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Business Segment Information | 12 Months Ended
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Dec. 31, 2018
Segment Reporting [Abstract] |
Business Segment Information |
1 8. | 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. During the first quarter of 2018, the Company finalized an overall assessment and recalibration of its strategy. As a part of the changes to its strategy, management determined that a realignment of the Company’s segments was necessary to better reflect the technologies and solutions we provide, and the end markets we serve. As a result of this realignment, the reportable segments of the Company have been renamed and we reclassified the operating results of certain business units within the Energy Solutions and Industrial Solutions segments to have their reportable segment more closely align with our strategy. We have reclassified all prior year amounts to reflect the new segment structure. The Company’s reportable segments are organized as groups of similar products and services, as described as follows:
| • | Energy Solutions segment: Our Energy Solutions segment serves the Energy market, where we are a key part of helping meet the global demand for Clean Energy with products and services that support our customers with efficient solutions and technologies to keep the world clean and safe. Our offerings improve air quality and solves fluid handling needs with market leading, highly engineered, and customized solutions for the power generation, oil & gas, and petrochemical industries.
| • | Industrial Solutions segment: Our Industrial Solutions segment serves the Industrial Pollution Control market where our aim is to address the growing need to protect the air we breathe and help our customers’ desires for sustainability upgrades beyond carbon footprint issues. Our offerings improve air quality with a compelling solution set of air pollution control technologies that enable our customers to reduce their carbon footprint, lower energy consumption, minimize waste and meet compliance targets for toxic emissions, fumes, volatile organic compounds, and industrial odors.
| • | Fluid Handling Solutions segment: Our Fluid Handling Solutions segment offers unique pump and filtration solutions that maintain safe and clean operations in some of the most harsh and toxic environments. In this market, we provide solutions for mission-critical applications to a wide variety of industries including, but not limited to, plating and metal finishing, food and beverage, chemical, petrochemical, pharmaceutical, wastewater treatment, desalination and the aquarium & aquaculture markets.
|  | 2018 |  |  | 2017 |  |  | 2016 |
Net Sales (less intra-, inter-segment sales) |  |  |  |  |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Energy Solutions segment |  | $ | 211,185 |  |  | $ | 188,955 |  |  | $ | 254,806 |
Industrial Solutions segment |  |  | 75,414 |  |  |  | 87,838 |  |  |  | 101,909 |
Fluid Handling Solutions segment |  |  | 50,740 |  |  |  | 69,159 |  |  |  | 61,788 |
Corporate and Other (1) |  |  | — |  |  |  | (901 | ) |  |  | (1,492 | )
Net sales |  | $ | 337,339 |  |  | $ | 345,051 |  |  | $ | 417,011 |
(1) | Includes adjustment for revenue on intercompany jobs.
|  | 2018 |  |  | 2017 |  |  | 2016 |
Income (loss) from Operations |  |  |  |  |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Energy Solutions segment |  | $ | 28,398 |  |  | $ | 14,565 |  |  | $ | 30,582 |
Industrial Solutions segment |  |  | 5,635 |  |  |  | 8,123 |  |  |  | 8,481 |
Fluid Handling Solutions segment |  |  | 8,402 |  |  |  | 14,736 |  |  |  | (36,209 | )
Corporate and Other (2) |  |  | (32,433 | ) |  |  | (26,649 | ) |  |  | (26,817 | )
Eliminations |  |  | — |  |  |  | (2,751 | ) |  |  | (1,599 | )
Income (loss) from operations |  | $ | 10,002 |  |  | $ | 8,024 |  |  | $ | (25,562 | )
(2)Includes corporate compensation, professional services, information technology, acquisition and integration expenses, and other general, administrative corporate expenses and loss on divestitures
|  | 2018 |  |  | 2017 |  |  | 2016 |
Property and Equipment Additions |  |  |  |  |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Energy Solutions segment |  | $ | 205 |  |  | $ | 444 |  |  | $ | 672 |
Industrial Solutions segment |  |  | 756 |  |  |  | 160 |  |  |  | 301 |
Fluid Handling Solutions segment (3) |  |  | 1,226 |  |  |  | 382 |  |  |  | 4,481 |
Corporate and Other |  |  | 903 |  |  |  | 42 |  |  |  | 7 |
Property and equipment additions |  | $ | 3,090 |  |  | $ | 1,028 |  |  | $ | 5,461 |
(3) | Includes non-cash additions of $4,385 for property, plant, and equipment acquired under capital leases for 2016. See Note 12 for further detail.
|  | 2018 |  |  | 2017 |  |  | 2016 |
Depreciation and Amortization |  |  |  |  |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Energy Solutions segment |  | $ | 8,112 |  |  | $ | 9,675 |  |  | $ | 11,557 |
Industrial Solutions segment |  |  | 1,067 |  |  |  | 1,488 |  |  |  | 1,814 |
Fluid Handling Solutions segment |  |  | 3,517 |  |  |  | 4,754 |  |  |  | 5,406 |
Corporate and Other |  |  | 576 |  |  |  | 171 |  |  |  | 126 |
Depreciation and amortization |  | $ | 13,272 |  |  | $ | 16,088 |  |  | $ | 18,903 |
|  | December 31, |
|  | 2018 |  |  | 2017 |
Identifiable Assets |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |
Energy Solutions segment |  | $ | 245,842 |  |  | $ | 258,218 |
Industrial Solutions segment |  |  | 54,179 |  |  |  | 66,723 |
Fluid Handling Solutions segment |  |  | 73,910 |  |  |  | 100,917 |
Corporate and Other (4) |  |  | 18,651 |  |  |  | 12,691 |
Identifiable assets |  | $ | 392,582 |  |  | $ | 438,549 |
(4) | Corporate assets primarily consist of cash and income tax related assets.
|  | December 31, |
|  | 2018 |  |  | 2017 |
Goodwill |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |
Energy Solutions segment |  | $ | 97,930 |  |  | $ | 98,408 |
Industrial Solutions segment |  |  | 22,419 |  |  |  | 22,419 |
Fluid Handling Solutions segment |  |  | 31,807 |  |  |  | 46,124 |
Goodwill |  | $ | 152,156 |  |  | $ | 166,951 |
Intra-segment and Inter-segment Revenues The Company has 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, 2018 |
|  |  |  |  |  |  |  |  |  | Less Inter-Segment Sales |  |  |  |  |
|  | Total Sales |  |  | Intra - Segment Sales |  |  | Industrial |  |  | Energy |  |  | Fluid |  |  | Corp and Other |  |  | Net Sales to Outside Customers |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Energy Solutions segment |  | $ | 220,334 |  |  | $ | (7,912 | ) |  | $ | (1,232 | ) |  | $ | — |  |  | $ | (5 | ) |  | $ | — |  |  | $ | 211,185 |
Industrial Solutions segment |  |  | 79,139 |  |  |  | (3,084 | ) |  |  | — |  |  |  | (600 | ) |  |  | (41 | ) |  |  | — |  |  |  | 75,414 |
Fluid Handling Solutions segment |  |  | 52,846 |  |  |  | (1,483 | ) |  |  | (616 | ) |  |  | (7 | ) |  |  | — |  |  |  | — |  |  |  | 50,740 |
Corporate and Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net Sales |  | $ | 352,319 |  |  | $ | (12,479 | ) |  | $ | (1,848 | ) |  | $ | (607 | ) |  | $ | (46 | ) |  | $ | — |  |  | $ | 337,339 |
|  | Year Ended December 31, 2017 |
|  |  |  |  |  |  |  |  |  | Less Inter-Segment Sales |  |  |  |  |
|  | Total Sales |  |  | Intra - Segment Sales |  |  | Industrial |  |  | Energy |  |  | Fluid |  |  | Corp and Other |  |  | Net Sales to Outside Customers |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Energy Solutions segment |  | $ | 197,897 |  |  | $ | (8,833 | ) |  | $ | (109 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 188,955 |
Industrial Solutions segment |  |  | 91,915 |  |  |  | (3,235 | ) |  |  | — |  |  |  | (787 | ) |  |  | (55 | ) |  |  | — |  |  |  | 87,838 |
Fluid Handling Solutions segment |  |  | 73,652 |  |  |  | (3,169 | ) |  |  | (492 | ) |  |  | (832 | ) |  |  | — |  |  |  | — |  |  |  | 69,159 |
Corporate and Other (5) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (901 | ) |  |  | (901 | )
Net Sales |  | $ | 363,464 |  |  | $ | (15,237 | ) |  | $ | (601 | ) |  | $ | (1,619 | ) |  | $ | (55 | ) |  | $ | (901 | ) |  | $ | 345,051 |
|  | Year Ended December 31, 2016 |
|  |  |  |  |  |  |  |  |  | Less Inter-Segment Sales |  |  |  |  |
|  | Total Sales |  |  | Intra - Segment Sales |  |  | Industrial |  |  | Energy |  |  | Fluid |  |  | Corp and Other |  |  | Net Sales to Outside Customers |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Table only in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Energy Solutions segment |  | $ | 258,710 |  |  | $ | (3,506 | ) |  | $ | (398 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 254,806 |
Industrial Solutions segment |  |  | 109,524 |  |  |  | (4,256 | ) |  |  | — |  |  |  | (3,153 | ) |  |  | (206 | ) |  |  | — |  |  |  | 101,909 |
Fluid Handling Solutions segment |  |  | 64,332 |  |  |  | (1,714 | ) |  |  | (317 | ) |  |  | (513 | ) |  |  | — |  |  |  | — |  |  |  | 61,788 |
Corporate and Other (5) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,492 | ) |  |  | (1,492 | )
Net Sales |  | $ | 432,566 |  |  | $ | (9,476 | ) |  | $ | (715 | ) |  | $ | (3,666 | ) |  | $ | (206 | ) |  | $ | (1,492 | ) |  | $ | 417,011 |
| (5) | Includes adjustment for revenue on intercompany jobs.
No single customer represented greater than 10% of consolidated net sales or accounts receivable for 2018, 2017, or 2016. For 2018, 2017, and 2016, sales to customers outside the United States, including export sales, accounted for approximately 33%, 32%, and 37%, respectively, of consolidated net sales. The largest portion of export sales in 2018 was destined for Asia (11.5%), Europe (11.0%), and Middle East and Africa (6.2%). Of consolidated long-lived assets, $19.1 million and $29.7 million were located outside of the United States as of December 31, 2018 and 2017, respectively. The largest portion of long-lived assets located outside the United States at December 31, 2018 were in Europe ($14.5 million).

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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