Business Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Net Sales and Income from Operation by Business Segment

The financial segment information is presented in the following tables:

	Three months ended September 30,				Nine months ended September 30,
(dollars in thousands)	2020		2019		2020		2019
Net Sales (less intra-, inter-segment sales)
Energy Solutions Segment	$	49,709	$	48,847	$	149,429	$	154,606
Industrial Solutions Segment		18,716		26,983		55,736		65,920
Fluid Handling Solutions Segment		9,000		9,436		27,916		31,930
Net sales	$	77,425	$	85,266	$	233,081	$	252,456

	Three months ended September 30,						Nine months ended September 30,
(dollars in thousands)	2020			2019			2020			2019
Income from Operations
Energy Solutions Segment	$	7,276		$	7,633		$	24,479		$	23,275
Industrial Solutions Segment		101			2,794			1,593			3,911
Fluid Handling Solutions Segment		1,438			818			4,878			4,657
Corporate and Other(1)		(7,797	)		(7,186	)		(21,299	)		(20,878	)
Income from operations	$	1,018		$	4,059		$	9,651		$	10,965

⁽¹⁾ Includes corporate compensation, professional services, information technology, and other general and administrative corporate expenses.  

Property and Equipment Additions, Depreciation and Amortization and Identifiable Assets

	Three months ended September 30,				Nine months ended September 30,
(dollars in thousands)	2020		2019		2020		2019
Property and Equipment Additions
Energy Solutions Segment	$	148	$	57	$	446	$	218
Industrial Solutions Segment		—		59		215		222
Fluid Handling Solutions Segment		132		2,135		686		2,624
Corporate and Other		603		293		1,528		682
Property and equipment additions	$	883	$	2,544	$	2,875	$	3,746

	Three months ended September 30,				Nine months ended September 30,
(dollars in thousands)	2020		2019		2020		2019
Depreciation and Amortization
Energy Solutions Segment	$	1,245	$	1,544	$	3,690	$	4,684
Industrial Solutions Segment		475		327		1,123		998
Fluid Handling Solutions Segment		679		668		1,942		2,140
Corporate and Other		177		94		469		331
Depreciation and amortization	$	2,576	$	2,633	$	7,224	$	8,153

(dollars in thousands)	September 30, 2020		December 31, 2019
Identifiable Assets
Energy Solutions Segment	$	265,858	$	254,752
Industrial Solutions Segment		72,931		64,725
Fluid Handling Solutions Segment		67,118		71,572
Corporate and Other(2)		16,183		17,588
Identifiable assets	$	422,090	$	408,637

⁽²⁾ Corporate and Other assets consist primarily of cash and income tax related assets.

Goodwill

(dollars in thousands)	September 30, 2020		December 31, 2019
Goodwill
Energy Solutions Segment	$	99,317	$	97,007
Industrial Solutions Segment		30,458		23,436
Fluid Handling Solutions Segment		31,577		31,577
Goodwill	$	161,352	$	152,020

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 September 30, 2020
						Less Inter-Segment Sales
(dollars in thousands)	Total Sales		Intra- Segment Sales			Industrial			Energy			Fluid			Net Sales to Outside Customers
Net Sales
Energy Solutions Segment	$	51,203	$	(1,071	)	$	(217	)	$	—		$	(206	)	$	49,709
Industrial Solutions Segment		21,741		(2,914	)		—			(111	)		—			18,716
Fluid Handling Solutions Segment		9,203		(185	)		(18	)		—			—			9,000
Net Sales	$	82,147	$	(4,170	)	$	(235	)	$	(111	)	$	(206	)	$	77,425

	Three months ended September 30, 2019
						Less Inter-Segment Sales
(dollars in thousands)	Total Sales		Intra- Segment Sales			Industrial			Energy			Fluid		Net Sales to Outside Customers
Net Sales
Energy Solutions Segment	$	51,083	$	(2,134	)	$	(102	)	$	—		$	—	$	48,847
Industrial Solutions Segment		29,269		(2,227	)		—			(59	)		—		26,983
Fluid Handling Solutions Segment		9,823		(362	)		(25	)		—			—		9,436
Net Sales	$	90,175	$	(4,723	)	$	(127	)	$	(59	)	$	—	$	85,266

	Nine months ended September 30, 2020
						Less Inter-Segment Sales
(dollars in thousands)	Total Sales		Intra- Segment Sales			Industrial			Energy			Fluid			Net Sales to Outside Customers
Net Sales
Energy Solutions Segment	$	159,181	$	(8,861	)	$	(446	)	$	—		$	(445	)	$	149,429
Industrial Solutions Segment		66,691		(10,038	)		—			(902	)		(15	)		55,736
Fluid Handling Solutions Segment		28,581		(633	)		(32	)		—			—			27,916
Net Sales	$	254,453	$	(19,532	)	$	(478	)	$	(902	)	$	(460	)	$	233,081

	Nine months ended September 30, 2019
						Less Inter-Segment Sales
(dollars in thousands)	Total Sales		Intra- Segment Sales			Industrial			Energy			Fluid			Net Sales to Outside Customers
Net Sales
Energy Solutions Segment	$	158,888	$	(3,998	)	$	(272	)	$	—		$	(12	)	$	154,606
Industrial Solutions Segment		73,794		(6,204	)		—			(1,617	)		(53	)		65,920
Fluid Handling Solutions Segment		33,189		(1,096	)		(163	)		—			—			31,930
Net Sales	$	265,871	$	(11,298	)	$	(435	)	$	(1,617	)	$	(65	)	$	252,456