XML 35 R23.htm IDEA: XBRL DOCUMENT v3.21.2
Segment Information
9 Months Ended
Sep. 30, 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 performance of the segments described above for the three and nine months ended September 30, (in thousands):
Three Months Ended
September 30,
Nine Months Ended
September 30,
2021202020212020
Net sales:
Renewables$130,162 $70,246 $323,425 $173,459 
Residential171,545 151,718 475,971 394,609 
Agtech48,975 58,012 149,410 149,555 
Infrastructure 18,671 16,816 56,528 49,754 
Total net sales$369,353 $296,792 $1,005,334 $767,377 
Income from operations:
Renewables$12,206 $9,070 $21,195 $21,851 
Residential29,482 32,454 79,571 74,143 
Agtech2,227 5,125 4,133 7,231 
Infrastructure1,640 2,283 7,863 6,660 
Unallocated Corporate Expenses(7,577)(7,989)(30,560)(25,417)
Total income from operations$37,978 $40,943 $82,202 $84,468 

September 30, 2021December 31, 2020
Total assets:
Renewables$450,702 $402,796 
Residential458,744 407,132 
Agtech211,542 216,275 
Infrastructure84,130 80,796 
Unallocated corporate assets27,097 28,057 
Assets of discontinued operations— 77,438 
$1,232,215 $1,212,494 
The following tables illustrate segment revenue disaggregated by timing of transfer of control to the customer for the three and nine months ended September 30 (in thousands):
Three Months Ended September 30, 2021
RenewablesResidentialAgtechInfrastructureTotal
Net sales:
Point in Time$8,835 $170,280 $4,010 $8,194 $191,319 
Over Time121,327 1,265 44,965 10,477 178,034 
Total net sales$130,162 $171,545 $48,975 $18,671 $369,353 

Three Months Ended September 30, 2020
RenewablesResidentialAgtechInfrastructureTotal
Net sales:
Point in Time$7,038 $150,608 $14,206 $6,378 $178,230 
Over Time63,208 1,110 43,806 10,438 118,562 
Total net sales$70,246 $151,718 $58,012 $16,816 $296,792 

Nine Months Ended September 30, 2021
RenewablesResidentialAgtechInfrastructureTotal
Net sales:
Point in Time$21,855 $472,277 $16,541 $25,301 $535,974 
Over Time301,570 3,694 132,869 31,227 469,360 
Total net sales$323,425 $475,971 $149,410 $56,528 $1,005,334 

Nine Months Ended September 30, 2020
RenewablesResidentialAgtechInfrastructureTotal
Net sales:
Point in Time$16,246 $391,227 $40,390 $18,384 $466,247 
Over Time157,213 3,382 109,165 31,370 301,130 
Total net sales$173,459 $394,609 $149,555 $49,754 $767,377