Business Segments

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Business Segments

Business Segments

The Company provides products and services for the rail industry and solutions to support critical infrastructure projects. The Company’s innovative engineering and product development solutions inspire the safety, reliability, and performance of its customers’ challenging requirements. The Company maintains locations in North America, South America, Europe, and Asia. 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 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, 2020.

The following table illustrates the Company’s revenues and profit from operations by segment for the periods indicated:

	Three Months Ended March 31, 2021				Three Months Ended March 31, 2020
	Net Sales		Segment Profit (Loss)		Net Sales		Segment Profit
Rail Technologies and Services	$	66,232	$	2,532	$	70,204	$	1,171
Infrastructure Solutions	49,848		(666)		51,703		1,604
Total	$	116,080	$	1,866	$	121,907	$	2,775

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

	Three Months Ended March 31,
	2021		2020
Profit for reportable segments	$	1,866	$	2,775
Interest expense - net	(871)		(812)
Other expense - net	(59)		(606)
Unallocated corporate expenses and other unallocated charges	(2,527)		(1,420)
Loss before income taxes from continuing operations	$	(1,591)	$	(63)

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

	March 31, 2021		December 31, 2020
Rail Technologies and Services	$	174,782	$	161,485
Infrastructure Solutions	136,649		137,519
Unallocated corporate assets	63,045		71,391
Total	$	374,476	$	370,395