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BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION

15. BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION

The Company follows ASC 280 - Segment Reporting in determining its reportable segments. The Company considered the way its management team, most notably its chief operating decision maker, makes operating decisions and assesses performance and considered which components of the Company’s enterprise have discrete financial information available. As the Company makes decisions using a manufactured products vs. distributed products and services group focus, its analysis resulted in two reportable segments: T&D Solutions and Critical Power. The T&D Solutions reportable segment is our switchgear business unit. The Critical Power reportable segment is the Company’s Titan Energy Systems Inc. business unit.

The T&D Segment is involved in the design, manufacture and distribution of switchgear used primarily by utilities, large industrial and commercial operations to manage their electrical power distribution needs. The Critical Power segment provides power generation equipment, and aftermarket field-services primarily to help customers ensure smooth, uninterrupted power to operations during times of emergency. 

The following tables present information about segment income and loss: 

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2019				2018				2019				2018
Revenues
T&D Solutions
Switchgear		$	2,737			$	883			$	3,810			$	4,585
			2,737				883				3,810				4,585
Critical Power Solutions
Equipment			267				402				441				784
Service			2,356				2,592				4,127				4,753
			2,623				2,994				4,568				5,537
Consolidated		$	5,360			$	3,877			$	8,378			$	10,122

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2019				2018				2019				2018
Depreciation and Amortization
T&D Solutions		$	37			$	90			$	71			$	181
Critical Power Solutions			37				374				73				753
Unallocated Corporate Overhead Expenses			14				16				28				32
Consolidated		$	88			$	480			$	172			$	966

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2019				2018				2019				2018
Operating Income (Loss)
T&D Solutions		$	(542	)		$	(719	)		$	(775	)		$	(565	)
Critical Power Solutions			252				(234	)			(148	)			(673	)
Unallocated Corporate Overhead Expenses			(1,260	)			(605	)			(2,070	)			(1,459	)
Consolidated		$	(1,550	)		$	(1,558	)		$	(2,993	)		$	(2,697	)

Revenues are attributable to countries based on the location of the Company’s customers: 

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2019				2018				2019				2018
Revenues
United States		$	5,360			$	3,877			$	8,378			$	10,122

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- References

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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