K . BUSINESS SEGMENTS AND FOREIGN OPERATIONS The Company and its subsidiaries are engaged in the manufacture and sale of marine and heavy duty off-highway power transmission equipment. Principal products include marine transmissions, azimuth drives, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches and controls systems. The Company sells to both domestic and foreign customers in a variety of market areas, principally pleasure craft, commercial and military marine markets, energy and natural resources, government, and industrial markets. Net sales by product group is summarized as follows: 2020 2019 Industrial $ 26,343 $ 34,042 Land-based transmissions 62,697 112,793 Marine and propulsion systems 152,501 150,237 Other 5,297 5,591 Total $ 246,838 $ 302,663 Industrial products include clutches, power take-offs and pump drives sold to the agriculture, recycling, construction and oil and gas markets. The land based transmission products include applications for oilfield and natural gas, military and airport rescue and fire fighting. The marine and propulsion systems include marine transmission, azimuth drives, controls, surface drives, propellers and boat management systems for the global commercial marine, pleasure craft and patrol boat markets. Other includes non-Twin Disc manufactured product sold through Company-owned distribution entities. The Company has two reportable segments: manufacturing and distribution. Its segment structure reflects the way management makes operating decisions and manages the growth and profitability of the business. It also corresponds with management's approach of allocating resources and assessing the performance of its segments. The accounting practices of the segments are the same as those described in the summary of significant accounting policies. Transfers among segments are at established inter-company selling prices. Management evaluates the performance of its segments based on net earnings. Information about the Company's segments, before intercompany eliminations, is summarized as follows: 2020 Manufacturing Distribution Total Net Sales $ 227,565 $ 95,824 $ 323,389 Intra-segment sales 14,230 12,889 27,119 Inter-segment sales 43,854 5,578 49,432 Interest income 346 22 368 Interest expense 2,128 - 2,128 Income taxes (2,027 ) 268 (1,759 ) Depreciation and amortization 11,151 379 11,530 Net (loss) income attributable to Twin Disc (31,603 ) 553 (31,050 ) Assets 365,417 43,118 408,535 Expenditures for segment assets 9,615 734 10,349 2019 Manufacturing Distribution Total Net Sales $ 280,428 $ 106,481 $ 386,909 Intra-segment sales 20,384 14,026 34,410 Inter-segment sales 46,078 3,758 49,836 Interest income 1,154 26 1,180 Interest expense 3,086 (37 ) 3,049 Income taxes 7,939 353 8,292 Depreciation and amortization 12,893 402 13,295 Net income attributable to Twin Disc 25,062 248 25,310 Assets 384,612 46,076 430,688 Expenditures for segment assets 10,725 663 11,388 The following is a reconciliation of reportable segment net sales and net (loss) income to the Company's consolidated totals: 2020 2019 Net sales: Total net sales from reportable segments $ 323,389 $ 386,909 Elimination of inter-company sales (76,551 ) (84,246 ) Total consolidated net sales $ 246,838 $ 302,663 Net (loss) income attributable to Twin Disc: Total net (loss) income from reportable segments $ (31,050 ) $ 25,310 Other adjustments and corporate expenses (8,767 ) (14,637 ) Total consolidated net (loss) income attributable to Twin Disc $ (39,817 ) $ 10,673 Corporate expenses pertain to certain costs that are not allocated to the reportable segments, primarily consisting of unallocated corporate overhead costs, including administrative functions and global functional expenses. Other significant items: Segment Consolidated Totals Adjustments Totals 2020 Interest income $ 368 $ (290 ) $ 78 Interest expense 2,128 (268 ) 1,860 Income taxes (1,759 ) (2,410 ) (4,169 ) Depreciation and amortization 11,530 395 11,925 Assets 408,535 (114,408 ) 294,127 Expenditures for segment assets 10,349 350 10,699 2019 Interest income $ 1,180 $ (1,137 ) $ 43 Interest expense 3,049 (1,122 ) 1,927 Income taxes 8,292 (4,581 ) 3,711 Depreciation and amortization 13,295 317 13,612 Assets 430,688 (83,818 ) 346,870 Expenditures for segment assets 11,388 591 11,979 All adjustments represent inter-company eliminations and corporate amounts. Geographic information about the Company is summarized as follows: 2020 2019 Net sales United States $ 83,771 $ 132,467 Netherlands 39,501 31,521 China 26,354 28,772 Austria 12,552 10,464 Australia 12,438 12,463 Italy 11,802 12,755 Canada 5,664 10,875 Other countries 54,756 63,346 Total $ 246,838 $ 302,663 Net sales by geographic region are based on product shipment destination. Long-lived assets primarily pertain to property, plant and equipment and exclude goodwill, other intangibles, and deferred income taxes. They are summarized as follows: 2020 2019 Long-lived assets United States $ 41,996 $ 41,233 Netherlands 12,659 13,186 Belgium 8,363 8,595 Switzerland 6,804 6,810 Italy 1,697 1,894 Other countries 5,205 3,298 Total $ 76,724 $ 75,016 The Company has one distributor customer, primarily of its manufacturing segment, that accounted for 10% of total Company sales for fiscal 2020. There were no customers that accounted for 10% of consolidated net sales in fiscal 2019. Disaggregated revenue: The following tables present details deemed most relevant to the users of the financial statements for the years ended June 30, 2020 and June 30, 2019. Net sales by product group for the year ended June 30, 2020 is summarized as follows: Manufacturing Distribution Elimination of Intercompany Sales Total Industrial $ 24,143 $ 5,634 $ (3,434 ) $ 26,343 Land-based transmissions 63,523 25,699 (26,525 ) 62,697 Marine and propulsion systems 139,833 59,212 (46,544 ) 152,501 Other 66 5,279 (48 ) 5,297 Total $ 227,565 $ 95,824 $ (76,551 ) $ 246,838 Net sales by product group for the year ended June 30, 2019 is summarized as follows: Manufacturing Distribution Elimination of Intercompany Sales Total Industrial $ 30,393 $ 8,079 $ (4,430 ) $ 34,042 Land-based transmissions 111,260 30,483 (28,950 ) 112,793 Marine and propulsion systems 138,704 62,329 (50,796 ) 150,237 Other 71 5,590 (70 ) 5,591 Total $ 280,428 $ 106,481 $ (84,246 ) $ 302,663