XML 21 R11.htm IDEA: XBRL DOCUMENT
v3.23.3

Segment information | 9 Months Ended
--- | ---
Sep. 30, 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 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 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, 2023
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Revenue | ​ | $ | 7,216,574 | ​ | $ | 8,488,615 | ​ | $ | 29,427,664 | ​ | $ | 4,721,222 |  | $ | 49,854,075
Cost of revenue | ​ |  | 3,371,891 | ​ |  | 5,835,837 | ​ |  | 20,174,645 | ​ |  | 3,857,274 | ​ |  | 33,239,647
Gross profit | ​ |  | 3,844,683 | ​ |  | 2,652,778 | ​ |  | 9,253,019 | ​ |  | 863,948 | ​ |  | 16,614,428
General and administrative expenses | ​ |  | 4,225,825 | ​ |  | 347,668 | ​ |  | 861,835 | ​ |  | 437,162 | ​ |  | 5,872,490
Income (loss) from operations | ​ | $ | (381,142) | ​ | $ | 2,305,110 | ​ | $ | 8,391,184 | ​ | $ | 426,786 | ​ |  | 10,741,938
Other income, net | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  | 236,066
Income before income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 10,978,004
Provision for income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 1,976,453
Net income from continuing operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 9,001,551
Income from continuing operations attributable to non-controlling interests | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 163,428
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 8,838,123
Net loss from discontinued operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (232,994)
Net income attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | $ | 8,605,129
​ Depreciation and amortization expenses for the three months ended September 30, 2023 for the retail, bulk, services and manufacturing segments were $593,306, $748,594, $182,825 and $68,197, respectively. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended September 30, 2022
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Revenue | ​ | $ | 6,274,650 | ​ | $ | 8,667,931 | ​ | $ | 8,731,124 | ​ | $ | 1,378,000 | ​ | $ | 25,051,705
Cost of revenue | ​ |  | 3,231,973 | ​ |  | 6,446,549 | ​ |  | 7,333,982 | ​ |  | 1,195,428 | ​ |  | 18,207,932
Gross profit | ​ |  | 3,042,677 | ​ |  | 2,221,382 | ​ |  | 1,397,142 | ​ |  | 182,572 | ​ |  | 6,843,773
General and administrative expenses | ​ |  | 3,818,459 | ​ |  | 473,534 | ​ |  | 936,708 | ​ |  | 381,949 | ​ |  | 5,610,650
Gain on asset dispositions and impairments, net | ​ |  | 1,499 | ​ |  | 2,000 | ​ |  | — | ​ |  | — | ​ |  | 3,499
Income (loss) from operations | ​ | $ | (774,283) | ​ | $ | 1,749,848 | ​ | $ | 460,434 | ​ | $ | (199,377) | ​ |  | 1,236,622
Other expense, net | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (168,980)
Income before income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 1,067,642
Provision for income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 26,616
Net income from continuing operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 1,041,026
Income attributable to non-controlling interests | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 217,415
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 823,611
Net loss from discontinued operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (505,917)
Net income attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | $ | 317,694
​ Depreciation and amortization expenses for the three months ended September 30, 2022 for the retail, bulk, services and manufacturing segments were $567,086, $707,788, $175,732 and $71,734, respectively. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Nine Months Ended September 30, 2023
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Revenue | ​ | $ | 22,560,998 | ​ | $ | 25,975,483 | ​ | $ | 66,243,328 | ​ | $ | 12,180,519 |  | $ | 126,960,328
Cost of revenue | ​ |  | 10,355,817 | ​ |  | 18,010,718 | ​ |  | 46,466,864 | ​ |  | 9,489,870 | ​ |  | 84,323,269
Gross profit | ​ |  | 12,205,181 | ​ |  | 7,964,765 | ​ |  | 19,776,464 | ​ |  | 2,690,649 | ​ |  | 42,637,059
General and administrative expenses | ​ |  | 12,668,467 | ​ |  | 1,080,543 | ​ |  | 2,855,067 | ​ |  | 1,289,990 | ​ |  | 17,894,067
Gain (loss) on asset dispositions and impairments, net | ​ |  | (7,287) | ​ |  | 12,270 | ​ |  | — | ​ |  | 1,933 | ​ |  | 6,916
Income (loss) from operations | ​ | $ | (470,573) | ​ | $ | 6,896,492 | ​ | $ | 16,921,397 | ​ | $ | 1,402,592 | ​ |  | 24,749,908
Other income, net | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ | ​ | 522,256
Income before income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 25,272,164
Provision for income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 4,366,005
Net income from continuing operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 20,906,159
Income from continuing operations attributable to non-controlling interests | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 463,775
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 20,442,384
Net loss from discontinued operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (699,858)
Net income attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | $ | 19,742,526
​ Depreciation and amortization expenses for the nine months ended September 30, 2023 for the retail, bulk, services and manufacturing segments were $1,813,280, $2,316,923, $528,258 and $204,320, respectively. ​ ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Nine Months Ended September 30, 2022
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Revenue | ​ | $ | 19,114,653 | ​ | $ | 24,442,324 | ​ | $ | 18,530,427 | ​ | $ | 3,589,333 | ​ | $ | 65,676,737
Cost of revenue | ​ |  | 9,404,124 | ​ |  | 16,781,251 | ​ |  | 14,849,029 | ​ |  | 3,177,299 | ​ |  | 44,211,703
Gross profit | ​ |  | 9,710,529 | ​ |  | 7,661,073 | ​ |  | 3,681,398 | ​ |  | 412,034 | ​ |  | 21,465,034
General and administrative expenses | ​ |  | 10,613,975 | ​ |  | 1,187,909 | ​ |  | 2,554,721 | ​ |  | 1,046,853 | ​ |  | 15,403,458
Gain on asset dispositions and impairments, net | ​ |  | 2,699 | ​ |  | 2,000 | ​ |  | 16,538 | ​ |  | — | ​ |  | 21,237
Income (loss) from operations | ​ | $ | (900,747) | ​ | $ | 6,475,164 | ​ | $ | 1,143,215 | ​ | $ | (634,819) | ​ |  | 6,082,813
Other income, net | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 548,729
Income before income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 6,631,542
Provision for income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 83,041
Net income from continuing operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 6,548,501
Income from continuing operations attributable to non-controlling interests | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 691,042
Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 5,857,459
Net loss from discontinued operations | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (1,533,064)
Net income attributable to Consolidated Water Co. Ltd. stockholders | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | $ | 4,324,395
​ Depreciation and amortization expenses for the nine months ended September 30, 2022 for the retail, bulk, services and manufacturing segments were $1,820,567, $2,114,888, $502,809 and $213,249, respectively. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of September 30, 2023
​ |  | Retail |  | Bulk |  | Services |  | Manufacturing |  | Total
Accounts receivable, net | ​ | $ | 2,710,301 | ​ | $ | 23,506,832 | ​ | $ | 10,007,905 | ​ | $ | 1,889,809 | ​ | $ | 38,114,847
Inventory, current and non-current | ​ | $ | 2,920,717 | ​ | $ | 4,881,541 | ​ | $ | 2,539,885 | ​ | $ | 2,621,535 | ​ | $ | 12,963,678
Contract assets | ​ | $ | — | ​ | $ | — | ​ | $ | 6,698,713 | ​ | $ | 2,274,027 | ​ | $ | 8,972,740
Property, plant and equipment, net | ​ | $ | 26,709,318 | ​ | $ | 20,962,912 | ​ | $ | 805,227 | ​ | $ | 1,586,067 | ​ | $ | 50,063,524
Construction in progress | ​ | $ | 6,348,267 | ​ | $ | 35,990 | ​ | $ | — | ​ | $ | 61,792 | ​ | $ | 6,446,049
Intangibles, net | ​ | $ | — | ​ | $ | — | ​ | $ | 1,724,444 | ​ | $ | 684,444 | ​ | $ | 2,408,888
Goodwill | ​ | $ | 1,170,511 | ​ | $ | 1,948,875 | ​ | $ | 5,320,416 | ​ | $ | 1,985,211 | ​ | $ | 10,425,013
Total segment assets | ​ | $ | 59,409,833 | ​ | $ | 62,538,537 | ​ | $ | 53,885,758 | ​ | $ | 14,335,484 | ​ | $ | 190,169,612
Assets of discontinued operations | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 21,427,879
Total assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 211,597,491
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 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
Contract assets | ​ | $ | — | ​ | $ | — | ​ | $ | 1,249,069 | ​ | $ | 1,664,653 | ​ | $ | 2,913,722
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
​

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 -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