Rush Enterprises (RUSHA) 10-Q 9 Nov 23 2023 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Oct. 31, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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
Entity Central Index Key	0001012019
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		61,599,412
Title of 12(b) Security	Class A Common Stock, $0.01 par value
Trading Symbol	RUSHA
Security Exchange Name	NASDAQ
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		17,890,941
Title of 12(b) Security	Class B Common Stock, $0.01 par value
Trading Symbol	RUSHB
Security Exchange Name	NASDAQ

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash, cash equivalents and restricted cash	$ 191,988	$ 201,044
Accounts receivable, net	263,480	220,651
Inventories, net	1,671,623	1,429,429
Prepaid expenses and other	18,690	16,619
Total current assets	2,145,781	1,867,743
Property and equipment, net	1,474,662	1,368,594
Operating lease right-of-use assets, net	107,406	102,685
Goodwill, net	416,420	416,363
Other assets, net	73,784	65,681
Total assets	4,218,053	3,821,066
Current liabilities:
Floor plan notes payable	1,121,490	933,203
Current maturities of long-term debt	104,778	0
Current maturities of finance lease obligations	36,128	29,209
Current maturities of operating lease obligations	15,892	15,003
Trade accounts payable	177,142	171,717
Customer deposits	102,900	116,240
Accrued expenses	161,786	163,302
Total current liabilities	1,720,116	1,428,674
Long-term debt, net of current maturities	202,824	275,433
Finance lease obligations, net of current maturities	103,513	93,483
Operating lease obligations, net of current maturities	93,193	89,029
Other long-term liabilities	23,856	19,455
Deferred income taxes, net	$ 155,468	$ 151,970
Shareholders’ equity:
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, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2023 and 2022	$ 0	$ 0
Common stock, par value $.01 per share; 105,000,000 Class A shares and 35,000,000 Class B shares authorized; 62,053,249 Class A shares and 17,989,388 Class B shares outstanding in 2023; and 63,518,042 Class A shares and 18,124,627 Class B shares outstanding in 2022	804	572
Additional paid-in capital	533,648	500,642
Treasury stock, at cost: 266,519 Class A shares and 105,924 Class B shares in 2023; and 1,626,777 Class A shares and 1,112,446 Class B shares in 2022	(16,169)	(130,930)
Retained earnings	1,385,646	1,378,337
Accumulated other comprehensive income (loss)	(4,317)	(4,130)
Total Rush Enterprises, Inc. shareholders’ equity	1,899,612	1,744,491
Noncontrolling interest	19,471	18,531
Total shareholders’ equity	1,919,083	1,763,022
Total liabilities and shareholders’ equity	$ 4,218,053	$ 3,821,066
Common Class A [Member]
Shareholders’ equity:
Treasury Stock, Common, Shares (in shares)	266,519	1,626,777

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
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)	105,000,000	105,000,000
Common stock, outstanding (in shares)	62,053,249	63,518,042
Treasury Stock, Common, Shares (in shares)	266,519	1,626,777
Common Class B [Member]
Common stock, authorized (in shares)	35,000,000	35,000,000
Common stock, outstanding (in shares)	17,989,388	18,124,627
Treasury Stock, Common, Shares (in shares)	105,924	1,112,446

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues
Revenue	$ 1,891,274	$ 1,778,598	$ 5,630,878	$ 4,981,168
Lease and rental sales	89,466	85,688	264,681	237,561
Total revenue	1,980,740	1,864,286	5,895,559	5,218,729
Cost of products sold
Lease and rental sales	62,106	58,482	184,098	162,378
Total cost of products sold	1,586,335	1,482,888	4,688,537	4,117,675
Gross profit	394,405	381,398	1,207,022	1,101,054
Selling, general and administrative expense	257,132	242,609	770,631	692,383
Depreciation and amortization expense	15,872	13,961	44,731	41,545
Gain on sale of assets	220	2,209	596	2,433
Operating income	121,621	127,037	392,256	369,559
Other income (expense)	133	(215)	2,384	22,182
Interest expense, net	14,194	6,275	37,415	10,662
Income before taxes	107,560	120,547	357,225	381,079
Income tax provision	26,926	29,884	87,277	87,290
Net income	80,634	90,663	269,948	293,789
Less: Net income attributable to noncontrolling interest	356	287	940	733
Net income attributable to Rush Enterprises, Inc.	$ 80,278	$ 90,376	$ 269,008	$ 293,056
Net income attributable to Rush Enterprises, Inc. per share of common stock:
Basic (in dollars per share)	$ 0.99	$ 1.09	$ 3.30	$ 3.51
Diluted (in dollars per share)	$ 0.96	$ 1.06	$ 3.19	$ 3.41
Basic (in shares)	81,229	82,848	81,629	83,401
Diluted (in shares)	83,987	85,313	84,251	86,045
Dividends declared per common share (in dollars per share)	$ 0.17	$ 0.14	$ 0.45	$ 0.39
New and Used Commercial Vehicle [Member]
Revenues
Revenue	$ 1,235,767	$ 1,142,201	$ 3,648,286	$ 3,176,175
Cost of products sold
Costs of products sold	1,113,294	1,045,658	3,287,998	2,875,057
Parts and Service [Member]
Revenues
Revenue	643,623	622,130	1,942,979	1,763,691
Cost of products sold
Costs of products sold	410,935	378,748	1,216,441	1,080,240
Finance and Insurance [Member]
Revenues
Revenue	6,317	7,639	19,077	22,919
Product and Service, Other [Member]
Revenues
Revenue	$ 5,567	$ 6,628	$ 20,536	$ 18,383

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net income	$ 80,634	$ 90,663	$ 269,948	$ 293,789
Other comprehensive income (loss), net of tax:
Foreign currency translation	(2,108)	(5,701)	(187)	(5,823)
Reclassification of currency translation related to equity method accounting				(601)
Comprehensive income	78,526	84,962	269,761	287,365
Less: Comprehensive income attributable to noncontrolling interest	356	287	940	733
Comprehensive income attributable to Rush Enterprises, Inc.	78,170	84,675	268,821	286,632
Product and Service, Other [Member]
Other comprehensive income (loss), net of tax:
Other comprehensive income (loss) attributable to Rush Enterprises, Inc.	$ (2,108)	$ (5,701)	$ (187)	$ (6,424)

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, Common [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, 2021	64,662	18,598
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)	168
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
Vesting of restricted share awards (in shares)		454
Vesting of restricted share awards			3	(7,215)								(7,212)				(7,212)
Issuance of common stock under employee stock purchase plan (in shares)	99
Issuance of common stock under employee stock purchase plan			1	2,434								2,435				2,435
Common stock repurchases (in shares)	(288)	(157)
Common stock repurchases					(15,315)							(15,315)				(15,315)
Cash dividends declared						$ (8,189)	$ (2,505)			$ (8,189)	$ (2,505)
Foreign currency translation									445			445
Net income								92,453				92,453
Balance (in shares) at Mar. 31, 2022	64,641	18,895
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	64,662	18,598
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	63,561	18,138
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	64,641	18,895
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)	244
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)	(673)	(496)
Common stock repurchases					(38,438)							(38,438)				(38,438)
Cash dividends declared						(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
Balance (in shares) at Jun. 30, 2022	64,212	18,399
Balance at Jun. 30, 2022			570	488,170	(90,686)			1,212,919	64			1,611,037	18,274			1,629,311
Reclassification of foreign currency translation related to equity method									(601)			(601)				(601)
Noncontrolling interest equity													17,828			17,828
Stock options exercised and stock awards (in shares)	16
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)		3
Vesting of restricted share awards				(31)								(31)				(31)
Issuance of common stock under employee stock purchase plan (in shares)	102
Issuance of common stock under employee stock purchase plan			1	2,783								2,784				2,784
Common stock repurchases (in shares)	(769)	(264)
Common stock repurchases					(33,095)							(33,095)				(33,095)
Cash dividends declared						(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	63,561	18,138
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 Dec. 31, 2022	63,518	18,125
Balance at Dec. 31, 2022			572	500,642	(130,930)			1,378,337	(4,130)			1,744,491				1,763,022
Stock options exercised and stock awards (in shares)	228
Stock options exercised and stock awards			2	3,412								3,414				3,414
Stock-based compensation related to stock options, restricted shares and employee stock purchase plan				13,080								13,080				13,080
Vesting of restricted share awards (in shares)		422
Vesting of restricted share awards			3	(6,964)								(6,961)				(6,961)
Issuance of common stock under employee stock purchase plan (in shares)	102
Issuance of common stock under employee stock purchase plan				2,828								2,828				2,828
Common stock repurchases (in shares)	(623)	(84)
Common stock repurchases					(25,280)							(25,280)				(25,280)
Cash dividends declared						(8,897)	(2,692)			(8,897)	(2,692)			(8,897)	(2,692)
Foreign currency translation									232			232				232
Net income								90,455				90,455	335			90,790
Balance (in shares) at Mar. 31, 2023	63,225	18,463
Balance at Mar. 31, 2023			577	512,998	(156,210)			1,457,203	(3,898)			1,810,670	18,866			1,829,536
Balance (in shares) at Dec. 31, 2022	63,518	18,125
Balance at Dec. 31, 2022			572	500,642	(130,930)			1,378,337	(4,130)			1,744,491				1,763,022
Foreign currency translation																(187)
Net income																269,948
Balance (in shares) at Sep. 30, 2023	62,053	17,989
Balance at Sep. 30, 2023			804	533,648	(16,169)			1,385,646	(4,317)			1,899,612	19,471			1,919,083
Balance (in shares) at Mar. 31, 2023	63,225	18,463
Balance at Mar. 31, 2023			577	512,998	(156,210)			1,457,203	(3,898)			1,810,670	18,866			1,829,536
Stock options exercised and stock awards (in shares)	237
Stock options exercised and stock awards			1	3,479								3,480				3,480
Stock-based compensation related to stock options, restricted shares and employee stock purchase plan				5,952								5,952				5,952
Vesting of restricted share awards				(54)								(54)				(54)
Common stock repurchases (in shares)	(890)	(195)
Common stock repurchases					(40,305)							(40,305)				(40,305)
Cash dividends declared						(8,812)	(2,725)			(8,812)	(2,725)			(8,812)	(2,725)
Foreign currency translation									1,689			1,689				1,689
Net income								98,275				98,275	249			98,524
Balance (in shares) at Jun. 30, 2023	62,572	18,268
Balance at Jun. 30, 2023			578	522,375	(196,515)			1,543,941	(2,209)			1,868,170	19,115			1,887,285
Stock options exercised and stock awards (in shares)	124
Stock options exercised and stock awards			1	1,888								1,889				1,889
Stock-based compensation related to stock options, restricted shares and employee stock purchase plan				6,265								6,265				6,265
Issuance of common stock under employee stock purchase plan (in shares)	107
Issuance of common stock under employee stock purchase plan			1	3,123								3,124				3,124
Common stock repurchases (in shares)	(750)	(279)
Common stock repurchases					(44,174)							(44,174)				(44,174)
Cash dividends declared						$ (10,574)	$ (3,255)			$ (10,574)	$ (3,255)			$ (10,574)	$ (3,255)
Foreign currency translation									(2,108)			(2,108)				(2,108)
Net income								80,278				80,278	356			80,634
Balance (in shares) at Sep. 30, 2023	62,053	17,989
Balance at Sep. 30, 2023			804	533,648	(16,169)			1,385,646	$ (4,317)			1,899,612	$ 19,471			1,919,083
Retirement of treasury shares and par value adjustment			224	3	(224,520)			224,744				3				3
Retirement of treasury shares and par value adjustment			$ (224)	$ (3)	$ 224,520			$ (224,744)				$ (3)				$ (3)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 269,948	$ 293,789
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	165,145	146,477
Gain on sale of property and equipment	(596)	(2,433)
Gain on joint venture transaction	0	(12,500)
Gain on business acquisition	0	(6,958)
Stock-based compensation expense related to stock options and employee stock purchases	25,297	21,550
Provision for deferred income tax expense	3,508	7,921
Change in accounts receivable, net	(42,822)	(75,066)
Change in inventories, net	(193,668)	(264,687)
Change in prepaid expenses and other, net	(2,078)	875
Change in trade accounts payable	4,576	44,069
Change in customer deposits	(13,334)	9,650
Change in accrued expenses	(4,086)	25,464
Other, net	(831)	(4,832)
Net cash provided by operating activities	211,059	183,319
Cash flows from investing activities:
Acquisition of property and equipment	(289,079)	(175,243)
Proceeds from the sale of property and equipment	1,890	7,014
Business disposition	0	27,500
Business acquisition, net of cash acquired	0	(15,754)
Other	(3,765)	(11,691)
Net cash used in investing activities	(290,954)	(168,174)
Cash flows from financing activities:
Draws on floor plan notes payable – non-trade, net	188,420	277,261
Proceeds from long-term debt	995,081	695,169
Principal payments on long-term debt	(962,792)	(788,757)
Principal payments on finance lease obligations	(13,447)	(11,091)
Proceeds from issuance of shares relating to employee stock options and employee stock purchases	14,734	11,080
Taxes paid related to net share settlement of equity awards	(7,017)	(8,669)
Payments of cash dividends	(37,097)	(33,123)
Common stock repurchased	(107,037)	(85,270)
Net cash provided by financing activities	70,845	56,600
Net (decrease) increase in cash, cash equivalents and restricted cash	(9,050)	71,745
Effect of exchange rate on cash	(6)	0
Cash, cash equivalents and restricted cash, beginning of period	201,044	148,146
Cash, cash equivalents and restricted cash, end of period	191,988	219,519
Supplemental disclosure of cash flow information:
Interest	40,233	12,966
Noncash investing and financing activities:
Assets acquired under finance leases	$ 40,144	$ 14,290

Note 1 - Principles of Consolid

Note 1 - Principles of Consolidation and Basis of Presentation	9 Months Ended
	Sep. 30, 2023
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, 2022. 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. Restricted Cash Restricted cash consists of deposits for the statutory restriction on cash related to the Company’s captive insurance company of $2.3 million as of September 30, 2023. Stock Split On July 25, 2023, the Board of Directors of the Company declared a 3-for-2 stock split of the Company’s Class A common stock and Class B common stock, which was effected in the form of a stock dividend. On August 28, 2023, the Company distributed one Authorized Shares On May 16, 2023, the Company’s shareholders approved the Certificate of Amendment to the Restated Articles of Incorporation of the Company to increase the number of authorized shares of Class A Common Stock from 60,000,000 to 105,000,000 and Class B Common Stock from 20,000,000 to 35,000,000. Treasury Stock Retirement During the third quarter of 2023, the Company retired 3,052,899 shares of Class A common stock and 1,445,515 shares of Class B common stock. The Company recorded the retirement directly against retained earnings based on the Company’s policy election. The Company accounts for treasury stock using the cost method. There was no effect on the Company’s overall equity position due to the retirement of the treasury shares. Foreign Currency Transactions The functional currency of the Company’s foreign subsidiary, Rush Truck Centres of Canada Limited (“RTC Canada”), is the local currency, the Canadian dollar. 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 - Commitments and Contin

Note 2 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	2 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, 2023, 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 3 - Earnings Per Share

Note 3 - Earnings Per Share	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	3 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, 2023 2022 2023 2022 Numerator: Numerator for basic and diluted earnings per share – Net income available to common shareholders $ 80,278 $ 90,376 $ 269,008 $ 293,056 Denominator: Denominator for basic earnings per share – weighted average shares outstanding 81,229 82,848 81,629 83,401 Effect of dilutive securities – Employee and director stock options and restricted share awards 2,758 2,465 2,622 2,644 Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions 83,987 85,313 84,251 86,045 Basic earnings per common share $ 0.99 $ 1.09 $ 3.30 $ 3.51 Diluted earnings per common share and common share equivalents $ 0.96 $ 1.06 $ 3.19 $ 3.41 Options to purchase shares of common stock that were outstanding for the three months and nine months ended September 30, 2023 and 2022 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, 2023 2022 2023 2022 Weighted average anti-dilutive options 1,079 1,500 1,353 1,261

Note 4 - Stock Options and Rest

Note 4 - Stock Options and Restricted Stock Awards	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	4 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 $6.3 million for the three months ended September 30, 2023, and $3.6 million for the three months ended September 30, 2022. Stock-based compensation expense was $25.3 million for the nine months ended September 30, 2023, and $21.5 million for the nine months ended September 30, 2022. As of September 30, 2023, the Company had $13.4 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 $15.6 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 5 - Financial Instruments

Note 5 - Financial Instruments and Fair Value	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	5 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, 2023, and December 31, 2022. 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. Thus, the carrying amount of such debt approximates fair value.

Note 6 - Segment Information

Note 6 - Segment Information	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	6 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, 2023 and 2022 (in thousands): Truck Segment All Other Total As of and for the three months ended September 30, 2023 Revenues from external customers $ 1,976,395 $ 4,345 $ 1,980,740 Segment operating income 121,675 (54 ) 121,621 Segment income before taxes 107,614 (54 ) 107,560 Segment assets 4,163,261 54,792 4,218,053 For the nine months ended September 30, 2023 Revenues from external customers $ 5,883,127 $ 12,432 $ 5,895,559 Segment operating income 391,870 386 392,256 Segment income before taxes 356,839 386 357,225 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

Note 7 - Income Taxes

Note 7 - Income Taxes	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	7 Income Taxes The Company had unrecognized income tax benefits totaling $5.3 million as a component of accrued liabilities as of September 30, 2023 and December 31, 2022, the total of which, if recognized, would impact the Company’s effective tax rate. An unfavorable settlement would 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 $302,000 accrued for the payment of interest as of September 30, 2023 and December 31, 2022. 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, 2023, the tax years ended December 31, 2019 2018

Note 8 - Revenue

Note 8 - Revenue	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	8 Revenue The Company’s non-lease and rental 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, the 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, 2023 and 2022 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Commercial vehicle sales revenue $ 1,235,767 $ 1,142,201 $ 3,648,286 $ 3,176,175 Parts revenue 376,183 373,207 1,141,081 1,080,552 Commercial vehicle repair service revenue 267,440 248,923 801,898 683,139 Finance revenue 2,869 4,113 9,369 13,211 Insurance revenue 3,448 3,526 9,708 9,708 Other revenue 5,567 6,628 20,536 18,383 Total $ 1,891,274 $ 1,778,598 $ 5,630,878 $ 4,981,168 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, 2023. 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 9 - Leases

Note 9 - Leases	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Leases of Lessee and Lessor Disclosure [Text Block]	9 Leases Lease of Vehicles as Lessor The Company primarily leases commercial vehicles that the Company owns to customers primarily 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. Lease and rental income during the three and nine months ended September 30, 2023 and September 30, 2022 consisted of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Minimum rental payments $ 77,685 $ 73,797 $ 229,276 $ 205,070 Nonlease payments 11,781 11,891 35,405 32,491 Total $ 89,466 $ 85,688 $ 264,681 $ 237,561

Note 10 - Accumulated Other Com

Note 10 - Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	10 Accumulated Other Comprehensive Income (Loss) The following table shows the components of accumulated other comprehensive income (loss) (in thousands): Balance as of December 31, 2022 $ (4,130 ) Foreign currency translation adjustment 232 Balance as of March 31, 2023 $ (3,898 ) Foreign currency translation adjustment 1,689 Balance as of June 30, 2023 $ (2,209 ) Foreign currency translation adjustment (2,108 ) Balance as of September 30, 2023 $ (4,317 ) The functional currency of the Company’s foreign subsidiary, RTC Canada, is its local currency. Results of operations of RTC Canada are translated into 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 and the statement of comprehensive income.

Note 11 - Accounts Receivable a

Note 11 - Accounts Receivable and Allowance for Credit Losses	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	11 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 and leasing, parts and service sales 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, 2022 Provision for the Nine Months Ended September 30, 2023 Write offs Against Allowance, net of Recoveries Balance September 30, 2023 Commercial vehicle receivables $ 160 $ (33 ) $ − $ 127 Manufacturers’ receivables 573 1,814 (1,414 ) 973 Leasing, parts and service receivables 1,589 3,352 (2,561 ) 2,380 Other receivables − 9 (7 ) 2 Total $ 2,322 $ 5,142 $ (3,982 ) $ 3,482

Note 12 - Acquisition

Note 12 - Acquisition	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Business Combination Disclosure [Text Block]	12 Acquisition 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 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 80,196 Floor plan notes payable (30,501 ) Trade payables (19,978 ) Customer deposits (1,980 ) Accrued liabilities (7,875 ) Notes payable (69,545 ) Goodwill 44,174 Franchise rights 3,906 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 goodwill of $44.2 million for the RTC Canada acquisition was primarily attributable to the synergies expected to arise after the Company obtained 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. Subsequent to the Company’s acquisition of the additional 30% equity interest on May 2, 2022, operations of RTC Canada are included in the accompanying consolidated financial statements.

Note 13 - Subsequent Event

Note 13 - Subsequent Event	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Subsequent Events [Text Block]	13 Subsequent Event On November 1, 2023, the Company entered into that certain Second Amended and Restated Inventory Financing and Purchase Money Security Agreement with PACCAR Leasing Company (“PLC”), a division of PACCAR Financial Corp. (the “PLC Amended and Restated Agreement”). Pursuant to the terms of the PLC Amended and Restated Agreement, PLC agreed to make up to $300.0 million of revolving credit loans to finance certain of the Company’s capital expenditures, including commercial vehicle purchases and other equipment to be leased or rented through its PacLease franchises. The Company may borrow, repay and reborrow amounts pursuant to the PLC Amended and Restated Agreement from time to time until the maturity date, provided, however, that the outstanding principal amount on any date shall not exceed the borrowing base. The PLC Amended and Restated Agreement requires the Company to maintain a minimum balance threshold of $190,000,000. Advances under the PLC Amended and Restated Agreement bear interest per annum, payable on the fifth day of the following month, at our option, at either (A) the prime rate, minus 1.95%, provided that the floating rate of interest is subject to a floor of 0%, or (B) a fixed rate, to be determined between the Company and PLC in each instance of borrowing at a fixed rate. The PLC Amended and Restated Agreement expires on December 1, 2025, although either party has the right to terminate the PLC Amended and Restated Agreement at any time upon 180 days written notice.

Insider Trading Arrangement

Insider Trading Arrangement	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Issuer Rule 10b5-1, Material Terms [Text Block]	During the three months ended September 30, 2023, none of the Company's directors or officers (as defined in Rule 16a-1(f) of the Securities Exchange Act of 1934) adopted, terminated or modified a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (as such terms are defined in Item 408 of Regulation S-K).

Note 3 - Earnings Per Share (Ta

Note 3 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Numerator: Numerator for basic and diluted earnings per share – Net income available to common shareholders $ 80,278 $ 90,376 $ 269,008 $ 293,056 Denominator: Denominator for basic earnings per share – weighted average shares outstanding 81,229 82,848 81,629 83,401 Effect of dilutive securities – Employee and director stock options and restricted share awards 2,758 2,465 2,622 2,644 Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions 83,987 85,313 84,251 86,045 Basic earnings per common share $ 0.99 $ 1.09 $ 3.30 $ 3.51 Diluted earnings per common share and common share equivalents $ 0.96 $ 1.06 $ 3.19 $ 3.41
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Weighted average anti-dilutive options 1,079 1,500 1,353 1,261

Note 6 - Segment Information (T

Note 6 - Segment Information (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023 Revenues from external customers $ 1,976,395 $ 4,345 $ 1,980,740 Segment operating income 121,675 (54 ) 121,621 Segment income before taxes 107,614 (54 ) 107,560 Segment assets 4,163,261 54,792 4,218,053 For the nine months ended September 30, 2023 Revenues from external customers $ 5,883,127 $ 12,432 $ 5,895,559 Segment operating income 391,870 386 392,256 Segment income before taxes 356,839 386 357,225 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

Note 8 - Revenue (Tables)

Note 8 - Revenue (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Commercial vehicle sales revenue $ 1,235,767 $ 1,142,201 $ 3,648,286 $ 3,176,175 Parts revenue 376,183 373,207 1,141,081 1,080,552 Commercial vehicle repair service revenue 267,440 248,923 801,898 683,139 Finance revenue 2,869 4,113 9,369 13,211 Insurance revenue 3,448 3,526 9,708 9,708 Other revenue 5,567 6,628 20,536 18,383 Total $ 1,891,274 $ 1,778,598 $ 5,630,878 $ 4,981,168

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Leases, Lease Income [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Minimum rental payments $ 77,685 $ 73,797 $ 229,276 $ 205,070 Nonlease payments 11,781 11,891 35,405 32,491 Total $ 89,466 $ 85,688 $ 264,681 $ 237,561

Note 10 - Accumulated Other C_2

Note 10 - Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Balance as of December 31, 2022 $ (4,130 ) Foreign currency translation adjustment 232 Balance as of March 31, 2023 $ (3,898 ) Foreign currency translation adjustment 1,689 Balance as of June 30, 2023 $ (2,209 ) Foreign currency translation adjustment (2,108 ) Balance as of September 30, 2023 $ (4,317 )

Note 11 - Accounts Receivable_2

Note 11 - Accounts Receivable and Allowance for Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Balance December 31, 2022 Provision for the Nine Months Ended September 30, 2023 Write offs Against Allowance, net of Recoveries Balance September 30, 2023 Commercial vehicle receivables $ 160 $ (33 ) $ − $ 127 Manufacturers’ receivables 573 1,814 (1,414 ) 973 Leasing, parts and service receivables 1,589 3,352 (2,561 ) 2,380 Other receivables − 9 (7 ) 2 Total $ 2,322 $ 5,142 $ (3,982 ) $ 3,482

Note 12 - Acquisition (Tables)

Note 12 - Acquisition (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Cash $ 4,310 Accounts receivable 19,072 Inventory 56,255 Property and equipment, including real estate 80,196 Floor plan notes payable (30,501 ) Trade payables (19,978 ) Customer deposits (1,980 ) Accrued liabilities (7,875 ) Notes payable (69,545 ) Goodwill 44,174 Franchise rights 3,906 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 1 - Principles of Consol_2

Note 1 - Principles of Consolidation and Basis of Presentation (Details Textual) $ / shares in Units, $ in Millions			3 Months Ended
	Aug. 28, 2023 $ / shares shares	Jul. 25, 2020	Sep. 30, 2023 USD ($) $ / shares shares	May 16, 2023 shares	May 15, 2023 shares	Dec. 31, 2022 $ / shares shares
Common Stock, Par or Stated Value Per Share | $ / shares			$ 0.01			$ 0.01
Common Class A [Member]
Additional Share Issued for Every Two Shares of Common Stock	1
Common Stock, Par or Stated Value Per Share | $ / shares	$ 0.01
Common Stock, Shares Authorized			105,000,000	105,000,000	60,000,000	105,000,000
Treasury Stock, Shares, Retired			3,052,899
Common Class B [Member]
Common Stock, Par or Stated Value Per Share | $ / shares	$ 0.01
Common Stock, Shares Authorized			35,000,000	35,000,000	20,000,000	35,000,000
Treasury Stock, Shares, Retired			1,445,515
Stock Split From [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio		3
Stock Split To [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio		2
Deposits for Restrictions Related to Captive Insurance Company [Member]
Restricted Cash and Cash Equivalents, Current | $			$ 2.3

Note 3 - Earnings Per Share - E

Note 3 - 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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator for basic and diluted earnings per share – Net income available to common shareholders	$ 80,278	$ 90,376	$ 269,008	$ 293,056
Denominator for basic earnings per share – weighted average shares outstanding (in shares)	81,229	82,848	81,629	83,401
Effect of dilutive securities– Employee stock options and restricted share awards (in shares)	2,758	2,465	2,622	2,644
Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions (in shares)	83,987	85,313	84,251	86,045
Basic earnings per common share (in dollars per share)	$ 0.99	$ 1.09	$ 3.30	$ 3.51
Diluted earnings per common share and common share equivalents (in dollars per share)	$ 0.96	$ 1.06	$ 3.19	$ 3.41

Note 3 - Earnings Per Share - A

Note 3 - Earnings Per Share - Anti-dilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Anti-dilutive options – weighted average (in shares)	1,079	1,500	1,353	1,261

Note 4 - Stock Options and Re_2

Note 4 - Stock Options and Restricted Stock Awards (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 13.4		$ 13.4
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	6.3	$ 3.6	$ 25.3	$ 21.5
Restricted Stock [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 15.6		$ 15.6
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			1 year 4 months 24 days

Note 6 - Segment Information (D

Note 6 - Segment Information (Details Textual)	9 Months Ended
	Sep. 30, 2023
Truck Segment [Member]
Number of Reportable Segments	1
Other Segments [Member]
Number of Operating Segments	3

Note 6 - Segment Information -

Note 6 - Segment Information - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Revenues from external customers	$ 1,980,740	$ 1,864,286	$ 5,895,559	$ 5,218,729
Segment operating income	121,621	127,037	392,256	369,559
Segment income before taxes	107,560	120,547	357,225	381,079
Segment assets	4,218,053	3,742,579	4,218,053	3,742,579	$ 3,821,066
Truck Segment [Member]
Revenues from external customers	1,976,395	1,859,823	5,883,127	5,205,802
Segment operating income	121,675	126,770	391,870	368,596
Segment income before taxes	107,614	120,373	356,839
Segment assets	4,163,261	3,688,151	4,163,261	3,688,151
Other Segments [Member]
Revenues from external customers	4,345	4,463	12,432	12,927
Segment operating income		267	386	963
Segment income before taxes	(54)	174	386
Segment assets	$ 54,792	$ 54,428	$ 54,792	$ 54,428

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 5,300,000	$ 5,300,000
Unrecognized Tax Benefits, Interest on Income Taxes Accrued	$ 302,000	$ 302,000
Domestic Tax Authority [Member]
Open Tax Year	2019 2020 2021 2022
State and Local Jurisdiction [Member]
Open Tax Year	2018 2019 2020 2021 2022

Note 8 - Revenue - Disaggregate

Note 8 - Revenue - Disaggregated Revenue by Revenue Source (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue	$ 1,891,274	$ 1,778,598	$ 5,630,878	$ 4,981,168
Commercial Vehicle [Member]
Revenue	1,235,767	1,142,201	3,648,286	3,176,175
Parts [Member]
Revenue	376,183	373,207	1,141,081	1,080,552
Commercial Vehicle Repair Service [Member]
Revenue	267,440	248,923	801,898	683,139
Financial Service [Member]
Revenue	2,869	4,113	9,369	13,211
Insurance [Member]
Revenue	3,448	3,526	9,708	9,708
Product and Service, Other [Member]
Revenue	$ 5,567	$ 6,628	$ 20,536	$ 18,383

Note 9 - Leases (Details Textua

Note 9 - Leases (Details Textual)	9 Months Ended
	Sep. 30, 2023
Minimum [Member]
Lessor, Leases, Term of Contract	1 year
Maximum [Member]
Lessor, Leases, Term of Contract	10 years

Note 9 - Leases - Rental Income

Note 9 - Leases - Rental Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Minimum rental payments	$ 77,685	$ 73,797	$ 229,276	$ 205,070
Nonlease payments	11,781	11,891	35,405	32,491
Total	$ 89,466	$ 85,688	$ 264,681	$ 237,561

Note 10 - Accumulated Other C_3

Note 10 - Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2023
Balance			$ 1,744,491	$ 1,744,491
Balance	$ 1,899,612			1,899,612
AOCI Attributable to Parent [Member]
Balance	(2,209)	$ (3,898)	(4,130)	(4,130)
Foreign currency translation adjustment	(2,108)	1,689	232
Balance	$ (4,317)	$ (2,209)	$ (3,898)	$ (4,317)

Note 11 - Accounts Receivable_3

Note 11 - Accounts Receivable and Allowance for Credit Losses - Allowance for Accounts Receivable (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Balance	$ 2,322
Current period provision	5,142
Write offs against allowance, net of recoveries	(3,982)
Balance	3,482
Commercial Vehicle Receivables [Member]
Balance	160
Current period provision	(33)
Write offs against allowance, net of recoveries	0
Balance	127
Manufacturers' Receivables [Member]
Balance	573
Current period provision	1,814
Write offs against allowance, net of recoveries	(1,414)
Balance	973
Leasing, Parts and Service Receivables [Member]
Balance	1,589
Current period provision	3,352
Write offs against allowance, net of recoveries	(2,561)
Balance	2,380
Other Receivables [Member]
Balance	0
Current period provision	0
Write offs against allowance, net of recoveries	(7)
Balance	$ 2

Note 12 - Acquisition (Details

Note 12 - Acquisition (Details Textual) - USD ($) $ in Thousands		9 Months Ended
	May 02, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	May 01, 2022
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain		$ 0	$ 6,958
Goodwill, Gross		$ 416,420		$ 416,363
RTC Canada [Member]
Equity Method Investment, Ownership Percentage	30%				50%
RTC Canada [Member]
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
Goodwill, Gross	$ 44,200
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] | RTC Canada [Member]
Subsidiary, Ownership Percentage, Noncontrolling Owner	20%
RTC Canada [Member] | Other Income (Expense) [Member]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain	$ 7,000

Note 12 - Acquisition - Fair Va

Note 12 - Acquisition - Fair Values of Assets and Liabilities Acquired (Details) - RTC Canada [Member] $ in Thousands	May 02, 2022 USD ($)
Cash	$ 4,310
Accounts receivable	19,072
Inventory	56,255
Property and equipment, including real estate	80,196
Floor plan notes payable	(30,501)
Trade payables	(19,978)
Customer deposits	(1,980)
Accrued liabilities	(7,875)
Notes payable	(69,545)
Goodwill	44,174
Franchise rights	3,906
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 13 - Subsequent Event (Det

Note 13 - Subsequent Event (Details Textual) - Subsequent Event [Member] - Revolving Credit Facility [Member]	Nov. 01, 2023 USD ($)
Line of Credit Facility, Maximum Borrowing Capacity	$ 300,000,000
Line of Credit Facility, Minimum Balance Threshold	$ 190,000,000
Debt Instrument, Prime Rate Floor	0%
Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1.95%