Quarterly report pursuant to Section 13 or 15(d)

Customer and Supplier Concentrations

v3.20.1
Customer and Supplier Concentrations
9 Months Ended
Mar. 31, 2020
Risks And Uncertainties [Abstract]  
Customer and Supplier Concentrations

17.

CUSTOMER AND SUPPLIER CONCENTRATIONS

Customer Concentration

Customers providing 10 percent or more of the Company's revenues for the three and nine months ended March 31, 2020 are presented on a comparative basis, with their corresponding balances for the three and nine months ended March 31, 2019 in the table below:

 

in thousands

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

March 31, 2020

 

 

March 31, 2019

 

 

March 31, 2020

 

 

March 31, 2019

 

 

 

Amount

 

 

Percent

 

 

Amount

 

 

Percent

 

 

Amount

 

 

Percent

 

 

Amount

 

 

Percent

 

Total revenue

 

$

1,258,722

 

 

 

100.0

%

 

$

1,266,986

 

 

 

100.0

%

 

$

3,795,326

 

 

 

100.0

%

 

$

3,932,988

 

 

 

100.0

%

Customer concentrations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HSBC Bank USA(1)

 

$

138,181

 

 

 

11.0

%

 

$

347,966

 

 

 

27.5

%

 

$

536,961

 

 

 

14.1

%

 

$

972,958

 

 

 

24.7

%

TD Securities

 

 

33,544

 

 

 

2.7

%

 

 

3,019

 

 

 

0.2

%

 

 

430,504

 

 

 

11.3

%

 

 

8,190

 

 

 

0.2

%

Customer A

 

 

192,497

 

 

 

15.2

%

 

 

91,145

 

 

 

7.2

%

 

 

350,232

 

 

 

9.3

%

 

 

289,492

 

 

 

7.4

%

 

 

$

364,222

 

 

 

28.9

%

 

$

442,130

 

 

 

34.9

%

 

$

1,317,697

 

 

 

34.7

%

 

$

1,270,640

 

 

 

32.3

%

 

(1)

Sales with these trading partners are primarily comprised of sales on forward contracts that are entered into for hedging purposes rather than sales characterized with the physical delivery of precious metal product.

Customers providing 10 percent or more of the Company's accounts receivable as of March 31, 2020 and June 30, 2019 are presented on a comparative basis in the table below.

 

in thousands

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2020

 

 

June 30, 2019

 

 

 

Amount

 

 

Percent

 

 

Amount

 

 

Percent

 

Total accounts receivable, net

 

$

96,753

 

 

 

100.0

%

 

$

26,895

 

 

 

100.0

%

Customer concentrations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer B

 

$

12,926

 

 

 

13.4

%

 

$

1,523

 

 

 

5.7

%

Customer C

 

 

71,794

 

 

 

74.2

%

 

 

983

 

 

 

3.6

%

 

 

$

84,720

 

 

 

87.6

%

 

$

2,506

 

 

 

9.3

%

 

Supplier Concentration

The Company buys precious metals from a variety of sources, including through brokers and dealers, from sovereign and private mints, from refiners and directly from customers. The Company believes that no one or small group of suppliers is critical to its business, since other sources of supply are available that provide similar products on comparable terms.