XML 18 R2.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash $ 1,200,000  
Accounts receivable, net 137,800,000 $ 101,200,000
Inventories, net 229,000,000 137,200,000
Prepaid expenses and other current assets 13,600,000 5,700,000
Total current assets 381,600,000 244,100,000
PROPERTY AND EQUIPMENT, NET 311,900,000 196,500,000
OTHER ASSETS    
Goodwill 24,300,000 8,600,000
Intangible assets, net 26,300,000 3,000,000
Other assets 2,100,000 2,000,000
Total other assets 52,700,000 13,600,000
TOTAL ASSETS 746,200,000 454,200,000
CURRENT LIABILITIES    
Lines of credit 157,700,000 72,500,000
Current portion of long-term debt 7,800,000 7,100,000
Accounts payable 58,900,000 31,100,000
Customer deposits 9,300,000 7,200,000
Accrued expenses 30,100,000 16,000,000
Other current liabilities 13,100,000 9,300,000
Total current liabilities 434,300,000 343,400,000
LONG-TERM LIABILITIES    
Long-term debt, net of current portion 135,000,000 86,500,000
Capital lease obligations, net of current portion 600,000 1,400,000
Buyback residual obligations, net of current portion 700,000 700,000
Guaranteed purchase obligation, net of current portion 6,900,000 9,000,000
Lease liability, net of current portion 2,500,000 3,700,000
Other liabilities 9,300,000 3,100,000
Warrant liability 0 29,600,000
TOTAL LIABILITIES 589,300,000 477,400,000
STOCKHOLDERS’ EQUITY (DEFICIT)    
Preferred stock, $0.0001 par value, 1,000,000 shares authorized, 1,200,000 Depositary Shares representing a 1/1000th fractional interest in a share of 10% Series A Cumulative Perpetual Preferred Stock, $0.0001 par value per share, issued and outstanding at December 31, 2020, no shares issued and outstanding at December 31, 2019
Additional paid-in capital 216,200,000  
Treasury stock 5,900,000  
Accumulated deficit (53,400,000) (23,200,000)
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT) 156,900,000 (23,200,000)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) 746,200,000 454,200,000
New Equipment    
CURRENT LIABILITIES    
Floor plan payable 127,600,000 87,700,000
Used and Rental Equipment    
CURRENT LIABILITIES    
Floor plan payable $ 29,800,000 $ 112,500,000