APPLIED INDUSTRIAL TECHNOLOGIES INC
For the period ended Jun 30, 2024. Filed Aug 16, 2024.
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FY2024 · Filed Aug 16, 2024
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SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
APPLIED INDUSTRIAL TECHNOLOGIES, INC. & SUBSIDIARIES
SCHEDULE II
VALUATION AND QUALIFYING ACCOUNTS
YEARS ENDED JUNE 30, 2024, 2023, AND 2022
(in thousands)
| COLUMN A · COLUMN B · COLUMN C · COLUMN D · COLUMN E | |||||||
|---|---|---|---|---|---|---|---|
| DESCRIPTION · Balance at Beginning of Period · (Deductions) Additions Charged to Cost and Expenses · (Deductions) Additions Charged to Other Accounts · Deductions from Reserve · Balance at End of Period | |||||||
| Reserve deducted from assets to which it applies — | |||||||
| Accounts receivable: | |||||||
| Allowance for doubtful accounts | $22,334 | $(205) | $— | $9,066 | (B) | $13,063 | |
| Returns reserve | 12,635 | — | (1,820) | (A) | — | 10,815 | |
| $34,969 | $(205) | $(1,820) | $9,066 | $23,878 | |||
| Reserve deducted from assets to which it applies — | |||||||
| Accounts receivable: | |||||||
| Allowance for doubtful accounts | $17,522 | $5,619 | $— | $807 | (B) | $22,334 | |
| Returns reserve | 10,522 | — | 2,113 | (A) | — | 12,635 | |
| $28,044 | $5,619 | $2,113 | $807 | $34,969 | |||
| Reserve deducted from assets to which it applies — | |||||||
| Accounts receivable: | |||||||
| Allowance for doubtful accounts | $16,455 | $3,193 | $— | $2,126 | (B) | $17,522 | |
| Returns reserve | 9,772 | — | 750 | (A) | — | 10,522 | |
| $26,227 | $3,193 | $750 | $2,126 | $28,044 | |||
(A)Amounts in the years ending June 30, 2024, 2023 and 2022 represent reserves recorded for the return of merchandise by customers. The Company adopted ASC 606 - Revenue from Contracts with Customers effective July 1, 2018 which requires the Company's sales returns reserve to be established at the gross sales value with an asset established for the value of the expected product to be returned.
(B)Amounts represent uncollectible accounts charged off.
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