Property and Equipment

9 Months Ended

Sep. 30, 2015

Property and Equipment [Abstract]

Property and Equipment

Note 5.  Property and Equipment

Property and equipment is stated at cost, less accumulated depreciation of $213,648 and $222,001 as of September 30, 2015 and December 31, 2014, respectively.

During the second quarter of 2015, the Company closed its Astec Underground facility in Loudon Tennessee and relocated (or disposed of) the majority of its non-real estate fixed assets to other Company facilities.  The book value of the Loudon facility ($9,248) is classified as held for sale at September 30, 2015 and is included in other current assets in the accompanying condensed consolidated balance sheet as of September 30, 2015.  The Company closed on the sale of the facility in October 2015 and collected the $9,599 net sales price.  The costs of closing the facility totaling $1,500 were recorded in cost of sales ($999) and selling, general and administrative expenses ($501) in the accompanying condensed consolidated statement of income in the first six months of 2015.