The Company’s segments are strategic business units that are managed separately because, while all segments derive their revenues from water-related activities, each segment sells different products and/or services, serves customers with distinctly different needs and generates different gross profit margins.

	Three Months Ended September 30, 2016
	Retail		Bulk		Services		Total
Revenues	$	5,447,200	$	7,429,732	$	1,508,421	$	14,385,353
Cost of revenues		2,464,841		4,922,162		1,079,027		8,466,030
Gross profit		2,982,359		2,507,570		429,394		5,919,323
General and administrative expenses		2,811,262		425,000		1,292,417		4,528,679
Impairment loss on long-lived assets		2,000,000		-		-		2,000,000
Impairment of goodwill		-		-		1,750,000		1,750,000
Income (loss) from operations	$	(1,828,903)	$	2,082,570	$	(2,613,023)		(2,359,356)
Other income (expense), net								(762,696)
Loss before income taxes								(3,122,052)
Provision for (benefit from) income taxes								(146,198)
Net loss								(2,975,854)
Loss attributable to non-controlling interests								(1,110,522)
Net loss attributable to Consolidated Water Co. Ltd. stockholders							$	(1,865,332)

Depreciation and amortization expenses for the three months ended September 30, 2016 for the retail, bulk and services segments were $567,833, $811,741 and $451,267, respectively.

	Three Months Ended September 30, 2015
	Retail		Bulk		Services		Total
Revenues	$	5,828,288	$	7,919,920	$	857,441	$	14,605,649
Cost of revenues		2,640,458		5,661,247		662,201		8,963,906
Gross profit		3,187,830		2,258,673		195,240		5,641,743
General and administrative expenses		2,728,473		357,995		401,499		3,487,967
Income (loss) from operations	$	459,357	$	1,900,678	$	(206,259)		2,153,776
Other income (expense), net								(302,603)
Net income								1,851,173
Income attributable to non-controlling interests								75,673
Net income attributable to Consolidated Water Co. Ltd. stockholders							$	1,775,500

Depreciation and amortization expenses for the three months ended September 30, 2015 for the retail, bulk and services segments were $583,551, $815,994 and $28,976, respectively.

	Nine Months Ended September 30, 2016
	Retail		Bulk		Services		Total
Revenues	$	17,710,271	$	22,136,086	$	3,972,403	$	43,818,760
Cost of revenues		7,779,831		14,345,747		3,004,449		25,130,027
Gross profit		9,930,440		7,790,339		967,954		18,688,733
General and administrative expenses		8,588,529		1,302,884		4,034,026		13,925,439
Impairment loss on long-lived assets		2,000,000		-		-		2,000,000
Impairment of goodwill		-		-		1,750,000		1,750,000
Income (loss) from operations	$	(658,089)	$	6,487,455	$	(4,816,072)		1,013,294
Other income (expense), net								45,698
Income before income taxes								1,058,992
Provision for (benefit from) income taxes								(389,860)
Net income								1,448,852
Loss attributable to non-controlling interests								(944,790)
Net income attributable to Consolidated Water Co. Ltd. stockholders							$	2,393,642

Depreciation and amortization expenses for the nine months ended September 30, 2016 for the retail, bulk and services segments were $1,714,928, $2,480,314 and $1,213,282, respectively.

	Nine Months Ended September 30, 2015
	Retail		Bulk		Services		Total
Revenues	$	18,116,111	$	24,489,509	$	1,151,810	$	43,757,430
Cost of revenues		8,065,019		16,777,236		1,159,836		26,002,091
Gross profit (loss)		10,051,092		7,712,273		(8,026)		17,755,339
General and administrative expenses		8,360,765		1,187,824		1,493,918		11,042,507
Income (loss) from operations	$	1,690,327	$	6,524,449	$	(1,501,944)		6,712,832
Other income (expense), net								(493,965)
Net income								6,218,867
Income attributable to non-controlling interests								294,006
Net income attributable to Consolidated Water Co. Ltd. stockholders							$	5,924,861

Depreciation and amortization expenses for the nine months ended September 30, 2015 for the retail, bulk and services segments were $1,755,123, $2,419,509 and $73,924, respectively.

	As of September 30, 2016
	Retail		Bulk		Services		Total
Accounts receivable, net	$	2,479,251	$	11,704,695	$	915,289	$	15,099,235
Property plant and equipment, net	$	23,844,950	$	26,775,210	$	2,122,784	$	52,742,944
Construction in progress	$	1,545,294	$	257,557	$	7,859	$	1,810,710
Intangibles, net	$	-	$	616,508	$	4,978,052	$	5,594,560
Goodwill	$	1,170,511	$	2,328,526	$	6,285,211	$	9,784,248
Land held for development	$	-	$	-	$	20,558,424	$	20,558,424
Total assets	$	55,710,082	$	68,433,012	$	39,146,429	$	163,289,523

	As of December 31, 2015
	Retail		Bulk		Services		Total
Accounts receivable, net	$	2,261,141	$	6,231,626	$	1,036,249	$	9,529,016
Property plant and equipment, net	$	25,204,226	$	28,421,906	$	117,038	$	53,743,170
Construction in progress	$	1,860,050	$	68,560	$	-	$	1,928,610
Intangibles, net	$	-	$	666,152	$	105,659	$	771,811
Goodwill	$	1,170,511	$	2,328,526	$	-	$	3,499,037
Land held for development	$	-	$	-	$	20,558,424	$	20,558,424
Total assets	$	54,561,577	$	83,284,439	$	23,729,010	$	161,575,026