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Subsequent Events | 12 Months Ended
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Dec. 31, 2019
Subsequent Events [Abstract] |
Subsequent Events |
NOTE 12. | SUBSEQUENT EVENTS
The Company expects China trade, and hence its operations, to be affected by the recent outbreak of Novel Coronavirus (COVID-19) that began in China and was declared by the World Health Organization as a global health emergency. As precautionary measures, the government in China extended the Lunar New Year Holiday into February 2020 and has implemented travel restrictions and closures of certain central China ports and government offices. Additionally, factories have experienced extended closures and certain airlines are cancelling flights to and from China. As a result, certain of the Company’s central China offices have experienced closures and limited operations and shipments are being rerouted or delayed by customers and service providers, who are taking their own precautionary measures. Also, available airfreight capacity could be reduced affecting the ability to efficiently route customers’ freight. Any such conditions of operations, for an extended period of time would result in a reduction in shipments that could negatively affect the Company’s results of operations in 2020. In addition to traditional supply chain movements, the Company also believes this may have a further impact to global supply chains through potential shortages of raw materials, parts and supplies. For the years ended December 31, 2019, 2018 and 2017, the People’s Republic of China, including Hong Kong, represented 26%, 29% and 31%, respectively, of the Company’s total revenues and 27%, 30% and 30%, respectively, of the Company’s total operating income.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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