Industry Segments (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Schedule of Reporting Information by Segment

Summarized segment detail for the quarters and six months ended June 30, 2021 and 2020 are presented in the following table:

	For the Quarter Ended June 30,						For the Six Months Ended June 30,
	2021			2020			2021			2020
Net Sales
Material Handling	$	137,227		$	80,855		$	267,120		$	164,931
Distribution		50,156			37,541			94,706			75,736
Inter-company sales		(14	)		(2	)		(28	)		(23	)
Total net sales	$	187,369		$	118,394		$	361,798		$	240,644
Operating income
Material Handling (3)	$	17,902		$	15,796		$	34,829		$	30,963
Distribution (1)		4,214			1,636			5,652			3,486
Corporate (1) (2)		(6,247	)		(5,176	)		(13,747	)		1,105
Total operating income		15,869			12,256			26,734			35,554
Interest expense, net		(999	)		(1,194	)		(1,994	)		(2,263	)
Income before income taxes	$	14,870		$	11,062		$	24,740		$	33,291

(1) In the six months ended June 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.

(2) In the six months ended June 30, 2020, the Company recognized in Corporate an $11.9 million gain on the sale of notes receivable as described in Note 4.

(3) In the quarter and six months ended June 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 5.