XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.21.2

Revenue from Contracts with Customers | 6 Months Ended
--- | ---
Oct. 31, 2021
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 two business segments: mattress fabrics and upholstery fabrics. 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. In addition, the upholstery fabrics segment includes Read Window Products LLC (“Read”), which provides window treatments and sourcing of upholstery fabrics and other products, as well as measuring and installation services for Read’s products, to customers in the hospitality and commercial industries. Read also supplies soft goods such as decorative top sheets, coverlets, duvet covers, bed skirts, bolsters, and pillows. Our primary performance obligations include the sale of mattress fabrics and upholstery fabrics, 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 associated with Read, 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 - 60 days. For a limited time, extended terms were granted to certain customers in response to the challenging business conditions resulting from the COVID-19 global pandemic. Our customary terms, as well as any limited extended terms, are common within the industries in which we operate and are not considered financing arrangements. There were no contract assets recognized as of October 31, 2021, November 1, 2020, and May 2, 2021. A summary of the activity associated with deferred revenue follows:
|  | Six months ended |
(dollars in thousands) |  | October 31, 2021 |  |  | November 1, 2020 |
Beginning balance |  | $ | 540 |  |  | $ | 502 |
Revenue recognized on contract liabilities |  |  | (1,445 | ) |  |  | (1,197 | )
Payments received for services not yet rendered |  |  | 1,584 |  |  |  | 1,070 |
Ending balance |  | $ | 679 |  |  | $ | 375 |
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 October 31, 2021:
|  | Mattress |  |  | Upholstery |  |  |  |  |
(dollars in thousands) |  | Fabrics |  |  | Fabrics |  |  | Total |
Products transferred at a point in time |  | $ | 40,883 |  |  | $ | 31,415 |  |  | $ | 72,298 |
Services transferred over time |  |  | — |  |  |  | 2,263 |  |  |  | 2,263 |
Total Net Sales |  | $ | 40,883 |  |  | $ | 33,678 |  |  | $ | 74,561 |
The following table presents our disaggregated revenue by segment, timing of revenue recognition, and product sales versus services rendered for the six-month period ending October 31, 2021:
|  | Mattress |  |  | Upholstery |  |  |  |  |
(dollars in thousands) |  | Fabrics |  |  | Fabrics |  |  | Total |
Products transferred at a point in time |  | $ | 83,941 |  |  | $ | 69,705 |  |  | $ | 153,646 |
Services transferred over time |  |  | — |  |  |  | 3,962 |  |  |  | 3,962 |
Total Net Sales |  | $ | 83,941 |  |  | $ | 73,667 |  |  | $ | 157,608 |
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 November 1, 2020:
|  | Mattress |  |  | Upholstery |  |  |  |  |
(dollars in thousands) |  | Fabrics |  |  | Fabrics |  |  | Total |
Products transferred at a point in time |  | $ | 40,030 |  |  | $ | 34,666 |  |  | $ | 74,696 |
Services transferred over time |  |  | — |  |  |  | 2,155 |  |  |  | 2,155 |
Total Net Sales |  | $ | 40,030 |  |  | $ | 36,821 |  |  | $ | 76,851 |
The following table presents our disaggregated revenue by segment, timing of revenue recognition, and product sales versus services rendered for the six-month period ending November 1, 2020:
|  | Mattress |  |  | Upholstery |  |  |  |  |
(dollars in thousands) |  | Fabrics |  |  | Fabrics |  |  | Total |
Products transferred at a point in time |  | $ | 76,133 |  |  | $ | 60,727 |  |  | $ | 136,860 |
Services transferred over time |  |  | — |  |  |  | 4,455 |  |  |  | 4,455 |
Total Net Sales |  | $ | 76,133 |  |  | $ | 65,182 |  |  | $ | 141,315 |

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

X
- 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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration