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Business Segment Information | 12 Months Ended
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Dec. 31, 2017
Segment Reporting [Abstract] |
Business Segment Information |
18. | Business Segment Information
The Company’s operations are organized and reviewed by management along its product lines or end market that the segment serves and are presented in three reportable segments. The results of the segments are reviewed through to the “Income (loss) from operations” line on the Consolidated Statements of Operations. The accounting policies of the segments are the same as those in the consolidated financial statements. Except for the information reported on a segment basis, the Company does not accumulate net sales information by product or service and therefore, the Company does not disclose net sales by product or service because to do so would be impractical. The Company’s reportable segments are however organized as groups of similar products and services, defined as follows: Energy Segment Our Energy segment provides customized solutions for the power and petrochemical industry. This includes gas turbine exhaust systems, dampers and diverters, gas and liquid separation and filtration equipment, selective catalytic reduction (“SCR”) and selective non-catalytic reduction (“SNCR”) systems, acoustical components and silencers, secondary separators (nuclear plant reactor vessels) and expansion joints, the design and manufacture of technologies for flue gas and diverter dampers, non-metallic expansion joints, natural gas turbine exhaust systems, and silencer and precipitator applications, primarily for coal-fired and natural gas power plants, refining, oil production and petrochemical processing, as well as a variety of other industries. Environmental Segment Our Environmental segment provides the design and manufacture of product recovery and air pollution control technologies that enable our customers to meet compliance targets for toxic emissions, fumes, volatile organic compounds, process and industrial odors. These products and solutions include high efficiency and fluid catalytic cracking cyclone systems, scrubbers, regenerative thermal and catalytic oxidizers, dust collectors and baghouses, standard and engineered industrial ducting, fabric filters and cartridge collectors, ventilation and exhaust systems for emissions and contaminants, and process cooling systems for steel in rolling mills. This segment also provides component parts for industrial air systems and provides cost effective alternatives to traditional duct components, as well as custom metal engineered fabrication services. These products and services are applicable to a wide variety of industries. Fluid Handling and Filtration Segment Our Fluid Handling and Filtration segment provides the design and manufacture of high quality pump, filtration and fume exhaust solutions. This includes centrifugal pumps for corrosive, abrasive and high temperature liquids, filter products for air and liquid filtration, precious metal recovery systems, carbonate precipitators, and technologically advanced air movement and exhaust systems. These products are applicable to a wide variety of industries, particularly the aquarium/aquaculture, plating and metal finishing, food and beverage, chemical/petrochemical, wastewater treatment, desalination and pharmaceutical markets.
|  | 2017 |  |  | 2016 |  |  | 2015 |
Net Sales (less intra-, inter-segment sales) |  |  |  |  |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Energy Segment |  | $ | 149,514 |  |  | $ | 203,376 |  |  | $ | 142,150 |
Environmental Segment |  |  | 127,279 |  |  |  | 153,344 |  |  |  | 158,371 |
Fluid Handling and Filtration Segment |  |  | 69,159 |  |  |  | 61,783 |  |  |  | 67,610 |
Corporate and Other (1) |  |  | (901 | ) |  |  | (1,492 | ) |  |  | (709 | )
Net sales |  | $ | 345,051 |  |  | $ | 417,011 |  |  | $ | 367,422 |
(1) | Includes adjustment for revenue on intercompany jobs.
|  | 2017 |  |  | 2016 |  |  | 2015 |
Income (loss) from Operations |  |  |  |  |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Energy Segment |  | $ | 8,987 |  |  | $ | 23,575 |  |  | $ | 3,488 |
Environmental Segment |  |  | 13,703 |  |  |  | 15,652 |  |  |  | 17,021 |
Fluid Handling and Filtration Segment |  |  | 14,734 |  |  |  | (36,209 | ) |  |  | 11,741 |
Corporate and Other (2) |  |  | (26,649 | ) |  |  | (26,981 | ) |  |  | (26,592 | )
Eliminations |  |  | (2,751 | ) |  |  | (1,599 | ) |  |  | (709 | )
Income (loss) from operations |  | $ | 8,024 |  |  | $ | (25,562 | ) |  | $ | 4,949 |
(2) | Includes corporate compensation, professional services, information technology, acquisition and integration expenses, and other general and administrative corporate expenses.
|  | 2017 |  |  | 2016 |  |  | 2015 |
Property and Equipment Additions |  |  |  |  |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Energy Segment |  | $ | 438 |  |  | $ | 569 |  |  | $ | 429 |
Environmental Segment |  |  | 166 |  |  |  | 404 |  |  |  | 166 |
Fluid Handling and Filtration Segment (3) |  |  | 382 |  |  |  | 4,481 |  |  |  | 150 |
Corporate and Other |  |  | 42 |  |  |  | 7 |  |  |  | 18 |
Property and equipment additions |  | $ | 1,028 |  |  | $ | 5,461 |  |  | $ | 763 |
(3)Includes non-cash additions of $4,385 for property, plant, and equipment acquired under capital leases for the year ended December 31, 2016. See Note 12 for further detail.
|  | 2017 |  |  | 2016 |  |  | 2015 |
Depreciation and Amortization |  |  |  |  |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Energy Segment |  | $ | 7,866 |  |  | $ | 9,555 |  |  | $ | 5,293 |
Environmental Segment |  |  | 3,297 |  |  |  | 3,816 |  |  |  | 4,443 |
Fluid Handling and Filtration Segment |  |  | 4,754 |  |  |  | 5,406 |  |  |  | 6,331 |
Corporate and Other |  |  | 171 |  |  |  | 126 |  |  |  | 453 |
Depreciation and amortization |  | $ | 16,088 |  |  | $ | 18,903 |  |  | $ | 16,520 |
|  | December 31, |
|  | 2017 |  |  | 2016 |
Identifiable Assets |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |
Energy Segment |  | $ | 217,033 |  |  | $ | 257,566 |
Environmental Segment |  |  | 107,910 |  |  |  | 118,680 |
Fluid Handling and Filtration Segment |  |  | 100,916 |  |  |  | 104,294 |
Corporate and Other (4) |  |  | 12,690 |  |  |  | 18,094 |
Identifiable assets |  | $ | 438,549 |  |  | $ | 498,634 |
(4) | Corporate assets primarily consist of cash and income tax related assets.
|  | December 31, |
|  | 2017 |  |  | 2016 |
Goodwill |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |
Energy Segment |  | $ | 72,625 |  |  | $ | 75,827 |
Environmental Segment |  |  | 48,203 |  |  |  | 48,203 |
Fluid Handling and Filtration Segment |  |  | 46,123 |  |  |  | 46,123 |
Goodwill |  | $ | 166,951 |  |  | $ | 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:
|  | Year Ended December 31, 2017 |
|  |  |  |  |  |  |  |  |  | Less Inter-Segment Sales |  |  |  |  |
|  | Total Sales |  |  | Intra - Segment Sales |  |  | Environmental |  |  | Energy |  |  | FHF |  |  | Corp and Other |  |  | Net Sales to Outside Customers |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Energy Segment |  | $ | 158,456 |  |  | $ | (8,834 | ) |  | $ | (108 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 149,514 |
Environmental Segment |  |  | 131,356 |  |  |  | (3,235 | ) |  |  | — |  |  |  | (787 | ) |  |  | (55 | ) |  |  | — |  |  |  | 127,279 |
Fluid Handling and Filtration Segment |  |  | 73,652 |  |  |  | (3,169 | ) |  |  | (493 | ) |  |  | (832 | ) |  |  | — |  |  |  | — |  |  |  | 69,159 |
Corporate and Other (5) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (901 | ) |  |  | (901 | )
Net Sales |  | $ | 363,464 |  |  | $ | (15,238 | ) |  | $ | (601 | ) |  | $ | (1,619 | ) |  | $ | (55 | ) |  | $ | (901 | ) |  | $ | 345,051 |
|  | Year Ended December 31, 2016 |
|  |  |  |  |  |  |  |  |  | Less Inter-Segment Sales |  |  |  |  |
|  | Total Sales |  |  | Intra - Segment Sales |  |  | Environmental |  |  | Energy |  |  | FHF |  |  | Corp and Other |  |  | Net Sales to Outside Customers |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Energy Segment |  | $ | 207,280 |  |  | $ | (3,506 | ) |  | $ | (398 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 203,376 |
Environmental Segment |  |  | 160,959 |  |  |  | (4,256 | ) |  |  | — |  |  |  | (3,153 | ) |  |  | (206 | ) |  |  | — |  |  |  | 153,344 |
Fluid Handling and Filtration Segment |  |  | 64,327 |  |  |  | (1,714 | ) |  |  | (317 | ) |  |  | (513 | ) |  |  | — |  |  |  | — |  |  |  | 61,783 |
Corporate and Other (5) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,492 | ) |  |  | (1,492 | )
Net Sales |  | $ | 432,566 |  |  | $ | (9,476 | ) |  | $ | (715 | ) |  | $ | (3,666 | ) |  | $ | (206 | ) |  | $ | (1,492 | ) |  | $ | 417,011 |
|  | Year Ended December 31, 2015 |
|  |  |  |  |  |  |  |  |  | Less Inter-Segment Sales |  |  |  |  |
|  | Total Sales |  |  | Intra - Segment Sales |  |  | Environmental |  |  | Energy |  |  | FHF |  |  | Corp and Other |  |  | Net Sales to Outside Customers |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Energy Segment |  | $ | 147,661 |  |  | $ | (4,876 | ) |  | $ | (635 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 142,150 |
Environmental Segment |  |  | 167,247 |  |  |  | (6,744 | ) |  |  | — |  |  |  | (1,937 | ) |  |  | (195 | ) |  |  | — |  |  |  | 158,371 |
Fluid Handling and Filtration Segment |  |  | 70,084 |  |  |  | (2,277 | ) |  |  | (197 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 67,610 |
Corporate and Other (5) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (709 | ) |  |  | (709 | )
Net Sales |  | $ | 384,992 |  |  | $ | (13,897 | ) |  | $ | (832 | ) |  | $ | (1,937 | ) |  | $ | (195 | ) |  | $ | (709 | ) |  | $ | 367,422 |
(5) | Includes adjustment for revenue on intercompany jobs.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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