SEGMENT REPORTING

6 Months Ended

Jun. 30, 2020

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, 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 inter-segment eliminations.

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

	Three Months Ended June 30,
	2020								2019
	SC		IPS		SCS		Total		SC		IPS		SCS		Total
Product sales (recognized at a point in time)	$	144,286	$	—	$	32,988	$	177,274	$	184,444	$	—	$	48,385	$	232,829
Inventory management services (recognized over contract life)	—		—		4,086		$	4,086	—		—		3,927		$	3,927
Staffing services (day-rate basis)	9,562		—		—		$	9,562	15,534		—		—		$	15,534
Customized pump production (recognized over time)	—		60,479		—		$	60,479	—		81,028		—		$	81,028
Total Revenue	$	153,848	$	60,479	$	37,074	$	251,401	$	199,978	$	81,028	$	52,312	$	333,318
Income from operations(1)	$	13,664	$	8,565	$	3,353	$	25,582	$	23,230	$	12,028	$	3,784	$	39,042

	Six Months Ended June 30,
	2020								2019
	SC		IPS		SCS		Total		SC		IPS		SCS		Total
Product sales (recognized at a point in time)	$	314,081	$	—	$	77,140	$	391,221	$	356,112	$	—	$	94,770	$	450,882
Inventory management services (recognized over contract life)	—		—		8,311		$	8,311	—		—		7,865		$	7,865
Staffing services (day-rate basis)	22,352		—		—		$	22,352	30,045		—		—		$	30,045
Customized pump production (recognized over time)	—		130,500		—		$	130,500	—		155,751		—		$	155,751
Total Revenue	$	336,433	$	130,500	$	85,451	$	552,384	$	386,157	$	155,751	$	102,635	$	644,543
Income from operations	$	30,590	$	18,993	$	7,108	$	56,691	$	42,210	$	18,827	$	7,870	$	68,907

The following table presents reconciliations of operating income for reportable segments to the consolidated income before taxes (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Operating income for reportable segments	$	25,582	$	39,042	$	56,691	$	68,907
Adjustment for:
Amortization of intangible assets	3,046		3,803		6,243		7,617
Corporate expenses	15,783		12,392		32,780		23,627
Income from operations	$	6,753	$	22,847	17,668		37,663
Interest expense	3,930		4,885		8,307		9,925
Other income, net	133		185		(701)		152
Income before income taxes	$	2,690	$	17,777	$	10,062	$	27,586