Business Segment Information (Tables)

3 Months Ended

Mar. 31, 2016

Net Sales and Income from Operation by Business Segment

The financial segment information is presented in the following tables:

	Three Months Ended March 31,
(dollars in thousands)	2016			2015
Net Sales (less intra-, inter-segment sales)
Environmental Segment	$	39,122		$	41,716
Energy Segment		47,932			24,349
Fluid Handling and Filtration Segment		16,595			15,194
Corporate and Other⁽¹⁾		(474	)		(274	)
Net sales	$	103,175		$	80,985

⁽¹⁾	Includes adjustment for revenue on intercompany jobs.

	Three Months Ended March 31,
(dollars in thousands)	2016			2015
Income from Operations
Environmental Segment	$	4,746		$	4,018
Energy Segment		5,196			420
Fluid Handling and Filtration Segment		3,198			2,956
Corporate and Other⁽²⁾		(6,920	)		(3,817	)
Eliminations		(413	)		(598	)
Income from operations	$	5,807		$	2,979

⁽²⁾	Includes corporate compensation, professional services, information technology, acquisition and integration expenses, and other general and administrative corporate expenses.

Property and Equipment Additions, Depreciation and Amortization and Identifiable Assets

	Three Months Ended March 31,
(dollars in thousands)	2016		2015
Property and Equipment Additions
Environmental Segment	$	113	$	64
Energy Segment		86		40
Fluid Handling and Filtration Segment		9		5
Corporate and Other		4		10
Property and equipment additions	$	212	$	119

	Three Months Ended March 31,
(dollars in thousands)	2016		2015
Depreciation and Amortization
Environmental Segment	$	967	$	1,153
Energy Segment		2,802		671
Fluid Handling and Filtration Segment		1,394		1,596
Corporate and Other		32		32
Depreciation and Amortization	$	5,195	$	3,452

(dollars in thousands)	March 31, 2016		December 31, 2015
Identifiable Assets
Environmental Segment	$	126,110	$	135,171
Energy Segment		278,360		283,002
Fluid Handling and Filtration Segment		160,286		161,394
Corporate and Other⁽³⁾		17,142		19,252
Identifiable Assets	$	581,898	$	598,819

⁽³⁾	Corporate assets primarily consist of cash and income tax related assets.

Goodwill

(dollars in thousands)	March 31, 2016		December 31, 2015
Goodwill
Environmental Segment	$	55,031	$	55,031
Energy Segment		73,629		72,075
Fluid Handling and Filtration Segment		93,057		93,057
Goodwill	$	221,717	$	220,163

Intra-Segment and Inter-Segment Revenues

The Company has multiple divisions that sell to each other within segments (intra-segment sales) and between segments (inter-segment sales) as indicated in the following tables:

	Three Months Ended March 31, 2016
						Less Inter-Segment Sales
(dollars in thousands)	Total Sales		Intra- Segment Sales			Environmental			Energy			FHF			Corp and Other			Net Sales to Outside Customers
Net Sales
Environmental Segment	$	42,053	$	(1,754	)	$	—		$	(1,040	)	$	(137	)	$	—		$	39,122
Energy Segment		48,581		(491	)		(158	)		—			—			—			47,932
Fluid Handling and Filtration Segment		17,012		(403	)		(14	)		—			—			—			16,595
Corporate and Other⁽⁴⁾		—		—			—			—			—			(474	)		(474	)
Net Sales	$	107,646	$	(2,648	)	$	(172	)	$	(1,040	)	$	(137	)	$	(474	)	$	103,175

	Three Months Ended March 31, 2015
						Less Inter-Segment Sales
(dollars in thousands)	Total Sales		Intra- Segment Sales			Environmental			Energy			FHF		Corp and Other			Net Sales to Outside Customers
Net Sales
Environmental Segment	$	43,557	$	(1,807	)	$	—		$	(34	)	$	—	$	—		$	41,716
Energy Segment		25,081		(695	)		(37	)		—			—		—			24,349
Fluid Handling and Filtration Segment		15,734		(452	)		(88	)		—			—		—			15,194
Corporate and Other⁽⁴⁾		—		—			—			—			—		(274	)		(274	)
Net Sales	$	84,372	$	(2,954	)	$	(125	)	$	(34	)	$	—	$	(274	)	$	80,985

⁽⁴⁾	Includes adjustment for revenue on intercompany jobs.