Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

As of December 31, 2025 and 2024, the following table represents the goodwill balance by reportable segment:


	Rail, Technologies, and Services		Infrastructure Solutions		Total





Balance as of December 31, 2024:	$	20,231	$	11,676	$	31,907
Foreign currency translation impact	1,155		—		1,155


Balance as of December 31, 2025:	$	21,386	$	11,676	$	33,062

During the fourth quarter of 2025, the Company performed a quantitative test for impairment of goodwill due to weakened economic conditions and recent increases in the costs of certain materials, labor, and other pressures unfavorably impacting financial results. The Company determined the implied fair value of its reporting units by using assumptions we believe would be a reasonable market participant's view in a hypothetical purchase to develop the discounted cash flows of the respective reporting units. These assumptions include future cash flows, discount rates, and market participant assumptions. The results of the test indicated that all reporting units that maintain goodwill adequately exceeded their carrying value and were not subject to impairment. As a result of the procedures performed as outlined above, no impairments were recorded in 2025.

As of December 31, 2025 and 2024, the components of the Company’s intangible assets were as follows:


	December 31, 2025
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount

Patents	10	$	324	$	(211)	$	113
Customer relationships	12	28,771		(22,331)		6,440
Trademarks and trade names	13	8,055		(5,818)		2,237
Technology	7	32,819		(30,224)		2,595
Favorable lease	6	327		(186)		141
		$	70,296	$	(58,770)	$	11,526

	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

Intangible assets are amortized over their useful lives ranging from 5 to 25 years, with a total weighted average amortization period of approximately 10 years. Amortization expense for the years ended December 31, 2025 and 2024 were $3,311 and $4,628, respectively.

Estimated annual amortization expense for the years ending December 31, 2026 and thereafter is as follows:


Year Ending December 31,
2026	$	2,396
2027	2,098
2028	1,526
2029	1,127
2030	1,122
2031 and thereafter	3,257
	$	11,526