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Note 4 - Reportable Segments
 12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

NOTE 4 – REPORTABLE SEGMENTS

 

We evaluate our performance based on segment operating (loss). Interest expense, income tax expense and losses related to equity method investments are excluded from the computation of operating (loss) for the segments. Segment net revenue, segment operating expenses and segment operating (loss) information consisted of the following for the year ended December 31, 2023:

 

  

Year Ended December 31, 2023

 

(in thousands)

 

Land and

Water

Resources

  

Water

Filtration

Technology

  

Total

 
             
             

Total revenues

  1,251   740   1,991 
             

Costs and expenses:

            

Cost of sales

  2,241   646   2,887 

General and administrative

  18,042   755   18,797 

Depreciation

  1,096   151   1,247 
             

Total costs and expenses

  21,379   1,552   22,931 
             

Operating loss

 $(20,128) $(812) $(20,940)

 

The Company only operated in one segment during the year ended December 31, 2022, as the water filtration technology segment did not exist prior to the ATEC Acquisition in November 2022.

 

Assets by operating segment, inclusive of goodwill, are as follows (dollars in thousands):

 

  

December 31,

2023

  

December 31,

2022

 

Operating Segment:

        

Water and Land Resources

 $101,946  $107,439 

Water Filtration Technology

  5,428   3,348 
  $107,374  $110,787 

 

 

Goodwill by operating segment is as follows (dollars in thousands):

 

  

December 31,

2023

  

December 31,

2022

 

Operating Segment:

        

Water and Land Resources

 $3,813  $3,813 

Water Filtration Technology

  1,901   1,901 
  $5,714  $5,714 

 

Property, plant, equipment and water programs consist of the following (dollars in thousands):

 

  

December 31, 2023

 
  

Water and Land

Resources

  

Water Filtration

Technology

 
         

Land and land improvements

 $32,357  $- 

Water programs

  29,209   - 

Pipeline

  22,096   - 

Buildings

  1,730   - 

Leasehold improvements, furniture and fixtures

  1,605   4 

Machinery and equipment

  3,719   210 

Construction in progress

  5,664   - 
   96,380   214 

Less accumulated depreciation

  (9,238)  (139)
  $87,142  $75 

 

  

December 31, 2022

 
  

Water and Land

Resources

  

Water Filtration

Technology

 
         

Land and land improvements

 $30,579  $- 

Water programs

  29,210   - 

Pipeline

  22,091   - 

Buildings

  1,715   - 

Leasehold improvements, furniture and fixtures

  1,606   3 

Machinery and equipment

  3,229   166 

Construction in progress

  3,680   - 
   92,110   169 

Less accumulated depreciation

  (8,141)  - 
  $83,969  $169