Segment Information

12 Months Ended

Dec. 31, 2021

Segment Information

Segment Information

16. Segment Information

We have two reportable segments: (a) our mechanical segment, which includes HVAC, plumbing, piping, and controls, as well as off-site construction, monitoring and fire protection; and (b) our electrical segment, which includes installation and servicing of electrical systems. We consider these two lines of business to be separate segments because they require different skill sets, and the business models for providing services have some differences, as a mechanical system requires ongoing maintenance and monitoring and an electrical system generally does not. However, the business model for installation of new systems or retrofitting existing systems is very similar between the two segments. Segment information is prepared on the same basis that our management reviews financial information for operational decision-making purposes.

Our activities are within the mechanical services industry and the electrical services industry, which represent our two reportable segments. We aggregate our operating segments into two reportable segments, as the operating segments meet all of the aggregation criteria. On January 1, 2021, we completed a change in the structure of our internal organization that resulted in a portion of our electrical segment’s business being moved to the mechanical segment. We reallocated goodwill between our reorganized reporting units and have recast comparative prior period information for the reorganized reportable segments in accordance with the guidance on segment reporting. Accordingly, we have recast comparative prior period information for the reorganized reportable segments in the tables below. Substantially all of our revenue is generated, and all of our assets are located, in the United States, our country of domicile. The following table presents information about our reportable segments (in thousands):

	Mechanical Services		Electrical Services		Corporate		Consolidated
Total Assets at December 31, 2021	$	1,452,527	$	690,364	$	66,223	$	2,209,114
Total Assets at December 31, 2020	$	1,246,098	$	419,475	$	91,782	$	1,757,355

	Year Ended December 31, 2021
	Mechanical Services		Electrical Services		Corporate		Consolidated
Revenue	$	2,542,623	$	531,013	$	—	$	3,073,636
Gross Profit	$	486,346	$	76,861	$	—	$	563,207
Capital Expenditures	$	19,408	$	2,413	$	509	$	22,330
	Year Ended December 31, 2020
	Mechanical Services		Electrical Services		Corporate		Consolidated
Revenue	$	2,430,632	$	426,027	$	—	$	2,856,659
Gross Profit	$	513,760	$	33,223	$	—	$	546,983
Capital Expenditures	$	22,561	$	944	$	626	$	24,131
	Year Ended December 31, 2019
	Mechanical Services		Electrical Services		Corporate		Consolidated
Revenue	$	2,272,031	$	343,246	$	—	$	2,615,277
Gross Profit	$	469,347	$	32,596	$	—	$	501,943
Capital Expenditures	$	28,070	$	1,367	$	2,313	$	31,750