Business Segment

3 Months Ended

Mar. 31, 2020

4. Business Segment

The Company has identified one reportable segment based on the distinctness of the Company’s activities and products: lime and limestone operations. All operations are in the United States. In evaluating the operating results of the Company, management primarily reviews revenues, gross profit and operating profit from the lime and limestone operations. Operating profit from its lime and limestone operations includes all of the Company’s selling, general and administrative costs. The Company does not allocate interest income and expense and other expense to its lime and limestone operations.

During 2019, the Company’s natural gas interests did not reach any of the quantitative thresholds for a reportable segment, and the Company does not expect the results from its natural gas interests to be of significance in future periods. The revenues, gross profit and operating profit from the Company’s natural gas interests are included in Other for the Company’s reportable segment disclosures. Other identifiable assets include assets related to its natural gas interests, unallocated corporate assets and cash items. Segment disclosures for the three months ended March 31, 2019 have been recast to be consistent with the presentation for the three months ended March 31, 2020.

The following table sets forth operating results and certain other financial data for the Company’s lime and limestone operations segment and other (in thousands):


	Three Months Ended March 31,
Revenues	2020			2019
Lime and limestone operations	$	38,214		$	37,465
Other		226			334
Total revenues	$	38,440		$	37,799
Depreciation, depletion and amortization
Lime and limestone operations	$	4,413		$	3,929
Other		188			139
Total depreciation, depletion and amortization	$	4,601		$	4,068
Gross profit (loss)
Lime and limestone operations	$	10,039		$	8,686
Other		(162)			7
Total gross profit	$	9,877		$	8,693
Operating profit (loss)
Lime and limestone operations	$	6,820		$	6,013
Other		(162)			7
Total operating profit	$	6,658		$	6,020
Identifiable assets, at period end
Lime and limestone operations	$	186,702	$		178,346
Other		65,165			76,723
Total identifiable assets	$	251,867		$	255,069
Capital expenditures
Lime and limestone operations	$	6,106		$	5,684
Other		—			—
Total capital expenditures	$	6,106		$	5,684