2019 Q2 Form 10-Q Financial Statement
#000156459020039998 Filed on August 13, 2020
Income Statement
| Concept | 2019 Q2 | 2019 Q1 |
|---|---|---|
| Revenue | $135.9M | $102.3M |
| YoY Change | ||
| Cost Of Revenue | $97.30M | $74.80M |
| YoY Change | ||
| Gross Profit | $38.60M | $27.50M |
| YoY Change | ||
| Gross Profit Margin | 28.4% | 26.88% |
| Selling, General & Admin | $32.80M | $0.00 |
| YoY Change | ||
| % of Gross Profit | 84.97% | 0.0% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $11.40M | $9.100M |
| YoY Change | ||
| % of Gross Profit | 29.53% | 33.09% |
| Operating Expenses | $33.50M | $25.90M |
| YoY Change | ||
| Operating Profit | $5.100M | $1.600M |
| YoY Change | ||
| Interest Expense | $5.000M | $4.500M |
| YoY Change | ||
| % of Operating Profit | 98.04% | 281.25% |
| Other Income/Expense, Net | -$4.700M | -$4.200M |
| YoY Change | ||
| Pretax Income | $400.0K | -$2.600M |
| YoY Change | ||
| Income Tax | $0.00 | $0.00 |
| % Of Pretax Income | 0.0% | |
| Net Earnings | $400.0K | -$2.600M |
| YoY Change | ||
| Net Earnings / Revenue | 0.29% | -2.54% |
| Basic Earnings Per Share | ||
| Diluted Earnings Per Share | $54.79K | $0.00 |
| COMMON SHARES | ||
| Basic Shares Outstanding | ||
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2019 Q2 | 2019 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $1.000M | $0.00 |
| YoY Change | ||
| Cash & Equivalents | $600.0K | |
| Short-Term Investments | ||
| Other Short-Term Assets | $200.0K | |
| YoY Change | ||
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | ||
| Other Receivables | ||
| Total Short-Term Assets | $1.200M | $0.00 |
| YoY Change | ||
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | ||
| YoY Change | ||
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $144.6M | |
| YoY Change | ||
| Other Assets | $0.00 | $400.0K |
| YoY Change | ||
| Total Long-Term Assets | $144.6M | $400.0K |
| YoY Change | ||
| TOTAL ASSETS | ||
| Total Short-Term Assets | $1.200M | $0.00 |
| Total Long-Term Assets | $144.6M | $400.0K |
| Total Assets | $145.8M | $400.0K |
| YoY Change | ||
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $100.0K | $300.0K |
| YoY Change | ||
| Accrued Expenses | ||
| YoY Change | ||
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $100.0K |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $300.0K | $400.0K |
| YoY Change | ||
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | ||
| YoY Change | ||
| Total Long-Term Liabilities | $0.00 | $0.00 |
| YoY Change | ||
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $300.0K | $400.0K |
| Total Long-Term Liabilities | $0.00 | $0.00 |
| Total Liabilities | $300.0K | $400.0K |
| YoY Change | ||
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $10.00M | $9.600M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $145.8M | $400.0K |
| YoY Change |
Cashflow Statement
| Concept | 2019 Q2 | 2019 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $400.0K | -$2.600M |
| YoY Change | ||
| Depreciation, Depletion And Amortization | $11.40M | $9.100M |
| YoY Change | ||
| Cash From Operating Activities | -$190.0K | $3.400M |
| YoY Change | ||
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $500.0K | |
| YoY Change | ||
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$143.8M | |
| YoY Change | ||
| Cash From Investing Activities | -$143.8M | -$6.900M |
| YoY Change | ||
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | $2.000M | |
| YoY Change | ||
| Cash From Financing Activities | 144.9M | 2.600M |
| YoY Change | ||
| NET CHANGE | ||
| Cash From Operating Activities | -190.0K | 3.400M |
| Cash From Investing Activities | -143.8M | -6.900M |
| Cash From Financing Activities | 144.9M | 2.600M |
| Net Change In Cash | 980.0K | -900.0K |
| YoY Change | ||
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$190.0K | $3.400M |
| Capital Expenditures | $500.0K | |
| Free Cash Flow | $2.900M | |
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
87100000 | ||
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1500000 | ||
| us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-7600000 | ||
| CY2020Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
| CY2020Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | |
| CY2020Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
| CY2020Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
| CY2020Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
| CY2019Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
| CY2020Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
29511359 | |
| CY2019Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
7300000 | |
| CY2020Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
29511359 | |
| CY2019Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
7300000 | |
| CY2020Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
192100000 | |
| CY2019Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
135900000 | |
| CY2020Q2 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
145800000 | |
| CY2019Q2 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
97300000 | |
| CY2020Q2 | us-gaap |
Gross Profit
GrossProfit
|
46300000 | |
| CY2019Q2 | us-gaap |
Gross Profit
GrossProfit
|
38600000 | |
| CY2020Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
43700000 | |
| CY2019Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
32800000 | |
| CY2020Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
1700000 | |
| CY2019Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
700000 | |
| CY2020Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
45400000 | |
| CY2019Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
33500000 | |
| CY2020Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
900000 | |
| CY2019Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
5100000 | |
| CY2020Q2 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
300000 | |
| CY2019Q2 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
800000 | |
| CY2020Q2 | us-gaap |
Interest Expense Other
InterestExpenseOther
|
5400000 | |
| CY2019Q2 | us-gaap |
Interest Expense Other
InterestExpenseOther
|
4200000 | |
| CY2020Q2 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
300000 | |
| CY2019Q2 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
300000 | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-2200000 | ||
| CY2020Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.14 | |
| CY2019Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.05 | |
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.88 | ||
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.31 | ||
| CY2020Q2 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
29039177 | |
| CY2019Q2 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
7300000 | |
| us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
2100000 | ||
| us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
800000 | ||
| altg |
Repayment Accrual Of Paid In Kind Interest
RepaymentAccrualOfPaidInKindInterest
|
-11200000 | ||
| CY2020Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-5400000 | |
| CY2019Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-4700000 | |
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-18500000 | ||
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-8900000 | ||
| CY2020Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-4500000 | |
| CY2019Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
400000 | |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-22600000 | ||
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-2200000 | ||
| CY2020Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-400000 | |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-1500000 | ||
| CY2020Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-4100000 | |
| CY2019Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
400000 | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-21100000 | ||
| us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
23903579 | ||
| us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
7300000 | ||
| CY2020Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
128800000 | |
| CY2020Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-4100000 | |
| CY2020Q2 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
12100000 | |
| CY2020Q2 | altg |
Adjustment To Additional Paid In Capital Of Disgorgement On Short Swing Profit
AdjustmentToAdditionalPaidInCapitalOfDisgorgementOnShortSwingProfit
|
1600000 | |
| CY2019Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
9600000 | |
| CY2019Q2 | us-gaap |
Profit Loss
ProfitLoss
|
400000 | |
| CY2019Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
10000000 | |
| us-gaap |
Profit Loss
ProfitLoss
|
-21100000 | ||
| us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
19000000 | ||
| altg |
Equity Infusion From Reverse Recapitalization Net Of Transaction Costs
EquityInfusionFromReverseRecapitalizationNetOfTransactionCosts
|
175700000 | ||
| us-gaap |
Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
|
3100000 | ||
| altg |
Adjustment To Additional Paid In Capital Of Disgorgement On Short Swing Profit
AdjustmentToAdditionalPaidInCapitalOfDisgorgementOnShortSwingProfit
|
1600000 | ||
| us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
2900000 | ||
| CY2018Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
12200000 | |
| us-gaap |
Profit Loss
ProfitLoss
|
-2200000 | ||
| altg |
Depreciation And Amortization Excluding Amortization Of Debt Discount And Issuance Cost
DepreciationAndAmortizationExcludingAmortizationOfDebtDiscountAndIssuanceCost
|
30600000 | ||
| altg |
Depreciation And Amortization Excluding Amortization Of Debt Discount And Issuance Cost
DepreciationAndAmortizationExcludingAmortizationOfDebtDiscountAndIssuanceCost
|
20500000 | ||
| us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
600000 | ||
| us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
400000 | ||
| us-gaap |
Inventory Write Down
InventoryWriteDown
|
900000 | ||
| us-gaap |
Inventory Write Down
InventoryWriteDown
|
900000 | ||
| us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
100000 | ||
| altg |
Gain Loss On Sale Of Rental Equipment
GainLossOnSaleOfRentalEquipment
|
4100000 | ||
| altg |
Gain Loss On Sale Of Rental Equipment
GainLossOnSaleOfRentalEquipment
|
2300000 | ||
| altg |
Repayment Accrual Of Paid In Kind Interest
RepaymentAccrualOfPaidInKindInterest
|
2900000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3100000 | ||
| us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-1500000 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-3200000 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
8200000 | ||
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
80500000 | ||
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
36700000 | ||
| altg |
Proceeds From Sale Of Rental Equipment
ProceedsFromSaleOfRentalEquipment
|
28700000 | ||
| altg |
Proceeds From Sale Of Rental Equipment
ProceedsFromSaleOfRentalEquipment
|
16100000 | ||
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
1200000 | ||
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
1600000 | ||
| altg |
Proceeds From Floor Plans With Manufacturers
ProceedsFromFloorPlansWithManufacturers
|
176700000 | ||
| altg |
Proceeds From Floor Plans With Manufacturers
ProceedsFromFloorPlansWithManufacturers
|
127700000 | ||
| altg |
Payments Under Floor Plans With Manufacturers
PaymentsUnderFloorPlansWithManufacturers
|
192000000 | ||
| altg |
Payments Under Floor Plans With Manufacturers
PaymentsUnderFloorPlansWithManufacturers
|
133600000 | ||
| altg |
Increase Decrease In Accounts Payable Accrued Expenses Customer Deposits And Other Current
IncreaseDecreaseInAccountsPayableAccruedExpensesCustomerDepositsAndOtherCurrent
|
3400000 | ||
| altg |
Increase Decrease In Accounts Payable Accrued Expenses Customer Deposits And Other Current
IncreaseDecreaseInAccountsPayableAccruedExpensesCustomerDepositsAndOtherCurrent
|
8300000 | ||
| altg |
Increase Decrease In Leases And Other Liabilities
IncreaseDecreaseInLeasesAndOtherLiabilities
|
700000 | ||
| altg |
Increase Decrease In Leases And Other Liabilities
IncreaseDecreaseInLeasesAndOtherLiabilities
|
-700000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-54100000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-7700000 | ||
| us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
100000 | ||
| altg |
Payments To Expenditures For Rental Equipment
PaymentsToExpendituresForRentalEquipment
|
23300000 | ||
| altg |
Payments To Expenditures For Rental Equipment
PaymentsToExpendituresForRentalEquipment
|
14000000 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2200000 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1200000 | ||
| us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
98000000 | ||
| us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
65700000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-123400000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-80900000 | ||
| us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
2700000 | ||
| altg |
Extinguishment Of Floor Plans And Line Of Credit
ExtinguishmentOfFloorPlansAndLineOfCredit
|
132900000 | ||
| us-gaap |
Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
|
82000000 | ||
| us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
6700000 | ||
| altg |
Extinguishment Of Warrant Liability
ExtinguishmentOfWarrantLiability
|
29600000 | ||
| us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
270700000 | ||
| us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
88600000 | ||
| us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
152900000 | ||
| us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
38300000 | ||
| altg |
Proceeds From Floor Plans With Unaffiliated Source
ProceedsFromFloorPlansWithUnaffiliatedSource
|
46000000 | ||
| altg |
Proceeds From Floor Plans With Unaffiliated Source
ProceedsFromFloorPlansWithUnaffiliatedSource
|
52500000 | ||
| altg |
Payments Under Floor Plans With Unaffiliated Source
PaymentsUnderFloorPlansWithUnaffiliatedSource
|
46700000 | ||
| altg |
Payments Under Floor Plans With Unaffiliated Source
PaymentsUnderFloorPlansWithUnaffiliatedSource
|
27400000 | ||
| us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
149400000 | ||
| us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
15200000 | ||
| us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
2700000 | ||
| us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
3500000 | ||
| us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
400000 | ||
| altg |
Equity Proceeds From Reverse Recapitalization
EquityProceedsFromReverseRecapitalization
|
-175700000 | ||
| altg |
Proceeds From Disgorgement Of Short Swing Profits
ProceedsFromDisgorgementOfShortSwingProfits
|
1600000 | ||
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
2900000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
183900000 | ||
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
6400000 | ||
| CY2018Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1500000 | |
| CY2020Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
6400000 | |
| us-gaap |
Interest Paid Net
InterestPaidNet
|
20700000 | ||
| us-gaap |
Interest Paid Net
InterestPaidNet
|
6200000 | ||
| us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><a name="NOTE_1_ORGANIZATION_NATURE_OPERATIONS"></a><a name="NOTES_TO_UNAUDITED_CONSOLIDATED_FS"></a><a name="NOTE_1_ORGANIZATION_NATURE_OPERATIONS"></a>NOTE 1 — ORGANIZATION A<a name="NOTES_TO_UNAUDITED_CONSOLIDATED_FS"></a>ND NATURE OF OPERATIONS</p> <p style="text-align:justify;margin-top:8pt;margin-bottom:0pt;text-indent:4.46%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Alta Equipment Group, Inc. (formerly known as B. Riley Principal Merger Corp.) (individually or as sometimes collectively together with its direct and indirect subsidiaries referred to herein as the “Company”), was incorporated in Delaware on October 30, 2018 as a blank check company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities.  On February 14, 2020, the Company consummated a reverse recapitalization pursuant to which the Company acquired Alta Equipment Holdings, Inc. pursuant to an agreement and plan of merger between the Company, BR Canyon Merger Sub Corp., a Delaware corporation and wholly-owned subsidiary of the Company (“Merger Sub”), Alta Equipment Holdings, Inc. and Ryan Greenawalt.  This business merger will be referred to as “reverse recapitalization” throughout this document.</p> <p style="text-align:justify;margin-top:8pt;margin-bottom:0pt;text-indent:4.46%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In connection with the reverse recapitalization, Merger Sub merged with and into Alta Equipment Holdings, Inc., with Alta Equipment Holdings, Inc. surviving the reverse recapitalization as a direct, wholly owned subsidiary of the Company, and the Company changed its name from B. Riley Principal Merger Corp. to Alta Equipment Group, Inc. </p> <p style="text-align:justify;margin-top:8pt;margin-bottom:0pt;text-indent:4.46%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company and Alta Equipment Holdings, Inc. are the holding companies 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; Alta Construction Equipment, LLC; Alta Construction Equipment Illinois, LLC; Alta Heavy Equipment Services, LLC; NITCO, LLC; Alta Construction Equipment Florida, LLC, and PeakLogix, LLC.</p> <p style="text-align:justify;margin-top:8pt;margin-bottom:0pt;text-indent:4.46%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is engaged in the retail sale, service, and rental of lift trucks and construction equipment in the states of Michigan, Illinois, Indiana, Virginia and Florida as well as the Northeastern part of the United States.</p> <p style="text-align:justify;margin-top:8pt;margin-bottom:0pt;text-indent:4.46%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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.</p> | ||
| CY2020Q2 | altg |
Inventory Parts Gross
InventoryPartsGross
|
33000000 | |
| CY2019Q4 | altg |
Inventory Parts Gross
InventoryPartsGross
|
24800000 | |
| CY2020Q2 | us-gaap |
Inventory Gross
InventoryGross
|
216700000 | |
| CY2019Q4 | us-gaap |
Inventory Gross
InventoryGross
|
146100000 | |
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:8pt;margin-bottom:0pt;text-indent:4.46%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The COVID-19 outbreak has caused significant disruptions to national and global economies. Our businesses are designated as critical infrastructure companies by the government and, as such, have remained open. We have instituted various initiatives throughout the company as part of our business continuity programs, and we are working to mitigate risk when disruptions occur. While we continue to expect this situation to be temporary, and we believe we have successfully navigated the second quarter of 2020, any longer-term impacts of COVID-19 (or a future pandemic of its nature) is currently difficult to predict with certainty.</p> <p style="text-align:justify;margin-top:8pt;margin-bottom:0pt;text-indent:4.46%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The nature of our business requires that we make estimates and assumptions in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. The COVID-19 outbreak has an impact on the approach to these estimates and assumptions and will continue to do so. Any increased severity of the COVID outbreak and the related future financial impacts cannot be estimated at this time. Our estimates at the end of the second quarter assumed no material impact from the disruptions caused by COVID-19. </p> <p style="text-align:justify;margin-top:8pt;margin-bottom:0pt;text-indent:4.46%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts COVID-19 as of June 30, 2020 and through the date of this report. The accounting matters assessed included, but were not limited to, the Company’s allowance for doubtful accounts, inventory and related reserves and the carrying value of goodwill and other long-lived assets. While there was no material impact to the Company’s consolidated financial statements as of and for the quarter ended June 30, 2020, the Company’s future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in material impacts to the Company’s consolidated financial statements in future reporting periods.</p> | ||
| CY2020Q1 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | |
| us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | ||
| altg |
Offering Costs Offset From Proceeds Of Reverse Capitalization
OfferingCostsOffsetFromProceedsOfReverseCapitalization
|
2600000 | ||
| CY2019Q4 | us-gaap |
Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
|
700000 | |
| us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
|
400000 | ||
| us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
0 | ||
| CY2020Q2 | altg |
Partnership Owned Percentage In Operating Entity
PartnershipOwnedPercentageInOperatingEntity
|
1.00 | |
| CY2020Q2 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
8668750 | |
| CY2020Q2 | us-gaap |
Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
|
P5Y | |
| CY2020Q2 | altg |
Lease Liability
LeaseLiability
|
4600000 | |
| CY2019Q4 | altg |
Lease Liability
LeaseLiability
|
5500000 | |
| CY2020Q2 | altg |
Liability Guarantee To Repurchase Equipment At Residual Amount
LiabilityGuaranteeToRepurchaseEquipmentAtResidualAmount
|
11000000 | |
| CY2019Q4 | altg |
Liability Guarantee To Repurchase Equipment At Residual Amount
LiabilityGuaranteeToRepurchaseEquipmentAtResidualAmount
|
12500000 | |
| us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
7800000 | ||
| us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
7200000 | ||
| CY2020Q2 | altg |
Inventory New Equipment Gross
InventoryNewEquipmentGross
|
145500000 | |
| CY2019Q4 | altg |
Inventory New Equipment Gross
InventoryNewEquipmentGross
|
92800000 | |
| CY2020Q2 | altg |
Inventory Used Equipment Gross
InventoryUsedEquipmentGross
|
34300000 | |
| CY2019Q4 | altg |
Inventory Used Equipment Gross
InventoryUsedEquipmentGross
|
25200000 | |
| CY2020Q2 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
3900000 | |
| CY2019Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
3300000 | |
| CY2020Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
600000 | |
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
700000 | ||
| CY2019Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
0 | |
| CY2020Q2 | us-gaap |
Deferred Tax Liabilities
DeferredTaxLiabilities
|
17400000 | |
| CY2017Q4 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
33333.33 | |
| CY2020Q2 | altg |
Inventory Accumulated Depreciation
InventoryAccumulatedDepreciation
|
7200000 | |
| CY2019Q4 | altg |
Inventory Accumulated Depreciation
InventoryAccumulatedDepreciation
|
7000000 | |
| CY2020Q2 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
2800000 | |
| CY2019Q4 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
1900000 | |
| CY2020Q2 | altg |
Capitalized Direct Labor Expense Included In Work In Process
CapitalizedDirectLaborExpenseIncludedInWorkInProcess
|
1300000 | |
| CY2019Q4 | altg |
Capitalized Direct Labor Expense Included In Work In Process
CapitalizedDirectLaborExpenseIncludedInWorkInProcess
|
1200000 | |
| CY2020Q2 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
407200000 | |
| CY2019Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
308600000 | |
| CY2020Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
126900000 | |
| CY2019Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
112100000 | |
| CY2020Q2 | us-gaap |
Capital Leased Assets Gross
CapitalLeasedAssetsGross
|
3900000 | |
| CY2019Q4 | us-gaap |
Capital Leased Assets Gross
CapitalLeasedAssetsGross
|
3500000 | |
| CY2020Q2 | altg |
Capital Leases Lessee Balance Sheet Assets By Major Class Accumulated Amortization
CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedAmortization
|
1900000 | |
| CY2019Q4 | altg |
Capital Leases Lessee Balance Sheet Assets By Major Class Accumulated Amortization
CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedAmortization
|
1300000 | |
| CY2020Q2 | altg |
Gpo Assets
GPOAssets
|
16300000 | |
| CY2019Q4 | altg |
Gpo Assets
GPOAssets
|
18400000 | |
| us-gaap |
Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
|
13100000 | ||
| CY2020Q2 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
19200000 | |
| CY2020Q2 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
2100000 | |
| CY2019Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
6500000 | |
| CY2019Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
3500000 | |
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
100000 | ||
| us-gaap |
Debt Instrument Description
DebtInstrumentDescription
|
In connection with the reverse recapitalization, the Company entered into a new Note Purchase Agreement (the “Term Loan”) dated as of February 3, 2020, for the purposes of, among other things, (i) financing the reverse recapitalization, (ii) financing the acquisitions of Flagler and Liftech; and (iii) providing for the repayment and refinance of a portion of the Company’s prior existing debt. | ||
| CY2020Q2 | us-gaap |
Subordinated Debt
SubordinatedDebt
|
0 | |
| CY2020Q2 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
153100000 | |
| CY2019Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
97000000 | |
| CY2020Q2 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
2200000 | |
| CY2019Q4 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
2500000 | |
| CY2020Q2 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
5200000 | |
| CY2019Q4 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
900000 | |
| CY2020Q2 | us-gaap |
Long Term Debt
LongTermDebt
|
145700000 | |
| CY2019Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
93600000 | |
| CY2020Q2 | us-gaap |
Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
|
2500000 | |
| CY2019Q4 | us-gaap |
Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
|
3300000 | |
| CY2020Q2 | altg |
Accrued Guarantees
AccruedGuarantees
|
0 | |
| CY2019Q4 | altg |
Accrued Guarantees
AccruedGuarantees
|
0 | |
| CY2020Q2 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-400000 | |
| us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-1200000 | ||
| us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
-300000 | ||
| CY2019Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | ||
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-6800000 | ||
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.227 | ||
| CY2017Q4 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
0.01 | |
| CY2017Q4 | altg |
Purchase Of Outstanding Warrants Upon Repayment Of Senior Indebtedness Percentage
PurchaseOfOutstandingWarrantsUponRepaymentOfSeniorIndebtednessPercentage
|
0.75 | |
| CY2017Q4 | altg |
Warrants Expiration Date
WarrantsExpirationDate
|
2027-12-27 | |
| CY2020Q2 | altg |
Warrant Liability Noncurrent
WarrantLiabilityNoncurrent
|
0 | |
| us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | ||
| CY2020Q1 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-7600000 | |
| CY2020Q1 | us-gaap |
Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
|
7600000 | |
| us-gaap |
Interest Expense
InterestExpense
|
11600000 | ||
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
30600000 | ||
| CY2020Q2 | us-gaap |
Interest Expense
InterestExpense
|
5700000 | |
| CY2020Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
16700000 | |
| us-gaap |
Interest Expense
InterestExpense
|
9500000 | ||
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
20500000 | ||
| CY2019Q2 | us-gaap |
Interest Expense
InterestExpense
|
5000000 | |
| CY2019Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
11400000 |
