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BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION

12. 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 Critical Power reportable segment is the Company’s Titan Energy Systems, Inc. business unit. The T&D Solutions reportable segment is the Company’s Pioneer Custom Electrical Products Corp. business unit.

 

The T&D Solutions segment is involved in the design, manufacture and sale of circuit protection and controls equipment used primarily by large industrial and commercial operations to manage their electrical power distribution needs. The Critical Power segment provides mobile high capacity charging equipment, power generation equipment and aftermarket field-services in order to help customers secure fast vehicle charging where fixed charging infrastructure does not exist, and additionally to ensure smooth, uninterrupted power to operations during times of emergency.

 

The following tables present information about segment income and loss:

SCHEDULE OF SEGMENT INCOME AND LOSS

   2023   2022 
   Three Months Ended 
   March 31, 
   2023   2022 (Revised) 
Revenues          
T&D Solutions          
Power Systems  $5,761   $3,713 
Service   -    10 
Total Revenue   5,761    3,723 
Critical Power Solutions          
Equipment   684    1,115 
Service   2,062    1,524 
 Total Revenue    2,746    2,639 
Consolidated  $8,507   $6,362 

 

   2023   2022 
   Three Months Ended 
   March 31, 
   2023   2022 (Revised) 
Depreciation and amortization          
T&D Solutions  $15   $10 
Critical Power Solutions   186    70 
Unallocated corporate overhead expenses   2    7 
Consolidated  $203   $87 

 

   2023   2022 
   Three Months Ended 
   March 31, 
   2023   2022 (Revised) 
Operating income (loss)          
T&D Solutions  $1,242   $90 
Critical Power Solutions   (437)   (155)
Unallocated corporate overhead expenses   (750)   (758)
Consolidated  $55   $(823)

 

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

SCHEDULE OF REVENUES ARE ATTRIBUTABLE TO COUNTRIES BASED ON THE LOCATION

   Three Months Ended 
   March 31, 
   2023   2022 (Revised) 
Revenues          
United States  $8,507   $6,362