XML 30 R19.htm IDEA: XBRL DOCUMENT v3.5.0.2
Reportable Segments
 9 Months Ended
Sep. 30, 2016
Segment Reporting [Abstract]  
Reportable Segments
Reportable Segments
The structure of the Company’s internal organization is divided into the following reportable segments, which are also the Company’s operating segments: Energy & Chemicals (“E&C”), Distribution & Storage (“D&S”) and BioMedical. Corporate includes operating expenses for executive management, accounting, tax, treasury, human resources, information technology, legal, internal audit and risk management.
The following table represents information for the Company’s reportable segments and its corporate function:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Sales
 
 
 
 
 
 
 
Energy & Chemicals
$
23,711

 
$
78,388

 
$
122,865

 
$
257,197

Distribution & Storage
126,646

 
129,590

 
363,743

 
356,474

BioMedical
53,573

 
56,069

 
158,174

 
165,733

Consolidated
$
203,930

 
$
264,047

 
$
644,782

 
$
779,404

Operating Income (Loss) (1) (2)
 
 
 
 
 
 
 
Energy & Chemicals
$
(5,736
)
 
$
10,795

 
$
14,190

 
$
45,626

Distribution & Storage
14,715

 
8,027

 
37,550

 
29,184

BioMedical
20,916

 
5,966

 
38,120

 
15,202

Corporate
(9,831
)
 
(9,179
)
 
(34,820
)
 
(34,317
)
Consolidated
$
20,064

 
$
15,609

 
$
55,040

 
$
55,695


_______________
(1) 
As described in Note 1, beginning in 2016, the Company allocates share-based compensation expense to each operating segment and maintains share-based compensation expense related to Corporate employees at Corporate. Prior to 2016, all share-based compensation expense was recorded at Corporate. Reclassifications from Corporate to the operating segments have been made to the 2015 results to conform to the 2016 presentation.
(2) 
During the third quarter of 2016, the Company recovered for breaches of representations and warranties primarily related to warranty costs for certain product lines acquired in the 2012 acquisition of AirSep Corporation under the related representation and warranty insurance. For the three months ended September 30, 2016, this reduced our BioMedical segment’s cost of sales by $15,145 and Corporate SG&A expenses by $859, net of associated legal fees. For the nine months ended September 30, 2016, this reduced our BioMedical segment’s cost of sales by $15,145 and Corporate SG&A expenses by $376, net of associated legal fees recorded in the first nine months of the year.