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Note 2 - Revenue Recognition
 6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

NOTE 2 – REVENUE RECOGNITION

 

Effective January 1, 2018, the Company adopted a new accounting standard with regard to revenue from customers. The Company elected the modified retrospective approach for adoption of this new standard, as is allowed by the standard. The Company did not have any significant impact from this standard as of the date of the adoption.

 

Revenue from sales of carpet, modular resilient flooring, rubber flooring, and other flooring-related material was approximately 98% of total revenue for the six months ended June 30, 2019. The remaining 2% of revenue was generated from the installation of carpet and other flooring-related material.

 

Disaggregation of Revenue

 

For the six months ended June 30, 2019, revenue from the Company’s customers is broken down by geography as follows:

 

Geography   Percentage of Net Sales  
Americas     56.2%  
Europe     28.8%  
Asia-Pacific     15.0%  

          

Impairment Losses

 

The Company does not recognize any impairment losses related to its revenue contracts due primarily to the short-term and straightforward nature of these contracts.