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Operating Segment Information | 12 Months Ended
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Dec. 31, 2024
Operating Segment Information [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. This segment structure reflects the financial information and reports used by the Company’s management, specifically its CODM, to make decisions regarding the Company’s business, including resource allocations and performance assessments, as well as the current operating focus in compliance with ASC 280, Segment Reporting. The Company’s reportable segments are not aggregated. The Company’s method for measuring performance of a reportable segment is primarily gross profit. The CODM does not review disaggregated assets by segment. The Company adopted ASU 2023-07 in January 2025. The most significant provision was the required disclosure of significant segment expenses that are regularly provided to the CODM. The Company’s CODM periodically reviews cost of goods sold by segment and treats it as a significant segment expense.
Year ended December 31, |  | 2024 |  |  | 2023 |  |  | 2022 |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |
Firearms |  | $ | 532,608 |  |  | $ | 540,746 |  |  | $ | 593,289 |
Castings |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated |  |  | 3,035 |  |  |  | 3,021 |  |  |  | 2,553 |
Intersegment |  |  | 31,528 |  |  |  | 33,086 |  |  |  | 21,306 |
|  |  | 34,563 |  |  |  | 36,107 |  |  |  | 23,859 |
Eliminations |  |  | (31,528 | ) |  |  | (33,086 | ) |  |  | (21,306 | )
|  | $ | 535,643 |  |  | $ | 543,767 |  |  | $ | 595,842 |
Costs of Goods Sold |  |  |  |  |  |  |  |  |  |  |  |
Firearms |  | $ | 417,222 |  |  | $ | 407,068 |  |  | $ | 410,507 |
Castings |  |  |  |  |  |  |  |  |  |  |  |
Unaffiliated |  |  | 4,006 |  |  |  | 3,080 |  |  |  | 5,250 |
Intersegment |  |  | 31,528 |  |  |  | 33,086 |  |  |  | 21,306 |
|  |  | 35,534 |  |  |  | 36,166 |  |  |  | 26,556 |
Eliminations |  |  | (31,528 | ) |  |  | (33,086 | ) |  |  | (21,306 | )
|  | $ | 421,228 |  |  | $ | 410,148 |  |  | $ | 415,757 |
Gross Profit (Loss) |  |  |  |  |  |  |  |  |  |  |  |
Firearms |  | $ | 115,386 |  |  | $ | 133,678 |  |  | $ | 182,782 |
Castings |  |  | (971 | ) |  |  | (59 | ) |  |  | (2,697 | )
|  | $ | 114,415 |  |  | $ | 133,619 |  |  | $ | 180,085 |
Operating Income (Loss) |  |  |  |  |  |  |  |  |  |  |  |
Firearms |  | $ | 33,273 |  |  | $ | 52,887 |  |  | $ | 106,803 |
Castings |  |  | (1,619 | ) |  |  | (803 | ) |  |  | (3,347 | )
|  | $ | 31,654 |  |  | $ | 52,084 |  |  | $ | 103,456 |
Income (Loss) Before Income Taxes |  |  |  |  |  |  |  |  |  |  |  |
Firearms |  | $ | 34,051 |  |  | $ | 53,723 |  |  | $ | 108,609 |
Castings |  |  | (1,616 | ) |  |  | (799 | ) |  |  | (3,338 | )
Corporate |  |  | 5,340 |  |  |  | 5,900 |  |  |  | 3,008 |
|  | $ | 37,775 |  |  | $ | 58,824 |  |  | $ | 108,279 |
Year ended December 31, |  | 2024 |  |  | 2023 |  |  | 2022 |
Identifiable Assets |  |  |  |  |  |  |  |  |  |  |  |
Firearms |  | $ | 230,024 |  |  | $ | 228,699 |  |  | $ | 223,301 |
Castings |  |  | 9,303 |  |  |  | 11,144 |  |  |  | 11,910 |
Corporate |  |  | 144,707 |  |  |  | 158,974 |  |  |  | 249,552 |
|  | $ | 384,034 |  |  | $ | 398,817 |  |  | $ | 484,763 |
Goodwill |  |  |  |  |  |  |  |  |  |  |  |
Firearms |  | $ | 3,055 |  |  | $ | 3,055 |  |  | $ | 3,055 |
Castings |  |  | 209 |  |  |  | 209 |  |  |  | 209 |
|  | $ | 3,264 |  |  | $ | 3,264 |  |  | $ | 3,264 |
Depreciation |  |  |  |  |  |  |  |  |  |  |  |
Firearms |  | $ | 19,952 |  |  | $ | 19,301 |  |  | $ | 21,992 |
Castings |  |  | 1,154 |  |  |  | 1,814 |  |  |  | 2,452 |
|  | $ | 21,106 |  |  | $ | 21,115 |  |  | $ | 24,444 |
Capital Expenditures |  |  |  |  |  |  |  |  |  |  |  |
Firearms |  | $ | 20,488 |  |  | $ | 15,395 |  |  | $ | 26,598 |
Castings |  |  | 333 |  |  |  | 401 |  |  |  | 1,175 |
|  | $ | 20,821 |  |  | $ | 15,796 |  |  | $ | 27,773 |
In 2024, the Company’s largest customers and the percent of firearms sales they represented were as follows: Lipsey’s - 28%; Sports South - 18%; and Davidson’s - 16%. In 2023, the Company’s largest customers and the percent of firearms sales they represented were as follows: Lipsey’s - 24%; Davidson’s - 19%; and Sports South -15%. In 2022, the Company’s largest customers and the percent of firearms sales they represented were as follows: Lipsey’s - 23%; Davidson’s - 23%; and Sports South - 21%. The Company’s assets are located entirely in the United States and domestic sales represented at least 94% of total sales in 2024, 2023, and 2022.

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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