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Segment Information | 9 Months Ended
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Jan. 31, 2016
Segment Reporting [Abstract] |
Segment Information | (11) Segment Information: The firearms segment consists of products and services manufactured in and sold from our Springfield, Massachusetts; Houlton, Maine; and Deep River, Connecticut facilities, which includes firearms, handcuffs, and other related products sold through a distribution chain and direct sales to consumers and international, state, and federal governments. The accessories segment consists of hunting and shooting accessories developed and marketed from our Columbia, Missouri facility. Operating costs are reported based on the activities performed within each segment. Segment assets are those directly used in or clearly allocable to an operating segment’s operations. Total assets for our firearms segment as of January 31, 2016 were $429.9 million. Included in the assets of our firearms segment were intangible assets totaling $3.1 million; property, plant, and equipment totaling $133.7 million; and goodwill totaling $13.8 million. Total assets for our accessories segment as of January 31, 2016 were $147.2 million. Included in the assets of the accessories segment were intangible assets totaling $61.9 million; property, plant, and equipment totaling $2.5 million; and goodwill totaling $62.4 million. Results by business segment are presented in the following tables for the three months ended January 31, 2016 and 2015 (in thousands):
|  | For the Three Months Ended January 31, 2016 (a) |
|  | Firearms |  |  |  | Accessories |  |  |  | Intersegment eliminations |  |  |  | Total |
Revenue from external customers |  | $ | 194,650 |  |  |  | $ | 16,136 |  |  |  | $ — |  |  |  | $ | 210,786 |
Intersegment revenue |  |  | 795 |  |  |  |  | 66 |  |  |  |  | (861 | ) |  |  |  | — |
Total net sales |  |  | 195,445 |  |  |  |  | 16,202 |  |  |  |  | (861 | ) |  |  |  | 210,786 |
Cost of sales |  |  | 117,284 |  |  |  |  | 7,767 |  |  |  |  | (923 | ) |  |  |  | 124,128 |
Gross margin |  |  | 78,160 |  |  |  |  | 8,436 |  |  |  |  | 62 |  |  |  |  | 86,658 |
Operating income |  |  | 49,137 |  |  |  |  | 949 |  | (b) |  |  | 62 |  |  |  |  | 50,148 |
Income tax expense |  |  | 16,427 |  |  |  |  | 203 |  |  |  |  | — |  |  |  |  | 16,630 |
|  | For the Three Months Ended January 31, 2015 (c) |
|  | Firearms |  |  |  | Accessories |  |  |  | Intersegment eliminations |  |  |  | Total |
Revenue from external customers |  | $ | 124,490 |  |  |  | $ | 6,060 |  |  |  | $ — |  |  |  | $ | 130,550 |
Intersegment revenue |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Total net sales |  |  | 124,490 |  |  |  |  | 6,060 |  |  |  |  | — |  |  |  |  | 130,550 |
Cost of sales |  |  | 81,958 |  |  |  |  | 4,768 |  | (d) |  |  | — |  |  |  |  | 86,726 |
Gross margin |  |  | 42,532 |  |  |  |  | 1,292 |  | (d) |  |  | — |  |  |  |  | 43,824 |
Operating income |  |  | 17,571 |  |  |  |  | (1,960 | ) | (e) |  |  | — |  |  |  |  | 15,611 |
Income tax expense |  |  | 5,280 |  |  |  |  | (726 | ) |  |  |  | — |  |  |  |  | 4,554 |
Results by business segment are presented in the following tables for the nine months ended January 31, 2016 and 2015 (in thousands):
|  | For the Nine Months Ended January 31, 2016 (a) |
|  | Firearms |  |  |  | Accessories |  |  |  | Intersegment eliminations |  |  |  | Total |
Revenue from external customers |  | $ | 453,961 |  |  |  | $ | 47,830 |  |  |  | $ — |  |  |  | $ | 501,791 |
Intersegment revenue |  |  | 795 |  |  |  |  | 709 |  |  |  |  | (1,504 | ) |  |  |  | — |
Total net sales |  |  | 454,756 |  |  |  |  | 48,539 |  |  |  |  | (1,504 | ) |  |  |  | 501,791 |
Cost of sales |  |  | 278,147 |  |  |  |  | 23,405 |  |  |  |  | (1,504 | ) |  |  |  | 300,048 |
Gross margin |  |  | 177,174 |  |  |  |  | 24,569 |  |  |  |  | — |  |  |  |  | 201,743 |
Operating income |  |  | 99,104 |  |  |  |  | 2,643 |  | (b) |  |  | — |  |  |  |  | 101,747 |
Income tax expense |  |  | 31,110 |  |  |  |  | 734 |  |  |  |  | — |  |  |  |  | 31,844 |
|  | For the Nine Months Ended January 31, 2015 (c) |
|  | Firearms |  |  |  | Accessories |  |  |  | Intersegment eliminations |  |  |  | Total |
Revenue from external customers |  | $ | 364,805 |  |  |  | $ | 6,060 |  |  |  | $ — |  |  |  | $ | 370,865 |
Intersegment revenue |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Total net sales |  |  | 364,805 |  |  |  |  | 6,060 |  |  |  |  | — |  |  |  |  | 370,865 |
Cost of sales |  |  | 238,315 |  |  |  |  | 4,768 |  | (d) |  |  | — |  |  |  |  | 243,083 |
Gross margin |  |  | 126,490 |  |  |  |  | 1,292 |  | (d) |  |  | — |  |  |  |  | 127,782 |
Operating income |  |  | 54,018 |  |  |  |  | (1,960 | ) | (e) |  |  | — |  |  |  |  | 52,058 |
Income tax expense |  |  | 17,252 |  |  |  |  | (726 | ) |  |  |  | — |  |  |  |  | 16,526 |
_______________
| (a) | We allocate all of corporate overhead expenses, such as general and administrative expenses and other corporate-level expenses, to both our firearm and accessories segments.
| (b) | Amount includes $2.6 million and $7.2 million for the three and nine months ended January 31, 2016, respectively, of amortization of intangible assets identified as a result of the BTI Acquisition.
| (c) | Results of operations for the three and nine months ended January 31, 2015 include activity for the period subsequent to the BTI Acquisition. Due to the timing of the BTI Acquisition, the segment data above includes all corporate overhead expenses in our firearms segment.
| (d) | Amount includes $1.8 million of additional cost of goods sold from the fair value step-up in inventory at the date of the BTI Acquisition.
| (e) | Amount includes $1.3 million for the three and nine months ended January 31, 2015, of amortization of intangible assets identified as a result of the BTI Acquisition.

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
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