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

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

 

 

 

For the Quarter Ended March 31, 2021

 

 

 

Material

Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

25,395

 

 

$

 

 

$

 

 

$

25,395

 

Vehicle

 

 

42,192

 

 

 

 

 

 

 

 

 

42,192

 

Food and beverage

 

 

21,417

 

 

 

 

 

 

 

 

 

21,417

 

Industrial

 

 

40,889

 

 

 

 

 

 

(14

)

 

 

40,875

 

Auto aftermarket

 

 

 

 

 

44,550

 

 

 

 

 

 

44,550

 

Total net sales

 

$

129,893

 

 

$

44,550

 

 

$

(14

)

 

$

174,429

 

 

 

 

 

For the Quarter Ended March 31, 2020

 

 

 

Material

Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

20,287

 

 

$

 

 

$

 

 

$

20,287

 

Vehicle

 

 

16,312

 

 

 

 

 

 

 

 

 

16,312

 

Food and beverage

 

 

17,419

 

 

 

 

 

 

 

 

 

17,419

 

Industrial

 

 

30,058

 

 

 

 

 

 

(21

)

 

 

30,037

 

Auto aftermarket

 

 

 

 

 

38,195

 

 

 

 

 

 

38,195

 

Total net sales

 

$

84,076

 

 

$

38,195

 

 

$

(21

)

 

$

122,250

 

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:

 

 

 

March 31,

 

 

December 31,

 

 

Statement of Financial

Position

 

 

2021

 

 

2020

 

 

Classification

Returns, discounts and other allowances

 

$

(1,153

)

 

$

(943

)

 

Accounts receivable

Right of return asset

 

$

374

 

 

$

357

 

 

Inventories, net

Customer deposits

 

$

(1,119

)

 

$

(195

)

 

Other current liabilities

Accrued rebates

 

$

(2,549

)

 

$

(2,712

)

 

Other current liabilities