| Schedule of Error Corrections and Prior Period Adjustments |
The effect of correcting the immaterial error in the condensed consolidated financial statements for the three and six month periods ended July 1, 2023 is shown in the following table:
|
|
|
|
|
|
|
|
|
|
|
|
|
As previously reported |
Correction |
As adjusted |
| Condensed Consolidated Statements of Operations and Comprehensive Income |
|
|
|
| Three Months Ended July 2, 2022 |
|
|
|
| Product Revenues |
$ |
213,969 |
|
$ |
5,053 |
|
$ |
219,022 |
|
| Service Revenues |
33,745 |
|
(5,053) |
|
28,692 |
|
|
$ |
247,714 |
|
$ |
— |
|
$ |
247,714 |
|
| Six Months Ended July 2, 2022 |
|
|
|
| Product Revenues |
411,274 |
|
9,575 |
|
420,849 |
|
| Service Revenues |
65,960 |
|
(9,575) |
|
56,385 |
|
|
$ |
477,234 |
|
$ |
— |
|
$ |
477,234 |
|
| Footnote 13. Revenue Recognition |
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|
|
| Reportable Segments by Timing of Revenue Recognition |
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|
|
| Three Months Ended July 2, 2022 |
|
|
|
Janus North America |
|
|
|
| Product revenues transferred at a point in time |
$ |
215,865 |
|
$ |
(19,922) |
|
$ |
195,943 |
|
| Product revenues transferred over time |
— |
|
24,975 |
|
24,975 |
|
| Services revenues transferred over time |
25,597 |
|
(5,053) |
|
20,544 |
|
|
$ |
241,462 |
|
$ |
— |
|
$ |
241,462 |
|
| Six Months Ended July 2, 2022 |
|
|
|
Janus North America |
|
|
|
| Product revenues transferred at a point in time |
$ |
416,023 |
|
$ |
(43,180) |
|
$ |
372,843 |
|
| Product revenues transferred over time |
— |
|
52,754 |
|
52,754 |
|
| Services revenues transferred over time |
50,696 |
|
(9,574) |
|
41,122 |
|
|
$ |
466,719 |
|
$ |
— |
|
$ |
466,719 |
|
|
| Schedule of Accounts Receivable, Allowance for Credit Loss |
The activity for the allowance for credit losses during the six months ended July 1, 2023 and the fiscal year ended December 31, 2022, is as follows:
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|
|
|
|
|
|
|
|
|
|
|
|
July 1, 2023 |
|
December 31, 2022 |
| Balance at beginning of period |
$ |
4,549 |
|
|
$ |
5,449 |
|
CECL Adoption (1)
|
— |
|
|
366 |
|
| Write-offs |
(4) |
|
|
(2,949) |
|
| Provision (reversal), net |
844 |
|
|
1,683 |
|
| Balance at end of period |
$ |
5,389 |
|
|
$ |
4,549 |
|
(1) On January 2, 2022, the Company adopted the provisions of ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (Topic 326), which introduced a new model known as CECL.
|
| Schedule of Product Warranty Liability |
The activity related to product warranty liabilities recorded in Accrued expenses and other current liabilities, during the six months ended July 1, 2023 and the fiscal year ended December 31, 2022, is as follows:
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|
|
|
|
|
|
|
|
|
|
|
|
July 1, 2023 |
|
December 31, 2022 |
| Balance at beginning of period |
$ |
876 |
|
|
$ |
736 |
|
| Aggregate changes in the product warranty liability |
608 |
|
|
140 |
|
| Balance at end of period |
$ |
1,484 |
|
|
$ |
876 |
|
|