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Business Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2017
Segment Reporting [Abstract] |
Net Sales and Income from Operation by Business Segment | The financial segment information is presented in the following tables:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(dollars in thousands) |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Net Sales (less intra-, inter-segment sales) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Energy Segment |  | $ | 36,182 |  |  | $ | 50,259 |  |  | $ | 114,681 |  |  | $ | 151,058 |
Environmental Segment |  |  | 29,735 |  |  |  | 36,606 |  |  |  | 103,543 |  |  |  | 119,939 |
Fluid Handling and Filtration Segment |  |  | 20,105 |  |  |  | 14,866 |  |  |  | 54,269 |  |  |  | 46,874 |
Corporate and Other(1) |  |  | (1,035 | ) |  |  | (135 | ) |  |  | (985 | ) |  |  | (842 | )
Net sales |  | $ | 84,987 |  |  | $ | 101,596 |  |  | $ | 271,508 |  |  | $ | 317,029 |
(1) | Includes adjustment for revenue on intercompany jobs.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(dollars in thousands) |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Income from Operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Energy Segment |  | $ | 5,287 |  |  | $ | 8,502 |  |  | $ | 14,428 |  |  | $ | 20,065 |
Environmental Segment |  |  | 2,157 |  |  |  | 5,459 |  |  |  | 12,043 |  |  |  | 16,324 |
Fluid Handling and Filtration Segment |  |  | 4,299 |  |  |  | 3,109 |  |  |  | 11,756 |  |  |  | 9,507 |
Corporate and Other(2) |  |  | (5,404 | ) |  |  | (6,520 | ) |  |  | (20,184 | ) |  |  | (20,058 | )
Eliminations |  |  | (709 | ) |  |  | (51 | ) |  |  | (1,808 | ) |  |  | (971 | )
Income from operations |  | $ | 5,630 |  |  | $ | 10,499 |  |  | $ | 16,235 |  |  | $ | 24,867 |
(2) | Includes corporate compensation, professional services, information technology, acquisition and integration expenses, and other general and administrative corporate expenses / income. This figure excludes earn-out expenses / income, which are recorded in the segment in which the expense / income occurs. See Note 7 for the earn-out expenses / income by segment.
Property and Equipment Additions, Depreciation and Amortization and Identifiable Assets |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(dollars in thousands) |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Property and Equipment Additions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Energy Segment |  | $ | 69 |  |  | $ | 4 |  |  | $ | 419 |  |  | $ | 232 |
Environmental Segment |  |  | 68 |  |  |  | 225 |  |  |  | 110 |  |  |  | 529 |
Fluid Handling and Filtration Segment(3) |  |  | 17 |  |  |  | 1,118 |  |  |  | 236 |  |  |  | 4,428 |
Corporate and Other |  |  | 11 |  |  |  | 1 |  |  |  | 41 |  |  |  | 7 |
Property and equipment additions |  | $ | 165 |  |  | $ | 1,348 |  |  | $ | 806 |  |  | $ | 5,196 |
(3) | Includes non-cash additions of $1,089 and $4,385 for property, plant, and equipment acquired under capital leases during the three months ended September 30, 2016 and nine months ended September 30, 2016, respectively.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(dollars in thousands) |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Depreciation and Amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Energy Segment |  | $ | 1,927 |  |  | $ | 2,341 |  |  | $ | 5,957 |  |  | $ | 8,082 |
Environmental Segment |  |  | 813 |  |  |  | 994 |  |  |  | 2,500 |  |  |  | 2,868 |
Fluid Handling and Filtration Segment |  |  | 1,168 |  |  |  | 1,321 |  |  |  | 3,563 |  |  |  | 3,969 |
Corporate and Other |  |  | 29 |  |  |  | 33 |  |  |  | 85 |  |  |  | 98 |
Depreciation and Amortization |  | $ | 3,937 |  |  | $ | 4,689 |  |  | $ | 12,105 |  |  | $ | 15,017 |
(dollars in thousands) |  | September 30, 2017 |  |  | December 31, 2016 |
Identifiable Assets |  |  |  |  |  |  |  |
Energy Segment |  | $ | 234,575 |  |  | $ | 257,566 |
Environmental Segment |  |  | 106,373 |  |  |  | 118,680 |
Fluid Handling and Filtration Segment |  |  | 102,485 |  |  |  | 104,294 |
Corporate and Other(4) |  |  | 12,110 |  |  |  | 18,094 |
Identifiable Assets |  | $ | 455,543 |  |  | $ | 498,634 |
(4) | Corporate assets primarily consist of cash and income tax related assets.
Goodwill |
(dollars in thousands) |  | September 30, 2017 |  |  | December 31, 2016 |
Goodwill |  |  |  |  |  |  |  |
Energy Segment |  | $ | 76,913 |  |  | $ | 75,827 |
Environmental Segment |  |  | 48,203 |  |  |  | 48,203 |
Fluid Handling and Filtration Segment |  |  | 46,123 |  |  |  | 46,123 |
Goodwill |  | $ | 171,239 |  |  | $ | 170,153 |
Intra-Segment and Inter-Segment Revenues | The Company has multiple divisions that sell to each other within segments (intra-segment sales) and between segments (inter-segment sales) as indicated in the following tables:
|  | Three Months Ended September 30, 2017 |
|  |  |  |  |  |  |  |  |  | Less Inter-Segment Sales |  |  |  |  |
(dollars in thousands) |  | Total Sales |  |  | Intra- Segment Sales |  |  | Environmental |  |  | Energy |  |  | FHF |  |  | Corp and Other |  |  | Net Sales to Outside Customers |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Energy Segment |  | $ | 37,290 |  |  | $ | (1,102 | ) |  | $ | (6 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 36,182 |
Environmental Segment |  |  | 30,138 |  |  |  | (396 | ) |  |  | — |  |  |  | (1 | ) |  |  | (6 | ) |  |  | — |  |  |  | 29,735 |
Fluid Handling and Filtration Segment |  |  | 20,768 |  |  |  | (570 | ) |  |  | (55 | ) |  |  | (38 | ) |  |  | — |  |  |  | — |  |  |  | 20,105 |
Corporate and Other(5) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,035 | ) |  |  | (1,035 | )
Net Sales |  | $ | 88,196 |  |  | $ | (2,068 | ) |  | $ | (61 | ) |  | $ | (39 | ) |  | $ | (6 | ) |  | $ | (1,035 | ) |  | $ | 84,987 |
|  | Three Months Ended September 30, 2016 |
|  |  |  |  |  |  |  |  |  | Less Inter-Segment Sales |  |  |  |  |
(dollars in thousands) |  | Total Sales |  |  | Intra- Segment Sales |  |  | Environmental |  |  | Energy |  |  | FHF |  |  | Corp and Other |  |  | Net Sales to Outside Customers |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Energy Segment |  | $ | 51,155 |  |  | $ | (874 | ) |  | $ | (22 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 50,259 |
Environmental Segment |  |  | 38,454 |  |  |  | (941 | ) |  |  | — |  |  |  | (878 | ) |  |  | (29 | ) |  |  | — |  |  |  | 36,606 |
Fluid Handling and Filtration Segment |  |  | 15,451 |  |  |  | (313 | ) |  |  | (88 | ) |  |  | (184 | ) |  |  | — |  |  |  | — |  |  |  | 14,866 |
Corporate and Other(5) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (135 | ) |  |  | (135 | )
Net Sales |  | $ | 105,060 |  |  | $ | (2,128 | ) |  | $ | (110 | ) |  | $ | (1,062 | ) |  | $ | (29 | ) |  | $ | (135 | ) |  | $ | 101,596 |
|  | Nine Months Ended September 30, 2017 |
|  |  |  |  |  |  |  |  |  | Less Inter-Segment Sales |  |  |  |  |
(dollars in thousands) |  | Total Sales |  |  | Intra- Segment Sales |  |  | Environmental |  |  | Energy |  |  | FHF |  |  | Corp and Other |  |  | Net Sales to Outside Customers |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Energy Segment |  | $ | 120,958 |  |  | $ | (6,249 | ) |  | $ | (28 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 114,681 |
Environmental Segment |  |  | 106,404 |  |  |  | (2,086 | ) |  |  | — |  |  |  | (730 | ) |  |  | (45 | ) |  |  | — |  |  |  | 103,543 |
Fluid Handling and Filtration Segment |  |  | 56,620 |  |  |  | (1,727 | ) |  |  | (477 | ) |  |  | (147 | ) |  |  | — |  |  |  | — |  |  |  | 54,269 |
Corporate and Other(5) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (985 | ) |  |  | (985 | )
Net Sales |  | $ | 283,982 |  |  | $ | (10,062 | ) |  | $ | (505 | ) |  | $ | (877 | ) |  | $ | (45 | ) |  | $ | (985 | ) |  | $ | 271,508 |
|  | Nine Months Ended September 30, 2016 |
|  |  |  |  |  |  |  |  |  | Less Inter-Segment Sales |  |  |  |  |
(dollars in thousands) |  | Total Sales |  |  | Intra- Segment Sales |  |  | Environmental |  |  | Energy |  |  | FHF |  |  | Corp and Other |  |  | Net Sales to Outside Customers |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Energy Segment |  | $ | 153,476 |  |  | $ | (2,019 | ) |  | $ | (399 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 151,058 |
Environmental Segment |  |  | 126,029 |  |  |  | (3,539 | ) |  |  | — |  |  |  | (2,345 | ) |  |  | (206 | ) |  |  | — |  |  |  | 119,939 |
Fluid Handling and Filtration Segment |  |  | 48,508 |  |  |  | (1,168 | ) |  |  | (282 | ) |  |  | (184 | ) |  |  | — |  |  |  | — |  |  |  | 46,874 |
Corporate and Other(5) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (842 | ) |  |  | (842 | )
Net Sales |  | $ | 328,013 |  |  | $ | (6,726 | ) |  | $ | (681 | ) |  | $ | (2,529 | ) |  | $ | (206 | ) |  | $ | (842 | ) |  | $ | 317,029 |
(5) | Includes adjustment for revenue on intercompany jobs.

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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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