Segment Data (Tables)

3 Months Ended

Mar. 31, 2013

Segment Data [Abstract]

Summary of key segment information

The Company operates within two 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, 2012. The following is a summary of key segment information (in thousands of dollars):

Three Months Ended March 31, 2013
				Power			Corporate
	Oilfield			Transmission			& Other		Total
Gross sales	$	276,643		$	44,139		$	-	$	320,782
Inter-segment sales		(2,046	)		(757	)		-		(2,803	)
Net sales	$	274,597		$	43,382		$	-	$	317,979
Operating income	$	28,105		$	1,801		$	-	$	29,906
Other (expense) income, net		(1,084	)		15			130		(939	)
Earnings before income tax provision	$	27,021		$	1,816		$	130	$	28,967

Three Months Ended March 31, 2012
				Power			Corporate
	Oilfield			Transmission			& Other			Total
Gross sales	$	240,290		$	47,936		$	-		$	288,226
Inter-segment sales		(4,283	)		(4,407	)		-			(8,690	)
Net sales	$	236,007		$	43,529		$	-		$	279,536
Operating income	$	22,473		$	1,521		$	-		$	23,994
Other expense, net		(3,178	)		(14	)		(576	)		(3,768	)
Earnings (loss) before income tax provision	$	19,295		$	1,507		$	(576	)	$	20,226