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Operating Segment Information

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Operating Segment Information

15. Operating Segment Information

The Company has two reportable operating segments: firearms and castings. The firearms segment manufactures and sells rifles, pistols, and revolvers 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, the sale of non-operating assets, and other non-operating activities. Corporate segment assets consist of cash 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,		2018				2017				2016
Net Sales
Firearms		$	490,607			$	517,701			$	658,433
Castings
Unaffiliated			5,028				4,555				5,895
Intersegment			22,946				24,436				36,779
			27,974				28,991				42,674
Eliminations			(22,946	)			(24,436	)			(36,779	)
		$	495,635			$	522,256			$	664,328
Income (Loss) Before Income Taxes
Firearms		$	70,311			$	77,368			$	136,390
Castings			(2,240	)			(53	)			(1,237	)
Corporate			643				331				768
		$	68,714			$	77,646			$	135,921
Identifiable Assets
Firearms		$	166,975			$	206,091			$	242,758
Castings			10,850				12,524				16,096
Corporate			157,707				65,703				88,025
		$	335,532			$	284,318			$	346,879
Depreciation
Firearms		$	29,542			$	31,701			$	32,010
Castings			2,083				2,118				2,688
		$	31,625			$	33,819			$	34,698
Capital Expenditures
Firearms		$	9,689			$	32,710			$	33,455
Castings			852				886				1,760
		$	10,541			$	33,596			$	35,215

In 2018, the Company’s largest customers and the percent of firearms sales they represented were as follows: Davidson’s-21%; Lipsey’s-20%; and Sports South-16%.

In 2017, the Company’s largest customers and the percent of firearms sales they represented were as follows: Davidson’s-21%; Lipsey’s-18%; Sports South-13%; and Jerry’s/Ellett Brothers-12%.

In 2016, the Company’s largest customers and the percent of firearms sales they represented were as follows: Davidson’s-19%; Lipsey’s-17%; Jerry’s/Ellett Brothers-15%; and Sports South-14%.

The Company’s assets are located entirely in the United States and domestic sales represented at least 96% of total sales in 2017, 2016, and 2015.

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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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