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Business Segments | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Business Segments | Business Segments The Company is a global solutions provider of engineered, manufactured products and services that builds and supports infrastructure. The Company’s innovative engineering and product development solutions address the safety, reliability, and performance needs of its customers’ most challenging requirements. The Company maintains locations in North America, South America, Europe, and Asia. The Company’s segments represent components of the Company (a) that engage in activities from which revenue is generated and expenses are incurred, (b) whose operating results are regularly reviewed by the CODM, who uses such information to make decisions about resources to be allocated to the segments, and (c) for which discrete financial information is available. Operating segments are evaluated on their segment profit contribution to the Company’s consolidated results. Other income and expenses, interest, income taxes, and certain other items are managed on a consolidated basis. The Company’s segment accounting policies are described in Note 2 Business Segments of the Notes to the Company’s Consolidated Financial Statements contained in its Annual Report on Form 10-K for the year-ended December 31, 2021. The following table illustrates the Company’s revenues and profit (loss) from operations by segment for the periods indicated:
|  | Three Months Ended September 30, 2022 |  | Three Months Ended September 30, 2021
|  | Net Sales |  | Segment Operating Profit |  | Net Sales |  | Segment Operating Profit (Loss)
Rail, Technologies, and Services |  | $ | 77,350 |  |  | $ | 539 |  |  | $ | 73,942 |  |  | $ | 3,091 |
Precast Concrete Products |  | 28,856 |  |  | 1,245 |  |  | 17,972 |  |  | 144 |
Steel Products and Measurement |  | 23,809 |  |  | 303 |  |  | 38,139 |  |  | (27) |
Total |  | $ | 130,015 |  |  | $ | 2,087 |  |  | $ | 130,053 |  |  | $ | 3,208 |
|  | Nine Months Ended September 30, 2022 |  | Nine Months Ended September 30, 2021
|  | Net Sales |  | Segment Operating Profit (Loss) |  | Net Sales |  | Segment Operating Profit (Loss)
Rail, Technologies, and Services |  | $ | 222,857 |  |  | $ | 5,576 |  |  | $ | 228,956 |  |  | $ | 10,970 |
Precast Concrete Products |  | 67,477 |  |  | 329 |  |  | 50,723 |  |  | 1,175 |
Steel Products and Measurement |  | 69,990 |  |  | (1,083) |  |  | 120,976 |  |  | (140) |
Total |  | $ | 360,324 |  |  | $ | 4,822 |  |  | $ | 400,655 |  |  | $ | 12,005 |
Segment profit from operations, as shown above, includes allocated corporate operating expenses. 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 following table provides a reconciliation of segment net profit to the Company’s consolidated total for the periods presented:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Operating profit for reportable segments |  | $ | 2,087 |  |  | $ | 3,208 |  |  | $ | 4,822 |  |  | $ | 12,005 |
Interest expense - net |  | (993) |  |  | (722) |  |  | (1,747) |  |  | (2,454) |
Other (expense) income - net |  | (168) |  |  | 2,880 |  |  | 1,096 |  |  | 2,751 |
Unallocated corporate expenses and other unallocated charges |  | (3,207) |  |  | (2,450) |  |  | (5,749) |  |  | (6,984) |
(Loss) income from continuing operations before income taxes |  | $ | (2,281) |  |  | $ | 2,916 |  |  | $ | (1,578) |  |  | $ | 5,318 |
The following table illustrates assets of the Company by segment for the periods presented:
|  | September 30, 2022 |  | December 31, 2021
Rail, Technologies, and Services |  | $ | 165,651 |  |  | $ | 171,608 |
Precast Concrete Products |  | 116,519 |  |  | 48,740 |
Steel Products and Measurement |  | 64,830 |  |  | 58,377 |
Unallocated corporate assets |  | 66,192 |  |  | 63,870 |
Total |  | $ | 413,192 |  |  | $ | 342,595 |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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