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Debt
9 Months Ended
Sep. 30, 2013
Debt [Abstract]  
Debt
Note 7.  Debt
On April 12, 2012, the Company and certain of its subsidiaries entered into an amended and restated credit agreement with Wells Fargo Bank, National Association ("Wells Fargo"), whereby Wells Fargo extended to the Company an unsecured line of credit of up to $100,000,000, including a sub-limit for letters of credit of up to $25,000,000.  The new amended and restated credit agreement replaced an expiring $100,000,000 credit facility between the Company and Wells Fargo.  To date, there have been no revolving or term loan borrowings under the credit facilities.  Letters of credit totaling $6,903,000 were outstanding under the new agreement as of September 30, 2013, resulting in additional borrowing capacity of $93,097,000 on the Wells Fargo credit facility as of September 30, 2013.  The agreement has a five-year term expiring in April 2017.  Borrowings under the agreement are subject to an interest rate equal to the daily one month LIBOR rate plus a 0.75% margin.  The unused facility fee is 0.175%.  Interest only payments are due monthly.  The agreement contains certain financial covenants, including provisions concerning required levels of annual net income, minimum tangible net worth and maximum allowed capital expenditures.  The Company was in compliance with these covenants as of September 30, 2013.

The Company's South African subsidiary, Osborn Engineered Products SA (Pty) Ltd ("Osborn"), has a credit facility of $7,465,000 (ZAR 75,000,000) to finance short-term working capital needs, as well as to cover performance letters of credit, advance payment and retention guarantees. As of September 30, 2013, Osborn had $328,000 of borrowings, which are included in other current liabilities in the balance sheet, and $1,478,000 in performance, advance payment and retention guarantees outstanding under the facility. The facility is unsecured and no unused facility fees are charged.  As of September 30, 2013, Osborn had available credit under the facility of $5,658,000. The interest rate is 0.25% less than the South Africa prime rate, resulting in a rate of 8.25% as of September 30, 2013.

The Company's Australian subsidiary, Astec Australia Pty Ltd ("Astec Australia"), entered into a new banking agreement in July 2013 that includes a banking facility to finance foreign exchange dealer limit orders of up to $7,447,000 (AUD 8,000,000) and a flexible options finance facility of $3,025,000 (AUD 3,250,000) secured by a mortgage on Astec Australia's property and a general security agreement.  Amounts outstanding under Astec Australia's prior banking arrangements are currently being transferred to the new bank, and the existing $1,600,000 letter of credit issued by the parent Company in connection with Astec Australia's prior credit facility is expected to be terminated once the transfers are complete.  No amounts were outstanding under the credit facilities as of September 30, 2013; however, performance guarantees in the amount of $849,000 were outstanding under the bank guarantee facilities as of September 30, 2013.  The interest rate is the bank's Business One Loan Rate plus a line fee of 1.35%. The interest rate was 5.21% as of September 30, 2013.