XML 27 R20.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Nature of Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Basic and Diluted EPS | The following presents the calculation of the basic and diluted EPS for the years ended September 30, 2019 and 2018:
|  | 2019 |  |  | 2018 (as adjusted) |
|  | Net Income |  |  | Shares |  |  | EPS |  |  | Net Income |  |  | Shares |  |  | EPS |
Basic EPS |  | $ | 10,196,000 |  |  |  | 14,551,000 |  |  | $ | 0.70 |  |  | $ | 12,694,000 |  |  |  | 14,492,000 |  |  | $ | 0.88 |
Common stock equivalents |  |  |  |  |  |  | 157,000 |  |  |  |  |  |  |  |  |  |  |  | 231,000 |  |  |  |  |
Diluted EPS |  | $ | 10,196,000 |  |  |  | 14,708,000 |  |  | $ | 0.69 |  |  | $ | 12,694,000 |  |  |  | 14,723,000 |  |  | $ | 0.86 |
Company's Assets Measured at Fair Value | The following table sets forth by level, within the fair value hierarchy, the Company’s assets measured at fair value as of September 30, 2019:
|  | Fair Value Measurements |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Equities |  | $ | 10,412,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,412,000 |
Mutual Funds |  |  | 3,987,000 |  |  |  | — |  |  |  | — |  |  |  | 3,987,000 |
Exchange-Traded Funds |  |  | 5,163,000 |  |  |  | — |  |  |  | — |  |  |  | 5,163,000 |
Corporate Bonds |  |  | — |  |  |  | 38,690,000 |  |  |  | — |  |  |  | 38,690,000 |
Government Securities |  |  | 45,171,000 |  |  |  | — |  |  |  | — |  |  |  | 45,171,000 |
Cash and Money Funds |  |  | 1,899,000 |  |  |  | — |  |  |  | — |  |  |  | 1,899,000 |
Total |  | $ | 66,632,000 |  |  | $ | 38,690,000 |  |  | $ | — |  |  | $ | 105,322,000 |
The following table sets forth by level, within the fair value hierarchy, the Company’s assets measured at fair value as of September 30, 2018:
|  | Fair Value Measurements |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Equities |  | $ | 11,768,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 11,768,000 |
Mutual Funds |  |  | 3,811,000 |  |  |  | — |  |  |  | — |  |  |  | 3,811,000 |
Exchange-Traded Funds |  |  | 4,148,000 |  |  |  | — |  |  |  | — |  |  |  | 4,148,000 |
Corporate Bonds |  |  | — |  |  |  | 29,884,000 |  |  |  | — |  |  |  | 29,884,000 |
Government Securities |  |  | 53,883,000 |  |  |  | — |  |  |  | — |  |  |  | 53,883,000 |
Cash and Money Funds |  |  | 564,000 |  |  |  | — |  |  |  | — |  |  |  | 564,000 |
Total |  | $ | 74,174,000 |  |  | $ | 29,884,000 |  |  | $ | — |  |  | $ | 104,058,000 |
Schedule of Changes in Allowance for Slow Moving and Obsolete Inventories | Changes in the allowance for slow - moving and obsolete inventories are as follows:
|  | 2019 |  |  | 2018 |
|  |  |  |  | (as adjusted) |
Balance, beginning of year |  | $ | 4,543,000 |  |  | $ | 4,575,000 |
Charged to cost of sales |  |  | 304,000 |  |  |  | 283,000 |
Disposal of inventory, net of recoveries |  |  | (147,000 | ) |  |  | (315,000 | )
Balance, end of year |  | $ | 4,700,000 |  |  | $ | 4,543,000 |
Estimated Useful Lives of Assets | Property and equipment are stated at cost (see Note 4). Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the related assets, as follows:
|  | Years |
Land improvements |  |  | 15 |
Buildings & improvements |  |  | 6-40 |
Equipment |  |  | 2-10 |
Disaggregation of Company's Net Revenue by Major Source | The following table disaggregates the Company’s net revenue by major source for the year s ended September 30, 2019 and 2018 :
|  | 2019 |  |  | 2018 |
Equipment sales recognized over time |  | $ | 43,489,000 |  |  | $ | 70,836,000 |
Equipment sales recognized at a point in time |  |  | 19,987,000 |  |  |  | 11,521,000 |
Parts and component sales |  |  | 13,356,000 |  |  |  | 11,580,000 |
Freight revenue |  |  | 4,130,000 |  |  |  | 4,474,000 |
Other |  |  | 367,000 |  |  |  | 203,000 |
Net revenue |  | $ | 81,329,000 |  |  | $ | 98,614,000 |
Schedule of Changes in Accrual for Warranty and Related Costs | Changes in the accrual for warranty and related costs are composed of the following:
|  | 2019 |  |  | 2018 |
Balance, beginning of year |  | $ | 400,000 |  |  | $ | 412,000 |
Warranties issued |  |  | 140,000 |  |  |  | 225,000 |
Warranties settled |  |  | (263,000 | ) |  |  | (237,000 | )
Balance, end of year |  | $ | 277,000 |  |  | $ | 400,000 |
Schedule of Changes in Allowance for Doubtful Accounts | Changes in the allowance for doubtful accounts are composed of the following:
|  | 2019 |  |  | 2018 |
Balance, beginning of year |  | $ | 313,000 |  |  | $ | 207,000 |
Provision for doubtful accounts |  |  | 175,000 |  |  |  | 210,000 |
Provision for estimated returns and allowances |  |  | 315,000 |  |  |  | 265,000 |
Uncollectible accounts writtenoff |  |  | (71,000 | ) |  |  | (76,000 | )
Returns and allowances issued |  |  | (273,000 | ) |  |  | (293,000 | )
Balance, end of year |  | $ | 459,000 |  |  | $ | 313,000 |

X
- Definition Changes in inventory reserves. + References No definition available. + Details
Name: | genc_ChangesInInventoryReservesTableTextBlock
Namespace Prefix: | genc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Estimated Useful Lives Of Assets Table [Text Block] + References No definition available. + Details
Name: | genc_EstimatedUsefulLivesOfAssetsTableTextBlock
Namespace Prefix: | genc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919249-210447 + Details
Name: | us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=68068213&loc=d3e12565-110249 + Details
Name: | us-gaap_ScheduleOfProductWarrantyLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration