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Industry Segments | 12 Months Ended
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Dec. 31, 2019
Segment Reporting [Abstract] |
Industry Segments | Industry Segments The Company's business is divided into two operating segments: Metals and Specialty Chemicals. The Company identifies such segments based on products and services, long-term financial performance and end markets targeted. The Metals Segment operates as three reporting units including Welded Pipe & Tube Operations, a unit that includes Bristol Metals, LLC ("BRISMET") and American Stainless Tubing, LLC ("ASTI"), Palmer of Texas Tanks, Inc. ("Palmer"), and Specialty Pipe & Tube, Inc. ("Specialty").Welded Pipe & Tube Operations manufactures pipe and tube from stainless steel, galvanized, ornamental stainless steel tubing, and other alloy pipe and tube. Palmer manufactures liquid storage solutions and separation equipment. Specialty is a master distributor of seamless carbon pipe and tube. The Metals Segment's markets include the oil and gas, chemical, petrochemical, pulp and paper, mining, power generation (including nuclear), water and waste water treatment, liquid natural gas ("LNG"), brewery, food processing, petroleum, pharmaceutical, automotive & commercial transportation, appliance, architectural, and other heavy industries. The Specialty Chemicals Segment operates as one reporting unit which includes Manufacturers Chemicals, LLC ("MC"), a wholly-owned subsidiary of Manufacturers Soap and Chemical Company ("MS&C"), and CRI Tolling, LLC ("CRI Tolling"). The Specialty Chemicals Segment produces specialty chemicals for the chemical, paper, metals, mining, agricultural, fiber, paint, textile, automotive, petroleum, cosmetics, mattress, furniture, janitorial and other industries. MC manufactures lubricants, surfactants, defoamers, reaction intermediaries and sulfated fats and oils. CRI Tolling provides chemical tolling manufacturing resources to global and regional chemical companies and contracts with other chemical companies to manufacture certain, pre-defined products. The chief operating decision maker evaluates performance and determines resource allocations based on a number of factors, the primary measure being operating income (loss). The accounting policies of the segments are the same as those described in the summary of significant accounting policies. Segment operating income is the segment's total revenue less operating expenses. Identifiable assets, all of which are located in the U.S., are those assets used in operations by each segment. Centralized data processing and accounting expenses are allocated to the two segments based upon estimates of their percentage of usage. Corporate assets consist principally of cash, certain investments and equipment. Segment Information: All values are for continuing operations only.
(in thousands) | 2019 |  | 2018 |  | 2017
Net sales |  |  |  |  |
Metals Segment | $ | 251,078 |  |  | $ | 222,242 |  |  | $ | 152,957 |
Specialty Chemicals Segment | 54,090 |  |  | 58,599 |  |  | 48,191 |
| $ | 305,168 |  |  | $ | 280,841 |  |  | $ | 201,148 |
Operating (loss) income |  |  |  |  |  |  |  |
Metals Segment | $ | 3,692 |  |  | $ | 27,544 |  |  | $ | 5,424 |
Gain on sale-leaseback | — |  |  | 240 |  |  | 240 |
Total Metals Segment | 3,692 |  |  | 27,784 |  |  | 5,664 |
Specialty Chemicals Segment | 2,811 |  |  | 3,879 |  |  | 4,295 |
Gain on sale-leaseback | — |  |  | 95 |  |  | 95 |
Total Specialty Chemicals Segment | 2,811 |  |  | 3,974 |  |  | 4,390 |
| 6,503 |  |  | 31,758 |  |  | 10,054 |
Unallocated corporate expenses | 8,357 |  |  | 7,878 |  |  | 6,513 |
Earn-out adjustments | (747 | ) |  | 1,431 |  |  | 689 |
Acquisition related costs | 601 |  |  | 1,212 |  |  | 795 |
Operating (loss) income | (1,708 | ) |  | 21,237 |  |  | 2,057 |
Interest expense | 3,818 |  |  | 2,211 |  |  | 985 |
Change in fair value of interest rate swap | 141 |  |  | (20 | ) |  | (96 | )
Other income, net | (1,904 | ) |  | 2,573 |  |  | (310 | )
(Loss) income before income taxes | $ | (3,763 | ) |  | $ | 16,473 |  |  | $ | 1,478 |
Identifiable assets |  |  |  |  |  |  |  |
Metals Segment | $ | 186,758 |  |  | $ | 192,196 |  |  |
Specialty Chemicals Segment | 25,428 |  |  | 28,175 |  |  |
Corporate | 45,011 |  |  | 8,028 |  |  |
| $ | 257,197 |  |  | $ | 228,399 |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |
Metals Segment | $ | 9,439 |  |  | $ | 7,198 |  |  | $ | 6,281 |
Specialty Chemicals Segment | 1,461 |  |  | 1,428 |  |  | 1,302 |
Corporate | 164 |  |  | 149 |  |  | 155 |
| $ | 11,064 |  |  | $ | 8,775 |  |  | $ | 7,738 |
Capital expenditures |  |  |  |  |  |  |  |
Metals Segment | $ | 2,812 |  |  | $ | 5,969 |  |  | $ | 3,406 |
Specialty Chemicals Segment | 1,157 |  |  | 1,298 |  |  | 1,650 |
Corporate | 568 |  |  | 88 |  |  | 223 |
| $ | 4,537 |  |  | $ | 7,355 |  |  | $ | 5,279 |
Sales by product group |  |  |  |  |
Specialty chemicals | $ | 54,090 |  |  | $ | 58,599 |  |  | $ | 48,191 |
Stainless steel pipe and tube | 167,907 |  |  | 146,237 |  |  | 100,254 |
Heavy wall seamless carbon steel pipe and tube | 30,607 |  |  | 32,474 |  |  | 25,103 |
Fiberglass and steel liquid storage tanks and separation equipment | 28,722 |  |  | 31,654 |  |  | 27,600 |
Galvanized pipe and tube | 23,842 |  |  | 11,877 |  |  | — |
| $ | 305,168 |  |  | $ | 280,841 |  |  | $ | 201,148 |
Geographic sales |  |  |  |  |  |  |  |
United States | $ | 297,808 |  |  | $ | 273,244 |  |  | $ | 196,172 |
Elsewhere | 7,360 |  |  | 7,597 |  |  | 4,976 |
| $ | 305,168 |  |  | $ | 280,841 |  |  | $ | 201,148 |

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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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