Generac (GNRC) 10-Q 4 Nov 21 2021 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 01, 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	Q3
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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		63,089,973

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 423,726	$ 655,128
Accounts receivable, less allowance for credit losses	510,670	374,906
Inventories	934,948	603,317
Prepaid expenses and other assets	54,228	36,382
Total current assets	1,923,572	1,669,733
Property and equipment, net	412,706	343,936
Customer lists, net	154,152	49,205
Patents and technology, net	141,952	86,727
Other intangible assets, net	14,703	9,932
Tradenames, net	172,398	146,159
Goodwill	1,174,315	855,228
Deferred income taxes	3,813	1,497
Operating lease and other assets	102,819	73,006
Total assets	4,100,430	3,235,423
Current liabilities:
Short-term Borrowings	61,470	39,282
Accounts payable	611,181	330,247
Accrued wages and employee benefits	69,882	63,036
Other accrued liabilities	270,536	204,812
Current portion of long-term borrowings and finance lease obligations	4,945	4,147
Total current liabilities	1,018,014	641,524
Long-term borrowings and finance lease obligations	843,426	841,764
Deferred income taxes	175,665	115,769
Operating lease and other long-term liabilities	236,344	179,955
Total liabilities	2,273,449	1,779,012
Redeemable noncontrolling interests	44,704	66,207
Stockholders’ equity:
Common stock, par value $0.01, 500,000,000 shares authorized, 72,335,705 and 72,024,329 shares issued at September 30, 2021 and December 31, 2020, respectively	724	721
Additional paid-in capital	563,162	525,541
Treasury stock, at cost	(358,634)	(332,164)
Excess purchase price over predecessor basis	(202,116)	(202,116)
Retained earnings	1,834,477	1,432,565
Accumulated other comprehensive loss	(55,541)	(34,254)
Stockholders’ equity attributable to Generac Holdings Inc.	1,782,072	1,390,293
Noncontrolling interests	205	(89)
Total stockholders' equity	1,782,277	1,390,204
Total liabilities and stockholders’ equity	$ 4,100,430	$ 3,235,423

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 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)	72,335,705	72,024,329

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net sales		$ 942,698	$ 701,355	$ 2,670,113	$ 1,724,118
Costs of goods sold		606,704	425,206	1,672,570	1,066,666
Gross profit		335,994	276,149	997,543	657,452
Operating expenses:
Selling and service		82,242	60,901	229,443	178,566
Research and development		27,165	20,658	74,897	58,762
General and administrative		40,802	31,061	115,311	88,732
Amortization of intangibles		12,206	7,892	32,237	23,340
Total operating expenses		162,415	120,512	451,888	349,400
Income from operations		173,579	155,637	545,655	308,052
Other (expense) income:
Interest expense		(7,980)	(8,096)	(23,424)	(25,081)
Investment income		165	301	1,012	1,921
Loss on extinguishment of debt	[1]	0	0	(831)	0
Other, net		(400)	(557)	2,536	(2,687)
Total other expense, net		(8,215)	(8,352)	(20,707)	(25,847)
Income before provision for income taxes		165,364	147,285	524,948	282,205
Provision for income taxes		32,611	32,050	114,341	59,967
Net income		132,753	115,235	410,607	222,238
Net income (loss) attributable to noncontrolling interests		1,183	265	3,008	(3,337)
Net income attributable to Generac Holdings Inc.		$ 131,570	$ 114,970	$ 407,599	$ 225,575
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share)		$ 1.98	$ 1.86	$ 6.42	$ 3.59
Weighted average common shares outstanding - basic: (in shares)		62,690,437	62,353,473	62,583,957	62,244,872
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share)		$ 1.93	$ 1.82	$ 6.27	$ 3.51
Weighted average common shares outstanding - diluted: (in shares)		64,208,116	63,761,380	64,146,281	63,546,132
Comprehensive income attributable to Generac Holdings Inc.		$ 113,727	$ 123,887	$ 386,789	$ 187,548
[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 gain (loss) on interest rate swaps, net of tax										0	0	0	0	0	(18,406)	(18,406)	0	(18,406)
Foreign currency translation adjustment										$ 0	0	$ 0	0	0	(18,716)	(18,716)	(27)	(18,743)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)										344,176		0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price										$ 3	5,417	$ 0	0	0	0	5,420	0	5,420
Net share settlement of restricted stock awards (in shares)										0		(67,721)
Net share settlement of restricted stock awards										$ 0	0	$ (6,962)	0	0	0	(6,962)	0	(6,962)
Share-based compensation										0	14,327	0	0	0	0	14,327	0	14,327
Redemption value adjustment										0	0	0	0	(2,281)	0	(2,281)	0	(2,281)
Net income attributable to Generac Holdings Inc.										$ 0	0	$ 0	0	225,575	0	225,575		225,575
Net income																	(738)
Net income																		224,837
Balance (in shares) at Sep. 30, 2020										72,011,902		(9,170,734)
Balance at Sep. 30, 2020										$ 720	518,610	$ (331,513)	(202,116)	1,306,530	(62,039)	1,230,192	(296)	1,229,896
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
Unrealized gain (loss) on interest rate swaps, net of tax															1,003	1,003		1,003
Foreign currency translation adjustment										$ 0	0	$ 0	0	0	9,484	9,484	(25)	9,459
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)										51,835		0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price										$ 0	1,939	$ 0	0	0	0	1,939	0	1,939
Net share settlement of restricted stock awards (in shares)										0		(572)
Net share settlement of restricted stock awards										$ 0	0	$ (98)	0	0	0	(98)	0	(98)
Share-based compensation										0	4,353	0	0	0	0	4,353	0	4,353
Redemption value adjustment										0	0	0	0	811	0	811	0	811
Net income attributable to Generac Holdings Inc.										$ 0	0	$ 0	0	114,970	0	114,970		114,970
Net income																	184
Net income																		115,154
Balance (in shares) at Sep. 30, 2020										72,011,902		(9,170,734)
Balance at Sep. 30, 2020										$ 720	518,610	$ (331,513)	(202,116)	1,306,530	(62,039)	1,230,192	(296)	1,229,896
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															15,184	15,184		15,184
Foreign currency translation adjustment										$ 0	0	$ 0	0	0	(36,471)	(36,471)	(13)	(36,484)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)										280,736		0
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price										$ 3	7,417	$ 0	0	0	0	7,420	0	7,420
Common stock issued for business combination (in shares)										30,640		0
Common stock issued for business combination										$ 0	12,000	$ 0	0	0	0	12,000	0	12,000
Net share settlement of restricted stock awards (in shares)										0		(78,763)
Net share settlement of restricted stock awards										$ 0	0	$ (26,470)	0	0	0	(26,470)	0	(26,470)
Share-based compensation										0	18,204	0	0	0	0	18,204	0	18,204
Redemption value adjustment										0	0	0	0	(5,687)	0	(5,687)	0	(5,687)
Net income attributable to Generac Holdings Inc.										$ 0	0	$ 0	0	407,599	0	407,599		407,599
Net income																	307
Net income																		407,906
Balance (in shares) at Sep. 30, 2021										72,335,705		(9,252,494)
Balance at Sep. 30, 2021										$ 724	563,162	$ (358,634)	(202,116)	1,834,477	(55,541)	1,782,072	205	1,782,277
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
Unrealized gain (loss) on interest rate swaps, net of tax															2,941	2,941		2,941
Foreign currency translation adjustment															(20,899)	(20,899)	(8)	(20,907)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)										52,085
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price										$ 1	2,486					2,487		2,487
Common stock issued for business combination (in shares)										30,640
Common stock issued for business combination											12,000					12,000		12,000
Net share settlement of restricted stock awards (in shares)												(397)
Net share settlement of restricted stock awards												$ (153)				(153)		(153)
Share-based compensation										$ 0	5,783	0	0	0	0	5,783	0	5,783
Redemption value adjustment										0	0	0	0	(7,557)	0	(7,557)	0	(7,557)
Net income attributable to Generac Holdings Inc.										$ 0	0	$ 0	0	131,570	0	131,570		131,570
Net income																	175
Net income																		131,745
Balance (in shares) at Sep. 30, 2021										72,335,705		(9,252,494)
Balance at Sep. 30, 2021										$ 724	$ 563,162	$ (358,634)	$ (202,116)	$ 1,834,477	$ (55,541)	$ 1,782,072	$ 205	$ 1,782,277

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
AOCI Attributable to Parent [Member]
Unrealized gain (loss) on interest rate swaps, tax	$ 993	$ 339	$ 5,128	$ (6,217)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020
Operating activities
Net income		$ 410,607	$ 222,238
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		30,445	26,747
Amortization of intangible assets		32,237	23,340
Amortization of original issue discount and deferred financing costs		1,941	1,940
Loss on extinguishment of debt	[1]	831	0
Deferred income taxes		8,210	15,433
Share-based compensation expense	[2]	18,204	14,327
Loss (gain) on disposal of assets		(4,018)	0
Other, net		(12)	6,414
Net changes in operating assets and liabilities, net of acquisitions:
Accounts receivable		(116,768)	(85,474)
Inventories		(322,954)	(14,604)
Other assets		(6,874)	2,543
Accounts payable		269,951	11,624
Accrued wages and employee benefits		4,497	11,793
Other accrued liabilities		49,987	38,211
Excess tax benefits from equity awards		(26,880)	(6,222)
Net cash provided by operating activities		349,404	268,310
Investing activities
Proceeds from sale of property and equipment		182	26
Proceeds from sale of investment		4,968	0
Proceeds from beneficial interests in securitization transactions		2,240	1,998
Contribution to equity method investment		(781)	0
Expenditures for property and equipment		(87,456)	(33,940)
Acquisition of businesses, net of cash acquired		(465,926)	(22,815)
Net cash used in investing activities		(546,773)	(54,731)
Financing activities
Proceeds from short-term borrowings		127,816	198,087
Proceeds from long-term borrowings		50,000	297
Repayments of short-term borrowings		(105,206)	(210,854)
Repayments of long-term borrowings and finance lease obligations		(54,889)	(3,584)
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		(49,569)	(13,533)
Proceeds from exercise of stock options		30,502	11,991
Net cash used in financing activities		(33,445)	(21,596)
Effect of exchange rate changes on cash and cash equivalents		(588)	(922)
Net increase (decrease) in cash and cash equivalents		(231,402)	191,061
Cash and cash equivalents at beginning of period		655,128	322,883
Cash and cash equivalents at end of period		$ 423,726	$ 513,944
[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	9 Months Ended
	Sep. 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 ● In July 2021, ● In September 2021, ● In September 2021, 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 September 30, 2021 three nine September 30, 2021 2020 three nine September 30, 2021 2020 nine September 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	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Business Combination Disclosure [Text Block]	2 . Acquisitions Fiscal 2021 Acquisition of Deep Sea On June 1, 2021, The Company recorded its preliminary purchase price allocation during the second 2021, third 2021, not September 30, 2021. not not Acquisition of Off Grid Energy On September 1, 2021, The Company recorded its preliminary purchase price allocation during the third 2021 September 30, 2021. not not Other Acquisitions On July 2, 2021, On September 1, 2021, The combined fair value of the consideration transferred for these acquisitions consisted of the following: Cash at closing $ 18,823 Deferred cash payment 6,000 Common stock issued at closing 12,000 Contingent consideration (1) 23,971 Total purchase price $ 60,794 ( 1 To be paid in the form of common stock issued upon achievement of certain performance targets at the end of the earnout period. The Company recorded its preliminary purchase price allocation during the third 2021 not September 30, 2021. not not Fiscal 2020 Acquisition of Enbala On October 7, 2020, The Company finalized its purchase price allocation during the third 2021 not September 30, 2021. not not Other Acquisitions On July 1, 2020, On September 1, 2020, The combined purchase price for these two two third 2021 not September 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 Acquisitions Deep Sea All Other 2020 Acquisitions Accounts receivable $ 9,574 $ 13,478 $ 5,094 Inventories 9,970 4,522 3,575 Prepaid expenses and other assets 826 1,146 858 Property and equipment 8,838 413 635 Intangible assets 171,437 62,472 26,235 Goodwill 263,287 79,239 40,395 Other assets 3,414 4,750 1,122 Total assets acquired 467,346 166,020 77,914 Accounts payable 8,254 4,066 4,088 Accrued wages and employee benefits 2,106 788 700 Other accrued liabilities 3,641 1,903 2,151 Short-term borrowings - 833 - Current portion of long-term debt - 233 - Deferred income taxes 32,545 13,981 3,827 Long-term debt - 1,672 - Other long-term liabilities 100 5,197 2,208 Net assets acquired $ 420,700 $ 137,347 $ 64,940 The allocations of the purchase price to identifiable assets for the 2021 not 12 may

Note 3 - Redeemable Noncontroll

Note 3 - Redeemable Noncontrolling Interest	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Balance at beginning of period $ 37,245 $ 61,019 $ 66,207 $ 61,227 Net income 1,007 80 2,700 (2,601 ) Foreign currency translation (1,105 ) 3,257 (2,726 ) 2,638 Purchase of additional ownership interest - - (27,164 ) - Redemption value adjustment 7,557 (811 ) 5,687 2,281 Balance at end of period $ 44,704 $ 63,545 $ 44,704 $ 63,545

Note 4 - Derivative Instruments

Note 4 - Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 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 September 30, 2021 December 2019, March 2020, three fifteen September 30, 2021 three nine September 30, 2021 three nine September 30, 2020 Fair Value The following table presents the fair value of all of the Company’s derivatives: September 30, 2021 December 31, 2020 Commodity contracts $ 32 $ 1,386 Foreign currency contracts 23 (154 ) Interest rate swaps (9,224 ) (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 assets, other accrued liabilities and other long-term liabilities in the condensed consolidated balance sheets as of September 30, 2021 December 31, 2020. September 30, 2021 December 31, 2020

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurements	9 Months Ended
	Sep. 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 $767,547, was approximately $782,925 (Level 2 September 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. Contingent Consideration Certain of the Company's business combinations involve potential payment of future consideration that is contingent upon the achievement of certain milestones. As part of purchase accounting, a liability is recorded for the estimated fair value of the contingent consideration on the acquisition date. The fair value of the contingent consideration is remeasured at each reporting period, and the change in fair value is recognized within general and administrative expenses in the Company's condensed consolidated statements of comprehensive income. This fair value measurement of contingent consideration is categorized as a Level 3 not The fair value of contingent consideration as of September 30, 2021 December 31, 2020 The following table provides a reconciliation of the activity for contingent consideration: Beginning balance, January 1, 2021 $ 5,888 Purchase price contingent consideration (1) 68,013 Changes in fair value 55 Payments (3,750 ) Ending balance, September 30, 2021 $ 70,206 ( 1 The increase in the contingent consideration liability is due to the contingent consideration associated with the acquisitions of Chilicon and Off Grid Energy. Refer to Note 2

Note 6 - Accumulated Other Comp

Note 6 - Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 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 nine September 30, 2021 2020 Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – July 1, 2021 $ (27,246 ) $ (10,337 ) $ (37,583 ) Other comprehensive income (loss) before reclassifications (20,899 ) (1) 2,941 (2) (17,958 ) Amounts reclassified from AOCL - - - Net current-period other comprehensive income (loss) (20,899 ) 2,941 (17,958 ) Ending Balance – September 30, 2021 $ (48,145 ) $ (7,396 ) $ (55,541 ) Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – July 1, 2020 $ (44,822 ) $ (27,704 ) $ (72,526 ) Other comprehensive income (loss) before reclassifications 9,484 1,003 (3) 10,487 Amounts reclassified from AOCL - - - Net current-period other comprehensive income (loss) 9,484 1,003 10,487 Ending Balance – September 30, 2020 $ (35,338 ) $ (26,701 ) $ (62,039 ) 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 loss before reclassifications (36,471 ) (4) 15,184 (5) (21,287 ) Amounts reclassified from AOCL - - - Net current-period other comprehensive loss (36,471 ) 15,184 (21,287 ) Ending Balance – September 30, 2021 $ (48,145 ) $ (7,396 ) $ (55,541 ) Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – January 1, 2020 $ (16,622 ) $ (8,295 ) $ (24,917 ) Other comprehensive income (loss) before reclassifications (18,716 ) (6) (18,406 ) (7) (37,122 ) Amounts reclassified from AOCL - - - Net current-period other comprehensive income (loss) (18,716 ) (18,406 ) (37,122 ) Ending Balance – September 30, 2020 $ (35,338 ) $ (26,701 ) $ (62,039 ) ( 1 Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the three September 30, 2021 ( 2 Represents unrealized gains of $3,934 on the interest rate swaps, net of tax effect of $(993) for the three September 30, 2021 ( 3 Represents unrealized gains of $1,342 on the interest rate swaps, net of tax effect of $(339) for the three September 30, 2020 ( 4 Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the nine September 30, 2021 ( 5 Represents unrealized gains of $20,312 on the interest rate swaps, net of tax effect of $(5,128) for the nine September 30, 2021 ( 6 Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the nine September 30, 2020 ( 7 Represents unrealized losses of $(24,623) on the interest rate swaps, net of tax effect of $6,217 for the nine September 30, 2020

Note 7 - Segment Reporting

Note 7 - Segment Reporting	9 Months Ended
	Sep. 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, Deep Sea, and Off Grid Energy acquisitions, all of which have revenues substantially derived from outside the U.S. and Canada. Both reportable segments design, manufacture, and provide 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 September 30, 2021 Product Classes Domestic International Total Residential products $ 585,150 $ 23,666 $ 608,816 Commercial & industrial products 140,824 117,485 258,309 Other 64,790 10,783 75,573 Total net sales $ 790,764 $ 151,934 $ 942,698 Three Months Ended September 30, 2020 Product Classes Domestic International Total Residential products $ 441,532 $ 17,345 $ 458,877 Commercial & industrial products 108,774 67,426 176,200 Other 56,569 9,709 66,278 Total net sales $ 606,875 $ 94,480 $ 701,355 Net Sales by Segment Nine Months Ended September 30, 2021 Product Classes Domestic International Total Residential products $ 1,690,707 $ 60,250 $ 1,750,957 Commercial & industrial products 402,357 312,637 714,994 Other 174,584 29,578 204,162 Total net sales $ 2,267,648 $ 402,465 $ 2,670,113 Nine Months Ended September 30, 2020 Product Classes Domestic International Total Residential products $ 1,013,219 $ 44,629 $ 1,057,848 Commercial & industrial products 294,940 208,216 503,156 Other 135,521 27,593 163,114 Total net sales $ 1,443,680 $ 280,438 $ 1,724,118 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 September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Domestic $ 187,726 $ 171,359 $ 598,730 $ 374,065 International 21,475 7,419 42,344 13,877 Total adjusted EBITDA $ 209,201 $ 178,778 $ 641,074 $ 387,942 Interest expense (7,980 ) (8,096 ) (23,424 ) (25,081 ) Depreciation and amortization (23,216 ) (17,168 ) (62,682 ) (50,087 ) Non-cash write-down and other adjustments (1) (3,333 ) (477 ) (638 ) (1,868 ) Non-cash share-based compensation expense (2) (5,783 ) (4,353 ) (18,204 ) (14,327 ) Loss on extinguishment of debt (3) - - (831 ) - Transaction costs and credit facility fees (4) (3,385 ) (568 ) (9,471 ) (1,160 ) Business optimization and other charges (5) - (531 ) (159 ) (12,503 ) Other (140 ) (300 ) (717 ) (711 ) Income before provision for income taxes $ 165,364 $ 147,285 $ 524,948 $ 282,205 ( 1 Includes gains/losses on disposals of assets and investments, unrealized mark-to-market adjustments on commodity contracts, certain foreign currency related adjustments, and certain purchase accounting 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 three nine September 30, 2021, three nine September 30, 2020, 19 The Company’s sales in the U.S. represented approximately 82% and 84% of total sales for the three September 30, 2021 2020 nine September 30, 2021 2020. September 30, 2021 December 31, 2020

Note 8 - Balance Sheet Details

Note 8 - Balance Sheet Details	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	8 . Balance Sheet Details Inventories consist of the following: September 30, December 31, 2021 2020 Raw material $ 623,592 $ 375,516 Work-in-process 8,808 6,833 Finished goods 302,548 220,968 Total $ 934,948 $ 603,317 Property and equipment consists of the following: September 30, December 31, 2021 2020 Land and improvements $ 22,907 $ 18,363 Buildings and improvements 230,731 198,908 Machinery and equipment 176,585 153,696 Dies and tools 29,014 24,190 Vehicles 6,977 6,037 Office equipment and systems 121,914 107,923 Leasehold improvements 4,231 5,276 Construction in progress 44,603 30,227 Gross property and equipment 636,962 544,620 Accumulated depreciation (224,256 ) (200,684 ) Total $ 412,706 $ 343,936 Total property and equipment included finance leases of $27,243 and $27,269 at September 30, 2021 December 31, 2020

Note 9 - Product Warranty Oblig

Note 9 - Product Warranty Obligations	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Balance at beginning of period $ 74,758 $ 50,324 $ 59,218 $ 49,316 Product warranty reserve assumed in acquisition 1,085 124 1,085 124 Payments (10,475 ) (8,667 ) (29,536 ) (24,136 ) Provision for warranty issued 16,527 10,949 48,521 27,691 Changes in estimates for pre-existing warranties 1,089 (575 ) 3,696 (840 ) Balance at end of period $ 82,984 $ 52,155 $ 82,984 $ 52,155 Additionally, the Company sells extended warranty coverage for certain products, which it accounts for as a service warranty. The sales of extended warranties are recorded as deferred revenue, and typically have a duration of five ten Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Balance at beginning of period $ 100,484 $ 83,153 $ 89,788 $ 78,738 Deferred revenue contracts issued 11,105 6,802 31,304 18,966 Amortization of deferred revenue contracts (5,014 ) (4,241 ) (14,517 ) (11,990 ) Balance at end of period $ 106,575 $ 85,714 $ 106,575 $ 85,714 The timing of recognition of the Company’s deferred revenue balance related to extended warranties at September 30, 2021 Remainder of 2021 $ 5,140 2022 20,809 2023 21,053 2024 17,432 2025 13,661 After 2025 28,480 Total $ 106,575 Standard product warranty obligations and extended warranty related deferred revenues are included in the condensed consolidated balance sheets as follows: September 30, December 31, 2021 2020 Product warranty liability: Current portion - other accrued liabilities $ 51,555 $ 37,417 Long-term portion - other long-term liabilities 31,429 21,801 Total $ 82,984 $ 59,218 Deferred revenue related to extended warranties: Current portion - other accrued liabilities $ 20,090 $ 18,857 Long-term portion - other long-term liabilities 86,485 70,931 Total $ 106,575 $ 89,788

Note 10 - Contract Balances

Note 10 - Contract Balances	9 Months Ended
	Sep. 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 $32,076 and $25,710 at September 30, 2021 December 31, 2020 nine September 30, 2021 December 31, 2020 one

Note 11 - Credit Agreements

Note 11 - Credit Agreements	9 Months Ended
	Sep. 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: September 30, December 31, 2021 2020 ABL Facility $ - $ - Other lines of credit 61,470 39,282 Total $ 61,470 $ 39,282 As of September 30, 2021 December 31, 2020 Long-term borrowings are included in the condensed consolidated balance sheets as follows: September 30, December 31, 2021 2020 Term Loan $ 780,000 $ 830,000 Original issue discount and deferred financing costs (13,863 ) (15,450 ) ABL Facility 50,000 - Finance lease obligation 27,953 27,371 Other 4,281 3,990 Total 848,371 845,911 Less: current portion of debt 1,967 1,836 Less: current portion of finance lease obligation 2,978 2,311 Total $ 843,426 $ 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 September 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, second 2021 September 30, 2021

Note 12 - Stock Repurchase Prog

Note 12 - Stock Repurchase Program	9 Months Ended
	Sep. 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 nine September 30, 2021 2020. August 2015,

Note 13 - Earnings Per Share

Note 13 - Earnings Per Share	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Numerator Net income attributable to Generac Holdings Inc. $ 131,570 $ 114,970 $ 407,599 $ 225,575 Redeemable noncontrolling interest redemption value adjustment (7,557 ) 811 (5,687 ) (2,281 ) Net income attributable to common shareholders $ 124,013 $ 115,781 $ 401,912 $ 223,294 Denominator Weighted average shares, basic 62,690,437 62,353,473 62,583,957 62,244,872 Dilutive effect of stock compensation awards (1) 1,517,680 1,407,907 1,562,325 1,301,260 Diluted shares 64,208,116 63,761,380 64,146,281 63,546,132 Net income attributable to common shareholders per share Basic $ 1.98 $ 1.86 $ 6.42 $ 3.59 Diluted $ 1.93 $ 1.82 $ 6.27 $ 3.51 ( 1 no three nine September 30, 2021 2020.

Note 14 - Income Taxes

Note 14 - Income Taxes	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	14 . Income Taxes The effective income tax rates for the nine September 30, 2021 2020

Note 15 - Commitments and Conti

Note 15 - Commitments and Contingencies	9 Months Ended
	Sep. 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 September 30, 2021 December 31, 2020 From time to time, we are involved in legal proceedings primarily involving product liability, regulatory, and employment matters, as well as general commercial disputes arising in the ordinary course of our business. As of September 30, 2021, no Federal Securities Law Class Actions On August 20, 2021 August 31, 2021, Khami v. Generac Holdings Inc., et al., No. 2:21 06777, Procter v. Generac Holdings Inc., et al., No. 2:21 07009. October 19, 2021, 10 20 1934, 10b 5. not

Note 16 - Subsequent Event

Note 16 - Subsequent Event	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	16. Agreement to acquire ecobee Inc. On November 1, 2021, June 30, 2022 June 30, 2023. fourth 2021, Acquisition of Tank Utility, In On October 1, 2021,

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 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)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Consideration Transferred for Business Acquisitions [Table Text Block]	Cash at closing $ 18,823 Deferred cash payment 6,000 Common stock issued at closing 12,000 Contingent consideration (1) 23,971 Total purchase price $ 60,794
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	2021 Acquisitions Deep Sea All Other 2020 Acquisitions Accounts receivable $ 9,574 $ 13,478 $ 5,094 Inventories 9,970 4,522 3,575 Prepaid expenses and other assets 826 1,146 858 Property and equipment 8,838 413 635 Intangible assets 171,437 62,472 26,235 Goodwill 263,287 79,239 40,395 Other assets 3,414 4,750 1,122 Total assets acquired 467,346 166,020 77,914 Accounts payable 8,254 4,066 4,088 Accrued wages and employee benefits 2,106 788 700 Other accrued liabilities 3,641 1,903 2,151 Short-term borrowings - 833 - Current portion of long-term debt - 233 - Deferred income taxes 32,545 13,981 3,827 Long-term debt - 1,672 - Other long-term liabilities 100 5,197 2,208 Net assets acquired $ 420,700 $ 137,347 $ 64,940

Note 3 - Redeemable Noncontro_2

Note 3 - Redeemable Noncontrolling Interest (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Redeemable Noncontrolling Interest [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Balance at beginning of period $ 37,245 $ 61,019 $ 66,207 $ 61,227 Net income 1,007 80 2,700 (2,601 ) Foreign currency translation (1,105 ) 3,257 (2,726 ) 2,638 Purchase of additional ownership interest - - (27,164 ) - Redemption value adjustment 7,557 (811 ) 5,687 2,281 Balance at end of period $ 44,704 $ 63,545 $ 44,704 $ 63,545

Note 4 - Derivative Instrumen_2

Note 4 - Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule Of Derivative Assets (Liabilities) at Fair Value [Table Text Block]	September 30, 2021 December 31, 2020 Commodity contracts $ 32 $ 1,386 Foreign currency contracts 23 (154 ) Interest rate swaps (9,224 ) (29,536 )

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]	Beginning balance, January 1, 2021 $ 5,888 Purchase price contingent consideration (1) 68,013 Changes in fair value 55 Payments (3,750 ) Ending balance, September 30, 2021 $ 70,206

Note 6 - Accumulated Other Co_2

Note 6 - Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 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 – July 1, 2021 $ (27,246 ) $ (10,337 ) $ (37,583 ) Other comprehensive income (loss) before reclassifications (20,899 ) (1) 2,941 (2) (17,958 ) Amounts reclassified from AOCL - - - Net current-period other comprehensive income (loss) (20,899 ) 2,941 (17,958 ) Ending Balance – September 30, 2021 $ (48,145 ) $ (7,396 ) $ (55,541 ) Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – July 1, 2020 $ (44,822 ) $ (27,704 ) $ (72,526 ) Other comprehensive income (loss) before reclassifications 9,484 1,003 (3) 10,487 Amounts reclassified from AOCL - - - Net current-period other comprehensive income (loss) 9,484 1,003 10,487 Ending Balance – September 30, 2020 $ (35,338 ) $ (26,701 ) $ (62,039 ) 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 loss before reclassifications (36,471 ) (4) 15,184 (5) (21,287 ) Amounts reclassified from AOCL - - - Net current-period other comprehensive loss (36,471 ) 15,184 (21,287 ) Ending Balance – September 30, 2021 $ (48,145 ) $ (7,396 ) $ (55,541 ) Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – January 1, 2020 $ (16,622 ) $ (8,295 ) $ (24,917 ) Other comprehensive income (loss) before reclassifications (18,716 ) (6) (18,406 ) (7) (37,122 ) Amounts reclassified from AOCL - - - Net current-period other comprehensive income (loss) (18,716 ) (18,406 ) (37,122 ) Ending Balance – September 30, 2020 $ (35,338 ) $ (26,701 ) $ (62,039 )

Note 7 - Segment Reporting (Tab

Note 7 - Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Disaggregation of Revenue [Table Text Block]	Net Sales by Segment Three Months Ended September 30, 2021 Product Classes Domestic International Total Residential products $ 585,150 $ 23,666 $ 608,816 Commercial & industrial products 140,824 117,485 258,309 Other 64,790 10,783 75,573 Total net sales $ 790,764 $ 151,934 $ 942,698 Three Months Ended September 30, 2020 Product Classes Domestic International Total Residential products $ 441,532 $ 17,345 $ 458,877 Commercial & industrial products 108,774 67,426 176,200 Other 56,569 9,709 66,278 Total net sales $ 606,875 $ 94,480 $ 701,355 Net Sales by Segment Nine Months Ended September 30, 2021 Product Classes Domestic International Total Residential products $ 1,690,707 $ 60,250 $ 1,750,957 Commercial & industrial products 402,357 312,637 714,994 Other 174,584 29,578 204,162 Total net sales $ 2,267,648 $ 402,465 $ 2,670,113 Nine Months Ended September 30, 2020 Product Classes Domestic International Total Residential products $ 1,013,219 $ 44,629 $ 1,057,848 Commercial & industrial products 294,940 208,216 503,156 Other 135,521 27,593 163,114 Total net sales $ 1,443,680 $ 280,438 $ 1,724,118
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Adjusted EBITDA Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Domestic $ 187,726 $ 171,359 $ 598,730 $ 374,065 International 21,475 7,419 42,344 13,877 Total adjusted EBITDA $ 209,201 $ 178,778 $ 641,074 $ 387,942 Interest expense (7,980 ) (8,096 ) (23,424 ) (25,081 ) Depreciation and amortization (23,216 ) (17,168 ) (62,682 ) (50,087 ) Non-cash write-down and other adjustments (1) (3,333 ) (477 ) (638 ) (1,868 ) Non-cash share-based compensation expense (2) (5,783 ) (4,353 ) (18,204 ) (14,327 ) Loss on extinguishment of debt (3) - - (831 ) - Transaction costs and credit facility fees (4) (3,385 ) (568 ) (9,471 ) (1,160 ) Business optimization and other charges (5) - (531 ) (159 ) (12,503 ) Other (140 ) (300 ) (717 ) (711 ) Income before provision for income taxes $ 165,364 $ 147,285 $ 524,948 $ 282,205

Note 8 - Balance Sheet Details

Note 8 - Balance Sheet Details (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, December 31, 2021 2020 Raw material $ 623,592 $ 375,516 Work-in-process 8,808 6,833 Finished goods 302,548 220,968 Total $ 934,948 $ 603,317
Property, Plant and Equipment [Table Text Block]	September 30, December 31, 2021 2020 Land and improvements $ 22,907 $ 18,363 Buildings and improvements 230,731 198,908 Machinery and equipment 176,585 153,696 Dies and tools 29,014 24,190 Vehicles 6,977 6,037 Office equipment and systems 121,914 107,923 Leasehold improvements 4,231 5,276 Construction in progress 44,603 30,227 Gross property and equipment 636,962 544,620 Accumulated depreciation (224,256 ) (200,684 ) Total $ 412,706 $ 343,936

Note 9 - Product Warranty Obl_2

Note 9 - Product Warranty Obligations (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Balance at beginning of period $ 74,758 $ 50,324 $ 59,218 $ 49,316 Product warranty reserve assumed in acquisition 1,085 124 1,085 124 Payments (10,475 ) (8,667 ) (29,536 ) (24,136 ) Provision for warranty issued 16,527 10,949 48,521 27,691 Changes in estimates for pre-existing warranties 1,089 (575 ) 3,696 (840 ) Balance at end of period $ 82,984 $ 52,155 $ 82,984 $ 52,155 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Balance at beginning of period $ 100,484 $ 83,153 $ 89,788 $ 78,738 Deferred revenue contracts issued 11,105 6,802 31,304 18,966 Amortization of deferred revenue contracts (5,014 ) (4,241 ) (14,517 ) (11,990 ) Balance at end of period $ 106,575 $ 85,714 $ 106,575 $ 85,714
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]	Remainder of 2021 $ 5,140 2022 20,809 2023 21,053 2024 17,432 2025 13,661 After 2025 28,480 Total $ 106,575
Product Warranty Obligations Included In Consolidated Balance Sheet [Table Text Block]	September 30, December 31, 2021 2020 Product warranty liability: Current portion - other accrued liabilities $ 51,555 $ 37,417 Long-term portion - other long-term liabilities 31,429 21,801 Total $ 82,984 $ 59,218 Deferred revenue related to extended warranties: Current portion - other accrued liabilities $ 20,090 $ 18,857 Long-term portion - other long-term liabilities 86,485 70,931 Total $ 106,575 $ 89,788

Note 11 - Credit Agreements (Ta

Note 11 - Credit Agreements (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Short-term Debt [Table Text Block]	September 30, December 31, 2021 2020 ABL Facility $ - $ - Other lines of credit 61,470 39,282 Total $ 61,470 $ 39,282
Schedule of Long-term Debt Instruments [Table Text Block]	September 30, December 31, 2021 2020 Term Loan $ 780,000 $ 830,000 Original issue discount and deferred financing costs (13,863 ) (15,450 ) ABL Facility 50,000 - Finance lease obligation 27,953 27,371 Other 4,281 3,990 Total 848,371 845,911 Less: current portion of debt 1,967 1,836 Less: current portion of finance lease obligation 2,978 2,311 Total $ 843,426 $ 841,764

Note 13 - Earnings Per Share (T

Note 13 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Numerator Net income attributable to Generac Holdings Inc. $ 131,570 $ 114,970 $ 407,599 $ 225,575 Redeemable noncontrolling interest redemption value adjustment (7,557 ) 811 (5,687 ) (2,281 ) Net income attributable to common shareholders $ 124,013 $ 115,781 $ 401,912 $ 223,294 Denominator Weighted average shares, basic 62,690,437 62,353,473 62,583,957 62,244,872 Dilutive effect of stock compensation awards (1) 1,517,680 1,407,907 1,562,325 1,301,260 Diluted shares 64,208,116 63,761,380 64,146,281 63,546,132 Net income attributable to common shareholders per share Basic $ 1.98 $ 1.86 $ 6.42 $ 3.59 Diluted $ 1.93 $ 1.82 $ 6.27 $ 3.51

Note 2 - Acquisitions (Details

Note 2 - Acquisitions (Details Textual) - USD ($) $ in Thousands	Sep. 01, 2021	Jun. 01, 2021	Oct. 07, 2020	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Payments to Acquire Businesses, Net of Cash Acquired, Total					$ 465,926	$ 22,815
Goodwill, Ending Balance					1,174,315		$ 855,228
Business Combination, Contingent Consideration, Liability, Total					70,206		$ 5,888
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		434,724
Goodwill, Ending Balance		$ 263,287			$ 263,287
Acquisition of Off Grid Energy [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total	$ 76,553
Business Acquisition, Purchase Price Allocation, Intangible Assets Including Goodwill	71,935
Goodwill, Ending Balance	48,263
Business Combination, Contingent Consideration, Liability, Total	44,042
Other 2021 Acquisitions [Member]
Business Acquisition, Purchase Price Allocation, Intangible Assets Including Goodwill	69,776
Goodwill, Ending Balance	$ 30,976
Acquisition of Enbala [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total			$ 41,982
Business Acquisition, Purchase Price Allocation, Intangible Assets Including Goodwill			46,338
Goodwill, Ending Balance			$ 27,038
Other 2020 Acquisitions [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total				$ 22,958

Note 2 - Acquisitions - The Com

Note 2 - Acquisitions - The Combined Fair Value of the Consideration Transferred for These Acquisitions (Details) - Acquisition of Chilicon and Apricity Code [Member] $ in Thousands	3 Months Ended
	Sep. 30, 2021USD ($)
Cash at closing	$ 18,823
Deferred cash payment	6,000
Common stock issued at closing	12,000
Contingent consideration (1)	23,971	[1]
Total purchase price	$ 60,794
[1]	To be paid in the form of common stock issued upon achievement of certain performance targets at the end of the earnout period.

Note 2 - Acquisitions - Prelimi

Note 2 - Acquisitions - Preliminary Price Allocation (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 01, 2021	Dec. 31, 2020
Goodwill	$ 1,174,315		$ 855,228
Acquisition of Deep Sea [Member]
Accounts receivable	9,574
Inventories	9,970
Prepaid expenses and other assets	826
Property and equipment	8,838
Intangible assets	171,437
Goodwill	263,287	$ 263,287
Other assets	3,414
Total assets acquired	467,346
Accounts payable	8,254
Accrued wages and employee benefits	2,106
Other accrued liabilities	3,641
Short-term borrowings	0
Current portion of long-term debt	0
Deferred income taxes	32,545
Long-term debt	0
Other long-term liabilities	100
Net assets acquired	420,700
All Other 2021 Acquisitions [Member]
Accounts receivable	13,478
Inventories	4,522
Prepaid expenses and other assets	1,146
Property and equipment	413
Intangible assets	62,472
Goodwill	79,239
Other assets	4,750
Total assets acquired	166,020
Accounts payable	4,066
Accrued wages and employee benefits	788
Other accrued liabilities	1,903
Short-term borrowings	833
Current portion of long-term debt	233
Deferred income taxes	13,981
Long-term debt	1,672
Other long-term liabilities	5,197
Net assets acquired	$ 137,347
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			40,395
Other assets			1,122
Total assets acquired			77,914
Accounts payable			4,088
Accrued wages and employee benefits			700
Other accrued liabilities			2,151
Short-term borrowings			0
Current portion of long-term debt			0
Deferred income taxes			3,827
Long-term debt			0
Other long-term liabilities			2,208
Net assets acquired			$ 64,940

Note 3 - Redeemable Noncontro_3

Note 3 - Redeemable Noncontrolling Interest (Details Textual) - USD ($) $ in Thousands	Feb. 01, 2019	May 31, 2021	Feb. 28, 2019	Sep. 30, 2021	Sep. 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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Redemption value adjustment	$ (7,557)	$ 811	$ (5,687)	$ (2,281)
Redeemable Noncontrolling Interest [Member]
Balance	37,245	61,019	66,207	61,227
Net income	1,007	80	2,700	(2,601)
Foreign currency translation	(1,105)	3,257	(2,726)	2,638
Purchase of additional ownership interest	0	0	(27,164)	0
Redemption value adjustment	7,557	(811)	5,687	2,281
Balance	$ 44,704	$ 63,545	$ 44,704	$ 63,545

Note 4 - Derivative Instrumen_3

Note 4 - Derivative Instruments and Hedging Activities (Details Textual) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2020	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2017	Dec. 31, 2020USD ($)
Derivative, Number of Instruments Held, Total		0		0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Total		$ 2,941	$ 1,003	$ 15,184	$ (18,406)
Derivative Assets (Liabilities), Net Fair Value of Derivative Contracts, Excluding Impact of Credit Risk		$ (9,383)		$ (9,383)			$ (28,667)
Interest Rate Swap [Member]
Number of New Contracts Entered	3					20
Derivative, Number of Instruments Outstanding		15		15
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Total		$ 2,941	$ 1,003	$ 15,184	$ (18,406)

Note 4 - Derivative Instrumen_4

Note 4 - Derivative Instruments and Hedging Activities - Fair Value of Derivatives (Details) - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Commodity Contract [Member]
Fair Value of Derivatives	$ 32	$ 1,386
Foreign Exchange Contract [Member]
Fair Value of Derivatives	23	(154)
Interest Rate Swap [Member]
Fair Value of Derivatives	$ (9,224)	$ (29,536)

Note 5 - Fair Value Measureme_3

Note 5 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Long-term Debt, Total	$ 767,547
Long-term Debt, Fair Value	782,925
Business Combination, Contingent Consideration, Liability, Total	$ 70,206	$ 5,888

Note 5 - Fair Value Measureme_4

Note 5 - Fair Value Measurements - Reconciliation of Contingent Consideration (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020
Beginning balance, January 1, 2021		$ 5,888
Payments		(3,750)	$ (4,000)
Ending balance, September 30, 2021		70,206
Contingent Consideration Liability [Member]
Beginning balance, January 1, 2021		5,888
Purchase price contingent consideration (1)	[1]	68,013
Changes in fair value		55
Payments		(3,750)
Ending balance, September 30, 2021		$ 70,206
[1]	The increase in the contingent consideration liability is due to the contingent consideration associated with the acquisitions of Chilicon and Off Grid Energy. Refer to Note 2 for further information.

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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Other Comprehensive Income (Loss), before Reclassifications, before Tax	$ 3,934	$ 1,342	$ (20,312)	$ (24,623)
Other Comprehensive Income (Loss) before Reclassifications, Tax, Total	$ (993)	$ (339)	$ (5,128)	$ 6,217

Note 6 - Accumulated Other Co_4

Note 6 - Accumulated Other Comprehensive Loss - Disclosure of Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2021		Sep. 30, 2020		Sep. 30, 2021		Sep. 30, 2020
Balance	$ 1,655,938		$ 1,097,275		$ 1,390,204		$ 1,032,851
Balance	1,782,277		1,229,896		1,782,277		1,229,896
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(27,246)		(44,822)		(11,674)		(16,622)
Other comprehensive income (loss) before reclassifications	(20,899)	[1]	9,484		(36,471)	[2]	(18,716)	[3]
Amounts reclassified from AOCL							0
Net current-period other comprehensive income (loss)	(20,899)		9,484		(36,471)		(18,716)
Balance	(48,145)		(35,338)		(48,145)		(35,338)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Balance	(10,337)		(27,704)		(22,580)		(8,295)
Other comprehensive income (loss) before reclassifications	2,941	[4]	1,003	[5]	15,184	[6]	(18,406)	[7]
Amounts reclassified from AOCL							0
Net current-period other comprehensive income (loss)	2,941		1,003		15,184		(18,406)
Balance	(7,396)		(26,701)		(7,396)		(26,701)
AOCI Attributable to Parent [Member]
Balance	(37,583)		(72,526)		(34,254)		(24,917)
Other comprehensive income (loss) before reclassifications	(17,958)		10,487		(21,287)		(37,122)
Amounts reclassified from AOCL	0						0
Net current-period other comprehensive income (loss)	(17,958)		10,487		(21,287)		(37,122)
Balance	$ (55,541)		$ (62,039)		$ (55,541)		$ (62,039)
[1]	Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the three months ended September 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 nine months ended September 30, 2021, particularly the Euro and British Pound.
[3]	Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the nine months ended September 30, 2020, particularly the Mexican Peso, Euro, Brazilian Real, and Russian Ruble.
[4]	Represents unrealized gains of $3,934 on the interest rate swaps, net of tax effect of $(993) for the three months ended September 30, 2021.
[5]	Represents unrealized gains of $1,342 on the interest rate swaps, net of tax effect of $(339) for the three months ended September 30, 2020.
[6]	Represents unrealized gains of $20,312 on the interest rate swaps, net of tax effect of $(5,128) for the nine months ended September 30, 2021.
[7]	Represents unrealized losses of $(24,623) on the interest rate swaps, net of tax effect of $6,217 for the nine months ended September 30, 2020.

Note 7 - Segment Reporting (Det

Note 7 - Segment Reporting (Details Textual)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Number of Reportable Segments			2
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | UNITED STATES
Concentration Risk, Percentage	82.00%	84.00%	82.00%	82.00%
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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net sales	$ 942,698	$ 701,355	$ 2,670,113	$ 1,724,118
Domestic [Member]
Net sales	790,764	606,875	2,267,648	1,443,680
International [Member]
Net sales	151,934	94,480	402,465	280,438
Residential Power Products [Member]
Net sales	608,816	458,877	1,750,957	1,057,848
Residential Power Products [Member] | Domestic [Member]
Net sales	585,150	441,532	1,690,707	1,013,219
Residential Power Products [Member] | International [Member]
Net sales	23,666	17,345	60,250	44,629
Commercial and Industrial Power Products [Member]
Net sales	258,309	176,200	714,994	503,156
Commercial and Industrial Power Products [Member] | Domestic [Member]
Net sales	140,824	108,774	402,357	294,940
Commercial and Industrial Power Products [Member] | International [Member]
Net sales	117,485	67,426	312,637	208,216
Other Products and Services [Member]
Net sales	75,573	66,278	204,162	163,114
Other Products and Services [Member] | Domestic [Member]
Net sales	64,790	56,569	174,584	135,521
Other Products and Services [Member] | International [Member]
Net sales	$ 10,783	$ 9,709	$ 29,578	$ 27,593

Note 7 - Segment Reporting - Se

Note 7 - Segment Reporting - Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Total adjusted EBITDA		$ 209,201	$ 178,778	$ 641,074	$ 387,942
Interest expense		(7,980)	(8,096)	(23,424)	(25,081)
Depreciation and amortization		(23,216)	(17,168)	(62,682)	(50,087)
Non-cash write-down and other adjustments	[1]	(3,333)	(477)	(638)	(1,868)
Non-cash share-based compensation expense	[2]	(5,783)	(4,353)	(18,204)	(14,327)
Loss on extinguishment of debt	[3]	0	0	(831)	0
Transaction costs and credit facility fees	[4]	(3,385)	(568)	(9,471)	(1,160)
Business optimization and other charges	[5]	0	(531)	(159)	(12,503)
Other		(140)	(300)	(717)	(711)
Income before provision for income taxes		165,364	147,285	524,948	282,205
Domestic [Member]
Total adjusted EBITDA		187,726	171,359	598,730	374,065
International [Member]
Total adjusted EBITDA		$ 21,475	$ 7,419	$ 42,344	$ 13,877
[1]	Includes gains/losses on disposals of assets and investments, unrealized mark-to-market adjustments on commodity contracts, certain foreign currency related adjustments, and certain purchase accounting 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 nine months ended September 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	Sep. 30, 2021	Dec. 31, 2020
Finance Lease, Right-of-Use Asset, after Accumulated Amortization, Total	$ 27,243	$ 27,269

Note 8 - Balance Sheet Detail_3

Note 8 - Balance Sheet Details - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Raw material	$ 623,592	$ 375,516
Work-in-process	8,808	6,833
Finished goods	302,548	220,968
Total	$ 934,948	$ 603,317

Note 8 - Balance Sheet Detail_4

Note 8 - Balance Sheet Details - Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Property and equipment, gross	$ 636,962	$ 544,620
Accumulated depreciation	(224,256)	(200,684)
Total	412,706	343,936
Land and Land Improvements [Member]
Property and equipment, gross	22,907	18,363
Building and Building Improvements [Member]
Property and equipment, gross	230,731	198,908
Machinery and Equipment [Member]
Property and equipment, gross	176,585	153,696
Dies and Tools [Member]
Property and equipment, gross	29,014	24,190
Vehicles [Member]
Property and equipment, gross	6,977	6,037
Office Equipment [Member]
Property and equipment, gross	121,914	107,923
Leasehold Improvements [Member]
Property and equipment, gross	4,231	5,276
Construction in Progress [Member]
Property and equipment, gross	$ 44,603	$ 30,227

Note 9 - Product Warranty Obl_3

Note 9 - Product Warranty Obligations (Details Textual)	9 Months Ended
	Sep. 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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Balance at beginning of period	$ 74,758	$ 50,324	$ 59,218	$ 49,316
Product warranty reserve assumed in acquisition	1,085	124	1,085	124
Payments	(10,475)	(8,667)	(29,536)	(24,136)
Provision for warranty issued	16,527	10,949	48,521	27,691
Changes in estimates for pre-existing warranties	1,089	(575)	3,696	(840)
Balance at end of period	82,984	52,155	82,984	52,155
Balance at beginning of period	100,484	83,153	89,788	78,738
Deferred revenue contracts issued	11,105	6,802	31,304	18,966
Amortization of deferred revenue contracts	(5,014)	(4,241)	(14,517)	(11,990)
Balance at end of period	$ 106,575	$ 85,714	$ 106,575	$ 85,714

Note 9 - Product Warranty Obl_5

Note 9 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties (Details) $ in Thousands	Sep. 30, 2021USD ($)
Revenue performance obligation	$ 106,575

Note 9 - Product Warranty Obl_6

Note 9 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties 2 (Details) $ in Thousands	Sep. 30, 2021USD ($)
Revenue performance obligation	$ 106,575
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue performance obligation	5,140
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue performance obligation	20,809
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue performance obligation	21,053
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue performance obligation	17,432
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue performance obligation	13,661
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue performance obligation	$ 28,480

Note 9 - Product Warranty Obl_7

Note 9 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties (Details) (Parentheticals)	Sep. 30, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue performance period (Year)	3 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	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Current portion - other accrued liabilities	$ 51,555		$ 37,417
Long-term portion - other long-term liabilities	31,429		21,801
Total	82,984	$ 74,758	59,218	$ 52,155	$ 50,324	$ 49,316
Current portion - other accrued liabilities	20,090		18,857
Long-term portion - other long-term liabilities	86,485		70,931
Total	$ 106,575	$ 100,484	$ 89,788	$ 85,714	$ 83,153	$ 78,738

Note 10 - Contract Balances (De

Note 10 - Contract Balances (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Contract with Customer, Liability, Current	$ 32,076	$ 25,710
Contract with Customer, Liability, Revenue Recognized	$ 24,096

Note 11 - Credit Agreements (De

Note 11 - Credit Agreements (Details Textual) - USD ($) $ in Thousands		May 31, 2013	May 31, 2021	May 31, 2015	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	May 01, 2021
Gain (Loss) on Extinguishment of Debt, Total	[1]				$ 0		$ 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					449,302			449,302
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								0.77
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	Sep. 30, 2021	Dec. 31, 2020
Short-term Borrowings	$ 61,470	$ 39,282
ABL Revolving Credit Facility [Member]
Short-term Borrowings	0	0
Other Lines of Credit [Member]
Short-term Borrowings	$ 61,470	$ 39,282

Note 11 - Credit Agreements - L

Note 11 - Credit Agreements - Long-term Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Term Loan	$ 780,000	$ 830,000
Original issue discount and deferred financing costs	(13,863)	(15,450)
ABL Facility	50,000	0
Finance lease obligation	27,953	27,371
Other	4,281	3,990
Total	848,371	845,911
Less: current portion of debt	1,967	1,836
Less: current portion of finance lease obligation	2,978	2,311
Total	$ 843,426	$ 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		9 Months Ended		74 Months Ended
	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2018
Stock Repurchase Program, Authorized Amount	$ 250,000		$ 250,000		$ 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 shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0	0	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		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net income attributable to Generac Holdings Inc.		$ 131,570	$ 114,970	$ 407,599	$ 225,575
Redeemable noncontrolling interest redemption value adjustment		(7,557)	811	(5,687)	(2,281)
Net income attributable to common shareholders		$ 124,013	$ 115,781	$ 401,912	$ 223,294
Weighted average shares, basic (in shares)		62,690,437	62,353,473	62,583,957	62,244,872
Dilutive effect of stock compensation awards (in shares)	[1]	1,517,680	1,407,907	1,562,325	1,301,260
Diluted shares (in shares)		64,208,116	63,761,380	64,146,281	63,546,132
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share)		$ 1.98	$ 1.86	$ 6.42	$ 3.59
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share)		$ 1.93	$ 1.82	$ 6.27	$ 3.51
[1]	There were no awards with an anti-dilutive impact for the three and nine months ended September 30, 2021 and 2020.

Note 14 - Income Taxes (Details

Note 14 - Income Taxes (Details Textual)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Effective Income Tax Rate Reconciliation, Percent, Total	21.80%	21.30%

Note 15 - Commitments and Con_2

Note 15 - Commitments and Contingencies (Details Textual) $ in Millions	1 Months Ended
	Aug. 31, 2021	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Amount Financed by Dealers		$ 97	$ 55.6
Case No. 2:21-cv- 06777 and Case No. 2:21-cv- 07009 [Member]
Loss Contingency, New Claims Filed, Number	2

Note 16 - Subsequent Event (Det

Note 16 - Subsequent Event (Details Textual) - Forecast [Member] - ecobee Inc. [Member] $ in Millions	3 Months Ended
	Dec. 30, 2021USD ($)
Business Combination, Consideration Transferred, Total	$ 770
Payments to Acquire Businesses, Gross	200
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	450
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 120