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Revenue Recognition (Tables)
12 Months Ended
Dec. 31, 2021
Revenue Recognition [Abstract]  
Schedule of Revenue by Major Market

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

 

 

 

 

For the Year Ended December 31, 2021

 

 

 

Material
Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

116,707

 

 

$

 

 

$

 

 

$

116,707

 

Vehicle

 

 

170,322

 

 

 

 

 

 

 

 

 

170,322

 

Food and beverage

 

 

83,817

 

 

 

 

 

 

 

 

 

83,817

 

Industrial

 

 

193,222

 

 

 

 

 

 

(60

)

 

 

193,162

 

Auto aftermarket

 

 

 

 

 

197,427

 

 

 

 

 

 

197,427

 

Total net sales

 

$

564,068

 

 

$

197,427

 

 

$

(60

)

 

$

761,435

 

 

 

 

For the Year Ended December 31, 2020

 

 

 

Material
Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

92,301

 

 

$

 

 

$

 

 

$

92,301

 

Vehicle

 

 

77,085

 

 

 

 

 

 

 

 

 

77,085

 

Food and beverage

 

 

54,752

 

 

 

 

 

 

 

 

 

54,752

 

Industrial

 

 

119,746

 

 

 

 

 

 

(59

)

 

 

119,687

 

Auto aftermarket

 

 

 

 

 

166,544

 

 

 

 

 

 

166,544

 

Total net sales

 

$

343,884

 

 

$

166,544

 

 

$

(59

)

 

$

510,369

 

 

 

 

For the Year Ended December 31, 2019

 

 

 

Material
Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

71,272

 

 

$

 

 

$

 

 

$

71,272

 

Vehicle

 

 

82,768

 

 

 

 

 

 

 

 

 

82,768

 

Food and beverage

 

 

68,416

 

 

 

 

 

 

 

 

 

68,416

 

Industrial

 

 

133,951

 

 

 

 

 

 

(58

)

 

 

133,893

 

Auto aftermarket

 

 

 

 

 

159,349

 

 

 

 

 

 

159,349

 

Total net sales

 

$

356,407

 

 

$

159,349

 

 

$

(58

)

 

$

515,698

 

Schedule of Balances Included in Consolidated Statements of Financial Position Related to Revenue Recognition

Amounts included in the Consolidated Statements of Financial Position related to revenue recognition include:

 

 

 

December 31,

 

 

December 31,

 

 

Statement of Financial
Position

 

 

2021

 

 

2020

 

 

Classification

Returns, discounts and other allowances

 

$

(1,056

)

 

$

(943

)

 

Accounts receivable

Right of return asset

 

$

361

 

 

$

357

 

 

Inventories, net

Customer deposits

 

$

(1,816

)

 

$

(195

)

 

Other current liabilities

Accrued rebates

 

$

(3,378

)

 

$

(2,712

)

 

Other current liabilities