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REPORTABLE SEGMENTS | 12 Months Ended
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Jan. 02, 2021
REPORTABLE SEGMENTS |
12. REPORTABLE SEGMENTS | 12. REPORTABLE SEGMENTS
|  | 2020 |  |  | 2019 |
Sales: |  |  |  |  |  |
Sales to unaffiliated customers: |  |  |  |  |  |
Engineered Solutions |  | $ | 197,614,590 |  |  | $ | 186,795,507 |
Diversified Products |  |  | 42,788,524 |  |  |  | 64,947,112 |
|  | $ | 240,403,114 |  |  | $ | 251,742,619 |
Inter-segment Sales: |  |  |  |  |  |  |  |
Engineered Solutions |  | $ | 675,389 |  |  | $ | 1,286,384 |
Diversified Products |  |  | 25,559 |  |  |  | 43,451 |
|  | $ | 700,948 |  |  | $ | 1,329,835 |
Income Before Income Taxes: |  |  |  |  |  |  |  |
Engineered Solutions |  | $ | 14,589,675 |  |  | $ | 16,512,736 |
Diversified Products |  |  | (7,589,421 | ) |  |  | 945,118 |
Operating Profit |  |  | 7,000,254 |  |  |  | 17,457,854 |
Interest Expense |  |  | (2,744,800 | ) |  |  | (1,857,961 | )
Other Income |  |  | 1,770,158 |  |  |  | 606,078 |
|  | $ | 6,025,612 |  |  | $ | 16,205,971 |
Geographic Information: |  |  |  |  |  |  |  |
Net Sales: |  |  |  |  |  |  |  |
United States |  | $ | 225,835,894 |  |  | $ | 230,920,619 |
Foreign |  |  | 14,567,220 |  |  |  | 20,822,000 |
|  | $ | 240,403,114 |  |  | $ | 251,742,619 |
Foreign sales are primarily to customers in North America. |  |  |  |  |  |  |  |
Identifiable Assets: |  |  |  |  |  |  |  |
United States |  | $ | 253,689,704 |  |  | $ | 263,295,787 |
Foreign |  |  | 21,838,650 |  |  |  | 17,367,189 |
|  | $ | 275,528,354 |  |  | $ | 280,662,976 |
Engineered Solutions |  | $ | 95,140,639 |  |  | $ | 91,032,813 |
Diversified Products |  |  | 36,873,709 |  |  |  | 49,219,614 |
|  |  | 132,014,348 |  |  |  | 140,252,427 |
General corporate |  |  | 143,514,006 |  |  |  | 140,410,549 |
|  | $ | 275,528,354 |  |  | $ | 280,662,976 |
12. REPORTABLE SEGMENTS (continued)
Depreciation and Amortization: |  |  |  |  |  |
Engineered Solutions |  | $ | 6,795,435 |  |  | $ | 4,495,380 |
Diversified Products |  |  | 1,682,077 |  |  |  | 1,959,501 |
|  | $ | 8,477,512 |  |  | $ | 6,454,881 |
Capital Expenditures: |  |  |  |  |  |  |  |
Engineered Solutions |  | $ | 2,340,762 |  |  | $ | 4,025,649 |
Diversified Products |  |  | 763,674 |  |  |  | 1,411,509 |
|  |  | 3,104,436 |  |  |  | 5,437,158 |
Currency translation adjustment |  |  | (8,439 | ) |  |  | 3,330 |
General corporate |  |  | 2,986 |  |  |  | - |
|  | $ | 3,098,983 |  |  | $ | 5,440,488 |

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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 + Details
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