2021 Q1 Form 10-K Financial Statement

#000156459021027539 Filed on May 13, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2021 2020 Q3
Revenue $162.5M $563.6M $128.0M
YoY Change 60.79% 42.72% 41.87%
Cost Of Revenue $120.2M $405.1M $90.00M
YoY Change 65.79% 42.07% 35.34%
Gross Profit $42.37M $158.5M $38.08M
YoY Change 48.48% 44.43% 60.19%
Gross Profit Margin 26.07% 28.13% 29.74%
Selling, General & Admin $32.00M $180.9M $24.60M
YoY Change 13.48% 26.04% -7.17%
% of Gross Profit 75.53% 114.11% 64.61%
Research & Development $6.000M $7.940M $1.666M
YoY Change 5.26% 2.48% -12.27%
% of Gross Profit 14.16% 5.01% 4.38%
Depreciation & Amortization $2.800M $11.03M $2.747M
YoY Change -17.65% -11.01% -10.29%
% of Gross Profit 6.61% 6.96% 7.21%
Operating Expenses $37.90M $136.1M $29.56M
YoY Change 11.47% -15.0% 1456.56%
Operating Profit $4.468M $22.48M $8.517M
YoY Change -181.74% -144.69% -61.06%
Interest Expense $1.800M $825.0K -$15.00K
YoY Change 28.57% 3.25% -106.67%
% of Operating Profit 40.29% 3.67% -0.18%
Other Income/Expense, Net $1.100M $746.0K -$392.0K
YoY Change 266.67% -68.01% -171.66%
Pretax Income $6.000M $27.64M $9.164M
YoY Change -117.65% -167.51% -251.5%
Income Tax -$2.500M $4.272M $2.609M
% Of Pretax Income -41.67% 15.46% 28.47%
Net Earnings $9.448M $26.77M $7.340M
YoY Change -143.35% -201.23% -223.07%
Net Earnings / Revenue 5.81% 4.75% 5.73%
Basic Earnings Per Share $0.39 $1.11 $0.30
Diluted Earnings Per Share $0.38 $1.09 $0.30
COMMON SHARES
Basic Shares Outstanding 24.20M 24.22M
Diluted Shares Outstanding 24.65M 24.55M

Balance Sheet

Concept 2021 Q1 2021 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.40M $59.40M $45.90M
YoY Change 58.82% 58.82% 16.79%
Cash & Equivalents $59.40M $59.40M $45.90M
Short-Term Investments
Other Short-Term Assets $22.30M $22.30M $14.30M
YoY Change 104.59% 104.59% 48.96%
Inventory $130.8M $130.8M $126.4M
Prepaid Expenses
Receivables $106.2M $106.2M $104.6M
Other Receivables $700.0K $700.0K $1.000M
Total Short-Term Assets $319.3M $319.3M $292.2M
YoY Change 46.61% 46.6% 25.19%
LONG-TERM ASSETS
Property, Plant & Equipment $52.03M $56.60M $57.80M
YoY Change 1.17% 3.66% -7.07%
Goodwill $58.31M $58.38M
YoY Change 6.02%
Intangibles $90.10M $94.35M
YoY Change 2.06%
Long-Term Investments $23.27M $25.00M $24.10M
YoY Change 6.13% 3.31% -0.41%
Other Assets $1.323M $1.400M $1.600M
YoY Change -19.23% -17.65% -20.0%
Total Long-Term Assets $231.5M $231.5M $236.3M
YoY Change 3.45% 3.44% -8.76%
TOTAL ASSETS
Total Short-Term Assets $319.3M $319.3M $292.2M
Total Long-Term Assets $231.5M $231.5M $236.3M
Total Assets $550.8M $550.8M $528.5M
YoY Change 24.74% 24.73% 7.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $61.83M $61.80M $58.40M
YoY Change 179.81% 179.64% 72.78%
Accrued Expenses $78.30M $62.00M $62.80M
YoY Change 71.33% 68.48% 35.34%
Deferred Revenue $4.178M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $500.0K $900.0K $959.0K
YoY Change -54.83% -47.06% -86.86%
Total Short-Term Liabilities $146.8M $146.8M $129.5M
YoY Change 106.69% 106.76% 45.67%
LONG-TERM LIABILITIES
Long-Term Debt $6.614M $9.500M $27.20M
YoY Change -7.03% 2.15% 268.35%
Other Long-Term Liabilities $5.255M $11.80M $14.10M
YoY Change 59.53% 28.26% 78.48%
Total Long-Term Liabilities $11.87M $21.30M $27.20M
YoY Change 14.04% 15.14% 268.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $146.8M $146.8M $129.5M
Total Long-Term Liabilities $11.87M $21.30M $27.20M
Total Liabilities $171.5M $143.4M $150.5M
YoY Change 88.74% 119.27% 59.26%
SHAREHOLDERS EQUITY
Retained Earnings $148.9M
YoY Change 21.92%
Common Stock $300.4M
YoY Change 0.39%
Preferred Stock
YoY Change
Treasury Stock (at cost) $23.92M
YoY Change 0.0%
Treasury Stock Shares $2.749M $2.749M
Shareholders Equity $407.4M $407.4M $378.1M
YoY Change
Total Liabilities & Shareholders Equity $550.8M $550.8M $528.5M
YoY Change 24.74% 24.73% 7.33%

Cashflow Statement

Concept 2021 Q1 2021 2020 Q3
OPERATING ACTIVITIES
Net Income $9.448M $26.77M $7.340M
YoY Change -143.35% -201.23% -223.07%
Depreciation, Depletion And Amortization $2.800M $11.03M $2.747M
YoY Change -17.65% -11.01% -10.29%
Cash From Operating Activities $39.20M $36.61M -$12.40M
YoY Change 71.18% -3728.44% -27.91%
INVESTING ACTIVITIES
Capital Expenditures $600.0K $2.907M -$500.0K
YoY Change -185.71% -0.24% -16.67%
Acquisitions $11.00M
YoY Change -33.33%
Other Investing Activities $0.00 -$10.96M -$11.00M
YoY Change -100.0% 188.42%
Cash From Investing Activities $600.0K -$13.87M -$11.50M
YoY Change -103.64% 106.66% 1816.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -200.0K -1.940M -200.0K
YoY Change -80.0% -84.59% -93.55%
NET CHANGE
Cash From Operating Activities 39.20M 36.61M -12.40M
Cash From Investing Activities 600.0K -13.87M -11.50M
Cash From Financing Activities -200.0K -1.940M -200.0K
Net Change In Cash 39.60M 21.98M -24.10M
YoY Change 633.33% -205.61% 15.31%
FREE CASH FLOW
Cash From Operating Activities $39.20M $36.61M -$12.40M
Capital Expenditures $600.0K $2.907M -$500.0K
Free Cash Flow $38.60M $33.70M -$11.90M
YoY Change 63.56% -959.14% -28.31%

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CY2021 us-gaap Nature Of Operations
NatureOfOperations
<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:7.69%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"> </p></td> <td style="width:7.69%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">a)</span></p></td> <td valign="top"> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"><span style="font-style:italic;text-decoration:underline;">Description of Business</span></p></td></tr></table></div> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;margin-left:15.38%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">VOXX International Corporation ("Voxx," "We," "Our," "Us" or the “Company") is a leading international manufacturer and distributor in the Automotive Electronics, Consumer Electronics, and Biometrics industries. The Company has widely diversified interests, with more than 30 global brands that it has acquired and grown throughout the years, achieving a powerful international corporate image, and creating a vehicle for each of these respective brands to emerge with its own identity. We conduct our business through nineteen wholly-owned subsidiaries: Audiovox Atlanta Corp., VOXX Electronics Corporation, VOXX Accessories Corp., VOXX German Holdings GmbH ("Voxx Germany"), Audiovox Canada Limited, Voxx Hong Kong Ltd., Audiovox International Corp., Audiovox Mexico, S. de R.L. de C.V. ("Voxx Mexico"), Code Systems, Inc.,  Oehlbach Kabel GmbH ("Oehlbach"), Schwaiger GmbH ("Schwaiger"), Invision Automotive Systems, Inc. ("Invision"), Premium Audio Company LLC ("Klipsch"), Omega Research and Development, LLC ("Omega"), Voxx Automotive Corp., Audiovox Websales LLC, VSM-Rostra LLC (“VSM”), VOXX DEI LLC, and VOXX DEI Canada LLC (collectively, with VOXX DEI LLC, “DEI”), as well as a majority-owned subsidiary, EyeLock LLC ("EyeLock"). We market our products under the Audiovox® brand name, other brand names and licensed brands, such as 808®, Acoustic Research®, Advent®, Avital®, Car Link®, Chapman®, Clifford®, Code-Alarm®, Crimestopper<sup style="font-size:85%;line-height:120%;vertical-align:top">™</sup>, Discwasher®, Energy®, Heco®, Invision®, Jamo®, Klipsch®, Mac Audio<sup style="font-size:85%;line-height:120%;vertical-align:top">™</sup>, Magnat®, Mirage®, myris®, Oehlbach®, Omega®, Prestige®, Project Nursery®, Python®, RCA®, RCA Accessories®, Rosen®, Rostra®, Schwaiger®, Smart Start®, Terk®, Vehicle Safety Automotive, Viper®, and Voxx Automotive, as well as private labels through a large domestic and international distribution network.  We also function as an OEM ("Original Equipment Manufacturer") supplier to several customers, as well as market a number of products under exclusive distribution agreements, such as SiriusXM satellite radio products and Onkyo and Pioneer products in North America.</p> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;margin-left:15.38%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company's fiscal year ends on the last day of February.</p>
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:7.69%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"> </p></td> <td style="width:7.69%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">c)</span></p></td> <td valign="top"> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"><span style="font-style:italic;text-decoration:underline;">Use of Estimates</span></p></td></tr></table></div> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;margin-left:15.38%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of these consolidated financial statements requires the Company to make estimates and assumptions that affect reported amounts of assets, liabilities, revenue, and expenses.  Such estimates include revenue recognition; accrued sales incentives; the allowance for doubtful accounts; inventory valuation; valuation of long-lived assets; valuation and impairment assessment of  goodwill, trademarks, and other intangible assets; warranty reserves; stock-based compensation; recoverability of deferred tax assets; and the reserve for uncertain tax positions at the date of the consolidated financial statements. Actual results could differ from those estimates.</p>
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
59404000
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
37425000
CY2018Q1 voxx Percentage Of Participation Exemption On Dividends Received From Foreign Corporations
PercentageOfParticipationExemptionOnDividendsReceivedFromForeignCorporations
1
CY2021Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
59404000
CY2021Q1 us-gaap Cash Flow Hedges Derivative Instruments At Fair Value Net
CashFlowHedgesDerivativeInstrumentsAtFairValueNet
-765000
CY2020Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
37425000
CY2020Q1 us-gaap Cash Flow Hedges Derivative Instruments At Fair Value Net
CashFlowHedgesDerivativeInstrumentsAtFairValueNet
-476000
CY2020Q1 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
2282000
CY2021Q1 us-gaap Cash Flow Hedges Derivative Instruments At Fair Value Net
CashFlowHedgesDerivativeInstrumentsAtFairValueNet
-765000
CY2020Q1 us-gaap Cash Flow Hedges Derivative Instruments At Fair Value Net
CashFlowHedgesDerivativeInstrumentsAtFairValueNet
-476000
CY2021 voxx Maximumlengthoftimerecognitionofsettledforwardcontractsintoearnings
Maximumlengthoftimerecognitionofsettledforwardcontractsintoearnings
P15M
CY2021 us-gaap Gain Loss From Components Excluded From Assessment Of Cash Flow Hedge Effectiveness Net
GainLossFromComponentsExcludedFromAssessmentOfCashFlowHedgeEffectivenessNet
0
CY2021Q1 voxx Foreign Currency Contracts De Designated
ForeignCurrencyContractsDeDesignated
0
CY2020Q1 voxx Foreign Currency Contracts De Designated
ForeignCurrencyContractsDeDesignated
0
CY2021Q1 voxx Foreign Currency Contracts Terminated
ForeignCurrencyContractsTerminated
0
CY2021Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
108862000
CY2020Q1 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
2282000
CY2020Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
72419000
CY2021Q1 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
1777000
CY2021Q1 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
1777000
CY2020Q1 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
2282000
CY2019 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
530000
CY2021 us-gaap Receivable With Imputed Interest Due Dates
ReceivableWithImputedInterestDueDates
2019-01-19
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1954000
CY2020Q1 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
751000
CY2020Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
69714000
CY2020 us-gaap Proceeds From Sale And Collection Of Receivables
ProceedsFromSaleAndCollectionOfReceivables
79100000
CY2019 us-gaap Proceeds From Sale And Collection Of Receivables
ProceedsFromSaleAndCollectionOfReceivables
104600000
CY2021 us-gaap Inventory Write Down
InventoryWriteDown
2032000
CY2019 us-gaap Inventory Write Down
InventoryWriteDown
4580000
CY2020Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
29115000
CY2020Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2366000
CY2020Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
67629000
CY2020Q1 us-gaap Inventory Net
InventoryNet
99110000
CY2020Q1 voxx Property Under Finance Lease Gross
PropertyUnderFinanceLeaseGross
2503000
CY2020Q1 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
4152000
CY2020Q1 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
43801000
CY2020Q1 us-gaap Land
Land
6978000
CY2020Q1 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
8245000
CY2020Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
483000
CY2020Q1 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
38808000
CY2020Q1 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
735000
CY2020Q1 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
1858000
CY2021Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
113949000
CY2020Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
107563000
CY2020Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
56139000
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
51424000
CY2021Q1 voxx Finance Leases Lessee Balance Sheet Assets By Major Class Accumulated Deprecation
FinanceLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation
1805000
CY2020Q1 voxx Finance Leases Lessee Balance Sheet Assets By Major Class Accumulated Deprecation
FinanceLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation
1209000
CY2021 us-gaap Depreciation
Depreciation
5607000
CY2020 us-gaap Depreciation
Depreciation
5343000
CY2019 us-gaap Depreciation
Depreciation
5360000
CY2021 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1252000
CY2020 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1474000
CY2019 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1537000
CY2021 us-gaap Capital Leases Income Statement Amortization Expense
CapitalLeasesIncomeStatementAmortizationExpense
596000
CY2020 us-gaap Capital Leases Income Statement Amortization Expense
CapitalLeasesIncomeStatementAmortizationExpense
684000
CY2019 us-gaap Capital Leases Income Statement Amortization Expense
CapitalLeasesIncomeStatementAmortizationExpense
491000
CY2021 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2019 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2021 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0
CY2020 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
30230000
CY2019 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0
CY2021 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2019 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2021Q1 voxx Indefinitelivedtradenamespercentageoftotal
Indefinitelivedtradenamespercentageoftotal
0.39
CY2021Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
24432000
CY2020Q1 us-gaap Goodwill
Goodwill
55000000
CY2019Q1 us-gaap Goodwill
Goodwill
54785000
CY2018Q1 us-gaap Goodwill
Goodwill
54785000
CY2021 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
3290000
CY2020 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
215000
CY2019 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0
CY2021 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
21000
CY2019 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
0
CY2021Q1 us-gaap Goodwill
Goodwill
58311000
CY2020Q1 us-gaap Goodwill
Goodwill
55000000
CY2019Q1 us-gaap Goodwill
Goodwill
54785000
CY2021Q1 us-gaap Goodwill Gross
GoodwillGross
90474000
CY2020Q1 us-gaap Goodwill Gross
GoodwillGross
87163000
CY2021Q1 us-gaap Goodwill
Goodwill
58311000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
5658000
CY2019Q1 us-gaap Goodwill Gross
GoodwillGross
86948000
CY2021Q1 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
32163000
CY2020Q1 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
32163000
CY2019Q1 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
32163000
CY2020Q1 us-gaap Goodwill
Goodwill
55000000
CY2019Q1 us-gaap Goodwill
Goodwill
54785000
CY2021Q1 us-gaap Goodwill
Goodwill
58311000
CY2019Q1 us-gaap Goodwill
Goodwill
54785000
CY2021Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
84069000
CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
57324000
CY2021Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
26745000
CY2021Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
90104000
CY2020Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
75287000
CY2020Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
51208000
CY2020Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
24079000
CY2020Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
88288000
CY2021 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P10Y
CY2021 us-gaap Finite Lived Intangible Asset Weighted Average Period Before Next Renewal Or Extension
FiniteLivedIntangibleAssetWeightedAveragePeriodBeforeNextRenewalOrExtension
P4Y
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5426000
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7010000
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6984000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
4652000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
4280000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
4064000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
3574000
CY2020Q1 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
12250000
CY2019Q1 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
13574000
CY2018Q1 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
14020000
CY2020 voxx Liabilities Acquired During Acquisition Of Sales Incentives
LiabilitiesAcquiredDuringAcquisitionOfSalesIncentives
28000
CY2021 us-gaap Marketing Expense
MarketingExpense
67337000
CY2020 us-gaap Marketing Expense
MarketingExpense
35345000
CY2019 us-gaap Marketing Expense
MarketingExpense
37272000
CY2021 voxx Payments And Credits Of Sales Incentives
PaymentsAndCreditsOfSalesIncentives
54102000
CY2020 voxx Payments And Credits Of Sales Incentives
PaymentsAndCreditsOfSalesIncentives
36583000
CY2019 voxx Payments And Credits Of Sales Incentives
PaymentsAndCreditsOfSalesIncentives
37516000
CY2021 voxx Reversals For Unearned Sales Incentives
ReversalsForUnearnedSalesIncentives
172000
CY2020 voxx Reversals For Unearned Sales Incentives
ReversalsForUnearnedSalesIncentives
114000
CY2019 voxx Reversals For Unearned Sales Incentives
ReversalsForUnearnedSalesIncentives
202000
CY2021Q1 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
25313000
CY2020Q1 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
12250000
CY2019Q1 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
13574000
CY2021 us-gaap Advertising Expense
AdvertisingExpense
4605000
CY2020 us-gaap Advertising Expense
AdvertisingExpense
4905000
CY2019 us-gaap Advertising Expense
AdvertisingExpense
5417000
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7940000
CY2020 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7748000
CY2019 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9169000
CY2021Q1 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
4403000
CY2020Q1 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
3241000
CY2021Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
887000
CY2020Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1507000
CY2021 us-gaap Product Warranty Expense
ProductWarrantyExpense
3065000
CY2020 us-gaap Product Warranty Expense
ProductWarrantyExpense
4935000
CY2019 us-gaap Product Warranty Expense
ProductWarrantyExpense
6091000
CY2020Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
4748000
CY2019Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
4469000
CY2018Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
6233000
CY2021 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1200000
CY2020 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
188000
CY2021 us-gaap Product Warranty Expense
ProductWarrantyExpense
3065000
CY2020 us-gaap Product Warranty Expense
ProductWarrantyExpense
4935000
CY2019 us-gaap Product Warranty Expense
ProductWarrantyExpense
6091000
CY2019 voxx Standard Product Warranty Accrual Balance Transferred
StandardProductWarrantyAccrualBalanceTransferred
-832000
CY2021 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
3723000
CY2020 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
4844000
CY2019 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
7023000
CY2021Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
5290000
CY2020Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
4748000
CY2019Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
4469000
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-862000
CY2020 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
405000
CY2019 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
220000
CY2021 voxx Cumulative Inflation Rate Period
CumulativeInflationRatePeriod
P3Y
CY2019 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
3473000
CY2021 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-862000
CY2020 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
38000
CY2019 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
21000
CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax
106000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1244000
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
0
CY2020 voxx Payment In Settlement Of Final Working Capital Calculation
PaymentInSettlementOfFinalWorkingCapitalCalculation
804000
CY2019 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-33000
CY2019 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2722000
CY2020 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-1763000
CY2020 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
348000
CY2020 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2111000
CY2021 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
3913000
CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-165000
CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
4078000
CY2021 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
0
CY2020 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
0
CY2019 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
0
CY2021 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-74000
CY2020 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax
35000
CY2019 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax
-152000
CY2020Q1 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
16500000
CY2021 voxx Percentage Of Net Sales And Income Before Taxes
PercentageOfNetSalesAndIncomeBeforeTaxes
0.042
CY2021Q1 us-gaap Debt Instrument Measurement Input
DebtInstrumentMeasurementInput
1.50
CY2021Q1 us-gaap Nontrade Receivables Current
NontradeReceivablesCurrent
277000
CY2020Q1 us-gaap Nontrade Receivables Current
NontradeReceivablesCurrent
230000
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
7350000
CY2019 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
6618000
CY2021 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
6009000
CY2020 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
5136000
CY2019 us-gaap Equity Method Investment Dividends Or Distributions
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<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:7.69%;white-space:nowrap" valign="top"> <p style="margin-top:9pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">15)</span></p></td> <td valign="top"> <p style="margin-top:9pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"><span style="text-decoration:underline;color:#000000;">Contingencies</span></p></td></tr></table></div> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;margin-left:7.69%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is currently, and has in the past, been a party to various routine legal proceedings incident to the ordinary course of business. If management determines, based on the underlying facts and circumstances of each matter, that it is probable a loss will result from a litigation contingency and the amount of the loss can be reasonably estimated, the estimated loss is accrued for. The Company does not believe that any current outstanding litigation will have a material adverse effect on the Company's financial statements, individually or in the aggregate.</p> <p style="text-align:justify;margin-top:9pt;margin-bottom:0pt;margin-left:7.69%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The products the Company sells are continually changing as a result of improved technology.  As a result, although the Company and its suppliers attempt to avoid infringing known proprietary rights, the Company may be subject to legal proceedings and claims for alleged infringement by patent, trademark, or other intellectual property owners.  Any claims relating to the infringement of third-party proprietary rights, even if not meritorious, could result in costly litigation, divert management’s attention and resources, or require the Company to either enter into royalty or license agreements which are not advantageous to the Company or pay material amounts of damages.</p>
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CY2020Q1 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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CY2020Q1 us-gaap Valuation Allowances And Reserves Balance
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CY2019Q1 us-gaap Valuation Allowances And Reserves Balance
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CY2020 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
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CY2020 us-gaap Valuation Allowances And Reserves Adjustments
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CY2020 us-gaap Valuation Allowances And Reserves Deductions
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CY2020Q1 us-gaap Valuation Allowances And Reserves Balance
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CY2018Q1 us-gaap Valuation Allowances And Reserves Balance
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CY2019 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
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CY2019 us-gaap Valuation Allowances And Reserves Adjustments
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CY2019 us-gaap Valuation Allowances And Reserves Deductions
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CY2019Q1 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
1125000

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