18.	Business Segment Information

The Company’s operations are organized and reviewed by management along its product lines or end market that the segment serves and are presented in three reportable segments. The results of the segments are reviewed through to the “Income (loss) from operations” line on the Consolidated Statements of Operations. The accounting policies of the segments are the same as those in the consolidated financial statements. Except for the information reported on a segment basis, the Company does not accumulate net sales information by product or service and therefore, the Company does not disclose net sales by product or service because to do so would be impractical. The Company’s reportable segments are however organized as groups of similar products and services, defined as follows:

Energy Segment

Our Energy segment provides customized solutions for the power and petrochemical industry. This includes gas turbine exhaust systems, dampers and diverters, gas and liquid separation and filtration equipment, selective catalytic reduction (“SCR”) and selective non-catalytic reduction (“SNCR”) systems, acoustical components and silencers, secondary separators (nuclear plant reactor vessels) and expansion joints, the design and manufacture of technologies for flue gas and diverter dampers, non-metallic expansion joints, natural gas turbine exhaust systems, and silencer and precipitator applications, primarily for coal-fired and natural gas power plants, refining, oil production and petrochemical processing, as well as a variety of other industries.

Environmental Segment

Our Environmental segment provides the design and manufacture of product recovery and air pollution control technologies that enable our customers to meet compliance targets for toxic emissions, fumes, volatile organic compounds, process and industrial odors. These products and solutions include high efficiency and fluid catalytic cracking cyclone systems, scrubbers, regenerative thermal and catalytic oxidizers, dust collectors and baghouses, standard and engineered industrial ducting, fabric filters and cartridge collectors, ventilation and exhaust systems for emissions and contaminants, and process cooling systems for steel in rolling mills. This segment also provides component parts for industrial air systems and provides cost effective alternatives to traditional duct components, as well as custom metal engineered fabrication services. These products and services are applicable to a wide variety of industries.

Fluid Handling and Filtration Segment

Our Fluid Handling and Filtration segment provides the design and manufacture of high quality pump, filtration and fume exhaust solutions. This includes centrifugal pumps for corrosive, abrasive and high temperature liquids, filter products for air and liquid filtration, precious metal recovery systems, carbonate precipitators, and technologically advanced air movement and exhaust systems. These products are applicable to a wide variety of industries, particularly the aquarium/aquaculture, plating and metal finishing, food and beverage, chemical/petrochemical, wastewater treatment, desalination and pharmaceutical markets.

	2017			2016			2015
Net Sales (less intra-, inter-segment sales)
(Table only in thousands)
Energy Segment	$	149,514		$	203,376		$	142,150
Environmental Segment		127,279			153,344			158,371
Fluid Handling and Filtration Segment		69,159			61,783			67,610
Corporate and Other (1)		(901	)		(1,492	)		(709	)
Net sales	$	345,051		$	417,011		$	367,422

(1)	Includes adjustment for revenue on intercompany jobs.

	2017			2016			2015
Income (loss) from Operations
(Table only in thousands)
Energy Segment	$	8,987		$	23,575		$	3,488
Environmental Segment		13,703			15,652			17,021
Fluid Handling and Filtration Segment		14,734			(36,209	)		11,741
Corporate and Other (2)		(26,649	)		(26,981	)		(26,592	)
Eliminations		(2,751	)		(1,599	)		(709	)
Income (loss) from operations	$	8,024		$	(25,562	)	$	4,949

(2)	Includes corporate compensation, professional services, information technology, acquisition and integration expenses, and other general and administrative corporate expenses.

	2017		2016		2015
Property and Equipment Additions
(Table only in thousands)
Energy Segment	$	438	$	569	$	429
Environmental Segment		166		404		166
Fluid Handling and Filtration Segment (3)		382		4,481		150
Corporate and Other		42		7		18
Property and equipment additions	$	1,028	$	5,461	$	763

(3)Includes non-cash additions of $4,385 for property, plant, and equipment acquired under capital leases for the year ended December 31, 2016. See Note 12 for further detail.

	2017		2016		2015
Depreciation and Amortization
(Table only in thousands)
Energy Segment	$	7,866	$	9,555	$	5,293
Environmental Segment		3,297		3,816		4,443
Fluid Handling and Filtration Segment		4,754		5,406		6,331
Corporate and Other		171		126		453
Depreciation and amortization	$	16,088	$	18,903	$	16,520

	December 31,
	2017		2016
Identifiable Assets
(Table only in thousands)
Energy Segment	$	217,033	$	257,566
Environmental Segment		107,910		118,680
Fluid Handling and Filtration Segment		100,916		104,294
Corporate and Other (4)		12,690		18,094
Identifiable assets	$	438,549	$	498,634

(4)	Corporate assets primarily consist of cash and income tax related assets.

	December 31,
	2017		2016
Goodwill
(Table only in thousands)
Energy Segment	$	72,625	$	75,827
Environmental Segment		48,203		48,203
Fluid Handling and Filtration Segment		46,123		46,123
Goodwill	$	166,951	$	170,153

Intra-segment and Inter-segment Revenues

The Company has multiple divisions that sell to each other within segments (intra-segment sales) and between segments (inter-segment sales) as indicated in the following tables:

	Year Ended December 31, 2017
						Less Inter-Segment Sales
	Total Sales		Intra - Segment Sales			Environmental			Energy			FHF			Corp and Other			Net Sales to Outside Customers
Net Sales
(Table only in thousands)
Energy Segment	$	158,456	$	(8,834	)	$	(108	)	$	—		$	—		$	—		$	149,514
Environmental Segment		131,356		(3,235	)		—			(787	)		(55	)		—			127,279
Fluid Handling and Filtration Segment		73,652		(3,169	)		(493	)		(832	)		—			—			69,159
Corporate and Other (5)		—		—			—			—			—			(901	)		(901	)
Net Sales	$	363,464	$	(15,238	)	$	(601	)	$	(1,619	)	$	(55	)	$	(901	)	$	345,051

	Year Ended December 31, 2016
						Less Inter-Segment Sales
	Total Sales		Intra - Segment Sales			Environmental			Energy			FHF			Corp and Other			Net Sales to Outside Customers
Net Sales
(Table only in thousands)
Energy Segment	$	207,280	$	(3,506	)	$	(398	)	$	—		$	—		$	—		$	203,376
Environmental Segment		160,959		(4,256	)		—			(3,153	)		(206	)		—			153,344
Fluid Handling and Filtration Segment		64,327		(1,714	)		(317	)		(513	)		—			—			61,783
Corporate and Other (5)		—		—			—			—			—			(1,492	)		(1,492	)
Net Sales	$	432,566	$	(9,476	)	$	(715	)	$	(3,666	)	$	(206	)	$	(1,492	)	$	417,011

	Year Ended December 31, 2015
						Less Inter-Segment Sales
	Total Sales		Intra - Segment Sales			Environmental			Energy			FHF			Corp and Other			Net Sales to Outside Customers
Net Sales
(Table only in thousands)
Energy Segment	$	147,661	$	(4,876	)	$	(635	)	$	—		$	—		$	—		$	142,150
Environmental Segment		167,247		(6,744	)		—			(1,937	)		(195	)		—			158,371
Fluid Handling and Filtration Segment		70,084		(2,277	)		(197	)		—			—			—			67,610
Corporate and Other (5)		—		—			—			—			—			(709	)		(709	)
Net Sales	$	384,992	$	(13,897	)	$	(832	)	$	(1,937	)	$	(195	)	$	(709	)	$	367,422

(5)	Includes adjustment for revenue on intercompany jobs.