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Segment Information (Notes)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Segment Information

The Company operates in two reportable segments. The businesses have been 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' work location and provide VMI service and produce sales orders for product that is then shipped to the customer. The Bolt Supply segment primarily sells product to customers through its branch locations. Bolt Supply had 14 branches in operation at the end of the third quarter of 2019.

Financial information for the Company's reportable segments follows:

	(Dollars in thousands)
	Three Months Ended September 30,								Nine Months Ended September 30,
	2019				2018				2019				2018
Revenue
Lawson product revenue	$	73,122			$	68,539			$	221,027			$	206,108
Lawson service revenue	10,339				10,153				29,868				29,627
Total Lawson revenue	83,461				78,692				250,895				235,735
Bolt Supply	11,318				9,838				31,324				27,636
Consolidated total	$	94,779			$	88,530			$	282,219			$	263,371
Gross profit
Lawson product gross profit	$	40,379			$	37,742			$	122,113			$	113,291
Lawson service gross profit	5,769				6,710				16,411				19,380
Total Lawson gross profit	46,148				44,452				138,524				132,671
Bolt Supply	4,426				3,656				12,016				10,786
Consolidated total	$	50,574			$	48,108			$	150,540			$	143,457
Operating income
Lawson	$	5,377			$	(2,754	)		$	11,490			$	3,530
Bolt Supply	1,069				488				2,123				1,595
Consolidated total	6,446				(2,266		)		13,613				5,125
Interest expense	(138		)		(251		)		(481		)		(755		)
Other income (expense), net	(13		)		170				798				(320		)
Income (loss) before income taxes	$	6,295			$	(2,347	)		$	13,930			$	4,050

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- References

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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