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Operating Segment Information
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Operating Segment Information

17.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 income (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,

2020

2019

2018

Net Sales

Firearms

$

565,863

$

406,326

$

490,607

Castings

Unaffiliated

3,005

4,180

5,028

Intersegment

22,254

18,425

22,946

25,259

22,605

27,974

Eliminations

(22,254

)

(18,425

)

(22,946

)

$

568,868

$

410,506

$

495,635

Income (Loss) Before Income Taxes

Firearms

$

120,732

$

40,814

$

70,311

Castings

(1,000

)

(797

)

(2,240

)

Corporate

1,249

3,010

643

$

120,981

$

43,027

$

68,714

Identifiable Assets

Firearms

$

174,500

$

163,792

$

166,975

Castings

11,959

11,332

10,850

Corporate

161,799

173,837

157,707

$

348,258

$

348,961

$

335,532

Depreciation

Firearms

$

25,126

$

27,149

$

29,542

Castings

2,158

1,875

2,083

$

27,284

$

29,024

$

31,625

Capital Expenditures

Firearms

$

19,253

$

19,570

$

9,689

Castings

4,976

726

852

$

24,229

$

20,296

$

10,541

In 2020, the Company’s largest customers and the percent of firearms sales they represented were as follows: Sports South - 22%; Lipsey’s - 22%; and Davidson’s - 18%.

In 2019, the Company’s largest customers and the percent of firearms sales they represented were as follows: Lipsey’s - 26%; Sports South - 22%; and Davidson’s - 15%.

68

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%.

The Company’s assets are located entirely in the United States and domestic sales represented at least 95% of total sales in 2020, 2019, and 2018.