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Segment Reporting
 12 Months Ended
Dec. 31, 2017
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Segment Reporting Disclosure [Text Block]
 
Year Ended December 31,
(in thousands)
2017
2016
2015
GROSS PROFIT (LOSS)
 
 
 
Power segment
$
191,999

$
233,550

$
247,632

Renewable segment
(128,204
)
(68,109
)
57,682

Industrial segment
41,383

50,726

54,826

Intangible amortization expense included in cost of operations
(14,272
)
(15,842
)
(7,676
)
Mark to market gain (loss) included in cost of operations
8,972

(21,208
)
(44,307
)
 
99,878

179,117

308,157

Selling, general and administrative ("SG&A") expenses
(255,545
)
(240,166
)
(240,296
)
Goodwill impairment charges
(86,903
)
—

—

Restructuring activities and spin-off transaction costs
(15,447
)
(40,807
)
(14,946
)
Research and development costs
(9,412
)
(10,406
)
(16,543
)
Intangible amortization expense included in SG&A
(3,980
)
(4,081
)
(3,769
)
Mark to market gain (loss) included in SG&A
(274
)
(2,902
)
4,097

Equity in income of investees
8,326

16,440

(242
)
Impairment of equity method investment
(18,193
)
—

—

Gains (losses) on asset disposals, net
(15
)
32

(14,597
)
Operating income (loss)
$
(281,565
)
$
(102,773
)
$
21,861

SEGMENT REPORTING

Our operations are assessed based on three reportable segments, which are summarized as follows:

•
Power segment: focused on the supply of and aftermarket services for steam-generating, environmental and auxiliary equipment for power generation and other industrial applications.
•
Renewable segment: focused on the supply of steam-generating systems, environmental and auxiliary equipment for the waste-to-energy and biomass power generation industries.
•
Industrial segment: focused on custom-engineered cooling, environmental and other industrial equipment along with related aftermarket services.

An analysis of our operations by segment is as follows:
 
Year Ended December 31,
(in thousands)
2017
2016
2015
REVENUES
 
 
 
Power segment
 
 
 
Retrofits & continuous emissions monitoring systems
$
306,758

$
392,854

$
427,378

New build utility and environmental
155,886

292,302

403,981

Aftermarket parts and field engineering services
277,129

292,535

304,923

Industrial steam generation
123,127

107,267

219,379

Eliminations
(41,838
)
(102,980
)
(120,664
)
 
821,062

981,978

1,234,997

Renewable segment
 
 
 
Renewable new build and services
282,228

284,684

277,326

Operations and maintenance
64,970

65,814

63,437

Eliminations
—

(1,326
)
(2,160
)
 
347,198

349,172

338,603

Industrial segment
 
 
 
Aftermarket parts and services
117,970

81,690

61,350

Environmental solutions
138,722

74,726

90,343

Cooling systems
126,683

73,797

—

Engineered products
14,416

23,400

32,002

 
397,791

253,613

183,695

 
 
 
 
Eliminations
(8,316
)
(6,500
)
—

 
$
1,557,735

$
1,578,263

$
1,757,295



The segment information presented in the table above reflects the product line revenues that are reviewed by each segment's manager. These gross product line revenues exclude eliminations of revenues generated from sales to other segments or to other product lines within the segment. The primary component of the Power segment elimination is revenue associated with construction services.


 
Year Ended December 31,
(in thousands)
2017
2016
2015
GROSS PROFIT (LOSS)
 
 
 
Power segment
$
191,999

$
233,550

$
247,632

Renewable segment
(128,204
)
(68,109
)
57,682

Industrial segment
41,383

50,726

54,826

Intangible amortization expense included in cost of operations
(14,272
)
(15,842
)
(7,676
)
Mark to market gain (loss) included in cost of operations
8,972

(21,208
)
(44,307
)
 
99,878

179,117

308,157

Selling, general and administrative ("SG&A") expenses
(255,545
)
(240,166
)
(240,296
)
Goodwill impairment charges
(86,903
)
—

—

Restructuring activities and spin-off transaction costs
(15,447
)
(40,807
)
(14,946
)
Research and development costs
(9,412
)
(10,406
)
(16,543
)
Intangible amortization expense included in SG&A
(3,980
)
(4,081
)
(3,769
)
Mark to market gain (loss) included in SG&A
(274
)
(2,902
)
4,097

Equity in income of investees
8,326

16,440

(242
)
Impairment of equity method investment
(18,193
)
—

—

Gains (losses) on asset disposals, net
(15
)
32

(14,597
)
Operating income (loss)
$
(281,565
)
$
(102,773
)
$
21,861



 
Year Ended December 31,
(in thousands)
2017
2016
2015
DEPRECIATION AND AMORTIZATION
 
 
 
Power segment
$
9,222

$
11,231

$
18,532

Renewable segment
3,208

2,711

2,567

Industrial segment
20,293

19,073

10,345

Segment depreciation and amortization
32,723

33,015

31,444

Corporate
7,415

6,568

3,488

Total depreciation and amortization
$
40,138

$
39,583

$
34,932



We do not separately identify or report our Company's assets by segment as the majority of our assets are shared by the Power and Renewable segments. Additionally, our chief operating decision maker does not consider assets by segment to be a critical measure by which performance is measured.

Information about our consolidated operations in different geographic areas
 
Year Ended December 31,
(in thousands)
2017
2016
2015
REVENUES(1)
 
 
 
United States
$
757,159

$
851,955

$
1,034,653

United Kingdom
194,456

201,221

126,285

Canada
108,045

74,629

134,276

Denmark
82,843

54,722

116,064

China
54,883

33,898

41,921

Egypt
43,148

35,878

—

South Korea
41,217

44,660

4,358

Sweden
39,891

24,809

18,302

Germany
28,333

29,559

19,233

Vietnam
15,771

55,265

46,803

Dominican Republic
15,144

21,366

82,916

Saudi Arabia
13,978

2,408

4,220

South Africa
12,453

4,097

4,486

Italy
11,663

7,862

4,671

Netherlands
8,989

3,348

4,651

Finland
8,713

5,756

6,113

Bolivia
8,694

—

—

Oman
7,683

—

—

Indonesia
6,909

6,723

1,730

Nigeria
6,766

—

—

India
6,441

6,856

13,108

Aggregate of all other countries,
each with less than $5 million in revenues
84,556

113,251

93,505

 
$
1,557,735

$
1,578,263

$
1,757,295


(1) We allocate geographic revenues based on the location of the customer's operations.

 
Year Ended December 31,
(in thousands)
2017
2016
2015
NET PROPERTY, PLANT AND EQUIPMENT
 
 
 
United States
$
79,681

$
75,368

$
88,840

Mexico
26,503

22,594

24,643

China
13,373

13,460

13,956

United Kingdom
6,604

6,337

8,070

Denmark
7,953

6,749

6,265

Aggregate of all other countries, each with less than
$5 million of net property, plant and equipment
7,817

9,129

3,943

 
$
141,931

$
133,637

$
145,717

 
Year Ended December 31,
(in thousands)
2017
2016
2015
DEPRECIATION AND AMORTIZATION
 
 
 
Power segment
$
9,222

$
11,231

$
18,532

Renewable segment
3,208

2,711

2,567

Industrial segment
20,293

19,073

10,345

Segment depreciation and amortization
32,723

33,015

31,444

Corporate
7,415

6,568

3,488

Total depreciation and amortization
$
40,138

$
39,583

$
34,932

Information about our consolidated operations in different geographic areas
 
Year Ended December 31,
(in thousands)
2017
2016
2015
REVENUES(1)
 
 
 
United States
$
757,159

$
851,955

$
1,034,653

United Kingdom
194,456

201,221

126,285

Canada
108,045

74,629

134,276

Denmark
82,843

54,722

116,064

China
54,883

33,898

41,921

Egypt
43,148

35,878

—

South Korea
41,217

44,660

4,358

Sweden
39,891

24,809

18,302

Germany
28,333

29,559

19,233

Vietnam
15,771

55,265

46,803

Dominican Republic
15,144

21,366

82,916

Saudi Arabia
13,978

2,408

4,220

South Africa
12,453

4,097

4,486

Italy
11,663

7,862

4,671

Netherlands
8,989

3,348

4,651

Finland
8,713

5,756

6,113

Bolivia
8,694

—

—

Oman
7,683

—

—

Indonesia
6,909

6,723

1,730

Nigeria
6,766

—

—

India
6,441

6,856

13,108

Aggregate of all other countries,
each with less than $5 million in revenues
84,556

113,251

93,505

 
$
1,557,735

$
1,578,263

$
1,757,295

 
Year Ended December 31,
(in thousands)
2017
2016
2015
REVENUES
 
 
 
Power segment
 
 
 
Retrofits & continuous emissions monitoring systems
$
306,758

$
392,854

$
427,378

New build utility and environmental
155,886

292,302

403,981

Aftermarket parts and field engineering services
277,129

292,535

304,923

Industrial steam generation
123,127

107,267

219,379

Eliminations
(41,838
)
(102,980
)
(120,664
)
 
821,062

981,978

1,234,997

Renewable segment
 
 
 
Renewable new build and services
282,228

284,684

277,326

Operations and maintenance
64,970

65,814

63,437

Eliminations
—

(1,326
)
(2,160
)
 
347,198

349,172

338,603

Industrial segment
 
 
 
Aftermarket parts and services
117,970

81,690

61,350

Environmental solutions
138,722

74,726

90,343

Cooling systems
126,683

73,797

—

Engineered products
14,416

23,400

32,002

 
397,791

253,613

183,695

 
 
 
 
Eliminations
(8,316
)
(6,500
)
—

 
$
1,557,735

$
1,578,263

$
1,757,295

NOTE 4 – SEGMENT REPORTING

Our operations are assessed based on three reportable segments, which are summarized as follows:

•
Power segment: focused on the supply of and aftermarket services for steam-generating, environmental and auxiliary equipment for power generation and other industrial applications.
•
Renewable segment: focused on the supply of steam-generating systems, environmental and auxiliary equipment for the waste-to-energy and biomass power generation industries.
•
Industrial segment: focused on custom-engineered cooling, environmental and other industrial equipment along with related aftermarket services.

An analysis of our operations by segment is as follows:
 
Year Ended December 31,
(in thousands)
2017
2016
2015
REVENUES
 
 
 
Power segment
 
 
 
Retrofits & continuous emissions monitoring systems
$
306,758

$
392,854

$
427,378

New build utility and environmental
155,886

292,302

403,981

Aftermarket parts and field engineering services
277,129

292,535

304,923

Industrial steam generation
123,127

107,267

219,379

Eliminations
(41,838
)
(102,980
)
(120,664
)
 
821,062

981,978

1,234,997

Renewable segment
 
 
 
Renewable new build and services
282,228

284,684

277,326

Operations and maintenance
64,970

65,814

63,437

Eliminations
—

(1,326
)
(2,160
)
 
347,198

349,172

338,603

Industrial segment
 
 
 
Aftermarket parts and services
117,970

81,690

61,350

Environmental solutions
138,722

74,726

90,343

Cooling systems
126,683

73,797

—

Engineered products
14,416

23,400

32,002

 
397,791

253,613

183,695

 
 
 
 
Eliminations
(8,316
)
(6,500
)
—

 
$
1,557,735

$
1,578,263

$
1,757,295



The segment information presented in the table above reflects the product line revenues that are reviewed by each segment's manager. These gross product line revenues exclude eliminations of revenues generated from sales to other segments or to other product lines within the segment. The primary component of the Power segment elimination is revenue associated with construction services.


 
Year Ended December 31,
(in thousands)
2017
2016
2015
GROSS PROFIT (LOSS)
 
 
 
Power segment
$
191,999

$
233,550

$
247,632

Renewable segment
(128,204
)
(68,109
)
57,682

Industrial segment
41,383

50,726

54,826

Intangible amortization expense included in cost of operations
(14,272
)
(15,842
)
(7,676
)
Mark to market gain (loss) included in cost of operations
8,972

(21,208
)
(44,307
)
 
99,878

179,117

308,157

Selling, general and administrative ("SG&A") expenses
(255,545
)
(240,166
)
(240,296
)
Goodwill impairment charges
(86,903
)
—

—

Restructuring activities and spin-off transaction costs
(15,447
)
(40,807
)
(14,946
)
Research and development costs
(9,412
)
(10,406
)
(16,543
)
Intangible amortization expense included in SG&A
(3,980
)
(4,081
)
(3,769
)
Mark to market gain (loss) included in SG&A
(274
)
(2,902
)
4,097

Equity in income of investees
8,326

16,440

(242
)
Impairment of equity method investment
(18,193
)
—

—

Gains (losses) on asset disposals, net
(15
)
32

(14,597
)
Operating income (loss)
$
(281,565
)
$
(102,773
)
$
21,861



 
Year Ended December 31,
(in thousands)
2017
2016
2015
DEPRECIATION AND AMORTIZATION
 
 
 
Power segment
$
9,222

$
11,231

$
18,532

Renewable segment
3,208

2,711

2,567

Industrial segment
20,293

19,073

10,345

Segment depreciation and amortization
32,723

33,015

31,444

Corporate
7,415

6,568

3,488

Total depreciation and amortization
$
40,138

$
39,583

$
34,932



We do not separately identify or report our Company's assets by segment as the majority of our assets are shared by the Power and Renewable segments. Additionally, our chief operating decision maker does not consider assets by segment to be a critical measure by which performance is measured.

Information about our consolidated operations in different geographic areas
 
Year Ended December 31,
(in thousands)
2017
2016
2015
REVENUES(1)
 
 
 
United States
$
757,159

$
851,955

$
1,034,653

United Kingdom
194,456

201,221

126,285

Canada
108,045

74,629

134,276

Denmark
82,843

54,722

116,064

China
54,883

33,898

41,921

Egypt
43,148

35,878

—

South Korea
41,217

44,660

4,358

Sweden
39,891

24,809

18,302

Germany
28,333

29,559

19,233

Vietnam
15,771

55,265

46,803

Dominican Republic
15,144

21,366

82,916

Saudi Arabia
13,978

2,408

4,220

South Africa
12,453

4,097

4,486

Italy
11,663

7,862

4,671

Netherlands
8,989

3,348

4,651

Finland
8,713

5,756

6,113

Bolivia
8,694

—

—

Oman
7,683

—

—

Indonesia
6,909

6,723

1,730

Nigeria
6,766

—

—

India
6,441

6,856

13,108

Aggregate of all other countries,
each with less than $5 million in revenues
84,556

113,251

93,505

 
$
1,557,735

$
1,578,263

$
1,757,295


(1) We allocate geographic revenues based on the location of the customer's operations.

 
Year Ended December 31,
(in thousands)
2017
2016
2015
NET PROPERTY, PLANT AND EQUIPMENT
 
 
 
United States
$
79,681

$
75,368

$
88,840

Mexico
26,503

22,594

24,643

China
13,373

13,460

13,956

United Kingdom
6,604

6,337

8,070

Denmark
7,953

6,749

6,265

Aggregate of all other countries, each with less than
$5 million of net property, plant and equipment
7,817

9,129

3,943

 
$
141,931

$
133,637

$
145,717