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Segment Information

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Segment Reporting

Information

With the acquisition of Bolt in 2017, the Company now operates in two reportable segments. The businesses were determined to be separate reportable segments because of differences in their financial characteristics and the methods they employ to deliver product to customers. The operating segments are reviewed by the Company’s chief operating decision maker responsible for reviewing operating performance and allocating resources. The Lawson segment primarily relies on its large network of sales representatives to visit the customer at the customers' location and produce sales orders for product that is then shipped to the customer and also provides VMI services. The Bolt segment primarily sells product to customers when the customers visit one of Bolt's 14 branch locations and the product is delivered to the customers at the point of sale. The Bolt segment total assets includes the value of the acquired intangibles and the related amortization within its operating income.

Financial information for the Company's reportable segments follows:

	(Dollars in thousands)
	Year Ended December 31,
	2018				2017
Net sales
Lawson	$	313,095			$	297,953
Bolt	36,542				7,954
Consolidated total	$	349,637			$	305,907
Gross profit
Lawson	$	175,517			$	179,578
Bolt	14,023				3,440
Consolidated total	$	189,540			$	183,018
Operating Income
Lawson	$	7,500			$	4,164
Bolt	1,710				350
Gain on sale of property	—				5,422
Consolidated total	9,210				9,936
Interest expense	(1,009		)		(622		)
Other income (expense), net	(1,338		)		780
Income before income taxes	$	6,863			$	10,094
Capital expenditures
Lawson	$	1,907			$	1,251
Bolt	617				5
Consolidated total	$	2,524			$	1,256
Depreciation and amortization
Lawson	$	6,008			$	6,280
Bolt	847				490
Consolidated total	$	6,855			$	6,770
Total assets
Lawson	$	169,216			$	161,520
Bolt	36,067				38,423
Intercompany note receivable	(8,141		)		(8,832		)
Consolidated total	$	197,142			$	191,111

Financial information related to the Company’s continuing operations by geographic area follows:

	(Dollars in Thousands)
	Year Ended December 31,
	2018				2017
Net sales (1)
United States	$	279,917			$	266,994
Canada	69,720				38,913
Consolidated total	$	349,637			$	305,907
Long-lived assets (2)
United States	$	25,539			$	24,686
Canada	31,507				34,322
Consolidated total	$	57,046			$	59,008

(1)    Net sales are attributed to countries based on the location of customers.

(2)    Long-lived assets primarily consist of property, plant and equipment, goodwill, intangibles and other assets.

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- References

No definition available.

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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