Generac (GNRC) 10-Q 7 Nov 23 2023 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 01, 2023
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	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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		61,431,577

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 161,525	$ 132,723
Accounts receivable, less allowance for credit losses of $29,580 and $27,664 at September 30, 2023 and December 31, 2022, respectively	589,226	522,458
Inventories	1,311,129	1,405,384
Prepaid expenses and other current assets	105,169	121,783
Total current assets	2,167,049	2,182,348
Property and equipment, net	511,893	467,604
Customer lists, net	188,513	206,987
Patents and technology, net	426,552	454,757
Other intangible assets, net	30,317	41,719
Tradenames, net	219,012	227,251
Goodwill	1,417,564	1,400,880
Deferred income taxes	17,140	12,746
Operating lease and other non-current assets	188,301	175,170
Total assets	5,166,341	5,169,462
Current liabilities:
Short-term borrowings	74,346	48,990
Accounts payable	394,168	446,050
Accrued wages and employee benefits	56,454	45,741
Accrued product warranty	70,572	89,141
Other accrued liabilities	267,217	349,389
Current portion of long-term borrowings and finance lease obligations	37,337	12,733
Total current liabilities	900,094	992,044
Long-term borrowings and finance lease obligations	1,465,141	1,369,085
Deferred income taxes	113,390	125,691
Deferred revenue	160,264	143,726
Operating lease and other long-term liabilities	155,326	169,190
Total liabilities	2,794,215	2,799,736
Redeemable noncontrolling interests	5,639	110,471
Stockholders’ equity:
Common stock, par value $0.01, 500,000,000 shares authorized, 73,108,913 and 72,701,257 shares issued at September 30, 2023 and December 31, 2022, respectively	732	728
Additional paid-in capital	1,064,418	1,016,138
Treasury stock, at cost, 11,739,423 and 11,284,350 shares at September 30, 2023 and December 31, 2022, respectively	(880,858)	(808,491)
Excess purchase price over predecessor basis	(202,116)	(202,116)
Retained earnings	2,423,346	2,316,224
Accumulated other comprehensive loss	(41,614)	(65,102)
Stockholders’ equity attributable to Generac Holdings Inc.	2,363,908	2,257,381
Noncontrolling interests	2,579	1,874
Total stockholders' equity	2,366,487	2,259,255
Total liabilities and stockholders’ equity	$ 5,166,341	$ 5,169,462

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Allowance for credit losses	$ 29,580	$ 27,664
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)	73,108,913	72,701,257
Treasury stock, shares (in shares)	11,739,423	11,284,350

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net sales		$ 1,070,667	$ 1,088,258	$ 2,958,997	$ 3,515,505
Costs of goods sold		694,880	727,154	1,982,290	2,336,668
Gross profit		375,787	361,104	976,707	1,178,837
Operating expenses:
Selling and service		117,929	170,381	334,360	388,690
Research and development		43,312	39,985	129,074	121,328
General and administrative		83,052	37,464	199,108	132,036
Amortization of intangibles		26,718	25,751	78,934	77,681
Total operating expenses		271,011	273,581	741,476	719,735
Income from operations		104,776	87,523	235,231	459,102
Other (expense) income:
Interest expense		(24,707)	(15,514)	(72,862)	(35,303)
Investment income		1,160	451	2,789	620
Loss on extinguishment of debt	[1]	0	0	0	(3,743)
Other, net		(1,167)	(420)	(1,664)	331
Total other expense, net		(24,714)	(15,483)	(71,737)	(38,095)
Income before provision for income taxes		80,062	72,040	163,494	421,007
Provision for income taxes		19,428	11,594	43,184	86,028
Net income		60,634	60,446	120,310	334,979
Net income attributable to noncontrolling interests		257	2,176	2,305	6,492
Net income attributable to Generac Holdings Inc.		$ 60,377	$ 58,270	$ 118,005	$ 328,487
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share)		$ 0.98	$ 0.84	$ 1.74	$ 4.69
Weighted average common shares outstanding - basic: (in shares)		61,368,440	63,249,881	61,552,949	63,480,161
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share)		$ 0.97	$ 0.83	$ 1.72	$ 4.61
Weighted average common shares outstanding - diluted: (in shares)		62,091,163	64,267,638	62,362,743	64,630,346
Comprehensive income attributable to Generac Holdings Inc.		$ 37,041	$ 21,683	$ 141,463	$ 264,912
[1]Represents the write-off of original issue discount and capitalized debt issuance costs due to voluntary debt prepayment.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock, Common [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, 2021	72,386,017		(8,667,031)
Balance at Dec. 31, 2021	$ 725	$ 952,939	$ (448,976)	$ (202,116)	$ 1,965,957	$ (54,755)	$ 2,213,774	$ 313	$ 2,214,087
Unrealized gain (loss) on interest rate swaps, net of tax						39,614	39,614		39,614
Foreign currency translation adjustment						(105,265)	(105,265)	(470)	(105,735)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)	253,984
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price	$ 3	(361)					(358)		(358)
Net share settlement of restricted stock awards			$ (26,428)				(26,428)		(26,428)
Net share settlement of restricted stock awards (in shares)			(88,875)
Stock repurchases (in shares)			(536,633)
Stock repurchases			$ (123,900)				(123,900)		(123,900)
Share-based compensation		23,423					23,423		23,423
Redemption value adjustment					(30,817)		(30,817)		(30,817)
Net income attributable to Generac Holdings Inc.					328,487		328,487		328,487
Net income								1,232
Net income									329,719
Balance (in shares) at Sep. 30, 2022	72,640,001		(9,292,539)
Balance at Sep. 30, 2022	$ 728	976,001	$ (599,304)	(202,116)	2,263,627	(120,406)	2,318,530	1,075	2,319,605
Balance (in shares) at Jun. 30, 2022	72,588,588		(8,755,451)
Balance at Jun. 30, 2022	$ 727	967,819	$ (475,294)	(202,116)	2,210,582	(82,839)	2,418,879	883	2,419,762
Unrealized gain (loss) on interest rate swaps, net of tax						13,757	13,757		13,757
Foreign currency translation adjustment						(51,324)	(51,324)	(396)	(51,720)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)	51,413
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price	$ 1	1,321					1,322		1,322
Net share settlement of restricted stock awards			$ (110)				(110)		(110)
Net share settlement of restricted stock awards (in shares)			(455)
Stock repurchases (in shares)			(536,633)
Stock repurchases			$ (123,900)				(123,900)		(123,900)
Share-based compensation		6,861					6,861		6,861
Redemption value adjustment					(5,225)		(5,225)		(5,225)
Net income attributable to Generac Holdings Inc.					58,270		58,270		58,270
Net income								588
Net income									58,858
Balance (in shares) at Sep. 30, 2022	72,640,001		(9,292,539)
Balance at Sep. 30, 2022	$ 728	976,001	$ (599,304)	(202,116)	2,263,627	(120,406)	2,318,530	1,075	2,319,605
Balance (in shares) at Dec. 31, 2022	72,701,257		(11,284,350)
Balance at Dec. 31, 2022	$ 728	1,016,138	$ (808,491)	(202,116)	2,316,224	(65,102)	2,257,381	1,874	2,259,255
Unrealized gain (loss) on interest rate swaps, net of tax						2,309	2,309		2,309
Foreign currency translation adjustment						21,179	21,179	(38)	21,141
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)	396,713
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price	$ 4	2,563					2,567		2,567
Net share settlement of restricted stock awards			$ (5,496)				(5,496)		(5,496)
Net share settlement of restricted stock awards (in shares)			(45,611)
Stock repurchases (in shares)			(875,580)
Stock repurchases			$ (100,267)				(100,267)		(100,267)
Share-based compensation		30,306					30,306		30,306
Redemption value adjustment					(10,883)		(10,883)		(10,883)
Net income attributable to Generac Holdings Inc.					118,005		118,005		118,005
Net income								743
Net income									118,748
Payment of contingent consideration (in shares)	10,943		466,118
Payment of contingent consideration	$ 0	15,411	$ 33,396				48,807		48,807
Balance (in shares) at Sep. 30, 2023	73,108,913		(11,739,423)
Balance at Sep. 30, 2023	$ 732	1,064,418	$ (880,858)	(202,116)	2,423,346	(41,614)	2,363,908	2,579	2,366,487
Balance (in shares) at Jun. 30, 2023	73,097,016		(10,858,348)
Balance at Jun. 30, 2023	$ 732	1,053,759	$ (779,892)	(202,116)	2,363,015	(16,216)	2,419,282	2,474	2,421,756
Unrealized gain (loss) on interest rate swaps, net of tax						1,045	1,045		1,045
Foreign currency translation adjustment						(26,443)	(26,443)	(93)	(26,536)
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price (in shares)	11,897
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price	$ 0	732					732		732
Net share settlement of restricted stock awards			$ (699)				(699)		(699)
Net share settlement of restricted stock awards (in shares)			(5,495)
Stock repurchases (in shares)			(875,580)
Stock repurchases			$ (100,267)				(100,267)		(100,267)
Share-based compensation		9,927					9,927		9,927
Redemption value adjustment					(46)		(46)		(46)
Net income attributable to Generac Holdings Inc.					60,377		60,377		60,377
Net income								198
Net income									60,575
Balance (in shares) at Sep. 30, 2023	73,108,913		(11,739,423)
Balance at Sep. 30, 2023	$ 732	$ 1,064,418	$ (880,858)	$ (202,116)	$ 2,423,346	$ (41,614)	$ 2,363,908	$ 2,579	$ 2,366,487

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Unrealized gain (loss) on interest rate swaps, tax	$ 349	$ 4,647	$ 772	$ 13,381

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Operating activities
Net income		$ 60,634	$ 60,446	$ 120,310	$ 334,979
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation				45,215	39,043
Amortization of intangible assets		26,718	25,751	78,934	77,681
Amortization of original issue discount and deferred financing costs				2,902	2,261
Loss on extinguishment of debt	[1]	0	0	0	3,743
Deferred income taxes				(18,715)	(83,272)
Share-based compensation expense	[2]	9,927	6,861	30,306	23,423
Gain on disposal of assets				(538)	(555)
Other noncash charges				380	7,037
Net changes in operating assets and liabilities, net of acquisitions:
Accounts receivable				(68,975)	(20,810)
Inventories				101,894	(353,618)
Other assets				32,175	(7,033)
Accounts payable				(57,866)	(136,289)
Accrued wages and employee benefits				10,244	(17,418)
Other accrued liabilities				(70,622)	105,544
Excess tax benefits from equity awards				(920)	(17,068)
Net cash provided by (used in) operating activities				204,724	(42,352)
Investing activities
Proceeds from sale of property and equipment				1,933	2,049
Proceeds from sale of investment				0	1,308
Proceeds from beneficial interests in securitization transactions				2,533	2,745
Contribution to equity method investment				(6,627)	(14,930)
Purchase of long-term investment				(2,592)	0
Expenditures for property and equipment				(77,718)	(64,833)
Acquisition of business, net of cash acquired				(15,974)	(11,421)
Net cash used in investing activities				(98,445)	(85,082)
Financing activities
Proceeds from short-term borrowings				49,078	237,182
Proceeds from long-term borrowings				345,384	935,614
Repayments of short-term borrowings				(25,910)	(239,550)
Repayments of long-term borrowings and finance lease obligations				(233,101)	(540,481)
Stock repurchases				(100,267)	(123,900)
Payment of contingent acquisition consideration				(4,979)	(16,135)
Payment of debt issuance costs				0	(10,330)
Purchase of additional ownership interest				(104,844)	(375)
Cash dividends paid to noncontrolling interest of subsidiary				0	(309)
Taxes paid related to equity awards				(10,068)	(40,472)
Proceeds from exercise of stock options				7,139	13,627
Net cash (used in) provided by financing activities				(77,568)	214,871
Effect of exchange rate changes on cash and cash equivalents				91	(4,865)
Net increase in cash and cash equivalents				28,802	82,572
Cash and cash equivalents at beginning of period				132,723	147,339	$ 147,339
Cash and cash equivalents at end of period		$ 161,525	$ 229,911	$ 161,525	$ 229,911	$ 132,723
[1]Represents the write-off of original issue discount and capitalized debt issuance costs due to voluntary debt prepayment.[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, 2023
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, 2022 ● In June 2022, ● In October 2022, ● In February 2023, 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, 2023, three nine September 30, 2023 2022 three nine September 30, 2023 2022 nine September 30, 2023 2022, 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, 2022 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, 2023
Notes to Financial Statements
Business Combination Disclosure [Text Block]	2 . Acquisitions Fiscal 2023 On February 1, 2023, The Company recorded its preliminary purchase price allocation for REFUstor during the first 2023, March 31, 2024, not September 30, 2023. September 30, 2023. not not Fiscal 2022 On June 30, 2022, On October 3, 2022, The combined purchase price for these two second fourth 2022, second 2023 not fourth 2023. third 2023, September 30, 2023. not 2022 not

Note 3 - Redeemable Noncontroll

Note 3 - Redeemable Noncontrolling Interest	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Redeemable Noncontrolling Interest [Text Block]	3. On March 1, 2016, May 2021, March 8, 2023, first 2023 twenty December 31, 2022, December 31, 2025. On February 1, 2019, five may five March 2022, May 2022, The redeemable noncontrolling interests are 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, 2023 2022 2023 2022 Balance at beginning of period $ 5,688 $ 82,830 $ 110,471 $ 58,050 Net income 58 1,589 1,728 5,261 Foreign currency translation (153 ) (2,708 ) (689 ) (6,817 ) Purchase of additional ownership interest - - (116,754 ) (375 ) Redemption value adjustment 46 5,225 10,883 30,817 Balance at end of period $ 5,639 $ 86,936 $ 5,639 $ 86,936

Note 4 - Derivative Instruments

Note 4 - Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2023
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, ap agreements, the final four May 2023. March 2020, three which were still outstanding as o September 30, 2023 In June 2022, 11, The amount of gains, net of tax recognized, for the three nine September 30, 2023, s, net of tax recognized, for the three nine September 30, 2022, Fair Value The following table presents the fair value of all of the Company’s derivatives: September 30, 2023 December 31, 2022 Commodity contracts $ 9 $ - Foreign currency contracts (181 ) 94 Interest rate swaps 52,360 49,279 In the condensed consolidated balance sheets, the fair value of the commodity contracts is included in prepaid expenses and other current assets. The fair value of the foreign currency contracts is included in other accrued liabilities at September 30, 2023, December 31, 2022. September 30, 2023, and December 31, 2022, is an asset of $54,388 and $51,184, respect

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
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 revolving facility borrowings), excluding Term Loan borrowings, approximates the fair value of these instruments based on their short-term nature. The fair value of the Term Loan B borrowing, which has a net carrying value of $524,529, was $530,000 (Level 2 September 30, 2023, he fair value of Term Loan A approximates the carrying value. 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 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. The fair value measurement of contingent consideration is typically categorized as a Level 3 not At September 30, 2023, $38,746 and is included i December 31, 2022, December 31, 2028. December 31, 2025. The following table provides a reconciliation of the activity for contingent consideration: Beginning balance, January 1, 2023 $ 81,533 Changes in fair value - Additional contingent consideration (1) 11,490 Payment of contingent consideration (2) (53,786 ) Present value interest accretion (491 ) Ending balance, September 30, 2023 $ 38,746 ( 1 3, ( 2

Note 6 - Accumulated Other Comp

Note 6 - Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	6. Loss The following table presents a disclosure of changes in AOCL during the three nine September 30, 2023 2022 Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – July 1, 2023 $ (53,923 ) $ 37,707 $ (16,216 ) Other comprehensive income (loss) (26,443 ) (1) 1,045 (2) (25,398 ) Ending Balance – September 30, 2023 $ (80,366 ) $ 38,752 $ (41,614 ) Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – July 1, 2022 $ (106,645 ) $ 23,806 $ (82,839 ) Other comprehensive income (loss) (51,324 ) (3) 13,757 (4) (37,567 ) Ending Balance – September 30, 2022 $ (157,969 ) $ 37,563 $ (120,406 ) Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – January 1, 2023 $ (101,545 ) $ 36,443 $ (65,102 ) Other comprehensive income (loss) 21,179 (5) 2,309 (6) 23,488 Ending Balance – September 30, 2023 $ (80,366 ) $ 38,752 $ (41,614 ) Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – January 1, 2022 $ (52,704 ) $ (2,051 ) $ (54,755 ) Other comprehensive income (loss) (105,265 ) (3) 39,614 (7) (65,651 ) Ending Balance – September 30, 2022 $ (157,969 ) $ 37,563 $ (120,406 ) ( 1 Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the three September 30, 2023, ( 2 Represents unrealized gains of $1,394 on the interest rate swaps, net of tax effect of $(349) for the three September 30, 2023. ( 3 Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the three nine September 30, 2022, ( 4 Represents unrealized gains of $18,404 on the interest rate swaps, net of tax effect of $(4,647) for the three September 30, 2022. ( 5 Represents favorable impact from the weakening of the U.S. dollar against foreign currencies during the nine September 30, 2023, ( 6 Represents unrealized gains of $3,081 on the interest rate swaps, net of tax effect of $(772) for the nine September 30, 2023. ( 7 Represents unrealized gains of $52,995 on the interest rate swaps, net of tax effect of $(13,381) for the nine September 30, 2022.

Note 7 - Segment Reporting

Note 7 - Segment Reporting	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	7 . Segment Reporting The Company has two two The Company's product offerings consist primarily of power generation equipment, energy storage systems, energy management devices and solutions, and other power products designed for varying end customer uses. While Residential products and Commercial & Industrial (C&I) products include similar products, they differ based on power output and end customer. The breakout of net sales between residential, C&I, and other products and services by reportable segment is as follows: Net Sales by Segment Three Months Ended September 30, 2023 Product Classes Domestic International Total Residential products $ 539,775 $ 25,312 $ 565,087 Commercial & industrial products 238,212 146,321 384,533 Other 108,378 12,669 121,047 Total net sales $ 886,365 $ 184,302 $ 1,070,667 Net Sales by Segment Three Months Ended September 30, 2022 Product Classes Domestic International Total Residential products $ 635,772 $ 28,343 $ 664,115 Commercial & industrial products 196,485 114,701 311,186 Other 98,875 14,082 112,957 Total net sales $ 931,132 $ 157,126 $ 1,088,258 Net Sales by Segment Nine Months Ended September 30, 2023 Product Classes Domestic International Total Residential products $ 1,389,112 $ 93,426 $ 1,482,538 Commercial & industrial products 700,941 430,935 1,131,876 Other 305,239 39,344 344,583 Total net sales $ 2,395,292 $ 563,705 $ 2,958,997 Net Sales by Segment Nine Months Ended September 30, 2022 Product Classes Domestic International Total Residential products $ 2,246,113 $ 90,959 $ 2,337,072 Commercial & industrial products 515,771 383,492 899,263 Other 241,353 37,817 279,170 Total net sales $ 3,003,237 $ 512,268 $ 3,515,505 Residential products consist primarily of automatic home standby generators ranging in output from 7.5kW 150kW, C&I products consist of larger output stationary generators used in C&I applications with power outputs up to 3,250kW. The Other product class consists primarily of aftermarket service parts and product accessories sold to our customers, 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. The following table sets forth total sales by reportable segment and is inclusive of intersegment sales: Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Domestic International Eliminations Total Domestic International Eliminations Total External net sales $ 886,365 $ 184,302 $ - $ 1,070,667 $ 931,132 $ 157,126 $ - $ 1,088,258 Intersegment sales 7,640 23,293 (30,933 ) - 15,485 25,416 (40,901 ) - Total sales $ 894,005 $ 207,595 $ (30,933 ) $ 1,070,667 $ 946,617 $ 182,542 $ (40,901 ) $ 1,088,258 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Domestic International Eliminations Total Domestic International Eliminations Total External net sales $ 2,395,292 $ 563,705 $ - $ 2,958,997 $ 3,003,237 $ 512,268 $ - $ 3,515,505 Intersegment sales 33,960 84,078 (118,038 ) - 44,742 59,075 (103,817 ) - Total sales $ 2,429,252 $ 647,783 $ (118,038 ) $ 2,958,997 $ 3,047,979 $ 571,343 $ (103,817 ) $ 3,515,505 Management evaluates the performance of the Company's segments based primarily on Adjusted EBITDA, which is reconciled to income before provision for income taxes below. The computation of Adjusted EBITDA is defined as net income before noncontrolling interest adjusted for the following items: interest expense, depreciation expense, amortization of intangible assets, income tax expense, certain non-cash gains and losses including purchase accounting and contingent consideration adjustments, share-based compensation expense, losses on extinguishment of debt, certain transaction costs and credit facility fees, business optimization expenses, and certain other specific provisions noted below. Adjusted EBITDA Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Domestic $ 160,270 $ 159,810 $ 331,134 $ 572,159 International 28,332 24,006 94,088 79,532 Total adjusted EBITDA $ 188,602 $ 183,816 $ 425,222 $ 651,691 Interest expense (24,707 ) (15,514 ) (72,862 ) (35,303 ) Depreciation and amortization (42,951 ) (39,165 ) (124,149 ) (116,724 ) Non-cash write-down and other adjustments (1) (2,055 ) 6,840 5,257 10,025 Non-cash share-based compensation expense (2) (9,927 ) (6,861 ) (30,306 ) (23,423 ) Loss on extinguishment of debt (3) - - - (3,743 ) Transaction costs and credit facility fees (4) (921 ) (1,250 ) (3,161 ) (3,831 ) Business optimization and other charges (5) (5,291 ) (622 ) (8,151 ) (3,371 ) Provision for regulatory, legal, and clean energy product charges (6) (22,113 ) (55,265 ) (27,913 ) (55,265 ) Other (575 ) 61 (443 ) 951 Income before provision for income taxes $ 80,062 $ 72,040 $ 163,494 $ 421,007 ( 1 Includes gains/losses on disposals of assets and sales of certain investments, unrealized mark-to-market adjustments on commodity contracts, certain foreign currency related adjustments, and certain purchase accounting and contingent consideration 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 write-off of original issue discount and capitalized debt issuance costs due to voluntary debt prepayment. ( 4 Represents transaction costs incurred directly in connection with any investment, as defined in our credit agreement, equity issuance or debt issuance or refinancing, together with certain fees relating to our senior secured credit facilities. ( 5 Represents severance and other restructuring charges related to the consolidation of certain operating facilities and organizational functions. ( 6 The amount recorded in the third 2023 first 2023 July 29, 2021. third 2022 The Company’s sales in the U.S. represented approximately 79% and 82% of total sales for the three September 30, 2023 2022, nine September 30, 2023 and 2022, September 30, 2023, and December 31, 2022 , respectively.

Note 8 - Balance Sheet Details

Note 8 - Balance Sheet Details	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	8 . Balance Sheet Details Inventories consist of the following: September 30, December 31, 2023 2022 Raw material $ 766,826 $ 798,340 Work-in-process 14,365 14,899 Finished goods 529,938 592,145 Total $ 1,311,129 $ 1,405,384 Property and equipment consists of the following: September 30, December 31, 2023 2022 Land and improvements $ 22,811 $ 22,589 Buildings and improvements 255,165 243,553 Machinery and equipment 261,170 229,593 Dies and tools 41,536 37,343 Vehicles 10,920 9,807 Office equipment and systems 178,364 148,166 Leasehold improvements 8,494 6,849 Construction in progress 59,536 52,522 Gross property and equipment 837,996 750,422 Accumulated depreciation (326,103 ) (282,818 ) Total $ 511,893 $ 467,604 Total property and equipment includes finance leases of $27,168 and $24,719 on September 30, 2023, December 31, 2022

Note 9 - Product Warranty Oblig

Note 9 - Product Warranty Obligations	9 Months Ended
	Sep. 30, 2023
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, 2023 2022 2023 2022 Balance at beginning of period $ 122,222 $ 110,338 $ 138,011 $ 94,213 Payments (24,427 ) (22,677 ) (76,069 ) (54,135 ) Provision for warranty issued 18,136 19,076 51,353 62,169 Changes in estimates for pre-existing warranties (1) 3,630 38,571 6,266 43,061 Balance at end of period $ 119,561 $ 145,308 $ 119,561 $ 145,308 ( 1 third 2022 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, 2023 2022 2023 2022 Balance at beginning of period $ 140,922 $ 121,898 $ 132,813 $ 111,647 Deferred revenue contracts issued 10,615 10,324 30,774 31,202 Amortization of deferred revenue contracts (6,414 ) (5,470 ) (18,464 ) (16,097 ) Balance at end of period $ 145,123 $ 126,752 $ 145,123 $ 126,752 The timing of recognition of the Company’s deferred revenue balance related to extended warranties as of September 30, 2023, Remainder of 2023 $ 6,521 2024 27,066 2025 28,060 2026 24,554 2027 19,461 After 2027 39,461 Total $ 145,123 Standard product warranty obligations and extended warranty related deferred revenues are included in the condensed consolidated balance sheets as follows: September 30, December 31, 2023 2022 Product warranty liability Current portion - Accrued product warranty $ 70,572 $ 89,141 Long-term portion - other long-term liabilities 48,989 48,870 Total $ 119,561 $ 138,011 Deferred revenue related to extended warranties Current portion - other accrued liabilities $ 23,597 $ 30,291 Long-term portion - Deferred revenue 121,526 102,522 Total $ 145,123 $ 132,813

Note 10 - Contract Balances

Note 10 - Contract Balances	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	10. While the Company’s standard payment terms are less than one September 30, 2023, December 31, 2022 nine September 30, 2023, December 31, 2022, one

Note 11 - Credit Agreements

Note 11 - Credit Agreements	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	11 . Credit Agreements Short-term borrowings included in the condensed consolidated balance sheets as of September 30, 2023, December 31, 2022, 74,346 a Long-term borrowings are included in the condensed consolidated balance sheets as follows: September 30, December 31, 2023 2022 Tranche A Term Loan $ 750,000 $ 750,000 Tranche B Term Loan 530,000 530,000 Original issue discount and deferred financing costs (13,666 ) (16,568 ) Revolving Facility 200,000 90,000 Finance lease obligation 30,235 27,420 Other 5,909 966 Total 1,502,478 1,381,818 Less: current portion of debt 33,823 10,083 Less: current portion of finance lease obligation 3,514 2,650 Total $ 1,465,141 $ 1,369,085 Maturities of the Company's Tranche A Term Loan Facility, Tranche B Term Loan Facility, and Revolving Facility outstanding at September 30, 2023, Tranche A Term Loan Tranche B Term Loan Revolving Facility Total 2023 $ 9,375 $ - $ - $ 9,375 2024 28,125 - - 28,125 2025 46,875 - - 46,875 2026 65,625 530,000 - 595,625 2027 600,000 - 200,000 800,000 Total $ 750,000 $ 530,000 $ 200,000 $ 1,480,000 The Tranche B Term Loan Facility matures on December 13, 2026 June 29, 2027 first September 2023. The Company’s credit agreements originally provided for a $1,200,000 term loan B credit facility ("Tranche B Term Loan Facility") and included a $300,000 uncommitted incremental term loan on that facility. The Tranche B Term Loan Facility initially bore interest at rates based on either a base rate plus an applicable margin of 1.75% or adjusted LIBOR rate plus an applicable margin of 2.75%, subject to a LIBOR floor of 0.75%. After a number of amendments, the Tranche B Term Loan Facility currently bears interest at rates based on either a base rate plus an applicable margin of 0.75% or adjusted Secured Overnight Financing Rate ("SOFR") rate plus an applicable margin of 1.75%, subject to a SOFR floor of 0.00%. The interest rate for the Tranche B Term Loan Facility as of September 30, 2023, 7.18%. The Tranche B Term Loan Facility does not 1.00. September 30, 2023, as 2.25 to 1. 00, There are no In June 2022, second 2022 The Tranche A Term Loan Facility and the Revolving Facility initially bore interest at a rate based on adjusted SOFR plus an applicable margin of 1.5% through December 31, 2022, January 1, 2023, September 30, 2023, 7.1 0%. The Tranche A Term Loan Facility and the Revolving Facility added certain financial covenants that require the Company to maintain a total leverage ratio below 3.75 to 1.00 1.00. September 30, 2023, age ratio was 2.37 to 1.00, s 7.00 to 1.00. September 30, 2023. The Tranche B Term Loan Facility, Tranche A Term Loan Facility and Revolving 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 In connection with the June 2022 470 50, not, As of September 30, 2023, See Note 4, 7A 10

Note 12 - Stock Repurchase Prog

Note 12 - Stock Repurchase Program	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Treasury Stock [Text Block]	12 . Stock Repurchase Program In September 2020, October 27, 2020, third 2022. July 2022, August 5, 2022, may may may may third 2023, for $100,267. T first second 2023. third 2022, first second 2022. Since the inception of all stock repurchase programs (starting in August 2015),

Note 13 - Earnings Per Share

Note 13 - Earnings Per Share	9 Months Ended
	Sep. 30, 2023
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, as well as the satisfaction of certain contingent consideration conditions as of the end of the period. 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, 2023 2022 2023 2022 Numerator Net income attributable to Generac Holdings Inc. $ 60,377 $ 58,270 $ 118,005 $ 328,487 Redeemable noncontrolling interest redemption value adjustment (46 ) (5,225 ) (10,883 ) (30,817 ) Net income attributable to common shareholders $ 60,331 $ 53,045 $ 107,122 $ 297,670 Denominator Weighted average shares, basic 61,368,440 63,249,881 61,552,949 63,480,161 Dilutive effect of stock compensation awards (1) 722,723 1,006,814 809,794 1,139,242 Dilutive effect of contingently issued shares - 10,943 - 10,943 Diluted shares 62,091,163 64,267,638 62,362,743 64,630,346 Net income attributable to common shareholders per share Basic $ 0.98 $ 0.84 $ 1.74 $ 4.69 Diluted $ 0.97 $ 0.83 $ 1.72 $ 4.61 ( 1 Excludes approximately 370,000 and 344,000 stock options and restricted stock awards for the three nine September 30, 2023, three nine September 30, 2022,

Note 14 - Income Taxes

Note 14 - Income Taxes	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	14 . Income Taxes The effective income tax rates for the nine September 30, 2023 2022, 26.4% and not

Note 15 - Commitments and Conti

Note 15 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
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 The amount financed by dealers which remained outstanding under this arrangement on September 30, 2023, December 31, 2022, On August 1, 2022, September 23, 2022, October 7, 2022, 7 one not October 11, 2022. not may On October 28, 2022, Eight additional putative class actions were filed by consumers of Generac clean energy products between November 21, 2022 July 5, 2023. Basler, et al. v. Generac Power Systems, Inc. No. 22 01386; Dillon v. Generac Power Systems, Inc. No. 23 00034; Kates v. Generac Power Systems, Inc., et al., No. 23 00892; Zukas, et al., v. Generac Power Systems, Inc., et al., No. 23 00874 Moon v. Generac Power Systems, Inc. et al. No. 22 09183; Hufton, et al., v. Generac Power Systems, Inc., et al., No. 23 02462 Locatell v. Generac Power Systems, Inc., et al. No. 23 00203 Baltimore, et al. v. Generac Power Systems, Inc., No. 23 00217 On March 3, 2023, Moon September 1, 2023, October 31, 2023. On December 1, 2022, January 20, 2023, April 29, 2021 November 1, 2022 March 14, 2023, two May 30, 2023, July 31, 2023, October 9, 2023. On February 3, 2023, 14 10 20 1934, March 6, 2023, second May 2, 2023, two May 30, 2023, Between March 20, 2023, April 11, 2023, three June 1, 2023, three On October 28, 2022, 1.85 2019 2020 2020 . On November 30, 2022, 19 4 15 2068 4 July 29, 2021. May 3, 2023, not July 21, 2023, In 2019, 2021. three one June 23, 2023, 21 00428 20 00078 one two August 23, 2023, two two No. 22 00033 September 16, 2024, three No. 21 00323 December 11, 2023, On March 8, 2022, No. 22 00072 four October 5, 2023, one one On June 9, 2023, two Spartronics Vietnam, Inc. v. Generac Power Systems, Inc., et al. No. 23 00957 Spartronics Vietnam, Inc. v. Generac Power Systems, Inc., et al. No. 23 7206 third EXIM & Mfr Enter. v. Spartronics Vietnam, Inc. No. 23 00660 JC Global, Inc. v. Spartronics 23 1155 Circuit Interruption Tech. v. Spartronics Vietnam, Inc. No. 23 2140 In the opinion of management, it is presently unlikely that any legal or regulatory proceedings pending against or involving the Company will have a material adverse effect on the Company’s financial condition, results of operations or cash flows. However, in many of these matters, it is inherently difficult to determine whether a loss is probable or to estimate the size or range of the possible loss given the variety and potential outcomes of actual and potential claims, the uncertainty of future rulings, the behavior or incentives of adverse parties, and other factors outside the control of the Company. Accordingly, the Company’s loss reserves may

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		5. Other Information During the three September 30, 2023, no 10b5 1 10b5 1 408
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 3 - Redeemable Noncontro_2

Note 3 - Redeemable Noncontrolling Interest (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Redeemable Noncontrolling Interest [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance at beginning of period $ 5,688 $ 82,830 $ 110,471 $ 58,050 Net income 58 1,589 1,728 5,261 Foreign currency translation (153 ) (2,708 ) (689 ) (6,817 ) Purchase of additional ownership interest - - (116,754 ) (375 ) Redemption value adjustment 46 5,225 10,883 30,817 Balance at end of period $ 5,639 $ 86,936 $ 5,639 $ 86,936

Note 4 - Derivative Instrumen_2

Note 4 - Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule Of Derivative Assets (Liabilities) at Fair Value [Table Text Block]	September 30, 2023 December 31, 2022 Commodity contracts $ 9 $ - Foreign currency contracts (181 ) 94 Interest rate swaps 52,360 49,279

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]	Beginning balance, January 1, 2023 $ 81,533 Changes in fair value - Additional contingent consideration (1) 11,490 Payment of contingent consideration (2) (53,786 ) Present value interest accretion (491 ) Ending balance, September 30, 2023 $ 38,746

Note 6 - Accumulated Other Co_2

Note 6 - Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023 $ (53,923 ) $ 37,707 $ (16,216 ) Other comprehensive income (loss) (26,443 ) (1) 1,045 (2) (25,398 ) Ending Balance – September 30, 2023 $ (80,366 ) $ 38,752 $ (41,614 ) Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – July 1, 2022 $ (106,645 ) $ 23,806 $ (82,839 ) Other comprehensive income (loss) (51,324 ) (3) 13,757 (4) (37,567 ) Ending Balance – September 30, 2022 $ (157,969 ) $ 37,563 $ (120,406 ) Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – January 1, 2023 $ (101,545 ) $ 36,443 $ (65,102 ) Other comprehensive income (loss) 21,179 (5) 2,309 (6) 23,488 Ending Balance – September 30, 2023 $ (80,366 ) $ 38,752 $ (41,614 ) Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Cash Flow Hedges Total Beginning Balance – January 1, 2022 $ (52,704 ) $ (2,051 ) $ (54,755 ) Other comprehensive income (loss) (105,265 ) (3) 39,614 (7) (65,651 ) Ending Balance – September 30, 2022 $ (157,969 ) $ 37,563 $ (120,406 )

Note 7 - Segment Reporting (Tab

Note 7 - Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Disaggregation of Revenue [Table Text Block]	Net Sales by Segment Three Months Ended September 30, 2023 Product Classes Domestic International Total Residential products $ 539,775 $ 25,312 $ 565,087 Commercial & industrial products 238,212 146,321 384,533 Other 108,378 12,669 121,047 Total net sales $ 886,365 $ 184,302 $ 1,070,667 Net Sales by Segment Three Months Ended September 30, 2022 Product Classes Domestic International Total Residential products $ 635,772 $ 28,343 $ 664,115 Commercial & industrial products 196,485 114,701 311,186 Other 98,875 14,082 112,957 Total net sales $ 931,132 $ 157,126 $ 1,088,258 Net Sales by Segment Nine Months Ended September 30, 2023 Product Classes Domestic International Total Residential products $ 1,389,112 $ 93,426 $ 1,482,538 Commercial & industrial products 700,941 430,935 1,131,876 Other 305,239 39,344 344,583 Total net sales $ 2,395,292 $ 563,705 $ 2,958,997 Net Sales by Segment Nine Months Ended September 30, 2022 Product Classes Domestic International Total Residential products $ 2,246,113 $ 90,959 $ 2,337,072 Commercial & industrial products 515,771 383,492 899,263 Other 241,353 37,817 279,170 Total net sales $ 3,003,237 $ 512,268 $ 3,515,505
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Domestic International Eliminations Total Domestic International Eliminations Total External net sales $ 886,365 $ 184,302 $ - $ 1,070,667 $ 931,132 $ 157,126 $ - $ 1,088,258 Intersegment sales 7,640 23,293 (30,933 ) - 15,485 25,416 (40,901 ) - Total sales $ 894,005 $ 207,595 $ (30,933 ) $ 1,070,667 $ 946,617 $ 182,542 $ (40,901 ) $ 1,088,258 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Domestic International Eliminations Total Domestic International Eliminations Total External net sales $ 2,395,292 $ 563,705 $ - $ 2,958,997 $ 3,003,237 $ 512,268 $ - $ 3,515,505 Intersegment sales 33,960 84,078 (118,038 ) - 44,742 59,075 (103,817 ) - Total sales $ 2,429,252 $ 647,783 $ (118,038 ) $ 2,958,997 $ 3,047,979 $ 571,343 $ (103,817 ) $ 3,515,505
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Adjusted EBITDA Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Domestic $ 160,270 $ 159,810 $ 331,134 $ 572,159 International 28,332 24,006 94,088 79,532 Total adjusted EBITDA $ 188,602 $ 183,816 $ 425,222 $ 651,691 Interest expense (24,707 ) (15,514 ) (72,862 ) (35,303 ) Depreciation and amortization (42,951 ) (39,165 ) (124,149 ) (116,724 ) Non-cash write-down and other adjustments (1) (2,055 ) 6,840 5,257 10,025 Non-cash share-based compensation expense (2) (9,927 ) (6,861 ) (30,306 ) (23,423 ) Loss on extinguishment of debt (3) - - - (3,743 ) Transaction costs and credit facility fees (4) (921 ) (1,250 ) (3,161 ) (3,831 ) Business optimization and other charges (5) (5,291 ) (622 ) (8,151 ) (3,371 ) Provision for regulatory, legal, and clean energy product charges (6) (22,113 ) (55,265 ) (27,913 ) (55,265 ) Other (575 ) 61 (443 ) 951 Income before provision for income taxes $ 80,062 $ 72,040 $ 163,494 $ 421,007

Note 8 - Balance Sheet Details

Note 8 - Balance Sheet Details (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, December 31, 2023 2022 Raw material $ 766,826 $ 798,340 Work-in-process 14,365 14,899 Finished goods 529,938 592,145 Total $ 1,311,129 $ 1,405,384
Property, Plant and Equipment [Table Text Block]	September 30, December 31, 2023 2022 Land and improvements $ 22,811 $ 22,589 Buildings and improvements 255,165 243,553 Machinery and equipment 261,170 229,593 Dies and tools 41,536 37,343 Vehicles 10,920 9,807 Office equipment and systems 178,364 148,166 Leasehold improvements 8,494 6,849 Construction in progress 59,536 52,522 Gross property and equipment 837,996 750,422 Accumulated depreciation (326,103 ) (282,818 ) Total $ 511,893 $ 467,604

Note 9 - Product Warranty Obl_2

Note 9 - Product Warranty Obligations (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance at beginning of period $ 122,222 $ 110,338 $ 138,011 $ 94,213 Payments (24,427 ) (22,677 ) (76,069 ) (54,135 ) Provision for warranty issued 18,136 19,076 51,353 62,169 Changes in estimates for pre-existing warranties (1) 3,630 38,571 6,266 43,061 Balance at end of period $ 119,561 $ 145,308 $ 119,561 $ 145,308 Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance at beginning of period $ 140,922 $ 121,898 $ 132,813 $ 111,647 Deferred revenue contracts issued 10,615 10,324 30,774 31,202 Amortization of deferred revenue contracts (6,414 ) (5,470 ) (18,464 ) (16,097 ) Balance at end of period $ 145,123 $ 126,752 $ 145,123 $ 126,752
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]	Remainder of 2023 $ 6,521 2024 27,066 2025 28,060 2026 24,554 2027 19,461 After 2027 39,461 Total $ 145,123
Product Warranty Obligations Included In Consolidated Balance Sheet [Table Text Block]	September 30, December 31, 2023 2022 Product warranty liability Current portion - Accrued product warranty $ 70,572 $ 89,141 Long-term portion - other long-term liabilities 48,989 48,870 Total $ 119,561 $ 138,011 Deferred revenue related to extended warranties Current portion - other accrued liabilities $ 23,597 $ 30,291 Long-term portion - Deferred revenue 121,526 102,522 Total $ 145,123 $ 132,813

Note 11 - Credit Agreements (Ta

Note 11 - Credit Agreements (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	September 30, December 31, 2023 2022 Tranche A Term Loan $ 750,000 $ 750,000 Tranche B Term Loan 530,000 530,000 Original issue discount and deferred financing costs (13,666 ) (16,568 ) Revolving Facility 200,000 90,000 Finance lease obligation 30,235 27,420 Other 5,909 966 Total 1,502,478 1,381,818 Less: current portion of debt 33,823 10,083 Less: current portion of finance lease obligation 3,514 2,650 Total $ 1,465,141 $ 1,369,085
Schedule of Maturities of Long-Term Debt [Table Text Block]	Tranche A Term Loan Tranche B Term Loan Revolving Facility Total 2023 $ 9,375 $ - $ - $ 9,375 2024 28,125 - - 28,125 2025 46,875 - - 46,875 2026 65,625 530,000 - 595,625 2027 600,000 - 200,000 800,000 Total $ 750,000 $ 530,000 $ 200,000 $ 1,480,000

Note 13 - Earnings Per Share (T

Note 13 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Numerator Net income attributable to Generac Holdings Inc. $ 60,377 $ 58,270 $ 118,005 $ 328,487 Redeemable noncontrolling interest redemption value adjustment (46 ) (5,225 ) (10,883 ) (30,817 ) Net income attributable to common shareholders $ 60,331 $ 53,045 $ 107,122 $ 297,670 Denominator Weighted average shares, basic 61,368,440 63,249,881 61,552,949 63,480,161 Dilutive effect of stock compensation awards (1) 722,723 1,006,814 809,794 1,139,242 Dilutive effect of contingently issued shares - 10,943 - 10,943 Diluted shares 62,091,163 64,267,638 62,362,743 64,630,346 Net income attributable to common shareholders per share Basic $ 0.98 $ 0.84 $ 1.74 $ 4.69 Diluted $ 0.97 $ 0.83 $ 1.72 $ 4.61

Note 2 - Acquisitions (Details

Note 2 - Acquisitions (Details Textual) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Payments to Acquire Businesses, Net of Cash Acquired	$ 15,974	$ 11,421
EEC and Blue Pillar [Member]
Payments to Acquire Businesses, Net of Cash Acquired	$ 27,456		$ 25,654

Note 3 - Redeemable Noncontro_3

Note 3 - Redeemable Noncontrolling Interest (Details Textual) - USD ($) $ in Thousands			1 Months Ended			9 Months Ended
	Mar. 08, 2023	Feb. 01, 2019	May 31, 2022	Mar. 31, 2022	May 31, 2021	Sep. 30, 2023	Sep. 30, 2022	Mar. 01, 2016
Payments for Repurchase of Redeemable Noncontrolling Interest						$ 104,844	$ 375
Pramac [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners					20%			35%
Captiva Energy Solutions [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		49%
Pramac [Member]
Business Acquisition, Percentage of Voting Interests Acquired					15%			65%
Redeemable Noncontrolling Interest, Equity, Fair Value, Total								$ 34,253
Payments for Repurchase of Redeemable Noncontrolling Interest	$ 116,754				$ 27,164
Business Combination, Step Acquisition, Equity Interest in Acquiree, including Subsequent Acquisition, Percentage, Total	100%				80%
Business Combination, Consideration Transferred	$ 105,264
Payments to Acquire Businesses, Gross	104,844
Gain (Loss), Foreign Currency Transaction, before Tax	420
Business Combination, Consideration Transferred, Liabilities Incurred	$ 11,490
Pramac [Member] | Restricted Shares for Contingent Consideration [Member
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)	135,205
Captiva Energy Solutions [Member]
Business Acquisition, Percentage of Voting Interests Acquired		51%		15%
Redeemable Noncontrolling Interest, Equity, Fair Value, Total		$ 3,165
Payments for Repurchase of Redeemable Noncontrolling Interest				$ 461
Business Combination, Step Acquisition, Equity Interest in Acquiree, including Subsequent Acquisition, Percentage, Total				66%
Business Acquisition, Noncontrolling Interest, Term of Put Option (Year)		5 years
Captiva Energy Solutions [Member] | Amendment to Purchase Agreement [Member]
Payments for Repurchase of Redeemable Noncontrolling Interest			$ 375

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Redemption value adjustment	$ (46)	$ (5,225)	$ (10,883)	$ (30,817)
Redeemable Noncontrolling Interest [Member]
Balance	5,688	82,830	110,471	58,050
Net income	58	1,589	1,728	5,261
Foreign currency translation	(153)	(2,708)	(689)	(6,817)
Purchase of additional ownership interest	0	0	(116,754)	(375)
Redemption value adjustment	46	5,225	10,883	30,817
Balance	$ 5,639	$ 86,936	$ 5,639	$ 86,936

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
	Sep. 30, 2023 USD ($)	Mar. 31, 2020	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2017	Dec. 31, 2022 USD ($)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax			$ 1,045	$ 13,757	$ 2,309	$ 39,614
Derivative Assets (Liabilities), Net Fair Value of Derivative Contracts, Excluding Impact of Credit Risk	$ 54,388		54,388		$ 54,388			$ 51,184
Commodity Contract [Member]
Derivative, Number of Instruments Held, Total				0		0
Interest Rate Swap [Member]
Number of New Contracts Entered		3					20
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	$ 2,309		$ 1,045	$ 13,757		$ 39,614

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, 2023	Dec. 31, 2022
Commodity Contract [Member]
Derivative	$ 9	$ 0
Foreign Exchange Contract [Member]
Derivative	(181)	94
Interest Rate Swap [Member]
Derivative	$ 52,360	$ 49,279

Note 5 - Fair Value Measureme_3

Note 5 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 08, 2023	Dec. 31, 2022
Long-Term Debt	$ 1,480,000
Payment for Contingent Consideration Liability, Financing Activities	4,979	$ 16,135
Pramac [Member]
Business Combination, Contingent Consideration, Liability			$ 11,490
ecobee Inc. [Member]
Payment for Contingent Consideration Liability, Financing Activities	479
Contingent Consideration, Share Payments, Value	44,521
Acquisition of Chilicon [Member]
Contingent Consideration, Share Payments, Value	4,286
Mean Green [Member]
Payment for Contingent Consideration Liability, Financing Activities	4,500
Other Long-term Liabilities [Member]
Business Combination, Contingent Consideration, Liability	38,746			$ 32,033
Other Accrued Liabilities [Member]
Business Combination, Contingent Consideration, Liability				$ 49,500
Fair Value, Inputs, Level 2 [Member]
Debt Instrument, Fair Value Disclosure	530,000
Term Loan [Member]
Long-Term Debt	$ 524,529

Note 5 - Fair Value Measureme_4

Note 5 - Fair Value Measurements - Reconciliation of Contingent Consideration (Details) - Contingent Consideration Liability [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Balance	$ 81,533
Changes in fair value	0
Additional contingent consideration (1)	11,490	[1]
Payment of contingent consideration (2)	(53,786)	[2]
Present value interest accretion	(491)
Balance	$ 38,746
[1]Represents $11,490 of contingent deferred consideration for the Pramac buyout. See Note 3, "Redeemable Noncontrolling Interest".[2]Includes payments of $479 in cash and $44,521 in shares for the ecobee acquisition, $4,286 in shares for the Chilicon acquisition, and $4,500 in cash for the Mean Green Products ("Mean Green") acquisition. The payment of common stock is accounted for as a non-cash item in the condensed consolidated statement of cash flows.

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Other Comprehensive Income (Loss), before Reclassifications, before Tax	$ 1,394	$ 18,404	$ 3,081	$ 52,995
Other Comprehensive Income (Loss) before Reclassifications, Tax	$ 349	$ 4,647	$ 772	$ 13,381

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, 2023		Sep. 30, 2022		Sep. 30, 2023		Sep. 30, 2022
Balance	$ 2,421,756		$ 2,419,762		$ 2,259,255		$ 2,214,087
Balance	2,366,487		2,319,605		2,366,487		2,319,605
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(53,923)		(106,645)		(101,545)		(52,704)
Other comprehensive income (loss)	(26,443)	[1]	(51,324)	[2]	21,179	[3]	(105,265)	[2]
Balance	(80,366)		(157,969)		(80,366)		(157,969)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Balance	37,707		23,806		36,443		(2,051)
Other comprehensive income (loss)	1,045	[4]	13,757	[5]	2,309	[6]	39,614	[7]
Balance	38,752		37,563		38,752		37,563
AOCI Attributable to Parent [Member]
Balance	(16,216)		(82,839)		(65,102)		(54,755)
Other comprehensive income (loss)	(25,398)		(37,567)		23,488		(65,651)
Balance	$ (41,614)		$ (120,406)		$ (41,614)		$ (120,406)
[1]Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the three months ended September 30, 2023, particularly the Euro, British Pound, and Mexican Peso.[2]Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the three and nine months ended September 30, 2022, particularly the Euro and British Pound.[3]Represents favorable impact from the weakening of the U.S. dollar against foreign currencies during the nine months ended September 30, 2023, particularly the Euro, British Pound, and Mexican Peso.[4]Represents unrealized gains of $1,394 on the interest rate swaps, net of tax effect of $(349) for the three months ended September 30, 2023.[5]Represents unrealized gains of $18,404 on the interest rate swaps, net of tax effect of $(4,647) for the three months ended September 30, 2022.[6]Represents unrealized gains of $3,081 on the interest rate swaps, net of tax effect of $(772) for the nine months ended September 30, 2023.[7]Represents unrealized gains of $52,995 on the interest rate swaps, net of tax effect of $(13,381) for the nine months ended September 30, 2022.

Note 7 - Segment Reporting (Det

Note 7 - Segment Reporting (Details Textual) $ in Thousands		3 Months Ended			9 Months Ended		12 Months Ended
		Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022
Number of Reportable Segments					2
Provision for Product Charges	[1]	$ 22,113		$ 55,265	$ 27,913	$ 55,265
Standard Product Warranty Accrual, Warranty Provision				$ 37,338
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | UNITED STATES
Concentration Risk, Percentage		79%		82%	77%	82%
Geographic Concentration Risk [Member] | Long-lived Assets [Member] | UNITED STATES
Concentration Risk, Percentage					75%		77%
Product [Member]
Provision for Product Charges			$ 5,800,000
Clean Energy Product [Member]
Accounts Receivable, Credit Loss Expense (Reversal)				$ 17,926,000
Standard Product Warranty Accrual, Warranty Provision				$ 37,338,000
[1]The amount recorded in the third quarter 2023 represents a provision for judgments, estimates of pre-judgment interest and costs, and legal expenses related to certain patent lawsuits. The amount recorded in the first quarter 2023 represents a provision of $5.8 million for a matter with the Consumer Product Safety Commission (CPSC) concerning the imposition of civil fines for allegedly failing to timely submit a report under the Consumer Product Safety Act (CPSA) in relation to certain portable generators that were subject to a voluntary recall previously announced on July 29, 2021. The amount recorded in the third quarter of 2022 represents a specific bad debt provision of $17.9 million for a clean energy product customer that filed for bankruptcy as well as a warranty provision of $37.3 million to address certain clean energy product warranty-related matters.

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net sales	$ 1,070,667	$ 1,088,258	$ 2,958,997	$ 3,515,505
Residential Power Products [Member]
Net sales	565,087	664,115	1,482,538	2,337,072
Commercial and Industrial Power Products [Member]
Net sales	384,533	311,186	1,131,876	899,263
Other Products and Services [Member]
Net sales	121,047	112,957	344,583	279,170
Domestic [Member]
Net sales	886,365	931,132	2,395,292	3,003,237
Domestic [Member] | Residential Power Products [Member]
Net sales	539,775	635,772	1,389,112	2,246,113
Domestic [Member] | Commercial and Industrial Power Products [Member]
Net sales	238,212	196,485	700,941	515,771
Domestic [Member] | Other Products and Services [Member]
Net sales	108,378	98,875	305,239	241,353
International [Member]
Net sales	184,302	157,126	563,705	512,268
International [Member] | Residential Power Products [Member]
Net sales	25,312	28,343	93,426	90,959
International [Member] | Commercial and Industrial Power Products [Member]
Net sales	146,321	114,701	430,935	383,492
International [Member] | Other Products and Services [Member]
Net sales	$ 12,669	$ 14,082	$ 39,344	$ 37,817

Note 7 - Segment Reporting - To

Note 7 - Segment Reporting - Total Sales by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Total sales	$ 1,070,667	$ 1,088,258	$ 2,958,997	$ 3,515,505
External Net Sales [Member]
Total sales	1,070,667	1,088,258	2,958,997	3,515,505
Intersegment Sales [Member]
Total sales	0	0	0	0
Intersegment Eliminations [Member]
Total sales	(30,933)	(40,901)	(118,038)	(103,817)
Intersegment Eliminations [Member] | External Net Sales [Member]
Total sales	0	0	0	0
Intersegment Eliminations [Member] | Intersegment Sales [Member]
Total sales	(30,933)	(40,901)	(118,038)	(103,817)
Domestic [Member]
Total sales	886,365	931,132	2,395,292	3,003,237
Domestic [Member] | Operating Segments [Member]
Total sales	894,005	946,617	2,429,252	3,047,979
Domestic [Member] | Operating Segments [Member] | External Net Sales [Member]
Total sales	886,365	931,132	2,395,292	3,003,237
Domestic [Member] | Operating Segments [Member] | Intersegment Sales [Member]
Total sales	7,640	15,485	33,960	44,742
International [Member]
Total sales	184,302	157,126	563,705	512,268
International [Member] | Operating Segments [Member]
Total sales	207,595	182,542	647,783	571,343
International [Member] | Operating Segments [Member] | External Net Sales [Member]
Total sales	184,302	157,126	563,705	512,268
International [Member] | Operating Segments [Member] | Intersegment Sales [Member]
Total sales	$ 23,293	$ 25,416	$ 84,078	$ 59,075

Note 7 - Segment Reporting - Se

Note 7 - Segment Reporting - Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Total adjusted EBITDA		$ 188,602	$ 183,816	$ 425,222	$ 651,691
Interest expense		(24,707)	(15,514)	(72,862)	(35,303)
Depreciation and amortization		(42,951)	(39,165)	(124,149)	(116,724)
Non-cash write-down and other adjustments (1)	[1]	(2,055)	6,840	5,257	10,025
Non-cash share-based compensation expense (2)	[2]	(9,927)	(6,861)	(30,306)	(23,423)
Loss on extinguishment of debt	[3]	0	0	0	(3,743)
Transaction costs and credit facility fees (4)	[4]	(921)	(1,250)	(3,161)	(3,831)
Business optimization and other charges (5)	[5]	(5,291)	(622)	(8,151)	(3,371)
Provision for regulatory, legal, and clean energy product charges (6)	[6]	(22,113)	(55,265)	(27,913)	(55,265)
Other		(575)	61	(443)	951
Income before provision for income taxes		80,062	72,040	163,494	421,007
Domestic [Member]
Total adjusted EBITDA		160,270	159,810	331,134	572,159
International [Member]
Total adjusted EBITDA		$ 28,332	$ 24,006	$ 94,088	$ 79,532
[1]Includes gains/losses on disposals of assets and sales of certain investments, unrealized mark-to-market adjustments on commodity contracts, certain foreign currency related adjustments, and certain purchase accounting and contingent consideration 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 write-off of original issue discount and capitalized debt issuance costs due to voluntary debt prepayment.[4]Represents transaction costs incurred directly in connection with any investment, as defined in our credit agreement, equity issuance or debt issuance or refinancing, together with certain fees relating to our senior secured credit facilities.[5]Represents severance and other restructuring charges related to the consolidation of certain operating facilities and organizational functions.[6]The amount recorded in the third quarter 2023 represents a provision for judgments, estimates of pre-judgment interest and costs, and legal expenses related to certain patent lawsuits. The amount recorded in the first quarter 2023 represents a provision of $5.8 million for a matter with the Consumer Product Safety Commission (CPSC) concerning the imposition of civil fines for allegedly failing to timely submit a report under the Consumer Product Safety Act (CPSA) in relation to certain portable generators that were subject to a voluntary recall previously announced on July 29, 2021. The amount recorded in the third quarter of 2022 represents a specific bad debt provision of $17.9 million for a clean energy product customer that filed for bankruptcy as well as a warranty provision of $37.3 million to address certain clean energy product warranty-related matters.

Note 8 - Balance Sheet Detail_2

Note 8 - Balance Sheet Details (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	$ 27,168	$ 24,719

Note 8 - Balance Sheet Detail_3

Note 8 - Balance Sheet Details - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Raw material	$ 766,826	$ 798,340
Work-in-process	14,365	14,899
Finished goods	529,938	592,145
Total	$ 1,311,129	$ 1,405,384

Note 8 - Balance Sheet Detail_4

Note 8 - Balance Sheet Details - Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property and equipment, gross	$ 837,996	$ 750,422
Accumulated depreciation	(326,103)	(282,818)
Total	511,893	467,604
Land and Land Improvements [Member]
Property and equipment, gross	22,811	22,589
Building and Building Improvements [Member]
Property and equipment, gross	255,165	243,553
Machinery and Equipment [Member]
Property and equipment, gross	261,170	229,593
Dies and Tools [Member]
Property and equipment, gross	41,536	37,343
Vehicles [Member]
Property and equipment, gross	10,920	9,807
Office Equipment [Member]
Property and equipment, gross	178,364	148,166
Leasehold Improvements [Member]
Property and equipment, gross	8,494	6,849
Construction in Progress [Member]
Property and equipment, gross	$ 59,536	$ 52,522

Note 9 - Product Warranty Obl_3

Note 9 - Product Warranty Obligations (Details Textual) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2023
Standard Product Warranty Accrual, Warranty Provision	$ 37,338
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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Balance at beginning of period		$ 122,222	$ 110,338	$ 138,011	$ 94,213
Payments		(24,427)	(22,677)	(76,069)	(54,135)
Provision for warranty issued		18,136	19,076	51,353	62,169
Changes in estimates for pre-existing warranties (1)	[1]	3,630	38,571	6,266	43,061
Balance at end of period		119,561	145,308	119,561	145,308
Balance at beginning of period		140,922	121,898	132,813	111,647
Deferred revenue contracts issued		10,615	10,324	30,774	31,202
Amortization of deferred revenue contracts		(6,414)	(5,470)	(18,464)	(16,097)
Balance at end of period		$ 145,123	$ 126,752	$ 145,123	$ 126,752
[1]Includes a specific warranty provision recorded during the third quarter of 2022 in the amount of $37,338 to address certain clean energy product warranty-related matters.

Note 9 - Product Warranty Obl_5

Note 9 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Revenue performance obligation	$ 145,123

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, 2023 USD ($)
Revenue performance obligation	$ 145,123
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue performance obligation	6,521
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue performance obligation	27,066
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue performance obligation	28,060
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue performance obligation	24,554
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue performance obligation	19,461
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue performance obligation	$ 39,461

Note 9 - Product Warranty Obl_7

Note 9 - Product Warranty Obligations - Recognition of Deferred Revenue Related to Extended Warranties (Details) (Parentheticals)	Sep. 30, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue performance period (Year)	3 months
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
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue performance period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
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, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Current portion - Accrued product warranty	$ 70,572		$ 89,141
Long-term portion - other long-term liabilities	48,989		48,870
Total	119,561	$ 122,222	138,011	$ 145,308	$ 110,338	$ 94,213
Current portion - other accrued liabilities	23,597		30,291
Long-term portion - Deferred revenue	121,526		102,522
Total	$ 145,123	$ 140,922	$ 132,813	$ 126,752	$ 121,898	$ 111,647

Note 10 - Contract Balances (De

Note 10 - Contract Balances (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Contract with Customer, Liability	$ 17,871	$ 33,551
Contract with Customer, Liability, Revenue Recognized	$ 30,252

Note 11 - Credit Agreements (De

Note 11 - Credit Agreements (Details Textual) - USD ($) $ in Thousands				1 Months Ended	3 Months Ended			7 Months Ended	9 Months Ended
		Jan. 01, 2023	May 31, 2013	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Short-Term Debt					$ 74,346			$ 48,990	$ 74,346
Gain (Loss) on Extinguishment of Debt, Total	[1]				0	$ 0			$ 0	$ (3,743)
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity				$ 1,250,000			$ 1,250,000
Covenant Maximum Total Leverage Ratio									3.75
Covenant Minimum Interest Coverage Ratio									3
Total Leverage Ratio									2.37
Interest Coverage Ratio									7
Debt Issuance Costs, Net, Total				10,330			10,330
Debt Instrument, Fee Amount				800			800
Long-Term Line of Credit					200,000				$ 200,000
Line of Credit Facility, Remaining Borrowing Capacity					1,049,945				1,049,945
Line of Credit Facility, Current Borrowing Capacity					$ 822,111				$ 822,111
ABL Revolving Credit Facility [Member]
Write off of Deferred Debt Issuance Cost				197
Tranche B Term Loan Facility [Member]
Long-Term Debt, Maturity Date			Dec. 13, 2026
Line of Credit Facility, Maximum Borrowing Capacity			$ 1,200,000
Uncommitted Incremental Term Loan Facility			$ 300,000
Debt Instrument, SOFR Floor					0%				0%
Debt Instrument, Interest Rate, Effective Percentage					7.18%				7.18%
Repayments of Long-Term Debt, Total				$ 250,000
Gain (Loss) on Extinguishment of Debt, Total							$ 3,546
Tranche B Term Loan Facility [Member] | Maximum [Member]
Threshold for Secured Leverage Ratio Excess Cash Flow Payment Requirement									3.75
Secured Leverage Ratio									2.25
Tranche B Term Loan Facility [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			1.75%						0.75%
Tranche B Term Loan Facility [Member] | Adjusted LIBOR Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			2.75%
Tranche B Term Loan Facility [Member] | LIBOR Floor Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			0.75%
Tranche B Term Loan Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate									1.75%
Tranche A Term Loan Facility and Revolving Credit Facility [Member]
Long-Term Debt, Maturity Date				Jun. 29, 2027			Jun. 29, 2027
Debt Instrument, SOFR Floor		0%		0%			0%
Debt Instrument, Interest Rate, Effective Percentage					7.10%				7.10%
Tranche A Term Loan Facility and Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate								1.50%
Tranche A Term Loan Facility and Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		1.75%
Tranche A Term Loan Facility and Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		1.25%
Tranche A Term Loan Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity				$ 750,000			$ 750,000
[1]Represents the write-off of original issue discount and capitalized debt issuance costs due to voluntary debt prepayment.

Note 11 - Credit Agreements - L

Note 11 - Credit Agreements - Long-term Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Original issue discount and deferred financing costs	$ (13,666)	$ (16,568)
Finance lease obligation	30,235	27,420
Other	5,909	966
Total	1,502,478	1,381,818
Less: current portion of debt	33,823	10,083
Less: current portion of finance lease obligation	(3,514)	(2,650)
Total	1,465,141	1,369,085
Revolving Credit Facility [Member]
Revolving Facility	200,000	90,000
Tranche A Term Loan Facility [Member]
Term Loan	750,000	750,000
Tranche B Term Loan Facility [Member]
Term Loan	$ 530,000	$ 530,000

Note 11 - Credit Agreements - M

Note 11 - Credit Agreements - Maturities of Long-term Borrowings Outstanding (Details) $ in Thousands	Sep. 30, 2023 USD ($)
2023	$ 9,375
2024	28,125
2025	46,875
2026	595,625
2027	800,000
Total	1,480,000
Tranche A Term Loan Facility [Member]
2023	9,375
2024	28,125
2025	46,875
2026	65,625
2027	600,000
Total	750,000
Tranche B Term Loan Facility [Member]
2023	0
2024	0
2025	0
2026	530,000
2027	0
Total	530,000
ABL Revolving Credit Facility [Member]
2023	0
2024	0
2025	0
2026	0
2027	200,000
Total	$ 200,000

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		98 Months Ended
	Aug. 31, 2022	Sep. 30, 2020	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Aug. 05, 2022
Stock Repurchase Program, Authorized Amount		$ 250,000										$ 500,000
Stock Repurchase Program, Period in Force (Month)	24 years	24 months
Treasury Stock, Value, Acquired, Cost Method			$ 100,267			$ 123,900			$ 100,267	$ 123,900
Treasury Stock, Common [Member]
Treasury Stock, Shares, Acquired (in shares)			875,580			536,633			875,580	536,633
Treasury Stock, Value, Acquired, Cost Method			$ 100,267			$ 123,900			$ 100,267	$ 123,900
Stock Repurchase Program [Member] | Treasury Stock, Common [Member]
Treasury Stock, Shares, Acquired (in shares)			875,580	0	0	536,633	0	0			12,624,293
Treasury Stock, Value, Acquired, Cost Method			$ 100,267			$ 123,900					$ 877,396
Shares Acquired, Average Cost Per Share (in dollars per share)											$ 69.5

Note 13 - Earnings Per Share (D

Note 13 - Earnings Per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Payment Arrangement [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	370,000	85,000	344,000	44,000

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		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net income attributable to Generac Holdings Inc.		$ 60,377	$ 58,270	$ 118,005	$ 328,487
Redeemable noncontrolling interest redemption value adjustment		(46)	(5,225)	(10,883)	(30,817)
Net income attributable to common shareholders		$ 60,331	$ 53,045	$ 107,122	$ 297,670
Weighted average shares, basic (in shares)		61,368,440	63,249,881	61,552,949	63,480,161
Dilutive effect of stock compensation awards (in shares)	[1]	722,723	1,006,814	809,794	1,139,242
Dilutive effect of contingently issued shares (in shares)		0	10,943	0	10,943
Diluted shares (in shares)		62,091,163	64,267,638	62,362,743	64,630,346
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share)		$ 0.98	$ 0.84	$ 1.74	$ 4.69
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share)		$ 0.97	$ 0.83	$ 1.72	$ 4.61
[1]Excludes approximately 370,000 and 344,000 stock options and restricted stock awards for the three and nine months ended September 30, 2023, respectively, because they would be anti-dilutive. Excludes approximately 85,000 and 44,000 stock options and restricted stock awards for the three and nine months ended September 30, 2022, respectively, because they would be anti-dilutive.

Note 14 - Income Taxes (Details

Note 14 - Income Taxes (Details Textual)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Effective Income Tax Rate Reconciliation, Percent	26.40%	20.40%

Note 15 - Commitments and Con_2

Note 15 - Commitments and Contingencies (Details Textual) - USD ($)	Oct. 05, 2023	Aug. 23, 2023	Jun. 23, 2023	May 03, 2023	Aug. 01, 2022	Sep. 30, 2023	Dec. 31, 2022	Oct. 07, 2022
Amount Financed by Dealers						$ 168,500	$ 212,200
Power Home Solar, LLC [Member] | Collectibility of Receivables [Member]
Accounts Receivable, before Allowance for Credit Loss								$ 17,700
Consumer Product Safety Commission [Member]
Settlement Agreement, Civil Fine Payments				$ 15,800
Power Home Solar, LLC Against Generac Power Systems, Inc. [Member] | Minimum [Member]
Loss Contingency, Damages Sought, Value					$ 25,000
Case Nos. 21-cv-00428-ADA and 20-cv-00078-ADA [Member]
Litigation Settlement, Amount Awarded to Other Party		$ 5,400,000	$ 5,400,000
Case No. 22-cv-00072-JRG [Member] | Subsequent Event [Member]
Litigation Settlement, Amount Awarded to Other Party	$ 11,500,000