Segment Information

3 Months Ended

Jul. 03, 2021

Segment Reporting [Abstract]

Segment Information

12. Segment Information

Financial results for the Company's reportable segments have been prepared using a management approach, which is consistent with the basis and manner in which financial information is evaluated by the Company's chief operating decision maker in allocating resources and in assessing performance. The Company’s chief operating decision maker, the Chief Executive Officer, evaluates the performance of the Company’s segments primarily based on net sales, earnings before interest, taxes, depreciation, and amortization (“EBITDA”) and operating assets.

The Company operates in two reportable segments: (i) U.S. Factory-built Housing, which includes manufacturing and retail housing operations and (ii) Canadian Factory-built Housing. Corporate/Other includes the Company’s transportation operations, corporate costs incurred for all segments and intersegment eliminations. Segments are generally determined by geography. Segment data includes intersegment revenues and corporate office costs that are directly and exclusively incurred for each segment. Total assets for Corporate/Other primarily includes cash and certain deferred tax items not specifically allocated to another segment.

Selected financial information by reportable segment was as follows:

	Three months ended
(Dollars in thousands)	July 3, 2021			June 27, 2020
Net sales:
U.S. Factory-built Housing	$	457,320		$	248,859
Canadian Factory-built Housing		37,831			15,195
Corporate/Other		15,046			9,231
Consolidated net sales	$	510,197		$	273,285
Operating income:
U.S. Factory-built Housing EBITDA	$	63,017		$	23,793
Canadian Factory-built Housing EBITDA		5,666			1,292
Corporate/Other EBITDA		(5,977	)		(7,607	)
Other income		(54	)		—
Depreciation		(3,257	)		(2,921	)
Amortization		(1,888	)		(1,361	)
Consolidated operating income	$	57,507		$	13,196
Depreciation:
U.S. Factory-built Housing	$	2,610		$	2,398
Canadian Factory-built Housing		285			115
Corporate/Other		362			408
Consolidated depreciation	$	3,257		$	2,921
Amortization of U.S. Factory-built Housing intangible assets:	$	1,888		$	1,361
Capital expenditures:
U.S. Factory-built Housing	$	7,258		$	885
Canadian Factory-built Housing		105			157
Corporate/Other		1,858			269
Consolidated capital expenditures	$	9,221		$	1,311
(Dollars in thousands)	July 3, 2021			April 3, 2021
Total Assets:
U.S. Factory-built Housing (1)	$	602,941		$	578,897
Canadian Factory-built Housing (1)		91,561			87,224
Corporate/Other (1)		291,895			251,781
Consolidated total assets	$	986,397		$	917,902

(1)Deferred tax assets for the Canadian operations are reflected in the Canadian Factory-built Housing segment. U.S. deferred tax assets are presented in Corporate/Other because an allocation between segments is not practicable.