Segment Information

12 Months Ended

Mar. 30, 2019

17.	Segment Information

Financial results for the Company's reportable segments have been prepared using a management approach, which is consistent with the basis and manner in which financial information is evaluated by the Company's chief operating decision maker in allocating resources and in assessing performance. The Company’s chief operating decision maker, the Chief Executive Officer, evaluates the performance of the Company’s segment primarily based on net sales, before elimination of inter-company shipments, earnings before interest, taxes, depreciation and amortization (“EBITDA”) and operating assets.

The Company operates in two reportable segments: (i) U.S. Factory-built Housing, which includes manufacturing 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. 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:

	Year Ended
(Dollars in thousands)	March 30, 2019			March 31, 2018			April 1, 2017

Net sales:
U.S. Factory-built Housing	$	1,177,687		$	860,488		$	678,296
Canadian Factory-built Housing		98,567			96,603			92,631
Corporate/Other		83,789			107,631			90,392
Consolidated net sales	$	1,360,043		$	1,064,722		$	861,319
Operating income:
U.S. Factory-built Housing EBITDA	$	111,857		$	66,747		$	48,135
Canadian Factory-built Housing EBITDA		10,417			10,800			12,655
Corporate/Other EBITDA		(135,937	)		(14,698	)		(18,895	)
Depreciation		(11,259	)		(7,773	)		(6,803	)
Amortization		(4,820	)		(487	)		(442	)
Consolidated operating (loss) income	$	(29,742	)	$	54,589		$	34,650
Depreciation:
U.S. Factory-built Housing	$	9,507		$	6,360		$	5,386
Canadian Factory-built Housing		933			907			808
Corporate/Other		819			506			609
Consolidated depreciation	$	11,259		$	7,773		$	6,803
Amortization of intangible assets:
U.S. Factory-built Housing	$	4,587		$	241		$	202
Canadian Factory-built Housing		233			246			240
Corporate/Other		—			—			—
Consolidated amortization of intangible assets	$	4,820		$	487		$	442
Capital expenditures:
U.S. Factory-built Housing	$	9,964		$	7,348		$	6,137
Canadian Factory-built Housing		879			888			607
Corporate/Other		1,249			1,206			211
Consolidated capital expenditures	$	12,092		$	9,442		$	6,955

(Dollars in thousands)	March 30, 2019			March 31, 2018

Total Assets:
U.S. Factory-built Housing (1)	$	488,878		$	190,323
Canadian Factory-built Housing (1)		59,260			54,449
Corporate/Other (1)		151,816			150,626
Consolidated total assets	$	699,954		$	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.