Revenue and Segment Information

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
(in thousands)	2023		2022		2023		2022
Net Sales
Wholegoods	$	326,843	$	282,619	$	1,010,281	$	877,446
Parts	78,739		76,047		221,071		214,844
Other	14,062		10,127		40,757		34,722
Consolidated	$	419,644	$	368,793	$	1,272,109	$	1,127,012

Other includes rental sales, extended warranty sales and service sales as they are considered immaterial.

Revenue by Geographical Location
	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2023		2022		2023		2022
Net Sales
United States	$	295,021	$	264,915	$	898,914	$	803,204
Canada	37,720		24,753		102,049		68,482
France	20,959		18,369		70,324		65,086
United Kingdom	19,277		17,613		61,266		52,682
Brazil	13,322		9,688		37,354		36,891
Netherlands	7,720		8,570		26,603		15,912
Australia	6,332		7,513		21,882		20,454
Germany	3,754		2,757		9,326		4,515
Other	15,539		14,615		44,391		59,786
Consolidated	$	419,644	$	368,793	$	1,272,109	$	1,127,012

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 September 30, 2023:  

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2023		2022		2023		2022
Net Sales
Vegetation Management	$	246,902	$	228,511	$	764,683	$	704,520
Industrial Equipment	172,742		140,282		507,426		422,492
Consolidated	$	419,644	$	368,793	$	1,272,109	$	1,127,012
Income from Operations
Vegetation Management	$	30,251	$	27,130	$	102,320	$	78,261
Industrial Equipment	19,502		8,710		50,849		27,614
Consolidated	$	49,753	$	35,840	$	153,169	$	105,875

(in thousands)	September 30, 2023		December 31, 2022
Goodwill
Vegetation Management	$	127,684	$	127,562
Industrial Equipment	68,179		68,296
Consolidated	$	195,863	$	195,858
Total Identifiable Assets
Vegetation Management	$	941,288	$	866,974
Industrial Equipment	514,226		441,534
Consolidated	$	1,455,514	$	1,308,508