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Industry Segments
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Industry Segments Industry Segments
Ascent Industries Co. has two reportable segments: Tubular Products and Specialty Chemicals. The Tubular Products segment includes the operating results of the Company’s plants involved in the production of stainless steel pipe and tube. The Tubular Products segment serves markets through pipe and tube and customers in the appliance, architectural, automotive and commercial transportation, brewery, chemical, petrochemical, pulp and paper, mining, power generation (including nuclear), water and waste-water treatment, liquid natural gas ("LNG"), food processing, pharmaceutical, oil and gas and other industries.

On January 1, 2023, the Company changed the grouping of certain immaterial revenue and expenses associated with the ceased Palmer operations. As a result, certain prior period Tubular Products segment results have been reclassified to All Other to be comparable to the current period's presentation. During the second quarter of 2023, the Board of Directors made the decision to permanently cease operations at the Company’s Munhall facility, which was effective August 31, 2023. As a result, certain prior period Tubular Products segment results have been reclassified to remove Munhall's results from continuing operations to discontinued operations. On December 22, 2023, the Company and its wholly-owned subsidiary Specialty Pipe & Tube, Inc. (“SPT”) entered into an Asset Purchase Agreement pursuant to which Ascent and SPT sold substantially all of the assets primarily related to SPT to Specialty Pipe & Tube Operations, LLC, a Delaware limited liability company. The transaction closed on December 22, 2023. As a result, prior period Tubular Products segment results have been reclassified to remove SPT's results from continuing operations to discontinued operations.

The Specialty Chemicals segment includes the operating results of the Company’s plants involved in the production of specialty chemicals. The Specialty Chemicals segment produces products for the pulp and paper, coatings, adhesives, sealants and elastomers (CASE), textile, automotive, household, industrial and institutional ("HII"), agricultural, water and waste-water treatment, construction, oil and gas and other industries.

The chief operating decision maker evaluates performance and determines resource allocations based on a number of factors, the primary measures being operating income and Adjusted earnings (loss) before interest, income taxes, depreciation and amortization. Adjusted earnings (loss) before interest, income taxes, depreciation and amortization excludes certain items that management believes are not indicative of future results.

The accounting principles applied at the operating segment level are the same as those applied at the consolidated financial statement level. Intersegment sales and transfers are eliminated at the corporate consolidation level.
The following table summarizes certain information regarding segments of the Company's continuing operations:
(in thousands)20232022
Net sales   
Tubular Products$109,513 $154,040 
Specialty Chemicals83,616 107,542 
All Other50 411 
 $193,179 $261,993 
Operating (loss) income  
Tubular Products$(11,210)$22,182 
Specialty Chemicals(12,558)6,971 
All Other(801)(509)
 (24,569)28,644 
Corporate
Unallocated corporate expenses(12,018)(12,997)
Acquisition costs and other(843)(1,104)
Total Corporate(12,861)(14,101)
Operating (loss) income(37,430)14,543 
Interest expense4,238 2,742 
Other income, net(593)(209)
(Loss) income before income taxes$(41,075)$12,010 
Identifiable assets  
Tubular Products$70,548 $89,050 
Specialty Chemicals49,547 72,990 
Corporate & Other42,339 37,907 
 $162,434 $199,947 
Depreciation and amortization  
Tubular Products$3,145 $3,451 
Specialty Chemicals4,432 4,749 
Corporate & Other89 74 
 $7,666 $8,274 
Capital expenditures  
Tubular Products$1,104 $2,076 
Specialty Chemicals1,519 1,140 
Corporate & Other262 178 
 $2,885 $3,394 
Sales by product group
Fiberglass and steel liquid storage tanks and separation equipment$50 $411 
Stainless steel pipe and tube109,513 154,040 
Specialty chemicals83,616 107,542 
$193,179 $261,993 
Geographic sales  
United States$188,241 $253,693 
Elsewhere4,938 8,300 
 $193,179 $261,993