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Segment Data (Tables)
 9 Months Ended
Sep. 30, 2012
Segment Data [Abstract]  
Summary of key segment information
The Company operates within business segments - Oilfield and Power Transmission. The two operating segments are supported by a common corporate group. Corporate expenses and certain assets are allocated to the operating segments based primarily upon third-party revenues. Inter-segment sales and transfers are accounted for as if the sales and transfers were to third parties, that is, at current market prices, as available. The accounting policies of the segments are the same as those described in the summary of significant accounting policies in the notes to the consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2011. The following is a summary of key segment information (in thousands of dollars):

Three Months Ended September 30, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Power
 
 
Corporate
 
 
 
 
 
Oilfield
 
 
Transmission
 
 
& Other
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross sales
 
$
291,200
 
 
$
51,238
 
 
$
-
 
 
$
342,438
 
Inter-segment sales
 
 
(1,273
)
 
 
(820
)
 
 
-
 
 
 
(2,093
)
Net sales
 
$
289,927
 
 
$
50,418
 
 
$
-
 
 
$
340,345
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating income (loss)
 
$
43,430
 
 
$
(1,145
)
 
$
-
 
 
$
42,285
 
Other (expense) income, net
 
 
(3,514
)
 
 
15
 
 
 
171
 
 
 
(3,328
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss) before income tax provision
 
$
39,916
 
 
$
(1,130
)
 
$
171
 
 
$
38,957
 
 
Three Months Ended September 30, 2011
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Power
 
 
Corporate
 
 
 
 
 
Oilfield
 
 
Transmission
 
 
& Other
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross sales
 
$
184,857
 
 
$
51,555
 
 
$
-
 
 
$
236,412
 
Inter-segment sales
 
 
(1,352
)
 
 
(3,346
)
 
 
-
 
 
 
(4,698
)
Net sales
 
$
183,505
 
 
$
48,209
 
 
$
-
 
 
$
231,714
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating income
 
$
21,011
 
 
$
2,954
 
 
$
-
 
 
$
23,965
 
Other (expense) income, net
 
 
(11
)
 
 
21
 
 
 
(160
)
 
 
(150
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss) before income tax provision
 
$
21,000
 
 
$
2,975
 
 
$
(160
)
 
$
23,815
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Power
 
 
Corporate
 
 
 
 
 
 
Oilfield
 
 
Transmission
 
 
& Other
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross sales
 
$
785,801
 
 
$
153,415
 
 
$
-
 
 
$
939,216
 
Inter-segment sales
 
 
(6,563
)
 
 
(7,127
)
 
 
-
 
 
 
(13,690
)
Net sales
 
$
779,238
 
 
$
146,288
 
 
$
-
 
 
$
925,526
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating income
 
$
97,687
 
 
$
2,447
 
 
$
-
 
 
$
100,134
 
Other (expense) income, net
 
 
(9,840
)
 
 
54
 
 
 
(714
)
 
 
(10,500
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss) before income tax provision
 
$
87,847
 
 
$
2,501
 
 
$
(714
)
 
$
89,634
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2011
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Power
 
 
Corporate
 
 
 
 
 
 
Oilfield
 
 
Transmission
 
 
& Other
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross sales
 
$
520,776
 
 
$
145,224
 
 
$
-
 
 
$
666,000
 
Inter-segment sales
 
 
(4,627
)
 
 
(8,503
)
 
 
-
 
 
 
(13,130
)
Net sales
 
$
516,149
 
 
$
136,721
 
 
$
-
 
 
$
652,870
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating income
 
$
63,136
 
 
$
9,299
 
 
$
-
 
 
$
72,435
 
Other (expense) income, net
 
 
(148
)
 
 
43
 
 
 
(310
)
 
 
(415
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss) before income tax provision
 
$
62,988
 
 
$
9,342
 
 
$
(310
)
 
$
72,020