Revenues and Segment Reporting

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenues and Segment Reporting

Revenues and Segment Reporting:

The following table presents our revenues disaggregated by each major product category and service for each of the last three years (dollars in thousands, amounts and percentages may not always add due to rounding):

	Year Ended December 31,
	2023				2022				2021
	Net Sales		% of Net Sales		Net Sales		% of Net Sales		Net Sales		% of Net Sales
Merchandise:
Case Goods
Bedroom Furniture	$	132,072	15.3	%	$	168,432	16.1	%	$	156,033	15.4	%
Dining Room Furniture	97,969		11.4		118,139		11.3		109,522		10.8
Occasional	68,592		8.0		85,278		8.1		86,849		8.6
	298,633		34.6		371,849		35.5		352,404		34.8
Upholstery	370,921		43.0		445,306		42.5		433,525		42.8
Mattresses	74,798		8.7		85,208		8.1		90,224		8.9
Accessories and Other (1)	117,781		13.7		144,852		13.8		136,646		13.5
	$	862,133	100.0	%	$	1,047,215	100.0	%	$	1,012,799	100.0	%

(1)Includes delivery charges and product protection.

Estimated refunds for returns and allowances are recorded based on estimated margin using our historical return patterns. We record estimated refunds for sales returns on a gross basis and the carrying value of the return asset is presented separately from inventory. Estimated return inventory of $624,000 and $875,000 at December 31, 2023 and 2022, respectively, is included in the line item “Other current assets” and the estimated refund liability of $1,969,000 and $2,588,000 at December 31, 2023 and 2022, respectively, is included in the line item “Accrued liabilities” on the Consolidated Balance Sheets.

We record customer deposits when payments are received in advance of the delivery of merchandise, which totaled $35,837,000 and $47,969,000 at December 31, 2023 and December 31, 2022, respectively. Of the customer deposit liabilities at December 31, 2022, approximately $293,000 has not been recognized through net sales in the twelve months ended December 31, 2023.

We typically offer our customers an opportunity for us to deliver their purchases and most choose this service. Delivery fees of approximately $36,187,000, $52,199,000 and $50,002,000 were charged to customers in 2023, 2022 and 2021, respectively, and are included in net sales. The costs associated with deliveries are included in selling, general and administrative expenses and were approximately $42,361,000, $48,071,000, and $45,914,000 in 2023, 2022 and 2021, respectively.

We operate within a single reportable segment. We use a market area approach for both financial and operational decision making. Each of these market areas are considered individual operating segments. The individual operating segments all have similar economic characteristics. The retail stores within the market areas are similar in size and carry substantially identical products selected for the same target customer. We also use the same distribution methods chain-wide.