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Segment Disclosure
 3 Months Ended
Mar. 31, 2024
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 March 31,
 20242023
Revenue  
North America$150,349 $136,932 
International33,047 29,407 
Products and Systems3,210 3,739 
Corporate and eliminations(2,164)(2,062)
 $184,442 $168,016 
 
 Three months ended March 31,
 20242023
Gross profit  
North America$39,991 $36,637 
International9,459 7,367 
Products and Systems1,613 2,063 
Corporate and eliminations27 10 
 $51,090 $46,077 

Income (loss) from operations by operating segment includes intercompany transactions, which are eliminated in Corporate and eliminations.
 Three months ended March 31,
 20242023
Income (loss) from operations  
North America$13,561 $9,378 
International1,124 (568)
Products and Systems314 384 
Corporate and eliminations(9,446)(11,024)
 $5,553 $(1,830)
  
 Three months ended March 31,
 20242023
Depreciation and amortization  
North America$6,218 $6,357 
International1,913 1,859 
Products and Systems164 256 
Corporate and eliminations86 (59)
 $8,381 $8,413 
 
 March 31, 2024December 31, 2023
Intangible assets, net  
North America$35,803 $37,622 
International2,537 2,998 
Products and Systems1,089 1,168 
Corporate and eliminations3,231 2,206 
 $42,660 $43,994 
 
 March 31, 2024December 31, 2023
Total assets  
North America$411,853 $402,782 
International99,518 99,398 
Products and Systems12,859 13,259 
Corporate and eliminations17,897 19,337 
 $542,127 $534,776 
 
Refer to Note 2 - Revenue, for revenue by geographic area for the three months ended March 31, 2024 and 2023.