Note 11 - Operating Segment and Geographic Information

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

Note 11 —    Operating Segment and Geographic Information

The following table presents certain operating segment information.

In Thousands	2023			2022			2021
Sporting Goods
Net sales	$	263,566		$	313,757		$	313,612
Operating income		17,496			25,925			31,534
Interest expense		5,349			3,780			1,510
Provision for taxes		3,411			6,106			8,295
Net income		8,767			16,117			21,892
Identifiable assets		246,875			286,417			241,547
Depreciation & amortization		5,671			6,063			4,835
Capital expenditures		2,085			2,111			9,696
All Other
Net sales		--			--			--
Operating income		315			390			362
Interest expense (income)		--			--			--
Benefit for taxes		(747	)		(1,481	)		(2,151	)
Net income		1,062			1,872			2,513
Identifiable assets		6,130			12,301			10,251
Depreciation & amortization		--			--			--
Capital expenditures		--			--			--
Total
Net sales		263,566			313,757			313,612
Operating income		17,811			26,315			31,896
Interest expense		5,349			3,780			1,510
Provision for taxes		2,664			4,625			6,144
Net income		9,829			17,989			24,405
Identifiable assets		253,005			298,718			251,798
Depreciation & amortization		5,671			6,063			4,835
Capital expenditures		2,085			2,111			9,696

There were no changes to the composition of segments in 2023. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies.

The Sporting Goods segment consists of home entertainment products such as table tennis tables and accessories; basketball goals; pickleball; pool tables and accessories; outdoor playsets; water sports; soccer and hockey tables; archery equipment and accessories; and fitness, arcade and darting products. Customers include retailers, dealers and wholesalers located throughout North America, Europe and the rest of the world.

All Other consist of general and administrative expenses not specifically related to the operating business segment.

The Company had net assets of $5.3 million and $14.8 million located in Mexico as of December 31, 2023 and December 31, 2022, respectively.

During 2023, 2022 and 2021, the Company had one customer that accounted for approximately 20%, 23% and 21%, respectively of the Company’s revenues. During 2023, 2022 and 2021 the Company had another customer which accounted for approximately 11%, 12% and 11%, respectively, of the Company’s revenues.

As of December 31, 2023 and December 31, 2022, the Company had approximately 29% and 28%, respectively, of its total accounts receivable with one customer.

As of December 31, 2023, approximately 29 employees of the Company's labor force were covered by a collective bargaining agreement that expires on January 31, 2025.

Raw materials for Escalade’s various product lines consist of wood, tempered glass, particle board, standard grades of steel and steel tubing, aluminum, engineering plastics, fiberglass and packaging materials. Escalade relies upon domestic, Mexico, Brazil, and Asian suppliers for these materials and upon various Asian manufacturers for many of its products.

Net sales are attributed to country based on location of customer. Net sales by geographic region/country were as follows:

In Thousands	2023		2022		2021
North America	$	257,228	$	307,318	$	309,211
Europe		2,856		3,036		2,153
Other		3,482		3,403		2,248
	$	263,566	$	313,757	$	313,612