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Industry Segments (Tables) | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Schedule of Segment Information | The following table summarizes certain information regarding segments of the Company's operations:
| Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
(in thousands) | 2022 |  | 2021 |  | 2022 |  | 2021 |  |  |  |
Net sales |  |  |  |  |  |  |  |  |  |  |
Tubular Products | $ | 72,839 |  |  | $ | 70,127 |  |  | $ | 248,517 |  |  | $ | 193,438 |  |  |  |  |
Specialty Chemicals | 27,328 |  |  | 16,055 |  |  | 84,070 |  |  | 45,609 |  |  |  |  |
| $ | 100,167 |  |  | $ | 86,182 |  |  | $ | 332,587 |  |  | $ | 239,047 |  |  |  |  |
Operating income |  |  |  |  |  |  |  |  |  |  |
Tubular Products | $ | 4,509 |  |  | $ | 11,711 |  |  | $ | 31,935 |  |  | $ | 21,793 |  |  |  |  |
Specialty Chemicals | 1,097 |  |  | 1,356 |  |  | 6,111 |  |  | 1,999 |  |  |  |  |
Corporate |  |  |  |  |  |  |  |  |  |  |
Unallocated corporate expenses | 3,890 |  |  | 2,009 |  |  | 10,241 |  |  | 5,138 |  |  |  |  |
Acquisition costs and other | 149 |  |  | 201 |  |  | 837 |  |  | 201 |  |  |  |  |
Proxy contest costs and recoveries | — |  |  | — |  |  | — |  |  | 168 |  |  |  |  |
Earn-out adjustments | — |  |  | 160 |  |  | (7) |  |  | 1,430 |  |  |  |  |
Total Corporate | 4,039 |  |  | 2,370 |  |  | 11,071 |  |  | 6,937 |  |  |  |  |
Operating income | 1,567 |  |  | 10,697 |  |  | 26,975 |  |  | 16,855 |  |  |  |  |
Interest expense | 827 |  |  | 329 |  |  | 1,637 |  |  | 1,068 |  |  |  |  |
Loss on extinguishment of debt | — |  |  | — |  |  | — |  |  | 223 |  |  |  |  |
Change in fair value of interest rate swap | — |  |  | — |  |  | — |  |  | (2) |  |  |  |  |
Other, net | (118) |  |  | (10) |  |  | (176) |  |  | 152 |  |  |  |  |
Income before income taxes | $ | 858 |  |  | $ | 10,378 |  |  | $ | 25,514 |  |  | $ | 15,414 |  |  |  |  |
| As of |  |  |  |  |  |
(in thousands) | September 30, 2022 |  | December 31, 2021 |  |  |  |  |  |  |  |
Identifiable assets |  |  |  |  |  |  |  |  |  |  |
Tubular Products | $ | 190,646 |  |  | $ | 160,625 |  |  |  |  |  |  |  |  |
Specialty Chemicals | $ | 77,391 |  |  | 72,908 |  |  |  |  |  |  |  |  |
Corporate | $ | 31,405 |  |  | 32,469 |  |  |  |  |  |  |  |  |
| $ | 299,442 |  |  | $ | 266,002 |  |  |  |  |  |  |  |  |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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