XML 33 R23.htm IDEA: XBRL DOCUMENT v3.10.0.1
Segment Information
3 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
Segment Information
16.

Segment Information

The Company operates in two reportable segments: (i) U.S. Factory-built Housing, which includes wholesale and retail housing operations and (ii) Canadian Factory-built Housing. Corporate/Other includes the Company’s transportation operations, corporate costs directly incurred for all segments and intersegment eliminations. Segments are generally determined by geography. Segment data includes intersegment revenues and corporate office costs that are directly and exclusively incurred for each segment. The Company evaluates the performance of its segments and allocates resources to them primarily based on earnings before interest, taxes, depreciation and amortization (“EBITDA”). Total assets for Corporate/Other primarily include cash and certain deferred tax items not specifically allocated to another segment.

Selected financial information by reportable segment was as follows:

 

     Three Months Ended  

(Dollars in thousands)

   June 30,
2018
     July 1,
2017
 

Net Sales:

     

U.S. Factory-built Housing

   $ 266,124      $ 193,176  

Canadian Factory-built Housing

     27,354        22,403  

Corporate/Other

     28,783        28,524  
  

 

 

    

 

 

 

Consolidated net sales

   $ 322,261      $ 244,103  
  

 

 

    

 

 

 

Operating income:

     

U.S. Factory-built Housing EBITDA

   $ 22,916      $ 10,987  

Canadian Factory-built Housing EBITDA

     3,521        2,657  

Corporate/Other EBITDA

     (13,454      (2,442

Depreciation

     (2,430      (1,842

Amortization

     (481      (126
  

 

 

    

 

 

 

Consolidated operating income

   $ 10,072      $ 9,234  
  

 

 

    

 

 

 

Depreciation:

     

U.S. Factory-built Housing

   $ 2,045      $ 1,502  

Canadian Factory-built Housing

     231        209  

Corporate/Other

     154        131  
  

 

 

    

 

 

 

Consolidated depreciation

   $ 2,430      $ 1,842  
  

 

 

    

 

 

 

Amortization:

     

U.S. Factory-built Housing

   $ 420      $ 68  

Canadian Factory-built Housing

     61        58  

Corporate/Other

     —          —    
  

 

 

    

 

 

 

Consolidated amortization

   $ 481      $ 126  
  

 

 

    

 

 

 

Capital Expenditure:

     

U.S. Factory-built Housing

   $ 1,281      $ 3,557  

Canadian Factory-built Housing

     210        343  

Corporate/Other

     529        58  
  

 

 

    

 

 

 

Consolidated capital expenditure:

   $ 2,020      $ 3,958  
  

 

 

    

 

 

 
     June 30,
2018
     March 31,
2018
 

Total Assets:

     

U.S Factory-built Housing (1)

   $ 474,569      $ 190,323  

Canadian Factory-built Housing (1)

     53,226        54,449  

Corporate/Other (1)

     121,563        150,626  
  

 

 

    

 

 

 

Consolidated assets

   $ 649,358      $ 395,398  
  

 

 

    

 

 

 

 

(1)

Deferred tax assets for the Canadian operations are reflected in the Canadian Factory-built Housing segment. U.S. deferred tax assets are presented in Corporate/Other because an allocation between segments is not practicable.