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Business Description and Basis of Presentation [Text Block]

1. Description of Business and Basis of Presentation

Founded in 1959, Generac Holdings Inc. (the Company) is a leading global designer and manufacturer of a wide range of energy technology solutions and other power products. The Company provides power generation equipment, energy storage systems, and other power products serving the residential, light commercial and industrial markets. Generac’s power products are available globally through a broad network of independent dealers, distributors, retailers, wholesalers, equipment rental companies, and e-commerce partners, as well as sold direct to certain end user customers.

Over the years, the Company has executed a number of acquisitions that support its strategic plan (as discussed in Item 1 of the Annual Report on Form 10-K for the year ended December 31, 2019). A summary of acquisitions affecting the reporting periods presented include:

●

In February 2019, the Company acquired a majority share of Captiva Energy Solutions Private Limited (Captiva). Captiva, founded in 2010 and headquartered in Kolkata, India, specializes in customized industrial generators.

●

In March 2019, the Company acquired Neurio Technology Inc. (Neurio), founded in 2005 and headquartered in Vancouver, British Columbia. Neurio is a leading energy data company focused on metering technology and sophisticated analytics to optimize energy use within a home or business.

●

In April 2019, the Company acquired Pika Energy, Inc. (Pika), founded in 2010 and located in Westbrook, Maine. Pika is a manufacturer of battery storage technologies that capture and store solar or grid power for homeowners and businesses and is also a manufacturer of advanced power electronics, software and controls for smart energy storage and management.

The condensed consolidated financial statements include the accounts of the Company and its subsidiaries that are consolidated in conformity with U.S. generally accepted accounting principles (GAAP). All intercompany amounts and transactions have been eliminated in consolidation.

The condensed consolidated balance sheet as of March 31, 2020, the condensed consolidated statements of comprehensive income for the three months ended March 31, 2020 and 2019, the condensed consolidated statements of stockholders’ equity for the three months ended March 31, 2020 and 2019, and the condensed consolidated statements of cash flows for the three months ended March 31, 2020 and 2019 have been prepared by the Company and have not been audited. In the opinion of management, all adjustments (which include only normal recurring adjustments except where disclosed) necessary for the fair presentation of the financial position, results of operation and cash flows have been made. The results of operations for any interim period are not necessarily indicative of the results to be expected for the full year.

The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2019.

Goodwill and Other Indefinite-Lived Intangible Assets

The Company applies a fair value-based impairment test to the carrying value of goodwill and other indefinite-lived intangible assets on an annual basis (as of October 31) and, if certain events or circumstances indicate that an impairment loss may have been incurred, on an interim basis. As disclosed in Note 2, “Significant Accounting Policies – Goodwill and Other Indefinite-Lived Intangible Assets,” to the consolidated financial statements in Item 8 of its 2019 Annual Report on Form 10-K, the Company concluded there was no impairment in its goodwill and other indefinite-lived intangible assets.

Given the significant uncertainty within the global markets created by the COVID-19 pandemic and the volatility in the price of oil, the Company determined that it should perform an interim quantitative assessment of its reporting units for possible goodwill and other indefinite-lived intangible asset impairment as of March 31, 2020. Estimates and assumptions used when preparing the discounted cash flow analysis for purposes of the interim impairment test for each reporting unit were based on current projections that are subject to various risks and uncertainties, including forecasted revenues, expenses, and cash flows, the duration and extent of the impact from the COVID-19 pandemic, and current discount rates based on the estimated weighted average cost of capital for the business.

Based on the interim impairment assessment as of March 31, 2020, the Company has determined that its goodwill and indefinite-lived intangible assets are not impaired. If management's estimates of future operating results change or if there are changes to other assumptions due to the current economic environment, the estimate of the fair values may change significantly. Such change could result in impairment charges in future periods, which could have a significant impact on the Company's operating results and financial condition.

Adoption of New Accounting Pronouncements

Changes to GAAP are established by the Financial Accounting Standards Board (FASB) in the form of accounting standard updates (“ASUs”) to the FASB Accounting Standards Codification (ASC). ASUs not listed below were assessed and determined to be either not applicable or are not expected to have a material impact on the Company’s consolidated financial statements.

Recently Adopted Accounting Standards

On January 1, 2020, the Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This guidance was issued to provide financial statement users with more useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. Specifically, this guidance requires entities to utilize a new “expected loss” model as it relates to trade and other receivables. The Company adopted this standard using the modified retrospective approach as of the date of adoption, meaning no prior period balances were impacted by the adoption. The adoption of the standard impacts the way the Company estimates the allowance for doubtful accounts on its trade and other receivables, and the Company recorded a decrease to retained earnings of $1,147 as a result of adopting ASU 2016-13. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. Refer to Note 9, “Allowance for Credit Losses,” for further information regarding the Company’s allowance for expected credit losses.

On January 1, 2020, the Company elected to apply the optional expedients discussed in ASU 2020-04, Reference Rate Reform. This guidance was issued to address challenges likely to arise in accounting for contract modifications and hedge accounting because of reference rate reform. The update provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued if certain criteria are met. The adoption of the optional expedients in this standard permits the Company to account for the change to a reference rate on its LIBOR based term loan as a continuation of the existing contract rather than having to account for the change in rate as a modification or extinguishment. Additionally, the election of the optional expedients permits the Company to continue with its hedge accounting treatment for its interest rate swaps despite expected changes due to reference rate reform.

Note 2 - Acquisitions

3 Months Ended

Mar. 31, 2020

Business Combination Disclosure [Text Block]

2. Acquisitions

Acquisition of Pika

On April 26, 2019, the Company acquired Pika for a purchase price, net of cash acquired, of $49,068. The acquisition purchase price was funded solely through cash on hand.

The Company finalized the Pika purchase price allocation during the first quarter of 2020 based upon its estimates of the fair value of the acquired assets and assumed liabilities. As a result, the Company recorded $58,196 of intangible assets, including $19,896 of goodwill recorded in the Domestic segment, as of the acquisition date. The goodwill ascribed to the acquisition is not deductible for tax purposes. The accompanying condensed consolidated financial statements include the results of Pika from the date of acquisition.

Acquisition of Neurio

On March 12, 2019, the Company acquired Neurio for a purchase price of $59,071, net of cash acquired and inclusive of a deferred payment of $7,922 which was made during the third quarter of 2019. The acquisition purchase price was funded solely through cash on hand.

The Company finalized the Neurio purchase price allocation during the first quarter of 2020 based upon its estimates of the fair value of the acquired assets and assumed liabilities. As a result, the Company recorded $58,762 of intangible assets, including $17,862 of goodwill recorded in the Domestic segment, as of the acquisition date. Substantially all of the goodwill ascribed to this acquisition is deductible for tax purposes. The accompanying condensed consolidated financial statements include the results of Neurio from the date of acquisition.

Note 3 - Redeemable Noncontrolling Interest

3 Months Ended

Mar. 31, 2020

Redeemable Noncontrolling Interest [Text Block]

3. Redeemable Noncontrolling Interest

On March 1, 2016, the Company acquired a 65% ownership interest in PR Industrial S.r.l. and its subsidiaries (Pramac). The 35% noncontrolling interest in Pramac had an acquisition date fair value of $34,253, and was recorded as a redeemable noncontrolling interest in the condensed consolidated balance sheet, as the noncontrolling interest holder had within its control the right to require the Company to redeem its interest in Pramac. In February 2019, the Company amended its agreement with the noncontrolling interest holder of Pramac, extending the agreement by five years, allowing the Company to exercise its call option rights in partial increments at certain times during the five year period, and providing that the noncontrolling interest holder no longer holds the right to put its shares to the Company until April 1, 2021. The put and call option price is based on a multiple of earnings, subject to a floor and the terms of the acquisition agreement, as amended.

On February 1, 2019, the Company acquired a 51% ownership interest in Captiva. The 49% noncontrolling interest in Captiva had an acquisition date fair value of $3,165, and was recorded as a redeemable noncontrolling interest in the condensed consolidated balance sheet, as the noncontrolling interest holder had within its control the right to require the Company to redeem its interest in Captiva. The noncontrolling interest holder has a put option to sell his interest to the Company any time after five years from the date of acquisition, or earlier upon the occurrence of certain circumstances. The put option price is based on a multiple of earnings, subject to the terms of the acquisition. Further, the Company has a call option that it may redeem any time after five years from the date of acquisition, or earlier upon the occurrence of certain circumstances. The call option price is based on a multiple of earnings, subject to the terms of the acquisition.

For both transactions, the redeemable noncontrolling interest is recorded at the greater of the initial fair value, increased or decreased for the noncontrolling interests’ share of comprehensive income (loss), or the estimated redemption value, with any adjustments to the redemption value impacting retained earnings, but not net income. However, the redemption value adjustments are reflected in the earnings per share calculation, as detailed in Note 14, “Earnings Per Share,” to the condensed consolidated financial statements. The following table presents the changes in the redeemable noncontrolling interest:

	*Three Months Ended March 31,*
	*2020*			*2019*
Balance at beginning of period	$	61,227		$	61,004
Net income		(629	)		265
Foreign currency translation		(2,216	)		(1,480	)
Redemption value adjustment		1,522			(2,432	)
Balance at end of period	$	59,904		$	57,357

Note 4 - Derivative Instruments and Hedging Activities

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Text Block]

4. Derivative Instruments and Hedging Activities

The Company records all derivatives in accordance with ASC 815, Derivatives and Hedging, which requires derivative instruments to be reported on the condensed consolidated balance sheets at fair value and establishes criteria for designation and effectiveness of hedging relationships. The Company is exposed to market risk such as changes in commodity prices, foreign currencies and interest rates. The Company does not hold or issue derivative financial instruments for trading purposes.

The Company periodically utilizes commodity derivatives and foreign currency forward purchase and sales contracts in the normal course of business. Because these contracts do not qualify for hedge accounting, the related gains and losses are recorded in the Company’s condensed consolidated statements of comprehensive income. These gains and losses are not material to the Company’s condensed consolidated financial statements.

Interest Rate Swaps

In 2017, the Company entered into twenty interest rate swap agreements, sixteen of which were still outstanding as of March 31, 2020. In December 2019, in conjunction with the amendment to its term loan, the Company amended those interest rate swaps to remove the LIBOR floor, which also resulted in minor reductions to the future dated swap fixed rates. In March 2020, the Company entered into three interest rate swap agreements, bringing the total outstanding interest rate swaps to nineteen as of March 31, 2020. The Company formally documented all relationships between interest rate hedging instruments and the related hedged items, as well as its risk-management objectives and strategies for undertaking various hedge transactions. These interest rate swap agreements qualify as cash flow hedges and therefore, the effective portions of the gains or losses are reported as a component of accumulated other comprehensive loss (AOCL) in the condensed consolidated balance sheets. The amount of losses, net of tax, recognized for the three months ended March 31, 2020 and 2019 were $(15,813) and $(5,124) respectively. The cash flows of the swaps are recognized as adjustments to interest expense each period. The ineffective portions of the derivatives’ changes in fair value, if any, are immediately recognized in earnings.

Fair Value

The following table presents the fair value of all of the Company’s derivatives:

	March 31, 2020			December 31, 2019
Commodity contracts	$	(1,810	)	$	6
Foreign currency contracts		210			31
Interest rate swaps		(31,579	)		(10,425	)

The fair value of the foreign currency contracts is included in prepaid expenses and other current assets, and the fair values of the commodity and interest rate swaps are included in other accrued liabilities and other long-term liabilities in the condensed consolidated balance sheets as of March 31, 2020. The fair values of the commodity and foreign currency contracts are included in prepaid expenses and other current assets, and the fair value of the interest rate swaps is included in other accrued liabilities and other long-term liabilities in the consolidated balance sheets as of December 31, 2019. Excluding the impact of credit risk, the fair value of the derivative contracts as of March 31, 2020 and December 31, 2019 is a liability of $34,226 and $10,588, respectively, which represent the amount the Company would pay upon exit of the agreements on those dates.

Note 5 - Fair Value Measurements

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Text Block]

5. Fair Value Measurements

ASC 820-10, Fair Value Measurement, defines fair value, establishes a consistent framework for measuring fair value, and expands disclosure for each major asset and liability category measured at fair value on either a recurring basis or nonrecurring basis. ASC 820-10 clarifies that fair value is an exit price, representing the amount that would be received in the sale of an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the pronouncement establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

The Company believes the carrying amount of its financial instruments (cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, short-term borrowings and ABL facility borrowings), excluding Term Loan borrowings, approximates the fair value of these instruments based upon their short-term nature. The fair value of Term Loan borrowings, which have an aggregate carrying value of $813,522, was approximately $798,875 (Level 2) at March 31, 2020, as calculated based on independent valuations whose inputs and significant value drivers are observable.

For the fair value of the derivatives measured on a recurring basis, refer to the fair value table in Note 4, “Derivative Instruments and Hedging Activities,” to the condensed consolidated financial statements. The fair value of all derivative contracts is classified as Level 2. The valuation techniques used to measure the fair value of derivative contracts, all of which have counterparties with high credit ratings, were based on quoted market prices or model driven valuations using significant inputs derived from or corroborated by observable market data. The fair value of derivative contracts above considers the Company’s credit risk in accordance with ASC 820-10.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Note 6 - Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2020

Comprehensive Income (Loss) Note [Text Block]

6. Accumulated Other Comprehensive Loss

The following presents a tabular disclosure of changes in AOCL during the three months ended March 31, 2020 and 2019, net of tax:

	*Foreign Currency Translation Adjustments*				*Defined Benefit Pension Plan*		*Unrealized Loss on Cash Flow Hedges*				*Total*

Beginning Balance – January 1, 2020	$	(16,622	)		$	-	$	(8,295	)		$	(24,917	)
Other comprehensive loss before reclassifications		(33,214	)	(2)		-		(15,813	)	(1)		(49,027	)
Amounts reclassified from AOCL		-				-		-				-
Net current-period other comprehensive loss		(33,214	)			-		(15,813	)			(49,027	)
Ending Balance – March 31, 2020	$	(49,836	)		$	-	$	(24,108	)		$	(73,944	)

	Foreign Currency Translation Adjustments			Defined Benefit Pension Plan			Unrealized Gain (Loss) on Cash Flow Hedges				Total

Beginning Balance – January 1, 2019	$	(18,832	)	$	(10,541	)	$	5,560			$	(23,813	)
Other comprehensive loss before reclassifications		(933	)		-			(5,124	)	(3)		(6,057	)
Amounts reclassified from AOCL		-			-			-				-
Net current-period other comprehensive loss		(933	)		-			(5,124	)			(6,057	)
Ending Balance – March 31, 2019	$	(19,765	)	$	(10,541	)	$	436			$	(29,870	)

(1)

Represents unrealized losses of $(21,154), net of tax effect of $5,341 for the three months ended March 31, 2020.

	(2)	Represents the unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the three months ended March 31, 2020, particularly the Mexican Peso, Euro, Brazilian Real, and Russian Ruble.
	(3)	Represents unrealized losses of $(6,924), net of tax effect of $1,800 for the three months ended March 31, 2019.

Note 7 - Segment Reporting

3 Months Ended

Mar. 31, 2020

Segment Reporting Disclosure [Text Block]

7. Segment Reporting

The Company has two reportable segments for financial reporting purposes – Domestic and International. The Domestic segment includes the legacy Generac business (excluding its traditional Latin American export operations), and the acquisitions that are based in the U.S. and Canada, all of which have revenues that are substantially derived from the U.S. and Canada. The International segment includes the legacy Generac business’s Latin American export operations, and the Ottomotores, Tower Light, Pramac, Motortech and Selmec acquisitions, all of which have revenues that are substantially derived from outside the U.S and Canada. Both reportable segments design and manufacture a wide range of power generation equipment, energy technology solutions, and other power products. The Company has multiple operating segments, which it aggregates into the two reportable segments, based on materially similar economic characteristics, products, production processes, classes of customers, distribution methods and regional considerations.

The Company's product offerings consist primarily of power generation equipment, energy technology solutions, and other power products geared for varying end customer uses. Residential products and commercial & industrial (C&I) products are each a similar class of products based on similar power output and end customer. The breakout of net sales between residential, C&I, and other products by reportable segment is as follows:

	*Net Sales by Segment*
	*Three Months Ended March 31, 2020*
Product Classes	*Domestic*		*International*		*Total*
Residential products	$	243,830	$	13,789	$	257,619
Commercial & industrial products		95,827		76,239		172,066
Other		36,373		9,857		46,230
Total net sales	$	376,030	$	99,885	$	475,915

	Net Sales by Segment
	Three Months Ended March 31, 2019
Product Classes	Domestic		International		Total
Residential products	$	204,259	$	13,571	$	217,830
Commercial & industrial products		120,825		88,299		209,124
Other		31,414		11,985		43,399
Total net sales	$	356,498	$	113,855	$	470,353

Residential products consist primarily of automatic home standby generators ranging in output from 6kW to 60kW, portable generators, energy storage and monitoring solutions, and other outdoor power equipment. These products are predominantly sold through independent residential dealers, national and regional retailers, e-commerce merchants, electrical/HVAC/solar wholesalers, solar installers, and outdoor power equipment dealers. The residential products revenue consists of the sale of the product to our distribution partners, which in turn sell or rent the product to the end consumer, including installation and maintenance services. In some cases, residential products are sold direct to the end consumer. Substantially all of the residential products revenues are transferred to the customer at a point in time.

C&I products consist of larger output stationary generators used in C&I applications and fueled by diesel, natural gas, liquid propane and bi-fuel, with power outputs ranging from 10kW up to 3,250kW. Also included in C&I products are commercial-grade mobile generators, light towers, mobile heaters and mobile pumps. These products are predominantly sold through industrial distributors and dealers, equipment rental companies and equipment distributors. The C&I products revenue consists of the sale of the product to our distribution partners, which in turn sell or rent the product to the end customer, including installation and maintenance services. In some cases, C&I products are sold direct to the end customer. Substantially all of the C&I products revenues are transferred to the customer at a point in time.

Other products and services consist primarily of aftermarket service parts and product accessories sold to our dealers, the amortization of extended warranty deferred revenue, and remote monitoring subscription revenue. The aftermarket service parts and product accessories are generally transferred to the customer at a point in time, while the extended warranty revenue and subscription revenue are recognized over the life of the contract.

Management evaluates the performance of its segments based primarily on Adjusted EBITDA, which is reconciled to Income before provision for income taxes below. The computation of Adjusted EBITDA is based on the definition contained in the Company’s credit agreements.

Adjusted EBITDA

Three Months Ended March 31,

2020

2019

Domestic
$ 82,775 $ 81,228

International
3,250 5,900

Total adjusted EBITDA
$ 86,025 $ 87,128

Interest expense
(9,053 ) (10,272 )

Depreciation and amortization
(16,116 ) (12,607 )

Non-cash write-down and other adjustments (1)
(2,284 ) 1,400

Non-cash share-based compensation expense (2)
(4,574 ) (3,594 )

Transaction costs and credit facility fees (3)
(234 ) (1,286 )

Business optimization expenses (4)
(512 ) (169 )

Other
(397 ) 154

Income before provision for income taxes
$ 52,855 $ 60,754

(1)

Includes certain foreign currency and purchase accounting related adjustments, gains/losses on disposal of assets, and unrealized mark-to-market adjustments on commodity contracts.

(2)

Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods.

(3)

Represents transaction costs incurred directly in connection with any investment, as defined in our credit agreement, equity issuance, debt issuance or refinancing, together with certain fees relating to our senior secured credit facilities.

(4)

Represents severance and other non-recurring restructuring charges related to the consolidation of certain of our facilities.

In the fourth quarter of 2019, management determined that the Latin American export operations of the legacy Generac business (GPS LATAM) should have been included in the International reportable segment beginning in 2018. Previously, GPS LATAM was reported in the Domestic segment, in amounts that were not material. To reflect this change, management has chosen to correct the net sales and adjusted EBITDA by segment as follows: For the first quarter ended in 2019, net sales of $2,750, and adjusted EBITDA of $(253), were moved from the Domestic segment to the International segment.

The Company’s sales in the United States represented approximately 77% and 72% of total sales for the three months ended March 31, 2020 and 2019, respectively. Approximately 82% and 80% of the Company’s identifiable long-lived assets were located in the United States at March 31, 2020 and December 31, 2019, respectively.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Note 8 - Balance Sheet Details

3 Months Ended

Mar. 31, 2020

Supplemental Balance Sheet Disclosures [Text Block]

8. Balance Sheet Details

Inventories consist of the following:

	*March 31,*		*December 31,*
	*2020*		*2019*
Raw materials	$	330,711	$	328,021
Work-in-process		8,026		10,387
Finished goods		220,958		183,616
Total	$	559,695	$	522,024

Property and equipment consists of the following:

	*March 31,*			*December 31,*
	*2020*			*2019*

Land and improvements	$	16,910		$	18,252
Buildings and improvements		178,036			177,079
Machinery and equipment		118,323			117,114
Dies and tools		22,283			22,040
Vehicles		3,720			3,955
Office equipment and systems		99,473			99,124
Leasehold improvements		4,233			4,293
Construction in progress		40,092			36,299
Gross property and equipment		483,070			478,156
Accumulated depreciation		(167,242	)		(161,180	)
Total	$	315,828		$	316,976

Total property and equipment included finance leases of $27,364 and $26,063 at March 31, 2020 and December 31, 2019, respectively, primarily made up of buildings and improvements. Amortization of finance lease right of use assets is recorded within depreciation expense in the condensed consolidated statements of comprehensive income. The initial measurement of new finance lease right of use assets is accounted for as a non-cash item in the condensed consolidated statements of cash flows.

Note 9 - Allowance for Credit Losses

3 Months Ended

Mar. 31, 2020

Allowance for Credit Losses [Text Block]

9. Allowance for Credit Losses

The Company's trade and other receivables primarily arise from the sale of our products to independent residential dealers, industrial distributors and dealers, national and regional retailers, electrical/HVAC/solar wholesalers, e-commerce partners, equipment rental companies, equipment distributors, solar installers, and certain end users with payment terms generally ranging from 30 to 60 days. The Company evaluates the credit risk of a customer when extending credit based on a combination of various financial and qualitative factors that may affect the customers' ability to pay. These factors include the customer's financial condition, past payment experience, and credit bureau information.

The Company maintains an allowance for credit losses, which represents an estimate of expected losses over the remaining contractual life of its receivables considering current market conditions and estimates for supportable forecasts when appropriate. The Company measures expected credit losses on its trade receivables on an entity by entity basis. The estimate of expected credit losses considers a historical loss experience rate that is adjusted for delinquency trends, collection experience, and/or economic risk where appropriate. Additionally, management develops a specific allowance for trade receivables known to have a high risk of expected future credit loss.

The Company has historically experienced immaterial write-offs given the nature of the customers that receive credit. In addition, the Company holds a credit insurance plan that covers the risk of loss up to specified amounts on certain trade receivables. As of March 31, 2020, the Company had gross receivables of $319,681 and an allowance for credit losses of $7,668.

The following is a tabular reconciliation of the Company’s allowance for credit losses:

	*Three Months Ended March 31, 2020*
Balance at beginning of period	$	8,114
Provision for credit losses		317
Charge-offs		(163	)
Currency translation		(600	)
Balance at end of period	$	7,668

Note 10 - Product Warranty Obligations

3 Months Ended

Mar. 31, 2020

Product Warranty Disclosure [Text Block]

10. Product Warranty Obligations

The Company records a liability for standard product warranty obligations accounted for as assurance warranties at the time of sale to a customer based upon historical warranty experience. The Company also records a liability for specific warranty matters when they become known and are reasonably estimable. The following is a tabular reconciliation of the Company’s standard product warranty liability accounted for as an assurance warranty:

	*Three Months Ended March 31,*
	*2020*			*2019*
Balance at beginning of period	$	49,316		$	41,785
Product warranty reserve assumed in acquisition		-			212
Payments		(7,588	)		(5,634	)
Provision for warranty issued		8,286			6,960
Changes in estimates for pre-existing warranties		(991	)		239
Balance at end of period	$	49,023		$	43,562

Additionally, the Company sells extended warranty coverage for certain products, which it accounts for as a service warranty. The sales of extended warranties are recorded as deferred revenue, and typically have a duration of five to ten years. The deferred revenue related to extended warranty coverage is amortized over the duration of the extended warranty contract period, following the standard warranty period, using the straight-line method. Revenue is recognized on extended warranty contracts when the revenue recognition criteria are met, resulting in ratable recognition over the contract term. The amortization of deferred revenue is recorded to net sales in the condensed consolidated statements of comprehensive income. The following is a tabular reconciliation of the deferred revenue related to extended warranty coverage:

	*Three Months Ended March 31,*
	*2020*			*2019*
Balance at beginning of period	$	78,738		$	68,340
Deferred revenue contracts issued		5,939			5,800
Amortization of deferred revenue contracts		(3,797	)		(3,296	)
Balance at end of period	$	80,880		$	70,844

The timing of recognition of the Company’s deferred revenue balance related to extended warranties at March 31, 2020 is as follows:

Remainder of 2020	$	12,192
2021		17,253
2022		15,782
2023		12,351
2024		8,173
After 2024		15,129
Total	$	80,880

Standard product warranty obligations and extended warranty related deferred revenues are included in the condensed consolidated balance sheets as follows:

	*March 31,*		*December 31,*
	*2020*		*2019*
Product warranty liability
Current portion - other accrued liabilities	$	27,504	$	27,885
Long-term portion - other long-term liabilities		21,519		21,431
Total	$	49,023	$	49,316

Deferred revenue related to extended warranties
Current portion - other accrued liabilities	$	18,764	$	15,519
Long-term portion - other long-term liabilities		62,116		63,219
Total	$	80,880	$	78,738

Note 11 - Contract Balances

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Text Block]

11. Contract Balances

In certain cases, the Company’s customers pay for their goods in advance. These prepayments are recognized as customer deposits (contract liabilities) and recorded in other accrued liabilities in the condensed consolidated balance sheets. The balance of customer deposits was $6,833 and $9,952 at March 31, 2020 and December 31, 2019, respectively. During the three months ended March 31, 2020, the Company recognized revenue of $4,715 related to amounts included in the December 31, 2019 customer deposit balance. The Company typically recognizes revenue within one year of the receipt of the customer deposit.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Note 12 - Credit Agreements

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Text Block]

12. Credit Agreements

Short-term borrowings are included in the condensed consolidated balance sheets as follows:

	*March 31,*		*December 31,*
	*2020*		*2019*
ABL facility	$	21,308	$	30,961
Other lines of credit		28,570		27,753
Total	$	49,878	$	58,714

Long-term borrowings are included in the condensed consolidated balance sheets as follows:

	*March 31,*			*December 31,*
	*2020*			*2019*
Term loan	$	830,000		$	830,000
Original issue discount and deferred financing costs		(17,406	)		(18,048	)
Finance lease obligation		27,417			25,962
Other		3,630			2,236
Total		843,641			840,150
Less: current portion of debt		2,394			553
Less: current portion of finance lease obligation		1,867			1,830
Total	$	839,380		$	837,767

The Company’s credit agreements originally provided for a $1,200,000 term loan B credit facility (Term Loan) and currently include a $300,000 uncommitted incremental term loan facility. The maturity date of the Term Loan is currently December 13, 2026. The Term Loan is guaranteed by all of the Company’s wholly-owned domestic restricted subsidiaries, and is secured by associated collateral agreements which pledge a first priority lien on virtually all of the Company’s assets, including fixed assets and intangibles, other than all cash, trade accounts receivable, inventory, and other current assets and proceeds thereof, which are secured by a second priority lien. The Term Loan initially bore interest at rates based upon either a base rate plus an applicable margin of 1.75% or adjusted LIBOR rate plus an applicable margin of 2.75%, subject to a LIBOR floor of 0.75%. Currently, the Term Loan bears interest at rates based upon either a base rate plus an applicable margin of 0.75% or adjusted LIBOR rate plus an applicable margin of 1.75%. The Term Loan agreement has been amended a number of times since inception.

In December 2019, the Company amended its Term Loan to extend the maturity date from May 31, 2023 to December 13, 2026, as well as to remove the LIBOR floor of 0.75% from the adjusted LIBOR rate. Additionally, language was added to the agreement to include a benchmark replacement rate, selected by the administrative agent and the borrower, as a replacement to LIBOR that would take affect at the time LIBOR ceases. In connection with this amendment and in accordance with ASC 470-50, the Company capitalized $1,247 of fees paid to creditors as deferred financing costs on long-term borrowings and expensed $432 of transaction fees in the fourth quarter of 2019. Additionally at the time of the amendment, the Company made a voluntary prepayment of $49,000 on the term loan, which resulted in the write-off of $926 of original issue discount and capitalized debt issuance costs as a loss on extinguishment of debt in the condensed consolidated statements of comprehensive income.

The Term Loan does not require an Excess Cash Flow payment if the Company’s secured leverage ratio is maintained below 3.75 to 1.00 times. As of March 31, 2020, the Company’s net secured leverage ratio was 1.48 to 1.00 times, and the Company was in compliance with all covenants of the Term Loan. There are no financial maintenance covenants on the Term Loan.

The Company’s credit agreements also originally provided for a senior secured ABL revolving credit facility (ABL Facility). Borrowings under the ABL Facility are guaranteed by all of the Company’s wholly-owned domestic restricted subsidiaries, and are secured by associated collateral agreements which pledge a first priority lien on all cash, trade accounts receivable, inventory, and other current assets and proceeds thereof, and a second priority lien on all other assets, including fixed assets and intangibles of the Company and certain domestic subsidiaries. ABL Facility borrowings initially bore interest at rates based upon either a base rate plus an applicable margin of 1.00% or adjusted LIBOR rate plus an applicable margin of 2.00%, in each case, subject to adjustments based upon average availability under the ABL Facility. Currently, the ABL Facility bears interest at rates based upon either a base rate plus an applicable margin of 0.125% or an adjusted LIBOR rate plus an applicable margin of 1.125%, in each case, subject to adjustments based upon average availability under the ABL Facility. The ABL Facility agreement has been amended a number of times since inception.

As of March 31, 2020, there was $21,308 outstanding under the ABL Facility, leaving $265,438 of availability, net of outstanding letters of credit.

As of March 31, 2020 and December 31, 2019, short-term borrowings consisted of borrowings by the Company’s foreign subsidiaries on local lines of credit and the ABL Facility, which totaled $49,878 and $58,714, respectively.

Note 13 - Stock Repurchase Program

3 Months Ended

Mar. 31, 2020

Treasury Stock [Text Block]

13. Stock Repurchase Program

In August 2015, the Company’s Board of Directors approved a $200,000 stock repurchase program, which the Company completed in the third quarter of 2016. In October 2016, the Company’s Board of Directors approved another $250,000 stock repurchase program, which expired in the fourth quarter of 2018. In September 2018, the Company’s Board of Directors approved another stock repurchase program, which commenced in October 2018, and allowed for the repurchase of an additional $250,000 of its common stock over the following 24 months. The Company may repurchase its common stock from time to time, in amounts and at prices the Company deems appropriate, subject to market conditions and other considerations. The repurchases may be executed using open market purchases, privately negotiated agreements or other transactions. The actual timing, number and value of shares repurchased under the program will be determined by management at its discretion and will depend on a number of factors, including the market price of the Company’s common stock, general market and economic conditions, applicable legal requirements, and compliance with the terms of the Company’s outstanding indebtedness. The repurchases may be funded with cash on hand, available borrowings, or proceeds from potential debt or other capital markets sources. The stock repurchase program may be suspended or discontinued at any time without prior notice. There were no share repurchases during the three months ended March 31, 2020. Since the inception of the above noted programs, the Company has repurchased 8,676,706 shares of its common stock for $305,547 (at an average cost per share of $35.21), all funded with cash on hand.

Note 14 - Earnings Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Text Block]

14. Earnings Per Share

Basic earnings per share is calculated by dividing net income attributable to the common stockholders of the Company by the weighted average number of common shares outstanding during the period, exclusive of restricted shares. Except where the result would be anti-dilutive, diluted earnings per share is calculated by assuming the vesting of unvested restricted stock and the exercise of stock options. Refer to Note 3, “Redeemable Noncontrolling Interest” for further information regarding the accounting for redeemable noncontrolling interests.

The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share:

	*Three Months Ended March 31,*
	*2020*			*2019*
Numerator
Net income attributable to Generac Holdings Inc.	$	44,460		$	44,861
Redeemable noncontrolling interest redemption value adjustment		(1,522	)		2,432
Net income attributable to common shareholders	$	42,938		$	47,293

Denominator
Weighted average shares, basic		62,126,481			61,762,260
Dilutive effect of stock compensation awards (1)		1,157,256			461,378
Diluted shares		63,283,737			62,223,638

Net income attributable to common shareholders per share
Basic	$	0.69		$	0.77
Diluted	$	0.68		$	0.76

(1) Excludes approximately 71,800 stock options for the three months ended March 31, 2019, as the impact of such awards was anti-dilutive. There were no awards with an anti-dilutive impact for the three months ended March 31, 2020.

Note 15 - Income Taxes

3 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Text Block]

15. Income Taxes

The effective income tax rates for the three months ended March 31, 2020 and 2019 were 17.9% and 24.7%, respectively. The decrease in the effective tax rate in the current quarter is primarily the result of a discrete tax benefit related to equity compensation as well as the mix of earnings in the jurisdictions where the Company operates.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Note 16 - Commitments and Contingencies

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Text Block]

16. Commitments and Contingencies

The Company has an arrangement with a finance company to provide floor plan financing for certain dealers. The Company receives payment from the finance company after shipment of product to the dealer. The Company participates in the cost of dealer financing up to certain limits and has agreed to repurchase products repossessed by the finance company, but does not indemnify the finance company for any credit losses they incur. The amount financed by dealers which remained outstanding under this arrangement at March 31, 2020 and December 31, 2019 was approximately $56,100 and $49,600, respectively.

In the normal course of business, the Company is named as a defendant in various lawsuits in which claims are asserted against the Company. In the opinion of management, the liabilities, if any, which may result from such lawsuits are not expected to have a material adverse effect on the financial position, results of operations or cash flows of the Company.

Note 17 - Subsequent Event

3 Months Ended

Mar. 31, 2020

Subsequent Events [Text Block]

17. Subsequent Event

The global outbreak of COVID-19 was declared a pandemic by the World Health Organization in March 2020 and has negatively affected the global economy, disrupted global supply chains and created significant market volatility and uncertainty subsequent to March 31, 2020. In addition, in March 2020, as a result of weakened global demand from the COVID-19 pandemic and certain geopolitical tensions, there has been a substantial decline in oil prices. These conditions have negatively impacted demand for certain of the Company's products, and this is expected to continue into the future.

No asset impairments have been recorded as of March 31, 2020 related to COVID-19. However, management’s assessment regarding this could change in the future. The extent of the impact of COVID-19 on the Company's business, results of operations, financial condition and cash flows is dependent on future developments, including the duration of the pandemic, the ability of the Company to operate during the pandemic, actions taken by domestic and foreign governments to contain the spread of the virus, and the related length of its impact on the global economy, all of which are uncertain and cannot be predicted at this time.

Significant Accounting Policies (Policies)	3 Months Ended
Significant Accounting Policies (Policies)	Mar. 31, 2020
Accounting Policies [Abstract]
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill and Other Indefinite-Lived Intangible Assets The Company applies a fair value-based impairment test to the carrying value of goodwill and other indefinite-lived intangible assets on an annual basis (as of October 31) and, if certain events or circumstances indicate that an impairment loss may have been incurred, on an interim basis. As disclosed in Note 2, “Significant Accounting Policies – Goodwill and Other Indefinite-Lived Intangible Assets,” to the consolidated financial statements in Item 8 of its 2019 Annual Report on Form 10-K, the Company concluded there was no impairment in its goodwill and other indefinite-lived intangible assets. Given the significant uncertainty within the global markets created by the COVID-19 pandemic and the volatility in the price of oil, the Company determined that it should perform an interim quantitative assessment of its reporting units for possible goodwill and other indefinite-lived intangible asset impairment as of March 31, 2020. Estimates and assumptions used when preparing the discounted cash flow analysis for purposes of the interim impairment test for each reporting unit were based on current projections that are subject to various risks and uncertainties, including forecasted revenues, expenses, and cash flows, the duration and extent of the impact from the COVID-19 pandemic, and current discount rates based on the estimated weighted average cost of capital for the business. Based on the interim impairment assessment as of March 31, 2020, the Company has determined that its goodwill and indefinite-lived intangible assets are not impaired. If management's estimates of future operating results change or if there are changes to other assumptions due to the current economic environment, the estimate of the fair values may change significantly. Such change could result in impairment charges in future periods, which could have a significant impact on the Company's operating results and financial condition.
New Accounting Pronouncements, Policy [Policy Text Block]	*Adoption of New Accounting Pronouncements* Changes to GAAP are established by the Financial Accounting Standards Board (FASB) in the form of accounting standard updates (“ASUs”) to the FASB Accounting Standards Codification (ASC). ASUs not listed below were assessed and determined to be either not applicable or are not expected to have a material impact on the Company’s consolidated financial statements. *Recently Adopted Accounting Standards* On January 1, 2020, the Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This guidance was issued to provide financial statement users with more useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. Specifically, this guidance requires entities to utilize a new “expected loss” model as it relates to trade and other receivables. The Company adopted this standard using the modified retrospective approach as of the date of adoption, meaning no prior period balances were impacted by the adoption. The adoption of the standard impacts the way the Company estimates the allowance for doubtful accounts on its trade and other receivables, and the Company recorded a decrease to retained earnings of $1,147 as a result of adopting ASU 2016-13. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. Refer to Note 9, “Allowance for Credit Losses,” for further information regarding the Company’s allowance for expected credit losses. On January 1, 2020, the Company elected to apply the optional expedients discussed in ASU 2020-04, Reference Rate Reform. This guidance was issued to address challenges likely to arise in accounting for contract modifications and hedge accounting because of reference rate reform. The update provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued if certain criteria are met. The adoption of the optional expedients in this standard permits the Company to account for the change to a reference rate on its LIBOR based term loan as a continuation of the existing contract rather than having to account for the change in rate as a modification or extinguishment. Additionally, the election of the optional expedients permits the Company to continue with its hedge accounting treatment for its interest rate swaps despite expected changes due to reference rate reform.

Note 3 - Redeemable Noncontrolling Interest (Tables)

3 Months Ended

Mar. 31, 2020

Redeemable Noncontrolling Interest [Table Text Block]

	*Three Months Ended March 31,*
	*2020*			*2019*
Balance at beginning of period	$	61,227		$	61,004
Net income		(629	)		265
Foreign currency translation		(2,216	)		(1,480	)
Redemption value adjustment		1,522			(2,432	)
Balance at end of period	$	59,904		$	57,357

Note 4 - Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2020

Schedule Of Derivative Assets (Liabilities) at Fair Value [Table Text Block]

	March 31, 2020			December 31, 2019
Commodity contracts	$	(1,810	)	$	6
Foreign currency contracts		210			31
Interest rate swaps		(31,579	)		(10,425	)

Note 6 - Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

	*Foreign Currency Translation Adjustments*				*Defined Benefit Pension Plan*		*Unrealized Loss on Cash Flow Hedges*				*Total*

Beginning Balance – January 1, 2020	$	(16,622	)		$	-	$	(8,295	)		$	(24,917	)
Other comprehensive loss before reclassifications		(33,214	)	(2)		-		(15,813	)	(1)		(49,027	)
Amounts reclassified from AOCL		-				-		-				-
Net current-period other comprehensive loss		(33,214	)			-		(15,813	)			(49,027	)
Ending Balance – March 31, 2020	$	(49,836	)		$	-	$	(24,108	)		$	(73,944	)

	Foreign Currency Translation Adjustments			Defined Benefit Pension Plan			Unrealized Gain (Loss) on Cash Flow Hedges				Total

Beginning Balance – January 1, 2019	$	(18,832	)	$	(10,541	)	$	5,560			$	(23,813	)
Other comprehensive loss before reclassifications		(933	)		-			(5,124	)	(3)		(6,057	)
Amounts reclassified from AOCL		-			-			-				-
Net current-period other comprehensive loss		(933	)		-			(5,124	)			(6,057	)
Ending Balance – March 31, 2019	$	(19,765	)	$	(10,541	)	$	436			$	(29,870	)

Note 7 - Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2020

Disaggregation of Revenue [Table Text Block]

	*Net Sales by Segment*
	*Three Months Ended March 31, 2020*
Product Classes	*Domestic*		*International*		*Total*
Residential products	$	243,830	$	13,789	$	257,619
Commercial & industrial products		95,827		76,239		172,066
Other		36,373		9,857		46,230
Total net sales	$	376,030	$	99,885	$	475,915

	Net Sales by Segment
	Three Months Ended March 31, 2019
Product Classes	Domestic		International		Total
Residential products	$	204,259	$	13,571	$	217,830
Commercial & industrial products		120,825		88,299		209,124
Other		31,414		11,985		43,399
Total net sales	$	356,498	$	113,855	$	470,353

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	*Adjusted EBITDA*
	*Three Months Ended March 31,*
	*2020*			*2019*
Domestic	$	82,775		$	81,228
International		3,250			5,900
Total adjusted EBITDA	$	86,025		$	87,128

Interest expense		(9,053	)		(10,272	)
Depreciation and amortization		(16,116	)		(12,607	)
Non-cash write-down and other adjustments (1)		(2,284	)		1,400
Non-cash share-based compensation expense (2)		(4,574	)		(3,594	)
Transaction costs and credit facility fees (3)		(234	)		(1,286	)
Business optimization expenses (4)		(512	)		(169	)
Other		(397	)		154
Income before provision for income taxes	$	52,855		$	60,754

Note 8 - Balance Sheet Details (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Inventory, Current [Table Text Block]

	*March 31,*		*December 31,*
	*2020*		*2019*
Raw materials	$	330,711	$	328,021
Work-in-process		8,026		10,387
Finished goods		220,958		183,616
Total	$	559,695	$	522,024

Property, Plant and Equipment [Table Text Block]

	*March 31,*			*December 31,*
	*2020*			*2019*

Land and improvements	$	16,910		$	18,252
Buildings and improvements		178,036			177,079
Machinery and equipment		118,323			117,114
Dies and tools		22,283			22,040
Vehicles		3,720			3,955
Office equipment and systems		99,473			99,124
Leasehold improvements		4,233			4,293
Construction in progress		40,092			36,299
Gross property and equipment		483,070			478,156
Accumulated depreciation		(167,242	)		(161,180	)
Total	$	315,828		$	316,976

Note 9 - Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2020

Accounts Receivable, Allowance for Credit Loss [Table Text Block]

	*Three Months Ended March 31, 2020*
Balance at beginning of period	$	8,114
Provision for credit losses		317
Charge-offs		(163	)
Currency translation		(600	)
Balance at end of period	$	7,668

Note 10 - Product Warranty Obligations (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Product Warranty Liability [Table Text Block]

	*Three Months Ended March 31,*
	*2020*			*2019*
Balance at beginning of period	$	49,316		$	41,785
Product warranty reserve assumed in acquisition		-			212
Payments		(7,588	)		(5,634	)
Provision for warranty issued		8,286			6,960
Changes in estimates for pre-existing warranties		(991	)		239
Balance at end of period	$	49,023		$	43,562

	*Three Months Ended March 31,*
	*2020*			*2019*
Balance at beginning of period	$	78,738		$	68,340
Deferred revenue contracts issued		5,939			5,800
Amortization of deferred revenue contracts		(3,797	)		(3,296	)
Balance at end of period	$	80,880		$	70,844

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]

Remainder of 2020	$	12,192
2021		17,253
2022		15,782
2023		12,351
2024		8,173
After 2024		15,129
Total	$	80,880

Product Warranty Obligations Included In Consolidated Balance Sheet [Table Text Block]

	*March 31,*		*December 31,*
	*2020*		*2019*
Product warranty liability
Current portion - other accrued liabilities	$	27,504	$	27,885
Long-term portion - other long-term liabilities		21,519		21,431
Total	$	49,023	$	49,316

Deferred revenue related to extended warranties
Current portion - other accrued liabilities	$	18,764	$	15,519
Long-term portion - other long-term liabilities		62,116		63,219
Total	$	80,880	$	78,738

Note 12 - Credit Agreements (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Short-term Debt [Table Text Block]

	*March 31,*		*December 31,*
	*2020*		*2019*
ABL facility	$	21,308	$	30,961
Other lines of credit		28,570		27,753
Total	$	49,878	$	58,714

Schedule of Long-term Debt Instruments [Table Text Block]

	*March 31,*			*December 31,*
	*2020*			*2019*
Term loan	$	830,000		$	830,000
Original issue discount and deferred financing costs		(17,406	)		(18,048	)
Finance lease obligation		27,417			25,962
Other		3,630			2,236
Total		843,641			840,150
Less: current portion of debt		2,394			553
Less: current portion of finance lease obligation		1,867			1,830
Total	$	839,380		$	837,767

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Note 14 - Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	*Three Months Ended March 31,*
	*2020*			*2019*
Numerator
Net income attributable to Generac Holdings Inc.	$	44,460		$	44,861
Redeemable noncontrolling interest redemption value adjustment		(1,522	)		2,432
Net income attributable to common shareholders	$	42,938		$	47,293

Denominator
Weighted average shares, basic		62,126,481			61,762,260
Dilutive effect of stock compensation awards (1)		1,157,256			461,378
Diluted shares		63,283,737			62,223,638

Net income attributable to common shareholders per share
Basic	$	0.69		$	0.77
Diluted	$	0.68		$	0.76

Note 1 - Description of Business and Basis of Presentation (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
Goodwill and Intangible Asset Impairment, Total	$ 0
Retained Earnings (Accumulated Deficit), Ending Balance	$ 1,126,174		$ 1,084,383
Accounting Standards Update 2016-13 [Member]
Retained Earnings (Accumulated Deficit), Ending Balance		$ (1,147)

Note 2 - Acquisitions (Details Textual) - USD ($) $ in Thousands			3 Months Ended
	Apr. 26, 2019	Mar. 12, 2019	Mar. 31, 2020	Sep. 30, 2019	Mar. 31, 2019	Dec. 31, 2019
Payments to Acquire Businesses, Net of Cash Acquired, Total			$ (0)		$ 61,549
Goodwill, Ending Balance			$ 793,576			$ 805,284
Pika [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total	$ 49,068
Business Acquisition, Purchase Price Allocation, Intangible Assets Including Goodwill	58,196
Goodwill, Ending Balance	$ 19,896
Neurio [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total		$ 59,071		$ 7,922
Business Acquisition, Purchase Price Allocation, Intangible Assets Including Goodwill		58,762
Goodwill, Ending Balance		$ 17,862

Note 3 - Redeemable Noncontrolling Interest (Details Textual) - USD ($) $ in Thousands		1 Months Ended
	Feb. 01, 2019	Feb. 28, 2019	Mar. 01, 2016
Pramac [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners			35.00%
Captiva Energy Solutions [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	49.00%
Pramac [Member]
Business Acquisition, Percentage of Voting Interests Acquired			65.00%
Redeemable Noncontrolling Interest, Equity, Fair Value, Total			$ 34,253
Noncontrolling Interest Agreement, Extension of Term (Year)		5 years
Captiva Energy Solutions [Member]
Business Acquisition, Percentage of Voting Interests Acquired	51.00%
Redeemable Noncontrolling Interest, Equity, Fair Value, Total	$ 3,165
Business Acquisition, Noncontrolling Interest, Term of Put Option (Year)	5 years
Business Acquisition, Term of Call Option (Year)	5 years

Note 3 - Redeemable Noncontrolling Interest - Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Redemption value adjustment	$ (1,522)	$ 2,432
Redeemable Noncontrolling Interest [Member]
Balance at beginning of period	61,227	61,004
Net income	(629)	265
Foreign currency translation	(2,216)	(1,480)
Redemption value adjustment	1,522	(2,432)
Balance at end of period	$ 59,904	$ 57,357

Carrying amount, attributable to parent and noncontrolling interests, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer.

+ References + Details

Note 4 - Derivative Instruments and Hedging Activities (Details Textual) $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	Mar. 31, 2020 USD ($)	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2017	Dec. 31, 2019 USD ($)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax		$ (15,813)	$ (5,124)
Derivative Assets (Liabilities), Net Fair Value of Derivative Contracts, Excluding Impact of Credit Risk	$ (34,226)	$ (34,226)			$ (10,588)
Commodity Contract [Member]
Derivative, Number of Instruments Held, Total	0	0
Interest Rate Swap [Member]
Number of New Contracts Entered	3			20
Derivative, Number of Instruments Outstanding	19	19
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax		$ (15,813)	$ (5,124)

Note 4 - Derivative Instruments and Hedging Activities - Fair Value of Derivatives (Details) - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Commodity Contract [Member]
Fair Value of Derivatives	$ (1,810)	$ 6
Foreign Exchange Contract [Member]
Fair Value of Derivatives	210	31
Interest Rate Swap [Member]
Fair Value of Derivatives	$ (31,579)	$ (10,425)

Note 5 - Fair Value Measurements (Details Textual) $ in Thousands	Mar. 31, 2020 USD ($)
Long-term Debt, Total	$ 813,522
Long-term Debt, Fair Value	$ 798,875

Note 6 - Accumulated Other Comprehensive Loss (Details Textual) - Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Other Comprehensive Income (Loss), before Reclassifications, before Tax	$ (21,154)	$ (6,924)
Other Comprehensive Income (Loss) before Reclassifications, Tax, Total	$ 5,341	$ 1,800

Note 6 - Accumulated Other Comprehensive Loss - Disclosure of Changes in Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2020

Mar. 31, 2019

$ 1,032,851

$ 761,261

Accumulated Foreign Currency Adjustment Attributable to Parent [Member]

1,023,687

809,955

(16,622)

(18,832)

(33,214)

^[1]

(933)

(33,214)

(933)

Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]

(49,836)

(19,765)

(10,541)

Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]

(10,541)

(8,295)

5,560

(15,813)

^[2]

(5,124)

^[3]

(15,813)

(5,124)

AOCI Attributable to Parent [Member]

(24,108)

436

(24,917)

(23,813)

(49,027)

(6,057)

(49,027)

(6,057)

$ (73,944)

$ (29,870)

[1]	Represents the unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the three months ended March 31, 2020, particularly the Mexican Peso, Euro, Brazilian Real, and Russian Ruble.
[2]	Represents unrealized losses of $(21,154), net of tax effect of $5,341 for the three months ended March 31, 2020.
[3]	Represents unrealized losses of $(6,924), net of tax effect of $1,800 for the three months ended March 31, 2019.

Amount after tax and reclassification adjustments of other comprehensive income (loss).

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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Note 7 - Segment Reporting (Details Textual) $ in Thousands	3 Months Ended		12 Months Ended
Note 7 - Segment Reporting (Details Textual) $ in Thousands	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2019
Number of Reportable Segments	2
Revenue from Contract with Customer, Excluding Assessed Tax, Total	$ 475,915	$ 470,353
Adjusted EBITDA	$ 86,025	$ 87,128
Geographic Concentration Risk [Member] \| Revenue Benchmark [Member] \| UNITED STATES
Concentration Risk, Percentage	77.00%	72.00%
Geographic Concentration Risk [Member] \| Net Assets, Geographic Area [Member] \| UNITED STATES
Concentration Risk, Percentage	82.00%		80.00%
Amounts Adjusted from the Domestic Segment to the International Segment [Member]
Revenue from Contract with Customer, Excluding Assessed Tax, Total		$ 2,750
Adjusted EBITDA		$ (253)

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Note 7 - Segment Reporting - Net Sales by Products and Services (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net sales	$ 475,915	$ 470,353
Domestic [Member]
Net sales	376,030	356,498
International [Member]
Net sales	99,885	113,855
Residential Power Products [Member]
Net sales	257,619	217,830
Residential Power Products [Member] \| Domestic [Member]
Net sales	243,830	204,259
Residential Power Products [Member] \| International [Member]
Net sales	13,789	13,571
Commercial and Industrial Power Products [Member]
Net sales	172,066	209,124
Commercial and Industrial Power Products [Member] \| Domestic [Member]
Net sales	95,827	120,825
Commercial and Industrial Power Products [Member] \| International [Member]
Net sales	76,239	88,299
Other Products and Services [Member]
Net sales	46,230	43,399
Other Products and Services [Member] \| Domestic [Member]
Net sales	36,373	31,414
Other Products and Services [Member] \| International [Member]
Net sales	$ 9,857	$ 11,985

Depreciation and amortization

Note 7 - Segment Reporting - Segment Information (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2020

Mar. 31, 2019

Adjusted EBITDA

$ 86,025

$ 87,128

Interest expense

(9,053)

(10,272)

(16,116)

(12,607)

Non-cash write-down and other adjustments (1)

^[1]

(2,284)

1,400

Non-cash share-based compensation expense (2)

^[2]

(4,574)

(3,594)

Transaction costs and credit facility fees (3)

^[3]

(234)

(1,286)

Business optimization expenses (4)

^[4]

(512)

(169)

Other

(397)

154

Income before provision for income taxes

52,855

60,754

Domestic [Member]

Adjusted EBITDA

82,775

81,228

International [Member]

Adjusted EBITDA

$ 3,250

$ 5,900

[1]	Includes certain foreign currency and purchase accounting related adjustments, gains/losses on disposal of assets and unrealized mark-to-market adjustments on commodity contracts.
[2]	Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods.
[3]	Represents transaction costs incurred directly in connection with any investment, as defined in our credit agreement, equity issuance, debt issuance or refinancing, together with certain fees relating to our senior secured credit facilities.
[4]	Represents severance and other non-recurring restructuring charges related to the consolidation of certain of our facilities.

Note 8 - Balance Sheet Details (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Capital Leases, Balance Sheet, Assets by Major Class, Net, Total	$ 27,364	$ 26,063

Note 8 - Balance Sheet Details - Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Raw materials	$ 330,711	$ 328,021
Work-in-process	8,026	10,387
Finished goods	220,958	183,616
Total	$ 559,695	$ 522,024

Note 8 - Balance Sheet Details - Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Property and equipment, gross	$ 483,070	$ 478,156
Accumulated depreciation	(167,242)	(161,180)
Total	315,828	316,976
Land and Land Improvements [Member]
Property and equipment, gross	16,910	18,252
Building and Building Improvements [Member]
Property and equipment, gross	178,036	177,079
Machinery and Equipment [Member]
Property and equipment, gross	118,323	117,114
Dies and Tools [Member]
Property and equipment, gross	22,283	22,040
Vehicles [Member]
Property and equipment, gross	3,720	3,955
Office Equipment [Member]
Property and equipment, gross	99,473	99,124
Leasehold Improvements [Member]
Property and equipment, gross	4,233	4,293
Construction in Progress [Member]
Property and equipment, gross	$ 40,092	$ 36,299

Note 9 - Allowance for Credit Losses (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Accounts Receivable, before Allowance for Credit Loss	$ 319,681
Accounts Receivable, Allowance for Credit Loss, Ending Balance	$ 7,668	$ 8,114

Note 9 - Allowance for Credit Losses - Summary of Allowance for Doubtful Accounts (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($)
Balance at beginning of period	$ 8,114
Provision for credit losses	317
Charge-offs	(163)
Currency translation	(600)
Balance at end of period	$ 7,668

Note 10 - Product Warranty Obligations 1 (Details Textual)	3 Months Ended
	Mar. 31, 2020
Minimum [Member]
Extended Warranty Term (Year)	5 years
Maximum [Member]
Extended Warranty Term (Year)	10 years

Note 10 - Product Warranty Obligations 2 (Details Textual)	Mar. 31, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year

Note 10 - Product Warranty Obligations - Reconciliation of Product Warranty Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Balance at beginning of period	$ 49,316	$ 41,785
Product warranty reserve assumed in acquisition	0	212
Payments	(7,588)	(5,634)
Provision for warranty issued	8,286	6,960
Changes in estimates for pre-existing warranties	(991)	239
Balance at end of period	49,023	43,562
Balance at beginning of period	78,738	68,340
Deferred revenue contracts issued	5,939	5,800
Amortization of deferred revenue contracts	(3,797)	(3,296)
Balance at end of period	$ 80,880	$ 70,844

Note 10 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties (Details) $ in Thousands	Mar. 31, 2020 USD ($)
Revenue performance obligation	$ 80,880

Note 10 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties 2 (Details) $ in Thousands	Mar. 31, 2020 USD ($)
Revenue performance obligation	$ 80,880
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue performance obligation	12,192
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue performance obligation	17,253
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue performance obligation	15,782
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue performance obligation	12,351
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue performance obligation	8,173
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue performance obligation	$ 15,129

Note 10 - Product Warranty Obligations - Deferred Product Obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Current portion - other accrued liabilities	$ 27,504	$ 27,885
Long-term portion - other long-term liabilities	21,519	21,431
Total	49,023	49,316	$ 43,562	$ 41,785
Current portion - other accrued liabilities	18,764	15,519
Long-term portion - other long-term liabilities	62,116	63,219
Total	$ 80,880	$ 78,738	$ 70,844	$ 68,340

Note 11 - Contract Balances (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Contract with Customer, Liability, Current	$ 6,833	$ 9,952
Contract with Customer, Liability, Revenue Recognized	$ 4,715

Note 12 - Credit Agreements (Details Textual) $ in Thousands		1 Months Ended		3 Months Ended
	May 31, 2013 USD ($)	Dec. 31, 2019 USD ($)	May 31, 2015	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Short-term Debt, Total		$ 58,714		$ 49,878	$ 58,714
ABL Revolving Credit Facility [Member]
Long-term Line of Credit, Total				21,308
Line of Credit Facility, Remaining Borrowing Capacity				$ 265,438
Base Rate [Member] \| ABL Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate			1.00%	0.125%
Adjusted LIBOR Rate [Member] \| ABL Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate			2.00%
London Interbank Offered Rate (LIBOR) [Member] \| ABL Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate				1.125%
Term Loan [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,200,000
Uncommitted Incremental Term Loan Facility	$ 300,000
Debt Issuance Costs, Net, Total		1,247			1,247
Debt Instrument, Fee Amount		$ 432			432
Repayments of Long-term Debt, Total					49,000
Gain (Loss) on Extinguishment of Debt, Total					$ (926)
Secured Leverage Ratio				1.48
Term Loan [Member] \| Maximum [Member]
Threshold for Secured Leverage Ratio Excess Cash Flow Payment Requirement				3.75
Term Loan [Member] \| Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1.75%	0.75%
Term Loan [Member] \| Adjusted LIBOR Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	2.75%
Term Loan [Member] \| LIBOR Floor Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.75%
Term Loan [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.75%

Note 12 - Credit Agreements - Short-term Borrowings (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Short-term borrowings	$ 49,878	$ 58,714
ABL Revolving Credit Facility [Member]
Short-term borrowings	21,308	30,961
Other Lines of Credit [Member]
Short-term borrowings	$ 28,570	$ 27,753

Note 12 - Credit Agreements - Long-term Borrowings (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Term loan	$ 830,000	$ 830,000
Original issue discount and deferred financing costs	(17,406)	(18,048)
Finance lease obligation	27,417	25,962
Other	3,630	2,236
Total	843,641	840,150
Less: current portion of debt	2,394	553
Less: current portion of finance lease obligation	1,867	1,830
Total	$ 839,380	$ 837,767

Note 13 - Stock Repurchase Program (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended	56 Months Ended
	Sep. 30, 2018	Mar. 31, 2020	Mar. 31, 2020	Oct. 31, 2016	Aug. 31, 2015
Stock Repurchase Program, Authorized Amount	$ 250,000			$ 250,000	$ 200,000
Stock Repurchase Program, Period in Force (Month)	24 months
Payments for Repurchase of Common Stock			$ 305,547
Treasury Stock Acquired, Average Cost Per Share (in dollars per share)			$ 35.21
Treasury Stock [Member]
Shares Acquired Under Stock Repurchases Program, Shares (in shares)		0	8,676,706

Note 14 - Earnings Per Share (Details Textual) - shares	3 Months Ended
Note 14 - Earnings Per Share (Details Textual) - shares	Mar. 31, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)		71,800

Note 14 - Earnings Per Share - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

Mar. 31, 2020

Mar. 31, 2019

Net income attributable to Generac Holdings Inc.

$ 44,460

$ 44,861

Redeemable noncontrolling interest redemption value adjustment

(1,522)

2,432

Net income attributable to common shareholders

$ 42,938

$ 47,293

Weighted average shares, basic (in shares)

62,126,481

61,762,260

Dilutive effect of stock compensation awards (in shares)

^[1]

1,157,256

461,378

Diluted shares (in shares)

63,283,737

62,223,638

Basic (in dollars per share)

$ 0.69

$ 0.77

Diluted (in dollars per share)

$ 0.68

$ 0.76

[1]	Excludes approximately 71,800 stock options for the three months ended March 31, 2019, as the impact of such awards was anti-dilutive. There were no awards with an anti-dilutive impact for the three months ended March 31, 2020.

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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