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v3.23.1

Segment information | 3 Months Ended
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Mar. 31, 2023
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 March 31, 2023
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Revenue | ​ | $ | 7,771,095 | ​ | $ | 9,004,373 | ​ | $ | 12,721,701 | ​ | $ | 3,371,821 |  | $ | 32,868,990
Cost of revenue | ​ |  | 3,550,794 | ​ |  | 6,243,146 | ​ |  | 10,044,078 | ​ |  | 2,471,890 | ​ |  | 22,309,908
Gross profit | ​ |  | 4,220,301 | ​ |  | 2,761,227 | ​ |  | 2,677,623 | ​ |  | 899,931 | ​ |  | 10,559,082
General and administrative expenses | ​ |  | 4,177,107 | ​ |  | 352,975 | ​ |  | 1,088,672 | ​ |  | 417,908 | ​ |  | 6,036,662
(Loss) gain on asset dispositions and impairments, net | ​ |  | (7,287) | ​ |  | 11,270 | ​ |  | — | ​ |  | 1,933 | ​ |  | 5,916
Income from operations | ​ | $ | 35,907 | ​ | $ | 2,419,522 | ​ | $ | 1,588,951 | ​ | $ | 483,956 | ​ |  | 4,528,336
Other income, net | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  | 157,059
Income before income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 4,685,395
Provision for income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 449,485
Net income from continuing operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 4,235,910
Income from continuing operations attributable to non-controlling interests | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 163,121
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 4,072,789
Net loss from discontinued operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (259,163)
Net income attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | $ | 3,813,626
​ Depreciation and amortization expenses for the three months ended March 31, 2023 for the retail, bulk, services and manufacturing segments were $626,637, $728,129, $171,349 and $67,963, respectively. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended March 31, 2022
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Revenue | ​ | $ | 6,313,200 | ​ | $ | 7,350,644 | ​ | $ | 4,743,820 | ​ | $ | 1,150,241 | ​ | $ | 19,557,905
Cost of revenue | ​ |  | 3,053,740 | ​ |  | 4,687,119 | ​ |  | 3,649,180 | ​ |  | 1,022,102 | ​ |  | 12,412,141
Gross profit | ​ |  | 3,259,460 | ​ |  | 2,663,525 | ​ |  | 1,094,640 | ​ |  | 128,139 | ​ |  | 7,145,764
General and administrative expenses | ​ |  | 3,450,406 | ​ |  | 310,303 | ​ |  | 779,974 | ​ |  | 325,434 | ​ |  | 4,866,117
Gain on asset dispositions and impairments, net | ​ |  | — | ​ |  | — | ​ |  | 12,458 | ​ |  | — | ​ |  | 12,458
Income (loss) from operations | ​ | $ | (190,946) | ​ | $ | 2,353,222 | ​ | $ | 327,124 | ​ | $ | (197,295) | ​ |  | 2,292,105
Other income, net | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 319,727
Income before income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 2,611,832
Provision for income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 46,273
Net income from continuing operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 2,565,559
Income attributable to non-controlling interests | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 241,430
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 2,324,129
Net loss from discontinued operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (607,314)
Net income attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | $ | 1,716,815
​ Depreciation and amortization expenses for the three months ended March 31, 2022 for the retail, bulk, services and manufacturing segments were $615,685, $702,259, $158,999 and $71,208, respectively. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of March 31, 2023
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Accounts receivable, net | ​ | $ | 3,227,894 | ​ | $ | 16,841,269 | ​ | $ | 7,081,934 | ​ | $ | 2,398,966 | ​ | $ | 29,550,063
Inventory, current and non-current | ​ | $ | 2,883,585 | ​ | $ | 4,173,385 | ​ | $ | 1,613,984 | ​ | $ | 5,167,112 | ​ | $ | 13,838,066
Property, plant and equipment, net | ​ | $ | 27,246,976 | ​ | $ | 21,953,978 | ​ | $ | 701,393 | ​ | $ | 1,582,137 | ​ | $ | 51,484,484
Construction in progress | ​ | $ | 4,799,471 | ​ | $ | — | ​ | $ | — | ​ | $ | 61,792 | ​ | $ | 4,861,263
Intangibles, net | ​ | $ | — | ​ | $ | — | ​ | $ | 1,951,111 | ​ | $ | 731,111 | ​ | $ | 2,682,222
Goodwill | ​ | $ | 1,170,511 | ​ | $ | 1,948,875 | ​ | $ | 5,320,416 | ​ | $ | 1,985,211 | ​ | $ | 10,425,013
Total segment assets | ​ | $ | 62,524,167 | ​ | $ | 58,011,877 | ​ | $ | 43,164,635 | ​ | $ | 16,413,020 | ​ | $ | 180,113,699
Assets of discontinued operations | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 21,498,649
Total assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 201,612,348
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of December 31, 2022
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Accounts receivable, net | ​ | $ | 2,953,927 | ​ | $ | 16,554,940 | ​ | $ | 5,838,721 | ​ | $ | 1,698,594 | ​ | $ | 27,046,182
Inventory, current and non-current | ​ | $ | 2,759,659 | ​ | $ | 4,037,684 | ​ | $ | — | ​ | $ | 3,481,486 | ​ | $ | 10,278,829
Property, plant and equipment, net | ​ | $ | 27,697,490 | ​ | $ | 22,510,658 | ​ | $ | 759,409 | ​ | $ | 1,561,988 | ​ | $ | 52,529,545
Construction in progress | ​ | $ | 3,643,889 | ​ | $ | — | ​ | $ | — | ​ | $ | 61,792 | ​ | $ | 3,705,681
Intangibles, net | ​ | $ | — | ​ | $ | — | ​ | $ | 2,064,444 | ​ | $ | 754,444 | ​ | $ | 2,818,888
Goodwill | ​ | $ | 1,170,511 | ​ | $ | 1,948,875 | ​ | $ | 5,320,416 | ​ | $ | 1,985,211 | ​ | $ | 10,425,013
Total segment assets | ​ | $ | 65,853,789 | ​ | $ | 56,118,243 | ​ | $ | 36,319,078 | ​ | $ | 13,054,971 | ​ | $ | 171,346,081
Assets of discontinued operations | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | $ | 21,660,768
Total assets | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | $ | 193,006,849
​

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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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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