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Segment Information
 9 Months Ended
Dec. 29, 2018
Segment Reporting [Abstract]  
Segment Information

16.

Segment Information

The Company operates in two reportable segments: (i) U.S. Factory-built Housing, which includes wholesale and retail housing operations and (ii) Canadian Factory-built Housing. Corporate/Other includes the Company’s transportation operations, corporate costs directly 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. The Company evaluates the performance of its segments and allocates resources to them primarily based on earnings before interest, taxes, depreciation and amortization (“EBITDA”). Total assets for Corporate/Other primarily include cash and certain deferred tax items not specifically allocated to another segment.

Selected financial information by reportable segment was as follows:

 

 

Three Months Ended

 

 

Nine Months Ended

 

(Dollars in thousands)

 

December 29,

2018

 

 

December 30,

2017

 

 

December 29,

2018

 

 

December 30,

2017

 

 

 

(unaudited)

 

 

(unaudited)

 

Net sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Factory-built Housing

 

$

309,518

 

 

$

242,739

 

 

$

882,257

 

 

$

641,878

 

Canadian Factory-built Housing

 

 

27,130

 

 

 

24,950

 

 

 

79,885

 

 

 

74,006

 

Corporate/Other

 

 

18,023

 

 

 

26,689

 

 

 

70,226

 

 

 

82,559

 

Consolidated net sales

 

$

354,671

 

 

$

294,378

 

 

$

1,032,368

 

 

$

798,443

 

Operating income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Factory-built Housing EBITDA

 

$

30,637

 

 

$

27,184

 

 

$

80,240

 

 

$

52,988

 

Canadian Factory-built Housing EBITDA

 

 

2,568

 

 

 

1,836

 

 

 

9,123

 

 

 

8,475

 

Corporate/Other EBITDA

 

 

(12,740

)

 

 

(3,609

)

 

 

(120,937

)

 

 

(9,157

)

Depreciation

 

 

(2,944

)

 

 

(1,901

)

 

 

(8,219

)

 

 

(5,761

)

Amortization

 

 

(1,633

)

 

 

(127

)

 

 

(3,316

)

 

 

(365

)

Consolidated operating income (loss)

 

$

15,888

 

 

$

23,383

 

 

$

(43,109

)

 

$

46,180

 

Depreciation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Factory-built Housing

 

$

2,486

 

 

$

1,553

 

 

$

6,946

 

 

$

4,706

 

Canadian Factory-built Housing

 

 

237

 

 

 

231

 

 

 

695

 

 

 

675

 

Corporate/Other

 

 

221

 

 

 

117

 

 

 

578

 

 

 

380

 

Consolidated depreciation

 

$

2,944

 

 

$

1,901

 

 

$

8,219

 

 

$

5,761

 

Amortization of intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Factory-built Housing

 

$

1,572

 

 

$

65

 

 

$

3,134

 

 

$

182

 

Canadian Factory-built Housing

 

 

61

 

 

 

62

 

 

 

182

 

 

 

183

 

Corporate/Other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Consolidated amortization of intangible assets

 

$

1,633

 

 

$

127

 

 

$

3,316

 

 

$

365

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Factory-built Housing

 

$

1,463

 

 

$

1,485

 

 

$

4,919

 

 

$

6,505

 

Canadian Factory-built Housing

 

 

158

 

 

 

354

 

 

 

572

 

 

 

754

 

Corporate/Other

 

 

1,322

 

 

 

175

 

 

 

2,136

 

 

 

608

 

Consolidated capital expenditures

 

$

2,943

 

 

$

2,014

 

 

$

7,627

 

 

$

7,867

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

December 29,

2018

 

 

March 31,

2018

 

 

 

 

 

 

 

 

 

 

 

(unaudited)

 

 

 

 

 

Total Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S Factory-built Housing (1)

 

 

 

 

 

 

 

 

 

$

465,095

 

 

$

190,323

 

Canadian Factory-built Housing (1)

 

 

 

 

 

 

 

 

 

 

55,224

 

 

 

54,449

 

Corporate/Other (1)

 

 

 

 

 

 

 

 

 

 

157,945

 

 

 

150,626

 

Consolidated total assets

 

 

 

 

 

 

 

 

 

$

678,264

 

 

$

395,398

 

 

 

(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.