0000352825-23-000095 | 10-Q | XBRL Viewer

Long-Term Debt and Related Matters (Tables)

6 Months Ended

Jun. 30, 2023

Long-term debt consisted of the following:


	June 30, 2023		December 31, 2022
Revolving credit facility	$	89,280	$	91,567

Finance leases and financing agreements	225		312
Total	89,505		91,879
Less current maturities	(102)		(127)
Long-term portion	$	89,403	$	91,752

- 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.

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+ Details

Accounts Receivable

6 Months Ended

Jun. 30, 2023

Accounts Receivable Additional Disclosures [Abstract]

Accounts Receivable

Changes in reserves for uncollectible accounts, which are recorded as part of “Selling and administrative expenses” in the Condensed Consolidated Statements of Operations, were recorded as an expense of $256 and $150 for the three months ended June 30, 2023 and 2022, respectively, and an expense of $411 and $211 for the six months ended June 30, 2023 and 2022, respectively.

The Company establishes the allowance for credit losses based on historical collection patterns and other subjective conditions as necessary, including current and expected market conditions. Trade receivables are pooled based on age, which groups receivables of similar credit risk together. Management maintains stringent credit review practices and works to maintain positive customer relationships to further mitigate credit risk.

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


	Allowance for Credit Losses
Balance as of December 31, 2022	$	813
Current period provision	411
Write-off against allowance	(197)

Balance as of June 30, 2023	$	1,027

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 1,322	$ 390
Adjustments to reconcile net income to cash used in operating activities:
Deferred income taxes	(1,710)	(173)
Depreciation	4,989	3,814
Amortization	2,740	2,855
Equity in income of nonconsolidated investments	(16)	(87)
Gain on sales and disposals of property, plant, and equipment	(366)	(214)
Stock-based compensation	1,829	1,183
Loss (gain) on asset divestitures	3,074	(491)
Change in operating assets and liabilities:
Accounts receivable	6,584	(17,327)
Contract assets	(3,033)	2,190
Inventories	(13,068)	(10,695)
Other current assets	(1,251)	(3,573)
Other noncurrent assets	(865)	1,715
Accounts payable	465	9,347
Deferred revenue	627	5,301
Accrued payroll and employee benefits	(1,885)	(2,943)
Accrued settlement	(2,000)	(2,000)
Other current liabilities	(941)	(1,748)
Other long-term liabilities	172	(926)
Net cash used in operating activities	(3,333)	(13,382)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from the sale of property, plant, and equipment	539	237
Capital expenditures on property, plant, and equipment	(1,495)	(3,048)
Proceeds from business dispositions	7,706	1,195
Acquisitions, net of cash acquired	966	(5,712)
Net cash provided by (used in) investing activities	7,716	(7,328)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of debt	(95,251)	(78,093)
Proceeds from debt	92,331	96,970
Treasury stock acquisitions	(977)	(401)
Investment of noncontrolling interest	334	0
Net cash (used in) provided by financing activities	(3,563)	18,476
Effect of exchange rate changes on cash and cash equivalents	178	(477)
Net increase (decrease) in cash and cash equivalents	998	(2,711)
Cash and cash equivalents at beginning of period	2,882	10,372
Cash and cash equivalents at end of period	3,880	7,661
Supplemental disclosure of cash flow information:
Interest paid	2,889	662
Income taxes (received) paid	$ (331)	$ 389

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 563	$ 821	$ 22	$ 313
Income before income taxes	$ 4,056	$ 2,797	$ 1,344	$ 703
Effective income tax rate (percent)	13.90%	29.40%	1.60%	44.50%

- 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.

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+ Details

- Definition

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

+ References + Details

Revenue - Timing of Transfer (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue
Total net sales	$ 148,034	$ 131,515	$ 263,522	$ 230,309
Point in time
Disaggregation of Revenue
Total net sales	110,870	95,413	193,832	163,904
Over time
Disaggregation of Revenue
Total net sales	37,164	36,102	69,690	66,405
Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	91,616	81,797	156,000	145,507
Rail, Technologies, and Services \| Point in time
Disaggregation of Revenue
Total net sales	75,923	65,872	129,757	115,038
Rail, Technologies, and Services \| Over time
Disaggregation of Revenue
Total net sales	15,693	15,925	26,243	30,469
Precast Concrete Products
Disaggregation of Revenue
Total net sales	33,865	23,611	58,153	38,621
Precast Concrete Products \| Point in time
Disaggregation of Revenue
Total net sales	14,540	8,577	27,942	12,840
Precast Concrete Products \| Over time
Disaggregation of Revenue
Total net sales	19,325	15,034	30,211	25,781
Steel Products and Measurement
Disaggregation of Revenue
Total net sales	22,553	26,107	49,369	46,181
Steel Products and Measurement \| Point in time
Disaggregation of Revenue
Total net sales	20,407	20,964	36,133	36,026
Steel Products and Measurement \| Over time
Disaggregation of Revenue
Total net sales	$ 2,146	$ 5,143	$ 13,236	$ 10,155

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- 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.

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Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	$ 17	$ 17
Interest rate swaps	$ 2,008	$ 1,930
Derivative Asset Statement Of Financial Position Extensible Enumeration Not Disclosed Flag	Interest rate swaps	Interest rate swaps
Total assets	$ 2,025	$ 1,947
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	17	17
Interest rate swaps	0	0
Total assets	17	17
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	0	0
Interest rate swaps	2,008	1,930
Total assets	2,008	1,930
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	0	0
Interest rate swaps	0	0
Total assets	$ 0	$ 0

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

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-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-10

+ Details

Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator for basic and diluted earnings per common share:
Net income	$	3,493	$	1,976	$	1,322	$	390


Denominator:
Weighted average shares outstanding	10,807		10,715		10,800		10,700
Denominator for basic earnings per common share	10,807		10,715		10,800		10,700
Effect of dilutive securities:
Stock compensation plans	71		99		66		109
Dilutive potential common shares	71		99		66		109
Denominator for diluted earnings per common share - adjusted weighted average shares outstanding	10,878		10,814		10,866		10,809


Basic earnings per common share	$	0.32	$	0.18	$	0.12	$	0.04


Diluted earnings per common share	$	0.32	$	0.18	$	0.12	$	0.04

Business Segments - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information
Net Sales	$ 148,034	$ 131,515	$ 263,522	$ 230,309
Segment Operating Profit	6,349	2,480	6,852	193
Operating Segments
Segment Reporting Information
Net Sales	148,034	131,515	263,522	230,309
Segment Operating Profit	9,379	4,635	11,411	2,735
Rail, Technologies, and Services
Segment Reporting Information
Net Sales	91,616	81,797	156,000	145,507
Rail, Technologies, and Services \| Operating Segments
Segment Reporting Information
Net Sales	91,616	81,797	156,000	145,507
Segment Operating Profit	6,627	3,998	9,015	5,037
Precast Concrete Products
Segment Reporting Information
Net Sales	33,865	23,611	58,153	38,621
Precast Concrete Products \| Operating Segments
Segment Reporting Information
Net Sales	33,865	23,611	58,153	38,621
Segment Operating Profit	1,296	(125)	948	(916)
Steel Products and Measurement
Segment Reporting Information
Net Sales	22,553	26,107	49,369	46,181
Steel Products and Measurement \| Operating Segments
Segment Reporting Information
Net Sales	22,553	26,107	49,369	46,181
Segment Operating Profit	$ 1,456	$ 762	$ 1,448	$ (1,386)

- Definition

+ References

+ Details

Long-Term Debt and Related Matters

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Long-Term Debt and Related Matters

Long-term debt consisted of the following:


	June 30, 2023		December 31, 2022
Revolving credit facility	$	89,280	$	91,567

Finance leases and financing agreements	225		312
Total	89,505		91,879
Less current maturities	(102)		(127)
Long-term portion	$	89,403	$	91,752

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 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 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.

Borrowings under the Credit Agreement as amended, will bear interest at rates based upon either the base rate or SOFR rate plus applicable margins. 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 (as defined in the Credit Agreement), and (ii) 3.50 to 1.00 for all testing periods occurring during an Acquisition Period, 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.

On August 12, 2022, the Company entered into a second amendment to its Credit Agreement (“Second Amendment”) to obtain approval for the acquisition of VanHooseCo Precast, LLC (“VanHooseCo”) 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 to 3.50 through June 30, 2023 to accommodate the transaction.

As of June 30, 2023, the Company was in compliance with the covenants in the Credit Agreement, as amended, and had outstanding letters of credit of approximately $1,173.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Stock-Based Compensation - Restricted Stock and Performance Share Units (Details)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Weighted Average Grant Date Fair Value
Outstanding, Beginning balance (usd per share) \| $ / shares	$ 17.77
Granted (usd per share) \| $ / shares	11.78
Vested (usd per share) \| $ / shares	15.97
Adjustment for incentive awards expected to vest (usd per share) \| $ / shares	15.36
Outstanding, Ending balance (usd per share) \| $ / shares	$ 14.44
Restricted Stock
Restricted Stock, Deferred Stock Units and Performance Share Units
Outstanding, Beginning balance (in shares)	174,173
Granted (in shares)	181,914
Vested (in shares)	(88,367)
Adjustment for incentive awards expected to vest (in shares)	0
Outstanding, Ending balance (in shares)	267,720
Deferred Stock Units
Restricted Stock, Deferred Stock Units and Performance Share Units
Outstanding, Beginning balance (in shares)	46,268
Granted (in shares)	0
Vested (in shares)	(33,864)
Adjustment for incentive awards expected to vest (in shares)	0
Outstanding, Ending balance (in shares)	12,404
Performance-Based Stock and Share Units
Restricted Stock, Deferred Stock Units and Performance Share Units
Outstanding, Beginning balance (in shares)	108,478
Granted (in shares)	367,558
Vested (in shares)	0
Adjustment for incentive awards expected to vest (in shares)	20,104
Outstanding, Ending balance (in shares)	496,140

Commitments and Contingent Liabilities

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

Product Liability Claims

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

Union Pacific Railroad (“UPRR”) Concrete Tie Matter

On March 13, 2019, the Company and its subsidiary, CXT Incorporated (“CXT”), entered into a Settlement Agreement (the “Settlement Agreement”) with UPRR to resolve the then-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 remainder of the year ending December 31, 2023 and thereafter are as follows:


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




Total	$	14,000

Environmental and Legal Proceedings

The Company is subject to national, state, foreign, provincial, and/or local laws and regulations relating to the protection of the environment. The Company’s efforts to comply with environmental regulations may have an adverse effect on its future earnings.

On June 5, 2017, a General Notice Letter was received from the United States Environmental Protection Agency (“EPA”) indicating that the Company may be a potentially responsible party (“PRP”) regarding the Portland Harbor Superfund Site cleanup along with numerous other companies. More than 140 other companies received such a notice. The Company and a predecessor owned and operated a facility near the harbor site for a period prior to 1982. The net present value and undiscounted costs of the selected remedy throughout the harbor site are estimated by the EPA to be approximately $1.1 billion and $1.7 billion, respectively, and the remedial work is expected to take as long as 13 years to complete. 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 of factors like those described above, an unfavorable resolution could have a material adverse effect. As of June 30, 2023 and December 31, 2022, the Company maintained environmental reserves approximating $2,447 and $2,472, respectively.

The Company is also subject to other legal proceedings and claims that arise in the ordinary course of its business. Legal actions are subject to inherent uncertainties, and future events could change management’s assessment of the probability or estimated amount of potential losses from pending or threatened legal actions. Based on available information, it is the opinion of management that the ultimate resolution of pending or threatened legal actions, both individually and in the aggregate, will not result in losses having a material adverse effect on the Company’s financial position or liquidity as of June 30, 2023.

If management believes that, based on available information, it is at least reasonably possible that a material loss (or additional material loss in excess of any accrual) will be incurred in connection with any legal actions, the Company discloses an estimate of the possible loss or range of loss, either individually or in the aggregate, as appropriate, if such an estimate can be made, or discloses that an estimate cannot be made. Based on the Company’s assessment as of June 30, 2023, no such disclosures were considered necessary.

Business Segments

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Business Segments

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’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, 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. Other income and expenses, interest, income taxes, and certain other items are managed on a consolidated basis. The Company’s segment accounting policies are described in Note 2 Business Segments of the Notes to the Company’s Consolidated Financial Statements contained in its Annual Report on Form 10-K for the year ended December 31, 2022.

The operating results of the Company’s reportable segments were as follows for the periods presented:


	Three Months Ended June 30, 2023				Three Months Ended June 30, 2022
	Net Sales		Segment Operating Profit		Net Sales		Segment Operating Profit (Loss)
Rail, Technologies, and Services	$	91,616	$	6,627	$	81,797	$	3,998
Precast Concrete Products	33,865		1,296		23,611		(125)
Steel Products and Measurement	22,553		1,456		26,107		762
Total	$	148,034	$	9,379	$	131,515	$	4,635


	Six Months Ended June 30, 2023				Six Months Ended June 30, 2022
	Net Sales		Segment Operating Profit		Net Sales		Segment Operating Profit (Loss)
Rail, Technologies, and Services	$	156,000	$	9,015	$	145,507	$	5,037
Precast Concrete Products	58,153		948		38,621		(916)
Steel Products and Measurement	49,369		1,448		46,181		(1,386)
Total	$	263,522	$	11,411	$	230,309	$	2,735

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

A reconciliation of reportable segment net profit to the Company’s consolidated total for the periods presented:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Operating profit for reportable segments	$	9,379	$	4,635	$	11,411	$	2,735
Interest expense - net	(1,574)		(384)		(2,962)		(754)

Other (expense) income - net	(719)		701		(2,546)		1,264


Unallocated corporate expenses and other unallocated charges	(3,030)		(2,155)		(4,559)		(2,542)
Income before income taxes	$	4,056	$	2,797	$	1,344	$	703

The following table illustrates assets of the Company by reportable segment for the periods presented:


	June 30, 2023		December 31, 2022
Rail, Technologies, and Services	$	177,515	$	172,111
Precast Concrete Products	104,892		108,598
Steel Products and Measurement	38,492		54,516
Unallocated corporate assets	30,669		30,085
Total	$	351,568	$	365,310

On June 30, 2023, the Company sold substantially all the operating assets of the prestressed concrete railroad tie business operated by its wholly-owned subsidiary, CXT Incorporated (“Ties”), located in Spokane, WA, for $2,368 in proceeds, subject to final working capital adjustments, generating a $1,009 loss on the sale, which was recorded in “Other expense (income) - net”. The Ties business was reported in the Rail Products business unit within the Rail, Technologies, and Services segment.

On March 30, 2023, the Company sold substantially all the operating assets of its Chemtec Energy Services LLC business (“Chemtec”) for $5,344 in proceeds, subject to final working capital adjustments, generating a $2,065 loss on the sale, which was recorded in “Other expense (income) - net.” The Chemtec business was reported in the Coatings and Measurement business unit within the Steel Products and Measurement segment.

- 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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
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-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Accounts Receivable - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Reserve for uncollectible accounts, expense			$ 411
Selling, General and Administrative Expenses
Financing Receivable, Allowance for Credit Loss [Line Items]
Reserve for uncollectible accounts, expense	$ 256	$ 150	$ 411	$ 211

Commitments and Contingent Liabilities - Narrative (Details) $ in Thousands		6 Months Ended
	Mar. 13, 2019 USD ($)	Jun. 30, 2023 USD ($) potentially_responsible_party	Dec. 31, 2022 USD ($)	Sep. 30, 2021 USD ($)	Mar. 26, 2020 party	Jun. 05, 2017 company
Product Liability Contingency
Litigation settlement amount		$ 14,000
Number of companies that received a general notice letter (company) \| company						140
Present value of remedial work		1,100,000
Undiscovered remedial work		$ 1,700,000
Anticipated clean period		13 years
Number of potentially responsible parties included in agreement \| potentially_responsible_party		100
Number of parties required to perform remedial design work \| party					2
Environmental Loss Contingency Statement Of Financial Position Extensible Enumeration Not Disclosed Flag		financial condition
Accrual for environmental loss		$ 2,447	$ 2,472
UPRR
Product Liability Contingency
Litigation settlement amount	$ 50,000
Litigation settlement amount, current	2,000
Litigation settlement amount, non-current	$ 48,000
Payment period	6 years
Purchase commitment	$ 48,000
UPRR
Product Liability Contingency
Annual commitment amount	$ 8,000			$ 6,000

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill
Goodwill, beginning balance	$ 30,733
Foreign currency translation impact	429
Goodwill, ending balance	31,404
VanHooseCo acquisition
Goodwill
VanHooseCo acquisition	242
Rail, Technologies, and Services
Goodwill
Goodwill, beginning balance	19,948
Foreign currency translation impact	429
Goodwill, ending balance	20,377
Rail, Technologies, and Services \| VanHooseCo acquisition
Goodwill
VanHooseCo acquisition	0
Precast Concrete Products
Goodwill
Goodwill, beginning balance	10,785
Foreign currency translation impact	0
Goodwill, ending balance	11,027
Precast Concrete Products \| VanHooseCo acquisition
Goodwill
VanHooseCo acquisition	242
Steel Products and Measurement
Goodwill
Goodwill, beginning balance	0
Foreign currency translation impact	0
Goodwill, ending balance	0
Steel Products and Measurement \| VanHooseCo acquisition
Goodwill
VanHooseCo acquisition	$ 0

- 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

Financial Statements	6 Months Ended
Financial Statements	Jun. 30, 2023
Accounting Policies [Abstract]
Financial Statements	Financial StatementsBasis of PresentationThe accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. In the opinion of management, all estimates and adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. This Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and footnotes thereto included in L.B. Foster Company’s Annual Report on Form 10-K for the year ended December 31, 2022. In this Quarterly Report on Form 10-Q, references to “we,” “us,” “our,” and the “Company” refer collectively to L.B. Foster Company and its consolidated subsidiaries.

Long-Term Debt and Related Matters - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Revolving credit facility	$ 89,280	$ 91,567
Finance leases and financing agreements	225	312
Total	89,505	91,879
Less current maturities	(102)	(127)
Long-term portion	$ 89,403	$ 91,752

- 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

Accounts Receivable (Tables)

6 Months Ended

Jun. 30, 2023

Accounts Receivable Additional Disclosures [Abstract]

Schedule of Accounts Receivable, Allowance for Credit Loss

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


	Allowance for Credit Losses
Balance as of December 31, 2022	$	813
Current period provision	411
Write-off against allowance	(197)

Balance as of June 30, 2023	$	1,027

Retirement Plans - Narrative (Details) $ in Thousands	6 Months Ended
Retirement Plans - Narrative (Details) $ in Thousands	Jun. 30, 2023 USD ($) plan
Pension Plan
Defined Benefit Plan Disclosure
Defined contribution plan number	5
United States
Defined Benefit Plan Disclosure
Number of retirement plans	3
Number of defined benefit plans	1
Defined contribution plan number	2
Defined benefit plan, contributions by employer \| $	$ 176
Defined benefit plan, expected future employer contributions, current fiscal year \| $	$ 400
Canada
Defined Benefit Plan Disclosure
Defined contribution plan number	1
United Kingdom
Defined Benefit Plan Disclosure
Defined contribution plan number	2
Defined benefit plan, contributions by employer \| $	$ 170
Defined benefit plan, expected future employer contributions, current fiscal year \| $	$ 340

Condensed 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, 2021	$ 183,610	$ 111	$ 43,272	$ 168,733	$ (10,179)	$ (18,845)	$ 518
Increase (Decrease) in Stockholders' Equity
Net income (loss)	390			444			(54)
Other comprehensive income, net of tax:
Pension liability adjustment	99					99
Foreign currency translation adjustment	(4,568)					(4,592)	24
Unrealized derivative gain on cash flow hedges	698					698
Cash flow hedges reclassified to earnings	93					93
Issuance of common shares, net of share withheld for taxes	(466)		(2,254)		1,788
Stock-based compensation	1,183		1,183
Ending balance at Jun. 30, 2022	181,039	111	42,201	169,177	(8,391)	(22,547)	488
Beginning balance at Mar. 31, 2022	181,697	111	42,153	167,167	(9,200)	(19,117)	583
Increase (Decrease) in Stockholders' Equity
Net income (loss)	1,976			2,010			(34)
Other comprehensive income, net of tax:
Pension liability adjustment	50					50
Foreign currency translation adjustment	(3,688)					(3,627)	(61)
Unrealized derivative gain on cash flow hedges	147					147
Cash flow hedges reclassified to earnings	0
Issuance of common shares, net of share withheld for taxes	(68)		(877)		809
Stock-based compensation	925		925
Ending balance at Jun. 30, 2022	181,039	111	42,201	169,177	(8,391)	(22,547)	488
Beginning balance at Dec. 31, 2022	137,598	111	41,303	123,169	(6,240)	(21,165)	420
Increase (Decrease) in Stockholders' Equity
Net income (loss)	1,322			1,379			(57)
Other comprehensive income, net of tax:
Pension liability adjustment	81					81
Foreign currency translation adjustment	2,503					2,470	33
Unrealized derivative gain on cash flow hedges	78					78
Cash flow hedges reclassified to earnings	0
Purchase of common shares for treasury	(662)				(662)
Issuance of common shares, net of share withheld for taxes	(157)		(2,213)		2,056
Stock-based compensation	1,829		1,829
Ending balance at Jun. 30, 2023	142,592	111	40,919	124,548	(4,846)	(18,536)	396
Beginning balance at Mar. 31, 2023	137,014	111	40,951	121,017	(5,174)	(20,296)	405
Increase (Decrease) in Stockholders' Equity
Net income (loss)	3,493			3,531			(38)
Other comprehensive income, net of tax:
Pension liability adjustment	41					41
Foreign currency translation adjustment	1,252					1,223	29
Unrealized derivative gain on cash flow hedges	496					496
Cash flow hedges reclassified to earnings	0
Purchase of common shares for treasury	(662)				(662)
Issuance of common shares, net of share withheld for taxes	13		(977)		990
Stock-based compensation	945		945
Ending balance at Jun. 30, 2023	$ 142,592	$ 111	$ 40,919	$ 124,548	$ (4,846)	$ (18,536)	$ 396

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Unrealized gain on cash flow hedge, tax	$ 0	$ 50	$ 0	$ 238
Cash flow hedges reclassified to earnings, tax	0	0	0	66
Reclassification of pension liability adjustments to earnings, tax	$ 2	$ 16	$ 4	$ 32

Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished goods	$ 48,237	$ 41,431
Work-in-process	5,304	9,693
Raw materials	25,910	24,597
Inventories - net	$ 79,451	$ 75,721

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesFor the three months ended June 30, 2023 and 2022, the Company recorded an income tax expense of $563 and $821, respectively, on pre-tax income of $4,056 and $2,797, respectively, for an effective income tax rate of 13.9% and 29.4%, respectively. For the six months ended June 30, 2023 and 2022, the Company recorded an income tax expense of $22 and $313, respectively, on pre-tax income of $1,344 and $703, respectively, for an effective income tax rate of 1.6% and 44.5%, respectively. The Company's effective income tax rate for the three and six months ended June 30, 2023 differed from the federal statutory rate of 21% primarily due to the realization of a portion of its U.S. deferred tax assets previously offset by a valuation allowance. The Company continues to maintain a full valuation allowance against its U.S. deferred tax assets, which is likely to result in significant variability of the effective tax rate in the current year. Changes in pre-tax income projections, combined with the seasonal nature of our businesses, could also impact the effective income tax rate each quarter.

- 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
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

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+ Details

Earning Per Common Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator for basic and diluted earnings per common share:
Net income	$ 3,493	$ 1,976	$ 1,322	$ 390
Denominator:
Weighted average shares outstanding (in shares)	10,807	10,715	10,800	10,700
Denominator for basic earnings per common share (in shares)	10,807	10,715	10,800	10,700
Effect of dilutive securities:
Stock compensation plans (in shares)	71	99	66	109
Dilutive potential common shares (in shares)	71	99	66	109
Denominator for diluted earnings per common share - adjusted weighted average shares outstanding (in shares)	10,878	10,814	10,866	10,809
Basic earnings per common share (usd per share)	$ 0.32	$ 0.18	$ 0.12	$ 0.04
Diluted earnings per common share (usd per share)	$ 0.32	$ 0.18	$ 0.12	$ 0.04

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Aug. 31, 2022	Aug. 12, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative Liability, Statement of Financial Position [Extensible Enumeration]					Other accrued liabilities			Other accrued liabilities
Interest expense	$ 1,574	$ 384	$ 2,962	$ 754
Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative, notional amount							$ 20,000
Interest income	$ 295	$ 19	$ 540
Interest expense				$ 78
Swap 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative, notional amount						$ 20,000

- Definition

Amount of the cost of borrowed funds accounted for as interest expense.

+ References + Details

Business Segments - Narrative (Details) - USD ($) $ in Thousands			6 Months Ended
	Jun. 30, 2023	Mar. 30, 2023	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information
Proceeds from business dispositions			$ 7,706	$ 1,195
Loss (gain) on asset divestitures			$ 3,074	$ (491)
Rail Products
Segment Reporting Information
Proceeds from business dispositions	$ 2,368
Loss (gain) on asset divestitures	$ 1,009	$ 2,065
Coatings and Measurement
Segment Reporting Information
Proceeds from business dispositions		$ 5,344

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 3,531	$ 2,010	$ 1,379	$ 444

- Definition

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

+ References

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+ Details

Revenue

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue

The following table summarizes the Company’s net sales by major product and service category for the periods presented:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Rail Products and Global Friction Management	$	81,926	$	70,416	$	137,974	$	122,067
Technology Services and Solutions	9,690		11,381		18,026		23,440
Rail, Technologies, and Services	91,616		81,797		156,000		145,507
Precast Concrete Buildings	19,325		15,811		30,211		25,781
Precast Infrastructure Products	14,540		7,800		27,942		12,840
Precast Concrete Products	33,865		23,611		58,153		38,621
Fabricated Steel Products	14,854		17,967		25,371		30,571
Coatings and Measurement	7,699		8,140		23,998		15,610
Steel Products and Measurement	22,553		26,107		49,369		46,181
Total net sales	$	148,034	$	131,515	$	263,522	$	230,309

The majority of the Company’s revenue is from products transferred and services rendered to customers at a point in time. The Company recognizes revenue at the point in time at which the customer obtains control of the product or service, which is generally when the product title passes to the customer upon shipment or the service has been rendered to the customer. In limited cases, title does not transfer and revenue is not recognized until the customer has received the products at a designated physical location.

Net sales by the timing of the transfer of goods and services was as follows for the periods presented:


	Three Months Ended June 30, 2023
	Rail, Technologies, and Services		Precast Concrete Products		Steel Products and Measurement		Total
Point in time	$	75,923	$	14,540	$	20,407	$	110,870
Over time	15,693		19,325		2,146		37,164
Total net sales	$	91,616	$	33,865	$	22,553	$	148,034

	Three Months Ended June 30, 2022
	Rail, Technologies, and Services		Precast Concrete Products		Steel Products and Measurement		Total
Point in time	$	65,872	$	8,577	$	20,964	$	95,413
Over time	15,925		15,034		5,143		36,102
Total net sales	$	81,797	$	23,611	$	26,107	$	131,515


	Six Months Ended June 30, 2023
	Rail, Technologies, and Services		Precast Concrete Products		Steel Products and Measurement		Total
Point in time	$	129,757	$	27,942	$	36,133	$	193,832
Over time	26,243		30,211		13,236		69,690
Total net sales	$	156,000	$	58,153	$	49,369	$	263,522

	Six Months Ended June 30, 2022
	Rail, Technologies, and Services		Precast Concrete Products		Steel Products and Measurement		Total
Point in time	$	115,038	$	12,840	$	36,026	$	163,904
Over time	30,469		25,781		10,155		66,405
Total net sales	$	145,507	$	38,621	$	46,181	$	230,309

The Company’s performance obligations under long-term agreements with its customers are generally satisfied over time. Revenue under long-term agreements is at times recognized 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 its performance to date under the terms of the contract. The Company’s revenue recognized over time under long-term agreements is also at times recognized using an output method, specifically units delivered, based upon certain customer acceptance and delivery requirements. The use of an input or an output measure to recognize revenue is determined based on what is most appropriate given the nature of the work performed and terms of the associated agreement.

Revenue recognized over time was as follows for the periods presented:


	Three Months Ended June 30,				Percentage of Total Net Sales Three Months Ended June 30,
	2023		2022		2023		2022
Over time input method	$	15,724	$	20,089	10.6	%	15.3	%
Over time output method	21,440		16,013		14.5		12.2
Total over time sales	$	37,164	$	36,102	25.1	%	27.5	%


	Six Months Ended June 30,				Percentage of Total Net Sales Six Months Ended June 30,
	2023		2022		2023		2022
Over time input method	$	31,935	$	39,411	12.1	%	17.1	%
Over time output method	37,755		26,994		14.3		11.7
Total over time sales	$	69,690	$	66,405	26.4	%	28.8	%

The timing of revenue recognition, billings, and cash collections results in billed receivables, costs in excess of billings (included in “Contract assets”), and billings in excess of costs (contract liabilities), included in “Deferred revenue” within the Condensed Consolidated Balance Sheets.

The following table sets forth the Company’s contract assets:


	Contract Assets
Balance as of December 31, 2022	$	33,613
Net additions to contract assets	4,797
Transfers from contract asset balance to accounts receivable	(4,399)
Balance as of June 30, 2023	$	34,011

The following table sets forth the Company’s contract liabilities:


	Contract Liabilities
Balance as of December 31, 2022	$	6,781
Revenue recognized from contract liabilities	(4,049)
Increase in billings in excess of cost, excluding revenue recognized	3,525
Other adjustments, including business divestiture	(1,938)
Balance as of June 30, 2023	$	4,319

The Company records provisions related to the allowance for credit losses associated with contract assets. Provisions are recorded based upon a specific review of individual contracts as necessary, and a standard provision over any remaining contract assets pooled together based on similar risk of credit loss. The development of these provisions is based on historical collection trends, accuracy of estimates within contract margin reporting, as well as the expectation that collection patterns and margin reporting will continue to adhere to patterns observed in recent years. These expectations are formed based on trends observed, as well as current and expected future conditions.

As of June 30, 2023, the Company had approximately $290,076 of obligations under new contracts and remaining performance obligations, which is also referred to as backlog. Approximately 12.0% of the June 30, 2023 backlog was related to projects that are anticipated to extend beyond June 30, 2024.

- 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
-Topic 606
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-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

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 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Total net sales	$ 148,034	$ 131,515	$ 263,522	$ 230,309
Total cost of sales	115,782	108,222	207,979	190,569
Gross profit	32,252	23,293	55,543	39,740
Selling and administrative expenses	24,528	19,394	45,951	36,692
Amortization expense	1,375	1,419	2,740	2,855
Operating profit	6,349	2,480	6,852	193
Interest expense - net	1,574	384	2,962	754
Other expense (income) - net	719	(701)	2,546	(1,264)
Income before income taxes	4,056	2,797	1,344	703
Income tax expense	563	821	22	313
Net income	3,493	1,976	1,322	390
Net loss attributable to noncontrolling interest	(38)	(34)	(57)	(54)
Net income attributable to L.B. Foster Company	$ 3,531	$ 2,010	$ 1,379	$ 444
Basic earnings per common share (usd per share)	$ 0.32	$ 0.18	$ 0.12	$ 0.04
Diluted earnings per common share (usd per share)	$ 0.32	$ 0.18	$ 0.12	$ 0.04
Sales of goods
Total net sales	$ 132,167	$ 116,584	$ 230,705	$ 201,005
Total cost of sales	101,069	95,331	179,134	165,176
Sales of services
Total net sales	15,867	14,931	32,817	29,304
Total cost of sales	$ 14,713	$ 12,891	$ 28,845	$ 25,393

Revenue - Sales by Major Product Line (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue
Total net sales	$ 148,034	$ 131,515	$ 263,522	$ 230,309
Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	91,616	81,797	156,000	145,507
Precast Concrete Products
Disaggregation of Revenue
Total net sales	33,865	23,611	58,153	38,621
Steel Products and Measurement
Disaggregation of Revenue
Total net sales	22,553	26,107	49,369	46,181
Rail Products and Global Friction Management \| Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	81,926	70,416	137,974	122,067
Technology Services and Solutions \| Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	9,690	11,381	18,026	23,440
Precast Concrete Buildings \| Precast Concrete Products
Disaggregation of Revenue
Total net sales	19,325	15,811	30,211	25,781
Precast Infrastructure Products \| Precast Concrete Products
Disaggregation of Revenue
Total net sales	14,540	7,800	27,942	12,840
Fabricated Steel Products \| Steel Products and Measurement
Disaggregation of Revenue
Total net sales	14,854	17,967	25,371	30,571
Coatings and Measurement \| Steel Products and Measurement
Disaggregation of Revenue
Total net sales	$ 7,699	$ 8,140	$ 23,998	$ 15,610

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Goodwill and Other Intangible Assets - Schedule of Intangible Asset (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets
Gross Carrying Value	$ 68,610	$ 68,002
Accumulated Amortization	(47,354)	(44,171)
Net Carrying Amount	21,256	23,831
Non-compete agreements
Finite-Lived Intangible Assets
Gross Carrying Value	28	27
Accumulated Amortization	(28)	(16)
Net Carrying Amount		11
Patents
Finite-Lived Intangible Assets
Gross Carrying Value	338	330
Accumulated Amortization	(197)	(187)
Net Carrying Amount	141	143
Customer relationships
Finite-Lived Intangible Assets
Gross Carrying Value	27,656	27,184
Accumulated Amortization	(15,828)	(14,129)
Net Carrying Amount	11,828	13,055
Trademarks and trade names
Finite-Lived Intangible Assets
Gross Carrying Value	7,983	7,933
Accumulated Amortization	(4,299)	(3,989)
Net Carrying Amount	3,684	3,944
Technology
Finite-Lived Intangible Assets
Gross Carrying Value	32,306	32,201
Accumulated Amortization	(26,978)	(25,827)
Net Carrying Amount	5,328	6,374
Favorable lease
Finite-Lived Intangible Assets
Gross Carrying Value	327	327
Accumulated Amortization	(52)	(23)
Net Carrying Amount	$ 275	$ 304
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	16 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	14 years
Weighted Average \| Favorable lease
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	6 years	6 years

Business Segments - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating profit for reportable segments	$ 6,349	$ 2,480	$ 6,852	$ 193
Other (expense) income - net	(719)	701	(2,546)	1,264
Income before income taxes	4,056	2,797	1,344	703
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating profit for reportable segments	9,379	4,635	11,411	2,735
Interest expense - net	(1,574)	(384)	(2,962)	(754)
Other (expense) income - net	(719)	701	(2,546)	1,264
Unallocated corporate expenses and other unallocated charges	(3,030)	(2,155)	(4,559)	(2,542)
Income before income taxes	$ 4,056	$ 2,797	$ 1,344	$ 703

- Definition

+ References

+ Details

Business Segments - Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Segment Reporting Information
Assets	$ 351,568	$ 365,310
Operating Segments \| Rail, Technologies, and Services
Segment Reporting Information
Assets	177,515	172,111
Operating Segments \| Precast Concrete Products
Segment Reporting Information
Assets	104,892	108,598
Operating Segments \| Steel Products and Measurement
Segment Reporting Information
Assets	38,492	54,516
Unallocated corporate assets
Segment Reporting Information
Assets	$ 30,669	$ 30,085

- Definition

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

+ References

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-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481404/852-10-50-7

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 26: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1

+ Details

Inventory (Tables)

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Schedule of Inventory

The Company’s components of inventory as of June 30, 2023 and December 31, 2022 are summarized in the following table:


	June 30, 2023		December 31, 2022
Finished goods	$	48,237	$	41,431
Work-in-process	5,304		9,693
Raw materials	25,910		24,597
Inventories - net	$	79,451	$	75,721

Retirement Plans - Schedule of Costs of Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Defined Contribution Plan Disclosure
Expenses associated with contributions made	$ 1,140	$ 814	$ 2,077	$ 1,179
United States
Defined Contribution Plan Disclosure
Expenses associated with contributions made	793	390	1,407	695
Canada
Defined Contribution Plan Disclosure
Expenses associated with contributions made	32	45	94	105
United Kingdom
Defined Contribution Plan Disclosure
Expenses associated with contributions made	$ 315	$ 379	$ 576	$ 379

Revenue (Tables)

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Revenues by Major Product Line

The following table summarizes the Company’s net sales by major product and service category for the periods presented:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Rail Products and Global Friction Management	$	81,926	$	70,416	$	137,974	$	122,067
Technology Services and Solutions	9,690		11,381		18,026		23,440
Rail, Technologies, and Services	91,616		81,797		156,000		145,507
Precast Concrete Buildings	19,325		15,811		30,211		25,781
Precast Infrastructure Products	14,540		7,800		27,942		12,840
Precast Concrete Products	33,865		23,611		58,153		38,621
Fabricated Steel Products	14,854		17,967		25,371		30,571
Coatings and Measurement	7,699		8,140		23,998		15,610
Steel Products and Measurement	22,553		26,107		49,369		46,181
Total net sales	$	148,034	$	131,515	$	263,522	$	230,309

Schedule of Disaggregation of Revenue

Net sales by the timing of the transfer of goods and services was as follows for the periods presented:


	Three Months Ended June 30, 2023
	Rail, Technologies, and Services		Precast Concrete Products		Steel Products and Measurement		Total
Point in time	$	75,923	$	14,540	$	20,407	$	110,870
Over time	15,693		19,325		2,146		37,164
Total net sales	$	91,616	$	33,865	$	22,553	$	148,034

	Three Months Ended June 30, 2022
	Rail, Technologies, and Services		Precast Concrete Products		Steel Products and Measurement		Total
Point in time	$	65,872	$	8,577	$	20,964	$	95,413
Over time	15,925		15,034		5,143		36,102
Total net sales	$	81,797	$	23,611	$	26,107	$	131,515


	Six Months Ended June 30, 2023
	Rail, Technologies, and Services		Precast Concrete Products		Steel Products and Measurement		Total
Point in time	$	129,757	$	27,942	$	36,133	$	193,832
Over time	26,243		30,211		13,236		69,690
Total net sales	$	156,000	$	58,153	$	49,369	$	263,522

	Six Months Ended June 30, 2022
	Rail, Technologies, and Services		Precast Concrete Products		Steel Products and Measurement		Total
Point in time	$	115,038	$	12,840	$	36,026	$	163,904
Over time	30,469		25,781		10,155		66,405
Total net sales	$	145,507	$	38,621	$	46,181	$	230,309

Revenue recognized over time was as follows for the periods presented:


	Three Months Ended June 30,				Percentage of Total Net Sales Three Months Ended June 30,
	2023		2022		2023		2022
Over time input method	$	15,724	$	20,089	10.6	%	15.3	%
Over time output method	21,440		16,013		14.5		12.2
Total over time sales	$	37,164	$	36,102	25.1	%	27.5	%


	Six Months Ended June 30,				Percentage of Total Net Sales Six Months Ended June 30,
	2023		2022		2023		2022
Over time input method	$	31,935	$	39,411	12.1	%	17.1	%
Over time output method	37,755		26,994		14.3		11.7
Total over time sales	$	69,690	$	66,405	26.4	%	28.8	%

Schedule of Contract with Customer, Contract Asset, Contract Liability

The following table sets forth the Company’s contract assets:


	Contract Assets
Balance as of December 31, 2022	$	33,613
Net additions to contract assets	4,797
Transfers from contract asset balance to accounts receivable	(4,399)
Balance as of June 30, 2023	$	34,011

The following table sets forth the Company’s contract liabilities:


	Contract Liabilities
Balance as of December 31, 2022	$	6,781
Revenue recognized from contract liabilities	(4,049)
Increase in billings in excess of cost, excluding revenue recognized	3,525
Other adjustments, including business divestiture	(1,938)
Balance as of June 30, 2023	$	4,319

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

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


	Fair Value Measurements at Reporting Date								Fair Value Measurements at Reporting Date
	June 30, 2023		Level 1		Level 2		Level 3		December 31, 2022		Level 1		Level 2		Level 3
Term deposits	$	17	$	17	$	—	$	—	$	17	$	17	$	—	$	—
Interest rate swaps	2,008		—		2,008		—		1,930		—		1,930		—
Total assets	$	2,025	$	17	$	2,008	$	—	$	1,947	$	17	$	1,930	$	—

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 3,880	$ 2,882
Accounts receivable - net (Note 5)	74,249	82,455
Contract assets - net (Note 3)	34,011	33,613
Inventories - net (Note 6)	79,451	75,721
Other current assets	12,182	11,061
Total current assets	203,773	205,732
Property, plant, and equipment - net	76,948	85,344
Operating lease right-of-use assets - net	15,770	17,291
Other assets:
Goodwill (Note 4)	31,404	30,733
Other intangibles - net (Note 4)	21,256	23,831
Deferred tax assets (Note 9)	0	24
Other assets	2,417	2,355
TOTAL ASSETS	351,568	365,310
Current liabilities:
Accounts payable	43,933	48,782
Deferred revenue	15,969	19,452
Accrued payroll and employee benefits	8,709	10,558
Current portion of accrued settlement (Note 13)	8,000	8,000
Current maturities of long-term debt (Note 7)	102	127
Other accrued liabilities	14,928	16,192
Total current liabilities	91,641	103,111
Long-term debt (Note 7)	89,403	91,752
Deferred tax liabilities (Note 9)	1,718	3,109
Long-term portion of accrued settlement (Note 13)	6,000	8,000
Long-term operating lease liabilities	12,669	14,163
Other long-term liabilities	7,545	7,577
Stockholders’ equity:
Common stock, par value $0.01, authorized 20,000,000 shares; shares issued at June 30, 2023 and December 31, 2022, 11,115,779; shares outstanding at June 30, 2023 and December 31, 2022, 10,816,902 and 10,776,827, respectively	111	111
Paid-in capital	40,919	41,303
Retained earnings	124,548	123,169
Treasury stock - at cost, 298,877 and 338,952 common stock shares at June 30, 2023 and December 31, 2022, respectively	(4,846)	(6,240)
Accumulated other comprehensive loss	(18,536)	(21,165)
Total L.B. Foster Company stockholders’ equity	142,196	137,178
Noncontrolling interest	396	420
Total stockholders’ equity	142,592	137,598
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 351,568	$ 365,310

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

The following table presents the changes in goodwill balance by reportable segment for the period presented:


	Rail, Technologies, and Services		Precast Concrete Products		Steel Products and Measurement		Total
Balance as of December 31, 2022	$	19,948	$	10,785	$	—	$	30,733

VanHooseCo acquisition	—		242		—		242
Foreign currency translation impact	429		—		—		429


Balance as of June 30, 2023	$	20,377	$	11,027	$	—	$	31,404

The Company performs goodwill impairment tests annually during the fourth quarter, and also performs interim goodwill impairment tests if it is determined that it is more likely than not that the fair value of a reporting unit is less than the carrying amount. Qualitative factors are assessed to determine whether it is more likely than not that the fair value of a reporting unit is less than the carrying amount, which included the impacts of current economic conditions, including but not limited to labor markets, supply chains, and other inflationary costs. However, these factors can be unpredictable and are subject to change. No interim goodwill impairment test was required as a result of the evaluation of qualitative factors as of June 30, 2023. However, future impairment charges could result if future projections diverge unfavorably from current expectations in the Rail Technologies and Precast Concrete Products reporting units.

As of June 30, 2023 and December 31, 2022, the components of the Company’s intangible assets were as follows:


	June 30, 2023
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount

Patents	10	$	338	$	(197)	$	141
Customer relationships	16	27,656		(15,828)		11,828
Trademarks and trade names	16	7,983		(4,299)		3,684
Technology	14	32,306		(26,978)		5,328
Favorable lease	6	327		(52)		275
		$	68,610	$	(47,354)	$	21,256

During the six months ended June 30, 2023, certain fully amortized intangible assets of $28 related to non-compete agreements were eliminated from gross intangible assets and accumulated amortization.


	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

On June 21, 2022, the Company acquired the stock of Skratch Enterprises Ltd. (“Skratch”). On August 12, 2022, the Company acquired the operating assets of VanHooseCo Precast LLC (“VanHooseCo”). As of June 30, 2023, the purchase accounting for these transactions is final.

Accounts Receivable - Allowance for Credit Losses (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Allowance for Doubtful Accounts
Allowance for doubtful accounts, beginning balance	$ 813
Current period provision	411
Write-off against allowance	(197)
Allowance for doubtful accounts, ending balance	$ 1,027

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation			$ 1,829	$ 1,183
Expected cost on shares expected to vest	$ 7,026		$ 7,026
Recognition period for compensation expense not yet recognized			2 years 8 months 12 days
Director
Share-based Compensation Arrangement by Share-based Payment Award
Deferred receipt period			6 months
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation				1,183
Restricted Stock \| Vesting period one
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period			3 years
Restricted Stock \| Vesting period two \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period			1 year
Performance-Based Stock and Share Units
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation	$ 945	$ 925	$ 1,829	$ 1,183
Vesting period			3 years

Fair Value Measurements

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

The Company determines the 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 fair value hierarchy includes three levels of inputs that may be used to measure fair value as described below:

Level 1: Observable inputs that reflect unadjusted quoted market prices in active markets for identical assets or liabilities.

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

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

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

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

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 are based on market-observable forward interest rates and represents the estimated amount that the Company would pay to terminate the agreements. As such, the swap agreements are classified as Level 2 within the fair value hierarchy. As of June 30, 2023 and December 31, 2022, 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 Condensed Consolidated Balance Sheets.


	Fair Value Measurements at Reporting Date								Fair Value Measurements at Reporting Date
	June 30, 2023		Level 1		Level 2		Level 3		December 31, 2022		Level 1		Level 2		Level 3
Term deposits	$	17	$	17	$	—	$	—	$	17	$	17	$	—	$	—
Interest rate swaps	2,008		—		2,008		—		1,930		—		1,930		—
Total assets	$	2,025	$	17	$	2,008	$	—	$	1,947	$	17	$	1,930	$	—

The $20,000 interest rate swap agreements 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.

For the three months ended June 30, 2023 and 2022, the Company recognized interest income of $295 and $19, respectively, from interest rate swaps. For the six months ended June 30, 2023 and 2022, the Company recognized interest income and interest expense of $540 and $78, respectively, from interest rate swaps.

- 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 - Schedule of Net Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
United States
Defined Benefit Plan Disclosure
Interest cost	$ 71	$ 49	$ 143	$ 97
Expected return on plan assets	(64)	(66)	(128)	(132)
Recognized net actuarial loss	16	18	31	35
Net periodic pension (income) cost	23	1	46	0
United Kingdom
Defined Benefit Plan Disclosure
Interest cost	56	43	112	86
Expected return on plan assets	(84)	(76)	(168)	(152)
Amortization of prior service costs and transition amount	6	6	12	12
Recognized net actuarial loss	3	40	6	80
Net periodic pension (income) cost	$ (19)	$ 13	$ (38)	$ 26

Revenue - Remaining Performance Obligation (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue remaining performance obligation	$ 290,076
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Revenue remaining performance obligation (percentage)	12.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table presents the changes in goodwill balance by reportable segment for the period presented:


	Rail, Technologies, and Services		Precast Concrete Products		Steel Products and Measurement		Total
Balance as of December 31, 2022	$	19,948	$	10,785	$	—	$	30,733

VanHooseCo acquisition	—		242		—		242
Foreign currency translation impact	429		—		—		429


Balance as of June 30, 2023	$	20,377	$	11,027	$	—	$	31,404

Schedule of Finite-Lived Intangible Assets

As of June 30, 2023 and December 31, 2022, the components of the Company’s intangible assets were as follows:


	June 30, 2023
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount

Patents	10	$	338	$	(197)	$	141
Customer relationships	16	27,656		(15,828)		11,828
Trademarks and trade names	16	7,983		(4,299)		3,684
Technology	14	32,306		(26,978)		5,328
Favorable lease	6	327		(52)		275
		$	68,610	$	(47,354)	$	21,256


	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

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Revenue - Over Time Sales (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue
Over time sales, amount	$ 37,164	$ 36,102	$ 69,690	$ 66,405
Over time sales, percentage	25.10%	27.50%	26.40%	28.80%
Over time input method
Disaggregation of Revenue
Over time sales, amount	$ 15,724	$ 20,089	$ 31,935	$ 39,411
Over time sales, percentage	10.60%	15.30%	12.10%	17.10%
Over time output method
Disaggregation of Revenue
Over time sales, amount	$ 21,440	$ 16,013	$ 37,755	$ 26,994
Over time sales, percentage	14.50%	12.20%	14.30%	11.70%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Inventory

6 Months Ended

Jun. 30, 2023

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 June 30, 2023 and December 31, 2022 are summarized in the following table:


	June 30, 2023		December 31, 2022
Finished goods	$	48,237	$	41,431
Work-in-process	5,304		9,693
Raw materials	25,910		24,597
Inventories - net	$	79,451	$	75,721

Revenue - Contract with Customer (Details) $ in Thousands	6 Months Ended
Revenue - Contract with Customer (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Contract With Customer Asset After Allowance For Credit Loss Current [Roll Forward]
Balance as of December 31, 2022	$ 33,613
Net additions to contract assets	4,797
Transfers from contract asset balance to accounts receivable	(4,399)
Balance as of June 30, 2023	34,011
Contract With Customer Liability [Roll Forward]
Balance as of December 31, 2022	6,781
Revenue recognized from contract liabilities	(4,049)
Increase in billings in excess of cost, excluding revenue recognized	3,525
Other adjustments, including business divestiture	(1,938)
Balance as of June 30, 2023	$ 4,319

Commitments and Contingent Liabilities (Tables)

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Payments of Legal Settlements

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


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




Total	$	14,000

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Purchase of common shares for treasury (in shares)	51,241		51,241
Common shares issues net of shares withheld (in shares)	58,432	26,167	91,316	60,607

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Retirement Plans

6 Months Ended

Jun. 30, 2023

Retirement Plans

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

The Company maintains one defined contribution plan 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

Net periodic pension costs for the United States defined benefit pension plan for the three and six months ended June 30, 2023 and 2022 were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022

Interest cost	$	71	$	49	$	143	$	97
Expected return on plan assets	(64)		(66)		(128)		(132)
Recognized net actuarial loss	16		18		31		35
Net periodic pension cost	$	23	$	1	$	46	$	—

The Company has made contributions to its United States defined benefit plan of $176 during the six months ended June 30, 2023 and expects to make total contributions of $400 during 2023.

United Kingdom Defined Benefit Plan

Net periodic pension costs for the United Kingdom defined benefit pension plan for the three and six months ended June 30, 2023 and 2022 were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Interest cost	$	56	$	43	$	112	$	86
Expected return on plan assets	(84)		(76)		(168)		(152)
Amortization of prior service costs and transition amount	6		6		12		12
Recognized net actuarial loss	3		40		6		80
Net periodic pension (income) cost	$	(19)	$	13	$	(38)	$	26

United Kingdom regulations require trustees to adopt a prudent approach to funding required contributions to defined benefit pension plans. For the six months ended June 30, 2023, the Company contributed approximately $170 to the plan. The Company anticipates total contributions of approximately $340 to the United Kingdom pension plan during 2023.

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 for the periods presented:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
United States	$	793	$	390	$	1,407	$	695
Canada	32		45		94		105
United Kingdom	315		379		576		379
	$	1,140	$	814	$	2,077	$	1,179

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
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-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

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
-Topic 715
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Retirement Plans (Tables)

6 Months Ended

Jun. 30, 2023

Defined Benefit Plan Disclosure

Schedule of Costs of Retirement Plans

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
United States	$	793	$	390	$	1,407	$	695
Canada	32		45		94		105
United Kingdom	315		379		576		379
	$	1,140	$	814	$	2,077	$	1,179

United States

Defined Benefit Plan Disclosure

Schedule of Net Benefit Costs

Net periodic pension costs for the United States defined benefit pension plan for the three and six months ended June 30, 2023 and 2022 were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022

Interest cost	$	71	$	49	$	143	$	97
Expected return on plan assets	(64)		(66)		(128)		(132)
Recognized net actuarial loss	16		18		31		35
Net periodic pension cost	$	23	$	1	$	46	$	—

United Kingdom

Defined Benefit Plan Disclosure

Schedule of Net Benefit Costs

Net periodic pension costs for the United Kingdom defined benefit pension plan for the three and six months ended June 30, 2023 and 2022 were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Interest cost	$	56	$	43	$	112	$	86
Expected return on plan assets	(84)		(76)		(168)		(152)
Amortization of prior service costs and transition amount	6		6		12		12
Recognized net actuarial loss	3		40		6		80
Net periodic pension (income) cost	$	(19)	$	13	$	(38)	$	26

Commitments and Contingent Liabilities - Future Payments (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2023	$ 6,000
2024	8,000
Total	$ 14,000

Stock-Based Compensation

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Stock-Based Compensation

The Company recorded stock-based compensation expense of $945 and $925 for the three months ended June 30, 2023 and 2022, respectively, and $1,829 and $1,183 for the six months ended June 30, 2023 and 2022, respectively, related to restricted stock awards and performance unit awards. As of June 30, 2023, unrecognized compensation expense for awards that the Company expects to vest approximated $7,026. The Company will recognize this unrecognized compensation expense over the upcoming 2.7 years through March 2026.

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

Restricted Stock, Performance Share Units, and Performance-Based Stock Awards

Under the 2022 Equity and Incentive Compensation Plan, successor to the 2006 Omnibus Plan, the Company grants eligible employees restricted stock and performance share units. The forfeitable restricted stock awards granted generally time-vest ratably over a three-year period, unless indicated otherwise by the underlying restricted stock award agreement. Awards of restricted stock are subject to a minimum one-year vesting period, including those granted to non-employee directors. Performance share units are offered annually under separate three-year long-term incentive programs. Performance share units are subject to forfeiture and will be converted into common stock of the Company based upon the Company’s performance relative to performance measures and conversion multiples, as defined in the underlying program. The Company has, on occasion, issued performance share units with longer performance periods as incentivization and retention tools. If the Company’s estimate of the number of performance share units expected to vest changes in a subsequent accounting period, cumulative compensation expense could increase or decrease. The change will be recognized in the current period for the vested shares and would change future expense over the remaining vesting period.

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

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

In February 2023, the Compensation Committee approved the 2023-2025 Long Term Incentive Plan which includes grants of performance share units and restricted stock. The following table summarizes the restricted stock, deferred stock units, and performance-based stock and share unit activity for the six months ended June 30, 2023:


	Restricted Stock	Deferred Stock Units	Performance-Based Stock and Share Units	Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2022	174,173	46,268	108,478	$	17.77
Granted	181,914	—	367,558	11.78
Vested	(88,367)	(33,864)	—	15.97
Adjustment for incentive awards expected to vest	—	—	20,104	15.36

Outstanding as of June 30, 2023	267,720	12,404	496,140	$	14.44

Business Segments (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule of Reconciliation of Revenue from Segments to Consolidated

The operating results of the Company’s reportable segments were as follows for the periods presented:


	Three Months Ended June 30, 2023				Three Months Ended June 30, 2022
	Net Sales		Segment Operating Profit		Net Sales		Segment Operating Profit (Loss)
Rail, Technologies, and Services	$	91,616	$	6,627	$	81,797	$	3,998
Precast Concrete Products	33,865		1,296		23,611		(125)
Steel Products and Measurement	22,553		1,456		26,107		762
Total	$	148,034	$	9,379	$	131,515	$	4,635


	Six Months Ended June 30, 2023				Six Months Ended June 30, 2022
	Net Sales		Segment Operating Profit		Net Sales		Segment Operating Profit (Loss)
Rail, Technologies, and Services	$	156,000	$	9,015	$	145,507	$	5,037
Precast Concrete Products	58,153		948		38,621		(916)
Steel Products and Measurement	49,369		1,448		46,181		(1,386)
Total	$	263,522	$	11,411	$	230,309	$	2,735

Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated

A reconciliation of reportable segment net profit to the Company’s consolidated total for the periods presented:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Operating profit for reportable segments	$	9,379	$	4,635	$	11,411	$	2,735
Interest expense - net	(1,574)		(384)		(2,962)		(754)

Other (expense) income - net	(719)		701		(2,546)		1,264


Unallocated corporate expenses and other unallocated charges	(3,030)		(2,155)		(4,559)		(2,542)
Income before income taxes	$	4,056	$	2,797	$	1,344	$	703

Schedule of Reconciliation of Assets from Segment to Consolidated

The following table illustrates assets of the Company by reportable segment for the periods presented:


	June 30, 2023		December 31, 2022
Rail, Technologies, and Services	$	177,515	$	172,111
Precast Concrete Products	104,892		108,598
Steel Products and Measurement	38,492		54,516
Unallocated corporate assets	30,669		30,085
Total	$	351,568	$	365,310

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

3 Months Ended

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

Statement of Comprehensive Income [Abstract]

Net income

$ 3,493

$ 1,976

$ 1,322

$ 390

Other comprehensive income (loss), net of tax:

Foreign currency translation adjustment

1,252

(3,688)

2,503

(4,568)

Unrealized gain on cash flow hedges, net of tax expense of $0, $50, $0, and $238, respectively

496

147

698

Cash flow hedges reclassified to earnings, net of tax expense of $0, $0, $0, and $66, respectively

Reclassification of pension liability adjustments to earnings, net of tax expense of $2, $16, $4 and $32, respectively

^[1]

Total comprehensive income (loss)

5,282

(1,515)

3,984

(3,288)

Less comprehensive (loss) income attributable to noncontrolling interest:

Net loss attributable to noncontrolling interest

(38)

(34)

(57)

(54)

Foreign currency translation adjustment

(61)

Amounts attributable to noncontrolling interest

(9)

(95)

(24)

(30)

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

$ 5,291

$ (1,420)

$ 4,008

$ (3,258)

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

Financial Statements (Policies)	6 Months Ended
Financial Statements (Policies)	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of PresentationThe accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. In the opinion of management, all estimates and adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. This Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and footnotes thereto included in L.B. Foster Company’s Annual Report on Form 10-K for the year ended December 31, 2022. In this Quarterly Report on Form 10-Q, references to “we,” “us,” “our,” and the “Company” refer collectively to L.B. Foster Company and its consolidated subsidiaries.

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2023	Aug. 01, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Commission File Number	000-10436
Entity Registrant Name	L.B. Foster Company
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	25-1324733
Entity Address, Street Name	415 Holiday Drive
Entity Address, Suite	Suite 100
Entity Address, City	Pittsburgh
Entity Address, State	PA
Entity Address, Postal Zip Code	15220
City Area Code	412
Local Phone Number	928-3400
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	FSTR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		11,091,020
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000352825
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
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)	10,816,902	10,776,827
Treasury stock shares - at cost, common stock (in shares)	298,877	338,952

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Schedule of Nonvested Share Activity

The following table summarizes the restricted stock, deferred stock units, and performance-based stock and share unit activity for the six months ended June 30, 2023:


	Restricted Stock	Deferred Stock Units	Performance-Based Stock and Share Units	Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2022	174,173	46,268	108,478	$	17.77
Granted	181,914	—	367,558	11.78
Vested	(88,367)	(33,864)	—	15.97
Adjustment for incentive awards expected to vest	—	—	20,104	15.36

Outstanding as of June 30, 2023	267,720	12,404	496,140	$	14.44

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets
Gross Carrying Value	$ 68,610	$ 68,002
Accumulated amortization	47,354	44,171
Non-compete agreements
Finite-Lived Intangible Assets
Gross Carrying Value	28	27
Accumulated amortization	$ 28	$ 16

Long-Term Debt and Related Matters - Narrative (Details)	Aug. 13, 2021 USD ($)	Jun. 30, 2023 USD ($) covenant	Dec. 31, 2022 USD ($)	Aug. 12, 2022
Line of Credit Facility
Minimum leverage ratio				3.5
Line of credit facility, amount outstanding		$ 89,280,000	$ 91,567,000
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
Minimum 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
Minimum leverage ratio	3.5
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
Line of credit facility, amount outstanding		$ 1,173,000
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 \| 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

Earnings Per Common Share

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Earnings Per Common Share

(Share amounts in thousands)

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator for basic and diluted earnings per common share:
Net income	$	3,493	$	1,976	$	1,322	$	390


Denominator:
Weighted average shares outstanding	10,807		10,715		10,800		10,700
Denominator for basic earnings per common share	10,807		10,715		10,800		10,700
Effect of dilutive securities:
Stock compensation plans	71		99		66		109
Dilutive potential common shares	71		99		66		109
Denominator for diluted earnings per common share - adjusted weighted average shares outstanding	10,878		10,814		10,866		10,809


Basic earnings per common share	$	0.32	$	0.18	$	0.12	$	0.04


Diluted earnings per common share	$	0.32	$	0.18	$	0.12	$	0.04