Segment Information

3 Months Ended

Jun. 29, 2019

14.	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, 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:

	Three Months Ended
(Dollars in thousands)	June 29, 2019			June 30, 2018
Net sales:
U.S. Factory-built Housing	$	331,605		$	266,124
Canadian Factory-built Housing		23,700			27,354
Corporate/Other		16,583			28,783
Consolidated net sales	$	371,888		$	322,261
Operating income:
U.S. Factory-built Housing EBITDA	$	36,145		$	22,916
Canadian Factory-built Housing EBITDA		3,055			3,521
Corporate/Other EBITDA		(10,408	)		(13,454	)
Depreciation		(3,110	)		(2,430	)
Amortization		(1,362	)		(481	)
Consolidated operating income	$	24,320		$	10,072
Depreciation:
U.S. Factory-built Housing	$	2,638		$	2,045
Canadian Factory-built Housing		242			231
Corporate/Other		230			154
Consolidated depreciation	$	3,110		$	2,430
Amortization of intangible assets:
U.S. Factory-built Housing	$	1,362		$	420
Canadian Factory-built Housing		—			61
Corporate/Other		—			—
Consolidated amortization of intangible assets	$	1,362		$	481
Capital expenditures:
U.S. Factory-built Housing	$	3,358		$	1,281
Canadian Factory-built Housing		111			210
Corporate/Other		1,057			529
Consolidated capital expenditures	$	4,526		$	2,020

(Dollars in thousands)	June 29, 2019			March 30, 2019
Total Assets:
U.S. Factory-built Housing (1)	$	491,518		$	488,878
Canadian Factory-built Housing (1)		60,350			59,260
Corporate/Other (1)		170,623			151,816
Consolidated total assets	$	722,491		$	699,954

(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.