Alamo (ALG) 10-K 24 Feb 22 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 18, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	0-21220
Entity Registrant Name	ALAMO GROUP INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-1621248
Entity Address, Address Line One	1627 East Walnut
Entity Address, City or Town	Seguin
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78155
City Area Code	830
Local Phone Number	379-1480
Title of 12(b) Security	Common Stock, par value$.10 per share
Trading Symbol	ALG
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1,511,728,346
Entity Common Stock, Shares Outstanding		11,934,602
Documents Incorporated by Reference	Portions of the registrant’s proxy statement relating to the 2022 Annual Meeting of Stockholders have been incorporated by reference herein in response to Part III.
Entity Central Index Key	0000897077
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Firm ID	185
Auditor Name	KPMG LLP
Auditor Location	San Antonio, TX

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	[1]
Current assets:
Cash and cash equivalents	$ 42,115	$ 50,195
Accounts receivable, net	237,970	209,276
Inventories, net	320,917	242,501
Prepaid expenses and other current assets	9,500	7,382
Income tax receivable	1,666	6,186
Total current assets	612,168	515,540
Rental equipment, net	32,514	42,266
Property, plant and equipment	321,863	312,362
Less:  Accumulated depreciation	(169,372)	(156,928)
Total property, plant and equipment, net	152,491	155,434
Goodwill	202,406	195,132
Intangible assets, net	183,466	193,172
Deferred income taxes	1,110	1,203
Other non-current assets	21,587	19,112
Total assets	1,205,742	1,121,859
Current liabilities:
Trade accounts payable	101,396	75,317
Income taxes payable	2,613	2,278
Accrued liabilities	73,523	64,634
Current maturities of long-term debt and finance lease obligations	15,032	15,066
Total current liabilities	192,564	157,295
Long-term debt and finance lease obligations, net of current maturities	254,522	270,320
Long-term tax liability	4,416	3,954
Other long-term liabilities	27,119	32,475
Deferred income taxes	21,458	22,812
Stockholders’ equity:
Common stock, $.10 par value, 20,000,000 shares authorized; 11,874,178 and 11,809,926 outstanding at December 31, 2021 and December 31, 2020, respectively	1,187	1,181
Additional paid-in capital	124,228	118,528
Treasury stock, at cost; 82,600 shares at December 31, 2021 and December 31, 2020	(4,566)	(4,566)
Retained earnings	633,804	560,186
Accumulated other comprehensive loss	(48,990)	(40,326)
Total stockholders’ equity	705,663	635,003	[2]
Total liabilities and stockholders’ equity	$ 1,205,742	$ 1,121,859
[1]	Years ended December 31, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.
[2]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares outstanding (in shares)	11,874,178	11,809,926
Treasury stock (in shares)	82,600	82,600

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019
Net sales:
Net sales	$ 1,334,223	$ 1,163,466	[1]	$ 1,119,138	[1]
Cost of sales	999,709	869,736	[1]	845,647	[1]
Gross profit	334,514	293,730	[1]	273,491	[1]
Selling, general and administrative expenses	202,939	184,199	[1]	172,921	[1]
Amortization expense	14,637	14,746	[1]	5,658	[1]
Income from operations	116,938	94,785	[1]	94,912	[1]
Interest expense	(10,533)	(15,837)	[1]	(10,747)	[1]
Interest income	1,149	1,366	[1]	1,229	[1]
Other income	1,944	(557)	[1]	(795)	[1]
Income before income taxes	109,498	79,757	[1]	84,599	[1]
Provision for income taxes	29,253	21,953	[1]	21,496	[1]
Net income	$ 80,245	$ 57,804	[1]	$ 63,103	[2]
Net income per common share:
Basic (in dollars per share)	$ 6.78	$ 4.91	[1]	$ 5.38	[1]
Diluted (in dollars per share)	$ 6.75	$ 4.88	[1]	$ 5.35	[1]
Average common shares:
Basic (in shares)	11,837	11,782	[1]	11,729	[1]
Diluted (in shares)	11,896	11,845	[1]	11,800	[1]
Vegetation Management
Net sales:
Net sales	$ 812,676	$ 654,630	[1]	$ 502,194	[1]
Income from operations	78,917	46,651		34,035
Industrial Equipment
Net sales:
Net sales	521,547	508,836	[1]	616,944	[1]
Income from operations	$ 38,021	$ 48,134		$ 60,877
[1]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.
[2]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 80,245	$ 57,804	[1]	$ 63,103	[2]
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment, net of tax (expense) benefit of $(344), $810, and zero	(15,800)	8,862	[3]	3,363	[3]
Unrealized income (loss) on derivative instruments, net of tax (expense) benefit of $(1,405), $1,842, and zero, respectively	5,298	(7,484)	[3]	610	[3]
Recognition of deferred pension and other post-retirement benefits, net of tax (expense) benefit of $(356), $230, and $703, respectively	1,838	(866)	[3]	20	[3]
Other comprehensive (loss) income, net of tax	(8,664)	512	[3]	3,993	[3]
Comprehensive income	$ 71,581	$ 58,316	[3]	$ 67,096	[3]
[1]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.
[2]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.
[3]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax expense	$ (344)	$ 810	$ 0
Unrealized gain (loss) on derivative instruments	(1,405)	1,842	0
Net gain on pension and other post-retirement benefits	$ (356)	$ 230	$ 703

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands		Total		Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income
Beginning balance (in shares) at Dec. 31, 2018	[1]			11,620
Beginning balance at Dec. 31, 2018	[1]	$ 515,360		$ 1,166	$ 108,422	$ (426)	$ 451,029	$ (44,831)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income	[1]	67,096					63,103	3,993
Stock-based compensation expense	[1]	3,269			3,269
Stock-based compensation transactions (in shares)	[1]			90
Stock-based compensation transactions	[1]	1,984		$ 9	1,975
Repurchased shares (in shares)	[1]			(40)
Repurchased shares	[1]	(4,140)				(4,140)
Dividends paid	[1]	(5,626)					(5,626)
Ending balance (in shares) at Dec. 31, 2019	[1]			11,670
Ending balance at Dec. 31, 2019	[1]	577,943		$ 1,175	113,666	(4,566)	508,506	(40,838)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income	[1]	58,316					57,804	512
Stock-based compensation expense	[1]	4,119			4,119
Stock-based compensation transactions (in shares)	[1]			57
Stock-based compensation transactions	[1]	749		$ 6	743
Repurchased shares (in shares)	[1]			0
Repurchased shares	[1]	0				0
Dividends paid	[1]	(6,124)					(6,124)
Ending balance (in shares) at Dec. 31, 2020	[1]			11,727
Ending balance at Dec. 31, 2020	[1]	635,003	[2]	$ 1,181	118,528	(4,566)	560,186	(40,326)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income		71,581					80,245	(8,664)
Stock-based compensation expense		5,987			5,987
Stock-based compensation transactions (in shares)				64
Stock-based compensation transactions		(281)		$ 6	(287)
Dividends paid		(6,627)					(6,627)
Ending balance (in shares) at Dec. 31, 2021				11,791
Ending balance at Dec. 31, 2021		$ 705,663		$ 1,187	$ 124,228	$ (4,566)	$ 633,804	$ (48,990)
[1]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.
[2]	Years ended December 31, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Dividends paid (in dollars per share)	$ 0.56	$ 0.52	$ 0.48

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019
Operating Activities
Net income		$ 80,245	$ 57,804	[1]	$ 63,103	[2]
Adjustments to reconcile net income to cash provided by operating activities:
Provision for doubtful accounts		506	860	[2]	575	[2]
Depreciation - PP&E		21,229	19,264	[2]	14,934	[2]
Depreciation - Rental		8,613	9,830	[2]	9,373	[2]
Amortization of intangibles		14,637	14,746	[2]	5,658	[2]
Amortization of debt issuance		667	634	[2]	295	[2]
Stock-based compensation expense		5,987	4,119	[2]	3,269	[2]
Provision for deferred income tax (benefit) expense		(1,182)	(855)	[2]	3,383	[2]
Gain on sale of property, plant and equipment		(3,779)	(1,094)	[2]	(912)	[2]
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable		(27,571)	28,064	[2]	11,447	[2]
Inventories		(78,463)	38,275	[2]	393	[2]
Rental equipment		1,138	4,542	[2]	(20,729)	[2]
Prepaid expenses and other		(6,994)	6,373	[2]	(4,633)	[2]
Trade accounts payable and accrued liabilities		32,532	(3,783)	[2]	6,397	[2]
Income taxes payable		4,648	6,601	[2]	(4,861)	[2]
Long term tax payable		462	(3,478)	[2]	(1,082)	[2]
Other assets and liabilities, net		(3,008)	2,431	[2]	2,203	[2]
Net cash provided by operating activities		49,667	184,333	[2]	88,813	[2]
Investing Activities
Acquisitions, net of cash acquired		(17,798)	0	[2]	(400,784)	[2]
Purchase of property, plant and equipment		(25,263)	(17,874)	[2]	(31,337)	[2]
Proceeds from sale of property, plant and equipment		9,667	3,703	[2]	2,277	[2]
Purchase of patents		(44)	0	[2]	(96)	[2]
Net cash used in investing activities		(33,438)	(14,171)	[2]	(429,940)	[2]
Financing Activities
Borrowings on bank revolving credit facility		188,000	115,000	[2]	217,000	[2]
Repayment on bank revolving credit facility		(189,000)	(255,000)	[2]	(157,000)	[2]
Principal payments on long-term debt and capital leases		(15,093)	(18,867)	[2]	(122)	[2]
Proceeds from issuance of long-term debt		0	0	[2]	300,002	[2]
Debt issuance cost		0	0	[2]	(2,875)	[2]
Dividends paid		(6,627)	(6,124)	[2]	(5,626)	[2]
Proceeds from exercise of stock options		1,676	1,459	[2]	2,573	[2]
Treasury stock repurchased		0	0	[2]	(4,140)	[2]
Common stock repurchased		(1,957)	(710)	[2]	(589)	[2]
Net cash used in financing activities		(23,001)	(164,242)	[2]	349,223	[2]
Effect of exchange rate changes on cash		(1,308)	1,964	[2]	172	[2]
Net change in cash and cash equivalents		(8,080)	7,884	[2]	8,268	[2]
Cash and cash equivalents at beginning of the year	[2]	50,195	42,311		34,043
Cash and cash equivalents at end of the year		42,115	50,195	[2]	42,311	[2]
Cash paid during the year for:
Interest		10,248	17,049	[2]	9,455	[2]
Income taxes		$ 32,865	$ 17,140	[2]	$ 23,099	[2]
[1]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.
[2]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Description of the Business and Segments The Company manufactures, distributes and services high quality tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, forestry and tree maintenance equipment, snow removal equipment, leaf collection equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket parts and services. The Company manages its business through two principal reporting segments: Vegetation Management and Industrial Equipment, which are discussed in Note 18 . Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements include the accounts of Alamo Group Inc. and its subsidiaries (the “Company” or “Alamo Group”), all of which are wholly owned. All intercompany accounts and transactions have been eliminated in consolidation. Reclassifications At the beginning of the fourth quarter of 2021, the Company began reporting operating results on the basis of two new segments, the Vegetation Management Division and the Industrial Equipment Division. Prior to the fourth quarter of 2021, the Company had been reporting its operating results on the basis of two segments, the Industrial and Agricultural Divisions. The realignment into these two new segments will allow the Company to capture synergies in areas such as cross-branding, distribution and product development. The prior period segment information has been retrospectively adjusted to reflect the current segment presentation in Note 18 to the Consolidated Financial Statements. Use of Estimates The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the amount of assets, liabilities, revenues, and expenses reported in the financial statements and accompanying notes. Judgments related to asset impairment and certain reserves are particularly subject to change. Actual results could differ from those estimates. Such estimates include, but are not limited to, allowance for doubtful accounts, reserve for sales discounts, estimated realizable value on obsolete and slow-moving inventory, warranty reserve, estimates related to pension accounting, estimates related to fair value for purposes of assessing goodwill, long-lived assets and intangible assets for impairment, estimates related to income taxes, and estimates related to contingencies. Foreign Currency The Company translates the assets and liabilities of foreign-owned subsidiaries at rates in effect at the end of the year. Revenues and expenses are translated at average rates in effect during the reporting period. Translation adjustments are included in Accumulated other comprehensive income (loss). Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less from the date of purchase to be cash equivalents. As of December 31, 2021 and December 31, 2020, there was no restricted cash. Concentrations of Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of accounts receivable. The credit risk is limited because of the large numbers and types of customers and their geographic dispersion. Inventory Valuation Inventories are stated at the lower of cost or net realizable value. Effective July 1, 2021, the Company changed its method of accounting for its U.S. inventories currently accounted for under the LIFO method to the FIFO method. Total U.S. inventories that utilized the LIFO cost method represented 41% of the Company's total inventory as of December 31, 2020 prior to this change in method. The Company believes the FIFO method is preferable because it: (i) more accurately matches cost of sales with the related revenues as the FIFO method more accurately resembles the physical flow of inventory and; (ii) conforms all of the Company’s consolidated inventory to a single method of accounting. The Company also notes that the revised policy improves comparability with many of the Company's peers. The Company applied this change retrospectively to all periods presented. There was an immaterial impact to the Company’s Consolidated Income Statement and Consolidated Statement of Cash Flows for the twelve months ended December 31, 2021, 2020 and 2019. The following financial statement line items in the Company's Consolidated Balance Sheet as of December 31, 2020 was adjusted as follows: Consolidated Balance Sheets December 31, 2020 (in thousands) As Originally Reported Effect of Change As Adjusted Inventories, net $ 229,971 $ 12,530 $ 242,501 Deferred income taxes (liability) 19,642 3,170 22,812 Retained earnings 550,826 9,360 560,186 Property, Plant and Equipment Property, plant, and equipment are stated on the basis of cost. Major renewals and betterments are charged to the property accounts, while replacements, maintenance and repairs, which do not improve or extend the lives of the respective assets, are expensed to the current period. Depreciation is provided at amounts calculated to amortize the cost of the assets over their estimated useful economic lives using the straight-line method. Impairment of Long-Lived Assets Long-lived assets, such as property, plant and equipment, rental equipment, and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares non-discounted cash flows expected to be generated by that asset group to its carrying amount. If the carrying amount of the long-lived asset or asset group is not recoverable on a non-discounted cash flow basis, an impairment is recognized to the extent that the carrying amount exceeds fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. Goodwill Goodwill represents the excess of the purchase price over the estimated fair value of the identifiable net assets acquired. Goodwill is not amortized but is instead tested for impairment at least annually, or whenever events or circumstances change between the annual impairment tests that make it likely that an impairment may have occurred, such as a significant adverse change in the business climate or a decision to sell all or a portion of a reporting unit. The Company performs its annual test for goodwill impairment related to its reporting units on October 1 of each fiscal year. Impairment testing for goodwill is done at the reporting unit level. A reporting unit is an operating segment or one level below an operating segment (also known as a component). A component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available, and segment management regularly reviews the operating results of that component. We perform a qualitative assessment for all of our reporting units to determine whether it is more likely than not that an impairment exists. Factors considered include macroeconomic, industry and competitive conditions, legal and regulatory environment, historical financial performance and significant changes in the reporting unit. If the qualitative assessment indicates that it is more likely than not that an impairment exists, then a quantitative assessment is performed. Alternatively, we may also bypass the qualitative assessment and go ahead and perform step 1 to determine if the carrying amount exceeds the reporting unit’s fair value. If the fair value of the reporting unit is lower than its carrying amount, goodwill is written down for the amount by which the carrying amount exceeds the fair value. However, the loss recognized cannot exceed the carrying amount of goodwill. We typically use discounted cash flow models to determine the fair value of a reporting unit. The assumptions used in these models are consistent with those we believe a hypothetical marketplace participant would use. See Note 8 to the Consolidated Financial Statements for more information regarding goodwill. Intangible Assets The Company has intangible assets with both definite and indefinite useful lives. The definite-lived assets are trade names and trademarks, customer and dealer relationships, and patents and drawings that are subject to amortization with useful lives ranging from 3 years to 25 years. Impairment of definite-lived assets is discussed as part of the Impairment of Long-Lived Assets paragraph above. The indefinite-lived assets not subject to amortization consist of trade names. The Company tests its indefinite-lived intangible assets for impairment on an annual basis at year-end, or more frequently if an event occurs or circumstances change that indicate that the fair value of an indefinite-lived intangible asset could be below its carrying amount. The impairment test consists of comparing the fair value of the indefinite-lived intangible asset, determined using the relief from royalty method, with its carrying amount. An impairment loss would be recognized for the carrying amount in excess of its fair value. See Note 9 to the Consolidated Financial Statements for more information regarding intangible assets. Leases We determine if an arrangement is a lease at inception. Operating leases are included in other non-current assets, accrued liabilities, and other long-term liabilities on our consolidated balance sheets. Finance leases are included in property, plant and equipment, accrued liabilities, and other long-term liabilities on our consolidated balance sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. We have elected to not account for the lease and non-lease components separately for most of our asset classes with the exception of real-estate. We have also elected to exclude all lease agreements with an initial term of 12 months or less from the lease recognition requirements as allowed by ASC. See Note 10 to the Consolidated Financial Statements for more information regarding leases. Pensions The Company records annual amounts relating to its pension and post-retirement plans based on calculations that incorporate various actuarial and other assumptions, including discount rates, mortality, assumed rates of return, compensation increases, turnover rates and health care cost trend rates. The Company reviews its assumptions on an annual basis and makes modifications to the assumptions based on current rates and trends when it is appropriate to do so. The effect of modifications to those assumptions is recorded in Accumulated other comprehensive income (loss) and amortized to net periodic cost over future periods using the corridor method. The Company believes that the assumptions utilized in recording its obligations under its plans are reasonable based on its experience and market conditions. The net periodic costs are recognized as employees render the services necessary to earn the post-retirement benefits. Revenue Recognition The majority of the Company's revenue is recognized from product sales under contracts with customers. The Company presents two reportable operating segments within its financial statements: Vegetation Management and Industrial Equipment. Contract terms and performance obligations within each contractual agreement are generally consistent for both divisions, with small differences that do not have a significant impact on the revenue recognition considerations under Topic 606. Revenues are recognized when we satisfy our performance obligation to transfer product to our customers, which typically occurs at a point in time upon shipment or delivery of the product, and for an amount that reflects the transaction price that is allocated to the performance obligation. Our contracts with customers state the final terms of sale, including the description, quantity and price for goods sold. In the normal course of business, we generally do not accept product returns. The transaction price is the consideration that we expect to be entitled to in exchange for our products. Some of our contracts contain variable consideration in the form of sales incentives to our customers, such as discounts and rebates. For contracts that include variable consideration, we estimate the factors that determine the variable consideration in order to establish the transaction price. We have elected that any taxes collected from customers and remitted to government authorities (i.e., sales tax, use tax, etc.) are excluded from the measurement of the transaction price and therefore are excluded from net sales in the consolidated statements of operations. There are instances where we provide shipping services in relation to the goods sold to our customers. Shipping and handling costs that occur before the customer obtains control of the goods are deemed to be fulfillment activities and are included in cost of goods sold. We have elected to account for shipping and handling activities that occur after the customer has obtained control of a good as fulfillment activities (i.e., an expense) rather than as a promised service. Rental Equipment The Company enters into operating lease agreements with customers related to the rental of certain equipment. In accounting for these leases, the cost of the equipment purchased or manufactured by the Company is recorded as an asset, and is depreciated over its estimated useful life. Accumulated depreciation relating to the rental equipment was $20.1 million and $18.0 million on December 31, 2021 and December 31, 2020, respectively. Shipping and Handling Costs The Company’s policy is to include shipping and handling costs in costs of goods sold. Advertising We charge advertising costs to expense as incurred. Advertising and marketing expense related to operations for fiscal years 2021, 2020, and 2019 was approximately $10.2 million, $10.1 million and $12.2 million, respectively. Advertising and marketing expenses are included in Selling, General and Administrative expenses (“SG&A”). Research and Development Product development and engineering costs charged to SG&A amounted to $11.7 million, $12.4 million, and $12.0 million for the years ended December 31, 2021, 2020, and 2019, respectively. Commitments and Contingencies Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. The Company's policy is to accrue for legal costs expected to be incurred in connection with loss contingencies. Income Taxes Deferred tax assets and liabilities are determined based on differences between the financial reporting basis and tax basis of assets and liabilities, and are measured by applying enacted statutory tax rates applicable to the future years in which deferred tax assets or liabilities are expected to be settled or realized. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversals of deferred tax liabilities, projected future taxable income, available tax carrybacks and tax planning strategies in making this assessment other than those which we have reserved. We have elected to treat the global intangible low-taxed income (GILTI) tax as a period expense. Stock-Based Compensation The Company has granted options to purchase its common stock, restricted stock awards, restricted stock units, and performance stock units to certain employees and directors of the Company and its affiliates under various stock option plans at no less than the fair market value of the underlying stock on the date of grant. These options are granted for a term not exceeding ten years and are forfeited in the event that the employee or director terminates his or her employment or relationship with the Company or one of its affiliates other than by retirement or death. These options generally vest over five years. All option plans contain anti-dilutive provisions that permit an adjustment of the number of shares of the Company’s common stock represented by each option for any change in capitalization. The fair value of each stock option is estimated on the date of grant using the Black-Scholes valuation method with the following assumptions noted: 1. The risk-free rate is based on the U.S. Treasury rate over the expected life of the option at the time of the grant. 2. The dividend yield is calculated as the ratio of dividends paid per share of common stock to the stock price on the date of the grant. 3. The expected volatility factors are based on the historical movement of the Company’s common stock price over the expected life of the option. 4. The expected life is the average length of time in which officers, other employees, and non-employee directors are expected to exercise their options, and which are primarily based on historical experience. The Company calculated the fair value for options with the following weighted-average assumptions for 2021, 2020, and 2019: Fair Value Calculation Assumptions for Stock Compensation December 31, 2021 2020 2019 Risk-free interest rate 1.25 % 1.22 % 2.43 % Dividend yield 0.4 % 0.5 % 0.5 % Volatility factors 33.9 % 30.0 % 31.2 % Weighted-average expected life 8.0 years 8.0 years 8.0 years Earnings per Common Share (“EPS”) Basic EPS is computed using the weighted-average number of common shares outstanding during the year. The treasury stock method is used to compute diluted EPS which gives effect to the potential dilution of earnings that could have occurred if additional shares were issued for awards granted under the Company’s incentive stock option plans. The treasury stock method assumes that proceeds obtained upon exercise of awards granted under the incentive stock option plans are used to purchase outstanding common stock at the average market price during the period.

Accounting Pronouncements

Accounting Pronouncements	12 Months Ended
	Dec. 31, 2021
Accounting Changes and Error Corrections [Abstract]
ACCOUNTING PRONOUNCEMENTS	ACCOUNTING PRONOUNCEMENTS Accounting Pronouncements Adopted on January 1, 2021 In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes” to simplify the accounting for income taxes. The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This guidance became effective for us on January 1, 2021. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements. Accounting Pronouncements Not Yet Adopted

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
BUSINESS COMBINATIONS	BUSINESS COMBINATIONS On October 26, 2021, the Company acquired 100% of the issued and outstanding equity interests of Timberwolf Limited (“ Timberwolf ”). Timberwolf manufactures a broad range of commercial wood chippers, primarily serving markets in the U.K. and the European Union. The primary reason for the Timberwolf acquisition was to enhance the Company's forestry and tree care platform for growth by increasing both the Company's product portfolio and capabilities in the European market. The acquisition price was approximately $25.0 million. The Company has included the operating results of Timberwolf in its consolidated financial statements since the date of acquisition, these results are considered immaterial.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table sets forth the reconciliation from basic to diluted average common shares and the calculations of net income per common share. Net income for basic and diluted calculations does not differ. (in thousands, except per share amounts) 2021 2020 2019 Net income $ 80,245 $ 57,804 $ 63,103 Average common shares: Basic (weighted-average outstanding shares) 11,837 11,782 11,729 Dilutive potential common shares from stock options 59 63 71 Diluted (weighted-average outstanding shares) 11,896 11,845 11,800 Basic earnings per share $ 6.78 $ 4.91 $ 5.38 Diluted earnings per share $ 6.75 $ 4.88 $ 5.35 Stock options totaling 15,586 shares in 2021, 9,864 shares in 2020, and 4,244 shares in 2019 were not included in the diluted earnings per share calculation because the effect would have been anti-dilutive.

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
VALUATION AND QUALIFYING ACCOUNTS	VALUATION AND QUALIFYING ACCOUNTS Valuation and qualifying accounts included the following: (in thousands) Balance Beginning of Year Net Charged to Costs and Expenses Translations, Reclassifications and Acquisitions Net Write-Offs or Discounts Taken Balance End of Year 2021 Reserve for sales discounts $ 13,549 $ 116,114 $ (688) $ (116,408) $ 12,567 Reserve for inventory obsolescence 12,027 6,531 (146) (5,504) 12,908 Reserve for warranty 9,096 10,727 (132) (9,738) 9,953 2020 Reserve for sales discounts $ 16,883 $ 93,398 $ 15 $ (96,747) $ 13,549 Reserve for inventory obsolescence 8,233 4,609 1,471 (2,286) 12,027 Reserve for warranty 10,249 8,466 247 (9,866) 9,096 2019 Reserve for sales discounts $ 18,123 $ 91,962 $ 39 $ (93,241) $ 16,883 Reserve for inventory obsolescence 7,194 5,711 6,467 (11,139) 8,233 Reserve for warranty 4,992 8,273 4,343 (7,359) 10,249 Sales Discounts On December 31, 2021, the Company had $12.6 million in reserves for sales discounts compared to $13.5 million on December 31, 2020 on product shipped to our customers under various promotional programs. The most common programs provide a discount when the customer pays within a specified period of time. The Company reviews the reserve quarterly based on analysis made on each program outstanding at the time. The cost of these discounts is estimated based on historical experience and known changes in promotional programs and is reported as a reduction to sales when the product sale is recognized. The reserve is adjusted if discounts paid differ from those estimated. Historically, those adjustments have not been material. Reserve for Inventory Obsolescence We value inventories at the lower of the cost of inventory or net realizable value. As needed, we record an inventory valuation adjustment for excess, slow moving, and obsolete inventory that is equal to the excess of the cost of the inventory over the estimated net realizable value. The inventory valuation adjustment to net realizable value establishes a new cost basis of the inventory that cannot be subsequently reversed. Such inventory valuation adjustments for excess, obsolete, and slow moving inventory are not reduced or removed until the product is sold or disposed of. The Company had a reserve of $12.9 million on December 31, 2021 and $12.0 million on December 31, 2020 to cover obsolete and slow moving inventory. The increase in the reserve was primarily attributable to the Company's Industrial Equipment Division. The reserve for inventory obsolescence is calculated as follows: 1) no inventory usage over a three-year period is deemed obsolete and reserved at 100%; and 2) slow moving inventory with little usage requires a 100% reserve on items that have a quantity greater than a three-year supply. There are exceptions to the obsolete and slow moving classifications if approved by an officer of the Company, based on specific identification of an item or items that are deemed to be either included or excluded from this classification. In cases where there is no historical data, management makes a judgment based on a specific review of the inventory in question to determine what reserves, if any, are appropriate. New products or parts are generally excluded from the reserve until a three-year history has been established. Warranty The Company’s warranty policy is generally to provide its customers warranty for up to one year on all wholegood units and 90 days on parts, though some components can have warranty for longer terms. Warranty reserve, as a percentage of sales, is generally calculated by looking at the current twelve months’ expenses and prorating that amount based on twelve months’ sales with a three three The current liability warranty reserve balance was $10.0 million on December 31, 2021 and $9.1 million on December 31, 2020 and is included in Note 11

Inventories

Inventories	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consisted of the following: December 31, (in thousands) 2021 2020 Finished goods and parts $ 277,760 $ 208,656 Work in process 24,895 21,225 Raw materials 18,262 12,620 Inventory, net $ 320,917 $ 242,501

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following: December 31, (in thousands) 2021 2020 Useful Lives Land $ 12,838 $ 14,908 Buildings and improvements 145,086 149,048 5-20 yrs. Machinery and equipment 129,901 116,825 3-10 yrs. Office furniture and equipment 13,291 11,743 3-7 yrs. Computer software 12,384 12,276 3-7 yrs. Transportation equipment 8,363 7,562 3 yrs. Property, plant and equipment, at cost 321,863 312,362 Accumulated depreciation (169,372) (156,928) Property, plant and equipment, net $ 152,491 $ 155,434

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL The changes in the carrying amount of goodwill for the year ended December 31, 2019, 2020, and 2021 are as follows: Vegetation Management Industrial Equipment Consolidated (in thousands) Balance at December 31, 2018 $ 16,751 $ 66,492 $ 83,243 Translation adjustment (72) 92 20 Goodwill acquired 110,215 4,544 114,759 Balance at December 31, 2019 $ 126,894 $ 71,128 $ 198,022 Translation adjustment 132 1,036 1,168 Goodwill adjustment (2,045) (2,013) (4,058) Balance at December 31, 2020 $ 124,981 $ 70,151 $ 195,132 Translation adjustment (1,510) (708) (2,218) Goodwill acquired 9,492 — 9,492 Balance at December 31, 2021 $ 132,963 $ 69,443 $ 202,406

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	INTANGIBLE ASSETS The following is a summary of the Company's intangible assets net of the accumulated amortization: (in thousands) Estimated Useful Lives December 31, 2021 December 31, 2020 Definite: Trade names and trademarks 15-25 years $ 68,321 $ 67,770 Customer and dealer relationships 8-15 years 126,104 122,470 Patents and developed technologies 3-12 years 29,338 28,764 Favorable leasehold interests 7 years 4,200 4,200 Total at cost 227,963 223,204 Less accumulated amortization (49,997) (35,532) Total net 177,966 187,672 Indefinite: Trade names and trademarks 5,500 5,500 Total Intangible Assets $ 183,466 $ 193,172 The Company's net carrying value at December 31, 2021 of intangible assets with definite useful lives consists of trade names and trademarks at $57.2 million, customer and dealer relationships at $95.8 million, patents and drawings at $22.1 million, and favorable leasehold interests at $2.9 million. As of December 31, 2021, the related accumulated amortization balance for the definite-lived assets were $11.1 million for trade names and trademarks, $30.4 million for customer and dealer relationships, $7.2 million for patents and drawings, and $1.3 million for favorable leasehold interests. The Company estimates amortization expense to be $14.5 million for each of the next five years. Indefinite-lived trade names and trademarks consisted of the Gradall trade name with a carrying value of $3.6 million and the Bush Hog

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
LEASES	LEASES Leases The Company leases office space and equipment under various operating and capital leases, which generally are expected to be renewed or replaced by other leases. As of December 31, 2021, the components of lease cost were as follows: Components of Lease Cost Twelve Months Ended December 31, (in thousands) 2021 2020 Finance lease cost: Amortization of right-of-use assets $ 67 $ 89 Interest on lease liabilities 3 7 Operating lease cost 5,571 4,824 Short-term lease cost 1,033 818 Variable lease cost 410 487 Total lease cost $ 7,084 $ 6,225 As of December 31, 2021, future minimum lease payments under these non-cancelable leases are: Future Minimum Lease Payments (in thousands) Operating Leases 2022 $ 4,949 2023 3,793 2024 2,683 2025 2,036 2026 1,652 Thereafter 3,090 Total minimum lease payments $ 18,203 Less imputed interest (1,311) Total lease liabilities $ 16,892 Rental expense for operating leases was $7.0 million for 2021, $6.1 million for 2020, and $5.5 million for 2019. Future Lease Commencements As of December 31, 2021, we have additional operating leases that have not yet commenced in the amount of $4.2 million. These operating leases will commence in fiscal year 2022. Supplemental balance sheet information related to leases was as follows: Operating Leases December 31, (in thousands) 2021 2020 Other non-current assets $ 16,744 $ 14,144 Accrued liabilities 4,655 3,680 Other long-term liabilities 12,237 10,565 Total operating lease liabilities $ 16,892 $ 14,245 Weighted average remaining lease term 5.14 years 5.83 years Weighted average discount rate 2.83 % 3.04 % Supplemental cash flow information related to leases was as follows: Twelve Months Ended December 31, (in thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 5,013 4,487
LEASES	LEASES Leases The Company leases office space and equipment under various operating and capital leases, which generally are expected to be renewed or replaced by other leases. As of December 31, 2021, the components of lease cost were as follows: Components of Lease Cost Twelve Months Ended December 31, (in thousands) 2021 2020 Finance lease cost: Amortization of right-of-use assets $ 67 $ 89 Interest on lease liabilities 3 7 Operating lease cost 5,571 4,824 Short-term lease cost 1,033 818 Variable lease cost 410 487 Total lease cost $ 7,084 $ 6,225 As of December 31, 2021, future minimum lease payments under these non-cancelable leases are: Future Minimum Lease Payments (in thousands) Operating Leases 2022 $ 4,949 2023 3,793 2024 2,683 2025 2,036 2026 1,652 Thereafter 3,090 Total minimum lease payments $ 18,203 Less imputed interest (1,311) Total lease liabilities $ 16,892 Rental expense for operating leases was $7.0 million for 2021, $6.1 million for 2020, and $5.5 million for 2019. Future Lease Commencements As of December 31, 2021, we have additional operating leases that have not yet commenced in the amount of $4.2 million. These operating leases will commence in fiscal year 2022. Supplemental balance sheet information related to leases was as follows: Operating Leases December 31, (in thousands) 2021 2020 Other non-current assets $ 16,744 $ 14,144 Accrued liabilities 4,655 3,680 Other long-term liabilities 12,237 10,565 Total operating lease liabilities $ 16,892 $ 14,245 Weighted average remaining lease term 5.14 years 5.83 years Weighted average discount rate 2.83 % 3.04 % Supplemental cash flow information related to leases was as follows: Twelve Months Ended December 31, (in thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 5,013 4,487

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
ACCRUED LIABILITIES	ACCRUED LIABILITIES Accrued liabilities consist of the following balances: December 31, (in thousands) 2021 2020 Salaries, wages and bonuses $ 37,462 $ 31,658 Lease liability 4,655 3,680 Taxes 1,902 5,907 Warranty 9,953 9,096 Retirement provision 2,967 3,252 Customer deposits 6,383 1,385 Other 10,201 9,656 Accrued liabilities $ 73,523 $ 64,634

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS U.S. GAAP requires or permits certain assets or liabilities to be measured at fair value on a recurring or non- recurring basis in our balance sheets. U.S. GAAP also requires the disclosure of the fair values of financial instruments when an option to elect fair value accounting has been provided but such election has not been made. A debt obligation is an example of such a financial instrument. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. There is a three-tier fair value hierarchy based upon the observability of inputs used in valuation techniques. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed market assumptions. In fair value, measurements are classified under the following hierarchy: Level 1 – Quoted prices for identical assets or liabilities in active markets. Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs or significant value-drivers are observable in active markets. Level 3 – Model-derived valuations in which one or more significant inputs or significant value-drivers are unobservable. When measuring fair value, the Company maximizes use of observable inputs and minimizes the use of unobservable inputs. Fair value measurements are classified to the lowest level input or value-driver that is significant to the valuation. A measurement may therefore be classified within Level 3 even though there may be significant inputs that are readily observable. The carrying values of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses, approximate fair value because of the short-term nature of these items. The carrying value of our debt approximates the fair value as of December 31, 2021 and 2020, as the floating rates on our outstanding balances approximate current market rates. This conclusion was made based on Level 2 inputs. Fair values determined by Level 2 utilize inputs that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Other than the investments held by the retirement benefit plans, as described in Note 17 to the Consolidated Financial Statements, the Company does not have any other significant financial assets or liabilities measured at fair value on a recurring basis. The Company has no recurring or nonrecurring valuations that fall under Level 3 of the fair value hierarchy as of December 31, 2021 and 2020.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT The components of long-term debt are as follows: December 31, (in thousands) 2021 2020 Bank revolving credit facility $ 4,000 $ 5,000 Term debt 265,498 280,233 Capital lease obligations 56 153 Total debt 269,554 285,386 Less current maturities 15,032 15,066 Total long-term debt $ 254,522 $ 270,320 On October 24, 2019, the Company, as Borrower, and each of its domestic subsidiaries as guarantors, entered into a Second Amended and Restated Credit Agreement (the Credit Agreement ) with Bank of America, N.A., as Administrative Agent. The Credit Agreement provides the Company with the ability to request loans and other financial obligations in an aggregate amount of up to $650.0 million and, subject to certain conditions, the Company has the option to request an increase in aggregate commitments of up to an additional $200.0 million. Pursuant to the Credit Agreement, the Company has borrowed $300.0 million pursuant to a Term Facility repayable with interest quarterly at a percentage of the initial principal amount of the Term Facility of 5.0% per year with the remaining principal due in 5 years. Up to $350.0 million is available under the Credit Agreement pursuant to a Revolver Facility which terminates in 5 years. Outstanding loans under the revolving credit facility bear interest at a variable rate generally based on LIBOR or an alternative variable rate based on the highest of the Bank of America prime rate, the federal funds rate or a rate generally based on LIBOR, in each case depending on the leverage ratio. The Agreement requires the Company to maintain two financial covenants - a maximum leverage ratio and a minimum asset coverage ratio. The Agreement also contains various covenants relating to limitations on indebtedness, limitations on investments and acquisitions, limitations on sale of properties and limitations on liens and capital expenditures. The Agreement also contains other customary covenants, representations and events of defaults. The expiration date of the Term Facility and the Revolver Facility is October 24, 2024. As of December 31, 2021, $269.5 million was outstanding under the Credit Agreement. Of the total outstanding, $265.5 million was on the Term Facility at a rate of 1.60% and $4.0 million was on the Revolver Facility at a rate of 3.75%. On December 31, 2021, $2.4 million of the revolver capacity was committed to irrevocable standby letters of credit issued in the ordinary course of business as required by vendors' contracts resulting in $255.0 million in available borrowings. The Company is in compliance with the covenants under the Credit Agreement.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income Statement Components Earnings before income taxes were as follows: December 31, (in thousands) 2021 2020 2019 Income before income taxes: Domestic $ 74,070 $ 50,977 $ 54,830 Foreign 35,428 28,780 29,769 $ 109,498 $ 79,757 $ 84,599 The components of income tax expense (benefit) were as follows: December 31, (in thousands) 2021 2020 2019 Current: Domestic $ 16,846 $ 10,823 $ 6,403 Foreign 8,646 8,759 8,419 State 4,943 3,226 3,291 30,435 22,808 18,113 Deferred: Domestic (679) 1,238 3,906 Foreign (274) (1,199) (280) State (229) (894) (243) (1,182) (855) 3,383 Total income taxes $ 29,253 $ 21,953 $ 21,496 A reconciliation of the income tax at the Company’s U.S. statutory federal income tax rate to the provision for income taxes follows: December 31, (in thousands) 2021 2020 2019 Income tax expense at statutory rates $ 22,995 $ 16,749 $ 17,765 Increase (reduction) from: Jurisdictional rate differences 1,599 1,034 988 Executive compensation limitation 1,314 170 715 Stock based compensation (322) (366) (358) U.S. state taxes 3,724 2,556 3,137 Foreign tax expense — 704 — R&D credit (670) (415) (699) GILTI — 50 872 Previously unrecognized tax (benefit)/expense 8 2,219 (1,504) Other, net 605 (748) 580 Provision for income taxes $ 29,253 $ 21,953 $ 21,496 Effective tax rate 27 % 28 % 25 % Deferred Income Tax Assets and Liabilities The components of the Company’s deferred income tax assets and liabilities were as follows: December 31, (in thousands) 2021 2020 Deferred income tax assets: Inventory basis difference $ 892 $ 519 Accounts receivable reserve 240 255 Rental equipment and Property, plant and equipment 201 144 Stock based compensation 688 606 Pension liability 3,116 3,655 Employee benefit accrual 2,747 1,585 Product liability and warranty reserves 2,155 2,242 Foreign net operating loss 3,764 3,566 Lease liability 3,858 3,376 State net operating loss 157 148 Other 1,016 1,891 Total deferred income tax assets $ 18,834 $ 17,987 Less: Valuation allowance (4,129) (3,641) Net deferred income tax assets $ 14,705 $ 14,346 Deferred income tax liabilities: Inventory basis differences $ (165) $ (287) Rental equipment and Property, plant and equipment (13,844) (14,818) Lease asset (3,794) (3,351) Intangible assets (16,197) (16,496) Expenses not currently deductible for book purposes (1,053) (1,003) Total deferred income tax liabilities $ (35,053) $ (35,955) Net deferred income taxes $ (20,348) $ (21,609) As of December 31, 2021, the Company had foreign deferred tax assets consisting of foreign net operating losses and other tax benefits available to reduce future taxable income in a foreign jurisdiction. These foreign jurisdictions’ net operating loss carry-forwards are approximately $11.8 million with an unlimited carry-forward period, and $0.8 million with a carry-forward expiring in 2035. The Company also has U.S. state net operating loss carry-forwards in the amount of $3.6 million which will expire between 2022 and 2030. The Company's valuation allowances as of December 31, 2021 and 2020 related primarily to foreign net operating losses and foreign tax credits. Unrecognized Tax Benefits A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows. The Company does not expect the unrecognized tax benefits to change significantly over the next 12 months. Unrecognized Tax Benefits December 31, (in thousands) 2021 2020 Balance as of beginning of year $ 262 $ 262 Increases for tax positions related to the current year 82 88 Decreases due to lapse of statute of limitations (74) (88) Balance as of end of year $ 270 $ 262 The Company has adopted the policy to include interest and penalty expense related to income taxes as interest and other expense, respectively. As of December 31, 2021, no interest or penalties have accrued. With few exceptions, the Company’s open tax years for its federal and state income tax returns are for the tax years ended 2018 through 2021, and for tax years ended 2014 through 2021 for its foreign income tax returns. The Company currently intends to permanently reinvest its earnings in certain foreign subsidiaries. No U.S. corporate income taxes or foreign withholding taxes should be imposed on future distributions of the earnings not permanently reinvested. If the amounts asserted as permanent reinvestment were distributed, the Company would be subject to approximately $4.5 million in withholding taxes.

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
COMMON STOCK	COMMON STOCKOn January 3, 2022, the Board of Directors of the Company declared a quarterly dividend of $0.18 per share which was paid on February 1, 2022 to holders of record as of January 18, 2022. The Company also has a share repurchase program under which the Company is authorized to repurchase, in the aggregate, up to $30.0 million of its outstanding common stock. During 2021, the Company purchased zero shares.

Stock Options

Stock Options	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
STOCK OPTIONS	STOCK OPTIONS Incentive Stock Option Plan On May 7, 2015, the stockholders of the Company approved the 2015 Incentive Stock Option Plan (“2015 ISO Plan”) and the Company reserved 400,000 shares of common stock for options to be issued under the 2015 ISO Plan. Each option becomes vested and exercisable for up to 20% of the total optioned shares one year following the grant of the option and for an additional 20% of the total optioned shares after each succeeding year until the option is fully exercisable at the end of the fifth year. We also maintain other incentive option plans that have expired, under which previously granted awards remain outstanding. No additional grants may be awarded under these plans. Following is a summary of activity in the Incentive Stock Option Plans for the periods indicated: 2021 2020 2019 Shares Exercise Price* Shares Exercise Price* Shares Exercise Price* Options outstanding at beginning of year 100,920 $ 68.58 119,720 $ 57.65 140,170 $ 49.78 Granted 18,900 156.38 13,950 114.53 12,150 105.56 Exercised (30,210) 53.68 (31,300) 45.94 (28,100) 38.93 Canceled (2,000) 130.92 (1,450) 96.97 (4,500) 58.57 Options outstanding at end of year 87,610 91.24 100,920 68.58 119,720 57.65 Options exercisable at end of year 49,360 $ 61.21 67,700 $ 52.60 85,070 $ 47.10 Options available for grant at end of year 297,850 314,750 327,250 *Weighted Averages Options outstanding and exercisable at December 31, 2021 were as follows: Qualified Stock Options Options Outstanding Options Exercisable Shares Remaining Contractual Life (yrs)* Exercise Price* Shares Exercise Price* Range of Exercise Price $32.76 - $52.51 16,100 1.49 $ 40.88 16,100 $ 40.88 $53.51 - $80.27 19,800 3.35 $ 54.20 19,800 $ 54.20 $83.99 - $125.99 33,710 7.08 $ 102.27 13,460 $ 95.85 $156.38 - $234.57 18,000 9.16 $ 156.38 — $ — Total 87,610 49,360 *Weighted Averages The weighted-average grant-date fair values of options granted during 2021, 2020, and 2019 were $59.01, $38.33 and $39.85, respectively. Stock option expense was $0.6 million, $0.5 million and $0.5 million for years ending 2021, 2020, and 2019, respectively. As of December 31, 2021, there was $1.2 million of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the plans. That cost is expected to be recognized over a period of five years. Equity Incentive Plan On May 2, 2019, the stockholders of the Company approved the 2019 Equity Incentive Plan and the Company reserved 500,000 shares of common stock for issuance of equity awards including the issuance of non-qualified options for the purchase of shares of our common stock which may be granted to Company officers and non-employee directors. Options become vested and exercisable for up to 20% of the total optioned shares one year following the grant of the option and for an additional 20% of the total optioned shares after each succeeding year until the option is fully exercisable at the end of the fifth year. 2021 2020 2019 Options available for grant at end of year 423,969 455,549 499,640 We also maintain other incentive option plans that have expired, under which previously granted awards remain outstanding. No additional grants may be awarded under these plans. Non-Qualified Options Following is a summary of activity in the Non-Qualified Stock Option Plans for the periods indicated: 2021 2020 2019 Shares Exercise Price* Shares Exercise Price* Shares Exercise Price* Options outstanding at beginning of year 3,000 $ 53.51 5,300 $ 46.87 40,200 $ 42.99 Granted — — — — — — Exercised (1,000) 53.51 (2,300) 38.22 (34,900) 42.40 Canceled — — — — — — Options outstanding at end of year 2,000 53.51 3,000 53.51 5,300 46.87 Options exercisable at end of year 2,000 $ 53.51 3,000 $ 53.51 5,300 $ 46.87 *Weighted Averages Options outstanding and exercisable as of December 31, 2021 were as follows: Non-Qualified Stock Options Options Outstanding Options Exercisable Shares Remaining Contractual Life (yrs)* Exercise Price* Shares Exercise Price* Range of Exercise Price $53.51 - $80.27 2,000 2.36 $ 53.51 2,000 $ 53.51 Total 2,000 2,000 *Weighted Averages There were no options granted in 2019 , 2020 or 2021. Stock option expense was zero, zero and $0.01 million for years ending 2021, 2020, and 2019, respectively. As of December 31, 2021, there was zero unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the plans. During 2021, 2020, and 2019, 1,000, 2,300, and 34,900 non-qualified options were exercised, respectively, $0.1 million, $0.1 million, and $1.5 million of cash receipts were received, respectively. Restricted Stock Awards/Units Following is a summary of activity in the Restricted Stock Awards (" RSA ")/Units for the periods indicated: 2021 2020 2019 Shares Grant-Date Fair Value* Shares Grant-Date Fair Value* Shares Grant-Date Fair Value* Awards outstanding at beginning of year 91,043 $ 104.77 78,705 $ 94.34 75,636 $ 81.39 Granted 35,224 157.00 44,307 111.95 36,060 105.69 Exercised (45,651) 101.36 (31,594) 88.90 (32,466) 69.94 Canceled — — (375) 100.34 (525) 99.96 Awards outstanding at end of year 80,616 129.53 91,043 104.77 78,705 94.34 *Weighted Averages Restricted stock awards granted in 2019 vest 25% after one year following the award date and for an additional 25% of total awarded shares each succeeding year until fully vested. Restricted stock awards granted in 2020 and 2021 vest over a three year period. The weighted-average remaining contractual life in years for 2021, 2020 and 2019 was 1.61, 1.95 and 2.48, respectively. Compensation expense was $5.4 million, $3.7 million and $2.8 million for years ending 2021, 2020, and 2019, respectively. As of December 31, 2021, there was $6.3 million of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the plans. The cost for awards granted prior to 2020 is expected to be recognized over a period of four years. In 2020, the Board of Directors modified the vesting period for new RSA 's granted to three years to be inline with grants of future performance stock units. Performance Stock Units In 2020, the Company's Board of Directors approved a change to our long-term incentive compensation plan to implement new performance-based equity grants in the form of a Performance Stock Unit ("PSU") award. PSU award vesting and payout amounts are tied to the Company's achievement of certain targeted financial metrics relating to a three-year performance period with the goal of more closely aligning executive compensation with long-term Company performance. The 2020 target long-term incentive compensation mix established for the Company's Section 16 filers consists of RSAs and PSUs each representing fifty percent (50%) of the total long-term incentive compensation target value.

Retirement Benefit Plans

Retirement Benefit Plans	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
RETIREMENT BENEFIT PLANS	RETIREMENT BENEFIT PLANS Defined Benefit Plans In connection with the February 3, 2006 purchase of all the net assets of the Gradall excavator business, the Company assumed sponsorship of two Gradall non-contributory defined benefit pension plans, both of which are frozen with respect to both future benefit accruals and future new entrants. The Gradall Company Employees’ Retirement Plan covers approximately 248 former employees and 55 current employees who (i) were formerly employed by JLG Industries, Inc., (ii) were not covered by a collective bargaining agreement and (iii) first participated in the plan before December 31, 2004. An amendment ceasing future benefit accruals for certain participants was effective December 31, 2004. A second amendment discontinued all future benefit accruals for all participants effective April 24, 2006. The Gradall Company Hourly Employees’ Pension Plan covered former employees and current employees who (i) were formerly employed by JLG Industries, Inc., (ii) were covered by a collective bargaining agreement and (iii) first participated in the plan before April 6, 1997. An amendment ceasing all future benefit accruals was effective April 6, 1997. The following table sets forth the change in plan assets, change in projected benefit obligation, rate assumptions and components of net periodic benefit cost as of December 31 with respect to the plan. The measurement dates of the assets and liabilities of the plan were December 31 of the respective years presented. Reconciliation of Funded Status Year Ended December 31, (in thousands) 2021 2020 Change in projected benefit obligation Benefit obligation at beginning of year $ 24,100 $ 22,449 Service cost 5 4 Interest cost 553 689 Liability actuarial (gain) loss (994) 2,025 Benefits paid (1,100) (1,067) Benefit obligation at end of year $ 22,564 $ 24,100 Change in fair value of plan assets Fair value of plan assets at beginning of year $ 22,370 $ 20,605 Return on plan assets 2,401 2,832 Employer contributions — — Benefits paid (1,100) (1,067) Fair value of plan assets at end of year 23,671 22,370 Funded status $ 1,107 $ (1,730) The Company recognizes the overfunded or underfunded status (i.e., the difference between the fair value of plan assets and the projected benefit obligations) of defined benefit postretirement plans as an asset or liability in its consolidated balance sheet and recognizes changes in the funded status in the year in which the changes occur. The Company measures the funded status of a plan as of the date of the year-end consolidated balance sheet. The accumulated benefit obligation for our pension plan represents the actuarial present value of benefits based on employee service and compensation as of a certain date and does not include an assumption about future compensation levels. In determining the projected benefit obligation and the net pension cost, we used the following significant weighted-average assumptions: Rates to Determine Benefit Obligation Year Ended December 31, 2021 2020 Discount rate 2.75% 2.35% Composite rate of compensation increase N/A N/A Rates to Determine Net Periodic Benefit Cost Year Ended December 31, 2021 2020 Discount rate 2.35% 3.15% Long-term rate of return on plan assets 7.25% 7.25% Composite rate of compensation increase N/A N/A The Company employs a building block approach in determining the expected long-term rate of return on plan assets. Historical markets are studied and long-term historical relationships between equities and fixed income are preserved consistent with the widely accepted capital market principle that assets with higher volatility generate a greater return over the long run. Current market factors such as inflation and interest rates are evaluated before long-term market assumptions are determined. The long-term portfolio return is established via a building block approach with proper consideration of diversification and rebalancing. Peer data and historical returns are reviewed to check for reasonability and appropriateness. The following table presents the components of net periodic benefit cost (gains are denoted with parentheses and losses are not): Components of Net Periodic Benefit Cost Year Ended December 31, (in thousands) 2021 2020 Service cost $ 5 $ 4 Interest cost 553 689 Expected return on plan assets (1,581) (1,452) Amortization of net loss 542 508 Net periodic benefit cost $ (481) $ (251) The Company estimates that $0.2 million of unrecognized actuarial expense will be amortized from Accumulated other comprehensive income (loss) into net periodic benefit costs during 2022. The Company employs a total return investment approach whereby a mix of equities and fixed income investments are used to maximize the long-term return of plan assets for a prudent level of risk. Risk tolerance is established through careful consideration of plan liabilities, plan funded status, and corporate financial condition. The investment portfolio contains a diversified blend of equity and fixed income investments. Furthermore, equity investments are diversified across U.S. and non-U.S. stocks, as well as growth, value, and small and large capitalization. Other assets such as real estate, private equity, and hedge funds are used judiciously to enhance long-term returns while improving portfolio diversification. Derivatives may be used to gain market exposure in an efficient and timely manner; however, derivatives may not be used to leverage the portfolio beyond the market value of the underlying investments. Investment risk is measured and monitored on an ongoing basis through quarterly investment portfolio reviews, annual liability measurements, and periodic asset/liability studies. Our current asset allocations are consistent with our targeted allocations. The pension plans' weighted-average asset allocation as a percentage of plan assets at December 31 is as follows: Asset Allocation as a Percentage of the Plan Year Ended December 31, 2021 2020 Equity securities 36% 56% Debt securities 62% 38% Short-term investments 2% 2% Other —% 4% Total 100% 100% The following table presents the hierarchy levels for our postretirement benefit plan investments as of December 31 as described in Note 1 to the Consolidated Financial Statements: December 31, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mutual Funds: Mid Cap $ 637 $ 637 $ — $ — International 940 940 — — Common/Collective Trusts: Wells Fargo Liability Driven Solution CIT I 7,782 — 7,782 — Wells Fargo Liability Driven Solution CIT II 7,026 — 7,026 — Wells Fargo BlackRock International Equity 616 — 616 — Wells Fargo/Causeway International Value 586 — 586 — Wells Fargo BlackRock Large Cap Growth Index Fund 950 — 950 — Wells Fargo BlackRock Large Cap Value Index Fund 968 — 968 — Wells Fargo Multi-Manager Small Cap 1,015 — 1,015 — Wells Fargo BlackRock Russell 2000 Index Fund 332 — 332 — Wells Fargo BlackRock S&P Mid Cap Index Fund 419 — 419 — Wells Fargo/MFS Value CIT F 469 — 469 — Wells Fargo/T. Rowe Price Large-Cap Growth Managed CIT 465 — 465 — Wells Fargo/T. Rowe Price Equity Income Managed CIT 487 — 487 — Wells Fargo Voya Large Cap Growth CIT F 482 — 482 — Cash & Short-term Investments 497 497 — — Total $ 23,671 $ 2,074 $ 21,597 $ — December 31, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mutual Funds: Mid Cap $ 1,450 $ 1,450 $ — $ — Large Cap 3,233 3,233 — — International 2,660 2,660 — — Common/Collective Trusts: Wells Fargo Liability Driven Solution 3,106 — 3,106 — Wells Fargo BlackRock International Equity 959 — 959 — Wells Fargo Core Bond 1,552 — 1,552 — Wells Fargo/Causeway International Value 923 — 923 — Wells Fargo BlackRock Large Cap Growth Index Fund 1,268 — 1,268 — Wells Fargo BlackRock Large Cap Value Index Fund 1,240 — 1,240 — Wells Fargo Multi-Manager Small Cap 1,544 — 1,544 — Wells Fargo BlackRock Russell 2000 Index Fund 702 — 702 — Wells Fargo BlackRock S&P Mid Cap Index Fund 781 — 781 — Wells Fargo/MFS Value CIT F 627 — 627 — Wells Fargo/T. Rowe Price Large-Cap Growth Managed CIT 639 — 639 — Wells Fargo/T. Rowe Price Equity Income Managed CIT 643 — 643 — Wells Fargo Voya Large Cap Growth CIT F 639 — 639 — Cash & Short-term Investments 404 404 — — Total $ 22,370 $ 7,747 $ 14,623 $ — Our interests in the common collective trust investments are managed by one custodian. Consistent with our investment policy, the custodian has invested the assets across a widely diversified portfolio of U.S. and international equity and fixed income securities. Fair values of each security within the collective trust as of December 31, 2021 were obtained from the custodian and are based on quoted market prices of individual investments; however, since the fund itself does not have a quoted market price, these assets are considered Level 2. The common collective funds noted in the above table have estimated fair value using the net asset value per share of investments. Investments can be redeemed immediately at the current net asset value per share based on the fair value of the underlying assets. Redemption frequency is daily. The categories contain investments in equity securities of smaller growing companies, medium-sized U.S. companies, large value-oriented and growth-oriented companies, and foreign companies traded on international markets. Expected benefit payments are estimated using the same assumptions used in determining our benefit obligation as of December 31, 2021. The following table illustrates the estimated pension benefit payments that are projected to be paid: Projected Future Benefit Payments (in thousands) Employees’ Retirement Plan 2022 $ 1,269 2023 1,288 2024 1,301 2025 1,310 2026 1,306 Years 2027 through 2031 6,287 Supplemental Retirement Plan The Board of Directors of the Company adopted the Alamo Group Inc. Supplemental Executive Retirement Plan (the “SERP”), effective as of January 3, 2011. The SERP will benefit certain key management or other highly compensated employees of the Company and/or certain subsidiaries who are selected by the Compensation Committee and approved by the Board to participate. The SERP is intended to provide a benefit from the Company upon retirement, death or disability, or a change in control of the Company. Accordingly, the SERP obligates the Company to pay to a participant a Retirement Benefit (as defined in the SERP) upon the occurrence of certain payment events to the extent a participant has a vested right thereto. A participant’s right to his or her Retirement Benefit becomes vested in the Company’s contributions upon 10 years of Credited Service (as defined in the SERP) or a change in control of the Company. The Retirement Benefit is based on 20% of the final three-year average salary of each participant on or after his or her normal retirement age (65 years of age). In the event of the participant’s death or a change in control, the participant’s vested retirement benefit will be paid in a lump sum to the participant or his or her estate, as applicable, within 90 days after the participant’s death or a change in control, as applicable. In the event that the participant is entitled to a benefit from the SERP due to disability, retirement or other termination of employment, the benefit will be paid in monthly installments over a period of fifteen years. The Company records amounts relating to the SERP based on calculations that incorporate various actuarial and other assumptions, including discount rates, rate of compensation increases, retirement dates and life expectancy. The net periodic costs are recognized as employees render the services necessary to earn the SERP benefits. In May of 2015, the Board amended the SERP to allow the Board to modify the retirement benefit percentage either higher or lower than 20%. In May of 2016, the Board added additional highly compensated employees to the plan. As of December 31, 2021, the current retirement benefit (as defined in the plan) for the participants ranges from 10% to 20%. The change in the Projected Benefit Obligation (PBO) as of December 31, 2021 and 2020, is shown below: Reconciliation of Benefit Obligation Year Ended December 31, (in thousands) 2021 2020 Benefit obligation at January 1, $ 10,160 $ 9,022 Service cost 369 305 Interest cost 205 236 Liability actuarial loss (gain) 759 1,168 Benefits paid (167) (1,025) Plan amendments — 454 Benefit obligation at December 31, $ 11,326 $ 10,160 The components of net periodic pension expense were as follows: Components of Net Periodic Benefit Cost Year Ended December 31, (in thousands) 2021 2020 Service cost $ 369 $ 305 Interest cost 205 236 Amortization of prior service cost 413 317 Amortization of net (gain)/loss 318 158 Recognition of settlement — 188 Net periodic benefit cost $ 1,305 $ 1,204 The Company estimates that $0.9 million of unrecognized actuarial expense will be amortized from Accumulated other comprehensive income into net periodic benefit costs during 2022. In determining the projected benefit obligation and the net pension cost, we used the following significant weighted-average assumptions: Assumptions used to determine benefit obligations at December 31: Rates to Determine Benefit Obligation 2021 2020 Discount rate 2.50% 2.05% Composite rate of compensation increase 3.00% 3.00% Assumptions used to determine net periodic benefit cost for the years ended December 31: Rates to Determine Net Periodic Benefit Cost 2021 2020 Discount rate 2.05% 2.95% Composite rate of compensation increase 3.00% 3.00% Long-term rate of return on plan assets N/A N/A Future estimated benefits expected to be paid from the plan over the next ten years as follows: Projected Future Benefit Payments (in thousands) SERP 2022 $ 456 2023 489 2024 530 2025 606 2026 828 Years 2027 through 2031 4,105 Defined Contribution Plans The Company has two defined contribution plans, The Gradall Salaried Employees’ Savings and Investment Plan (“Salary Plan”) and The International Association of Machinist and Aerospace Workers Retirement Plan (“IAM Plan”). The Company contributed $0.5 million, $0.4 million, and $0.6 million to the IAM Plan for the plan years ended December 31, 2021, 2020 and 2019, respectively. The Company converted the Salary Plan into its 401(k) retirement and savings plan and put the Hourly Plan into a separate 401(k) retirement and savings plan. The Company provides a defined contribution 401(k) retirement and savings plan for eligible U.S. employees. Company matching contributions are based on a percentage of employee contributions. Company contributions to the plan during 2021, 2020 and 2019 were $3.9 million, $3.5 million, and $2.8 million, respectively. Three of the Company’s international subsidiaries also participate in a defined contribution and savings plan covering eligible employees. The Company’s international subsidiaries contribute between 0% and 10% of the participant’s salary up to a specific limit. Total contributions made to the above plans were $0.9 million, $0.9 million, and $0.9 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Revenue and Segment Reporting

Revenue and Segment Reporting	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
REVENUE AND SEGMENT REPORTING	REVENUE AND SEGMENT REPORTING Disaggregation of revenue is presented in the tables below by product type. Management has determined that this level of disaggregation would be beneficial to users of the financial statements. Revenue by Product Type December 31, (in thousands) 2021 2020 2019 Net Sales Wholegoods $ 1,024,158 $ 885,254 $ 875,805 Parts 262,432 247,126 207,766 Other 47,633 31,086 35,567 Consolidated $ 1,334,223 $ 1,163,466 $ 1,119,138 Other includes rental sales, extended warranty sales and service sales as it is considered immaterial. Effective for the fourth quarter of 2021, the Company began reporting its operating results on the basis of the following segments, Vegetation Management Division and Industrial Equipment Division. Prior to the fourth quarter of 2021, the Company had been reporting its operating results on the basis of two segments which were the Industrial Division and Agricultural Division. The Vegetation Management Division includes all of the operations of the former Agricultural Division plus the mowing and forestry/tree care operations that were previously part of the former Industrial Division. The Industrial Equipment Division includes the Company’s vocational truck business and other industrial operations such as excavators, vacuum trucks, street sweepers, and snow removal equipment. The Company's prior period segment information has been retrospectively adjusted to reflect the current segment presentation. The Company has included a summary of the financial information by reporting segment. The following table presents the revenue and income from operations by reporting segment for the years ended December 31, 2021, 2020, and 2019: December 31, (in thousands) 2021 2020 2019 Net Revenue Vegetation Management $ 812,676 $ 654,630 $ 502,194 Industrial Equipment 521,547 508,836 616,944 Consolidated $ 1,334,223 $ 1,163,466 $ 1,119,138 Income from Operations Vegetation Management $ 78,917 $ 46,651 $ 34,035 Industrial Equipment 38,021 48,134 60,877 Consolidated $ 116,938 $ 94,785 $ 94,912 The following table presents the goodwill and total identifiable assets by reporting segment for the years ended December 31, 2021 and 2020: December 31, (in thousands) 2021 2020 Goodwill Vegetation Management $ 132,963 $ 124,981 Industrial Equipment 69,443 70,151 Consolidated $ 202,406 $ 195,132 Identifiable Assets Vegetation Management $ 789,838 $ 707,398 Industrial Equipment 415,904 414,461 Consolidated $ 1,205,742 $ 1,121,859

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS Changes in accumulated other comprehensive loss by component, net of tax, were as follows: Twelve Months Ended December 31, 2021 2020 (in thousands) Foreign Currency Translation Adjustment Defined Benefit Plans Items Gaines (Losses) on Cash Flow Hedges Total Foreign Currency Translation Adjustment Defined Benefit Plans Items Gaines (Losses) on Cash Flow Hedges Total Balance as of beginning of period $ (26,597) $ (6,855) $ (6,874) $ (40,326) $ (35,459) $ (5,989) $ 610 $ (40,838) Other comprehensive income (loss) before reclassifications (15,800) — 7,984 (7,816) 8,862 — (5,789) 3,073 Amounts reclassified from accumulated other comprehensive loss — 1,838 (2,686) (848) — (866) (1,695) (2,561) Other comprehensive income (loss) (15,800) 1,838 5,298 (8,664) 8,862 (866) (7,484) 512 Balance as of end of period $ (42,397) $ (5,017) $ (1,576) $ (48,990) $ (26,597) $ (6,855) $ (6,874) $ (40,326)

International Operations and Ge

International Operations and Geographic Information	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
INTERNATIONAL OPERATIONS AND GEOGRAPHIC INFORMATION	INTERNATIONAL OPERATIONS AND GEOGRAPHIC INFORMATION Following is selected financial information on the Company’s international operations, which include the United Kingdom, France, Netherlands, Canada, Brazil, and Australia: International Operations Financial Information December 31, (in thousands) 2021 2020 2019 Net sales $ 363,339 $ 312,462 $ 357,602 Income from operations 34,561 31,166 32,518 Income before income taxes 37,051 30,674 31,975 Identifiable assets 352,187 304,536 333,392 Following is other selected geographic financial information on the Company’s operations: Geographic Financial Information December 31, (in thousands) 2021 2020 2019 Geographic net sales: United States $ 953,024 $ 862,430 $ 774,854 France 92,052 81,259 99,145 Canada 83,392 65,313 72,950 United Kingdom 57,386 47,757 52,098 Brazil 31,365 16,592 17,919 Netherlands 27,964 23,946 23,462 Germany 8,977 9,328 7,825 Australia 20,980 10,999 7,550 Other 59,083 45,842 63,335 Total net sales $ 1,334,223 $ 1,163,466 $ 1,119,138 Geographic location of long-lived assets: United States $ 461,341 $ 480,940 $ 515,189 Netherlands 32,262 39,063 37,930 Canada 32,132 33,573 32,606 United Kingdom 36,569 18,843 19,840 France 19,781 21,033 19,513 Brazil 10,408 11,123 15,096 Australia 790 964 1,021 Total long-lived assets $ 593,283 $ 605,539 $ 641,195 Net sales are attributed to countries based on the location of customers.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company is subject to various unresolved legal actions that arise in the ordinary course of its business. The most significant of such actions relates to product liability, which is generally covered by insurance after various self-insured retention amounts. While amounts claimed might be substantial and the liability with respect to such litigation cannot be determined at this time, the Company believes that the outcome of these matters will not have a material adverse effect on the Company’s consolidated financial position or results of operations; however, the ultimate resolution cannot be determined at this time. Also, like other manufacturers, the Company is subject to a broad range of federal, state, local and foreign laws and requirements, including those concerning air emissions, discharges into waterways, and the generation, handling, storage, transportation, treatment and disposal of hazardous substances and waste materials, as well as the remediation of contamination associated with releases of hazardous substances at the Company’s facilities and off-site disposal locations, workplace safety and equal employment opportunities. These laws and regulations are constantly changing, and it is impossible to predict with accuracy the effect that changes to such laws and regulations may have on the Company in the future. Like other industrial concerns, the Company’s manufacturing operations entail the risk of noncompliance, and there can be no assurance that the Company will not incur material costs or other liabilities as a result thereof.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements include the accounts of Alamo Group Inc. and its subsidiaries (the “Company” or “Alamo Group”), all of which are wholly owned. All intercompany accounts and transactions have been eliminated in consolidation.
Reclassifications	Reclassifications At the beginning of the fourth quarter of 2021, the Company began reporting operating results on the basis of two new segments, the Vegetation Management Division and the Industrial Equipment Division. Prior to the fourth quarter of 2021, the Company had been reporting its operating results on the basis of two segments, the Industrial and Agricultural Divisions. The realignment into these two new segments will allow the Company to capture synergies in areas such as cross-branding, distribution and product development. The prior period segment information has been retrospectively adjusted to reflect the current segment presentation in Note 18 to the Consolidated Financial Statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the amount of assets, liabilities, revenues, and expenses reported in the financial statements and accompanying notes. Judgments related to asset impairment and certain reserves are particularly subject to change. Actual results could differ from those estimates. Such estimates include, but are not limited to, allowance for doubtful accounts, reserve for sales discounts, estimated realizable value on obsolete and slow-moving inventory, warranty reserve, estimates related to pension accounting, estimates related to fair value for purposes of assessing goodwill, long-lived assets and intangible assets for impairment, estimates related to income taxes, and estimates related to contingencies.
Foreign Currency	Foreign Currency The Company translates the assets and liabilities of foreign-owned subsidiaries at rates in effect at the end of the year. Revenues and expenses are translated at average rates in effect during the reporting period. Translation adjustments are included in Accumulated other comprehensive income (loss).
Cash Equivalents	Cash EquivalentsThe Company considers all highly liquid investments with original maturities of three months or less from the date of purchase to be cash equivalents.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of accounts receivable. The credit risk is limited because of the large numbers and types of customers and their geographic dispersion.
Inventory Valuation	Inventory Valuation Inventories are stated at the lower of cost or net realizable value. Effective July 1, 2021, the Company changed its method of accounting for its U.S. inventories currently accounted for under the LIFO method to the FIFO method. Total U.S. inventories that utilized the LIFO cost method represented 41% of the Company's total inventory as of December 31, 2020 prior to this change in method. The Company believes the FIFO method is preferable because it: (i) more accurately matches cost of sales with the related revenues as the FIFO method more accurately resembles the physical flow of inventory and; (ii) conforms all of the Company’s consolidated inventory to a single method of accounting. The Company also notes that the revised policy improves comparability with many of the Company's peers.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant, and equipment are stated on the basis of cost. Major renewals and betterments are charged to the property accounts, while replacements, maintenance and repairs, which do not improve or extend the lives of the respective assets, are expensed to the current period. Depreciation is provided at amounts calculated to amortize the cost of the assets over their estimated useful economic lives using the straight-line method.
Impairment of Long-lived assets	Impairment of Long-Lived Assets
Goodwill	Goodwill Goodwill represents the excess of the purchase price over the estimated fair value of the identifiable net assets acquired. Goodwill is not amortized but is instead tested for impairment at least annually, or whenever events or circumstances change between the annual impairment tests that make it likely that an impairment may have occurred, such as a significant adverse change in the business climate or a decision to sell all or a portion of a reporting unit. The Company performs its annual test for goodwill impairment related to its reporting units on October 1 of each fiscal year. Impairment testing for goodwill is done at the reporting unit level. A reporting unit is an operating segment or one level below an operating segment (also known as a component). A component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available, and segment management regularly reviews the operating results of that component. We perform a qualitative assessment for all of our reporting units to determine whether it is more likely than not that an impairment exists. Factors considered include macroeconomic, industry and competitive conditions, legal and regulatory environment, historical financial performance and significant changes in the reporting unit. If the
Intangible Assets	Intangible Assets The Company has intangible assets with both definite and indefinite useful lives. The definite-lived assets are trade names and trademarks, customer and dealer relationships, and patents and drawings that are subject to amortization with useful lives ranging from 3 years to 25 years. Impairment of definite-lived assets is discussed as part of the Impairment of Long-Lived Assets paragraph above. The indefinite-lived assets not subject to amortization consist of trade names. The Company tests its indefinite-lived intangible assets for impairment on an annual basis at year-end, or more frequently if an event occurs or circumstances change that indicate that the fair value of an indefinite-lived intangible asset could be below its carrying amount. The impairment test consists of comparing the fair value of the indefinite-lived intangible asset, determined using the relief from royalty method, with its carrying amount. An impairment loss would be recognized for the carrying amount in excess of its fair value.
Leases	Leases We determine if an arrangement is a lease at inception. Operating leases are included in other non-current assets, accrued liabilities, and other long-term liabilities on our consolidated balance sheets. Finance leases are included in property, plant and equipment, accrued liabilities, and other long-term liabilities on our consolidated balance sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. We have elected to not account for the lease and non-lease components separately for most of our asset classes with the exception of real-estate. We have also elected to exclude all lease agreements with an initial term of 12 months or less from the lease recognition requirements as allowed by ASC.
Pensions	Pensions The Company records annual amounts relating to its pension and post-retirement plans based on calculations that incorporate various actuarial and other assumptions, including discount rates, mortality, assumed rates of return, compensation increases, turnover rates and health care cost trend rates. The Company reviews its assumptions on an annual basis and makes modifications to the assumptions based on current rates and trends when it is appropriate to do so. The effect of modifications to those assumptions is recorded in Accumulated other comprehensive income (loss) and amortized to net periodic cost over future periods using the corridor method. The Company believes that the assumptions utilized in recording its obligations under its plans are reasonable based on its experience and market conditions. The net periodic costs are recognized as employees render the services necessary to earn the post-retirement benefits.
Revenue Recognition	Revenue Recognition The majority of the Company's revenue is recognized from product sales under contracts with customers. The Company presents two reportable operating segments within its financial statements: Vegetation Management and Industrial Equipment. Contract terms and performance obligations within each contractual agreement are generally consistent for both divisions, with small differences that do not have a significant impact on the revenue recognition considerations under Topic 606. Revenues are recognized when we satisfy our performance obligation to transfer product to our customers, which typically occurs at a point in time upon shipment or delivery of the product, and for an amount that reflects the transaction price that is allocated to the performance obligation. Our contracts with customers state the final terms of sale, including the description, quantity and price for goods sold. In the normal course of business, we generally do not accept product returns. The transaction price is the consideration that we expect to be entitled to in exchange for our products. Some of our contracts contain variable consideration in the form of sales incentives to our customers, such as discounts and rebates. For contracts that include variable consideration, we estimate the factors that determine the variable consideration in order to establish the transaction price. We have elected that any taxes collected from customers and remitted to government authorities (i.e., sales tax, use tax, etc.) are excluded from the measurement of the transaction price and therefore are excluded from net sales in the consolidated statements of operations. There are instances where we provide shipping services in relation to the goods sold to our customers. Shipping and handling costs that occur before the customer obtains control of the goods are deemed to be fulfillment activities and are included in cost of goods sold. We have elected to account for shipping and handling activities that occur after the customer has obtained control of a good as fulfillment activities (i.e., an expense) rather than as a promised service.
Rental Equipment	Leases We determine if an arrangement is a lease at inception. Operating leases are included in other non-current assets, accrued liabilities, and other long-term liabilities on our consolidated balance sheets. Finance leases are included in property, plant and equipment, accrued liabilities, and other long-term liabilities on our consolidated balance sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. We have elected to not account for the lease and non-lease components separately for most of our asset classes with the exception of real-estate. We have also elected to exclude all lease agreements with an initial term of 12 months or less from the lease recognition requirements as allowed by ASC.
Shipping and Handling Costs	Shipping and Handling Costs The Company’s policy is to include shipping and handling costs in costs of goods sold.
Advertising	Advertising We charge advertising costs to expense as incurred. Advertising and marketing expense related to operations for fiscal years 2021, 2020, and 2019 was approximately $10.2 million, $10.1 million and $12.2 million, respectively. Advertising and marketing expenses are included in Selling, General and Administrative expenses (“SG&A”).
Research and Development	Research and Development Product development and engineering costs charged to SG&A amounted to $11.7 million, $12.4 million, and $12.0 million for the years ended December 31, 2021, 2020, and 2019, respectively.
Commitments and Contingencies	Commitments and Contingencies Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. The Company's policy is to accrue for legal costs expected to be incurred in connection with loss contingencies.
Income Taxes	Income Taxes Deferred tax assets and liabilities are determined based on differences between the financial reporting basis and tax basis of assets and liabilities, and are measured by applying enacted statutory tax rates applicable to the future years in which deferred tax assets or liabilities are expected to be settled or realized. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversals of deferred tax liabilities, projected future taxable income, available tax carrybacks and tax planning strategies in making this assessment other than those which we have reserved. We have elected to treat the global intangible low-taxed income (GILTI) tax as a period expense.
Stock-Based Compensation	Stock-Based Compensation The Company has granted options to purchase its common stock, restricted stock awards, restricted stock units, and performance stock units to certain employees and directors of the Company and its affiliates under various stock option plans at no less than the fair market value of the underlying stock on the date of grant. These options are granted for a term not exceeding ten years and are forfeited in the event that the employee or director terminates his or her employment or relationship with the Company or one of its affiliates other than by retirement or death. These options generally vest over five years. All option plans contain anti-dilutive provisions that permit an adjustment of the number of shares of the Company’s common stock represented by each option for any change in capitalization. The fair value of each stock option is estimated on the date of grant using the Black-Scholes valuation method with the following assumptions noted: 1. The risk-free rate is based on the U.S. Treasury rate over the expected life of the option at the time of the grant. 2. The dividend yield is calculated as the ratio of dividends paid per share of common stock to the stock price on the date of the grant. 3. The expected volatility factors are based on the historical movement of the Company’s common stock price over the expected life of the option. 4. The expected life is the average length of time in which officers, other employees, and non-employee directors are expected to exercise their options, and which are primarily based on historical experience.
Earnings per Common Share ("EPS")	Earnings per Common Share (“EPS”) Basic EPS is computed using the weighted-average number of common shares outstanding during the year. The treasury stock method is used to compute diluted EPS which gives effect to the potential dilution of earnings that could have occurred if additional shares were issued for awards granted under the Company’s incentive stock option plans. The treasury stock method assumes that proceeds obtained upon exercise of awards granted under the incentive stock option plans are used to purchase outstanding common stock at the average market price during the period.
Accounting Pronouncements	Accounting Pronouncements Adopted on January 1, 2021 In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes” to simplify the accounting for income taxes. The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This guidance became effective for us on January 1, 2021. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements. Accounting Pronouncements Not Yet Adopted
Inventories - Obsolete and Slow Moving	Reserve for Inventory Obsolescence We value inventories at the lower of the cost of inventory or net realizable value. As needed, we record an inventory valuation adjustment for excess, slow moving, and obsolete inventory that is equal to the excess of the cost of the inventory over the estimated net realizable value. The inventory valuation adjustment to net realizable value establishes a new cost basis of the inventory that cannot be subsequently reversed. Such inventory valuation adjustments for excess, obsolete, and slow moving inventory are not reduced or removed until the product is sold or disposed of. The Company had a reserve of $12.9 million on December 31, 2021 and $12.0 million on December 31, 2020 to cover obsolete and slow moving inventory. The increase in the reserve was primarily attributable to the Company's Industrial Equipment Division. The reserve for inventory obsolescence is calculated as follows: 1) no inventory usage over a three-year period is deemed obsolete and reserved at 100%; and 2) slow moving inventory with little usage requires a 100% reserve on items that have a quantity greater than a three-year supply. There are exceptions to the obsolete and slow moving classifications if approved by an officer of the Company, based on specific identification of an item or items that are deemed to be either included or excluded from this classification. In cases where there is no historical data, management makes a judgment based on a specific review of the inventory in question to determine what reserves, if any, are appropriate. New products or parts are generally excluded from the reserve until a three-year history has been established.
Warranty	Warranty The Company’s warranty policy is generally to provide its customers warranty for up to one year on all wholegood units and 90 days on parts, though some components can have warranty for longer terms. three three
Fair Value of Financial Instruments	U.S. GAAP requires or permits certain assets or liabilities to be measured at fair value on a recurring or non- recurring basis in our balance sheets. U.S. GAAP also requires the disclosure of the fair values of financial instruments when an option to elect fair value accounting has been provided but such election has not been made. A debt obligation is an example of such a financial instrument. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. There is a three-tier fair value hierarchy based upon the observability of inputs used in valuation techniques. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed market assumptions. In fair value, measurements are classified under the following hierarchy: Level 1 – Quoted prices for identical assets or liabilities in active markets. Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs or significant value-drivers are observable in active markets. Level 3 – Model-derived valuations in which one or more significant inputs or significant value-drivers are unobservable. When measuring fair value, the Company maximizes use of observable inputs and minimizes the use of unobservable inputs. Fair value measurements are classified to the lowest level input or value-driver that is significant to the valuation. A measurement may therefore be classified within Level 3 even though there may be significant inputs that are readily observable. The carrying values of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses, approximate fair value because of the short-term nature of these items. The carrying value of our debt approximates the fair value as of December 31, 2021 and 2020, as the floating rates on our outstanding balances approximate current market rates. This conclusion was made based on Level 2 inputs. Fair values determined by Level 2 utilize inputs that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Other than the investments held by the retirement benefit plans, as described in Note 17 to the Consolidated Financial Statements, the Company does not have any other significant financial assets or liabilities measured at fair value on a recurring basis. The Company has no recurring or nonrecurring valuations that fall under Level 3 of the fair value hierarchy as of December 31, 2021 and 2020.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Accounting Standards Update and Change in Accounting Principle	The following financial statement line items in the Company's Consolidated Balance Sheet as of December 31, 2020 was adjusted as follows: Consolidated Balance Sheets December 31, 2020 (in thousands) As Originally Reported Effect of Change As Adjusted Inventories, net $ 229,971 $ 12,530 $ 242,501 Deferred income taxes (liability) 19,642 3,170 22,812 Retained earnings 550,826 9,360 560,186
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The Company calculated the fair value for options with the following weighted-average assumptions for 2021, 2020, and 2019: Fair Value Calculation Assumptions for Stock Compensation December 31, 2021 2020 2019 Risk-free interest rate 1.25 % 1.22 % 2.43 % Dividend yield 0.4 % 0.5 % 0.5 % Volatility factors 33.9 % 30.0 % 31.2 % Weighted-average expected life 8.0 years 8.0 years 8.0 years

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the reconciliation from basic to diluted average common shares and the calculations of net income per common share. Net income for basic and diluted calculations does not differ. (in thousands, except per share amounts) 2021 2020 2019 Net income $ 80,245 $ 57,804 $ 63,103 Average common shares: Basic (weighted-average outstanding shares) 11,837 11,782 11,729 Dilutive potential common shares from stock options 59 63 71 Diluted (weighted-average outstanding shares) 11,896 11,845 11,800 Basic earnings per share $ 6.78 $ 4.91 $ 5.38 Diluted earnings per share $ 6.75 $ 4.88 $ 5.35

Valuation and Qualifying Acco_2

Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Schedule of Valuation and Qualifying Accounts	Valuation and qualifying accounts included the following: (in thousands) Balance Beginning of Year Net Charged to Costs and Expenses Translations, Reclassifications and Acquisitions Net Write-Offs or Discounts Taken Balance End of Year 2021 Reserve for sales discounts $ 13,549 $ 116,114 $ (688) $ (116,408) $ 12,567 Reserve for inventory obsolescence 12,027 6,531 (146) (5,504) 12,908 Reserve for warranty 9,096 10,727 (132) (9,738) 9,953 2020 Reserve for sales discounts $ 16,883 $ 93,398 $ 15 $ (96,747) $ 13,549 Reserve for inventory obsolescence 8,233 4,609 1,471 (2,286) 12,027 Reserve for warranty 10,249 8,466 247 (9,866) 9,096 2019 Reserve for sales discounts $ 18,123 $ 91,962 $ 39 $ (93,241) $ 16,883 Reserve for inventory obsolescence 7,194 5,711 6,467 (11,139) 8,233 Reserve for warranty 4,992 8,273 4,343 (7,359) 10,249

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following: December 31, (in thousands) 2021 2020 Finished goods and parts $ 277,760 $ 208,656 Work in process 24,895 21,225 Raw materials 18,262 12,620 Inventory, net $ 320,917 $ 242,501

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment consist of the following: December 31, (in thousands) 2021 2020 Useful Lives Land $ 12,838 $ 14,908 Buildings and improvements 145,086 149,048 5-20 yrs. Machinery and equipment 129,901 116,825 3-10 yrs. Office furniture and equipment 13,291 11,743 3-7 yrs. Computer software 12,384 12,276 3-7 yrs. Transportation equipment 8,363 7,562 3 yrs. Property, plant and equipment, at cost 321,863 312,362 Accumulated depreciation (169,372) (156,928) Property, plant and equipment, net $ 152,491 $ 155,434

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill for the year ended December 31, 2019, 2020, and 2021 are as follows: Vegetation Management Industrial Equipment Consolidated (in thousands) Balance at December 31, 2018 $ 16,751 $ 66,492 $ 83,243 Translation adjustment (72) 92 20 Goodwill acquired 110,215 4,544 114,759 Balance at December 31, 2019 $ 126,894 $ 71,128 $ 198,022 Translation adjustment 132 1,036 1,168 Goodwill adjustment (2,045) (2,013) (4,058) Balance at December 31, 2020 $ 124,981 $ 70,151 $ 195,132 Translation adjustment (1,510) (708) (2,218) Goodwill acquired 9,492 — 9,492 Balance at December 31, 2021 $ 132,963 $ 69,443 $ 202,406

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite Lived Intangible Assets	The following is a summary of the Company's intangible assets net of the accumulated amortization: (in thousands) Estimated Useful Lives December 31, 2021 December 31, 2020 Definite: Trade names and trademarks 15-25 years $ 68,321 $ 67,770 Customer and dealer relationships 8-15 years 126,104 122,470 Patents and developed technologies 3-12 years 29,338 28,764 Favorable leasehold interests 7 years 4,200 4,200 Total at cost 227,963 223,204 Less accumulated amortization (49,997) (35,532) Total net 177,966 187,672 Indefinite: Trade names and trademarks 5,500 5,500 Total Intangible Assets $ 183,466 $ 193,172
Schedule of Indefinite-Lived Intangible Assets	The following is a summary of the Company's intangible assets net of the accumulated amortization: (in thousands) Estimated Useful Lives December 31, 2021 December 31, 2020 Definite: Trade names and trademarks 15-25 years $ 68,321 $ 67,770 Customer and dealer relationships 8-15 years 126,104 122,470 Patents and developed technologies 3-12 years 29,338 28,764 Favorable leasehold interests 7 years 4,200 4,200 Total at cost 227,963 223,204 Less accumulated amortization (49,997) (35,532) Total net 177,966 187,672 Indefinite: Trade names and trademarks 5,500 5,500 Total Intangible Assets $ 183,466 $ 193,172

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Components of Lease Expense	As of December 31, 2021, the components of lease cost were as follows: Components of Lease Cost Twelve Months Ended December 31, (in thousands) 2021 2020 Finance lease cost: Amortization of right-of-use assets $ 67 $ 89 Interest on lease liabilities 3 7 Operating lease cost 5,571 4,824 Short-term lease cost 1,033 818 Variable lease cost 410 487 Total lease cost $ 7,084 $ 6,225
Operating Lease Maturity	As of December 31, 2021, future minimum lease payments under these non-cancelable leases are: Future Minimum Lease Payments (in thousands) Operating Leases 2022 $ 4,949 2023 3,793 2024 2,683 2025 2,036 2026 1,652 Thereafter 3,090 Total minimum lease payments $ 18,203 Less imputed interest (1,311) Total lease liabilities $ 16,892
Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows: Operating Leases December 31, (in thousands) 2021 2020 Other non-current assets $ 16,744 $ 14,144 Accrued liabilities 4,655 3,680 Other long-term liabilities 12,237 10,565 Total operating lease liabilities $ 16,892 $ 14,245 Weighted average remaining lease term 5.14 years 5.83 years Weighted average discount rate 2.83 % 3.04 %
Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases was as follows: Twelve Months Ended December 31, (in thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 5,013 4,487

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consist of the following balances: December 31, (in thousands) 2021 2020 Salaries, wages and bonuses $ 37,462 $ 31,658 Lease liability 4,655 3,680 Taxes 1,902 5,907 Warranty 9,953 9,096 Retirement provision 2,967 3,252 Customer deposits 6,383 1,385 Other 10,201 9,656 Accrued liabilities $ 73,523 $ 64,634

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Components of Long-Term Debt	The components of long-term debt are as follows: December 31, (in thousands) 2021 2020 Bank revolving credit facility $ 4,000 $ 5,000 Term debt 265,498 280,233 Capital lease obligations 56 153 Total debt 269,554 285,386 Less current maturities 15,032 15,066 Total long-term debt $ 254,522 $ 270,320

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	Earnings before income taxes were as follows: December 31, (in thousands) 2021 2020 2019 Income before income taxes: Domestic $ 74,070 $ 50,977 $ 54,830 Foreign 35,428 28,780 29,769 $ 109,498 $ 79,757 $ 84,599
Schedule of Components of Income Tax Expense (Benefit)	The components of income tax expense (benefit) were as follows: December 31, (in thousands) 2021 2020 2019 Current: Domestic $ 16,846 $ 10,823 $ 6,403 Foreign 8,646 8,759 8,419 State 4,943 3,226 3,291 30,435 22,808 18,113 Deferred: Domestic (679) 1,238 3,906 Foreign (274) (1,199) (280) State (229) (894) (243) (1,182) (855) 3,383 Total income taxes $ 29,253 $ 21,953 $ 21,496
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the income tax at the Company’s U.S. statutory federal income tax rate to the provision for income taxes follows: December 31, (in thousands) 2021 2020 2019 Income tax expense at statutory rates $ 22,995 $ 16,749 $ 17,765 Increase (reduction) from: Jurisdictional rate differences 1,599 1,034 988 Executive compensation limitation 1,314 170 715 Stock based compensation (322) (366) (358) U.S. state taxes 3,724 2,556 3,137 Foreign tax expense — 704 — R&D credit (670) (415) (699) GILTI — 50 872 Previously unrecognized tax (benefit)/expense 8 2,219 (1,504) Other, net 605 (748) 580 Provision for income taxes $ 29,253 $ 21,953 $ 21,496 Effective tax rate 27 % 28 % 25 %
Schedule of Deferred Tax Assets and Liabilities	The components of the Company’s deferred income tax assets and liabilities were as follows: December 31, (in thousands) 2021 2020 Deferred income tax assets: Inventory basis difference $ 892 $ 519 Accounts receivable reserve 240 255 Rental equipment and Property, plant and equipment 201 144 Stock based compensation 688 606 Pension liability 3,116 3,655 Employee benefit accrual 2,747 1,585 Product liability and warranty reserves 2,155 2,242 Foreign net operating loss 3,764 3,566 Lease liability 3,858 3,376 State net operating loss 157 148 Other 1,016 1,891 Total deferred income tax assets $ 18,834 $ 17,987 Less: Valuation allowance (4,129) (3,641) Net deferred income tax assets $ 14,705 $ 14,346 Deferred income tax liabilities: Inventory basis differences $ (165) $ (287) Rental equipment and Property, plant and equipment (13,844) (14,818) Lease asset (3,794) (3,351) Intangible assets (16,197) (16,496) Expenses not currently deductible for book purposes (1,053) (1,003) Total deferred income tax liabilities $ (35,053) $ (35,955) Net deferred income taxes $ (20,348) $ (21,609)
Schedule of Unrecognized Tax Benefits Roll Forward	The Company does not expect the unrecognized tax benefits to change significantly over the next 12 months. Unrecognized Tax Benefits December 31, (in thousands) 2021 2020 Balance as of beginning of year $ 262 $ 262 Increases for tax positions related to the current year 82 88 Decreases due to lapse of statute of limitations (74) (88) Balance as of end of year $ 270 $ 262

Stock Options (Tables)

Stock Options (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Compensation, Stock Options, Activity	2021 2020 2019 Options available for grant at end of year 423,969 455,549 499,640
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	Following is a summary of activity in the Restricted Stock Awards (" RSA ")/Units for the periods indicated: 2021 2020 2019 Shares Grant-Date Fair Value* Shares Grant-Date Fair Value* Shares Grant-Date Fair Value* Awards outstanding at beginning of year 91,043 $ 104.77 78,705 $ 94.34 75,636 $ 81.39 Granted 35,224 157.00 44,307 111.95 36,060 105.69 Exercised (45,651) 101.36 (31,594) 88.90 (32,466) 69.94 Canceled — — (375) 100.34 (525) 99.96 Awards outstanding at end of year 80,616 129.53 91,043 104.77 78,705 94.34 *Weighted Averages
Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Compensation, Stock Options, Activity	Following is a summary of activity in the Incentive Stock Option Plans for the periods indicated: 2021 2020 2019 Shares Exercise Price* Shares Exercise Price* Shares Exercise Price* Options outstanding at beginning of year 100,920 $ 68.58 119,720 $ 57.65 140,170 $ 49.78 Granted 18,900 156.38 13,950 114.53 12,150 105.56 Exercised (30,210) 53.68 (31,300) 45.94 (28,100) 38.93 Canceled (2,000) 130.92 (1,450) 96.97 (4,500) 58.57 Options outstanding at end of year 87,610 91.24 100,920 68.58 119,720 57.65 Options exercisable at end of year 49,360 $ 61.21 67,700 $ 52.60 85,070 $ 47.10 Options available for grant at end of year 297,850 314,750 327,250 *Weighted Averages
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range	Options outstanding and exercisable at December 31, 2021 were as follows: Qualified Stock Options Options Outstanding Options Exercisable Shares Remaining Contractual Life (yrs)* Exercise Price* Shares Exercise Price* Range of Exercise Price $32.76 - $52.51 16,100 1.49 $ 40.88 16,100 $ 40.88 $53.51 - $80.27 19,800 3.35 $ 54.20 19,800 $ 54.20 $83.99 - $125.99 33,710 7.08 $ 102.27 13,460 $ 95.85 $156.38 - $234.57 18,000 9.16 $ 156.38 — $ — Total 87,610 49,360 *Weighted Averages
Non Qualified Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Compensation, Stock Options, Activity	Following is a summary of activity in the Non-Qualified Stock Option Plans for the periods indicated: 2021 2020 2019 Shares Exercise Price* Shares Exercise Price* Shares Exercise Price* Options outstanding at beginning of year 3,000 $ 53.51 5,300 $ 46.87 40,200 $ 42.99 Granted — — — — — — Exercised (1,000) 53.51 (2,300) 38.22 (34,900) 42.40 Canceled — — — — — — Options outstanding at end of year 2,000 53.51 3,000 53.51 5,300 46.87 Options exercisable at end of year 2,000 $ 53.51 3,000 $ 53.51 5,300 $ 46.87 *Weighted Averages
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range	Options outstanding and exercisable as of December 31, 2021 were as follows: Non-Qualified Stock Options Options Outstanding Options Exercisable Shares Remaining Contractual Life (yrs)* Exercise Price* Shares Exercise Price* Range of Exercise Price $53.51 - $80.27 2,000 2.36 $ 53.51 2,000 $ 53.51 Total 2,000 2,000 *Weighted Averages

Retirement Benefit Plans (Table

Retirement Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Schedule of Defined Benefit Plans Disclosures	The following table sets forth the change in plan assets, change in projected benefit obligation, rate assumptions and components of net periodic benefit cost as of December 31 with respect to the plan. The measurement dates of the assets and liabilities of the plan were December 31 of the respective years presented. Reconciliation of Funded Status Year Ended December 31, (in thousands) 2021 2020 Change in projected benefit obligation Benefit obligation at beginning of year $ 24,100 $ 22,449 Service cost 5 4 Interest cost 553 689 Liability actuarial (gain) loss (994) 2,025 Benefits paid (1,100) (1,067) Benefit obligation at end of year $ 22,564 $ 24,100 Change in fair value of plan assets Fair value of plan assets at beginning of year $ 22,370 $ 20,605 Return on plan assets 2,401 2,832 Employer contributions — — Benefits paid (1,100) (1,067) Fair value of plan assets at end of year 23,671 22,370 Funded status $ 1,107 $ (1,730)
Schedule of Allocation of Plan Assets	The pension plans' weighted-average asset allocation as a percentage of plan assets at December 31 is as follows: Asset Allocation as a Percentage of the Plan Year Ended December 31, 2021 2020 Equity securities 36% 56% Debt securities 62% 38% Short-term investments 2% 2% Other —% 4% Total 100% 100%
Fair Value, Assets Measured on Recurring Basis	The following table presents the hierarchy levels for our postretirement benefit plan investments as of December 31 as described in Note 1 to the Consolidated Financial Statements: December 31, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mutual Funds: Mid Cap $ 637 $ 637 $ — $ — International 940 940 — — Common/Collective Trusts: Wells Fargo Liability Driven Solution CIT I 7,782 — 7,782 — Wells Fargo Liability Driven Solution CIT II 7,026 — 7,026 — Wells Fargo BlackRock International Equity 616 — 616 — Wells Fargo/Causeway International Value 586 — 586 — Wells Fargo BlackRock Large Cap Growth Index Fund 950 — 950 — Wells Fargo BlackRock Large Cap Value Index Fund 968 — 968 — Wells Fargo Multi-Manager Small Cap 1,015 — 1,015 — Wells Fargo BlackRock Russell 2000 Index Fund 332 — 332 — Wells Fargo BlackRock S&P Mid Cap Index Fund 419 — 419 — Wells Fargo/MFS Value CIT F 469 — 469 — Wells Fargo/T. Rowe Price Large-Cap Growth Managed CIT 465 — 465 — Wells Fargo/T. Rowe Price Equity Income Managed CIT 487 — 487 — Wells Fargo Voya Large Cap Growth CIT F 482 — 482 — Cash & Short-term Investments 497 497 — — Total $ 23,671 $ 2,074 $ 21,597 $ — December 31, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Mutual Funds: Mid Cap $ 1,450 $ 1,450 $ — $ — Large Cap 3,233 3,233 — — International 2,660 2,660 — — Common/Collective Trusts: Wells Fargo Liability Driven Solution 3,106 — 3,106 — Wells Fargo BlackRock International Equity 959 — 959 — Wells Fargo Core Bond 1,552 — 1,552 — Wells Fargo/Causeway International Value 923 — 923 — Wells Fargo BlackRock Large Cap Growth Index Fund 1,268 — 1,268 — Wells Fargo BlackRock Large Cap Value Index Fund 1,240 — 1,240 — Wells Fargo Multi-Manager Small Cap 1,544 — 1,544 — Wells Fargo BlackRock Russell 2000 Index Fund 702 — 702 — Wells Fargo BlackRock S&P Mid Cap Index Fund 781 — 781 — Wells Fargo/MFS Value CIT F 627 — 627 — Wells Fargo/T. Rowe Price Large-Cap Growth Managed CIT 639 — 639 — Wells Fargo/T. Rowe Price Equity Income Managed CIT 643 — 643 — Wells Fargo Voya Large Cap Growth CIT F 639 — 639 — Cash & Short-term Investments 404 404 — — Total $ 22,370 $ 7,747 $ 14,623 $ —
Schedule of Changes in Projected Benefit Obligations	The change in the Projected Benefit Obligation (PBO) as of December 31, 2021 and 2020, is shown below: Reconciliation of Benefit Obligation Year Ended December 31, (in thousands) 2021 2020 Benefit obligation at January 1, $ 10,160 $ 9,022 Service cost 369 305 Interest cost 205 236 Liability actuarial loss (gain) 759 1,168 Benefits paid (167) (1,025) Plan amendments — 454 Benefit obligation at December 31, $ 11,326 $ 10,160
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Schedule of Assumptions Used	In determining the projected benefit obligation and the net pension cost, we used the following significant weighted-average assumptions: Rates to Determine Benefit Obligation Year Ended December 31, 2021 2020 Discount rate 2.75% 2.35% Composite rate of compensation increase N/A N/A Rates to Determine Net Periodic Benefit Cost Year Ended December 31, 2021 2020 Discount rate 2.35% 3.15% Long-term rate of return on plan assets 7.25% 7.25% Composite rate of compensation increase N/A N/A
Schedule of Net Periodic Benefit Cost	The following table presents the components of net periodic benefit cost (gains are denoted with parentheses and losses are not): Components of Net Periodic Benefit Cost Year Ended December 31, (in thousands) 2021 2020 Service cost $ 5 $ 4 Interest cost 553 689 Expected return on plan assets (1,581) (1,452) Amortization of net loss 542 508 Net periodic benefit cost $ (481) $ (251)
Schedule of Expected Benefit Payments	The following table illustrates the estimated pension benefit payments that are projected to be paid: Projected Future Benefit Payments (in thousands) Employees’ Retirement Plan 2022 $ 1,269 2023 1,288 2024 1,301 2025 1,310 2026 1,306 Years 2027 through 2031 6,287
Supplemental Employee Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Schedule of Assumptions Used	In determining the projected benefit obligation and the net pension cost, we used the following significant weighted-average assumptions: Assumptions used to determine benefit obligations at December 31: Rates to Determine Benefit Obligation 2021 2020 Discount rate 2.50% 2.05% Composite rate of compensation increase 3.00% 3.00% Assumptions used to determine net periodic benefit cost for the years ended December 31: Rates to Determine Net Periodic Benefit Cost 2021 2020 Discount rate 2.05% 2.95% Composite rate of compensation increase 3.00% 3.00% Long-term rate of return on plan assets N/A N/A
Schedule of Net Periodic Benefit Cost	The components of net periodic pension expense were as follows: Components of Net Periodic Benefit Cost Year Ended December 31, (in thousands) 2021 2020 Service cost $ 369 $ 305 Interest cost 205 236 Amortization of prior service cost 413 317 Amortization of net (gain)/loss 318 158 Recognition of settlement — 188 Net periodic benefit cost $ 1,305 $ 1,204
Schedule of Expected Benefit Payments	Future estimated benefits expected to be paid from the plan over the next ten years as follows: Projected Future Benefit Payments (in thousands) SERP 2022 $ 456 2023 489 2024 530 2025 606 2026 828 Years 2027 through 2031 4,105

Revenue and Segment Reporting (

Revenue and Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Disaggregation of Revenue	Management has determined that this level of disaggregation would be beneficial to users of the financial statements. Revenue by Product Type December 31, (in thousands) 2021 2020 2019 Net Sales Wholegoods $ 1,024,158 $ 885,254 $ 875,805 Parts 262,432 247,126 207,766 Other 47,633 31,086 35,567 Consolidated $ 1,334,223 $ 1,163,466 $ 1,119,138
Schedule of Segment Reporting Information, by Segment	The following table presents the revenue and income from operations by reporting segment for the years ended December 31, 2021, 2020, and 2019: December 31, (in thousands) 2021 2020 2019 Net Revenue Vegetation Management $ 812,676 $ 654,630 $ 502,194 Industrial Equipment 521,547 508,836 616,944 Consolidated $ 1,334,223 $ 1,163,466 $ 1,119,138 Income from Operations Vegetation Management $ 78,917 $ 46,651 $ 34,035 Industrial Equipment 38,021 48,134 60,877 Consolidated $ 116,938 $ 94,785 $ 94,912 The following table presents the goodwill and total identifiable assets by reporting segment for the years ended December 31, 2021 and 2020: December 31, (in thousands) 2021 2020 Goodwill Vegetation Management $ 132,963 $ 124,981 Industrial Equipment 69,443 70,151 Consolidated $ 202,406 $ 195,132 Identifiable Assets Vegetation Management $ 789,838 $ 707,398 Industrial Equipment 415,904 414,461 Consolidated $ 1,205,742 $ 1,121,859

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Changes in accumulated other comprehensive loss by component, net of tax, were as follows: Twelve Months Ended December 31, 2021 2020 (in thousands) Foreign Currency Translation Adjustment Defined Benefit Plans Items Gaines (Losses) on Cash Flow Hedges Total Foreign Currency Translation Adjustment Defined Benefit Plans Items Gaines (Losses) on Cash Flow Hedges Total Balance as of beginning of period $ (26,597) $ (6,855) $ (6,874) $ (40,326) $ (35,459) $ (5,989) $ 610 $ (40,838) Other comprehensive income (loss) before reclassifications (15,800) — 7,984 (7,816) 8,862 — (5,789) 3,073 Amounts reclassified from accumulated other comprehensive loss — 1,838 (2,686) (848) — (866) (1,695) (2,561) Other comprehensive income (loss) (15,800) 1,838 5,298 (8,664) 8,862 (866) (7,484) 512 Balance as of end of period $ (42,397) $ (5,017) $ (1,576) $ (48,990) $ (26,597) $ (6,855) $ (6,874) $ (40,326)

International Operations and _2

International Operations and Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Schedule of International Operations	Following is selected financial information on the Company’s international operations, which include the United Kingdom, France, Netherlands, Canada, Brazil, and Australia: International Operations Financial Information December 31, (in thousands) 2021 2020 2019 Net sales $ 363,339 $ 312,462 $ 357,602 Income from operations 34,561 31,166 32,518 Income before income taxes 37,051 30,674 31,975 Identifiable assets 352,187 304,536 333,392
Schedule of Selected Geographic Financial Information	Following is other selected geographic financial information on the Company’s operations: Geographic Financial Information December 31, (in thousands) 2021 2020 2019 Geographic net sales: United States $ 953,024 $ 862,430 $ 774,854 France 92,052 81,259 99,145 Canada 83,392 65,313 72,950 United Kingdom 57,386 47,757 52,098 Brazil 31,365 16,592 17,919 Netherlands 27,964 23,946 23,462 Germany 8,977 9,328 7,825 Australia 20,980 10,999 7,550 Other 59,083 45,842 63,335 Total net sales $ 1,334,223 $ 1,163,466 $ 1,119,138 Geographic location of long-lived assets: United States $ 461,341 $ 480,940 $ 515,189 Netherlands 32,262 39,063 37,930 Canada 32,132 33,573 32,606 United Kingdom 36,569 18,843 19,840 France 19,781 21,033 19,513 Brazil 10,408 11,123 15,096 Australia 790 964 1,021 Total long-lived assets $ 593,283 $ 605,539 $ 641,195

Significant Accounting Polici_4

Significant Accounting Policies - Additional Information (Details)	3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2021USD ($)segment	Sep. 30, 2021segment	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Accounting Policies [Line Items]
Number of principal reporting segments | segment	2	2
Restricted cash	$ 0		$ 0	$ 0
Percentage of LIFO inventory				41.00%
Options
Accounting Policies [Line Items]
Award vesting period (years)			5 years
Rental Equipment
Accounting Policies [Line Items]
Accumulated depreciation relating to rental equipment	$ 20,100,000		$ 20,100,000	$ 18,000,000
Selling, General and Administrative expenses
Accounting Policies [Line Items]
Advertising expense			10,200,000	10,100,000	$ 12,200,000
Product development and engineering costs			$ 11,700,000	$ 12,400,000	$ 12,000,000
Minimum
Accounting Policies [Line Items]
Estimated useful lives			3 years
Maximum
Accounting Policies [Line Items]
Estimated useful lives			25 years
Option term (years)			10 years

Significant Accounting Polici_5

Significant Accounting Policies - Schedule of Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Inventory [Line Items]
Inventories, net	$ 320,917	$ 242,501	[1]
Deferred income taxes (liability)	21,458	22,812	[1]
Retained earnings	$ 633,804	560,186	[1]
As Originally Reported
Inventory [Line Items]
Inventories, net		229,971
Deferred income taxes (liability)		19,642
Retained earnings		550,826
Effect of Change
Inventory [Line Items]
Inventories, net		12,530
Deferred income taxes (liability)		3,170
Retained earnings		$ 9,360
[1]	Years ended December 31, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

Significant Accounting Polici_6

Significant Accounting Policies - Schedule of Fair Value Assumptions and Methodology (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Risk-free interest rate	1.25%	1.22%	2.43%
Dividend yield	0.40%	0.50%	0.50%
Volatility factors	33.90%	30.00%	31.20%
Weighted-average expected life	8 years	8 years	8 years

Business Combinations (Details)

Business Combinations (Details) - Dutch Power $ in Millions	Oct. 26, 2021USD ($)
Business Acquisition [Line Items]
Percentage of outstanding capital shares acquired	100.00%
Acquisition price	$ 25

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019
Earnings Per Share [Abstract]
Net income	$ 80,245	$ 57,804	[1]	$ 63,103	[2]
Average common shares:
Basic (weighted-average outstanding shares) (in shares)	11,837,000	11,782,000	[1]	11,729,000	[1]
Dilutive potential common shares from stock options (in shares)	59,000	63,000		71,000
Diluted (weighted-average outstanding shares) (in shares)	11,896,000	11,845,000	[1]	11,800,000	[1]
Basic earnings per share (in dollars per share)	$ 6.78	$ 4.91	[1]	$ 5.38	[1]
Diluted earnings per share (in dollars per share)	$ 6.75	$ 4.88	[1]	$ 5.35	[1]
Stock options excluded from diluted earnings per share calculation (in shares)	15,586	9,864		4,244
[1]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.
[2]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

Valuation and Qualifying Acco_3

Valuation and Qualifying Accounts - Schedule of Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reserve for sales discounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance Beginning of Year	$ 13,549	$ 16,883	$ 18,123
Net Charged to Costs and Expenses	116,114	93,398	91,962
Translations, Reclassifications and Acquisitions	(688)	15	39
Net Write-Offs or Discounts Taken	(116,408)	(96,747)	(93,241)
Balance End of Year	12,567	13,549	16,883
Reserve for inventory obsolescence
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance Beginning of Year	12,027	8,233	7,194
Net Charged to Costs and Expenses	6,531	4,609	5,711
Translations, Reclassifications and Acquisitions	(146)	1,471	6,467
Net Write-Offs or Discounts Taken	(5,504)	(2,286)	(11,139)
Balance End of Year	12,908	12,027	8,233
Reserve for warranty
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance Beginning of Year	9,096	10,249	4,992
Net Charged to Costs and Expenses	10,727	8,466	8,273
Translations, Reclassifications and Acquisitions	(132)	247	4,343
Net Write-Offs or Discounts Taken	(9,738)	(9,866)	(7,359)
Balance End of Year	$ 9,953	$ 9,096	$ 10,249

Valuation and Qualifying Acco_4

Valuation and Qualifying Accounts - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Inventory obsolescence reserves	$ 12,900	$ 12,000
Inventory usage period	3 years
Inventory reserve percentage	100.00%
Product warranty accrual period of expenses used in calculation	12 months
Product warranty accrual period for sales used in calculation	12 months
Warranty	$ 9,953	9,096
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Product warranty accrual lag period	3 months
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Product warranty accrual lag period	6 months
Wholegoods | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Product warranty period	1 year
Parts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Product warranty period	90 days
Reserve for sales discounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reserves for sales discounts on products shipped under promotional programs	$ 12,567	$ 13,549	$ 16,883	$ 18,123

Inventories - Schedule of Inven

Inventories - Schedule of Inventory, Current (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Finished goods and parts	$ 277,760	$ 208,656
Work in process	24,895	21,225
Raw materials	18,262	12,620
Inventory, net	$ 320,917	$ 242,501	[1]
[1]	Years ended December 31, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 321,863	$ 312,362	[1]
Less:  Accumulated depreciation	(169,372)	(156,928)	[1]
Total property, plant and equipment, net	152,491	155,434	[1]
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment	12,838	14,908
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 145,086	149,048
Buildings and improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	5 years
Buildings and improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	20 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 129,901	116,825
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	10 years
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 13,291	11,743
Office furniture and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Office furniture and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	7 years
Computer software
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 12,384	12,276
Computer software | Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Computer software | Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	7 years
Transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 8,363	$ 7,562
Useful Lives	3 years
[1]	Years ended December 31, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
Goodwill [Roll Forward]
Goodwill, balance at the beginning of the period	$ 195,132	[1]	$ 198,022		$ 83,243
Translation adjustment	(2,218)		1,168		20
Goodwill adjustment			(4,058)
Goodwill acquired	9,492				114,759
Goodwill, balance at the end of the period	202,406		195,132	[1]	198,022
Vegetation Management
Goodwill [Roll Forward]
Goodwill, balance at the beginning of the period	124,981		126,894		16,751
Translation adjustment	(1,510)		132		(72)
Goodwill adjustment			(2,045)
Goodwill acquired	9,492				110,215
Goodwill, balance at the end of the period	132,963		124,981		126,894
Industrial Equipment
Goodwill [Roll Forward]
Goodwill, balance at the beginning of the period	70,151		71,128		66,492
Translation adjustment	(708)		1,036		92
Goodwill adjustment			(2,013)
Goodwill acquired	0				4,544
Goodwill, balance at the end of the period	$ 69,443		$ 70,151		$ 71,128
[1]	Years ended December 31, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

Intangible Assets - Schedule of

Intangible Assets - Schedule of Definite and Indefinite Lived Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Definite	$ 227,963	$ 223,204
Less accumulated amortization	(49,997)	(35,532)
Total net	177,966	187,672
Total Intangible Assets	183,466	193,172	[1]
Trade names and trademarks
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Indefinite	5,500	5,500
Trade names and trademarks
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Definite	68,321	67,770
Less accumulated amortization	(11,100)
Total net	57,200
Customer and dealer relationships
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Definite	126,104	122,470
Less accumulated amortization	(30,400)
Total net	95,800
Patents and developed technologies
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Definite	29,338	28,764
Less accumulated amortization	(7,200)
Total net	$ 22,100
Favorable leasehold interests
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	7 years
Definite	$ 4,200	$ 4,200
Less accumulated amortization	(1,300)
Total net	$ 2,900
Minimum
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	3 years
Minimum | Trade names and trademarks
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	15 years
Minimum | Customer and dealer relationships
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	8 years
Minimum | Patents and developed technologies
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	3 years
Maximum
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	25 years
Maximum | Trade names and trademarks
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	25 years
Maximum | Customer and dealer relationships
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	15 years
Maximum | Patents and developed technologies
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	12 years
[1]	Years ended December 31, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Net carrying value of intangibles with definite useful lives	$ 177,966	$ 187,672
Accumulated amortization	49,997	$ 35,532
2022	14,500
2023	14,500
2024	14,500
2025	14,500
2026	14,500
Trade Names | Gradall
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Carrying values of indefinite lived trade names	3,600
Trade Names | Bush Hog
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Carrying values of indefinite lived trade names	1,900
Trade names and trademarks
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Net carrying value of intangibles with definite useful lives	57,200
Accumulated amortization	11,100
Customer and dealer relationships
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Net carrying value of intangibles with definite useful lives	95,800
Accumulated amortization	30,400
Patents and developed technologies
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Net carrying value of intangibles with definite useful lives	22,100
Accumulated amortization	7,200
Favorable leasehold interests
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by Major Class [Line Items]
Net carrying value of intangibles with definite useful lives	2,900
Accumulated amortization	$ 1,300

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Amortization of right-of-use assets	$ 67	$ 89
Interest on lease liabilities	3	7
Operating lease cost	5,571	4,824
Short-term lease cost	1,033	818
Variable lease cost	410	487
Total lease cost	$ 7,084	$ 6,225

Leases - Maturity Schedule (Det

Leases - Maturity Schedule (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating Leases
2022	$ 4,949
2023	3,793
2024	2,683
2025	2,036
2026	1,652
Thereafter	3,090
Total minimum lease payments	18,203
Less imputed interest	(1,311)
Total lease liabilities	$ 16,892	$ 14,245

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease expense	$ 7	$ 6.1	$ 5.5
Additional operating lease not yet commenced	$ 4.2

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating Leases
Other non-current assets	$ 16,744	$ 14,144
Accrued liabilities	4,655	3,680
Other long-term liabilities	12,237	10,565
Total operating lease liabilities	$ 16,892	$ 14,245
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets	Other non-current assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities
Operating leases, weighted average remaining lease term	5 years 1 month 20 days	5 years 9 months 29 days
Operating leases, weighted average remaining discount rate	2.83%	3.04%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating cash flows from operating leases	$ 5,013	$ 4,487

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Salaries, wages and bonuses	$ 37,462	$ 31,658
Lease liability	4,655	3,680
Taxes	1,902	5,907
Warranty	9,953	9,096
Retirement provision	2,967	3,252
Customer deposits	6,383	1,385
Other	10,201	9,656
Accrued liabilities	$ 73,523	$ 64,634	[1]
[1]	Years ended December 31, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Capital lease obligations	$ 56	$ 153
Total debt	269,554	285,386
Less current maturities	15,032	15,066	[1]
Total long-term debt	$ 254,522	$ 270,320	[1]
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Less current maturities	Less current maturities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total long-term debt	Total long-term debt
Term debt
Debt Instrument [Line Items]
Long-term debt	$ 265,498	$ 280,233
Line of Credit | Bank revolving credit facility
Debt Instrument [Line Items]
Long-term debt	$ 4,000	$ 5,000
[1]	Years ended December 31, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) $ in Thousands	Oct. 24, 2019USD ($)covenant	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
2022		$ 15,000
2023		15,000
2024		239,500
2025		10
Thereafter		0
the Credit Agreement | Bank revolving credit facility
Debt Instrument [Line Items]
Number of covenants | covenant	2
the Credit Agreement | Bank revolving credit facility | Line of Credit
Debt Instrument [Line Items]
Aggregate commitments	$ 650,000
Maximum amount of aggregate commitments	200,000
Fair value of amount outstanding		269,500
the Credit Agreement | Bank revolving credit facility | Term Facility
Debt Instrument [Line Items]
Aggregate commitments	$ 300,000
Interest rate during period	5.00%
Expiration period	5 years
Fair value of amount outstanding		$ 265,500
Interest rate at period end		1.60%
the Credit Agreement | Bank revolving credit facility | Standby Letters of Credit
Debt Instrument [Line Items]
Aggregate commitments	$ 350,000
Expiration period	5 years
Fair value of amount outstanding		$ 4,000
Interest rate at period end		3.75%
Amount of capacity		$ 2,400
Available borrowings		$ 255,000

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income (Loss) before Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019
Income Tax Disclosure [Abstract]
Domestic	$ 74,070	$ 50,977		$ 54,830
Foreign	35,428	28,780		29,769
Income before income taxes	$ 109,498	$ 79,757	[1]	$ 84,599	[1]
[1]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019
Current:
Domestic	$ 16,846	$ 10,823		$ 6,403
Foreign	8,646	8,759		8,419
State	4,943	3,226		3,291
Provision for current income tax expense (benefit)	30,435	22,808		18,113
Deferred:
Domestic	(679)	1,238		3,906
Foreign	(274)	(1,199)		(280)
State	(229)	(894)		(243)
Provision for deferred income tax expense (benefit)	(1,182)	(855)	[1]	3,383	[1]
Provision for income tax	$ 29,253	$ 21,953	[2]	$ 21,496	[2]
[1]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.
[2]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

Income Taxes - Income Tax Recon

Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax expense at statutory rates	$ 22,995	$ 16,749	$ 17,765
Increase (reduction) from:
Jurisdictional rate differences	1,599	1,034	988
Executive compensation limitation	1,314	170	715
Stock based compensation	(322)	(366)	(358)
U.S. state taxes	3,724	2,556	3,137
Foreign tax expense	0	704	0
R&D credit	(670)	(415)	(699)
GILTI	0	50	872
Previously unrecognized tax (benefit)/expense	8	2,219	(1,504)
Other, net	605	(748)	580
Provision for income taxes	$ 29,253	$ 21,953	$ 21,496
Effective tax rate	27.00%	28.00%	25.00%

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred income tax assets:
Inventory basis difference	$ 892	$ 519
Accounts receivable reserve	240	255
Rental equipment and Property, plant and equipment	201	144
Stock based compensation	688	606
Pension liability	3,116	3,655
Employee benefit accrual	2,747	1,585
Product liability and warranty reserves	2,155	2,242
Foreign net operating loss	3,764	3,566
Lease liability	3,858	3,376
State net operating loss	157	148
Other	1,016	1,891
Total deferred income tax assets	18,834	17,987
Less: Valuation allowance	(4,129)	(3,641)
Net deferred income tax assets	14,705	14,346
Deferred income tax liabilities:
Inventory basis differences	(165)	(287)
Rental equipment and Property, plant and equipment	(13,844)	(14,818)
Lease asset	(3,794)	(3,351)
Intangible assets	(16,197)	(16,496)
Expenses not currently deductible for book purposes	(1,053)	(1,003)
Total deferred income tax liabilities	(35,053)	(35,955)
Net deferred income taxes	$ (20,348)	$ (21,609)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	Dec. 31, 2021USD ($)
Operating Loss Carryforwards [Line Items]
Income tax penalties and interest cacrued	$ 0
Withholding taxes	4,500,000
Foreign
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards with unlimited carryforward period	11,800,000
Net operating loss carryforwards expiring in 2035	800,000
State
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 3,600,000

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance as of beginning of year	$ 262	$ 262
Increases for tax positions related to the current year	82	88
Decreases due to lapse of statute of limitations	(74)	(88)
Balance as of end of year	$ 270	$ 262

Common Stock (Details)

Common Stock (Details) - USD ($)	Feb. 01, 2022	Jan. 03, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Dividends paid (in dollars per share)			$ 0.56	$ 0.52	$ 0.48
Stock repurchase program, authorized amount			$ 30,000,000
Common stock repurchased (in shares)			0
Subsequent Event
Class of Stock [Line Items]
Dividends per share (in dollars per share)		$ 0.18
Dividends paid (in dollars per share)	$ 0.18

Stock Options - Additional Info

Stock Options - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	May 02, 2019	May 07, 2015	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option term (years)			10 years
Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of options granted (in dollars per share)			$ 59.01	$ 38.33	$ 39.85
Stock option expense			$ 600	$ 500	$ 500
Total unrecognized compensation cost related to non-vested share-based compensation arrangements			$ 1,200
Period cost is expected to be recognized (years)			5 years
Granted (in shares)			18,900	13,950	12,150
Exercise of stock options (in shares)			30,210	31,300	28,100
Non Qualified Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option expense			$ 0	$ 0	$ 10
Total unrecognized compensation cost related to non-vested share-based compensation arrangements			$ 0
Granted (in shares)			0	0	0
Exercise of stock options (in shares)			1,000	2,300	34,900
Proceeds from stock options exercised			$ 100	$ 100	$ 1,500
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option expense			5,400	$ 3,700	$ 2,800
Total unrecognized compensation cost related to non-vested share-based compensation arrangements			$ 6,300
Weighted average remaining contractual life (years)			1 year 7 months 9 days	1 year 11 months 12 days	2 years 5 months 23 days
Restricted Stock Units (RSUs) | Granted prior to 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period cost is expected to be recognized (years)			4 years
Restricted Stock Units (RSUs) | Granted after 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (years)			3 years
Restricted Stock Units (RSUs) | Year One after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award				25.00%	25.00%
Award vesting period (years)			3 years	1 year	1 year
Restricted Stock Units (RSUs) | Year Two after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award				25.00%	25.00%
Restricted Stock Units (RSUs) | Year Three after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award				25.00%	25.00%
Restricted Stock Units (RSUs) | Year Four after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award				25.00%	25.00%
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award			50.00%
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award			50.00%
Performance period			3 years
Option term (years)			3 years
2015 ISO Plan | Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock reserved for options to be issued (in shares)		400,000
2015 ISO Plan | Qualified Stock Options | Year One after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (years)		1 year
2015 ISO Plan | Qualified Stock Options | Year One after Grant Date | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award		20.00%
2015 ISO Plan | Qualified Stock Options | Year Two after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award		20.00%
2015 ISO Plan | Qualified Stock Options | Year Three after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award		20.00%
2015 ISO Plan | Qualified Stock Options | Year Four after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award		20.00%
2015 ISO Plan | Qualified Stock Options | Year Five after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award		20.00%
2009 Equity Incentive Plan | Non Qualified Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock reserved for options to be issued (in shares)	500,000
2009 Equity Incentive Plan | Non Qualified Options | Year One after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (years)	1 year
2009 Equity Incentive Plan | Non Qualified Options | Year One after Grant Date | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	20.00%
2009 Equity Incentive Plan | Non Qualified Options | Year Two after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	20.00%
2009 Equity Incentive Plan | Non Qualified Options | Year Three after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	20.00%
2009 Equity Incentive Plan | Non Qualified Options | Year Four after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	20.00%
2009 Equity Incentive Plan | Non Qualified Options | Year Five after Grant Date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage of award	20.00%

Stock Options - Schedule of Qua

Stock Options - Schedule of Qualified Stock Option Activity (Details) - Qualified Stock Options - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Shares
Options outstanding at beginning of year (in shares)	100,920	119,720	140,170
Granted (in shares)	18,900	13,950	12,150
Exercised (in shares)	(30,210)	(31,300)	(28,100)
Canceled (in shares)	(2,000)	(1,450)	(4,500)
Options outstanding at end of year (in shares)	87,610	100,920	119,720
Exercise Price
Outstanding at beginning of year, exercise price (in dollars per share)	$ 68.58	$ 57.65	$ 49.78
Granted, exercise price (in dollars per share)	156.38	114.53	105.56
Exercised, exercise price (in dollars per share)	53.68	45.94	38.93
Canceled, exercise price (in dollars per share)	130.92	96.97	58.57
Outstanding at end of year, exercise price (in dollars per share)	$ 91.24	$ 68.58	$ 57.65
Options exercisable at end of year (in shares)	49,360	67,700	85,070
Exercisable at end of year, exercise price (in dollars per share)	$ 61.21	$ 52.60	$ 47.10
Options available for grant at end of year (in shares)	297,850	314,750	327,250

Stock Options - Schedule of Q_2

Stock Options - Schedule of Qualified Stock Options Outstanding and Exercisable (Details) - Qualified Stock Options - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options outstanding (in shares)	87,610	100,920	119,720	140,170
Options exercisable (in shares)	49,360	67,700	85,070
$32.76 - $52.51
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise price, lower range limit (in dollars per share)	$ 32.76
Range of exercise price, upper range limit (in dollars per share)	$ 52.51
Options outstanding, exercise price range (in shares)	16,100
Options outstanding, remaining contractual life	1 year 5 months 26 days
Options outstanding, exercise price (in dollars per share)	$ 40.88
Options exercisable, exercise price range (in shares)	16,100
Options exercisable, exercise price (in dollars per share)	$ 40.88
$53.51 - $80.27
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise price, lower range limit (in dollars per share)	53.51
Range of exercise price, upper range limit (in dollars per share)	$ 80.27
Options outstanding, exercise price range (in shares)	19,800
Options outstanding, remaining contractual life	3 years 4 months 6 days
Options outstanding, exercise price (in dollars per share)	$ 54.20
Options exercisable, exercise price range (in shares)	19,800
Options exercisable, exercise price (in dollars per share)	$ 54.20
$83.99 - $125.99
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise price, lower range limit (in dollars per share)	83.99
Range of exercise price, upper range limit (in dollars per share)	$ 125.99
Options outstanding, exercise price range (in shares)	33,710
Options outstanding, remaining contractual life	7 years 29 days
Options outstanding, exercise price (in dollars per share)	$ 102.27
Options exercisable, exercise price range (in shares)	13,460
Options exercisable, exercise price (in dollars per share)	$ 95.85
$156.38 - $234.57
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise price, lower range limit (in dollars per share)	156.38
Range of exercise price, upper range limit (in dollars per share)	$ 234.57
Options outstanding, exercise price range (in shares)	18,000
Options outstanding, remaining contractual life	9 years 1 month 28 days
Options outstanding, exercise price (in dollars per share)	$ 156.38
Options exercisable, exercise price range (in shares)	0
Options exercisable, exercise price (in dollars per share)	$ 0

Stock Options - Equity Incentiv

Stock Options - Equity Incentive Plan (Details) - shares	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Non Qualified Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options available for grant at end of year (in shares)	423,969	455,549	499,640

Stock Options - Schedule of Non

Stock Options - Schedule of Non-Qualified Stock Options Activity (Details) - Non Qualified Options - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Shares
Options outstanding at beginning of year (in shares)	3,000	5,300	40,200
Granted (in shares)	0	0	0
Exercised (in shares)	(1,000)	(2,300)	(34,900)
Canceled (in shares)	0	0	0
Options outstanding at end of year (in shares)	2,000	3,000	5,300
Exercise Price
Outstanding at beginning of year, exercise price (in dollars per share)	$ 53.51	$ 46.87	$ 42.99
Granted, exercise price (in dollars per share)	0	0	0
Exercised, exercise price (in dollars per share)	53.51	38.22	42.40
Canceled, exercise price (in dollars per share)	0	0	0
Outstanding at end of year, exercise price (in dollars per share)	$ 53.51	$ 53.51	$ 46.87
Options exercisable at end of year (in shares)	2,000	3,000	5,300
Exercisable at end of year, exercise price (in dollars per share)	$ 53.51	$ 53.51	$ 46.87

Stock Options - Schedule of N_2

Stock Options - Schedule of Non-Qualified Stock Options Outstanding and Exercisable (Details) - Non Qualified Options - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options outstanding (in shares)	2,000	3,000	5,300	40,200
Options exercisable (in shares)	2,000	3,000	5,300
$53.51 - $80.27
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise price, lower range limit (in dollars per share)	$ 53.51
Range of exercise price, upper range limit (in dollars per share)	$ 80.27
Options outstanding, exercise price range (in shares)	2,000
Options outstanding, remaining contractual life	2 years 4 months 9 days
Options outstanding, exercise price (in dollars per share)	$ 53.51
Options exercisable, exercise price range (in shares)	2,000
Options exercisable, exercise price (in dollars per share)	$ 53.51

Stock Options - Schedule of Res

Stock Options - Schedule of Restricted Stock Award Activity (Details) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Shares
Outstanding at beginning of year (in shares)	91,043	78,705	75,636
Granted (in shares)	35,224	44,307	36,060
Exercised (in shares)	(45,651)	(31,594)	(32,466)
Canceled (in shares)	0	(375)	(525)
Outstanding at end of year (in shares)	80,616	91,043	78,705
Grant-Date Fair Value
Outstanding at beginning of year (in dollars per share)	$ 104.77	$ 94.34	$ 81.39
Granted (in dollars per share)	157	111.95	105.69
Exercised (in dollars per share)	101.36	88.90	69.94
Canceled (in dollars per share)	0	100.34	99.96
Outstanding at end of year (in dollars per share)	$ 129.53	$ 104.77	$ 94.34

Retirement Benefit Plans - Addi

Retirement Benefit Plans - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022USD ($)	Dec. 31, 2021USD ($)subsidiaryplanemployee	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Feb. 03, 2006plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of non-contributory defined benefit pension plans | plan					2
Number of defined contribution plans | plan		2
Estimated
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Estimate of amount of unrecognized actuarial expense	$ 0.2
Supplemental Employee Retirement Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
SERP credited service period		10 years
Percentage of final 3 year average salary in which retirement benefit is based (percentage)		20.00%
Number of final years in which the Retirement Benefit is based		3 years
Retirement age		65 years
Period of time that vested retirement benefit will be paid after death or change in control		90 days
Years of monthly installments associated with SERP disability		15 years
Supplemental Employee Retirement Plan | Estimated
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Estimate of amount of unrecognized actuarial expense	$ 0.9
Supplemental Employee Retirement Plan | Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Current retirement benefit percentage		10.00%
Supplemental Employee Retirement Plan | Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Current retirement benefit percentage		20.00%
Employees’ Retirement Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Former employees | employee		248
Current employees | employee		55
IAM Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Annual contribution amount		$ 0.5	$ 0.4	$ 0.6
United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Annual contribution amount		3.9	3.5	2.8
Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Annual contribution amount		$ 0.9	$ 0.9	$ 0.9
Number of international subsidiaries that participate in defined contribution and savings plan | subsidiary		3
Foreign Plan | Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contribution percentage		0.00%
Foreign Plan | Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contribution percentage		10.00%

Retirement Benefit Plans - Sche

Retirement Benefit Plans - Schedule of Defined Benefit Plans Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Change in fair value of plan assets
Fair value of plan assets at beginning of year	$ 22,370
Fair value of plan assets at end of year	23,671	$ 22,370
Pension Plan
Change in projected benefit obligation
Benefit obligation at beginning of year	24,100	22,449
Service cost	5	4
Interest cost	553	689
Liability actuarial (gain) loss	(994)	2,025
Benefits paid	(1,100)	(1,067)
Benefit obligation at end of year	22,564	24,100
Change in fair value of plan assets
Fair value of plan assets at beginning of year	22,370	20,605
Return on plan assets	2,401	2,832
Employer contributions	0	0
Benefits paid	(1,100)	(1,067)
Fair value of plan assets at end of year	23,671	22,370
Funded status	1,107	(1,730)
Supplemental Employee Retirement Plan
Change in projected benefit obligation
Benefit obligation at beginning of year	10,160	9,022
Service cost	369	305
Interest cost	205	236
Liability actuarial (gain) loss	759	1,168
Benefits paid	(167)	(1,025)
Plan amendments	0	454
Benefit obligation at end of year	$ 11,326	$ 10,160

Retirement Benefit Plans - Sc_2

Retirement Benefit Plans - Schedule of Assumptions Used (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.75%	2.35%
Discount rate	2.35%	3.15%
Long-term rate of return on plan assets	7.25%	7.25%
Supplemental Employee Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.50%	2.05%
Composite rate of compensation increase	3.00%	3.00%
Discount rate	2.05%	2.95%
Composite rate of compensation increase	3.00%	3.00%

Retirement Benefit Plans - Sc_3

Retirement Benefit Plans - Schedule of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 5	$ 4
Interest cost	553	689
Expected return on plan assets	(1,581)	(1,452)
Amortization of net (gain)/loss	542	508
Net periodic benefit cost	(481)	(251)
Supplemental Employee Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	369	305
Interest cost	205	236
Amortization of prior service cost	413	317
Amortization of net (gain)/loss	318	158
Recognition of settlement	0	188
Net periodic benefit cost	$ 1,305	$ 1,204

Retirement Benefit Plans - Weig

Retirement Benefit Plans - Weighted Average Asset Allocations (Details) - Pension Plan	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Asset allocations as a percentage of plan assets	100.00%	100.00%
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Asset allocations as a percentage of plan assets	36.00%	56.00%
Debt securities
Defined Benefit Plan Disclosure [Line Items]
Asset allocations as a percentage of plan assets	62.00%	38.00%
Short-term investments
Defined Benefit Plan Disclosure [Line Items]
Asset allocations as a percentage of plan assets	2.00%	2.00%
Other
Defined Benefit Plan Disclosure [Line Items]
Asset allocations as a percentage of plan assets	0.00%	4.00%

Retirement Benefit Plans - Sc_4

Retirement Benefit Plans - Schedule of Fair Value of Plan Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 23,671	$ 22,370
Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,074	7,747
Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	21,597	14,623
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Mid Cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	637	1,450
Mid Cap | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	637	1,450
Mid Cap |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Mid Cap |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Large Cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		3,233
Large Cap | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		3,233
Large Cap |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0
Large Cap |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0
International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	940	2,660
International | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	940	2,660
International |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo Liability Driven Solution CIT I
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	7,782	3,106
Wells Fargo Liability Driven Solution CIT I | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo Liability Driven Solution CIT I |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	7,782	3,106
Wells Fargo Liability Driven Solution CIT I |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo Liability Driven Solution CIT II
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	7,026
Wells Fargo Liability Driven Solution CIT II | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Wells Fargo Liability Driven Solution CIT II |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	7,026
Wells Fargo Liability Driven Solution CIT II |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Wells Fargo BlackRock International Equity
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	616	959
Wells Fargo BlackRock International Equity | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo BlackRock International Equity |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	616	959
Wells Fargo BlackRock International Equity |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo Core Bond
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1,552
Wells Fargo Core Bond | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0
Wells Fargo Core Bond |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1,552
Wells Fargo Core Bond |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0
Wells Fargo/Causeway International Value
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	586	923
Wells Fargo/Causeway International Value | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo/Causeway International Value |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	586	923
Wells Fargo/Causeway International Value |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo BlackRock Large Cap Growth Index Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	950	1,268
Wells Fargo BlackRock Large Cap Growth Index Fund | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo BlackRock Large Cap Growth Index Fund |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	950	1,268
Wells Fargo BlackRock Large Cap Growth Index Fund |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo BlackRock Large Cap Value Index Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	968	1,240
Wells Fargo BlackRock Large Cap Value Index Fund | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo BlackRock Large Cap Value Index Fund |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	968	1,240
Wells Fargo BlackRock Large Cap Value Index Fund |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo Multi-Manager Small Cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,015	1,544
Wells Fargo Multi-Manager Small Cap | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo Multi-Manager Small Cap |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,015	1,544
Wells Fargo Multi-Manager Small Cap |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo BlackRock Russell 2000 Index Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	332	702
Wells Fargo BlackRock Russell 2000 Index Fund | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo BlackRock Russell 2000 Index Fund |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	332	702
Wells Fargo BlackRock Russell 2000 Index Fund |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo BlackRock S&P Mid Cap Index Fund
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	419	781
Wells Fargo BlackRock S&P Mid Cap Index Fund | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo BlackRock S&P Mid Cap Index Fund |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	419	781
Wells Fargo BlackRock S&P Mid Cap Index Fund |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo/MFS Value CIT F
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	469	627
Wells Fargo/MFS Value CIT F | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo/MFS Value CIT F |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	469	627
Wells Fargo/MFS Value CIT F |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo/T. Rowe Price Large-Cap Growth Managed CIT
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	465	639
Wells Fargo/T. Rowe Price Large-Cap Growth Managed CIT | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo/T. Rowe Price Large-Cap Growth Managed CIT |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	465	639
Wells Fargo/T. Rowe Price Large-Cap Growth Managed CIT |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo/T. Rowe Price Equity Income Managed CIT
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	487	643
Wells Fargo/T. Rowe Price Equity Income Managed CIT | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo/T. Rowe Price Equity Income Managed CIT |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	487	643
Wells Fargo/T. Rowe Price Equity Income Managed CIT |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo Voya Large Cap Growth CIT F
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	482	639
Wells Fargo Voya Large Cap Growth CIT F | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Wells Fargo Voya Large Cap Growth CIT F |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	482	639
Wells Fargo Voya Large Cap Growth CIT F |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash & Short-term Investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	497	404
Cash & Short-term Investments | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	497	404
Cash & Short-term Investments |   Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash & Short-term Investments |   Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 0	$ 0

Retirement Benefit Plans - Sc_5

Retirement Benefit Plans - Schedule of Expected Benefit Payments (Details) $ in Thousands	Dec. 31, 2021USD ($)
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
2022	$ 1,269
2023	1,288
2024	1,301
2025	1,310
2026	1,306
Years 2027 through 2031	6,287
Supplemental Employee Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
2022	456
2023	489
2024	530
2025	606
2026	828
Years 2027 through 2031	$ 4,105

Revenue and Segment Reporting -

Revenue and Segment Reporting - Schedule of Segment Reporting (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Segment Reporting Information [Line Items]
Net Revenue	$ 1,334,223	$ 1,163,466	[1]	$ 1,119,138	[1]
Income from Operations	116,938	94,785	[1]	94,912	[1]
Goodwill	202,406	195,132	[2]	198,022		$ 83,243
Identifiable Assets	1,205,742	1,121,859	[2]
Vegetation Management
Segment Reporting Information [Line Items]
Net Revenue	812,676	654,630	[1]	502,194	[1]
Income from Operations	78,917	46,651		34,035
Goodwill	132,963	124,981		126,894		16,751
Identifiable Assets	789,838	707,398
Industrial Equipment
Segment Reporting Information [Line Items]
Net Revenue	521,547	508,836	[1]	616,944	[1]
Income from Operations	38,021	48,134		60,877
Goodwill	69,443	70,151		71,128		$ 66,492
Identifiable Assets	415,904	414,461
Wholegoods
Segment Reporting Information [Line Items]
Net Revenue	1,024,158	885,254		875,805
Parts
Segment Reporting Information [Line Items]
Net Revenue	262,432	247,126		207,766
Other
Segment Reporting Information [Line Items]
Net Revenue	$ 47,633	$ 31,086		$ 35,567
[1]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.
[2]	Years ended December 31, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

Revenue and Segment Reporting_2

Revenue and Segment Reporting - Additional Information (Details) - segment	3 Months Ended	9 Months Ended
	Dec. 31, 2021	Sep. 30, 2021
Segment Reporting [Abstract]
Number of principal reporting segments	2	2

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	[2]	$ 635,003	[1]	$ 577,943		$ 515,360
Other comprehensive income (loss) before reclassifications		(15,800)		8,862	[3]	3,363	[3]
Amounts reclassified from accumulated other comprehensive loss		1,838		(866)	[3]	20	[3]
Other comprehensive (loss) income, net of tax		(8,664)		512	[3]	3,993	[3]
Ending balance		705,663		635,003	[1],[2]	577,943	[2]
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(26,597)		(35,459)
Other comprehensive income (loss) before reclassifications		(15,800)		8,862	[3]
Amounts reclassified from accumulated other comprehensive loss		0		0
Other comprehensive (loss) income, net of tax		(15,800)		8,862
Ending balance		(42,397)		(26,597)		(35,459)
Defined Benefit Plans Items
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(6,855)		(5,989)
Other comprehensive income (loss) before reclassifications		0		0
Amounts reclassified from accumulated other comprehensive loss		1,838		(866)	[3]
Other comprehensive (loss) income, net of tax		1,838		(866)
Ending balance		(5,017)		(6,855)		(5,989)
Gaines (Losses) on Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(6,874)		610
Other comprehensive income (loss) before reclassifications		7,984		(5,789)
Amounts reclassified from accumulated other comprehensive loss		(2,686)		(1,695)
Other comprehensive (loss) income, net of tax		5,298		(7,484)
Ending balance		(1,576)		(6,874)		610
Accumulated Other Comprehensive Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	[2]	(40,326)		(40,838)		(44,831)
Other comprehensive income (loss) before reclassifications		(7,816)		3,073
Amounts reclassified from accumulated other comprehensive loss		(848)		(2,561)
Other comprehensive (loss) income, net of tax		(8,664)		512
Ending balance		$ (48,990)		$ (40,326)	[2]	$ (40,838)	[2]
[1]	Years ended December 31, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.
[2]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.
[3]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

International Operations and _3

International Operations and Geographic Information - Schedule of International Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019
Segment Reporting Information [Line Items]
Net sales	$ 1,334,223	$ 1,163,466		$ 1,119,138
Income from operations	116,938	94,785	[1]	94,912	[1]
Income before income taxes	109,498	79,757	[1]	84,599	[1]
Identifiable assets	1,205,742	1,121,859	[2]
Non-US
Segment Reporting Information [Line Items]
Net sales	363,339	312,462		357,602
Income from operations	34,561	31,166		32,518
Income before income taxes	37,051	30,674		31,975
Identifiable assets	$ 352,187	$ 304,536		$ 333,392
[1]	Years ended December 31, 2020 and 2019 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.
[2]	Years ended December 31, 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Note 1 to the Consolidated Financial Statements.

International Operations and _4

International Operations and Geographic Information - Schedule of Selected Geographic Financial Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 1,334,223	$ 1,163,466	$ 1,119,138
Long-lived assets	593,283	605,539	641,195
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	953,024	862,430	774,854
Long-lived assets	461,341	480,940	515,189
France
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	92,052	81,259	99,145
Long-lived assets	19,781	21,033	19,513
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	83,392	65,313	72,950
Long-lived assets	32,132	33,573	32,606
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	57,386	47,757	52,098
Long-lived assets	36,569	18,843	19,840
Brazil
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	31,365	16,592	17,919
Long-lived assets	10,408	11,123	15,096
Netherlands
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	27,964	23,946	23,462
Long-lived assets	32,262	39,063	37,930
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	8,977	9,328	7,825
Australia
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	20,980	10,999	7,550
Long-lived assets	790	964	1,021
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 59,083	$ 45,842	$ 63,335