Rush Enterprises (RUSHA) 10-Q 9 Nov 22 2022 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Oct. 31, 2022
Document Information [Line Items]
Entity Central Index Key	0001012019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	0-20797
Entity Registrant Name	RUSH ENTERPRISES, INC.
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	74-1733016
Entity Address, Address Line One	555 I.H. 35 South, Suite 500
Entity Address, City or Town	New Braunfels
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78130
City Area Code	830
Local Phone Number	302-5200
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
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,092,098
Title of 12(b) Security	Class B Common Stock, $0.01 par value
Trading Symbol	RUSHB
Security Exchange Name	NASDAQ
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		42,344,760
Title of 12(b) Security	Class A Common Stock, $0.01 par value
Trading Symbol	RUSHA
Security Exchange Name	NASDAQ

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 219,519	$ 148,146
Accounts receivable, net	220,832	140,186
Inventories, net	1,351,930	1,020,136
Prepaid expenses and other	17,075	15,986
Total current assets	1,809,356	1,324,454
Property and equipment, net	1,351,968	1,278,207
Operating lease right-of-use assets, net	103,652	69,008
Goodwill, net	415,754	370,331
Other assets, net	61,849	77,977
Total assets	3,742,579	3,119,977
Current liabilities:
Floor plan notes payable	935,785	630,731
Current maturities of finance lease obligations	28,165	26,695
Current maturities of operating lease obligations	15,176	12,096
Trade accounts payable	185,695	122,291
Customer deposits	91,188	80,561
Accrued expenses	163,374	131,130
Total current liabilities	1,419,383	1,003,504
Long-term debt, net of current maturities	307,065	334,926
Finance lease obligations, net of current maturities	82,613	89,835
Operating lease obligations, net of current maturities	89,729	57,976
Other long-term liabilities	19,376	26,514
Deferred income taxes, net	148,394	140,473
Shareholders’ equity:
Preferred stock, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2022 and 2021	0	0
Common stock, par value $.01 per share; 60,000,000 Class A shares and 20,000,000 Class B shares authorized; 42,373,737 Class A shares and 12,092,098 Class B shares outstanding in 2022; and 43,018,498 Class A shares and 12,474,589 Class B shares outstanding in 2021	571	563
Additional paid-in capital	494,703	470,750
Treasury stock, at cost: 1,493,121 Class A shares and 1,103,433 Class B shares in 2022; and 183,765 Class A shares and 416,069 Class B shares in 2021	(123,781)	(36,933)
Retained earnings	1,291,602	1,031,582
Accumulated other comprehensive income (loss)	(5,637)	787
Total Rush Enterprises, Inc. shareholders’ equity	1,657,458	1,466,749
Noncontrolling interest	18,561
Total shareholders’ equity	1,676,019	1,466,749
Total liabilities and shareholders’ equity	$ 3,742,579	$ 3,119,977

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited)-parentheticals (Parentheticals) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Class A [Member]
Common stock, shares authorized (in shares)	60,000,000	60,000,000
Common stock, shares outstanding (in shares)	42,373,737	43,018,498
Treasury stock, shares (in shares)	1,493,121	183,765
Common Class B [Member]
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares outstanding (in shares)	12,092,098	12,474,589
Treasury stock, shares (in shares)	1,103,433	416,069

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues
Revenue	$ 1,778,598	$ 1,203,832	$ 4,981,168	$ 3,632,030
Lease and rental sales	85,688	62,689	237,561	182,312
Total revenue	1,864,286	1,266,521	5,218,729	3,814,342
Cost of products sold
Lease and rental sales	58,482	46,949	162,378	143,394
Total cost of products sold	1,482,888	984,226	4,117,675	3,016,451
Gross profit	381,398	282,295	1,101,054	797,891
Selling, general and administrative expense	242,609	179,890	692,383	539,579
Depreciation and amortization expense	13,961	13,137	41,545	40,284
Gain on sale of assets	2,209	901	2,433	1,157
Operating income	127,037	90,169	369,559	219,185
Other (expense) income	(215)	1,951	22,182	4,616
Interest expense, net	6,275	271	10,662	566
Income before taxes	120,547	91,849	381,079	223,235
Income tax provision	29,884	22,450	87,290	50,459
Net income	90,663	69,399	293,789	172,776
Less: Net income attributable to noncontrolling interest	287		733
Net income attributable to Rush Enterprises, Inc.	$ 90,376	$ 69,399	$ 293,056	$ 172,776
Net income attributable to Rush Enterprises, Inc. per share of common stock:
Basic (in dollars per share)	$ 1.64	$ 1.24	$ 5.27	$ 3.09
Diluted (in dollars per share)	$ 1.59	$ 1.20	$ 5.11	$ 2.99
Weighted average shares outstanding:
Basic (in shares)	55,232	56,007	55,601	55,882
Diluted (in shares)	56,875	57,806	57,363	57,834
Dividends declared per common share (in dollars per share)	$ 0.21	$ 0.19	$ 0.59	$ 0.55
New and Used Commercial Vehicle [Member]
Revenues
Revenue	$ 1,142,201	$ 729,344	$ 3,176,175	$ 2,274,332
Cost of products sold
Cost of products sold	1,045,658	656,411	2,875,057	2,053,271
Parts and Service [Member]
Revenues
Revenue	622,130	463,020	1,763,691	1,324,283
Cost of products sold
Cost of products sold	378,748	280,866	1,080,240	819,786
Finance and Insurance [Member]
Revenues
Revenue	7,639	6,851	22,919	20,723
Product and Service, Other [Member]
Revenues
Revenue	$ 6,628	$ 4,617	$ 18,383	$ 12,692

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net income	$ 90,663	$ 69,399	$ 293,789	$ 172,776
Other comprehensive income (loss), net of tax:
Foreign currency translation	(5,701)	(471)	(5,823)	96
Reclassification of currency translation related to equity method accounting			(601)
Other comprehensive income (loss) attributable to Rush Enterprises, Inc.	(5,701)	(471)	(6,424)	96
Comprehensive income	84,962	68,928	287,365	172,872
Less: Comprehensive income attributable to noncontrolling interest	287		733
Comprehensive income attributable to Rush Enterprises, Inc.	$ 84,675	$ 68,928	$ 286,632	$ 172,872

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member] Common Class A [Member]	Common Stock [Member] Common Class B [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member] Common Class A [Member]	Retained Earnings [Member] Common Class B [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Parent [Member] Common Class A [Member]	Parent [Member] Common Class B [Member]	Parent [Member]	Noncontrolling Interest [Member]	Common Class A [Member]	Common Class B [Member]	Total
Balance (in shares) at Dec. 31, 2020	42,504	12,470
Balance at Dec. 31, 2020			$ 551	$ 437,646	$ (2,879)			$ 831,850	$ 869			$ 1,268,037				$ 1,268,037
Stock options exercised and stock awards (in shares)	298
Stock options exercised and stock awards			3	5,416								5,419				5,419
Stock-based compensation related to stock options, restricted shares and employee stock purchase plan				11,520								11,520				11,520
Vesting of restricted share awards (in shares)		345
Vesting of restricted share awards			3	(6,780)								(6,777)				(6,777)
Issuance of common stock under employee stock purchase plan (in shares)	86
Issuance of common stock under employee stock purchase plan			1	1,988								1,989				1,989
Common stock repurchases (in shares)	(3)	(155)
Common stock repurchases					(6,483)							(6,483)				(6,483)
Dividend common stock						$ (7,684)	$ (2,380)			$ (7,684)	$ (2,380)			$ (7,684)	$ (2,380)
Net income								45,333				45,333				45,333
Other comprehensive income									255			255				255
Balance (in shares) at Mar. 31, 2021	42,885	12,660
Balance at Mar. 31, 2021			558	449,790	(9,362)			867,119	1,124			1,309,229				1,309,229
Balance (in shares) at Dec. 31, 2020	42,504	12,470
Balance at Dec. 31, 2020			551	437,646	(2,879)			831,850	869			1,268,037				1,268,037
Foreign currency translation																96
Net income																172,776
Balance (in shares) at Sep. 30, 2021	43,018	12,475
Balance at Sep. 30, 2021			561	462,406	(24,814)			973,665	965			1,412,783				1,412,783
Balance (in shares) at Mar. 31, 2021	42,885	12,660
Balance at Mar. 31, 2021			558	449,790	(9,362)			867,119	1,124			1,309,229				1,309,229
Stock options exercised and stock awards (in shares)	219
Stock options exercised and stock awards			2	3,926								3,928				3,928
Stock-based compensation related to stock options, restricted shares and employee stock purchase plan				3,683								3,683				3,683
Vesting of restricted share awards				(614)								(614)				(614)
Common stock repurchases (in shares)		(99)
Common stock repurchases					(4,223)							(4,223)				(4,223)
Dividend common stock						(7,735)	(2,425)			(7,735)	(2,425)			(7,735)	(2,425)
Net income								58,044				58,044				58,044
Other comprehensive income									312			312				312
Balance (in shares) at Jun. 30, 2021	43,104	12,561
Balance at Jun. 30, 2021			560	456,785	(13,585)			915,003	1,436			1,360,199				1,360,199
Stock options exercised and stock awards (in shares)	22
Stock options exercised and stock awards				371								371				371
Stock-based compensation related to stock options, restricted shares and employee stock purchase plan				3,144								3,144				3,144
Vesting of restricted share awards (in shares)		2
Vesting of restricted share awards				(53)								(53)				(53)
Issuance of common stock under employee stock purchase plan (in shares)	63
Issuance of common stock under employee stock purchase plan			1	2,159								2,160				2,160
Common stock repurchases (in shares)	(171)	(88)
Common stock repurchases					(11,229)							(11,229)				(11,229)
Dividend common stock						(8,199)	(2,538)			(8,199)	(2,538)			(8,199)	(2,538)
Foreign currency translation																(471)
Net income								69,399				69,399				69,399
Other comprehensive income									(471)			(471)				(471)
Balance (in shares) at Sep. 30, 2021	43,018	12,475
Balance at Sep. 30, 2021			561	462,406	(24,814)			973,665	965			1,412,783				1,412,783
Balance (in shares) at Dec. 31, 2021	43,108	12,399
Balance at Dec. 31, 2021			563	470,750	(36,933)			1,031,582	787			1,466,749				1,466,749
Stock options exercised and stock awards (in shares)	112
Stock options exercised and stock awards			1	2,384								2,385				2,385
Stock-based compensation related to stock options, restricted shares and employee stock purchase plan				13,793								13,793				13,793
Vesting of restricted share awards (in shares)		302
Vesting of restricted share awards			3	(7,215)								(7,212)				(7,212)
Issuance of common stock under employee stock purchase plan (in shares)	66
Issuance of common stock under employee stock purchase plan			1	2,434								2,435				2,435
Common stock repurchases (in shares)	(192)	(104)
Common stock repurchases					(15,315)							(15,315)				(15,315)
Dividend common stock						(8,189)	(2,505)			(8,189)	(2,505)			(8,189)	(2,505)
Foreign currency translation									445			445				445
Net income								92,453				92,453				92,453
Balance (in shares) at Mar. 31, 2022	43,094	12,597
Balance at Mar. 31, 2022			568	482,146	(52,248)			1,113,341	1,232			1,545,039				1,545,039
Balance (in shares) at Dec. 31, 2021	43,108	12,399
Balance at Dec. 31, 2021			563	470,750	(36,933)			1,031,582	787			1,466,749				1,466,749
Foreign currency translation																(5,823)
Net income																293,789
Balance (in shares) at Sep. 30, 2022	42,374	12,092
Balance at Sep. 30, 2022			571	494,703	(123,781)			1,291,602	(5,637)			1,657,458	$ 18,561			1,676,019
Balance (in shares) at Mar. 31, 2022	43,094	12,597
Balance at Mar. 31, 2022			568	482,146	(52,248)			1,113,341	1,232			1,545,039				1,545,039
Stock options exercised and stock awards (in shares)	162
Stock options exercised and stock awards			2	3,244								3,246				3,246
Stock-based compensation related to stock options, restricted shares and employee stock purchase plan				4,203								4,203				4,203
Vesting of restricted share awards				(1,423)								(1,423)				(1,423)
Common stock repurchases (in shares)	(448)	(331)
Common stock repurchases					(38,438)							(38,438)				(38,438)
Dividend common stock						(8,128)	(2,521)			(8,128)	(2,521)			(8,128)	(2,521)
Foreign currency translation									(567)			(567)				(567)
Net income								110,227				110,227	446			110,673
Reclassification of foreign currency translation related to equity method									(601)			(601)				(601)
Noncontrolling interest equity													17,828			17,828
Balance (in shares) at Jun. 30, 2022	42,808	12,266
Balance at Jun. 30, 2022			570	488,170	(90,686)			1,212,919	64			1,611,037	18,274			1,629,311
Stock options exercised and stock awards (in shares)	11
Stock options exercised and stock awards				227								227				227
Stock-based compensation related to stock options, restricted shares and employee stock purchase plan				3,554								3,554				3,554
Vesting of restricted share awards (in shares)		2
Vesting of restricted share awards				(31)								(31)				(31)
Issuance of common stock under employee stock purchase plan (in shares)	68
Issuance of common stock under employee stock purchase plan			1	2,783								2,784				2,784
Common stock repurchases (in shares)	(513)	(176)
Common stock repurchases					(33,095)							(33,095)				(33,095)
Dividend common stock						$ (8,995)	$ (2,698)			$ (8,995)	$ (2,698)			$ (8,995)	$ (2,698)
Foreign currency translation									(5,701)			(5,701)				(5,701)
Net income								90,376				90,376	287			90,663
Balance (in shares) at Sep. 30, 2022	42,374	12,092
Balance at Sep. 30, 2022			$ 571	$ 494,703	$ (123,781)			$ 1,291,602	$ (5,637)			$ 1,657,458	$ 18,561			$ 1,676,019

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income	$ 293,789	$ 172,776
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	146,477	126,691
Gain on sale of property and equipment	(2,433)	(1,157)
Gain on joint venture transaction	(12,500)
Gain on business acquisition	(6,958)
Stock-based compensation expense related to stock options and employee stock purchases	21,550	18,347
Deferred income tax benefit	7,921	(23,029)
Change in accounts receivable, net	(75,066)	23,200
Change in inventories, net	(264,687)	147,254
Change in prepaid expenses and other, net	875	(107)
Change in trade accounts payable	44,069	16,676
Change in customer deposits	9,650	(30,386)
Change in accrued expenses	25,464	(8,403)
Other, net	4,832	3,217
Net cash provided by operating activities	183,319	438,645
Cash flows from investing activities:
Acquisition of property and equipment	(175,243)	(122,318)
Proceeds from the sale of property and equipment	7,014	2,576
Business disposition	27,500
Business acquisition, net of cash acquired	(15,754)
Other	(11,691)	(1,610)
Net cash used in investing activities	(168,174)	(121,352)
Cash flows from financing activities:
Draws (payments) on floor plan notes payable – non-trade, net	277,261	(157,440)
Proceeds from long-term debt	695,169	66,430
Principal payments on long-term debt	(788,757)	(222,216)
Principal payments on finance lease obligations	(11,091)	(10,620)
Proceeds from issuance of shares relating to employee stock options and employee stock purchases	11,080	13,870
Taxes paid related to net share settlement of equity awards	(8,669)	(7,447)
Payments of cash dividends	33,123	30,499
Common stock repurchased	(85,270)	(21,726)
Net cash provided by (used in) financing activities	56,600	(369,648)
Net increase (decrease) in cash and cash equivalents	71,745	(52,355)
Effect of exchange rate on cash	(372)
Cash and cash equivalents, beginning of period	148,146	312,048
Cash and cash equivalents, end of period	219,519	259,693
Supplemental disclosure of cash flow information:
Interest	12,966	19,805
Income taxes, net of refunds	74,320	92,795
Assets acquired under finance leases	$ 14,290	$ 21,442

Note 1 - Principles of Consolid

Note 1 - Principles of Consolidation and Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1 Principles of Consolidation and Basis of Presentation 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-K for the year ended December 31, 2021. Results of operations for interim periods are not necessarily indicative of results that may be expected for any other interim periods or the full fiscal year. Recent Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, “ Reference Rate Reform (Topic 848), COVID-19 Risks and Uncertainties While business conditions have improved significantly since the onset of the COVID-19 pandemic in the second quarter of 2020, our industry continues to be impacted by supply chain issues generally attributable to the COVID-19 pandemic that are negatively affecting new commercial vehicle production and the availability of aftermarket parts. The Company is unable to predict the impact that the COVID-19 pandemic will have on its future business and operating results due to numerous uncertainties, including the duration of the COVID-19 pandemic and its effect on global economic trends and the various supply chains serving the commercial vehicle industry. Foreign Currency Transactions The functional currency of the Company’s foreign subsidiary, Rush Truck Centres of Canada Limited (“RTC Canada”), is the local currency. Results of operations for RTC Canada are translated to USD using the average exchange rate on a monthly basis during each quarter. The assets and liabilities of RTC Canada are translated into USD using the exchange rate in effect on the balance sheet date. The related translation adjustments are recorded as a separate component of the Company’s Consolidated Statements of Shareholders’ Equity in accumulated other comprehensive income (loss).

Note 2 - Other Assets

Note 2 - Other Assets	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Other Assets Disclosure [Text Block]	2 Other Assets Equity Method Investment On February 25, 2019, the Company acquired 50% of the equity interest in RTC Canada, which acquired the operating assets of Tallman Group, the largest International Truck dealer in Canada. Prior to acquiring an additional 30% equity interest on May 2, 2022, for approximately $20.0 million, the Company accounted for the equity interest in RTC Canada using the equity method of accounting. Now that the Company owns an 80% equity interest in RTC Canada, the operating results of RTC Canada are consolidated in the Consolidated Statements of Income, the Consolidated Statements of Comprehensive Income and the Consolidated Balance Sheets, as of May 2, 2022. See Note 13 – Acquisitions in the Notes to the Financial Statements for further discussion. On January 3, 2022, a subsidiary of Cummins, Inc. acquired a 50% equity interest in Natural Gas Fuel Systems, LLC (“NGFS”) from the Company for $27.5 million. NGFS previously conducted business as Momentum Fuel Technologies. The $12.5 million gain realized on the transaction is included in Other income on the Consolidated Statements of Income. The Company is accounting for the business as a joint venture and recognizes the investment using the equity method. As of September 30, 2022, the Company’s investment in NGFS was $14.4 million. The Company’s equity income in NGFS is included in the line item Other income on the Consolidated Statements of Income.

Note 3 - Commitments and Contin

Note 3 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	3 Commitments and Contingencies 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. However, an uninsured or partially insured claim, or claim for which indemnification is not available, could have a material adverse effect on the Company’s financial condition or results of operations. As of September 30, 2022, the Company believes that there are no pending claims or litigation, individually or in the aggregate, that are reasonably likely to have a material adverse effect on its financial position or results of operations. However, due to the inherent uncertainty of litigation, there can be no assurance that the resolution of any particular claim or proceeding would not have a material adverse effect on the Company’s financial condition or results of operations for the fiscal period in which such resolution occurred.

Note 4 - Earnings Per Share

Note 4 - Earnings Per Share	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	4 Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share information): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Numerator: Numerator for basic and diluted earnings per share –Net income available to common shareholders $ 90,376 $ 69,399 $ 293,056 $ 172,776 Denominator: Denominator for basic earnings per share – weighted average shares outstanding 55,232 56,007 55,601 55,882 Effect of dilutive securities– Employee and director stock options and restricted share awards 1,643 1,799 1,762 1,952 Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions 56,875 57,806 57,363 57,834 Basic earnings per common share $ 1.64 $ 1.24 $ 5.27 $ 3.09 Diluted earnings per common share and common share equivalents $ 1.59 $ 1.20 $ 5.11 $ 2.99 Options to purchase shares of common stock that were outstanding for the three months and nine months ended September 30, 2022 and 2021 that were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Weighted average anti-dilutive options 1,000 624 841 460

Note 5 - Stock Options and Rest

Note 5 - Stock Options and Restricted Stock Awards	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	5 Stock Options and Restricted Stock Awards Valuation and Expense Information The Company accounts for stock-based compensation in accordance with Accounting Standards Codification (“ASC”) 718-10, Compensation Stock Compensation, Stock-based compensation expense, calculated using the Black-Scholes option-pricing model for employee stock options, and included in selling, general and administrative expense, was $3.6 million for the three months ended September 30, 2022, and $3.1 million for the three months ended September 30, 2021. Stock-based compensation expense was $21.5 million for the nine months ended September 30, 2022, and $18.3 million for the nine months ended September 30, 2021. As of September 30, 2022, the Company had $11.8 million of unrecognized compensation expense related to non-vested employee stock options to be recognized over a weighted-average period of 2.3 years and $12.9 million of unrecognized compensation cost related to non-vested restricted stock awards to be recognized over a weighted-average period of 1.4 years.

Note 6 - Financial Instruments

Note 6 - Financial Instruments and Fair Value	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Fair Value Disclosures [Text Block]	6 Financial Instruments and Fair Value The Company measures certain financial assets and liabilities at fair value on a recurring basis. 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 as of September 30, 2022, and December 31, 2021. Thus, the carrying value of current assets and current liabilities approximates the fair value due to the short maturity of these items. The fair value of the Company’s long-term debt is based on secondary market indicators. Because the Company’s debt is not quoted, estimates are based on each obligation’s characteristics, including remaining maturities, variable interest rate, credit rating, collateral and liquidity. Accordingly, the Company concluded that the valuation measurement inputs of its long-term debt represent, at its lowest level, current market interest rates available to the Company for similar debt and the Company’s current credit standing. The carrying amount of such debt approximates fair value.

Note 7 - Segment Information

Note 7 - Segment Information	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	7 Segment Information The Company currently has one The Company also has revenues attributable to three 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 including extraordinary items. The following table contains summarized information about reportable segment revenues, segment income or loss from continuing operations and segment assets for the periods ended September 30, 2022 and 2021 (in thousands): Truck Segment All Other Total As of and for the three months ended September 30, 2022 Revenues from external customers $ 1,859,823 $ 4,463 $ 1,864,286 Segment operating income 126,770 267 127,037 Segment income before taxes 120,373 174 120,547 Segment assets 3,688,151 54,428 3,742,579 For the nine months ended September 30, 2022 Revenues from external customers $ 5,205,802 $ 12,927 $ 5,218,729 Segment operating income 368,596 963 369,559 Segment income before taxes 380,397 682 381,079 As of and for the three months ended September 30, 2021 Revenues from external customers $ 1,261,885 $ 4,636 $ 1,266,521 Segment operating income 89,841 328 90,169 Segment income before taxes 91,595 254 91,849 Segment assets 2,722,614 54,715 2,777,329 For the nine months ended September 30, 2021 Revenues from external customers $ 3,801,675 $ 12,667 $ 3,814,342 Segment operating income 217,953 1,232 219,185 Segment income before taxes 222,218 1,017 223,235

Note 8 - Income Taxes

Note 8 - Income Taxes	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	8 Income Taxes The Company had unrecognized income tax benefits totaling $4.3 million as a component of accrued liabilities as of September 30, 2022 and December 31, 2021, the total of which, if recognized, would impact the Company’s effective tax rate. An unfavorable settlement may require a charge to income tax expense and a favorable resolution would be recognized as a reduction to income tax expense. The Company recognizes interest accrued related to unrecognized tax benefits in income tax expense. The Company had approximately $279,000 accrued for the payment of interest as of September 30, 2022 and December 31, 2021. No amounts were accrued for penalties. The Company does not anticipate a significant change in the amount of unrecognized tax benefits in the next 12 months. As of September 30, 2022, the tax years ended December 31, 2018 through 2021 2021

Note 9 - Revenue

Note 9 - Revenue	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	9 Revenue 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 from 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, excluding lease and rental revenue, for the three months and nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Commercial vehicle sales revenue $ 1,142,201 $ 729,344 $ 3,176,175 $ 2,274,332 Parts revenue 373,207 274,551 1,080,552 778,479 Commercial vehicle repair service revenue 248,923 188,469 683,139 545,804 Finance revenue 4,113 3,757 13,211 12,210 Insurance revenue 3,526 3,094 9,708 8,513 Other revenue 6,628 4,617 18,383 12,692 Total $ 1,778,598 $ 1,203,832 $ 4,981,168 $ 3,632,030 All of the Company's performance obligations and associated revenues are generally transferred to customers at a point in time. The Company did not have any material contract assets or contract liabilities on the balance sheet as of September 30, 2022 or December 31, 2021. Revenues related to commercial vehicle sales, parts sales, commercial vehicle repair service, finance and the majority of other revenues are related to the Truck Segment.

Note 10 - Leases

Note 10 - Leases	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Leases of Lessee and Lessor Disclosure [Text Block]	10 Leases Lease of Vehicles as Lessor The Company primarily leases commercial vehicles that it owns to customers over periods of one ten The Company’s policy is to depreciate its lease and rental fleet using a straight-line method over each customer’s contractual lease term. The lease unit is depreciated to a residual value that approximates fair value at the expiration of the lease term. This policy results in the Company realizing reasonable gross margins while the unit is in service and a corresponding gain or loss on sale when the unit is sold at the end of the lease term. Sales-type leases are recognized by the Company as lease receivables. The lessee obtains control of the underlying asset and the Company recognizes sales revenue upon lease commencement. The receivable for sales-type leases as of September 30, 2022 was $6.1 million, compared to $5.4 million as of December 31, 2021, and is reflected in the line item Other assets on the Consolidated Balance Sheet. Lease and rental income during the three and nine months ended September 30, 2022, and September 30, 2021, consisted of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Minimum rental payments $ 73,797 $ 54,267 $ 205,070 $ 157,919 Nonlease payments 11,891 8,422 32,491 24,393 Total $ 85,688 $ 62,689 $ 237,561 $ 182,312

Note 11 - Accumulated Other Com

Note 11 - Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	11 Accumulated Other Comprehensive Income (Loss) The following table shows the components of accumulated other comprehensive income (loss) (in thousands): Balance as of December 31, 2021 $ 787 Foreign currency translation adjustment 445 Balance as of March 31, 2022 1,232 Reclassification of currency translation related to equity method of RTC Canada (601 ) Foreign currency translation adjustment (567 ) Balance as of June 30, 2022 64 Foreign currency translation adjustment (5,701 ) Balance as of September 30, 2022 $ (5,637 ) The functional currency of the Company’s foreign subsidiary, RTC Canada, is its local currency. Results of operations of RTC Canada are translated in USD using the average exchange rates on a monthly basis during the year. The assets and liabilities of RTC Canada are translated into USD using the exchange rates in effect on the balance sheet date. The related translation adjustments are recorded in a separate component of stockholders' equity in accumulated other comprehensive loss. The Company reclassified the foreign currency translation adjustment related to its previously held equity investment in RTC Canada into net income upon its acquisition of a majority equity interest according to ASC 830-30, Foreign Currency Matters.

Note 12 - Accounts Receivable a

Note 12 - Accounts Receivable and Allowance for Credit Losses	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	12 Accounts Receivable and Allowance for Credit Losses The Company establishes an allowance for credit losses to present the net amount of accounts receivable expected to be collected. Under Accounting Standards Update No. 2016-13, Financial Instruments Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Accounts receivable consists primarily of commercial vehicle sales receivables, manufacturers’ receivables, leasing and rental receivables, parts and service receivables and other trade receivables. The Company maintains an allowance for credit losses based on the probability of default, its historical rate of losses, aging and current economic conditions. The Company writes off account balances when it has exhausted reasonable collection efforts and determined that the likelihood of collection is remote. These write-offs are charged against the allowance for credit losses. The following table summarizes the changes in the allowance for credit losses (in thousands): Balance December 31, 2021 Provision for the Nine Months Ended September 30, 2022 Write offs Against Allowance, net of Recoveries Balance September 30, 2022 Commercial vehicle receivables $ 76 $ 105 $ − $ 181 Manufacturers’ receivables 419 1,368 (1,203 ) 584 Leasing, parts and service receivables 1,069 2,083 (1,486 ) 1,666 Other receivables 26 − (1 ) 25 Total $ 1,590 $ 3,556 $ (2,690 ) $ 2,456

Note 13 - Acquisitions

Note 13 - Acquisitions	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Business Combination Disclosure [Text Block]	13 Acquisitions On December 13, 2021, the Company completed the acquisition of certain of the assets of Summit Truck Group, LLC and certain of its subsidiaries and affiliates (collectively, “Summit”) which included full-service commercial vehicle dealerships and Idealease franchises in Arkansas, Kansas, Missouri, Tennessee and Texas. The acquisition included Summit’s dealerships representing International, IC Bus, Idealease, Isuzu and other commercial vehicle manufacturers for a purchase price of approximately $205.3 million, excluding the real property associated with the transaction. The Company financed approximately $102.0 million of the purchase price under its floor plan and lease and rental truck financing arrangements and the remainder of the purchase price was paid in cash. In addition, the Company purchased certain real property owned by Summit for a purchase price of approximately $57.0 million, which was paid in cash. The purchase price allocation has not yet been finalized for the Summit acquisition. The Company is currently working with Summit to obtain additional information that existed at the time of the acquisition related to property and equipment, inventory and valuation of intangible assets. Management has recorded the purchase price allocations based upon currently available information about Summit. The operations of Summit are included in the accompanying consolidated financial statements from the date of the acquisition. The preliminary purchase price was allocated based on the fair values of the assets and liabilities at the date of acquisition as follows (in thousands): Goodwill $ 74,413 Franchise rights 1,581 Inventory 72,070 Property and equipment, including real estate 113,306 Other 882 Total $ 262,252 In July 2022, the Company adjusted the preliminary purchase price for inventory by $0.7 million with a corresponding adjustment to goodwill. The goodwill of $74.4 million for the Summit acquisition is primarily attributable to the synergies expected to arise after the acquisition. The goodwill acquired in the Summit acquisition will be amortized over 15 years for tax purposes. On May 2, 2022, the Company completed the acquisition of an additional 30% equity interest in RTC Canada, resulting in an 80% controlling interest in RTC Canada. The acquisition was accounted for as an acquisition achieved in stages under ASC 805, Business Combinations As of May 2, 2022, the Company established a noncontrolling interest related to the minority holders. The fair value of the 20% noncontrolling interest in RTC Canada is estimated to be $17.8 million. The fair value of the noncontrolling interest was estimated using a combination of the income approach and a market approach. Since RTC Canada is a private company, the fair value measurement is based on significant inputs that are not observable in the market and thus represents a Level 3 measurement as defined in ASC 820, Fair Value Measurement The preliminary purchase price was allocated based on the fair values of the assets and liabilities at the date of acquisition as follows (in thousands): Cash $ 4,310 Accounts receivable 19,072 Inventory 56,255 Property and equipment, including real estate 80,337 Floor plan notes payable (30,501 ) Trade payables (19,978 ) Customer deposits (1,980 ) Accrued liabilities (7,875 ) Notes payable (69,545 ) Goodwill 47,939 Other 3,422 Equity investment in RTC Canada (37,309 ) Noncontrolling interest (17,828 ) Gain on equity method investment (6,958 ) Total $ 19,361 The purchase price allocation has not yet been finalized. The Company is currently working with RTC Canada to obtain additional information that existed at the time of the acquisition related to property and equipment, inventory and valuation of intangible assets. Management has recorded the purchase price allocations based upon currently available information about RTC Canada. The goodwill of $47.9 million for the RTC Canada acquisition is primarily attributable to the synergies expected to arise after obtaining a controlling interest in the entity. Prior to May 2, 2022, the Company accounted for its 50% equity interest in RTC Canada as an equity-method investment. Now that the Company owns an 80% equity interest, operations of RTC Canada are included in the accompanying consolidated financial statements as of May 2, 2022

Note 4 - Earnings Per Share (Ta

Note 4 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Numerator: Numerator for basic and diluted earnings per share –Net income available to common shareholders $ 90,376 $ 69,399 $ 293,056 $ 172,776 Denominator: Denominator for basic earnings per share – weighted average shares outstanding 55,232 56,007 55,601 55,882 Effect of dilutive securities– Employee and director stock options and restricted share awards 1,643 1,799 1,762 1,952 Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions 56,875 57,806 57,363 57,834 Basic earnings per common share $ 1.64 $ 1.24 $ 5.27 $ 3.09 Diluted earnings per common share and common share equivalents $ 1.59 $ 1.20 $ 5.11 $ 2.99
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Weighted average anti-dilutive options 1,000 624 841 460

Note 7 - Segment Information (T

Note 7 - Segment Information (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Truck Segment All Other Total As of and for the three months ended September 30, 2022 Revenues from external customers $ 1,859,823 $ 4,463 $ 1,864,286 Segment operating income 126,770 267 127,037 Segment income before taxes 120,373 174 120,547 Segment assets 3,688,151 54,428 3,742,579 For the nine months ended September 30, 2022 Revenues from external customers $ 5,205,802 $ 12,927 $ 5,218,729 Segment operating income 368,596 963 369,559 Segment income before taxes 380,397 682 381,079 As of and for the three months ended September 30, 2021 Revenues from external customers $ 1,261,885 $ 4,636 $ 1,266,521 Segment operating income 89,841 328 90,169 Segment income before taxes 91,595 254 91,849 Segment assets 2,722,614 54,715 2,777,329 For the nine months ended September 30, 2021 Revenues from external customers $ 3,801,675 $ 12,667 $ 3,814,342 Segment operating income 217,953 1,232 219,185 Segment income before taxes 222,218 1,017 223,235

Note 9 - Revenue (Tables)

Note 9 - Revenue (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Commercial vehicle sales revenue $ 1,142,201 $ 729,344 $ 3,176,175 $ 2,274,332 Parts revenue 373,207 274,551 1,080,552 778,479 Commercial vehicle repair service revenue 248,923 188,469 683,139 545,804 Finance revenue 4,113 3,757 13,211 12,210 Insurance revenue 3,526 3,094 9,708 8,513 Other revenue 6,628 4,617 18,383 12,692 Total $ 1,778,598 $ 1,203,832 $ 4,981,168 $ 3,632,030

Note 10 - Leases (Tables)

Note 10 - Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Leases, Lease Income [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Minimum rental payments $ 73,797 $ 54,267 $ 205,070 $ 157,919 Nonlease payments 11,891 8,422 32,491 24,393 Total $ 85,688 $ 62,689 $ 237,561 $ 182,312

Note 11 - Accumulated Other C_2

Note 11 - Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Balance as of December 31, 2021 $ 787 Foreign currency translation adjustment 445 Balance as of March 31, 2022 1,232 Reclassification of currency translation related to equity method of RTC Canada (601 ) Foreign currency translation adjustment (567 ) Balance as of June 30, 2022 64 Foreign currency translation adjustment (5,701 ) Balance as of September 30, 2022 $ (5,637 )

Note 12 - Accounts Receivable_2

Note 12 - Accounts Receivable and Allowance for Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Balance December 31, 2021 Provision for the Nine Months Ended September 30, 2022 Write offs Against Allowance, net of Recoveries Balance September 30, 2022 Commercial vehicle receivables $ 76 $ 105 $ − $ 181 Manufacturers’ receivables 419 1,368 (1,203 ) 584 Leasing, parts and service receivables 1,069 2,083 (1,486 ) 1,666 Other receivables 26 − (1 ) 25 Total $ 1,590 $ 3,556 $ (2,690 ) $ 2,456

Note 13 - Acquisitions (Tables)

Note 13 - Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Goodwill $ 74,413 Franchise rights 1,581 Inventory 72,070 Property and equipment, including real estate 113,306 Other 882 Total $ 262,252 Cash $ 4,310 Accounts receivable 19,072 Inventory 56,255 Property and equipment, including real estate 80,337 Floor plan notes payable (30,501 ) Trade payables (19,978 ) Customer deposits (1,980 ) Accrued liabilities (7,875 ) Notes payable (69,545 ) Goodwill 47,939 Other 3,422 Equity investment in RTC Canada (37,309 ) Noncontrolling interest (17,828 ) Gain on equity method investment (6,958 ) Total $ 19,361

Note 2 - Other Assets (Details

Note 2 - Other Assets (Details Textual) - USD ($) $ in Millions	May 02, 2022	Jan. 03, 2022	Sep. 30, 2022	Feb. 25, 2019
Rush Truck Centres of Canada Limited [Member]
Noncontrolling Interest, Ownership Percentage by Parent			80%
Rush Truck Centres of Canada Limited [Member]
Equity Method Investment, Ownership Percentage				50%
Payments to Acquire Equity Method Investments	$ 20
Rush Truck Centres of Canada Limited [Member] | Rush Truck Centres of Canada Limited [Member]
Business Acquisition, Percentage of Voting Interests Acquired	30%
Momentum Fuel Technologies [Member]
Equity Method Investment, Ownership Percentage		50%
Payments to Acquire Equity Method Investments		$ 27.5
Equity Method Investments			$ 14.4
Momentum Fuel Technologies [Member] | Other Income [Member]
Acquisition of Equity Method Investments, Realized Gain (Loss)		$ 12.5

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator for basic and diluted earnings per share –Net income available to common shareholders	$ 90,376	$ 69,399	$ 293,056	$ 172,776
Basic (in shares)	55,232	56,007	55,601	55,882
Effect of dilutive securities– Employee and director stock options and restricted share awards (in shares)	1,643	1,799	1,762	1,952
Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions (in shares)	56,875	57,806	57,363	57,834
Basic earnings per common share (in dollars per share)	$ 1.64	$ 1.24	$ 5.27	$ 3.09
Diluted earnings per common share and common share equivalents (in dollars per share)	$ 1.59	$ 1.20	$ 5.11	$ 2.99

Note 4 - Earnings Per Share - A

Note 4 - Earnings Per Share - Anti-dilutive Securities (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Weighted average anti-dilutive options (in shares)	1,000	624	841	460

Note 5 - Stock Options and Re_2

Note 5 - Stock Options and Restricted Stock Awards (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 11.8		$ 11.8
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			2 years 3 months 18 days
Share-Based Payment Arrangement, Option [Member] | Selling, General and Administrative Expenses [Member]
Share-Based Payment Arrangement, Expense	3.6	$ 3.1	$ 21.5	$ 18.3
Restricted Stock [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 12.9		$ 12.9
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			1 year 4 months 24 days

Note 7 - Segment Information (D

Note 7 - Segment Information (Details Textual)	9 Months Ended
	Sep. 30, 2022
Truck Segment [Member]
Number of Reportable Segments	1
Other Segments [Member]
Number of Reportable Segments	3

Note 7 - Segment Information -

Note 7 - Segment Information - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Revenues from external customers	$ 1,864,286	$ 1,266,521	$ 5,218,729	$ 3,814,342
Segment operating income	127,037	90,169	369,559	219,185
Segment income before taxes	120,547	91,849	381,079	223,235
Segment assets	3,742,579	2,777,329	3,742,579	2,777,329	$ 3,119,977
Truck Segment [Member]
Revenues from external customers	1,859,823	1,261,885	5,205,802	3,801,675
Segment operating income	126,770	89,841	368,596	217,953
Segment income before taxes	120,373	91,595	380,397	222,218
Segment assets	3,688,151	2,722,614	3,688,151	2,722,614
Other Segments [Member]
Revenues from external customers	4,463	4,636	12,927	12,667
Segment operating income	267	328	963	1,232
Segment income before taxes	174	254	682	1,017
Segment assets	$ 54,428	$ 54,715	$ 54,428	$ 54,715

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 4,300,000	$ 4,300,000
Unrecognized Tax Benefits, Interest on Income Taxes Accrued	279,000	279,000
Unrecognized Tax Benefits, Income Tax Penalties Accrued	$ 0	$ 0
Domestic Tax Authority [Member]
Open Tax Year	2018 2019 2020 2021
State and Local Jurisdiction [Member]
Open Tax Year	2017 2018 2019 2020 2021

Note 9 - Revenue - Disaggregate

Note 9 - Revenue - Disaggregated Revenue by Revenue Source (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue	$ 1,778,598	$ 1,203,832	$ 4,981,168	$ 3,632,030
Commercial Vehicle [Member]
Revenue	1,142,201	729,344	3,176,175	2,274,332
Parts [Member]
Revenue	373,207	274,551	1,080,552	778,479
Commercial Vehicle Repair Service [Member]
Revenue	248,923	188,469	683,139	545,804
Financial Service [Member]
Revenue	4,113	3,757	13,211	12,210
Insurance [Member]
Revenue	3,526	3,094	9,708	8,513
Product and Service, Other [Member]
Revenue	$ 6,628	$ 4,617	$ 18,383	$ 12,692

Note 10 - Leases (Details Textu

Note 10 - Leases (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Sales-type Lease, Lease Receivable	$ 6.1	$ 5.4
Minimum [Member]
Lessee, Leases, Term of Contract	1 year
Maximum [Member]
Lessee, Leases, Term of Contract	10 years

Note 10 - Leases - Rental Incom

Note 10 - Leases - Rental Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Minimum rental payments	$ 73,797	$ 54,267	$ 205,070	$ 157,919
Nonlease payments	11,891	8,422	32,491	24,393
Total	$ 85,688	$ 62,689	$ 237,561	$ 182,312

Note 11 - Accumulated Other C_3

Note 11 - Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Balance			$ 1,466,749		$ 1,466,749
Other Comprehensive Income (Loss)	$ (5,701)			$ (471)	(6,424)	$ 96
Balance	1,657,458				1,657,458
AOCI Attributable to Parent [Member]
Balance	64	$ 1,232	787		787
Balance	(5,637)	64	1,232		$ (5,637)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Other Comprehensive Income (Loss)	$ (5,701)	(567)	$ 445
Reclassification of Foreign Currency Translation [Member]
Other Comprehensive Income (Loss)		$ (601)

Note 12 - Accounts Receivable_3

Note 12 - Accounts Receivable and Allowance for Credit Losses - Allowance for Accounts Receivable (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Balance	$ 1,590
Current period provision	3,556
Balance	2,456
Write offs against allowance, net of recoveries	(2,690)
Commercial Vehicle Receivables [Member]
Balance	76
Current period provision	105
Balance	181
Manufacturers' Receivables [Member]
Balance	419
Current period provision	1,368
Balance	584
Write offs against allowance, net of recoveries	(1,203)
Leasing, Parts and Service Receivables [Member]
Balance	1,069
Current period provision	2,083
Balance	1,666
Write offs against allowance, net of recoveries	(1,486)
Other Receivables [Member]
Balance	26
Balance	25
Write offs against allowance, net of recoveries	$ (1)

Note 13 - Acquisitions (Details

Note 13 - Acquisitions (Details Textual) - USD ($) $ in Thousands			1 Months Ended	9 Months Ended
	May 02, 2022	Dec. 13, 2021	Jul. 31, 2022	Sep. 30, 2022	May 01, 2022	Dec. 31, 2021
Goodwill				$ 415,754		$ 370,331
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain				$ 6,958
RTC Canada [Member]
Equity Method Investment, Ownership Percentage	80%				50%
Asset Purchase Agreement With Summit [Member]
Business Combination, Consideration Transferred, Total		$ 205,300
Business Combination, Consideration Transferred, Liabilities Incurred		102,000
Payments to Acquire Real Estate, Total		57,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory			$ 700
Goodwill		$ 74,413	$ 74,400
RTC Canada [Member]
Goodwill	$ 47,939
Business Acquisition, Percentage of Voting Interests Acquired	30%
Business Combination, Step Acquisition, Equity Interest in Acquiree, Including Subsequent Acquisition, Percentage	80%
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage	50%
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value	$ 44,700
Deferred Tax Liabilities, Reclassification of Foreign Currency Translation Adjustment	2,200
Deferred Tax Liabilities, Re-measurement of Equity Method Investment	600
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value	$ 17,828
RTC Canada [Member] | Measurement Input, Discount Rate [Member]
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Measurement Inputs	0.11
RTC Canada [Member] | Measurement Input, Long-Term Revenue Growth Rate [Member]
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Measurement Inputs	0.03
RTC Canada [Member] | RTC Canada [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	20%
RTC Canada [Member] | Other Income (Expense) [Member]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain	$ 7,000

Note 13 - Acquisitions - Fair V

Note 13 - Acquisitions - Fair Values of Assets and Liabilities Acquired (Details) - USD ($) $ in Thousands	May 02, 2022	Sep. 30, 2022	Jul. 31, 2022	Dec. 31, 2021	Dec. 13, 2021
Goodwill		$ 415,754		$ 370,331
Asset Purchase Agreement With Summit [Member]
Goodwill			$ 74,400		$ 74,413
Franchise rights					1,581
Inventory					72,070
Property and equipment, including real estate					113,306
Other					882
Total					262,252
Equity investment in RTC Canada					$ (262,252)
RTC Canada [Member]
Goodwill	$ 47,939
Cash	4,310
Accounts receivable	19,072
Inventory	56,255
Property and equipment, including real estate	80,337
Other	3,422
Floor plan notes payable	(30,501)
Total	37,309
Trade payables	(19,978)
Customer deposits	(1,980)
Accrued liabilities	(7,875)
Notes payable	(69,545)
Equity investment in RTC Canada	(37,309)
Noncontrolling interest	(17,828)
Gain on equity method investment	(6,958)
Total	$ 19,361