$ALTG
ALTA EQUIPMENT GROUP INC.

2022 Q2 Form 10-Q Financial Statement

#000095017022008958 Filed on May 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $406.5M $331.7M $356.3M
YoY Change 38.88% 23.4% 27.07%
Cost Of Revenue $300.7M $240.3M $267.2M
YoY Change 39.34% 19.26% 23.7%
Gross Profit $105.8M $91.40M $89.10M
YoY Change 37.58% 35.81% 38.35%
Gross Profit Margin 26.03% 27.56% 25.01%
Selling, General & Admin $88.80M $82.90M $76.50M
YoY Change 24.02% 27.73% 21.82%
% of Gross Profit 83.93% 90.7% 85.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $27.30M $24.20M $26.60M
YoY Change 16.67% 13.08% 13.68%
% of Gross Profit 25.8% 26.48% 29.85%
Operating Expenses $92.80M $86.80M $80.70M
YoY Change 25.92% 29.94% 24.35%
Operating Profit $13.00M $4.600M $8.400M
YoY Change 306.25% 820.0% -1780.0%
Interest Expense -$6.800M $6.100M -$6.400M
YoY Change -215.25% 5.17% 4.92%
% of Operating Profit -52.31% 132.61% -76.19%
Other Income/Expense, Net $400.0K -$5.800M $400.0K
YoY Change -102.25% 1.75% 100.0%
Pretax Income $6.600M -$1.200M $2.400M
YoY Change -145.21% -76.92% -137.5%
Income Tax $500.0K $0.00 $3.100M
% Of Pretax Income 7.58% 129.17%
Net Earnings $6.100M -$1.200M -$700.0K
YoY Change -141.78% -78.95% -78.13%
Net Earnings / Revenue 1.5% -0.36% -0.2%
Basic Earnings Per Share $0.17 -$0.06
Diluted Earnings Per Share $189.7K -$0.06 -$21.62K
COMMON SHARES
Basic Shares Outstanding 32.45M 32.36M
Diluted Shares Outstanding 32.15M 32.36M

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $500.0K $1.600M $2.300M
YoY Change -72.22% 166.67% 91.67%
Cash & Equivalents $500.0K $1.600M $2.300M
Short-Term Investments
Other Short-Term Assets $30.40M $22.80M $24.40M
YoY Change 39.45% 71.43%
Inventory $296.6M $291.0M $239.2M
Prepaid Expenses
Receivables $211.2M $189.3M $182.7M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $538.7M $504.7M $448.6M
YoY Change 33.54% 32.36% 17.56%
LONG-TERM ASSETS
Property, Plant & Equipment $444.9M $337.0M $344.5M
YoY Change 36.06% 8.43% 10.45%
Goodwill $43.50M $41.90M
YoY Change 68.6% 72.43%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.000M $1.500M $1.600M
YoY Change 130.77% 0.0% -23.81%
Total Long-Term Assets $532.4M $525.9M $534.0M
YoY Change 40.22% 44.6% 46.46%
TOTAL ASSETS
Total Short-Term Assets $538.7M $504.7M $448.6M
Total Long-Term Assets $532.4M $525.9M $534.0M
Total Assets $1.071B $1.031B $982.6M
YoY Change 36.78% 38.34% 31.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $77.40M $63.60M $73.50M
YoY Change 14.67% 14.59% 24.79%
Accrued Expenses $57.60M $46.50M $39.30M
YoY Change 67.44% 61.46% 30.56%
Deferred Revenue
YoY Change
Short-Term Debt $322.2M $300.9M $253.2M
YoY Change 70.57% -7.07% -19.64%
Long-Term Debt Due $3.100M $2.700M $2.600M
YoY Change -65.38% -70.11%
Total Short-Term Liabilities $506.6M $470.7M $420.6M
YoY Change 58.21% 7.07% -3.15%
LONG-TERM LIABILITIES
Long-Term Debt $322.3M $310.2M $310.0M
YoY Change 4.2% 132.36% 129.63%
Other Long-Term Liabilities $96.10M $3.300M $3.600M
YoY Change 933.33% -66.67% -47.83%
Total Long-Term Liabilities $418.4M $313.5M $313.6M
YoY Change 31.32% 118.62% 121.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $506.6M $470.7M $420.6M
Total Long-Term Liabilities $418.4M $313.5M $313.6M
Total Liabilities $931.9M $897.6M $847.9M
YoY Change 44.01% 51.24% 43.88%
SHAREHOLDERS EQUITY
Retained Earnings -$78.80M -$76.80M
YoY Change 33.33% 43.82%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.900M $5.900M
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $139.2M $133.0M $134.7M
YoY Change
Total Liabilities & Shareholders Equity $1.071B $1.031B $982.6M
YoY Change 36.78% 38.34% 31.68%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income $6.100M -$1.200M -$700.0K
YoY Change -141.78% -78.95% -78.13%
Depreciation, Depletion And Amortization $27.30M $24.20M $26.60M
YoY Change 16.67% 13.08% 13.68%
Cash From Operating Activities $10.10M -$6.700M $26.60M
YoY Change 13.48% -1216.67% 322.22%
INVESTING ACTIVITIES
Capital Expenditures -$18.70M $1.800M -$14.40M
YoY Change 1.63% 20.0% 94.59%
Acquisitions $1.200M
YoY Change -36.84%
Other Investing Activities -$100.0K -$1.100M -$58.60M
YoY Change -66.67% -8.33% 15.35%
Cash From Investing Activities -$18.80M -$18.60M -$73.00M
YoY Change 0.53% 89.8% 25.43%
FINANCING ACTIVITIES
Cash Dividend Paid $800.0K
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.600M 24.60M 47.50M
YoY Change -30.91% 186.05% -10.38%
NET CHANGE
Cash From Operating Activities 10.10M -6.700M 26.60M
Cash From Investing Activities -18.80M -18.60M -73.00M
Cash From Financing Activities 7.600M 24.60M 47.50M
Net Change In Cash -1.100M -700.0K 1.100M
YoY Change -191.67% 16.67% 0.0%
FREE CASH FLOW
Cash From Operating Activities $10.10M -$6.700M $26.60M
Capital Expenditures -$18.70M $1.800M -$14.40M
Free Cash Flow $28.80M -$8.500M $41.00M
YoY Change 5.49% 844.44% 199.27%

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5900000
CY2022Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
82600000
CY2021Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
33400000
CY2022Q1 altg Proceeds From Sale Of Rental Equipment
ProceedsFromSaleOfRentalEquipment
40800000
CY2021Q1 altg Proceeds From Sale Of Rental Equipment
ProceedsFromSaleOfRentalEquipment
31800000
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1700000
CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-500000
CY2022Q1 altg Proceeds From Floor Plans With Manufacturers
ProceedsFromFloorPlansWithManufacturers
127100000
CY2021Q1 altg Proceeds From Floor Plans With Manufacturers
ProceedsFromFloorPlansWithManufacturers
84800000
CY2022Q1 altg Payments Under Floor Plans With Manufacturers
PaymentsUnderFloorPlansWithManufacturers
105400000
CY2021Q1 altg Payments Under Floor Plans With Manufacturers
PaymentsUnderFloorPlansWithManufacturers
86900000
CY2022Q1 altg Increase Decrease In Accounts Payable Accrued Expenses Customer Deposits And Other Current
IncreaseDecreaseInAccountsPayableAccruedExpensesCustomerDepositsAndOtherCurrent
200000
CY2021Q1 altg Increase Decrease In Accounts Payable Accrued Expenses Customer Deposits And Other Current
IncreaseDecreaseInAccountsPayableAccruedExpensesCustomerDepositsAndOtherCurrent
-3800000
CY2022Q1 altg Increase Decrease In Leases Deferred Revenue And Other Liabilities
IncreaseDecreaseInLeasesDeferredRevenueAndOtherLiabilities
100000
CY2021Q1 altg Increase Decrease In Leases Deferred Revenue And Other Liabilities
IncreaseDecreaseInLeasesDeferredRevenueAndOtherLiabilities
500000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6700000
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
600000
CY2022Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
100000
CY2021Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
700000
CY2022Q1 altg Payments To Expenditures For Rental Equipment
PaymentsToExpendituresForRentalEquipment
15100000
CY2021Q1 altg Payments To Expenditures For Rental Equipment
PaymentsToExpendituresForRentalEquipment
6200000
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1800000
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1500000
CY2022Q1 altg Payments For Guaranteed Purchase Obligations
PaymentsForGuaranteedPurchaseObligations
600000
CY2021Q1 altg Payments For Guaranteed Purchase Obligations
PaymentsForGuaranteedPurchaseObligations
900000
CY2022Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1200000
CY2021Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1900000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-18600000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9800000
CY2022Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
86300000
CY2021Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
73500000
CY2022Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
70900000
CY2021Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
61700000
CY2022Q1 altg Proceeds From Floor Plans With Unaffiliated Source
ProceedsFromFloorPlansWithUnaffiliatedSource
30200000
CY2021Q1 altg Proceeds From Floor Plans With Unaffiliated Source
ProceedsFromFloorPlansWithUnaffiliatedSource
24200000
CY2022Q1 altg Payments Under Floor Plans With Unaffiliated Source
PaymentsUnderFloorPlansWithUnaffiliatedSource
19500000
CY2021Q1 altg Payments Under Floor Plans With Unaffiliated Source
PaymentsUnderFloorPlansWithUnaffiliatedSource
25300000
CY2022Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
800000
CY2021Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1900000
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
700000
CY2021Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
200000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
24600000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8600000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-700000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-600000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2300000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1200000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1600000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
600000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
1300000
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
5300000
CY2022Q1 us-gaap Nature Of Operations
NatureOfOperations
<p id="note_1_organization_nature_operations" style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.0829166666666667;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">NOTE 1 — ORGANIZATION A</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">ND NATURE OF OPERATIONS</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:8.0pt;line-height:1.0829166666666667;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Alta Equipment Group Inc. and its subsidiaries (“Alta” or the “Company”) is engaged in the retail sale, service, and rental of material handling and construction equipment in the states of Michigan, Illinois, Indiana, Ohio, New York (including New York City in our Material Handling segment), Virginia and Florida as well as the New England region (including Boston) of the United States.</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:8.0pt;line-height:1.0829166666666667;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Alta Equipment Holdings, Inc. is the holding company for Alta Enterprises, LLC. Alta Enterprises, LLC is the holding company for Alta Industrial Equipment Michigan; LLC; Alta Industrial Equipment Company, LLC; Alta Industrial Equipment New York, LLC; PeakLogix, LLC; Alta Material Handling New York State, LLC; Alta Construction Equipment, LLC; Alta Construction Equipment Illinois, LLC; Alta Heavy Equipment Services, LLC; NITCO, LLC; Alta Construction Equipment Florida, LLC; Alta Construction Equipment Ohio, LLC; Alta Construction Equipment New England, LLC; Alta Mine Services, LLC; Alta Construction Equipment New York, LLC; and Alta Electric Vehicles, LLC.</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:8.0pt;line-height:1.0829166666666667;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Alta Construction Equipment, LLC is the holding company for Alta Kubota Michigan, LLC which is the holding company of Ginop Sales, Inc.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:8.0pt;line-height:1.0829166666666667;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Alta Electric Vehicles, LLC is the holding company for Alta Electric Vehicles North East, LLC and Alta Electric Vehicles South West, LLC.</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:8.0pt;line-height:1.0829166666666667;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Unless the context otherwise requires, the use of the terms “the Company”, “we,” “us,” and “our” in these notes to the unaudited consolidated financial statements refers to Alta Equipment Group Inc. and its consolidated subsidiaries.</span></p>
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.0829166666666667;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:8.0pt;line-height:1.0829166666666667;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are based on assumptions that we believe are reasonable under the circumstances. Due to the inherent uncertainty involved with estimates, actual results may differ.</span></p>
CY2022Q1 altg Contract With Customer Assets
ContractWithCustomerAssets
5000000.0
CY2021Q1 altg Contract With Customer Assets
ContractWithCustomerAssets
6000000.0
CY2022Q1 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
2300000
CY2021Q1 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
3400000
CY2022Q1 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
331700000
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
268800000
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5300000
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4300000
CY2022Q1 altg Inventory New Equipment Gross
InventoryNewEquipmentGross
186700000
CY2021Q4 altg Inventory New Equipment Gross
InventoryNewEquipmentGross
146000000.0
CY2022Q1 altg Inventory Used Equipment Gross
InventoryUsedEquipmentGross
41300000
CY2021Q4 altg Inventory Used Equipment Gross
InventoryUsedEquipmentGross
34300000
CY2022Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
8600000
CY2022Q1 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P8Y3M18D
CY2022Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
50500000
CY2021Q4 altg Inventory Parts Gross
InventoryPartsGross
55700000
CY2022Q1 us-gaap Inventory Gross
InventoryGross
295500000
CY2021Q4 us-gaap Inventory Gross
InventoryGross
242700000
CY2022Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
4500000
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
3500000
CY2022Q1 us-gaap Inventory Net
InventoryNet
291000000.0
CY2021Q4 us-gaap Inventory Net
InventoryNet
239200000
CY2022Q1 altg Capitalized Direct Labor Expense Included In Work In Process
CapitalizedDirectLaborExpenseIncludedInWorkInProcess
2100000
CY2021Q4 altg Capitalized Direct Labor Expense Included In Work In Process
CapitalizedDirectLaborExpenseIncludedInWorkInProcess
1600000
CY2022Q1 altg Rental Depreciation Expense
RentalDepreciationExpense
1400000
CY2021Q1 altg Rental Depreciation Expense
RentalDepreciationExpense
2200000
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
517100000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
517600000
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
180100000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
173100000
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
337000000.0
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
344500000
CY2022Q1 altg Gpo Assets
GPOAssets
10700000
CY2021Q4 altg Gpo Assets
GPOAssets
9700000
CY2020Q4 us-gaap Goodwill
Goodwill
24300000
CY2021 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
19000000.0
CY2021 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
1400000
CY2021Q4 us-gaap Goodwill
Goodwill
41900000
CY2022Q1 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
-1600000
CY2022Q1 us-gaap Goodwill
Goodwill
43500000
CY2022Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8500000
CY2022Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
42000000.0
CY2021 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P8Y6M
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
50500000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7100000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
43400000
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1400000
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
700000
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
2600000
CY2022Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
319900000
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
319000000.0
CY2022Q1 us-gaap Debt Instrument Description
DebtInstrumentDescription
On April 1, 2021, the Company completed a private offering of Senior Secured Second Lien Notes (the “Notes”), for the purposes of, among other things, repayment and refinancing of a portion of the Company’s prior existing debt, reducing interest rate exposure and providing liquidity for financing of future growth initiatives.
CY2021Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-11900000
CY2021Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
200000
CY2022Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
200000
CY2021Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000
CY2022Q1 us-gaap Lease Cost
LeaseCost
9200000
CY2021Q1 us-gaap Lease Cost
LeaseCost
8000000.0
CY2022Q1 altg Debt Instrument High Yield Notes
DebtInstrumentHighYieldNotes
315000000.0
CY2021Q4 altg Debt Instrument High Yield Notes
DebtInstrumentHighYieldNotes
315000000.0
CY2022Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1000000.0
CY2021Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1000000.0
CY2022Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
3800000
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
4000000.0
CY2022Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
12400000
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
11600000
CY2022Q1 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
322600000
CY2021Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
321600000
CY2022Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
2700000
CY2022Q1 altg Finance Lease Assets Net Of Accumulated Depreciation
FinanceLeaseAssetsNetOfAccumulatedDepreciation
12100000
CY2021Q4 altg Finance Lease Assets Net Of Accumulated Depreciation
FinanceLeaseAssetsNetOfAccumulatedDepreciation
11300000
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
6000000.0
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
5800000
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1000000.0
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1700000
CY2021Q1 altg Low Value Lease Expense
LowValueLeaseExpense
200000
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
1200000
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
800000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
5800000
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
5600000
CY2022Q1 altg Operating Cash Flows For Financing Leases
OperatingCashFlowsForFinancingLeases
200000
CY2021Q1 altg Operating Cash Flows For Financing Leases
OperatingCashFlowsForFinancingLeases
100000
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
700000
CY2021Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
200000
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3800000
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5100000
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
1500000
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
4500000
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y3M18D
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y1M6D
CY2022Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M12D
CY2021Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y7M6D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.066
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.062
CY2022Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.056
CY2021Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.055
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
16900000
CY2022Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
2500000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
21200000
CY2022Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
3000000.0
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
19900000
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
2900000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
16900000
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
2700000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
14300000
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
2000000.0
CY2022Q1 altg Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
45200000
CY2022Q1 altg Finance Lease Liability Payments Due In Rolling After Year Four
FinanceLeaseLiabilityPaymentsDueInRollingAfterYearFour
900000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
134400000
CY2022Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
14000000.0
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
29700000
CY2022Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
1600000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
104700000
CY2021Q4 altg Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
116200000
CY2022Q1 altg Undiscounted Future Lease Payments Pertaining To Leases That Were Executed But Not Yet Commenced
UndiscountedFutureLeasePaymentsPertainingToLeasesThatWereExecutedButNotYetCommenced
4300000
CY2022Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
12400000
CY2022Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P10Y
CY2022Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
2700000
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
2600000
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
16400000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
16200000
CY2022Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
9700000
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
9000000.0
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
88300000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
88400000
CY2022Q1 altg Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
117100000
CY2022Q1 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
1600000
CY2021Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
1700000
CY2022Q1 altg Accrued Guarantees
AccruedGuarantees
0
CY2021Q4 altg Accrued Guarantees
AccruedGuarantees
0
CY2021Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
400000
CY2021Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
100000
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
500000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0.0
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
500000
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.088
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
42700000
CY2021 altg Percentage Of Future Taxable Income
PercentageOfFutureTaxableIncome
0.80
CY2022Q1 altg Deferred Employer Payroll Taxes Under Cares Act
DeferredEmployerPayrollTaxesUnderCARESAct
5000000.0
CY2021Q4 altg Deferred Employer Payroll Taxes Under Cares Act
DeferredEmployerPayrollTaxesUnderCARESAct
5000000.0
CY2020Q4 altg Depository Shares Liquidation Preference Value
DepositorySharesLiquidationPreferenceValue
2500
CY2020Q4 altg Depository Shares Liquidation Preference Per Share
DepositorySharesLiquidationPreferencePerShare
2.50
CY2022Q1 us-gaap Dividend Payment Restrictions Schedule Description
DividendPaymentRestrictionsScheduleDescription
Dividends are payable quarterly in arrears, on or about the last day of January, April, July and October, which began on or about April 30, 2021; provided that if any dividend payment date is not a business day, then the dividend which would otherwise have been payable on that dividend payment date may be paid on the next succeeding business day, and no interest, additional dividends or other sums will accumulate. Dividends will accumulate and be cumulative from, and including December 22, 2020, the date of original issuance.
CY2021Q2 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.89
CY2021Q3 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.625
CY2021Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.625
CY2022Q1 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.625
CY2022Q1 altg Business Combination Contingent Consideration Liability Maximum Limit
BusinessCombinationContingentConsiderationLiabilityMaximumLimit
1500000
CY2022Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
331700000
CY2022Q1 us-gaap Interest Expense
InterestExpense
6100000
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
24200000
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2000000.0
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
268800000
CY2021Q1 us-gaap Interest Expense
InterestExpense
5800000
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
21400000
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5700000
CY2022Q1 us-gaap Assets
Assets
1030600000
CY2021Q4 us-gaap Assets
Assets
982600000
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-2000000.0
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-5700000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32363376
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30018502
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.19
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-2000000.0
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-5700000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32363376
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30018502
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32363376
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30018502
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.19
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
223000
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
91000

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