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Revenue from Contracts with Customers | 9 Months Ended
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Feb. 02, 2020
Revenue From Contract With Customer [Abstract] |
Revenue from Contracts with Customers | 5. Revenue from Contracts with Customers Nature of Performance Obligations Our operations are classified into three business segments: mattress fabrics, upholstery fabrics, and home accessories. The mattress fabrics segment manufactures, sources, and sells fabrics and mattress covers primarily to bedding manufacturers. The upholstery fabrics segment develops, manufactures, sources, and sells fabrics primarily to residential and commercial furniture manufacturers. Effective April 1, 2018, we acquired Read Window Products LLC (Read), a turn-key provider of window treatments that offers sourcing of upholstery fabrics and other products, measuring, and installation services of their own products for the hospitality and commercial industries. In addition, Read supplies soft goods such as decorative top sheets, coverlets, duvet covers, bed skirts, bolsters, and pillows. Read is included in the upholstery fabrics segment. The home accessories segment is our finished products business that manufactures, sources, and sells bedding accessories and home goods directly to consumers and businesses through global e-commerce and business-to-business sales channels. Our primary performance obligations include the sale of mattress fabrics, upholstery fabrics, and bedding and home accessories products, as well as the performance of customized fabrication and installation services of our own products associated with window treatments. Contract Assets & Liabilities Certain contracts, primarily those for customized fabrication and installation services, require upfront customer deposits that result in a contract liability which is recorded on the Consolidated Balance Sheets as deferred revenue. If upfront deposits or prepayments are not required, customers may be granted credit terms which generally range from 15 – 45 days. Such terms are common within the industries in which we operate and are not considered financing arrangements. There were no contract assets recognized as of February 2, 2020, January 27, 2019, and April 28, 2019. A summary of the activity of deferred revenue for the nine-month periods ended February 2, 2020, and January 27, 2019, follows:
|  | Nine months ended |
(dollars in thousands) |  | February 2, 2020 |  |  | January 27, 2019 |
Beginning balance |  | $ | 399 |  |  | $ | 809 |
Revenue recognized on contract liabilities |  |  | (1,917 | ) |  |  | (2,171 | )
Payments received for services not yet rendered |  |  | 1,916 |  |  |  | 1,854 |
Ending balance |  | $ | 398 |  |  | $ | 492 |
Disaggregation of Revenue The following table presents our disaggregated revenue by segment, timing of revenue recognition, and product sales versus services rendered for the three-month period ending February 2, 2020:
(dollars in thousands) |  | Mattress Fabrics |  |  | Upholstery Fabrics |  |  | Home Accessories |  |  | Total |
Products transferred at a point in time |  | $ | 33,105 |  |  | $ | 32,044 |  |  | $ | 3,906 |  |  | $ | 69,055 |
Services transferred over time |  |  | — |  |  |  | 2,943 |  |  |  | — |  |  |  | 2,943 |
Total Net Sales |  | $ | 33,105 |  |  | $ | 34,987 |  |  | $ | 3,906 |  |  | $ | 71,998 |
The following table presents our disaggregated revenue by segment, timing of revenue recognition, and product sales versus services rendered for the nine-month period ending February 2, 2020:
(dollars in thousands) |  | Mattress Fabrics |  |  | Upholstery Fabrics |  |  | Home Accessories |  |  | Total |
Products transferred at a point in time |  | $ | 107,250 |  |  | $ | 92,835 |  |  | $ | 11,485 |  |  | $ | 211,570 |
Services transferred over time |  |  | — |  |  |  | 7,895 |  |  |  | — |  |  |  | 7,895 |
Total Net Sales |  | $ | 107,250 |  |  | $ | 100,730 |  |  | $ | 11,485 |  |  | $ | 219,465 |
The following table presents our disaggregated revenue by segment, timing of revenue recognition, and product sales versus services rendered for the three-month period ending January 27, 2019:
(dollars in thousands) |  | Mattress Fabrics |  |  | Upholstery Fabrics |  |  | Home Accessories |  |  | Total |
Products transferred at a point in time |  | $ | 35,732 |  |  | $ | 34,730 |  |  | $ | 4,390 |  |  | $ | 74,852 |
Services transferred over time |  |  | — |  |  |  | 2,374 |  |  |  | — |  |  |  | 2,374 |
Total Net Sales |  | $ | 35,732 |  |  | $ | 37,104 |  |  | $ | 4,390 |  |  | $ | 77,226 |
The following table presents our disaggregated revenue by segment, timing of revenue recognition, and product sales versus services rendered for the nine-month period ending January 27, 2019:
(dollars in thousands) |  | Mattress Fabrics |  |  | Upholstery Fabrics |  |  | Home Accessories |  |  | Total |
Products transferred at a point in time |  | $ | 107,335 |  |  | $ | 98,610 |  |  | $ | 11,759 |  |  | $ | 217,704 |
Services transferred over time |  |  | — |  |  |  | 8,001 |  |  |  | — |  |  |  | 8,001 |
Total Net Sales |  | $ | 107,335 |  |  | $ | 106,611 |  |  | $ | 11,759 |  |  | $ | 225,705 |

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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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