Revenue (Tables)

12 Months Ended

Dec. 31, 2023

For the years ended December 31, 2023 and 2022, revenue recognized over time was as follows:


	Year Ended December 31,				Percentage of Total Net Sales Year Ended December 31,
	2023		2022		2023		2022
Over time input method	$	59,864	$	67,116	11.1	%	13.5	%
Over time output method	88,856		68,794		16.3		13.8
Total over time sales	$	148,720	$	135,910	27.4	%	27.3	%

For the years ended December 31, 2023 and 2022, net sales by the timing of the transfer of goods and services were as follows:


Year Ended December 31, 2023	Rail, Technologies, and Services		Infrastructure Solutions		Total
Point in time	$	254,345	$	140,679	$	395,024
Over time	57,815		90,905		148,720
Total net sales	$	312,160	$	231,584	$	543,744

Year Ended December 31, 2022	Rail, Technologies, and Services		Infrastructure Solutions		Total
Point in time	$	241,759	$	119,828	$	361,587
Over time	58,833		77,077		135,910
Total net sales	$	300,592	$	196,905	$	497,497

The following table sets forth the Company’s contract assets:


	Contract Assets






Contract asset balance as of December 31, 2022	$	33,613
Net additions to contract assets	9,638
Transfers from contract asset balance to accounts receivable	(13,762)
Contract asset balance as of December 31, 2023	$	29,489

The following table sets forth the Company’s contract liabilities:


	Contract Liabilities




Contract liability balance as of December 31, 2022	$	6,781
Revenue recognized from contract liabilities	(5,121)
Increase in billings in excess of costs, excluding revenue recognized	2,204
Other adjustments, including business divestiture	(1,675)
Balance as of December 31, 2023	$	2,189