Revenue Recognition (Tables)
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9 Months Ended |
Sep. 30, 2018 |
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| Revenue From Contract With Customer [Abstract] |
|
| Revenue by customer and timing recognition |
Revenue by customer type was as follows:
|
|
|
|
|
|
|
Three Months Ended September 30, 2018
|
Work Truck Attachments
|
Work Truck Solutions
|
Corporate and Eliminations
|
Total Revenue
|
|
Independent dealer
|
$ 80,964
|
$ 18,732
|
$ -
|
$ 99,696
|
|
Government
|
12,568
|
-
|
-
|
12,568
|
|
Fleet
|
-
|
13,955
|
-
|
13,955
|
|
Other
|
-
|
2,017
|
(3,404)
|
(1,387)
|
|
Total revenue
|
$ 93,532
|
$ 34,704
|
$ (3,404)
|
$ 124,832
|
|
|
|
|
|
|
|
Nine Months Ended September 30, 2018
|
Work Truck Attachments
|
Work Truck Solutions
|
Corporate and Eliminations
|
Total Revenue
|
|
Independent dealer
|
$ 232,934
|
$ 58,524
|
$ -
|
$ 291,458
|
|
Government
|
35,351
|
-
|
-
|
35,351
|
|
Fleet
|
-
|
43,501
|
-
|
43,501
|
|
Other
|
-
|
8,538
|
(6,606)
|
1,932
|
|
Total revenue
|
$ 268,285
|
$ 110,563
|
$ (6,606)
|
$ 372,242
|
|
|
|
|
|
|
Revenue by timing of revenue recognition was as follows:
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|
|
|
|
|
|
Three Months Ended September 30, 2018
|
Work Truck Attachments
|
Work Truck Solutions
|
Corporate and Eliminations
|
Total Revenue
|
|
Point in time
|
$ 93,532
|
$ 13,601
|
$ (3,404)
|
$ 103,729
|
|
Over time
|
-
|
21,103
|
-
|
21,103
|
|
Total revenue
|
$ 93,532
|
$ 34,704
|
$ (3,404)
|
$ 124,832
|
|
|
|
|
|
|
|
Nine Months Ended September 30, 2018
|
Work Truck Attachments
|
Work Truck Solutions
|
Corporate and Eliminations
|
Total Revenue
|
|
Point in time
|
$ 268,285
|
$ 42,501
|
$ (6,606)
|
$ 304,180
|
|
Over time
|
-
|
68,062
|
-
|
68,062
|
|
Total revenue
|
$ 268,285
|
$ 110,563
|
$ (6,606)
|
$ 372,242
|
|
|
|
|
|
|
|
| Contract Balances |
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|
|
|
|
|
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|
|
|
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Three Months Ended September 30, 2018
|
|
Balance at Beginning of Period
|
|
Additions
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Deductions
|
|
Balance at End of Period
|
|
Contract liabilities
|
$
|
3,316
|
$
|
2,434
|
$
|
(3,544)
|
$
|
2,206
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, 2018
|
|
Balance at Beginning of Period
|
|
Additions
|
|
Deductions
|
|
Balance at End of Period
|
|
Contract liabilities
|
$
|
2,048
|
$
|
8,605
|
$
|
(8,447)
|
$
|
2,206
|
|
| Impact of New Revenue Guidance on Financial Statement Line Items |
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Three Months Ended September 30, 2018
|
|
Nine Months Ended September 30, 2018
|
|
|
As Reported
|
Balances without adoption of Topic 606
|
Effect of Change Higher/(Lower)
|
|
As Reported
|
Balances without adoption of Topic 606
|
Effect of Change Higher/(Lower)
|
|
Net sales
|
$ 124,832
|
$ 124,816
|
$ 16
|
|
$ 372,242
|
$ 371,969
|
$ 273
|
|
Cost of sales
|
89,912
|
89,910
|
2
|
|
261,446
|
261,276
|
170
|
|
Gross profit
|
34,920
|
34,906
|
14
|
|
110,796
|
110,693
|
103
|
|
Income from operations
|
15,460
|
15,446
|
14
|
|
48,910
|
48,807
|
103
|
|
Income tax expense
|
1,148
|
1,144
|
4
|
|
6,802
|
6,774
|
28
|
|
Net income
|
$ 9,921
|
$ 9,911
|
$ 10
|
|
$ 29,209
|
$ 29,134
|
$ 75
|
|
Earnings per common share:
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|
|
|
|
|
|
|
|
Basic
|
$ 0.43
|
$ -
|
$ 0.43
|
|
$ 1.27
|
$ -
|
$ 1.27
|
|
Diluted
|
$ 0.43
|
$ -
|
$ 0.43
|
|
$ 1.26
|
$ -
|
$ 1.26
|
|
|
|
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|
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|
In accordance with Topic 606, the disclosure of the impact of adoption to the condensed consolidated balance sheet was as follows:
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|
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As of September 30, 2018
|
|
|
As Reported
|
Balances without adoption of Topic 606
|
Effect of Change Higher/(Lower)
|
|
Assets:
|
|
|
|
|
Accounts Receivable
|
$ 128,164
|
$ 126,052
|
$ 2,112
|
|
Inventory
|
89,444
|
91,148
|
(1,704)
|
|
Liabilities:
|
|
|
|
|
Deferred tax liability
|
46,447
|
46,341
|
106
|
|
Shareholder's Equity:
|
|
|
|
|
Retained Earnings
|
127,032
|
126,654
|
378
|
|
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