Business Segments

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Business Segments

Business Segments The Company is a leading manufacturer and distributor of products and provider of services for transportation and energy infrastructure with locations in North America and Europe. The Company is organized and operates in three different operating segments: the Rail Products and Services segment, the Construction Products segment, and the Tubular and Energy Services segment. The segments represent components of the Company (a) that engage in activities from which revenue is generated and expenses are incurred; (b) whose operating results are regularly reviewed by the Chief Operating Decision Maker (“CODM”), who makes decisions about resources to be allocated to the segments, and (c) for which discrete financial information is available. Operating segments are evaluated on their segment profit contribution to the Company's consolidated results. Other income and expenses, interest, income taxes, and certain other items are managed on a consolidated basis. The Company's segment accounting policies are the same as those

described in Note 2. Business Segments of the Notes to the Company's Consolidated Financial Statements contained in its Annual Report on Form 10-K for the year-ended December 31, 2019.

The following table illustrates the Company's revenues and profit (loss) from operations by segment for the periods indicated:

	Three Months Ended June 30, 2020				Three Months Ended June 30, 2019
	Net Sales		Segment Profit (Loss)		Net Sales		Segment Profit
Rail Products and Services	$	74,939	$	5,816	$	101,401	$	7,919
Construction Products	42,008		1,506		55,406		3,413
Tubular and Energy Services	28,819		(4,105)		44,126		5,019
Total	$	145,766	$	3,217	$	200,933	$	16,351
	Six Months Ended June 30, 2020				Six Months Ended June 30, 2019
	Net Sales		Segment Profit (Loss)		Net Sales		Segment Profit
Rail Products and Services	$	145,143	$	6,987	$	177,095	$	11,398
Construction Products	71,042		(133)		92,751		4,247
Tubular and Energy Services	58,356		(3,493)		81,556		9,707
Total	$	274,541	$	3,361	$	351,402	$	25,352

Segment profit (loss) from operations, as shown above, includes allocated corporate operating expenses. Operating expenses related to corporate headquarter functions that directly support the segment activity are allocated based on segment headcount, revenue contribution, or activity of the business units within the segments, based on the corporate activity type provided to the segment. The expense allocation excludes certain corporate costs that are separately managed from the segments.

The following table provides a reconciliation of segment net profit from operations to the Company’s consolidated total:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Profit for reportable segments	$	3,217	$	16,351	$	3,361	$	25,352
Interest expense - net	(1,090)		(1,597)		(1,907)		(2,952)
Other income - net	2,292		252		2,427		402
Unallocated corporate expenses and other unallocated charges	(2,803)		(3,757)		(4,959)		(7,225)
Income (loss) before income taxes	$	1,616	$	11,249	$	(1,078)	$	15,577

The following table illustrates assets of the Company by segment:

	June 30, 2020		December 31, 2019
Rail Products and Services	$	171,806	$	186,323
Construction Products	99,894		83,049
Tubular and Energy Services	71,157		77,320
Unallocated corporate assets	54,507		58,479
Total	$	397,364	$	405,171