Note 4 - Disaggregation of Revenue

6 Months Ended

May 31, 2024

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

4) 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, 2024
	Agricultural		Modular Buildings		Total
Farm equipment	$	3,975,000	$	-	$	3,975,000
Farm equipment service parts		500,000		-		500,000
Modular buildings		-		2,100,000		2,100,000
Modular building lease income		-		56,000		56,000
Other		80,000		19,000		99,000
	$	4,555,000	$	2,175,000	$	6,730,000

	Three Months Ended May 31, 2023
	Agricultural		Modular Buildings		Total
Farm equipment	$	5,491,000	$	-	$	5,491,000
Farm equipment service parts		779,000		-		779,000
Modular buildings		-		1,802,000		1,802,000
Modular building lease income		-		32,000		32,000
Other		98,000		22,000		120,000
	$	6,368,000	$	1,856,000	$	8,224,000

	Six Months Ended May 31, 2024
	Agricultural		Modular Buildings		Total
Farm equipment	$	7,503,000	$	-	$	7,503,000
Farm equipment service parts		1,143,000		-		1,143,000
Modular buildings		-		3,491,000		3,491,000
Modular building lease income		-		92,000		92,000
Other		146,000		79,000		225,000
	$	8,792,000	$	3,662,000	$	12,454,000

	Six Months Ended May 31, 2023
	Agricultural		Modular Buildings		Total
Farm equipment	$	10,223,000	$	-	$	10,223,000
Farm equipment service parts		1,409,000		-		1,409,000
Modular buildings		-		3,402,000		3,402,000
Modular building lease income		-		64,000		64,000
Other		181,000		32,000		213,000
	$	11,813,000	$	3,498,000	$	15,311,000

The Company offered floorplan terms in its Agricultural Products segment during its Fall of 2022 and 2023 early order program to incentivize customers to stock farm equipment on their lots for fiscal 2023 and fiscal 2024. 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, 2024, the Company had approximately $995,000 in receivables on the floorplan program with a due date greater than 30 days compared to $773,000 on May 31, 2023.