XML 49 R48.htm IDEA: XBRL DOCUMENT v3.20.1
Segment information (Tables)
 12 Months Ended
Dec. 31, 2019
Segment information  
Schedule of segment reporting information, by segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2019

 

    

Retail

    

Bulk

    

Services

    

Manufacturing

    

Total

Revenue

 

$

26,456,022

 

$

26,986,108

 

$

1,759,446

 

$

13,592,075

    

$

68,793,651

Cost of revenue

 

 

11,611,165

 

 

18,606,805

 

 

1,215,193

 

 

9,086,140

 

 

40,519,303

Gross profit

 

 

14,844,857

 

 

8,379,303

 

 

544,253

 

 

4,505,935

 

 

28,274,348

General and administrative expenses

 

 

13,422,821

 

 

1,238,296

 

 

2,740,219

 

 

1,947,622

 

 

19,348,958

Gain on asset dispositions and impairments, net

 

 

398,041

 

 

47,000

 

 

 —

 

 

 —

 

 

445,041

Income (loss) from operations

 

$

1,820,077

 

$

7,188,007

 

$

(2,195,966)

 

$

2,558,313

 

 

9,370,431

Other income, net

 

 

  

 

 

  

 

 

 

 

 

  

 

 

801,091

Income before income taxes

 

 

  

 

 

  

 

 

  

 

 

  

 

 

10,171,522

Provision for income taxes

 

 

  

 

 

  

 

 

  

 

 

  

 

 

66,621

Net income from continuing operations

 

 

  

 

 

  

 

 

  

 

 

  

 

 

10,104,901

Income from continuing operations attributable to non-controlling interests

 

 

  

 

 

  

 

 

  

 

 

  

 

 

1,549,978

Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders

 

 

  

 

 

  

 

 

  

 

 

  

 

 

8,554,923

Net income from discontinued operations

 

 

  

 

 

  

 

 

  

 

 

  

 

 

3,621,170

Net income attributable to Consolidated Water Co. Ltd. stockholders

 

 

  

 

 

  

 

 

  

 

 

  

 

$

12,176,093

 

Depreciation and amortization expenses for the year ended December 31, 2019 for the retail, bulk, services and manufacturing segments were $2,364,994,  $3,795,320,  $125,306 and $922,027, respectively.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2019

 

    

Retail

    

Bulk

    

Services

    

Manufacturing

    

Total

Accounts receivable, net

 

$

2,891,165

 

$

18,883,493

 

$

954,149

 

$

500,882

 

$

23,229,689

Property, plant and equipment, net

 

$

29,177,718

 

$

30,281,647

 

$

168,585

 

$

1,621,029

 

$

61,248,979

Construction in progress

 

$

396,214

 

$

869,792

 

$

 —

 

$

69,591

 

$

1,335,597

Intangibles, net

 

$

 —

 

$

 —

 

$

3,877,222

 

$

1,162,778

 

$

5,040,000

Goodwill

 

$

1,170,511

 

$

1,948,875

 

$

5,320,416

 

$

4,885,211

 

$

13,325,013

Land and rights of way held for development

 

$

 —

 

$

 —

 

$

24,162,523

 

$

 —

 

$

24,162,523

Total segment assets

 

$

65,554,640

 

$

69,423,770

 

$

42,459,177

 

$

14,854,557

 

$

192,292,144

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2018

 

    

Retail

    

Bulk

    

Services

    

Manufacturing

    

Total

Revenue

 

$

25,621,048

 

$

31,031,287

 

$

1,811,372

 

$

7,256,150

 

$

65,719,857

Cost of revenue

 

 

11,011,456

 

 

21,551,383

 

 

1,503,034

 

 

4,911,697

 

 

38,977,570

Gross profit

 

 

14,609,592

 

 

9,479,904

 

 

308,338

 

 

2,344,453

 

 

26,742,287

General and administrative expenses

 

 

12,029,646

 

 

1,301,042

 

 

2,889,703

 

 

2,489,028

 

 

18,709,419

(Loss) on asset dispositions and impairments, net

 

 

(12,263)

 

 

 —

 

 

(41,180)

 

 

(3,331)

 

 

(56,774)

Income (loss) from operations

 

$

2,567,683

 

$

8,178,862

 

$

(2,622,545)

 

$

(147,906)

 

 

7,976,094

Other income, net

 

 

  

 

 

  

 

 

  

 

 

  

 

 

2,740,064

Income before income taxes

 

 

  

 

 

  

 

 

  

 

 

  

 

 

10,716,158

Benefit from income taxes

 

 

  

 

 

  

 

 

  

 

 

  

 

 

(157,291)

Net income from continuing operations

 

 

  

 

 

  

 

 

  

 

 

  

 

 

10,873,449

Income from continuing operations attributable to non-controlling interests

 

 

  

 

 

  

 

 

  

 

 

  

 

 

695,787

Net income from continuing operations attributable to Consolidated Water Co. Ltd. stockholders

 

 

  

 

 

  

 

 

  

 

 

  

 

 

10,177,662

Net income from discontinued operations

 

 

  

 

 

  

 

 

  

 

 

  

 

 

1,115,825

Net income attributable to Consolidated Water Co. Ltd. stockholders

 

 

  

 

 

  

 

 

  

 

 

  

 

$

11,293,487

 

Depreciation and amortization expenses for the year ended December 31, 2018 for the retail, bulk, services and manufacturing segments were $2,019,462,  $3,387,592,  $28,386 and $1,598,794, respectively.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2018

 

    

Retail

    

Bulk

    

Services

    

Manufacturing

    

Total

Accounts receivable, net

 

$

2,947,193

 

$

18,480,589

 

$

46,960

 

$

987,475

 

$

22,462,217

Property, plant and equipment, net

 

$

24,435,501

 

$

32,820,908

 

$

14,772

 

$

1,609,637

 

$

58,880,818

Construction in progress

 

$

5,437,093

 

$

574,659

 

$

3,291

 

$

 —

 

$

6,015,043

Intangibles, net

 

$

 —

 

$

 —

 

$

 —

 

$

1,891,667

 

$

1,891,667

Goodwill

 

$

1,170,511

 

$

1,948,875

 

$

 —

 

$

4,885,211

 

$

8,004,597

Land and rights of way held for development

 

$

 —

 

$

 —

 

$

24,161,024

 

$

 —

 

$

24,161,024

Total segment assets

 

$

61,210,879

 

$

67,740,088

 

$

27,406,983

 

$

12,254,121

 

$

168,612,071

Assets of discontinued operations

 

 

 

 

 

 

 

 

 

 

 

 

 

$

3,903,527

Total assets

 

 

 

 

 

 

 

 

 

 

 

 

 

$

172,515,598

 

Schedule of revenues earned by major geographic region

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 

 

    

2019

    

2018

Cayman Islands

 

$

30,327,139

 

$

34,623,925

Bahamas

 

 

23,114,860

 

 

23,241,361

Indonesia

 

 

131

 

 

153,233

United States

 

 

14,968,868

 

 

7,256,150

Revenues earned from management services agreement with OC-BVI

 

 

382,653

 

 

445,188

 

 

$

68,793,651

 

$

65,719,857

 

Revenues earned from major customers were:

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 

 

 

    

2019

    

2018

 

Revenue earned from the Water and Sewerage Corporation ("WSC")

 

$

22,877,741

 

$

22,956,878

 

Percentage of consolidated revenue earned from the WSC

 

 

33

%  

 

35

%

Revenue earned from the Water Authority - Cayman ("WAC")

 

$

3,871,248

 

$

7,789,926

 

Percentage of consolidated revenue earned from the WAC

 

 

 6

%  

 

12

%

Revenue earned from one manufacturing segment customer

 

$

9,238,476

 

$

5,008,473

 

Percentage of consolidated revenue earned from the one manufacturing segment customer

 

 

13

%  

 

 8

%

 

Schedule of long-lived assets by geographic areas

 

 

 

 

 

 

 

 

 

December 31, 

 

    

2019

    

2018

Cayman Islands

 

$

29,059,294

 

$

24,340,063

The Bahamas

 

 

30,245,741

 

 

32,738,531

United States

 

 

1,933,717

 

 

1,787,450

All other countries

 

 

10,227

 

 

14,774

 

 

$

61,248,979

 

$

58,880,818