SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2022

SEGMENT INFORMATION

SEGMENT INFORMATION

18.    SEGMENT INFORMATION

The Company operates in one segment for the manufacture and marketing of controlled motion products for end user and OEM applications. The Company’s chief operating decision maker is the Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services in which the entity holds material assets and reports revenue.

Revenues for the three months ended June 30, 2022 and 2021 was comprised of 58% and 55% shipped to U.S. customers, respectively. For the six months ended June 30, 2022 and 2021, revenues was comprised of 57% and 53% shipped to U.S. customers, respectively. The remainder of revenues for all periods were shipped to foreign customers, primarily in Europe, Canada and Asia-Pacific.

Identifiable foreign fixed assets were $33,246 and $32,807 as of June 30, 2022 and December 31, 2021, respectively. Identifiable assets outside of the U.S. are attributable to Europe, China, Mexico and Asia-Pacific.

For the three months ended June 30, 2022 and 2021, one customer accounted for 11% and 16% of revenues, respectively. For the six months ended June 30, 2022 and 2021, one customer accounted for 12% and 16% of revenues, respectively. As of June 30, 2022 and December 31, 2021 this customer represented 11% and 10% of trade receivables, respectively.