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Note 15 - Commitments and Contingencies | 9 Months Ended
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Sep. 30, 2021
Notes to Financial Statements |
Commitments and Contingencies Disclosure [Text Block] | 15. Commitments and Contingencies The Company has an arrangement with a finance company to provide floor plan financing for certain dealers. The Company receives payment from the finance company after shipment of product to the dealer. The Company participates in the cost of dealer financing up to certain limits and has agreed to repurchase products repossessed by the finance company, but does not indemnify the finance company for any credit losses they incur. The amount financed by dealers which remained outstanding under this arrangement at September 30, 2021 and December 31, 2020 was approximately $97,000 and $55,600, respectively. From time to time, we are involved in legal proceedings primarily involving product liability, regulatory, and employment matters, as well as general commercial disputes arising in the ordinary course of our business. As of September 30, 2021, the Company believes there are no legal proceedings pending that would have a material effect on its results of operations or financial condition. Federal Securities Law Class Actions On August 20, 2021 and August 31, 2021, the Company and certain of its officers were named as defendants in two putative federal securities law class actions filed in the U.S. District Court for the Central District of California (the "Federal Securities Law Class Actions"). These actions were filed, respectively, under the captions Khami v. Generac Holdings Inc., et al., Case No. 2:21-cv- 06777, and Procter v. Generac Holdings Inc., et al., Case No. 2:21-cv- 07009. On October 19, 2021, the Company filed in each case a motion to transfer venue to the U.S. District Court for the Eastern District of Wisconsin. The plaintiffs in both cases allege that the Company and its officers made false or misleading statements regarding the Company's exposure to liability associated with a recall of portable generators issued by the Company in conjunction with the U.S. Consumer Product Safety Commission, and bring claims for unspecified damages under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and SEC Rule 10b- 5. The Company is vigorously defending both of the Federal Securities Law Class Actions, and does not believe they will have a material adverse effect on our results of operations or financial condition.

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