XML 38 R22.htm IDEA: XBRL DOCUMENT
v3.23.1

Significant Customer and Other Information | 12 Months Ended
--- | ---
Mar. 31, 2023
Significant Customer and Other Information [Abstract] |
Significant Customer and Other Information | 15. Significant Customer and Other Information Significant Customer Concentrations While the Company continually seeks to diversify its customer base, it currently derives, and has historically derived, a substantial portion of its sales from a small number of large customers. Any meaningful reduction in the level of sales to any of these customers, deterioration of the financial condition of any of these customers or the loss of any of these customers could have a materially adverse impact on our business, results of operations, and financial condition. The Company’s largest customers accounted for the following total percentage of net sales:
|  | Years Ended March 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Customer A |  |  | 37 | % |  |  | 38 | % |  |  | 42 | %
Customer B |  |  | 23 | % |  |  | 18 | % |  |  | 22 | %
Customer C |  |  | 24 | % |  |  | 29 | % |  |  | 23 | %
Customer D |  |  | 4 | % |  |  | 2 | % |  |  | 2 | %
Revenues for Customers A through C were derived from the Hard Parts segment and Test Solutions and Diagnostic Equipment segment. Revenues for Customer D were derived from the Hard Parts segment. The Company’s largest customers accounted for the following total percentage of accounts receivable — trade:
|  | March 31, 2023 |  |  | March 31, 2022 |
Customer A |  |  | 33 | % |  |  | 42 | %
Customer B |  |  | 18 | % |  |  | 21 | %
Customer C |  |  | 21 | % |  |  | 9 | %
Customer D |  |  | 12 | % |  |  | 5 | %
Geographic and Product Information The Company’s products are predominantly sold in the U.S. and accounted for the following total percentage of net sales:
|  | Years Ended March 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Rotating electrical products |  |  | 67 | % |  |  | 69 | % |  |  | 73 | %
Wheel hub products |  |  | 11 | % |  |  | 13 | % |  |  | 15 | %
Brake-related products |  |  | 18 | % |  |  | 15 | % |  |  | 10 | %
Other products |  |  | 4 | % |  |  | 3 | % |  |  | 2 | %
|  |  | 100 | % |  |  | 100 | % |  |  | 100 | %
Significant Supplier Concentrations No suppliers accounted for more than 10% of the Company’s inventory purchases for the years ended March 31, 2023, 2022, and 2021.

X
- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI https://asc.fasb.org/topic&trid=2134479 + Details
Name: | us-gaap_ConcentrationRiskDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RisksAndUncertaintiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration