BUSINESS SEGMENTS

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

BUSINESS SEGMENTS

BUSINESS SEGMENTS

Our business is organized in the following two segments: DynaEnergetics and NobelClad. DynaEnergetics designs, manufactures and distributes products utilized by the global oil and gas industry principally for the perforation of oil and gas wells. NobelClad produces explosion-welded clad metal plates for use in the construction of corrosion resistant industrial processing equipment and specialized transition joints.

The accounting policies of both segments are the same as those described in the summary of significant accounting policies. Our reportable segments are separately managed strategic business units that offer different products and services. Each segment’s products are marketed to different customer types and require different manufacturing processes and technologies.

Segment information is as follows as of and for the years ended December 31:

	2020		2019		2018
Net sales:
DynaEnergetics	$	146,395	$	310,424	$	237,448
NobelClad	82,766		87,126		88,981
Net sales	$	229,161	$	397,550	$	326,429

	2020		2019		2018
(Loss) income before income taxes:
DynaEnergetics	$	6,150	$	68,781	$	44,476
NobelClad	6,886		7,193		6,499
Segment operating income before income taxes	13,036		75,974		50,975
Unallocated corporate expenses	(8,357)		(12,345)		(9,971)
Stock-based compensation	(5,675)		(5,204)		(3,580)
Other expense, net	(233)		(169)		(1,202)
Interest expense, net	(731)		(1,554)		(1,615)
(Loss) income before income taxes	$	(1,960)	$	56,702	$	34,607

	2020		2019		2018
Depreciation and Amortization:
DynaEnergetics	$	7,263	$	6,375	$	6,308
NobelClad	3,504		3,046		3,212
Segment depreciation and amortization	10,767		9,421		9,520
Corporate and other (1)	314		439		—
Consolidated depreciation and amortization	11,081		9,860		$	9,520

(1) Prior to 2019, the Company fully allocated corporate and other depreciation to the segments.

	2020		2019		2018
Acquisition of property, plant and equipment
DynaEnergetics	$	11,741	$	19,785	$	41,041
NobelClad	1,975		5,560		2,281
Segment acquisition of property, plant and equipment	13,716		25,345		43,322
Corporate and other	137		1,865		1,773
Consolidated acquisition of property, plant and equipment	$	13,853	$	27,210	$	45,095

	2020		2019
Assets:
DynaEnergetics	$	132,775	$	165,775
NobelClad	60,208		58,205
Segment assets	192,983		223,980
Cash and cash equivalents	28,187		20,353
Marketable securities	25,736		—
Prepaid expenses and other assets	24,125		24,535
Deferred tax assets	4,582		3,836
Corporate property, plant and equipment	4,032		4,717
Consolidated assets	$	279,645	$	277,421

The geographic location of our property, plant and equipment, net of accumulated depreciation, is as follows at December 31:

	2020		2019
United States	$	77,283	$	76,957
Germany	31,924		29,499
Russia	—		1,495
Canada	102		210
France	85		50
Rest of the world	17		23
Total	$	109,411	$	108,234

All of our sales are from products shipped from our manufacturing facilities and distribution centers located in the United States, Germany, and Canada. The following represents our net sales based on the geographic location of the customer for years ended December 31: 

DynaEnergetics

	2020		2019		2018
United States	$	110,903	$	264,892	$	184,576
India	5,814		588		1,863
Canada	3,830		11,491		23,006
Egypt	3,413		3,356		314
Iraq	3,287		1,104		2,419
Oman	2,551		2,922		1,277
Indonesia	1,832		1,686		1,201
Kuwait	1,716		1,068		2,014
Ukraine	1,591		3,824		3,594
Australia	1,148		654		361
Algeria	1,068		645		1,630
Malaysia	1,049		871		1,063
Pakistan	876		850		364
United Arab Emirates	840		850		3,074
Germany	605		828		419
Rest of the world	5,872		14,795		10,273
Total DynaEnergetics	$	146,395	$	310,424	$	237,448

NobelClad

	2020		2019		2018
United States	$	38,311	$	44,934	$	37,272
Canada	6,597		6,196		7,120
China	5,389		—		12,503
Germany	5,100		4,072		3,649
United Arab Emirates	4,008		1,949		1,019
France	2,895		3,591		4,491
Spain	2,670		1,706		1,083
Norway	2,215		4,496		679
South Korea	1,972		2,964		2,263
Netherlands	1,765		2,026		2,237
Sweden	1,569		2,013		2,337
Australia	1,519		1,498		512
India	1,421		1,243		2,428
Italy	1,220		770		1,618
Belgium	1,213		2,365		3,386
South Africa	870		5		—
Bahrain	588		565		20
Rest of the world	3,444		6,733		6,364
Total NobelClad	$	82,766	$	87,126	$	88,981

During the year ended December 31, 2020, one customer in our DynaEnergetics segment accounted for approximately 12% of total net sales. During the years ended December 31, 2019 and 2018, no customers were responsible for 10% or more of total net sales.