XML 31 R22.htm IDEA: XBRL DOCUMENT v3.8.0.1
Segment Information
9 Months Ended
Sep. 30, 2017
Segment Information [Abstract]  
SEGMENT INFORMATION
16.SEGMENT INFORMATION

 

We principally operate in the business segment described in Note 1. Pursuant to Codification Topic 280, Segment Reporting, we operate in one reportable business segment, that being the development, acquisition, manufacture and sale of products that improve the health and productivity of dairy and beef cattle. Almost all of our internally funded product development expenses are in support of such products. The significant accounting policies of this segment are described in Note 2. Our single operating segment is defined as the component of our business for which financial information is available and evaluated regularly by our chief operating decision-maker in deciding how to allocate resources and in assessing performance. Our chief operating decision-maker is our President and CEO.

 

Sales of the First Defense® product line aggregated 98% and 93% of our total product sales during the three-month periods ended September 30, 2017 and 2016, respectively, and 94% and 93% of our total product sales during the nine-month periods ended September 30, 2017 and 2016, respectively. Our primary customers for the majority of our product sales (87% and 83% during the three-month periods ended September 30, 2017 and 2016, respectively, and 83% and 85% during the nine-month periods ended September 30, 2017 and 2016, respectively) are in the U.S. dairy and beef industries. Product sales to international customers, who are also in the dairy and beef industries, aggregated 13% and 17% of our total product sales during the three-month periods ended September 30, 2017 and 2016, respectively, and 15% and 14% of our total product sales during the nine-month periods ended September 30, 2017 and 2016, respectively.