Generac (GNRC) 10-Q 4 May 21 2021 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Apr. 29, 2021
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	Q1
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
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		62,954,539

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 744,814	$ 655,128
Accounts receivable, less allowance for credit losses	428,702	374,906
Inventories	644,576	603,317
Prepaid expenses and other assets	39,515	36,382
Total current assets	1,857,607	1,669,733
Property and equipment, net	345,563	343,936
Customer lists, net	46,476	49,205
Patents and technology, net	80,250	86,727
Other intangible assets, net	9,182	9,932
Tradenames, net	145,074	146,159
Goodwill	849,294	855,228
Deferred income taxes	1,360	1,497
Operating lease and other assets	87,332	73,006
Total assets	3,422,138	3,235,423
Current liabilities:
Short-term borrowings	26,534	39,282
Accounts payable	387,933	330,247
Accrued wages and employee benefits	46,736	63,036
Other accrued liabilities	245,009	204,812
Current portion of long-term borrowings and finance lease obligations	4,053	4,147
Total current liabilities	710,265	641,524
Long-term borrowings and finance lease obligations	841,516	841,764
Deferred income taxes	122,196	115,769
Operating lease and other long-term liabilities	160,338	179,955
Total liabilities	1,834,315	1,779,012
Redeemable noncontrolling interests	63,254	66,207
Stockholders’ equity:
Common stock, par value $0.01, 500,000,000 shares authorized, 72,205,746 and 72,024,329 shares issued at March 31, 2021 and December 31, 2020, respectively	723	721
Additional paid-in capital	534,303	525,541
Treasury stock, at cost	(358,362)	(332,164)
Excess purchase price over predecessor basis	(202,116)	(202,116)
Retained earnings	1,581,681	1,432,565
Accumulated other comprehensive loss	(31,499)	(34,254)
Stockholders’ equity attributable to Generac Holdings Inc.	1,524,730	1,390,293
Noncontrolling interests	(161)	(89)
Total stockholders' equity	1,524,569	1,390,204
Total liabilities and stockholders’ equity	$ 3,422,138	$ 3,235,423

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
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)	72,205,746	72,024,329

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net sales	$ 807,434	$ 475,915
Costs of goods sold	485,620	303,595
Gross profit	321,814	172,320
Operating expenses:
Selling and service	68,424	55,139
Research and development	22,388	18,649
General and administrative	32,899	27,889
Amortization of intangibles	8,979	7,781
Total operating expenses	132,690	109,458
Income from operations	189,124	62,862
Other (expense) income:
Interest expense	(7,723)	(9,053)
Investment income	603	960
Other, net	3,309	(1,914)
Total other expense, net	(3,811)	(10,007)
Income before provision for income taxes	185,313	52,855
Provision for income taxes	35,368	9,444
Net income	149,945	43,411
Net income (loss) attributable to noncontrolling interests	952	(1,049)
Net income attributable to Generac Holdings Inc.	$ 148,993	$ 44,460
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share)	$ 2.39	$ 0.69
Weighted average common shares outstanding - basic: (in shares)	62,478,734	62,126,481
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share)	$ 2.33	$ 0.68
Weighted average common shares outstanding - diluted: (in shares)	64,099,073	63,283,737
Comprehensive income attributable to Generac Holdings Inc.	$ 153,816	$ (3,098)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Treasury Stock [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Excess Purchase Price over Predecessor Basis [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]AOCI Attributable to Parent [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Parent [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Noncontrolling Interest [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	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, 2019										71,667,726		(9,103,013)
Balance at Dec. 31, 2019	$ 0	$ 0	$ 0	$ 0	$ (1,147)	$ 0	$ (1,147)	$ 0	$ (1,147)	$ 717	$ 498,866	$ (324,551)	$ (202,116)	$ 1,084,383	$ (24,917)	$ 1,032,382	$ 469	$ 1,032,851
Unrealized gain (loss) on interest rate swaps, net of tax										0	0	0	0	0	(15,813)	(15,813)	0	(15,813)
Foreign currency translation adjustment										$ 0	0	$ 0	0	0	(33,214)	(33,214)	(4)	(33,218)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)										176,949		0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price										$ 2	755	$ 0	0	0	0	757	0	757
Net share settlement of restricted stock awards (in shares)										0		(66,881)
Net share settlement of restricted stock awards										$ 0	0	$ (6,835)	0	0	0	(6,835)	0	(6,835)
Share-based compensation										0	4,574	0	0	0	0	4,574	0	4,574
Redemption value adjustment										0	0	0	0	(1,522)	0	(1,522)	0	(1,522)
Net income attributable to Generac Holdings Inc.										$ 0	0	$ 0	0	44,460	0	44,460		44,460
Net income																	(420)
Net income																		44,040
Balance (in shares) at Mar. 31, 2020										71,844,675		(9,169,894)
Balance at Mar. 31, 2020										$ 719	504,195	$ (331,386)	(202,116)	1,126,174	(73,944)	1,023,642	45	1,023,687
Balance (in shares) at Dec. 31, 2020										72,024,329		(9,173,731)
Balance at Dec. 31, 2020										$ 721	525,541	$ (332,164)	(202,116)	1,432,565	(34,254)	1,390,293	(89)	1,390,204
Unrealized gain (loss) on interest rate swaps, net of tax										0	0	0	0	0	14,995	14,995	0	14,995
Foreign currency translation adjustment										$ 0	0	$ 0	0	0	(12,240)	(12,240)	(3)	(12,243)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)										181,417		0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price										$ 2	3,314	$ 0	0	0	0	3,316	0	3,316
Net share settlement of restricted stock awards (in shares)										0		(78,087)
Net share settlement of restricted stock awards										$ 0	0	$ (26,198)	0	0	0	(26,198)	0	(26,198)
Share-based compensation										0	5,448	0	0	0	0	5,448	0	5,448
Redemption value adjustment										0	0	0	0	123	0	123	0	123
Net income attributable to Generac Holdings Inc.										$ 0	0	$ 0	0	148,993	0	148,993		148,993
Net income																	(69)
Net income																		148,924
Balance (in shares) at Mar. 31, 2021										72,205,746		(9,251,818)
Balance at Mar. 31, 2021										$ 723	$ 534,303	$ (358,362)	$ (202,116)	$ 1,581,681	$ (31,499)	$ 1,524,730	$ (161)	$ 1,524,569

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
AOCI Attributable to Parent [Member]
Unrealized gain (loss) on interest rate swaps, tax	$ 5,065	$ (5,341)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Operating activities
Net income		$ 149,945	$ 43,411
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		9,258	8,335
Amortization of intangible assets		8,979	7,781
Amortization of original issue discount and deferred financing costs		646	642
Deferred income taxes		1,702	1,571
Share-based compensation expense	[1]	5,448	4,574
Loss (gain) on disposal of assets		(3,979)	0
Other non-cash charges		281	416
Net changes in operating assets and liabilities, net of acquisitions:
Accounts receivable		(56,710)	(5,687)
Inventories		(45,833)	(48,145)
Other assets		(1,773)	(6,017)
Accounts payable		56,769	12,817
Accrued wages and employee benefits		(15,812)	(18,125)
Other accrued liabilities		63,014	12,976
Excess tax benefits from equity awards		(19,392)	(3,203)
Net cash provided by operating activities		152,543	11,346
Investing activities
Proceeds from sale of property and equipment		5	0
Proceeds from sale of investment		4,902	0
Proceeds from beneficial interests in securitization transactions		712	618
Expenditures for property and equipment		(27,469)	(12,894)
Net cash used in investing activities		(21,850)	(12,276)
Financing activities
Proceeds from short-term borrowings		32,215	20,694
Repayments of short-term borrowings		(43,979)	(25,526)
Repayments of long-term borrowings and finance lease obligations		(1,604)	(1,176)
Payment of contingent acquisition consideration		(3,750)	(4,000)
Taxes paid related to equity awards		(35,901)	(7,666)
Proceeds from exercise of stock options		13,011	1,590
Net cash used in financing activities		(40,008)	(16,084)
Effect of exchange rate changes on cash and cash equivalents		(999)	1,587
Net increase (decrease) in cash and cash equivalents		89,686	(15,427)
Cash and cash equivalents at beginning of period		655,128	322,883
Cash and cash equivalents at end of period		$ 744,814	$ 307,456
[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, 2021
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, 2020 ● In July 2020, ● In September 2020, 2009 zero ● In October 2020, 2003 one 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 (GAAP). All intercompany amounts and transactions have been eliminated in consolidation. The condensed consolidated balance sheet as of March 31, 2021 three March 31, 2021 2020 three March 31, 2021 2020 three March 31, 2021 2020 not not The preparation of the condensed consolidated financial statements in conformity with 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 disclosures normally included in consolidated financial statements prepared in accordance with 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, 2020 New Accounting Pronouncements Changes to GAAP are established by the Financial Accounting Standards Board (FASB) in the form of accounting standard updates (“ASUs”) to the FASB Accounting Standards Codification (ASC). ASUs issued were assessed and have already been adopted in a prior period or determined to be either not not

Note 2 - Acquisitions

Note 2 - Acquisitions	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Business Combination Disclosure [Text Block]	2 . Acquisitions Fiscal 2021 The Company made no three March 31, 2021. Fiscal 2020 Acquisition of Enbala On October 7, 2020, The Company recorded its preliminary purchase price allocation during the fourth 2020 March 31, 2021. not not Other Acquisitions In July 2020, In September 2020, The combined purchase price for these acquisitions was $22,815 and was funded solely through cash on hand. The accompanying condensed consolidated financial statements include the results of the acquired businesses since the dates of acquisition through March 31, 2021. not not Summary Purchase Price Allocations The fair values assigned to certain assets acquired and liabilities assumed, as of the acquisition dates, are as follows for the 2020 2020 Accounts receivable $ 5,102 Inventories 3,575 Prepaid expenses and other assets 858 Property and equipment 635 Intangible assets 26,257 Goodwill 42,720 Other assets 1,124 Total assets acquired 80,271 Accounts payable 4,088 Accrued wages and employee benefits 700 Other accrued liabilities 2,151 Deferred income taxes 4,134 Other long-term liabilities 4,401 Net assets acquired $ 64,797 The fair values above are preliminary for up to one not twelve

Note 3 - Redeemable Noncontroll

Note 3 - Redeemable Noncontrolling Interest	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Redeemable Noncontrolling Interest [Text Block]	3. On March 1, 2016, February 2019, five five no April 1, 2021. On February 1, 2019, five may five For both transactions, 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 13, Three Months Ended March 31, 2021 2020 Balance at beginning of period $ 66,207 $ 61,227 Net income 1,021 (629 ) Foreign currency translation (3,851 ) (2,216 ) Redemption value adjustment (123 ) 1,522 Balance at end of period $ 63,254 $ 59,904

Note 4 - Derivative Instruments

Note 4 - Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2021
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 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 In 2017, twenty twelve March 31, 2021 December 2019, March 2020, three fifteen March 31, 2021 three March 31, 2021 2020 Fair Value The following table presents the fair value of all of the Company’s derivatives: March 31, 2021 December 31, 2020 Commodity contracts $ 797 $ 1,386 Foreign currency contracts (148 ) (154 ) Interest rate swaps (9,476 ) (29,536 ) The fair value of the commodity contracts is included in prepaid expenses and other current assets, and the fair values of the foreign currency contracts and interest rate swaps are included in other accrued liabilities and other long-term liabilities, respectively, in the condensed consolidated balance sheets as of March 31, 2021 December 31, 2020. March 31, 2021 December 31, 2020

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	5. 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 $815,835, was approximately $832,075 (Level 2 March 31, 2021 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	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 2020 Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – January, 1 2021 $ (11,674 ) $ (22,580 ) $ (34,254 ) Other comprehensive income (loss) before reclassifications (12,240 ) 14,995 (1) 2,755 Amounts reclassified from AOCL - - - Net current-period other comprehensive income (loss) (12,240 ) 14,995 2,755 Ending Balance – March 31, 2021 $ (23,914 ) $ (7,585 ) $ (31,499 ) Foreign Currency Translation Adjustments Unrealized Loss on Cash Flow Hedges Total Beginning Balance – January, 1 2020 $ (16,622 ) $ (8,295 ) $ (24,917 ) Other comprehensive income (loss) before reclassifications (33,214 ) (2) (15,813 ) (3) (49,027 ) Amounts reclassified from AOCL - - - Net current-period other comprehensive income (loss) (33,214 ) (15,813 ) (49,027 ) Ending Balance – March 31, 2020 $ (49,836 ) $ (24,108 ) $ (73,944 ) ( 1 Represents unrealized gains of $20,060 on the interest rate swaps, net of tax effect of $(5,065) for the three March 31, 2021 ( 2 Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the three March 31, 2020, ( 3 Represents unrealized losses of $(21,154) on the interest rate swaps, net of tax effect of $5,341 for the three March 31, 2020

Note 7 - Segment Reporting

Note 7 - Segment Reporting	3 Months Ended
	Mar. 31, 2021
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, energy storage systems, and other power products geared for varying end customer uses. Residential products and 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 March 31, 2021 Product Classes Domestic International Total Residential products $ 522,215 $ 19,934 $ 542,149 Commercial & industrial products 117,879 84,512 202,391 Other 52,644 10,250 62,894 Total net sales $ 692,738 $ 114,696 $ 807,434 Three Months Ended March 31, 2020 Product Classes Domestic International Total Residential products $ 243,830 $ 13,789 $ 257,619 Commercial & industrial products 95,827 76,239 172,066 Other 36,373 9,857 46,230 Total net sales $ 376,030 $ 99,885 $ 475,915 Residential products consist primarily of automatic home standby generators ranging in output from 7.5kW 150kW, C&I products consist of larger output stationary generators used in C&I applications with power outputs ranging from 10kW 3,250kW. Other consists primarily of aftermarket service parts and product accessories sold to our dealers, the amortization of extended warranty deferred revenue, remote monitoring and grid services subscription revenue, as well as installation and maintenance service revenue. The aftermarket service parts and product accessories are generally transferred to the customer at a point in time, while the extended warranty revenue and subscription revenue are recognized over the life of the contract. Other service revenue is recognized when the service is performed. 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 March 31, 2021 2020 Domestic $ 207,073 $ 82,775 International 7,121 3,250 Total adjusted EBITDA $ 214,194 $ 86,025 Interest expense (7,723 ) (9,053 ) Depreciation and amortization (18,237 ) (16,116 ) Non-cash write-down and other adjustments (1) 3,868 (2,284 ) Non-cash share-based compensation expense (2) (5,448 ) (4,574 ) Transaction costs and credit facility fees (3) (914 ) (234 ) Business optimization and other charges (4) (159 ) (512 ) Other (268 ) (397 ) Income before provision for income taxes $ 185,313 $ 52,855 ( 1 Includes gains/losses on disposals of assets and investments, unrealized mark-to-market adjustments on commodity contracts, and certain foreign currency 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 severance and other non-recurring restructuring charges related to the consolidation of certain of our facilities. The Company’s sales in the U.S. represented approximately 83% and 77% of total sales for the three March 31, 2021 2020 March 31, 2021 December 31, 2020

Note 8 - Balance Sheet Details

Note 8 - Balance Sheet Details	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	8 . Balance Sheet Details Inventories consist of the following: March 31, December 31, 2021 2020 Raw material $ 407,750 $ 375,516 Work-in-process 4,086 6,833 Finished goods 232,740 220,968 Total $ 644,576 $ 603,317 Property and equipment consists of the following: March 31, December 31, 2021 2020 Land and improvements $ 18,062 $ 18,363 Buildings and improvements 201,635 198,908 Machinery and equipment 151,850 153,696 Dies and tools 24,802 24,190 Vehicles 6,371 6,037 Office equipment and systems 110,780 107,923 Leasehold improvements 4,652 5,276 Construction in progress 35,010 30,227 Gross property and equipment 553,162 544,620 Accumulated depreciation (207,599 ) (200,684 ) Total $ 345,563 $ 343,936 Total property and equipment included finance leases of $26,696 and $27,269 at March 31, 2021 December 31, 2020

Note 9 - Product Warranty Oblig

Note 9 - Product Warranty Obligations	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	9. Obligations The Company records a liability for standard product warranty obligations accounted for as assurance warranties at the time of sale of the product 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 March 31, 2021 2020 Balance at beginning of period $ 59,218 $ 49,316 Payments (9,779 ) (7,588 ) Provision for warranty issued 14,830 8,286 Changes in estimates for pre-existing warranties 1,028 (991 ) Balance at end of period $ 65,297 $ 49,023 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, 2021 2020 Balance at beginning of period $ 89,788 $ 78,738 Deferred revenue contracts issued 8,031 5,939 Amortization of deferred revenue contracts (4,637 ) (3,797 ) Balance at end of period $ 93,182 $ 80,880 The timing of recognition of the Company’s deferred revenue balance related to extended warranties at March 31, 2021 Remainder of 2021 $ 13,707 2022 19,781 2023 18,092 2024 13,373 2025 9,570 After 2025 18,659 Total $ 93,182 Standard product warranty obligations and extended warranty related deferred revenues are included in the condensed consolidated balance sheets as follows: March 31, December 31, 2021 2020 Product warranty liability Current portion - other accrued liabilities $ 40,632 $ 37,417 Long-term portion - other long-term liabilities 24,665 21,801 Total $ 65,297 $ 59,218 Deferred revenue related to extended warranties Current portion - other accrued liabilities $ 22,251 $ 18,857 Long-term portion - other long-term liabilities 70,931 70,931 Total $ 93,182 $ 89,788

Note 10 - Contract Balances

Note 10 - Contract Balances	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	10. 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 $30,659 and $25,710 at March 31, 2021 December 31, 2020 three March 31, 2021 December 31, 2020 one

Note 11 - Credit Agreements

Note 11 - Credit Agreements	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	11 . Credit Agreements Short-term borrowings are included in the condensed consolidated balance sheets as follows: March 31, December 31, 2021 2020 ABL Facility $ - $ - Other lines of credit 26,534 39,282 Total $ 26,534 $ 39,282 Long-term borrowings are included in the condensed consolidated balance sheets as follows: March 31, December 31, 2021 2020 Term Loan $ 830,000 $ 830,000 Original issue discount and deferred financing costs (14,803 ) (15,450 ) Finance lease obligation 27,004 27,371 Other 3,368 3,990 Total 845,569 845,911 Less: current portion of debt 1,756 1,836 Less: current portion of finance lease obligation 2,297 2,311 Total $ 841,516 $ 841,764 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 currently December 13, 2026. first second The Term Loan does not 1.00 March 31, 2021 1.00 no The Company’s credit agreements also provide 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 As of March 31, 2021 As of March 31, 2021 December 31, 2020

Note 12 - Stock Repurchase Prog

Note 12 - Stock Repurchase Program	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Treasury Stock [Text Block]	12 . Stock Repurchase Program In September 2018, October 2020. September 2020, October 27, 2020, may may may may no three March 31, 2021 2020. August 2015,

Note 13 - Earnings Per Share

Note 13 - Earnings Per Share	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	13. Share Basic earnings per share is calculated by dividing net income attributable to the common shareholders 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 March 31, 2021 2020 Numerator Net income attributable to Generac Holdings Inc. $ 148,993 $ 44,460 Redeemable noncontrolling interest redemption value adjustment 123 (1,522 ) Net income attributable to common shareholders $ 149,116 $ 42,938 Denominator Weighted average shares, basic 62,478,734 62,126,481 Dilutive effect of stock compensation awards (1) 1,620,339 1,157,256 Diluted shares 64,099,073 63,283,737 Net income attributable to common shareholders per share Basic $ 2.39 $ 0.69 Diluted $ 2.33 $ 0.68 ( 1 three March 31, 2021 2020

Note 14 - Income Taxes

Note 14 - Income Taxes	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	14 . Income Taxes The effective income tax rates for the three March 31, 2021 2020

Note 15 - Commitments and Conti

Note 15 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	15 . 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, 2021 December 31, 2020 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, 2021
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements Changes to GAAP are established by the Financial Accounting Standards Board (FASB) in the form of accounting standard updates (“ASUs”) to the FASB Accounting Standards Codification (ASC). ASUs issued were assessed and have already been adopted in a prior period or determined to be either not not

Note 2 - Acquisitions (Tables)

Note 2 - Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	2020 Accounts receivable $ 5,102 Inventories 3,575 Prepaid expenses and other assets 858 Property and equipment 635 Intangible assets 26,257 Goodwill 42,720 Other assets 1,124 Total assets acquired 80,271 Accounts payable 4,088 Accrued wages and employee benefits 700 Other accrued liabilities 2,151 Deferred income taxes 4,134 Other long-term liabilities 4,401 Net assets acquired $ 64,797

Note 3 - Redeemable Noncontro_2

Note 3 - Redeemable Noncontrolling Interest (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Redeemable Noncontrolling Interest [Table Text Block]	Three Months Ended March 31, 2021 2020 Balance at beginning of period $ 66,207 $ 61,227 Net income 1,021 (629 ) Foreign currency translation (3,851 ) (2,216 ) Redemption value adjustment (123 ) 1,522 Balance at end of period $ 63,254 $ 59,904

Note 4 - Derivative Instrumen_2

Note 4 - Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule Of Derivative Assets (Liabilities) at Fair Value [Table Text Block]	March 31, 2021 December 31, 2020 Commodity contracts $ 797 $ 1,386 Foreign currency contracts (148 ) (154 ) Interest rate swaps (9,476 ) (29,536 )

Note 6 - Accumulated Other Co_2

Note 6 - Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – January, 1 2021 $ (11,674 ) $ (22,580 ) $ (34,254 ) Other comprehensive income (loss) before reclassifications (12,240 ) 14,995 (1) 2,755 Amounts reclassified from AOCL - - - Net current-period other comprehensive income (loss) (12,240 ) 14,995 2,755 Ending Balance – March 31, 2021 $ (23,914 ) $ (7,585 ) $ (31,499 ) Foreign Currency Translation Adjustments Unrealized Loss on Cash Flow Hedges Total Beginning Balance – January, 1 2020 $ (16,622 ) $ (8,295 ) $ (24,917 ) Other comprehensive income (loss) before reclassifications (33,214 ) (2) (15,813 ) (3) (49,027 ) Amounts reclassified from AOCL - - - Net current-period other comprehensive income (loss) (33,214 ) (15,813 ) (49,027 ) Ending Balance – March 31, 2020 $ (49,836 ) $ (24,108 ) $ (73,944 )

Note 7 - Segment Reporting (Tab

Note 7 - Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Disaggregation of Revenue [Table Text Block]	Net Sales by Segment Three Months Ended March 31, 2021 Product Classes Domestic International Total Residential products $ 522,215 $ 19,934 $ 542,149 Commercial & industrial products 117,879 84,512 202,391 Other 52,644 10,250 62,894 Total net sales $ 692,738 $ 114,696 $ 807,434 Three Months Ended March 31, 2020 Product Classes Domestic International Total Residential products $ 243,830 $ 13,789 $ 257,619 Commercial & industrial products 95,827 76,239 172,066 Other 36,373 9,857 46,230 Total net sales $ 376,030 $ 99,885 $ 475,915
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Adjusted EBITDA Three Months Ended March 31, 2021 2020 Domestic $ 207,073 $ 82,775 International 7,121 3,250 Total adjusted EBITDA $ 214,194 $ 86,025 Interest expense (7,723 ) (9,053 ) Depreciation and amortization (18,237 ) (16,116 ) Non-cash write-down and other adjustments (1) 3,868 (2,284 ) Non-cash share-based compensation expense (2) (5,448 ) (4,574 ) Transaction costs and credit facility fees (3) (914 ) (234 ) Business optimization and other charges (4) (159 ) (512 ) Other (268 ) (397 ) Income before provision for income taxes $ 185,313 $ 52,855

Note 8 - Balance Sheet Details

Note 8 - Balance Sheet Details (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, December 31, 2021 2020 Raw material $ 407,750 $ 375,516 Work-in-process 4,086 6,833 Finished goods 232,740 220,968 Total $ 644,576 $ 603,317
Property, Plant and Equipment [Table Text Block]	March 31, December 31, 2021 2020 Land and improvements $ 18,062 $ 18,363 Buildings and improvements 201,635 198,908 Machinery and equipment 151,850 153,696 Dies and tools 24,802 24,190 Vehicles 6,371 6,037 Office equipment and systems 110,780 107,923 Leasehold improvements 4,652 5,276 Construction in progress 35,010 30,227 Gross property and equipment 553,162 544,620 Accumulated depreciation (207,599 ) (200,684 ) Total $ 345,563 $ 343,936

Note 9 - Product Warranty Obl_2

Note 9 - Product Warranty Obligations (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended March 31, 2021 2020 Balance at beginning of period $ 59,218 $ 49,316 Payments (9,779 ) (7,588 ) Provision for warranty issued 14,830 8,286 Changes in estimates for pre-existing warranties 1,028 (991 ) Balance at end of period $ 65,297 $ 49,023 Three Months Ended March 31, 2021 2020 Balance at beginning of period $ 89,788 $ 78,738 Deferred revenue contracts issued 8,031 5,939 Amortization of deferred revenue contracts (4,637 ) (3,797 ) Balance at end of period $ 93,182 $ 80,880
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]	Remainder of 2021 $ 13,707 2022 19,781 2023 18,092 2024 13,373 2025 9,570 After 2025 18,659 Total $ 93,182
Product Warranty Obligations Included In Consolidated Balance Sheet [Table Text Block]	March 31, December 31, 2021 2020 Product warranty liability Current portion - other accrued liabilities $ 40,632 $ 37,417 Long-term portion - other long-term liabilities 24,665 21,801 Total $ 65,297 $ 59,218 Deferred revenue related to extended warranties Current portion - other accrued liabilities $ 22,251 $ 18,857 Long-term portion - other long-term liabilities 70,931 70,931 Total $ 93,182 $ 89,788

Note 11 - Credit Agreements (Ta

Note 11 - Credit Agreements (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Short-term Debt [Table Text Block]	March 31, December 31, 2021 2020 ABL Facility $ - $ - Other lines of credit 26,534 39,282 Total $ 26,534 $ 39,282
Schedule of Long-term Debt Instruments [Table Text Block]	March 31, December 31, 2021 2020 Term Loan $ 830,000 $ 830,000 Original issue discount and deferred financing costs (14,803 ) (15,450 ) Finance lease obligation 27,004 27,371 Other 3,368 3,990 Total 845,569 845,911 Less: current portion of debt 1,756 1,836 Less: current portion of finance lease obligation 2,297 2,311 Total $ 841,516 $ 841,764

Note 13 - Earnings Per Share (T

Note 13 - Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2021 2020 Numerator Net income attributable to Generac Holdings Inc. $ 148,993 $ 44,460 Redeemable noncontrolling interest redemption value adjustment 123 (1,522 ) Net income attributable to common shareholders $ 149,116 $ 42,938 Denominator Weighted average shares, basic 62,478,734 62,126,481 Dilutive effect of stock compensation awards (1) 1,620,339 1,157,256 Diluted shares 64,099,073 63,283,737 Net income attributable to common shareholders per share Basic $ 2.39 $ 0.69 Diluted $ 2.33 $ 0.68

Note 2 - Acquisitions (Details

Note 2 - Acquisitions (Details Textual) - USD ($) $ in Thousands	Oct. 07, 2020	Sep. 30, 2020	Mar. 31, 2021	Dec. 31, 2020
Goodwill, Ending Balance			$ 849,294	$ 855,228
Acquisition of Enbala [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total	$ 41,982
Business Acquisition, Purchase Price Allocation, Intangible Assets Including Goodwill	46,645
Goodwill, Ending Balance	$ 27,345
Other 2020 Acquisitions [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total		$ 22,815

Note 2 - Acquisitions - Prelimi

Note 2 - Acquisitions - Preliminary Price Allocation (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Goodwill	$ 849,294	$ 855,228
The 2020 Acquisitions [Member]
Accounts receivable		5,102
Inventories		3,575
Prepaid expenses and other assets		858
Property and equipment		635
Intangible assets		26,257
Goodwill		42,720
Other assets		1,124
Total assets acquired		80,271
Accounts payable		4,088
Accrued wages and employee benefits		700
Other accrued liabilities		2,151
Deferred income taxes		4,134
Other long-term liabilities		4,401
Net assets acquired		$ 64,797

Note 3 - Redeemable Noncontro_3

Note 3 - Redeemable Noncontrolling Interest (Details Textual) - USD ($) $ in Thousands	Feb. 01, 2019	Feb. 28, 2019	Mar. 01, 2016
Pramac [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners			35.00%
Captiva Energy Solutions [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	49.00%
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 (Year)		5 years
Captiva Energy Solutions [Member]
Business Acquisition, Percentage of Voting Interests Acquired	51.00%
Redeemable Noncontrolling Interest, Equity, Fair Value, Total	$ 3,165
Business Acquisition, Noncontrolling Interest, Term of Put Option (Year)	5 years
Business Acquisition, Term of Call Option (Year)	5 years

Note 3 - Redeemable Noncontro_4

Note 3 - Redeemable Noncontrolling Interest - Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Redemption value adjustment	$ 123	$ (1,522)
Redeemable Noncontrolling Interest [Member]
Balance	66,207	61,227
Net income	1,021	(629)
Foreign currency translation	(3,851)	(2,216)
Redemption value adjustment	(123)	1,522
Balance	$ 63,254	$ 59,904

Note 4 - Derivative Instrumen_3

Note 4 - Derivative Instruments and Hedging Activities (Details Textual) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2017	Dec. 31, 2020USD ($)
Derivative, Number of Instruments Held, Total	0
Derivative Assets (Liabilities), Net Fair Value of Derivative Contracts, Excluding Impact of Credit Risk	$ (9,017)			$ (28,667)
Interest Rate Swap [Member]
Number of New Contracts Entered		3	20
Derivative, Number of Instruments Outstanding	15
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	$ 14,995	$ (15,813)

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	Mar. 31, 2021	Dec. 31, 2020
Commodity Contract [Member]
Fair Value of Derivatives	$ 797	$ 1,386
Foreign Exchange Contract [Member]
Fair Value of Derivatives	(148)	(154)
Interest Rate Swap [Member]
Fair Value of Derivatives	$ (9,476)	$ (29,536)

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurements (Details Textual) $ in Thousands	Mar. 31, 2021USD ($)
Long-term Debt, Total	$ 815,835
Long-term Debt, Fair Value	$ 832,075

Note 6 - Accumulated Other Co_3

Note 6 - Accumulated Other Comprehensive Loss (Details Textual) - Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Other Comprehensive Income (Loss), before Reclassifications, before Tax	$ 20,060	$ (21,154)
Other Comprehensive Income (Loss) before Reclassifications, Tax, Total	$ (5,065)	$ 5,341

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
	Mar. 31, 2021		Mar. 31, 2020
Balance	$ 1,390,204		$ 1,032,851
Balance	1,524,569		1,023,687
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(11,674)		(16,622)
Other comprehensive income (loss) before reclassifications	(12,240)		(33,214)	[1]
Amounts reclassified from AOCL	0		0
Net current-period other comprehensive income (loss)	(12,240)		(33,214)
Balance	(23,914)		(49,836)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Balance	(22,580)		(8,295)
Other comprehensive income (loss) before reclassifications	14,995	[2]	(15,813)	[3]
Amounts reclassified from AOCL	0		0
Net current-period other comprehensive income (loss)	14,995		(15,813)
Balance	(7,585)		(24,108)
AOCI Attributable to Parent [Member]
Balance	(34,254)		(24,917)
Other comprehensive income (loss) before reclassifications	2,755		(49,027)
Amounts reclassified from AOCL	0		0
Net current-period other comprehensive income (loss)	2,755		(49,027)
Balance	$ (31,499)		$ (73,944)
[1]	Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the three months ended March 31, 2020, particularly the Mexican Peso, Euro, Brazilian Real, and Russian Ruble.
[2]	Represents unrealized gains of $20,060, net of tax effect of $(5,065) for the three months ended March 31, 2021.
[3]	Represents unrealized losses of $(21,154), net of tax effect of $5,341 for the three months ended March 31, 2020.

Note 7 - Segment Reporting (Det

Note 7 - Segment Reporting (Details Textual)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Number of Reportable Segments	2
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | UNITED STATES
Concentration Risk, Percentage	83.00%	77.00%
Geographic Concentration Risk [Member] | Net Assets, Geographic Area [Member] | UNITED STATES
Concentration Risk, Percentage	82.00%	81.00%

Note 7 - Segment Reporting - Ne

Note 7 - Segment Reporting - Net Sales by Products and Services (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net sales	$ 807,434	$ 475,915
Domestic [Member]
Net sales	692,738	376,030
International [Member]
Net sales	114,696	99,885
Residential Power Products [Member]
Net sales	542,149	257,619
Residential Power Products [Member] | Domestic [Member]
Net sales	522,215	243,830
Residential Power Products [Member] | International [Member]
Net sales	19,934	13,789
Commercial and Industrial Power Products [Member]
Net sales	202,391	172,066
Commercial and Industrial Power Products [Member] | Domestic [Member]
Net sales	117,879	95,827
Commercial and Industrial Power Products [Member] | International [Member]
Net sales	84,512	76,239
Other Products and Services [Member]
Net sales	62,894	46,230
Other Products and Services [Member] | Domestic [Member]
Net sales	52,644	36,373
Other Products and Services [Member] | International [Member]
Net sales	$ 10,250	$ 9,857

Note 7 - Segment Reporting - Se

Note 7 - Segment Reporting - Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Total adjusted EBITDA		$ 214,194	$ 86,025
Interest expense		(7,723)	(9,053)
Depreciation and amortization		(18,237)	(16,116)
Non-cash write-down and other adjustments (1)	[1]	3,868	(2,284)
Non-cash share-based compensation expense (2)	[2]	(5,448)	(4,574)
Transaction costs and credit facility fees (3)	[3]	(914)	(234)
Business optimization and other charges (4)	[4]	(159)	(512)
Other		(268)	(397)
Income before provision for income taxes		185,313	52,855
Domestic [Member]
Total adjusted EBITDA		207,073	82,775
International [Member]
Total adjusted EBITDA		$ 7,121	$ 3,250
[1]	Includes gains/losses on disposals of assets and investments, unrealized mark-to-market adjustments on commodity contracts, and certain foreign currency 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 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) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Capital Leases, Balance Sheet, Assets by Major Class, Net, Total	$ 26,696	$ 27,269

Note 8 - Balance Sheet Detail_3

Note 8 - Balance Sheet Details - Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Raw material	$ 407,750	$ 375,516
Work-in-process	4,086	6,833
Finished goods	232,740	220,968
Total	$ 644,576	$ 603,317

Note 8 - Balance Sheet Detail_4

Note 8 - Balance Sheet Details - Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Property and equipment, gross	$ 553,162	$ 544,620
Accumulated depreciation	(207,599)	(200,684)
Total	345,563	343,936
Land and Land Improvements [Member]
Property and equipment, gross	18,062	18,363
Building and Building Improvements [Member]
Property and equipment, gross	201,635	198,908
Machinery and Equipment [Member]
Property and equipment, gross	151,850	153,696
Dies and Tools [Member]
Property and equipment, gross	24,802	24,190
Vehicles [Member]
Property and equipment, gross	6,371	6,037
Office Equipment [Member]
Property and equipment, gross	110,780	107,923
Leasehold Improvements [Member]
Property and equipment, gross	4,652	5,276
Construction in Progress [Member]
Property and equipment, gross	$ 35,010	$ 30,227

Note 9 - Product Warranty Obl_3

Note 9 - Product Warranty Obligations (Details Textual)	3 Months Ended
	Mar. 31, 2021
Minimum [Member]
Extended Warranty Term (Year)	5 years
Maximum [Member]
Extended Warranty Term (Year)	10 years

Note 9 - Product Warranty Obl_4

Note 9 - Product Warranty Obligations - Reconciliation of Product Warranty Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Balance at beginning of period	$ 59,218	$ 49,316
Payments	(9,779)	(7,588)
Provision for warranty issued	14,830	8,286
Changes in estimates for pre-existing warranties	1,028	(991)
Balance at end of period	65,297	49,023
Balance at beginning of period	89,788	78,738
Deferred revenue contracts issued	8,031	5,939
Amortization of deferred revenue contracts	(4,637)	(3,797)
Balance at end of period	$ 93,182	$ 80,880

Note 9 - Product Warranty Obl_5

Note 9 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties (Details) $ in Thousands	Mar. 31, 2021USD ($)
Revenue performance obligation	$ 93,182

Note 9 - Product Warranty Obl_6

Note 9 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties 2 (Details) $ in Thousands	Mar. 31, 2021USD ($)
Revenue performance obligation	$ 93,182
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue performance obligation	13,707
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue performance obligation	19,781
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue performance obligation	18,092
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue performance obligation	13,373
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue performance obligation	9,570
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue performance obligation	$ 18,659

Note 9 - Product Warranty Obl_7

Note 9 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties (Details) (Parentheticals)	Mar. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue performance period (Year)	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue performance period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue performance period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue performance period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue performance period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue performance period (Year)	1 year

Note 9 - Product Warranty Obl_8

Note 9 - Product Warranty Obligations - Deferred Product Obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Current portion - other accrued liabilities	$ 40,632	$ 37,417
Long-term portion - other long-term liabilities	24,665	21,801
Total	65,297	59,218	$ 49,023	$ 49,316
Current portion - other accrued liabilities	22,251	18,857
Long-term portion - other long-term liabilities	70,931	70,931
Total	$ 93,182	$ 89,788	$ 80,880	$ 78,738

Note 10 - Contract Balances (De

Note 10 - Contract Balances (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2021
Contract with Customer, Liability, Current	$ 25,710	$ 30,659
Contract with Customer, Liability, Revenue Recognized	$ 16,912

Note 11 - Credit Agreements (De

Note 11 - Credit Agreements (Details Textual) - USD ($) $ in Thousands	May 31, 2013	May 31, 2015	Mar. 31, 2021	Dec. 31, 2020
Short-term Debt, Total			$ 26,534	$ 39,282
ABL Revolving Credit Facility [Member]
Line of Credit Facility, Remaining Borrowing Capacity			299,609
Amended ABL Facility [Member]
Long-term Line of Credit, Total			$ 0
Base Rate [Member] | ABL Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate		1.00%	0.125%
Adjusted LIBOR Rate [Member] | ABL Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate		2.00%	1.125%
Term Loan [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,200,000
Uncommitted Incremental Term Loan Facility	$ 300,000
Secured Leverage Ratio			0.92
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%
Term Loan [Member] | LIBOR Floor Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.75%
Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate			1.75%

Note 11 - Credit Agreements - S

Note 11 - Credit Agreements - Short-term Borrowings (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Short-term borrowings	$ 26,534	$ 39,282
ABL Revolving Credit Facility [Member]
Short-term borrowings	0	0
Other Lines of Credit [Member]
Short-term borrowings	$ 26,534	$ 39,282

Note 11 - Credit Agreements - L

Note 11 - Credit Agreements - Long-term Borrowings (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Term Loan	$ 830,000	$ 830,000
Original issue discount and deferred financing costs	(14,803)	(15,450)
Finance lease obligation	27,004	27,371
Other	3,368	3,990
Total	845,569	845,911
Less: current portion of debt	1,756	1,836
Less: current portion of finance lease obligation	2,297	2,311
Total	$ 841,516	$ 841,764

Note 12 - Stock Repurchase Pr_2

Note 12 - Stock Repurchase Program (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		68 Months Ended
	Sep. 30, 2020	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Sep. 30, 2018
Stock Repurchase Program, Authorized Amount	$ 250,000				$ 250,000
Stock Repurchase Program, Period in Force (Month)	24 months
Payments for Repurchase of Common Stock				$ 305,547
Treasury Stock Acquired, Average Cost Per Share (in dollars per share)				$ 35.21
Treasury Stock [Member]
Shares Acquired Under Stock Repurchases Program, Shares (in shares)		0	0	8,676,706

Note 13 - Earnings Per Share (D

Note 13 - Earnings Per Share (Details Textual) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0	0

Note 13 - Earnings Per Share -

Note 13 - Earnings Per Share - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Net income attributable to Generac Holdings Inc.		$ 148,993	$ 44,460
Redeemable noncontrolling interest redemption value adjustment		123	(1,522)
Net income attributable to common shareholders		$ 149,116	$ 42,938
Weighted average shares, basic (in shares)		62,478,734	62,126,481
Dilutive effect of stock compensation awards (1) (in shares)	[1]	1,620,339	1,157,256
Diluted shares (in shares)		64,099,073	63,283,737
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share)		$ 2.39	$ 0.69
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share)		$ 2.33	$ 0.68
[1]	There were no awards with an anti-dilutive impact for the three months ended March 31, 2021 and 2020.

Note 14 - Income Taxes (Details

Note 14 - Income Taxes (Details Textual)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Effective Income Tax Rate Reconciliation, Percent, Total	19.10%	17.90%

Note 15 - Commitments and Con_2

Note 15 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Amount Financed by Dealers	$ 72.9	$ 55.6