Segment Information

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Segment Reporting

Information

The Company operates in two separate reportable segments because of differences in the businesses financial characteristics and the methods they employ to deliver product to customers. The operating segments are reviewed by the Company’s chief operating decision maker responsible for reviewing operating performance and allocating resources. The Lawson segment primarily relies on its large network of sales representatives to visit the customer at the customers' location and produce sales orders for product that is then shipped to the customer and also provides VMI services. The Bolt segment primarily sells product to customers when the customers visit one of Bolt's 14 branch locations and the product is delivered to the customers at the point of sale. The Bolt segment total assets include the value of the acquired intangibles and the related amortization within its operating income.

Financial information for the Company's reportable segments follows:

	(Dollars in thousands)
	Year Ended December 31,
	2019			2018
Net sales
Lawson	$	329,367		$	313,095
Bolt	41,418			36,542
Consolidated total	$	370,785		$	349,637
Gross profit
Lawson	$	181,567		$	175,517
Bolt	15,787			14,023
Consolidated total	$	197,354		$	189,540
Operating Income
Lawson	$	6,483		$	7,500
Bolt	2,583			1,710
Consolidated total	9,066			9,210
Interest expense	(603		)	(1,009		)
Other income (expense), net	1,211			(1,338		)
Income before income taxes	$	9,674		$	6,863
Capital expenditures
Lawson	$	1,522		$	1,907
Bolt	506			617
Consolidated total	$	2,028		$	2,524
Depreciation and amortization
Lawson	$	4,757		$	6,008
Bolt	1,136			847
Consolidated total	$	5,893		$	6,855
Total assets
Lawson	$	168,803		$	169,216
Bolt	44,174			36,067
Investment in Subsidiary	(8,548		)	(8,141		)
Consolidated total	$	204,429		$	197,142

Financial information related to the Company’s continuing operations by geographic area follows:

	(Dollars in Thousands)
	Year Ended December 31,
	2019		2018
Net sales (1)
United States	$	295,675	$	279,917
Canada	75,110		69,720
Consolidated total	$	370,785	$	349,637
Long-lived assets (2)
United States	$	25,478	$	25,539
Canada	35,849		31,507
Consolidated total	$	61,327	$	57,046

(1)    Net sales are attributed to countries based on the location of customers.

(2)    Long-lived assets primarily consist of property, plant and equipment, goodwill, intangibles, right of use assets and other assets.