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Segments | 9 Months Ended
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Sep. 30, 2021
Segment Reporting [Abstract] |
Segments | Note 12 - Segments With each acquisition, we assess the need to disclose discrete information related to our operating segments. Because of the similarities of certain of our acquisitions that provide certification and verification services, we aggregate operations into one verification and certification reportable segment. The operating segments included in the aggregated verification and certification segment include IMI Global, WFCFO and Validus. The factors considered in determining this aggregated reporting segment include the economic similarity of the businesses, the nature of services provided, production processes, types of customers and distribution methods. The Company also determined that it has a software and related consulting reportable segment. SureHarvest, which includes Postelsia, is the sole operating segment under the software and related consulting reportable segment. This segment includes software license, maintenance, support and software-related consulting service revenues. The Company’s chief operating decision maker (the Company’s CEO) allocates resources and assesses the performance of its operating segments. Segment management makes decisions, measures performance, and manages the business utilizing internal reporting operating segment information. Performance of operating segments are based on net sales, gross profit, selling, general and administrative expenses and most importantly, operating income. Where Food Comes From, Inc. Notes to the Consolidated Financial Statements (Unaudited) The Company eliminates intercompany transfers between segments for management reporting purposes. The following table shows information for reportable operating segments (amounts in thousands): Schedule of Operating Segments
|  | Three months ended September 30, 2021 |  |  | Three months ended September 30, 2020 |
|  |  | Verification and Certification Segment |  |  |  | Software and Related Consulting Segment |  |  |  | Eliminations and Other |  |  |  | Consolidated Totals |  |  |  | Verification and Certification Segment |  |  |  | Software and Related Consulting Segment |  |  |  | Eliminations and Other |  |  |  | Consolidated Totals |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 1,947 |  |  | $ | 999 |  |  | $ | - |  |  | $ | 2,946 |  |  | $ | 2,946 |  |  | $ | - |  |  | $ | - |  |  | $ | 2,946 |
All other assets, net |  |  | 17,036 |  |  |  | 3,311 |  |  |  | (2,778 | ) |  |  | 17,569 |  |  |  | 16,548 |  |  |  | 5,379 |  |  |  | (4,612 | ) |  |  | 17,315 |
Total assets |  | $ | 18,983 |  |  | $ | 4,310 |  |  | $ | (2,778 | ) |  | $ | 20,515 |  |  | $ | 19,494 |  |  | $ | 5,379 |  |  | $ | (4,612 | ) |  | $ | 20,261 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Verification and certification service revenue |  | $ | 4,701 |  |  | $ | - |  |  | $ | - |  |  | $ | 4,701 |  |  | $ | 4,307 |  |  | $ | - |  |  | $ | - |  |  | $ | 4,307 |
Product sales |  |  | 1,383 |  |  |  | - |  |  |  | - |  |  |  | 1,383 |  |  |  | 1,362 |  |  |  | - |  |  |  | - |  |  |  | 1,362 |
Software and related consulting revenue |  |  | - |  |  |  | 461 |  |  |  | - |  |  |  | 461 |  |  |  | - |  |  |  | 528 |  |  |  | - |  |  |  | 528 |
Total revenues |  | $ | 6,084 |  |  | $ | 461 |  |  | $ | - |  |  | $ | 6,545 |  |  | $ | 5,669 |  |  | $ | 528 |  |  | $ | - |  |  | $ | 6,197 |
Costs of revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs of verification and certification services |  |  | 2,438 |  |  |  | - |  |  |  | - |  |  |  | 2,438 |  |  |  | 2,233 |  |  |  | - |  |  |  | - |  |  |  | 2,233 |
Costs of products |  |  | 864 |  |  |  | - |  |  |  | - |  |  |  | 864 |  |  |  | 866 |  |  |  | - |  |  |  | - |  |  |  | 866 |
Costs of software and related consulting |  |  | - |  |  |  | 315 |  |  |  | - |  |  |  | 315 |  |  |  | - |  |  |  | 336 |  |  |  | - |  |  |  | 336 |
Total costs of revenues |  |  | 3,302 |  |  |  | 315 |  |  |  | - |  |  |  | 3,617 |  |  |  | 3,099 |  |  |  | 336 |  |  |  | - |  |  |  | 3,435 |
Gross profit |  |  | 2,782 |  |  |  | 146 |  |  |  | - |  |  |  | 2,928 |  |  |  | 2,570 |  |  |  | 192 |  |  |  | - |  |  |  | 2,762 |
Depreciation & amortization |  |  | 149 |  |  |  | 51 |  |  |  | - |  |  |  | 200 |  |  |  | 112 |  |  |  | 145 |  |  |  | - |  |  |  | 257 |
Other operating expenses |  |  | 1,542 |  |  |  | 48 |  |  |  | - |  |  |  | 1,590 |  |  |  | 1,404 |  |  |  | 145 |  |  |  | - |  |  |  | 1,549 |
Segment operating income/(loss) |  | $ | 1,091 |  |  | $ | 47 |  |  | $ | - |  |  | $ | 1,138 |  |  | $ | 1,054 |  |  | $ | (98 | ) |  | $ | - |  |  | $ | 956 |
Other items to reconcile segment operating income/(loss) to net income/(loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other income/(expense) |  |  | 29 |  |  |  | (2 | ) |  |  | - |  |  |  | 27 |  |  |  | 47 |  |  |  | (2 | ) |  |  | - |  |  |  | 45 |
Income tax expense |  |  | - |  |  |  | - |  |  |  | (298 | ) |  |  | (298 | ) |  |  | - |  |  |  | (8 | ) |  |  | (263 | ) |  |  | (271 | )
Net income/(loss) |  | $ | 1,120 |  |  | $ | 45 |  |  | $ | (298 | ) |  | $ | 867 |  |  | $ | 1,101 |  |  | $ | (108 | ) |  | $ | (263 | ) |  | $ | 730 |
|  | Nine months ended September 30, 2021 |  |  | Nine months ended September 30, 2020 |
|  |  | Verification and Certification Segment |  |  |  | Software and Related Consulting Segment |  |  |  | Eliminations and Other |  |  |  | Consolidated Totals |  |  |  | Verification and Certification Segment |  |  |  | Software and Related Consulting Segment |  |  |  | Eliminations and Other |  |  |  | Consolidated Totals |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 1,947 |  |  | $ | 999 |  |  | $ | - |  |  | $ | 2,946 |  |  | $ | 2,946 |  |  | $ | - |  |  | $ | - |  |  | $ | 2,946 |
All other assets, net |  |  | 17,036 |  |  |  | 3,311 |  |  |  | (2,778 | ) |  |  | 17,569 |  |  |  | 16,548 |  |  |  | 5,379 |  |  |  | (4,612 | ) |  |  | 17,315 |
Total assets |  |  | 18,983 |  |  |  | 4,310 |  |  |  | (2,778 | ) |  |  | 20,515 |  |  |  | 19,494 |  |  |  | 5,379 |  |  |  | (4,612 | ) |  |  | 20,261 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Verification and certification service revenue |  | $ | 11,659 |  |  | $ | - |  |  | $ | - |  |  | $ | 11,659 |  |  | $ | 10,218 |  |  | $ | - |  |  | $ | - |  |  | $ | 10,218 |
Product sales |  |  | 3,071 |  |  |  | - |  |  |  | - |  |  |  | 3,071 |  |  |  | 2,883 |  |  |  | - |  |  |  | - |  |  |  | 2,883 |
Software and related consulting revenue |  |  | - |  |  |  | 1,396 |  |  |  | - |  |  |  | 1,396 |  |  |  | - |  |  |  | 1,538 |  |  |  | (114 | ) |  |  | 1,424 |
Total revenues |  | $ | 14,730 |  |  | $ | 1,396 |  |  | $ | - |  |  | $ | 16,126 |  |  | $ | 13,101 |  |  | $ | 1,538 |  |  | $ | (114 | ) |  | $ | 14,525 |
Costs of revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs of verification and certification services |  |  | 6,363 |  |  |  | - |  |  |  | - |  |  |  | 6,363 |  |  |  | 5,373 |  |  |  | - |  |  |  | (90 | ) |  |  | 5,283 |
Costs of products |  |  | 1,969 |  |  |  | - |  |  |  | - |  |  |  | 1,969 |  |  |  | 1,869 |  |  |  | - |  |  |  | - |  |  |  | 1,869 |
Costs of software and related consulting |  |  | - |  |  |  | 995 |  |  |  | - |  |  |  | 995 |  |  |  | - |  |  |  | 901 |  |  |  | - |  |  |  | 901 |
Total costs of revenues |  |  | 8,332 |  |  |  | 995 |  |  |  | - |  |  |  | 9,327 |  |  |  | 7,242 |  |  |  | 901 |  |  |  | (90 | ) |  |  | 8,053 |
Gross profit |  |  | 6,398 |  |  |  | 401 |  |  |  | - |  |  |  | 6,799 |  |  |  | 5,859 |  |  |  | 637 |  |  |  | (24 | ) |  |  | 6,472 |
Depreciation & amortization |  |  | 448 |  |  |  | 153 |  |  |  | - |  |  |  | 601 |  |  |  | 313 |  |  |  | 423 |  |  |  | - |  |  |  | 736 |
Other operating expenses |  |  | 4,463 |  |  |  | 226 |  |  |  | - |  |  |  | 4,689 |  |  |  | 4,206 |  |  |  | 483 |  |  |  | (24 | ) |  |  | 4,665 |
Segment operating income/(loss) |  | $ | 1,487 |  |  | $ | 22 |  |  | $ | - |  |  | $ | 1,509 |  |  | $ | 1,340 |  |  | $ | (269 | ) |  | $ | - |  |  | $ | 1,071 |
Other items to reconcile segment operating income/(loss) to net income/(loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other income/(expense) |  |  | 95 |  |  |  | (9 | ) |  |  | 1,037 |  |  |  | 1,123 |  |  |  | 107 |  |  |  | (2 | ) |  |  | - |  |  |  | 105 |
Income tax expense |  |  | - |  |  |  | (5 | ) |  |  | (408 | ) |  |  | (413 | ) |  |  | - |  |  |  | (8 | ) |  |  | (328 | ) |  |  | (336 | )
Net income/(loss) |  | $ | 1,582 |  |  | $ | 8 |  |  | $ | 629 |  |  | $ | 2,219 |  |  | $ | 1,447 |  |  | $ | (279 | ) |  | $ | (328 | ) |  | $ | 840 |
Where Food Comes From, Inc. Notes to the Consolidated Financial Statements (Unaudited)

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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