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Segment Reporting: Schedule of Segment Reporting by Segment (Tables)

6 Months Ended

Jun. 30, 2024

Tables/Schedules

Schedule of Segment Reporting by Segment

	Fastener	Assembly Equipment	Unallocated Corporate	Consolidated
Three Months Ended June 30, 2024:
Net sales	$     6,909,550	$   1,149,927	0	$      8,059,477
Depreciation	291,994	29,484	540	322,018
Segment operating profit	488,412	363,920	0	852,332
Selling and administrative expenses	0	0	(743,488)	(743,488)
Interest income	0	0	44,670	44,670
Income before income taxes				$        153,514
Capital expenditures	65,005	240,573	0	305,578
Segment assets:
Accounts receivable, net	4,870,471	522,481	0	5,392,952
Inventories, net	5,378,034	1,559,660	0	6,937,694
Property, plant and equipment, net	8,932,993	1,406,272	1,019,593	11,358,858
Other assets	0	0	3,636,914	3,636,914
				$    27,326,418
Three Months Ended June 30, 2023:
Net sales	$     7,361,113	$     689,818	0	$     8,050,931
Depreciation	272,679	30,732	2,664	306,075
Segment operating profit (loss)	(1,093,218)	87,166	0	(1,006,052)
Selling and administrative expenses	0	0	(681,199)	(681,199)
Interest income	0	0	21,745	21,745
Loss before income taxes				$   (1,665,506)
Capital expenditures	406,629	0	(59,800)	346,829
Segment assets:
Accounts receivable, net	5,543,477	360,924	0	5,904,401
Inventories, net	7,940,159	1,483,084	0	9,423,243
Property, plant and equipment, net	9,759,709	1,242,033	1,008,192	12,009,934
Other assets	0	0	4,625,285	4,625,285
				$    31,962,863
Six Months Ended June 30, 2024:
Net sales	$   13,633,404	$   2,279,254	0	$   15,912,658
Depreciation	585,375	58,968	1,080	645,423
Segment operating profit	99,288	686,541	0	785,829
Selling and administrative expenses	0	0	(1,580,288)	(1,580,288)
Interest income	0	0	73,139	73,139
Loss before income taxes				$    (721,320)
Capital expenditures	119,227	279,436	0	398,663
Six Months Ended June 30, 2023:
Net sales	$   15,217,926	$   1,562,730	0	$   16,780,656
Depreciation	545,315	61,464	5,328	612,107
Segment operating profit (loss)	(1,521,719)	276,481	0	(1,245,238)
Selling and administrative expenses	0	0	(1,219,736)	(1,219,736)
Interest income	0	0	62,331	62,331
Loss before income taxes				$    (2,402,643)
Capital expenditures	742,695	0	17,553	760,248

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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X

- References

No definition available.

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