Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.23.2
Segment Information
 3 Months Ended
Jun. 30, 2023
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, food and beverage, 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, 2023 Three Months Ended June 30, 2022
Sales to External Customers:
United States and Latin America $ 53,497  $ 45,593 
Canada 35,323  32,195 
Europe, Middle East and Africa 9,681  10,036 
Asia-Pacific 8,388  7,618 
  $ 106,889  $ 95,442 
Inter-Segment Sales:
United States and Latin America $ 8,381  $ 6,214 
Canada 4,732  3,406 
Europe, Middle East and Africa 389  2,686 
Asia-Pacific 1,111  1,473 
$ 14,613  $ 13,779 
Depreciation Expense:
United States and Latin America $ 1,056  $ 1,346 
Canada 911  1,152 
Europe, Middle East and Africa 47  93 
Asia-Pacific 38  36 
$ 2,052  $ 2,627 
Amortization Expense:
United States and Latin America $ 611  $ 400 
Canada 1,743  1,835 
Europe, Middle East and Africa 22  21 
Asia-Pacific 11  12 
$ 2,387  $ 2,268 
Income from Operations:
United States and Latin America $ 12,281  $ 11,553 
Canada 3,538  4,076 
Europe, Middle East and Africa 334  (2,641)
Asia-Pacific 907  (63)
Unallocated:
Stock compensation (1,238) (1,193)
Public company costs (408) (518)
  $ 15,414  $ 11,214 
June 30, 2023 March 31, 2023
Property, Plant and Equipment, Net:
United States and Latin America $ 32,880  $ 31,918 
Canada 28,961  28,369 
Europe, Middle East and Africa 2,344  2,366 
Asia-Pacific 614  635 
$ 64,799  $ 63,288 
Total Assets:
United States and Latin America $ 267,487  $ 261,781 
Canada 286,462  287,221 
Europe, Middle East and Africa 59,940  57,680 
Asia-Pacific 43,236  42,947 
$ 657,125  $ 649,629 
Capital expenditures for our reportable segments were as follows:
Three Months Ended
June 30, 2023		 Three Months Ended
June 30, 2022
Capital Expenditures:
United States and Latin America $ 1,827  $ 243 
Canada 910  1,285 
Europe, Middle East and Africa 33  81 
Asia-Pacific 31  8 
  $ 2,801  $ 1,617