XML 24 R11.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Business Segments | 12 Months Ended
--- | ---
Dec. 31, 2017
Segment Reporting, Disclosure of Entity's Reportable Segments [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 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 and Services segment provides a full line of new and used rail, trackwork, and accessories to railroads, mines, and other customers in the rail industry. The Rail Products and Services segment also designs and produces insulated rail joints, power rail, track fasteners, concrete railroad ties, coverboards, and special accessories for mass transit and other rail systems. In addition, the Rail Products and Services 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 Construction Products segment also sells bridge decking, bridge railing, structural steel fabrications, expansion joints, bridge forms, and other products for highway construction and repair. Lastly, the Construction Products segment produces precast concrete buildings and a variety of specialty precast concrete products. The Company’s Tubular and Energy Services segment provides pipe coatings for natural gas pipelines and utilities, upstream test and inspection services, and precision measurement systems for the oil and gas market, and produces threaded pipe products for the oil and gas markets as well as industrial water well and irrigation markets. The following table illustrates net sales, profit (loss), assets, depreciation/amortization, and expenditures for long-lived assets of the Company by segment for the years ended or at December 31, 2017, 2016, and 2015. Segment profit is the earnings from 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 excluding recently acquired businesses. 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.
|  | 2017
|  | Net Sales |  | Segment Profit |  | Segment Assets |  | Depreciation/Amortization |  | Expenditures for Long-Lived Assets
Rail Products and Services |  | $ | 256,127 |  |  | $ | 12,216 |  |  | $ | 192,038 |  |  | $ | 7,004 |  |  | $ | 2,915 |
Construction Products |  | 161,801 |  |  | 11,620 |  |  | 83,154 |  |  | 1,955 |  |  | 1,390 |
Tubular and Energy Services |  | 118,449 |  |  | 3,849 |  |  | 100,706 |  |  | 9,410 |  |  | 1,282 |
Total |  | $ | 536,377 |  |  | $ | 27,685 |  |  | $ | 375,898 |  |  | $ | 18,369 |  |  | $ | 5,587 |
|  | 2016
|  | Net Sales |  | Segment (Loss) Profit* |  | Segment Assets* |  | Depreciation/Amortization |  | Expenditures for Long-Lived Assets
Rail Products and Services |  | $ | 239,127 |  |  | $ | (26,228 | ) |  | $ | 174,049 |  |  | $ | 7,276 |  |  | $ | 856 |
Construction Products |  | 145,602 |  |  | 8,189 |  |  | 81,074 |  |  | 2,256 |  |  | 687 |
Tubular and Energy Services |  | 98,785 |  |  | (116,126 | ) |  | 100,006 |  |  | 12,644 |  |  | 3,810 |
Total |  | $ | 483,514 |  |  | $ | (134,165 | ) |  | $ | 355,129 |  |  | $ | 22,176 |  |  | $ | 5,353 |
|  | 2015
|  | Net Sales |  | Segment Profit (Loss)** |  | Segment Assets** |  | Depreciation/Amortization |  | Expenditures for Long-Lived Assets
Rail Products and Services |  | $ | 328,982 |  |  | $ | 27,037 |  |  | $ | 241,222 |  |  | $ | 8,098 |  |  | $ | 4,273 |
Construction Products |  | 176,394 |  |  | 12,958 |  |  | 86,335 |  |  | 2,720 |  |  | 1,260 |
Tubular and Energy Services |  | 119,147 |  |  | (81,344 | ) |  | 216,715 |  |  | 14,857 |  |  | 4,303 |
Total |  | $ | 624,523 |  |  | $ | (41,349 | ) |  | $ | 544,272 |  |  | $ | 25,675 |  |  | $ | 9,836 |
* | Segment loss includes impairment of goodwill, definite-lived intangible assets, and property, plant, and equipment as further described in Note 4 Goodwill and Other Intangible Assets and Note 7 Property, Plant, and Equipment.
** | Segment loss includes impairment of goodwill as further described in Note 4 Goodwill and Other Intangible Assets.
During 2017, 2016, and 2015, 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 (losses), assets, depreciation/amortization, and expenditures for long-lived assets to the Company’s consolidated totals are as follows for the years ended and as of December 31:
|  | 2017 |  | 2016 |  | 2015
Income (loss) from Operations: |  |  |  |  |  |
Profit (loss) for reportable segments |  | $ | 27,685 |  |  | $ | (134,165 | ) |  | $ | (41,349 | )
Interest expense |  | (8,377 | ) |  | (6,551 | ) |  | (4,378 | )
Interest income |  | 307 |  |  | 228 |  |  | 206 |
Other income |  | 367 |  |  | 1,523 |  |  | 5,585 |
LIFO (expense) income |  | (2,009 | ) |  | 2,643 |  |  | 2,468 |
Equity in income (loss) of nonconsolidated investments |  | 6 |  |  | (1,290 | ) |  | (413 | )
Corporate expense, cost of capital elimination, and other unallocated charges |  | (9,937 | ) |  | (9,557 | ) |  | (12,696 | )
Income (loss) before income taxes |  | $ | 8,042 |  |  | $ | (147,169 | ) |  | $ | (50,577 | )
Assets: |  |  |  |  |  |
Total for reportable segments |  | $ | 375,898 |  |  | $ | 355,129 |  |  | $ | 544,272 |
Unallocated corporate assets |  | 25,845 |  |  | 41,072 |  |  | 28,209 |
LIFO |  | (5,187 | ) |  | (3,178 | ) |  | (5,821 | )
Total Assets |  | $ | 396,556 |  |  | $ | 393,023 |  |  | $ | 566,660 |
Depreciation/Amortization: |  |  |  |  |  |
Total for reportable segments |  | $ | 18,369 |  |  | $ | 22,176 |  |  | $ | 25,675 |
Other |  | 1,472 |  |  | 1,316 |  |  | 999 |
Total |  | $ | 19,841 |  |  | $ | 23,492 |  |  | $ | 26,674 |
Expenditures for Long-Lived Assets: |  |  |  |  |  |
Total for reportable segments |  | $ | 5,587 |  |  | $ | 5,353 |  |  | $ | 9,836 |
Expenditures funded through financing agreements |  | — |  |  | — |  |  | 288 |
Other expenditures |  | 562 |  |  | 2,311 |  |  | 5,077 |
Total |  | $ | 6,149 |  |  | $ | 7,664 |  |  | $ | 15,201 |
The following table summarizes the Company’s sales by major geographic region in which the Company has operations for the years ended December 31:
|  | 2017 |  | 2016 |  | 2015
United States |  | $ | 431,868 |  |  | $ | 390,930 |  |  | $ | 522,404 |
Canada |  | 38,859 |  |  | 30,644 |  |  | 40,545 |
United Kingdom |  | 37,237 |  |  | 37,188 |  |  | 26,817 |
Other |  | 28,413 |  |  | 24,752 |  |  | 34,757 |
|  | $ | 536,377 |  |  | $ | 483,514 |  |  | $ | 624,523 |
The following table summarizes the Company’s long-lived assets by geographic region at December 31:
|  | 2017 |  | 2016 |  | 2015
United States |  | $ | 89,439 |  |  | $ | 96,650 |  |  | $ | 118,053 |
Canada |  | 4,788 |  |  | 5,445 |  |  | 6,186 |
United Kingdom |  | 1,850 |  |  | 1,842 |  |  | 2,449 |
Other |  | 19 |  |  | 36 |  |  | 57 |
|  | $ | 96,096 |  |  | $ | 103,973 |  |  | $ | 126,745 |
The following table summarizes the Company’s sales by major product line:
|  | 2017 |  | 2016 |  | 2015
Rail Technologies |  | $ | 100,257 |  |  | $ | 90,469 |  |  | $ | 98,237 |
Rail Distribution |  | 90,696 |  |  | 83,236 |  |  | 126,277 |
Piling |  | 73,158 |  |  | 70,535 |  |  | 94,853 |
Precast Concrete Products |  | 55,877 |  |  | 54,514 |  |  | 52,044 |
Test and Inspection Services |  | 39,198 |  |  | 20,765 |  |  | 35,906 |
Protective Coatings |  | 38,096 |  |  | 23,043 |  |  | 33,532 |
Fabricated Bridge |  | 32,766 |  |  | 20,553 |  |  | 29,496 |
Precision Measurement Systems |  | 29,670 |  |  | 42,830 |  |  | 36,048 |
Other products |  | 76,659 |  |  | 77,569 |  |  | 118,130 |
|  | $ | 536,377 |  |  | $ | 483,514 |  |  | $ | 624,523 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingDisclosureOfEntitysReportableSegmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration