SEGMENT INFORMATION

9 Months Ended

Sep. 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 September 30, 2022 and 2021 was comprised of 59% and 56% shipped to U.S. customers, respectively. For the nine months ended September 30, 2022 and 2021, revenues were comprised of 58% 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 $32,792 and $32,807 as of September 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 September 30, 2022 and 2021, one customer accounted for 11% and 16% of revenues, respectively. For the nine months ended September 30, 2022 and 2021, one customer accounted for 12% and 16% of revenues, respectively. As of September 30, 2022 and December 31, 2021 this customer represented 9% and 10% of trade receivables, respectively.