Business Segments (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Business Segment Net Sales and Income before Income Taxes

Presented below are the net sales and income before income taxes for the Corporation’s two business segments and sales by product line. When disaggregating revenue, consideration is given to information regularly reviewed by the chief operating decision-maker to evaluate the financial performance of the operating segments and make resource allocation decisions.

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Net Sales:
Forged and Cast Engineered Products
Forged and cast mill rolls	$	72,647		$	73,003		$	146,043		$	144,702
FEP		3,066			4,578			6,859			9,677
Forged and Cast Engineered Products		75,713			77,581			152,902			154,379
Air and Liquid Processing
Air handling systems		14,043			8,892			26,553			18,096
Heat exchange coils		11,979			11,105			22,802			21,740
Centrifugal pumps		9,253			9,633			18,946			17,799
Air and Liquid Processing		35,275			29,630			68,301			57,635
Total Reportable Segments	$	110,988		$	107,211		$	221,203		$	212,014
Income before income taxes:
Forged and Cast Engineered Products (1)	$	5,361		$	3,904		$	6,937		$	6,128
Air and Liquid Processing		3,174			2,977			5,156			5,930
Total Reportable Segments		8,535			6,881			12,093			12,058
Other expense, including corporate costs		(5,120	)		(5,733	)		(10,430	)		(9,612	)
Total	$	3,415		$	1,148		$	1,663		$	2,446

(1) Income before income taxes for Forged and Cast Engineered Products for the three and six months ended June 30, 2023 includes proceeds of approximately $1,874 for the reimbursement of past energy costs at one of the Corporation’s foreign operations by its local government. No future performance or conditions exist related to the reimbursement and, currently, no further reimbursements are expected.