XML 24 R13.htm IDEA: XBRL DOCUMENT
v3.23.2

Goodwill and Other Intangible Assets | 6 Months Ended
--- | ---
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets The following table presents the changes in goodwill balance by reportable segment for the period presented:
|  | Rail, Technologies, and Services |  | Precast Concrete Products |  | Steel Products and Measurement |  | Total
Balance as of December 31, 2022 |  | $ | 19,948 |  |  | $ | 10,785 |  |  | $ | — |  |  | $ | 30,733 |
VanHooseCo acquisition |  | — |  |  | 242 |  |  | — |  |  | 242 |
Foreign currency translation impact |  | 429 |  |  | — |  |  | — |  |  | 429 |
Balance as of June 30, 2023 |  | $ | 20,377 |  |  | $ | 11,027 |  |  | $ | — |  |  | $ | 31,404 |
The Company performs goodwill impairment tests annually during the fourth quarter, and also performs interim goodwill impairment tests if it is determined that it is more likely than not that the fair value of a reporting unit is less than the carrying amount. Qualitative factors are assessed to determine whether it is more likely than not that the fair value of a reporting unit is less than the carrying amount, which included the impacts of current economic conditions, including but not limited to labor markets, supply chains, and other inflationary costs. However, these factors can be unpredictable and are subject to change. No interim goodwill impairment test was required as a result of the evaluation of qualitative factors as of June 30, 2023. However, future impairment charges could result if future projections diverge unfavorably from current expectations in the Rail Technologies and Precast Concrete Products reporting units. As of June 30, 2023 and December 31, 2022, the components of the Company’s intangible assets were as follows:
|  | June 30, 2023 |  |
|  | Weighted Average Amortization Period In Years |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Amount |  |
Patents |  | 10 |  | $ | 338 |  |  | $ | (197) |  |  | $ | 141 |  |  |
Customer relationships |  | 16 |  | 27,656 |  |  | (15,828) |  |  | 11,828 |  |  |
Trademarks and trade names |  | 16 |  | 7,983 |  |  | (4,299) |  |  | 3,684 |  |  |
Technology |  | 14 |  | 32,306 |  |  | (26,978) |  |  | 5,328 |  |  |
Favorable lease |  | 6 |  | 327 |  |  | (52) |  |  | 275 |  |  |
|  |  |  | $ | 68,610 |  |  | $ | (47,354) |  |  | $ | 21,256 |  |  |
During the six months ended June 30, 2023, certain fully amortized intangible assets of $28 related to non-compete agreements were eliminated from gross intangible assets and accumulated amortization.
|  | December 31, 2022
|  | Weighted Average Amortization Period In Years |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Amount
Non-compete agreements |  | 1 |  | $ | 27 |  |  | $ | (16) |  |  | $ | 11 |
Patents |  | 10 |  | 330 |  |  | (187) |  |  | 143 |
Customer relationships |  | 16 |  | 27,184 |  |  | (14,129) |  |  | 13,055 |
Trademarks and trade names |  | 16 |  | 7,933 |  |  | (3,989) |  |  | 3,944 |
Technology |  | 14 |  | 32,201 |  |  | (25,827) |  |  | 6,374 |
Favorable lease |  | 6 |  | 327 |  |  | (23) |  |  | 304 |
|  |  |  | $ | 68,002 |  |  | $ | (44,171) |  |  | $ | 23,831 |
On June 21, 2022, the Company acquired the stock of Skratch Enterprises Ltd. (“Skratch”). On August 12, 2022, the Company acquired the operating assets of VanHooseCo Precast LLC (“VanHooseCo”). As of June 30, 2023, the purchase accounting for these transactions is final.

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

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration