Other Expense (Income)

12 Months Ended

Dec. 31, 2023

Other Income and Expenses [Abstract]

Other Expense (Income)

Other Expense (Income)

The following table summarizes the Company’s other expense (income) for the years ended December 31, 2023 and 2022:

	2023		2022
Loss on the sale of Chemtec (a)	$	2,065	$	—
Bridge grid deck exit impact (b)	1,403		—
Loss on the sale of Concrete Ties (c)	1,009		—
Gain on Piling Products division asset sale (d)	—		(489)
Insurance proceeds (e)	(215)		(790)
Loss on the sale of Track Components (f)	—		467
Costs recovered from environmental cleanup activities (g)	—		(325)
Foreign currency losses	77		434
Other	(673)		(847)
Other expense (income) - net	$	3,666	$	(1,550)

a.On March 30, 2023, the Company sold substantially all the operating assets of its Chemtec business, which was inclusive of its entire Precision Measurement Products and Services division, generating a $2,065 pre-tax loss.

b.On August 30, 2023, the Company announced the discontinuation of its Bridge Products grid deck product line which was reported in the Steel Products business unit within the Infrastructure segment and resulted in expense of $1,403.

c.On June 30, 2023, the Company sold substantially all the operating assets of the Ties business, located in Spokane, WA, generating a $1,009 loss on the sale.

d.On September 27, 2021, the Company announced it completed the sale of its Piling Products division to J.D. Fields & Company, Inc., resulting in a pre-tax gain of $489 in 2022.

e.In 2023 and 2022, the Company received $215 and $790, respectively, in insurance proceeds.

f.On August 1, 2022, the Company divested the assets of its rail spikes and anchors track components business located in St-Jean-sur-Richelieu, Quebec, Canada, resulting in a pre-tax loss of $467 in 2022.

g.In 2022, the Company received $325 to recover costs associated with environmental cleanup activities in a formerly leased property in Magnolia, TX.