Business Segment Information
|9 Months Ended|
Sep. 30, 2019
|Segment Reporting [Abstract]|
|Business Segment Information||
Note 13 – Business Segment Information
The Company is currently involved in two segments, electrical construction and real estate development. There were no material amounts of sales or transfers between segments and no material amounts of foreign sales. Any inter-segment sales have been eliminated. Certain amounts associated with deferred income tax assets allocated in each segment were reflected as of December 31, 2018 in the assets table and have been reclassified to conform to the total assets presentation as of September 30, 2019. This reclassification had no impact on the total assets reported as of December 31, 2018.
The following table sets forth certain segment information for the three and nine months ended September 30 as indicated:
Operating income (loss) equals total operating revenue less operating costs and expenses inclusive of depreciation and amortization, and selling, general and administrative expenses. Operating costs and expenses also include any gains or losses on the sale of property and equipment. Operating income (loss) excludes interest expense, interest income, other income and income taxes.
The following table sets forth assets by segment as of the dates indicated:
The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef