Rush Enterprises (RUSHA) 10-Q 10 May 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 02, 2018
Document Information [Line Items]
Entity Registrant Name	RUSH ENTERPRISES INC \TX\
Entity Central Index Key	1,012,019
Trading Symbol	rusha
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		30,593,549
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		8,543,391

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 131,712	$ 124,541
Accounts receivable, net	185,936	183,875
Note receivable affiliate	16,993	11,914
Inventories, net	1,044,710	1,033,294
Prepaid expenses and other	13,809	11,969
Assets held for sale	7,645	9,505
Total current assets	1,400,805	1,375,098
Investments	6,375	6,375
Property and equipment, net	1,151,646	1,159,595
Goodwill, net	291,391	291,391
Other assets, net	48,987	57,680
Total assets	2,899,204	2,890,139
Current liabilities:
Floor plan notes payable	805,531	778,561
Current maturities of long-term debt	143,401	145,139
Current maturities of capital lease obligations	17,399	17,119
Trade accounts payable	123,786	107,906
Customer deposits	27,388	27,350
Accrued expenses	88,232	96,132
Total current liabilities	1,205,737	1,172,207
Long-term debt, net of current maturities	453,986	466,389
Capital lease obligations, net of current maturities	60,706	66,022
Other long-term liabilities	11,040	9,837
Deferred income taxes, net	136,066	135,311
Shareholders’ equity:
Preferred stock, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2018 and 2017	0	0
Common stock, par value $.01 per share; 60,000,000 Class A shares and 20,000,000 Class B shares authorized; 30,582,509 Class A shares and 8,623,472 Class B shares outstanding in 2018; and 31,345,116 Class A shares and 8,469,427 Class B shares outstanding in 2017	457	454
Additional paid-in capital	356,435	348,044
Treasury stock, at cost: 1,768,354 class A shares and 4,697,592 class B shares in 2018 and 934,171 class A shares and 4,625,181 class B shares in 2017	(158,819)	(120,682)
Retained earnings	833,596	812,557
Total shareholders’ equity	1,031,669	1,040,373
Total liabilities and shareholders’ equity	$ 2,899,204	$ 2,890,139

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Class A [Member]
Common stock, authorized (in shares)	60,000,000	60,000,000
Common stock, outstanding (in shares)	30,582,509	31,345,116
Treasury stock (in shares)	1,768,354	934,171
Common Class B [Member]
Common stock, authorized (in shares)	20,000,000	20,000,000
Common stock, outstanding (in shares)	8,623,472	8,469,427
Treasury stock (in shares)	4,697,592	4,625,181

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Revenue	$ 1,183,257
Lease and rental	57,524	$ 51,244
Total revenue	1,240,781	1,044,797
Cost of products sold:
Lease and rental	48,428	44,304
Total cost of products sold	1,013,786	856,890
Gross profit	226,995	187,907
Selling, general and administrative expense	171,670	150,403
Depreciation and amortization expense	22,908	12,492
Loss on sale of assets	(28)	(163)
Operating income	32,389	24,849
Interest expense, net	4,306	2,791
Income before taxes	28,083	22,058
Provision for income taxes	7,044	7,579
Net income	$ 21,039	$ 14,479
Earnings per common share:
Basic (in dollars per share)	$ 0.53	$ 0.37
Diluted (in dollars per share)	$ 0.51	$ 0.36
Weighted average shares outstanding:
Basic (in shares)	39,665	39,409
Diluted (in shares)	41,092	40,701
Comprehensive income	$ 21,039	$ 14,479
New and Used Commercial Vehicle [Member]
Revenues:
Revenue	773,100	635,953
Cost of products sold:
Cost of products sold	710,914	588,120
Parts and Service [Member]
Revenues:
Revenue	400,295	350,106
Cost of products sold:
Cost of products sold	254,444	224,466
Finance and Insurance [Member]
Revenues:
Revenue	4,741	3,929
Product and Service, Other [Member]
Revenues:
Revenue	$ 5,121	$ 3,565

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income	$ 21,039	$ 14,479
Adjustments to reconcile net income to net cash provided by operating activities-
Depreciation and amortization	51,056	38,724
Loss on sale of property and equipment, net	28	163
Stock-based compensation expense related to employee stock options and employee stock purchases	7,893	4,759
Provision for deferred income tax expense	755	1,408
Change in accounts receivable, net	(7,140)	(12,901)
Change in inventories	5,706	(19,376)
Change in prepaid expenses and other, net	(2,103)	(609)
Change in trade accounts payable	12,912	1,690
Draws on floor plan notes payable – trade, net	35,380	18,552
Change in customer deposits	38	(2,201)
Change in accrued expenses	(7,900)	(7,163)
Net cash provided by operating activities	117,664	37,525
Cash flows from investing activities:
Acquisition of property and equipment	(48,215)	(39,209)
Proceeds from the sale of property and equipment	2,231	1,600
Other	(1,098)	5,160
Net cash used in investing activities	(47,082)	(32,449)
Cash flows from financing activities:
(Payments) draws on floor plan notes payable – non-trade, net	(8,410)	19,098
Proceeds from long-term debt	32,137	25,555
Principal payments on long-term debt	(46,278)	(38,113)
Principal payments on capital lease obligations	(3,224)	(3,337)
Issuance of shares relating to employee stock options and employee stock purchases	501	6,851
Common stock repurchased	(38,137)	(7,560)
Debt issuance costs		(523)
Net cash (used in) provided by financing activities	(63,411)	1,971
Net decrease in cash and cash equivalents	7,171	7,047
Cash and cash equivalents, beginning of period	124,541	82,026
Cash and cash equivalents, end of period	131,712	89,073
Supplemental disclosure of cash flow information:
Interest	9,943	8,211
Income taxes paid, net	1,500	6,201
Noncash investing and financing activities:
Assets acquired under capital leases	$ 401	$ 2,073

Note 1 - Principles of Consolid

Note 1 - Principles of Consolidation and Basis of Presentation	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1 The interim consolidated financial statements included herein have been prepared by Rush Enterprises, Inc. and its subsidiaries (collectively referred to as the “Company”), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). All adjustments have been made to the accompanying interim consolidated financial statements, which, in the opinion of the Company’s management, are necessary for a fair presentation of its operating results. All adjustments are of a normal recurring nature. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. It is recommended that these interim consolidated financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10 December 31, 2017. not may

Note 2 - Other Assets

Note 2 - Other Assets	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Other Assets Disclosure [Text Block]	2 Other Assets The total capitalized costs of the Company’s SAP enterprise resource planning software platform (“ERP Platform”) of $22.0 $31.1 $11.1 three March 31, 2018 $0.9 three March 31, 2017. In the first 2018, 350 40, first 2018, no May 2018. February 2018 May 2018. first 2018, $10.2 The Company’s only significant identifiable intangible assets, other than goodwill, are rights under franchise agreements with manufacturers. The fair value of the franchise right is determined at the acquisition date by discounting the projected cash flows specific to each acquisition. The carrying value of the Company’s manufacturer franchise rights was $7.0 March 31, 2018 December 31, 2017, no not Due to the fact that manufacturer franchise rights are specific to geographic region, the Company has determined that evaluating and including all locations acquired in the geographic region is the appropriate level for purposes of testing franchise rights for impairment. Management reviews indefinite-lived manufacturer franchise rights for impairment annually during the fourth may The significant estimates and assumptions used by management in assessing the recoverability of manufacturer franchise rights include estimated future cash flows, present value discount rate and other factors. Any changes in these estimates or assumptions could result in an impairment charge. The estimates of future cash flows, based on reasonable and supportable assumptions and projections, require management’s subjective judgment. Depending on the assumptions and estimates used, the estimated future cash flows projected in the evaluations of manufacturer franchise rights can vary within a range of outcomes. No

Note 3 - Commitments and Contin

Note 3 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	3 From time to time, the Company is involved in litigation arising out of its operations in the ordinary course of business. The Company maintains liability insurance, including product liability coverage, in amounts deemed adequate by management. To date, aggregate costs to us for claims, including product liability actions, have not not no no not

Note 4 - Earnings Per Share

Note 4 - Earnings Per Share	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	4 The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts): Three Months Ended March 31, 2018 2017 Numerator: Numerator for basic and diluted earnings per share – Net income available to common shareholders $ 21,039 $ 14,479 Denominator– Denominator for basic earnings per share – weighted average shares outstanding 39,665 39,409 Effect of dilutive securities– Employee stock options and restricted stock awards 1,427 1,292 Denominator for basic earnings per share – adjusted weighted average shares outstanding and assumed conversions shares outstanding 41,092 40,701 Basic earnings per common share $ .53 $ .37 Diluted earnings per common share and common share equivalents $ .51 $ .36 Options to purchase shares of common stock that were outstanding for the three March 31, 2018 2017 not March 31, 2018 March 31, 2017 Anti-dilutive options – weighted average 87 729

Note 5 - Stock Options and Rest

Note 5 - Stock Options and Restricted Stock Awards	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	5 – Stock Options and Restricted S tock Awards The Company accounts for stock-based compensation in accordance with ASC 718 10, “Compensation – Stock Compensation,” $7.9 three March 31, 2018, $4.8 three March 31, 2017. ASU No. 2016 09, “Improvements to Employee Share-Based Payment Accounting (Topic 718 $22,000 first 2018, $1.1 first 2017 first 2018, As of March 31, 2018, $12.2 3.6 $13.1 2.2

Note 6 - Financial Instruments

Note 6 - Financial Instruments and Fair Value	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Fair Value Disclosures [Text Block]	6 The Company has various financial instruments that it must measure at fair value on a recurring basis. The Company also applies the provisions of fair value measurement to various nonrecurring measurements for its financial and nonfinancial assets and liabilities. Applicable accounting standards define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The Company measures its assets and liabilities using inputs from the following three Level 1 Level 2 not Level 3 Financial instruments consist primarily of cash, accounts receivable, accounts payable and floor plan notes payable. The carrying values of the Company’s financial instruments approximate fair value due either to their short-term nature or existence of variable interest rates, which approximate market rates. Certain methods and assumptions were used by the Company in estimating the fair value of financial instruments at March 31, 2018, December 31, 2017. The fair value of the Company’s long-term debt is based on secondary market indicators. Because the Company’s debt is not 2 If investments are deemed to be impaired, the Company determines whether the impairment is temporary or other than temporary. If the impairment is deemed to be temporary, the Company records an unrealized loss in other comprehensive income. If the impairment is deemed other than temporary, the Company records the impairment in the Company’s Consolidated Statements of Income and Comprehensive Income. Auction Rate Securities In prior years, the Company invested in interest-bearing short-term investments primarily consisting of investment-grade auction rate securities classified as available-for-sale and reported at fair value. These types of investments were designed to provide liquidity through an auction process that reset the applicable interest rates at predetermined periods ranging from 1 35 Auctions for investment grade securities held by the Company have failed. However, a failed auction does not not As of March 31, 2018 December 31, 2017, 2030 $6.4 $150,000 2014, $275,000 2015, $450,000 2016 $325,000 2017. The Company valued the auction rate securities at March 31, 2018 first 2019, 225 The Company recorded a pre-tax impairment charge of $1.0 2011 $427,000 2014 $469,000 2017, The auction rate securities have a fair value of $6.4 March 31, 2018 December 31, 2017 3 Long-Lived Assets During the first 2016, 2016, $7.5 The fair value measurements for the Company’s long-lived assets are based on Level 3 third 2016, four $6.1 2017, three $2.2 third 2017, one $1.4 February 2018, one $1.9 March 31, 2018, The following table presents long-lived assets classified as held for sale and measured and recorded at fair value on a nonrecurring basis (in thousands): Description Fair Value Measurements Using Significant Unobservable Inputs March 31, 2018 Loss During the March 31, 2018 Loss During the March 31, 2017 Long-lived assets held for sale $ 7,645 $ (56 ) $ −

Note 7 - Segment Information

Note 7 - Segment Information	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	7 The Company currently has one one not The Company also has revenues attributable to three None The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company evaluates performance based on income before income taxes, not The following table contains summarized information about reportable segment revenues, segment income or loss from continuing operations and segment assets for the periods ended March 31, 2018 2017 Truck Segment All Other Totals As of and for the three months ended March 31, 201 8 Revenues from external customers $ 1,236,652 $ 4,129 $ 1,240,781 Segment operating income 32,360 29 32,389 Segment income (loss) before taxes 28,103 (20 ) 28,083 Segment assets 2,864,504 34,700 2,899,204 As of and for the three months ended March 31, 201 7 Revenues from external customers $ 1,040,853 $ 3,944 $ 1,044,797 Segment operating income (loss) 24,994 (145 ) 24,849 Segment income (loss) before taxes 22,244 (186 ) 22,058 Segment assets 2,603,945 35,616 2,639,561

Note 8 - Income Taxes

Note 8 - Income Taxes	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	8 The Company had unrecognized income tax benefits totaling $2.6 March 31, 2018 December 31, 2017, may No $166,000 March 31, 2018 December 31, 2017. On December 22, 2017, 35% 21% January 1, 2018. 2017 No. 118 118 not one December 31, 2017, $82.9 may The Company does not 12 March 31, 2018, December 31, 2014 2017 December 31, 2013 2017 In March 2016, No. 2016 09, Compensation – Stock Compensation (Topic 718 January 1, 2017. 2016 09 $22,000 first 2018, $1.1 first 2017,

Note 9 - Accumulated Other Comp

Note 9 - Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	9 – Accumulated Other Comprehensive Income (Loss) The following table shows the components of accumulated other comprehensive loss, net of tax, (in thousands): Available for Sale Securities Balance as of December 31, 2017 $ − Change in fair value − Income tax expense − Balance at March 31, 2018 $ − Available for Sale Securities Balance as of December 31, 2016 $ (286 ) Change in fair value − Income tax expense − Balance at March 31, 2017 $ (286 )

Note 10 - New Accounting Pronou

Note 10 - New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	1 0 – New Accounting Pronouncements Leases In February 2016, No. 2016 02, Leases ( “ Topic 842 ” ), 12 The Company will adopt Topic 842 January 1, 2019. not No. 2018 01, Leases : Land Easement Practical Expedient for Transition to Topic 842 , " Revenue from Contracts with Customers In May 2014, No. 2014 09, Revenue from Contracts with Customers ( “ Topic 606 ” ) 606 606 January 1, 2018 not 606 three March 31, 2018, not not The Company’s revenues are primarily generated from the sale of finished products to customers. Those sales predominantly contain a single delivery element and revenue for such sales is recognized when the customer obtains control which is typically when the finished product is delivered to the customer. The Company’s material revenue streams have been identified as the following: the sale of new and used commercial vehicles, arrangement of associated commercial vehicle financing and insurance contracts, the performance of commercial vehicle repair services and the sale of commercial vehicle parts. Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from revenues. The following table summarizes the Company’s disaggregated revenue by revenue source for the three March 31, 2018 ( Commercial vehicle sales revenue $ 773,100 Parts revenue 223,354 Commercial vehicle repair service revenue 176,941 Finance revenue 2,336 Insurance revenue 2,405 Other revenue 5,121 Total revenue $ 1,183,257 All of the Company's performance obligations and associated revenues are generally transferred to customers at a point in time. The Company does not March 31, 2018. For the sale of new and commercial vehicles, revenue is recognized at a point in time when control is transferred to the customer, which is when delivery of the commercial vehicle occurs. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring the commercial vehicle. When control is transferred to the customer, the Company has an unconditional right to payment and a receivable is recorded for any consideration not The Company controls the commercial vehicle before it is transferred to the customer and it obtains all of the remaining benefits from the commercial vehicle relating to the sale, ability to pledge the asset, or hold the asset. The Company is a principal in all commercial vehicle transactions. The Company retains inventory risk, determines the selling price to the customer, and delivers the commercial vehicle to the customer. The Company generally pays a commission to internal sales representatives for the sale of a commercial vehicle. The Company will continue to expense the commission and recognize it concurrently with the respective commercial vehicle sale revenue upon delivery of the commercial vehicle to a customer. Revenue from the sale of parts is recognized when the Company transfers control of the goods to the customer and consideration has been received in the form of cash or a receivable from the customer. We give our customers the right to return eligible parts, and we estimate the expected returns based on an analysis of historical experience and record an allowance for estimated returns, which has historically not Revenue from the sale of commercial vehicle repair service is recognized when the service performed by the Company on a customer’s vehicle is complete and the customer accepts the repairs. Since the Company does not no Any remaining performance obligations represent service orders for which work has not one 606 one The Company receives commissions from third no not The Company receives commissions from third no not Revenues from finance and insurance products are recorded at the net sales price (transaction price), which includes estimates of variable consideration for which reserves are established and which result from chargebacks if the contract term is not six not Other revenue is mostly documentation fees related to the sale of a truck that are charged to the customer and recognized as other revenue when a truck is sold. We recognize the documentation fees at a point in time when the truck is transferred to the customer.

Note 11 - ERP Platform

Note 11 - ERP Platform	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	1 1 – ERP Platform In February 2018, 2011. 350 40, The Company expects to replace certain components of its ERP Platform no May 2018. $19.9 February 2018 May 2018. first 2018, $10.2 $9.3 second 2018. $0.9

Note 4 - Earnings Per Share (Ta

Note 4 - Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2018 2017 Numerator: Numerator for basic and diluted earnings per share – Net income available to common shareholders $ 21,039 $ 14,479 Denominator– Denominator for basic earnings per share – weighted average shares outstanding 39,665 39,409 Effect of dilutive securities– Employee stock options and restricted stock awards 1,427 1,292 Denominator for basic earnings per share – adjusted weighted average shares outstanding and assumed conversions shares outstanding 41,092 40,701 Basic earnings per common share $ .53 $ .37 Diluted earnings per common share and common share equivalents $ .51 $ .36
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	March 31, 2018 March 31, 2017 Anti-dilutive options – weighted average 87 729

Note 6 - Financial Instrument18

Note 6 - Financial Instruments and Fair Value (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]	Description Fair Value Measurements Using Significant Unobservable Inputs March 31, 2018 Loss During the March 31, 2018 Loss During the March 31, 2017 Long-lived assets held for sale $ 7,645 $ (56 ) $ −

Note 7 - Segment Information (T

Note 7 - Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Truck Segment All Other Totals As of and for the three months ended March 31, 201 8 Revenues from external customers $ 1,236,652 $ 4,129 $ 1,240,781 Segment operating income 32,360 29 32,389 Segment income (loss) before taxes 28,103 (20 ) 28,083 Segment assets 2,864,504 34,700 2,899,204 As of and for the three months ended March 31, 201 7 Revenues from external customers $ 1,040,853 $ 3,944 $ 1,044,797 Segment operating income (loss) 24,994 (145 ) 24,849 Segment income (loss) before taxes 22,244 (186 ) 22,058 Segment assets 2,603,945 35,616 2,639,561

Note 9 - Accumulated Other Co20

Note 9 - Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Available for Sale Securities Balance as of December 31, 2017 $ − Change in fair value − Income tax expense − Balance at March 31, 2018 $ − Available for Sale Securities Balance as of December 31, 2016 $ (286 ) Change in fair value − Income tax expense − Balance at March 31, 2017 $ (286 )

Note 10 - New Accounting Pron21

Note 10 - New Accounting Pronouncements (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Disaggregation of Revenue [Table Text Block]	Commercial vehicle sales revenue $ 773,100 Parts revenue 223,354 Commercial vehicle repair service revenue 176,941 Finance revenue 2,336 Insurance revenue 2,405 Other revenue 5,121 Total revenue $ 1,183,257

Note 2 - Other Assets (Details

Note 2 - Other Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Capitalized Computer Software, Net, Ending Balance	$ 22,000
Capitalized Computer Software, Accumulated Amortization	31,100
Capitalized Computer Software, Amortization	11,100	$ 900	$ 900
Indefinite-Lived Franchise Rights	7,000	$ 7,000
Goodwill and Intangible Asset Impairment, Total	0
Components of ERP Platform Rquired Replacement [Member]
Capitalized Computer Software, Amortization	$ 10,200

Note 4 - Earnings Per Share - E

Note 4 - Earnings Per Share - Earnings Per Share Calculation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Numerator for basic and diluted earnings per share – Net income available to common shareholders	$ 21,039	$ 14,479
Denominator for basic earnings per share – weighted average shares outstanding (in shares)	39,665	39,409
Effect of dilutive securities– Employee stock options and restricted stock awards (in shares)	1,427	1,292
Denominator for basic earnings per share – adjusted weighted average shares outstanding and assumed conversions shares outstanding (in shares)	41,092	40,701
Basic earnings per common share (in dollars per share)	$ 0.53	$ 0.37
Diluted earnings per common share and common share equivalents (in dollars per share)	$ 0.51	$ 0.36

Note 4 - Earnings Per Share - A

Note 4 - Earnings Per Share - Anti-dilutive Securities (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Anti-dilutive options – weighted average (in shares)	87	729

Note 5 - Stock Options and Re25

Note 5 - Stock Options and Restricted Stock Awards (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Effective Income Tax Rate Reconciliation, Share-based Compensation, Excess Tax Benefit, Amount	$ 22,000	$ (1,100,000)
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 12,200,000
Employee Stock Option [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years 219 days
Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 73 days
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	$ 13,100,000
Selling, General and Administrative Expenses [Member] | Employee Stock Option [Member]
Allocated Share-based Compensation Expense, Total	$ 7,900,000	$ 4,800,000

Note 6 - Financial Instrument26

Note 6 - Financial Instruments and Fair Value (Details Textual)	1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 28, 2018USD ($)	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2011USD ($)	Mar. 31, 2018USD ($)
Asset Impairment Charges, Total			$ 469,000			$ 427,000	$ 1,000,000
Impairment of Real Estate				$ 7,500,000
Number of Real Estate Properties Sold During Period	1		3	4
Real Estate Held-for-sale	$ 1,900,000		$ 2,200,000	$ 6,100,000
Number of Real Estate Properties Put Back into Service		1
Real Estate Previously Held-for-sale Put Back Into Service		$ 1,400,000
Auction Rate Securities [Member]
Debt Securities, Available-for-sale, Total			6,400,000					$ 6,400,000
Debt Securities, Available-for-sale, Amortized Cost, Total			6,400,000					$ 6,400,000
Auction Rate Securities Redeemed			325,000	$ 450,000	$ 275,000	$ 150,000
Derivative, Basis Spread on Variable Rate								2.25%
Auction Rate Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Debt Securities, Available-for-sale, Total			$ 6,400,000					$ 6,400,000

Note 6 - Financial Instrument27

Note 6 - Financial Instruments and Fair Value - Pre-tax Effect of Interest Rate Swaps (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Long-lived assets held for sale, fair value	$ 7,645
Long-lived assets held for sale, gain (loss) included in earnings	$ (56)

Note 7 - Segment Information (D

Note 7 - Segment Information (Details Textual)	3 Months Ended
	Mar. 31, 2018
Truck Segment [Member]
Number of Reportable Segments	1
Other Segments [Member]
Number of Operating Segments	3

Note 7 - Segment Information -

Note 7 - Segment Information - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Revenues from external customers	$ 1,240,781	$ 1,044,797
Segment operating income	32,389	24,849
Segment income (loss) before taxes	28,083	22,058
Segment assets	2,899,204	2,639,561	$ 2,890,139
Truck Segment [Member]
Revenues from external customers	1,236,652	1,040,853
Segment operating income	32,360	24,994
Segment income (loss) before taxes	28,103	22,244
Segment assets	2,864,504	2,603,945
Other Segments [Member]
Revenues from external customers	4,129	3,944
Segment operating income	29	(145)
Segment income (loss) before taxes	(20)	(186)
Segment assets	$ 34,700	$ 35,616

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual) - USD ($)	Dec. 22, 2017	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Unrecognized Tax Benefits that Would Impact Effective Tax Rate		$ 2,600,000			$ 2,600,000
Unrecognized Tax Benefits, Income Tax Penalties Accrued		0
Unrecognized Tax Benefits, Interest on Income Taxes Accrued		166,000			166,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability					$ (82,900,000)
Effective Income Tax Rate Reconciliation, Share-based Compensation, Excess Tax Benefit, Amount		$ 22,000	$ (1,100,000)
Domestic Tax Authority [Member] | Earliest Tax Year [Member]
Open Tax Year		2,014
Domestic Tax Authority [Member] | Latest Tax Year [Member]
Open Tax Year		2,017
State and Local Jurisdiction [Member] | Earliest Tax Year [Member]
Open Tax Year		2,013
State and Local Jurisdiction [Member] | Latest Tax Year [Member]
Open Tax Year		2,017
Scenario, Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent				21.00%

Note 9 - Accumulated Other Co31

Note 9 - Accumulated Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Balance	$ 1,040,373
Balance	1,031,669
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Balance		$ (286)
Change in fair value
Income tax expense
Balance		$ (286)

Note 10 - New Accounting Pron32

Note 10 - New Accounting Pronouncements - Disaggrgated Revenue by Revenue Source (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue	$ 1,183,257
Commercial Vehicle [Member]
Revenue	773,100
Parts [Member]
Revenue	223,354
Commercial Vehicle Repair Service [Member]
Revenue	176,941
Financial Service [Member]
Revenue	2,336
Insurance [Member]
Revenue	2,405
Product and Service, Other [Member]
Revenue	$ 5,121	$ 3,565

Note 11 - ERP Platform (Details

Note 11 - ERP Platform (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Capitalized Computer Software, Net, Ending Balance		$ 22,000
Capitalized Computer Software, Amortization		11,100	$ 900	$ 900
Components of ERP Platform Rquired Replacement [Member]
Capitalized Computer Software, Amortization		10,200
Components of ERP Platform Rquired Replacement [Member] | Scenario, Forecast [Member]
Capitalized Computer Software, Amortization	$ 9,300
Components of ERP Platform Rquired Replacement [Member] | Other Assets [Member]
Capitalized Computer Software, Net, Ending Balance		$ 19,900