Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.22.0.1
Segment Information
 9 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
    We maintain four reportable segments based on four geographic countries or regions in which we operate: (i) United States and Latin America ("US-LAM"), (ii) Canada, (iii) Europe, Middle East and Africa ("EMEA") and (iv) Asia-Pacific ("APAC"). Within our four reportable segments, our core products and services are focused on the following markets: chemical and petrochemical, oil, gas, power generation, commercial, rail and transit, and other, which we refer to as our "key end markets." We offer a full suite of products (heating units, heating cables, temporary power solutions and tubing bundles), services (engineering, installation and maintenance services) and software (design optimization and wireless and network control systems) required to deliver comprehensive solutions to some of the world's largest and most complex projects. We report the results of our THS product line in all four reportable segments, and the results of our TPS product line in the US-LAM and Canada reportable segments. Each of our reportable segments serves a similar class of customers, including engineering, procurement and construction companies, international and regional oil and gas companies, commercial sub-contractors, electrical component distributors and direct sales to existing plant or industrial applications. Profitability within our segments is measured by operating income. Profitability can vary in each of our reportable segments based on the competitive environment within the region, the level of corporate overhead, such as the salaries of our senior executives and the level of research and development and marketing activities in the region, as well as the mix of products and services. For purposes of this note, revenue is attributed to individual countries or regions on the basis of the physical location and jurisdiction of organization of the subsidiary that invoices the material and services.
    Total sales to external customers, inter-segment sales, depreciation expense, amortization expense, income from operations, property, plant and equipment, net and total assets for each of our four reportable segments are as follows:
Three Months Ended December 31, 2021 Three Months Ended December 31, 2020 Nine Months Ended December 31, 2021 Nine Months Ended December 31, 2020
Sales to External Customers:    
United States and Latin America $ 49,827  $ 29,714  $ 102,925  $ 72,233 
Canada 31,054  24,992  81,428  63,521 
Europe, Middle East and Africa 12,937  17,144  44,366  38,941 
Asia-Pacific 6,795  7,754  24,371  28,163 
  $ 100,613  $ 79,604  $ 253,090  $ 202,858 
Inter-Segment Sales:
United States and Latin America $ 8,588  $ 10,751  $ 29,424  $ 31,849 
Canada 2,616  2,523  7,555  5,378 
Europe, Middle East and Africa 295  542  1,137  1,615 
Asia-Pacific 313  343  930  861 
$ 11,812  $ 14,159  $ 39,046  $ 39,703 
Depreciation Expense:
United States and Latin America $ 1,396  $ 1,647  $ 4,331  $ 4,727 
Canada 1,245  1,144  3,967  3,255 
Europe, Middle East and Africa 101  8  305  235 
Asia-Pacific 43  40  133  135 
$ 2,785  $ 2,839  $ 8,736  $ 8,352 
Amortization Expense:
United States and Latin America $ 295  $ 295  $ 885  $ 1,169 
Canada 1,858  1,797  5,624  5,452 
Europe, Middle East and Africa 23  32  71  429 
Asia-Pacific 11  11  33  215 
$ 2,187  $ 2,135  $ 6,613  $ 7,265 
Income/(Loss) from Operations:    
United States and Latin America $ 6,728  $ 3,647  $ 4,832  $ (4,185)
Canada 7,312  4,993  15,136  9,171 
Europe, Middle East and Africa 2,026  802  6,464  2,278 
Asia-Pacific 683  1,425  3,107  3,259 
Unallocated:
Stock compensation (275) (430) (2,698) (2,921)
Public company costs (305) (277) (1,464) (1,151)
  $ 16,169  $ 10,160  $ 25,377  $ 6,451 
December 31, 2021 March 31, 2021
Property, Plant and Equipment, Net:
United States and Latin America $ 32,600  $ 36,155 
Canada 30,074  32,583 
Europe, Middle East and Africa 2,969  3,141 
Asia-Pacific 656  751 
$ 66,299  $ 72,630 
Total Assets:
United States and Latin America $ 228,932  $ 218,699 
Canada 293,209  287,907 
Europe, Middle East and Africa 71,085  77,798 
Asia-Pacific 33,244  33,474 
$ 626,470  $ 617,878 


Capital expenditures for our reportable segments were as follows:
Three Months Ended December 31, 2021 Three Months Ended December 31, 2020 Nine Months Ended
December 31, 2021		 Nine Months Ended
December 31, 2020
Capital Expenditures:
United States and Latin America $ 171  $ 89  $ 811  $ 3,245 
Canada 566  473  1,833  1,340 
Europe, Middle East and Africa 92  10  223  59 
Asia-Pacific 36  4  53  64 
  $ 865  $ 576  $ 2,920  $ 4,708