Alta Equipment (ALTG) 10-Q 10 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 06, 2022
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Registrant Name	ALTA EQUIPMENT GROUP INC.
Entity Central Index Key	0001759824
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	001-38864
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	83-2583782
Entity Address Address Line1	13211 Merriman Road
Entity Address City or Town	Livonia
Entity Address State or Province	MI
Entity Address Postal Zip Code	48150
City Area Code	248
Local Phone Number	449-6700
Document Quarterly Report	true
Document Transition Report	false
Entity Common Stock Shares Outstanding		32,454,025
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common stock, $0.0001 par value per share
Trading Symbol	ALTG
Security Exchange Name	NYSE
Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares
Trading Symbol	ALTG PRA
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash	$ 1.6	$ 2.3
Accounts receivable, net	189.3	182.7
Inventories, net	291	239.2
Prepaid expenses and other current assets	22.8	24.4
Total current assets	504.7	448.6
PROPERTY AND EQUIPMENT, NET	337	344.5
OPERATING LEASE RIGHT-OF-USE ASSETS, NET	101.9	102.6
OTHER ASSETS
Goodwill	43.5	41.9
Intangible assets, net	42	43.4
Other assets	1.5	1.6
Total other assets	87	86.9
TOTAL ASSETS	1,030.6	982.6
CURRENT LIABILITIES
Lines of credit, net	113.9	98.4
Current portion of long-term debt	2.7	2.6
Accounts payable	63.6	73.5
Customer deposits	18.6	16.7
Accrued expenses	46.5	39.3
Current operating lease liabilities	16.4	16.2
Other current liabilities	22	19.1
Total current liabilities	470.7	420.6
LONG-TERM LIABILITIES
Long-term debt, net of current portion	310.2	310
Finance lease obligations, net of current portion	9.7	9
Deferred revenue, net of current portion	3.8	4.2
Guaranteed purchase obligations, net of current portion	4.7	5.2
Long-term operating lease liabilities	88.3	88.4
Deferred tax liability	6.9	6.9
Other liabilities	3.3	3.6
TOTAL LIABILITIES	897.6	847.9
CONTINGENCIES - NOTE 12
STOCKHOLDERS’ EQUITY
Preferred stock, $0.0001 par value, 1,000,000 shares authorized, 1,200,000 Depositary Shares representing a 1/1000th fractional interest in a share of 10% Series A Cumulative Perpetual Preferred Stock, $0.0001 par value per share, issued and outstanding at March 31, 2022 and December 31, 2021, respectively
Common stock, $0.0001 par value, 200,000,000 shares authorized; 32,363,376 issued and outstanding at March 31, 2022 and December 31, 2021, respectively
Additional paid-in capital	217.7	217.4
Treasury stock	(5.9)	(5.9)
Accumulated deficit	(78.8)	(76.8)
TOTAL STOCKHOLDERS’ EQUITY	133	134.7
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	1,030.6	982.6
New Equipment
CURRENT LIABILITIES
Floor plan payable	147.5	114.2
Used and Rental Equipment
CURRENT LIABILITIES
Floor plan payable	$ 39.5	$ 40.6

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares	Dec. 31, 2021USD ($)$ / sharesshares
Accounts receivable, net of allowances | $	$ 11.9	$ 10.7
Preferred stock, par value | $ / shares	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Common stock, par value | $ / shares	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	32,363,376	32,363,376
Common stock, shares outstanding	32,363,376	32,363,376
Depository Shares
Preferred stock, shares issued	1,200,000	1,200,000
Preferred stock, shares outstanding	1,200,000	1,200,000
10% Series A Cumulative Perpetual Preferred Stock
Preferred stock, par value | $ / shares	$ 0.0001	$ 0.0001
Depositary receipt ratio	0.001	0.001
Preferred stock, dividend rate, percentage	10.00%	10.00%

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Net revenues	$ 331.7	$ 268.8
Cost of revenues:
Cost of revenues	240.3	201.5
Gross profit	91.4	67.3
General and administrative expenses	82.9	64.8
Depreciation and amortization expense	3.9	2
Total general and administrative expenses	86.8	66.8
Income from operations	4.6	0.5
Other (expense) income
Interest expense, floor plan payable – new equipment	(0.3)	(0.5)
Interest expense – other	(5.8)	(5.3)
Other income	0.3	0.1
Total other (expense) income	(5.8)	(5.7)
Loss before taxes	(1.2)	(5.2)
Income tax provision	0	0.5
Net loss	(1.2)	(5.7)
Preferred stock dividends	(0.8)
Net loss available to common shareholders	$ (2)	$ (5.7)
Basic loss per share	$ (0.06)	$ (0.19)
Diluted loss per share	$ (0.06)	$ (0.19)
Basic weighted average common shares outstanding	32,363,376	30,018,502
Diluted weighted average common shares outstanding	32,363,376	30,018,502
New and Used Equipment Sales
Revenues:
Net revenues	$ 151.6	$ 123.8
Cost of revenues:
Cost of revenues	123.9	106.5
Parts Sales
Revenues:
Net revenues	53.4	41.4
Cost of revenues:
Cost of revenues	36.7	28.7
Service Revenue
Revenues:
Net revenues	48.2	38.7
Cost of revenues:
Cost of revenues	20.1	14.5
Rental Revenue
Revenues:
Net revenues	37.7	33.1
Cost of revenues:
Cost of revenues	5.4	5.5
Rental Equipment Sales
Revenues:
Net revenues	40.8	31.8
Cost of revenues:
Cost of revenues	33.9	26.9
Rental Depreciation
Cost of revenues:
Cost of revenues	$ 20.3	$ 19.4

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (Unaudited) - USD ($) $ in Millions	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated (Deficit)	Treasury Stock
Balance at Dec. 31, 2020	$ 156.9			$ 216.2	$ (53.4)	$ (5.9)
Balance, shares at Dec. 31, 2020		1,200,000	30,018,502
Net loss	(5.7)				(5.7)
Share based compensation	0.3			0.3
Balance at Mar. 31, 2021	151.5			216.5	(59.1)	(5.9)
Balance, shares at Mar. 31, 2021		1,200,000	30,018,502
Balance at Dec. 31, 2021	134.7			217.4	(76.8)	(5.9)
Balance, shares at Dec. 31, 2021		1,200,000	32,363,376
Net loss	(1.2)				(1.2)
Dividends on preferred stock	(0.8)				(0.8)
Share based compensation	0.3			0.3
Balance at Mar. 31, 2022	$ 133			$ 217.7	$ (78.8)	$ (5.9)
Balance, shares at Mar. 31, 2022		1,200,000	32,363,376

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
OPERATING ACTIVITIES
Net loss	$ (1.2)	$ (5.7)
Adjustments to reconcile net loss to net cash flows provided by (used in) operating activities:
Depreciation and amortization	24.2	21.4
Amortization of debt discount and debt issuance costs	0.3	0.5
Imputed interest	0.1	0.1
Gain on sale of rental equipment	(6.8)	(4.9)
Inventory obsolescence	1.1	0.2
Provision for bad debt	1.2	0.6
Share based compensation	0.3	0.3
Changes in deferred taxes		0.5
Changes in:
Accounts receivable	(7.8)	(5.9)
Inventories	(82.6)	(33.4)
Proceeds from sale of rental equipment	40.8	31.8
Prepaid expenses and other assets	1.7	0.5
Proceeds from floor plans with manufacturers	127.1	84.8
Payments under floor plans with manufacturers	(105.4)	(86.9)
Accounts payable, accrued expenses, customer deposits, and other current liabilities	0.2	(3.8)
Leases, deferred revenue and other liabilities	0.1	0.5
Net cash (used in) provided by operating activities	(6.7)	0.6
INVESTING ACTIVITIES
Proceeds from the sale of assets	0.1	0.7
Expenditures for rental equipment	(15.1)	(6.2)
Expenditures for property and equipment	(1.8)	(1.5)
Expenditures for guaranteed purchase obligations	(0.6)	(0.9)
Expenditures for acquisitions, net of cash acquired	(1.2)	(1.9)
Net cash used in investing activities	(18.6)	(9.8)
FINANCING ACTIVITIES
Proceeds from lines of credit	86.3	73.5
Payments under lines of credit	(70.9)	(61.7)
Proceeds from floor plans with unaffiliated source	30.2	24.2
Payments under floor plans with unaffiliated source	(19.5)	(25.3)
Preferred dividends paid	(0.8)
Payments on long-term debt		(1.9)
Payments on finance lease obligations	(0.7)	(0.2)
Net cash provided by financing activities	24.6	8.6
NET CHANGE IN CASH	(0.7)	(0.6)
Cash, Beginning of year	2.3	1.2
Cash, End of period	1.6	0.6
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	$ 1.3	$ 5.3

Organization and Nature of Oper

Organization and Nature of Operations	3 Months Ended
	Mar. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF OPERATIONS	NOTE 1 — ORGANIZATION A ND NATURE OF OPERATIONS Alta Equipment Group Inc. and its subsidiaries (“Alta” or the “Company”) is engaged in the retail sale, service, and rental of material handling and construction equipment in the states of Michigan, Illinois, Indiana, Ohio, New York (including New York City in our Material Handling segment), Virginia and Florida as well as the New England region (including Boston) of the United States. Alta Equipment Holdings, Inc. is the holding company for Alta Enterprises, LLC. Alta Enterprises, LLC is the holding company for Alta Industrial Equipment Michigan; LLC; Alta Industrial Equipment Company, LLC; Alta Industrial Equipment New York, LLC; PeakLogix, LLC; Alta Material Handling New York State, LLC; Alta Construction Equipment, LLC; Alta Construction Equipment Illinois, LLC; Alta Heavy Equipment Services, LLC; NITCO, LLC; Alta Construction Equipment Florida, LLC; Alta Construction Equipment Ohio, LLC; Alta Construction Equipment New England, LLC; Alta Mine Services, LLC; Alta Construction Equipment New York, LLC; and Alta Electric Vehicles, LLC. Alta Construction Equipment, LLC is the holding company for Alta Kubota Michigan, LLC which is the holding company of Ginop Sales, Inc. Alta Electric Vehicles, LLC is the holding company for Alta Electric Vehicles North East, LLC and Alta Electric Vehicles South West, LLC. Unless the context otherwise requires, the use of the terms “the Company”, “we,” “us,” and “our” in these notes to the unaudited consolidated financial statements refers to Alta Equipment Group Inc. and its consolidated subsidiaries.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — SUMMARY OF SIGNIF ICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim consolidated financial statements include the consolidated accounts of the Company and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All significant intercompany transactions and balances have been eliminated in the preparation of the consolidated financial statements. Certain amounts in the prior year have been reclassified to conform with the presentation in the current year. The interim financial information is unaudited, but reflects all normal recurring adjustments that are, in the opinion of management, necessary to fairly present the information set forth herein. Operating results for the three months ended March 31, 2022 is not necessarily indicative of the results that may be expected for the year ending December 31, 2022, and therefore, the results and trends in these interim consolidated financial statements may not be the same for the entire year. These interim unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company’s 2021 Annual Report on Form 10-K. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are based on assumptions that we believe are reasonable under the circumstances. Due to the inherent uncertainty involved with estimates, actual results may differ. Impairment of Long-lived Assets The Company evaluates long-lived assets, such as property and equipment and intangible assets subject to amortization, for impairment whenever events or changes in circumstances indicate that the carrying value of any asset group may not be recoverable. If the estimated future cash flow (undiscounted and without interest charges) from the use of an asset are less than the carrying value, a write-down would be recorded to reduce the related asset to its estimated fair value. When reviewing long-lived assets for impairment, the Company groups long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. After evaluating and weighing all relevant events and circumstances, the Company did not identify any indications necessary to perform an interim impairment test for the long-lived assets as of and for the period ended March 31, 2022 . Goodwill Pursuant to the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 350, Intangibles-Goodwill and Other (“ASC 350”), goodwill is recorded as the excess of the consideration transferred plus the fair value of any non-controlling interest in the acquiree at the acquisition date over the fair values of the identifiable net assets acquired. The Company evaluates goodwill for impairment at least annually, or more frequently if triggering events occur or other impairment indicators arise which might impair recoverability. Impairment of goodwill is evaluated at the reporting unit level. A reporting unit is defined as an operating segment (i.e. before aggregation or combination), or one level below an operating segment (i.e. a component). A component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component. After evaluating and weighing all relevant events and circumstances, the Company concluded there was no triggering event that constitutes the need to perform a goodwill impairment test for the period ended March 31, 2022 . Revenue Recognition Revenues are recognized when control of promised goods or services is transferred to customers in an amount that reflects the consideration the business expects to be entitled to in exchange for those goods or services. Control is transferred when the customer has the ability to direct the use of and obtain the benefits from the goods or services. The majority of our sales agreements contain performance obligations satisfied at a point in time when control is transferred to the customer. For agreements with multiple performance obligations, which are infrequent, judgment is required to determine whether performance obligations specified in these agreements are distinct and should be accounted for as separate revenue transactions for recognition purposes. In these types of agreements, we generally allocate sales price to each distinct performance obligation based on the observable selling price. We enter into various equipment sale transactions with certain customers, whereby customers purchase equipment from us and then lease the equipment to a third party. In some cases, we provide a guarantee to repurchase the equipment back at the end of the lease term between the customer and third-party lessee at a set residual amount set forth in the initial sales contract or pay the customer for the deficiency, if any, between the sale proceeds received for the equipment and the guaranteed minimum resale value. We are precluded from recognizing a sale of equipment if we guarantee to repurchase the sold equipment back or guarantee the resale value of the equipment. Rather, these transactions are accounted for in accordance with ASC 842, Leases (“ASC 842”). The deferred revenue, with respect to the aforementioned sale transactions, represents the net proceeds upon the equipment’s initial transfer. These amounts, excluding the guaranteed residual value, are recognized into rental revenue on a pro-rata basis over the lease contract period up to the first exercise date of the guarantee. At March 31, 2022 and December 31, 2021, the total deferred revenue relating to these various equipment sale transactions amounted to $ 2.6 million and $ 2.9 million, respectively. The Company also recognized a liability for its guarantee to repurchase the equipment at the residual amounts of $ 6.9 million and $ 7.2 million as of March 31, 2022 and December 31, 2021, respectively. The Company also enters into various rental agreements whereby owned equipment is leased to customers. Revenue from the majority of rental agreements is recognized over the term of the agreement in accordance with ASC 842. A rental contract includes rates for daily, weekly or monthly use, and rental revenues are earned on a daily basis as rental contracts remain outstanding. Because the rental contracts can extend across multiple reporting periods, the Company records unbilled rental revenues and deferred rental revenues at the end of each reporting period. Unbilled rental revenues are included as a component of “Accounts receivable” on the Consolidated Balance Sheets. Rental equipment is also purchased outright (“rental conversions”). Rental revenue and revenue attributable to rental conversions, are recognized in “Rental revenue” and “Rental equipment sales” on the Consolidated Statements of Operations, respectively. The Company also enters into contracts with customers where it provides design and build solutions, automated equipment installation and system integration and software services, referred to herein as project-based revenues. These project-based revenues are recognized over time as the performance obligation is satisfied, determined using the cost-to-cost input method, based on contract costs incurred to date to total estimated contract costs. Revenue from recurring support services is recognized ratably over the contract period. The Company recognizes deferred revenue with respect to project-based revenues, service sales, and rental agreements. Deferred revenue with respect to service sales represents the unearned portion of fees related to guaranteed maintenance contracts for customers covering equipment they have previously purchased. These amounts are recognized based on an estimated rate at which the services are provided over the life of the contract. The Company also recognizes deferred revenue related to rental agreements. Total deferred revenue relating to project-based revenues, service sales agreements and rental agreements as of March 31, 2022 and December 31, 2021 was $ 18.8 million and $ 16.5 million, respectively. Periodic and ad-hoc maintenance service revenue is recognized upon completion of the service and the agreement of terms with the customer. Revenue from guaranteed maintenance contracts is recognized over the contract period in proportion to the costs expected to be incurred in performing services under the contract, typically three to five years . Payment terms vary by the type and location of the customer and the products or services offered. Generally, the time between when revenue is recognized, and payment is due is not significant. The Company does not evaluate whether the selling price includes a financing interest component for contracts that are less than a year, or if payment is expected to be received less than a year after the good or service has been provided. Sales and other taxes collected from customers and remitted to government authorities are accounted for on a net basis and, therefore, excluded from revenue. Shipping and handling costs are treated as fulfillment costs and are included in cost of revenues. Costs to obtain contracts, such as sales commissions, are expensed as incurred given that the terms of the contracts are generally less than one year . Under bill-and-hold arrangements, revenue is recognized when all configuration work is complete and the equipment has been set aside for final shipment, at which point the Company has determined control has been transferred. Income Taxes The Company was formed in 2020 for income tax purposes. Alta Enterprises, LLC was historically and remains a partnership for federal income tax purposes, with each partner being separately taxed on its share of taxable income (loss). There is no federal income tax expense (benefit) reflected in the Company’s financial statements for any period prior to the reverse recapitalization on February 14, 2020. As the activity resides in Alta Enterprises, LLC, the income tax impact to the Company represents the current income tax calculated at the Consolidated Return level (“Alta Equipment Group Inc and Subsidiaries”), and the deferred impact of the interest in the lower tier partnership. We use the guidance in FASB ASC Topic 740-270, Income Taxes Interim Reporting , where tax provision or benefit from income taxes for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items, if any, that are considered in the relevant period. At the end of each interim reporting period, we update our estimate of the annual effective tax rate, and if our estimated tax rate changes, we make a cumulative adjustment. The computation of the annual expected effective income tax rate at each interim period requires certain estimates and assumptions including, but not limited to, the expected income (loss) before income taxes for the year, projections of the proportion of income (and/or loss) earned and taxed, permanent and temporary differences, and the likelihood of the realizability of deferred tax assets generated in the current year. The estimates used to compute the provision or benefit for income taxes may change as new events occur, additional information is obtained or the Company’s tax environment changes. In addition, the effect of changes in enacted tax laws or rates, tax status, judgment on the realizability of a beginning-of-the-year deferred tax asset in future years or to the extent that the expected annual effective income tax rate changes, the effect of the change on prior interim periods is included in the income tax provision in the period in which the change in estimate occurs. We establish valuation allowances for our deferred tax assets if the amount of expected future taxable income is not likely to allow for the use of the deduction or credit. Share Based Compensation The Board of Directors approved the Company’s 2020 Omnibus Incentive Plan, which enables the Company to grant stock options, stock appreciation rights, restricted stock, restricted stock units ("RSUs"), performance stock units ("PSUs"), unrestricted stock, other share based awards and cash awards to directors, employees and consultants to improve the ability of the Company to attract, retain, and motivate individuals upon whom the Company’s sustained growth and financial success depend, by providing such persons with an opportunity to acquire or increase their proprietary interest in the Company. We measure the employee stock-based awards at grant-date fair value using provisions of ASC 718 – Stock Compensation and record compensation expense over the vesting period of the award. The number of PSUs granted depends on the Company's achievement of target performance goals, which may range from 0 % to 200 % of the target award amount. The PSUs vest ratably over two years after the one-year performance period. The Company made an accounting election to recognize forfeitures when they occur. The Company treats equity awards granted to non-employee directors similarly to the equity awards to employees. New Accounting Pronouncements Pronouncements Not Yet Adopted Financial Instruments — Credit Losses In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . This standard prescribes an impairment model (known as the current expected credit loss (“CECL”) model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses, which is intended to result in the timely recognition of losses. Under the CECL model, entities will estimate credit losses over the entire contractual term of the instrument from the date of initial recognition of the financial instrument. Measurement of expected credit losses is to be based on relevant forecasts that affect collectability. The scope of financial assets within the CECL methodology is broad and includes trade receivables from certain revenue transactions and certain off-balance sheet credit exposures. Different components of the guidance require modified retrospective or prospective adoption. As amended by ASU 2019-10, the ASU 2016-13 is effective for the annual reporting period beginning January 1, 2023. The Company believes ASU 2016-13 will only have applicability to the Company’s receivables from revenue transactions, or trade receivables, except those arising from rental revenues as ASU 2016-13 does not apply to receivables arising from operating leases. The Company is currently evaluating whether the new guidance, while limited to our non-operating lease trade receivables, will have an impact on the consolidated financial statements or existing internal controls.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2022
Revenue From Contract With Customer [Abstract]
REVENUE RECOGNITION	NOTE 3 — REVEN UE RECOGNITION We recognize revenue in accordance with two different accounting standards: 1) ASC 606 (which addresses revenue from contracts with customers) and 2) ASC 842 (which addresses lease revenue). Under ASC 606, revenues are recognized when control of promised goods or services is transferred to customers in an amount that reflects the consideration the business expects to be entitled to in exchange for those goods or services. Control is transferred when the customer has the ability to direct the use of and obtain the benefits from the goods or services. The majority of the Company’s sales agreements contain performance obligations satisfied at a point in time when control is transferred to the customer. For agreements with multiple performance obligations, which are infrequent, judgment is required to determine whether performance obligations specified in these agreements are distinct and should be accounted for as separate revenue transactions for recognition purposes. In these types of agreements, the Company generally allocates sales prices to each distinct performance obligation based on the observable selling price. Disaggregation of Revenues The following table summarizes the Company’s disaggregated revenues as presented in the Consolidated Statements of Operations for the three months ended March 31, 2022 and March 31, 2021, respectively, by revenue type, and by the applicable accounting standard. Three Months Ended Three Months Ended ASC 842 ASC 606 Total ASC 842 ASC 606 Total Revenues: New and used equipment sales $ — $ 151.6 $ 151.6 $ — $ 123.8 $ 123.8 Parts sales — 53.4 53.4 — 41.4 41.4 Service revenue — 48.2 48.2 — 38.7 38.7 Rental revenue 37.7 — 37.7 33.1 — 33.1 Rental equipment sales — 40.8 40.8 — 31.8 31.8 Net revenue $ 37.7 $ 294.0 $ 331.7 $ 33.1 $ 235.7 $ 268.8 The Company believes that the disaggregation of revenues from contracts to customers as summarized above, together with the discussion below, depicts how the nature, amount, timing and uncertainty of its revenues and cash flows are affected by economic factors. Leases revenues (ASC 842) New and used equipment sales: The Company enters into various equipment sale transactions with certain customers, whereby customers purchase equipment from the Company and then lease the equipment to a third party. In some cases, the Company provides a guarantee to repurchase the equipment back at the end of the lease term between the customer and third-party lessee at a set residual amount set forth in the initial sales contract or pay the customer for the deficiency, if any, between the sale proceeds received for the equipment and the guaranteed minimum resale value. The Company is precluded from recognizing a sale of equipment when it is obligated or has an option to repurchase or guarantees the resale value of the equipment to the customer for contracts determined to be operating leases. For these arrangements, because the Company generally receives the full amount of the consideration at the beginning of the arrangement, the Company initially records deferred revenue for the amount received and recognizes revenue on a pro-rata basis over the term of the contract under ASC 842. Rental revenue: Owned equipment rentals represent revenues from renting equipment. The Company accounts for these rental contracts as operating leases. The Company recognizes revenue from equipment rentals in the period earned, regardless of the timing of billing to customers. A rental contract includes rates for daily, weekly or monthly use, and rental revenues are earned on a daily basis as rental contracts remain outstanding. Because the rental contracts can extend across multiple reporting periods, the Company records unbilled rental revenues and deferred rental revenues at the end of each reporting period. Revenues from contracts with customers (ASC 606) Accounting for the different types of revenues pursuant to ASC 606 are discussed below. Substantially all of the Company’s revenues under ASC 606 are recognized at a point in time rather than over time. New and used equipment sales: With the exception of bill-and-hold arrangements, the Company’s revenues from the sale of new and used equipment are recognized at the time of delivery to, or pick-up by, the customer, which is when the customer obtains control of the promised good. Under bill-and-hold arrangements, revenue is recognized when all configuration work is complete and the equipment has been set aside for final shipment, at which point the Company has determined control has been transferred. The bill-and-hold arrangements primarily apply to sales when physical shipment of heavy equipment to the customer is prohibited by law (e.g. frost laws) or requested by the customer due to their inability to arrange freight simultaneous to revenue being recognized, both are limited circumstances. The customer equipment sold under a bill-and-hold arrangement is physically separated from Company inventory and that equipment cannot be used by the Company or sold to another customer. The Company does not offer material rights of return. The Company recognized approximately $ 16.7 million and $ 7.9 million in project-based revenues for the three months ended March 31, 2022 and March 31, 2021, respectively, from design and build projects, automated equipment installation and system integration services as the performance obligations were satisfied over time using the cost-to-cost input method, based on contract costs incurred to date to total estimated contract costs. Parts sales: Revenues from the sale of parts are recognized at the time of pick-up by the customer for over-the-counter sales transactions. For parts that are shipped to a customer, the Company elected to use a practical expedient of ASC 606 and treat such shipping activities as fulfillment costs, thereby recognizing revenues at the time of shipment. The Company does not offer material rights of return. Service revenue: The Company records service revenue primarily from guaranteed maintenance and periodic maintenance contracts with customers. The Company recognizes periodic maintenance service revenues at the time such services are completed, which is when the control of the promised services is transferred over to the customer. The Company recognizes guaranteed maintenance service revenues over-time using an input method of costs incurred to estimated costs over the life of the related contract. Revenue recognized from guaranteed maintenance contracts totaled $ 5.3 million and $ 4.3 million for the three months ended March 31, 2022 and March 31, 2021, respectively. The Company also records service revenue from warranty contracts whereby the Company performs service on behalf of an Original Equipment Manufacturer (“OEM”) or third-party warranty provider. The Company recognizes warranty revenues at the time such services are completed. Rental equipment sales: The Company also sells rental equipment from our rental fleet. These sales are recognized at the time of delivery to, or pick-up by, the customer, which is when the customer obtains control of the promised good. In some cases, certain rental agreements contain a rental purchase option, whereby the customer has an option to purchase the rented equipment during the term of the rental agreement. Revenues from the sale of rental equipment are recognized at the time the rental purchase option agreement has been approved and signed by both parties, as the equipment is already in the customer’s possession under the previous rental agreement, and therefore control has been transferred as title has been transferred. Contract costs The Company does not recognize assets associated with the incremental costs of obtaining a contract with a customer that the Company expects to recover (for example, a sales commission). Most of the Company’s revenue is recognized at a point in time or over a period of one year or less, and the Company has used the practical expedient that allows it to recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the Company otherwise would have recognized is one year or less. The amount of the costs associated with the revenue recognized over a period of greater than one year is insignificant. Receivables and contract assets and liabilities The Company has contract assets and contract liabilities associated with project-based contracts with customers. Contract assets are costs incurred in excess of billings for project-based revenue. Contract assets as of March 31, 2022 and December 31, 2021 were $ 5.0 million and $ 6.0 million, respectively. The deferred revenue (contract liabilities) includes the unearned portion of project-based revenue where revenue is recognized as performance obligations are satisfied over time using the cost-to-cost input method, based on contract costs incurred to date to total estimated contract costs. In addition, deferred revenue includes the unearned portion of revenue related to guaranteed maintenance service contracts for customers covering equipment previously purchased. These amounts are recognized based on an estimated rate at which the services are provided over the life of the contract. Deferred revenue also includes the net proceeds upon sale of equipment with certain guaranteed purchase obligations. In total, deferred revenue as of March 31, 2022 and December 31, 2021 was $ 21.4 million and $ 19.4 million, respectively. For the three months ended March 31, 2022, the Company recognized revenue of $ 2.3 million from the prior year ending deferred revenue balance. For the three months ended March 31, 2021 , the Company recognized revenue of $ 3.4 million from the December 31, 2020 deferred revenue balance. Consideration and Payment terms The Company’s revenues do not include material amounts of variable consideration under ASC 606. Payment terms may vary by the type of customer, location, and the type of products or services offered. The time between invoicing and when payment is due is not significant, and contracts do not generally include a significant financing component. Contracts with customers do not generally result in significant obligations associated with returns, refunds, or warranties. Contract estimates and judgments The Company’s revenues accounted for under ASC 606 generally do not require significant estimates or judgments as the transaction price is generally fixed and clearly stated in the customer contracts. Contracts generally do not include multiple performance obligations, and accordingly do not require estimates of the standalone selling price for each performance obligation. Substantially all of the Company’s revenues are recognized at a point in time and the timing of the satisfaction of the applicable performance obligations is readily determinable. The Company’s revenues under ASC 606 are generally recognized at the time of delivery to, or pick-up by, the customer.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 4 — RELATED PARTY TRANSACTIONS The Company leases a subset of its operating facilities from three real estate entities related through common ownership. Total rent expense under these lease agreements, all of which are classified as operating, was $1.2 million for both the three months ended March 31, 2022 and March 31, 2021. At March 31, 2022, the Company had net operating right-of-use assets and operating lease liabilities associated with related party leases of $ 23.2 million and $ 25.5 million , respectively. At December 31, 2021 the Company had net operating right-of-use assets and operating lease liabilities associated with related party leases of $ 24.0 million and $ 26.3 million, respectively. See Note 11, Leases, for a schedule of future minimum lease payments under operating leases with both related parties and unrelated third parties. Ryan Greenawalt, Tony Colucci, and Craig Brubaker collectively own an indirect, non-controlling minority interest in OneH2, Inc. (“OneH2”), which they each acquired through various transactions that took place in early 2018 and prior. Ryan Greenawalt is on the Board of Directors of OneH2. OneH2 is a privately held company that produces and delivers hydrogen fuel to end users. For 2021, the Company did no t make any purchases from OneH2. During the first quarter of 2022, the Company purchased approximately $ 25,000 of hydrogen fuel from OneH2 and has a vendor deposit of approximately $ 0.2 million as of March 31, 2022 .

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
INVENTORIES	NOTE 5 — INVENTORIES The components of inventories, net, consisted of the following (amounts in millions): March 31, December 31, 2022 2021 New equipment $ 186.7 $ 146.0 Used equipment 41.3 34.3 Work in process 8.6 6.7 Parts 58.9 55.7 Gross inventory $ 295.5 $ 242.7 Inventory reserves ( 4.5 ) ( 3.5 ) Inventories, net $ 291.0 $ 239.2 Direct labor of $ 2.1 million and $ 1.6 million incurred for open service orders were capitalized and included in work in process at March 31, 2022 and December 31, 2021, respectively. The remaining work in process balances as of March 31, 2022 and December 31, 2021 primarily represent parts applied to open service orders. Rental depreciation expense in connection with our new and used equipment was $ 1.4 million and $ 2.2 million for the three months ended March 31, 2022 and March 31, 2021 , respectively.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2022
Property Plant And Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 6 — PROPER TY AND EQUIPMENT Property and equipment, net, consisted of the following (amounts in millions): March 31, December 31, 2022 2021 Land $ 2.1 $ 2.1 Rental fleet 457.9 461.4 Equipment and leasehold improvements: Machinery and equipment 7.6 7.2 Autos and trucks 6.8 6.6 Leasehold improvements 11.4 10.6 Finance lease right-of-use assets 16.4 15.1 Office equipment 3.6 3.5 Computer equipment 11.3 11.1 Total cost $ 517.1 $ 517.6 Less: accumulated depreciation and amortization Rental fleet $ ( 154.9 ) $ ( 149.8 ) Equipment, autos and trucks, leasehold improvements, finance leases and office and computer equipment ( 25.2 ) ( 23.3 ) Total accumulated depreciation and amortization $ ( 180.1 ) $ ( 173.1 ) Property and equipment, net $ 337.0 $ 344.5 Total depreciation and amortization on property and equipment was $ 21.4 million and $ 18.5 million for the three months ended March 31, 2022 and March 31, 2021, respectively. The Company had assets related to finance leases with gross carrying values totaling $ 16.4 million and $ 15.1 million, and accumulated amortization balances totaling $ 4.3 million and $ 3.8 million, as of March 31, 2022 and December 31, 2021, respectively. Of the $ 457.9 million and $ 461.4 million of gross cost of rental fleet, $ 10.7 million and $ 9.7 million were represented by guaranteed purchase obligation assets as of March 31, 2022 and December 31, 2021 , respectively.

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
GOODWILL	NOTE 7 — GOODWILL The following table summarizes the changes in the carrying amount of goodwill in total and by reportable segment as of March 31, 2022 and December 31, 2021 (amounts in millions): Material Construction Total Balance, December 31, 2020 $ 10.2 $ 14.1 $ 24.3 Additions 1.4 17.6 19.0 Adjustments to purchase price allocations — ( 1.4 ) ( 1.4 ) Balance, December 31, 2021 $ 11.6 $ 30.3 $ 41.9 Adjustments to purchase price allocations — 1.6 1.6 Balance, March 31, 2022 $ 11.6 $ 31.9 $ 43.5 See Note 17, Business Combinations, for further information.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 8 — INT ANGIBLE ASSETS The gross carrying amount of intangible assets and accumulated amortization as of March 31, 2022 and December 31, 2021 were as follows (amounts in millions): March 31, 2022 Weighted Average Remaining Life (in years) Gross carrying Accumulated Net carrying Customer relationships 8.8 $ 44.8 $ ( 6.9 ) $ 37.9 Tradenames 4.2 4.5 ( 1.2 ) 3.3 Non-compete agreements 3.1 0.7 ( 0.3 ) 0.4 Internal use software 2.9 0.5 ( 0.1 ) 0.4 Total 8.3 $ 50.5 $ ( 8.5 ) $ 42.0 December 31, 2021 Weighted Average Remaining Life (in years) Gross carrying Accumulated Net carrying Customer relationships 9.0 $ 44.8 $ ( 5.9 ) $ 38.9 Tradenames 4.3 4.5 ( 0.9 ) 3.6 Non-compete agreements 3.3 0.7 ( 0.2 ) 0.5 Internal use software 3.2 0.5 ( 0.1 ) 0.4 Total 8.5 $ 50.5 $ ( 7.1 ) $ 43.4 Amortization of intangible assets was $ 1.4 million and $ 0.7 million for the three months ended March 31, 2022 and March 31, 2021, respectively. During the fourth quarter of 2021, the Company reassessed the useful lives of our intangible assets acquired from recent acquisitions. Given our rebranding efforts, the Company shortened the remaining useful lives of some tradename intangible assets resulting in accelerated amortization prospectively beginning in the fourth quarter of 2021.

Lines of Credit and Floor Plans

Lines of Credit and Floor Plans	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
LINES OF CREDIT AND FLOOR PLANS	NOTE 9 — LINES OF C REDIT AND FLOOR PLANS Line of Credit and Floor Plan — First Lien Lender On April 1, 2021, the Company entered into a Sixth Amended and Restated ABL First Lien Credit Agreement (the “Amended and Restated ABL Credit Agreement”) by and among Alta Equipment Group Inc. and the other credit parties named therein, the lenders named therein, JP Morgan Chase Bank, N.A., as Administrative Agent, and the syndication agents and documentation agent named therein, superseding and replacing the Fifth Amended and Restated ABL First Lien Credit Agreement. Under the Amended and Restated ABL Credit Agreement, the Company has an asset based revolving line of credit (the “ABL Facility”) with its first lien holder with advances on the line being supported by eligible accounts receivable, parts, and otherwise unencumbered new and used equipment inventory and rental equipment. The ABL Facility, which is collateralized by substantially all assets of the Company, has a maximum borrowing capacity of $ 350.0 million and interest cost is the Secured Overnight Financing Rate (“SOFR”) plus an applicable margin on the CB Floating Rate, depending on borrowing levels. As of March 31, 2022, the Company had an outstanding ABL Facility balance of $ 116.1 million, excluding unamortized debt issuance costs. The effective interest rate was 2.4 % at March 31, 2022. As of December 31, 2021, the Company had an outstanding ABL Facility balance of $ 100.7 million, excluding unamortized debt issuance costs. The effective interest rate was 2.3 % at December 31, 2021. On April 1, 2021, the Company entered into a Sixth Amended and Restated Floor Plan First Lien Credit Agreement ("Floor Plan Credit Agreement") by an among Alta Equipment Group, Inc. and the other credit parties names therein, and the lender JP Morgan Chase Bank, N.A., as Administrative Agent. Under the Floor Plan Credit Agreement, the Company has a first lien floor plan facility (the "First Lien Floor Plan Facility") with its first lien lender to primarily finance new inventory. This First Lien Floor Plan Facility has a maximum borrowing capacity of $ 50.0 million. The interest cost for the First Lien Floor Plan Facility is SOFR plus an applicable margin. The First Lien Floor Plan Facility is collateralized by substantially all assets of the Company. As of March 31, 2022, the Company had an outstanding balance on their First Lien Floor Plan Facility of $ 41.2 million, excluding unamortized debt issuance costs. The effective interest rate at March 31, 2022 was 2.9 % . As of December 31, 2021, the Company had an outstanding balance on their First Lien Floor Plan Facility of $ 30.6 million, excluding unamortized debt issuance costs. The effective interest rate at December 31, 2021 was 2.8 % . The Company routinely sells equipment that is financed under the First Lien Floor Plan Facility. When this occurs the payable under the First Lien Floor Plan Facility related to the financed equipment being sold becomes due to be paid. Original Equipment Manufacturer (“OEM”) Captive Lenders and Suppliers’ Floor Plans The Company has floor plan financing facilities with several OEM captive lenders and suppliers (the “OEM Floor Plan Facilities”, and together with the First Lien Floor Plan Facility, collectively the “Floor Plan Facilities”) for new and used inventory and rental equipment, each with borrowing capacities ranging from $ 0.1 million to $ 102.0 million. Primarily, the Company utilizes the OEM Floor Plan Facilities for purchases of new equipment inventories. Certain OEM Floor Plan Facilities provide for up to twelve-months interest only or deferred payment periods. In addition, certain OEM Floor Plan Facilities regularly provide for interest and principal free payment terms. The Company routinely sells equipment that is financed under OEM Floor Plan Facilities. When this occurs the payable under the OEM Floor Plan Facilities related to the financed equipment being sold becomes due to be paid. With the recent acquisitions, some of the Company’s OEM Floor Plan Facilities were amended to include new locations and new entities. The OEM Floor Plan Facilities are secured by the equipment being financed, and contain certain operating company guarantees. The interest cost is SOFR plus an applicable margin. The effective rates, excluding the favorable effect of interest-subsidies, as of March 31, 2022 ranged from 3.1 % to 5.2 % . As of March 31, 2022 and December 31, 2021, the Company had an outstanding balance on the OEM Floor Plan Facilities of $ 145.9 million and $ 124.3 million, respectively. The total aggregate amount of financing under the Floor Plan Facilities cannot exceed $40 0.0 million at any time. The total outstanding balance under the Floor Plan Facilities as of March 31, 2022 and December 31, 2021, was $ 187.1 million and $ 154.9 million, respectively, excluding unamortized debt issuance costs. For the three months ended March 31, 2022 and March 31, 2021, the Company recognized interest expense associated with new equipment financed under its Floor Plan Facilities of $ 0.3 million and $ 0.5 million, respectively. Maximum borrowings under the floor plans and ABL Facility are limited to $ 750.0 million unless certain other conditions are met. The total amount outstanding as of March 31, 2022 and December 31, 2021, was $ 303.2 million and $ 255.6 million, exclusive of debt issuance and deferred financings costs of $ 2.3 million and $ 2.4 million, respectively.

Long-term Debt

Long-term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
LONG-TERM DEBT	NOTE 10 — LO NG-TERM DEBT Senior Secured Second Lien Notes On April 1, 2021, the Company completed a private offering of Senior Secured Second Lien Notes (the “Notes”), for the purposes of, among other things, repayment and refinancing of a portion of the Company’s prior existing debt, reducing interest rate exposure and providing liquidity for financing of future growth initiatives. The Company sold $ 315.0 million of 5.625 % Notes which are due in 2026. The Notes are guaranteed (the “Guarantees” and, together with the Notes, the “Securities”) by the guarantors that are party thereto (the “Guarantors”) on a second lien, senior secured basis. The Notes were sold in a private placement in reliance on Rule 144A and Regulation S under the Securities Act of 1933, as amended, pursuant to a purchase agreement among the Company, the Guarantors, and J.P. Morgan Securities LLC, as representative of the initial purchasers. The Notes are guaranteed by each of our existing and future domestic subsidiaries that become a borrower or guarantor under our or the Guarantors’ indebtedness, including the Credit Agreements, as amended and restated concurrently with the closing of the Notes offering. The Notes and the Guarantees are secured, subject to certain exceptions and permitted liens, by second-priority liens on substantially all of our assets and the assets of the Guarantors that secure on a first-priority basis all of the indebtedness under our ABL Facility and the Floor Plan Facility and certain hedging and cash management obligations, including, but not limited to, equipment, fixtures, inventory, intangibles and capital stock of our restricted subsidiaries now owned or acquired in the future by us or the Guarantors. The Notes bear interest at the rate of 5.625 % per annum and will mature on April 15, 2026 . Interest on the Notes is payable in cash on April 15 and October 15 of each year, beginning on October 15, 2021. The April 15, 2022 interest payment was made on or about April 15, 2022. As of March 31, 2022, outstanding borrowings under the Notes were $ 310.2 million, which included $ 4.8 million deferred financing costs and original issue discounts. The effective interest rate on the Notes, taking into account the original issue discount, is 5.93 % . Term Loan On February 14, 2020, the Company entered into a Note Purchase Agreement for a second lien term loan (the “Term Loan”) in an aggregate principal amount of $ 155.0 million with a second priority lien lender through syndication, with an initial maturity date of August 2025 . The term loan was payable, at the lender’s option, in quarterly installments of $ 1.9 million plus interest cost at SOFR plus 8 %. On April 1, 2021, in connection with the issuance of the new Notes, the Company repaid all of its outstanding obligations under the Term Loan, $ 147.3 million, completely discharging the Company of any further obligations to the lender. Extinguishment of Debt In the second quarter of 2021, and in connection with the repayment of the Term Loan, the Company recorded a loss on the extinguishment of debt in the amount of $ 11.9 million in the line item Loss on extinguishment of debt in its Consolidated Statements of Operations. This was in accordance with ASC Topic No. 470-50, Debt – Modifications and Extinguishments , as the transaction was determined to be an extinguishment of the existing debt and an issuance of new debt. The Company’s long-term debt consists of the following (amounts in millions): March 31, December 31, 2022 2021 High yield notes $ 315.0 $ 315.0 Unamortized debt issuance costs ( 1.0 ) ( 1.0 ) Debt discount ( 3.8 ) ( 4.0 ) Finance leases 12.4 11.6 Total debt and finance leases $ 322.6 $ 321.6 Less: current maturities ( 2.7 ) ( 2.6 ) Long-term debt and finance leases, net $ 319.9 $ 319.0 As of March 31, 2022, the Company was in compliance with the financial covenants set forth in its debt agreements. Notes Payable – Non-Contingent Consideration The Company acquired all the assets of Peaklogix, Inc ("PeakLogix") on June 12, 2020. Pursuant to the asset purchase agreement, sellers are entitled to additional cash payments of a minimum of $ 2.0 million throughout a 5-year earn-out period. As of March 31, 2022, the Company recorded a $ 1.9 million liability which included $ 1.7 million related to present value of these minimum cash payments using a market participant discount rate and $ 0.2 million of imputed interest. As of December 31, 2021, the liability was $ 1.8 million. This additional future liability is recorded as non-contingent liability in “Other current liabilities” and “Other liabilities” on the Consolidated Balance Sheets. See Note 16, Fair Value Instruments, and Note 17, Business Combinations, for further information. Promissory Note On June 12, 2020, the Company entered into an unsecured promissory note for $ 1.0 million at an interest rate of 6.0 % on the unpaid principal sum in connection with the PeakLogix acquisition which was due one year from the date of the acquisition and recorded in “Other current liabilities”. During the second quarter of 2021, the Promissory Note of $ 1.1 million, inclusive of accrued interest, was paid in full.

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
LEASES	NOTE 11 — LEASES The Company adopted ASC 842 and all related amendments effective for the annual reporting period ended December 31, 2021, with an effective date of January 1, 2021, using the modified retrospective method. Comparative 2021 results have been recast to reflect the adoption of ASC 842. The Company determines if an arrangement is a lease at inception. Operating leases are included in "Operating lease right-of-use assets, net", "Current operating lease liabilities" and "Long-term operating lease liabilities, net of current portion" on the Company’s Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021. Finance leases are included in "Property and equipment, net", "Current portion of long-term debt", and "Finance lease obligations, net of current portion" on the Company’s Consolidated Balance Sheets. Lease right-of-use assets are recognized at commencement date based upon the present value of the remaining future minimum lease payments over the lease term. The Company’s lease terms include options to renew or terminate the lease when it is reasonably certain that it will exercise the option. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based upon information available at the commencement date to determine the present value of future lease payments. The Company applies the portfolio approach for the incremental borrowing rate on its leases based upon similar lease term and payments. The lease right-of-use asset also includes lease payments made in advance of lease commencement and excludes lease incentives. Operating lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components. For real estate leases, these components are accounted for as a single lease component. For all equipment leases excluding vehicles, the lease and non-lease components are accounted for as a single lease component. For vehicle leases, these components are accounted for separately. Variable lease expenses include payments based upon changes in a rate or index, such as consumer price indexes, as well as usage of the leased asset. Short-term lease expenses include leases with terms, at lease commencement, of 12 months or less and no purchase option reasonably certain to be exercised, including leases with a duration of one month or less. Low-value lease expense includes leases with terms, at lease commencement, of greater than 12 months, but do not meet our capitalization threshold, which is consistent with our property and equipment capitalization threshold. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants; however, there are certain lease agreements that include guaranteed purchase obligations for lift trucks. The Company primarily has operating and finance leases for branch facilities, corporate office, and certain equipment which encompass both related party and third-party leases. The Company’s leases have remaining lease terms that range from less than one year to leases that mature through March 2037 and contain provisions to renew the leases for additional terms of five to twenty years . The Company leases and subleases certain lift trucks to customers under short and long-term operating lease agreements. The sublease income is included in Rental revenue on our Consolidated Statements of Operations. The costs of the head lease for these subleases are included in operating lease expense below. At March 31, 2022 and December 31, 2021, assets recorded under finance leases, net of accumulated depreciation were $ 12.1 million and $ 11.3 million, respectively. The assets are depreciated over the lower of their related lease terms or their estimated useful lives. The components of lease expense (including related party leases) were as follows (amounts in millions): Three Months Ended March 31, 2022 2021 Operating lease expense $ 6.0 $ 5.8 Short-term lease expense 1.0 1.7 Low-value lease expense — 0.2 Variable lease expense 1.2 — Finance lease expense: Amortization of right-of-use assets 0.8 0.2 Interest on lease liabilities 0.2 0.1 Total lease expense $ 9.2 $ 8.0 Other information related to leases is presented in the table below (amounts in millions unless otherwise noted): Supplemental Cash Flows Information Three Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 5.8 $ 5.6 Operating cash flows for finance leases 0.2 0.1 Financing cash flows for finance leases 0.7 0.2 Non-cash right-of-use assets obtained in exchange for lease obligations: Operating leases 3.8 5.1 Finance leases 1.5 4.5 Weighted Average Remaining Lease Term (in years): Operating leases 7.3 7.1 Finance leases 4.7 4.6 Weighted Average Discount Rate (in %): Operating leases 6.6 6.2 Finance leases 5.6 5.5 Minimum future lease payments under non-cancellable operating and finance leases described above as of March 31, 2022 were as follows (amounts in millions): Years Operating Leases Finance Leases Remainder of 2022 $ 16.9 $ 2.5 2023 21.2 3.0 2024 19.9 2.9 2025 16.9 2.7 2026 14.3 2.0 Thereafter 45.2 0.9 Total future minimum lease payments $ 134.4 $ 14.0 Less: imputed interest ( 29.7 ) ( 1.6 ) Total $ 104.7 $ 12.4 Amounts recognized in the Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021 March 31, 2022 December 31, 2021 Current portion of long-term debt $ 2.7 $ 2.6 Current operating lease liabilities 16.4 16.2 Finance lease obligations, net of current portion 9.7 9.0 Long-term operating lease liabilities, net of current portion 88.3 88.4 $ 117.1 $ 116.2 As of March 31, 2022, the Company had additional leases, substantially all real estate and vehicles, that primarily replace expiring leases on certain assets and have not yet commenced with undiscounted lease payments of $ 4.3 million. These leases are expected to commence in 2022 with lease terms up to 10 years. See Note 12, Contingencies, for more information on certain contracts where the Company guarantees the performance of the third-party lessee.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments And Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE 12 — CONTIN GENCIES Guarantees As of March 31, 2022 and December 31, 2021, the Company was party to certain contracts in which it guarantees the performance of agreements between third-party lessees and various third-party financial institutions. The terms of the guarantees range from two to five years . In the event of a default by a third-party lessee, the Company would be required to pay all or a portion of the remaining unpaid obligations as specified in the contract. The estimated exposure related to these guarantees was $ 1.6 million and $ 1.7 million at March 31, 2022 and December 31, 2021 , respectively. It is anticipated that the third parties will have the ability to repay the debt without the Company having to honor the guarantee; therefore, no amount has been accrued on the Consolidated Balance Sheets at March 31, 2022 and December 31, 2021, respectively. Legal Proceedings During the three months ended March 31, 2022 and March 31, 2021, various claims and lawsuits, incidental to the ordinary course of our business, were pending against the Company. In the opinion of management, after consultation with legal counsel, resolution of these matters is not expected to have a material effect on the Company’s consolidated financial statements. Contractual Obligations The Company does not believe there are any off-balance sheet arrangements that have, or are reasonably likely to have, a material effect on the Company. As of March 31, 2022 and December 31, 2021 there was $ 3.4 million in outstanding letters of credits issued in the normal course of business.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 13 — INCOME T AXES The Company accounts for income taxes under the asset and liability method. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted rates in effect for the year in which the difference is expected to reverse. Additionally, the impact of changes in the tax rates and laws on deferred taxes, if any, is reflected in the financial statement in the period of enactment. The deferred tax liabilities and assets for the Company represent the difference between the financial statement and tax basis of the partnership interest in Alta Enterprises, LLC. The Company is using the single line-item approach for financial statement presentation of deferred tax assets and liabilities. The income tax provision for the three months ended March 31, 2022 and March 31, 2021, respectively, consisted of the following (amounts in millions): Three Months Ended March 31, 2022 2021 Federal taxes-current $ — $ — Federal taxes-deferred — 0.4 State taxes-current — — State taxes-deferred — 0.1 $ — $ 0.5 Our tax provision or benefit from income taxes for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items, if any, that are considered in the relevant period. At the end of each interim reporting period, we update our estimate of the annual effective tax rate, and if our estimated tax rate changes, we make a cumulative adjustment. The Company recorded an income tax expense of $ 0.0 million and $ 0.5 million for the three months ended March 31, 2022 and March 31, 2021, respectively. As a result of Alta’s first quarter 2022 analysis of the realizability of its deferred tax asset, and after considering tax planning initiatives and other inputs, Alta determined that it was more likely than not that deferred tax asset would not be realized and has thus maintained a full valuation allowance against the deferred tax asset. Alta reviews the realizability of its deferred tax asset on a quarterly basis, or whenever events or changes in circumstances indicate that a review is required. In determining the requirement for a valuation allowance, the historical and projected financial results are considered, along with any other positive or negative evidence. All of the factors that Alta considers in evaluating whether and when to establish or release all or a portion of the deferred tax asset valuation allowance involve significant judgment. The effective tax rate for the three months ended March 31, 2022 and March 31, 2021was 0.0 % and ( 8.8 )% , respectively. The effective income tax rate in 2021 was primarily due to the impact of the establishment of the valuation allowance. As of December 31, 2021 , the Company has federal net operating tax loss carryforwards of approximately $ 42.7 million, which may be carried forward indefinitely and are eligible to offset 80 % of future taxable income. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, includes various income and payroll tax provisions, modifications to federal net operating loss rules, business interest deduction limitations, and bonus depreciation eligibility for qualified improvement property. The CARES Act did not materially impact our effective tax rate for prior periods, although it will impact the timing of future cash payments for taxes. Under the CARES Act, as of both March 31, 2022 and December 31, 2021, we have deferred employer payroll taxes of $ 5.0 million.

Equity

Equity	3 Months Ended
	Mar. 31, 2022
Equity And Warrants [Abstract]
EQUITY	NOTE 14 — EQUITY Preferred Stock On December 22, 2020, the Company closed its underwritten public offering of depositary shares, each representing 1/1000 th of a share of 10 % Series A Preferred Stock, par value $ 0.0001 per share. The liquidation preference of each share of Series A Preferred Stock is $ 25,000 ($ 25.00 per Depositary Share). At the closing, the Company issued 1,200 shares of Series A Preferred Stock represented by 1,200,000 Depositary Shares issued. We will pay cumulative cash dividends on the Series A Preferred Stock, when and as declared by our Board of Directors, at the rate of 10 % of the $ 25,000 liquidation preference ($ 25.00 per depositary share) per year (equivalent to $ 2,500 or $ 2.50 per depositary share). Dividends are payable quarterly in arrears, on or about the last day of January, April, July and October, which began on or about April 30, 2021; provided that if any dividend payment date is not a business day, then the dividend which would otherwise have been payable on that dividend payment date may be paid on the next succeeding business day, and no interest, additional dividends or other sums will accumulate. Dividends will accumulate and be cumulative from, and including December 22, 2020, the date of original issuance. On April 9, 2021, the Company declared a cash dividend $ 0.89 per depositary share, which was paid on April 30, 2021 to holders of record as of the close of business on April 15, 2021. This dividend payment covered the period from and including December 22, 2020 through, but not including April 30, 2021. On July 2, 2021, the Company declared a cash dividend $ .625 per depository share, which was paid on August 2, 2021 to holders of record as of the close of business on July 15, 2021. The dividend payment covered the period from and including April 30, 2021 through, but not including July 31, 2021. On October 4, 2021, the Company declared a cash dividend $ 0.625 per depository share, which was paid on November 1, 2021 to holders of record as of the close of business on October 15, 2021. The dividend payment covered the period from and including July 31, 2021 through, but not including October 31, 2021. On January 4, 2022, the Company declared a cash dividend $ 0.625 per depository share, which was paid on January 31, 2022 to holders of record as of the close of business on January 15, 2022. The dividend payment covered the period from and including October 31, 2021 through, but not including January 31, 2022. Warrants On April 12, 2021, we exchanged all 8,668,746 of our outstanding warrants into shares of our common stock at an exchange ratio of 0.263 shares of common stock per warrant, for an aggregate issuance of approximately 2,279,874 shares of common stock in the exchange.

Share Based Compensation

Share Based Compensation	3 Months Ended
	Mar. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
SHARE BASED COMPENSATION	NOTE 15 — SHARE BASED COMPENSATION During the quarter ended March 31, 2022, the Compensation Committee of our Board of Directors approved the grant of 91,270 shares of RSUs and 292,901 shares of PSUs to certain directors, officers and employees of the Company under the 2020 Omnibus Incentive Plan. The Company’s plan is to have broad-based, long-term programs intended to attract and retain talented employees and align stockholder and employee interests. We calculated the fair value of the RSUs and PSUs at grant date based on the closing market price of our common stock at the date of grant. The compensation expense is recognized on a straight-line basis over the requisite vesting period of the award. The number of PSUs granted depends on the Company's achievement of target performance goals, which may range from 0 % to 200 % of the target award amount. The PSUs vest ratably over two years after the one-year performance period. The Company recognized total compensation expense of $ 0.3 million for both the three months ended March 31, 2022 and March 31, 2021, substantially all related to RSUs. As of March 31, 2022, the total unrecognized compensation expense related to the non-vested portion of the Company's restricted stock and performance stock awards was $ 6.3 million , which is expected to be recognized over a weighted average period of 2.2 years. The following table summarizes our RSUs and PSUs that were granted and vested during the three months ended March 31, 2022: Restricted Stock Units Performance Stock Units Number of units Weighted average grant date fair value Number of units Weighted average grant date fair value Unvested units as of December 31, 2021 309,292 $ 9.71 — $ — Granted 91,270 12.14 292,901 12.14 Vested - issued — — — — Vested - unissued ( 118,649 ) 10.16 — — Unvested units as of March 31, 2022 281,913 $ 10.31 292,901 $ 12.14

Fair Value Instruments

Fair Value Instruments	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE INSTRUMENTS	NOTE 16 — FAIR VALUE INSTRUMENTS The carrying value of financial instruments reported in the accompanying Consolidated Balance Sheets for cash, accounts receivable, accounts payable and accrued expenses payable and other liabilities approximate fair value due to the immediate or short-term nature or maturity of these financial instruments. Based upon current borrowing rates with similar maturities, which are Level 2 fair value inputs, the carrying value of lines of credit, long-term debt, and the guaranteed purchase obligations approximates the fair value as of March 31, 2022 and December 31, 2021. The following is a description of the valuation methodologies used for assets and liabilities measured at fair value on a recurring basis: Contingent Consideration The contingent consideration liability represents the fair value of the future earn-out liability that the Company may be required to pay in conjunction with the acquisitions upon the achievement of certain performance milestones. The earn-out for the acquisitions is measured at fair value in each reporting period, based on Level 3 inputs, with any change to the fair value recorded in the Consolidated Statements of Operations. PeakLogix The purchase agreement for the PeakLogix acquisition provides for earn-out payments of a minimum of $ 2.0 million up to $ 3.7 million which can be earned through June 30, 2025 based on meeting certain performance milestones. We estimated the fair value of the incremental $ 1.7 million earn-out payment based on a probability weighted range of outcomes analysis and applied a discount rate that appropriately captures a market participant's view of the risk associated with the obligation. This analysis considered the earn-out payment thresholds, the minimum and maximum range of earn-out payments per the agreement and the expected future cash flows of PeakLogix. The Company concluded the future minimum cash payments of $ 2.0 million will be treated as a non-contingent liability and recorded a $ 1.7 million liability related to the present value of these minimum cash payments at the acquisition date in “Other liabilities” on the Consolidated Balance Sheets. As of March 31, 2022, the non-contingent liability recorded is $1.9 million in “Other current liabilities” and “Other liabilities”. See Note 10, Long-Term Debt, and Note 17, Business Combinations, for further information. In addition to the non-contingent liability, there is a potential earn-out payment of $ 1.7 million to be paid to sellers over a five-year period. The Company recorded a $ 1.0 million earn-out liability as the acquisition date fair value in “Other liabilities” on the Consolidated Balance Sheets. The earn-out was remeasured at December 31, 2021 resulting in a $ 0.4 million increase in fair value. The remeasurement impact was included in the Consolidated Statements of Operations. As of March 31, 2022, the contingent liability recorded is $ 1.5 million in “Other current liabilities” and “Other liabilities” on the Consolidated Balance Sheets. Hilo Equipment & Services (“Hilo”) The purchase agreement for the Hilo acquisition provides an earn-out payment of $ 1.0 million based on meeting a certain financial target which can be earned through July 1, 2023. We estimated the fair value of the earn-out liability based on the present value of probability weighted expected future results and recorded a $ 0.8 million earn-out liability as the acquisition date fair value in “Other liabilities” on the Consolidated Balance Sheets. At December 31, 2021, the earn-out was remeasured resulting in a decrease of $ 0.4 million in fair value. The earn-out will be remeasured at each balance sheet date using this approach and any resulting increase or decrease will be reflected in the Consolidated Statements of Operations. Going forward, volatility in the amount of Hilo’s actual results and forecasted scenarios could impact the fair value of this contingent consideration. As of March 31, 2022, the contingent liability recorded is $ 0.5 million in “Other liabilities” on the Consolidated Balance Sheets. See Note 17, Business Combinations, for further information. Ginop Sales, Inc ("Ginop") The purchase agreement for the Ginop acquisition provides an opportunity for earn-out payments up to $ 1.5 million based on meeting certain financial targets which can be earned through December 31, 2023. We estimated the fair value of the incremental earn-out payment based on a probability weighted range of outcomes analysis and applied a discount rate that appropriately captures a market participant's view of the risk associated with the obligation. This analysis considered the earn-out payment thresholds, the minimum and maximum range of earn-out payments per the agreement and the expected future results of Ginop. The earn-out will be remeasured at each balance sheet date using this approach and any resulting increase or decrease will be reflected in the Consolidated Statements of Operations. The Company recorded a $ 0.9 million earn-out liability as the acquisition date fair value in “Other liabilities” on the Consolidated Balance Sheets. Going forward, volatility in the amount of Ginop’s actual results and forecasted scenarios could impact the fair value of this contingent consideration. As of March 31, 2022, the contingent liability recorded is $ 0.9 million in “Other current liabilities” and “Other liabilities” on the Consolidated Balance Sheets. See Note 17, Business Combinations, for further information. The following table sets forth, by level of hierarchy, the Company’s recurring measures at fair value as of March 31, 2022 and December 31, 2021, which was presented in “Other current liabilities” and “Other liabilities” on the Consolidated Balance Sheets (amounts in millions): March 31, 2022 Level 1 Level 2 Level 3 Liabilities: contingent consideration $ — $ — $ 2.9 December 31, 2021 Level 1 Level 2 Level 3 Liabilities: contingent consideration $ — $ — $ 2.8 The following is a summary of changes to Level 3 instruments as of March 31, 2022 and December 31, 2021 (amounts in millions): Contingent Consideration Balance, January 1, 2021 $ 1.8 Acquisition of Ginop 0.9 Change in fair value 0.1 Balance, December 31, 2021 $ 2.8 Changes in fair value 0.1 Balance, March 31, 2022 $ 2.9

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2022
Business Combinations [Abstract]
BUSINESS COMBINATIONS	NOTE 17 — BUSIN ESS COMBINATIONS The following table summarizes the net assets acquired from the acquisitions in 2021 (amounts in millions): ScottTech Baron Gibson Midwest Mine Ambrose Ginop Total Cash $ 0.5 $ — $ — $ 0.4 $ 0.2 $ 0.7 $ 1.8 Accounts receivable 0.9 — 2.4 3.3 1.5 0.4 8.5 Inventory 0.3 0.3 3.6 1.4 9.0 14.7 29.3 Prepaid and other assets 0.1 0.3 0.5 — — — 0.9 Rental fleet, net — — 8.8 0.9 3.4 — 13.1 Property and equipment, net 0.4 0.2 1.0 1.3 0.7 — 3.6 Intangible assets 0.9 — — 1.3 2.5 15.2 19.9 Goodwill 0.6 0.8 0.3 1.1 3.8 14.0 20.6 Total Assets $ 3.7 $ 1.6 $ 16.6 $ 9.7 $ 21.1 $ 45.0 $ 97.7 Floor plan payable — — ( 4.4 ) — ( 3.3 ) ( 9.4 ) ( 17.1 ) Accounts payable ( 0.3 ) — ( 0.6 ) ( 1.5 ) ( 1.6 ) ( 1.1 ) ( 5.1 ) Accrued expenses ( 0.1 ) — ( 0.3 ) ( 0.2 ) ( 1.9 ) ( 0.2 ) ( 2.7 ) Other current liabilities ( 0.9 ) ( 0.3 ) — ( 1.1 ) — ( 0.4 ) ( 2.7 ) Deferred tax liability — — — — — ( 3.7 ) ( 3.7 ) Other liabilities — — ( 0.7 ) — — — ( 0.7 ) Total liabilities $ ( 1.3 ) $ ( 0.3 ) $ ( 6.0 ) $ ( 2.8 ) $ ( 6.8 ) $ ( 14.8 ) $ ( 32.0 ) Net Assets Acquired $ 2.4 $ 1.3 $ 10.6 $ 6.9 $ 14.3 $ 30.2 $ 65.7 Assets acquired net of cash $ 1.9 $ 1.3 $ 10.6 $ 6.5 $ 14.1 $ 29.5 $ 63.9 Ginop On December 31, 2021, the Company acquired the stock of Ginop, a privately held construction and agricultural equipment distributor, for a total purchase price of $ 30.2 million, which includes $ 0.9 million of the potential $ 1.5 million additional earn-out payments tied to post closing performance of the Ginop business. The Company acquired $ 0.7 million of cash and $ 0.3 million of estimated excess working capital in the transaction, yielding an enterprise value of approximately $ 29.2 million. The acquisition strengthens our construction product and service offerings in Northern Michigan and expands our relationship with Kubota. The estimated fair values of assets acquired, and liabilities assumed are provisional and are based on the information that was available as of the balance sheet date. The Company expects to finalize the valuation and complete the purchase price allocation as soon as practical but no later than one year from the acquisition date. Costs and expenses related to the acquisition have been expensed as incurred in operating expenses. The following table summarizes the components of the purchase price at December 31, 2021 (amounts in millions): Cash consideration paid * $ 29.3 Earn-out liability 0.9 Total purchase price $ 30.2 * Includes $ 0.7 million cash acquired as part of the Business Combination Ambrose Equipment, LLC ("Ambrose") On December 31, 2021, the Company acquired the assets of Ambrose, a privately held construction equipment distributor, for a total purchase price of $ 14.3 million, including a $ 1.2 million adjustment to the purchase price which occurred subsequent to the 2021 year-end audit. The Company acquired $ 0.2 million of cash and $ 0.6 million of estimated working capital deficit in the transaction, yielding an enterprise value of approximately $ 14.7 million. Ambrose has been the Northeast’s premier asphalt equipment dealer for more than 33 years, with locations in New Hampshire and Massachusetts. The estimated fair values of assets acquired, and liabilities assumed are provisional and are based on the information that was available as of the balance sheet date. The Company expects to finalize the valuation and complete the purchase price allocation as soon as practical but no later than one year from the acquisition date. Costs and expenses related to the acquisition have been expensed as incurred in operating expenses. Midwest Mine Services, LLC ("Midwest Mine") On December 1, 2021, the Company acquired the assets of Midwest Mine for a total purchase price of $ 6.9 million. Midwest Mine fabricates, and installs full aggregate processing plants for quarries, mines and recycling operations throughout the United States and is well-established in the Ohio and Michigan markets. The estimated fair values of assets acquired, and liabilities assumed are provisional and are based on the information that was available as of the balance sheet date. The Company expects to finalize the valuation and complete the purchase price allocation as soon as practical but no later than one year from the acquisition date. Costs and expenses related to the acquisition have been expensed as incurred in operating expenses. Gibson Machinery, LLC ("Gibson") On October 1, 2021, the Company acquired the assets of Gibson, a privately held premium equipment distributor, for a total purchase price of $ 10.6 million. The acquisition included $ 1.2 million of floorplan-eligible new equipment inventory and the Company assumed $ 4.4 million of equipment financing at closing, yielding an enterprise value at close of approximately $ 13.8 million. Gibson expands our geographic footprint and presence into Ohio and broadens our construction equipment product portfolio, OEM relationships, and service offerings. The estimated fair values of assets acquired, and liabilities assumed are provisional and are based on the information that was available as of the balance sheet date. The Company expects to finalize the valuation and complete the purchase price allocation as soon as practical but no later than one year from the acquisition date. Costs and expenses related to the acquisition have been expensed as incurred in operating expenses. Baron Industries ("Baron") On September 1, 2021, the Company acquired Baron, a privately held dock & door business, for a total purchase price of $ 1.3 million. Baron specializes in commercial overhead loading dock doors and equipment, hydraulic lifts, and vertical reciprocating conveyors. The acquisition is another step in the Company’s strategy to build out a full-service warehousing and logistics offering within the Material Handling segment. The estimated fair values of assets acquired, and liabilities assumed are provisional and are based on the information that was available as of the balance sheet date. The Company expects to finalize the valuation and complete the purchase price allocation as soon as practical but no later than one year from the acquisition date. Costs and expenses related to the acquisition have been expensed as incurred in operating expenses. ScottTech, LLC ("ScottTech") On March 1, 2021, the Company acquired all the assets of ScottTech, a material handling, warehouse control software, and turn-key warehouse system integration services provider, for a total purchase price of $ 2.4 million, paid out of available funds. The acquisition has been accounted for as a purchase business combination. Under the purchase method of accounting, the assets acquired, and liabilities assumed have been recorded at the acquisition date at their respective fair values in our consolidated financial statements. The fair value of accounts receivable was determined based on the acquisition date net book value and an evaluation of amounts deemed recoverable through subsequent collection. The fair value of inventory and property and equipment were estimated to approximate their respective acquisition date net book values. Costs and expenses related to the acquisition were expensed as incurred in operating expenses.

Segments

Segments	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
SEGMENTS	NOTE 18 — SEGMENTS The Company has two reportable segments: Material Handling and Construction Equipment. The “Material Handling” segment has been previously reported as our “Industrial” segment. The Company’s segments are determined based on management structure, which is organized based on types of products sold, as described in the following paragraph. The operating results for each segment are reported separately to the Company’s Chief Executive Officer to make decisions regarding the allocation of resources, to assess the Company’s operating performance and to make strategic decisions. The Material Handling segment is principally engaged in operations related to the sale, service, and rental of lift trucks and other material handling equipment in Michigan, Illinois, Indiana, New York (including New York City), Virginia as well as the New England region (including Boston) of the United States. As of March 31, 2022, the Material Handling segment included the ScottTech and Baron acquisitions and their related results for the quarter. The Construction Equipment segment is principally engaged in operations related to the sale, service, and rental of construction equipment in Michigan, Illinois, Indiana, Ohio, New York, Florida and the New England region (including Boston) of the United States. As of March 31, 2022 the Construction Equipment segment includes the Gibson, Midwest Mine, Ambrose, and Ginop acquisitions and their related results for the quarter. The Company retains various unallocated expense items at the general corporate level, which the Company refers to as “Corporate” in the table below. Corporate holds corporate debt and has minor activity all together. Corporate incurs expenses associated with compensation (including share based compensation) of our directors, corporate officers and certain members of our shared-services leadership team, consulting and legal fees related to acquisitions and capital raising activities, corporate governance and compliance related matters, certain corporate development related expenses, interest expense associated with original issue discounts and deferred financing cost related to previous capital raises, and the Company’s income tax provision. The following table presents the Company’s results of operations by reportable segment for the three months ended March 31, 2022 (amounts in millions): Three Months Ended March 31, 2022 Material Construction Corporate Total New and used equipment sales $ 66.9 $ 84.7 $ — $ 151.6 Parts sales 19.2 34.2 — 53.4 Service revenue 26.7 21.5 — 48.2 Rental revenue 12.8 24.9 — 37.7 Rental equipment sales — 40.8 — 40.8 Total revenue $ 125.6 $ 206.1 $ — $ 331.7 Interest expense 2.3 3.5 0.3 6.1 Depreciation and amortization 5.3 18.9 — 24.2 Net income (loss) $ 4.0 $ ( 2.1 ) $ ( 3.9 ) $ ( 2.0 ) The following table presents the Company’s results of operations by reportable segment for the three months ended March 31, 2021 (amounts in millions): Three Months Ended March 31, 2021 Material Construction Corporate Total New and used equipment sales $ 57.4 $ 66.4 $ — $ 123.8 Parts sales 15.2 26.2 — 41.4 Service revenue 22.6 16.1 — 38.7 Rental revenue 11.1 22.0 — 33.1 Rental equipment sales 0.5 31.3 — 31.8 Total revenue $ 106.8 $ 162.0 $ — $ 268.8 Interest expense 2.2 3.1 0.5 5.8 Depreciation and amortization 4.6 16.8 — 21.4 Net income (loss) $ 1.3 $ ( 3.3 ) $ ( 3.7 ) $ ( 5.7 ) The following table presents the Company’s identified assets by reportable segment for the period ending March 31, 2022 and December 31, 2021 (amounts in millions): March 31, December 31, Segment assets: Material handling $ 339.9 $ 325.1 Construction equipment 689.3 655.8 Corporate 1.4 1.7 Total assets $ 1,030.6 $ 982.6

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 19 — EAR NINGS PER SHARE Basic earnings per share is calculated by dividing net income by the weighted average number of shares outstanding during the period. Diluted earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding, after giving effect to all potential dilutive common shares outstanding during the period. We include all common shares granted under our share-based compensation plan which remain unvested (RSUs and PSUs), in the number of shares outstanding for our diluted EPS calculations using the treasury method. Basic and diluted earnings per share for the three months ended March 31, 2022 and March 31, 2021 were calculated as follows (amounts in millions, except per share amounts): Three Months Ended 2022 2021 Basic net loss per share Net loss $ ( 2.0 ) $ ( 5.7 ) Basic weighted average common shares outstanding 32,363,376 30,018,502 Basic net loss per share of common stock $ ( 0.06 ) $ ( 0.19 ) Diluted loss per share Net loss $ ( 2.0 ) $ ( 5.7 ) Basic weighted average common shares outstanding 32,363,376 30,018,502 Effect of dilutive securities: Effect of dilutive non-vested restricted stock units — — Diluted weighted average common shares outstanding 32,363,376 30,018,502 Diluted net loss per share of common stock $ ( 0.06 ) $ ( 0.19 ) Securities excluded from the calculation of diluted loss per share were approximately 223,000 and 91,000 for the three months ended March 31, 2022 and March 31, 2021 , respectively, because the inclusion of such securities in the calculation would have been anti-dilutive.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 20 — SUB SEQUENT EVENTS On April 12, 2022, Alta Equipment Group Inc. announced the appointment of Craig Brubaker as Chief Operating Officer, a new position at the company, effective immediately. Previously, Mr. Brubaker held positions as Systems Manager, Rental Manager, General Service Manager, Regional Operations Manager, and Vice President of Operations. As Chief Operating Officer Mr. Brubaker will report to Alta’s Chief Executive Officer, Ryan Greenawalt, and oversee day-to-day operations of both Material Handling and Construction Equipment segments.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim consolidated financial statements include the consolidated accounts of the Company and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All significant intercompany transactions and balances have been eliminated in the preparation of the consolidated financial statements. Certain amounts in the prior year have been reclassified to conform with the presentation in the current year. The interim financial information is unaudited, but reflects all normal recurring adjustments that are, in the opinion of management, necessary to fairly present the information set forth herein. Operating results for the three months ended March 31, 2022 is not necessarily indicative of the results that may be expected for the year ending December 31, 2022, and therefore, the results and trends in these interim consolidated financial statements may not be the same for the entire year. These interim unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company’s 2021 Annual Report on Form 10-K.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are based on assumptions that we believe are reasonable under the circumstances. Due to the inherent uncertainty involved with estimates, actual results may differ.
Impairment of Long-lived Assets	Impairment of Long-lived Assets The Company evaluates long-lived assets, such as property and equipment and intangible assets subject to amortization, for impairment whenever events or changes in circumstances indicate that the carrying value of any asset group may not be recoverable. If the estimated future cash flow (undiscounted and without interest charges) from the use of an asset are less than the carrying value, a write-down would be recorded to reduce the related asset to its estimated fair value. When reviewing long-lived assets for impairment, the Company groups long-lived assets with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. After evaluating and weighing all relevant events and circumstances, the Company did not identify any indications necessary to perform an interim impairment test for the long-lived assets as of and for the period ended March 31, 2022 .
Goodwill	Goodwill Pursuant to the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 350, Intangibles-Goodwill and Other (“ASC 350”), goodwill is recorded as the excess of the consideration transferred plus the fair value of any non-controlling interest in the acquiree at the acquisition date over the fair values of the identifiable net assets acquired. The Company evaluates goodwill for impairment at least annually, or more frequently if triggering events occur or other impairment indicators arise which might impair recoverability. Impairment of goodwill is evaluated at the reporting unit level. A reporting unit is defined as an operating segment (i.e. before aggregation or combination), or one level below an operating segment (i.e. a component). A component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component. After evaluating and weighing all relevant events and circumstances, the Company concluded there was no triggering event that constitutes the need to perform a goodwill impairment test for the period ended March 31, 2022 .
Revenue Recognition	Revenue Recognition Revenues are recognized when control of promised goods or services is transferred to customers in an amount that reflects the consideration the business expects to be entitled to in exchange for those goods or services. Control is transferred when the customer has the ability to direct the use of and obtain the benefits from the goods or services. The majority of our sales agreements contain performance obligations satisfied at a point in time when control is transferred to the customer. For agreements with multiple performance obligations, which are infrequent, judgment is required to determine whether performance obligations specified in these agreements are distinct and should be accounted for as separate revenue transactions for recognition purposes. In these types of agreements, we generally allocate sales price to each distinct performance obligation based on the observable selling price. We enter into various equipment sale transactions with certain customers, whereby customers purchase equipment from us and then lease the equipment to a third party. In some cases, we provide a guarantee to repurchase the equipment back at the end of the lease term between the customer and third-party lessee at a set residual amount set forth in the initial sales contract or pay the customer for the deficiency, if any, between the sale proceeds received for the equipment and the guaranteed minimum resale value. We are precluded from recognizing a sale of equipment if we guarantee to repurchase the sold equipment back or guarantee the resale value of the equipment. Rather, these transactions are accounted for in accordance with ASC 842, Leases (“ASC 842”). The deferred revenue, with respect to the aforementioned sale transactions, represents the net proceeds upon the equipment’s initial transfer. These amounts, excluding the guaranteed residual value, are recognized into rental revenue on a pro-rata basis over the lease contract period up to the first exercise date of the guarantee. At March 31, 2022 and December 31, 2021, the total deferred revenue relating to these various equipment sale transactions amounted to $ 2.6 million and $ 2.9 million, respectively. The Company also recognized a liability for its guarantee to repurchase the equipment at the residual amounts of $ 6.9 million and $ 7.2 million as of March 31, 2022 and December 31, 2021, respectively. The Company also enters into various rental agreements whereby owned equipment is leased to customers. Revenue from the majority of rental agreements is recognized over the term of the agreement in accordance with ASC 842. A rental contract includes rates for daily, weekly or monthly use, and rental revenues are earned on a daily basis as rental contracts remain outstanding. Because the rental contracts can extend across multiple reporting periods, the Company records unbilled rental revenues and deferred rental revenues at the end of each reporting period. Unbilled rental revenues are included as a component of “Accounts receivable” on the Consolidated Balance Sheets. Rental equipment is also purchased outright (“rental conversions”). Rental revenue and revenue attributable to rental conversions, are recognized in “Rental revenue” and “Rental equipment sales” on the Consolidated Statements of Operations, respectively. The Company also enters into contracts with customers where it provides design and build solutions, automated equipment installation and system integration and software services, referred to herein as project-based revenues. These project-based revenues are recognized over time as the performance obligation is satisfied, determined using the cost-to-cost input method, based on contract costs incurred to date to total estimated contract costs. Revenue from recurring support services is recognized ratably over the contract period. The Company recognizes deferred revenue with respect to project-based revenues, service sales, and rental agreements. Deferred revenue with respect to service sales represents the unearned portion of fees related to guaranteed maintenance contracts for customers covering equipment they have previously purchased. These amounts are recognized based on an estimated rate at which the services are provided over the life of the contract. The Company also recognizes deferred revenue related to rental agreements. Total deferred revenue relating to project-based revenues, service sales agreements and rental agreements as of March 31, 2022 and December 31, 2021 was $ 18.8 million and $ 16.5 million, respectively. Periodic and ad-hoc maintenance service revenue is recognized upon completion of the service and the agreement of terms with the customer. Revenue from guaranteed maintenance contracts is recognized over the contract period in proportion to the costs expected to be incurred in performing services under the contract, typically three to five years . Payment terms vary by the type and location of the customer and the products or services offered. Generally, the time between when revenue is recognized, and payment is due is not significant. The Company does not evaluate whether the selling price includes a financing interest component for contracts that are less than a year, or if payment is expected to be received less than a year after the good or service has been provided. Sales and other taxes collected from customers and remitted to government authorities are accounted for on a net basis and, therefore, excluded from revenue. Shipping and handling costs are treated as fulfillment costs and are included in cost of revenues. Costs to obtain contracts, such as sales commissions, are expensed as incurred given that the terms of the contracts are generally less than one year . Under bill-and-hold arrangements, revenue is recognized when all configuration work is complete and the equipment has been set aside for final shipment, at which point the Company has determined control has been transferred.
Income Taxes	Income Taxes The Company was formed in 2020 for income tax purposes. Alta Enterprises, LLC was historically and remains a partnership for federal income tax purposes, with each partner being separately taxed on its share of taxable income (loss). There is no federal income tax expense (benefit) reflected in the Company’s financial statements for any period prior to the reverse recapitalization on February 14, 2020. As the activity resides in Alta Enterprises, LLC, the income tax impact to the Company represents the current income tax calculated at the Consolidated Return level (“Alta Equipment Group Inc and Subsidiaries”), and the deferred impact of the interest in the lower tier partnership. We use the guidance in FASB ASC Topic 740-270, Income Taxes Interim Reporting , where tax provision or benefit from income taxes for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items, if any, that are considered in the relevant period. At the end of each interim reporting period, we update our estimate of the annual effective tax rate, and if our estimated tax rate changes, we make a cumulative adjustment. The computation of the annual expected effective income tax rate at each interim period requires certain estimates and assumptions including, but not limited to, the expected income (loss) before income taxes for the year, projections of the proportion of income (and/or loss) earned and taxed, permanent and temporary differences, and the likelihood of the realizability of deferred tax assets generated in the current year. The estimates used to compute the provision or benefit for income taxes may change as new events occur, additional information is obtained or the Company’s tax environment changes. In addition, the effect of changes in enacted tax laws or rates, tax status, judgment on the realizability of a beginning-of-the-year deferred tax asset in future years or to the extent that the expected annual effective income tax rate changes, the effect of the change on prior interim periods is included in the income tax provision in the period in which the change in estimate occurs. We establish valuation allowances for our deferred tax assets if the amount of expected future taxable income is not likely to allow for the use of the deduction or credit.
Share Based Compensation	Share Based Compensation The Board of Directors approved the Company’s 2020 Omnibus Incentive Plan, which enables the Company to grant stock options, stock appreciation rights, restricted stock, restricted stock units ("RSUs"), performance stock units ("PSUs"), unrestricted stock, other share based awards and cash awards to directors, employees and consultants to improve the ability of the Company to attract, retain, and motivate individuals upon whom the Company’s sustained growth and financial success depend, by providing such persons with an opportunity to acquire or increase their proprietary interest in the Company. We measure the employee stock-based awards at grant-date fair value using provisions of ASC 718 – Stock Compensation and record compensation expense over the vesting period of the award. The number of PSUs granted depends on the Company's achievement of target performance goals, which may range from 0 % to 200 % of the target award amount. The PSUs vest ratably over two years after the one-year performance period. The Company made an accounting election to recognize forfeitures when they occur. The Company treats equity awards granted to non-employee directors similarly to the equity awards to employees.
New Accounting Pronouncements	New Accounting Pronouncements Pronouncements Not Yet Adopted Financial Instruments — Credit Losses In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . This standard prescribes an impairment model (known as the current expected credit loss (“CECL”) model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses, which is intended to result in the timely recognition of losses. Under the CECL model, entities will estimate credit losses over the entire contractual term of the instrument from the date of initial recognition of the financial instrument. Measurement of expected credit losses is to be based on relevant forecasts that affect collectability. The scope of financial assets within the CECL methodology is broad and includes trade receivables from certain revenue transactions and certain off-balance sheet credit exposures. Different components of the guidance require modified retrospective or prospective adoption. As amended by ASU 2019-10, the ASU 2016-13 is effective for the annual reporting period beginning January 1, 2023. The Company believes ASU 2016-13 will only have applicability to the Company’s receivables from revenue transactions, or trade receivables, except those arising from rental revenues as ASU 2016-13 does not apply to receivables arising from operating leases. The Company is currently evaluating whether the new guidance, while limited to our non-operating lease trade receivables, will have an impact on the consolidated financial statements or existing internal controls.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue From Contract With Customer [Abstract]
Summary of Disaggregated Revenues	The following table summarizes the Company’s disaggregated revenues as presented in the Consolidated Statements of Operations for the three months ended March 31, 2022 and March 31, 2021, respectively, by revenue type, and by the applicable accounting standard. Three Months Ended Three Months Ended ASC 842 ASC 606 Total ASC 842 ASC 606 Total Revenues: New and used equipment sales $ — $ 151.6 $ 151.6 $ — $ 123.8 $ 123.8 Parts sales — 53.4 53.4 — 41.4 41.4 Service revenue — 48.2 48.2 — 38.7 38.7 Rental revenue 37.7 — 37.7 33.1 — 33.1 Rental equipment sales — 40.8 40.8 — 31.8 31.8 Net revenue $ 37.7 $ 294.0 $ 331.7 $ 33.1 $ 235.7 $ 268.8

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Summary of Components of Inventories, Net	The components of inventories, net, consisted of the following (amounts in millions): March 31, December 31, 2022 2021 New equipment $ 186.7 $ 146.0 Used equipment 41.3 34.3 Work in process 8.6 6.7 Parts 58.9 55.7 Gross inventory $ 295.5 $ 242.7 Inventory reserves ( 4.5 ) ( 3.5 ) Inventories, net $ 291.0 $ 239.2

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2022
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net, consisted of the following (amounts in millions): March 31, December 31, 2022 2021 Land $ 2.1 $ 2.1 Rental fleet 457.9 461.4 Equipment and leasehold improvements: Machinery and equipment 7.6 7.2 Autos and trucks 6.8 6.6 Leasehold improvements 11.4 10.6 Finance lease right-of-use assets 16.4 15.1 Office equipment 3.6 3.5 Computer equipment 11.3 11.1 Total cost $ 517.1 $ 517.6 Less: accumulated depreciation and amortization Rental fleet $ ( 154.9 ) $ ( 149.8 ) Equipment, autos and trucks, leasehold improvements, finance leases and office and computer equipment ( 25.2 ) ( 23.3 ) Total accumulated depreciation and amortization $ ( 180.1 ) $ ( 173.1 ) Property and equipment, net $ 337.0 $ 344.5

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill in Total and by Reportable Segment	The following table summarizes the changes in the carrying amount of goodwill in total and by reportable segment as of March 31, 2022 and December 31, 2021 (amounts in millions): Material Construction Total Balance, December 31, 2020 $ 10.2 $ 14.1 $ 24.3 Additions 1.4 17.6 19.0 Adjustments to purchase price allocations — ( 1.4 ) ( 1.4 ) Balance, December 31, 2021 $ 11.6 $ 30.3 $ 41.9 Adjustments to purchase price allocations — 1.6 1.6 Balance, March 31, 2022 $ 11.6 $ 31.9 $ 43.5

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Gross Carrying Amount of Intangible Assets and Accumulated Amortization	The gross carrying amount of intangible assets and accumulated amortization as of March 31, 2022 and December 31, 2021 were as follows (amounts in millions): March 31, 2022 Weighted Average Remaining Life (in years) Gross carrying Accumulated Net carrying Customer relationships 8.8 $ 44.8 $ ( 6.9 ) $ 37.9 Tradenames 4.2 4.5 ( 1.2 ) 3.3 Non-compete agreements 3.1 0.7 ( 0.3 ) 0.4 Internal use software 2.9 0.5 ( 0.1 ) 0.4 Total 8.3 $ 50.5 $ ( 8.5 ) $ 42.0 December 31, 2021 Weighted Average Remaining Life (in years) Gross carrying Accumulated Net carrying Customer relationships 9.0 $ 44.8 $ ( 5.9 ) $ 38.9 Tradenames 4.3 4.5 ( 0.9 ) 3.6 Non-compete agreements 3.3 0.7 ( 0.2 ) 0.5 Internal use software 3.2 0.5 ( 0.1 ) 0.4 Total 8.5 $ 50.5 $ ( 7.1 ) $ 43.4

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt	The Company’s long-term debt consists of the following (amounts in millions): March 31, December 31, 2022 2021 High yield notes $ 315.0 $ 315.0 Unamortized debt issuance costs ( 1.0 ) ( 1.0 ) Debt discount ( 3.8 ) ( 4.0 ) Finance leases 12.4 11.6 Total debt and finance leases $ 322.6 $ 321.6 Less: current maturities ( 2.7 ) ( 2.6 ) Long-term debt and finance leases, net $ 319.9 $ 319.0

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Components of Lease Expense (Includes Related Party Leases)	The components of lease expense (including related party leases) were as follows (amounts in millions): Three Months Ended March 31, 2022 2021 Operating lease expense $ 6.0 $ 5.8 Short-term lease expense 1.0 1.7 Low-value lease expense — 0.2 Variable lease expense 1.2 — Finance lease expense: Amortization of right-of-use assets 0.8 0.2 Interest on lease liabilities 0.2 0.1 Total lease expense $ 9.2 $ 8.0
Schedule of Other Information Related to Leases	Other information related to leases is presented in the table below (amounts in millions unless otherwise noted): Supplemental Cash Flows Information Three Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 5.8 $ 5.6 Operating cash flows for finance leases 0.2 0.1 Financing cash flows for finance leases 0.7 0.2 Non-cash right-of-use assets obtained in exchange for lease obligations: Operating leases 3.8 5.1 Finance leases 1.5 4.5 Weighted Average Remaining Lease Term (in years): Operating leases 7.3 7.1 Finance leases 4.7 4.6 Weighted Average Discount Rate (in %): Operating leases 6.6 6.2 Finance leases 5.6 5.5
Schedule of Minimum Future Lease Payments under Non-cancellable Operating and Finance Leases	Minimum future lease payments under non-cancellable operating and finance leases described above as of March 31, 2022 were as follows (amounts in millions): Years Operating Leases Finance Leases Remainder of 2022 $ 16.9 $ 2.5 2023 21.2 3.0 2024 19.9 2.9 2025 16.9 2.7 2026 14.3 2.0 Thereafter 45.2 0.9 Total future minimum lease payments $ 134.4 $ 14.0 Less: imputed interest ( 29.7 ) ( 1.6 ) Total $ 104.7 $ 12.4 Amounts recognized in the Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021 March 31, 2022 December 31, 2021 Current portion of long-term debt $ 2.7 $ 2.6 Current operating lease liabilities 16.4 16.2 Finance lease obligations, net of current portion 9.7 9.0 Long-term operating lease liabilities, net of current portion 88.3 88.4 $ 117.1 $ 116.2

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Income Tax Provision	The income tax provision for the three months ended March 31, 2022 and March 31, 2021, respectively, consisted of the following (amounts in millions): Three Months Ended March 31, 2022 2021 Federal taxes-current $ — $ — Federal taxes-deferred — 0.4 State taxes-current — — State taxes-deferred — 0.1 $ — $ 0.5

Share Based Compensation (Table

Share Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Restricted Stock and Performance Stock Units were Granted and Vested	The following table summarizes our RSUs and PSUs that were granted and vested during the three months ended March 31, 2022: Restricted Stock Units Performance Stock Units Number of units Weighted average grant date fair value Number of units Weighted average grant date fair value Unvested units as of December 31, 2021 309,292 $ 9.71 — $ — Granted 91,270 12.14 292,901 12.14 Vested - issued — — — — Vested - unissued ( 118,649 ) 10.16 — — Unvested units as of March 31, 2022 281,913 $ 10.31 292,901 $ 12.14

Fair Value Instruments (Tables)

Fair Value Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Summary of Recurring Measures at Fair Value by Level of Hierarchy	The following table sets forth, by level of hierarchy, the Company’s recurring measures at fair value as of March 31, 2022 and December 31, 2021, which was presented in “Other current liabilities” and “Other liabilities” on the Consolidated Balance Sheets (amounts in millions): March 31, 2022 Level 1 Level 2 Level 3 Liabilities: contingent consideration $ — $ — $ 2.9 December 31, 2021 Level 1 Level 2 Level 3 Liabilities: contingent consideration $ — $ — $ 2.8
Summary of Changes to Level 3 Instruments	The following is a summary of changes to Level 3 instruments as of March 31, 2022 and December 31, 2021 (amounts in millions): Contingent Consideration Balance, January 1, 2021 $ 1.8 Acquisition of Ginop 0.9 Change in fair value 0.1 Balance, December 31, 2021 $ 2.8 Changes in fair value 0.1 Balance, March 31, 2022 $ 2.9

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Mar. 31, 2022
Business Acquisition [Line Items]
Summary of Net Assets Acquired from Acquisition	The following table summarizes the net assets acquired from the acquisitions in 2021 (amounts in millions): ScottTech Baron Gibson Midwest Mine Ambrose Ginop Total Cash $ 0.5 $ — $ — $ 0.4 $ 0.2 $ 0.7 $ 1.8 Accounts receivable 0.9 — 2.4 3.3 1.5 0.4 8.5 Inventory 0.3 0.3 3.6 1.4 9.0 14.7 29.3 Prepaid and other assets 0.1 0.3 0.5 — — — 0.9 Rental fleet, net — — 8.8 0.9 3.4 — 13.1 Property and equipment, net 0.4 0.2 1.0 1.3 0.7 — 3.6 Intangible assets 0.9 — — 1.3 2.5 15.2 19.9 Goodwill 0.6 0.8 0.3 1.1 3.8 14.0 20.6 Total Assets $ 3.7 $ 1.6 $ 16.6 $ 9.7 $ 21.1 $ 45.0 $ 97.7 Floor plan payable — — ( 4.4 ) — ( 3.3 ) ( 9.4 ) ( 17.1 ) Accounts payable ( 0.3 ) — ( 0.6 ) ( 1.5 ) ( 1.6 ) ( 1.1 ) ( 5.1 ) Accrued expenses ( 0.1 ) — ( 0.3 ) ( 0.2 ) ( 1.9 ) ( 0.2 ) ( 2.7 ) Other current liabilities ( 0.9 ) ( 0.3 ) — ( 1.1 ) — ( 0.4 ) ( 2.7 ) Deferred tax liability — — — — — ( 3.7 ) ( 3.7 ) Other liabilities — — ( 0.7 ) — — — ( 0.7 ) Total liabilities $ ( 1.3 ) $ ( 0.3 ) $ ( 6.0 ) $ ( 2.8 ) $ ( 6.8 ) $ ( 14.8 ) $ ( 32.0 ) Net Assets Acquired $ 2.4 $ 1.3 $ 10.6 $ 6.9 $ 14.3 $ 30.2 $ 65.7 Assets acquired net of cash $ 1.9 $ 1.3 $ 10.6 $ 6.5 $ 14.1 $ 29.5 $ 63.9
Ginop
Business Acquisition [Line Items]
Summary of Purchase Price Allocation	The following table summarizes the components of the purchase price at December 31, 2021 (amounts in millions): Cash consideration paid * $ 29.3 Earn-out liability 0.9 Total purchase price $ 30.2 * Includes $ 0.7 million cash acquired as part of the Business Combination

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Results of Operations by Reportable Segment	The following table presents the Company’s results of operations by reportable segment for the three months ended March 31, 2022 (amounts in millions): Three Months Ended March 31, 2022 Material Construction Corporate Total New and used equipment sales $ 66.9 $ 84.7 $ — $ 151.6 Parts sales 19.2 34.2 — 53.4 Service revenue 26.7 21.5 — 48.2 Rental revenue 12.8 24.9 — 37.7 Rental equipment sales — 40.8 — 40.8 Total revenue $ 125.6 $ 206.1 $ — $ 331.7 Interest expense 2.3 3.5 0.3 6.1 Depreciation and amortization 5.3 18.9 — 24.2 Net income (loss) $ 4.0 $ ( 2.1 ) $ ( 3.9 ) $ ( 2.0 ) The following table presents the Company’s results of operations by reportable segment for the three months ended March 31, 2021 (amounts in millions): Three Months Ended March 31, 2021 Material Construction Corporate Total New and used equipment sales $ 57.4 $ 66.4 $ — $ 123.8 Parts sales 15.2 26.2 — 41.4 Service revenue 22.6 16.1 — 38.7 Rental revenue 11.1 22.0 — 33.1 Rental equipment sales 0.5 31.3 — 31.8 Total revenue $ 106.8 $ 162.0 $ — $ 268.8 Interest expense 2.2 3.1 0.5 5.8 Depreciation and amortization 4.6 16.8 — 21.4 Net income (loss) $ 1.3 $ ( 3.3 ) $ ( 3.7 ) $ ( 5.7 )
Summary of Identified Assets by Reportable Segment	The following table presents the Company’s identified assets by reportable segment for the period ending March 31, 2022 and December 31, 2021 (amounts in millions): March 31, December 31, Segment assets: Material handling $ 339.9 $ 325.1 Construction equipment 689.3 655.8 Corporate 1.4 1.7 Total assets $ 1,030.6 $ 982.6

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Summary of Basic and Diluted Earnings Per Share	Basic and diluted earnings per share for the three months ended March 31, 2022 and March 31, 2021 were calculated as follows (amounts in millions, except per share amounts): Three Months Ended 2022 2021 Basic net loss per share Net loss $ ( 2.0 ) $ ( 5.7 ) Basic weighted average common shares outstanding 32,363,376 30,018,502 Basic net loss per share of common stock $ ( 0.06 ) $ ( 0.19 ) Diluted loss per share Net loss $ ( 2.0 ) $ ( 5.7 ) Basic weighted average common shares outstanding 32,363,376 30,018,502 Effect of dilutive securities: Effect of dilutive non-vested restricted stock units — — Diluted weighted average common shares outstanding 32,363,376 30,018,502 Diluted net loss per share of common stock $ ( 0.06 ) $ ( 0.19 )

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Summary Of Significant Accounting Policies [Line Items]
Federal tax expense (benefit)	$ 0
Automated Equipment Installation and System Integration Services
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue	18,800,000	$ 16,500,000
Service Maintenance Contracts
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue	18,800,000	16,500,000
Equipment Rental Agreements
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue	$ 18,800,000	16,500,000
PSU
Summary Of Significant Accounting Policies [Line Items]
Share based compensation arrangement by share based payment award award vesting period	2 years
Minimum
Summary Of Significant Accounting Policies [Line Items]
Revenue from guaranteed maintenance contracts	3 years
Minimum | PSU
Summary Of Significant Accounting Policies [Line Items]
Percentage of target award amount on number of shares granted	0.00%
Maximum
Summary Of Significant Accounting Policies [Line Items]
Revenue from guaranteed maintenance contracts	5 years
Contract term	1 year
Maximum | PSU
Summary Of Significant Accounting Policies [Line Items]
Percentage of target award amount on number of shares granted	200.00%
Equipment
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue	$ 2,600,000	2,900,000
Recognized liability for guarantee to repurchase	$ 6,900,000	$ 7,200,000

Revenue Recognition - Summary o

Revenue Recognition - Summary of Disaggregated Revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Net revenue	$ 331.7	$ 268.8
Topic 842
Revenues:
Net revenue	37.7	33.1
Topic 606
Revenues:
Net revenue	294	235.7
New and Used Equipment Sales
Revenues:
Net revenue	151.6	123.8
New and Used Equipment Sales | Topic 606
Revenues:
Net revenue	151.6	123.8
Parts Sales
Revenues:
Net revenue	53.4	41.4
Parts Sales | Topic 606
Revenues:
Net revenue	53.4	41.4
Service Revenue
Revenues:
Net revenue	48.2	38.7
Service Revenue | Topic 606
Revenues:
Net revenue	48.2	38.7
Rental Revenue
Revenues:
Net revenue	37.7	33.1
Rental Revenue | Topic 842
Revenues:
Net revenue	37.7	33.1
Rental Equipment Sales
Revenues:
Net revenue	40.8	31.8
Rental Equipment Sales | Topic 606
Revenues:
Net revenue	$ 40.8	$ 31.8

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation Of Revenue [Line Items]
Net revenue	$ 331.7	$ 268.8
Revenue recognized from guaranteed maintenance contracts	5.3	4.3
Contract with customer, assets	5	6
Deferred revenue recognized	2.3	3.4
Service Sales Agreements, Rental Agreements and Automated Equipment Installation and System Integration Services
Disaggregation Of Revenue [Line Items]
Deferred revenue	21.4	19.4
Design and Build Projects, Automated Equipment Installation and System Integration Services
Disaggregation Of Revenue [Line Items]
Net revenue	$ 16.7	$ 7.9

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Operating right-of-use assets	$ 101,900,000	$ 102,600,000
Operating lease liabilities	104,700,000
OneH2, Inc.
Related Party Transaction [Line Items]
Purchases from related party		0
Vendor deposit	200,000
OneH2, Inc. | Hydrogen Fuel
Related Party Transaction [Line Items]
Purchases from related party	25,000
Related Party Lease Agreements
Related Party Transaction [Line Items]
Operating right-of-use assets	23,200,000	24,000,000
Operating lease liabilities	$ 25,500,000	$ 26,300,000

Inventories - Summary of Compon

Inventories - Summary of Components of Inventories, Net (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
New equipment	$ 186.7	$ 146
Used equipment	41.3	34.3
Work in process	8.6	6.7
Parts	58.9	55.7
Gross inventory	295.5	242.7
Inventory reserves	(4.5)	(3.5)
Inventories, net	$ 291	$ 239.2

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Inventory Disclosure [Abstract]
Capitalized direct labor expense included in work in process	$ 2.1		$ 1.6
Rental depreciation expense	$ 1.4	$ 2.2

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Property Plant and Equipment [Line Items]
Total cost	$ 517.1	$ 517.6
Total accumulated depreciation and amortization	(180.1)	(173.1)
Property and equipment, net	337	344.5
Land
Property Plant and Equipment [Line Items]
Total cost	2.1	2.1
Rental Fleet
Property Plant and Equipment [Line Items]
Total cost	457.9	461.4
Total accumulated depreciation and amortization	(154.9)	(149.8)
Machinery and Equipment
Property Plant and Equipment [Line Items]
Total cost	7.6	7.2
Autos and Trucks
Property Plant and Equipment [Line Items]
Total cost	6.8	6.6
Leasehold Improvements
Property Plant and Equipment [Line Items]
Total cost	11.4	10.6
Finance Lease Right of Use Assets
Property Plant and Equipment [Line Items]
Total cost	16.4	15.1
Office Equipment
Property Plant and Equipment [Line Items]
Total cost	3.6	3.5
Computer Equipment
Property Plant and Equipment [Line Items]
Total cost	11.3	11.1
Equipment Autos and Trucks Leasehold Improvements Finance Leases and Office and Computer Equipment
Property Plant and Equipment [Line Items]
Total accumulated depreciation and amortization	$ (25.2)	$ (23.3)

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Property Plant and Equipment [Line Items]
Depreciation and amortization on property and equipment	$ 24.2	$ 21.4
GPO Assets	10.7		$ 9.7
Property and Equipment
Property Plant and Equipment [Line Items]
Depreciation and amortization on property and equipment	21.4	$ 18.5
Machinery and Equipment
Property Plant and Equipment [Line Items]
Finance lease assets, gross carrying values	16.4		15.1
Finance leases assets, accumulated amortization balances	4.3		3.8
Rental Fleet
Property Plant and Equipment [Line Items]
Finance leases assets, accumulated amortization balances	$ 457.9		$ 461.4

Goodwill - Schedule of Changes

Goodwill - Schedule of Changes in Carrying Amount of Goodwill in Total and by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Goodwill [Line Items]
Beginning balance	$ 41.9	$ 24.3
Additions		19
Adjustments to purchase price allocations	1.6	(1.4)
Ending balance	43.5	41.9
Material Handling
Goodwill [Line Items]
Beginning balance	11.6	10.2
Additions		1.4
Ending balance	11.6	11.6
Construction Equipment
Goodwill [Line Items]
Beginning balance	30.3	14.1
Additions		17.6
Adjustments to purchase price allocations	1.6	(1.4)
Ending balance	$ 31.9	$ 30.3

Intangible Assets - Schedule of

Intangible Assets - Schedule of Gross Carrying Amount of Intangible Assets and Accumulated Amortization (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	8 years 3 months 18 days	8 years 6 months
Gross carrying amount	$ 50.5	$ 50.5
Accumulated amortization	(8.5)	(7.1)
Net carrying amount	$ 42	$ 43.4
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	8 years 9 months 18 days	9 years
Gross carrying amount	$ 44.8	$ 44.8
Accumulated amortization	(6.9)	(5.9)
Net carrying amount	$ 37.9	$ 38.9
Tradenames
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	4 years 2 months 12 days	4 years 3 months 18 days
Gross carrying amount	$ 4.5	$ 4.5
Accumulated amortization	(1.2)	(0.9)
Net carrying amount	$ 3.3	$ 3.6
Non-compete Agreements
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	3 years 1 month 6 days	3 years 3 months 18 days
Gross carrying amount	$ 0.7	$ 0.7
Accumulated amortization	(0.3)	(0.2)
Net carrying amount	$ 0.4	$ 0.5
Internal Use Software
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	2 years 10 months 24 days	3 years 2 months 12 days
Gross carrying amount	$ 0.5	$ 0.5
Accumulated amortization	(0.1)	(0.1)
Net carrying amount	$ 0.4	$ 0.4

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 1.4	$ 0.7

Lines of Credit and Floor Pla_2

Lines of Credit and Floor Plans - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Apr. 01, 2021
Line Of Credit Facility [Line Items]
Recognized interest expense	$ 6,100,000	$ 5,800,000
First Lien Lender | JP Morgan Chase Bank | ABL Facility
Line Of Credit Facility [Line Items]
Floor plan financing facility	$ 116,100,000		$ 100,700,000
Maximum borrowing capacity				$ 350,000,000
Effective interest rate	2.40%		2.30%
First Lien Lender | JP Morgan Chase Bank | First Lien Floor Plan Facility
Line Of Credit Facility [Line Items]
Floor plan financing facility	$ 41,200,000		$ 30,600,000
Maximum borrowing capacity	$ 50,000,000
Effective interest rate	2.90%		2.80%
First Lien Lender | JP Morgan Chase Bank | Floor Plans and ABL Facility
Line Of Credit Facility [Line Items]
Floor plan financing facility	$ 303,200,000		$ 255,600,000
Maximum borrowing capacity	750,000,000
Debt issuance costs	2,300,000		2,400,000
Original Equipment Manufacturer ("OEM") Captive Lenders and Suppliers | JP Morgan Chase Bank | Floor Plan Facilities | Minimum
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	100,000
Original Equipment Manufacturer ("OEM") Captive Lenders and Suppliers | JP Morgan Chase Bank | Floor Plan Facilities | Maximum
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	102,000,000
Original Equipment Manufacturer ("OEM") Captive Lenders and Suppliers | JP Morgan Chase Bank | OEM Floor Plan Facilities
Line Of Credit Facility [Line Items]
Floor plan financing facility	$ 145,900,000		124,300,000
Original Equipment Manufacturer ("OEM") Captive Lenders and Suppliers | JP Morgan Chase Bank | OEM Floor Plan Facilities | Minimum
Line Of Credit Facility [Line Items]
Effective interest rate	3.10%
Original Equipment Manufacturer ("OEM") Captive Lenders and Suppliers | JP Morgan Chase Bank | OEM Floor Plan Facilities | Maximum
Line Of Credit Facility [Line Items]
Effective interest rate	5.20%
Interest only or deferred payment period	12 months
Alta Enterprises, LLC, NITCO, LLC and Other Credit Parties [Member] | JP Morgan Chase Bank | Floor Plan Facilities
Line Of Credit Facility [Line Items]
Floor plan financing facility	$ 187,100,000		$ 154,900,000
Maximum borrowing capacity	0
Recognized interest expense	$ 300,000	$ 500,000

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Details) - USD ($) $ in Millions	Apr. 01, 2021	Jun. 12, 2020	Feb. 14, 2020	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Debt instrument, description				On April 1, 2021, the Company completed a private offering of Senior Secured Second Lien Notes (the “Notes”), for the purposes of, among other things, repayment and refinancing of a portion of the Company’s prior existing debt, reducing interest rate exposure and providing liquidity for financing of future growth initiatives.
Repayment of outstanding loan				$ 70.9		$ 61.7
Loss on extinguishment of debt					$ 11.9
Imputed interest				0.1		$ 0.1
PeakLogix
Debt Instrument [Line Items]
Earn-out payment period		5 years
Present value of non-contingent earn-out liability		$ 1.7
Commercial Paper
Debt Instrument [Line Items]
Payments of unsecured promissory note					$ 1.1
Commercial Paper | PeakLogix
Debt Instrument [Line Items]
Debt instrument, interest rate		6.00%
Unsecured promissory note		$ 1
Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount			$ 155
Debt instrument, maturity period			2025-08
Payable in monthly installments				$ 1.9
Repayment of outstanding loan	$ 147.3
Term Loan | SOFR Plus
Debt Instrument [Line Items]
Debt Instrument, variable rate				8.00%
Notes Payable | PeakLogix | Non-Contingent Consideration
Debt Instrument [Line Items]
Earn-out payment period		5 years
Amount of minimum cash payments using a market participant discount rate				$ 1.7
Imputed interest				0.2
Notes Payable | PeakLogix | Non-Contingent Consideration | Minimum
Debt Instrument [Line Items]
Additional earn-out payment		$ 2
Notes Payable | PeakLogix | Non-Contingent Consideration | Other Liabilities
Debt Instrument [Line Items]
Present value of non-contingent earn-out liability				1.9			$ 1.8
5.625% Senior Secured Second Lien Notes due 2026
Debt Instrument [Line Items]
Proceeds from sale of notes	$ 315
Debt instrument, interest rate	5.625%
Notes maturity date	Apr. 15, 2026
Outstanding borrowing				310.2
Original issue discount and deferred financing costs				$ 4.8
Effective interest rate				5.93%

Long-term Debt - Schedule of Lo

Long-term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
High yield notes	$ 315	$ 315
Unamortized debt issuance costs	(1)	(1)
Debt discount	(3.8)	(4)
Finance leases	12.4	11.6
Total debt and finance leases	322.6	321.6
Less: current maturities	(2.7)	(2.6)
Long-term debt and finance leases, net	$ 319.9	$ 319

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Lessee Lease Description [Line Items]
Assets recorded under finance leases, net of accumulated depreciation	$ 12.1	$ 11.3
Undiscounted future lease payments pertaining to leases that were executed but not yet commenced	$ 4.3
Lease term	10 years
Minimum
Lessee Lease Description [Line Items]
Remaining lease terms	1 year
Additional lease renewal terms	5 years
Maximum
Lessee Lease Description [Line Items]
Additional lease renewal terms	20 years

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Includes Related Party Leases) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Lease, Cost [Abstract]
Operating lease expense	$ 6	$ 5.8
Short-term lease expense	1	1.7
Low-value lease expense		0.2
Variable lease expense	1.2
Finance lease expense:
Amortization of right-of-use assets	0.8	0.2
Interest on lease liabilities	0.2	0.1
Total lease expense	$ 9.2	$ 8

Leases - Schedule of Other Info

Leases - Schedule of Other Information Related to Leases (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$ 5.8	$ 5.6
Operating cash flows for finance leases	0.2	0.1
Payments on finance lease obligations	0.7	0.2
Non-cash right-of-use assets obtained in exchange for lease obligations
Operating leases	3.8	5.1
Finance leases	$ 1.5	$ 4.5
Weighted Average Remaining Lease Term (in years)
Operating leases	7 years 3 months 18 days	7 years 1 month 6 days
Finance leases	4 years 8 months 12 days	4 years 7 months 6 days
Weighted Average Discount Rate (in %)
Operating leases	6.60%	6.20%
Finance leases	5.60%	5.50%

Leases - Schedule of Minimum Fu

Leases - Schedule of Minimum Future Lease Payments under Non-cancellable Operating and Finance Leases (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Remainder of 2022	$ 16.9
2023	21.2
2024	19.9
2025	16.9
2026	14.3
Thereafter	45.2
Total future minimum lease payments	134.4
Less: imputed interest	(29.7)
Operating lease expense	104.7
Remainder of 2022	2.5
2023	3
2024	2.9
2025	2.7
2026	2
Thereafter	0.9
Total future minimum lease payments	14
Less: imputed interest	(1.6)
Finance leases	12.4	$ 11.6
Current portion of long-term debt	2.7	2.6
Current operating lease liabilities	$ 16.4	$ 16.2
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current operating lease liabilities	Current operating lease liabilities
Finance lease obligations, net of current portion	$ 9.7	$ 9
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Finance lease obligations, net of current portion	Finance lease obligations, net of current portion
Long-term operating lease liabilities	$ 88.3	$ 88.4
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term operating lease liabilities	Long-term operating lease liabilities
Operating and finance lease liability	$ 117.1	$ 116.2

Contingencies - Additional Info

Contingencies - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Commitments And Contingencies [Line Items]
Estimated exposure of guarantees	$ 1,600,000	$ 1,700,000
Guarantees accrued	0	0
Letter of Credit
Commitments And Contingencies [Line Items]
Floor plan financing facility	$ 3,400,000	$ 3,400,000
Minimum
Commitments And Contingencies [Line Items]
Term of guarantees	2 years
Maximum
Commitments And Contingencies [Line Items]
Term of guarantees	5 years

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Provision (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Federal Income Tax Expense Benefit Continuing Operations [Abstract]
Federal taxes-current	$ 0
Federal taxes-deferred		$ 400,000
State taxes-deferred		100,000
Income tax provision (benefit)	$ 0	$ 500,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 0	$ 0.5
Effective income tax rate	0.00%	(8.80%)
Federal net operating tax loss carryforwards			$ 42.7
Percentage of future taxable income			80.00%
Deferred employer payroll taxes under CARES act	$ 5		$ 5

Equity - Additional Information

Equity - Additional Information (Details)	Dec. 22, 2020USD ($)$ / sharesshares	Mar. 31, 2022$ / sharesshares	Dec. 31, 2021$ / sharesshares	Jan. 31, 2022$ / shares	Nov. 01, 2021$ / shares	Aug. 02, 2021$ / shares	Apr. 30, 2021$ / shares	Apr. 12, 2021shares
Equity And Warrants [Line Items]
Preferred stock, par value		$ 0.0001	$ 0.0001
Liquidation preference of depository shares, value | $	$ 2,500
Liquidation preference of depository, per share	$ 2.50
Dividend description		Dividends are payable quarterly in arrears, on or about the last day of January, April, July and October, which began on or about April 30, 2021; provided that if any dividend payment date is not a business day, then the dividend which would otherwise have been payable on that dividend payment date may be paid on the next succeeding business day, and no interest, additional dividends or other sums will accumulate. Dividends will accumulate and be cumulative from, and including December 22, 2020, the date of original issuance.
Dividend to be paid per share				$ 0.625	$ 0.625	$ 0.625	$ 0.89
Warrant Agreement
Equity And Warrants [Line Items]
Granted warrants to purchase common stock | shares								8,668,746
Common stock exchange ratio								0.263
Common stock issued in exchange for warrants | shares								2,279,874
10% Series A Preferred Stock
Equity And Warrants [Line Items]
Depositary receipt ratio	0.001	0.001	0.001
Preferred stock, par value	$ 0.0001	$ 0.0001	$ 0.0001
Preferred stock, dividend rate	10.00%	10.00%	10.00%
Liquidation preference, value | $	$ 25,000
Liquidation preference per share in terms of depository share	$ 25
Preferred stock, shares issued | shares	1,200
Depository Shares
Equity And Warrants [Line Items]
Preferred stock, shares issued | shares	1,200,000	1,200,000	1,200,000

Share Based Compensation - Addi

Share Based Compensation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense	$ 0.3	$ 0.3
RSUs | Directors, Officers and Employees | 2020 Omnibus Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares approved for grant			91,270
Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense	$ 6.3
Unrecognized compensation expense, weighted average recognition period	2 years 2 months 12 days
Performance Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense	$ 6.3
Unrecognized compensation expense, weighted average recognition period	2 years 2 months 12 days
Share based compensation arrangement by share based payment award award vesting period	2 years
Performance Stock Units | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target award amount on number of shares granted	0.00%
Performance Stock Units | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target award amount on number of shares granted	200.00%
Performance Stock Units | Directors, Officers and Employees | 2020 Omnibus Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares approved for grant	292,901

Share Based Compensation - Summ

Share Based Compensation - Summary of Restricted Stock and Performance Stock Units were Granted and Vested (Details)	3 Months Ended
	Mar. 31, 2022$ / sharesshares
RSUs
Number of units
Number of units unvested, Beginning balance | shares	309,292
Number of units, Granted | shares	91,270
Number of units, Vested-unissued | shares	118,649
Number of units unvested, Ending balance | shares	281,913
Weighted average grant date fair value
Weighted average grant date fair value unvested, Beginning balance | $ / shares	$ 9.71
Weighted average grant date fair value, Granted | $ / shares	12.14
Weighted average grant date fair value, Vested-unissued | $ / shares	10.16
Weighted average grant date fair value unvested, Ending balance | $ / shares	$ 10.31
Performance Stock Units
Number of units
Number of units unvested, Beginning balance | shares	0
Number of units, Granted | shares	292,901
Number of units unvested, Ending balance | shares	292,901
Weighted average grant date fair value
Weighted average grant date fair value unvested, Beginning balance | $ / shares	$ 0
Weighted average grant date fair value, Granted | $ / shares	12.14
Weighted average grant date fair value unvested, Ending balance | $ / shares	$ 12.14

Fair Value Instruments - Additi

Fair Value Instruments - Additional Information (Details) - USD ($)	Dec. 31, 2021	Jun. 12, 2020	Dec. 31, 2021	Mar. 31, 2022	Jul. 01, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earn-out payment, maximum limit				$ 1,500,000
PeakLogix
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earn-out payment		$ 1,700,000
Present value of non-contingent earn-out liability		$ 1,700,000
Earn-out payment period		5 years
Fair value of incremental earn-out payment		$ 1,700,000	$ 400,000
Contingent liability				1,500,000
PeakLogix | Non-Contingent Consideration
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Non-contingent liability		2,000,000
Hilo Equipment & Services
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earn-out payment					$ 1,000,000
Fair value of incremental earn-out payment			400,000
Contingent liability				500,000
Ginop
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earn-out payment	$ 1,500,000		$ 1,500,000
Earn-out liability	$ 900,000
Contingent liability				900,000
Other Current Liabilities and Other Liabilities | PeakLogix
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earn-out payment		1,000,000
Other Current Liabilities and Other Liabilities | Hilo Equipment & Services
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earn-out payment					$ 800,000
Other Liabilities | Ginop
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earn-out payment				$ 900,000
Minimum | PeakLogix
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earn-out payment		2,000,000
Maximum | PeakLogix
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earn-out payment		$ 3,700,000

Fair Value Instruments - Summar

Fair Value Instruments - Summary of Recurring Measures at Fair Value by Level of Hierarchy (Details) - Level 3 - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities: contingent consideration	$ 2.9	$ 2.8	$ 1.8
Recurring Measures at Fair Value
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities: contingent consideration	$ 2.9	$ 2.8

Fair Value Instruments - Summ_2

Fair Value Instruments - Summary of Changes to Level 3 Instruments (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Ginop
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Beginning balance	$ 1.5
Ending balance		$ 1.5
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Beginning balance	2.8	1.8
Change in fair value	0.1	0.1
Ending balance	$ 2.9	2.8
Level 3 | Ginop
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Acquisition		$ 0.9

Business Combinations - Summary

Business Combinations - Summary of Net Assets Acquired from Acquisition (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 01, 2021	Oct. 01, 2021	Sep. 01, 2021	Mar. 01, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 41.9					$ 43.5		$ 24.3
Assets acquired net of cash						$ 1.2	$ 1.9
ScottTech
Business Acquisition [Line Items]
Cash					$ 0.5
Accounts receivable					0.9
Inventory					0.3
Prepaid and other assets					0.1
Property and equipment, net					0.4
Intangible assets					0.9
Goodwill					0.6
Total Assets					3.7
Accounts payable					(0.3)
Accrued expenses					(0.1)
Other current liabilities					(0.9)
Total Liabilities					(1.3)
Net Assets Acquired					2.4
Assets acquired net of cash					$ 1.9
Baron
Business Acquisition [Line Items]
Inventory				$ 0.3
Prepaid and other assets				0.3
Property and equipment, net				0.2
Goodwill				0.8
Total Assets				1.6
Other current liabilities				(0.3)
Total Liabilities				(0.3)
Net Assets Acquired				1.3
Assets acquired net of cash				$ 1.3
Gibson
Business Acquisition [Line Items]
Accounts receivable			$ 2.4
Inventory			3.6
Prepaid and other assets			0.5
Rental fleet, net			8.8
Property and equipment, net			1
Goodwill			0.3
Total Assets			16.6
Floor plan payable			(4.4)
Accounts payable			(0.6)
Accrued expenses			(0.3)
Other liabilities			(0.7)
Total Liabilities			(6)
Net Assets Acquired			10.6
Assets acquired net of cash			$ 10.6
Midwest Mine
Business Acquisition [Line Items]
Cash		$ 0.4
Accounts receivable		3.3
Inventory		1.4
Rental fleet, net		0.9
Property and equipment, net		1.3
Intangible assets		1.3
Goodwill		1.1
Total Assets		9.7
Accounts payable		(1.5)
Accrued expenses		(0.2)
Other current liabilities		(1.1)
Total Liabilities		(2.8)
Net Assets Acquired		6.9
Assets acquired net of cash		$ 6.5
Ambrose
Business Acquisition [Line Items]
Cash	0.2
Accounts receivable	1.5
Inventory	9
Rental fleet, net	3.4
Property and equipment, net	0.7
Intangible assets	2.5
Goodwill	3.8
Total Assets	21.1
Floor plan payable	(3.3)
Accounts payable	(1.6)
Accrued expenses	(1.9)
Total Liabilities	(6.8)
Net Assets Acquired	14.3
Assets acquired net of cash	14.1
Ginop
Business Acquisition [Line Items]
Cash	0.7
Accounts receivable	0.4
Inventory	14.7
Intangible assets	15.2
Goodwill	14
Total Assets	45
Floor plan payable	(9.4)
Accounts payable	(1.1)
Accrued expenses	(0.2)
Other current liabilities	(0.4)
Deferred tax liability	(3.7)
Total Liabilities	(14.8)
Net Assets Acquired	30.2
Assets acquired net of cash	$ 29.5
ScottTech, Baron, Gibson, Midwest Mine, Ambrose and Ginop
Business Acquisition [Line Items]
Cash							1.8
Accounts receivable							8.5
Inventory							29.3
Prepaid and other assets							0.9
Rental fleet, net							13.1
Property and equipment, net							3.6
Intangible assets							19.9
Goodwill							20.6
Total Assets							97.7
Floor plan payable							(17.1)
Accounts payable							(5.1)
Accrued expenses							(2.7)
Other current liabilities							(2.7)
Deferred tax liability							(3.7)
Other liabilities							(0.7)
Total Liabilities							(32)
Net Assets Acquired							65.7
Assets acquired net of cash							$ 63.9

Business Combinations - Additio

Business Combinations - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 01, 2021	Oct. 01, 2021	Sep. 01, 2021	Mar. 01, 2021	Mar. 31, 2022	Mar. 31, 2021
Business Acquisition [Line Items]
Enterprise value, net of cash acquired						$ 1.2	$ 1.9
Ginop
Business Acquisition [Line Items]
Total consideration paid	$ 30.2
Earn-out liability	0.9
Earn-out payment	1.5
Cash acquired from acquisition	0.7
Working capital adjustment	0.3
Business combination enterprise value transferred	29.2
Inventory	14.7
Enterprise value, net of cash acquired	29.5
Ambrose
Business Acquisition [Line Items]
Total consideration paid	14.7
Cash acquired from acquisition	0.2
Working capital adjustment	1.2
Cash consideration paid	14.3
Estimated working capital deficit	0.6
Inventory	9
Enterprise value, net of cash acquired	$ 14.1
Midwest Mine
Business Acquisition [Line Items]
Cash consideration paid		$ 6.9
Inventory		1.4
Enterprise value, net of cash acquired		$ 6.5
Gibson
Business Acquisition [Line Items]
Total consideration paid			$ 13.8
Earn-out liability			4.4
Cash consideration paid			10.6
Inventory			3.6
Enterprise value, net of cash acquired			10.6
Gibson | New Equipment
Business Acquisition [Line Items]
Inventory			$ 1.2
Baron
Business Acquisition [Line Items]
Total consideration paid				$ 1.3
Inventory				0.3
Enterprise value, net of cash acquired				$ 1.3
ScottTech
Business Acquisition [Line Items]
Total consideration paid					$ 2.4
Inventory					0.3
Enterprise value, net of cash acquired					$ 1.9

Business Combinations - Summa_2

Business Combinations - Summary of Components of Purchase Price (Details) - Ginop $ in Millions	Dec. 31, 2021USD ($)
Business Acquisition [Line Items]
Cash consideration paid	$ 29.3	[1]
Earn-out liability	0.9
Total purchase price	$ 30.2
[1]	Includes $ 0.7 million cash acquired as part of the Business Combination

Business Combinations - Summa_3

Business Combinations - Summary of Components of Purchase Price (Parenthetical) (Details) $ in Millions	Dec. 31, 2021USD ($)
Ginop
Business Acquisition [Line Items]
Cash acquired from acquisition	$ 0.7

Segments - Schedule of Results

Segments - Schedule of Results of Operations by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Total revenues	$ 331.7	$ 268.8
Interest expense	6.1	5.8
Depreciation and amortization	24.2	21.4
Net income (loss)	(2)	(5.7)
Operating Segments | Material Handling Segment
Segment Reporting Information [Line Items]
Total revenues	125.6	106.8
Interest expense	2.3	2.2
Depreciation and amortization	5.3	4.6
Net income (loss)	4	1.3
Operating Segments | Construction Equipment Segment
Segment Reporting Information [Line Items]
Total revenues	206.1	162
Interest expense	3.5	3.1
Depreciation and amortization	18.9	16.8
Net income (loss)	(2.1)	(3.3)
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Interest expense	0.3	0.5
Net income (loss)	(3.9)	(3.7)
New and Used Equipment Sales
Segment Reporting Information [Line Items]
Total revenues	151.6	123.8
New and Used Equipment Sales | Operating Segments | Material Handling Segment
Segment Reporting Information [Line Items]
Total revenues	66.9	57.4
New and Used Equipment Sales | Operating Segments | Construction Equipment Segment
Segment Reporting Information [Line Items]
Total revenues	84.7	66.4
Parts Sales
Segment Reporting Information [Line Items]
Total revenues	53.4	41.4
Parts Sales | Operating Segments | Material Handling Segment
Segment Reporting Information [Line Items]
Total revenues	19.2	15.2
Parts Sales | Operating Segments | Construction Equipment Segment
Segment Reporting Information [Line Items]
Total revenues	34.2	26.2
Service Revenue
Segment Reporting Information [Line Items]
Total revenues	48.2	38.7
Service Revenue | Operating Segments | Material Handling Segment
Segment Reporting Information [Line Items]
Total revenues	26.7	22.6
Service Revenue | Operating Segments | Construction Equipment Segment
Segment Reporting Information [Line Items]
Total revenues	21.5	16.1
Rental Revenue
Segment Reporting Information [Line Items]
Total revenues	37.7	33.1
Rental Revenue | Operating Segments | Material Handling Segment
Segment Reporting Information [Line Items]
Total revenues	12.8	11.1
Rental Revenue | Operating Segments | Construction Equipment Segment
Segment Reporting Information [Line Items]
Total revenues	24.9	22
Rental Equipment Sales
Segment Reporting Information [Line Items]
Total revenues	40.8	31.8
Rental Equipment Sales | Operating Segments | Material Handling Segment
Segment Reporting Information [Line Items]
Total revenues		0.5
Rental Equipment Sales | Operating Segments | Construction Equipment Segment
Segment Reporting Information [Line Items]
Total revenues	$ 40.8	$ 31.3

Segments - Additional Informati

Segments - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segments - Summary of Identifie

Segments - Summary of Identified Assets by Reportable Segment (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 1,030.6	$ 982.6
Operating Segments | Material Handling Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	339.9	325.1
Operating Segments | Construction Equipment Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	689.3	655.8
Corporate, Non-Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 1.4	$ 1.7

Earnings Per Share - Summary of

Earnings Per Share - Summary of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Basic net loss per share:
Net loss	$ (2)	$ (5.7)
Basic weighted average common shares outstanding	32,363,376	30,018,502
Basic net loss per share of common stock	$ (0.06)	$ (0.19)
Diluted loss per share
Net loss	$ (2)	$ (5.7)
Basic weighted average common shares outstanding	32,363,376	30,018,502
Effect of dilutive securities:
Diluted weighted average common shares outstanding	32,363,376	30,018,502
Diluted net loss per share of common stock	$ (0.06)	$ (0.19)

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	223,000	91,000