XML 36 R21.htm IDEA: XBRL DOCUMENT
v3.20.4

Industry Segments | 12 Months Ended
--- | ---
Dec. 31, 2020
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, Palmer and Specialty. The Specialty Chemicals Segment operates as one reporting unit which includes MC and CRI Tolling. 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. The following table summarizes certain information regarding segments of the Company's operations:
(in thousands) | 2020 |  | 2019 |  |
Net sales |  |  |  |  |
Metals Segment | $ | 204,459 |  |  | $ | 251,078 |  |  |
Specialty Chemicals Segment | 51,541 |  |  | 54,090 |  |  |
| $ | 256,000 |  |  | $ | 305,168 |  |  |
Operating (loss) income |  |  |  |  |
Metals Segment | $ | (24,599) |  |  | $ | 3,692 |  |  |
Specialty Chemicals Segment | 4,033 |  |  | 2,811 |  |  |
| (20,566) |  |  | 6,503 |  |  |
Unallocated corporate expenses | 7,917 |  |  | 8,357 |  |  |
Acquisition related costs | 845 |  |  | 601 |  |  |
Proxy contest costs | 3,105 |  |  | — |  |  |
Earn-out adjustments | (1,195) |  |  | (747) |  |  |
Gain on lease modification | (171) |  |  | — |  |  |
Operating loss | (31,067) |  |  | (1,708) |  |  |
Interest expense | 2,110 |  |  | 3,818 |  |  |
Change in fair value of interest rate swap | 51 |  |  | 141 |  |  |
Other income, net | (1,255) |  |  | (1,904) |  |  |
Loss before income taxes | $ | (31,973) |  |  | $ | (3,763) |  |  |
Identifiable assets |  |  |  |  |
Metals Segment | $ | 141,799 |  |  | $ | 186,758 |  |  |
Specialty Chemicals Segment | 25,039 |  |  | 25,428 |  |  |
Corporate | 40,146 |  |  | 45,011 |  |  |
| $ | 206,984 |  |  | $ | 257,197 |  |  |
Depreciation and amortization |  |  |  |  |
Metals Segment | $ | 8,883 |  |  | $ | 9,439 |  |  |
Specialty Chemicals Segment | 1,552 |  |  | 1,461 |  |  |
Corporate | 165 |  |  | 164 |  |  |
| $ | 10,600 |  |  | $ | 11,064 |  |  |
Capital expenditures |  |  |  |  |
Metals Segment | $ | 1,761 |  |  | $ | 2,812 |  |  |
Specialty Chemicals Segment | 866 |  |  | 1,157 |  |  |
Corporate | 1,121 |  |  | 568 |  |  |
| $ | 3,748 |  |  | $ | 4,537 |  |  |
Sales by product group |  |  |  |  |
Specialty chemicals | $ | 51,541 |  |  | $ | 54,090 |  |  |
Stainless steel pipe and tube | 154,974 |  |  | 167,907 |  |  |
Heavy wall seamless carbon steel pipe and tube | 23,670 |  |  | 30,607 |  |  |
Fiberglass and steel liquid storage tanks and separation equipment | 5,503 |  |  | 28,722 |  |  |
Galvanized pipe and tube | 20,312 |  |  | 23,842 |  |  |
| $ | 256,000 |  |  | $ | 305,168 |  |  |
Geographic sales |  |  |  |  |
United States | $ | 248,470 |  |  | $ | 297,808 |  |  |
Elsewhere | 7,530 |  |  | 7,360 |  |  |
| $ | 256,000 |  |  | $ | 305,168 |  |  |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration