Discontinued Operations

9 Months Ended

Sep. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued OperationsOn September 4, 2020, the Company completed the sale of the issued and outstanding membership interests of its upstream oil and gas test and inspection business, IOS Test and Inspection Services. Proceeds from the sale were $4,000 and resulted in a loss of $10,034, net of tax. The Company has reflected the results of operations of the IOS Test and Inspection Services business as discontinued operations in the Condensed Consolidated Financial Statements for all periods presented. The IOS Test and Inspection Services business was historically included in the legacy Tubular and Energy segment, whose remaining divisions are now included as part of the Infrastructure Solutions segment.

The following table provides the net sales and income (losses) from discontinued operations for the three and nine months ended September 30, 2020:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Net sales	$	—	$	2,520	$	—	$	13,590
Income (loss) from discontinued operations before income taxes	72		(306)		72		(10,393)
Income tax benefit from discontinued operations	—		592		—		2,371
Loss on the sale of discontinued operations	—		(13,172)		—		(13,172)
Income tax benefit on the sale of discontinued operations	—		3,138		—		3,138
Income (loss) from discontinued operations	$	72	$	(9,748)	$	72	$	(18,056)