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SEGMENT REPORTING
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
We have three reportable and operating segments: Service Centers, Innovative Pumping Solutions and Supply Chain Services.

The Service Centers segment is engaged in providing maintenance, MRO products and equipment, including logistics capabilities, to industrial customers. The Service Centers segment provides a wide range of MRO products in the rotating equipment, bearing, power transmission, hose, fluid power, metal working, fastener, industrial supply, safety products and safety services categories.

The Innovative Pumping Solutions segment fabricates and assembles custom-made pump packages, re-manufactures pumps, manufactures branded private label pumps, and provides products and process lines for the water and wastewater treatment industries.

The Supply Chain Services segment provides a wide range of MRO products and manages all or part of a customer's supply chain, including warehouse and inventory management.

Sales are shown net of intersegment eliminations.

Segment information is prepared on the same basis that our Chief Executive Officer, who is our chief operating decision maker (“CODM”), manages the segments, evaluates financial results, and makes key operating decisions.

These segments were determined primarily on the distribution channels of the products and services offered and the nature of the customer markets and the primary driver of the customers spend. The Company's CODM directs the allocation of resources to these segments based upon historical and current revenue, direct operating expenses, operating income, and capital expenditures of each respective segment. The allocation of resources across these segments is dependent upon, among other factors, the segments' historical or future expected operating margins; the segments' historical or future expected returns on capital; outlook within a specific market; opportunities to grow profitability; new products, services or new customer accounts; confidence in management; and competitive landscape and intensity.

As a part of the Company's annual business planning, the CODM reviews our reportable segment composition and financial performance. As of March 31, 2026, there was no change to our reportable segment composition.
The following table sets forth financial information related to the Company's segments (in thousands):

Three Months Ended March 31, 2026
Service Center
Innovative Pumping Solutions
Supply Chain Services
Total Reportable Segments
Corporate
Total
Sales
$337,976 $118,660 $65,022 $521,658 $— $521,658 
Operating expenses
285,714 95,794 58,529 440,037 — 440,037 
Other expenses
Depreciation1,027 872 7 1,906 1,040 2,946 
Amortization of finance lease assets
1,560 322 72 1,954 134 2,088 
Other(1)
— — — — 34,113 34,113 
Operating income (loss)$49,675 $21,672 $6,414 $77,761 $(35,287)$42,474 
Interest expense— — — — 16,443 16,443 
Other income, net— — — — (594)(594)
Income (loss) before income taxes$49,675 $21,672 $6,414 $77,761 $(51,136)$26,625 
Capital expenditures1,721 $651 $— 2,372 $922 $3,294 
(1). Other primarily includes selling, general and administrative expenses of $27.1 million and amortization of intangible assets of $7.0 million.

Three Months Ended March 31, 2025
Service Center
Innovative Pumping Solutions
Supply Chain Services
Total Reportable Segments
Corporate
Total
Sales
$327,075 $86,182 $63,312 $476,569 $— $476,569 
Operating expenses
277,956 71,789 57,699 407,444 — 407,444 
Other expenses
Depreciation937 795 8 1,740 576 2,316 
Amortization of finance lease assets
1,137 192 41 1,370 93 1,463 
Other(1)
— — — — 24,831 24,831 
Operating income (loss)$47,045 $13,406 $5,564 $66,015 $(25,500)$40,515 
Interest expense— — — — 14,660 14,660 
Other income, net— — — — (1,318)(1,318)
Income (loss) before income taxes$47,045 $13,406 $5,564 $66,015 $(38,842)$27,173 
Capital expenditures$2,037 $574 $— $2,611 $17,303 $19,914 
(1). Other primarily includes selling, general and administrative expenses of $19.4 million and amortization of intangible assets of $5.4 million.

The following table sets forth total assets related to the Company's segments (in thousands):

 March 31, 2026December 31, 2025
Service Centers$832,375 $820,289 
Innovative Pumping Solutions516,902 383,201 
Supply Chain Services
101,627 95,045 
Total Reportable Segments Assets
$1,450,904 $1,298,535 
Corporate 273,878 386,620 
Total Assets$1,724,782 $1,685,155