2021 Form 10-K Financial Statement

#000156459022012996 Filed on March 31, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $1.213B $280.4M $873.6M
YoY Change 38.83% 56.73%
Cost Of Revenue $898.4M $216.0M $659.1M
YoY Change 36.31% 62.62%
Gross Profit $314.4M $64.40M $214.5M
YoY Change 46.57% 41.03%
Gross Profit Margin 25.92% 22.97% 24.55%
Selling, General & Admin $285.9M $62.80M $216.0M
YoY Change 32.36%
% of Gross Profit 90.94% 97.52% 100.7%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $95.80M $23.40M $75.00M
YoY Change 27.73% 49.7%
% of Gross Profit 30.47% 36.34% 34.97%
Operating Expenses $296.4M $64.90M $222.6M
YoY Change 33.15% 3956.25% 58.55%
Operating Profit $18.00M -$500.0K -$8.100M
YoY Change -322.22% -169.23%
Interest Expense $24.00M -$6.100M $23.80M
YoY Change 0.84% -1116.67% 16.1%
% of Operating Profit 133.33%
Other Income/Expense, Net -$35.20M $200.0K -$22.50M
YoY Change 56.44% -52.23%
Pretax Income -$17.20M -$6.400M -$30.60M
YoY Change -43.79% 540.0% -13.56%
Income Tax $3.600M -$3.200M -$6.600M
% Of Pretax Income
Net Earnings -$20.80M -$3.200M -$24.00M
YoY Change -13.33% 220.0% -32.2%
Net Earnings / Revenue -1.72% -1.14% -2.75%
Basic Earnings Per Share -$0.74 -$0.90
Diluted Earnings Per Share -$0.74 -$108.8K -$0.90
COMMON SHARES
Basic Shares Outstanding 31.71M 26.61M
Diluted Shares Outstanding 31.71M 26.61M

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.300M $1.200M $1.200M
YoY Change 91.67% 71.43% 71.43%
Cash & Equivalents $1.200M
Short-Term Investments
Other Short-Term Assets $24.40M
YoY Change
Inventory $239.2M $229.0M $229.0M
Prepaid Expenses
Receivables $182.7M $151.4M $151.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $448.6M $381.6M $381.6M
YoY Change 17.56% 56.33% 47600.0%
LONG-TERM ASSETS
Property, Plant & Equipment $447.1M $311.9M $311.9M
YoY Change 43.35% 58.73%
Goodwill $24.30M
YoY Change 182.56%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.600M $2.100M $2.100M
YoY Change -23.81% 5.0%
Total Long-Term Assets $534.0M $364.6M $364.6M
YoY Change 46.46% 73.54% 149.73%
TOTAL ASSETS
Total Short-Term Assets $448.6M $381.6M $381.6M
Total Long-Term Assets $534.0M $364.6M $364.6M
Total Assets $982.6M $746.2M $746.2M
YoY Change 31.68% 64.29% 408.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $73.50M $58.90M $58.90M
YoY Change 24.79% 89.39% 3581.25%
Accrued Expenses $55.50M $30.10M $30.10M
YoY Change 84.39% 88.13%
Deferred Revenue
YoY Change
Short-Term Debt $253.2M $315.1M $315.1M
YoY Change -19.64%
Long-Term Debt Due $2.600M $8.700M $7.800M
YoY Change -66.67% 22.54%
Total Short-Term Liabilities $420.6M $434.3M $434.3M
YoY Change -3.15% 26.47% 21615.0%
LONG-TERM LIABILITIES
Long-Term Debt $319.0M $135.0M $135.6M
YoY Change 135.25% 56.07%
Other Long-Term Liabilities $101.4M $6.900M $19.40M
YoY Change 422.68% 122.58%
Total Long-Term Liabilities $420.4M $141.9M $155.0M
YoY Change 171.23% 58.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $420.6M $434.3M $434.3M
Total Long-Term Liabilities $420.4M $141.9M $155.0M
Total Liabilities $847.9M $589.3M $589.3M
YoY Change 43.88% 23.44% 29365.0%
SHAREHOLDERS EQUITY
Retained Earnings -$53.40M
YoY Change 130.17%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.900M
YoY Change
Treasury Stock Shares
Shareholders Equity $134.7M $156.9M $156.9M
YoY Change
Total Liabilities & Shareholders Equity $982.6M $746.2M $746.2M
YoY Change 31.68% 64.29% 408.31%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income -$20.80M -$3.200M -$24.00M
YoY Change -13.33% 220.0% -32.2%
Depreciation, Depletion And Amortization $95.80M $23.40M $75.00M
YoY Change 27.73% 49.7%
Cash From Operating Activities $30.70M $6.300M -$35.00M
YoY Change -187.71% -2009.09% 536.36%
INVESTING ACTIVITIES
Capital Expenditures $8.100M -$7.400M $4.400M
YoY Change 84.09% 62.96%
Acquisitions $63.40M $180.0M
YoY Change -64.78% 174.39%
Other Investing Activities -$61.10M -$50.80M -$178.6M
YoY Change -65.79% 24.24%
Cash From Investing Activities -$113.4M -$58.20M -$227.9M
YoY Change -50.24% 159.57%
FINANCING ACTIVITIES
Cash Dividend Paid $2.600M
YoY Change
Common Stock Issuance & Retirement, Net $1.900M
YoY Change
Debt Paid & Issued, Net $1.900M $6.800M
YoY Change -72.06%
Cash From Financing Activities 83.80M 53.00M 264.1M
YoY Change -68.27% 187.69%
NET CHANGE
Cash From Operating Activities 30.70M 6.300M -35.00M
Cash From Investing Activities -113.4M -58.20M -227.9M
Cash From Financing Activities 83.80M 53.00M 264.1M
Net Change In Cash -82.70M 1.100M 1.200M
YoY Change -6991.67% -433.33% -180.0%
FREE CASH FLOW
Cash From Operating Activities $30.70M $6.300M -$35.00M
Capital Expenditures $8.100M -$7.400M $4.400M
Free Cash Flow $22.60M $13.70M -$39.40M
YoY Change -157.36% 380.49%

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8100000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4400000
CY2021 altg Payments For Guaranteed Purchase Obligations
PaymentsForGuaranteedPurchaseObligations
1900000
CY2020 altg Payments For Guaranteed Purchase Obligations
PaymentsForGuaranteedPurchaseObligations
3400000
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
63400000
CY2020 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
180000000.0
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-113400000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-227900000
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1700000
CY2020 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2700000
CY2020 altg Extinguishment Of Floor Plans And Line Of Credit
ExtinguishmentOfFloorPlansAndLineOfCredit
132900000
CY2021 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
153100000
CY2020 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
82000000.0
CY2020 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
6700000
CY2020 altg Extinguishment Of Warrant Liability
ExtinguishmentOfWarrantLiability
29600000
CY2021 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
323000000.0
CY2020 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
428700000
CY2021 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
382400000
CY2020 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
262600000
CY2021 altg Proceeds From Floor Plans With Unaffiliated Source
ProceedsFromFloorPlansWithUnaffiliatedSource
105300000
CY2020 altg Proceeds From Floor Plans With Unaffiliated Source
ProceedsFromFloorPlansWithUnaffiliatedSource
87700000
CY2021 altg Payments Under Floor Plans With Unaffiliated Source
PaymentsUnderFloorPlansWithUnaffiliatedSource
110100000
CY2020 altg Payments Under Floor Plans With Unaffiliated Source
PaymentsUnderFloorPlansWithUnaffiliatedSource
80900000
CY2020 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
149400000
CY2021 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
310200000
CY2021 us-gaap Payments Of Dividends
PaymentsOfDividends
2600000
CY2021 altg Payment Of Promissory Note
PaymentOfPromissoryNote
1000000.0
CY2021 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1900000
CY2020 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
6800000
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1900000
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1100000
CY2020 altg Equity Proceeds From Reverse Recapitalization
EquityProceedsFromReverseRecapitalization
-175700000
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4000000.0
CY2020 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
28200000
CY2020 altg Proceeds From Disgorgement Of Short Swing Profits
ProceedsFromDisgorgementOfShortSwingProfits
1600000
CY2020 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
5900000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
264100000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1200000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2300000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1200000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
20200000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
29300000
CY2021 us-gaap Nature Of Operations
NatureOfOperations
<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 — ORGANIZATION AND NATURE OF OPERATIONS</p> <p style="margin-top:8pt;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. and its subsidiaries (“Alta” or the “Company”) is engaged in the retail sale, service, and rental of material handling and construction equipment in the states of Michigan, Illinois, Indiana, Ohio, New York (including New York City in our Material Handling segment), Virginia and Florida as well as the New England region (including Boston) of the United States.</p> <p style="margin-top:8pt;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 Holdings, Inc. is the holding company for Alta Enterprises, LLC. Alta Enterprises, LLC is the holding company for Alta Industrial Equipment Michigan; LLC; Alta Industrial Equipment Company, LLC; Alta Industrial Equipment New York, LLC; PeakLogix, LLC; Alta Material Handling New York State, LLC; Alta Construction Equipment, LLC; Alta Construction Equipment Illinois, LLC; Alta Heavy Equipment Services, LLC; NITCO, LLC; Alta Construction Equipment Florida, LLC; Alta Construction Equipment Ohio, LLC; Alta Construction Equipment New England, LLC; Alta Mine Services, LLC; and Alta Construction Equipment New York, LLC.</p> <p style="margin-top:8pt;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 Construction Equipment, LLC is the holding company for Alta Kubota Michigan, LLC which is the holding company of Ginop Sales, Inc.</p> <p style="margin-top:8pt;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 “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 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-7600000
CY2021 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<br/></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>
CY2021 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’s financial position, age of the customer’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’s credit evaluation procedures. Although generally no collateral is required, when feasible, mechanics’ liens are filed, and personal guarantees are signed to protect the Company’s interests.</p>
CY2021 altg Number Of Vendors
NumberOfVendors
2
CY2021 altg Percentage Of Purchases Of New Equipment And Parts Inventory And Rental Fleet From Vendors
PercentageOfPurchasesOfNewEquipmentAndPartsInventoryAndRentalFleetFromVendors
0.35
CY2020 altg Percentage Of Purchases Of New Equipment And Parts Inventory And Rental Fleet From Vendors
PercentageOfPurchasesOfNewEquipmentAndPartsInventoryAndRentalFleetFromVendors
0.40
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
10700000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
7100000
CY2021Q4 us-gaap Deferred Discounts Finance Charges And Interest Included In Receivables
DeferredDiscountsFinanceChargesAndInterestIncludedInReceivables
100000
CY2020Q4 us-gaap Deferred Discounts Finance Charges And Interest Included In Receivables
DeferredDiscountsFinanceChargesAndInterestIncludedInReceivables
400000
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
3500000
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2900000
CY2021 us-gaap Property Plant And Equipment Depreciation Methods
PropertyPlantAndEquipmentDepreciationMethods
straight-line basis
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2020 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2021Q4 altg Debt Discount And Deferred Financing Costs
DebtDiscountAndDeferredFinancingCosts
9300000
CY2020Q4 altg Debt Discount And Deferred Financing Costs
DebtDiscountAndDeferredFinancingCosts
9800000
CY2021Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
1900000
CY2020Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
1800000
CY2021 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
5500000
CY2020 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
3500000
CY2021 altg Offering Costs Offset From Proceeds Of Reverse Capitalization
OfferingCostsOffsetFromProceedsOfReverseCapitalization
2600000
CY2020Q4 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.10
CY2021 altg Offering Costs Offset Of Proceeds From Depositary Shares
OfferingCostsOffsetOfProceedsFromDepositaryShares
1800000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1212800000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
873600000
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0
CY2021Q4 altg Partnership Owned Percentage In Operating Entity
PartnershipOwnedPercentageInOperatingEntity
1
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
18800000
CY2020 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
16400000
CY2021Q4 altg Contract With Customer Assets
ContractWithCustomerAssets
6000000.0
CY2020Q4 altg Contract With Customer Assets
ContractWithCustomerAssets
100000
CY2021 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
8500000
CY2021Q4 altg Inventory New Equipment Gross
InventoryNewEquipmentGross
146000000.0
CY2020Q4 altg Inventory New Equipment Gross
InventoryNewEquipmentGross
153500000
CY2021Q4 altg Inventory Used Equipment Gross
InventoryUsedEquipmentGross
34300000
CY2020Q4 altg Inventory Used Equipment Gross
InventoryUsedEquipmentGross
31400000
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
6700000
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
5400000
CY2021Q4 altg Inventory Parts Gross
InventoryPartsGross
55700000
CY2020Q4 altg Inventory Parts Gross
InventoryPartsGross
41600000
CY2021Q4 us-gaap Inventory Gross
InventoryGross
242700000
CY2020Q4 us-gaap Inventory Gross
InventoryGross
231900000
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
3500000
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2900000
CY2021Q4 us-gaap Inventory Net
InventoryNet
239200000
CY2020Q4 us-gaap Inventory Net
InventoryNet
229000000.0
CY2021Q4 altg Capitalized Direct Labor Expense Included In Work In Process
CapitalizedDirectLaborExpenseIncludedInWorkInProcess
1600000
CY2020Q4 altg Capitalized Direct Labor Expense Included In Work In Process
CapitalizedDirectLaborExpenseIncludedInWorkInProcess
1700000
CY2021 altg Rental Depreciation Expense
RentalDepreciationExpense
5800000
CY2020 altg Rental Depreciation Expense
RentalDepreciationExpense
3000000.0
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
517600000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
452300000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
173100000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
140400000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
344500000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
311900000
CY2021Q4 altg Finance Lease Assets Gross
FinanceLeaseAssetsGross
15100000
CY2020Q4 altg Finance Lease Assets Gross
FinanceLeaseAssetsGross
4000000.0
CY2021Q4 altg Finance Leases Lessee Balance Sheet Assets By Major Class Accumulated Amortization
FinanceLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedAmortization
3800000
CY2020Q4 altg Finance Leases Lessee Balance Sheet Assets By Major Class Accumulated Amortization
FinanceLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedAmortization
2500000
CY2021Q4 altg Gpo Assets
GPOAssets
9700000
CY2020Q4 altg Gpo Assets
GPOAssets
13000000.0
CY2019Q4 us-gaap Goodwill
Goodwill
8600000
CY2020 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
15700000
CY2020Q4 us-gaap Goodwill
Goodwill
24300000
CY2021 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
19000000.0
CY2021 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
1400000
CY2021Q4 us-gaap Goodwill
Goodwill
41900000
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
50500000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7100000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
43400000
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
30000000.0
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3700000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
26300000
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3300000
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2300000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
5700000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
5400000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
5300000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
5000000.0
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
4900000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
17100000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
43400000
CY2021 us-gaap Debt Instrument Description
DebtInstrumentDescription
On April 1, 2021, the Company completed a private offering of our Senior Secured Second Lien Notes (the “Notes”), for the purposes of, among other things, repayment and refinancing of a portion of the Company’s prior existing debt, reducing interest rate exposure and providing liquidity for financing of future growth initiatives.
CY2021Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-11900000
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
11600000
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
1500000
CY2021Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
321600000
CY2021 us-gaap Dividend Payment Restrictions Schedule Description
DividendPaymentRestrictionsScheduleDescription
Dividends are payable quarterly in arrears, on or about the last day of January, April, July and October, 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.
CY2021Q2 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.89
CY2021Q3 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.625
CY2021Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.625
CY2020Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
8668746
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
315000000.0
CY2021Q4 altg Debt Instrument High Yield Notes
DebtInstrumentHighYieldNotes
315000000.0
CY2021Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1000000.0
CY2020Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1800000
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
4000000.0
CY2020Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
4600000
CY2020Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
144300000
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
2600000
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
8700000
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
319000000.0
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
135600000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
315000000.0
CY2020Q4 altg Depository Shares Liquidation Preference Value
DepositorySharesLiquidationPreferenceValue
2500
CY2020Q4 altg Depository Shares Liquidation Preference Per Share
DepositorySharesLiquidationPreferencePerShare
2.50
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
CY2021Q4 altg Finance Lease Assets Net Of Accumulated Depreciation
FinanceLeaseAssetsNetOfAccumulatedDepreciation
11300000
CY2020Q4 altg Finance Lease Assets Net Of Accumulated Depreciation
FinanceLeaseAssetsNetOfAccumulatedDepreciation
1500000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
23300000
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
4300000
CY2021 altg Low Value Lease Expense
LowValueLeaseExpense
600000
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
1500000
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
2000000.0
CY2021 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
400000
CY2021 us-gaap Sublease Income
SubleaseIncome
100000
CY2021 us-gaap Lease Cost
LeaseCost
32000000.0
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
19300000
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
900000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
22300000
CY2021 altg Operating Cash Flows For Financing Leases
OperatingCashFlowsForFinancingLeases
400000
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1900000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
15500000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
12600000
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.063
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.056
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
22000000.0
CY2021Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
3100000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
21100000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
2700000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
19900000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
2500000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
16900000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
2400000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
13800000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
1700000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
37400000
CY2021Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
700000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
131100000
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CY2021Q4 us-gaap Purchase Obligation Due In Next Twelve Months
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CY2021Q4 us-gaap Purchase Obligation
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CY2020 us-gaap Income Tax Reconciliation Other Adjustments
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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23200000
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CY2020Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2021Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
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CY2020Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
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1200000
CY2021Q4 us-gaap Deferred Income Tax Liabilities
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CY2020Q4 us-gaap Deferred Income Tax Liabilities
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CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2021Q4 us-gaap Deferred Tax Liabilities
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CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
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174000
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