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REVENUE AND SEGMENT REPORTING (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Disaggregation of Revenue by Product Type | Disaggregation of revenue is presented in the tables below by product type. Management has determined that this level of disaggregation would be beneficial to users of the financial statements.
Revenue by Product Type
| December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Net Sales |  |  |  |  |
Wholegoods | $ | 1,287,596 |  |  | $ | 1,347,264 |  |  | $ | 1,185,885 |
Parts | 279,071 |  |  | 286,164 |  |  | 280,261 |
Other * | 61,846 |  |  | 56,223 |  |  | 47,470 |
Consolidated | $ | 1,628,513 |  |  | $ | 1,689,651 |  |  | $ | 1,513,616 |
*Other includes rental sales, extended warranty sales and service sales as it is considered immaterial.
Schedule of Financial Information and Goodwill and Total Identifiable Assets by Reporting Segment |
| Vegetation |  | Industrial |  |
December 31, 2024 (in thousands) | Division |  | Division |  | Consolidated
Net Sales | $ | 785,199 |  |  | $ | 843,314 |  |  | $ | 1,628,513 |
Less: |  |  |  |  |
Cost of Sales | (589,759) |  |  | (626,266) |  |  | (1,216,025) |
Operating Expenses | (138,883) |  |  | (108,797) |  |  | (247,680) |
Income from Operations | 56,557 |  |  | 108,251 |  |  | 164,808 |
Interest Income |  |  |  |  | 2,637 |
Other Income (Expense) |  |  |  |  | 2,731 |
Interest Expense |  |  |  |  | (20,548) |
Income Before Taxes |  |  |  |  | 149,628 |
Taxes |  |  |  |  | 33,698 |
Net Income |  |  |  |  | $ | 115,930 |
| Vegetation |  | Industrial |  |
December 31, 2023 (in thousands) | Division |  | Division |  | Consolidated
Net Sales | $ | 979,040 |  |  | $ | 710,611 |  |  | $ | 1,689,651 |
Less: |  |  |  |  |
Cost of Sales | (699,573) |  |  | (536,434) |  |  | (1,236,007) |
Operating Expenses | (157,383) |  |  | (98,294) |  |  | (255,677) |
Income from Operations | 122,084 |  |  | 75,883 |  |  | 197,967 |
Interest Income |  |  |  |  | 1,485 |
Other Income (Expense) |  |  |  |  | 1,761 |
Interest Expense |  |  |  |  | (26,093) |
Income Before Taxes |  |  |  |  | 175,120 |
Taxes |  |  |  |  | 38,959 |
Net Income |  |  |  |  | $ | 136,161 |
| Vegetation |  | Industrial |  |
December 31, 2022 (in thousands) | Division |  | Division |  | Consolidated
Net Sales | $ | 937,065 |  |  | $ | 576,551 |  |  | $ | 1,513,616 |
Less: |  |  |  |  |
Cost of Sales | (686,669) |  |  | (450,429) |  |  | (1,137,098) |
Operating Expenses | (141,888) |  |  | (86,038) |  |  | (227,926) |
Income from Operations | 108,508 |  |  | 40,084 |  |  | 148,592 |
Interest Income |  |  |  |  | 752 |
Other Income (Expense) |  |  |  |  | (673) |
Interest Expense |  |  |  |  | (14,361) |
Income Before Taxes |  |  |  |  | 134,310 |
Taxes |  |  |  |  | 32,382 |
Net Income |  |  |  |  | $ | 101,928 |
Reconciliation of Assets from Segment to Consolidated | The following table presents the goodwill and total identifiable assets by reporting segment for the years ended December 31, 2024 and 2023:
| December 31,
(in thousands) | 2024 |  | 2023
Goodwill
Vegetation Management | $ | 126,729 |  |  | $ | 128,899 |
Industrial Equipment | 76,298 |  |  | 77,637 |
Consolidated | $ | 203,027 |  |  | $ | 206,536 |
Identifiable Assets
Vegetation Management | $ | 852,007 |  |  | $ | 893,582 |
Industrial Equipment | 598,272 |  |  | 515,804 |
Consolidated | $ | 1,450,279 |  |  | $ | 1,409,386 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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