Generac (GNRC) 10-Q 5 Nov 19 2019 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Document Information [Line Items]
Entity Central Index Key	0001474735
Entity Registrant Name	GENERAC HOLDINGS INC.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-34627
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-5654756
Entity Address, Address Line One	S45 W29290 Hwy 59
Entity Address, City or Town	Waukesha
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53189
City Area Code	262
Local Phone Number	544-4811
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	GNRC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		62,541,881

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 216,038	$ 224,482
Accounts receivable, less allowance for doubtful accounts	373,591	326,133
Inventories	517,232	544,750
Prepaid expenses and other assets	30,570	25,404
Total current assets	1,137,431	1,120,769
Property and equipment, net	303,288	278,929
Customer lists, net	55,649	61,194
Patents, net	75,781	29,970
Other intangible assets, net	11,809	3,043
Tradenames, net	149,155	152,283
Goodwill	811,914	764,655
Deferred income taxes	3,217	163
Operating lease and other assets	45,877	15,308
Total assets	2,594,121	2,426,314
Current liabilities:
Short-term borrowings	66,985	45,583
Accounts payable	241,290	328,091
Accrued wages and employee benefits	37,401	40,819
Other accrued liabilities	127,786	144,236
Current portion of long-term borrowings and finance lease obligations	2,554	1,977
Total current liabilities	476,016	560,706
Long-term borrowings and finance lease obligations	884,315	876,396
Deferred income taxes	92,520	71,300
Operating lease and other long-term liabilities	145,491	95,647
Total liabilities	1,598,342	1,604,049
Redeemable noncontrolling interests	56,564	61,004
Stockholders’ equity:
Common stock, par value $0.01, 500,000,000 shares authorized, 71,640,792 and 71,186,418 shares issued at September 30, 2019 and December 31, 2018, respectively	716	712
Additional paid-in capital	492,671	476,116
Treasury stock, at cost	(324,351)	(321,473)
Excess purchase price over predecessor basis	(202,116)	(202,116)
Retained earnings	1,013,707	831,123
Accumulated other comprehensive loss	(46,363)	(23,813)
Stockholders' equity attributable to Generac Holdings, Inc.	934,264	760,549
Noncontrolling interests	4,951	712
Total stockholders' equity	939,215	761,261
Total liabilities and stockholders’ equity	$ 2,594,121	$ 2,426,314

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
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)	71,640,792	71,186,418

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net sales		$ 601,135	$ 562,388	$ 1,613,404	$ 1,460,060
Costs of goods sold		383,618	362,054	1,037,874	939,326
Gross profit		217,517	200,334	575,530	520,734
Operating expenses:
Selling and service		59,356	48,985	158,954	141,874
Research and development		17,603	13,653	48,906	38,122
General and administrative		27,596	25,499	80,016	75,613
Amortization of intangibles		7,406	5,678	19,999	16,792
Total operating expenses		111,961	93,815	307,875	272,401
Income from operations		105,556	106,519	267,655	248,333
Other (expense) income:
Interest expense		(10,704)	(9,824)	(31,428)	(30,939)
Investment income		523	382	1,889	1,095
Loss on extinguishment of debt	[1]	0	0	0	(1,332)
Other, net		(414)	(483)	(1,868)	(2,764)
Total other expense, net		(10,595)	(9,925)	(31,407)	(33,940)
Income before provision for income taxes		94,961	96,594	236,248	214,393
Provision for income taxes		20,064	20,072	53,876	49,870
Net income		74,897	76,522	182,372	164,523
Net (loss) income attributable to noncontrolling interests		(677)	746	(21)	1,841
Net income attributable to Generac Holdings Inc.		$ 75,574	$ 75,776	$ 182,393	$ 162,682
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share)		$ 1.20	$ 1.12	$ 2.95	$ 2.36
Weighted average common shares outstanding - basic: (in shares)		61,973,447	61,579,564	61,878,500	61,659,817
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share)		$ 1.18	$ 1.11	$ 2.92	$ 2.34
Weighted average common shares outstanding - diluted: (in shares)		62,770,592	62,220,298	62,519,205	62,266,140
Comprehensive income attributable to Generac Holdings Inc.		$ 64,904	$ 80,768	$ 161,828	$ 173,355
[1]	Represents the non-cash write-off of original issue discount and deferred financing costs due to a voluntary prepayment of Term Loan debt.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Excess Purchase Price over Predecessor Basis [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2017	70,820,173		(8,448,874)
Balance at Dec. 31, 2017	$ 708	$ 459,816	$ (294,005)	$ (202,116)	$ 610,836	$ (21,198)	$ 554,041	$ 279	$ 554,320
Acquisition of business	0	0	0	0	0	0	0	0	0
Unrealized gain/loss on interest rate swaps, net of tax	0	0	0	0	0	10,403	10,403	0	10,403
Foreign currency translation adjustment	$ 0	0	$ 0	0	0	1,238	1,238	0	1,238
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)	285,400		0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price	$ 3	4,160	$ 0	0	0	0	4,163	0	4,163
Net share settlement of restricted stock awards (in shares)	0		(36,803)
Net share settlement of restricted stock awards	$ 0	0	$ (1,737)	0	0	0	(1,737)	0	(1,737)
Stock repurchases	0	0	(25,655)	0	0	0	(25,655)	0	(25,655)
Cash dividends paid to noncontrolling interest of subsidiary	0	0	0	0	0	0	0	(314)	(314)
Share-based compensation	0	9,910	0	0	0	0	9,910	0	9,910
Redemption value adjustment	0	0	0	0	(16,882)	0	(16,882)	0	(16,882)
Net income	$ 0	0	$ 0	0	162,682	0	162,682	507	163,189
Stock repurchases (in shares)			(560,000)
Balance (in shares) at Sep. 30, 2018	71,105,573		(9,045,677)
Balance at Sep. 30, 2018	$ 711	473,886	$ (321,397)	(202,116)	756,636	(9,557)	698,163	472	698,635
Balance (in shares) at Jun. 30, 2018	71,030,347		(9,039,480)
Balance at Jun. 30, 2018	$ 710	468,598	$ (321,052)	(202,116)	687,772	(16,900)	617,012	243	617,255
Acquisition of business	0	0	0	0	0	0	0	0	0
Unrealized gain/loss on interest rate swaps, net of tax	0	0	0	0	0	1,626	1,626	(5)	1,621
Foreign currency translation adjustment	$ 0	0	$ 0	0	0	5,717	5,717	0	5,717
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)	75,226		0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price	$ 1	2,369	$ 0	0	0	0	2,370	0	2,370
Net share settlement of restricted stock awards (in shares)	0		(6,197)
Net share settlement of restricted stock awards	$ 0	0	$ (345)	0	0	0	(345)	0	(345)
Stock repurchases	0	0	0	0	0	0	0	0	0
Cash dividends paid to noncontrolling interest of subsidiary	0	0	0	0	0	0	0	0	0
Share-based compensation	0	2,919	0	0	0	0	2,919	0	2,919
Redemption value adjustment	0	0	0	0	(6,912)	0	(6,912)	0	(6,912)
Net income	$ 0	0	$ 0	0	75,776	0	75,776	234	76,010
Balance (in shares) at Sep. 30, 2018	71,105,573		(9,045,677)
Balance at Sep. 30, 2018	$ 711	473,886	$ (321,397)	(202,116)	756,636	(9,557)	698,163	472	698,635
Balance (in shares) at Dec. 31, 2018	71,186,418		(9,047,060)
Balance at Dec. 31, 2018	$ 712	476,116	$ (321,473)	(202,116)	831,123	(23,813)	760,549	712	761,261
Acquisition of business	0	0	0	0	0	0	0	4,125	4,125
Unrealized gain/loss on interest rate swaps, net of tax	0	0	0	0	0	(14,898)	(14,898)	0	(14,898)
Foreign currency translation adjustment	$ 0	0	$ 0	0	0	(7,652)	(7,652)	27	(7,625)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)	454,374		0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price	$ 4	5,078	$ 0	0	0	0	5,082	0	5,082
Net share settlement of restricted stock awards (in shares)	0		(53,862)
Net share settlement of restricted stock awards	$ 0	0	$ (2,878)	0	0	0	(2,878)	0	(2,878)
Stock repurchases	0	0	0	0	0	0	0	0	0
Cash dividends paid to noncontrolling interest of subsidiary	0	0	0	0	0	0	0	(285)	(285)
Share-based compensation	0	11,477	0	0	0	0	11,477	0	11,477
Redemption value adjustment	0	0	0	0	191	0	191	0	191
Net income	$ 0	0	$ 0	0	182,393	0	182,393	372	182,765
Stock repurchases (in shares)			0
Balance (in shares) at Sep. 30, 2019	71,640,792		(9,100,922)
Balance at Sep. 30, 2019	$ 716	492,671	$ (324,351)	(202,116)	1,013,707	(46,363)	934,264	4,951	939,215
Balance (in shares) at Jun. 30, 2019	71,471,341		(9,098,294)
Balance at Jun. 30, 2019	$ 715	485,703	$ (324,149)	(202,116)	939,618	(33,831)	865,940	5,071	871,011
Acquisition of business	0	0	0	0	0	0	0	0	0
Unrealized gain/loss on interest rate swaps, net of tax	0	0	0	0	0	(2,721)	(2,721)	0	(2,721)
Foreign currency translation adjustment	$ 0	0	$ 0	0	0	(9,811)	(9,811)	(11)	(9,822)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)	169,451		0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price	$ 1	3,419	$ 0	0	0	0	3,420	0	3,420
Net share settlement of restricted stock awards (in shares)	0		(2,628)
Net share settlement of restricted stock awards	$ 0	0	$ (202)	0	0	0	(202)	0	(202)
Stock repurchases	0	0	0	0	0	0	0	0	0
Cash dividends paid to noncontrolling interest of subsidiary	0	0	0	0	0	0	0	0	0
Share-based compensation	0	3,549	0	0	0	0	3,549	0	3,549
Redemption value adjustment	0	0	0	0	(1,485)	0	(1,485)	0	(1,485)
Net income	$ 0	0	$ 0	0	75,574	0	75,574	(109)	75,465
Stock repurchases (in shares)			0
Balance (in shares) at Sep. 30, 2019	71,640,792		(9,100,922)
Balance at Sep. 30, 2019	$ 716	$ 492,671	$ (324,351)	$ (202,116)	$ 1,013,707	$ (46,363)	$ 934,264	$ 4,951	$ 939,215

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
AOCI Attributable to Parent [Member]
Unrealized gain (loss) on interest rate swaps, tax	$ (956)	$ 571	$ (5,234)	$ 3,654

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018
Operating activities
Net income		$ 182,372	$ 164,523
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation		22,842	18,332
Amortization of intangible assets		19,999	16,792
Amortization of original issue discount and deferred financing costs		3,597	3,554
Loss on extinguishment of debt	[1]	0	1,332
Deferred income taxes		19,514	17,218
Share-based compensation expense	[2]	11,477	9,910
Other		557	1,249
Net changes in operating assets and liabilities, net of acquisitions:
Accounts receivable		(45,543)	(55,649)
Inventories		27,190	(99,957)
Other assets		1,488	(16,488)
Accounts payable		(83,174)	47,559
Accrued wages and employee benefits		(7,517)	13,044
Other accrued liabilities		(17,092)	18,011
Excess tax benefits from equity awards		(1,908)	(432)
Net cash provided by operating activities		133,802	138,998
Investing activities
Proceeds from sale of property and equipment		83	213
Proceeds from beneficial interests in securitization transactions		2,036	2,825
Expenditures for property and equipment		(45,447)	(25,577)
Acquisition of business, net of cash acquired		(120,863)	(71,926)
Net cash used in investing activities		(164,191)	(94,465)
Financing activities
Proceeds from short-term borrowings		68,802	28,332
Proceeds from long-term borrowings		0	51,425
Repayments of short-term borrowings		(45,437)	(12,478)
Repayments of long-term borrowings and finance lease obligations		(3,110)	(51,164)
Stock repurchases		0	(25,656)
Cash dividends paid to noncontrolling interest of subsidiary		(285)	(314)
Payment of debt issuance costs		0	(1,702)
Taxes paid related to equity awards		(5,749)	(2,777)
Proceeds from exercise of stock options		7,957	5,191
Net cash provided by (used in) financing activities		22,178	(9,143)
Effect of exchange rate changes on cash and cash equivalents		(233)	139
Net (decrease) increase in cash and cash equivalents		(8,444)	35,529
Cash and cash equivalents at beginning of period		224,482	138,472
Cash and cash equivalents at end of period		$ 216,038	$ 174,001
[1]	Represents the non-cash write-off of original issue discount and deferred financing costs due to a voluntary prepayment of Term Loan debt.
[2]	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	9 Months Ended
	Sep. 30, 2019
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, 2018). ● In June 2018, 10kW 2,750kW. ● In February 2019, 2010 ● In March 2019, 2005 ● In April 2019, 2010 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 September 30, 2019, three nine September 30, 2019 2018, three nine September 30, 2019 2018, nine September 30, 2019 2018 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, 2018. New Accounting Standards Not In June 2016, 2016 13, Financial Instruments – Credit Losses (Topic 326 Measurement of Credit Losses on Financial Instruments December 15, 2019, may Recently Adopted Accounting Standards On April 1, 2019, 2018 15, Intangibles – Goodwill and Other – Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. not On January 1, 2019, 2016 02, Leases no not 9, On January 1, 2019, 2018 02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2017 not There are several 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

Note 2 - Acquisitions

Note 2 - Acquisitions	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Business Combination Disclosure [Text Block]	2 . Acquisitions Acquisition of Pika On April 26, 2019, The Company recorded a preliminary purchase price allocation during the second 2019 not September 30, 2019. Acquisition of Neurio On March 12, 2019, three September 30, 2019. The Company recorded a preliminary purchase price allocation in the second 2019 September 30, 2019. Acquisition of Selmec On June 1, 2018, The Company finalized the Selmec purchase price allocation during the second 2019 not September 30, 2019. Overall, the net sales contribution from all non-annualized acquisitions to the three nine September 30, 2019

Note 3 - Redeemable Noncontroll

Note 3 - Redeemable Noncontrolling Interest	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Redeemable Noncontrolling Interest [Text Block]	3. On March 1, 2016, February 2019, five five no April 1, 2021. 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 14, Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Balance at beginning of period $ 59,117 $ 53,035 $ 61,004 $ 43,929 Net income (563 ) 519 (388 ) 1,341 Foreign currency translation (3,475 ) (569 ) (3,861 ) (2,255 ) Redemption value adjustment 1,485 6,912 (191 ) 16,882 Balance at end of period $ 56,564 $ 59,897 $ 56,564 $ 59,897

Note 4 - Derivative Instruments

Note 4 - Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2019
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 The Company periodically utilizes commodity derivatives and foreign currency forward purchase and sales contracts in the normal course of business. Because these contracts do not not Interest Rate Swaps The Company entered into two interest rate swap agreements in October 2013 May 2014, July 2018. 2017, twenty sixteen September 30, 2019. three nine September 30, 2019 three nine September 30, 2018 Fair Value The following table presents the fair value of all of the Company’s derivatives: September 30 , 9 December 31, 8 Commodity contracts $ (172 ) $ (160 ) Foreign currency contracts (302 ) (117 ) Interest rate swaps (11,826 ) 8,307 The fair value of the commodity and foreign currency contracts is included in other accrued liabilities, and the fair value of the interest rate swaps is included in other accrued liabilities and other long-term liabilities in the condensed consolidated balance sheets as of September 30, 2019. December 31, 2018. September 30, 2019 December 31, 2018

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
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 $861,231, was approximately $881,198 (Level 2 September 30, 2019, For the fair value of the derivatives measured on a recurring basis, refer to the fair value table in Note 4, 2. 820 10.

Note 6 - Accumulated Other Comp

Note 6 - Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	6. Loss The following presents a tabular disclosure of changes in AOCL during the three nine September 30, 2019 2018, Foreign Currency Translation Adjustments Defined Benefit Pension Plan Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – July 1, 2019 $ (16,673 ) $ (10,541 ) $ (6,617 ) $ (33,831 ) Other comprehensive loss before reclassifications (9,811 ) - (2,721 ) (1) (12,532 ) Amounts reclassified from AOCL - - - - Net current-period other comprehensive loss (9,811 ) - (2,721 ) (12,532 ) Ending Balance – September 30, 2019 $ (26,484 ) $ (10,541 ) $ (9,338 ) $ (46,363 ) Foreign Currency Translation Adjustments Defined Benefit Pension Plan Unrealized Gain on Cash Flow Hedges Total Beginning Balance – July 1, 2018 $ (17,335 ) $ (10,978 ) $ 11,413 $ (16,900 ) Other comprehensive income before reclassifications 5,717 - 1,626 (2) 7,343 Amounts reclassified from AOCL - - - - Net current-period other comprehensive income 5,717 - 1,626 7,343 Ending Balance – September 30, 2018 $ (11,618 ) $ (10,978 ) $ 13,039 $ (9,557 ) Foreign Currency Translation Adjustments Defined Benefit Pension Plan Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – January 1, 2019 $ (18,832 ) $ (10,541 ) $ 5,560 $ (23,813 ) Other comprehensive loss before reclassifications (7,652 ) - (14,898 ) (3) (22,550 ) Amounts reclassified from AOCL - - - - Net current-period other comprehensive loss (7,652 ) - (14,898 ) (22,550 ) Ending Balance – September 30, 2019 $ (26,484 ) $ (10,541 ) $ (9,338 ) $ (46,363 ) Foreign Currency Translation Adjustments Defined Benefit Pension Plan Unrealized Gain on Cash Flow Hedges Total Beginning Balance – January 1, 2018 $ (12,856 ) $ (10,978 ) $ 2,636 $ (21,198 ) Other comprehensive income before reclassifications 1,238 - 10,403 (4) 11,641 Amounts reclassified from AOCL - - - - Net current-period other comprehensive income 1,238 - 10,403 11,641 Ending Balance – September 30, 2018 $ (11,618 ) $ (10,978 ) $ 13,039 $ (9,557 ) ( 1 Represents unrealized losses of $(3,677), net of tax effect of $956, for the three September 30, 2019. ( 2 Represents unrealized gains of $2,197, net of tax effect of $(571), for the three September 30, 2018. ( 3 Represents unrealized losses of $(20,132), net of tax effect of $5,234, for the nine September 30, 2019. ( 4 Represents unrealized gains of $14,057, net of tax effect of $(3,654), for the nine September 30, 2018.

Note 7 - Segment Reporting

Note 7 - Segment Reporting	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	7 . Segment Reporting The Company has tworeportable segments for financial reporting purposes - Domestic and International. The Domestic segment includes the legacy Generac business and the acquisitions that are based in the U.S. and Canada, all of which have revenues that are substantially derived from the U.S. and Canada. The International segment includes the Ottomotores, Tower Light, Pramac, Motortech and Selmec businesses, all of which have revenues that are substantially derived from outside of the U.S and Canada. Both reportable segments design and manufacture a wide range of power generation equipment and other power products. The Company has multiple operating segments, which it aggregates into the two The Company's product offerings consist primarily of power generation equipment and other power products geared for varying end customer uses. Residential products and commercial & industrial (C&I) products are each a similar class of products based on similar power output and end customer. The breakout of net sales between residential, C&I, and other products by reportable segment is as follows: Net Sales by Segment Three Months Ended September 30, 2019 Product Classes Domestic International Total Residential products $ 324,096 $ 10,933 $ 335,029 Commercial & industrial products 133,559 81,346 214,905 Other 40,508 10,693 51,201 Total net sales $ 498,163 $ 102,972 $ 601,135 Three Months Ended September 30, 2018 Product Classes Domestic International Total Residential products $ 300,387 $ 11,531 $ 311,918 Commercial & industrial products 121,952 84,414 206,366 Other 33,793 10,311 44,104 Total net sales $ 456,132 $ 106,256 $ 562,388 Nine Months Ended September 30, 2019 Product Classes Domestic International Total Residential products $ 784,459 $ 36,774 $ 821,233 Commercial & industrial products 394,545 259,913 654,458 Other 104,344 33,369 137,713 Total net sales $ 1,283,348 $ 330,056 $ 1,613,404 Nine Months Ended September 30, 2018 Product Classes Domestic International Total Residential products $ 711,203 $ 37,587 $ 748,790 Commercial & industrial products 340,244 256,875 597,119 Other 91,040 23,111 114,151 Total net sales $ 1,142,487 $ 317,573 $ 1,460,060 Residential products consist primarily of automatic home standby generators ranging in output from 6kW 60kW, C&I products consist of larger output stationary generators used in various C&I applications and fueled by diesel, natural gas, liquid propane and bi-fuel, with power outputs ranging from 10kW 3,250kW Other products consist primarily of aftermarket service parts and product accessories sold to our dealers, and the amortization of extended warranty deferred revenue. The aftermarket service parts and product accessories are generally transferred to the customer at a point in time, while the extended warranty revenue is recognized over the life of the contract. In accordance with ASU 2014 09, Revenue from Contracts with Customers not 2014 09, three September 30, 2018 nine September 30, 2018 third 2018 10 no 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 contained in the Company’s credit agreements. Adjusted EBITDA Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Domestic $ 121,217 $ 117,108 $ 306,723 $ 273,185 International 4,736 7,366 18,244 25,300 Total adjusted EBITDA $ 125,953 $ 124,474 $ 324,967 $ 298,485 Interest expense (10,704 ) (9,824 ) (31,428 ) (30,939 ) Depreciation and amortization (15,494 ) (11,841 ) (42,841 ) (35,124 ) Non-cash write-down and other adjustments (1) (347 ) (900 ) (673 ) (3,522 ) Non-cash share-based compensation expense (2) (3,549 ) (2,919 ) (11,477 ) (9,910 ) Loss on extinguishment of debt (3) - - - (1,332 ) Transaction costs and credit facility fees (4) (358 ) (1,767 ) (2,047 ) (2,470 ) Business optimization expenses (5) (567 ) (583 ) (809 ) (750 ) Other 27 (46 ) 556 (45 ) Income before provision for income taxes $ 94,961 $ 96,594 $ 236,248 $ 214,393 ( 1 Includes certain foreign currency and purchase accounting related adjustments, gains/losses on disposal of assets and unrealized mark-to-market adjustments on commodity contracts. ( 2 Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods. ( 3 Represents the non-cash write-off of original issue discount and deferred financing costs due to a voluntary prepayment of Term Loan debt. ( 4 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. ( 5 Represents severance and other non-recurring restructuring charges related to the consolidation of certain of our facilities. The Company’s sales in the United States represented approximately 78% of total sales for the three September 30, 2019 2018. nine September 30, 2019 2018, September 30, 2019 December 31, 2018,

Note 8 - Balance Sheet Details

Note 8 - Balance Sheet Details	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	8 . Balance Sheet Details Inventories consist of the following: September 30, December 31, 2018 Raw material $ 323,864 $ 348,980 Work-in-process 8,815 6,971 Finished goods 184,553 188,799 Total $ 517,232 $ 544,750 Property and equipment consists of the following: September 30, December 31, 2018 Land and improvements $ 17,753 $ 15,975 Buildings and improvements 174,226 163,161 Machinery and equipment 114,359 103,726 Dies and tools 20,947 28,198 Vehicles 3,344 2,070 Office equipment and systems 93,357 82,638 Leasehold improvements 4,076 2,137 Construction in progress 28,139 26,543 Gross property and equipment 456,201 424,448 Accumulated depreciation (152,913 ) (145,519 ) Total $ 303,288 $ 278,929 Total property and equipment included capital leases of $20,158 at December 31, 2018, nine September 30, 2019. 9, 842, Leases , 2019.

Note 9 - Leases

Note 9 - Leases	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	9. The Company determines if an arrangement is or contains a lease at contract inception. The Company recognizes a right of use ("ROU") asset and lease liability at the lease commencement date based on the present value of the lease payments over the lease term. As the Company’s leases generally do not may The Company has lease agreements with both lease and nonlease components, which it elected to account for as a single lease component. However, the Company did not The Company leases certain manufacturing facilities, distribution centers, office space, warehouses, automobiles, machinery and computer equipment globally under both finance and operating leases. The Company’s leases have remaining lease terms of up to 20 years, of which certain leases, primarily within the buildings and improvements asset class, include options to extend the leases for up to 10 additional years. Further, the Company leases certain buildings from a noncontrolling interest holder, which the Company has determined to be arms’ length transactions. The Company is a lessor of one third not The Company records its operating lease cost and amortization of finance lease ROU assets within cost of goods sold or operating expenses in the condensed consolidated statements of comprehensive income depending on the cost center of the underlying asset. The Company records its finance lease interest cost within interest expense in the condensed consolidated statements of comprehensive income. The components of total lease cost consist of the following: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease cost $ 2,312 $ 7,263 Finance lease cost: Amortization of ROU assets 643 1,873 Interest on lease liabilities 554 1,696 Total lease cost $ 3,509 $ 10,832 Prior to the adoption of ASC 842, As of January 1, 2019, 2016 02, September 30, 2019 Operating Leases Operating lease ROU assets (1) $ 37,270 Operating lease liabilities - current (2) $ 7,519 Operating lease liabilities - noncurrent (3) 30,693 Total operating lease liabilities $ 38,212 Finance Leases Finance lease ROU assets, gross $ 29,353 Accumulated depreciation - finance lease ROU assets (3,326 ) Finance lease ROU assets, net (4) $ 26,027 Finance lease liabilities - current (5) $ 1,813 Finance lease liabilities - noncurrent (6) 24,158 Total finance lease liabilities $ 25,971 ( 1 Recorded in the operating lease and other assets line ( 2 Recorded in the other accrued liabilities line ( 3 Recorded in the operating lease and other long-term liabilities line ( 4 Recorded in the property and equipment, net line ( 5 Recorded in the current portion of long-term borrowings and finance lease obligations line ( 6 Recorded in the long-term borrowings and finance lease obligations line Supplemental cash flow information related to the Company’s leases is as follows: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,565 $ 7,951 Operating cash flows from finance leases 471 1,393 Financing cash flows from finance leases 905 2,261 ROU assets obtained in exchange for lease liabilities Operating leases 989 3,782 Finance leases 194 8,165 Weighted average remaining lease term and discount rate information related to the Company’s leases is as follows: September 30, 2019 Weighted average remaining lease term (in years) Operating Leases 7.00 Finance Leases 14.24 Weighted average discount rate Operating Leases 5.51 % Finance Leases 7.87 % The maturities of the Company’s lease liabilities are as follows: As of September 30, 2019 Finance Leases Operating Leases Remainder of 2019 $ 934 $ 2,481 2020 3,519 8,934 2021 3,158 6,898 2022 3,388 5,368 2023 2,655 4,581 After 2023 32,016 18,338 Total minimum lease payments 45,670 46,600 Interest component (19,699 ) (8,388 ) Present value of minimum lease payments $ 25,971 $ 38,212 As of December 31, 2018 Capital Leases Operating Leases 2019 $ 2,166 $ 8,914 2020 2,477 7,575 2021 2,053 6,379 2022 1,995 4,955 2023 1,889 4,482 After 2023 18,108 18,614 Total minimum lease payments 28,688 $ 50,919 Interest component (8,517 ) Present value of minimum lease payments $ 20,171

Note 10 - Product Warranty Obli

Note 10 - Product Warranty Obligations	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	1 . Product Warranty Obligations The Company records a liability for standard 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 standard product warranty liability accounted for as an assurance warranty: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Balance at beginning of period $ 45,324 $ 38,660 $ 41,785 $ 35,422 Product warranty reserve assumed in acquisition - - 407 - Payments (7,576 ) (5,205 ) (18,867 ) (15,097 ) Provision for warranty issued 8,518 8,074 23,656 19,552 Changes in estimates for pre-existing warranties 230 (974 ) (485 ) 678 Balance at end of period $ 46,496 $ 40,555 $ 46,496 $ 40,555 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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Balance at beginning of period $ 74,517 $ 63,007 $ 68,340 $ 57,854 Deferred revenue contracts issued 5,918 4,787 18,832 15,029 Amortization of deferred revenue contracts (3,573 ) (2,873 ) (10,310 ) (7,962 ) Balance at end of period $ 76,862 $ 64,921 $ 76,862 $ 64,921 The timing of recognition of the Company’s deferred revenue balance related to extended warranties at September 30, 2019 Remainder of 2019 $ 3,704 2020 15,250 2021 15,678 2022 13,831 2023 10,535 After 2023 17,864 Total $ 76,862 Standard product warranty obligations and extended warranty related deferred revenues are included in the condensed consolidated balance sheets as follows: September 30, December 31, 2019 2018 Product warranty liability Current portion - other accrued liabilities $ 27,109 $ 25,396 Long-term portion - other long-term liabilities 19,387 16,389 Total $ 46,496 $ 41,785 Deferred revenue related to extended warranties Current portion - other accrued liabilities $ 15,924 $ 13,646 Long-term portion - other long-term liabilities 60,938 54,694 Total $ 76,862 $ 68,340

Note 11 - Contract Balances

Note 11 - Contract Balances	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	11. In certain cases, the Company’s customers pay for their goods in advance. These prepayments are recognized as customer deposits (contract liabilities) and recorded in other accrued liabilities in the condensed consolidated balance sheets. The balance of customer deposits was $7,814 and $14,174 at September 30, 2019 December 31, 2018, nine September 30, 2019, December 31, 2018 one

Note 12 - Credit Agreements

Note 12 - Credit Agreements	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Debt Disclosure [Text Block]	12 . Credit Agreements Short-term borrowings are included in the condensed consolidated balance sheets as follows: September 30, December 31, 2019 2018 ABL facility $ 28,479 $ 18,459 Other lines of credit 38,506 27,124 Total $ 66,985 $ 45,583 Long-term borrowings are included in the condensed consolidated balance sheets as follows: September 30, December 31, 2019 2018 Term loan $ 879,000 $ 879,000 Original issue discount and deferred financing costs (18,843 ) (22,440 ) Finance lease obligation 25,971 20,171 Other 741 1,642 Total 886,869 878,373 Less: current portion of debt 741 1,075 Less: current portion of finance lease obligation 1,813 902 Total $ 884,315 $ 876,396 The Company’s credit agreements originally provided for a $1,200,000 term loan B credit facility (Term Loan) and currently include a $300,000 uncommitted incremental term loan facility. The maturity date of the Term Loan is May 31, 2023. first second In June 2018, The Term Loan does not 1.00 September 30, 2019, 1.00 no The Company’s credit agreements also originally provided for a senior secured ABL revolving credit facility (ABL Facility). Borrowings under the ABL Facility are guaranteed by all of the Company’s wholly-owned domestic restricted subsidiaries, and are secured by associated collateral agreements which pledge a first second In June 2018, June 12, 2023. As of September 30, 2019, As of September 30, 2019 December 31, 2018,

Note 13 - Stock Repurchase Prog

Note 13 - Stock Repurchase Program	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Treasury Stock [Text Block]	13 . Stock Repurchase Program In August 2015, third 2016. October 2016, fourth 2018. September 2018, October 2018, may 24 may may may may nine September 30, 2018, no three nine September 30, 2019.

Note 14 - Earnings Per Share

Note 14 - Earnings Per Share	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	1 4 . 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. Refer to Note 3, The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Numerator Net income attributable to Generac Holdings Inc. $ 75,574 $ 75,776 $ 182,393 $ 162,682 Redeemable noncontrolling interest redemption value adjustment (1,485 ) (6,912 ) 191 (16,882 ) Net income attributable to common shareholders $ 74,089 $ 68,864 $ 182,584 $ 145,800 Denominator Weighted average shares, basic 61,973,447 61,579,564 61,878,500 61,659,817 Dilutive effect of stock compensation awards (1) 797,145 640,734 640,705 606,323 Diluted shares 62,770,592 62,220,298 62,519,205 62,266,140 Net income attributable to common shareholders per share Basic $ 1.20 $ 1.12 $ 2.95 $ 2.36 Diluted $ 1.18 $ 1.11 $ 2.92 $ 2.34 ( 1 three nine September 30, 2018, three nine September 30, 2019.

Note 15 - Income Taxes

Note 15 - Income Taxes	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	1 5 . Income Taxes The effective income tax rates for the nine September 30, 2019 2018

Note 16 - Benefit Plans

Note 16 - Benefit Plans	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	16. In June 2019, second 2019, third 2019, may third fourth 2019. not 2008 one December 31, 2018. September 30, 2019,

Note 17 - Commitments and Conti

Note 17 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	1 7 . 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 September 30, 2019 December 31, 2018 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)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Standards Not In June 2016, 2016 13, Financial Instruments – Credit Losses (Topic 326 Measurement of Credit Losses on Financial Instruments December 15, 2019, may Recently Adopted Accounting Standards On April 1, 2019, 2018 15, Intangibles – Goodwill and Other – Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. not On January 1, 2019, 2016 02, Leases no not 9, On January 1, 2019, 2018 02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2017 not There are several 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

Note 3 - Redeemable Noncontro_2

Note 3 - Redeemable Noncontrolling Interest (Tables)	9 Months Ended
	Sep. 30, 2019
Notes Tables
Redeemable Noncontrolling Interest [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Balance at beginning of period $ 59,117 $ 53,035 $ 61,004 $ 43,929 Net income (563 ) 519 (388 ) 1,341 Foreign currency translation (3,475 ) (569 ) (3,861 ) (2,255 ) Redemption value adjustment 1,485 6,912 (191 ) 16,882 Balance at end of period $ 56,564 $ 59,897 $ 56,564 $ 59,897

Note 4 - Derivative Instrumen_2

Note 4 - Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule Of Derivative Assets (Liabilities) at Fair Value [Table Text Block]	September 30 , 9 December 31, 8 Commodity contracts $ (172 ) $ (160 ) Foreign currency contracts (302 ) (117 ) Interest rate swaps (11,826 ) 8,307

Note 6 - Accumulated Other Co_2

Note 6 - Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2019
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 – July 1, 2019 $ (16,673 ) $ (10,541 ) $ (6,617 ) $ (33,831 ) Other comprehensive loss before reclassifications (9,811 ) - (2,721 ) (1) (12,532 ) Amounts reclassified from AOCL - - - - Net current-period other comprehensive loss (9,811 ) - (2,721 ) (12,532 ) Ending Balance – September 30, 2019 $ (26,484 ) $ (10,541 ) $ (9,338 ) $ (46,363 ) Foreign Currency Translation Adjustments Defined Benefit Pension Plan Unrealized Gain on Cash Flow Hedges Total Beginning Balance – July 1, 2018 $ (17,335 ) $ (10,978 ) $ 11,413 $ (16,900 ) Other comprehensive income before reclassifications 5,717 - 1,626 (2) 7,343 Amounts reclassified from AOCL - - - - Net current-period other comprehensive income 5,717 - 1,626 7,343 Ending Balance – September 30, 2018 $ (11,618 ) $ (10,978 ) $ 13,039 $ (9,557 ) Foreign Currency Translation Adjustments Defined Benefit Pension Plan Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – January 1, 2019 $ (18,832 ) $ (10,541 ) $ 5,560 $ (23,813 ) Other comprehensive loss before reclassifications (7,652 ) - (14,898 ) (3) (22,550 ) Amounts reclassified from AOCL - - - - Net current-period other comprehensive loss (7,652 ) - (14,898 ) (22,550 ) Ending Balance – September 30, 2019 $ (26,484 ) $ (10,541 ) $ (9,338 ) $ (46,363 ) Foreign Currency Translation Adjustments Defined Benefit Pension Plan Unrealized Gain on Cash Flow Hedges Total Beginning Balance – January 1, 2018 $ (12,856 ) $ (10,978 ) $ 2,636 $ (21,198 ) Other comprehensive income before reclassifications 1,238 - 10,403 (4) 11,641 Amounts reclassified from AOCL - - - - Net current-period other comprehensive income 1,238 - 10,403 11,641 Ending Balance – September 30, 2018 $ (11,618 ) $ (10,978 ) $ 13,039 $ (9,557 )

Note 7 - Segment Reporting (Tab

Note 7 - Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2019
Notes Tables
Disaggregation of Revenue [Table Text Block]	Net Sales by Segment Three Months Ended September 30, 2019 Product Classes Domestic International Total Residential products $ 324,096 $ 10,933 $ 335,029 Commercial & industrial products 133,559 81,346 214,905 Other 40,508 10,693 51,201 Total net sales $ 498,163 $ 102,972 $ 601,135 Three Months Ended September 30, 2018 Product Classes Domestic International Total Residential products $ 300,387 $ 11,531 $ 311,918 Commercial & industrial products 121,952 84,414 206,366 Other 33,793 10,311 44,104 Total net sales $ 456,132 $ 106,256 $ 562,388 Nine Months Ended September 30, 2019 Product Classes Domestic International Total Residential products $ 784,459 $ 36,774 $ 821,233 Commercial & industrial products 394,545 259,913 654,458 Other 104,344 33,369 137,713 Total net sales $ 1,283,348 $ 330,056 $ 1,613,404 Nine Months Ended September 30, 2018 Product Classes Domestic International Total Residential products $ 711,203 $ 37,587 $ 748,790 Commercial & industrial products 340,244 256,875 597,119 Other 91,040 23,111 114,151 Total net sales $ 1,142,487 $ 317,573 $ 1,460,060
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Adjusted EBITDA Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Domestic $ 121,217 $ 117,108 $ 306,723 $ 273,185 International 4,736 7,366 18,244 25,300 Total adjusted EBITDA $ 125,953 $ 124,474 $ 324,967 $ 298,485 Interest expense (10,704 ) (9,824 ) (31,428 ) (30,939 ) Depreciation and amortization (15,494 ) (11,841 ) (42,841 ) (35,124 ) Non-cash write-down and other adjustments (1) (347 ) (900 ) (673 ) (3,522 ) Non-cash share-based compensation expense (2) (3,549 ) (2,919 ) (11,477 ) (9,910 ) Loss on extinguishment of debt (3) - - - (1,332 ) Transaction costs and credit facility fees (4) (358 ) (1,767 ) (2,047 ) (2,470 ) Business optimization expenses (5) (567 ) (583 ) (809 ) (750 ) Other 27 (46 ) 556 (45 ) Income before provision for income taxes $ 94,961 $ 96,594 $ 236,248 $ 214,393

Note 8 - Balance Sheet Details

Note 8 - Balance Sheet Details (Tables)	9 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, December 31, 2018 Raw material $ 323,864 $ 348,980 Work-in-process 8,815 6,971 Finished goods 184,553 188,799 Total $ 517,232 $ 544,750
Property, Plant and Equipment [Table Text Block]	September 30, December 31, 2018 Land and improvements $ 17,753 $ 15,975 Buildings and improvements 174,226 163,161 Machinery and equipment 114,359 103,726 Dies and tools 20,947 28,198 Vehicles 3,344 2,070 Office equipment and systems 93,357 82,638 Leasehold improvements 4,076 2,137 Construction in progress 28,139 26,543 Gross property and equipment 456,201 424,448 Accumulated depreciation (152,913 ) (145,519 ) Total $ 303,288 $ 278,929

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease cost $ 2,312 $ 7,263 Finance lease cost: Amortization of ROU assets 643 1,873 Interest on lease liabilities 554 1,696 Total lease cost $ 3,509 $ 10,832
Schedule of Components of Lease Assets and Liabilities [Table Text Block]	September 30, 2019 Operating Leases Operating lease ROU assets (1) $ 37,270 Operating lease liabilities - current (2) $ 7,519 Operating lease liabilities - noncurrent (3) 30,693 Total operating lease liabilities $ 38,212 Finance Leases Finance lease ROU assets, gross $ 29,353 Accumulated depreciation - finance lease ROU assets (3,326 ) Finance lease ROU assets, net (4) $ 26,027 Finance lease liabilities - current (5) $ 1,813 Finance lease liabilities - noncurrent (6) 24,158 Total finance lease liabilities $ 25,971
Schedule of Leases Cash Flow Information [Table Text Block]	Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,565 $ 7,951 Operating cash flows from finance leases 471 1,393 Financing cash flows from finance leases 905 2,261 ROU assets obtained in exchange for lease liabilities Operating leases 989 3,782 Finance leases 194 8,165
Lease, Term and Discount Rate [Table Text Block]	September 30, 2019 Weighted average remaining lease term (in years) Operating Leases 7.00 Finance Leases 14.24 Weighted average discount rate Operating Leases 5.51 % Finance Leases 7.87 %
Operating and Finance Lease, Liability, Maturity [Table Text Block]	As of September 30, 2019 Finance Leases Operating Leases Remainder of 2019 $ 934 $ 2,481 2020 3,519 8,934 2021 3,158 6,898 2022 3,388 5,368 2023 2,655 4,581 After 2023 32,016 18,338 Total minimum lease payments 45,670 46,600 Interest component (19,699 ) (8,388 ) Present value of minimum lease payments $ 25,971 $ 38,212
Schedule of Future Minimum Rental Payments for Finance and Operating Leases [Table Text Block]	As of December 31, 2018 Capital Leases Operating Leases 2019 $ 2,166 $ 8,914 2020 2,477 7,575 2021 2,053 6,379 2022 1,995 4,955 2023 1,889 4,482 After 2023 18,108 18,614 Total minimum lease payments 28,688 $ 50,919 Interest component (8,517 ) Present value of minimum lease payments $ 20,171

Note 10 - Product Warranty Ob_2

Note 10 - Product Warranty Obligations (Tables)	9 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Balance at beginning of period $ 45,324 $ 38,660 $ 41,785 $ 35,422 Product warranty reserve assumed in acquisition - - 407 - Payments (7,576 ) (5,205 ) (18,867 ) (15,097 ) Provision for warranty issued 8,518 8,074 23,656 19,552 Changes in estimates for pre-existing warranties 230 (974 ) (485 ) 678 Balance at end of period $ 46,496 $ 40,555 $ 46,496 $ 40,555 Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Balance at beginning of period $ 74,517 $ 63,007 $ 68,340 $ 57,854 Deferred revenue contracts issued 5,918 4,787 18,832 15,029 Amortization of deferred revenue contracts (3,573 ) (2,873 ) (10,310 ) (7,962 ) Balance at end of period $ 76,862 $ 64,921 $ 76,862 $ 64,921
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]	Remainder of 2019 $ 3,704 2020 15,250 2021 15,678 2022 13,831 2023 10,535 After 2023 17,864 Total $ 76,862
Product Warranty Obligations Included In Consolidated Balance Sheet [Table Text Block]	September 30, December 31, 2019 2018 Product warranty liability Current portion - other accrued liabilities $ 27,109 $ 25,396 Long-term portion - other long-term liabilities 19,387 16,389 Total $ 46,496 $ 41,785 Deferred revenue related to extended warranties Current portion - other accrued liabilities $ 15,924 $ 13,646 Long-term portion - other long-term liabilities 60,938 54,694 Total $ 76,862 $ 68,340

Note 12 - Credit Agreements (Ta

Note 12 - Credit Agreements (Tables)	9 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Short-term Debt [Table Text Block]	September 30, December 31, 2019 2018 ABL facility $ 28,479 $ 18,459 Other lines of credit 38,506 27,124 Total $ 66,985 $ 45,583
Schedule of Long-term Debt Instruments [Table Text Block]	September 30, December 31, 2019 2018 Term loan $ 879,000 $ 879,000 Original issue discount and deferred financing costs (18,843 ) (22,440 ) Finance lease obligation 25,971 20,171 Other 741 1,642 Total 886,869 878,373 Less: current portion of debt 741 1,075 Less: current portion of finance lease obligation 1,813 902 Total $ 884,315 $ 876,396

Note 14 - Earnings Per Share (T

Note 14 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Numerator Net income attributable to Generac Holdings Inc. $ 75,574 $ 75,776 $ 182,393 $ 162,682 Redeemable noncontrolling interest redemption value adjustment (1,485 ) (6,912 ) 191 (16,882 ) Net income attributable to common shareholders $ 74,089 $ 68,864 $ 182,584 $ 145,800 Denominator Weighted average shares, basic 61,973,447 61,579,564 61,878,500 61,659,817 Dilutive effect of stock compensation awards (1) 797,145 640,734 640,705 606,323 Diluted shares 62,770,592 62,220,298 62,519,205 62,266,140 Net income attributable to common shareholders per share Basic $ 1.20 $ 1.12 $ 2.95 $ 2.36 Diluted $ 1.18 $ 1.11 $ 2.92 $ 2.34

Note 2 - Acquisitions (Details

Note 2 - Acquisitions (Details Textual) - USD ($) $ in Thousands	Apr. 26, 2019	Mar. 12, 2019	Jun. 01, 2018	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Payments to Acquire Businesses, Net of Cash Acquired, Total					$ 120,863	$ 71,926
Goodwill, Ending Balance				$ 811,914	811,914		$ 764,655
Pika [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total	$ 49,068
Business Acquisition, Purchase Price Allocation, Intangible Assets Including Goodwill	55,986
Goodwill, Ending Balance	$ 23,286
Neurio [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total		$ 59,071
Business Acquisition, Purchase Price Allocation, Intangible Assets Including Goodwill		58,511
Goodwill, Ending Balance		24,011
Business Combination, Liabilities Arising from Contingencies, Amount Recognized		$ 7,922
Selmec [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total			$ 79,972
Business Acquisition, Purchase Price Allocation, Intangible Assets Including Goodwill			79,826
Goodwill, Ending Balance			46,196
Business Combination, Liabilities Arising from Contingencies, Amount Recognized			$ 14,902
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual				$ 4,814	$ 32,018

Note 3 - Redeemable Noncontro_3

Note 3 - Redeemable Noncontrolling Interest (Details Textual) - USD ($) $ in Thousands	1 Months Ended
	Feb. 28, 2019	Mar. 01, 2016
Pramac [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		35.00%
Pramac [Member]
Business Acquisition, Percentage of Voting Interests Acquired		65.00%
Redeemable Noncontrolling Interest, Equity, Fair Value, Total		$ 34,253
Noncontrolling Interest Agreement, Extension of Term	5 years

Note 3 - Redeemable Noncontro_4

Note 3 - Redeemable Noncontrolling Interest - Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Redemption value adjustment	$ (1,485)	$ (6,912)	$ 191	$ (16,882)
Redeemable Noncontrolling Interest [Member]
Balance at beginning of period	59,117	53,035	61,004	43,929
Net income	(563)	519	(388)	1,341
Foreign currency translation	(3,475)	(569)	(3,861)	(2,255)
Redemption value adjustment	1,485	6,912	(191)	16,882
Balance at end of period	$ 56,564	$ 59,897	$ 56,564	$ 59,897

Note 4 - Derivative Instrumen_3

Note 4 - Derivative Instruments and Hedging Activities (Details Textual) $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	May 31, 2014	Oct. 31, 2013	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2017	Dec. 31, 2018USD ($)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax			$ (2,721)	$ 1,621	$ (14,898)	$ 10,403
Derivative Assets (Liabilities), Net Fair Value of Derivative Contracts, Excluding Impact of Credit Risk			12,498		12,498			$ 8,220
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			$ (2,721)	$ 1,626	$ (14,898)	$ 10,403

Note 4 - Derivative Instrumen_4

Note 4 - Derivative Instruments and Hedging Activities - Fair Value of Derivatives (Details) - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Commodity Contract [Member]
Fair Value of Derivatives	$ (172)	$ (160)
Foreign Exchange Contract [Member]
Fair Value of Derivatives	(302)	(117)
Interest Rate Swap [Member]
Fair Value of Derivatives	$ (11,826)	$ 8,307

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurements (Details Textual) $ in Thousands	Sep. 30, 2019USD ($)
Long-term Debt, Total	$ 861,231
Long-term Debt, Fair Value	$ 881,198

Note 6 - Accumulated Other Co_3

Note 6 - Accumulated Other Comprehensive Loss (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Other Comprehensive Income (Loss), before Reclassifications, before Tax	$ (3,677)	$ 2,197	$ (20,132)	$ 14,057
Other Comprehensive Income (Loss) before Reclassifications, Tax, Total	$ 956	$ (571)	$ 5,234	$ (3,654)

Note 6 - Accumulated Other Co_4

Note 6 - Accumulated Other Comprehensive Loss - Disclosure of Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2019		Sep. 30, 2018		Sep. 30, 2019		Sep. 30, 2018
Balance	$ 871,011		$ 617,255		$ 761,261		$ 554,320
Balance	939,215		698,635		939,215		698,635
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(16,673)		(17,335)		(18,832)		(12,856)
Other comprehensive loss before reclassifications	(9,811)		5,717		(7,652)		1,238
Amounts reclassified from AOCL	0		0		0		0
Net current-period other comprehensive loss	(9,811)		5,717		(7,652)		1,238
Balance	(26,484)		(11,618)		(26,484)		(11,618)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Balance	(10,541)		(10,978)		(10,541)		(10,978)
Other comprehensive loss before reclassifications	0		0		0		0
Amounts reclassified from AOCL	0		0		0		0
Net current-period other comprehensive loss	0		0		0		0
Balance	(10,541)		(10,978)		(10,541)		(10,978)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Balance	(6,617)		11,413		5,560		2,636
Other comprehensive loss before reclassifications	(2,721)	[1]	1,626	[2]	(14,898)	[3]	10,403	[4]
Amounts reclassified from AOCL	0		0		0		0
Net current-period other comprehensive loss	(2,721)		1,626		(14,898)		10,403
Balance	(9,338)		13,039		(9,338)		13,039
AOCI Attributable to Parent [Member]
Balance	(33,831)		(16,900)		(23,813)		(21,198)
Other comprehensive loss before reclassifications	(12,532)		7,343		(22,550)		11,641
Amounts reclassified from AOCL	0		0		0		0
Net current-period other comprehensive loss	(12,532)		7,343		(22,550)		11,641
Balance	$ (46,363)		$ (9,557)		$ (46,363)		$ (9,557)
[1]	Represents unrealized losses of $(3,677), net of tax effect of $956, for the three months ended September 30, 2019.
[2]	Represents unrealized gains of $2,197, net of tax effect of $(571), for the three months ended September 30, 2018.
[3]	Represents unrealized losses of $(20,132), net of tax effect of $5,234, for the nine months ended September 30, 2019.
[4]	Represents unrealized gains of $14,057, net of tax effect of $(3,654), for the nine months ended September 30, 2018.

Note 7 - Segment Reporting (Det

Note 7 - Segment Reporting (Details Textual) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2018
Number of Reportable Segments			2
Gross Profit, Total	$ 217,517	$ 200,334	$ 575,530	$ 520,734
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | UNITED STATES
Concentration Risk, Percentage	78.00%	78.00%	75.00%	74.00%
Geographic Concentration Risk [Member] | Net Assets, Geographic Area [Member] | UNITED STATES
Concentration Risk, Percentage			81.00%		80.00%
Accounting Standards Update 2014-09 [Member] | Restatement Adjustment [Member]
Revenue from Contract with Customer, Including Assessed Tax		$ 2,873		$ 7,962
Gross Profit, Total		$ 2,449		$ 6,604

Note 7 - Segment Reporting - Ne

Note 7 - Segment Reporting - Net Sales by Products and Services (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net sales	$ 601,135	$ 562,388	$ 1,613,404	$ 1,460,060
Residential Power Products [Member]
Net sales	335,029	311,918	821,233	748,790
Commercial and Industrial Power Products [Member]
Net sales	214,905	206,366	654,458	597,119
Other Products and Services [Member]
Net sales	51,201	44,104	137,713	114,151
Domestic [Member]
Net sales	498,163	456,132	1,283,348	1,142,487
Domestic [Member] | Residential Power Products [Member]
Net sales	324,096	300,387	784,459	711,203
Domestic [Member] | Commercial and Industrial Power Products [Member]
Net sales	133,559	121,952	394,545	340,244
Domestic [Member] | Other Products and Services [Member]
Net sales	40,508	33,793	104,344	91,040
International [Member]
Net sales	102,972	106,256	330,056	317,573
International [Member] | Residential Power Products [Member]
Net sales	10,933	11,531	36,774	37,587
International [Member] | Commercial and Industrial Power Products [Member]
Net sales	81,346	84,414	259,913	256,875
International [Member] | Other Products and Services [Member]
Net sales	$ 10,693	$ 10,311	$ 33,369	$ 23,111

Note 7 - Segment Reporting - Se

Note 7 - Segment Reporting - Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Total adjusted EBITDA		$ 125,953	$ 124,474	$ 324,967	$ 298,485
Interest expense		(10,704)	(9,824)	(31,428)	(30,939)
Depreciation and amortization		(15,494)	(11,841)	(42,841)	(35,124)
Non-cash write-down and other adjustments (1)	[1]	(347)	(900)	(673)	(3,522)
Non-cash share-based compensation expense (2)	[2]	(3,549)	(2,919)	(11,477)	(9,910)
Loss on extinguishment of debt	[3]	0	0	0	(1,332)
Transaction costs and credit facility fees (4)	[4]	(358)	(1,767)	(2,047)	(2,470)
Business optimization expenses (5)	[5]	(567)	(583)	(809)	(750)
Other		27	(46)	556	(45)
Income before provision for income taxes		94,961	96,594	236,248	214,393
Domestic [Member]
Total adjusted EBITDA		121,217	117,108	306,723	273,185
International [Member]
Total adjusted EBITDA		$ 4,736	$ 7,366	$ 18,244	$ 25,300
[1]	Includes certain foreign currency and purchase accounting related adjustments, gains/losses on disposal of assets and unrealized mark-to-market adjustments on commodity contracts.
[2]	Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods.
[3]	Represents the non-cash write-off of original issue discount and deferred financing costs due to a voluntary prepayment of Term Loan debt.
[4]	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.
[5]	Represents severance and other non-recurring restructuring charges related to the consolidation of certain of our facilities.

Note 8 - Balance Sheet Detail_2

Note 8 - Balance Sheet Details (Details Textual) $ in Thousands	Dec. 31, 2018USD ($)
Capital Leases, Balance Sheet, Assets by Major Class, Net, Total	$ 20,158

Note 8 - Balance Sheet Detail_3

Note 8 - Balance Sheet Details - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Raw material	$ 323,864	$ 348,980
Work-in-process	8,815	6,971
Finished goods	184,553	188,799
Total	$ 517,232	$ 544,750

Note 8 - Balance Sheet Detail_4

Note 8 - Balance Sheet Details - Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Property and equipment, gross	$ 456,201	$ 424,448
Accumulated depreciation	(152,913)	(145,519)
Total	303,288	278,929
Land and Land Improvements [Member]
Property and equipment, gross	17,753	15,975
Building and Building Improvements [Member]
Property and equipment, gross	174,226	163,161
Machinery and Equipment [Member]
Property and equipment, gross	114,359	103,726
Dies and Tools [Member]
Property and equipment, gross	20,947	28,198
Vehicles [Member]
Property and equipment, gross	3,344	2,070
Office Equipment [Member]
Property and equipment, gross	93,357	82,638
Leasehold Improvements [Member]
Property and equipment, gross	4,076	2,137
Construction in Progress [Member]
Property and equipment, gross	$ 28,139	$ 26,543

Note 9 - Leases (Details Textua

Note 9 - Leases (Details Textual) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2019	Jan. 01, 2019
Operating Lease, Right-of-Use Asset	[1]	$ 37,270
Operating Lease, Liability, Total		$ 38,212
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset			$ 42,024
Operating Lease, Liability, Total			42,056
Cumulative Effect of New Accounting Principle in Period of Adoption			$ 0
Maximum [Member]
Lessee, Operating Lease and Finance Lease, Remaining Term of Contract		20 years
Lessee, Operating Lease, Renewal Term		10 years
[1]	Recorded in the operating lease and other assets line

Note 9 - Leases - Leases Cost (

Note 9 - Leases - Leases Cost (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Operating lease cost	$ 2,312	$ 7,263
Amortization of ROU assets	643	1,873
Interest on lease liabilities	554	1,696
Total lease cost	$ 3,509	$ 10,832

Note 9 - Leases - Supplement Ba

Note 9 - Leases - Supplement Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands		Sep. 30, 2019		Dec. 31, 2018
Operating lease ROU assets (1)	[1]	$ 37,270
Operating lease liabilities - current (2)	[2]	7,519
Operating lease liabilities - noncurrent (3)	[3]	30,693
Total operating lease liabilities		38,212
Finance lease ROU assets, gross		29,353
Accumulated depreciation - finance lease ROU assets		(3,326)
Finance lease ROU assets, net (4)	[4]	26,027
Finance lease liabilities - current (5)		1,813	[5]	$ 902
Finance lease liabilities - noncurrent (6)	[6]	24,158
Total finance lease liabilities		$ 25,971		$ 20,171
[1]	Recorded in the operating lease and other assets line
[2]	Recorded in the other accrued liabilities line
[3]	Recorded in the operating lease and other long-term liabilities line
[4]	Recorded in the property and equipment, net line
[5]	Recorded in the current portion of long-term borrowings and finance lease obligations line
[6]	Recorded in the long-term borrowings and finance lease obligations line

Note 9 - Leases - Supplement Ca

Note 9 - Leases - Supplement Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Operating cash flows from operating leases	$ 2,565	$ 7,951
Operating cash flows from finance leases	471	1,393
Financing cash flows from finance leases	905	2,261
Operating leases	989	3,782
Finance leases	$ 194	$ 8,165

Note 9 - Leases - Weighted Aver

Note 9 - Leases - Weighted Average Remaining Lease Term and Discount Rate Information (Details)	Sep. 30, 2019
Operating Leases (Year)	7 years
Finance Leases (Year)	14 years 2 months 26 days
Operating Leases	5.51%
Finance Leases	7.87%

Note 9 - Leases - Maturities of

Note 9 - Leases - Maturities of Lease liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Remainder of 2019, finance leases	$ 934
Remainder of 2019, operating leases	2,481
2020, finance leases	3,519
2020, operating leases	8,934
2021, finance leases	3,158
2021, operating leases	6,898
2022, finance leases	3,388
2022, operating leases	5,368
2023, finance leases	2,655
2023, operating leases	4,581
After 2023, finance leases	32,016
After 2023, operating leases	18,338
Total minimum lease payments, finance leases	45,670
Total minimum lease payments, operating leases	46,600
Interest component	(19,699)
Interest component	(8,388)
Present value of minimum lease payments, finance leases	25,971	$ 20,171
Operating Lease, Liability, Total	$ 38,212

Note 9 - Leases - Minimum Renta

Note 9 - Leases - Minimum Rental Payments (Details) $ in Thousands	Dec. 31, 2018USD ($)
2019, capital leases	$ 2,166
2019, operating leases	8,914
2020, capital leases	2,477
2020, operating leases	7,575
2021, capital leases	2,053
2021, operating leases	6,379
2022, capital leases	1,995
2022, operating leases	4,955
2023, capital leases	1,889
2023, operating leases	4,482
After 2023, capital leases	18,108
After 2023, operating leases	18,614
Total minimum lease payments	28,688
Total minimum lease payments, operating leases	50,919
Interest component	(8,517)
Present value of minimum lease payments	$ 20,171

Note 10 - Product Warranty Ob_3

Note 10 - Product Warranty Obligations 1 (Details Textual)	9 Months Ended
	Sep. 30, 2019
Minimum [Member]
Extended Warranty Term	5 years
Maximum [Member]
Extended Warranty Term	10 years

Note 10 - Product Warranty Ob_4

Note 10 - Product Warranty Obligations 2 (Details Textual)	Sep. 30, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year

Note 10 - Product Warranty Ob_5

Note 10 - Product Warranty Obligations - Reconciliation of Product Warranty Liability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Balance at beginning of period	$ 45,324	$ 38,660	$ 41,785	$ 35,422
Product warranty reserve assumed in acquisition	0	0	407	0
Payments	(7,576)	(5,205)	(18,867)	(15,097)
Provision for warranty issued	8,518	8,074	23,656	19,552
Changes in estimates for pre-existing warranties	230	(974)	(485)	678
Balance at end of period	46,496	40,555	46,496	40,555
Balance at beginning of period	74,517	63,007	68,340	57,854
Deferred revenue contracts issued	5,918	4,787	18,832	15,029
Amortization of deferred revenue contracts	(3,573)	(2,873)	(10,310)	(7,962)
Balance at end of period	$ 76,862	$ 64,921	$ 76,862	$ 64,921

Note 10 - Product Warranty Ob_6

Note 10 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties (Details) $ in Thousands	Sep. 30, 2019USD ($)
Revenue performance obligation, expected timing	$ 76,862

Note 10 - Product Warranty Ob_7

Note 10 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties 2 (Details) $ in Thousands	Sep. 30, 2019USD ($)
Revenue performance obligation, expected timing	$ 76,862
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-10-01
Revenue performance obligation, expected timing	3,704
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue performance obligation, expected timing	15,250
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue performance obligation, expected timing	15,678
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue performance obligation, expected timing	13,831
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue performance obligation, expected timing	10,535
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue performance obligation, expected timing	$ 17,864

Note 10 - Product Warranty Ob_8

Note 10 - Product Warranty Obligations - Deferred Product Obligations (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Current portion - other accrued liabilities	$ 27,109		$ 25,396
Long-term portion - other long-term liabilities	19,387		16,389
Total	46,496	$ 45,324	41,785	$ 40,555	$ 38,660	$ 35,422
Current portion - other accrued liabilities	15,924		13,646
Long-term portion - other long-term liabilities	60,938		54,694
Total	$ 76,862	$ 74,517	$ 68,340	$ 64,921	$ 63,007	$ 57,854

Note 11 - Contract Balances (De

Note 11 - Contract Balances (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Contract with Customer, Liability, Current	$ 7,814	$ 14,174
Contract with Customer, Liability, Revenue Recognized	$ 9,166

Note 12 - Credit Agreements (De

Note 12 - Credit Agreements (Details Textual) $ in Thousands	May 31, 2015	May 31, 2013USD ($)	Jun. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Short-term Debt, Total				$ 66,985	$ 45,583
ABL Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 250,000
Long-term Line of Credit, Total				28,479
Line of Credit Facility, Remaining Borrowing Capacity				$ 271,171
Amended ABL Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 300,000
Base Rate [Member] | ABL Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%		0.375%
Adjusted LIBOR Rate [Member] | ABL Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate	2.00%		1.375%
Term Loan [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 1,200,000
Uncommitted Incremental Term Loan Facility		$ 300,000
Secured Leverage Ratio				1.61
Term Loan [Member] | Maximum [Member]
Threshold for Secured Leverage Ratio Excess Cash Flow Payment Requirement				3.75
Term Loan [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		1.75%	0.75%
Term Loan [Member] | Adjusted LIBOR Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		2.75%	1.75%
Term Loan [Member] | LIBOR Floor Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		0.75%

Note 12 - Credit Agreements - S

Note 12 - Credit Agreements - Short-term Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Short-term borrowings	$ 66,985	$ 45,583
ABL Revolving Credit Facility [Member]
Short-term borrowings	28,479	18,459
Other Lines of Credit [Member]
Short-term borrowings	$ 38,506	$ 27,124

Note 12 - Credit Agreements - L

Note 12 - Credit Agreements - Long-term Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2019		Dec. 31, 2018
Term loan	$ 879,000		$ 879,000
Original issue discount and deferred financing costs	(18,843)		(22,440)
Total finance lease liabilities	25,971		20,171
Other	741		1,642
Total	886,869		878,373
Less: current portion of debt	741		1,075
Less: current portion of finance lease obligation	1,813	[1]	902
Total	$ 884,315		$ 876,396
[1]	Recorded in the current portion of long-term borrowings and finance lease obligations line

Note 13 - Stock Repurchase Pr_2

Note 13 - Stock Repurchase Program (Details Textual) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended		50 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Oct. 31, 2016	Aug. 31, 2015
Stock Repurchase Program, Authorized Amount			$ 250,000		$ 250,000	$ 200,000
Payments for Repurchase of Common Stock		$ 0	$ 25,656	$ 305,547
Treasury Stock [Member]
Shares Acquired Under Stock Repurchases Program, Shares	0	0	560,000	8,676,706

Note 14 - Earnings Per Share (D

Note 14 - Earnings Per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	38,900	0	48,200

Note 14 - Earnings Per Share -

Note 14 - Earnings Per Share - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net income attributable to Generac Holdings Inc.		$ 75,574	$ 75,776	$ 182,393	$ 162,682
Redeemable noncontrolling interest redemption value adjustment		(1,485)	(6,912)	191	(16,882)
Net income attributable to common shareholders		$ 74,089	$ 68,864	$ 182,584	$ 145,800
Weighted average shares, basic (in shares)		61,973,447	61,579,564	61,878,500	61,659,817
Dilutive effect of stock compensation awards (in shares)	[1]	797,145	640,734	640,705	606,323
Diluted shares (in shares)		62,770,592	62,220,298	62,519,205	62,266,140
Basic (in dollars per share)		$ 1.20	$ 1.12	$ 2.95	$ 2.36
Diluted (in dollars per share)		$ 1.18	$ 1.11	$ 2.92	$ 2.34
[1]	Excludes approximately 38,900 and 48,200 stock options for the three and nine months ended September 30, 2018, respectively, as the impact of such awards was anti-dilutive. There were no awards with an anti-dilutive impact for the three and nine months ended September 30, 2019.

Note 15 - Income Taxes (Details

Note 15 - Income Taxes (Details Textual)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Effective Income Tax Rate Reconciliation, Percent, Total	22.80%	23.30%

Note 16 - Benefit Plans (Detail

Note 16 - Benefit Plans (Details Textual) $ in Thousands	Sep. 30, 2019USD ($)
Parent [Member]
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax, Total	$ (10,541)

Note 17 - Commitments and Con_2

Note 17 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Amount Financed by Dealers	$ 52,217	$ 47,200