Revenue from Contract with Customer [Text Block] | 3 Most of the Company’s contracts have a single performance obligation which represents the product or service being sold to the customer. Some contracts include multiple performance obligations such as a product and the related installation and/or extended warranty. Additionally, most of the Company’s contracts offer assurance type warranties in connection with the sale of a product to customers. Assurance type warranties provide a customer with assurance that the product complies with agreed-upon specifications. Assurance type warranties do not In general, the Company recognizes revenue at the point in time control transfers to its customer based on predetermined shipping terms. Revenue is recognized over time under certain long-term contracts within the Engineering Technologies and Engraving groups for highly customized customer products that have no Disaggregation of Revenue from Contracts with Customers The following table presents revenue disaggregated by product line and segment (in thousands): Three Months Ended Revenue by Product Line March 31, 2022 March 31, 2021 Electronics $ 79,889 $ 65,085 Engraving Services 34,399 33,655 Engraving Products 2,824 2,371 Total Engraving 37,223 36,026 Scientific 18,914 24,221 Engineering Technologies 20,890 19,951 Hydraulics Cylinders and Systems 15,306 13,629 Merchandising & Display 8,438 6,276 Pumps 8,621 7,028 Total Specialty Solutions 32,365 26,933 Total revenue by product line $ 189,281 $ 172,216 The following table presents revenue disaggregated by product line and segment (in thousands): Nine Months Ended Revenue by Product Line March 31, 2022 March 31, 2021 Electronics $ 232,351 $ 180,524 Engraving Services 101,637 102,950 Engraving Products 7,400 7,427 Total Engraving 109,037 110,377 Scientific 65,079 58,777 Engineering Technologies 56,558 55,091 Hydraulics Cylinders and Systems 39,207 36,583 Merchandising & Display 23,548 19,515 Pumps 24,820 18,930 Total Specialty Solutions 87,575 75,028 Total revenue by product line $ 550,600 $ 479,797 The following table presents revenue from continuing operations disaggregated by geography based on company’s locations (in thousands): Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended Net sales March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 United States $ 110,076 $ 103,005 $ 314,657 $ 286,522 Asia Pacific 37,441 31,715 116,842 89,189 EMEA (1) 37,963 34,367 108,841 93,549 Other Americas 3,801 3,129 10,260 10,537 Total $ 189,281 $ 172,216 $ 550,600 $ 479,797 ( 1 The following table presents revenue from continuing operations disaggregated by timing of recognition (in thousands) for the three Three Months Ended Timing of Revenue Recognition March 31, 2022 March 31, 2021 Products and services transferred at a point in time $ 170,949 $ 163,356 Products transferred over time 18,332 8,860 Net sales $ 189,281 $ 172,216 Nine Months Ended Timing of Revenue Recognition March 31, 2022 March 31, 2021 Products and services transferred at a point in time $ 510,988 $ 454,007 Products transferred over time 39,612 25,790 Net sales $ 550,600 $ 479,797 Contract Balances Contract assets represent sales recognized in excess of billings related to work completed but not not The timing of revenue recognition, invoicing and cash collections results in billed receivables, contract assets and contract liabilities on the consolidated balance sheets. When consideration is received from a customer prior to transferring goods or services to the customer under the terms of a contract, a contract liability is recorded. Contract liabilities are recognized as revenue after control of the goods and services are transferred to the customer and all revenue recognition criteria have been met. The following table provides information about contract assets and liability balances (in thousands): Balance at Beginning of Period Additions Amount Recognized Balance at End of Period Nine months ended March 31, 2022 Contract assets: Prepaid expenses and other current assets $ 15,013 $ 35,091 $ 25,711 $ 24,393 Contract liabilities: Customer deposits 471 10,293 10,721 43 Balance at Beginning of Period Additions Amount Recognized Balance at End of Period Nine months ended March 31, 2021 Contract assets: Prepaid expenses and other current assets $ 9,140 $ 21,055 $ 18,422 $ 11,773 Contract liabilities: Customer deposits 2,298 6,497 7,871 924 We recognized the following revenue which was included in the contract liability beginning balances (in thousands): March 31, 2022 Revenue recognized in the period from: Three months ended Nine months ended Amounts included in the contract liability balance at the beginning of the period $ 252 $ 471 March 31, 2021 Revenue recognized in the period from: Three months ended Nine months ended Amounts included in the contract liability balance at the beginning of the period $ 365 $ 2,298 |