Quarterly report pursuant to Section 13 or 15(d)

Inventories

v3.21.1
Inventories
3 Months Ended
Mar. 31, 2021
Inventories  
Inventories

5.Inventories

Inventories consist of the following:

March 31,

December 31,

2021

2020

Finished goods

  

$

61,379

  

$

39,496

Work-in-process

7,156

8,253

Raw material and supplies

31,338

31,733

$

99,873

$

79,482

The inventories in the table above do not include truck chassis inventory financed through a floor plan financing agreement, which are recorded separately on the balance sheet. The Company takes title to truck chassis upon receipt of the inventory through its floor plan agreement and performs up-fitting service installations to the truck chassis inventory during the installation period.  The floor plan obligation is then assumed by the dealer customer upon delivery.  At March 31, 2021 and December 31, 2020, the Company had $12,112 and $8,146, respectively, of chassis inventory and $12,029 and $7,885 of related floor plan financing obligation, respectively. The Company recognizes revenue associated with up-fitting and service installations net of the truck chassis.