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Segment information (Tables)
12 Months Ended
Dec. 31, 2021
Segment information  
Schedule of segment reporting information, by segment

 

Year Ended December 31, 2021

 

Retail

    

Bulk

    

Services

    

Manufacturing

    

Total

Revenue

$

22,104,953

$

26,800,869

$

13,884,857

$

4,072,823

    

$

66,863,502

Cost of revenue

 

11,060,937

 

17,759,272

 

10,707,243

 

3,828,859

 

43,356,311

Gross profit

 

11,044,016

 

9,041,597

 

3,177,614

 

243,964

 

23,507,191

General and administrative expenses

 

12,841,259

 

1,365,735

 

2,762,735

 

1,380,630

 

18,350,359

Gain (loss) on asset dispositions and impairments, net

 

(246,851)

 

1,500

 

(485)

 

(2,900,000)

 

(3,145,836)

Income (loss) from operations

$

(2,044,094)

$

7,677,362

$

414,394

$

(4,036,666)

 

2,010,996

Other income, net

 

  

 

  

 

 

  

1,623,595

Income before income taxes

 

  

 

  

 

  

 

  

 

3,634,591

Benefit from income taxes

 

  

 

  

 

  

 

  

 

(447,982)

Net income from continuing operations

 

  

 

  

 

  

 

  

 

4,082,573

Income from continuing operations attributable to non-controlling interests

 

  

 

  

 

  

 

  

 

632,915

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

 

  

 

  

 

  

 

  

 

3,449,658

Net loss from discontinued operations

 

  

 

  

 

  

 

  

 

(2,574,079)

Net income attributable to Consolidated Water Co. Ltd. stockholders

 

  

 

  

 

  

 

  

$

875,579

Depreciation and amortization expenses for the year ended December 31, 2021 for the retail, bulk, services and manufacturing segments were $2,517,407, $3,331,554, $782,882 and $289,390, respectively.

 

As of December 31, 2021

 

Retail

    

Bulk

    

Services

    

Manufacturing

    

Total

Accounts receivable, net

$

2,601,619

$

21,682,951

$

1,698,797

$

1,365,940

$

27,349,307

Inventory, current and non-current

$

2,787,277

$

3,860,808

$

$

589,757

$

7,237,842

Property, plant and equipment, net

$

26,357,390

$

24,476,936

$

512,493

$

1,599,720

$

52,946,539

Construction in progress

$

617,334

$

31,737

$

$

61,792

$

710,863

Intangibles, net

$

$

$

2,553,888

$

847,778

$

3,401,666

Goodwill

$

1,170,511

$

1,948,875

$

5,320,416

$

1,985,211

$

10,425,013

Total segment assets

$

61,736,441

$

68,723,405

$

16,049,001

$

8,198,280

$

154,707,127

Assets of discontinued operations

$

22,319,927

Total assets

$

177,027,054

 

Year Ended December 31, 2020

 

Retail

    

Bulk

    

Services

    

Manufacturing

    

Total

Revenue

$

22,952,370

$

24,312,546

$

12,937,859

$

12,425,351

$

72,628,126

Cost of revenue

 

11,080,814

 

16,959,563

 

9,698,214

 

8,121,080

 

45,859,671

Gross profit

 

11,871,556

 

7,352,983

 

3,239,645

 

4,304,271

 

26,768,455

General and administrative expenses

 

12,879,445

 

1,260,062

 

2,834,917

 

1,460,474

 

18,434,898

Gain on asset dispositions and impairments, net

 

2,965

 

7,213

 

3,801

 

18

 

13,997

Income (loss) from operations

$

(1,004,924)

$

6,100,134

$

408,529

$

2,843,815

 

8,347,554

Other income, net

 

  

 

  

 

  

 

  

 

1,082,946

Income before income taxes

 

  

 

  

 

  

 

  

 

9,430,500

Provision for income taxes

86,724

Net income from continuing operations

 

  

 

  

 

  

 

  

 

9,343,776

Income from continuing operations attributable to non-controlling interests

 

  

 

  

 

  

 

  

 

730,005

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

 

  

 

  

 

  

 

  

 

8,613,771

Net loss from discontinued operations

 

  

 

  

 

  

 

  

 

(4,902,243)

Net income attributable to Consolidated Water Co. Ltd. stockholders

 

  

 

  

 

  

 

  

$

3,711,528

Depreciation and amortization expenses for the year ended December 31, 2020 for the retail, bulk, services and manufacturing segments were $2,388,781, $3,869,377, $762,182 and $386,169, respectively.

 

As of December 31, 2020

 

Retail

    

Bulk

    

Services

    

Manufacturing

    

Total

Accounts receivable, net

$

2,444,455

$

17,022,813

$

1,420,609

$

596,099

$

21,483,976

Inventory, current and non-current

$

2,787,163

$

3,795,544

$

$

1,138,313

$

7,721,020

Property, plant and equipment, net

$

27,947,545

$

27,611,567

$

487,973

$

1,640,899

$

57,687,984

Construction in progress

$

305,110

$

31,737

$

$

103,537

$

440,384

Intangibles, net

$

$

$

3,200,555

$

947,778

$

4,148,333

Goodwill

$

1,170,511

$

1,948,875

$

5,320,416

$

4,885,211

$

13,325,013

Total segment assets

$

56,425,159

$

74,771,798

$

14,470,322

$

11,210,685

$

156,877,964

Assets of discontinued operations

 

 

 

 

$

22,677,588

Total assets

 

 

 

 

$

179,555,552

Schedule of revenues earned by major geographic region

Year ended December 31, 

    

2021

    

2020

Cayman Islands

$

24,935,746

$

25,640,169

Bahamas

 

24,031,547

 

21,654,153

United States

 

17,489,851

 

24,918,527

Revenues earned from management services agreement with OC-BVI

 

406,358

 

415,277

$

66,863,502

$

72,628,126

Revenues earned from major customers were:

Year ended December 31, 

    

2021

    

2020

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

$

24,031,547

$

21,527,487

Percentage of consolidated revenue earned from the WSC

 

36%

 

30%

Revenue earned from one manufacturing segment customer

$

406,073

$

9,965,041

Percentage of consolidated revenue earned from the one manufacturing segment customer

 

1%

 

14%

Schedule of long-lived assets by geographic areas

December 31, 

    

2021

    

2020

Cayman Islands

$

26,687,944

$

28,474,748

The Bahamas

 

24,004,707

 

26,975,427

United States

 

2,253,888

 

2,237,809

$

52,946,539

$

57,687,984