SEGMENTS |
SEGMENTS As described in Note 1, we conduct our operations through three reportable segments: •Contractor Solutions •Specialized Reliability Solutions and •Engineered Building Solutions
The following is a summary of the financial information of our reporting segments reconciled to the amounts reported in the consolidated financial statements (in thousands).
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended March 31, 2024 | | | | | | | | | (in thousands) | | Contractor Solutions | | Specialized Reliability Solutions | | Engineered Building Solutions | | Subtotal - Reportable Segments | | Eliminations and Other | | Total | Revenues, net to external customers | | $ | 528,641 | | | $ | 149,458 | | | $ | 114,741 | | | $ | 792,840 | | | $ | — | | | $ | 792,840 | | Intersegment revenue | | 7,853 | | | 155 | | | — | | | 8,008 | | | (8,008) | | | — | | Operating income | | 142,037 | | | 22,266 | | | 18,704 | | | 183,007 | | | (23,889) | | | 159,118 | | Depreciation and amortization | | 30,231 | | | 6,074 | | | 1,812 | | | 38,117 | | | 173 | | | 38,290 | |
In the fiscal quarter ended March 31, 2024, we recorded a $1.5 million impairment relating to a trademark, included in selling, general and administrative expenses, for our Contractor Solutions segment.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended March 31, 2023 | | | | | | | | | (in thousands) | | Contractor Solutions | | Specialized Reliability Solutions | | Engineered Building Solutions | | Subtotal - Reportable Segments | | Eliminations and Other | | Total | Revenues, net to external customers | | $ | 506,634 | | | $ | 147,301 | | | $ | 103,969 | | | $ | 757,904 | | | $ | — | | | $ | 757,904 | | Intersegment revenue | | 7,142 | | | 145 | | | — | | | 7,287 | | | (7,287) | | | — | | Operating income | | 126,204 | | | 20,176 | | | 12,889 | | | 159,269 | | | (20,203) | | | 139,066 | | Depreciation and amortization | | 26,951 | | | 6,035 | | | 1,771 | | | 34,757 | | | 200 | | | 34,957 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended March 31, 2022 | | | | | | | | | | | (in thousands) | | Contractor Solutions | | Specialized Reliability Solutions | | Engineered Building Solutions | | Subtotal - Reportable Segments | | Eliminations and Other | | Total | Revenues, net to external customers | | $ | 413,207 | | | $ | 115,932 | | | $ | 97,296 | | | $ | 626,435 | | | $ | — | | | $ | 626,435 | | Intersegment revenue | | 3,280 | | | 110 | | | — | | | 3,390 | | | (3,390) | | | — | | Operating income | | 96,115 | | | 9,007 | | | 11,101 | | | 116,223 | | | (18,843) | | | 97,380 | | Depreciation and amortization | | 27,879 | | | 6,016 | | | 2,063 | | | 35,958 | | | 450 | | | 36,408 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | TOTAL ASSETS | | | | | | | | | | | | | (Amounts in thousands) | | Contractor Solutions | | Specialized Reliability Solutions | | Engineered Building Solutions | | Subtotal - Reportable Segments | | Eliminations and Other | | Total | March 31, 2024 | | $ | 806,261 | | | $ | 139,968 | | | $ | 81,256 | | | $ | 1,027,485 | | | $ | 15,841 | | | $ | 1,043,326 | | March 31, 2023 | | 823,750 | | | 136,248 | | | 71,429 | | | 1,031,427 | | | 12,026 | | | 1,043,453 | | March 31, 2022 | | 782,267 | | | 126,380 | | | 74,397 | | | 983,044 | | | 12,316 | | | 995,360 | |
Geographic information – We attribute revenues to different geographic areas based on the destination of the product or service delivery. Long-lived assets are classified based on the geographic area in which the assets are located and exclude deferred taxes. No individual country, except for the U.S., accounted for more than 10% of consolidated net revenues or total long-lived assets.
Revenues and long-lived assets by geographic area are as follows (in thousands, except percent data):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended March 31, | | | 2024 | | | | 2023 | | | | 2022 | | | U.S. | | $ | 703,282 | | | 88.7 | % | | $ | 678,126 | | | 89.5 | % | | $ | 559,296 | | | 89.3 | % | Non-U.S. (a) | | 89,558 | | | 11.3 | % | | 79,778 | | | 10.5 | % | | 67,139 | | | 10.7 | % | Revenues, net | | $ | 792,840 | | | 100.0 | % | | $ | 757,904 | | | 100.0 | % | | $ | 626,435 | | | 100.0 | % |
(a) No individual country within this group represents 10% or more of consolidated totals for any period presented.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended March 31, | | | 2024 | | | | 2023 | | | | 2022 | | | U.S. | | $ | 672,887 | | | 94.5 | % | | $ | 679,731 | | | 94.4 | % | | $ | 651,477 | | | 93.7 | % | Non-U.S. | | 39,030 | | | 5.5 | % | | 40,665 | | | 5.6 | % | | 43,736 | | | 6.3 | % | Long-lived assets (a) | | $ | 711,917 | | | 100.0 | % | | $ | 720,396 | | | 100.0 | % | | $ | 695,213 | | | 100.0 | % |
(a) Long-lived assets consist primarily of property, plant and equipment, intangible assets, goodwill and other assets.
Major customer information – We have a large number of customers across our locations and we do not have sales to any individual customer that represented 10% or more of consolidated net revenues for any of the fiscal years presented.
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