Generac (GNRC) 10-Q 7 May 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 30, 2018
Document Information [Line Items]
Entity Registrant Name	GENERAC HOLDINGS INC.
Entity Central Index Key	1,474,735
Trading Symbol	gnrc
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding (in shares)		61,953,296
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 146,162	$ 138,472
Accounts receivable, less allowance for doubtful accounts	262,170	279,294
Inventories	439,745	387,049
Prepaid expenses and other assets	18,768	19,741
Total current assets	866,845	824,556
Property and equipment, net	232,023	230,380
Customer lists, net	39,516	41,064
Patents, net	37,310	39,617
Other intangible assets, net	2,302	2,401
Tradenames, net	151,972	152,683
Goodwill	724,206	721,523
Deferred income taxes	3,466	3,238
Other assets	19,828	10,502
Total assets	2,077,468	2,025,964
Current liabilities:
Short-term borrowings	31,414	20,602
Accounts payable	228,070	233,639
Accrued wages and employee benefits	29,014	27,992
Other accrued liabilities	122,546	112,618
Current portion of long-term borrowings and capital lease obligations	1,593	1,572
Total current liabilities	412,637	396,423
Long-term borrowings and capital lease obligations	907,459	906,548
Deferred income taxes	49,140	41,852
Other long-term liabilities	83,634	82,893
Total liabilities	1,452,870	1,427,716
Redeemable noncontrolling interests	54,404	43,929
Stockholders’ equity:
Common stock, par value $0.01, 500,000,000 shares authorized, 70,989,164 and 70,820,173 shares issued at March 31, 2018 and December 31, 2017, respectively	707	708
Additional paid-in capital	464,060	459,816
Treasury stock, at cost	(321,025)	(294,005)
Excess purchase price over predecessor basis	(202,116)	(202,116)
Retained earnings	636,814	610,835
Accumulated other comprehensive loss	(8,372)	(21,198)
Stockholders' equity attributable to Generac Holdings, Inc.	570,068	554,040
Noncontrolling interests	126	279
Total stockholders' equity	570,194	554,319
Total liabilities and stockholders’ equity	$ 2,077,468	$ 2,025,964

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	70,989,164	70,820,173

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net sales	$ 397,634	$ 330,485
Costs of goods sold	257,645	221,685
Gross profit	139,989	108,800
Operating expenses:
Selling and service	42,682	39,467
Research and development	11,853	10,287
General and administrative	23,475	20,973
Amortization of intangibles	5,632	7,183
Total operating expenses	83,642	77,910
Income from operations	56,347	30,890
Other (expense) income:
Interest expense	(10,113)	(10,788)
Investment income	346	5
Costs related to acquisition	(11)	(185)
Other, net	(1,383)	83
Total other expense, net	(11,161)	(10,885)
Income before provision for income taxes	45,186	20,005
Provision for income taxes	11,416	7,823
Net income	33,770	12,182
Net income attributable to noncontrolling interests	125	7
Net income attributable to Generac Holdings Inc.	$ 33,645	$ 12,175
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share)	$ 0.42	$ 0.21
Weighted average common shares outstanding - basic: (in shares)	61,943,495	62,366,263
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share)	$ 0.42	$ 0.20
Weighted average common shares outstanding - diluted: (in shares)	62,474,936	62,936,126
Comprehensive income attributable to Generac Holdings Inc.	$ 44,703	$ 15,720

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Operating activities
Net income		$ 33,770	$ 12,182
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation		6,051	5,414
Amortization of intangible assets		5,632	7,183
Amortization of original issue discount and deferred financing costs		1,177	490
Deferred income taxes		4,283	6,530
Share-based compensation expense	[1]	3,106	2,632
Other		102	120
Net changes in operating assets and liabilities, net of acquisitions:
Accounts receivable		18,744	20,368
Inventories		(48,798)	(35,675)
Other assets		2,658	192
Accounts payable		(9,439)	(24,975)
Accrued wages and employee benefits		813	697
Other accrued liabilities		11,065	103
Excess tax benefits from equity awards		(196)	(436)
Net cash provided by (used in) operating activities		28,968	(5,175)
Investing activities
Proceeds from sale of property and equipment		1	35
Proceeds from beneficial interests in securitization transactions		867	629
Expenditures for property and equipment		(6,496)	(3,548)
Acquisition of business, net of cash acquired		(369)	1,610
Net cash used in investing activities		(5,997)	(1,274)
Financing activities
Proceeds from short-term borrowings		14,315	31,004
Proceeds from long-term borrowings			1,278
Repayments of short-term borrowings		(3,911)	(35,194)
Repayments of long-term borrowings and capital lease obligations		(408)	(1,056)
Stock repurchases		(25,656)
Cash dividends paid to noncontrolling interest of subsidiary		(314)
Taxes paid related to equity awards		(1,626)	(1,903)
Proceeds from exercise of stock options		1,400	1,107
Net cash used in financing activities		(16,200)	(4,764)
Effect of exchange rate changes on cash and cash equivalents		919	1,435
Net increase (decrease) in cash and cash equivalents		7,690	(9,778)
Cash and cash equivalents at beginning of period		138,472	67,272
Cash and cash equivalents at end of period		$ 146,162	$ 57,494
[1]	Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods.

Note 1 - Description of Busines

Note 1 - Description of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1. Description of Business and Basis of Presentation Founded in 1959, Over the years, the Company has executed a number of acquisitions that support its strategic plan (as discussed in Item 1 10 December 31, 2017). ● In January 2017, The condensed consolidated financial statements include the accounts of the Company and its subsidiaries that are consolidated in conformity with U.S. generally accepted accounting principles (U.S. GAAP). All intercompany amounts and transactions have been eliminated in consolidation. The condensed consolidated balance sheet as of March 31, 2018, three March 31, 2018 2017, three March 31, 2018 2017 not not The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Certain information and footnote disclosure normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Annual Report on Form 10 December 31, 2017. New Accounting Standards Not In February 2016, 2016 02, Leases 2019, In August 2017, 2017 12, Derivatives and Hedging – Targeted Improvements to Accounting for Hedging Activities 2019, There are several other new accounting pronouncements issued by the FASB. Each of these pronouncements, as applicable, has been or will be adopted by the Company. Management does not Recently Adopted Accounting Standards On January 1, 2018, 2017 07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost not On January 1, 2018, 2016 15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments On January 1, 2018, 2014 09, Revenue from Contracts with Customers The impact of adopting the above standards on the Company’s previously reported condensed consolidated financial statements is as follows: Condensed Consolidated Balance Sheet March 31, 2017 As Reported Impact of Adoption As Adjusted Accounts Receivable $ 223,031 $ (2,484 ) $ 220,547 Inventories 390,908 6,082 396,990 Other accrued liabilities 91,853 5,604 97,457 Deferred income taxes 27,376 (2,954 ) 24,422 Other long-term liabilities 62,129 5,548 67,677 Retained earnings $ 469,508 $ (4,600 ) $ 464,908 Condensed Consolidated Statement of Comprehensive Income Three Months Ended March 31, 2017 As Reported Impact of Adoption As Adjusted Net sales $ 331,814 $ (1,329 ) $ 330,485 Cost of goods sold 221,328 357 221,685 Selling and service expenses 40,184 (717 ) 39,467 Research and development expenses 10,301 (14 ) 10,287 Other, net (223 ) 140 (83 ) Provision for income taxes 8,251 (428 ) 7,823 Net income attributable to Generac Holdings Inc. $ 12,842 $ (667 ) $ 12,175 Earnings per share Basic $ 0.22 $ (0.01 ) $ 0.21 Diluted $ 0.21 $ (0.01 ) $ 0.20 Comprehensive income attributable to Generac Holdings Inc. $ 16,387 $ (667 ) $ 15,720 Condensed Consolidated Statement of Cash Flows Three Months Ended March 31, 2017 As Reported Impact of Adoption As Adjusted Net income $ 12,849 $ (667 ) $ 12,182 Deferred income taxes 6,958 (428 ) 6,530 Accounts receivable 19,973 395 20,368 Inventories (35,338 ) (337 ) (35,675 ) Other accrued liabilities (305 ) 408 103 Net cash used in operating activities $ (4,546 ) $ (629 ) $ (5,175 ) Proceeds from beneficial interests in securitization transactions $ - $ 629 $ 629 Net cash provided by (used in) investing activities $ (1,903 ) $ 629 $ (1,274 ) Condensed Consolidated Balance Sheet December 31, 2017 As Reported Impact of Adoption As Adjusted Accounts Receivable $ 280,002 $ ( ) $ 279,294 Inventories 380,341 6,708 387,049 Other accrued liabilities 105,067 7,551 112,618 Deferred income taxes 43,789 ( ) 41,852 Other long-term liabilities 76,995 5,898 82,893 Retained earnings $ 616,347 $ ( ) $ 610,835

Note 2 - Revenue Recognition

Note 2 - Revenue Recognition	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	2. The Company’s revenues primarily consist of product sales to its customers. The Company considers the purchase orders, which in some cases are governed by master sales agreements, to be the contracts with the customers. For each contract, the Company considers the commitment to transfer products, each of which is distinct, to be the identified performance obligations. Revenue is measured as the amount of consideration the Company expects to be entitled in exchange for the transfer of product, which is generally the price stated in the contract specific for each item sold, adjusted for the value of expected returns, discounts, rebates, or other promotional incentives or allowances offered to our customers. Expected returns for damaged or defective product are estimated using the expected value method based upon historical product return experience. Discounts and rebates offered to customers are typically defined in the master sales agreements with customers, and therefore are recorded using the most likely amount method based on the terms of the contract. Promotional incentives are defined programs offered for short, specific periods of time, and are estimated using the expected value method based upon historical experience. The Company does not one not not one not At the request of certain customers, the Company will warehouse inventory billed to the customer but not not While the Company’s standard payment terms are less than one $8,028 $7,034 March 31, 2018 December 31, 2017, one The Company offers standard warranty coverage on substantially all products that it sells, and accounts for this standard warranty coverage as an assurance warranty. As such, no 9, The Company also sells extended warranty coverage for certain products, which it accounts for as service warranties. In most cases, the extended warranty is sold as a separate contract. As such, extended warranty sales are considered a separate performance obligation and extended warranty transaction price is separate and distinct from the product. The extended warranty transaction price is initially recorded as deferred revenue on the condensed consolidated balance sheets, and amortized on a straight-line basis to selling and service expenses in the condensed consolidated statements of comprehensive income, as an offset to warranty expense, over the life of the contracts following the standard warranty period. For extended warranty contracts that the Company sells under a third third 9, The Company offers other services, including remote monitoring, installation and maintenance services in limited circumstances. These other services are currently not one Refer to Note 7,

Note 3 - Redeemable Noncontroll

Note 3 - Redeemable Noncontrolling Interest	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Redeemable Noncontrolling Interest [Text Block]	3 . Redeemable Noncontrolling Interest On March 1, 2016, 65% 35% $34,253, five first two may five no The redeemable noncontrolling interest is recorded at the greater of the initial fair value, increased or decreased for the noncontrolling interests’ share of comprehensive income (loss), or the estimated redemption value, with any adjustments to the redemption value impacting retained earnings, but not 12, Three Months Ended March 31, 2018 2017 Balance at beginning of period $ 43,929 $ 33,138 Net income (26 ) 118 Foreign currency translation 2,836 924 Redemption value adjustment 7,665 (614 ) Balance at end of period $ 54,404 $ 33,566 The redemption value adjustment recorded in the three March 31, 2018 two

Note 4 - Derivative Instruments

Note 4 - Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	4 . Derivative Instruments and Hedging Activities The Company records all derivatives in accordance with Accounting Standards Codification (ASC) 815, Derivatives and Hedging not Commodities The Company is exposed to price fluctuations in commodities it uses as raw materials; primarily steel, copper and aluminum; and periodically utilizes commodity derivatives to mitigate the impact of these potential price fluctuations on its financial results and its economic well-being. These derivatives typically have maturities of less than eighteen first 2018, Hedged Item Contract Date Effective Date Notional Amount Fixed Price (per lb) Expiration Date Copper February 12, 2018 February 1, 2018 $ 3,776 $ 3.114 December 31, 2018 Copper March 8, 2018 March 9, 2018 $ 3,427 $ 3.109 December 31, 2018 Copper March 20, 2018 March 21, 2018 $ 3,418 $ 3.101 December 31, 2018 Copper March 20, 2018 March 21, 2018 $ 1,697 $ 3.079 December 31, 2018 Copper March 26, 2018 April 1, 2018 $ 3,003 $ 3.027 December 31, 2018 At March 31, 2018, December 31, 2017 March 31, 2017, one one Because these contracts do not three March 31, 2018 2017 156 $183, Foreign Currencies The Company is exposed to foreign currency exchange risk as a result of transactions denominated in currencies other than the U.S. Dollar. The Company periodically utilizes foreign currency forward purchase and sales contracts to manage the volatility associated with certain foreign currency purchases and sales in the normal course of business. Contracts typically have maturities of twelve March 31, 2018, December 31, 2017 March 31, 2017, 22, 28 19 Because these contracts do not three March 31, 2018 2017 $227 $201 Interest Rate Swaps In October 2013, two May 2014, one 2017, 20 three March 31, 2018 2017 $6,647 $440, Fair Value The following table presents the fair value of all of the Company’s derivatives: March 31 , 8 December 31, 7 Commodity contracts $ (163 ) $ 107 Foreign currency contracts (25 ) 167 Interest rate swaps 13,339 4,356 The fair value of the commodity contracts and foreign currency contracts are included in other accrued liabilities, and the fair value of the interest rate swaps is included in other assets in the condensed consolidated balance sheets as of March 31, 2018. December 31, 2017. March 31, 2018 December 31, 2017 $13,375 $4,703,

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Fair Value Disclosures [Text Block]	5 . Fair Value Measurements ASC 820 10, Fair Value Measurement 820 10 three 1 2 3 no The Company believes the carrying amount of its financial instruments (cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, short-term borrowings and ABL facility borrowings), excluding Term Loan borrowings, approximates the fair value of these instruments based upon their short-term nature. The fair value of Term Loan borrowings, which have an aggregate carrying value of $904,044, $904,587 2 March 31, 2018, For the fair value of the derivatives measured on a recurring basis, see the fair value table in Note 4, 2. 820 10.

Note 6 - Accumulated Other Comp

Note 6 - Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	6 . Accumulated Other Comprehensive Loss The following presents a tabular disclosure of changes in AOCL during the three March 31, 2018 2017, Foreign Currency Translation Adjustments Defined Benefit Pension Plan Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – January 1, 2018 $ (12,856 ) $ (10,978 ) $ 2,636 $ (21,198 ) Other comprehensive income before reclassifications 6,179 - 6,647 (1) 12,826 Amounts reclassified from AOCL - - - - Net current-period other comprehensive income 6,179 - 6,647 12,826 Ending Balance – March 31, 2018 $ (6,677 ) $ (10,978 ) $ 9,283 $ (8,372 ) Foreign Currency Translation Adjustments Defined Benefit Pension Plan Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – January 1, 2017 $ (28,047 ) $ (11,040 ) $ (1,076 ) $ (40,163 ) Other comprehensive income before reclassifications 3,600 - 440 (2) 4,040 Amounts reclassified from AOCL - - - - Net current-period other comprehensive income 3,600 - 440 4,040 Ending Balance – March 31, 2017 $ (24,447 ) $ (11,040 ) $ (636 ) $ (36,123 ) ( 1 Represents unrealized gains of $8,982, 2,335 three March 31, 2018. ( 2 Represents unrealized gains of $723, 283 three March 31, 2017.

Note 7 - Segment Reporting

Note 7 - Segment Reporting	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	7 . Segment Reporting The Company has two two The Company's product offerings consist primarily of power generation equipment and other engine powered products geared for varying end customer uses. Residential products and commercial & industrial products are each a similar class of products based on similar power output and end customer. The breakout of net sales between residential, commercial & industrial, and other products by reportable segment is as follows: Net Sales by Segment Three Months Ended March 31, 2018 Product Classes Domestic International Total Residential products $ 176,685 $ 13,789 $ 190,474 Commercial & industrial products 97,771 77,354 175,125 Other 25,763 6,272 32,035 Total net sales $ 300,219 $ 97,415 $ 397,634 Net Sales by Segment Three Months Ended March 31, 2017 Product Classes Domestic International Total Residential products $ 141,701 $ 12,516 $ 154,217 Commercial & industrial products 84,765 65,988 150,753 Other 20,702 4,813 25,515 Total net sales $ 247,168 $ 83,317 $ 330,485 Residential products consist primarily of automatic standby generators ranging in output from 6kW 60kW, Commercial and industrial (C&I) products consist primarily of generators fueled by diesel, natural gas, liquid propane and bi-fuel, with power outputs ranging from 10kW 3,250kW. Management evaluates the performance of its segments based primarily on Adjusted EBITDA, which is reconciled to Income before provision for income taxes below. The computation of Adjusted EBITDA is based on the definition that is contained in the Company’s credit agreements. Adjusted EBITDA Three Months Ended March 31, 2018 2017 Domestic $ 65,475 $ 41,891 International 6,306 4,812 Total adjusted EBITDA $ 71,781 $ 46,703 Interest expense (10,113 ) (10,788 ) Depreciation and amortization (11,683 ) (12,597 ) Non-cash write-down and other adjustments (1) (1,306 ) (166 ) Non-cash share-based compensation expense (2) (3,106 ) (2,632 ) Transaction costs and credit facility fees (3) (262 ) (316 ) Business optimization expenses (4) (138 ) (100 ) Other 13 (99 ) Income before provision for income taxes $ 45,186 $ 20,005 ( 1 Includes gains/losses on disposal of assets, unrealized mark-to-market adjustments on commodity contracts, foreign currency gains/losses and certain purchase accounting related adjustments. ( 2 Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods. ( 3 Represents transaction costs incurred directly in connection with any investment, as defined in our credit agreement; equity issuance, debt issuance or refinancing; together with certain fees relating to our senior secured credit facilities. ( 4 Represents charges relating to business optimization and restructuring costs. The Company’s sales in the United States represented approximately 71% three March 31, 2018 2017. 85% March 31, 2018 December 31, 2017.

Note 8 - Balance Sheet Details

Note 8 - Balance Sheet Details	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	8 . Balance Sheet Details Inventories consist of the following: March 31, December 31, 2017 Raw material $ 273,608 $ 242,947 Work-in-process 7,543 2,544 Finished goods 158,594 141,558 Total $ 439,745 $ 387,049 Property and equipment consists of the following: March 31, December 31, 2017 Land and improvements $ 13,396 $ 13,118 Buildings and improvements 141,532 132,072 Machinery and equipment 93,056 90,487 Dies and tools 25,410 24,504 Vehicles 1,736 1,878 Office equipment and systems 76,982 73,254 Leasehold improvements 1,748 2,436 Construction in progress 9,122 18,799 Gross property and equipment 362,982 356,548 Accumulated depreciation (130,959 ) (126,168 ) Total $ 232,023 $ 230,380

Note 9 - Product Warranty Oblig

Note 9 - Product Warranty Obligations	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	9 . Product Warranty Obligations The Company records a liability for product warranty obligations accounted for as assurance warranties at the time of sale to a customer based upon historical warranty experience. The Company also records a liability for specific warranty matters when they become known and are reasonably estimable. The following is a tabular reconciliation of the Company’s product warranty liability: Three Months Ended March 31, 2018 2017 Balance at beginning of period $ 35,422 $ 31,695 Product warranty reserve assumed in acquisition - 43 Payments (4,985 ) (4,560 ) Provision for warranty issued 5,203 4,160 Changes in estimates for pre-existing warranties 679 670 Balance at end of period $ 36,319 $ 32,008 Additionally, the Company sells extended warranty coverage for certain products, which it accounts for as a service warranty. The sales of extended warranties are recorded as deferred revenue, and typically have a duration of five ten Three Months Ended March 31, 2018 2017 Balance at beginning of period $ 57,854 $ 36,139 Deferred revenue contracts issued 4,716 1,969 Amortization of deferred revenue contracts (2,457 ) (546 ) Balance at end of period $ 60,113 $ 37,562 The timing of recognition of the Company’s deferred revenue balance related to extended warranties at March 31, 2018 Remainder of 2018 $ 9,196 2019 12,041 2020 10,666 2021 8,703 2022 6,811 After 2022 12,696 Total $ 60,113 In the second 2017, third March 31, 2018 $3,759, $127 three March 31, 2018. no three March 31, 2017. Product warranty obligations and extended warranty related deferred revenues are included in the condensed consolidated balance sheets as follows: March 31, December 31, 2018 2017 Product warranty liability Current portion - other accrued liabilities $ 20,556 $ 20,576 Long-term portion - other long-term liabilities 15,763 14,846 Total $ 36,319 $ 35,422 Deferred revenue related to extended warranties Current portion - other accrued liabilities $ 11,998 $ 11,017 Long-term portion - other long-term liabilities 48,115 46,837 Total $ 60,113 $ 57,854

Note 10 - Credit Agreements

Note 10 - Credit Agreements	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	10 . Credit Agreements Short-term borrowings are included in the condensed consolidated balance sheets as follows: March 31, December 31, 2018 2017 ABL facility $ - $ - Other lines of credit 31,414 20,602 Total $ 31,414 $ 20,602 Long-term borrowings are included in the condensed consolidated balance sheets as follows: March 31, December 31, 2018 2017 Term loan $ 929,000 $ 929,000 Original issue discount and deferred financing costs (25,760 ) (26,937 ) Capital lease obligation 4,650 4,690 Other 1,162 1,367 Total 909,052 908,120 Less: current portion of debt 944 936 Less: current portion of capital lease obligation 649 636 Total $ 907,459 $ 906,548 The Company’s credit agreements originally provided for a $1,200,000 $300,000 May 31, 2023 . first second 1.75% 2.75%, 0.75%. second 2014, 1.50% 2.50%, 3.00 1.00 In May 2017, 1.25% 2.25%. 3.00 1.00 not 0.75% 470 50, $1,432 second 2017. In December 2017, 1.00% 2.00%. 2017, 3.75 1.00 470 50, $2,346 fourth 2017. As of March 31, 2018, 2.47 1.00 no The Company’s credit agreements also provide for a $250,000 May 29, 2020. first second 0.50% 1.50%, No March 31, 2018 December 31, 2017, As of March 31, 2018 December 31, 2017, $31,414 $20,602,

Note 11 - Stock Repurchase Prog

Note 11 - Stock Repurchase Program	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Treasury Stock [Text Block]	11 . Stock Repurchase Program In August 2015, $200,000 third 2016. October 2016, $250,000 second may $250,000 24 may may may may three March 31, 2018, 560,000 $25,656, no three March 31, 2017. 8,676,706 $305,547,

Note 12 - Earnings Per Share

Note 12 - Earnings Per Share	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	1 2 . Earnings Per Share Basic earnings per share is calculated by dividing net income attributable to the common stockholders of the Company by the weighted average number of common shares outstanding during the period, exclusive of restricted shares. Except where the result would be anti-dilutive, diluted earnings per share is calculated by assuming the vesting of unvested restricted stock and the exercise of stock options. The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share: Three Months Ended March 31, 2018 2017 Numerator Net income attributable to Generac Holdings Inc. $ 33,645 $ 12,175 Redeemable noncontrolling interest redemption value adjustment (7,665 ) 614 Net income attributable to common shareholders $ 25,980 $ 12,789 Denominator Weighted average shares, basic 61,943,495 62,366,263 Dilutive effect of stock compensation awards (1) 531,441 569,863 Diluted shares 62,474,936 62,936,126 Net income attributable to common shareholders per share Basic $ 0.42 $ 0.21 Diluted $ 0.42 $ 0.20 ( 1 93,600 154,900 three March 31, 2018 March 31, 2017,

Note 13 - Income Taxes

Note 13 - Income Taxes	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	1 3 . Income Taxes The effective income tax rates for the three March 31, 2018 2017 25.3% 39.1%, 2018 December 22, 2017. The SEC staff issued SAB 118, 118 not one 740. 118, 740 740 December 31, 2017. no three March 31, 2018 2017 8 13 10 December 31, 2017.

Note 14 - Commitments and Conti

Note 14 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	1 4 . Commitments and Contingencies The Company has an arrangement with a finance company to provide floor plan financing for certain dealers. The Company receives payment from the finance company after shipment of product to the dealer. The Company participates in the cost of dealer financing up to certain limits and has agreed to repurchase products repossessed by the finance company, but does not March 31, 2018 December 31, 2017 $34,600 $36,500, In the normal course of business, the Company is named as a defendant in various lawsuits in which claims are asserted against the Company. In the opinion of management, the liabilities, if any, which may not

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Standards Not In February 2016, 2016 02, Leases 2019, In August 2017, 2017 12, Derivatives and Hedging – Targeted Improvements to Accounting for Hedging Activities 2019, There are several other new accounting pronouncements issued by the FASB. Each of these pronouncements, as applicable, has been or will be adopted by the Company. Management does not Recently Adopted Accounting Standards On January 1, 2018, 2017 07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost not On January 1, 2018, 2016 15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments On January 1, 2018, 2014 09, Revenue from Contracts with Customers The impact of adopting the above standards on the Company’s previously reported condensed consolidated financial statements is as follows: Condensed Consolidated Balance Sheet March 31, 2017 As Reported Impact of Adoption As Adjusted Accounts Receivable $ 223,031 $ (2,484 ) $ 220,547 Inventories 390,908 6,082 396,990 Other accrued liabilities 91,853 5,604 97,457 Deferred income taxes 27,376 (2,954 ) 24,422 Other long-term liabilities 62,129 5,548 67,677 Retained earnings $ 469,508 $ (4,600 ) $ 464,908 Condensed Consolidated Statement of Comprehensive Income Three Months Ended March 31, 2017 As Reported Impact of Adoption As Adjusted Net sales $ 331,814 $ (1,329 ) $ 330,485 Cost of goods sold 221,328 357 221,685 Selling and service expenses 40,184 (717 ) 39,467 Research and development expenses 10,301 (14 ) 10,287 Other, net (223 ) 140 (83 ) Provision for income taxes 8,251 (428 ) 7,823 Net income attributable to Generac Holdings Inc. $ 12,842 $ (667 ) $ 12,175 Earnings per share Basic $ 0.22 $ (0.01 ) $ 0.21 Diluted $ 0.21 $ (0.01 ) $ 0.20 Comprehensive income attributable to Generac Holdings Inc. $ 16,387 $ (667 ) $ 15,720 Condensed Consolidated Statement of Cash Flows Three Months Ended March 31, 2017 As Reported Impact of Adoption As Adjusted Net income $ 12,849 $ (667 ) $ 12,182 Deferred income taxes 6,958 (428 ) 6,530 Accounts receivable 19,973 395 20,368 Inventories (35,338 ) (337 ) (35,675 ) Other accrued liabilities (305 ) 408 103 Net cash used in operating activities $ (4,546 ) $ (629 ) $ (5,175 ) Proceeds from beneficial interests in securitization transactions $ - $ 629 $ 629 Net cash provided by (used in) investing activities $ (1,903 ) $ 629 $ (1,274 )

Note 1 - Description of Busin21

Note 1 - Description of Business and Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	Condensed Consolidated Balance Sheet March 31, 2017 As Reported Impact of Adoption As Adjusted Accounts Receivable $ 223,031 $ (2,484 ) $ 220,547 Inventories 390,908 6,082 396,990 Other accrued liabilities 91,853 5,604 97,457 Deferred income taxes 27,376 (2,954 ) 24,422 Other long-term liabilities 62,129 5,548 67,677 Retained earnings $ 469,508 $ (4,600 ) $ 464,908 Condensed Consolidated Statement of Comprehensive Income Three Months Ended March 31, 2017 As Reported Impact of Adoption As Adjusted Net sales $ 331,814 $ (1,329 ) $ 330,485 Cost of goods sold 221,328 357 221,685 Selling and service expenses 40,184 (717 ) 39,467 Research and development expenses 10,301 (14 ) 10,287 Other, net (223 ) 140 (83 ) Provision for income taxes 8,251 (428 ) 7,823 Net income attributable to Generac Holdings Inc. $ 12,842 $ (667 ) $ 12,175 Earnings per share Basic $ 0.22 $ (0.01 ) $ 0.21 Diluted $ 0.21 $ (0.01 ) $ 0.20 Comprehensive income attributable to Generac Holdings Inc. $ 16,387 $ (667 ) $ 15,720 Condensed Consolidated Statement of Cash Flows Three Months Ended March 31, 2017 As Reported Impact of Adoption As Adjusted Net income $ 12,849 $ (667 ) $ 12,182 Deferred income taxes 6,958 (428 ) 6,530 Accounts receivable 19,973 395 20,368 Inventories (35,338 ) (337 ) (35,675 ) Other accrued liabilities (305 ) 408 103 Net cash used in operating activities $ (4,546 ) $ (629 ) $ (5,175 ) Proceeds from beneficial interests in securitization transactions $ - $ 629 $ 629 Net cash provided by (used in) investing activities $ (1,903 ) $ 629 $ (1,274 ) Condensed Consolidated Balance Sheet December 31, 2017 As Reported Impact of Adoption As Adjusted Accounts Receivable $ 280,002 $ ( ) $ 279,294 Inventories 380,341 6,708 387,049 Other accrued liabilities 105,067 7,551 112,618 Deferred income taxes 43,789 ( ) 41,852 Other long-term liabilities 76,995 5,898 82,893 Retained earnings $ 616,347 $ ( ) $ 610,835

Note 3 - Redeemable Noncontro22

Note 3 - Redeemable Noncontrolling Interest (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Redeemable Noncontrolling Interest [Table Text Block]	Three Months Ended March 31, 2018 2017 Balance at beginning of period $ 43,929 $ 33,138 Net income (26 ) 118 Foreign currency translation 2,836 924 Redemption value adjustment 7,665 (614 ) Balance at end of period $ 54,404 $ 33,566

Note 4 - Derivative Instrumen23

Note 4 - Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Derivative Instruments [Table Text Block]	Hedged Item Contract Date Effective Date Notional Amount Fixed Price (per lb) Expiration Date Copper February 12, 2018 February 1, 2018 $ 3,776 $ 3.114 December 31, 2018 Copper March 8, 2018 March 9, 2018 $ 3,427 $ 3.109 December 31, 2018 Copper March 20, 2018 March 21, 2018 $ 3,418 $ 3.101 December 31, 2018 Copper March 20, 2018 March 21, 2018 $ 1,697 $ 3.079 December 31, 2018 Copper March 26, 2018 April 1, 2018 $ 3,003 $ 3.027 December 31, 2018
Schedule Of Derivative Assets (Liabilities) at Fair Value [Table Text Block]	March 31 , 8 December 31, 7 Commodity contracts $ (163 ) $ 107 Foreign currency contracts (25 ) 167 Interest rate swaps 13,339 4,356

Note 6 - Accumulated Other Co24

Note 6 - Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Foreign Currency Translation Adjustments Defined Benefit Pension Plan Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – January 1, 2018 $ (12,856 ) $ (10,978 ) $ 2,636 $ (21,198 ) Other comprehensive income before reclassifications 6,179 - 6,647 (1) 12,826 Amounts reclassified from AOCL - - - - Net current-period other comprehensive income 6,179 - 6,647 12,826 Ending Balance – March 31, 2018 $ (6,677 ) $ (10,978 ) $ 9,283 $ (8,372 ) Foreign Currency Translation Adjustments Defined Benefit Pension Plan Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – January 1, 2017 $ (28,047 ) $ (11,040 ) $ (1,076 ) $ (40,163 ) Other comprehensive income before reclassifications 3,600 - 440 (2) 4,040 Amounts reclassified from AOCL - - - - Net current-period other comprehensive income 3,600 - 440 4,040 Ending Balance – March 31, 2017 $ (24,447 ) $ (11,040 ) $ (636 ) $ (36,123 )

Note 7 - Segment Reporting (Tab

Note 7 - Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Revenue from External Customers by Products and Services [Table Text Block]	Net Sales by Segment Three Months Ended March 31, 2018 Product Classes Domestic International Total Residential products $ 176,685 $ 13,789 $ 190,474 Commercial & industrial products 97,771 77,354 175,125 Other 25,763 6,272 32,035 Total net sales $ 300,219 $ 97,415 $ 397,634 Net Sales by Segment Three Months Ended March 31, 2017 Product Classes Domestic International Total Residential products $ 141,701 $ 12,516 $ 154,217 Commercial & industrial products 84,765 65,988 150,753 Other 20,702 4,813 25,515 Total net sales $ 247,168 $ 83,317 $ 330,485 Adjusted EBITDA Three Months Ended March 31, 2018 2017 Domestic $ 65,475 $ 41,891 International 6,306 4,812 Total adjusted EBITDA $ 71,781 $ 46,703 Interest expense (10,113 ) (10,788 ) Depreciation and amortization (11,683 ) (12,597 ) Non-cash write-down and other adjustments (1) (1,306 ) (166 ) Non-cash share-based compensation expense (2) (3,106 ) (2,632 ) Transaction costs and credit facility fees (3) (262 ) (316 ) Business optimization expenses (4) (138 ) (100 ) Other 13 (99 ) Income before provision for income taxes $ 45,186 $ 20,005

Note 8 - Balance Sheet Details

Note 8 - Balance Sheet Details (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, December 31, 2017 Raw material $ 273,608 $ 242,947 Work-in-process 7,543 2,544 Finished goods 158,594 141,558 Total $ 439,745 $ 387,049
Property, Plant and Equipment [Table Text Block]	March 31, December 31, 2017 Land and improvements $ 13,396 $ 13,118 Buildings and improvements 141,532 132,072 Machinery and equipment 93,056 90,487 Dies and tools 25,410 24,504 Vehicles 1,736 1,878 Office equipment and systems 76,982 73,254 Leasehold improvements 1,748 2,436 Construction in progress 9,122 18,799 Gross property and equipment 362,982 356,548 Accumulated depreciation (130,959 ) (126,168 ) Total $ 232,023 $ 230,380

Note 9 - Product Warranty Obl27

Note 9 - Product Warranty Obligations (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended March 31, 2018 2017 Balance at beginning of period $ 35,422 $ 31,695 Product warranty reserve assumed in acquisition - 43 Payments (4,985 ) (4,560 ) Provision for warranty issued 5,203 4,160 Changes in estimates for pre-existing warranties 679 670 Balance at end of period $ 36,319 $ 32,008 Three Months Ended March 31, 2018 2017 Balance at beginning of period $ 57,854 $ 36,139 Deferred revenue contracts issued 4,716 1,969 Amortization of deferred revenue contracts (2,457 ) (546 ) Balance at end of period $ 60,113 $ 37,562
Schedule of Recognition of Deferred Revenue Related to Extended Warranties [Table Text Block]	Remainder of 2018 $ 9,196 2019 12,041 2020 10,666 2021 8,703 2022 6,811 After 2022 12,696 Total $ 60,113
Product Warranty Obligations Included In Consolidated Balance Sheet [Table Text Block]	March 31, December 31, 2018 2017 Product warranty liability Current portion - other accrued liabilities $ 20,556 $ 20,576 Long-term portion - other long-term liabilities 15,763 14,846 Total $ 36,319 $ 35,422 Deferred revenue related to extended warranties Current portion - other accrued liabilities $ 11,998 $ 11,017 Long-term portion - other long-term liabilities 48,115 46,837 Total $ 60,113 $ 57,854

Note 10 - Credit Agreements (Ta

Note 10 - Credit Agreements (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Short-term Debt [Table Text Block]	March 31, December 31, 2018 2017 ABL facility $ - $ - Other lines of credit 31,414 20,602 Total $ 31,414 $ 20,602
Schedule of Long-term Debt Instruments [Table Text Block]	March 31, December 31, 2018 2017 Term loan $ 929,000 $ 929,000 Original issue discount and deferred financing costs (25,760 ) (26,937 ) Capital lease obligation 4,650 4,690 Other 1,162 1,367 Total 909,052 908,120 Less: current portion of debt 944 936 Less: current portion of capital lease obligation 649 636 Total $ 907,459 $ 906,548

Note 12 - Earnings Per Share (T

Note 12 - Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2018 2017 Numerator Net income attributable to Generac Holdings Inc. $ 33,645 $ 12,175 Redeemable noncontrolling interest redemption value adjustment (7,665 ) 614 Net income attributable to common shareholders $ 25,980 $ 12,789 Denominator Weighted average shares, basic 61,943,495 62,366,263 Dilutive effect of stock compensation awards (1) 531,441 569,863 Diluted shares 62,474,936 62,936,126 Net income attributable to common shareholders per share Basic $ 0.42 $ 0.21 Diluted $ 0.42 $ 0.20

Note 1 - Description of Busin30

Note 1 - Description of Business and Basis of Presentation - Impact of Adopting Accounting Standards (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Accounts receivable, less allowance for doubtful accounts	$ 262,170	$ 220,547	$ 279,294
Inventories	439,745	396,990	387,049
Other accrued liabilities	122,546	97,457	112,618
Deferred income taxes	49,140	24,422	41,852
Other long-term liabilities	83,634	67,677	82,893
Retained earnings	636,814	464,908	610,835
Net sales	397,634	330,485
Costs of goods sold	257,645	221,685
Selling and service	42,682	39,467
Research and development	11,853	10,287
Other, net	1,383	(83)
Provision for income taxes	11,416	7,823
Net income attributable to Generac Holdings Inc.	$ 33,645	$ 12,175
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share)	$ 0.42	$ 0.21
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share)	$ 0.42	$ 0.20
Comprehensive income attributable to Generac Holdings Inc.	$ 44,703	$ 15,720
Net income	33,770	12,182
Deferred income taxes	4,283	6,530
Accounts receivable	18,744	20,368
Inventories	(48,798)	(35,675)
Other accrued liabilities	11,065	103
Net cash used in operating activities	28,968	(5,175)
Proceeds from beneficial interests in securitization transactions	867	629
Net cash provided by (used in) investing activities	(5,997)	(1,274)
Accounts Receivable	262,170	220,547	279,294
Inventories	439,745	396,990	387,049
Other accrued liabilities	122,546	97,457	112,618
Deferred income taxes	49,140	24,422	41,852
Other long-term liabilities	83,634	67,677	82,893
Retained earnings	$ 636,814	464,908	610,835
Previously Reported [Member]
Accounts receivable, less allowance for doubtful accounts		223,031	280,002
Inventories		390,908	380,341
Other accrued liabilities		91,853	105,067
Deferred income taxes		27,376	43,789
Other long-term liabilities		62,129	76,995
Retained earnings		469,508	616,347
Net sales		331,814
Costs of goods sold		221,328
Selling and service		40,184
Research and development		10,301
Other, net		(223)
Provision for income taxes		8,251
Net income attributable to Generac Holdings Inc.		$ 12,842
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share)		$ 0.22
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share)		$ 0.21
Comprehensive income attributable to Generac Holdings Inc.		$ 16,387
Net income		12,849
Deferred income taxes		6,958
Accounts receivable		19,973
Inventories		(35,338)
Other accrued liabilities		(305)
Net cash used in operating activities		(4,546)
Proceeds from beneficial interests in securitization transactions
Net cash provided by (used in) investing activities		(1,903)
Accounts Receivable		223,031	280,002
Inventories		390,908	380,341
Other accrued liabilities		91,853	105,067
Deferred income taxes		27,376	43,789
Other long-term liabilities		62,129	76,995
Retained earnings		469,508	616,347
Restatement Adjustment [Member] | Accounting Standards Update 2014-09 [Member]
Accounts receivable, less allowance for doubtful accounts		(2,484)	(708)
Inventories		6,082	6,708
Other accrued liabilities		5,604	7,551
Deferred income taxes		(2,954)	(1,937)
Other long-term liabilities		5,548	5,898
Retained earnings		(4,600)	(5,513)
Net sales		(1,329)
Costs of goods sold		357
Selling and service		(717)
Research and development		(14)
Other, net		140
Provision for income taxes		(428)
Net income attributable to Generac Holdings Inc.		$ (667)
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share)		$ (0.01)
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share)		$ (0.01)
Comprehensive income attributable to Generac Holdings Inc.		$ (667)
Net income		(667)
Deferred income taxes		(428)
Accounts receivable		395
Inventories		(337)
Other accrued liabilities		408
Net cash used in operating activities		(629)
Proceeds from beneficial interests in securitization transactions		629
Net cash provided by (used in) investing activities		629
Accounts Receivable		(2,484)	(708)
Inventories		6,082	6,708
Other accrued liabilities		5,604	7,551
Deferred income taxes		(2,954)	(1,937)
Other long-term liabilities		5,548	5,898
Retained earnings		$ (4,600)	$ (5,513)

Note 2 - Revenue Recognition (D

Note 2 - Revenue Recognition (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Contract with Customer, Liability, Total	$ 8,028	$ 7,034

Note 3 - Redeemable Noncontro32

Note 3 - Redeemable Noncontrolling Interest (Details Textual) - Pramac [Member] $ in Thousands	Mar. 01, 2016USD ($)
Business Acquisition, Percentage of Voting Interests Acquired	65.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	35.00%
Redeemable Noncontrolling Interest, Equity, Fair Value, Total	$ 34,253

Note 3 - Redeemable Noncontro33

Note 3 - Redeemable Noncontrolling Interest - Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Redemption value adjustment	$ (7,665)	$ 614
Redeemable Noncontrolling Interest [Member]
Balance at beginning of period	43,929	33,138
Net income	(26)	118
Foreign currency translation	2,836	924
Redemption value adjustment	7,665	(614)
Balance at end of period	$ 54,404	$ 33,566

Note 4 - Derivative Instrumen34

Note 4 - Derivative Instruments and Hedging Activities (Details Textual) $ in Thousands	1 Months Ended		3 Months Ended		12 Months Ended
	May 31, 2014	Oct. 31, 2013	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Derivative Assets (Liabilities), Net Fair Value of Derivative Contracts, Excluding Impact of Credit Risk			$ 13,375		$ 4,703
Commodity Contract [Member]
Derivative, Number of Instruments Held, Total			5	1	1
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Cost of Sales [Member]
Derivative, Gain (Loss) on Derivative, Net, Total			$ (156)	$ 183
Commodity Contract [Member] | Maximum [Member]
Derivative, Remaining Maturity			1 year 180 days
Foreign Exchange Contract [Member]
Derivative, Number of Instruments Held, Total			22	19	28
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Other, Net [Member]
Derivative, Gain (Loss) on Derivative, Net, Total			$ 227	$ (201)
Foreign Exchange Contract [Member] | Maximum [Member]
Derivative, Remaining Maturity			1 year
Interest Rate Swap [Member]
Number of New Contracts Entered	1	2			20
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax			$ 6,647	$ 440

Note 4 - Derivative Instrumen35

Note 4 - Derivative Instruments and Hedging Activities - Commodity Forward Contracts (Details) - Not Designated as Hedging Instrument [Member] $ in Thousands	Mar. 31, 2018USD ($)$ / item
Commodity Contract on February 12, 2018 [Member]
Notional amount | $	$ 3,776
Fixed rate (in USD per Per Share) | $ / item	3.114
Commodity Contract on March 8, 2018 [Member]
Notional amount | $	$ 3,427
Fixed rate (in USD per Per Share) | $ / item	3.109
First Commodity Contract on March 20, 2018 [Member]
Notional amount | $	$ 3,418
Fixed rate (in USD per Per Share) | $ / item	3.101
Second Commodity Contract on March 20, 2018 [Member]
Notional amount | $	$ 1,697
Fixed rate (in USD per Per Share) | $ / item	3.079
Commodity Contract on March 26, 2018 [Member]
Notional amount | $	$ 3,003
Fixed rate (in USD per Per Share) | $ / item	3.027

Note 4 - Derivative Instrumen36

Note 4 - Derivative Instruments and Hedging Activities - Fair Value of Derivatives (Details) - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Commodity Contract [Member]
Fair Value of Derivatives	$ (163)	$ 107
Foreign Exchange Contract [Member]
Fair Value of Derivatives	(25)	167
Interest Rate Swap [Member]
Fair Value of Derivatives	$ 13,339	$ 4,356

Note 5 - Fair Value Measureme37

Note 5 - Fair Value Measurements (Details Textual) - Fair Value, Inputs, Level 2 [Member] $ in Thousands	Mar. 31, 2018USD ($)
Long-term Debt, Total	$ 904,044
Long-term Debt, Fair Value	$ 904,587

Note 6 - Accumulated Other Co38

Note 6 - Accumulated Other Comprehensive Loss (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other Comprehensive Income (Loss), before Reclassifications, before Tax	$ 8,982	$ 723
Other Comprehensive Income (Loss) before Reclassifications, Tax, Total	$ (2,335)	$ (283)

Note 6 - Accumulated Other Co39

Note 6 - Accumulated Other Comprehensive Loss - Disclosure of Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018		Mar. 31, 2017
Beginning Balance	$ 554,319
Ending Balance	570,194
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Beginning Balance	(12,856)		$ (28,047)
Other comprehensive income (loss) before reclassifications	6,179		3,600
Amounts reclassified from AOCL
Other comprehensive loss	6,179		3,600
Ending Balance	(6,677)		(24,447)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Beginning Balance	(10,978)		(11,040)
Other comprehensive income (loss) before reclassifications
Amounts reclassified from AOCL
Other comprehensive loss
Ending Balance	(10,978)		(11,040)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Beginning Balance	2,636		(1,076)
Other comprehensive income (loss) before reclassifications	6,647	[1]	440	[2]
Amounts reclassified from AOCL
Other comprehensive loss	6,647		440
Ending Balance	9,283		(636)
AOCI Attributable to Parent [Member]
Beginning Balance	(21,198)		(40,163)
Other comprehensive income (loss) before reclassifications	12,826		4,040
Amounts reclassified from AOCL
Other comprehensive loss	12,826		4,040
Ending Balance	$ (8,372)		$ (36,123)
[1]	Represents unrealized gains of $8,982, net of tax effect of $(2,335) for the three months ended March 31, 2018.
[2]	Represents unrealized gains of $723, net of tax effect of $(283) for the three months ended March 31, 2017.

Note 7 - Segment Reporting (Det

Note 7 - Segment Reporting (Details Textual)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Number of Reportable Segments	2
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | UNITED STATES
Concentration Risk, Percentage	71.00%	71.00%
Geographic Concentration Risk [Member] | Net Assets, Geographic Area [Member] | UNITED STATES
Concentration Risk, Percentage	85.00%		85.00%

Note 7 - Segment Reporting - Ne

Note 7 - Segment Reporting - Net Sales by Products and Services (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Net sales		$ 397,634	$ 330,485
Total adjusted EBITDA		71,781	46,703
Interest expense		(10,113)	(10,788)
Depreciation and amortization		(11,683)	(12,597)
Non-cash write-down and other adjustments (1)	[1]	(1,306)	(166)
Non-cash share-based compensation expense (2)	[2]	(3,106)	(2,632)
Transaction costs and credit facility fees (3)	[3]	(262)	(316)
Business optimization expenses (4)	[4]	(138)	(100)
Other		13	(99)
Income before provision for income taxes		45,186	20,005
Domestic [Member]
Net sales		300,219	247,168
Total adjusted EBITDA		65,475	41,891
International [Member]
Net sales		97,415	83,317
Total adjusted EBITDA		6,306	4,812
Residential Power Products [Member]
Net sales		190,474	154,217
Residential Power Products [Member] | Domestic [Member]
Net sales		176,685	141,701
Residential Power Products [Member] | International [Member]
Net sales		13,789	12,516
Commercial and Industrial Power Products [Member]
Net sales		175,125	150,753
Commercial and Industrial Power Products [Member] | Domestic [Member]
Net sales		97,771	84,765
Commercial and Industrial Power Products [Member] | International [Member]
Net sales		77,354	65,988
Other Products and Services [Member]
Net sales		32,035	25,515
Other Products and Services [Member] | Domestic [Member]
Net sales		25,763	20,702
Other Products and Services [Member] | International [Member]
Net sales		$ 6,272	$ 4,813
[1]	Includes gains/losses on disposal of assets, unrealized mark-to-market adjustments on commodity contracts, foreign currency gains/losses and certain purchase accounting related adjustments.
[2]	Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods.
[3]	Represents transaction costs incurred directly in connection with any investment, as defined in our credit agreement; equity issuance, debt issuance or refinancing; together with certain fees relating to our senior secured credit facilities.
[4]	Represents charges relating to business optimization and restructuring costs.

Note 8 - Balance Sheet Detail42

Note 8 - Balance Sheet Details - Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Raw material	$ 273,608	$ 242,947
Work-in-process	7,543	2,544
Finished goods	158,594	141,558
Total	$ 439,745	$ 387,049	$ 396,990

Note 8 - Balance Sheet Detail43

Note 8 - Balance Sheet Details - Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Property and equipment, gross	$ 362,982	$ 356,548
Accumulated depreciation	(130,959)	(126,168)
Total	232,023	230,380
Land and Land Improvements [Member]
Property and equipment, gross	13,396	13,118
Building and Building Improvements [Member]
Property and equipment, gross	141,532	132,072
Machinery and Equipment [Member]
Property and equipment, gross	93,056	90,487
Dies and Tools [Member]
Property and equipment, gross	25,410	24,504
Vehicles [Member]
Property and equipment, gross	1,736	1,878
Office Equipment [Member]
Property and equipment, gross	76,982	73,254
Leasehold Improvements [Member]
Property and equipment, gross	1,748	2,436
Construction in Progress [Member]
Property and equipment, gross	$ 9,122	$ 18,799

Note 9 - Product Warranty Obl44

Note 9 - Product Warranty Obligations (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Capitalized Contract Cost, Net, Total	$ 3,759	$ 0
Capitalized Contract Cost, Amortization	$ 127	$ 0
Minimum [Member]
Extended Warranty Term	5 years
Maximum [Member]
Extended Warranty Term	10 years

Note 9 - Product Warranty Obl45

Note 9 - Product Warranty Obligations - Reconciliation of Product Warranty Liability (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Balance at beginning of period		$ 35,422	$ 31,695
Product warranty reserve assumed in acquisition			43
Payments		(4,985)	(4,560)
Provision for warranty issued		5,203	4,160
Changes in estimates for pre-existing warranties		679	670
Balance at end of period		36,319	32,008
Balance at beginning of period		57,854	36,139
Deferred revenue contracts issued	[1]	4,716	1,969
Amortization of deferred revenue contracts		(2,457)	(546)
Balance at end of period		$ 60,113	$ 37,562
[1]	The increase in deferred revenue contracts issued during 2017 was largely due to the launch of a post-sale extended warranty program.

Note 9 - Product Warranty Obl46

Note 9 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Remainder of 2018	$ 9,196
2,019	12,041
2,020	10,666
2,021	8,703
2,022	6,811
After 2,022	12,696
Total	$ 60,113	$ 57,854	$ 37,562	$ 36,139

Note 9 - Product Warranty Obl47

Note 9 - Product Warranty Obligations - Deferred Product Obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Current portion - other accrued liabilities	$ 20,556	$ 20,576
Long-term portion - other long-term liabilities	15,763	14,846
Total	36,319	35,422	$ 32,008	$ 31,695
Current portion - other accrued liabilities	11,998	11,017
Long-term portion - other long-term liabilities	48,115	46,837
Total	$ 60,113	$ 57,854	$ 37,562	$ 36,139

Note 10 - Credit Agreements (De

Note 10 - Credit Agreements (Details Textual) $ in Thousands	May 31, 2013USD ($)	Dec. 31, 2017USD ($)	May 31, 2017	Mar. 31, 2018USD ($)	Jun. 30, 2014	Jun. 30, 2017USD ($)
Net Debt Leverage Ratio Threshold				2.47
Short-term Debt, Total		$ 20,602		$ 31,414
ABL Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity				250,000
Long-term Line of Credit, Total		$ 0		$ 0
Base Rate [Member] | ABL Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate				0.50%
Adjusted LIBOR Rate [Member] | ABL Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate				1.50%
Term Loan [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,200,000
Uncommitted Incremental Term Loan Facility	$ 300,000
Net Debt Leverage Ratio Threshold		3.75			3
Net Debt Leverage Ratio Not Achieved			3
Debt Issuance Costs, Net, Total		$ 2,346				$ 1,432
Term Loan [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1.75%	1.00%	1.25%
Term Loan [Member] | Base Rate [Member] | Net Debt Leverage Ratio Threshold [Member]
Debt Instrument, Basis Spread on Variable Rate					1.50%
Term Loan [Member] | Adjusted LIBOR Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	2.75%	2.00%	2.25%
Term Loan [Member] | Adjusted LIBOR Rate [Member] | Net Debt Leverage Ratio Threshold [Member]
Debt Instrument, Basis Spread on Variable Rate					2.50%
Term Loan [Member] | LIBOR Floor Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.75%		0.75%

Note 10 - Credit Agreements - S

Note 10 - Credit Agreements - Short-term Borrowings (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Short-term borrowings	$ 31,414	$ 20,602
ABL Revolving Credit Facility [Member]
Short-term borrowings	0	0
Other Lines of Credit [Member]
Short-term borrowings	$ 31,414	$ 20,602

Note 10 - Credit Agreements - L

Note 10 - Credit Agreements - Long-term Borrowings (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Term loan	$ 929,000	$ 929,000
Original issue discount and deferred financing costs	(25,760)	(26,937)
Capital lease obligation	4,650	4,690
Other	1,162	1,367
Total	909,052	908,120
Less: current portion of debt	944	936
Less: current portion of capital lease obligation	649	636
Total	$ 907,459	$ 906,548

Note 11 - Stock Repurchase Pr51

Note 11 - Stock Repurchase Program (Details Textual) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		32 Months Ended
	Oct. 31, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Aug. 31, 2015
Stock Repurchase Program, Authorized Amount	$ 250,000				$ 200,000
Stock Repurchase Program, Period in Force	2 years
Payments for Repurchase of Common Stock		$ 25,656		$ 305,547
Treasury Stock [Member]
Shares Acquired Under Stock Repurchases Program, Shares		560,000	0	8,676,706

Note 12 - Earnings Per Share (D

Note 12 - Earnings Per Share (Details Textual) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	93,600	154,900

Note 12 - Earnings Per Share -

Note 12 - Earnings Per Share - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Net income attributable to Generac Holdings Inc.		$ 33,645	$ 12,175
Redeemable noncontrolling interest redemption value adjustment		(7,665)	614
Net income attributable to common shareholders		$ 25,980	$ 12,789
Weighted average shares, basic (in shares)		61,943,495	62,366,263
Dilutive effect of stock compensation awards (in shares)	[1]	531,441	569,863
Diluted shares (in shares)		62,474,936	62,936,126
Basic (in dollars per share)		$ 0.42	$ 0.21
Diluted (in dollars per share)		$ 0.42	$ 0.20
[1]	Excludes approximately 93,600 and 154,900 stock options for the three months ended March 31, 2018 and March 31, 2017, respectively, as the impact of such awards was anti-dilutive.

Note 13 - Income Taxes (Details

Note 13 - Income Taxes (Details Textual)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Effective Income Tax Rate Reconciliation, Percent, Total	25.30%	39.10%

Note 14 - Commitments and Con55

Note 14 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Amount Financed by Dealers	$ 34.6	$ 36.5