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Ampco Pittsburgh Corp (AP) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

SEC Filings

AP Registration of Securities

Ampco Pittsburgh Corp

CIK: 6176 Ticker: AP

Exhibit 99.1

 

 

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CONTACT:

Dee Ann Johnson

Chief Financial Officer and Treasurer

412-456-4410

dajohnson@ampcopgh.com

FOR IMMEDIATE RELEASE

PITTSBURGH, PA

February 26, 2015

Ampco-Pittsburgh Corporation Announces Results

Ampco-Pittsburgh Corporation (NYSE:AP) announces sales for the fourth quarter of 2014 of $74,587,000 versus $77,055,000 for the fourth quarter of 2013, a 3.2% decrease. Sales for 2014 approximated $272,858,000 against $281,050,000 for 2013, a 2.9% decrease.

Income (loss) from operations for the three and twelve months ended December 31, 2014 approximated $(2,757,000) and $80,000, respectively, and includes a pre-tax charge of $4,487,000 for the estimated increase in the cost of asbestos-related litigation net of estimated insurance recoveries. Income (loss) from operations for the three and twelve months ended December 31, 2013 approximated $4,088,000 and $28,967,000, respectively, and for the twelve months ended December 31, 2013 includes a pre-tax credit of $16,340,000 for estimated additional insurance recoveries for asbestos liabilities resulting from insurance coverage settlement agreements entered into during the third quarter of 2013.


The following information was filed by Ampco Pittsburgh Corp (AP) on Friday, February 27, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (parenthetical)
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Operations
Consolidated Statements Of Operations (parenthetical)
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (parenthetical)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (tables)
Accumulated Other Comprehensive Loss - Line Items Affected On Condensed Consolidated Statements Of Operations For Components Reclassified From Accumulated Other Comprehensive Loss (detail)
Accumulated Other Comprehensive Loss - Net Change And Ending Balances For Various Components Of Other Comprehensive Income (loss) And Accumulated Other Comprehensive Loss (detail)
Accumulated Other Comprehensive Loss - Summary Of Income Tax Expense (benefit) Associated With Various Components Of Other Comprehensive Income (loss) (detail)
Borrowing Arrangements
Borrowing Arrangements - Additional Information (detail)
Business Segments
Business Segments (tables)
Business Segments - Additional Information (detail)
Business Segments - Business Segment Net Sales And (loss) Income Before Income Taxes (detail)
Business Segments - Business Segment Net Sales And (loss) Income Before Income Taxes (parenthetical) (detail)
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities - Additional Information (detail)
Derivative Instruments
Derivative Instruments (tables)
Derivative Instruments - Additional Information (detail)
Derivative Instruments - Location And Fair Value Of Foreign Currency Sales Contracts Recorded On Consolidated Balance Sheets (detail)
Derivative Instruments - Summary Of Amount Recognized As And Reclassified From Accumulated Other Comprehensive Income (loss) (detail)
Derivative Instruments - Summary Of Change In Fair Value Reclassified Or Expected To Be Reclassified From Accumulated Other Comprehensive Loss To Earnings (detail)
Description Of Business
Description Of Business - Additional Information (detail)
Environmental Matters
Environmental Matters - Additional Information (detail)
Fair Value
Fair Value (tables)
Fair Value - Additional Information (detail)
Fair Value - Fair Value Of Financial Assets And Liabilities (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - (loss) Income Before Income Taxes And Equity Losses In Chinese Joint Venture (detail)
Income Taxes - Additional Information (detail)
Income Taxes - Deferred Income Tax Assets And Liabilities (detail)
Income Taxes - Difference Between Statutory U.s. Federal Income Tax And The Corporation's Effective Income Tax (detail)
Income Taxes - Income Tax Provision (detail)
Income Taxes - Summary Of Changes In Unrecognized Tax Benefits (detail)
Inventories
Inventories (tables)
Inventories - Additional Information (detail)
Inventories - Schedule Of Inventories (detail)
Investments In Joint Ventures
Investments In Joint Ventures (tables)
Investments In Joint Ventures - Additional Information (detail)
Investments In Joint Ventures - Assets, Liabilities And Shareholders' Equity Of Joint Venture (detail)
Investments In Joint Ventures - Assets, Liabilities And Shareholders' Equity Of Joint Venture (parenthetical) (detail)
Litigation
Litigation (tables)
Litigation - Additional Information (detail)
Litigation - Schedule Of Loss Contingencies By Contingency (detail)
Litigation - Schedule Of Loss Contingencies By Contingency (parenthetical) (detail)
Litigation - Summary Of Activity In Asbestos Insurance Recoveries (detail)
Operating Leases
Operating Leases - Additional Information (detail)
Other Current Liabilities
Other Current Liabilities (tables)
Other Current Liabilities - Schedule Of Changes In Liability For Product Warranty Claims (detail)
Other Current Liabilities - Schedule Of Other Current Liabilities (detail)
Pension And Other Postretirement Benefits
Pension And Other Postretirement Benefits (tables)
Pension And Other Postretirement Benefits - Additional Information (detail)
Pension And Other Postretirement Benefits - Amounts Included In Accumulated Other Comprehensive Loss To Be Recognized Over Next Year (detail)
Pension And Other Postretirement Benefits - Asset Categories Based On The Nature And Risks Of The Plan Assets (detail)
Pension And Other Postretirement Benefits - Asset Categories Based On The Nature And Risks Of The Plan Assets (parenthetical) (detail)
Pension And Other Postretirement Benefits - Assumptions Regarding Net Periodic Pension And Other Postretirement Benefit Costs (detail)
Pension And Other Postretirement Benefits - Discount Rates And Weighted-average Wage Increases Used To Determine The Benefit Obligations (detail)
Pension And Other Postretirement Benefits - Net Periodic Pension And Other Postretirement Benefit Costs (detail)
Pension And Other Postretirement Benefits - Schedule Of Accumulated Other Comprehensive Loss (detail)
Pension And Other Postretirement Benefits - Schedule Of Amounts Recognized In The Balance Sheets (detail)
Pension And Other Postretirement Benefits - Schedule Of Changes In Plan Assets (detail)
Pension And Other Postretirement Benefits - Schedule Of Changes In Projected Benefit Obligations (detail)
Pension And Other Postretirement Benefits - Schedule Of Net Funded Status Of The Plans (detail)
Pension And Other Postretirement Benefits - Summary Of Changes In The Fair Value Of The Level 3 Plan Assets For U.s. And Foreign Pension Plans (detail)
Pension And Other Postretirement Benefits - Summary Of Target Asset Allocations And Major Asset Categories (detail)
Property, Plant And Equipment
Property, Plant And Equipment (tables)
Property, Plant And Equipment - Additional Information (detail)
Property, Plant And Equipment - Schedule Of Property, Plant And Equipment (detail)
Quarterly Information - Quarterly Information - Unaudited (detail)
Quarterly Information - Quarterly Information - Unaudited (parenthetical) (detail)
Quarterly Information - Unaudited
Quarterly Information - Unaudited (tables)
Related Parties
Related Parties - Additional Information (detail)
Research And Development Costs
Research And Development Costs - Additional Information (detail)
Schedule Ii - Valuation And Qualifying Accounts (detail)
Stock-based Compensation
Stock-based Compensation (tables)
Stock-based Compensation - Additional Information (detail)
Stock-based Compensation - Fair Values Of Options Calculated Based On Assumptions Using Black-scholes Option-pricing Model (detail)
Stock-based Compensation - Summary Of Stock Options Outstanding And Exercisable (detail)
Subsequent Event
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies - Additional Information (detail)
Valuation And Qualifying Accounts
Ticker: AP
CIK: 6176
Form Type: 10-K Annual Report
Accession Number: 0001193125-15-092495
Submitted to the SEC: Mon Mar 16 2015 9:02:55 AM EST
Accepted by the SEC: Mon Mar 16 2015
Period: Wednesday, December 31, 2014
Industry: Pumps And Pumping Equipment

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