Segment Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company's operating segments, Lawson and Bolt, also represent its reportable segments because of differences in the businesses' financial characteristics and the methods they employ to deliver product to customers. The results of the Company's 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,
	2020		2019
Net sales
Lawson	$	312,803	$	329,367
Bolt	38,788		41,418
Consolidated total	$	351,591	$	370,785
Gross profit
Lawson	$	171,258	$	181,567
Bolt	15,280		15,787
Consolidated total	$	186,538	$	197,354
Operating Income
Lawson	$	17,715	$	6,483
Bolt	2,835		2,583
Consolidated total	20,550		9,066
Interest expense	(654)		(603)
Other income, net	889		1,211
Income before income taxes	$	20,785	$	9,674
Capital expenditures
Lawson	$	1,529	$	1,522
Bolt	158		506
Consolidated total	$	1,687	$	2,028
Depreciation and amortization
Lawson	$	5,343	$	4,757
Bolt	1,358		1,136
Consolidated total	$	6,701	$	5,893
Total assets
Lawson	$	221,490	$	168,803
Bolt	43,533		44,174
Investment in Subsidiary	(8,719)		(8,548)
Consolidated total	$	256,304	$	204,429

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

	(Dollars in Thousands)
	Year Ended December 31,
	2020		2019
Net sales (1)
United States	$	283,261	$	295,675
Canada	68,330		75,110
Consolidated total	$	351,591	$	370,785
Long-lived assets (2)
United States	$	44,395	$	25,478
Canada	34,180		35,849
Consolidated total	$	78,575	$	61,327

(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.