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Business Segment Information (Tables)

9 Months Ended

Sep. 30, 2021

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)		2021				2020				2021				2020
Net sales (less intra-, inter-segment sales)
Engineered Systems segment		$	44,779			$	49,709			$	130,196			$	149,429
Industrial Process Solutions segment			35,200				27,716				100,355				83,652
Net sales		$	79,979			$	77,425			$	230,551			$	233,081

		Three months ended September 30,								Nine months ended September 30,
(dollars in thousands)		2021				2020				2021				2020
(Loss) income from operations
Engineered Systems segment		$	4,301			$	7,276			$	16,105			$	24,479
Industrial Process Solutions segment			2,669				1,539				10,932				6,471
Corporate and Other(1)			(7,566	)			(7,797	)			(22,434	)			(21,299	)
(Loss) income from operations		$	(596	)		$	1,018			$	4,603			$	9,651

(1)Includes corporate compensation, professional services, information technology, and other general and administrative corporate expenses.

Property and Equipment Additions, Depreciation and Amortization and Identifiable Assets

		Three months ended September 30,								Nine months ended September 30,
(dollars in thousands)		2021				2020				2021				2020
Property and equipment additions
Engineered Systems segment		$	15			$	148			$	79			$	446
Industrial Process Solutions segment			241				132				603				901
Corporate and Other			487				603				1,058				1,528
Property and equipment additions		$	743			$	883			$	1,740			$	2,875

		Three months ended September 30,								Nine months ended September 30,
(dollars in thousands)		2021				2020				2021				2020
Depreciation and amortization
Engineered Systems segment		$	1,061			$	1,245			$	3,198			$	3,690
Industrial Process Solutions segment			1,070				1,154				3,212				3,065
Corporate and Other			336				177				963				469
Depreciation and amortization		$	2,467			$	2,576			$	7,373			$	7,224

(dollars in thousands)		September 30, 2021				December 31, 2020
Identifiable assets
Engineered Systems segment		$	260,603			$	270,573
Industrial Process Solutions segment			147,869				135,204
Corporate and Other(2)			10,204				13,537
Identifiable assets		$	418,676			$	419,314

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

Goodwill

(dollars in thousands)		September 30, 2021				December 31, 2020
Goodwill
Engineered Systems segment		$	99,558			$	99,785
Industrial Process Solutions segment			62,035				62,035
Goodwill		$	161,593			$	161,820

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, 2021
										Less Inter-Segment Sales
(dollars in thousands)		Total Sales				Intra- Segment Sales				Industrial Process Solutions				Engineered Systems				Net Sales to Outside Customers
Net sales
Engineered Systems segment		$	45,559			$	(472	)		$	(308	)		$	—			$	44,779
Industrial Process Solutions segment			35,525				(308	)			—				(17	)			35,200
Net sales		$	81,084			$	(780	)		$	(308	)		$	(17	)		$	79,979

		Three months ended September 30, 2020
										Less Inter-Segment Sales
(dollars in thousands)		Total Sales				Intra- Segment Sales				Industrial Process Solutions				Engineered Systems				Net Sales to Outside Customers
Net sales
Engineered Systems segment		$	51,203			$	(1,071	)		$	(423	)		$	—			$	49,709
Industrial Process Solutions segment			30,944				(3,117	)			—				(111	)			27,716
Net sales		$	82,147			$	(4,188	)		$	(423	)		$	(111	)		$	77,425

		Nine months ended September 30, 2021
										Less Inter-Segment Sales
(dollars in thousands)		Total Sales				Intra- Segment Sales				Industrial Process Solutions				Engineered Systems				Net Sales to Outside Customers
Net sales
Engineered Systems segment		$	137,104			$	(6,359	)		$	(549	)		$	—			$	130,196
Industrial Process Solutions segment			109,703				(8,363	)			—				(985	)			100,355
Net sales		$	246,807			$	(14,722	)		$	(549	)		$	(985	)		$	230,551

		Nine months ended September 30, 2020
										Less Inter-Segment Sales
(dollars in thousands)		Total Sales				Intra- Segment Sales				Industrial Process Solutions				Engineered Systems				Net Sales to Outside Customers
Net sales
Engineered Systems segment		$	159,181			$	(8,861	)		$	(891	)		$	—			$	149,429
Industrial Process Solutions segment			95,272				(10,718	)			—				(902	)			83,652
Net sales		$	254,453			$	(19,579	)		$	(891	)		$	(902	)		$	233,081

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