Intra-Segment and Inter-Segment Revenues

A reconciliation of total segment sales to total consolidated sales, as well as total segment profit from operations to total consolidated net loss before taxes is as follows for the three months ended September 30, 2026:


(in thousands)	Thermal Solutions			Engineered Systems		Industrial Process Solutions		Total
Net sales	$	148,463		$	194,257	$	61,708	$	404,428
Direct cost of sales		106,868			117,102		43,442
Shop burden		(229	)		4,904		2,241
Selling expense		11,317			8,194		2,795
Project engineering expense		2,506			4,650		2,489
General and administrative expense		20,864			9,361		1,355
Segment profit		7,137			50,046		9,386		66,569
Share-based compensation									6,397
Amortization of intangible assets									15,316
Other corporate expenses(1)									34,329
Interest expense									11,060
Other profit or loss(2)									2,402
Total consolidated loss before income taxes								$	(2,935	)

(1) Includes acquisition and integration expense, corporate compensation, professional services and information technology expenses, and other general and administrative corporate expenses.
(2) Includes foreign exchange (gain) loss.

A reconciliation of total segment sales to total consolidated sales, as well as total segment profit from operations to total consolidated net loss before taxes is as follows for the nine months ended September 30, 2026:


(in thousands)	Thermal Solutions		Engineered Systems		Industrial Process Solutions		Total
Net sales	$	198,069	$	518,466	$	178,773	$	895,308
Direct cost of sales		144,956		323,066		124,128
Shop burden		370		13,899		8,401
Selling expense		15,079		24,780		8,802
Project engineering expense		3,356		12,960		7,192
General and administrative expense		25,659		27,893		5,507
Segment profit		8,649		115,868		24,743		149,260
Share-based compensation								19,245
Amortization of intangible assets								27,108
Other corporate expenses(1)								123,693
Interest expense								24,392
Other profit or loss(2)								6,082
Total consolidated loss before income taxes							$	(51,260	)

(1) Includes acquisition and integration expense, corporate compensation, professional services and information technology expenses, and other general and administrative corporate expenses.
(2) Includes foreign exchange (gain) loss.

A reconciliation of total segment sales to total consolidated sales, as well as total segment profit to total consolidated net income before taxes is as follows for the three months ended September 30, 2025:


(in thousands)	Engineered Systems		Industrial Process Solutions		Total
Net sales	$	143,692	$	53,907	$	197,599
Direct cost of sales		90,352		35,698
Shop burden		4,003		2,957
Selling expense		7,813		3,080
Project engineering expense		4,183		2,843
General and administrative expense		7,513		2,428
Loss (gain) on sale of Global Pump Solutions business		—		801
Segment profit		29,828		6,101		35,929
Share-based compensation						3,273
Amortization of intangible assets						6,144
Other corporate expenses(1)						17,112
Interest expense						5,054
Other profit or loss(2)						2,056
Total consolidated income before income taxes					$	2,290

(1) Includes corporate compensation, professional services and information technology expenses, and other general and administrative corporate expenses.
(2) Includes foreign exchange (gain) loss.

A reconciliation of total segment sales to total consolidated sales, as well as total segment profit to total consolidated net income before taxes is as follows for the nine months ended September 30, 2025:


(in thousands)	Engineered Systems		Industrial Process Solutions			Total
Net sales	$	392,586	$	167,102		$	559,687
Direct cost of sales		240,056		107,414
Shop burden		10,272		8,081
Selling expense		23,578		9,667
Project engineering expense		13,641		8,518
General and administrative expense		25,738		8,975
Gain on sale of Global Pump Solutions business		—		(63,701	)
Segment profit		79,300		88,147			167,447
Share-based compensation							9,507
Amortization of intangible assets							12,177
Other corporate expenses(1)							56,432
Interest expense							16,169
Other profit or loss(2)							1,196
Total consolidated income before income taxes						$	71,966

(1) Includes corporate compensation, professional services and information technology expenses, and other general and administrative corporate expenses.
(2) Includes foreign exchange (gain) loss and pension expense.

Long-Lived Assets By Geographic Area

Non-current assets by geographic area are as follows:


(in thousands)	September 30, 2026		December 31, 2025
United States	$	2,545,457	$	359,584
China		42,336		39,205
United Kingdom		24,734		27,761
Canada		64,256		8,492
Other		66,177		48,545
Total long-lived assets	$	2,742,960	$	483,587