XML 26 R15.htm IDEA: XBRL DOCUMENT v3.21.2
Note 9 - Revenue
 9 Months Ended
Sep. 30, 2021
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 from 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 nine months ended September 30, 2021 and 2020 (in thousands):

 

   

Three Months Ended

    

Nine Months Ended

  
   

September 30, 2021

    

September 30, 2020

    

September 30, 2021

    

September 30, 2020

  

Commercial vehicle sales revenue

   $ 729,344     $ 711,754     $ 2,274,332     $ 2,060,370  

Parts revenue

     274,551       235,282       778,479       683,684  

Commercial vehicle repair service revenue

     188,469       164,978       545,804       522,107  

Finance revenue

     3,757       3,107       12,210       7,986  

Insurance revenue

     3,094       2,526       8,513       7,074  

Other revenue

     4,617       3,008       12,692       10,538  

Total

   $ 1,203,832     $ 1,120,655     $ 3,632,030     $ 3,291,759  

 

All of the Company's performance obligations and associated revenues are generally transferred to customers at a point in time. The Company did not have any material contract assets or contract liabilities on the balance sheet as of September 30, 2021. Revenues related to commercial vehicle sales, parts sales, commercial vehicle repair service, finance and the majority of the Company’s other revenues are related to the Truck Segment.