Note 3 - Segment Information

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

3. Segment Information

The Company has identified two reportable business segments: Electronic Instruments and Merchant Investment. These segments are consistent with the manner in which the chief operating decision maker reviews the business to assess performance and allocate resources. 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 cash 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.

The Electronic Instruments and Merchant Investment segments are allocated overhead expenses based on each segment's assets as a percentage of total assets.

The following tables presents LGL Group's operations by segment:

	Three Months Ended September 30, 2024
	Electronic Instruments		Merchant Investment		Corporate			Consolidated
Revenues:
Net sales	$	650	$	—	$	—		$	650
Net investment income		—		318		213			531
Net (losses) gains		—		—		(2	)		(2	)
Total revenues		650		318		211			1,179
Expenses:
Manufacturing cost of sales		368		—		—			368
Engineering, selling and administrative		238		90		345			673
Total expenses		606		90		345			1,041
Income (loss) from continuing operations before income taxes		44		228		(134	)		138
Income tax expense		—		—		48			48
Net income (loss) from continuing operations		44		228		(182	)		90
Income (loss) from discontinued operations, net of tax		—		—		—			—
Net income (loss)		44		228		(182	)		90
Less: Net income attributable to non-controlling interests		—		18		—			18
Net income (loss) attributable to LGL Group common stockholders	$	44	$	210	$	(182	)	$	72

	Three Months Ended September 30, 2023
	Electronic Instruments		Merchant Investment		Corporate			Consolidated
Revenues:
Net sales	$	438	$	—	$	—		$	438
Net investment income		—		287		257			544
Net (losses) gains		—		—		(4	)		(4	)
Total revenues		438		287		253			978
Expenses:
Manufacturing cost of sales		195		—		—			195
Engineering, selling and administrative		173		64		347			584
Total expenses		368		64		347			779
Income (loss) from continuing operations before income taxes		70		223		(94	)		199
Income tax expense (benefit)		—		—		69			69
Net income (loss) from continuing operations		70		223		(163	)		130
Income (loss) from discontinued operations, net of tax		—		—		—			—
Net income (loss)		70		223		(163	)		130
Less: Net income attributable to non-controlling interests		—		22		—			22
Net income (loss) attributable to LGL Group common stockholders	$	70	$	201	$	(163	)	$	108

	Nine Months Ended September 30, 2024
	Electronic Instruments		Merchant Investment		Corporate			Consolidated
Revenues:
Net sales	$	1,573	$	—	$	—		$	1,573
Net investment income		—		922		646			1,568
Net (losses) gains		—		—		(6	)		(6	)
Total revenues		1,573		922		640			3,135
Expenses:
Manufacturing cost of sales		786		—		—			786
Engineering, selling and administrative		667		217		1,011			1,895
Total expenses		1,453		217		1,011			2,681
Income (loss) from continuing operations before income taxes		120		705		(371	)		454
Income tax expense		—		—		160			160
Net income (loss) from continuing operations		120		705		(531	)		294
Income (loss) from discontinued operations, net of tax		—		—		—			—
Net income (loss)		120		705		(531	)		294
Less: Net income attributable to non-controlling interests		—		64		—			64
Net income (loss) attributable to LGL Group common stockholders	$	120	$	641	$	(531	)	$	230

	Nine Months Ended September 30, 2023
	Electronic Instruments		Merchant Investment		Corporate			Consolidated
Revenues:
Net sales	$	1,282	$	—	$	—		$	1,282
Net investment income		—		542		475			1,017
Net (losses) gains		—		—		384			384
Total revenues		1,282		542		859			2,683
Expenses:
Manufacturing cost of sales		595		—		—			595
Engineering, selling and administrative		523		152		1,096			1,771
Total expenses		1,118		152		1,096			2,366
Income (loss) from continuing operations before income taxes		164		390		(237	)		317
Income tax expense		—		—		132			132
Net income (loss) from continuing operations		164		390		(369	)		185
Income (loss) from discontinued operations, net of tax		—		—		(28	)		(28	)
Net income (loss)		164		390		(397	)		157
Less: Net income attributable to non-controlling interests		—		22		—			22
Net income (loss) attributable to LGL Group common stockholders	$	164	$	368	$	(397	)	$	135

The following table presents LGL Group's identifiable assets by segment:

	September 30, 2024		December 31, 2023
Electronic Instruments	$	839	$	843
Merchant Investment		24,439		23,530
Corporate		17,207		17,477
Total	$	42,485	$	41,850

The Company did not have any capital expenditures as of September 30, 2024 or December 31, 2023.