Segment Information

12 Months Ended

Dec. 31, 2023

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

Segment Information

SEGMENT INFORMATION

The Company is organized into four reportable segments on the basis of the production processes, products and services provided by each segment, identified as follows:

(i)Renewables, which primarily includes designing, engineering, manufacturing and installation of solar racking and electrical balance of systems;

(ii)Residential, which primarily includes designing, engineering and manufacturing of roof and foundation ventilation products, centralized mail systems and electronic package solutions, retractable awnings and gutter guards, and rain dispersion products, trims and flashings and other accessories;

(iii)Agtech, which provides growing solutions including the designing, engineering, manufacturing and installation of greenhouses; and

(iv)Infrastructure, which primarily includes designing, engineering and manufacturing of structural bearings, expansion joints and pavement sealant for bridges, airport runways and roadways, elastomeric concrete, and bridge cable protection systems.

When determining the reportable segments, the Company aggregated operating segments based on their similar economic and operating characteristics.

The following tables illustrate certain measurements used by management to assess the performance of the segments described above as of and for the years ended December 31 (in thousands):

	2023		2022		2021
Net sales:
Renewables	$	330,738	$	377,567	$	432,096
Residential	814,803		767,248		635,505
Agtech	144,967		168,868		199,161
Infrastructure	87,228		76,283		73,021
Total consolidated net sales	$	1,377,736	$	1,389,966	$	1,339,783
Income from operations:
Renewables	$	30,160	$	25,243	$	20,158
Residential	143,068		126,458		105,821
Agtech	(928)		2,914		(931)
Infrastructure	18,529		9,003		8,911
Segments income from operations	190,829		163,618		133,959
Unallocated corporate expenses	(40,100)		(33,516)		(36,971)
Total income from operations	$	150,729	$	130,102	$	96,988
Depreciation and Amortization
Renewables	$	8,671	$	8,467	$	14,682
Residential	10,080		8,983		8,694
Agtech	3,789		4,377		5,279
Infrastructure	3,137		3,150		3,092
Unallocated corporate expenses	1,701		1,190		219
	$	27,378	$	26,167	$	31,966

	2023		2022		2021
Total assets
Renewables	$	377,694	$	392,368	$	445,486
Residential	515,739		519,567		453,469
Agtech	168,213		193,966		212,038
Infrastructure	77,518		80,264		82,662
Unallocated corporate assets	117,287		24,448		21,246
	$	1,256,451	$	1,210,613	$	1,214,901
Capital expenditures
Renewables	$	1,113	$	3,589	$	4,268
Residential	6,913		10,050		4,182
Agtech	1,419		3,177		3,289
Infrastructure	1,313		1,898		2,097
Unallocated corporate expenditures	4,239		1,424		3,869
	$	14,997	$	20,138	$	17,705

The following tables illustrate revenue disaggregated by timing of transfer of control to the customer for the years ended December 31 (in thousands):

	2023
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	49,123	$	808,225	$	4,920	$	31,547	$	893,815
Over Time	281,615		6,578		140,047		55,681		483,921
Total	$	330,738	$	814,803	$	144,967	$	87,228	$	1,377,736
	2022
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	27,317	$	761,576	$	13,011	$	32,983	$	834,887
Over Time	350,250		5,672		155,857		43,300		555,079
Total	$	377,567	$	767,248	$	168,868	$	76,283	$	1,389,966
	2021
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	28,630	$	630,494	$	20,157	$	32,512	$	711,793
Over Time	403,466		5,011		179,004		40,509		627,990
Total	$	432,096	$	635,505	$	199,161	$	73,021	$	1,339,783

Net sales by region or origin and long-lived assets by region of domicile for the years ended and as of December 31 were as follows (in thousands):

	2023		2022		2021
Net sales
North America	$	1,366,012	$	1,373,907	$	1,318,795
Asia	11,724		16,059		20,988
Total	$	1,377,736	$	1,389,966	$	1,339,783
Long-lived assets
North America	$	154,778	$	136,553	$	97,003
Asia	59		234		365
Total	$	154,837	$	136,787	$	97,368