XML 87 R21.htm IDEA: XBRL DOCUMENT v2.4.1.9
Operating Segment Information
 12 Months Ended
Dec. 31, 2014
Operating Segment Information [Abstract]  
Operating Segment Information
  14. Operating Segment Information

 

The Company has two reportable operating segments: firearms and castings. The firearms segment manufactures and sells rifles, pistols, revolvers, and shotguns principally to a number of federally-licensed, independent wholesale distributors primarily located in the United States. The castings segment manufactures and sells steel investment castings and metal injection molding parts.

 

Corporate segment income relates to interest income on short-term investments, the sale of non-operating assets, and other non-operating activities. Corporate segment assets consist of cash and short-term investments and other non-operating assets.

 

The Company evaluates performance and allocates resources, in part, based on profit and loss before taxes. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies (see Note 1). Intersegment sales are recorded at the Company's cost plus a fixed profit percentage.

 

Year ended December 31, 2014     2013     2012  
Net Sales                        
Firearms   $ 542,267     $ 678,552     $ 484,933  
Castings                        
Unaffiliated     2,207       9,724       6,891  
Intersegment     34,095       32,794       26,462  
      36,302       42,518       33,353  
Eliminations     (34,095 )     (32,794 )     (26,462 )
    $ 544,474     $ 688,276     $ 491,824  
Income (Loss) Before Income Taxes                        
Firearms   $ 57,525     $ 177,736     $ 113,660  
Castings     (1,294 )     (3,866 )     (1,858 )
Corporate     1,009       1,362       307  
    $ 57,240     $ 175,232     $ 112,109  
Identifiable Assets                        
Firearms   $ 211,338     $ 201,660     $ 120,879  
Castings     16,772       11,402       6,467  
Corporate     26,272       64,056       47,140  
    $ 254,382     $ 277,118     $ 174,486  
Depreciation                        
Firearms   $ 33,594     $ 18,679     $ 13,413  
Castings     2,321       897       823  
    $ 35,915     $ 19,576     $ 14,236  
Capital Expenditures                        
Firearms   $ 39,511     $ 51,536     $ 26,773  
Castings     6,060       3,080       509  
    $ 45,571     $ 54,616     $ 27,282  

 

In 2014, the Company's largest customers and the percent of total sales they represented were as follows: Davidson's-19%; Lipsey's-13%; Sports South-13%; and Jerry's/Ellett Brothers-12%.

 

In 2013, the Company's largest customers and the percent of total sales they represented were as follows: Davidson's-16%; Jerry's/Ellett Brothers-14%; Lipsey's-14%; and Sports South-11%.

 

In 2012, the Company's largest customers and the percent of total sales they represented were as follows: Davidson's-17%; Jerry's/Ellett Brothers-14%; Lipsey's-13%; and Sports South-12%.

 

The Company's assets are located entirely in the United States and domestic sales represented greater than 94% of total sales in 2014, 2013, and 2012.