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SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
 12 Months Ended
Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule Of Valuation And Qualifying Accounts Disclosure Text Block

Item 15. Exhibits, Financial Statement Schedules

 

The following documents are filed as part of this Annual Report on Form 10-K:

 

(1)
Financial Statements:

The financial statements are filed as part of this Annual Report on Form 10-K under “Item 8. Financial Statements and Supplementary Data.”

(2)
Financial Statement Schedules:

Schedule II-Valuation and Qualifying Accounts is included below. The rest of the schedules required by this item have been omitted as they are either not required, not applicable or the information required is presented in the financial statements and notes thereto under "Item 8. Financial Statements and Supplementary Data" of this report.

Holley Inc. and Subsidiaries

 

Schedule II - Valuation and Qualifying Accounts

 

Years Ended December 31, 2021, 2020, and 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Charged

 

 

 

 

 

Charged

 

 

 

 

 

 

Balance at

 

 

(Credited)

 

 

Reserves

 

 

Against

 

 

Balance at

 

 

 

Beginning of

 

 

to Costs and

 

 

from

 

 

Allowances

 

 

End of

 

 

 

Period

 

 

Expenses

 

 

Acquisitions

 

 

(1) (2)

 

 

Period

 

Accounts receivable reserve:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bad debt reserve

 

$

334

 

 

$

103

 

 

$

—

 

 

$

229

 

 

$

208

 

Cash discount reserve

 

 

406

 

 

 

3,751

 

 

 

—

 

 

 

3,915

 

 

 

242

 

Year ended December 31, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bad debt reserve

 

 

208

 

 

 

1,597

 

 

 

—

 

 

 

992

 

 

 

813

 

Cash discount reserve

 

 

242

 

 

 

5,289

 

 

 

—

 

 

 

5,105

 

 

 

426

 

Year ended December 31, 2021:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bad debt reserve

 

 

813

 

 

 

809

 

 

 

—

 

 

 

666

 

 

 

956

 

Cash discount reserve

 

 

426

 

 

 

6,173

 

 

 

—

 

 

 

6,169

 

 

 

430

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Inventory valuation reserve:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expired and obsolete reserve

 

 

16,177

 

 

 

2,792

 

 

 

—

 

 

 

99

 

 

 

18,870

 

Year ended December 31, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expired and obsolete reserve

 

 

18,870

 

 

 

2,293

 

 

 

480

 

 

 

(409

)

 

 

22,052

 

Year ended December 31, 2021:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expired and obsolete reserve

 

 

22,052

 

 

 

3,806

 

 

 

1,226

 

 

 

804

 

 

 

26,280

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Write-off of uncollectible accounts, net of recoveries.

 

(2) Write-off of obsolete inventory, net of inventory adjustments.

 
(3)
Exhibits:

See Exhibit Index immediately following the signature page of this Annual Report on Form 10-K.