Business Segments

3 Months Ended

Mar. 31, 2016

Business Segments [Abstract]

BUSINESS SEGMENTS

2. BUSINESS SEGMENTS

The Company is a leading manufacturer, fabricator, and distributor of products and services for rail, construction, energy, and utility markets. The Company is organized and evaluated by product group, which is the basis for identifying reportable segments. Each segment represents a revenue-producing component of the Company for which separate financial information is produced internally and is subject to evaluation by the Company’s chief operating decision maker in deciding how to allocate resources. Each segment is evaluated based upon its respective contribution to the Company’s consolidated results based upon segment profit.

The following table illustrates revenues and profits from operations of the Company by segment for the periods indicated:

		Three Months Ended				Three Months Ended
		March 31, 2016				March 31, 2015
		Net		Segment		Net		Segment
		Sales		Profit (loss)		Sales		Profit
Rail Products and Services	$	64,292	$	741	$	77,676	$	6,072
Construction Products		31,880		448		34,290		1,228
Tubular and Energy Services		30,138		(1,927)		25,941		1,958
Total	$	126,310	$	(738)	$	137,907	$	9,258

Segment profits (losses) from operations, as shown above, include internal cost of capital charges for assets used in the segment at a rate of generally 1% per month. There has been no change in the measurement of segment profit from operations from December 31, 2015. The internal cost of capital charges are eliminated during the consolidation process.

The following table provides a reconciliation of reportable segment net profit from operations to the Company’s consolidated total:

		Three Months Ended
		March 31,
		2016		2015
(Loss) income for reportable segments	$	(738)	$	9,258
Interest expense		(1,170)		(613)
Interest income		55		57
Other (expense) income		(715)		803
LIFO income (expense)		73		(6)
Equity in (loss) income of nonconsolidated investments		(196)		173
Corporate expense, cost of capital elimination, and other unallocated charges		(1,458)		(3,007)
(Loss) Income before income taxes	$	(4,149)	$	6,665