Note 3 - Disaggregation of Revenue

3 Months Ended

Feb. 28, 2023

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

3) Disaggregation of Revenue

The following table displays revenue by reportable segment from external customers, disaggregated by major source. The Company believes disaggregating by these categories depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors.

	Three Months Ended February 28, 2023
	Agricultural		Modular Buildings		Tools		Total
Farm equipment	$	4,732,000	$	-	$	-	$	4,732,000
Farm equipment service parts		630,000		-		-		630,000
Steel cutting tools and inserts		-		-		799,000		799,000
Modular buildings		-		1,601,000		-		1,601,000
Modular building lease income		-		32,000		-		32,000
Other		83,000		9,000		9,000		101,000
	$	5,445,000	$	1,642,000	$	808,000	$	7,895,000

	Three Months Ended February 28, 2022
	Agricultural		Modular Buildings		Tools		Total
Farm equipment	$	3,515,000	$	-	$	-	$	3,515,000
Farm equipment service parts		558,000		-		-		558,000
Steel cutting tools and inserts		-		-		574,000		574,000
Modular buildings		-		851,000		-		851,000
Modular building lease income		-		-		-		-
Other		88,000		17,000		10,000		115,000
	$	4,161,000	$	868,000	$	584,000	$	5,613,000

The Company offered floorplan terms in its Agricultural Products segment during its Fall of 2021 and 2022 early order program to incentivize customers to stock farm equipment on their lots for fiscal 2022 and fiscal 2023. Floorplan terms allow customers to pay the Company at the earliest of retail date or 180 days. This program has an effect on the timing of the Company’s cash flows compared with historical cash flows.

On February 28, 2023, the Company had approximately $950,000 in receivables on the floorplan program with a due date greater than 30 days compared to $468,000 on February 28, 2022