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Business Segments

BUSINESS SEGMENTSThe 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 operates in three different operating segments: the Rail Products and Services segment, the Construction Products segment, and the Tubular and Energy Services segment. The 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 Chief Operating Decision Maker (“CODM”), who makes 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, unless otherwise noted, are the same as those described in the 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, 2017.

The following table illustrates the Company's revenues and profit from operations by segment for the periods indicated:


	Three Months Ended September 30, 2018						Three Months Ended September 30, 2017
	Net Sales		Segment Profit		Net Sales		Segment Profit
Rail Products and Services	$	84,517	$	5,299	$	62,095	$	3,179
Construction Products	41,534		1,603		39,118		3,846
Tubular and Energy Services	41,043		4,274		30,279		2,093
Total	$	167,094	$	11,176	$	131,492	$	9,118

	Nine Months Ended September 30, 2018						Nine Months Ended September 30, 2017
	Net Sales		Segment Profit		Net Sales		Segment Profit
Rail Products and Services	$	238,571	$	12,655	$	187,922	$	7,581
Construction Products	112,641		4,478		121,905		10,617
Tubular and Energy Services	111,226		10,704		85,227		1,287
Total	$	462,438	$	27,837	$	395,054	$	19,485

Segment profit from operations, as shown above, includes allocated corporate operating expenses. Prior to January 1, 2018, the allocation of corporate operating expenses reflected a cost of capital for the assets used in each segment at a rate of generally 1% per month. In 2018, 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 periods have been updated to reflect the change in 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 the allocation of resources.

The following table provides a reconciliation of segment net profit from operations to the Company’s consolidated total:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
Profit for reportable segments	$	11,176	$	9,118	$	27,837	$	19,485
Interest expense	(1,367)		(2,026)		(4,979)		(6,315)
Interest income	71		56		166		166
Other (expense) income	(153)		551		327		564
LIFO expense	(1,701)		(1,552)		(2,414)		(1,733)
Equity in (loss) income of nonconsolidated investments	(4)		50		(7)		(5)
Unallocated corporate expenses and other unallocated charges	(3,297)		(3,183)		(12,089)		(7,640)
Income before income taxes	$	4,725	$	3,014	$	8,841	$	4,522

The following table illustrates assets of the Company by segment:


	September 30, 2018		December 31, 2017
Rail Products and Services	$	171,183	$	192,038
Construction Products	92,996		83,154
Tubular and Energy Services	90,984		100,706
Unallocated corporate assets	15,383		20,658
Total	$	370,546	$	396,556

Revenue

9 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Revenue

REVENUE

On January 1, 2018, the Company adopted ASU 2014-09, and all the related amendments using the modified retrospective approach, which did not result in any changes to the previously reported financial information. The updates related to ASU 2014-09 were applied only to contracts that were not complete as of January 1, 2018.

The Company’s revenues are comprised of product and service sales, including products and services provided under long-term agreements with its customers. All revenue is recognized when the Company satisfies its performance obligations under the contract, either implicit or explicit, by transferring the promised product or rendering a service to its customer either when or as its customer obtains control of the product or the service is rendered. A performance obligation is a promise in a contract to transfer a distinct product or render a service to a customer. A contract’s transaction price is allocated to each distinct performance obligation. The majority of the Company’s contracts have a single performance obligation, as the promise to transfer products or render services is not separately identifiable from other promises in the contract and, therefore, not distinct. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products or providing services. Revenue is recorded net of returns, allowances, customer discounts, and incentives. Sales, value added, and other taxes collected from customers and remitted to governmental authorities are accounted for on a net (excluded from revenues) basis. Shipping and handling costs are included in cost of goods sold.

The Company’s performance obligations under long-term agreements with its customers are generally satisfied as over time. Over time revenue is primarily comprised of transit infrastructure projects within Rail Products and Rail Technologies, long-term bridge projects within Piling and Fabricated Bridge, precast concrete buildings within Precast Concrete Products, and custom precision metering systems within Protective Coatings and Measurement Solutions. Revenue from products or services provided to customers over time accounted for 26.8% and 24.0% of revenue for the three months ended September 30, 2018 and 2017, respectively, and 25.2% and 23.3% of revenue for the nine months ended September 30, 2018 and 2017, respectively. Revenue under these long-term agreements is generally recognized over time either using an input measure based upon the proportion of actual costs incurred to estimated total project costs or an input measure based upon actual labor costs as a percentage of estimated total labor costs, depending upon which measure the Company believes best depicts the Company’s performance to date under the terms of the contract. Revenue recognized over time using an input measure was $33,225 and $20,447 for the three months ended September 30, 2018 and 2017, respectively, and $87,369 and $61,892 for the nine months ended September 30, 2018 and 2017, respectively. A certain portion of the Company’s revenue recognized over time under these long-term agreements is recognized using an output method, specifically units delivered, based upon certain customer acceptance and delivery requirements. Revenue recognized over time using an output measure was $11,510 and $11,096 for the three months ended September 30, 2018 and 2017, respectively, and $29,064 and $30,108 for the nine months ended September 30, 2018 and 2017, respectively. As of September 30, 2018 and December 31, 2017, the Company had contract assets of $27,796 and $25,320, respectively, that were recorded in inventory within the Condensed Consolidated Balance Sheets. As of September 30, 2018 and December 31, 2017, the Company had contract liabilities of $2,423 and $1,420, respectively, that were recorded in deferred revenue within the Condensed Consolidated Balance Sheets.

Accounting for these long-term agreements involves the use of various techniques to estimate total revenues and costs. The Company estimates profit on these long-term agreements as the difference between total estimated revenues and expected costs to complete a contract and recognizes that profit over the life of the contract. Contract estimates are based on various assumptions to project the outcome of future events that may span several years. These assumptions include, among other things, labor productivity, cost and availability of materials, and timing of funding by customers. The nature of these long-term agreements may give rise to several types of variable consideration, such as claims, awards, and incentive fees. Historically, these amounts of variable consideration have not been considered significant. Contract estimates may include additional revenue for submitted contract modifications if there exists an enforceable right to the modification, the amount can be reasonably estimated, and its realization is probable. These estimates are based on historical collection experience, anticipated performance, and the Company’s best judgment at that time. These amounts are generally included in the contract’s transaction price and are allocated over the remaining performance obligations. Changes in judgments related to the estimates above

could impact the timing and amount of revenue recognized and, accordingly, the timing and amount of associated income. In the event that a contract loss becomes known, the entire amount of the estimated loss is recognized in the Condensed Consolidated Statements of Operations.

The majority of the Company’s revenue is from products transferred and services rendered to customers at a point in time, which is inherent in all major product and service categories. Point in time revenue accounted for 73.2% and 76.0% of revenue for the three months ended September 30, 2018 and 2017, respectively, and 74.8% and 76.7% of revenue for the nine months ended September 30, 2018 and 2017, respectively. The Company recognizes revenue at the point in time in which the customer

obtains control of the product or service, which is generally when product title passes to the customer upon shipment or the service has been rendered to the customer. In limited cases, title does not transfer and revenue is not recognized until the customer has received the products at a designated physical location.

The following table summarizes the Company's net sales by major product and service category:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
Rail Products	$	49,234	$	36,297	$	139,600	$	115,061
Rail Technologies	35,283		25,798		98,971		72,861
Rail Products and Services	84,517		62,095		238,571		187,922
Piling and Fabricated Bridge	26,798		24,186		71,505		83,016
Precast Concrete Products	14,736		14,932		41,136		38,889
Construction Products	41,534		39,118		112,641		121,905
Test, Inspection, and Threading	15,296		13,729		44,517		37,661
Protective Coatings and Measurement Solutions	25,747		16,550		66,709		47,566
Tubular and Energy Services	41,043		30,279		111,226		85,227
Total net sales	$	167,094	$	131,492	$	462,438	$	395,054

Net sales by the timing of the transfer of goods and services is as follows:


Three Months Ended September 30, 2018	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	61,426	$	27,459	$	33,474	$	122,359
Over time	23,091		14,075		7,569		44,735
Total net sales	$	84,517	$	41,534	$	41,043	$	167,094

Three Months Ended September 30, 2017	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	51,043	$	22,768	$	26,138	$	99,949
Over time	11,052		16,350		4,141		31,543
Total net sales	$	62,095	$	39,118	$	30,279	$	131,492


Nine Months Ended September 30, 2018	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	176,592	$	74,581	$	94,832	$	346,005
Over time	61,979		38,060		16,394		116,433
Total net sales	$	238,571	$	112,641	$	111,226	$	462,438

Nine Months Ended September 30, 2017	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	153,707	$	76,158	$	73,189	$	303,054
Over time	34,215		45,747		12,038		92,000
Total net sales	$	187,922	$	121,905	$	85,227	$	395,054

The timing of revenue recognition, billings, and cash collections results in billed receivables, costs in excess of billings (contract assets, included in inventory), and billings in excess of costs (contract liabilities, included in deferred revenue) on the Condensed Consolidated Balance Sheets.

Significant changes in contract assets during the nine months ended September 30, 2018 include transfers to receivables from contract assets recognized at the beginning of the period of $14,528. Significant changes in contract liabilities during the nine months ended September 30, 2018 included $1,146 of revenue recognized that was included in the contract liability at the

beginning of the period, and increases of $1,754 due to billings in excess of costs, excluding amounts recognized as revenue during the period.

As of September 30, 2018, the Company had approximately $251,617 of remaining performance obligations, which is also referred to as backlog. Approximately 10.0% of the September 30, 2018 backlog is related to projects that are anticipated to extend beyond September 30, 2019.

Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2018

Goodwill and Other Intangible Assets

GOODWILL AND OTHER INTANGIBLE ASSETS

The following table presents the goodwill balance by reportable segment:


	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Balance as of December 31, 2017	$	14,638	$	5,147	$	—	$	19,785
Foreign currency translation impact	(336)		—		—		(336)
Balance as of September 30, 2018	$	14,302	$	5,147	$	—	$	19,449

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. No interim goodwill impairment test was required in connection with the evaluation of qualitative factors as of September 30, 2018. The Company continues to monitor the recoverability of the long-lived assets associated with certain reporting units of the Company and their long-term financial projections. Sustained declines in the markets we serve may result in future long-lived asset impairment.

The following table represents the gross balances of other intangible asset by reportable segment:


	September 30, 2018		December 31, 2017
Rail Products and Services*	$	57,151	$	57,654
Construction Products	1,348		1,348
Tubular and Energy Services	29,179		29,179
	$	87,678	$	88,181

* Gross balances include the impact of foreign currency translation adjustments.

The components of the Company’s intangible assets were as follows:


	September 30, 2018
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	5	$	4,215	$	(3,757)	$	458
Patents	10	379		(172)		207
Customer relationships	18	37,333		(10,869)		26,464
Trademarks and trade names	14	10,057		(4,710)		5,347
Technology	14	35,694		(16,369)		19,325
		$	87,678	$	(35,877)	$	51,801

	December 31, 2017
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	5	$	4,238	$	(3,100)	$	1,138
Patents	10	389		(164)		225
Customer relationships	17	37,679		(9,171)		28,508
Trademarks and trade names	14	10,085		(4,091)		5,994
Technology	14	35,790		(14,215)		21,575
		$	88,181	$	(30,741)	$	57,440

Intangible assets are amortized over their useful lives, which range from 4 to 25 years, with a total weighted average amortization period of approximately 15 years as of September 30, 2018. Amortization expense was $1,762 and $1,764 for the three months ended September 30, 2018 and 2017, respectively, and $5,322 and $5,218 for the nine months ended September 30, 2018 and 2017, respectively.

As of September 30, 2018, estimated amortization expense for the remainder of 2018 and thereafter was as follows:


	Amortization Expense
Remainder of 2018	$	1,667
2019	6,262
2020	5,942
2021	5,923
2022	5,881
2023 and thereafter	26,126
	$	51,801

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

Accounts Receivable	9 Months Ended
Accounts Receivable	Sep. 30, 2018
Accounts Receivable Additional Disclosures [Abstract]
Accounts Receivable	ACCOUNTS RECEIVABLECredit is extended based upon an evaluation of the customer’s financial condition and, while collateral is not required, the Company periodically receives surety bonds that guarantee payment. Credit terms are consistent with industry standards and practices. The amounts of trade accounts receivable as of September 30, 2018 and December 31, 2017 have been reduced by an allowance for doubtful accounts of $1,297 and $2,151, respectively. Changes in reserves for uncollectable accounts are recorded as part of selling and administrative expenses in the Condensed Consolidated Statements of Operations, and were income of $268 and expense of $208 for the three months ended September 30, 2018 and 2017, respectively, and income of $987 and expense of $737 for the nine months ended September 30, 2018 and 2017, respectively.

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

Inventories

9 Months Ended

Sep. 30, 2018

Inventories

INVENTORIES

Inventories as of September 30, 2018 and December 31, 2017 are summarized in the following table:


	September 30, 2018		December 31, 2017
Finished goods	$	55,988	$	55,846
Contract assets	27,796		25,320
Work-in-process	8,364		4,059
Raw materials	22,653		17,505
Total inventories at current costs	114,801		102,730
Less LIFO reserve	(7,601)		(5,187)
	$	107,200	$	97,543

Inventory is generally valued at the lower of last-in, first-out (“LIFO”) cost or market. Other inventories of the Company are valued at average cost or net realizable value, whichever is lower. An actual valuation of inventory under the LIFO method is made at the end of each year based on the inventory levels and costs at that time. Interim LIFO calculations are based on management’s estimates of expected year-end levels and costs. Prior to the adoption of ASU 2014-09, contract assets were classified within work-in-process inventory.

Property, Plant and Equipment

9 Months Ended

Sep. 30, 2018

PROPERTY, PLANT, AND EQUIPMENT

Property, plant, and equipment as of September 30, 2018 and December 31, 2017 consisted of the following:


	September 30, 2018		December 31, 2017
Land	$	12,535	$	14,869
Improvements to land and leaseholds	17,482		17,415
Buildings	34,860		34,929
Machinery and equipment, including equipment under capitalized leases	120,671		120,806
Construction in progress	2,724		1,057
	188,272		189,076
Less accumulated depreciation and amortization, including accumulated amortization of capitalized leases	(100,378)		(92,980)
	$	87,894	$	96,096

Depreciation expense for the three months ended September 30, 2018 and 2017 was $2,803 and $3,178, respectively, and $8,685 and $9,705 for the nine months ended September 30, 2018 and 2017, respectively.

We review our property, plant, and equipment for recoverability whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. We recognize an impairment loss if the carrying amount of a long-lived asset is not recoverable and exceeds its fair value. There were no impairments of property, plant, and equipment during the nine months ended September 30, 2018 and 2017.

During the nine months ended September 30, 2018, the Company sold 54.5 acres of land in exchange for cash proceeds of $2,047, resulting in a loss of $269.

Investments

9 Months Ended

Sep. 30, 2018

Investments

INVESTMENTS

During the quarter ended September 30, 2017, pursuant to the limited liability company agreement, the Company determined to sell its 45% ownership interest in L B Pipe and Coupling Products, LLC (“L B Pipe JV”) to the other 45% equity holder. The Company concluded that it had met the criteria under applicable guidance for a long-lived asset to be held for sale, and, accordingly, reclassified its L B Pipe JV investment of $4,288 as a current asset held for sale within other current assets. The asset was subsequently remeasured to its fair market value of $3,875. The difference between the fair market value and the Company's carrying amount of $413 was recorded as an other-than-temporary impairment during 2017.

On August 1, 2018, the Company executed the sale of its 45% ownership interest in L B Pipe JV. Under the terms of the agreement, the Company received payment of $3,875 for its 45% ownership interest and $1,235, plus $159 in accrued interest, as repayment of the outstanding revolving line of credit.

As of September 30, 2018 and December 31, 2017, the Company had a nonconsolidated equity method investment of $155 and $162, respectively.

The Company recorded equity in the income of L B Pipe JV of $0 and $434 for the three months ended September 30, 2018 and 2017, respectively, and $0 and $386, respectively, for the nine months ended September 30, 2018 and 2017.

During 2016, the Company and the other 45% member each executed a revolving line of credit with L B Pipe JV with an available limit of $1,350. The Company and the other 45% member each loaned $1,235 to L B Pipe JV in an effort to maintain compliance with L B Pipe JV’s debt covenants with an unaffiliated bank. The Company received its outstanding loan balance, including accrued interest, at the August 1, 2018 sale date.

The Company’s exposure to loss results from its capital contributions and loans, net of the Company’s share of L B Pipe JV’s income or loss, and its net investment in the direct financing lease covering the facility used by L B Pipe JV for its operations.

The carrying amounts with the Company’s maximum exposure to loss as of September 30, 2018 and December 31, 2017, respectively, were as follows:


	September 30, 2018		December 31, 2017
L B Pipe JV investment	$	—	$	3,875
Revolving line of credit	—		1,235
Net investment in direct financing lease	602		735
	$	602	$	5,845

The Company is leasing five acres of land and two facilities to L B Pipe JV. Subsequent to the Company's sale of its 45% ownership interest in L B Pipe JV, the Company and L B Pipe JV agreed upon a lease extension through June 30, 2020, with no further renewal period. The current monthly lease payments approximate $17, with a balloon payment of approximately $488, which is required to be paid on or before April 1, 2019. This lease qualifies as a direct financing lease under the applicable guidance in ASC 840-30, “Leases.”

The following is a schedule as of September 30, 2018 of the direct financing minimum lease payments for the remainder of 2018 and the year 2019:


	Minimum Lease Payments
Remainder of 2018	$	35
2019	567

	$	602

Long-Term Debt

9 Months Ended

Sep. 30, 2018

Long-Term Debt

LONG-TERM DEBT

North America

Long-term debt consisted of the following:


	September 30, 2018		December 31, 2017
Revolving credit facility	$	75,401	$	128,470

Capital leases and financing agreements	1,069		1,496
Total	76,470		129,966
Less current maturities	(630)		(656)
Long-term portion	$	75,840	$	129,310

On November 7, 2016, the Company, its domestic subsidiaries, and certain of its Canadian subsidiaries entered into the Second Amendment (the “Second Amendment”) to the Second Amended and Restated Credit Agreement dated March 13, 2015 and as amended by the First Amendment dated June 29, 2016 (the “Amended and Restated Credit Agreement”), with PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company. This Second Amendment modified the Amended and Restated Credit Agreement, which had a maximum revolving credit line of $275,000. The Second Amendment reduced the permitted revolving credit borrowings to $195,000 and provided for additional term loan borrowing of $30,000 (the “Term Loan”). During 2017, the Company paid off the balance of the Term Loan. Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Second Amendment or Amended and Restated Credit Agreement filed as Exhibit 10.3 to the Company's Annual Report on Form 10-K for the year ended December 31, 2017, as applicable.

The Second Amendment further provided for modifications to the financial covenants as defined in the Amended and Restated Credit Agreement. The Second Amendment calls for the elimination of the Maximum Leverage Ratio covenant through the quarter ended June 30, 2018. After that period, the Maximum Gross Leverage Ratio covenant will be reinstated to require a maximum ratio of 4.25 Consolidated Indebtedness to 1.00 Gross Leverage for the quarter ended September 30, 2018, and 3.75 to 1.00 for all periods thereafter until the maturity date of the credit facility. The Second Amendment also includes a Minimum Last Twelve Months EBITDA covenant (“Minimum EBITDA”). For the quarter ended December 31, 2016 through the quarter ended June 30, 2017, the Minimum EBITDA had to be at least $18,500. For each quarter thereafter, through the quarter ended June 30, 2018, the Minimum EBITDA requirement increased by various increments. On June 30, 2018, the Minimum EBITDA requirement was $31,000. After the quarter ended June 30, 2018, the Minimum EBITDA covenant was eliminated through the remainder of the Amended and Restated Credit Agreement. The Second Amendment also includes a Minimum Fixed Charge

Coverage Ratio covenant. The covenant represents the ratio of the Company’s fixed charges to the last twelve months of EBITDA, and is required to be a minimum of 1.00 to 1.00 through the quarter ended December 31, 2017 and 1.25 to 1.00 for each quarter thereafter through the maturity of the credit facility. The final financial covenant included in the Second Amendment was a Minimum Liquidity covenant which called for a minimum of $25,000 in undrawn availability on the revolving credit loan at all times through the quarter ended June 30, 2018.

The Second Amendment includes several changes to certain non-financial covenants as defined in the Amended and Restated Credit Agreement. Through the maturity date of the loan, the Company is prohibited from making any future acquisitions. The limitation on permitted annual distributions of dividends or redemptions of the Company’s stock was decreased from $4,000 to $1,700. The aggregate limitation on loans to and investments in non-loan parties was decreased from $10,000 to $5,000. Furthermore, the limitation on asset sales has been decreased from $25,000 annually with a carryover of up to $15,000 from the prior year to $25,000 in the aggregate through the maturity date of the credit facility.

As of September 30, 2018, L.B. Foster was in compliance with the Second Amendment’s covenants.

The Second Amendment provided for the elimination of the three lowest tiers of the pricing grid that had previously been defined in the First Amendment. Upon execution of the Second Amendment through the quarter ended March 31, 2018, the Company was locked into the highest tier of the pricing grid, which provided for pricing of the prime rate plus 225 basis points on base rate loans and the applicable LIBOR rate plus 325 basis points on euro rate loans. For each quarter after March 31, 2018 and through the maturity date of the credit facility, the Company’s position on the pricing grid is governed by a Minimum Net Leverage ratio, which is the ratio of Consolidated Indebtedness less cash on hand in excess of $15,000 to EBITDA. If, after March 31, 2018, the Minimum Net Leverage ratio positions the Company on the lowest tier of the pricing grid, pricing will be the prime rate plus 150 basis points on base rate loans or the applicable LIBOR rate plus 250 basis points on euro rate loans.

As of September 30, 2018, L.B. Foster had outstanding letters of credit of approximately $425 and had net available borrowing capacity of $119,174. The maturity date of the facility is March 13, 2020.

United Kingdom

A subsidiary of the Company has a credit facility with NatWest Bank for its United Kingdom operations, which includes an overdraft availability of £1,500 pounds sterling (approximately $1,955 as of September 30, 2018). This credit facility supports the subsidiary’s working capital requirements and is collateralized by substantially all of the assets of its United Kingdom operations. The variable interest rate on this facility is the financial institution’s base rate plus 2.50%. Outstanding performance bonds reduce availability under this credit facility. The subsidiary of the Company had no outstanding borrowings under this credit facility as of September 30, 2018. There was approximately $319 in outstanding guarantees (as defined in the underlying agreement) as of September 30, 2018. This credit facility was renewed during the third quarter of 2018 with all underlying terms and conditions remaining unchanged as a result of the renewal. It is the Company’s intention to renew this credit facility with NatWest Bank during the annual review within the third quarter of 2019.

The United Kingdom credit facility contains certain financial covenants that require the subsidiary to maintain senior interest and cash flow coverage ratios. The subsidiary was in compliance with these financial covenants as of September 30, 2018. The subsidiary had available borrowing capacity of $1,636 as of September 30, 2018.

Fair Value Measurements

9 Months Ended

Sep. 30, 2018

Fair Value Measurements

FAIR VALUE MEASUREMENTS

The Company determines the fair value of assets and liabilities based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The fair values are based on assumptions that market participants would use when pricing an asset or liability, including assumptions about risk and the risks inherent in valuation techniques and the inputs to valuations. The fair value hierarchy is based on whether the inputs to valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s own assumptions of what market participants would use. The fair value hierarchy includes three levels of inputs that may be used to measure fair value as described below:

Level 1: Quoted market prices in active markets for identical assets or liabilities.

Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.

Level 3: Unobservable inputs that are not corroborated by market data.

The classification of a financial asset or liability within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

Cash equivalents - Included within “Cash and cash equivalents” are investments in non-domestic term deposits. The carrying amounts approximate fair value because of the short maturity of the instruments.

LIBOR-based interest rate swaps - To reduce the impact of interest rate changes on outstanding variable-rate debt, the Company entered into forward starting LIBOR-based interest rate swaps with notional values totaling $50,000. The fair value of the interest rate swaps is based on market-observable forward interest rates and represents the estimated amount that the Company would pay to terminate the agreements. As such, the swap agreements are classified as Level 2 within the fair value hierarchy. As of September 30, 2018, the interest rate swaps were recorded within other current assets.


	Fair Value Measurements at Reporting Date														Fair Value Measurements at Reporting Date
	September 30, 2018		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		December 31, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Term deposits	$	17	$	17	$	—	$	—	$	17	$	17	$	—	$	—
Interest rate swaps	1,476		—		1,476		—		222		—		222		—
Total assets	$	1,493	$	17	$	1,476	$	—	$	239	$	17	$	222	$	—

The interest rate swaps are accounted for as cash flow hedges and the objective of the hedges is to offset the expected interest variability on payments associated with the interest rate of our debt. The gains and losses related to the interest rate swaps are reclassified from accumulated other comprehensive loss and included in interest income or expense in our Condensed Consolidated Statements of Operations as the interest expense from our debt is recognized. For the three months ended September 30, 2018 and 2017, interest income from interest rate swaps was $18 and expense of $98, respectively. Interest expense from the interest rate swaps was $16 and $302 for the nine months ended September 30, 2018 and 2017, respectively.

In accordance with the provisions of ASC 820, "Fair Value Measurement," the Company measures certain nonfinancial assets and liabilities at fair value, which are recognized or disclosed on a nonrecurring basis.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Earnings Per Common Share

9 Months Ended

Sep. 30, 2018

Earnings Per Common Share

EARNINGS PER COMMON SHARE

(Share amounts in thousands)

The following table sets forth the computation of basic and diluted earnings per common share for the periods indicated:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
Numerator for basic and diluted earnings per common share:
Net income	$	4,971	$	3,222	$	7,889	$	3,824
Denominator:
Weighted average shares outstanding	10,365		10,341		10,361		10,332
Denominator for basic earnings per common share	10,365		10,341		10,361		10,332
Effect of dilutive securities:
Stock compensation plans	124		138		120		103
Dilutive potential common shares	124		138		120		103
Denominator for diluted earnings per common share - adjusted weighted average shares outstanding	10,489		10,479		10,481		10,435
Basic earnings per common share	$	0.48	$	0.31	$	0.76	$	0.37
Diluted earnings per common share	$	0.47	$	0.31	$	0.75	$	0.37

Stock-Based Compensation

9 Months Ended

Sep. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Stock-based Compensation

STOCK-BASED COMPENSATIONThe Company applies the provisions of ASC 718, “Compensation – Stock Compensation,” to account for the Company’s stock-based compensation. Stock-based compensation cost is measured at the grant date based on the calculated fair value of the

award and is recognized over the employees’ requisite service period. The Company recorded stock compensation expense related to fully-vested stock awards, restricted stock awards, and performance share units of $934 and $503 for the three-month periods ended September 30, 2018 and 2017, respectively, and $2,838 and $1,228 for the nine-month periods ended September 30, 2018 and 2017, respectively. As of September 30, 2018, unrecognized compensation expense for awards that the Company expects to vest approximated $4,647. The Company will recognize this expense over the upcoming 3.6 years through April 2022.

Shares issued as a result of vested stock-based compensation awards generally will be from previously issued shares that have been reacquired by the Company and held as treasury stock or authorized and previously unissued common stock.

Restricted Stock Awards and Performance Share Units

Under the 2006 Omnibus Plan, the Company grants eligible employees restricted stock and performance share units. The forfeitable restricted stock awards granted prior to March 2015 generally time-vest after a four-year period, and those granted subsequent to March 2015 generally time-vest ratably over a three-year period, unless indicated otherwise by the underlying restricted stock agreement. Since May 2018, awards of restricted stock are subject to a minimum one-year vesting period, including those granted to non-employee directors. Prior to May 2018, awards to non-employee directors were made in fully-vested shares. Performance share units are offered annually under separate three-year long-term incentive programs. Performance share units are subject to forfeiture and will be converted into common stock of the Company based upon the Company’s performance relative to performance measures and conversion multiples, as defined in the underlying program. If the Company’s estimate of the number of performance share units expected to vest changes in a subsequent accounting period, cumulative compensation expense could increase or decrease. The change will be recognized in the current period for the vested shares and would change future expense over the remaining vesting period.

Since May 1, 2017, non-employee directors have been permitted to defer receipt of annual stock awards and equity elected to be received in lieu of quarterly cash compensation. If so elected, these deferred stock units will be issued as common stock six months after the separation from their service on the Board of Directors.

During the quarter ended March 31, 2018, the Compensation Committee approved the 2018 Performance Share Unit Program and the Executive Annual Incentive Compensation Plan (consisting of cash and equity components). The Compensation Committee also certified the actual performance achievement of participants in the 2015 Performance Share Unit Program. Actual performance resulted in no payout relative to the 2015 Performance Share Unit Program target performance metrics.

The following table summarizes the restricted stock award, deferred stock units, and performance share units activity for the nine months ended September 30, 2018:


	Restricted Stock	Deferred Stock Units	Performance Share Units	Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2017	186,806	26,860	181,341	$	16.53
Granted	62,320	14,914	65,421	27.05
Vested	(36,876)	—	—	28.07
Adjustment for incentive awards expected to vest	—	—	48,888	27.96
Cancelled and forfeited	(15,425)	—	(11,880)	16.73
Outstanding as of September 30, 2018	196,825	41,774	283,770	$	18.57

Retirement Plans

9 Months Ended

Sep. 30, 2018

Retirement Plans

RETIREMENT PLANS

Retirement Plans

The Company has three retirement plans that cover its hourly and salaried employees in the United States: one defined benefit plan, which is frozen, and two defined contribution plans. Employees are eligible to participate in the appropriate plan based on employment classification. The Company’s contributions to the defined benefit and defined contribution plans are governed by the Employee Retirement Income Security Act of 1974 (“ERISA”) and the Company’s policy and investment guidelines applicable to each respective plan. The Company’s policy is to contribute at least the minimum in accordance with the funding standards of ERISA.

The Company maintains two defined contribution plans for its employees in Canada, as well as one post-retirement benefit plan. The Company also maintains two defined contribution plans and one defined benefit plan for its employees in the United Kingdom.

United States Defined Benefit Plan

Net periodic pension costs for the United States defined benefit pension plan for the three- and nine-month periods ended September 30, 2018 and 2017 were as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017

Interest cost	$	155	$	171	$	466	$	513
Expected return on plan assets	(213)		(178)		(640)		(533)
Recognized net actuarial loss	24		33		72		98
Net periodic pension (income) cost	$	(34)	$	26	$	(102)	$	78

The Company does not expect to contribute to its United States defined benefit pension plan in 2018.

United Kingdom Defined Benefit Plan

Net periodic pension costs for the United Kingdom defined benefit pension plan for the three- and nine-month periods ended September 30, 2018 and 2017 were as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
Interest cost	$	51	$	56	$	153	$	168
Expected return on plan assets	(70)		(67)		(210)		(201)
Amortization of prior service costs and transition amount	5		4		15		12
Recognized net actuarial loss	48		72		144		216
Net periodic pension cost	$	34	$	65	$	102	$	195

United Kingdom regulations require trustees to adopt a prudent approach to funding required contributions to defined benefit pension plans. The Company anticipates contributions of approximately $244 to the United Kingdom Rail Technologies pension plan during 2018. For the nine months ended September 30, 2018, the Company contributed approximately $189 to the plan.

Defined Contribution Plans

The Company sponsors six defined contribution plans for hourly and salaried employees across our domestic and international facilities. The following table summarizes the expense associated with the contributions made to these plans:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
United States	$	766	$	415	$	2,080	$	1,276
Canada	23		53		91		167
United Kingdom	114		93		328		306
	$	903	$	561	$	2,499	$	1,749

Commitments and Contingent Liabilities

9 Months Ended

Sep. 30, 2018

Commitments and Contingent Liabilities

COMMITMENTS AND CONTINGENT LIABILITIES

Product Liability Claims

The Company is subject to product warranty claims that arise in the ordinary course of its business. For certain manufactured products, the Company maintains a product warranty accrual which is adjusted on a monthly basis as a percentage of cost of sales. In addition, the product warranty accrual is periodically adjusted based on the identification or resolution of known individual product warranty claims.

The following table sets forth the Company’s product warranty accrual:


	Warranty Liability
Balance as of December 31, 2017	$	8,682
Additions to warranty liability	1,452
Warranty liability utilized	(771)
Balance as of September 30, 2018	$	9,363

Included within the above table are concrete tie warranty reserves of approximately $7,701 and $7,595 as of September 30, 2018 and December 31, 2017, respectively. During the nine months ended September 30, 2018, the Company incurred a charge of $611 within our Rail Products and Services segment related to a commercial decision to support a customer concern related to a previous project.

Union Pacific Railroad (UPRR) Concrete Tie Matter

On July 12, 2011, UPRR notified (the “UPRR Notice”) the Company and its subsidiary, CXT Incorporated (“CXT”), of a warranty claim under CXT’s 2005 supply contract relating to the sale of pre-stressed concrete railroad ties to UPRR. UPRR asserted that a significant percentage of concrete ties manufactured in 2006 through 2011 at CXT’s Grand Island, NE facility failed to meet contract specifications, had workmanship defects and were cracking and failing prematurely. Of the 3 million ties manufactured between 1998 and 2011 from the Grand Island, NE facility, approximately 1.6 million ties were sold during the period UPRR had claimed nonconformance. The 2005 contract called for each concrete tie which failed to conform to the specifications or had a material defect in workmanship to be replaced with 1.5 new concrete ties, provided, that, within five years of the sale of a concrete tie, UPRR notified CXT of such failure to conform or such defect in workmanship. The UPRR Notice did not specify how many ties manufactured during this period were defective nor the exact nature of the alleged workmanship defect.

Following the UPRR Notice, the Company worked with material scientists and pre-stressed concrete experts to test a representative sample of Grand Island, NE concrete ties and assess warranty claims for certain concrete ties made in its Grand Island, NE facility between 1998 and 2011. The Company discontinued manufacturing operations in Grand Island, NE in early 2011.

2012

During 2012, the Company completed sufficient testing and analysis to further understand this matter. Based upon testing results and expert analysis, the Company believed it discovered conditions, which largely related to the 2006 to 2007 manufacturing period, that can shorten the life of the concrete ties produced during this period. During the fourth quarter of 2012 and first quarter of 2013, the Company reached agreement with UPRR on several matters including a tie rating process for the Company and UPRR to work together to identify, prioritize, and replace defective ties that meet the criteria for replacement. This process applies to the ties the Company shipped to UPRR from its Grand Island, NE facility from 1998 to 2011. During most of this period, the Company’s warranty policy for UPRR carried a 5-year warranty with a 1.5:1 replacement ratio for any defective ties. In order to accommodate UPRR and other customer concerns, the Company also reverted to a previously used warranty policy providing a 15-year warranty with a 1:1 replacement ratio. This change provided an additional 10 years of warranty protection. In the amended 2005 supply agreement, the Company and UPRR also extended the supply of Tucson ties by five years and agreed on a cash payment of $12,000 to UPRR as compensation for concrete ties already replaced by UPRR during the investigation period.

During 2012, as a result of the testing that the Company conducted on concrete ties manufactured at its former Grand Island, NE facility and the developments related to UPRR and other customer matters, the Company recorded pre-tax warranty charges of $22,000 in “Cost of Goods Sold” within its Rail Products and Services segment based on the Company’s estimate of the number of defective concrete ties that will ultimately require replacement during the applicable warranty periods.

2013

Throughout 2013, at UPRR’s request and under the terms of the amended 2005 supply agreement, the Company provided warranty replacement concrete ties for use across certain UPRR subdivisions. The Company attempted to reconcile the quantity of warranty claims for ties replaced and obtain supporting detail for the ties removed. The Company believes that UPRR did not replace concrete ties in accordance with the amended agreement and has not furnished adequate documentation throughout the replacement process in these subdivisions to support its full warranty claim. Based on the information received by the Company to date, the Company believes that a significant number of ties which UPRR replaced in these subdivisions did not meet the criteria to be covered as warranty replacement ties under the amended 2005 supply agreement. The disagreement related to the

2013 warranty replacement activity includes approximately 170,000 ties where the Company provided detailed documentation supporting our position with reason codes that detail why these ties are not eligible for a warranty claim.

In late November 2013, the Company received notice from UPRR asserting a material breach of the amended 2005 supply agreement. UPRR’s notice asserted that the failure to honor its claims for warranty ties in these subdivisions was a material breach. Following receipt of this notice, the Company provided information to UPRR to refute UPRR’s claim of breach and included the reconciliation of warranty claims supported by substantial findings from the Company’s track observation team, all within the 90-day cure period. The Company also proposed further discussions to reach agreement on reconciliation for 2013 replacement activities and future replacement activities and a recommended process that will ensure future replacement activities are done with appropriate documentation and per the terms of the amended 2005 supply agreement.

2014

During the first quarter of 2014, the Company further responded within the 90-day cure period to UPRR’s claim and presented a reconciliation for the subdivisions at issue. This proposed reconciliation was based on empirical data and visual observation from Company employees that were present during the replacement process for a substantial majority of the concrete ties replaced. The Company spent considerable time documenting facts related to concrete tie condition and track condition to assess whether the ties replaced met the criteria to be eligible for replacement under the terms of the amended 2005 supply agreement.

During 2014, the Company increased its accrual by an additional $8,766 based on revised estimates of ties to be replaced based upon scientific testing and other analysis, adjusted for ties already provided to UPRR. The Company continued to work with UPRR to identify, replace, and reconcile defective ties related to the warranty claim in accordance with the amended 2005 supply agreement. The Company and UPRR met during the third quarter of 2014 to evaluate each other’s position in an effort to work towards agreement on the unreconciled 2013 and 2014 replacement activity as well as the standards and practices to be implemented for future replacement activity and warranty tie replacement.

In November and December of 2014, the Company received additional notices from UPRR asserting that ties manufactured in 2000 were defective and again asserting material breaches of the amended 2005 supply agreement relating to warranty tie replacements as well as certain new ties provided to UPRR being out of specification.

At December 31, 2014, the Company and UPRR had not been able to reconcile the disagreement related to the 2013 and 2014 warranty replacement activity. The disagreement relating to the 2014 warranty replacement activity includes approximately 90,100 ties that the Company believes are not warranty-eligible.

2015

On January 23, 2015, UPRR filed a Complaint and Demand for Jury Trial in the District Court for Douglas County, NE (“Complaint”) against the Company and its subsidiary, CXT, asserting, among other matters, that the Company breached its express warranty, breached an implied covenant of good faith and fair dealing, and anticipatorily repudiated its warranty obligations, and that UPRR’s exclusive and limited remedy provisions in the supply agreement have failed of their essential purpose which entitles UPRR to recover all incidental and consequential damages. The Complaint seeks to cancel all duties of UPRR under the contract, to adjudge the Company as having no remaining rights under the contracts, and to recover damages in an amount to be determined at trial for the value of unfulfilled warranty replacement ties and ties likely to become warranty eligible, for costs of cover for replacement ties, and for various incidental and consequential damages. The amended 2005 supply agreement provides that UPRR’s exclusive remedy is to receive a replacement tie that meets the contract specifications for each tie that failed to meet the contract specifications or otherwise contained a material defect provided that the Company receives written notice of such failure or defect within 15 years after that tie was produced. The amended 2005 supply agreement provides that the Company’s warranty does not apply to ties that (a) have been repaired or altered without the Company’s written consent in such a way as to affect the stability or reliability thereof, (b) have been subject to misuse, negligence, or accident, or (c) have been improperly maintained or used contrary to the specifications for which such ties were produced. The amended 2005 supply agreement also continues to provide that the Company’s warranty is in lieu of all other express or implied warranties and that neither party shall be subject to or liable for any incidental or consequential damages to the other party. The dispute is largely based on (1) claims submitted that the Company believes are for ties claimed for warranty replacement that are inaccurately rated under concrete tie rating guidelines and procedures agreed to in 2012 and incorporated by amendment to the 2005 supply agreement rated and are not the responsibility of the Company and claims that do not meet the criteria of a warranty replacement and (2) UPRR’s assertion, which the Company vigorously disputes, that UPRR in future years will be entitled to warranty replacement ties for virtually all of the Grand Island ties. Many thousands of Grand Island ties have been performing in track for over ten years. In addition, a significant amount of Grand Island ties were rated by both parties in the excellent category of the rating system.

In June 2015, UPRR delivered an additional notice alleging deficiencies in certain ties produced in the Company’s Tucson and Spokane locations and other claimed material breaches which the Company contends are unfounded. The Company again responded to UPRR that it was not in material breach of the amended 2005 supply agreement relating to warranty tie replacements and that the ties in question complied with the specifications provided by UPRR.

On June 16 and 17, 2015, UPRR issued a formal notice of the termination of the concrete tie supply agreement as well as the termination of the lease agreement at the Tucson, AZ production facility and rejection and revocation of its prior acceptance of certain ties manufactured at the Company’s Spokane, WA production facility. Since that time, UPRR has discontinued submitting purchase orders to the Company for shipment of warranty replacement ties.

On May 29, 2015, the Company and CXT filed an Answer, Affirmative Defenses and Counterclaims in response to the Complaint, denying liability to UPRR. As a result of UPRR’s subsequent June 16-17, 2015 actions and certain related conduct, the Company on October 5, 2015 amended the pending Answer, Affirmative Defenses and Counterclaims to add, among other things, assertions that UPRR’s conduct in question was wrongful and unjustified and constituted additional grounds for the affirmative defenses to UPRR’s claims and also for the Company’s counterclaims.

2016

By Scheduling Order dated June 29, 2016, an August 31, 2017 deadline for the completion of fact discovery was established with trial to proceed at some future date after October 30, 2017, and UPRR filed an amended notice of trial to commence on October 30, 2017.

2017

By Third Amended Scheduling Order dated September 26, 2017, a June 29, 2018 deadline for completion of discovery has been established with trial to proceed at some future date on or after October 1, 2018. Throughout 2017, the parties continued to conduct discovery, with various disputes that required and will likely require court resolution.

2018

By Fourth Amended Scheduling Order dated March 21, 2018, certain interim pretrial deadlines for the close of discovery and various submittals were changed but the October 1, 2018 trial date set forth in UPRR's Second Amended Notice of Trial under the prior Third Amended Scheduling Order remained in place. By Order dated August 20, 2018, the Fourth Amended Scheduling Order was amended to reschedule the trial date from October 1, 2018 to April 29, 2019, establish a January 21, 2019 deadline for the completion of fact discovery, and change the other interim pretrial deadlines. During the first six months ended June 30, 2018, the Company continued fact discovery and prepared and exchanged expert reports. During the second and third quarters, the Company engaged and intends to continue to engage in both trial preparation efforts and also discussions and efforts with UPRR to resolve the matter. However, we cannot predict that such discussions will be successful, or that the results of the litigation with UPRR, or any settlement or judgment amounts, will reasonably approximate our estimated accruals for loss contingencies. Future potential costs pertaining to UPRR’s claims and the outcome of the UPRR litigation could result in a material adverse effect on our results of operations, financial condition, and cash flows.

As a result of the pretrial status of the litigation and the unresolved nature of the parties' fact and legal disputes and the uncertainty of any potential judgment, an estimate of any additional loss, or a range of additional loss, associated with this litigation cannot be made based upon currently available information.

Environmental and Legal Proceedings

The Company is subject to national, state, foreign, provincial, and/or local laws and regulations relating to the protection of the environment. The Company’s efforts to comply with environmental regulations may have an adverse effect on its future earnings. On June 5, 2017, a General Notice Letter was received from the United States Environmental Protection Agency (“EPA”) indicating that the Company may be a potentially responsible party regarding the Portland Harbor Superfund Site cleanup along with numerous other companies. By letter dated March 16, 2018, the EPA informed the Company of the proposed schedule for consent decree negotiations to implement the Portland Harbor Superfund Site Record of Decision, with negotiations scheduled to commence by the end of 2019. The Company is reviewing the basis for its identification by the EPA and the nature of the historic operations of an L.B. Foster predecessor on the site. Management does not believe that compliance with the present environmental protection laws will have a material adverse effect on the financial condition, results of operations, cash flows, competitive position, or capital expenditures of the Company.

As of September 30, 2018 and December 31, 2017, the Company maintained environmental reserves approximating $6,137 and $6,144, respectively. The following table sets forth the Company’s environmental obligation:


	Environmental liability
Balance as of December 31, 2017	$	6,144
Additions to environmental obligations	53
Environmental obligations utilized	(60)
Balance as of September 30, 2018	$	6,137

The Company is also subject to other legal proceedings and claims that arise in the ordinary course of its business. Legal actions are subject to inherent uncertainties, and future events could change management's assessment of the probability or estimated amount of potential losses from pending or threatened legal actions. Based on available information, it is the opinion of management that the ultimate resolution of pending or threatened legal actions, both individually and in the aggregate, will not result in losses having a material adverse effect on the Company's financial position or liquidity as of September 30, 2018.

If management believes that, based on available information, it is at least reasonably possible that a material loss (or additional material loss in excess of any accrual) will be incurred in connection with any legal actions, the Company discloses an estimate of the possible loss or range of loss, either individually or in the aggregate, as appropriate, if such an estimate can be made, or discloses that an estimate cannot be made. Based on the Company's assessment as of September 30, 2018, no such disclosures were considered necessary.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES For the three months ended September 30, 2018 and 2017, the Company recorded an income tax benefit of $246 and $208 on pre-tax income of $4,725 and $3,014 for an effective income tax rate of (5.2)% and (6.9)%, respectively. For the nine months ended September 30, 2018 and 2017, the Company recorded an income tax expense of $952 and $698 on pre-tax income of $8,841 and $4,522 for an effective income tax rate of 10.8% and 15.4%, respectively. The Company's tax provision for the three and nine months ended September 30, 2018 is primarily comprised of taxes on our Canadian and United Kingdom operations. However, as a result of the U.S. consolidated group's current year income, the Company's estimated annual effective tax rate was adjusted during the third quarter to include the realization of a portion of its U.S. deferred tax assets previously offset by a valuation allowance. The Company continued to maintain a full valuation allowance against its U.S. deferred tax assets, which is likely to result in significant variability of the effective tax rate in the current year. Changes in pre-tax income projections and the mix of income across jurisdictions could also impact the effective income tax rate. The Tax Act was enacted on December 22, 2017. The Tax Act reduced the U.S. federal corporate tax rate from 35% to 21%, required companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred, and created new taxes on certain foreign sourced earnings. Due to the complexities involved in accounting for the enactment of the Tax Act, SEC Staff Accounting Bulletin No. 118 (“SAB No. 118”) allowed the Company to record provisional amounts in earnings for the year ended December 31, 2017. The Company has not completed its accounting for the tax effects of the enactment of the Tax Act; however, as described below, the Company made reasonable estimates of the effects of the Tax Act on existing deferred tax balances and the one-time transition tax. In 2017, the Company recognized a $1,508 provisional tax benefit related to the remeasurement of certain deferred tax assets and liabilities, as well as a $3,298 provisional tax expense related to the one-time transition tax on mandatory deemed repatriation of foreign earnings, and related items. During the nine-month period ended September 30, 2018, there were no changes made to the provisional amounts recognized in 2017. The Company will continue to analyze the effects of the Tax Act on its Condensed Consolidated Financial Statements. Additional impacts from the enactment of the Tax Act will be recorded as they are identified during the measurement period provided for in SAB No. 118, which extends up to one year from the enactment date. The final impact of the Tax Act may differ from the provisional amounts that have been recognized, possibly materially, due to, among other things, changes in the Company’s interpretation of the Tax Act, legislative or administrative actions to clarify the intent of the statutory language provided that differ from the Company’s current interpretation, any changes in accounting standards for income taxes or related interpretations in response to the Tax Act, or any updates or changes to estimates utilized to calculate the impacts. The Company also continues to evaluate the impact of the global intangible low-taxed income (“GILTI”) provisions of the Tax Act, which are complex and subject to continuing regulatory interpretation. The Company has not yet completed its assessment to make an accounting policy election to either recognize deferred taxes for basis differences expected to reverse as GILTI or to record GILTI as period costs if and when incurred. Adjustments related to the amount of GILTI tax recorded in its consolidated financial statements may be required based on the outcome of this election.

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTSThe Company has evaluated subsequent events through the date these financial statements were issued and concluded that no subsequent events have occurred that would require recognition in the Condensed Consolidated Financial Statements or disclosure in the Notes to Condensed Consolidated Financial Statements.

Financial Statements (Policies)	9 Months Ended
Financial Statements (Policies)	Sep. 30, 2018
Quarterly Financial Data [Abstract]
Basis of presentation	Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all estimates and adjustments (consisting of normal recurring accruals, unless otherwise stated herein) considered necessary for a fair presentation of the financial position of L.B. Foster Company and subsidiaries as of September 30, 2018 and December 31, 2017, its condensed consolidated statements of operations for the three and nine months ended September 30, 2018 and 2017, and its statements of cash flows for the nine months ended September 30, 2018 and 2017, have been included. However, actual results could differ from those estimates. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. The Condensed Consolidated Balance Sheet as of December 31, 2017 was derived from audited financial statements. This Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017. In this Quarterly Report on Form 10-Q, references to “we,” “us,” “our,” and the “Company” refer collectively to L.B. Foster Company and its consolidated subsidiaries.
Recently issued accounting standards	Recently Issued Accounting Standards In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). The new accounting requirements include the accounting for, presentation of, and classification of leases. The guidance will result in most leases being capitalized as a right-of-use asset with a related balance sheet liability. The requirements of the new standard are effective for annual reporting periods beginning after December 15, 2018, and interim periods within those annual periods. The Company is in the process of analyzing the impact of ASU 2016-02 on our financial position. The Company has a significant number of operating leases, and, as a result, expects this guidance to have a material impact on its Condensed Consolidated Balance Sheet. The change will not affect the covenants of the Amended and Restated Credit Agreement dated March 13, 2015 and as amended by the Second Amendment dated November 7, 2016 as defined in Note 9. Long-Term Debt of the Notes to Condensed Consolidated Financial Statements contained in this Quarterly Report on Form 10-Q. The Company has gathered the agreements covered by ASU 2016-02 and will continue to evaluate the impact that ASU 2016-02 will have on its financial statements, related disclosures, and internal controls. Regular updates are provided to the Audit Committee regarding the progress and milestones of the adoption. The Company does not anticipate early adoption of ASU 2016-02. In February 2018, the FASB issued ASU 2018-02, “Income Statement – Reporting Comprehensive Income” (“ASU 2018-02”), that will permit companies the option to reclassify stranded tax effects caused by the newly-enacted US Tax Cuts and Jobs Act (the “Tax Act”) from accumulated other comprehensive income to retained earnings. Consequently, the amendments eliminate the stranded tax effects resulting from the Tax Act and will improve the usefulness of information reported to financial statement users. However, because the amendments only relate to the reclassification of the income tax effects of the Tax Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. Adoption of the ASU will be optional and a company will need to disclose if it elects not to adopt the ASU. The ASU will be effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption will be permitted, including adoption in any interim period, for financial statements that have not yet been issued or made available for issuance. Entities will have the option to apply the amendments retrospectively or to record the reclassification as of the beginning of the period of adoption. The Company is evaluating the impact of ASU 2018-02 on its financial position and whether or not it will choose to adopt the ASU. The SEC Disclosure Update and Simplification release (“DUSTR”) adopted certain amendments in August 2018. While most of the amendments eliminate outdated or duplicative disclosure requirements, the final rule amends the interim financial statement requirements to require a reconciliation of changes in stockholders’ equity in the notes to the financial statements or as a separate statement. This analysis should reconcile the beginning balance to the ending balance of each caption in stockholders’ equity for each period for which an income statement is required to be filed and comply with the remaining content requirements of Rule 3-04 of Regulation S-X. As a result, registrants will be required to provide the reconciliation for both the comparable quarterly and year-to-date periods in its Quarterly Report on Form 10-Q but only for the year-to-date periods in registration statements, beginning in the first quarter of 2019. Recently Adopted Accounting Standards In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”), which supersedes the revenue recognition requirements in Accounting Standards Codification (“ASC”) 605, “Revenue Recognition” (“ASC 605”). ASU 2014-09 is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. It also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue, cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for fiscal years beginning after December 15, 2017, including interim periods within that reporting period. The Company adopted the provisions of ASU 2014-09 on January 1, 2018, using the modified retrospective approach. Revenue from the Company's product and service sales continue to be recognized when products are shipped or services are rendered. Revenue from the Company's product and service sales provided under long-term agreements is recognized as the Company transfers control of the product or renders service to its customers, which approximates the previously used percentage-of-completion method of accounting. The adoption of ASU 2014-09 had no material effect on the Company's financial position, results of operations, cash flows, or backlog, and no adjustment to January 1, 2018 opening retained earnings was needed. The Company has presented the disclosures required by ASC 606, “Revenue from Contracts with Customers” (“ASC 606”) in Note 3. Revenue of the Notes to Condensed Consolidated Financial Statements contained in this Quarterly Report on Form 10-Q. In October 2016, the FASB issued ASU 2016-16, “Income Taxes – Intra-Entity Transfers of Assets Other Than Inventory (Topic 740),” (“ASU 2016-16”) which requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. The ASU was effective on January 1, 2018 and was adopted by the Company on that date, using the modified retrospective approach. Under this approach, the Company recorded a reduction to its January 1, 2018 opening retained earnings of $305 as a result of prior intra-entity transactions. In March 2018, the FASB issued ASU 2018-05, “Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118,” which allowed SEC registrants to record provisional amounts in earnings for the year ended December 31, 2017 due to the complexities involved in accounting for the enactment of the Tax Act enacted on December 22, 2017. The Company recognized estimated income tax effects of the Tax Act in its 2017 Consolidated Financial Statements in accordance with SEC Staff Accounting Bulletin No. 118 (“SAB No. 118”). Refer to Note 15. Income Taxes of the Notes to Condensed Consolidated Financial Statements contained in this Quarterly Report on Form 10-Q for further information regarding the provisional amounts recorded by the Company as of December 31, 2017 through September 30, 2018. In March 2017, the FASB issued ASU 2017-07, “Compensation - Retirement Benefits (Topic 715)” (“ASU 2017-07”), which improves the presentation of net periodic pension cost and net periodic postretirement benefit cost. The guidance requires that the entity report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period, and report the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement separately from the service cost component and not within income from operations. Of the components of net periodic benefit cost, only the service cost component will be eligible for asset capitalization. The new standard is effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods. The adoption of ASU 2017-07 had no impact to the Company.
Reclassifications and Disclosures	Reclassifications and Disclosures Certain amounts in previously issued financial statements have been reclassified to conform to the current period presentation. These reclassifications represent the change in allocated corporate expenses as disclosed in Note 2. Business Segments and the adoption of ASC 606 disclosed in Note 3. Revenue, Note 5. Accounts Receivable, and Note 6. Inventories of the Notes to Condensed Consolidated Financial Statements contained in this Quarterly Report on Form 10-Q.
Inventory	Inventory is generally valued at the lower of last-in, first-out (“LIFO”) cost or market. Other inventories of the Company are valued at average cost or net realizable value, whichever is lower. An actual valuation of inventory under the LIFO method is made at the end of each year based on the inventory levels and costs at that time. Interim LIFO calculations are based on management’s estimates of expected year-end levels and costs. Prior to the adoption of ASU 2014-09, contract assets were classified within work-in-process inventory.
Share based compensation	The Company applies the provisions of ASC 718, “Compensation – Stock Compensation,” to account for the Company’s stock-based compensation. Stock-based compensation cost is measured at the grant date based on the calculated fair value of the award and is recognized over the employees’ requisite service period

Business Segments (Tables)

9 Months Ended

Sep. 30, 2018

Reconciliation of Revenue from Segments to Consolidated

The following table illustrates the Company's revenues and profit from operations by segment for the periods indicated:


	Three Months Ended September 30, 2018						Three Months Ended September 30, 2017
	Net Sales		Segment Profit		Net Sales		Segment Profit
Rail Products and Services	$	84,517	$	5,299	$	62,095	$	3,179
Construction Products	41,534		1,603		39,118		3,846
Tubular and Energy Services	41,043		4,274		30,279		2,093
Total	$	167,094	$	11,176	$	131,492	$	9,118

	Nine Months Ended September 30, 2018						Nine Months Ended September 30, 2017
	Net Sales		Segment Profit		Net Sales		Segment Profit
Rail Products and Services	$	238,571	$	12,655	$	187,922	$	7,581
Construction Products	112,641		4,478		121,905		10,617
Tubular and Energy Services	111,226		10,704		85,227		1,287
Total	$	462,438	$	27,837	$	395,054	$	19,485

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table provides a reconciliation of segment net profit from operations to the Company’s consolidated total:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
Profit for reportable segments	$	11,176	$	9,118	$	27,837	$	19,485
Interest expense	(1,367)		(2,026)		(4,979)		(6,315)
Interest income	71		56		166		166
Other (expense) income	(153)		551		327		564
LIFO expense	(1,701)		(1,552)		(2,414)		(1,733)
Equity in (loss) income of nonconsolidated investments	(4)		50		(7)		(5)
Unallocated corporate expenses and other unallocated charges	(3,297)		(3,183)		(12,089)		(7,640)
Income before income taxes	$	4,725	$	3,014	$	8,841	$	4,522

Reconciliation of Assets from Segment to Consolidated

The following table illustrates assets of the Company by segment:


	September 30, 2018		December 31, 2017
Rail Products and Services	$	171,183	$	192,038
Construction Products	92,996		83,154
Tubular and Energy Services	90,984		100,706
Unallocated corporate assets	15,383		20,658
Total	$	370,546	$	396,556

Revenue (Tables)

9 Months Ended

Sep. 30, 2018

Disaggregation of Revenue

The following table summarizes the Company's net sales by major product and service category:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
Rail Products	$	49,234	$	36,297	$	139,600	$	115,061
Rail Technologies	35,283		25,798		98,971		72,861
Rail Products and Services	84,517		62,095		238,571		187,922
Piling and Fabricated Bridge	26,798		24,186		71,505		83,016
Precast Concrete Products	14,736		14,932		41,136		38,889
Construction Products	41,534		39,118		112,641		121,905
Test, Inspection, and Threading	15,296		13,729		44,517		37,661
Protective Coatings and Measurement Solutions	25,747		16,550		66,709		47,566
Tubular and Energy Services	41,043		30,279		111,226		85,227
Total net sales	$	167,094	$	131,492	$	462,438	$	395,054

Net sales by the timing of the transfer of goods and services is as follows:


Three Months Ended September 30, 2018	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	61,426	$	27,459	$	33,474	$	122,359
Over time	23,091		14,075		7,569		44,735
Total net sales	$	84,517	$	41,534	$	41,043	$	167,094

Three Months Ended September 30, 2017	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	51,043	$	22,768	$	26,138	$	99,949
Over time	11,052		16,350		4,141		31,543
Total net sales	$	62,095	$	39,118	$	30,279	$	131,492


Nine Months Ended September 30, 2018	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	176,592	$	74,581	$	94,832	$	346,005
Over time	61,979		38,060		16,394		116,433
Total net sales	$	238,571	$	112,641	$	111,226	$	462,438

Nine Months Ended September 30, 2017	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	153,707	$	76,158	$	73,189	$	303,054
Over time	34,215		45,747		12,038		92,000
Total net sales	$	187,922	$	121,905	$	85,227	$	395,054

Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table presents the goodwill balance by reportable segment:


	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Balance as of December 31, 2017	$	14,638	$	5,147	$	—	$	19,785
Foreign currency translation impact	(336)		—		—		(336)
Balance as of September 30, 2018	$	14,302	$	5,147	$	—	$	19,449

Schedule of Finite-Lived Intangible Assets

The following table represents the gross balances of other intangible asset by reportable segment:


	September 30, 2018		December 31, 2017
Rail Products and Services*	$	57,151	$	57,654
Construction Products	1,348		1,348
Tubular and Energy Services	29,179		29,179
	$	87,678	$	88,181

* Gross balances include the impact of foreign currency translation adjustments.

Schedule of Intangible Assets

The components of the Company’s intangible assets were as follows:


	September 30, 2018
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	5	$	4,215	$	(3,757)	$	458
Patents	10	379		(172)		207
Customer relationships	18	37,333		(10,869)		26,464
Trademarks and trade names	14	10,057		(4,710)		5,347
Technology	14	35,694		(16,369)		19,325
		$	87,678	$	(35,877)	$	51,801

	December 31, 2017
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	5	$	4,238	$	(3,100)	$	1,138
Patents	10	389		(164)		225
Customer relationships	17	37,679		(9,171)		28,508
Trademarks and trade names	14	10,085		(4,091)		5,994
Technology	14	35,790		(14,215)		21,575
		$	88,181	$	(30,741)	$	57,440

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

As of September 30, 2018, estimated amortization expense for the remainder of 2018 and thereafter was as follows:


	Amortization Expense
Remainder of 2018	$	1,667
2019	6,262
2020	5,942
2021	5,923
2022	5,881
2023 and thereafter	26,126
	$	51,801

Inventories (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Inventory

Inventories as of September 30, 2018 and December 31, 2017 are summarized in the following table:


	September 30, 2018		December 31, 2017
Finished goods	$	55,988	$	55,846
Contract assets	27,796		25,320
Work-in-process	8,364		4,059
Raw materials	22,653		17,505
Total inventories at current costs	114,801		102,730
Less LIFO reserve	(7,601)		(5,187)
	$	107,200	$	97,543

Property, Plant and Equipment (Tables)

9 Months Ended

Sep. 30, 2018

Property, plant, and equipment as of September 30, 2018 and December 31, 2017 consisted of the following:


	September 30, 2018		December 31, 2017
Land	$	12,535	$	14,869
Improvements to land and leaseholds	17,482		17,415
Buildings	34,860		34,929
Machinery and equipment, including equipment under capitalized leases	120,671		120,806
Construction in progress	2,724		1,057
	188,272		189,076
Less accumulated depreciation and amortization, including accumulated amortization of capitalized leases	(100,378)		(92,980)
	$	87,894	$	96,096

Investments (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Variable Interest Entities

The carrying amounts with the Company’s maximum exposure to loss as of September 30, 2018 and December 31, 2017, respectively, were as follows:


	September 30, 2018		December 31, 2017
L B Pipe JV investment	$	—	$	3,875
Revolving line of credit	—		1,235
Net investment in direct financing lease	602		735
	$	602	$	5,845

Schedule of Direct Financing Future Minimum Lease Payments for Capital Leases

The following is a schedule as of September 30, 2018 of the direct financing minimum lease payments for the remainder of 2018 and the year 2019:


	Minimum Lease Payments
Remainder of 2018	$	35
2019	567

	$	602

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Long-term Debt Instruments

Long-term debt consisted of the following:


	September 30, 2018		December 31, 2017
Revolving credit facility	$	75,401	$	128,470

Capital leases and financing agreements	1,069		1,496
Total	76,470		129,966
Less current maturities	(630)		(656)
Long-term portion	$	75,840	$	129,310

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 942
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-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Section 55
-Paragraph 8
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 8
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 505
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 835
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-Paragraph 1A
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis


	Fair Value Measurements at Reporting Date														Fair Value Measurements at Reporting Date
	September 30, 2018		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		December 31, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Term deposits	$	17	$	17	$	—	$	—	$	17	$	17	$	—	$	—
Interest rate swaps	1,476		—		1,476		—		222		—		222		—
Total assets	$	1,493	$	17	$	1,476	$	—	$	239	$	17	$	222	$	—

Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Earnings Per Share, Basic and Diluted

(Share amounts in thousands)

The following table sets forth the computation of basic and diluted earnings per common share for the periods indicated:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
Numerator for basic and diluted earnings per common share:
Net income	$	4,971	$	3,222	$	7,889	$	3,824
Denominator:
Weighted average shares outstanding	10,365		10,341		10,361		10,332
Denominator for basic earnings per common share	10,365		10,341		10,361		10,332
Effect of dilutive securities:
Stock compensation plans	124		138		120		103
Dilutive potential common shares	124		138		120		103
Denominator for diluted earnings per common share - adjusted weighted average shares outstanding	10,489		10,479		10,481		10,435
Basic earnings per common share	$	0.48	$	0.31	$	0.76	$	0.37
Diluted earnings per common share	$	0.47	$	0.31	$	0.75	$	0.37

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Nonvested Share Activity

The following table summarizes the restricted stock award, deferred stock units, and performance share units activity for the nine months ended September 30, 2018:


	Restricted Stock	Deferred Stock Units	Performance Share Units	Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2017	186,806	26,860	181,341	$	16.53
Granted	62,320	14,914	65,421	27.05
Vested	(36,876)	—	—	28.07
Adjustment for incentive awards expected to vest	—	—	48,888	27.96
Cancelled and forfeited	(15,425)	—	(11,880)	16.73
Outstanding as of September 30, 2018	196,825	41,774	283,770	$	18.57

Retirement Plans (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Costs of Retirement Plans

The following table summarizes the expense associated with the contributions made to these plans:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
United States	$	766	$	415	$	2,080	$	1,276
Canada	23		53		91		167
United Kingdom	114		93		328		306
	$	903	$	561	$	2,499	$	1,749

Pension Plan | United States

Pension Plan | United Kingdom

Net periodic pension costs for the United States defined benefit pension plan for the three- and nine-month periods ended September 30, 2018 and 2017 were as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017

Interest cost	$	155	$	171	$	466	$	513
Expected return on plan assets	(213)		(178)		(640)		(533)
Recognized net actuarial loss	24		33		72		98
Net periodic pension (income) cost	$	(34)	$	26	$	(102)	$	78

Commitments and Contingencies Disclosure [Abstract]

Net periodic pension costs for the United Kingdom defined benefit pension plan for the three- and nine-month periods ended September 30, 2018 and 2017 were as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
Interest cost	$	51	$	56	$	153	$	168
Expected return on plan assets	(70)		(67)		(210)		(201)
Amortization of prior service costs and transition amount	5		4		15		12
Recognized net actuarial loss	48		72		144		216
Net periodic pension cost	$	34	$	65	$	102	$	195

Commitments and Contingent Liabilities (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Product Warranty Liability

The following table sets forth the Company’s product warranty accrual:


	Warranty Liability
Balance as of December 31, 2017	$	8,682
Additions to warranty liability	1,452
Warranty liability utilized	(771)
Balance as of September 30, 2018	$	9,363

Environmental Loss Contingencies

The following table sets forth the Company’s environmental obligation:


	Environmental liability
Balance as of December 31, 2017	$	6,144
Additions to environmental obligations	53
Environmental obligations utilized	(60)
Balance as of September 30, 2018	$	6,137

Financial Statements (Narratives) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Reduction to retained earnings	$ (145,364)	$ (137,780)
Adjustments \| ASU2016-16
Reduction to retained earnings		$ 305

Business Segments (Reconciliation of Revenue from Segments to Consolidated) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting Information
Net Sales	$ 167,094	$ 131,492	$ 462,438	$ 395,054
Segment Profit (Loss)	11,176	9,118	27,837	19,485
Rail Products and Services
Segment Reporting Information
Net Sales	84,517	62,095	238,571	187,922
Segment Profit (Loss)	5,299	3,179	12,655	7,581
Construction Products
Segment Reporting Information
Net Sales	41,534	39,118	112,641	121,905
Segment Profit (Loss)	1,603	3,846	4,478	10,617
Tubular and Energy Services
Segment Reporting Information
Net Sales	41,043	30,279	111,226	85,227
Segment Profit (Loss)	$ 4,274	$ 2,093	$ 10,704	$ 1,287

Business Segments (Reconciliation of Operating Profit (Loss) from Segments to Consolidated) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting [Abstract]
Profit for reportable segments	$ 11,176	$ 9,118	$ 27,837	$ 19,485
Interest expense	(1,367)	(2,026)	(4,979)	(6,315)
Interest income	71	56	166	166
Other (expense) income	(153)	551	327	564
LIFO expense	(1,701)	(1,552)	(2,414)	(1,733)
Equity in (loss) income of nonconsolidated investments	(4)	50	(7)	(5)
Unallocated corporate expense and other unallocated charges	(3,297)	(3,183)	(12,089)	(7,640)
Income before income taxes	$ 4,725	$ 3,014	$ 8,841	$ 4,522

Business Segments (Reconciliation of Assets from Segment to Consolidated) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Segment Reporting Information
Assets	$ 370,546	$ 396,556
Operating Segments \| Rail Products and Services
Segment Reporting Information
Assets	171,183	192,038
Operating Segments \| Construction Products
Segment Reporting Information
Assets	92,996	83,154
Operating Segments \| Tubular and Energy Services
Segment Reporting Information
Assets	90,984	100,706
Unallocated corporate assets
Segment Reporting Information
Assets	$ 15,383	$ 20,658

Business Segments - Narratives (Details)	Dec. 31, 2017
Segment Reporting [Abstract]
Monthly allocation of corporate expenses	1.00%

Revenue (Narratives) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Revenue (Narratives) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Revenue remaining performance obligation	$ 251,617		$ 251,617
Disaggregation of Revenue
Revenue from contract with customer including assessed tax	167,094	$ 131,492	462,438	$ 395,054
Contract with customer, assets	27,796		27,796		$ 25,320
Contract with customer, liability	$ 2,423		2,423		$ 1,420
Contract assets transferred to receivables			14,528
Revenue recognized from contract liability			1,146
Cash proceeds from liability contract			$ 1,754
Over time
Disaggregation of Revenue
Customer revenue transferred over-time (percentage)	26.80%	24.00%	25.20%	23.30%
Revenue from contract with customer including assessed tax	$ 44,735	$ 31,543	$ 116,433	$ 92,000
Over time \| Performance Based
Disaggregation of Revenue
Revenue from contract with customer including assessed tax	33,225	20,447	87,369	61,892
Over time \| Delivery Based
Disaggregation of Revenue
Revenue from contract with customer including assessed tax	$ 11,510	$ 11,096	$ 29,064	$ 30,108
Point in time
Disaggregation of Revenue
Customer revenue transferred over-time (percentage)	73.20%	76.00%	74.80%	76.70%
Revenue from contract with customer including assessed tax	$ 122,359	$ 99,949	$ 346,005	$ 303,054
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Revenue remaining performance obligation (percentage)	10.00%		10.00%
Performance obligations expected to be satisfied, expected timing			1 year

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Revenue (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue
Total net sales	$ 167,094	$ 131,492	$ 462,438	$ 395,054
Rail Products and Services
Disaggregation of Revenue
Total net sales	84,517	62,095	238,571	187,922
Rail Products and Services \| Rail Products
Disaggregation of Revenue
Total net sales	49,234	36,297	139,600	115,061
Rail Products and Services \| Rail Technologies
Disaggregation of Revenue
Total net sales	35,283	25,798	98,971	72,861
Construction Products
Disaggregation of Revenue
Total net sales	41,534	39,118	112,641	121,905
Construction Products \| Piling and Fabricated Bridge
Disaggregation of Revenue
Total net sales	26,798	24,186	71,505	83,016
Construction Products \| Precast Concrete Products
Disaggregation of Revenue
Total net sales	14,736	14,932	41,136	38,889
Tubular and Energy Services
Disaggregation of Revenue
Total net sales	41,043	30,279	111,226	85,227
Tubular and Energy Services \| Test Inspection and Threading
Disaggregation of Revenue
Total net sales	15,296	13,729	44,517	37,661
Tubular and Energy Services \| Protective Coating and Measurements Solutions
Disaggregation of Revenue
Total net sales	$ 25,747	$ 16,550	$ 66,709	$ 47,566

Revenue (Timing of Transfer) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue
Total net sales	$ 167,094	$ 131,492	$ 462,438	$ 395,054
Point in time
Disaggregation of Revenue
Total net sales	122,359	99,949	346,005	303,054
Over time
Disaggregation of Revenue
Total net sales	44,735	31,543	116,433	92,000
Rail Products and Services
Disaggregation of Revenue
Total net sales	84,517	62,095	238,571	187,922
Rail Products and Services \| Point in time
Disaggregation of Revenue
Total net sales	61,426	51,043	176,592	153,707
Rail Products and Services \| Over time
Disaggregation of Revenue
Total net sales	23,091	11,052	61,979	34,215
Construction Products
Disaggregation of Revenue
Total net sales	41,534	39,118	112,641	121,905
Construction Products \| Point in time
Disaggregation of Revenue
Total net sales	27,459	22,768	74,581	76,158
Construction Products \| Over time
Disaggregation of Revenue
Total net sales	14,075	16,350	38,060	45,747
Tubular and Energy Services
Disaggregation of Revenue
Total net sales	41,043	30,279	111,226	85,227
Tubular and Energy Services \| Point in time
Disaggregation of Revenue
Total net sales	33,474	26,138	94,832	73,189
Tubular and Energy Services \| Over time
Disaggregation of Revenue
Total net sales	$ 7,569	$ 4,141	$ 16,394	$ 12,038

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Amortization expense	$ 1,762	$ 1,764	$ 5,322	$ 5,218
Minimum
Finite lived intangible asset, useful life			4 years
Maximum
Finite lived intangible asset, useful life			25 years
Weighted Average
Finite lived intangible asset, useful life			15 years

Goodwill and Other Intangible Assets (Schedule of Goodwill) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2018 USD ($)
Goodwill
Goodwill, beginning balance	$ 19,785
Foreign currency translation impact	(336)
Goodwill, ending balance	19,449
Rail Products and Services
Goodwill
Goodwill, beginning balance	14,638
Foreign currency translation impact	(336)
Goodwill, ending balance	14,302
Construction Products
Goodwill
Goodwill, beginning balance	5,147
Foreign currency translation impact	0
Goodwill, ending balance	5,147
Tubular and Energy Services
Goodwill
Goodwill, beginning balance	0
Foreign currency translation impact	0
Goodwill, ending balance	$ 0

Goodwill and Other Intangible Assets (Schedule of Gross Other Intangible Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Gross intangible assets balance by reportable segment	$ 87,678	$ 88,181
Rail Products and Services
Gross intangible assets balance by reportable segment	57,151	57,654
Construction Products
Gross intangible assets balance by reportable segment	1,348	1,348
Tubular and Energy Services
Gross intangible assets balance by reportable segment	$ 29,179	$ 29,179

Goodwill and Other Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets
Gross Carrying Value	$ 87,678	$ 88,181
Accumulated Amortization	(35,877)	(30,741)
Net Carrying Amount	51,801	57,440
Non-compete agreements
Finite-Lived Intangible Assets
Gross Carrying Value	4,215	4,238
Accumulated Amortization	(3,757)	(3,100)
Net Carrying Amount	458	1,138
Patents
Finite-Lived Intangible Assets
Gross Carrying Value	379	389
Accumulated Amortization	(172)	(164)
Net Carrying Amount	207	225
Customer relationships
Finite-Lived Intangible Assets
Gross Carrying Value	37,333	37,679
Accumulated Amortization	(10,869)	(9,171)
Net Carrying Amount	26,464	28,508
Trademarks and trade names
Finite-Lived Intangible Assets
Gross Carrying Value	10,057	10,085
Accumulated Amortization	(4,710)	(4,091)
Net Carrying Amount	5,347	5,994
Technology
Finite-Lived Intangible Assets
Gross Carrying Value	35,694	35,790
Accumulated Amortization	(16,369)	(14,215)
Net Carrying Amount	$ 19,325	$ 21,575
Weighted Average
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	15 years
Weighted Average \| Non-compete agreements
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	5 years	5 years
Weighted Average \| Patents
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	10 years	10 years
Weighted Average \| Customer relationships
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	18 years	17 years
Weighted Average \| Trademarks and trade names
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	14 years	14 years
Weighted Average \| Technology
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	14 years	14 years

Goodwill and Other Intangible Assets (Schedule of Expected Amortization Expense) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2018	$ 1,667
2019	6,262
2020	5,942
2021	5,923
2022	5,881
2023 and thereafter	26,126
Net Carrying Amount	$ 51,801	$ 57,440

Accounts Receivable (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Accounts Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Accounts Receivable Additional Disclosures [Abstract]
Allowance doubtful accounts, receivables	$ 1,297		$ 1,297		$ 2,151
Reserve for uncollectable accounts	$ (268)	$ 208	$ (987)	$ 737

Inventories (Schedule of Inventory) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Finished goods	$ 55,988	$ 55,846
Contract assets	27,796	25,320
Work-in-process	8,364	4,059
Raw materials	22,653	17,505
Total inventories at current costs	114,801	102,730
Less LIFO reserve	(7,601)	(5,187)
Inventory	$ 107,200	$ 97,543

Property, Plant and Equipment (Details)	3 Months Ended		9 Months Ended
Property, Plant and Equipment (Details)	Sep. 30, 2018 USD ($) a	Sep. 30, 2017 USD ($)	Sep. 30, 2018 USD ($) a	Sep. 30, 2017 USD ($)	Dec. 31, 2017 USD ($)
Property, Plant and Equipment
Property, plant and equipment - gross	$ 188,272,000		$ 188,272,000		$ 189,076,000
Less accumulated depreciation and amortization, including accumulated amortization of capitalized leases	(100,378,000)		(100,378,000)		(92,980,000)
Total property, plant and equipment, net	87,894,000		87,894,000		96,096,000
Depreciation	2,803,000	$ 3,178,000	8,685,000	$ 9,705,000
Asset impairment charge			0	0
Proceeds from the sale of property, plant, and equipment			2,267,000	$ 1,388,000
Land
Property, Plant and Equipment
Property, plant and equipment - gross	$ 12,535,000		$ 12,535,000		14,869,000
Area of land (in acres) \| a	54.5		54.5
Proceeds from the sale of property, plant, and equipment			$ 2,047,000
Loss on sale			269,000
Improvements to land and leaseholds
Property, Plant and Equipment
Property, plant and equipment - gross	$ 17,482,000		17,482,000		17,415,000
Buildings
Property, Plant and Equipment
Property, plant and equipment - gross	34,860,000		34,860,000		34,929,000
Machinery and equipment, including equipment under capitalized leases
Property, Plant and Equipment
Property, plant and equipment - gross	120,671,000		120,671,000		120,806,000
Construction in progress
Property, Plant and Equipment
Property, plant and equipment - gross	$ 2,724,000		$ 2,724,000		$ 1,057,000

Investments (Narrative) (Details) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
Investments (Narrative) (Details) $ in Thousands	Aug. 01, 2018 USD ($)	Sep. 30, 2018 USD ($) a facility	Sep. 30, 2017 USD ($)	Sep. 30, 2018 USD ($) a facility	Sep. 30, 2017 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Schedule of Equity Method Investments
Equity investments		$ 155		$ 155		$ 162
Assets held for sale			$ 3,875		$ 3,875
Proceeds from sale of equity method investments				3,875	0
Repayment of revolving line of credit from equity method investment				1,235	0
Equity in income (loss) of nonconsolidated investments		(4)	50	(7)	(5)
Reclassified
Schedule of Equity Method Investments
Equity investments			$ (4,288)		$ (4,288)
LB Pipe & Coupling Products, LLC
Schedule of Equity Method Investments
Equity method investment, ownership percentage	45.00%		45.00%		45.00%
Other than temporary impairment of equity method investment						413
Proceeds from sale of equity method investments	$ 3,875
Repayment of revolving line of credit from equity method investment	1,235
Equity in income (loss) of nonconsolidated investments		$ 0	$ 434	$ 0	$ 386
Interest income	$ 159
Line of credit, maximum lending capacity							$ 1,350
Due from joint ventures, current							$ 1,235
LB Pipe & Coupling Products, LLC \| Capital leased land
Schedule of Equity Method Investments
Area of land (in acres) \| a		5		5
Capital leased assets, number of units \| facility		2		2
Capital leases, monthly rent				$ 17
Capital leases balloon payment in direct financing leases		$ 488		488
LB Pipe & Coupling Products, LLC \| Other Joint Venture
Schedule of Equity Method Investments
Equity method investment, ownership percentage							45.00%
LB Pipe & Coupling Products, LLC \| Third Party
Schedule of Equity Method Investments
Equity method investment, ownership percentage			45.00%		45.00%
Other equity investments
Schedule of Equity Method Investments
Equity investments		$ 155		$ 155		$ 162

Investments (Schedule of Variable Interest Entities) (Details) - LB Pipe & Coupling Products, LLC - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Schedule of Equity Method Investments
Maximum exposure to loss	$ 602	$ 5,845
LB Pipe JV investments
Schedule of Equity Method Investments
Maximum exposure to loss	0	3,875
Revolving line of credit
Schedule of Equity Method Investments
Maximum exposure to loss	0	1,235
Net Investment In direct financing lease
Schedule of Equity Method Investments
Maximum exposure to loss	$ 602	$ 735

Investments (Schedule of Direct Financing Future Minimum Lease Payments for Capital Leases) (Details) $ in Thousands	Sep. 30, 2018 USD ($)
Investments [Abstract]
Remainder of 2018	$ 35
2019	567
Total future capital lease receivable	$ 602

Long-Term Debt (Schedule of Long-term Debt Instruments) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Revolving credit facility	$ 75,401	$ 128,470
Capital leases and financing agreements	1,069	1,496
Total	76,470	129,966
Less current maturities	(630)	(656)
Long-term debt	$ 75,840	$ 129,310

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

Long-Term Debt (Narrative - North America) (Details)				3 Months Ended		9 Months Ended
Long-Term Debt (Narrative - North America) (Details)	Jun. 30, 2018 USD ($)	Nov. 07, 2016 USD ($)	Jun. 29, 2016 USD ($)	Jun. 30, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2017 USD ($)
Line of Credit Facility
Line of credit facility, amount outstanding					$ 128,470,000	$ 75,401,000
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company
Line of Credit Facility
Line of credit facility, maximum borrowing capacity		$ 195,000,000	$ 275,000,000
Term loan		$ 30,000,000
Leverage ratio in seventh quarter		4.25
Leverage ratio in effect for the eighth quarter and remainder of a credit agreement		3.75
EBITDA required							$ 18,500,000
EBITDA required for seventh quarter	$ 31,000,000
Fixed charge coverage ratio					1.00
Fixed charge coverage ratio after fifth quarter						1.25
Liquidity covenant				$ 25,000,000
Maximum dividends allowed		$ 1,700,000	4,000,000
Loans and advances limit		5,000,000	10,000,000
Maximum asset sales allowed		25,000,000	25,000,000
Carryover of asset sales allowed		$ 15,000,000	$ 15,000,000
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| Euro-rate
Line of Credit Facility
Debt instrument, basis spread on variable rate		3.25%
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| Euro-rate \| Lowest Tier
Line of Credit Facility
Debt instrument, basis spread on variable rate		2.50%
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| Base Rate
Line of Credit Facility
Debt instrument, basis spread on variable rate		2.25%
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| Base Rate \| Lowest Tier
Line of Credit Facility
Debt instrument, basis spread on variable rate		1.50%
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| Revolving Credit Facility
Line of Credit Facility
Line of credit facility, amount outstanding						$ 425,000
Line of credit facility, current borrowing capacity						$ 119,174,000

Long-Term Debt (Narrative - United Kingdom) (Details)	9 Months Ended
Long-Term Debt (Narrative - United Kingdom) (Details)	Sep. 30, 2018 GBP (£)	Sep. 30, 2018 USD ($)	Dec. 31, 2017 USD ($)
Line of Credit Facility
Line of credit facility, amount outstanding		$ 75,401,000	$ 128,470,000
Foreign Line of Credit \| Natwest Bank
Line of Credit Facility
Line of credit facility, maximum borrowing capacity	£ 1,500,000	1,955,000
Line of credit facility, amount outstanding		0
Line of credit facility, current borrowing capacity		1,636,000
Foreign Line of Credit \| Natwest Bank \| Base Rate
Line of Credit Facility
Debt instrument, basis spread on variable rate	2.50%
Foreign Line of Credit \| Natwest Bank Outstanding Guarantees
Line of Credit Facility
Line of credit facility, amount outstanding		$ 319,000

Statement of Comprehensive Income [Abstract]

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Interest income	$ 71	$ 56	$ 166	$ 166
Interest expense	1,367	2,026	4,979	6,315
Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative, notional amount	50,000		50,000
Interest income	$ 18
Interest expense		$ 98	$ 16	$ 302

Fair Value Measurements (Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	$ 17	$ 17
Interest rate swaps	1,476	222
Total assets	1,493	239
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	17	17
Interest rate swaps	0	0
Total assets	17	17
Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	0	0
Interest rate swaps	1,476	222
Total assets	1,476	222
Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	0	0
Interest rate swaps	0	0
Total assets	$ 0	$ 0

Earning Per Common Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Numerator for basic and diluted earnings per common share:
Net income	$ 4,971	$ 3,222	$ 7,889	$ 3,824
Denominator:
Weighted average shares outstanding (shares)	10,365	10,341	10,361	10,332
Denominator for basic earnings per common share (shares)	10,365	10,341	10,361	10,332
Effect of dilutive securities:
Other stock compensation plans (shares)	124	138	120	103
Dilutive potential common shares (shares)	124	138	120	103
Denominator for diluted earnings per common share - adjusted weighted average shares outstanding and assumed conversions (shares)	10,489	10,479	10,481	10,435
Basic earnings per common share (usd per share)	$ 0.48	$ 0.31	$ 0.76	$ 0.37
Diluted earnings per common share (usd per share)	$ 0.47	$ 0.31	$ 0.75	$ 0.37

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended				5 Months Ended	9 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Mar. 31, 2015	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation	$ 934		$ 503			$ 2,838	$ 1,228
Expected cost on shares expected to vest	$ 4,647				$ 4,647	$ 4,647
Recognition period for compensation expense not yet recognized						3 years 7 months 6 days
Restricted Stock \| Vesting Period 1
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period				4 years
Restricted Stock \| Vesting Period 2
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period		3 years			1 year
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period						3 years

Stock-Based Compensation (Restricted Stock and Performance Share Units) (Details)	9 Months Ended
	Sep. 30, 2018 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value
Weighted average share price, beginning balance (usd per share) \| $ / shares	$ 16.53
Weighted average shares granted (usd per share) \| $ / shares	27.05
Weighted average shares vested (usd per share) \| $ / shares	28.07
Weighted average shares adjustment for incentive awards expected to vest (usd per share) \| $ / shares	27.96
Weighted average shares canceled and forfeited (usd per share) \| $ / shares	16.73
Weighted average share price, ending balance (usd per share) \| $ / shares	$ 18.57
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares
Nonvested Shares, Outstanding, Beginning Balance (shares)	186,806
Granted (shares)	62,320
Vested (shares)	(36,876)
Adjustment for incentive awards expected to vest (shares)	0
Canceled and forfeited (shares)	(15,425)
Nonvested Shares, Outstanding, Ending Balance (shares)	196,825
Deferred Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares
Nonvested Shares, Outstanding, Beginning Balance (shares)	26,860
Granted (shares)	14,914
Vested (shares)	0
Adjustment for incentive awards expected to vest (shares)	0
Canceled and forfeited (shares)	0
Nonvested Shares, Outstanding, Ending Balance (shares)	41,774
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares
Nonvested Shares, Outstanding, Beginning Balance (shares)	181,341
Granted (shares)	65,421
Vested (shares)	0
Adjustment for incentive awards expected to vest (shares)	48,888
Canceled and forfeited (shares)	(11,880)
Nonvested Shares, Outstanding, Ending Balance (shares)	283,770

Retirement Plans (Narrative) (Details) - Pension Plan $ in Thousands	9 Months Ended
	Sep. 30, 2018 USD ($) plan
Defined Benefit Plan Disclosure
Defined contribution plan number	6
United States
Defined Benefit Plan Disclosure
Number of retirement plans	3
Defined Benefit Plan Number	1
Defined contribution plan number	2
Canada
Defined Benefit Plan Disclosure
Defined contribution plan number	2
United Kingdom
Defined Benefit Plan Disclosure
Defined contribution plan number	2
Defined benefit plans, estimated future employer contributions in current fiscal year \| $	$ 244
Defined benefit plan, contributions by employer \| $	$ 189

Retirement Plans (Schedule Of Net Benefit Costs) (Details) - Pension Plan - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
United States
Defined Benefit Plan Disclosure
Interest cost	$ 155	$ 171	$ 466	$ 513
Expected return on plan assets	(213)	(178)	(640)	(533)
Recognized net actuarial loss	24	33	72	98
Net periodic pension (income) cost	(34)	26	(102)	78
United Kingdom
Defined Benefit Plan Disclosure
Interest cost	51	56	153	168
Expected return on plan assets	(70)	(67)	(210)	(201)
Amortization of prior service costs and transition amount	5	4	15	12
Recognized net actuarial loss	48	72	144	216
Net periodic pension (income) cost	$ 34	$ 65	$ 102	$ 195

Retirement Plans (Schedule of Costs of Retirement Plans) (Details) - Pension Plan - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Defined Contribution Plan Disclosure
Expenses associated with contributions made	$ 903	$ 561	$ 2,499	$ 1,749
United States
Defined Contribution Plan Disclosure
Expenses associated with contributions made	766	415	2,080	1,276
Canada
Defined Contribution Plan Disclosure
Expenses associated with contributions made	23	53	91	167
United Kingdom
Defined Contribution Plan Disclosure
Expenses associated with contributions made	$ 114	$ 93	$ 328	$ 306

Commitments and Contingent Liabilities (Narrative) (Details) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2014	Sep. 30, 2018 USD ($) tie	Dec. 31, 2014 USD ($) tie	Dec. 31, 2013 tie	Dec. 31, 2012 USD ($)	Dec. 31, 2017 USD ($)
Product Liability Contingency
Accrued warranty		$ 9,363				$ 8,682
Number of concrete ties manufactured \| tie		3,000,000
Accrual for environmental loss		$ 6,137				6,144
Reserve for concrete ties
Product Liability Contingency
Accrued warranty		$ 7,701				$ 7,595
Warranty period					5 years
2005 Contract
Product Liability Contingency
Number of concrete ties manufactured ratio \| tie		1.5
Warranty policy
Product Liability Contingency
Warranty period					15 years
Warranty Ratio					1
Uprr
Product Liability Contingency
Number of concrete ties manufactured \| tie		1,600,000
Warranty period					5 years
Warranty Ratio					1.5
Uprr \| Reserve for concrete ties
Product Liability Contingency
Product warranty expense					$ 22,000
Litigation settlement amount					$ 12,000
Cure period to claim	90 days			90 days
Change in standard product warranty accrual			$ 8,766
Number of Concrete Ties Excluded from Warranty \| tie			90,100
Uprr \| Warranty policy
Product Liability Contingency
Ties manufactured that did not meet criteria to be covered as warranty replacement ties \| tie				170,000
Rail Products and Services
Product Liability Contingency
Product warranty expense		$ 611

Commitments and Contingent Liabilities (Schedule of Product Warranty Liability) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2018 USD ($)
Movement in Standard Product Warranty Accrual
Beginning balance	$ 8,682
Additions to warranty liability	1,452
Warranty liability utilized	(771)
Ending balance	$ 9,363

Commitments and Contingent Liabilities (Environmental Loss Contingencies) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2018 USD ($)
Accrual for Environmental Loss Contingencies
Environmental liability, beginning balance	$ 6,144
Additions to environmental obligations	53
Environmental obligations utilized	(60)
Environmental liability, ending balance	$ 6,137

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Tax (benefit) provisions	$ (246)	$ (208)	$ 952	$ 698
Pre-tax income	$ 4,725	$ 3,014	$ 8,841	$ 4,522
Effective income tax rate, Percent	(5.20%)	(6.90%)	10.80%	15.40%
Tax benefit adjustments related to tax cuts and jobs act					$ 1,508
Additional tax expense from foreign tax positions, related to tax and jobs act					$ 3,298

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2018	Oct. 31, 2018
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q3
Entity Registrant Name	FOSTER L B CO
Entity Central Index Key	0000352825
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		10,562,832
Trading Symbol	fstr

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 9,586	$ 37,678
Accounts receivable - net	85,615	76,582
Inventories - net	107,200	97,543
Prepaid income tax	725	188
Other current assets	7,402	9,120
Total current assets	210,528	221,111
Property, plant, and equipment - net	87,894	96,096
Other assets:
Goodwill	19,449	19,785
Other intangibles - net	51,801	57,440
Investments	155	162
Other assets	719	1,962
Total assets	370,546	396,556
Current liabilities:
Accounts payable	72,355	52,404
Deferred revenue	12,384	10,136
Accrued payroll and employee benefits	11,052	11,888
Accrued warranty	9,363	8,682
Current maturities of long-term debt	630	656
Other accrued liabilities	9,157	9,764
Total current liabilities	114,941	93,530
Long-term debt	75,840	129,310
Deferred tax liabilities	7,864	9,744
Other long-term liabilities	16,813	17,493
Stockholders' equity:
Common stock, par value $0.01, authorized 20,000,000 shares; shares issued at September 30, 2018 and December 31, 2017, 11,115,779; shares outstanding at September 30, 2018 and December 31, 2017, 10,366,007 and 10,340,576, respectively	111	111
Paid-in capital	47,042	45,017
Retained earnings	145,364	137,780
Treasury stock - at cost, common stock, shares at September 30, 2018 and December 31, 2017, 749,772 and 775,203, respectively	(18,165)	(18,662)
Accumulated other comprehensive loss	(19,264)	(17,767)
Total stockholders' equity	155,088	146,479
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 370,546	$ 396,556

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common stock, par value (per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	20,000,000	20,000,000
Common stock, issued (shares)	11,115,779	11,115,779
Common stock, shares outstanding (shares)	10,366,007	10,340,576
Treasury stock shares - at cost, common stock (shares)	749,772	775,203

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
Sales of goods	$ 120,272	$ 103,058	$ 339,176	$ 318,414
Sales of services	46,822	28,434	123,262	76,640
Total net sales	167,094	131,492	462,438	395,054
Cost of goods sold	100,746	82,460	281,892	256,152
Cost of services sold	36,746	22,667	96,402	63,549
Total cost of sales	137,492	105,127	378,294	319,701
Gross profit	29,602	26,365	84,144	75,353
Selling and administrative expenses	21,662	20,218	65,488	60,023
Amortization expense	1,762	1,764	5,322	5,218
Interest expense	1,367	2,026	4,979	6,315
Interest income	(71)	(56)	(166)	(166)
Equity in loss (income) of nonconsolidated investments	4	(50)	7	5
Other (expense) income	153	(551)	(327)	(564)
Total expenses	24,877	23,351	75,303	70,831
Income before income taxes	4,725	3,014	8,841	4,522
Income tax (benefit) expense	(246)	(208)	952	698
Net income	$ 4,971	$ 3,222	$ 7,889	$ 3,824
Basic earnings per common share (usd per share)	$ 0.48	$ 0.31	$ 0.76	$ 0.37
Diluted earnings per common share (usd per share)	$ 0.47	$ 0.31	$ 0.75	$ 0.37

Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

Net income

$ 4,971

$ 3,222

$ 7,889

$ 3,824

Other comprehensive (loss) income, net of tax:

Foreign currency translation adjustment

(371)

2,412

(3,132)

5,528

Unrealized gain (loss) on cash flow hedges, net of tax expense of $0 for all periods

207

1,243

(119)

Reclassification of pension liability adjustments to earnings, net of tax expense of $0 for all periods

^[1]

137

114

392

335

Other comprehensive (loss) income

(27)

2,608

(1,497)

5,744

Comprehensive income

$ 4,944

$ 5,830

$ 6,392

$ 9,568

[1]	Reclassifications out of accumulated other comprehensive loss for pension obligations are charged to selling and administrative expenses.

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Unrealized gain (loss) on cash flow hedges, tax	$ 0	$ 0	$ 0	$ 0
Reclassification of pension liability adjustments to earnings, tax	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 7,889	$ 3,824
Adjustments to reconcile net income to cash provided (used) by operating activities:
Deferred income taxes	(1,796)	(648)
Depreciation	8,685	9,705
Amortization	5,322	5,218
Equity in loss of nonconsolidated investments	7	5
Loss (gain) on sales and disposals of property, plant, and equipment	498	(347)
Stock-based compensation	2,838	1,228
Change in operating assets and liabilities:
Accounts receivable	(10,634)	(11,899)
Inventories	(10,546)	(19,336)
Other current assets	(1,160)	(786)
Prepaid income tax	(3,025)	12,569
Other noncurrent assets	1,132	719
Accounts payable	19,604	22,017
Deferred revenue	2,278	3,339
Accrued payroll and employee benefits	(778)	2,734
Other current liabilities	2,287	(763)
Other long-term liabilities	(176)	(63)
Net cash provided by operating activities	22,425	27,516
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from the sale of property, plant, and equipment	2,267	1,388
Capital expenditures on property, plant, and equipment	(3,196)	(5,335)
Proceeds from sale of equity method investments	3,875	0
Repayment of revolving line of credit from equity method investment	1,235	0
Net cash provided by (used in) investing activities	4,181	(3,947)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of debt	(153,089)	(113,119)
Proceeds from debt	99,592	91,838
Treasury stock acquisitions	(316)	(103)
Net cash used in financing activities	(53,813)	(21,384)
Effect of exchange rate changes on cash and cash equivalents	(885)	2,460
Net (decrease) increase in cash and cash equivalents	(28,092)	4,645
Cash and cash equivalents at beginning of period	37,678	30,363
Cash and cash equivalents at end of period	9,586	35,008
Supplemental disclosure of cash flow information:
Interest paid	4,468	5,599
Income taxes paid (received)	$ 4,077	$ (11,233)

Financial Statements	9 Months Ended
Financial Statements	Sep. 30, 2018
Quarterly Financial Data [Abstract]
Financial Statements	FINANCIAL STATEMENTS Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all estimates and adjustments (consisting of normal recurring accruals, unless otherwise stated herein) considered necessary for a fair presentation of the financial position of L.B. Foster Company and subsidiaries as of September 30, 2018 and December 31, 2017, its condensed consolidated statements of operations for the three and nine months ended September 30, 2018 and 2017, and its statements of cash flows for the nine months ended September 30, 2018 and 2017, have been included. However, actual results could differ from those estimates. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. The Condensed Consolidated Balance Sheet as of December 31, 2017 was derived from audited financial statements. This Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017. In this Quarterly Report on Form 10-Q, references to “we,” “us,” “our,” and the “Company” refer collectively to L.B. Foster Company and its consolidated subsidiaries. Recently Issued Accounting Standards In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). The new accounting requirements include the accounting for, presentation of, and classification of leases. The guidance will result in most leases being capitalized as a right-of-use asset with a related balance sheet liability. The requirements of the new standard are effective for annual reporting periods beginning after December 15, 2018, and interim periods within those annual periods. The Company is in the process of analyzing the impact of ASU 2016-02 on our financial position. The Company has a significant number of operating leases, and, as a result, expects this guidance to have a material impact on its Condensed Consolidated Balance Sheet. The change will not affect the covenants of the Amended and Restated Credit Agreement dated March 13, 2015 and as amended by the Second Amendment dated November 7, 2016 as defined in Note 9. Long-Term Debt of the Notes to Condensed Consolidated Financial Statements contained in this Quarterly Report on Form 10-Q. The Company has gathered the agreements covered by ASU 2016-02 and will continue to evaluate the impact that ASU 2016-02 will have on its financial statements, related disclosures, and internal controls. Regular updates are provided to the Audit Committee regarding the progress and milestones of the adoption. The Company does not anticipate early adoption of ASU 2016-02. In February 2018, the FASB issued ASU 2018-02, “Income Statement – Reporting Comprehensive Income” (“ASU 2018-02”), that will permit companies the option to reclassify stranded tax effects caused by the newly-enacted US Tax Cuts and Jobs Act (the “Tax Act”) from accumulated other comprehensive income to retained earnings. Consequently, the amendments eliminate the stranded tax effects resulting from the Tax Act and will improve the usefulness of information reported to financial statement users. However, because the amendments only relate to the reclassification of the income tax effects of the Tax Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. Adoption of the ASU will be optional and a company will need to disclose if it elects not to adopt the ASU. The ASU will be effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption will be permitted, including adoption in any interim period, for financial statements that have not yet been issued or made available for issuance. Entities will have the option to apply the amendments retrospectively or to record the reclassification as of the beginning of the period of adoption. The Company is evaluating the impact of ASU 2018-02 on its financial position and whether or not it will choose to adopt the ASU. The SEC Disclosure Update and Simplification release (“DUSTR”) adopted certain amendments in August 2018. While most of the amendments eliminate outdated or duplicative disclosure requirements, the final rule amends the interim financial statement requirements to require a reconciliation of changes in stockholders’ equity in the notes to the financial statements or as a separate statement. This analysis should reconcile the beginning balance to the ending balance of each caption in stockholders’ equity for each period for which an income statement is required to be filed and comply with the remaining content requirements of Rule 3-04 of Regulation S-X. As a result, registrants will be required to provide the reconciliation for both the comparable quarterly and year-to-date periods in its Quarterly Report on Form 10-Q but only for the year-to-date periods in registration statements, beginning in the first quarter of 2019. Recently Adopted Accounting Standards In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”), which supersedes the revenue recognition requirements in Accounting Standards Codification (“ASC”) 605, “Revenue Recognition” (“ASC 605”). ASU 2014-09 is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. It also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue, cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for fiscal years beginning after December 15, 2017, including interim periods within that reporting period. The Company adopted the provisions of ASU 2014-09 on January 1, 2018, using the modified retrospective approach. Revenue from the Company's product and service sales continue to be recognized when products are shipped or services are rendered. Revenue from the Company's product and service sales provided under long-term agreements is recognized as the Company transfers control of the product or renders service to its customers, which approximates the previously used percentage-of-completion method of accounting. The adoption of ASU 2014-09 had no material effect on the Company's financial position, results of operations, cash flows, or backlog, and no adjustment to January 1, 2018 opening retained earnings was needed. The Company has presented the disclosures required by ASC 606, “Revenue from Contracts with Customers” (“ASC 606”) in Note 3. Revenue of the Notes to Condensed Consolidated Financial Statements contained in this Quarterly Report on Form 10-Q. In October 2016, the FASB issued ASU 2016-16, “Income Taxes – Intra-Entity Transfers of Assets Other Than Inventory (Topic 740),” (“ASU 2016-16”) which requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. The ASU was effective on January 1, 2018 and was adopted by the Company on that date, using the modified retrospective approach. Under this approach, the Company recorded a reduction to its January 1, 2018 opening retained earnings of $305 as a result of prior intra-entity transactions. In March 2018, the FASB issued ASU 2018-05, “Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118,” which allowed SEC registrants to record provisional amounts in earnings for the year ended December 31, 2017 due to the complexities involved in accounting for the enactment of the Tax Act enacted on December 22, 2017. The Company recognized estimated income tax effects of the Tax Act in its 2017 Consolidated Financial Statements in accordance with SEC Staff Accounting Bulletin No. 118 (“SAB No. 118”). Refer to Note 15. Income Taxes of the Notes to Condensed Consolidated Financial Statements contained in this Quarterly Report on Form 10-Q for further information regarding the provisional amounts recorded by the Company as of December 31, 2017 through September 30, 2018. In March 2017, the FASB issued ASU 2017-07, “Compensation - Retirement Benefits (Topic 715)” (“ASU 2017-07”), which improves the presentation of net periodic pension cost and net periodic postretirement benefit cost. The guidance requires that the entity report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period, and report the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement separately from the service cost component and not within income from operations. Of the components of net periodic benefit cost, only the service cost component will be eligible for asset capitalization. The new standard is effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods. The adoption of ASU 2017-07 had no impact to the Company. Reclassifications and Disclosures Certain amounts in previously issued financial statements have been reclassified to conform to the current period presentation. These reclassifications represent the change in allocated corporate expenses as disclosed in Note 2. Business Segments and the adoption of ASC 606 disclosed in Note 3. Revenue, Note 5. Accounts Receivable, and Note 6. Inventories of the Notes to Condensed Consolidated Financial Statements contained in this Quarterly Report on Form 10-Q.

Business Segments

9 Months Ended

Sep. 30, 2018

Business Segments

the Company's Consolidated Financial Statements contained in its Annual Report on Form 10-K for the year-ended December 31, 2017.

The following table illustrates the Company's revenues and profit from operations by segment for the periods indicated:


	Three Months Ended September 30, 2018						Three Months Ended September 30, 2017
	Net Sales		Segment Profit		Net Sales		Segment Profit
Rail Products and Services	$	84,517	$	5,299	$	62,095	$	3,179
Construction Products	41,534		1,603		39,118		3,846
Tubular and Energy Services	41,043		4,274		30,279		2,093
Total	$	167,094	$	11,176	$	131,492	$	9,118

	Nine Months Ended September 30, 2018						Nine Months Ended September 30, 2017
	Net Sales		Segment Profit		Net Sales		Segment Profit
Rail Products and Services	$	238,571	$	12,655	$	187,922	$	7,581
Construction Products	112,641		4,478		121,905		10,617
Tubular and Energy Services	111,226		10,704		85,227		1,287
Total	$	462,438	$	27,837	$	395,054	$	19,485

The following table provides a reconciliation of segment net profit from operations to the Company’s consolidated total:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
Profit for reportable segments	$	11,176	$	9,118	$	27,837	$	19,485
Interest expense	(1,367)		(2,026)		(4,979)		(6,315)
Interest income	71		56		166		166
Other (expense) income	(153)		551		327		564
LIFO expense	(1,701)		(1,552)		(2,414)		(1,733)
Equity in (loss) income of nonconsolidated investments	(4)		50		(7)		(5)
Unallocated corporate expenses and other unallocated charges	(3,297)		(3,183)		(12,089)		(7,640)
Income before income taxes	$	4,725	$	3,014	$	8,841	$	4,522

The following table illustrates assets of the Company by segment:


	September 30, 2018		December 31, 2017
Rail Products and Services	$	171,183	$	192,038
Construction Products	92,996		83,154
Tubular and Energy Services	90,984		100,706
Unallocated corporate assets	15,383		20,658
Total	$	370,546	$	396,556

Revenue

9 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Revenue

REVENUE

The following table summarizes the Company's net sales by major product and service category:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
Rail Products	$	49,234	$	36,297	$	139,600	$	115,061
Rail Technologies	35,283		25,798		98,971		72,861
Rail Products and Services	84,517		62,095		238,571		187,922
Piling and Fabricated Bridge	26,798		24,186		71,505		83,016
Precast Concrete Products	14,736		14,932		41,136		38,889
Construction Products	41,534		39,118		112,641		121,905
Test, Inspection, and Threading	15,296		13,729		44,517		37,661
Protective Coatings and Measurement Solutions	25,747		16,550		66,709		47,566
Tubular and Energy Services	41,043		30,279		111,226		85,227
Total net sales	$	167,094	$	131,492	$	462,438	$	395,054

Net sales by the timing of the transfer of goods and services is as follows:


Three Months Ended September 30, 2018	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	61,426	$	27,459	$	33,474	$	122,359
Over time	23,091		14,075		7,569		44,735
Total net sales	$	84,517	$	41,534	$	41,043	$	167,094

Three Months Ended September 30, 2017	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	51,043	$	22,768	$	26,138	$	99,949
Over time	11,052		16,350		4,141		31,543
Total net sales	$	62,095	$	39,118	$	30,279	$	131,492


Nine Months Ended September 30, 2018	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	176,592	$	74,581	$	94,832	$	346,005
Over time	61,979		38,060		16,394		116,433
Total net sales	$	238,571	$	112,641	$	111,226	$	462,438

Nine Months Ended September 30, 2017	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	153,707	$	76,158	$	73,189	$	303,054
Over time	34,215		45,747		12,038		92,000
Total net sales	$	187,922	$	121,905	$	85,227	$	395,054

beginning of the period, and increases of $1,754 due to billings in excess of costs, excluding amounts recognized as revenue during the period.

Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2018

Goodwill and Other Intangible Assets

GOODWILL AND OTHER INTANGIBLE ASSETS

The following table presents the goodwill balance by reportable segment:


	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Balance as of December 31, 2017	$	14,638	$	5,147	$	—	$	19,785
Foreign currency translation impact	(336)		—		—		(336)
Balance as of September 30, 2018	$	14,302	$	5,147	$	—	$	19,449

The following table represents the gross balances of other intangible asset by reportable segment:


	September 30, 2018		December 31, 2017
Rail Products and Services*	$	57,151	$	57,654
Construction Products	1,348		1,348
Tubular and Energy Services	29,179		29,179
	$	87,678	$	88,181

* Gross balances include the impact of foreign currency translation adjustments.

The components of the Company’s intangible assets were as follows:


	September 30, 2018
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	5	$	4,215	$	(3,757)	$	458
Patents	10	379		(172)		207
Customer relationships	18	37,333		(10,869)		26,464
Trademarks and trade names	14	10,057		(4,710)		5,347
Technology	14	35,694		(16,369)		19,325
		$	87,678	$	(35,877)	$	51,801

	December 31, 2017
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	5	$	4,238	$	(3,100)	$	1,138
Patents	10	389		(164)		225
Customer relationships	17	37,679		(9,171)		28,508
Trademarks and trade names	14	10,085		(4,091)		5,994
Technology	14	35,790		(14,215)		21,575
		$	88,181	$	(30,741)	$	57,440

As of September 30, 2018, estimated amortization expense for the remainder of 2018 and thereafter was as follows:


	Amortization Expense
Remainder of 2018	$	1,667
2019	6,262
2020	5,942
2021	5,923
2022	5,881
2023 and thereafter	26,126
	$	51,801

Accounts Receivable	9 Months Ended
Accounts Receivable	Sep. 30, 2018
Accounts Receivable Additional Disclosures [Abstract]
Accounts Receivable	ACCOUNTS RECEIVABLECredit is extended based upon an evaluation of the customer’s financial condition and, while collateral is not required, the Company periodically receives surety bonds that guarantee payment. Credit terms are consistent with industry standards and practices. The amounts of trade accounts receivable as of September 30, 2018 and December 31, 2017 have been reduced by an allowance for doubtful accounts of $1,297 and $2,151, respectively. Changes in reserves for uncollectable accounts are recorded as part of selling and administrative expenses in the Condensed Consolidated Statements of Operations, and were income of $268 and expense of $208 for the three months ended September 30, 2018 and 2017, respectively, and income of $987 and expense of $737 for the nine months ended September 30, 2018 and 2017, respectively.

Inventories

9 Months Ended

Sep. 30, 2018

Inventories

INVENTORIES

Inventories as of September 30, 2018 and December 31, 2017 are summarized in the following table:


	September 30, 2018		December 31, 2017
Finished goods	$	55,988	$	55,846
Contract assets	27,796		25,320
Work-in-process	8,364		4,059
Raw materials	22,653		17,505
Total inventories at current costs	114,801		102,730
Less LIFO reserve	(7,601)		(5,187)
	$	107,200	$	97,543

Property, Plant and Equipment

9 Months Ended

Sep. 30, 2018

PROPERTY, PLANT, AND EQUIPMENT

Property, plant, and equipment as of September 30, 2018 and December 31, 2017 consisted of the following:


	September 30, 2018		December 31, 2017
Land	$	12,535	$	14,869
Improvements to land and leaseholds	17,482		17,415
Buildings	34,860		34,929
Machinery and equipment, including equipment under capitalized leases	120,671		120,806
Construction in progress	2,724		1,057
	188,272		189,076
Less accumulated depreciation and amortization, including accumulated amortization of capitalized leases	(100,378)		(92,980)
	$	87,894	$	96,096

During the nine months ended September 30, 2018, the Company sold 54.5 acres of land in exchange for cash proceeds of $2,047, resulting in a loss of $269.

Investments

9 Months Ended

Sep. 30, 2018

Investments

INVESTMENTS

As of September 30, 2018 and December 31, 2017, the Company had a nonconsolidated equity method investment of $155 and $162, respectively.

The carrying amounts with the Company’s maximum exposure to loss as of September 30, 2018 and December 31, 2017, respectively, were as follows:


	September 30, 2018		December 31, 2017
L B Pipe JV investment	$	—	$	3,875
Revolving line of credit	—		1,235
Net investment in direct financing lease	602		735
	$	602	$	5,845

The following is a schedule as of September 30, 2018 of the direct financing minimum lease payments for the remainder of 2018 and the year 2019:


	Minimum Lease Payments
Remainder of 2018	$	35
2019	567

	$	602

Long-Term Debt

9 Months Ended

Sep. 30, 2018

Long-Term Debt

LONG-TERM DEBT

North America

Long-term debt consisted of the following:


	September 30, 2018		December 31, 2017
Revolving credit facility	$	75,401	$	128,470

Capital leases and financing agreements	1,069		1,496
Total	76,470		129,966
Less current maturities	(630)		(656)
Long-term portion	$	75,840	$	129,310

As of September 30, 2018, L.B. Foster was in compliance with the Second Amendment’s covenants.

United Kingdom

Fair Value Measurements

9 Months Ended

Sep. 30, 2018

Fair Value Measurements

FAIR VALUE MEASUREMENTS

Level 1: Quoted market prices in active markets for identical assets or liabilities.

Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.

Level 3: Unobservable inputs that are not corroborated by market data.

The classification of a financial asset or liability within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.


	Fair Value Measurements at Reporting Date														Fair Value Measurements at Reporting Date
	September 30, 2018		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		December 31, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Term deposits	$	17	$	17	$	—	$	—	$	17	$	17	$	—	$	—
Interest rate swaps	1,476		—		1,476		—		222		—		222		—
Total assets	$	1,493	$	17	$	1,476	$	—	$	239	$	17	$	222	$	—

Earnings Per Common Share

9 Months Ended

Sep. 30, 2018

Earnings Per Common Share

EARNINGS PER COMMON SHARE

(Share amounts in thousands)

The following table sets forth the computation of basic and diluted earnings per common share for the periods indicated:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
Numerator for basic and diluted earnings per common share:
Net income	$	4,971	$	3,222	$	7,889	$	3,824
Denominator:
Weighted average shares outstanding	10,365		10,341		10,361		10,332
Denominator for basic earnings per common share	10,365		10,341		10,361		10,332
Effect of dilutive securities:
Stock compensation plans	124		138		120		103
Dilutive potential common shares	124		138		120		103
Denominator for diluted earnings per common share - adjusted weighted average shares outstanding	10,489		10,479		10,481		10,435
Basic earnings per common share	$	0.48	$	0.31	$	0.76	$	0.37
Diluted earnings per common share	$	0.47	$	0.31	$	0.75	$	0.37

Stock-Based Compensation

9 Months Ended

Sep. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Stock-based Compensation

Restricted Stock Awards and Performance Share Units

The following table summarizes the restricted stock award, deferred stock units, and performance share units activity for the nine months ended September 30, 2018:


	Restricted Stock	Deferred Stock Units	Performance Share Units	Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2017	186,806	26,860	181,341	$	16.53
Granted	62,320	14,914	65,421	27.05
Vested	(36,876)	—	—	28.07
Adjustment for incentive awards expected to vest	—	—	48,888	27.96
Cancelled and forfeited	(15,425)	—	(11,880)	16.73
Outstanding as of September 30, 2018	196,825	41,774	283,770	$	18.57

Retirement Plans

9 Months Ended

Sep. 30, 2018

Retirement Plans

RETIREMENT PLANS

Retirement Plans

United States Defined Benefit Plan

Net periodic pension costs for the United States defined benefit pension plan for the three- and nine-month periods ended September 30, 2018 and 2017 were as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017

Interest cost	$	155	$	171	$	466	$	513
Expected return on plan assets	(213)		(178)		(640)		(533)
Recognized net actuarial loss	24		33		72		98
Net periodic pension (income) cost	$	(34)	$	26	$	(102)	$	78

The Company does not expect to contribute to its United States defined benefit pension plan in 2018.

United Kingdom Defined Benefit Plan

Net periodic pension costs for the United Kingdom defined benefit pension plan for the three- and nine-month periods ended September 30, 2018 and 2017 were as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
Interest cost	$	51	$	56	$	153	$	168
Expected return on plan assets	(70)		(67)		(210)		(201)
Amortization of prior service costs and transition amount	5		4		15		12
Recognized net actuarial loss	48		72		144		216
Net periodic pension cost	$	34	$	65	$	102	$	195

Defined Contribution Plans


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
United States	$	766	$	415	$	2,080	$	1,276
Canada	23		53		91		167
United Kingdom	114		93		328		306
	$	903	$	561	$	2,499	$	1,749

Commitments and Contingent Liabilities

9 Months Ended

Sep. 30, 2018

Commitments and Contingent Liabilities

COMMITMENTS AND CONTINGENT LIABILITIES

Product Liability Claims

The following table sets forth the Company’s product warranty accrual:


	Warranty Liability
Balance as of December 31, 2017	$	8,682
Additions to warranty liability	1,452
Warranty liability utilized	(771)
Balance as of September 30, 2018	$	9,363

Union Pacific Railroad (UPRR) Concrete Tie Matter

2012

2013

2014

2015

2016

2017

2018

Environmental and Legal Proceedings


	Environmental liability
Balance as of December 31, 2017	$	6,144
Additions to environmental obligations	53
Environmental obligations utilized	(60)
Balance as of September 30, 2018	$	6,137

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES For the three months ended September 30, 2018 and 2017, the Company recorded an income tax benefit of $246 and $208 on pre-tax income of $4,725 and $3,014 for an effective income tax rate of (5.2)% and (6.9)%, respectively. For the nine months ended September 30, 2018 and 2017, the Company recorded an income tax expense of $952 and $698 on pre-tax income of $8,841 and $4,522 for an effective income tax rate of 10.8% and 15.4%, respectively. The Company's tax provision for the three and nine months ended September 30, 2018 is primarily comprised of taxes on our Canadian and United Kingdom operations. However, as a result of the U.S. consolidated group's current year income, the Company's estimated annual effective tax rate was adjusted during the third quarter to include the realization of a portion of its U.S. deferred tax assets previously offset by a valuation allowance. The Company continued to maintain a full valuation allowance against its U.S. deferred tax assets, which is likely to result in significant variability of the effective tax rate in the current year. Changes in pre-tax income projections and the mix of income across jurisdictions could also impact the effective income tax rate. The Tax Act was enacted on December 22, 2017. The Tax Act reduced the U.S. federal corporate tax rate from 35% to 21%, required companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred, and created new taxes on certain foreign sourced earnings. Due to the complexities involved in accounting for the enactment of the Tax Act, SEC Staff Accounting Bulletin No. 118 (“SAB No. 118”) allowed the Company to record provisional amounts in earnings for the year ended December 31, 2017. The Company has not completed its accounting for the tax effects of the enactment of the Tax Act; however, as described below, the Company made reasonable estimates of the effects of the Tax Act on existing deferred tax balances and the one-time transition tax. In 2017, the Company recognized a $1,508 provisional tax benefit related to the remeasurement of certain deferred tax assets and liabilities, as well as a $3,298 provisional tax expense related to the one-time transition tax on mandatory deemed repatriation of foreign earnings, and related items. During the nine-month period ended September 30, 2018, there were no changes made to the provisional amounts recognized in 2017. The Company will continue to analyze the effects of the Tax Act on its Condensed Consolidated Financial Statements. Additional impacts from the enactment of the Tax Act will be recorded as they are identified during the measurement period provided for in SAB No. 118, which extends up to one year from the enactment date. The final impact of the Tax Act may differ from the provisional amounts that have been recognized, possibly materially, due to, among other things, changes in the Company’s interpretation of the Tax Act, legislative or administrative actions to clarify the intent of the statutory language provided that differ from the Company’s current interpretation, any changes in accounting standards for income taxes or related interpretations in response to the Tax Act, or any updates or changes to estimates utilized to calculate the impacts. The Company also continues to evaluate the impact of the global intangible low-taxed income (“GILTI”) provisions of the Tax Act, which are complex and subject to continuing regulatory interpretation. The Company has not yet completed its assessment to make an accounting policy election to either recognize deferred taxes for basis differences expected to reverse as GILTI or to record GILTI as period costs if and when incurred. Adjustments related to the amount of GILTI tax recorded in its consolidated financial statements may be required based on the outcome of this election.

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTSThe Company has evaluated subsequent events through the date these financial statements were issued and concluded that no subsequent events have occurred that would require recognition in the Condensed Consolidated Financial Statements or disclosure in the Notes to Condensed Consolidated Financial Statements.

Financial Statements (Policies)	9 Months Ended
Financial Statements (Policies)	Sep. 30, 2018
Quarterly Financial Data [Abstract]
Basis of presentation	Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all estimates and adjustments (consisting of normal recurring accruals, unless otherwise stated herein) considered necessary for a fair presentation of the financial position of L.B. Foster Company and subsidiaries as of September 30, 2018 and December 31, 2017, its condensed consolidated statements of operations for the three and nine months ended September 30, 2018 and 2017, and its statements of cash flows for the nine months ended September 30, 2018 and 2017, have been included. However, actual results could differ from those estimates. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. The Condensed Consolidated Balance Sheet as of December 31, 2017 was derived from audited financial statements. This Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017. In this Quarterly Report on Form 10-Q, references to “we,” “us,” “our,” and the “Company” refer collectively to L.B. Foster Company and its consolidated subsidiaries.
Recently issued accounting standards	Recently Issued Accounting Standards In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). The new accounting requirements include the accounting for, presentation of, and classification of leases. The guidance will result in most leases being capitalized as a right-of-use asset with a related balance sheet liability. The requirements of the new standard are effective for annual reporting periods beginning after December 15, 2018, and interim periods within those annual periods. The Company is in the process of analyzing the impact of ASU 2016-02 on our financial position. The Company has a significant number of operating leases, and, as a result, expects this guidance to have a material impact on its Condensed Consolidated Balance Sheet. The change will not affect the covenants of the Amended and Restated Credit Agreement dated March 13, 2015 and as amended by the Second Amendment dated November 7, 2016 as defined in Note 9. Long-Term Debt of the Notes to Condensed Consolidated Financial Statements contained in this Quarterly Report on Form 10-Q. The Company has gathered the agreements covered by ASU 2016-02 and will continue to evaluate the impact that ASU 2016-02 will have on its financial statements, related disclosures, and internal controls. Regular updates are provided to the Audit Committee regarding the progress and milestones of the adoption. The Company does not anticipate early adoption of ASU 2016-02. In February 2018, the FASB issued ASU 2018-02, “Income Statement – Reporting Comprehensive Income” (“ASU 2018-02”), that will permit companies the option to reclassify stranded tax effects caused by the newly-enacted US Tax Cuts and Jobs Act (the “Tax Act”) from accumulated other comprehensive income to retained earnings. Consequently, the amendments eliminate the stranded tax effects resulting from the Tax Act and will improve the usefulness of information reported to financial statement users. However, because the amendments only relate to the reclassification of the income tax effects of the Tax Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. Adoption of the ASU will be optional and a company will need to disclose if it elects not to adopt the ASU. The ASU will be effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption will be permitted, including adoption in any interim period, for financial statements that have not yet been issued or made available for issuance. Entities will have the option to apply the amendments retrospectively or to record the reclassification as of the beginning of the period of adoption. The Company is evaluating the impact of ASU 2018-02 on its financial position and whether or not it will choose to adopt the ASU. The SEC Disclosure Update and Simplification release (“DUSTR”) adopted certain amendments in August 2018. While most of the amendments eliminate outdated or duplicative disclosure requirements, the final rule amends the interim financial statement requirements to require a reconciliation of changes in stockholders’ equity in the notes to the financial statements or as a separate statement. This analysis should reconcile the beginning balance to the ending balance of each caption in stockholders’ equity for each period for which an income statement is required to be filed and comply with the remaining content requirements of Rule 3-04 of Regulation S-X. As a result, registrants will be required to provide the reconciliation for both the comparable quarterly and year-to-date periods in its Quarterly Report on Form 10-Q but only for the year-to-date periods in registration statements, beginning in the first quarter of 2019. Recently Adopted Accounting Standards In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”), which supersedes the revenue recognition requirements in Accounting Standards Codification (“ASC”) 605, “Revenue Recognition” (“ASC 605”). ASU 2014-09 is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. It also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue, cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for fiscal years beginning after December 15, 2017, including interim periods within that reporting period. The Company adopted the provisions of ASU 2014-09 on January 1, 2018, using the modified retrospective approach. Revenue from the Company's product and service sales continue to be recognized when products are shipped or services are rendered. Revenue from the Company's product and service sales provided under long-term agreements is recognized as the Company transfers control of the product or renders service to its customers, which approximates the previously used percentage-of-completion method of accounting. The adoption of ASU 2014-09 had no material effect on the Company's financial position, results of operations, cash flows, or backlog, and no adjustment to January 1, 2018 opening retained earnings was needed. The Company has presented the disclosures required by ASC 606, “Revenue from Contracts with Customers” (“ASC 606”) in Note 3. Revenue of the Notes to Condensed Consolidated Financial Statements contained in this Quarterly Report on Form 10-Q. In October 2016, the FASB issued ASU 2016-16, “Income Taxes – Intra-Entity Transfers of Assets Other Than Inventory (Topic 740),” (“ASU 2016-16”) which requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. The ASU was effective on January 1, 2018 and was adopted by the Company on that date, using the modified retrospective approach. Under this approach, the Company recorded a reduction to its January 1, 2018 opening retained earnings of $305 as a result of prior intra-entity transactions. In March 2018, the FASB issued ASU 2018-05, “Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118,” which allowed SEC registrants to record provisional amounts in earnings for the year ended December 31, 2017 due to the complexities involved in accounting for the enactment of the Tax Act enacted on December 22, 2017. The Company recognized estimated income tax effects of the Tax Act in its 2017 Consolidated Financial Statements in accordance with SEC Staff Accounting Bulletin No. 118 (“SAB No. 118”). Refer to Note 15. Income Taxes of the Notes to Condensed Consolidated Financial Statements contained in this Quarterly Report on Form 10-Q for further information regarding the provisional amounts recorded by the Company as of December 31, 2017 through September 30, 2018. In March 2017, the FASB issued ASU 2017-07, “Compensation - Retirement Benefits (Topic 715)” (“ASU 2017-07”), which improves the presentation of net periodic pension cost and net periodic postretirement benefit cost. The guidance requires that the entity report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period, and report the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement separately from the service cost component and not within income from operations. Of the components of net periodic benefit cost, only the service cost component will be eligible for asset capitalization. The new standard is effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods. The adoption of ASU 2017-07 had no impact to the Company.
Reclassifications and Disclosures	Reclassifications and Disclosures Certain amounts in previously issued financial statements have been reclassified to conform to the current period presentation. These reclassifications represent the change in allocated corporate expenses as disclosed in Note 2. Business Segments and the adoption of ASC 606 disclosed in Note 3. Revenue, Note 5. Accounts Receivable, and Note 6. Inventories of the Notes to Condensed Consolidated Financial Statements contained in this Quarterly Report on Form 10-Q.
Inventory	Inventory is generally valued at the lower of last-in, first-out (“LIFO”) cost or market. Other inventories of the Company are valued at average cost or net realizable value, whichever is lower. An actual valuation of inventory under the LIFO method is made at the end of each year based on the inventory levels and costs at that time. Interim LIFO calculations are based on management’s estimates of expected year-end levels and costs. Prior to the adoption of ASU 2014-09, contract assets were classified within work-in-process inventory.
Share based compensation	The Company applies the provisions of ASC 718, “Compensation – Stock Compensation,” to account for the Company’s stock-based compensation. Stock-based compensation cost is measured at the grant date based on the calculated fair value of the award and is recognized over the employees’ requisite service period

Business Segments (Tables)

9 Months Ended

Sep. 30, 2018

Reconciliation of Revenue from Segments to Consolidated

The following table illustrates the Company's revenues and profit from operations by segment for the periods indicated:


	Three Months Ended September 30, 2018						Three Months Ended September 30, 2017
	Net Sales		Segment Profit		Net Sales		Segment Profit
Rail Products and Services	$	84,517	$	5,299	$	62,095	$	3,179
Construction Products	41,534		1,603		39,118		3,846
Tubular and Energy Services	41,043		4,274		30,279		2,093
Total	$	167,094	$	11,176	$	131,492	$	9,118

	Nine Months Ended September 30, 2018						Nine Months Ended September 30, 2017
	Net Sales		Segment Profit		Net Sales		Segment Profit
Rail Products and Services	$	238,571	$	12,655	$	187,922	$	7,581
Construction Products	112,641		4,478		121,905		10,617
Tubular and Energy Services	111,226		10,704		85,227		1,287
Total	$	462,438	$	27,837	$	395,054	$	19,485

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table provides a reconciliation of segment net profit from operations to the Company’s consolidated total:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
Profit for reportable segments	$	11,176	$	9,118	$	27,837	$	19,485
Interest expense	(1,367)		(2,026)		(4,979)		(6,315)
Interest income	71		56		166		166
Other (expense) income	(153)		551		327		564
LIFO expense	(1,701)		(1,552)		(2,414)		(1,733)
Equity in (loss) income of nonconsolidated investments	(4)		50		(7)		(5)
Unallocated corporate expenses and other unallocated charges	(3,297)		(3,183)		(12,089)		(7,640)
Income before income taxes	$	4,725	$	3,014	$	8,841	$	4,522

Reconciliation of Assets from Segment to Consolidated

The following table illustrates assets of the Company by segment:


	September 30, 2018		December 31, 2017
Rail Products and Services	$	171,183	$	192,038
Construction Products	92,996		83,154
Tubular and Energy Services	90,984		100,706
Unallocated corporate assets	15,383		20,658
Total	$	370,546	$	396,556

Revenue (Tables)

9 Months Ended

Sep. 30, 2018

Disaggregation of Revenue

The following table summarizes the Company's net sales by major product and service category:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
Rail Products	$	49,234	$	36,297	$	139,600	$	115,061
Rail Technologies	35,283		25,798		98,971		72,861
Rail Products and Services	84,517		62,095		238,571		187,922
Piling and Fabricated Bridge	26,798		24,186		71,505		83,016
Precast Concrete Products	14,736		14,932		41,136		38,889
Construction Products	41,534		39,118		112,641		121,905
Test, Inspection, and Threading	15,296		13,729		44,517		37,661
Protective Coatings and Measurement Solutions	25,747		16,550		66,709		47,566
Tubular and Energy Services	41,043		30,279		111,226		85,227
Total net sales	$	167,094	$	131,492	$	462,438	$	395,054

Net sales by the timing of the transfer of goods and services is as follows:


Three Months Ended September 30, 2018	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	61,426	$	27,459	$	33,474	$	122,359
Over time	23,091		14,075		7,569		44,735
Total net sales	$	84,517	$	41,534	$	41,043	$	167,094

Three Months Ended September 30, 2017	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	51,043	$	22,768	$	26,138	$	99,949
Over time	11,052		16,350		4,141		31,543
Total net sales	$	62,095	$	39,118	$	30,279	$	131,492


Nine Months Ended September 30, 2018	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	176,592	$	74,581	$	94,832	$	346,005
Over time	61,979		38,060		16,394		116,433
Total net sales	$	238,571	$	112,641	$	111,226	$	462,438

Nine Months Ended September 30, 2017	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	153,707	$	76,158	$	73,189	$	303,054
Over time	34,215		45,747		12,038		92,000
Total net sales	$	187,922	$	121,905	$	85,227	$	395,054

Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table presents the goodwill balance by reportable segment:


	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Balance as of December 31, 2017	$	14,638	$	5,147	$	—	$	19,785
Foreign currency translation impact	(336)		—		—		(336)
Balance as of September 30, 2018	$	14,302	$	5,147	$	—	$	19,449

Schedule of Finite-Lived Intangible Assets

The following table represents the gross balances of other intangible asset by reportable segment:


	September 30, 2018		December 31, 2017
Rail Products and Services*	$	57,151	$	57,654
Construction Products	1,348		1,348
Tubular and Energy Services	29,179		29,179
	$	87,678	$	88,181

* Gross balances include the impact of foreign currency translation adjustments.

Schedule of Intangible Assets

The components of the Company’s intangible assets were as follows:


	September 30, 2018
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	5	$	4,215	$	(3,757)	$	458
Patents	10	379		(172)		207
Customer relationships	18	37,333		(10,869)		26,464
Trademarks and trade names	14	10,057		(4,710)		5,347
Technology	14	35,694		(16,369)		19,325
		$	87,678	$	(35,877)	$	51,801

	December 31, 2017
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	5	$	4,238	$	(3,100)	$	1,138
Patents	10	389		(164)		225
Customer relationships	17	37,679		(9,171)		28,508
Trademarks and trade names	14	10,085		(4,091)		5,994
Technology	14	35,790		(14,215)		21,575
		$	88,181	$	(30,741)	$	57,440

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

As of September 30, 2018, estimated amortization expense for the remainder of 2018 and thereafter was as follows:


	Amortization Expense
Remainder of 2018	$	1,667
2019	6,262
2020	5,942
2021	5,923
2022	5,881
2023 and thereafter	26,126
	$	51,801

Inventories (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Inventory

Inventories as of September 30, 2018 and December 31, 2017 are summarized in the following table:


	September 30, 2018		December 31, 2017
Finished goods	$	55,988	$	55,846
Contract assets	27,796		25,320
Work-in-process	8,364		4,059
Raw materials	22,653		17,505
Total inventories at current costs	114,801		102,730
Less LIFO reserve	(7,601)		(5,187)
	$	107,200	$	97,543

Property, Plant and Equipment (Tables)

9 Months Ended

Sep. 30, 2018

Property, plant, and equipment as of September 30, 2018 and December 31, 2017 consisted of the following:


	September 30, 2018		December 31, 2017
Land	$	12,535	$	14,869
Improvements to land and leaseholds	17,482		17,415
Buildings	34,860		34,929
Machinery and equipment, including equipment under capitalized leases	120,671		120,806
Construction in progress	2,724		1,057
	188,272		189,076
Less accumulated depreciation and amortization, including accumulated amortization of capitalized leases	(100,378)		(92,980)
	$	87,894	$	96,096

Investments (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Variable Interest Entities

The carrying amounts with the Company’s maximum exposure to loss as of September 30, 2018 and December 31, 2017, respectively, were as follows:


	September 30, 2018		December 31, 2017
L B Pipe JV investment	$	—	$	3,875
Revolving line of credit	—		1,235
Net investment in direct financing lease	602		735
	$	602	$	5,845

Schedule of Direct Financing Future Minimum Lease Payments for Capital Leases

The following is a schedule as of September 30, 2018 of the direct financing minimum lease payments for the remainder of 2018 and the year 2019:


	Minimum Lease Payments
Remainder of 2018	$	35
2019	567

	$	602

Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Long-term Debt Instruments

Long-term debt consisted of the following:


	September 30, 2018		December 31, 2017
Revolving credit facility	$	75,401	$	128,470

Capital leases and financing agreements	1,069		1,496
Total	76,470		129,966
Less current maturities	(630)		(656)
Long-term portion	$	75,840	$	129,310

+ References

+ Details

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis


	Fair Value Measurements at Reporting Date														Fair Value Measurements at Reporting Date
	September 30, 2018		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		December 31, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Term deposits	$	17	$	17	$	—	$	—	$	17	$	17	$	—	$	—
Interest rate swaps	1,476		—		1,476		—		222		—		222		—
Total assets	$	1,493	$	17	$	1,476	$	—	$	239	$	17	$	222	$	—

Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Earnings Per Share, Basic and Diluted

(Share amounts in thousands)

The following table sets forth the computation of basic and diluted earnings per common share for the periods indicated:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
Numerator for basic and diluted earnings per common share:
Net income	$	4,971	$	3,222	$	7,889	$	3,824
Denominator:
Weighted average shares outstanding	10,365		10,341		10,361		10,332
Denominator for basic earnings per common share	10,365		10,341		10,361		10,332
Effect of dilutive securities:
Stock compensation plans	124		138		120		103
Dilutive potential common shares	124		138		120		103
Denominator for diluted earnings per common share - adjusted weighted average shares outstanding	10,489		10,479		10,481		10,435
Basic earnings per common share	$	0.48	$	0.31	$	0.76	$	0.37
Diluted earnings per common share	$	0.47	$	0.31	$	0.75	$	0.37

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Nonvested Share Activity

The following table summarizes the restricted stock award, deferred stock units, and performance share units activity for the nine months ended September 30, 2018:


	Restricted Stock	Deferred Stock Units	Performance Share Units	Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2017	186,806	26,860	181,341	$	16.53
Granted	62,320	14,914	65,421	27.05
Vested	(36,876)	—	—	28.07
Adjustment for incentive awards expected to vest	—	—	48,888	27.96
Cancelled and forfeited	(15,425)	—	(11,880)	16.73
Outstanding as of September 30, 2018	196,825	41,774	283,770	$	18.57

Retirement Plans (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Costs of Retirement Plans

The following table summarizes the expense associated with the contributions made to these plans:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
United States	$	766	$	415	$	2,080	$	1,276
Canada	23		53		91		167
United Kingdom	114		93		328		306
	$	903	$	561	$	2,499	$	1,749

Pension Plan | United States

Pension Plan | United Kingdom

Net periodic pension costs for the United States defined benefit pension plan for the three- and nine-month periods ended September 30, 2018 and 2017 were as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017

Interest cost	$	155	$	171	$	466	$	513
Expected return on plan assets	(213)		(178)		(640)		(533)
Recognized net actuarial loss	24		33		72		98
Net periodic pension (income) cost	$	(34)	$	26	$	(102)	$	78

Commitments and Contingencies Disclosure [Abstract]

Net periodic pension costs for the United Kingdom defined benefit pension plan for the three- and nine-month periods ended September 30, 2018 and 2017 were as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017
Interest cost	$	51	$	56	$	153	$	168
Expected return on plan assets	(70)		(67)		(210)		(201)
Amortization of prior service costs and transition amount	5		4		15		12
Recognized net actuarial loss	48		72		144		216
Net periodic pension cost	$	34	$	65	$	102	$	195

Commitments and Contingent Liabilities (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Product Warranty Liability

The following table sets forth the Company’s product warranty accrual:


	Warranty Liability
Balance as of December 31, 2017	$	8,682
Additions to warranty liability	1,452
Warranty liability utilized	(771)
Balance as of September 30, 2018	$	9,363

Environmental Loss Contingencies

The following table sets forth the Company’s environmental obligation:


	Environmental liability
Balance as of December 31, 2017	$	6,144
Additions to environmental obligations	53
Environmental obligations utilized	(60)
Balance as of September 30, 2018	$	6,137

Financial Statements (Narratives) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Reduction to retained earnings	$ (145,364)	$ (137,780)
Adjustments \| ASU2016-16
Reduction to retained earnings		$ 305

Business Segments (Reconciliation of Revenue from Segments to Consolidated) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting Information
Net Sales	$ 167,094	$ 131,492	$ 462,438	$ 395,054
Segment Profit (Loss)	11,176	9,118	27,837	19,485
Rail Products and Services
Segment Reporting Information
Net Sales	84,517	62,095	238,571	187,922
Segment Profit (Loss)	5,299	3,179	12,655	7,581
Construction Products
Segment Reporting Information
Net Sales	41,534	39,118	112,641	121,905
Segment Profit (Loss)	1,603	3,846	4,478	10,617
Tubular and Energy Services
Segment Reporting Information
Net Sales	41,043	30,279	111,226	85,227
Segment Profit (Loss)	$ 4,274	$ 2,093	$ 10,704	$ 1,287

Business Segments (Reconciliation of Operating Profit (Loss) from Segments to Consolidated) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting [Abstract]
Profit for reportable segments	$ 11,176	$ 9,118	$ 27,837	$ 19,485
Interest expense	(1,367)	(2,026)	(4,979)	(6,315)
Interest income	71	56	166	166
Other (expense) income	(153)	551	327	564
LIFO expense	(1,701)	(1,552)	(2,414)	(1,733)
Equity in (loss) income of nonconsolidated investments	(4)	50	(7)	(5)
Unallocated corporate expense and other unallocated charges	(3,297)	(3,183)	(12,089)	(7,640)
Income before income taxes	$ 4,725	$ 3,014	$ 8,841	$ 4,522

Business Segments (Reconciliation of Assets from Segment to Consolidated) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Segment Reporting Information
Assets	$ 370,546	$ 396,556
Operating Segments \| Rail Products and Services
Segment Reporting Information
Assets	171,183	192,038
Operating Segments \| Construction Products
Segment Reporting Information
Assets	92,996	83,154
Operating Segments \| Tubular and Energy Services
Segment Reporting Information
Assets	90,984	100,706
Unallocated corporate assets
Segment Reporting Information
Assets	$ 15,383	$ 20,658

Business Segments - Narratives (Details)	Dec. 31, 2017
Segment Reporting [Abstract]
Monthly allocation of corporate expenses	1.00%

Revenue (Narratives) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Revenue (Narratives) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Revenue remaining performance obligation	$ 251,617		$ 251,617
Disaggregation of Revenue
Revenue from contract with customer including assessed tax	167,094	$ 131,492	462,438	$ 395,054
Contract with customer, assets	27,796		27,796		$ 25,320
Contract with customer, liability	$ 2,423		2,423		$ 1,420
Contract assets transferred to receivables			14,528
Revenue recognized from contract liability			1,146
Cash proceeds from liability contract			$ 1,754
Over time
Disaggregation of Revenue
Customer revenue transferred over-time (percentage)	26.80%	24.00%	25.20%	23.30%
Revenue from contract with customer including assessed tax	$ 44,735	$ 31,543	$ 116,433	$ 92,000
Over time \| Performance Based
Disaggregation of Revenue
Revenue from contract with customer including assessed tax	33,225	20,447	87,369	61,892
Over time \| Delivery Based
Disaggregation of Revenue
Revenue from contract with customer including assessed tax	$ 11,510	$ 11,096	$ 29,064	$ 30,108
Point in time
Disaggregation of Revenue
Customer revenue transferred over-time (percentage)	73.20%	76.00%	74.80%	76.70%
Revenue from contract with customer including assessed tax	$ 122,359	$ 99,949	$ 346,005	$ 303,054
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Revenue remaining performance obligation (percentage)	10.00%		10.00%
Performance obligations expected to be satisfied, expected timing			1 year

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Revenue (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue
Total net sales	$ 167,094	$ 131,492	$ 462,438	$ 395,054
Rail Products and Services
Disaggregation of Revenue
Total net sales	84,517	62,095	238,571	187,922
Rail Products and Services \| Rail Products
Disaggregation of Revenue
Total net sales	49,234	36,297	139,600	115,061
Rail Products and Services \| Rail Technologies
Disaggregation of Revenue
Total net sales	35,283	25,798	98,971	72,861
Construction Products
Disaggregation of Revenue
Total net sales	41,534	39,118	112,641	121,905
Construction Products \| Piling and Fabricated Bridge
Disaggregation of Revenue
Total net sales	26,798	24,186	71,505	83,016
Construction Products \| Precast Concrete Products
Disaggregation of Revenue
Total net sales	14,736	14,932	41,136	38,889
Tubular and Energy Services
Disaggregation of Revenue
Total net sales	41,043	30,279	111,226	85,227
Tubular and Energy Services \| Test Inspection and Threading
Disaggregation of Revenue
Total net sales	15,296	13,729	44,517	37,661
Tubular and Energy Services \| Protective Coating and Measurements Solutions
Disaggregation of Revenue
Total net sales	$ 25,747	$ 16,550	$ 66,709	$ 47,566

Revenue (Timing of Transfer) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue
Total net sales	$ 167,094	$ 131,492	$ 462,438	$ 395,054
Point in time
Disaggregation of Revenue
Total net sales	122,359	99,949	346,005	303,054
Over time
Disaggregation of Revenue
Total net sales	44,735	31,543	116,433	92,000
Rail Products and Services
Disaggregation of Revenue
Total net sales	84,517	62,095	238,571	187,922
Rail Products and Services \| Point in time
Disaggregation of Revenue
Total net sales	61,426	51,043	176,592	153,707
Rail Products and Services \| Over time
Disaggregation of Revenue
Total net sales	23,091	11,052	61,979	34,215
Construction Products
Disaggregation of Revenue
Total net sales	41,534	39,118	112,641	121,905
Construction Products \| Point in time
Disaggregation of Revenue
Total net sales	27,459	22,768	74,581	76,158
Construction Products \| Over time
Disaggregation of Revenue
Total net sales	14,075	16,350	38,060	45,747
Tubular and Energy Services
Disaggregation of Revenue
Total net sales	41,043	30,279	111,226	85,227
Tubular and Energy Services \| Point in time
Disaggregation of Revenue
Total net sales	33,474	26,138	94,832	73,189
Tubular and Energy Services \| Over time
Disaggregation of Revenue
Total net sales	$ 7,569	$ 4,141	$ 16,394	$ 12,038

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Amortization expense	$ 1,762	$ 1,764	$ 5,322	$ 5,218
Minimum
Finite lived intangible asset, useful life			4 years
Maximum
Finite lived intangible asset, useful life			25 years
Weighted Average
Finite lived intangible asset, useful life			15 years

Goodwill and Other Intangible Assets (Schedule of Goodwill) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2018 USD ($)
Goodwill
Goodwill, beginning balance	$ 19,785
Foreign currency translation impact	(336)
Goodwill, ending balance	19,449
Rail Products and Services
Goodwill
Goodwill, beginning balance	14,638
Foreign currency translation impact	(336)
Goodwill, ending balance	14,302
Construction Products
Goodwill
Goodwill, beginning balance	5,147
Foreign currency translation impact	0
Goodwill, ending balance	5,147
Tubular and Energy Services
Goodwill
Goodwill, beginning balance	0
Foreign currency translation impact	0
Goodwill, ending balance	$ 0

Goodwill and Other Intangible Assets (Schedule of Gross Other Intangible Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Gross intangible assets balance by reportable segment	$ 87,678	$ 88,181
Rail Products and Services
Gross intangible assets balance by reportable segment	57,151	57,654
Construction Products
Gross intangible assets balance by reportable segment	1,348	1,348
Tubular and Energy Services
Gross intangible assets balance by reportable segment	$ 29,179	$ 29,179

Goodwill and Other Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets
Gross Carrying Value	$ 87,678	$ 88,181
Accumulated Amortization	(35,877)	(30,741)
Net Carrying Amount	51,801	57,440
Non-compete agreements
Finite-Lived Intangible Assets
Gross Carrying Value	4,215	4,238
Accumulated Amortization	(3,757)	(3,100)
Net Carrying Amount	458	1,138
Patents
Finite-Lived Intangible Assets
Gross Carrying Value	379	389
Accumulated Amortization	(172)	(164)
Net Carrying Amount	207	225
Customer relationships
Finite-Lived Intangible Assets
Gross Carrying Value	37,333	37,679
Accumulated Amortization	(10,869)	(9,171)
Net Carrying Amount	26,464	28,508
Trademarks and trade names
Finite-Lived Intangible Assets
Gross Carrying Value	10,057	10,085
Accumulated Amortization	(4,710)	(4,091)
Net Carrying Amount	5,347	5,994
Technology
Finite-Lived Intangible Assets
Gross Carrying Value	35,694	35,790
Accumulated Amortization	(16,369)	(14,215)
Net Carrying Amount	$ 19,325	$ 21,575
Weighted Average
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	15 years
Weighted Average \| Non-compete agreements
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	5 years	5 years
Weighted Average \| Patents
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	10 years	10 years
Weighted Average \| Customer relationships
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	18 years	17 years
Weighted Average \| Trademarks and trade names
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	14 years	14 years
Weighted Average \| Technology
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	14 years	14 years

Goodwill and Other Intangible Assets (Schedule of Expected Amortization Expense) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2018	$ 1,667
2019	6,262
2020	5,942
2021	5,923
2022	5,881
2023 and thereafter	26,126
Net Carrying Amount	$ 51,801	$ 57,440

Accounts Receivable (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Accounts Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Accounts Receivable Additional Disclosures [Abstract]
Allowance doubtful accounts, receivables	$ 1,297		$ 1,297		$ 2,151
Reserve for uncollectable accounts	$ (268)	$ 208	$ (987)	$ 737

Inventories (Schedule of Inventory) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Finished goods	$ 55,988	$ 55,846
Contract assets	27,796	25,320
Work-in-process	8,364	4,059
Raw materials	22,653	17,505
Total inventories at current costs	114,801	102,730
Less LIFO reserve	(7,601)	(5,187)
Inventory	$ 107,200	$ 97,543

Property, Plant and Equipment (Details)	3 Months Ended		9 Months Ended
Property, Plant and Equipment (Details)	Sep. 30, 2018 USD ($) a	Sep. 30, 2017 USD ($)	Sep. 30, 2018 USD ($) a	Sep. 30, 2017 USD ($)	Dec. 31, 2017 USD ($)
Property, Plant and Equipment
Property, plant and equipment - gross	$ 188,272,000		$ 188,272,000		$ 189,076,000
Less accumulated depreciation and amortization, including accumulated amortization of capitalized leases	(100,378,000)		(100,378,000)		(92,980,000)
Total property, plant and equipment, net	87,894,000		87,894,000		96,096,000
Depreciation	2,803,000	$ 3,178,000	8,685,000	$ 9,705,000
Asset impairment charge			0	0
Proceeds from the sale of property, plant, and equipment			2,267,000	$ 1,388,000
Land
Property, Plant and Equipment
Property, plant and equipment - gross	$ 12,535,000		$ 12,535,000		14,869,000
Area of land (in acres) \| a	54.5		54.5
Proceeds from the sale of property, plant, and equipment			$ 2,047,000
Loss on sale			269,000
Improvements to land and leaseholds
Property, Plant and Equipment
Property, plant and equipment - gross	$ 17,482,000		17,482,000		17,415,000
Buildings
Property, Plant and Equipment
Property, plant and equipment - gross	34,860,000		34,860,000		34,929,000
Machinery and equipment, including equipment under capitalized leases
Property, Plant and Equipment
Property, plant and equipment - gross	120,671,000		120,671,000		120,806,000
Construction in progress
Property, Plant and Equipment
Property, plant and equipment - gross	$ 2,724,000		$ 2,724,000		$ 1,057,000

Investments (Narrative) (Details) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
Investments (Narrative) (Details) $ in Thousands	Aug. 01, 2018 USD ($)	Sep. 30, 2018 USD ($) a facility	Sep. 30, 2017 USD ($)	Sep. 30, 2018 USD ($) a facility	Sep. 30, 2017 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Schedule of Equity Method Investments
Equity investments		$ 155		$ 155		$ 162
Assets held for sale			$ 3,875		$ 3,875
Proceeds from sale of equity method investments				3,875	0
Repayment of revolving line of credit from equity method investment				1,235	0
Equity in income (loss) of nonconsolidated investments		(4)	50	(7)	(5)
Reclassified
Schedule of Equity Method Investments
Equity investments			$ (4,288)		$ (4,288)
LB Pipe & Coupling Products, LLC
Schedule of Equity Method Investments
Equity method investment, ownership percentage	45.00%		45.00%		45.00%
Other than temporary impairment of equity method investment						413
Proceeds from sale of equity method investments	$ 3,875
Repayment of revolving line of credit from equity method investment	1,235
Equity in income (loss) of nonconsolidated investments		$ 0	$ 434	$ 0	$ 386
Interest income	$ 159
Line of credit, maximum lending capacity							$ 1,350
Due from joint ventures, current							$ 1,235
LB Pipe & Coupling Products, LLC \| Capital leased land
Schedule of Equity Method Investments
Area of land (in acres) \| a		5		5
Capital leased assets, number of units \| facility		2		2
Capital leases, monthly rent				$ 17
Capital leases balloon payment in direct financing leases		$ 488		488
LB Pipe & Coupling Products, LLC \| Other Joint Venture
Schedule of Equity Method Investments
Equity method investment, ownership percentage							45.00%
LB Pipe & Coupling Products, LLC \| Third Party
Schedule of Equity Method Investments
Equity method investment, ownership percentage			45.00%		45.00%
Other equity investments
Schedule of Equity Method Investments
Equity investments		$ 155		$ 155		$ 162

Investments (Schedule of Variable Interest Entities) (Details) - LB Pipe & Coupling Products, LLC - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Schedule of Equity Method Investments
Maximum exposure to loss	$ 602	$ 5,845
LB Pipe JV investments
Schedule of Equity Method Investments
Maximum exposure to loss	0	3,875
Revolving line of credit
Schedule of Equity Method Investments
Maximum exposure to loss	0	1,235
Net Investment In direct financing lease
Schedule of Equity Method Investments
Maximum exposure to loss	$ 602	$ 735

Investments (Schedule of Direct Financing Future Minimum Lease Payments for Capital Leases) (Details) $ in Thousands	Sep. 30, 2018 USD ($)
Investments [Abstract]
Remainder of 2018	$ 35
2019	567
Total future capital lease receivable	$ 602

Long-Term Debt (Schedule of Long-term Debt Instruments) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Revolving credit facility	$ 75,401	$ 128,470
Capital leases and financing agreements	1,069	1,496
Total	76,470	129,966
Less current maturities	(630)	(656)
Long-term debt	$ 75,840	$ 129,310

Long-Term Debt (Narrative - North America) (Details)				3 Months Ended		9 Months Ended
Long-Term Debt (Narrative - North America) (Details)	Jun. 30, 2018 USD ($)	Nov. 07, 2016 USD ($)	Jun. 29, 2016 USD ($)	Jun. 30, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2017 USD ($)
Line of Credit Facility
Line of credit facility, amount outstanding					$ 128,470,000	$ 75,401,000
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company
Line of Credit Facility
Line of credit facility, maximum borrowing capacity		$ 195,000,000	$ 275,000,000
Term loan		$ 30,000,000
Leverage ratio in seventh quarter		4.25
Leverage ratio in effect for the eighth quarter and remainder of a credit agreement		3.75
EBITDA required							$ 18,500,000
EBITDA required for seventh quarter	$ 31,000,000
Fixed charge coverage ratio					1.00
Fixed charge coverage ratio after fifth quarter						1.25
Liquidity covenant				$ 25,000,000
Maximum dividends allowed		$ 1,700,000	4,000,000
Loans and advances limit		5,000,000	10,000,000
Maximum asset sales allowed		25,000,000	25,000,000
Carryover of asset sales allowed		$ 15,000,000	$ 15,000,000
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| Euro-rate
Line of Credit Facility
Debt instrument, basis spread on variable rate		3.25%
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| Euro-rate \| Lowest Tier
Line of Credit Facility
Debt instrument, basis spread on variable rate		2.50%
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| Base Rate
Line of Credit Facility
Debt instrument, basis spread on variable rate		2.25%
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| Base Rate \| Lowest Tier
Line of Credit Facility
Debt instrument, basis spread on variable rate		1.50%
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| Revolving Credit Facility
Line of Credit Facility
Line of credit facility, amount outstanding						$ 425,000
Line of credit facility, current borrowing capacity						$ 119,174,000

Long-Term Debt (Narrative - United Kingdom) (Details)	9 Months Ended
Long-Term Debt (Narrative - United Kingdom) (Details)	Sep. 30, 2018 GBP (£)	Sep. 30, 2018 USD ($)	Dec. 31, 2017 USD ($)
Line of Credit Facility
Line of credit facility, amount outstanding		$ 75,401,000	$ 128,470,000
Foreign Line of Credit \| Natwest Bank
Line of Credit Facility
Line of credit facility, maximum borrowing capacity	£ 1,500,000	1,955,000
Line of credit facility, amount outstanding		0
Line of credit facility, current borrowing capacity		1,636,000
Foreign Line of Credit \| Natwest Bank \| Base Rate
Line of Credit Facility
Debt instrument, basis spread on variable rate	2.50%
Foreign Line of Credit \| Natwest Bank Outstanding Guarantees
Line of Credit Facility
Line of credit facility, amount outstanding		$ 319,000