XML 56 R43.htm IDEA: XBRL DOCUMENT
v3.20.4

Segment Information (Tables) | 9 Months Ended
--- | ---
Jan. 31, 2021
Segment Reporting [Abstract] |
Schedule of Operating Segments Information | Statements of operations for our current operating segments are as follows:
|  | Three months ended |
|  | January 31, 2021 |  |  | February 2, 2020 |
net sales by segment: |  |  |  |  |  |  |  |
mattress fabrics |  | $ | 38,600 |  |  | $ | 33,531 |
upholstery fabrics |  |  | 40,741 |  |  |  | 34,987 |
net sales |  | $ | 79,341 |  |  | $ | 68,518 |
gross profit from continuing operations by segment: |  |  |  |  |  |  |  |
mattress fabrics |  | $ | 6,458 |  |  | $ | 4,614 |
upholstery fabrics |  |  | 7,414 |  |  |  | 6,906 |
gross profit from continuing operations |  | $ | 13,872 |  |  | $ | 11,520 |
selling, general, and administrative expenses by segment: |  |  |  |  |  |  |  |
mattress fabrics |  | $ | 3,161 |  |  | $ | 2,836 |
upholstery fabrics |  |  | 3,551 |  |  |  | 3,876 |
unallocated corporate expenses |  |  | 3,123 |  |  |  | 2,119 |
selling, general, and administrative expenses |  | $ | 9,835 |  |  | $ | 8,831 |
income (loss) from continuing operations by segment: |  |  |  |  |  |  |  |
mattress fabrics |  | $ | 3,297 |  |  | $ | 1,778 |
upholstery fabrics |  |  | 3,863 |  |  |  | 3,030 |
unallocated corporate expenses |  |  | (3,123 | ) |  |  | (2,119 | )
subtotal |  |  | 4,037 |  |  |  | 2,689 |
restructuring credit |  |  | — |  |  |  | 35 |
total income from continuing operations |  |  | 4,037 |  |  |  | 2,724 |
interest income |  |  | 90 |  |  |  | 258 |
other expense |  |  | (1,010 | ) |  |  | (282 | )
income before income taxes from continuing operations |  | $ | 3,117 |  |  | $ | 2,700 |
|  | Nine months ended |
|  | January 31, 2021 |  |  | February 2, 2020 |
net sales by segment: |  |  |  |  |  |  |  |
mattress fabrics |  | $ | 114,733 |  |  | $ | 108,057 |
upholstery fabrics |  |  | 105,923 |  |  |  | 100,730 |
net sales |  | $ | 220,656 |  |  | $ | 208,787 |
gross profit from continuing operations by segment: |  |  |  |  |  |  |  |
mattress fabrics |  | $ | 18,650 |  |  | $ | 16,553 |
upholstery fabrics |  |  | 19,385 |  |  |  | 20,905 |
gross profit from continuing operations |  | $ | 38,035 |  |  | $ | 37,458 |
selling, general, and administrative expenses by segment: |  |  |  |  |  |  |  |
mattress fabrics |  | $ | 9,125 |  |  | $ | 8,860 |
upholstery fabrics |  |  | 10,122 |  |  |  | 11,528 |
unallocated corporate expenses |  |  | 8,350 |  |  |  | 6,709 |
selling, general, and administrative expenses |  | $ | 27,597 |  |  | $ | 27,097 |
income (loss) from continuing operations by segment: |  |  |  |  |  |  |  |
mattress fabrics |  | $ | 9,525 |  |  | $ | 7,692 |
upholstery fabrics |  |  | 9,263 |  |  |  | 9,378 |
unallocated corporate expenses |  |  | (8,350 | ) |  |  | (6,709 | )
subtotal |  |  | 10,438 |  |  |  | 10,361 |
restructuring credit |  |  | — |  |  |  | 70 |
total income from continuing operations |  |  | 10,438 |  |  |  | 10,431 |
interest expense |  |  | (51 | ) |  |  | (21 | )
interest income |  |  | 208 |  |  |  | 776 |
other expense |  |  | (2,057 | ) |  |  | (476 | )
income before income taxes from continuing operations |  | $ | 8,538 |  |  | $ | 10,710 |
Balance sheet information for our current operating segments follows:
(dollars in thousands) |  | January 31, 2021 |  |  | February 2, 2020 |  |  | May 3, 2020 |
Segment assets: |  |  |  |  |  |  |  |  |  |  |  |
Mattress Fabrics |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 17,722 |  |  | $ | 12,940 |  |  | $ | 12,212 |
Inventory |  |  | 30,326 |  |  |  | 29,753 |  |  |  | 26,620 |
Property, plant and equipment (1) |  |  | 39,550 |  |  |  | 42,368 |  |  |  | 40,682 |
Right of use assets (2) |  |  | 1,077 |  |  |  | 426 |  |  |  | 362 |
Investment in unconsolidated joint venture |  |  | 1,723 |  |  |  | 1,668 |  |  |  | 1,602 |
Total mattress fabrics assets |  |  | 90,398 |  |  |  | 87,155 |  |  |  | 81,478 |
Upholstery Fabrics |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  |  | 18,675 |  |  |  | 12,908 |  |  |  | 12,881 |
Inventory |  |  | 27,468 |  |  |  | 24,256 |  |  |  | 21,287 |
Property, plant and equipment (3) |  |  | 1,953 |  |  |  | 1,675 |  |  |  | 1,633 |
Right of use assets (4) |  |  | 3,519 |  |  |  | 2,143 |  |  |  | 1,633 |
Total upholstery fabrics assets |  |  | 51,615 |  |  |  | 40,982 |  |  |  | 37,434 |
Total segment assets |  |  | 142,013 |  |  |  | 128,137 |  |  |  | 118,912 |
Non-segment assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 35,987 |  |  |  | 21,640 |  |  |  | 69,790 |
Short-term investments - available for sale |  |  | 5,548 |  |  |  | 7,580 |  |  |  | 923 |
Short-term investments - held-to-maturity |  |  | 9,785 |  |  |  | 3,171 |  |  |  | 4,271 |
Current income taxes receivable |  |  | — |  |  |  | 776 |  |  |  | 1,585 |
Current assets - discontinued operation |  |  | — |  |  |  | 4,738 |  |  |  | — |
Other current assets |  |  | 3,116 |  |  |  | 3,112 |  |  |  | 2,116 |
Deferred income taxes |  |  | 640 |  |  |  | 920 |  |  |  | 793 |
Property, plant and equipment (5) |  |  | 882 |  |  |  | 609 |  |  |  | 832 |
Right of use assets (6) |  |  | 1,610 |  |  |  | 2,005 |  |  |  | 1,908 |
Goodwill |  |  | — |  |  |  | 13,569 |  |  |  | — |
Intangible assets |  |  | 3,098 |  |  |  | 3,617 |  |  |  | 3,380 |
Long-term investments - rabbi trust |  |  | 8,232 |  |  |  | 7,804 |  |  |  | 7,834 |
Long-term investments - held-to-maturity |  |  | 512 |  |  |  | 2,224 |  |  |  | 2,076 |
Noncurrent income taxes receivable |  |  | — |  |  |  | 733 |  |  |  | — |
Other assets |  |  | 555 |  |  |  | 464 |  |  |  | 664 |
Long-term note receivable affiliated with discontinued operation |  |  | — |  |  |  | 1,800 |  |  |  | — |
Noncurrent assets - discontinued operation |  |  | — |  |  |  | 9,241 |  |  |  | — |
Total assets |  | $ | 211,978 |  |  | $ | 212,140 |  |  | $ | 215,084 |
|  | Nine months ended |
(dollars in thousands) |  | January 31, 2021 |  |  | February 2, 2020 |
Capital expenditures (7): |  |  |  |  |  |  |  |
Mattress Fabrics |  | $ | 3,886 |  |  | $ | 3,416 |
Upholstery Fabrics |  |  | 259 |  |  |  | 253 |
Unallocated Corporate |  |  | 308 |  |  |  | 398 |
Discontinued Operation |  |  | — |  |  |  | 104 |
Total capital expenditures |  | $ | 4,453 |  |  | $ | 4,171 |
Depreciation expense: |  |  |  |  |  |  |  |
Mattress Fabrics |  | $ | 4,579 |  |  | $ | 5,017 |
Upholstery Fabrics |  |  | 624 |  |  |  | 577 |
Discontinued Operation |  |  | — |  |  |  | 286 |
Total depreciation expense |  | $ | 5,203 |  |  | $ | 5,880 |
(1) | The $39.6 million as of January 31, 2021, represents property, plant, and equipment of $27.3 million and $12.3 million located in the U.S. and Canada, respectively. The $42.4 million as of February 2, 2020, represents property, plant, and equipment of $28.7 million and $13.7 million located in the U.S. and Canada, respectively. The $40.7 million as of May 3, 2020, represents property, plant, and equipment of $27.7 million and $13.0 million located in the U.S. and Canada, respectively.
(2) | The $1.1 million as of January 31, 2021, represents right of use assets of $632,000 and $445,000 located in the U.S. and Canada, respectively. The $426,000 as of February 2, 2020, and the $362,000 as of May 3, 2020, represents right of use assets located in the U.S.
(3) | The $2.0 million as of January 31, 2021, represents property, plant, and equipment of $1.1 million and $881,000 located in the U.S. and China, respectively. The $1.7 million as of February 2, 2020, represents property, plant, and equipment of $1.2 million and $469,000 located in the U.S. and China, respectively. The $1.6 million as of May 3, 2020, represents property, plant, and equipment of $1.2 million and $471,000 located in the U.S. and China, respectively.
(4) | The $3.5 million as of January 31, 2021, represents right of use assets of $2.4 million and $1.1 million located in China and the U.S., respectively. The $2.1 million as of February 2, 2020, represents right of use assets of $1.1 million and $1.0 million located in China and the U.S., respectively. The $1.6 million as of May 3, 2020, represents right of use assets of $857,000 and $776,000 located in the U.S. and China, respectively.
(5) | The $882,000, $609,000 and $832,000 as of January 31, 2021, February 2, 2020, and May 3, 2020, respectively, represent property, plant, and equipment associated with unallocated corporate departments and corporate departments shared by our mattress fabrics and upholstery fabrics segments. Property, plant, and equipment associated with our corporate departments reside in the U.S.
(6) | The $1.6 million, $2.0 million, and $1.9 million as of January 31, 2021, February 2, 2020, and May 3, 2020, respectively, represent right of use assets located in the U.S.
(7) | Capital expenditure amounts are stated on the accrual basis. See Consolidated Statements of Cash Flows for capital expenditure amounts on a cash basis.

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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