HAVERTY FURNITURE COMPANIES INCHVT

HAVERTY FURNITURE COMPANIES INC Revenue Disclosure

10-KFiled Feb 26, 20262 min read
Revenues:
The following table presents our revenues disaggregated by each major product category and service for each of the last three years (dollars in thousands, amounts and percentages may not always add due to rounding):
Year Ended December 31,
202520242023
Net Sales
% of
Net Sales
Net Sales
% of
Net Sales
Net Sales
% of Net
Sales
Merchandise:
Case Goods
Bedroom Furniture$113,242 14.9 %$102,941 14.2 %$132,072 15.3 %
Dining Room Furniture78,045 10.3 78,362 10.8 97,969 11.4 
Occasional54,798 7.2 53,727 7.4 68,592 8.0 
246,085 32.4 235,030 32.5 298,633 34.6 
Upholstery337,534 44.5 322,617 44.6 370,921 43.0 
Mattresses67,020 8.8 65,648 9.1 74,798 8.7 
Accessories and Other (1)
108,356 14.3 99,604 13.8 117,781 13.7 
$758,995 100.0 %$722,899 100.0 %$862,133 100.0 %
(1)Includes delivery charges and product protection.
Estimated refunds for returns and allowances are recorded based on estimated margin using our historical return patterns. We record estimated refunds for sales returns on a gross basis and the carrying value of the return asset is presented separately from inventory. Estimated return inventory of $528,000 and $494,000 at December 31, 2025 and 2024, respectively, is included in the line item “Other current assets” and the estimated refund liability of $1,757,000 and $1,578,000 at December 31, 2025 and 2024, respectively, is included in the line item “Accrued liabilities” on the Consolidated Balance Sheets.
We record customer deposits when payments are received in advance of the delivery of merchandise, which totaled $35,504,000 and $40,733,000 at December 31, 2025 and December 31, 2024, respectively. Changes in the customer deposit balance from period to period are driven by the timing of merchandise deliveries. Of the customer deposit liabilities at December 31, 2024, approximately $220,000 has not been recognized through net sales in the twelve months ended December 31, 2025.
We typically offer our customers an opportunity for us to deliver their purchases and most choose this service. Delivery fees of approximately $30,247,000, $29,279,000 and $36,187,000 were charged to customers in 2025, 2024 and 2023, respectively, and are included in net sales. The costs associated with deliveries are included in selling, general and administrative expenses and were approximately $36,780,000, $37,085,000, and $42,361,000 in 2025, 2024 and 2023, respectively.

Historical Timeline

Fiscal YearFiled
2025Feb 26, 2026Showing above
2018Mar 4, 2019
2017Mar 2, 2018
2016Mar 3, 2017

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.

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