Segment Information

12 Months Ended

Dec. 31, 2021

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

Segment Information

SEGMENT INFORMATION

The Company is organized into four reportable segments on the basis of the production processes, products and services provided by each segment, identified as follows:

(i)Renewables, which primarily includes designing, engineering, manufacturing and installation of solar racking and electrical balance of systems;

(ii)Residential, which primarily includes roof and foundation ventilation products, centralized mail systems and electronic package solutions, retractable awnings and gutter guards, and rain dispersion products, trims and flashings and other accessories;

(iii)Agtech, which provides growing and processing solutions including the designing, engineering, manufacturing and installation of greenhouses, and botanical extraction systems; and

(iv)Infrastructure, which primarily includes structural bearings, expansion joints and pavement sealant for bridges, airport runways and roadways, elastomeric concrete, and bridge cable protection systems.

When determining the reportable segments, the Company aggregated operating segments based on their similar economic and operating characteristics. During the first quarter of 2021, the Company reassessed its reportable segments. As a result, the Company's former Renewable Energy and Conservation segment was divided into two reportable segments: Renewables and Agtech.

The following table illustrates certain measurements used by management to assess the performance of the segments described above as of and for the years ended December 31 (in thousands):

	2021		2020		2019
Net sales:
Renewables	$	432,096	$	238,107	$	229,755
Residential	635,505		522,814		461,630
Agtech	199,161		209,460		143,268
Infrastructure	73,021		62,197		63,580
Total consolidated net sales	$	1,339,783	$	1,032,578	$	898,233
Income from operations:
Renewables	$	20,158	$	30,105	$	24,788
Residential	105,821		94,430		63,047
Agtech	(931)		10,633		22,770
Infrastructure	8,911		7,233		6,428
Segments income from operations	133,959		142,401		117,033
Unallocated corporate expenses	(36,971)		(35,211)		(36,221)
Total income from operations	$	96,988	$	107,190	$	80,812
Depreciation and Amortization
Renewables	$	14,682	$	3,377	$	3,480
Residential	8,694		8,110		7,906
Agtech	5,279		6,068		2,652
Infrastructure	3,092		3,060		3,129
Unallocated corporate expenses	219		300		390
	$	31,966	$	20,915	$	17,557
Total assets
Renewables	$	445,486	$	402,797	$	127,856
Residential	453,469		407,132		359,657
Agtech	212,038		216,274		118,997
Infrastructure	82,662		80,796		110,611
Unallocated corporate assets	21,246		28,057		174,475
Assets of discontinued operations	—		77,438		92,854
	$	1,214,901	$	1,212,494	$	984,450
Capital expenditures
Renewables	$	4,268	$	423	$	252
Residential	4,182		3,313		4,968
Agtech	3,289		720		1,947
Infrastructure	2,097		1,511		1,028
Unallocated corporate expenditures	3,869		7,101		581
	$	17,705	$	13,068	$	8,776

The following tables illustrate revenue disaggregated by timing of transfer of control to the customer for the years ended December 31 (in thousands):

	2021
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	28,630	$	630,494	$	20,157	$	32,512	$	711,793
Over Time	403,466		5,011		179,004		40,509		627,990
Total	$	432,096	$	635,505	$	199,161	$	73,021	$	1,339,783
	2020
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	22,833	$	518,281	$	52,894	$	22,781	$	616,789
Over Time	215,274		4,533		156,566		39,416		415,789
Total	$	238,107	$	522,814	$	209,460	$	62,197	$	1,032,578
	2019
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	2,677	$	458,006	$	39,919	$	26,490	$	527,092
Over Time	227,078		3,624		103,349		37,090		371,141
Total	$	229,755	$	461,630	$	143,268	$	63,580	$	898,233

Net sales by region or origin and long-lived assets by region of domicile for the years ended and as of December 31 are as follows (in thousands):

	2021		2020		2019
Net sales
North America	$	1,318,795	$	1,018,406	$	881,432
Asia	20,988		14,172		16,801
Total	$	1,339,783	$	1,032,578	$	898,233
Long-lived assets
North America	$	97,003	$	90,685	$	79,590
Asia	365		476		542
Total	$	97,368	$	91,161	$	80,132