0001437749-23-004153 | 10-K | XBRL Viewer

Commitments and Contingencies Disclosure [Text Block]

18.

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 December 31, 2022 and 2021 was approximately $212,200 and $115,900, respectively.

On August 1, 2022, Power Home Solar, LLC d/b/a Pink Energy filed a lawsuit in the Western District of Virginia against Generac Power Systems, Inc., a wholly-owned subsidiary of the Company (“Generac Power”). The complaint alleges breaches of warranty, product liability, and other various causes of action against Generac Power relating to the sale and performance of certain clean energy equipment and seeks to recover damages, including consequential damages, that Power Home Solar allegedly incurred. The Company disputes the allegations in the complaint, including that Power Home Solar can seek consequential damages or amounts greater than the $25,000 liability cap set forth in the agreement between the parties. On September 23, 2022, Generac Power moved to dismiss the complaint and compel arbitration consistent with the parties’ agreement. On October 7, 2022, Power Home Solar, LLC filed a Chapter 7 bankruptcy petition in the Western District of North Carolina that identified Generac Power as one of its outstanding creditors. The petition listed a $17,700 liability to Generac Power, which Power Home Solar characterized as disputed. The $17,700 claim relates to equipment that Generac Power sold to Power Home Solar but was not paid for. The parties agreed to toll Power Home Solar’s deadline to respond to the motion to dismiss after Power Home Solar filed the petition for bankruptcy to allow the bankruptcy trustee to evaluate the complaint. The Company intends to vigorously defend against the claims in the complaint, whichever forum in which it may proceed.

On October 28, 2022, Daniel Haak filed a putative class action lawsuit against Generac Power in the Middle District of Florida. The complaint alleges breaches of warranty, tort-based, and unjust enrichment claims against Generac Power relating to the sale and performance of certain clean energy products, and seeks to recover damages, including consequential damages, that the plaintiff and putative class allegedly incurred. The Company disputes the allegations and intends to vigorously defend against the claims in the complaint, including that plaintiff and the putative class can seek consequential damages. Genera Power filed a motion to dismiss the complaint on December 28, 2022.

Four additional putative class actions were filed by consumers of Generac clean energy products between November 21, 2022 and February 2, 2023. These complaints assert claims for breaches of warranty, tort-based, statutory, and unjust enrichment claims against Generac Power or the Company and seek to recover damages, including consequential damages, that plaintiffs and putative class allegedly incurred. The cases are pending in the Eastern District of Wisconsin (Basler, et al. v. Generac Power Systems, Inc., Case No. 22-cv-01386-NJ and Dillon v. Generac Power Systems, Inc., Case No. 23-cv-00034-NJ), the Northern District of California (Moon v. Generac Power Systems, Inc. et al., Case No. 22-cv-09183-CRB), and the Eastern District of California (Locatell v. Generac Power Systems, Inc., et al., Case No. 23-cv-00203-TLN). The Company disputes the allegations and intends to vigorously defend against the claims in the complaints. Generac Power’s motion to dismiss the Basler complaint is pending with the court.

On December 1, 2022, Oakland County Voluntary Employees’ Beneficiary Association and Oakland County Employees’ Retirement System filed a putative securities class action lawsuit against the Company and certain of its officers in the Eastern District of Wisconsin. On January 20, 2023, the California Ironworkers Field Pension Trust filed a related putative securities class action, also in the United States District Court for the Eastern District of Wisconsin. Both complaints assert claims for alleged violation of federal securities law related to disclosures of quality issues in Generac’s clean energy product, reliance on channel partners, and accounting for warranty reserves. The plaintiffs seek to represent a class of individuals who purchased or otherwise acquired common stock between April 29, 2021 and November 1, 2022 and ask for unspecified compensatory damages and other relief on behalf of a purported class of purchasers. Motions to consolidate the putative class actions and to appoint lead plaintiff have been filed and are pending with the court. In addition, in relation to the aforementioned cases, on February 3, 2023, a purported Company shareholder filed a shareholder derivative action against certain of the Company’s officers and directors in the United States District Court for the Eastern District of Wisconsin. The complaint seeks unspecified damages on behalf of the Company and certain other relief, such as certain reforms to corporate governance practices. The complaint (in which the Company is named as a nominal defendant) generally alleges, among other things, breaches of fiduciary duties in connection with the oversight of the Company’s public statements and legal compliance, and that the Company was damaged as a result of the breaches of fiduciary duties, and the defendants were unjustly enriched. The complaint also alleges, among other things, violations of Sections 14(a), 10(b) and 20(a) of the Securities Exchange Act of 1934, abuse of control, gross mismanagement, and waste of corporate assets. The Company disputes the allegations and intends to vigorously defend against the claims in the complaint.

On October 28, 2022, Generac Power received a grand jury subpoena from the U.S. Attorney for the Eastern District of Michigan, as a result of which the Company became aware of an enforcement investigation by the U.S. Department of Justice (“DOJ”). The subpoena requests similar documents and information provided by the Company to the U.S. EPA and the CARB in response to civil document requests related to the Company’s compliance with emissions regulations for approximately 1,850 portable generators produced by the Company in 2019 and 2020 and sold in 2020. The Company is cooperating with both the DOJ and the EPA and CARB inquiries.

On November 30, 2022, the CPSC notified the Company of its intention to recommend the imposition of a penalty for failing to timely submit a report under section 19(a)(4) of the CPSA, 15 U.S.C. § 2068(a)(4), in relation to certain portable generators that were subject to a voluntary recall previously announced on July 29, 2021. Although the Company is cooperating with the CPSC on this matter, the matter is unresolved and still pending ongoing discussion with the CPSC.

In the opinion of management, it is presently unlikely that any legal or regulatory proceedings pending against or involving the Company will have a material adverse effect on the Company’s financial condition, results of operations or cash flows. However, in many of these matters, it is inherently difficult to determine whether a loss is probable or to estimate the size or range of the possible loss given the variety and potential outcomes of actual and potential claims, the uncertainty of future rulings, the behavior or incentives of adverse parties, and other factors outside the control of the Company. Accordingly, the Company’s loss reserves may change from time to time, and actual losses could exceed the amounts reserved by an amount that could be material to the Company’s consolidated financial position, results of operations or cash flows in any particular reporting period.

Note 8 - Balance Sheet Details

12 Months Ended

Dec. 31, 2022

Supplemental Balance Sheet Disclosures [Text Block]

8.	Balance Sheet Details

Inventories consist of the following:

	*December 31,*
	*2022*		*2021*
Raw material	$	798,340	$	727,162
Work-in-process		14,899		10,756
Finished goods		592,145		351,787
Total	$	1,405,384	$	1,089,705

As of December 31, 2022 and 2021, inventories totaling $17,914 and $15,555, respectively, were on consignment at customer locations.

Property and equipment consists of the following:

	*December 31,*
	*2022*			*2021*
Land and improvements	$	22,589		$	26,137
Buildings and improvements		243,553			244,273
Machinery and equipment		229,593			186,611
Dies and tools		37,343			31,581
Vehicles		9,807			7,621
Office equipment and systems		148,166			125,048
Leasehold improvements		6,849			5,679
Construction in progress		52,522			47,601
Gross property and equipment		750,422			674,551
Accumulated depreciation		(282,818	)		(233,699	)
Total	$	467,604		$	440,852

Total property and equipment included finance leases of $24,719 and $36,776 at December 31, 2022 and 2021, respectively, primarily made up of buildings and improvements. Amortization of finance lease right of use assets is recorded within depreciation expense in the 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 consolidated statement of cash flows. Refer to Note 10, “Leases,” for further information regarding the Company’s accounting for leases under ASC 842, Leases.

Note 15 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current:
Federal	$ 118,320	$ 105,236	$ 62,714
State	25,743	21,295	13,071
Foreign	51,055	10,536	1,974
Current Income Tax Expense (Benefit), Total	195,118	137,067	77,759
Deferred:
Federal	(43,475)	10,518	20,452
State	(10,966)	(3,728)	1,243
Foreign	(40,109)	(7,863)	(1,197)
Deferred Income Tax Expense (Benefit) Before Adjustment of Valuation Allowance	(94,550)	(1,073)	20,498
Change in valuation allowance	(972)	(1,037)	716
Provision for income taxes	$ 99,596	$ 134,957	$ 98,973

Note 16 - Benefit Plans (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employer Contribution under Medical and Dental Plan	$ 31,180	$ 24,189	$ 24,617
Savings Plan 401(k) [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	50.00%
Defined Contribution Plan Percentage of Eligible Compensation	6.00%
Defined Contribution Plan, Cost	$ 4,141	$ 6,725	$ 5,332

Note 4 - Redeemable Noncontrolling Interest

12 Months Ended

Dec. 31, 2022

Redeemable Noncontrolling Interest [Text Block]

4.	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 consolidated balance sheet, as the noncontrolling interest holder had 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 held 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. In May 2021, the Company exercised its call option rights and paid a purchase price of $27,164 to purchase an additional 15% ownership interest in Pramac, bringing the Company's total ownership interest to 80%. The Company still holds its call option right to purchase the remaining 20% ownership interest in partial increments over the next two years.

On February 1, 2019, the Company acquired a 51% ownership interest in Captiva Energy Solutions, Ltd (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 consolidated balance sheet, as the noncontrolling interest holder had 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. 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 put and call option price is based on a multiple of earnings, subject to the terms of the acquisition agreement. In March 2022, the Company signed an agreement to purchase an additional 15% ownership interest in Captiva for a purchase price of $461, bringing the Company's total ownership interest in Captiva to 66%. In May 2022, the Company signed an amendment to the purchase agreement resulting in a revised purchase price of $375, which was paid with cash on hand. The Company still holds its call option right to purchase the remaining 34% ownership interest any time after five years from the date of acquisition, or earlier upon the occurrence of certain circumstances.

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 subsequent 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 consolidated financial statements. The following table presents the changes in the redeemable noncontrolling interest:

	*Year Ended December 31,*
	*2022*			*2021*			*2020*
Balance at beginning of period	$	58,050		$	66,207		$	61,227
Share of net income (loss)		7,543			5,574			(2,829	)
Foreign currency translation		(3,982	)		(3,669	)		6,562
Purchase of additional ownership interest		(375	)		(27,164	)		-
Redemption value adjustment		49,235			17,102			1,247
Balance at end of period	$	110,471		$	58,050		$	66,207

Note 8 - Balance Sheet Details (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Inventory, Materials, Supplies and Merchandise under Consignment, Gross	$ 17,914	$ 15,555
Finance Lease, Right-of-Use Asset, after Accumulated Amortization, Total	$ 24,719	$ 36,776

Note 15 - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Unrecognized tax benefit, beginning of period	$ 8,647	$ 7,613
Increase in unrecognized tax benefit for positions taken in prior period	97	272
Increase in unrecognized tax benefit for positions taken in current period	975	990
Statute of limitation expirations	(824)	(228)
Settlements	0	0
Unrecognized tax benefit, end of period	$ 8,895	$ 8,647

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

3 Months Ended

12 Months Ended

Dec. 31, 2022

Sep. 30, 2022

Jun. 30, 2022

Mar. 31, 2022

Dec. 31, 2021

Sep. 30, 2021

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Net income attributable to Generac Holdings Inc.

$ 71,015

$ 58,270

$ 156,359

$ 113,858

$ 142,895

$ 131,570

$ 127,036

$ 148,993

$ 399,502

$ 550,494

$ 350,576

Redeemable noncontrolling interest redemption value adjustment

(49,235)

(17,102)

(1,247)

Net income attributable to common shareholders

$ 350,267

$ 533,392

$ 349,329

Weighted average shares, basic (in shares)

63,117,007

62,686,001

62,280,889

Dilutive effect of stock compensation awards (in shares)

^[1]

1,087,219

1,534,603

1,456,845

Dilutive effect of contingently issued shares (in shares)

477,131

32,804

Diluted shares (in shares)

64,681,357

64,253,408

63,737,734

Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share)

$ 0.84

$ 2.24

$ 1.61

$ 2.09

$ 1.98

$ 2.06

$ 2.39

$ 5.55

$ 8.51

$ 5.61

Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share)

$ 0.83

$ 2.21

$ 1.57

$ 2.04

$ 1.93

$ 2.01

$ 2.33

$ 5.42

$ 8.30

$ 5.48

[1]	There were no awards with an anti-dilutive impact for the years ended December 31, 2021, 2020 and 2019.

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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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Note 6 - Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2022

Comprehensive Income (Loss) Note [Text Block]

6.	Accumulated Other Comprehensive Loss

The following presents a tabular disclosure of changes in AOCL during the years ended December 31, 2022 and 2021, net of tax:

	*Foreign Currency Translation Adjustments*				*Unrealized Gain (Loss) on Cash Flow Hedges*				*Total*

Beginning Balance – January 1, 2022	$	(52,704	)		$	(2,051	)		$	(54,755	)
Other comprehensive income (loss) before reclassifications		(48,841	)	(1)		38,494		(2)		(10,347	)
Amounts reclassified from AOCL		-				-				-
Net current-period other comprehensive income (loss)		(48,841	)			38,494				(10,347	)
Ending Balance – December 31, 2022	$	(101,545	)		$	36,443			$	(65,102	)

	Foreign Currency Translation Adjustments				Unrealized Gain (Loss) on Cash Flow Hedges				Total

Beginning Balance – January 1, 2021	$	(11,674	)		$	(22,580	)		$	(34,254	)
Other comprehensive income (loss) before reclassifications		(41,030	)	(3)		20,529		(4)		(20,501	)
Amounts reclassified from AOCL		-				-				-
Net current-period other comprehensive income (loss)		(41,030	)			20,529				(20,501	)
Ending Balance – December 31, 2021	$	(52,704	)		$	(2,051	)		$	(54,755	)

	(1)	Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the year ended December 31, 2022, particularly the Euro and British Pound.
	(2)	Represents unrealized gains of $51,352 on the interest rate swaps, net of tax effect of $(12,858) for the year ended December 31, 2022.
	(3)	Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the year ended December 31, 2021, particularly the Euro and British Pound.

(4)

Represents unrealized gains of $27,462 on the interest rate swaps, net of tax effect of $(6,933) for the year ended December 31, 2021.

Note 5 - Derivative Instruments and Hedging Activities - Fair Value of Derivatives (Details) - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Foreign Exchange Contract [Member]
Fair Value of Derivatives	$ 94	$ (36)
Interest Rate Swap [Member]
Fair Value of Derivatives	$ 49,279	$ (2,074)

Note 19 - Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2022

Quarterly Financial Information [Text Block]

19.

Quarterly Financial Information (Unaudited)

	*Quarters Ended 2022*
	Q1		Q2		Q3		Q4
Net sales	$	1,135,856	$	1,291,391	$	1,088,258	$	1,049,232
Gross profit		360,748		456,985		361,104		343,167
Operating income		154,735		216,844		87,523		107,228
Net income attributable to Generac Holdings Inc.		113,858		156,359		58,270		71,015
Net income attributable to common shareholders per common share - basic:	$	1.61	$	2.24	$	0.84	$	0.84
Net income attributable to common shareholders per common share - diluted:	$	1.57	$	2.21	$	0.83	$	0.83

	*Quarters Ended 2021*
	Q1		Q2		Q3		Q4
Net sales	$	807,434	$	919,981	$	942,698	$	1,067,071
Gross profit		321,814		339,735		335,994		362,539
Operating income		189,124		182,952		173,579		175,481
Net income attributable to Generac Holdings Inc.		148,993		127,036		131,570		142,895
Net income attributable to common shareholders per common share - basic:	$	2.39	$	2.06	$	1.98	$	2.09
Net income attributable to common shareholders per common share - diluted:	$	2.33	$	2.01	$	1.93	$	2.04

Note 2 - Summary of Accounting Policies - Summary of Allowance for Doubtful Accounts (Details)
$ in Thousands

12 Months Ended

Dec. 31, 2022

USD ($)

Established for acquisitions

$ 12,025

498

Provision for credit losses (1)

17,966

^[1]

Charge-offs

(2,554)

Currency translation

(271)

$ 27,664

[1]	Includes a specific credit loss provision of $17,926 recorded during the third quarter of 2022 for a clean energy product customer that filed for bankruptcy.

Note 14 - Earnings Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Text Block]

14.

Earnings Per Share

Basic earnings per share is calculated by dividing net income attributable to the common shareholders 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, as well as the satisfaction of certain contingent acquisition consideration conditions as of the end of the period. Refer to Note 4, “Redeemable Noncontrolling Interest,” to the consolidated financial statements 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:

	*Year Ended December 31,*
	*2022*			*2021*			*2020*
Numerator
Net income attributable to Generac Holdings Inc.	$	399,502		$	550,494		$	350,576
Redeemable noncontrolling interest redemption value adjustment		(49,235	)		(17,102	)		(1,247	)
Net income attributable to common shareholders	$	350,267		$	533,392		$	349,329

Denominator
Weighted average shares, basic		63,117,007			62,686,001			62,280,889
Dilutive effect of stock compensation awards (1)		1,087,219			1,534,603			1,456,845
Dilutive effect of contingently issued shares		477,131			32,804			-
Diluted shares		64,681,357			64,253,408			63,737,734

Net income attributable to common shareholders per share
Basic	$	5.55		$	8.51		$	5.61
Diluted	$	5.42		$	8.30		$	5.48

(1)

For the year ended December 31, 2022, excludes approximately 76,000 stock options and restricted stock awards as the impact of such awards was anti-dilutive. There were no awards with an anti-dilutive impact for the years ended December 31, 2021 and 2020.

Consolidated Statements of Stockholders' Equity (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
AOCI Attributable to Parent [Member]
Unrealized gain (loss) on interest rate swaps, tax	$ 12,858	$ 6,933	$ (4,826)

Note 11 - Product Warranty Obligations (Details Textual) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Standard Product Warranty Accrual, Warranty Provision	$ 37,338	$ 37,338
Capitalized Contract Cost, Net, Total		9,199	$ 8,479
Capitalized Contract Cost, Amortization		$ 1,932	$ 1,739	$ 1,303
Minimum [Member]
Extended Warranty Term (Year)		5 years
Maximum [Member]
Extended Warranty Term (Year)		10 years

Note 10 - Leases - Maturities of Lease liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
2023, finance lease	$ 4,487
2023, operating leases	34,208
2024, finance lease	4,223
2024, operating leases	30,834
2025, finance lease	3,639
2025, operating leases	20,386
2026, finance lease	3,137
2026, operating leases	9,855
2027, finance lease	2,929
2027, operating leases	8,334
After 2023, finance leases	24,405
After 2023, operating leases	14,743
Total minimum lease payments, finance leases	42,820
Total minimum lease payments, operating leases	118,360
Interest component	(15,400)
Interest component	(14,483)
Present value of minimum lease payments, finance leases	27,420	$ 39,175
Other Accrued Liabilities and Operating Lease and Other Long-term Liabilities [Member]
Present value of minimum lease payments, operating leases	$ 103,877	$ 103,919

Note 16 - Benefit Plans

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Text Block]

16.

Benefit Plans

Medical and Dental Plans

The Company maintains medical and dental benefit plans covering its full-time domestic employees and their dependents. These plans are partially or fully self-funded under which participant claims are obligations of the plan. These plans are funded through employer and employee contributions at a level sufficient to pay for the benefits provided by the plan. The Company’s contributions to the plans were $31,180, $24,189, and $24,617 for the years ended December 31, 2022, 2021 and 2020, respectively.

The Company’s foreign subsidiaries participate in government sponsored medical benefit plans and other local plans. In certain cases, the Company purchases supplemental medical coverage for certain employees at these foreign locations. The expenses related to these plans are not material to the Company’s consolidated financial statements.

Savings Plan

The Company maintains a defined-contribution 401(k) savings plan for eligible domestic employees. Under the plan, employees may defer receipt of a portion of their eligible compensation. The Company may contribute a matching contribution of 50% of the first 6% of eligible compensation of employees that is deferred. The Company may also contribute a non-elective contribution for eligible employees employed on December 31, 2008 that were impacted by the freezing of the Company’s pension plans. The Company’s matching contributions are subject to vesting. Forfeitures may be applied against plan expenses and Company contributions. The Company recognized $4,141, $6,725, and $5,332 of expense related to these plans for the years ended December 31, 2022, 2021 and 2020, respectively.

The entire disclosure for retirement benefits.

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-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Accounts Receivable, before Allowance for Credit Loss

Note 2 - Summary of Accounting Policies (Details Textual)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2022

USD ($)

Sep. 30, 2022

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Sep. 01, 2021

USD ($)

$ 550,122

Accounts Receivable, Allowance for Credit Loss, Ending Balance

27,664

$ 12,025

Accounts Receivable, Credit Loss Expense (Reversal)

^[1]

17,966

Depreciation, Total

52,821

42,155

$ 36,493

Goodwill and Intangible Asset Impairment, Total

Amortization of Financing Costs and Debt Discount Premium

3,234

2,589

2,598

Deferred Costs Amortization Expense, Next Twelve Months

3,885

Deferred Costs Amortization Expense, Year Two

3,923

Deferred Costs Amortization Expense, Year Three

3,919

Deferred Costs Amortization Expense, Year Four

3,819

Deferred Costs Amortization Expense, Year Five

1,028

Contract with Customer, Liability, Total

33,551

27,388

Contract with Customer, Liability, Revenue Recognized

27,388

Advertising Expense

100,589

66,660

53,678

Research and Development Expense, Total

159,774

104,303

80,251

Business Combination, Contingent Consideration, Liability, Total

81,533

146,759

Payment for Contingent Consideration Liability, Financing Activities

16,135

3,750

4,000

Business Combination, Acquisition Related Costs

1,459

21,465

$ 1,411

Acquisition of Off Grid Energy [Member]

Business Combination, Contingent Consideration, Liability, Total

$ 29,054

Payment for Contingent Consideration Liability, Financing Activities

$ 16,135

16,135

ecobee Inc. [Member]

Payment for Contingent Consideration Liability, Financing Activities

542

Contingent Consideration, Share Payments, Value

47,123

Other Accrued Liabilities [Member]

Business Combination, Contingent Consideration, Liability, Total

49,500

68,665

Other Long-term Liabilities [Member]

Business Combination, Contingent Consideration, Liability, Total

32,033

$ 78,094

Fair Value, Inputs, Level 2 [Member]

Debt Instrument, Fair Value Disclosure, Total

516,750

Term Loan [Member]

Long-Term Debt, Total

$ 523,305

523,305

Clean Energy Product [Member]

Accounts Receivable, Credit Loss Expense (Reversal)

$ 17,926

Accounts Receivable [Member] | Customer Concentration Risk [Member] | One Customer [Member]

Revenue Benchmark [Member] | Customer Concentration Risk [Member]

11.00%

8.00%

Number of Major Customers

Revenue Benchmark [Member] | Customer Concentration Risk [Member] | No Customer [Member]

4.00%

6.00%

[1]	Includes a specific credit loss provision of $17,926 recorded during the third quarter of 2022 for a clean energy product customer that filed for bankruptcy.

Note 9 - Goodwill and Intangible Assets - Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Balance	$ 1,409,674	$ 855,228
Acquisitions of businesses, net	22,565	578,061
Foreign currency translation	(31,359)	(23,615)
Balance	1,400,880	1,409,674
Goodwill, gross	1,908,684	1,917,478
Accumulated impairment	(507,804)	(507,804)
Goodwill	1,400,880	1,409,674
Domestic [Member]
Balance	995,444	702,535
Acquisitions of businesses, net	22,128	293,614
Foreign currency translation	(915)	(705)
Balance	1,016,657	995,444
Goodwill, gross	1,519,850	1,498,637
Accumulated impairment	(503,193)	(503,193)
Goodwill	1,016,657	995,444
International [Member]
Balance	414,230	152,693
Acquisitions of businesses, net	437	284,447
Foreign currency translation	(30,444)	(22,910)
Balance	384,223	414,230
Goodwill, gross	388,834	418,841
Accumulated impairment	(4,611)	(4,611)
Goodwill	$ 384,223	$ 414,230

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Note 5 - Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2022

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

	December 31, 2022		December 31, 2021
Foreign currency contracts	$	94	$	(36)
Interest rate swaps		49,279		(2,074	)

Note 9 - Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Goodwill [Table Text Block]

	*Domestic*			*International*			*Total*
Balance at December 31, 2020	$	702,535		$	152,693		$	855,228
Acquisitions of businesses, net		293,614			284,447			578,061
Foreign currency translation		(705	)		(22,910	)		(23,615	)
Balance at December 31, 2021		995,444			414,230			1,409,674
Acquisitions of businesses, net		22,128			437			22,565
Foreign currency translation		(915	)		(30,444	)		(31,359	)
Balance at December 31, 2022	$	1,016,657		$	384,223		$	1,400,880

	*December 31, 2022*							*December 31, 2021*
	Gross		Accumulated Impairment			Net		Gross		Accumulated Impairment			Net
Domestic	$	1,519,850	$	(503,193	)	$	1,016,657	$	1,498,637	$	(503,193	)	$	995,444
International		388,834		(4,611	)		384,223		418,841		(4,611	)		414,230
Total	$	1,908,684	$	(507,804	)	$	1,400,880	$	1,917,478	$	(507,804	)	$	1,409,674

Schedule Of Intangible Assets [Table Text Block]

			December 31, 2022							December 31, 2021
	Weighted Average Amortization Years		Gross		Accumulated Amortization			Net Book Value		Gross		Accumulated Amortization			Net Book Value
Finite-lived intangible assets:
Tradenames		14	$	157,751	$	(58,821	)	$	98,930	$	162,563	$	(47,353	)	$	115,210
Customer lists		11		577,203		(370,216	)		206,987		573,910		(335,188	)		238,722
Patents and technology		14		665,563		(210,806	)		454,757		662,341		(169,868	)		492,473
Software		-		1,046		(1,046	)		-		1,046		(1,046	)		-
Non-compete/other		5		70,585		(28,866	)		41,719		79,416		(12,980	)		66,436
Total finite-lived intangible assets			$	1,472,148	$	(669,755	)	$	802,393	$	1,479,276	$	(566,435	)	$	912,841
Indefinite-lived tradenames				128,321		-			128,321		128,321		-			128,321
Total intangible assets			$	1,600,469	$	(669,755	)	$	930,714	$	1,607,597	$	(566,435	)	$	1,041,162

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Note 13 - Stock Repurchase Programs (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	12 Months Ended			89 Months Ended
	Aug. 05, 2022	Sep. 30, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022
Stock Repurchase Program, Authorized Amount	$ 500,000	$ 250,000
Stock Repurchase Program, Period in Force (Year)	24 months	24 years
Treasury Stock, Shares, Acquired (in shares)			2,722,007
Treasury Stock, Value, Acquired, Cost Method			$ 345,840	$ 125,992
Payments for Repurchase of Common Stock			$ 345,840	$ 125,992	$ (0)	$ 777,379
Treasury Stock Acquired, Average Cost Per Share (in dollars per share)						$ 66.17
Treasury Stock [Member]
Treasury Stock, Shares, Acquired (in shares)			2,722,007	350,000
Treasury Stock, Value, Acquired, Cost Method			$ 345,840	$ 125,992
Shares Acquired Under Stock Repurchases Program, Shares (in shares)				350,000	0	11,748,713

Note 11 - Product Warranty Obligations (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Product Warranty Liability [Table Text Block]

	*Year Ended December 31,*
	*2022*			*2021*			*2020*
Balance at beginning of period	$	94,213		$	59,218		$	49,316
Product warranty reserve assumed in acquisition		-			3,932			124
Payments		(77,476	)		(42,682	)		(33,496	)
Provision for warranty issued		80,340			69,280			42,093
Changes in estimates for pre-existing warranties (1)		40,934			4,465			1,181
Balance at end of period	$	138,011		$	94,213		$	59,218

	*Year Ended December 31,*
	*2022*			*2021*			*2020*
Balance at beginning of period	$	111,647		$	89,788		$	78,738
Deferred revenue contracts issued		42,869			41,560			26,968
Amortization of deferred revenue contracts		(21,703	)		(19,701	)		(15,918	)
Balance at end of period	$	132,813		$	111,647		$	89,788

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

2023	$	30,291
2024		24,472
2025		22,120
2026		17,803
After 2026		38,127
Total	$	132,813

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

	*December 31,*
	*2022*		*2021*
Product warranty liability
Current portion - accrued product warranty	$	89,141	$	59,052
Long-term portion - other long-term liabilities		48,870		35,161
Total	$	138,011	$	94,213

Deferred revenue related to extended warranties
Current portion - other accrued liabilities	$	30,291	$	20,556
Long-term portion - other long-term liabilities		102,522		91,091
Total	$	132,813	$	111,647

Note 11 - Product Warranty Obligations

12 Months Ended

Dec. 31, 2022

Product Warranty Disclosure [Text Block]

11.

Product Warranty Obligations

The Company records a liability for standard product warranty obligations accounted for as assurance warranties at the time of sale of the related product to a customer based on 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:

	*Year Ended December 31,*
	*2022*			*2021*			*2020*
Balance at beginning of period	$	94,213		$	59,218		$	49,316
Product warranty reserve assumed in acquisition		-			3,932			124
Payments		(77,476	)		(42,682	)		(33,496	)
Provision for warranty issued		80,340			69,280			42,093
Changes in estimates for pre-existing warranties (1)		40,934			4,465			1,181
Balance at end of period	$	138,011		$	94,213		$	59,218

(1)	Includes a specific warranty provision recorded during the third quarter of 2022 in the amount of $37,338 to address certain clean energy product related matters.

The Company also 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. The Company believes the straight-line method is appropriate because the performance obligation is satisfied based on the passage of time. The amortization of deferred revenue is recorded to net sales in the consolidated statements of comprehensive income. The following is a tabular reconciliation of the deferred revenue related to extended warranty coverage:

	*Year Ended December 31,*
	*2022*			*2021*			*2020*
Balance at beginning of period	$	111,647		$	89,788		$	78,738
Deferred revenue contracts issued		42,869			41,560			26,968
Amortization of deferred revenue contracts		(21,703	)		(19,701	)		(15,918	)
Balance at end of period	$	132,813		$	111,647		$	89,788

The timing of recognition of the Company’s deferred revenue balance related to extended warranties at December 31, 2022 is as follows:

2023	$	30,291
2024		24,472
2025		22,120
2026		17,803
After 2026		38,127
Total	$	132,813

The Company has a post-sale extended warranty marketing agreement with a third party, pursuant to which the Company is required to pay fees to the third-party service provider based on the number of extended warranty contracts that they sell, which it classifies as costs to obtain a contract. These fees are deferred and recorded as other assets in the consolidated balance sheets, and then amortized to net sales in the consolidated statements of comprehensive income over the same period that the underlying deferred revenue is recognized. Deferred contract costs as of December 31, 2022 and 2021 were $9,199 and $8,479, respectively. Amortization of deferred contract costs recorded during the years ended December 31, 2022, 2021 and 2020 was $1,932, $1,739, and $1,303, respectively.

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

	*December 31,*
	*2022*		*2021*
Product warranty liability
Current portion - accrued product warranty	$	89,141	$	59,052
Long-term portion - other long-term liabilities		48,870		35,161
Total	$	138,011	$	94,213

Deferred revenue related to extended warranties
Current portion - other accrued liabilities	$	30,291	$	20,556
Long-term portion - other long-term liabilities		102,522		91,091
Total	$	132,813	$	111,647

Note 3 - Acquisitions

12 Months Ended

Dec. 31, 2022

Business Combination Disclosure [Text Block]

3.	Acquisitions

Fiscal 2022

Acquisitions

On June 30, 2022, the Company acquired EEC. Headquartered in Marlborough, Massachusetts, EEC is an industrial generator distributor as well as a provider of data center and telecom facility design, build, maintenance, and repair services.

On October 3, 2022, the Company acquired Blue Pillar, an industrial IoT platform developer that designs, deploys, and manages industrial IoT network software solutions to enable distributed energy generation monitoring and control.

The combined purchase price for these acquisitions was $25,654, net of cash acquired and funded solely through cash on hand. The Company recorded its preliminary purchase price allocation for EEC and Blue Pillar during the second quarter and fourth quarter of 2022, respectively, based on its estimates of the fair value of the acquired assets and assumed liabilities. The accompanying consolidated financial statements include the results of these two acquired businesses since the dates of acquisition through December 31, 2022.

Fiscal 2021

Acquisition of Deep Sea

On June 1, 2021, the Company acquired Deep Sea for a purchase price, net of cash acquired, of $420,700. Headquartered in Hunmanby, United Kingdom, Deep Sea is a designer and manufacturer of a diverse suite of flexible control solutions focused on the global power generation and transfer switch markets. The acquisition purchase price was funded solely through cash on hand.

The Company finalized the Deep Sea purchase price allocation during the second quarter of 2022 based on its estimates of the fair value of the acquired assets and assumed liabilities. The finalization did not result in material adjustments to the Company's preliminary estimates. As a result, the Company recorded $437,874 of intangible assets, including $263,604 of goodwill recorded in the International segment, as of the acquisition date. The goodwill ascribed to this acquisition is not deductible for tax purposes. The accompanying consolidated financial statements include the results of Deep Sea from the date of acquisition through December 31, 2022.

Acquisition of Chilicon

On July 2, 2021, the Company acquired Chilicon for a purchase price, net of cash acquired, of $61,129 inclusive of estimated contingent consideration. Based in Los Angeles, California, Chilicon is a designer and provider of grid-interactive microinverter and monitoring solutions for the solar market. Chilicon's power inversion and monitoring system technologies maximize photovoltaic (solar power) system production, lower installer operational cost, and promote end-user satisfaction. Total consideration consisted of the following:

Cash paid at closing	$	11,821
Deferred cash payment (1)		6,000
Common stock issued at closing		12,000
Contingent consideration (2)		31,308
Total purchase price	$	61,129

(1)	Payable on the third business day after December 31, 2023.
(2)	Payable in common stock issued upon achievement of certain performance targets within 45 calendar days following the conclusion of the contingent consideration period, December 31, 2025.

The Company finalized the Chilicon purchase price allocation during the second quarter of 2022 based on its estimates of the fair value of the acquired assets and assumed liabilities. The finalization did not result in material adjustments to the Company's preliminary estimates. As a result, the Company recorded $70,174 of intangible assets, including $36,974 of goodwill recorded in the Domestic segment, as of the acquisition date. The goodwill ascribed to the Chilicon acquisition is not deductible for tax purposes. The accompanying consolidated financial statements include the results of Chilicon from the date of acquisition through December 31, 2022.

Acquisition of Off Grid Energy

On September 1, 2021, the Company acquired Off Grid Energy for a purchase price of $56,949, net of cash acquired and inclusive of the then estimated contingent consideration of $29,054 payable in cash based on contingent consideration period performance. The contingent consideration was paid during the third quarter of 2022 in the amount of $16,135. Headquartered in Rugby, United Kingdom, Off Grid Energy is a designer and manufacturer of industrial-grade mobile energy storage systems. The acquisition purchase price was funded through cash on hand.

The Company finalized the Off Grid Energy purchase price allocation during the third quarter of 2022 based on its estimates of the fair value of the acquired assets and assumed liabilities. The finalization did not result in material adjustments to the Company's preliminary estimates. As a result, the Company recorded $56,076 of intangible assets, including $21,531 of goodwill recorded in the International segment, as of the acquisition date. The goodwill ascribed to this acquisition is not deductible for tax purposes. The accompanying consolidated financial statements include the results of Off Grid Energy from the date of acquisition through December 31, 2022.

Acquisition of ecobee

On December 1, 2021, the Company acquired ecobee for a purchase price, net of cash acquired, of $735,577 inclusive of estimated contingent consideration. Headquartered in Toronto, Canada, ecobee is a leader in sustainable home technology solutions including smart thermostats that deliver significant energy savings, security and peace of mind. The purchase price consisted of the following:

Cash paid at closing	$	225,403
Common stock issued at closing		420,774
Contingent consideration (1)		89,400
Total purchase price	$	735,577

(1)	To be paid in the form of common stock issued upon achievement of certain performance targets following the end of two contingent consideration periods, one ended June 30, 2022, and one originally ending June 30, 2023.

The contingent consideration for the period ended June 30, 2022, was paid during the fourth quarter of 2022 in the amount of $47,123 in shares of common stock, or 196,531 shares of common stock, and $542 was paid with cash on hand. Additionally, during the fourth quarter of 2022, the Company entered into a definitive agreement to accelerate the measurement and payment for the remaining contingent consideration period ending June 30, 2023. The parties agreed to a final payment amount of $45,000 issued with 466,188 shares of common stock during the first quarter of 2023.

The Company finalized the ecobee purchase price allocation during the fourth quarter of 2022 based on its estimates of the fair value of the acquired assets and assumed liabilities. The finalization did not result in material adjustments to the Company's preliminary estimates. As a result, the Company recorded $806,131 of intangible assets, including $248,231 of goodwill recorded in the Domestic segment, as of the acquisition date. A portion of the goodwill ascribed to this acquisition is deductible for tax purposes. The accompanying consolidated financial statements include the results of ecobee from the date of acquisition through December 31, 2022.

Other Acquisitions

On September 1, 2021, the Company acquired Apricity Code, an advanced engineering and product design company located in Bend, Oregon.

On October 1, 2021, the Company acquired Tank Utility, a provider of IoT propane tank monitoring that enables the optimization of propane fuel logistics.

The combined purchase price for these two acquisitions was $29,945, net of cash acquired, and was funded solely through cash on hand. The Company finalized its purchase price allocation during the third quarter of 2022 based on the Company's estimates of the fair value of the acquired assets and assumed liabilities. The finalization did not result in material adjustments to the Company's preliminary estimates. The accompanying consolidated financial statements include the results of these two acquired businesses since the dates of acquisition through December 31, 2022.

Fiscal 2020

Acquisition of Enbala

On October 7, 2020, the Company acquired Enbala for a purchase price, net of cash acquired, of $41,982. Enbala is one of the leading providers of distributed energy optimization and control software that helps support the operational stability of the world's power grids. The acquisition purchase price was funded solely through cash on hand.

The Company finalized its purchase price allocation during the third quarter of 2021 based on its estimates of the fair value of the acquired assets and assumed liabilities. The finalization did not result in material adjustments to the Company's preliminary estimates. As a result, the Company recorded $46,338 of intangible assets, including $27,038 of goodwill recorded in the Domestic segment, as of the acquisition date. A portion of the goodwill ascribed to this acquisition is deductible for tax purposes. The accompanying consolidated financial statements include the results of Enbala from the date of acquisition through December 31, 2022.

Other Acquisitions

On July 1, 2020, the Company acquired Energy Systems, its industrial distributor in northern California.

On September 1, 2020, the Company acquired Mean Green, a designer and manufacturer of commercial grade, battery-powered turf care products.

The combined purchase price for these acquisitions was $22,958 and was funded solely through cash on hand. The Company finalized its purchase price allocation for these two acquisitions during the third quarter of 2021 based on its estimates of the fair value of the acquired assets and assumed liabilities. The finalization did not result in material adjustments to the Company's preliminary estimates. The accompanying consolidated financial statements include the results of the acquired businesses since the dates of acquisition through December 31, 2022.

Summary Purchase Price Allocations

The fair values assigned to certain assets acquired and liabilities assumed for all acquisitions completed during the reporting period, as of the acquisition dates, are as follows:

	2022 Acquisitions		2021 Acquisitions								2020 Acquisitions
			Deep Sea		ecobee		All Other		Total
Accounts receivable	$	12,656	$	9,574	$	23,337	$	13,852	$	46,763	$	5,094
Inventories		3,138		9,970		7,258		7,034		24,262		3,575
Prepaid expenses and other current assets		4,707		1,181		5,689		6,594		13,464		858
Property and equipment		708		8,838		3,588		480		12,906		635
Intangible assets		8,711		174,270		557,900		81,171		813,341		26,235
Goodwill		6,870		263,604		248,231		83,859		595,694		40,395
Deferred income taxes		-		-		40,020		5,694		45,714		-
Other assets		1,953		151		9,289		8,526		17,966		1,122
Total assets acquired		38,743		467,588		895,312		207,210		1,570,110		77,914

Accounts payable		1,479		8,998		25,968		7,473		42,439		4,088
Accrued wages and employee benefits		1,429		2,106		1,354		872		4,332		700
Other accrued liabilities		7,934		1,737		19,898		18,258		39,893		2,151
Short-term borrowings		-		-		-		800		800		-
Current portion of long-term borrowings and finance lease obligations		-		-		-		233		233		-
Deferred income taxes		1,090		33,957		78,753		19,930		132,640		3,827
Other long-term liabilities		1,157		90		33,762		9,997		43,849		2,208
Long-term debt		-		-		-		1,624		1,624		-
Net assets acquired	$	25,654	$	420,700	$	735,577	$	148,023	$	1,304,300	$	64,940

The allocations of the purchase price to identifiable assets and liabilities for the 2021 and 2020 acquisitions are based on the final valuations performed to determine the fair value of the net assets as of their respective acquisition dates.

Pro Forma Information

The following unaudited pro forma information of the Company gives effect to all acquisitions as though the transactions had occurred on January 1, 2020. Refer to Note 1, “Description of Business,” for further information on the acquisitions included in the table.

	*Year Ended December 31,*
	*2022*		*2021*		*2020*
Net Sales:
As reported	$	4,564,737	$	3,737,184	$	2,485,200
Pro forma		4,593,485		3,932,250		2,764,363

Net income attributable to Generac Holdings Inc.:
As reported	$	399,502	$	550,494	$	350,576
Pro forma (1)		402,670		462,903		267,376

Net income attributable to Generac Holdings Inc. per common share - diluted
As reported	$	5.42	$	8.30	$	5.48
Pro forma		5.47		6.94		4.11

(1)

Includes additional pro forma intangible amortization from all acquisitions as though the transactions had occurred on January 1, 2020 of $941, $68,247, and $84,151 for the years ended December 31, 2022, 2021, and 2020, respectively.

This unaudited pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisitions been consummated on January 1, 2020.

Note 17 - Share Plans - Summary of Restricted Share Awards Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Non-vested (in shares)	365,965	456,194	491,637
Non-vested (in dollars per share)	$ 124.25	$ 68.42	$ 52.84
Granted (in shares)	287,821	126,339	183,868
Granted (in dollars per share)	$ 214.58	$ 223.09	$ 95.14
Vested (in shares)	(234,284)	(202,327)	(200,390)
Vested (in dollars per share)	$ 83.52	$ 58.99	$ 45.10
Forfeited (in shares)	(41,204)	(14,241)	(18,921)
Forfeited (in dollars per share)	$ 263.47	$ 138.64	$ 56.58
Non-vested (in shares)	378,298	365,965	456,194

Note 10 - Leases

12 Months Ended

Dec. 31, 2022

Lessee, Operating Leases and Finance Leases [Text Block]

10.

Leases

The Company leases certain manufacturing facilities, distribution centers, office space, warehouses, automobiles, machinery and computer equipment globally under both finance and operating leases. The Company’s leases have remaining lease terms of up to 20 years, of which certain leases, primarily within the buildings and improvements asset class, include options to extend the leases for up to 10 additional years. Further, the Company leases certain buildings from a noncontrolling interest holder, which the Company has determined to be arm's length transactions.

The Company determines if an arrangement is or contains a lease at contract inception. The Company recognizes a right of use (“ROU”) asset and lease liability at the lease commencement date based on the present value of the lease payments over the lease term. As the Company’s leases generally do not provide an implicit rate, the incremental borrowing rate is used to determine the present value of lease payments. The incremental borrowing rate is a collateralized rate determined based on the lease term, the Company’s credit rating, and other market information available at the commencement date. The ROU asset also includes any lease payments made prior to the commencement date and is reduced by any lease incentives. The lease term may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for operating leases is recognized on a straight-line basis over the lease term, while lease expense for finance leases is recognized as depreciation and interest expense using the effective interest method. The Company’s variable lease expense generally consists of property tax and insurance payments that are variable in nature, however, these amounts are immaterial to the consolidated financial statements and are therefore not separately reported.

The Company has lease agreements with both lease and nonlease components, which it elected to account for as a single lease component. However, the Company did not elect to apply the recognition exception for short-term leases. The Company is applying these elections to all asset classes.

The Company is a lessor of certain of its C&I mobile products as part of a rental fleet, as well as two of its buildings that it leases to third parties. The lease income related to these arrangements is not material to the consolidated financial statements.

The Company records its operating lease cost and amortization of finance lease ROU assets within cost of goods sold or operating expenses in the consolidated statements of comprehensive income depending on the cost center of the underlying asset. The Company records its finance lease interest cost within interest expense in the consolidated statements of comprehensive income.

The components of total lease cost consist of the following:

	Year Ended December 31, 2022		Year Ended December 31, 2021		Year Ended December 31, 2020

Operating lease cost	$	36,292	$	22,432	$	18,648
Finance lease cost:
Amortization of ROU assets		3,298		3,187		2,587
Interest on lease liabilities		1,945		2,021		2,237
Total lease cost	$	41,535	$	27,640	$	23,472

Supplemental balance sheet information related to the Company’s leases is as follows:

	December 31, 2022			December 31, 2021
Operating Leases
Operating lease ROU assets (1)	$	100,083		$	101,266

Operating lease liabilities - current (2)	$	30,330		$	23,549
Operating lease liabilities - noncurrent (3)		73,547			80,370
Total operating lease liabilities	$	103,877		$	103,919

Finance Leases
Finance lease ROU assets, gross	$	35,470		$	47,119
Accumulated depreciation - finance lease ROU assets		(10,751	)		(10,343	)
Finance lease ROU assets, net (4)	$	24,719		$	36,776

Finance lease liabilities - current (5)	$	2,650		$	4,209
Finance lease liabilities - noncurrent (6)		24,770			34,966
Total finance lease liabilities	$	27,420		$	39,175

(1)

Recorded in the operating lease and other assets line within the consolidated balance sheets

(2)

Recorded in the other accrued liabilities line within the consolidated balance sheets

(3)

Recorded in the operating lease and other long-term liabilities line within the consolidated balance sheets

(4)

Recorded in the property and equipment, net line within the consolidated balance sheets

(5)

Recorded in the current portion of long-term borrowings and finance lease obligations line within the consolidated balance sheets

(6)

Recorded in the long-term borrowings and finance lease obligations line within the consolidated balance sheets

Supplemental cash flow information related to the Company’s leases is as follows:

	Year Ended December 31, 2022		Year Ended December 31, 2021		Year Ended December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	36,020	$	21,250	$	18,412
Operating cash flows from finance leases		1,919		1,972		1,871
Financing cash flows from finance leases		4,931		4,679		3,957

ROU assets obtained in exchange for lease liabilities
Operating leases		28,766		55,057		41,678
Finance leases		2,874		4,026		3,737

Weighted average remaining lease term and discount rate information related to the Company’s leases as of December 31, 2022 and 2021 is as follows:

	December 31, 2022			December 31, 2021
Weighted average remaining lease term (in years)
Operating Leases		4.65			5.21
Finance Leases		11.26			11.94

Weighted average discount rate
Operating Leases		4.82	%		3.58	%
Finance Leases		7.58	%		7.43	%

The maturities of the Company’s lease liabilities as of December 31, 2022 are as follows:

	*Finance Leases*			*Operating Leases*
2023	$	4,487		$	34,208
2024		4,223			30,834
2025		3,639			20,386
2026		3,137			9,855
2027		2,929			8,334
After 2027		24,405			14,743
Total minimum lease payments		42,820			118,360
Interest component		(15,400	)		(14,483	)
Present value of minimum lease payments	$	27,420		$	103,877

Note 15 - Income Taxes - Reconciliation of Statutory and Effective Tax Rates (Details)

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

U.S. statutory rate

21.00%

State taxes

4.00%

4.30%

State tax rate differential

(0.30%)

0.00%

Research and development credits

(1.10%)

(1.00%)

(1.10%)

State credits

(1.50%)

(1.10%)

(1.50%)

Share-based compensation

^[1]

(2.70%)

(3.80%)

(1.00%)

Nondeductible U.S. compensation

1.60%

1.50%

0.00%

Foreign tax deduction

(0.40%)

(1.50%)

0.00%

Foreign deferred tax rate change

0.00%

1.20%

0.00%

Other

(1.00%)

(1.10%)

0.50%

Effective tax rate

19.60%

19.50%

22.20%

[1]	With the adoption of ASU 2016-09 in 2017, excess tax benefits from equity awards are reflected within the provision for income taxes rather than within the consolidated balance sheet.

Note 7 - Segment Reporting (Details Textual)
$ in Thousands

3 Months Ended

12 Months Ended

Sep. 30, 2022

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

Dec. 31, 2020

Number of Reportable Segments

Accounts Receivable, Credit Loss Expense (Reversal)

^[1]

$ 17,966

Standard Product Warranty Accrual, Warranty Provision

$ 37,338

37,338

Provision for Other Losses

$ 10,000

Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | UNITED STATES

Geographic Concentration Risk [Member] | Net Assets, Geographic Area [Member] | UNITED STATES

80.00%

82.00%

Clean Energy Product [Member]

77.00%

75.00%

Accounts Receivable, Credit Loss Expense (Reversal)

$ 17,926

[1]	Includes a specific credit loss provision of $17,926 recorded during the third quarter of 2022 for a clean energy product customer that filed for bankruptcy.

Note 6 - Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2022

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

	*Foreign Currency Translation Adjustments*				*Unrealized Gain (Loss) on Cash Flow Hedges*				*Total*

Beginning Balance – January 1, 2022	$	(52,704	)		$	(2,051	)		$	(54,755	)
Other comprehensive income (loss) before reclassifications		(48,841	)	(1)		38,494		(2)		(10,347	)
Amounts reclassified from AOCL		-				-				-
Net current-period other comprehensive income (loss)		(48,841	)			38,494				(10,347	)
Ending Balance – December 31, 2022	$	(101,545	)		$	36,443			$	(65,102	)

	Foreign Currency Translation Adjustments				Unrealized Gain (Loss) on Cash Flow Hedges				Total

Beginning Balance – January 1, 2021	$	(11,674	)		$	(22,580	)		$	(34,254	)
Other comprehensive income (loss) before reclassifications		(41,030	)	(3)		20,529		(4)		(20,501	)
Amounts reclassified from AOCL		-				-				-
Net current-period other comprehensive income (loss)		(41,030	)			20,529				(20,501	)
Ending Balance – December 31, 2021	$	(52,704	)		$	(2,051	)		$	(54,755	)

Note 11 - Product Warranty Obligations - Deferred Product Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current portion - accrued product warranty	$ 89,141	$ 59,052
Long-term portion - other long-term liabilities	48,870	35,161
Total	138,011	94,213	$ 59,218	$ 49,316
Current portion - other accrued liabilities	30,291	20,556
Long-term portion - other long-term liabilities	102,522	91,091
Total	$ 132,813	$ 111,647	$ 89,788	$ 78,738

Note 12 - Credit Agreements - Maturities of Long-term Borrowings Outstanding (Details) $ in Thousands	Dec. 31, 2022 USD ($)
2023	$ 10,083
2024	28,178
2025	46,931
2026	595,711
2027	690,032
After 2027	31
Total	1,370,966
Tranche A Term Loan Facility [Member]
2023	9,375
2024	28,125
2025	46,875
2026	65,625
2027	600,000
After 2027	0
Total	750,000
Tranche B Term Loan Facility [Member]
2023	0
2024	0
2025	0
2026	530,000
2027	0
After 2027	0
Total	530,000
ABL Revolving Credit Facility [Member]
2023	708
2024	53
2025	56
2026	86
2027	90,032
After 2027	31
Total	$ 90,966

Note 12 - Credit Agreements - Long-term Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Original issue discount and deferred financing costs	$ (16,568)	$ (13,214)
Total finance lease liabilities	27,420	39,175
Other	966	2,060
Total	1,381,818	908,021
Less: current portion of debt	10,083	1,721
Finance lease liabilities - current	2,650	4,209
Total	1,369,085	902,091
ABL Revolving Credit Facility [Member]
Line of credit	0	100,000
Revolving Credit Facility [Member]
Line of credit	90,000	0
Tranche A Term Loan Facility [Member]
Term Loan	750,000	0
Tranche B Term Loan Facility [Member]
Term Loan	$ 530,000	$ 780,000

Note 8 - Balance Sheet Details (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Inventory, Current [Table Text Block]

	*December 31,*
	*2022*		*2021*
Raw material	$	798,340	$	727,162
Work-in-process		14,899		10,756
Finished goods		592,145		351,787
Total	$	1,405,384	$	1,089,705

Property, Plant and Equipment [Table Text Block]

	*December 31,*
	*2022*			*2021*
Land and improvements	$	22,589		$	26,137
Buildings and improvements		243,553			244,273
Machinery and equipment		229,593			186,611
Dies and tools		37,343			31,581
Vehicles		9,807			7,621
Office equipment and systems		148,166			125,048
Leasehold improvements		6,849			5,679
Construction in progress		52,522			47,601
Gross property and equipment		750,422			674,551
Accumulated depreciation		(282,818	)		(233,699	)
Total	$	467,604		$	440,852

Note 10 - Leases - Supplement Balance Sheet Information Related to Leases (Details) - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Finance lease ROU assets, gross

$ 35,470

$ 47,119

Accumulated depreciation - finance lease ROU assets

(10,751)

(10,343)

Finance lease ROU assets, net

24,719

36,776

Finance lease liabilities - current

2,650

4,209

Total finance lease liabilities

27,420

39,175

Operating Lease and Other Assets [Member]

Operating lease ROU assets

^[1]

100,083

101,266

Other Accrued Liabilities [Member]

Operating lease liabilities - current

^[2]

30,330

23,549

Operating Lease and Other Long-term Liabilities [Member]

Operating lease liabilities - noncurrent

^[3]

73,547

80,370

Other Accrued Liabilities and Operating Lease and Other Long-term Liabilities [Member]

Total operating lease liabilities

103,877

103,919

Finance Lease and Other Assets [Member]

Finance lease ROU assets, net

^[4]

24,719

36,776

Current Portion of Long-term Borrowings and Finance Lease Obligations [Member]

Finance lease liabilities - current

^[5]

2,650

4,209

Finance Lease and Other Long-term Liabilities [Member]

Finance lease liabilities - noncurrent

^[6]

24,770

34,966

Other Accrued Liabilities and Finance Lease and Other Long-term Liabilities [Member]

Total finance lease liabilities

$ 27,420

$ 39,175

[1]	Recorded in the operating lease and other assets line within the consolidated balance sheets
[2]	Recorded in the other accrued liabilities line within the consolidated balance sheets
[3]	Recorded in the operating lease and other long-term liabilities line within the consolidated balance sheets
[4]	Recorded in the property and equipment, net line within the consolidated balance sheets
[5]	Recorded in the current portion of long-term borrowings and finance lease obligations line within the consolidated balance sheets
[6]	Recorded in the long-term borrowings and finance lease obligations line within the consolidated balance sheets

Note 10 - Leases - Supplement Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating cash flows from operating leases	$ 36,020	$ 21,250	$ 18,412
Operating cash flows from finance leases	1,919	1,972	1,871
Financing cash flows from finance leases	4,931	4,679	3,957
Operating leases	28,766	55,057	41,678
Finance leases	$ 2,874	$ 4,026	$ 3,737

Note 2 - Summary of Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

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

	*Year Ended December 31, 2022*
Balance at beginning of period	$	12,025
Established for acquisitions		498
Provision for credit losses (1)		17,966
Charge-offs		(2,554	)
Currency translation		(271	)
Balance at end of period	$	27,664

Property Plant and Equipment, Estimated Useful Lives [Table Text Block]

Land improvements	8	–	20
Buildings and improvements	10	–	40
Machinery and equipment	3	–	15
Dies and tools	3	–	10
Vehicles	3	–	6
Office equipment and systems	3	–	15
Leasehold improvements	2	–	20

Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]

Beginning balance, January 1, 2022	$	146,759
Changes in fair value		(231	)
Payment of contingent consideration (1)		(63,800	)
Present value interest accretion		1,974
Currency translation		(3,169	)
Ending balance, December 31, 2022	$	81,533

Note 11 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Revenue performance obligation	$ 132,813

Note 4 - Redeemable Noncontrolling Interest (Details Textual) - USD ($) $ in Thousands		1 Months Ended				12 Months Ended
	Feb. 01, 2019	May 31, 2022	Mar. 31, 2022	May 31, 2021	Feb. 28, 2019	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Mar. 01, 2016
Payments for Repurchase of Redeemable Noncontrolling Interest						$ 375	$ 27,164	$ (0)
Pramac [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners				20.00%					35.00%
Captiva Energy Solutions [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	49.00%					34.00%
Pramac [Member]
Business Acquisition, Percentage of Voting Interests Acquired				15.00%					65.00%
Redeemable Noncontrolling Interest, Equity, Fair Value, Total									$ 34,253
Noncontrolling Interest Agreement, Extension of Term (Year)				2 years	5 years
Payments for Repurchase of Redeemable Noncontrolling Interest				$ 27,164
Business Combination, Step Acquisition, Equity Interest in Acquiree, including Subsequent Acquisition, Percentage, Total				80.00%
Captiva Energy Solutions [Member]
Business Acquisition, Percentage of Voting Interests Acquired	51.00%		15.00%
Redeemable Noncontrolling Interest, Equity, Fair Value, Total	$ 3,165
Payments for Repurchase of Redeemable Noncontrolling Interest		$ 375	$ 461
Business Combination, Step Acquisition, Equity Interest in Acquiree, including Subsequent Acquisition, Percentage, Total		66.00%
Business Acquisition, Noncontrolling Interest, Term of Put Option (Year)	5 years
Business Acquisition, Term of Call Option (Year)	5 years

Note 5 - Derivative Instruments and Hedging Activities

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Text Block]

5.	Derivative Instruments and Hedging Activities

Commodities

The Company is exposed to price fluctuations in commodities including steel, copper and aluminum; and periodically utilizes commodity derivatives to mitigate the impact of these potential price fluctuations on its financial results. These derivatives typically have maturities of less than eighteen months. At December 31, 2022 and 2021, the Company had no commodity contracts outstanding.

Because these contracts do not qualify for hedge accounting, the related gains and losses are recorded in cost of goods sold in the Company’s consolidated statements of comprehensive income. Net pre-tax gains recognized were $29, $613, and $2,185 for the years ended December 31, 2022, 2021 and 2020, respectively.

Foreign Currencies

The Company is exposed to foreign currency exchange risk as a result of transactions denominated in currencies other than the U.S. Dollar. The Company periodically utilizes foreign currency forward purchase and sales contracts to manage the volatility associated with certain foreign currency purchases and sales in the normal course of business. Contracts typically have maturities of twelve months or less. As of December 31, 2022 and 2021, the Company had thirty-four and eleven foreign currency contracts outstanding, respectively.

Because these contracts do not qualify for hedge accounting, the related gains and losses are recorded in “other, net” in the Company’s consolidated statements of comprehensive income. Net pre-tax gains (losses) recognized for the years ended December 31, 2022, 2021 and 2020 were $579, $(416), and $355, respectively.

Interest Rate Swaps

In 2017, the Company entered into twenty interest rate swap agreements, four of which were still outstanding as of December 31, 2022. In March 2020, the Company entered into three additional interest rate swap agreements, bringing the total outstanding interest rate swaps to seven as of December 31, 2022.

In June 2022, in conjunction with the amendments to the Company's credit agreements discussed further in Note 12, “Credit Agreements,” to the consolidated financial statements, the Company amended its interest rate swaps to match the underlying debt and reconfirmed hedge effectiveness. 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 their gains or losses are reported as a component of accumulated other comprehensive loss (AOCL) in the consolidated balance sheets.

The amount of after-tax unrealized gains (losses) recognized for the years ended December 31, 2022, 2021 and 2020 were $38,494, $20,529, and $(14,285), 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 the Company’s derivatives:

	December 31, 2022		December 31, 2021
Foreign currency contracts	$	94	$	(36)
Interest rate swaps		49,279		(2,074	)

The fair values of the foreign currency contracts and interest rate swaps are included in prepaid expenses and other current assets and operating lease and other assets in the consolidated balance sheet as of December 31, 2022. The fair values of the foreign currency contracts and interest rate swaps are included in other accrued liabilities and other long-term liabilities in the consolidated balance sheet as of December 31, 2021. Excluding the impact of credit risk, the fair value of the derivative contracts as of December 31, 2022, is an asset of $51,184, which represents the net amount the Company would receive to exit all of the agreements on that date. Excluding the impact of credit risk, the fair value of the derivative contracts as of December 31, 2021, is a liability of $2,148, which represents the net amount the Company would pay to exit all of the agreements on that date.

Consolidated Statements of Cash Flows - USD ($)
$ in Thousands

12 Months Ended

89 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2022

Operating activities

Net income

$ 408,870

$ 556,569

$ 347,218

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation

52,821

42,155

36,493

Amortization of intangible assets

103,320

49,886

32,280

Amortization of original issue discount and deferred financing costs

3,234

2,589

2,598

Loss on extinguishment of debt

^[1]

3,743

831

Deferred income taxes

(95,465)

(2,096)

21,195

Share-based compensation expense

^[2]

29,481

23,954

20,882

Gain on disposal of assets

(592)

(4,393)

Other noncash charges

18,339

206

7,145

Net changes in operating assets and liabilities, net of acquisitions:

Accounts receivable

6,547

(131,861)

(55,976)

Inventories

(319,274)

(470,991)

(77,983)

Other assets

4,766

(819)

12,859

Accounts payable

(223,031)

297,323

66,040

Accrued wages and employee benefits

(27,369)

5,814

20,157

Other accrued liabilities

110,036

73,798

60,593

Excess tax benefits from equity awards

(16,910)

(31,809)

(6,968)

Net cash provided by operating activities

58,516

411,156

486,533

Investing activities

Proceeds from sale of property and equipment

2,077

259

179

Proceeds from sale of investment

1,308

4,968

Proceeds from beneficial interest in securitization transactions

3,566

4,609

2,651

Contribution to equity method investment

(14,930)

(3,660)

Expenditures for property and equipment

(86,188)

(109,992)

(62,128)

Purchase of long-term investment

(15,000)

Acquisition of businesses, net of cash acquired

(25,065)

(713,471)

(64,797)

Net cash used in investing activities

(134,232)

(817,287)

(124,095)

Financing activities

Proceeds from short-term borrowings

248,209

272,818

257,593

Proceeds from long-term borrowings

1,026,284

150,088

277

Repayments of short-term borrowings

(268,133)

(239,113)

(277,719)

Repayments of long-term borrowings and finance lease obligations

(542,191)

(108,556)

(4,758)

Stock repurchases

(345,840)

(125,992)

$ (777,379)

Payment of contingent acquisition consideration

(16,135)

(3,750)

(4,000)

Payment of debt issuance costs

(10,330)

(1,185)

Purchase of additional ownership interest

(375)

(27,164)

Cash dividends paid to noncontrolling interest of subsidiary

(309)

Taxes paid related to equity awards

(40,923)

(58,903)

(14,910)

Proceeds from the exercise of stock options

13,786

38,787

13,089

Net cash provided by (used in) financing activities

64,043

(102,970)

(30,428)

Effect of exchange rate changes on cash and cash equivalents

(2,943)

1,312

235

Net (decrease) increase in cash and cash equivalents

(14,616)

(507,789)

332,245

Cash and cash equivalents at beginning of period

147,339

655,128

322,883

Cash and cash equivalents at end of period

132,723

147,339

655,128

$ 132,723

Supplemental disclosure of cash flow information

Interest

48,912

27,842

28,765

Income taxes

$ 150,893

$ 156,728

$ 61,861

[1]	Represents the non-cash write-off of original issue discount and deferred financing costs due primarily to a voluntary prepayment of debt.
[2]	Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods.

Note 10 - Leases (Tables)

12 Months Ended

Dec. 31, 2022

Lease, Cost [Table Text Block]

	Year Ended December 31, 2022		Year Ended December 31, 2021		Year Ended December 31, 2020

Operating lease cost	$	36,292	$	22,432	$	18,648
Finance lease cost:
Amortization of ROU assets		3,298		3,187		2,587
Interest on lease liabilities		1,945		2,021		2,237
Total lease cost	$	41,535	$	27,640	$	23,472

Schedule of Components of Lease Assets and Liabilities [Table Text Block]

	December 31, 2022			December 31, 2021
Operating Leases
Operating lease ROU assets (1)	$	100,083		$	101,266

Operating lease liabilities - current (2)	$	30,330		$	23,549
Operating lease liabilities - noncurrent (3)		73,547			80,370
Total operating lease liabilities	$	103,877		$	103,919

Finance Leases
Finance lease ROU assets, gross	$	35,470		$	47,119
Accumulated depreciation - finance lease ROU assets		(10,751	)		(10,343	)
Finance lease ROU assets, net (4)	$	24,719		$	36,776

Finance lease liabilities - current (5)	$	2,650		$	4,209
Finance lease liabilities - noncurrent (6)		24,770			34,966
Total finance lease liabilities	$	27,420		$	39,175

Schedule of Leases Cash Flow Information [Table Text Block]

	Year Ended December 31, 2022		Year Ended December 31, 2021		Year Ended December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	36,020	$	21,250	$	18,412
Operating cash flows from finance leases		1,919		1,972		1,871
Financing cash flows from finance leases		4,931		4,679		3,957

ROU assets obtained in exchange for lease liabilities
Operating leases		28,766		55,057		41,678
Finance leases		2,874		4,026		3,737

Lease, Term and Discount Rate [Table Text Block]

	December 31, 2022			December 31, 2021
Weighted average remaining lease term (in years)
Operating Leases		4.65			5.21
Finance Leases		11.26			11.94

Weighted average discount rate
Operating Leases		4.82	%		3.58	%
Finance Leases		7.58	%		7.43	%

Operating and Finance Lease, Liability, Maturity [Table Text Block]

	*Finance Leases*			*Operating Leases*
2023	$	4,487		$	34,208
2024		4,223			30,834
2025		3,639			20,386
2026		3,137			9,855
2027		2,929			8,334
After 2027		24,405			14,743
Total minimum lease payments		42,820			118,360
Interest component		(15,400	)		(14,483	)
Present value of minimum lease payments	$	27,420		$	103,877

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accounts receivable, allowance for doubtful accounts	$ 27,664	$ 12,025
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	72,701,257	72,386,017
Treasury stock, shares (in shares)	11,284,350	8,667,031

Note 18 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	Aug. 01, 2022	Dec. 31, 2022	Oct. 07, 2022	Dec. 31, 2021
Amount Financed by Dealers		$ 212,200		$ 115,900
Accounts Receivable, before Allowance for Credit Loss		$ 550,122
Power Home Solar, LLC [Member] \| Collectibility of Receivables [Member]
Accounts Receivable, before Allowance for Credit Loss			$ 17,700
Power Home Solar, LLC Against Generac Power Systems, Inc. [Member] \| Minimum [Member]
Loss Contingency, Damages Sought, Value	$ 25,000

Note 15 - Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Text Block]

15.

Income Taxes

The Company’s provision for income taxes consists of the following:

	*Year Ended December 31,*
	*2022*			*2021*			*2020*
Current:
Federal	$	118,320		$	105,236		$	62,714
State		25,743			21,295			13,071
Foreign		51,055			10,536			1,974
		195,118			137,067			77,759
Deferred:
Federal		(43,475	)		10,518			20,452
State		(10,966	)		(3,728	)		1,243
Foreign		(40,109	)		(7,863	)		(1,197	)
		(94,550	)		(1,073	)		20,498
Change in valuation allowance		(972	)		(1,037	)		716
Provision for income taxes	$	99,596		$	134,957		$	98,973

The Company files U.S. federal, U.S. state and foreign jurisdiction tax returns which are subject to examination up to the expiration of the statute of limitations. The Company believes the tax positions taken on its returns would be sustained upon an exam, or where a position is uncertain, adequate reserves have been recorded. As of December 31, 2022, the Company is no longer subject to income tax examinations for United States federal income taxes for tax years prior to 2019. Due to the carryforward of net operating losses and research & development credits, the Company’s Wisconsin state income tax returns for tax years 2008 through 2021 remain open. In addition, the Company is subject to audit by various foreign taxing jurisdictions for tax years 2011 through 2022.

The Company is regularly under tax return examination by tax authorities in the various jurisdictions in which we operate. The Company is actively managing the examinations and working to address any open matters. While the Company does not believe any material taxes or penalties are due, there is a possibility that the ultimate tax outcome of an examination may result in differences from what was recorded. Such differences may affect the provision for income taxes in the period in which the determination is made and could impact the Company’s financial results.

Significant components of deferred tax assets and liabilities are as follows:

	*December 31,*
	*2022*			*2021*
Deferred tax assets:
Accrued expenses	$	46,994		$	37,797
Deferred revenue		34,914			27,003
Inventories		20,229			14,907
Stock-based compensation		11,750			10,202
Operating loss and credit carryforwards		56,279			68,368
Bad debt		1,415			1,253
Other		7,531			12,203
Capitalized R&D		33,738			-
Valuation allowance		(4,638	)		(7,874	)
Total deferred tax assets		208,212			163,859

Deferred tax liabilities:
Goodwill and intangible assets		260,745			328,162
Depreciation		44,385			21,340
Debt refinancing costs		1,184			2,916
Interest swap and derivative		12,370			-
Prepaid expenses		2,473			1,664
Total deferred tax liabilities		321,157			354,082

Net deferred tax liabilities	$	(112,945)		$	(190,223	)

As of December 31, 2022 and 2021, deferred tax assets of $12,746 and $15,740, and deferred tax liabilities of $125,691 and $205,964, respectively, were reflected on the consolidated balance sheets.

The Company maintains a valuation allowance against the deferred tax assets when it is uncertain it will generate sufficient taxable income to utilize the asset. During 2022, the valuation allowance decreased by $3,236 primarily due to a reversal of valuation allowance in certain jurisdictions where we believe the deferred tax assets can now be utilized, partially offset by the establishment of valuation allowances in certain jurisdictions where we believe the deferred tax assets cannot be used.

At December 31, 2022, the Company had tax loss carryforwards of approximately $238,371, which have varying expiration periods ranging from 2023 to indefinite. For carryforward amounts where the Company believes the losses will expire prior to use, a valuation allowance has been established. For all other carryforwards the Company believes it will generate sufficient taxable income in these jurisdictions to utilize its loss carryforwards.

At December 31, 2022, the Company had state manufacturing tax credit carryforwards of approximately $29,946, which expire between 2028 and 2037. The Company believes it will generate sufficient taxable income in these jurisdictions to fully utilize the credits prior to their expiration.

Changes in the Company’s gross liability for unrecognized tax benefits, excluding interest and penalties, were as follows:

	*December 31,*
	*2022*			*2021*
Unrecognized tax benefit, beginning of period	$	8,647		$	7,613
Increase in unrecognized tax benefit for positions taken in prior period		97			272
Increase in unrecognized tax benefit for positions taken in current period		975			990
Statute of limitation expirations		(824	)		(228	)
Settlements		-			-
Unrecognized tax benefit, end of period	$	8,895		$	8,647

The unrecognized tax benefit as of December 31, 2022 and 2021, if recognized, would favorably impact the effective tax rate.

As of December 31, 2022 and 2021, total accrued interest of approximately $161 and $127, respectively, and accrued penalties of approximately $422 and $357, respectively, associated with net unrecognized tax benefits are included in the consolidated balance sheets. Interest and penalties are recorded as a component of income tax expense.

The Company does not expect a significant increase or decrease to the total amounts of unrecognized tax benefits related to continuing operations during the following fiscal year ending December 31, 2023.

A reconciliation of the statutory tax rates to the effective tax rates for the years ended December 31, 2022, 2021 and 2020 are as follows:

	*Year Ended December 31,*
	*2022*			*2021*			*2020*
U.S. statutory rate		21.0	%		21.0	%		21.0	%
State taxes		4.0			4.3			4.3
State tax rate differential		(0.3	)		0.0			0.0
Research and development credits		(1.1	)		(1.0	)		(1.1	)
State credits		(1.5	)		(1.1	)		(1.5	)
Share-based compensation		(2.7	)		(3.8	)		(1.0	)
Nondeductible U.S. compensation		1.6			1.5			0.0
Foreign tax deduction		(0.4	)		(1.5	)		0.0
Foreign deferred tax rate change		0.0			1.2			0.0
Other		(1.0	)		(1.1	)		0.5
Effective tax rate		19.6	%		19.5	%		22.2	%

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 270
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-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
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-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 235
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Note 15 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	*Year Ended December 31,*
	*2022*			*2021*			*2020*
Current:
Federal	$	118,320		$	105,236		$	62,714
State		25,743			21,295			13,071
Foreign		51,055			10,536			1,974
		195,118			137,067			77,759
Deferred:
Federal		(43,475	)		10,518			20,452
State		(10,966	)		(3,728	)		1,243
Foreign		(40,109	)		(7,863	)		(1,197	)
		(94,550	)		(1,073	)		20,498
Change in valuation allowance		(972	)		(1,037	)		716
Provision for income taxes	$	99,596		$	134,957		$	98,973

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	*December 31,*
	*2022*			*2021*
Deferred tax assets:
Accrued expenses	$	46,994		$	37,797
Deferred revenue		34,914			27,003
Inventories		20,229			14,907
Stock-based compensation		11,750			10,202
Operating loss and credit carryforwards		56,279			68,368
Bad debt		1,415			1,253
Other		7,531			12,203
Capitalized R&D		33,738			-
Valuation allowance		(4,638	)		(7,874	)
Total deferred tax assets		208,212			163,859

Deferred tax liabilities:
Goodwill and intangible assets		260,745			328,162
Depreciation		44,385			21,340
Debt refinancing costs		1,184			2,916
Interest swap and derivative		12,370			-
Prepaid expenses		2,473			1,664
Total deferred tax liabilities		321,157			354,082

Net deferred tax liabilities	$	(112,945)		$	(190,223	)

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	*December 31,*
	*2022*			*2021*
Unrecognized tax benefit, beginning of period	$	8,647		$	7,613
Increase in unrecognized tax benefit for positions taken in prior period		97			272
Increase in unrecognized tax benefit for positions taken in current period		975			990
Statute of limitation expirations		(824	)		(228	)
Settlements		-			-
Unrecognized tax benefit, end of period	$	8,895		$	8,647

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	*Year Ended December 31,*
	*2022*			*2021*			*2020*
U.S. statutory rate		21.0	%		21.0	%		21.0	%
State taxes		4.0			4.3			4.3
State tax rate differential		(0.3	)		0.0			0.0
Research and development credits		(1.1	)		(1.0	)		(1.1	)
State credits		(1.5	)		(1.1	)		(1.5	)
Share-based compensation		(2.7	)		(3.8	)		(1.0	)
Nondeductible U.S. compensation		1.6			1.5			0.0
Foreign tax deduction		(0.4	)		(1.5	)		0.0
Foreign deferred tax rate change		0.0			1.2			0.0
Other		(1.0	)		(1.1	)		0.5
Effective tax rate		19.6	%		19.5	%		22.2	%

Note 2 - Summary of Accounting Policies

12 Months Ended

Dec. 31, 2022

Significant Accounting Policies [Text Block]

2.	Summary of Accounting Policies

Principles of Consolidation

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

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Concentration of Credit Risk

The Company maintains the majority of its domestic cash in a few commercial banks in multiple operating and investment accounts. Balances on deposit are insured by the Federal Deposit Insurance Corporation (FDIC) up to specified limits. Balances in excess of FDIC limits are uninsured.

One customer accounted for approximately 11% and 8% of accounts receivable at December 31, 2022 and 2021, respectively. No one customer accounted for greater than 4%, 6%, and 6%, of net sales during the years ended December 31, 2022, 2021, and 2020, respectively.

Accounts Receivable and Allowance for Credit Losses

The Company's trade and other receivables primarily arise from the sale of its products and services 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, utilities, EPC companies, and certain end users with payment terms generally ranging from 30 to 90 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, credit bureau information, and regional considerations.

Receivables are recorded at their face value amount less an allowance for credit losses. 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 based on current market conditions. 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 various credit insurance plans that cover the risk of loss up to specified amounts on certain trade receivables. As of December 31, 2022, the Company had gross receivables of $550,122 and an allowance for credit losses of $27,664.

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

Year Ended December 31, 2022

Balance at beginning of period
$ 12,025

Established for acquisitions
498

Provision for credit losses (1)
17,966

Charge-offs
(2,554 )

Currency translation
(271 )

Balance at end of period
$ 27,664

(1) Includes a specific credit loss provision of $17,926 recorded during the third quarter of 2022 for a clean energy product customer that filed for bankruptcy.

Inventories

Inventories are stated at the lower of cost or market, with cost determined using the first-in, first-out method.

Property and Equipment

Property and equipment are recorded at cost and are being depreciated using the straight-line method over the estimated useful lives of the assets, which are summarized below (in years). Costs of leasehold improvements are amortized over the lesser of the term of the lease (including renewal option periods) or the estimated useful lives of the improvements. Finance lease right of use assets are included in property and equipment. Refer to Note 10, “Leases,” to the consolidated financial statements for the Company's lease disclosure.

Land improvements
8 – 20

Buildings and improvements
10 – 40

Machinery and equipment
3 – 15

Dies and tools
3 – 10

Vehicles
3 – 6

Office equipment and systems
3 – 15

Leasehold improvements
2 – 20

Total depreciation expense was $52,821, $42,155, and $36,493 for the years ended December 31, 2022, 2021 and 2020, respectively.

Goodwill and Other Indefinite-Lived Intangible Assets

Goodwill represents the excess of the purchase price over fair value of identifiable net assets acquired from business acquisitions. Goodwill is not amortized, but is reviewed for impairment on an annual basis and between annual tests if indicators of impairment are present. The Company evaluates goodwill for impairment annually as of October 31 or more frequently when an event occurs or circumstances change that indicates the carrying value may not be recoverable. The Company has the option to assess goodwill for impairment by performing either a qualitative assessment or quantitative test. The qualitative assessment determines whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then the quantitative test is not required to be performed. If the Company determines that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company is required to perform the quantitative test. In the quantitative test, the calculated fair value of the reporting unit is compared to its book value including goodwill. If the fair value of the reporting unit is in excess of its book value, the related goodwill is not impaired. If the fair value of the reporting unit is less than its book value, an impairment loss is recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit.

Other indefinite-lived intangible assets consist of certain tradenames. The Company tests the carrying value of these tradenames annually as of October 31, or more frequently when an event occurs or circumstances change that indicates the carrying value may not be recoverable, by comparing the assets’ fair value to its carrying value. Fair value is measured using a relief-from-royalty approach, which assumes the fair value of the tradename is the discounted cash flows of the amount that would be paid had the Company not owned the tradename and instead licensed the tradename from another company.

The Company performed the required annual impairment tests for goodwill and other indefinite-lived intangible assets for the fiscal years 2022, 2021 and 2020, and found no impairment.

Impairment of Long-Lived Assets

The Company periodically evaluates the carrying value of long-lived assets (excluding goodwill and indefinite-lived tradenames). Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the sum of the expected future undiscounted cash flows is less than the carrying amount of an asset, a loss is recognized for the difference between the fair value and carrying value of the asset.

Debt Issuance Costs

Debt discounts and direct costs incurred in connection with the issuance or amendment of long-term debt are deferred and recorded as a reduction of outstanding debt and amortized to interest expense using the effective interest method over the terms of the related credit agreements. $3,234, $2,589, and $2,598, of deferred financing costs and original issue discount were amortized to interest expense during fiscal years 2022, 2021 and 2020, respectively. Excluding the impact of any future long-term debt issuances or prepayments, estimated amortization to interest expense for the next five years is as follows: 2023 - $3,885; 2024 - $3,923; 2025 - $3,919; 2026 - $3,819; 2027 - $1,028.

Income Taxes

The Company is a C Corporation and therefore accounts for income taxes pursuant to the liability method. Accordingly, the current or deferred tax consequences of a transaction are measured by applying the provision of enacted tax laws to determine the amount of taxes payable currently or in future years. Deferred income taxes are provided for temporary differences between the income tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the years in which those temporary differences become deductible. The Company considers taxable income in prior carryback years, the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies, as appropriate, in making this assessment.

Revenue Recognition

The Company’s revenues primarily consist of product sales to its customers. The Company considers the purchase orders, which in some cases are governed by master sales agreements, to be the contracts with the customers. For each contract, the Company considers the commitment to transfer products, each of which is distinct, to be the identified performance obligations. Revenue is measured as the amount of consideration the Company expects to be entitled in exchange for the transfer of product, which is generally the price stated in the contract specific for each item sold, adjusted for the value of expected returns, discounts, rebates, or other promotional incentives or allowances offered to our customers. Expected returns for damaged or defective product are estimated using the expected value method based on historical product return experience. Discounts and rebates offered to customers are typically defined in the master sales agreements with customers and, therefore, are recorded using the most likely amount method based on the terms of the contract. Promotional incentives are defined programs offered for short, specific periods of time and are estimated using the expected value method based on historical experience. The Company does not expect the transaction price for revenue recognized will be subject to a significant revenue reversal. As the Company’s product sale contracts and standard payment terms have a duration of less than one year, it uses the practical expedient applicable to such contracts and does not consider the time value of money. Sales, use, value add, and other similar taxes assessed by governmental authorities and collected concurrent with revenue-producing activities are excluded from revenue. The Company has elected to recognize the cost for freight activities when control of the product has transferred to the customer as an expense within cost of goods sold in the consolidated statements of comprehensive income. Product revenues are recognized at the point in time when control of the product is transferred to the customer, which typically occurs upon shipment or delivery to the customer. To determine when control has transferred, the Company considers if there is a present right to payment and if legal title, physical possession, and the significant risks and rewards of ownership of the asset has transferred to the customer. As a substantial portion of the Company’s product revenues are recognized at a point in time, the amount of unsatisfied performance obligations at each period end is not material. The Company’s contracts have an original expected duration of one year or less. As a result, the Company has elected to use the practical expedient to not disclose its remaining performance obligations.

At the request of certain customers, the Company will warehouse inventory billed to the customer but not delivered. Unless all revenue recognition criteria have been met, the Company does not recognize revenue on these transactions until the customer takes possession of the product.

While the Company’s standard payment terms are less than one year, the specific payment terms and conditions in its customer contracts vary. In some cases, customers prepay for their goods; in other cases, after appropriate credit evaluation, an open credit line is granted and payment is due in arrears. Contracts with payment in arrears are recognized in the consolidated balance sheets as accounts receivable upon revenue recognition, while contracts where customers pay in advance are recognized as customer deposits and recorded in other accrued liabilities in the consolidated balance sheets until revenue is recognized. The balance of customer deposits (contract liabilities) was $33,551 and $27,388 at December 31, 2022 and December 31, 2021, respectively. During the year ended December 31, 2022, the Company recognized revenue of $27,388 related to amounts included in the December 31, 2021 customer deposit balance. The Company typically recognizes revenue within one year of the receipt of the customer deposit.

The Company offers standard warranty coverage on substantially all products that it sells and accounts for this standard warranty coverage as an assurance warranty. As such, no transaction price is allocated to the standard warranty, and the Company records a liability for product warranty obligations at the time of sale to a customer based on historical warranty experience. Refer to Note 11, “Product Warranty Obligations,” to the consolidated financial statements for further information regarding the Company’s standard warranties.

The Company also sells extended warranty coverage for certain products, which it accounts for as service warranties. In most cases, the extended warranty is sold as a separate contract. As such, extended warranty sales are considered a separate performance obligation, and the extended warranty transaction is separate and distinct from the product. The extended warranty transaction price is initially recorded as deferred revenue in the consolidated balance sheets and amortized on a straight-line basis to net sales in the consolidated statements of comprehensive income over the life of the contracts following the standard warranty period. For extended warranty contracts that the Company sells under a third-party marketing agreement, it is required to pay fees to the third-party service provider and classifies these fees as costs to obtain a contract. The contract costs are deferred and recorded as other assets in the consolidated balance sheets. The deferred contract costs are amortized to net sales in the consolidated statements of comprehensive income consistent with how the related deferred revenue is recognized. Refer to Note 11, “Product Warranty Obligations,” to the consolidated financial statements for further information regarding the Company’s extended warranties.

In addition to extended warranties, the Company offers other services, including remote monitoring, installation, maintenance, data center and telecom design and build, and grid services to utilities in certain circumstances. Total service revenues accounted for less than 3% of revenue during the year ended December 31, 2022.

Refer to Note 7, “Segment Reporting,” to the consolidated financial statements for the Company’s disaggregated revenue disclosure. The information discussed above is applicable to each of the Company’s product classes.

Advertising and Co-Op Advertising

Expenditures for advertising, included in selling and service expenses in the consolidated statements of comprehensive income, are expensed as incurred. Expenditures for advertising production costs are expensed when the related advertisement is first run. Expenditures for Co-Op advertising are expensed when claimed by the customer. Total expenditures for advertising were $100,589, $66,660, and $53,678 for the years ended December 31, 2022, 2021 and 2020, respectively.

Research and Development

The Company expenses research and development costs as incurred. Total expenditures incurred for research and development were $159,774, $104,303, and $80,251 for the years ended December 31, 2022, 2021 and 2020, respectively.

Foreign Currency Translation and Transactions

Balance sheet amounts for non-U.S. Dollar functional currency subsidiaries are translated into U.S. Dollars at the rates of exchange in effect at the end of the fiscal year. Income and expenses incurred in a foreign currency are translated at the average rates of exchange in effect during the year. The related balance sheet translation adjustments are made directly to accumulated other comprehensive loss, a component of stockholders’ equity, in the consolidated balance sheets. Gains and losses from foreign currency transactions are recognized as incurred in the consolidated statements of comprehensive income.

Fair Value of Financial Instruments

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 the 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 revolving facility borrowings), excluding Term Loan borrowings, approximates the fair value of these instruments based on their short-term nature. The fair value of the Term Loan B borrowing, which has a net carrying value of $523,305, was approximately $516,750 (Level 2) at December 31, 2022, as calculated based on independent valuations whose inputs and significant value drivers are observable. The fair value of Term Loan A approximates the carrying value.

For the fair value of the assets and liabilities measured on a recurring basis, refer to the fair value table in Note 5, “Derivative Instruments and Hedging Activities,” to the 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 considers the Company’s credit risk in accordance with ASC 820-10.

Contingent Consideration

Certain of the Company's business combinations involve potential payment of future consideration that is contingent upon the achievement of certain milestones. As part of purchase accounting, a liability is recorded for the estimated fair value of the contingent consideration on the acquisition date. The fair value of the contingent consideration is remeasured at each reporting period, and the change in fair value is recognized within general and administrative expenses in the Company's consolidated statements of comprehensive income. The fair value measurement of contingent consideration is typically categorized as a Level 3 liability, as the measurement amount is based primarily on significant inputs that are not observable in the market. The fair value measurement of ecobee's contingent consideration is categorized as a Level 1 liability, as a definitive payout agreement has been reached.

The fair value of contingent consideration as of December 31, 2022 and December 31, 2021 was $81,533 and $146,759, respectively. At December 31, 2022, the Company recorded $49,500 in other accrued liabilities and $32,033 in other long-term liabilities in the consolidated balance sheets. At December 31, 2021, the Company recorded $68,665 in other accrued liabilities and $78,094 in other long-term liabilities in the consolidated balance sheets.

The following table provides a reconciliation of the activity for contingent consideration:

Beginning balance, January 1, 2022
$ 146,759

Changes in fair value
(231 )

Payment of contingent consideration (1)
(63,800 )

Present value interest accretion
1,974

Currency translation
(3,169 )

Ending balance, December 31, 2022
$ 81,533

(1) Includes payments of $16,135 in cash for the Off Grid acquisition, $47,123 in shares of common stock for the ecobee acquisition, and $542 in cash for the ecobee acquisition. The payment of common stock is accounted for as a non-cash item in the consolidated statement of cash flows.

Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. 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 consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

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 in the 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.

Share-Based Compensation

Share-based compensation expense, including stock options and restricted stock awards, is generally recognized on a straight-line basis over the vesting period based on the fair value of awards which are expected to vest. The fair value of all share-based awards is estimated on the date of grant. Refer to Note 17, “Share Plans,” to the consolidated financial statements for further information on the Company’s share-based compensation plans and accounting.

Acquisition related costs

Acquisition related costs are external costs the Company incurs to affect a business combination including legal fees, professional and advisory services, transaction taxes such as stamp tax, and insurance premiums. The Company accounts for acquisition related costs as expense in the period in which the costs are incurred and the services are received. Total acquisition related costs were $1,459, $21,465, and $1,411 for the years ended December 31, 2022, 2021 and 2020, respectively.

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 October 1, 2022, the Company elected to early adopt ASU 2022-04, Liabilities – Supplier Finance Program: Disclosure of Supplier Finance Program Obligations. This guidance was issued to enhance the transparency of supplier finance programs. The amendments in this update require that a buyer in a supplier finance program disclose sufficient information about the program to allow a user of financial statements to understand the program's nature, activity during the period, changes from period to period, and potential magnitude. The Company has one supplier finance program; however, the program magnitude is not material to the Company.

Note 3 - Acquisitions - The Combined Fair Value of the Consideration Transferred for These Acquisitions (Details) - USD ($)
$ in Thousands

Dec. 01, 2021

Jul. 02, 2021

Acquisition of Chilicon [Member]

Cash paid at closing

$ 11,821

Deferred cash payment (1)

^[1]

6,000

Common stock issued at closing

12,000

Contingent consideration (2)

^[2]

31,308

Total purchase price

$ 61,129

ecobee Inc. [Member]

Cash paid at closing

$ 225,403

Common stock issued at closing

420,774

Contingent consideration (2)

^[3]

89,400

Total purchase price

$ 735,577

[1]	Payable on the third business day after December 31, 2023.
[2]	Payable in common stock issued upon achievement of certain performance targets within 45 calendar days following the conclusion of the earnout period, December 31, 2025.
[3]	To be paid in the form of common stock issued upon achievement of certain performance targets following the end of two earnout periods, one ended June 30, 2022, and one originally ending June 30, 2023.

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2022	Feb. 17, 2023	Jun. 30, 2022
Document Information [Line Items]
Entity Central Index Key	0001474735
Entity Registrant Name	GENERAC HOLDINGS INC.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	001-34627
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-5654756
Entity Address, Address Line One	S45 W29290 Hwy 59
Entity Address, City or Town	Waukesha
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53189
City Area Code	262
Local Phone Number	544-4811
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	GNRC
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 13,014,830,988
Entity Common Stock, Shares Outstanding		61,887,460
Auditor Name	Deloitte & Touche LLP
Auditor Firm ID	34
Auditor Location	Milwaukee, Wisconsin

Note 5 - Derivative Instruments and Hedging Activities (Details Textual) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2017
Derivative, Gain (Loss) on Derivative, Net, Total		$ 579	$ (416)	$ 355
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Total		38,494	20,529	(14,285)
Derivative Assets (Liabilities), Net Fair Value of Derivative Contracts, Excluding Impact of Credit Risk		$ 51,184	$ (2,148)
Commodity Contract [Member]
Derivative, Number of Instruments Held, Total		0	0
Commodity Contract [Member] \| Not Designated as Hedging Instrument [Member] \| Cost of Sales [Member]
Derivative, Gain (Loss) on Derivative, Net, Total		$ 29	$ 613	2,185
Foreign Exchange Contract [Member]
Derivative, Number of Instruments Held, Total		34	11
Interest Rate Swap [Member]
Number of New Contracts Entered	3	7			20
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Total		$ 38,494	$ 20,529	$ (14,285)

Note 19 - Quarterly Financial Information (Unaudited) - Unaudited Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net sales	$ 1,049,232	$ 1,088,258	$ 1,291,391	$ 1,135,856	$ 1,067,071	$ 942,698	$ 919,981	$ 807,434	$ 4,564,737	$ 3,737,184	$ 2,485,200
Gross profit	343,167	361,104	456,985	360,748	362,539	335,994	339,735	321,814	1,522,004	1,360,082	957,654
Operating income	107,228	87,523	216,844	154,735	175,481	173,579	182,952	189,124	566,330	721,136	479,106
Net income attributable to Generac Holdings Inc.	$ 71,015	$ 58,270	$ 156,359	$ 113,858	$ 142,895	$ 131,570	$ 127,036	$ 148,993	$ 399,502	$ 550,494	$ 350,576
Net income attributable to common shareholders per common share - basic: (in dollars per share)	$ 0.84	$ 0.84	$ 2.24	$ 1.61	$ 2.09	$ 1.98	$ 2.06	$ 2.39	$ 5.55	$ 8.51	$ 5.61
Net income attributable to common shareholders per common share - diluted: (in dollars per share)	$ 0.83	$ 0.83	$ 2.21	$ 1.57	$ 2.04	$ 1.93	$ 2.01	$ 2.33	$ 5.42	$ 8.30	$ 5.48

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

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Treasury Stock [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Excess Purchase Price over Predecessor Basis [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] AOCI Attributable to Parent [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Parent [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Noncontrolling Interest [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Excess Purchase Price over Predecessor Basis [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2019										71,667,726		(9,103,013)
Balance at Dec. 31, 2019	$ 0	$ 0	$ 0	$ 0	$ (1,147)	$ 0	$ (1,147)	$ 0	$ (1,147)	$ 717	$ 498,866	$ (324,551)	$ (202,116)	$ 1,084,383	$ (24,917)	$ 1,032,382	$ 469	$ 1,032,851
Net unrealized gain (loss) on derivatives										$ 0	0	$ 0	0	0	(14,285)	(14,285)	0	(14,285)
Foreign currency translation adjustment															4,948	4,948	(29)	4,919
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)										356,603
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price										$ 4	5,793					5,797		5,797
Net share settlement of restricted stock awards (in shares)												(70,718)
Net share settlement of restricted stock awards												$ (7,613)				(7,613)		(7,613)
Share-based compensation										0	20,882	0	0	0	0	20,882	0	20,882
Redemption value adjustment										0	0	0	0	(1,247)	0	(1,247)	0	(1,247)
Net income attributable to Generac Holdings Inc.										$ 0	0	$ 0	0	350,576	0	350,576		350,576
Net income																	(529)
Net income																		350,047
Balance (in shares) at Dec. 31, 2020										72,024,329		(9,173,731)
Balance at Dec. 31, 2020										$ 721	525,541	$ (332,164)	(202,116)	1,432,565	(34,254)	1,390,293	(89)	1,390,204
Net unrealized gain (loss) on derivatives															20,529	20,529		20,529
Foreign currency translation adjustment										$ 0	0	$ 0	0	0	(41,030)	(41,030)	(3)	(41,033)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)										331,048		0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price										$ 3	7,073	$ 0	0	0	0	7,076	0	7,076
Net share settlement of restricted stock awards (in shares)										0		(80,583)
Net share settlement of restricted stock awards										$ 0	0	$ (27,223)	0	0	0	(27,223)	0	(27,223)
Share-based compensation										0	23,954	0	0	0	0	23,954	0	23,954
Redemption value adjustment										0	0	0	0	(17,102)	0	(17,102)	0	(17,102)
Net income attributable to Generac Holdings Inc.										0	0	0	0	550,494	0	550,494		550,494
Net income																	501
Net income																		550,995
Change in noncontrolling interest share										$ 0	0	$ 0	0	0	0	0	(96)	(96)
Common stock issued for business combination (in shares)										30,640
Common stock issued for business combination										$ 1	12,000					12,001		12,001
Treasury stock issued for business combination (in shares)										0		937,283
Treasury stock issued for business combination										$ 0	384,371	$ 36,403	0	0	0	420,774	0	420,774
Stock repurchases (in shares)										0		(350,000)
Stock repurchases										$ 0	0	$ (125,992)	0	0	0	(125,992)	0	(125,992)
Balance (in shares) at Dec. 31, 2021										72,386,017		(8,667,031)
Balance at Dec. 31, 2021										$ 725	952,939	$ (448,976)	(202,116)	1,965,957	(54,755)	2,213,774	313	2,214,087
Net unrealized gain (loss) on derivatives										0	0	0	0	0	38,494	38,494	0	38,494
Foreign currency translation adjustment										$ 0	0	$ 0	0	0	(48,841)	(48,841)	(264)	(49,105)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)										315,240		0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price										$ 3	(247)	$ 0	0	0	0	(244)	0	(244)
Net share settlement of restricted stock awards (in shares)										0		(91,843)
Net share settlement of restricted stock awards										$ 0	0	$ (26,833)	0	0	0	(26,833)	0	(26,833)
Share-based compensation										0	29,481	0	0	0	0	29,481	0	29,481
Redemption value adjustment										0	0	0	0	(49,235)	0	(49,235)	0	(49,235)
Net income attributable to Generac Holdings Inc.										$ 0	0	$ 0	0	399,502	0	399,502		399,502
Net income																	1,825
Net income																		$ 401,327
Stock repurchases (in shares)										0		(2,722,007)						(2,722,007)
Stock repurchases										$ 0	0	$ (345,840)	0	0	0	(345,840)	0	$ (345,840)
Payment of acquisition contingent consideration (in shares)										0		196,531
Payment of acquisition contingent consideration										$ 0	33,965	$ 13,158	0	0	0	47,123	0	47,123
Balance (in shares) at Dec. 31, 2022										72,701,257		(11,284,350)
Balance at Dec. 31, 2022										$ 728	$ 1,016,138	$ (808,491)	$ (202,116)	$ 2,316,224	$ (65,102)	$ 2,257,381	$ 1,874	$ 2,259,255

Note 20 - Valuation and Qualifying Accounts (Tables)

12 Months Ended

Dec. 31, 2022

Valuation and Qualifying Accounts [Table Text Block]

	*Balance at Beginning of Year*		*Additions Charged to Earnings*		*Additions Charged to Retained Earnings (1)*		*Charges to Reserve, Net (2)*			*Reserves Established for Acquisitions*			*Balance at End of Year*
Year ended December 31, 2022
Allowance for credit losses	$	12,025	$	17,966	$	-	$	(2,825	)	$	498		$	27,664
Reserves for inventory		33,537		9,656		-		(4,737	)		1,258			39,714
Valuation of deferred tax assets		7,874		649		-		(1,501	)		(2,384	)		4,638

Year ended December 31, 2021
Allowance for credit losses	$	12,001	$	206	$	-	$	(1,640	)	$	1,458		$	12,025
Reserves for inventory		27,817		17,698		-		(15,749	)		3,771			33,537
Valuation of deferred tax assets		5,740		1,404		-		(2,441	)		3,171			7,874

Year ended December 31, 2020
Allowance for credit losses	$	6,968	$	4,645	$	1,147	$	(957	)	$	198		$	12,001
Reserves for inventory		24,293		11,353		-		(8,788	)		959			27,817
Valuation of deferred tax assets		5,024		716		-		-			-			5,740

Note 17 - Share Plans

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Text Block]

17.

Share Plans

The Company adopted an equity incentive plan (the 2010 Plan) on February 10, 2010 in connection with its initial public offering. The 2010 Plan, as amended, allowed for granting of up to 9.1 million share-based awards to executives, directors and employees. Awards available for grant under the 2010 Plan included stock options, stock appreciation rights, restricted stock, other share-based awards and performance-based compensation awards. New grants under the 2010 Plan ceased in June 2019. Total share-based compensation expense related to the 2010 Plan, net of estimated forfeitures, was $2,379, $6,249, and $11,681 for the years ended December 31, 2022, 2021 and 2020, respectively, which is recorded in operating expenses in the consolidated statements of comprehensive income.

On June 13, 2019, the stockholders of Generac Holdings Inc. approved the Company’s 2019 Equity Incentive Plan (the 2019 Plan). The 2019 Plan allows for granting of up to 2.7 million share-based awards to executives, directors and employees. Awards available for grant under the 2019 Plan include stock options, stock appreciation rights, restricted stock, other share-based awards and performance-based compensation awards. Total share-based compensation expense related to the 2019 Plan, net of estimated forfeitures, was $27,102, $17,705, and $9,201 for the years ended December 31, 2022, 2021 and 2020, respectively, which is recorded in operating expenses in the consolidated statements of comprehensive income.

Stock Options - Stock options granted in 2022 have an exercise price between $103.50 per share and $315.88 per share; stock options granted in 2021 have an exercise price between $323.66 per share and $438.83 per share; and stock options granted in 2020 have an exercise price between $91.00 per share and $158.89 per share. Stock options vest in equal installments over four years, subject to the grantee’s continued employment or service and expire ten years after the date of grant.

Stock option exercises can be net-share settled such that the Company withholds shares with value equivalent to the exercise price of the stock option awards plus the employees’ minimum statutory obligation for the applicable income and other employment taxes. Total shares withheld were 17,376, 8,608, and 24,070 for the years ended December 31, 2022, 2021 and 2020, respectively, and were based on the value of the stock on the exercise dates. The net-share settlement has the effect of share repurchases by the Company as they reduce the number of shares that would have otherwise been issued.

Employees can also utilize a cashless for cash exercise of stock options, such that all exercised shares will be sold in the market immediately. Cash equivalent to the exercise price of the awards plus the employees’ minimum statutory tax obligations is remitted to the Company, with the remaining cash being transferred to the employee. Total net proceeds from the cashless for cash exercise of stock options were $13,786, $38,787, and $13,089 for the years ended December 31, 2022, 2021 and 2020, respectively, and are reflected as a financing activity in the consolidated statements of cash flows.

Total payments made by the Company to the taxing authorities for the employees’ tax obligations related to stock option exercises were $14,089, $31,680, and $7,297 for the years ended December 31, 2022, 2021 and 2020, respectively, and are reflected as a financing activity in the consolidated statements of cash flows.

The grant-date fair value of each option grant is estimated using the Black-Scholes-Merton option pricing model. The fair value is then amortized on a straight-line basis over the requisite service period of the awards, which is generally the vesting period. Use of a valuation model requires management to make certain assumptions with respect to selected model inputs. Expected volatility is calculated based on an analysis of historic volatility of the Company’s stock price. The average expected life is based on the contractual term of the option using the simplified method. The risk-free interest rate is based on U.S. Treasury zero-coupon issues with a remaining term equal to the expected life assumed at the date of grant. The compensation expense recognized is net of estimated forfeitures. Forfeitures are estimated based on actual share option forfeiture history and are trued up upon vesting based on actual forfeiture activity.

The weighted-average assumptions used in the Black-Scholes-Merton option pricing model for 2022, 2021 and 2020 are as follows:

	Year Ended December 31,
	2022			2021			2020
Weighted average grant date fair value per share	$	129.38		$	129.47		$	35.79

Assumptions:
Expected stock price volatility		38	%		37	%		32	%
Risk free interest rate		1.54	%		0.45	%		1.56	%
Expected annual dividend per share	$	-		$	-		$	-
Expected life of options (years)		6.25			6.25			6.25

A summary of the Company’s stock option activity and related information for the years ended December 31, 2022, 2021 and 2020 is as follows:

	*Number of Options*			*Weighted-Average Exercise Price*		*Weighted-Average Remaining Contractual Term (in years)*		*Aggregate Intrinsic Value ($ in thousands)*
Outstanding as of December 31, 2019		1,592,686		$	42.04		6.9	$	93,242
Granted		173,650			102.32
Exercised		(216,196	)		39.88
Forfeited		(21,450	)		50.25
Outstanding as of December 31, 2020		1,528,690			49.08		6.3	$	272,553

Granted		70,392			335.70
Exercised		(229,921	)		45.95
Forfeited		(27,030	)		63.27
Outstanding as of December 31, 2021		1,342,131			64.29		5.5	$	386,069

Granted		109,266			282.20
Exercised		(137,305	)		36.91
Forfeited		(45,688	)		194.05
Outstanding as of December 31, 2022		1,268,404			81.35		4.9	$	47,764

Exercisable as of December 31, 2022		982,934			50.86		4.1	$	44,904

As of December 31, 2022, there was $16,098 of total unrecognized compensation cost, net of expected forfeitures, related to unvested options. The cost is expected to be recognized over the remaining service period, having a weighted-average period of 2.8 years. Total share-based compensation cost related to stock options for the years ended December 31, 2022, 2021 and 2020 was $6,911, $6,462, and $5,860, respectively, which is recorded in operating expenses in the consolidated statements of comprehensive income.

Restricted Stock – Restricted stock awards vest in equal installments over three years, subject to the grantee’s continued employment or service. Certain restricted stock awards also include performance shares, whereby the number of performance shares that can be earned are contingent upon Company performance measures over a three-year period. Performance measures are based on a weighting of a number of financial metrics, from which grantees may earn from 0% to 200% of their target performance share award. The performance period for the 2020 awards covers the years 2020 through 2022, the performance period for the 2021 awards covers the years 2021 through 2023, and the performance period for the 2022 awards covers the years 2022 through 2024. The Company estimates the number of performance shares that will vest based on projected financial performance. The fair value of restricted awards is determined based on the market value of the Company's shares on the grant date. The fair market value of the restricted awards at the time of the grant is amortized to expense over the period of vesting. The compensation expense recognized for restricted share awards is net of estimated forfeitures and is trued up upon vesting based on actual forfeiture activity.

Restricted stock vesting is net-share settled such that, upon vesting, the Company withholds shares with value equivalent to the employees’ minimum statutory tax obligation, and then pays the cash to the taxing authorities on behalf of the employees. In effect, the Company repurchases these shares and classifies them as treasury stock. Total shares withheld were 92,008, 80,583, and 70,718 for the years ended December 31, 2022, 2021 and 2020, respectively, and were based on the value of the stock on the vesting dates. Total payments made by the Company to the taxing authorities for the employees’ tax obligations related to restricted stock vesting were $26,834, $27,223, and $7,613 for the years ended December 31, 2022, 2021 and 2020, respectively, and are reflected as a financing activity within the consolidated statements of cash flows.

A summary of the Company's restricted stock activity for the years ended December 31, 2022, 2021 and 2020 is as follows:

	*Shares*			*Weighted-Average Grant-Date Fair Value*
Non-vested as of December 31, 2019		491,637		$	52.84
Granted		183,868			95.14
Vested		(200,390	)		45.10
Forfeited		(18,921	)		56.58
Non-vested as of December 31, 2020		456,194			68.42

Granted		126,339			223.09
Vested		(202,327	)		58.99
Forfeited		(14,241	)		138.64
Non-vested as of December 31, 2021		365,965			124.25

Granted		287,821			214.58
Vested		(234,284	)		83.52
Forfeited		(41,204	)		263.47
Non-vested as of December 31, 2022		378,298			203.04

As of December 31, 2022, there was $48,934 of unrecognized compensation cost, net of expected forfeitures, related to non-vested restricted stock awards. That cost is expected to be recognized over the remaining service period, having a weighted-average period of 2.1 years. Total share-based compensation cost related to the restricted stock for the years ended December 31, 2022, 2021 and 2020, inclusive of performance shares, was $22,570, $17,492, and $15,022, respectively, which is recorded in operating expenses in the consolidated statements of comprehensive income.

During 2022, 2021 and 2020, 8,572, 4,677, and 15,275 shares of stock, respectively, were granted to certain members of the Company’s Board of Directors as a component of their compensation for their service on the Board, all of which were fully vested at time of grant. A non-employee director can elect to receive his or her director fees in the form of deferred stock units, which voluntarily defers the issuance of the related shares granted until the director separates from the Company or a triggering event occurs. 5,008, 3,160, and 10,528 of deferred stock units are included in the shares of stock granted to certain members of the Company’s Board of Directors for the years 2022, 2021, and 2020, respectively. Total share-based compensation cost for these share grants in 2022, 2021 and 2020 was $1,886, $1,579, and $1,558, respectively, which is recorded in operating expenses in the consolidated statements of comprehensive income.

Note 4 - Redeemable Noncontrolling Interest - Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Redemption value adjustment	$ (49,235)	$ (17,102)	$ (1,247)
Redeemable Noncontrolling Interest [Member]
Balance	58,050	66,207	61,227
Share of net income (loss)	7,543	5,574	(2,829)
Foreign currency translation	(3,982)	(3,669)	6,562
Purchase of additional ownership interest	(375)	(27,164)	0
Redemption value adjustment	49,235	17,102	1,247
Balance	$ 110,471	$ 58,050	$ 66,207

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 9 - Goodwill and Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Finite-lived intangible assets, gross	$ 1,472,148	$ 1,479,276
Finite-lived intangible assets, accumulated amortization	(669,755)	(566,435)
Finite-lived intangible assets, net	802,393	912,841
Indefinite-lived tradenames, gross	128,321	128,321
Total intangible assets, gross	1,600,469	1,607,597
Total intangible assets, net	$ 930,714	1,041,162
Trade Names [Member]
Finite-lived intangible assets, useful life (Year)	14 years
Finite-lived intangible assets, gross	$ 157,751	162,563
Finite-lived intangible assets, accumulated amortization	(58,821)	(47,353)
Finite-lived intangible assets, net	$ 98,930	115,210
Customer Lists [Member]
Finite-lived intangible assets, useful life (Year)	11 years
Finite-lived intangible assets, gross	$ 577,203	573,910
Finite-lived intangible assets, accumulated amortization	(370,216)	(335,188)
Finite-lived intangible assets, net	$ 206,987	238,722
Patents and Technology [Member]
Finite-lived intangible assets, useful life (Year)	14 years
Finite-lived intangible assets, gross	$ 665,563	662,341
Finite-lived intangible assets, accumulated amortization	(210,806)	(169,868)
Finite-lived intangible assets, net	454,757	492,473
Computer Software, Intangible Asset [Member]
Finite-lived intangible assets, gross	1,046	1,046
Finite-lived intangible assets, accumulated amortization	(1,046)	(1,046)
Finite-lived intangible assets, net	$ 0	0
Noncompete Agreements [Member]
Finite-lived intangible assets, useful life (Year)	5 years
Finite-lived intangible assets, gross	$ 70,585	79,416
Finite-lived intangible assets, accumulated amortization	(28,866)	(12,980)
Finite-lived intangible assets, net	$ 41,719	$ 66,436

Note 17 - Share Plans - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Outstanding, number of options (in shares)	1,342,131	1,528,690	1,592,686
Outstanding, weighted average exercise price (in dollars per share)	$ 64.29	$ 49.08	$ 42.04
Outstanding, weighted average remaining contractual term (Year)	4 years 10 months 24 days	5 years 6 months	6 years 3 months 18 days	6 years 10 months 24 days
Outstanding, aggregate intrinsic value	$ 47,764	$ 386,069	$ 272,553	$ 93,242
Granted, number of options (in shares)	109,266	70,392	173,650
Granted, weighted average exercise price (in dollars per share)	$ 282.20	$ 335.70	$ 102.32
Exercised, number of options (in shares)	(137,305)	(229,921)	(216,196)
Exercised, weighted average exercise price (in dollars per share)	$ 36.91	$ 45.95	$ 39.88
Forfeited, number of options (in shares)	(45,688)	(27,030)	(21,450)
Forfeited, weighted average exercise price (in dollars per share)	$ 194.05	$ 63.27	$ 50.25
Outstanding, number of options (in shares)	1,268,404	1,342,131	1,528,690	1,592,686
Outstanding, weighted average exercise price (in dollars per share)	$ 81.35	$ 64.29	$ 49.08	$ 42.04
Exercisable, number of options (in shares)	982,934
Exercisable, weighted average exercise price (in dollars per share)	$ 50.86

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

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Net current-period other comprehensive income (loss)

$ 2,214,087

$ 1,390,204

$ 1,032,851

(10,347)

(20,501)

(9,337)

Accumulated Foreign Currency Adjustment Attributable to Parent [Member]

2,259,255

2,214,087

1,390,204

Other comprehensive income (loss) before reclassifications

(52,704)

(11,674)

(48,841)

^[1]

(41,030)

^[2]

Net current-period other comprehensive income (loss)

(48,841)

(41,030)

Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]

(101,545)

(52,704)

(11,674)

Other comprehensive income (loss) before reclassifications

(2,051)

(22,580)

38,494

^[3]

20,529

^[4]

Net current-period other comprehensive income (loss)

38,494

20,529

AOCI Attributable to Parent [Member]

36,443

(2,051)

(22,580)

Other comprehensive income (loss) before reclassifications

(54,755)

(34,254)

(24,917)

(10,347)

(20,501)

Amounts reclassified from AOCL

Net current-period other comprehensive income (loss)

(10,347)

(20,501)

$ (65,102)

$ (54,755)

$ (34,254)

[1]	Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the year ended December 31, 2022, particularly the Euro and British Pound.
[2]	Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the year ended December 31, 2021, particularly the Euro and British Pound.
[3]	Represents unrealized gains of $51,352 on the interest rate swaps, net of tax effect of $(12,858) for the year ended December 31, 2022.
[4]	Represents unrealized gains of $27,462 on the interest rate swaps, net of tax effect of $(6,933) for the year ended December 31, 2021.

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (b)
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 4
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Section 50
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 830
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-Section 45
-Paragraph 17
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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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 15 - Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accrued expenses	$ 46,994	$ 37,797
Deferred revenue	34,914	27,003
Inventories	20,229	14,907
Stock-based compensation	11,750	10,202
Operating loss and credit carryforwards	56,279	68,368
Bad debt	1,415	1,253
Other deferred tax assets	7,531	12,203
Capitalized R&D	33,738	0
Valuation allowance	(4,638)	(7,874)
Total deferred tax assets	208,212	163,859
Goodwill and intangible assets	260,745	328,162
Depreciation	44,385	21,340
Debt refinancing costs	1,184	2,916
Interest swap and derivative	12,370	0
Prepaid expenses	2,473	1,664
Total deferred tax liabilities	321,157	354,082
Net deferred tax liabilities	$ (112,945)	$ (190,223)

Note 11 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties (Details) (Parentheticals)	Dec. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue performance period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue performance period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue performance period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue performance period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue performance period (Year)	1 year

Note 7 - Segment Reporting - Total Sales by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Total sales	$ 1,049,232	$ 1,088,258	$ 1,291,391	$ 1,135,856	$ 1,067,071	$ 942,698	$ 919,981	$ 807,434	$ 4,564,737	$ 3,737,184	$ 2,485,200
External Net Sales [Member]
Total sales									4,564,737	3,737,184	2,485,200
Intersegment Sales [Member]
Total sales									0	0	0
Intersegment Eliminations [Member]
Total sales									(154,430)	(65,462)	(15,154)
Intersegment Eliminations [Member] \| External Net Sales [Member]
Total sales									0	0	0
Intersegment Eliminations [Member] \| Intersegment Sales [Member]
Total sales									(154,430)	(65,462)	(15,154)
Domestic [Member]
Total sales									3,867,866	3,164,050	2,088,808
Domestic [Member] \| Operating Segments [Member]
Total sales									3,928,597	3,203,389	2,102,313
Domestic [Member] \| Operating Segments [Member] \| External Net Sales [Member]
Total sales									3,867,866	3,164,050	2,088,808
Domestic [Member] \| Operating Segments [Member] \| Intersegment Sales [Member]
Total sales									60,731	39,339	13,505
International [Member]
Total sales									696,871	573,134	396,392
International [Member] \| Operating Segments [Member]
Total sales									790,570	599,257	398,041
International [Member] \| Operating Segments [Member] \| External Net Sales [Member]
Total sales									696,871	573,134	396,392
International [Member] \| Operating Segments [Member] \| Intersegment Sales [Member]
Total sales									$ 93,699	$ 26,123	$ 1,649

Note 6 - Accumulated Other Comprehensive Loss (Details Textual) - Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Other Comprehensive Income (Loss), before Reclassifications, before Tax	$ 51,352	$ 27,462
Other Comprehensive Income (Loss) before Reclassifications, Tax, Total	$ (12,858)	$ (6,933)

Note 19 - Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2022

Quarterly Financial Information [Table Text Block]

	*Quarters Ended 2022*
	Q1		Q2		Q3		Q4
Net sales	$	1,135,856	$	1,291,391	$	1,088,258	$	1,049,232
Gross profit		360,748		456,985		361,104		343,167
Operating income		154,735		216,844		87,523		107,228
Net income attributable to Generac Holdings Inc.		113,858		156,359		58,270		71,015
Net income attributable to common shareholders per common share - basic:	$	1.61	$	2.24	$	0.84	$	0.84
Net income attributable to common shareholders per common share - diluted:	$	1.57	$	2.21	$	0.83	$	0.83

	*Quarters Ended 2021*
	Q1		Q2		Q3		Q4
Net sales	$	807,434	$	919,981	$	942,698	$	1,067,071
Gross profit		321,814		339,735		335,994		362,539
Operating income		189,124		182,952		173,579		175,481
Net income attributable to Generac Holdings Inc.		148,993		127,036		131,570		142,895
Net income attributable to common shareholders per common share - basic:	$	2.39	$	2.06	$	1.98	$	2.09
Net income attributable to common shareholders per common share - diluted:	$	2.33	$	2.01	$	1.93	$	2.04

Note 7 - Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2022

Disaggregation of Revenue [Table Text Block]

	*Net Sales by Segment*
	*Year Ended December 31, 2022*
Product Classes	*Domestic*		*International*		*Total*
Residential products	$	2,782,037	$	129,834	$	2,911,871
Commercial & industrial products		746,172		514,565		1,260,737
Other		339,657		52,472		392,129
Total net sales	$	3,867,866	$	696,871	$	4,564,737

	*Year Ended December 31, 2021*
Product Classes	*Domestic*		*International*		*Total*
Residential products	$	2,366,908	$	89,857	$	2,456,765
Commercial & industrial products		556,520		442,478		998,998
Other		240,622		40,799		281,421
Total net sales	$	3,164,050	$	573,134	$	3,737,184

	*Year Ended December 31, 2020*
Product Classes	*Domestic*		*International*		*Total*
Residential products	$	1,495,383	$	61,118	$	1,556,501
Commercial & industrial products		404,867		296,884		701,751
Other		188,558		38,390		226,948
Total net sales	$	2,088,808	$	396,392	$	2,485,200

Reconciliation of Revenue from Segments to Consolidated [Table Text Block]

	Year Ended December 31, 2022
	Domestic		International		Eliminations			Total
External net sales	$	3,867,866	$	696,871	$	-		$	4,564,737
Intersegment sales		60,731		93,699		(154,430	)		-
Total sales	$	3,928,597	$	790,570	$	(154,430	)	$	4,564,737

	Year Ended December 31, 2021
	Domestic		International		Eliminations			Total
External net sales	$	3,164,050	$	573,134	$	-		$	3,737,184
Intersegment sales		39,339		26,123		(65,462	)		-
Total sales	$	3,203,389	$	599,257	$	(65,462	)	$	3,737,184

	Year Ended December 31, 2020
	Domestic		International		Eliminations			Total
External net sales	$	2,088,808	$	396,392	$	-		$	2,485,200
Intersegment sales		13,505		1,649		(15,154	)		-
Total sales	$	2,102,313	$	398,041	$	(15,154	)	$	2,485,200

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

	*Adjusted EBITDA*
	*Year Ended December 31,*
	*2022*			*2021*			*2020*
Domestic	$	716,302		$	795,417		$	563,394
International		109,065			66,008			20,379
Total adjusted EBITDA	$	825,367		$	861,425		$	583,773

Interest expense		(54,826	)		(32,953	)		(32,991	)
Depreciation and amortization		(156,141	)		(92,041	)		(68,773	)
Non-cash write-down and other adjustments (1)		2,091			3,070			327
Non-cash share-based compensation expense (2)		(29,481	)		(23,954	)		(20,882	)
Loss on extinguishment of debt (3)		(3,743	)		(831	)		-
Transaction costs and credit facility fees (4)		(5,026	)		(22,357	)		(2,151	)
Business optimization and other charges (5)		(4,371	)		(33	)		(12,158	)
Provision for regulatory and clean energy product charges (6)		(65,265	)		-			-
Other		(139	)		(800	)		(954	)
Income before provision for income taxes	$	508,466		$	691,526		$	446,191

	*Assets*
	*December 31,*
	*2022*		*2021*		*2020*
Domestic	$	4,032,086	$	3,742,101	$	2,659,597
International		1,137,376		1,135,679		575,826
Total	$	5,169,462	$	4,877,780	$	3,235,423

	*Depreciation and Amortization*
	*Year Ended December 31,*
	*2022*		*2021*		*2020*
Domestic	$	123,768	$	66,675	$	53,020
International		32,373		25,366		15,753
Total	$	156,141	$	92,041	$	68,773

	*Capital Expenditures*
	*Year Ended December 31,*
	*2022*		*2021*		*2020*
Domestic	$	69,680	$	100,672	$	51,867
International		16,508		9,320		10,261
Total	$	86,188	$	109,992	$	62,128

Note 7 - Segment Reporting

12 Months Ended

Dec. 31, 2022

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 substantially derived from the U.S. and Canada. The International segment includes the legacy Generac business' Latin American export operations, and the acquisitions not based in the U.S and Canada, all of which have revenues substantially derived from outside the U.S and Canada. Both reportable segments design and manufacture a wide range of 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, organizational structure, and regional considerations.

The Company's product offerings consist primarily of power generation equipment, energy storage systems, energy management devices & solutions, and other power products geared for varying end customer uses. Residential products and 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 & services by reportable segment is as follows:

	*Net Sales by Segment*
	*Year Ended December 31, 2022*
Product Classes	*Domestic*		*International*		*Total*
Residential products	$	2,782,037	$	129,834	$	2,911,871
Commercial & industrial products		746,172		514,565		1,260,737
Other		339,657		52,472		392,129
Total net sales	$	3,867,866	$	696,871	$	4,564,737

	*Year Ended December 31, 2021*
Product Classes	*Domestic*		*International*		*Total*
Residential products	$	2,366,908	$	89,857	$	2,456,765
Commercial & industrial products		556,520		442,478		998,998
Other		240,622		40,799		281,421
Total net sales	$	3,164,050	$	573,134	$	3,737,184

	*Year Ended December 31, 2020*
Product Classes	*Domestic*		*International*		*Total*
Residential products	$	1,495,383	$	61,118	$	1,556,501
Commercial & industrial products		404,867		296,884		701,751
Other		188,558		38,390		226,948
Total net sales	$	2,088,808	$	396,392	$	2,485,200

Residential products consist primarily of automatic home standby generators ranging in output from 7.5kW to 150kW, portable generators, energy storage systems, energy management devices & 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, who 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, with power outputs up to 3,250kW. Also included in C&I products are mobile generators, light towers, mobile energy storage systems, mobile heaters, mobile pumps, and related controllers for power generation equipment. These products are sold globally through industrial distributors and dealers, EPC companies, equipment rental companies, and equipment distributors. The C&I products revenue consists of the sale of the product to our distribution partners, who 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 consists primarily of aftermarket service parts and product accessories sold to our customers, the amortization of extended warranty deferred revenue, remote monitoring and grid services subscription revenue, as well as certain installation and maintenance service revenue. The aftermarket service parts and product accessories are generally transferred to the customer at a point in time, while the extended warranty and subscription revenue are recognized over the life of the contract. Other service revenue is recognized when the service is performed.

The following tables sets forth total sales by reportable segment and inclusive of intersegment sales:

	Year Ended December 31, 2022
	Domestic		International		Eliminations			Total
External net sales	$	3,867,866	$	696,871	$	-		$	4,564,737
Intersegment sales		60,731		93,699		(154,430	)		-
Total sales	$	3,928,597	$	790,570	$	(154,430	)	$	4,564,737

	Year Ended December 31, 2021
	Domestic		International		Eliminations			Total
External net sales	$	3,164,050	$	573,134	$	-		$	3,737,184
Intersegment sales		39,339		26,123		(65,462	)		-
Total sales	$	3,203,389	$	599,257	$	(65,462	)	$	3,737,184

	Year Ended December 31, 2020
	Domestic		International		Eliminations			Total
External net sales	$	2,088,808	$	396,392	$	-		$	2,485,200
Intersegment sales		13,505		1,649		(15,154	)		-
Total sales	$	2,102,313	$	398,041	$	(15,154	)	$	2,485,200

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 primarily on the definition that is contained in the Company’s credit agreements.

	*Adjusted EBITDA*
	*Year Ended December 31,*
	*2022*			*2021*			*2020*
Domestic	$	716,302		$	795,417		$	563,394
International		109,065			66,008			20,379
Total adjusted EBITDA	$	825,367		$	861,425		$	583,773

Interest expense		(54,826	)		(32,953	)		(32,991	)
Depreciation and amortization		(156,141	)		(92,041	)		(68,773	)
Non-cash write-down and other adjustments (1)		2,091			3,070			327
Non-cash share-based compensation expense (2)		(29,481	)		(23,954	)		(20,882	)
Loss on extinguishment of debt (3)		(3,743	)		(831	)		-
Transaction costs and credit facility fees (4)		(5,026	)		(22,357	)		(2,151	)
Business optimization and other charges (5)		(4,371	)		(33	)		(12,158	)
Provision for regulatory and clean energy product charges (6)		(65,265	)		-			-
Other		(139	)		(800	)		(954	)
Income before provision for income taxes	$	508,466		$	691,526		$	446,191

(1)

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

(2)

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

(3)

Represents the non-cash write-off of original issue discount and deferred financing costs due primarily to a voluntary prepayment of debt.

(4)

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.

(5)

For the year ended December 31, 2022, predominantly represents severance and other restructuring charges related to the suspension of operations at certain of our facilities. For the year ended December 31, 2020, represents severance, non-cash asset write-downs and other charges to address the impact of the COVID-19 pandemic and decline in oil prices on demand for C&I products. These charges represent expenses that do not reflect ongoing operations.

(6)

For the year ended December 31, 2022, represents a specific credit loss provision of $17,926 for a clean energy product customer that filed for bankruptcy, as well as a warranty provision of $37,338 to address certain clean energy product warranty-related matters. The amount also includes a provision of $10,000 for a pending and unresolved matter with the CPSC concerning the imposition of potential penalty fines for allegedly failing to timely submit a report under the CPSA in relation to certain portable generators that were subject to a voluntary recall previously announced on July 29, 2021.

The following tables summarize additional financial information by reportable segment:

	*Assets*
	*December 31,*
	*2022*		*2021*		*2020*
Domestic	$	4,032,086	$	3,742,101	$	2,659,597
International		1,137,376		1,135,679		575,826
Total	$	5,169,462	$	4,877,780	$	3,235,423

	*Depreciation and Amortization*
	*Year Ended December 31,*
	*2022*		*2021*		*2020*
Domestic	$	123,768	$	66,675	$	53,020
International		32,373		25,366		15,753
Total	$	156,141	$	92,041	$	68,773

	*Capital Expenditures*
	*Year Ended December 31,*
	*2022*		*2021*		*2020*
Domestic	$	69,680	$	100,672	$	51,867
International		16,508		9,320		10,261
Total	$	86,188	$	109,992	$	62,128

The Company’s sales in the United States represent approximately 80%, 82%, and 82% of total sales for the years ended December 31, 2022, 2021 and 2020, respectively. Approximately 77% and 75% of the Company’s identifiable long-lived assets are located in the United States as of December 31, 2022 and 2021, 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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Note 7 - Segment Reporting - Net Sales by Products and Services (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net sales	$ 1,049,232	$ 1,088,258	$ 1,291,391	$ 1,135,856	$ 1,067,071	$ 942,698	$ 919,981	$ 807,434	$ 4,564,737	$ 3,737,184	$ 2,485,200
Domestic [Member]
Net sales									3,867,866	3,164,050	2,088,808
International [Member]
Net sales									696,871	573,134	396,392
Residential Power Products [Member]
Net sales									2,911,871	2,456,765	1,556,501
Residential Power Products [Member] \| Domestic [Member]
Net sales									2,782,037	2,366,908	1,495,383
Residential Power Products [Member] \| International [Member]
Net sales									129,834	89,857	61,118
Commercial and Industrial Power Products [Member]
Net sales									1,260,737	998,998	701,751
Commercial and Industrial Power Products [Member] \| Domestic [Member]
Net sales									746,172	556,520	404,867
Commercial and Industrial Power Products [Member] \| International [Member]
Net sales									514,565	442,478	296,884
Other Products and Services [Member]
Net sales									392,129	281,421	226,948
Other Products and Services [Member] \| Domestic [Member]
Net sales									339,657	240,622	188,558
Other Products and Services [Member] \| International [Member]
Net sales									$ 52,472	$ 40,799	$ 38,390

Gain (Loss) on Extinguishment of Debt, Total

Note 12 - Credit Agreements (Details Textual) - USD ($)
$ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Jan. 01, 2023

May 31, 2013

Jun. 30, 2022

May 31, 2021

May 31, 2015

Jun. 30, 2022

Jun. 30, 2021

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

May 01, 2021

Short-Term Debt, Total

$ 48,990

$ 72,035

^[1]

$ (3,743)

(831)

$ 0

ABL Revolving Credit Facility [Member]

Line of Credit Facility, Maximum Borrowing Capacity

$ 500,000

$ 300,000

Line of Credit Facility, Incremental Capacity

200,000

$ 100,000

Debt Issuance Costs, Net, Total

920

Proceeds from Long-term Lines of Credit

$ 50,000

Write off of Deferred Debt Issuance Cost

$ 197

Revolving Credit Facility [Member]

Line of Credit Facility, Maximum Borrowing Capacity

1,250,000

$ 1,250,000

Debt Issuance Costs, Net, Total

10,330

Covenant Maximum Total Leverage Ratio

3.75

Covenant Minimum Interest Coverage Ratio

3.00

Total Leverage Ratio

1.74

Interest Coverage Ratio

14.81

Debt Instrument, Fee Amount

800

Long-Term Line of Credit, Total

$ 90,000

Line of Credit Facility, Remaining Borrowing Capacity

$ 1,158,725

Base Rate [Member] | ABL Revolving Credit Facility [Member]

Base Rate [Member] | Maximum [Member] | ABL Revolving Credit Facility [Member]

1.00%

Base Rate [Member] | Minimum [Member] | ABL Revolving Credit Facility [Member]

0.25%

Adjusted LIBOR Rate [Member] | ABL Revolving Credit Facility [Member]

0.00%

London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | ABL Revolving Credit Facility [Member]

2.00%

London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ABL Revolving Credit Facility [Member]

1.25%

Tranche B Term Loan Facility [Member]

1.00%

Line of Credit Facility, Maximum Borrowing Capacity

$ 1,200,000

Uncommitted Incremental Term Loan Facility

$ 300,000

Debt Instrument, SOFR Floor

0.00%

Debt Instrument, Interest Rate, Effective Percentage

5.97%

Gain (Loss) on Extinguishment of Debt, Total

3,546

$ (831)

Repayments of Long-Term Debt, Total

250,000

Tranche B Term Loan Facility [Member] | Maximum [Member]

Threshold for Secured Leverage Ratio Excess Cash Flow Payment Requirement

3.75

Tranche B Term Loan Facility [Member] | Base Rate [Member]

Tranche B Term Loan Facility [Member] | Adjusted LIBOR Rate [Member]

1.75%

0.75%

Tranche B Term Loan Facility [Member] | LIBOR Floor Rate [Member]

2.75%

Tranche B Term Loan Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]

0.75%

Term Loan [Member] | Maximum [Member]

1.75%

Secured Leverage Ratio

1.55

Tranche A Term Loan Facility [Member]

Line of Credit Facility, Maximum Borrowing Capacity

$ 750,000

Tranche A Term Loan Facility and Revolving Credit Facility [Member]

Debt Instrument, SOFR Floor

0.00%

Debt Instrument, Interest Rate, Effective Percentage

5.72%

Long-Term Debt, Maturity Date

Jun. 29, 2027

Tranche A Term Loan Facility and Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]

Tranche A Term Loan Facility and Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Maximum [Member] | Forecast [Member]

1.50%

Tranche A Term Loan Facility and Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Minimum [Member] | Forecast [Member]

1.75%

Consolidation, Policy [Policy Text Block]

1.25%

[1]	Represents the non-cash write-off of original issue discount and deferred financing costs due primarily to a voluntary prepayment of debt.

Note 17 - Share Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 13, 2019	Feb. 10, 2010
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)					9,100,000
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)	$ 282.20	$ 335.70	$ 102.32
Proceeds from Stock Options Exercised	$ 13,786	$ 38,787	$ 13,089
Payment, Tax Withholding, Share-Based Payment Arrangement	$ 40,923	$ 58,903	$ 14,910
Board of Directors Chairman [Member]
Deferred Compensation Arrangement with Individual, Shares Issued (in shares)	8,572	4,677	15,275
Deferred Compensation Arrangement with Individual, Shares Granted (in shares)	5,008	3,160	10,528
Deferred Compensation Arrangement with Individual, Compensation Expense	$ 1,886	$ 1,579	$ 1,558
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Expense	$ 6,911	$ 6,462	$ 5,860
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		4 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)		10 years
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares)	17,376	8,608	24,070
Proceeds from Stock Options Exercised	$ 13,786	$ 38,787	$ 13,089
Payment, Tax Withholding, Share-Based Payment Arrangement	14,089	$ 31,680	$ 7,297
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 16,098
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	2 years 9 months 18 days
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares)	92,008	80,583	70,718
Payment, Tax Withholding, Share-Based Payment Arrangement	$ 26,834	$ 27,223	$ 7,613
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 48,934
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	2 years 1 month 6 days
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Performance Measurement, Period (Year)	3 years
Restricted Stock and Performance Shares [Member]
Share-Based Payment Arrangement, Expense	$ 22,570	$ 17,492	$ 15,022
Minimum [Member]
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)	$ 103.50	$ 323.66	$ 91.00
Performance Share Award, Percentage	0.00%
Maximum [Member]
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)	$ 315.88	$ 438.83	$ 158.89
Performance Share Award, Percentage	200.00%
Equity Incentive Plan (Plan) [Member]
Share-Based Payment Arrangement, Expense	$ 2,379	$ 6,249	$ 11,681
The 2019 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)				2,700,000
Share-Based Payment Arrangement, Expense	$ 27,102	$ 17,705	$ 9,201

Note 10 - Leases - Leases Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating lease cost	$ 36,292	$ 22,432	$ 18,648
Amortization of ROU assets	3,298	3,187	2,587
Interest on lease liabilities	1,945	2,021	2,237
Total lease cost	$ 41,535	$ 27,640	$ 23,472

Note 14 - Earnings Per Share (Details Textual) - shares	12 Months Ended
Note 14 - Earnings Per Share (Details Textual) - shares	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	76,000	0	0

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Principles of Consolidation

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentration of Credit Risk

The Company maintains the majority of its domestic cash in a few commercial banks in multiple operating and investment accounts. Balances on deposit are insured by the Federal Deposit Insurance Corporation (FDIC) up to specified limits. Balances in excess of FDIC limits are uninsured.

One customer accounted for approximately 11% and 8% of accounts receivable at December 31, 2022 and 2021, respectively. No one customer accounted for greater than 4%, 6%, and 6%, of net sales during the years ended December 31, 2022, 2021, and 2020, respectively.

Receivable [Policy Text Block]

Accounts Receivable and Allowance for Credit Losses

The Company's trade and other receivables primarily arise from the sale of its products and services 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, utilities, EPC companies, and certain end users with payment terms generally ranging from 30 to 90 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, credit bureau information, and regional considerations.

Receivables are recorded at their face value amount less an allowance for credit losses. 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 based on current market conditions. 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 various credit insurance plans that cover the risk of loss up to specified amounts on certain trade receivables. As of December 31, 2022, the Company had gross receivables of $550,122 and an allowance for credit losses of $27,664.

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

	*Year Ended December 31, 2022*
Balance at beginning of period	$	12,025
Established for acquisitions		498
Provision for credit losses (1)		17,966
Charge-offs		(2,554	)
Currency translation		(271	)
Balance at end of period	$	27,664

(1)	Includes a specific credit loss provision of $17,926 recorded during the third quarter of 2022 for a clean energy product customer that filed for bankruptcy.

Inventory, Policy [Policy Text Block]

Inventories

Inventories are stated at the lower of cost or market, with cost determined using the first-in, first-out method.

Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment

Property and equipment are recorded at cost and are being depreciated using the straight-line method over the estimated useful lives of the assets, which are summarized below (in years). Costs of leasehold improvements are amortized over the lesser of the term of the lease (including renewal option periods) or the estimated useful lives of the improvements. Finance lease right of use assets are included in property and equipment. Refer to Note 10, “Leases,” to the consolidated financial statements for the Company's lease disclosure.

Land improvements	8	–	20
Buildings and improvements	10	–	40
Machinery and equipment	3	–	15
Dies and tools	3	–	10
Vehicles	3	–	6
Office equipment and systems	3	–	15
Leasehold improvements	2	–	20

Total depreciation expense was $52,821, $42,155, and $36,493 for the years ended December 31, 2022, 2021 and 2020, respectively.

Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]

Goodwill and Other Indefinite-Lived Intangible Assets

Goodwill represents the excess of the purchase price over fair value of identifiable net assets acquired from business acquisitions. Goodwill is not amortized, but is reviewed for impairment on an annual basis and between annual tests if indicators of impairment are present. The Company evaluates goodwill for impairment annually as of October 31 or more frequently when an event occurs or circumstances change that indicates the carrying value may not be recoverable. The Company has the option to assess goodwill for impairment by performing either a qualitative assessment or quantitative test. The qualitative assessment determines whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then the quantitative test is not required to be performed. If the Company determines that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company is required to perform the quantitative test. In the quantitative test, the calculated fair value of the reporting unit is compared to its book value including goodwill. If the fair value of the reporting unit is in excess of its book value, the related goodwill is not impaired. If the fair value of the reporting unit is less than its book value, an impairment loss is recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit.

Other indefinite-lived intangible assets consist of certain tradenames. The Company tests the carrying value of these tradenames annually as of October 31, or more frequently when an event occurs or circumstances change that indicates the carrying value may not be recoverable, by comparing the assets’ fair value to its carrying value. Fair value is measured using a relief-from-royalty approach, which assumes the fair value of the tradename is the discounted cash flows of the amount that would be paid had the Company not owned the tradename and instead licensed the tradename from another company.

The Company performed the required annual impairment tests for goodwill and other indefinite-lived intangible assets for the fiscal years 2022, 2021 and 2020, and found no impairment.

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

Impairment of Long-Lived Assets

The Company periodically evaluates the carrying value of long-lived assets (excluding goodwill and indefinite-lived tradenames). Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the sum of the expected future undiscounted cash flows is less than the carrying amount of an asset, a loss is recognized for the difference between the fair value and carrying value of the asset.

Debt, Policy [Policy Text Block]

Debt Issuance Costs

Debt discounts and direct costs incurred in connection with the issuance or amendment of long-term debt are deferred and recorded as a reduction of outstanding debt and amortized to interest expense using the effective interest method over the terms of the related credit agreements. $3,234, $2,589, and $2,598, of deferred financing costs and original issue discount were amortized to interest expense during fiscal years 2022, 2021 and 2020, respectively. Excluding the impact of any future long-term debt issuances or prepayments, estimated amortization to interest expense for the next five years is as follows: 2023 - $3,885; 2024 - $3,923; 2025 - $3,919; 2026 - $3,819; 2027 - $1,028.

Income Tax, Policy [Policy Text Block]

Income Taxes

The Company is a C Corporation and therefore accounts for income taxes pursuant to the liability method. Accordingly, the current or deferred tax consequences of a transaction are measured by applying the provision of enacted tax laws to determine the amount of taxes payable currently or in future years. Deferred income taxes are provided for temporary differences between the income tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the years in which those temporary differences become deductible. The Company considers taxable income in prior carryback years, the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies, as appropriate, in making this assessment.

Revenue from Contract with Customer [Policy Text Block]

Revenue Recognition

The Company’s revenues primarily consist of product sales to its customers. The Company considers the purchase orders, which in some cases are governed by master sales agreements, to be the contracts with the customers. For each contract, the Company considers the commitment to transfer products, each of which is distinct, to be the identified performance obligations. Revenue is measured as the amount of consideration the Company expects to be entitled in exchange for the transfer of product, which is generally the price stated in the contract specific for each item sold, adjusted for the value of expected returns, discounts, rebates, or other promotional incentives or allowances offered to our customers. Expected returns for damaged or defective product are estimated using the expected value method based on historical product return experience. Discounts and rebates offered to customers are typically defined in the master sales agreements with customers and, therefore, are recorded using the most likely amount method based on the terms of the contract. Promotional incentives are defined programs offered for short, specific periods of time and are estimated using the expected value method based on historical experience. The Company does not expect the transaction price for revenue recognized will be subject to a significant revenue reversal. As the Company’s product sale contracts and standard payment terms have a duration of less than one year, it uses the practical expedient applicable to such contracts and does not consider the time value of money. Sales, use, value add, and other similar taxes assessed by governmental authorities and collected concurrent with revenue-producing activities are excluded from revenue. The Company has elected to recognize the cost for freight activities when control of the product has transferred to the customer as an expense within cost of goods sold in the consolidated statements of comprehensive income. Product revenues are recognized at the point in time when control of the product is transferred to the customer, which typically occurs upon shipment or delivery to the customer. To determine when control has transferred, the Company considers if there is a present right to payment and if legal title, physical possession, and the significant risks and rewards of ownership of the asset has transferred to the customer. As a substantial portion of the Company’s product revenues are recognized at a point in time, the amount of unsatisfied performance obligations at each period end is not material. The Company’s contracts have an original expected duration of one year or less. As a result, the Company has elected to use the practical expedient to not disclose its remaining performance obligations.

At the request of certain customers, the Company will warehouse inventory billed to the customer but not delivered. Unless all revenue recognition criteria have been met, the Company does not recognize revenue on these transactions until the customer takes possession of the product.

While the Company’s standard payment terms are less than one year, the specific payment terms and conditions in its customer contracts vary. In some cases, customers prepay for their goods; in other cases, after appropriate credit evaluation, an open credit line is granted and payment is due in arrears. Contracts with payment in arrears are recognized in the consolidated balance sheets as accounts receivable upon revenue recognition, while contracts where customers pay in advance are recognized as customer deposits and recorded in other accrued liabilities in the consolidated balance sheets until revenue is recognized. The balance of customer deposits (contract liabilities) was $33,551 and $27,388 at December 31, 2022 and December 31, 2021, respectively. During the year ended December 31, 2022, the Company recognized revenue of $27,388 related to amounts included in the December 31, 2021 customer deposit balance. The Company typically recognizes revenue within one year of the receipt of the customer deposit.

The Company offers standard warranty coverage on substantially all products that it sells and accounts for this standard warranty coverage as an assurance warranty. As such, no transaction price is allocated to the standard warranty, and the Company records a liability for product warranty obligations at the time of sale to a customer based on historical warranty experience. Refer to Note 11, “Product Warranty Obligations,” to the consolidated financial statements for further information regarding the Company’s standard warranties.

The Company also sells extended warranty coverage for certain products, which it accounts for as service warranties. In most cases, the extended warranty is sold as a separate contract. As such, extended warranty sales are considered a separate performance obligation, and the extended warranty transaction is separate and distinct from the product. The extended warranty transaction price is initially recorded as deferred revenue in the consolidated balance sheets and amortized on a straight-line basis to net sales in the consolidated statements of comprehensive income over the life of the contracts following the standard warranty period. For extended warranty contracts that the Company sells under a third-party marketing agreement, it is required to pay fees to the third-party service provider and classifies these fees as costs to obtain a contract. The contract costs are deferred and recorded as other assets in the consolidated balance sheets. The deferred contract costs are amortized to net sales in the consolidated statements of comprehensive income consistent with how the related deferred revenue is recognized. Refer to Note 11, “Product Warranty Obligations,” to the consolidated financial statements for further information regarding the Company’s extended warranties.

In addition to extended warranties, the Company offers other services, including remote monitoring, installation, maintenance, data center and telecom design and build, and grid services to utilities in certain circumstances. Total service revenues accounted for less than 3% of revenue during the year ended December 31, 2022.

Refer to Note 7, “Segment Reporting,” to the consolidated financial statements for the Company’s disaggregated revenue disclosure. The information discussed above is applicable to each of the Company’s product classes.

Advertising Cost [Policy Text Block]

Advertising and Co-Op Advertising

Expenditures for advertising, included in selling and service expenses in the consolidated statements of comprehensive income, are expensed as incurred. Expenditures for advertising production costs are expensed when the related advertisement is first run. Expenditures for Co-Op advertising are expensed when claimed by the customer. Total expenditures for advertising were $100,589, $66,660, and $53,678 for the years ended December 31, 2022, 2021 and 2020, respectively.

Research and Development Expense, Policy [Policy Text Block]

Research and Development

The Company expenses research and development costs as incurred. Total expenditures incurred for research and development were $159,774, $104,303, and $80,251 for the years ended December 31, 2022, 2021 and 2020, respectively.

Foreign Currency Transactions and Translations Policy [Policy Text Block]

Foreign Currency Translation and Transactions

Balance sheet amounts for non-U.S. Dollar functional currency subsidiaries are translated into U.S. Dollars at the rates of exchange in effect at the end of the fiscal year. Income and expenses incurred in a foreign currency are translated at the average rates of exchange in effect during the year. The related balance sheet translation adjustments are made directly to accumulated other comprehensive loss, a component of stockholders’ equity, in the consolidated balance sheets. Gains and losses from foreign currency transactions are recognized as incurred in the consolidated statements of comprehensive income.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value of Financial Instruments

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 the 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 revolving facility borrowings), excluding Term Loan borrowings, approximates the fair value of these instruments based on their short-term nature. The fair value of the Term Loan B borrowing, which has a net carrying value of $523,305, was approximately $516,750 (Level 2) at December 31, 2022, as calculated based on independent valuations whose inputs and significant value drivers are observable. The fair value of Term Loan A approximates the carrying value.

For the fair value of the assets and liabilities measured on a recurring basis, refer to the fair value table in Note 5, “Derivative Instruments and Hedging Activities,” to the 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 considers the Company’s credit risk in accordance with ASC 820-10.

Fair value of Contingent Consideration in a Business Combination [Policy Text Block]

Contingent Consideration

Certain of the Company's business combinations involve potential payment of future consideration that is contingent upon the achievement of certain milestones. As part of purchase accounting, a liability is recorded for the estimated fair value of the contingent consideration on the acquisition date. The fair value of the contingent consideration is remeasured at each reporting period, and the change in fair value is recognized within general and administrative expenses in the Company's consolidated statements of comprehensive income. The fair value measurement of contingent consideration is typically categorized as a Level 3 liability, as the measurement amount is based primarily on significant inputs that are not observable in the market. The fair value measurement of ecobee's contingent consideration is categorized as a Level 1 liability, as a definitive payout agreement has been reached.

The fair value of contingent consideration as of December 31, 2022 and December 31, 2021 was $81,533 and $146,759, respectively. At December 31, 2022, the Company recorded $49,500 in other accrued liabilities and $32,033 in other long-term liabilities in the consolidated balance sheets. At December 31, 2021, the Company recorded $68,665 in other accrued liabilities and $78,094 in other long-term liabilities in the consolidated balance sheets.

The following table provides a reconciliation of the activity for contingent consideration:

Beginning balance, January 1, 2022	$	146,759
Changes in fair value		(231	)
Payment of contingent consideration (1)		(63,800	)
Present value interest accretion		1,974
Currency translation		(3,169	)
Ending balance, December 31, 2022	$	81,533

(1) Includes payments of $16,135 in cash for the Off Grid acquisition, $47,123 in shares of common stock for the ecobee acquisition, and $542 in cash for the ecobee acquisition. The payment of common stock is accounted for as a non-cash item in the consolidated statement of cash flows.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. 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 consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Derivatives, Policy [Policy Text Block]

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 in the 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.

Share-Based Payment Arrangement [Policy Text Block]

Share-Based Compensation

Share-based compensation expense, including stock options and restricted stock awards, is generally recognized on a straight-line basis over the vesting period based on the fair value of awards which are expected to vest. The fair value of all share-based awards is estimated on the date of grant. Refer to Note 17, “Share Plans,” to the consolidated financial statements for further information on the Company’s share-based compensation plans and accounting.

Acquisition related costs

Acquisition related costs are external costs the Company incurs to affect a business combination including legal fees, professional and advisory services, transaction taxes such as stamp tax, and insurance premiums. The Company accounts for acquisition related costs as expense in the period in which the costs are incurred and the services are received. Total acquisition related costs were $1,459, $21,465, and $1,411 for the years ended December 31, 2022, 2021 and 2020, respectively.

New Accounting Pronouncements, Policy [Policy Text Block]

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 October 1, 2022, the Company elected to early adopt ASU 2022-04, Liabilities – Supplier Finance Program: Disclosure of Supplier Finance Program Obligations. This guidance was issued to enhance the transparency of supplier finance programs. The amendments in this update require that a buyer in a supplier finance program disclose sufficient information about the program to allow a user of financial statements to understand the program's nature, activity during the period, changes from period to period, and potential magnitude. The Company has one supplier finance program; however, the program magnitude is not material to the Company.

Note 12 - Credit Agreements (Tables)

12 Months Ended

Dec. 31, 2022

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

	*December 31,*
	*2022*			*2021*
Tranche A Term Loan	$	750,000		$	-
Tranche B Term Loan		530,000			780,000
Original issue discount and deferred financing costs		(16,568	)		(13,214	)
ABL facility		-			100,000
Revolver		90,000			-
Finance lease obligation		27,420			39,175
Other		966			2,060
Total		1,381,818			908,021
Less: current portion of debt		10,083			1,721
Less: current portion of finance lease obligation		2,650			4,209
Total	$	1,369,085		$	902,091

Schedule of Maturities of Long-Term Debt [Table Text Block]

	Tranche A Term Loan		Tranche B Term Loan		Revolver and Other		Total
2023	$	9,375	$	-	$	708	$	10,083
2024		28,125		-		53		28,178
2025		46,875		-		56		46,931
2026		65,625		530,000		86		595,711
2027		600,000		-		90,032		690,032
After 2027		-		-		31		31
Total	$	750,000	$	530,000	$	90,966	$	1,370,966

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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As reported (in dollars per share)

Note 3 - Acquisitions - Unaudited Pro Forma Information (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2022

Sep. 30, 2022

Jun. 30, 2022

Mar. 31, 2022

Dec. 31, 2021

Sep. 30, 2021

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Net sales

$ 1,049,232

$ 1,088,258

$ 1,291,391

$ 1,135,856

$ 1,067,071

$ 942,698

$ 919,981

$ 807,434

$ 4,564,737

$ 3,737,184

$ 2,485,200

As reported

$ 71,015

$ 58,270

$ 156,359

$ 113,858

$ 142,895

$ 131,570

$ 127,036

$ 148,993

$ 399,502

$ 550,494

$ 350,576

$ 0.83

$ 2.21

$ 1.57

$ 2.04

$ 1.93

$ 2.01

$ 2.33

$ 5.42

$ 8.30

$ 5.48

Pro Forma [Member]

Net sales

$ 4,593,485

$ 3,932,250

$ 2,764,363

As reported

^[1]

$ 402,670

$ 462,903

$ 267,376

As reported (in dollars per share)

$ 5.47

$ 6.94

$ 4.11

[1]	Includes additional intangible amortization from the effect of all acquisitions as though the transactions had occurred on January 1, 2019 of $63,524, $78,840, and $83,100 million for the years ended December 31, 2021, 2020, and 2019, respectively

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Note 1 - Description of Business

12 Months Ended

Dec. 31, 2022

Business Description and Basis of Presentation [Text Block]

1.	Description of Business

Founded in 1959, Generac Holdings Inc. (the Company) is a leading global designer and manufacturer of a wide range of energy technology solutions. The Company provides power generation equipment, energy storage systems, energy management devices & solutions, and other power products serving the residential, light commercial, and industrial markets. Generac’s power products and solutions are available globally through a broad network of independent dealers, distributors, retailers, e-commerce partners, wholesalers, and equipment rental companies, 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 (refer to Item 1 in this Annual Report on Form 10-K for discussion of our “Powering a Smarter World” strategic plan). A summary of acquisitions affecting the reporting periods presented include:

	●	In July 2020, the Company acquired West Coast Energy Systems LLC (Energy Systems), its industrial distributor in northern California. This addition enhances the Company's ability to serve the west coast markets for both commercial & industrial (C&I) and residential products.
	●	In September 2020, the Company acquired Mean Green Products, LLC (Mean Green), founded in 2009 and located in Ross, Ohio. Mean Green is a designer and manufacturer of commercial grade, battery-powered turf care products that provide quiet, zero emissions and reduced maintenance options as compared to traditional commercial mowers.
	●	In October 2020, the Company acquired Enbala Power Networks Inc. (Enbala), founded in 2003 and headquartered in Denver, Colorado. Enbala is one of the leading providers of distributed energy optimization and control software that helps support the operational stability of the world's power grids.
	●	In June 2021, the Company acquired Deep Sea Electronics Limited (Deep Sea), founded in 1975 and headquartered in Hunmanby, United Kingdom. Deep Sea is an industry leading designer and manufacturer of a diverse suite of flexible control solutions focused on the global power generation and transfer switch markets.
	●	In July 2021, the Company acquired Chilicon Power, LLC (Chilicon), a designer and provider of grid-interactive microinverter and monitoring solutions for the solar market. Based in Los Angeles, California, Chilicon's power inversion and monitoring system technologies maximize photovoltaic (solar power) system production, lower installer operational cost, and promote end-user satisfaction.
	●	In September 2021, the Company acquired Apricity Code Corporation (Apricity Code), an advanced engineering and product design company located in Bend, Oregon.
	●	In September 2021, the Company acquired Off Grid Energy Ltd (Off Grid Energy), a designer and manufacturer of industrial-grade mobile energy storage systems. Headquartered in Rugby, United Kingdom, Off Grid Energy offers a diverse range of energy storage solutions that provide cleaner and more flexible energy for industrial and mobile applications.
	●	In October 2021, the Company acquired Tank Utility, Inc. (Tank Utility). Headquartered in Boston, Massachusetts, Tank Utility is a provider of internet of things (IoT) propane tank monitoring that enables the optimization of propane fuel logistics.
	●	In December 2021, the Company acquired ecobee Inc. (ecobee), founded in 2007 and headquartered in Toronto, Canada. ecobee is a leader in sustainable home technology solutions including smart thermostats that deliver significant energy savings, security and peace of mind.
	●	In June 2022, the Company acquired Electronic Environments Co. LLC and related subsidiaries (collectively EEC). Headquartered in Marlborough, Massachusetts, EEC is an industrial generator distributor as well as a provider of data center and telecom facility design, build, maintenance, and repair services.
	●	In October 2022, the Company acquired BPAC, Inc. (Blue Pillar), an industrial IoT platform developer that designs, deploys, and manages industrial IoT network software solutions to enable distributed energy generation monitoring and control.

Note 15 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Deferred Income Tax Assets, Net	$ 12,746	$ 15,740
Deferred Income Tax Liabilities, Net	125,691	205,964
Vauation Allowances and Reserves Adjustments	3,236
Tax Credit Carryforward, Amount	238,371
Tax Credit Carryforward State Manufacturing	29,946
Unrecognized Tax Benefits, Interest on Income Taxes Expense	161	127
Unrecognized Tax Benefits, Income Tax Penalties Expense	$ 422	$ 357

Note 17 - Share Plans - Weighted-average Assumptions used in the Black-Scholes-Merton Option Pricing Model (Details) - Share-Based Payment Arrangement, Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Weighted average grant date fair value per share (in dollars per share)	$ 129.38	$ 129.47	$ 35.79
Expected stock price volatility	38.00%	37.00%	32.00%
Risk free interest rate	1.54%	0.45%	1.56%
Expected annual dividend per share (in dollars per share)	$ 0	$ 0	$ 0
Expected life of options (Year)	6 years 3 months	6 years 3 months	6 years 3 months

Note 10 - Leases (Details Textual)	12 Months Ended
Note 10 - Leases (Details Textual)	Dec. 31, 2022
Lessee, Operating Lease and Finance Lease, Remaining Term of Contract (Year)	20 years
Lessee, Operating Lease, Renewal Term (Year)	10 years

Note 20 - Valuation and Qualifying Accounts - Schedule of Valuation and Qualifying Accounts (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

SEC Schedule, 12-09, Allowance, Credit Loss [Member]

Beginning

$ 12,025

$ 12,001

$ 6,968

Additions Charged to Earnings

17,966

206

4,645

Allowance for credit losses

^[1]

1,147

Charges to Reserve, Net

^[2]

(2,825)

(1,640)

(957)

Reserves Assumed in Acquisition

498

1,458

198

Balance at End of Year

27,664

12,025

12,001

SEC Schedule, 12-09, Reserve, Inventory [Member]

Beginning

33,537

27,817

24,293

Additions Charged to Earnings

9,656

17,698

11,353

Allowance for credit losses

^[1]

Charges to Reserve, Net

^[2]

(4,737)

(15,749)

(8,788)

Reserves Assumed in Acquisition

1,258

3,771

959

Balance at End of Year

39,714

33,537

27,817

SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]

Beginning

7,874

5,740

5,024

Additions Charged to Earnings

649

1,404

716

Allowance for credit losses

^[1]

Charges to Reserve, Net

^[2]

(1,501)

(2,441)

Reserves Assumed in Acquisition

(2,384)

3,171

Balance at End of Year

$ 4,638

$ 7,874

$ 5,740

[1]	Result of adopting ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.
[2]	Deductions from the allowance for doubtful accounts equal accounts receivable written off against the allowance, less recoveries, as well as foreign currency translation adjustments. Deductions from the reserves for inventory excess and obsolete items equal inventory written off against the reserve as items were disposed of, as well as foreign currency translation adjustments.

Note 21 - Subsequent Events

12 Months Ended

Dec. 31, 2022

Subsequent Events [Text Block]

21.

Subsequent Events

On February 1, 2023 the Company acquired REFU Storage Systems (REFUstor), headquartered in Pfullingen, Germany. REFUstor is a developer and supplier of battery storage hardware products, advanced software, and platform services for the commercial and industrial market.

Note 11 - Product Warranty Obligations - Reconciliation of Product Warranty Liability (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Balance at beginning of period

$ 94,213

$ 59,218

$ 49,316

Product warranty reserve assumed in acquisition

3,932

124

Payments

(77,476)

(42,682)

(33,496)

Provision for warranty issued

80,340

69,280

42,093

Changes in estimates for pre-existing warranties (1)

^[1]

40,934

4,465

1,181

Balance at end of period

138,011

94,213

59,218

Balance at beginning of period

111,647

89,788

78,738

Deferred revenue contracts issued

42,869

41,560

26,968

Amortization of deferred revenue contracts

(21,703)

(19,701)

(15,918)

Balance at end of period

$ 132,813

$ 111,647

$ 89,788

[1]	Includes a specific warranty provision recorded during the third quarter of 2022 in the amount of $37,338 to address certain clean energy product related matters.

Note 2 - Summary of Accounting Policies - Reconciliation of Contingent Consideration (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Beginning balance, January 1, 2022

$ 146,759

Changes in fair value

(18,339)

$ (206)

$ (7,145)

Ending balance, December 31, 2022

81,533

146,759

Contingent Consideration Liability [Member]

Beginning balance, January 1, 2022

146,759

Changes in fair value

(231)

Payment of contingent consideration (1)

^[1]

(63,800)

Present value interest accretion

1,974

Currency translation

(3,169)

Ending balance, December 31, 2022

$ 81,533

$ 146,759

[1]	Includes payments of $16,135 in cash for the Off Grid acquisition, $47,123 in shares of common stock for the ecobee acquisition, and $542 in cash for the ecobee acquisition. The payment of common stock is accounted for as a non-cash item in the consolidated statement of cash flows.

Note 4 - Redeemable Noncontrolling Interest (Tables)

12 Months Ended

Dec. 31, 2022

Redeemable Noncontrolling Interest [Table Text Block]

	*Year Ended December 31,*
	*2022*			*2021*			*2020*
Balance at beginning of period	$	58,050		$	66,207		$	61,227
Share of net income (loss)		7,543			5,574			(2,829	)
Foreign currency translation		(3,982	)		(3,669	)		6,562
Purchase of additional ownership interest		(375	)		(27,164	)		-
Redemption value adjustment		49,235			17,102			1,247
Balance at end of period	$	110,471		$	58,050		$	66,207

Note 9 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Amortization of Intangible Assets	$ 103,320	$ 49,886	$ 32,280
Finite-Lived Intangible Asset, Expected Amortization, Year One	99,512
Finite-Lived Intangible Asset, Expected Amortization, Year Two	94,070
Finite-Lived Intangible Asset, Expected Amortization, Year Three	89,561
Finite-Lived Intangible Asset, Expected Amortization, Year Four	82,392
Finite-Lived Intangible Asset, Expected Amortization, Year Five	$ 56,162

Note 12 - Credit Agreements

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Text Block]

12.

Credit Agreements

Short-term borrowings included in the consolidated balance sheets as of December 31, 2022 and 2021 consisted of borrowings by the Company’s foreign subsidiaries on local lines of credit totaling $48,990 and $72,035, respectively.

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

	*December 31,*
	*2022*			*2021*
Tranche A Term Loan	$	750,000		$	-
Tranche B Term Loan		530,000			780,000
Original issue discount and deferred financing costs		(16,568	)		(13,214	)
ABL facility		-			100,000
Revolver		90,000			-
Finance lease obligation		27,420			39,175
Other		966			2,060
Total		1,381,818			908,021
Less: current portion of debt		10,083			1,721
Less: current portion of finance lease obligation		2,650			4,209
Total	$	1,369,085		$	902,091

Maturities of long-term borrowings outstanding at December 31, 2022, excluding finance lease obligations as their maturities are disclosed in Note 10, “Leases,” and before considering original issue discount and deferred financing costs, are as follows:

	Tranche A Term Loan		Tranche B Term Loan		Revolver and Other		Total
2023	$	9,375	$	-	$	708	$	10,083
2024		28,125		-		53		28,178
2025		46,875		-		56		46,931
2026		65,625		530,000		86		595,711
2027		600,000		-		90,032		690,032
After 2027		-		-		31		31
Total	$	750,000	$	530,000	$	90,966	$	1,370,966

The Tranche B Term Loan Facility matures on December 13, 2026, while the Tranche A Term Loan Facility and Revolving Facility mature on June 29, 2027. The Tranche A Term Loan Facility principal is repayable in quarterly installments beginning in September 2023.

The Company’s credit agreements originally provided for a $1,200,000 term loan B credit facility (Tranche B Term Loan Facility) and included a $300,000 uncommitted incremental term loan on that facility. The maturity date of the Tranche B Term Loan Facility is December 13, 2026. The Tranche B Term Loan Facility initially bore interest at rates based on 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%. After a number of amendments, as listed below, the Tranche B Term Loan Facility currently bears interest at rates based on either a base rate plus an applicable margin of 0.75% or adjusted Secured Overnight Financing Rate (SOFR) rate plus an applicable margin of 1.75%, subject to a SOFR floor of 0.00%. The interest rate for the Tranche B Term Loan Facility as of December 31, 2022 was 5.97%.

The Tranche B Term Loan Facility does not require an Excess Cash Flow payment if the Company’s net secured leverage ratio is maintained below 3.75 to 1.00 times. As of December 31, 2022, the Company’s net secured leverage ratio was 1.55 to 1.00 times, and the Company was in compliance with all covenants of the Tranche B Term Loan Facility. There are no financial maintenance covenants on the Tranche B Term Loan Facility.

The Company’s credit agreements also originally provided for a senior secured ABL revolving credit facility (ABL Facility). ABL Facility borrowings initially bore interest at rates based on 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 on average availability under the ABL Facility.

In May 2021, the Company amended the ABL Facility, increasing its borrowing limit from $300,000 to $500,000, raising its incremental capacity from $100,000 to $200,000, and extending the maturity date from June 12, 2023 to May 27, 2026 (Amended ABL Facility). In addition, the Amended ABL Facility modified the pricing by reducing certain applicable interest rates to either a base rate plus an applicable margin of 0.00% to 0.25% or adjusted LIBOR rate plus an applicable margin of 1.00% to 1.25%, in each case, based on average availability under the Amended ABL Facility. In connection with this amendment, the Company capitalized $920 of new debt issuance costs as deferred financing costs on long-term borrowings in the second quarter of 2021. At the same time, the Company also amended its Tranche B Term Loan Facility agreement to reflect the same amendments made to the ABL Facility.

In May 2021, the Company borrowed $50,000 under the Amended ABL Facility, the proceeds of which were used as a voluntary prepayment of the Tranche B Term Loan Facility. As a result of this prepayment of the Tranche B Term Loan Facility, the Company wrote off $831 of original issue discount and capitalized debt issuance costs during the second quarter of 2021 as a loss on extinguishment of debt in the consolidated statements of comprehensive income.

In June 2022, the Company again amended and restated its existing credit agreements (Amended Credit Agreement) resulting in a new term loan facility in an aggregate principal amount of $750,000 (Tranche A Term Loan Facility), established a new revolving facility in an aggregate principal amount of $1,250,000 (Revolving Facility), terminated the ABL Facility, and replaced all LIBOR provisions to the existing Tranche B Term Loan Facility with SOFR provisions. The maturity date of the Tranche A Term Loan Facility and the Revolving Facility is June 29, 2027. Proceeds received by the Company from the Tranche A Term Loan Facility were used to repay the total existing outstanding balance on the Company's former ABL Facility, make a $250,000 voluntary prepayment on the Tranche B Term Loan Facility, with the remaining funds to be used for future general corporate purposes. As a result of these prepayments, the Company wrote off $3,546 of original issue discount and capitalized debt issuance costs during the second quarter of 2022 as a loss on extinguishment of debt in the consolidated statements of comprehensive income. The Revolving Facility was unfunded at closing.

The Tranche A Term Loan Facility and the Revolving Facility initially bear interest at a rate based on adjusted SOFR plus an applicable margin of 1.5% through December 31, 2022, subject to a SOFR floor of 0.0%. Beginning on January 1, 2023, the Tranche A Term Loan Facility and the Revolving Facility will bear interest at a rate based on adjusted SOFR plus an applicable margin between 1.25% and 1.75%, based on the Company's total leverage ratio and subject to a SOFR floor of 0.0%. The interest rate for the Tranche A Term Loan Facility as of December 31, 2022 was 5.72%.

The Tranche A Term Loan Facility and the Revolving Facility added certain financial covenants that require the Company to maintain a total leverage ratio below 3.75 to 1.00 as well as an interest coverage ratio above 3.00 to 1.00. As of December 31, 2022, the Company’s total leverage ratio was 1.74 to 1.00 times, and the Company's interest coverage ratio was 14.81 to 1.00. The Company was in compliance with all other covenants of the Amended Credit Agreement as of December 31, 2022.

The Tranche B Term Loan Facility, Tranche A Term Loan Facility and Revolving Facility are guaranteed by substantially all of the Company’s wholly-owned domestic restricted subsidiaries and are secured by associated collateral agreements which pledge a first priority lien on virtually all of the Company’s assets, including fixed assets and intangibles, cash, trade accounts receivable, inventory, and other current assets and proceeds thereof.

In connection with the June 2022 refinancing and in accordance with ASC 470-50, the Company capitalized $10,330 of fees paid to creditors as deferred financing costs on long-term borrowings and expensed $800 of transaction fees. The Company evaluated on a lender-by-lender basis if the debt related to returning lenders on the Revolving Facility was significantly modified or not, resulting in the write-off of $197 in unamortized deferred financing costs related to the former ABL Facility as a loss on extinguishment of debt in the consolidated statements of comprehensive income.

As of December 31, 2022, there was $90,000 outstanding under the Revolving Facility, leaving $1,158,725 of availability, net of outstanding letters of credit.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 132,723	$ 147,339
Accounts receivable, less allowance for credit losses of $27,664 and $12,025 at December 31, 2022 and 2021, respectively	522,458	546,466
Inventories	1,405,384	1,089,705
Prepaid expenses and other assets	121,783	64,954
Total current assets	2,182,348	1,848,464
Property and equipment, net	467,604	440,852
Customer lists, net	206,987	238,722
Patents and technology, net	454,757	492,473
Other intangible assets, net	41,719	66,436
Tradenames, net	227,251	243,531
Goodwill	1,400,880	1,409,674
Deferred income taxes	12,746	15,740
Operating lease and other assets	175,170	121,888
Total assets	5,169,462	4,877,780
Current liabilities:
Short-term borrowings	48,990	72,035
Accounts payable	446,050	674,208
Accrued wages and employee benefits	45,741	72,060
Accrued product warranty	89,141	59,052
Other accrued liabilities	349,389	272,622
Current portion of long-term borrowings and finance lease obligations	12,733	5,930
Total current liabilities	992,044	1,155,907
Long-term borrowings and finance lease obligations	1,369,085	902,091
Deferred income taxes	125,691	205,964
Operating lease and other long-term liabilities	312,916	341,681
Total liabilities	2,799,736	2,605,643
Redeemable noncontrolling interest	110,471	58,050
Stockholders’ equity:
Common stock, par value $0.01, 500,000,000 shares authorized, 72,701,257 and 72,386,017 shares issued at December 31, 2022 and 2021, respectively	728	725
Additional paid-in capital	1,016,138	952,939
Treasury stock, at cost, 11,284,350 and 8,667,031 shares at December 31, 2022 and 2021, respectively	(808,491)	(448,976)
Excess purchase price over predecessor basis	(202,116)	(202,116)
Retained earnings	2,316,224	1,965,957
Accumulated other comprehensive loss	(65,102)	(54,755)
Stockholders’ equity attributable to Generac Holdings Inc.	2,257,381	2,213,774
Noncontrolling interests	1,874	313
Total stockholders’ equity	2,259,255	2,214,087
Total liabilities and stockholders’ equity	$ 5,169,462	$ 4,877,780

Note 8 - Balance Sheet Details - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Raw material	$ 798,340	$ 727,162
Work-in-process	14,899	10,756
Finished goods	592,145	351,787
Total	$ 1,405,384	$ 1,089,705

Note 10 - Leases - Weighted Average Remaining Lease Term and Discount Rate Information (Details)	Dec. 31, 2022	Dec. 31, 2021
Operating Leases (Year)	4 years 7 months 24 days	5 years 2 months 15 days
Finance Leases (Year)	11 years 3 months 3 days	11 years 11 months 8 days
Operating Leases	4.82%	3.58%
Finance Leases	7.58%	7.43%

Note 3 - Acquisitions (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Consideration Transferred for Business Acquisitions [Table Text Block]

Cash paid at closing	$	11,821
Deferred cash payment (1)		6,000
Common stock issued at closing		12,000
Contingent consideration (2)		31,308
Total purchase price	$	61,129

Cash paid at closing	$	225,403
Common stock issued at closing		420,774
Contingent consideration (1)		89,400
Total purchase price	$	735,577

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

	2022 Acquisitions		2021 Acquisitions								2020 Acquisitions
			Deep Sea		ecobee		All Other		Total
Accounts receivable	$	12,656	$	9,574	$	23,337	$	13,852	$	46,763	$	5,094
Inventories		3,138		9,970		7,258		7,034		24,262		3,575
Prepaid expenses and other current assets		4,707		1,181		5,689		6,594		13,464		858
Property and equipment		708		8,838		3,588		480		12,906		635
Intangible assets		8,711		174,270		557,900		81,171		813,341		26,235
Goodwill		6,870		263,604		248,231		83,859		595,694		40,395
Deferred income taxes		-		-		40,020		5,694		45,714		-
Other assets		1,953		151		9,289		8,526		17,966		1,122
Total assets acquired		38,743		467,588		895,312		207,210		1,570,110		77,914

Accounts payable		1,479		8,998		25,968		7,473		42,439		4,088
Accrued wages and employee benefits		1,429		2,106		1,354		872		4,332		700
Other accrued liabilities		7,934		1,737		19,898		18,258		39,893		2,151
Short-term borrowings		-		-		-		800		800		-
Current portion of long-term borrowings and finance lease obligations		-		-		-		233		233		-
Deferred income taxes		1,090		33,957		78,753		19,930		132,640		3,827
Other long-term liabilities		1,157		90		33,762		9,997		43,849		2,208
Long-term debt		-		-		-		1,624		1,624		-
Net assets acquired	$	25,654	$	420,700	$	735,577	$	148,023	$	1,304,300	$	64,940

Business Acquisition, Pro Forma Information, Nonrecurring Adjustments [Table Text Block]

	*Year Ended December 31,*
	*2022*		*2021*		*2020*
Net Sales:
As reported	$	4,564,737	$	3,737,184	$	2,485,200
Pro forma		4,593,485		3,932,250		2,764,363

Net income attributable to Generac Holdings Inc.:
As reported	$	399,502	$	550,494	$	350,576
Pro forma (1)		402,670		462,903		267,376

Net income attributable to Generac Holdings Inc. per common share - diluted
As reported	$	5.42	$	8.30	$	5.48
Pro forma		5.47		6.94		4.11

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

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Total adjusted EBITDA

$ 825,367

$ 861,425

$ 583,773

Interest expense

(54,826)

(32,953)

(32,991)

Depreciation and amortization

(156,141)

(92,041)

(68,773)

Non-cash write-down and other adjustments

^[1]

2,091

3,070

327

Non-cash share-based compensation expense

^[2]

(29,481)

(23,954)

(20,882)

Loss on extinguishment of debt

^[3]

(3,743)

(831)

Transaction costs and credit facility fees

^[4]

(5,026)

(22,357)

(2,151)

Business optimization and other charges

^[5]

(4,371)

(33)

(12,158)

Provision for regulatory and clean energy product charges (6)

^[6]

(65,265)

Other

(139)

(800)

(954)

Income before provision for income taxes

508,466

691,526

446,191

Assets

5,169,462

4,877,780

3,235,423

Depreciation and Amortization

156,141

92,041

68,773

Capital expenditures

86,188

109,992

62,128

Domestic [Member]

Total adjusted EBITDA

716,302

795,417

563,394

Assets

4,032,086

3,742,101

2,659,597

Depreciation and Amortization

123,768

66,675

53,020

Capital expenditures

69,680

100,672

51,867

International [Member]

Total adjusted EBITDA

109,065

66,008

20,379

Assets

1,137,376

1,135,679

575,826

Depreciation and Amortization

32,373

25,366

15,753

Capital expenditures

$ 16,508

$ 9,320

$ 10,261

[1]	Includes gains/losses on disposals of assets and sales of certain investments, unrealized mark-to-market adjustments on commodity contracts, certain foreign currency related adjustments, and certain purchase accounting and contingent consideration adjustments.
[2]	Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods.
[3]	Represents the non-cash write-off of original issue discount and deferred financing costs due primarily to a voluntary prepayment of debt.
[4]	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.
[5]	For the year-ended December 31, 2022, predominantly represents severance and other restructuring charges related to the suspension of operations at certain of our facilities. For the year-ended December 31, 2020, represents severance, non-cash asset write-downs and other charges to address the impact of the COVID-19 pandemic and decline in oil prices on demand for C&I products. These charges represent expenses that are nonrecurring and do not reflect our ongoing operations.
[6]	Represents a specific credit loss provision of $17,926 for a clean energy product customer that filed for bankruptcy, as well as a warranty provision of $37,338 to address certain clean energy product warranty-related matters and a provision of $10,000 for a specific and unresolved regulatory matter with the Consumer Product Safety Commission.

Note 2 - Summary of Accounting Policies - Property and Equipment Estimated Useful Lives (Details)	12 Months Ended
	Dec. 31, 2022
Land Improvements [Member] \| Minimum [Member]
Property and equipment, estimated useful lives (Year)	8 years
Land Improvements [Member] \| Maximum [Member]
Property and equipment, estimated useful lives (Year)	20 years
Building and Building Improvements [Member] \| Minimum [Member]
Property and equipment, estimated useful lives (Year)	10 years
Building and Building Improvements [Member] \| Maximum [Member]
Property and equipment, estimated useful lives (Year)	40 years
Machinery and Equipment [Member] \| Minimum [Member]
Property and equipment, estimated useful lives (Year)	3 years
Machinery and Equipment [Member] \| Maximum [Member]
Property and equipment, estimated useful lives (Year)	15 years
Dies and Tools [Member] \| Minimum [Member]
Property and equipment, estimated useful lives (Year)	3 years
Dies and Tools [Member] \| Maximum [Member]
Property and equipment, estimated useful lives (Year)	10 years
Vehicles [Member] \| Minimum [Member]
Property and equipment, estimated useful lives (Year)	3 years
Vehicles [Member] \| Maximum [Member]
Property and equipment, estimated useful lives (Year)	6 years
Office Equipment [Member] \| Minimum [Member]
Property and equipment, estimated useful lives (Year)	3 years
Office Equipment [Member] \| Maximum [Member]
Property and equipment, estimated useful lives (Year)	15 years
Leasehold Improvements [Member] \| Minimum [Member]
Property and equipment, estimated useful lives (Year)	2 years
Leasehold Improvements [Member] \| Maximum [Member]
Property and equipment, estimated useful lives (Year)	20 years

Note 13 - Stock Repurchase Programs

12 Months Ended

Dec. 31, 2022

Treasury Stock [Text Block]

13.

Stock Repurchase Programs

In September 2020, the Company’s Board of Directors approved a stock repurchase program, which commenced on October 27, 2020, and allowed for the repurchase of up to $250,000 of the Company's common stock over a 24-month period. That program was exhausted in the third quarter of 2022. In July 2022, the Company's Board of Directors approved another stock repurchase program, which commenced on August 5, 2022, and allows for the repurchase of up to $500,000 of the Company's common stock over a 24-month period. Pursuant to the approved program, 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 credit agreements. 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. During the year ended December 31, 2022, the Company repurchased 2,722,007 shares of its common stock for $345,840. During the year ended December 31, 2021, the Company repurchased 350,000 shares of its common stock for $125,992. During the year ended December 31, 2020, the Company did not repurchase any shares of its common stock. Since the inception of all stock repurchase programs (starting in August 2015), we have repurchased 11,748,713 shares of our common stock for $777,379 (at an average cost per share of $66.17).

Note 17 - Share Plans (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	Year Ended December 31,
	2022			2021			2020
Weighted average grant date fair value per share	$	129.38		$	129.47		$	35.79

Assumptions:
Expected stock price volatility		38	%		37	%		32	%
Risk free interest rate		1.54	%		0.45	%		1.56	%
Expected annual dividend per share	$	-		$	-		$	-
Expected life of options (years)		6.25			6.25			6.25

Share-Based Payment Arrangement, Option, Activity [Table Text Block]

	*Number of Options*			*Weighted-Average Exercise Price*		*Weighted-Average Remaining Contractual Term (in years)*		*Aggregate Intrinsic Value ($ in thousands)*
Outstanding as of December 31, 2019		1,592,686		$	42.04		6.9	$	93,242
Granted		173,650			102.32
Exercised		(216,196	)		39.88
Forfeited		(21,450	)		50.25
Outstanding as of December 31, 2020		1,528,690			49.08		6.3	$	272,553

Granted		70,392			335.70
Exercised		(229,921	)		45.95
Forfeited		(27,030	)		63.27
Outstanding as of December 31, 2021		1,342,131			64.29		5.5	$	386,069

Granted		109,266			282.20
Exercised		(137,305	)		36.91
Forfeited		(45,688	)		194.05
Outstanding as of December 31, 2022		1,268,404			81.35		4.9	$	47,764

Exercisable as of December 31, 2022		982,934			50.86		4.1	$	44,904

Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]

	*Shares*			*Weighted-Average Grant-Date Fair Value*
Non-vested as of December 31, 2019		491,637		$	52.84
Granted		183,868			95.14
Vested		(200,390	)		45.10
Forfeited		(18,921	)		56.58
Non-vested as of December 31, 2020		456,194			68.42

Granted		126,339			223.09
Vested		(202,327	)		58.99
Forfeited		(14,241	)		138.64
Non-vested as of December 31, 2021		365,965			124.25

Granted		287,821			214.58
Vested		(234,284	)		83.52
Forfeited		(41,204	)		263.47
Non-vested as of December 31, 2022		378,298			203.04

Note 11 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties 2 (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Revenue performance obligation	$ 132,813
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue performance obligation	30,291
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue performance obligation	24,472
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue performance obligation	22,120
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue performance obligation	17,803
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue performance obligation	$ 38,127

Note 20 - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

20.

Valuation and Qualifying Accounts

For the years ended December 31, 2022, 2021 and 2020:

	*Balance at Beginning of Year*		*Additions Charged to Earnings*		*Additions Charged to Retained Earnings (1)*		*Charges to Reserve, Net (2)*			*Reserves Established for Acquisitions*			*Balance at End of Year*
Year ended December 31, 2022
Allowance for credit losses	$	12,025	$	17,966	$	-	$	(2,825	)	$	498		$	27,664
Reserves for inventory		33,537		9,656		-		(4,737	)		1,258			39,714
Valuation of deferred tax assets		7,874		649		-		(1,501	)		(2,384	)		4,638

Year ended December 31, 2021
Allowance for credit losses	$	12,001	$	206	$	-	$	(1,640	)	$	1,458		$	12,025
Reserves for inventory		27,817		17,698		-		(15,749	)		3,771			33,537
Valuation of deferred tax assets		5,740		1,404		-		(2,441	)		3,171			7,874

Year ended December 31, 2020
Allowance for credit losses	$	6,968	$	4,645	$	1,147	$	(957	)	$	198		$	12,001
Reserves for inventory		24,293		11,353		-		(8,788	)		959			27,817
Valuation of deferred tax assets		5,024		716		-		-			-			5,740

	(1)	Result of adopting ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.
	(2)	Deductions from the allowance for doubtful accounts equal accounts receivable written off against the allowance, less recoveries, as well as foreign currency translation adjustments. Deductions from the reserves for inventory excess and obsolete items equal inventory written off against the reserve as items were disposed of, as well as foreign currency translation adjustments.

Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Net sales

$ 4,564,737

$ 3,737,184

$ 2,485,200

Costs of goods sold

3,042,733

2,377,102

1,527,546

Gross profit

1,522,004

1,360,082

957,654

Operating expenses:

Selling and service

496,260

319,020

246,373

Research and development

159,774

104,303

80,251

General and administrative

194,861

144,272

118,233

Acquisition related costs

1,459

21,465

1,411

Amortization of intangibles

103,320

49,886

32,280

Total operating expenses

955,674

638,946

478,548

Income from operations

566,330

721,136

479,106

Other (expense) income:

Interest expense

(54,826)

(32,953)

(32,991)

Investment income

1,129

1,415

2,182

Loss on extinguishment of debt

^[1]

(3,743)

(831)

Other, net

(424)

2,759

(2,106)

Total other expense, net

(57,864)

(29,610)

(32,915)

Income before provision for income taxes

508,466

691,526

446,191

Provision for income taxes

99,596

134,957

98,973

Net income

408,870

556,569

347,218

Net income attributable to noncontrolling interests

9,368

6,075

(3,358)

Net income attributable to Generac Holdings Inc.

399,502

550,494

350,576

Other comprehensive income (loss):

Foreign currency translation adjustment

(48,841)

(41,030)

4,948

Net unrealized gain (loss) on derivatives

38,494

20,529

(14,285)

Other comprehensive income (loss)

(10,347)

(20,501)

(9,337)

Total comprehensive income

398,523

536,068

337,881

Comprehensive income (loss) attributable to noncontrolling interests

11,179

5,496

(364)

Comprehensive income attributable to Generac Holdings Inc.

$ 387,344

$ 530,572

$ 338,245

Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share)

$ 5.55

$ 8.51

$ 5.61

Weighted average common shares outstanding - basic: (in shares)

63,117,007

62,686,001

62,280,889

Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share)

$ 5.42

$ 8.30

$ 5.48

Weighted average common shares outstanding - diluted: (in shares)

64,681,357

64,253,408

63,737,734

[1]	Represents the non-cash write-off of original issue discount and deferred financing costs due primarily to a voluntary prepayment of debt.

Note 8 - Balance Sheet Details - Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property and equipment, gross	$ 750,422	$ 674,551
Accumulated depreciation	(282,818)	(233,699)
Total	467,604	440,852
Land and Land Improvements [Member]
Property and equipment, gross	22,589	26,137
Building and Building Improvements [Member]
Property and equipment, gross	243,553	244,273
Machinery and Equipment [Member]
Property and equipment, gross	229,593	186,611
Dies and Tools [Member]
Property and equipment, gross	37,343	31,581
Vehicles [Member]
Property and equipment, gross	9,807	7,621
Office Equipment [Member]
Property and equipment, gross	148,166	125,048
Leasehold Improvements [Member]
Property and equipment, gross	6,849	5,679
Construction in Progress [Member]
Property and equipment, gross	$ 52,522	$ 47,601

Note 3 - Acquisitions (Details Textual) - USD ($) $ in Thousands						1 Months Ended	3 Months Ended				12 Months Ended
	Dec. 01, 2021	Sep. 01, 2021	Jul. 02, 2021	Jun. 01, 2021	Oct. 07, 2020	Dec. 31, 2021	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Sep. 30, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Payments to Acquire Businesses, Net of Cash Acquired, Total											$ 25,065	$ 713,471	$ 64,797
Goodwill, Ending Balance						$ 1,409,674		$ 1,400,880			1,400,880	1,409,674	855,228
Business Combination, Contingent Consideration, Liability, Total						146,759		81,533			81,533	146,759
Payment for Contingent Consideration Liability, Financing Activities											16,135	3,750	4,000
EEC and Blue Pillar [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total											25,654
Acquisition of Deep Sea [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total				$ 420,700
Business Acquisition, Purchase Price Allocation, Intangible Assets Including Goodwill				437,874
Goodwill, Ending Balance				$ 263,604		263,604						263,604
Acquisition of Chilicon [Member]
Business Acquisition, Purchase Price Allocation, Intangible Assets Including Goodwill			$ 70,174
Goodwill, Ending Balance			36,974
Business Combination, Consideration Transferred, Total			$ 61,129
Acquisition of Off Grid Energy [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total		$ 56,949
Business Acquisition, Purchase Price Allocation, Intangible Assets Including Goodwill		56,076
Goodwill, Ending Balance		21,531
Business Combination, Contingent Consideration, Liability, Total		$ 29,054
Payment for Contingent Consideration Liability, Financing Activities									$ 16,135		16,135
ecobee Inc. [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total						735,577
Business Acquisition, Purchase Price Allocation, Intangible Assets Including Goodwill	$ 806,131
Goodwill, Ending Balance	248,231					$ 248,231						248,231
Business Combination, Consideration Transferred, Total	$ 735,577
Payment for Contingent Consideration Liability, Financing Activities								542			542
Contingent Consideration, Share Payments, Value								$ 47,123			47,123
Contingent Consideration, Share Payment, Shares (in shares)								196,531
ecobee Inc. [Member] \| Forecast [Member]
Contingent Consideration, Share Payments, Value							$ 45,000
Contingent Consideration, Share Payment, Shares (in shares)							466,188
Other 2021 Acquisitions [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total												29,945
Acquisition of Enbala [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total					$ 41,982
Business Acquisition, Purchase Price Allocation, Intangible Assets Including Goodwill					46,338
Goodwill, Ending Balance					$ 27,038
Other 2020 Acquisitions [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total										$ 22,958
All Acquisitions [Member]
Proforma Amortization of Intangible Assets											$ 941,000	$ 68,247,000	$ 84,151,000

Note 14 - Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2022