The Company reports financial information based on the organizational structure used by the Company’s chief operating decision makers for making operating and investment decisions and for assessing performance. The Company’s reportable business segments consist of: (1) United States; (2) Canada; and (3) Europe. As described below, the activities of the Company’s Asian operations are closely linked to those of the U.S. operations; accordingly, the Company’s chief operating decision makers review the financial results of both on a consolidated basis, and the results of the Asian operations have been aggregated with the results of the United States operations to form one reportable segment called the “United States segment” or “U.S. segment”. Each reportable segment derives its revenue from the sales of cutting devices, measuring instruments and safety products for school, office, home, hardware, sporting and industrial use.

Domestic sales orders are filled primarily from the Company’s distribution centers in North Carolina, Washington, Massachusetts, Tennessee and California. The Company is responsible for the costs of shipping, insurance, customs clearance, duties, storage and distribution related to such products. Orders filled from the Company’s inventory are generally for less than container-sized lots.

Direct import sales are products sold by the Company’s Asian subsidiary, directly to major U.S. retailers who take ownership of the products in Asia. These sales are completed by delivering product to the customers’ common carriers at the shipping points in Asia. Direct import sales are made in larger quantities than domestic sales, typically full containers. Direct import sales represented approximately 14% and 12% of the Company’s total net sales in 2019 and 2018, respectively.

The Chief Operating Decision Maker evaluates the performance of each operating segment based on segment revenues and operating income. Segment revenues are defined as total revenues, including both external customer revenue and inter-segment revenue. Segment operating earnings are defined as segment revenues, less cost of goods sold and operating expenses. Identifiable assets by segment are those assets used in the respective reportable segment’s operations. Inter-segment amounts are eliminated to arrive at consolidated financial results.

The following table sets forth certain financial data by segment for the fiscal years ended December 31, 2019 and 2018:

Year Ended December 31, 2019:
	United States		Canada		Europe		Consolidated
Net sales	$	125,717	$	6,678	$	10,062	$	142,457
Operating income		7,199		771		459		8,429
Assets		98,577		6,168		6,003		110,749
Additions to property, plant and equipment		1,646		2		32		1,680
Depreciation and amortization		3,347		16		70		3,433

Year Ended December 31, 2018:
	United States		Canada		Europe		Consolidated
Net sales	$	120,993	$	7,040	$	9,288	$	137,321
Operating income		6,103		884		470		7,457
Assets		99,721		3,839		5,918		109,478
Additions to property, plant and equipment		2,705		83		63		2,851
Depreciation and amortization		3,153		9		67		3,229

The following is a reconciliation of segment operating income to consolidated income before taxes:

	2019		2018
Total operating income	$	8,429	$	7,457
Interest expense, net		1,789		1,858
Other expense		97		68
Consolidated income before taxes	$	6,543	$	5,531

The table below presents revenue by geographic area. Revenues are attributed to countries based on location of the customer.

Revenues	2019		2018
United States	$	124,059	$	119,573
International:
Canada		6,678		7,040
Europe		10,062		9,288
Other		1,658		1,420
Total International	$	18,398	$	17,748
Total Revenues	$	142,457	$	137,321