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Business Segment And Geographic Information | 12 Months Ended
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Mar. 31, 2013
Business Segment And Geographic Information [Abstract] |
Business Segment And Geographic Information | 17. Business Segment and Geographic Information The Company reported its financial results in two reportable business segments: Wind and Grid. Through its Windtec Solutions, the Wind business segment enables manufacturers to field wind turbines with highly competitive power output, reliability and affordability. The Company supplies advanced power electronics and control systems, licenses its highly engineered wind turbine designs, and provides extensive customer support services to wind turbine manufactures. Its design portfolio includes a broad range of drive trains and power ratings up to 10 MW’s. It provides a broad range of power electronics and software-based control systems that are highly integrated and designed for optimized performance, efficiency, and grid compatibility. Through its Gridtec Solutions, the Grid business segment enables electric utilities and renewable energy project developers to connect, transmit and distribute power with highly competitive efficiency, reliability and affordability. The Company provides transmission planning services that allow it to identify power grid congestion, poor power quality and other risks, which help the Company determine how its solutions can improve network performance. These services often lead to sales of grid interconnection solutions for wind farms and solar power plants, power quality systems and transmission and distribution cable systems. The operating results for the two business segments are as follows (in thousands):
|  | For the Years Ended March 31,
|  | 2013 |  | 2012 |  | 2011
Revenues: |  |  |  |  |  |
Wind | $ | 44,231 | $ | 44,642 | $ | 231,761
Grid |  | 43,188 |  | 31,901 |  | 54,842
Total | $ | 87,419 | $ | 76,543 | $ | 286,603
| For the Years Ended March 31,
|  | 2013 |  | 2012 |  | 2011
Operating loss: |  |  |  |  |  |
Wind | $ | (16,098) | $ | (62,217) | $ | (100,546)
Grid |  | (23,815) |  | (29,645) |  | (63,855)
Unallocated corporate expenses |  | (17,828) |  | (44,577) |  | (13,582)
Total | $ | (57,741) | $ | (136,439) | $ | (177,983)
Total business segments assets are as follows (in thousands):
|  | March 31, |  |  | March 31,
|  | 2013 |  |  | 2012
Wind | $ | 67,111 |  | $ | 70,054
Grid |  | 72,800 |  |  | 89,091
Corporate assets |  | 76,843 |  |  | 95,911
Total | $ | 216,754 |  | $ | 255,056
The accounting policies of the business segments are the same as those for the consolidated Company. The Company’s business segments have been determined in accordance with the Company’s internal management structure, which is organized based on operating activities. The Company evaluates performance based upon several factors, of which the primary financial measures are segment revenues and segment operating (loss) income. The disaggregated financial results of the segments reflect allocation of certain functional expense categories consistent with the basis and manner in which Company management internally disaggregates financial information for the purpose of assisting in making internal operating decisions. In addition, certain corporate expenses which the Company does not believe are specifically attributable or allocable to either of the two business segments have been excluded from the segment operating income. Unallocated corporate expenses primarily consist of stock-based compensation expense of $8.1 million and $9.9 million, and $13.4 million for the years ended March 31, 2013, 2012 and 2011, respectively, and restructuring and impairment charges of $7.9 million, and $9.2 million for the years ended March 31, 2013, and 2012, respectively. For the year ended March 31, 2013, unallocated corporate expenses also included a loss contingency of $1.8 million, also f or the year ended March 31, 2012, unallocated corporate expenses i ncluded $20.6 million for the write-off of an advanced payment to The Switch. Geographic information about revenue, based on shipments to customers by region, is as follows (in thousands):
|  | For the Years Ended March 31,
|  | 2013 |  | 2012 |  | 2011
U.S. | $ | 13,197 | $ | 21,347 | $ | 18,642
Canada |  | 1,663 |  | 1,219 |  | 6,670
Europe |  | 14,709 |  | 2,868 |  | 10,289
China |  | 17,906 |  | 16,929 |  | 219,194
Korea |  | 10,945 |  | 12,486 |  | 10,281
India |  | 17,062 |  | 14,212 |  | 3,835
Australia |  | 11,937 |  | 7,482 |  | 17,692
Total | $ | 87,419 | $ | 76,543 | $ | 286,603
In the year ended March 31, 2013, 2012 and 2011, 85%, 72%, and 93% of the Company’s revenues, respectively, were recognized from sales outside the United States. The Company maintains operations in Austria, China and the United States and sales and service support centers around the world. In the year ended March 31, 2013, two customers, Inox Wind Limited (“Inox”) and Beijing JINGCHENG New Energy (“JCNE”), accounted for approximately 19% and 13%, respectively, of the Company’s total revenues. In the year ended March 31, 2012, two customers, Inox and Doosan Heavy Industries, accounted for approximately 18% and 11%, respectively, of the Company’s total revenues. For the year ended March 31, 2011, Sinovel had been our largest customer, accounting for 68% of total revenues. Geographic information about property, plant and equipment associated with particular regions is as follows (in thousands):
|  | March 31,
|  | 2013 |  | 2012
North America | $ | 71,127 | $ | 83,421
Europe |  | 1,941 |  | 3,538
Asia Pacific |  | 1,558 |  | 3,869
Total | $ | 74,626 | $ | 90,828

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
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