XML 46 R28.htm IDEA: XBRL DOCUMENT v3.21.2
Revenue Recognition
12 Months Ended
Jun. 30, 2021
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
The Company’s primary sources of revenue are sales of coffee, tea and culinary products. The Company recognizes revenue when control of the promised good or service is transferred to the customer and in amounts that the Company expects to collect. The timing of revenue recognition takes into consideration the various shipping terms applicable to the Company’s sales.
The Company delivers products to customers primarily through two methods, DSD to the Company’s customers at their place of business and direct ship from the Company’s warehouse to the customer’s warehouse or facility. Each delivery or shipment made to a third party customer is to satisfy a performance obligation. Performance obligations generally occur at a point in time and are satisfied when control of the goods passes to the customer. The Company is entitled to collection of the sales price under normal credit terms in the regions in which it operates.
The Company disaggregates net sales from contracts with customers based on the characteristics of the products sold:
For the Years Ended June 30,
202120202019
(In thousands)$% of total$% of total$% of total
Net Sales by Product Category:
Coffee (Roasted)$263,399 66.2 %$325,764 64.9 %$378,583 63.5 %
Coffee (Frozen Liquid)15,144 3.8 %28,619 5.7 %34,541 5.8 %
Tea (Iced & Hot)17,307 4.4 %25,369 5.1 %33,109 5.6 %
Culinary44,986 11.3 %50,135 10.0 %64,100 10.8 %
Spice18,680 4.7 %21,473 4.3 %24,101 4.0 %
Other beverages(1)37,032 9.3 %44,983 9.0 %58,367 9.8 %
Other revenues(2)— — %2,701 0.5 %— — %
     Net sales by product category396,548 99.7 %499,044 99.5 %592,801 99.5 %
Fuel surcharge1,302 0.3 %2,276 0.5 %3,141 0.5 %
     Net sales$397,850 100.0 %$501,320 100.0 %$595,942 100.0 %
____________
(1)Includes all beverages other than roasted coffee, frozen liquid coffee, and iced and hot tea, including cappuccino, cocoa, granitas, and concentrated and ready-to drink cold brew and iced coffee.
(2)Represents revenues for certain transition services related to the sale of the Company’s office coffee assets.
The Company does not have any material contract assets and liabilities as of June 30, 2021. Receivables from contracts with customers are included in “Accounts receivable, net” on the Company’s consolidated balance sheets. At June 30, 2021, 2020 and 2019, “Accounts receivable, net” included, $37.2 million, $40.7 million and $54.5 million, respectively, in receivables from contracts with customers