Mayville Engineering (MEC) 10-K 2 Mar 22 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 24, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Registrant Name	Mayville Engineering Company, Inc.
Entity Central Index Key	0001766368
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
ICFR Auditor Attestation Flag	false
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	MEC
Security Exchange Name	NYSE
Entity File Number	001-38894
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-0944729
Entity Address, Address Line One	715 South Street
Entity Address, City or Town	Mayville
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53050
City Area Code	920
Local Phone Number	387-4500
Document Annual Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		20,273,880
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Public Float			$ 395,649,389
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	Milwaukee, WI
Auditor Firm ID	34
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Part III of this report incorporates information by reference to the Registrant’s proxy statement for its 2022 annual meeting of shareholders, which proxy statement will be filed with the Securities and Exchange Commission no later than 120 days after the close of the year ended December 31, 2021.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 118	$ 121
Receivables, net of allowances for doubtful accounts of $631 as of December 31, 2021 and $1,298 as of December 31, 2020	55,417	42,080
Inventories, net	70,157	41,366
Tooling in progress	3,950	3,126
Prepaid expenses and other current assets	2,924	2,555
Total current assets	132,566	89,248
Property, plant and equipment, net	119,610	106,688
Assets held for sale		3,552
Goodwill	71,535	71,535
Intangible assets-net	50,761	61,467
Capital lease, net	1,136	2,581
Other long-term assets	3,865	3,462
Total	379,473	338,533
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable	50,119	33,495
Current portion of capital lease obligation	315	626
Accrued liabilities:
Salaries, wages, and payroll taxes	8,684	10,190
Profit sharing and bonus	5,289	3,089
Other current liabilities	12,965	5,340
Total current liabilities	77,372	52,740
Bank revolving credit notes	67,610	45,257
Capital lease obligation, less current maturities	892	2,061
Deferred compensation and long-term incentive, less current portion	25,117	25,631
Deferred income tax liability	8,641	11,887
Other long-term liabilities	1,570	100
Total liabilities	181,202	137,676
Commitments and contingencies (see Note 10)
Common shares, no par value, 75,000,000 authorized, 21,386,382 shares issued at December 31, 2021 and 21,093,035 at December 31, 2020
Additional paid-in-capital	197,186	190,793
Retained earnings	7,547	14,998
Treasury shares at cost, 1,050,448 shares at December 31, 2021 and 1,033,645 at December 31, 2020	(6,462)	(4,934)
Total shareholders’ equity	198,271	200,857
Total	$ 379,473	$ 338,533

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Receivables, net of allowances for doubtful accounts	$ 631	$ 1,298
Common Stock, No Par Value
Common Stock, Shares Authorized	75,000,000	75,000,000
Common Stock, Shares, Issued	21,386,382	21,093,035
Treasury stock at cost	1,050,448	1,033,645

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net sales	$ 454,826	$ 357,606	$ 519,704
Cost of sales	403,451	326,105	460,986
Amortization of intangibles	10,706	10,706	10,706
Profit sharing, bonuses, and deferred compensation	11,500	8,250	25,105
Employee stock ownership plan expense			5,453
Other selling, general and administrative expenses	20,409	19,043	25,466
Impairment of long-lived assets and loss on contracts	16,151
Contingent consideration revaluation			(6,054)
Loss from operations	(7,391)	(6,498)	(1,958)
Interest expense	(2,003)	(2,668)	(6,728)
Loss on extinguishment of debt			(154)
Loss before taxes	(9,394)	(9,166)	(8,840)
Income tax benefit	(1,943)	(2,074)	(4,088)
Net loss and comprehensive loss	$ (7,451)	$ (7,092)	$ (4,753)
Loss per share:
Basic	$ (0.37)	$ (0.36)	$ (0.27)
Diluted	$ (0.36)	$ (0.36)	$ (0.27)
Weighted average shares outstanding:
Basic	20,404,543	19,898,122	17,447,464
Diluted	20,830,977	19,898,122	17,447,464

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (7,451)	$ (7,092)	$ (4,753)
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation	21,077	21,383	22,296
Amortization	10,706	10,706	10,706
Allowance for doubtful accounts	(667)	772	284
Inventory excess and obsolescence reserve	(935)	80	(60)
Stock-based compensation expense	4,962	4,732	3,486
Costs recognized on step-up of acquired inventory			395
Contingent consideration revaluation			(6,054)
Loss (gain) on disposal of property, plant and equipment	(1,311)	667	(62)
Impairment of inventory and loss on contracts	700
Impairment of long-lived assets and loss on contracts	16,151
Deferred compensation and long-term incentive	(514)	682	11,598
Gain on extinguishment or forgiveness of debt			(367)
Non-cash adjustments	325	358	(237)
Changes in operating assets and liabilities – net of effects of acquisition:
Accounts receivable	(12,670)	(2,664)	11,853
Inventories	(27,896)	4,246	8,886
Tooling in progress	(824)	(1,537)	729
Prepaids and other current assets	(1,013)	500	(1,358)
Accounts payable	11,836	515	(11,010)
Deferred income taxes	(3,323)	(4,857)	(5,992)
Accrued liabilities, excluding long-term incentive	5,304	8,032	(6,938)
Net cash provided by operating activities	14,457	36,523	33,402
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment	(39,309)	(7,794)	(25,797)
Proceeds from sale of property, plant and equipment	5,348	2,020	76
Acquisitions, net of cash acquired			(2,369)
Net cash used in investing activities	(33,961)	(5,774)	(28,090)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from bank revolving credit notes	385,226	267,169	442,154
Payments on bank revolving credit notes	(362,873)	(294,484)	(429,211)
Repayments of other long-term debt	(268)		(120,046)
Deferred financing costs		(207)
Proceeds from IPO, net			101,763
Purchase of treasury stock	(2,153)	(2,509)	(2,591)
Payments on capital leases	(544)	(598)	(469)
Proceeds from the exercise of stock options	139
Other financing activities	(26)
Net cash provided by (used in) financing activities	19,501	(30,629)	(8,400)
Net increase (decrease) in cash and cash equivalents	(3)	120	(3,088)
Cash and cash equivalents, beginning of year	121	1	3,089
Cash and cash equivalents, end of year	118	121	1
Supplemental disclosure of cash flow information:
Cash paid for interest	2,122	3,011	6,629
Cash paid for taxes	1,548	744	544
Non-cash construction in progress in accounts payable	$ 6,347	$ 1,559	$ 2,809

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity - USD ($) $ in Thousands	Total	Additional Paid-in Capital [Member]	Treasury Shares [Member]	Retained Earnings [Member]
Beginning, Balance at Dec. 31, 2018
Net income (loss)	(4,753)
Transfer from temporary equity (see Note 17)	105,845	133,806	(57,659)	29,698
Share issuance – IPO	101,763	101,763
Cancellation of treasury stock		(55,369)	55,369
Share repurchases	(2,592)		(2,592)
Stock-based compensation	3,486	3,486
Net loss post IPO	(7,609)			(7,609)
Ending, Balance at Dec. 31, 2019	200,895	183,687	(4,882)	22,089
Net income (loss)	(7,092)			(7,092)
Share repurchases	(2,509)		(2,509)
ESOP contribution	4,831	2,374	2,457
Stock-based compensation	4,732	4,732
Ending, Balance at Dec. 31, 2020	200,857	190,793	(4,934)	14,998
Net income (loss)	(7,451)			(7,451)
Share repurchases	(2,153)		(2,153)
401(k) contribution	1,944	1,319	625
Stock options exercised	112	112
Stock-based compensation	4,962	4,962
Ending, Balance at Dec. 31, 2021	$ 198,271	$ 197,186	$ (6,462)	$ 7,547

Nature of business and summary

Nature of business and summary of significant accounting policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Nature of business and summary of significant accounting policies	Note 1. Nature of business and summary of significant accounting policies Mayville Engineering Company, Inc. and subsidiaries (MEC, the Company, we, our, us or similar terms) is a leading U.S.-based value-added manufacturing partner that provides a broad range of prototyping and tooling, production fabrication, coating, assembly and aftermarket components. Our customers operate in diverse end markets, including heavy- and medium-duty commercial vehicle, construction & access equipment, powersports, agriculture, military and other end markets. Founded in 1945 and headquartered in Mayville, Wisconsin, we are a leading Tier I U.S. supplier of highly engineered components to original equipment manufacturers (OEM) customers with leading positions in their respective markets. The Company operates 20 facilities, of which 19 are in operation, located in Arkansas, Michigan, Mississippi, Ohio, Pennsylvania, Virginia, and Wisconsin. Our engineering expertise and technical know-how allow us to add value through every product redevelopment cycle (generally every three to five years for our customers). In December 1985, the Company formed the Mayville Engineering Company, Inc. Employee Stock Ownership Plan (ESOP). The ESOP is a tax qualified retirement plan and is designed to invest primarily in the Company’s common stock which is held in a Trust. From January 2003 until the Company’s IPO in May 2019, the ESOP owned 100% of the Company’s outstanding shares of common stock which have been fully allocated to active or retired eligible employees. In connection with the IPO, the Company initially sold 6,250,000 shares of common stock into the public market, reducing ESOP ownership to approximately 67%. As of December 31, 2021, 48.0% of all outstanding shares were held by the ESOP or within the Company’s 401(k) plan. Basis of presentation and consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). They include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Cash and cash equivalents The Company considers all highly-liquid investments purchased with original maturities of 90 days or less to be cash and cash equivalents. Concentration of credit risk Financial instruments that potentially subject the Company to credit risk consist principally of bank balances above the Federal Deposit Insurance Corporation (FDIC) insurability limits of $250 per official custodian. The Company has not experienced any losses on these accounts and management believes the Company is not exposed to any significant credit risk on cash. Accounts receivable Accounts receivable are generally uncollateralized customer obligations due under normal trade terms requiring payment within 30 to 60 days from the invoice date. Management periodically reviews past due balances and established an allowance for doubtful accounts of approximately $631 and $1,298 as of December 31, 2021 and 2020, respectively, for probable uncollectible amounts based on its assessment of the current status of individual accounts. The estimated valuation allowance results in a charge to cost of sales and the accounts are written-off through a charge to the valuation allowance and a credit to accounts receivable after the Company has used all reasonable collection efforts. Inventories Inventories are stated at the lower of cost, determined on the first-in, first-out method (FIFO), and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Work-in-process and finished goods are valued at production cost consisting of material, labor and overhead. The Company maintains a reserve for obsolete and slow-moving inventory of approximately $2,265 and $3,199 as of December 31, 2021 and 2020, respectively, which is based upon the aging of current inventory as well as assumptions on future demand and market conditions. Tooling in progress The Company has agreements with its customers to provide production tooling which will be used to produce specific parts for its customers. The costs to design, engineer, and manufacture the tooling are charged to tooling in progress as incurred and based on when control of the tooling is promised under contract, is transferred to the customer either at a point in time or over a period of time is when revenue is recognized. The Company may also provide production tooling that is not sold to customers but is capitalized in property, plant and equipment. To the extent that estimated costs exceed expected reimbursement from the customer, the Company recognizes a loss. Tooling in progress was $3,950 and $3,126 as of December 31, 2021 and 2020, respectively. Property, plant and equipment Property, plant and equipment are stated at cost. Expenditures for additions and improvements are capitalized while replacements, maintenance and repairs which do not improve or extend the lives of the respective assets are expensed as incurred. Properties sold, or otherwise disposed of, are removed from the property accounts, with gains or losses on disposal credited or charged to the results of operations. Depreciation is provided over the estimated useful lives of the respective assets, using the straight-line depreciation method for financial reporting purposes and begins when the asset is placed into service. Depreciation expense for the twelve months ended December 31, 2021, 2020 and 2019 was $21,077, $21,383 and $22,296, respectively. Business combinations The Company accounts for all business combinations in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 805, “Business Combinations”. In connection with a business combination, the acquiring company must allocate the cost of the acquisition to assets acquired and liabilities assumed based on fair values as of the acquisition date. Any excess or shortage of amounts assigned to assets and liabilities over or under the purchase price is recorded as a gain on bargain purchase or goodwill. Transaction costs associated with acquisitions are expensed as incurred within selling, general and administrative expenses. Goodwill We test goodwill for impairment annually, or more frequently if triggering events occur indicating that there may be an impairment. We have recorded goodwill and perform testing for potential goodwill impairment at a reporting unit level. A reporting unit is an operating segment, or a business unit one level below an operating segment for which discrete financial information is available, and for which management regularly reviews the operating results. Additionally, components within an operating segment can be aggregated as a single reporting unit if they have similar economic characteristics. We have performed testing on our one reporting unit. We determine the fair value of our reporting units using an income approach. Under the income approach, we calculate the fair value of a reporting unit based on the present value of estimated future cash flows. The income approach is dependent on several key management assumptions, including estimates of future sales, gross margins, operating costs, interest expense, income tax rates, capital expenditures, changes in working capital requirements and the weighted average cost of capital or the discount rate. Discount rate assumptions include an assessment of the risk inherent in the future cash flows of the reporting unit. Expected cash flows used under the income approach are developed in conjunction with our budgeting and forecasting process. We test our goodwill for impairment on an annual basis in the fourth quarter of each fiscal year, and more frequently if events or changes in circumstances indicate that it might be impaired. Due to the economic conditions during the second quarter of 2020 as a result of the COVID-19 pandemic, we determined that an impairment triggering event occurred, which required an interim quantitative impairment assessment of goodwill. Based on our interim quantitative assessments, the fair value of our reporting unit exceeded our related carrying value by more than 50%, thus no impairment of goodwill was indicated. At December 31, 2021, the Company had goodwill with a carrying amount of $71,535. The fair value exceeded the carrying value for 2021. If the market valuation of our common shares or operating results of our reporting unit significantly decline beyond current levels, we may again need to conduct an evaluation of the fair value of our goodwill, which may result in an impairment change. Changes to management assumptions and estimates utilized in the income and market approaches could negatively impact the fair value conclusions for our reporting units resulting in goodwill impairment. All key assumptions and valuations are determined by and are the responsibility of management. The factors used in the impairment analysis are inherently subject to uncertainty. We believe that the estimates and assumptions are reasonable to determine the fair value of our reporting units, however, if actual results are not consistent with these estimates and assumptions, goodwill and other intangible assets may be overstated which could trigger an impairment charge. Fair Value of Financial Instruments Financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable and long-term debt. The carrying amount of all significant financial instruments approximates fair value due to either the short maturity or the existence of variable interest rates that approximate prevailing market rates. Cash and cash equivalents, accounts receivable and accounts payable are classified as Level 1 fair value inputs as further described in Note 15 – Fair Value of Financial Instruments. Long-term debt is classified as a Level 2 fair value input. Impairment of long-lived assets and loss on contracts When events or conditions warrant, the Company evaluates the recoverability of long-lived assets and considers whether these assets are impaired. The Company assesses the recoverability of these assets based on several factors, including management’s intention with respect to these assets and their projected undiscounted cash flows. If projected undiscounted cash flows are less than the carrying amount of the respective assets, the Company adjusts the carrying amounts of such assets to their estimated fair value. To the extent that the carrying value of the net assets of a reportable unit is greater than the estimated fair value, the Company may be required to record impairment charges. The Company records long-lived asset impairment charges as a reduction to property, plant and equipment and an increase in other current liabilities for loss contracts in the Consolidated Balance Sheets. Deferred financing costs Loan issuance costs and discounts are capitalized upon the issuance of long-term debt and amortized over the life of the related debt. Loan issuance costs associated with revolving debt arrangements are presented as a component of other assets. Loan issuance costs incurred in connection with revolving debt arrangements are amortized using the straight-line method over the life of the credit agreement. Loan issuance costs and discounts incurred in connection with term debt are amortized using the effective interest method. Amortization of deferred loan issuance costs and discounts are included in interest expense. During 2021, 2020 and 2019, the Company recorded $0, $207 and $142, respectively of deferred financing costs associated with its long-term debt and line of credit arrangements. Amortization expense associated with the deferred debt issuance costs and discounts in 2021, 2020 and 2019 was approximately $336, $358 and $381. Accumulated amortization was approximately $720, $616 and $474 as of December 31, 2021, 2020 and 2019, respectively. Amendments made to existing debt in 2021, 2020 and 2019 resulted in the write-offs of $0, $0 and $154, respectively of unamortized costs associated with the debt that was replaced. Revenue recognition The Company adopted ASC 606 January 1, 2019, where the Company recognizes revenue for the transfer of goods or services to a customer in an amount that reflects the consideration it expects to receive in exchange for those goods or services. There are many customers where the Company designs, engineers and builds production tooling, which is purchased by the customer. Most of the tooling revenue is complete at the point the customer signs off on the product through the Product Part Approval Process (PPAP) and the tool is placed into service. Revenue is recognized when control of the tooling promised under a contract is transferred to the customer either at a point in time or over a period of time in an amount that reflects the consideration to which the Company expects to be entitled in exchange for the goods or services. The Company offers certain customers discounts for early payments. These discounts are recorded against net sales in the consolidated statement of comprehensive income and accounts receivable in the Consolidated Balance Sheets. The Company does not offer any other customer incentives, rebates or allowances. Shipping and handling The Company expenses shipping and handling costs as incurred. These costs are generally comprised of salaries and wages, shipping supplies and warehouse costs. Inbound freight costs, which mostly relate to raw materials, are included in cost of sales on the Consolidated Statements of Comprehensive Loss. Outbound freight costs, which mostly relate to sales, are included in net sales on the Consolidated Statements of Comprehensive Loss. The Company does not charge customers nor recognize revenue for shipping and handling. The Company’s OEM customers arrange and pay the freight for delivery. Advertising The Company expenses the costs of advertising when incurred. Advertising expense was approximately $163, $100 and $110 for the twelve months ended December 31, 2021, 2020 and 2019, respectively. Advertising costs are charged to selling, general and administrative expenses. Income Taxes Income taxes and uncertain tax positions are accounted for in accordance with ASC 740, “Accounting for Income Taxes”. Deferred income taxes are provided for the differences between the bases of assets and liabilities for financial reporting and income tax purposes. The Company measures deferred tax assets and liabilities using enacted tax rates in effect for the years in which the differences are expected to reverse and recognizes the effect of a change in enacted rates in the period of enactment. Tax positions meeting the more-likely-than-not recognition threshold are measured pursuant to the guidance set forth in ASC 740. A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized. See Note 9 “Income Taxes” of these Notes to Consolidated Financial Statements for further discussion. Loss per share The Company computes basic loss per share by dividing net loss available to shareholders by the actual weighted average number of common shares outstanding for the reporting period. The dilutive impact to basic earnings per share considers the impact to earnings if all convertible securities were exercised or outstanding that do not have an antidilutive impact on earnings per share. Treasury Stock Treasury stock purchases are accounted for under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock. Subsequent reissuance of shares to the ESOP are recorded as a reduction to treasury stock and as ESOP expense in the Consolidated Statements of Comprehensive Loss. Recent Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update (ASU) 2016-02, Leases The new guidance provides a number of optional practical expedients in transition. The Company elected the "package of practical expedients", which allows it to not reassess under the new guidance its prior conclusions about lease identification, lease classification and initial direct costs. The Company did not elect the use-of-hindsight practical expedient. In addition, the new guidance provides accounting policy elections for an entity’s ongoing lessee accounting. The Company has elected to not separate lease and non-lease components for certain of its real estate leases. The Company has elected the short-term lease recognition exemption for all leases that qualify which means that it will not recognize right-of-use assets or lease liabilities for those leases with a term of 12 months or less. The most significant effects of adoption relate to the recognition of right-of-use assets and lease liabilities on the Company’s balance sheet for operating leases and providing new disclosures about the Company’s leasing activities. The Company currently estimates these operating lease liabilities as of January 1, 2022 will be approximately $40,000. The Company does not expect the new guidance to have a material impact on its results of operations. In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments In December 2019, the FASB issued ASU 2019-12, Income Taxes beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption is permitted. The Company is evaluating the potential impact of this guidance on the consolidated financial statements.

IPO

IPO	12 Months Ended
	Dec. 31, 2021
Initial Public Offering [Abstract]
IPO	Note 2. IPO The IPO of shares of the Company’s common stock was completed in May 2019. In connection with the offering, the Company initially sold 6,250,000 shares of common stock at $17 per share generating proceeds of $99,344, net of underwriting discounts and commissions. Additional shares were also sold under an option granted to the underwriters that same month, resulting in a sale of an additional 152,209 shares of common stock at $17 per share, generating additional proceeds of $2,419, net of underwriting discounts and commissions In conjunction with the IPO, the Company issued a stock dividend specific to pre-IPO shares, of approximately 1,334.34-for-1, resulting in the conversion of 10,075 shares in our Employee Stock Ownership Plan to 13,443,484 shares.

Select balance sheet data

Select balance sheet data	12 Months Ended
	Dec. 31, 2021
Select Balance Sheet Data [Abstract]
Select balance sheet data	Note 3. Select balance sheet data Inventory Inventories as of December 31, 2021 and December 31, 2020 consist of: December 31, 2021 December 31, 2020 Finished goods and purchased parts $ 41,041 $ 24,561 Raw materials 18,905 11,266 Work-in-process 10,211 5,539 Total $ 70,157 $ 41,366 During the fourth quarter of 2021, the Company recorded an inventory impairment of $700. Please refer to Note 24 – Subsequent Event for further discussion of the facts and circumstances that led to this impairment. Property, plant and equipment Property, plant and equipment as of December 31, 2021 and December 31, 2020 consist of: Useful Lives Years December 31, 2021 December 31, 2020 Land Indefinite $ 1,033 $ 1,033 Land improvements 15-39 3,169 3,169 Building and building improvements 15-39 56,243 55,172 Machinery, equipment and tooling 3-10 221,140 199,854 Vehicles 5 3,869 3,778 Office furniture and fixtures 3-7 17,960 16,242 Construction in progress N/A 15,443 3,931 Total property, plant and equipment, gross 318,857 283,179 Less accumulated depreciation 199,247 176,491 Total property, plant and equipment, net $ 119,610 $ 106,688 The Company completed the closure of its Greenwood, SC manufacturing facility during the third quarter of the prior year and sold the facility during the third quarter of the current year for $5,300 before commissions and fees, resulting in a gain on the sale of asset of $1,374, which is classified in cost of sales on the Condensed Consolidated Statements of Comprehensive Loss as of December 31, 2021 . The net amount of property, plant and equipment associated with the facility was $ 3,552 , which was classified in assets held for sale on the Consolidated Balance Sheets as of December 31, 2020. Additionally, the Company finalized an agreement to lease a new facility in Hazel Park, MI during the second quarter of the current year. As of December 31, 2021, the company invested $19,658 for the ramp-up of production, of which $6,654 is classified in construction in progress. During the fourth quarter of 2021, the Company recorded a long-lived asset impairment $12,875. Please refer to Note 24 – Subsequent Event for further discussion of the facts and circumstances that led to this impairment. Goodwill We test our goodwill for impairment on an annual basis in the fourth quarter of each fiscal year, and more frequently if events or changes in circumstances indicate that it might be impaired. Due to the economic conditions during the second quarter of 2020 as a result of the COVID-19 pandemic, we determined that an impairment triggering event occurred, which required an interim quantitative impairment assessment of goodwill. Based on our interim quantitative assessments, the fair value of our reporting unit exceeded our related carrying value by more than 50%, thus no impairment of goodwill was indicated. We also performed our annual qualitative goodwill impairment test during the fourth quarter of fiscal years 2021 and 2020, which did not indicate an impairment existed. At December 31, 2021, the Company had goodwill with a carrying amount of $71,535. The fair value exceeded the carrying value for 2021. The goodwill carrying amount did not change between December 31, 2020 and December 31, 2021. Intangible Assets The following is a listing of intangible assets, the useful lives in years (amortization period) and accumulated amortization as of December 31, 2021 and December 31, 2020: Useful Lives Years December 31, 2021 December 31, 2020 Amortizable intangible assets: Customer relationships and contracts 9-12 $ 78,340 $ 78,340 Trade name 10 14,780 14,780 Non-compete agreements 5 8,800 8,800 Patents 19 24 24 Accumulated amortization (54,994 ) (44,288 ) Total amortizable intangible assets, net 46,950 57,656 Non-amortizable brand name 3,811 3,811 Total intangible assets, net $ 50,761 $ 61,467 Non-amortizable brand name is tested annually for impairment. Changes in intangible assets between December 31, 2020 and December 31, 2021 consist of: Balance as of December 31, 2020 $ 61,467 Amortization expense (10,706 ) Balance as of December 31, 2021 $ 50,761 Amortization expense was $10,706, for each of the twelve months ended December 31, 2021, 2020 and 2019. Future amortization expense is expected to be as followed: Year ending December 31, 2022 $ 6,952 2023 $ 6,866 2024 $ 5,192 2025 $ 5,192 2026 $ 5,192 Thereafter $ 17,556

Bank revolving credit notes

Bank revolving credit notes	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Bank revolving credit notes	Note 4. Bank revolving credit notes On September 26, 2019, and as last amended as of March 31, 2021, we entered into an amended and restated credit agreement (Credit Agreement) with certain lenders and Wells Fargo Bank, National Association, as administrative agent (the Agent). The Credit Agreement provides for a $200,000 revolving credit facility (the Revolving Loan), with a letter of credit sub-facility in an aggregate amount not to exceed $5,000, and a swingline facility in an aggregate amount of $20,000. The Credit Agreement also provides for an additional $100,000 of capacity through an accordion feature. All amounts borrowed under the Credit Agreement mature on September 26, 2024. The Credit Agreement contains usual and customary negative covenants for agreements of this type, including, but not limited to, restrictions on our ability to, subject to certain exceptions, create, incur or assume indebtedness, create or incur liens, make certain investments, merge or consolidate with another entity, make certain asset dispositions, pay dividends or other distributions to shareholders, enter into transactions with affiliates, enter into sale leaseback transactions or make capital expenditures. The Credit Agreement also requires us to satisfy certain financial covenants, including a minimum interest coverage ratio of 3.00 to 1.00 as well as a consolidated total leverage ratio not to exceed 3.25 to 1.00, although such leverage ratio can be increased in connection with certain acquisitions. In order to provide a means of insurance against future macroeconomic events, we entered into an amendment (Second Amendment) to the Credit Agreement on June 30, 2020. The Second Amendment provided the Company with temporary changes to the total leverage ratio covenant for the period from June 30, 2020, through December 31, 2021, or such earlier date as the Company may elect (Covenant Relief Period), in return for certain increases in interest rates, fees and restrictions on certain activities of the Company, including capital expenditures, acquisitions, dividends and share repurchases. New pricing, which took effect for the quarters ending on and after September 30, 2020, includes interest at a fluctuating London Interbank Offered Rate (LIBOR) (at a floor of 75 basis points), plus 1.00% to 2.75%, along with the commitment fee ranging from 20 to 50 basis points. During the Covenant Relief Period, the required ceiling on the Company’s total leverage ratio was 4.25 to 1.00 for quarters ending June 30, 2020 through and including December 31, 2020, and declined in quarterly increments to 3.25 to 1.00 through the quarter ending December 31, 2021. We entered into an amendment (Third Amendment) to the Credit Agreement on March 31, 2021 which allowed the Company to incur up to $70,000 of capital expenditures in 2021, as opposed to $35,000. At December 31, 2021, our consolidated total leverage ratio was 2.43 to 1.00 as compared to a covenant maximum of 3.25 to 1.00 in accordance with the Second Amendment of the Credit Agreement. At December 31, 2021, our interest coverage ratio was 10.36 to 1.00 as compared to a covenant minimum of 3.00 to 1.00 under the Credit Agreement. Under the Credit Agreement, interest is payable quarterly at the adjusted LIBOR plus an applicable margin based on the current funded indebtedness to adjusted EBITDA ratio. The interest rate was 1.75% and 2.50% as of December 31, 2021 and December 31, 2020, respectively. Additionally, the agreement has a fee on the average daily unused portion of the aggregate unused revolving commitments. This fee was 0.20% as of December 31, 2021 and December 31, 2020. The Company was in compliance with all financial covenants of its credit agreements as of December 31, 2021 and December 31, 2020. The amount borrowed on the revolving credit notes was $67,610 and $45,257 as of December 31, 2021 and December 31, 2020, respectively.

Capital lease obligations

Capital lease obligations	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Capital lease obligations	Note 5. Capital lease obligations Capital leases consist of equipment with a capitalized cost of $2,170 and $3,825 and accumulated depreciation of $1,034 and $1,245 at December 31, 2021 and December 31, 2020, respectively. Depreciation of $565 and $644 was recognized on the capital lease assets during the twelve months ended December 31, 2021 and December 31, 2020, respectively. Non-cash capital lease transactions amounted to $0, $$0 and $1,776, for the twelve months ended December 31, 2021, 2020 and 2019, respectively. Future minimum lease payments required under the lease are as follows: Year ending December 31, 2022 $ 358 2023 358 2024 358 2025 225 Total 1,299 Less payment amount allocated to interest 92 Present value of capital lease obligations $ 1,207 Current portion of capital lease obligations 315 Long-term portion of capital lease obligations 892 Total capital lease obligations $ 1,207

Operating lease obligations

Operating lease obligations	12 Months Ended
	Dec. 31, 2021
Lessee Disclosure [Abstract]
Operating lease obligations	Note 6. Operating lease obligations Operating leases relate to property, plant and equipment. Future minimum lease payments required under the lease are as follows: Year ending December 31, 2022 $ 5,693 2023 5,699 2024 5,661 2025 4,832 2026 4,655 Thereafter 18,801 Total $ 45,341 The Company leases certain office space, warehousing facilities, equipment and vehicles under operating lease arrangements with third-party lessors. These lease arrangements expire at various times through August 2031. Total rent expense under the arrangements was approximately $5,282, $4,471 and $4,801 for the twelve months ended December 31, 2021, 2020, and 2019, respectively.

Employee stock ownership plan

Employee stock ownership plan	12 Months Ended
	Dec. 31, 2021
Employee Stock Ownership Plan E S O P Shares In E S O P [Abstract]
Employee stock ownership plan	Note 7. Employee stock ownership plan Under the ESOP, the Company can make annual discretionary contributions to the trust for the benefit of eligible employees in the form of cash or shares of common stock of the Company subject to the Board of Directors’ approval. Prior to December 31, 2019, the annual contribution was discretionary except that it must have been at least 3% of the compensation for all safe harbor participants for the plan year. Beginning on January 1, 2020, all contributions are discretionary. For the twelve months ended December 31, 2021, 2020 and 2019, the Company’s ESOP expense amounted to $0, $0 and $5,453, respectively. At various times following death, disability, retirement, termination of employment or the exercise of diversification rights, an ESOP participant is entitled to receive their ESOP account balance in accordance with various distribution methods as permitted under the policies adopted by the ESOP. Prior to the IPO, all distributions were paid to participants in cash. As of December 31, 2021, and December 31, 2020, the ESOP shares, excluding safe harbor shares held in the Company’s 401(k) plan, consisted of 7,292,392 and 8,253,533 in allocated shares, respectively. Prior to its IPO, the Company was obligated to repurchase shares in the trust that were not distributed to ESOP participants as determined by the ESOP trustees, and thus the shares were mandatorily redeemable. Subsequent to the IPO, shares are sold in the public market.

Retirement plans

Retirement plans	12 Months Ended
	Dec. 31, 2021
Compensation And Retirement Disclosure [Abstract]
Retirement Plans	Note 8. Retirement plans The Mayville Engineering Company, Inc. 401(k) Plan (the 401(k) Plan) covers substantially all employees meeting certain eligibility requirements. The 401(k) Plan is a defined contribution plan and is intended for eligible employees to defer tax-free contributions to save for retirement. Employees may contribute up to 50 % of their eligible compensation plan to the 401(k) Plan, subject to the limits of Section 401(k) of the Internal Revenue Code. The 401(k) Plan also provides for employer discretionary profit sharing contributions and the Board of Directors authorized discretionary profit sharing contributions of approximately $2,057, $1,833 and $0 for the twelve months ended December 31, 2021, 2020 and 2019, respectively, that are funded in the subsequent years.

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income taxes	Note 9. Income taxes Income taxes are included in the Consolidated Statements of Comprehensive Loss at December 31, 2021 and 2020 as below: December 31, 2021 December 31, 2020 Current income tax expense U.S Federal $ 100 $ 129 State 1,203 98 Total 1,303 227 Deferred income tax expense (benefit) U.S Federal (2,790 ) (2,457 ) State (456 ) 156 Total (3,246 ) (2,301 ) Total income tax benefit $ (1,943 ) $ (2,074 ) A reconciliation of the statutory federal income tax benefit to the income tax benefit from continuing operations provided at December 31, 2021 and 2020, is as follows: December 31, 2021 December 31, 2020 Income tax benefit at the federal statutory rate - 21% $ (1,971 ) $ (1,925 ) State and local income taxes - net of federal income tax benefits 523 79 Compensation deduction limitation - section 162(m) adjustment 14 (113 ) Income taxed by shareholder before IPO — (387 ) Other - perms 29 51 Tax credits generated (301 ) (409 ) Uncertain tax positions - current year 75 106 Uncertain tax positions - prior year — 115 Loan fee amortization — 698 Stock compensation (546 ) 764 Section 481(a) adjustments — (184 ) Fixed assets — (452 ) Return to provision 140 (121 ) Other miscellaneous tax 94 (296 ) Total income tax benefit $ (1,943 ) $ (2,074 ) Effective tax rate 26.5 % 22.6 % The tax effects of temporary differences that give rise to significant portions of the deferred income tax assets and liabilities are presented below: December 31, 2021 December 31, 2020 Deferred tax assets: Deferred compensation $ 8,349 $ 8,295 Inventory adjustments 1,694 1,506 Accrued expenses 1,530 409 Credits 656 508 Net operating loss 4,080 2,626 Other 240 338 Total deferred tax assets 16,549 13,682 Deferred tax liabilities: Property, plant and equipment 11,612 9,485 Intangibles 13,556 15,773 Other 22 311 Total deferred tax liabilities 25,190 25,569 Valuation allowance — — Net deferred tax liability $ (8,641 ) $ (11,887 ) Consolidated federal net operating loss carryforwards are $18,466 and do not expire. In addition, the Company has consolidated and separate company net operating loss carryforwards of $4,386 in various states. Uncertain Tax Positions Based on an evaluation of its tax positions, the Company recorded an unrecognized tax benefit related to research and development tax credits in its financial statements as of December 31, 2021 and December 31, 2020. The Company does not anticipate that there will be a material change in the balance of the unrecognized tax benefits in the next twelve months. Any interest and penalties related to uncertain tax positions are recorded in income tax expense. No amounts have been recorded as tax expense for interest and penalties for the year ended December 31, 2021 as the amount for the utilized portion of the research and development credit on the Wisconsin return is considered to be immaterial. At December 31, 2021, a total of $314 of unrecognized tax benefits would, if recognized, impact the company's effective tax rate. The Company files income tax returns in the United States federal jurisdiction and in various state and local jurisdictions. Federal tax returns for tax years beginning January 1, 2018, and state tax returns beginning January 1, 2017, are open for examination. Details of Unrecognized Tax Benefits The following is a reconciliation of beginning and ending amounts of unrecognized tax benefits: Balance as of December 31, 2020 $ 221 Increase from current year tax positions 100 Decrease from prior year tax positions (7 ) Decrease from settlements with tax authority — Decrease from expiration of statute of limitations — Balance as of December 31, 2021 $ 314

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Contingencies	Note 10. Contingencies From time to time, the Company may be involved in various claims and lawsuits, both for and against the Company, arising in the normal course of business. Although the results of litigation and claims cannot be predicted with certainty, in management’s opinion, either the likelihood of loss is remote, or any reasonably possible loss associated with the resolution of such proceedings is not expected to have a material adverse impact on the consolidated financial statements.

Deferred compensation

Deferred compensation	12 Months Ended
	Dec. 31, 2021
Deferred Compensation Liability [Abstract]
Deferred compensation	Note 11. Deferred compensation The Mayville Engineering Deferred Compensation Plan is available for certain employees designated to be eligible to participate by the Company and approved by the Board of Directors. Eligible employees may elect to defer a portion of his or her compensation for any plan year and the deferral cannot exceed 50% of the participant’s base salary and may include the participant’s annual short-term cash incentive up to 100%. The participant’s election must be made prior to the first day of the plan year. An employer contribution will be made for each participant to reflect the amount of any reduced allocations to the ESOP and/or 401(k) employer contributions due solely to the participant’s deferral amounts, as applicable. In addition, a discretionary amount may be awarded to a participant by the Company. Prior to the IPO, all deferrals were deemed to have been invested in the Company’s common stock at a price equal to the share value on the date of deferral and the value of the account increased or decreased with the change in the value of the stock. Individual accounts are maintained for each participant. Each participant’s account is credited with the participant’s deferred compensation and investment income or loss, reduced for charges, if any. For the period subsequent to the IPO, deferrals are assumed to be invested in an investment vehicle based on the options made available to the participant (which does not include Company stock). The deferred compensation plan provides benefits payable upon separation of service or death. Payments are to be made 30 days after date of separation from service, either in a lump-sum payment or up to five annual installments as elected by the participant when the participant first elects to defer compensation. The deferred compensation plan is non-funded, and all future contributions are unsecured in that the employees have the status of a general unsecured creditor of the Company and the agreements constitute a promise by the Company to make benefit payments in the future. During the twelve months ended December 31, 2021, 2020 and 2019, eligible employees elected to defer compensation of $0, $,63 and $1,296, respectively. As of December 31, 2021, and December 31, 2020, the total amount accrued for all benefit years under this plan was $25,117 and $25,631, respectively, which is included within the deferred compensation and long-term incentive on the Consolidated Balance Sheets. These amounts include the initial deferral of compensation as adjusted for (a) subsequent changes in the share value of the Company stock pursuant to the IPO or (b) following the IPO in the investment options chosen by the participants. Total expense for the deferred compensation plan for the twelve months ended December 31, 2021, 2020 and 2019 amounted to $812, $725 and $10,476, respectively. These expenses are included in profit sharing, bonuses and deferred compensation on the Consolidated Statements of Comprehensive Loss.

Long-Term incentive plan

Long-Term incentive plan	12 Months Ended
	Dec. 31, 2021
Share Based Compensation [Abstract]
Long-Term incentive plan	Note 12. Long-Term incentive plan Prior to the IPO, the Company’s long-term incentive plan (LTIP) was available for any employee who had been designated to be eligible to participate by the Compensation Committee of the Board of Directors. Annually, the LTIP provided for long-term cash incentive awards to eligible participants based on the Company’s performance over a three-year performance period. The LTIP was non-funded and each participant in the plan was considered a general unsecured creditor of the Company and each agreement constituted a promise by the Company to make benefit payments if the future conditions were met, or if discretion is exercised in favor of a benefit payment. The qualifying conditions for each award granted under the plan included a minimum increase in the aggregate fair value of the Company of 12% during the three-year If a participant was not employed throughout the performance period due to retirement, death or disability, their maximum benefit was prorated based on the number of days employed by the Company during the performance periods. The LTIP was terminated in May 2019 in conjunction with the IPO. Total expense for the long-term incentive plan for the twelve months ended December 31, 2021, 2020 and 2019 amounted to $0, $0 and $10,000, respectively. These expenses are included in profit sharing, bonuses and deferred compensation on the Consolidated Statements of Comprehensive Loss.

Self-Funded insurance

Self-Funded insurance	12 Months Ended
	Dec. 31, 2021
Insurance [Abstract]
Self-Funded insurance	Note 13. Self-Funded insurance The Company is self-funded for the medical benefits provided to its employees and their dependents. Healthcare costs are expensed as incurred and are based upon actual claims paid, reinsurance premiums, administration fees, and estimated unpaid claims. As of March 31, 2020, the Company consolidated its benefit plans and now has no specific stop loss limitation but has an aggregate stop loss limit to mitigate risk. Expense related to this contract was approximately

Segments

Segments	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segments	Note 14. Segments The Company applies the provisions of ASC Topic 280, Segment Reporting

Fair value of financial instrum

Fair value of financial instruments	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair value of financial instruments	Note 15. Fair value of financial instruments Fair value provides information on what the Company may realize if certain assets were sold or might pay to transfer certain liabilities based upon an exit price. Financial assets and liabilities that are measured and reported at fair value are classified into a three-level hierarchy that prioritizes the inputs used in the valuation process. A financial instrument’s categorization within the valuation hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The hierarchy is based on the observability and objectivity of the pricing inputs, as follows: • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Significant directly observable data (other than Level 1 quoted prices) or significant indirectly observable data through corroboration with observable market data. Inputs would normally be (i) quoted prices in active markets for similar assets or liabilities, (ii) quoted prices in inactive markets for identical or similar assets or liabilities or (iii) information derived from or corroborated by observable market data. Long term debt is classified as a Level 2 fair value input. • Level 3 – Prices or valuation techniques that require significant unobservable data inputs. These inputs would normally be the Company’s own data and judgements about assumptions that market participants would use in pricing the asset or liability. The following table lists the Company’s financial assets and liabilities accounted for at fair value by the fair value hierarchy: Fair Value Measurements at Report Date Using Balance at December 31, 2021 (Level 1) (Level 2) (Level 3) Deferred compensation liability $ 25,117 $ 22,272 $ 2,845 $ — Total $ 25,117 $ 22,272 $ 2,845 $ — Fair Value Measurements at Report Date Using Balance at December 31, 2020 (Level 1) (Level 2) (Level 3) Deferred compensation liability $ 25,631 $ 4,865 $ 20,766 $ — Total $ 25,631 $ 4,865 $ 20,766 $ — Fair value measurements for the Company’s cash and cash equivalents are classified based upon Level 1 measurements because such measurements are based upon quoted market prices in active markets for identical assets. Accounts receivable, accounts payable, long-term debt and accrued liabilities are recorded in the financial statements at cost and approximate fair value. Deferred compensation liabilities are recorded at amounts due to participants at the time of deferral. Deferrals are invested in an investment vehicle based on the options made available to the participant, considered to be Level 1 and Level 2 on the fair value hierarchy, with the majority of the balance as Level 1. The change in fair value is recorded in the profit sharing, bonuses, and deferred compensation line item on the Consolidated Statements of Comprehensive Loss. The balance due to participants is reflected on the deferred compensation and long-term incentive line item on the Consolidated Balance Sheets. The Company’s non-financial assets such as intangible assets and property, plant, and equipment are re-measured at fair value when there is an indication of impairment and adjusted only when an impairment charge is recognized.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2021
Revenue From Contract With Customer [Abstract]
Revenue Recognition	Note 16. Revenue recognition Contract Assets and Contract Liabilities The Company has contract assets and contract liabilities, which are included in other current assets and other current liabilities on the Consolidated Balance Sheet, respectively. Contract assets include products where the Company has satisfied its performance obligation, but receipt of payment is contingent upon delivery. Contract liabilities include deferred tooling revenue, where the performance obligation was not met. The performance obligation is satisfied when the tooling is completed and the customer signs off through the PPAP. Cost of goods sold is recognized and released from the balance sheet when control of the tooling promised under contract is transferred to the customer either at a point in time or over a period of time. The Company’s contracts with customers are short-term in nature; therefore, revenue is typically recognized, billed and collected within a 12-month period. The following table reflects the changes in our contract assets and liabilities during the twelve months ended December 31, 2021. Contract Assets Contract Liabilities As of December 31, 2020 $ 3,126 $ 1,060 Net activity 824 1,658 As of December 31, 2021 $ 3,950 $ 2,718 Disaggregated Revenue The following table represents a disaggregation of revenue by product category: Twelve Months Ended December 31, 2021 2020 2019 Outdoor sports $ 10,039 $ 7,225 $ 7,181 Fabrication 295,988 227,476 334,340 Performance structures 73,207 60,597 71,881 Tube 58,749 49,868 71,108 Tank 25,816 19,431 40,033 Total 463,799 364,597 524,544 Intercompany sales elimination (8,973 ) (6,991 ) (4,839 ) Total, net sales $ 454,826 $ 357,606 $ 519,704

Temporary equity

Temporary equity	12 Months Ended
	Dec. 31, 2021
Temporary Equity [Abstract]
Temporary equity	Note 17. Temporary Equity Prior to our IPO in May 2019, our common stock was considered redeemable under GAAP because of certain repurchase obligations related to the ESOP. As a result, all common shares were recorded as temporary equity (redeemable common shares) on the Consolidated Balance Sheets at their redemption value as of the respective balance sheet dates. All contractual redemption features were removed at the time of the IPO. As a consequence, all outstanding shares of common stock ceased to be considered temporary equity and were reclassified to Shareholders’ Equity, including the associated balances of retained earnings. As the common shares have no par value, the amounts recorded in temporary equity for the share redemption value were recorded to additional paid-in capital within Shareholders’ Equity upon the transfer. The following table shows all changes to temporary equity during the period of January 1, 2019 through the IPO of May 9, 2019. Temporary Equity Redeemable Common Shares Treasury Shares Retained Earnings Balance as of December 31, 2018 $ 133,806 $ (57,659 ) $ 26,842 Net income pre-IPO — — 2,856 Transfer from temporary equity to common equity (133,806 ) 57,659 (29,698 ) Balance as of December 31, 2019 $ — $ — $ —

Common equity

Common equity	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Common equity	Note 18. Common equity On May 13, 2019, the Company issued a stock dividend specific to pre-IPO shares, of approximately 1,334.34-for-1. The share dividend was accounted for as a 1,334.34-for-1 stock split and is retroactively reflected in these consolidated financial statements. All share redemption provisions were removed effective with the IPO. As disclosed in Note 2 – IPO, the Company’s IPO of common stock was effective in May 2019. In connection with the offering, the Company sold a total of 6,402,209 additional shares of common stock. On June 28, 2019, the Company cancelled 24,180,421 shares of common stock held in the Company’s treasury and returned those shares to the status of authorized but unissued shares of common stock. At December 31, 2021, the authorized stock of the Company consisted of 75,000,000 shares of common stock without par value. Changes in outstanding common shares are summarized as follows: 2021 2020 2019 Beginning balance 20,059,390 19,632,211 13,443,484 IPO with Greenshoe option — — 6,402,209 Treasury stock purchases (147,785 ) (320,245 ) (213,482 ) Common stock issued (including share-based compensation impact) 424,329 747,424 — Ending balance 20,335,934 20,059,390 19,632,211

Earnings per share

Earnings per share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Earnings per share	Note 19. Earnings per share The company computes earnings per share in accordance with ASC Topic , Earnings per Share Options in the money that were not included in the computation of diluted earnings per share because they would have had antidilutive impact on earnings per share were as follows: Twelve Months Ended December 31, 2021 2020 2019 Stock options 300,510 600,530 —

Concentration of major customer

Concentration of major customers	12 Months Ended
	Dec. 31, 2021
Risks And Uncertainties [Abstract]
Concentration of major customers	Note 20. Concentration of major customers The following customers accounted for 10% or greater of the Company’s recorded net sales and net trade receivables: Net Sales Accounts Receivable Twelve Months Ended December 31, As of As of 2021 2020 2019 December 31, 2021 December 31, 2020 Customer A 16.6 % 15.3 % 15.1 % 10.2 % 11.3 % B 10.8 % 11.1 % 13.5 % <10 % <10 % C 10.0 % 12.5 % <10 % <10 % 12.2 % D 14.1 % 11.6 % 13.1 % <10 % <10 % E <10 % <10 % <10 % 11.2 % <10 %

Stock based compensation

Stock based compensation	12 Months Ended
	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock based compensation	Note 21. Stock-based compensation The Mayville Engineering Company, Inc. 2019 Omnibus Incentive Plan provided the Company the ability to grant monetary payments based on the value of its common stock, up to two million shares. On April 20, 2021, shareholders of the Company approved an amendment to the 2019 Omnibus Incentive Plan increasing the number of shares of common stock authorized for issuance by 2,500,000 shares. The Company recognizes stock-based compensation using the fair value provisions prescribed by ASC Topic 718, Compensation – Stock Compensation Cancellations and forfeitures are accounted for as incurred. Stock awards were granted on June 3, 2021, May 12, 2021, February 28, 2021, May 12, 2020, February 27, 2020, and May 8, 2019. There were no stock awards granted prior to this. The Company’s stock-based compensation expense by award type is summarized as follows: Twelve Months Ended December 31, 2021 2020 2019 IPO unit awards $ — $ 1,029 $ 1,871 Unit awards 3,006 2,305 1,080 Option awards 1,956 1,398 536 Stock based compensation expense, net of tax $ 4,962 $ 4,732 $ 3,487 One-time IPO unit awards were fully expensed as of December 31, 2020. A rollforward of unrecognized stock-based compensation expense is displayed in the table below. Unrecognized stock-based compensation expense as of December 31, 2021 will be expensed over the remaining requisite service period from which individual award values relate, up to February 28, 2023. Units Options Total Balance as of December 31, 2018 $ — $ — $ — Grants 5,634 1,748 7,382 Forfeitures (88 ) (88 ) (176 ) Expense (2,951 ) (536 ) (3,487 ) Balance as of December 31, 2019 2,595 1,124 3,719 Grants 3,022 2,041 5,063 Forfeitures (738 ) (335 ) (1,073 ) Expense (3,334 ) (1,398 ) (4,732 ) Balance as of December 31 2020 1,545 1,432 2,977 Grants 3,456 2,130 5,586 Forfeitures (319 ) (69 ) (388 ) Expense (3,006 ) (1,956 ) (4,962 ) Balance as of December 31, 2021 $ 1,676 $ 1,537 $ 3,213 Units A summary of the Company’s unit award activity is as follows: For the Year Ended December 31, 2021 2020 Number of Units Weighted-Average Grant Date Fair Value Number of Units Weighted-Average Grant Date Fair Value Nonvested, beginning of year 456,257 $ 7.69 326,288 $ 17.00 Grants 233,963 $ 14.54 457,369 $ 6.61 Forfeitures (20,412 ) $ 13.03 (62,409 ) $ 8.90 Vested (314,902 ) $ 8.04 (264,991 ) $ 17.00 Nonvested, end of year 354,906 $ 11.59 456,257 $ 7.69 Stock Options A summary of the Company’s stock option award activity is as follows: For the Year Ended December 31, 2021 2020 Number of Options Weighted-Average Exercise Price Number of Options Weighted-Average Exercise Price Nonvested, beginning of year 718,528 $ 8.74 273,479 $ 17.00 Grants 307,365 $ 14.01 718,489 $ 7.12 Forfeitures (14,337 ) $ 10.41 (148,026 ) $ 9.13 Vested (484,661 ) $ 9.68 (125,414 ) $ 17.00 Nonvested, end of year 526,895 $ 10.91 718,528 $ 8.74 As of December 31, 2021, there were 250,505 and 344,282 options issued and outstanding at exercise prices of $17.00 and $7.12 per share, respectively, with a remaining weighted average contractual life of 7.93 years. The intrinsic values of these outstanding options was zero and $7.79, respectively, based on the Company’s stock price as of December 31, 2021. The Company uses the Black-Scholes valuation model to estimate the fair value of stock options which were $6.93 and $2.84 for those options granted during the years ended December 31, 2021 and 2020, respectively. The Company utilized the following assumptions in determining these fair values: Inputs Assumptions 2021 2020 Stock price at date of grant/exercise price $ 14.01 $ 7.12 Expected term (in years) 5.75 5.75 Estimated volatility 53.9 % 41.2 % Estimated risk-free rate of return 0.8 % 1.2 % Expected dividend yield 0.0 % 0.0 % The Company does not have historical option exercise data to estimate the expected term. For options granted, the Company utilizes the simplified method prescribed by Staff Accounting Bulletin (SAB) Topic 14

Greenwood Facility Closure and

Greenwood Facility Closure and Restructuring	12 Months Ended
	Dec. 31, 2021
Restructuring And Related Activities [Abstract]
Greenwood Facility Closure and Restructuring	Note 22. Greenwood facility closure and restructuring Based on the Company’s investments in new technology and automation, which have resulted in a smaller footprint requirement to maintain manufacturing capacity, the Company announced it would be closing its Greenwood, SC facility on May 6, 2020. The facility closure was finalized during the third quarter of 2020 with all customer components re-distributed amongst five other MEC manufacturing facilities. All customer relationships and manufactured components were maintained through this transition without disruption to our customers. On July 1, 2021, the Company entered into a contract to sell the Greenwood, SC facility for $ 5,300 before commissions and fees. Settlement of the contract occurred on August 30, 2021, resulting in a gain on the sale of the asset of $ 1,374 , which is classified in cost of sales on the Condensed Consolidated Statements of Comprehensive Loss for the twelve months ended December 31, 2021. Costs associated with the closure were accounted for in accordance with ASC 420 Exit or Disposal Cost Obligations For the twelve months ended December 31, 2021, the Company incurred $0 costs associated with the facility closure and restructuring. For the twelve months ended December 31, 2020, the Company incurred $2,524 of costs associated with the facility closure and restructuring, including $282 for severance and retention bonus, $931 for the loss on sale of manufacturing equipment not transferred to another MEC facility, $78 for the buyout of operating leases, $622 for the disposition of inventory, and the remainder mostly related to costs to close the facility and relocate equipment to other facilities. These costs were recognized on the cost of sales line item of the Condensed Consolidated Statements of Comprehensive Loss. The Greenwood facility had a net book value of approximately $3,552 as of December 31, 2020 and was classified as assets held for sale on the Consolidated Balance Sheet. The following table summarizes the activity related to the Greenwood restructuring through December 31, 2020: Employee Severance and Retention Bonus Reserve Inventory Excess and Obsolescence Reserve Other Reserves Total Reserves Balance as of December 31, 2019 $ — $ — $ — $ — Charges 282 622 1,620 2,524 Cash receipts (payments) (282 ) 16 (1,620 ) (1,886 ) Accrual adjustments — (638 ) — (638 ) Balance as of December 31, 2020 $ — $ — $ — $ — As a result of the Greenwood facility closure, future earnings and cash flows were not impacted by the depreciation associated with the assets disposed of or the facility, maintenance costs of the facility, and facility personnel expenses. Assets disposed of had a net book value of $2,475 with a remaining useful life of approximately 3 years resulting in approximately $825 of annual depreciation expense that is no longer incurred. The facility had a net book value of $3,552 as of August 30, 2021 with a remaining weighted average useful life of approximately 27 years resulting in approximately $133 of annual depreciation expense that is no longer be incurred. Additionally, the Company no longer has approximately $800 of annual facility maintenance costs, including utilities, that are no longer incurred. Total personnel costs associated with the facility were approximately $2,250 for the first quarter 2020 resulting in approximately $9,000 of annual personnel expenses; the majority of these costs were transitioned to five other MEC facilities that are now manufacturing these components. As previously mentioned, all customer relationships and manufacturing programs were retained through the transition. The aforementioned depreciation, maintenance costs, and personnel expenses associated with the Greenwood facility have been classified as cost of sales on the Condensed Consolidated Statements of Comprehensive Loss.

Valuation and qualifying accoun

Valuation and qualifying accounts	12 Months Ended
	Dec. 31, 2021
Valuation And Qualifying Accounts [Abstract]
Valuation and qualifying accounts	Note 23. Valuation and qualifying accounts Description Balance at beginning of period Additions Deductions Balance at end of period Year ended December 31, 2021 Allowance for doubtful accounts $ 1,298 $ 751 $ 1,418 $ 631 Year ended December 31, 2020 Allowance for doubtful accounts $ 526 $ 1,582 $ 810 $ 1,298

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent events	Note 24 Subsequent events The Company evaluated events and transactions for potential recognition or disclosure in the consolidated financial statements through March 2, 2022, the date on which the consolidated financial statements were available to be issued. In March 2021, the Company signed a contract with a new customer in the fitness market. As a result, the Company entered into a lease for the new facility in Hazel Park, MI, and specifically purchased assets to meet obligations under the agreement with the fitness customer. On February 18, 2022 , the new customer in the fitness market informed the Company that it does not forecast any demand for any products or par t s that are subject of the agreement between the Company and the customer during the remaining four - year term of that agreement . Additionally, fixed amounts owed, commencing in January 2022, included within the customer contract are expected to be reserved in full within allowance for doubtful accounts . At December 31, 2021, there was uncertainty as to the level of demand from the new fitness customer, but it was determined that future cash flows would support the recovery of assets purchased and assets the Company committed to purchase to support the launch of the new customer. The notification on February 18, 2022, resulted in a change in forecasted future cash flow, which triggered an impairment assessment of those assets purchased, and assets the Company committed to purchase, to meet obligations under the agreement with the new fitness customer. The result of the impairment assessment indicated the fair value of assets within the impacted asset groups were less than carrying value, and, accordingly, a non-cash impairment should be recorded. As of December 31, 2021, the Company recorded an impairment of long-lived assets of $16,151, which is comprised of a decrease in property, plant and equipment of $12,875, and an increase in other current liabilities of $3,276 due to non-cancellable commitments to purchase property, plant and equipment related to loss contracts. Additionally, the Company recorded an increase in cost of sales of $700, of which $661 was due to loss contacts recorded in other current liabilities and a $39 decrease to inventories. This transaction resulted in a net tax benefit of $3,963.

Nature of business and summar_2

Nature of business and summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of presentation and consolidation	Basis of presentation and consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). They include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of estimates	Use of estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
Cash and cash equivalents	Cash and cash equivalents The Company considers all highly-liquid investments purchased with original maturities of 90 days or less to be cash and cash equivalents.
Concentration of credit risk	Concentration of credit risk Financial instruments that potentially subject the Company to credit risk consist principally of bank balances above the Federal Deposit Insurance Corporation (FDIC) insurability limits of $250 per official custodian. The Company has not experienced any losses on these accounts and management believes the Company is not exposed to any significant credit risk on cash.
Accounts receivable	Accounts receivable Accounts receivable are generally uncollateralized customer obligations due under normal trade terms requiring payment within 30 to 60 days from the invoice date. Management periodically reviews past due balances and established an allowance for doubtful accounts of approximately $631 and $1,298 as of December 31, 2021 and 2020, respectively, for probable uncollectible amounts based on its assessment of the current status of individual accounts. The estimated valuation allowance results in a charge to cost of sales and the accounts are written-off through a charge to the valuation allowance and a credit to accounts receivable after the Company has used all reasonable collection efforts.
Inventories	Inventories Inventories are stated at the lower of cost, determined on the first-in, first-out method (FIFO), and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Work-in-process and finished goods are valued at production cost consisting of material, labor and overhead. The Company maintains a reserve for obsolete and slow-moving inventory of approximately $2,265 and $3,199 as of December 31, 2021 and 2020, respectively, which is based upon the aging of current inventory as well as assumptions on future demand and market conditions.
Tooling in progress	Tooling in progress The Company has agreements with its customers to provide production tooling which will be used to produce specific parts for its customers. The costs to design, engineer, and manufacture the tooling are charged to tooling in progress as incurred and based on when control of the tooling is promised under contract, is transferred to the customer either at a point in time or over a period of time is when revenue is recognized. The Company may also provide production tooling that is not sold to customers but is capitalized in property, plant and equipment. To the extent that estimated costs exceed expected reimbursement from the customer, the Company recognizes a loss. Tooling in progress was $3,950 and $3,126 as of December 31, 2021 and 2020, respectively.
Property, plant and equipment	Property, plant and equipment
Business combinations	Business combinations The Company accounts for all business combinations in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 805, “Business Combinations”. In connection with a business combination, the acquiring company must allocate the cost of the acquisition to assets acquired and liabilities assumed based on fair values as of the acquisition date. Any excess or shortage of amounts assigned to assets and liabilities over or under the purchase price is recorded as a gain on bargain purchase or goodwill. Transaction costs associated with acquisitions are expensed as incurred within selling, general and administrative expenses.
Goodwill	Goodwill We test goodwill for impairment annually, or more frequently if triggering events occur indicating that there may be an impairment. We have recorded goodwill and perform testing for potential goodwill impairment at a reporting unit level. A reporting unit is an operating segment, or a business unit one level below an operating segment for which discrete financial information is available, and for which management regularly reviews the operating results. Additionally, components within an operating segment can be aggregated as a single reporting unit if they have similar economic characteristics. We have performed testing on our one reporting unit. We determine the fair value of our reporting units using an income approach. Under the income approach, we calculate the fair value of a reporting unit based on the present value of estimated future cash flows. The income approach is dependent on several key management assumptions, including estimates of future sales, gross margins, operating costs, interest expense, income tax rates, capital expenditures, changes in working capital requirements and the weighted average cost of capital or the discount rate. Discount rate assumptions include an assessment of the risk inherent in the future cash flows of the reporting unit. Expected cash flows used under the income approach are developed in conjunction with our budgeting and forecasting process. We test our goodwill for impairment on an annual basis in the fourth quarter of each fiscal year, and more frequently if events or changes in circumstances indicate that it might be impaired. Due to the economic conditions during the second quarter of 2020 as a result of the COVID-19 pandemic, we determined that an impairment triggering event occurred, which required an interim quantitative impairment assessment of goodwill. Based on our interim quantitative assessments, the fair value of our reporting unit exceeded our related carrying value by more than 50%, thus no impairment of goodwill was indicated. At December 31, 2021, the Company had goodwill with a carrying amount of $71,535. The fair value exceeded the carrying value for 2021. If the market valuation of our common shares or operating results of our reporting unit significantly decline beyond current levels, we may again need to conduct an evaluation of the fair value of our goodwill, which may result in an impairment change. Changes to management assumptions and estimates utilized in the income and market approaches could negatively impact the fair value conclusions for our reporting units resulting in goodwill impairment. All key assumptions and valuations are determined by and are the responsibility of management. The factors used in the impairment analysis are inherently subject to uncertainty. We believe that the estimates and assumptions are reasonable to determine the fair value of our reporting units, however, if actual results are not consistent with these estimates and assumptions, goodwill and other intangible assets may be overstated which could trigger an impairment charge.
Fair value of financial instruments	Fair Value of Financial Instruments Financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable and long-term debt. The carrying amount of all significant financial instruments approximates fair value due to either the short maturity or the existence of variable interest rates that approximate prevailing market rates. Cash and cash equivalents, accounts receivable and accounts payable are classified as Level 1 fair value inputs as further described in Note 15 – Fair Value of Financial Instruments. Long-term debt is classified as a Level 2 fair value input.
Impairment of long-lived assets and loss on contracts	Impairment of long-lived assets and loss on contracts When events or conditions warrant, the Company evaluates the recoverability of long-lived assets and considers whether these assets are impaired. The Company assesses the recoverability of these assets based on several factors, including management’s intention with respect to these assets and their projected undiscounted cash flows. If projected undiscounted cash flows are less than the carrying amount of the respective assets, the Company adjusts the carrying amounts of such assets to their estimated fair value. To the extent that the carrying value of the net assets of a reportable unit is greater than the estimated fair value, the Company may be required to record impairment charges. The Company records long-lived asset impairment charges as a reduction to property, plant and equipment and an increase in other current liabilities for loss contracts in the Consolidated Balance Sheets.
Deferred financing costs	Deferred financing costs Loan issuance costs and discounts are capitalized upon the issuance of long-term debt and amortized over the life of the related debt. Loan issuance costs associated with revolving debt arrangements are presented as a component of other assets. Loan issuance costs incurred in connection with revolving debt arrangements are amortized using the straight-line method over the life of the credit agreement. Loan issuance costs and discounts incurred in connection with term debt are amortized using the effective interest method. Amortization of deferred loan issuance costs and discounts are included in interest expense. During 2021, 2020 and 2019, the Company recorded $0, $207 and $142, respectively of deferred financing costs associated with its long-term debt and line of credit arrangements. Amortization expense associated with the deferred debt issuance costs and discounts in 2021, 2020 and 2019 was approximately $336, $358 and $381. Accumulated amortization was approximately $720, $616 and $474 as of December 31, 2021, 2020 and 2019, respectively. Amendments made to existing debt in 2021, 2020 and 2019 resulted in the write-offs of $0, $0 and $154, respectively of unamortized costs associated with the debt that was replaced.
Revenue recognition	Revenue recognition The Company adopted ASC 606 January 1, 2019, where the Company recognizes revenue for the transfer of goods or services to a customer in an amount that reflects the consideration it expects to receive in exchange for those goods or services. There are many customers where the Company designs, engineers and builds production tooling, which is purchased by the customer. Most of the tooling revenue is complete at the point the customer signs off on the product through the Product Part Approval Process (PPAP) and the tool is placed into service. Revenue is recognized when control of the tooling promised under a contract is transferred to the customer either at a point in time or over a period of time in an amount that reflects the consideration to which the Company expects to be entitled in exchange for the goods or services. The Company offers certain customers discounts for early payments. These discounts are recorded against net sales in the consolidated statement of comprehensive income and accounts receivable in the Consolidated Balance Sheets. The Company does not offer any other customer incentives, rebates or allowances.
Shipping and handling	Shipping and handling The Company expenses shipping and handling costs as incurred. These costs are generally comprised of salaries and wages, shipping supplies and warehouse costs. Inbound freight costs, which mostly relate to raw materials, are included in cost of sales on the Consolidated Statements of Comprehensive Loss. Outbound freight costs, which mostly relate to sales, are included in net sales on the Consolidated Statements of Comprehensive Loss. The Company does not charge customers nor recognize revenue for shipping and handling. The Company’s OEM customers arrange and pay the freight for delivery.
Advertising	Advertising The Company expenses the costs of advertising when incurred. Advertising expense was approximately $163, $100 and $110 for the twelve months ended December 31, 2021, 2020 and 2019, respectively. Advertising costs are charged to selling, general and administrative expenses.
Income Taxes	Income Taxes Income taxes and uncertain tax positions are accounted for in accordance with ASC 740, “Accounting for Income Taxes”. Deferred income taxes are provided for the differences between the bases of assets and liabilities for financial reporting and income tax purposes. The Company measures deferred tax assets and liabilities using enacted tax rates in effect for the years in which the differences are expected to reverse and recognizes the effect of a change in enacted rates in the period of enactment. Tax positions meeting the more-likely-than-not recognition threshold are measured pursuant to the guidance set forth in ASC 740. A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized. See Note 9 “Income Taxes” of these Notes to Consolidated Financial Statements for further discussion.
Loss per share	Loss per share The Company computes basic loss per share by dividing net loss available to shareholders by the actual weighted average number of common shares outstanding for the reporting period. The dilutive impact to basic earnings per share considers the impact to earnings if all convertible securities were exercised or outstanding that do not have an antidilutive impact on earnings per share.
Treasury Stock	Treasury Stock Treasury stock purchases are accounted for under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock. Subsequent reissuance of shares to the ESOP are recorded as a reduction to treasury stock and as ESOP expense in the Consolidated Statements of Comprehensive Loss.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update (ASU) 2016-02, Leases The new guidance provides a number of optional practical expedients in transition. The Company elected the "package of practical expedients", which allows it to not reassess under the new guidance its prior conclusions about lease identification, lease classification and initial direct costs. The Company did not elect the use-of-hindsight practical expedient. In addition, the new guidance provides accounting policy elections for an entity’s ongoing lessee accounting. The Company has elected to not separate lease and non-lease components for certain of its real estate leases. The Company has elected the short-term lease recognition exemption for all leases that qualify which means that it will not recognize right-of-use assets or lease liabilities for those leases with a term of 12 months or less. The most significant effects of adoption relate to the recognition of right-of-use assets and lease liabilities on the Company’s balance sheet for operating leases and providing new disclosures about the Company’s leasing activities. The Company currently estimates these operating lease liabilities as of January 1, 2022 will be approximately $40,000. The Company does not expect the new guidance to have a material impact on its results of operations. In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments In December 2019, the FASB issued ASU 2019-12, Income Taxes beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption is permitted. The Company is evaluating the potential impact of this guidance on the consolidated financial statements.

Select balance sheet data (Tabl

Select balance sheet data (Tables)	12 Months Ended
	Dec. 31, 2021
Select Balance Sheet Data [Abstract]
Schedule of Inventories	Inventories as of December 31, 2021 and December 31, 2020 consist of: December 31, 2021 December 31, 2020 Finished goods and purchased parts $ 41,041 $ 24,561 Raw materials 18,905 11,266 Work-in-process 10,211 5,539 Total $ 70,157 $ 41,366
Schedule of Property, Plant and Equipment	Property, plant and equipment as of December 31, 2021 and December 31, 2020 consist of: Useful Lives Years December 31, 2021 December 31, 2020 Land Indefinite $ 1,033 $ 1,033 Land improvements 15-39 3,169 3,169 Building and building improvements 15-39 56,243 55,172 Machinery, equipment and tooling 3-10 221,140 199,854 Vehicles 5 3,869 3,778 Office furniture and fixtures 3-7 17,960 16,242 Construction in progress N/A 15,443 3,931 Total property, plant and equipment, gross 318,857 283,179 Less accumulated depreciation 199,247 176,491 Total property, plant and equipment, net $ 119,610 $ 106,688
Schedule of Listing of Intangible Assets	The following is a listing of intangible assets, the useful lives in years (amortization period) and accumulated amortization as of December 31, 2021 and December 31, 2020: Useful Lives Years December 31, 2021 December 31, 2020 Amortizable intangible assets: Customer relationships and contracts 9-12 $ 78,340 $ 78,340 Trade name 10 14,780 14,780 Non-compete agreements 5 8,800 8,800 Patents 19 24 24 Accumulated amortization (54,994 ) (44,288 ) Total amortizable intangible assets, net 46,950 57,656 Non-amortizable brand name 3,811 3,811 Total intangible assets, net $ 50,761 $ 61,467
Schedule Of Changes In Finite Lived Intangible Assets Table Text Block	Changes in intangible assets between December 31, 2020 and December 31, 2021 consist of: Balance as of December 31, 2020 $ 61,467 Amortization expense (10,706 ) Balance as of December 31, 2021 $ 50,761
Schedule of Future Amortization Expense	Future amortization expense is expected to be as followed: Year ending December 31, 2022 $ 6,952 2023 $ 6,866 2024 $ 5,192 2025 $ 5,192 2026 $ 5,192 Thereafter $ 17,556

Capital lease obligations (Tabl

Capital lease obligations (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of Future Minimum Lease Payments Required Under The Lease	Future minimum lease payments required under the lease are as follows: Year ending December 31, 2022 $ 358 2023 358 2024 358 2025 225 Total 1,299 Less payment amount allocated to interest 92 Present value of capital lease obligations $ 1,207 Current portion of capital lease obligations 315 Long-term portion of capital lease obligations 892 Total capital lease obligations $ 1,207

Operating lease obligations (Ta

Operating lease obligations (Tables)	12 Months Ended
	Dec. 31, 2021
Lessee Disclosure [Abstract]
Future Minimum Lease Payments Under Lease	Operating leases relate to property, plant and equipment. Future minimum lease payments required under the lease are as follows: Year ending December 31, 2022 $ 5,693 2023 5,699 2024 5,661 2025 4,832 2026 4,655 Thereafter 18,801 Total $ 45,341

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Income Taxes	Income taxes are included in the Consolidated Statements of Comprehensive Loss at December 31, 2021 and 2020 as below: December 31, 2021 December 31, 2020 Current income tax expense U.S Federal $ 100 $ 129 State 1,203 98 Total 1,303 227 Deferred income tax expense (benefit) U.S Federal (2,790 ) (2,457 ) State (456 ) 156 Total (3,246 ) (2,301 ) Total income tax benefit $ (1,943 ) $ (2,074 )
Schedule of Reconciliation of Statutory Federal Income Tax Benefit to Income Tax Benefit	A reconciliation of the statutory federal income tax benefit to the income tax benefit from continuing operations provided at December 31, 2021 and 2020, is as follows: December 31, 2021 December 31, 2020 Income tax benefit at the federal statutory rate - 21% $ (1,971 ) $ (1,925 ) State and local income taxes - net of federal income tax benefits 523 79 Compensation deduction limitation - section 162(m) adjustment 14 (113 ) Income taxed by shareholder before IPO — (387 ) Other - perms 29 51 Tax credits generated (301 ) (409 ) Uncertain tax positions - current year 75 106 Uncertain tax positions - prior year — 115 Loan fee amortization — 698 Stock compensation (546 ) 764 Section 481(a) adjustments — (184 ) Fixed assets — (452 ) Return to provision 140 (121 ) Other miscellaneous tax 94 (296 ) Total income tax benefit $ (1,943 ) $ (2,074 ) Effective tax rate 26.5 % 22.6 %
Components of Deferred Income Tax Assets and Liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred income tax assets and liabilities are presented below: December 31, 2021 December 31, 2020 Deferred tax assets: Deferred compensation $ 8,349 $ 8,295 Inventory adjustments 1,694 1,506 Accrued expenses 1,530 409 Credits 656 508 Net operating loss 4,080 2,626 Other 240 338 Total deferred tax assets 16,549 13,682 Deferred tax liabilities: Property, plant and equipment 11,612 9,485 Intangibles 13,556 15,773 Other 22 311 Total deferred tax liabilities 25,190 25,569 Valuation allowance — — Net deferred tax liability $ (8,641 ) $ (11,887 )
Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits	The following is a reconciliation of beginning and ending amounts of unrecognized tax benefits: Balance as of December 31, 2020 $ 221 Increase from current year tax positions 100 Decrease from prior year tax positions (7 ) Decrease from settlements with tax authority — Decrease from expiration of statute of limitations — Balance as of December 31, 2021 $ 314

Fair value of financial instr_2

Fair value of financial instruments (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Accounted for at Fair Value by Fair Value Hierarchy	The following table lists the Company’s financial assets and liabilities accounted for at fair value by the fair value hierarchy: Fair Value Measurements at Report Date Using Balance at December 31, 2021 (Level 1) (Level 2) (Level 3) Deferred compensation liability $ 25,117 $ 22,272 $ 2,845 $ — Total $ 25,117 $ 22,272 $ 2,845 $ — Fair Value Measurements at Report Date Using Balance at December 31, 2020 (Level 1) (Level 2) (Level 3) Deferred compensation liability $ 25,631 $ 4,865 $ 20,766 $ — Total $ 25,631 $ 4,865 $ 20,766 $ —

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2021
Revenue From Contract With Customer [Abstract]
Schedule of Changes in Contract Assets and Liabilities	The following table reflects the changes in our contract assets and liabilities during the twelve months ended December 31, 2021. Contract Assets Contract Liabilities As of December 31, 2020 $ 3,126 $ 1,060 Net activity 824 1,658 As of December 31, 2021 $ 3,950 $ 2,718
Schedule of Disaggregation of Revenue by Product Category	The following table represents a disaggregation of revenue by product category: Twelve Months Ended December 31, 2021 2020 2019 Outdoor sports $ 10,039 $ 7,225 $ 7,181 Fabrication 295,988 227,476 334,340 Performance structures 73,207 60,597 71,881 Tube 58,749 49,868 71,108 Tank 25,816 19,431 40,033 Total 463,799 364,597 524,544 Intercompany sales elimination (8,973 ) (6,991 ) (4,839 ) Total, net sales $ 454,826 $ 357,606 $ 519,704

Temporary equity (Tables)

Temporary equity (Tables)	12 Months Ended
	Dec. 31, 2021
Temporary Equity [Abstract]
Schedule of Changes to Temporary Equity	The following table shows all changes to temporary equity during the period of January 1, 2019 through the IPO of May 9, 2019. Temporary Equity Redeemable Common Shares Treasury Shares Retained Earnings Balance as of December 31, 2018 $ 133,806 $ (57,659 ) $ 26,842 Net income pre-IPO — — 2,856 Transfer from temporary equity to common equity (133,806 ) 57,659 (29,698 ) Balance as of December 31, 2019 $ — $ — $ —

Common equity (Tables)

Common equity (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Summary of Changes in Outstanding Common Shares	Changes in outstanding common shares are summarized as follows: 2021 2020 2019 Beginning balance 20,059,390 19,632,211 13,443,484 IPO with Greenshoe option — — 6,402,209 Treasury stock purchases (147,785 ) (320,245 ) (213,482 ) Common stock issued (including share-based compensation impact) 424,329 747,424 — Ending balance 20,335,934 20,059,390 19,632,211

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share	Options in the money that were not included in the computation of diluted earnings per share because they would have had antidilutive impact on earnings per share were as follows: Twelve Months Ended December 31, 2021 2020 2019 Stock options 300,510 600,530 —

Concentration of major custom_2

Concentration of major customers (Tables)	12 Months Ended
	Dec. 31, 2021
Risks And Uncertainties [Abstract]
Schedules of Major Customer Concentrations	The following customers accounted for 10% or greater of the Company’s recorded net sales and net trade receivables: Net Sales Accounts Receivable Twelve Months Ended December 31, As of As of 2021 2020 2019 December 31, 2021 December 31, 2020 Customer A 16.6 % 15.3 % 15.1 % 10.2 % 11.3 % B 10.8 % 11.1 % 13.5 % <10 % <10 % C 10.0 % 12.5 % <10 % <10 % 12.2 % D 14.1 % 11.6 % 13.1 % <10 % <10 % E <10 % <10 % <10 % 11.2 % <10 %

Stock based compensation (Table

Stock based compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Summary of Stock-based Compensation Expenses	The Company’s stock-based compensation expense by award type is summarized as follows: Twelve Months Ended December 31, 2021 2020 2019 IPO unit awards $ — $ 1,029 $ 1,871 Unit awards 3,006 2,305 1,080 Option awards 1,956 1,398 536 Stock based compensation expense, net of tax $ 4,962 $ 4,732 $ 3,487
Schedule of Unrecognized Stock-based Compensation Expense	Units Options Total Balance as of December 31, 2018 $ — $ — $ — Grants 5,634 1,748 7,382 Forfeitures (88 ) (88 ) (176 ) Expense (2,951 ) (536 ) (3,487 ) Balance as of December 31, 2019 2,595 1,124 3,719 Grants 3,022 2,041 5,063 Forfeitures (738 ) (335 ) (1,073 ) Expense (3,334 ) (1,398 ) (4,732 ) Balance as of December 31 2020 1,545 1,432 2,977 Grants 3,456 2,130 5,586 Forfeitures (319 ) (69 ) (388 ) Expense (3,006 ) (1,956 ) (4,962 ) Balance as of December 31, 2021 $ 1,676 $ 1,537 $ 3,213
Summary of Fair Value Assumptions and Inputs	The Company utilized the following assumptions in determining these fair values: Inputs Assumptions 2021 2020 Stock price at date of grant/exercise price $ 14.01 $ 7.12 Expected term (in years) 5.75 5.75 Estimated volatility 53.9 % 41.2 % Estimated risk-free rate of return 0.8 % 1.2 % Expected dividend yield 0.0 % 0.0 %
Units [Member]
Summary of Activity for Unit Award and Stock Option Award	A summary of the Company’s unit award activity is as follows: For the Year Ended December 31, 2021 2020 Number of Units Weighted-Average Grant Date Fair Value Number of Units Weighted-Average Grant Date Fair Value Nonvested, beginning of year 456,257 $ 7.69 326,288 $ 17.00 Grants 233,963 $ 14.54 457,369 $ 6.61 Forfeitures (20,412 ) $ 13.03 (62,409 ) $ 8.90 Vested (314,902 ) $ 8.04 (264,991 ) $ 17.00 Nonvested, end of year 354,906 $ 11.59 456,257 $ 7.69
Stock Option [Member]
Summary of Activity for Unit Award and Stock Option Award	A summary of the Company’s stock option award activity is as follows: For the Year Ended December 31, 2021 2020 Number of Options Weighted-Average Exercise Price Number of Options Weighted-Average Exercise Price Nonvested, beginning of year 718,528 $ 8.74 273,479 $ 17.00 Grants 307,365 $ 14.01 718,489 $ 7.12 Forfeitures (14,337 ) $ 10.41 (148,026 ) $ 9.13 Vested (484,661 ) $ 9.68 (125,414 ) $ 17.00 Nonvested, end of year 526,895 $ 10.91 718,528 $ 8.74

Greenwood Facility Closure an_2

Greenwood Facility Closure and Restructuring (Tables)	12 Months Ended
	Dec. 31, 2021
Restructuring And Related Activities [Abstract]
Schedule of Activity Related to Restructuring	The following table summarizes the activity related to the Greenwood restructuring through December 31, 2020: Employee Severance and Retention Bonus Reserve Inventory Excess and Obsolescence Reserve Other Reserves Total Reserves Balance as of December 31, 2019 $ — $ — $ — $ — Charges 282 622 1,620 2,524 Cash receipts (payments) (282 ) 16 (1,620 ) (1,886 ) Accrual adjustments — (638 ) — (638 ) Balance as of December 31, 2020 $ — $ — $ — $ —

Valuation and qualifying acco_2

Valuation and qualifying accounts (Tables)	12 Months Ended
	Dec. 31, 2021
Valuation And Qualifying Accounts [Abstract]
Schedule Of Valuation And Qualifying Accounts Table Text Block	Description Balance at beginning of period Additions Deductions Balance at end of period Year ended December 31, 2021 Allowance for doubtful accounts $ 1,298 $ 751 $ 1,418 $ 631 Year ended December 31, 2020 Allowance for doubtful accounts $ 526 $ 1,582 $ 810 $ 1,298

Nature of business and summar_3

Nature of business and summary of significant accounting policies - Additional Information (Details)	1 Months Ended	12 Months Ended
	May 31, 2019shares	Dec. 31, 2021USD ($)FacilityReportingUnit	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jan. 01, 2022USD ($)
Accounting Policies [Line Items]
Number of facilities operated | Facility		20
ESOP, plan description		From January 2003 until the Company’s IPO in May 2019, the ESOP owned 100% of the Company’s outstanding shares of common stock which have been fully allocated to active or retired eligible employees.
Percentage of outstanding shares of common stock owned by ESOP	100.00%	48.00%
Allowance for doubtful accounts receivable		$ 631,000	$ 1,298,000
Reserve for obsolete and slow-moving inventories		2,265,000	3,199,000
Tooling in progress		3,950,000	3,126,000
Depreciation expense		$ 21,077,000	21,383,000	$ 22,296,000
Number of reporting unit tested for goodwill impairment | ReportingUnit		1
Goodwill impairment		$ 0
Goodwill		71,535,000	71,535,000
Deferred financing costs		0	207,000	142,000
Amortization of debt issuance costs and discounts		336,000	358,000	381,000
Accumulated amortization		720,000	616,000	474,000
Write-offs of debt unamortized costs		0	0	154,000
Advertising expense		$ 163,000	$ 100,000	$ 110,000
Subsequent Event [Member]
Accounting Policies [Line Items]
Operating lease liabilities					$ 40,000,000
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]					us-gaap:OtherLiabilities
Maximum [Member]
Accounting Policies [Line Items]
Percentage fair value exceeds carrying value		50.00%
Common Stock [Member] | IPO [Member]
Accounting Policies [Line Items]
Common stock sold | shares	6,250,000
Percentage of outstanding shares of common stock owned by ESOP after the IPO	67.00%

IPO - Additional Information (D

IPO - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended
	May 31, 2019	Dec. 31, 2021	Dec. 31, 2020
Initial Public Offering [Line Items]
Conversion of stock Employee Stock Ownership Plan	10,075
Shares in Employee Stock Ownership Plan		7,292,392	8,253,533
IPO [Member]
Initial Public Offering [Line Items]
Shares in Employee Stock Ownership Plan	13,443,484
Common Stock [Member] | IPO [Member]
Initial Public Offering [Line Items]
Common stock sold	6,250,000
Sale of shares prices	$ 17
Cash inflow of issuance of stock	$ 99,344
Common Stock [Member] | Underwriter [Member] | IPO [Member]
Initial Public Offering [Line Items]
Common stock sold	152,209
Sale of shares prices	$ 17
Cash inflow of issuance of stock	$ 2,419
May 2019 IPO [Member]
Initial Public Offering [Line Items]
Dividend stock split conversion ratio	133434.00%

Select balance sheet data - Sch

Select balance sheet data - Schedule of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Select Balance Sheet Data [Abstract]
Finished goods and purchased parts	$ 41,041	$ 24,561
Raw materials	18,905	11,266
Work-in-process	10,211	5,539
Total	$ 70,157	$ 41,366

Select balance sheet data - Add

Select balance sheet data - Additional Information (Details) - USD ($)	Aug. 30, 2021	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Select Balance Sheet Data [Line Items]
Impairment of inventory		$ 700,000
Net amount of property, plant and equipment associated with facility				$ 3,552,000
Amount invested for ramp-up of production		19,658,000	$ 19,658,000
Impairment of long-lived asset		12,875,000
Goodwill impairment loss			0
Goodwill		$ 71,535,000	71,535,000	71,535,000
Change in goodwill carrying amount			0	0
Amortization expense			$ 10,706,000	$ 10,706,000	$ 10,706,000
Minimum [Member]
Select Balance Sheet Data [Line Items]
Percentage of fair value of reporting unit in excess of carrying amount		50.00%	50.00%
Construction in Progress [Member]
Select Balance Sheet Data [Line Items]
Amount invested for ramp-up of production		$ 6,654,000	$ 6,654,000
Greenwood Facility [Member]
Select Balance Sheet Data [Line Items]
Proceeds from sale of business before commission and fees	$ 5,300,000		5,300,000
Gain on the sale of the asset	$ 1,374,000		$ 1,374,000

Select balance sheet data - S_2

Select balance sheet data - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 318,857	$ 283,179
Less accumulated depreciation	199,247	176,491
Total property, plant and equipment, net	119,610	106,688
Land [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 1,033	1,033
Property, plant and equipment useful lives	Indefinite
Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 3,169	3,169
Land Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful lives	15 years
Land Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful lives	39 years
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 56,243	55,172
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful lives	15 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful lives	39 years
Machinery, Equipment and Tooling [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 221,140	199,854
Machinery, Equipment and Tooling [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful lives	3 years
Machinery, Equipment and Tooling [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful lives	10 years
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 3,869	3,778
Property, plant and equipment useful lives	5 years
Office Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 17,960	16,242
Office Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful lives	3 years
Office Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful lives	7 years
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 15,443	$ 3,931

Select balance sheet data - S_3

Select balance sheet data - Schedule of Listing of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Amortizable intangible assets [Abstract]
Accumulated amortization	$ (54,994)	$ (44,288)
Total amortizable intangible assets, net	46,950	57,656
Total intangible assets, net	50,761	61,467
Customer Relationships and Contracts [Member]
Amortizable intangible assets [Abstract]
Amortizable intangible assets, gross	$ 78,340	$ 78,340
Trade Names [Member]
Amortizable intangible assets [Abstract]
Intangible assets useful Lives	10 years	10 years
Amortizable intangible assets, gross	$ 14,780	$ 14,780
Noncompete Agreements [Member]
Amortizable intangible assets [Abstract]
Intangible assets useful Lives	5 years	5 years
Amortizable intangible assets, gross	$ 8,800	$ 8,800
Patents [Member]
Amortizable intangible assets [Abstract]
Intangible assets useful Lives	19 years	19 years
Amortizable intangible assets, gross	$ 24	$ 24
Non-amortizable Brand Name [Member]
Amortizable intangible assets [Abstract]
Total intangible assets, net	$ 3,811	$ 3,811
Minimum [Member] | Customer Relationships and Contracts [Member]
Amortizable intangible assets [Abstract]
Intangible assets useful Lives	9 years	9 years
Maximum [Member] | Customer Relationships and Contracts [Member]
Amortizable intangible assets [Abstract]
Intangible assets useful Lives	12 years	12 years

Select balance sheet data - S_4

Select balance sheet data - Schedule of Changes In Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Select Balance Sheet Data [Abstract]
Balance	$ 61,467
Amortization expense	(10,706)	$ (10,706)	$ (10,706)
Balance	$ 50,761	$ 61,467

Select balance sheet data - S_5

Select balance sheet data - Schedule of Future Amortization Expense (Details) $ in Thousands	Dec. 31, 2021USD ($)
Select Balance Sheet Data [Abstract]
2022	$ 6,952
2023	6,866
2024	5,192
2025	5,192
2026	5,192
Thereafter	$ 17,556

Bank revolving credit notes - A

Bank revolving credit notes - Additional Information (Details) - USD ($)	Sep. 26, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Line Of Credit Facility [Line Items]
Revolving credit notes		$ 67,610,000	$ 45,257,000	$ 67,610,000	$ 45,257,000
A&R Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Minimum interest coverage ratio				3.00%
Maximum consolidated leverage ratio				3.25%
A&R Credit Agreement [Member] | The Agent [Member]
Line Of Credit Facility [Line Items]
Credit agreement additional borrowing capacity through accordion feature	$ 100,000,000
Credit agreement maturity date	Sep. 26, 2024
Second Amendment [Member]
Line Of Credit Facility [Line Items]
Minimum interest coverage ratio				3.00%
Maximum consolidated leverage ratio				3.25%
Debt instrument covenant description				The Second Amendment provided the Company with temporary changes to the total leverage ratio covenant for the period from June 30, 2020, through December 31, 2021, or such earlier date as the Company may elect (Covenant Relief Period), in return for certain increases in interest rates, fees and restrictions on certain activities of the Company, including capital expenditures, acquisitions, dividends and share repurchases. New pricing, which took effect for the quarters ending on and after September 30, 2020, includes interest at a fluctuating London Interbank Offered Rate (LIBOR) (at a floor of 75 basis points), plus 1.00% to 2.75%, along with the commitment fee ranging from 20 to 50 basis points.
Floor rate				0.75%
Leverage ratio		3.25%	4.25%
Consolidated leverage ratio				2.43%
Interest coverage ratios				10.36%
Second Amendment [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Debt instrument commitment fee percentage				0.20%
Second Amendment [Member] | Minimum [Member] | LIBOR [Member]
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate				1.00%
Second Amendment [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Debt instrument commitment fee percentage				0.50%
Second Amendment [Member] | Maximum [Member] | LIBOR [Member]
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate				2.75%
Third Amendment [Member]
Line Of Credit Facility [Line Items]
Capital expenditure incurred					$ 35,000,000
Third Amendment [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Capital expenditure incurred				$ 70,000,000
Revolving Credit Facility [Member]
Line Of Credit Facility [Line Items]
Interest rate				1.75%	2.50%
Revolving commitments fee percentage				0.20%	0.20%
Revolving credit notes		$ 67,610,000	$ 45,257,000	$ 67,610,000	$ 45,257,000
Revolving Credit Facility [Member] | A&R Credit Agreement [Member] | The Agent [Member]
Line Of Credit Facility [Line Items]
Credit agreement borrowing capacity	$ 200,000,000
Letter of Credit Sub-facility [Member] | A&R Credit Agreement [Member] | The Agent [Member]
Line Of Credit Facility [Line Items]
Credit agreement borrowing capacity	5,000,000
Swingline Facility [Member] | A&R Credit Agreement [Member] | The Agent [Member]
Line Of Credit Facility [Line Items]
Credit agreement borrowing capacity	$ 20,000,000

Capital lease obligations - Add

Capital lease obligations - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Capital Leased Assets [Line Items]
Capital Lease Obligations	$ 1,207
Non-cash capital lease transactions	0	$ 0	$ 1,776
Equipment [Member]
Capital Leased Assets [Line Items]
Capitalized cost	2,170	3,825
Capital lease, accumulated depreciation	1,034	1,245
Capital lease, depreciation recognized	$ 565	$ 644

Capital lease obligations - Sch

Capital lease obligations - Schedule of Future Minimum Lease Payments Required Under The Lease (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2022	$ 358
2023	358
2024	358
2025	225
Total	1,299
Less payment amount allocated to interest	92
Present value of capital lease obligations	1,207
Current portion of capital lease obligations	315	$ 626
Long-term portion of capital lease obligations	892	$ 2,061
Total capital lease obligations	$ 1,207

Operating lease obligations - F

Operating lease obligations - Future Minimum Lease Payments Under Lease (Details) $ in Thousands	Dec. 31, 2021USD ($)
Operating Lease Liabilities Payments Due [Abstract]
2022	$ 5,693
2023	5,699
2024	5,661
2025	4,832
2026	4,655
Thereafter	18,801
Total	$ 45,341

Operating lease obligations - A

Operating lease obligations - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lessee Disclosure [Abstract]
Operating lease expiration period	2031-08
Rent expense	$ 5,282	$ 4,471	$ 4,801

Employee stock ownership plan -

Employee stock ownership plan - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Annual contribution vesting percentage			3.00%	3.00%
Employee stock ownership plan (ESOP), (income) expense			$ 5,453
Shares in ESOP	7,292,392	8,253,533
Employee Stock Option [Member]
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Employee stock ownership plan (ESOP), (income) expense	$ 0	$ 0	$ 5,453

Retirement plans - Additional I

Retirement plans - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Percentage of employee contribution of eligible compensation plan	50.00%
Defined contribution plan, employer discretionary contribution amount	$ 2,057	$ 1,833	$ 0

Income taxes - Schedule of Inco

Income taxes - Schedule of Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current income tax expense
U.S Federal	$ 100	$ 129
State	1,203	98
Total	1,303	227
Deferred income tax expense (benefit)
U.S Federal	(2,790)	(2,457)
State	(456)	156
Total	(3,246)	(2,301)
Total income tax benefit	$ (1,943)	$ (2,074)	$ (4,088)

Income taxes - Schedule of Reco

Income taxes - Schedule of Reconciliation of Statutory Federal Income Tax Benefit to Income Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax benefit at the federal statutory rate - 21%	$ (1,971)	$ (1,925)
State and local income taxes - net of federal income tax benefits	523	79
Compensation deduction limitation - section 162(m) adjustment	14	(113)
Income taxed by shareholder before IPO		(387)
Other - perms	29	51
Tax credits generated	(301)	(409)
Uncertain tax positions - current year	75	106
Uncertain tax positions - prior year		115
Loan fee amortization		698
Stock compensation	(546)	764
Section 481(a) adjustments		(184)
Fixed assets		(452)
Return to provision	140	(121)
Other miscellaneous tax	94	(296)
Total income tax benefit	$ (1,943)	$ (2,074)	$ (4,088)
Effective tax rate	26.50%	22.60%

Income taxes - Schedule of Re_2

Income taxes - Schedule of Reconciliation of Statutory Federal Income Tax Benefit to Income Tax Benefit (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Percentage of federal statutory rate	21.00%	21.00%

Income taxes - Components of De

Income taxes - Components of Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Deferred compensation	$ 8,349	$ 8,295
Inventory adjustments	1,694	1,506
Accrued expenses	1,530	409
Credits	656	508
Net operating loss	4,080	2,626
Other	240	338
Total deferred tax assets	16,549	13,682
Deferred tax liabilities:
Property, plant and equipment	11,612	9,485
Intangibles	13,556	15,773
Other	22	311
Total deferred tax liabilities	25,190	25,569
Net deferred tax liability	$ (8,641)	$ (11,887)

Income taxes - Additional Infor

Income taxes - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021USD ($)
Income Tax [Line Items]
Tax expense for interest and penalties	$ 0
Unrecognized tax benefits that would impact effective tax rate	314,000
Federal [Member]
Income Tax [Line Items]
Net operating loss carryforwards	$ 18,466,000
Tax years open for examination	2018
State [Member]
Income Tax [Line Items]
Net operating loss carryforwards	$ 4,386,000
Tax years open for examination	2017

Income taxes - Reconciliation o

Income taxes - Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Income Tax Disclosure [Abstract]
Balance as of December 31, 2020	$ 221
Increase from current year tax positions	100
Decrease from prior year tax positions	(7)
Balance as of December 31, 2021	$ 314

Deferred compensation - Additio

Deferred compensation - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Description of deferred compensation arrangements	The Mayville Engineering Deferred Compensation Plan is available for certain employees designated to be eligible to participate by the Company and approved by the Board of Directors.
Deferred compensation plan (Income) expense	$ 11,500	$ 8,250	$ 25,105
Deferred compensation cash-based arrangements liability	25,117	25,631
Deferred Profit Sharing [Member]
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Deferred compensation plan (Income) expense	812	725	10,476
Employees [Member]
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Deferred compensation plan (Income) expense	$ 0	$ 63	$ 1,296
Maximum [Member]
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Annual short term cash incentive	100.00%
Deferred compensation arrangements	50.00%

Long-Term incentive plan - Addi

Long-Term incentive plan - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Long term incentives plan terms	Prior to the IPO, the Company’s long-term incentive plan (LTIP) was available for any employee who had been designated to be eligible to participate by the Compensation Committee of the Board of Directors. Annually, the LTIP provided for long-term cash incentive awards to eligible participants based on the Company’s performance over a three-year performance period.
Long-Term Incentive Plan	$ 11,500	$ 8,250	$ 25,105
Deferred Bonus
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Long-Term Incentive Plan	$ 0	$ 0	$ 10,000
Chief Executive Officer [Member]
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Increase in fair value of long term incentive plan			12.00%
Long term incentive plan			3 years

Self-Funded insurance - Additio

Self-Funded insurance - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Insurance [Abstract]
Estimated accrued liability	$ 1,471	$ 1,721
Reinsured limit of aggregate expense	$ 17,157	$ 20,849	$ 19,208

Segments - Additional Informati

Segments - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021Segment
Segment Reporting [Abstract]
Number of operating segments	1

Fair value of financial instr_3

Fair value of financial instruments - Schedule of Financial Assets and Liabilities Accounted for at Fair Value by Fair Value Hierarchy (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	$ 25,117	$ 25,631
Fair Value, Inputs, Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	22,272	4,865
Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	2,845	20,766
Fair Value, Inputs, Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	0	0
Deferred Compensation Liability [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	25,117	25,631
Deferred Compensation Liability [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	22,272	4,865
Deferred Compensation Liability [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	2,845	20,766
Deferred Compensation Liability [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	$ 0	$ 0

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Changes in Contract Assets and Liabilities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Revenue From Contract With Customer [Abstract]
Contract asset, beginning balance	$ 3,126
Net activity	824
Contract asset, ending balance	3,950
Contract liability, beginning balance	1,060
Net activity	1,658
Contract liability, ending balance	$ 2,718

Revenue Recognition - Schedul_2

Revenue Recognition - Schedule of Disaggregation of Revenue by Product Category (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation Of Revenue [Line Items]
Net sales	$ 454,826	$ 357,606	$ 519,704
Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	463,799	364,597	524,544
Intercompany Sales Elimination
Disaggregation Of Revenue [Line Items]
Net sales	(8,973)	(6,991)	(4,839)
Outdoor Sports | Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	10,039	7,225	7,181
Fabrication | Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	295,988	227,476	334,340
Performance structures | Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	73,207	60,597	71,881
Tube | Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	58,749	49,868	71,108
Tank | Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	$ 25,816	$ 19,431	$ 40,033

Temporary equity - Schedule of

Temporary equity - Schedule of Changes to Temporary Equity (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Redeemable Common Stock
Temporary Equity [Line Items]
Beginning, Balance	$ 133,806
Temporary Equity, Stock Issued During Period, Value, New Issues	(133,806)
Treasury Shares [Member]
Temporary Equity [Line Items]
Beginning, Balance	(57,659)
Temporary Equity, Stock Issued During Period, Value, New Issues	57,659
Retained Earnings [Member]
Temporary Equity [Line Items]
Beginning, Balance	26,842
Net income pre-IPO	2,856
Temporary Equity, Stock Issued During Period, Value, New Issues	$ (29,698)

Common equity - Additional Info

Common equity - Additional Information (Details) - shares	Jun. 28, 2019	May 13, 2019	Dec. 31, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
Stockholders' equity dividend description		On May 13, 2019, the Company issued a stock dividend specific to pre-IPO shares, of approximately 1,334.34-for-1. The share dividend was accounted for as a 1,334.34-for-1 stock split and is retroactively reflected in these consolidated financial statements. All share redemption provisions were removed effective with the IPO.
Common Stock, Shares Authorized			75,000,000	75,000,000
Common Stock [Member]
Class Of Stock [Line Items]
Shares cancelled	24,180,421
Common Stock [Member] | IPO [Member]
Class Of Stock [Line Items]
Additional commons stock was sold		6,402,209

Common equity - Summary of Chan

Common equity - Summary of Changes in Outstanding Common Shares (Details) - Common Stock [Member] - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class Of Stock [Line Items]
Beginning balance	20,059,390	19,632,211	13,443,484
IPO with Greenshoe option			6,402,209
Treasury stock purchases	(147,785)	(320,245)	(213,482)
Common stock issued (including share-based compensation impact)	424,329	747,424
Ending balance	20,335,934	20,059,390	19,632,211

Earnings per share - Schedule o

Earnings per share - Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share	300,510	600,530

Concentration of major custom_3

Concentration of major customers - Schedules of Major Customer Concentrations (Details) - Customer Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Customer A [Member] | Sales Revenue, Net [Member]
Concentration Risk [Line Items]
Concentration risk percentage	16.60%	15.30%	15.10%
Customer A [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration risk percentage	10.20%	11.30%
Customer B [Member] | Sales Revenue, Net [Member]
Concentration Risk [Line Items]
Concentration risk percentage	10.80%	11.10%	13.50%
Customer B [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration risk percentage	<10%	<10%
Customer C [Member] | Sales Revenue, Net [Member]
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	12.50%
Concentration risk percentage			<10%
Customer C [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration risk percentage		12.20%
Concentration risk percentage	<10%
Customer D [Member] | Sales Revenue, Net [Member]
Concentration Risk [Line Items]
Concentration risk percentage	14.10%	11.60%	13.10%
Customer D [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration risk percentage	<10%	<10%
Customer E [Member] | Sales Revenue, Net [Member]
Concentration Risk [Line Items]
Concentration risk percentage	<10%	<10%	<10%
Customer E [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration risk percentage	11.20%
Concentration risk percentage		<10%

Stock based compensation - Addi

Stock based compensation - Additional Information (Details) - USD ($)	May 08, 2019	Dec. 31, 2021	Dec. 31, 2020	Apr. 20, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation recognition period		Feb. 28, 2023
Stock options, issued and outstanding		250,505
Stock options outstanding, exercise price		$ 17
Stock options outstanding, remaining contractual life		7 years 11 months 4 days
Stock options outstanding, intrinsic value		$ 0
Share-based compensation arrangement by share-based payment award, fair value assumptions, method used		Black-Scholes valuation model
Fair value of the options granted		$ 6.93	$ 2.84
Share-based compensation arrangement by share-based payment award, contractual life		10 years
Share-based compensation arrangement by share-based payment award, award requisite service period		2 years
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage		50.00%
Share based compensation arrangement by share based payment award options average expected term		5 years 9 months
Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement by share based payment award options expected term		5 years 6 months
Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement by share based payment award options expected term		6 years
Non-Employee Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options awarded, value	$ 0
2019 Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments based on the value of its common stock			2,000,000
Number of shares authorized				2,500,000

Stock based compensation - Summ

Stock based compensation - Summary of Stock-based Compensation Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense, net of tax	$ 4,962	$ 4,732	$ 3,487
IPO Unit Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense, net of tax		1,029	1,871
Unit Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense, net of tax	3,006	2,305	1,080
Option Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense, net of tax	$ 1,956	$ 1,398	$ 536

Stock based compensation - Sche

Stock based compensation - Schedule of Unrecognized Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance	$ 2,977	$ 3,719
Grants	5,586	5,063	7,382
Forfeitures	(388)	(1,073)	(176)
Expense	(4,962)	(4,732)	(3,487)
Ending Balance	3,213	2,977	3,719
Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance	1,545	2,595
Grants	3,456	3,022	5,634
Forfeitures	(319)	(738)	(88)
Expense	(3,006)	(3,334)	(2,951)
Ending Balance	1,676	1,545	2,595
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance	1,432	1,124
Grants	2,130	2,041	1,748
Forfeitures	(69)	(335)	(88)
Expense	(1,956)	(1,398)	(536)
Ending Balance	$ 1,537	$ 1,432	$ 1,124

Stock based compensation - Su_2

Stock based compensation - Summary of Activity for Unit Award and Stock Option Award (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Weighted average grant date fair value
Weighted average grant date fair value, Grants	$ 6.93	$ 2.84
Units [Member]
Number of units
Number of units, Beginning balance	456,257	326,288
Number of units, Grants	233,963	457,369
Number of units, Forfeitures	(20,412)	(62,409)
Number of units, Vested	(314,902)	(264,991)
Number of units, Ending balance	354,906	456,257
Weighted average grant date fair value
Weighted average grant date fair value, Beginning balance	$ 7.69	$ 17
Weighted average grant date fair value, Grants	14.54	6.61
Weighted average grant date fair value, Forfeitures	13.03	8.90
Weighted average grant date fair value, Vested	8.04	17
Weighted average grant date fair value, Ending balance	$ 11.59	$ 7.69
Employee Stock Option [Member]
Number of options
Number of options, Beginning balance	718,528	273,479
Number of options, Grants	307,365	718,489
Number of options, Forfeitures	(14,337)	(148,026)
Number of options, Vested	(484,661)	(125,414)
Number of options, Ending balance	526,895	718,528
Weighted average grant date fair value
Weighted average grant date fair value, Beginning balance	$ 8.74	$ 17
Weighted average grant date fair value, Grants	14.01	7.12
Weighted average grant date fair value, Forfeitures	10.41	9.13
Weighted average grant date fair value, Vested	9.68	17
Weighted average grant date fair value, Ending balance	$ 10.91	$ 8.74

Stock based compensation - Su_3

Stock based compensation - Summary of Fair Value Assumptions and Inputs (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock price at date of grant/exercise price	$ 14.01	$ 7.12
Expected term (in years)	5 years 9 months	5 years 9 months
Estimated volatility	53.90%	41.20%
Estimated risk-free rate of return	0.80%	1.20%
Expected dividend yield	0.00%	0.00%

Greenwood Facility Closure an_3

Greenwood Facility Closure and Restructuring - Additional Information (Detail) $ in Thousands	Aug. 30, 2021USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)Facility	Dec. 31, 2019USD ($)
Restructuring Cost And Reserve [Line Items]
Loss (gain) on disposal of property, plant and equipment			$ (1,311)	$ 667	$ (62)
Greenwood Facility [Member]
Restructuring Cost And Reserve [Line Items]
Date of announcement of closing facility				May 6, 2020
Proceeds from sale of business before commission and fees	$ 5,300		5,300
Gain on the sale of the asset	1,374		1,374
Total costs incurred for facility closure and restructuring			$ 0	$ 2,524
Loss (gain) on disposal of property, plant and equipment				931
Severance and retention bonuses				282
Disposition of inventory				622
Buyout of operating leases				78
Estimated fair value of facility	$ 3,552			3,552
Assets disposed, net book value				$ 2,475
Assets disposed remaining useful life				3 years
Assets disposed depreciation expense				$ 825
Assets disposed remaining weighted average useful life	27 years
Annual depreciation expense	$ 133
Disposal group annual facility maintenance costs				800
Disposal group assets personnel costs		$ 2,250
Disposal group assets annual personnel expenses				$ 9,000
Disposal group assets annual personnel expenses to be transitioned to other facilities | Facility				5

Greenwood Facility Closure an_4

Greenwood Facility Closure and Restructuring - Schedule of Activity Related to Restructuring (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Restructuring Cost And Reserve [Line Items]
Charges	$ 2,524
Cash receipts (payments)	(1,886)
Accrual adjustments	(638)
Employee Severance and Retention Bonus Reserve [Member]
Restructuring Cost And Reserve [Line Items]
Charges	282
Cash receipts (payments)	(282)
Inventory Excess and Obsolescence Reserve [Member]
Restructuring Cost And Reserve [Line Items]
Charges	622
Cash receipts (payments)	16
Accrual adjustments	(638)
Other Reserves [Member]
Restructuring Cost And Reserve [Line Items]
Charges	1,620
Cash receipts (payments)	$ (1,620)

Valuation and qualifying acco_3

Valuation and qualifying accounts - Schedule Of Valuation And Qualifying Accounts (Details) - Allowance for Doubtful Accounts [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period	$ 1,298	$ 526
Additions	751	1,582
Deductions	1,418	810
Balance at end of period	$ 631	$ 1,298

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ in Thousands	Feb. 18, 2022	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Subsequent Event [Line Items]
Impairment of long-lived assets		$ 12,875
Decreased inventories, net			$ 27,896	$ (4,246)	$ (8,886)
Net tax benefit			(1,943)	$ (2,074)	$ (4,088)
Transaction with New Fitness Customer [Member]
Subsequent Event [Line Items]
Impairment of long-lived assets			16,151
Increase in cost of sales			700
Decreased property, plant and equipment, net			(12,875)
Increase in other current liabilities			3,276
Decreased inventories, net			(39)
Net tax benefit			3,963
Transaction with New Fitness Customer [Member] | Other Current Liabilities [Member]
Subsequent Event [Line Items]
Increase in cost of sales			$ 661
Subsequent Event [Member]
Subsequent Event [Line Items]
Term of contract for fitness market	4 years