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Note 9 - Revenue
 6 Months Ended
Jun. 30, 2022
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, excluding lease and rental revenue, for the three months and six months ended June 30, 2022 and 2021 (in thousands):

 

  

Three Months Ended

  

Six Months Ended

 
  

June 30, 2022

  

June 30, 2021

  

June 30, 2022

  

June 30, 2021

 
                 

Commercial vehicle sales revenue

 $1,098,255  $797,269  $2,033,974  $1,544,988 

Parts revenue

  361,562   263,491   692,304   503,927 

Commercial vehicle repair service revenue

  236,736   182,035   449,257   357,336 

Finance revenue

  4,578   4,549   9,067   8,453 

Insurance revenue

  3,177   2,858   6,213   5,419 

Other revenue

  6,395   4,417   11,755   8,075 

Total

 $1,710,703  $1,254,619  $3,202,570  $2,428,198 

 

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 June 30, 2022 or December 31, 2021. 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.