Business Segments

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Business Segments

Business Segments The Company is a global solutions provider of engineered, manufactured products and services that builds and supports infrastructure. The Company’s innovative engineering and product development solutions address the safety, reliability, and performance needs of its customers’ most 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 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, 2021.

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

	Three Months Ended September 30, 2022				Three Months Ended September 30, 2021
	Net Sales		Segment Operating Profit		Net Sales		Segment Operating Profit (Loss)
Rail, Technologies, and Services	$	77,350	$	539	$	73,942	$	3,091
Precast Concrete Products	28,856		1,245		17,972		144
Steel Products and Measurement	23,809		303		38,139		(27)
Total	$	130,015	$	2,087	$	130,053	$	3,208

	Nine Months Ended September 30, 2022				Nine Months Ended September 30, 2021
	Net Sales		Segment Operating Profit (Loss)		Net Sales		Segment Operating Profit (Loss)
Rail, Technologies, and Services	$	222,857	$	5,576	$	228,956	$	10,970
Precast Concrete Products	67,477		329		50,723		1,175
Steel Products and Measurement	69,990		(1,083)		120,976		(140)
Total	$	360,324	$	4,822	$	400,655	$	12,005

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Operating profit for reportable segments	$	2,087	$	3,208	$	4,822	$	12,005
Interest expense - net	(993)		(722)		(1,747)		(2,454)
Other (expense) income - net	(168)		2,880		1,096		2,751
Unallocated corporate expenses and other unallocated charges	(3,207)		(2,450)		(5,749)		(6,984)
(Loss) income from continuing operations before income taxes	$	(2,281)	$	2,916	$	(1,578)	$	5,318

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

	September 30, 2022		December 31, 2021
Rail, Technologies, and Services	$	165,651	$	171,608
Precast Concrete Products	116,519		48,740
Steel Products and Measurement	64,830		58,377
Unallocated corporate assets	66,192		63,870
Total	$	413,192	$	342,595