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Segmented information | 12 Months Ended
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Mar. 31, 2012
Segmented information [Abstract] |
Segmented information | 23. Segmented information a) General overview The Company operates in the following reportable business segments, which follow the organization, management and reporting structure within the Company:
• |  | Heavy Construction and Mining:
The Heavy Construction and Mining segment provides mining and site preparation services, including overburden removal and reclamation services, project management, underground utility construction, equipment rental to a variety of customers, environmental services including construction and modification of tailing ponds and reclamation of completed mine sites to environmental standards throughout Canada.
• |  | Piling:
The Piling segment provides deep foundation construction and design build services to a variety of industrial and commercial customers throughout Western Canada and Ontario. It also designs and manufactures screw piles and pipeline anchoring systems and provides tank maintenance services to the petro-chemical industry across Canada and the United States and sells pipeline anchoring systems globally.
• |  | Pipeline:
The Pipeline segment provides both small and large diameter pipeline construction and installation services as well as equipment rental to energy and industrial clients throughout Western Canada. The accounting policies of the reportable operating segments are the same as those described in the significant accounting policies in note 2. Certain business units of the Company have been aggregated into the Heavy Construction and Mining segment as they have similar economic characteristics based on the nature of the services provided, the customer base and the resources used to provide these services. b) Results by business segment
For the year ended March 31, 2012 |  | Heavy Construction and Mining |  |  |  |  | Piling |  |  |  |  | Pipeline |  |  |  |  | Total |
Revenue from external customers |  |  | $670,720 |  |  |  |  |  | $185,321 |  |  |  |  |  | $150,504 |  |  |  |  |  | $1,006,545 |
Depreciation of property, plant and equipment |  |  | 35,804 |  |  |  |  |  | 3,912 |  |  |  |  |  | 1,045 |  |  |  |  |  | 40,761 |
Segment profits (loss) |  |  | 86,567 |  |  |  |  |  | 46,012 |  |  |  |  |  | (11,322) |  |  |  |  |  | 121,257 |
Segment assets |  |  | 426,625 |  |  |  |  |  | 142,131 |  |  |  |  |  | 70,602 |  |  |  |  |  | 639,358 |
Capital expenditures |  |  | 42,001 |  |  |  |  |  | 12,570 |  |  |  |  |  | 4,110 |  |  |  |  |  | 58,681 |
For the year ended March 31, 2011 |  | Heavy Construction and Mining |  |  |  |  | Piling |  |  |  |  | Pipeline |  |  |  |  | Total |
Revenue from external customers |  |  | $667,037 |  |  |  |  |  | $105,559 |  |  |  |  |  | $85,452 |  |  |  |  |  | $858,048 |
Depreciation of property, plant and equipment |  |  | 28,832 |  |  |  |  |  | 3,636 |  |  |  |  |  | 550 |  |  |  |  |  | 33,018 |
Segment profits (loss) |  |  | 50,703 |  |  |  |  |  | 18,455 |  |  |  |  |  | (3,034) |  |  |  |  |  | 66,124 |
Segment assets |  |  | 423,947 |  |  |  |  |  | 116,623 |  |  |  |  |  | 37,053 |  |  |  |  |  | 577,623 |
Capital expenditures |  |  | 29,577 |  |  |  |  |  | 2,560 |  |  |  |  |  | 1,124 |  |  |  |  |  | 33,261 |
For the year ended March 31, 2010 |  | Heavy Construction and Mining |  |  |  |  | Piling |  |  |  |  | Pipeline |  |  |  |  | Total |
Revenue from external customers |  |  | $665,514 |  |  |  |  |  | $68,531 |  |  |  |  |  | $24,920 |  |  |  |  |  | $758,965 |
Depreciation of property, plant and equipment |  |  | 34,419 |  |  |  |  |  | 2,842 |  |  |  |  |  | 153 |  |  |  |  |  | 37,414 |
Segment profits (loss) |  |  | 111,016 |  |  |  |  |  | 11,288 |  |  |  |  |  | (3,851) |  |  |  |  |  | 118,453 |
Segment assets |  |  | 435,098 |  |  |  |  |  | 92,980 |  |  |  |  |  | 14,765 |  |  |  |  |  | 542,843 |
Capital expenditures |  |  | 40,431 |  |  |  |  |  | 1,081 |  |  |  |  |  | 948 |  |  |  |  |  | 42,460 |
c) Reconciliations i) Income (loss) before income taxes
Year ended March 31, |  | 2012 |  |  |  |  | 2011 |  |  |  |  | 2010 |
Total profit for reportable segments |  |  | $121,257 |  |  |  |  |  | $66,124 |  |  |  |  |  | $118,453 |
Less: Unallocated equipment costs (recoveries) (i) |  |  | 60,356 |  |  |  |  |  | 7,988 |  |  |  |  |  | (20,832 | )
Gross profit |  |  | $60,901 |  |  |  |  |  | $58,136 |  |  |  |  |  | $139,285 |
Less: unallocated corporate items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General and administrative expenses |  |  | 54,400 |  |  |  |  |  | 59,828 |  |  |  |  |  | 62,516 |
Loss on disposal of property, plant and equipment |  |  | 1,741 |  |  |  |  |  | 1,948 |  |  |  |  |  | 1,233 |
(Gain) loss on disposal of assets held for sale |  |  | (466 | ) |  |  |  |  | 825 |  |  |  |  |  | 373 |
Amortization of intangible assets |  |  | 5,702 |  |  |  |  |  | 3,540 |  |  |  |  |  | 1,719 |
Equity in (earnings) loss of unconsolidated joint venture |  |  | (86 | ) |  |  |  |  | 2,720 |  |  |  |  |  | (44 | )
Interest expense, net |  |  | 30,325 |  |  |  |  |  | 29,991 |  |  |  |  |  | 26,080 |
Foreign exchange loss (gain) |  |  | 52 |  |  |  |  |  | (1,659 | ) |  |  |  |  | (48,901 | )
Realized and unrealized (gain) loss on derivative financial instruments |  |  | (2,382 | ) |  |  |  |  | (2,305 | ) |  |  |  |  | 54,411 |
Loss on debt extinguishment |  |  | – |  |  |  |  |  | 4,346 |  |  |  |  |  | – |
(Loss) income before income taxes |  |  | $(28,385 | ) |  |  |  |  | $(41,098 | ) |  |  |  |  | $41,898 |
(i) | Unallocated equipment costs represent actual equipment costs, including non-cash items such as depreciation, which have not been allocated to reportable segments. Unallocated equipment recoveries arise when actual equipment costs charged to the reportable segment exceed actual equipment costs incurred.
ii) Total assets
|  |  |  | March 31, 2012 |  |  |  |  | March 31, 2011 |
Corporate assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  |  |  | $1,400 |  |  |  |  |  | $722 |
Property, plant and equipment |  |  |  |  | 23,017 |  |  |  |  |  | 24,831 |
Deferred tax assets |  |  |  |  | 60,442 |  |  |  |  |  | 51,649 |
Other |  |  |  |  | 25,776 |  |  |  |  |  | 28,132 |
Total corporate assets |  |  |  |  | $110,635 |  |  |  |  |  | $105,334 |
Total assets for reportable segments |  |  |  |  | 639,358 |  |  |  |  |  | 577,623 |
Total assets |  |  |  |  | $749,993 |  |  |  |  |  | $682,957 |
The Company’s goodwill of $32,901 is assigned to the Piling segment. All of the Company’s assets are located in Canada and the United States. iii) Depreciation of property, plant and equipment
Year ended March 31, |  | 2012 |  |  |  |  | 2011 |  |  |  |  | 2010 |
Total depreciation for reportable segments |  |  | $40,761 |  |  |  |  |  | $33,018 |  |  |  |  |  | $37,414 |
Depreciation for corporate assets |  |  | 8,139 |  |  |  |  |  | 6,422 |  |  |  |  |  | 5,222 |
Total depreciation |  |  | $48,900 |  |  |  |  |  | $39,440 |  |  |  |  |  | $42,636 |
iv) Capital expenditures for long-lived assets
Year ended March 31, |  | 2012 |  |  |  |  | 2011 |  |  |  |  | 2010 |
Total capital expenditures for reportable segments |  |  | $58,681 |  |  |  |  |  | $33,261 |  |  |  |  |  | $42,460 |
Capital expenditures for corporate assets |  |  | 6,615 |  |  |  |  |  | 7,904 |  |  |  |  |  | 12,790 |
Total capital expenditures for long-lived assets |  |  | $65,296 |  |  |  |  |  | $41,165 |  |  |  |  |  | $55,250 |
d) Customers The following customers accounted for 10% or more of total revenues:
Year ended March 31, |  | 2012 |  |  |  |  | 2011 |  |  |  |  | 2010 |
Customer A |  |  | 21% |  |  |  |  |  | 29% |  |  |  |  |  | 51% |
Customer B |  |  | 16% |  |  |  |  |  | 8% |  |  |  |  |  | 5% |
Customer C |  |  | 11% |  |  |  |  |  | 10% |  |  |  |  |  | 9% |
Customer D |  |  | 10% |  |  |  |  |  | 24% |  |  |  |  |  | 19% |
The revenue by major customer was earned mainly by the Heavy Construction and Mining segment. e) Geographic information i) The geographic revenue distribution for the Company is as follows:
Year ended March 31, |  | 2012 |  |  |  |  | 2011 |  |  |  |  | 2010 |
Canada |  |  | $996,916 |  |  |  |  |  | $855,963 |  |  |  |  |  | $758,965 |
International |  |  | 6,935 |  |  |  |  |  | 1,046 |  |  |  |  |  | – |
United States |  |  | 2,694 |  |  |  |  |  | 1,039 |  |  |  |  |  | – |
|  |  | $1,006,545 |  |  |  |  |  | $858,048 |  |  |  |  |  | $758,965 |
ii) The geographic distribution of long-lived assets is as follows:
|  | March 31, 2012 |  |  |  |  | March 31, 2011 |
Canada |  |  | $367,240 |  |  |  |  |  | $381,577 |
United States |  |  | 179 |  |  |  |  |  | 96 |
|  |  | $367,419 |  |  |  |  |  | $381,673 |

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
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