XML 26 R10.htm IDEA: XBRL DOCUMENT v3.19.1
Equity Investment
12 Months Ended
Feb. 28, 2019
Equity Method Investment, Summarized Financial Information [Abstract]  
Equity Method Investments Disclosure [Text Block]
Equity Investment

The Company has a 50% non-controlling ownership interest in ASA Electronics, LLC and Subsidiary ("ASA"), which acts as a distributor of mobile electronics specifically designed for niche markets within the Automotive industry, including RV’s; buses; and commercial, heavy duty, agricultural, construction, powersport, and marine vehicles. ASC 810 requires the Company to evaluate non-consolidated entities periodically, and as circumstances change, to determine if an implied controlling interest exists. During Fiscal 2019, the Company evaluated this equity investment and concluded that ASA is not a variable interest entity.  ASA’s fiscal year end is November 30, 2018; however, the results of ASA as of and through February 28, 2019 have been recorded in the consolidated financial statements.

The Company's share of income from ASA for the years ended February 28, 2019, February 28, 2018 and February 28, 2017 was $6,618, $7,178 and $6,797, respectively. In addition, the Company received cash distributions from ASA totaling $6,594, $7,247 and $6,820 during the years ended February 28, 2019, February 28, 2018 and February 28, 2017, respectively.

Undistributed earnings from equity investments amounted to $16,559 and $16,531 at February 28, 2019 and February 28, 2018, respectively.

Net sales transactions between the Company and ASA were $390, $315 and $611 for the years ended February 28, 2019, February 28, 2018 and February 28, 2017, respectively. Accounts receivable balances from ASA were $71 and $65 as of February 28, 2019 and February 28, 2018, respectively.