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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 7,129 $ 15,427
Trade receivables, less allowance for credit losses of $550 as of March 31, 2025 and $906 as of December 31, 2024 82,537 70,611
Inventories 124,183 116,761
Insurance receivable - asbestos 15,000 15,000
Contract assets 5,489 8,486
Other current assets 9,772 8,663
Total current assets 246,490 236,787
Property, plant and equipment, net 147,208 148,056
Operating lease right-of-use assets 5,034 4,592
Insurance receivable - asbestos, less allowance for credit losses of $656 as of March 31, 2025 and December 31, 2024 119,887 124,295
Deferred income tax assets 2,854 2,851
Intangible assets, net 4,494 4,255
Investments in joint ventures 2,175 2,175
Prepaid pensions 3,878 3,652
Other noncurrent assets 4,173 4,233
Total assets 536,193 530,896
Current liabilities:    
Accounts payable 41,342 36,310
Accrued payrolls and employee benefits 17,465 17,104
Debt – current portion 12,210 12,186
Operating lease liabilities – current portion 968 878
Asbestos liability – current portion 24,000 24,000
Customer-related liabilities 26,736 25,608
Other current liabilities 9,233 8,719
Total current liabilities 132,577 125,216
Employee benefit obligations 27,088 28,204
Asbestos liability 176,317 183,092
Long-term debt 115,048 116,394
Noncurrent operating lease liabilities 4,066 3,714
Deferred income tax liabilities 463 450
Other noncurrent liabilities 2,964 2,735
Total liabilities 458,523 459,805
Commitments and contingent liabilities (Note 9)
Shareholders’ equity:    
Common stock - par value $1; authorized 40,000 shares; issued and outstanding 19,980 shares as of March 31, 2025 and December 31, 2024 19,980 19,980
Additional paid-in capital 178,604 178,298
Retained deficit (71,417) (72,559)
Accumulated other comprehensive loss (62,525) (66,836)
Total Ampco-Pittsburgh shareholders’ equity 64,642 58,883
Noncontrolling interest 13,028 12,208
Total shareholders’ equity 77,670 71,091
Total liabilities and shareholders’ equity 536,193 530,896
Related Party [Member]    
Current assets:    
Trade receivables from related parties 2,380 1,839
Current liabilities:    
Accounts payable to related parties $ 623 $ 411