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Note 17 - Segment Information | 12 Months Ended
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Dec. 31, 2021
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
17. | SEGMENT INFORMATION:
The operating segments reported below are based on the nature of the products sold and the manufacturing process used by the Company and are the segments of the Company for which separate financial information is available and for which operating results are regularly evaluated by the Company’s chief operating decision maker, its Chief Executive Officer, to make decisions about resources to be allocated to the segment and assess its performance. Management evaluates segment performance based on gross profit. The Company does not allocate selling, general, and administrative expenses, interest, other non-operating income or expense items, or taxes to segments. The Company’s Engineered Steel Pressure Pipe segment manufactures large-diameter, high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems. These products are also used for hydroelectric power systems, wastewater systems, and other applications. In addition, SPP makes products for industrial plant piping systems and certain structural applications. SPP has manufacturing facilities located in Portland, Oregon; Adelanto, California; Saginaw, Texas; Tracy, California; Parkersburg, West Virginia; St. Louis, Missouri; and San Luis Río Colorado, Mexico. The Company’s Precast Infrastructure and Engineered Systems segment manufactures high-quality precast and reinforced concrete products, including manholes, box culverts, vaults, catch basins, oil water separators, pump lift stations, biofiltration, and other environmental and engineered solutions. Precast has manufacturing facilities located in Houston, Texas; Orem, Utah; Dallas, Texas; Salt Lake City, Utah; San Antonio, Texas; and St. George, Utah. The following table disaggregates revenue as well as other financial information based on the Company’s reportable segments (in thousands):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
Engineered Steel Pressure Pipe |  | $ | 259,823 |  |  | $ | 241,690 |  |  | $ | 279,317 |
Precast Infrastructure and Engineered Systems |  |  | 73,490 |  |  |  | 44,217 |  |  |  | - |
Total |  | $ | 333,313 |  |  | $ | 285,907 |  |  | $ | 279,317 |
Gross profit: |  |  |  |  |  |  |  |  |  |  |  |
Engineered Steel Pressure Pipe |  | $ | 31,281 |  |  | $ | 44,293 |  |  | $ | 47,184 |
Precast Infrastructure and Engineered Systems |  |  | 12,973 |  |  |  | 6,226 |  |  |  | - |
Total |  | $ | 44,254 |  |  | $ | 50,519 |  |  | $ | 47,184 |
Depreciation and amortization expense: |  |  |  |  |  |  |  |  |  |  |  |
Engineered Steel Pressure Pipe |  | $ | 9,524 |  |  | $ | 10,746 |  |  | $ | 12,363 |
Precast Infrastructure and Engineered Systems |  |  | 3,738 |  |  |  | 3,407 |  |  |  | - |
|  |  | 13,262 |  |  |  | 14,153 |  |  |  | 12,363 |
Corporate |  |  | 362 |  |  |  | 398 |  |  |  | 350 |
Total |  | $ | 13,624 |  |  | $ | 14,551 |  |  | $ | 12,713 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Engineered Steel Pressure Pipe |  | $ | 7,538 |  |  | $ | 12,031 |  |  | $ | 8,033 |
Precast Infrastructure and Engineered Systems |  |  | 5,255 |  |  |  | 1,397 |  |  |  | - |
|  |  | 12,793 |  |  |  | 13,428 |  |  |  | 8,033 |
Corporate |  |  | 469 |  |  |  | 585 |  |  |  | 552 |
Total |  | $ | 13,262 |  |  | $ | 14,013 |  |  | $ | 8,585 |
The following table disaggregates total assets based on the Company’s reportable segments (in thousands):
|  | December 31, |
|  | 2021 |  |  | 2020 |
Total assets: |  |  |  |  |  |  |  |
Engineered Steel Pressure Pipe |  | $ | 308,819 |  |  | $ | 249,680 |
Precast Infrastructure and Engineered Systems |  |  | 228,627 |  |  |  | 77,765 |
|  |  | 537,446 |  |  |  | 327,445 |
Corporate |  |  | 10,233 |  |  |  | 45,570 |
Total |  | $ | 547,679 |  |  | $ | 373,015 |

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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=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
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