Business Segments

9 Months Ended

Sep. 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's 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 uses such information to make 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 from operations by segment for the periods indicated:

	Three Months Ended September 30, 2020				Three Months Ended September 30, 2019
	Net Sales		Segment Profit		Net Sales		Segment Profit
Rail Products and Services	$	63,988	$	3,742	$	67,741	$	3,417
Construction Products	37,883		1,756		47,175		1,848
Tubular and Energy Services	16,494		619		29,932		3,705
Total	$	118,365	$	6,117	$	144,848	$	8,970
	Nine Months Ended September 30, 2020				Nine Months Ended September 30, 2019
	Net Sales		Segment Profit		Net Sales		Segment Profit
Rail Products and Services	$	209,131	$	10,729	$	244,836	$	14,815
Construction Products	108,925		1,623		139,926		6,095
Tubular and Energy Services	63,779		7,213		90,335		14,901
Total	$	381,835	$	19,565	$	475,097	$	35,811

Segment profit 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 continuing operations to the Company’s consolidated continuing operations total for the periods presented:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Profit for reportable segments	$	6,117	$	8,970	$	19,565	$	35,811
Interest expense - net	(940)		(1,078)		(2,841)		(4,030)
Other (expense) income - net	(243)		374		2,178		764
Unallocated corporate expenses and other unallocated charges	(2,098)		(3,676)		(7,057)		(10,889)
Income before income taxes from continuing operations	$	2,836	$	4,590	$	11,845	$	21,656

The following table illustrates assets of the Company by segment for the periods presented:

	September 30, 2020		December 31, 2019
Rail Products and Services	$	168,318	$	186,323
Construction Products	97,170		83,049
Tubular and Energy Services	42,501		47,638
Unallocated corporate and discontinued operations assets	70,941		88,161
Total	$	378,930	$	405,171