Industry Segments (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Reporting Information by Segment

Summarized segment detail for the quarters ended March 31, 2021 and 2020 are presented in the following table:

	For the Quarter Ended March 31,
	2021			2020
Net Sales
Material Handling	$	129,893		$	84,076
Distribution		44,550			38,195
Inter-company sales		(14	)		(21	)
Total net sales	$	174,429		$	122,250

Operating income
Material Handling	$	16,927		$	15,167
Distribution ⁽¹⁾		1,438			1,850
Corporate ^{(1) (2)}		(7,500	)		6,281
Total operating income		10,865			23,298
Interest expense, net		(995	)		(1,069	)
Income before income taxes	$	9,870		$	22,229

(1)

In the quarter ended March 31, 2021, the Company recognized $0.8 million of executive severance, of which $0.5 million was recognized in the Distribution Segment and $0.3 million was recognized in Corporate. This executive severance cost includes $0.5 million of severance and benefits and $0.3 million of charges for acceleration of stock compensation.

(2)	In the quarter ended March 31, 2020, the Company recognized in Corporate an $11.9 million gain on the sale of notes receivable as described in Note 4.