Wabash National (WNC) 10-Q 5 Nov 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Oct. 30, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-10883
Entity Registrant Name	WABASH NATIONAL CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-1375208
Entity Address, Address Line One	1000 Sagamore Parkway South
Entity Address, City or Town	Lafayette
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	47905
City Area Code	765
Local Phone Number	771-5300
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	WNC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		52,950,178
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000879526
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 215,822	$ 140,516
Accounts receivable, net	104,642	172,737
Inventories, net	201,510	186,914
Prepaid expenses and other	44,534	41,222
Total current assets	566,508	541,389
Property, plant, and equipment, net	214,900	221,346
Goodwill	204,351	311,026
Intangible assets, net	173,384	189,898
Other assets	36,939	40,932
Total assets	1,196,082	1,304,591
Current liabilities:
Current portion of long-term debt	1,500	0
Current portion of finance lease obligations	342	327
Accounts payable	145,393	134,821
Other accrued liabilities	132,556	124,230
Total current liabilities	279,791	259,378
Long-term debt	457,222	455,386
Finance lease obligations	119	378
Deferred income taxes	36,080	37,576
Other non-current liabilities	25,505	30,885
Total liabilities	798,717	783,603
Commitments and contingencies
Stockholders’ equity:
Common stock 200,000,000 shares authorized, $0.01 par value, 52,912,988 and 53,473,620 shares outstanding, respectively	753	750
Additional paid-in capital	641,236	638,917
Retained earnings	106,118	221,841
Accumulated other comprehensive losses	(4,135)	(3,978)
Treasury stock at cost, 22,500,750 and 21,640,109 common shares, respectively	(346,607)	(336,542)
Total stockholders' equity	397,365	520,988
Total liabilities and stockholders’ equity	$ 1,196,082	$ 1,304,591

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares outstanding (in shares)	52,912,988	53,473,620
Treasury stock, shares (in shares)	22,500,750	21,640,109

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Net sales	$ 351,584	$ 580,908	$ 1,077,811	$ 1,740,135
Cost of sales	308,390	503,173	963,553	1,506,060
Gross profit	43,194	77,735	114,258	234,075
General and administrative expenses	22,749	25,353	68,574	82,002
Selling expenses	6,510	8,998	19,394	25,715
Amortization of intangible assets	5,496	5,115	16,484	15,353
Asset Impairment Charges and Other	31	0	105,455	0
Income (loss) from operations	8,408	38,269	(95,649)	111,005
Other income (expense):
Interest expense	(5,749)	(6,713)	(17,903)	(20,823)
Other, net	(57)	1,333	348	2,245
Other expense, net	(5,806)	(5,380)	(17,555)	(18,578)
Income (loss) before income tax (benefit) expense	2,602	32,889	(113,204)	92,427
Income tax (benefit) expense	(1,285)	7,429	(10,298)	21,227
Net income (loss)	$ 3,887	$ 25,460	$ (102,906)	$ 71,200
Net income (loss) per share:
Basic (in usd per share)	$ 0.07	$ 0.47	$ (1.94)	$ 1.30
Diluted (in usd per share)	$ 0.07	$ 0.46	$ (1.94)	$ 1.28
Weighted average common shares outstanding (in thousands):
Basic (in shares)	52,912	54,413	52,980	54,975
Diluted (in shares)	53,380	55,019	52,980	55,502
Dividends declared per share (in usd per share)	$ 0.08	$ 0.08	$ 0.24	$ 0.24

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 3,887	$ 25,460	$ (102,906)	$ 71,200
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	262	(463)	(1,056)	(280)
Unrealized gain (loss) on derivative instruments	2,518	(536)	899	(1,272)
Total other comprehensive income (loss)	2,780	(999)	(157)	(1,552)
Comprehensive income (loss)	$ 6,667	$ 24,461	$ (103,063)	$ 69,648

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities
Net loss for the period	$ (102,906)	$ 71,200
Adjustments to reconcile net (loss) income to net cash provided by operating activities
Depreciation	18,656	16,258
Amortization of intangibles	16,484	15,353
Net (gain) loss on sale of property, plant and equipment	(1,669)	(40)
Loss on debt extinguishment	219	104
Deferred income taxes	(753)	(2,451)
Stock-based compensation	2,278	7,362
Impairment	107,114	0
Non-cash interest expense	807	783
Accounts receivable	68,095	9,671
Inventories	(14,596)	(89,869)
Prepaid expenses and other	(3,086)	(2,368)
Accounts payable and accrued liabilities	20,128	57,750
Other, net	(3,672)	(7,535)
Net cash provided by operating activities	107,099	76,218
Cash flows from investing activities
Capital expenditures	(13,719)	(22,244)
Proceeds from the sale of property, plant, and equipment	2,726	785
Net cash used in investing activities	(10,993)	(21,459)
Cash flows from financing activities
Proceeds from exercise of stock options	44	361
Dividends paid	(13,015)	(13,443)
Borrowings under term loan credit facility, net of original issuance discount	148,500	0
Borrowings under revolving credit facilities	45,584	446
Payments under revolving credit facilities	(45,584)	(446)
Finance Lease, Principal Payments	(244)	(230)
Principal payments under term loan credit facility	(135,228)	(30,470)
Principal payments against senior notes	(10,000)	0
Debt issuance costs paid	(792)	(142)
Stock repurchases	(10,065)	(22,652)
Net cash used in financing activities	(20,800)	(66,576)
Cash and cash equivalents:
Net increase (decrease) in cash, cash equivalents, and restricted cash	75,306	(11,817)
Cash, cash equivalents and restricted cash at beginning of period	140,516	132,690
Cash, cash equivalents, and restricted cash at end of period	215,822	120,873
Supplemental disclosures of cash flow information:
Cash paid for interest	13,061	15,639
(Refunds received) cash paid for income taxes	$ (4,695)	$ 18,965

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Losses	Treasury Stock
Balance at beginning of period (in shares) at Dec. 31, 2018		55,135,788
Balance at beginning of period at Dec. 31, 2018	$ 473,849	$ 744	$ 629,039	$ 150,244	$ (3,343)	$ (302,835)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss for the period	14,780			14,780
Foreign currency translation	298				298
Stock-based compensation (in shares)		273,158
Stock-based compensation	2,586	$ 5	2,581
Stock repurchase	(2,635)					(2,635)
Common stock dividends	(4,512)			(4,512)
Unrealized loss on derivative instruments, net of tax	(814)				(814)
Stock option exercises (in shares)		15,187
Stock option exercises	54		54
Balance at end of period (in shares) at Mar. 31, 2019		55,424,133
Balance at end of period at Mar. 31, 2019	483,606	$ 749	631,674	160,512	(3,859)	(305,470)
Balance at beginning of period (in shares) at Dec. 31, 2018		55,135,788
Balance at beginning of period at Dec. 31, 2018	473,849	$ 744	629,039	150,244	(3,343)	(302,835)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss for the period	71,200
Foreign currency translation	(280)
Balance at end of period (in shares) at Sep. 30, 2019		54,122,624
Balance at end of period at Sep. 30, 2019	515,058	$ 750	636,756	207,934	(4,895)	(325,487)
Balance at beginning of period (in shares) at Mar. 31, 2019		55,424,133
Balance at beginning of period at Mar. 31, 2019	483,606	$ 749	631,674	160,512	(3,859)	(305,470)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss for the period	30,960			30,960
Foreign currency translation	(115)				(115)
Stock-based compensation (in shares)		26,639
Stock-based compensation	2,791		2,791
Stock repurchase (in shares)		(775,081)
Stock repurchase	(11,217)					(11,217)
Common stock dividends	(4,538)			(4,538)
Unrealized loss on derivative instruments, net of tax	78				78
Balance at end of period (in shares) at Jun. 30, 2019		54,675,691
Balance at end of period at Jun. 30, 2019	501,565	$ 749	634,465	186,934	(3,896)	(316,687)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss for the period	25,460			25,460
Foreign currency translation	(463)				(463)
Stock-based compensation (in shares)		8,176
Stock-based compensation	1,963		1,985			(22)
Stock repurchase (in shares)		(590,256)
Stock repurchase	(8,778)					(8,778)
Common stock dividends	(4,460)			(4,460)
Unrealized loss on derivative instruments, net of tax	(536)				(536)
Stock option exercises (in shares)		29,013
Stock option exercises	307	$ 1	306
Balance at end of period (in shares) at Sep. 30, 2019		54,122,624
Balance at end of period at Sep. 30, 2019	515,058	$ 750	636,756	207,934	(4,895)	(325,487)
Balance at beginning of period (in shares) at Dec. 31, 2019		53,473,620
Balance at beginning of period at Dec. 31, 2019	520,988	$ 750	638,917	221,841	(3,978)	(336,542)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss for the period	(106,647)			(106,647)
Foreign currency translation	(1,636)				(1,636)
Stock-based compensation (in shares)		141,223
Stock-based compensation	(917)	$ 3	(920)
Stock repurchase (in shares)		(766,122)
Stock repurchase	(10,051)					(10,051)
Common stock dividends	(3,885)			(3,885)
Unrealized loss on derivative instruments, net of tax	(3,883)				(3,883)
Balance at end of period (in shares) at Mar. 31, 2020		52,848,721
Balance at end of period at Mar. 31, 2020	393,969	$ 753	637,997	111,309	(9,497)	(346,593)
Balance at beginning of period (in shares) at Dec. 31, 2019		53,473,620
Balance at beginning of period at Dec. 31, 2019	520,988	$ 750	638,917	221,841	(3,978)	(336,542)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss for the period	(102,906)
Foreign currency translation	(1,056)
Balance at end of period (in shares) at Sep. 30, 2020		52,912,988
Balance at end of period at Sep. 30, 2020	397,365	$ 753	641,236	106,118	(4,135)	(346,607)
Balance at beginning of period (in shares) at Mar. 31, 2020		52,848,721
Balance at beginning of period at Mar. 31, 2020	393,969	$ 753	637,997	111,309	(9,497)	(346,593)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss for the period	(146)			(146)
Foreign currency translation	318				318
Stock-based compensation (in shares)		57,394
Stock-based compensation	1,333		1,333
Stock repurchase	(14)					(14)
Common stock dividends	(4,507)			(4,507)
Unrealized loss on derivative instruments, net of tax	2,264				2,264
Balance at end of period (in shares) at Jun. 30, 2020		52,906,115
Balance at end of period at Jun. 30, 2020	393,217	$ 753	639,330	106,656	(6,915)	(346,607)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss for the period	3,887			3,887
Foreign currency translation	262				262
Stock-based compensation (in shares)		2,253
Stock-based compensation	1,862		1,862
Common stock dividends	(4,425)			(4,425)
Unrealized loss on derivative instruments, net of tax	2,518				2,518
Stock option exercises (in shares)		4,620
Stock option exercises	44		44
Balance at end of period (in shares) at Sep. 30, 2020		52,912,988
Balance at end of period at Sep. 30, 2020	$ 397,365	$ 753	$ 641,236	$ 106,118	$ (4,135)	$ (346,607)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATIONThe condensed consolidated financial statements of Wabash National Corporation (the “Company”) have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the accompanying condensed consolidated financial statements contain all material adjustments (consisting only of normal recurring adjustments) necessary to present fairly the consolidated financial position of the Company, its results of operations, and its cash flows. The condensed consolidated financial statements included herein should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	NEW ACCOUNTING PRONOUNCEMENTSIn June 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standard Update (“ASU”) 2016-13, “Financial Instruments - Credit Losses,” which introduced new guidance for an approach based on expected losses to estimate credit losses on certain types of financial instruments. It also modifies the impairment model for available-for-sale debt securities and provides for a simplified accounting model for purchased financial assets with credit deterioration since their origination. Instruments in scope include loans, held-to-maturity debt securities, and net investments in leases as well as reinsurance and trade receivables. In November 2018, the FASB issued ASU 2018-19, which clarifies that operating lease receivables are outside the scope of the new standard. The Company adopted the standard using the modified retrospective approach as required on January 1, 2020. The adoption of the new credit losses model did not have a material impact on the Company’s condensed consolidated financial statements.

REVENUE RECOGNITION

REVENUE RECOGNITION	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION The Company recognizes revenue from the sale of its products when obligations under the terms of a contract with our customers are satisfied; this occurs with the transfer of control of our products and replacement parts or throughout the completion of service work. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring promised goods or services to a customer and excludes all taxes collected from the customer. Shipping and handling fees are included in Net sales and the associated costs included in Cost of sales in the Condensed Consolidated Statements of Operations. For shipping and handling costs that take place after the transfer of control, the Company applies the practical expedient and treats such costs as a fulfillment cost. Incidental items that are immaterial in the context of the contract are recognized as expense. For performance obligations satisfied over time, which include certain equipment-related sales within our Diversified Products reportable segment that have no alternative use and contain an enforceable right to payment, as well as service work whereby the customer simultaneously receives and consumes the benefits provided, the Company recognizes revenue on the basis of the Company’s efforts or inputs to the satisfaction of these performance obligations, measured by actual total cost incurred to the total estimated costs for each project. Total revenue recognized over time was not material to the condensed consolidated financial statements for all periods presented. The Company has identified three separate and distinct performance obligations: 1) the sale of a trailer or equipment, 2) the sale of replacement parts, and 3) service work. For trailer, truck body, equipment, and replacement part sales, control is transferred and revenue is recognized from the sale upon shipment to or pick up by the customer in accordance with the contract terms. The Company does not have any material extended payment terms as payment is received shortly after the point of sale. Accounts receivable are recorded when the right to consideration becomes unconditional. The Company does have customers who pay for the product prior to the transfer of control which is recorded as customer deposits in Other accrued liabilities as shown in Note 10. Customer deposits are recognized as revenue when the Company performs its obligations under the contract and transfers control of the product.

GOODWILL IMPAIRMENT

GOODWILL IMPAIRMENT	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL IMPAIRMENT	GOODWILL IMPAIRMENT Goodwill As of December 31, 2019, goodwill allocated to our Commercial Trailer Products, Diversified Products (“DPG”), and Final Mile Products (“FMP”) segments was approximately $2.6 million, $140.7 million, and $167.7 million, respectively. Within the DPG segment, goodwill was allocated between the Tank Trailers and Process Systems reporting units in the amount of $98.4 million and $42.3 million, respectively. The Company did not perform in-line with expectations during the first quarter of 2020, partially as a result of the ongoing COVID-19 pandemic. In addition, subsequent to December 31, 2019, the Company’s share price and market capitalization declined. As a result, indicators of impairment were identified and the Company performed an interim quantitative assessment as of March 31, 2020, utilizing a combination of the income and market approaches, which were weighted evenly. The results of the quantitative analysis indicated the carrying value of the FMP and Tank Trailers reporting units exceeded their respective fair values and, accordingly, goodwill impairment charges of $95.8 million and $11.0 million, respectively, were recorded during the first quarter of 2020. The goodwill impairment charges, which are based on Level 3 fair value measurements, are included in Impairment and other, net in the Condensed Consolidated Statements of Operations. The Company considered whether there were any indicators of impairment during the three months ended September 30, 2020 and concluded there were none. For the period ended September 30, 2020, the changes in the carrying amounts of goodwill were as follows (in thousands): Commercial Trailer Products Diversified Products Final Mile Products Total Balance at December 31, 2018 Goodwill $ 4,288 $ 145,688 $ 167,715 $ 317,691 Accumulated impairment losses (1,663) (4,944) — (6,607) Net balance as of December 31, 2018 2,625 140,744 167,715 311,084 Impact of divestiture on goodwill — (4,944) — (4,944) Impact of divestiture on accumulated impairment losses — 4,944 — 4,944 Effects of foreign currency — (58) — (58) Balance as of December 31, 2019 Goodwill 4,288 140,686 167,715 312,689 Accumulated impairment losses (1,663) — — (1,663) Net balance as of December 31, 2019 2,625 140,686 167,715 311,026 Goodwill impairments — (10,971) (95,766) (106,737) Effects of foreign currency — 131 — 131 Balance at March 31, 2020 Goodwill 4,288 140,817 167,715 312,820 Accumulated impairment losses (1,663) (10,971) (95,766) (108,400) Net balance as of March 31, 2020 2,625 129,846 71,949 204,420 Goodwill impairments — — — — Effects of foreign currency — (2) — (2) Balance at June 30, 2020 Goodwill 4,288 140,815 167,715 312,818 Accumulated impairment losses (1,663) (10,971) (95,766) (108,400) Net balance as of June 30, 2020 2,625 129,844 71,949 204,418 Goodwill impairments — — — — Effects of foreign currency — (67) — (67) Balance at September 30, 2020 Goodwill 4,288 140,748 167,715 312,751 Accumulated impairment losses (1,663) (10,971) (95,766) (108,400) Net balance as of September 30, 2020 $ 2,625 $ 129,777 $ 71,949 $ 204,351

INVENTORIES, NET

INVENTORIES, NET	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
INVENTORIES, NET	INVENTORIES, NET Inventories are stated at the lower of cost, determined on either the first-in, first-out or average cost method, or net realizable value. Inventories, net of reserves, consist of the following components (in thousands): September 30, December 31, Raw materials and components $ 93,225 $ 105,332 Finished goods 85,559 58,224 Work in progress 13,257 14,269 Aftermarket parts 6,946 6,590 Used trailers 2,523 2,499 $ 201,510 $ 186,914

PREPAID EXPENSES AND OTHER

PREPAID EXPENSES AND OTHER	9 Months Ended
	Sep. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES AND OTHER	PREPAID EXPENSES AND OTHER Prepaid expenses and other current assets consist of the following (in thousands): September 30, December 31, Chassis converter pool agreements $ 11,213 $ 10,164 Assets held for sale 3,020 3,020 Income tax receivables 9,526 8,701 Insurance premiums & maintenance agreements 6,214 3,217 All other 14,561 16,120 $ 44,534 $ 41,222 Chassis converter pool agreements represent chassis transferred to the Company on a restricted basis by the manufacturer, who retains the sole authority to authorize commencement of work on the chassis and to make certain other decisions with respect to the chassis including the terms and pricing of sales to the manufacturer’s dealers. Assets held for sale are primarily related to the Company’s remaining retail location and unused land parcels, which are actively being marketed for sale. Insurance premiums and maintenance agreements are charged to expenses over the contractual life, which is generally one year or less. Additionally, prepaid expenses include contract assets related to contracts for which the Company recognizes revenue over time as services are completed. There is no restricted cash included in prepaid expenses and other current assets as of September 30, 2020 and December 31, 2019.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
DEBT	DEBT Long-term debt consists of the following (in thousands): September 30, December 31, Senior notes due 2025 $ 315,000 $ 325,000 Term loan credit agreement due 2027 150,000 135,228 465,000 460,228 Less: unamortized discount and fees (6,278) (4,842) Less: current portion (1,500) — $ 457,222 $ 455,386 Senior Notes On September 26, 2017, the Company issued Senior Notes due 2025 (the “Senior Notes”) with an aggregate principal amount of $325 million. The Senior Notes bear interest at the rate of 5.50% per annum from the date of issuance, and pay interest semi-annually in cash on April 1 and October 1 of each year. The Company used the net proceeds of $318.9 million from the sale of the Senior Notes to finance a portion of the acquisition of Supreme and to pay related fees and expenses. The Senior Notes are guaranteed on a senior unsecured basis by all direct and indirect existing and future domestic restricted subsidiaries, subject to certain restrictions. The Senior Notes and related guarantees are the Company’s and the guarantors’ general unsecured senior obligations and are subordinate to all of the Company’s and the guarantors’ existing and future secured debt to the extent of the assets securing that secured obligation. In addition, the Senior Notes are structurally subordinate to any existing and future debt of any of the Company’s subsidiaries that are not guarantors, to the extent of the assets of those subsidiaries. The Senior Notes will mature on October 1, 2025. The indenture for the Senior Notes restricts the Company’s ability and the ability of certain of its subsidiaries, subject to certain exceptions and qualifications, to: (i) incur additional indebtedness; (ii) pay dividends or make other distributions in respect of, or repurchase or redeem, its capital stock or with respect to any other interest or participation in, or measured by, its profits; (iii) make loans and certain investments; (iv) sell assets; (v) create or incur liens; (vi) enter into transactions with affiliates; and (vii) consolidate, merge or sell all or substantially all of its assets. The indenture for the Senior Notes contains customary events of default and covenants. As of September 30, 2020, the Company was in compliance with all covenants, and while the duration and severity of the ongoing COVID-19 pandemic remain unknown at this time, the Company does not anticipate that the pandemic will impact its ability to remain in compliance with these covenants. Contractual coupon interest expense and accretion of discount and fees for the Senior Notes for the three- and nine-month periods ended September 30, 2020 and 2019, was $4.6 million and $13.9 million, respectively. Contractual coupon interest expense and accretion of discount and fees are included in Interest expense on the Company’s Condensed Consolidated Statements of Operations. During the third quarter of 2020, the Company repaid $10.0 million of the Senior Notes utilizing net proceeds from the closure of the new term loan credit agreement, which is described in more detail below. Revolving Credit Agreement On December 21, 2018, the Company entered into the Second Amended and Restated Credit Agreement among the Company, certain of its subsidiaries as borrowers (together with the Company, the “Borrowers”), the lenders from time to time party thereto, and Wells Fargo Capital Finance, LLC as the administrative agent (the “Revolver Agent”), which amended and restated the Company’s existing amended and restated revolving credit agreement, dated as of May 8, 2012. On September 28, 2020, the Company entered into the First Amendment to Second Amended and Restated Credit Agreement (together with the Second Amended and Restated Credit Agreement, the “Revolving Credit Agreement” or “Revolving Facility”) among the Company, certain of its subsidiaries party thereto, the lenders party thereto, and the Revolver Agent. The Amendment primarily made conforming changes to the provisions in the Revolving Credit Agreement to reflect modifications made under the new term loan credit agreement, which is described in more detail below. The Revolving Credit Agreement is guaranteed by certain subsidiaries of the Company (the “Revolver Guarantors”) and is secured by (i) first priority security interests in substantially all personal property of the Borrowers and the Revolver Guarantors, consisting of accounts receivable, inventory, cash, deposit and securities accounts and any cash or other assets in such accounts and, to the extent evidencing or otherwise related to such property, all general intangibles, licenses, intercompany debt, letter of credit rights, commercial tort claims, chattel paper, instruments, supporting obligations, documents and payment intangibles (collectively, the “Revolver Priority Collateral”), and (ii) second-priority liens on and security interests in (A) equity interests of each direct subsidiary held by the Borrowers and each Revolver Guarantor, and (B) substantially all other tangible and intangible assets of the Borrowers and the Revolver Guarantors, excluding real property (the “Term Priority Collateral”). The Revolving Credit Agreement has a scheduled maturity date of December 21, 2023, subject to certain springing maturity events. Under the Revolving Credit Agreement, the lenders agree to make available to the Company a $175 million revolving credit facility. The Company has the option to increase the total commitment under the facility to up to $275 million, subject to certain conditions. Subject to availability, the Revolving Credit Agreement provides for a letter of credit subfacility in an amount not in excess of $15 million, and allows for swingline loans in an amount not in excess of $17.5 million. Outstanding borrowings under the Revolving Credit Agreement will bear interest at an annual rate, at the Borrowers’ election, equal to (i) London Interbank Offer Rate (“LIBOR”) plus a margin ranging from 1.25% to 1.75% or (ii) a base rate plus a margin ranging from 0.25% to 0.75%, in each case depending upon the monthly average excess availability under the revolving loan facility. The Borrowers are required to pay a monthly unused line fee equal to 0.20% times the average daily unused availability along with other customary fees and expenses thereunder. The Revolving Credit Agreement contains various customary covenants. In addition, the Company will be required to maintain a minimum fixed charge coverage ratio of not less than 1.0 to 1.0 as of the end of any period of 12 fiscal months when excess availability under the Revolving Credit Agreement is less than 10% of the total revolving commitment. During the three-month period ended March 31, 2020, the Company drew $45.0 million under the Revolving Credit Agreement as a precautionary measure in response to the uncertainty caused by the COVID-19 pandemic. During the second quarter of 2020, the Company repaid the $45.0 million in outstanding borrowings, and during the third quarter of 2020 and as of September 30, 2020 there were no amounts outstanding under the Revolving Facility. The Company was in compliance with all covenants as of September 30, 2020, and while the duration and severity of the ongoing COVID-19 pandemic remain unknown at this time, the Company does not anticipate that the pandemic will impact its ability to remain in compliance with these covenants. For the three-month period ended September 30, 2020, the Company paid no interest under the Revolving Credit Agreement. For the nine-month period ended September 30, 2020, the Company paid approximately $0.2 million of interest. During the three- and nine-month periods ended September 30, 2019, the Company had no outstanding borrowings under the Revolving Credit Agreement and paid no interest. The Company’s liquidity position, defined as cash on hand and available borrowing capacity on the Revolving Facility, amounted to $383.4 million as of September 30, 2020, an increase of 24% from $308.1 million as of December 31, 2019. New and Old Term Loan Credit Agreements On September 28, 2020, the Company entered into a Term Loan Credit Agreement (the “New Term Loan Credit Agreement”) among the Company, the lenders from time to time party thereto, and Wells Fargo Bank, National Association, as the administrative agent (the “Term Agent”), providing for a senior secured term loan facility of $150 million that was advanced at closing. The New Term Loan Credit Agreement refinanced and replaced that certain Term Loan Credit Agreement, dated as of May 8, 2012 (as amended, restated, supplemented or otherwise modified from time to time, the “Old Term Loan Credit Agreement”), among the Company, the lenders party thereto and Morgan Stanley Senior Funding, Inc., as the administrative agent. The New Term Loan Credit Agreement is guaranteed by certain subsidiaries of the Company (the “Term Loan Guarantors”) and is secured by (i) second priority security interests (subject only to the liens securing the Revolving Credit Agreement, customary permitted liens, and certain other permitted liens) in substantially all personal property of the Company and the Term Loan Guarantors, consisting of accounts receivable, inventory, cash, deposit and securities accounts and any cash or other assets in such accounts and, to the extent evidencing or otherwise related to such property, all general intangibles, licenses, intercompany debt, letter of credit rights, commercial tort claims, chattel paper, instruments, supporting obligations, documents and payment intangibles, and (ii) first priority security interests (subject only to customary permitted liens and certain other permitted liens) in (A) subject to certain limitations, equity interests of each direct subsidiary held by the Company and each Term Loan Guarantor, and (B) substantially all other tangible and intangible assets of the Company and the Term Loan Guarantors, including equipment, general intangibles, intercompany notes, investment property and intellectual property, but excluding real property. The respective priorities of the security interests securing the New Term Loan Credit Agreement and the Revolving Credit Agreement are governed by an Intercreditor Agreement, dated as of September 28, 2020, between the Term Agent and the Revolver Agent (the “Intercreditor Agreement”). The New Term Loan Credit Agreement has a scheduled maturity date of September 28, 2027. The loans under the New Term Loan Credit Agreement amortize in quarterly installments equal to 0.25% of the original principal amount of the term loans issued thereunder, with the balance payable at maturity. Outstanding borrowings under the New Term Loan Credit Agreement bear interest at a rate, at the Company’s election, equal to (i) LIBOR (subject to a floor of 0.75% per annum) plus a margin of 3.25% per annum or (ii) a base rate plus a margin of 2.25% per annum. The New Term Loan Credit Agreement contains customary covenants limiting the ability of the Company and its subsidiaries to, among other things, pay cash dividends, incur debt or liens, redeem or repurchase stock, enter into transactions with affiliates, merge, dissolve, pay off subordinated indebtedness, make investments and dispose of assets. As of September 30, 2020, the Company was in compliance with all covenants, and while the duration and severity of the ongoing COVID-19 pandemic remain unknown at this time, the Company does not anticipate that the pandemic will impact its ability to remain in compliance with these covenants. Subject to the terms of the Intercreditor Agreement, if the covenants under the New Term Loan Credit Agreement are breached, the lenders may, subject to various customary cure rights, require the immediate payment of all amounts outstanding and foreclose on collateral. Other customary events of default in the New Term Loan Credit Agreement include, without limitation, failure to pay obligations when due, initiation of insolvency proceedings, defaults on certain other indebtedness, and the incurrence of certain judgments that are not stayed, satisfied, bonded or discharged within 60 days. The Company used the net proceeds of $148.5 million from the New Term Loan Credit Agreement to pay off the outstanding principal under the Old Term Loan Credit Agreement of $135.2 million, repay a portion of its outstanding Senior Notes, and pay related fees and expenses. In connection with the pay off of the Old Term Loan Credit Agreement (specifically for those lenders that did not participate in the New Term Loan Credit Agreement) and partial repayment of the outstanding Senior Notes, the Company recognized a loss on debt extinguishment totaling approximately $0.2 million, which is included in Other, net in the Condensed Consolidated Statements of Operations. As of September 30, 2020, the Company had $150.0 million outstanding under the New Term Loan Credit Agreement, of which $1.5 million was classified as current on the Company’s Condensed Consolidated Balance Sheets. There was no interest paid under the New Term Loan Credit Agreement during the third quarter of 2020. For the three-month period ended September 30, 2020, under the Old Term Loan Credit Agreement the Company paid interest of $0.9 million and repaid the outstanding principal of $135.2 million using the net proceeds from the New Term Loan Credit Agreement. For the three-month period ended September 30, 2019, the Company paid interest of $1.9 million and made principal payments of $15.0 million under the Old Term Loan Credit Agreement. For the nine-month period ended September 30, 2020, the Company paid interest of $3.3 million under the Old Term Loan Credit Agreement and during the third quarter repaid the outstanding principal of $135.2 million using the net proceeds from the New Term Loan Credit Agreement. For the nine-month period ended September 30, 2019, the Company paid interest of $6.3 million and made principal payments of $30.5 million. For each three-month period ended September 30, 2020 and 2019, the Company incurred charges of less than $0.1 million for amortization of fees and original issuance discount. For the nine-month periods ended September 30, 2020 and 2019, the Company incurred charges of $0.1 million and $0.2 million, respectively, for amortization of fees and original issuance discount. Amortization of fees and original issuance discount are included in Interest expense in the Condensed Consolidated Statements of Operations.

FINANCIAL DERIVATIVE INSTRUMENT

FINANCIAL DERIVATIVE INSTRUMENTS	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL DERIVATIVE INSTRUMENTS	FINANCIAL DERIVATIVE INSTRUMENTS Commodity Pricing Risk As of September 30, 2020, the Company was party to commodity swap contracts for specific commodities with notional amounts of approximately $48.9 million. The Company uses commodity swap contracts to mitigate the risks associated with fluctuations in commodity prices impacting its cash flows related to inventory purchases from suppliers. The Company does not hedge all commodity price risk. At inception, the Company designated the commodity swap contracts as cash flow hedges. The contracts mature at specified monthly settlement dates and will be recognized into earnings through January 2022. The effective portion of the hedging transaction is recognized in Accumulated Other Comprehensive Income (“AOCI”) and transferred to earnings when the forecasted hedged transaction takes place or when the forecasted hedged transaction is no longer probable to occur. Financial Statement Presentation As of September 30, 2020 and December 31, 2019, the fair value carrying amount of the Company’s derivative instruments were recorded as follows (in thousands): Asset / (Liability) Derivatives Balance Sheet Caption September 30, December 31, Derivatives designated as hedging instruments Commodity swap contracts Prepaid expenses and other $ 467 $ 1,290 Commodity swap contracts Accounts payable and Other accrued liabilities (1,158) (3,216) Total derivatives designated as hedging instruments $ (691) $ (1,926) The following table summarizes the gain or loss recognized in AOCI as of September 30, 2020 and December 31, 2019 and the amounts reclassified from AOCI into earnings for the three and nine months ended September 30, 2020 and 2019 (in thousands): Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion, net of tax) Location of Gain (Loss) Reclassified from AOCI into Earnings Amount of Gain (Loss) September 30, December 31, Three Months Ended Nine Months Ended 2020 2019 2020 2019 Derivatives instruments Commodity swap contracts $ (1,213) $ (2,112) Cost of sales $ (2,696) $ (424) $ (6,879) $ (1,070)

LEASES

LEASES	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
LEASES	LEASES The Company records a right-of-use ("ROU") asset and lease liability for substantially all leases for which it is a lessee, in accordance with ASC 842. Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. The Company has no significant lease agreements in place for which the Company is a lessor. At inception of a contract, the Company considers all relevant facts and circumstances to assess whether or not the contract represents a lease by determining whether or not the contract conveys the right to control the use of an identified asset, either explicit or implicit, for a period of time in exchange for consideration. The Company leases certain industrial spaces, office spaces, land, and equipment. Some leases include one or more options to renew, with renewal terms that can extend the lease term from generally one Leased assets and liabilities included within the Condensed Consolidated Balance Sheets consist of the following (in thousands): Classification September 30, 2020 December 31, 2019 Right-of-Use Assets Operating Other assets $ 11,987 $ 14,246 Finance Property, plant and equipment, net of depreciation 2,837 2,945 Total leased ROU assets $ 14,824 $ 17,191 Liabilities Current Operating Other accrued liabilities $ 4,346 $ 4,369 Finance Current portion of finance lease obligations 342 327 Noncurrent Operating Non-current liabilities 7,883 10,041 Finance Finance lease obligations 119 378 Total lease liabilities $ 12,690 $ 15,115 Lease costs included in the Condensed Consolidated Statements of Operations consist of the following (in thousands): Classification Three Months Ended Three Months Ended Operating lease cost Cost of sales, selling expenses and general and administrative expense $ 1,217 $ 1,200 Finance lease cost Amortization of ROU leased assets Depreciation and amortization within Cost of sales 36 36 Interest on lease liabilities Interest expense 11 16 Net lease cost $ 1,264 $ 1,252 Classification Nine Months Ended Nine Months Ended Operating lease cost Cost of sales, selling expenses and general and administrative expense $ 3,844 $ 3,398 Finance lease cost Amortization of ROU leased assets Depreciation and amortization 108 108 Interest on lease liabilities Interest expense 44 51 Net lease cost $ 3,996 $ 3,557 Maturity of the Company’s lease liabilities as of September 30, 2020 is as follows (in thousands): Operating Leases Finance Leases Total 2020 (remainder) $ 1,290 $ 90 $ 1,380 2021 4,580 361 4,941 2022 3,032 30 3,062 2023 2,183 — 2,183 2024 1,085 — 1,085 Thereafter 1,258 — 1,258 Total lease payments $ 13,428 $ 481 $ 13,909 Less: interest 1,199 20 Present value of lease payments $ 12,229 $ 461 As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. Remaining lease term and discount rates are as follows: September 30, 2020 December 31, 2019 Weighted average remaining lease term (years) Operating leases 3.7 4.0 Finance leases 1.3 2.1 Weighted average discount rate Operating leases 5.06 % 5.17 % Finance leases 6.16 % 6.16 % Lease costs included in the Condensed Consolidated Statements of Cash Flows are as follows (in thousands): Nine Months Ended Nine Months Ended Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 3,820 $ 3,271 Operating cash flows from finance leases $ 27 $ 42 Financing cash flows from finance leases $ 244 $ 230
LEASES	LEASES The Company records a right-of-use ("ROU") asset and lease liability for substantially all leases for which it is a lessee, in accordance with ASC 842. Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. The Company has no significant lease agreements in place for which the Company is a lessor. At inception of a contract, the Company considers all relevant facts and circumstances to assess whether or not the contract represents a lease by determining whether or not the contract conveys the right to control the use of an identified asset, either explicit or implicit, for a period of time in exchange for consideration. The Company leases certain industrial spaces, office spaces, land, and equipment. Some leases include one or more options to renew, with renewal terms that can extend the lease term from generally one Leased assets and liabilities included within the Condensed Consolidated Balance Sheets consist of the following (in thousands): Classification September 30, 2020 December 31, 2019 Right-of-Use Assets Operating Other assets $ 11,987 $ 14,246 Finance Property, plant and equipment, net of depreciation 2,837 2,945 Total leased ROU assets $ 14,824 $ 17,191 Liabilities Current Operating Other accrued liabilities $ 4,346 $ 4,369 Finance Current portion of finance lease obligations 342 327 Noncurrent Operating Non-current liabilities 7,883 10,041 Finance Finance lease obligations 119 378 Total lease liabilities $ 12,690 $ 15,115 Lease costs included in the Condensed Consolidated Statements of Operations consist of the following (in thousands): Classification Three Months Ended Three Months Ended Operating lease cost Cost of sales, selling expenses and general and administrative expense $ 1,217 $ 1,200 Finance lease cost Amortization of ROU leased assets Depreciation and amortization within Cost of sales 36 36 Interest on lease liabilities Interest expense 11 16 Net lease cost $ 1,264 $ 1,252 Classification Nine Months Ended Nine Months Ended Operating lease cost Cost of sales, selling expenses and general and administrative expense $ 3,844 $ 3,398 Finance lease cost Amortization of ROU leased assets Depreciation and amortization 108 108 Interest on lease liabilities Interest expense 44 51 Net lease cost $ 3,996 $ 3,557 Maturity of the Company’s lease liabilities as of September 30, 2020 is as follows (in thousands): Operating Leases Finance Leases Total 2020 (remainder) $ 1,290 $ 90 $ 1,380 2021 4,580 361 4,941 2022 3,032 30 3,062 2023 2,183 — 2,183 2024 1,085 — 1,085 Thereafter 1,258 — 1,258 Total lease payments $ 13,428 $ 481 $ 13,909 Less: interest 1,199 20 Present value of lease payments $ 12,229 $ 461 As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. Remaining lease term and discount rates are as follows: September 30, 2020 December 31, 2019 Weighted average remaining lease term (years) Operating leases 3.7 4.0 Finance leases 1.3 2.1 Weighted average discount rate Operating leases 5.06 % 5.17 % Finance leases 6.16 % 6.16 % Lease costs included in the Condensed Consolidated Statements of Cash Flows are as follows (in thousands): Nine Months Ended Nine Months Ended Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 3,820 $ 3,271 Operating cash flows from finance leases $ 27 $ 42 Financing cash flows from finance leases $ 244 $ 230

OTHER ACCRUED LIABILITIES

OTHER ACCRUED LIABILITIES	9 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
OTHER ACCRUED LIABILITIES	OTHER ACCRUED LIABILITIES The following table presents the major components of Other accrued liabilities (in thousands): September 30, December 31, Warranty $ 20,756 $ 22,575 Chassis converter pool agreements 11,213 10,164 Payroll and related taxes 15,231 25,263 Customer deposits 38,257 19,324 Self-insurance 12,937 12,934 Accrued interest 8,732 4,696 Operating lease obligations 4,346 4,369 Accrued taxes 4,142 10,344 All other 16,942 14,561 $ 132,556 $ 124,230 The following table presents the changes in the product warranty accrual included in Other accrued liabilities (in thousands): 2020 2019 Balance as of January 1 $ 22,575 $ 22,247 Provision for warranties issued in current year 3,132 5,253 Payments (4,951) (3,158) Balance as of September 30 $ 20,756 $ 24,342 The Company offers a limited warranty for its products with a coverage period that ranges between one ® trailer panels is 10 years. The Company passes through component manufacturers’ warranties to our customers. The Company’s policy is to accrue the estimated cost of warranty coverage at the time of the sale.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The Company’s fair value measurements are based upon a three-level valuation hierarchy. These valuation techniques are based upon the transparency of inputs (observable and unobservable) to the valuation of an asset or liability as of the measurement date. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs create the following fair value hierarchy: ▪ Level 1 — Valuation is based on quoted prices for identical assets or liabilities in active markets; ▪ Level 2 — Valuation is based on quoted prices for similar assets or liabilities in active markets, or other inputs that are observable for the asset or liability, either directly or indirectly, for the full term of the financial instrument; and ▪ Level 3 — Valuation is based upon other unobservable inputs that are significant to the fair value measurement. Recurring Fair Value Measurements The Company maintains a non-qualified deferred compensation plan which is offered to senior management and other key employees. The amount owed to participants is an unfunded and unsecured general obligation of the Company. Participants are offered various investment options with which to invest the amount owed to them, and the plan administrator maintains a record of the liability owed to participants by investment. To minimize the impact of the change in market value of this liability, the Company has elected to purchase a separate portfolio of investments through the plan administrator similar to those chosen by the participant. The investments purchased by the Company include mutual funds, which are classified as Level 1, and life-insurance contracts valued based on the performance of underlying mutual funds, which are classified as Level 2. Additionally, upon the Company’s acquisition of Supreme in 2017, the Company acquired a pool of investments made by a wholly owned captive insurance subsidiary. These investments are comprised of mutual funds, which are classified as Level 1. The fair value of the Company’s derivatives is estimated with a market approach using third-party pricing services, which have been corroborated with data from active markets or broker quotes. Fair value measurements and the fair value hierarchy level for the Company’s assets and liabilities measured at fair value on a recurring basis, are shown below (in thousands): Frequency Asset / (Liability) Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs September 30, 2020 Commodity swap contracts Recurring (691) — (691) — Mutual funds Recurring 5,085 5,085 — — Life-insurance contracts Recurring 15,864 — 15,864 — December 31, 2019 Commodity swap contracts Recurring (1,926) — (1,926) — Mutual funds Recurring 7,367 7,367 — — Life-insurance contracts Recurring 15,072 — 15,072 — Estimated Fair Value of Debt The estimated fair value of debt at September 30, 2020 consists primarily of the Senior Notes due 2025 and borrowings under the New Term Loan Credit Agreement and Old Term Loan Credit Agreement (see Note 7). The fair value of the Senior Notes due 2025, New Term Loan Credit Agreement, and Old Term Loan Credit Agreement are based upon third party pricing sources, which generally do not represent daily market activity or represent data obtained from an exchange, and are classified as Level 2. The interest rates on the Company’s borrowings under the Revolving Facility are adjusted regularly to reflect current market rates and thus when any amounts are outstanding carrying value approximates fair value for these borrowings. The Company’s carrying and estimated fair value of debt at September 30, 2020 and December 31, 2019 were as follows (in thousands): September 30, 2020 December 31, 2019 Carrying Fair Value Carrying Fair Value Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Instrument Senior Notes due 2025 $ 311,191 $ — $ 312,747 $ — $ 320,572 $ — $ 320,572 $ — New and Old Term Loan Credit Agreements 147,531 — 146,978 — 134,814 — 134,814 — $ 458,722 $ — $ 459,725 $ — $ 455,386 $ — $ 455,386 $ — The fair value of debt is based on current public market prices for disclosure purposes only. Unrealized gains or losses are not recognized in the financial statements as long-term debt is presented at carrying value, net of unamortized premium or discount and unamortized deferred financing costs.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES As of September 30, 2020, the Company was named as a defendant or was otherwise involved in numerous legal proceedings and governmental examinations, in connection with the conduct of its business activities, in various jurisdictions, both in the United States and internationally. On the basis of information currently available to it, management does not believe that existing proceedings and investigations will have a material impact on our consolidated financial condition or liquidity if determined in a manner adverse to the Company. However, such matters are unpredictable, and we could incur judgments or enter into settlements for current or future claims that could materially and adversely affect our financial statements. Costs associated with the litigation and settlements of legal matters are reported within General and administrative expenses in the Condensed Consolidated Statements of Operations. Environmental Disputes In August 2014, the Company received notice as a potentially responsible party (“PRP”) by the South Carolina Department of Health and Environmental Control (the “DHEC”) pertaining to the Philip Services Site located in Rock Hill, South Carolina pursuant to the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”) and corresponding South Carolina statutes. PRPs include parties identified through manifest records as having contributed to deliveries of hazardous substances to the Philip Services Site between 1979 and 1999. The DHEC’s allegation that the Company was a PRP arises out of four manifest entries in 1989 under the name of a company unaffiliated with Wabash National (or any of its former or current subsidiaries) that purport to be delivering a de minimis amount of hazardous waste to the Philip Services Site “c/o Wabash National Corporation.” As such, the Philip Services Site PRP Group (the “PRP Group”) notified Wabash in August 2014 that it was offering the Company the opportunity to resolve any liabilities associated with the Philip Services Site by entering into a Cash Out and Reopener Settlement Agreement (the “Settlement Agreement”) with the PRP Group, as well as a Consent Decree with the DHEC. The Company has accepted the offer from the PRP Group to enter into the Settlement Agreement and Consent Decree, while reserving its rights to contest its liability for any deliveries of hazardous materials to the Philips Services Site. The requested settlement payment is immaterial to the Company’s financial conditions or operations, and as a result, if the Settlement Agreement and Consent Decree are finalized, the payment to be made by the Company thereunder is not expected to have a material adverse effect on the Company’s financial condition or results of operations. On November 13, 2019, the Company received a notice that it was considered one of several PRPs by the Indiana Department of Environmental Management (“IDEM”) under CERCLA and state law related to substances found in soil and groundwater at a property located at 817 South Earl Avenue, Lafayette, Indiana (the “Site”). The Company has never owned or operated the Site, but the Site is near certain of the Company’s owned properties. The Company has agreed to implement a limited work plan to further investigate the source of the contamination at the Site and has worked with IDEM and other PRPs to finalize the terms of the work plan. The Company submitted its initial site investigation report to IDEM during the third quarter of 2020, indicating that the data collected by the Company’s consultant confirmed that the Company’s properties are not the source of contamination at the Site. As of September 30, 2020, based on the information available, the Company does not expect this matter to have a material adverse effect on its financial condition or results of operations. Chassis Converter Pool Agreements The Company, through Supreme, obtains most vehicle chassis for its specialized vehicle products directly from the chassis manufacturers under converter pool agreements. Chassis are obtained from the manufacturers based on orders from customers, and in some cases, for unallocated orders. The agreements generally state that the manufacturer will provide a supply of chassis to be maintained at the Company’s facilities with the condition that we will store such chassis and will not move, sell, or otherwise dispose of such chassis except under the terms of the agreement. In addition, the manufacturer typically retains the sole authority to authorize commencement of work on the chassis and to make certain other decisions with respect to the chassis including the terms and pricing of sales of the chassis to the manufacturer’s dealers. The manufacturer also does not transfer the certificate of origin to the Company nor permit the Company to sell or transfer the chassis to anyone other than the manufacturer (for ultimate resale to a dealer). Although the Company is party to related finance agreements with manufacturers, the Company has not historically settled, nor expects to in the future settle, any related obligations in cash. Instead, the obligation is settled by the manufacturer upon reassignment of the chassis to an accepted dealer, and the dealer is invoiced for the chassis by the manufacturer. Accordingly, as of September 30, 2020, the Company’s outstanding chassis converter pool with the manufacturer totaled $11.2 million and has included this financing agreement on the Company’s Condensed Consolidated Balance Sheets within Prepaid expenses and other and Other accrued liabilities . All other chassis programs through its Supreme subsidiary are handled as consigned inventory belonging to the manufacturer and totaled approximately $1.0 million. Under these agreements, if the chassis is not delivered to a customer within a specified time frame the Company is required to pay a finance or storage charge on the chassis. Additionally, the Company receives finance support funds from manufacturers when the chassis are assigned into the Company’s chassis pool. Typically, chassis are converted and delivered to customers within 90 days of the receipt of the chassis by the Company.

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER SHARE	NET INCOME (LOSS) PER SHARE Basic earnings per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted earnings per share is determined based on the weighted average number of common shares outstanding during the period combined with the incremental average common shares that would have been outstanding assuming the conversion of all potentially dilutive common shares into common shares as of the earliest date possible. The calculation of basic and diluted net income (loss) per share is determined using net income (loss) applicable to common stockholders as the numerator and the number of shares included in the denominator as shown below (in thousands, except per share amounts). Due to the net loss applicable to common stockholders for the nine months ended September 30, 2020, no securities had a dilutive impact for this period. Three Months Ended Nine Months Ended 2020 2019 2020 2019 Basic net income (loss) per share: Net income (loss) applicable to common stockholders $ 3,887 $ 25,460 $ (102,906) $ 71,200 Weighted average common shares outstanding 52,912 54,413 52,980 54,975 Basic net income (loss) per share $ 0.07 $ 0.47 $ (1.94) $ 1.30 Diluted net income (loss) per share: Net income (loss) applicable to common stockholders $ 3,887 $ 25,460 $ (102,906) $ 71,200 Weighted average common shares outstanding 52,912 54,413 52,980 54,975 Dilutive stock options and restricted stock 468 606 — 527 Diluted weighted average common shares outstanding 53,380 55,019 52,980 55,502 Diluted net income (loss) per share $ 0.07 $ 0.46 $ (1.94) $ 1.28

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATIONThe Company recognizes all share-based payments based upon their fair value. The Company grants restricted stock units subject to specific service, performance, and/or market conditions. The Company’s policy is to recognize expense for awards that have service conditions only subject to graded vesting using the straight-line attribution method. The fair value of service and performance based units is based on the market price of a share of underlying common stock at the date of grant. The fair value of the market based units is based on a lattice valuation model. The amount of compensation costs related to restricted stock units and performance units not yet recognized was $13.2 million at September 30, 2020, for which the expense will be recognized through 2023.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Share Repurchase Program In November 2018, the Company announced that the Board of Directors approved the repurchase of an additional $100 million in shares of common stock over a three-year period. This authorization was an increase to the previous $100 million repurchase programs approved in February 2017 and February 2016. The repurchase program is set to expire on February 28, 2022. Stock repurchases under this program may be made in the open market or in private transactions at times and in amounts determined by the Company. As of September 30, 2020, $60.2 million remained available under the program. Common and Preferred Stock The Board of Directors has the authority to issue common and unclassed preferred stock of up to 200 million shares and 25 million shares, respectively, with par value of $0.01 per share, as well as to fix dividends, voting and conversion rights, redemption provisions, liquidation preferences and other rights and restrictions. Accumulated Other Comprehensive Income Changes in AOCI by component, net of tax, for the nine months ended September 30, 2020 are summarized as follows (in thousands): Foreign Currency Translation Derivative Instruments Total Balances at December 31, 2019 $ (1,866) $ (2,112) $ (3,978) Net unrealized gains (losses) arising during the period (a) (1,636) (5,217) (6,853) Less: Net realized gains (losses) reclassified to net (loss) income (b) — (1,334) (1,334) Net change during the period (1,636) (3,883) (5,519) Balances at March 31, 2020 (3,502) (5,995) (9,497) Net unrealized gains (losses) arising during the period (c) 318 470 788 Less: Net realized gains (losses) reclassified to net income (d) — (1,794) (1,794) Net change during the period 318 2,264 2,582 Balances at June 30, 2020 (3,184) (3,731) (6,915) Net unrealized gains (losses) arising during the period (e) 262 502 764 Less: Net realized gains (losses) reclassified to net income (f) — (2,016) (2,016) Net change during the period 262 2,518 2,780 Balances at September 30, 2020 $ (2,922) $ (1,213) $ (4,135) ————————— (a) Derivative instruments net of $1,759 thousand of tax benefit for the three months ended March 31, 2020. (b) Derivative instruments net of $451 thousand of tax benefit for the three months ended March 31, 2020. (c) Derivative instruments net of $158 thousand of tax liability for the three months ended June 30, 2020. (d) Derivative instruments net of $604 thousand of tax benefit for the three months ended June 30, 2020. (e) Derivative instruments net of $169 thousand of tax liability for the three months ended September 30, 2020. (f) Derivative instruments net of $680 thousand of tax benefit for the three months ended September 30, 2020. Changes in AOCI by component, net of tax, for the nine months ended September 30, 2019 are summarized as follows (in thousands): Foreign Currency Translation Derivative Instruments Total Balances at December 31, 2018 $ (2,578) $ (765) $ (3,343) Net unrealized gains (losses) arising during the period (g) 298 (939) (641) Less: Net realized gains (losses) reclassified to net income (h) — (125) (125) Net change during the period 298 (814) (516) Balances at March 31, 2019 (2,280) (1,579) (3,859) Net unrealized gains (losses) arising during the period (i) (115) (279) (394) Less: Net realized gains (losses) reclassified to net income (j) — (357) (357) Net change during the period (115) 78 (37) Balances at June 30, 2019 (2,395) (1,501) (3,896) Net unrealized gains (losses) arising during the period (k) (463) (854) (1,317) Less: Net realized gains (losses) reclassified to net income (l) — (318) (318) Net change during the period (463) (536) (999) Balances at September 30, 2019 $ (2,858) $ (2,037) $ (4,895) ————————— (g) Derivative instruments net of $308 thousand of tax benefit for the three months ended March 31, 2019. (h) Derivative instruments net of $42 thousand of tax benefit for the three months ended March 31, 2019. (i) Derivative instruments net of $93 thousand of tax benefit for the three months ended June 30, 2019. (j) Derivative instruments net of $121 thousand of tax benefit for the three months ended June 30, 2019. (k) Derivative instruments net of $288 thousand of tax benefit for the three months ended September 30, 2019. (l) Derivative instruments net of $106 thousand of tax benefit for the three months ended September 30, 2019.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES On March 27, 2020, the United States enacted the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) in response to the COVID-19 pandemic. Certain provisions of the legislation had a significant impact on the expected annual effective tax rate, income tax payable, and deferred income tax positions of the Company for the three- and nine- month periods ended September 30, 2020. The Company continues to evaluate the provisions of the CARES Act. For the three months ended September 30, 2020, the Company recognized an income tax benefit of $1.3 million compared to income tax expense of $7.4 million for the same period in the prior year. The effective tax rate for this period was 49.4% compared to 22.6% for the same period in the prior year. The Company recognized an income tax benefit of $10.3 million in the first nine months of 2020 compared to expense of $21.2 million for the same period in the prior year. The effective tax rates for the first nine months of 2020 and 2019 were 9.1% and 23.0%, respectively. For the first nine months of 2020, these effective tax rates differ from the US Federal statutory rate of 21% primarily due to the impact of state and local taxes, impairment of non-deductible goodwill, provisions related to the CARES Act, and discrete items incurred related to stock-based compensation. For the first nine months of 2019, these effective tax rates differ from the US Federal statutory rate of 21% primarily due to the impact of state and local taxes and discrete items related to research and development credits and stock-based compensation.

LONG-LIVED ASSETS

LONG-LIVED ASSETS	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
LONG-LIVED ASSETS	LONG-LIVED ASSETS During the second quarter of 2020, the Company sold property, plant, and equipment assets for proceeds totaling $2.7 million and recognized a net gain on sale of approximately $1.7 million. The net gain on sale is included in Impairment and other, net in the Condensed Consolidated Statements of Operations.

SEGMENTS

SEGMENTS	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
SEGMENTS	SEGMENTS a. Segment Reporting The Company manages its business in three segments: Commercial Trailer Products, Diversified Products, and Final Mile Products. The Commercial Trailer Products segment manufactures standard and customized van and platform trailers and other transportation related equipment for customers who purchase directly from the Company or through independent dealers. The Diversified Products segment, comprised of three strategic business units including, Tank Trailer, Process Systems and Composites, focuses on the Company’s commitment to expand its customer base, diversify its product offerings and revenues and extend its market leadership by leveraging its proprietary DuraPlate ® panel technology, drawing on its core manufacturing expertise and making available products that are complementary to truck and tank trailers and transportation equipment. The Final Mile Products segment manufactures truck bodies for customers in the final mile space. The accounting policies of the segments are the same as those described in the summary of significant accounting policies except that the Company evaluates segment performance based on income (loss) from operations. The Company has not allocated certain corporate related administrative costs, interest and income taxes included in the corporate and eliminations segment to the Company’s other reportable segments. The Company accounts for intersegment sales and transfers at cost plus a specified mark-up. Reportable segment information is as follows (in thousands): Three Months Ended September 30, 2020 Commercial Diversified Final Mile Corporate and Consolidated Net sales External customers $ 226,324 $ 69,912 $ 55,348 $ — $ 351,584 Intersegment sales 192 2,108 — (2,300) — Total net sales $ 226,516 $ 72,020 $ 55,348 $ (2,300) $ 351,584 Income (loss) from operations $ 19,659 $ 4,188 $ (4,442) $ (10,997) $ 8,408 Assets $ 326,908 $ 287,788 $ 387,489 $ 193,897 $ 1,196,082 Three Months Ended September 30, 2019 Commercial Diversified Final Mile Corporate and Consolidated Net sales External customers $ 380,062 $ 87,342 $ 113,504 $ — $ 580,908 Intersegment sales 282 5,839 — (6,121) — Total net sales $ 380,344 $ 93,181 $ 113,504 $ (6,121) $ 580,908 Income (loss) from operations $ 36,503 $ 7,183 $ 4,628 $ (10,045) $ 38,269 Assets $ 364,436 $ 327,343 $ 507,402 $ 179,422 $ 1,378,603 Nine Months Ended September 30, 2020 Commercial Diversified Final Mile Corporate and Consolidated Net sales External customers $ 709,516 $ 201,845 $ 166,450 $ — $ 1,077,811 Intersegment sales 229 17,084 — (17,313) — Total net sales $ 709,745 $ 218,929 $ 166,450 $ (17,313) $ 1,077,811 Income (loss) from operations $ 54,129 $ 360 $ (119,052) $ (31,086) $ (95,649) Assets $ 326,908 $ 287,788 $ 387,489 $ 193,897 $ 1,196,082 Nine Months Ended September 30, 2019 Commercial Diversified Final Mile Corporate and Consolidated Net sales External customers $ 1,120,608 $ 270,357 $ 349,170 $ — $ 1,740,135 Intersegment sales 1,645 19,498 — (21,143) — Total net sales $ 1,122,253 $ 289,855 $ 349,170 $ (21,143) $ 1,740,135 Income (loss) from operations $ 102,742 $ 24,138 $ 15,718 $ (31,593) $ 111,005 Assets $ 364,436 $ 327,343 $ 507,402 $ 179,422 $ 1,378,603 b. Product Information The Company offers products primarily in four general categories: (1) new trailers, (2) used trailers, (3) components, parts and service, and (4) equipment and other. The following table sets forth the major product categories and their percentage of consolidated net sales (dollars in thousands): Three Months Ended September 30, 2020 Commercial Diversified Final Mile Eliminations Consolidated New trailers $ 215,609 $ 37,455 $ — $ — $ 253,064 72.0 % Used trailers 522 1,439 — — 1,961 0.6 % Components, parts and service 9,371 16,607 3,103 (2,300) 26,781 7.6 % Equipment and other 1,014 16,519 52,245 — 69,778 19.8 % Total net sales $ 226,516 $ 72,020 $ 55,348 $ (2,300) $ 351,584 100.0 % Three Months Ended September 30, 2019 Commercial Diversified Final Mile Eliminations Consolidated New trailers $ 366,938 $ 51,697 $ — $ — $ 418,635 72.1 % Used trailers 86 417 — — 503 0.1 % Components, parts and service 10,039 23,790 4,302 (5,960) 32,171 5.5 % Equipment and other 3,281 17,277 109,202 (161) 129,599 22.3 % Total net sales $ 380,344 $ 93,181 $ 113,504 $ (6,121) $ 580,908 100.0 % Nine Months Ended September 30, 2020 Commercial Diversified Final Mile Eliminations Consolidated New trailers $ 672,263 $ 108,943 $ — $ — $ 781,206 72.5 % Used trailers 3,113 3,972 — — 7,085 0.7 % Components, parts and service 28,214 64,855 9,278 (17,284) 85,063 7.9 % Equipment and other 6,155 41,159 157,172 (29) 204,457 19.0 % Total net sales $ 709,745 $ 218,929 $ 166,450 $ (17,313) $ 1,077,811 100.0 % Nine Months Ended September 30, 2019 Commercial Diversified Final Mile Eliminations Consolidated New trailers $ 1,078,599 $ 146,821 $ — $ — $ 1,225,420 70.4 % Used trailers 236 1,743 — — 1,979 0.1 % Components, parts and service 30,994 88,681 12,165 (20,455) 111,385 6.4 % Equipment and other 12,424 52,610 337,005 (688) 401,351 23.1 % Total net sales $ 1,122,253 $ 289,855 $ 349,170 $ (21,143) $ 1,740,135 100.0 %

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSOn November 4, 2020, the Company closed on the sale of its remaining retail location, which was classified as held for sale as of September 30, 2020 as described in Note 6. The sale is expected to result in an immaterial gain.

NEW ACCOUNTING PRONOUNCEMENTS (

NEW ACCOUNTING PRONOUNCEMENTS (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	NEW ACCOUNTING PRONOUNCEMENTSIn June 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standard Update (“ASU”) 2016-13, “Financial Instruments - Credit Losses,” which introduced new guidance for an approach based on expected losses to estimate credit losses on certain types of financial instruments. It also modifies the impairment model for available-for-sale debt securities and provides for a simplified accounting model for purchased financial assets with credit deterioration since their origination. Instruments in scope include loans, held-to-maturity debt securities, and net investments in leases as well as reinsurance and trade receivables. In November 2018, the FASB issued ASU 2018-19, which clarifies that operating lease receivables are outside the scope of the new standard. The Company adopted the standard using the modified retrospective approach as required on January 1, 2020. The adoption of the new credit losses model did not have a material impact on the Company’s condensed consolidated financial statements.
REVENUE RECOGNITION	The Company recognizes revenue from the sale of its products when obligations under the terms of a contract with our customers are satisfied; this occurs with the transfer of control of our products and replacement parts or throughout the completion of service work. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring promised goods or services to a customer and excludes all taxes collected from the customer. Shipping and handling fees are included in Net sales and the associated costs included in Cost of sales

GOODWILL IMPAIRMENT (Tables)

GOODWILL IMPAIRMENT (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	For the period ended September 30, 2020, the changes in the carrying amounts of goodwill were as follows (in thousands): Commercial Trailer Products Diversified Products Final Mile Products Total Balance at December 31, 2018 Goodwill $ 4,288 $ 145,688 $ 167,715 $ 317,691 Accumulated impairment losses (1,663) (4,944) — (6,607) Net balance as of December 31, 2018 2,625 140,744 167,715 311,084 Impact of divestiture on goodwill — (4,944) — (4,944) Impact of divestiture on accumulated impairment losses — 4,944 — 4,944 Effects of foreign currency — (58) — (58) Balance as of December 31, 2019 Goodwill 4,288 140,686 167,715 312,689 Accumulated impairment losses (1,663) — — (1,663) Net balance as of December 31, 2019 2,625 140,686 167,715 311,026 Goodwill impairments — (10,971) (95,766) (106,737) Effects of foreign currency — 131 — 131 Balance at March 31, 2020 Goodwill 4,288 140,817 167,715 312,820 Accumulated impairment losses (1,663) (10,971) (95,766) (108,400) Net balance as of March 31, 2020 2,625 129,846 71,949 204,420 Goodwill impairments — — — — Effects of foreign currency — (2) — (2) Balance at June 30, 2020 Goodwill 4,288 140,815 167,715 312,818 Accumulated impairment losses (1,663) (10,971) (95,766) (108,400) Net balance as of June 30, 2020 2,625 129,844 71,949 204,418 Goodwill impairments — — — — Effects of foreign currency — (67) — (67) Balance at September 30, 2020 Goodwill 4,288 140,748 167,715 312,751 Accumulated impairment losses (1,663) (10,971) (95,766) (108,400) Net balance as of September 30, 2020 $ 2,625 $ 129,777 $ 71,949 $ 204,351

INVENTORIES, NET (Tables)

INVENTORIES, NET (Tables)	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories, net of reserves, consist of the following components (in thousands): September 30, December 31, Raw materials and components $ 93,225 $ 105,332 Finished goods 85,559 58,224 Work in progress 13,257 14,269 Aftermarket parts 6,946 6,590 Used trailers 2,523 2,499 $ 201,510 $ 186,914

PREPAID EXPENSES AND OTHER (Tab

PREPAID EXPENSES AND OTHER (Tables)	9 Months Ended
	Sep. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consist of the following (in thousands): September 30, December 31, Chassis converter pool agreements $ 11,213 $ 10,164 Assets held for sale 3,020 3,020 Income tax receivables 9,526 8,701 Insurance premiums & maintenance agreements 6,214 3,217 All other 14,561 16,120 $ 44,534 $ 41,222

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt consists of the following (in thousands): September 30, December 31, Senior notes due 2025 $ 315,000 $ 325,000 Term loan credit agreement due 2027 150,000 135,228 465,000 460,228 Less: unamortized discount and fees (6,278) (4,842) Less: current portion (1,500) — $ 457,222 $ 455,386

FINANCIAL DERIVATIVE INSTRUME_2

FINANCIAL DERIVATIVE INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	As of September 30, 2020 and December 31, 2019, the fair value carrying amount of the Company’s derivative instruments were recorded as follows (in thousands): Asset / (Liability) Derivatives Balance Sheet Caption September 30, December 31, Derivatives designated as hedging instruments Commodity swap contracts Prepaid expenses and other $ 467 $ 1,290 Commodity swap contracts Accounts payable and Other accrued liabilities (1,158) (3,216) Total derivatives designated as hedging instruments $ (691) $ (1,926)
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following table summarizes the gain or loss recognized in AOCI as of September 30, 2020 and December 31, 2019 and the amounts reclassified from AOCI into earnings for the three and nine months ended September 30, 2020 and 2019 (in thousands): Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion, net of tax) Location of Gain (Loss) Reclassified from AOCI into Earnings Amount of Gain (Loss) September 30, December 31, Three Months Ended Nine Months Ended 2020 2019 2020 2019 Derivatives instruments Commodity swap contracts $ (1,213) $ (2,112) Cost of sales $ (2,696) $ (424) $ (6,879) $ (1,070)

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Assets and Liabilities, Lessee	Leased assets and liabilities included within the Condensed Consolidated Balance Sheets consist of the following (in thousands): Classification September 30, 2020 December 31, 2019 Right-of-Use Assets Operating Other assets $ 11,987 $ 14,246 Finance Property, plant and equipment, net of depreciation 2,837 2,945 Total leased ROU assets $ 14,824 $ 17,191 Liabilities Current Operating Other accrued liabilities $ 4,346 $ 4,369 Finance Current portion of finance lease obligations 342 327 Noncurrent Operating Non-current liabilities 7,883 10,041 Finance Finance lease obligations 119 378 Total lease liabilities $ 12,690 $ 15,115
Lease, Cost	Lease costs included in the Condensed Consolidated Statements of Operations consist of the following (in thousands): Classification Three Months Ended Three Months Ended Operating lease cost Cost of sales, selling expenses and general and administrative expense $ 1,217 $ 1,200 Finance lease cost Amortization of ROU leased assets Depreciation and amortization within Cost of sales 36 36 Interest on lease liabilities Interest expense 11 16 Net lease cost $ 1,264 $ 1,252 Classification Nine Months Ended Nine Months Ended Operating lease cost Cost of sales, selling expenses and general and administrative expense $ 3,844 $ 3,398 Finance lease cost Amortization of ROU leased assets Depreciation and amortization 108 108 Interest on lease liabilities Interest expense 44 51 Net lease cost $ 3,996 $ 3,557 September 30, 2020 December 31, 2019 Weighted average remaining lease term (years) Operating leases 3.7 4.0 Finance leases 1.3 2.1 Weighted average discount rate Operating leases 5.06 % 5.17 % Finance leases 6.16 % 6.16 % Lease costs included in the Condensed Consolidated Statements of Cash Flows are as follows (in thousands): Nine Months Ended Nine Months Ended Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 3,820 $ 3,271 Operating cash flows from finance leases $ 27 $ 42 Financing cash flows from finance leases $ 244 $ 230
Operating Lease, Liability, Maturity	Maturity of the Company’s lease liabilities as of September 30, 2020 is as follows (in thousands): Operating Leases Finance Leases Total 2020 (remainder) $ 1,290 $ 90 $ 1,380 2021 4,580 361 4,941 2022 3,032 30 3,062 2023 2,183 — 2,183 2024 1,085 — 1,085 Thereafter 1,258 — 1,258 Total lease payments $ 13,428 $ 481 $ 13,909 Less: interest 1,199 20 Present value of lease payments $ 12,229 $ 461
Finance Lease, Liability, Maturity	Maturity of the Company’s lease liabilities as of September 30, 2020 is as follows (in thousands): Operating Leases Finance Leases Total 2020 (remainder) $ 1,290 $ 90 $ 1,380 2021 4,580 361 4,941 2022 3,032 30 3,062 2023 2,183 — 2,183 2024 1,085 — 1,085 Thereafter 1,258 — 1,258 Total lease payments $ 13,428 $ 481 $ 13,909 Less: interest 1,199 20 Present value of lease payments $ 12,229 $ 461

OTHER ACCRUED LIABILITIES (Tabl

OTHER ACCRUED LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Other Accrued Liabilities	The following table presents the major components of Other accrued liabilities (in thousands): September 30, December 31, Warranty $ 20,756 $ 22,575 Chassis converter pool agreements 11,213 10,164 Payroll and related taxes 15,231 25,263 Customer deposits 38,257 19,324 Self-insurance 12,937 12,934 Accrued interest 8,732 4,696 Operating lease obligations 4,346 4,369 Accrued taxes 4,142 10,344 All other 16,942 14,561 $ 132,556 $ 124,230
Changes in Product Warranty Accrual	The following table presents the changes in the product warranty accrual included in Other accrued liabilities (in thousands): 2020 2019 Balance as of January 1 $ 22,575 $ 22,247 Provision for warranties issued in current year 3,132 5,253 Payments (4,951) (3,158) Balance as of September 30 $ 20,756 $ 24,342

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements and Fair Value Hierarchy for Assets and Liabilities	Fair value measurements and the fair value hierarchy level for the Company’s assets and liabilities measured at fair value on a recurring basis, are shown below (in thousands): Frequency Asset / (Liability) Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs September 30, 2020 Commodity swap contracts Recurring (691) — (691) — Mutual funds Recurring 5,085 5,085 — — Life-insurance contracts Recurring 15,864 — 15,864 — December 31, 2019 Commodity swap contracts Recurring (1,926) — (1,926) — Mutual funds Recurring 7,367 7,367 — — Life-insurance contracts Recurring 15,072 — 15,072 —
Financial Assets and Liabilities Accounted For at Fair Value on Recurring Basis	The Company’s carrying and estimated fair value of debt at September 30, 2020 and December 31, 2019 were as follows (in thousands): September 30, 2020 December 31, 2019 Carrying Fair Value Carrying Fair Value Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Instrument Senior Notes due 2025 $ 311,191 $ — $ 312,747 $ — $ 320,572 $ — $ 320,572 $ — New and Old Term Loan Credit Agreements 147,531 — 146,978 — 134,814 — 134,814 — $ 458,722 $ — $ 459,725 $ — $ 455,386 $ — $ 455,386 $ —

NET INCOME (LOSS) PER SHARE (Ta

NET INCOME (LOSS) PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Basic and Diluted Net Income Per Share	The calculation of basic and diluted net income (loss) per share is determined using net income (loss) applicable to common stockholders as the numerator and the number of shares included in the denominator as shown below (in thousands, except per share amounts). Due to the net loss applicable to common stockholders for the nine months ended September 30, 2020, no securities had a dilutive impact for this period. Three Months Ended Nine Months Ended 2020 2019 2020 2019 Basic net income (loss) per share: Net income (loss) applicable to common stockholders $ 3,887 $ 25,460 $ (102,906) $ 71,200 Weighted average common shares outstanding 52,912 54,413 52,980 54,975 Basic net income (loss) per share $ 0.07 $ 0.47 $ (1.94) $ 1.30 Diluted net income (loss) per share: Net income (loss) applicable to common stockholders $ 3,887 $ 25,460 $ (102,906) $ 71,200 Weighted average common shares outstanding 52,912 54,413 52,980 54,975 Dilutive stock options and restricted stock 468 606 — 527 Diluted weighted average common shares outstanding 53,380 55,019 52,980 55,502 Diluted net income (loss) per share $ 0.07 $ 0.46 $ (1.94) $ 1.28

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Changes in AOCI by Component	Changes in AOCI by component, net of tax, for the nine months ended September 30, 2020 are summarized as follows (in thousands): Foreign Currency Translation Derivative Instruments Total Balances at December 31, 2019 $ (1,866) $ (2,112) $ (3,978) Net unrealized gains (losses) arising during the period (a) (1,636) (5,217) (6,853) Less: Net realized gains (losses) reclassified to net (loss) income (b) — (1,334) (1,334) Net change during the period (1,636) (3,883) (5,519) Balances at March 31, 2020 (3,502) (5,995) (9,497) Net unrealized gains (losses) arising during the period (c) 318 470 788 Less: Net realized gains (losses) reclassified to net income (d) — (1,794) (1,794) Net change during the period 318 2,264 2,582 Balances at June 30, 2020 (3,184) (3,731) (6,915) Net unrealized gains (losses) arising during the period (e) 262 502 764 Less: Net realized gains (losses) reclassified to net income (f) — (2,016) (2,016) Net change during the period 262 2,518 2,780 Balances at September 30, 2020 $ (2,922) $ (1,213) $ (4,135) ————————— (a) Derivative instruments net of $1,759 thousand of tax benefit for the three months ended March 31, 2020. (b) Derivative instruments net of $451 thousand of tax benefit for the three months ended March 31, 2020. (c) Derivative instruments net of $158 thousand of tax liability for the three months ended June 30, 2020. (d) Derivative instruments net of $604 thousand of tax benefit for the three months ended June 30, 2020. (e) Derivative instruments net of $169 thousand of tax liability for the three months ended September 30, 2020. (f) Derivative instruments net of $680 thousand of tax benefit for the three months ended September 30, 2020. Changes in AOCI by component, net of tax, for the nine months ended September 30, 2019 are summarized as follows (in thousands): Foreign Currency Translation Derivative Instruments Total Balances at December 31, 2018 $ (2,578) $ (765) $ (3,343) Net unrealized gains (losses) arising during the period (g) 298 (939) (641) Less: Net realized gains (losses) reclassified to net income (h) — (125) (125) Net change during the period 298 (814) (516) Balances at March 31, 2019 (2,280) (1,579) (3,859) Net unrealized gains (losses) arising during the period (i) (115) (279) (394) Less: Net realized gains (losses) reclassified to net income (j) — (357) (357) Net change during the period (115) 78 (37) Balances at June 30, 2019 (2,395) (1,501) (3,896) Net unrealized gains (losses) arising during the period (k) (463) (854) (1,317) Less: Net realized gains (losses) reclassified to net income (l) — (318) (318) Net change during the period (463) (536) (999) Balances at September 30, 2019 $ (2,858) $ (2,037) $ (4,895) ————————— (g) Derivative instruments net of $308 thousand of tax benefit for the three months ended March 31, 2019. (h) Derivative instruments net of $42 thousand of tax benefit for the three months ended March 31, 2019. (i) Derivative instruments net of $93 thousand of tax benefit for the three months ended June 30, 2019. (j) Derivative instruments net of $121 thousand of tax benefit for the three months ended June 30, 2019. (k) Derivative instruments net of $288 thousand of tax benefit for the three months ended September 30, 2019. (l) Derivative instruments net of $106 thousand of tax benefit for the three months ended September 30, 2019.

SEGMENTS (Tables)

SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Reportable Segment Information	Reportable segment information is as follows (in thousands): Three Months Ended September 30, 2020 Commercial Diversified Final Mile Corporate and Consolidated Net sales External customers $ 226,324 $ 69,912 $ 55,348 $ — $ 351,584 Intersegment sales 192 2,108 — (2,300) — Total net sales $ 226,516 $ 72,020 $ 55,348 $ (2,300) $ 351,584 Income (loss) from operations $ 19,659 $ 4,188 $ (4,442) $ (10,997) $ 8,408 Assets $ 326,908 $ 287,788 $ 387,489 $ 193,897 $ 1,196,082 Three Months Ended September 30, 2019 Commercial Diversified Final Mile Corporate and Consolidated Net sales External customers $ 380,062 $ 87,342 $ 113,504 $ — $ 580,908 Intersegment sales 282 5,839 — (6,121) — Total net sales $ 380,344 $ 93,181 $ 113,504 $ (6,121) $ 580,908 Income (loss) from operations $ 36,503 $ 7,183 $ 4,628 $ (10,045) $ 38,269 Assets $ 364,436 $ 327,343 $ 507,402 $ 179,422 $ 1,378,603 Nine Months Ended September 30, 2020 Commercial Diversified Final Mile Corporate and Consolidated Net sales External customers $ 709,516 $ 201,845 $ 166,450 $ — $ 1,077,811 Intersegment sales 229 17,084 — (17,313) — Total net sales $ 709,745 $ 218,929 $ 166,450 $ (17,313) $ 1,077,811 Income (loss) from operations $ 54,129 $ 360 $ (119,052) $ (31,086) $ (95,649) Assets $ 326,908 $ 287,788 $ 387,489 $ 193,897 $ 1,196,082 Nine Months Ended September 30, 2019 Commercial Diversified Final Mile Corporate and Consolidated Net sales External customers $ 1,120,608 $ 270,357 $ 349,170 $ — $ 1,740,135 Intersegment sales 1,645 19,498 — (21,143) — Total net sales $ 1,122,253 $ 289,855 $ 349,170 $ (21,143) $ 1,740,135 Income (loss) from operations $ 102,742 $ 24,138 $ 15,718 $ (31,593) $ 111,005 Assets $ 364,436 $ 327,343 $ 507,402 $ 179,422 $ 1,378,603
Major Product Categories and Percentage of Consolidated Net Sales	The following table sets forth the major product categories and their percentage of consolidated net sales (dollars in thousands): Three Months Ended September 30, 2020 Commercial Diversified Final Mile Eliminations Consolidated New trailers $ 215,609 $ 37,455 $ — $ — $ 253,064 72.0 % Used trailers 522 1,439 — — 1,961 0.6 % Components, parts and service 9,371 16,607 3,103 (2,300) 26,781 7.6 % Equipment and other 1,014 16,519 52,245 — 69,778 19.8 % Total net sales $ 226,516 $ 72,020 $ 55,348 $ (2,300) $ 351,584 100.0 % Three Months Ended September 30, 2019 Commercial Diversified Final Mile Eliminations Consolidated New trailers $ 366,938 $ 51,697 $ — $ — $ 418,635 72.1 % Used trailers 86 417 — — 503 0.1 % Components, parts and service 10,039 23,790 4,302 (5,960) 32,171 5.5 % Equipment and other 3,281 17,277 109,202 (161) 129,599 22.3 % Total net sales $ 380,344 $ 93,181 $ 113,504 $ (6,121) $ 580,908 100.0 % Nine Months Ended September 30, 2020 Commercial Diversified Final Mile Eliminations Consolidated New trailers $ 672,263 $ 108,943 $ — $ — $ 781,206 72.5 % Used trailers 3,113 3,972 — — 7,085 0.7 % Components, parts and service 28,214 64,855 9,278 (17,284) 85,063 7.9 % Equipment and other 6,155 41,159 157,172 (29) 204,457 19.0 % Total net sales $ 709,745 $ 218,929 $ 166,450 $ (17,313) $ 1,077,811 100.0 % Nine Months Ended September 30, 2019 Commercial Diversified Final Mile Eliminations Consolidated New trailers $ 1,078,599 $ 146,821 $ — $ — $ 1,225,420 70.4 % Used trailers 236 1,743 — — 1,979 0.1 % Components, parts and service 30,994 88,681 12,165 (20,455) 111,385 6.4 % Equipment and other 12,424 52,610 337,005 (688) 401,351 23.1 % Total net sales $ 1,122,253 $ 289,855 $ 349,170 $ (21,143) $ 1,740,135 100.0 %

REVENUE RECOGNITION (Details)

REVENUE RECOGNITION (Details)	9 Months Ended
	Sep. 30, 2020performance_obligation
Revenue from Contract with Customer [Abstract]
Number of separate and distinct performance obligations	3

GOODWILL IMPAIRMENT - Schedule

GOODWILL IMPAIRMENT - Schedule of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 312,818	$ 312,820	$ 312,689	$ 317,691
Accumulated impairment losses, beginning of period	(108,400)	(108,400)	(1,663)	(6,607)
Goodwill, beginning of period	204,418	204,420	311,026	311,084
Impact of divestiture on goodwill				(4,944)
Impact of divestiture on accumulated impairment losses				4,944
Goodwill impairments	0	0	(106,737)
Effects of foreign currency	(67)	(2)	131	(58)
Goodwill, end of period	312,751	312,818	312,820	312,689
Accumulated impairment losses, end of period	(108,400)	(108,400)	(108,400)	(1,663)
Goodwill, end of period	204,351	204,418	204,420	311,026
Commercial Trailer Products
Goodwill [Roll Forward]
Goodwill, beginning of period	4,288	4,288	4,288	4,288
Accumulated impairment losses, beginning of period	(1,663)	(1,663)	(1,663)	(1,663)
Goodwill, beginning of period	2,625	2,625	2,625	2,625
Impact of divestiture on goodwill				0
Impact of divestiture on accumulated impairment losses				0
Goodwill impairments	0	0	0
Effects of foreign currency	0	0	0	0
Goodwill, end of period	4,288	4,288	4,288	4,288
Accumulated impairment losses, end of period	(1,663)	(1,663)	(1,663)	(1,663)
Goodwill, end of period	2,625	2,625	2,625	2,625
Diversified Products
Goodwill [Roll Forward]
Goodwill, beginning of period	140,815	140,817	140,686	145,688
Accumulated impairment losses, beginning of period	(10,971)	(10,971)	0	(4,944)
Goodwill, beginning of period	129,844	129,846	140,686	140,744
Impact of divestiture on goodwill				(4,944)
Impact of divestiture on accumulated impairment losses				4,944
Goodwill impairments	0	0	(10,971)
Effects of foreign currency	(67)	(2)	131	(58)
Goodwill, end of period	140,748	140,815	140,817	140,686
Accumulated impairment losses, end of period	(10,971)	(10,971)	(10,971)	0
Goodwill, end of period	129,777	129,844	129,846	140,686
Final Mile Products
Goodwill [Roll Forward]
Goodwill, beginning of period	167,715	167,715	167,715	167,715
Accumulated impairment losses, beginning of period	(95,766)	(95,766)	0	0
Goodwill, beginning of period	71,949	71,949	167,715	167,715
Impact of divestiture on goodwill				0
Impact of divestiture on accumulated impairment losses				0
Goodwill impairments	0	0	(95,766)
Effects of foreign currency	0	0	0	0
Goodwill, end of period	167,715	167,715	167,715	167,715
Accumulated impairment losses, end of period	(95,766)	(95,766)	(95,766)	0
Goodwill, end of period	$ 71,949	$ 71,949	$ 71,949	$ 167,715

GOODWILL IMPAIRMENT - Narrative

GOODWILL IMPAIRMENT - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Goodwill	$ 204,351	$ 204,418	$ 204,420	$ 311,026	$ 311,084
Goodwill impairment loss	0	0	106,737
Tank Trailers Reporting Unit
Goodwill [Line Items]
Goodwill impairment loss			11,000
Final Mile Product Reporting Unit
Goodwill [Line Items]
Goodwill impairment loss			95,800
Commercial Trailer Products
Goodwill [Line Items]
Goodwill	2,625	2,625	2,625	2,625	2,625
Goodwill impairment loss	0	0	0
Commercial Trailer Products | Tank Trailers Reporting Unit
Goodwill [Line Items]
Goodwill				98,400
Commercial Trailer Products | Process Systems Reporting Unit
Goodwill [Line Items]
Goodwill				42,300
Diversified Products
Goodwill [Line Items]
Goodwill	129,777	129,844	129,846	140,686	140,744
Goodwill impairment loss	0	0	10,971
Final Mile Products
Goodwill [Line Items]
Goodwill	71,949	71,949	71,949	$ 167,715	$ 167,715
Goodwill impairment loss	$ 0	$ 0	$ 95,766

INVENTORIES, NET (Details)

INVENTORIES, NET (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials and components	$ 93,225	$ 105,332
Finished goods	85,559	58,224
Work in progress	13,257	14,269
Aftermarket parts	6,946	6,590
Used trailers	2,523	2,499
Total inventory	$ 201,510	$ 186,914

PREPAID EXPENSES AND OTHER - Pr

PREPAID EXPENSES AND OTHER - Prepaid Expenses and Other Current Assets (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Chassis converter pool agreements	$ 11,213,000	$ 10,164,000
Assets held for sale	3,020,000	3,020,000
Income tax receivables	9,526,000	8,701,000
Insurance premiums & maintenance agreements	6,214,000	3,217,000
All other	14,561,000	16,120,000
Prepaid expenses and other current assets	44,534,000	41,222,000
Restricted cash	$ 0	$ 0

DEBT - Long-term Debt (Details)

DEBT - Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt, gross	$ 465,000	$ 460,228
Less: unamortized discount and fees	(6,278)	(4,842)
Less: current portion	(1,500)	0
Long-term debt	457,222	455,386
Senior notes due 2025
Debt Instrument [Line Items]
Long-term debt, gross	315,000	325,000
Term loan credit agreement due 2027
Debt Instrument [Line Items]
Long-term debt, gross	$ 150,000	$ 135,228

DEBT - Senior Notes (Details)

DEBT - Senior Notes (Details) - USD ($)	Sep. 26, 2017	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt Instrument [Line Items]
Interest expense		$ 5,749,000	$ 6,713,000	$ 17,903,000	$ 20,823,000
Senior notes due 2025
Debt Instrument [Line Items]
Notes issued, aggregate principal amount	$ 325,000,000
Notes issued, interest rate	5.50%
Proceeds from issuance of senior long-term debt	$ 318,900,000
Interest expense		4,600,000	$ 4,600,000	$ 13,900,000	$ 13,900,000
Repayments of long-term debt		$ 10,000,000

DEBT - Revolving Credit (Detail

DEBT - Revolving Credit (Details)	Dec. 21, 2018USD ($)	Sep. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Fixed charge coverage ratio	1
Long-term debt, gross		$ 465,000,000			$ 465,000,000		$ 460,228,000
Interest expense		5,749,000		$ 6,713,000	17,903,000	$ 20,823,000
Liquidity position to meet future obligations, amount		$ 383,400,000			$ 383,400,000		$ 308,100,000
Increase (decrease), liquidity position to meet future obligations, percentage		24.00%			24.00%
Revolving Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 175,000,000
Line of credit facility accordion feature increase limit	$ 275,000,000
Line of credit facility, excess availability, commitment percentage, threshold	10.00%
Proceeds from issuance of long-term debt			$ 45,000,000
Long-term debt, gross		$ 45,000,000			$ 45,000,000
Revolving Credit Agreement | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.25%
Revolving Credit Agreement | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.75%
Revolving Credit Agreement | Base Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.25%
Revolving Credit Agreement | Base Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.75%
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.20%
Long-term debt, gross		0		0	0	0
Interest expense		$ 0		$ 0	$ 200,000	$ 0
Letter of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 15,000,000
Bridge Loan
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 17,500,000

DEBT - New and Old Term Loan Cr

DEBT - New and Old Term Loan Credit Agreements (Details) - USD ($)	Sep. 28, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Loss on debt extinguishment				$ 219,000	$ 104,000
Current portion of long-term debt		$ 1,500,000		1,500,000		$ 0
Term loan credit agreement due 2027
Debt Instrument [Line Items]
Amortization of debt issuance costs and discounts		100,000	$ 100,000	100,000	200,000
New Term Loan Credit Agreement | Term loan credit agreement due 2027
Debt Instrument [Line Items]
Notes issued, aggregate principal amount	$ 150,000,000
Percentage of tranche loan amount on Equal quarterly installments	0.25%
Debt Instrument, LIBOR Floor Rate	0.75%
Proceeds from issuance of long-term debt	$ 148,500,000
Long-term line of credit	$ 150,000,000
Current portion of long-term debt		1,500,000		1,500,000
Interest paid		0
New Term Loan Credit Agreement | London Interbank Offered Rate (LIBOR) | Term loan credit agreement due 2027
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	3.25%
New Term Loan Credit Agreement | Base Rate | Term loan credit agreement due 2027
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.25%
Old Term Loan Credit Agreement | Term loan credit agreement due 2027
Debt Instrument [Line Items]
Extinguishment of debt, amount		135,200,000
Loss on debt extinguishment		200,000
Interest paid		$ 900,000	1,900,000	$ 3,300,000	6,300,000
Repayments of long-term debt			$ 15,000,000		$ 30,500,000

FINANCIAL DERIVATIVE INSTRUME_3

FINANCIAL DERIVATIVE INSTRUMENTS - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative notional amount	$ 48.9
Pretax deferred losses expected to be reclassified	$ (1.6)

FINANCIAL DERIVATIVE INSTRUME_4

FINANCIAL DERIVATIVE INSTRUMENTS - Fair Value Carrying Amount of Derivative Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Derivative [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	$ (691)	$ (1,926)
Prepaid expenses and other
Derivative [Line Items]
Derivative asset, fair value, gross asset	467	1,290
Accounts payable and Other accrued liabilities
Derivative [Line Items]
Liability derivatives	$ (1,158)	$ (3,216)

FINANCIAL DERIVATIVE INSTRUME_5

FINANCIAL DERIVATIVE INSTRUMENTS - Summary of Gain or Loss Recognized in AOCI (Details) - Commodity swap contracts - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion, net of tax)		$ (2,112)		$ (1,213)
Amount of Gain (Loss) Reclassified from AOCI into Earnings	$ (2,696)		$ (424)	$ (6,879)	$ (1,070)

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2020USD ($)
Lessee, Lease, Description [Line Items]
Right-of-use asset obtained in exchange for operating lease liability	$ 300
Minimum
Lessee, Lease, Description [Line Items]
Renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Renewal term	5 years

LEASES - Leased Assets and Liab

LEASES - Leased Assets and Liabilities Included Within the Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Right-of-Use Assets
Operating	$ 11,987	$ 14,246
Finance	2,837	2,945
Total leased ROU assets	14,824	17,191
Current
Operating	4,346	4,369
Finance	342	327
Noncurrent
Operating	7,883	10,041
Finance	119	378
Total lease liabilities	$ 12,690	$ 15,115

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 1,217	$ 1,200	$ 3,844	$ 3,398
Finance Lease Cost
Amortization of ROU leased assets	36	36	108	108
Interest on lease liabilities	11	16	44	51
Net lease cost	$ 1,264	$ 1,252	$ 3,996	$ 3,557

LEASES - Maturity of Lease Liab

LEASES - Maturity of Lease Liabilities (Details) $ in Thousands	Sep. 30, 2020USD ($)
Operating Leases
2020 (remainder)	$ 1,290
2021	4,580
2022	3,032
2023	2,183
2024	1,085
Thereafter	1,258
Total lease payments	13,428
Less: interest	1,199
Present value of lease payments	12,229
Finance Leases
2020 (remainder)	90
2021	361
2022	30
2023	0
2024	0
Thereafter	0
Total lease payments	481
Less: interest	20
Present value of lease payments	461
Total
2020 (remainder)	1,380
2021	4,941
2022	3,062
2022	2,183
2023	1,085
Thereafter	1,258
Total lease payments	$ 13,909

LEASES - Lease Terms and Discou

LEASES - Lease Terms and Discount Rates (Details)	Sep. 30, 2020	Dec. 31, 2019
Weighted average remaining lease term (years)
Operating leases	3 years 8 months 12 days	4 years
Finance leases	1 year 3 months 18 days	2 years 1 month 6 days
Weighted average discount rate
Operating leases	5.06%	5.17%
Finance leases	6.16%	6.16%

LEASES - Lease Costs Included i

LEASES - Lease Costs Included in the Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 3,820	$ 3,271
Operating cash flows from finance leases	27	42
Principal payments under finance lease obligations	$ 244	$ 230

OTHER ACCRUED LIABILITIES - Oth

OTHER ACCRUED LIABILITIES - Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Warranty	$ 20,756	$ 22,575	$ 24,342	$ 22,247
Chassis converter pool agreements	11,213	10,164
Payroll and related taxes	15,231	25,263
Customer deposits	38,257	19,324
Self-insurance	12,937	12,934
Accrued interest	8,732	4,696
Operating lease obligations	4,346	4,369
Accrued taxes	4,142	10,344
All other	16,942	14,561
Other accrued liabilities	$ 132,556	$ 124,230

OTHER ACCRUED LIABILITIES - Cha

OTHER ACCRUED LIABILITIES - Changes in Product Warranty Accrual (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 22,575	$ 22,247
Provision for warranties issued in current year	3,132	5,253
Payments	(4,951)	(3,158)
Balance at end of period	$ 20,756	$ 24,342

OTHER ACCRUED LIABILITIES - Nar

OTHER ACCRUED LIABILITIES - Narrative (Details)	9 Months Ended
	Sep. 30, 2020
Minimum
Accrued Liabilities [Line Items]
Warranty coverage period	1 year
Maximum
Accrued Liabilities [Line Items]
Warranty coverage period	5 years
DuraPlate Trailer Panels
Accrued Liabilities [Line Items]
Warranty coverage period	10 years

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value Measurements and Fair Value Hierarchy for Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Life-insurance contracts	$ 15,864	$ 15,072
Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	5,085	7,367
Commodity swap contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity swap contracts	(691)	(1,926)
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Life-insurance contracts	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	5,085	7,367
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commodity swap contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity swap contracts	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Life-insurance contracts	15,864	15,072
Significant Other Observable Inputs (Level 2) | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	0	0
Significant Other Observable Inputs (Level 2) | Commodity swap contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity swap contracts	(691)	(1,926)
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Life-insurance contracts	0	0
Significant Unobservable Inputs (Level 3) | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	0	0
Significant Unobservable Inputs (Level 3) | Commodity swap contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity swap contracts	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial Assets and Liabilities Accounted For at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 458,722	$ 455,386
Senior Notes due 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	311,191	320,572
New and Old Term Loan Credit Agreements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	147,531	134,814
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	0	0
Level 1 | Senior Notes due 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	0	0
Level 1 | New and Old Term Loan Credit Agreements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	459,725	455,386
Level 2 | Senior Notes due 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	312,747	320,572
Level 2 | New and Old Term Loan Credit Agreements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	146,978	134,814
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	0	0
Level 3 | Senior Notes due 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	0	0
Level 3 | New and Old Term Loan Credit Agreements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 0	$ 0

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Outstanding chassis converter pool	$ 11,213	$ 10,164
Chassis Converter Pool Agreements
Loss Contingencies [Line Items]
Consigned inventory belonging to the manufacturer	$ 1,000

NET INCOME (LOSS) PER SHARE - B

NET INCOME (LOSS) PER SHARE - Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Basic net income (loss) per share:
Net income (loss) applicable to common stockholders	$ 3,887	$ 25,460	$ (102,906)	$ 71,200
Weighted average common shares outstanding (in shares)	52,912	54,413	52,980	54,975
Basic net income (loss) per share (in usd per share)	$ 0.07	$ 0.47	$ (1.94)	$ 1.30
Diluted net income (loss) per share:
Net income (loss) applicable to common stockholders	$ 3,887	$ 25,460	$ (102,906)	$ 71,200
Weighted average common shares outstanding (in shares)	52,912	54,413	52,980	54,975
Dilutive stock options and restricted stock (in shares)	468	606	0	527
Diluted weighted average common shares outstanding (in shares)	53,380	55,019	52,980	55,502
Diluted net income (loss) income per share (in usd per share)	$ 0.07	$ 0.46	$ (1.94)	$ 1.28

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) $ in Millions	Sep. 30, 2020USD ($)
Share-based Payment Arrangement, Noncash Expense [Abstract]
Compensation costs related to restricted stock units and performance units not yet recognized	$ 13.2

STOCKHOLDERS' EQUITY - Narrativ

STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($)	1 Months Ended
	Nov. 30, 2018	Sep. 30, 2020	Dec. 31, 2019	Feb. 28, 2017	Feb. 29, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock repurchase program, period in force	3 years
Stock repurchase program, authorized amount	$ 100,000,000			$ 100,000,000	$ 100,000,000
Stock repurchase program, remaining authorized repurchase amount		$ 60,200,000
Common stock, shares authorized (in shares)		200,000,000	200,000,000
Common stock, par value (in usd per share)		$ 0.01	$ 0.01
Preferred Class A
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized (in shares)		25,000,000

STOCKHOLDERS' EQUITY - Changes

STOCKHOLDERS' EQUITY - Changes in AOCI by Component (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 393,217	$ 393,969	$ 520,988	$ 501,565	$ 483,606	$ 473,849
Net unrealized gains (losses) arising during the period	764	788	(6,853)	(1,317)	(394)	(641)
Less: Net realized gains (losses) reclassified to net (loss) income	(2,016)	(1,794)	(1,334)	(318)	(357)	(125)
Net change during the period	2,780	2,582	(5,519)	(999)	(37)	(516)
Balance at end of period	397,365	393,217	393,969	515,058	501,565	483,606
Other comprehensive income (loss) before reclassifications, tax benefit	(169)	(158)	1,759	288	93	308
Reclassification from AOCI, current period, tax benefit	680	604	451	106	121	42
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(6,915)	(9,497)	(3,978)	(3,896)	(3,859)	(3,343)
Balance at end of period	(4,135)	(6,915)	(9,497)	(4,895)	(3,896)	(3,859)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(3,184)	(3,502)	(1,866)	(2,395)	(2,280)	(2,578)
Net unrealized gains (losses) arising during the period	262	318	(1,636)	(463)	(115)	298
Less: Net realized gains (losses) reclassified to net (loss) income	0	0	0	0	0	0
Net change during the period	262	318	(1,636)	(463)	(115)	298
Balance at end of period	(2,922)	(3,184)	(3,502)	(2,858)	(2,395)	(2,280)
Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(3,731)	(5,995)	(2,112)	(1,501)	(1,579)	(765)
Net unrealized gains (losses) arising during the period	502	470	(5,217)	(854)	(279)	(939)
Less: Net realized gains (losses) reclassified to net (loss) income	(2,016)	(1,794)	(1,334)	(318)	(357)	(125)
Net change during the period	2,518	2,264	(3,883)	(536)	78	(814)
Balance at end of period	$ (1,213)	$ (3,731)	$ (5,995)	$ (2,037)	$ (1,501)	$ (1,579)

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ (1,285)	$ 7,429	$ (10,298)	$ 21,227
Effective tax rate	(49.40%)	22.60%	9.10%	23.00%
Federal tax rate			21.00%

LONG-LIVED ASSETS - Narrative (

LONG-LIVED ASSETS - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended	9 Months Ended
	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Proceeds from the sale of property, plant, and equipment	$ 2,700	$ 2,726	$ 785
Gain on sale of property, plant, and equipment	$ 1,700	$ 1,669	$ 40

SEGMENTS - Narrative (Details)

SEGMENTS - Narrative (Details)	9 Months Ended
	Sep. 30, 2020product_categorybusiness_unitsegment
Segment Reporting Information [Line Items]
Number of segments | segment	3
Number of products | product_category	4
Diversified Products
Segment Reporting Information [Line Items]
Number of strategic business units | business_unit	3

SEGMENTS - Reportable Segment I

SEGMENTS - Reportable Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Net sales
Total net sales	$ 351,584	$ 580,908	$ 1,077,811	$ 1,740,135
Income (loss) from operations	8,408	38,269	(95,649)	111,005
Assets	1,196,082	1,378,603	1,196,082	1,378,603	$ 1,304,591
Commercial Trailer Products Segment
Net sales
Total net sales	226,324	380,062	709,516	1,120,608
Diversified Products Segment
Net sales
Total net sales	69,912	87,342	201,845	270,357
Final Mile Products Segment
Net sales
Total net sales	55,348	113,504	166,450	349,170
Corporate and Eliminations
Net sales
Total net sales	(2,300)	(6,121)	(17,313)	(21,143)
Income (loss) from operations	(10,997)	(10,045)	(31,086)	(31,593)
Assets	193,897	179,422	193,897	179,422
Corporate and Eliminations | Commercial Trailer Products Segment
Net sales
Total net sales	192	282	229	1,645
Corporate and Eliminations | Diversified Products Segment
Net sales
Total net sales	2,108	5,839	17,084	19,498
Corporate and Eliminations | Final Mile Products Segment
Net sales
Total net sales	0	0	0	0
Operating Segments | Commercial Trailer Products Segment
Net sales
Total net sales	226,516	380,344	709,745	1,122,253
Income (loss) from operations	19,659	36,503	54,129	102,742
Assets	326,908	364,436	326,908	364,436
Operating Segments | Diversified Products Segment
Net sales
Total net sales	72,020	93,181	218,929	289,855
Income (loss) from operations	4,188	7,183	360	24,138
Assets	287,788	327,343	287,788	327,343
Operating Segments | Final Mile Products Segment
Net sales
Total net sales	55,348	113,504	166,450	349,170
Income (loss) from operations	(4,442)	4,628	(119,052)	15,718
Assets	$ 387,489	$ 507,402	$ 387,489	$ 507,402

SEGMENTS - Major Product Catego

SEGMENTS - Major Product Categories and Percentage of Consolidated Net Sales (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Product Information [Line Items]
Net sales	$ 351,584	$ 580,908	$ 1,077,811	$ 1,740,135
Sales Revenue, Net
Product Information [Line Items]
Percentage of consolidated net sales	100.00%	100.00%	100.00%	100.00%
Eliminations
Product Information [Line Items]
Net sales	$ (2,300)	$ (6,121)	$ (17,313)	$ (21,143)
Commercial Trailer Products Segment
Product Information [Line Items]
Net sales	226,324	380,062	709,516	1,120,608
Commercial Trailer Products Segment | Operating Segments
Product Information [Line Items]
Net sales	226,516	380,344	709,745	1,122,253
Commercial Trailer Products Segment | Eliminations
Product Information [Line Items]
Net sales	192	282	229	1,645
Diversified Products Segment
Product Information [Line Items]
Net sales	69,912	87,342	201,845	270,357
Diversified Products Segment | Operating Segments
Product Information [Line Items]
Net sales	72,020	93,181	218,929	289,855
Diversified Products Segment | Eliminations
Product Information [Line Items]
Net sales	2,108	5,839	17,084	19,498
Final Mile Products Segment
Product Information [Line Items]
Net sales	55,348	113,504	166,450	349,170
Final Mile Products Segment | Operating Segments
Product Information [Line Items]
Net sales	55,348	113,504	166,450	349,170
Final Mile Products Segment | Eliminations
Product Information [Line Items]
Net sales	0	0	0	0
New trailers
Product Information [Line Items]
Net sales	$ 253,064	$ 418,635	$ 781,206	$ 1,225,420
New trailers | Sales Revenue, Net
Product Information [Line Items]
Percentage of consolidated net sales	72.00%	72.10%	72.50%	70.40%
New trailers | Eliminations
Product Information [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 0
New trailers | Commercial Trailer Products Segment | Operating Segments
Product Information [Line Items]
Net sales	215,609	366,938	672,263	1,078,599
New trailers | Diversified Products Segment | Operating Segments
Product Information [Line Items]
Net sales	37,455	51,697	108,943	146,821
New trailers | Final Mile Products Segment | Operating Segments
Product Information [Line Items]
Net sales	0	0	0	0
Used trailers
Product Information [Line Items]
Net sales	$ 1,961	$ 503	$ 7,085	$ 1,979
Used trailers | Sales Revenue, Net
Product Information [Line Items]
Percentage of consolidated net sales	0.60%	0.10%	0.70%	0.10%
Used trailers | Eliminations
Product Information [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 0
Used trailers | Commercial Trailer Products Segment | Operating Segments
Product Information [Line Items]
Net sales	522	86	3,113	236
Used trailers | Diversified Products Segment | Operating Segments
Product Information [Line Items]
Net sales	1,439	417	3,972	1,743
Used trailers | Final Mile Products Segment | Operating Segments
Product Information [Line Items]
Net sales	0	0	0	0
Components, parts and service
Product Information [Line Items]
Net sales	$ 26,781	$ 32,171	$ 85,063	$ 111,385
Components, parts and service | Sales Revenue, Net
Product Information [Line Items]
Percentage of consolidated net sales	7.60%	5.50%	7.90%	6.40%
Components, parts and service | Eliminations
Product Information [Line Items]
Net sales	$ (2,300)	$ (5,960)	$ (17,284)	$ (20,455)
Components, parts and service | Commercial Trailer Products Segment | Operating Segments
Product Information [Line Items]
Net sales	9,371	10,039	28,214	30,994
Components, parts and service | Diversified Products Segment | Operating Segments
Product Information [Line Items]
Net sales	16,607	23,790	64,855	88,681
Components, parts and service | Final Mile Products Segment | Operating Segments
Product Information [Line Items]
Net sales	3,103	4,302	9,278	12,165
Equipment and other
Product Information [Line Items]
Net sales	$ 69,778	$ 129,599	$ 204,457	$ 401,351
Equipment and other | Sales Revenue, Net
Product Information [Line Items]
Percentage of consolidated net sales	19.80%	22.30%	19.00%	23.10%
Equipment and other | Eliminations
Product Information [Line Items]
Net sales	$ 0	$ (161)	$ (29)	$ (688)
Equipment and other | Commercial Trailer Products Segment | Operating Segments
Product Information [Line Items]
Net sales	1,014	3,281	6,155	12,424
Equipment and other | Diversified Products Segment | Operating Segments
Product Information [Line Items]
Net sales	16,519	17,277	41,159	52,610
Equipment and other | Final Mile Products Segment | Operating Segments
Product Information [Line Items]
Net sales	$ 52,245	$ 109,202	$ 157,172	$ 337,005