Business Segments (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Business Segment Net Sales and Income before Income Taxes

Presented below are the net sales and income before income taxes for the Corporation’s two business segments.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
Net sales:
Forged and Cast Engineered Products	$	73,625		$	75,511		$	228,004		$	229,848
Air and Liquid Processing		28,593			24,136			86,228			66,807
Total Reportable Segments	$	102,218		$	99,647		$	314,232		$	296,655
Income before income taxes:
Forged and Cast Engineered Products (1)	$	1,448		$	215		$	7,576		$	2,092
Air and Liquid Processing (2)		3,456			2,917			9,386			8,177
Total Reportable Segments		4,904			3,132			16,962			10,269
Other expense, including corporate costs		(3,593	)		(734	)		(13,205	)		(4,587	)
Total	$	1,311		$	2,398		$	3,757		$	5,682

(1) Income before income taxes for the Forged and Cast Engineered Products segment for the nine months ended September 30, 2023 includes proceeds of approximately $1,874 for the reimbursement of past energy costs at one of the Corporation's foreign operations by its local government. No future performance or conditions exist related to the reimbursement and, currently, no further reimbursements are expected.

(2) Income before income taxes for the Air and Liquid Processing segment for the three and nine months ended September 30, 2023 includes proceeds of approximately $191 from an insolvent asbestos-related insurance carrier.