Industry Segments (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Schedule of Reporting Information by Segment

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

	For the Quarter Ended September 30,						For the Nine Months Ended September 30,
	2021			2020			2021			2020
Net Sales
Material Handling	$	149,664		$	86,769		$	416,784		$	251,700
Distribution		50,413			45,517			145,119			121,253
Inter-company sales		(19	)		(28	)		(47	)		(51	)
Total net sales	$	200,058		$	132,258		$	561,856		$	372,902
Operating income
Material Handling (3)	$	15,066		$	15,593		$	49,895		$	46,556
Distribution (1)		4,377			5,091			10,029			8,577
Corporate (1) (2) (4)		(7,626	)		(7,544	)		(21,373	)		(6,439	)
Total operating income		11,817			13,140			38,551			48,694
Interest expense, net		(1,056	)		(1,204	)		(3,050	)		(3,467	)
Income before income taxes	$	10,761		$	11,936		$	35,501		$	45,227

(1) 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.

(2) In the nine months ended September 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 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 5.

(4) In the three and nine months ended September 30, 2021, the Company incurred in Corporate acquisition and integration costs totaling $0.5 million and $0.8 million, respectively, related to the Trilogy and Elkhart Plastics acquisitions described in Note 3.