Note 3 - Disaggregation of Revenue

6 Months Ended

May 31, 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 May 31, 2023
	Agricultural		Modular Buildings		Tools		Total
Farm equipment	$	5,491,000	$	-	$	-	$	5,491,000
Farm equipment service parts		779,000		-		-		779,000
Steel cutting tools and inserts		-		-		776,000		776,000
Modular buildings		-		1,802,000		-		1,802,000
Modular building lease income		-		32,000		-		32,000
Other		98,000		22,000		8,000		128,000
	$	6,368,000	$	1,856,000	$	784,000	$	9,008,000

	Three Months Ended May 31, 2022
	Agricultural		Modular Buildings		Tools		Total
Farm equipment	$	4,530,000	$	-	$	-	$	4,530,000
Farm equipment service parts		676,000		-		-		676,000
Steel cutting tools and inserts		-		-		738,000		738,000
Modular buildings		-		1,157,000		-		1,157,000
Modular building lease income		-		-		-		-
Other		110,000		52,000		12,000		174,000
	$	5,316,000	$	1,209,000	$	750,000	$	7,275,000

	Six Months Ended May 31, 2023
	Agricultural		Modular Buildings		Tools		Total
Farm equipment	$	10,223,000	$	-	$	-	$	10,223,000
Farm equipment service parts		1,409,000		-		-		1,409,000
Steel cutting tools and inserts		-		-		1,574,000		1,574,000
Modular buildings		-		3,402,000		-		3,402,000
Modular building lease income		-		64,000		-		64,000
Other		181,000		32,000		18,000		231,000
	$	11,813,000	$	3,498,000	$	1,592,000	$	16,903,000

	Six Months Ended May 31, 2022
	Agricultural		Modular Buildings		Tools		Total
Farm equipment	$	8,045,000	$	-	$	-	$	8,045,000
Farm equipment service parts		1,234,000		-		-		1,234,000
Steel cutting tools and inserts		-		-		1,312,000		1,312,000
Modular buildings		-		2,009,000		-		2,009,000
Modular building lease income		-		-		-		-
Other		198,000		68,000		22,000		288,000
	$	9,477,000	$	2,077,000	$	1,334,000	$	12,888,000

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 May 31, 2023, the Company had approximately $773,000 in receivables on the floorplan program with a due date greater than 30 days compared to $725,000 on May 31, 2022.