XML 44 R29.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2023
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 designing, engineering and manufacturing of 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 solutions including the designing, engineering, manufacturing and installation of greenhouses; and (iv)Infrastructure, which primarily includes designing, engineering and manufacturing of 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. The following tables illustrate 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):
| 2023 |  | 2022 |  | 2021
Net sales: |  |  |  |  |
Renewables | $ | 330,738 |  |  | $ | 377,567 |  |  | $ | 432,096 |
Residential | 814,803 |  |  | 767,248 |  |  | 635,505 |
Agtech | 144,967 |  |  | 168,868 |  |  | 199,161 |
Infrastructure | 87,228 |  |  | 76,283 |  |  | 73,021 |
Total consolidated net sales | $ | 1,377,736 |  |  | $ | 1,389,966 |  |  | $ | 1,339,783 |
Income from operations: |  |  |  |  |
Renewables | $ | 30,160 |  |  | $ | 25,243 |  |  | $ | 20,158 |
Residential | 143,068 |  |  | 126,458 |  |  | 105,821 |
Agtech | (928) |  |  | 2,914 |  |  | (931) |
Infrastructure | 18,529 |  |  | 9,003 |  |  | 8,911 |
Segments income from operations | 190,829 |  |  | 163,618 |  |  | 133,959 |
Unallocated corporate expenses | (40,100) |  |  | (33,516) |  |  | (36,971) |
Total income from operations | $ | 150,729 |  |  | $ | 130,102 |  |  | $ | 96,988 |
Depreciation and Amortization |  |  |  |  |
Renewables | $ | 8,671 |  |  | $ | 8,467 |  |  | $ | 14,682 |
Residential | 10,080 |  |  | 8,983 |  |  | 8,694 |
Agtech | 3,789 |  |  | 4,377 |  |  | 5,279 |
Infrastructure | 3,137 |  |  | 3,150 |  |  | 3,092 |
Unallocated corporate expenses | 1,701 |  |  | 1,190 |  |  | 219 |
| $ | 27,378 |  |  | $ | 26,167 |  |  | $ | 31,966 |
| 2023 |  | 2022 |  | 2021
Total assets |  |  |  |  |
Renewables | $ | 377,694 |  |  | $ | 392,368 |  |  | $ | 445,486 |
Residential | 515,739 |  |  | 519,567 |  |  | 453,469 |
Agtech | 168,213 |  |  | 193,966 |  |  | 212,038 |
Infrastructure | 77,518 |  |  | 80,264 |  |  | 82,662 |
Unallocated corporate assets | 117,287 |  |  | 24,448 |  |  | 21,246 |
| $ | 1,256,451 |  |  | $ | 1,210,613 |  |  | $ | 1,214,901 |
Capital expenditures |  |  |  |  |
Renewables | $ | 1,113 |  |  | $ | 3,589 |  |  | $ | 4,268 |
Residential | 6,913 |  |  | 10,050 |  |  | 4,182 |
Agtech | 1,419 |  |  | 3,177 |  |  | 3,289 |
Infrastructure | 1,313 |  |  | 1,898 |  |  | 2,097 |
Unallocated corporate expenditures | 4,239 |  |  | 1,424 |  |  | 3,869 |
| $ | 14,997 |  |  | $ | 20,138 |  |  | $ | 17,705 |
The following tables illustrate revenue disaggregated by timing of transfer of control to the customer for the years ended December 31 (in thousands):
| 2023
| Renewables |  | Residential |  | Agtech |  | Infrastructure |  | Total
Net sales: |  |  |  |  |  |  |  |  |
Point in Time | $ | 49,123 |  |  | $ | 808,225 |  |  | $ | 4,920 |  |  | $ | 31,547 |  |  | $ | 893,815 |
Over Time | 281,615 |  |  | 6,578 |  |  | 140,047 |  |  | 55,681 |  |  | 483,921 |
Total | $ | 330,738 |  |  | $ | 814,803 |  |  | $ | 144,967 |  |  | $ | 87,228 |  |  | $ | 1,377,736 |
| 2022
| Renewables |  | Residential |  | Agtech |  | Infrastructure |  | Total
Net sales: |  |  |  |  |  |  |  |  |
Point in Time | $ | 27,317 |  |  | $ | 761,576 |  |  | $ | 13,011 |  |  | $ | 32,983 |  |  | $ | 834,887 |
Over Time | 350,250 |  |  | 5,672 |  |  | 155,857 |  |  | 43,300 |  |  | 555,079 |
Total | $ | 377,567 |  |  | $ | 767,248 |  |  | $ | 168,868 |  |  | $ | 76,283 |  |  | $ | 1,389,966 |
| 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 |
Net sales by region or origin and long-lived assets by region of domicile for the years ended and as of December 31 were as follows (in thousands):
| 2023 |  | 2022 |  | 2021
Net sales |  |  |  |  |
North America | $ | 1,366,012 |  |  | $ | 1,373,907 |  |  | $ | 1,318,795 |
Asia | 11,724 |  |  | 16,059 |  |  | 20,988 |
Total | $ | 1,377,736 |  |  | $ | 1,389,966 |  |  | $ | 1,339,783 |
Long-lived assets |  |  |  |  |
North America | $ | 154,778 |  |  | $ | 136,553 |  |  | $ | 97,003 |
Asia | 59 |  |  | 234 |  |  | 365 |
Total | $ | 154,837 |  |  | $ | 136,787 |  |  | $ | 97,368 |

X
- 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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingInformationRevenueAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration