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Industry Segments | 12 Months Ended
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Dec. 31, 2021
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, Palmer and Specialty. The Specialty Chemicals Segment operates as one reporting unit which includes MC, CRI and DanChem. 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 (loss) 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) | 2021 |  | 2020 |  |
Net sales |  |  |  |  |
Metals Segment | $ | 267,238 |  |  | $ | 204,459 |  |  |
Specialty Chemicals Segment | 67,477 |  |  | 51,541 |  |  |
| $ | 334,715 |  |  | $ | 256,000 |  |  |
Operating income (loss) |  |  |  |  |
Metals Segment | $ | 33,561 |  |  | $ | (24,599) |  |  |
Specialty Chemicals Segment | 3,656 |  |  | 4,033 |  |  |
| 37,217 |  |  | (20,566) |  |  |
Unallocated corporate expenses | 6,828 |  |  | 7,917 |  |  |
Acquisition costs and other | 1,001 |  |  | 845 |  |  |
Proxy contest costs and recoveries | 168 |  |  | 3,105 |  |  |
Earn-out adjustments | 1,872 |  |  | (1,195) |  |  |
Gain on lease modification | — |  |  | (171) |  |  |
Operating income (loss) | 27,348 |  |  | (31,067) |  |  |
Interest expense | 1,486 |  |  | 2,110 |  |  |
Change in fair value of interest rate swap | (2) |  |  | 51 |  |  |
Loss on extinguishment of debt | 223 |  |  | — |  |  |
Other income, net | 143 |  |  | (1,255) |  |  |
Income (loss) before income taxes | $ | 25,498 |  |  | $ | (31,973) |  |  |
Identifiable assets |  |  |  |  |
Metals Segment | $ | 160,625 |  |  | $ | 141,799 |  |  |
Specialty Chemicals Segment | 72,908 |  |  | 25,039 |  |  |
Corporate | 32,469 |  |  | 40,146 |  |  |
| $ | 266,002 |  |  | $ | 206,984 |  |  |
Depreciation and amortization |  |  |  |  |
Metals Segment | $ | 8,206 |  |  | $ | 8,883 |  |  |
Specialty Chemicals Segment | 2,005 |  |  | 1,552 |  |  |
Corporate | 130 |  |  | 165 |  |  |
| $ | 10,341 |  |  | $ | 10,600 |  |  |
Capital expenditures |  |  |  |  |
Metals Segment | $ | 1,011 |  |  | $ | 1,761 |  |  |
Specialty Chemicals Segment | 486 |  |  | 866 |  |  |
Corporate | — |  |  | 1,121 |  |  |
| $ | 1,497 |  |  | $ | 3,748 |  |  |
Sales by product group |  |  |  |  |
Fiberglass and steel liquid storage tanks and separation equipment | $ | 1,343 |  |  | $ | 5,503 |  |  |
Heavy wall seamless carbon steel pipe and tube | 40,539 |  |  | 23,670 |  |  |
Stainless steel pipe and tube | 186,651 |  |  | 154,974 |  |  |
Galvanized pipe and tube | 38,705 |  |  | 20,312 |  |  |
Specialty chemicals | 67,477 |  |  | 51,541 |  |  |
| $ | 334,715 |  |  | $ | 256,000 |  |  |
Geographic sales |  |  |  |  |
United States | $ | 325,335 |  |  | $ | 248,470 |  |  |
Elsewhere | 9,380 |  |  | 7,530 |  |  |
| $ | 334,715 |  |  | $ | 256,000 |  |  |

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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://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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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
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