0001437749-24-033337 | 10-Q | XBRL Viewer

Income Tax Disclosure [Text Block]

14. Income Taxes

The effective income tax rates for the nine months ended September 30, 2024 and 2023 were24.6% and 26.4%, respectively. The decrease in effective tax rate was primarily driven by certain unfavorable discrete tax items in the prior-year comparable period which did not repeat in the current year.

The entire disclosure for income tax.

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Note 9 - Product Warranty Obligations - Deferred Product Obligations (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Current portion - accrued product warranty	$ 60,377		$ 65,298
Long-term portion - other long-term liabilities	47,065		51,110
Total	107,442	$ 106,279	116,408	$ 119,561	$ 122,222	$ 138,011
Current portion - other accrued liabilities	32,797		28,203
Long-term portion - deferred revenue	146,497		127,667
Total	$ 179,294	$ 171,702	$ 155,870	$ 145,123	$ 140,922	$ 132,813

Note 2 - Acquisitions (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Payments to Acquire Businesses, Net of Cash Acquired	$ 21,784	$ 15,974
Ageto, C&I BESS, and Huntington [Member]
Payments to Acquire Businesses, Net of Cash Acquired	$ 30,449

Note 15 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	Oct. 05, 2023	May 03, 2023	Aug. 01, 2022	Sep. 30, 2024	Mar. 31, 2024	Dec. 31, 2023
Amount Financed by Dealers				$ 146,366		$ 158,028
Consumer Product Safety Commission [Member]
Settlement Agreement, Civil Fine Payments		$ 15,800
Power Home Solar, LLC Against Generac Power Systems, Inc. [Member] \| Minimum [Member]
Loss Contingency, Damages Sought, Value			$ 25,000
Case No. 22-cv-00072-JRG [Member]
Litigation Settlement, Amount Awarded to Other Party	$ 11,500
Case No. 22-cv-00072-JRG [Member] \| Estimated Prejudgment Interest [Member]
Loss Contingency Accrual					$ 1,826

Note 11 - Credit Agreements

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Text Block]

11. Credit Agreements

Short-term borrowings included in the condensed consolidated balance sheets as of September 30, 2024, and December 31, 2023, consisted of borrowings by the Company’s foreign subsidiaries on local lines of credit totaling $65,540 and $81,769, respectively.

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

	*September 30,*			*December 31,*
	*2024*			*2023*
Tranche A Term Loan Facility	$	721,875		$	745,313
Tranche B Term Loan Facility		500,000			530,000
Original issue discount and capitalized debt fees		(8,853	)		(12,685	)
Revolving Facility		150,000			150,000
Finance lease obligation		90,622			71,308
Other		6,169			9,512
Total		1,459,813			1,493,448
Less: current portion of debt		53,193			42,110
Less: current portion of finance lease obligation		45,983			3,785
Total long-term borrowings and finance lease obligations	$	1,360,637		$	1,447,553

The Tranche A Term Loan Facility and Revolving Facility mature on June 29, 2027. The Tranche A Term Loan Facility is repayable in installments maturing at the end of each quarter commencing September 2023, with a balloon payment due June 2027. The Tranche B Term Loan Facility matures on July 3, 2031, and is repayable in installments maturing at the end of each quarter commencing September 2024, with a balloon payment due July 2031. Maturities of the Company's Tranche A Term Loan Facility, Tranche B Term Loan Facility, and Revolving Facility outstanding on September 30, 2024, are as follows:

	*Tranche A Term Loan Facility*		*Tranche B Term Loan Facility*		*Revolving Facility*		*Total*
2024	$	9,375	$	2,500	$	-	$	11,875
2025		46,875		5,000		-		51,875
2026		65,625		5,000		-		70,625
2027		600,000		5,000		150,000		755,000
2028		-		5,000		-		5,000
2029		-		5,000		-		5,000
2030		-		5,000		-		5,000
2031		-		467,500		-		467,500
Total	$	721,875	$	500,000	$	150,000	$	1,371,875

The Company’s credit agreements originally provided for a $1,200,000 Tranche B Term Loan Facility (“original Term Loan B Facility”) and included a $300,000 uncommitted incremental term loan on that facility. After several amendments, the original Term Loan B Facility bore interest at rates based on either a base rate plus an applicable margin of 0.75% or adjusted SOFR rate plus an applicable margin of 1.75%, subject to a SOFR floor of 0.0%, and was scheduled to mature on December 13, 2026.

In July 2024, the Company extinguished the $530,000 balance then outstanding under the former Tranche B Term Loan Facility and replaced it with a new $500,000 Tranche B Term Loan Facility maturing on July 3, 2031. The new Tranche B Term Loan Facility continues to include a $300,000 uncommitted incremental term loan on that facility. In accordance with ASC 470-50, the Company capitalized $2,991 of debt issuance costs. Additionally, the Company wrote-off the unamortized deferred financing costs related to the former Tranche B Term Loan Facility of $4,236 and expensed $625 of fees paid to creditors as a loss on extinguishment of debt. The new Tranche B Term Loan Facility bears interest at the adjusted SOFR rate plus an applicable margin of 1.75%, subject to a SOFR floor of 0.0%, resulting in a 6.95% combined rate as of September 30, 2024.

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. As of September 30, 2024, the Company’s net secured leverage ratio was 1.70 to 1.00, 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.

In June 2022, the Company amended and restated its existing credit agreements ("Amended Credit Agreement") resulting in a new term loan A facility in an aggregate principal amount of $750,000 ("Tranche A Term Loan Facility"), established a new $1,250,000 Revolving Facility, and replaced all LIBOR provisions with SOFR provisions. The Tranche A Term Loan Facility and the Revolving Facility initially bore 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 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%, resulting in a 6.93% combined interest rate for the Tranche A Term Loan Facility and Revolving Facility as of September 30, 2024.

The Tranche A Term Loan Facility and the Revolving Facility contain 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 September 30, 2024, the Company’s total leverage ratio was 1.79 to 1.00, and the Company's interest coverage ratio was 8.69 to 1.00. The Company was also in compliance with all other covenants of the Amended Credit Agreement as of September 30, 2024.

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.

As of September 30, 2024, there was $150,000 outstanding under the Revolving Facility, leaving $1,099,203 of unused capacity, net of outstanding letters of credit.

See Note 5, "Derivative Instruments and Hedging Activities" and Item 7A of the Annual Report on Form 10-K for further information on interest rate swaps that are currently outstanding and partially offset the above interest expense on outstanding borrowings.

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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Note 6 - Accumulated Other Comprehensive Loss (Details Textual) - Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Comprehensive Income (Loss), before Reclassifications, before Tax	$ (13,577)	$ 1,394	$ (13,241)	$ 3,081
Other Comprehensive Income (Loss) before Reclassifications, Tax	$ 3,400	$ (349)	$ (3,316)	$ (772)

Note 16 - Subsequent Events (Details Textual) € in Millions	Oct. 01, 2024 EUR (€)
Subsequent Event [Member]
Payments to Acquire Businesses, Gross	€ 35

Note 7 - Segment Reporting

9 Months Ended

Sep. 30, 2024

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 and all historical acquisitions based in the U.S. and Canada, all of which have revenues substantially derived from the U.S. and Canada. The international segment includes all historical 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. While Residential products and Commercial & Industrial ("C&I") products include similar products, they differ based on power output and end customer. The composition of net sales between residential, C&I, and other products & services by reportable segment is as follows:

	*Net Sales by Reportable Segment*
	*Three Months Ended September 30, 2024*
Product Classes	*Domestic*		*International*		*Total*
Residential products	$	701,781	$	21,006	$	722,787
Commercial & industrial products		199,339		128,617		327,956
Other		110,227		12,593		122,820
Total net sales	$	1,011,347	$	162,216	$	1,173,563

	*Net Sales by Reportable Segment*
	*Three Months Ended September 30, 2023*
Product Classes	*Domestic*		*International*		*Total*
Residential products	$	539,775	$	25,312	$	565,087
Commercial & industrial products		238,212		146,321		384,533
Other		108,378		12,669		121,047
Total net sales	$	886,365	$	184,302	$	1,070,667

	*Net Sales by Reportable Segment*
	*Nine Months Ended September 30, 2024*
Product Classes	*Domestic*		*International*		*Total*
Residential products	$	1,629,100	$	61,036	$	1,690,136
Commercial & industrial products		606,147		419,948		1,026,095
Other		305,995		38,807		344,802
Total net sales	$	2,541,242	$	519,791	$	3,061,033

	*Net Sales by Reportable Segment*
	*Nine Months Ended September 30, 2023*
Product Classes	*Domestic*		*International*		*Total*
Residential products	$	1,389,112	$	93,426	$	1,482,538
Commercial & industrial products		700,941		430,935		1,131,876
Other		305,239		39,344		344,583
Total net sales	$	2,395,292	$	563,705	$	2,958,997

Residential products consist primarily of automatic home standby generators ranging in output from 7.5kW to 150kW, portable generators, residential 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 the Company's distribution partners, who in turn sell the product to the end consumer, including installation and maintenance services. In some cases, residential products are sold directly 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, C&I battery energy storage systems, mobile heaters, mobile pumps, and related controls for power generation equipment. These products are sold globally through industrial distributors and dealers, Engineering, Procurement, and Construction ("EPC") companies, equipment rental companies, and equipment distributors. The C&I products revenue consists of the sale of the product to the Company's distribution partners, who in turn sell the product to the end customer, including installation and maintenance services. In some cases, C&I products are sold directly 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 the Company's distribution partners, 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 table sets forth total sales by reportable segment and is inclusive of intersegment sales:

	*Three Months Ended September 30, 2024*									*Three Months Ended September 30, 2023*
	*Domestic*		*International*		*Eliminations*			*Total*		*Domestic*		*International*		*Eliminations*			*Total*
External net sales	$	1,011,347	$	162,216	$	-		$	1,173,563	$	886,365	$	184,302	$	-		$	1,070,667
Intersegment sales		8,853		4,485		(13,338	)		-		7,640		23,293		(30,933	)		-
Total sales	$	1,020,200	$	166,701	$	(13,338	)	$	1,173,563	$	894,005	$	207,595	$	(30,933	)	$	1,070,667

	*Nine Months Ended September 30, 2024*									*Nine Months Ended September 30, 2023*
	*Domestic*		*International*		*Eliminations*			*Total*		*Domestic*		*International*		*Eliminations*			*Total*
External net sales	$	2,541,242	$	519,791	$	-		$	3,061,033	$	2,395,292	$	563,705	$	-		$	2,958,997
Intersegment sales		26,571		18,127		(44,698	)		-		33,960		84,078		(118,038	)		-
Total sales	$	2,567,813	$	537,918	$	(44,698	)	$	3,061,033	$	2,429,252	$	647,783	$	(118,038	)	$	2,958,997

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 by Reportable Segment*
	*Three Months Ended September 30,*						*Nine Months Ended September 30,*
	*2024*			*2023*			*2024*			*2023*
Domestic	$	211,567		$	160,270		$	450,416		$	331,134
International		20,298			28,332			73,371			94,088
Total Adjusted EBITDA	$	231,865		$	188,602		$	523,787		$	425,222

Interest expense		(22,910	)		(24,707	)		(69,833	)		(72,862	)
Depreciation and amortization		(43,152	)		(42,951	)		(127,934	)		(124,149	)
Non-cash write-down and other adjustments (1)		(468	)		(2,055	)		(2,863	)		5,257
Non-cash share-based compensation expense (2)		(13,115	)		(9,927	)		(38,270	)		(30,306	)
Transaction costs and credit facility fees (3)		(1,337	)		(921	)		(4,029	)		(3,161	)
Business optimization and other charges (4)		(1,564	)		(5,291	)		(3,190	)		(8,151	)
Provision for legal, regulatory, and clean energy product charges (5)		(2,382	)		(22,113	)		(5,280	)		(27,913	)
Change in fair value of investment (6)		5,198			-			(2,938	)		-
Loss on extinguishment of debt (7)		(4,861	)		-			(4,861	)		-
Other		(43	)		(575	)		(156	)		(443	)
Income before provision for income taxes	$	147,231		$	80,062		$	264,433		$	163,494

(1)

Includes gains/(losses) on dispositions of assets other than in the ordinary course of business, gains/(losses) on 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 transaction costs incurred directly in connection with any investment, as defined in the Company's credit agreement, equity issuance or debt issuance or refinancing, together with certain fees relating to the Company's senior secured credit facilities, such as administrative agent fees and credit facility commitment fees under the Company's Amended Credit Agreement.
	(4)	Represents severance and other restructuring charges related to the consolidation of certain operating facilities and organizational functions.
	(5)	Represents the following significant and unusual charges not indicative of our ongoing operations: • A provision for judgments, settlements, and legal expenses related to certain patent and securities lawsuits - $2,382 in the third quarter of 2024; $4,915 year-to-date 2024; and $22,113 in the third quarter of 2023. • Additional customer support costs related to a clean energy product customer that filed for bankruptcy in 2022 – $365 in the first quarter of 2024. • A provision for a matter with the Consumer Product Safety Commission ("CPSC") concerning the imposition of civil fines for allegedly failing to timely submit a report under the Consumer Product Safety Act ("CPSA") in relation to certain portable generators that were subject to a voluntary recall previously announced on July 29, 2021 - $5,800 in the first quarter of 2023.
	(6)	Represents non-cash gains/(losses) from changes in the fair value of the Company's investment in Wallbox warrants and equity securities.
	(7)	Represents fees paid to creditors and the write-off of the unamortized original issue discount and deferred financing costs in connection with the refinancing of the Company's Tranche B Term Loan Facility.

The Company’s sales in the U.S. represented approximately 83% and 79% of total sales for the three months ended September 30, 2024 and 2023, respectively. The Company’s sales in the U.S. represented approximately 79% and 77% of total sales for the nine months ended September 30, 2024 and 2023, respectively. Approximately 75% and 74% of the Company’s identifiable long-lived assets were located in the U.S. on September 30, 2024, and December 31, 2023, respectively.

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

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Note 9 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties 2 (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Revenue performance obligation	$ 179,294
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue performance obligation	7,902
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue performance obligation	33,387
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue performance obligation	33,804
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue performance obligation	29,451
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue performance obligation	23,149
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01
Revenue performance obligation	$ 51,601

Note 8 - Balance Sheet Details (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Inventory, Current [Table Text Block]

	*September 30,*		*December 31,*
	*2024*		*2023*
Raw material	$	644,971	$	677,428
Work-in-process		9,402		10,877
Finished goods		441,385		479,179
Total	$	1,095,758	$	1,167,484

Property, Plant and Equipment [Table Text Block]

	*September 30,*			*December 31,*
	*2024*			*2023*
Land and improvements	$	24,801		$	22,556
Buildings and improvements		330,765			298,483
Machinery and equipment		294,434			271,879
Dies and tools		47,896			45,998
Vehicles		13,558			11,411
Office & information technology equipment and internal use software		210,482			185,601
Leasehold improvements		9,617			8,772
Construction in progress		87,068			98,083
Gross property and equipment		1,018,621			942,783
Accumulated depreciation		(378,888	)		(344,206	)
Total	$	639,733		$	598,577

Note 5 - Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

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

Beginning balance, January 1, 2024	$	38,937
Changes in fair value		-
Additional contingent consideration		5,911
Present value interest accretion		559
Ending balance, September 30, 2024	$	45,407

Note 2 - Acquisitions

9 Months Ended

Sep. 30, 2024

Business Combination Disclosure [Text Block]

2. Acquisitions

Fiscal 2024 Acquisitions

On August 1, 2024, the Company acquired the assets and liabilities of Ageto. Ageto designs and integrates microgrid energy and control management systems and is headquartered in Fort Collins, Colorado.

On June 26, 2024, the Company closed on the acquisition of the C&I BESS product offering from SunGrid Solutions Inc. located in Cambridge, Canada.

On April 1, 2024, the Company acquired Huntington, headquartered in Shelton, Connecticut. Huntington is an industrial and residential generator distributor as well as a provider of maintenance and repair services.

The combined preliminary purchase price for these acquisitions is $30,449, net of cash acquired and inclusive of holdbacks and estimated contingent consideration. The Company recorded its preliminary purchase price allocation based on its estimates of the fair value of the acquired assets and assumed liabilities. Purchase accounting for C&I BESS and Huntington will be finalized prior to June 30, 2025, while purchase accounting for Ageto will be finalized prior to September 30, 2025. There have not been any material changes to the preliminary purchase price allocation for Ageto, C&I BESS, or Huntington as of September 30, 2024.

The accompanying condensed consolidated financial statements include the results of Ageto, C&I BESS, and Huntington from their dates of acquisition through September 30, 2024. Pro forma and other financial information are not presented as the effects of these acquisitions are not material to the Company's results of operations or financial position.

Fiscal 2023 Acquisitions

On February 1, 2023, the Company acquired REFUstor, headquartered in Pfullingen, Germany. REFUstor is a developer and supplier of battery storage hardware products, advanced software, and platform services for the C&I energy storage market.

The Company recorded its preliminary purchase price allocation for REFUstor during the first quarter of 2023, based on its estimates of the fair value of the acquired assets and assumed liabilities. Purchase accounting for REFUstor was finalized in the first quarter of 2024 and did not result in material adjustments to the Company's preliminary estimates. The final purchase price is not material to the Company's condensed consolidated financial statements. The accompanying condensed consolidated financial statements include the results of REFUstor from the date of acquisition through September 30, 2024. Pro forma and other financial information are not presented as the effects of the REFUstor acquisition are not material to the Company's results of operations or financial position.

Note 7 - Segment Reporting - Net Sales by Products and Services (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net sales	$ 1,173,563	$ 1,070,667	$ 3,061,033	$ 2,958,997
Residential Power Products [Member]
Net sales	722,787	565,087	1,690,136	1,482,538
Commercial and Industrial Power Products [Member]
Net sales	327,956	384,533	1,026,095	1,131,876
Other Products and Services [Member]
Net sales	122,820	121,047	344,802	344,583
Domestic [Member]
Net sales	1,011,347	886,365	2,541,242	2,395,292
Domestic [Member] \| Residential Power Products [Member]
Net sales	701,781	539,775	1,629,100	1,389,112
Domestic [Member] \| Commercial and Industrial Power Products [Member]
Net sales	199,339	238,212	606,147	700,941
Domestic [Member] \| Other Products and Services [Member]
Net sales	110,227	108,378	305,995	305,239
International [Member]
Net sales	162,216	184,302	519,791	563,705
International [Member] \| Residential Power Products [Member]
Net sales	21,006	25,312	61,036	93,426
International [Member] \| Commercial and Industrial Power Products [Member]
Net sales	128,617	146,321	419,948	430,935
International [Member] \| Other Products and Services [Member]
Net sales	$ 12,593	$ 12,669	$ 38,807	$ 39,344

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

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Note 13 - Earnings Per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
Note 13 - Earnings Per Share (Details Textual) - shares	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	430,000	370,000	440,000	344,000

Note 3 - Redeemable Noncontrolling Interest (Details Textual) - USD ($) shares in Thousands, $ in Thousands				1 Months Ended		9 Months Ended
	Apr. 05, 2024	Mar. 08, 2023	Feb. 01, 2019	Mar. 31, 2022	May 31, 2021	Sep. 30, 2024	Sep. 30, 2023	May 31, 2022	Mar. 01, 2016
Payments for Repurchase of Redeemable Noncontrolling Interest						$ 9,117	$ 104,844
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%
Pramac [Member]
Business Acquisition, Percentage of Voting Interests Acquired					15.00%				65.00%
Redeemable Noncontrolling Interest, Equity, Fair Value, Total									$ 34,253
Payments for Repurchase of Redeemable Noncontrolling Interest		$ 116,754			$ 27,164
Business Combination, Step Acquisition, Equity Interest in Acquiree, including Subsequent Acquisition, Percentage, Total		100.00%			80.00%
Business Combination, Consideration Transferred		$ 105,264
Payments to Acquire Businesses, Gross		104,844
Gain (Loss), Foreign Currency Transaction, before Tax		420
Business Combination, Consideration Transferred, Liabilities Incurred		$ 11,490
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)		135,205
Captiva Energy Solutions [Member]
Business Acquisition, Percentage of Voting Interests Acquired	34.00%		51.00%	15.00%
Redeemable Noncontrolling Interest, Equity, Fair Value, Total			$ 3,165
Payments for Repurchase of Redeemable Noncontrolling Interest	$ 9,117			$ 375
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

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

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

$ 2,372,519

$ 2,421,756

$ 2,343,070

$ 2,259,255

Accumulated Foreign Currency Adjustment Attributable to Parent [Member]

2,412,462

2,366,487

2,412,462

2,366,487

(72,220)

(53,923)

(43,582)

(101,545)

25,719

^[1]

(2,919)

^[2]

(46,501)

(80,366)

(46,501)

(80,366)

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

(26,443)

^[3]

21,179

^[4]

28,691

37,707

28,439

36,443

(10,177)

^[5]

(9,925)

^[6]

18,514

38,752

18,514

38,752

AOCI Attributable to Parent [Member]

1,045

^[7]

2,309

^[8]

(43,529)

(16,216)

(15,143)

(65,102)

15,542

(12,844)

$ (27,987)

(41,614)

$ (27,987)

(41,614)

$ (25,398)

$ 23,488

[1]	Represents favorable impact from the weakening of the U.S. dollar against foreign currencies during the three months ended September 30, 2024, particularly the Euro and British Pound.
[2]	Represents a slightly unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the nine months ended September 30, 2024, particularly the Euro.
[3]	Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the three months ended September 30, 2023, particularly the Euro, British Pound, and Mexican Peso.
[4]	Represents favorable impact from the weakening of the U.S. dollar against foreign currencies during the nine months ended September 30, 2023, particularly the Euro, British Pound, and Mexican Peso.
[5]	Represents unrealized losses of $(13,577) on the interest rate swaps, net of tax effect of $3,400, for the three months ended September 30, 2024.
[6]	Represents unrealized losses of $(13,241) on the interest rate swaps, net of tax effect of $(3,316) for the nine months ended September 30, 2024.
[7]	Represents unrealized gains of $1,394 on the interest rate swaps, net of tax effect of $(349) for the three months ended September 30, 2023.
[8]	Represents unrealized gains of $3,081 on the interest rate swaps, net of tax effect of $(772) for the nine months ended September 30, 2023.

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

+ References + Details

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

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Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

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Note 6 - Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2024

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

	*Foreign Currency Translation Adjustments*				*Unrealized Gain (Loss) on Cash Flow Hedges*				*Total*
Beginning Balance – July 1, 2024	$	(72,220	)		$	28,691			$	(43,529	)
Other comprehensive income (loss)		25,719		(1)		(10,177	)	(2)		15,542
Ending Balance – September 30, 2024	$	(46,501	)		$	18,514			$	(27,987	)

	*Foreign Currency Translation Adjustments*				*Unrealized Gain (Loss) on Cash Flow Hedges*			*Total*
Beginning Balance – July 1, 2023	$	(53,923	)		$	37,707		$	(16,216	)
Other comprehensive income (loss)		(26,443	)	(3)		1,045	(4)		(25,398	)
Ending Balance – September 30, 2023	$	(80,366	)		$	38,752		$	(41,614	)

	*Foreign Currency Translation Adjustments*				*Unrealized Gain (Loss) on Cash Flow Hedges*				*Total*
Beginning Balance – January 1, 2024	$	(43,582	)		$	28,439			$	(15,143	)
Other comprehensive income (loss)	(2,919		)	(5)	(9,925		)	(6)		(12,844	)
Ending Balance – September 30, 2024	$	(46,501	)		$	18,514			$	(27,987	)

	*Foreign Currency Translation Adjustments*				*Unrealized Gain (Loss) on Cash Flow Hedges*			*Total*
Beginning Balance – January 1, 2023	$	(101,545	)		$	36,443		$	(65,102	)
Other comprehensive income (loss)		21,179		(7)		2,309	(8)		23,488
Ending Balance – September 30, 2023	$	(80,366	)		$	38,752		$	(41,614	)

Note 5 - Fair Value Measurements

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Text Block]

5. Fair Value Measurements

ASC 820-10, Fair Value Measurement, defines fair value, establishes a consistent framework for measuring fair value, and expands disclosure for each major asset and liability category measured at fair value on either a recurring basis or nonrecurring basis. ASC 820-10 clarifies that fair value is an exit price, representing the amount that would be received in the sale of an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the pronouncement establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than 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 ("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 Tranche B Term Loan borrowing, which has a net carrying value of $497,097, was $500,000 (Level 2) on September 30, 2024. The fair value of the Tranche A Term Loan borrowing, which has a net carrying value of $719,893, was $707,438 (Level 2) on September 30, 2024. These fair values were calculated based on independent valuations which contain inputs and significant value drivers that are observable. The fair value of the Revolving Facility approximates the carrying value.

For the fair value of the derivatives measured on a recurring basis, refer to the fair value table in Note 4, “Derivative Instruments and Hedging Activities,” to the condensed consolidated financial statements. The fair value of the Company's interest rate swaps and commodity and foreign currency derivative contracts are classified as Level 2. The valuation techniques used to measure the fair value of these 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 the derivative contracts discussed above considers the Company’s credit risk in accordance with ASC 820-10.

The fair value of the Wallbox stock warrants is classified as Level 3. The fair value of these contracts is measured using a Black Scholes option pricing model, with significant inputs derived from or corroborated by observable market data as well as internal estimates, specifically the time period until exercise. The warrants received in the third quarter of 2024 and fourth quarter of 2023 expire at the earlier of when the price per share equals or exceeds $6.00 or in 2028 and 2029, respectively. The time period until exercise assumption has a significant impact on the fair value of the warrants.

Equity Securities

Equity securities consist of Wallbox Shares. During the third quarter of 2024, the Company invested an incremental $35,000 in additional Wallbox Shares, increasing its ownership interest to 38,096,057 Wallbox Shares as of September 30, 2024. The Wallbox Shares are classified as Level 1 in the fair value hierarchy and are recognized at fair value using the closing price of Wallbox common stock quoted on the New York Stock Exchange ("NYSE") on the last trading day of the quarter. The Wallbox Shares are included in operating lease and other assets in the condensed consolidated balance sheets. The fair value of the Wallbox Shares was $46,477 and $17,213 as of September 30, 2024, and December 31, 2023, respectively. Gains and losses attributable to the Wallbox Shares are recognized in other expense, net in the condensed consolidated statements of comprehensive income. The loss recognized on the Wallbox Shares was $(1,408) and $(3,277) for the three and nine months ended September 30, 2024, respectively.

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 of contingent consideration for Chilicon Power LLC ("Chilicon"), Pramac, and Ageto as of September 30, 2024, and for Chilicon and Pramac as of December 31, 2023, was $45,407 and $38,937, respectively. The contingent consideration period for Chilicon extends through December 31, 2028, while the contingent consideration period for Pramac extends through December 31, 2025. The contingent consideration for Ageto can be earned in equal increments with one third of the contingent consideration capable of being earned as of August 1, 2025, August 1, 2026, and August 1, 2027. The current portion of contingent consideration is reported in other accrued liabilities and the non-current portion is reported in other long-term liabilities in the condensed consolidated balance sheets.

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

Beginning balance, January 1, 2024	$	38,937
Changes in fair value		-
Additional contingent consideration		5,911
Present value interest accretion		559
Ending balance, September 30, 2024	$	45,407

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

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Note 9 - Product Warranty Obligations (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Product Warranty Liability [Table Text Block]

	*Three Months Ended September 30,*						*Nine Months Ended September 30,*
	*2024*			*2023*			*2024*			*2023*
Balance at beginning of period	$	106,279		$	122,222		$	116,408		$	138,011
Payments		(23,050	)		(24,427	)		(65,130	)		(76,069	)
Provision for warranty issued		22,755			18,136			54,804			51,353
Changes in estimates for pre-existing warranties		1,458			3,630			1,360			6,266
Balance at end of period	$	107,442		$	119,561		$	107,442		$	119,561

	*Three Months Ended September 30,*						*Nine Months Ended September 30,*
	*2024*			*2023*			*2024*			*2023*
Balance at beginning of period	$	171,702		$	140,922		$	155,870		$	132,813
Deferred revenue contracts issued		15,169			10,615			45,042			30,774
Amortization of deferred revenue contracts		(7,577	)		(6,414	)		(21,618	)		(18,464	)
Balance at end of period	$	179,294		$	145,123		$	179,294		$	145,123

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

Remainder of 2024	$	7,902
2025		33,387
2026		33,804
2027		29,451
2028		23,149
After 2028		51,601
Total	$	179,294

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

	*September 30,*		*December 31,*
	*2024*		*2023*
Product warranty liability
Current portion - accrued product warranty	$	60,377	$	65,298
Long-term portion - other long-term liabilities		47,065		51,110
Total	$	107,442	$	116,408

Deferred revenue related to extended warranties
Current portion - other accrued liabilities	$	32,797	$	28,203
Long-term portion - deferred revenue		146,497		127,667
Total	$	179,294	$	155,870

Note 8 - Balance Sheet Details - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Raw material	$ 644,971	$ 677,428
Work-in-process	9,402	10,877
Finished goods	441,385	479,179
Total	$ 1,095,758	$ 1,167,484

Note 11 - Credit Agreements - Maturities of Long-term Borrowings Outstanding (Details) $ in Thousands	Sep. 30, 2024 USD ($)
2024	$ 11,875
2025	51,875
2026	70,625
2027	755,000
2028	5,000
2029	5,000
2030	5,000
2031	467,500
Total	1,371,875
Tranche A Term Loan Facility [Member]
2024	9,375
2025	46,875
2026	65,625
2027	600,000
2028	0
2029	0
2030	0
2031	0
Total	721,875
Tranche B Term Loan Facility [Member]
2024	2,500
2025	5,000
2026	5,000
2027	5,000
2028	5,000
2029	5,000
2030	5,000
2031	467,500
Total	500,000
ABL Revolving Credit Facility [Member]
2024	0
2025	0
2026	0
2027	150,000
2028	0
2029	0
2030	0
2031	0
Total	$ 150,000

Note 15 - Commitments and Contingencies

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Text Block]

15. 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 on September 30, 2024, and December 31, 2023, was $146,366 and $158,028, respectively.

On August 1, 2022, Power Home Solar, LLC d/b/a Pink Energy ("PHS") 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 PHS allegedly incurred. The Company disputes the allegations in the complaint, including that PHS can seek consequential damages or amounts greater than the $25,000 liability cap set forth in the agreement between the parties. Generac Power moved to dismiss the complaint and compel arbitration consistent with the parties’ agreement. PHS later filed a Chapter 7 bankruptcy petition in the Western District of North Carolina that identified Generac Power as one of its outstanding creditors. The parties agreed to toll PHS’s deadline to respond to the motion to dismiss and all other pretrial deadlines to allow the bankruptcy trustee to evaluate the complaint. The Trustee has not yet taken further action in this lawsuit. Generac Power intends to vigorously defend against the claims in the complaint, in whichever forum they may proceed.

On October 28, 2022, Daniel Haak filed a putative consumer 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. Additional putative class actions were filed by consumers raising similar claims and allegations in other district court cases. These putative class actions have been consolidated into a Multidistrict Litigation, In re: Generac Solar Power Systems Marketing, Sales Practices and Products Liability Litigation currently pending in the Eastern District of Wisconsin, Case No. 23-md-3078. Generac Power and the Company filed their answer to the consolidated master complaint after the court denied the motion to dismiss on May 24, 2024. Generac Power and the Company intend to vigorously defend against the consolidated master complaint.

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. The court subsequently consolidated a later filed action and appointed a lead plaintiff. The lead plaintiff filed a consolidated complaint alleging violation of federal securities law related to disclosures of quality issues in Generac Power’s clean energy product, accounting for warranty reserves, reliance on channel partners, and demand for home standby generators (the “Oakland County Lawsuit”). The Company moved to dismiss the consolidated complaint on October 9, 2023. The Company disputes the allegations in the operative consolidated complaint and intends to vigorously defend against the claims in the consolidated class action.

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 has received several additional derivative actions filed in both state and federal courts raising similar claims and allegations, including issues raised in the Oakland County Lawsuit. The Company disputes the allegations in the shareholder derivative actions and intends to vigorously defend against the claims in the complaints.

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. Environmental Protection Agency ("EPA") and the California Air Resource Board ("CARB") in response to civil document requests related to the Company’s compliance with emissions regulations for approximately 1,850 (not in thousands) portable generators produced by the Company in 2019 and 2020 and sold in 2020. On October 2, 2024, the Company received additional information from the EPA that could increase the number of portable generators under review by the EPA by approximately 4,850 (not in thousands) if certain emissions certifications for 2020 are voided. The Company is cooperating with the DOJ, EPA and CARB regarding these topics and related requests.

On November 30, 2022, the CPSC notified the Company of its intention to recommend the imposition of a civil penalty for failing to timely submit a report to the CPSC in relation to certain portable generators that were subject to a voluntary recall previously announced on July 29, 2021. On May 3, 2023, the parties entered into a mutual settlement agreement. The agreement does not constitute an admission by Generac or a determination by the CPSC that Generac violated the CPSA. The terms of the settlement agreement require the Company to (i) abide by certain customary agency requirements regarding the ongoing commitment to the Company’s internal CPSA compliance practices and program, and (ii) pay a civil fine of $15,800. On July 21, 2023, Generac Power received a grand jury subpoena from the U.S. Attorney for the Eastern District of Wisconsin, as a result of which the Company became aware of a continuing inquiry by the DOJ related to its statutory obligations under the CPSA in connection with this matter. Additionally, on October 23, 2023, the CPSC notified the Company that it is further investigating whether the Company complied with the reporting requirements to the CPSC in relation to certain portable generators that were subject to a voluntary recall previously announced on September 14, 2023. The Company is cooperating fully with both the CPSC and DOJ investigations and, at this time, is unable to predict the eventual scope, duration or final outcome of such investigations.

On March 8, 2022, Ollnova Technologies Limited, a non-practicing entity, filed a patent infringement lawsuit against ecobee Inc. ("ecobee") in the United States District Court for the Eastern District of Texas (Case No. 22-cv-00072-JRG). Ollnova claimed that ecobee infringes on four of its patents. Following an October 5, 2023 jury verdict finding one of Ollnova’s patents invalid and that ecobee infringed at least one of the claims of the asserted patents, on March 1, 2024, the trial court entered judgment against ecobee for $11,500, as well as an award of prejudgment and post-judgment interest. In the first quarter of 2024, the Company recorded an additional reserve of $1,826 for estimated prejudgment interest. ecobee has appealed the trial court’s judgment to the Court of Appeals for the Federal Circuit and that appeal is currently pending.

On June 9, 2023, Spartronics Vietnam, Inc., a contract manufacturer of Generac Power’s clean energy products, filed multiple lawsuits against Generac Power and sub-suppliers accusing Generac Power of fraud, breaching its supply agreement with Spartronics, tortiously interfering with Spartronics’ relationships with its sub-suppliers, and requesting a determination of rights under the parties’ agreements in state and federal court. Spartronics subsequently filed additional third-party complaints against Generac Power raising similar claims and allegations. After a court granted Generac Power’s motion to compel arbitration, Spartronics filed a demand for arbitration of its claims. Generac Power denies the allegations in the complaints, including that Generac Power is responsible for Spartronic's purchasing practices, and is pursuing a counterclaim in connection with the arbitration.

On November 21, 2023, Christopher Walling filed a putative securities class action lawsuit against the Company and certain of its officers in the Western District of Wisconsin and was later appointed lead plaintiff. The complaint asserts claims for alleged violation of federal securities law related to statements concerning the Company’s financial outlook and the impact of macroeconomic trends on the demand for its products. The plaintiff seeks to represent a class of individuals who purchased or otherwise acquired common stock between May 3, 2023, and August 3, 2023, and seeks unspecified compensatory damages and other relief on behalf of a purported class of purchasers of the Company’s stock (the “Walling Lawsuit”). The Company moved to dismiss the amended complaint on June 21, 2024, and intends to vigorously defend against the claims in the amended complaint.

On February 14, 2024, a purported Company shareholder filed a 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 (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, including as to the claims raised in the Walling Lawsuit. The complaint seeks unspecified damages on behalf of the Company and certain other relief, including certain corporate governance reforms. The Company disputes the allegations in the shareholder derivative action and intends to vigorously defend against the claims in the complaint.

On October 18, 2024, two individuals filed a putative consumer class action lawsuit against Generac Power and the Company in the Middle District of Florida. Case No. 24-cv-02412. The complaint alleges that home standby generators manufactured or sold to consumers from 2021-2024 contain a latent defect that may cause the generator to malfunction. Plaintiffs assert breaches of warranty, tort-based, statutory, and unjust enrichment claims relating to the sale and performance of home standby generators. The Company disputes the allegations and intends to vigorously defend against the claims in the complaint, including that the case should not proceed as a class action.

It is presently unlikely that any legal, regulatory or other 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.

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounts receivable, allowance for doubtful accounts	$ 34,489	$ 33,925
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)	73,646,420	73,195,055
Treasury stock, shares (in shares)	14,149,513	13,057,298

Note 9 - Product Warranty Obligations - Reconciliation of Product Warranty Liability (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Balance at beginning of period

$ 106,279

$ 122,222

$ 116,408

$ 138,011

Payments

(23,050)

(24,427)

(65,130)

(76,069)

Provision for warranty issued

22,755

18,136

54,804

51,353

Changes in estimates for pre-existing warranties

^[1]

1,458

3,630

1,360

6,266

Balance at end of period

107,442

119,561

107,442

119,561

Balance at beginning of period

171,702

140,922

155,870

132,813

Deferred revenue contracts issued

15,169

10,615

45,042

30,774

Amortization of deferred revenue contracts

(7,577)

(6,414)

(21,618)

(18,464)

Balance at end of period

$ 179,294

$ 145,123

$ 179,294

$ 145,123

[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.

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net sales	$ 1,173,563	$ 1,070,667	$ 3,061,033	$ 2,958,997
Costs of goods sold	701,294	694,880	1,896,824	1,982,290
Gross profit	472,269	375,787	1,164,209	976,707
Operating expenses:
Selling and service	145,310	117,929	382,049	334,360
Research and development	56,936	43,312	160,342	129,074
General and administrative	77,242	83,052	209,392	199,108
Amortization of intangibles	24,157	26,718	73,698	78,934
Total operating expenses	303,645	271,011	825,481	741,476
Income from operations	168,624	104,776	338,728	235,231
Other (expense) income:
Interest expense	(22,910)	(24,707)	(69,833)	(72,862)
Investment income	1,757	1,160	5,286	2,789
Change in fair value of investment	5,198	0	(2,938)	0
Loss on extinguishment of debt	(4,861)	0	(4,861)	0
Other, net	(577)	(1,167)	(1,949)	(1,664)
Total other expense, net	(21,393)	(24,714)	(74,295)	(71,737)
Income before provision for income taxes	147,231	80,062	264,433	163,494
Provision for income taxes	33,453	19,428	65,124	43,184
Net income	113,778	60,634	199,309	120,310
Net income attributable to noncontrolling interests	36	257	220	2,305
Net income attributable to Generac Holdings Inc.	$ 113,742	$ 60,377	$ 199,089	$ 118,005
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share)	$ 1.91	$ 0.98	$ 3.29	$ 1.74
Weighted average common shares outstanding - basic: (in shares)	59,493,640	61,368,440	59,720,597	61,552,949
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share)	$ 1.89	$ 0.97	$ 3.25	$ 1.72
Weighted average common shares outstanding - diluted: (in shares)	60,312,393	62,091,163	60,475,478	62,362,743
Comprehensive income attributable to Generac Holdings Inc.	$ 129,284	$ 37,041	$ 186,245	$ 141,463

Note 8 - Balance Sheet Details (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	$ 84,766	$ 68,079

Note 11 - Credit Agreements (Tables)

9 Months Ended

Sep. 30, 2024

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

	*September 30,*			*December 31,*
	*2024*			*2023*
Tranche A Term Loan Facility	$	721,875		$	745,313
Tranche B Term Loan Facility		500,000			530,000
Original issue discount and capitalized debt fees		(8,853	)		(12,685	)
Revolving Facility		150,000			150,000
Finance lease obligation		90,622			71,308
Other		6,169			9,512
Total		1,459,813			1,493,448
Less: current portion of debt		53,193			42,110
Less: current portion of finance lease obligation		45,983			3,785
Total long-term borrowings and finance lease obligations	$	1,360,637		$	1,447,553

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

	*Tranche A Term Loan Facility*		*Tranche B Term Loan Facility*		*Revolving Facility*		*Total*
2024	$	9,375	$	2,500	$	-	$	11,875
2025		46,875		5,000		-		51,875
2026		65,625		5,000		-		70,625
2027		600,000		5,000		150,000		755,000
2028		-		5,000		-		5,000
2029		-		5,000		-		5,000
2030		-		5,000		-		5,000
2031		-		467,500		-		467,500
Total	$	721,875	$	500,000	$	150,000	$	1,371,875

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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-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

Note 14 - Income Taxes (Details Textual)	9 Months Ended
Note 14 - Income Taxes (Details Textual)	Sep. 30, 2024	Sep. 30, 2023
Effective Income Tax Rate Reconciliation, Percent	24.60%	26.40%

Note 4 - Derivative Instruments and Hedging Activities (Details Textual) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2017
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	$ (10,177)		$ 1,045	$ (9,925)	$ 2,309
Derivative Assets (Liabilities), Net Fair Value of Derivative Contracts, Excluding Impact of Credit Risk	$ 25,930	$ 39,796		$ 25,930
Wallbox N.V. [Member]
Payments to Acquire Investments		$ 30,000
Investment Owned, Net Assets, Percentage		5.00%
Wallbox N.V. [Member] \| Option to Purchase Additional Interest [Member]
Investment Owned, Net Assets, Percentage		5.00%
Commodity Contract [Member]
Derivative, Number of Instruments Held, Total	0			0
Interest Rate Swap [Member]
Number of New Contracts Entered	3					20
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	$ (10,177)		$ 1,045	$ (9,925)	$ 2,309
Stock Warrants [Member] \| Wallbox N.V. [Member]
Unrealized Gain (Loss) on Derivatives	$ 6,606			$ 339

Note 9 - Product Warranty Obligations (Details Textual)	9 Months Ended
Note 9 - Product Warranty Obligations (Details Textual)	Sep. 30, 2024
Minimum [Member]
Extended Warranty Term (Year)	5 years
Maximum [Member]
Extended Warranty Term (Year)	10 years

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2024	Nov. 01, 2024
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	Q3
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		59,497,259

Note 13 - Earnings Per Share

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Text Block]

13. 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 outstanding stock options, as well as the satisfaction of certain contingent acquisition consideration conditions as of the end of the period. Refer to Note 3, “Redeemable Noncontrolling Interest,” to the condensed consolidated financial statements for further information regarding the accounting for redeemable noncontrolling interests within earnings per share.

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

	*Three Months Ended September 30,*					*Nine Months Ended September 30,*
	*2024*		*2023*			*2024*			*2023*
Numerator
Net income attributable to Generac Holdings Inc.	$	113,742	$	60,377		$	199,089		$	118,005
Redeemable noncontrolling interest redemption value adjustment		-		(46	)		(2,686	)		(10,883	)
Net income attributable to common shareholders	$	113,742	$	60,331		$	196,403		$	107,122

Denominator
Weighted average shares, basic		59,493,640		61,368,440			59,720,597			61,552,949
Dilutive effect of stock compensation awards (1)		818,753		722,723			754,881			809,794
Weighted average shares, dilutive		60,312,393		62,091,163			60,475,478			62,362,743

Net income attributable to common shareholders per share
Basic	$	1.91	$	0.98		$	3.29		$	1.74
Diluted	$	1.89	$	0.97		$	3.25		$	1.72

(1) Excludes approximately 430,000 and 440,000 stock options and restricted stock awards for the three months and nine months ended September 30, 2024, respectively, and 370,000 and 344,000 stock options and restricted stock awards for the three months and nine months ended September 30, 2023, respectively, because they would be anti-dilutive.

Note 9 - Product Warranty Obligations

9 Months Ended

Sep. 30, 2024

Product Warranty Disclosure [Text Block]

9. 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:

	*Three Months Ended September 30,*						*Nine Months Ended September 30,*
	*2024*			*2023*			*2024*			*2023*
Balance at beginning of period	$	106,279		$	122,222		$	116,408		$	138,011
Payments		(23,050	)		(24,427	)		(65,130	)		(76,069	)
Provision for warranty issued		22,755			18,136			54,804			51,353
Changes in estimates for pre-existing warranties		1,458			3,630			1,360			6,266
Balance at end of period	$	107,442		$	119,561		$	107,442		$	119,561

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:

	*Three Months Ended September 30,*						*Nine Months Ended September 30,*
	*2024*			*2023*			*2024*			*2023*
Balance at beginning of period	$	171,702		$	140,922		$	155,870		$	132,813
Deferred revenue contracts issued		15,169			10,615			45,042			30,774
Amortization of deferred revenue contracts		(7,577	)		(6,414	)		(21,618	)		(18,464	)
Balance at end of period	$	179,294		$	145,123		$	179,294		$	145,123

The timing of recognition of the Company’s deferred revenue balance related to extended warranties as of September 30, 2024 is as follows:

Remainder of 2024	$	7,902
2025		33,387
2026		33,804
2027		29,451
2028		23,149
After 2028		51,601
Total	$	179,294

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

	*September 30,*		*December 31,*
	*2024*		*2023*
Product warranty liability
Current portion - accrued product warranty	$	60,377	$	65,298
Long-term portion - other long-term liabilities		47,065		51,110
Total	$	107,442	$	116,408

Deferred revenue related to extended warranties
Current portion - other accrued liabilities	$	32,797	$	28,203
Long-term portion - deferred revenue		146,497		127,667
Total	$	179,294	$	155,870

Note 16 - Subsequent Events

9 Months Ended

Sep. 30, 2024

Subsequent Events [Text Block]

16. Subsequent Events

On October 1, 2024, the Company purchased legal entities that primarily owned manufacturing and office buildings in Casole d’Elsa, Italy as their main operation for approximately 35,000 Euro. Prior to the purchase, these buildings were leased to the Company. The lease was remeasured in the third quarter of 2024 to reflect the purchase price.

Note 10 - Contract Balances (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Contract with Customer, Liability	$ 19,881	$ 19,173
Contract with Customer, Liability, Revenue Recognized	$ 16,104

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

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Operating activities

Net income

$ 199,309

$ 120,310

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

Depreciation

54,236

45,215

Amortization of intangible assets

73,698

78,934

Amortization of capitalized debt fees and original issue discount

2,592

2,902

Change in fair value of investment

2,938

Loss on extinguishment of debt

^[1]

4,861

Deferred income taxes

(23,546)

(18,715)

Share-based compensation expense

^[2]

38,270

30,306

Gain on disposal of assets

(34)

(538)

Other noncash charges

2,904

380

Excess tax benefits from equity awards

(642)

(920)

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

Accounts receivable

(120,137)

(68,975)

Inventories

73,390

101,894

Other assets

(4,348)

32,175

Accounts payable

87,343

(57,866)

Accrued wages and employee benefits

22,482

10,244

Other accrued liabilities

(11,469)

(70,622)

Net cash provided by operating activities

401,847

204,724

Investing activities

Proceeds from sale of property and equipment

144

1,933

Proceeds from beneficial interests in securitization transactions

2,533

Contribution to tax equity investment

(1,629)

(6,627)

Purchase of long-term investments

(37,118)

(2,592)

Proceeds from sale of long-term investment

2,000

Expenditures for property and equipment

(83,399)

(77,718)

Acquisition of businesses, net of cash acquired

(21,784)

(15,974)

Net cash used in investing activities

(141,786)

(98,445)

Financing activities

Proceeds from short-term borrowings

29,219

49,078

Proceeds from long-term borrowings

506,465

345,384

Repayments of short-term borrowings

(48,868)

(25,910)

Repayments of long-term borrowings and finance lease obligations

(560,644)

(233,101)

Stock repurchases

(152,743)

(100,267)

Payment of debt issuance costs

(3,616)

Payment of contingent acquisition consideration

(4,979)

Payment of deferred acquisition consideration

(7,361)

Purchase of additional ownership interest

(9,117)

(104,844)

Taxes paid related to equity awards

(12,268)

(10,068)

Proceeds from the exercise of stock options

12,366

7,139

Net cash used in financing activities

(246,567)

(77,568)

Effect of exchange rate changes on cash and cash equivalents

(311)

Net increase in cash and cash equivalents

13,183

28,802

Cash and cash equivalents at beginning of period

200,994

132,723

Cash and cash equivalents at end of period

$ 214,177

$ 161,525

[1]	Represents fees paid to creditors and the write-off of the unamortized original issue discount and deferred financing costs in connection with the restructuring of the Company's Tranche B Term Loan Facility.
[2]	Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods.

Note 8 - Balance Sheet Details - Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property and equipment, gross	$ 1,018,621	$ 942,783
Accumulated depreciation	(378,888)	(344,206)
Total	639,733	598,577
Land and Land Improvements [Member]
Property and equipment, gross	24,801	22,556
Building and Building Improvements [Member]
Property and equipment, gross	330,765	298,483
Machinery and Equipment [Member]
Property and equipment, gross	294,434	271,879
Dies and Tools [Member]
Property and equipment, gross	47,896	45,998
Vehicles [Member]
Property and equipment, gross	13,558	11,411
Office Equipment [Member]
Property and equipment, gross	210,482	185,601
Leasehold Improvements [Member]
Property and equipment, gross	9,617	8,772
Construction in Progress [Member]
Property and equipment, gross	$ 87,068	$ 98,083

Note 11 - Credit Agreements (Details Textual) - USD ($) $ in Thousands			1 Months Ended	3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
	Jan. 01, 2023	May 31, 2013	Jul. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2023	Jun. 30, 2022
Short-Term Debt				$ 65,540			$ 65,540			$ 81,769
Loss on Extinguishment of Debt				4,861	$ (0)		$ 4,861	$ (0)
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity											$ 1,250,000
Covenant Maximum Total Leverage Ratio									3.75
Covenant Minimum Interest Coverage Ratio									3
Total Leverage Ratio							1.79
Interest Coverage Ratio							8.69
Long-Term Line of Credit				150,000			$ 150,000
Line of Credit Facility, Remaining Borrowing Capacity				$ 1,099,203			$ 1,099,203
Tranche B Term Loan Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 1,200,000
Uncommitted Incremental Term Loan Facility		$ 300,000	$ 300,000
Debt Instrument, Basis Spread on Variable Rate							1.75%
Debt Instrument, SOFR Floor				0.00%		0.00%	0.00%
Extinguishment of Debt, Amount			530,000
Debt Instrument, Face Amount			500,000
Unamortized Debt Issuance Expense			2,991
Debt Issuance Costs, Net			4,236
Loss on Extinguishment of Debt			$ 625
Debt Instrument, Interest Rate, Effective Percentage				6.95%			6.95%
Tranche B Term Loan Facility [Member] \| Maximum [Member]
Threshold for Secured Leverage Ratio Excess Cash Flow Payment Requirement							3.75
Secured Leverage Ratio							1.7
Tranche B Term Loan Facility [Member] \| LIBOR Floor Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		0.75%
Tranche B Term Loan Facility [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate						1.75%
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				6.93%			6.93%
Tranche A Term Loan Facility and Revolving Credit Facility [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate									1.50%
Tranche A Term Loan Facility and Revolving Credit Facility [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.75%
Tranche A Term Loan Facility and Revolving Credit Facility [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%

Note 7 - Segment Reporting - Total Sales by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Total sales	$ 1,173,563	$ 1,070,667	$ 3,061,033	$ 2,958,997
External Net Sales [Member]
Total sales	1,173,563	1,070,667	3,061,033	2,958,997
Intersegment Sales [Member]
Total sales	0	0	0	0
Intersegment Eliminations [Member]
Total sales	(13,338)	(30,933)	(44,698)	(118,038)
Intersegment Eliminations [Member] \| External Net Sales [Member]
Total sales	0	0	0	0
Intersegment Eliminations [Member] \| Intersegment Sales [Member]
Total sales	(13,338)	(30,933)	(44,698)	(118,038)
Domestic [Member]
Total sales	1,011,347	886,365	2,541,242	2,395,292
Domestic [Member] \| Operating Segments [Member]
Total sales	1,020,200	894,005	2,567,813	2,429,252
Domestic [Member] \| Operating Segments [Member] \| External Net Sales [Member]
Total sales	1,011,347	886,365	2,541,242	2,395,292
Domestic [Member] \| Operating Segments [Member] \| Intersegment Sales [Member]
Total sales	8,853	7,640	26,571	33,960
International [Member]
Total sales	162,216	184,302	519,791	563,705
International [Member] \| Operating Segments [Member]
Total sales	166,701	207,595	537,918	647,783
International [Member] \| Operating Segments [Member] \| External Net Sales [Member]
Total sales	162,216	184,302	519,791	563,705
International [Member] \| Operating Segments [Member] \| Intersegment Sales [Member]
Total sales	$ 4,485	$ 23,293	$ 18,127	$ 84,078

Note 3 - Redeemable Noncontrolling Interest - Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Redemption value adjustment	$ 0	$ 46	$ 2,686	$ 10,883
Redeemable Noncontrolling Interest [Member]
Balance	0	5,688	6,549	110,471
Net income	0	58	58	1,728
Foreign currency translation	0	(153)	(176)	(689)
Purchase of additional ownership interest	0	0	(9,117)	(116,754)
Redemption value adjustment	0	46	2,686	10,883
Balance	$ 0	$ 5,639	$ 0	$ 5,639

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 13 - Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2024

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

	*Three Months Ended September 30,*					*Nine Months Ended September 30,*
	*2024*		*2023*			*2024*			*2023*
Numerator
Net income attributable to Generac Holdings Inc.	$	113,742	$	60,377		$	199,089		$	118,005
Redeemable noncontrolling interest redemption value adjustment		-		(46	)		(2,686	)		(10,883	)
Net income attributable to common shareholders	$	113,742	$	60,331		$	196,403		$	107,122

Denominator
Weighted average shares, basic		59,493,640		61,368,440			59,720,597			61,552,949
Dilutive effect of stock compensation awards (1)		818,753		722,723			754,881			809,794
Weighted average shares, dilutive		60,312,393		62,091,163			60,475,478			62,362,743

Net income attributable to common shareholders per share
Basic	$	1.91	$	0.98		$	3.29		$	1.74
Diluted	$	1.89	$	0.97		$	3.25		$	1.72

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 214,177	$ 200,994
Accounts receivable, less allowance for credit losses of $34,489 and $33,925 at September 30, 2024 and December 31, 2023, respectively	658,649	537,316
Inventories	1,095,758	1,167,484
Prepaid expenses and other current assets	104,791	91,898
Total current assets	2,073,375	1,997,692
Property and equipment, net	639,733	598,577
Customer lists, net	166,016	184,513
Patents and technology, net	391,841	417,441
Other intangible assets, net	21,419	27,127
Tradenames, net	210,308	216,995
Goodwill	1,454,172	1,432,384
Deferred income taxes	12,179	15,532
Operating lease and other assets	217,896	203,051
Total assets	5,186,939	5,093,312
Current liabilities:
Short-term borrowings	65,540	81,769
Accounts payable	424,812	340,719
Accrued wages and employee benefits	78,209	54,970
Accrued product warranty	60,377	65,298
Other accrued liabilities	291,360	292,120
Current portion of long-term borrowings and finance lease obligations	99,176	45,895
Total current liabilities	1,019,474	880,771
Long-term borrowings and finance lease obligations	1,360,637	1,447,553
Deferred income taxes	62,260	90,012
Deferred revenue	186,465	167,008
Operating lease and other long-term liabilities	145,641	158,349
Total liabilities	2,774,477	2,743,693
Redeemable noncontrolling interests	0	6,549
Stockholders’ equity:
Common stock, par value $0.01, 500,000,000 shares authorized, 73,646,420 and 73,195,055 shares issued at September 30, 2024 and December 31, 2023, respectively	736	733
Additional paid-in capital	1,115,525	1,070,386
Treasury stock, at cost, 14,149,513 and 13,057,298 shares at September 30, 2024 and December 31, 2023, respectively	(1,192,435)	(1,032,921)
Excess purchase price over predecessor basis	(202,116)	(202,116)
Retained earnings	2,715,716	2,519,313
Accumulated other comprehensive loss	(27,987)	(15,143)
Stockholders’ equity attributable to Generac Holdings Inc.	2,409,439	2,340,252
Noncontrolling interests	3,023	2,818
Total stockholders' equity	2,412,462	2,343,070
Total liabilities and stockholders’ equity	$ 5,186,939	$ 5,093,312

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

3 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2024

USD ($)

Mar. 31, 2024

USD ($)

Sep. 30, 2023

USD ($)

Sep. 30, 2024

USD ($)

Sep. 30, 2023

USD ($)

Dec. 31, 2023

Number of Reportable Segments

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

^[1]

$ (2,382)

$ (22,113)

$ (5,280)

$ (27,913)

Concentration Risk, Percentage

83.00%

79.00%

77.00%

Geographic Concentration Risk [Member] | Long-lived Assets [Member] | UNITED STATES

Concentration Risk, Percentage

75.00%

74.00%

Patents and Securites [Member]

Clean Energy Product [Member]

$ 2,382

$ 22,113

$ 4,915

$ 365

Product [Member]

Depreciation and amortization

$ 5,800

[1]

Represents the following significant and unusual charges not indicative of our ongoing operations: • A provision for judgments and legal expenses related to certain patent and securities lawsuits - $2,382 in the third quarter of 2024; $4,915 year-to-date 2024; and $22,113 in the third quarter of 2023. • Additional customer support costs related to a clean energy product customer that filed for bankruptcy in 2022 – $365 in the first quarter of 2024. • A provision for a matter with the Consumer Product Safety Commission ("CPSC") concerning the imposition of civil fines for allegedly failing to timely submit a report under the Consumer Product Safety Act ("CPSA") in relation to certain portable generators that were subject to a voluntary recall previously announced on July 29, 2021 - $5,800 in the first quarter of 2023.

Note 4 - Derivative Instruments and Hedging Activities - Fair Value of Derivatives (Details) - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Foreign Exchange Contract [Member]
Fair Value of Derivatives	$ (254)	$ (147)
Interest Rate Swap [Member]
Fair Value of Derivatives	25,360	38,601
Stock Warrants [Member]
Fair Value of Derivatives	$ 15,584	$ 14,862

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

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Total adjusted EBITDA

$ 231,865

$ 188,602

$ 523,787

$ 425,222

Interest expense

(22,910)

(24,707)

(69,833)

(72,862)

(43,152)

(42,951)

(127,934)

(124,149)

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

^[1]

(468)

(2,055)

(2,863)

5,257

Non-cash share-based compensation expense (2)

^[2]

(13,115)

(9,927)

(38,270)

(30,306)

Transaction costs and credit facility fees (3)

^[3]

(1,337)

(921)

(4,029)

(3,161)

Business optimization and other charges (4)

^[4]

(1,564)

(5,291)

(3,190)

(8,151)

Provision for legal, regulatory, and clean energy product charges (5)

^[5]

(2,382)

(22,113)

(5,280)

(27,913)

Change in fair value of investment (6)

^[6]

5,198

(2,938)

Loss on extinguishment of debt (7)

^[7]

(4,861)

(0)

Other

(43)

(575)

(156)

(443)

Income before provision for income taxes

147,231

80,062

264,433

163,494

Domestic [Member]

Total adjusted EBITDA

211,567

160,270

450,416

331,134

International [Member]

Total adjusted EBITDA

$ 20,298

$ 28,332

$ 73,371

$ 94,088

[1]	Includes gains/losses on dispositions of assets other than in the ordinary course of business, gains/losses on 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 transaction costs incurred directly in connection with any investment, as defined in our credit agreement, equity issuance or debt issuance or refinancing, together with certain fees relating to our senior secured credit facilities, such as administrative agent fees and credit facility commitment fees under our Amended Credit Agreement.
[4]	Represents severance and other restructuring charges related to the consolidation of certain operating facilities and organizational functions.
[5]	Represents the following significant and unusual charges not indicative of our ongoing operations: • A provision for judgments and legal expenses related to certain patent and securities lawsuits - $2,382 in the third quarter of 2024; $4,915 year-to-date 2024; and $22,113 in the third quarter of 2023. • Additional customer support costs related to a clean energy product customer that filed for bankruptcy in 2022 – $365 in the first quarter of 2024. • A provision for a matter with the Consumer Product Safety Commission ("CPSC") concerning the imposition of civil fines for allegedly failing to timely submit a report under the Consumer Product Safety Act ("CPSA") in relation to certain portable generators that were subject to a voluntary recall previously announced on July 29, 2021 - $5,800 in the first quarter of 2023.
[6]	Represents non-cash losses from changes in the fair value of the Company's investment in warrants and equity securities of Wallbox N.V.
[7]	Represents fees paid to creditors and the write-off of the unamortized original issue discount and deferred financing costs in connection with the restructuring of the Company's Tranche B Term Loan Facility.

Note 6 - Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2024

Comprehensive Income (Loss) Note [Text Block]

6. Accumulated Other Comprehensive Loss

The following table presents a disclosure of changes in AOCL during the three and nine months ended September 30, 2024 and 2023, net of tax:

	*Foreign Currency Translation Adjustments*				*Unrealized Gain (Loss) on Cash Flow Hedges*				*Total*
Beginning Balance – July 1, 2024	$	(72,220	)		$	28,691			$	(43,529	)
Other comprehensive income (loss)		25,719		(1)		(10,177	)	(2)		15,542
Ending Balance – September 30, 2024	$	(46,501	)		$	18,514			$	(27,987	)

	*Foreign Currency Translation Adjustments*				*Unrealized Gain (Loss) on Cash Flow Hedges*			*Total*
Beginning Balance – July 1, 2023	$	(53,923	)		$	37,707		$	(16,216	)
Other comprehensive income (loss)		(26,443	)	(3)		1,045	(4)		(25,398	)
Ending Balance – September 30, 2023	$	(80,366	)		$	38,752		$	(41,614	)

	*Foreign Currency Translation Adjustments*				*Unrealized Gain (Loss) on Cash Flow Hedges*				*Total*
Beginning Balance – January 1, 2024	$	(43,582	)		$	28,439			$	(15,143	)
Other comprehensive income (loss)	(2,919		)	(5)	(9,925		)	(6)		(12,844	)
Ending Balance – September 30, 2024	$	(46,501	)		$	18,514			$	(27,987	)

	*Foreign Currency Translation Adjustments*				*Unrealized Gain (Loss) on Cash Flow Hedges*			*Total*
Beginning Balance – January 1, 2023	$	(101,545	)		$	36,443		$	(65,102	)
Other comprehensive income (loss)		21,179		(7)		2,309	(8)		23,488
Ending Balance – September 30, 2023	$	(80,366	)		$	38,752		$	(41,614	)

	(1)	Represents favorable impact from the weakening of the U.S. dollar against foreign currencies during the three months ended September 30, 2024, particularly the Euro and British Pound.
	(2)	Represents unrealized losses of $(13,577) on the interest rate swaps, net of tax effect of $3,400, for the three months ended September 30, 2024.
	(3)	Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the three months ended September 30, 2023, particularly the Euro, British Pound, and Mexican Peso.
	(4)	Represents unrealized gains of $1,394 on the interest rate swaps, net of tax effect of $(349) for the three months ended September 30, 2023.
	(5)	Represents a slightly unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the nine months ended September 30, 2024, particularly the Euro.
	(6)	Represents unrealized losses of $(13,241) on the interest rate swaps, net of tax effect of $3,316 for the nine months ended September 30, 2024.
	(7)	Represents favorable impact from the weakening of the U.S. dollar against foreign currencies during the nine months ended September 30, 2023, particularly the Euro, British Pound, and Mexican Peso.
	(8)	Represents unrealized gains of $3,081 on the interest rate swaps, net of tax effect of $(772) for the nine months ended September 30, 2023.

Note 9 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Revenue performance obligation	$ 179,294

Note 11 - Credit Agreements - Long-term Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Original issue discount and capitalized debt fees	$ (8,853)	$ (12,685)
Finance lease obligation	90,622	71,308
Other	6,169	9,512
Total	1,459,813	1,493,448
Less: current portion of debt	53,193	42,110
Less: current portion of finance lease obligation	45,983	3,785
Total long-term borrowings and finance lease obligations	1,360,637	1,447,553
Revolving Credit Facility [Member]
Revolving Facility	150,000	150,000
Tranche A Term Loan Facility [Member]
Tranche A Term Loan Facility	721,875	745,313
Tranche B Term Loan Facility [Member]
Tranche A Term Loan Facility	$ 500,000	$ 530,000

Note 4 - Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2024

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

	September 30, 2024		December 31, 2023
Foreign currency contracts		(254)		(147	)
Interest rate swaps		25,360		38,601
Stock warrants		15,584		14,862

Note 5 - Fair Value Measurements (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Payments to Acquire Long-Term Investments		$ 37,118	$ 2,592
Other Long-term Liabilities [Member]
Business Combination, Contingent Consideration, Liability	$ 45,407	$ 45,407		$ 38,937
Fair Value, Inputs, Level 3 [Member] \| Stock Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 6	$ 6
Fair Value, Inputs, Level 1 [Member] \| Equity Securities [Member]
Payments to Acquire Long-Term Investments	$ 35,000
Investment Owned, Balance, Shares (in shares)	38,096,057	38,096,057
Equity Securities, FV-NI, Gain (Loss)	$ (1,408)	$ (3,277)
Fair Value, Inputs, Level 1 [Member] \| Equity Securities [Member] \| Operating Lease and Other Assets [Member]
Long-Term Investments	46,477	46,477		$ 17,213
Tranche B Term Loan Facility [Member]
Long-Term Debt	497,097	497,097
Tranche B Term Loan Facility [Member] \| Fair Value, Inputs, Level 2 [Member]
Debt Instrument, Fair Value Disclosure	500,000	500,000
Tranche A Term Loan Facility [Member]
Long-Term Debt	719,893	719,893
Tranche A Term Loan Facility [Member] \| Fair Value, Inputs, Level 2 [Member]
Debt Instrument, Fair Value Disclosure	$ 707,438	$ 707,438

Note 5 - Fair Value Measurements - Reconciliation of Contingent Consideration (Details) - Contingent Consideration Liability [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Balance	$ 38,937
Changes in fair value	0
Additional contingent consideration	5,911
Present value interest accretion	559
Balance	$ 45,407

Note 1 - Description of Business and Basis of Presentation

9 Months Ended

Sep. 30, 2024

Business Description and Basis of Presentation [Text Block]

1. Description of Business and Basis of Presentation

Founded in 1959, Generac Holdings Inc. ("the Company") is a leading global designer and manufacturer of a wide range of energy technology solutions. The Company provides power generation equipment, energy storage systems, energy management devices & solutions, and other power products and services 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. A summary of acquisitions affecting the reporting periods presented include:

	●	In August 2024, the Company acquired the assets and liabilities of Ageto, LLC ("Ageto"). Ageto designs and integrates microgrid energy and control management systems and is headquartered in Fort Collins, Colorado.
	●	In June 2024, the Company closed on the acquisition of the Commercial & Industrial Battery Energy Storage System ("C&I BESS") product offering from SunGrid Solutions Inc. located in Cambridge, Canada.
	●	In April 2024, the Company acquired Huntington Power Equipment, Inc. ("Huntington"), headquartered in Shelton, Connecticut. Huntington is an industrial and residential generator distributor as well as a provider of maintenance and repair services.
	●	In February 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 C&I energy storage market.

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

The condensed consolidated balance sheet as of September 30, 2024, the condensed consolidated statements of comprehensive income for the three and nine months ended September 30, 2024 and 2023, the condensed consolidated statements of stockholders’ equity for the three and nine months ended September 30, 2024 and 2023, and the condensed consolidated statements of cash flows for the nine months ended September 30, 2024 and 2023 have been prepared by the Company and have not been audited. In the opinion of management, all adjustments (which include only normal recurring adjustments except where disclosed) necessary for the fair presentation of the financial position, results of operation, and cash flows have been made. The results of operations for any interim period are not necessarily indicative of the results to be expected for the full year.

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

Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2023.

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").

In March 2024, the Securities and Exchange Commission ("SEC") adopted a final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors, to enhance and standardize climate-related disclosures. The rule will require companies to disclose material Scope 1 and Scope 2 greenhouse gas emissions; climate-related risks, governance, and oversight; and the financial effects of severe weather events and other natural conditions. These disclosures will begin to be phased in beginning with the Company's annual report for the year ending December 31, 2025. While this rule has been stayed pending the outcome of legal challenges, the Company is currently assessing the impact of adoption on the Company's consolidated financial statements and related disclosures in the event the stay is lifted.

In December 2023, the FASB issued ASU 2023-09 Improvements to Income Tax Disclosures. The ASU establishes new income tax disclosure requirements in addition to modifying and eliminating certain existing requirements. Under the new guidance, the Company must consistently categorize and provide greater disaggregation of information in the rate reconciliation. It must also further disaggregate income taxes paid. The update is effective for fiscal years beginning after December 15, 2024, and interim periods for fiscal years beginning after December 15, 2025. Entities may apply the amendments prospectively or may elect retrospective application. The Company is evaluating the impact of the new required disclosures but do not expect the adoption of ASU 2023-09 to have a material impact on the Company's consolidated financial statements.

In November 2023, the FASB issued ASU 2023-07 Segment Reporting - Improving Reportable Segment Disclosures (Topic 280). The update is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses. The ASU requires disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker ("CODM"), a description of other segment items by reportable segment, and any additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. The ASU also requires all annual disclosures currently required by Topic 280 to be included in interim periods. The update is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted and requires retrospective application to all prior periods presented in the financial statements. The Company is evaluating the impact of the new required disclosures but do not expect the adoption of ASU 2023-07 to have a material impact on the Company's consolidated financial statements or disclosures.

There have been no other recent accounting pronouncements, changes in accounting pronouncements, or recently adopted accounting guidance during the nine months ended September 30, 2024, that are of significance or potential significance to the Company's consolidated financial statements or disclosures.

Note 13 - Earnings Per Share - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Net income attributable to Generac Holdings Inc.

$ 113,742

$ 60,377

$ 199,089

$ 118,005

Redeemable noncontrolling interest redemption value adjustment

(46)

(2,686)

(10,883)

Net income attributable to common shareholders

$ 113,742

$ 60,331

$ 196,403

$ 107,122

Weighted average shares, basic (in shares)

59,493,640

61,368,440

59,720,597

61,552,949

Dilutive effect of stock compensation awards (in shares)

^[1]

818,753

722,723

754,881

809,794

Weighted average shares, dilutive (in shares)

60,312,393

62,091,163

60,475,478

62,362,743

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

$ 1.91

$ 0.98

$ 3.29

$ 1.74

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

$ 1.89

$ 0.97

$ 3.25

$ 1.72

[1]

Excludes approximately 430,000 and 440,000 stock options and restricted stock awards for the three months and nine months ended September 30, 2024, respectively, and 370,000 and 344,000 stock options and restricted stock awards for the three months and nine months ended September 30, 2023, respectively, because they would be anti-dilutive.

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

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

Note 3 - Redeemable Noncontrolling Interest (Tables)

9 Months Ended

Sep. 30, 2024

Redeemable Noncontrolling Interest [Table Text Block]

	*Three Months Ended September 30,*					*Nine Months Ended September 30,*
	*2024*		*2023*			*2024*			*2023*
Balance at beginning of period	$	-	$	5,688		$	6,549		$	110,471
Net income		-		58			58			1,728
Foreign currency translation		-		(153	)		(176	)		(689	)
Purchase of additional ownership interest		-		-			(9,117	)		(116,754	)
Redemption value adjustment		-		46			2,686			10,883
Balance at end of period	$	-	$	5,639		$	-		$	5,639

Note 12 - Stock Repurchase Program

9 Months Ended

Sep. 30, 2024

Treasury Stock [Text Block]

12. Stock Repurchase Program

In July 2022, the Company's Board of Directors approved a stock repurchase program, which commenced on August 5, 2022, and allowed for the repurchase of up to $500,000 of the Company's common stock over a 24-month period. Additionally, on February 12, 2024, the Company’s Board of Directors approved a new stock repurchase program that allows for the repurchase of up to $500,000 of the Company’s common stock over the following 24 months. The new program replaces the prior share repurchase program, which had $26,297 remaining available for repurchase when the new program was approved. 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 in 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 third quarter of 2024, the Company repurchased 690,711 shares of common stock for $102,134. During the second quarter of 2024, the Company repurchased 355,640 shares of common stock for $50,609. There were no share repurchases under the program during the first quarter of 2024. During the third quarter of 2023, the Company repurchased 875,580 shares of common stock for $100,267. There were no share repurchases during the first and second quarters of 2023. The Company has periodically reissued shares out of Treasury stock, including for acquisition contingent consideration payments.

Note 7 - Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2024

Disaggregation of Revenue [Table Text Block]

	*Net Sales by Reportable Segment*
	*Three Months Ended September 30, 2024*
Product Classes	*Domestic*		*International*		*Total*
Residential products	$	701,781	$	21,006	$	722,787
Commercial & industrial products		199,339		128,617		327,956
Other		110,227		12,593		122,820
Total net sales	$	1,011,347	$	162,216	$	1,173,563

	*Net Sales by Reportable Segment*
	*Three Months Ended September 30, 2023*
Product Classes	*Domestic*		*International*		*Total*
Residential products	$	539,775	$	25,312	$	565,087
Commercial & industrial products		238,212		146,321		384,533
Other		108,378		12,669		121,047
Total net sales	$	886,365	$	184,302	$	1,070,667

	*Net Sales by Reportable Segment*
	*Nine Months Ended September 30, 2024*
Product Classes	*Domestic*		*International*		*Total*
Residential products	$	1,629,100	$	61,036	$	1,690,136
Commercial & industrial products		606,147		419,948		1,026,095
Other		305,995		38,807		344,802
Total net sales	$	2,541,242	$	519,791	$	3,061,033

	*Net Sales by Reportable Segment*
	*Nine Months Ended September 30, 2023*
Product Classes	*Domestic*		*International*		*Total*
Residential products	$	1,389,112	$	93,426	$	1,482,538
Commercial & industrial products		700,941		430,935		1,131,876
Other		305,239		39,344		344,583
Total net sales	$	2,395,292	$	563,705	$	2,958,997

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

	*Three Months Ended September 30, 2024*									*Three Months Ended September 30, 2023*
	*Domestic*		*International*		*Eliminations*			*Total*		*Domestic*		*International*		*Eliminations*			*Total*
External net sales	$	1,011,347	$	162,216	$	-		$	1,173,563	$	886,365	$	184,302	$	-		$	1,070,667
Intersegment sales		8,853		4,485		(13,338	)		-		7,640		23,293		(30,933	)		-
Total sales	$	1,020,200	$	166,701	$	(13,338	)	$	1,173,563	$	894,005	$	207,595	$	(30,933	)	$	1,070,667

	*Nine Months Ended September 30, 2024*									*Nine Months Ended September 30, 2023*
	*Domestic*		*International*		*Eliminations*			*Total*		*Domestic*		*International*		*Eliminations*			*Total*
External net sales	$	2,541,242	$	519,791	$	-		$	3,061,033	$	2,395,292	$	563,705	$	-		$	2,958,997
Intersegment sales		26,571		18,127		(44,698	)		-		33,960		84,078		(118,038	)		-
Total sales	$	2,567,813	$	537,918	$	(44,698	)	$	3,061,033	$	2,429,252	$	647,783	$	(118,038	)	$	2,958,997

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

	*Adjusted EBITDA by Reportable Segment*
	*Three Months Ended September 30,*						*Nine Months Ended September 30,*
	*2024*			*2023*			*2024*			*2023*
Domestic	$	211,567		$	160,270		$	450,416		$	331,134
International		20,298			28,332			73,371			94,088
Total Adjusted EBITDA	$	231,865		$	188,602		$	523,787		$	425,222

Interest expense		(22,910	)		(24,707	)		(69,833	)		(72,862	)
Depreciation and amortization		(43,152	)		(42,951	)		(127,934	)		(124,149	)
Non-cash write-down and other adjustments (1)		(468	)		(2,055	)		(2,863	)		5,257
Non-cash share-based compensation expense (2)		(13,115	)		(9,927	)		(38,270	)		(30,306	)
Transaction costs and credit facility fees (3)		(1,337	)		(921	)		(4,029	)		(3,161	)
Business optimization and other charges (4)		(1,564	)		(5,291	)		(3,190	)		(8,151	)
Provision for legal, regulatory, and clean energy product charges (5)		(2,382	)		(22,113	)		(5,280	)		(27,913	)
Change in fair value of investment (6)		5,198			-			(2,938	)		-
Loss on extinguishment of debt (7)		(4,861	)		-			(4,861	)		-
Other		(43	)		(575	)		(156	)		(443	)
Income before provision for income taxes	$	147,231		$	80,062		$	264,433		$	163,494

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock, Common [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, 2022	72,701,257		(11,284,350)
Balance at Dec. 31, 2022	$ 728,000	$ 1,016,138,000	$ (808,491,000)	$ (202,116,000)	$ 2,316,224,000	$ (65,102,000)	$ 2,257,381,000	$ 1,874,000	$ 2,259,255,000
Unrealized gain (loss) on interest rate swaps, net of tax						2,309,000	2,309,000		2,309,000
Foreign currency translation adjustment						21,179,000	21,179,000	(38,000)	21,141,000
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)	396,713
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price	$ 4,000	2,563,000					2,567,000		2,567,000
Net share settlement of restricted stock awards (in shares)			(45,611)
Net share settlement of restricted stock awards			$ (5,496,000)				(5,496,000)		(5,496,000)
Stock repurchases (in shares)			(875,580)
Stock repurchases			$ (100,267)				(100,267)		(100,267)
Share-based compensation		30,306,000					30,306,000		30,306,000
Net income attributable to Generac Holdings Inc.					118,005,000		118,005,000		118,005,000
Net income								743,000
Net income									118,748,000
Redemption value adjustment					(10,883,000)		(10,883,000)		(10,883,000)
Payment of contingent consideration (in shares)	10,943		466,118
Payment of contingent consideration	$ 0	15,411,000	$ 33,396,000				48,807,000		48,807,000
Balance (in shares) at Sep. 30, 2023	73,108,913		(11,739,423)
Balance at Sep. 30, 2023	$ 732,000	1,064,418,000	$ (880,858,000)	(202,116,000)	2,423,346,000	(41,614,000)	2,363,908,000	2,579,000	2,366,487,000
Balance (in shares) at Jun. 30, 2023	73,097,016		(10,858,348)
Balance at Jun. 30, 2023	$ 732,000	1,053,759,000	$ (779,892,000)	(202,116,000)	2,363,015,000	(16,216,000)	2,419,282,000	2,474,000	2,421,756,000
Unrealized gain (loss) on interest rate swaps, net of tax						1,045,000	1,045,000		1,045,000
Foreign currency translation adjustment						(26,443,000)	(26,443,000)	(93,000)	(26,536,000)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)	11,897
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price	$ 0	732,000					732,000		732,000
Net share settlement of restricted stock awards (in shares)			(5,495)
Net share settlement of restricted stock awards			$ (699,000)				(699,000)		(699,000)
Stock repurchases (in shares)			(875,580)
Stock repurchases			$ (100,267)				(100,267)		(100,267)
Share-based compensation		9,927,000					9,927,000		9,927,000
Net income attributable to Generac Holdings Inc.					60,377,000		60,377,000		60,377,000
Net income								198,000
Net income									60,575,000
Redemption value adjustment					(46,000)		(46,000)		(46,000)
Balance (in shares) at Sep. 30, 2023	73,108,913		(11,739,423)
Balance at Sep. 30, 2023	$ 732,000	1,064,418,000	$ (880,858,000)	(202,116,000)	2,423,346,000	(41,614,000)	2,363,908,000	2,579,000	2,366,487,000
Balance (in shares) at Dec. 31, 2023	73,195,055		(13,057,298)
Balance at Dec. 31, 2023	$ 733,000	1,070,386,000	$ (1,032,921,000)	(202,116,000)	2,519,313,000	(15,143,000)	2,340,252,000	2,818,000	2,343,070,000
Unrealized gain (loss) on interest rate swaps, net of tax						(9,925,000)	(9,925,000)		(9,925,000)
Foreign currency translation adjustment						(2,919,000)	(2,919,000)	54,000	(2,865,000)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)	451,365
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price	$ 3,000	6,869,000					6,872,000		6,872,000
Net share settlement of restricted stock awards (in shares)			(54,281)
Net share settlement of restricted stock awards			$ (6,771,000)				(6,771,000)		(6,771,000)
Stock repurchases (in shares)			(1,046,351)
Stock repurchases			$ (152,743,000)				(152,743,000)		(152,743,000)
Share-based compensation		38,270,000					38,270,000		38,270,000
Net income attributable to Generac Holdings Inc.					199,089,000		199,089,000		199,089,000
Net income								151,000
Net income									199,240,000
Redemption value adjustment					(2,686,000)		(2,686,000)		(2,686,000)
Balance (in shares) at Sep. 30, 2024	73,646,420		(14,149,513)
Balance at Sep. 30, 2024	$ 736,000	1,115,525,000	$ (1,192,435,000)	(202,116,000)	2,715,716,000	(27,987,000)	2,409,439,000	3,023,000	2,412,462,000
Balance (in shares) at Jun. 30, 2024	73,608,578		(13,446,797)
Balance at Jun. 30, 2024	$ 736,000	1,101,074,000	$ (1,088,426,000)	(202,116,000)	2,601,974,000	(43,529,000)	2,369,713,000	2,806,000	2,372,519,000
Unrealized gain (loss) on interest rate swaps, net of tax						(10,177,000)	(10,177,000)		(10,177,000)
Foreign currency translation adjustment						25,719,000	25,719,000	181,000	25,900,000
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)	37,842
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price	$ 0	1,336,000					1,336,000		1,336,000
Net share settlement of restricted stock awards (in shares)			(12,005)
Net share settlement of restricted stock awards			$ (1,875,000)				(1,875,000)		(1,875,000)
Stock repurchases (in shares)			(690,711)
Stock repurchases			$ (102,134)				(102,134)		(102,134)
Share-based compensation		13,115,000					13,115,000		13,115,000
Net income attributable to Generac Holdings Inc.					113,742,000		113,742,000		113,742,000
Net income								36,000
Net income									113,778,000
Redemption value adjustment									0
Balance (in shares) at Sep. 30, 2024	73,646,420		(14,149,513)
Balance at Sep. 30, 2024	$ 736,000	$ 1,115,525,000	$ (1,192,435,000)	$ (202,116,000)	$ 2,715,716,000	$ (27,987,000)	$ 2,409,439,000	$ 3,023,000	$ 2,412,462,000

Note 3 - Redeemable Noncontrolling Interest

9 Months Ended

Sep. 30, 2024

Redeemable Noncontrolling Interest [Text Block]

3. Redeemable Noncontrolling Interest

On March 1, 2016, the Company acquired a 65% ownership interest in PR Industrial S.r.l. and its subsidiaries (Pramac). The 35% noncontrolling interest in Pramac had an acquisition date fair value of $34,253 and was recorded as a redeemable noncontrolling interest in the consolidated balance sheets, as the noncontrolling interest holder had within its control the right to require the Company to redeem its interest in Pramac. 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 in Pramac to 80%. On March 8, 2023, the Company and the noncontrolling interest holder entered into an agreement whereby the Company acquired the remaining 20% ownership interest in Pramac for a purchase price of $116,754, which brought the Company's total ownership interest in Pramac to 100%. The purchase price included $105,264 of initial consideration (which included a cash payment of $104,844 and a $420 gain on a foreign currency settlement in the first quarter of 2023) and $11,490 of contingent deferred consideration to be paid in up to 135,205 restricted shares that were issued based on the twenty day volume weighted average price of the Company’s stock ending on December 31, 2022, and which shall vest upon achievement of certain earnings targets at the end of the earn-out period, December 31, 2025.

On February 1, 2019, the Company acquired a 51% ownership interest in Captiva Energy Solutions Private Limited (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 sheets, as the noncontrolling interest holder had within its control the right to require the Company to redeem its interest in Captiva. The noncontrolling interest holder had 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 had a call option that may be redeemed any time after five years from the date of acquisition, or earlier upon the occurrence of certain circumstances. The put and call option price was based on a multiple of earnings, subject to the terms of the acquisition agreement. In May 2022, the Company purchased an additional 15% ownership interest in Captiva for $375, which was paid with cash on hand, bringing the Company's total ownership interest in Captiva to 66%. On April 5, 2024, the Company acquired the remaining 34% ownership interest in Captiva for $9,117.

The above redeemable noncontrolling interests were recorded at the greater of the initial fair value, increased or decreased for the noncontrolling interests’ share of comprehensive income (loss), or the estimated redemption value, with any adjustments to the redemption value impacting retained earnings, but not net income. However, the redemption value adjustments are reflected in the earnings per share calculation, as detailed in Note 13, “Earnings Per Share,” to the condensed consolidated financial statements. The following table presents the changes in the redeemable noncontrolling interest for both Captiva and Pramac:

	*Three Months Ended September 30,*					*Nine Months Ended September 30,*
	*2024*		*2023*			*2024*			*2023*
Balance at beginning of period	$	-	$	5,688		$	6,549		$	110,471
Net income		-		58			58			1,728
Foreign currency translation		-		(153	)		(176	)		(689	)
Purchase of additional ownership interest		-		-			(9,117	)		(116,754	)
Redemption value adjustment		-		46			2,686			10,883
Balance at end of period	$	-	$	5,639		$	-		$	5,639

Note 10 - Contract Balances

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Text Block]

10. Contract Balances

While the Company’s standard payment terms for its customers are less than one year, the specific payment terms and conditions in its customer contracts vary. In certain cases, the Company’s customers pay for their goods in advance. These prepayments are recognized as customer deposits (contract liabilities) and recorded in other accrued liabilities in the condensed consolidated balance sheets. The balance of customer deposits was $19,881 and $19,173 on September 30, 2024 and December 31, 2023, respectively. During the nine months ended September 30, 2024 the Company recognized revenue of $16,104 related to amounts included in the December 31, 2023, customer deposit balance. The Company typically recognizes revenue within one year of the receipt of the customer deposit.

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Note 4 - Derivative Instruments and Hedging Activities

9 Months Ended

Sep. 30, 2024