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Segments (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Schedule of operating segments

The following table shows information for reportable operating segments:

		Three months ended June 30, 2019																Three months ended June 30, 2018
			Verification and Certification Segment				Software Sales and Related Consulting Segment				Eliminations and Other				Consolidated Totals				Verification and Certification Segment				Software Sales and Related Consulting Segment				Eliminations and Other				Consolidated Totals
Assets:
Intangible and other assets, net		$	1,384,114			$	2,163,784			$	—			$	3,547,898			$	2,124,367			$	1,629,938			$	—			$	3,754,305
Goodwill			1,133,122				2,010,612				—				3,143,734				1,427,499				1,197,191				—				2,624,690
Total assets			13,242,580				5,522,707				—				18,765,287				11,921,178				2,117,717				—				14,038,895
Revenues:
Verification and certification service revenue		$	3,743,241			$	—			$	—			$	3,743,241			$	3,507,757			$	—			$	—			$	3,507,757
Product sales			635,333				—				—				635,333				496,312				—				—				496,312
Software license, maintenance and support services revenue			—				338,674				(38,740	)			299,934				—				263,316				—				263,316
Software-related consulting service revenue			—				242,808				(33,057	)			209,751				—				170,923				—				170,923
Total revenues		$	4,378,574			$	581,482			$	(71,797	)		$	4,888,259			$	4,004,069			$	434,239			$	—			$	4,438,308
Costs of revenues:
Costs of verification and certification services			2,127,574				—				(30,300	)			2,097,274				1,850,555				—				—				1,850,555
Costs of products			398,073				—				—				398,073				319,970				—				—				319,970
Costs of software license, maintenance and support services			—				161,610				—				161,610				—				168,511				—				168,511
Costs of software-related consulting services			—				142,900				—				142,900				—				87,546				—				87,546
Total costs of revenues			2,525,647				304,510				(30,300	)			2,799,857				2,170,525				256,057				—				2,426,582
Gross profit			1,852,927				276,972				(41,497	)			2,088,402				1,833,544				178,182				—				2,011,726
Depreciation & amortization			102,651				182,457				—				285,108				90,971				138,134				—				229,105
Other operating expenses			1,205,472				236,105				(41,497	)			1,400,080				1,409,474				131,888				—				1,541,362
Segment operating (loss)/income		$	544,804			$	(141,590	)		$	—			$	403,214			$	333,099			$	(91,840	)		$	—			$	241,258
Other items to reconcile segment operating income (loss) to net income attributable to WFCF:
Other expense (income)			(30,326	)			(3	)			—				(30,329	)			(3,938	)			131				—				(3,807	)
Income tax (benefit)/expense			—				—				129,089				129,089				—				—				80,000				80,000
Net loss attributable to non-controlling interest			—				56,635				—				56,635				—				11,774				—				11,774
Net (loss)/income attributable to WFCF		$	575,130			$	(84,952	)		$	(129,089	)		$	361,089			$	337,036			$	(80,197	)		$	(80,000	)		$	176,839

		Six months ended June 30, 2019																Six months ended June 30, 2018
			Verification and Certification Segment				Software Sales and Related Consulting Segment				Eliminations and Other				Consolidated Totals				Verification and Certification Segment				Software Sales and Related Consulting Segment				Eliminations and Other				Consolidated Totals
Assets:
Intangible and other assets, net		$	1,384,114			$	2,163,784			$	—			$	3,547,898			$	2,124,367			$	1,629,938			$	—			$	3,754,305
Goodwill			1,133,122				2,010,612				—				3,143,734				1,427,499				1,197,191				—				2,624,690
Total assets			13,242,580				5,522,707				—				18,765,287				11,921,178				2,117,717				—				14,038,895
Revenues:
Verification and certification service revenue		$	6,554,935			$	—			$	—			$	6,554,935			$	6,303,951			$	—			$	—			$	6,303,951
Product sales			1,276,391				—				—				1,276,391				850,206				—				—				850,206
Software license, maintenance and support services revenue			—				682,240				(87,277	)			594,963				—				550,760				—				550,760
Software-related consulting service revenue			—				464,031				(47,521	)			416,510				—				354,193				—				354,193
Total revenues		$	7,831,326			$	1,146,271			$	(134,798	)		$	8,842,799			$	7,154,157			$	904,953			$	—			$	8,059,110
Costs of revenues:
Costs of verification and certification services			3,722,337				—				(62,973	)			3,659,364				3,301,164				—				—				3,301,164
Costs of products			841,258				—				—				841,258				545,945				—				—				545,945
Costs of software license, maintenance and support services			—				315,613				—				315,613				—				305,945				—				305,945
Costs of software-related consulting services			—				272,436				—				272,436				—				163,007				—				163,007
Total costs of revenues			4,563,595				588,049				(62,973	)			5,088,671				3,847,109				468,952				—				4,316,061
Gross profit			3,267,731				558,222				(71,825	)			3,754,128				3,307,048				436,001				—				3,743,049
Depreciation & amortization			184,588				360,639				—				545,227				225,426				276,180				—				501,605
Other operating expenses			2,710,104				468,021				(71,825	)			3,106,300				2,685,415				287,922				—				2,973,336
Segment operating (loss)/income		$	373,039			$	(270,438	)		$	—			$	102,601			$	396,208			$	(128,101	)		$	—			$	268,107
Other items to reconcile segment operating income (loss) to net income attributable to WFCF:
Other expense (income)			(59,975	)			(1,003	)			—				(60,978	)			(6,506	)			860				—				(5,646	)
Income tax (benefit)/expense			—				—				46,089				46,089				—				—				88,000				88,000
Net loss attributable to non-controlling interest			—				100,470				—				100,470				—				26,570				—				26,570
Net (loss)/income attributable to WFCF		$	433,014			$	(168,965	)		$	(46,089	)		$	217,960			$	402,714			$	(102,390	)		$	(88,000	)		$	212,323

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 21
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599

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