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SEGMENT REPORTING
9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
SEGMENT REPORTING
SEGMENT REPORTING

The Company's reportable business segments are: Service Centers, Innovative Pumping Solutions and Supply Chain Services. The Service Centers segment is engaged in providing maintenance, MRO products, equipment and integrated services, including logistics capabilities, to industrial customers. The Service Centers segment provides a wide range of MRO products in the rotating equipment, bearing, power transmission, hose, fluid power, metal working, fastener, industrial supply, safety products and safety services categories. The Innovative Pumping Solutions segment fabricates and assembles custom-made pump packages, remanufactures pumps and manufactures branded private label pumps. The Supply Chain Services segment provides a wide range of MRO products and manages all or part of a customer's supply chain, including warehouse and inventory management.

The high degree of integration of the Company's operations necessitates the use of a substantial number of allocations and apportionments in the determination of business segment information. Sales are shown net of intersegment eliminations.

The following table sets out financial information related to the Company's segments excluding amortization (in thousands):

 
Three Months Ended September 30,
 
2019
 
2018
 
SC
 
IPS
 
SCS
 
Total
 
SC
 
IPS
 
SCS
 
Total
Product sales (recognized at a point in time)
$
178,841

 
$

 
$
46,998

 
$
225,839

 
$
173,022

 
$

 
$
40,210

 
$
213,232

Inventory management services (recognized over contract life)

 

 
4,284

 
$
4,284

 

 

 
3,393

 
$
3,393

Staffing services (day-rate basis)
14,886

 

 

 
$
14,886

 
14,741

 

 

 
$
14,741

Customized pump production (recognized over time)

 
82,169

 

 
$
82,169

 

 
76,662

 

 
$
76,662

Total Revenue
$
193,727

 
$
82,169

 
$
51,282

 
$
327,178

 
$
187,763

 
$
76,662

 
$
43,603

 
$
308,028

Income from operations
$
25,071

 
$
10,097

 
$
3,110

 
$
38,278

 
$
20,590

 
$
8,773

 
$
3,886

 
$
33,249


 
Nine Months Ended September 30,
 
2019
 
2018
 
SC
 
IPS
 
SCS
 
Total
 
SC
 
IPS
 
SCS
 
Total
Product sales (recognized at a point in time)
$
534,953

 
$

 
$
141,768

 
$
676,721

 
$
509,756

 
$

 
$
120,040

 
$
629,796

Inventory management services (recognized over contract life)

 

 
12,149

 
$
12,149

 

 

 
9,890

 
$
9,890

Staffing services (day-rate basis)
44,931

 

 

 
$
44,931

 
46,944

 

 

 
$
46,944

Customized pump production (recognized over time)

 
237,920

 

 
$
237,920

 

 
218,561

 

 
$
218,561

Total Revenue
$
579,884

 
$
237,920

 
$
153,917

 
$
971,721

 
$
556,700

 
$
218,561

 
$
129,930

 
$
905,191

Income from operations
$
67,281

 
$
28,924

 
$
10,980

 
$
107,185

 
58,353

 
24,109

 
12,196

 
$
94,658



The following table presents reconciliations of operating income for reportable segments to the consolidated income before taxes (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
Operating income for reportable segments
$
38,278

 
$
33,249

 
$
107,185

 
$
94,658

Adjustment for:
 
 
 
 
 
 
 
Amortization of intangible assets
3,806

 
4,098

 
11,424

 
12,575

Corporate expenses
12,755

 
12,338

 
36,381

 
34,061

Income from operations
$
21,717

 
$
16,813

 
59,380

 
48,022

Interest expense
4,986

 
4,781

 
14,911

 
15,959

Other income, net
(25
)
 
120

 
127

 
(1,318
)
Income before income taxes
$
16,756

 
$
11,912

 
$
44,342

 
$
33,381



The Company's identifiable assets by segments are as follows (in thousands):

 
As of September 30, 2019
 
As of December 31, 2018
Service Centers
$
458,975

 
$
402,944

Innovative Pumping Solutions
225,361

 
188,765

Supply Chain Services
60,342

 
53,517

Total Identifiable Assets
$
744,678

 
$
645,226



The Company had identifiable assets at Corporate of $46.9 million and $54.7 million, as of September 30, 2019 and December 31, 2018.