XML 15 R12.htm IDEA: XBRL DOCUMENT v3.19.3
PREPAID EXPENSES
 9 Months Ended
Sep. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
PREPAID EXPENSES PREPAID EXPENSES
Prepaid expenses and other current assets consist of the following (in thousands):
 
September 30,
2019
 
December 31,
2018
Chassis converter pool agreements
$
23,957

 
$
22,273

Assets held for sale
3,009

 
3,039

Income tax receivables
6,487

 
9,872

Insurance premiums & maintenance agreements
10,778

 
3,313

All other
10,616

 
12,764

 
$
54,847

 
$
51,261


Chassis converter pool agreements represent chassis transferred to the Company on a restricted basis by the manufacturer, who retains the sole authority to authorize commencement of work on the chassis and to make certain other decisions with respect to the chassis including the terms and pricing of sales to the manufacturer’s dealers. Assets held for sale are related to the Company’s former branch locations and businesses the Company has sold or intends to sell within one year. Insurance premiums and maintenance agreements are charged to expenses over the contractual life, which is generally one year or less. Additionally, prepaid expenses include contract assets related to contracts for which the Company recognizes revenue over time as services are completed. There is no restricted cash included in prepaid expenses and other current assets for the periods ending September 30, 2019 and December 31, 2018.