Business Segment Information (Tables)

6 Months Ended

Jun. 30, 2018

Net Sales and Income from Operation by Business Segment

The financial segment information is presented in the following tables:

	Three Months Ended June 30,					Six Months Ended June 30,
(dollars in thousands)	2018			2017		2018		2017
Net Sales (less intra-, inter-segment sales)
Energy Solutions Segment	$	51,136		$	52,499	$	91,109	$	106,208
Industrial Solutions Segment		18,324			22,796		36,121		46,099
Fluid Handling Solutions Segment		11,791			18,348		27,999		34,164
Corporate and Other⁽¹⁾		(162	)		227		—		50
Net sales	$	81,089		$	93,870	$	155,229	$	186,521

⁽¹⁾	Includes adjustment for revenue on intercompany jobs.

	Three Months Ended June 30,						Six Months Ended June 30,
(dollars in thousands)	2018			2017			2018			2017
Income from Operations
Energy Solutions Segment	$	5,901		$	10,535		$	9,525		$	14,359
Industrial Solutions Segment		1,273			1,935			2,642			4,669
Fluid Handling Solutions Segment		2,182			4,148			5,392			7,457
Corporate and Other⁽²⁾		(6,539	)		(6,935	)		(2,025	)		(14,782	)
Eliminations		(236	)		(428	)		(822	)		(1,098	)
Income from operations	$	2,581		$	9,255		$	14,712		$	10,605

⁽²⁾

Includes gain on divestitures, net of selling costs, corporate compensation, professional services, information technology, executive transition expenses, acquisition and integration expenses, and other general and administrative corporate expenses. This figure excludes earnout expenses, which are recorded in the segment in which the expense occurs. See Note 7 for the earnout expenses by segment.

Property and Equipment Additions, Depreciation and Amortization and Identifiable Assets

	Three Months Ended June 30,				Six Months Ended June 30,
(dollars in thousands)	2018		2017		2018		2017
Property and Equipment Additions
Energy Solutions Segment	$	15	$	116	$	32	$	352
Industrial Solutions Segment		90		31		165		40
Fluid Handling Solutions Segment		11		70		284		219
Corporate and Other		10		14		110		30
Property and equipment additions	$	126	$	231	$	591	$	641

	Three Months Ended June 30,				Six Months Ended June 30,
(dollars in thousands)	2018		2017		2018		2017
Depreciation and Amortization
Energy Solutions Segment	$	2,190	$	2,417	$	4,348	$	4,935
Industrial Solutions Segment		205		391		487		782
Fluid Handling Solutions Segment		1,002		1,197		1,996		2,395
Corporate and Other		62		25		125		56
Depreciation and amortization	$	3,459	$	4,030	$	6,956	$	8,168

(dollars in thousands)	June 30, 2018		December 31, 2017
Identifiable Assets
Energy Solutions Segment	$	278,901	$	258,218
Industrial Solutions Segment		56,352		66,723
Fluid Handling Solutions Segment		75,703		100,917
Corporate and Other⁽³⁾		10,445		12,691
Identifiable assets	$	421,401	$	438,549

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

Goodwill

(dollars in thousands)	June 30, 2018		December 31, 2017
Goodwill
Energy Solutions Segment	$	98,145	$	98,408
Industrial Solutions Segment		22,419		22,419
Fluid Handling Solutions Segment		31,807		46,124
Goodwill	$	152,371	$	166,951

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 June 30, 2018
						Less Inter-Segment Sales
(dollars in thousands)	Total Sales		Intra- Segment Sales			Industrial			Energy			Fluid			Corp and Other			Net Sales to Outside Customers
Net Sales
Energy Solutions Segment	$	53,322	$	(1,929	)	$	(252	)	$	—		$	(5	)	$	—		$	51,136
Industrial Solutions Segment		19,670		(813	)		—			(533	)		—			—			18,324
Fluid Handling Solutions Segment		12,409		(295	)		(323	)		—			—			—			11,791
Corporate and Other⁽⁴⁾		—		—			—			—			—			(162	)		(162	)
Net Sales	$	85,401	$	(3,037	)	$	(575	)	$	(533	)	$	(5	)	$	(162	)	$	81,089

	Three Months Ended June 30, 2017
						Less Inter-Segment Sales
(dollars in thousands)	Total Sales		Intra- Segment Sales			Industrial			Energy			Fluid			Corp and Other		Net Sales to Outside Customers
Net Sales
Energy Solutions Segment	$	55,338	$	(2,839	)	$	—		$	—		$	—		$	—	$	52,499
Industrial Solutions Segment		23,635		(800	)		—			—			(39	)		—		22,796
Fluid Handling Solutions Segment		19,160		(539	)		(258	)		(15	)		—			—		18,348
Corporate and Other⁽⁴⁾		—		—			—			—			—			227		227
Net Sales	$	98,133	$	(4,178	)	$	(258	)	$	(15	)	$	(39	)	$	227	$	93,870

	Six Months Ended June 30, 2018
						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
Engineered Equipment Segment	$	96,450	$	(4,398	)	$	(938	)		—		$	(5	)		—	$	91,109
Air Quality Segment		38,398		(1,604	)		—			(673	)		—			—	$	36,121
Fluid Handling Solutions Segment		29,175		(809	)		(367	)		—			—			—	$	27,999
Corporate and Other⁽⁴⁾		—		—			—			—			—			—	$	—
Net Sales	$	164,023	$	(6,811	)	$	(1,305	)	$	(673	)	$	(5	)	$	—	$	155,229

	Six Months Ended June 30, 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
Engineered Equipment Segment	$	111,377	$	(5,147	)	$	(22	)		—			—			—	$	106,208
Air Quality Segment		48,557		(1,690	)		—			(729	)		(39	)		—	$	46,099
Fluid Handling Solutions Segment		35,852		(1,157	)		(422	)		(109	)		—			—	$	34,164
Corporate and Other⁽⁴⁾		—		—			—			—			—			50	$	50
Net Sales	$	195,786	$	(7,994	)	$	(444	)	$	(838	)	$	(39	)	$	50	$	186,521

⁽⁴⁾	Includes adjustment for revenue on intercompany jobs.