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Business Segments | 6 Months Ended
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Jun. 30, 2017
Segment Reporting [Abstract] |
Business Segments | BUSINESS SEGMENTS The Company is a leading manufacturer and distributor of products and services for transportation and energy infrastructure with locations in North America and Europe. 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 that 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 segment profit contribution to the Company’s consolidated results. The following table illustrates revenues and profits (losses) from operations of the Company by segment for the periods indicated:
|  | Three Months Ended June 30, 2017 |  | Six Months Ended June 30, 2017
|  | Net Sales |  | Segment Profit (Loss) |  | Net Sales |  | Segment Profit (Loss)
Rail Products and Services |  | $ | 69,347 |  |  | $ | 3,977 |  |  | $ | 125,827 |  |  | $ | 5,466 |
Construction Products |  | 45,465 |  |  | 4,551 |  |  | 82,787 |  |  | 5,770 |
Tubular and Energy Services |  | 30,048 |  |  | (17 | ) |  | 54,948 |  |  | (525 | )
Total |  | $ | 144,860 |  |  | $ | 8,511 |  |  | $ | 263,562 |  |  | $ | 10,711 |
|  | Three Months Ended June 30, 2016 |  | Six Months Ended June 30, 2016
|  | Net Sales |  | Segment Profit (Loss) |  | Net Sales |  | Segment Profit (Loss)
Rail Products and Services |  | $ | 67,503 |  |  | $ | (25,168 | ) |  | $ | 131,795 |  |  | $ | (24,427 | )
Construction Products |  | 40,348 |  |  | 3,944 |  |  | 72,228 |  |  | 4,392 |
Tubular and Energy Services |  | 28,143 |  |  | (102,983 | ) |  | 58,281 |  |  | (104,910 | )
Total |  | $ | 135,994 |  |  | $ | (124,207 | ) |  | $ | 262,304 |  |  | $ | (124,945 | )
Segment profit (loss) 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 (loss) from operations since December 31, 2016. The internal cost of capital charges are eliminated during the consolidation process. The following table provides a reconciliation of reportable segment net profit (loss) from operations to the Company’s consolidated total:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2017 |  | 2016 |  | 2017 |  | 2016
Profit (loss) for reportable segments |  | $ | 8,511 |  |  | $ | (124,207 | ) |  | $ | 10,711 |  |  | $ | (124,945 | )
Interest expense |  | (2,181 | ) |  | (1,652 | ) |  | (4,289 | ) |  | (2,822 | )
Interest income |  | 54 |  |  | 52 |  |  | 110 |  |  | 107 |
Other income (expense) |  | 18 |  |  | (107 | ) |  | 13 |  |  | (822 | )
LIFO (expense) income |  | (192 | ) |  | 452 |  |  | (181 | ) |  | 525 |
Equity in income (loss) of nonconsolidated investments |  | 145 |  |  | (487 | ) |  | (55 | ) |  | (683 | )
Corporate expense, cost of capital elimination, and other unallocated charges |  | (2,856 | ) |  | (3,476 | ) |  | (4,801 | ) |  | (4,934 | )
Income (loss) before income taxes |  | $ | 3,499 |  |  | $ | (129,425 | ) |  | $ | 1,508 |  |  | $ | (133,574 | )
The following table illustrates assets of the Company by segment:
|  | June 30, 2017 |  | December 31, 2016
Rail Products and Services |  | $ | 186,588 |  |  | $ | 174,049 |
Construction Products |  | 81,953 |  |  | 81,074 |
Tubular and Energy Services |  | 99,076 |  |  | 100,006 |
Unallocated corporate assets |  | 25,393 |  |  | 37,894 |
Total |  | $ | 393,010 |  |  | $ | 393,023 |

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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 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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