Item 2.02.
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Disclosure of Results of Operations and Financial Conditions
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On November 8, 2016,
Ampco-Pittsburgh Corporation (Ampco) issued a corrected press release announcing financial information for the three and nine months ended September 30, 2016. As part of completing its financial statement closing process for its
Form 10-Q, Ampco determined that the press release issued on November 1, 2016 (which was included as Exhibit 99.1 to the Current Report on Form 8-K filed by Ampco with the U.S. Securities and Exchange Commission on November 1, 2016)
contained an inadvertent error in the calculation of the valuation allowance established against certain of its deferred income tax assets for the three months ended September 30, 2016.
Ampcos valuation allowance was $26,903,000 and $28,322,000 for the three and nine months ended September 30, 2016, respectively, versus $22,620,000
and $24,039,000, as initially reported. This change affects Ampcos net loss for the three and nine months ended September 30, 2016, which was $27,382,000 and $36,758,000, respectively, instead of $23,099,000 and $32,475,000, as initially
reported; net loss per common share for the three and nine months ended September 30, 2016, which was $2.23 and $3.10, respectively, instead of $1.88 and $2.74 as initially reported; and the per common share impact of the valuation allowance
for the three and nine months ended September 30, 2016, which was $2.19 and $2.39, respectively, instead of $1.84 and $2.03, as initially reported. Corresponding corrections have also been made to the s Financial Summary attached to the
November 1, 2016 press release and to the version of the press release available on Ampcos website.
The full text of the corrected press
release is attached as Exhibit 99.1 to this Current Report on Form 8-K/A and is incorporated herein by reference. In accordance with General Instruction B.2 of Form 8-K, the information included or incorporated in this report, including Exhibit
99.1, shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act) or otherwise subject to the liability of that section, nor shall such information be
incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.