Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.22.2
Segment Information
 3 Months Ended
Jun. 30, 2022
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, industrial heating blankets and related products, 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. 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 June 30, 2022 Three Months Ended June 30, 2021
Sales to External Customers:
United States and Latin America $ 45,593  $ 22,656 
Canada 32,195  25,431 
Europe, Middle East and Africa 10,036  14,934 
Asia-Pacific 7,618  8,134 
  $ 95,442  $ 71,155 
Inter-Segment Sales:
United States and Latin America $ 6,214  $ 10,697 
Canada 3,406  2,769 
Europe, Middle East and Africa 2,686  412 
Asia-Pacific 1,473  304 
$ 13,779  $ 14,182 
Depreciation Expense:
United States and Latin America $ 1,346  $ 1,484 
Canada 1,152  1,420 
Europe, Middle East and Africa 93  105 
Asia-Pacific 36  46 
$ 2,627  $ 3,055 
Amortization Expense:
United States and Latin America $ 400  $ 295 
Canada 1,835  1,906 
Europe, Middle East and Africa 21  24 
Asia-Pacific 12  11 
$ 2,268  $ 2,236 
Income/(Loss) from Operations:
United States and Latin America $ 11,553  $ (2,645)
Canada 4,076  4,031 
Europe, Middle East and Africa (2,641) 2,170 
Asia-Pacific (63) 1,108 
Unallocated:
Stock compensation (1,193) (1,178)
Public company costs (518) (503)
  $ 11,214  $ 2,983 
June 30, 2022 March 31, 2022
Property, Plant and Equipment, Net:
United States and Latin America $ 31,363  $ 31,919 
Canada 29,829  30,686 
Europe, Middle East and Africa 2,846  2,796 
Asia-Pacific 541  638 
$ 64,579  $ 66,039 
Total Assets:
United States and Latin America $ 266,692  $ 241,421 
Canada 293,328  296,459 
Europe, Middle East and Africa 70,224  67,608 
Asia-Pacific 31,687  31,181 
$ 661,931  $ 636,669 
Capital expenditures for our reportable segments were as follows:
Three Months Ended June 30, 2022 Three Months Ended June 30, 2021
Capital Expenditures:
United States and Latin America $ 243  $ 318 
Canada 1,285  528 
Europe, Middle East and Africa 81  25 
Asia-Pacific 8  2 
  $ 1,617  $ 873