SEGMENT REPORTING (Tables)

9 Months Ended

Sep. 30, 2015

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

	Three Months ended September 30,								Nine Months ended September 30,
	Service Centers		IPS		SCS		Total		Service Centers		IPS		SCS		Total
2015
Sales	$	199,306	$	61,458	$	42,316	$	303,080	$	639,212	$	202,627	$	126,523	$	968,362
Operating income for reportable segments¹	$	17,957	$	6,139	$	3,821	$	27,917	$	61,943	$	20,667	$	10,835	$	93,455

2014
Sales	$	255,041	$	88,614	$	43,398	$	387,053	$	735,104	$	259,070	$	122,986	$	1,117,160
Operating income for reportable segments	$	29,444	$	14,979	$	3,721	$	48,144	$	79,356	$	40,328	$	10,424	$	130,108

(1) Excludes impairment expense of $48.0 million for IPS and $10.9 for Service Centers.

The following table presents reconciliations of operating income for reportable segments to the consolidated income before taxes (in thousands):

	Three Months Ended September 30,					Nine Months Ended September 30,

	2015			2014		2015			2014
Operating income for reportable segments	$	27,917		$	48,144	$	93,455		$	130,108
Adjustment for:
B27 settlement		7,348			-		7,348			-
Impairment		58,888			-		58,888			-
Amortization of intangibles		5,240			5,658		15,907			16,895
Corporate expense		12,053			11,688		34,830			33,869
Total operating income (loss)		(55,612	)		30,798		(23,518	)		79,344
Interest expense		2,630			3,295		7,905			9,868
Other expense (income), net		327			10		(67	)		1
Income (loss) before income taxes	$	(58,569	)	$	27,493	$	(31,356	)	$	69,475