Alta Equipment (ALTG) 10-Q 9 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 05, 2022
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
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		31,981,843
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

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash	$ 0.5	$ 2.3
Accounts receivable, net	211.2	182.7
Inventories, net	296.6	239.2
Prepaid expenses and other current assets	30.4	24.4
Total current assets	538.7	448.6
Property and equipment, net	346.7	344.5
Operating lease right-of-use assets, net	98.2	102.6
OTHER ASSETS
Goodwill	44.1	41.9
Other intangible assets, net	40.4	43.4
Other assets	3	1.6
Total other assets	87.5	86.9
TOTAL ASSETS	1,071.1	982.6
CURRENT LIABILITIES
Lines of credit, net	123.6	98.4
Current portion of long-term debt	3.1	2.6
Accounts payable	77.4	73.5
Customer deposits	21.3	16.7
Accrued expenses	41.3	39.3
Current operating lease liabilities	16.3	16.2
Other current liabilities	25	19.1
Total current liabilities	506.6	420.6
LONG-TERM LIABILITIES
Long-term debt, net of current portion	310.4	310
Finance lease obligations, net of current portion	11.9	9
Deferred revenue, net of current portion	3.6	4.2
Guaranteed purchase obligations, net of current portion	4.2	5.2
Long-term operating lease liabilities, net of current portion	84.9	88.4
Deferred tax liability	6.9	6.9
Other liabilities	3.4	3.6
TOTAL LIABILITIES	931.9	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 June 30, 2022 and December 31, 2021, respectively
Common stock, $0.0001 par value, 200,000,000 shares authorized; 31,981,843 and 32,363,376 issued and outstanding at June 30, 2022 and December 31, 2021, respectively
Additional paid-in capital	218.5	217.4
Treasury stock at cost, 862,182 and 390,000 shares of common stock held at June 30, 2022 and December 31, 2021, respectively	(5.9)	(5.9)
Accumulated deficit	(73.4)	(76.8)
TOTAL STOCKHOLDERS’ EQUITY	139.2	134.7
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	1,071.1	982.6
New Equipment
CURRENT LIABILITIES
Floor plan payable	151.7	114.2
Used and Rental Equipment
CURRENT LIABILITIES
Floor plan payable	$ 46.9	$ 40.6

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Accounts receivable, net of allowances | $	$ 11.8	$ 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	31,981,843	32,363,376
Common stock, shares outstanding	31,981,843	32,363,376
Treasury stock, common shares	862,182	390,000
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%	10%

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Total revenues	$ 406.5	$ 292.7	$ 738.2	$ 561.5
Cost of revenues:
Cost of revenues	300.7	215.8	541	417.3
Gross profit	105.8	76.9	197.2	144.2
General and administrative expenses	88.8	71.1	171.7	135.9
Depreciation and amortization expense	4	2.6	7.9	4.6
Total general and administrative expenses	92.8	73.7	179.6	140.5
Income from operations	13	3.2	17.6	3.7
Other (expense) income
Interest expense, floor plan payable – new equipment	(0.5)	(0.5)	(0.8)	(1)
Interest expense – other	(6.3)	(5.5)	(12.1)	(10.8)
Other income	0.4	0.1	0.7
Loss on extinguishment of debt		(11.9)		(11.9)
Total other expense	(6.4)	(17.9)	(12.2)	(23.6)
Income (loss) before taxes	6.6	(14.7)	5.4	(19.9)
Income tax provision	0.5	0	0.5	0.5
Net income (loss)	6.1	(14.7)	4.9	(20.4)
Preferred stock dividends	(0.7)	(1.1)	(1.5)	(1.1)
Net income (loss) available to common shareholders	$ 5.4	$ (15.8)	$ 3.4	$ (21.5)
Basic income (loss) per share	$ 0.17	$ (0.49)	$ 0.11	$ (0.69)
Diluted income (loss) per share	$ 0.17	$ (0.49)	$ 0.11	$ (0.69)
Basic weighted average common shares outstanding	31,933,032	32,403,151	32,147,015	31,204,239
Diluted weighted average common shares outstanding	32,151,512	32,553,526	32,367,810	31,344,518
New and Used Equipment Sales
Revenues:
Total revenues	$ 217.3	$ 132	$ 368.9	$ 255.8
Cost of revenues:
Cost of revenues	182.2	112.5	306.1	219
Parts Sales
Revenues:
Total revenues	58.3	44.1	111.7	85.5
Cost of revenues:
Cost of revenues	40	30.6	76.7	59.3
Service Revenue
Revenues:
Total revenues	51.7	42.4	99.9	81.1
Cost of revenues:
Cost of revenues	21.9	16.4	42	30.9
Rental Revenue
Revenues:
Total revenues	43.6	38.2	81.3	71.3
Cost of revenues:
Cost of revenues	5.4	5.2	10.8	10.7
Rental Equipment Sales
Revenues:
Total revenues	35.6	36	76.4	67.8
Cost of revenues:
Cost of revenues	27.9	29.8	61.8	56.7
Rental Depreciation
Cost of revenues:
Cost of revenues	$ 23.3	$ 21.3	$ 43.6	$ 40.7

CONDENSED CONSOLIDATED STATEM_2

CONDENSED 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 income (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, 2020		156.9			216.2	(53.4)	(5.9)
Balance, shares at Dec. 31, 2020			1,200,000	30,018,502
Net income (loss)		(20.4)
Balance at Jun. 30, 2021		135.9			216.7	(74.9)	(5.9)
Balance, shares at Jun. 30, 2021			1,200,000	32,363,376
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
Net income (loss)		(14.7)				(14.7)
Dividends on preferred stock		(1.1)				(1.1)
Share based compensation		0.2			0.2
Warrants exchanged into common stock, shares				2,279,874
Issuance of restricted stock units to employees, shares				65,000
Balance at Jun. 30, 2021		135.9			216.7	(74.9)	(5.9)
Balance, shares at Jun. 30, 2021			1,200,000	32,363,376
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 income (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
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 income (loss)		4.9
Balance at Jun. 30, 2022		139.2			218.5	(73.4)	(5.9)
Balance, shares at Jun. 30, 2022			1,200,000	31,981,843
Balance at Mar. 31, 2022		133			217.7	(78.8)	(5.9)
Balance, shares at Mar. 31, 2022			1,200,000	32,363,376
Net income (loss)		6.1				6.1
Dividends on preferred stock		(0.7)				(0.7)
Share based compensation		0.8			0.8
Share based compensation, shares				90,649
Repurchase of common stock, shares	[1]			(472,182)
Balance at Jun. 30, 2022		$ 139.2			$ 218.5	$ (73.4)	$ (5.9)
Balance, shares at Jun. 30, 2022			1,200,000	31,981,843
[1] Correction of previously disclosed shares repurchased in 2020, not previously reported as a reduction of common stock shares outstanding. Amount is immaterial to the condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Dividends on preferred stock per share	$ 0.625	$ 0.625	$ 0.890

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
OPERATING ACTIVITIES
Net income (loss)	$ 4.9	$ (20.4)
Adjustments to reconcile net income (loss) to net cash flows provided by operating activities:
Depreciation and amortization	51.5	45.3
Amortization of debt discount and debt issuance costs	0.7	0.8
Imputed interest	0.1	0.2
Gain on sale of property and equipment	(0.1)
Gain on sale of rental equipment	(14.6)	(11.1)
Provision for inventory obsolescence	1.9	0.4
Provision for bad debt	2.4	2.3
Loss on debt extinguishment		11.9
Share based compensation expense	1.1	0.5
Changes in deferred income taxes		0.5
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	(30.7)	(18.6)
Inventories	(131.7)	(85.6)
Proceeds from sale of rental equipment	76.4	67.8
Prepaid expenses and other assets	(7.3)	(8.2)
Manufacturers floor plans payable	31.7	6
Accounts payable, accrued expenses, customer deposits, and other current liabilities	16.7	19.2
Leases, deferred revenue and other liabilities	0.4	(0.8)
Net cash provided by operating activities	3.4	10.2
INVESTING ACTIVITIES
Expenditures for rental equipment	(30.3)	(22.8)
Expenditures for property and equipment	(4.2)	(3.3)
Proceeds from sale of property and equipment	0.3	1.1
Expenditures for guaranteed purchase obligations	(1.7)	(1.2)
Expenditures for acquisitions, net of cash acquired	(1.5)	(2.6)
Net cash used in investing activities	(37.4)	(28.8)
FINANCING ACTIVITIES
Expenditures for debt issuance costs		(1.6)
Extinguishment of long-term debt		(153.1)
Proceeds from lines of credit and long-term borrowings	166.7	488.3
Principal payments on lines of credit, long-term debt and finance lease obligations	(143.4)	(306.9)
Proceeds from floor plan payable with unaffiliated source	64.6	52.3
Payments on floor plan payable with unaffiliated source	(52.5)	(57.7)
Preferred dividends paid	(1.5)	(1.1)
Payment of promissory note		(1)
Other financing activities	(1.7)
Net cash provided by financing activities	32.2	19.2
NET CHANGE IN CASH	(1.8)	0.6
Cash, Beginning of year	2.3	1.2
Cash, End of period	0.5	1.8
Noncash asset purchases:
Net transfer of assets from inventory to rental fleet within property and equipment	69.9	86.3
Supplemental disclosures of cash flow information
Cash paid for interest	$ 11.9	$ 8.3

Organization and Nature of Oper

Organization and Nature of Operations	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF OPERATIONS	NOTE 1 — ORGANIZATION A ND NATURE OF OPERATIONS Nature of Operations Alta Equipment Group Inc. and its subsidiaries (“Alta” or the “Company”) is engaged in the 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, Massachusetts (including Boston), Maine, New Hampshire, Connecticut, and Florida. Unless the context otherwise requires, the use of the terms “the Company”, “we,” “us,” and “our” in these notes to the unaudited condensed consolidated financial statements refers to Alta Equipment Group Inc. and its consolidated subsidiaries. Basis of Presentation The accompanying unaudited interim condensed 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 intercompany transactions and balances have been eliminated in the preparation of the condensed consolidated financial statements. Reclassification and correction Certain amounts in the prior year Condensed Consolidated Statement of Cash Flows have been reclassified to conform with the presentation in the current year. For the six months ended June 30, 2021, the Company corrected the cash flow presentation of expenditures of $ 1.2 million for guaranteed purchase obligations to present this activity as a cash outflow for investing activities, which was previously presented within operating activities. The presentation for the six months ended June 30, 2021 has been revised to align with current period presentation. The Company has concluded the change is not material. The unaudited interim condensed consolidated financial statements reflect all normal recurring adjustments that are, in the opinion of management, necessary to fairly present the information set forth herein. Operating results for the six months ended June 30, 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 unaudited interim condensed consolidated financial statements may not be the same for the entire year. These unaudited interim condensed 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — SUMMARY OF SIGNIF ICANT ACCOUNTING POLICIES We describe our significant accounting policies in Note 2 of the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2021. During the three and six months ended June 30, 2022, there were no significant changes to those accounting policies. Use of Estimates The preparation of condensed 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 condensed 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. 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 model 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 be applicable 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 condensed consolidated financial statements or existing internal controls.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 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) Topic 606, Revenues from Contracts with Customers ("Topic 606") and 2) Topic 842, Leases , ("Topic 842"). Disaggregation of Revenues The following table summarizes the Company’s disaggregated revenues as presented in the Condensed Consolidated Statements of Income (Loss) for the three months ended June 30, 2022 and 2021 by revenue type, and by the applicable accounting standard. Three Months Ended Three Months Ended Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: New and used equipment sales $ — $ 217.3 $ 217.3 $ — $ 132.0 $ 132.0 Parts sales — 58.3 58.3 — 44.1 44.1 Service revenue — 51.7 51.7 — 42.4 42.4 Rental revenue 43.6 — 43.6 38.2 — 38.2 Rental equipment sales — 35.6 35.6 — 36.0 36.0 Total revenues $ 43.6 $ 362.9 $ 406.5 $ 38.2 $ 254.5 $ 292.7 The following table summarizes the Company’s disaggregated revenues as presented in the Condensed Consolidated Statements of Income (Loss) for the six months ended June 30, 2022 and 2021 by revenue type, and by the applicable accounting standard. Six Months Ended Six Months Ended Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: New and used equipment sales $ — $ 368.9 $ 368.9 $ — $ 255.8 $ 255.8 Parts sales — 111.7 111.7 — 85.5 85.5 Service revenue — 99.9 99.9 — 81.1 81.1 Rental revenue 81.3 — 81.3 71.3 — 71.3 Rental equipment sales — 76.4 76.4 — 67.8 67.8 Total revenues $ 81.3 $ 656.9 $ 738.2 $ 71.3 $ 490.2 $ 561.5 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 (Topic 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 Topic 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 June 30, 2022 and December 31, 2021, the total deferred revenue relating to these various equipment sale transactions amounted to $ 2.3 million and $ 2.9 million, respectively. The Company also recognized a liability for its guarantee to repurchase equipment at residual amounts of $ 6.6 million and $ 7.2 million as of June 30, 2022 and December 31, 2021, respectively. 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. Unbilled rental revenues are included as a component of “Accounts receivable” on the Condensed 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 Condensed Consolidated Statements of Income (Loss), respectively. Revenues from contracts with customers (Topic 606) Accounting for the different types of revenues pursuant to Topic 606 are discussed below. Substantially all of the Company’s revenues under Topic 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 and project-based revenues, 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 the satisfaction of the performance obligations, 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. Project-based revenues, as referred to herein, are contracts with customers where the Company provides design and build solutions, automated equipment installation and system integration and software services. This revenue is recognized as the 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. The Company recognized approximately $ 39.1 million and $ 21.4 million in project-based revenues for the six months ended June 30, 2022 and 2021, respectively, and approximately $ 22.4 million and $ 13.5 million in revenues for the three months ended June 30, 2022 and 2021, respectively. 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 Topic 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 $ 10.6 million and $ 8.9 million for the six months ended June 30, 2022 and 2021, respectively, and $ 5.3 million and $ 4.6 million for the three months ended June 30, 2022 and 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 fulfilled contractual obligations prior to receivables being recognizable for project-based revenue. Contract assets as of June 30, 2022 and December 31, 2021 were $ 5.5 million and $ 6.0 million, respectively. Revenue from recurring support services is recognized ratably over the contract period. The Company also recognizes deferred revenue related to rental agreements. The deferred revenue (contract liabilities) includes the unearned portion of project-based revenue. Total deferred revenue relating to project-based revenues, service sales agreements, and rental agreements as of June 30, 2022 and December 31, 2021 was $ 22.3 million and $ 16.5 million, respectively. 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 June 30, 2022 and December 31, 2021 was $ 24.6 million and $ 19.4 million, respectively. For the three and six months ended June 30, 2022, the Company recognized revenue of $ 8.2 million and $ 10.5 million, respectively, from the prior year ending deferred revenue balance. For the three and six months ended June 30, 2021, the Company recognized revenue of $ 2.2 million and $ 5.6 million, respectively, 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 Topic 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 Topic 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 Topic 606 are generally recognized at the time of delivery to, or pick-up by, the customer.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 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 $ 2.4 million for both the six months ended June 30, 2022 and 2021, and $ 1.2 million for both the three months ended June 30, 2022 and 2021, respectively. At June 30, 2022, the Company had net operating right-of-use assets and operating lease liabilities associated with related party leases of $ 22.3 million and $ 24.7 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. The Company did no t make any purchases from OneH2 in 2021. During the first six months of 2022, the Company purchased approximately $ 45,000 of hydrogen fuel from OneH2 and has a vendor deposit of approximately $ 0.2 million as of June 30, 2022 .

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
INVENTORIES	NOTE 5 — INVENTORIES The components of inventories, net, consisted of the following (amounts in millions): June 30, December 31, 2022 2021 New equipment $ 184.7 $ 146.0 Used equipment 46.5 34.3 Work in process 8.2 6.7 Parts 62.6 55.7 Gross inventory $ 302.0 $ 242.7 Inventory reserves ( 5.4 ) ( 3.5 ) Inventories, net $ 296.6 $ 239.2 Direct labor of $ 1.7 million and $ 1.6 million incurred for open service orders were capitalized and included in work in process at June 30, 2022 and December 31, 2021, respectively. The remaining work in process balances as of June 30, 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 $ 1.7 million and $ 1.0 million for the three months ended June 30, 2022 and 2021, respectively, and $ 3.1 million and $ 3.2 million for the six months ended June 30, 2022 and 2021 , respectively.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 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): June 30, December 31, 2022 2021 Land $ 2.1 $ 2.1 Rental fleet 474.1 461.4 Equipment and leasehold improvements: Machinery and equipment 8.4 7.2 Autos and trucks 6.9 6.6 Leasehold improvements 12.2 10.6 Finance lease right-of-use assets 18.7 15.1 Office equipment 3.7 3.5 Computer equipment 11.8 11.1 Total cost $ 537.9 $ 517.6 Less: accumulated depreciation and amortization Rental fleet $ ( 164.7 ) $ ( 149.8 ) Equipment, autos and trucks, leasehold improvements, finance leases and office and computer equipment ( 26.5 ) ( 23.3 ) Total accumulated depreciation and amortization $ ( 191.2 ) $ ( 173.1 ) Property and equipment, net $ 346.7 $ 344.5 Total depreciation and amortization on property and equipment was $ 24.0 million and $ 21.8 million for the three months ended June 30, 2022 and 2021, respectively, and $ 45.4 million and $ 40.3 million for the six months ended June 30, 2022 and 2021, respectively. The Company had assets related to finance leases with gross carrying values totaling $ 18.7 million and $ 15.1 million, and accumulated amortization balances totaling $ 4.1 million and $ 3.8 million, as of June 30, 2022 and December 31, 2021, respectively. Of the $ 474.1 million and $ 461.4 million of gross cost of rental fleet, $ 9.9 million and $ 9.7 million were represented by guaranteed purchase obligation assets as of June 30, 2022 and December 31, 2021, respectively. The Company evaluates long-lived assets, such as property and equipment and intangible assets subject to amortization, for impairment if events or changes in circumstances indicate that the carrying value of any asset group may not be recoverable. After evaluating and weighing all relevant events and circumstances, the Company did not identify indicators requiring the performance of an interim impairment test for the long-lived assets as of and for the period ended June 30, 2022 .

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 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 during the periods ended June 30, 2022 and December 31, 2021 (amounts in millions): Material Construction Total Balance, Year Ended 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 Additions 0.1 — 0.1 Adjustments to purchase price allocations — 2.1 2.1 Balance, June 30, 2022 $ 11.7 $ 32.4 $ 44.1

Other Intangible Assets

Other Intangible Assets	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
OTHER INTANGIBLE ASSETS	NOTE 8 — OTHER INT ANGIBLE ASSETS The gross carrying amount of other intangible assets and accumulated amortization as of June 30, 2022 and December 31, 2021 were as follows (amounts in millions): June 30, 2022 Weighted Average Remaining Life (in years) Gross carrying Accumulated Net carrying Customer relationships 8.5 $ 44.8 $ ( 8.1 ) $ 36.7 Tradenames 4.0 4.5 ( 1.5 ) 3.0 Non-compete agreements 2.8 0.7 ( 0.3 ) 0.4 Internal use software 2.7 0.5 ( 0.2 ) 0.3 Total 8.1 $ 50.5 $ ( 10.1 ) $ 40.4 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 other intangible assets was $ 1.6 million and $ 0.8 million for the three months ended June 30, 2022 and 2021, respectively, and $ 3.0 million and $ 1.5 million for the six months ended June 30, 2022 and 2021, respectively. During the fourth quarter of 2021, the Company reassessed the useful lives of our other 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	6 Months Ended
	Jun. 30, 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 June 30, 2022, the Company had an outstanding ABL Facility balance of $ 125.6 million, excluding unamortized debt issuance costs. The effective interest rate was 3.6 % at June 30, 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 and among Alta Equipment Group, Inc. and the other credit parties named 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 June 30, 2022, the Company had an outstanding balance on their First Lien Floor Plan Facility of $ 42.7 million, excluding unamortized debt issuance costs. The effective interest rate at June 30, 2022 was 3.9 % . 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 June 30, 2022 ranged from 3.8 % to 5.9 % . As of June 30, 2022 and December 31, 2021, the Company had an outstanding balance on the OEM Floor Plan Facilities of $ 156.0 million and $ 124.3 million, respectively. The total aggregate amount of financing under the Floor Plan Facilities cannot exceed $35 0.0 million at any time. The total outstanding balance under the Floor Plan Facilities as of June 30, 2022 and December 31, 2021, was $ 198.7 million and $ 154.9 million, respectively, excluding unamortized debt issuance costs. For the six months ended June 30, 2022 and 2021, the Company recognized interest expense associated with new equipment financed under its Floor Plan Facilities of $ 0.8 million and $ 1.0 million, respectively, and $ 0.5 million for both the three months ended June 30, 2022 and 2021. Maximum borrowings under the Floor Plan Facilities and ABL Facility are limited to $ 700.0 million unless certain other conditions are met. The total amount outstanding as of June 30, 2022 and December 31, 2021, was $ 324.3 million and $ 255.6 million, exclusive of debt issuance and deferred financings costs of $ 2.1 million and $ 2.4 million, respectively.

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 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. As of June 30, 2022, outstanding borrowings under the Notes were $ 310.4 million, which included $ 4.6 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 Condensed Consolidated Statements of Income (Loss). This was in accordance with Topic 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): June 30, December 31, 2022 2021 High yield notes $ 315.0 $ 315.0 Unamortized debt issuance costs ( 1.0 ) ( 1.0 ) Debt discount ( 3.6 ) ( 4.0 ) Finance leases 15.0 11.6 Total debt and finance leases $ 325.4 $ 321.6 Less: current maturities ( 3.1 ) ( 2.6 ) Long-term debt and finance leases, net $ 322.3 $ 319.0 As of June 30, 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 June 30, 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 Condensed 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	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
LEASES	NOTE 11 — LEASES The Company adopted Topic 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 Topic 842. 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 Condensed Consolidated Statements of Income (Loss). Sublease income below includes subleases that are not included in "Rental revenue" due to being outside our normal business operations. The costs of the head lease for these subleases are included in operating lease expense below. At June 30, 2022 and December 31, 2021, assets recorded under finance leases, net of accumulated depreciation were $ 14.6 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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease expense $ 6.3 $ 5.9 $ 12.3 $ 11.7 Short-term lease expense 0.7 0.7 1.7 2.4 Low-value lease expense 0.1 0.2 0.1 0.4 Variable lease expense 1.5 0.1 2.7 0.1 Finance lease expense: Amortization of right-of-use assets 0.9 0.5 1.7 0.7 Interest on lease liabilities 0.2 0.1 0.4 0.2 Sublease income ( 0.1 ) — ( 0.1 ) — Total lease expense $ 9.6 $ 7.5 $ 18.8 $ 15.5 Other information related to leases is presented in the table below (amounts in millions unless otherwise noted): Supplemental Cash Flows Information Six Months Ended June 30, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 11.8 $ 11.2 Operating cash flows for finance leases 0.4 0.2 Financing cash flows for finance leases 1.6 0.7 Non-cash right-of-use assets obtained in exchange for lease obligations: Operating leases 4.7 5.1 Finance leases 5.0 8.1 Weighted Average Remaining Lease Term (in years): Operating leases 7.1 7.0 Finance leases 4.8 4.9 Weighted Average Discount Rate (in %): Operating leases 6.6 6.5 Finance leases 6.0 5.6 Minimum future lease payments under non-cancellable operating and finance leases described above as of June 30, 2022 were as follows (amounts in millions): Years Operating Leases Finance Leases Remainder of 2022 $ 11.3 $ 2.0 2023 21.7 3.7 2024 20.4 3.6 2025 17.2 3.4 2026 14.5 2.8 Thereafter 46.5 1.7 Total future minimum lease payments $ 131.6 $ 17.2 Less: imputed interest ( 30.4 ) ( 2.2 ) Total $ 101.2 $ 15.0 Amounts recognized in the Condensed Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021 June 30, 2022 December 31, 2021 Current portion of long-term debt $ 3.1 $ 2.6 Current operating lease liabilities 16.3 16.2 Finance lease obligations, net of current portion 11.9 9.0 Long-term operating lease liabilities, net of current portion 84.9 88.4 $ 116.2 $ 116.2 As of June 30, 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 $ 8.5 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	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE 12 — CONTIN GENCIES Guarantees As of June 30, 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 $ 1.4 million and $ 1.7 million at June 30, 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 Condensed Consolidated Balance Sheets at June 30, 2022 and December 31, 2021, respectively. Legal Proceedings During the six months ended June 30, 2022 and 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 condensed 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 June 30, 2022 and December 31, 2021 there was $ 4.9 million and $ 3.4 million in outstanding letters of credits issued in the normal course of business, respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2022 and 2021 consisted of the following (amounts in millions): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Federal taxes-current $ 0.4 $ — $ 0.4 $ — Federal taxes-deferred — — — 0.4 State taxes-current 0.1 — 0.1 — State taxes-deferred — — — 0.1 $ 0.5 $ — $ 0.5 $ 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 $ 0.5 million and $ 0.0 million for the three months ended June 30, 2022 and 2021, respectively, and $ 0.5 million and $ 0.5 million for the six months ended June 30, 2022 and 2021, respectively. As a result of Alta’s second 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 six months ended June 30, 2022 and 2021 was 9.3 % and ( 2.2 )% , 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 June 30, 2022 and December 31, 2021, we have deferred employer payroll taxes of $ 5.0 million.

Equity

Equity	6 Months Ended
	Jun. 30, 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 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. We declared dividends on our outstanding preferred shares in 2022 and 2021 as shown in the table below. Date dividend declared Record date Payment date Dividend per share ($) April 9, 2021 April 15, 2021 April 30, 2021 $ 0.890 July 2, 2021 July 15, 2021 August 2, 2021 $ 0.625 October 4, 2021 October 15, 2021 November 1, 2021 $ 0.625 January 4, 2022 January 15, 2022 January 31, 2022 $ 0.625 April 5, 2022 April 15, 2022 May 2, 2022 $ 0.625 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	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
SHARE BASED COMPENSATION	NOTE 15 — SHARE - BASED COMPENSATION During the six months ended June 30, 2022, the Compensation Committee of our Board of Directors approved the grant of 128,574 shares of Restricted Stock Units ("RSUs") and 339,227 shares of Performance Stock Units ("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 three years including the one-year performance period . The Company recognized total RSU compensation expense of $ 0.5 million and $ 0.2 million for the three months ended June 30, 2022 and 2021, respectively, and $ 0.8 million and $ 0.5 for the six months ended June 30, 2022 and 2021, respectively. The Company recognized total PSU compensation expense of $ 0.3 million for both the three and six months ended June 30, 2022 . There were no PSUs granted prior to 2022, therefore there was no PSU expense in 2021. As of June 30, 2022, the total unrecognized compensation expense related to the non-vested portion of the Company's restricted stock awards was $ 2.8 million , which is expected to be recognized over a weighted average period of 1.8 years. As of June 30, 2022, the total unrecognized compensation expense related to the non-vested portion of the Company's performance stock awards was $ 3.8 million , which is expected to be recognized over a weighted average period of 2.3 years. The following table summarizes our RSUs and PSUs that were granted and vested during the six months ended June 30, 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 128,574 11.82 339,227 12.14 Vested - issued ( 90,649 ) 9.24 — — Vested - unissued ( 37,324 ) 13.16 — — Unvested units as of June 30, 2022 309,893 $ 10.31 339,227 $ 12.14

Fair Value Instruments

Fair Value Instruments	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE INSTRUMENTS	NOTE 16 — FAIR VALUE INSTRUMENTS The carrying value of financial instruments reported in the accompanying Condensed 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 approximate the fair value as of June 30, 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 Condensed Consolidated Statements of Income (Loss). The following table sets forth, by level of hierarchy, the Company’s recurring measures at fair value as of June 30, 2022 and December 31, 2021, which was presented in “Other current liabilities” and “Other liabilities” on the Condensed Consolidated Balance Sheets (amounts in millions): June 30, 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 June 30, 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, June 30, 2022 $ 2.9

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
BUSINESS COMBINATIONS	NOTE 17 — BUSIN ESS COMBINATIONS The following table summarizes the net assets acquired by segment from the 2021 acquisitions (amounts in millions): Material Handling Construction Total Cash $ 0.5 $ 1.2 $ 1.7 Accounts receivable, net of allowances 0.9 7.8 8.7 Inventories, net 0.6 28.2 28.8 Prepaid expenses and other current assets 0.4 0.6 1.0 Rental fleet, net — 13.1 13.1 Property and equipment, net 0.6 3.0 3.6 Other intangible assets, net 0.9 19.0 19.9 Goodwill 1.5 19.6 21.1 Total Assets $ 5.4 $ 92.5 $ 97.9 Floor plan payable — ( 17.1 ) ( 17.1 ) Accounts payable ( 0.3 ) ( 4.7 ) ( 5.0 ) Accrued expenses ( 0.1 ) ( 2.7 ) ( 2.8 ) Customer deposits ( 0.3 ) ( 1.5 ) ( 1.8 ) Other current liabilities ( 0.9 ) — ( 0.9 ) Deferred tax liability — ( 3.7 ) ( 3.7 ) Other liabilities — ( 0.7 ) ( 0.7 ) Total liabilities $ ( 1.6 ) $ ( 30.4 ) $ ( 32.0 ) Net Assets Acquired $ 3.8 $ 62.1 $ 65.9 Assets acquired net of cash $ 3.3 $ 60.9 $ 64.2 During 2022, we have had purchase price accounting adjustments related to 2021 acquisitions which were not significant individually or in the aggregate. See the Condensed Consolidated Statements of Cash Flows for the total cash outflow in "Expenditures for acquisitions, net of cash acquired." We describe our 2021 acquisitions in more detail in Note 20 of the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2021.

Segments

Segments	6 Months Ended
	Jun. 30, 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 June 30, 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 June 30, 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 June 30, 2022 (amounts in millions): Three Months Ended June 30, 2022 Material Construction Corporate Total New and used equipment sales $ 72.1 $ 145.2 $ — $ 217.3 Parts sales 20.1 38.2 — 58.3 Service revenue 26.9 24.8 — 51.7 Rental revenue 14.2 29.4 — 43.6 Rental equipment sales 2.2 33.4 — 35.6 Total revenues $ 135.5 $ 271.0 $ — $ 406.5 Interest expense 2.6 3.8 0.4 6.8 Depreciation and amortization 6.1 21.2 — 27.3 Income (loss) before taxes 4.9 6.3 ( 4.6 ) 6.6 The following table presents the Company’s results of operations by reportable segment for the six months ended June 30, 2022 (amounts in millions): Six Months Ended June 30, 2022 Material Construction Corporate Total New and used equipment sales $ 139.0 $ 229.9 $ — $ 368.9 Parts sales 39.3 72.4 — 111.7 Service revenue 53.6 46.3 — 99.9 Rental revenue 27.0 54.3 — 81.3 Rental equipment sales 2.2 74.2 — 76.4 Total revenues $ 261.1 $ 477.1 $ — $ 738.2 Interest expense 4.9 7.3 0.7 12.9 Depreciation and amortization 11.4 40.1 — 51.5 Income (loss) before taxes 8.9 4.2 ( 7.7 ) 5.4 The following table presents the Company’s results of operations by reportable segment for the three months ended June 30, 2021 (amounts in millions): Three Months Ended June 30, 2021 Material Construction Corporate Total New and used equipment sales $ 60.1 $ 71.9 $ — $ 132.0 Parts sales 15.7 28.4 — 44.1 Service revenue 24.1 18.3 — 42.4 Rental revenue 11.4 26.8 — 38.2 Rental equipment sales 0.3 35.7 — 36.0 Total revenues $ 111.6 $ 181.1 $ — $ 292.7 Interest expense 2.0 3.7 0.3 6.0 Depreciation and amortization 4.6 19.3 — 23.9 Income (loss) before taxes 1.9 ( 1.7 ) ( 14.9 ) ( 14.7 ) The following table presents the Company’s results of operations by reportable segment for the six months ended June 30, 2021 (amounts in millions): Six Months Ended June 30, 2021 Material Construction Corporate Total New and used equipment sales $ 117.5 $ 138.3 $ — $ 255.8 Parts sales 30.9 54.6 — 85.5 Service revenue 46.7 34.4 — 81.1 Rental revenue 22.5 48.8 — 71.3 Rental equipment sales 0.8 67.0 — 67.8 Total revenues $ 218.4 $ 343.1 $ — $ 561.5 Interest expense 4.2 6.8 0.8 11.8 Depreciation and amortization 9.2 36.1 — 45.3 Income (loss) before taxes 3.2 ( 5.0 ) ( 18.1 ) ( 19.9 ) The following table presents the Company’s identified assets by reportable segment as of June 30, 2022 and December 31, 2021 (amounts in millions): June 30, December 31, Segment assets: Material handling $ 360.0 $ 325.1 Construction equipment 705.3 655.8 Corporate 5.8 1.7 Total assets $ 1,071.1 $ 982.6

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 19 — EAR NINGS PER SHARE Basic earnings per share is calculated by dividing net income or loss 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 equity awards 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 and six months ended June 30, 2022 and 2021 were calculated as follows (amounts in millions, except per share amounts): Three Months Ended Six Months Ended 2022 2021 2022 2021 Basic net income (loss) per share Net income (loss) $ 5.4 $ ( 15.8 ) $ 3.4 $ ( 21.5 ) Basic weighted average common shares outstanding 31,933,032 32,403,151 32,147,015 31,204,239 Basic net income (loss) per share of common stock $ 0.17 $ ( 0.49 ) $ 0.11 $ ( 0.69 ) Diluted income (loss) per share Net income (loss) $ 5.4 $ ( 15.8 ) $ 3.4 $ ( 21.5 ) Basic weighted average common shares outstanding 31,933,032 32,403,151 32,147,015 31,204,239 Effect of dilutive securities: Effect of dilutive non-vested restricted stock units 218,480 150,375 220,795 140,278 Diluted weighted average common shares outstanding 32,151,512 32,553,526 32,367,810 31,344,518 Diluted net income (loss) per share of common stock $ 0.17 $ ( 0.49 ) $ 0.11 $ ( 0.69 )

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 20 — SUB SEQUENT EVENTS On July 6, 2022 the Company Board of Directors (the “Board”) approved the initiation of a regular quarterly cash dividend for each of the Company’s issued and outstanding shares of common stock, par value $ 0.0001 per share (“common stock”). The common stock dividend is $ 0.057 per share, or approximately $ 0.23 per share on an annualized basis. The first common stock dividend will be payable on August 31st, 2022 to shareholders of record as of August 15th, 2022 . The continuation of future cash dividends will be determined by the Board, at its sole discretion, after review of the Company’s financial performance and other factors, and is dependent on earnings, operations, capital requirements, general financial condition of the Company and general business conditions. In addition to its approval of the common stock dividend detailed above, on July 6, 2022 the Company's Board approved a share repurchase program authorizing Alta to repurchase shares of its common stock for an aggregate purchase price of not more than $ 12.5 million. The share repurchase program is in accordance with Rule 10b-18 of the Exchange Act. Subject to applicable rules and regulations, the Company intends to repurchase shares of its common stock from time-to-time in the open market or by negotiated transactions. Such purchases will be at times and in amounts as the Company deems appropriate, based on market conditions, cash reserves, cash flow and the balancing of uses of cash for operations, growth, and share repurchase. The amount and timing of repurchases will be based on a variety of factors, including stock acquisition price, regulatory limitations and other market and economic factors. No limit was placed on the duration of the repurchase program. The stock repurchase program does not require the Company to repurchase any specific number of shares, and the Company may terminate the repurchase program at any time. On July 29, 2022 the Company acquired the stock of Yale Industrial Trucks Inc. ("YIT"), a privately held Canadian equipment distributor with locations in Ontario and Quebec. YIT generated approximately $ 46.6 million in revenue and adjusted EBITDA of $ 9.4 million in the trailing twelve months through May 2022. The implied enterprise value of the acquisition is estimated to be approximately $ 33.5 million, subject to post-closing purchase price adjustments. In connection with the acquisition of the stock of YIT, on July 6, 2022 the Company amended its Sixth Amended and Restated ABL First Lien Credit Agreement along with its Sixth Amended and Restated Floor Plan First Lien Credit Agreement, both dated April 1, 2021, by and between the Company and other credit parties named therein, and the lender JP Morgan Chase Bank, N.A., as Administrative Agent. The amendment, among other things, (i) exercised $ 80 million of the $ 150 million accordion function included in the Company’s asset-based revolving line of credit increasing borrowing capacity from $ 350 million to $ 430 million, which includes a $ 35 million Canadian-denominated sublimit facility; and (ii) increased the maximum borrowing capacity of its revolving floor plan facility by $ 10 million from $ 50 million to $ 60 million.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of condensed 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 condensed 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.
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 model 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 be applicable 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 condensed consolidated financial statements or existing internal controls.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Summary of Disaggregated Revenues	The following table summarizes the Company’s disaggregated revenues as presented in the Condensed Consolidated Statements of Income (Loss) for the three months ended June 30, 2022 and 2021 by revenue type, and by the applicable accounting standard. Three Months Ended Three Months Ended Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: New and used equipment sales $ — $ 217.3 $ 217.3 $ — $ 132.0 $ 132.0 Parts sales — 58.3 58.3 — 44.1 44.1 Service revenue — 51.7 51.7 — 42.4 42.4 Rental revenue 43.6 — 43.6 38.2 — 38.2 Rental equipment sales — 35.6 35.6 — 36.0 36.0 Total revenues $ 43.6 $ 362.9 $ 406.5 $ 38.2 $ 254.5 $ 292.7 The following table summarizes the Company’s disaggregated revenues as presented in the Condensed Consolidated Statements of Income (Loss) for the six months ended June 30, 2022 and 2021 by revenue type, and by the applicable accounting standard. Six Months Ended Six Months Ended Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: New and used equipment sales $ — $ 368.9 $ 368.9 $ — $ 255.8 $ 255.8 Parts sales — 111.7 111.7 — 85.5 85.5 Service revenue — 99.9 99.9 — 81.1 81.1 Rental revenue 81.3 — 81.3 71.3 — 71.3 Rental equipment sales — 76.4 76.4 — 67.8 67.8 Total revenues $ 81.3 $ 656.9 $ 738.2 $ 71.3 $ 490.2 $ 561.5

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Summary of Components of Inventories, Net	The components of inventories, net, consisted of the following (amounts in millions): June 30, December 31, 2022 2021 New equipment $ 184.7 $ 146.0 Used equipment 46.5 34.3 Work in process 8.2 6.7 Parts 62.6 55.7 Gross inventory $ 302.0 $ 242.7 Inventory reserves ( 5.4 ) ( 3.5 ) Inventories, net $ 296.6 $ 239.2

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net, consisted of the following (amounts in millions): June 30, December 31, 2022 2021 Land $ 2.1 $ 2.1 Rental fleet 474.1 461.4 Equipment and leasehold improvements: Machinery and equipment 8.4 7.2 Autos and trucks 6.9 6.6 Leasehold improvements 12.2 10.6 Finance lease right-of-use assets 18.7 15.1 Office equipment 3.7 3.5 Computer equipment 11.8 11.1 Total cost $ 537.9 $ 517.6 Less: accumulated depreciation and amortization Rental fleet $ ( 164.7 ) $ ( 149.8 ) Equipment, autos and trucks, leasehold improvements, finance leases and office and computer equipment ( 26.5 ) ( 23.3 ) Total accumulated depreciation and amortization $ ( 191.2 ) $ ( 173.1 ) Property and equipment, net $ 346.7 $ 344.5

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 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 during the periods ended June 30, 2022 and December 31, 2021 (amounts in millions): Material Construction Total Balance, Year Ended 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 Additions 0.1 — 0.1 Adjustments to purchase price allocations — 2.1 2.1 Balance, June 30, 2022 $ 11.7 $ 32.4 $ 44.1

Other Intangible Assets (Tables

Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Gross Carrying Amount of Other Intangible Assets and Accumulated Amortization	The gross carrying amount of other intangible assets and accumulated amortization as of June 30, 2022 and December 31, 2021 were as follows (amounts in millions): June 30, 2022 Weighted Average Remaining Life (in years) Gross carrying Accumulated Net carrying Customer relationships 8.5 $ 44.8 $ ( 8.1 ) $ 36.7 Tradenames 4.0 4.5 ( 1.5 ) 3.0 Non-compete agreements 2.8 0.7 ( 0.3 ) 0.4 Internal use software 2.7 0.5 ( 0.2 ) 0.3 Total 8.1 $ 50.5 $ ( 10.1 ) $ 40.4 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)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt	The Company’s long-term debt consists of the following (amounts in millions): June 30, December 31, 2022 2021 High yield notes $ 315.0 $ 315.0 Unamortized debt issuance costs ( 1.0 ) ( 1.0 ) Debt discount ( 3.6 ) ( 4.0 ) Finance leases 15.0 11.6 Total debt and finance leases $ 325.4 $ 321.6 Less: current maturities ( 3.1 ) ( 2.6 ) Long-term debt and finance leases, net $ 322.3 $ 319.0

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease expense $ 6.3 $ 5.9 $ 12.3 $ 11.7 Short-term lease expense 0.7 0.7 1.7 2.4 Low-value lease expense 0.1 0.2 0.1 0.4 Variable lease expense 1.5 0.1 2.7 0.1 Finance lease expense: Amortization of right-of-use assets 0.9 0.5 1.7 0.7 Interest on lease liabilities 0.2 0.1 0.4 0.2 Sublease income ( 0.1 ) — ( 0.1 ) — Total lease expense $ 9.6 $ 7.5 $ 18.8 $ 15.5
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 Six Months Ended June 30, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 11.8 $ 11.2 Operating cash flows for finance leases 0.4 0.2 Financing cash flows for finance leases 1.6 0.7 Non-cash right-of-use assets obtained in exchange for lease obligations: Operating leases 4.7 5.1 Finance leases 5.0 8.1 Weighted Average Remaining Lease Term (in years): Operating leases 7.1 7.0 Finance leases 4.8 4.9 Weighted Average Discount Rate (in %): Operating leases 6.6 6.5 Finance leases 6.0 5.6
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 June 30, 2022 were as follows (amounts in millions): Years Operating Leases Finance Leases Remainder of 2022 $ 11.3 $ 2.0 2023 21.7 3.7 2024 20.4 3.6 2025 17.2 3.4 2026 14.5 2.8 Thereafter 46.5 1.7 Total future minimum lease payments $ 131.6 $ 17.2 Less: imputed interest ( 30.4 ) ( 2.2 ) Total $ 101.2 $ 15.0 Amounts recognized in the Condensed Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021 June 30, 2022 December 31, 2021 Current portion of long-term debt $ 3.1 $ 2.6 Current operating lease liabilities 16.3 16.2 Finance lease obligations, net of current portion 11.9 9.0 Long-term operating lease liabilities, net of current portion 84.9 88.4 $ 116.2 $ 116.2

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Income Tax Provision	The income tax provision for the three and six months ended June 30, 2022 and 2021 consisted of the following (amounts in millions): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Federal taxes-current $ 0.4 $ — $ 0.4 $ — Federal taxes-deferred — — — 0.4 State taxes-current 0.1 — 0.1 — State taxes-deferred — — — 0.1 $ 0.5 $ — $ 0.5 $ 0.5

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Equity And Warrants [Abstract]
Summary of Declared Dividends on Outstanding Preferred Shares	We declared dividends on our outstanding preferred shares in 2022 and 2021 as shown in the table below. Date dividend declared Record date Payment date Dividend per share ($) April 9, 2021 April 15, 2021 April 30, 2021 $ 0.890 July 2, 2021 July 15, 2021 August 2, 2021 $ 0.625 October 4, 2021 October 15, 2021 November 1, 2021 $ 0.625 January 4, 2022 January 15, 2022 January 31, 2022 $ 0.625 April 5, 2022 April 15, 2022 May 2, 2022 $ 0.625

Share Based Compensation (Table

Share Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summary of RSUs and PSUs were Granted and Vested	The following table summarizes our RSUs and PSUs that were granted and vested during the six months ended June 30, 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 128,574 11.82 339,227 12.14 Vested - issued ( 90,649 ) 9.24 — — Vested - unissued ( 37,324 ) 13.16 — — Unvested units as of June 30, 2022 309,893 $ 10.31 339,227 $ 12.14

Fair Value Instruments (Tables)

Fair Value Instruments (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2022 and December 31, 2021, which was presented in “Other current liabilities” and “Other liabilities” on the Condensed Consolidated Balance Sheets (amounts in millions): June 30, 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 June 30, 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, June 30, 2022 $ 2.9

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Jun. 30, 2022
Business Acquisition [Line Items]
Summary of Net Assets Acquired from Acquisition	The following table summarizes the net assets acquired by segment from the 2021 acquisitions (amounts in millions): Material Handling Construction Total Cash $ 0.5 $ 1.2 $ 1.7 Accounts receivable, net of allowances 0.9 7.8 8.7 Inventories, net 0.6 28.2 28.8 Prepaid expenses and other current assets 0.4 0.6 1.0 Rental fleet, net — 13.1 13.1 Property and equipment, net 0.6 3.0 3.6 Other intangible assets, net 0.9 19.0 19.9 Goodwill 1.5 19.6 21.1 Total Assets $ 5.4 $ 92.5 $ 97.9 Floor plan payable — ( 17.1 ) ( 17.1 ) Accounts payable ( 0.3 ) ( 4.7 ) ( 5.0 ) Accrued expenses ( 0.1 ) ( 2.7 ) ( 2.8 ) Customer deposits ( 0.3 ) ( 1.5 ) ( 1.8 ) Other current liabilities ( 0.9 ) — ( 0.9 ) Deferred tax liability — ( 3.7 ) ( 3.7 ) Other liabilities — ( 0.7 ) ( 0.7 ) Total liabilities $ ( 1.6 ) $ ( 30.4 ) $ ( 32.0 ) Net Assets Acquired $ 3.8 $ 62.1 $ 65.9 Assets acquired net of cash $ 3.3 $ 60.9 $ 64.2

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2022 (amounts in millions): Three Months Ended June 30, 2022 Material Construction Corporate Total New and used equipment sales $ 72.1 $ 145.2 $ — $ 217.3 Parts sales 20.1 38.2 — 58.3 Service revenue 26.9 24.8 — 51.7 Rental revenue 14.2 29.4 — 43.6 Rental equipment sales 2.2 33.4 — 35.6 Total revenues $ 135.5 $ 271.0 $ — $ 406.5 Interest expense 2.6 3.8 0.4 6.8 Depreciation and amortization 6.1 21.2 — 27.3 Income (loss) before taxes 4.9 6.3 ( 4.6 ) 6.6 The following table presents the Company’s results of operations by reportable segment for the six months ended June 30, 2022 (amounts in millions): Six Months Ended June 30, 2022 Material Construction Corporate Total New and used equipment sales $ 139.0 $ 229.9 $ — $ 368.9 Parts sales 39.3 72.4 — 111.7 Service revenue 53.6 46.3 — 99.9 Rental revenue 27.0 54.3 — 81.3 Rental equipment sales 2.2 74.2 — 76.4 Total revenues $ 261.1 $ 477.1 $ — $ 738.2 Interest expense 4.9 7.3 0.7 12.9 Depreciation and amortization 11.4 40.1 — 51.5 Income (loss) before taxes 8.9 4.2 ( 7.7 ) 5.4 The following table presents the Company’s results of operations by reportable segment for the three months ended June 30, 2021 (amounts in millions): Three Months Ended June 30, 2021 Material Construction Corporate Total New and used equipment sales $ 60.1 $ 71.9 $ — $ 132.0 Parts sales 15.7 28.4 — 44.1 Service revenue 24.1 18.3 — 42.4 Rental revenue 11.4 26.8 — 38.2 Rental equipment sales 0.3 35.7 — 36.0 Total revenues $ 111.6 $ 181.1 $ — $ 292.7 Interest expense 2.0 3.7 0.3 6.0 Depreciation and amortization 4.6 19.3 — 23.9 Income (loss) before taxes 1.9 ( 1.7 ) ( 14.9 ) ( 14.7 ) The following table presents the Company’s results of operations by reportable segment for the six months ended June 30, 2021 (amounts in millions): Six Months Ended June 30, 2021 Material Construction Corporate Total New and used equipment sales $ 117.5 $ 138.3 $ — $ 255.8 Parts sales 30.9 54.6 — 85.5 Service revenue 46.7 34.4 — 81.1 Rental revenue 22.5 48.8 — 71.3 Rental equipment sales 0.8 67.0 — 67.8 Total revenues $ 218.4 $ 343.1 $ — $ 561.5 Interest expense 4.2 6.8 0.8 11.8 Depreciation and amortization 9.2 36.1 — 45.3 Income (loss) before taxes 3.2 ( 5.0 ) ( 18.1 ) ( 19.9 )
Summary of Identified Assets by Reportable Segment	The following table presents the Company’s identified assets by reportable segment as of June 30, 2022 and December 31, 2021 (amounts in millions): June 30, December 31, Segment assets: Material handling $ 360.0 $ 325.1 Construction equipment 705.3 655.8 Corporate 5.8 1.7 Total assets $ 1,071.1 $ 982.6

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Summary of Basic and Diluted Earnings Per Share	Basic and diluted earnings per share for the three and six months ended June 30, 2022 and 2021 were calculated as follows (amounts in millions, except per share amounts): Three Months Ended Six Months Ended 2022 2021 2022 2021 Basic net income (loss) per share Net income (loss) $ 5.4 $ ( 15.8 ) $ 3.4 $ ( 21.5 ) Basic weighted average common shares outstanding 31,933,032 32,403,151 32,147,015 31,204,239 Basic net income (loss) per share of common stock $ 0.17 $ ( 0.49 ) $ 0.11 $ ( 0.69 ) Diluted income (loss) per share Net income (loss) $ 5.4 $ ( 15.8 ) $ 3.4 $ ( 21.5 ) Basic weighted average common shares outstanding 31,933,032 32,403,151 32,147,015 31,204,239 Effect of dilutive securities: Effect of dilutive non-vested restricted stock units 218,480 150,375 220,795 140,278 Diluted weighted average common shares outstanding 32,151,512 32,553,526 32,367,810 31,344,518 Diluted net income (loss) per share of common stock $ 0.17 $ ( 0.49 ) $ 0.11 $ ( 0.69 )

Organization and Nature of Op_2

Organization and Nature of Operations - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Expenditures for guaranteed purchase obligations	$ 1.7	$ 1.2

Revenue Recognition - Summary o

Revenue Recognition - Summary of Disaggregated Revenues (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Total revenues	$ 406.5	$ 292.7	$ 738.2	$ 561.5
Topic 842
Revenues:
Total revenues	43.6	38.2	81.3	71.3
Topic 606
Revenues:
Total revenues	362.9	254.5	656.9	490.2
New and Used Equipment Sales
Revenues:
Total revenues	217.3	132	368.9	255.8
New and Used Equipment Sales | Topic 606
Revenues:
Total revenues	217.3	132	368.9	255.8
Parts Sales
Revenues:
Total revenues	58.3	44.1	111.7	85.5
Parts Sales | Topic 606
Revenues:
Total revenues	58.3	44.1	111.7	85.5
Service Revenue
Revenues:
Total revenues	51.7	42.4	99.9	81.1
Service Revenue | Topic 606
Revenues:
Total revenues	51.7	42.4	99.9	81.1
Rental Revenue
Revenues:
Total revenues	43.6	38.2	81.3	71.3
Rental Revenue | Topic 842
Revenues:
Total revenues	43.6	38.2	81.3	71.3
Rental Equipment Sales
Revenues:
Total revenues	35.6	36	76.4	67.8
Rental Equipment Sales | Topic 606
Revenues:
Total revenues	$ 35.6	$ 36	$ 76.4	$ 67.8

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Disaggregation Of Revenue [Line Items]
Total revenues	$ 406.5	$ 292.7	$ 738.2	$ 561.5
Revenue recognized from guaranteed maintenance contracts	5.3	4.6	10.6	8.9
Contract with customer, assets	5.5		5.5		$ 6
Deferred revenue recognized	8.2	2.2	10.5	5.6
Automated Equipment Installation and System Integration Services
Disaggregation Of Revenue [Line Items]
Deferred revenue	22.3		22.3		16.5
Service Maintenance Contracts
Disaggregation Of Revenue [Line Items]
Deferred revenue	22.3		22.3		16.5
Equipment Rental Agreements
Disaggregation Of Revenue [Line Items]
Deferred revenue	22.3		22.3		16.5
Equipment
Disaggregation Of Revenue [Line Items]
Deferred revenue	2.3		2.3		2.9
Recognized liability for guarantee to repurchase	6.6		6.6		7.2
Service Sales Agreements, Rental Agreements and Automated Equipment Installation and System Integration Services
Disaggregation Of Revenue [Line Items]
Deferred revenue	24.6		24.6		$ 19.4
Design and Build Solutions, Automated Equipment Installation and System Integration and Software Services
Disaggregation Of Revenue [Line Items]
Total revenues	$ 22.4	$ 13.5	$ 39.1	$ 21.4

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Operating right-of-use assets	$ 98,200,000		$ 98,200,000		$ 102,600,000
Operating lease liabilities	101,200,000		101,200,000
OneH2, Inc.
Related Party Transaction [Line Items]
Purchases from related party					0
Vendor deposit	200,000		200,000
OneH2, Inc. | Hydrogen Fuel
Related Party Transaction [Line Items]
Purchases from related party			45,000
Related Party Lease Agreements
Related Party Transaction [Line Items]
Operating lease, Rent expense	1,200,000	$ 1,200,000	2,400,000	$ 2,400,000
Operating right-of-use assets	22,300,000		22,300,000		24,000,000
Operating lease liabilities	$ 24,700,000		$ 24,700,000		$ 26,300,000

Inventories - Summary of Compon

Inventories - Summary of Components of Inventories, Net (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
New equipment	$ 184.7	$ 146
Used equipment	46.5	34.3
Work in process	8.2	6.7
Parts	62.6	55.7
Gross inventory	302	242.7
Inventory reserves	(5.4)	(3.5)
Inventories, net	$ 296.6	$ 239.2

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Inventory Disclosure [Abstract]
Capitalized direct labor expense included in work in process	$ 1.7		$ 1.7		$ 1.6
Rental depreciation expense	$ 1.7	$ 1	$ 3.1	$ 3.2

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Property Plant and Equipment [Line Items]
Total cost	$ 537.9	$ 517.6
Total accumulated depreciation and amortization	(191.2)	(173.1)
Property and equipment, net	346.7	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	474.1	461.4
Total accumulated depreciation and amortization	(164.7)	(149.8)
Machinery and Equipment
Property Plant and Equipment [Line Items]
Total cost	8.4	7.2
Autos and Trucks
Property Plant and Equipment [Line Items]
Total cost	6.9	6.6
Leasehold Improvements
Property Plant and Equipment [Line Items]
Total cost	12.2	10.6
Finance Lease Right of Use Assets
Property Plant and Equipment [Line Items]
Total cost	18.7	15.1
Office Equipment
Property Plant and Equipment [Line Items]
Total cost	3.7	3.5
Computer Equipment
Property Plant and Equipment [Line Items]
Total cost	11.8	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	$ (26.5)	$ (23.3)

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Property Plant and Equipment [Line Items]
Depreciation and amortization on property and equipment	$ 27.3	$ 23.9	$ 51.5	$ 45.3
GPO Assets	9.9		9.9		$ 9.7
Property and Equipment
Property Plant and Equipment [Line Items]
Depreciation and amortization on property and equipment	24	$ 21.8	45.4	$ 40.3
Machinery and Equipment
Property Plant and Equipment [Line Items]
Finance lease assets, gross carrying values	18.7		18.7		15.1
Finance leases assets, accumulated amortization balances	4.1		4.1		3.8
Rental Fleet
Property Plant and Equipment [Line Items]
Finance leases assets, accumulated amortization balances	$ 474.1		$ 474.1		$ 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	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Goodwill [Line Items]
Beginning balance	$ 41.9	$ 24.3
Additions	0.1	19
Adjustments to purchase price allocations	(2.1)	(1.4)
Ending balance	44.1	41.9
Material Handling
Goodwill [Line Items]
Beginning balance	11.6	10.2
Additions	0.1	1.4
Ending balance	11.7	11.6
Construction Equipment
Goodwill [Line Items]
Beginning balance	30.3	14.1
Additions		17.6
Adjustments to purchase price allocations	(2.1)	(1.4)
Ending balance	$ 32.4	$ 30.3

Other Intangible Assets - Sched

Other Intangible Assets - Schedule of Gross Carrying Amount of Other Intangible Assets and Accumulated Amortization (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	8 years 1 month 6 days	8 years 6 months
Gross carrying amount	$ 50.5	$ 50.5
Accumulated amortization	(10.1)	(7.1)
Net carrying amount	$ 40.4	$ 43.4
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	8 years 6 months	9 years
Gross carrying amount	$ 44.8	$ 44.8
Accumulated amortization	8.1	(5.9)
Net carrying amount	$ 36.7	$ 38.9
Tradenames
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	4 years	4 years 3 months 18 days
Gross carrying amount	$ 4.5	$ 4.5
Accumulated amortization	1.5	(0.9)
Net carrying amount	$ 3	$ 3.6
Non-compete Agreements
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	2 years 9 months 18 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 8 months 12 days	3 years 2 months 12 days
Gross carrying amount	$ 0.5	$ 0.5
Accumulated amortization	(0.2)	(0.1)
Net carrying amount	$ 0.3	$ 0.4

Other Intangible Assets - Addit

Other Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of other intangible assets	$ 1.6	$ 0.8	$ 3	$ 1.5

Lines of Credit and Floor Pla_2

Lines of Credit and Floor Plans - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Apr. 01, 2021
Line Of Credit Facility [Line Items]
Recognized interest expense	$ 6,800,000	$ 6,000,000	$ 12,900,000	$ 11,800,000
First Lien Lender | JP Morgan Chase Bank | ABL Facility
Line Of Credit Facility [Line Items]
Floor plan financing facility	$ 125,600,000		$ 125,600,000		$ 100,700,000
Maximum borrowing capacity						$ 350,000,000
Effective interest rate	3.60%		3.60%		2.30%
First Lien Lender | JP Morgan Chase Bank | First Lien Floor Plan Facility
Line Of Credit Facility [Line Items]
Floor plan financing facility	$ 42,700,000		$ 42,700,000		$ 30,600,000
Maximum borrowing capacity	$ 50,000,000		$ 50,000,000
Effective interest rate	3.90%		3.90%		2.80%
First Lien Lender | JP Morgan Chase Bank | Floor Plans and ABL Facility
Line Of Credit Facility [Line Items]
Floor plan financing facility	$ 324,300,000		$ 324,300,000		$ 255,600,000
Maximum borrowing capacity	700,000,000		700,000,000
Debt issuance costs	2,100,000		2,100,000		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		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		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	$ 156,000,000		$ 156,000,000		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	3.80%		3.80%
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	5.90%		5.90%
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	$ 198,700,000		$ 198,700,000		$ 154,900,000
Maximum borrowing capacity	0		0
Recognized interest expense	$ 500,000	$ 500,000	$ 800,000	$ 1,000,000

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Details) - USD ($) $ in Millions				3 Months Ended	6 Months Ended		12 Months Ended
	Apr. 01, 2021	Jun. 12, 2020	Feb. 14, 2020	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 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.
Loss on extinguishment of debt				$ 11.9		$ 11.9
Imputed interest					$ 0.1	$ 0.2
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%
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%
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					310.4
Original issue discount and deferred financing costs					$ 4.6
Effective interest rate					5.93%

Long-term Debt - Schedule of Lo

Long-term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
High yield notes	$ 315	$ 315
Unamortized debt issuance costs	(1)	(1)
Debt discount	(3.6)	(4)
Finance leases	15	11.6
Total debt and finance leases	325.4	321.6
Less: current maturities	(3.1)	(2.6)
Long-term debt and finance leases, net	$ 322.3	$ 319

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Lessee Lease Description [Line Items]
Assets recorded under finance leases, net of accumulated depreciation	$ 14.6	$ 11.3
Undiscounted future lease payments pertaining to leases that were executed but not yet commenced	$ 8.5
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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Lease, Cost [Abstract]
Operating lease expense	$ 6.3	$ 5.9	$ 12.3	$ 11.7
Short-term lease expense	0.7	0.7	1.7	2.4
Low-value lease expense	0.1	0.2	0.1	0.4
Variable lease expense	1.5	0.1	2.7	0.1
Finance lease expense:
Amortization of right-of-use assets	0.9	0.5	1.7	0.7
Interest on lease liabilities	0.2	0.1	0.4	0.2
Sublease income	(0.1)		(0.1)
Total lease expense	$ 9.6	$ 7.5	$ 18.8	$ 15.5

Leases - Schedule of Other Info

Leases - Schedule of Other Information Related to Leases (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$ 11.8	$ 11.2
Operating cash flows for finance leases	0.4	0.2
Financing cash flows for finance leases	1.6	0.7
Non-cash right-of-use assets obtained in exchange for lease obligations
Operating leases	4.7	5.1
Finance leases	$ 5	$ 8.1
Weighted Average Remaining Lease Term (in years):
Operating leases	7 years 1 month 6 days	7 years
Finance leases	4 years 9 months 18 days	4 years 10 months 24 days
Weighted Average Discount Rate (in %):
Operating leases	6.60%	6.50%
Finance leases	6%	5.60%

Leases - Schedule of Minimum Fu

Leases - Schedule of Minimum Future Lease Payments under Non-cancellable Operating and Finance Leases (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Remainder of 2022	$ 11.3
2023	21.7
2024	20.4
2025	17.2
2026	14.5
Thereafter	46.5
Total future minimum lease payments	131.6
Less: imputed interest	(30.4)
Operating lease expense	101.2
Remainder of 2022	2
2023	3.7
2024	3.6
2025	3.4
2026	2.8
Thereafter	1.7
Total future minimum lease payments	17.2
Less: imputed interest	(2.2)
Finance leases	15	$ 11.6
Current portion of long-term debt	3.1	2.6
Current operating lease liabilities	$ 16.3	$ 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	$ 11.9	$ 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, net of current portion	$ 84.9	$ 88.4
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term operating lease liabilities, net of current portion	Long-term operating lease liabilities, net of current portion
Operating and finance lease liability	$ 116.2	$ 116.2

Contingencies - Additional Info

Contingencies - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Commitments And Contingencies [Line Items]
Estimated exposure of guarantees	$ 1,400,000	$ 1,700,000
Guarantees accrued	0	0
Letter of Credit
Commitments And Contingencies [Line Items]
Floor plan financing facility	$ 4,900,000	$ 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 ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Federal Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal taxes-current	$ 0.4		$ 0.4
Federal taxes-deferred				$ 0.4
State taxes-current	0.1		0.1
State taxes-deferred				0.1
Income tax provision (benefit)	$ 0.5	$ 0	$ 0.5	$ 0.5

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 0.5	$ 0	$ 0.5	$ 0.5
Effective income tax rate			9.30%	(2.20%)
Federal net operating tax loss carryforwards					$ 42.7
Percentage of future taxable income					80%
Deferred employer payroll taxes under CARES act	$ 5		$ 5		$ 5

Equity - Additional Information

Equity - Additional Information (Details)		6 Months Ended	12 Months Ended
	Dec. 22, 2020 USD ($) $ / shares shares	Jun. 30, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares	Apr. 12, 2021 shares
Equity And Warrants [Line Items]
Preferred stock, par value | $ / shares		$ 0.0001	$ 0.0001
Liquidation preference of depository shares, value | $	$ 2,500
Liquidation preference of depository, per share | $ / shares	$ 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 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.
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 | $ / shares	$ 0.0001	$ 0.0001	$ 0.0001
Preferred stock, dividend rate	10%	10%	10%
Liquidation preference, value | $	$ 25,000
Liquidation preference per share in terms of depository share | $ / shares	$ 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

Equity - Summary of Declared Di

Equity - Summary of Declared Dividends on Outstanding Preferred Shares (Details) - Preferred Shares - $ / shares	May 02, 2022	Jan. 31, 2022	Nov. 01, 2021	Aug. 02, 2021	Apr. 30, 2021
Equity And Warrants [Line Items]
Date dividend declared	Apr. 05, 2022	Jan. 04, 2022	Oct. 04, 2021	Jul. 02, 2021	Apr. 09, 2021
Record date	Apr. 15, 2022	Jan. 15, 2022	Oct. 15, 2021	Jul. 15, 2021	Apr. 15, 2021
Payment date	May 02, 2022	Jan. 31, 2022	Nov. 01, 2021	Aug. 02, 2021	Apr. 30, 2021
Dividend per share	$ 0.625	$ 0.625	$ 0.625	$ 0.625	$ 0.890

Share Based Compensation - Addi

Share Based Compensation - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense	$ 500,000	$ 200,000	$ 800,000	$ 500,000
Number of units granted			128,574
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	128,574		128,574
Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense	$ 2,800,000		$ 2,800,000
Unrecognized compensation expense, weighted average recognition period			1 year 9 months 18 days
PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense	300,000		$ 300,000		$ 0
Number of units granted			339,227		0
Unrecognized compensation expense	$ 3,800,000		$ 3,800,000
Unrecognized compensation expense, weighted average recognition period			2 years 3 months 18 days
Share based compensation arrangement by share based payment award award vesting period			3 years
PSUs | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target award amount on number of shares granted			0%
PSUs | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target award amount on number of shares granted			200%
PSUs | 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	339,227		339,227

Share Based Compensation - Summ

Share Based Compensation - Summary of RSUs and PSUs were Granted and Vested (Details) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
RSUs
Number of units
Number of units unvested, Beginning balance	309,292
Number of units, Granted	128,574
Number of units, Vested-issued	(90,649)
Number of units, Vested-unissued	(37,324)
Number of units unvested, Ending balance	309,893	309,292
Weighted average grant date fair value
Weighted average grant date fair value unvested, Beginning balance	$ 9.71
Weighted average grant date fair value, Granted	11.82
Weighted average grant date fair value, Vested-issued	9.24
Weighted average grant date fair value, Vested-unissued	13.16
Weighted average grant date fair value unvested, Ending balance	$ 10.31	$ 9.71
PSUs
Number of units
Number of units unvested, Beginning balance	0
Number of units, Granted	339,227	0
Number of units unvested, Ending balance	339,227	0
Weighted average grant date fair value
Weighted average grant date fair value unvested, Beginning balance	$ 0
Weighted average grant date fair value, Granted	12.14
Weighted average grant date fair value unvested, Ending balance	$ 12.14	$ 0

Fair Value Instruments - Summar

Fair Value Instruments - Summary of Recurring Measures at Fair Value by Level of Hierarchy (Details) - Level 3 - USD ($) $ in Millions	Jun. 30, 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) - Level 3 - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
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
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	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 44.1		$ 41.9	$ 24.3
Assets acquired net of cash	1.5	$ 2.6
Material Handling
Business Acquisition [Line Items]
Goodwill	11.7		11.6	10.2
Construction Equipment
Business Acquisition [Line Items]
Goodwill	32.4		$ 30.3	$ 14.1
2021 Acquisitions
Business Acquisition [Line Items]
Cash	1.7
Accounts receivable, net of allowances	8.7
Inventories, net	28.8
Prepaid expenses and other current assets	1
Rental fleet, net	13.1
Property and equipment, net	3.6
Other intangible assets, net	19.9
Goodwill	21.1
Total Assets	97.9
Floor plan payable	(17.1)
Accounts payable	(5)
Accrued expenses	(2.8)
Customer deposits	(1.8)
Other current liabilities	(0.9)
Deferred tax liability	(3.7)
Other liabilities	(0.7)
Total Liabilities	(32)
Net Assets Acquired	65.9
Assets acquired net of cash	64.2
2021 Acquisitions | Material Handling
Business Acquisition [Line Items]
Cash	0.5
Accounts receivable, net of allowances	0.9
Inventories, net	0.6
Prepaid expenses and other current assets	0.4
Property and equipment, net	0.6
Other intangible assets, net	0.9
Goodwill	1.5
Total Assets	5.4
Accounts payable	(0.3)
Accrued expenses	(0.1)
Customer deposits	(0.3)
Other current liabilities	(0.9)
Total Liabilities	(1.6)
Net Assets Acquired	3.8
Assets acquired net of cash	3.3
2021 Acquisitions | Construction Equipment
Business Acquisition [Line Items]
Cash	1.2
Accounts receivable, net of allowances	7.8
Inventories, net	28.2
Prepaid expenses and other current assets	0.6
Rental fleet, net	13.1
Property and equipment, net	3
Other intangible assets, net	19
Goodwill	19.6
Total Assets	92.5
Floor plan payable	(17.1)
Accounts payable	(4.7)
Accrued expenses	(2.7)
Customer deposits	(1.5)
Deferred tax liability	(3.7)
Other liabilities	(0.7)
Total Liabilities	(30.4)
Net Assets Acquired	62.1
Assets acquired net of cash	$ 60.9

Segments - Schedule of Results

Segments - Schedule of Results of Operations by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Total revenues	$ 406.5	$ 292.7	$ 738.2	$ 561.5
Interest expense	6.8	6	12.9	11.8
Depreciation and amortization	27.3	23.9	51.5	45.3
Net income (loss)	5.4	(15.8)	3.4	(21.5)
Income (loss) before taxes	6.6	(14.7)	5.4	(19.9)
Operating Segments | Material Handling Segment
Segment Reporting Information [Line Items]
Total revenues	135.5	111.6	261.1	218.4
Interest expense	2.6	2	4.9	4.2
Depreciation and amortization	6.1	4.6	11.4	9.2
Income (loss) before taxes	4.9	1.9	8.9	3.2
Operating Segments | Construction Equipment Segment
Segment Reporting Information [Line Items]
Total revenues	271	181.1	477.1	343.1
Interest expense	3.8	3.7	7.3	6.8
Depreciation and amortization	21.2	19.3	40.1	36.1
Income (loss) before taxes	6.3	(1.7)	4.2	(5)
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Interest expense	0.4	0.3	0.7	0.8
Income (loss) before taxes	(4.6)	(14.9)	(7.7)	(18.1)
New and Used Equipment Sales
Segment Reporting Information [Line Items]
Total revenues	217.3	132	368.9	255.8
New and Used Equipment Sales | Operating Segments | Material Handling Segment
Segment Reporting Information [Line Items]
Total revenues	72.1	60.1	139	117.5
New and Used Equipment Sales | Operating Segments | Construction Equipment Segment
Segment Reporting Information [Line Items]
Total revenues	145.2	71.9	229.9	138.3
Parts Sales
Segment Reporting Information [Line Items]
Total revenues	58.3	44.1	111.7	85.5
Parts Sales | Operating Segments | Material Handling Segment
Segment Reporting Information [Line Items]
Total revenues	20.1	15.7	39.3	30.9
Parts Sales | Operating Segments | Construction Equipment Segment
Segment Reporting Information [Line Items]
Total revenues	38.2	28.4	72.4	54.6
Service Revenue
Segment Reporting Information [Line Items]
Total revenues	51.7	42.4	99.9	81.1
Service Revenue | Operating Segments | Material Handling Segment
Segment Reporting Information [Line Items]
Total revenues	26.9	24.1	53.6	46.7
Service Revenue | Operating Segments | Construction Equipment Segment
Segment Reporting Information [Line Items]
Total revenues	24.8	18.3	46.3	34.4
Rental Revenue
Segment Reporting Information [Line Items]
Total revenues	43.6	38.2	81.3	71.3
Rental Revenue | Operating Segments | Material Handling Segment
Segment Reporting Information [Line Items]
Total revenues	14.2	11.4	27	22.5
Rental Revenue | Operating Segments | Construction Equipment Segment
Segment Reporting Information [Line Items]
Total revenues	29.4	26.8	54.3	48.8
Rental Equipment Sales
Segment Reporting Information [Line Items]
Total revenues	35.6	36	76.4	67.8
Rental Equipment Sales | Operating Segments | Material Handling Segment
Segment Reporting Information [Line Items]
Total revenues	2.2	0.3	2.2	0.8
Rental Equipment Sales | Operating Segments | Construction Equipment Segment
Segment Reporting Information [Line Items]
Total revenues	$ 33.4	$ 35.7	$ 74.2	$ 67

Segments - Additional Informati

Segments - Additional Information (Details)	6 Months Ended
	Jun. 30, 2022 Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segments - Summary of Identifie

Segments - Summary of Identified Assets by Reportable Segment (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 1,071.1	$ 982.6
Operating Segments | Material Handling Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	360	325.1
Operating Segments | Construction Equipment Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	705.3	655.8
Corporate, Non-Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 5.8	$ 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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Basic net income (loss) per share
Net income (loss)	$ 5.4	$ (15.8)	$ 3.4	$ (21.5)
Basic weighted average common shares outstanding	31,933,032	32,403,151	32,147,015	31,204,239
Basic net income (loss) per share of common stock	$ 0.17	$ (0.49)	$ 0.11	$ (0.69)
Diluted income (loss) per share
Net income (loss)	$ 5.4	$ (15.8)	$ 3.4	$ (21.5)
Basic weighted average common shares outstanding	31,933,032	32,403,151	32,147,015	31,204,239
Effect of dilutive securities:
Effect of dilutive non-vested restricted stock units	218,480	150,375	220,795	140,278
Diluted weighted average common shares outstanding	32,151,512	32,553,526	32,367,810	31,344,518
Diluted net income (loss) per share of common stock	$ 0.17	$ (0.49)	$ 0.11	$ (0.69)

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions				3 Months Ended		6 Months Ended
	Jul. 29, 2022	Jul. 06, 2022	May 31, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Subsequent Event [Line Items]
Common stock, par value				$ 0.0001		$ 0.0001		$ 0.0001
Total revenues				$ 406.5	$ 292.7	$ 738.2	$ 561.5
Enterprise value, net of cash acquired						$ 1.5	$ 2.6
Yale Industrial Trucks Inc.
Subsequent Event [Line Items]
Total revenues			$ 9.4
Subsequent Event
Subsequent Event [Line Items]
Common stock, par value		$ 0.0001
Common stock dividend		0.057
Common stock dividend on annualized basis		$ 0.23
Common stock dividend payable date		Aug. 31, 2022
Common stock dividend payable date of record		Aug. 15, 2022
Subsequent Event | Yale Industrial Trucks Inc.
Subsequent Event [Line Items]
Total revenues	$ 46.6
Enterprise value, net of cash acquired	33.5
Subsequent Event | Yale Industrial Trucks Inc. | Sixth Amended and Restated ABL First Lien Credit Agreement
Subsequent Event [Line Items]
Business combination stock acquired value	150
Business combination stock exercised value	80
Subsequent Event | Yale Industrial Trucks Inc. | Sixth Amended and Restated ABL First Lien Credit Agreement | Canadian-denominated Sublimit Facility
Subsequent Event [Line Items]
Maximum borrowing capacity	35
Subsequent Event | Yale Industrial Trucks Inc. | Sixth Amended and Restated ABL First Lien Credit Agreement | Revolving Floor Plan Facility
Subsequent Event [Line Items]
Maximum borrowing capacity	10
Subsequent Event | Maximum
Subsequent Event [Line Items]
Share repurchase program authorized aggregate purchase price		$ 12.5
Subsequent Event | Maximum | Yale Industrial Trucks Inc. | Sixth Amended and Restated ABL First Lien Credit Agreement
Subsequent Event [Line Items]
Maximum borrowing capacity	430
Subsequent Event | Maximum | Yale Industrial Trucks Inc. | Sixth Amended and Restated ABL First Lien Credit Agreement | Revolving Floor Plan Facility
Subsequent Event [Line Items]
Maximum borrowing capacity	60
Subsequent Event | Minimum | Yale Industrial Trucks Inc. | Sixth Amended and Restated ABL First Lien Credit Agreement
Subsequent Event [Line Items]
Maximum borrowing capacity	350
Subsequent Event | Minimum | Yale Industrial Trucks Inc. | Sixth Amended and Restated ABL First Lien Credit Agreement | Revolving Floor Plan Facility
Subsequent Event [Line Items]
Maximum borrowing capacity	$ 50