Segment Information

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment Information

Note 19. Segment Information

The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by the Chief Executive Officer, who is also the Company’s Chief Operating Decision Maker, for making decisions about the allocation of resources and assessing performance as the source of the Company’s reportable operating segments.

The Company is a leading provider of engineered lifting solutions and equipment rentals. The Company operates in two business segments: the Lifting Equipment segment and the Rental Equipment segment.

Lifting Equipment Segment

The Lifting Equipment segment is a leading provider of engineered lifting solutions. The Company manufactures a comprehensive line of boom trucks, articulating cranes, truck cranes and sign cranes. The Company is also a manufacturer of specialized rough terrain cranes and material handling products. Through two of its Italian subsidiaries, the Company manufacturers truck- mounted hydraulic knuckle boom cranes and a full range of precision pick and carry industrial cranes using electric, diesel and hybrid power options.

Rental Equipment Segment

Through its recently acquired Rabern subsidiary, the Company’s Rental Equipment segment rents heavy duty and light duty commercial construction equipment, mainly to commercial contractors on a short-term rental basis. The Company also rents equipment to homeowners for do-it-yourself projects.

The following is financial information for our two operating segments: Lifting Equipment and Rental Equipment:

	Three Months Ended June 30,					Six Months Ended June 30,
	2022			2021		2022			2021
Net revenues
Lifting Equipment	$	63,338		$	60,045	$	123,758		$	107,213
Rental Equipment		6,239			—		6,239			—
Total revenue	$	69,577		$	60,045	$	129,997		$	107,213
Operating income (loss)
Lifting Equipment	$	(2,181	)	$	2,571	$	(1,531	)	$	2,847
Rental Equipment		511			—		511			—
Total operating income (loss)	$	(1,670	)	$	2,571	$	(1,020	)	$	2,847
Depreciation and amortization
Lifting Equipment	$	1,102		$	1,123	$	2,247		$	2,253
Rental Equipment		1,670			—		1,670			—
Total depreciation and amortization	$	2,772		$	1,123	$	3,917		$	2,253
Capital expenditures
Lifting Equipment	$	247		$	404	$	847		$	561
Rental Equipment		8,960			—		8,960			—
Total capital expenditures	$	9,207		$	404	$	9,807		$	561

	Three Months Ended June 30, 2022						Three Months Ended June 30, 2021
	Lifting Equipment		Rental Equipment		Total		Lifting Equipment		Rental Equipment		Total
Net sales by country
United States	$	30,808	$	6,239	$	37,047	$	25,961	$	—	$	25,961
Italy		7,993		—		7,993		8,262		—		8,262
Canada		5,655		—		5,655		5,450		—		5,450
France		2,709		—		2,709		2,688		—		2,688
Chile		3,092		—		3,092		3,118		—		3,118
Other		13,081		—		13,081		14,566		—		14,566
Total	$	63,338	$	6,239	$	69,577	$	60,045	$	—	$	60,045
	Six Months Ended June 30, 2022						Six Months Ended June 30, 2021
	Lifting Equipment		Rental Equipment		Total		Lifting Equipment		Rental Equipment		Total
Net sales by country
United States	$	61,692	$	6,239	$	67,931	$	44,965	$	—	$	44,965
Italy		14,666		—		14,666		13,409		—		13,409
Canada		9,743		—		9,743		8,325		—		8,325
France		6,386		—		6,386		6,454		—		6,454
Chile		5,544		—		5,544		6,338		—		6,338
Other		25,727		—		25,727		27,722		—		27,722
Total	$	123,758	$	6,239	$	129,997	$	107,213	$	—	$	107,213

	June 30, 2022						December 31, 2021
	Lifting Equipment		Rental Equipment		Total		Lifting Equipment		Rental Equipment		Total
Assets by country
United States	$	92,745	$	62,678	$	155,423	$	85,244	$	—	$	85,244
Italy		96,920		—		96,920		94,531		—		94,531
Total	$	189,665	$	62,678	$	252,343	$	179,775	$	—	$	179,775