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Segment Reporting | 9 Months Ended
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Oct. 31, 2020
Segment Reporting |
14. Segment Reporting | 14. Segment Reporting We manage our operations by evaluating each of our geographic locations. Our US operations include a facility in Alabama (primarily the distribution to customers of the bulk of our products and the light manufacturing of our chemical, wovens, reflective, and fire products). The Company also maintains one manufacturing company in China (primarily disposable and chemical suit production), a manufacturing facility in Mexico (primarily disposable, reflective, fire and chemical suit production), a manufacturing facility in Vietnam (primarily disposable production) and a small manufacturing facility in India. Our China facilities produce the majority of the Company’s products and China generates a significant portion of the Company’s international revenues. We evaluate the performance of these entities based on operating profit, which is defined as gross profit less operating expenses. We have sales forces in the USA, Canada, Mexico, Europe, Latin America, India, Russia, Kazakhstan, Australia and China, which sell and distribute products shipped from the United States, Mexico, India, Vietnam or China. The table below represents information about reported segments for the years noted therein:
|  | Three Months Ended October 31, |  |  | Nine Months Ended October 31, |
|  | (in millions of dollars) |  |  | (in millions of dollars) |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Net Sales: |  |  |  |  |  |  |  |  |  |  |  |
USA Operations (including Corporate) |  | $ | 17.43 |  |  | $ | 15.84 |  |  | $ | 57.11 |  |  | $ | 45.36 |
Other foreign |  |  | 3.39 |  |  |  | 1.65 |  |  |  | 8.81 |  |  |  | 4.81 |
Europe (UK) |  |  | 5.58 |  |  |  | 2.38 |  |  |  | 12.75 |  |  |  | 7.24 |
Mexico |  |  | 2.12 |  |  |  | 1.22 |  |  |  | 4.84 |  |  |  | 3.09 |
Asia |  |  | 23.25 |  |  |  | 13.34 |  |  |  | 67.42 |  |  |  | 43.97 |
Canada |  |  | 4.20 |  |  |  | 2.60 |  |  |  | 10.92 |  |  |  | 7.50 |
Latin America |  |  | 3.75 |  |  |  | 2.01 |  |  |  | 9.38 |  |  |  | 6.45 |
Less intersegment sales |  |  | (18.27 | ) |  |  | (11.58 | ) |  |  | (49.18 | ) |  |  | (38.80 | )
Consolidated sales |  | $ | 41.45 |  |  | $ | 27.46 |  |  | $ | 122.05 |  |  | $ | 79.62 |
External Sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
USA Operations (including Corporate) |  | $ | 17.04 |  |  | $ | 14.16 |  |  | $ | 54.60 |  |  | $ | 41.47 |
Other foreign |  |  | 2.72 |  |  |  | 0.91 |  |  |  | 7.04 |  |  |  | 2.61 |
Europe (UK) |  |  | 5.58 |  |  |  | 2.38 |  |  |  | 12.75 |  |  |  | 7.24 |
Mexico |  |  | 1.91 |  |  |  | 0.88 |  |  |  | 3.89 |  |  |  | 2.08 |
Asia |  |  | 6.36 |  |  |  | 4.62 |  |  |  | 23.80 |  |  |  | 12.49 |
Canada |  |  | 4.20 |  |  |  | 2.60 |  |  |  | 10.92 |  |  |  | 7.47 |
Latin America |  |  | 3.64 |  |  |  | 1.91 |  |  |  | 9.05 |  |  |  | 6.26 |
Consolidated external sales |  | $ | 41.45 |  |  | $ | 27.46 |  |  | $ | 122.05 |  |  | $ | 79.62 |
Intersegment Sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
USA Operations (including Corporate) |  | $ | 0.39 |  |  | $ | 1.68 |  |  | $ | 2.50 |  |  | $ | 3.89 |
Other foreign |  |  | 0.67 |  |  |  | 0.74 |  |  |  | 1.77 |  |  |  | 2.20 |
Mexico |  |  | 0.21 |  |  |  | 0.34 |  |  |  | 0.95 |  |  |  | 1.01 |
Asia |  |  | 16.90 |  |  |  | 8.71 |  |  |  | 43.62 |  |  |  | 31.48 |
Canada |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0.03 |
Latin America |  |  | 0.10 |  |  |  | 0.11 |  |  |  | 0.34 |  |  |  | 0.19 |
Consolidated intersegment sales |  | $ | 18.27 |  |  | $ | 11.58 |  |  | $ | 49.18 |  |  | $ | 38.80 |
|  | Three Months Ended October 31, |  |  | Nine Months Ended October 31, |
|  | (in millions of dollars) |  |  | (in millions of dollars) |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Operating Profit (Loss): |  |  |  |  |  |  |  |  |  |  |  |
USA Operations (including Corporate) |  | $ | 2.17 |  |  | $ | 0.14 |  |  | $ | 7.86 |  |  | $ | (0.29 | )
Other foreign |  |  | 0.96 |  |  |  | 0.14 |  |  |  | 3.35 |  |  |  | 0.30 |
Europe (UK) |  |  | 1.75 |  |  |  | 0.02 |  |  |  | 3.35 |  |  |  | (0.02 | )
Mexico |  |  | 0.11 |  |  |  | 0.02 |  |  |  | 0.12 |  |  |  | (0.39 | )
Asia |  |  | 6.04 |  |  |  | 1.04 |  |  |  | 15.51 |  |  |  | 2.87 |
Canada |  |  | 0.55 |  |  |  | 0.25 |  |  |  | 1.95 |  |  |  | 0.77 |
Latin America |  |  | 1.24 |  |  |  | 0.21 |  |  |  | 2.93 |  |  |  | 0.81 |
Less intersegment profit |  |  | (0.33 | ) |  |  | 0.01 |  |  |  | (0.47 | ) |  |  | 0.11 |
Consolidated operating profit |  | $ | 12.49 |  |  | $ | 1.83 |  |  | $ | 34.60 |  |  | $ | 4.16 |
Depreciation and Amortization Expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
USA Operations (including Corporate) |  | $ | 0.21 |  |  | $ | 0.22 |  |  | $ | 0.63 |  |  | $ | 0.64 |
Other foreign |  |  | 0.01 |  |  |  | — |  |  |  | 0.03 |  |  |  | 0.02 |
Mexico |  |  | 0.05 |  |  |  | 0.04 |  |  |  | 0.13 |  |  |  | 0.12 |
Asia |  |  | 0.19 |  |  |  | 0.14 |  |  |  | 0.55 |  |  |  | 0.40 |
Canada |  |  | 0.03 |  |  |  | 0.03 |  |  |  | 0.07 |  |  |  | 0.08 |
Latin America |  |  | 0.01 |  |  |  | 0.01 |  |  |  | 0.03 |  |  |  | 0.03 |
Less intersegment |  |  | — |  |  |  | (0.01 | ) |  |  | (0.02 | ) |  |  | (0.02 | )
Consolidated depreciation & amortization expense |  | $ | 0.50 |  |  | $ | 0.43 |  |  | $ | 1.42 |  |  | $ | 1.27 |
Interest Expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Europe (UK) |  | $ | — |  |  | $ | — |  |  | $ | 0.01 |  |  | $ | 0.01 |
USA Operations (including Corporate) |  |  | — |  |  | $ | 0.02 |  |  |  | — |  |  | $ | 0.05 |
Latin America |  |  | — |  |  |  | 0.01 |  |  |  | — |  |  |  | 0.04 |
Consolidated interest expense |  | $ | — |  |  | $ | 0.03 |  |  | $ | 0.01 |  |  | $ | 0.10 |
Income Tax Expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
USA Operations (including Corporate) |  | $ | 1.99 |  |  | $ | 0.38 |  |  | $ | 3.43 |  |  | $ | 0.81 |
Europe (UK) |  |  | 0.33 |  |  | $ | 0.01 |  |  | $ | 0.61 |  |  | $ | 0.01 |
Asia |  |  | 0.51 |  |  |  | 0.16 |  |  |  | 2.24 |  |  |  | 0.67 |
Canada |  |  | 0.20 |  |  |  | 0.10 |  |  |  | 0.58 |  |  |  | 0.32 |
Latin America |  |  | 0.27 |  |  |  | — |  |  |  | 0.67 |  |  |  | 0.13 |
Less intersegment |  |  | (0.06 | ) |  |  | — |  |  |  | (0.14 | ) |  |  | 0.01 |
Consolidated income tax expense |  | $ | 3.24 |  |  | $ | 0.65 |  |  | $ | 7.39 |  |  | $ | 1.95 |
|  | October 31, 2020 |  |  | January 31, 2020 |
|  | (in millions of dollars) |
Total Assets: * |  |  |  |
USA Operations (including Corporate) |  | $ | 89.19 |  |  | $ | 88.08 |
Other foreign |  |  | 4.49 |  |  |  | 1.69 |
Europe (UK) |  |  | 9.02 |  |  |  | 4.52 |
Mexico |  |  | 6.01 |  |  |  | 5.00 |
Asia |  |  | 58.86 |  |  |  | 44.22 |
Canada |  |  | 7.82 |  |  |  | 6.09 |
Latin America |  |  | 7.01 |  |  |  | 5.77 |
Less intersegment |  |  | (50.15 | ) |  |  | (55.96 | )
Consolidated assets |  | $ | 132.25 |  |  | $ | 99.41 |
Total Assets Less Intersegment: * |  |  |  |  |  |  |  |
USA Operations (including Corporate) |  | $ | 53.73 |  |  | $ | 49.94 |
Other foreign |  |  | 6.39 |  |  |  | 3.41 |
Europe (UK) |  |  | 9.00 |  |  |  | 4.52 |
Mexico |  |  | 6.02 |  |  |  | 5.16 |
Asia |  |  | 42.51 |  |  |  | 24.65 |
Canada |  |  | 7.79 |  |  |  | 6.07 |
Latin America |  |  | 6.81 |  |  |  | 5.66 |
Consolidated assets |  | $ | 132.25 |  |  | $ | 99.41 |
Property and Equipment: |  |  |  |  |  |  |  |
USA Operations (including Corporate) |  | $ | 3.21 |  |  | $ | 3.40 |
Other foreign |  |  | 0.27 |  |  |  | 0.15 |
Europe (UK) |  |  | 0.01 |  |  |  | 0.01 |
Mexico |  |  | 2.39 |  |  |  | 2.17 |
Asia |  |  | 2.96 |  |  |  | 3.19 |
Canada |  |  | 1.09 |  |  |  | 1.15 |
Latin America |  |  | 0.09 |  |  |  | 0.04 |
Consolidated property and equipment |  | $ | 10.02 |  |  | $ | 10.11 |
Capital Expenditures: |  |  |  |  |  |  |  |
USA Operations (including Corporate) |  | $ | 0.42 |  |  | $ | 0.25 |
Other foreign |  |  | 0.22 |  |  |  | 0.01 |
Europe (UK) |  |  | — |  |  |  | 0.01 |
Mexico |  |  | 0.35 |  |  |  | 0.17 |
Asia |  |  | 0.19 |  |  |  | 0.58 |
Latin America |  |  | 0.15 |  |  |  | 0.01 |
Consolidated capital expenditure |  | $ | 1.33 |  |  | $ | 1.03 |
Goodwill: |  |  |  |  |  |  |  |
USA Operations |  | $ | 0.87 |  |  | $ | 0.87 |
Consolidated goodwill |  | $ | 0.87 |  |  | $ | 0.87 |
* Negative assets reflect intersegment amounts eliminated in consolidation
The table below presents external sales by product line:
|  | Three Months Ended October 31, (in millions of dollars) |  |  | Nine Months Ended October 31, (in millions of dollars) |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
External Sales by product lines: |  |  |  |  |  |  |  |  |  |  |  |
Disposables |  | $ | 25.78 |  |  | $ | 12.52 |  |  | $ | 80.77 |  |  | $ | 39.19 |
Chemical |  |  | 9.71 |  |  |  | 5.68 |  |  |  | 24.77 |  |  |  | 16.30 |
Fire |  |  | 1.62 |  |  |  | 2.81 |  |  |  | 4.74 |  |  |  | 6.64 |
Gloves |  |  | 0.54 |  |  |  | 0.74 |  |  |  | 1.86 |  |  |  | 2.33 |
High Visibility |  |  | 1.40 |  |  |  | 2.20 |  |  |  | 3.70 |  |  |  | 6.04 |
High Performance Wear |  |  | 0.74 |  |  |  | 0.83 |  |  |  | 1.56 |  |  |  | 1.26 |
Wovens |  |  | 1.66 |  |  |  | 2.68 |  |  |  | 4.65 |  |  |  | 7.86 |
Consolidated external sales |  | $ | 41.45 |  |  | $ | 27.46 |  |  | $ | 122.05 |  |  | $ | 79.62 |

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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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