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Segment information | 9 Months Ended
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Sep. 30, 2017
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | 4. Segment information The Company has four reportable segments: retail, bulk, services and manufacturing. The retail segment consists of Cayman Water which owns and operates the water utility that provides potable water to the Seven Mile Beach and West Bay areas of Grand Cayman Island pursuant to an exclusive license granted by the Cayman Islands government and CW-Bali which sells water to resort properties in Bali, Indonesia. The bulk segment supplies potable water to government utilities in Grand Cayman, The Bahamas and Belize under long-term contracts. The services segment provides desalination plant management and operating services to affiliated companies and designs, constructs and sells desalination plants to third parties. The manufacturing segment manufactures and services a wide range of water-related products and provides design, engineering, management, operating and other services applicable to commercial, municipal and industrial water production, supply and treatment. Consistent with prior periods, the Company records all non-direct general and administrative expenses in its retail business segment and does not allocate any of these non-direct expenses to its other three business segments. The accounting policies of the segments are consistent with those described in Note 2. The Company evaluates each segment’s performance based upon its income from operations. All intercompany transactions are eliminated for segment presentation purposes. The Company’s segments are strategic business units that are managed separately because each segment sells different products and/or services, serves customers with distinctly different needs and generates different gross profit margins.
|  | Three Months Ended September 30, 2017 |
|  | Retail |  |  | Bulk |  |  | Services |  |  | Manufacturing |  |  | Total |
Revenues |  | $ | 5,570,654 |  |  | $ | 7,881,464 |  |  | $ | 111,302 |  |  | $ | 3,008,783 |  |  | $ | 16,572,203 |
Cost of revenues |  |  | 2,488,441 |  |  |  | 5,582,401 |  |  |  | 114,667 |  |  |  | 2,078,888 |  |  |  | 10,264,397 |
Gross profit (loss) |  |  | 3,082,213 |  |  |  | 2,299,063 |  |  |  | (3,365) |  |  |  | 929,895 |  |  |  | 6,307,806 |
General and administrative expenses |  |  | 3,070,681 |  |  |  | 315,374 |  |  |  | 863,646 |  |  |  | 646,622 |  |  |  | 4,896,323 |
Impairment loss on long-lived assets |  |  | 578,480 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 578,480 |
Income (loss) from operations |  | $ | (566,948) |  |  | $ | 1,983,689 |  |  | $ | (867,011) |  |  | $ | 283,273 |  |  |  | 833,003 |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 447,294 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,280,297 |
Provision for (benefit from) income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (136,447) |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,416,744 |
Income from attributable to non-controlling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 255,605 |
Net income attributable to Consolidated Water Co. Ltd. stockholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,161,139 |
Depreciation and amortization expenses for the three months ended September 30, 2017 for the retail, bulk, services and manufacturing segments were $ 491,771, $1,274,471, $7,638, and $398,368 respectively.
|  | Three Months Ended September 30, 2016 |
|  | Retail |  |  | Bulk |  |  | Services |  |  | Manufacturing |  |  | Total |
Revenues |  | $ | 5,447,200 |  |  | $ | 7,429,732 |  |  | $ | 125,929 |  |  | $ | 1,382,492 |  |  | $ | 14,385,353 |
Cost of revenues |  |  | 2,464,841 |  |  |  | 4,922,162 |  |  |  | 168,577 |  |  |  | 910,450 |  |  |  | 8,466,030 |
Gross profit (loss) |  |  | 2,982,359 |  |  |  | 2,507,570 |  |  |  | (42,648) |  |  |  | 472,042 |  |  |  | 5,919,323 |
General and administrative expenses |  |  | 2,811,262 |  |  |  | 425,000 |  |  |  | 643,660 |  |  |  | 648,757 |  |  |  | 4,528,679 |
Impairment loss on long-lived assets |  |  | 2,000,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,000,000 |
Impairment of goodwill |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,750,000 |  |  |  | 1,750,000 |
Income (loss) from operations |  | $ | (1,828,903) |  |  | $ | 2,082,570 |  |  | $ | (686,308) |  |  | $ | (1,926,715) |  |  |  | (2,359,356) |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (762,696) |
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,122,052) |
Provision for (benefit from) income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (146,198) |
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,975,854) |
Loss attributable to non-controlling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,110,522) |
Net loss attributable to Consolidated Water Co. Ltd. stockholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,865,332) |
Depreciation and amortization expenses for the three months ended September 30, 2016 for the retail, bulk, services and manufacturing segments were $567,833, $811,741, $29,037 and $422,230 respectively.
|  | Nine Months Ended September 30, 2017 |
|  | Retail |  |  | Bulk |  |  | Services |  |  | Manufacturing |  |  | Total |
Revenues |  | $ | 18,111,274 |  |  | $ | 23,615,787 |  |  | $ | 360,758 |  |  | $ | 5,444,678 |  |  | $ | 47,532,497 |
Cost of revenues |  |  | 7,895,617 |  |  |  | 15,750,402 |  |  |  | 320,586 |  |  |  | 3,967,945 |  |  |  | 27,934,550 |
Gross profit |  |  | 10,215,657 |  |  |  | 7,865,385 |  |  |  | 40,172 |  |  |  | 1,476,733 |  |  |  | 19,597,947 |
General and administrative expenses |  |  | 9,288,941 |  |  |  | 940,105 |  |  |  | 2,498,766 |  |  |  | 1,967,372 |  |  |  | 14,695,184 |
Impairment loss on long-lived assets |  |  | 1,578,480 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,578,480 |
Income (loss) from operations |  | $ | (651,764) |  |  | $ | 6,925,280 |  |  | $ | (2,458,594) |  |  | $ | (490,639) |  |  |  | 3,324,283 |
Other income (expense), net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 871,956 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,196,239 |
Provision for (benefit from) income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (412,592) |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,608,831 |
Income from attributable to non-controlling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 191,916 |
Net income attributable to Consolidated Water Co. Ltd. stockholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 4,416,915 |
Depreciation and amortization expenses for the nine months ended September 30, 2017 for the retail, bulk, services and manufacturing segments were $1,514,069, $2,928,287, $37,295, and $1,204,313 respectively.
|  | Nine Months Ended September 30, 2016 |
|  | Retail |  |  | Bulk |  |  | Services |  |  | Manufacturing |  |  | Total |
Revenues |  | $ | 17,710,271 |  |  | $ | 22,136,086 |  |  | $ | 710,576 |  |  | $ | 3,261,827 |  |  | $ | 43,818,760 |
Cost of revenues |  |  | 7,779,831 |  |  |  | 14,345,747 |  |  |  | 638,389 |  |  |  | 2,366,060 |  |  |  | 25,130,027 |
Gross profit |  |  | 9,930,440 |  |  |  | 7,790,339 |  |  |  | 72,187 |  |  |  | 895,767 |  |  |  | 18,688,733 |
General and administrative expenses |  |  | 8,588,529 |  |  |  | 1,302,884 |  |  |  | 2,363,392 |  |  |  | 1,670,634 |  |  |  | 13,925,439 |
Impairment loss on long-lived assets |  |  | 2,000,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,000,000 |
Impairment of goodwill |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,750,000 |  |  |  | 1,750,000 |
Income (loss) from operations |  | $ | (658,089) |  |  | $ | 6,487,455 |  |  | $ | (2,291,205) |  |  | $ | (2,524,867) |  |  |  | 1,013,294 |
Other income (expense), net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 45,698 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,058,992 |
Provision for (benefit from) income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (389,860) |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,448,852 |
Loss attributable to non-controlling interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (944,790) |
Net income attributable to Consolidated Water Co. Ltd. stockholders |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 2,393,642 |
Depreciation and amortization expenses for the nine months ended September 30, 2016 for the retail, bulk, services and manufacturing segments were $1,714,928, $2,480,314, $87,113 and $1,126,169 respectively.
|  | As of September 30, 2017 |
|  | Retail |  |  | Bulk |  |  | Services |  |  | Manufacturing |  |  | Total |
Accounts receivable, net |  | $ | 1,855,483 |  |  | $ | 9,457,940 |  |  | $ | 1,343,756 |  |  | $ | 350,704 |  |  | $ | 13,007,883 |
Property plant and equipment, net |  | $ | 23,466,107 |  |  | $ | 25,311,839 |  |  | $ | 96,698 |  |  | $ | 1,884,614 |  |  | $ | 50,759,258 |
Construction in progress |  | $ | 195,508 |  |  | $ | 1,226,677 |  |  | $ | 3,256 |  |  | $ | 7,900 |  |  | $ | 1,433,341 |
Intangibles, net |  | $ | - |  |  | $ | 550,315 |  |  | $ | - |  |  | $ | 3,566,667 |  |  | $ | 4,116,982 |
Goodwill |  | $ | 1,170,511 |  |  | $ | 2,328,526 |  |  | $ | - |  |  | $ | 6,285,211 |  |  | $ | 9,784,248 |
Land held for development |  | $ | - |  |  | $ | - |  |  | $ | 20,558,424 |  |  | $ | - |  |  | $ | 20,558,424 |
Total segment assets |  | $ | 54,650,263 |  |  | $ | 72,474,419 |  |  | $ | 24,197,958 |  |  | $ | 14,517,817 |  |  | $ | 165,840,457 |
|  | As of December 31, 2016 |
|  | Retail |  |  | Bulk |  |  | Services |  |  | Manufacturing |  |  | Total |
Accounts receivable, net |  | $ | 2,646,628 |  |  | $ | 12,692,714 |  |  | $ | 629,930 |  |  | $ | 531,526 |  |  | $ | 16,500,798 |
Property plant and equipment, net |  | $ | 24,890,031 |  |  | $ | 26,124,724 |  |  | $ | 91,030 |  |  | $ | 1,978,320 |  |  | $ | 53,084,105 |
Construction in progress |  | $ | 134,392 |  |  | $ | 743,296 |  |  | $ | - |  |  | $ | 7,806 |  |  | $ | 885,494 |
Intangibles, net |  | $ | - |  |  | $ | 599,960 |  |  | $ | 15,516 |  |  | $ | 4,580,000 |  |  | $ | 5,195,476 |
Goodwill |  | $ | 1,170,511 |  |  | $ | 2,328,526 |  |  | $ | - |  |  | $ | 6,285,211 |  |  | $ | 9,784,248 |
Land held for development |  | $ | - |  |  | $ | - |  |  | $ | 20,558,424 |  |  | $ | - |  |  | $ | 20,558,424 |
Total segment assets |  | $ | 54,303,011 |  |  | $ | 68,663,628 |  |  | $ | 25,558,495 |  |  | $ | 15,079,394 |  |  | $ | 163,604,528 |

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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 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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