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Business Segments | 12 Months Ended
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Dec. 31, 2013
Business Segments [Abstract] |
BUSINESS SEGMENTS | Note 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 their contribution to the Company’s consolidated results based upon segment profit. The Company markets its products directly in all major industrial areas of the United States, Canada and the United Kingdom, primarily through an internal sales force. The Company’s Rail Products segment provides a full line of new and used rail, trackwork and accessories to railroads, mines and industry. The Rail segment also designs and produces concrete railroad ties, insulated rail joints, power rail, track fasteners, coverboards and special accessories for mass transit and other rail systems. In addition, the Rail Products segment also engineers, manufactures and assembles friction management products and railway wayside data collection and management systems. The Company’s Construction Products segment sells and rents steel sheet piling, H-bearing pile, and other piling products for foundation and earth retention requirements. In addition, the Company’s Fabricated Products division sells bridge decking, bridge railing, structural steel fabrications, expansion joints, bridge forms and other products for highway construction and repair. The Buildings division produces precast concrete buildings. The Company’s Tubular Products segment supplies pipe coatings for natural gas pipelines and utilities. Additionally, this segment produces threaded pipe products for industrial water well and irrigation markets. L.B. Foster Ball Winch, Inc., which was acquired on November 7, 2013, will enhance our pipe coating capabilities and expand our business into the field service coating space. The following table illustrates net sales, profits, assets, depreciation/amortization and expenditures for long-lived assets of the Company by segment from continuing operations. Segment profit is the earnings from continuing operations before income taxes and includes internal cost of capital charges for net assets used in the segment at a rate of generally 1% per month. The internal cost of capital charges are eliminated during the consolidation process. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies except that the Company accounts for inventory on a First-In, First-Out (FIFO) basis at the segment level compared to a Last-In, First-Out (LIFO) basis at the consolidated level.
|  | 2013
|  |  |  |  |  |  |  |  |  | Expenditures
|  | Net |  | Segment |  | Segment |  | Depreciation/ |  | for Long-Lived
|  | Sales |  | Profit |  | Assets |  | Amortization |  | Assets
Rail Products | $ | 363,667 | $ | 28,692 | $ | 252,049 | $ | 6,505 | $ | 3,383
Construction Products |  | 191,751 |  | 10,206 |  | 77,900 |  | 1,758 |  | 1,805
Tubular Products |  | 42,545 |  | 9,208 |  | 37,107 |  | 1,054 |  | 2,460
Total | $ | 597,963 | $ | 48,106 | $ | 367,056 | $ | 9,317 | $ | 7,648
|  | 2012
|  |  |  |  |  |  |  |  |  | Expenditures
|  | Net |  | Segment |  | Segment |  | Depreciation/ |  | for Long-Lived
|  | Sales |  | Profit |  | Assets |  | Amortization |  | Assets
Rail Products | $ | 370,322 | $ | 9,074 | $ | 243,072 | $ | 9,736 | $ | 4,180
Construction Products |  | 169,253 |  | 7,859 |  | 73,804 |  | 2,119 |  | 474
Tubular Products |  | 48,966 |  | 12,854 |  | 13,573 |  | 599 |  | 1,350
Total | $ | 588,541 | $ | 29,787 | $ | 330,449 | $ | 12,454 | $ | 6,004
|  | 2011
|  |  |  |  |  |  |  |  |  | Expenditures
|  | Net |  | Segment |  | Segment |  | Depreciation/ |  | for Long-Lived
|  | Sales |  | Profit |  | Assets |  | Amortization |  | Assets
Rail Products | $ | 315,133 | $ | 18,724 | $ | 219,917 | $ | 8,908 | $ | 5,894
Construction Products |  | 227,734 |  | 16,323 |  | 88,615 |  | 2,180 |  | 1,049
Tubular Products |  | 32,470 |  | 6,810 |  | 11,758 |  | 453 |  | 3,995
Total | $ | 575,337 | $ | 41,857 | $ | 320,290 | $ | 11,541 | $ | 10,938
During 2013 and 2012, no single customer accounted for more than 10% of the Company’s consolidated net sales. In 2011, one customer accounted for approximately 10% of consolidated net sales. Sales to this customer were recorded primarily in the Rail Products segment and to a lesser degree the Construction Products segment. Net sales to this customer totaling $58,715 were recorded during 2011. Sales between segments are immaterial. Reconciliations of reportable segment net sales, profits, assets, depreciation/amortization, and expenditures for long-lived assets from continuing operations to the Company’s consolidated totals from continuing operations are illustrated as follows:
|  | 2013 |  | 2012 |  | 2011
Income from Continuing Operations: |  |  |  |  |  |
Total for reportable segments | $ | 48,106 | $ | 29,787 | $ | 41,857
Adjustment of inventory to LIFO |  | 37 |  | 1,118 |  | (2,183)
Unallocated interest income |  | 659 |  | 452 |  | 321
Unallocated equity in income of nonconsolidated investments |  | 1,316 |  | 837 |  | 707
Unallocated corporate amounts |  | (6,003) |  | (8,364) |  | (8,050)
Income from continuing operations, before income taxes | $ | 44,115 | $ | 23,830 | $ | 32,652
Assets: |  |  |  |  |  |
Total for reportable segments | $ | 367,056 | $ | 330,449 | $ | 320,290
Unallocated corporate assets |  | 55,625 |  | 84,737 |  | 69,787
LIFO |  | (9,027) |  | (9,064) |  | (10,183)
Total assets | $ | 413,654 | $ | 406,122 | $ | 379,894
|  | 2013 |  | 2012 |  | 2011
Depreciation/Amortization: |  |  |  |  |  |
Total for reportable segments | $ | 9,317 | $ | 12,454 | $ | 11,541
Other |  | 685 |  | 519 |  | 466
Total | $ | 10,002 | $ | 12,973 | $ | 12,007
Expenditures for Long-Lived Assets: |  |  |  |  |  |
Total for reportable segments | $ | 7,648 | $ | 6,004 | $ | 10,938
Other expenditures |  | 2,026 |  | 1,156 |  | 795
Total | $ | 9,674 | $ | 7,160 | $ | 11,733
The following table summarizes the Company’s sales from continuing operations by major geographic region in which the Company has operations:
|  | 2013 |  | 2012 |  | 2011
United States | $ | 495,710 | $ | 485,111 | $ | 483,889
Canada |  | 37,290 |  | 40,892 |  | 41,252
United Kingdom |  | 16,548 |  | 18,698 |  | 14,728
Other |  | 48,415 |  | 43,840 |  | 35,468
| $ | 597,963 | $ | 588,541 | $ | 575,337
The following table summarizes the Company’s long-lived assets from continuing operations by geographic region:
|  | 2013 |  | 2012 |  | 2011
United States | $ | 40,717 | $ | 31,961 | $ | 35,918
Canada |  | 8,833 |  | 9,773 |  | 9,374
United Kingdom |  | 559 |  | 599 |  | 545
| $ | 50,109 | $ | 42,333 | $ | 45,837
The following table summarizes the Company’s sales by major product line from continuing operations:
|  | 2013 |  | 2012 |  | 2011
Rail distribution products | $ | 144,911 | $ | 155,832 | $ | 115,777
Piling products |  | 140,302 |  | 114,070 |  | 162,641
Rail Technologies products |  | 88,670 |  | 92,826 |  | 97,775
CXT concrete tie products |  | 44,108 |  | 58,182 |  | 48,968
Transit products |  | 41,947 |  | 22,215 |  | 17,256
CXT concrete building products |  | 32,969 |  | 30,195 |  | 35,557
Other products |  | 105,056 |  | 115,221 |  | 97,363
| $ | 597,963 | $ | 588,541 | $ | 575,337

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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