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Revenue Recognition (Tables)
3 Months Ended
Mar. 31, 2023
Revenue Recognition [Abstract]  
Schedule of Revenue by Major Market

The Company’s revenue by major market is as follows:

 

 

 

For the Quarter Ended March 31, 2023

 

 

 

Material
Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

23,876

 

 

$

 

 

$

 

 

$

23,876

 

Vehicle

 

 

32,008

 

 

 

 

 

 

 

 

 

32,008

 

Food and beverage

 

 

41,156

 

 

 

 

 

 

 

 

 

41,156

 

Industrial

 

 

55,522

 

 

 

 

 

 

(8

)

 

 

55,514

 

Auto aftermarket

 

 

 

 

 

63,185

 

 

 

 

 

 

63,185

 

Total net sales

 

$

152,562

 

 

$

63,185

 

 

$

(8

)

 

$

215,739

 

 

 

 

For the Quarter Ended March 31, 2022

 

 

 

Material
Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

31,924

 

 

$

 

 

$

 

 

$

31,924

 

Vehicle

 

 

47,777

 

 

 

 

 

 

 

 

 

47,777

 

Food and beverage

 

 

34,680

 

 

 

 

 

 

 

 

 

34,680

 

Industrial

 

 

62,255

 

 

 

 

 

 

(11

)

 

 

62,244

 

Auto aftermarket

 

 

 

 

 

48,861

 

 

 

 

 

 

48,861

 

Total net sales

 

$

176,636

 

 

$

48,861

 

 

$

(11

)

 

$

225,486

 

 

 

Schedule of Balances included in Condensed Consolidated Statements of Financial Position (Unaudited) Related to Revenue Recognition

Amounts included in the Condensed Consolidated Statements of Financial Position (Unaudited) related to revenue recognition include:

 

 

 

March 31,

 

 

December 31,

 

 

Statement of Financial
Position

 

 

2023

 

 

2022

 

 

Classification

Returns, discounts and other allowances

 

$

(970

)

 

$

(986

)

 

Accounts receivable

Right of return asset

 

$

354

 

 

$

350

 

 

Inventories, net

Customer deposits

 

$

(3,297

)

 

$

(5,896

)

 

Other current liabilities

Accrued rebates

 

$

(3,641

)

 

$

(4,711

)

 

Other current liabilities