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Note 9 - Revenue
 6 Months Ended
Jun. 30, 2020
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

9 – Revenue

 

The Company’s revenues are primarily generated from the sale of finished products to customers. Those sales predominantly contain a single delivery element and revenue for such sales is recognized when the customer obtains control, which is typically when the finished product is delivered to the customer. The Company’s material revenue streams have been identified as the following: the sale of new and used commercial vehicles, arrangement of associated commercial vehicle financing and insurance contracts, the performance of commercial vehicle repair services and the sale of commercial vehicle parts. Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from revenues.  

 

The following table summarizes the Company’s disaggregated revenue by revenue source for the three months and six months ended June 30, 2020 and 2019 (in thousands):

 

  

Three Months Ended

  

Six Months Ended

 
  

June 30, 2020

  

June 30, 2019

  

June 30, 2020

  

June 30, 2019

 

Commercial vehicle sales revenue

 $559,062  $1,024,801  $1,348,616  $1,863,084 

Parts revenue

  211,804   254,664   448,402   501,981 

Commercial vehicle repair service revenue

  165,749   193,502   357,129   384,539 

Finance revenue

  2,523   3,558   4,879   7,653 

Insurance revenue

  2,437   2,843   4,548   5,358 

Other revenue

  3,647   3,602   7,530   9,239 

Total

 $945,222  $1,482,970  $2,171,104  $2,771,854 

 

All of the Company's performance obligations are generally transferred to customers at a point in time. The Company does not have any material contract assets or contract liabilities on the balance sheet as of June 30, 2020 or December 31, 2019. Revenues related to commercial vehicle sales, parts sales, commercial vehicle repair service, finance and the majority of other revenues are related to the Truck Segment.