XML 72 R27.htm IDEA: XBRL DOCUMENT v3.22.0.1
Segment Information
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company's operating segments, Lawson and Bolt, also represent its reportable segments because of differences in the businesses' financial characteristics and the methods they employ to deliver product to customers. The results of the Company's 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 include 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,
20212020
Net sales
   Lawson$371,668 $312,803 
   Bolt46,065 38,788 
      Consolidated total$417,733 $351,591 
Gross profit
Lawson
$200,475 $171,258 
Bolt
18,760 15,280 
Consolidated total
$219,235 $186,538 
Operating Income
   Lawson$8,193 $17,715 
   Bolt3,794 2,835 
      Consolidated total11,987 20,550 
Interest expense(869)(654)
Other income, net801 889 
Income before income taxes$11,919 $20,785 
Capital expenditures
   Lawson$7,460 $1,529 
   Bolt733 158 
      Consolidated total$8,193 $1,687 
Depreciation and amortization
   Lawson$6,736 $5,343 
   Bolt1,605 1,358 
      Consolidated total$8,341 $6,701 
Total assets
   Lawson$217,856 $221,490 
   Bolt47,085 43,533 
Investment in Subsidiary
(8,784)(8,719)
      Consolidated total$256,157 $256,304 
Financial information related to the Company’s operations by geographic area follows:
(Dollars in Thousands)
Year Ended December 31,
20212020
Net sales (1)
United States
$337,981 $283,261 
Canada
79,752 68,330 
Consolidated total
$417,733 $351,591 
Long-lived assets (2)
United States
$50,491 $44,395 
Canada
34,206 34,180 
Consolidated total
$84,697 $78,575 

(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, right of use assets and other assets.