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Revenues | 6 Months Ended
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Sep. 28, 2019
Revenues [Abstract] |
Revenues | Note 7 – Revenues Automotive undercar repair, tire sales and tire services represent the vast majority of our revenues. We also earn revenue from the sale of tire road hazard warranty agreements as well as commissions earned from the delivery of tires on behalf of certain tire vendors. Revenue from automotive undercar repair, tire sales and tire services is recognized at the time the customers take possession of their vehicle or merchandise. For sales to certain customers that are financed through the offering of credit on account, payment terms are established for customers based on our pre-established credit requirements. Payment terms vary depending on the customer and generally range from 15 to 45 days. Based on the nature of receivables, no significant financing components exist. Sales are recorded net of discounts, sales incentives and rebates, sales taxes and estimated returns and allowances. We estimate the reduction to sales and cost of sales for returns based on current sales levels and our historical return experience. Such amounts are immaterial to our Consolidated Financial Statements. Revenue from the sale of tire road hazard warranty agreements (included in the Tires product group in the table below) is initially deferred and is recognized over the contract period as costs are expected to be incurred in performing such services, typically 21 to 36 months. The amounts recorded for deferred revenue balances at September 28, 2019 and March 30, 2019 were $18.6 million and $17.2 million, respectively, of which $13.0 million and $12.1 million, respectively, are reported in Deferred revenue and $5.6 million and $5.1 million, respectively, are reported in Other long-term liabilities in our Consolidated Balance Sheets. The following table summarizes deferred revenue related to road hazard warranty agreements from March 30, 2019 to September 28, 2019:
|  | Dollars in
|  | thousands
Balance at March 30, 2019 |  | $ | 17,150
Deferral of revenue |  |  | 8,862
Deferral of revenue from acquisitions |  |  | 1,909
Recognition of revenue |  |  | (9,343)
Balance at September 28, 2019 |  | $ | 18,578
We expect to recognize $7.9 million of deferred revenue related to road hazard warranty agreements in the remainder of fiscal 2020, $8.3 million of such deferred revenue during our fiscal year ending March 27, 2021, and $2.4 million of such deferred revenue thereafter. Under various arrangements, we receive from certain tire vendors a delivery commission and reimbursement for the cost of the tire that we may deliver to customers on behalf of the tire vendor. The commission we earn from these transactions is as an agent and the net amount retained is recorded as sales. (Included in the Tires product group in the following table.) The following table summarizes disaggregated revenue by product group:
|  | Quarter Ended |  | Six Months Ended
|  | Fiscal September |  | Fiscal September
|  | 2019 |  | 2018 |  | 2019 |  | 2018
|  | (Dollars in thousands)
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Brakes |  | $ | 46,201 |  | $ | 44,380 |  | $ | 93,314 |  | $ | 87,128
Exhaust |  |  | 7,431 |  |  | 8,264 |  |  | 14,061 |  |  | 15,623
Steering |  |  | 25,847 |  |  | 23,873 |  |  | 52,410 |  |  | 48,671
Tires |  |  | 159,142 |  |  | 150,522 |  |  | 312,870 |  |  | 291,252
Maintenance |  |  | 84,649 |  |  | 79,271 |  |  | 166,815 |  |  | 158,632
Other |  |  | 843 |  |  | 795 |  |  | 1,707 |  |  | 1,610
Total |  | $ | 324,113 |  | $ | 307,105 |  | $ | 641,177 |  | $ | 602,916

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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