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Revenue Recognition (Tables)
6 Months Ended
Jun. 30, 2021
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, 2021

 

 

 

Material

Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

37,312

 

 

$

 

 

$

 

 

$

37,312

 

Vehicle

 

 

41,437

 

 

 

 

 

 

 

 

 

41,437

 

Food and beverage

 

 

16,399

 

 

 

 

 

 

 

 

 

16,399

 

Industrial

 

 

42,079

 

 

 

 

 

 

(14

)

 

 

42,065

 

Auto aftermarket

 

 

 

 

 

50,156

 

 

 

 

 

 

50,156

 

Total net sales

 

$

137,227

 

 

$

50,156

 

 

$

(14

)

 

$

187,369

 

 

 

 

For the Quarter Ended June 30, 2020

 

 

 

Material

Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

31,211

 

 

$

 

 

$

 

 

$

31,211

 

Vehicle

 

 

13,813

 

 

 

 

 

 

 

 

 

13,813

 

Food and beverage

 

 

9,072

 

 

 

 

 

 

 

 

 

9,072

 

Industrial

 

 

26,759

 

 

 

 

 

 

(2

)

 

 

26,757

 

Auto aftermarket

 

 

 

 

 

37,541

 

 

 

 

 

 

37,541

 

Total net sales

 

$

80,855

 

 

$

37,541

 

 

$

(2

)

 

$

118,394

 

 

 

For the Six Months Ended June 30, 2021

 

 

 

Material

Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

62,707

 

 

$

 

 

$

 

 

$

62,707

 

Vehicle

 

 

83,629

 

 

 

 

 

 

 

 

 

83,629

 

Food and beverage

 

 

37,816

 

 

 

 

 

 

 

 

 

37,816

 

Industrial

 

 

82,968

 

 

 

 

 

 

(28

)

 

 

82,940

 

Auto aftermarket

 

 

 

 

 

94,706

 

 

 

 

 

 

94,706

 

Total net sales

 

$

267,120

 

 

$

94,706

 

 

$

(28

)

 

$

361,798

 

 

 

 

For the Six Months Ended June 30, 2020

 

 

 

Material

Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

51,498

 

 

$

 

 

$

 

 

$

51,498

 

Vehicle

 

 

30,125

 

 

 

 

 

 

 

 

 

30,125

 

Food and beverage

 

 

26,491

 

 

 

 

 

 

 

 

 

26,491

 

Industrial

 

 

56,817

 

 

 

 

 

 

(23

)

 

 

56,794

 

Auto aftermarket

 

 

 

 

 

75,736

 

 

 

 

 

 

75,736

 

Total net sales

 

$

164,931

 

 

$

75,736

 

 

$

(23

)

 

$

240,644

 

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

 

 

2021

 

 

2020

 

 

Classification

Returns, discounts and other allowances

 

$

(913

)

 

$

(943

)

 

Accounts receivable

Right of return asset

 

$

300

 

 

$

357

 

 

Inventories, net

Customer deposits

 

$

(1,403

)

 

$

(195

)

 

Other current liabilities

Accrued rebates

 

$

(2,311

)

 

$

(2,712

)

 

Other current liabilities