0000352825-23-000034 | 10-K | XBRL Viewer

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Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2022	Feb. 28, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	0-10436
Entity Registrant Name	L.B. FOSTER COMPANY
Entity Incorporation, State	PA
Entity Tax Identification Number	25-1324733
Entity Address, Street Address	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(s)	FSTR
Name of Each Exchange On Which Registered	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 133,127,563
Entity Common Stock, Shares Outstanding		10,958,727
Documents Incorporated by Reference	Portions of the Definitive Proxy Statement for the 2023 Annual Meeting of Shareholders (“2023 Proxy Statement”) are incorporated by reference in Items 10, 11, 12, 13 and 14 of Part III of this Form 10-K. The 2023 Proxy Statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this Form 10-K relates.
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0000352825

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Pittsburgh, Pennsylvania
Auditor Firm ID	42

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 2,882	$ 10,372
Accounts receivable - net (Note 6)	82,455	55,911
Contract assets (Note 4)	33,613	36,179
Inventories - net (Note 7)	75,721	62,871
Other current assets	11,061	14,146
Total current assets	205,732	179,479
Property, plant, and equipment - net (Note 8)	85,344	58,222
Operating lease right-of-use assets - net (Note 9)	17,291	15,131
Other assets:
Goodwill (Note 5)	30,733	20,152
Other intangibles - net (Note 5)	23,831	31,023
Deferred tax assets (Note 14)	24	37,242
Other assets	2,355	1,346
TOTAL ASSETS	365,310	342,595
Current liabilities:
Accounts payable	48,782	41,411
Deferred revenue (Note 4)	19,452	13,411
Accrued payroll and employee benefits	10,558	9,517
Current portion of accrued settlement (Note 18)	8,000	8,000
Current maturities of long-term debt (Note 10)	127	98
Other accrued liabilities	16,192	13,757
Total current liabilities	103,111	86,194
Long-term debt (Note 10)	91,752	31,153
Deferred tax liabilities (Note 14)	3,109	3,753
Long-term portion of accrued settlement (Note 18)	8,000	16,000
Long-term operating lease liabilities (Note 9)	14,163	12,279
Other long-term liabilities	7,577	9,606
Stockholders’ equity:
Common stock, par value $0.01, authorized 20,000,000 shares; shares issued at December 31, 2022 and December 31, 2021, 11,115,779; shares outstanding at December 31, 2022 and December 31, 2021, 10,776,827 and 10,670,343, respectively (Note 11)	111	111
Paid-in capital	41,303	43,272
Retained earnings	123,169	168,733
Treasury stock - at cost, common stock, shares at December 31, 2022 and December 31, 2021, 338,952 and 445,436, respectively (Note 11)	(6,240)	(10,179)
Accumulated other comprehensive loss (Note 12)	(21,165)	(18,845)
Total L.B. Foster Company stockholders’ equity	137,178	183,092
Noncontrolling interest	420	518
Total stockholders’ equity	137,598	183,610
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 365,310	$ 342,595

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
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, shares issued (in shares)	11,115,779	11,115,779
Common stock, shares outstanding (in shares)	10,776,827	10,670,343
Treasury stock shares - at cost, common stock (in shares)	338,952	445,436

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Total net sales (Note 4)	$ 497,497	$ 513,620
Total cost of sales	407,886	427,318
Gross profit	89,611	86,302
Selling and administrative expenses	82,657	75,995
Amortization expense (Note 5)	6,144	5,836
Goodwill and long-lived assets impairment charges (Note 5)	8,016	0
Operating (loss) income	(7,206)	4,471
Interest expense - net	3,340	2,956
Other income - net (Note 19)	(1,550)	(3,075)
(Loss) income from continuing operations before income taxes	(8,996)	4,590
Income tax expense (Note 14)	36,681	1,119
Net (loss) income	(45,677)	3,471
Net loss attributable to noncontrolling interest	(113)	(83)
Net (loss) income attributable to L.B. Foster Company	(45,564)	3,554
Income from discontinued operations before income taxes	0	72
Income tax expense (Note 14)	0	0
Income from discontinued operations	0	72
Net (loss) income attributable to L.B. Foster Company	$ (45,564)	$ 3,626
Basic (loss) earnings per common share:
From continuing operations (usd per share)	$ (4.25)	$ 0.33
From discontinued operations (usd per share)	0	0.01
Basic (loss) earnings per common share (usd per share)	(4.25)	0.34
Diluted (loss) earnings per common share:
From continuing operations (usd per share)	(4.25)	0.33
From discontinued operations (usd per share)	0	0.01
Diluted (loss) earnings per common share (usd per share)	$ (4.25)	$ 0.34
Sales of goods
Total net sales (Note 4)	$ 436,821	$ 450,241
Total cost of sales	355,106	374,366
Sales of services
Total net sales (Note 4)	60,676	63,379
Total cost of sales	$ 52,780	$ 52,952

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

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Statement of Comprehensive Income [Abstract]

Net (loss) income from continuing operations

$ (45,677)

$ 3,471

Other comprehensive (loss) income, net of tax:

Foreign currency translation adjustment

(5,639)

(920)

Unrealized gain on cash flow hedges, net of tax expense of $0 and $44, respectively

1,755

131

Cash flow hedges reclassified to earnings, net of tax expense of $0 and $235, respectively

159

703

Pension and post-retirement benefit plans benefit, net of tax benefit of $357 and $422, respectively

1,352

1,436

Reclassification of pension liability adjustments to earnings, net of tax expense of $6 and benefit of $19, respectively*

^[1]

Total comprehensive (loss) income from continuing operations

(47,997)

4,876

Less comprehensive loss attributable to noncontrolling interest:

Net loss attributable to noncontrolling interest

(113)

(83)

Foreign currency translation adjustment

(18)

Amounts attributable to noncontrolling interest

(98)

(101)

Comprehensive (loss) income from continuing operations attributable to L.B. Foster Company

$ (47,899)

$ 4,977

[1]	Reclassifications out of Accumulated other comprehensive loss for pension obligations are reflected in Selling and administrative expense.

Consolidated Statements of Comprehensive (Loss) Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Unrealized gain (loss) on cash flow hedge, tax	$ 0	$ 44
Cash flow hedges reclassified to earnings, tax	0	235
Pension and post-retirement benefit plan, tax	357	422
Reclassification of pension liability adjustments to earnings, tax	$ (6)	$ 19

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (45,677)	$ 3,471
Adjustments to reconcile net (loss) income to cash (used in) provided by continuing operating activities:
Deferred income taxes	35,785	139
Depreciation	8,635	8,051
Amortization	6,144	5,836
Asset impairments	8,016	0
Equity income in nonconsolidated investment	(74)	(7)
(Gain) loss on sales and disposals of property, plant, and equipment	(177)	51
Stock-based compensation	2,380	1,945
Loss (gain) on asset divestiture	214	(2,741)
Change in operating assets and liabilities:
Accounts receivable	(25,061)	2,294
Contract assets	(540)	1,325
Inventories	(11,798)	(3,973)
Other current assets	3,555	367
Other noncurrent assets	(2,136)	158
Accounts payable	10,066	(13,641)
Deferred revenue	4,649	6,285
Accrued payroll and employee benefits	1,225	344
Accrued settlement	(8,000)	(8,000)
Other current liabilities	876	(2,407)
Other liabilities	1,342	(307)
Net cash used in continuing operating activities	(10,576)	(810)
Net cash used in discontinued operating activities	0	(253)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from the sale of property, plant, and equipment	267	30
Capital expenditures on property, plant, and equipment	(7,633)	(4,620)
Acquisitions, net of cash acquired	(57,852)	(229)
Proceeds from asset divestiture	8,800	22,707
Capital contributions to nonconsolidated investment	0	(66)
Net cash (used in) provided by continuing investing activities	(56,418)	17,822
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of debt	(188,437)	(183,372)
Proceeds from debt	249,269	169,637
Debt issuance costs	(182)	(406)
Treasury stock acquisitions	(410)	(732)
Investment of noncontrolling interest	0	969
Net cash provided by (used in) continuing financing activities	60,240	(13,904)
Effect of exchange rate changes on cash and cash equivalents	(736)	(47)
Net (decrease) increase in cash and cash equivalents	(7,490)	2,808
Cash and cash equivalents at beginning of period	10,372	7,564
Cash and cash equivalents at end of period	2,882	10,372
Supplemental disclosure of cash flow information:
Interest paid	2,701	2,615
Income taxes (received) paid	$ (5,007)	$ 1,491

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Beginning balance at Dec. 31, 2020	$ 176,830	$ 111	$ 44,583	$ 165,107	$ (12,703)	$ (20,268)	$ 0
Increase (Decrease) in Stockholders' Equity
Net income (loss)	3,543			3,626			(83)
Other comprehensive (loss) income, net of tax:
Pension liability adjustment	1,491					1,491
Foreign currency translation adjustment	(920)					(902)	(18)
Unrealized derivative loss on cash flow hedges	131					131
Cash flow hedges reclassified to earnings	703					703
Issuance of common shares net of shares withheld for taxes	(732)		(3,256)		2,524
Stock-based compensation	1,945		1,945
Investment of noncontrolling interest	619						619
Ending balance at Dec. 31, 2021	183,610	111	43,272	168,733	(10,179)	(18,845)	518
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(45,677)			(45,564)			(113)
Other comprehensive (loss) income, net of tax:
Pension liability adjustment	1,405					1,405
Foreign currency translation adjustment	(5,624)					(5,639)	15
Unrealized derivative loss on cash flow hedges	1,755					1,755
Cash flow hedges reclassified to earnings	159					159
Issuance of common shares net of shares withheld for taxes	(410)		(4,349)		3,939
Stock-based compensation	2,380		2,380
Ending balance at Dec. 31, 2022	$ 137,598	$ 111	$ 41,303	$ 123,169	$ (6,240)	$ (21,165)	$ 420

Consolidated Statements of Stockholders' Equity (Parenthetical) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Common shares issues net of shares withheld (in shares)	106,484	107,053

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Organization, operations, and basis of consolidation The consolidated financial statements include the accounts of L.B. Foster Company and its wholly-owned subsidiaries, joint ventures, and partnerships in which a controlling interest is held. Inter-company transactions and accounts have been eliminated. The Company utilizes the equity method of accounting for companies where its ownership is less than or equal to 50% and significant influence exists. L.B. Foster Company (together with its subsidiaries, the “Company”) is a global technology solutions provider of engineered, manufactured products and services that builds and supports infrastructure. The Company’s innovative engineering and product development solutions address the safety, reliability, and performance needs of its customers’ most challenging requirements. The Company maintains locations in North America, South America, Europe, and Asia. The Company is organized and operates in three reporting segments: Rail, Technologies, and Services (“Rail”), Precast Concrete Products (“Precast”), and Steel Products and Measurement. The Rail segment is comprised of several manufacturing and distribution businesses that provide a variety of products and services for freight and passenger railroads and industrial companies throughout the world. The Precast segment is composed of five precast concrete manufacturing facilities across the United States (“U.S.”) providing engineered precast concrete solutions. The Steel Products and Measurement segment is composed of fabricated bridge, protective coating, threading, and precision measurement offerings across North America. On June 21, 2022, the Company acquired the stock of Skratch Enterprises Ltd. (“Skratch”) for $7,402, which is inclusive of deferred payments withheld by the Company of $1,228, to be paid over the next five years or utilized to satisfy post-closing working capital adjustments or indemnity claims under the purchase agreement. Skratch has been included in the Company’s Technology Services and Solutions business unit within the Rail segment. On August 1, 2022 the Company divested the assets of its Track Components business for $7,795 in cash proceeds, subject to indemnification obligations and working capital adjustments. The Track Components business was reported in the Rail Products business unit within the Rail segment. On August 12, 2022, the Company acquired the operating assets of VanHooseCo Precast LLC (“VanHooseCo”) for $52,146, net of cash acquired at closing, subject to the finalization of net working capital adjustments. An amount equal to $2,500 of the purchase price was deposited into an escrow account to cover breaches of representations and warranties. VanHooseCo has been included in the Company’s Precast segment. On September 24, 2021, the Company completed the sale of its Piling Products business for $23,902 in total proceeds. The Company retained all pre-closing receivables and liabilities associated with the division. The sale included substantially all inventory associated with the division, as well as the related fixed assets. The Piling Products business was included in the Fabricated Steel Products business unit within the Steel Products and Measurement segment. Use of estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates, judgements, and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates and changes in these estimates are recorded when known. Significant accounting policies Cash and cash equivalents The Company considers cash and other instruments with maturities of three months or less when purchased to be cash and cash equivalents. The Company invests available funds in a manner to preserve investment principal and maintain liquidity, while seeking the highest yield available. Cash and cash equivalents held in non-domestic accounts were $2,012 and $6,168 as of December 31, 2022 and 2021, respectively. Accounts Receivable Trade receivables are carried at their estimated collectible amounts. Trade credit is generally extended on a short-term basis; thus trade receivables do not bear interest. Credit is extended based upon an evaluation of the customer’s financial condition and, while collateral is not required, the Company periodically receives surety bonds that guarantee payment. Credit terms are consistent with industry standards and practices. Inventory Inventory is valued at the lower of average cost or net realizable value. Slow-moving inventory is reviewed and adjusted regularly, based upon product knowledge, physical inventory observation, inventory turnover, and the age of the inventory. Inventory contains product costs, including materials, inbound freight, direct labor, overhead costs relating to the manufacturing and distribution of products, and absorption costs representing the excess manufacturing or production costs over the amounts charged to the cost of sales or services. Property, plant, and equipment Depreciation and amortization are provided on a straight-line basis over the estimated useful lives of 8 to 40 years for buildings and 2 to 50 years for machinery and equipment. Leasehold improvements are amortized over 7 to 19 years, which represent the lives of the respective leases or the lives of the improvements, whichever is shorter. Depreciation expense is recorded within “Cost of goods sold,” “Cost of services sold,” and “Selling and administrative expenses” on the Consolidated Statements of Operations based upon the particular asset’s use. The Company reviews a long-lived asset for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. The Company recognizes an impairment loss if the carrying amount of a long-lived asset is not recoverable and exceeds its fair value. There were no material property, plant, and equipment impairments recorded for the years ended December 31, 2022 and 2021. Maintenance, repairs, and minor renewals are charged to operations as incurred. Major renewals and betterments that substantially extend the useful life of the property are capitalized at cost. Upon the sale or other disposition of assets, the costs and related accumulated depreciation and amortization are removed from the accounts and the resulting gain or loss, if any, is reflected in “Other income - net” in the Consolidated Statements of Operations. Allowance for credit losses 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, bad debt expense experience, current and expected market conditions, and any other relevant subjective adjustments as needed. Trade receivables are pooled within the calculation based on a range of ages, grouping receivables of similar credit risk together. Reserve thresholds to calculate the allowance for credit loss are based on historic collection patterns, bad debt expense incurred, and expected future trends of collections. Management maintains high-quality credit review practices and positive customer relationships that mitigate credit risks. The Company’s reserves are regularly reviewed and revised as necessary. Reserves for uncollectible accounts are recorded as part of “Selling and administrative expenses” in the Consolidated Statements of Operations. The Company has also established policies regarding allowance for credit losses associated with contract assets, which includes standalone reserve assessments for its long term, complex contracts as needed as well as detailed regular review and updates to contract margins, progress, and value. A standard reserve threshold is applied contract assets related to short term, less complex contracts. Management also regularly reviews collection patterns and future expected collections and makes necessary revisions to allowance for credit losses related to contract assets. Goodwill and other intangible assets Goodwill is the cost of an acquisition less the fair value of the identifiable net assets of the acquired business. Goodwill is tested annually for impairment or more often if there are indicators of impairment within a reporting unit. A reporting unit is an operating segment or a component of an operating segment for which discrete financial information is available and reviewed by management on a regular basis. There was no change to the reporting units as a result of the 2021 change in reporting segments. The goodwill impairment test involves comparing the fair value of a reporting unit to its carrying value, including goodwill. If the carrying amount of the reporting unit exceeds its fair value, an impairment loss equal to the excess amount up to the goodwill balance is recorded as a component of operations. The Company performs its annual impairment tests in the fourth quarter. The Company’s fourth quarter 2022 annual test included the assessment of a quantitative analysis to determine whether it was more likely than not that the fair value of each reporting unit is less than its carrying value. The quantitative assessment considers fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company’s quantitative analysis considered and evaluated each of the three traditional approaches to value: the income approach, the market approach, and the asset approach. The Company primarily relied on the discounted cash flow method within the income approach to value the reporting units. Any impairment charges are based on both historic and future expected business results that no longer support the carrying value of the reporting unit. The Company also monitors the recoverability of the long-lived assets associated with certain reporting units of the Company and the long-term financial projections of the businesses to assess for asset impairment. The Company has no indefinite-lived intangible assets. The Company reviews a long-lived intangible asset for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. All intangible assets are amortized over their estimated useful lives. Environmental remediation and compliance Environmental remediation costs are accrued when a liability is probable and costs are estimable. Environmental compliance costs, which principally include the disposal of waste generated by routine operations, are expensed as incurred. Capitalized environmental costs, when appropriate, are depreciated over their useful life. Reserves are not reduced by potential claims for recovery and are not discounted. Claims for recovery are recognized as agreements are reached with third parties or as amounts are received. Reserves are periodically reviewed throughout the year and adjusted to reflect current remediation progress, prospective estimates of required activity, and other factors that may be relevant, including changes in technology or regulations. Revenue recognition The Company’s revenues are comprised of product and service sales, including products and services provided under long-term agreements with its customers. All revenue is recognized when the Company satisfies its performance obligations under the respective contract, either implicit or explicit, by transferring the promised product or rendering a service to its customer either when or as its customer obtains control of the product or the service is rendered. Deferred revenue consists of customer billings or payments received for which the revenue recognition criteria have not yet been met as well as contract liabilities (billings in excess of costs) on over time contracts. Advance payments from customers typically relate to contracts for which the Company has significantly fulfilled its obligations, but due to the Company’s continuing involvement with the project, revenue is precluded from being recognized until the performance obligation is met for the customer. Product warranty The Company maintains a current warranty liability for the repair or replacement of defective products. For certain manufactured products, an accrual is made on a monthly basis as a percentage of cost of sales based upon historical experience. For long-lived construction products, a warranty is established when the claim is known and quantifiable. The product warranty accrual is periodically adjusted based on the identification or resolution of known individual product warranty claims or due to changes in the Company’s historical warranty experience. As of December 31, 2022 and 2021, the product warranty reserve was $870 and $1,042, respectively. Income taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases. Deferred taxes are measured using enacted tax laws and rates expected to be in effect when such differences are recovered or settled. The effect of a change in tax rates on deferred taxes is recognized in income in the period that includes the enactment date of the change. The Company has also elected to record income taxes associated with global intangible low-taxed income (“GILTI”) as period costs if and when incurred. The Company makes judgments regarding the recognition of deferred tax assets and the future realization of these assets. As prescribed by the FASB’s ASC 740, “Income Taxes” and applicable guidance, valuation allowances must be provided for those deferred tax assets for which it is more likely than not (a likelihood of more than 50%) that some portion or all of the deferred tax assets will not be realized. The guidance requires the Company to evaluate positive and negative evidence regarding the recoverability of deferred tax assets. The determination of whether the positive evidence outweighs the negative evidence and quantification of the valuation allowance requires the Company to make estimates and judgments of future financial results. The Company has concluded that for purposes of quantifying valuation allowances, it would be appropriate to consider the reversal of taxable temporary differences related to indefinite-lived intangible assets when assessing the realizability of deferred tax assets that upon reversal, would give rise to operating losses that do not expire. The Company evaluates all tax positions taken on its federal, state, and foreign tax filings to determine if the position is more likely than not to be sustained upon examination. For positions that meet the more likely than not to be sustained criteria, the largest amount of benefit to be realized upon ultimate settlement is determined on a cumulative probability basis. A previously recognized tax position is derecognized when it is subsequently determined that a tax position no longer meets the more likely than not threshold to be sustained. The evaluation of the sustainability of a tax position and the expected tax benefit is based on judgment, historical experience, and various other assumptions. Actual results could differ from those estimates upon subsequent resolution of identified matters. The Company accrues interest and penalties related to unrecognized tax benefits in its provision for income taxes. Foreign currency translation The assets and liabilities of the Company’s foreign subsidiaries are measured using the local currency as the functional currency and are translated into U.S. dollars at exchange rates as of the balance sheet date. Income statement amounts are translated at the weighted-average rates of exchange during the year. The translation adjustment is accumulated as a separate component of “Accumulated other comprehensive loss” within the Consolidated Balance Sheets. Foreign currency transaction gains and losses are included in “Other income or expense.” For the years ended December 31, 2022 and 2021, foreign currency transaction loss of $434 and $452, respectively, were included in “Other income - net” in the Consolidated Statements of Operations. Research and development The Company expenses research and development costs as costs are incurred. For the years ended December 31, 2022 and 2021, research and development expenses were $2,219 and $2,233, respectively, and were principally related to the Company’s friction management and railroad monitoring system products within the Rail segment. Recently issued accounting guidance In March 2020, the FASB issued Accounting Standards Update 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. The Company did not identify any material impact from the provision of ASU 2020-04 on its financial condition, results of operations, and cash flows.

Business Segments

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Business Segments

The Company is a global solutions provider of engineered, manufactured products and services that builds and supports infrastructure. The Company’s innovative engineering and product development solutions address the safety, reliability, and performance needs of its customers’ challenging requirements. The Company maintains locations in North America, South America, Europe, and Asia where it markets its products and services primarily through an internal sales force. The Company has three reporting segments: the Rail, Technologies, and Services segment, the Precast Concrete Products segment, and the Steel Products and Measurement segment. The Company’s 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 uses such information to make 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. The Company considers the aggregation of operating segments into reporting segments based on nature of offerings, nature of production services, the type or class of customer for products and services, methods used to distribute products and services, and economic and regulatory environment conditions.

The Company’s Rail, Technologies, and Services reporting segment is the aggregation of the Rail Products and Global Friction Management and the Technology Services and Solutions operating segments, which was evaluated based on the factors outlined above. The Rail, Technologies, and Services reporting segment engineers, manufactures, and assembles friction management products and railway wayside data collection, application systems, railroad condition monitoring systems and equipment, wheel impact load detection systems, management systems, and provides services for these products. The Rail, Technologies, and Services segment also provides a full line of new and used rail, trackwork, and accessories to railroads, mines, and other customers in the rail industry as well as designs and produces insulated rail joints, power rail, track fasteners, concrete railroad ties, coverboards, and special accessories for mass transit and other rail systems. In addition, the Rail, Technologies, and Services segment provides controls, display, and telecommunication contract management solutions for the transit, control room, and customer information and display sectors to enhance safety, operational efficiency, and customer experience. On June 21, 2022, the Company acquired the stock of Skratch, located in Telford, United Kingdom, which offers a single-point supply solution model for clients, and enabling large scale deployments of its intelligent digital signage solutions. Skratch’s service offerings include design, prototyping and proof of concept, hardware and software, logistics and warehousing, installation, maintenance, content management, and managed monitoring. Skratch has been included in the Company’s Technology Services and Solutions business unit within the Rail, Technologies, and Services segment. Additionally, on August 1, 2022, the Company divested its Track Components business located in St-Jean-sur-Richelieu, Quebec, Canada, which resulted in a pre-tax loss of $467. Results of the Track Components business are included in the Company’s Rail Products business unit within the Rail, Technologies, and Services segment.

The Company’s Precast Concrete Products segment produces precast concrete buildings and a variety of specialty precast concrete products for use in several infrastructure end markets, including transportation and general infrastructure. Precast concrete buildings are primarily used as restrooms, concession stands, and protective storage buildings in national, state, and municipal parks, while other precast products include sound walls, bridge beams, box culverts, septic tanks, and other custom pre-stressed products. On August 12, 2022, the Company acquired the operating assets of VanHooseCo, a privately-held business headquartered in Loudon, Tennessee, specializing in precast concrete walls, water management products, and traditional precast products for the industrial, commercial, and residential infrastructure markets and has been included in the Precast Concrete Products segment.

The Company’s Steel Products and Measurement segment sells bridge decking, bridge railing, structural steel fabrications, expansion joints, bridge forms and other products for highway construction and repair. This segment also produces threaded pipe products for industrial water well and irrigation markets as well as the oil and gas markets. Lastly, this segment provides pipe coatings for oil and gas pipelines and utilities, precision measurement systems for the oil and gas market. On September 24, 2021, the Company completed the sale of its Piling Products business. The Company retained all pre-closing receivables and liabilities associated with the business. The sale included substantially all inventory and fixed assets held by the Company associated with the division. Results of the Piling Products business were included in the Company’s Steel Products and Measurement segment.

Segment profit from operations includes allocated corporate operating expenses. Operating expenses related to corporate headquarter functions were allocated to each segment 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. Other income and expenses, interest, income taxes, and certain other items are managed on a consolidated basis. Management believes the allocation of corporate operating expenses provides an accurate presentation of how the segments utilize corporate support activities. This provides the CODM meaningful segment profitability information to support operating decisions and the allocation of resources.

The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies found in Note 1.

The operating results and assets of the Company’s reportable segments were as follows as of and for the year ended December 31, 2022:


	2022
	Net Sales		Segment Operating Profit (Loss)		Segment Assets		Depreciation/Amortization		Expenditures for Long-Lived Assets
Rail, Technologies, and Services	$	300,592	$	11,454	$	172,111	$	5,620	$	1,218
Precast Concrete Products	104,212		1,692		108,598		3,162		2,833
Steel Products and Measurement	92,693		(10,824)		54,516		4,502		267
Total	$	497,497	$	2,322	$	335,225	$	13,284	$	4,318

The operating results and assets of the Company’s reportable segments were as follows as of and for the year ended December 31, 2021:


	2021
	Net Sales		Segment Operating Profit (Loss)		Segment Assets		Depreciation/Amortization		Expenditures for Long-Lived Assets
Rail, Technologies, and Services	$	299,749	$	14,165	$	171,608	$	6,089	$	1,081
Precast Concrete Products	70,990		1,545		48,740		1,716		2,441
Steel Products and Measurement	142,881		(2,402)		58,377		4,738		78
Total	$	513,620	$	13,308	$	278,725	$	12,543	$	3,600

During 2022 and 2021, no single customer accounted for more than 10% of the Company’s consolidated net sales. Sales between segments were immaterial and eliminated in consolidation.

Reconciliations of reportable segment net sales, profits, assets, depreciation/amortization, and expenditures for long-lived assets to the Company’s consolidated totals are as follows as of and for the years ended December 31:


	2022		2021
Income from operations:
Total segment operating profit	$	2,322	$	13,308
Interest expense - net	(3,340)		(2,956)
Other income - net	1,550		3,075

Corporate expense and other unallocated charges	(9,528)		(8,837)
(Loss) income from continuing operations before income taxes	$	(8,996)	$	4,590
Assets:
Total segment assets	$	335,225	$	278,725
Unallocated corporate assets	30,085		63,870

Assets	$	365,310	$	342,595
Depreciation/Amortization:
Total segment depreciation/amortization	$	13,284	$	12,543
Corporate depreciation/amortization	1,495		1,344
Depreciation/amortization	$	14,779	$	13,887
Expenditures for Long-Lived Assets:
Total segment expenditures for long-lived assets	$	4,318	$	3,600

Corporate expenditures for long-lived assets	3,315		1,020
Expenditures for long-lived assets	$	7,633	$	4,620

The following table summarizes the Company’s sales by major geographic region in which the Company had operations for the years ended December 31:


	2022		2021
United States	$	378,339	$	391,218
Canada	38,489		36,477
United Kingdom	46,590		57,600
Other	34,079		28,325
Total net sales	$	497,497	$	513,620

The following table summarizes the Company’s long-lived assets by geographic region as of December 31:


	2022		2021
United States	$	82,846	$	53,527
Canada	110		2,597
United Kingdom	1,533		1,668
Other	855		430
Total property, plant, and equipment - net	$	85,344	$	58,222

The following table summarizes the Company’s sales by major product and service line for the years ended December 31:


	December 31,
		2022		2021
Rail Products and Global Friction Management		$	255,713	$	248,237
Technology Services and Solutions		44,879		51,512
Rail, Technologies, and Services		300,592		299,749
Precast Concrete Buildings		61,143		55,993
Other Precast Concrete Products		43,069		14,997
Precast Concrete Products		104,212		70,990
Coatings and Measurement		38,329		27,833
Fabricated Steel Products		54,364		115,048
Steel Products and Measurement		92,693		142,881
Total net sales		$	497,497	$	513,620

- 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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Acquisitions and Divestitures

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Acquisitions and Divestitures

Skratch Enterprises Ltd.

On June 21, 2022, the Company acquired the stock of Skratch for $7,402, which is inclusive of deferred payments withheld by the Company of $1,228, to be paid over the next five years or utilized to satisfy post-closing working capital adjustments or indemnity claims under the purchase agreement. Located in Telford, United Kingdom, Skratch offers a single-point supply solution model for clients, and enables large scale deployments of its intelligent digital signage solutions. Skratch’s service offerings include design, prototyping and proof of concept, hardware and software, logistics and warehousing, installation, maintenance, content management, and managed monitoring. Skratch has been included in the Company’s Technology Services and Solutions business unit within the Rail, Technologies, and Services segment.

VanHooseCo Precast LLC

On August 12, 2022, the Company acquired the operating assets of VanHooseCo, a privately-held business headquartered in Loudon, Tennessee specializing in precast concrete walls, water management products, and traditional precast products for the industrial, commercial, and residential infrastructure markets. The Company acquired VanHooseCo for $52,146, net of cash acquired at closing, subject to the finalization of net working capital adjustments. An amount equal to $2,500 of the purchase price was deposited in an escrow account in order to cover breaches of representations and warranties. The acquisition agreement includes two employment agreements whereby principals have the ability to earn up to an additional $1,000 dependent upon the successful completion of the principals’ employment agreements. VanHooseCo has been included in the Company’s Precast Concrete Products segment.

Acquisition Summary

Each transaction was accounted for under the acquisition method of accounting under U.S. GAAP which requires an acquiring entity to recognize, with limited exceptions, all of the assets acquired and liabilities assumed in a transaction at fair value as of the

acquisition date. Goodwill primarily represents the value paid for each acquisition’s enhancement to the Company’s product and service offerings and capabilities, as well as a premium payment related to the ability to control the acquired assets, as well as the assembled workforce provided. Acquisition costs for the year ended December 31, 2022 were $2,043 and were recognized as part of the Company’s selling and administrative expenses.

VanHooseCo contributed net sales of $17,788 and operating profit of $1,555 to the Company’s consolidated results for the period from August 12, 2022 through December 31, 2022.

The table below summarizes the Company’s results as though the VanHooseCo acquisition had been completed on January 1, 2022. Certain of VanHooseCo’s historical amounts were reclassified to conform to the Company’s financial presentation of operations, which included recording inventory and property, plant, and equipment at fair market value, to establish intangible assets, to remove deferred compensation expense, and to include interest expense for the additional borrowings. The following unaudited pro forma information is provided for informational purposes only and does not represent what consolidated results of operations would have been had the VanHooseCo acquisition occurred on January 1, 2021 nor are they necessarily indicative of future consolidated results of operations.


	Year Ended December 31,
		2022		2021

		Unaudited
Net sales		$	522,997	$	540,359
Net (loss) income attributable to L.B. Foster Company		(44,564)		2,223
Diluted (loss) earnings per share
As reported		$	(4.25)	$	0.33
Pro forma		$	(4.16)	$	0.21

The following table summarizes estimated fair values of the assets acquired and liabilities assumed at the date of the VanHooseCo and Skratch acquisitions:


Allocation of purchase price	VanHooseCo		Skratch
Current assets, net of cash acquired on the acquisition date	$	11,138	$	1,129
Property, plant, and equipment	30,410		174
Goodwill	8,221		5,549
Other intangibles	5,442		1,750
Liabilities assumed	(3,065)		(1,200)
Total	$	52,146	$	7,402

The following table summarizes estimates of the fair values of the VanHooseCo and Skratch identifiable intangible assets acquired:


	VanHooseCo			Skratch
Identifiable intangible assets	Weighted Average Amortization Period In Years	Net Carrying Amount		Weighted Average Amortization Period In Years	Net Carrying Amount
Non-compete agreements	0	$	—	1	$	27
Customer relationships	5	3,578		3	1,349
Trademarks and trade names	10	1,537		10	374
Favorable lease	6	327		0	—
Total		$	5,442		$	1,750

The Company made an allocation of the purchase price for the VanHooseCo and Skratch acquisitions as of the acquisition date based on its understanding of the fair value of the acquired assets and assumed liabilities. These fair value measurements are classified as Level 3 in the fair value hierarchy. See Note 16 for a description of the fair value hierarchy.

Due to the timing of the acquisitions, values shown in the table above are preliminary. If new information is obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement recognized for assets or liabilities assumed, the Company will retrospectively adjust the amounts recognized as of the acquisition date.

Divestiture Summary

On August 1, 2022, the Company divested its Track Components business located in St-Jean-sur-Richelieu, Quebec, Canada. Cash proceeds from the transaction were $7,795, subject to indemnification obligations and working capital adjustments, resulting in a pre-tax loss of $467. The Track Components business was reported in the Rail Products business unit within the Rail, Technologies, and Services segment.

On September 24, 2021, the Company executed the sale of its Piling Products division for $23,902 in total proceeds resulting in a pre-tax gain of $3,230. The Piling Products division was included in the Fabricated Steel Products business unit within the Steel Products and Measurement segment.

Revenue

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue

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

The Company’s performance obligations under long-term agreements with its customers are generally satisfied over time. Over time revenue is primarily comprised of transit infrastructure projects within the Rail segment, precast concrete buildings within the Precast Concrete Products segment, and long-term bridge projects within the Fabricated Steel Products division and custom precision metering systems within the Coatings and Measurement division in the Steel Products and Measurement segment. 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. 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. The Company records contract liabilities in “Deferred revenue” within the Consolidated Balance Sheets.

Deferred revenue of $19,452 and $13,411 as of December 31, 2022 and 2021, respectively, consisted of customer billings or payments received for which the revenue recognition criteria had not yet been met as well as contract liabilities (billings in excess of costs) on over time revenue projects.

For the years ended December 31, 2022 and 2021, revenue recognized over time was as follows:


	Year Ended December 31,				Percentage of Total Net Sales Year Ended December 31,
	2022		2021		2022		2021
Over time input method	$	67,116	$	100,787	13.5	%	19.6	%
Over time output method	68,794		52,844		13.8		10.3
Total over time sales	$	135,910	$	153,631	27.3	%	29.9	%

Accounting for these long-term agreements involves the use of various techniques to estimate total revenues and costs. The Company estimates profit on these long-term agreements as the difference between total estimated revenues and expected costs to complete a contract and recognizes that profit over the life of the contract. Contract estimates are based on various assumptions to project the outcome of future events that may span several years. These assumptions include, among other things, labor productivity, cost and availability of materials, and timing of funding by customers. The nature of these long-term agreements may give rise to several types of variable consideration, such as claims, awards, and incentive fees. Contract estimates may include additional revenue for submitted contract modifications if there exists an enforceable right to the modification, the amount can be reasonably estimated, and its realization is probable. These estimates are based on historical collection experience, anticipated performance, and the Company’s best judgment at that time. These amounts are generally included in the contract’s transaction price and are allocated over the remaining performance obligations. Changes in judgments related to the estimates above, customer disputes, or changes in contract terms could impact the timing and amount of revenue recognized and, accordingly, the timing and amount of associated income. In the event that a contract loss becomes known, the entire amount of the estimated loss is recognized in the Consolidated Statements of Operations.

The majority of the Company’s revenue is from products transferred and services rendered to customers at a point in time, which is inherent in all major product and service categories. Point in time revenue accounted for 72.7% and 70.1% of revenue for the years ended December 31, 2022 and 2021, respectively. The Company recognizes revenue at the point in time in which the customer

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

For the years ended December 31, 2022 and 2021, net sales by the timing of the transfer of goods and services were as follows:


Year Ended December 31, 2022	Rail, Technologies, and Services		Precast Concrete Products		Steel Products and Measurement		Total
Point in time	$	241,759	$	43,069	$	76,759	$	361,587
Over time	58,833		61,143		15,934		135,910
Total net sales	$	300,592	$	104,212	$	92,693	$	497,497

Year Ended December 31, 2021	Rail, Technologies, and Services		Precast Concrete Products		Steel Products and Measurement		Total
Point in time	$	232,880	$	21,351	$	105,758	$	359,989
Over time	66,869		49,639		37,123		153,631
Total net sales	$	299,749	$	70,990	$	142,881	$	513,620

See Note 2 for additional information for the Company’s net sales by major product and service category.

The timing of revenue recognition, billings, and cash collections results in billed receivables, costs in excess of billings (contract assets), and billings in excess of costs (contract liabilities), included in deferred revenue on the Consolidated Balance Sheets. As of December 31, 2022 and 2021, the Company's contract asset balances were $33,613 and $36,179, respectively, with significant changes during the year due to transfers of contract assets to receivables of $15,018 and $24,501, respectively.

As of December 31, 2022 and 2021, contract liabilities, recorded within deferred revenue, were $6,781 and $3,245, respectively. Advanced payments from customers typically relate to contracts with respect to which the Company has significantly fulfilled its obligations, but due to the Company’s continuing involvement with the project, revenue is not recognized until title, ownership, and risk of loss have passed to the customer. Significant changes in contract liabilities during the year ended December 31, 2022 and 2021 included increases of $2,910 and $3,245, respectively, due to billings in excess of costs, excluding amounts recognized as revenue during the period. During the years ended December 31, 2022 and 2021, contract liabilities were reduced due to revenue recognized of $2,665 and $917, respectively, from contract liability balances.

As of December 31, 2022, the Company had approximately $272,251 of remaining performance obligations, which is also referred to as backlog. Approximately 8.3% of the backlog as of December 31, 2022 was related to projects that are anticipated to extend beyond December 31, 2023.

- 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
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+ Details

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

As of December 31, 2022 and 2021, the following table represents the goodwill balance by reportable segment:


	Rail, Technologies, and Services		Precast Concrete Products		Steel Products and Measurement		Total
Balance as of December 31, 2020:	$	14,743	$	2,586	$	3,011	$	20,340
Acquisitions	—		(22)		—		(22)
Foreign currency translation impact	(166)		—		—		(166)


Balance as of December 31, 2021:	14,577		2,564		3,011		20,152
Acquisitions	5,549		8,221		—		13,770
Foreign currency translation impact	(178)		—		—		(178)

Impairment charges	—		—		(3,011)		(3,011)
Balance as of December 31, 2022:	$	19,948	$	10,785	$	—	$	30,733

In conjunction with our annual goodwill impairment test performed during the fourth quarter of 2022, the Company determined it was necessary to perform a quantitative test for impairment of goodwill due to weakened economic conditions, unfavorable changes in foreign exchange rates, and recent increases in the cost of certain materials, labor, and other inflation-related pressures unfavorably impacted the financial results.

The Company determined the implied fair values of its reporting units by using Level 3 unobservable inputs, which incorporated assumptions that we believe would be a reasonable market participant’s view in a hypothetical purchase, to develop the discounted cash flows of the respective reporting units. Significant Level 3 inputs included estimates of future revenue growth, gross margin, and earnings before interest, taxes, depreciation, and amortization (“EBITDA”). The results of the test indicated that the

Fabricated Bridge Products reporting unit’s respective fair value was less than its carrying value. All other reporting units that maintain goodwill adequately exceeded their carrying value and were not subject to impairment. However, headroom in the Rail Technologies and Precast Concrete Products reporting units indicate that should results or future projections diverge from current expectations, the reporting units could be subject to future impairment.

As a result of the procedures performed as outlined above, the Company impaired 100% of goodwill held in the Fabricated Bridge reporting unit in the fourth quarter of 2022, resulting in a non-cash pre-tax impairment charge of $3,011.

As of December 31, 2022 and 2021, the components of the Company’s intangible assets were as follows:


	December 31, 2022
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	1	$	27	$	(16)	$	11
Patents	10	330		(187)		143
Customer relationships	16	27,184		(14,129)		13,055
Trademarks and trade names	16	7,933		(3,989)		3,944
Technology	14	32,201		(25,827)		6,374
Favorable lease	6	327		(23)		304
		$	68,002	$	(44,171)	$	23,831

	December 31, 2021
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount

Patents	10	$	385	$	(218)	$	167
Customer relationships	18	36,163		(18,222)		17,941
Trademarks and trade names	16	7,801		(4,702)		3,099
Technology	13	35,772		(25,956)		9,816
		$	80,121	$	(49,098)	$	31,023

Intangible assets are amortized over their useful lives ranging from 1 to 25 years, with a total weighted average amortization period of approximately 15 years. Amortization expense for the years ended December 31, 2022 and 2021 were $6,144 and $5,836, respectively. During the year ended December 31, 2022, the Company’s gross carrying value of customer relationships and technology intangible assets were reduced by $5,448 and $471, respectively, and the net carrying amount of customer relationships and technology intangible assets were reduced by $2,869 and $7, respectively, as a result of the August 1, 2022 disposition of the Track Components business.

Estimated annual amortization expense for the years ending December 31, 2023 and thereafter is as follows:


Year Ending December 31,
2023	$	5,268
2024	4,273
2025	2,878
2026	2,268
2027	1,953
2028 and thereafter	7,191
	$	23,831

During the year ended December 31, 2022, management performed a recoverability test on a reporting unit for which there was an indication that it was more likely that not that the carrying value of the long-lived asset group would not be recoverable. The results of this test concluded that the long-lived assets associated with the Company’s Precision Measurement Products and Systems business based in Willis, TX, which resides in the Steel Products and Measurement segment, had carrying values in excess of their fair value. Based on third party valuation and appraisal reports, the Company developed a reasonable fair value of the long-lived assets for this reporting unit. As a result of the analysis and valuation exercises performed, in the fourth quarter of 2022, the Company recorded $4,883 in non-cash, pre-tax impairment charges associated with the reporting unit’s intangible assets, equal to 100% of their carrying value. Impairment was inclusive of $3,828, $394, and $661 related to customer relationships, trade name, and developed technology, respectively.

Accounts Receivable

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Accounts Receivable

Accounts receivable as of December 31, 2022 and 2021 are summarized as follows:


	December 31,
	2022		2021
Accounts receivable	$	83,268	$	56,458
Allowance for credit losses	(813)		(547)
Accounts receivable - net	$	82,455	$	55,911

Changes in reserves for uncollectible accounts are recorded as part of “Selling and administrative expenses” in the Consolidated Statements of Operations, and were an expense of $382 and income of $87 for the years ended December 31, 2022 and 2021, respectively.

The following table sets forth the Company’s allowance for credit losses:


	Allowance for Credit Losses
December 31, 2021	$	547
Current period provision	382
Write-off against allowance	(116)

December 31, 2022	$	813

Inventory

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Inventory

Inventory is valued at average cost or net realizable value, whichever is lower. The Company’s components of inventory as of December 31, 2022 and 2021 are summarized in the following table:


	December 31,
	2022		2021
Finished goods	$	41,431	$	23,822

Work-in-process	9,693		10,738
Raw materials	24,597		28,311
Inventories - net	$	75,721	$	62,871

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, Plant, and Equipment

Property, plant, and equipment as of December 31, 2022 and 2021 consisted of the following:


	December 31,
	2022		2021
Land	$	5,284	$	6,224
Improvements to land and leaseholds	19,956		15,416
Buildings	34,814		27,206
Machinery and equipment, including equipment under finance leases	123,806		112,021
Construction in progress	5,552		1,194
Gross property, plant, and equipment	189,412		162,061
Less: accumulated depreciation and amortization, including accumulated amortization of finance leases	(104,068)		(103,839)
Property, plant, and equipment - net	$	85,344	$	58,222

Depreciation expense, including amortization of assets under finance leases, for the years ended December 31, 2022 and 2021 amounted to $8,635 and $8,051, respectively.

There were no material property, plant, and equipment impairments recorded for the year ended December 31, 2022 and 2021.

Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

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

Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of the lease payments. The Company uses the implicit rate when readily determinable. The operating lease right-of-use asset also includes indirect costs incurred and lease payments made prior to the commencement date, less any lease incentives received. The Company’s lease terms may include options to extend or terminate the lease and will be recognized when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

The Company has lease agreements with lease and non-lease components that it accounts for as a single lease component. Also, for certain equipment leases, the Company applies a portfolio approach to effectively account for the operating lease right-of-use assets and liabilities.

The Company has operating and finance leases for manufacturing facilities, corporate offices, sales offices, vehicles, and certain equipment. As of December 31, 2022, its 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 leases were as follows as of December 31, 2022 and 2021:


	December 31, 2022		December 31, 2021
Operating leases
Operating lease right-of-use assets	$	17,291	$	15,131
Other current liabilities	$	3,128	$	2,852
Long-term operating lease liabilities	14,163		12,279
Total operating lease liabilities	$	17,291	$	15,131
Finance leases
Property, plant, and equipment	$	1,442	$	1,162
Accumulated amortization	(1,130)		(1,011)
Property, plant, and equipment - net	$	312	$	151
Current maturities of long-term debt	$	127	$	98
Long-term debt	185		53
Total finance lease liabilities	$	312	$	151

The components of lease expense within the Consolidated Statements of Operations were as follows for the years ended December 31, 2022 and 2021:


	Year Ended December 31,
	2022		2021
Finance lease cost:
Amortization of finance leases	$	177	$	203
Interest on lease liabilities	34		82
Operating lease cost	2,891		2,784
Sublease income	(200)		(200)
Total lease cost	$	2,902	$	2,869

The cash flow components of the leases were as follows for the years ended December 31, 2022 and 2021:


	Year Ended December 31,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(3,440)	$	(3,342)

Financing cash flows from finance leases	(164)		(221)
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$	5,257	$	1,847

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


	December 31,
	2022		2021
Operating lease weighted-average remaining lease term	7		6
Operating lease weighted-average discount rate	5.2	%	5.2	%
Finance lease weighted-average remaining lease term	2		1
Finance lease weighted-average discount rate	3.7	%	4.1	%

As of December 31, 2022, estimated annual maturities of lease liabilities for the year ending December 31, 2023 and thereafter were as follows:


Year Ending December 31,	Operating Leases		Finance Leases
2023	$	4,002	$	160
2024	3,620		112
2025	3,043		76
2026	2,811		6
2027	2,007		—
2028 and thereafter	4,988		—
	20,471		354
Interest	(3,180)		(42)
Total	$	17,291	$	312

Leases

The balance sheet components of the leases were as follows as of December 31, 2022 and 2021:


	December 31, 2022		December 31, 2021
Operating leases
Operating lease right-of-use assets	$	17,291	$	15,131
Other current liabilities	$	3,128	$	2,852
Long-term operating lease liabilities	14,163		12,279
Total operating lease liabilities	$	17,291	$	15,131
Finance leases
Property, plant, and equipment	$	1,442	$	1,162
Accumulated amortization	(1,130)		(1,011)
Property, plant, and equipment - net	$	312	$	151
Current maturities of long-term debt	$	127	$	98
Long-term debt	185		53
Total finance lease liabilities	$	312	$	151

The components of lease expense within the Consolidated Statements of Operations were as follows for the years ended December 31, 2022 and 2021:


	Year Ended December 31,
	2022		2021
Finance lease cost:
Amortization of finance leases	$	177	$	203
Interest on lease liabilities	34		82
Operating lease cost	2,891		2,784
Sublease income	(200)		(200)
Total lease cost	$	2,902	$	2,869

The cash flow components of the leases were as follows for the years ended December 31, 2022 and 2021:


	Year Ended December 31,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(3,440)	$	(3,342)

Financing cash flows from finance leases	(164)		(221)
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$	5,257	$	1,847

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


	December 31,
	2022		2021
Operating lease weighted-average remaining lease term	7		6
Operating lease weighted-average discount rate	5.2	%	5.2	%
Finance lease weighted-average remaining lease term	2		1
Finance lease weighted-average discount rate	3.7	%	4.1	%

As of December 31, 2022, estimated annual maturities of lease liabilities for the year ending December 31, 2023 and thereafter were as follows:


Year Ending December 31,	Operating Leases		Finance Leases
2023	$	4,002	$	160
2024	3,620		112
2025	3,043		76
2026	2,811		6
2027	2,007		—
2028 and thereafter	4,988		—
	20,471		354
Interest	(3,180)		(42)
Total	$	17,291	$	312

Long-Term Debt and Related Matters

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Long-Term Debt and Related Matters

Long-term debt as of December 31, 2022 and 2021 consisted of the following:


	December 31,
	2022		2021
Revolving credit facility with an interest rate of 6.93% as of December 31, 2022 and 1.61% as of December 31, 2021	$	91,567	$	31,100


Lease obligations payable in installments through 2024 with a weighted average interest rate of 4.80% as of December 31, 2022 and 4.14% as of December 31, 2021	312		151
Total debt	91,879		31,251
Less: current maturities	(127)		(98)
Long-term portion	$	91,752	$	31,153

The expected maturities of long-term debt for December 31, 2023 and thereafter are as follows:


Year Ending December 31,
2023	$	127
2024	101
2025	75
2026	91,576
2027	—
2028 and thereafter	—
Total	$	91,879

Borrowings

On August 13, 2021, the Company, its domestic subsidiaries, and certain of its Canadian and United Kingdom subsidiaries (collectively, the “Borrowers”), entered into the Fourth Amended and Restated Credit Agreement (the “Credit Agreement”) with PNC Bank, N.A., Citizens Bank, N.A., Wells Fargo Bank, National Association, Bank of America, N.A., and BMO Harris Bank, National Association. The Credit Agreement, as amended, modifies the prior revolving credit facility, as amended, on terms more favorable to the Company and extends the maturity date from April 30, 2024 to August 13, 2026. The Credit Agreement provides for a five-year, revolving credit facility that permits aggregate borrowings of the Borrowers up to $130,000 (a $15,000 increase over the previous commitment) 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. The Credit Agreement’s incremental loan feature permits the Company to increase the available commitments 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 obligation of the Company and its domestic, Canadian, and United Kingdom subsidiaries (the “Guarantors”) under the Credit Agreement will be secured by the grant of a security interest by the Borrowers and Guarantors in substantially all of the assets 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 their subsidiaries, will be pledged to the lenders as collateral for the lending obligations.

Prior to the Credit Agreement's amendment on August 12, 2022, borrowings under the Credit Agreement were subject to interest at rates based upon either the base rate or LIBOR rate plus applicable margins. Applicable margins were dictated by the ratio of the Company’s total net indebtedness to the Company’s consolidated EBITDA for four trailing quarters, as defined in the Credit Agreement. The base rate was the highest of (a) the Overnight Bank Funding Rate plus 50 basis points, (b) the Prime Rate, or (c) the Daily LIBOR rate plus 100 basis points so long as the Daily LIBOR Rate is offered, ascertainable, and not unlawful (each as defined in the Credit Agreement). The base rate and LIBOR rate spreads ranged from 25 to 125 basis points and 125 to 225 basis points, respectively.

The Credit Agreement includes two financial covenants: (a) Maximum Gross Leverage Ratio, defined as the Company’s consolidated Indebtedness (as defined in the Credit Agreement) divided by the Company’s consolidated EBITDA, which must not exceed (i) 3.25 to 1.00 for all testing periods other than during an Acquisition Period, and (ii) 3.50 to 1.00 for all testing periods occurring during an Acquisition Period (as defined in the Credit Agreement), and (b) Minimum Consolidated Fixed Charge Coverage Ratio, defined as the Company’s consolidated EBITDA divided by the Company’s Fixed Charges (as defined in the Credit Agreement), which must be more than 1.05 to 1.00.

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 $15,000 prior to and after giving effect to such acquisition; and (c) the aggregate consideration for the acquisition does not exceed: (i) $50,000 per acquisition, so long as the Gross Leverage Ratio (as defined in the Credit Agreement) is less than or equal to 2.75 after giving effect to such acquisition; or (ii) $75,000 per acquisition, so long as the Gross Leverage Ratio is less than or equal to 1.75 after giving effect to such acquisition.

Other restrictions exist 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.

On August 12, 2022, the Company entered into a second amendment to its Credit Agreement (the “Second Amendment”) to obtain approval for the VanhooseCo acquisition and temporarily modify certain financial covenants to accommodate the transaction. The Second Amendment permitted the Company to acquire the operating assets of VanHooseCo and modified the Maximum Gross Leverage Ratio covenant through June 30, 2023 to accommodate the transaction. The Second Amendment also added an additional tier to the pricing grid and provided for the conversion from LIBOR-based to SOFR-based borrowings. Borrowings under the Credit Agreement as amended, will bear interest at rates based upon either the base rate or SOFR rate plus applicable margins. Applicable margins are dictated by the ratio of the Company’s total net indebtedness to the Company’s 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 Simple SOFR rate plus 100 basis points so long as the Daily Simple SOFR rate is offered, ascertainable, and not unlawful (each as defined in the Credit Agreement). The base rate and LIBOR rate spreads range from 25 to 150 basis points and 125 to 250 basis points, respectively.

As of December 31, 2022, the Company was in compliance with the covenants in the Credit Agreement, as amended. As of December 31, 2022 and 2021, the Company had outstanding letters of credit of approximately $619 and $544, respectively, and had net available borrowing capacity of $37,814 and $98,356, respectively, subject to covenant restrictions. The maturity date of the facility is August 13, 2026.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Stockholders' Equity

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

The Company had authorized shares of 20,000,000 in common stock with 11,115,779 shares issued as of December 31, 2022 and 2021. The common stock has a par value of $0.01 per share and the Company did not make any dividend payments during the years ended December 31, 2022 and 2021.

As of December 31, 2022 and 2021, the Company withheld 27,636 and 45,288 shares for approximately $410 and $732, respectively, from employees to pay their withholding taxes in connection with the vesting of restricted stock awards. There were no shares repurchased or dividends declared during the years ended December 31, 2022 and 2021.


	Common Stock
	Treasury	Outstanding

	(Number of Shares)



Balance at end of 2020	552,489	10,563,290
Issued for stock-based compensation plans	(107,053)	107,053

Balance at end of 2021	445,436	10,670,343
Issued for stock-based compensation plans	(106,484)	106,484

Balance at end of 2022	338,952	10,776,827

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 505
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-Section 50
-Paragraph 18
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-Publisher FASB
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+ Details

Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss, net of tax, for the years ended December 31, 2022 and 2021, were as follows:


	December 31,
	2022		2021
Pension and post-retirement benefit plan adjustments	$	(1,112)	$	(2,517)
Unrealized income on interest rate swap contracts	1,982		68
Foreign currency translation adjustments	(22,035)		(16,396)
Accumulated other comprehensive loss	$	(21,165)	$	(18,845)

Foreign currency translation adjustments are generally not adjusted for income taxes as they relate to indefinite investments in non-U.S. subsidiaries. See Note 14 for further information.

Earnings Per Common Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Earnings Per Common Share

(Share amounts in thousands)

The following table sets forth the computation of basic and diluted (loss) earnings per common share for the years ended December 31, 2022 and 2021:


	Year Ended December 31,
	2022		2021
Numerator for basic and diluted (loss) earnings per common share:
Net (loss) income from continuing operations attributable to L.B. Foster Company	$	(45,564)	$	3,554
Income from discontinued operations	—		72
Net (loss) income attributable to L.B. Foster Company	$	(45,564)	$	3,626
Denominator:
Weighted average shares outstanding	10,720		10,623
Denominator for basic earnings per common share	10,720		10,623
Effect of dilutive securities:
Stock compensation plans	—		129
Dilutive potential common shares	—		129
Denominator for diluted earnings per common share - adjusted weighted average shares outstanding and assumed conversions	10,720		10,752
Basic (loss) earnings from continuing operations per common share	$	(4.25)	$	0.33
Basic earnings from discontinued operations per common share	—		0.01
Basic (loss) earnings per common share	$	(4.25)	$	0.34
Diluted (loss) earnings from continuing operations per common share	$	(4.25)	$	0.33
Diluted earnings from discontinued operations per common share	—		0.01
Diluted (loss) earnings per common share	$	(4.25)	$	0.34

There were 75 anti-dilutive shares for the year ended December 31, 2022.

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

14. Income Taxes

(Loss) income from continuing operations before income taxes, as shown in the accompanying Consolidated Statements of Operations, includes the following components for the years ended December 31, 2022 and 2021:


	Year Ended December 31,
	2022		2021
Domestic	$	(5,074)	$	2,772
Foreign	(3,922)		1,818
(Loss) income from continuing operations, before income taxes	$	(8,996)	$	4,590

Significant components of the provision for income taxes for the years ended December 31, 2022 and 2021 were as follows:


	Year Ended December 31,
	2022		2021
Current:
Federal	$	—	$	—
State	127		(237)
Foreign	769		1,217
Total current	896		980
Deferred:
Federal	28,287		(675)
State	9,001		1,450
Foreign	(1,503)		(636)
Total deferred	35,785		139
Total income tax expense	$	36,681	$	1,119

The reconciliation of income tax computed at statutory rates to income tax expense for the years ended December 31, 2022 and 2021 is as follows:


	Year Ended December 31,
	2022				2021
	Amount		Percent		Amount		Percent
Statutory rate	$	(1,889)	21.0	%	$	964	21.0	%
Foreign tax rate differential	(306)		3.4		20		0.4
State income taxes, net of federal benefit	327		(3.6)		132		2.9

Non-deductible expenses	200		(2.2)		153		3.3
Tax benefits related to disposition of the Test and Inspection Services business	—		—		(2,130)		(46.4)


Income tax credits	(261)		2.9		(227)		(4.9)
Change in income tax rates	176		(2.0)		379		8.3
Tax on unremitted foreign earnings	439		(4.9)		(68)		(1.5)
Change in valuation allowance	37,895		(421.2)		1,807		39.4
Other	100		(1.1)		89		1.9
Total income tax expense / Effective rate	$	36,681	(407.7)	%	$	1,119	24.4	%

Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2022 and 2021 were as follows:


	December 31,
	2022		2021
Deferred tax assets:
Goodwill and other intangibles	$	8,099	$	7,047
Accrued settlement	3,915		6,000
Deferred compensation	2,396		2,165
Contingent liabilities	613		644
Net operating loss / tax credit carryforwards	30,812		28,932
Pension and post-retirement liability	297		1,218
Inventories	1,790		500
Warranty reserve	202		248
Accounts receivable	181		129
Interest deduction carryforward	775		161
Capitalized research expenditures	1,292		—
Other	644		767
Total deferred tax assets	51,016		47,811
Less: valuation allowance	(40,601)		(3,290)
Net deferred tax assets	10,415		44,521
Deferred tax liabilities:
Goodwill and other intangibles	(2,803)		(3,814)
Depreciation	(9,434)		(6,919)
Unrealized income on interest rate swap contracts	(472)		—
Unremitted earnings of foreign subsidiaries	(625)		(220)
Other	(166)		(79)
Total deferred tax liabilities	(13,500)		(11,032)
Net deferred tax (liabilities) assets	$	(3,085)	$	33,489

A valuation allowance is required to be established or maintained when, based on currently available information and other factors, it is more likely than not that all or a portion of a deferred tax asset will not be realized. The Company has considered all available evidence, both positive and negative, in assessing the need for a valuation allowance in each jurisdiction.

The Company has reported cumulative financial losses in recent years, which is a significant piece of negative evidence that typically limits a Company’s ability to consider more subjective forms of evidence. Although many of our deferred tax assets have indefinite carryforward periods, we determined it was not appropriate to place significant weight on forecasted income in future periods given the subjective nature of such forecasts and our cumulative losses in recent years. A valuation allowance of $40,601 was recorded at December 31, 2022 to recognize only the amount of deferred tax assets more likely than not to be realized. The amount of deferred tax assets considered realizable, however, could be adjusted if objective negative evidence in the form of cumulative financial losses is no longer present, and additional weight is given to subjective evidence such as our projections for growth.

As of December 31, 2022, the Company had a federal Net Operating Loss (“NOL”) carryforward of $96,034, which is limited to 80% of taxable income annually, but may be carried forward indefinitely. The Company also has federal research tax credit carryforwards in the amount of $1,531 that will expire at various times from 2036 through 2042. Based on information available as of December 31, 2022, the Company believes it is more likely than not that the tax benefits from the federal loss carryforwards and research tax credit carryforwards will not be realized. In recognition of this risk, we have provided a full valuation allowance against deferred tax assets related to federal NOL and research tax credit carryforwards at December 31, 2022.

As of December 31, 2022 and 2021, the tax benefit of NOL carryforwards available for state income tax purposes was $9,574 and $9,643, respectively. Many state NOL carryforwards will expire in various years through 2042, while some may be carried forward indefinitely. Based on information available as of December 31, 2022, the Company believes it is more likely than not that the tax benefit from state operating loss carryforwards will not be realized. In recognition of this risk, the Company has provided a full valuation allowance against deferred tax assets related to state operating loss carryforwards as of December 31, 2022.

As of December 31, 2022, the Company has NOL carryforwards in certain foreign jurisdictions of $5,068, which may be carried forward indefinitely. The foreign jurisdictions have incurred cumulative financial losses over the three-year period ended December 31, 2022 and have projected future taxable losses. Based on information available as of December 31, 2022, the Company

believes it is more likely than not that the tax benefit from these loss carryforwards will not be realized. In recognition of this risk, it has provided a valuation allowance of $948, collectively, against deferred tax assets in foreign jurisdictions as of December 31, 2022.

The determination to record or not record a valuation allowance involves managements’ judgment, based on the consideration of positive and negative evidence available at the time of the assessment. Management will continue to assess the realization of its deferred tax assets based upon future evidence, and may record adjustments to valuation allowances against deferred tax assets in future periods, as appropriate, that could materially impact net income.

Each quarter, management reviews operations and liquidity needs in each jurisdiction to assess the Company’s intent to reinvest foreign earnings outside of the United States. As of December 31, 2022, management determined that a portion of the Company’s outside basis differences in its foreign subsidiaries would not be indefinitely reinvested outside of the United States. The Company has accrued foreign withholding taxes of $625 related to $12,500 of outside basis differences in its foreign subsidiaries that are not indefinitely reinvested as of December 31, 2022. It is management’s intent and practice to indefinitely reinvest all other undistributed earnings outside of the United States. Determination of the amount of any unrecognized deferred income tax liability associated with these undistributed earnings is not practicable because of the complexities of the hypothetical calculation.

The following table provides a reconciliation of unrecognized tax benefits as of December 31, 2022 and 2021:


	December 31,
	2022		2021
Unrecognized tax benefits at beginning of period:	$	365	$	409

Decreases based on tax positions for prior periods	(11)		(44)

Balance at end of period	$	354	$	365

The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was $354 as of December 31, 2022. The Company accrues interest and penalties related to unrecognized tax benefits in its provision for income taxes. As of December 31, 2022 and 2021, the Company had accrued interest and penalties related to unrecognized tax benefits of $356 and $333, respectively. As of December 31, 2022, the Company did not expect any material increases or decreases to its unrecognized tax benefits within the next 12 months. Ultimate realization of these tax benefits is dependent upon the occurrence of certain events, including the completion of audits by tax authorities and expiration of statutes of limitations.

The Company files income tax returns in the U.S. and in various state, local, and foreign jurisdictions. The Company is subject to federal income tax examinations for the 2019 period and thereafter. With respect to the state, local, and foreign filings, certain entities of the Company are subject to income tax examinations for the 2018 period and thereafter.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Stock-based Compensation

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Stock-based Compensation

The Company applies the provisions of ASC 718, “Compensation - Stock-based Compensation,” to account for the Company’s stock-based compensation. Stock-based compensation cost is measured at the grant date based on the calculated fair value of the award and is recognized over the employees’ requisite service period. Stock forfeitures and cancellations are recognized as they occur. The Company recorded stock-based compensation expense of $2,380 and $1,945 for the years ended December 31, 2022 and 2021, respectively, related to fully-vested stock awards, restricted stock awards, and performance unit awards. As of December 31, 2022, unrecognized compensation expense for awards that the Company expects to vest approximated $2,599. The Company will recognize this unrecognized compensation expense over approximately 4.2 years.

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

As of December 31, 2022, the Company had stock awards issued pursuant to the Omnibus Plan and the Equity and Incentive Plan. The Omnibus Plan allowed for the issuance of 2,058,000 shares of common stock through the granting of stock options or stock awards (including performance units convertible into stock) to key employees and directors at no less than 100% of fair market value on the date of the grant. The Equity and Incentive Plan allows for the issuance of 854,077 shares of common stock, which includes 765,000 shares that were authorized under the Equity and Incentive Compensation Plan and 89,077 shares remaining available for the Omnibus Incentive Plan, through the granting of stock options or stock awards (including performance units and restricted stock units convertible into stock) to key employees and directors at no less than 100% of fair market value on the date of the grant. The total number of shares of common stock available for issuance, including shares that were forfeited, cancelled, expired, settled for cash, or unearned under the Omnibus Plan, were available for awards under the Equity and Incentive Plan as of its approval date. The Omnibus Plan and Equity and Incentive Plan provide for the granting of “nonqualified options” with a duration of not more than ten years from the date of grant. The Omnibus Plan and Equity and Incentive Plan also provide that, unless otherwise set forth in the option agreement, stock options are exercisable in installments of up to 25% annually beginning one year from the date of grant. No stock options have been granted under the Omnibus Plan or Equity and Incentive Plan and, as such, there was no stock-based compensation expense related to stock options recorded in 2022 and 2021.

Non-Employee Director Fully-Vested and Restricted Stock Awards

Since May 2018, non-employee directors have been awarded shares of the Company’s common stock on each date the non-employee directors were elected at the annual shareholders’ meeting to serve as directors, subject to a one-year vesting requirement.

During the quarter ended June 30, 2017, the Nomination and Governance Committee and Board of Directors jointly approved the Deferred Compensation Plan for Non-Employee Directors under the Omnibus Plan and, by amendment, under the Equity and Incentive Compensation Plan, which permits non-employee directors of the Company to defer receipt of earned cash and/or stock compensation for service on the Board.

During 2022 and 2021, the non-employee directors were granted a total of 45,840 and 35,255 restricted shares, respectively, which fully-vested as of December 31, 2022 and 2021, respectively. Compensation expense recorded by the Company related to such awards to non-employee directors was approximately $697 and $650 for the years ended December 31, 2022 and 2021, respectively. During 2022, 5,730 deferred share units were allotted to the accounts of the non-employee directors pursuant to the Deferred Compensation Plan for Non-Employee Directors.

The weighted average fair value of all the restricted stock grants awarded was $13.09 and $17.87 per share for the years ended December 31, 2022 and 2021, respectively.

Restricted Stock Awards and Performance Unit Awards

Under the Omnibus Plan, the Company grants certain employees restricted stock and performance unit awards. The forfeitable restricted stock awards granted subsequent to March 2015 generally time-vest ratably over a three-year period, unless indicated otherwise by the underlying restricted stock award agreement. Performance unit awards are offered annually under separate three-year long-term incentive programs, unless indicated otherwise by the underlying performance unit award agreement. Performance units are subject to forfeiture and will be converted into common stock 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 stock awards expected to vest changes in a subsequent accounting period, cumulative compensation expense could increase or decrease. The change is recognized in the current period for the performance unit awards and would change future expense over the remaining service period.

The following table summarizes the restricted stock award, deferred stock units, and performance unit award activity for the years ended December 31, 2022 and 2021:


	Restricted Stock	Deferred Stock Units	Performance Stock Units	Weighted Average Aggregate Grant Date Fair Value





Outstanding as of January 1, 2021	171,934	66,136	150,022	$	18.05
Granted	111,337	8,814	147,367	16.83
Vested	(144,400)	—	(7,940)	14.11
Adjustment for incentive awards	—	—	(125,767)	17.75
Canceled and forfeited	(3,167)	—	(47,111)	16.46
Outstanding as of December 31, 2021	135,704	74,950	116,571	19.75
Granted	125,582	5,730	110,600	14.88
Vested	(86,613)	(34,412)	(13,095)	17.98
Adjustment for incentive awards	—	—	(105,598)	16.67
Canceled and forfeited	(500)	—	—	18.57
Outstanding as of December 31, 2022	174,173	46,268	108,478	$	17.77

Performance units are subject to forfeiture and are 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 plan. Commencing in 2022, Performance Stock Units may be earned annually during each year of the three year program and converted into restricted stock units which settle in common stock at the end of each three year period. Performance Stock Units are adjusted to the Company’s expected performance target attainment, while the weighted average aggregate grant date fair value in the above table is based upon achieving 100% of the performance targets as defined in the underlying plan.

In June 2022, under the Equity and Incentive Plan, the Company approved the Strategy Transformation Plan performance-based incentive stock award to incentivize key personnel for the strategic transformation of the Company. Under the four-year program, participants shall be eligible for a performance stock unit award of Company common stock with 50% of the shares earned based on the achievement of EBITDA Margin and 50% of the shares earned based on the Company’s stock price.

In February 2021, under the Omnibus Plan, the Company established a performance-based incentive stock award retention program to incentivize and retain key personnel during the COVID-19 pandemic by driving stock price. Under this five-year program, participants have the opportunity to earn up to 3,333 shares of Company common stock. The first 50% of the shares (1,666 shares) are earned based on achievement of a consecutive thirty (30) day average NASDAQ closing price of $25.00. The second 50% of the shares (1,666 shares) are earned based on achievement of a consecutive thirty (30) day average NASDAQ closing price of $30.00. The value of any shares awarded will be determined using a Monte Carlo methodology at the time of payout. No shares earned are paid prior to March 1, 2024, and the program and opportunity to earn the shares expires on February 28, 2026.

Excluding the restricted stock awards granted to non-employee directors, the Company recorded stock-based compensation expense of $1,683 and $1,295, respectively, for the periods ended December 31, 2022 and 2021 related to restricted stock and performance unit awards.

Fair Value Measurements

12 Months Ended

Dec. 31, 2022

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.

The Company has an established process for determining fair value for its financial assets and liabilities, principally cash and cash equivalents and interest rate swaps. Fair value is based on quoted market prices, where available. If quoted market prices are not available, fair value is based on assumptions that use as inputs market-based parameters. The following section describes the valuation methodologies used by the Company to measure different financial instruments at fair value, including an indication of the level in the fair value hierarchy in which each instrument is generally classified. Where appropriate, the description includes details of the key inputs to the valuations and any significant assumptions.

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

SOFR-based interest rate swaps - To reduce the impact of interest rate changes on outstanding variable-rate debt, the Company amended and entered into forward-starting SOFR-based interest rate swaps, with notional values totaling $20,000 and $20,000 effective August 12, 2022 and August 31, 2022, respectively. 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 December 31, 2022 and December 31, 2021, the interest rate swaps were recorded in “Other current assets” when the interest rate swaps’ fair market value are in an asset position and “Other accrued liabilities” when in a liability position within our Consolidated Balance Sheets.

The following assets and liabilities of the Company were measured at fair value on a recurring basis subject to the disclosure requirements of ASC 820, “Fair Value Measurement” (“ASC 820”) as of December 31, 2022 and 2021:


	Fair Value Measurements as of December 31, 2022								Fair Value Measurements as of December 31, 2021
	December 31, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Term deposits	$	17	$	17	$	—	$	—	$	18	$	18	$	—	$	—
Interest rate swaps	1,930		—		1,930		—		175		—		175		—
Total assets	$	1,947	$	17	$	1,930	$	—	$	193	$	18	$	175	$	—
Interest rate swaps	$	—	$	—	$	—	$	—	$	159	$	—	$	159	$	—
Total liabilities	$	—	$	—	$	—	$	—	$	159	$	—	$	159	$	—

The $20,000 interest rate swaps that became effective August 2022 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.

The Company accounted for $50,000 of interest rate swaps that became effective February 2017 as cash flow hedges. In the third quarter of 2020, the Company dedesignated the cash flow hedges and accounted for the $50,000 interest rate swaps on a mark-to-market basis with changes in fair value recorded in current period earnings. In connection with this dedesignation, the Company froze the balances recorded in “Accumulated other comprehensive loss” at June 30, 2020 and reclassified balances to earnings as the

underlying physical transactions occurred, unless it was no longer probable that the physical transaction would occur at which time the related gains deferred in Other Comprehensive Income would be immediately recorded in earnings. The gains and losses related to the interest rate swaps were reclassified from “Accumulated other comprehensive loss” in the Consolidated Balance Sheets and included in “Interest expense - net” in the Consolidated Statements of Operations as the interest expense from the Company’s debt was recognized. These interest rate swaps expired February 2022.

For the year ended December 31, 2022 and 2021, the Company recognized interest expense of $71 and $958, respectively, from interest rate swaps.

As a result of the dedesignation of the interest rate swaps, the Company recognized interest income of $157 and $940 from the change in fair value of the interest rate swaps in “Interest expense - net” in the Consolidated Statements of Operations for the twelve months ended December 31, 2022 and 2021, respectively.

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

The gross carrying value of the Company’s revolving credit facility approximates fair value for the periods presented. Additional information regarding the revolving credit facility can be found in Note 10.

Information regarding the fair value disclosures associated with the assets of the Company’s defined benefit plans can be found in Note 17.

- 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

Retirement Plans

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Retirement Plans

The Company has three retirement plans that cover its hourly and salaried employees in the U.S.: 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, as amended (“ERISA”), and the Company’s policy and investment guidelines of the applicable plan. The Company’s policy is to contribute at least the required minimum in accordance with the funding standards of ERISA.

The Company maintains one defined contribution plans for its employees in Canada. In the United Kingdom, the Company maintains two defined contribution plans and a defined benefit plan, which is frozen. These plans are discussed in further detail below.

United States Defined Benefit Plan

The following tables present a reconciliation of the changes in the benefit obligation, the fair market value of the assets, and the funded status of the plan, as of December 31, 2022 and 2021:


	December 31,
	2022		2021
Changes in benefit obligation:
Benefit obligation at beginning of year	$	7,875	$	8,448

Interest cost	194		172
Actuarial gain	(1,544)		(319)
Benefits paid	(424)		(426)

Benefit obligation at end of year	$	6,101	$	7,875
Change to plan assets:
Fair value of assets at beginning of year	$	4,767	$	4,459
Actual (loss) gain on plan assets	(1,007)		434
Employer contribution	456		300
Benefits paid	(424)		(426)

Fair value of assets at end of year	3,792		4,767
Funded status at end of year	$	(2,309)	$	(3,108)
Amounts recognized in the consolidated balance sheets consist of:
Other long-term liabilities	$	(2,309)	$	(3,108)
Amounts recognized in accumulated other comprehensive loss consist of:
Net loss	$	1,737	$	2,082

The actuarial loss included in accumulated other comprehensive loss that will be recognized in net periodic pension cost during 2023 is $92, before taxes.

Net periodic pension costs for the years ended December 31, 2022 and 2021 were as follows:


	Year Ended December 31,
	2022		2021
Components of net periodic benefit cost:

Interest cost	$	194	$	172
Expected return on plan assets	(264)		(247)

Recognized net actuarial loss	71		99
Net periodic pension cost	$	1	$	24

The weighted average assumptions in the following table represent the rates used to develop the actuarial present value of the projected benefit obligation for the year listed and also the net periodic benefit cost for the following year.


	Year Ended December 31,
	2022		2021
Discount rate	2.6	%	2.1	%
Expected rate of return on plan assets	5.6	%	5.2	%

The expected long-term rate of return is based on numerous factors, including the target asset allocation for plan assets, historical rate of return, long-term inflation assumptions, and current and projected market conditions.

Amounts applicable to the Company’s pension plan with accumulated benefit obligations in excess of plan assets were as follows as of December 31, 2022 and 2021:


	December 31,
	2022		2021
Projected benefit obligation	$	6,101	$	7,875
Accumulated benefit obligation	6,101		7,875
Fair value of plan assets	3,792		4,767

Plan assets consist primarily of various fixed income and equity investments. The Company’s primary investment objective is to provide long-term growth of capital while accepting a moderate level of risk. The investments are limited to cash and cash equivalents, bonds, preferred stocks, and common stocks. The investment target ranges and actual allocation of pension plan assets by major category as of December 31, 2022 and 2021 were as follows:


		December 31,
	Target	2022		2021
Asset Category
Cash and cash equivalents	0 - 20%	6	%	4	%
Total fixed income funds	25 - 50%	7		14
Total mutual funds and equities	35 - 70%	87		82
Total		100	%	100	%

In accordance with the fair value disclosure requirements of ASC 820, the following assets were measured at fair value on a recurring basis as of December 31, 2022 and 2021. Additional information regarding ASC 820 and the fair value hierarchy can be found in Note 16.


	December 31,
	2022		2021
Asset Category
Cash and cash equivalents	$	222	$	171
Fixed income funds
Corporate bonds	795		667
Total fixed income funds	795		667
Equity funds and equities
Mutual funds	247		802
Exchange-traded funds	2,528		3,127
Total mutual funds and equities	2,775		3,929
Total	$	3,792	$	4,767

Cash equivalents: The Company uses quoted market prices to determine the fair value of these investments in interest-bearing cash accounts and they are classified as Level 1 of the fair value hierarchy. The carrying amounts approximate fair value because of the short maturity of the instruments.

Fixed income funds: Investments within the fixed income funds category consist of fixed income corporate debt. The Company uses quoted market prices to determine the fair values of these fixed income funds. These instruments consist of exchange-traded government and corporate bonds and are classified as Level 1 of the fair value hierarchy.

Equity funds and equities: The valuation of investments in registered investment companies is based on the underlying investments in securities. Securities traded on security exchanges are valued at the latest quoted sales price. Securities traded in the over-the-counter market and listed securities for which no sale was reported on that date are valued at the average of the last reported bid and ask quotations. These investments are classified as Level 1 of the fair value hierarchy.

The Company currently anticipates contributions of $400 to its U.S. defined benefit plan in 2023.

The following benefit payments are expected to be paid during the years indicated:



Year Ending December 31,
2023	$	499
2024	496
2025	490
2026	485
2027	474
Years 2028-2032	2,190

United Kingdom Defined Benefit Plan

The Company’s U.K. defined benefit plan covers certain current employees, former employees, and retirees. The plan has been frozen to new entrants since April 1, 1997 and also covers the former employees of a merged plan after January 2002. Benefits under the plan were based on years of service and eligible compensation during defined periods of service. The Company’s funding policy for the plan is to make minimum annual contributions required by applicable regulations.

The funded status of the United Kingdom defined benefit plan as of December 31, 2022 and 2021 was as follows:


	December 31,
	2022		2021
Changes in benefit obligation:
Benefit obligation at beginning of year	$	9,135	$	10,265
Interest cost	135		109
Actuarial gain	(2,221)		(825)
Benefits paid	(1,424)		(302)
Foreign currency exchange rate changes	(954)		(112)
Benefit obligation at end of year	$	4,671	$	9,135
Change to plan assets:
Fair value of assets at beginning of year	$	8,409	$	7,975
Actual (loss) gain on plan assets	(742)		522
Employer contribution	319		336
Benefits paid	(1,363)		(338)
Foreign currency exchange rate changes	(878)		(86)
Fair value of assets at end of year	5,745		8,409
Funded status at end of year	$	1,074	$	(726)
Amounts recognized in the consolidated balance sheets consist of:
Other assets (long-term liabilities)	$	1,074	$	(726)
Amounts recognized in accumulated other comprehensive loss consist of:
Net (gain) loss	$	(1,425)	$	837
Prior service cost	90		127
Total	$	(1,335)	$	964

Net periodic pension costs for the years ended December 31, 2022 and 2021 were as follows:


	Year Ended December 31,
	2022		2021
Components of net periodic benefit (gain) cost:
Interest cost	$	135	$	109
Expected return on plan assets	(264)		(254)

Amortization of prior service cost	23		26
Recognized net actuarial loss	13		165
Net periodic pension (gain) cost	$	(93)	$	46


	Year Ended December 31,
	2022		2021
Discount rate	4.8	%	1.8	%
Expected rate of return on plan assets	5.7	%	3.8	%

Amounts applicable to the Company’s pension plans with accumulated benefit obligations in excess of plan assets were as follows as of December 31, 2022 and 2021:


	December 31,
	2022		2021
Projected benefit obligation	$	4,671	$	9,135
Accumulated benefit obligation	4,671		9,135
Fair value of plan assets	5,745		8,409

The Company has estimated the long-term rate of return on plan assets based primarily on historical returns on plan assets, adjusted for changes in target portfolio allocations, and recent changes in long-term interest rates based on publicly available information.

Plan assets are invested by the trustees in accordance with a written statement of investment principles. This statement permits investment in equities, corporate bonds, United Kingdom government securities, commercial property, and cash, based on certain target allocation percentages. Asset allocation is primarily based on a strategy to provide steady growth without undue fluctuations. The target asset allocation percentages for 2022 were as follows:




Equity securities						Up to 100%
Commercial property						Not to exceed 50%
U.K. Government securities						Not to exceed 50%
Cash						Up to 100%

Plan assets held within the United Kingdom defined benefit plan consist of cash and equity securities that have been classified as Level 1 of the fair value hierarchy. All other plan assets have been classified as Level 2 of the fair value hierarchy.

The plan assets by category for the years ended December 31, 2022 and 2021 were as follows:


	December 31,
	2022		2021
Asset Category
Cash and cash equivalents	$	540	$	339
Equity securities	2,530		3,822
Bonds	2,296		3,491
Other	379		757
Total	$	5,745	$	8,409

United Kingdom regulations require trustees to adopt a prudent approach to funding required contributions to defined benefit pension plans. The Company anticipates making contributions of $337 to the United Kingdom defined benefit plan during 2023.

The following estimated future benefits payments are expected to be paid under the United Kingdom defined benefit plan:


Year Ending December 31,
2023	$	288
2024	302
2025	312
2026	318
2027	324
Years 2028-2032	1,415

Other Post-Retirement Benefit Plan

On August 1, 2022, the Company divested its Track Components business, located in St-Jean-sur-Richelieu, Quebec, Canada, which included the post retirement benefit plan, which provided retiree life insurance, health care benefits, and, for a closed group of employees, dental care. The expense related to this plan was not material for 2022 or 2021. The accrued benefit obligation was $856 as of December 31, 2021 and is recognized within “Other long-term liabilities” on the Consolidated Balance Sheets.



	December 31, 2021
Discount rate	3.1	%
Weighted average health care trend rate	4.7	%

Defined Contribution Plans

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


	Year Ended December 31,
	2022		2021
United States	$	1,650	$	1,484
Canada	131		145
United Kingdom	817		510
	$	2,598	$	2,139

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Commitments and Contingent Liabilities

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

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, 2021	$	1,042
Additions to warranty liability	211
Warranty liability utilized	(383)

Balance as of December 31, 2022	$	870

On March 13, 2019, the Company and its subsidiary, CXT Incorporated ("CXT"), entered into a Settlement Agreement (the “Settlement Agreement”) with Union Pacific Railroad Company ("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 and has been purchasing 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. During the third quarter of 2021, in connection with the Company’s divestiture of its Piling Products division, the targeted annual purchases per year have been reduced to

$6,000 for 2021 through 2024. 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 year ending December 31, 2023 and thereafter were as follows:


Year Ending December 31,
2023	$	8,000
2024	8,000




Total	$	16,000

The Company reclassified $6,600 of the previously accrued warranty reserve related to the UPRR matter into its aggregate accrued settlement liability of $50,000 as of December 31, 2018. Therefore, the Company recognized $43,400 in expense for the year ended December 31, 2018 for the remaining amount per the Settlement Agreement, which was recorded in “Concrete Tie Settlement expense” within its Consolidated Statements of Operations. As of December 31, 2022 and 2021, $8,000 and $8,000 was recorded within “Current portion of accrued settlement,” respectively, and $8,000 and $16,000 was recorded within “Long-term portion of accrued settlement,” respectively, within the Consolidated Balance Sheets.

Other Legal Matters

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 December 31, 2022.

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 December 31, 2022, no such disclosures were considered necessary.

Environmental Matters

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. These costs may increase given that the remedy will not be initiated or completed for several years. 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 and involves a process that will ultimately conclude a proposed allocation of liability for cleanup of the site and various sub-areas. The Company does not have any individual risk sharing agreements in place with respect to the site, and was only associated with the site from 1976 to when it purchased the stock of a company whose assets it sold in 1982 and which was dissolved in 1994. 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. The Company cannot predict the ultimate impact of these proceedings because of the large number of PRPs involved throughout the harbor site, the size and extent of the 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, potential comparative liability between the allocation parties and regarding non-participants, 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 more information develops and the allocation process is completed, and given the resolution factors like those described above, an unfavorable resolution could have a material adverse effect.

As of December 31, 2022 and December 31, 2021, the Company maintained environmental reserves approximating $2,472 and $2,519, respectively. The following table sets forth the Company’s undiscounted environmental obligation:


	Environmental Liability
Balance as of December 31, 2021	$	2,519
Additions to environmental obligations	40
Environmental obligations utilized	(87)
Balance as of December 31, 2022	$	2,472

Other Income

12 Months Ended

Dec. 31, 2022

Other Income and Expenses [Abstract]

Other Income

The following table summarizes the Company’s other income for the years ended December 31, 2022 and 2021.


	2022		2021
Gain on Piling Products division asset sale (a)	$	(489)	$	(2,741)
Insurance proceeds (b)	(790)		—
Loss on the sale of Track Components (c)	467		—
Costs recovered from environmental cleanup activities (d)	(325)		—


Foreign currency losses	434		452
Other	(847)		(786)
Other income - net	$	(1,550)	$	(3,075)

a.On September 27, 2021, the Company announced it completed the sale of its Piling Products division to J.D. Fields & Company, Inc., resulting in a pre-tax gain of $489 and $2,741 in 2022 and 2021, respectively.

b.In 2022, the Company received $790 in insurance proceeds.

c.On August 1, 2022, the Company divested the assets of its rail spikes and anchors track components business located in St-Jean-sur-Richelieu, Quebec, Canada, resulting in a pre-tax loss of $467 in 2022.

d.In 2022, the Company received $325 to recover costs associated with environmental cleanup activities in a formerly leased property in Magnolia, TX.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsDuring the first quarter of 2023, the Company’s Board of Directors authorized the repurchase of up to $15,000 of the Company’s common stock in open market transactions through February 2026. Repurchases are limited to up to $5,000 in any trailing 12-month period, with unused amounts carrying forward to future periods through the end of the authorization. Any repurchases will be subject to the Company’s liquidity, including availability of borrowings and covenant compliance under its revolving credit facility, and other capital needs of the business.

Schedule II Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II Valuation and Qualifying Accounts

L.B. FOSTER COMPANY AND SUBSIDIARIES

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021


	Balance at Beginning of Year		Additions Charged to Costs and Expenses		Other adjustments (1)		Balance at End of Year
Allowance for credit losses
For the year ended December 31,
2022	$	547	$	382	$	116	$	813
2021	$	944	$	(87)	$	310	$	547

1.Notes and accounts receivable written off as uncollectible or allowance reversed.


	Balance at Beginning of Year		Additions Charged to Costs and Expenses		Other adjustments (1)		Balance at End of Year
Valuation allowance for deferred tax assets
For the year ended December 31,
2022	$	3,290	$	37,895	$	584	$	40,601
2021	$	1,483	$	1,807	$	—	$	3,290

1.Consists primarily of adjustments related to unrealized income on interest rate swap contracts.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2022
Accounting Policies [Abstract]
Organization, operations, and basis of consolidation	Organization, operations, and basis of consolidation The consolidated financial statements include the accounts of L.B. Foster Company and its wholly-owned subsidiaries, joint ventures, and partnerships in which a controlling interest is held. Inter-company transactions and accounts have been eliminated. The Company utilizes the equity method of accounting for companies where its ownership is less than or equal to 50% and significant influence exists. L.B. Foster Company (together with its subsidiaries, the “Company”) is a global technology solutions provider of engineered, manufactured products and services that builds and supports infrastructure. The Company’s innovative engineering and product development solutions address the safety, reliability, and performance needs of its customers’ most challenging requirements. The Company maintains locations in North America, South America, Europe, and Asia. The Company is organized and operates in three reporting segments: Rail, Technologies, and Services (“Rail”), Precast Concrete Products (“Precast”), and Steel Products and Measurement. The Rail segment is comprised of several manufacturing and distribution businesses that provide a variety of products and services for freight and passenger railroads and industrial companies throughout the world. The Precast segment is composed of five precast concrete manufacturing facilities across the United States (“U.S.”) providing engineered precast concrete solutions. The Steel Products and Measurement segment is composed of fabricated bridge, protective coating, threading, and precision measurement offerings across North America.
Use of estimates	Use of estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates, judgements, and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates and changes in these estimates are recorded when known.
Cash and cash equivalents	Cash and cash equivalents The Company considers cash and other instruments with maturities of three months or less when purchased to be cash and cash equivalents. The Company invests available funds in a manner to preserve investment principal and maintain liquidity, while seeking the highest yield available. Cash and cash equivalents held in non-domestic accounts were $2,012 and $6,168 as of December 31, 2022 and 2021, respectively. Accounts Receivable Trade receivables are carried at their estimated collectible amounts. Trade credit is generally extended on a short-term basis; thus trade receivables do not bear interest. Credit is extended based upon an evaluation of the customer’s financial condition and, while collateral is not required, the Company periodically receives surety bonds that guarantee payment. Credit terms are consistent with industry standards and practices.
Inventory	Inventory Inventory is valued at the lower of average cost or net realizable value. Slow-moving inventory is reviewed and adjusted regularly, based upon product knowledge, physical inventory observation, inventory turnover, and the age of the inventory. Inventory contains product costs, including materials, inbound freight, direct labor, overhead costs relating to the manufacturing and distribution of products, and absorption costs representing the excess manufacturing or production costs over the amounts charged to the cost of sales or services.
Property, plant and equipment	Property, plant, and equipment Depreciation and amortization are provided on a straight-line basis over the estimated useful lives of 8 to 40 years for buildings and 2 to 50 years for machinery and equipment. Leasehold improvements are amortized over 7 to 19 years, which represent the lives of the respective leases or the lives of the improvements, whichever is shorter. Depreciation expense is recorded within “Cost of goods sold,” “Cost of services sold,” and “Selling and administrative expenses” on the Consolidated Statements of Operations based upon the particular asset’s use. The Company reviews a long-lived asset for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. The Company recognizes an impairment loss if the carrying amount of a long-lived asset is not recoverable and exceeds its fair value. There were no material property, plant, and equipment impairments recorded for the years ended December 31, 2022 and 2021. Maintenance, repairs, and minor renewals are charged to operations as incurred. Major renewals and betterments that substantially extend the useful life of the property are capitalized at cost. Upon the sale or other disposition of assets, the costs and related accumulated depreciation and amortization are removed from the accounts and the resulting gain or loss, if any, is reflected in “Other income - net” in the Consolidated Statements of Operations.
Allowance for credit losses	Allowance for credit losses 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, bad debt expense experience, current and expected market conditions, and any other relevant subjective adjustments as needed. Trade receivables are pooled within the calculation based on a range of ages, grouping receivables of similar credit risk together. Reserve thresholds to calculate the allowance for credit loss are based on historic collection patterns, bad debt expense incurred, and expected future trends of collections. Management maintains high-quality credit review practices and positive customer relationships that mitigate credit risks. The Company’s reserves are regularly reviewed and revised as necessary. Reserves for uncollectible accounts are recorded as part of “Selling and administrative expenses” in the Consolidated Statements of Operations. The Company has also established policies regarding allowance for credit losses associated with contract assets, which includes standalone reserve assessments for its long term, complex contracts as needed as well as detailed regular review and updates to contract margins, progress, and value. A standard reserve threshold is applied contract assets related to short term, less complex contracts. Management also regularly reviews collection patterns and future expected collections and makes necessary revisions to allowance for credit losses related to contract assets.
Goodwill and other intangible assets	Goodwill and other intangible assets Goodwill is the cost of an acquisition less the fair value of the identifiable net assets of the acquired business. Goodwill is tested annually for impairment or more often if there are indicators of impairment within a reporting unit. A reporting unit is an operating segment or a component of an operating segment for which discrete financial information is available and reviewed by management on a regular basis. There was no change to the reporting units as a result of the 2021 change in reporting segments. The goodwill impairment test involves comparing the fair value of a reporting unit to its carrying value, including goodwill. If the carrying amount of the reporting unit exceeds its fair value, an impairment loss equal to the excess amount up to the goodwill balance is recorded as a component of operations. The Company performs its annual impairment tests in the fourth quarter. The Company’s fourth quarter 2022 annual test included the assessment of a quantitative analysis to determine whether it was more likely than not that the fair value of each reporting unit is less than its carrying value. The quantitative assessment considers fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company’s quantitative analysis considered and evaluated each of the three traditional approaches to value: the income approach, the market approach, and the asset approach. The Company primarily relied on the discounted cash flow method within the income approach to value the reporting units. Any impairment charges are based on both historic and future expected business results that no longer support the carrying value of the reporting unit. The Company also monitors the recoverability of the long-lived assets associated with certain reporting units of the Company and the long-term financial projections of the businesses to assess for asset impairment. The Company has no indefinite-lived intangible assets. The Company reviews a long-lived intangible asset for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. All intangible assets are amortized over their estimated useful lives.
Environmental remediation and compliance	Environmental remediation and compliance Environmental remediation costs are accrued when a liability is probable and costs are estimable. Environmental compliance costs, which principally include the disposal of waste generated by routine operations, are expensed as incurred. Capitalized environmental costs, when appropriate, are depreciated over their useful life. Reserves are not reduced by potential claims for recovery and are not discounted. Claims for recovery are recognized as agreements are reached with third parties or as amounts are received. Reserves are periodically reviewed throughout the year and adjusted to reflect current remediation progress, prospective estimates of required activity, and other factors that may be relevant, including changes in technology or regulations.
Revenue recognition	Revenue recognition The Company’s revenues are comprised of product and service sales, including products and services provided under long-term agreements with its customers. All revenue is recognized when the Company satisfies its performance obligations under the respective contract, either implicit or explicit, by transferring the promised product or rendering a service to its customer either when or as its customer obtains control of the product or the service is rendered. Deferred revenue consists of customer billings or payments received for which the revenue recognition criteria have not yet been met as well as contract liabilities (billings in excess of costs) on over time contracts. Advance payments from customers typically relate to contracts for which the Company has significantly fulfilled its obligations, but due to the Company’s continuing involvement with the project, revenue is precluded from being recognized until the performance obligation is met for the customer.
Product warranty	Product warrantyThe Company maintains a current warranty liability for the repair or replacement of defective products. For certain manufactured products, an accrual is made on a monthly basis as a percentage of cost of sales based upon historical experience. For long-lived construction products, a warranty is established when the claim is known and quantifiable. The product warranty accrual is periodically adjusted based on the identification or resolution of known individual product warranty claims or due to changes in the Company’s historical warranty experience.
Income taxes	Income taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases. Deferred taxes are measured using enacted tax laws and rates expected to be in effect when such differences are recovered or settled. The effect of a change in tax rates on deferred taxes is recognized in income in the period that includes the enactment date of the change. The Company has also elected to record income taxes associated with global intangible low-taxed income (“GILTI”) as period costs if and when incurred. The Company makes judgments regarding the recognition of deferred tax assets and the future realization of these assets. As prescribed by the FASB’s ASC 740, “Income Taxes” and applicable guidance, valuation allowances must be provided for those deferred tax assets for which it is more likely than not (a likelihood of more than 50%) that some portion or all of the deferred tax assets will not be realized. The guidance requires the Company to evaluate positive and negative evidence regarding the recoverability of deferred tax assets. The determination of whether the positive evidence outweighs the negative evidence and quantification of the valuation allowance requires the Company to make estimates and judgments of future financial results. The Company has concluded that for purposes of quantifying valuation allowances, it would be appropriate to consider the reversal of taxable temporary differences related to indefinite-lived intangible assets when assessing the realizability of deferred tax assets that upon reversal, would give rise to operating losses that do not expire. The Company evaluates all tax positions taken on its federal, state, and foreign tax filings to determine if the position is more likely than not to be sustained upon examination. For positions that meet the more likely than not to be sustained criteria, the largest amount of benefit to be realized upon ultimate settlement is determined on a cumulative probability basis. A previously recognized tax position is derecognized when it is subsequently determined that a tax position no longer meets the more likely than not threshold to be sustained. The evaluation of the sustainability of a tax position and the expected tax benefit is based on judgment, historical experience, and various other assumptions. Actual results could differ from those estimates upon subsequent resolution of identified matters. The Company accrues interest and penalties related to unrecognized tax benefits in its provision for income taxes.
Foreign currency translation	Foreign currency translationThe assets and liabilities of the Company’s foreign subsidiaries are measured using the local currency as the functional currency and are translated into U.S. dollars at exchange rates as of the balance sheet date. Income statement amounts are translated at the weighted-average rates of exchange during the year. The translation adjustment is accumulated as a separate component of “Accumulated other comprehensive loss” within the Consolidated Balance Sheets.
Research and development	Research and developmentThe Company expenses research and development costs as costs are incurred.
Recently issued accounting guidance	Recently issued accounting guidance In March 2020, the FASB issued Accounting Standards Update 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. The Company did not identify any material impact from the provision of ASU 2020-04 on its financial condition, results of operations, and cash flows.

Business Segments (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

The operating results and assets of the Company’s reportable segments were as follows as of and for the year ended December 31, 2022:


	2022
	Net Sales		Segment Operating Profit (Loss)		Segment Assets		Depreciation/Amortization		Expenditures for Long-Lived Assets
Rail, Technologies, and Services	$	300,592	$	11,454	$	172,111	$	5,620	$	1,218
Precast Concrete Products	104,212		1,692		108,598		3,162		2,833
Steel Products and Measurement	92,693		(10,824)		54,516		4,502		267
Total	$	497,497	$	2,322	$	335,225	$	13,284	$	4,318

The operating results and assets of the Company’s reportable segments were as follows as of and for the year ended December 31, 2021:


	2021
	Net Sales		Segment Operating Profit (Loss)		Segment Assets		Depreciation/Amortization		Expenditures for Long-Lived Assets
Rail, Technologies, and Services	$	299,749	$	14,165	$	171,608	$	6,089	$	1,081
Precast Concrete Products	70,990		1,545		48,740		1,716		2,441
Steel Products and Measurement	142,881		(2,402)		58,377		4,738		78
Total	$	513,620	$	13,308	$	278,725	$	12,543	$	3,600

Reconciliation of Operating Profit (Loss) from Segments to Consolidated


	2022		2021
Income from operations:
Total segment operating profit	$	2,322	$	13,308
Interest expense - net	(3,340)		(2,956)
Other income - net	1,550		3,075

Corporate expense and other unallocated charges	(9,528)		(8,837)
(Loss) income from continuing operations before income taxes	$	(8,996)	$	4,590
Assets:
Total segment assets	$	335,225	$	278,725
Unallocated corporate assets	30,085		63,870

Assets	$	365,310	$	342,595
Depreciation/Amortization:
Total segment depreciation/amortization	$	13,284	$	12,543
Corporate depreciation/amortization	1,495		1,344
Depreciation/amortization	$	14,779	$	13,887
Expenditures for Long-Lived Assets:
Total segment expenditures for long-lived assets	$	4,318	$	3,600

Corporate expenditures for long-lived assets	3,315		1,020
Expenditures for long-lived assets	$	7,633	$	4,620

Revenue from Customer by Major Geographical Region

The following table summarizes the Company’s sales by major geographic region in which the Company had operations for the years ended December 31:


	2022		2021
United States	$	378,339	$	391,218
Canada	38,489		36,477
United Kingdom	46,590		57,600
Other	34,079		28,325
Total net sales	$	497,497	$	513,620

Reconciliation of Assets from Segment to Consolidated

The following table summarizes the Company’s long-lived assets by geographic region as of December 31:


	2022		2021
United States	$	82,846	$	53,527
Canada	110		2,597
United Kingdom	1,533		1,668
Other	855		430
Total property, plant, and equipment - net	$	85,344	$	58,222

Schedule of Revenues by Major Product Line

The following table summarizes the Company’s sales by major product and service line for the years ended December 31:


	December 31,
		2022		2021
Rail Products and Global Friction Management		$	255,713	$	248,237
Technology Services and Solutions		44,879		51,512
Rail, Technologies, and Services		300,592		299,749
Precast Concrete Buildings		61,143		55,993
Other Precast Concrete Products		43,069		14,997
Precast Concrete Products		104,212		70,990
Coatings and Measurement		38,329		27,833
Fabricated Steel Products		54,364		115,048
Steel Products and Measurement		92,693		142,881
Total net sales		$	497,497	$	513,620

Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisition, Pro Forma Information


	Year Ended December 31,
		2022		2021

		Unaudited
Net sales		$	522,997	$	540,359
Net (loss) income attributable to L.B. Foster Company		(44,564)		2,223
Diluted (loss) earnings per share
As reported		$	(4.25)	$	0.33
Pro forma		$	(4.16)	$	0.21

Schedule of Business Acquisitions, by Acquisition

The following table summarizes estimated fair values of the assets acquired and liabilities assumed at the date of the VanHooseCo and Skratch acquisitions:


Allocation of purchase price	VanHooseCo		Skratch
Current assets, net of cash acquired on the acquisition date	$	11,138	$	1,129
Property, plant, and equipment	30,410		174
Goodwill	8,221		5,549
Other intangibles	5,442		1,750
Liabilities assumed	(3,065)		(1,200)
Total	$	52,146	$	7,402

The following table summarizes estimates of the fair values of the VanHooseCo and Skratch identifiable intangible assets acquired:


	VanHooseCo			Skratch
Identifiable intangible assets	Weighted Average Amortization Period In Years	Net Carrying Amount		Weighted Average Amortization Period In Years	Net Carrying Amount
Non-compete agreements	0	$	—	1	$	27
Customer relationships	5	3,578		3	1,349
Trademarks and trade names	10	1,537		10	374
Favorable lease	6	327		0	—
Total		$	5,442		$	1,750

Revenue (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

For the years ended December 31, 2022 and 2021, revenue recognized over time was as follows:


	Year Ended December 31,				Percentage of Total Net Sales Year Ended December 31,
	2022		2021		2022		2021
Over time input method	$	67,116	$	100,787	13.5	%	19.6	%
Over time output method	68,794		52,844		13.8		10.3
Total over time sales	$	135,910	$	153,631	27.3	%	29.9	%

For the years ended December 31, 2022 and 2021, net sales by the timing of the transfer of goods and services were as follows:


Year Ended December 31, 2022	Rail, Technologies, and Services		Precast Concrete Products		Steel Products and Measurement		Total
Point in time	$	241,759	$	43,069	$	76,759	$	361,587
Over time	58,833		61,143		15,934		135,910
Total net sales	$	300,592	$	104,212	$	92,693	$	497,497

Year Ended December 31, 2021	Rail, Technologies, and Services		Precast Concrete Products		Steel Products and Measurement		Total
Point in time	$	232,880	$	21,351	$	105,758	$	359,989
Over time	66,869		49,639		37,123		153,631
Total net sales	$	299,749	$	70,990	$	142,881	$	513,620

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

As of December 31, 2022 and 2021, the following table represents the goodwill balance by reportable segment:


	Rail, Technologies, and Services		Precast Concrete Products		Steel Products and Measurement		Total
Balance as of December 31, 2020:	$	14,743	$	2,586	$	3,011	$	20,340
Acquisitions	—		(22)		—		(22)
Foreign currency translation impact	(166)		—		—		(166)


Balance as of December 31, 2021:	14,577		2,564		3,011		20,152
Acquisitions	5,549		8,221		—		13,770
Foreign currency translation impact	(178)		—		—		(178)

Impairment charges	—		—		(3,011)		(3,011)
Balance as of December 31, 2022:	$	19,948	$	10,785	$	—	$	30,733

Schedule of Intangible Assets

As of December 31, 2022 and 2021, the components of the Company’s intangible assets were as follows:


	December 31, 2022
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	1	$	27	$	(16)	$	11
Patents	10	330		(187)		143
Customer relationships	16	27,184		(14,129)		13,055
Trademarks and trade names	16	7,933		(3,989)		3,944
Technology	14	32,201		(25,827)		6,374
Favorable lease	6	327		(23)		304
		$	68,002	$	(44,171)	$	23,831

	December 31, 2021
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount

Patents	10	$	385	$	(218)	$	167
Customer relationships	18	36,163		(18,222)		17,941
Trademarks and trade names	16	7,801		(4,702)		3,099
Technology	13	35,772		(25,956)		9,816
		$	80,121	$	(49,098)	$	31,023

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated annual amortization expense for the years ending December 31, 2023 and thereafter is as follows:


Year Ending December 31,
2023	$	5,268
2024	4,273
2025	2,878
2026	2,268
2027	1,953
2028 and thereafter	7,191
	$	23,831

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Accounts Receivable Detail

Accounts receivable as of December 31, 2022 and 2021 are summarized as follows:


	December 31,
	2022		2021
Accounts receivable	$	83,268	$	56,458
Allowance for credit losses	(813)		(547)
Accounts receivable - net	$	82,455	$	55,911

Accounts Receivable, Allowance for Credit Loss

The following table sets forth the Company’s allowance for credit losses:


	Allowance for Credit Losses
December 31, 2021	$	547
Current period provision	382
Write-off against allowance	(116)

December 31, 2022	$	813

Inventory (Tables)

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Schedule of Inventory

The Company’s components of inventory as of December 31, 2022 and 2021 are summarized in the following table:


	December 31,
	2022		2021
Finished goods	$	41,431	$	23,822

Work-in-process	9,693		10,738
Raw materials	24,597		28,311
Inventories - net	$	75,721	$	62,871

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant, and equipment as of December 31, 2022 and 2021 consisted of the following:


	December 31,
	2022		2021
Land	$	5,284	$	6,224
Improvements to land and leaseholds	19,956		15,416
Buildings	34,814		27,206
Machinery and equipment, including equipment under finance leases	123,806		112,021
Construction in progress	5,552		1,194
Gross property, plant, and equipment	189,412		162,061
Less: accumulated depreciation and amortization, including accumulated amortization of finance leases	(104,068)		(103,839)
Property, plant, and equipment - net	$	85,344	$	58,222

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Balance Sheet Location

The balance sheet components of the leases were as follows as of December 31, 2022 and 2021:


	December 31, 2022		December 31, 2021
Operating leases
Operating lease right-of-use assets	$	17,291	$	15,131
Other current liabilities	$	3,128	$	2,852
Long-term operating lease liabilities	14,163		12,279
Total operating lease liabilities	$	17,291	$	15,131
Finance leases
Property, plant, and equipment	$	1,442	$	1,162
Accumulated amortization	(1,130)		(1,011)
Property, plant, and equipment - net	$	312	$	151
Current maturities of long-term debt	$	127	$	98
Long-term debt	185		53
Total finance lease liabilities	$	312	$	151

Components of Lease Cost

The components of lease expense within the Consolidated Statements of Operations were as follows for the years ended December 31, 2022 and 2021:


	Year Ended December 31,
	2022		2021
Finance lease cost:
Amortization of finance leases	$	177	$	203
Interest on lease liabilities	34		82
Operating lease cost	2,891		2,784
Sublease income	(200)		(200)
Total lease cost	$	2,902	$	2,869

The cash flow components of the leases were as follows for the years ended December 31, 2022 and 2021:


	Year Ended December 31,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(3,440)	$	(3,342)

Financing cash flows from finance leases	(164)		(221)
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$	5,257	$	1,847

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


	December 31,
	2022		2021
Operating lease weighted-average remaining lease term	7		6
Operating lease weighted-average discount rate	5.2	%	5.2	%
Finance lease weighted-average remaining lease term	2		1
Finance lease weighted-average discount rate	3.7	%	4.1	%

Lessee, Operating Lease, Liability, Maturity

As of December 31, 2022, estimated annual maturities of lease liabilities for the year ending December 31, 2023 and thereafter were as follows:


Year Ending December 31,	Operating Leases		Finance Leases
2023	$	4,002	$	160
2024	3,620		112
2025	3,043		76
2026	2,811		6
2027	2,007		—
2028 and thereafter	4,988		—
	20,471		354
Interest	(3,180)		(42)
Total	$	17,291	$	312

Finance Lease, Liability, Maturity

As of December 31, 2022, estimated annual maturities of lease liabilities for the year ending December 31, 2023 and thereafter were as follows:


Year Ending December 31,	Operating Leases		Finance Leases
2023	$	4,002	$	160
2024	3,620		112
2025	3,043		76
2026	2,811		6
2027	2,007		—
2028 and thereafter	4,988		—
	20,471		354
Interest	(3,180)		(42)
Total	$	17,291	$	312

Long-Term Debt and Related Matters (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt as of December 31, 2022 and 2021 consisted of the following:


	December 31,
	2022		2021
Revolving credit facility with an interest rate of 6.93% as of December 31, 2022 and 1.61% as of December 31, 2021	$	91,567	$	31,100


Lease obligations payable in installments through 2024 with a weighted average interest rate of 4.80% as of December 31, 2022 and 4.14% as of December 31, 2021	312		151
Total debt	91,879		31,251
Less: current maturities	(127)		(98)
Long-term portion	$	91,752	$	31,153

Schedule of Maturities of Long-term Debt

The expected maturities of long-term debt for December 31, 2023 and thereafter are as follows:


Year Ending December 31,
2023	$	127
2024	101
2025	75
2026	91,576
2027	—
2028 and thereafter	—
Total	$	91,879

- 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 https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21475-112644

+ Details

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Schedule of Common Stock Outstanding Roll Forward


	Common Stock
	Treasury	Outstanding

	(Number of Shares)



Balance at end of 2020	552,489	10,563,290
Issued for stock-based compensation plans	(107,053)	107,053

Balance at end of 2021	445,436	10,670,343
Issued for stock-based compensation plans	(106,484)	106,484

Balance at end of 2022	338,952	10,776,827

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss, net of tax, for the years ended December 31, 2022 and 2021, were as follows:


	December 31,
	2022		2021
Pension and post-retirement benefit plan adjustments	$	(1,112)	$	(2,517)
Unrealized income on interest rate swap contracts	1,982		68
Foreign currency translation adjustments	(22,035)		(16,396)
Accumulated other comprehensive loss	$	(21,165)	$	(18,845)

Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of basic and diluted (loss) earnings per common share for the years ended December 31, 2022 and 2021:


	Year Ended December 31,
	2022		2021
Numerator for basic and diluted (loss) earnings per common share:
Net (loss) income from continuing operations attributable to L.B. Foster Company	$	(45,564)	$	3,554
Income from discontinued operations	—		72
Net (loss) income attributable to L.B. Foster Company	$	(45,564)	$	3,626
Denominator:
Weighted average shares outstanding	10,720		10,623
Denominator for basic earnings per common share	10,720		10,623
Effect of dilutive securities:
Stock compensation plans	—		129
Dilutive potential common shares	—		129
Denominator for diluted earnings per common share - adjusted weighted average shares outstanding and assumed conversions	10,720		10,752
Basic (loss) earnings from continuing operations per common share	$	(4.25)	$	0.33
Basic earnings from discontinued operations per common share	—		0.01
Basic (loss) earnings per common share	$	(4.25)	$	0.34
Diluted (loss) earnings from continuing operations per common share	$	(4.25)	$	0.33
Diluted earnings from discontinued operations per common share	—		0.01
Diluted (loss) earnings per common share	$	(4.25)	$	0.34

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Components of Income before Income Tax

ncome from continuing operations before income taxes, as shown in the accompanying Consolidated Statements of Operations, includes the following components for the years ended December 31, 2022 and 2021:


	Year Ended December 31,
	2022		2021
Domestic	$	(5,074)	$	2,772
Foreign	(3,922)		1,818
(Loss) income from continuing operations, before income taxes	$	(8,996)	$	4,590

Significant Components of Income Tax

Significant components of the provision for income taxes for the years ended December 31, 2022 and 2021 were as follows:


	Year Ended December 31,
	2022		2021
Current:
Federal	$	—	$	—
State	127		(237)
Foreign	769		1,217
Total current	896		980
Deferred:
Federal	28,287		(675)
State	9,001		1,450
Foreign	(1,503)		(636)
Total deferred	35,785		139
Total income tax expense	$	36,681	$	1,119

Reconciliation of Statutory Income to Income Tax Expense

The reconciliation of income tax computed at statutory rates to income tax expense for the years ended December 31, 2022 and 2021 is as follows:


	Year Ended December 31,
	2022				2021
	Amount		Percent		Amount		Percent
Statutory rate	$	(1,889)	21.0	%	$	964	21.0	%
Foreign tax rate differential	(306)		3.4		20		0.4
State income taxes, net of federal benefit	327		(3.6)		132		2.9

Non-deductible expenses	200		(2.2)		153		3.3
Tax benefits related to disposition of the Test and Inspection Services business	—		—		(2,130)		(46.4)


Income tax credits	(261)		2.9		(227)		(4.9)
Change in income tax rates	176		(2.0)		379		8.3
Tax on unremitted foreign earnings	439		(4.9)		(68)		(1.5)
Change in valuation allowance	37,895		(421.2)		1,807		39.4
Other	100		(1.1)		89		1.9
Total income tax expense / Effective rate	$	36,681	(407.7)	%	$	1,119	24.4	%

Significant Components of Deferred Tax Asset and Liability

Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2022 and 2021 were as follows:


	December 31,
	2022		2021
Deferred tax assets:
Goodwill and other intangibles	$	8,099	$	7,047
Accrued settlement	3,915		6,000
Deferred compensation	2,396		2,165
Contingent liabilities	613		644
Net operating loss / tax credit carryforwards	30,812		28,932
Pension and post-retirement liability	297		1,218
Inventories	1,790		500
Warranty reserve	202		248
Accounts receivable	181		129
Interest deduction carryforward	775		161
Capitalized research expenditures	1,292		—
Other	644		767
Total deferred tax assets	51,016		47,811
Less: valuation allowance	(40,601)		(3,290)
Net deferred tax assets	10,415		44,521
Deferred tax liabilities:
Goodwill and other intangibles	(2,803)		(3,814)
Depreciation	(9,434)		(6,919)
Unrealized income on interest rate swap contracts	(472)		—
Unremitted earnings of foreign subsidiaries	(625)		(220)
Other	(166)		(79)
Total deferred tax liabilities	(13,500)		(11,032)
Net deferred tax (liabilities) assets	$	(3,085)	$	33,489

Reconciliation of Unrealized tax Benefits

The following table provides a reconciliation of unrecognized tax benefits as of December 31, 2022 and 2021:


	December 31,
	2022		2021
Unrecognized tax benefits at beginning of period:	$	365	$	409

Decreases based on tax positions for prior periods	(11)		(44)

Balance at end of period	$	354	$	365

Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Schedule of Nonvested Share Activity

The following table summarizes the restricted stock award, deferred stock units, and performance unit award activity for the years ended December 31, 2022 and 2021:


	Restricted Stock	Deferred Stock Units	Performance Stock Units	Weighted Average Aggregate Grant Date Fair Value





Outstanding as of January 1, 2021	171,934	66,136	150,022	$	18.05
Granted	111,337	8,814	147,367	16.83
Vested	(144,400)	—	(7,940)	14.11
Adjustment for incentive awards	—	—	(125,767)	17.75
Canceled and forfeited	(3,167)	—	(47,111)	16.46
Outstanding as of December 31, 2021	135,704	74,950	116,571	19.75
Granted	125,582	5,730	110,600	14.88
Vested	(86,613)	(34,412)	(13,095)	17.98
Adjustment for incentive awards	—	—	(105,598)	16.67
Canceled and forfeited	(500)	—	—	18.57
Outstanding as of December 31, 2022	174,173	46,268	108,478	$	17.77

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

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


	Fair Value Measurements as of December 31, 2022								Fair Value Measurements as of December 31, 2021
	December 31, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Term deposits	$	17	$	17	$	—	$	—	$	18	$	18	$	—	$	—
Interest rate swaps	1,930		—		1,930		—		175		—		175		—
Total assets	$	1,947	$	17	$	1,930	$	—	$	193	$	18	$	175	$	—
Interest rate swaps	$	—	$	—	$	—	$	—	$	159	$	—	$	159	$	—
Total liabilities	$	—	$	—	$	—	$	—	$	159	$	—	$	159	$	—

Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2022

Pension Plan

Defined Benefit Plan Disclosure

Schedule of Net Benefit Costs

Net periodic pension costs for the years ended December 31, 2022 and 2021 were as follows:


	Year Ended December 31,
	2022		2021
Components of net periodic benefit cost:

Interest cost	$	194	$	172
Expected return on plan assets	(264)		(247)

Recognized net actuarial loss	71		99
Net periodic pension cost	$	1	$	24

Schedule of Costs of Retirement Plans


	Year Ended December 31,
	2022		2021
United States	$	1,650	$	1,484
Canada	131		145
United Kingdom	817		510
	$	2,598	$	2,139

Pension Plan | United States

Defined Benefit Plan Disclosure

Schedule of Changes in Accumulated Postemployment Benefit Obligations

The following tables present a reconciliation of the changes in the benefit obligation, the fair market value of the assets, and the funded status of the plan, as of December 31, 2022 and 2021:


	December 31,
	2022		2021
Changes in benefit obligation:
Benefit obligation at beginning of year	$	7,875	$	8,448

Interest cost	194		172
Actuarial gain	(1,544)		(319)
Benefits paid	(424)		(426)

Benefit obligation at end of year	$	6,101	$	7,875
Change to plan assets:
Fair value of assets at beginning of year	$	4,767	$	4,459
Actual (loss) gain on plan assets	(1,007)		434
Employer contribution	456		300
Benefits paid	(424)		(426)

Fair value of assets at end of year	3,792		4,767
Funded status at end of year	$	(2,309)	$	(3,108)
Amounts recognized in the consolidated balance sheets consist of:
Other long-term liabilities	$	(2,309)	$	(3,108)
Amounts recognized in accumulated other comprehensive loss consist of:
Net loss	$	1,737	$	2,082

Schedule of Changes in Fair Value of Plan Assets

The following tables present a reconciliation of the changes in the benefit obligation, the fair market value of the assets, and the funded status of the plan, as of December 31, 2022 and 2021:


	December 31,
	2022		2021
Changes in benefit obligation:
Benefit obligation at beginning of year	$	7,875	$	8,448

Interest cost	194		172
Actuarial gain	(1,544)		(319)
Benefits paid	(424)		(426)

Benefit obligation at end of year	$	6,101	$	7,875
Change to plan assets:
Fair value of assets at beginning of year	$	4,767	$	4,459
Actual (loss) gain on plan assets	(1,007)		434
Employer contribution	456		300
Benefits paid	(424)		(426)

Fair value of assets at end of year	3,792		4,767
Funded status at end of year	$	(2,309)	$	(3,108)
Amounts recognized in the consolidated balance sheets consist of:
Other long-term liabilities	$	(2,309)	$	(3,108)
Amounts recognized in accumulated other comprehensive loss consist of:
Net loss	$	1,737	$	2,082

Schedule of Weighted Average Assumptions Used


	Year Ended December 31,
	2022		2021
Discount rate	2.6	%	2.1	%
Expected rate of return on plan assets	5.6	%	5.2	%

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

Amounts applicable to the Company’s pension plan with accumulated benefit obligations in excess of plan assets were as follows as of December 31, 2022 and 2021:


	December 31,
	2022		2021
Projected benefit obligation	$	6,101	$	7,875
Accumulated benefit obligation	6,101		7,875
Fair value of plan assets	3,792		4,767

Schedule of Investment Allocation and Target Allocation

The investment target ranges and actual allocation of pension plan assets by major category as of December 31, 2022 and 2021 were as follows:


		December 31,
	Target	2022		2021
Asset Category
Cash and cash equivalents	0 - 20%	6	%	4	%
Total fixed income funds	25 - 50%	7		14
Total mutual funds and equities	35 - 70%	87		82
Total		100	%	100	%


	December 31,
	2022		2021
Asset Category
Cash and cash equivalents	$	222	$	171
Fixed income funds
Corporate bonds	795		667
Total fixed income funds	795		667
Equity funds and equities
Mutual funds	247		802
Exchange-traded funds	2,528		3,127
Total mutual funds and equities	2,775		3,929
Total	$	3,792	$	4,767

Schedule of Expected Benefit Payments

The following benefit payments are expected to be paid during the years indicated:



Year Ending December 31,
2023	$	499
2024	496
2025	490
2026	485
2027	474
Years 2028-2032	2,190

Pension Plan | United Kingdom

Defined Benefit Plan Disclosure

Schedule of Changes in Accumulated Postemployment Benefit Obligations

The funded status of the United Kingdom defined benefit plan as of December 31, 2022 and 2021 was as follows:


	December 31,
	2022		2021
Changes in benefit obligation:
Benefit obligation at beginning of year	$	9,135	$	10,265
Interest cost	135		109
Actuarial gain	(2,221)		(825)
Benefits paid	(1,424)		(302)
Foreign currency exchange rate changes	(954)		(112)
Benefit obligation at end of year	$	4,671	$	9,135
Change to plan assets:
Fair value of assets at beginning of year	$	8,409	$	7,975
Actual (loss) gain on plan assets	(742)		522
Employer contribution	319		336
Benefits paid	(1,363)		(338)
Foreign currency exchange rate changes	(878)		(86)
Fair value of assets at end of year	5,745		8,409
Funded status at end of year	$	1,074	$	(726)
Amounts recognized in the consolidated balance sheets consist of:
Other assets (long-term liabilities)	$	1,074	$	(726)
Amounts recognized in accumulated other comprehensive loss consist of:
Net (gain) loss	$	(1,425)	$	837
Prior service cost	90		127
Total	$	(1,335)	$	964

Schedule of Net Benefit Costs

Net periodic pension costs for the years ended December 31, 2022 and 2021 were as follows:


	Year Ended December 31,
	2022		2021
Components of net periodic benefit (gain) cost:
Interest cost	$	135	$	109
Expected return on plan assets	(264)		(254)

Amortization of prior service cost	23		26
Recognized net actuarial loss	13		165
Net periodic pension (gain) cost	$	(93)	$	46

Schedule of Weighted Average Assumptions Used


	Year Ended December 31,
	2022		2021
Discount rate	4.8	%	1.8	%
Expected rate of return on plan assets	5.7	%	3.8	%

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

Amounts applicable to the Company’s pension plans with accumulated benefit obligations in excess of plan assets were as follows as of December 31, 2022 and 2021:


	December 31,
	2022		2021
Projected benefit obligation	$	4,671	$	9,135
Accumulated benefit obligation	4,671		9,135
Fair value of plan assets	5,745		8,409

Schedule of Investment Allocation and Target Allocation

The target asset allocation percentages for 2022 were as follows:




Equity securities						Up to 100%
Commercial property						Not to exceed 50%
U.K. Government securities						Not to exceed 50%
Cash						Up to 100%

The plan assets by category for the years ended December 31, 2022 and 2021 were as follows:


	December 31,
	2022		2021
Asset Category
Cash and cash equivalents	$	540	$	339
Equity securities	2,530		3,822
Bonds	2,296		3,491
Other	379		757
Total	$	5,745	$	8,409

Schedule of Expected Benefit Payments

The following estimated future benefits payments are expected to be paid under the United Kingdom defined benefit plan:


Year Ending December 31,
2023	$	288
2024	302
2025	312
2026	318
2027	324
Years 2028-2032	1,415

Other Postretirement Benefits Plan

Defined Benefit Plan Disclosure

Schedule of Weighted Average Assumptions Used



	December 31, 2021
Discount rate	3.1	%
Weighted average health care trend rate	4.7	%

Commitments and Contingent Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

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, 2021	$	1,042
Additions to warranty liability	211
Warranty liability utilized	(383)

Balance as of December 31, 2022	$	870

Schedule of Future Payments of Legal Settlements

The expected payments under the UPRR Settlement Agreement for the year ending December 31, 2023 and thereafter were as follows:


Year Ending December 31,
2023	$	8,000
2024	8,000




Total	$	16,000

Environmental Loss Contingencies

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


	Environmental Liability
Balance as of December 31, 2021	$	2,519
Additions to environmental obligations	40
Environmental obligations utilized	(87)
Balance as of December 31, 2022	$	2,472

Other Income (Tables)

12 Months Ended

Dec. 31, 2022

Other Income and Expenses [Abstract]

Other Income

The following table summarizes the Company’s other income for the years ended December 31, 2022 and 2021.


	2022		2021
Gain on Piling Products division asset sale (a)	$	(489)	$	(2,741)
Insurance proceeds (b)	(790)		—
Loss on the sale of Track Components (c)	467		—
Costs recovered from environmental cleanup activities (d)	(325)		—


Foreign currency losses	434		452
Other	(847)		(786)
Other income - net	$	(1,550)	$	(3,075)

b.In 2022, the Company received $790 in insurance proceeds.

d.In 2022, the Company received $325 to recover costs associated with environmental cleanup activities in a formerly leased property in Magnolia, TX.

Summary of Significant Accounting Policies (Details)				12 Months Ended
Summary of Significant Accounting Policies (Details)	Aug. 01, 2022 USD ($)	Jun. 21, 2022 USD ($)	Sep. 24, 2021 USD ($)	Dec. 31, 2022 USD ($) segment facility	Dec. 31, 2021 USD ($)	Aug. 12, 2022 USD ($)
Property, Plant and Equipment
Number of reporting segments \| segment				3
Proceeds from divestiture of assets	$ 7,795,000
Cash and cash equivalents				$ 2,882,000	$ 10,372,000
Goodwill and long-lived assets impairment charges (Note 5)				0	0
Product warranty reserve				870,000	1,042,000
Foreign currency transaction gain (loss)				(434,000)	(452,000)
Research and development expenses				$ 2,219,000	2,233,000
Skratch
Property, Plant and Equipment
Business combination, stock acquire		$ 7,402,000
Business combination, deferred consideration		$ 1,228,000
Business combination, term for payment of deferred consideration		5 years
VanHooseCo
Property, Plant and Equipment
Business combination, stock acquire						$ 52,146,000
Escrow deposit						$ 2,500,000
Buildings \| Minimum
Property, Plant and Equipment
Property, plant and equipment useful life				8 years
Buildings \| Maximum
Property, Plant and Equipment
Property, plant and equipment useful life				40 years
Machinery and equipment \| Minimum
Property, Plant and Equipment
Property, plant and equipment useful life				2 years
Machinery and equipment \| Maximum
Property, Plant and Equipment
Property, plant and equipment useful life				50 years
Leasehold improvements \| Minimum
Property, Plant and Equipment
Property, plant and equipment useful life				7 years
Leasehold improvements \| Maximum
Property, Plant and Equipment
Property, plant and equipment useful life				19 years
Non Domestic
Property, Plant and Equipment
Cash and cash equivalents				$ 2,012,000	$ 6,168,000
Discontinued Operations, Disposed of by Sale
Property, Plant and Equipment
Proceeds from divestiture of businesses			$ 23,902,000
Precast Concrete Products
Property, Plant and Equipment
Number of manufacturing facilities \| facility				5

Business Segments - Narratives (Details) $ in Thousands		12 Months Ended
Business Segments - Narratives (Details) $ in Thousands	Aug. 01, 2022 USD ($)	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)
Segment Reporting [Abstract]
Number of reporting segments \| segment		3
Pre-tax loss \| $	$ 467	$ 214	$ (2,741)

Business Segments - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information
Net Sales	$ 497,497	$ 513,620
Segment Operating Profit (Loss)	(7,206)	4,471
Segment Assets	365,310	342,595
Depreciation/Amortization	14,779	13,887
Expenditures for Long-Lived Assets	7,633	4,620
Rail, Technologies, and Services
Segment Reporting Information
Net Sales	300,592	299,749
Precast Concrete Products
Segment Reporting Information
Net Sales	104,212	70,990
Steel Products and Measurement
Segment Reporting Information
Net Sales	92,693	142,881
Operating Segments
Segment Reporting Information
Net Sales	497,497	513,620
Segment Operating Profit (Loss)	2,322	13,308
Segment Assets	335,225	278,725
Depreciation/Amortization	13,284	12,543
Expenditures for Long-Lived Assets	4,318	3,600
Operating Segments \| Rail, Technologies, and Services
Segment Reporting Information
Net Sales	300,592	299,749
Segment Operating Profit (Loss)	11,454	14,165
Segment Assets	172,111	171,608
Depreciation/Amortization	5,620	6,089
Expenditures for Long-Lived Assets	1,218	1,081
Operating Segments \| Precast Concrete Products
Segment Reporting Information
Net Sales	104,212	70,990
Segment Operating Profit (Loss)	1,692	1,545
Segment Assets	108,598	48,740
Depreciation/Amortization	3,162	1,716
Expenditures for Long-Lived Assets	2,833	2,441
Operating Segments \| Steel Products and Measurement
Segment Reporting Information
Net Sales	92,693	142,881
Segment Operating Profit (Loss)	(10,824)	(2,402)
Segment Assets	54,516	58,377
Depreciation/Amortization	4,502	4,738
Expenditures for Long-Lived Assets	$ 267	$ 78

Business Segments - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income from operations:
Operating (loss) income	$ (7,206)	$ 4,471
Other income - net	1,550	3,075
(Loss) income from continuing operations before income taxes	(8,996)	4,590
Assets:
Segment Assets	365,310	342,595
Depreciation/Amortization:
Depreciation/Amortization	14,779	13,887
Expenditures for Long-Lived Assets:
Expenditures for Long-Lived Assets	7,633	4,620
Operating Segments
Income from operations:
Operating (loss) income	2,322	13,308
Interest expense - net	(3,340)	(2,956)
Other income - net	1,550	3,075
Corporate expense and other unallocated charges	(9,528)	(8,837)
(Loss) income from continuing operations before income taxes	(8,996)	4,590
Assets:
Segment Assets	335,225	278,725
Depreciation/Amortization:
Depreciation/Amortization	13,284	12,543
Expenditures for Long-Lived Assets:
Expenditures for Long-Lived Assets	4,318	3,600
Unallocated corporate assets
Assets:
Segment Assets	30,085	63,870
Depreciation/Amortization:
Depreciation/Amortization	1,495	1,344
Expenditures for Long-Lived Assets:
Expenditures for Long-Lived Assets	$ 3,315	$ 1,020

Business Segments - Sales by Geographical Location (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets
Net Sales	$ 497,497	$ 513,620
United States
Revenues from External Customers and Long-Lived Assets
Net Sales	378,339	391,218
Canada
Revenues from External Customers and Long-Lived Assets
Net Sales	38,489	36,477
United Kingdom
Revenues from External Customers and Long-Lived Assets
Net Sales	46,590	57,600
Other
Revenues from External Customers and Long-Lived Assets
Net Sales	$ 34,079	$ 28,325

- 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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Business Segments - Long-Lived Assets By Geographical Location (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information
Long-Lived assets	$ 85,344	$ 58,222
United States
Segment Reporting Information
Long-Lived assets	82,846	53,527
Canada
Segment Reporting Information
Long-Lived assets	110	2,597
United Kingdom
Segment Reporting Information
Long-Lived assets	1,533	1,668
Other
Segment Reporting Information
Long-Lived assets	$ 855	$ 430

Business Segment - Sales by Major Product Line (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenue from External Customer
Net Sales	$ 497,497	$ 513,620
Rail, Technologies, and Services
Revenue from External Customer
Net Sales	300,592	299,749
Precast Concrete Products
Revenue from External Customer
Net Sales	104,212	70,990
Steel Products and Measurement
Revenue from External Customer
Net Sales	92,693	142,881
Rail Products and Global Friction Management \| Rail, Technologies, and Services
Revenue from External Customer
Net Sales	255,713	248,237
Technology Services and Solutions \| Rail, Technologies, and Services
Revenue from External Customer
Net Sales	44,879	51,512
Precast Concrete Buildings \| Precast Concrete Products
Revenue from External Customer
Net Sales	61,143	55,993
Other Precast Concrete Products \| Precast Concrete Products
Revenue from External Customer
Net Sales	43,069	14,997
Coatings and Measurement \| Steel Products and Measurement
Revenue from External Customer
Net Sales	38,329	27,833
Fabricated Steel Products \| Steel Products and Measurement
Revenue from External Customer
Net Sales	$ 54,364	$ 115,048

Acquisitions and Divestitures - Narrative (Details) $ in Thousands					5 Months Ended	12 Months Ended
	Aug. 12, 2022 USD ($) Agreement	Aug. 01, 2022 USD ($)	Jun. 21, 2022 USD ($)	Sep. 24, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Finite-Lived Intangible Assets
Business combination, acquisition related costs						$ 2,043
Proceeds from divestiture of assets		$ 7,795
Loss (gain) on asset divestiture		$ 467				$ 214	$ (2,741)
Proceeds of total sales expected				$ 23,902
Sale of total product divestiture, pre tax gain (loss)				$ 3,230
Skratch
Finite-Lived Intangible Assets
Business combination, stock acquire			$ 7,402
Business combination, deferred consideration			$ 1,228
Business combination, term for payment of deferred consideration			5 years
VanHooseCo
Finite-Lived Intangible Assets
Business combination, stock acquire	$ 52,146
Escrow deposit	$ 2,500
Number of employment agreement \| Agreement	2
Business combination, contingent consideration, liability	$ 1,000
Business combination, acquiree, net sales					$ 17,788
Business combination, acquiree, operating profit					$ 1,555

Acquisitions and Divestitures - Schedule of Business Acquisition, Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Diluted earnings from continuing operations per common share (usd per share)	$ (4.25)	$ 0.33
VanHooseCo
Business Acquisition [Line Items]
Net sales	$ 522,997	$ 540,359
Net (loss) income attributable to L.B. Foster Company	$ (44,564)	$ 2,223
Diluted earnings from continuing operations per common share (usd per share)	$ (4.25)	$ 0.33
Diluted (loss) earnings per share, Pro forma (usd per share)	$ (4.16)	$ 0.21

- Definition

The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
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-Paragraph 11
-Subparagraph (a)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

+ Details

Acquisitions and Divestitures - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Aug. 12, 2022	Jun. 21, 2022	Dec. 31, 2021	Dec. 31, 2020
Allocation of purchase price
Goodwill	$ 30,733			$ 20,152	$ 20,340
Identifiable intangible assets
Net Carrying Amount	68,002			80,121
Non-compete agreements
Identifiable intangible assets
Net Carrying Amount	27
Customer relationships
Identifiable intangible assets
Net Carrying Amount	27,184			$ 36,163
Favorable lease
Identifiable intangible assets
Net Carrying Amount	327
VanHooseCo
Allocation of purchase price
Current assets, net of cash acquired on the acquisition date		$ 11,138
Property, plant, and equipment		30,410
Goodwill		8,221
Other intangibles		5,442
Liabilities assumed		(3,065)
Total		$ 52,146
Identifiable intangible assets
Net Carrying Amount	$ 5,442
VanHooseCo \| Non-compete agreements
Identifiable intangible assets
Weighted Average Amortization Period In Years	0 years
Net Carrying Amount	$ 0
VanHooseCo \| Customer relationships
Identifiable intangible assets
Weighted Average Amortization Period In Years	5 years
Net Carrying Amount	$ 3,578
VanHooseCo \| Trademarks and trade names
Identifiable intangible assets
Weighted Average Amortization Period In Years	10 years
Net Carrying Amount	$ 1,537
VanHooseCo \| Favorable lease
Identifiable intangible assets
Weighted Average Amortization Period In Years	6 years
Net Carrying Amount	$ 327
Skratch
Allocation of purchase price
Current assets, net of cash acquired on the acquisition date			$ 1,129
Property, plant, and equipment			174
Goodwill			5,549
Other intangibles			1,750
Liabilities assumed			(1,200)
Total			$ 7,402
Identifiable intangible assets
Net Carrying Amount	$ 1,750
Skratch \| Non-compete agreements
Identifiable intangible assets
Weighted Average Amortization Period In Years	1 year
Net Carrying Amount	$ 27
Skratch \| Customer relationships
Identifiable intangible assets
Weighted Average Amortization Period In Years	3 years
Net Carrying Amount	$ 1,349
Skratch \| Trademarks and trade names
Identifiable intangible assets
Weighted Average Amortization Period In Years	10 years
Net Carrying Amount	$ 374
Skratch \| Favorable lease
Identifiable intangible assets
Weighted Average Amortization Period In Years	0 years
Net Carrying Amount	$ 0

Revenue - Narratives (Details) - USD ($) $ in Thousands	12 Months Ended
Revenue - Narratives (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue
Deferred revenue	$ 19,452	$ 13,411
Contract with customer, assets	33,613	36,179
Contract assets transferred to receivables	(15,018)	24,501
Contract liabilities	6,781	3,245
ContractwithCustomerLiabilityIncreasefromCashReceipts	2,910	3,245
Revenue recognized from contract liability	(2,665)	$ (917)
Revenue remaining performance obligation	$ 272,251
Point in time
Disaggregation of Revenue
Customer revenue transferred (percentage)	72.70%	70.10%

Revenue - Over Time Sales (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue
Over time sales, amount	$ 135,910	$ 153,631
Over time sales, percentage	27.30%	29.90%
Over time input method
Disaggregation of Revenue
Over time sales, amount	$ 67,116	$ 100,787
Over time sales, percentage	13.50%	19.60%
Over time output method
Disaggregation of Revenue
Over time sales, amount	$ 68,794	$ 52,844
Over time sales, percentage	13.80%	10.30%

Revenue - Timing of Transfer (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue
Net Sales	$ 497,497	$ 513,620
Point in time
Disaggregation of Revenue
Net Sales	361,587	359,989
Over time
Disaggregation of Revenue
Net Sales	135,910	153,631
Rail, Technologies, and Services
Disaggregation of Revenue
Net Sales	300,592	299,749
Rail, Technologies, and Services \| Point in time
Disaggregation of Revenue
Net Sales	241,759	232,880
Rail, Technologies, and Services \| Over time
Disaggregation of Revenue
Net Sales	58,833	66,869
Precast Concrete Products
Disaggregation of Revenue
Net Sales	104,212	70,990
Precast Concrete Products \| Point in time
Disaggregation of Revenue
Net Sales	43,069	21,351
Precast Concrete Products \| Over time
Disaggregation of Revenue
Net Sales	61,143	49,639
Steel Products and Measurement
Disaggregation of Revenue
Net Sales	92,693	142,881
Steel Products and Measurement \| Point in time
Disaggregation of Revenue
Net Sales	76,759	105,758
Steel Products and Measurement \| Over time
Disaggregation of Revenue
Net Sales	$ 15,934	$ 37,123

- Definition

+ References

+ Details

Revenue - Remaining Performance Obligation (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue remaining performance obligation	$ 272,251
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Revenue remaining performance obligation (percentage)	8.30%
Performance obligations expected to be satisfied, expected timing	1 year

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill
Goodwill, beginning balance	$ 20,152	$ 20,340
Acquisitions		(22)
Acquisitions	13,770
Foreign currency translation impact	(178)	(166)
Impairment charges	(3,011)
Goodwill, ending balance	30,733	20,152
Rail, Technologies, and Services
Goodwill
Goodwill, beginning balance	14,577	14,743
Acquisitions		0
Acquisitions	5,549
Foreign currency translation impact	(178)	(166)
Impairment charges	0
Goodwill, ending balance	19,948	14,577
Precast Concrete Products
Goodwill
Goodwill, beginning balance	2,564	2,586
Acquisitions		(22)
Acquisitions	8,221
Foreign currency translation impact	0	0
Impairment charges	0
Goodwill, ending balance	10,785	2,564
Steel Products and Measurement
Goodwill
Goodwill, beginning balance	3,011	3,011
Acquisitions		0
Acquisitions	0
Foreign currency translation impact	0	0
Impairment charges	(3,011)
Goodwill, ending balance	$ 0	$ 3,011

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Aug. 01, 2022	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets
Percentage Of Goodwill Impairment		100.00%
Amortization expense			$ 6,144	$ 5,836
Asset impairments		$ 4,883	8,016	$ 0
Customer relationships
Finite-Lived Intangible Assets
Increase (decrease) in gross carrying value of intangible assets	$ (5,448)
Increase (decrease) in net carrying value of intangible assets	(2,869)
Goodwill and intangible asset impairment			3,828
Trademarks and trade names
Finite-Lived Intangible Assets
Goodwill and intangible asset impairment			394
Developed Technology Rights
Finite-Lived Intangible Assets
Goodwill and intangible asset impairment			$ 661
Technology
Finite-Lived Intangible Assets
Increase (decrease) in gross carrying value of intangible assets	(471)
Increase (decrease) in net carrying value of intangible assets	$ (7)
Minimum
Finite-Lived Intangible Assets
Finite lived intangible asset, useful life			1 year
Maximum
Finite-Lived Intangible Assets
Finite lived intangible asset, useful life			25 years
Weighted Average
Finite-Lived Intangible Assets
Finite lived intangible asset, useful life			15 years
Weighted Average \| Customer relationships
Finite-Lived Intangible Assets
Finite lived intangible asset, useful life			16 years	18 years
Weighted Average \| Technology
Finite-Lived Intangible Assets
Finite lived intangible asset, useful life			14 years	13 years

Goodwill and Other Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets
Net Carrying Amount	$ 68,002	$ 80,121
Accumulated Amortization	(44,171)	(49,098)
Net Carrying Amount	23,831	31,023
Non-compete agreements
Finite-Lived Intangible Assets
Net Carrying Amount	27
Accumulated Amortization	(16)
Net Carrying Amount	11
Patents
Finite-Lived Intangible Assets
Net Carrying Amount	330	385
Accumulated Amortization	(187)	(218)
Net Carrying Amount	143	167
Customer relationships
Finite-Lived Intangible Assets
Net Carrying Amount	27,184	36,163
Accumulated Amortization	(14,129)	(18,222)
Net Carrying Amount	13,055	17,941
Trademarks and trade names
Finite-Lived Intangible Assets
Net Carrying Amount	7,933	7,801
Accumulated Amortization	(3,989)	(4,702)
Net Carrying Amount	3,944	3,099
Technology
Finite-Lived Intangible Assets
Net Carrying Amount	32,201	35,772
Accumulated Amortization	(25,827)	(25,956)
Net Carrying Amount	6,374	$ 9,816
Favorable lease
Finite-Lived Intangible Assets
Net Carrying Amount	327
Accumulated Amortization	(23)
Net Carrying Amount	$ 304
Weighted Average
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	15 years
Weighted Average \| Non-compete agreements
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	1 year
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	16 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
Weighted Average \| Favorable lease
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	6 years

Goodwill and Other Intangible Assets - Schedule of Expected Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 5,268
2024	4,273
2025	2,878
2026	2,268
2027	1,953
2028 and thereafter	7,191
Net Carrying Amount	$ 23,831	$ 31,023

Accounts Receivable - Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Receivables [Abstract]
Accounts receivable	$ 83,268	$ 56,458
Allowance for credit losses	(813)	(547)
Accounts receivable - net	$ 82,455	$ 55,911

Accounts Receivable - Narratives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Receivables [Abstract]
Reserve for uncollectable accounts income (expense)	$ 382	$ 87

Accounts Receivable - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning balance	$ 547
Reserve for uncollectable accounts income (expense)	382	$ 87
Write-off against allowance	(116)
Allowance for credit losses, ending balance	$ 813	$ 547

Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 41,431	$ 23,822
Work-in-process	9,693	10,738
Raw materials	24,597	28,311
Inventories - net	$ 75,721	$ 62,871

Property, Plant and Equipment (Details) - USD ($)	12 Months Ended
Property, Plant and Equipment (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment
Gross property, plant, and equipment	$ 189,412,000	$ 162,061,000
Less: accumulated depreciation and amortization, including accumulated amortization of finance leases	(104,068,000)	(103,839,000)
Property, plant, and equipment - net	85,344,000	58,222,000
Depreciation	8,635,000	8,051,000
Impairments of property, plant, and equipment	0	0
Land
Property, Plant and Equipment
Gross property, plant, and equipment	5,284,000	6,224,000
Improvements to land and leaseholds
Property, Plant and Equipment
Gross property, plant, and equipment	19,956,000	15,416,000
Buildings
Property, Plant and Equipment
Gross property, plant, and equipment	34,814,000	27,206,000
Machinery and equipment, including equipment under finance leases
Property, Plant and Equipment
Gross property, plant, and equipment	123,806,000	112,021,000
Construction in progress
Property, Plant and Equipment
Gross property, plant, and equipment	$ 5,552,000	$ 1,194,000

Leases - Narratives (Details)	12 Months Ended
Leases - Narratives (Details)	Dec. 31, 2022
Lessee, Lease, Description
Lessee lease renewal term	12 years
Lessee, lease, termination period	1 year
Minimum
Lessee, Lease, Description
Lessee remaining lease term	2 years
Maximum
Lessee, Lease, Description
Lessee remaining lease term	12 years

Leases - Balance Sheet Location (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Operating leases
Operating lease right-of-use assets	$ 17,291	$ 15,131
Other current liabilities	3,128	2,852
Long-term operating lease liabilities	14,163	12,279
Total operating lease liabilities	17,291	15,131
Finance leases
Property, plant, and equipment	1,442	1,162
Accumulated amortization	(1,130)	(1,011)
Property, plant, and equipment - net	312	151
Current maturities of long-term debt	127	98
Long-term debt	185	53
Total finance lease liabilities	$ 312	$ 151
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other accrued liabilities	Other accrued liabilities
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, plant, and equipment - net (Note 8)	Property, plant, and equipment - net (Note 8)
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt and Lease Obligation, Current	Long-Term Debt and Lease Obligation, Current
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term portion	Long-term portion

Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Finance lease cost:
Amortization of finance leases	$ 177	$ 203
Interest on lease liabilities	34	82
Operating lease cost	2,891	2,784
Sublease income	(200)	(200)
Total lease cost	$ 2,902	$ 2,869

Leases - Cash Flow Components (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ (3,440)	$ (3,342)
Financing cash flows from finance leases	(164)	(221)
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$ 5,257	$ 1,847

Leases - Weighted Average Lease Term and Discount Rate (Details)	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease weighted-average remaining lease term	7 years	6 years
Operating lease weighted-average discount rate	5.20%	5.20%
Finance lease weighted-average remaining lease term	2 years	1 year
Finance lease weighted-average discount rate	3.70%	4.10%

Leases - Estimated Annual Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Operating Leases
2023	$ 4,002
2024	3,620
2025	3,043
2026	2,811
2027	2,007
2028 and thereafter	4,988
Operating lease, liability, payments, due	20,471
Interest	(3,180)
Total operating lease liabilities	17,291	$ 15,131
Finance Leases
2023	160
2024	112
2025	76
2026	6
2027	0
2028 and thereafter	0
Finance lease liability, payments, due	354
Interest	(42)
Total finance lease liabilities	$ 312	$ 151

Long-Term Debt and Related Matters - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Revolving credit facility with an interest rate of 6.93% as of December 31, 2022 and 1.61% as of December 31, 2021	$ 91,567	$ 31,100
Lease obligations payable in installments through 2024 with a weighted average interest rate of 4.80% as of December 31, 2022 and 4.14% as of December 31, 2021	312	151
Total debt	91,879	31,251
Less: current maturities	(127)	(98)
Long-term portion	$ 91,752	$ 31,153
Interest rate on credit facility (percent)	6.93%	1.61%
Weighted average interest rate on debt (percent)	4.80%	4.14%

- 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 and Related Matters - Schedule of Long Term Debt Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
2023	$ 127
2024	101
2025	75
2026	91,576
2027	0
2028 and thereafter	0
Total debt	$ 91,879	$ 31,251

Long-Term Debt and Related Matters - Narrative (Details)	Aug. 12, 2022	Aug. 13, 2021 USD ($)	Dec. 31, 2022 USD ($) covenant	Dec. 31, 2021 USD ($)
Line of Credit Facility
Line of credit facility, amount outstanding			$ 91,567,000	$ 31,100,000
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association \| Fourth Amended And Restated Credit Agreement
Line of Credit Facility
Minimum fixed charge coverage ratio		1.05
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association \| Fourth Amended And Restated Credit Agreement \| Debt Instrument, Redemption, Period One
Line of Credit Facility
Number of financial covenants \| covenant			2
Maximum leverage ratio		3.25
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association \| Fourth Amended And Restated Credit Agreement \| Debt Instrument, Redemption, Period Two
Line of Credit Facility
Maximum leverage ratio		3.50
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association \| Overnight Bank Funding Rate \| Fourth Amended And Restated Credit Agreement
Line of Credit Facility
Debt instrument, basis spread on variable rate	0.50%
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association \| London Interbank Offered Rate (LIBOR) \| Fourth Amended And Restated Credit Agreement
Line of Credit Facility
Debt instrument, basis spread on variable rate	1.00%
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association \| London Interbank Offered Rate (LIBOR) \| Minimum \| Fourth Amended And Restated Credit Agreement
Line of Credit Facility
Debt instrument, basis spread on variable rate	1.25%
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association \| London Interbank Offered Rate (LIBOR) \| Maximum \| Fourth Amended And Restated Credit Agreement
Line of Credit Facility
Debt instrument, basis spread on variable rate	2.50%	2.25%
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association \| Base Rate \| Minimum \| Fourth Amended And Restated Credit Agreement
Line of Credit Facility
Debt instrument, basis spread on variable rate	0.25%
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association \| Base Rate \| Maximum \| Fourth Amended And Restated Credit Agreement
Line of Credit Facility
Debt instrument, basis spread on variable rate	1.50%	1.25%
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association \| Revolving Credit Facility
Line of Credit Facility
Liquidity covenant		$ 15,000,000
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association \| Revolving Credit Facility \| Debt Instrument, Redemption, Period One
Line of Credit Facility
Acquisition consideration threshold		$ 50,000,000
Acquisition consideration threshold percent		275.00%
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association \| Revolving Credit Facility \| Debt Instrument, Redemption, Period Two
Line of Credit Facility
Acquisition consideration threshold		$ 75,000,000
Acquisition consideration threshold percent		175000.00%
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association \| Revolving Credit Facility \| Fourth Amended And Restated Credit Agreement
Line of Credit Facility
Debt instrument, term		5 years
Line of credit facility, maximum borrowing capacity		$ 130,000,000
Line of credit, accordion feature, lower borrowing capacity		25,000,000
Line of credit facility, maximum increase in commitments		50,000,000
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association \| Revolving Credit Facility \| Prior Credit Facility
Line of Credit Facility
Line of credit facility, increase (decrease)		$ 15,000,000
PNC Bank, N.A., Bank of America, N.A., Wells Fargo Bank, N.A., Citizens Bank of Pennsylvania, and Branch Banking and Trust Company \| Revolving Credit Facility
Line of Credit Facility
Line of credit facility, amount outstanding			$ 619,000	544,000
Line of credit facility, current borrowing capacity			$ 37,814,000	$ 98,356,000

Stockholders' Equity - Narratives (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	11,115,779	11,115,779
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Shares paid for tax withholding (shares)	27,636	45,288
Adjustments related to tax withholding	$ 410	$ 732
Treasury shares acquired (shares)	0	0

Stockholders' Equity - Rollforward of Common Stock (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Increase (Decrease) in Stockholders' Equity
Beginning (shares)	10,670,343
Ending (shares)	10,776,827	10,670,343
Treasury
Increase (Decrease) in Stockholders' Equity
Beginning (shares)	445,436	552,489
Issued (forfeited) for stock-based compensation plans (in shares)	(106,484)	(107,053)
Ending (shares)	338,952	445,436
Common Stock
Increase (Decrease) in Stockholders' Equity
Beginning (shares)	10,670,343	10,563,290
Issued for stock-based compensation plans (shares)	106,484	107,053
Ending (shares)	10,776,827	10,670,343

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss	$ 137,178	$ 183,092
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss	(21,165)	(18,845)
Pension and post-retirement benefit plan adjustments
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss	(1,112)	(2,517)
Unrealized income on interest rate swap contracts
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss	1,982	68
Foreign currency translation adjustments
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss	$ (22,035)	$ (16,396)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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+ Details

Earning Per Common Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Numerator for basic and diluted (loss) earnings per common share:
Net (loss) income from continuing operations attributable to L.B. Foster Company	$ (45,564)	$ 3,554
Income from discontinued operations	0	72
Net (loss) income attributable to L.B. Foster Company	$ (45,564)	$ 3,626
Denominator:
Weighted average shares outstanding (shares)	10,720,000	10,623,000
Denominator for basic earnings per common share (shares)	10,720,000	10,623,000
Effect of dilutive securities:
Stock compensation plans (in shares)	0	129,000
Dilutive potential common shares (in shares)	0	129,000
Denominator for diluted earnings per common share - adjusted weighted average shares outstanding and assumed conversions (in shares)	10,720,000	10,752,000
Basic earnings from continuing operations (usd per share)	$ (4.25)	$ 0.33
Basic earnings (loss) from discontinued operations per common share (usd per share)	0	0.01
Basic (loss) earnings per common share (usd per share)	(4.25)	0.34
Diluted earnings from continuing operations per common share (usd per share)	(4.25)	0.33
Diluted earnings (loss) from discontinued operations per common share (usd per share)	0	0.01
Diluted (loss) earnings per common share (usd per share)	$ (4.25)	$ 0.34
Anti-dilutive share (in shares)	75,000

Income Taxes - Income Before Income Tax Domestic And Foreign Components Table (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Domestic	$ (5,074)	$ 2,772
Foreign	(3,922)	1,818
(Loss) income from continuing operations before income taxes	$ (8,996)	$ 4,590

- 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
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+ Details

Income Taxes - Significant Components Of The Provision For Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 0	$ 0
State	127	(237)
Foreign	769	1,217
Total current	896	980
Deferred:
Federal	28,287	(675)
State	9,001	1,450
Foreign	(1,503)	(636)
Total deferred	35,785	139
Total income tax expense	$ 36,681	$ 1,119

Income Taxes - Reconciliation Of Income Tax Rates (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Amount
Statutory rate	$ (1,889)	$ 964
Foreign tax rate differential	(306)	20
State income taxes, net of federal benefit	327	132
Non-deductible expenses	200	153
Tax benefits related to disposition of the Test and Inspection Services business	0	(2,130)
Income tax credits	(261)	(227)
Change in income tax rates	176	379
Tax on unremitted foreign earnings	439	(68)
Change in valuation allowance	37,895	1,807
Other	100	89
Total income tax expense	$ 36,681	$ 1,119
Effective Income Tax Rate Reconciliation, Percent
Statutory rate	21.00%	21.00%
Foreign tax rate differential	3.40%	0.40%
State income taxes, net of federal benefit	(3.60%)	2.90%
Non-deductible expenses	(2.20%)	3.30%
Tax benefits related to disposition of the Test and Inspection Services business	0.00%	(46.40%)
Income tax credits	2.90%	(4.90%)
Change in income tax rates	(2.00%)	8.30%
Tax on unremitted foreign earnings	(4.90%)	(1.50%)
Change in valuation allowance	(421.20%)	39.40%
Other	(1.10%)	1.90%
Total income tax expense/ Effective rate	(407.70%)	24.40%

Income Taxes - Significant Components Of Deferred Tax Liabilities And Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Goodwill and other intangibles	$ 8,099	$ 7,047
Accrued settlement	3,915	6,000
Deferred compensation	2,396	2,165
Contingent liabilities	613	644
Net operating loss / tax credit carryforwards	30,812	28,932
Pension and post-retirement liability	297	1,218
Inventories	1,790	500
Warranty reserve	202	248
Accounts receivable	181	129
Interest deduction carryforward	775	161
Capitalized research expenditures	1,292	0
Other	644	767
Total deferred tax assets	51,016	47,811
Less: valuation allowance	(40,601)	(3,290)
Net deferred tax assets	10,415	44,521
Deferred tax liabilities:
Goodwill and other intangibles	(2,803)	(3,814)
Depreciation	(9,434)	(6,919)
Unrealized income on interest rate swap contracts	(472)	0
Unremitted earnings of foreign subsidiaries	(625)	(220)
Other	(166)	(79)
Total deferred tax liabilities	(13,500)	(11,032)
Net deferred tax (liabilities) assets	$ (3,085)
Net deferred tax (liabilities) assets		$ 33,489

Income Taxes - Narratives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards
Deferred tax asset valuation allowance	$ 40,601	$ 3,290
Operating loss carryforward, valuation allowance	948
Foreign earnings repatriated	12,500
Unremitted earnings of foreign subsidiary	625	220
Unrecognized tax benefit that would impact effective tax rate	354
Accrued interest and penalties	356	333
Domestic Tax Authority
Operating Loss Carryforwards
Operating loss carryforwards	96,034
Research tax credit carryforward, amount	1,531
State and local
Operating Loss Carryforwards
Operating loss carryforwards	9,574	$ 9,643
Foreign tax authority \| Secretariat of the Federal Revenue Bureau of Brazil
Operating Loss Carryforwards
Operating loss carryforwards	$ 5,068

Income Taxes - Reconciliation Of Unrecognized Tax Benefits Table (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns
Unrecognized tax benefit beginning of period:	$ 365	$ 409
Decrease based on tax position for prior periods	(11)	(44)
Balance at end of period	$ 354	$ 365

Stock-based Compensation - Narrative (Details) - USD ($)	1 Months Ended		12 Months Ended
	Jun. 30, 2022	Feb. 28, 2021	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation			$ 2,380,000	$ 1,945,000
Expected cost on shares expected to vest			$ 2,599,000
Recognition period for compensation expense not yet recognized			4 years 2 months 12 days
Weighted average shares granted (usd per share)			$ 14.88	$ 16.83
Director
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period			1 year
Fully Vested and Restricted Stock \| Director
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation			$ 697,000	$ 650,000
Granted (in shares)			45,840	35,255
Weighted average shares granted (usd per share)			$ 13.09	$ 17.87
Deferred Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)			5,730	8,814
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)			125,582	111,337
Restricted Stock \| Vesting period two
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period			3 years
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period			3 years
Granted (in shares)			110,600	147,367
Restricted Stock And Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation			$ 1,683,000	$ 1,295,000
Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation, number of shares authorized (in shares)			2,058,000
Omnibus Plan \| Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Performance based incentive stock award retention program period		5 years
Share-based payment award, maximum number of shares per employee (in shares)		3,333
Omnibus Plan \| Performance Stock Units \| Vesting period one
Share-based Compensation Arrangement by Share-based Payment Award
Share-based payment award vesting rights, percentage		50.00%
Share-based payment award, maximum number of shares per employee (in shares)		1,666
Target share price (usd per share)		$ 25.00
Omnibus Plan \| Performance Stock Units \| Vesting period two
Share-based Compensation Arrangement by Share-based Payment Award
Share-based payment award vesting rights, percentage		50.00%
Share-based payment award, maximum number of shares per employee (in shares)		1,666
Target share price (usd per share)		$ 30.00
Equity and Incentive Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation, number of shares authorized (in shares)			765,000
Equity and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation, number of shares authorized (in shares)			854,077
Equity and Incentive Plan \| Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Performance based incentive stock award retention program period	4 years
Equity and Incentive Plan \| Performance Stock Units \| Achievement of EBITDA Margin
Share-based Compensation Arrangement by Share-based Payment Award
Share-based payment award vesting rights, percentage	50.00%
Equity and Incentive Plan \| Performance Stock Units \| Company's stock price
Share-based Compensation Arrangement by Share-based Payment Award
Share-based payment award vesting rights, percentage	50.00%
Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation, number of shares authorized (in shares)			89,077
Omnibus Plan and Equity and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation			$ 0	$ 0
Shares granted in period (in shares)			0	0
Omnibus Plan and Equity and Incentive Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Performance based incentive stock award retention program period			10 years
Omnibus Plan and Equity and Incentive Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period			1 year
Omnibus Plan and Equity and Incentive Plan \| Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award
Share-based payment award vesting rights, percentage			25.00%

Stock-based Compensation - Restricted Stock Deferred Stock, and Performance Share Units (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
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)	$ 19.75	$ 18.05
Weighted average shares granted (usd per share)	14.88	16.83
Weighted average shares vested (usd per share)	17.98	14.11
Weighted average shares adjustment for incentive awards expected to vest (usd per share)	16.67	17.75
Weighted average shares canceled and forfeited (usd per share)	18.57	16.46
Weighted average share price, ending balance (usd per share)	$ 17.77	$ 19.75
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)	135,704	171,934
Granted (in shares)	125,582	111,337
Vested (in shares)	(86,613)	(144,400)
Adjustment for incentive awards expected to vest (in shares)	0	0
Canceled and forfeited (in shares)	(500)	(3,167)
Nonvested Shares, Outstanding, Ending Balance (in shares)	174,173	135,704
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)	74,950	66,136
Granted (in shares)	5,730	8,814
Vested (in shares)	(34,412)	0
Adjustment for incentive awards expected to vest (in shares)	0	0
Canceled and forfeited (in shares)	0	0
Nonvested Shares, Outstanding, Ending Balance (in shares)	46,268	74,950
Performance 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)	116,571	150,022
Granted (in shares)	110,600	147,367
Vested (in shares)	(13,095)	(7,940)
Adjustment for incentive awards expected to vest (in shares)	(105,598)	(125,767)
Canceled and forfeited (in shares)	0	(47,111)
Nonvested Shares, Outstanding, Ending Balance (in shares)	108,478	116,571

Fair Value Measurements - Narrative (Details) - USD ($)	12 Months Ended
Fair Value Measurements - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Aug. 31, 2022	Aug. 12, 2022	Sep. 30, 2020	Feb. 28, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Interest expense - net	$ 3,340,000	$ 2,956,000
Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative, notional amount			$ 20,000,000	$ 20,000,000	$ 50,000,000	$ 50,000,000
Investment income	71,000	958,000
Interest expense - net	$ 157,000	$ 940,000
Swap 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative, notional amount			$ 20,000,000

Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	$ 17	$ 18
Interest rate swaps	$ 1,930	$ 175
Derivative Asset Statement Of Financial Position Extensible Enumeration Not Disclosed Flag	Interest rate swaps	Interest rate swaps
Total assets	$ 1,947	$ 193
Interest rate swaps	$ 0	$ 159
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other accrued liabilities	Other accrued liabilities
Total liabilities	$ 0	$ 159
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	17	18
Interest rate swaps	0	0
Total assets	17	18
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
Interest rate swaps	1,930	175
Total assets	1,930	175
Interest rate swaps	0	159
Total liabilities	0	159
Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	0	0
Interest rate swaps	0	0
Total assets	0	0
Interest rate swaps	0	0
Total liabilities	$ 0	$ 0

Retirement Plans - Narrative (Details) $ in Thousands	12 Months Ended
Retirement Plans - Narrative (Details) $ in Thousands	Dec. 31, 2022 USD ($) plan	Dec. 31, 2021 USD ($)
Pension Plan
Defined Benefit Plan Disclosure
Defined contribution plan number \| plan	5
Net loss to be recognize during the next fiscal period \| $	$ 92
Pension Plan \| United States
Defined Benefit Plan Disclosure
Number of retirement plans \| plan	3
Number of defined benefit plans \| plan	1
Defined contribution plan number \| plan	2
Defined benefit plans, estimated future employer contributions in current fiscal year \| $	$ 400
Accrued pension obligation \| $	$ 2,309	$ 3,108
Pension Plan \| Canada
Defined Benefit Plan Disclosure
Defined contribution plan number \| plan	1
Pension Plan \| United Kingdom
Defined Benefit Plan Disclosure
Defined contribution plan number \| plan	2
Defined benefit plans, estimated future employer contributions in current fiscal year \| $	$ 337
Accrued pension obligation \| $		726
Other Postretirement Benefits Plan \| Technology Services and Solutions
Defined Benefit Plan Disclosure
Accrued pension obligation \| $		$ 856

Retirement Plans - Schedule of Benefit Obligation, Fair Value of Assets, and Funded Status of the Plans (Details) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
United States
Changes in benefit obligation:
Benefit obligation at beginning of year	$ 7,875	$ 8,448
Interest cost	194	172
Actuarial gain	(1,544)	(319)
Benefits paid	(424)	(426)
Benefit obligation at end of year	6,101	7,875
Change to plan assets:
Fair value of assets at beginning of year	4,767	4,459
Actual (loss) gain on plan assets	(1,007)	434
Employer contribution	456	300
Benefits paid	(424)	(426)
Fair value of assets at end of year	3,792	4,767
Funded status at end of year	(2,309)	(3,108)
Amounts recognized in the consolidated balance sheets consist of:
Other long-term liabilities	(2,309)	(3,108)
Amounts recognized in accumulated other comprehensive loss consist of:
Net (gain) loss	1,737	2,082
United Kingdom
Changes in benefit obligation:
Benefit obligation at beginning of year	9,135	10,265
Interest cost	135	109
Actuarial gain	(2,221)	(825)
Benefits paid	(1,424)	(302)
Foreign currency exchange rate changes	(954)	(112)
Benefit obligation at end of year	4,671	9,135
Change to plan assets:
Fair value of assets at beginning of year	8,409	7,975
Actual (loss) gain on plan assets	(742)	522
Employer contribution	319	336
Benefits paid	(1,363)	(338)
Foreign currency exchange rate changes	(878)	(86)
Fair value of assets at end of year	5,745	8,409
Funded status at end of year	1,074	(726)
Amounts recognized in the consolidated balance sheets consist of:
Other assets (long-term liabilities)	1,074
Other long-term liabilities		(726)
Amounts recognized in accumulated other comprehensive loss consist of:
Net (gain) loss	(1,425)	837
Prior service cost	90	127
Defined benefit plan, comprehensive (income) loss	$ (1,335)	$ 964

Retirement Plans - Schedule Of Net Benefit Costs (Details) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
United States
Components of net periodic benefit cost:
Interest cost	$ 194	$ 172
Expected return on plan assets	(264)	(247)
Recognized net actuarial loss	71	99
Net periodic pension (gain) cost	1	24
United Kingdom
Components of net periodic benefit cost:
Interest cost	135	109
Expected return on plan assets	(264)	(254)
Amortization of prior service cost	23	26
Recognized net actuarial loss	13	165
Net periodic pension (gain) cost	$ (93)	$ 46

Retirement Plans - Actuarial Assumptions (Details) - Pension Plan	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
United States
Defined Benefit Plan Disclosure
Discount rate	2.60%	2.10%
Expected rate of return on plan assets	5.60%	5.20%
United Kingdom
Defined Benefit Plan Disclosure
Discount rate	4.80%	1.80%
Expected rate of return on plan assets	5.70%	3.80%

Retirement Plans - Accumulated Benefit Obligations in Excess of Plan Asset (Details) - Pension Plan - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
United States
Defined Benefit Plan Disclosure
Projected benefit obligation	$ 6,101	$ 7,875	$ 8,448
Accumulated benefit obligation	6,101	7,875
Fair value of plan assets	3,792	4,767	4,459
United Kingdom
Defined Benefit Plan Disclosure
Projected benefit obligation	4,671	9,135	10,265
Accumulated benefit obligation	4,671	9,135
Fair value of plan assets	$ 5,745	$ 8,409	$ 7,975

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Retirement Plans - Plan Asset Investment Allocation Percentage (Details) - Pension Plan	Dec. 31, 2022	Dec. 31, 2021
United States
Asset Category
Percentage of Plan assets	100.00%	100.00%
United States \| Cash and cash equivalents
Asset Category
Percentage of Plan assets	6.00%	4.00%
United States \| Cash and cash equivalents \| Minimum
Asset Category
Target percentage of plan assets	0.00%
United States \| Cash and cash equivalents \| Maximum
Asset Category
Target percentage of plan assets	20.00%
United States \| Total fixed income funds
Asset Category
Percentage of Plan assets	7.00%	14.00%
United States \| Total fixed income funds \| Minimum
Asset Category
Target percentage of plan assets	25.00%
United States \| Total fixed income funds \| Maximum
Asset Category
Target percentage of plan assets	50.00%
United States \| Total mutual funds and equities
Asset Category
Percentage of Plan assets	87.00%	82.00%
United States \| Total mutual funds and equities \| Minimum
Asset Category
Target percentage of plan assets	35.00%
United States \| Total mutual funds and equities \| Maximum
Asset Category
Target percentage of plan assets	70.00%
United Kingdom \| Cash and cash equivalents \| Maximum
Asset Category
Target percentage of plan assets	100.00%
United Kingdom \| Equity securities \| Maximum
Asset Category
Target percentage of plan assets	100.00%
United Kingdom \| Commercial property \| Maximum
Asset Category
Target percentage of plan assets	50.00%
United Kingdom \| U.K. Government securities \| Maximum
Asset Category
Target percentage of plan assets	50.00%

Retirement Plans - Information About Plan Assets (Details) - Pension Plan - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
United States
Defined Benefit Plan Disclosure
Fair value of plan assets	$ 3,792	$ 4,767	$ 4,459
United States \| Cash and cash equivalents
Defined Benefit Plan Disclosure
Fair value of plan assets	222	171
United States \| Total fixed income funds
Defined Benefit Plan Disclosure
Fair value of plan assets	795	667
United States \| Corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	795	667
United States \| Total mutual funds and equities
Defined Benefit Plan Disclosure
Fair value of plan assets	2,775	3,929
United States \| Mutual funds
Defined Benefit Plan Disclosure
Fair value of plan assets	247	802
United States \| Equity securities
Defined Benefit Plan Disclosure
Fair value of plan assets	2,528	3,127
United Kingdom
Defined Benefit Plan Disclosure
Fair value of plan assets	5,745	8,409	$ 7,975
United Kingdom \| Cash and cash equivalents
Defined Benefit Plan Disclosure
Fair value of plan assets	540	339
United Kingdom \| Bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	2,296	3,491
United Kingdom \| Other
Defined Benefit Plan Disclosure
Fair value of plan assets	379	757
United Kingdom \| Equity securities
Defined Benefit Plan Disclosure
Fair value of plan assets	$ 2,530	$ 3,822

Retirement Plans - Future Benefit Payments (Details) - Pension Plan $ in Thousands	Dec. 31, 2022 USD ($)
United States
Defined Benefit Plan, Expected Future Benefit Payment
2023	$ 499
2024	496
2025	490
2026	485
2027	474
Years 2028-2032	2,190
United Kingdom
Defined Benefit Plan, Expected Future Benefit Payment
2023	288
2024	302
2025	312
2026	318
2027	324
Years 2028-2032	$ 1,415

Retirement Plans - Other Post-Retirement Retirement Plan (Details) - Other Postretirement Benefits Plan	Dec. 31, 2021
Defined Benefit Plan Disclosure
Discount rate (percent)	3.10%
Weighted average health care trend rate (percent)	4.70%

Retirement Plans - Schedule of Costs of Retirement Plans (Details) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined Contribution Plan Disclosure
Expenses associated with contributions made	$ 2,598	$ 2,139
United States
Defined Contribution Plan Disclosure
Expenses associated with contributions made	1,650	1,484
Canada
Defined Contribution Plan Disclosure
Expenses associated with contributions made	131	145
United Kingdom
Defined Contribution Plan Disclosure
Expenses associated with contributions made	$ 817	$ 510

Commitments and Contingent Liabilities - Schedule of Product Warranty Liability (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Warranty Liability
Beginning balance	$ 1,042
Additions to warranty liability	211
Warranty liability utilized	(383)
Ending balance	$ 870

Commitments and Contingent Liabilities - Narratives (Details) $ in Thousands		12 Months Ended
	Mar. 13, 2019 USD ($)	Dec. 31, 2022 USD ($) party	Dec. 31, 2018 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Jun. 05, 2017 company
Product Liability Contingency
Current portion of accrued settlement		$ 8,000		$ 8,000
Long-term portion of accrued settlement (Note 18)		8,000		$ 16,000
Number of companies receiving general notice letter \| company						140
Present value or proposed remedial work		1,100,000
Undiscovered remedial work		$ 1,700,000
Remedial work anticipated clean up period		13 years
Number of potentially responsible parties included in agreement \| party		100
UPRR
Product Liability Contingency
Purchase commitment	$ 48,000
Annual commitment amount	8,000				$ 6,000
UPRR
Product Liability Contingency
Litigation settlement amount		$ 50,000
Litigation settlement amount, current	2,000
Litigation settlement amount, non-current	48,000
Litigation settlement installment payment term		6 years
Amounts reclassified to accrued settlement	$ 6,600
Legal fees			$ 43,400

Commitments and Contingencies - Schedule of Future Payments of Legal Settlements (Details) - UPRR $ in Thousands	Dec. 31, 2022 USD ($)
Loss Contingencies [Line Items]
2023	$ 8,000
2024	8,000
Total	$ 16,000

Commitments and Contingent Liabilities - Environmental Loss Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accrual for Environmental Loss Contingencies
Environmental liability, beginning balance	$ 2,519
Additions to environmental obligations	40
Environmental obligations utilized	(87)
Environmental liability, ending balance	$ 2,472	$ 2,519
Environmental Loss Contingency Statement Of Financial Position Extensible Enumeration Not Disclosed Flag	financial condition	financial condition

Other Income (Details) - USD ($) $ in Thousands	12 Months Ended
Other Income (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Income and Expenses [Abstract]
(Gain) on Piling Products division asset sale	$ (489)	$ (2,741)
Insurance proceeds	(790)	0
Loss on the sale of Track Components	467	0
Costs recovered from environmental cleanup activities	325	0
Foreign currency losses	434	452
Other	(847)	(786)
Other income - net	$ (1,550)	$ (3,075)

Subsequent Events (Details) - Forecast $ in Thousands	Mar. 31, 2023 USD ($)
Subsequent Event [Line Items]
Authorized repurchase	$ 15,000
Authorized repurchase, annual limitation	$ 5,000

Schedule II Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Allowance for credit losses
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 547	$ 944
Additions Charged to Costs and Expenses	382	(87)
Deductions	116	310
Balance at End of Year	813	547
Valuation allowance for deferred tax assets
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	3,290	1,483
Additions Charged to Costs and Expenses	37,895	1,807
Deductions	584	0
Balance at End of Year	$ 40,601	$ 3,290