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Business Segments | 12 Months Ended
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Dec. 31, 2014
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 Europe, 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 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. 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 concrete products businesses produce precast concrete buildings and a variety of specialty precast concrete products. The Company’s Tubular Products segment supplies pipe coatings for natural gas pipelines and utilities, blending, injection, and metering equipment for the oil and gas market, and produces threaded pipe products for industrial water well and irrigation markets. 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.
|  | 2014
|  |  |  |  |  |  |  |  |  | Expenditures
|  | Net |  | Segment |  | Segment |  | Depreciation/ |  | for Long-Lived
|  | Sales |  | Profit |  | Assets |  | Amortization |  | Assets
Rail Products | $ | 374,615 | $ | 30,093 | $ | 239,951 | $ | 6,153 | $ | 5,115
Construction Products |  | 178,847 |  | 13,106 |  | 102,978 |  | 2,232 |  | 3,343
Tubular Products |  | 53,730 |  | 5,350 |  | 130,289 |  | 3,208 |  | 6,988
Total | $ | 607,192 | $ | 48,549 | $ | 473,218 | $ | 11,593 | $ | 15,446
|  | 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 |  | 51,497 |  | 1,054 |  | 2,460
Total | $ | 597,963 | $ | 48,106 | $ | 381,446 | $ | 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
During 2014, 2013, and 2012, no single customer accounted for more than 10% of the Company’s consolidated net sales. 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:
|  | 2014 |  | 2013 |  | 2012
Income from Continuing Operations: |  |  |  |  |  |
Total for reportable segments | $ | 48,549 | $ | 48,106 | $ | 29,787
Adjustment of inventory to LIFO |  | 738 |  | 37 |  | 1,118
Unallocated interest income |  | 530 |  | 659 |  | 452
Unallocated equity in income of nonconsolidated investments |  | 1,282 |  | 1,316 |  | 837
Unallocated corporate amounts |  | (12,043) |  | (6,003) |  | (8,364)
Income from continuing operations, before income taxes | $ | 39,056 | $ | 44,115 | $ | 23,830
Assets: |  |  |  |  |  |
Total for reportable segments | $ | 473,218 | $ | 381,446 | $ | 330,449
Unallocated corporate assets |  | 30,192 |  | 41,235 |  | 84,737
LIFO |  | (8,289) |  | (9,027) |  | (9,064)
Total assets | $ | 495,121 | $ | 413,654 | $ | 406,122
Depreciation/Amortization: |  |  |  |  |  |
Total for reportable segments | $ | 11,593 | $ | 9,317 | $ | 12,454
Other |  | 984 |  | 685 |  | 519
Total | $ | 12,577 | $ | 10,002 | $ | 12,973
Expenditures for Long-Lived Assets: |  |  |  |  |  |
Total for reportable segments | $ | 15,446 | $ | 7,648 | $ | 6,004
Expenditures funded through financing agreements |  | 1,981 |  | - |  | -
Other expenditures |  | 1,610 |  | 2,026 |  | 1,156
Total | $ | 19,037 | $ | 9,674 | $ | 7,160
The following table summarizes the Company’s sales from continuing operations by major geographic region in which the Company has operations:
|  | 2014 |  | 2013 |  | 2012
United States | $ | 498,025 | $ | 495,710 | $ | 485,111
Canada |  | 39,375 |  | 37,290 |  | 40,892
United Kingdom |  | 22,625 |  | 16,548 |  | 18,698
Other |  | 47,167 |  | 48,415 |  | 43,840
| $ | 607,192 | $ | 597,963 | $ | 588,541
The following table summarizes the Company’s long-lived assets from continuing operations by geographic region:
|  | 2014 |  | 2013 |  | 2012
United States | $ | 66,905 | $ | 40,717 | $ | 31,961
Canada |  | 7,440 |  | 8,833 |  | 9,773
Europe |  | 457 |  | 559 |  | 599
| $ | 74,802 | $ | 50,109 | $ | 42,333
The following table summarizes the Company’s sales by major product line from continuing operations:
|  | 2014 |  | 2013 |  | 2012
Rail distribution products | $ | 139,529 | $ | 144,911 | $ | 155,832
Piling products |  | 111,182 |  | 140,302 |  | 114,070
Rail Technologies products |  | 109,053 |  | 88,670 |  | 92,826
CXT concrete tie products |  | 52,562 |  | 44,108 |  | 58,182
Allegheny Rail Products |  | 45,008 |  | 36,666 |  | 33,046
Concrete products |  | 36,396 |  | 32,969 |  | 30,195
Other products |  | 113,462 |  | 110,337 |  | 104,390
| $ | 607,192 | $ | 597,963 | $ | 588,541

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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 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 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 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: 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 5: 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 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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