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SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
We have three reportable and operating segments: Service Centers, Innovative Pumping Solutions and Supply Chain Services.

The Service Centers segment is engaged in providing maintenance, MRO products and equipment, 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, re-manufactures pumps, manufactures branded private label pumps, and provides products and process lines for the water and wastewater treatment industries.

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.

Sales are shown net of intersegment eliminations.
Segment information is prepared on the same basis that our Chief Executive Officer, who is our chief operating decision maker (“CODM”), manages the segments, evaluates financial results, and makes key operating decisions.

These segments were determined primarily on the distribution channels of the products and services offered and the nature of the customer markets and the primary driver of the customers spend. The Company's CODM directs the allocation of resources to these segments based upon historical and current revenue, direct operating expenses, operating income, and capital expenditures of each respective segment. The allocation of resources across these segments is dependent upon, among other factors, the segments' historical or future expected operating margins; the segments' historical or future expected returns on capital; outlook within a specific market; opportunities to grow profitability; new products, services or new customer accounts; confidence in management; and competitive landscape and intensity.

As a part of the Company's annual business planning, the CODM reviews our reportable segment composition and financial performance. As a result of this review, on January 1st, 2025, we moved certain branch locations previously reported under our IPS segment to our SC segment. Prior period segment information has not been recast, as the changes to our segment composition did not have a material impact on the operating results of our reportable 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
Depreciation932 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 expenditures461 $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
Depreciation785 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
Depreciation1,869 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
Depreciation1,527 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.
 June 30, 2025December 31, 2024
Service Centers$793,446 $764,533 
Innovative Pumping Solutions315,224 311,429 
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