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Revenue from Contracts with Customers | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | Revenue from Contracts with Customers Revenue is recognized when control of the good or service is transferred to the customer either at a point in time or, in limited circumstances, as our services are rendered over time. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or services. The following tables summarize revenue by customer industry. Our products in the automotive industry include high-precision components and assemblies for electric power steering systems, electric braking, electric motors, fuel systems, emissions control, transmissions, moldings, stampings, sensors, and electrical contacts. Our products in the general industrial industry include high-precision metal and plastic components for a variety of industrial applications including diesel industrial motors, heating and cooling systems, fluid power systems, power tools, and more. While many of the industries we serve include electrical components, our products in the residential/commercial electrical industry category in the following tables include components used in smart meters, charging stations, circuit breakers, transformers, electrical contact assemblies, precision stampings, welded contact assemblies, specification plating, and surface finishing. The other category includes products sold in aerospace, defense, medical, and other industries.
Three Months Ended June 30, 2024 | Mobile Solutions |  | Power Solutions |  | Intersegment Sales Eliminations |  | Total
Automotive | $ | 50,217 |  |  | $ | 8,066 |  |  | $ | — |  |  | $ | 58,283 |
General Industrial | 17,534 |  |  | 13,669 |  |  | — |  |  | 31,203 |
Residential/Commercial Electrical | — |  |  | 21,486 |  |  | — |  |  | 21,486 |
Other | 5,104 |  |  | 6,930 |  |  | (14) |  |  | 12,020 |
Total net sales | $ | 72,855 |  |  | $ | 50,151 |  |  | $ | (14) |  |  | $ | 122,992 |
Three Months Ended June 30, 2023 | Mobile Solutions |  | Power Solutions |  | Intersegment Sales Eliminations |  | Total
Automotive | $ | 52,961 |  |  | $ | 9,115 |  |  | $ | — |  |  | $ | 62,076 |
General Industrial | 19,228 |  |  | 13,510 |  |  | — |  |  | 32,738 |
Residential/Commercial Electrical | — |  |  | 17,608 |  |  | — |  |  | 17,608 |
Other | 4,964 |  |  | 7,829 |  |  | (9) |  |  | 12,784 |
Total net sales | $ | 77,153 |  |  | $ | 48,062 |  |  | $ | (9) |  |  | $ | 125,206 |
Six Months Ended June 30, 2024 | Mobile Solutions |  | Power Solutions |  | Intersegment Sales Eliminations |  | Total
Automotive | $ | 99,192 |  |  | $ | 16,322 |  |  | $ | — |  |  | $ | 115,514 |
General Industrial | 36,247 |  |  | 26,807 |  |  | — |  |  | 63,054 |
Residential/Commercial Electrical | — |  |  | 41,718 |  |  | — |  |  | 41,718 |
Other | 10,476 |  |  | 13,542 |  |  | (114) |  |  | 23,904 |
Total net sales | $ | 145,915 |  |  | $ | 98,389 |  |  | $ | (114) |  |  | $ | 244,190 |
Six Months Ended June 30, 2023 | Mobile Solutions |  | Power Solutions |  | Intersegment Sales Eliminations |  | Total
Automotive | $ | 108,765 |  |  | $ | 17,918 |  |  | $ | — |  |  | $ | 126,683 |
General Industrial | 39,441 |  |  | 28,115 |  |  | — |  |  | 67,556 |
Residential/Commercial Electrical | — |  |  | 32,193 |  |  | — |  |  | 32,193 |
Other | 6,965 |  |  | 18,908 |  |  | (11) |  |  | 25,862 |
Total net sales | $ | 155,171 |  |  | $ | 97,134 |  |  | $ | (11) |  |  | $ | 252,294 |
Deferred Revenue Deferred revenue relates to payments received in advance of performance under the contract and recognized as revenue as (or when) we perform under the contract. The balance of deferred revenue was $0.2 million and $0.4 million as of June 30, 2024 and December 31, 2023, respectively. Revenue recognized for performance obligations satisfied or partially satisfied during the six months ended June 30, 2024 included $0.4 million that was included in deferred revenue as of December 31, 2023. Transaction Price Allocated to Future Performance Obligations We are required to disclose the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied as of June 30, 2024, unless our contracts meet one of the practical expedients. Our contracts met the practical expedient for a performance obligation that is part of a contract that has an original expected duration of one year or less.

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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 -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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