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Note 10 - Segment Information | 3 Months Ended
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Apr. 02, 2023
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
(10) | Segment Data
The Company is organized into two business segments, Sypris Technologies and Sypris Electronics. The segments are each managed separately because of the distinctions between the products, markets, customers, technologies, and workforce skills of the segments. Sypris Technologies generates revenue primarily from the sale of forged, machined, welded and heat-treated steel components primarily for the heavy commercial vehicle and high-pressure energy pipeline applications. Sypris Electronics provides circuit card and box build manufacturing, high reliability manufacturing, systems assembly and integration, design for manufacturability and design to specification work to customers in the market for aerospace and defense electronics. There was no intersegment net revenue recognized for any period presented. The Company includes the unallocated costs of its corporate office, including the employment costs of its senior management team and other corporate personnel, administrative costs and net corporate interest expense incurred at the corporate level under the caption “General, corporate and other” in the table below. Such unallocated costs include those for centralized information technology, finance, legal and human resources support teams, certain professional fees, director fees, corporate office rent, certain self-insurance costs and recoveries, software license fees and various other administrative expenses that are not allocated to our reportable segments. The unallocated assets include cash and cash equivalents maintained in its domestic treasury accounts and the net book value of corporate facilities and related information systems. The unallocated liabilities consist primarily of the related party notes payable. Domestic income taxes are calculated at an entity level and are not allocated to our reportable segments. Corporate capital expenditures and depreciation and amortization include items attributable to the unallocated fixed assets of the corporate office and related information systems. The following table presents financial information for the reportable segments of the Company (in thousands):
|  | Three Months Ended |
|  | April 2, |  |  | April 3, |
|  | 2023 |  |  | 2022 |
|  | (Unaudited) |
Net revenue from unaffiliated customers: |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 19,500 |  |  | $ | 17,155 |
Sypris Electronics |  |  | 12,792 |  |  |  | 9,011 |
Total net revenue |  | $ | 32,292 |  |  | $ | 26,166 |
Gross profit: |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 2,639 |  |  | $ | 3,132 |
Sypris Electronics |  |  | 1,522 |  |  |  | 1,377 |
Total gross profit |  | $ | 4,161 |  |  | $ | 4,509 |
|  | Three Months Ended |
|  | April 2, |  |  | April 3, |
|  | 2023 |  |  | 2022 |
|  | (Unaudited) |
Operating income (loss): |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 1,161 |  |  | $ | 1,864 |
Sypris Electronics |  |  | 562 |  |  |  | 501 |
General, corporate and other |  |  | (1,307 | ) |  |  | (1,245 | )
Total operating income |  | $ | 416 |  |  | $ | 1,120 |
Income (loss) before taxes: |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 1,023 |  |  | $ | 1,619 |
Sypris Electronics |  |  | 532 |  |  |  | 461 |
General, corporate and other |  |  | (1,436 | ) |  |  | (1,377 | )
Total income (loss) before taxes |  | $ | 119 |  |  | $ | 703 |
|  | April 2, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
|  | (Unaudited) |  |  |  |  |
Total assets: |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 42,191 |  |  | $ | 36,875 |
Sypris Electronics |  |  | 58,540 |  |  |  | 47,522 |
General, corporate and other |  |  | 15,711 |  |  |  | 19,747 |
Total assets |  | $ | 116,442 |  |  | $ | 104,144 |
Total liabilities: |  |  |  |  |  |  |  |
Sypris Technologies |  | $ | 21,985 |  |  | $ | 19,492 |
Sypris Electronics |  |  | 65,050 |  |  |  | 56,073 |
General, corporate and other |  |  | 8,418 |  |  |  | 9,004 |
Total liabilities |  | $ | 95,453 |  |  | $ | 84,569 |

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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