$ALTG
ALTA EQUIPMENT GROUP INC.

2020 Form 10-K Financial Statement

#000156459021014150 Filed on March 18, 2021

View on sec.gov

Income Statement

Concept 2020 2019 Q4 2019
Revenue $873.6M $0.00 $557.4M
YoY Change 56.73%
Cost Of Revenue $659.1M $405.3M
YoY Change 62.62%
Gross Profit $214.5M $152.1M
YoY Change 41.03%
Gross Profit Margin 24.55% 27.29%
Selling, General & Admin $216.0M
YoY Change
% of Gross Profit 100.7%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $75.00M $50.10M
YoY Change 49.7%
% of Gross Profit 34.97% 32.94%
Operating Expenses $222.6M $1.600M $140.4M
YoY Change 58.55%
Operating Profit -$8.100M $11.70M
YoY Change -169.23%
Interest Expense $23.80M $600.0K $20.50M
YoY Change 16.1%
% of Operating Profit 175.21%
Other Income/Expense, Net -$22.50M -$47.10M
YoY Change -52.23%
Pretax Income -$30.60M -$1.000M -$35.40M
YoY Change -13.56%
Income Tax -$6.600M $0.00 $0.00
% Of Pretax Income
Net Earnings -$24.00M -$1.000M -$35.40M
YoY Change -32.2%
Net Earnings / Revenue -2.75% -6.35%
Basic Earnings Per Share -$0.90
Diluted Earnings Per Share -$0.90 -$54.35K $0.00
COMMON SHARES
Basic Shares Outstanding 26.61M
Diluted Shares Outstanding 26.61M

Balance Sheet

Concept 2020 2019 Q4 2019
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.200M $700.0K $700.0K
YoY Change 71.43%
Cash & Equivalents $0.00
Short-Term Investments
Other Short-Term Assets $200.0K $200.0K
YoY Change
Inventory $229.0M $137.2M
Prepaid Expenses
Receivables $151.4M
Other Receivables $0.00
Total Short-Term Assets $381.6M $244.1M $800.0K
YoY Change 47600.0%
LONG-TERM ASSETS
Property, Plant & Equipment $311.9M $196.5M
YoY Change
Goodwill $8.600M
YoY Change 13.16%
Intangibles
YoY Change
Long-Term Investments $146.0M $146.0M
YoY Change
Other Assets $2.100M $2.000M $0.00
YoY Change -100.0%
Total Long-Term Assets $364.6M $210.1M $146.0M
YoY Change 149.73% 72900.0%
TOTAL ASSETS
Total Short-Term Assets $381.6M $244.1M $800.0K
Total Long-Term Assets $364.6M $210.1M $146.0M
Total Assets $746.2M $454.2M $146.8M
YoY Change 408.31% 73300.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $58.90M $31.10M $1.600M
YoY Change 3581.25% 700.0%
Accrued Expenses $30.10M $16.00M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $315.1M $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $7.800M $7.100M
YoY Change
Total Short-Term Liabilities $434.3M $343.4M $2.000M
YoY Change 21615.0% 900.0%
LONG-TERM LIABILITIES
Long-Term Debt $135.6M $86.50M $0.00
YoY Change
Other Long-Term Liabilities $19.40M $3.100M
YoY Change
Total Long-Term Liabilities $155.0M $89.60M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $434.3M $343.4M $2.000M
Total Long-Term Liabilities $155.0M $89.60M $0.00
Total Liabilities $589.3M $477.4M $2.000M
YoY Change 29365.0% 900.0%
SHAREHOLDERS EQUITY
Retained Earnings -$23.20M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $156.9M -$23.20M $144.9M
YoY Change
Total Liabilities & Shareholders Equity $746.2M $454.2M $146.8M
YoY Change 408.31% 73300.0%

Cashflow Statement

Concept 2020 2019 Q4 2019
OPERATING ACTIVITIES
Net Income -$24.00M -$1.000M -$35.40M
YoY Change -32.2%
Depreciation, Depletion And Amortization $75.00M $50.10M
YoY Change 49.7%
Cash From Operating Activities -$35.00M -$330.0K -$5.500M
YoY Change 536.36%
INVESTING ACTIVITIES
Capital Expenditures $4.400M $2.700M
YoY Change 62.96%
Acquisitions $180.0M $65.60M
YoY Change 174.39%
Other Investing Activities -$178.6M $0.00 -$143.8M
YoY Change 24.24%
Cash From Investing Activities -$227.9M $0.00 -$87.80M
YoY Change 159.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.900M
YoY Change
Debt Paid & Issued, Net $6.800M
YoY Change
Cash From Financing Activities 264.1M 0.000 91.80M
YoY Change 187.69% 183500.0%
NET CHANGE
Cash From Operating Activities -35.00M -330.0K -5.500M
Cash From Investing Activities -227.9M 0.000 -87.80M
Cash From Financing Activities 264.1M 0.000 91.80M
Net Change In Cash 1.200M -330.0K -1.500M
YoY Change -180.0% -3100.0%
FREE CASH FLOW
Cash From Operating Activities -$35.00M -$330.0K -$5.500M
Capital Expenditures $4.400M $2.700M
Free Cash Flow -$39.40M -$8.200M
YoY Change 380.49%

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<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">NOTE 1 &#8212; ORGANIZATION AND NATURE OF OPERATIONS</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;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 &#8220;Company&#8221;), 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.&#160; 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 (&#8220;Merger Sub&#8221;), Alta Equipment Holdings, Inc. and Ryan Greenawalt. &#160;This business merger will be referred to as &#8220;reverse recapitalization&#8221; throughout this document.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;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="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;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.&#160; 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 Construction Equipment, LLC; Alta Construction Equipment Illinois, LLC; Alta Heavy Equipment Services, LLC; NITCO, LLC; Alta Construction Equipment Florida, LLC, and Alta Construction Equipment New York, LLC.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;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="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Unless the context otherwise requires, the use of the terms &#8220;the Company&#8221;, &#8220;we,&#8221; &#8220;us,&#8221; and &#8220;our&#8221; in these notes to the unaudited consolidated financial statements refers to Alta Equipment Group Inc. and its consolidated subsidiaries.</p> <p style="margin-top:18pt;margin-bottom:0pt;margin-left:2.31%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">COVID-19</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The COVID-19 pandemic has created significant volatility in the global economy and resulted in significant disruptions to our business in the year ended December 31, 2020.&nbsp;&nbsp;The extent and duration of the COVID-19 impact on our operations and financial position, and on the domestic and global economy, remain uncertain. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Prior to mid-March 2020, our performance was generally in accordance with our expectations.&nbsp;&nbsp;In mid-March 2020, the Company started to see a slowdown in its business activity, initially and primarily in the automotive industry and in the state of Michigan due to its customers being impacted by the COVID-19 pandemic. <font style="color:#000000;">COVID-19 is discussed in more detail throughout &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations.&#8221;</font></p>
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:18pt;margin-bottom:0pt;margin-left:2.31%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:3%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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.</p>
CY2020 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-top:18pt;margin-bottom:0pt;margin-left:2.31%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of trade accounts receivable. The Company records trade accounts receivables at sales value and establishes specific reserves for certain customer accounts identified as known collection problems due to insolvency, disputes or other collection issues. The amounts of the specific reserves estimated by management are based on the following assumptions and variables: the customer&#8217;s financial position, age of the customer&#8217;s receivables and changes in payment schedules. In addition to the specific reserves, management establishes a non-specific allowance for doubtful accounts by applying specific percentages to the different receivable aging categories (excluding the specifically reserved accounts). The percentage applied against the aging categories increases as the accounts become further past due. The allowance for doubtful accounts is charged with the write-off of uncollectible customer accounts.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Credit risk can be negatively impacted by adverse changes in the economy or by disruptions in the credit markets. However, the Company believes that credit risk with respect to trade accounts receivable is somewhat mitigated by the Company&#8217;s credit evaluation procedures. Although generally no collateral is required, when feasible, mechanics&#8217; liens are filed, and personal guarantees are signed to protect the Company&#8217;s interests.</p>
CY2020 altg Number Of Vendors
NumberOfVendors
2
CY2020 altg Percentage Of Purchases Of Inventory And Related Equipment And Rental Fleet From Vendors
PercentageOfPurchasesOfInventoryAndRelatedEquipmentAndRentalFleetFromVendors
0.40
CY2019 altg Percentage Of Purchases Of Inventory And Related Equipment And Rental Fleet From Vendors
PercentageOfPurchasesOfInventoryAndRelatedEquipmentAndRentalFleetFromVendors
0.43
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
7100000
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
4400000
CY2020Q4 us-gaap Deferred Discounts Finance Charges And Interest Included In Receivables
DeferredDiscountsFinanceChargesAndInterestIncludedInReceivables
400000
CY2019Q4 us-gaap Deferred Discounts Finance Charges And Interest Included In Receivables
DeferredDiscountsFinanceChargesAndInterestIncludedInReceivables
700000
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2900000
CY2019Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1900000
CY2020 us-gaap Property Plant And Equipment Depreciation Methods
PropertyPlantAndEquipmentDepreciationMethods
straight-line basis
CY2020 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2019 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2019 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020Q4 altg Debt Discount And Deferred Financing Costs
DebtDiscountAndDeferredFinancingCosts
9800000
CY2019Q4 altg Debt Discount And Deferred Financing Costs
DebtDiscountAndDeferredFinancingCosts
5800000
CY2020Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
1800000
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
30000000
CY2019Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
1900000
CY2020 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
3500000
CY2019 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
2700000
CY2020 altg Offering Costs Offset From Proceeds Of Reverse Capitalization
OfferingCostsOffsetFromProceedsOfReverseCapitalization
2600000
CY2019Q4 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
700000
CY2019 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
400000
CY2020Q4 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.10
CY2020 altg Offering Costs Offset Of Proceeds From Depositary Shares
OfferingCostsOffsetOfProceedsFromDepositaryShares
1800000
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0
CY2020Q4 altg Partnership Owned Percentage In Operating Entity
PartnershipOwnedPercentageInOperatingEntity
1.00
CY2020 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
16400000
CY2019 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
15700000
CY2020Q4 altg Inventory New Equipment Gross
InventoryNewEquipmentGross
153500000
CY2019Q4 altg Inventory New Equipment Gross
InventoryNewEquipmentGross
89500000
CY2020Q4 altg Inventory Used Equipment Gross
InventoryUsedEquipmentGross
31400000
CY2019Q4 altg Inventory Used Equipment Gross
InventoryUsedEquipmentGross
21500000
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
5400000
CY2019Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
3300000
CY2020Q4 altg Inventory Parts Gross
InventoryPartsGross
41600000
CY2019Q4 altg Inventory Parts Gross
InventoryPartsGross
24800000
CY2020Q4 us-gaap Inventory Gross
InventoryGross
231900000
CY2019Q4 us-gaap Inventory Gross
InventoryGross
139100000
CY2020Q4 altg Capitalized Direct Labor Expense Included In Work In Process
CapitalizedDirectLaborExpenseIncludedInWorkInProcess
1700000
CY2019Q4 altg Capitalized Direct Labor Expense Included In Work In Process
CapitalizedDirectLaborExpenseIncludedInWorkInProcess
1200000
CY2020 altg Rental Depreciation Expense
RentalDepreciationExpense
3000000
CY2019 altg Rental Depreciation Expense
RentalDepreciationExpense
3400000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
452300000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
308600000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
140400000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
112100000
CY2020Q4 us-gaap Capital Leased Assets Gross
CapitalLeasedAssetsGross
4000000
CY2019Q4 us-gaap Capital Leased Assets Gross
CapitalLeasedAssetsGross
3500000
CY2020Q4 altg Capital Leases Lessee Balance Sheet Assets By Major Class Accumulated Amortization
CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedAmortization
2500000
CY2019Q4 altg Capital Leases Lessee Balance Sheet Assets By Major Class Accumulated Amortization
CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedAmortization
1300000
CY2020Q4 altg Gpo Assets
GPOAssets
13000000
CY2019Q4 altg Gpo Assets
GPOAssets
18400000
CY2018Q4 us-gaap Goodwill
Goodwill
7600000
CY2019 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
1000000
CY2020 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
15700000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3700000
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
6500000
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3500000
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2300000
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
300000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3100000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3100000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3100000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
3100000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
2800000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
11100000
CY2020 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.
CY2020Q4 us-gaap Subordinated Debt
SubordinatedDebt
0
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
149200000
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
97000000
CY2020Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1800000
CY2019Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2500000
CY2020Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
4600000
CY2019Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
900000
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
142800000
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
93600000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
7800000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
7800000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
7800000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
7800000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
118000000
CY2020Q4 altg Depository Shares Liquidation Preference Value
DepositorySharesLiquidationPreferenceValue
2500
CY2020Q4 altg Depository Shares Liquidation Preference Per Share
DepositorySharesLiquidationPreferencePerShare
2.50
CY2020 us-gaap Dividend Payment Restrictions Schedule Description
DividendPaymentRestrictionsScheduleDescription
Dividends will be payable quarterly in arrears, on or about the last day of January, April, July and October, beginning 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.
CY2020Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
8668746
CY2020Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2017Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
33333.33
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
CY2020Q4 altg Warrant Liability Noncurrent
WarrantLiabilityNoncurrent
0
CY2020Q4 us-gaap Capital Lease Obligations
CapitalLeaseObligations
1500000
CY2019Q4 us-gaap Capital Lease Obligations
CapitalLeaseObligations
2200000
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
900000
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
400000
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
100000
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
100000
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
1500000
CY2020Q4 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
900000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
3000000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
900000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
300000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
100000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
4300000
CY2020 altg Operating Lease Expiration Term1
OperatingLeaseExpirationTerm1
2035-02
CY2020 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
900000
CY2019 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
700000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
23500000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
21500000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
19500000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
18100000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
14700000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
40200000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
137500000
CY2020Q4 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
2100000
CY2020Q4 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
2400000
CY2020Q4 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
2200000
CY2020Q4 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
1800000
CY2020Q4 us-gaap Purchase Obligation Due In Fifth Year
PurchaseObligationDueInFifthYear
500000
CY2020Q4 us-gaap Purchase Obligation
PurchaseObligation
9000000
CY2020Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
2400000
CY2019Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
3300000
CY2020Q4 altg Accrued Guarantees
AccruedGuarantees
0
CY2019Q4 altg Accrued Guarantees
AccruedGuarantees
0
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-5000000
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-1600000
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-4300000
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1200000
CY2020 altg Income Tax Reconciliation Permanent Differences On Life Insurance
IncomeTaxReconciliationPermanentDifferencesOnLifeInsurance
-1700000
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
600000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-20700000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.319
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
500000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
4700000
CY2020Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
600000
CY2020Q4 altg Deferred Tax Assets Accounts Receivable And Inventories
DeferredTaxAssetsAccountsReceivableAndInventories
3800000
CY2020Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
6000000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
2800000
CY2020Q4 altg Deferred Tax Assets Deferred Payroll Taxes And Other
DeferredTaxAssetsDeferredPayrollTaxesAndOther
2000000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
19900000
CY2020Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
18200000
CY2020Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
1200000
CY2020Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
19400000
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
500000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
4700000
CY2020 altg Percentage Of Future Taxable Income
PercentageOfFutureTaxableIncome
0.80
CY2020Q4 altg Deferred Employer Payroll Taxes Under Cares Act
DeferredEmployerPayrollTaxesUnderCARESAct
5600000
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3600000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
690000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
390000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
300000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.60
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
7.60
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
7.60
CY2020Q4 us-gaap Accrued Insurance Current And Noncurrent
AccruedInsuranceCurrentAndNoncurrent
1100000
CY2019Q4 us-gaap Accrued Insurance Current And Noncurrent
AccruedInsuranceCurrentAndNoncurrent
600000
CY2020 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
15900000
CY2019 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
8500000
CY2020Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
3000000
CY2020Q3 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2100000
CY2019 altg General And Administrative Expenses Adjustment
GeneralAndAdministrativeExpensesAdjustment
137600000
CY2019 us-gaap Interest Expense
InterestExpense
20500000
CY2020 us-gaap Multiemployer Plan Employer Contribution Cost
MultiemployerPlanEmployerContributionCost
2468000
CY2019 us-gaap Multiemployer Plan Employer Contribution Cost
MultiemployerPlanEmployerContributionCost
2011000
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2020Q4 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
7600000
CY2020 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
8000000
CY2020 us-gaap Interest Expense
InterestExpense
23800000
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
75000000
CY2019 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
50100000

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