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SEGMENT REPORTING

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

SEGMENT REPORTING

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 excluding amortization (in thousands):

	Three Months Ended September 30,
	2018																2017
	SC				IPS				SCS				Total				SC				IPS				SCS				Total
Sales	$	187,763			$	76,662			$	43,603			$	308,028			$	160,863			$	51,027			$	40,040			$	251,930
Income from operations	$	20,590			$	8,773			$	3,886			$	33,249			$	15,550			$	1,838			$	3,982			$	21,370

	Nine Months Ended September 30,
	2018																2017
	SC				IPS				SCS				Total				SC				IPS				SCS				Total
Sales	$	556,700			$	218,561			$	129,930			$	905,191			$	474,324			$	144,555			$	122,276			$	741,155
Income from operations	$	58,353			$	24,109			$	12,196			$	94,658			$	47,308			$	7,103			$	11,758			$	66,169

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,
	2018				2017				2018				2017
Operating income for reportable segments	$	33,249			$	21,370			$	94,658			$	66,169
Adjustment for:
Amortization of intangible assets	4,098				4,336				12,575				12,943
Corporate expenses	12,338				10,524				34,061				28,223
Income from operations	16,813				6,510				48,022				25,003
Interest expense	4,781				4,928				15,959				12,573
Other (income) expense, net	120				(153		)		(1,318		)		(324		)
Income before income taxes	$	11,912			$	1,735			$	33,381			$	12,754

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- References

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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