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Revenue Recognition (Tables)
6 Months Ended
Jun. 30, 2024
Revenue Recognition [Abstract]  
Schedule of Revenue by Major Market

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

 

 

 

For the Quarter Ended June 30, 2024

 

 

 

Material
Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

27,565

 

 

$

 

 

$

 

 

$

27,565

 

Vehicle

 

 

29,372

 

 

 

 

 

 

 

 

 

29,372

 

Food and beverage

 

 

16,202

 

 

 

 

 

 

 

 

 

16,202

 

Industrial

 

 

61,141

 

 

 

 

 

 

(37

)

 

 

61,104

 

Infrastructure

 

 

31,728

 

 

 

 

 

 

 

 

 

31,728

 

Auto aftermarket

 

 

 

 

 

54,265

 

 

 

 

 

 

54,265

 

Total net sales

 

$

166,008

 

 

$

54,265

 

 

$

(37

)

 

$

220,236

 

 

 

 

For the Quarter Ended June 30, 2023

 

 

 

Material
Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

30,284

 

 

$

 

 

$

 

 

$

30,284

 

Vehicle

 

 

36,205

 

 

 

 

 

 

 

 

 

36,205

 

Food and beverage

 

 

18,989

 

 

 

 

 

 

 

 

 

18,989

 

Industrial

 

 

57,817

 

 

 

 

 

 

(15

)

 

 

57,802

 

Infrastructure

 

 

 

 

 

 

 

 

 

 

 

 

Auto aftermarket

 

 

 

 

 

65,173

 

 

 

 

 

 

65,173

 

Total net sales

 

$

143,295

 

 

$

65,173

 

 

$

(15

)

 

$

208,453

 

 

 

 

For the Six Months Ended June 30, 2024

 

 

 

Material
Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

49,866

 

 

$

 

 

$

 

 

$

49,866

 

Vehicle

 

 

58,782

 

 

 

 

 

 

 

 

 

58,782

 

Food and beverage

 

 

43,775

 

 

 

 

 

 

 

 

 

43,775

 

Industrial

 

 

114,755

 

 

 

 

 

 

(54

)

 

 

114,701

 

Infrastructure

 

 

51,055

 

 

 

 

 

 

 

 

 

51,055

 

Auto aftermarket

 

 

 

 

 

109,159

 

 

 

 

 

 

109,159

 

Total net sales

 

$

318,233

 

 

$

109,159

 

 

$

(54

)

 

$

427,338

 

 

 

 

For the Six Months Ended June 30, 2023

 

 

 

Material
Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

54,160

 

 

$

 

 

$

 

 

$

54,160

 

Vehicle

 

 

68,213

 

 

 

 

 

 

 

 

 

68,213

 

Food and beverage

 

 

60,145

 

 

 

 

 

 

 

 

 

60,145

 

Industrial

 

 

113,339

 

 

 

 

 

 

(23

)

 

 

113,316

 

Infrastructure

 

 

 

 

 

 

 

 

 

 

 

 

Auto aftermarket

 

 

 

 

 

128,358

 

 

 

 

 

 

128,358

 

Total net sales

 

$

295,857

 

 

$

128,358

 

 

$

(23

)

 

$

424,192

 

 

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:

 

 

 

June 30,

 

 

December 31,

 

 

Statement of Financial
Position

 

 

2024

 

 

2023

 

 

Classification

Returns, discounts and other allowances

 

$

(1,112

)

 

$

(1,200

)

 

Trade accounts receivable

Right of return asset

 

$

570

 

 

$

432

 

 

Inventories, net

Customer deposits

 

$

(1,740

)

 

$

(2,017

)

 

Other current liabilities

Accrued rebates

 

$

(3,629

)

 

$

(4,441

)

 

Other current liabilities