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Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

1 – Principles of Consolidation and Basis of Presentation

The interim consolidated financial statements included herein have been prepared by Rush Enterprises, Inc. and its subsidiaries (collectively referred to as the “Company”), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). All adjustments have been made to the accompanying interim consolidated financial statements, which, in the opinion of the Company’s management, are necessary for a fair presentation of its operating results. All adjustments are of a normal recurring nature. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. It is recommended that these interim consolidated financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. Results of operations for interim periods are not necessarily indicative of results that may be expected for any other interim periods or the full fiscal year.

Adoption of New Accounting Pronouncements

Accounting Standards Update ("ASU") No. 2016-13, “Financial Instruments - Credit Losses (“Topic 326”): Measurement of Credit Losses on Financial Instruments,” was issued in June 2016. Under Topic 326, existing guidance on reporting credit losses for trade and other receivables, held-to-maturity debt securities, and other instruments have been replaced with a new forward-looking "expected loss" model that has resulted in the earlier recognition of allowances for losses. Under Topic 326, the Company is required to use a current expected credit loss (“CECL”) model that immediately recognizes an estimate of credit losses that are expected to occur over the life of the financial instruments that are in the scope of the update. The CECL model uses a broader range of reasonable and supportable information in the development of credit loss estimates. The Company adopted Topic 326 during the quarter ended March 31, 2020, and the new standard did not result in a material impact on its consolidated financial statements. For a complete discussion of accounting for credit losses, see Note 13 – Accounts Receivable and Allowance for Credit Losses of the Notes to Consolidated Financial Statements.

COVID-19 Risks and Uncertainties

In March 2020, the World Health Organization declared the disease caused by the novel strain of coronavirus (“COVID-19”) a global pandemic, and the President of the United States declared the COVID-19 outbreak a national emergency. The Company’s nationwide network of commercial vehicle dealerships are classified as “essential businesses” and have remained operational across the Company’s dealership network. The Company is monitoring the COVID-19 pandemic, and although operations were not materially affected as of the quarter ended March 31, 2020, the Company is unable to predict the impact that the COVID-19 pandemic will have on its future business and operating results due to numerous uncertainties, including the duration and severity of the outbreak.

Note 2 - Other Assets

3 Months Ended

Mar. 31, 2020

Other Assets Disclosure [Text Block]

2 – Other Assets

ERP Platform

The total capitalized costs of the Company’s SAP enterprise resource planning software platform (“the ERP Platform”) of $8.4 million are recorded on the Consolidated Balance Sheet in Other Assets. Amortization expense relating to the ERP Platform, which is recognized in depreciation and amortization expense in the Consolidated Statements of Income and Comprehensive Income, was $0.5 million for the three months ended March 31, 2020 and $0.5 million for the three months ended March 31, 2019. The Company estimates that amortization expense relating to the ERP Platform will be approximately $1.5 million for the next year and $1.2 million for each of the next four years.

Franchise Rights

The Company’s only significant identifiable intangible assets, other than goodwill, are rights under franchise agreements with manufacturers. The fair value of the franchise right is determined at the acquisition date by discounting the projected cash flows specific to each acquisition. The carrying value of the Company’s manufacturer franchise rights was $7.0 million as of March 31, 2020 and December 31, 2019, and is included in Other Assets on the accompanying Consolidated Balance Sheet. The Company has determined that manufacturer franchise rights have an indefinite life, as there are no economic or other factors that limit their useful lives and they are expected to generate cash flows indefinitely due to the historically long lives of the manufacturers’ brand names. Furthermore, to the extent that any agreements evidencing manufacturer franchise rights have expiration dates, the Company expects that it will be able to renew those agreements in the ordinary course of business. Accordingly, the Company does not amortize manufacturer franchise rights.

Due to the fact that manufacturer franchise rights are specific to geographic region, the Company has determined that evaluating and including all locations acquired in the geographic region is the appropriate level for purposes of testing franchise rights for impairment. Management reviews indefinite-lived manufacturer franchise rights for impairment annually during the fourth quarter, or more often if events or circumstances indicate that an impairment may have occurred. The Company is subject to financial statement risk to the extent that manufacturer franchise rights become impaired due to decreases in the fair market value of its individual franchises.

The significant estimates and assumptions used by management in assessing the recoverability of manufacturer franchise rights include estimated future cash flows, present value discount rate and other factors. Any changes in these estimates or assumptions could result in an impairment charge. The estimates of future cash flows, based on reasonable and supportable assumptions and projections, require management’s subjective judgment. Depending on the assumptions and estimates used, the estimated future cash flows projected in the evaluations of manufacturer franchise rights can vary within a range of outcomes.

No impairment write down was required in the period presented. The Company cannot predict the occurrence of certain events that might adversely affect the reported value of manufacturer franchise rights in the future.

Equity Method Investment and Call Option

On February 25, 2019, the Company acquired 50% of the equity interest in Rush Truck Centres of Canada Limited (“RTC Canada”), which acquired the operating assets of Tallman Group, the largest International Truck dealer in Canada. The Company was also granted a call option in the purchase agreement that provides the Company with the right to acquire the remaining 50% equity interest in RTC Canada until the close of business on February 25, 2024. The value of the Company’s call option was $3.6 million as of March 31, 2020, and is reported in Other Assets on the Consolidated Balance Sheet.

On April 25, 2019, the Company entered into a Guaranty Agreement (“Guaranty”) with Bank of Montreal (“BMO”), pursuant to which the Company agreed to guaranty up to CAD250 million (the “Guaranty Cap”) of certain credit facilities entered into by and between Tallman Truck Centre Limited (“TTCL”) and BMO. The Company owned a 50% equity interest in TTCL, which was the sole owner of RTC Canada. Later in 2019, RTC Canada and TTCL were amalgamated into RTC Canada. Interest, fees and expenses incurred by BMO to enforce its rights with respect to the guaranteed obligations and its rights against the Company under the Guaranty are not subject to the Guaranty Cap. In exchange for the Guaranty, RTC Canada is receiving a reduced rate of interest on its credit facilities with BMO. The Guaranty was valued at $4.7 million as of March 31, 2020 and December 31, 2019 and is included in the investment in RTC Canada. As of March 31, 2020, the Company’s investment in RTC Canada is $24.4 million. The Company’s equity income in RTC Canada is included in Other income on the Consolidated Statements of Income.

Note 3 - Goodwill

3 Months Ended

Mar. 31, 2020

Goodwill Disclosure [Text Block]

3 – Goodwill

The Company applies a fair value-based impairment test to the carrying value of goodwill on an annual basis in the fourth quarter, and if certain events or circumstances indicate that an impairment loss may have been incurred, on an interim basis. Due to the COVID-19 pandemic, the Company quantitatively assessed whether it was more likely than not that goodwill was impaired as of March 31, 2020. The Company reviewed its previous estimates and assumptions based on its current projections that are subject to various risks and uncertainties, including estimated revenues, expenses and cash flows, in addition to the duration of the COVID-19 pandemic. Based on the Company’s interim impairment assessment as of March 31, 2020, it has determined that its goodwill is not impaired. However, the Company is unable to predict how long its business will be affected by the COVID-19 pandemic, what additional measures may be introduced by governments or what effect any such additional measures may have on its business.

Note 4 - Commitments and Contingencies

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Text Block]

4 – Commitments and Contingencies

From time to time, the Company is involved in litigation arising out of its operations in the ordinary course of business. The Company maintains liability insurance, including product liability coverage, in amounts deemed adequate by management. To date, aggregate costs to the Company for claims, including product liability actions, have not been material. However, an uninsured or partially insured claim, or claim for which indemnification is not available, could have a material adverse effect on the Company’s financial condition or results of operations. The Company believes that there are no claims or litigation pending, the outcome of which could have a material adverse effect on its financial position or results of operations. However, due to the inherent uncertainty of litigation, there can be no assurance that the resolution of any particular claim or proceeding would not have a material adverse effect on the Company’s financial condition or results of operations for the fiscal period in which such resolution occurred.

Note 5 - Earnings Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Text Block]

5 – Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):

	Three Months Ended March 31,
	2020		2019
Numerator:
Numerator for basic and diluted earnings per share –
Net income available to common shareholders	$	23,107	$	37,104
Denominator:
Denominator for basic earnings per share – weighted average shares outstanding		36,485		36,817
Effect of dilutive securities–
Employee and director stock options and restricted share awards		841		1,017
Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions		37,326		37,834
Basic earnings per common share	$	0.63	$	1.01
Diluted earnings per common share and common share equivalents	$	0.62	$	0.98

Options to purchase shares of common stock that were outstanding for the three months ended March 31, 2020 and 2019 that were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive are as follows (in thousands):

March 31,

2020

March 31,

2019

Weighted average anti-dilutive options

1,194

974

Note 6 - Stock Options and Restricted Stock Awards

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Text Block]

6 – Stock Options and Restricted Stock Awards

Valuation and Expense Information

The Company accounts for stock-based compensation in accordance with ASC 718-10, “Compensation – Stock Compensation,” which requires the measurement and recognition of compensation expense for all share-based payment awards made to our employees and directors, including employee stock options, restricted stock unit awards, restricted stock awards and employee stock purchases related to the Employee Stock Purchase Plan based on estimated fair values.

Stock-based compensation expense, calculated using the Black-Scholes option-pricing model for employee stock options and included in selling, general and administrative expense, was $8.6 million for the three months ended March 31, 2020, and $8.8 million for the three months ended March 31, 2019.

As of March 31, 2020, the Company had $11.0 million of unrecognized compensation cost related to non-vested employee stock options to be recognized over a weighted-average period of 2.5 years and $13.4 million of unrecognized compensation cost related to non-vested restricted stock units and restricted stock awards to be recognized over a weighted-average period of 1.6 years.

Note 7 - Financial Instruments and Fair Value

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Text Block]

7 – Financial Instruments and Fair Value

The Company measures certain financial assets and liabilities at fair value on a recurring basis. Financial instruments consist primarily of cash, accounts receivable, accounts payable and floor plan notes payable. The carrying values of the Company’s financial instruments approximate fair value due either to their short-term nature or existence of variable interest rates, which approximate market rates. Certain methods and assumptions were used by the Company in estimating the fair value of financial instruments at March 31, 2020, and December 31, 2019. The carrying value of current assets and current liabilities approximates the fair value due to the short maturity of these items.

The fair value of the Company’s long-term debt is based on secondary market indicators. Because the Company’s debt is not quoted, estimates are based on each obligation’s characteristics, including remaining maturities, interest rate, credit rating, collateral and liquidity. Accordingly, the Company concluded that the valuation measurement inputs of its long-term debt represent, at its lowest level, current market interest rates available to the Company for similar debt and the Company’s current credit standing. The carrying amount of such debt approximates fair value.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Note 8 - Segment Information

3 Months Ended

Mar. 31, 2020

Segment Reporting Disclosure [Text Block]

8 – Segment Information

The Company currently has one reportable business segment - the Truck Segment. The Truck Segment includes the Company’s operation of a nationwide network of commercial vehicle dealerships that provide an integrated one-stop source for the commercial vehicle needs of its customers, including retail sales of new and used commercial vehicles; aftermarket parts, service and collision center facilities; and financial services, including the financing of new and used commercial vehicle purchases, insurance products and truck leasing and rentals. The commercial vehicle dealerships are deemed a single reporting unit because they have similar economic characteristics. The Company’s chief operating decision maker considers the entire Truck Segment, not individual dealerships or departments within its dealerships, when making decisions about resources to be allocated to the segment and assessing its performance.

The Company also has revenues attributable to three other operating segments. These segments include a retail tire company, an insurance agency and a guest ranch operation and are included in the All Other column below. None of these segments has ever met any of the quantitative thresholds for determining reportable segments.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company evaluates performance based on income before income taxes, not including extraordinary items.

The following table contains summarized information about reportable segment revenues, segment income or loss from continuing operations and segment assets for the periods ended March 31, 2020 and 2019 (in thousands):

	Truck Segment		All Other			Totals

As of and for the three months ended March 31, 2020
Revenues from external customers	$	1,283,379	$	3,284		$	1,286,663
Segment operating income (loss)		35,451		(254	)		35,197
Segment income (loss) before taxes		31,993		(324	)		31,669
Segment assets		3,203,704		38,954			3,242,658

As of and for the three months ended March 31, 2019
Revenues from external customers	$	1,344,449	$	3,868		$	1,348,317
Segment operating income		56,742		125			56,867
Segment income before taxes		49,505		53			49,558
Segment assets		3,384,441		37,585			3,422,026

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Note 9 - Income Taxes

3 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Text Block]

9 – Income Taxes

The Company had unrecognized income tax benefits totaling $3.0 million as a component of accrued liabilities as of March 31, 2020 and December 31, 2019, the total of which, if recognized, would impact the Company’s effective tax rate. An unfavorable settlement may require a charge to income tax expense and a favorable resolution would be recognized as a reduction to income tax expense. The Company recognizes interest accrued related to unrecognized tax benefits in income tax expense. The Company had approximately $144,000 accrued for the payment of interest as of March 31, 2020 and December 31, 2019. No amounts were accrued for penalties.

The Company does not anticipate a significant change in the amount of unrecognized tax benefits in the next 12 months. As of March 31, 2020, the tax years ended December 31, 2016 through 2019 remained subject to audit by federal tax authorities, and the tax years ended December 31, 2015 through 2019 remained subject to audit by state tax authorities.

Coronavirus Aid, Relief, and Economic Security Act (the CARES Act)

In response to the COVID-19 pandemic, on March 27, 2020, President Donald Trump signed into law the CARES Act. The Company evaluated the provisions of the CARES Act as of March 31, 2020, with no material effect on the financial statements. Certain tax provisions may result in deferral of payment of certain taxes.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Note 10 - Revenue

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Text Block]

10 – Revenue

The Company’s revenues are primarily generated from the sale of finished products to customers. Those sales predominantly contain a single delivery element and revenue for such sales is 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 for the three months ended March 31, 2020 and 2019 (in thousands):

	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Commercial vehicle sales revenue	$	789,554	$	838,283
Parts revenue		236,597		247,317
Commercial vehicle repair service revenue		191,381		191,037
Finance revenue		2,355		4,095
Insurance revenue		2,112		2,515
Other revenue		3,883		5,637
Total	$	1,225,882	$	1,288,884

All of the Company's performance obligations and associated revenues are generally transferred to customers at a point in time. The Company does not have any material contract assets or contract liabilities on the balance sheet as of March 31, 2020. 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.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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Note 11 - Leases

3 Months Ended

Mar. 31, 2020

Leases of Lessee and Lessor Disclosure [Text Block]

11 – Leases

Lease of Vehicles as Lessor

The Company leases commercial vehicles that the Company owns to customers primarily over periods of one to ten years. The Company does not separate lease and nonlease components. Nonlease components typically consist of maintenance and licensing for the commercial vehicle. The variable nonlease components are generally based on mileage. Some leases contain an option for the lessee to purchase the commercial vehicle.

The Company’s policy is to depreciate its lease and rental fleet using a straight-line method over each customer’s contractual lease term. The lease unit is depreciated to a residual value that approximates fair value at the expiration of the lease term. This policy results in the Company realizing reasonable gross margins while the unit is in service and a corresponding gain or loss on sale when the unit is sold at the end of the lease term.

Sales-type leases are recognized by the Company as lease receivables. The lessee obtains control of the underlying asset and the Company recognizes sales revenue upon lease commencement. The receivable for sales-type leases as of March 31, 2020, in the amount of $5.2 million and as of December 31, 2019, in the amount of $5.6 million is reflected in Other Assets on the Consolidated Balance Sheet.

Rental income during the three months ended March 31, 2020 and March 31, 2019 consisted of the following (in thousands):

Three Months

Ended

March 31, 2020

Three Months

Ended

March 31, 2019

Minimum rental payments
$ 53,172 $ 51,743

Nonlease payments
7,609 7,690

Total
$ 60,781 $ 59,433

Note 12 - Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2020

Comprehensive Income (Loss) Note [Text Block]

12 – Accumulated Other Comprehensive Income

The following table shows the components of accumulated other comprehensive loss (in thousands):

Balance as of December 31, 2019	$	337
Foreign currency translation adjustment		(1,930	)
Balance as of March 31, 2020	$	(1,593	)

The equity method investment in RTC Canada was valued using the exchange rate of one US Dollar equals 1.4191 Canadian dollars as of March 31, 2020. The adjustment is reflected in Other Assets on the Consolidated Balance Sheet.

Note 13 - Accounts Receivable and Allowance for Credit Losses

3 Months Ended

Mar. 31, 2020

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

13 – Accounts Receivable and Allowance for Credit Losses

The Company adopted Topic 326 on January 1, 2020. The Company did not recognize an adjustment to the beginning balance of retained earnings because the new accounting standard did not have a material impact on its consolidated financial statements. The Company establishes an allowance for credit losses to present the net amount of accounts receivable expected to be collected. Under Topic 326, the Company is required to remeasure expected credit losses for financial instruments held on the reporting date based on historical experience, current conditions and reasonable forecasts.

Accounts receivable consists primarily of commercial vehicle sales, manufacturers’ receivables, leasing and parts and service receivables and other trade receivables. The Company maintains an allowance for credit losses based on probability of default, historical rate losses, aging and economic conditions. The Company’s assessment of future losses in the first quarter of 2020 considered the impact of the COVID-19 pandemic on forecasted economic trends. The Company writes off account balances when it has exhausted reasonable collection efforts and determined that the likelihood of collection is remote. These write-offs are charged against the allowance for credit losses.

The following table summarizes the changes in the allowance for credit losses (in thousands):

	Balance December 31, 2019		Current Period Provision		Write offs Against Allowance, net of Recoveries			Balance March 31, 2020

Commercial vehicle receivables	$	11	$	171	$	(11	)	$	171
Manufacturers’ receivables		410		270		(443	)		237
Leasing, Parts and Service receivables		989		864		(641	)		1,212
Other receivables		14		47		(2	)		59
Total	$	1,424	$	1,352	$	(1,097	)	$	1,679

Note 5 - Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Three Months Ended March 31,
	2020		2019
Numerator:
Numerator for basic and diluted earnings per share –
Net income available to common shareholders	$	23,107	$	37,104
Denominator:
Denominator for basic earnings per share – weighted average shares outstanding		36,485		36,817
Effect of dilutive securities–
Employee and director stock options and restricted share awards		841		1,017
Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions		37,326		37,834
Basic earnings per common share	$	0.63	$	1.01
Diluted earnings per common share and common share equivalents	$	0.62	$	0.98

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

March 31,

2020

March 31,

2019

Weighted average anti-dilutive options

1,194

974

Note 8 - Segment Information (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Truck Segment		All Other			Totals

As of and for the three months ended March 31, 2020
Revenues from external customers	$	1,283,379	$	3,284		$	1,286,663
Segment operating income (loss)		35,451		(254	)		35,197
Segment income (loss) before taxes		31,993		(324	)		31,669
Segment assets		3,203,704		38,954			3,242,658

As of and for the three months ended March 31, 2019
Revenues from external customers	$	1,344,449	$	3,868		$	1,348,317
Segment operating income		56,742		125			56,867
Segment income before taxes		49,505		53			49,558
Segment assets		3,384,441		37,585			3,422,026

Note 10 - Revenue (Tables)

3 Months Ended

Mar. 31, 2020

Disaggregation of Revenue [Table Text Block]

	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Commercial vehicle sales revenue	$	789,554	$	838,283
Parts revenue		236,597		247,317
Commercial vehicle repair service revenue		191,381		191,037
Finance revenue		2,355		4,095
Insurance revenue		2,112		2,515
Other revenue		3,883		5,637
Total	$	1,225,882	$	1,288,884

Note 11 - Leases (Tables)

3 Months Ended

Mar. 31, 2020

Leases, Lease Income [Table Text Block]

	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Minimum rental payments	$	53,172	$	51,743
Nonlease payments		7,609		7,690
Total	$	60,781	$	59,433

Note 12 - Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Balance as of December 31, 2019	$	337
Foreign currency translation adjustment		(1,930	)
Balance as of March 31, 2020	$	(1,593	)

Note 13 - Accounts Receivable and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2020

Financing Receivable, Allowance for Credit Loss [Table Text Block]

	Balance December 31, 2019		Current Period Provision		Write offs Against Allowance, net of Recoveries			Balance March 31, 2020

Commercial vehicle receivables	$	11	$	171	$	(11	)	$	171
Manufacturers’ receivables		410		270		(443	)		237
Leasing, Parts and Service receivables		989		864		(641	)		1,212
Other receivables		14		47		(2	)		59
Total	$	1,424	$	1,352	$	(1,097	)	$	1,679

Note 2 - Other Assets (Details Textual) $ in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2019 USD ($)	Apr. 25, 2019 CAD ($)	Feb. 25, 2019
Capitalized Computer Software, Net, Ending Balance	$ 8,400
Capitalized Computer Software, Amortization	500	$ 500
Indefinite-Lived Franchise Rights	7,000
Goodwill and Intangible Asset Impairment, Total	0
Financial Guarantee [Member]
Guarantor Obligations, Maximum Exposure, Undiscounted				$ 250
Other Noncurrent Liabilities [Member] \| Financial Guarantee [Member]
Guarantor Obligations, Current Carrying Value	4,700		$ 4,700
Rush Truck Centres of Canada Limited [Member]
Equity Method Investment, Ownership Percentage					50.00%
Rush Truck Centres of Canada Limited [Member] \| Other Assets [Member]
Equity Method Investments	24,400
Rush Truck Centres of Canada Limited [Member] \| Call Option [Member]
Equity Method Investment, Remaining Ownership Percentage Not Yet Acquired					50.00%
Rush Truck Centres of Canada Limited [Member] \| Call Option [Member] \| Other Assets [Member]
Call Option, Fair Value Disclosure	3,600
Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year	1,500
Finite-Lived Intangible Asset, Expected Amortization, Year Two	$ 1,200

Note 3 - Goodwill (Details Textual) $ in Thousands	3 Months Ended
Note 3 - Goodwill (Details Textual) $ in Thousands	Mar. 31, 2020 USD ($)
Goodwill, Impairment Loss	$ 0

Note 5 - Earnings Per Share - Earnings Per Share Calculation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net income available to common shareholders	$ 23,107	$ 37,104
Denominator for basic earnings per share – weighted average shares outstanding (in shares)	36,485	36,817
Employee and director stock options and restricted share awards (in shares)	841	1,017
Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions (in shares)	37,326	37,834
Basic earnings per common share (in dollars per share)	$ 0.63	$ 1.01
Diluted earnings per common share and common share equivalents (in dollars per share)	$ 0.62	$ 0.98

Amount after tax of income (loss) from continuing operations attributable to the parent.

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Note 5 - Earnings Per Share - Anti-dilutive Securities (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Weighted average anti-dilutive options (in shares)	1,194	974

Note 6 - Stock Options and Restricted Stock Awards (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 11.0
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	2 years 6 months
Share-based Payment Arrangement, Option [Member] \| Selling, General and Administrative Expenses [Member]
Share-based Payment Arrangement, Expense	$ 8.6	$ 8.8
Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 13.4
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year 7 months 6 days

Note 8 - Segment Information (Details Textual)	3 Months Ended
Note 8 - Segment Information (Details Textual)	Mar. 31, 2020
Truck Segment [Member]
Number of Reportable Segments	1
Other Segments [Member]
Number of Operating Segments	3

Note 8 - Segment Information - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Revenues from external customers	$ 1,286,663	$ 1,348,317
Segment operating income (loss)	35,197	56,867
Segment income (loss) before taxes	31,669	49,558
Segment assets	3,242,658	3,422,026	$ 3,407,329
Truck Segment [Member]
Revenues from external customers	1,283,379	1,344,449
Segment operating income (loss)	35,451	56,742
Segment income (loss) before taxes	31,993	49,505
Segment assets	3,203,704	3,384,441
Other Segments [Member]
Revenues from external customers	3,284	3,868
Segment operating income (loss)	(254)	125
Segment income (loss) before taxes	(324)	53
Segment assets	$ 38,954	$ 37,585

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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Note 9 - Income Taxes (Details Textual)	3 Months Ended
Note 9 - Income Taxes (Details Textual)	Mar. 31, 2020 USD ($)
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 3,000,000.0
Unrecognized Tax Benefits, Interest on Income Taxes Accrued	144,000
Unrecognized Tax Benefits, Income Tax Penalties Accrued	$ 0
Domestic Tax Authority [Member]
Open Tax Year	2016 2017 2018 2019
State and Local Jurisdiction [Member]
Open Tax Year	2015 2016 2017 2018 2019

Note 10 - Revenue - Disaggregated Revenue by Revenue Source (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue	$ 1,225,882	$ 1,288,884
Commercial Vehicle [Member]
Revenue	789,554	838,283
Parts [Member]
Revenue	236,597	247,317
Commercial Vehicle Repair Service [Member]
Revenue	191,381	191,037
Financial Service [Member]
Revenue	2,355	4,095
Insurance [Member]
Revenue	2,112	2,515
Product and Service, Other [Member]
Revenue	$ 3,883	$ 5,637

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Note 11 - Leases (Details Textual) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Sales-type Lease, Lease Receivable	$ 5.2	$ 5.6
Minimum [Member]
Lessee, Operating Lease, Term of Contract (Year)	1 year
Maximum [Member]
Lessee, Operating Lease, Term of Contract (Year)	10 years

Note 11 - Leases - Rental Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Minimum rental payments	$ 53,172	$ 51,743
Nonlease payments	7,609	7,690
Total	$ 60,781	$ 59,433

Note 12 - Accumulated Other Comprehensive Income (Details Textual)	Mar. 31, 2020
Rush Truck Centres of Canada Limited [Member]
Foreign Currency Exchange Rate, Translation	1.4191

Note 12 - Accumulated Other Comprehensive Income - Components of Accumulated Other Comprehensive Income (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($)
Balance	$ 1,159,493
Balance	1,165,476
AOCI Attributable to Parent [Member]
Balance	337
Foreign currency translation adjustment	(1,930)
Balance	$ (1,593)