OPERATING SEGMENTS

We have two reportable operating segments: (1) Retail and Wholesale Products Group and (2) Business to Business Products Group. These operating segments are managed separately and each segment's major customers have different characteristics. The Retail and Wholesale Products Group customers include mass merchandisers, wholesale clubs, drugstore chains, pet specialty retail outlets, dollar stores, retail grocery stores, distributors of industrial cleanup and automotive products, environmental service companies and sports field product users. The Business to Business Products Group customers include: processors and refiners of edible oils, petroleum-based oils and biodiesel fuel; manufacturers of animal feed and agricultural chemicals; distributors of animal health and nutrition products; and marketers of consumer products.

Net sales for our principal products by segment are as follows (in thousands):



	Business to Business Products Group				Retail and Wholesale Products Group
	Year Ended July 31,
Product	2019		2018		2019		2018
Cat Litter	$	13,764	$	13,301	$	135,489	$	124,635
Industrial and Sports	—		—		33,341		34,224
Agricultural and Horticultural	24,311		23,897		—		—
Bleaching Clay and Fluids Purification	51,905		49,783		2,318		2,098
Animal Health and Nutrition	15,897		18,062		—		—
Net Sales	$	105,877	$	105,043	$	171,148	$	160,957

Net sales and operating income for each segment are provided below. The accounting policies of the segments are the same as those described in the Note 1 of the Notes to the Consolidated Financial Statements.

We do not rely on any operating segment asset allocations and we do not consider them meaningful because of the shared nature of our production facilities; however, we have estimated the segment asset allocations below for those assets for which we can reasonably determine. The unallocated asset category is the remainder of our total assets. The asset allocation is estimated and is not a measure used by our chief operating decision maker about allocating resources to the operating segments or in assessing their performance.

The corporate expenses line in the table below represents certain unallocated expenses, including primarily salaries, wages and benefits, purchased services, rent, utilities and depreciation and amortization associated with corporate functions such as research and development, information systems, finance, legal, human resources and customer service. Corporate expenses also include the annual incentive plan bonus accrual. Other income in fiscal year 2019 included net proceeds upon resolution of legal proceedings. The amount received under a confidential agreement resolving these legal proceedings was material to our financial results for the period.



					July 31,
					Assets
					2019			2018
					(in thousands)
Business to Business Products					$	65,282		$	65,143
Retail and Wholesale Products					94,809			89,623
Unallocated assets					45,136			39,916
Total Assets					$	205,227		$	194,682

	Year Ended July 31,
	Net Sales				Income
	2019		2018		2019			2018
	(in thousands)
Business to Business Products	$	105,877	$	105,043	$	31,388		$	35,120
Retail and Wholesale Products	171,148		160,957		8,683			6,975
Net Sales	$	277,025	$	266,000
Corporate Expenses					(29,659		)	(26,218		)
Income from Operations					10,412			15,877
Total Other Income (Expense), Net					4,136			(1,011		)
Income Before Income Taxes					14,548			14,866
Income Tax Expense					(1,933		)	(6,644		)
Net Income					$	12,615		$	8,222
Net Income (Loss) Attributable to Noncontrolling Interest					$	4		$	(18	)
Net Income Attributable to Oil-Dri					$	12,611		$	8,240

The following is a summary by fiscal year of financial information by geographic region (in thousands):



	2019		2018
Sales to unaffiliated customers by:
Domestic operations	$	264,476	$	254,158
Foreign subsidiaries	$	12,549	$	11,842
Sales or transfers between geographic areas:
Domestic operations	$	5,097	$	5,570
Income before income taxes:
Domestic operations	$	14,280	$	14,742
Foreign subsidiaries	$	268	$	124
Net Income (Loss) attributable to Oil-Dri:
Domestic operations	$	12,456	$	8,249
Foreign subsidiaries	$	155	$	(9	)
Identifiable assets:
Domestic operations	$	195,032	$	185,361
Foreign subsidiaries	$	10,195	$	9,321

Sales to Walmart, our largest customer, are included in our Retail and Wholesale Products Group. The percentage of consolidated net sales and net accounts receivable attributed to Walmart are shown in the table below:



	2019	2018
Net sales for the years ended July 31	20%	18%
Net accounts receivable as of July 31	26%	26%

There are no other customers with sales equal to or greater than 10% of our total sales.