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Transactions between the Company and Related Parties (Tables)
 6 Months Ended
Jun. 30, 2022
Related Party Transactions [Abstract]  
Schedule of Accounts Receivable and Accounts Payable with Related Parties As of June 30, 2022 and December 31, 2021, the Company had accounts receivable and payable with related parties as shown below:

 

 

 

 

 

June 30, 2022

 

 

December 31, 2021

 

Accounts Receivable

 

Terex (1)

 

$

43

 

 

$

—

 

 

 

RAM P&E (3)

 

 

2

 

 

 

—

 

 

 

 

 

$

45

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

Accounts Payable

 

Terex (1)

 

$

35

 

 

$

23

 

 

 

Tadano (2)

 

 

119

 

 

 

180

 

 

 

 

 

$

154

 

 

$

203

 

Net Related Party Accounts

   Payable

 

 

 

$

109

 

 

$

203

 

 

 

 
Related Party Transactions

The following is a summary of the amounts attributable to certain related party transactions as described in the footnotes to the table, for the periods indicated:

 

 

 

 

 

Three Months Ended

June 30, 2022

 

 

Three Months Ended

June 30, 2021

 

 

Six Months Ended

June 30, 2022

 

 

Six Months Ended

June 30, 2021

 

Rent paid:

 

Rabern Facility (4)

 

$

142

 

 

$

—

 

 

$

142

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales to:

 

Terex (1)

 

$

51

 

 

$

29

 

 

$

90

 

 

$

42

 

 

 

Tadano (2)

 

 

12

 

 

 

12

 

 

 

24

 

 

 

140

 

 

 

RAM P&E (3)

 

 

—

 

 

 

33

 

 

 

27

 

 

 

87

 

 

 

Steven Berner (5)

 

 

80

 

 

 

—

 

 

 

80

 

 

 

—

 

Total Sales

 

 

 

$

143

 

 

$

74

 

 

$

221

 

 

$

269

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchases from:

 

Terex (1)

 

$

70

 

 

$

117

 

 

$

139

 

 

$

233

 

 

 

Tadano (2)

 

 

7

 

 

 

35

 

 

 

137

 

 

 

96

 

Total Purchases

 

 

 

$

77

 

 

$

152

 

 

$

276

 

 

$

329

 

 

(1)

Terex is a significant shareholder of the Company and conducts business with the Company in the ordinary course of business.

 

 

(2)

Tadano is a significant shareholder of the Company and conducts business with the Company in the ordinary course of business.

 

 

(3)

RAM P&E is owned by the Company’s Executive Chairman’s daughter.

 

 

(4)

The Company leases its four Rabern facilities from an entity controlled by Steven Berner, the General Manager of Rabern. Pursuant to the terms of the lease, the Company makes monthly lease payments of $49. The Company is also responsible for all the associated operations expenses, including insurance, property taxes, and repairs. The leases contain up to five additional renewal options of five years each.

 

 

(5)

The Company sold an automobile to Steven Berner, the General Manager of Rabern, for approximately $80 in April 2022, in connection with the Rabern acquisition.