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Note 18 - Segment Reporting | 12 Months Ended
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Dec. 31, 2021
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | Note 18 – Segment Reporting The Company’s reportable segments are based on the internal reporting used by the Company’s CEO, who is the chief operating decision maker (CODM), to assess operating performance and make decisions about the allocation of resources. The Company’s reportable segments are based upon geographic region, consisting of the United States and Europe. The Corporate Unallocated and Japan category includes non-reportable segments, as well as research and development and general and administrative costs that are global in nature and that the Company does not allocate directly to its operating segments. Revenue in the United States is derived from Injection Molding, CNC Machining, 3D Printing and Sheet Metal product lines. Revenue in Europe is derived from Injection Molding, CNC Machining, and 3D Printing product lines. Revenue in Japan is derived from Injection Molding and CNC Machining product lines. Injection Molding revenue consists of sales of custom injection molds and injection-molded parts. CNC Machining revenue consists of sales of CNC-machined and lathe-turned customer parts. 3D Printing revenue consists of sales of 3D-printed parts. Sheet Metal revenue consists of sales of fabricated sheet metal parts. The accounting policies of the reportable segments are the same as those described in Note 2 – Summary of Significant Accounting Policies. Intercompany transactions primarily relate to intercontinental activity and have been eliminated and are excluded from the reported amounts. The difference between income from operations and pre-tax income relates to foreign currency-related gains and losses and interest income on cash balances and investments, which are not allocated to business segments. Beginning in 2020, the Company's CODM made a decision to view certain research and development costs by geographic region. As a result, costs previously included in the Corporate Unallocated and Japan category have been included in the respective geographic regions. All periods presented have been restated to reflect this change. Revenue and income from operations by reportable segment are as follows:
|  | Year Ended December 31, |
(in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 384,458 |  |  | $ | 345,708 |  |  | $ | 360,205 |
Europe |  |  | 90,399 |  |  |  | 74,796 |  |  |  | 82,805 |
Japan |  |  | 13,241 |  |  |  | 13,891 |  |  |  | 15,718 |
Total revenue |  | $ | 488,098 |  |  | $ | 434,395 |  |  | $ | 458,728 |
|  | Year Ended December 31, |
(in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Income from Operations: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 98,001 |  |  | $ | 98,762 |  |  | $ | 108,594 |
Europe |  |  | 730 |  |  |  | 11,707 |  |  |  | 15,077 |
Corporate Unallocated and Japan |  |  | (58,389 | ) |  |  | (50,633 | ) |  |  | (43,815 | )
Total income from operations |  | $ | 40,342 |  |  | $ | 59,836 |  |  | $ | 79,856 |
Total long-lived assets, expenditures for additions to long-lived assets and depreciation and amortization expense are as follows:
|  | December 31, |  |  | December 31, |  |  | December 31, |
(in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Long-lived assets: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 215,701 |  |  | $ | 215,721 |  |  | $ | 210,171 |
Europe |  |  | 59,388 |  |  |  | 59,388 |  |  |  | 45,019 |
Japan |  |  | 5,257 |  |  |  | 7,557 |  |  |  | 8,522 |
Total long-lived assets |  | $ | 280,346 |  |  | $ | 282,666 |  |  | $ | 263,712 |
|  | Year Ended December 31, |
(in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Expenditures for additions to long-lived assets: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 26,698 |  |  | $ | 29,984 |  |  | $ | 45,123 |
Europe |  |  | 7,378 |  |  |  | 16,574 |  |  |  | 14,743 |
Japan |  |  | 133 |  |  |  | 452 |  |  |  | 2,364 |
Total expenditures for additions to long-lived assets |  | $ | 34,209 |  |  | $ | 47,010 |  |  | $ | 62,230 |
|  | Year Ended December 31, |
(in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Depreciation and Amortization: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 31,642 |  |  | $ | 25,744 |  |  | $ | 24,767 |
Europe |  |  | 7,101 |  |  |  | 5,024 |  |  |  | 4,746 |
Japan |  |  | 1,745 |  |  |  | 1,826 |  |  |  | 1,351 |
Total depreciation and amortization |  | $ | 40,488 |  |  | $ | 32,594 |  |  | $ | 30,864 |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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