Generac (GNRC) 10-Q 3 Aug 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 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	Q2
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 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		63,120,689

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 390,086	$ 655,128
Accounts receivable, less allowance for credit losses	480,889	374,906
Inventories	772,861	603,317
Prepaid expenses and other assets	48,697	36,382
Total current assets	1,692,533	1,669,733
Property and equipment, net	392,518	343,936
Customer lists, net	158,720	49,205
Patents and technology, net	97,536	86,727
Other intangible assets, net	10,295	9,932
Tradenames, net	172,982	146,159
Goodwill	1,109,908	855,228
Deferred income taxes	2,246	1,497
Operating lease and other assets	70,188	73,006
Total assets	3,706,926	3,235,423
Current liabilities:
Short-term Borrowings	23,760	39,282
Accounts payable	526,375	330,247
Accrued wages and employee benefits	67,494	63,036
Other accrued liabilities	214,387	204,812
Current portion of long-term borrowings and finance lease obligations	4,233	4,147
Total current liabilities	836,249	641,524
Long-term borrowings and finance lease obligations	842,607	841,764
Deferred income taxes	158,522	115,769
Operating lease and other long-term liabilities	176,365	179,955
Total liabilities	2,013,743	1,779,012
Redeemable noncontrolling interests	37,245	66,207
Stockholders’ equity:
Common stock, par value $0.01, 500,000,000 shares authorized, 72,252,980 and 72,024,329 shares issued at June 30, 2021 and December 31, 2020, respectively	723	721
Additional paid-in capital	542,893	525,541
Treasury stock, at cost	(358,481)	(332,164)
Excess purchase price over predecessor basis	(202,116)	(202,116)
Retained earnings	1,710,464	1,432,565
Accumulated other comprehensive loss	(37,583)	(34,254)
Stockholders’ equity attributable to Generac Holdings Inc.	1,655,900	1,390,293
Noncontrolling interests	38	(89)
Total stockholders' equity	1,655,938	1,390,204
Total liabilities and stockholders’ equity	$ 3,706,926	$ 3,235,423

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 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)	72,252,980	72,024,329

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net sales		$ 919,981	$ 546,848	$ 1,727,415	$ 1,022,763
Costs of goods sold		580,246	337,865	1,065,866	641,460
Gross profit		339,735	208,983	661,549	381,303
Operating expenses:
Selling and service		78,777	62,526	147,201	117,665
Research and development		25,344	19,455	47,732	38,104
General and administrative		41,610	29,782	74,509	57,671
Amortization of intangibles		11,052	7,667	20,031	15,448
Total operating expenses		156,783	119,430	289,473	228,888
Income from operations		182,952	89,553	372,076	152,415
Other (expense) income:
Interest expense		(7,721)	(7,932)	(15,444)	(16,985)
Investment income		244	660	847	1,620
Loss on extinguishment of debt	[1]	(831)	0	(831)	0
Other, net		(373)	(216)	2,936	(2,130)
Total other expense, net		(8,681)	(7,488)	(12,492)	(17,495)
Income before provision for income taxes		174,271	82,065	359,584	134,920
Provision for income taxes		46,362	18,473	81,730	27,917
Net income		127,909	63,592	277,854	107,003
Net income (loss) attributable to noncontrolling interests		873	(2,553)	1,825	(3,602)
Net income attributable to Generac Holdings Inc.		$ 127,036	$ 66,145	$ 276,029	$ 110,605
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share)		$ 2.06	$ 1.04	$ 4.44	$ 1.73
Weighted average common shares outstanding - basic: (in shares)		62,605,166	62,267,083	62,533,725	62,190,438
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share)		$ 2.01	$ 1.02	$ 4.34	$ 1.70
Weighted average common shares outstanding - diluted: (in shares)		64,088,709	63,364,253	64,097,378	63,363,721
Comprehensive income attributable to Generac Holdings Inc.		$ 119,246	$ 66,758	$ 273,062	$ 63,660
[1]	Represents the non-cash write-off of original issue discount and deferred financing costs due to voluntary prepayment of Term Loan debt.

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 loss on interest rate swaps, net of tax										0	0	0	0	0	(19,409)	(19,409)	0	(19,409)
Foreign currency translation adjustment										$ 0	0	$ 0	0	0	(28,200)	(28,200)	(2)	(28,202)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)										292,341		0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price										$ 3	3,478	$ 0	0	0	0	3,481	0	3,481
Net share settlement of restricted stock awards (in shares)										0		(67,149)
Net share settlement of restricted stock awards										$ 0	0	$ (6,864)	0	0	0	(6,864)	0	(6,864)
Share-based compensation										0	9,974	0	0	0	0	9,974	0	9,974
Redemption value adjustment										0	0	0	0	(3,092)	0	(3,092)	0	(3,092)
Net income attributable to Generac Holdings Inc.										$ 0	0	$ 0	0	110,605	0	110,605		110,605
Net income																	(922)
Net income																		109,683
Balance (in shares) at Jun. 30, 2020										71,960,067		(9,170,162)
Balance at Jun. 30, 2020										$ 720	512,318	$ (331,415)	(202,116)	1,190,749	(72,526)	1,097,730	(455)	1,097,275
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
Unrealized loss on interest rate swaps, net of tax										0	0	0	0	0	(3,596)	(3,596)	0	(3,596)
Foreign currency translation adjustment										$ 0	0	$ 0	0	0	5,014	5,014	2	5,016
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)										115,392		0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price										$ 1	2,723	$ 0	0	0	0	2,724	0	2,724
Net share settlement of restricted stock awards (in shares)										0		(268)
Net share settlement of restricted stock awards										$ 0	0	$ (29)	0	0	0	(29)	0	(29)
Share-based compensation										0	5,400	0	0	0	0	5,400	0	5,400
Redemption value adjustment										0	0	0	0	(1,570)	0	(1,570)	0	(1,570)
Net income attributable to Generac Holdings Inc.										$ 0	0	$ 0	0	66,145	0	66,145		66,145
Net income																	(502)
Net income																		65,643
Balance (in shares) at Jun. 30, 2020										71,960,067		(9,170,162)
Balance at Jun. 30, 2020										$ 720	512,318	$ (331,415)	(202,116)	1,190,749	(72,526)	1,097,730	(455)	1,097,275
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 loss on interest rate swaps, net of tax										0	0	0	0	0	12,243	12,243	0	12,243
Foreign currency translation adjustment										$ 0	0	$ 0	0	0	(15,572)	(15,572)	(5)	(15,577)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)										228,651		0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price										$ 2	4,931	$ 0	0	0	0	4,933	0	4,933
Net share settlement of restricted stock awards (in shares)										0		(78,366)
Net share settlement of restricted stock awards										$ 0	0	$ (26,317)	0	0	0	(26,317)	0	(26,317)
Share-based compensation										0	12,421	0	0	0	0	12,421	0	12,421
Redemption value adjustment										0	0	0	0	1,870	0	1,870	0	1,870
Net income attributable to Generac Holdings Inc.										$ 0	0	$ 0	0	276,029	0	276,029		276,029
Net income																	132
Net income																		276,161
Balance (in shares) at Jun. 30, 2021										72,252,980		(9,252,097)
Balance at Jun. 30, 2021										$ 723	542,893	$ (358,481)	(202,116)	1,710,464	(37,583)	1,655,900	38	1,655,938
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
Unrealized loss on interest rate swaps, net of tax										0	0	0	0	0	(2,752)	(2,752)	0	(2,752)
Foreign currency translation adjustment										$ 0	0	$ 0	0	0	(3,332)	(3,332)	(2)	(3,334)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)										47,234		0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price										$ 0	1,617	$ 0	0	0	0	1,617	0	1,617
Net share settlement of restricted stock awards (in shares)										0		(279)
Net share settlement of restricted stock awards										$ 0	0	$ (119)	0	0	0	(119)	0	(119)
Share-based compensation										0	6,973	0	0	0	0	6,973	0	6,973
Redemption value adjustment										0	0	0	0	1,747	0	1,747	0	1,747
Net income attributable to Generac Holdings Inc.										$ 0	0	$ 0	0	127,036	0	127,036		127,036
Net income																	201
Net income																		127,237
Balance (in shares) at Jun. 30, 2021										72,252,980		(9,252,097)
Balance at Jun. 30, 2021										$ 723	$ 542,893	$ (358,481)	$ (202,116)	$ 1,710,464	$ (37,583)	$ 1,655,900	$ 38	$ 1,655,938

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
AOCI Attributable to Parent [Member]
Unrealized gain (loss) on interest rate swaps, tax	$ (930)	$ (1,215)	$ 4,136	$ (6,556)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020
Operating activities
Net income		$ 277,854	$ 107,003
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		19,435	17,471
Amortization of intangible assets		20,031	15,448
Amortization of original issue discount and deferred financing costs		1,295	1,286
Loss on extinguishment of debt	[1]	831	0
Deferred income taxes		7,003	8,029
Share-based compensation expense	[2]	12,421	9,974
Loss (gain) on disposal of assets		(3,978)	0
Other, net		(142)	8,906
Net changes in operating assets and liabilities, net of acquisitions:
Accounts receivable		(96,846)	(19,021)
Inventories		(163,820)	(35,316)
Other assets		(4,172)	(1,220)
Accounts payable		186,041	(22,987)
Accrued wages and employee benefits		2,537	(3,604)
Other accrued liabilities		38,028	31,851
Excess tax benefits from equity awards		(21,525)	(4,706)
Net cash provided by operating activities		274,993	113,114
Investing activities
Proceeds from sale of property and equipment		74	12
Proceeds from sale of investment		4,902	0
Proceeds from beneficial interests in securitization transactions		1,363	1,324
Contribution to equity method investment		(216)	0
Expenditures for property and equipment		(54,222)	(26,332)
Acquisition of business, net of cash acquired		(419,017)	0
Net cash used in investing activities		(467,116)	(24,996)
Financing activities
Proceeds from short-term borrowings		57,589	122,489
Proceeds from long-term borrowings		50,000	81
Repayments of short-term borrowings		(73,675)	(125,745)
Repayments of long-term borrowings and finance lease obligations		(53,095)	(2,460)
Payment of contingent acquisition consideration		(3,750)	(4,000)
Payment of debt issuance costs		(1,185)	0
Purchase of additional ownership interest		(27,164)	0
Taxes paid related to equity awards		(39,967)	(10,951)
Proceeds from exercise of stock options		18,567	7,570
Net cash used in financing activities		(72,680)	(13,016)
Effect of exchange rate changes on cash and cash equivalents		(239)	(1,251)
Net (decrease) increase in cash and cash equivalents		(265,042)	73,851
Cash and cash equivalents at beginning of period		655,128	322,883
Cash and cash equivalents at end of period		$ 390,086	$ 396,734
[1]	Represents the non-cash write-off of original issue discount and deferred financing costs due to 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	6 Months Ended
	Jun. 30, 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 ● In June 2021, 1975 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 June 30, 2021 three six June 30, 2021 2020 three six June 30, 2021 2020 six June 30, 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	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Business Combination Disclosure [Text Block]	2 . Acquisitions Fiscal 2021 On June 1, 2021, The Company recorded its preliminary purchase price allocation during the second 2021 not June 30, 2021. not not Fiscal 2020 Acquisition of Enbala On October 7, 2020, The Company recorded its preliminary purchase price allocation during the fourth 2020, second 2021, June 30, 2021. not not Other Acquisitions In July 2020, In September 2020, The combined purchase price for these two June 30, 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 2021 2020 2021 Acquisition 2020 Acquisitions Accounts receivable $ 9,574 $ 5,094 Inventories 7,572 3,575 Prepaid expenses and other assets 826 858 Property and equipment 8,838 635 Intangible assets 172,145 26,235 Goodwill 264,975 40,842 Other assets 3,505 1,122 Total assets acquired 467,435 78,361 Accounts payable 8,254 4,088 Accrued wages and employee benefits 2,106 700 Other accrued liabilities 3,688 2,151 Deferred income tax liabilities 32,545 4,134 Other long-term liabilities 142 4,401 Net assets acquired $ 420,700 $ 62,887 The allocation of the purchase price to identifiable assets for these acquisitions are based on the preliminary valuations performed to determine the fair value of the net assets as of their respective acquisition dates. The measurement period for the valuation of net assets acquired ends as soon as information on the facts and circumstances that existed as of the acquisition dates becomes available, but not 12 may not 2020.

Note 3 - Redeemable Noncontroll

Note 3 - Redeemable Noncontrolling Interest	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Redeemable Noncontrolling Interest [Text Block]	3. On March 1, 2016, February 2019, five five no April 1, 2021. May 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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 Balance at beginning of period $ 63,254 $ 59,904 $ 66,207 $ 61,227 Net income 672 (2,052 ) 1,693 (2,681 ) Foreign currency translation 2,230 1,597 (1,621 ) (619 ) Purchase of additional ownership interest (27,164 ) - (27,164 ) - Redemption value adjustment (1,747 ) 1,570 (1,870 ) 3,092 Balance at end of period $ 37,245 $ 61,019 $ 37,245 $ 61,019

Note 4 - Derivative Instruments

Note 4 - Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 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 June 30, 2021 December 2019, March 2020, three fifteen June 30, 2021 three six June 30, 2021 three six June 30, 2020 Fair Value The following table presents the fair value of all of the Company’s derivatives: June 30, 2021 December 31, 2020 Commodity contracts $ 369 $ 1,386 Foreign currency contracts 21 (154 ) Interest rate swaps (13,158 ) (29,536 ) The fair values of the commodity contracts and foreign currency contracts are included in prepaid expenses and other current assets, 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 June 30, 2021 December 31, 2020. June 30, 2021 December 31, 2020

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurements	6 Months Ended
	Jun. 30, 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 $766,977, was approximately $781,950 (Level 2 June 30, 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	6 Months Ended
	Jun. 30, 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 six June 30, 2021 2020 Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – April 1, 2021 $ (23,914 ) $ (7,585 ) $ (31,499 ) Other comprehensive income (loss) before reclassifications (3,332 ) (2,752 ) (1) (6,084 ) Amounts reclassified from AOCL - - - Net current-period other comprehensive income (loss) (3,332 ) (2,752 ) (6,084 ) Ending Balance – June 30, 2021 $ (27,246 ) $ (10,337 ) $ (37,583 ) Beginning Balance – April 1, 2020 $ (49,836 ) $ (24,108 ) $ (73,944 ) Other comprehensive income (loss) before reclassifications 5,014 (3,596 ) (2) 1,418 Amounts reclassified from AOCL - - - Net current-period other comprehensive income (loss) 5,014 (3,596 ) 1,418 Ending Balance – June 30, 2020 $ (44,822 ) $ (27,704 ) $ (72,526 ) Beginning Balance – January 1, 2021 $ (11,674 ) $ (22,580 ) $ (34,254 ) Other comprehensive income (loss) before reclassifications (15,572 ) (3) 12,243 (4) (3,329 ) Amounts reclassified from AOCL - - - Net current-period other comprehensive loss (15,572 ) 12,243 (3,329 ) Ending Balance – June 30, 2021 $ (27,246 ) $ (10,337 ) $ (37,583 ) Beginning Balance – January 1, 2020 $ (16,622 ) $ (8,295 ) $ (24,917 ) Other comprehensive income (loss) before reclassifications (28,200 ) (5) (19,409 ) (6) (47,609 ) Amounts reclassified from AOCL - - - Net current-period other comprehensive income (loss) (28,200 ) (19,409 ) (47,609 ) Ending Balance – June 30, 2020 $ (44,822 ) $ (27,704 ) $ (72,526 ) ( 1 Represents unrealized losses of $(3,682) on the interest rate swaps, net of tax effect of $930 for the three June 30, 2021 ( 2 Represents unrealized losses of $(4,811) on the interest rate swaps, net of tax effect of $1,215 for the three June 30, 2020. ( 3 Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the six June 30, 2021, ( 4 Represents unrealized gains of $16,379 on the interest rate swaps, net of tax effect of $(4,136) for the six June 30, 2021 ( 5 Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the six June 30, 2020, ( 6 Represents unrealized losses of $(25,965) on the interest rate swaps, net of tax effect of $6,556 for the six June 30, 2020

Note 7 - Segment Reporting

Note 7 - Segment Reporting	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	7 . Segment Reporting The Company has two reportable segments for financial reporting purposes – Domestic and International. The Domestic segment includes the legacy Generac business (excluding its traditional Latin American export operations), and the acquisitions that are based in the U.S. and Canada, all of which have revenues substantially derived from the U.S. and Canada. The International segment includes the legacy Generac business’ Latin American export operations, and the Ottomotores, Tower Light, Pramac, Motortech, Selmec, and Deep Sea acquisitions, all of which have revenues substantially derived from outside the U.S. and Canada. Both reportable segments design and manufacture a wide range of energy technology solutions 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, 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 June 30, 2021 Product Classes Domestic International Total Residential products $ 583,341 $ 16,650 $ 599,991 Commercial & industrial products 143,654 110,641 254,295 Other 57,151 8,544 65,695 Total net sales $ 784,146 $ 135,835 $ 919,981 Three Months Ended June 30, 2020 Product Classes Domestic International Total Residential products $ 327,857 $ 13,495 $ 341,352 Commercial & industrial products 90,339 64,551 154,890 Other 42,578 8,028 50,606 Total net sales $ 460,774 $ 86,074 $ 546,848 Net Sales by Segment Six Months Ended June 30, 2021 Product Classes Domestic International Total Residential products $ 1,105,556 $ 36,584 $ 1,142,140 Commercial & industrial products 261,533 195,153 456,686 Other 109,795 18,794 128,589 Total net sales $ 1,476,884 $ 250,531 $ 1,727,415 Six Months Ended June 30, 2020 Product Classes Domestic International Total Residential products $ 571,686 $ 27,285 $ 598,971 Commercial & industrial products 186,167 140,790 326,957 Other 78,951 17,884 96,835 Total net sales $ 836,804 $ 185,959 $ 1,022,763 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 and controls used in C&I applications with power outputs up to 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 certain 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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 Domestic $ 203,931 $ 121,256 $ 411,004 $ 204,030 International 13,748 1,884 20,869 5,134 Total adjusted EBITDA $ 217,679 $ 123,140 $ 431,873 $ 209,164 Interest expense (7,721 ) (7,932 ) (15,444 ) (16,985 ) Depreciation and amortization (21,229 ) (16,803 ) (39,466 ) (32,919 ) Non-cash write-down and other adjustments (1) (1,173 ) 893 2,695 (1,391 ) Non-cash share-based compensation expense (2) (6,973 ) (5,400 ) (12,421 ) (9,974 ) Loss on extinguishment of debt (3) (831 ) - (831 ) - Transaction costs and credit facility fees (4) (5,172 ) (358 ) (6,086 ) (592 ) Business optimization and other charges (5) - (11,460 ) (159 ) (11,972 ) Other (309 ) (15 ) (577 ) (411 ) Income before provision for income taxes $ 174,271 $ 82,065 $ 359,584 $ 134,920 ( 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 the non-cash write-off of original issue discount and deferred financing costs due to 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 For the six June 30, 2021, three six June 30, 2020, 19 The Company’s sales in the U.S. represented approximately 82% and 83% of total sales for the three June 30, 2021 2020 six June 30, 2021 2020, June 30, 2021 December 31, 2020

Note 8 - Balance Sheet Details

Note 8 - Balance Sheet Details	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	8 . Balance Sheet Details Inventories consist of the following: June 30, December 31, 2021 2020 Raw material $ 476,590 $ 375,516 Work-in-process 5,061 6,833 Finished goods 291,210 220,968 Total $ 772,861 $ 603,317 Property and equipment consists of the following: June 30, December 31, 2021 2020 Land and improvements $ 23,228 $ 18,363 Buildings and improvements 223,266 198,908 Machinery and equipment 156,866 153,696 Dies and tools 27,727 24,190 Vehicles 6,941 6,037 Office equipment and systems 114,774 107,923 Leasehold improvements 4,852 5,276 Construction in progress 49,200 30,227 Gross property and equipment 606,854 544,620 Accumulated depreciation (214,336 ) (200,684 ) Total $ 392,518 $ 343,936 Total property and equipment included finance leases of $27,942 and $27,269 at June 30, 2021 December 31, 2020

Note 9 - Product Warranty Oblig

Note 9 - Product Warranty Obligations	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 Balance at beginning of period $ 65,297 $ 49,023 $ 59,218 $ 49,316 Payments (9,282 ) (7,881 ) (19,061 ) (15,469 ) Provision for warranty issued 17,164 8,456 31,994 16,742 Changes in estimates for pre-existing warranties 1,579 726 2,607 (265 ) Balance at end of period $ 74,758 $ 50,324 $ 74,758 $ 50,324 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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 Balance at beginning of period $ 93,182 $ 80,880 $ 89,788 $ 78,738 Deferred revenue contracts issued 12,168 6,225 20,199 12,164 Amortization of deferred revenue contracts (4,866 ) (3,952 ) (9,503 ) (7,749 ) Balance at end of period $ 100,484 $ 83,153 $ 100,484 $ 83,153 The timing of recognition of the Company’s deferred revenue balance related to extended warranties at June 30, 2021 Remainder of 2021 $ 10,048 2022 20,430 2023 19,609 2024 15,376 2025 11,676 After 2025 23,345 Total $ 100,484 Standard product warranty obligations and extended warranty related deferred revenues are included in the condensed consolidated balance sheets as follows: June 30, December 31, 2021 2020 Product warranty liability Current portion - other accrued liabilities $ 47,350 $ 37,417 Long-term portion - other long-term liabilities 27,408 21,801 Total $ 74,758 $ 59,218 Deferred revenue related to extended warranties Current portion - other accrued liabilities $ 20,194 $ 18,857 Long-term portion - other long-term liabilities 80,290 70,931 Total $ 100,484 $ 89,788

Note 10 - Contract Balances

Note 10 - Contract Balances	6 Months Ended
	Jun. 30, 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 $31,316 and $25,710 at June 30, 2021 December 31, 2020 six June 30, 2021 December 31, 2020 one

Note 11 - Credit Agreements

Note 11 - Credit Agreements	6 Months Ended
	Jun. 30, 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: June 30, December 31, 2021 2020 Asset Backed Loan ("ABL") Facility $ - $ - Other lines of credit 23,760 39,282 Total $ 23,760 $ 39,282 As of June 30, 2021 December 31, 2020 Long-term borrowings are included in the condensed consolidated balance sheets as follows: June 30, December 31, 2021 2020 Term Loan $ 780,000 $ 830,000 Original issue discount and deferred financing costs (14,509 ) (15,450 ) ABL Facility 50,000 - Finance lease obligation 28,389 27,371 Other 2,960 3,990 Total 846,840 845,911 Less: current portion of debt 1,783 1,836 Less: current portion of finance lease obligation 2,450 2,311 Total $ 842,607 $ 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 June 30, 2021 1.00 no The Company’s credit agreements also provide for a senior secured ABL revolving credit facility. Borrowings under the ABL Facility are guaranteed by substantially all of the Company’s wholly-owned domestic restricted subsidiaries, and are secured by associated collateral agreements which pledge a first second In May 2021, June 12, 2023 May 27, 2026 ( second 2021. In May 2021, June 30, 2021 second 2021

Note 12 - Stock Repurchase Prog

Note 12 - Stock Repurchase Program	6 Months Ended
	Jun. 30, 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 six June 30, 2021 2020. August 2015,

Note 13 - Earnings Per Share

Note 13 - Earnings Per Share	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 Numerator Net income attributable to Generac Holdings Inc. $ 127,036 $ 66,145 $ 276,029 $ 110,605 Redeemable noncontrolling interest redemption value adjustment 1,747 (1,570 ) 1,870 (3,092 ) Net income attributable to common shareholders $ 128,783 $ 64,575 $ 277,899 $ 107,513 Denominator Weighted average shares, basic 62,605,166 62,267,083 62,533,725 62,190,438 Dilutive effect of stock compensation awards (1) 1,483,543 1,097,170 1,563,653 1,173,283 Diluted shares 64,088,709 63,364,253 64,097,378 63,363,721 Net income attributable to common shareholders per share Basic $ 2.06 $ 1.04 $ 4.44 $ 1.73 Diluted $ 2.01 $ 1.02 $ 4.34 $ 1.70 ( 1 three six June 30, 2020, no three six June 30, 2021.

Note 14 - Income Taxes

Note 14 - Income Taxes	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	14 . Income Taxes The effective income tax rates for the six June 30, 2021 2020 second

Note 15 - Commitments and Conti

Note 15 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 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 June 30, 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

Note 16 - Subsequent Event

Note 16 - Subsequent Event	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	16. On July 2, 2021,

Note 2 - Acquisitions (Tables)

Note 2 - Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	2021 Acquisition 2020 Acquisitions Accounts receivable $ 9,574 $ 5,094 Inventories 7,572 3,575 Prepaid expenses and other assets 826 858 Property and equipment 8,838 635 Intangible assets 172,145 26,235 Goodwill 264,975 40,842 Other assets 3,505 1,122 Total assets acquired 467,435 78,361 Accounts payable 8,254 4,088 Accrued wages and employee benefits 2,106 700 Other accrued liabilities 3,688 2,151 Deferred income tax liabilities 32,545 4,134 Other long-term liabilities 142 4,401 Net assets acquired $ 420,700 $ 62,887

Note 3 - Redeemable Noncontro_2

Note 3 - Redeemable Noncontrolling Interest (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Redeemable Noncontrolling Interest [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Balance at beginning of period $ 63,254 $ 59,904 $ 66,207 $ 61,227 Net income 672 (2,052 ) 1,693 (2,681 ) Foreign currency translation 2,230 1,597 (1,621 ) (619 ) Purchase of additional ownership interest (27,164 ) - (27,164 ) - Redemption value adjustment (1,747 ) 1,570 (1,870 ) 3,092 Balance at end of period $ 37,245 $ 61,019 $ 37,245 $ 61,019

Note 4 - Derivative Instrumen_2

Note 4 - Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule Of Derivative Assets (Liabilities) at Fair Value [Table Text Block]	June 30, 2021 December 31, 2020 Commodity contracts $ 369 $ 1,386 Foreign currency contracts 21 (154 ) Interest rate swaps (13,158 ) (29,536 )

Note 6 - Accumulated Other Co_2

Note 6 - Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 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 – April 1, 2021 $ (23,914 ) $ (7,585 ) $ (31,499 ) Other comprehensive income (loss) before reclassifications (3,332 ) (2,752 ) (1) (6,084 ) Amounts reclassified from AOCL - - - Net current-period other comprehensive income (loss) (3,332 ) (2,752 ) (6,084 ) Ending Balance – June 30, 2021 $ (27,246 ) $ (10,337 ) $ (37,583 ) Beginning Balance – April 1, 2020 $ (49,836 ) $ (24,108 ) $ (73,944 ) Other comprehensive income (loss) before reclassifications 5,014 (3,596 ) (2) 1,418 Amounts reclassified from AOCL - - - Net current-period other comprehensive income (loss) 5,014 (3,596 ) 1,418 Ending Balance – June 30, 2020 $ (44,822 ) $ (27,704 ) $ (72,526 ) Beginning Balance – January 1, 2021 $ (11,674 ) $ (22,580 ) $ (34,254 ) Other comprehensive income (loss) before reclassifications (15,572 ) (3) 12,243 (4) (3,329 ) Amounts reclassified from AOCL - - - Net current-period other comprehensive loss (15,572 ) 12,243 (3,329 ) Ending Balance – June 30, 2021 $ (27,246 ) $ (10,337 ) $ (37,583 ) Beginning Balance – January 1, 2020 $ (16,622 ) $ (8,295 ) $ (24,917 ) Other comprehensive income (loss) before reclassifications (28,200 ) (5) (19,409 ) (6) (47,609 ) Amounts reclassified from AOCL - - - Net current-period other comprehensive income (loss) (28,200 ) (19,409 ) (47,609 ) Ending Balance – June 30, 2020 $ (44,822 ) $ (27,704 ) $ (72,526 )

Note 7 - Segment Reporting (Tab

Note 7 - Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Disaggregation of Revenue [Table Text Block]	Net Sales by Segment Three Months Ended June 30, 2021 Product Classes Domestic International Total Residential products $ 583,341 $ 16,650 $ 599,991 Commercial & industrial products 143,654 110,641 254,295 Other 57,151 8,544 65,695 Total net sales $ 784,146 $ 135,835 $ 919,981 Three Months Ended June 30, 2020 Product Classes Domestic International Total Residential products $ 327,857 $ 13,495 $ 341,352 Commercial & industrial products 90,339 64,551 154,890 Other 42,578 8,028 50,606 Total net sales $ 460,774 $ 86,074 $ 546,848 Net Sales by Segment Six Months Ended June 30, 2021 Product Classes Domestic International Total Residential products $ 1,105,556 $ 36,584 $ 1,142,140 Commercial & industrial products 261,533 195,153 456,686 Other 109,795 18,794 128,589 Total net sales $ 1,476,884 $ 250,531 $ 1,727,415 Six Months Ended June 30, 2020 Product Classes Domestic International Total Residential products $ 571,686 $ 27,285 $ 598,971 Commercial & industrial products 186,167 140,790 326,957 Other 78,951 17,884 96,835 Total net sales $ 836,804 $ 185,959 $ 1,022,763
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Adjusted EBITDA Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Domestic $ 203,931 $ 121,256 $ 411,004 $ 204,030 International 13,748 1,884 20,869 5,134 Total adjusted EBITDA $ 217,679 $ 123,140 $ 431,873 $ 209,164 Interest expense (7,721 ) (7,932 ) (15,444 ) (16,985 ) Depreciation and amortization (21,229 ) (16,803 ) (39,466 ) (32,919 ) Non-cash write-down and other adjustments (1) (1,173 ) 893 2,695 (1,391 ) Non-cash share-based compensation expense (2) (6,973 ) (5,400 ) (12,421 ) (9,974 ) Loss on extinguishment of debt (3) (831 ) - (831 ) - Transaction costs and credit facility fees (4) (5,172 ) (358 ) (6,086 ) (592 ) Business optimization and other charges (5) - (11,460 ) (159 ) (11,972 ) Other (309 ) (15 ) (577 ) (411 ) Income before provision for income taxes $ 174,271 $ 82,065 $ 359,584 $ 134,920

Note 8 - Balance Sheet Details

Note 8 - Balance Sheet Details (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, December 31, 2021 2020 Raw material $ 476,590 $ 375,516 Work-in-process 5,061 6,833 Finished goods 291,210 220,968 Total $ 772,861 $ 603,317
Property, Plant and Equipment [Table Text Block]	June 30, December 31, 2021 2020 Land and improvements $ 23,228 $ 18,363 Buildings and improvements 223,266 198,908 Machinery and equipment 156,866 153,696 Dies and tools 27,727 24,190 Vehicles 6,941 6,037 Office equipment and systems 114,774 107,923 Leasehold improvements 4,852 5,276 Construction in progress 49,200 30,227 Gross property and equipment 606,854 544,620 Accumulated depreciation (214,336 ) (200,684 ) Total $ 392,518 $ 343,936

Note 9 - Product Warranty Obl_2

Note 9 - Product Warranty Obligations (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Balance at beginning of period $ 65,297 $ 49,023 $ 59,218 $ 49,316 Payments (9,282 ) (7,881 ) (19,061 ) (15,469 ) Provision for warranty issued 17,164 8,456 31,994 16,742 Changes in estimates for pre-existing warranties 1,579 726 2,607 (265 ) Balance at end of period $ 74,758 $ 50,324 $ 74,758 $ 50,324 Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Balance at beginning of period $ 93,182 $ 80,880 $ 89,788 $ 78,738 Deferred revenue contracts issued 12,168 6,225 20,199 12,164 Amortization of deferred revenue contracts (4,866 ) (3,952 ) (9,503 ) (7,749 ) Balance at end of period $ 100,484 $ 83,153 $ 100,484 $ 83,153
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]	Remainder of 2021 $ 10,048 2022 20,430 2023 19,609 2024 15,376 2025 11,676 After 2025 23,345 Total $ 100,484
Product Warranty Obligations Included In Consolidated Balance Sheet [Table Text Block]	June 30, December 31, 2021 2020 Product warranty liability Current portion - other accrued liabilities $ 47,350 $ 37,417 Long-term portion - other long-term liabilities 27,408 21,801 Total $ 74,758 $ 59,218 Deferred revenue related to extended warranties Current portion - other accrued liabilities $ 20,194 $ 18,857 Long-term portion - other long-term liabilities 80,290 70,931 Total $ 100,484 $ 89,788

Note 11 - Credit Agreements (Ta

Note 11 - Credit Agreements (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Short-term Debt [Table Text Block]	June 30, December 31, 2021 2020 Asset Backed Loan ("ABL") Facility $ - $ - Other lines of credit 23,760 39,282 Total $ 23,760 $ 39,282
Schedule of Long-term Debt Instruments [Table Text Block]	June 30, December 31, 2021 2020 Term Loan $ 780,000 $ 830,000 Original issue discount and deferred financing costs (14,509 ) (15,450 ) ABL Facility 50,000 - Finance lease obligation 28,389 27,371 Other 2,960 3,990 Total 846,840 845,911 Less: current portion of debt 1,783 1,836 Less: current portion of finance lease obligation 2,450 2,311 Total $ 842,607 $ 841,764

Note 13 - Earnings Per Share (T

Note 13 - Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Numerator Net income attributable to Generac Holdings Inc. $ 127,036 $ 66,145 $ 276,029 $ 110,605 Redeemable noncontrolling interest redemption value adjustment 1,747 (1,570 ) 1,870 (3,092 ) Net income attributable to common shareholders $ 128,783 $ 64,575 $ 277,899 $ 107,513 Denominator Weighted average shares, basic 62,605,166 62,267,083 62,533,725 62,190,438 Dilutive effect of stock compensation awards (1) 1,483,543 1,097,170 1,563,653 1,173,283 Diluted shares 64,088,709 63,364,253 64,097,378 63,363,721 Net income attributable to common shareholders per share Basic $ 2.06 $ 1.04 $ 4.44 $ 1.73 Diluted $ 2.01 $ 1.02 $ 4.34 $ 1.70

Note 2 - Acquisitions (Details

Note 2 - Acquisitions (Details Textual) - USD ($) $ in Thousands	Jun. 01, 2021	Oct. 07, 2020	Sep. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Payments to Acquire Businesses, Net of Cash Acquired, Total				$ 419,017	$ 0
Goodwill, Ending Balance				$ 1,109,908		$ 855,228
Acquisition of Deep Sea [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total	$ 420,700
Business Acquisition, Purchase Price Allocation, Intangible Assets Including Goodwill	437,120
Goodwill, Ending Balance	$ 264,975
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			$ 20,905

Note 2 - Acquisitions - Prelimi

Note 2 - Acquisitions - Preliminary Price Allocation (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Goodwill	$ 1,109,908	$ 855,228
The 2021 Acquisitions [Member]
Accounts receivable	9,574
Inventories	7,572
Prepaid expenses and other assets	826
Property and equipment	8,838
Intangible assets	172,145
Goodwill	264,975
Other assets	3,505
Total assets acquired	467,435
Accounts payable	8,254
Accrued wages and employee benefits	2,106
Other accrued liabilities	3,688
Deferred income tax liabilities	32,545
Other long-term liabilities	142
Net assets acquired	$ 420,700
The 2020 Acquisitions [Member]
Accounts receivable		5,094
Inventories		3,575
Prepaid expenses and other assets		858
Property and equipment		635
Intangible assets		26,235
Goodwill		40,842
Other assets		1,122
Total assets acquired		78,361
Accounts payable		4,088
Accrued wages and employee benefits		700
Other accrued liabilities		2,151
Deferred income tax liabilities		4,134
Other long-term liabilities		4,401
Net assets acquired		$ 62,887

Note 3 - Redeemable Noncontro_3

Note 3 - Redeemable Noncontrolling Interest (Details Textual) - USD ($) $ in Thousands	Feb. 01, 2019	May 31, 2021	Feb. 28, 2019	Jun. 30, 2021	Jun. 30, 2020	Mar. 01, 2016
Payments for Repurchase of Redeemable Noncontrolling Interest				$ 27,164	$ 0
Pramac [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		20.00%				35.00%
Captiva Energy Solutions [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	49.00%
Pramac [Member]
Business Acquisition, Percentage of Voting Interests Acquired		15.00%				65.00%
Redeemable Noncontrolling Interest, Equity, Fair Value, Total						$ 34,253
Noncontrolling Interest Agreement, Extension of Term (Year)		3 years	5 years
Payments for Repurchase of Redeemable Noncontrolling Interest		$ 27,164
Business Combination, Step Acquisition, Equity Interest in Acquiree, including Subsequent Acquisition, Percentage, Total		80.00%
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		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Redemption value adjustment	$ 1,747	$ (1,570)	$ 1,870	$ (3,092)
Redeemable Noncontrolling Interest [Member]
Balance	63,254	59,904	66,207	61,227
Net income	672	(2,052)	1,693	(2,681)
Foreign currency translation	2,230	1,597	(1,621)	(619)
Purchase of additional ownership interest	(27,164)	0	(27,164)	0
Redemption value adjustment	(1,747)	1,570	(1,870)	3,092
Balance	$ 37,245	$ 61,019	$ 37,245	$ 61,019

Note 4 - Derivative Instrumen_3

Note 4 - Derivative Instruments and Hedging Activities (Details Textual) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2020	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2017	Dec. 31, 2020USD ($)
Derivative, Number of Instruments Held, Total		0		0
Derivative Assets (Liabilities), Net Fair Value of Derivative Contracts, Excluding Impact of Credit Risk		$ (12,983)		$ (12,983)			$ (28,667)
Interest Rate Swap [Member]
Number of New Contracts Entered	3					20
Derivative, Number of Instruments Outstanding		15		15
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax		$ (2,752)	$ (3,596)	$ 12,243	$ (19,409)

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	Jun. 30, 2021	Dec. 31, 2020
Commodity Contract [Member]
Fair Value of Derivatives	$ 369	$ 1,386
Foreign Exchange Contract [Member]
Fair Value of Derivatives	21	(154)
Interest Rate Swap [Member]
Fair Value of Derivatives	$ (13,158)	$ (29,536)

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurements (Details Textual) $ in Thousands	Jun. 30, 2021USD ($)
Long-term Debt, Total	$ 766,977
Long-term Debt, Fair Value	$ 781,950

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		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Other Comprehensive Income (Loss), before Reclassifications, before Tax	$ (3,682)	$ (4,811)	$ 16,379	$ (25,965)
Other Comprehensive Income (Loss) before Reclassifications, Tax, Total	$ 930	$ 1,215	$ (4,136)	$ 6,556

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				6 Months Ended
	Jun. 30, 2021		Jun. 30, 2020		Jun. 30, 2021		Jun. 30, 2020
Balance	$ 1,524,569		$ 1,023,687		$ 1,390,204		$ 1,032,851
Balance	1,655,938		1,097,275		1,655,938		1,097,275
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(23,914)		(49,836)		(11,674)		(16,622)
Other comprehensive income (loss) before reclassifications	(3,332)		5,014		(15,572)	[1]	(28,200)	[2]
Amounts reclassified from AOCL	0		0		0		0
Net current-period other comprehensive income (loss)	(3,332)		5,014		(15,572)		(28,200)
Balance	(27,246)		(44,822)		(27,246)		(44,822)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Balance	(7,585)		(24,108)		(22,580)		(8,295)
Other comprehensive income (loss) before reclassifications	(2,752)	[3]	(3,596)	[4]	12,243	[5]	(19,409)	[6]
Amounts reclassified from AOCL	0		0		0		0
Net current-period other comprehensive income (loss)	(2,752)		(3,596)		12,243		(19,409)
Balance	(10,337)		(27,704)		(10,337)		(27,704)
AOCI Attributable to Parent [Member]
Balance	(31,499)		(73,944)		(34,254)		(24,917)
Other comprehensive income (loss) before reclassifications	(6,084)		1,418		(3,329)		(47,609)
Amounts reclassified from AOCL	0		0		0		0
Net current-period other comprehensive income (loss)	(6,084)		1,418		(3,329)		(47,609)
Balance	$ (37,583)		$ (72,526)		$ (37,583)		$ (72,526)
[1]	Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the six months ended June 30, 2021, particularly the Euro and British Pound.
[2]	Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the six months ended June 30, 2020, particularly the Mexican Peso, Euro, Brazilian Real, and Russian Ruble.
[3]	Represents unrealized losses of $(3,682) on the interest rate swaps, net of tax effect of $930 for the three months ended June 30, 2021.
[4]	Represents unrealized losses of $(4,811) on the interest rate swaps, net of tax effect of $1,215 for the three months ended June 30, 2020.
[5]	Represents unrealized gains of $16,379 on the interest rate swaps, net of tax effect of $(4,136) for the six months ended June 30, 2021.
[6]	Represents unrealized losses of $(25,965) on the interest rate swaps, net of tax effect of $6,556 for the six months ended June 30, 2020.

Note 7 - Segment Reporting (Det

Note 7 - Segment Reporting (Details Textual)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Number of Reportable Segments			2
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | UNITED STATES
Concentration Risk, Percentage	82.00%	83.00%	83.00%	80.00%
Geographic Concentration Risk [Member] | Net Assets, Geographic Area [Member] | UNITED STATES
Concentration Risk, Percentage			64.00%		81.00%

Note 7 - Segment Reporting - Ne

Note 7 - Segment Reporting - Net Sales by Products and Services (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net sales	$ 919,981	$ 546,848	$ 1,727,415	$ 1,022,763
Domestic [Member]
Net sales	784,146	460,774	1,476,884	836,804
International [Member]
Net sales	135,835	86,074	250,531	185,959
Residential Power Products [Member]
Net sales	599,991	341,352	1,142,140	598,971
Residential Power Products [Member] | Domestic [Member]
Net sales	583,341	327,857	1,105,556	571,686
Residential Power Products [Member] | International [Member]
Net sales	16,650	13,495	36,584	27,285
Commercial and Industrial Power Products [Member]
Net sales	254,295	154,890	456,686	326,957
Commercial and Industrial Power Products [Member] | Domestic [Member]
Net sales	143,654	90,339	261,533	186,167
Commercial and Industrial Power Products [Member] | International [Member]
Net sales	110,641	64,551	195,153	140,790
Other Products and Services [Member]
Net sales	65,695	50,606	128,589	96,835
Other Products and Services [Member] | Domestic [Member]
Net sales	57,151	42,578	109,795	78,951
Other Products and Services [Member] | International [Member]
Net sales	$ 8,544	$ 8,028	$ 18,794	$ 17,884

Note 7 - Segment Reporting - Se

Note 7 - Segment Reporting - Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Total adjusted EBITDA		$ 217,679	$ 123,140	$ 431,873	$ 209,164
Interest expense		(7,721)	(7,932)	(15,444)	(16,985)
Depreciation and amortization		(21,229)	(16,803)	(39,466)	(32,919)
Non-cash write-down and other adjustments	[1]	(1,173)	893	2,695	(1,391)
Non-cash share-based compensation expense	[2]	(6,973)	(5,400)	(12,421)	(9,974)
Loss on extinguishment of debt	[3]	(831)	0	(831)	0
Transaction costs and credit facility fees	[4]	(5,172)	(358)	(6,086)	(592)
Business optimization and other charges	[5]	0	(11,460)	(159)	(11,972)
Other		(309)	(15)	(577)	(411)
Income before provision for income taxes		174,271	82,065	359,584	134,920
Domestic [Member]
Total adjusted EBITDA		203,931	121,256	411,004	204,030
International [Member]
Total adjusted EBITDA		$ 13,748	$ 1,884	$ 20,869	$ 5,134
[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 the non-cash write-off of original issue discount and deferred financing costs due to 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]	For the six months ended June 30, 2021, represents severance and other charges related to the consolidation of certain of our facilities. For the three and six months ended June 30, 2020, represents severance, non-cash asset write-downs, and other charges to address the impact of the COVID-19 pandemic and decline in oil prices.

Note 8 - Balance Sheet Detail_2

Note 8 - Balance Sheet Details (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Capital Leases, Balance Sheet, Assets by Major Class, Net, Total	$ 27,942	$ 27,269

Note 8 - Balance Sheet Detail_3

Note 8 - Balance Sheet Details - Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Raw material	$ 476,590	$ 375,516
Work-in-process	5,061	6,833
Finished goods	291,210	220,968
Total	$ 772,861	$ 603,317

Note 8 - Balance Sheet Detail_4

Note 8 - Balance Sheet Details - Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property and equipment, gross	$ 606,854	$ 544,620
Accumulated depreciation	(214,336)	(200,684)
Total	392,518	343,936
Land and Land Improvements [Member]
Property and equipment, gross	23,228	18,363
Building and Building Improvements [Member]
Property and equipment, gross	223,266	198,908
Machinery and Equipment [Member]
Property and equipment, gross	156,866	153,696
Dies and Tools [Member]
Property and equipment, gross	27,727	24,190
Vehicles [Member]
Property and equipment, gross	6,941	6,037
Office Equipment [Member]
Property and equipment, gross	114,774	107,923
Leasehold Improvements [Member]
Property and equipment, gross	4,852	5,276
Construction in Progress [Member]
Property and equipment, gross	$ 49,200	$ 30,227

Note 9 - Product Warranty Obl_3

Note 9 - Product Warranty Obligations (Details Textual)	6 Months Ended
	Jun. 30, 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		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Balance at beginning of period	$ 65,297	$ 49,023	$ 59,218	$ 49,316
Payments	(9,282)	(7,881)	(19,061)	(15,469)
Provision for warranty issued	17,164	8,456	31,994	16,742
Changes in estimates for pre-existing warranties	1,579	726	2,607	(265)
Balance at end of period	74,758	50,324	74,758	50,324
Balance at beginning of period	93,182	80,880	89,788	78,738
Deferred revenue contracts issued	12,168	6,225	20,199	12,164
Amortization of deferred revenue contracts	(4,866)	(3,952)	(9,503)	(7,749)
Balance at end of period	$ 100,484	$ 83,153	$ 100,484	$ 83,153

Note 9 - Product Warranty Obl_5

Note 9 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties (Details) $ in Thousands	Jun. 30, 2021USD ($)
Revenue performance obligation	$ 100,484

Note 9 - Product Warranty Obl_6

Note 9 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties 2 (Details) $ in Thousands	Jun. 30, 2021USD ($)
Revenue performance obligation	$ 100,484
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue performance obligation	10,048
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue performance obligation	20,430
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue performance obligation	19,609
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue performance obligation	15,376
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue performance obligation	11,676
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue performance obligation	$ 23,345

Note 9 - Product Warranty Obl_7

Note 9 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties (Details) (Parentheticals)	Jun. 30, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue performance period (Year)	6 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	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Current portion - other accrued liabilities	$ 47,350		$ 37,417
Long-term portion - other long-term liabilities	27,408		21,801
Total	74,758	$ 65,297	59,218	$ 50,324	$ 49,023	$ 49,316
Current portion - other accrued liabilities	20,194		18,857
Long-term portion - other long-term liabilities	80,290		70,931
Total	$ 100,484	$ 93,182	$ 89,788	$ 83,153	$ 80,880	$ 78,738

Note 10 - Contract Balances (De

Note 10 - Contract Balances (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Contract with Customer, Liability, Current	$ 31,316	$ 25,710
Contract with Customer, Liability, Revenue Recognized	$ 20,977

Note 11 - Credit Agreements (De

Note 11 - Credit Agreements (Details Textual) - USD ($) $ in Thousands		May 31, 2013	May 31, 2021	May 31, 2015	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Apr. 30, 2021
Gain (Loss) on Extinguishment of Debt, Total	[1]				$ (831)	$ 0	$ (831)	$ 0
ABL Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 500,000						$ 300,000
Line of Credit Facility, Incremental Capacity			200,000						$ 100,000
Debt Issuance Costs, Net, Total			920
Proceeds from Long-term Lines of Credit			$ 50,000
Long-term Line of Credit, Total					50,000		50,000
Line of Credit Facility, Remaining Borrowing Capacity					439,529		439,529
Base Rate [Member] | ABL Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate				1.00%
Base Rate [Member] | Maximum [Member] | ABL Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate			0.25%
Base Rate [Member] | Minimum [Member] | ABL Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate			0.00%
Adjusted LIBOR Rate [Member] | ABL Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate				2.00%
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | ABL Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate			1.25%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ABL Revolving Credit Facility [Member]
Debt Instrument, Basis Spread on Variable Rate			1.00%
Term Loan [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 1,200,000
Uncommitted Incremental Term Loan Facility					300,000		$ 300,000
Secured Leverage Ratio							0.79
Gain (Loss) on Extinguishment of Debt, Total					$ (831)
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%
[1]	Represents the non-cash write-off of original issue discount and deferred financing costs due to voluntary prepayment of Term Loan debt.

Note 11 - Credit Agreements - S

Note 11 - Credit Agreements - Short-term Borrowings (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Short-term Borrowings	$ 23,760	$ 39,282
ABL Revolving Credit Facility [Member]
Short-term Borrowings	0	0
Other Lines of Credit [Member]
Short-term Borrowings	$ 23,760	$ 39,282

Note 11 - Credit Agreements - L

Note 11 - Credit Agreements - Long-term Borrowings (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Term Loan	$ 780,000	$ 830,000
Original issue discount and deferred financing costs	(14,509)	(15,450)
ABL Facility	50,000	0
Finance lease obligation	28,389	27,371
Other	2,960	3,990
Total	846,840	845,911
Less: current portion of debt	1,783	1,836
Less: current portion of finance lease obligation	2,450	2,311
Total	$ 842,607	$ 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		6 Months Ended		71 Months Ended
	Sep. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 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	0	0	8,676,706

Note 13 - Earnings Per Share (D

Note 13 - Earnings Per Share (Details Textual) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0	49,000	0	15,000

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		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net income attributable to Generac Holdings Inc.		$ 127,036	$ 66,145	$ 276,029	$ 110,605
Redeemable noncontrolling interest redemption value adjustment		1,747	(1,570)	1,870	(3,092)
Net income attributable to common shareholders		$ 128,783	$ 64,575	$ 277,899	$ 107,513
Weighted average shares, basic (in shares)		62,605,166	62,267,083	62,533,725	62,190,438
Dilutive effect of stock compensation awards (in shares)	[1]	1,483,543	1,097,170	1,563,653	1,173,283
Diluted shares (in shares)		64,088,709	63,364,253	64,097,378	63,363,721
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share)		$ 2.06	$ 1.04	$ 4.44	$ 1.73
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share)		$ 2.01	$ 1.02	$ 4.34	$ 1.70
[1]	Excludes approximately 49,000 and 15,000 stock options for the three and six months ended June 30, 2020, respectively, as the impact of such awards was anti-dilutive. There were no awards with an anti-dilutive impact for the three and six months ended June 30, 2021.

Note 14 - Income Taxes (Details

Note 14 - Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Effective Income Tax Rate Reconciliation, Percent, Total		22.70%	20.70%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	$ 7

Note 15 - Commitments and Con_2

Note 15 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Amount Financed by Dealers	$ 93.7	$ 55.6