Business Segments

9 Months Ended

Sep. 30, 2019

Business Segments

Business Segments

4.   Business Segments

The Company has identified two business segments based on the distinctness of their activities and products:  Lime and Limestone Operations and Natural Gas Interests.  All operations are in the United States.  In evaluating the operating results of the Company’s segments, management primarily reviews revenues and gross profit.  The Company does not allocate corporate overhead, interest expense or interest income to its business segments.

The following table sets forth operating results and certain other financial data for the Company’s two business segments (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
Revenues	2019		2018		2019		2018
Lime and limestone operations	$	43,265	$	34,713	$	119,311	$	107,984
Natural gas interests		294		559		1,001		1,817
Total revenues	$	43,559	$	35,272	$	120,312	$	109,801
Depreciation, depletion and amortization
Lime and limestone operations	$	4,056	$	4,234	$	12,074	$	12,375
Natural gas interests		133		155		408		479
Total depreciation, depletion and amortization	$	4,189	$	4,389	$	12,482	$	12,854
Gross profit
Lime and limestone operations	$	13,477	$	6,992	$	31,853	$	23,112
Natural gas interests		6		204		50		758
Total gross profit	$	13,483	$	7,196	$	31,903	$	23,870
Capital expenditures
Lime and limestone operations	$	8,063	$	12,309	$	20,423	$	31,687
Natural gas interests		—		—		—		—
Total capital expenditures	$	8,063	$	12,309	$	20,423	$	31,687