Quarterly report pursuant to Section 13 or 15(d)

Note 5 - Inventories

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Note 5 - Inventories
6 Months Ended
Jun. 30, 2023
Notes to Financial Statements  
Inventory Disclosure [Text Block]

5.

Inventories

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Inventories consist of the following: ​

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June 30,

   

December 31,

 
   

2023

   

2022

 
                 

Finished goods

  $ 83,347     $ 67,006  

Work-in-process

    17,501       19,037  

Raw material and supplies

    48,064       50,458  
    $ 148,912     $ 136,501  

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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.  During the fourth quarter of 2021, a separate financing agreement was entered into that does not pass title of the truck chassis upon receipt of the inventory. As a result, most of the floor plan truck chassis previously recorded on the balance sheet fall under this new financing agreement, and only the trucks still covered under the previous floor plan financing agreement remain on the balance sheet. At June 30, 2023 and December 31, 2022, the Company had $5,264 and $1,211, respectively, of chassis inventory and $5,264 and $1,211 of related floor plan financing obligation, respectively. The Company recognizes revenue associated with up-fitting and service installations net of the truck chassis.

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