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Other Expense (Income) - net | 12 Months Ended
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Dec. 31, 2023
Other Income and Expenses [Abstract] |
Other Expense (Income) - net | Other Expense (Income) - net The following table summarizes the Company’s other expense (income) - net for the years ended December 31, 2023 and 2022:
|  | 2023 |  | 2022 |  |
Loss on the sale of Chemtec (a) |  | $ | 2,065 |  |  | $ | — |  |  |
Loss on the sale of Concrete Ties (b) |  | 1,009 |  |  | — |  |  |
Gain on Piling Products division asset sale (c) |  | — |  |  | (489) |  |  |
Insurance proceeds (d) |  | (215) |  |  | (790) |  |  |
Loss on the sale of Track Components (e) |  | — |  |  | 467 |  |  |
Costs recovered from environmental cleanup activities (f) |  | — |  |  | (325) |  |  |
Foreign currency losses |  | 77 |  |  | 434 |  |  |
Other |  | (301) |  |  | (847) |  |  |
Other expense (income) - net |  | $ | 2,635 |  |  | $ | (1,550) |  |  |
a.On March 30, 2023, the Company sold substantially all the operating assets of its Chemtec business, which was inclusive of its entire Precision Measurement Products and Services division, generating a $2,065 pre-tax loss. b.On June 30, 2023, the Company sold substantially all the operating assets of the Ties business, located in Spokane, WA, generating a $1,009 loss on the sale. c.On September 27, 2021, the Company announced it completed the sale of its Piling Products division to J.D. Fields & Company, Inc., resulting in a pre-tax gain of $489 in 2022. d.In 2023 and 2022, the Company received $215 and $790, respectively, in insurance proceeds. e.On August 1, 2022, the Company divested the assets of its rail spikes and anchors track components business located in St-Jean-sur-Richelieu, Quebec, Canada, resulting in a pre-tax loss of $467 in 2022. f.In 2022, the Company received $325 to recover costs associated with environmental cleanup activities in a formerly leased property in Magnolia, TX.

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 610 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//610/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 720 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//720/tableOfContent + Details
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