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Foster L B Co – ‘10-K’ for 12/31/18 – ‘EX-18’

On:  Monday, 3/18/19, at 11:21am ET   ·   For:  12/31/18   ·   Accession #:  352825-19-12   ·   File #:  0-10436

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  As Of               Filer                 Filing    For·On·As Docs:Size

 3/18/19  Foster L B Co                     10-K       12/31/18  132:15M

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.61M 
 3: EX-21       Subsidiaries List                                   HTML     38K 
 4: EX-23       Consent of Experts or Counsel                       HTML     34K 
 2: EX-18       Letter re: Change in Accounting Principles          HTML     34K 
 5: EX-31.1     Certification -- §302 - SOA'02                      HTML     41K 
 6: EX-31.2     Certification -- §302 - SOA'02                      HTML     41K 
 7: EX-32.0     Certification -- §906 - SOA'02                      HTML     37K 
14: R1          Document and Entity Information                     HTML     63K 
15: R2          Consolidated Balance Sheets                         HTML    116K 
16: R3          Consolidated Balance Sheets (Parenthetical)         HTML     45K 
17: R4          Consolidated Statements of Operations               HTML     78K 
18: R5          Consolidated Statements of Comprehensive (Loss)     HTML     59K 
                Income                                                           
19: R6          Consolidated Statements of Comprehensive (Loss)     HTML     42K 
                Income (Parenthetical)                                           
20: R7          Consolidated Statements of Cash Flows               HTML    124K 
21: R8          Consolidated Statements of Stockholders Equity      HTML     68K 
22: R9          Consolidated Statements of Stockholders Equity      HTML     36K 
                (Parenthetical)                                                  
23: R10         Summary of Significant Accounting Policies          HTML     73K 
24: R11         Business Segments                                   HTML    134K 
25: R12         Revenue                                             HTML     89K 
26: R13         Goodwill and Other Intangible Assets                HTML     94K 
27: R14         Accounts Receivable                                 HTML     55K 
28: R15         Inventories                                         HTML    224K 
29: R16         Property, Plant and Equipment                       HTML     49K 
30: R17         Investments                                         HTML     41K 
31: R18         Deferred Revenue                                    HTML     37K 
32: R19         Long-Term Debt and Related Matters                  HTML     65K 
33: R20         Stockholders' Equity                                HTML     47K 
34: R21         Accumulated Other Comprehensive Loss                HTML     59K 
35: R22         Earnings Per Common Share                           HTML     53K 
36: R23         Income Taxes                                        HTML    148K 
37: R24         Stock-Based Compensation                            HTML     73K 
38: R25         Retirement Plans                                    HTML    209K 
39: R26         Rental and Lease Information                        HTML     58K 
40: R27         Fair Value Measurements                             HTML     70K 
41: R28         Commitments and Contingent Liabilities              HTML     91K 
42: R29         Other Income                                        HTML     52K 
43: R30         Quarterly Financial Information (Unaudited)         HTML    108K 
44: R31         Summary of Significant Accounting Policies          HTML    109K 
                (Policies)                                                       
45: R32         Business Segments (Tables)                          HTML    137K 
46: R33         Revenue (Tables)                                    HTML     76K 
47: R34         Goodwill and Other Intangible Assets (Tables)       HTML     96K 
48: R35         Accounts Receivable (Tables)                        HTML     44K 
49: R36         Inventories (Tables)                                HTML    226K 
50: R37         Property, Plant and Equipment (Tables)              HTML     49K 
51: R38         Investments (Tables)                                HTML     47K 
52: R39         Long-Term Debt and Related Matters (Tables)         HTML     58K 
53: R40         Stockholders' Equity (Tables)                       HTML     45K 
54: R41         Accumulated Other Comprehensive Loss (Tables)       HTML     44K 
55: R42         Earnings Per Common Share (Tables)                  HTML     53K 
56: R43         Income Taxes (Tables)                               HTML    149K 
57: R44         Stock-Based Compensation (Tables)                   HTML     63K 
58: R45         Retirement Plans (Tables)                           HTML    256K 
59: R46         Rental and Lease Information (Tables)               HTML     59K 
60: R47         Fair Value Measurements (Tables)                    HTML     60K 
61: R48         Commitments and Contingent Liabilities (Tables)     HTML     61K 
62: R49         Other Income (Tables)                               HTML     51K 
63: R50         Quarterly Financial Information (Unaudited)         HTML    108K 
                (Tables)                                                         
64: R51         Summary of Significant Accounting Policies          HTML     91K 
                (Details)                                                        
65: R52         Business Segments (Narratives) (Details)            HTML     35K 
66: R53         Business Segments (Reconciliation of Revenue from   HTML     63K 
                Segments to Consolidated) (Details)                              
67: R54         Business Segments (Reconciliation of Operating      HTML     76K 
                Profit (Loss) from Segments to Consolidated)                     
                (Details)                                                        
68: R55         Business Segments (Sales by Geographical Location)  HTML     46K 
                (Details)                                                        
69: R56         Business Segments (Long-Lived Assets By             HTML     44K 
                Geographical Location) (Details)                                 
70: R57         Business Segment (Sales by Major Product Line)      HTML     50K 
                (Details)                                                        
71: R58         Revenue (Narratives) (Details)                      HTML     61K 
72: R59         Revenue (Details)                                   HTML     56K 
73: R60         Revenue (Timing of Transfer) (Details)              HTML     54K 
74: R61         Revenue (Remaining Performance Obligation)          HTML     43K 
                (Narratives) (Details)                                           
75: R62         Goodwill and Other Intangible Assets (Narrative)    HTML     43K 
                (Details)                                                        
76: R63         Goodwill and Other Intangible Assets (Schedule of   HTML     46K 
                Goodwill) (Details)                                              
77: R64         Goodwill and Other Intangible Assets (Schedule of   HTML     64K 
                Intangible Assets) (Details)                                     
78: R65         Goodwill and Other Intangible Assets (Schedule of   HTML     50K 
                Expected Amortization Expense) (Details)                         
79: R66         Accounts Receivable (Details)                       HTML     41K 
80: R67         Accounts Receivable (Narratives) (Details)          HTML     36K 
81: R68         Accounts Receivable (Segment) (Details)             HTML     43K 
82: R69         Inventories (Narratives) (Details)                  HTML     36K 
83: R70         Inventories (Schedule of Inventory) (Details)       HTML     47K 
84: R71         Inventories (Balance Sheet Adjustments) (Details)   HTML     57K 
85: R72         Inventories (Income Statement, Comprehensive        HTML    121K 
                Income, and Cashflows Impact) (Details)                          
86: R73         Property, Plant and Equipment (Details)             HTML     60K 
87: R74         Investments (Narrative) (Details)                   HTML     71K 
88: R75         Investments (Schedule of Direct Financing Future    HTML     38K 
                Minimum Lease Payments for Capital Leases)                       
                (Details)                                                        
89: R76         Investments (Schedule of Variable Interest          HTML     44K 
                Entities) (Details)                                              
90: R77         Deferred Revenue (Details)                          HTML     41K 
91: R78         Long-Term Debt and Related Matters (Schedule of     HTML     52K 
                Long-term Debt Instruments) (Details)                            
92: R79         Long-Term Debt and Related Matters (Schedule of     HTML     53K 
                Long Term Debt Maturities) (Details)                             
93: R80         Long-Term Debt and Related Matters (Narrative -     HTML     86K 
                North America) (Details)                                         
94: R81         Long-Term Debt and Related Matters (Narrative -     HTML     52K 
                United Kingdom) (Details)                                        
95: R82         Stockholders' Equity (Narratives) (Details)         HTML     54K 
96: R83         Stockholders' Equity (Rollforward of Common Stock)  HTML     45K 
                (Details)                                                        
97: R84         Accumulated Other Comprehensive Loss (Details)      HTML     48K 
98: R85         Earning Per Common Share (Schedule of Earnings Per  HTML     71K 
                Share, Basic and Diluted) (Details)                              
99: R86         Income Taxes (Income Before Income Tax Domestic     HTML     44K 
                And Foreign Components Table) (Details)                          
100: R87         Income Taxes (Significant Components Of The         HTML     65K  
                Provision For Income Taxes) (Details)                            
101: R88         Income Taxes (Reconciliation Of Income Tax Rates)   HTML    124K  
                (Details)                                                        
102: R89         Income Taxes (Significant Components Of Deferred    HTML     82K  
                Tax Liabilities And Assets) (Details)                            
103: R90         Income Taxes (Narratives) (Details)                 HTML     66K  
104: R91         Income Taxes (Reconciliation Of Unrecognized Tax    HTML     41K  
                Benefits Table) (Details)                                        
105: R92         Stock-Based Compensation (Narrative) (Details)      HTML     72K  
106: R93         Stock-Based Compensation (Restricted Stock          HTML     73K  
                Deferred Stock, and Performance Share Units)                     
                (Details)                                                        
107: R94         Retirement Plans (Narrative) (Details)              HTML     63K  
108: R95         Retirement Plans (Schedule of Benefit Obligation,   HTML     89K  
                Fair Value of Assets, and Funded Status of the                   
                Plans) (Details)                                                 
109: R96         Retirement Plans (Schedule Of Net Benefit Costs)    HTML     50K  
                (Details)                                                        
110: R97         Retirement Plans (Actuarial Assumptions) (Details)  HTML     43K  
111: R98         Retirement Plans (Accumulated Benefit Obligations   HTML     47K  
                in Excess of Plan Asset) (Details)                               
112: R99         Retirement Plans (Plan Asset Investment Allocation  HTML     64K  
                Percentage) (Details)                                            
113: R100        Retirement Plans (Information About Plan Assets)    HTML     62K  
                (Details)                                                        
114: R101        Retirement Plans (Future Benefit Payments)          HTML     52K  
                (Details)                                                        
115: R102        Retirement Plans (Other Post-Retirement Retirement  HTML     42K  
                Plan) (Details)                                                  
116: R103        Retirement Plans (Schedule of Costs of Retirement   HTML     43K  
                Plans) (Details)                                                 
117: R104        Rental and Lease Information (Narratives)           HTML     35K  
                (Details)                                                        
118: R105        Rental And Lease Information (Future Minimum Lease  HTML     80K  
                Payment) (Details)                                               
119: R106        Rental And Lease Information (Assets Recorded       HTML     40K  
                Under Capital Leases) (Details)                                  
120: R107        Fair Value Measurements (Narrative) (Details)       HTML     47K  
121: R108        Fair Value Measurements (Schedule of Fair Value,    HTML     51K  
                Assets and Liabilities Measured on Recurring                     
                Basis) (Details)                                                 
122: R109        Commitments and Contingent Liabilities              HTML    102K  
                (Narratives) (Details)                                           
123: R110        Commitments and Contingent Liabilities (Schedule    HTML     42K  
                of Product Warranty Liability) (Details)                         
124: R111        Commitments and Contingencies (Schedule of Future   HTML     48K  
                Payments of Legal Settlements) (Details)                         
125: R112        Commitments and Contingent Liabilities              HTML     41K  
                (Environmental Loss Contingencies) (Details)                     
126: R113        Other Income (Details)                              HTML     69K  
127: R114        Quarterly Financial Information (Unaudited)         HTML     59K  
                (Details)                                                        
128: R9999       Uncategorized Items - fstr-20181231.htm             HTML     74K  
130: XML         IDEA XML File -- Filing Summary                      XML    254K  
13: XML         XBRL Instance -- fstr-20181231_htm                   XML   4.17M 
129: EXCEL       IDEA Workbook of Financial Reports                  XLSX    149K  
 9: EX-101.CAL  XBRL Calculations -- fstr-20181231_cal               XML    391K 
10: EX-101.DEF  XBRL Definitions -- fstr-20181231_def                XML   1.17M 
11: EX-101.LAB  XBRL Labels -- fstr-20181231_lab                     XML   2.30M 
12: EX-101.PRE  XBRL Presentations -- fstr-20181231_pre              XML   1.62M 
 8: EX-101.SCH  XBRL Schema -- fstr-20181231                         XSD    246K 
131: JSON        XBRL Instance as JSON Data -- MetaLinks              513±   802K  
132: ZIP         XBRL Zipped Folder -- 0000352825-19-000012-xbrl      Zip    489K  


‘EX-18’   —   Letter re: Change in Accounting Principles


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Exhibit 18
Change in Accounting Principle Preferability Letter

March 18, 2019

Board of Directors
L.B. Foster Company
415 Holiday Drive
Pittsburgh, PA 15220

Ladies and Gentlemen:

Notes 1 and 6 to the consolidated financial statements of L.B. Foster Company and Subsidiaries included in its Form 10-K for the year ended December 31, 2018 describe a change in the method of accounting for inventory valuation from the last-in, first-out (LIFO) method to the average cost method for certain inventory in the United States. There are no authoritative criteria for determining a “preferable” inventory method based on the particular circumstances; however, we conclude that such change in the method of accounting is to an acceptable alternative method which, based on your business judgment to make this change and for the stated reasons, is preferable in your circumstances.


Very truly yours,

/s/ Ernst & Young LLP
Pittsburgh, Pennsylvania


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:3/18/198-K
For Period end:12/31/1811-K,  SD
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Filing Submission 0000352825-19-000012   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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