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Business Segments | 3 Months Ended
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Mar. 31, 2018
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 ("CODM") in deciding how to allocate resources. Each segment is evaluated based upon its segment profit (loss) 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 March 31, 2018 |  | Three Months Ended March 31, 2017
|  | Net Sales |  | Segment Profit |  | Net Sales |  | Segment Profit (Loss)
Rail Products and Services |  | $ | 62,170 |  |  | $ | 2,048 |  |  | $ | 56,480 |  |  | $ | 823 |
Construction Products |  | 28,900 |  |  | 18 |  |  | 37,322 |  |  | 1,666 |
Tubular and Energy Services |  | 31,384 |  |  | 1,885 |  |  | 24,900 |  |  | (680 | )
Total |  | $ | 122,454 |  |  | $ | 3,951 |  |  | $ | 118,702 |  |  | $ | 1,809 |
Segment profit (loss) from operations, as shown above, includes allocated corporate operating expenses. The allocation of corporate operating expenses differs from the calculation of segment profit (loss) from operations for prior periods, which reflected a cost of capital for the assets used in each segment at a rate of generally 1% per month. Since December 31, 2017, operating expenses related to corporate headquarter functions that directly support the segment activity are allocated based on segment headcount, revenue contribution, or activity of the business units within the segments, based on the corporate activity type provided to the segment. The expense allocation excludes certain corporate costs that are separately managed from the segments. The prior year period has been updated to reflect the change in segment measurement by allocating corporate operating expenses. Management believes the current allocation of corporate operating expenses provides a more accurate presentation of how the segments utilize corporate support activities as compared to the cost of capital method previously used. This provides the CODM more meaningful segment profitability reporting to support operating decisions and allocate resources. The following table provides a reconciliation of reportable segment net profit from operations to the Company’s consolidated total:
|  | Three Months Ended March 31,
|  | 2018 |  | 2017
Profit for reportable segments |  | $ | 3,951 |  |  | $ | 1,809 |
Interest expense |  | (1,958 | ) |  | (2,108 | )
Interest income |  | 71 |  |  | 56 |
Other income (expense) |  | 608 |  |  | (5 | )
LIFO (expense) income |  | (164 | ) |  | 11 |
Equity in loss of nonconsolidated investments |  | (3 | ) |  | (200 | )
Unallocated corporate expense and other unallocated charges |  | (4,002 | ) |  | (1,554 | )
Loss before income taxes |  | $ | (1,497 | ) |  | $ | (1,991 | )
There has been no change in the measurement of segment assets since December 31, 2017. The following table illustrates assets of the Company by segment:
|  | March 31, 2018 |  | December 31, 2017
Rail Products and Services |  | $ | 171,081 |  |  | $ | 192,038 |
Construction Products |  | 81,325 |  |  | 83,154 |
Tubular and Energy Services |  | 97,755 |  |  | 100,706 |
Unallocated corporate assets |  | 23,259 |  |  | 20,658 |
Total |  | $ | 373,420 |  |  | $ | 396,556 |

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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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