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Note 9 - Segment Information | 6 Months Ended
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Jun. 30, 2021
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
9. | Segment Information
The Company reports net revenues from operating income by reportable segment. Reportable segments are components of the Company for which separate financial information is available that is evaluated on a regular basis by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company provides similar merchandising, business technology and marketing services throughout the world, operating within two reportable segments, its Domestic division and its international division. The Company uses those divisions to improve its administration and operational and strategic focuses, and it tracks and reports certain financial information separately for each of those divisions. The Company measures the performance of its Domestic and International divisions and subsidiaries using the same metrics. The primary measurement utilized by management is operating profits, historically the key indicator of long-term growth and profitability, as the Company is focused on reinvesting the operating profits of each of its international subsidiaries back into its local markets in an effort to improve market share and continued expansion efforts. The accounting policies of each of the reportable segments are the same as those described in the Summary of Significant Accounting Policies. Management evaluates performance as follows (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 27,252 |  |  | $ | 22,123 |  |  | $ | 50,927 |  |  | $ | 45,412 |
International |  |  | 39,924 |  |  |  | 28,821 |  |  |  | 77,346 |  |  |  | 66,880 |
Total revenue |  | $ | 67,176 |  |  | $ | 50,944 |  |  | $ | 128,273 |  |  | $ | 112,292 |
Operating income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 332 |  |  | $ | 315 |  |  | $ | 1,090 |  |  | $ | 623 |
International |  |  | 1,555 |  |  |  | 1,648 |  |  |  | 3,516 |  |  |  | 2,817 |
Total operating income |  | $ | 1,887 |  |  | $ | 1,963 |  |  | $ | 4,606 |  |  | $ | 3,440 |
Interest expense (income): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 151 |  |  | $ | 144 |  |  | $ | 289 |  |  | $ | 276 |
International |  |  | (22 | ) |  |  | (60 | ) |  |  | (12 | ) |  |  | 36 |
Total interest expense |  | $ | 129 |  |  | $ | 84 |  |  | $ | 277 |  |  | $ | 312 |
Other expense (income), net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  |  | (1 | ) |  |  | (1 | ) |  |  | (3 | ) |  |  | (1 | )
International |  |  | 6 |  |  |  | (49 | ) |  |  | (67 | ) |  |  | (57 | )
Total other expense (income), net |  | $ | 5 |  |  | $ | (50 | ) |  | $ | (70 | ) |  | $ | (58 | )
Income before income tax expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 182 |  |  | $ | 172 |  |  | $ | 804 |  |  | $ | 348 |
International |  |  | 1,571 |  |  |  | 1,757 |  |  |  | 3,595 |  |  |  | 2,838 |
Total income before income tax expense |  | $ | 1,753 |  |  | $ | 1,929 |  |  | $ | 4,399 |  |  | $ | 3,186 |
Income tax expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 7 |  |  | $ | 124 |  |  | $ | 176 |  |  | $ | 199 |
International |  |  | 614 |  |  |  | 500 |  |  |  | 1,310 |  |  |  | 760 |
Total income tax expense |  | $ | 621 |  |  | $ | 624 |  |  | $ | 1,486 |  |  | $ | 959 |
Net income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 175 |  |  | $ | 48 |  |  | $ | 628 |  |  | $ | 149 |
International |  |  | 957 |  |  |  | 1,257 |  |  |  | 2,285 |  |  |  | 2,078 |
Total net income |  | $ | 1,132 |  |  | $ | 1,305 |  |  | $ | 2,913 |  |  | $ | 2,227 |
Net (income) attributable to non-controlling interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | (2 | ) |  | $ | (519 | ) |  | $ | (82 | ) |  | $ | (583 | )
International |  |  | (616 | ) |  |  | (889 | ) |  |  | (1,400 | ) |  |  | (1,451 | )
Total net (income) attributable to non-controlling interest |  | $ | (618 | ) |  | $ | (1,408 | ) |  | $ | (1,482 | ) |  | $ | (2,034 | )
Net income (loss) attributable to SPAR Group, Inc.: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 173 |  |  | $ | (471 | ) |  | $ | 546 |  |  | $ | (434 | )
International |  |  | 341 |  |  |  | 368 |  |  |  | 885 |  |  |  | 627 |
Total net income (loss) attributable to SPAR Group, Inc. |  | $ | 514 |  |  | $ | (103 | ) |  | $ | 1,431 |  |  | $ | 193 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 385 |  |  | $ | 419 |  |  | $ | 775 |  |  | $ | 832 |
International |  |  | 149 |  |  |  | 120 |  |  |  | 289 |  |  |  | 247 |
Total depreciation and amortization |  | $ | 534 |  |  | $ | 539 |  |  | $ | 1,064 |  |  | $ | 1,079 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 352 |  |  | $ | 288 |  |  | $ | 637 |  |  | $ | 669 |
International |  |  | 207 |  |  |  | 156 |  |  |  | 253 |  |  |  | 117 |
Total capital expenditures |  | $ | 559 |  |  | $ | 444 |  |  | $ | 890 |  |  | $ | 786 |
Note: There were no inter-company sales for the three and six months ended June 30, 2021 or 2020.
|  | June 30, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
Assets: |  |  |  |  |  |  |  |
United States |  | $ | 38,489 |  |  | $ | 31,675 |
International |  |  | 56,491 |  |  |  | 52,354 |
Total assets |  | $ | 94,980 |  |  | $ | 84,029 |
|  | June 30, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
Long lived assets: |  |  |  |  |  |  |  |
United States |  | $ | 4,553 |  |  | $ | 4,809 |
International |  |  | 1,984 |  |  |  | 2,487 |
Total long lived assets |  | $ | 6,537 |  |  | $ | 7,296 |
Geographic Data (in thousands)
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
|  |  |  |  |  | % of |  |  |  |  |  |  | % of |  |  |  |  |  |  | % of |  |  |  |  |  |  | % of |
|  |  |  |  |  | consolidated |  |  |  |  |  |  | consolidated |  |  |  |  |  |  | consolidated |  |  |  |  |  |  | consolidated |
International revenue: |  |  |  |  |  | net revenue |  |  |  |  |  |  | net revenue |  |  |  |  |  |  | net revenue |  |  |  |  |  |  | net revenue |
Brazil |  | $ | 13,596 |  |  |  | 20.2 | % |  | $ | 10,539 |  |  |  | 20.7 | % |  | $ | 25,897 |  |  |  | 20.2 | % |  | $ | 26,103 |  |  |  | 23.2 | %
South Africa |  |  | 8,524 |  |  |  | 12.7 |  |  |  | 6,088 |  |  |  | 12.0 |  |  |  | 16,246 |  |  |  | 12.7 |  |  |  | 13,002 |  |  |  | 11.6 |
Mexico |  |  | 8,363 |  |  |  | 12.4 |  |  |  | 4,820 |  |  |  | 9.5 |  |  |  | 15,622 |  |  |  | 12.2 |  |  |  | 10,667 |  |  |  | 9.5 |
China |  |  | 3,195 |  |  |  | 4.8 |  |  |  | 2,756 |  |  |  | 5.4 |  |  |  | 6,458 |  |  |  | 5.0 |  |  |  | 5,320 |  |  |  | 4.7 |
Japan |  |  | 2,538 |  |  |  | 3.8 |  |  |  | 1,915 |  |  |  | 3.8 |  |  |  | 4,988 |  |  |  | 3.9 |  |  |  | 4,207 |  |  |  | 3.7 |
Canada |  |  | 2,040 |  |  |  | 3.0 |  |  |  | 1,004 |  |  |  | 2.0 |  |  |  | 3,918 |  |  |  | 3.1 |  |  |  | 2,720 |  |  |  | 2.4 |
India |  |  | 1,358 |  |  |  | 2.0 |  |  |  | 1,649 |  |  |  | 3.2 |  |  |  | 3,584 |  |  |  | 2.8 |  |  |  | 4,431 |  |  |  | 3.9 |
Australia |  |  | 310 |  |  |  | 0.5 |  |  |  | 50 |  |  |  | 0.1 |  |  |  | 633 |  |  |  | 0.5 |  |  |  | 430 |  |  |  | 0.4 |
Total international revenue |  | $ | 39,924 |  |  |  | 59.4 | % |  | $ | 28,821 |  |  |  | 56.7 | % |  | $ | 77,346 |  |  |  | 60.4 | % |  | $ | 66,880 |  |  |  | 59.4 | %

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