Note 8 - Revenue

6 Months Ended

Jun. 30, 2025

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

8 – Revenue

The Company’s non-lease and rental revenues are primarily generated from the sale of finished products to customers. Those sales predominantly contain a single delivery element and revenues from such sales are recognized when the customer obtains control, which is typically when the finished product is delivered to the customer. The Company’s material revenue streams have been identified as the following: the sale of new and used commercial vehicles, arrangement of associated commercial vehicle financing and insurance contracts, the performance of commercial vehicle repair services and the sale of commercial vehicle parts. Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from revenues.  

The following table summarizes the Company’s disaggregated revenue by revenue source, excluding lease and rental revenue, for the three months and six months ended June 30, 2025 and 2024 (in thousands):

	Three Months Ended				Six Months Ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Commercial vehicle sales revenue	$	1,191,504	$	1,300,308	$	2,322,274	$	2,423,627
Parts revenue		372,748		365,032		736,190		738,458
Commercial vehicle repair service revenue		263,510		262,399		519,136		538,169
Finance revenue		2,100		2,387		4,130		4,462
Insurance revenue		3,452		3,550		6,634		6,869
Other revenue		4,269		5,706		9,796		11,875
Total	$	1,837,583	$	1,939,382	$	3,598,160	$	3,723,460

All of the Company's performance obligations and associated revenues are generally transferred to customers at a point in time. The Company did not have any material contract assets or contract liabilities on the balance sheet as of June 30, 2025. Revenues related to commercial vehicle sales, parts sales, commercial vehicle repair service, finance and the majority of other revenues are related to the Truck Segment.