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Segmented information
 12 Months Ended
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