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Segment Disclosure
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Segment Disclosure Segment Disclosure
 
The Company’s three operating segments are:
 
•North America. This segment provides asset protection solutions predominantly in North America, with the largest concentration in the United States, followed by Canada, consisting primarily of NDT, inspection, mechanical and engineering services that are used to evaluate the safety, structural integrity and reliability of critical energy, industrial and public infrastructure and commercial aerospace components. Software, digital and data services are included in this segment.
 
•International. This segment offers services, products and systems similar to those of the other segments to select markets within Europe, the Middle East, Africa, Asia and South America, but not to customers in China and South Korea, which are served by the Products and Systems segment.
 
•Products and Systems. This segment designs, manufactures, sells, installs and services the Company’s asset protection products and systems, including equipment and instrumentation, predominantly in the United States.
 
Costs incurred for general corporate services, including finance, legal, and certain other costs that are provided to the segments are reported within Corporate and eliminations. Sales to the International segment from the Products and Systems segment and subsequent sales by the International segment of the same items are recorded and reflected in the operating performance of both segments. Additionally, engineering charges and royalty fees charged to the North America and International segments by the Products and Systems segment are reflected in the operating performance of each segment.

The accounting policies of the reportable segments are the same as those described in Note 1-Description of Business and Basis of Presentation. Segment income from operations is one of the primary performance measures used by the chief operating decision maker, to assess the performance of each segment and make resource allocation decisions. Certain general and administrative costs such as human resources, information technology and training are allocated to the segments. Segment income from operations excludes interest and other financial charges and income taxes. Corporate and other assets are
comprised principally of cash, deposits, property, plant and equipment, domestic deferred taxes, deferred charges and other assets. Corporate loss from operations consists of administrative charges related to corporate personnel and other charges that cannot be readily identified for allocation to a particular segment.
 

Selected consolidated financial information by segment for the periods shown was as follows: (with intercompany transactions eliminated in Corporate and eliminations)
 
 Three months ended September 30,Nine months ended September 30,
 2023202220232022
Revenue  
North America$148,814 $152,778 $431,295 $435,251 
International30,980 25,693 90,664 83,441 
Products and Systems2,829 3,078 9,897 8,666 
Corporate and eliminations(3,269)(3,087)(8,457)(8,203)
 $179,354 $178,462 $523,399 $519,155 
 
 Three months ended September 30,Nine months ended September 30,
 2023202220232022
Gross profit  
North America$44,773 $44,869 $121,088 $118,348 
International8,481 7,694 24,247 25,324 
Products and Systems1,096 1,189 4,773 3,514 
Corporate and eliminations32 32 73 47 
 $54,382 $53,784 $150,181 $147,233 

Income (loss) from operations by operating segment includes intercompany transactions, which are eliminated in Corporate and eliminations.
 Three months ended September 30,Nine months ended September 30,
 2023202220232022
Income (loss) from operations  
North America$18,004 $16,700 $39,719 $35,315 
International(12,970)814 (13,031)2,678 
Products and Systems(557)(333)(78)(1,334)
Corporate and eliminations(9,159)(8,067)(29,228)(22,668)
 $(4,682)$9,114 $(2,618)$13,991 
  
 Three months ended September 30,Nine months ended September 30,
 2023202220232022
Depreciation and amortization    
North America$6,603 $6,168 $19,329 $18,927 
International1,915 1,858 5,663 5,835 
Products and Systems183 221 526 559 
Corporate and eliminations47 (50)(48)(189)
 $8,748 $8,197 $25,470 $25,132 
 
 September 30, 2023December 31, 2022
Intangible assets, net  
North America$38,619 $43,260 
International3,265 4,422 
Products and Systems1,260 1,208 
Corporate and eliminations1,324 125 
 $44,468 $49,015 
 
 September 30, 2023December 31, 2022
Total assets  
North America$414,190 $407,779 
International93,951 104,531 
Products and Systems13,557 12,408 
Corporate and eliminations14,992 10,186 
 $536,690 $534,904 
 
Refer to Note 2–Revenue, for revenue by geographic area for the three and nine months ended September 30, 2023 and 2022.