Note 4 - Segment Information

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

4. Segment Information

We report our results of operations consistent with the manner in which our chief operating decision makers review the business to assess performance and allocate resources.

Prior to 2023, we reported our results as a single reporting segment.

During 2023, our chief operating decision makers modified their view of our business and how they allocate resources and assess performance. Prior period presentation has been revised to conform to our new structure. 

The Company has now identified two reportable business segments: Electronic Instruments and Merchant Investment. A brief description of each segment is below:

The Electronic Instruments segment includes all products manufactured and sold by PTF.

The Merchant Investment segment includes all activity produced by Lynch Capital International, LLC ("Lynch Capital").

The Company includes in Corporate the following corporate and business activities:

• corporate level assets and financial obligations such as cash and equivalents invested in highly liquid U.S. Treasury money market funds and other marketable securities;

• other items not allocated to or directly related to the Company's operating segments, including items such as deferred tax balances; and

• intercompany eliminations.

Beginning in 2023, the Electronic Instruments and Merchant Investment segments are allocated overhead expenses based on total assets.

The following tables present LGL Group's continuing operations by segment:

	Year Ended December 31, 2023
	Electronic Instruments		Merchant Investment		Corporate			Consolidated
Revenues:
Net sales	$	1,728	$	—	$	—		$	1,728
Net investment income		—		869		697			1,566
Net gains		—		—		384			384
Total revenues		1,728		869		1,081			3,678
Expenses:
Manufacturing cost of sales		796		—		—			796
Engineering, selling and administrative		780		216		1,240			2,236
Total expenses		1,576		216		1,240			3,032
Income (loss) from continuing operations before income taxes		152		653		(159	)		646
Income tax expense (benefit)		—		—		301			301
Income (loss) from continuing operations		152		653		(460	)		345
Income (loss) from discontinued operations		—		—		(28	)		(28	)
Net income (loss)		152		653		(488	)		317
Less: Net income attributable to non-controlling interests		—		48		—			48
Net income (loss) attributable to LGL Group common stockholders	$	152	$	605	$	(488	)	$	269

	Year Ended December 31, 2022
	Electronic Instruments		Merchant Investment		Corporate			Consolidated
Revenues:
Net sales	$	1,655	$	—	$	—		$	1,655
Net investment income		—		—		413			413
Net losses		—		—		(4,747	)		(4,747	)
Total revenues		1,655		—		(4,334	)		(2,679	)
Expenses:
Manufacturing cost of sales		837		—		—			837
Engineering, selling and administrative		715		—		2,175			2,890
Total expenses		1,552		—		2,175			3,727
Income (loss) from continuing operations before income taxes		103		—		(6,509	)		(6,406	)
Income tax benefit		—		—		(1,529	)		(1,529	)
Income (loss) from continuing operations		103		—		(4,980	)		(4,877	)
Income from discontinued operations		—		—		1,885			1,885
Net income (loss)		103		—		(3,095	)		(2,992	)
Less: Net income attributable to non-controlling interests		—		—		—			—
Net income (loss) attributable to LGL Group common stockholders	$	103	$	—	$	(3,095	)	$	(2,992	)

The following table presents LGL Group's year-end identifiable assets and capital expenditures by segment:

	Year-End Identifiable Assets				Capital Expenditures
	2023		2022		2023		2022
Electronic Instruments	$	843	$	1,118	$	—	$	—
Merchant Investment		23,530		—		—		—
Corporate		17,477		38,667		—		—
Total	$	41,850	$	39,785	$	—	$	—