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SEGMENT AND GEOGRAPHICAL REPORTING (Tables) | 12 Months Ended
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Dec. 31, 2016
SEGMENT AND GEOGRAPHICAL REPORTING [Abstract] |
Segment Reporting Financial Information | 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 |
2016 |  |  |  |  |  |  |  |  |  |  |  |
Sales |  | $ | 621,007 |  |  | $ | 187,124 |  |  | $ | 153,961 |  |  | $ | 962,092 |
Operating income for reportable segments, excluding amortization |  |  | 47,634 |  |  |  | 9,867 |  |  |  | 15,449 |  |  |  | 72,950 |
Identifiable assets at year end |  |  | 370,261 |  |  |  | 175,198 |  |  |  | 44,796 |  |  |  | 590,255 |
Capital expenditures |  |  | 447 |  |  |  | 3,827 |  |  |  | 129 |  |  |  | 4,403 |
Proceeds from sale of fixed assets |  |  | 1,038 |  |  |  | 168 |  |  |  | - |  |  |  | 1,206 |
Depreciation |  |  | 6,520 |  |  |  | 3,834 |  |  |  | 126 |  |  |  | 10,480 |
Amortization |  |  | 9,152 |  |  |  | 7,826 |  |  |  | 1,083 |  |  |  | 18,061 |
Interest expense |  |  | 9,290 |  |  |  | 4,422 |  |  |  | 1,852 |  |  |  | 15,564 |
2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales |  | $ | 826,588 |  |  | $ | 254,829 |  |  | $ | 165,626 |  |  | $ | 1,247,043 |
Operating income for reportable segments, excluding impairment expense |  |  | 78,170 |  |  |  | 21,584 |  |  |  | 14,213 |  |  |  | 113,967 |
Identifiable assets at year end |  |  | 451,333 |  |  |  | 159,365 |  |  |  | 50,012 |  |  |  | 660,710 |
Capital expenditures |  |  | 3,185 |  |  |  | 8,383 |  |  |  | 604 |  |  |  | 12,172 |
Depreciation |  |  | 7,734 |  |  |  | 2,930 |  |  |  | 227 |  |  |  | 10,891 |
Amortization |  |  | 10,334 |  |  |  | 8,406 |  |  |  | 1,881 |  |  |  | 20,621 |
Interest expense |  |  | 2,967 |  |  |  | 6,881 |  |  |  | 1,084 |  |  |  | 10,932 |
Impairment expense by segment |  |  | 15,842 |  |  |  | 52,893 |  |  |  | - |  |  |  | 68,735 |
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 |
Reconciliation of Operating Income for Reportable Segments to Consolidated Income before Taxes |
|  | Years Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Operating income for reportable segments, excluding impairment expense |  | $ | 72,950 |  |  | $ | 113,967 |  |  | $ | 172,655 |
Adjustments for: |  |  |  |  |  |  |  |  |  |  |  |
B27 settlement |  |  | - |  |  |  | 7,348 |  |  |  | - |
Impairment expense |  |  | - |  |  |  | 68,735 |  |  |  | 117,569 |
Amortization of intangibles |  |  | 18,061 |  |  |  | 20,621 |  |  |  | 22,480 |
Corporate and other expense, net |  |  | 35,557 |  |  |  | 45,179 |  |  |  | 45,234 |
Total operating income (loss) |  |  | 19,332 |  |  |  | (27,916 | ) |  |  | (12,628 | )
Interest expense |  |  | 15,564 |  |  |  | 10,932 |  |  |  | 12,797 |
Other expenses (income), net |  |  | (5,906 | ) |  |  | 72 |  |  |  | 131 |
Income (loss) before income taxes |  | $ | 9,674 |  |  | $ | (38,920 | ) |  | $ | (25,556 | )
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, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Revenues |  |  |  |  |  |  |  |  |
United States |  | $ | 873,926 |  |  | $ | 1,119,210 |  |  | $ | 1,300,493 |
Canada |  |  | 88,166 |  |  |  | 127,833 |  |  |  | 195,633 |
Other |  |  | - |  |  |  | - |  |  |  | 3,536 |
Total |  | $ | 962,092 |  |  | $ | 1,247,043 |  |  | $ | 1,499,662 |
Schedule of Property and Equipment by Geographical Areas |
|  | As of December 31, |
|  | 2016 |  |  | 2015 |
Property and Equipment, net |  |  |  |  |  |
United States |  | $ | 48,635 |  |  | $ | 53,695 |
Canada |  |  | 12,172 |  |  |  | 14,724 |
Dubai |  |  | - |  |  |  | 84 |
Total |  | $ | 60,807 |  |  | $ | 68,503 |

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8736-108599 + Details
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