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Segment Information | 12 Months Ended
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Dec. 31, 2024
Segment Information [Abstract] |
Segment Information | 10. Segment Information The Company aligns its businesses into three reportable business segments based on geographical location. This segment structure reflects (i) the manner in which the Chief Operating Decision Maker (“CODM”), who is the Company’s Chief Executive Officer, regularly assesses information for decision-making purposes, including the allocation of resources, and (ii) how the Company operates its businesses, assesses performance, and communicates results and strategy, among other items, to the Board and its stockholders. The Company’s reportable business segments consist of: (1) United States; (2) Canada; and (3) Europe. As described below, the activities of the Company’s Asian operations are closely linked to those of the U.S. operations; accordingly, the Company’s CODM reviews the financial results of both on a consolidated basis, and the results of the Asian operations have been aggregated with the results of the United States operations to form one reportable segment called the “United States segment” or “U.S. segment”. Each reportable segment derives its revenue from the sales of i) first aid and medical products and ii) cutting and sharpening tools to school, home, office, hardware, sporting and industrial markets. The Company's CODM evaluates the performance of each operating segment based on segment revenues and operating income. Segment revenues are defined as total revenues, excluding inter-segment revenue. Segment operating earnings are defined as segment revenues, less cost of goods sold and operating expenses. Assets are reviewed by the CODM on a consolidated basis and therefore are not presented by reportable business segment. The following table sets forth certain financial data by segment for the years ended December 31, 2024 and 2023: Financial data by segment: (000’s omitted)
For the twelve months ended December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
(amounts in 000's) |  |  |  |  |  |  |  |  |  |  |  |
|  | United States |  |  | Canada |  |  | Europe |  |  | Total |
Net Sales |  | $ | 166,152 |  |  | $ | 13,261 |  |  | $ | 15,077 |  |  | $ | 194,490 |
Less: Segment cost of sales |  |  | 100,092 |  |  |  | 8,294 |  |  |  | 9,753 |  |  |  | 118,139 |
Less: Segment selling, general, and administrative expenses |  |  | 52,815 |  |  |  | 4,269 |  |  |  | 5,127 |  |  |  | 62,211 |
Segment operating income |  | $ | 13,245 |  |  | $ | 698 |  |  | $ | 197 |  |  | $ | 14,140 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (2,083 | )
Interest income |  |  |  |  |  |  |  |  |  |  |  | 141 |
Other income, net |  |  |  |  |  |  |  |  |  |  |  | 95 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 12,293 |
Assets |  |  | 143,538 |  |  |  | 9,677 |  |  |  | 8,956 |  |  |  | 162,171 |
Additions to property, plant and equipment |  |  | 6,866 |  |  |  | 197 |  |  |  | 85 |  |  |  | 7,148 |
Depreciation and amortization |  |  | 5,663 |  |  |  | 350 |  |  |  | 56 |  |  |  | 6,069 |
For the twelve months ended December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
(amounts in 000's) |  |  |  |  |  |  |  |  |  |  |  |
|  | United States |  |  | Canada |  |  | Europe |  |  | Total |
Net Sales |  | $ | 163,205 |  |  | $ | 13,891 |  |  | $ | 14,405 |  |  | $ | 191,501 |
Less: Segment cost of sales |  |  | 101,531 |  |  |  | 8,407 |  |  |  | 9,353 |  |  |  | 119,291 |
Less: Segment selling, general, and administrative expenses |  |  | 50,198 |  |  |  | 4,618 |  |  |  | 4,206 |  |  |  | 59,022 |
Segment operating income |  | $ | 11,477 |  |  | $ | 866 |  |  | $ | 845 |  |  | $ | 13,188 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (3,096 | )
Interest income |  |  |  |  |  |  |  |  |  |  |  | 119 |
Gain on sale of business |  |  |  |  |  |  |  |  |  |  |  | 12,564 |
Other (expense), net |  |  |  |  |  |  |  |  |  |  |  | (41 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 22,734 |
Assets |  |  | 131,382 |  |  |  | 8,557 |  |  |  | 9,302 |  |  |  | 149,241 |
Additions to property, plant and equipment |  |  | 4,626 |  |  |  | — |  |  |  | 47 |  |  |  | 4,673 |
Depreciation and amortization |  |  | 4,833 |  |  |  | 102 |  |  |  | 76 |  |  |  | 5,011 |
The table below presents revenue by geographic area. Revenues are attributed to countries based on location of the customer. (000’s omitted)
Revenues |  | 2024 |  |  | 2023 |
United States |  | $ | 165,080 |  |  | $ | 162,070 |
International: |  |  |  |  |  |
Canada |  |  | 13,261 |  |  |  | 13,891 |
Europe |  |  | 15,077 |  |  |  | 14,405 |
Other |  |  | 1,072 |  |  |  | 1,135 |
Total International |  | $ | 29,410 |  |  | $ | 29,431 |
Total Revenues |  | $ | 194,490 |  |  | $ | 191,501 |
The table below presents long-lived assets by geographic area. Long-lived assets are attributed to countries based on location of the asset. (000’s omitted)
Long-lived assets |  | 2024 |  |  | 2023 |
United States |  | $ | 62,499 |  |  | $ | 55,006 |
International: |  |  |  |  |  |
Canada |  |  | 3,814 |  |  |  | 1,691 |
Europe |  |  | 266 |  |  |  | 252 |
Other |  |  | 130 |  |  |  | 268 |
Total International |  | $ | 4,210 |  |  | $ | 2,211 |
Total Long-lived assets |  | $ | 66,709 |  |  | $ | 57,217 |

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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/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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