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Note 8 - Balance Sheet Details

9 Months Ended

Sep. 30, 2022

Supplemental Balance Sheet Disclosures [Text Block]

8. Balance Sheet Details

As of September 30, 2022, the Company had gross receivables of $569,470 and an allowance for credit losses of $26,942. The following is a tabular reconciliation of the Company's allowance for credit losses:

	*Nine Months Ended September 30, 2022*
Balance at beginning of period	$	12,025
Established for acquisitions		515
Provision for credit losses (1)		18,012
Charge-offs		(3,172	)
Currency translation		(438	)
Balance at end of period	$	26,942

(1)

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.

Inventories consist of the following:

	*September 30,*		*December 31,*
	*2022*		*2021*
Raw material	$	819,612	$	727,162
Work-in-process		17,358		10,756
Finished goods		587,721		351,787
Total	$	1,424,691	$	1,089,705

Property and equipment consists of the following:

	*September 30,*			*December 31,*
	*2022*			*2021*

Land and improvements	$	21,841		$	26,137
Buildings and improvements		239,231			244,273
Machinery and equipment		220,756			186,611
Dies and tools		36,088			31,581
Vehicles		9,063			7,621
Office equipment and systems		144,437			125,048
Leasehold improvements		6,625			5,679
Construction in progress		39,494			47,601
Gross property and equipment		717,535			674,551
Accumulated depreciation		(267,402	)		(233,699	)
Total	$	450,133		$	440,852

Total property and equipment included finance leases of $26,267 and $36,776 on September 30, 2022 and December 31, 2021, respectively, primarily made up of buildings and improvements. Amortization of finance lease right of use assets is recorded within depreciation expense in the condensed consolidated statements of comprehensive income. The initial measurement of new finance lease right of use assets is accounted for as a non-cash item in the condensed consolidated statements of cash flows.