Business Segment

9 Months Ended

Sep. 30, 2020

Business Segment

Business Segment

4. Business Segment

The Company has identified one reportable segment based on the distinctness of the Company’s activities and products: lime and limestone operations. All operations are in the United States. In evaluating the operating results of the Company, management primarily reviews revenues, gross profit and operating profit from the lime and limestone operations. Operating profit from its lime and limestone operations includes all of the Company’s selling, general and administrative costs. The Company does not allocate interest expense and interest and other income (expense), net to its lime and limestone operations.

During 2019, the Company’s natural gas interests did not reach any of the quantitative thresholds for a reportable segment, and the Company does not expect the results from its natural gas interests to be of significance in future periods. The revenues, gross profit and operating profit from the Company’s natural gas interests are included in Other for the Company’s reportable segment disclosures. Other identifiable assets include assets related to its natural gas interests, unallocated corporate assets and cash items. Segment disclosures for the three and nine months ended September 30, 2019 have been recast to be consistent with the presentation for the three and nine months ended September 30, 2020.

The following table sets forth operating results and certain other financial data for the Company’s lime and limestone operations segment and other (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
Revenues	2020		2019		2020			2019
Lime and limestone operations	$	43,473	$	43,265	$	119,049		$	119,311
Other		254		294		665			1,001
Total revenues	$	43,727	$	43,559	$	119,714		$	120,312
Depreciation, depletion and amortization
Lime and limestone operations	$	4,706	$	4,056	$	13,681		$	12,074
Other		174		133		543			408
Total depreciation, depletion and amortization	$	4,880	$	4,189	$	14,224		$	12,482
Gross profit (loss)
Lime and limestone operations	$	14,256	$	13,477	$	34,802		$	31,853
Other		(74)		6		(386)			50
Total gross profit	$	14,182	$	13,483	$	34,416		$	31,903
Operating profit (loss)
Lime and limestone operations	$	11,347	$	10,549	$	25,793		$	23,613
Other		(74)		6		(386)			50
Total operating profit	$	11,273	$	10,555	$	25,407		$	23,663
Identifiable assets, at period end
Lime and limestone operations	$	194,819	$	185,043	$	194,819	$		185,043
Other		76,888		88,790		76,888			88,790
Total identifiable assets	$	271,707	$	273,833	$	271,707		$	273,833
Capital expenditures
Lime and limestone operations	$	3,022	$	8,063	$	13,621		$	20,423
Other		—		—		—			—
Total capital expenditures	$	3,022	$	8,063	$	13,621		$	20,423