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Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2018
Accounting Policies [Abstract]  
New Accounting Pronouncements, Policy [Policy Text Block]
New Accounting Standards
Not
Yet Adopted
 
In
February 2016,
the Financial Standards Accounting Board (FASB) issued Accounting Standards Update (ASU)
2016
-
02,
Leases
. This guidance is being issued to increase transparency and comparability among organizations by requiring the recognition of lease assets and lease liabilities on the balance sheet and by disclosing key information about leasing arrangements. The guidance should be applied using a modified retrospective approach and is effective for the Company in
2019,
with early adoption permitted. The Company is currently assessing the impact the adoption of this guidance will have on the Company’s results of operations and financial position.
 
In
August 2017,
the FASB issued ASU
2017
-
12,
Derivatives and Hedging
–
Targeted Improvements to Accounting for Hedging Activities
. This guidance was issued to improve the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements, and to make certain targeted improvements to simplify the application of the hedge accounting guidance. The standard is effective for the Company in
2019,
with early adoption permitted. The Company is currently assessing the impact the adoption of this guidance will have on the Company’s results of operations and financial position.
 
There are several other new accounting pronouncements issued by the FASB. Each of these pronouncements, as applicable, has been or will be adopted by the Company. Management does
not
believe any of these accounting pronouncements has had or will have a material impact on the Company’s consolidated financial statements.
 
Recently Adopted
Accounting Standards
 
On
January 1, 2018,
the Company adopted ASU
2017
-
07,
Improving the Presentation of Net Periodic Pension Cost and Net
Periodic
Postretirement Benefit Cost
. The new standard requires presentation of certain components of net periodic pension cost as non-operating expense. The new standard did
not
have a significant impact on the Company’s financial statements. The changes in presentation of the components of net periodic pension cost were applied retrospectively to all periods presented.
 
On
January 1, 2018,
the Company adopted ASU
2016
-
15,
Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments
. The changes in presentation of the proceeds from beneficial interests in securitization transactions were applied retrospectively to all periods presented.
 
On
January 1, 2018,
the Company adopted ASU
2014
-
09,
Revenue from Contracts with Customers
, and all related amendments (the “new revenue recognition standard”) using the full retrospective method, which requires application to all periods presented.
 
The impact of adopting the above standards on the Company’s previously reported condensed consolidated financial statements is as follows:
 
Condensed Consolidated Balance Sheet
  
March 31, 2017
  
   
As Reported
    
Impact of Adoption
    
As Adjusted
  
                         
Accounts Receivable
   $
223,031
     $
(2,484
 )   $
220,547
  
Inventories
    
390,908
      
6,082
      
396,990
  
Other accrued liabilities
    
91,853
      
5,604
      
97,457
  
Deferred income taxes
    
27,376
      
(2,954
 )    
24,422
  
Other long-term liabilities
    
62,129
      
5,548
      
67,677
  
Retained earnings
   $
469,508
     $
(4,600
 )   $
464,908
  
 
Condensed Consolidated Statement of Comprehensive Income
  
Three Months Ended March 31, 2017
  
   
As Reported
    
Impact of Adoption
    
As Adjusted
  
                         
Net sales
   $
331,814
     $
(1,329
 )   $
330,485
  
Cost of goods sold
    
221,328
      
357
      
221,685
  
Selling and service expenses
    
40,184
      
(717
 )    
39,467
  
Research and development expenses
    
10,301
      
(14
 )    
10,287
  
Other, net
    
(223
 )    
140
      
(83
 )
Provision for income taxes
    
8,251
      
(428
 )    
7,823
  
Net income attributable to Generac Holdings Inc.
   $
12,842
     $
(667
 )   $
12,175
  
                         
Earnings per share
                        
Basic
   $
0.22
     $
(0.01
 )   $
0.21
  
Diluted
   $
0.21
     $
(0.01
 )   $
0.20
  
                         
Comprehensive income attributable to Generac Holdings Inc.
   $
16,387
     $
(667
 )   $
15,720
  
 
Condensed Consolidated Statement of Cash Flows
  
Three Months Ended March 31, 2017
  
   
As Reported
    
Impact of Adoption
    
As Adjusted
  
                         
Net income
   $
12,849
     $
(667
 )   $
12,182
  
Deferred income taxes
    
6,958
      
(428
 )    
6,530
  
Accounts receivable
    
19,973
      
395
      
20,368
  
Inventories
    
(35,338
 )    
(337
 )    
(35,675
 )
Other accrued liabilities
    
(305
 )    
408
      
103
  
Net cash used in operating activities
   $
(4,546
 )   $
(629
 )   $
(5,175
 )
                         
Proceeds from beneficial interests in securitization transactions
   $
-
     $
629
     $
629
  
Net cash provided by (used in) investing activities
   $
(1,903
 )   $
629
     $
(1,274
 )