SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2022

SEGMENT INFORMATION

SEGMENT INFORMATION

13. SEGMENT INFORMATION

The Company operates in one segment for the manufacture and marketing of controlled motion products and solutions for OEM and end user applications. The Company’s chief operating decision maker has been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material assets and reports revenue.

Financial information related to the foreign subsidiaries is summarized below (in thousands):

	For the year ended December 31,
	2022		2021		2020
Revenues derived from foreign subsidiaries	$	165,220	$	163,988	$	152,491

Identifiable foreign fixed assets were $34,879 and $32,807 as of December 31, 2022 and 2021, respectively.

Revenues derived from foreign subsidiaries and identifiable assets outside of the United States are primarily attributable to Europe, China, Mexico and New Zealand.

Sales to customers outside of the United States by all subsidiaries were $214,017, $185,288 and $171,847 during 2022, 2021 and 2020, respectively.

For 2022, 2021 and 2020 one customer accounted for 11%, 15% and 15% of revenues, respectively, and as of December 31, 2022 and 2021 for 8% and 10% of trade receivables, respectively.