ジェネラックホールディングスの年次報告

0001474735 GENERAC HOLDINGS INC. false --12-31 FY 2023 33,925 27,664 0.01 0.01 500,000,000 500,000,000 73,195,055 72,701,257 13,057,298 11,284,350 0 0 0 0 0 0 3,923 3,919 3,819 1,028 5 5 0 0 0 0 0 0 0 20 3 147 2 80 96,595 91,694 84,833 58,065 5 10 24 74,480 112,945 4 10 17,376 3 3 27,223 1,886 true false false false Represents favorable impact from the weakening of the U.S. dollar against foreign currencies during the year ended December 31, 2023, particularly the Euro, British Pound, and Mexican Peso. Recorded in the operating lease and other long-term liabilities line within the consolidated balance sheets Represents the non-cash write-off of original issue discount and deferred financing costs due primarily to a voluntary prepayment of debt. Represents severance and other restructuring charges related to the consolidation of certain operating facilities and organizational functions. Recorded in the other accrued liabilities line within the consolidated balance sheets Includes a specific warranty provision recorded during the third quarter of 2022 in the amount of $37,338 to address certain clean energy product related matters. he contingent consideration for the period ended June 30, 2022, was paid during the fourth quarter of 2022 in the amount of $47,123 in shares of common stock, or 196,531 shares of common stock, and $542 was paid with cash on hand. Additionally, during the fourth quarter of 2022, the Company entered into a definitive agreement to accelerate the measurement and payment for the remaining contingent consideration period ending June 30, 2023. The parties agreed to a final payment amount of $45,000 issued with 466,188 shares of common stock and $479 of cash. The $45,000 was paid during the first quarter of 2023. Recorded in the operating lease and other assets line within the consolidated balance sheets Includes a specific credit loss provision of $17,926 recorded during the third quarter of 2022 for a clean energy product customer that filed for bankruptcy. Represents unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the year ended December 31, 2022, particularly the Euro and British Pound. Represents the following significant and unusual charges not indicative of our ongoing operations: • a provision for judgments and legal expenses related to certain patent and securities lawsuits - $28,340 in 2023. • a provision for a matter with the CPSC concerning the imposition of civil fines for allegedly failing to timely submit a report under the CPSA in relation to certain portable generators that were subject to a voluntary recall previously announced on July 29, 2021 - $5,800 in 2023; $10,000 in 2022. • a bad debt provision and additional customer support costs for a clean energy product customer that filed for bankruptcy in 2022 – $4,350 additional customer support costs in 2023; $17,926 bad debt provision 2022. • a warranty provision to address certain clean energy product warranty-related matters - $37,338 in 2022. Includes a payment for a purchase option reasonably certain to be exercised in 2025. Represents unrealized gains of $51,352 on the interest rate swaps, net of tax effect of $(12,858) for the year ended December 31, 2022. Payable on the third business day after December 31, 2023. With the adoption of ASU 2016-09 in 2017, excess tax benefits from equity awards are reflected within the provision for income taxes rather than within the consolidated balance sheet. Includes additional pro forma intangible amortization from all acquisitions as though the transactions had occurred on January 1, 2021 of $111, $2,465, and $70,152 for the years ended December 31, 2023, 2022, and 2021, respectively. Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods. Includes gains/losses on disposals of assets and sales of certain investments, unrealized mark-to-market adjustments on commodity contracts, certain foreign currency related adjustments, and certain purchase accounting and contingent consideration adjustments. Includes payments of $479 in cash and $44,521 in shares for the ecobee acquisition, $4,286 in shares for the Chilicon acquisition, and $4,500 in cash for the Mean Green acquisition. The payment of common stock is accounted for as a non-cash item in the consolidated statement of cash flows. Result of adopting ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. Includes a payment for a purchase option reasonably certain to be exercised in 2025. Represents unrealized losses of $10,678 on the interest rate swaps, net of tax effect of $(2,674) for the year ended December 31, 2023. Recorded in the current portion of long-term borrowings and finance lease obligations line within the consolidated balance sheets There were no awards with an anti-dilutive impact for the years ended December 31, 2021, 2020 and 2019. Recorded in the property and equipment, net line within the consolidated balance sheets Payable in common stock issued upon achievement of certain performance targets within 45 calendar days following the conclusion of the earnout period, December 31, 2025. Recorded in the long-term borrowings and finance lease obligations line within the consolidated balance sheets Represents $11,490 of contingent deferred consideration for the Pramac buyout. See Note 3, "Redeemable Noncontrolling Interest". Deductions from the allowance for doubtful accounts equal accounts receivable written off against the allowance, less recoveries, as well as foreign currency translation adjustments. Deductions from the reserves for inventory excess and obsolete items equal inventory written off against the reserve as items were disposed of, as well as foreign currency translation adjustments. Represents severance and other restructuring charges related to the consolidation of certain operating facilities and organizational functions. 1 1 1 1 1 00014747352023-01-012023-12-31 iso4217:USD 00014747352023-06-30 00014747352024-02-16 thunderdome:item 00014747352023-12-31 00014747352022-12-31 iso4217:USDxbrli:shares 00014747352022-01-012022-12-31 00014747352021-01-012021-12-31 0001474735us-gaap:CommonStockMember2020-12-31 0001474735us-gaap:AdditionalPaidInCapitalMember2020-12-31 0001474735us-gaap:TreasuryStockCommonMember2020-12-31 0001474735gnrc:ExcessPurchasePriceOverPredecessorBasisMember2020-12-31 0001474735us-gaap:RetainedEarningsMember2020-12-31 0001474735us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-31 0001474735us-gaap:ParentMember2020-12-31 0001474735us-gaap:NoncontrollingInterestMember2020-12-31 00014747352020-12-31 0001474735us-gaap:CommonStockMember2021-01-012021-12-31 0001474735us-gaap:AdditionalPaidInCapitalMember2021-01-012021-12-31 0001474735us-gaap:TreasuryStockCommonMember2021-01-012021-12-31 0001474735gnrc:ExcessPurchasePriceOverPredecessorBasisMember2021-01-012021-12-31 0001474735us-gaap:RetainedEarningsMember2021-01-012021-12-31 0001474735us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-12-31 0001474735us-gaap:ParentMember2021-01-012021-12-31 0001474735us-gaap:NoncontrollingInterestMember2021-01-012021-12-31 0001474735us-gaap:CommonStockMember2021-12-31 0001474735us-gaap:AdditionalPaidInCapitalMember2021-12-31 0001474735us-gaap:TreasuryStockCommonMember2021-12-31 0001474735gnrc:ExcessPurchasePriceOverPredecessorBasisMember2021-12-31 0001474735us-gaap:RetainedEarningsMember2021-12-31 0001474735us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-31 0001474735us-gaap:ParentMember2021-12-31 0001474735us-gaap:NoncontrollingInterestMember2021-12-31 00014747352021-12-31 0001474735us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-31 0001474735us-gaap:ParentMember2022-01-012022-12-31 0001474735us-gaap:CommonStockMember2022-01-012022-12-31 0001474735us-gaap:AdditionalPaidInCapitalMember2022-01-012022-12-31 0001474735us-gaap:TreasuryStockCommonMember2022-01-012022-12-31 0001474735gnrc:ExcessPurchasePriceOverPredecessorBasisMember2022-01-012022-12-31 0001474735us-gaap:RetainedEarningsMember2022-01-012022-12-31 0001474735us-gaap:NoncontrollingInterestMember2022-01-012022-12-31 0001474735us-gaap:CommonStockMember2022-12-31 0001474735us-gaap:AdditionalPaidInCapitalMember2022-12-31 0001474735us-gaap:TreasuryStockCommonMember2022-12-31 0001474735gnrc:ExcessPurchasePriceOverPredecessorBasisMember2022-12-31 0001474735us-gaap:RetainedEarningsMember2022-12-31 0001474735us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-31 0001474735us-gaap:ParentMember2022-12-31 0001474735us-gaap:NoncontrollingInterestMember2022-12-31 0001474735us-gaap:CommonStockMember2023-01-012023-12-31 0001474735us-gaap:AdditionalPaidInCapitalMember2023-01-012023-12-31 0001474735us-gaap:TreasuryStockCommonMember2023-01-012023-12-31 0001474735gnrc:ExcessPurchasePriceOverPredecessorBasisMember2023-01-012023-12-31 0001474735us-gaap:RetainedEarningsMember2023-01-012023-12-31 0001474735us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-12-31 0001474735us-gaap:ParentMember2023-01-012023-12-31 0001474735us-gaap:NoncontrollingInterestMember2023-01-012023-12-31 0001474735us-gaap:CommonStockMember2023-12-31 0001474735us-gaap:AdditionalPaidInCapitalMember2023-12-31 0001474735us-gaap:TreasuryStockCommonMember2023-12-31 0001474735gnrc:ExcessPurchasePriceOverPredecessorBasisMember2023-12-31 0001474735us-gaap:RetainedEarningsMember2023-12-31 0001474735us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-31 0001474735us-gaap:ParentMember2023-12-31 0001474735us-gaap:NoncontrollingInterestMember2023-12-31 xbrli:pure 0001474735us-gaap:AccountsReceivableMemberus-gaap:CustomerConcentrationRiskMembergnrc:OneCustomerMember2023-01-012023-12-31 0001474735us-gaap:AccountsReceivableMemberus-gaap:CustomerConcentrationRiskMembergnrc:OneCustomerMember2022-01-012022-12-31 0001474735us-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2023-01-012023-12-31 0001474735us-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2021-01-012021-12-31 0001474735us-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2022-01-012022-12-31 0001474735us-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMembergnrc:NoCustomerMember2023-01-012023-12-31 0001474735us-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMembergnrc:NoCustomerMember2022-01-012022-12-31 0001474735us-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMembergnrc:NoCustomerMember2021-01-012021-12-31 0001474735gnrc:CleanEnergyProductMember2022-07-012022-09-30 utr:Y 0001474735us-gaap:LandImprovementsMembersrt:MinimumMember2023-12-31 0001474735us-gaap:LandImprovementsMembersrt:MaximumMember2023-12-31 0001474735us-gaap:BuildingAndBuildingImprovementsMembersrt:MinimumMember2023-12-31 0001474735us-gaap:BuildingAndBuildingImprovementsMembersrt:MaximumMember2023-12-31 0001474735us-gaap:MachineryAndEquipmentMembersrt:MinimumMember2023-12-31 0001474735us-gaap:MachineryAndEquipmentMembersrt:MaximumMember2023-12-31 0001474735gnrc:DiesAndToolsMembersrt:MinimumMember2023-12-31 0001474735gnrc:DiesAndToolsMembersrt:MaximumMember2023-12-31 0001474735us-gaap:VehiclesMembersrt:MinimumMember2023-12-31 0001474735us-gaap:VehiclesMembersrt:MaximumMember2023-12-31 0001474735us-gaap:OfficeEquipmentMembersrt:MinimumMember2023-12-31 0001474735us-gaap:OfficeEquipmentMembersrt:MaximumMember2023-12-31 0001474735us-gaap:LeaseholdImprovementsMembersrt:MinimumMember2023-12-31 0001474735us-gaap:LeaseholdImprovementsMembersrt:MaximumMember2023-12-31 0001474735gnrc:TermLoanMember2023-12-31 0001474735us-gaap:FairValueInputsLevel2Member2023-12-31 0001474735gnrc:OtherAccruedLiabilitiesMember2022-12-31 0001474735gnrc:OtherLongtermLiabilitiesMember2022-12-31 0001474735gnrc:ContingentConsiderationLiabilityMember2022-12-31 0001474735gnrc:ContingentConsiderationLiabilityMember2023-01-012023-12-31 0001474735gnrc:ContingentConsiderationLiabilityMember2023-12-31 0001474735gnrc:PramacMember2023-03-082023-03-08 0001474735gnrc:EcobeeIncMember2023-01-012023-12-31 0001474735gnrc:AcquisitionOfChiliconMember2023-01-012023-12-31 0001474735gnrc:MeanGreenMember2023-01-012023-12-31 0001474735gnrc:EECAndBluePillarMember2022-01-012022-12-31 0001474735gnrc:EECAndBluePillarMember2023-01-012023-12-31 0001474735gnrc:AcquisitionOfDeepSeaMember2021-06-012021-06-01 0001474735gnrc:AcquisitionOfDeepSeaMember2021-06-01 0001474735gnrc:AcquisitionOfChiliconMember2021-07-022021-07-02 0001474735gnrc:AcquisitionOfChiliconMember2021-07-02 0001474735gnrc:AcquisitionOfOffGridEnergyMember2021-09-012021-09-01 0001474735gnrc:AcquisitionOfOffGridEnergyMember2021-09-01 0001474735gnrc:AcquisitionOfOffGridEnergyMember2022-07-012022-09-30 0001474735gnrc:EcobeeIncMember2021-12-012021-12-01 0001474735gnrc:EcobeeIncMember2022-10-012022-12-31 0001474735gnrc:EcobeeIncMember2023-01-012023-03-31 0001474735gnrc:EcobeeIncMember2021-12-31 0001474735gnrc:Other2021AcquisitionsMember2021-01-012021-12-31 0001474735gnrc:The2023AcquistionsMember2023-12-31 0001474735gnrc:The2022AcquisitionsMember2022-12-31 0001474735gnrc:AcquisitionOfDeepSeaMember2021-12-31 0001474735gnrc:AllOther2021AcquisitionsMember2021-12-31 0001474735gnrc:The2021AcquisitionsMember2021-12-31 0001474735srt:ProFormaMember2023-01-012023-12-31 0001474735srt:ProFormaMember2022-01-012022-12-31 0001474735srt:ProFormaMember2021-01-012021-12-31 0001474735gnrc:AllAcquisitionsMember2023-01-012023-12-31 0001474735gnrc:AllAcquisitionsMember2022-01-012022-12-31 0001474735gnrc:AllAcquisitionsMember2021-01-012021-12-31 0001474735gnrc:PramacMember2016-03-01 0001474735gnrc:PramacMember2016-03-01 0001474735gnrc:PramacMember2021-05-012021-05-31 0001474735gnrc:PramacMember2021-05-31 0001474735gnrc:PramacMember2021-05-31 0001474735gnrc:PramacMember2023-03-08 0001474735gnrc:CaptivaEnergySolutionsMember2019-02-01 0001474735gnrc:CaptivaEnergySolutionsMember2019-02-01 0001474735gnrc:CaptivaEnergySolutionsMember2019-02-012019-02-01 0001474735gnrc:CaptivaEnergySolutionsMember2022-03-31 0001474735gnrc:CaptivaEnergySolutionsMember2022-03-012022-03-31 0001474735gnrc:CaptivaEnergySolutionsMember2022-05-31 0001474735gnrc:CaptivaEnergySolutionsMember2022-05-012022-05-31 0001474735gnrc:RedeemableNoncontrollingInterestMember2022-12-31 0001474735gnrc:RedeemableNoncontrollingInterestMember2021-12-31 0001474735gnrc:RedeemableNoncontrollingInterestMember2020-12-31 0001474735gnrc:RedeemableNoncontrollingInterestMember2023-01-012023-12-31 0001474735gnrc:RedeemableNoncontrollingInterestMember2022-01-012022-12-31 0001474735gnrc:RedeemableNoncontrollingInterestMember2021-01-012021-12-31 0001474735gnrc:RedeemableNoncontrollingInterestMember2023-12-31 0001474735us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberus-gaap:CostOfSalesMember2023-01-012023-12-31 0001474735us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberus-gaap:CostOfSalesMember2022-01-012022-12-31 0001474735us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberus-gaap:CostOfSalesMember2021-01-012021-12-31 0001474735us-gaap:CommodityContractMember2023-12-31 0001474735us-gaap:CommodityContractMember2022-12-31 0001474735us-gaap:ForeignExchangeContractMember2023-12-31 0001474735us-gaap:ForeignExchangeContractMember2022-12-31 0001474735us-gaap:InterestRateSwapMember2017-01-012017-12-31 0001474735us-gaap:InterestRateSwapMember2020-03-012020-03-31 0001474735us-gaap:InterestRateSwapMember2023-01-012023-12-31 0001474735us-gaap:InterestRateSwapMember2022-01-012022-12-31 0001474735us-gaap:InterestRateSwapMember2021-01-012021-12-31 0001474735us-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel2Member2023-12-31 0001474735us-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel2Member2022-12-31 0001474735us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Member2023-12-31 0001474735us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Member2022-12-31 0001474735us-gaap:AccumulatedTranslationAdjustmentMember2022-12-31 0001474735us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-12-31 0001474735us-gaap:AccumulatedTranslationAdjustmentMember2023-01-012023-12-31 0001474735us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-01-012023-12-31 0001474735us-gaap:AccumulatedTranslationAdjustmentMember2023-12-31 0001474735us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-12-31 0001474735us-gaap:AccumulatedTranslationAdjustmentMember2021-12-31 0001474735us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-12-31 0001474735us-gaap:AccumulatedTranslationAdjustmentMember2022-01-012022-12-31 0001474735us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-01-012022-12-31 0001474735gnrc:ResidentialPowerProductsMembergnrc:DomesticMember2023-01-012023-12-31 0001474735gnrc:ResidentialPowerProductsMembergnrc:InternationalMember2023-01-012023-12-31 0001474735gnrc:ResidentialPowerProductsMember2023-01-012023-12-31 0001474735gnrc:CommercialAndIndustrialPowerProductsMembergnrc:DomesticMember2023-01-012023-12-31 0001474735gnrc:CommercialAndIndustrialPowerProductsMembergnrc:InternationalMember2023-01-012023-12-31 0001474735gnrc:CommercialAndIndustrialPowerProductsMember2023-01-012023-12-31 0001474735gnrc:OtherProductsAndServicesMembergnrc:DomesticMember2023-01-012023-12-31 0001474735gnrc:OtherProductsAndServicesMembergnrc:InternationalMember2023-01-012023-12-31 0001474735gnrc:OtherProductsAndServicesMember2023-01-012023-12-31 0001474735gnrc:DomesticMember2023-01-012023-12-31 0001474735gnrc:InternationalMember2023-01-012023-12-31 0001474735gnrc:ResidentialPowerProductsMembergnrc:DomesticMember2022-01-012022-12-31 0001474735gnrc:ResidentialPowerProductsMembergnrc:InternationalMember2022-01-012022-12-31 0001474735gnrc:ResidentialPowerProductsMember2022-01-012022-12-31 0001474735gnrc:CommercialAndIndustrialPowerProductsMembergnrc:DomesticMember2022-01-012022-12-31 0001474735gnrc:CommercialAndIndustrialPowerProductsMembergnrc:InternationalMember2022-01-012022-12-31 0001474735gnrc:CommercialAndIndustrialPowerProductsMember2022-01-012022-12-31 0001474735gnrc:OtherProductsAndServicesMembergnrc:DomesticMember2022-01-012022-12-31 0001474735gnrc:OtherProductsAndServicesMembergnrc:InternationalMember2022-01-012022-12-31 0001474735gnrc:OtherProductsAndServicesMember2022-01-012022-12-31 0001474735gnrc:DomesticMember2022-01-012022-12-31 0001474735gnrc:InternationalMember2022-01-012022-12-31 0001474735gnrc:ResidentialPowerProductsMembergnrc:DomesticMember2021-01-012021-12-31 0001474735gnrc:ResidentialPowerProductsMembergnrc:InternationalMember2021-01-012021-12-31 0001474735gnrc:ResidentialPowerProductsMember2021-01-012021-12-31 0001474735gnrc:CommercialAndIndustrialPowerProductsMembergnrc:DomesticMember2021-01-012021-12-31 0001474735gnrc:CommercialAndIndustrialPowerProductsMembergnrc:InternationalMember2021-01-012021-12-31 0001474735gnrc:CommercialAndIndustrialPowerProductsMember2021-01-012021-12-31 0001474735gnrc:OtherProductsAndServicesMembergnrc:DomesticMember2021-01-012021-12-31 0001474735gnrc:OtherProductsAndServicesMembergnrc:InternationalMember2021-01-012021-12-31 0001474735gnrc:OtherProductsAndServicesMember2021-01-012021-12-31 0001474735gnrc:DomesticMember2021-01-012021-12-31 0001474735gnrc:InternationalMember2021-01-012021-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:ExternalNetSalesMembergnrc:DomesticMember2023-01-012023-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:ExternalNetSalesMembergnrc:InternationalMember2023-01-012023-12-31 0001474735us-gaap:IntersegmentEliminationMembergnrc:ExternalNetSalesMember2023-01-012023-12-31 0001474735gnrc:ExternalNetSalesMember2023-01-012023-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:IntersegmentSalesMembergnrc:DomesticMember2023-01-012023-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:IntersegmentSalesMembergnrc:InternationalMember2023-01-012023-12-31 0001474735us-gaap:IntersegmentEliminationMembergnrc:IntersegmentSalesMember2023-01-012023-12-31 0001474735gnrc:IntersegmentSalesMember2023-01-012023-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:DomesticMember2023-01-012023-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:InternationalMember2023-01-012023-12-31 0001474735us-gaap:IntersegmentEliminationMember2023-01-012023-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:ExternalNetSalesMembergnrc:DomesticMember2022-01-012022-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:ExternalNetSalesMembergnrc:InternationalMember2022-01-012022-12-31 0001474735us-gaap:IntersegmentEliminationMembergnrc:ExternalNetSalesMember2022-01-012022-12-31 0001474735gnrc:ExternalNetSalesMember2022-01-012022-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:IntersegmentSalesMembergnrc:DomesticMember2022-01-012022-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:IntersegmentSalesMembergnrc:InternationalMember2022-01-012022-12-31 0001474735us-gaap:IntersegmentEliminationMembergnrc:IntersegmentSalesMember2022-01-012022-12-31 0001474735gnrc:IntersegmentSalesMember2022-01-012022-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:DomesticMember2022-01-012022-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:InternationalMember2022-01-012022-12-31 0001474735us-gaap:IntersegmentEliminationMember2022-01-012022-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:ExternalNetSalesMembergnrc:DomesticMember2021-01-012021-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:ExternalNetSalesMembergnrc:InternationalMember2021-01-012021-12-31 0001474735us-gaap:IntersegmentEliminationMembergnrc:ExternalNetSalesMember2021-01-012021-12-31 0001474735gnrc:ExternalNetSalesMember2021-01-012021-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:IntersegmentSalesMembergnrc:DomesticMember2021-01-012021-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:IntersegmentSalesMembergnrc:InternationalMember2021-01-012021-12-31 0001474735us-gaap:IntersegmentEliminationMembergnrc:IntersegmentSalesMember2021-01-012021-12-31 0001474735gnrc:IntersegmentSalesMember2021-01-012021-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:DomesticMember2021-01-012021-12-31 0001474735us-gaap:OperatingSegmentsMembergnrc:InternationalMember2021-01-012021-12-31 0001474735us-gaap:IntersegmentEliminationMember2021-01-012021-12-31 0001474735gnrc:PatentsAndSecuritesMember2023-01-012023-12-31 0001474735us-gaap:ProductMember2023-01-012023-12-31 0001474735us-gaap:ProductMember2022-01-012022-12-31 0001474735gnrc:CleanEnergyProductMember2023-01-012023-12-31 0001474735gnrc:CleanEnergyProductMember2022-01-012022-12-31 0001474735gnrc:DomesticMember2023-12-31 0001474735gnrc:DomesticMember2022-12-31 0001474735gnrc:DomesticMember2021-12-31 0001474735gnrc:InternationalMember2023-12-31 0001474735gnrc:InternationalMember2022-12-31 0001474735gnrc:InternationalMember2021-12-31 0001474735us-gaap:SalesRevenueNetMemberus-gaap:GeographicConcentrationRiskMembercountry:US2023-01-012023-12-31 0001474735us-gaap:SalesRevenueNetMemberus-gaap:GeographicConcentrationRiskMembercountry:US2022-01-012022-01-01 0001474735us-gaap:SalesRevenueNetMemberus-gaap:GeographicConcentrationRiskMembercountry:US2021-01-012021-12-31 0001474735gnrc:LonglivedAssetsMemberus-gaap:GeographicConcentrationRiskMembercountry:US2023-01-012023-12-31 0001474735gnrc:LonglivedAssetsMemberus-gaap:GeographicConcentrationRiskMembercountry:US2022-01-012022-12-31 0001474735us-gaap:LandAndLandImprovementsMember2023-12-31 0001474735us-gaap:LandAndLandImprovementsMember2022-12-31 0001474735us-gaap:BuildingAndBuildingImprovementsMember2023-12-31 0001474735us-gaap:BuildingAndBuildingImprovementsMember2022-12-31 0001474735us-gaap:MachineryAndEquipmentMember2023-12-31 0001474735us-gaap:MachineryAndEquipmentMember2022-12-31 0001474735gnrc:DiesAndToolsMember2023-12-31 0001474735gnrc:DiesAndToolsMember2022-12-31 0001474735us-gaap:VehiclesMember2023-12-31 0001474735us-gaap:VehiclesMember2022-12-31 0001474735us-gaap:OfficeEquipmentMember2023-12-31 0001474735us-gaap:OfficeEquipmentMember2022-12-31 0001474735us-gaap:LeaseholdImprovementsMember2023-12-31 0001474735us-gaap:LeaseholdImprovementsMember2022-12-31 0001474735us-gaap:ConstructionInProgressMember2023-12-31 0001474735us-gaap:ConstructionInProgressMember2022-12-31 0001474735us-gaap:TradeNamesMember2023-12-31 0001474735us-gaap:TradeNamesMember2022-12-31 0001474735us-gaap:CustomerListsMember2023-12-31 0001474735us-gaap:CustomerListsMember2022-12-31 0001474735gnrc:PatentsAndTechnologyMember2023-12-31 0001474735gnrc:PatentsAndTechnologyMember2022-12-31 0001474735us-gaap:ComputerSoftwareIntangibleAssetMember2023-12-31 0001474735us-gaap:ComputerSoftwareIntangibleAssetMember2022-12-31 0001474735us-gaap:NoncompeteAgreementsMember2023-12-31 0001474735us-gaap:NoncompeteAgreementsMember2022-12-31 0001474735gnrc:OperatingLeaseAndOtherAssetsMember2023-12-31 0001474735gnrc:OperatingLeaseAndOtherAssetsMember2022-12-31 0001474735gnrc:OtherAccruedLiabilitiesMember2023-12-31 0001474735gnrc:OperatingLeaseAndOtherLongtermLiabilitiesMember2023-12-31 0001474735gnrc:OperatingLeaseAndOtherLongtermLiabilitiesMember2022-12-31 0001474735gnrc:OtherAccruedLiabilitiesAndOperatingLeaseAndOtherLongtermLiabilitiesMember2023-12-31 0001474735gnrc:OtherAccruedLiabilitiesAndOperatingLeaseAndOtherLongtermLiabilitiesMember2022-12-31 0001474735gnrc:FinanceLeaseAndOtherAssetsMember2023-12-31 0001474735gnrc:FinanceLeaseAndOtherAssetsMember2022-12-31 0001474735gnrc:CurrentPortionOfLongtermBorrowingsAndFinanceLeaseObligationsMember2023-12-31 0001474735gnrc:CurrentPortionOfLongtermBorrowingsAndFinanceLeaseObligationsMember2022-12-31 0001474735gnrc:FinanceLeaseAndOtherLongtermLiabilitiesMember2023-12-31 0001474735gnrc:FinanceLeaseAndOtherLongtermLiabilitiesMember2022-12-31 0001474735gnrc:OtherAccruedLiabilitiesAndFinanceLeaseAndOtherLongtermLiabilitiesMember2023-12-31 0001474735gnrc:OtherAccruedLiabilitiesAndFinanceLeaseAndOtherLongtermLiabilitiesMember2022-12-31 00014747352022-07-012022-09-30 0001474735srt:MinimumMember2023-01-012023-12-31 0001474735srt:MaximumMember2023-01-012023-12-31 0001474735

2024-01-01

2023-12-31 0001474735

2025-01-01

2023-12-31 0001474735

2026-01-01

2023-12-31 0001474735

2027-01-01

2023-12-31 0001474735

2028-01-01

2023-12-31 0001474735gnrc:TrancheATermLoanFacilityMember2023-12-31 0001474735gnrc:TrancheATermLoanFacilityMember2022-12-31 0001474735gnrc:TrancheBTermLoanFacilityMember2023-12-31 0001474735gnrc:TrancheBTermLoanFacilityMember2022-12-31 0001474735us-gaap:RevolvingCreditFacilityMember2023-12-31 0001474735us-gaap:RevolvingCreditFacilityMember2022-12-31 0001474735gnrc:TrancheATermLoanFacilityMember2023-12-31 0001474735gnrc:TrancheBTermLoanFacilityMember2023-12-31 0001474735gnrc:ABLRevolvingCreditFacilityMember2023-12-31 0001474735gnrc:OtherTermLoanFacilityMember2023-12-31 0001474735gnrc:TrancheBTermLoanFacilityMember2013-05-31 0001474735gnrc:TrancheBTermLoanFacilityMember2021-12-31 0001474735gnrc:TrancheBTermLoanFacilityMemberus-gaap:BaseRateMember2013-05-312013-05-31 0001474735gnrc:TrancheBTermLoanFacilityMembergnrc:AdjustedLIBORRateMember2013-05-312013-05-31 0001474735gnrc:TrancheBTermLoanFacilityMembergnrc:LIBORFloorRateMember2013-05-312013-05-31 0001474735gnrc:TrancheBTermLoanFacilityMemberus-gaap:BaseRateMember2023-01-012023-12-31 0001474735gnrc:TrancheBTermLoanFacilityMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2023-01-012023-12-31 0001474735gnrc:TrancheBTermLoanFacilityMembersrt:MaximumMember2023-01-012023-12-31 0001474735gnrc:TermLoanMembersrt:MaximumMember2023-01-012023-12-31 0001474735gnrc:ABLRevolvingCreditFacilityMemberus-gaap:BaseRateMember2015-05-012015-05-31 0001474735gnrc:ABLRevolvingCreditFacilityMembergnrc:AdjustedLIBORRateMember2015-05-012015-05-31 0001474735gnrc:ABLRevolvingCreditFacilityMember2021-05-01 0001474735gnrc:ABLRevolvingCreditFacilityMember2021-05-31 0001474735gnrc:ABLRevolvingCreditFacilityMembersrt:MinimumMemberus-gaap:BaseRateMember2021-05-012021-05-31 0001474735gnrc:ABLRevolvingCreditFacilityMembersrt:MaximumMemberus-gaap:BaseRateMember2021-05-012021-05-31 0001474735gnrc:ABLRevolvingCreditFacilityMembersrt:MinimumMembergnrc:LIBORFloorRateMember2021-05-012021-05-31 0001474735gnrc:ABLRevolvingCreditFacilityMembersrt:MaximumMembergnrc:LIBORFloorRateMember2021-05-012021-05-31 0001474735gnrc:ABLRevolvingCreditFacilityMember2021-05-012021-05-31 0001474735gnrc:TrancheBTermLoanFacilityMember2021-04-012021-06-30 0001474735gnrc:TrancheATermLoanFacilityMember2022-06-30 0001474735us-gaap:RevolvingCreditFacilityMember2022-06-30 0001474735gnrc:TrancheBTermLoanFacilityMember2022-06-012022-06-30 0001474735gnrc:TrancheBTermLoanFacilityMember2022-04-012022-06-30 0001474735gnrc:TrancheATermLoanFacilityAndRevolvingCreditFacilityMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2022-01-012022-12-31 0001474735gnrc:TrancheATermLoanFacilityAndRevolvingCreditFacilityMember2022-12-31 0001474735gnrc:TrancheATermLoanFacilityAndRevolvingCreditFacilityMembersrt:MinimumMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2023-01-012023-01-01 0001474735gnrc:TrancheATermLoanFacilityAndRevolvingCreditFacilityMembersrt:MaximumMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2023-01-012023-01-01 0001474735gnrc:TrancheATermLoanFacilityAndRevolvingCreditFacilityMember2023-12-31 0001474735us-gaap:RevolvingCreditFacilityMember2022-01-012022-12-31 0001474735us-gaap:RevolvingCreditFacilityMember2023-01-012023-12-31 0001474735gnrc:ABLRevolvingCreditFacilityMember2022-06-012022-06-30 00014747352020-09-30 00014747352022-08-05 00014747352020-09-012020-09-30 0001474735us-gaap:SubsequentEventMember2024-02-12 utr:M 0001474735us-gaap:SubsequentEventMember2022-02-122024-02-12 0001474735gnrc:StockRepurchaseProgramMemberus-gaap:TreasuryStockCommonMember2023-01-012023-12-31 0001474735gnrc:StockRepurchaseProgramMemberus-gaap:TreasuryStockCommonMember2022-01-012022-12-31 0001474735gnrc:StockRepurchaseProgramMemberus-gaap:TreasuryStockCommonMember2021-01-012021-12-31 0001474735gnrc:StockRepurchaseProgramMemberus-gaap:TreasuryStockCommonMember2015-08-012023-12-31 0001474735us-gaap:EmployeeStockOptionMember2023-01-012023-12-31 0001474735us-gaap:EmployeeStockOptionMember2022-01-012022-12-31 0001474735us-gaap:EmployeeStockOptionMember2021-01-012021-12-31 0001474735gnrc:SavingsPlan401kMember2023-01-012023-12-31 0001474735gnrc:SavingsPlan401kMember2022-01-012022-12-31 0001474735gnrc:SavingsPlan401kMember2021-01-012021-12-31 00014747352010-02-10 0001474735gnrc:EquityIncentivePlanPlanMember2023-01-012023-12-31 0001474735gnrc:EquityIncentivePlanPlanMember2022-01-012022-12-31 0001474735gnrc:EquityIncentivePlanPlanMember2021-01-012021-12-31 0001474735gnrc:The2019EquityIncentivePlanMember2019-06-13 0001474735gnrc:The2019EquityIncentivePlanMember2023-01-012023-12-31 0001474735gnrc:The2019EquityIncentivePlanMember2022-01-012022-12-31 0001474735gnrc:The2019EquityIncentivePlanMember2021-01-012021-12-31 0001474735srt:MinimumMember2022-01-012022-12-31 0001474735srt:MaximumMember2022-01-012022-12-31 0001474735srt:MinimumMember2021-01-012021-12-31 0001474735srt:MaximumMember2021-01-012021-12-31 0001474735us-gaap:EmployeeStockOptionMember2021-01-012021-12-31 0001474735us-gaap:EmployeeStockOptionMember2023-01-012023-12-31 0001474735us-gaap:EmployeeStockOptionMember2022-01-012022-12-31 00014747352020-01-012020-12-31 0001474735us-gaap:EmployeeStockOptionMember2023-12-31 0001474735us-gaap:RestrictedStockMember2023-01-012023-12-31 0001474735us-gaap:PerformanceSharesMember2023-01-012023-12-31 0001474735srt:MinimumMember2023-12-31 0001474735srt:MaximumMember2023-12-31 0001474735us-gaap:RestrictedStockMember2022-01-012022-12-31 0001474735us-gaap:RestrictedStockMember2021-01-012021-12-31 0001474735us-gaap:RestrictedStockMember2023-12-31 0001474735gnrc:RestrictedStockAndPerformanceSharesMember2023-01-012023-12-31 0001474735gnrc:RestrictedStockAndPerformanceSharesMember2022-01-012022-12-31 0001474735gnrc:RestrictedStockAndPerformanceSharesMember2021-01-012021-12-31 0001474735srt:BoardOfDirectorsChairmanMember2023-01-012023-12-31 0001474735srt:BoardOfDirectorsChairmanMember2022-01-012022-12-31 0001474735srt:BoardOfDirectorsChairmanMember2021-01-012021-12-31 0001474735gnrc:PowerHomeSolarLlcAgainstGeneracPowerSystemsIncMembersrt:MinimumMember2022-08-012022-08-01 0001474735gnrc:ConsumerProductSafetyCommissionMember2023-05-032023-05-03 0001474735gnrc:CaseNos21cv00428adaAnd20cv00078adaMember2023-06-232023-06-23 0001474735gnrc:CaseNos21cv00428adaAnd20cv00078adaMember2023-12-272023-12-27 0001474735gnrc:CaseNo22cv00072JRGMember2023-10-152023-10-15 00014747352023-01-012023-03-31 00014747352023-04-012023-06-30 00014747352023-07-012023-09-30 00014747352023-10-012023-12-31 00014747352022-01-012022-03-31 00014747352022-04-012022-06-30 00014747352022-10-012022-12-31 0001474735us-gaap:AllowanceForCreditLossMember2022-12-31 0001474735us-gaap:AllowanceForCreditLossMember2023-01-012023-12-31 0001474735us-gaap:InventoryValuationReserveMember2022-12-31 0001474735us-gaap:InventoryValuationReserveMember2023-01-012023-12-31 0001474735us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember2022-12-31 0001474735us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember2023-01-012023-12-31 0001474735us-gaap:AllowanceForCreditLossMember2021-12-31 0001474735us-gaap:AllowanceForCreditLossMember2022-01-012022-12-31 0001474735us-gaap:InventoryValuationReserveMember2021-12-31 0001474735us-gaap:InventoryValuationReserveMember2022-01-012022-12-31 0001474735us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember2021-12-31 0001474735us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember2022-01-012022-12-31 0001474735us-gaap:AllowanceForCreditLossMember2020-12-31 0001474735us-gaap:AllowanceForCreditLossMember2021-01-012021-12-31 0001474735us-gaap:InventoryValuationReserveMember2020-12-31 0001474735us-gaap:InventoryValuationReserveMember2021-01-012021-12-31 0001474735us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember2020-12-31 0001474735us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember2021-01-012021-12-31 0001474735gnrc:AaronJagdfeldMember2023-01-012023-12-31 0001474735gnrc:AaronJagdfeldMember2023-12-31

米国証券取引委員会（u.s. securities and exchange commission

WASHINGTON, D.C. 20549

FORM 10-K

(Mark One)
☒	1934年米国証券取引所法第13条または第15条(d)に基づく年次報告書
2023年12月31日に終了する会計年度について Or
☐	1934年米国証券取引所法（securities exchange act of 1934）第13条または第15条（d）に基づく移行報告書
までの移行期間は

Commission File Number 001-34627

GENERAC HOLDINGS INC.

(定款に明記された登録者の正確な名称)

デラウェア州（設立または組織された州またはその他の管轄区域)			20-5654756（国税庁雇用者番号）

s45 w29290 hwy 59, waukesha, wi (主要業務執行機関の所在地))			53189 (郵便番号)
(262) 544-4811（登録者の電話番号、市外局番を含む)

ACT第12項(b)に従って登録された証券：

Title of each class	Trading Symbol(s)	登録されている各取引所の名称
普通株式、額面0.01ドル	GNRC	New York Stock Exchange

法第12条(g)に基づいて登録された証券。なし

登録者が証券法ルール405で定義される著名なシーズン発行体である場合は、チェックマークで示すこと。はい☒ いいえ☐。

登録者が法第13条または第15条(d)に従って報告書を提出する必要がない場合は、チェックマークで示すこと。はい」 ☐ 「いいえ」 ⛩ 12

(1)1934年証券取引法第13条または第15条(d)により提出が義務付けられているすべての報告書を過去12ヶ月間(または登録者が当該報告書の提出を義務付けられていたより短い期間)提出したかどうか、および(2)過去90日間当該提出義務の対象であったかどうかをチェックマークで示す。はい ☒ いいえ

登録者が、過去12ヶ月間（または登録者がそのようなファイルを提出する必要があったより短い期間）に、レギュレーションS-Tのルール405（本章§232.405）に従って提出が義務付けられているすべてのインタラクティブ・データ・ファイルを電子的に提出したかどうかをチェックマークで示す。はい☒ いいえ

登録者が大規模加速ファイラー、加速ファイラー、非加速ファイラー、小規模報告企業、新興成長企業のいずれであるかをチェックマークで示す。取引所法の規則12b-2における「大型加速度フィラー」、「加速度フィラー」、「小規模報告企業」、「新興成長企業」の定義を参照のこと。

Large accelerated filer ☒	Accelerated filer ☐
Non-accelerated filer ☐	Smaller reporting company ☐
Emerging growth company ☐

新興成長企業の場合、登録者が取引所法第13条(a)に従い提供される新規または改訂された財務会計基準に準拠するための移行期間の延長を利用しないことを選択した場合は、チェックマークで示す。☐

登録者が、サーベンス・オクスリー法第404条(b)（15 U.S.C. 7262(b)）に基づく財務報告に係る内部統制の有効性に関する経営陣の評価について、その監査報告書を作成または発行した登録会計事務所による報告書および証明書を提出しているかどうかをチェックマークで示す。☒

有価証券が法第12条(b)に従って登録されている場合、提出書類に含まれる登録者の財務諸表が、以前に発行した財務諸表の誤謬の訂正を反映しているかどうかをチェックマークで示すこと。☐

それらの誤謬訂正のいずれかが、240.10D-1項(b)に従い、関連する回復期間中に登録者の執行役員が受け取ったインセンティブに基づく報酬の回復分析を必要とする修正再表示であるかどうかをチェックマークで示す。☐

登録者がシェル会社（取引所法の規則12b-2で定義）であるかどうかをチェックマークで示す。はい ☐ いいえ ⛩ 12

2023年6月30日（最近終了した第2四半期連結会計期間の最終営業日）における非関連会社が保有する議決権付普通株式の時価総額は、ニューヨーク証券取引所における当該日の終値に基づき約90億ドルでした。

2024年2月16日現在、60,269,310株が発行済みである。

DOCUMENTS INCORPORATED BY REFERENCE

証券取引委員会に提出された登録者の2023年12月31日に終了した年度の株主に対する年次報告書の一部は、参照により本フォーム10-KのパートIIに組み込まれる。登録者が2023年12月31日に終了した事業年度終了後120日以内に提出する予定の2024年株主総会招集通知（以下「2024年株主総会招集通知」）の一部は、参照により本フォーム10-KのパートIIIに組み込まれる。

		Page
PART I

Item 1.	事業目的	2
Item 1A.	Risk Factors	14
Item 1B.	スタッフからの未解決のコメント	21
Item 1C.	Cybersecurity	21
Item 2.	Properties	21
Item 3.	Legal Proceedings	22
Item 4.	鉱山安全情報開示	22

PART II

Item 5.	登録者の普通株式の市場、関連株主の事項および発行者の持分証券の購入について	22
Item 6.	[削除・予約］	24
Item 7.	経営陣による財政状態および経営成績の検討と分析	24
Item 7A.	市場リスクに関する定量的および定性的な開示	35
Item 8.	財務諸表および補足資料	36
Item 9.	会計方針の変更・会計上の見積りの変更・修正再表示	71
Item 9A.	コントロールとプロシージャー	71
Item 9B.	Other Information	72
Item 9C.	査察を妨げる外国管轄権に関する開示	72

PART III

Item 10.	取締役、執行役およびコーポレート・ガバナンス	72
Item 11.	Executive Compensation	72
Item 12.	特定の受益者及び経営陣の証券所有権並びに関連株主の事項	72
Item 13.	特定の関係および関連取引、ならびに取締役の独立性	72
Item 14.	主な会計士報酬およびサービス	72

PART IV

Item 15.	添付書類および財務諸表一覧表	72
Item 16.	フォーム10-kの概要	76

	●	シングルソースサプライヤーを含む、少数の契約製造業者や部品サプライヤーへの依存。;
	●	当社の知的財産権を保護する能力、または第三者からの侵害主張に対する防御に成功する能力;
	●	製造物責任およびその他の賠償請求、保証費用、リコール、その他の請求の増加;

	●	重要な法的手続き、請求、罰金、違約金、税務評価、訴訟、政府調査;
	●	自社株買いプログラムを完了する能力;

	●	製品の開発・改良、および製品の顧客受容を獲得する能力;
	●	製品の需要に影響を与える停電の頻度と期間;
	●	消費者や企業による耐久消費財支出、またはその他のマクロ経済状況の変化が、当社製品に対する需要に影響を与えること。;

	●	当社製品の需要を正確に予測し、その予測に対して在庫レベルを効果的に管理する能力;
	●	競争力を維持する能力;
	●	ディーラーおよび流通ネットワークへの依存;
	●	販売価格や製品構成の変化に対する市場の反応;
	●	主要な経営陣および従業員の喪失;
	●	労働争議または組織的労働活動による混乱;
	●	従業員を惹きつけ、維持する能力;
	●	製造業務の中断;
	●	米国の貿易政策の変化;
	●	買収、事業分離、再編、再編成により期待されるシナジー効果、効率性、コスト削減が実現しない可能性、または期待される期間内に実現しない可能性。;
	●	外国での部品調達に関するリスク;
	●	環境・衛生・安全に関する法規制の遵守;
	●	当社製品に対する政府の規制;
	●	当社のネットワーク、情報技術システム、または接続された製品の故障またはセキュリティ侵害;
	●	債務に対する支払い能力;
	●	事業を制限する可能性のある与信枠の条件;
	●	成長資金の調達や既存与信枠の借り換えのために追加資金が必要となる可能性;
	●	営業権およびその他の無期限資産の減損リスク;
	●	株価の変動性
	●	potential tax liabilities.