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SEGMENT REPORTING (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Schedule of Financial Information Regarding Company's Segments | The following table sets out financial information related to the Company's segments excluding amortization (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  |  |  | 2024 |  | 2023
Sales |  |  |  |  |  |  |  |  |
Service Centers | $ | 306,516 |  |  | $ | 313,806 |  |  |  |  | $ | 594,952 |  |  | $ | 619,619 |
Innovative Pumping Solutions | 73,377 |  |  | 48,067 |  |  |  |  | 135,592 |  |  | 99,478 |
Supply Chain Services | 65,663 |  |  | 66,167 |  |  |  |  | 127,647 |  |  | 133,210 |
Total Sales | $ | 445,556 |  |  | $ | 428,040 |  |  |  |  | $ | 858,191 |  |  | $ | 852,307 |
Operating Income |  |  |  |  |  |  |  |  |
Service Centers | $ | 43,855 |  |  | $ | 46,823 |  |  |  |  | $ | 84,175 |  |  | $ | 92,637 |
Innovative Pumping Solutions | 13,366 |  |  | 6,760 |  |  |  |  | 20,336 |  |  | 15,956 |
Supply Chain Services | 5,823 |  |  | 5,416 |  |  |  |  | 11,085 |  |  | 10,930 |
Total Segments Operating Income | $ | 63,044 |  |  | $ | 58,999 |  |  |  |  | $ | 115,596 |  |  | $ | 119,523 |
Schedule of Reconciliation of Operating Income for Reportable Segments to Consolidated Income Before Taxes | The following table presents reconciliations of income from operations for reportable segments to the consolidated income before taxes (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Income from operations for reportable segments | $ | 63,044 |  |  | $ | 58,999 |  |  | $ | 115,596 |  |  | $ | 119,523 |
Adjustment for: |  |  |  |  |  |  |
Amortization of intangible assets | 4,719 |  |  | 4,582 |  |  | 9,088 |  |  | 9,340 |
Corporate expenses | 20,973 |  |  | 16,937 |  |  | 40,025 |  |  | 37,304 |
Income from operations | $ | 37,352 |  |  | $ | 37,480 |  |  | 66,483 |  |  | 72,879 |
Interest expense | 15,384 |  |  | 11,863 |  |  | 30,928 |  |  | 23,384 |
Other income, net | (1,035) |  |  | (242) |  |  | (3,004) |  |  | (712) |
Income before income taxes | $ | 23,003 |  |  | $ | 25,859 |  |  | $ | 38,559 |  |  | $ | 50,207 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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