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Business Segment Information (Tables)
12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Net Sales and Income from Operation by Business Segment

 

(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.

 

Property and Equipment Additions, Depreciation and Amortization and Identifiable Assets

(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.

 

Goodwill

 

 

 

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