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Revenue and Segment Information | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Revenue and Segment Information | Revenue and Segment Information Revenues from Contracts with Customers Disaggregation of revenue is presented in the tables below by product type and by geographical location. Management has determined that this level of disaggregation would be beneficial to users of the financial statements.
Revenue by Product Type
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
Net Sales |  |  |  |  |  |  |
Wholegoods | $ | 353,670 |  |  | $ | 313,884 |  |  | $ | 683,438 |  |  | $ | 594,827 |
Parts | 72,959 |  |  | 70,825 |  |  | 142,333 |  |  | 138,797 |
Other | 14,065 |  |  | 11,505 |  |  | 26,694 |  |  | 24,595 |
Consolidated | $ | 440,694 |  |  | $ | 396,214 |  |  | $ | 852,465 |  |  | $ | 758,219 |
Other includes rental sales, extended warranty sales and service sales as they are considered immaterial.
Revenue by Geographical Location
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
Net Sales |  |  |  |  |  |  |
United States | $ | 312,314 |  |  | $ | 283,102 |  |  | $ | 603,893 |  |  | $ | 538,289 |
Canada | 37,464 |  |  | 23,276 |  |  | 64,329 |  |  | 43,729 |
France | 25,163 |  |  | 23,671 |  |  | 49,365 |  |  | 46,717 |
United Kingdom | 20,385 |  |  | 17,395 |  |  | 41,989 |  |  | 35,069 |
Brazil | 12,519 |  |  | 14,109 |  |  | 24,032 |  |  | 27,203 |
Netherlands | 9,091 |  |  | 3,862 |  |  | 18,883 |  |  | 7,342 |
Australia | 7,768 |  |  | 5,785 |  |  | 15,550 |  |  | 12,941 |
Germany | 3,103 |  |  | 1,427 |  |  | 5,572 |  |  | 1,758 |
Other | 12,887 |  |  | 23,587 |  |  | 28,852 |  |  | 45,171 |
Consolidated | $ | 440,694 |  |  | $ | 396,214 |  |  | $ | 852,465 |  |  | $ | 758,219 |
Net sales are attributed to countries based on the location of the customer. Segment Information The following includes a summary of the unaudited financial information by reporting segment at June 30, 2023:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
Net Sales |  |  |  |  |  |  |
Vegetation Management | $ | 261,346 |  |  | $ | 255,003 |  |  | $ | 517,781 |  |  | $ | 476,009 |
Industrial Equipment | 179,348 |  |  | 141,211 |  |  | 334,684 |  |  | 282,210 |
Consolidated | $ | 440,694 |  |  | $ | 396,214 |  |  | $ | 852,465 |  |  | $ | 758,219 |
Income from Operations |  |  |  |  |  |  |
Vegetation Management | $ | 35,561 |  |  | $ | 32,796 |  |  | $ | 72,069 |  |  | $ | 51,130 |
Industrial Equipment | 18,831 |  |  | 8,120 |  |  | 31,347 |  |  | 18,905 |
Consolidated | $ | 54,392 |  |  | $ | 40,916 |  |  | $ | 103,416 |  |  | $ | 70,035 |
(in thousands) | June 30, 2023 |  | December 31, 2022
Goodwill |  |  |
Vegetation Management | $ | 128,785 |  |  | $ | 127,562 |
Industrial Equipment | 68,660 |  |  | 68,296 |
Consolidated | $ | 197,445 |  |  | $ | 195,858 |
Total Identifiable Assets |  |  |
Vegetation Management | $ | 973,555 |  |  | $ | 866,974 |
Industrial Equipment | 484,204 |  |  | 441,534 |
Consolidated | $ | 1,457,759 |  |  | $ | 1,308,508 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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