View Filing Data

Print Document View Excel Document

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2020	Jul. 29, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Commission File Number	000-10436
Entity Registrant Name	FOSTER L B CO
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	25-1324733
Entity Address, Street Name	415 Holiday Drive
Entity Address, Suite	Suite 100
Entity Address, City	Pittsburgh
Entity Address, State	PA
Entity Address, Postal Zip Code	15220
City Area Code	412
Local Phone Number	928-3400
Title of each class	Common stock, par value $0.01
Trading Symbol	FSTR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,738,099
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000352825
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 7,387	$ 14,178
Accounts receivable - net (Note 5)	82,537	78,575
Inventories - net (Note 6)	113,724	119,301
Other current assets	7,168	4,610
Total current assets	210,816	216,664
Property, plant, and equipment - net (Note 7)	79,669	82,314
Operating lease right-of-use assets - net (Note 8)	17,665	13,274
Other assets:
Goodwill (Note 4)	18,974	19,565
Other intangibles - net (Note 4)	40,158	43,514
Deferred tax assets (Note 15)	28,832	28,638
Other assets	1,250	1,202
TOTAL ASSETS	397,364	405,171
Current liabilities:
Accounts payable	71,475	66,361
Deferred revenue	8,517	8,446
Accrued payroll and employee benefits	9,796	14,096
Current portion of accrued settlement (Note 14)	8,000	8,000
Current maturities of long-term debt (Note 9)	142	2,905
Other accrued liabilities	15,193	16,936
Total current liabilities	113,123	116,744
Long-term debt (Note 9)	55,426	55,288
Deferred tax liabilities (Note 15)	4,593	4,751
Long-term portion of accrued settlement (Note 14)	30,000	32,000
Long-term operating lease liabilities (Note 8)	14,637	10,268
Other long-term liabilities	15,689	16,258
Stockholders’ equity:
Common stock, par value $0.01, authorized 20,000,000 shares; shares issued at June 30, 2020 and December 31, 2019, 11,115,779; shares outstanding at June 30, 2020 and December 31, 2019, 10,562,396 and 10,422,091, respectively	111	111
Paid-in capital	44,709	49,204
Retained earnings	156,182	157,525
Treasury stock - at cost, 553,383 and 693,688 common stock shares at June 30, 2020 and December 31, 2019, respectively	(12,722)	(16,795)
Accumulated other comprehensive loss	(24,384)	(20,183)
Total stockholders’ equity	163,896	169,862
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 397,364	$ 405,171

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, issued (in shares)	11,115,779	11,115,779
Common stock, shares outstanding (in shares)	10,562,396	10,422,091
Treasury stock shares - at cost, common stock (in shares)	553,383	693,688

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Total net sales	$ 145,766	$ 200,933	$ 274,541	$ 351,402
Total cost of sales	118,713	163,805	225,831	285,112
Gross profit	27,053	37,128	48,710	66,290
Selling and administrative expenses	19,562	22,855	40,887	44,772
Amortization expense	1,446	1,679	2,909	3,391
Interest expense - net	1,090	1,597	1,907	2,952
Other expense (income) - net	3,339	(252)	4,085	(402)
Income (loss) before income taxes	1,616	11,249	(1,078)	15,577
Income tax expense	1,093	1,685	265	2,323
Net income (loss)	$ 523	$ 9,564	$ (1,343)	$ 13,254
Basic earnings per common share (usd per share)	$ 0.05	$ 0.92	$ (0.13)	$ 1.27
Diluted earnings per common share (usd per share)	$ 0.05	$ 0.90	$ (0.13)	$ 1.25
Product
Total net sales	$ 123,300	$ 160,227	$ 220,185	$ 273,310
Total cost of sales	100,488	132,438	181,314	224,769
Service
Total net sales	22,466	40,706	54,356	78,092
Total cost of sales	$ 18,225	$ 31,367	$ 44,517	$ 60,343

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

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Statement of Comprehensive Income [Abstract]

Net income (loss)

$ 523

$ 9,564

$ (1,343)

$ 13,254

Other comprehensive income (loss), net of tax:

Foreign currency translation adjustment

181

(675)

(3,526)

378

Unrealized gain (loss) on cash flow hedges, net of tax expense (benefit) of $19, $0, $(277), and $0 respectively

(1,132)

(809)

(1,158)

Reclassification of pension liability adjustments to earnings, net of tax expense of $31, $0, $55, and $0 respectively*

^[1]

134

185

Other comprehensive income (loss)

312

(1,715)

(4,201)

(595)

Comprehensive income (loss)

$ 835

$ 7,849

$ (5,544)

$ 12,659

[1]	Reclassifications out of Accumulated other comprehensive loss for pension obligations are charged to Selling and administrative expenses within the Condensed Consolidated Statements of Operations.

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669625-108580

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=121586364&loc=d3e3602-108585

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794

+ Details

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Unrealized gain (loss) on cash flow hedge, tax	$ 19	$ 0	$ (277)	$ 0
Reclassification of pension liability adjustments to earnings, tax	$ 31	$ 0	$ 55	$ 0

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (1,343)	$ 13,254
Adjustments to reconcile net (loss) income to cash provided by (used in) operating activities:
Deferred income taxes	(54)	(401)
Depreciation	5,320	5,540
Amortization	2,909	3,391
Asset impairments	3,847	0
Equity in income of nonconsolidated investments	0	(21)
Loss (gain) on sales and disposals of property, plant, and equipment	236	(7)
Stock-based compensation	1,238	2,034
Change in operating assets and liabilities:
Accounts receivable	(4,493)	(12,402)
Inventories	3,400	(9,842)
Other current assets	(2,486)	(612)
Prepaid income tax	(958)	(3,077)
Other noncurrent assets	(4,421)	(490)
Accounts payable	8,061	895
Deferred revenue	151	1,940
Accrued payroll and employee benefits	(4,182)	(2,487)
Accrued settlement	(2,000)	(4,000)
Other current liabilities	(3,069)	(1,933)
Other long-term liabilities	3,992	(1,211)
Net cash provided by (used in) operating activities	6,148	(9,429)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from the sale of property, plant, and equipment	11	76
Capital expenditures on property, plant, and equipment	(7,433)	(3,848)
Net cash used in investing activities	(7,422)	(3,772)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of debt	(86,359)	(97,269)
Proceeds from debt	83,748	113,402
Debt issuance costs	(418)	(836)
Treasury stock acquisitions	(1,660)	(591)
Net cash (used in) provided by financing activities	(4,689)	14,706
Effect of exchange rate changes on cash and cash equivalents	(828)	214
Net (decrease) increase in cash and cash equivalents	(6,791)	1,719
Cash and cash equivalents at beginning of period	14,178	10,282
Cash and cash equivalents at end of period	7,387	12,001
Supplemental disclosure of cash flow information:
Interest paid	1,504	2,492
Income taxes paid	$ 1,327	$ 5,395

Condensed Consolidated Statements Of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Paid-in Capital	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Cumulative Effect, Period of Adoption, Adjustment
Increase (Decrease) in Stockholders' Equity
Adjustment to adopt ASU 2018-02		$ 0				$ 633			$ (633)
Beginning balance at Dec. 31, 2018	$ 122,119		$ 111	$ 48,040	$ 114,324		$ (18,165)	$ (22,191)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	13,254				13,254
Other comprehensive income, net of tax:
Pension liability adjustment	185							185
Foreign currency translation adjustment	378							378
Unrealized derivative loss on cash flow hedges	(1,158)							(1,158)
Issuance of common shares, net of share withheld for taxes	(591)			(1,915)			1,324
Stock-based compensation	2,034		0	2,034	0		0	0
Ending balance at Jun. 30, 2019	136,221		111	48,159	128,211		(16,841)	(23,419)
Beginning balance at Mar. 31, 2019	127,258		111	47,400	118,647		(17,196)	(21,704)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	9,564				9,564
Other comprehensive income, net of tax:
Pension liability adjustment	92							92
Foreign currency translation adjustment	(675)							(675)
Unrealized derivative loss on cash flow hedges	(1,132)							(1,132)
Issuance of common shares, net of share withheld for taxes	(65)			(420)			355
Stock-based compensation	1,179			1,179
Ending balance at Jun. 30, 2019	136,221		111	48,159	128,211		(16,841)	(23,419)
Beginning balance at Dec. 31, 2019	169,862		111	49,204	157,525		(16,795)	(20,183)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(1,343)				(1,343)
Other comprehensive income, net of tax:
Pension liability adjustment	134							134
Foreign currency translation adjustment	(3,526)							(3,526)
Unrealized derivative loss on cash flow hedges	(809)							(809)
Issuance of common shares, net of share withheld for taxes	(1,660)			(5,733)			4,073
Stock-based compensation	1,238		0	1,238	0		0	0
Ending balance at Jun. 30, 2020	163,896		111	44,709	156,182		(12,722)	(24,384)
Beginning balance at Mar. 31, 2020	162,506		111	44,328	155,659		(12,896)	(24,696)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	523				523
Other comprehensive income, net of tax:
Pension liability adjustment	76							76
Foreign currency translation adjustment	181							181
Unrealized derivative loss on cash flow hedges	55							55
Issuance of common shares, net of share withheld for taxes	(3)			(177)			174
Stock-based compensation	558			558
Ending balance at Jun. 30, 2020	$ 163,896		$ 111	$ 44,709	$ 156,182		$ (12,722)	$ (24,384)

Condensed Consolidated Statements Of Stockholders' Equity (Unaudited) (Parentheticals) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Stockholders' Equity [Abstract]
Shares issued (in shares)	9,217	15,745	140,305	54,085

Financial Statements	6 Months Ended
Financial Statements	Jun. 30, 2020
Accounting Policies [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 June 30, 2020 and December 31, 2019, its Condensed Consolidated Statements of Operations, Condensed Consolidated Statements of Comprehensive Income (Loss), and its Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 30, 2020 and 2019, and its Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2020 and 2019, 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, 2020. The Condensed Consolidated Balance Sheet as of December 31, 2019 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 L.B. Foster Company’s Annual Report on Form 10-K for the year ended December 31, 2019. 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 March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. (“ASU”) 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (“ASU 2020-04”), which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by the discontinuation of the London Interbank Offered Rate (“LIBOR”) or by another reference rate expected to be discontinued. The amendments are effective for all entities as of March 12, 2020 through December 31, 2022. We are currently evaluating the impacts of the provisions of ASU 2020-04 on our financial condition, results of operations, and cash flows. Recently Adopted Accounting Standards In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 added a new impairment model (known as the current expected credit loss (“CECL”) model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses and presents financial assets measured at amortized cost basis at the net amount expected to be collected upon inception. The CECL model applies to trade receivables, other receivables, and most debt instruments. The CECL model does not have a minimum threshold for recognition of impairment losses, and entities must measure expected credit losses on assets that have a low risk of loss. The Company adopted the provisions of ASU 2016-13 on January 1, 2020, using the modified retrospective approach as of the beginning of the period of adoption. In accordance with the standard, the Company evaluated its allowance for credit losses for trade receivables and contract assets, the only assets held by the Company that were impacted by the scope of the standard. The adoption of ASU 2016-13 had no material effect on the Company’s financial position or results of operations, and no adjustment to January 1, 2020 Retained earnings was recorded. The Company has presented the disclosures required by this new standard in Note 5 Accounts Receivable and Note 6 Inventory. In August 2018, the FASB issued ASU 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software” (“ASU 2018-15”). ASU 2018-15 requires capitalization of certain implementation costs incurred in a cloud computing arrangement that qualifies as a service contract. The amendments in ASU 2018-15 are effective for fiscal years beginning after December 15, 2019 and for interim periods therein with early adoption permitted. The adoption of ASU 2018-15 had no impact on the Company’s consolidated financial statements and related disclosures.

Business Segments

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Business Segments

Business Segments The Company is a leading manufacturer and distributor of products and provider of 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 are the same as those

described in Note 2. Business Segments of the Notes to the Company's Consolidated Financial Statements contained in its Annual Report on Form 10-K for the year-ended December 31, 2019.

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


	Three Months Ended June 30, 2020						Three Months Ended June 30, 2019
	Net Sales		Segment Profit (Loss)		Net Sales		Segment Profit
Rail Products and Services	$	74,939	$	5,816	$	101,401	$	7,919
Construction Products	42,008		1,506		55,406		3,413
Tubular and Energy Services	28,819		(4,105)		44,126		5,019
Total	$	145,766	$	3,217	$	200,933	$	16,351

	Six Months Ended June 30, 2020						Six Months Ended June 30, 2019
	Net Sales		Segment Profit (Loss)		Net Sales		Segment Profit
Rail Products and Services	$	145,143	$	6,987	$	177,095	$	11,398
Construction Products	71,042		(133)		92,751		4,247
Tubular and Energy Services	58,356		(3,493)		81,556		9,707
Total	$	274,541	$	3,361	$	351,402	$	25,352

Segment profit (loss) from operations, as shown above, includes allocated corporate operating expenses. Operating expenses related to corporate headquarter functions that directly support the segment activity are allocated based on segment headcount, revenue contribution, or activity of the business units within the segments, based on the corporate activity type provided to the segment. The expense allocation excludes certain corporate costs that are separately managed from the segments.

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Profit for reportable segments	$	3,217	$	16,351	$	3,361	$	25,352
Interest expense - net	(1,090)		(1,597)		(1,907)		(2,952)

Other income - net	2,292		252		2,427		402


Unallocated corporate expenses and other unallocated charges	(2,803)		(3,757)		(4,959)		(7,225)
Income (loss) before income taxes	$	1,616	$	11,249	$	(1,078)	$	15,577

The following table illustrates assets of the Company by segment:


	June 30, 2020		December 31, 2019
Rail Products and Services	$	171,806	$	186,323
Construction Products	99,894		83,049
Tubular and Energy Services	71,157		77,320
Unallocated corporate assets	54,507		58,479
Total	$	397,364	$	405,171

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Revenue

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue

RevenueRevenue from products or services provided to customers over time accounted for 24.4% and 24.2% of revenue for the three months ended June 30, 2020 and 2019, respectively, and 24.9% and 25.7% of revenue for the six months ended June 30, 2020 and 2019, 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 $24,858 and $34,984 for the three months ended June 30, 2020 and 2019, respectively, and $49,290 and $66,821 for the six months ended June 30, 2020

and 2019, 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 $10,688 and $13,611 for the three months ended June 30, 2020 and 2019, respectively, and $19,033 and $23,522 for the six months ended June 30, 2020 and 2019, respectively. As of June 30, 2020 and December 31, 2019, the Company had contract assets of $33,606 and $37,032, respectively, that were recorded in “Inventories - net” within the Condensed Consolidated Balance Sheets. As of June 30, 2020 and December 31, 2019, the Company had contract liabilities of $4,967 and $4,472, respectively, that were recorded in “Deferred revenue” within the Condensed Consolidated Balance Sheets.

The majority of the Company’s revenue is from products transferred and services rendered to customers at a point in time. Point in time revenue accounted for 75.6% and 75.8% of revenue for the three months ended June 30, 2020 and 2019, respectively, and 75.1% and 74.3% of revenue for the six months ended June 30, 2020 and 2019, respectively. The Company recognizes revenue at the point in time at which the customer obtains control of the product or service, which is generally when the 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 physical location.

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Rail Products	$	52,206	$	67,990	$	95,768	$	114,196
Rail Technologies	22,733		33,411		49,375		62,899
Rail Products and Services	74,939		101,401		145,143		177,095
Piling and Fabricated Bridge	25,580		37,588		43,971		61,320
Precast Concrete Products	16,428		17,818		27,071		31,431
Construction Products	42,008		55,406		71,042		92,751
Test, Inspection, and Threading Services	8,673		13,804		18,377		28,528
Protective Coatings and Measurement Systems	20,146		30,322		39,979		53,028
Tubular and Energy Services	28,819		44,126		58,356		81,556
Total net sales	$	145,766	$	200,933	$	274,541	$	351,402

Net sales by the timing of the transfer of products and services was as follows:


	Three Months Ended June 30, 2020
	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	61,275	$	28,148	$	20,797	$	110,220
Over time	13,664		13,860		8,022		35,546
Total net sales	$	74,939	$	42,008	$	28,819	$	145,766

	Three Months Ended June 30, 2019
	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	80,701	$	38,095	$	33,542	$	152,338
Over time	20,700		17,311		10,584		48,595
Total net sales	$	101,401	$	55,406	$	44,126	$	200,933


	Six Months Ended June 30, 2020
	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	116,163	$	45,031	$	45,024	$	206,218
Over time	28,980		26,011		13,332		68,323
Total net sales	$	145,143	$	71,042	$	58,356	$	274,541

	Six Months Ended June 30, 2019
	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	137,193	$	61,190	$	62,676	$	261,059
Over time	39,902		31,561		18,880		90,343
Total net sales	$	177,095	$	92,751	$	81,556	$	351,402

The timing of revenue recognition, billings, and cash collections results in billed receivables, costs in excess of billings (contract assets, included in “Inventories - net”), 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 six months ended June 30, 2020 resulted from transfers of $20,628 from the December 31, 2019 contract assets balance to receivables. Significant changes in contract liabilities during the six months ended June 30, 2020 resulted from increases of $2,751 due to billings in excess of costs, excluding amounts recognized as revenue during the period. Contract liabilities were reduced due to revenue recognized during the three months ended June 30, 2020 and 2019 of $1,237 and $318, respectively, and reductions due to revenue recognized during the six months ended June 30, 2020 and 2019 of $3,851 and $1,266, respectively, which were included in the contract liabilities at the beginning of each period.

As of June 30, 2020, the Company had approximately $225,897 of remaining performance obligations, which is also referred to as backlog. Approximately 11.9% of the June 30, 2020 backlog was related to projects that are anticipated to extend beyond June 30, 2021.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

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, 2019	$	14,418	$	5,147	$	—	$	19,565
Foreign currency translation impact	(591)		—		—		(591)
Balance as of June 30, 2020	$	13,827	$	5,147	$	—	$	18,974

The Company performs goodwill impairment tests annually during the fourth quarter, and also performs interim goodwill impairment tests if it is determined that it is more likely than not that the fair value of a reporting unit is less than the carrying amount. Qualitative factors are assessed to determine whether it is more likely than not that the fair value of a reporting unit is less than the carrying amount, which included the impacts of COVID-19. However, the future impacts of COVID-19 are unpredictable and are subject to change. No interim goodwill impairment test was required as a result of the evaluation of qualitative factors as of June 30, 2020.

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


	June 30, 2020
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	5	$	44	$	(41)	$	3
Patents	10	358		(186)		172
Customer relationships	18	36,829		(14,791)		22,038
Trademarks and trade names	16	7,734		(3,807)		3,927
Technology	14	35,563		(21,545)		14,018
		$	80,528	$	(40,370)	$	40,158

	December 31, 2019
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	4	$	1,272	$	(1,259)	$	13
Patents	10	377		(188)		189
Customer relationships	18	37,498		(13,945)		23,553
Trademarks and trade names	16	7,787		(3,551)		4,236
Technology	13	35,728		(20,205)		15,523
		$	82,662	$	(39,148)	$	43,514

The Company amortizes intangible assets over their useful lives, which range from 5 to 25 years, with a total weighted average amortization period of approximately 16 years as of June 30, 2020. Amortization expense was $1,446 and $1,679 for the three months ended June 30, 2020 and 2019, respectively, and $2,909 and $3,391 for the six months ended June 30, 2020 and 2019, respectively. During the six months ended June 30, 2020, certain fully amortized intangible assets of $1,186 related to non-compete agreements were eliminated from gross intangible assets and accumulated amortization.

As of June 30, 2020, estimated amortization expense for the remainder of 2020 and thereafter was as follows:


	Amortization Expense
Remainder of 2020	$	2,907
2021	5,784
2022	5,700
2023	5,229
2024	4,209
2025 and thereafter	16,329
	$	40,158

Accounts Receivable	6 Months Ended
Accounts Receivable	Jun. 30, 2020
Accounts Receivable Additional Disclosures [Abstract]
Accounts Receivable	Accounts Receivable The Company extends credit 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 June 30, 2020 and December 31, 2019 have been reduced by an allowance for doubtful accounts of $1,393 and $1,100, respectively. Changes in reserves for uncollectable accounts, which are recorded as part of “Selling and administrative expenses” in the Condensed Consolidated Statements of Operations, resulted in expense of $198 and $4 for the three months ended June 30, 2020 and 2019, respectively, and expense of $362 and $104 for the six months ended June 30, 2020 and 2019, respectively. On January 1, 2020, the Company adopted ASU 2016-13 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 2016-13 were applied to assets held as of January 1, 2020. In accordance with adoption of the new standard, the Company evaluated and revised its policies surrounding the allowance for credit losses for trade receivables. The Company established the allowance for credit losses by calculating the amount to reserve based on the age of a given trade receivable and considering historical collection patterns and bad debt expense experience, in addition to any other relevant subjective adjustments to individual receivables made by management. The Company also considered current and expected future market and other conditions. Trade receivables are pooled within the calculation based on a range of ages, which appropriately groups receivables of similar credit risk together. The established reserve thresholds to calculate the allowance for credit loss are based on and supported by historic collection patterns and bad debt expense incurred by the Company, as well as the expectation that collection patterns and bad debt expense will continue to adhere to patterns observed in recent years, which was formed based on trends observed as well as current and expected future conditions. Management maintains high-quality credit review practices as well as positive customer relationships that further mitigate credit risk. Management monitors and reviews the contributing factors to our reserve, and makes any appropriate revisions as they become necessary. The Company’s adoption of ASU 2016-13 did not require material changes to the allowance for credit losses and no adjustment was recorded to opening retained earnings as of January 1, 2020.

Inventory

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Inventory

Inventories as of June 30, 2020 and December 31, 2019 are summarized in the following table:


	June 30, 2020		December 31, 2019
Finished goods	$	56,923	$	59,864
Contract assets	33,606		37,032
Work-in-process	4,751		3,728
Raw materials	18,444		18,677
Inventories - net	$	113,724	$	119,301

Inventories of the Company are valued at average cost or net realizable value, whichever is lower.

In accordance with adoption of ASU 2016-13, the Company evaluated and revised its policies relating to the allowance for credit losses as they pertain to contract assets, as these assets held in inventory will convert to trade receivables upon recognition of revenue for the contract to which they pertain.

In addition to contract-specific provisions for which reserves were historically established as a result of our contract review process, management also elected to implement a standard credit loss provision over any remaining contract assets considered to have a similar low risk of credit loss.

The development of these estimates is based on historic collection trends, accuracy of estimates within contract margin reporting, as well as the expectation that collection patterns, margin reporting, and bad debt expense will continue to adhere to patterns observed in recent years. These expectations were formed based on trends observed as well as current and expected future conditions. Management monitors and reviews the contributing factors to our reserve, and makes any appropriate revisions as they become necessary.

Property, Plant and Equipment

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, Plant, and Equipment

Property, plant, and equipment as of June 30, 2020 and December 31, 2019 consisted of the following:


	June 30, 2020		December 31, 2019
Land	$	11,531	$	11,076
Improvements to land and leaseholds	17,548		17,172
Buildings	32,577		35,241
Machinery and equipment, including equipment under finance leases	121,251		122,599
Construction in progress	7,240		5,234
Gross property, plant, and equipment	190,147		191,322
Less accumulated depreciation and amortization, including accumulated amortization of finance leases	(110,478)		(109,008)
Property, plant, and equipment - net	$	79,669	$	82,314

Depreciation expense was $2,613 and $2,768 for the three months ended June 30, 2020 and 2019, respectively, and $5,320 and $5,540 for the six months ended June 30, 2020 and 2019, 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 we believe that the carrying amount of a long-lived asset is not recoverable and exceeds its fair value. Due to the permanent closure of three operating locations and the discontinuance of mobile services within our Test, Inspection, and Threading business unit in the Tubular and Energy Services segment during the three months

ended June 30, 2020, certain assets were unable to support their carrying values. As a result, the Company recorded a non-cash impairment of $3,847 for the three and six months ended June 30, 2020, within the Tubular and Energy Services segment, using level 3 unobservable inputs. The fair value of land and buildings was determined using market value and the fair value of machinery and equipment was determined using estimated salvage value or estimated liquidation value. The impairment was included within “Other expense (income) - net” of the Condensed Consolidated Statements of Operations.

Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

We determine if an arrangement is a lease at its inception. Operating leases are included in “Operating lease right-of-use assets,” “Other accrued liabilities,” and “Long-term operating lease liabilities” within our Condensed Consolidated Balance Sheets. Finance leases are included in “Property, plant, and equipment - net,” “Current maturities of long-term debt,” and “Long-term debt” in our Condensed Consolidated Balance Sheets.

The Company has operating and finance leases for manufacturing facilities, corporate offices, sales offices, vehicles, and certain equipment. As of June 30, 2020, our leases had remaining lease terms of 2 to 12 years, some of which include options to extend the leases for up to 12 years, and some of which include options to terminate the leases within 1 year.

The balance sheet components of the Company's leases were as follows as of June 30, 2020 and December 31, 2019:


	June 30, 2020		December 31, 2019
Operating leases
Operating lease right-of-use assets	$	17,665	$	13,274
Other accrued liabilities	$	3,028	$	3,006
Long-term operating lease liabilities	14,637		10,268
Total operating lease liabilities	$	17,665	$	13,274
Finance leases
Property, plant, and equipment	$	3,540	$	3,518
Accumulated amortization	(3,231)		(2,943)
Property, plant, and equipment - net	$	309	$	575
Current maturities of long-term debt	$	141	$	405
Long-term debt	168		170
Total finance lease liabilities	$	309	$	575

The components of lease expense within the Company's statements of operations were as follows for the three and six months ended June 30, 2020 and 2019:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Finance lease cost:
Amortization of finance leases	$	183	$	179	$	367	$	357
Interest on lease liabilities	19		12		37		21
Operating lease cost	916		914		1,896		1,830
Sublease income	(47)		(9)		(67)		(18)
Total lease cost	$	1,071	$	1,096	$	2,233	$	2,190

The cash flow components of the Company's leases were as follows for the six months ended June 30, 2020 and 2019:


	Six Months Ended June 30,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows related to operating leases	$	(2,353)	$	(2,156)

Financing cash flows related to finance leases	(367)		(378)
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$	6,287	$	1,480

The weighted-average remaining lease term (in years) and discount rate related to the operating leases were as follows:


	Six Months Ended June 30,
	2020		2019
Operating lease weighted-average remaining lease term	8		6
Operating lease weighted-average discount rate	5.2	%	4.9	%
Finance lease weighted-average remaining lease term	2		1
Finance lease weighted-average discount rate	4.2	%	4.3	%

As of June 30, 2020, estimated annual maturities of lease liabilities remaining for the year ending December 31, 2020 and thereafter were as follows:


	Operating Leases		Finance Leases
Remainder of 2020	$	1,953	$	107
2021	3,402		163
2022	2,763		77
2023	2,519		20
2024	2,451		11
2025 and thereafter	7,603		—
Total undiscounted lease payments	20,691		378
Interest	(3,026)		(69)
Total	$	17,665	$	309

Leases

The balance sheet components of the Company's leases were as follows as of June 30, 2020 and December 31, 2019:


	June 30, 2020		December 31, 2019
Operating leases
Operating lease right-of-use assets	$	17,665	$	13,274
Other accrued liabilities	$	3,028	$	3,006
Long-term operating lease liabilities	14,637		10,268
Total operating lease liabilities	$	17,665	$	13,274
Finance leases
Property, plant, and equipment	$	3,540	$	3,518
Accumulated amortization	(3,231)		(2,943)
Property, plant, and equipment - net	$	309	$	575
Current maturities of long-term debt	$	141	$	405
Long-term debt	168		170
Total finance lease liabilities	$	309	$	575

The components of lease expense within the Company's statements of operations were as follows for the three and six months ended June 30, 2020 and 2019:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Finance lease cost:
Amortization of finance leases	$	183	$	179	$	367	$	357
Interest on lease liabilities	19		12		37		21
Operating lease cost	916		914		1,896		1,830
Sublease income	(47)		(9)		(67)		(18)
Total lease cost	$	1,071	$	1,096	$	2,233	$	2,190

The cash flow components of the Company's leases were as follows for the six months ended June 30, 2020 and 2019:


	Six Months Ended June 30,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows related to operating leases	$	(2,353)	$	(2,156)

Financing cash flows related to finance leases	(367)		(378)
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$	6,287	$	1,480

The weighted-average remaining lease term (in years) and discount rate related to the operating leases were as follows:


	Six Months Ended June 30,
	2020		2019
Operating lease weighted-average remaining lease term	8		6
Operating lease weighted-average discount rate	5.2	%	4.9	%
Finance lease weighted-average remaining lease term	2		1
Finance lease weighted-average discount rate	4.2	%	4.3	%

As of June 30, 2020, estimated annual maturities of lease liabilities remaining for the year ending December 31, 2020 and thereafter were as follows:


	Operating Leases		Finance Leases
Remainder of 2020	$	1,953	$	107
2021	3,402		163
2022	2,763		77
2023	2,519		20
2024	2,451		11
2025 and thereafter	7,603		—
Total undiscounted lease payments	20,691		378
Interest	(3,026)		(69)
Total	$	17,665	$	309

Long-Term Debt and Related Manners

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Long-Term Debt and Related Manners

Long-term Debt and Related Matters

Long-term debt consisted of the following:


	June 30, 2020		December 31, 2019
Revolving credit facility	$	55,259	$	33,868
Term loan	—		23,750
Finance leases and financing agreements	309		575
Total	55,568		58,193
Less current maturities	(142)		(2,905)
Long-term portion	$	55,426	$	55,288

On June 26, 2020, the Company, its domestic subsidiaries, and certain of its Canadian and United Kingdom subsidiaries (collectively, the “Borrowers”), entered into the First Amendment (the “First Amendment”) to its Third Amended and Restated Credit Agreement (the “Credit Agreement”) with PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank, N.A., and BMO Harris Bank, N.A. The First Amendment modified the Credit Agreement, which had a maximum revolving credit line of $140,000 and provided for a $25,000 term loan of which $22,500 remained outstanding as of June 26, 2020. The First Amendment provides for a reduction in the revolving credit facility to permit aggregate borrowings of the Borrowers up to $120,000 with a sublimit of the equivalent of $25,000 U.S. dollars that is available to the Canadian and United Kingdom borrowers in the aggregate, and repaid and terminated the outstanding term loan by drawing funds on the revolving credit facility. The First Amendment provides additional $5,000 annual reductions to the revolving credit facility beginning on December 31, 2020 through the maturity of the facility on April 30, 2024.

Borrowings under the First Amendment bear interest at rates based upon either the base rate or Euro-rate plus applicable margins. The applicable margins have been adjusted as part of the First Amendment and are dictated by the ratio of the Company’s total net indebtedness to the Company’s consolidated earnings before interest, taxes, depreciation, and amortization (“Consolidated EBITDA”) for four trailing quarters, as defined in the Credit Agreement. The base rate is the highest of (a) the Overnight Bank Funding Rate plus 50 basis points, (b) the Prime Rate, or (c) the Daily Euro-rate plus 100 basis points (each as defined in the Credit Agreement) and an increase to the interest rate floor to 100 basis points. The base rate and Euro-rate spreads range from 100 to 200 basis points and 200 to 300 basis points, respectively.

The First Amendment further provides for modifications to the financial covenants as defined in the Credit Agreement. The First Amendment modified three financial covenants in the Credit Agreement: (a) Maximum Gross Leverage Ratio, defined as the Company’s consolidated Indebtedness divided by the Company’s Consolidated EBITDA, which must not exceed, other than during a period of four consecutive fiscal quarters of the Company beginning with a fiscal quarter during which the Company consummates a permitted acquisition, and including such fiscal quarter and the immediately three succeeding fiscal quarters (the “Acquisition Period”), (i) 3.25 to 1.00 for the testing period ended June 30, 2020, 3.00 to 1.00 for the testing periods ending September 30, 2020 through March 31, 2022, and 2.75 to 1.00 for the testing periods June 30, 2022 and thereafter, and (ii) 3.50 to 1.00 for the testing period ended June 30, 2020, 3.25 to 1.00 for the testing periods ending September 30, 2020 through March 31, 2022, and 3.00 to 1.00 for the testing periods ending June 30, 2022 and thereafter occurring during an Acquisition Period; (b) Minimum Consolidated Fixed Charge Coverage Ratio, defined as the Company's Consolidated EBITDA divided by the Company's Fixed Charges, which must be a minimum of 1.00 to 1.00 for the testing period ended June 30, 2020, 1.05 to 1.00 for the testing periods ending September 30, 2020 through June 30, 2021, 1.15 to 1.00 for the testing periods ending September 30, 2021 through June 30, 2022, and 1.25 to 1.00 for the testing periods ending September 30, 2022 and thereafter; and (c) Minimum Working Capital to Revolving Facility Usage Ratio, defined as the sum of 50% of the inventory and 85% of the accounts receivable of the Borrowers and certain other Guarantors divided by the dollar equivalent sum of the outstanding revolving credit loans, the outstanding swing loans, and the letter of credit obligations (the “Revolving Facility Usage”), which must not be less than 1.50 to 1.00. In addition, the First Amendment modifies the definition of Consolidated EBITDA to allow for certain additional adjustments. The First Amendment also includes changes to the non-financial covenants as defined in the Credit Agreement by increasing the basket for dispositions from $25,000 to $40,000. The Credit Agreement’s incremental loan feature permits the Company to increase the available revolving borrowings under the facility by up to an additional $50,000 subject to the Company’s receipt of increased commitments from existing or new lenders and the satisfaction of certain conditions.

The Company’s and the domestic, Canadian, and United Kingdom guarantors’ (the “Guarantors”) obligations under the Credit Agreement are secured by the grant of a security interest by the Borrowers and Guarantors in substantially all of the personal property owned by such entities. Additionally, the equity interests in each of the loan parties, other than the Company, and the equity interests held by each loan party in its respective domestic subsidiaries, have been pledged to the lenders as collateral for the lending obligations.

The Credit Agreement permits the Company to pay dividends and make distributions and redemptions with respect to its stock provided no event of default or potential default (as defined in the Credit Agreement) has occurred prior to or after giving effect to the dividend, distribution, or redemption. Additionally, the Credit Agreement permits the Company to complete acquisitions so long as (a) no event of default or potential default has occurred prior to or as a result of such acquisition; (b) the liquidity of the Borrowers is not less than $25,000 prior to and after giving effect to such acquisition; and (c) the aggregate consideration for the acquisition did not exceed: (i) $50,000 per acquisition; (ii) $50,000 in the aggregate for multiple acquisitions entered into during four consecutive quarters; and (iii) $100,000 in the aggregate over the term of the Credit Agreement.

Other restrictions existed at all times including, but not limited to, limitations on the Company’s sale of assets and the incurrence by either the Borrowers or the non-borrower subsidiaries of the Company of other indebtedness, guarantees, and liens.

As of June 30, 2020, L.B. Foster was in compliance with the covenants in the First Amendment.

As of June 30, 2020, the Company had outstanding letters of credit of approximately $1,015 and had net available borrowing capacity of $63,726. The maturity date of the facility is April 30, 2024.

Fair Value Measurements

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

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” in the Condensed Consolidated Balance Sheets 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 June 30, 2020 and December 31, 2019, the interest rate swaps were recorded within “Other accrued liabilities” in the Condensed Consolidated Balance Sheets.


	Fair Value Measurements at Reporting Date														Fair Value Measurements at Reporting Date
	June 30, 2020		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		December 31, 2019		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Term deposits	$	16	$	16	$	—	$	—	$	17	$	17	$	—	$	—

Total assets	$	16	$	16	$	—	$	—	$	17	$	17	$	—	$	—
Interest rate swaps	$	1,566	$	—	$	1,566	$	—	$	480	$	—	$	480	$	—
Total liabilities	$	1,566	$	—	$	1,566	$	—	$	480	$	—	$	480	$	—

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 on our debt. The gains and losses related to the interest rate swaps are reclassified from “Accumulated other comprehensive loss” in our Condensed Consolidated Balance Sheets and included in “Interest expense - net” in our Condensed Consolidated Statements of Operations as the interest expense from our debt is recognized. For the three months ended June 30, 2020 and 2019, we recognized interest expense of $217 and interest income of $56, respectively, and for the six months ended June 30, 2020 and 2019, we recognized interest expense of $290 and interest income of $121, respectively, from interest rate swaps.

In accordance with the provisions of the FASB's Accounting Standards Codification (“ASC”) Topic 820, “Fair Value Measurement,” the Company measures certain nonfinancial assets and liabilities at fair value, which are recognized or disclosed on a nonrecurring basis.

- Definition

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.

+ References + Details

Earnings Per Common Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Common Share

(Share amounts in thousands)

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Numerator for basic and diluted earnings (loss) per common share:
Net income (loss)	$	523	$	9,564	$	(1,343)	$	13,254
Denominator:
Weighted average shares outstanding	10,557		10,420		10,518		10,399
Denominator for basic earnings (loss) per common share	10,557		10,420		10,518		10,399
Effect of dilutive securities:
Stock compensation plans	66		222		—		199
Dilutive potential common shares	66		222		—		199
Denominator for diluted earnings (loss) per common share - adjusted weighted average shares outstanding	10,623		10,642		10,518		10,598
Basic earnings (loss) per common share	$	0.05	$	0.92	$	(0.13)	$	1.27
Diluted earnings (loss) per common share	$	0.05	$	0.90	$	(0.13)	$	1.25

There were no anti-dilutive shares during the three months ended June 30, 2020 and 131 anti-dilutive shares during the six months ended June 30, 2020, excluded from the above calculation. There were no anti-dilutive shares during the three and six months ended June 30, 2019.

Stock-Based Compensation

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement, Noncash Expense [Abstract]

Stock-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 periods. The Company recorded stock compensation expense related to restricted stock awards and performance share units of $558 and $1,179 for the three months ended June 30, 2020 and 2019, respectively, and $1,238 and $2,034 for the six months ended June 30, 2020 and 2019, respectively. As of June 30, 2020, unrecognized compensation expense for unvested awards approximated $5,036. The Company will recognize this expense over the upcoming 3.8 years through March 2024.

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 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 have been 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 separation from their service on the Board of Directors. Since May 2018, no non-employee directors have elected the option to receive deferred stock units of the Company’s common stock in lieu of director cash compensation.

In February 2020, the Compensation Committee approved the 2020 Performance Share Unit Program and the Executive Annual Incentive Compensation Plan (consisting of cash and equity components).

The following table summarizes the restricted stock awards, deferred stock units, and performance share units activity for the six months ended June 30, 2020:


	Restricted Stock	Deferred Stock Units	Performance Share Units	Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2019	150,799	54,078	331,148	$	18.50
Granted	96,676	12,058	105,857	16.80
Vested	(72,010)	—	(163,224)	15.59
Adjustment for incentive awards not expected to vest	—	—	(4,827)	30.65
Cancelled and forfeited	(10,394)	—	(27,394)	20.07
Outstanding as of June 30, 2020	165,071	66,136	241,560	$	19.42

Retirement Plans

6 Months Ended

Jun. 30, 2020

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 six months ended June 30, 2020 and 2019 were as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019

Interest cost	$	56	$	162	$	112	$	324
Expected return on plan assets	(58)		(180)		(115)		(360)
Recognized net actuarial loss	13		31		27		63
Net periodic pension cost	$	11	$	13	$	24	$	27

The Company has made contributions to its United States defined benefit pension plan of $150 for the six months ended June 30, 2020 and expects to make total contributions of $660 during 2020.

United Kingdom Defined Benefit Plan

Net periodic pension costs for the United Kingdom defined benefit pension plan for the three and six months ended June 30, 2020 and 2019 were as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Interest cost	$	43	$	54	$	86	$	108
Expected return on plan assets	(58)		(61)		(116)		(122)
Amortization of prior service costs and transition amount	6		11		12		22
Recognized net actuarial loss	63		53		126		106
Net periodic pension cost	$	54	$	57	$	108	$	114

United Kingdom regulations require trustees to adopt a prudent approach to funding required contributions to defined benefit pension plans. The Company anticipates total contributions of approximately $296 to the United Kingdom pension plan during 2020. For the six months ended June 30, 2020, the Company contributed approximately $152 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 June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
United States	$	433	$	680	$	295	$	1,230
Canada	30		34		69		72
United Kingdom	101		118		210		225
	$	564	$	832	$	574	$	1,527

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

+ Details

Commitments and Contingent Liabilities

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

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 adjusted periodically 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, 2019	$	1,222
Additions to warranty liability	361
Warranty liability utilized	(395)
Balance as of June 30, 2020	$	1,188

Union Pacific Railroad (“UPRR”) Concrete Tie Matter

On March 13, 2019, the Company and its subsidiary, CXT Incorporated (“CXT”), entered into a Settlement Agreement (the “Settlement Agreement”) with UPRR to resolve the pending litigation in the matter of Union Pacific Railroad Company v. L.B. Foster Company and CXT Incorporated, Case No. CI 15-564, in the District Court for Douglas County, Nebraska.

Under the Settlement Agreement, the Company and CXT will pay UPRR the aggregate amount of $50,000 without pre-judgment interest, which began with a $2,000 immediate payment, and with the remaining $48,000 paid in installments over a six-year period commencing on the effective date of the Settlement Agreement through December 2024 pursuant to a Promissory Note. Additionally, commencing in January 2019 and through December 2024, UPRR agreed to purchase from the Company and its subsidiaries and affiliates, a cumulative total amount of $48,000 of products and services, targeting $8,000 of annual purchases per year beginning March 13, 2019 per letters of intent under the Settlement Agreement. The Settlement Agreement also includes a mutual release of all claims and liability regarding or relating to all CXT pre-stressed concrete railroad ties with no admission of liability and dismissal of the litigation with prejudice.

The expected payments under the UPRR Settlement Agreement for the remainder of the year ending December 31, 2020 and thereafter are as follows:


Year Ending December 31,
Remainder of 2020	$	6,000
2021	8,000
2022	8,000
2023	8,000
2024	8,000

Total	$	38,000

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 (“PRP”) regarding the Portland Harbor Superfund Site cleanup along with numerous other companies. More than 140 other companies received such a notice. The Company and a predecessor owned and operated a facility near the harbor site for a period prior to 1982. The net present value and undiscounted costs of the selected remedy throughout the harbor site are estimated by the EPA to be approximately $1.1 billion and $1.7 billion, respectively, and the remedial work is expected to take as long as 13 years to complete. The Company is reviewing the basis for its identification by the EPA and the nature of the historic operations of a Company predecessor near the site. Additionally, the Company executed a PRP agreement which provides for a private allocation process among almost 100 PRPs in a working group whose work is ongoing. On March 26, 2020, the EPA issued a Unilateral Administrative Order to two parties requiring them to perform remedial design work for that portion of the Harbor Superfund Site that includes the area closest to the facility; the Company was not a recipient of this Unilateral Administrative Order. We cannot predict the ultimate impact of these proceedings because of the large number of PRPs involved throughout the harbor site, the degree of contamination of various wastes, varying environmental impacts throughout the harbor site, the scarcity of data related to the facility once operated by the Company and a predecessor, and the speculative nature of the remediation costs. Based upon information currently available, management does not believe that the Company’s alleged PRP status regarding the Portland Harbor Superfund Site or other 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 June 30, 2020 and December 31, 2019, the Company maintained environmental reserves approximating $6,038 and $6,068, respectively. The following table sets forth the Company’s environmental obligation:


	Environmental liability
Balance as of December 31, 2019	$	6,068

Environmental obligations utilized	(30)
Balance as of June 30, 2020	$	6,038

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 June 30, 2020.

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 June 30, 2020, no such disclosures were considered necessary.

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesFor the three months ended June 30, 2020 and 2019, the Company recorded an income tax provision of $1,093 and $1,685 on pre-tax income of $1,616 and $11,249, respectively, for effective income tax rates of 67.6% and 15.0%, respectively. For the six months ended June 30, 2020 and 2019, the Company recorded an income tax provision of $265 and $2,323 on pre-tax losses of $1,078 and pre-tax income of $15,577, respectively, for effective income tax rates of (24.6)% and 14.9%, respectively. The Company’s provision for income taxes for the three- and six-month periods ended June 30, 2020 included a discrete income tax benefit of $1,563 related to $6,514 of exit charges and asset impairments incurred in the second quarter. In addition to the impact of the discrete items, the Company's effective tax rate for the six months ended June 30, 2020 differed from the federal statutory rate of 21% primarily due to state income taxes, nondeductible expenses and global intangible low-taxed income (“GILTI”) inclusions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Financial Statements (Policies)	6 Months Ended
Financial Statements (Policies)	Jun. 30, 2020
Accounting Policies [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 June 30, 2020 and December 31, 2019, its Condensed Consolidated Statements of Operations, Condensed Consolidated Statements of Comprehensive Income (Loss), and its Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 30, 2020 and 2019, and its Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2020 and 2019, 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, 2020. The Condensed Consolidated Balance Sheet as of December 31, 2019 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 L.B. Foster Company’s Annual Report on Form 10-K for the year ended December 31, 2019. 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 March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. (“ASU”) 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (“ASU 2020-04”), which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by the discontinuation of the London Interbank Offered Rate (“LIBOR”) or by another reference rate expected to be discontinued. The amendments are effective for all entities as of March 12, 2020 through December 31, 2022. We are currently evaluating the impacts of the provisions of ASU 2020-04 on our financial condition, results of operations, and cash flows. Recently Adopted Accounting Standards In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 added a new impairment model (known as the current expected credit loss (“CECL”) model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses and presents financial assets measured at amortized cost basis at the net amount expected to be collected upon inception. The CECL model applies to trade receivables, other receivables, and most debt instruments. The CECL model does not have a minimum threshold for recognition of impairment losses, and entities must measure expected credit losses on assets that have a low risk of loss. The Company adopted the provisions of ASU 2016-13 on January 1, 2020, using the modified retrospective approach as of the beginning of the period of adoption. In accordance with the standard, the Company evaluated its allowance for credit losses for trade receivables and contract assets, the only assets held by the Company that were impacted by the scope of the standard. The adoption of ASU 2016-13 had no material effect on the Company’s financial position or results of operations, and no adjustment to January 1, 2020 Retained earnings was recorded. The Company has presented the disclosures required by this new standard in Note 5 Accounts Receivable and Note 6 Inventory. In August 2018, the FASB issued ASU 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software” (“ASU 2018-15”). ASU 2018-15 requires capitalization of certain implementation costs incurred in a cloud computing arrangement that qualifies as a service contract. The amendments in ASU 2018-15 are effective for fiscal years beginning after December 15, 2019 and for interim periods therein with early adoption permitted. The adoption of ASU 2018-15 had no impact on the Company’s consolidated financial statements and related disclosures.
Inventory	Inventories of the Company are valued at average cost or net realizable value, whichever is lower.
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 periods

- Definition

Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.

+ References + Details

Business Segments (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

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


	Three Months Ended June 30, 2020						Three Months Ended June 30, 2019
	Net Sales		Segment Profit (Loss)		Net Sales		Segment Profit
Rail Products and Services	$	74,939	$	5,816	$	101,401	$	7,919
Construction Products	42,008		1,506		55,406		3,413
Tubular and Energy Services	28,819		(4,105)		44,126		5,019
Total	$	145,766	$	3,217	$	200,933	$	16,351

	Six Months Ended June 30, 2020						Six Months Ended June 30, 2019
	Net Sales		Segment Profit (Loss)		Net Sales		Segment Profit
Rail Products and Services	$	145,143	$	6,987	$	177,095	$	11,398
Construction Products	71,042		(133)		92,751		4,247
Tubular and Energy Services	58,356		(3,493)		81,556		9,707
Total	$	274,541	$	3,361	$	351,402	$	25,352

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 June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Profit for reportable segments	$	3,217	$	16,351	$	3,361	$	25,352
Interest expense - net	(1,090)		(1,597)		(1,907)		(2,952)

Other income - net	2,292		252		2,427		402


Unallocated corporate expenses and other unallocated charges	(2,803)		(3,757)		(4,959)		(7,225)
Income (loss) before income taxes	$	1,616	$	11,249	$	(1,078)	$	15,577

Reconciliation of Assets from Segment to Consolidated

The following table illustrates assets of the Company by segment:


	June 30, 2020		December 31, 2019
Rail Products and Services	$	171,806	$	186,323
Construction Products	99,894		83,049
Tubular and Energy Services	71,157		77,320
Unallocated corporate assets	54,507		58,479
Total	$	397,364	$	405,171

Revenue (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Rail Products	$	52,206	$	67,990	$	95,768	$	114,196
Rail Technologies	22,733		33,411		49,375		62,899
Rail Products and Services	74,939		101,401		145,143		177,095
Piling and Fabricated Bridge	25,580		37,588		43,971		61,320
Precast Concrete Products	16,428		17,818		27,071		31,431
Construction Products	42,008		55,406		71,042		92,751
Test, Inspection, and Threading Services	8,673		13,804		18,377		28,528
Protective Coatings and Measurement Systems	20,146		30,322		39,979		53,028
Tubular and Energy Services	28,819		44,126		58,356		81,556
Total net sales	$	145,766	$	200,933	$	274,541	$	351,402

Net sales by the timing of the transfer of products and services was as follows:


	Three Months Ended June 30, 2020
	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	61,275	$	28,148	$	20,797	$	110,220
Over time	13,664		13,860		8,022		35,546
Total net sales	$	74,939	$	42,008	$	28,819	$	145,766

	Three Months Ended June 30, 2019
	Rail Products and Services		Construction Products		Tubular and Energy Services		Total
Point in time	$	80,701	$	38,095	$	33,542	$	152,338
Over time	20,700		17,311		10,584		48,595
Total net sales	$	101,401	$	55,406	$	44,126	$	200,933

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2020

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, 2019	$	14,418	$	5,147	$	—	$	19,565
Foreign currency translation impact	(591)		—		—		(591)
Balance as of June 30, 2020	$	13,827	$	5,147	$	—	$	18,974

Schedule of Intangible Assets

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


	June 30, 2020
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	5	$	44	$	(41)	$	3
Patents	10	358		(186)		172
Customer relationships	18	36,829		(14,791)		22,038
Trademarks and trade names	16	7,734		(3,807)		3,927
Technology	14	35,563		(21,545)		14,018
		$	80,528	$	(40,370)	$	40,158

	December 31, 2019
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	4	$	1,272	$	(1,259)	$	13
Patents	10	377		(188)		189
Customer relationships	18	37,498		(13,945)		23,553
Trademarks and trade names	16	7,787		(3,551)		4,236
Technology	13	35,728		(20,205)		15,523
		$	82,662	$	(39,148)	$	43,514

Estimated Future Amortization

As of June 30, 2020, estimated amortization expense for the remainder of 2020 and thereafter was as follows:


	Amortization Expense
Remainder of 2020	$	2,907
2021	5,784
2022	5,700
2023	5,229
2024	4,209
2025 and thereafter	16,329
	$	40,158

Inventory (Tables)

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventories as of June 30, 2020 and December 31, 2019 are summarized in the following table:


	June 30, 2020		December 31, 2019
Finished goods	$	56,923	$	59,864
Contract assets	33,606		37,032
Work-in-process	4,751		3,728
Raw materials	18,444		18,677
Inventories - net	$	113,724	$	119,301

Property, Plant and Equipment (Tables)

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant, and equipment as of June 30, 2020 and December 31, 2019 consisted of the following:


	June 30, 2020		December 31, 2019
Land	$	11,531	$	11,076
Improvements to land and leaseholds	17,548		17,172
Buildings	32,577		35,241
Machinery and equipment, including equipment under finance leases	121,251		122,599
Construction in progress	7,240		5,234
Gross property, plant, and equipment	190,147		191,322
Less accumulated depreciation and amortization, including accumulated amortization of finance leases	(110,478)		(109,008)
Property, plant, and equipment - net	$	79,669	$	82,314

Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Balance Sheet Locations

The balance sheet components of the Company's leases were as follows as of June 30, 2020 and December 31, 2019:


	June 30, 2020		December 31, 2019
Operating leases
Operating lease right-of-use assets	$	17,665	$	13,274
Other accrued liabilities	$	3,028	$	3,006
Long-term operating lease liabilities	14,637		10,268
Total operating lease liabilities	$	17,665	$	13,274
Finance leases
Property, plant, and equipment	$	3,540	$	3,518
Accumulated amortization	(3,231)		(2,943)
Property, plant, and equipment - net	$	309	$	575
Current maturities of long-term debt	$	141	$	405
Long-term debt	168		170
Total finance lease liabilities	$	309	$	575

Components of Lease Cost

The components of lease expense within the Company's statements of operations were as follows for the three and six months ended June 30, 2020 and 2019:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Finance lease cost:
Amortization of finance leases	$	183	$	179	$	367	$	357
Interest on lease liabilities	19		12		37		21
Operating lease cost	916		914		1,896		1,830
Sublease income	(47)		(9)		(67)		(18)
Total lease cost	$	1,071	$	1,096	$	2,233	$	2,190

The cash flow components of the Company's leases were as follows for the six months ended June 30, 2020 and 2019:


	Six Months Ended June 30,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows related to operating leases	$	(2,353)	$	(2,156)

Financing cash flows related to finance leases	(367)		(378)
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$	6,287	$	1,480

The weighted-average remaining lease term (in years) and discount rate related to the operating leases were as follows:


	Six Months Ended June 30,
	2020		2019
Operating lease weighted-average remaining lease term	8		6
Operating lease weighted-average discount rate	5.2	%	4.9	%
Finance lease weighted-average remaining lease term	2		1
Finance lease weighted-average discount rate	4.2	%	4.3	%

Estimated Annual Maturities, Operating

As of June 30, 2020, estimated annual maturities of lease liabilities remaining for the year ending December 31, 2020 and thereafter were as follows:


	Operating Leases		Finance Leases
Remainder of 2020	$	1,953	$	107
2021	3,402		163
2022	2,763		77
2023	2,519		20
2024	2,451		11
2025 and thereafter	7,603		—
Total undiscounted lease payments	20,691		378
Interest	(3,026)		(69)
Total	$	17,665	$	309

Estimated Annual Maturities, Finance

As of June 30, 2020, estimated annual maturities of lease liabilities remaining for the year ending December 31, 2020 and thereafter were as follows:


	Operating Leases		Finance Leases
Remainder of 2020	$	1,953	$	107
2021	3,402		163
2022	2,763		77
2023	2,519		20
2024	2,451		11
2025 and thereafter	7,603		—
Total undiscounted lease payments	20,691		378
Interest	(3,026)		(69)
Total	$	17,665	$	309

Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt consisted of the following:


	June 30, 2020		December 31, 2019
Revolving credit facility	$	55,259	$	33,868
Term loan	—		23,750
Finance leases and financing agreements	309		575
Total	55,568		58,193
Less current maturities	(142)		(2,905)
Long-term portion	$	55,426	$	55,288

- Definition

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

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


	Fair Value Measurements at Reporting Date														Fair Value Measurements at Reporting Date
	June 30, 2020		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		December 31, 2019		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Term deposits	$	16	$	16	$	—	$	—	$	17	$	17	$	—	$	—

Total assets	$	16	$	16	$	—	$	—	$	17	$	17	$	—	$	—
Interest rate swaps	$	1,566	$	—	$	1,566	$	—	$	480	$	—	$	480	$	—
Total liabilities	$	1,566	$	—	$	1,566	$	—	$	480	$	—	$	480	$	—

Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

(Share amounts in thousands)

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Numerator for basic and diluted earnings (loss) per common share:
Net income (loss)	$	523	$	9,564	$	(1,343)	$	13,254
Denominator:
Weighted average shares outstanding	10,557		10,420		10,518		10,399
Denominator for basic earnings (loss) per common share	10,557		10,420		10,518		10,399
Effect of dilutive securities:
Stock compensation plans	66		222		—		199
Dilutive potential common shares	66		222		—		199
Denominator for diluted earnings (loss) per common share - adjusted weighted average shares outstanding	10,623		10,642		10,518		10,598
Basic earnings (loss) per common share	$	0.05	$	0.92	$	(0.13)	$	1.27
Diluted earnings (loss) per common share	$	0.05	$	0.90	$	(0.13)	$	1.25

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement, Noncash Expense [Abstract]

Schedule of Nonvested Share Activity

The following table summarizes the restricted stock awards, deferred stock units, and performance share units activity for the six months ended June 30, 2020:


	Restricted Stock	Deferred Stock Units	Performance Share Units	Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2019	150,799	54,078	331,148	$	18.50
Granted	96,676	12,058	105,857	16.80
Vested	(72,010)	—	(163,224)	15.59
Adjustment for incentive awards not expected to vest	—	—	(4,827)	30.65
Cancelled and forfeited	(10,394)	—	(27,394)	20.07
Outstanding as of June 30, 2020	165,071	66,136	241,560	$	19.42

Retirement Plans (Tables)

6 Months Ended

Jun. 30, 2020

Defined Benefit Plan Disclosure

Schedule of Costs of Retirement Plans

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
United States	$	433	$	680	$	295	$	1,230
Canada	30		34		69		72
United Kingdom	101		118		210		225
	$	564	$	832	$	574	$	1,527

United States

Defined Benefit Plan Disclosure

Schedule of Net Benefit Costs

Net periodic pension costs for the United States defined benefit pension plan for the three and six months ended June 30, 2020 and 2019 were as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019

Interest cost	$	56	$	162	$	112	$	324
Expected return on plan assets	(58)		(180)		(115)		(360)
Recognized net actuarial loss	13		31		27		63
Net periodic pension cost	$	11	$	13	$	24	$	27

United Kingdom

Defined Benefit Plan Disclosure

Schedule of Net Benefit Costs

Net periodic pension costs for the United Kingdom defined benefit pension plan for the three and six months ended June 30, 2020 and 2019 were as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Interest cost	$	43	$	54	$	86	$	108
Expected return on plan assets	(58)		(61)		(116)		(122)
Amortization of prior service costs and transition amount	6		11		12		22
Recognized net actuarial loss	63		53		126		106
Net periodic pension cost	$	54	$	57	$	108	$	114

Commitments and Contingent Liabilities (Tables)

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability

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


	Warranty Liability
Balance as of December 31, 2019	$	1,222
Additions to warranty liability	361
Warranty liability utilized	(395)
Balance as of June 30, 2020	$	1,188

Schedule Of Future Payments Of Legal Settlements

The expected payments under the UPRR Settlement Agreement for the remainder of the year ending December 31, 2020 and thereafter are as follows:


Year Ending December 31,
Remainder of 2020	$	6,000
2021	8,000
2022	8,000
2023	8,000
2024	8,000

Total	$	38,000

Environmental Loss Contingencies

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


	Environmental liability
Balance as of December 31, 2019	$	6,068

Environmental obligations utilized	(30)
Balance as of June 30, 2020	$	6,038

Business Segments - Narrative (Details)	6 Months Ended
Business Segments - Narrative (Details)	Jun. 30, 2020 segment
Segment Reporting [Abstract]
Operating segments	3

Business Segments - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information
Total net sales	$ 145,766	$ 200,933	$ 274,541	$ 351,402
Segment Profit (Loss)	3,217	16,351
Interest expense - net	(1,090)	(1,597)	(1,907)	(2,952)
Other income - net	(3,339)	252	(4,085)	402
Pre-tax income	1,616	11,249	(1,078)	15,577
Rail Products and Services
Segment Reporting Information
Total net sales	74,939	101,401	145,143	177,095
Segment Profit (Loss)	5,816	7,919
Construction Products
Segment Reporting Information
Total net sales	42,008	55,406	71,042	92,751
Segment Profit (Loss)	1,506	3,413
Tubular and Energy Services
Segment Reporting Information
Total net sales	28,819	44,126	58,356	81,556
Segment Profit (Loss)	(4,105)	5,019
Operating Segments
Segment Reporting Information
Total net sales			274,541	351,402
Segment Profit (Loss)	3,217	16,351	3,361	25,352
Interest expense - net	(1,090)	(1,597)	(1,907)	(2,952)
Other income - net	2,292	252	2,427	402
Unallocated corporate expenses and other unallocated charges	(2,803)	(3,757)	(4,959)	(7,225)
Pre-tax income	$ 1,616	$ 11,249	(1,078)	15,577
Operating Segments \| Rail Products and Services
Segment Reporting Information
Total net sales			145,143	177,095
Segment Profit (Loss)			6,987	11,398
Operating Segments \| Construction Products
Segment Reporting Information
Total net sales			71,042	92,751
Segment Profit (Loss)			(133)	4,247
Operating Segments \| Tubular and Energy Services
Segment Reporting Information
Total net sales			58,356	81,556
Segment Profit (Loss)			$ (3,493)	$ 9,707

Business Segments - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting [Abstract]
Profit for reportable segments	$ 3,217	$ 16,351
Interest expense - net	(1,090)	(1,597)	$ (1,907)	$ (2,952)
Other income - net	(3,339)	252	(4,085)	402
Income (loss) before income taxes	$ 1,616	$ 11,249	$ (1,078)	$ 15,577

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68072869&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Business Segments - Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Segment Reporting Information
Assets	$ 397,364	$ 405,171
Operating Segments \| Rail Products and Services
Segment Reporting Information
Assets	171,806	186,323
Operating Segments \| Construction Products
Segment Reporting Information
Assets	99,894	83,049
Operating Segments \| Tubular and Energy Services
Segment Reporting Information
Assets	71,157	77,320
Unallocated corporate assets
Segment Reporting Information
Assets	$ 54,507	$ 58,479

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=121559654&loc=d3e5710-111685

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

+ Details

Revenue - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Disaggregation of Revenue
Customer revenue transferred over-time			24.90%	25.70%
Total net sales	$ 145,766	$ 200,933	$ 274,541	$ 351,402
Contract with customer, assets	33,606		33,606		$ 37,032
Contract with customer, liability	4,967		4,967		$ 4,472
Contract assets transferred to receivables			20,628
Cash proceeds from liability contract			2,751
Revenue recognized from contract liability	$ 1,237	$ 318	3,851	1,266
Over time
Disaggregation of Revenue
Customer revenue transferred over-time	24.40%	24.20%
Total net sales	$ 35,546	$ 48,595	68,323	90,343
Over time \| Performance Based
Disaggregation of Revenue
Total net sales	24,858	34,984	49,290	66,821
Over time \| Delivery Based
Disaggregation of Revenue
Total net sales	$ 10,688	$ 13,611	$ 19,033	$ 23,522
Point in time
Disaggregation of Revenue
Customer revenue transferred over-time	75.60%	75.80%	75.10%	74.30%
Total net sales	$ 110,220	$ 152,338	$ 206,218	$ 261,059

Revenue - Disaggregation of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue
Total net sales	$ 145,766	$ 200,933	$ 274,541	$ 351,402
Rail Products and Services
Disaggregation of Revenue
Total net sales	74,939	101,401	145,143	177,095
Rail Products and Services \| Rail Products
Disaggregation of Revenue
Total net sales	52,206	67,990	95,768	114,196
Rail Products and Services \| Rail Technologies
Disaggregation of Revenue
Total net sales	22,733	33,411	49,375	62,899
Construction Products
Disaggregation of Revenue
Total net sales	42,008	55,406	71,042	92,751
Construction Products \| Piling and Fabricated Bridge
Disaggregation of Revenue
Total net sales	25,580	37,588	43,971	61,320
Construction Products \| Precast Concrete Products
Disaggregation of Revenue
Total net sales	16,428	17,818	27,071	31,431
Tubular and Energy Services
Disaggregation of Revenue
Total net sales	28,819	44,126	58,356	81,556
Tubular and Energy Services \| Test, Inspection, and Threading Services
Disaggregation of Revenue
Total net sales	8,673	13,804	18,377	28,528
Tubular and Energy Services \| Protective Coatings and Measurement Systems
Disaggregation of Revenue
Total net sales	$ 20,146	$ 30,322	$ 39,979	$ 53,028

Revenue - Timing of Transfer (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue
Total net sales	$ 145,766	$ 200,933	$ 274,541	$ 351,402
Point in time
Disaggregation of Revenue
Total net sales	110,220	152,338	206,218	261,059
Over time
Disaggregation of Revenue
Total net sales	35,546	48,595	68,323	90,343
Rail Products and Services
Disaggregation of Revenue
Total net sales	74,939	101,401	145,143	177,095
Rail Products and Services \| Point in time
Disaggregation of Revenue
Total net sales	61,275	80,701	116,163	137,193
Rail Products and Services \| Over time
Disaggregation of Revenue
Total net sales	13,664	20,700	28,980	39,902
Construction Products
Disaggregation of Revenue
Total net sales	42,008	55,406	71,042	92,751
Construction Products \| Point in time
Disaggregation of Revenue
Total net sales	28,148	38,095	45,031	61,190
Construction Products \| Over time
Disaggregation of Revenue
Total net sales	13,860	17,311	26,011	31,561
Tubular and Energy Services
Disaggregation of Revenue
Total net sales	28,819	44,126	58,356	81,556
Tubular and Energy Services \| Point in time
Disaggregation of Revenue
Total net sales	20,797	33,542	45,024	62,676
Tubular and Energy Services \| Over time
Disaggregation of Revenue
Total net sales	$ 8,022	$ 10,584	$ 13,332	$ 18,880

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue - Additional information (Details) $ in Thousands	Jun. 30, 2020 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue remaining performance obligation	$ 225,897
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Revenue remaining performance obligation (percentage)	11.90%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	6 months

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020 USD ($)
Goodwill
Goodwill, beginning balance	$ 19,565
Foreign currency translation impact	(591)
Goodwill, ending balance	18,974
Rail Products and Services
Goodwill
Goodwill, beginning balance	14,418
Foreign currency translation impact	(591)
Goodwill, ending balance	13,827
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 Intangible Asset (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets
Gross Carrying Value	$ 80,528	$ 82,662
Accumulated Amortization	(40,370)	(39,148)
Net Carrying Amount	40,158	43,514
Non-compete agreements
Finite-Lived Intangible Assets
Gross Carrying Value	44	1,272
Accumulated Amortization	(41)	(1,259)
Net Carrying Amount	3	13
Patents
Finite-Lived Intangible Assets
Gross Carrying Value	358	377
Accumulated Amortization	(186)	(188)
Net Carrying Amount	172	189
Customer relationships
Finite-Lived Intangible Assets
Gross Carrying Value	36,829	37,498
Accumulated Amortization	(14,791)	(13,945)
Net Carrying Amount	22,038	23,553
Trademarks and trade names
Finite-Lived Intangible Assets
Gross Carrying Value	7,734	7,787
Accumulated Amortization	(3,807)	(3,551)
Net Carrying Amount	3,927	4,236
Technology
Finite-Lived Intangible Assets
Gross Carrying Value	35,563	35,728
Accumulated Amortization	(21,545)	(20,205)
Net Carrying Amount	$ 14,018	$ 15,523
Weighted Average
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	16 years
Weighted Average \| Non-compete agreements
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	5 years	4 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	18 years
Weighted Average \| Trademarks and trade names
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	16 years	16 years
Weighted Average \| Technology
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	14 years	13 years

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Amortization expense	$ 1,446	$ 1,679	$ 2,909	$ 3,391
Non-compete agreements
Fully amortized intangible assets	$ 1,186		$ 1,186
Minimum
Finite lived intangible asset, useful life			5 years
Maximum
Finite lived intangible asset, useful life			25 years
Weighted Average
Finite lived intangible asset, useful life			16 years
Weighted Average \| Non-compete agreements
Finite lived intangible asset, useful life			5 years		4 years

Goodwill and Other Intangible Assets - Schedule of Expected Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2020	$ 2,907
2021	5,784
2022	5,700
2023	5,229
2024	4,209
2025 and thereafter	16,329
Net Carrying Amount	$ 40,158	$ 43,514

Accounts Receivable (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Accounts Receivable Additional Disclosures [Abstract]
Allowance doubtful accounts, receivables	$ 1,393		$ 1,393		$ 1,100
Reserve for (income) from uncollectable accounts	$ 198	$ 4	$ 362	$ 104

Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Finished goods	$ 56,923	$ 59,864
Contract assets	33,606	37,032
Work-in-process	4,751	3,728
Raw materials	18,444	18,677
Inventories - net	$ 113,724	$ 119,301

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Property, Plant and Equipment
Gross property, plant, and equipment	$ 190,147		$ 190,147		$ 191,322
Less accumulated depreciation and amortization, including accumulated amortization of finance leases	110,478		110,478		109,008
Property, plant, and equipment - net (Note 7)	79,669		79,669		82,314
Depreciation	2,613	$ 2,768	5,320	$ 5,540
Asset impairment	3,847		3,847
Land
Property, Plant and Equipment
Gross property, plant, and equipment	11,531		11,531		11,076
Improvements to land and leaseholds
Property, Plant and Equipment
Gross property, plant, and equipment	17,548		17,548		17,172
Buildings
Property, Plant and Equipment
Gross property, plant, and equipment	32,577		32,577		35,241
Machinery and equipment, including equipment under finance leases
Property, Plant and Equipment
Gross property, plant, and equipment	121,251		121,251		122,599
Construction in progress
Property, Plant and Equipment
Gross property, plant, and equipment	$ 7,240		$ 7,240		$ 5,234

Leases - Narrative (Details)	6 Months Ended
Leases - Narrative (Details)	Jun. 30, 2020	Jun. 30, 2019
Lessee, Lease, Description
Lease renewal term	12 years
Lease termination period	1 year
Operating lease weighted-average remaining lease term	8 years	6 years
Operating lease weighted-average discount rate	5.20%	4.90%
Finance lease weighted-average remaining lease term	2 years	1 year
Finance lease weighted-average discount rate	4.20%	4.30%
Minimum
Lessee, Lease, Description
Lease term	2 years
Maximum
Lessee, Lease, Description
Lease term	12 years

Leases - Balance Sheet Location (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Operating leases
Operating lease right of use assets	$ 17,665	$ 13,274
Operating lease liability, current	3,028	3,006
Operating lease liability, noncurrent	14,637	10,268
Total operating lease liabilities	17,665	13,274
Finance leases
Property, plant, and equipment	3,540	3,518
Accumulated amortization	(3,231)	(2,943)
Property, plant, and equipment - net	309	575
Finance lease liability, current	141	405
Finance lease liability, noncurrent	168	170
Total finance lease liabilities	$ 309	$ 575
Operating lease, liability, current, statement of financial position [extensible list]	us-gaap:AccruedLiabilitiesCurrent
Finance lease, right-of-use asset, statement of financial position [extensible list]	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
Finance lease, liability, current, statement of financial position [extensible list]	us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent
Finance lease, liability, noncurrent, statement of financial position [extensible list]	us-gaap:LongTermDebtAndCapitalLeaseObligations

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Lease, Cost [Abstract]
Amortization of finance leases	$ 183	$ 179	$ 367	$ 357
Interest on lease liabilities	19	12	37	21
Operating lease cost	916	914	1,896	1,830
Sublease income	(47)	(9)	(67)	(18)
Total lease cost	$ 1,071	$ 1,096	$ 2,233	$ 2,190

Leases - Cash Flow Components (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Operating cash flows related to operating leases	$ (2,353)	$ (2,156)
Financing cash flows related to finance leases	(367)	(378)
Right-of-use asset obtained in exchange for operating lease liability	$ 6,287	$ 1,480

Leases - Estimated Annual Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Operating Leases
Remainder of 2020	$ 1,953
2021	3,402
2022	2,763
2023	2,519
2024	2,451
2025 and thereafter	7,603
Total undiscounted lease payments	20,691
Interest	(3,026)
Total	17,665	$ 13,274
Finance Leases
Remaining 2020	107
2021	163
2022	77
2023	20
2024	11
2025 and thereafter	0
Total undiscounted lase payments	378
Interest	(69)
Total finance lease liabilities	$ 309	$ 575

Leases - Weighted Average Lease Term and Discount Rate (Details)	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Operating lease weighted-average remaining lease term	8 years	6 years
Operating lease weighted-average discount rate	5.20%	4.90%
Finance lease weighted-average remaining lease term	2 years	1 year
Finance lease weighted-average discount rate	4.20%	4.30%

Long-Term Debt - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Line of Credit Facility
Finance leases and financing agreements	$ 309	$ 575
Total	55,568	58,193
Less current maturities	(142)	(2,905)
Long-term portion	55,426	55,288
Revolving credit facility
Line of Credit Facility
Line of credit facility, amount outstanding	55,259	33,868
Term loan
Line of Credit Facility
Line of credit facility, amount outstanding	$ 0	$ 23,750

- Definition

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.

+ References + Details

Long-Term Debt - Narrative (Details)	Jun. 26, 2020 USD ($)	Apr. 30, 2019 USD ($)	Dec. 31, 2020 USD ($)	Jun. 30, 2020 USD ($)	Jun. 25, 2020 USD ($)	Dec. 31, 2019 USD ($)
Revolving credit facility
Line of Credit Facility
Line of credit facility, amount outstanding				$ 55,259,000		$ 33,868,000
Term loan
Line of Credit Facility
Line of credit facility, amount outstanding				0		$ 23,750,000
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, covenants, basket for dispositions					$ 25,000,000
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| First Amendment
Line of Credit Facility
Revolving facility usage	1.50
Line of credit, covenants, basket for dispositions	$ 40,000,000
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| First Amendment \| Inventories
Line of Credit Facility
Minimum working capital to revolving facility usage ratio	0.50
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| First Amendment \| Accounts Receivable
Line of Credit Facility
Minimum working capital to revolving facility usage ratio	0.85
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| First Amendment \| Debt Instrument, Redemption, Period One
Line of Credit Facility
Minimum leverage ratio	3.25
Maximum liquidity ratio required	3.50
Minimum interest coverage ratio	1.00
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| First Amendment \| Debt Instrument, Redemption, Period Two
Line of Credit Facility
Minimum leverage ratio	3.00
Maximum liquidity ratio required	3.25
Minimum interest coverage ratio	1.05
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| First Amendment \| Debt Instrument, Redemption, Period Three
Line of Credit Facility
Minimum leverage ratio	2.75
Maximum liquidity ratio required	3.00
Minimum interest coverage ratio	1.15
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| First Amendment \| Debt Instrument, Redemption, Period Four
Line of Credit Facility
Minimum interest coverage ratio	1.25
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 \| First Amendment
Line of Credit Facility
Debt instrument, basis spread on variable rate	1.00%
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 \| First Amendment \| Minimum
Line of Credit Facility
Debt instrument, basis spread on variable rate	2.00%
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 \| First Amendment \| Maximum
Line of Credit Facility
Debt instrument, basis spread on variable rate	3.00%
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 \| First Amendment
Line of Credit Facility
Debt instrument, basis spread on variable rate	1.00%
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 \| First Amendment \| Minimum
Line of Credit Facility
Debt instrument, basis spread on variable rate	1.00%
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 \| First Amendment \| Maximum
Line of Credit Facility
Debt instrument, basis spread on variable rate	2.00%
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| Overnight Bank Funding Rate \| First Amendment
Line of Credit Facility
Debt instrument, basis spread on variable rate	0.50%
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				1,015,000
Potential increase to borrowing capacity		$ 50,000,000
LiquidityCovenant		25,000,000
Acquisition consideration threshold, per acquisition		50,000,000
Aggregate acquisition threshold for four consecutive periods where acquisitions occurred		50,000,000
Aggregate acquisition consideration threshold		$ 100,000,000
Line of credit facility, current borrowing capacity				$ 63,726,000
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| Revolving credit facility \| First Amendment
Line of Credit Facility
Line of credit facility, maximum borrowing capacity	$ 140,000,000
Line of credit facility, accordion feature,decrease limit	120,000,000
Line of credit, accordion feature, lower borrowing capacity option	25,000,000
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| Revolving credit facility \| First Amendment \| Subsequent Event
Line of Credit Facility
Line of credit, accordion feature, lower borrowing capacity option			$ 5,000,000
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| Term loan \| First Amendment
Line of Credit Facility
Debt instrument, face amount	25,000,000
Line of credit facility, amount outstanding	$ 22,500,000

Fair Value Measurements - Narrative (Details) - Swap - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative, notional amount	$ 50,000,000		$ 50,000,000
Investment expense	$ 217,000		$ 290,000
Interest income		$ 56,000		$ 121,000

Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	$ 16	$ 17
Total assets	16	17
Interest rate swaps	1,566	480
Total liabilities	1,566	480
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	16	17
Total assets	16	17
Interest rate swaps	0	0
Total liabilities	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	0	0
Total assets	0	0
Interest rate swaps	1,566	480
Total liabilities	1,566	480
Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	0	0
Total assets	0	0
Interest rate swaps	0	0
Total liabilities	$ 0	$ 0

Earning Per Common Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator for basic and diluted earnings (loss) per common share:
Net income (loss)	$ 523	$ 9,564	$ (1,343)	$ 13,254
Denominator:
Weighted average shares outstanding (in shares)	10,557,000	10,420,000	10,518,000	10,399,000
Denominator for basic earnings per common share (in shares)	10,557,000	10,420,000	10,518,000	10,399,000
Effect of dilutive securities:
Other stock compensation plans (in shares)	66,000	222,000	0	199,000
Dilutive potential common shares (in shares)	66,000	222,000	0	199,000
Denominator for diluted earnings (loss) per common share - adjusted weighted average shares outstanding (in shares)	10,623,000	10,642,000	10,518,000	10,598,000
Basic earnings per common share (usd per share)	$ 0.05	$ 0.92	$ (0.13)	$ 1.27
Diluted earnings per common share (usd per share)	$ 0.05	$ 0.90	$ (0.13)	$ 1.25
Anti-dilutive shares (in shares)	0		131,000	0

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended		26 Months Ended
	May 29, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation		$ 558	$ 1,179	$ 1,238	$ 2,034
Expected cost on shares expected to vest		$ 5,036		$ 5,036		$ 5,036
Recognition period for compensation expense not yet recognized				3 years 9 months 18 days
Restricted Stock \| Vesting Period 2
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period				3 years
Restricted Stock \| Vesting Period 2 \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period						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)	6 Months Ended
	Jun. 30, 2020 $ / 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	$ 18.50
Weighted average shares granted (usd per share) \| $ / shares	16.80
Weighted average shares vested (usd per share) \| $ / shares	15.59
Weighted average shares adjustment for incentive awards expected to vest (usd per share) \| $ / shares	30.65
Weighted average grant date fair value, cancelled and forfeited (usd per share) \| $ / shares	20.07
Weighted average share price, ending balance (usd per share) \| $ / shares	$ 19.42
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 (in shares)	150,799
Granted (in shares)	96,676
Vested (in shares)	(72,010)
Adjustment for incentive awards expected to vest (in shares)	0
Cancelled and forfeited (in shares)	(10,394)
Nonvested Shares, Outstanding, Ending Balance (in shares)	165,071
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 (in shares)	54,078
Granted (in shares)	12,058
Vested (in shares)	0
Adjustment for incentive awards expected to vest (in shares)	0
Cancelled and forfeited (in shares)	0
Nonvested Shares, Outstanding, Ending Balance (in shares)	66,136
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 (in shares)	331,148
Granted (in shares)	105,857
Vested (in shares)	(163,224)
Adjustment for incentive awards expected to vest (in shares)	(4,827)
Cancelled and forfeited (in shares)	(27,394)
Nonvested Shares, Outstanding, Ending Balance (in shares)	241,560

Retirement Plans - Narrative (Details) $ in Thousands	6 Months Ended
Retirement Plans - Narrative (Details) $ in Thousands	Jun. 30, 2020 USD ($) plan
Defined Benefit Plan Disclosure
Defined contribution plan number	6
United States
Defined Benefit Plan Disclosure
Number of retirement plans	3
Number of defined benefit plans	1
Defined contribution plan number	2
Defined benefit plan, contributions by employer \| $	$ 150
Defined benefit plan, expected future employer contributions, current fiscal year \| $	$ 660
Canada
Defined Benefit Plan Disclosure
Defined contribution plan number	2
Number of post-retirement benefit plan	1
United Kingdom
Defined Benefit Plan Disclosure
Defined contribution plan number	2
Defined benefit plan, contributions by employer \| $	$ 152
Defined benefit plans, estimated future employer contributions in current fiscal year \| $	$ 296

Retirement Plans - Schedule Of Net Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
United States
Defined Benefit Plan Disclosure
Interest cost	$ 56	$ 162	$ 112	$ 324
Expected return on plan assets	(58)	(180)	(115)	(360)
Recognized net actuarial loss	13	31	27	63
Net periodic pension cost	11	13	24	27
United Kingdom
Defined Benefit Plan Disclosure
Interest cost	43	54	86	108
Expected return on plan assets	(58)	(61)	(116)	(122)
Amortization of prior service costs and transition amount	6	11	12	22
Recognized net actuarial loss	63	53	126	106
Net periodic pension cost	$ 54	$ 57	$ 108	$ 114

Retirement Plans - Schedule of Costs of Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Defined Contribution Plan Disclosure
Expenses associated with contributions made	$ 564	$ 832	$ 574	$ 1,527
United States
Defined Contribution Plan Disclosure
Expenses associated with contributions made	433	680	295	1,230
Canada
Defined Contribution Plan Disclosure
Expenses associated with contributions made	30	34	69	72
United Kingdom
Defined Contribution Plan Disclosure
Expenses associated with contributions made	$ 101	$ 118	$ 210	$ 225

Commitments and Contingent Liabilities - Narrative (Details) $ in Thousands		6 Months Ended
	Mar. 13, 2019 USD ($)	Jun. 30, 2020 USD ($) company	Dec. 31, 2019 USD ($)	Jun. 05, 2017 company
Product Liability Contingency
Litigation settlement amount		$ 38,000
Number of companies that received a general notice letter (company) \| company				140
Present value of remedial work		1,100,000
Undiscovered remedial work		$ 1,700,000
Anticipated clean period		13 years
Number of potentially responsible parties included in agreement \| company		100
Accrual for environmental loss		$ 6,038	$ 6,068
Uprr
Product Liability Contingency
Annual commitment amount		8,000
Uprr
Product Liability Contingency
Litigation settlement amount	$ 50,000
Litigation settlement amount, current		2,000
Litigation settlement amount, non-current		$ 48,000
Payment period		6 years

Commitments and Contingent Liabilities - Schedule of Product Warranty Liability (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020 USD ($)
Movement in Standard Product Warranty Accrual
Beginning balance	$ 1,222
Additions to warranty liability	361
Warranty liability utilized	(395)
Ending balance	$ 1,188

Commitments and Contingent Liabilities - Future Payments (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2020	$ 6,000
2021	8,000
2022	8,000
2023	8,000
2024	8,000
Total	$ 38,000

Commitments and Contingent Liabilities - Environmental Loss Contingencies (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020 USD ($)
Accrual for Environmental Loss Contingencies
Environmental liability, beginning balance	$ 6,068
Environmental obligations utilized	(30)
Environmental liability, ending balance	$ 6,038

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income tax expense	$ (1,093)	$ (1,685)	$ (265)	$ (2,323)
Pre-tax income	$ 1,616	$ 11,249	$ (1,078)	$ 15,577
Effective income tax rate (percent)	67.60%	15.00%	(24.60%)	14.90%
Effective income tax rate reconciliation, tax exempt income, amount	$ (1,563)		$ (1,563)
Asset impairments	$ 6,514		$ 3,847	$ 0

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details