Quarterly report pursuant to Section 13 or 15(d)

Note 14 - Segment Information

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Note 14 - Segment Information
 9 Months Ended
Sep. 30, 2015
Notes  
Note 14 - Segment Information

NOTE 14 - SEGMENT INFORMATION

 

The accounting standards for reporting information about operating segments define operating segments as components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is the Chief Executive Officer. The Company is organized by line of business. While the Chief Executive Officer evaluates results in a number of different ways, the line of business management structure is the primary basis for which the allocation of resources and financial results are assessed. Under the aforementioned criteria, the Company operates in two operating and reporting segments: metal purchasing, processing, recycling and selling, and used auto parts.

 

The information provided below is obtained from internal information that is provided to the Company’s chief operating decision maker for the purpose of corporate management. The Company uses operating income (loss) to measure segment performance. The Company does not allocate corporate interest income and expense, income taxes, other income and expenses related to corporate activity or corporate expense for management and administrative services that benefit both segments. In addition, the Company does not allocate restructuring charges to the segment operating income (loss) because management does not include this information in its measurement of the performance of the operating segments. Because of this unallocated income and expense, the operating income (loss) of each reporting segment does not reflect the operating income (loss) the reporting segment would report as a stand-alone business.

 

The table below illustrates the Company’s results by reporting segment for the nine months ended September 30, 2015 and 2014:

 

Segment Information

 

 

 

 

 

 

9/30/2015

9/30/2014

Revenue

 

 

 

 

 

Oil service operations

$59,404

$40,895

Litigation

0

1,175

 

 

 

Total Revenue

$59,404

$42,070

 

 

 

 

9/30/2015

9/30/2014

Cost of Sales

 

 

 

 

 

Oil service operations

$55,075

$29,443

Litigation

0

0

 

 

 

Total Product Cost

$55,075

$29,443

 

 

 

 

9/30/2015

9/30/2014

Operating Cost

 

 

 

 

 

Oil service operations

$55,518

$61,744

Litigation

48

31,389

 

 

 

Total Operating Cost

$55,566

$93,133

 

 

 

 

9/30/2015

9/30/2014

Net Operating Income(Loss)

 

 

 

 

 

Oil service operations

$(73,314)

$(50,292)

Litigation

(48)

$(30,214)

 

 

 

Total Net Operating Income(Loss)

$(73,362)

$(80,506)