|3 Months Ended|
Mar. 31, 2019
|Segment Reporting [Abstract]|
NOTE 15. SEGMENT REPORTING
Segment information is prepared on the same basis that management reviews financial information for operational decision-making purposes. Beginning with the quarter ended March 31, 2019, the Operating Company had a change in reportable segments due to Canadian operations becoming a significant part of the business. As of March 31, 2019, the Operating Company had two operating segments, which also represented our reportable segments: (1) U.S. and (2) Canada. The U.S. reporting segment is comprised of Greenlane's U.S. operations while the Canadian reportable segment is comprised of Greenlane's Canadian operations. "Corporate and other" is comprised of unallocated corporate overhead expenses.
The reportable segments identified above are the business activities of the Operating Company for which discrete financial information is available and for which operating results are regularly reviewed by the Operating Company's chief operating decision maker to allocate resources and assess performance. At March 31, 2019, the Operating Company's chief operating decision maker was the Chief Executive Officer of the Operating Company. Upon completion of the IPO and as a result of Greenlane's control of the Operating Company's business and operations as the sole manager of the Operating Company, the Operating Company's chief operating decision maker is Greenlane's Chief Executive Officer.
Concurrent with the change in reportable segments, the Operating Company revised its prior period financial information to reflect comparable financial information for the new segment structure. Historical financial information presented herein reflects this change.
The table below provides information on revenues from external customers, intersegment revenues, and segment income for the reportable segments. Intersegment revenues are eliminated in consolidation.
The following is a reconciliation of total loss for the reportable segments to consolidated (loss) income from continuing operations before income taxes.
No single customer represented more than 10% of the Operating Company's total consolidated revenue for the three months ended March 31, 2019 and 2018. As of March 31, 2019 and December 31, 2018, no single customer represented more than 10% of the Operating Company's accounts receivable balance.
The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef