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Segment information | 9 Months Ended
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Sep. 30, 2020
Segment information |
Segment information | 3. Segment information The Company has four reportable segments: retail, bulk, services and manufacturing. The retail segment operates the water utility for the Seven Mile Beach and West Bay areas of Grand Cayman Island pursuant to an exclusive license granted by the Cayman Islands government. The bulk segment supplies potable water to government utilities in Grand Cayman and The Bahamas under long-term contracts. The services segment designs, constructs and sells water infrastructure and provides management and operating services to third parties. The manufacturing segment manufactures and services a wide range of custom and specialized water-related products 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 (or loss) 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, 2020
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Revenue | ​ | $ | 4,993,069 | ​ | $ | 6,061,475 | ​ | $ | 3,351,935 | ​ | $ | 3,259,778 |  | $ | 17,666,257
Cost of revenue | ​ |  | 2,586,901 | ​ |  | 4,400,717 | ​ |  | 2,513,272 | ​ |  | 1,949,731 | ​ |  | 11,450,621
Gross profit | ​ |  | 2,406,168 | ​ |  | 1,660,758 | ​ |  | 838,663 | ​ |  | 1,310,047 | ​ |  | 6,215,636
General and administrative expenses | ​ |  | 3,367,802 | ​ |  | 382,662 | ​ |  | 728,829 | ​ |  | 330,723 | ​ |  | 4,810,016
Loss on asset dispositions and impairments, net | ​ |  | — | ​ |  | — | ​ |  | (984) | ​ |  | — | ​ |  | (984)
Income (loss) from operations | ​ | $ | (961,634) | ​ | $ | 1,278,096 | ​ | $ | 108,850 | ​ | $ | 979,324 | ​ |  | 1,404,636
Other income, net | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  | 245,492
Income before income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 1,650,128
Benefit from income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (263,165)
Net income from continuing operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 1,913,293
Income from continuing operations attributable to non-controlling interests | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 101,137
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 1,812,156
Net loss from discontinued operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (377,321)
Net income attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | $ | 1,434,835
​ Depreciation and amortization expenses for the three months ended September 30, 2020 for the retail, bulk, services and manufacturing segments were $596,528, $971,914, $191,419 and $88,452, respectively. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended September 30, 2019
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Revenue | ​ | $ | 6,271,220 | ​ | $ | 6,449,757 | ​ | $ | 95,980 | ​ | $ | 3,072,282 | ​ | $ | 15,889,239
Cost of revenue | ​ |  | 2,945,586 | ​ |  | 4,269,739 | ​ |  | 31,601 | ​ |  | 1,933,333 | ​ |  | 9,180,259
Gross profit | ​ |  | 3,325,634 | ​ |  | 2,180,018 | ​ |  | 64,379 | ​ |  | 1,138,949 | ​ |  | 6,708,980
General and administrative expenses | ​ |  | 3,497,320 | ​ |  | 294,189 | ​ |  | 549 | ​ |  | 487,914 | ​ |  | 4,279,972
Gain on asset dispositions and impairments, net | ​ |  | 6,518 | ​ |  | 500 | ​ |  | — | ​ |  | — | ​ |  | 7,018
Income (loss) from operations | ​ | $ | (165,168) | ​ | $ | 1,886,329 | ​ | $ | 63,830 | ​ | $ | 651,035 | ​ |  | 2,436,026
Other income, net | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 216,896
Income before income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 2,652,922
Benefit from income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (40,075)
Net income from continuing operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 2,692,997
Income attributable to non-controlling interests | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 433,235
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 2,259,762
Net loss from discontinued operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (532,710)
Net income attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | $ | 1,727,052
​ Depreciation and amortization expenses for the three months ended September 30, 2019 for the retail, bulk, services and manufacturing segments were $617,671, $933,955, $0 and $214,751, respectively. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Nine Months Ended September 30, 2020
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Revenue | ​ | $ | 18,216,797 | ​ | $ | 18,368,156 | ​ | $ | 9,942,748 | ​ | $ | 10,951,524 |  | $ | 57,479,225
Cost of revenue | ​ |  | 8,343,018 | ​ |  | 12,906,606 | ​ |  | 7,418,305 | ​ |  | 6,852,196 | ​ |  | 35,520,125
Gross profit | ​ |  | 9,873,779 | ​ |  | 5,461,550 | ​ |  | 2,524,443 | ​ |  | 4,099,328 | ​ |  | 21,959,100
General and administrative expenses | ​ |  | 10,008,423 | ​ |  | 935,808 | ​ |  | 2,112,869 | ​ |  | 1,005,838 | ​ |  | 14,062,938
Gain on asset dispositions and impairments, net | ​ |  | — | ​ |  | 200 | ​ |  | 3,801 | ​ |  | — | ​ |  | 4,001
Income (loss) from operations | ​ | $ | (134,644) | ​ | $ | 4,525,942 | ​ | $ | 415,375 | ​ | $ | 3,093,490 | ​ |  | 7,900,163
Other income, net | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ | ​ | 533,710
Income before income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 8,433,873
Provision for income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 147,186
Net income from continuing operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 8,286,687
Income from continuing operations attributable to non-controlling interests | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 642,289
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 7,644,398
Net loss from discontinued operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (4,448,798)
Net income attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | $ | 3,195,600
​ Depreciation and amortization expenses for the nine months ended September 30, 2020 for the retail, bulk, services and manufacturing segments were $1,796,588, $2,906,213, $562,756 and $296,926, respectively. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Nine Months Ended September 30, 2019
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Revenue | ​ | $ | 19,941,395 | ​ | $ | 20,502,121 | ​ | $ | 287,349 | ​ | $ | 10,452,158 | ​ | $ | 51,183,023
Cost of revenue | ​ |  | 8,753,948 | ​ |  | 13,992,452 | ​ |  | 198,614 | ​ |  | 7,013,977 | ​ |  | 29,958,991
Gross profit | ​ |  | 11,187,447 | ​ |  | 6,509,669 | ​ |  | 88,735 | ​ |  | 3,438,181 | ​ |  | 21,224,032
General and administrative expenses | ​ |  | 10,020,019 | ​ |  | 900,572 | ​ |  | 2,865 | ​ |  | 1,466,091 | ​ |  | 12,389,547
Gain on asset dispositions and impairments, net | ​ |  | 401,088 | ​ |  | 47,000 | ​ |  | — | ​ |  | — | ​ |  | 448,088
Income from operations | ​ | $ | 1,568,516 | ​ | $ | 5,656,097 | ​ | $ | 85,870 | ​ | $ | 1,972,090 | ​ |  | 9,282,573
Other income, net | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 518,031
Income before income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 9,800,604
Provision for income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 73,117
Net income from continuing operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 9,727,487
Income from continuing operations attributable to non-controlling interests | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 1,172,039
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 8,555,448
Net income from discontinued operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 1,834,297
Net income attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | $ | 10,389,745
​ Depreciation and amortization expenses for the nine months ended September 30, 2019 for the retail, bulk, services and manufacturing segments were $1,751,048, $2,858,081, $0 and $707,517, respectively. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of September 30, 2020
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Accounts receivable, net | ​ | $ | 2,374,722 | ​ | $ | 18,609,023 | ​ | $ | 1,598,836 | ​ | $ | 1,828,747 | ​ | $ | 24,411,328
Inventory, current and non-current | ​ | $ | 2,811,852 | ​ | $ | 4,006,117 | ​ | $ | — | ​ | $ | 1,609,800 | ​ | $ | 8,427,769
Property, plant and equipment, net | ​ | $ | 28,355,776 | ​ | $ | 28,537,623 | ​ | $ | 487,555 | ​ | $ | 1,675,824 | ​ | $ | 59,056,778
Construction in progress | ​ | $ | 298,468 | ​ | $ | 31,737 | ​ | $ | — | ​ | $ | 143,302 | ​ | $ | 473,507
Intangibles, net | ​ | $ | — | ​ | $ | — | ​ | $ | 3,369,722 | ​ | $ | 991,111 | ​ | $ | 4,360,833
Goodwill | ​ | $ | 1,170,511 | ​ | $ | 1,948,875 | ​ | $ | 5,320,416 | ​ | $ | 4,885,211 | ​ | $ | 13,325,013
Total segment assets | ​ | $ | 50,782,152 | ​ | $ | 73,845,479 | ​ | $ | 14,023,605 | ​ | $ | 18,768,959 | ​ | $ | 157,420,195
Assets of discontinued operations | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 23,047,739
Total assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 180,467,934
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of December 31, 2019
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Accounts receivable, net | ​ | $ | 2,891,165 | ​ | $ | 18,883,493 | ​ | $ | 954,149 | ​ | $ | 500,882 | ​ | $ | 23,229,689
Inventory, current and non-current | ​ | $ | 2,668,902 | ​ | $ | 3,628,443 | ​ | $ | — | ​ | $ | 1,394,588 | ​ | $ | 7,691,933
Property, plant and equipment, net | ​ | $ | 29,177,718 | ​ | $ | 30,281,647 | ​ | $ | 158,358 | ​ | $ | 1,621,029 | ​ | $ | 61,238,752
Construction in progress | ​ | $ | 396,214 | ​ | $ | 869,792 | ​ | $ | — | ​ | $ | 69,591 | ​ | $ | 1,335,597
Intangibles, net | ​ | $ | — | ​ | $ | — | ​ | $ | 3,877,222 | ​ | $ | 1,162,778 | ​ | $ | 5,040,000
Goodwill | ​ | $ | 1,170,511 | ​ | $ | 1,948,875 | ​ | $ | 5,320,416 | ​ | $ | 4,885,211 | ​ | $ | 13,325,013
Total segment assets | ​ | $ | 65,554,640 | ​ | $ | 69,423,770 | ​ | $ | 13,170,155 | ​ | $ | 14,854,557 | ​ | $ | 163,003,122
Assets of discontinued operations | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | $ | 29,289,022
Total assets | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | $ | 192,292,144
​

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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