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Business Segment Information (Tables)

9 Months Ended

Sep. 30, 2019

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)		2019				2018				2019				2018
Net Sales (less intra-, inter-segment sales)
Energy Solutions Segment		$	48,847			$	56,552			$	154,606			$	147,661
Industrial Solutions Segment			26,983				21,868				65,920				59,833
Fluid Handling Solutions Segment			9,436				9,836				31,930				35,991
Net sales		$	85,266			$	88,256			$	252,456			$	243,485

		Three months ended September 30,								Nine months ended September 30,
(dollars in thousands)		2019				2018				2019				2018
Income (loss) from Operations
Energy Solutions Segment		$	7,633			$	8,157			$	23,275			$	17,682
Industrial Solutions Segment			2,794				2,091				3,911				4,769
Fluid Handling Solutions Segment			818				1,388				4,657				6,744
Corporate and Other(1)			(7,186	)			(22,666	)			(20,878	)			(24,691	)
Eliminations			—				589				—				(232	)
Income (loss) from operations		$	4,059			$	(10,441	)		$	10,965			$	4,272

⁽¹⁾ Includes gain (loss) on divestitures, net of selling costs (see Note 17 – Divestitures), corporate compensation, professional services, information technology, and other general and administrative corporate expenses.  This figure excludes earnout expenses, which are recorded in the segment in which the expense occurs.  

Property and Equipment Additions, Depreciation and Amortization and Identifiable Assets

		Three months ended September 30,								Nine months ended September 30,
(dollars in thousands)		2019				2018				2019				2018
Property and Equipment Additions
Energy Solutions Segment		$	57			$	6			$	218			$	38
Industrial Solutions Segment			59				533				222				697
Fluid Handling Solutions Segment			2,135				767				2,624				1,051
Corporate and Other			293				—				682				111
Property and equipment additions		$	2,544			$	1,306			$	3,746			$	1,897

		Three months ended September 30,								Nine months ended September 30,
(dollars in thousands)		2019				2018				2019				2018
Depreciation and Amortization
Energy Solutions Segment		$	1,544			$	2,379			$	4,684			$	6,286
Industrial Solutions Segment			327				361				998				803
Fluid Handling Solutions Segment			668				1,168				2,140				2,675
Corporate and Other			94				29				331				333
Depreciation and amortization		$	2,633			$	3,937			$	8,153			$	10,097

(dollars in thousands)		September 30, 2019				December 31, 2018
Identifiable Assets
Energy Solutions Segment		$	246,630			$	245,842
Industrial Solutions Segment			58,250				55,582
Fluid Handling Solutions Segment			71,778				72,507
Corporate and Other(2)			12,982				18,651
Identifiable assets		$	389,640			$	392,582

⁽²⁾ Corporate and Other assets consist primarily of cash and income tax related assets.

Goodwill

(dollars in thousands)		September 30, 2019				December 31, 2018
Goodwill
Energy Solutions Segment		$	96,956			$	97,143
Industrial Solutions Segment			23,436				23,436
Fluid Handling Solutions Segment			31,577				31,577
Goodwill		$	151,969			$	152,156

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, 2019
														Less Inter-Segment Sales
(dollars in thousands)		Total Sales						Intra- Segment Sales						Industrial						Energy						Fluid				Net Sales to Outside Customers
Net Sales
Energy Solutions Segment		$	51,083					$	(2,134	)				$	(102	)				$	—					$	—			$	48,847
Industrial Solutions Segment			29,269						(2,227	)					—						(59	)					—				26,983
Fluid Handling Solutions Segment			9,823						(362	)					(25	)					—						—				9,436
Net Sales		$	90,175					$	(4,723	)				$	(127	)				$	(59	)				$	—			$	85,266

		Three months ended September 30, 2018
														Less Inter-Segment Sales
(dollars in thousands)		Total Sales						Intra- Segment Sales						Industrial						Energy						Fluid				Net Sales to Outside Customers
Net Sales
Energy Solutions Segment		$	58,561					$	(1,453	)				$	(556	)				$	—					$	—			$	56,552
Industrial Solutions Segment			22,409						(573	)					—						73						(41	)			21,868
Fluid Handling Solutions Segment			10,226						(399	)					16						(7	)					—				9,836
Net Sales		$	91,196					$	(2,425	)				$	(540	)				$	66					$	(41	)		$	88,256

		Nine months ended September 30, 2019
														Less Inter-Segment Sales
(dollars in thousands)		Total Sales						Intra- Segment Sales						Industrial						Energy						Fluid				Net Sales to Outside Customers
Net Sales
Energy Solutions Segment		$	158,888					$	(3,998	)				$	(272	)				$	—					$	(12	)		$	154,606
Industrial Solutions Segment			73,794						(6,204	)					—						(1,617	)					(53	)			65,920
Fluid Handling Solutions Segment			33,189						(1,096	)					(163	)					—						—				31,930
Net Sales		$	265,871					$	(11,298	)				$	(435	)				$	(1,617	)				$	(65	)		$	252,456

		Nine months ended September 30, 2018
														Less Inter-Segment Sales
(dollars in thousands)		Total Sales						Intra- Segment Sales						Industrial						Energy						Fluid				Net Sales to Outside Customers
Net Sales
Energy Solutions Segment		$	155,011					$	(5,851	)				$	(1,494	)				$	—					$	(5	)		$	147,661
Industrial Solutions Segment			62,652						(2,178	)					—						(600	)					(41	)		$	59,833
Fluid Handling Solutions Segment			37,557						(1,208	)					(351	)					(7	)					—			$	35,991
Net Sales		$	255,220					$	(9,237	)				$	(1,845	)				$	(607	)				$	(46	)		$	243,485

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