XML 28 R11.htm IDEA: XBRL DOCUMENT
v3.25.1

Note 3 - Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2024
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | 3. Segment Information Chief Operating Decision Maker The Company's chief operating decision maker ("CODM") are the co-Chief Executive Officers. Reportable Segments The Company reports its results from operations consistent with the manager in which the CODM review the business to assess performance and allocate resources. As such, the Company reports its results in two reporting segments: Electronic Instruments and Merchant Investment. A brief description of each segment is below: The Electronic Instruments segment includes all products manufactured and sold by PTF. The Merchant Investment segment includes all activity produced by Lynch Capital International, LLC ("Lynch Capital"). The Company includes in Corporate the following corporate and business activities:
| • | corporate level assets and financial obligations such as cash and equivalents invested in highly liquid U.S. Treasury money market funds and other marketable securities;
| • | other items not allocated to or directly related to the Company's operating segments, including items such as deferred tax balances; and
| • | intercompany eliminations.
Measure of Segment Profit or Loss and Segment Assets The accounting policies used in both the Electronic Instruments and Merchant Investment segments are the same as those described in Note 2 – Summary of Significant Accounting Policies. The CODM assess the performance of and decide how to allocate resources to each reporting segment based on Segment profit (loss), which is total revenues less Manufacturing cost of sales and Engineering, selling, and administrative. The CODM uses Segment profit (loss) to evaluate the overall profitability of the Electronic Instruments, Merchant Investment, and Corporate segments. Additionally, the CODM uses Segment profit (loss) to allocate resources in the annual budgeting and forecasting process. The CODM considers budget-to-actual variances when making decisions about allocating capital to each segment. The measure of segment assets is reported on the Consolidated Balance Sheets as consolidated Total assets. The CODM uses Total assets of each segment to allocate overhead expenses incurred by the Corporate segment. The following tables present LGL Group's continuing operations by segment:
|  | Year Ended December 31, 2024
|  | Electronic Instruments |  | Merchant Investment |  | Corporate |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 2,226 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,226 |
Net investment income |  |  | — |  |  |  | 1,228 |  |  |  | 843 |  |  |  | 2,071 |
Net losses |  |  | — |  |  |  | — |  |  |  | (5 | ) |  |  | (5 | )
Total revenues |  |  | 2,226 |  |  |  | 1,228 |  |  |  | 838 |  |  |  | 4,292 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Manufacturing cost of sales |  |  | 1,047 |  |  |  | — |  |  |  | — |  |  |  | 1,047 |
Engineering |  |  | 209 |  |  |  | — |  |  |  | — |  |  |  | 209 |
Commissions |  |  | 112 |  |  |  | — |  |  |  | — |  |  |  | 112 |
Sales and marketing |  |  | 185 |  |  |  | — |  |  |  | — |  |  |  | 185 |
Accounting |  |  | — |  |  |  | — |  |  |  | 270 |  |  |  | 270 |
Compensation |  |  | 243 |  |  |  | — |  |  |  | 779 |  |  |  | 1,022 |
Corporate allocations (a) |  |  | 42 |  |  |  | 371 |  |  |  | (413 | ) |  |  | — |
Other segment items (b) |  |  | 145 |  |  |  | 10 |  |  |  | 593 |  |  |  | 748 |
Engineering, selling and administrative |  |  | 936 |  |  |  | 381 |  |  |  | 1,229 |  |  |  | 2,546 |
Total expenses |  |  | 1,983 |  |  |  | 381 |  |  |  | 1,229 |  |  |  | 3,593 |
Segment profit (loss) |  | $ | 243 |  |  | $ | 847 |  |  | $ | (391 | ) |  | $ | 699 |
Reconciliation of Segment profit (loss) to Income (loss) from continuing operations before income taxes |
Adjustments and reconciling items |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Income from continuing operations before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 699 |
|  | Year Ended December 31, 2023 |
|  | Electronic Instruments |  |  | Merchant Investment |  |  | Corporate |  |  | Consolidated |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 1,728 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,728 |
Net investment income |  |  | — |  |  |  | 869 |  |  |  | 697 |  |  |  | 1,566 |
Net gains |  |  | — |  |  |  | — |  |  |  | 384 |  |  |  | 384 |
Total revenues |  |  | 1,728 |  |  |  | 869 |  |  |  | 1,081 |  |  |  | 3,678 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Manufacturing cost of sales |  |  | 796 |  |  |  | — |  |  |  | — |  |  |  | 796 |
Engineering |  |  | 248 |  |  |  | — |  |  |  | — |  |  |  | 248 |
Commissions |  |  | 99 |  |  |  | — |  |  |  | — |  |  |  | 99 |
Sales and marketing |  |  | 11 |  |  |  | — |  |  |  | — |  |  |  | 11 |
Accounting |  |  | — |  |  |  | — |  |  |  | 339 |  |  |  | 339 |
Compensation |  |  | 224 |  |  |  | — |  |  |  | 367 |  |  |  | 591 |
Corporate allocations (a) |  |  | 35 |  |  |  | 189 |  |  |  | (224 | ) |  |  | — |
Other segment items (b) |  |  | 163 |  |  |  | 27 |  |  |  | 758 |  |  |  | 948 |
Engineering, selling and administrative |  |  | 780 |  |  |  | 216 |  |  |  | 1,240 |  |  |  | 2,236 |
Total expenses |  |  | 1,576 |  |  |  | 216 |  |  |  | 1,240 |  |  |  | 3,032 |
Segment profit (loss) |  | $ | 152 |  |  | $ | 653 |  |  | $ | (159 | ) |  | $ | 646 |
Reconciliation of Segment profit (loss) to Income (loss) from continuing operations before income taxes |
Adjustments and reconciling items |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Income from continuing operations before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 646 |
(a) | The Electronic Instruments and Merchant Investment segments are allocated overhead expenses from the Corporate segment based on each segment's assets as a percentage of Total assets.
(b) | Other segment items for each reportable segment includes the following:
|  | Electronic Instruments - rent, amortization, professional service fees, and certain other overhead expenses.
|  | Merchant Investment - legal expense and certain other overhead expenses.
|  | Corporate - legal expense, insurance expense, filing fees, fees paid to MtronPTI under Amended and Restated Transitional Administrative and Management Services Agreement, and certain other overhead expenses.
Other Segment Disclosures The following table presents other segment information by segment:
|  | As of and For Year Ended December 31, 2024
|  | Electronic Instruments |  | Merchant Investment |  | Corporate |  | Total |  | Adjustments and Reconciling Items |  | Consolidated
Interest revenue (a) |  | $ | — |  |  | $ | 1,227 |  |  | $ | 843 |  |  | $ | 2,070 |  |  | $ | — |  |  | $ | 2,070 |
Depreciation (b) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Amortization (b) |  |  | 21 |  |  |  | — |  |  |  | — |  |  |  | 21 |  |  |  | — |  |  |  | 21 |
Other significant non-cash items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock-based compensation (c) |  |  | — |  |  |  | — |  |  |  | 36 |  |  |  | 36 |  |  |  | — |  |  |  | 36 |
Total assets |  |  | 1,249 |  |  |  | 24,748 |  |  |  | 17,148 |  |  |  | 43,145 |  |  |  | — |  |  |  | 43,145 |
Capital expenditures |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | As of and For Year Ended December 31, 2023
|  | Electronic Instruments |  | Merchant Investment |  | Corporate |  | Total |  | Adjustments and Reconciling Items |  | Consolidated
Interest revenue (a) |  | $ | — |  |  | $ | 869 |  |  | $ | 697 |  |  | $ | 1,566 |  |  | $ | — |  |  | $ | 1,566 |
Depreciation (b) |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 1 |
Amortization (b) |  |  | 21 |  |  |  | — |  |  |  | — |  |  |  | 21 |  |  |  | — |  |  |  | 21 |
Other significant non-cash items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock-based compensation (c) |  |  | — |  |  |  | — |  |  |  | 3 |  |  |  | 3 |  |  |  | — |  |  |  | 3 |
Total assets |  |  | 843 |  |  |  | 23,530 |  |  |  | 17,477 |  |  |  | 41,850 |  |  |  | — |  |  |  | 41,850 |
Capital expenditures |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
(a) | Interest revenue is included in Net investment income on the Consolidated Statements of Operations.
(b) | Depreciation and Amortization are included within the other segment expense captions, such as Manufacturing cost of sales, Engineering, or Other segment items.
(c) | Stock-based compensation is included within the Compensation expense caption.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: 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 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -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 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: 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 13: 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 14: 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 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: 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 18: 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 19: 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 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: 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 22: 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 23: 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 24: 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 25: 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
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration