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Note 10 - Segment Information
 9 Months Ended
Sep. 30, 2021
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

10.

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

  

Nine Months Ended

 
  

September 30,

  

September 30,

 
  

2021

  

2020

  

2021

  

2020

 

Revenue:

                

United States

 $28,696  $27,041  $79,623  $72,453 

International

  38,727   31,824   116,073   98,704 

Total revenue

 $67,423  $58,865  $195,696  $171,157 
                 

Operating income:

                

United States

 $1,085  $1,299  $2,176  $1,924 

International

  1,590   2,042   5,106   4,859 

Total operating income

 $2,675  $3,341  $7,282  $6,783 
                 

Interest expense (income):

                

United States

 $144  $158  $434  $435 

International

  (20)  11   (32)  47 

Total interest expense

 $124  $169  $402  $482 
                 

Other (income), net:

                

United States

  (1)  (0)  (3)  (2)

International

  (136)  (143)  (205)  (199)

Total other (income), net

 $(137) $(143) $(208) $(201)
                 

Income before income tax expense:

                

United States

 $940  $1,141  $1,745  $1,491 

International

  1,748   2,174   5,343   5,011 

Total income before income tax expense

 $2,688  $3,315  $7,088  $6,502 
                 

Income tax expense:

                

United States

 $55  $436  $232  $637 

International

  494   434   1,804   1,193 

Total income tax expense

 $549  $870  $2,036  $1,830 

 

 

Net income:

                

United States

 $885  $705  $1,513  $854 

International

  1,254   1,740   3,539   3,818 

Total net income

 $2,139  $2,445  $5,052  $4,672 
                 

Net (income) attributable to non-controlling interest:

                

United States

 $(124) $(299) $(206) $(882)

International

  (835)  (1,002)  (2,235)  (2,453)

Total net (income) attributable to non-controlling interest

 $(959) $(1,301) $(2,441) $(3,335)
                 

Net income (loss) attributable to SPAR Group, Inc.:

                

United States

 $761  $406  $1,307  $(28)

International

  419   738   1,304   1,365 

Total net income attributable to SPAR Group, Inc.

 $1,180  $1,144  $2,611  $1,337 
                 

Depreciation and amortization:

                

United States

 $385  $399  $1,160  $1,231 

International

  124   131   413   378 

Total depreciation and amortization

 $509  $530  $1,573  $1,609 
                 

Capital expenditures:

                

United States

 $438  $417  $1,076  $1,085 

International

  102   46   356   163 

Total capital expenditures

 $540  $463  $1,432  $1,248 

 

Note: There were no inter-company sales for the three and nine months ended September 30, 2021 or 2020.

 

  

September 30,

  

December 31,

 
  

2021

  

2020

 

Assets:

        

United States

 $42,302  $31,675 

International

  55,409   52,354 

Total assets

 $97,711  $84,029 

 

  

September 30,

  

December 31,

 
  

2021

  

2020

 

Long lived assets:

        

United States

 $4,611  $4,809 

International

  2,486   2,487 

Total long lived assets

 $7,097  $7,296 

 

 

Geographic Data (in thousands)

 

  

Three Months Ended September 30,

  

Nine Months Ended September 30,

 
  

2021

  

2020

  

2021

  

2020

 
      

% of

      

% of

      

% of

      

% of

 
      

consolidated

      

consolidated

      

consolidated

      

consolidated

 

International revenue:

     

net revenue

      

net revenue

      

net revenue

      

net revenue

 

Brazil

 $14,913   22.1% $11,252   19.1% $40,810   20.9% $37,355   21.8%

South Africa

  9,653   14.3   6,325   10.7   25,899   13.2   19,327   11.3 

Mexico

  4,307   6.4   5,006   8.5   19,929   10.2   15,673   9.2 

China

  3,735   5.5   3,019   5.1   10,193   5.2   8,339   4.9 

Japan

  2,348   3.5   2,335   4.0   7,336   3.7   6,766   4.0 

Canada

  1,933   2.9   2,128   3.6   5,851   3.0   6,335   3.7 

India

  1,650   2.4   1,571   2.7   5,234   2.7   4,291   2.5 

Australia

  188   0.3   188   0.3   821   0.4   618   0.4 

Total international revenue

 $38,727   57.4% $31,824   54.0% $116,073   59.3% $98,704   57.8%