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Segment Information
 6 Months Ended
Sep. 28, 2019
Segment Reporting [Abstract]  
Segment Information

14.

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 segment 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 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. 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

 

 

Six Months Ended

 

(Dollars in thousands)

 

September 28,

2019

 

 

September 29,

2018

 

 

September 28,

2019

 

 

September 29,

2018

 

 

 

 

 

 

 

 

Net sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Factory-built Housing

 

$

312,830

 

 

$

306,615

 

 

$

644,435

 

 

$

572,739

 

Canadian Factory-built Housing

 

 

26,407

 

 

 

25,401

 

 

 

50,107

 

 

 

52,755

 

Corporate/Other

 

 

15,221

 

 

 

23,420

 

 

 

31,804

 

 

 

52,203

 

Consolidated net sales

 

$

354,458

 

 

$

355,436

 

 

$

726,346

 

 

$

677,697

 

Operating income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Factory-built Housing EBITDA

 

$

35,314

 

 

$

26,687

 

 

$

71,459

 

 

$

49,603

 

Canadian Factory-built Housing EBITDA

 

 

4,244

 

 

 

3,035

 

 

 

7,299

 

 

 

6,555

 

Corporate/Other EBITDA

 

 

(8,998

)

 

 

(94,744

)

 

 

(19,406

)

 

 

(108,197

)

Depreciation

 

 

(3,545

)

 

 

(2,845

)

 

 

(6,655

)

 

 

(5,275

)

Amortization

 

 

(1,362

)

 

 

(1,202

)

 

 

(2,724

)

 

 

(1,683

)

Consolidated operating income

 

$

25,653

 

 

$

(69,069

)

 

$

49,973

 

 

$

(58,997

)

Depreciation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Factory-built Housing

 

$

3,068

 

 

$

2,415

 

 

$

5,706

 

 

$

4,460

 

Canadian Factory-built Housing

 

 

247

 

 

 

227

 

 

 

489

 

 

 

458

 

Corporate/Other

 

 

230

 

 

 

203

 

 

 

460

 

 

 

357

 

Consolidated depreciation

 

$

3,545

 

 

$

2,845

 

 

$

6,655

 

 

$

5,275

 

Amortization of intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Factory-built Housing

 

$

1,362

 

 

$

1,142

 

 

$

2,724

 

 

$

1,562

 

Canadian Factory-built Housing

 

 

—

 

 

 

60

 

 

 

—

 

 

 

121

 

Corporate/Other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Consolidated amortization of intangible assets

 

$

1,362

 

 

$

1,202

 

 

$

2,724

 

 

$

1,683

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Factory-built Housing

 

$

4,144

 

 

$

2,176

 

 

$

7,502

 

 

$

3,456

 

Canadian Factory-built Housing

 

 

317

 

 

 

204

 

 

 

428

 

 

 

414

 

Corporate/Other

 

 

422

 

 

 

285

 

 

 

1,479

 

 

 

814

 

Consolidated capital expenditures

 

$

4,883

 

 

$

2,665

 

 

$

9,409

 

 

$

4,684

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

September 28,

2019

 

 

March 30,

2019

 

Total Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Factory-built Housing (1)

 

 

 

 

 

 

 

 

 

$

491,699

 

 

$

488,878

 

Canadian Factory-built Housing (1)

 

 

 

 

 

 

 

 

 

 

62,879

 

 

 

59,260

 

Corporate/Other (1)

 

 

 

 

 

 

 

 

 

 

176,972

 

 

 

151,816

 

Consolidated total assets

 

 

 

 

 

 

 

 

 

$

731,550

 

 

$

699,954

 

 

(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.