12. Business Segments and Foreign Operations
The Company evaluates the performance of its segments and allocates resources to them based on sales, operating income and expected return. The Company is organized based on geographic location. Segment data does not include inter-segment revenues and incorporates costs from corporate headquarters into the America’s segment, without allocation to other segments. The Company’s segments are run independently, and as a result, there are few costs that could be considered only costs from headquarters that would qualify for allocation to other segments. The most significant portions of costs from headquarters relate to the Americas segment both as a percentage of time and sales. Therefore, any allocation to other segments would be arbitrary.
The tables below present information about reportable segments and net sales for the fiscal years ended August 31:
| The Americas |
Europe | Asia- Pacific |
Total | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2007 Net sales |
$ | 187,146,000 | $ | 96,485,000 | $ | 24,185,000 | $ | 307,816,000 | |||||||
| Income from operations | $ | 28,980,000 | $ | 16,711,000 | $ | 3,325,000 | $ | 49,016,000 | |||||||
| Depreciation and amortization expense | $ | 2,146,000 | $ | 1,370,000 | $ | 133,000 | $ | 3,649,000 | |||||||
| Interest income | $ | 1,466,000 | $ | 593,000 | $ | 34,000 | $ | 2,093,000 | |||||||
| Interest expense | $ | 4,098,000 | $ | — | $ | 13,000 | $ | 4,111,000 | |||||||
| Total assets | $ | 208,456,000 | $ | 66,259,000 | $ | 8,471,000 | $ | 283,186,000 | |||||||
| 2006 Net sales |
$ | 186,769,000 | $ | 79,101,000 | $ | 21,046,000 | $ | 286,916,000 | |||||||
| Income from operations | $ | 28,714,000 | $ | 13,088,000 | $ | 4,220,000 | $ | 46,022,000 | |||||||
| Depreciation and amortization expense | $ | 2,124,000 | $ | 1,250,000 | $ | 93,000 | $ | 3,467,000 | |||||||
| Interest income | $ | 1,153,000 | $ | 223,000 | $ | 18,000 | $ | 1,394,000 | |||||||
| Interest expense | $ | 4,897,000 | $ | — | $ | — | $ | 4,897,000 | |||||||
| Total assets | $ | 208,261,000 | $ | 55,274,000 | $ | 4,940,000 | $ | 268,475,000 | |||||||
| 2005 Net sales |
$ | 176,106,000 | $ | 68,353,000 | $ | 18,768,000 | $ | 263,227,000 | |||||||
| Income from operations | $ | 30,706,000 | $ | 12,261,000 | $ | 4,453,000 | $ | 47,420,000 | |||||||
| Depreciation and amortization expense | $ | 1,682,000 | $ | 1,238,000 | $ | 87,000 | $ | 3,007,000 | |||||||
| Interest income | $ | 852,000 | $ | 161,000 | $ | 21,000 | $ | 1,034,000 | |||||||
| Interest expense | $ | 6,167,000 | $ | — | $ | — | $ | 6,167,000 | |||||||
| Total assets | $ | 203,716,000 | $ | 45,399,000 | $ | 5,138,000 | $ | 254,253,000 | |||||||
| Net Sales | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2007 | 2006 | 2005 | |||||||||
| Product Line Information Lubricants |
$ | 216,300,000 | $ | 190,468,000 | $ | 174,084,000 | |||||
| Household products | 85,106,000 | 89,822,000 | 82,237,000 | ||||||||
| Hand cleaners | 6,410,000 | 6,626,000 | 6,906,000 | ||||||||
| $ | 307,816,000 | $ | 286,916,000 | $ | 263,227,000 | ||||||
| Geographical Information United States |
$ | 160,904,000 | $ | 161,624,000 | $ | 154,369,000 | |||||
| United Kingdom | 29,127,000 | 25,432,000 | 22,818,000 | ||||||||
| Other international | 117,785,000 | 99,860,000 | 86,040,000 | ||||||||
| $ | 307,816,000 | $ | 286,916,000 | $ | 263,227,000 | ||||||
| Non-current Assets | |||||||
|---|---|---|---|---|---|---|---|
| 2007 | 2006 | ||||||
| Geographical Information United States |
$ | 126,105,000 | $ | 126,917,000 | |||
| International | 26,510,000 | 26,018,000 | |||||
| $ | 152,615,000 | $ | 152,935,000 | ||||