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v3.20.2

Segments (Table) | 6 Months Ended
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Jun. 30, 2020
Segments |
Schedule of assets and profit/loss of the segments | ​
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Three Months Ended | ​ | Three Months Ended | ​ | Six Months Ended | ​ | Six Months Ended | ​
​ | June 30, | ​ | June 30, | ​ | June 30, | ​ | June 30, | ​
​ | ​ | 2020 | ​ | ​ | 2019 | ​ | ​ | 2020 | ​ | ​ | 2019 | ​
Net sales | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Work Truck Attachments | $ | 73,830 | ​ | $ | 112,244 | ​ | $ | 92,950 | ​ | $ | 138,061 | ​
Work Truck Solutions | ​ | 46,213 | ​ | ​ | 64,112 | ​ | ​ | 95,283 | ​ | ​ | 131,482 | ​
​ | $ | 120,043 | ​ | $ | 176,356 | ​ | $ | 188,233 | ​ | $ | 269,543 | ​
Adjusted EBITDA | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Work Truck Attachments | $ | 20,448 | ​ | $ | 38,466 | ​ | $ | 18,372 | ​ | $ | 40,750 | ​
Work Truck Solutions | ​ | (116) | ​ | ​ | 5,644 | ​ | ​ | 245 | ​ | ​ | 12,379 | ​
​ | $ | 20,332 | ​ | $ | 44,110 | ​ | $ | 18,617 | ​ | $ | 53,129 | ​
Depreciation and amortization expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Work Truck Attachments | $ | 2,652 | ​ | $ | 2,522 | ​ | $ | 5,311 | ​ | $ | 5,055 | ​
Work Truck Solutions | ​ | 2,251 | ​ | ​ | 2,277 | ​ | ​ | 4,486 | ​ | ​ | 4,552 | ​
​ | $ | 4,903 | ​ | $ | 4,799 | ​ | $ | 9,797 | ​ | $ | 9,607 | ​
Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Work Truck Attachments | $ | 373,378 | ​ | $ | 374,687 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Work Truck Solutions | ​ | 211,509 | ​ | ​ | 349,189 | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | $ | 584,887 | ​ | $ | 723,876 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capital Expenditures | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Work Truck Attachments | $ | 2,397 | ​ | $ | 3,643 | ​ | $ | 4,255 | ​ | $ | 4,254 | ​
Work Truck Solutions | ​ | 339 | ​ | ​ | 997 | ​ | ​ | 735 | ​ | ​ | 1,074 | ​
​ | $ | 2,736 | ​ | $ | 4,640 | ​ | $ | 4,990 | ​ | $ | 5,328 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of Reconciliation of Operating Profit (Loss) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Adjusted EBITDA | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Work Truck Attachments | $ | 20,448 | ​ | $ | 38,466 | ​ | $ | 18,372 | ​ | $ | 40,750
Work Truck Solutions | ​ | (116) | ​ | ​ | 5,644 | ​ | ​ | 245 | ​ | ​ | 12,379
Total Adjusted EBITDA | $ | 20,332 | ​ | $ | 44,110 | ​ | $ | 18,617 | ​ | $ | 53,129
Less items to reconcile Adjusted EBITDA to Income (Loss) before taxes: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense - net | ​ | 5,662 | ​ | ​ | 4,189 | ​ | ​ | 10,702 | ​ | ​ | 8,339
Depreciation expense | ​ | 2,164 | ​ | ​ | 2,060 | ​ | ​ | 4,320 | ​ | ​ | 4,127
Amortization | ​ | 2,739 | ​ | ​ | 2,739 | ​ | ​ | 5,477 | ​ | ​ | 5,480
Purchase accounting (1) | ​ | (2,000) | ​ | ​ | - | ​ | ​ | (2,017) | ​ | ​ | (217)
Stock based compensation | ​ | 1,201 | ​ | ​ | 1,482 | ​ | ​ | 2,569 | ​ | ​ | 2,536
Impairment charges | ​ | 127,872 | ​ | ​ | - | ​ | ​ | 127,872 | ​ | ​ | -
Debt modification expense | ​ | 3,192 | ​ | ​ | - | ​ | ​ | 3,192 | ​ | ​ | -
COVID-19 (2) | ​ | 848 | ​ | ​ | - | ​ | ​ | 1,165 | ​ | ​ | -
Other charges (3) | ​ | (31) | ​ | ​ | (133) | ​ | ​ | - | ​ | ​ | (149)
Income (loss) before taxes | $ | (121,315) | ​ | $ | 33,773 | ​ | $ | (134,663) | ​ | $ | 33,013
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) - Reflects $2,000 reversal of earn-out compensation acquired in conjunction with the acquisition of Dejana in the periods presented. Reflects $17 and $217 reversal of earn-out compensation in conjunction with the acquisition of Henderson in the six months ended June 30, 2020 and 2019, respectively.
(2) - Reflects incremental costs incurred related to the COVID-19 pandemic for the periods presented.
(3) - Reflects one time, unrelated legal and consulting fees for the periods presented.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
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