Segment Information

3 Months Ended

Jun. 27, 2020

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 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 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)	June 27, 2020			June 29, 2019
Net sales:
U.S. Factory-built Housing	$	248,859		$	331,605
Canadian Factory-built Housing		15,195			23,700
Corporate/Other		9,231			16,583
Consolidated net sales	$	273,285		$	371,888
Operating income:
U.S. Factory-built Housing EBITDA	$	23,793		$	36,145
Canadian Factory-built Housing EBITDA		1,292			3,055
Corporate/Other EBITDA		(7,607	)		(10,408	)
Depreciation		(2,921	)		(3,110	)
Amortization		(1,361	)		(1,362	)
Consolidated operating income	$	13,196		$	24,320
Depreciation:
U.S. Factory-built Housing	$	2,398		$	2,638
Canadian Factory-built Housing		115			242
Corporate/Other		408			230
Consolidated depreciation	$	2,921		$	3,110
Amortization of intangible assets:
U.S. Factory-built Housing	$	1,361		$	1,362
Canadian Factory-built Housing		—			—
Corporate/Other		—			—
Consolidated amortization of intangible assets	$	1,361		$	1,362
Capital expenditures:
U.S. Factory-built Housing	$	885		$	3,358
Canadian Factory-built Housing		157			111
Corporate/Other		269			1,057
Consolidated capital expenditures	$	1,311		$	4,526
(Dollars in thousands)	June 27, 2020			March 28, 2020
Total Assets:
U.S. Factory-built Housing (1)	$	476,497		$	491,110
Canadian Factory-built Housing (1)		61,228			56,760
Corporate/Other (1)		252,597			233,830
Consolidated total assets	$	790,322		$	781,700

(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.