Segments (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Schedule of Reporting Information by Segment

Summarized segment detail for the quarters and nine months ended September 30, 2022 and 2021 are presented in the following table:

	For the Quarter Ended September 30,						For the Nine Months Ended September 30,
	2022			2021			2022			2021
Net Sales
Material Handling	$	155,658		$	149,664		$	505,384		$	416,784
Distribution		72,416			50,413			181,352			145,119
Inter-company sales		(9	)		(19	)		(29	)		(47	)
Total net sales	$	228,065		$	200,058		$	686,707		$	561,856
Operating income
Material Handling (1)	$	23,962		$	15,066		$	83,216		$	49,895
Distribution (2)		4,899			4,377			12,469			10,029
Corporate (2) (3)		(8,964	)		(7,626	)		(28,766	)		(21,373	)
Total operating income		19,897			11,817			66,919			38,551
Interest expense, net		(1,719	)		(1,056	)		(4,077	)		(3,050	)
Income before income taxes	$	18,178		$	10,761		$	62,842		$	35,501

(1)In the nine months ended September 30, 2021, the Company recognized a $1.0 million gain on the sale of a building within the Material Handling Segment as described in Note 4.

(2)In the nine months ended September 30, 2021, the Company recognized $0.8 million of executive severance, of which $0.5 million was recognized in the Distribution Segment and $0.3 million was recognized in Corporate. This executive severance cost includes $0.5 million of severance and benefits and $0.3 million of charges for acceleration of stock compensation.

(3)In the quarter and nine months ended September 30, 2022, the Company recognized $1.5 million and $2.8 million, respectively, of charges to increase the estimated environmental liability as described in Note 10. Environmental charges are not included in segment results and are shown with Corporate.