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Note 18 - Segment Information | 9 Months Ended
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Aug. 31, 2023
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
| 18) | Segment Information
As of August 31, 2023, the Company has two reportable segments: Agricultural Products and Modular Buildings. The Agricultural Products segment manufactures and sells farm equipment and related replacement parts under the Art’s-Way Manufacturing label. The Modular Buildings segment manufactures and installs modular buildings for various uses, commonly animal containment and research laboratories. The accounting policies applied to determine the segment information are the same as those described in the summary of significant accounting policies. Management evaluates the performance of each segment based on profit or loss from operations before income taxes, exclusive of nonrecurring gains and losses. Approximate financial information with respect to the reportable segments is as follows.
|  | Three Months Ended August 31, 2023 |
|  | Agricultural Products |  |  | Modular Buildings |  |  | Consolidated (Continuing Operations) |
Revenue from external customers |  | $ | 5,530,000 |  |  | $ | 2,587,000 |  |  | $ | 8,117,000 |
Gross profit |  |  | 1,437,000 |  |  |  | 864,000 |  |  |  | 2,301,000 |
Income (loss) from operations |  |  | (108,000 | ) |  |  | 576,000 |  |  |  | 468,000 |
Income (loss) before tax |  |  | (264,000 | ) |  |  | 569,000 |  |  |  | 305,000 |
Total Assets |  |  | 20,515,000 |  |  |  | 3,473,000 |  |  |  | 23,988,000 |
Capital expenditures |  |  | - |  |  |  | 1,000 |  |  |  | 1,000 |
Depreciation & Amortization |  | $ | 126,000 |  |  | $ | 65,000 |  |  | $ | 191,000 |
|  | Three Months Ended August 31, 2022 |
|  | Agricultural Products |  |  | Modular Buildings |  |  | Consolidated (Continuing Operations) |
Revenue from external customers |  | $ | 6,345,000 |  |  | $ | 1,131,000 |  |  | $ | 7,476,000 |
Gross profit |  |  | 1,887,000 |  |  |  | 73,000 |  |  |  | 1,960,000 |
Income (loss) from operations |  |  | 676,000 |  |  |  | (176,000 | ) |  |  | 500,000 |
Income (loss) before tax |  |  | 566,000 |  |  |  | (181,000 | ) |  |  | 385,000 |
Total Assets |  |  | 18,328,000 |  |  |  | 3,608,000 |  |  |  | 21,936,000 |
Capital expenditures |  |  | 506,000 |  |  |  | 118,000 |  |  |  | 624,000 |
Depreciation & Amortization |  | $ | 124,000 |  |  | $ | 33,000 |  |  | $ | 157,000 |
|  | Nine Months Ended August 31, 2023 |
|  | Agricultural Products |  |  | Modular Buildings |  |  | Consolidated (Continuing Operations) |
Revenue from external customers |  | $ | 17,343,000 |  |  | $ | 6,086,000 |  |  | $ | 23,429,000 |
Gross profit |  |  | 5,100,000 |  |  |  | 1,571,000 |  |  |  | 6,671,000 |
Income (loss) from operations |  |  | 710,000 |  |  |  | 735,000 |  |  |  | 1,445,000 |
Income (loss) before tax |  |  | 340,000 |  |  |  | 826,000 |  |  |  | 1,166,000 |
Total Assets |  |  | 20,515,000 |  |  |  | 3,473,000 |  |  |  | 23,988,000 |
Capital expenditures |  |  | 447,000 |  |  |  | 122,000 |  |  |  | 569,000 |
Depreciation & Amortization |  | $ | 376,000 |  |  | $ | 223,000 |  |  | $ | 599,000 |
|  | Nine Months Ended August 31, 2022 |
|  | Agricultural Products |  |  | Modular Buildings |  |  | Consolidated (Continuing Operations) |
Revenue from external customers |  | $ | 15,823,000 |  |  | $ | 3,208,000 |  |  | $ | 19,031,000 |
Gross profit |  |  | 4,848,000 |  |  |  | 306,000 |  |  |  | 5,154,000 |
Income (loss) from operations |  |  | 994,000 |  |  |  | (484,000 | ) |  |  | 510,000 |
Income (loss) before tax |  |  | 746,000 |  |  |  | (504,000 | ) |  |  | 242,000 |
Total Assets |  |  | 18,328,000 |  |  |  | 3,608,000 |  |  |  | 21,936,000 |
Capital expenditures |  |  | 981,000 |  |  |  | 142,000 |  |  |  | 1,123,000 |
Depreciation & Amortization |  | $ | 342,000 |  |  | $ | 101,000 |  |  | $ | 443,000 |
*The consolidated total in the tables is a sum of segment figures and may not tie to actual figures in the condensed consolidated financial statements due to rounding.

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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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