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Note 17 - Segment Information
 12 Months Ended
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