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Revenue Recognition (Tables)
9 Months Ended
Sep. 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 September 30, 2021

 

 

 

Material

Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

32,355

 

 

$

 

 

$

 

 

$

32,355

 

Vehicle

 

 

43,700

 

 

 

 

 

 

 

 

 

43,700

 

Food and beverage

 

 

21,549

 

 

 

 

 

 

 

 

 

21,549

 

Industrial

 

 

52,060

 

 

 

 

 

 

(19

)

 

 

52,041

 

Auto aftermarket

 

 

 

 

 

50,413

 

 

 

 

 

 

50,413

 

Total net sales

 

$

149,664

 

 

$

50,413

 

 

$

(19

)

 

$

200,058

 

 

 

 

For the Quarter Ended September 30, 2020

 

 

 

Material

Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

26,865

 

 

$

 

 

$

 

 

$

26,865

 

Vehicle

 

 

19,715

 

 

 

 

 

 

 

 

 

19,715

 

Food and beverage

 

 

11,882

 

 

 

 

 

 

 

 

 

11,882

 

Industrial

 

 

28,307

 

 

 

 

 

 

(28

)

 

 

28,279

 

Auto aftermarket

 

 

 

 

 

45,517

 

 

 

 

 

 

45,517

 

Total net sales

 

$

86,769

 

 

$

45,517

 

 

$

(28

)

 

$

132,258

 

 

 

For the Nine Months Ended September 30, 2021

 

 

 

Material

Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

95,062

 

 

$

 

 

$

 

 

$

95,062

 

Vehicle

 

 

127,329

 

 

 

 

 

 

 

 

 

127,329

 

Food and beverage

 

 

59,365

 

 

 

 

 

 

 

 

 

59,365

 

Industrial

 

 

135,028

 

 

 

 

 

 

(47

)

 

 

134,981

 

Auto aftermarket

 

 

 

 

 

145,119

 

 

 

 

 

 

145,119

 

Total net sales

 

$

416,784

 

 

$

145,119

 

 

$

(47

)

 

$

561,856

 

 

 

 

For the Nine Months Ended September 30, 2020

 

 

 

Material

Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

78,363

 

 

$

 

 

$

 

 

$

78,363

 

Vehicle

 

 

49,840

 

 

 

 

 

 

 

 

 

49,840

 

Food and beverage

 

 

38,373

 

 

 

 

 

 

 

 

 

38,373

 

Industrial

 

 

85,124

 

 

 

 

 

 

(51

)

 

 

85,073

 

Auto aftermarket

 

 

 

 

 

121,253

 

 

 

 

 

 

121,253

 

Total net sales

 

$

251,700

 

 

$

121,253

 

 

$

(51

)

 

$

372,902

 

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:

 

 

 

September 30,

 

 

December 31,

 

 

Statement of Financial

Position

 

 

2021

 

 

2020

 

 

Classification

Returns, discounts and other allowances

 

$

(1,817

)

 

$

(943

)

 

Accounts receivable

Right of return asset

 

$

726

 

 

$

357

 

 

Inventories, net

Customer deposits

 

$

(1,752

)

 

$

(195

)

 

Other current liabilities

Accrued rebates

 

$

(2,920

)

 

$

(2,712

)

 

Other current liabilities