Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

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


	Rail, Technologies, and Services		Infrastructure Solutions		Total
Balance as of December 31, 2024	$	20,231	$	11,676	$	31,907


Foreign currency translation impact	1,408		—		1,408


Balance as of June 30, 2025	$	21,639	$	11,676	$	33,315

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 includes the impacts of current economic conditions, including but not limited to concerns related to inflation, tariffs, labor markets, supply chains, and changes in trade policy. 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, 2025. However, future impairment charges could result if future projections diverge unfavorably from current expectations.

The following table sets forth the components of the Company’s intangible assets for the periods presented:


	June 30, 2025
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount

Patents	10	$	324	$	(212)	$	112
Customer relationships	12	28,957		(21,855)		7,102
Trademarks and trade names	13	8,075		(5,565)		2,510
Technology	8	32,863		(29,876)		2,987
Favorable lease	6	327		(159)		168
		$	70,546	$	(57,667)	$	12,879


	December 31, 2024
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Patents	10	$	308	$	(198)	$	110
Customer relationships	13	28,006		(19,958)		8,048
Trademarks and trade names	13	7,974		(5,219)		2,755
Technology	9	32,616		(28,923)		3,693
Favorable lease	6	327		(132)		195
		$	69,231	$	(54,430)	$	14,801