Industry Segment and Geographic Areas

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Industry Segment and Geographic Areas

Note 9 Industry Segment and Geographic Areas

The Company is an innovator, manufacturer, developer, marketer and distributor of water management solutions incorporating hardware and sensors, communication solutions and data analytics, which comprise one reportable segment. The Company concludes on their segments based on the internally reported financial information that is routinely reviewed by the chief operating decision maker (“CODM”) to assess financial performance, make decisions and allocate resources. The Company manages and evaluates its operations as one segment primarily due to similarities in the nature of the products, production processes, customers and methods of distribution. The Company’s CODM is the Chairman, President and Chief Executive Officer.

The Company’s CODM assesses performance by using gross margin, operating earnings and net earnings. These metrics are analyzed by reviewing budget versus actual and prior year versus current year reporting. The various income performance measures are reviewed to ensure proper pricing strategies and effective cost controls across the organization. The CODM is regularly provided with consolidated expenses as noted on the consolidated income statements. Additionally, the CODM reviews assets at the same level as noted on the consolidated balance sheets.

Information regarding revenues by geographic area is as follows:

	2024		2023		2022
	(In thousands)
Revenues:
United States	$	745,192	$	621,166	$	491,683
Foreign:
Asia		11,239		13,545		14,995
Canada		10,447		12,958		12,768
Europe		37,293		39,106		28,718
Mexico		3,620		4,258		3,931
Middle East		16,776		10,381		9,286
Other		1,991		2,178		4,187
Total	$	826,558	$	703,592	$	565,568

Information regarding assets by geographic area is as follows:

	2024		2023
	(In thousands)
Long-lived assets:
United States	$	43,556	$	43,882
Foreign:
Europe		13,727		12,807
Mexico		16,977		17,189
Total	$	74,260	$	73,878

	2024		2023
	(In thousands)
Total assets:
United States	$	661,843	$	550,018
Foreign:
Europe		131,892		140,999
Mexico		22,678		25,902
Total	$	816,413	$	716,919