Restructuring Costs

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Restructuring Costs

Restructuring Costs

In August 2024, the Company announced an enterprise restructuring program aligned with its strategy to reduce costs and enable investment in its growth platforms. The restructuring action has been completed as of December 31, 2024.

The following table sets forth restructuring costs by segment for the year ended December 31, 2024:

	Year Ended December 31,
	2024
Rail, Technologies, and Services	$	1,134
Infrastructure Solutions	113
Corporate	209
Total	$	1,456

The Company's $1,456 restructuring expense relates primarily to severance. Of the total restructuring costs incurred for the year ended December 31, 2024, $245 was recorded in “Cost of goods sold” and $1,211 was reported in “Selling and administrative expense.” The Company does not anticipate any additional restructuring expense to be incurred associated with this program.

The following table sets forth a reconciliation of the beginning and ending restructuring liability balance through December 31, 2024 (the remaining liability is expected to be paid in 2025):

	Restructuring Liability
Balance as of December 31, 2023	$	—
Restructuring costs	1,456
Cash paid	(769)
Balance as of December 31, 2024	$	687