Note 19 - Reportable Segment Information

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

19.  Reportable Segment Information

During the fourth quarter of 2021, we updated our strategy to focus on our core business capabilities, to leverage our current geographic based home markets in the civil construction and materials business and to target expansion based upon that combined strategy. In addition, we revised the financial information our chief operating decision maker, or decision-making group (our “CODM”), regularly reviews to allocate resources and assess our performance. This change is consistent with our new strategic plan and better aligns with our continuing civil construction and materials business. Our CODM now regularly reviews financial information regarding our two primary product lines, construction and materials as well as our operating groups. We identified our CODM as our Chief Executive Officer and our Chief Operating Officer.

As a result of these changes, in accordance with FASB ASC Topic 280, Segment Reporting, our reportable segments, which are the same as our operating segments, were changed to: Construction and Materials. The Construction segment replaces the previous Transportation, Water and Specialty reportable segments, with the composition of our Materials segment for our continuing operations remaining unchanged. These changes have been applied retrospectively for all periods presented.

Summarized segment information is as follows:

Three months ended June 30,		Construction		Materials			Total
2022
Total revenue from reportable segments	$	632,260	$	180,444		$	812,704
Elimination of intersegment revenue		—		(44,418	)		(44,418	)
Revenue from external customers	$	632,260	$	136,026		$	768,286
Gross profit	$	61,166	$	17,314		$	78,480
Depreciation, depletion and amortization	$	5,595	$	6,804		$	12,399

2021
Total revenue from reportable segments	$	713,425	$	167,969		$	881,394
Elimination of intersegment revenue		—		(46,723	)		(46,723	)
Revenue from external customers	$	713,425	$	121,246		$	834,671
Gross profit	$	76,267	$	21,965		$	98,232
Depreciation, depletion and amortization	$	8,864	$	6,346		$	15,210

Six months ended June 30,	Construction		Materials			Total
2022
Total revenue from reportable segments	$	1,107,195	$	269,998		$	1,377,193
Elimination of intersegment revenue		—	$	(61,321	)		(61,321	)
Revenue from external customers	$	1,107,195	$	208,677		$	1,315,872
Gross profit	$	109,358	$	18,897		$	128,255
Depreciation, depletion and amortization	$	13,389	$	13,137		$	26,526
Segment assets	$	369,160	$	357,922		$	727,082

2021
Total revenue from reportable segments	$	1,220,396	$	239,321		$	1,459,717
Elimination of intersegment revenue	$	—	$	(58,714	)		(58,714	)
Revenue from external customers	$	1,220,396	$	180,607		$	1,401,003
Gross profit	$	129,036	$	22,908		$	151,944
Depreciation, depletion and amortization	$	15,482	$	11,683		$	27,165
Segment assets	$	372,952	$	331,748		$	704,700

A reconciliation of segment gross profit from continuing operations to consolidated income (loss) from continuing operations before provision for (benefit from) income taxes is as follows:

	Three months ended June 30,						Six months ended June 30,
	2022			2021			2022			2021
Total gross profit from continuing operations	$	78,480		$	98,232		$	128,255		$	151,944
Selling, general and administrative expenses		53,162			58,628			111,663			119,789
Other costs (see Note 7)		20,177			5,868			28,391			80,177
Gain on sales of property and equipment		(385	)		(1,052	)		(717	)		(3,297	)
Total other expense, net		5,930			933			10,570			5,578
Income (loss) from continuing operations before income taxes	$	(404	)	$	33,855		$	(21,652	)	$	(50,303	)