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Revenue (Tables) | 6 Months Ended
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Jun. 30, 2023
Revenue from Contract with Customer [Abstract] |
Schedule of Revenues by Major Product Line | The following table summarizes the Company’s net sales by major product and service category for the periods presented:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Rail Products and Global Friction Management |  | $ | 81,926 |  |  | $ | 70,416 |  |  | $ | 137,974 |  |  | $ | 122,067 |
Technology Services and Solutions |  | 9,690 |  |  | 11,381 |  |  | 18,026 |  |  | 23,440 |
Rail, Technologies, and Services |  | 91,616 |  |  | 81,797 |  |  | 156,000 |  |  | 145,507 |
Precast Concrete Buildings |  | 19,325 |  |  | 15,811 |  |  | 30,211 |  |  | 25,781 |
Precast Infrastructure Products |  | 14,540 |  |  | 7,800 |  |  | 27,942 |  |  | 12,840 |
Precast Concrete Products |  | 33,865 |  |  | 23,611 |  |  | 58,153 |  |  | 38,621 |
Fabricated Steel Products |  | 14,854 |  |  | 17,967 |  |  | 25,371 |  |  | 30,571 |
Coatings and Measurement |  | 7,699 |  |  | 8,140 |  |  | 23,998 |  |  | 15,610 |
Steel Products and Measurement |  | 22,553 |  |  | 26,107 |  |  | 49,369 |  |  | 46,181 |
Total net sales |  | $ | 148,034 |  |  | $ | 131,515 |  |  | $ | 263,522 |  |  | $ | 230,309 |
Schedule of Disaggregation of Revenue | Net sales by the timing of the transfer of goods and services was as follows for the periods presented:
|  | Three Months Ended June 30, 2023
|  | Rail, Technologies, and Services |  | Precast Concrete Products |  | Steel Products and Measurement |  | Total
Point in time |  | $ | 75,923 |  |  | $ | 14,540 |  |  | $ | 20,407 |  |  | $ | 110,870 |
Over time |  | 15,693 |  |  | 19,325 |  |  | 2,146 |  |  | 37,164 |
Total net sales |  | $ | 91,616 |  |  | $ | 33,865 |  |  | $ | 22,553 |  |  | $ | 148,034 |
|  | Three Months Ended June 30, 2022
|  | Rail, Technologies, and Services |  | Precast Concrete Products |  | Steel Products and Measurement |  | Total
Point in time |  | $ | 65,872 |  |  | $ | 8,577 |  |  | $ | 20,964 |  |  | $ | 95,413 |
Over time |  | 15,925 |  |  | 15,034 |  |  | 5,143 |  |  | 36,102 |
Total net sales |  | $ | 81,797 |  |  | $ | 23,611 |  |  | $ | 26,107 |  |  | $ | 131,515 |
|  | Six Months Ended June 30, 2023
|  | Rail, Technologies, and Services |  | Precast Concrete Products |  | Steel Products and Measurement |  | Total
Point in time |  | $ | 129,757 |  |  | $ | 27,942 |  |  | $ | 36,133 |  |  | $ | 193,832 |
Over time |  | 26,243 |  |  | 30,211 |  |  | 13,236 |  |  | 69,690 |
Total net sales |  | $ | 156,000 |  |  | $ | 58,153 |  |  | $ | 49,369 |  |  | $ | 263,522 |
|  | Six Months Ended June 30, 2022
|  | Rail, Technologies, and Services |  | Precast Concrete Products |  | Steel Products and Measurement |  | Total
Point in time |  | $ | 115,038 |  |  | $ | 12,840 |  |  | $ | 36,026 |  |  | $ | 163,904 |
Over time |  | 30,469 |  |  | 25,781 |  |  | 10,155 |  |  | 66,405 |
Total net sales |  | $ | 145,507 |  |  | $ | 38,621 |  |  | $ | 46,181 |  |  | $ | 230,309 |
Revenue recognized over time was as follows for the periods presented:
|  | Three Months Ended June 30, |  | Percentage of Total Net Sales Three Months Ended June 30,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Over time input method |  | $ | 15,724 |  |  | $ | 20,089 |  |  | 10.6 | % |  | 15.3 | %
Over time output method |  | 21,440 |  |  | 16,013 |  |  | 14.5 |  |  | 12.2 |
Total over time sales |  | $ | 37,164 |  |  | $ | 36,102 |  |  | 25.1 | % |  | 27.5 | %
|  | Six Months Ended June 30, |  | Percentage of Total Net Sales Six Months Ended June 30,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Over time input method |  | $ | 31,935 |  |  | $ | 39,411 |  |  | 12.1 | % |  | 17.1 | %
Over time output method |  | 37,755 |  |  | 26,994 |  |  | 14.3 |  |  | 11.7 |
Total over time sales |  | $ | 69,690 |  |  | $ | 66,405 |  |  | 26.4 | % |  | 28.8 | %
Schedule of Contract with Customer, Contract Asset, Contract Liability | The following table sets forth the Company’s contract assets:
|  | Contract Assets
Balance as of December 31, 2022 |  | $ | 33,613 |
Net additions to contract assets |  | 4,797 |
Transfers from contract asset balance to accounts receivable |  | (4,399) |
Balance as of June 30, 2023 |  | $ | 34,011 |
The following table sets forth the Company’s contract liabilities:
|  | Contract Liabilities
Balance as of December 31, 2022 |  | $ | 6,781 |
Revenue recognized from contract liabilities |  | (4,049) |
Increase in billings in excess of cost, excluding revenue recognized |  | 3,525 |
Other adjustments, including business divestiture |  | (1,938) |
Balance as of June 30, 2023 |  | $ | 4,319 |

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