Business Segment Information (Tables)

3 Months Ended

Mar. 31, 2017

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)	2017			2016
Net Sales (less intra-, inter-segment sales)
Energy Segment	$	41,083		$	47,932
Environmental Segment		35,929			39,122
Fluid Handling and Filtration Segment		15,816			16,595
Corporate and Other⁽¹⁾		(177	)		(474	)
Net sales	$	92,651		$	103,175

⁽¹⁾	Includes adjustment for revenue on intercompany jobs.

	Three Months Ended March 31,
(dollars in thousands)	2017			2016
Income from Operations
Energy Segment	$	1,613		$	5,196
Environmental Segment		5,109			4,746
Fluid Handling and Filtration Segment		3,309			3,198
Corporate and Other⁽²⁾		(8,011	)		(6,920	)
Eliminations		(670	)		(413	)
Income from Operations	$	1,350		$	5,807

⁽²⁾

Includes corporate compensation, professional services, information technology, executive transition expenses, acquisition and integration expenses, and other general and administrative corporate expenses. This figure excludes earn-out expenses, which are recorded in the segment in which the expense occurs. See Note 7 for the earn-out expenses by segment.

Property and Equipment Additions, Depreciation and Amortization and Identifiable Assets

	Three Months Ended March 31,
(dollars in thousands)	2017		2016
Property and Equipment Additions
Energy Segment	$	236	$	86
Environmental Segment		9		113
Fluid Handling and Filtration Segment		149		9
Corporate and Other		16		4
Property and Equipment Additions	$	410	$	212

	Three Months Ended March 31,
(dollars in thousands)	2017		2016
Depreciation and Amortization
Energy Segment	$	2,064	$	2,802
Environmental Segment		845		967
Fluid Handling and Filtration Segment		1,198		1,394
Corporate and Other		31		32
Depreciation and Amortization	$	4,138	$	5,195

(dollars in thousands)	March 31, 2017		December 31, 2016
Identifiable Assets
Energy Segment	$	240,841	$	257,566
Environmental Segment		119,044		118,680
Fluid Handling and Filtration Segment		104,007		104,294
Corporate and Other⁽³⁾		18,412		18,094
Identifiable Assets	$	482,304	$	498,634

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

Goodwill

(dollars in thousands)	March 31, 2017		December 31, 2016
Goodwill
Energy Segment	$	75,967	$	75,827
Environmental Segment		48,203		48,203
Fluid Handling and Filtration Segment		46,123		46,123
Goodwill	$	170,293	$	170,153

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, 2017
						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
Energy Segment	$	43,413	$	(2,308	)	$	(22	)	$	—		$	—	$	—		$	41,083
Environmental Segment		37,548		(890	)		—			(729	)		—		—			35,929
Fluid Handling and Filtration Segment		16,692		(618	)		(164	)		(94	)		—		—			15,816
Corporate and Other⁽⁴⁾		—		—			—			—			—		(177	)		(177	)
Net Sales	$	97,653	$	(3,816	)	$	(186	)	$	(823	)	$	—	$	(177	)	$	92,651

	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
Energy Segment	$	48,581	$	(491	)	$	(158	)	$	—		$	—		$	—		$	47,932
Environmental Segment		42,053		(1,754	)		—			(1,040	)		(137	)		—			39,122
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

⁽⁴⁾	Includes adjustment for revenue on intercompany jobs.