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Note 4 - Redeemable Noncontrolling Interest | 9 Months Ended
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Sep. 30, 2018
Notes to Financial Statements |
Redeemable Noncontrolling Interest [Text Block] | 4 . Redeemable Noncontrolling Interest On March 1, 2016, the Company acquired a 65% ownership interest in PR Industrial S.r.l. and its subsidiaries (Pramac). The 35% noncontrolling interest in Pramac had an acquisition date fair value of $34,253 and was recorded as a redeemable noncontrolling interest in the condensed consolidated balance sheets, as the noncontrolling interest holder has within its control the right to require the Company to redeem its interest in Pramac. The noncontrolling interest holder has a put option to sell his interest to the Company any time within five years from the date of acquisition. Within the first two years from the date of acquisition, the put option price was based on a fixed amount if voluntarily exercised. Subsequently, the put option price is based on the greater of the fixed amount or a multiple of earnings, subject to the terms of the acquisition. Additionally, the Company holds a call option that it may redeem commencing five years from the date of acquisition, or earlier upon the occurrence of certain circumstances. The call option price is based on a multiple of earnings that is subject to the terms of the acquisition. Both the put and call option only provide for the complete transfer of the noncontrolling interest, with no partial transfers of interest permitted. The redeemable noncontrolling interest is recorded at the greater of the initial fair value, increased or decreased for the noncontrolling interests’ share of comprehensive income (loss), or the estimated redemption value, with any adjustments to the redemption value impacting retained earnings, but not net income. However, the redemption value adjustments are reflected in the earnings per share calculation, as detailed in Note 13, “Earnings Per Share,” to the condensed consolidated financial statements. The following table presents the changes in the redeemable noncontrolling interest:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |  |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |  |
Balance at beginning of period |  | $ | 53,035 |  |  | $ | 37,796 |  |  | $ | 43,929 |  |  | $ | 33,138 |  |
Noncontrolling interest of Pramac |  |  | - |  |  |  | 1,540 |  | (1) |  | - |  |  |  | 1,540 |  | (1)
Net income |  |  | 519 |  |  |  | 283 |  |  |  | 1,341 |  |  |  | 493 |  |
Foreign currency translation |  |  | (569 | ) |  |  | 2,178 |  |  |  | (2,255 | ) |  |  | 7,535 |  |
Redemption value adjustment |  |  | 6,912 |  | (2) |  | - |  |  |  | 16,882 |  | (2) |  | (909 | ) |
Balance at end of period |  | $ | 59,897 |  |  | $ | 41,797 |  |  | $ | 59,897 |  |  | $ | 41,797 |  |
| ( 1 ) | Represents the additional noncontrolling interest of Pramac resulting from a common control transaction between the Generac Mobile Products S.r.l. and Pramac UK Limited legal entities.
| ( 2 ) | The redemption value adjustments recorded during the three and nine month periods ended September 30, 2018 relate to the adjustment required to reflect the redeemable noncontrolling interest value as a multiple of earnings after two years from the date of acquisition, in accordance with the terms of the acquisition.

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