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Note 10 - Business Segment Information

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

Note 10 - Business Segment Information

We report our results in two operating segments: Battery & Energy Products and Communications Systems. The Battery & Energy Products segment includes: Lithium 9-volt, cylindrical and various other non-rechargeable batteries, in addition to rechargeable batteries, uninterruptable power supplies, charging systems and accessories. The Communications Systems segment includes: RF amplifiers, power supplies, cable and connector assemblies, amplified speakers, equipment mounts, case equipment, man-portable systems, integrated communication systems for fixed or vehicle applications and communications and electronics systems design. We believe that reporting performance at the gross profit level is the best indicator of segment performance. 

2021:

		Battery & Energy Products				Communications Systems				Corporate				Total
Revenue		$	87,083			$	11,184			$	-			$	98,267
Segment contribution			21,063				3,579				(24,607	)			35
Other expense											186				186
Income tax expense											79				79
Non-controlling interest											4				4
Net loss attributable to Ultralife														$	(234	)
Total assets		$	110,633			$	25,359			$	23,546				159,538
Capital expenditures		$	2,104			$	255			$	455			$	2,814
Goodwill		$	26,575			$	11,493				-			$	38,068
Depreciation and amortization of intangible assets		$	2,847			$	326			$	366			$	3,539
Stock-based compensation		$	298			$	125			$	248			$	671

2020:

		Battery & Energy Products				Communications Systems				Corporate				Total
Revenue		$	91,907			$	15,805			$	-			$	107,712
Segment contribution			23,400				5,759				(23,458	)			5,701
Other income											(1,322	)			(1,322	)
Income tax expense											1,692				1,692
Non-controlling interest											99				99
Net income attributable to Ultralife														$	5,232
Total assets		$	85,112			$	26,425			$	26,164			$	137,701
Capital expenditures		$	3,031			$	-			$	70			$	3,101
Goodwill		$	15,525			$	11,493				-			$	27,018
Depreciation and amortization of intangible assets		$	2,269			$	342			$	324			$	2,935
Stock-based compensation		$	446			$	155			$	342			$	943

Long-lived assets (comprised of property, plant and equipment; goodwill; and other intangible assets) held outside the U.S., principally in Canada, United Kingdom and China, were $26,762 and $12,456 as of December 31, 2021 and 2020, respectively.

The following tables disaggregate our business segment revenues by major source and geography.

Commercial and Government/Defense Revenue Information:

Year ended December 31, 2021:

		Total Revenue				Commercial				Government/ Defense
Battery & Energy Products		$	87,083			$	64,079			$	23,004
Communications Systems			11,184				-				11,184
Total		$	98,267			$	64,079			$	34,188
							65	%			35	%

Year ended December 31, 2020:

		Total Revenue				Commercial				Government/ Defense
Battery & Energy Products		$	91,907			$	62,330			$	29,577
Communications Systems			15,805				-				15,805
Total		$	107,712			$	62,330			$	45,382
							58	%			42	%

U.S. and Non-U.S. Revenue Information¹:

Year ended December 31, 2021:

		Total Revenue				United States				Non-United States
Battery & Energy Products		$	87,083			$	43,298			$	43,785
Communications Systems			11,184				5,521				5,663
Total		$	98,267			$	48,819			$	49,448
							50	%			50	%

Year ended December 31, 2020:

		Total Revenue				United States				Non-United States
Battery & Energy Products		$	91,907			$	49,930			$	41,977
Communications Systems			15,805				12,325				3,480
Total		$	107,712			$	62,255			$	45,457
							58	%			42	%

¹ Sales classified to U.S. include shipments to U.S.-based prime contractors which in some cases may serve non-U.S. projects.

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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.

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