$ALTG
ALTA EQUIPMENT GROUP INC.

2023 Q3 Form 10-Q Financial Statement

#000095017023040618 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $466.2M $468.4M $406.5M
YoY Change 15.11% 15.23% 38.88%
Cost Of Revenue $340.1M $341.6M $300.7M
YoY Change 15.92% 13.6% 39.34%
Gross Profit $126.1M $126.8M $105.8M
YoY Change 12.99% 19.85% 37.58%
Gross Profit Margin 27.05% 27.07% 26.03%
Selling, General & Admin $106.8M $105.2M $88.80M
YoY Change 13.38% 18.47% 24.02%
% of Gross Profit 84.69% 82.97% 83.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $35.00M $33.00M $27.30M
YoY Change 18.24% 20.88% 16.67%
% of Gross Profit 27.76% 26.03% 25.8%
Operating Expenses $112.2M $110.6M $92.80M
YoY Change 14.61% 19.18% 25.92%
Operating Profit $13.90M $16.20M $13.00M
YoY Change 1.46% 24.62% 306.25%
Interest Expense $15.20M $13.70M -$6.800M
YoY Change 78.82% -301.47% -215.25%
% of Operating Profit 109.35% 84.57% -52.31%
Other Income/Expense, Net -$13.80M -$13.50M $400.0K
YoY Change 66.27% -3475.0% -102.25%
Pretax Income $100.0K $2.700M $6.600M
YoY Change -98.15% -59.09% -145.21%
Income Tax -$7.300M $300.0K $500.0K
% Of Pretax Income -7300.0% 11.11% 7.58%
Net Earnings $7.400M $2.400M $6.100M
YoY Change 45.1% -60.66% -141.78%
Net Earnings / Revenue 1.59% 0.51% 1.5%
Basic Earnings Per Share $0.21 $0.05 $0.17
Diluted Earnings Per Share $0.20 $0.05 $189.7K
COMMON SHARES
Basic Shares Outstanding 32.37M 32.37M 32.45M
Diluted Shares Outstanding 32.73M 32.73M 32.15M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.400M $2.300M $500.0K
YoY Change -33.33% 360.0% -72.22%
Cash & Equivalents $1.400M $2.300M $500.0K
Short-Term Investments
Other Short-Term Assets $31.00M $32.50M $30.40M
YoY Change 11.11% 6.91% 39.45%
Inventory $492.8M $498.0M $296.6M
Prepaid Expenses
Receivables $259.1M $226.7M $211.2M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $784.3M $759.5M $538.7M
YoY Change 34.78% 40.99% 33.54%
LONG-TERM ASSETS
Property, Plant & Equipment $447.6M $425.9M $444.9M
YoY Change 21.86% -4.27% 36.06%
Goodwill $71.10M $70.40M
YoY Change 32.16%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $17.00M $9.200M $3.000M
YoY Change 553.85% 206.67% 130.77%
Total Long-Term Assets $696.1M $670.7M $532.4M
YoY Change 24.15% 25.98% 40.22%
TOTAL ASSETS
Total Short-Term Assets $784.3M $759.5M $538.7M
Total Long-Term Assets $696.1M $670.7M $532.4M
Total Assets $1.480B $1.430B $1.071B
YoY Change 29.56% 33.53% 36.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $89.60M $79.10M $77.40M
YoY Change 4.07% 2.2% 14.67%
Accrued Expenses $53.40M $51.50M $57.60M
YoY Change 0.56% -10.59% 67.44%
Deferred Revenue
YoY Change
Short-Term Debt $364.5M $348.0M $322.2M
YoY Change 73.41% 8.01% 70.57%
Long-Term Debt Due $6.600M $5.500M $3.100M
YoY Change 83.33% 77.42%
Total Short-Term Liabilities $569.8M $541.3M $506.6M
YoY Change 37.24% 6.85% 58.21%
LONG-TERM LIABILITIES
Long-Term Debt $312.0M $311.6M $322.3M
YoY Change 0.39% -3.32% 4.2%
Other Long-Term Liabilities $11.40M $12.30M $96.10M
YoY Change 500.0% -87.2% 933.33%
Total Long-Term Liabilities $323.4M $323.9M $418.4M
YoY Change 3.42% -22.59% 31.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $569.8M $541.3M $506.6M
Total Long-Term Liabilities $323.4M $323.9M $418.4M
Total Liabilities $1.333B $1.289B $931.9M
YoY Change 33.04% 38.3% 44.01%
SHAREHOLDERS EQUITY
Retained Earnings -$71.80M -$76.50M
YoY Change 1.41%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.900M $5.900M
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $147.5M $141.4M $139.2M
YoY Change
Total Liabilities & Shareholders Equity $1.480B $1.430B $1.071B
YoY Change 29.56% 33.53% 36.78%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $7.400M $2.400M $6.100M
YoY Change 45.1% -60.66% -141.78%
Depreciation, Depletion And Amortization $35.00M $33.00M $27.30M
YoY Change 18.24% 20.88% 16.67%
Cash From Operating Activities $14.40M -$13.70M $10.10M
YoY Change -3.36% -235.64% 13.48%
INVESTING ACTIVITIES
Capital Expenditures $19.90M $22.20M -$18.70M
YoY Change -287.74% -218.72% 1.63%
Acquisitions
YoY Change
Other Investing Activities -$100.0K $500.0K -$100.0K
YoY Change -99.73% -600.0% -66.67%
Cash From Investing Activities -$20.00M -$21.70M -$18.80M
YoY Change -58.59% 15.43% 0.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.100M 36.20M 7.600M
YoY Change -88.32% 376.32% -30.91%
NET CHANGE
Cash From Operating Activities 14.40M -13.70M 10.10M
Cash From Investing Activities -20.00M -21.70M -18.80M
Cash From Financing Activities 4.100M 36.20M 7.600M
Net Change In Cash -1.500M 800.0K -1.100M
YoY Change -188.24% -172.73% -191.67%
FREE CASH FLOW
Cash From Operating Activities $14.40M -$13.70M $10.10M
Capital Expenditures $19.90M $22.20M -$18.70M
Free Cash Flow -$5.500M -$35.90M $28.80M
YoY Change -121.57% -224.65% 5.49%

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WeightedAverageNumberOfSharesOutstandingBasic
31933032
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32296067
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32147015
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32731422
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32151512
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32581469
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32367810
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
2400000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
6100000
us-gaap Net Income Loss
NetIncomeLoss
3400000
us-gaap Net Income Loss
NetIncomeLoss
4900000
CY2023Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
700000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
800000
CY2023Q2 us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease After Adjustments And Tax
OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsAndTax
1600000
us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease After Adjustments And Tax
OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsAndTax
1200000
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2300000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2000000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
4700000
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
6100000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5400000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
4900000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
139800000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
1000000
CY2023Q1 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
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CY2023Q1 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
800000
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.057
CY2023Q1 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
1900000
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
800000
CY2023Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
100000
CY2023Q1 us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease After Adjustments And Tax
OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsAndTax
-400000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
138100000
CY2023Q2 us-gaap Profit Loss
ProfitLoss
2400000
CY2023Q2 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.625
CY2023Q2 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
700000
CY2023Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.057
CY2023Q2 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
1800000
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1100000
CY2023Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
700000
CY2023Q2 us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease After Adjustments And Tax
OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsAndTax
1600000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
141400000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
134700000
CY2022Q1 us-gaap Profit Loss
ProfitLoss
-1200000
CY2022Q1 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.625
CY2022Q1 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
800000
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
300000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
133000000
CY2022Q2 us-gaap Profit Loss
ProfitLoss
6100000
CY2022Q2 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.625
CY2022Q2 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
700000
CY2022Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
800000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
139200000
us-gaap Profit Loss
ProfitLoss
3400000
us-gaap Profit Loss
ProfitLoss
4900000
altg Depreciation And Amortization Excluding Amortization Of Debt Discount And Issuance Cost
DepreciationAndAmortizationExcludingAmortizationOfDebtDiscountAndIssuanceCost
61100000
altg Depreciation And Amortization Excluding Amortization Of Debt Discount And Issuance Cost
DepreciationAndAmortizationExcludingAmortizationOfDebtDiscountAndIssuanceCost
51500000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
800000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
700000
altg Imputed Interest
ImputedInterest
500000
altg Imputed Interest
ImputedInterest
100000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-300000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
100000
altg Gain Loss On Sale Of Rental Equipment
GainLossOnSaleOfRentalEquipment
16700000
altg Gain Loss On Sale Of Rental Equipment
GainLossOnSaleOfRentalEquipment
14600000
altg Provision For Inventory Obsolescence
ProvisionForInventoryObsolescence
1200000
altg Provision For Inventory Obsolescence
ProvisionForInventoryObsolescence
1900000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3400000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2400000
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-500000
us-gaap Share Based Compensation
ShareBasedCompensation
1900000
us-gaap Share Based Compensation
ShareBasedCompensation
1100000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1500000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
30700000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
200600000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
131700000
altg Proceeds From Sale Of Rental Equipment
ProceedsFromSaleOfRentalEquipment
62200000
altg Proceeds From Sale Of Rental Equipment
ProceedsFromSaleOfRentalEquipment
76400000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
7600000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
7300000
altg Increase Decrease In Manufacturers Floor Plans Payable
IncreaseDecreaseInManufacturersFloorPlansPayable
-86100000
altg Increase Decrease In Manufacturers Floor Plans Payable
IncreaseDecreaseInManufacturersFloorPlansPayable
-31700000
altg Increase Decrease In Accounts Payable Accrued Expenses Customer Deposits And Other Current
IncreaseDecreaseInAccountsPayableAccruedExpensesCustomerDepositsAndOtherCurrent
-27700000
altg Increase Decrease In Accounts Payable Accrued Expenses Customer Deposits And Other Current
IncreaseDecreaseInAccountsPayableAccruedExpensesCustomerDepositsAndOtherCurrent
16700000
altg Increase Decrease In Leases Deferred Revenue And Other Liabilities
IncreaseDecreaseInLeasesDeferredRevenueAndOtherLiabilities
-4100000
altg Increase Decrease In Leases Deferred Revenue And Other Liabilities
IncreaseDecreaseInLeasesDeferredRevenueAndOtherLiabilities
400000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-33800000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3400000
altg Payments To Expenditures For Rental Equipment
PaymentsToExpendituresForRentalEquipment
32300000
altg Payments To Expenditures For Rental Equipment
PaymentsToExpendituresForRentalEquipment
30300000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6100000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4200000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
700000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
300000
altg Payments For Guaranteed Purchase Obligations
PaymentsForGuaranteedPurchaseObligations
1500000
altg Payments For Guaranteed Purchase Obligations
PaymentsForGuaranteedPurchaseObligations
1700000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1400000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1500000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-40600000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-37400000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
203500000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
166700000
altg Principal Payments On Lines Of Credit Long Term Debt And Finance Lease Obligations
PrincipalPaymentsOnLinesOfCreditLongTermDebtAndFinanceLeaseObligations
133500000
altg Principal Payments On Lines Of Credit Long Term Debt And Finance Lease Obligations
PrincipalPaymentsOnLinesOfCreditLongTermDebtAndFinanceLeaseObligations
143400000
altg Proceeds From Non Manufacturer Floor Plan Payable
ProceedsFromNonManufacturerFloorPlanPayable
103500000
altg Proceeds From Non Manufacturer Floor Plan Payable
ProceedsFromNonManufacturerFloorPlanPayable
64600000
altg Payments On Non Manufacturer Floor Plan Payable
PaymentsOnNonManufacturerFloorPlanPayable
98500000
altg Payments On Non Manufacturer Floor Plan Payable
PaymentsOnNonManufacturerFloorPlanPayable
52500000
us-gaap Payments Of Dividends
PaymentsOfDividends
1500000
us-gaap Payments Of Dividends
PaymentsOfDividends
1500000
altg Common Stock Dividends Paid And Declared
CommonStockDividendsPaidAndDeclared
3700000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
4300000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1700000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
74100000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
32200000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-100000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-400000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1800000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2700000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2300000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2300000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
500000
altg Net Transfer Of Assets From Inventory To Rental Fleet Within Property And Equipment
NetTransferOfAssetsFromInventoryToRentalFleetWithinPropertyAndEquipment
96400000
altg Net Transfer Of Assets From Inventory To Rental Fleet Within Property And Equipment
NetTransferOfAssetsFromInventoryToRentalFleetWithinPropertyAndEquipment
69900000
us-gaap Interest Paid Net
InterestPaidNet
24100000
us-gaap Interest Paid Net
InterestPaidNet
11900000
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;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:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">ND NATURE OF OPERATIONS</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Nature of Operations</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:8.0pt;font-family:Times New Roman;margin-bottom:8.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Alta Equipment Group Inc. and its subsidiaries (“Alta” or the “Company”) are engaged in the sale, service, and rental of material handling, construction, and environmental processing equipment in the states of Michigan, Illinois, Indiana, Ohio, New York (including New York City in our Material Handling segment), Virginia, Massachusetts, Maine, New Hampshire, Vermont, Connecticut, Rhode Island, Nevada, and Florida as well as the Canadian provinces of Quebec and Ontario. Unless the context otherwise requires, the use of the terms “the Company”, “we”, “us,” and “our” in these notes to the condensed consolidated financial statements refers to Alta Equipment Group Inc. and its consolidated subsidiaries.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Basis of Presentation</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:8.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The accompanying unaudited interim condensed consolidated financial statements include the consolidated accounts of the Company and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All intercompany transactions and balances have been eliminated in the preparation of the condensed consolidated financial statements.</span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:8.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are based on assumptions that we believe are reasonable under the circumstances. Due to the inherent uncertainty involved with estimates, actual results may differ.</span></p>
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
468400000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
406500000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
889100000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
738200000
CY2023Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5700000
CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5300000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
12000000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
10600000
CY2023Q2 altg Contract With Customer Assets
ContractWithCustomerAssets
5800000
CY2022Q4 altg Contract With Customer Assets
ContractWithCustomerAssets
3600000
CY2023Q2 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
3800000
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
11300000
CY2022Q2 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
8200000
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
10500000
CY2023Q2 altg Inventory New Equipment Gross
InventoryNewEquipmentGross
330900000
CY2022Q4 altg Inventory New Equipment Gross
InventoryNewEquipmentGross
258500000
CY2023Q2 altg Inventory Used Equipment Gross
InventoryUsedEquipmentGross
74500000
CY2022Q4 altg Inventory Used Equipment Gross
InventoryUsedEquipmentGross
59000000.0
CY2023Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
10600000
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
8600000
CY2023Q2 altg Inventory Parts Gross
InventoryPartsGross
88700000
CY2022Q4 altg Inventory Parts Gross
InventoryPartsGross
78800000
CY2023Q2 us-gaap Inventory Gross
InventoryGross
504700000
CY2022Q4 us-gaap Inventory Gross
InventoryGross
404900000
CY2023Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
6700000
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
5200000
CY2023Q2 us-gaap Inventory Net
InventoryNet
498000000
CY2022Q4 us-gaap Inventory Net
InventoryNet
399700000
CY2023Q2 altg Capitalized Direct Labor Expense Included In Work In Process
CapitalizedDirectLaborExpenseIncludedInWorkInProcess
2200000
CY2022Q4 altg Capitalized Direct Labor Expense Included In Work In Process
CapitalizedDirectLaborExpenseIncludedInWorkInProcess
1800000
CY2023Q2 altg Rental Depreciation Expense
RentalDepreciationExpense
3100000
CY2022Q2 altg Rental Depreciation Expense
RentalDepreciationExpense
1700000
altg Rental Depreciation Expense
RentalDepreciationExpense
5600000
altg Rental Depreciation Expense
RentalDepreciationExpense
3100000
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
655900000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
596300000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
230000000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
218500000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
425900000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
377800000
CY2023Q2 altg Finance Lease Assets Gross
FinanceLeaseAssetsGross
33200000
CY2022Q4 altg Finance Lease Assets Gross
FinanceLeaseAssetsGross
24400000
CY2023Q2 altg Finance Leases Lessee Balance Sheet Assets By Major Class Accumulated Amortization
FinanceLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedAmortization
7400000
CY2022Q4 altg Finance Leases Lessee Balance Sheet Assets By Major Class Accumulated Amortization
FinanceLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedAmortization
5400000
CY2023Q2 altg Gpo Assets
GPOAssets
10300000
CY2022Q4 altg Gpo Assets
GPOAssets
11800000
CY2022Q4 us-gaap Goodwill
Goodwill
69200000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
1100000
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
-100000
CY2023Q2 us-gaap Goodwill
Goodwill
70400000
CY2023Q2 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P7Y2M12D
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
73700000
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
17400000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
56300000
CY2022Q4 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P7Y8M12D
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
73700000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
13000000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
60700000
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2200000
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1600000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4400000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3000000
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.
CY2023Q2 us-gaap Line Of Credit
LineOfCredit
292400000
CY2022Q4 us-gaap Line Of Credit
LineOfCredit
219500000
CY2023Q2 us-gaap Secured Long Term Debt
SecuredLongTermDebt
315000000
CY2022Q4 us-gaap Secured Long Term Debt
SecuredLongTermDebt
315000000
CY2023Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2800000
CY2022Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2800000
CY2023Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2700000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
3000000
CY2023Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
26600000
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
19600000
CY2023Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
628500000
CY2022Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
548300000
CY2023Q2 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
5500000
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
4200000
CY2023Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
623000000
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
544100000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2900000
CY2023Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-300000
CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-3200000
CY2023Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
2300000
CY2023Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-900000
CY2023Q2 altg Finance Lease Assets Net Of Accumulated Depreciation
FinanceLeaseAssetsNetOfAccumulatedDepreciation
25800000
CY2022Q4 altg Finance Lease Assets Net Of Accumulated Depreciation
FinanceLeaseAssetsNetOfAccumulatedDepreciation
19000000
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
6500000
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
6300000
us-gaap Operating Lease Cost
OperatingLeaseCost
13400000
us-gaap Operating Lease Cost
OperatingLeaseCost
12300000
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1200000
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
700000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
2900000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
1700000
CY2023Q2 altg Low Value Lease Expense
LowValueLeaseExpense
200000
CY2022Q2 altg Low Value Lease Expense
LowValueLeaseExpense
100000
altg Low Value Lease Expense
LowValueLeaseExpense
500000
altg Low Value Lease Expense
LowValueLeaseExpense
100000
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
2100000
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
1500000
us-gaap Variable Lease Cost
VariableLeaseCost
4200000
us-gaap Variable Lease Cost
VariableLeaseCost
2700000
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1400000
CY2022Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
900000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
2700000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1700000
CY2023Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
600000
CY2022Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
200000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1100000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
400000
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
100000
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
100000
us-gaap Sublease Income
SubleaseIncome
100000
us-gaap Sublease Income
SubleaseIncome
100000
CY2023Q2 us-gaap Lease Cost
LeaseCost
11900000
CY2022Q2 us-gaap Lease Cost
LeaseCost
9600000
us-gaap Lease Cost
LeaseCost
24700000
us-gaap Lease Cost
LeaseCost
18800000
us-gaap Operating Lease Payments
OperatingLeasePayments
12900000
us-gaap Operating Lease Payments
OperatingLeasePayments
11800000
altg Operating Cash Flows For Financing Leases
OperatingCashFlowsForFinancingLeases
1100000
altg Operating Cash Flows For Financing Leases
OperatingCashFlowsForFinancingLeases
400000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2400000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1600000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3400000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4700000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
9700000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
5000000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y1M6D
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y1M6D
CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y7M6D
CY2022Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y9M18D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.102
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.066
CY2023Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.081
CY2022Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.06
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
12600000
CY2023Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
3700000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
23800000
CY2023Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
7200000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
20400000
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
7000000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
17200000
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
6200000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
15900000
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
4500000
CY2023Q2 altg Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
89200000
CY2023Q2 altg Finance Lease Liability Payments Due In Rolling After Year Four
FinanceLeaseLiabilityPaymentsDueInRollingAfterYearFour
3100000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
179100000
CY2023Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
31700000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
66200000
CY2023Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
5100000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
112900000
CY2023Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
26600000
CY2023Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
5500000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
4200000
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
15300000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
14800000
CY2023Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
21100000
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
15400000
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
97600000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
101900000
CY2023Q2 altg Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
139500000
CY2022Q4 altg Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
136300000
CY2023Q2 altg Undiscounted Future Lease Payments Pertaining To Leases That Were Executed But Not Yet Commenced
UndiscountedFutureLeasePaymentsPertainingToLeasesThatWereExecutedButNotYetCommenced
3100000
CY2023Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P10Y
CY2023Q2 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
1300000
CY2022Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
1500000
CY2023Q2 altg Accrued Guarantees
AccruedGuarantees
0
CY2022Q4 altg Accrued Guarantees
AccruedGuarantees
0
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
500000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
500000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.105
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.093
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
468400000
CY2023Q2 us-gaap Interest Expense
InterestExpense
13700000
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
33000000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2700000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
889100000
us-gaap Interest Expense
InterestExpense
25700000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
61100000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3800000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
406500000
CY2022Q2 us-gaap Interest Expense
InterestExpense
6800000
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
27300000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
6600000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
738200000
us-gaap Interest Expense
InterestExpense
12900000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
51500000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5400000
CY2023Q2 us-gaap Assets
Assets
1430200000
CY2022Q4 us-gaap Assets
Assets
1290600000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1700000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
5400000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1900000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
3400000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32368112
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31933032
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32296067
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32147015
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.17
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.11
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1700000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
5400000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1900000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
3400000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32368112
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31933032
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32296067
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32147015
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
363310
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
218480
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
285402
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
220795
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32731422
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32151512
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32581469
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32367810
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
ecd Trd Arr Adoption Date
TrdArrAdoptionDate
May 15, 2023
ecd Trd Arr Ind Name
TrdArrIndName
Craig Brubaker
ecd Trd Arr Ind Title
TrdArrIndTitle
Chief Operating Officer
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
true
CY2023Q2 ecd Trd Arr Securities Agg Avail Amt
TrdArrSecuritiesAggAvailAmt
43525

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