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SEGMENT REPORTING
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
We have three reportable and operating segments: Service Centers, Innovative Pumping Solutions and Supply Chain Services.

The Service Centers segment is engaged in providing maintenance, MRO products and equipment, 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, re-manufactures pumps, manufactures branded private label pumps, and provides products and process lines for the water and wastewater treatment industries.

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.

Sales are shown net of intersegment eliminations.
Segment information is prepared on the same basis that our Chief Executive Officer, who is our chief operating decision maker (“CODM”), manages the segments, evaluates financial results, and makes key operating decisions.

These segments were determined primarily on the distribution channels of the products and services offered and the nature of the customer markets and the primary driver of the customers spend. The Company's CODM directs the allocation of resources to these segments based upon historical and current revenue, direct operating expenses, operating income, and capital expenditures of each respective segment. The allocation of resources across these segments is dependent upon, among other factors, the segments' historical or future expected operating margins; the segments' historical or future expected returns on capital; outlook within a specific market; opportunities to grow profitability; new products, services or new customer accounts; confidence in management; and competitive landscape and intensity.

As a part of the Company's annual business planning, the CODM reviews our reportable segment composition and financial performance. As a result of this review, on January 1st, 2025, we moved certain branch locations previously reported under our IPS segment to our SC segment. Prior period segment information has not been recast, as the changes to our segment composition did not have a material impact on the operating results of our reportable segments.

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

Three Months Ended September 30, 2025
Service Center
Innovative Pumping Solutions
Supply Chain Services
Total Reportable Segments
Corporate
Total
Sales
$350,179 $100,551 $62,994 $513,724 $— $513,724 
Operating expenses
296,817 81,147 57,635 435,599 — 435,599 
Other expenses
Depreciation995 774 8 1,777 1,034 2,811 
Amortization of finance lease assets
1,021 231 47 1,299 443 1,742 
Other(1)
— — — — 29,874 29,874 
Operating income (loss)$51,346 $18,399 $5,304 $75,049 $(31,351)$43,698 
Interest expense— — — — 14,894 14,894 
Other income, net— — — — (648)(648)
Income (loss) before income taxes$51,346 $18,399 $5,304 $75,049 $(45,597)$29,452 
Capital expenditures936 $1,082 $— 2,018 $4,722 $6,740 
(1). Other primarily includes selling, general and administrative expenses of $24.5 million and amortization of intangible assets of $5.4 million.
Three Months Ended September 30, 2024
Service Center
Innovative Pumping Solutions
Supply Chain Services
Total Reportable Segments
Corporate
Total
Sales
$316,831 $89,825 $66,279 $472,935 $— $472,935 
Operating expenses
269,034 70,614 60,671 400,319 — 400,319 
Other expenses
Depreciation807 848 8 1,663 702 2,365 
Amortization of finance lease assets
835 156 32 1,023 87 1,110 
Other(1)
— — — — 29,533 29,533 
Operating income (loss)$46,155 $18,207 $5,568 $69,930 $(30,322)$39,608 
Interest expense— — — — 15,716 15,716 
Other income, net— — — — 160 160 
Income (loss) before income taxes$46,155 $18,207 $5,568 $69,930 $(46,198)$23,732 
Capital expenditures$1,034 $920 $— $1,954 $2,000 $3,954 
(1). Other primarily includes selling, general and administrative expenses of $24.3 million and amortization of intangible assets of $5.2 million.
Nine Months Ended September 30, 2025
Service Center
Innovative Pumping Solutions
Supply Chain Services
Total Reportable Segments
Corporate
Total
Sales
$1,016,985 $280,273 $191,717 $1,488,975 $— $1,488,975 
Operating expenses
862,649 226,832 175,470 1,264,951 — 1,264,951 
Other expenses
Depreciation2,864 2,336 24 5,224 2,423 7,647 
Amortization of finance lease assets
2,911 657 127 3,695 1,151 4,846 
Other(1)
— — — — 81,332 81,332 
Operating income (loss)$148,561 $50,448 $16,096 $215,105 $(84,906)$130,199 
Interest expense— — — — 44,298 44,298 
Other income, net— — — — (2,320)(2,320)
Income (loss) before income taxes$148,561 $50,448 $16,096 $215,105 $(126,884)$88,221 
Capital expenditures$3,434 $2,568 $— $6,002 $30,998 $37,000 
(1). Other primarily includes selling, general and administrative expenses of $65.2 million and amortization of intangible assets of $16.1 million.

Nine Months Ended September 30, 2024
Service Center
Innovative Pumping Solutions
Supply Chain Services
Total Reportable Segments
Corporate
Total
Sales
$911,783 $225,417 $193,926 $1,331,126 $— $1,331,126 
Operating expenses
776,565 183,980 177,155 1,137,700 — 1,137,700 
Other Expenses
Depreciation2,334 2,547 24 4,905 1,916 6,821 
Amortization of finance lease assets
2,554 347 94 2,995 236 3,231 
Other(1)
— — — — 77,283 77,283 
Operating income (loss)$130,330 $38,543 $16,653 $185,526 $(79,435)$106,091 
Interest expense— — — — 46,644 46,644 
Other income, net— — — — (2,844)(2,844)
Income (loss) before income taxes$130,330 $38,543 $16,653 $185,526 $(123,235)$62,291 
Capital expenditures$3,089 $2,564 $13 $5,666 $10,007 $15,673 
(1). Other primarily includes selling, general and administrative expenses of $63.0 million and amortization of intangible assets of $14.3 million.

The following table sets forth total assets related to the Company's segments (in thousands):

 September 30, 2025December 31, 2024
Service Centers$816,858 $764,533 
Innovative Pumping Solutions322,587 311,429 
Supply Chain Services
90,383 62,760 
Total Reportable Segments Assets
$1,229,828 $1,138,722 
Corporate 214,626 210,772 
Total Assets$1,444,454 $1,349,494