XML 37 R21.htm IDEA: XBRL DOCUMENT
v3.22.1

Segment information | 12 Months Ended
--- | ---
Dec. 31, 2021
Segment information |
Segment information | 14. 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. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended December 31, 2021
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Revenue | ​ | $ | 22,104,953 | ​ | $ | 26,800,869 | ​ | $ | 13,884,857 | ​ | $ | 4,072,823 |  | $ | 66,863,502
Cost of revenue | ​ |  | 11,060,937 | ​ |  | 17,759,272 | ​ |  | 10,707,243 | ​ |  | 3,828,859 | ​ |  | 43,356,311
Gross profit | ​ |  | 11,044,016 | ​ |  | 9,041,597 | ​ |  | 3,177,614 | ​ |  | 243,964 | ​ |  | 23,507,191
General and administrative expenses | ​ |  | 12,841,259 | ​ |  | 1,365,735 | ​ |  | 2,762,735 | ​ |  | 1,380,630 | ​ |  | 18,350,359
Gain (loss) on asset dispositions and impairments, net | ​ |  | (246,851) | ​ |  | 1,500 | ​ |  | (485) | ​ |  | (2,900,000) | ​ |  | (3,145,836)
Income (loss) from operations | ​ | $ | (2,044,094) | ​ | $ | 7,677,362 | ​ | $ | 414,394 | ​ | $ | (4,036,666) | ​ |  | 2,010,996
Other income, net | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ | ​ | 1,623,595
Income before income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 3,634,591
Benefit from income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (447,982)
Net income from continuing operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 4,082,573
Income from continuing operations attributable to non-controlling interests | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 632,915
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 3,449,658
Net loss from discontinued operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (2,574,079)
Net income attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | $ | 875,579
​ Depreciation and amortization expenses for the year ended December 31, 2021 for the retail, bulk, services and manufacturing segments were $2,517,407, $3,331,554, $782,882 and $289,390, respectively. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of December 31, 2021
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Accounts receivable, net | ​ | $ | 2,601,619 | ​ | $ | 21,682,951 | ​ | $ | 1,698,797 | ​ | $ | 1,365,940 | ​ | $ | 27,349,307
Inventory, current and non-current | ​ | $ | 2,787,277 | ​ | $ | 3,860,808 | ​ | $ | — | ​ | $ | 589,757 | ​ | $ | 7,237,842
Property, plant and equipment, net | ​ | $ | 26,357,390 | ​ | $ | 24,476,936 | ​ | $ | 512,493 | ​ | $ | 1,599,720 | ​ | $ | 52,946,539
Construction in progress | ​ | $ | 617,334 | ​ | $ | 31,737 | ​ | $ | — | ​ | $ | 61,792 | ​ | $ | 710,863
Intangibles, net | ​ | $ | — | ​ | $ | — | ​ | $ | 2,553,888 | ​ | $ | 847,778 | ​ | $ | 3,401,666
Goodwill | ​ | $ | 1,170,511 | ​ | $ | 1,948,875 | ​ | $ | 5,320,416 | ​ | $ | 1,985,211 | ​ | $ | 10,425,013
Total segment assets | ​ | $ | 61,736,441 | ​ | $ | 68,723,405 | ​ | $ | 16,049,001 | ​ | $ | 8,198,280 | ​ | $ | 154,707,127
Assets of discontinued operations | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 22,319,927
Total assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 177,027,054
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended December 31, 2020
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Revenue | ​ | $ | 22,952,370 | ​ | $ | 24,312,546 | ​ | $ | 12,937,859 | ​ | $ | 12,425,351 | ​ | $ | 72,628,126
Cost of revenue | ​ |  | 11,080,814 | ​ |  | 16,959,563 | ​ |  | 9,698,214 | ​ |  | 8,121,080 | ​ |  | 45,859,671
Gross profit | ​ |  | 11,871,556 | ​ |  | 7,352,983 | ​ |  | 3,239,645 | ​ |  | 4,304,271 | ​ |  | 26,768,455
General and administrative expenses | ​ |  | 12,879,445 | ​ |  | 1,260,062 | ​ |  | 2,834,917 | ​ |  | 1,460,474 | ​ |  | 18,434,898
Gain on asset dispositions and impairments, net | ​ |  | 2,965 | ​ |  | 7,213 | ​ |  | 3,801 | ​ |  | 18 | ​ |  | 13,997
Income (loss) from operations | ​ | $ | (1,004,924) | ​ | $ | 6,100,134 | ​ | $ | 408,529 | ​ | $ | 2,843,815 | ​ |  | 8,347,554
Other income, net | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 1,082,946
Income before income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 9,430,500
Provision for income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 86,724
Net income from continuing operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 9,343,776
Income from continuing operations attributable to non-controlling interests | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 730,005
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 8,613,771
Net loss from discontinued operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (4,902,243)
Net income attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | $ | 3,711,528
​ Depreciation and amortization expenses for the year ended December 31, 2020 for the retail, bulk, services and manufacturing segments were $2,388,781, $3,869,377, $762,182 and $386,169, respectively. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of December 31, 2020
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Accounts receivable, net | ​ | $ | 2,444,455 | ​ | $ | 17,022,813 | ​ | $ | 1,420,609 | ​ | $ | 596,099 | ​ | $ | 21,483,976
Inventory, current and non-current | ​ | $ | 2,787,163 | ​ | $ | 3,795,544 | ​ | $ | — | ​ | $ | 1,138,313 | ​ | $ | 7,721,020
Property, plant and equipment, net | ​ | $ | 27,947,545 | ​ | $ | 27,611,567 | ​ | $ | 487,973 | ​ | $ | 1,640,899 | ​ | $ | 57,687,984
Construction in progress | ​ | $ | 305,110 | ​ | $ | 31,737 | ​ | $ | — | ​ | $ | 103,537 | ​ | $ | 440,384
Intangibles, net | ​ | $ | — | ​ | $ | — | ​ | $ | 3,200,555 | ​ | $ | 947,778 | ​ | $ | 4,148,333
Goodwill | ​ | $ | 1,170,511 | ​ | $ | 1,948,875 | ​ | $ | 5,320,416 | ​ | $ | 4,885,211 | ​ | $ | 13,325,013
Total segment assets | ​ | $ | 56,425,159 | ​ | $ | 74,771,798 | ​ | $ | 14,470,322 | ​ | $ | 11,210,685 | ​ | $ | 156,877,964
Assets of discontinued operations | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | $ | 22,677,588
Total assets | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | $ | 179,555,552
​ Revenues earned by major geographic region were: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
​ |  | 2021 |  | 2020
Cayman Islands | ​ | $ | 24,935,746 | ​ | $ | 25,640,169
Bahamas | ​ |  | 24,031,547 | ​ |  | 21,654,153
United States | ​ |  | 17,489,851 | ​ |  | 24,918,527
Revenues earned from management services agreement with OC-BVI | ​ |  | 406,358 | ​ |  | 415,277
​ | ​ | $ | 66,863,502 | ​ | $ | 72,628,126
​ Revenues earned from major customers were:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
​ |  | 2021 |  | 2020
Revenue earned from the Water and Sewerage Corporation ("WSC") | ​ | $ | 24,031,547 | ​ | $ | 21,527,487
Percentage of consolidated revenue earned from the WSC | ​ |  | 36% | ​ |  | 30%
Revenue earned from one manufacturing segment customer | ​ | $ | 406,073 | ​ | $ | 9,965,041
Percentage of consolidated revenue earned from the one manufacturing segment customer | ​ |  | 1% | ​ |  | 14%
​ Property, plant and equipment, net by major geographic region were: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2021 |  | 2020
Cayman Islands | ​ | $ | 26,687,944 | ​ | $ | 28,474,748
The Bahamas | ​ |  | 24,004,707 | ​ |  | 26,975,427
United States | ​ |  | 2,253,888 | ​ |  | 2,237,809
​ | ​ | $ | 52,946,539 | ​ | $ | 57,687,984
​

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

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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration