Business Segment Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Business Segment Information

17. Business Segment Information

The Company’s operations are organized and reviewed by management along its product lines or end markets that the segment serves and are presented in three reportable segments. The results of the segments are reviewed through to the “Income 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 organized as groups of similar products and services, as described as follows:

• Energy Solutions segment:  Our Energy Solutions segment serves the Energy market, where we are a key part of helping meet the global demand for clean energy and lower emissions through our highly engineered and tailored emissions management, silencers and separation solutions and services. Our offerings improve air quality and solves fluid handling needs with market leading technologies, efficiently designed, and customized solutions for the power generation, oil & gas, and petrochemical industries.

• Industrial Solutions segment:  Our Industrial Solutions segment serves the Air Pollution Control market where our aim is to address the growing need to protect the air we breathe and help our customers’ desires for sustainability upgrades beyond carbon footprint issues.  Our offerings in clean air pollution control, collection and ventilation technologies improve air quality with a compelling solution that enable our customers in the semiconductor manufacturing, electric vehicle production, battery recycling, and wood manufacturing industries to reduce their carbon footprint, lower energy consumption, minimize waste and meet compliance targets for toxic emissions, fumes, volatile organic compounds, and industrial odors.

• Fluid Handling Solutions segment:  Our Fluid Handling Solutions segment offers unique pump and filtration solutions that maintain safe and clean operations in some of the most harsh and toxic environments. In this market, we provide solutions for mission-critical applications to a wide variety of industries including, but not limited to, plating and metal finishing, automotive, food and beverage, chemical, petrochemical, pharmaceutical, wastewater treatment, desalination and the aquarium & aquaculture markets.

(table only in thousands)	2020		2019		2018
Net Sales (less intra-, inter-segment sales)
Energy Solutions segment	$	205,494	$	210,319	$	211,185
Industrial Solutions segment		74,697		91,347		80,699
Fluid Handling Solutions segment		35,820		40,203		45,455
Net sales	$	316,011	$	341,869	$	337,339

(table only in thousands)	2020			2019			2018
Income from Operations
Energy Solutions segment	$	34,170		$	33,886		$	28,797
Industrial Solutions segment		2,183			5,679			6,308
Fluid Handling Solutions segment		5,037			5,558			7,730
Corporate and Other (1)		(28,044	)		(27,133	)		(32,833	)
Income from operations	$	13,346		$	17,990		$	10,002

(1) Includes corporate compensation, professional services, information technology, acquisition and integration expenses, and other general, administrative corporate expenses and loss on divestitures.

(table only in thousands)	2020		2019		2018
Property and Equipment Additions
Energy Solutions segment	$	550	$	434	$	205
Industrial Solutions segment		371		402		756
Fluid Handling Solutions segment		978		3,239		1,226
Corporate and Other		2,046		1,580		903
Property and equipment additions	$	3,945	$	5,655	$	3,090

(table only in thousands)	2020		2019		2018
Depreciation and Amortization
Energy Solutions segment	$	4,957	$	6,084	$	8,112
Industrial Solutions segment		1,589		1,320		1,067
Fluid Handling Solutions segment		2,610		2,795		3,517
Corporate and Other		765		410		576
Depreciation and amortization	$	9,921	$	10,609	$	13,272

	December 31,
(table only in thousands)	2020		2019
Identifiable Assets
Energy Solutions segment	$	270,573	$	254,752
Industrial Solutions segment		69,465		64,725
Fluid Handling Solutions segment		65,739		71,572
Corporate and Other (2)		13,537		17,588
Identifiable assets	$	419,314	$	408,637

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

	December 31,
(table only in thousands)	2020		2019
Goodwill
Energy Solutions segment	$	99,785	$	97,007
Industrial Solutions segment		30,458		23,436
Fluid Handling Solutions segment		31,577		31,577
Goodwill	$	161,820	$	152,020

Intra-segment and Inter-segment Revenues

The Company has 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, 2020
						Less Inter-Segment Sales
(table only in thousands)	Total Sales		Intra - Segment Sales			Industrial			Energy			Fluid			Net Sales to Outside Customers
Net Sales
Energy Solutions segment	$	218,290	$	(11,333	)	$	(725	)	$	—		$	(738	)	$	205,494
Industrial Solutions segment		88,694		(12,749	)		—			(1,232	)		(16	)		74,697
Fluid Handling Solutions segment		36,761		(902	)		(39	)		—			—			35,820
Net Sales	$	343,745	$	(24,984	)	$	(764	)	$	(1,232	)	$	(754	)	$	316,011

	Year Ended December 31, 2019
						Less Inter-Segment Sales
(table only in thousands)	Total Sales		Intra - Segment Sales			Industrial			Energy			Fluid			Net Sales to Outside Customers
Net Sales
Energy Solutions segment	$	217,359	$	(6,650	)	$	(390	)	$	—		$	—		$	210,319
Industrial Solutions segment		101,369		(8,278	)		—			(1,677	)		(67	)		91,347
Fluid Handling Solutions segment		41,717		(1,300	)		(214	)		—			—			40,203
Net Sales	$	360,445	$	(16,228	)	$	(604	)	$	(1,677	)	$	(67	)	$	341,869

	Year Ended December 31, 2018
						Less Inter-Segment Sales
(table only in thousands)	Total Sales		Intra - Segment Sales			Industrial			Energy			Fluid			Net Sales to Outside Customers
Net Sales
Energy Solutions segment	$	220,334	$	(7,912	)	$	(1,232	)	$	—		$	(5	)	$	211,185
Industrial Solutions segment		84,424		(3,084	)		—			(600	)		(41	)		80,699
Fluid Handling Solutions segment		47,561		(1,483	)		(616	)		(7	)		—			45,455
Net Sales	$	352,319	$	(12,479	)	$	(1,848	)	$	(607	)	$	(46	)	$	337,339

No single customer represented greater than 10% of consolidated net sales or accounts receivable for 2020, 2019, or 2018.

For 2020, 2019, and 2018, sales to customers outside the United States, including export sales, accounted for approximately 35%, 30%, and 33%, respectively, of consolidated net sales. The largest portion of export sales in 2020 was destined for Europe (11.7%), and Asia (11.4%). Of consolidated long-lived assets, $29.0 million and $16.9 million were located outside of the United States as of December 31, 2020 and 2019, respectively. The largest portion of long-lived assets located outside the United States at December 31, 2020 were in Europe ($25.4 million).