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SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2016
SEGMENT REPORTING [Abstract]  
SEGMENT REPORTING
NOTE 14 - SEGMENT REPORTING

The Company’s reportable business segments are: Service Centers, Innovative Pumping Solutions and Supply Chain Services. The Service Centers segment is engaged in providing maintenance, MRO products, equipment and integrated services, including logistics capabilities, to industrial customers. The Service Centers segment provides a wide range of MRO products in the rotating equipment, bearing, power transmission, hose, fluid power, metal working, fastener, industrial supply, safety products and safety services categories. The Innovative Pumping Solutions segment fabricates and assembles custom-made pump packages, remanufactures pumps and manufactures branded private label pumps. The Supply Chain Services segment provides a wide range of MRO products and manages all or part of a customer's supply chain, including warehouse and inventory management.

The high degree of integration of the Company’s operations necessitates the use of a substantial number of allocations and apportionments in the determination of business segment information. Sales are shown net of intersegment eliminations.

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

  
For the Three Months Ended June 30,
 
  
2016
  
2015
 
  
SC
  
IPS
  
SCS
  
Total
  
SC
  
IPS
  
SCS
  
Total
 
Sales
 
$
161,832
  
$
54,353
  
$
40,030
  
$
256,215
  
$
214,116
  
$
66,905
  
$
42,667
  
$
323,688
 
Amortization
  
2,284
   
1,955
   
271
   
4,510
   
2,928
   
2,107
   
274
   
5,309
 
Operating income
  
10,313
   
3,532
   
3,931
   
17,776
   
18,191
   
3,805
   
3,462
   
25,458
 
Operating income, excluding amortization
 
$
12,597
  
$
5,487
  
$
4,202
  
$
22,286
  
$
21,119
  
$
5,912
  
$
3,736
  
$
30,767
 

  
For the Six Months Ended June 30,
 
  
2016
  
2015
 
  
SC
  
IPS
  
SCS
  
Total
  
SC
  
IPS
  
SCS
  
Total
 
Sales
 
$
329,334
  
$
101,784
  
$
78,658
  
$
509,776
  
$
439,907
  
$
141,169
  
$
84,206
  
$
665,282
 
Amortization
  
4,579
   
3,917
   
542
   
9,038
   
5,904
   
4,215
   
548
   
10,667
 
Operating income
  
17,555
   
1,876
   
7,140
   
26,571
   
38,081
   
10,324
   
6,466
   
54,871
 
Operating income, excluding amortization
 
$
22,134
  
$
5,793
  
$
7,682
  
$
35,609
  
$
43,985
  
$
14,539
  
$
7,014
  
$
65,538
 
 
The following table presents reconciliations of operating income for reportable segments to the consolidated income before taxes (in thousands):
 
  Three Months Ended
June 30,
  
Six Months Ended
June 30,
 
  
2016
  
2015
  
2016
  
2015
 
Operating income for reportable segments, excluding amortization
 
$
22,286
  
$
30,767
  
$
35,609
  
$
65,538
 
Adjustment for:
                
Amortization of intangibles
  
4,510
   
5,309
   
9,038
   
10,667
 
Corporate expense
  
8,927
   
11,463
   
19,724
   
22,777
 
Total operating income
  
8,849
   
13,995
   
6,847
   
32,094
 
Interest expense
  
3,951
   
2,592
   
7,360
   
5,275
 
Other expense (income), net
  
9
   
(145
)
  
(146
)
  
(394
)
Income before income taxes
 
$
4,889
  
$
11,548
  
$
(367
)
 
$
27,213