XML 44 R32.htm IDEA: XBRL DOCUMENT
v3.25.2

SEGMENT REPORTING (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Financial Information Regarding Company's Segments | The following table sets out financial information related to the Company's segments (in thousands):
Three Months Ended June 30, 2025 |  | Service Center | Innovative Pumping Solutions | Supply Chain Services | Total Reportable Segments | Corporate | Total
Sales |  | $ | 339,731 |  | $ | 93,540 |  | $ | 65,411 |  | $ | 498,682 |  | $ | — |  | $ | 498,682 |
Operating expenses |  | 287,875 |  | 73,897 |  | 60,135 |  | 421,907 |  | — |  | 421,907 |
Other expenses |  |  |  |  |  |  |
Depreciation |  | 932 |  | 767 |  | 8 |  | 1,707 |  | 812 |  | 2,519 |
Amortization of finance lease assets |  | 753 |  | 234 |  | 39 |  | 1,026 |  | 616 |  | 1,642 |
Other(1) |  | — |  | — |  | — |  | — |  | 26,628 |  | 26,628 |
Operating Income |  | $ | 50,171 |  | $ | 18,642 |  | $ | 5,229 |  | $ | 74,042 |  | $ | (28,056) |  | $ | 45,986 |
Interest expense |  | — |  | — |  | — |  | — |  | 14,744 |  | 14,744 |
Other income, net |  | — |  | — |  | — |  | — |  | (354) |  | (354) |
Income before income taxes |  | $ | 50,171 |  | $ | 18,642 |  | $ | 5,229 |  | $ | 74,042 |  | $ | (42,446) |  | $ | 31,596 |
Capital expenditures |  | 461 |  | $ | 912 |  | $ | — |  | 1,373 |  | $ | 8,973 |  | $ | 10,346 |
(1). Other primarily includes selling, general and administrative expenses of $21.3 million and amortization of intangible assets of $5.3 million.
Three Months Ended June 30, 2024 |  | Service Center | Innovative Pumping Solutions | Supply Chain Services | Total Reportable Segments | Corporate | Total
Sales |  | $ | 306,516 |  | $ | 73,377 |  | $ | 65,663 |  | $ | 445,556 |  | $ | — |  | $ | 445,556 |
Operating expenses |  | 260,929 |  | 59,068 |  | 59,800 |  | 379,797 |  | — |  | 379,797 |
Other expenses |  |  |  |  |  |  |
Depreciation |  | 785 |  | 846 |  | 8 |  | 1,639 |  | 607 |  | 2,246 |
Amortization of finance lease assets |  | 947 |  | 97 |  | 32 |  | 1,076 |  | 84 |  | 1,160 |
Other(1) |  | — |  | — |  | — |  | — |  | 25,001 |  | 25,001 |
Operating Income |  | $ | 43,855 |  | $ | 13,366 |  | $ | 5,823 |  | $ | 63,044 |  | $ | (25,692) |  | $ | 37,352 |
Interest expense |  | — |  | — |  | — |  | — |  | 15,384 |  | 15,384 |
Other income, net |  | — |  | — |  | — |  | — |  | (1,035) |  | (1,035) |
Income before income taxes |  | $ | 43,855 |  | $ | 13,366 |  | $ | 5,823 |  | $ | 63,044 |  | $ | (40,041) |  | $ | 23,003 |
Capital expenditures |  | $ | 1,149 |  | $ | 1,004 |  | $ | — |  | $ | 2,153 |  | $ | 6,672 |  | $ | 8,825 |
(1). Other primarily includes selling, general and administrative expenses of $20.3 million and amortization of intangible assets of $4.7 million.
Six Months Ended June 30, 2025 |  | Service Center | Innovative Pumping Solutions | Supply Chain Services | Total Reportable Segments | Corporate | Total
Sales |  | $ | 666,806 |  | $ | 179,722 |  | $ | 128,723 |  | $ | 975,251 |  | $ | — |  | $ | 975,251 |
Operating expenses |  | 565,832 |  | 145,685 |  | 117,835 |  | 829,352 |  | — |  | 829,352 |
Other expenses |  |  |  |  |  |  |
Depreciation |  | 1,869 |  | 1,562 |  | 16 |  | 3,447 |  | 1,389 |  | 4,836 |
Amortization of finance lease assets |  | 1,890 |  | 426 |  | 80 |  | 2,396 |  | 708 |  | 3,104 |
Other(1) |  | — |  | — |  | — |  | — |  | 51,458 |  | 51,458 |
Operating Income |  | $ | 97,215 |  | $ | 32,049 |  | $ | 10,792 |  | $ | 140,056 |  | $ | (53,555) |  | $ | 86,501 |
Interest expense |  | — |  | — |  | — |  | — |  | 29,404 |  | 29,404 |
Other income, net |  | — |  | — |  | — |  | — |  | (1,672) |  | (1,672) |
Income before income taxes |  | $ | 97,215 |  | $ | 32,049 |  | $ | 10,792 |  | $ | 140,056 |  | $ | (81,287) |  | $ | 58,769 |
Capital expenditures |  | $ | 2,498 |  | $ | 1,486 |  | $ | — |  | $ | 3,984 |  | $ | 26,276 |  | $ | 30,260 |
(1). Other primarily includes selling, general and administrative expenses of $40.8 million and amortization of intangible assets of $10.7 million.
Six Months Ended June 30, 2024 |  | Service Center | Innovative Pumping Solutions | Supply Chain Services | Total Reportable Segments | Corporate | Total
Sales |  | $ | 594,952 |  | $ | 135,592 |  | $ | 127,647 |  | $ | 858,191 |  | $ | — |  | $ | 858,191 |
Operating expenses |  | 507,531 |  | 113,366 |  | 116,484 |  | 737,381 |  | — |  | 737,381 |
Other Expenses |  |  |  |  |  |  |
Depreciation |  | 1,527 |  | 1,699 |  | 16 |  | 3,242 |  | 1,214 |  | 4,456 |
Amortization of finance lease assets |  | 1,719 |  | 191 |  | 62 |  | 1,972 |  | 149 |  | 2,121 |
Other(1) |  | — |  | — |  | — |  | — |  | 47,750 |  | 47,750 |
Operating Income |  | $ | 84,175 |  | $ | 20,336 |  | $ | 11,085 |  | $ | 115,596 |  | $ | (49,113) |  | $ | 66,483 |
Interest expense |  | — |  | — |  | — |  | — |  | 30,928 |  | 30,928 |
Other income, net |  | — |  | — |  | — |  | — |  | (3,004) |  | (3,004) |
Income before income taxes |  | $ | 84,175 |  | $ | 20,336 |  | $ | 11,085 |  | $ | 115,596 |  | $ | (77,037) |  | $ | 38,559 |
Capital expenditures |  | $ | 2,055 |  | $ | 1,644 |  | $ | 13 |  | $ | 3,712 |  | $ | 8,007 |  | $ | 11,719 |
(1). Other primarily includes selling, general and administrative expenses of $38.7 million and amortization of intangible assets of $9.1 million.
Schedule of Reconciliation of Operating Income for Reportable Segments to Consolidated Income |
| June 30, 2025 |  | December 31, 2024
Service Centers | $ | 793,446 |  |  | $ | 764,533 |
Innovative Pumping Solutions | 315,224 |  |  | 311,429 |
Supply Chain Services | 87,774 |  |  | 62,760 |
Total Reportable Segments Assets | $ | 1,196,444 |  |  | $ | 1,138,722 |
Corporate | 215,950 |  |  | 210,772 |
Total Assets | $ | 1,412,394 |  |  | $ | 1,349,494 |

X
- 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
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration