SEGMENT AND GEOGRAPHICAL REPORTING (Tables)

12 Months Ended

Dec. 31, 2014

SEGMENT AND GEOGRAPHICAL REPORTING [Abstract]

The following table sets out financial information relating the Company’s segments (in thousands):

Years Ended December 31,	Service Centers	Innovative Pumping Solutions	Supply Chain Services	Total
2014
Sales	$987,561	$ 348,134	$ 163,967	$1,499,662
Operating income for reportable segments, excluding impairment expense	107,699	51,162	13,794	172,655
Identifiable assets at year end	568,182	202,228	54,637	825,047
Capital expenditures	4,100	4,043	122	8,265
Depreciation	8,416	2,381	397	11,194
Amortization	11,281	8,993	2,206	22,480
Interest expense	3,422	8,451	924	12,797
Impairment expense by segment	10,210	107,359	-	117,569

2013
Sales	$884,821	$209,175	$147,514	$1,241,510
Operating income for reportable segments	107,142	33,766	12,490	153,398
Identifiable assets at year end	500,978	66,007	48,049	615,034
Capital expenditures	6,321	357	206	6,884
Depreciation	7,770	446	366	8,582
Amortization	8,574	1,043	2,213	11,830
Interest expense	3,762	1,636	884	6,282

2012
Sales	$779,038	$161,834	$156,238	$1,097,110
Operating income for reportable segments	88,924	32,099	12,495	133,518
Identifiable assets at year end	440,271	56,982	50,515	547,768
Capital expenditures	4,829	261	-	5,090
Depreciation	5,734	306	175	6,215
Amortization	8,795	663	1,428	10,886
Interest expense	3,701	1,243	616	5,560

Reconciliation of Operating Income for Reportable Segments to Consolidated Income before Taxes

	Years Ended December 31,

	2014	2013	2012
Operating income for reportable segments, excluding impairment expense	$ 172,655	$ 153,398	$ 133,518
Adjustments for:
Impairment expense	117,569	-	-
Amortization of intangibles	22,480	11,830	10,886
Corporate and other expense, net	45,234	40,644	32,110
Total operating income (loss)	(12,628)	100,924	90,522
Interest expense	12,797	6,282	5,560
Other expenses (income), net	131	(75)	(47)
Income (loss) before income taxes	$ (25,556)	$ 94,717	$ 85,009

Schedule of Revenue by Geographic Area

The Company’s revenues and property and equipment by geographical location are as follows (in thousands):

	Years Ended December 31,
	2014	2013	2012
Revenues
United States	$ 1,300,493	$1,075,962	$1,039,712
Canada	195,633	165,548	57,398
Other	3,536	-	-
Total	$ 1,499,662	$1,241,510	$1,097,110

Schedule of Property and Equipment by Geographical Areas

	As of December 31,
	2014	2013
Property and Equipment, net
United States	$ 49,013	$ 32,878
Canada	20,966	25,375
Total	$ 69,979	$58,253

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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