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Segment Information
9 Months Ended
Sep. 30, 2011
Segment Information [Abstract] 
Segment Information
(19) Segment Information:

The Company evaluated its reportable segments in connection with its recent acquisition of CTI, and followed the accounting guidance that requires the utilization of a “management approach” to define and report the financial results of operating segments. The management approach defines operating segments along the lines used by the Company’s chief operating decision maker (CODM) to assess performance and make operating and resource allocation decisions. Our CODM evaluates performance and allocates resources based primarily on operating income (loss). Our operating segments are based primarily on internal management reporting.

The Company now operates in two reportable segments, flat products and tubular and pipe products. Through its flat products segment, the Company sells and distributes large volumes of processed carbon, coated, aluminum and stainless flat-rolled sheet, coil and plate products. Through its tubular and pipe products segment, the Company distributes metal tubing, pipe, bar, valve and fittings and fabricates pressure parts supplied to various industrial markets.

The following table summarizes financial information regarding segments:

 

                                 
    Three Months Ended
September 30,		     Nine Months Ended
September 30,		  
(in thousands)   2011     2010     2011     2010  

Net sales

                                

Flat products

   $ 287,137     $ 209,185     $ 880,518     $ 589,842  

Tubular and pipe products

     61,410       —         61,410       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Total net sales

   $ 348,547     $ 209,185     $ 941,928     $ 589,842  
   

 

 

    

 

 

    

 

 

    

 

 

  

Operating income

                                

Flat products

   $ 5,762     $ (1,276 )    $ 36,974     $ 7,637  

Tubular and pipe products

     3,553       —         3,553       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Total operating income

   $ 9,315     $ (1,276 )    $ 40,527     $ 7,637  
   

 

 

    

 

 

    

 

 

    

 

 

  

Depreciation and amortization

                                

Flat products

   $ 3,281     $ 3,270     $ 10,260     $ 9,775  

Tubular and pipe products

     1,375       —         1,375       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Total depreciation and amortization

   $ 4,656     $ 3,270     $ 11,635     $ 9,775  
   

 

 

    

 

 

    

 

 

    

 

 

  

Capital expenditures

                                

Flat products

   $ 8,018     $ 4,432     $ 24,434     $ 10,733  

Tubular and pipe products

     184       —         184       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Total capital expenditures

   $ 8,202     $ 4,432     $ 24,618     $ 10,733  
   

 

 

    

 

 

    

 

 

    

 

 

  

 

                 
(in thousands)   September 30,
2011		     December 31,
2010		  

Total assets

                

Flat products

   $ 528,033     $ 429,438  

Tubular and pipe products

     210,978       —    
   

 

 

    

 

 

  

Total assets

   $ 739,011     $ 429,438