Supplemental Financial Statement Information
|9 Months Ended|
Sep. 30, 2021
|Payables and Accruals [Abstract]|
|Supplemental Financial Statement Information||SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION
Assets Held for Sale
An asset group classified as held for sale is reflected at the lower of its carrying amount or estimated fair value less cost to sell. If the carrying amount of the assets exceeds its estimated fair value, a loss is recognized. We recorded approximately $0.1 million and $0.9 million of machinery held for sale within "Assets Held for Sale" as of September 30, 2021 and December 31, 2020, respectively. We completed the sale of approximately $0.7 million of machinery during the second quarter of 2021, and are actively seeking a buyer and expect to complete the sale of the remaining machinery held for sale by the end of 2021. We recognized approximately $0.2 million in impairment charges during the three and nine months ended September 30, 2021. We did not recognize any impairment charges during the three and nine months ended September 30, 2020.
Other Current Assets
The following table summarizes the composition of other current assets as of the dates indicated:
Accrued Expenses and Other Current Liabilities
The following table summarizes the composition of accrued expenses and other current liabilities as of the dates indicated:
For certain product offerings such as premium, patented, child-resistant packaging, closed-system vaporization solutions and custom-branded retail products, we may receive a deposit from the customer (generally 25% - 50% of the total order cost, but the amount can vary by customer contract), when an order is placed by a customer. We typically complete orders related to customer deposits within one to six months from the date of order, depending on the complexity of the customization and the size of the order, but the order completion timeline can vary by product type and terms of sale with each customer. Changes in our customer deposits liability balance during the nine months ended September 30, 2021 were as follows:
Accumulated Other Comprehensive Income (Loss)
The components of accumulated other comprehensive income (loss) for the periods presented were as follows:
Our four largest vendors accounted for an aggregate of approximately 29.2% and 22.8% of our total net sales and 53.2% and 84.0% of our total purchases for the three and nine months ended September 30, 2021, respectively, and an aggregate of approximately 38.4% and 22.1% of our total net sales and 27.9% and 43.1% of our total purchases for the three and nine months ended September 30, 2020, respectively. We expect to maintain our existing relationships with these vendors.
Related Party TransactionsThe Company sold certain products and supplies to a related party during the three months ended September 30, 2021. Sales to related parties during the three and nine months ended September 30, 2021 totaled $0.1 million. Sales to related parties during the three and nine months ended September 30, 2020 were $0. Total accounts receivable due from related parties were $0.4 million and $0 as of September 30, 2021 and December 30, 2020, respectively.
The entire disclosures of supplemental information, including descriptions and amounts, related to the balance sheet, income statement, and/or cash flow statement.
No definition available.