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Note 17 - Segment Information
 3 Months Ended
Feb. 28, 2021
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
 
17
)
Segment Information
 
The Company has
three
reportable segments: Agricultural Products, Modular Buildings and Tools. The Agricultural Products segment manufactures and sells farm equipment and related replacement parts under the Art's-Way Manufacturing label and private labels. The Modular Buildings segment manufactures and installs modular buildings for various uses, commonly animal containment and research laboratories. The Tools segment manufactures steel cutting tools and inserts.
 
The accounting policies applied to determine the segment information are the same as those described in the summary of significant accounting policies. Management evaluates the performance of each segment based on profit or loss from operations before income taxes, exclusive of nonrecurring gains and losses.
 
Approximate financial information with respect to the reportable segments is as follows.
 
   
Three Months Ended February 28, 2021
  
   
Agricultural Products
    
Modular Buildings
    
Tools
    
Consolidated
  
Revenue from external customers
   $
3,500,000
     $
1,291,000
     $
610,000
     $
5,401,000
  
Income (loss) from operations
   $
(198,000
 )   $
(165,000
 )   $
(6,000
 )   $
(369,000
 )
Income (loss) before tax
   $
(212,000
 )   $
(172,000
 )   $
(16,000
 )   $
(400,000
 )
Total Assets
   $
12,990,000
     $
3,171,000
     $
2,621,000
     $
18,782,000
  
Capital expenditures
   $
155,000
     $
9,000
     $
-
     $
164,000
  
Depreciation & Amortization
   $
99,000
     $
29,000
     $
33,000
     $
161,000
  
 
   
Three Months Ended February 29, 2020
  
   
Agricultural Products
    
Modular Buildings
    
Tools
    
Consolidated
  
Revenue from external customers
   $
2,953,000
     $
1,457,000
     $
616,000
     $
5,026,000
  
Income (loss) from operations
   $
(435,000
 )   $
6,000
     $
(41,000
 )   $
(470,000
 )
Income (loss) before tax
   $
(498,000
 )   $
6,000
     $
(52,000
 )   $
(544,000
 )
Total Assets
   $
13,870,000
     $
4,373,000
     $
2,757,000
     $
21,000,000
  
Capital expenditures
   $
241,000
     $
26,000
     $
-
     $
267,000
  
Depreciation & Amortization
   $
126,000
     $
68,000
     $
33,000
     $
227,000
  
 
*The consolidated total in the tables is a sum of segment figures and
may
not
tie to actual figures in the condensed consolidated financial statements due to rounding.