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Business Segment Information (Tables)
12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Net Sales and Income from Operation by Business Segment

 

(table only in thousands)

 

2021

 

 

2020

 

 

2019

 

Net Sales (less intra-, inter-segment sales)

 

 

 

 

 

 

 

 

 

Engineered Systems segment

 

$

186,926

 

 

$

205,494

 

 

$

210,319

 

Industrial Process Solutions segment

 

 

137,214

 

 

 

110,517

 

 

 

131,550

 

Net sales

 

$

324,140

 

 

$

316,011

 

 

$

341,869

 

 

(table only in thousands)

 

2021

 

 

2020

 

 

2019

 

Income from Operations

 

 

 

 

 

 

 

 

 

Engineered Systems segment

 

$

25,770

 

 

$

34,170

 

 

$

33,886

 

Industrial Process Solutions segment

 

 

15,054

 

 

 

7,220

 

 

 

11,237

 

Corporate and Other (1)

 

 

(30,967

)

 

 

(28,044

)

 

 

(27,133

)

Income from operations

 

$

9,857

 

 

$

13,346

 

 

$

17,990

 

(1)
Includes corporate compensation, professional services, information technology, acquisition and integration expenses, and other general, administrative corporate expenses and loss on divestitures.
Property and Equipment Additions, Depreciation and Amortization and Identifiable Assets

(table only in thousands)

 

2021

 

 

2020

 

 

2019

 

Property and Equipment Additions

 

 

 

 

 

 

 

 

 

Engineered Systems segment

 

$

100

 

 

$

550

 

 

$

434

 

Industrial Process Solutions segment

 

 

721

 

 

 

1,349

 

 

 

3,641

 

Corporate and Other

 

 

1,795

 

 

 

2,046

 

 

 

1,580

 

Property and equipment additions

 

$

2,616

 

 

$

3,945

 

 

$

5,655

 

 

(table only in thousands)

 

2021

 

 

2020

 

 

2019

 

Depreciation and Amortization

 

 

 

 

 

 

 

 

 

Engineered Systems segment

 

$

4,249

 

 

$

4,957

 

 

$

6,084

 

Industrial Process Solutions segment

 

 

4,299

 

 

 

4,199

 

 

 

4,115

 

Corporate and Other

 

 

1,305

 

 

 

765

 

 

 

410

 

Depreciation and amortization

 

$

9,853

 

 

$

9,921

 

 

$

10,609

 

 

 

 

December 31,

 

(table only in thousands)

 

2021

 

 

2020

 

Identifiable Assets

 

 

 

 

 

 

Engineered Systems segment

 

$

262,558

 

 

$

270,573

 

Industrial Process Solutions segment

 

 

141,975

 

 

 

135,204

 

Corporate and Other (2)

 

 

11,664

 

 

 

13,537

 

Identifiable assets

 

$

416,197

 

 

$

419,314

 

 

 

 

 

 

 

 

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

 

 

December 31,

 

(table only in thousands)

 

2021

 

 

2020

 

Goodwill

 

 

 

 

 

 

Engineered Systems segment

 

$

99,303

 

 

$

99,785

 

Industrial Process Solutions segment

 

 

61,880

 

 

 

62,035

 

Goodwill

 

$

161,183

 

 

$

161,820

 

 

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, 2021

 

 

 

 

 

 

 

 

 

Less Inter-Segment Sales

 

 

(table only in thousands)

 

Total Sales

 

 

Intra-Segment
Sales

 

 

Industrial Process Solutions

 

 

Engineered Systems

 

 

Net Sales to
Outside
Customers

 

Net Sales

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Engineered Systems segment

 

$

197,380

 

 

$

(9,483

)

 

$

(971

)

 

$

 

 

$

186,926

 

Industrial Process Solutions segment

 

 

152,886

 

 

 

(14,533

)

 

 

 

 

 

(1,139

)

 

 

137,214

 

Net Sales

 

$

350,266

 

 

$

(24,016

)

 

$

(971

)

 

$

(1,139

)

 

$

324,140

 

 

 

 

Year Ended December 31, 2020

 

 

 

 

 

 

 

 

 

Less Inter-Segment Sales

 

 

(table only in thousands)

 

Total Sales

 

 

Intra-Segment
Sales

 

 

Industrial Process Solutions

 

 

Engineered Systems

 

 

Net Sales to
Outside
Customers

 

Net Sales

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Engineered Systems segment

 

$

218,290

 

 

$

(11,333

)

 

$

(1,463

)

 

$

 

 

$

205,494

 

Industrial Process Solutions segment

 

 

124,547

 

 

 

(12,798

)

 

 

 

 

 

(1,232

)

 

 

110,517

 

Net Sales

 

$

342,837

 

 

$

(24,131

)

 

$

(1,463

)

 

$

(1,232

)

 

$

316,011

 

 

 

 

Year Ended December 31, 2019

 

 

 

 

 

 

 

 

 

Less Inter-Segment Sales

 

 

(table only in thousands)

 

Total Sales

 

 

Intra-Segment
Sales

 

 

Industrial Process Solutions

 

 

Engineered Systems

 

 

Net Sales to
Outside
Customers

 

Net Sales

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Engineered Systems segment

 

$

217,359

 

 

$

(6,650

)

 

$

(390

)

 

$

 

 

$

210,319

 

Industrial Process Solutions segment

 

 

143,086

 

 

 

(9,859

)

 

 

 

 

 

(1,677

)

 

 

131,550

 

Net Sales

 

$

360,445

 

 

$

(16,509

)

 

$

(390

)

 

$

(1,677

)

 

$

341,869