0001437749-23-004391 | 10-K | XBRL Viewer

Print Document View Excel Document

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2022	Feb. 14, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	0-20797
Entity Registrant Name	RUSH ENTERPRISES, INC.
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	74-1733016
Entity Address, Address Line One	555 IH 35 South
Entity Address, City or Town	New Braunfels
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78130
City Area Code	830
Local Phone Number	302-5200
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 2,038,811,607
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	San Antonio, Texas
Entity Central Index Key	0001012019
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Class A [Member]
Document Information [Line Items]
Title of 12(b) Security	Class A Common Stock, $0.01 par value
Trading Symbol	RUSHA
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding (in shares)		42,307,824
Common Class B [Member]
Document Information [Line Items]
Title of 12(b) Security	Class B Common Stock, $0.01 par value
Trading Symbol	RUSHB
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding (in shares)		12,066,301

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 201,044	$ 148,146
Accounts receivable, net	220,651	140,186
Inventories, net	1,429,429	1,020,136
Prepaid expenses and other	16,619	15,986
Total current assets	1,867,743	1,324,454
Property and equipment, net	1,368,594	1,278,207
Operating lease right-of-use assets, net	102,685	69,008
Goodwill, net	416,363	370,331
Other assets, net	65,681	77,977
Total assets	3,821,066	3,119,977
Current liabilities:
Floor plan notes payable	933,203	630,731
Current maturities of finance lease obligations	29,209	26,695
Current maturities of operating lease obligations	15,003	12,096
Trade accounts payable	171,717	122,291
Customer deposits	116,240	80,561
Accrued expenses	163,302	131,130
Total current liabilities	1,428,674	1,003,504
Long-term debt, net of current maturities	275,433	334,926
Finance lease obligations, net of current maturities	93,483	89,835
Operating lease obligations, net of current maturities	89,029	57,976
Other long-term liabilities	19,455	26,514
Deferred income taxes, net	$ 151,970	$ 140,473
Shareholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2022 and 2021	$ 0	$ 0
Common stock, par value $.01 per share; 60,000,000 Class A shares and 20,000,000 Class B shares authorized; 42,345,361 Class A shares and 12,083,085 Class B shares outstanding in 2022; and 43,107,867 Class A shares and 12,398,606 Class B shares outstanding in 2021	572	563
Additional paid-in capital	500,642	470,750
Treasury stock, at cost: 1,626,777 Class A shares and 1,112,446 Class B shares in 2022; and 339,786 Class A shares and 492,052 Class B shares in 2021	(130,930)	(36,933)
Retained earnings	1,378,337	1,031,582
Accumulated other comprehensive income (loss)	(4,130)	787
Total Rush Enterprises, Inc. shareholders’ equity	1,744,491	1,466,749
Noncontrolling interest	18,531	0
Total shareholders’ equity	1,763,022	1,466,749
Total liabilities and shareholders’ equity	$ 3,821,066	$ 3,119,977
Common Class A [Member]
Shareholders’ equity:
Treasury stock (in shares)	1,626,777	339,786

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Class A [Member]
Common stock, authorized (in shares)	60,000,000	60,000,000
Common stock, outstanding (in shares)	42,345,361	43,107,867
Treasury stock (in shares)	1,626,777	339,786
Common Class B [Member]
Common stock, authorized (in shares)	20,000,000	20,000,000
Common stock, outstanding (in shares)	12,083,085	12,398,606
Treasury stock (in shares)	1,112,446	492,052

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Revenue	$ 6,779,413	$ 4,878,908	$ 4,499,717
Lease and rental sales	322,257	247,234	236,223
Total revenue	7,101,668	5,126,142	4,735,940
Cost of products sold
Lease and rental sales	221,804	188,093	202,412
Total cost of products sold	5,614,511	4,033,844	3,860,473
Gross profit	1,487,159	1,092,298	875,467
Selling, general and administrative	927,836	731,340	665,258
Depreciation and amortization	55,665	53,354	57,456
Gain on sale of assets	2,455	1,432	1,852
Operating income	506,113	309,036	154,605
Other income	22,338	6,417	6,132
Interest income (expense):
Interest income	639	657	713
Interest expense	(19,763)	(2,427)	(9,727)
Total interest expense, net	(19,124)	(1,770)	(9,014)
Income before taxes	509,327	313,683	151,723
Income tax provision	117,242	72,268	36,836
Net income	392,085	241,415	114,887
Less: Net income attributable to noncontrolling interest	703	0	0
Net income attributable to Rush Enterprises, Inc.	$ 391,382	$ 241,415	$ 114,887
Net income attributable to Rush Enterprises, Inc. per share of common stock:
Basic (in dollars per share)	$ 7.06	$ 4.32	$ 2.09
Diluted (in dollars per share)	6.85	4.17	2.04
Dividends declared per common share (in dollars per share)	$ 0.80	$ 0.74	$ 0.41
New and Used Commercial Vehicle [Member]
Revenues
Revenue	$ 4,351,370	$ 3,039,953	$ 2,863,309
Cost of products sold
Cost of products sold	3,937,091	2,736,502	2,641,487
Parts and Service [Member]
Revenues
Revenue	2,372,439	1,793,363	1,600,445
Cost of products sold
Cost of products sold	1,455,616	1,109,249	1,016,574
Finance and Insurance [Member]
Revenues
Revenue	29,741	27,964	21,949
Product and Service, Other [Member]
Revenues
Revenue	$ 25,863	$ 17,628	$ 14,014

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	11 Months Ended	12 Months Ended
	Dec. 12, 2022	Dec. 31, 2021	Dec. 31, 2020
Net income	$ 392,085	$ 241,415	$ 114,887
Other comprehensive income (loss), net of tax:
Foreign currency translation	(4,316)	(82)	532
Reclassification of currency translation related to equity method accounting	(601)	0	0
Other comprehensive income (loss) attributable to Rush Enterprises, Inc.	(4,917)	(82)	532
Comprehensive income	387,168	241,333	115,419
Less: Comprehensive income attributable to noncontrolling interest	703	0	0
Comprehensive income attributable to Rush Enterprises, Inc.	$ 386,465	$ 241,333	$ 115,419

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI https://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3000-108585

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI https://asc.fasb.org/extlink&oid=126929396&loc=SL4569616-111683

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI https://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 23: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 29: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI https://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 31: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI https://asc.fasb.org/extlink&oid=120409616&loc=SL4591551-111686

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI https://asc.fasb.org/extlink&oid=120409616&loc=SL4591552-111686

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

+ Details

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Common Stock [Member] Common Class A [Member]	Common Stock [Member] Common Class B [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member] Common Class A [Member]	Retained Earnings [Member] Common Class B [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Parent [Member] Common Class A [Member]	Parent [Member] Common Class B [Member]	Parent [Member]	Noncontrolling Interest [Member]	Common Class A [Member]	Common Class B [Member]	Total
Balance (in shares) at Dec. 31, 2019	41,930,000	12,360,000
Balance at Dec. 31, 2019			$ 465	$ 397,267	$ (304,129)			$ 1,065,553	$ 0			$ 1,159,493				$ 1,159,493
Stock options exercised and stock awards (in shares)	1,247,000
Stock options exercised and stock awards			10	19,582								19,592				19,592
Stock-based compensation related to stock options, restricted shares and employee stock purchase plan				19,356								19,356				19,356
Vesting of restricted share awards		$ 339	2	(2,459)								(2,457)				(2,457)
Issuance of common stock under employee stock purchase plan (in shares)	177,000
Issuance of common stock under employee stock purchase plan			2	3,900								3,902				3,902
Common stock repurchases (in shares)	(843,000)	(225,000)
Common stock repurchases					(24,807)							(24,807)				(24,807)
Cancellation of treasury stock (in shares)	(7,000)	(4,000)
Cancellation of treasury stock			72		326,057			(326,129)
Cash dividends declared on common stock						$ (17,062)	$ (5,399)			$ (17,062)	$ (5,399)			$ (17,062)	$ (5,399)
Other comprehensive income									532			532				532
Net income								114,887				114,887				114,887
Foreign currency translation adjustment																532
Balance (in shares) at Dec. 31, 2020	42,504,000	12,470,000
Balance at Dec. 31, 2020			551	437,646	(2,879)			831,850	869			1,268,037				1,268,037
Stock options exercised and stock awards (in shares)	784
Stock options exercised and stock awards			8	14,157								14,165				14,165
Stock-based compensation related to stock options, restricted shares and employee stock purchase plan				22,246								22,246				22,246
Vesting of restricted share awards			3	(7,447)								(7,444)				(7,444)
Issuance of common stock under employee stock purchase plan (in shares)	149,000
Issuance of common stock under employee stock purchase plan			1	4,148								4,149				4,149
Common stock repurchases (in shares)	(329,000)	(418,000)
Common stock repurchases					(34,054)							(34,054)				(34,054)
Cash dividends declared on common stock						(31,816)	(9,867)			(31,816)	(9,867)			(31,816)	(9,867)
Other comprehensive income									(82)			(82)				(82)
Net income								241,415				241,415				241,415
Foreign currency translation adjustment																(82)
Balance (in shares) at Dec. 31, 2021	43,108,000	12,399,000
Balance at Dec. 31, 2021			563	470,750	(36,933)			1,031,582	787			1,466,749				$ 1,466,749
Stock options exercised and stock awards (in shares)	390															376,860
Stock options exercised and stock awards			4	8,029								8,033				$ 8,033
Stock-based compensation related to stock options, restricted shares and employee stock purchase plan				25,315								25,315				25,315
Vesting of restricted share awards			3	(8,669)								(8,666)				(8,666)
Issuance of common stock under employee stock purchase plan (in shares)	134,000
Issuance of common stock under employee stock purchase plan			2	5,217								5,219				5,219
Common stock repurchases (in shares)	(1,287,000)	(620,000)
Common stock repurchases					(93,997)							(93,997)				(93,997)
Cash dividends declared on common stock						$ (34,207)	$ (10,420)			$ (34,207)	$ (10,420)			$ (34,207)	$ (10,420)
Net income								391,382				391,382	$ 703			392,085
Vesting of restricted share awards (in shares)		304,000
Reclassification of foreign currency translation related to equity method									(601)			(601)				(601)
Foreign currency translation adjustment									(4,316)			(4,316)				(4,316)
Noncontrolling interest equity													17,828			17,828
Balance (in shares) at Dec. 31, 2022	42,345,000	12,083,000
Balance at Dec. 31, 2022			$ 572	$ 500,642	$ (130,930)			$ 1,378,337	$ (4,130)			$ 1,744,491	$ 18,531			$ 1,763,022

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income	$ 392,085	$ 241,415	$ 114,887
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	199,149	169,497	177,347
Gain on sale of property and equipment, net	(2,467)	(1,432)	(1,852)
Gain on joint venture transaction	(12,500)	0	0
Gain on business acquisition	(6,958)	0	0
Stock-based compensation expense related to employee stock options and employee stock purchases	25,315	22,246	19,356
Provision (benefit) for deferred income tax expense	4,261	14,034	(37,858)
Change in accounts receivable, net	(74,607)	32,312	11,223
Change in inventories	(324,508)	(33,572)	536,682
Change in prepaid expenses and other, net	1,340	(252)	5,822
Change in trade accounts payable	31,438	12,053	(23,336)
Payments on floor plan notes payable – trade, net	0	0	(114,958)
Change in customer deposits	34,121	2,993	31,514
Change in accrued expenses	32,789	(31,337)	48,974
Other, net	(5,058)	(5,611)	(4,819)
Net cash provided by operating activities	294,400	422,346	762,982
Cash flows from investing activities:
Acquisition of property and equipment	(243,060)	(167,177)	(136,200)
Proceeds from the sale of property and equipment	7,124	3,447	5,783
Business disposition	27,500	0	0
Business acquisitions, net of cash	(20,762)	(269,332)	0
Other	(11,732)	157	2,960
Net cash used in investing activities	(240,930)	(432,905)	(127,457)
Cash flows from financing activities:
Draws (payments) on floor plan notes payable – non-trade, net	273,906	118,945	(369,592)
Proceeds from long-term debt	958,328	260,336	157,255
Principal payments on long-term debt	(1,084,465)	(455,064)	(255,279)
Principal payments on finance lease obligations	(14,780)	(13,774)	(11,192)
Proceeds from issuance of shares relating to employee stock options and employee stock purchases	13,255	18,313	23,498
Taxes paid related to net share settlement of equity awards	(8,669)	(7,443)	(2,461)
Payments of cash dividends	(44,556)	(41,060)	(22,461)
Common stock repurchased	(93,709)	(33,596)	(24,865)
Net cash used in financing activities	(690)	(153,343)	(505,097)
Net increase (decrease) in cash and cash equivalents	52,780	(163,902)	130,428
Effect of exchange rate on cash	118	0	0
Cash and cash equivalents, beginning of year	148,146	312,048	181,620
Cash and cash equivalents, end of year	201,044	148,146	312,048
Supplemental disclosure of cash flow information:
Interest	21,694	22,224	38,806
Income taxes paid, net	102,038	101,987	36,364
Assets acquired under finance leases	$ 33,654	$ 29,044	$ 49,523

Note 1 - Organization and Operations

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

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

1.	ORGANIZATION AND OPERATIONS:

Rush Enterprises, Inc. (the “Company”) was incorporated in 1965 under the laws of the State of Texas. The Company operates a network of commercial vehicle dealerships that primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus or Blue Bird. Through its strategically located network of Rush Truck Centers, the Company provides one-stop service for the needs of its commercial vehicle customers, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.

Stock Split

On September 15, 2020, the Board of Directors of the Company declared a 3-for-2 stock split of the Company’s Class A common stock and Class B common stock, which was effected in the form of a stock dividend. On October 12, 2020, the Company distributed one additional share of stock for every two shares of Class A common stock, par value $0.01 per share, and Class B common stock, par value $0.01 per share, held by shareholders of record as of September 28, 2020. All share and per share data in this Form 10-K have been adjusted and restated to reflect the stock split as if it occurred on the first day of the earliest period presented.

COVID-19 Risks and Uncertainties

While business conditions have improved significantly since the onset of the COVID-19 pandemic in the second quarter of 2020, our industry continues to be impacted by supply chain issues generally attributable to the COVID-19 pandemic that are negatively affecting new commercial vehicle production and the availability of aftermarket parts. 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 of the COVID-19 pandemic and its effect on global economic trends and the various supply chains serving the commercial vehicle industry.

Foreign Currency Transactions

The functional currency of the Company’s foreign subsidiary, Rush Truck Centres of Canada Limited (“RTC Canada”), is the local currency. Results of operations for RTC Canada are translated to USD using the average exchange rate on a monthly basis during each quarter. The assets and liabilities of RTC Canada are translated into USD using the exchange rate in effect on the balance sheet date. The related translation adjustments are recorded as a separate component of the Company’s Consolidated Statements of Shareholders’ Equity in accumulated other comprehensive income (loss) and the Consolidated Statement of Comprehensive Income.

Note 2 - Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Significant Accounting Policies [Text Block]

2.	SIGNIFICANT ACCOUNTING POLICIES:

Principles of Consolidation

The consolidated financial statements presented herein include the accounts of Rush Enterprises, Inc. together with its consolidated subsidiaries. All significant inter-company balances and transactions have been eliminated in consolidation.

Estimates in Financial Statements

The preparation of the Company’s financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make certain estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the balance sheet date and the amounts of revenues and expenses recognized during the reporting period. Management analyzes the Company’s estimates based on historical experience and other assumptions that are believed to be reasonable under the circumstances, however, actual results could differ materially from such estimates.

Cash and Cash Equivalents

Cash and cash equivalents generally consist of cash and other money market instruments. The Company considers all highly liquid investments with an original maturity of ninety days or less to be cash equivalents.

Allowance for Credit Losses and Repossession Losses

The Company maintains an allowance for credit losses based on the probability of default, its historical rate of losses, aging and current economic conditions. Accounts receivables consist primarily of commercial vehicle sales receivables, manufacturers’ receivables, leasing and parts and service receivables and other trade receivables. 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 Company provides an allowance for repossession losses after considering historical loss experience and other factors that might affect the ability of customers to meet their obligations on finance contracts sold by the Company when the Company has a potential liability.

Inventories

Inventories are stated at the lower of cost or net realizable value. Cost is determined by specific identification of new and used commercial vehicle inventory and by the first-in, first-out method for tires, parts and accessories. As the market value of the Company’s inventory typically declines over time, reserves are established based on historical loss experience and market trends. These reserves are charged to cost of sales and reduce the carrying value of the Company’s inventory on hand. An allowance is provided when it is anticipated that cost will exceed net realizable value.

Property and Equipment

Property and equipment are stated at cost and depreciated over their estimated useful lives. Leasehold improvements are amortized over the useful life of the improvement, or the term of the lease, whichever is shorter. Provision for depreciation of property and equipment is calculated primarily on a straight-line basis. The Company capitalizes interest on borrowings during the active construction period of major capital projects. Capitalized interest, when incurred, is added to the cost of the underlying assets and is amortized over the estimated useful life of such assets. The cost, accumulated depreciation and amortization and estimated useful lives of the Company’s property and equipment are summarized as follows (in thousands):

	2022			2021			Estimated Life (Years)
Land	$	162,641		$	156,169			–
Buildings and improvements		570,595			552,965		10	–	39
Leasehold improvements		42,236			39,665		2	–	39
Machinery and shop equipment		96,584			92,762		5	–	20
Furniture, fixtures and computers		98,609			84,728		3	–	15
Transportation equipment		116,327			103,611		3	–	15
Lease and rental vehicles		1,067,006			947,318		1	–	8
Construction in progress		14,585			6,664
Accumulated depreciation and amortization		(799,989	)		(705,675	)

Total	$	1,368,594		$	1,278,207

As of December 31, 2022, the Company had $114.7 million in lease and rental vehicles under various finance leases included in property and equipment, net of accumulated amortization of $49.1 million. The Company recorded depreciation and amortization expense of $143.5 million related to lease and rental vehicles in lease and rental cost of products sold for the year ended December 31, 2022, $116.1 million for the year ended December 31, 2021 and $119.9 million for the year ended December 31, 2020.

Purchase Price Allocation, Intangible Assets and Goodwill

Purchase price allocation for business combinations and asset acquisitions requires the use of accounting estimates and judgments to allocate the purchase price to the identifiable tangible and intangible assets acquired and liabilities assumed based on their respective fair values. The Company determines whether substantially all the fair value of the gross assets acquired are concentrated in a single identifiable asset or a group of similar identifiable assets. If so, the single asset or group of assets, as applicable, is not a business. If not, the Company determines whether the single asset or group of assets, as applicable, meets the definition of a business.

In connection with the Company’s business combinations, it records certain intangible assets, including franchise rights. The Company periodically reviews the estimated useful lives and fair values of its identifiable intangible assets, taking into consideration any events or circumstances that might result in a diminished fair value or revised useful life. See Note 15 – Acquisitions in the Notes to the Financial Statements for further discussion.

Goodwill represents the excess, at the date of acquisition, of the purchase price of an acquired business over the fair value of the net tangible and intangible assets acquired. In addition to goodwill, the Company recognizes separately identifiable intangible assets for rights under franchise agreements with manufacturers.

The fair value of the intangible 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 $12.3 million as of December 31, 2022 and $8.6 million as of December 31, 2021, 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 a 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. 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 Company assesses goodwill and intangible franchise rights for impairment annually in the fourth quarter, or whenever events or changes in circumstances indicate an impairment may have occurred. If impaired, the carrying values of the assets are written down to fair value using Level 3 inputs. See Fair Value Measurements below for further discussion of Level 3 fair value inputs.

For the annual goodwill and intangible franchise rights impairment assessment conducted in the fourth quarter of 2022, the Company elected to perform a qualitative assessment and determined that it was not more-likely-than-not that the fair values of the Company’s reporting units were less than their carrying values.

No impairments of goodwill or intangible franchise rights were recorded during the years ended December 31, 2022, 2021 and 2020.

The following table sets forth the change in the carrying amount of goodwill for the Company for the year ended December 31, 2022 (in thousands):

Balance December 31, 2021	$	370,331
Acquisitions during 2022		47,437
Currency translation		(1,405	)
Balance December 31, 2022	$	416,363

Equity Method Investments

On February 25, 2019, the Company acquired 50% of the equity interest in RTC Canada, which acquired the operating assets of Tallman Group, the largest International Truck dealer in Canada. Prior to acquiring an additional 30% equity interest on May 2, 2022, for approximately $20.0 million, the Company accounted for the equity interest in RTC Canada using the equity method of accounting. Subsequent to the Company’s acquisition of the additional 30% equity interest on May 2, 2022, operations of RTC Canada are included in the accompanying consolidated financial statements. Income (loss) related to the 20% equity owner of RTC Canada is reflected in the accompanying consolidated financial statements as a noncontrolling interest. See Note 15 – Acquisitions in the Notes to the Financial Statements for further discussion.

On January 3, 2022, a subsidiary of Cummins, Inc. acquired a 50% equity interest in Natural Gas Fuel Systems, LLC (“NGFS”) from the Company for $27.5 million. NGFS previously conducted business as Momentum Fuel Technologies. The $12.5 million gain realized on the transaction is included in Other income on the Consolidated Statements of Income. The Company is accounting for the business as a joint venture and recognizes the investment using the equity method. The Company’s equity income in NGFS is included in the line item Other income on the Consolidated Statements of Income.

Income Taxes

Management’s judgment is required to determine the provisions for income taxes and to determine whether deferred tax assets will be realized in full or in part. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. When it is more likely than not that all or some portion of specific deferred income tax assets will not be realized, a valuation allowance must be established for the amount of deferred income tax assets that are determined not to be realizable. Accordingly, the facts and financial circumstances impacting deferred income tax assets are reviewed quarterly and management’s judgment is applied to determine the amount of valuation allowance required, if any, in any given period.

In determining its provision for income taxes, the Company uses an annual effective income tax rate based on annual income, permanent differences between book and tax income, and statutory income tax rates. The effective income tax rate also reflects its assessment of the ultimate outcome of tax audits. The Company adjusts its annual effective income tax rate as additional information on outcomes or events becomes available. Discrete events such as audit settlements or changes in tax laws are recognized in the period in which they occur.

The Company’s income tax returns are periodically audited by tax authorities. These audits include questions regarding the Company’s tax filing positions, including the timing and amount of deductions. In evaluating the exposures associated with its various tax filing positions, the Company adjusts its liability for unrecognized tax benefits and income tax provision in the period in which an uncertain tax position is effectively settled, the statute of limitations expires for the relevant taxing authority to examine the tax position or when more information becomes available.

The Company’s liability for unrecognized tax benefits contains uncertainties because management is required to make assumptions and to apply judgment to estimate the exposures associated with its various filing positions. The Company’s effective income tax rate is also affected by changes in tax law, the level of earnings and the results of tax audits. Although the Company believes that the judgments and estimates are reasonable, actual results could differ, and the Company may be exposed to losses or gains that could be material. An unfavorable tax settlement would generally require use of the Company’s cash and result in an increase in its effective income tax rate in the period of resolution. A favorable tax settlement would be recognized as a reduction in the Company’s effective income tax rate in the period of resolution. The Company’s income tax expense includes the impact of reserve provisions and changes to reserves that it considers appropriate, as well as related interest.

Revenue Recognition Policies

The Company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that the Company determines are within the scope of ASU 2014-09, Revenue from Contracts with Customers ("Topic 606"), the Company performs the following five steps: (i) identify the contract with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that it will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of Topic 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations. The Company then assesses whether each promised good or service is distinct and recognize as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. For a complete discussion of accounting for revenue, see Note 17 – Revenue of the Notes to Consolidated Financial Statements.

Rental and Lease Sales

The Company leases commercial vehicles that the Company owns to customers. Lease and rental revenue is recognized over the period of the related lease or rental agreement. Variable rental revenue is recognized when it is earned.

Cost of Sales

For the Company’s new and used commercial vehicle operations, cost of sales consists primarily of the Company’s actual purchase price, plus make-ready expenses, less any applicable manufacturers’ incentives. For the Company’s parts operations, cost of sales consists primarily of the Company’s actual purchase price, less any applicable manufacturers’ incentives. For the Company’s service and collision center operations, technician labor cost is the primary component of cost of sales. For the Company’s rental and leasing operations, cost of sales consists primarily of depreciation and amortization, rent, maintenance costs, license costs and interest expense considered direct and incremental on the lease and rental fleet owned and leased by the Company. There are no costs of sales associated with the Company’s finance and insurance revenue or other revenue.

Leases

When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of its leases do not provide a readily determinable implicit rate. Therefore, the Company must estimate its incremental borrowing rate to discount the lease payments based on information available at lease commencement.

Taxes Assessed by a Governmental Authority

The Company accounts for sales taxes assessed by a governmental authority that are directly imposed on a revenue-producing transaction on a net (excluded from revenues) basis.

Selling, General and Administrative Expenses

Selling, general and administrative expenses consist primarily of incentive based compensation for sales, finance and general management personnel, salaries for administrative personnel and expenses for rent, marketing, insurance, utilities and other general operating purposes.

Stock Based Compensation

The Company applies the provisions of ASC topic 718-10, “Compensation – Stock Compensation,” which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors, including grants of employee stock options, restricted stock units, restricted stock awards and employee stock purchases under the Employee Stock Purchase Plan, based on estimated fair values.

The Company uses the Black-Scholes option-pricing model to estimate the fair value of share-based payment awards on the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service periods.

Compensation expense for all share-based payment awards is recognized using the straight-line single-option method. Stock-based compensation expense is recognized based on awards expected to vest. Accordingly, stock based compensation expense has been reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.

The Company determines the fair value of share-based payment awards on the date of grant using an option-pricing model that is affected by the Company’s stock price, as well as assumptions regarding a number of highly complex and subjective variables. These variables include the Company’s expected stock price volatility over the term of the awards and actual and projected stock option exercise behaviors. Option-pricing models were developed for use in estimating the value of traded options that have no vesting or hedging restrictions and are fully transferable. Because the Company’s stock options have characteristics that are significantly different from traded options and because changes in the subjective assumptions can materially affect the estimated value, in management’s opinion, the existing valuation models may not provide an accurate measure of fair value and it may not be indicative of the fair value observed in a market transaction between a willing buyer and a willing seller.

The following table reflects the weighted-average fair value of stock options granted during each period using the Black-Scholes option valuation model with the following weighted-average assumptions used:

	2022			2021			2020
Weighted-average stock volatility		34.97	%		36.03	%		33.11	%
Expected dividend yield		1.44	%		1.65	%		1.20	%
Risk-free interest rate		2.13	%		1.07	%		0.80	%
Expected life (years)		6.0			6.0			6.0
Weighted-average fair value of stock options granted	$	16.81		$	14.77		$	6.36

The Company computes its historical stock price volatility in accordance with ASC Topic 718-10. The risk-free interest rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The dividend yield assumption is based on the Company’s history and expectation of dividend payouts. The expected life of stock options represents the weighted-average period the stock options are expected to remain outstanding.

Advertising Costs

Advertising costs are expensed as incurred. Advertising and marketing expense was $8.7 million for 2022, $7.5 million for 2021 and $7.9 million for 2020. Advertising and marketing expense is included in selling, general and administrative expense.

Accounting for Internal Use Software

The Company’s accounting policy with respect to accounting for computer software developed or obtained for internal use is consistent with ASC topic 350-40 (Internal Use Software), which provides guidance on accounting for the costs of computer software developed or obtained for internal use and identifies characteristics of internal-use software. The Company has capitalized software costs, including capitalized interest, of approximately $4.2 million as of December 31, 2022, net of accumulated amortization of $14.9 million, and had $5.5 million as of December 31, 2021, net of accumulated amortization of $13.6 million.

Insurance

The Company is partially self-insured for a portion of the claims related to its property and casualty insurance programs. Accordingly, the Company is required to estimate expected losses to be incurred. The Company engages a third-party administrator to assess any open claims and the Company adjusts its accrual accordingly on an annual basis. The Company is also partially self-insured for a portion of the claims related to its worker’s compensation and medical insurance programs. The Company uses actuarial information provided from third-party administrators to calculate an accrual for claims incurred, but not reported, and for the remaining portion of claims that have been reported.

Fair Value Measurements

The Company has various financial instruments that it must measure at fair value on a recurring basis. See Note 9 – Financial Instruments and Fair Value of the Notes to Consolidated Financial Statements, for further information. The Company also applies the provisions of fair value measurement to various nonrecurring measurements for its financial and nonfinancial assets and liabilities.

Applicable accounting standards define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The Company measures its assets and liabilities using inputs from the following three levels of the fair value hierarchy:

Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs).

Level 3 includes unobservable inputs that reflect the Company’s assumptions about what factors market participants would use in pricing the asset or liability. The Company develops these inputs based on the best information available, including its own data.

Acquisitions

The Company uses the acquisition method of accounting for the recognition of assets acquired and liabilities assumed through acquisitions at their estimated fair values as of the date of acquisition. The purchase price allocation for business combinations and asset acquisitions requires the use of accounting estimates and judgments to allocate the purchase price to the identifiable tangible and intangible assets acquired and liabilities assumed based on their respective fair values. As a result, during the measurement period, which is not to exceed one year from the date of acquisition, any changes in the estimated fair values of the net assets recorded for the acquisitions will result in an adjustment to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded in the Consolidated Statements of Income.

Recent Accounting Pronouncements

In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848).” In January 2021, the FASB clarified the scope of that guidance with the issuance of ASU 2021-01, “Reference Rate Reform: Scope.” The new accounting rules provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform. In December 2022, the FASB deferred the expiration date of Topic 848 with the issuance of ASU 2022-06, “Reference Rate Reform: Deferral of the Sunset Date of Topic 848.” The new accounting rules extend the relief in Topic 848 beyond the cessation date of USD LIBOR. The new accounting rules must be adopted by the fourth quarter of 2024. The Company is currently in the process of evaluating the impact of adoption of the new rules on the Company’s financial condition, results of operations, cash flows and disclosures.

Note 3 - Supplier Concentration

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Concentration Risk Disclosure [Text Block]

3.	SUPPLIER CONCENTRATION:

Major Suppliers and Dealership Agreements

The Company has entered into dealership agreements with various manufacturers of commercial vehicles and buses (“Manufacturers”). These agreements are nonexclusive agreements that allow the Company to stock, sell at retail and service commercial vehicles and sell parts from the Manufacturers in the Company’s defined area of responsibility. The agreements allow the Company to use the Manufacturers’ names, trade symbols and intellectual property and expire as follows:

Manufacturer		Expiration Dates
Peterbilt		May 2023
International		May 2023 through December 2027
Isuzu		Indefinite
Hino		Indefinite
Ford		Indefinite
Blue Bird		August 2024
IC Bus		May 2025 through December 2027

These agreements, as well as agreements with various other Manufacturers, impose a number of restrictions and obligations on the Company, including restrictions on a change in control of the Company and the maintenance of certain required levels of working capital. Violation of these restrictions could result in the loss of the Company’s right to purchase the Manufacturers’ products and use the Manufacturers’ trademarks.

The Company purchases its new Peterbilt vehicles from Peterbilt and most of the parts sold at its Peterbilt dealerships from PACCAR, Inc, the parent company of Peterbilt, at prevailing prices charged to all franchised dealers. Sales of new Peterbilt commercial vehicles accounted for approximately 59.6% of the Company’s new vehicle sales revenue for the year ended December 31, 2022, 62.5% of the Company’s new vehicle sales revenue for the year ended December 31, 2021, and 59.0% of the Company’s new vehicle sales revenue for the year ended December 31, 2020.

Primary Lenders

The Company purchases its new and used commercial vehicle inventories with the assistance of floor plan financing programs as described in Note 7 to these Notes to Consolidated Financial Statements. The Company finances the majority of all new commercial vehicle inventory and the loan value of its used commercial vehicle inventory under the Floor Plan Credit Agreement with BMO Harris. The Floor Plan Credit Agreement includes an aggregate loan commitment of $1.0 billion. The Company’s floor plan financing agreements provide that the occurrence of certain events will be considered events of default. In the event that the Company’s floor plan financing becomes insufficient, or its relationship with any of its current primary lenders terminates, the Company would need to obtain similar financing from other sources. Management believes it can obtain additional floor plan financing or alternative financing if necessary.

From time to time, the Company uses the WF Credit Agreement to finance its Idealease lease and rental fleet vehicles and for other working capital needs Pursuant to the terms of the WF Credit Agreement, the WF Lenders have agreed to make up to $175.0 million of revolving credit loans for certain of the Company’s capital expenditures, including commercial vehicle purchases for the Company’s Idealease lease and rental fleet, and general working capital needs. The Company expects to use the revolving credit loans available under the WF Credit Agreement primarily for the purpose of purchasing commercial vehicles for the Company’s Idealease lease and rental fleet.

The Company uses the PLC Agreement to finance its PacLease lease and rental fleet vehicles. Pursuant to the terms of the PLC Agreement, PLC agreed to make up to $300.0 million of revolving credit loans to finance commercial vehicle purchases and other equipment to be leased or rented through the Company’s PacLease franchises.

RTC Canada uses the RTC Canada Revolving Credit Agreement to finance its Idealease lease and rental fleet vehicles. Pursuant to the terms of the RTC Canada Revolving Credit Agreement, BMO agreed to make up to $120.0 million CAD of revolving credit loans to finance certain of RTC Canada’s capital expenditures, including commercial vehicle purchases and other equipment to be leased or rented through RTC Canada’s Idealease franchise, with an additional $20.0 million available upon the request of RTC Canada and consent of BMO.

RTC Canada uses the RTC Canada Floor Plan Agreement to finance its new and used vehicle inventory. Pursuant to the terms of the RTC Canada Floor Plan Agreement, BMO agreed to make up to $116.7 million CAD of revolving credit loans to finance RTC Canada’s purchase of new and used vehicle inventory.

Concentrations of Credit Risks

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company places its cash and cash equivalents with what it considers to be quality financial institutions based on periodic assessments of such institutions. The Company’s cash and cash equivalents may be uninsured or in deposit accounts that exceed the Federal Deposit Insurance Corporation insurance limit.

The Company controls credit risk through credit approvals and by selling a majority of its trade receivables, other than vehicle accounts receivable, without recourse. Concentrations of credit risk with respect to trade receivables are reduced because a large number of geographically diverse customers make up the Company’s customer base; however, substantially all of the Company’s business is concentrated in the United States commercial vehicle markets and related aftermarkets.

The Company generally sells finance contracts it enters into with customers to finance the purchase of commercial vehicles to third parties. These finance contracts are sold by the Company both with and without recourse. A majority of the Company’s finance contracts are sold without recourse. The Company provides an allowance for doubtful receivables and a reserve for repossession losses related to finance contracts sold with recourse. Historically, the Company’s allowances and reserves have covered losses inherent in these receivables.

Note 4 - Accounts Receivable

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

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

4.	ACCOUNTS RECEIVABLE:

The Company’s accounts receivable, net, consisted of the following (in thousands):

	December 31,
	2022			2021

Trade accounts receivable from sale of vehicles	$	83,158		$	37,599
Trade receivables other than vehicles		96,978			68,884
Warranty claims		13,060			9,290
Other accounts receivable		29,776			26,003
Less allowance for credit losses		(2,322	)		(1,590	)

Total	$	220,651		$	140,186

Accounts receivable as of January 1, 2021 was $172.5 million.

Note 5 - Inventories

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Inventory Disclosure [Text Block]

5.	INVENTORIES:

The Company’s inventories, net, consisted of the following (in thousands):

	December 31,
	2022			2021

New commercial vehicles	$	955,485		$	617,225
Used commercial vehicles		86,306			95,051
Parts and accessories		369,562			290,007
Other		34,564			26,232
Less allowance		(16,488	)		(8,379	)

Total	$	1,429,429		$	1,020,136

Note 6 - Valuation Accounts

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

6.	VALUATION ACCOUNTS:

Valuation and allowance accounts include the following (in thousands):

	Balance Beginning of Year		Net Charged to Costs and Expenses			Net Write- Offs			Balance End of Year

2022
Reserve for parts inventory	$	7,460	$	7,378		$	(5,415	)	$	9,423
Reserve for commercial vehicle inventory		919		13,653			(7,507	)		7,065

2021
Reserve for parts inventory	$	9,315	$	3,520		$	(5,375	)	$	7,460
Reserve for commercial vehicle inventory		6,075		(536	)		(4,620	)		919

2020
Reserve for parts inventory	$	7,661	$	4,501		$	(2,847	)	$	9,315
Reserve for commercial vehicle inventory		9,602		9,598			(13,125	)		6,075

Accounts Receivable and Allowance for Credit Losses

The Company establishes an allowance for credit losses to present the net amount of accounts receivable expected to be collected. Under Accounting Standards Topic 326, Financial Instruments Credit Losses, 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 receivables, manufacturers’ receivables and leasing, parts and service sales receivables and other trade receivables. The Company maintains an allowance for credit losses based on the probability of default, its historical rate of losses, aging and current economic conditions. 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.

Inventory

The Company provides a reserve for obsolete and slow moving parts. The reserve is reviewed and, if necessary, adjustments are made on a quarterly basis. The Company relies on historical information to support its reserve. Once the inventory is written down, the Company does not reverse any reserve balance until the inventory is sold.

The valuation for new and used commercial vehicle inventory is based on specific identification. A detail of new and used commercial vehicle inventory is reviewed and, if necessary, adjustments to the value of specific vehicles are made on a quarterly basis.

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

	Balance December 31, 2021		Provision for the Year Ended December 31, 2022		Write offs Against Allowance, net of Recoveries			Balance December 31, 2022

Commercial vehicle receivables	$	76	$	105	$	(21	)	$	160
Manufacturers’ receivables		419		2,580		(2,426	)		573
Leasing, parts and service receivables		1,069		2,673		(2,153	)		1,589
Other receivables		26		-		(26	)		-
Total	$	1,590	$	5,358	$	(4,626	)	$	2,322

Note 7 - Floor Plan Notes Payable and Lines of Credit

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Debt Disclosure [Text Block]

7.	FLOOR PLAN NOTES PAYABLE AND LINES OF CREDIT:

Floor Plan Notes Payable

Floor plan notes are financing agreements to facilitate the Company’s purchase of new and used commercial vehicle inventory. These notes are collateralized by the inventory purchased and accounts receivable arising from the sale thereof. The Company’s Floor Plan Credit Agreement provides for a loan commitment of up to $1.0 billion and has the interest rate benchmarked to LIBOR, as defined in the agreement. The interest rate under the Company’s Floor Plan Credit Agreement is the one month LIBOR rate plus 1.10%. The effective interest rate applicable to the Company’s Floor Plan Credit Agreement was approximately 5.24% as of December 31, 2022. The Company utilizes its excess cash on hand to pay down its outstanding borrowings under its Floor Plan Credit Agreement, and the resulting interest earned is recognized as an offset to the Company’s gross interest expense under the Floor Plan Credit Agreement.

The Company’s RTC Canada Floor Plan Agreement provides for a loan commitment of up to $116.7 million CAD and has the interest benchmarked to CDOR, as defined in the agreement. Loans to purchase used vehicle inventory are limited to twenty percent (20%) of the credit limit available at such time. RTC Canada may borrow, repay and reborrow loans from time to time until the maturity date, provided, however, that the outstanding principal amount on any date shall not exceed the credit limits set forth above with respect to new and used vehicles. Advances under the RTC Canada Floor Plan Agreement bear interest per annum, payable on the first business day of each calendar month, at CDOR, plus 0.90% and in the case of an advance required to be made in USD dollars, at LIBOR, plus 1.10%.

The Company finances substantially all of the purchase price of its new commercial vehicle inventory and the loan value of its used commercial vehicle inventory under its Floor Plan Credit Agreement and RTC Canada Floor Plan Agreement, under which BMO Harris and BMO pay the manufacturer directly with respect to new commercial vehicles. Amounts borrowed under the Company’s Floor Plan Credit Agreement and RTC Canada Floor Plan Agreement are due when the related commercial vehicle inventory (collateral) is sold. The Company’s Floor Plan Credit Agreement expires September 14, 2026, although BMO Harris has the right to terminate the Floor Plan Credit Agreement at any time upon 360 days written notice and the Company may terminate at any time, subject to specified limited exceptions. On December 31, 2022, the Company had approximately $762.9 million outstanding under its Floor Plan Credit Agreement. The Company’s RTC Canada Floor Plan Agreement expires September 14, 2026. On December 31, 2022, the Company had approximately $44.6 million outstanding under the RTC Canada Floor Plan Agreement.

The Company’s weighted average interest rate for floor plan notes payable was 1.56% for the year ended December 31, 2022, and 0.42% for the year ended December 31, 2021, which is net of interest related to prepayments of new and used inventory loans.

Assets pledged as collateral were as follows (in thousands):

	December 31,
	2022		2021
Inventories, new and used vehicles at cost based on specific identification, net of allowance	$	1,034,727	$	711,358
Vehicle sale related accounts receivable		83,158		37,599
Total	$	1,117,885	$	748,957

Floor plan notes payable related to vehicles	$	933,203	$	630,731

Lines of Credit

The Company has a line of credit that provides for a maximum borrowing of $20.0 million. There were no advances outstanding under this secured line of credit as of December 31, 2022; however, $14.1 million was pledged to secure various letters of credit related to self-insurance products, leaving $5.9 million available for future borrowings as of December 31, 2022.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Note 8 - Long-term Debt

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Long-Term Debt [Text Block]

8.	LONG-TERM DEBT:

Long-term debt was comprised of the following (in thousands):

	December 31,
	2022		2021

Variable interest rate term notes	$	275,433	$	334,926
Less: current maturities		-		-

Total long-term debt, net of current maturities	$	275,433	$	334,926

As of December 31, 2022, long-term debt maturities were as follows (in thousands):

2023		-
2024		40,475
2025		185,024
2026		49,934
2027		-
Thereafter		-
Total	$	275,433

On September 14, 2021, the Company entered into the WF Credit Agreement with the WF Lenders and the WF Agent. The WF Credit Agreement was amended effective November 30, 2022. Pursuant to the terms of the WF Credit Agreement, the WF Lenders have agreed to make up to $175.0 million of revolving credit loans for certain of the Company’s capital expenditures, including commercial vehicle purchases for the Company’s Idealease lease and rental fleet, and general working capital needs. Borrowings under the WF Credit Agreement bear interest per annum, payable on each interest payment date, as defined in the WF Credit Agreement, at (A) SOFR plus (i) 1.25% or (ii) 1.5%, depending on the Company’s consolidated leverage ratio or (B) on or after the term SOFR transition date, the term SOFR plus (i) 1.25% or (ii) 1.5%, depending on the Company’s consolidated leverage ratio. The WF Credit Agreement expires on September 14, 2024, although, upon the occurrence and during the continuance of an event of default, the WF Agent has the right to, or upon the request of the required lenders must, terminate the commitments and declare all outstanding principal and interest due and payable. The Company may terminate the commitments at any time. The Company expects to use the revolving credit loans available under the WF Credit Agreement primarily for the purpose of purchasing commercial vehicles for the Company’s Idealease lease and rental fleet.

On October 1, 2021, the Company entered into the PLC Agreement. Pursuant to the terms of the PLC Agreement, PLC agreed to make up to $300.0 million of revolving credit loans to finance certain of the Company’s capital expenditures, including commercial vehicle purchases and other equipment to be leased or rented through the Company’s PacLease franchises. Advances under the PLC Agreement bear interest per annum, payable on the fifth day of the following month, at the Company’s option, at either (A) the prime rate, minus 1.55%, provided that the floating rate of interest is subject to a floor of 0%, or (B) a fixed rate, to be determined between the Company and PLC in each instance of borrowing at a fixed rate. The PLC Agreement expires on October 1, 2025, although either party has the right to terminate the PLC Agreement at any time upon 180 days written notice.

On May 31, 2022, RTC Canada entered into the RTC Canada Revolving Credit Agreement. Pursuant to the terms of the RTC Canada Revolving Credit Agreement, BMO agreed to make up to $120.0 million CAD of revolving credit loans to finance certain of RTC Canada’s capital expenditures, including commercial vehicle purchases and other equipment to be leased or rented through RTC Canada’s Idealease franchise, with an additional $20.0 million available upon the request of RTC Canada and consent of BMO. Advances under the RTC Canada Revolving Credit Agreement bear interest per annum, payable on the first business day of each calendar month, at CDOR, plus 1.35%. The RTC Canada Revolving Credit Agreement expires September 14, 2026.

The interest associated with the WF Credit Agreement, the PLC Agreement and the RTC Canada Revolving Credit Agreement is recorded in interest expense on the Consolidated Statement of Income. The WF Credit Agreement, PLC Agreement and RTC Canada Revolving Credit Agreement are general borrowing facilities, whereas prior to these credit agreements, interest expense associated with the Company’s lease and rental fleet was recorded in cost of sales as the borrowings were directly related to each lease and rental vehicle.

The Company’s floor plan financing agreements and the WF Credit Agreement require us to satisfy various financial ratios such as the leverage ratio, the asset coverage ratio and the fixed charge coverage ratio. As of December 31, 2022, the Company was in compliance with all debt covenants related to its floor plan credit agreements and the WF Credit Agreement. The Company does not anticipate any breach of the covenants in the foreseeable future.

Note 9 - Financial Instruments and Fair Value

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Fair Value Disclosures [Text Block]

9.	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 as of December 31, 2022, and 2021. 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 Company has categorized such debt within Level 2 of the hierarchy framework. The carrying amount approximates fair value.

- Definition

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 10 - Leases

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Leases of Lessee and Lessor Disclosure [Text Block]

10.

LEASES:

In February 2016, the FASB issued ASU No. 2016-02, “Leases (“Topic 842”),” which was intended to increase the transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The standard requires lessees to record assets and liabilities on the balance sheet for all leases with terms longer than twelve months. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement.

A lease is classified as a finance lease if any of the following conditions exist on the date of lease commencement:

●

The lease transfers ownership of the underlying asset to the lessee by the end of the lease term.

●

The lease provides the lessee an option to purchase the underlying asset, and that option is reasonably certain to be exercised.

●

The lease term is for the major part of the remaining economic life of the underlying asset.

●

The present value of the lease payments equals or exceeds substantially all of the fair value of the underlying asset.

●

The underlying asset is of such a specialized nature that only the lessee can use it without major modifications.

●

The lessor expects to have no alternative use for the leased asset at the end of the lease.

The Company adopted Topic 842 on January 1, 2019, and applied the practical expedients permitted, which among other things, allowed it to retain its existing assessment of whether an arrangement is, or contains, a lease and whether such lease is classified as an operating or finance lease. The Company made an accounting policy election that keeps leases with an initial term of twelve months or less off of the balance sheet and results in recognizing those lease payments in the Consolidated Statements of Income and Comprehensive Income on a straight-line basis over the lease term.

The Company leases commercial vehicles and real estate under finance and operating leases. The Company determines whether an arrangement is a lease at its inception. For leases with terms greater than twelve months, the Company records the related asset and obligation at the present value of lease payments over the term. Many of the Company’s leases include renewal options and/or termination options that are factored into its determination of lease payments when appropriate. The Company has elected not to account for lease and nonlease components as a single combined lease component as lessee. When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of its leases do not provide a readily determinable implicit rate. Therefore, the Company must estimate its incremental borrowing rate to discount the lease payments based on information available at lease commencement.

Lease of Vehicles as Lessee

The Company leases commercial vehicles as the lessee under finance leases and operating leases. The lease terms vary from one year to ten years. Commercial vehicle finance leases have always been reported on the Consolidated Balance Sheet, while operating leases were added to the Consolidated Balance Sheet in 2019 with the adoption of Topic 842. These vehicles are then subleased or rented by the Company to customers under various agreements. The Company received sublease income under non-cancelable subleases of $41.7 million for the year ended December 31, 2022 and $33.0 million for the year ended December 31, 2021.

The Company usually guarantees the residual value of vehicles under operating lease and finance lease arrangements. As of December 31, 2022, the Company guaranteed commercial vehicle residual values of approximately $64.4 million under operating lease and finance lease arrangements.

Lease of Facilities as Lessee

The Company’s facility leases are classified as operating and finance leases and primarily reflect its use of dealership facilities and office space. The lease terms vary from one year to 83 years, some of which include options to extend the lease term, and some of which include options to terminate the lease within one year. The Company considers these options in determining the lease term used to establish its right-of-use assets and lease liabilities.

The Company leases facilities in Ontario, Canada from entities owned by the noncontrolling interest holder of RTC Canada. In 2022, the Company recorded approximately $2.8 million in operating lease expense related to these leases.

Lease Costs and Supplemental Information

Components of lease cost are as follows (in thousands):

		Year Ended
Component	Classification	December 31, 2022		December 31, 2021
Operating lease cost	SG&A expense	$	11,288	$	9,826
Operating lease cost	Lease and rental cost of products sold		6,081		4,449
Finance lease cost – amortization of right-of-use assets	Lease and rental cost of products sold		20,135		19,138
Finance lease cost – interest on lease liabilities	Lease and rental cost of products sold		4,783		5,749
Short-term lease cost	SG&A expense		413		135

Supplemental cash flow information and non-cash activity related to operating and finance leases are as follows (in thousands):

	Year Ended
	December 31, 2022		December 31, 2021
Operating cash flow information:
Cash paid for amounts included in the measurement of lease liabilities	$	21,874	$	20,024
Financing cash flow information:
Cash paid for amounts included in the measurement of lease liabilities	$	14,780	$	13,774
Non-cash activity:
Operating lease right-of-use assets obtained in exchange for lease obligations	$	54,385	$	24,802

Weighted-average remaining lease term and discount rate for operating and finance leases as of December 31, 2022 are as follows:

	Finance Leases			Operating
Weighted-average remaining lease term (in months)		44			122
Weighted-average discount rate		4.3	%		4.3	%

Maturities of lease liabilities by fiscal year for finance leases and operating leases as of December 31, 2022 are as follows (in thousands):

	Finance Leases			Operating Leases
2023	$	33,854		$	18,297
2024		32,863			18,274
2025		26,930			14,245
2026		18,752			13,149
2027		11,553			10,923
2028 and beyond		11,948			58,167
Total lease payments	$	135,900		$	133,055
Less: Imputed interest		(13,208	)		(29,023	)
Present value of lease liabilities	$	122,692		$	104,032

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 applied the practical expedient permitted within Topic 842 that allows it not to 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 December 31, 2022 in the amount of $6.0 million is reflected in Other Assets on the Consolidated Balance Sheet.

Minimum rental payments to be received for non-cancelable leases and subleases in effect as of December 31, 2022, are as follows (in thousands):

2023	$	157,666
2024		124,174
2025		88,974
2026		55,871
2027		30,388
Thereafter		15,825
Total	$	472,898

Rental income during the year ended December 31, 2022, and 2021, consisted of the following (in thousands):

	2022		2021
Minimum rental payments	$	278,330	$	214,400
Nonlease payments		43,927		32,834
Total	$	322,257	$	247,234

Note 11 - Share Based Compensation and Employee Benefit Plans

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

11.	SHARE BASED COMPENSATION AND EMPLOYEE BENEFIT PLANS:

Employee Stock Purchase Plan

The Company’s 2004 Employee Stock Purchase Plan, as amended and restated (the “Employee Stock Purchase Plan”) allows eligible employees to contribute up to $10,625 of their base earnings every six months toward the semi-annual purchase of the Company’s Class A common stock. The employee’s purchase price is 85% of the lesser of the closing price of the Class A common stock on the first business day or the last business day of the semi-annual offering period, as reported by The NASDAQ Global Select Market. Employees may purchase shares having a fair market value of up to $25,000 (measured as of the first day of each semi-annual offering period) for each calendar year. Under the Employee Stock Purchase Plan, there are approximately 460,602 shares remaining of the 2,700,000 shares of the Company’s Class A common Stock that were reserved for issuance. The Company issued 134,115 shares under the Employee Stock Purchase Plan during the year ended December 31, 2022 and 148,999 shares during the year ended December 31, 2021. Of the 7,418 employees eligible to participate, approximately 2,104 elected to participate in the plan as of December 31, 2022.

Non-Employee Director Stock Option Plan

The Rush Enterprises, Inc. 2006 Non-Employee Director Stock Option Plan, as amended and restated (the “Director Plan”), reserved 750,000 shares of Class A common stock for issuance upon exercise of any awards granted under the plan. The Director Plan is designed to attract and retain highly qualified non-employee directors. Currently, each non-employee director receives a grant of the Company’s Class A common stock equivalent to a compensation value of $145,000; provided however, that directors may elect to receive up to 40% of the value of such grant in cash. In 2022, three non-employee directors each received a grant of 2,757 shares of the Company’s Class A common stock, two non-employee directors each received a grant of 1,654 shares of the Company’s Class A common stock and $58,000 cash and one non-employee director received a grant of 1,930 shares of the Company’s Class A common stock and $43,500 cash, for total compensation equivalent to $145,000 each. In 2021, three non-employee directors each received a grant of 2,875 shares of the Company’s Class A common stock and two non-employee directors each received a grant of 2,013 shares of the Company’s Class A common stock and $43,500 cash and one non-employee director received a grant of 1,725 shares of the Company’s Class A common stock and $58,000 cash for total compensation equivalent to $145,000 each. One director who was appointed to the Company’s Board of Directors in October of 2021 received 1,350 shares of the Company’s Class A common stock, for total compensation equivalent to $72,500. Under the Director Plan, there are approximately 134,643 shares remaining for issuance of the 750,000 shares of the Company’s Class A common stock that were reserved for issuance. The Company granted 13,509 shares of Class A common stock under the Director Plan during the year ended December 31, 2022 and 15,726 shares of Class A common stock under the Director Plan during the year ended December 31, 2021.

Employee Incentive Plans

In May 2007, the Board of Directors and shareholders adopted the Rush Enterprises, Inc. 2007 Long-Term Incentive Plan (the “2007 Incentive Plan”). The 2007 Incentive Plan provides for the grant of stock options (which may be nonqualified stock options or incentive stock options for tax purposes), stock appreciation rights issued independent of or in tandem with such options (“SARs”), restricted stock awards and performance awards. The 2007 Incentive Plan was amended and restated on May 20, 2014, May 16, 2017 and again on May 12, 2020, to increase the number of shares available for issuance under the plan to 13,200,000 shares of Class A common stock and 4,800,000 shares of Class B common stock and to make certain other changes intended to bring the 2007 Incentive Plan into conformance with current best practices.

The aggregate number of shares of common stock subject to stock options or SARs that may be granted to any one participant in any year under the 2007 Incentive Plan is 150,000 shares of Class A common stock or 150,000 shares of Class B common stock. Each option granted pursuant to the 2007 Incentive Plan has a ten-year term from the grant date and vests in three equal annual installments beginning on the third anniversary of the grant date. The Company has 13,200,000 shares of Class A common stock and 4,800,000 shares of Class B common stock reserved for issuance under the Company’s 2007 Incentive Plan. As of December 31, 2022, approximately 1,756,629 shares of Class A common stock and 955,225 shares of Class B common stock are available for issuance under the Company’s 2007 Incentive Plan. The Company issues new shares of its Class A or Class B common stock upon the exercise of stock options or vesting of restricted stock awards. During the year ended December 31, 2022, the Company granted to employees 511,900 options to purchase Class A common stock and 354,600 restricted Class B common stock awards under the 2007 Incentive Plan. Restricted stock awards are issued when granted, but are subject to vesting requirements. During the year ended December 31, 2021, the Company granted to employees 498,700 options to purchase Class A common stock and 340,650 shares of restricted Class B common stock awards under the 2007 Incentive Plan.

Valuation and Expense Information

Stock-based compensation expense related to stock options, restricted stock awards, restricted stock units and employee stock purchases was $25.3 million for the year ended December 31, 2022, $22.2 million for the year ended December 31, 2021, and $19.4 million for the year ended December 31, 2020. Cash received from options exercised and shares purchased under all share-based payment arrangements was $13.3 million for the year ended December 31, 2022, $18.3 million for the year ended December 31, 2021, and $23.5 million for the year ended December 31, 2020.

The following table presents a summary of the Company’s stock option activity and related information for the year ended December 31, 2022:

						Weighted
				Weighted		Average
				Average		Remaining		Aggregate
				Exercise		Contractual		Intrinsic
Options	Shares			Price		Life (in Years)		Value

Balance of Outstanding Options at January 1, 2022		3,804,976		$	26.31
Granted		511,900			53.04
Exercised		(376,860	)		21.31
Forfeited		(24,750	)		39.20
Balance of Outstanding Options at December 31, 2022		3,915,266		$	30.20		6.0	$	86,815,673
Expected to vest after December 31, 2022		2,375,412		$	35.73		7.4	$	39,675,140
Vested and exercisable at December 31, 2022		1,514,871		$	21.24		3.8	$	47,018,146

The aggregate intrinsic value in the preceding table represents the total pretax intrinsic value, based on the closing price of the Company’s Class A common stock on December 31, 2022, which was $52.28. The total intrinsic value of options exercised was $11.6 million during the year ended December 31, 2022, $23.4 million during the year ended December 31, 2021, and $20.8 million during the year ended December 31, 2020.

The following table presents a summary of the status of the number of shares underlying the Company’s non-vested stock options as of December 31, 2022, and changes during the year ended December 31, 2022:

				Weighted
				Average
	Number of			Grant Date
Non-vested Shares	Shares			Fair Value

Non-vested at January 1, 2022		2,576,614		$	9.35
Granted		511,900			16.81
Vested		(663,369	)		8.96
Forfeited		(24,750	)		12.05
Non-vested at December 31, 2022		2,400,395		$	11.02

The total fair value of vested options was $5.9 million during the year ended December 31, 2022, $5.0 million during the year ended December 31, 2021, and $4.5 million during the year ended December 31, 2020. The weighted-average grant date fair value of options granted was $16.81 per share during the year ended December 31, 2022, $14.77 per share during the year ended December 31, 2021, and $6.36 per share during the year ended December 31, 2020.

Stock Awards

The Company granted restricted stock awards to certain of its employees under the 2007 Incentive Plan and unrestricted stock awards to its non-employee directors under the Director Plan during the year ended December 31, 2022. The restricted stock awards granted to employees vest in three equal installments on the first, second and third anniversary of the grant date and are forfeited in the event the recipient’s employment or relationship with the Company is terminated prior to vesting, except as a result of retirement or under certain circumstances associated with a change of control or involuntary termination, as further described in the Company’s executive transition plan. The fair value of the restricted stock awards granted to the Company’s employees is amortized to expense on a straight-line basis over the restricted stock’s vesting period. The shares granted to non-employee directors are expensed on the grant date.

The following table presents a summary of the Company’s non-vested restricted stock awards at December 31, 2022:

				Weighted
				Average				Weighted
				Remaining		Aggregate		Average
				Contractual		Intrinsic		Grant Date
Stock Awards and Units	Shares			Life (in Years)		Value		Fair Value

Outstanding non-vested shares at January 1, 2022		843,820						$	31.97
Granted		368,109							50.00
Vested		(458,252	)						30.14
Forfeited		(1,000	)						49.90
Outstanding non-vested at December 31, 2022		752,677			8.4	$	42,353,135		41.87
Expected to vest after December 31, 2022		751,079			8.4	$	42,263,234

The total fair value of the shares issued upon the vesting of restricted and unrestricted stock awards during the year ended December 31, 2022 was $13.8 million. The weighted-average grant date fair value of stock awards granted was $50.00 per share during the year ended December 31, 2022, $44.86 per share during the year ended December 31, 2021 and $21.98 per share during the year ended December 31, 2020.

As of December 31, 2022, the Company had $10.6 million of unrecognized compensation expense related to non-vested employee stock options to be recognized over a weighted-average period of 2.2 years and $10.9 million of unrecognized compensation cost related to non-vested restricted stock awards to be recognized over a weighted-average period of 1.3 years.

Defined Contribution Plan

The Company has a defined contribution plan (the “Rush 401k Plan”) that is available to all employees. Each employee who has completed 30 days of continuous service is entitled to enter the Rush 401k Plan on the first day of the following month. Participating employees may contribute from 1% to 50% of their total gross compensation. However, certain highly compensated employees are limited to a maximum contribution of 15% of total gross compensation. Effective February 1, 2012, for the first 10% of an employee’s contribution, the Company contributed an amount equal to 20% of the employees’ contributions for those employees with less than five years of service and an amount equal to 40% of the employees’ contributions for those employees with more than five years of service. Effective June 16, 2020, as part of the Company’s expense reductions due to the Covid-19 pandemic, for the first 10% of an employee’s contribution, the Company contributed an amount equal to 5% of the employees’ contributions for those employees with less than five years of service and an amount equal to 10% of the employees’ contributions for those employees with more than five years of service. Effective March 15, 2021, for the first 10% of an employee’s contribution, the Company contributed an amount equal to 20% of the employees’ contributions for those employees with less than five years of service and an amount equal to 40% of the employees’ contributions for those employees with more than five years of service. The Company incurred expenses related to the Rush 401k Plan of approximately $12.1 million during the year ended December 31, 2022, $8.2 million during the year ended December 31, 2021 and $6.0 million during the year ended December 31, 2020.

Deferred Compensation Plan

On November 6, 2010, the Board of Directors of the Company adopted the Rush Enterprises, Inc. Deferred Compensation Plan (the “Deferred Compensation Plan”) pursuant to which certain employees and directors may elect to defer a portion of their annual compensation. The Deferred Compensation Plan was amended and restated effective May 18, 2021 in order to bring the plan into conformance with current “best” practices. The Company established a rabbi trust to finance obligations under the Deferred Compensation Plan with corporate-owned variable life insurance contracts. Participants are 100% vested in their respective deferrals and the earnings thereon. The first deferral election period began on January 1, 2011. The Company’s liability related to the Deferred Compensation Plan was $19.4 million on December 31, 2022 and $21.3 million on December 31, 2021. The related cash surrender value of the life insurance contracts was $13.0 million on December 31, 2022 and $12.7 million on December 31, 2021.

The Company currently does not provide any post-retirement benefits nor does it provide any post-employment benefits.

Note 12 - Earnings Per Share

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

12.	EARNINGS PER SHARE:

Basic earnings per share (“EPS”) were computed by dividing income from continuing operations by the weighted average number of shares of common stock outstanding during the period. Diluted EPS differs from basic EPS due to the assumed conversions of potentially dilutive options, restricted shares awards and restricted stock unit awards that were outstanding during the period.

Each share of Class A common stock ranks equal to each share of Class B common stock with respect to receipt of any dividends or distributions declared on shares of common stock and the right to receive proceeds on liquidation or dissolution of the Company after payment of its indebtedness and liquidation preference payments to holders of any preferred shares. However, holders of Class A common stock have 1/20th of one vote per share on all matters requiring a shareholder vote, while holders of Class B common stock have one full vote per share.

The following is a reconciliation of the numerators and the denominators of the basic and diluted per share computations for income from continuing operations (in thousands, except per share amounts):

	2022		2021		2020
Numerator-
Numerator for basic and diluted earnings per share − Net income available to common shareholders	$	391,382	$	241,415	$	114,887
Denominator-
Denominator for basic earnings per share – weighted average shares outstanding		55,400		55,892		54,866
Effect of dilutive securities− Employee and director stock options and restricted share awards		1,751		1,986		1,376
Denominator for diluted earnings per share − adjusted weighted average shares outstanding and assumed conversions		57,151		57,878		56,242
Basic earnings per common share	$	7.06	$	4.32	$	2.09
Diluted earnings per common share and common share equivalents	$	6.85	$	4.17	$	2.04

Options to purchase shares of common stock that were outstanding for the years ended December 31, 2022, 2021 and 2020 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):

		2022				2021				2020
Anti-dilutive options – weighted average			847				437				1,349

Note 13 - Income Taxes

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Income Tax Disclosure [Text Block]

13.	INCOME TAXES:

The tax provisions are summarized as follows (in thousands):

	Year Ended December 31,
	2022			2021			2020
Income before income taxes:
Domestic	$	502,141		$	307,260		$	146,055
Foreign		7,186			6,423			5,668
Total		509,327			313,683			151,723

Current provision
Federal	$	93,942		$	47,475		$	67,988
State		16,516			10,759			6,706
Foreign		2,523			-			-
Total		112,981			58,234			74,694
Deferred provision (benefit)
Federal		7,975			13,809			(37,683	)
State		(565	)		(631	)		(1,254	)
Foreign		(3,149	)		856			1,079
Total		4,261			14,034			(37,858	)
Provision for income taxes	$	117,242		$	72,268		$	36,836

A reconciliation of taxes based on the federal statutory rates and the provisions (benefits) for income taxes are summarized as follows (in thousands):

	Year Ended December 31,
	2022			2021			2020
Income taxes at the federal statutory rate	$	106,959		$	65,694		$	31,862
State income taxes, net of federal benefit		12,708			7,874			4,487
Tax effect of permanent differences		(488	)		(2,502	)		283
Foreign tax rate differential		(2,134	)		(313	)		(111	)
Other, net		197			1,515			315
Provision for income taxes	$	117,242		$	72,268		$	36,836

The following summarizes the components of net deferred income tax liabilities included in the balance sheet (in thousands):

	December 31,
	2022			2021
Deferred income tax (assets) liabilities:
Inventory	$	(4,710	)	$	(2,704	)
Accounts receivable		(430	)		(349	)
Finance lease obligations		(28,514	)		(27,242	)
Finance and operating leases		(25,283	)		(16,379	)
Stock options		(7,525	)		(6,993	)
Accrued liabilities		(3,632	)		(5,768	)
State net operating loss carry forward		(1,268	)		(1,438	)
State tax credit		(77	)		(120	)
Other		(5,519	)		(2,765	)
Difference between book and tax basis- Operating lease assets		24,989			16,132
Difference between book and tax basis- Depreciation and amortization		203,939			188,099
Net deferred income tax liability	$	151,970		$	140,473

The increase in the net deferred income tax liability from December 31, 2021 to December 31, 2022 includes $7.2 million in deferred income tax liability related to the inclusion of RTC Canada in the Company’s consolidated financial statements subsequent to the acquisition of the additional 30% equity interest on May 2, 2022.

As of December 31, 2022, the Company had approximately $23.5 million in state net operating loss carry forwards that expire from 2022 to 2041, which result in a deferred tax asset of approximately $1.3 million. The Company has evaluated whether its state net operating losses are realizable and has not recorded a valuation allowance against them. The valuation allowance did not change over the prior year ending December 31, 2021.

The Company had unrecognized income tax benefits totaling $5.3 million as a component of accrued liabilities as of December 31, 2022, and $4.3 million as of December 31, 2021, the total of which, if recognized, would impact the Company’s effective tax rate. An unfavorable settlement would 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. During the years ended December 31, 2022, 2021 and 2020, the Company recognized approximately $22,800, $129,660, and $6,150 in interest expense. No amounts were accrued for penalties. The Company had approximately $302,000, $279,000 and $150,000 of interest accrued as of December 31, 2022, 2021 and 2020, respectively.

Undistributed earnings of certain of the Company’s foreign subsidiaries amounted to approximately $18.9 million at December 2022. Those earnings are considered to be indefinitely reinvested. Upon repatriation of those earnings in the form of dividends or otherwise, the Company may be subject to state and local taxes, and/or withholding taxes payable to the various foreign countries. The Company expects to be able to take a 100% dividends received deduction to offset any U.S. federal income tax liability on the distribution of untaxed earnings and profits.

The Company does not anticipate a significant change in the amount of unrecognized tax benefits in the next 12 months. As of December 31, 2022, the tax years ended December 31, 2019 through 2022 remained subject to audit by federal tax authorities and the tax years ended December 31, 2018 through 2022, remained subject to audit by state tax authorities.

The table below presents the reconciliation of the change in the unrecognized tax benefits (in thousands):

	2022			2021			2020
Unrecognized tax benefits at beginning of period	$	4,309		$	3,306		$	3,007
Gross increases – tax positions in current year		2,025			1,512			651
Reductions due to lapse of statute of limitations		(957	)		(509	)		(352	)
Unrecognized tax benefits at end of period	$	5,377		$	4,309		$	3,306

- Definition

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Note 14 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

14.	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. 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. As of December 31, 2022, the Company believes that there are no pending claims or litigation, individually or in the aggregate, that are reasonably likely to 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 15 - Acquisitions

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Business Combination Disclosure [Text Block]

15.	ACQUISITIONS

All of the following acquisitions, unless otherwise noted, were considered business combinations accounted for under ASC 805 “Business Combinations.” Pro forma information is not included in accordance with ASC 805 since no acquisitions were considered material individually or in the aggregate.

On November 7, 2022, the Company acquired certain assets of Scheppers International Truck Center, Inc., which included real estate and an International truck franchise in Jefferson City, Missouri, along with commercial vehicle and parts inventory. The transaction was valued at approximately $6.8 million, with the purchase price paid in cash.

On May 2, 2022, the Company completed the acquisition of an additional 30% equity interest in RTC Canada, resulting in an 80% controlling interest in RTC Canada. The acquisition was accounted for as an acquisition achieved in stages under ASC 805, Business Combinations. The acquisition-date fair value of the previous 50% equity interest was $44.7 million, resulting in a gain of $7.0 million included in the line item Other income (expense) on the Consolidated Statements of Income. The Company also recognized a reversal of deferred tax liabilities of $2.2 million and $0.6 million related to reclassification of the foreign currency translation adjustment related to the remeasurement of the Company’s previous equity method investment in RTC Canada.

As of May 2, 2022, the Company established a noncontrolling interest related to the minority holders. The fair value of the 20% noncontrolling interest in RTC Canada is estimated to be $17.8 million. The fair value of the noncontrolling interest was estimated using a combination of the income approach and a market approach. Since RTC Canada is a private company, the fair value measurement is based on significant inputs that are not observable in the market and thus represents a Level 3 measurement as defined in ASC 820, Fair Value Measurement. The fair value estimates are based on: (i) a discount rate of 11%; (ii) a terminal value based on a long-term sustainable growth rate of 3%; (iii) financial multiples of companies in the same industry as RTC Canada; and (iv) adjustments because of the lack of control or lack of marketability that market participants would consider when estimating the fair value of the noncontrolling interest in RTC Canada.

The preliminary purchase price was allocated based on the fair values of the assets and liabilities at the date of acquisition as follows (in thousands):

Cash	$	4,310
Accounts receivable		19,072
Inventory		56,255
Property and equipment, including real estate		80,337
Floor plan notes payable		(30,501	)
Trade payables		(19,978	)
Customer deposits		(1,980	)
Accrued liabilities		(7,875	)
Notes payable		(69,545	)
Goodwill		44,033
Franchise rights		3,906
Other		3,422
Equity investment in RTC Canada		(37,309	)
Noncontrolling interest		(17,828	)
Gain on equity method investment		(6,958	)

Total	$	19,361

The purchase price allocation has not yet been finalized. The Company is currently working with RTC Canada to obtain additional information that existed at the time of the acquisition related to property and equipment, inventory and valuation of intangible assets. Management has recorded the purchase price allocations based upon currently available information about RTC Canada. The goodwill of $47.9 million for the RTC Canada acquisition is primarily attributable to the synergies expected to arise after obtaining a controlling interest in the entity.

Prior to May 2, 2022, the Company accounted for its 50% equity interest in RTC Canada as an equity-method investment. Subsequent to the Company’s acquisition of the additional 30% equity interest on May 2, 2022, operations of RTC Canada are included in the accompanying consolidated financial statements.

On December 13, 2021, the Company completed the acquisition of certain of the assets of Summit Truck Group, LLC and certain of its subsidiaries and affiliates (collectively, “Summit”) which included full-service commercial vehicle dealerships and Idealease franchises in Arkansas, Kansas, Missouri, Tennessee and Texas. The acquisition included Summit’s dealerships representing International, IC Bus, Idealease, Isuzu and other commercial vehicle manufacturers for a purchase price of approximately $205.3 million, excluding the real property associated with the transaction. The Company financed approximately $102.0 million of the purchase price under its floor plan and lease and rental truck financing arrangements and the remainder of the purchase price was paid in cash. In addition, the Company purchased certain real property owned by Summit for a purchase price of approximately $57.0 million, which was paid in cash.

The operations of Summit are included in the accompanying consolidated financial statements from the date of the acquisition. The purchase price was allocated based on the fair values of the assets and liabilities at the date of acquisition as follows (in thousands):

Goodwill	$	74,413
Franchise rights		1,581
Inventory		72,070
Property and equipment, including real estate		113,306
Other		882

Total	$	262,252

The goodwill of $74.4 million for the Summit acquisition is primarily attributable to the synergies expected to arise after the acquisition. The goodwill acquired in the Summit acquisition will be amortized over 15 years for tax purposes.

Note 16 - Segments

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

16.

SEGMENTS:

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 operating income.

The Company accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current market prices. There were no material intersegment sales during the years ended December 31, 2022, 2021 or 2020.

The following table contains summarized information about reportable segment revenue, segment income or loss from continuing operations and segment assets for the periods ended December 31, 2022, 2021 and 2020 (in thousands):

	Truck		All
	Segment		Other		Totals
2022
Revenues from external customers	$	7,084,847	$	16,821	$	7,101,668
Interest income		639		-		639
Interest expense		19,763		-		19,763
Depreciation and amortization		55,354		311		55,665
Segment operating income		505,415		698		506,113
Segment income from continuing operations before taxes		508,629		698		509,327
Segment assets		3,769,007		52,059		3,821,066
Goodwill		413,803		2,560		416,363
Expenditures for segment assets		242,503		557		243,060

2021
Revenues from external customers	$	5,109,070	$	17,072	$	5,126,142
Interest income		657		-		657
Interest expense		2,119		308		2,427
Depreciation and amortization		53,096		258		53,354
Segment operating income		307,394		1,642		309,036
Segment income from continuing operations before taxes		312,350		1,333		313,683
Segment assets		3,068,365		51,612		3,119,977
Goodwill		367,771		2,560		370,331
Expenditures for segment assets		163,624		3,553		167,177

2020
Revenues from external customers	$	4,721,058	$	14,882	$	4,735,940
Interest income		713		-		713
Interest expense		9,444		283		9,727
Depreciation and amortization		57,162		294		57,456
Segment operating income		153,841		764		154,605
Segment income from continuing operations before taxes		151,222		501		151,723
Segment assets		2,939,390		46,003		2,985,393
Goodwill		289,582		2,560		292,142
Expenditures for segment assets		135,956		244		136,200

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Note 17 - Revenue

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

17.

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 from 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, excluding lease and rental revenue, for the years ended December 31, 2022, December 31, 2021 and December 31, 2020 (in thousands):

	2022		2021		2020
Commercial vehicle sales revenue	$	4,351,370	$	3,039,953	$	2,863,309
Parts revenue		1,436,981		1,059,382		911,102
Commercial vehicle repair service revenue		935,458		733,981		689,343
Finance revenue		16,992		16,385		12,047
Insurance revenue		12,749		11,579		9,902
Other revenue		25,863		17,628		14,014
Total	$	6,779,413	$	4,878,908	$	4,499,717

All of the Company's performance obligations 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 December 31, 2022 or December 31, 2021. 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.

For the sale of new and used commercial vehicles, revenue is recognized at a point in time when control is transferred to the customer, which is when delivery of the commercial vehicle occurs. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring the commercial vehicle. When control is transferred to the customer, the Company has an unconditional right to payment and a receivable is recorded for any consideration not received.

The Company controls the commercial vehicle before it is transferred to the customer and it obtains all of the remaining benefits from the commercial vehicle relating to the sale, ability to pledge the asset or hold the asset. The Company is a principal in all commercial vehicle transactions. The Company retains inventory risk, determines the selling price to the customer and delivers the commercial vehicle to the customer. The Company generally pays a commission to internal sales representatives for the sale of a commercial vehicle. The Company will continue to expense the commission and recognize it concurrently with the respective commercial vehicle sale revenue upon delivery of the commercial vehicle to a customer.

Revenue from the sale of parts is recognized when the Company transfers control of the goods to the customer and consideration has been received in the form of cash or a receivable from the customer. The Company provides its customers the right to return certain eligible parts, estimates the expected returns based on an analysis of historical experience and records an allowance for estimated returns, which has historically not been material.

Revenue from the sale of commercial vehicle repair service is recognized when the service performed by the Company on a customer’s vehicle is complete and the customer accepts the repair. Because the Company does not have an enforceable right to payment while the repair is being performed, revenue is recognized when the repair is complete. After a customer’s acceptance, the Company has no remaining obligations to transfer goods or services to the customer and consideration has been received in the form of cash or a receivable from the customer.

Any remaining performance obligations represent service orders for which work has not been completed. The Company’s service contracts are predominantly short-term in nature with a contract term of one month or less. For those contracts, the Company has utilized the practical expedient in Topic 606 exempting the Company from disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less.

The Company receives commissions from third-party lenders for arranging customer financing for the purchase of commercial vehicles. The receipt of such commissions is deemed to be a single performance obligation that is satisfied when a financing agreement is executed and accepted by the financing provider. Once the contract has been accepted by the financing provider, the Company’s performance obligation has been satisfied and the Company generally has no further obligations under the contract. The Company is the agent in this transaction, as it does not have control over the acceptance of the customer’s financing arrangement by the financing provider. Consideration paid to the Company by the financing provider is based on the agreement between the Company and the financing provider.

The Company receives commissions from third-party insurance companies for arranging insurance coverage for customers. The receipt of such commissions is deemed to be a single performance obligation that is satisfied when the insurance coverage is bound. The Company has no further obligations under the contract. The Company is the agent in this transaction because it does not have control over the insurance coverage provided by the insurance carrier. Consideration paid to the Company by the insurance provider is based on the agreement between the Company and the insurance provider.

The Company records revenues from finance and insurance products at the net commission amount, which includes estimates of chargebacks that can occur if the underlying contract is not fulfilled. Chargeback amounts for commissions from financing companies are estimated assuming financing contracts are terminated before the customer has made six monthly payments. Chargeback amounts for commissions from insurance companies are estimated assuming insurance contracts are terminated before the underlying insurance contractual term has expired. Chargeback reserve amounts are based on historical chargebacks and have historically been immaterial. The Company does not have any right to retrospective commissions based on future profitability of finance and insurance contracts arranged.

Other revenue consists mostly of documentation fees that are charged to customers in connection with the sale of a commercial vehicle and recognized as other revenue when a truck is sold. The Company recognizes the documentation fees at the point in time when the commercial vehicle is delivered to the customer.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Note 18 - Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

18.	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS):

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

Balance as of December 31, 2020	$	869
Foreign currency translation adjustment		(82	)
Balance as of December 31, 2021	$	787
Reclassification of currency translation related to equity method of RTC Canada		(601	)
Foreign currency translation adjustment		(4,316	)
Balance as of December 31, 2022		(4,130	)

The functional currency of the Company’s foreign subsidiary, RTC Canada, is its local currency. Results of operations of RTC Canada are translated in USD using the average exchange rates on a monthly basis during the year. The assets and liabilities of RTC Canada are translated into USD using the exchange rates in effect on the balance sheet date. The related translation adjustments are recorded in a separate component of stockholders' equity in accumulated other comprehensive loss and the statement of comprehensive income.

The Company reclassified the foreign currency translation adjustment related to its previously held equity investment in RTC Canada into net income upon its acquisition of a majority equity interest according to ASC 830-30, Foreign Currency Matters.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

Principles of ConsolidationThe consolidated financial statements presented herein include the accounts of Rush Enterprises, Inc. together with its consolidated subsidiaries. All significant inter-company balances and transactions have been eliminated in consolidation.

Use of Estimates, Policy [Policy Text Block]

Estimates in Financial StatementsThe preparation of the Company’s financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make certain estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the balance sheet date and the amounts of revenues and expenses recognized during the reporting period. Management analyzes the Company’s estimates based on historical experience and other assumptions that are believed to be reasonable under the circumstances, however, actual results could differ materially from such estimates.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash EquivalentsCash and cash equivalents generally consist of cash and other money market instruments. The Company considers all highly liquid investments with an original maturity of ninety days or less to be cash equivalents.

Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]

Allowance for Credit Losses and Repossession LossesThe Company maintains an allowance for credit losses based on the probability of default, its historical rate of losses, aging and current economic conditions. Accounts receivables consist primarily of commercial vehicle sales receivables, manufacturers’ receivables, leasing and parts and service receivables and other trade receivables. 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 Company provides an allowance for repossession losses after considering historical loss experience and other factors that might affect the ability of customers to meet their obligations on finance contracts sold by the Company when the Company has a potential liability.

Inventory, Policy [Policy Text Block]

InventoriesInventories are stated at the lower of cost or net realizable value. Cost is determined by specific identification of new and used commercial vehicle inventory and by the first-in, first-out method for tires, parts and accessories. As the market value of the Company’s inventory typically declines over time, reserves are established based on historical loss experience and market trends. These reserves are charged to cost of sales and reduce the carrying value of the Company’s inventory on hand. An allowance is provided when it is anticipated that cost will exceed net realizable value.

Property, Plant and Equipment, Policy [Policy Text Block]

Property and EquipmentProperty and equipment are stated at cost and depreciated over their estimated useful lives. Leasehold improvements are amortized over the useful life of the improvement, or the term of the lease, whichever is shorter. Provision for depreciation of property and equipment is calculated primarily on a straight-line basis. The Company capitalizes interest on borrowings during the active construction period of major capital projects. Capitalized interest, when incurred, is added to the cost of the underlying assets and is amortized over the estimated useful life of such assets. The cost, accumulated depreciation and amortization and estimated useful lives of the Company’s property and equipment are summarized as follows (in thousands):

	2022			2021			Estimated Life (Years)
Land	$	162,641		$	156,169			–
Buildings and improvements		570,595			552,965		10	–	39
Leasehold improvements		42,236			39,665		2	–	39
Machinery and shop equipment		96,584			92,762		5	–	20
Furniture, fixtures and computers		98,609			84,728		3	–	15
Transportation equipment		116,327			103,611		3	–	15
Lease and rental vehicles		1,067,006			947,318		1	–	8
Construction in progress		14,585			6,664
Accumulated depreciation and amortization		(799,989	)		(705,675	)

Total	$	1,368,594		$	1,278,207

The Company recorded depreciation expense of $177.1 million and amortization expense of $22.1 million for the year ended December 31, 2022, depreciation expense of $148.3 million and amortization expense of $21.2 million for the year ended December 31, 2021, and depreciation expense of $157.8 million and amortization expense of $19.5 million for the year ended December 31, 2020.As of December 31, 2022, the Company had $114.7 million in lease and rental vehicles under various finance leases included in property and equipment, net of accumulated amortization of $49.1 million. The Company recorded depreciation and amortization expense of $143.5 million related to lease and rental vehicles in lease and rental cost of products sold for the year ended December 31, 2022, $116.1 million for the year ended December 31, 2021 and $119.9 million for the year ended December 31, 2020.

Goodwill and Intangible Assets, Policy [Policy Text Block]

Purchase Price Allocation, Intangible Assets and GoodwillPurchase price allocation for business combinations and asset acquisitions requires the use of accounting estimates and judgments to allocate the purchase price to the identifiable tangible and intangible assets acquired and liabilities assumed based on their respective fair values. The Company determines whether substantially all the fair value of the gross assets acquired are concentrated in a single identifiable asset or a group of similar identifiable assets. If so, the single asset or group of assets, as applicable, is not a business. If not, the Company determines whether the single asset or group of assets, as applicable, meets the definition of a business.In connection with the Company’s business combinations, it records certain intangible assets, including franchise rights. The Company periodically reviews the estimated useful lives and fair values of its identifiable intangible assets, taking into consideration any events or circumstances that might result in a diminished fair value or revised useful life. See Note 15 – Acquisitions in the Notes to the Financial Statements for further discussion.Goodwill represents the excess, at the date of acquisition, of the purchase price of an acquired business over the fair value of the net tangible and intangible assets acquired. In addition to goodwill, the Company recognizes separately identifiable intangible assets for rights under franchise agreements with manufacturers.The fair value of the intangible 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 $12.3 million as of December 31, 2022 and $8.6 million as of December 31, 2021, 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 a 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. 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 Company assesses goodwill and intangible franchise rights for impairment annually in the fourth quarter, or whenever events or changes in circumstances indicate an impairment may have occurred. If impaired, the carrying values of the assets are written down to fair value using Level 3 inputs. See Fair Value Measurements below for further discussion of Level 3 fair value inputs.For the annual goodwill and intangible franchise rights impairment assessment conducted in the fourth quarter of 2022, the Company elected to perform a qualitative assessment and determined that it was not more-likely-than-not that the fair values of the Company’s reporting units were less than their carrying values.No impairments of goodwill or intangible franchise rights were recorded during the years ended December 31, 2022, 2021 and 2020.The following table sets forth the change in the carrying amount of goodwill for the Company for the year ended December 31, 2022 (in thousands):

Balance December 31, 2021	$	370,331
Acquisitions during 2022		47,437
Currency translation		(1,405	)
Balance December 31, 2022	$	416,363

Equity Method Investments [Policy Text Block]

Equity Method InvestmentsOn February 25, 2019, the Company acquired 50% of the equity interest in RTC Canada, which acquired the operating assets of Tallman Group, the largest International Truck dealer in Canada. Prior to acquiring an additional 30% equity interest on May 2, 2022, for approximately $20.0 million, the Company accounted for the equity interest in RTC Canada using the equity method of accounting. Subsequent to the Company’s acquisition of the additional 30% equity interest on May 2, 2022, operations of RTC Canada are included in the accompanying consolidated financial statements. Income (loss) related to the 20% equity owner of RTC Canada is reflected in the accompanying consolidated financial statements as a noncontrolling interest. See Note 15 – Acquisitions in the Notes to the Financial Statements for further discussion.On January 3, 2022, a subsidiary of Cummins, Inc. acquired a 50% equity interest in Natural Gas Fuel Systems, LLC (“NGFS”) from the Company for $27.5 million. NGFS previously conducted business as Momentum Fuel Technologies. The $12.5 million gain realized on the transaction is included in Other income on the Consolidated Statements of Income. The Company is accounting for the business as a joint venture and recognizes the investment using the equity method. The Company’s equity income in NGFS is included in the line item Other income on the Consolidated Statements of Income.

Income Tax, Policy [Policy Text Block]

Income TaxesManagement’s judgment is required to determine the provisions for income taxes and to determine whether deferred tax assets will be realized in full or in part. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. When it is more likely than not that all or some portion of specific deferred income tax assets will not be realized, a valuation allowance must be established for the amount of deferred income tax assets that are determined not to be realizable. Accordingly, the facts and financial circumstances impacting deferred income tax assets are reviewed quarterly and management’s judgment is applied to determine the amount of valuation allowance required, if any, in any given period.In determining its provision for income taxes, the Company uses an annual effective income tax rate based on annual income, permanent differences between book and tax income, and statutory income tax rates. The effective income tax rate also reflects its assessment of the ultimate outcome of tax audits. The Company adjusts its annual effective income tax rate as additional information on outcomes or events becomes available. Discrete events such as audit settlements or changes in tax laws are recognized in the period in which they occur.The Company’s income tax returns are periodically audited by tax authorities. These audits include questions regarding the Company’s tax filing positions, including the timing and amount of deductions. In evaluating the exposures associated with its various tax filing positions, the Company adjusts its liability for unrecognized tax benefits and income tax provision in the period in which an uncertain tax position is effectively settled, the statute of limitations expires for the relevant taxing authority to examine the tax position or when more information becomes available.The Company’s liability for unrecognized tax benefits contains uncertainties because management is required to make assumptions and to apply judgment to estimate the exposures associated with its various filing positions. The Company’s effective income tax rate is also affected by changes in tax law, the level of earnings and the results of tax audits. Although the Company believes that the judgments and estimates are reasonable, actual results could differ, and the Company may be exposed to losses or gains that could be material. An unfavorable tax settlement would generally require use of the Company’s cash and result in an increase in its effective income tax rate in the period of resolution. A favorable tax settlement would be recognized as a reduction in the Company’s effective income tax rate in the period of resolution. The Company’s income tax expense includes the impact of reserve provisions and changes to reserves that it considers appropriate, as well as related interest.

Revenue [Policy Text Block]

Revenue Recognition PoliciesThe Company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that the Company determines are within the scope of ASU 2014-09, Revenue from Contracts with Customers ("Topic 606"), the Company performs the following five steps: (i) identify the contract with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that it will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of Topic 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations. The Company then assesses whether each promised good or service is distinct and recognize as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. For a complete discussion of accounting for revenue, see Note 17 – Revenue of the Notes to Consolidated Financial Statements.

Lessor, Leases [Policy Text Block]

Rental and Lease SalesThe Company leases commercial vehicles that the Company owns to customers. Lease and rental revenue is recognized over the period of the related lease or rental agreement. Variable rental revenue is recognized when it is earned.

Cost of Goods and Service [Policy Text Block]

Cost of SalesFor the Company’s new and used commercial vehicle operations, cost of sales consists primarily of the Company’s actual purchase price, plus make-ready expenses, less any applicable manufacturers’ incentives. For the Company’s parts operations, cost of sales consists primarily of the Company’s actual purchase price, less any applicable manufacturers’ incentives. For the Company’s service and collision center operations, technician labor cost is the primary component of cost of sales. For the Company’s rental and leasing operations, cost of sales consists primarily of depreciation and amortization, rent, maintenance costs, license costs and interest expense considered direct and incremental on the lease and rental fleet owned and leased by the Company. There are no costs of sales associated with the Company’s finance and insurance revenue or other revenue.

Lessee and Lessor Leases [Policy Text Block]

LeasesThe Company leases commercial vehicles and real estate under finance and operating leases. The Company determines whether an arrangement is a lease at its inception. For leases with terms greater than twelve months, the Company records a lease asset and liability at the present value of lease payments over the term. Many of the Company’s leases include renewal options and termination options that are factored into its determination of lease payments when appropriate.When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of its leases do not provide a readily determinable implicit rate. Therefore, the Company must estimate its incremental borrowing rate to discount the lease payments based on information available at lease commencement.

Sales Taxes, Policy [Policy Text Block]

Taxes Assessed by a Governmental Authority The Company accounts for sales taxes assessed by a governmental authority that are directly imposed on a revenue-producing transaction on a net (excluded from revenues) basis.

Selling, General and Administrative Expenses, Policy [Policy Text Block]

Selling, General and Administrative ExpensesSelling, general and administrative expenses consist primarily of incentive based compensation for sales, finance and general management personnel, salaries for administrative personnel and expenses for rent, marketing, insurance, utilities and other general operating purposes.

Share-Based Payment Arrangement [Policy Text Block]

Stock Based CompensationThe Company applies the provisions of ASC topic 718-10, “Compensation – Stock Compensation,” which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors, including grants of employee stock options, restricted stock units, restricted stock awards and employee stock purchases under the Employee Stock Purchase Plan, based on estimated fair values.The Company uses the Black-Scholes option-pricing model to estimate the fair value of share-based payment awards on the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service periods.Compensation expense for all share-based payment awards is recognized using the straight-line single-option method. Stock-based compensation expense is recognized based on awards expected to vest. Accordingly, stock based compensation expense has been reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.The Company determines the fair value of share-based payment awards on the date of grant using an option-pricing model that is affected by the Company’s stock price, as well as assumptions regarding a number of highly complex and subjective variables. These variables include the Company’s expected stock price volatility over the term of the awards and actual and projected stock option exercise behaviors. Option-pricing models were developed for use in estimating the value of traded options that have no vesting or hedging restrictions and are fully transferable. Because the Company’s stock options have characteristics that are significantly different from traded options and because changes in the subjective assumptions can materially affect the estimated value, in management’s opinion, the existing valuation models may not provide an accurate measure of fair value and it may not be indicative of the fair value observed in a market transaction between a willing buyer and a willing seller.The following table reflects the weighted-average fair value of stock options granted during each period using the Black-Scholes option valuation model with the following weighted-average assumptions used:

	2022			2021			2020
Weighted-average stock volatility		34.97	%		36.03	%		33.11	%
Expected dividend yield		1.44	%		1.65	%		1.20	%
Risk-free interest rate		2.13	%		1.07	%		0.80	%
Expected life (years)		6.0			6.0			6.0
Weighted-average fair value of stock options granted	$	16.81		$	14.77		$	6.36

Advertising Cost [Policy Text Block]

Advertising CostsAdvertising costs are expensed as incurred. Advertising and marketing expense was $8.7 million for 2022, $7.5 million for 2021 and $7.9 million for 2020. Advertising and marketing expense is included in selling, general and administrative expense.

Internal Use Software, Policy [Policy Text Block]

Accounting for Internal Use SoftwareThe Company’s accounting policy with respect to accounting for computer software developed or obtained for internal use is consistent with ASC topic 350-40 (Internal Use Software), which provides guidance on accounting for the costs of computer software developed or obtained for internal use and identifies characteristics of internal-use software. The Company has capitalized software costs, including capitalized interest, of approximately $4.2 million as of December 31, 2022, net of accumulated amortization of $14.9 million, and had $5.5 million as of December 31, 2021, net of accumulated amortization of $13.6 million.

Unpaid Policy Claims and Claims Adjustment Expense, Policy [Policy Text Block]

InsuranceThe Company is partially self-insured for a portion of the claims related to its property and casualty insurance programs. Accordingly, the Company is required to estimate expected losses to be incurred. The Company engages a third-party administrator to assess any open claims and the Company adjusts its accrual accordingly on an annual basis. The Company is also partially self-insured for a portion of the claims related to its worker’s compensation and medical insurance programs. The Company uses actuarial information provided from third-party administrators to calculate an accrual for claims incurred, but not reported, and for the remaining portion of claims that have been reported.

Fair Value Measurement, Policy [Policy Text Block]

Fair Value MeasurementsThe Company has various financial instruments that it must measure at fair value on a recurring basis. See Note 9 – Financial Instruments and Fair Value of the Notes to Consolidated Financial Statements, for further information. The Company also applies the provisions of fair value measurement to various nonrecurring measurements for its financial and nonfinancial assets and liabilities.Applicable accounting standards define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The Company measures its assets and liabilities using inputs from the following three levels of the fair value hierarchy:Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs).Level 3 includes unobservable inputs that reflect the Company’s assumptions about what factors market participants would use in pricing the asset or liability. The Company develops these inputs based on the best information available, including its own data.

Business Combinations Policy [Policy Text Block]

AcquisitionsThe Company uses the acquisition method of accounting for the recognition of assets acquired and liabilities assumed through acquisitions at their estimated fair values as of the date of acquisition. The purchase price allocation for business combinations and asset acquisitions requires the use of accounting estimates and judgments to allocate the purchase price to the identifiable tangible and intangible assets acquired and liabilities assumed based on their respective fair values. As a result, during the measurement period, which is not to exceed one year from the date of acquisition, any changes in the estimated fair values of the net assets recorded for the acquisitions will result in an adjustment to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded in the Consolidated Statements of Income.

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848).” In January 2021, the FASB clarified the scope of that guidance with the issuance of ASU 2021-01, “Reference Rate Reform: Scope.” The new accounting rules provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform. In December 2022, the FASB deferred the expiration date of Topic 848 with the issuance of ASU 2022-06, “Reference Rate Reform: Deferral of the Sunset Date of Topic 848.” The new accounting rules extend the relief in Topic 848 beyond the cessation date of USD LIBOR. The new accounting rules must be adopted by the fourth quarter of 2024. The Company is currently in the process of evaluating the impact of adoption of the new rules on the Company’s financial condition, results of operations, cash flows and disclosures.

Note 2 - Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Property, Plant and Equipment [Table Text Block]

	2022			2021			Estimated Life (Years)
Land	$	162,641		$	156,169			–
Buildings and improvements		570,595			552,965		10	–	39
Leasehold improvements		42,236			39,665		2	–	39
Machinery and shop equipment		96,584			92,762		5	–	20
Furniture, fixtures and computers		98,609			84,728		3	–	15
Transportation equipment		116,327			103,611		3	–	15
Lease and rental vehicles		1,067,006			947,318		1	–	8
Construction in progress		14,585			6,664
Accumulated depreciation and amortization		(799,989	)		(705,675	)

Total	$	1,368,594		$	1,278,207

Schedule of Goodwill [Table Text Block]

Balance December 31, 2021	$	370,331
Acquisitions during 2022		47,437
Currency translation		(1,405	)
Balance December 31, 2022	$	416,363

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	2022			2021			2020
Weighted-average stock volatility		34.97	%		36.03	%		33.11	%
Expected dividend yield		1.44	%		1.65	%		1.20	%
Risk-free interest rate		2.13	%		1.07	%		0.80	%
Expected life (years)		6.0			6.0			6.0
Weighted-average fair value of stock options granted	$	16.81		$	14.77		$	6.36

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Note 4 - Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	December 31,
	2022			2021

Trade accounts receivable from sale of vehicles	$	83,158		$	37,599
Trade receivables other than vehicles		96,978			68,884
Warranty claims		13,060			9,290
Other accounts receivable		29,776			26,003
Less allowance for credit losses		(2,322	)		(1,590	)

Total	$	220,651		$	140,186

Note 5 - Inventories (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Inventory, Current [Table Text Block]

	December 31,
	2022			2021

New commercial vehicles	$	955,485		$	617,225
Used commercial vehicles		86,306			95,051
Parts and accessories		369,562			290,007
Other		34,564			26,232
Less allowance		(16,488	)		(8,379	)

Total	$	1,429,429		$	1,020,136

Note 6 - Valuation Accounts (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Summary of Valuation Allowance [Table Text Block]

	Balance Beginning of Year		Net Charged to Costs and Expenses			Net Write- Offs			Balance End of Year

2022
Reserve for parts inventory	$	7,460	$	7,378		$	(5,415	)	$	9,423
Reserve for commercial vehicle inventory		919		13,653			(7,507	)		7,065

2021
Reserve for parts inventory	$	9,315	$	3,520		$	(5,375	)	$	7,460
Reserve for commercial vehicle inventory		6,075		(536	)		(4,620	)		919

2020
Reserve for parts inventory	$	7,661	$	4,501		$	(2,847	)	$	9,315
Reserve for commercial vehicle inventory		9,602		9,598			(13,125	)		6,075

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

	Balance December 31, 2021		Provision for the Year Ended December 31, 2022		Write offs Against Allowance, net of Recoveries			Balance December 31, 2022

Commercial vehicle receivables	$	76	$	105	$	(21	)	$	160
Manufacturers’ receivables		419		2,580		(2,426	)		573
Leasing, parts and service receivables		1,069		2,673		(2,153	)		1,589
Other receivables		26		-		(26	)		-
Total	$	1,590	$	5,358	$	(4,626	)	$	2,322

Note 7 - Floor Plan Notes Payable and Lines of Credit (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Assets Pledged As Collateral [Table Text Block]

	December 31,
	2022		2021
Inventories, new and used vehicles at cost based on specific identification, net of allowance	$	1,034,727	$	711,358
Vehicle sale related accounts receivable		83,158		37,599
Total	$	1,117,885	$	748,957

Floor plan notes payable related to vehicles	$	933,203	$	630,731

Note 8 - Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Long-Term Debt Instruments [Table Text Block]

	December 31,
	2022		2021

Variable interest rate term notes	$	275,433	$	334,926
Less: current maturities		-		-

Total long-term debt, net of current maturities	$	275,433	$	334,926

Schedule of Maturities of Long-Term Debt [Table Text Block]

2023		-
2024		40,475
2025		185,024
2026		49,934
2027		-
Thereafter		-
Total	$	275,433

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21475-112644

+ Details

Note 10 - Leases (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Lease, Cost [Table Text Block]

		Year Ended
Component	Classification	December 31, 2022		December 31, 2021
Operating lease cost	SG&A expense	$	11,288	$	9,826
Operating lease cost	Lease and rental cost of products sold		6,081		4,449
Finance lease cost – amortization of right-of-use assets	Lease and rental cost of products sold		20,135		19,138
Finance lease cost – interest on lease liabilities	Lease and rental cost of products sold		4,783		5,749
Short-term lease cost	SG&A expense		413		135

	Year Ended
	December 31, 2022		December 31, 2021
Operating cash flow information:
Cash paid for amounts included in the measurement of lease liabilities	$	21,874	$	20,024
Financing cash flow information:
Cash paid for amounts included in the measurement of lease liabilities	$	14,780	$	13,774
Non-cash activity:
Operating lease right-of-use assets obtained in exchange for lease obligations	$	54,385	$	24,802

	Finance Leases			Operating
Weighted-average remaining lease term (in months)		44			122
Weighted-average discount rate		4.3	%		4.3	%

Lessee, Lease Liability, Maturity [Table Text Block]

	Finance Leases			Operating Leases
2023	$	33,854		$	18,297
2024		32,863			18,274
2025		26,930			14,245
2026		18,752			13,149
2027		11,553			10,923
2028 and beyond		11,948			58,167
Total lease payments	$	135,900		$	133,055
Less: Imputed interest		(13,208	)		(29,023	)
Present value of lease liabilities	$	122,692		$	104,032

Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity [Table Text Block]

2023	$	157,666
2024		124,174
2025		88,974
2026		55,871
2027		30,388
Thereafter		15,825
Total	$	472,898

Leases, Lease Income [Table Text Block]

	2022		2021
Minimum rental payments	$	278,330	$	214,400
Nonlease payments		43,927		32,834
Total	$	322,257	$	247,234

Note 11 - Share Based Compensation and Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Share-Based Payment Arrangement, Option, Activity [Table Text Block]

						Weighted
				Weighted		Average
				Average		Remaining		Aggregate
				Exercise		Contractual		Intrinsic
Options	Shares			Price		Life (in Years)		Value

Balance of Outstanding Options at January 1, 2022		3,804,976		$	26.31
Granted		511,900			53.04
Exercised		(376,860	)		21.31
Forfeited		(24,750	)		39.20
Balance of Outstanding Options at December 31, 2022		3,915,266		$	30.20		6.0	$	86,815,673
Expected to vest after December 31, 2022		2,375,412		$	35.73		7.4	$	39,675,140
Vested and exercisable at December 31, 2022		1,514,871		$	21.24		3.8	$	47,018,146

Schedule of Nonvested Share Activity [Table Text Block]

				Weighted
				Average
	Number of			Grant Date
Non-vested Shares	Shares			Fair Value

Non-vested at January 1, 2022		2,576,614		$	9.35
Granted		511,900			16.81
Vested		(663,369	)		8.96
Forfeited		(24,750	)		12.05
Non-vested at December 31, 2022		2,400,395		$	11.02

Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]

				Weighted
				Average				Weighted
				Remaining		Aggregate		Average
				Contractual		Intrinsic		Grant Date
Stock Awards and Units	Shares			Life (in Years)		Value		Fair Value

Outstanding non-vested shares at January 1, 2022		843,820						$	31.97
Granted		368,109							50.00
Vested		(458,252	)						30.14
Forfeited		(1,000	)						49.90
Outstanding non-vested at December 31, 2022		752,677			8.4	$	42,353,135		41.87
Expected to vest after December 31, 2022		751,079			8.4	$	42,263,234

Note 12 - Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

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

	2022		2021		2020
Numerator-
Numerator for basic and diluted earnings per share − Net income available to common shareholders	$	391,382	$	241,415	$	114,887
Denominator-
Denominator for basic earnings per share – weighted average shares outstanding		55,400		55,892		54,866
Effect of dilutive securities− Employee and director stock options and restricted share awards		1,751		1,986		1,376
Denominator for diluted earnings per share − adjusted weighted average shares outstanding and assumed conversions		57,151		57,878		56,242
Basic earnings per common share	$	7.06	$	4.32	$	2.09
Diluted earnings per common share and common share equivalents	$	6.85	$	4.17	$	2.04

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

		2022				2021				2020
Anti-dilutive options – weighted average			847				437				1,349

Note 13 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year Ended December 31,
	2022			2021			2020
Income before income taxes:
Domestic	$	502,141		$	307,260		$	146,055
Foreign		7,186			6,423			5,668
Total		509,327			313,683			151,723

Current provision
Federal	$	93,942		$	47,475		$	67,988
State		16,516			10,759			6,706
Foreign		2,523			-			-
Total		112,981			58,234			74,694
Deferred provision (benefit)
Federal		7,975			13,809			(37,683	)
State		(565	)		(631	)		(1,254	)
Foreign		(3,149	)		856			1,079
Total		4,261			14,034			(37,858	)
Provision for income taxes	$	117,242		$	72,268		$	36,836

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year Ended December 31,
	2022			2021			2020
Income taxes at the federal statutory rate	$	106,959		$	65,694		$	31,862
State income taxes, net of federal benefit		12,708			7,874			4,487
Tax effect of permanent differences		(488	)		(2,502	)		283
Foreign tax rate differential		(2,134	)		(313	)		(111	)
Other, net		197			1,515			315
Provision for income taxes	$	117,242		$	72,268		$	36,836

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	December 31,
	2022			2021
Deferred income tax (assets) liabilities:
Inventory	$	(4,710	)	$	(2,704	)
Accounts receivable		(430	)		(349	)
Finance lease obligations		(28,514	)		(27,242	)
Finance and operating leases		(25,283	)		(16,379	)
Stock options		(7,525	)		(6,993	)
Accrued liabilities		(3,632	)		(5,768	)
State net operating loss carry forward		(1,268	)		(1,438	)
State tax credit		(77	)		(120	)
Other		(5,519	)		(2,765	)
Difference between book and tax basis- Operating lease assets		24,989			16,132
Difference between book and tax basis- Depreciation and amortization		203,939			188,099
Net deferred income tax liability	$	151,970		$	140,473

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	2022			2021			2020
Unrecognized tax benefits at beginning of period	$	4,309		$	3,306		$	3,007
Gross increases – tax positions in current year		2,025			1,512			651
Reductions due to lapse of statute of limitations		(957	)		(509	)		(352	)
Unrecognized tax benefits at end of period	$	5,377		$	4,309		$	3,306

Note 15 - Acquisitions (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

Cash	$	4,310
Accounts receivable		19,072
Inventory		56,255
Property and equipment, including real estate		80,337
Floor plan notes payable		(30,501	)
Trade payables		(19,978	)
Customer deposits		(1,980	)
Accrued liabilities		(7,875	)
Notes payable		(69,545	)
Goodwill		44,033
Franchise rights		3,906
Other		3,422
Equity investment in RTC Canada		(37,309	)
Noncontrolling interest		(17,828	)
Gain on equity method investment		(6,958	)

Total	$	19,361

Goodwill	$	74,413
Franchise rights		1,581
Inventory		72,070
Property and equipment, including real estate		113,306
Other		882

Total	$	262,252

Note 16 - Segments (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

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

	Truck		All
	Segment		Other		Totals
2022
Revenues from external customers	$	7,084,847	$	16,821	$	7,101,668
Interest income		639		-		639
Interest expense		19,763		-		19,763
Depreciation and amortization		55,354		311		55,665
Segment operating income		505,415		698		506,113
Segment income from continuing operations before taxes		508,629		698		509,327
Segment assets		3,769,007		52,059		3,821,066
Goodwill		413,803		2,560		416,363
Expenditures for segment assets		242,503		557		243,060

2021
Revenues from external customers	$	5,109,070	$	17,072	$	5,126,142
Interest income		657		-		657
Interest expense		2,119		308		2,427
Depreciation and amortization		53,096		258		53,354
Segment operating income		307,394		1,642		309,036
Segment income from continuing operations before taxes		312,350		1,333		313,683
Segment assets		3,068,365		51,612		3,119,977
Goodwill		367,771		2,560		370,331
Expenditures for segment assets		163,624		3,553		167,177

2020
Revenues from external customers	$	4,721,058	$	14,882	$	4,735,940
Interest income		713		-		713
Interest expense		9,444		283		9,727
Depreciation and amortization		57,162		294		57,456
Segment operating income		153,841		764		154,605
Segment income from continuing operations before taxes		151,222		501		151,723
Segment assets		2,939,390		46,003		2,985,393
Goodwill		289,582		2,560		292,142
Expenditures for segment assets		135,956		244		136,200

Note 17 - Revenue (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Disaggregation of Revenue [Table Text Block]

	2022		2021		2020
Commercial vehicle sales revenue	$	4,351,370	$	3,039,953	$	2,863,309
Parts revenue		1,436,981		1,059,382		911,102
Commercial vehicle repair service revenue		935,458		733,981		689,343
Finance revenue		16,992		16,385		12,047
Insurance revenue		12,749		11,579		9,902
Other revenue		25,863		17,628		14,014
Total	$	6,779,413	$	4,878,908	$	4,499,717

Note 18 - Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

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

Balance as of December 31, 2020	$	869
Foreign currency translation adjustment		(82	)
Balance as of December 31, 2021	$	787
Reclassification of currency translation related to equity method of RTC Canada		(601	)
Foreign currency translation adjustment		(4,316	)
Balance as of December 31, 2022		(4,130	)

Note 1 - Organization and Operations (Details Textual) - $ / shares	Oct. 12, 2020	Dec. 31, 2022	Dec. 31, 2021
Common Stock, Par or Stated Value Per Share		$ 0.01	$ 0.01
Common Class A [Member]
Additional Share Issued for Every Two Shares of Common Stock	1
Common Stock, Par or Stated Value Per Share	$ 0.01
Common Class B [Member]
Common Stock, Par or Stated Value Per Share	$ 0.01

Note 2 - Significant Accounting Policies (Details Textual) - USD ($) $ in Millions			12 Months Ended
	May 02, 2022	Jan. 03, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Feb. 25, 2019
Depreciation, Total			$ 177.1	$ 148.3	$ 157.8
Amortization, Total			22.1	21.2	19.5
Indefinite-Lived Franchise Rights			12.3	8.6
Advertising Expense			8.7	7.5	7.9
Capitalized Computer Software, Net, Ending Balance			4.2	5.5
Capitalized Computer Software, Accumulated Amortization			14.9	13.6
RTC Canada [Member]
Business Acquisition, Percentage of Voting Interests Acquired	30.00%
Business Combination, Consideration Transferred, Total	$ 20.0
RTC Canada [Member] \| RTC Canada [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	20.00%
Rush Truck Centres of Canada Limited [Member]
Equity Method Investment, Ownership Percentage						50.00%
Momentum Fuel Technologies [Member]
Equity Method Investment, Ownership Percentage		50.00%
Payments to Acquire Equity Method Investments		$ 27.5
Acquisition of Equity Method Investments, Realized Gain (Loss)		$ 12.5
Vehicles [Member]
Depreciation, Total			143.5	$ 116.1	$ 119.9
Finance Lease, Right-of-Use Asset, after Accumulated Amortization, Total			114.7
Finance Lease, Right-of-Use Asset, Accumulated Amortization			$ 49.1

Note 2 - Significant Accounting Policies - Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accumulated depreciation and amortization	$ (799,989)	$ (705,675)
Total	1,368,594	1,278,207
Land [Member]
Property and equipment, gross	162,641	156,169
Building and Building Improvements [Member]
Property and equipment, gross	$ 570,595	552,965
Building and Building Improvements [Member] \| Minimum [Member]
Property and equipment, estimated life (Year)	10 years
Building and Building Improvements [Member] \| Maximum [Member]
Property and equipment, estimated life (Year)	39 years
Leasehold Improvements [Member]
Property and equipment, gross	$ 42,236	39,665
Leasehold Improvements [Member] \| Minimum [Member]
Property and equipment, estimated life (Year)	2 years
Leasehold Improvements [Member] \| Maximum [Member]
Property and equipment, estimated life (Year)	39 years
Machinery and Equipment [Member]
Property and equipment, gross	$ 96,584	92,762
Machinery and Equipment [Member] \| Minimum [Member]
Property and equipment, estimated life (Year)	5 years
Machinery and Equipment [Member] \| Maximum [Member]
Property and equipment, estimated life (Year)	20 years
Furniture and Fixtures [Member]
Property and equipment, gross	$ 98,609	84,728
Furniture and Fixtures [Member] \| Minimum [Member]
Property and equipment, estimated life (Year)	3 years
Furniture and Fixtures [Member] \| Maximum [Member]
Property and equipment, estimated life (Year)	15 years
Transportation Equipment [Member]
Property and equipment, gross	$ 116,327	103,611
Transportation Equipment [Member] \| Minimum [Member]
Property and equipment, estimated life (Year)	3 years
Transportation Equipment [Member] \| Maximum [Member]
Property and equipment, estimated life (Year)	15 years
Vehicles [Member]
Property and equipment, gross	$ 1,067,006	947,318
Vehicles [Member] \| Minimum [Member]
Property and equipment, estimated life (Year)	1 year
Vehicles [Member] \| Maximum [Member]
Property and equipment, estimated life (Year)	8 years
Construction in Progress [Member]
Property and equipment, gross	$ 14,585	$ 6,664

Note 2 - Significant Accounting Policies - Change in Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Balance December 31, 2021	$ 370,331
Acquisitions during 2022	47,437
Currency translation	(1,405)
Balance December 31, 2022	$ 416,363

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Note 2 - Significant Accounting Policies - Fair Value Assumption (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Weighted-average stock volatility	34.97%	36.03%	33.11%
Expected dividend yield	1.44%	1.65%	1.20%
Risk-free interest rate	2.13%	1.07%	0.80%
Expected life (years) (Year)	6 years	6 years	6 years
Weighted-average fair value of stock options granted (in dollars per share)	$ 16.81	$ 14.77	$ 6.36

Note 3 - Supplier Concentration (Details Textual) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CAD ($)	May 31, 2022 CAD ($)	Oct. 01, 2021 USD ($)	Sep. 14, 2021 USD ($)
Line of Credit Facility, Maximum Borrowing Capacity				$ 20
RTC Canada Floor Plan Agreement [Member]
Line of Credit Facility, Maximum Borrowing Capacity					$ 116.7
Revolving Credit Facility [Member] \| RTC Canada [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 120.0
Line of Credit Facility, Additional Borrowing Capacity Upon Request						$ 20.0
BMO Harris Bank N.A. [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,000
WF Lenders [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity								$ 175
PLC Agreement [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity							$ 300
Product Concentration Risk [Member] \| Revenue Benchmark [Member] \| Sales of New Peterbilt Commercial Vehicles [Member]
Concentration Risk, Percentage	59.60%	62.50%	59.00%

Note 4 - Accounts Receivable (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2021
Total	$ 220,651	$ 140,186	$ 172,500

Note 4 - Accounts Receivable - Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2021
Warranty claims	$ 13,060	$ 9,290
Other accounts receivable	29,776	26,003
Less allowance for credit losses	(2,322)	(1,590)
Total	220,651	140,186	$ 172,500
Trade Accounts Receivable From Sale of Vehicles [Member]
Trade accounts receivable from sale of vehicles	83,158	37,599
Trade Receivable Other Than Vehicles [Member]
Trade accounts receivable from sale of vehicles	$ 96,978	$ 68,884

Note 5 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
New commercial vehicles	$ 955,485	$ 617,225
Used commercial vehicles	86,306	95,051
Parts and accessories	369,562	290,007
Other	34,564	26,232
Less allowance	(16,488)	(8,379)
Total	$ 1,429,429	$ 1,020,136

Note 6 - Valuation Accounts - Valuation and Allowance Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Parts Inventory [Member]
Balance	$ 7,460	$ 9,315	$ 7,661
Net Charged to Costs and Expenses	7,378	3,520	4,501
Net Write-Offs	(5,415)	(5,375)	(2,847)
Balance End of Year	9,423	7,460	9,315
Commercial Vehicle Inventory [Member]
Balance	919	6,075	9,602
Net Charged to Costs and Expenses	13,653	(536)	9,598
Net Write-Offs	(7,507)	(4,620)	(13,125)
Balance End of Year	$ 7,065	$ 919	$ 6,075

Note 6 - Valuation Accounts - Allowance for Accounts Receivable (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Balance	$ 1,590
Current period provision	5,358
Balance	2,322
Write offs against allowance, net of recoveries	(4,626)
Commercial Vehicle Receivables [Member]
Balance	76
Current period provision	105
Balance	160
Manufacturers' Receivables [Member]
Balance	419
Current period provision	2,580
Balance	573
Write offs against allowance, net of recoveries	(2,426)
Leasing, Parts and Service Receivables [Member]
Balance	1,069
Current period provision	2,673
Balance	1,589
Write offs against allowance, net of recoveries	(2,153)
Other Receivables [Member]
Balance	$ 26

Note 7 - Floor Plan Notes Payable and Lines of Credit (Details Textual) $ in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CAD ($)	Dec. 31, 2021 USD ($)
Line of Credit Facility, Maximum Borrowing Capacity	$ 20,000
Floor Plan Notes Payable	933,203		$ 630,731
Line of Credit Amount Pledged to Secure Letters of Credit	14,100
Line of Credit Facility, Remaining Borrowing Capacity	$ 5,900
Floor Plan Credit Agreement [Member]
Debt Instrument, Interest Rate, Effective Percentage	5.24%	5.24%
Floor Plan Notes Payable	$ 762,900
Debt, Weighted Average Interest Rate	1.56%	1.56%	0.42%
RTC Canada Floor Plan Agreement [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 116.7
Debt Instrument, Covenant, Maximum Percentage of Available Credit Limit for Inventory Purchases	20.00%	20.00%
Floor Plan Notes Payable	$ 44,600
London Interbank Offered Rate (LIBOR) [Member] \| RTC Canada Floor Plan Agreement [Member]
Debt Instrument, Basis Spread on Variable Rate	1.10%
CDOR [Member] \| RTC Canada Floor Plan Agreement [Member]
Debt Instrument, Basis Spread on Variable Rate	0.90%
BMO Harris Bank N.A. [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,000,000
BMO Harris Bank N.A. [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1.10%

Note 7 - Floor Plan Notes Payable and Lines of Credit - Assets Pledged as Collateral (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Inventories, new and used vehicles at cost based on specific identification, net of allowance	$ 1,429,429	$ 1,020,136
Total	3,821,066	3,119,977	$ 2,985,393
Floor Plan Notes Payable	933,203	630,731
Asset Pledged as Collateral [Member] \| Floor Plan Notes Payable [Member]
Inventories, new and used vehicles at cost based on specific identification, net of allowance	1,034,727	711,358
Vehicle sale related accounts receivable	83,158	37,599
Total	$ 1,117,885	$ 748,957

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124433192&loc=SL2890621-112765

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (bb)
-URI https://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(18))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

+ Details

Note 8 - Long-term Debt (Details Textual) $ in Millions, $ in Millions	May 31, 2022 CAD ($)	Oct. 01, 2021 USD ($)	Sep. 14, 2021 USD ($)	Dec. 31, 2022 USD ($)
Line of Credit Facility, Maximum Borrowing Capacity				$ 20
Revolving Credit Facility [Member] \| RTC Canada [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 120
Line of Credit Facility, Additional Borrowing Capacity Upon Request	$ 20
Revolving Credit Facility [Member] \| CDOR [Member] \| RTC Canada [Member]
Debt Instrument, Basis Spread on Variable Rate	1.35%
WF Lenders [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 175
WF Lenders [Member] \| Revolving Credit Facility [Member] \| Minimum [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			1.25%
WF Lenders [Member] \| Revolving Credit Facility [Member] \| Maximum [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			1.50%
PLC Agreement [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 300
PLC Agreement [Member] \| Revolving Credit Facility [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		1.55%
PLC Agreement [Member] \| Revolving Credit Facility [Member] \| Minimum [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		0.00%

Note 8 - Long-term Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Variable interest rate term notes	$ 275,433	$ 334,926
Total long-term debt, net of current maturities	$ 275,433	$ 334,926

Note 8 - Long-term Debt - Debt Maturities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
2024	$ 40,475
2025	185,024
2026	49,934
Total	$ 275,433

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Note 10 - Leases (Details Textual) - USD ($) $ in Millions	12 Months Ended
Note 10 - Leases (Details Textual) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Sublease Income	$ 41.7	$ 33.0
Lessee, Leases, Residual Value Guarantee, Amount	$ 64.4
Lessee, Operating Lease, Option To Terminate Term	1 year
Operating Lease, Expense	$ 2.8
Sales-type Lease, Lease Receivable	$ 6.0
Minimum [Member]
Lessee, Leases, Term of Contract	1 month
Lessee, Operating Lease, Term of Contract	1 year
Lessor, Leases, Term of Contract	1 year
Maximum [Member]
Lessee, Leases, Term of Contract	10 years
Lessee, Operating Lease, Term of Contract	83 years
Lessor, Leases, Term of Contract	10 years

Note 10 - Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Weighted-average remaining lease term, finance leases (Month)	44 months
Cash paid for amounts included in the measurement of lease liabilities	$ 21,874	$ 20,024
Weighted-average remaining lease term, operating leases (Month)	122 months
Weighted-average discount rate, finance leases	4.30%
Weighted-average discount rate, operating leases	4.30%
Cash paid for amounts included in the measurement of lease liabilities	$ 14,780	13,774	$ 11,192
Operating lease right-of-use assets obtained in exchange for lease obligations	54,385	24,802
Selling, General and Administrative Expenses [Member]
Operating lease cost	11,288	9,826
Short-term lease cost	413	135
Cost of Revenue, Lease and Rental [Member]
Operating lease cost	6,081	4,449
Depreciation and Amortization [Member]
Finance lease cost – amortization of right-of-use assets	20,135	19,138
Interest Expense [Member]
Finance lease cost – interest on lease liabilities	$ 4,783	$ 5,749

Note 10 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
2023, finance leases	$ 33,854
2023, operating leases	18,297
2024, finance leases	32,863
2024, operating leases	18,274
2025, finance leases	26,930
2025, operating leases	14,245
2026, finance leases	18,752
2026, operating leases	13,149
2027, finance leases	11,553
2027, operating leases	10,923
2028 and beyond, finance leases	11,948
2028 and beyond, operating leases	58,167
Total lease payments, finance leases	135,900
Total lease payments, operating leases	133,055
Less: Imputed interest, finance leases	(13,208)
Less: Imputed interest, operating leases	(29,023)
Present value of lease liabilities, finance leases	122,692
Present value of lease liabilities, operating leases	$ 104,032

Note 10 - Leases - Future Minimum Rental Receivable (Details) $ in Thousands	Dec. 31, 2022 USD ($)
2023	$ 157,666
2024	124,174
2025	88,974
2026	55,871
2027	30,388
Thereafter	15,825
Total	$ 472,898

Note 10 - Leases - Rental Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Minimum rental payments	$ 278,330	$ 214,400
Nonlease payments	43,927	32,834
Total	$ 322,257	$ 247,234	$ 236,223

Note 11 - Share Based Compensation and Employee Benefit Plans (Details Textual) - USD ($)				1 Months Ended	12 Months Ended
	Mar. 15, 2021	Jun. 16, 2020	Feb. 01, 2012	Oct. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	May 12, 2020
Share-Based Payment Arrangement, Expense					$ 25,300,000	$ 22,200,000	$ 19,400,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross					511,900
Proceeds from Stock Options Exercised					$ 13,300,000	18,300,000	23,500,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value					11,600,000	23,400,000	20,800,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested in Period, Fair Value					$ 5,900,000	$ 5,000,000.0	$ 4,500,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value					$ 16.81	$ 14.77	$ 6.36
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total					$ 10,600,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition					2 years 2 months 12 days
Deferred Compensation Plan [Member]
Deferred Compensation Arrangement with Individual, Vested Percentage					100.00%
Deferred Compensation Liability, Current, Total					$ 19,400,000	$ 21,300,000
Cash Surrender Value of Life Insurance					13,000,000.0	12,700,000
Rush 401 Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	10.00%	10.00%	10.00%
Defined Contribution Plan, Cost					$ 12,100,000	$ 8,200,000	$ 6,000,000.0
Rush 401 Plan [Member] \| Highly Compensated Employees [Member]
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent					15.00%
Rush 401 Plan [Member] \| Employees with Less than Five Years of Service [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	20.00%	5.00%	20.00%
Rush 401 Plan [Member] \| Employees with More Than Five Years of Service [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	40.00%	10.00%	40.00%
Rush 401 Plan [Member] \| Minimum [Member]
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent					1.00%
Rush 401 Plan [Member] \| Maximum [Member]
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent					50.00%
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value					$ 13,800,000
Granted, weighted average grant date fair value (in dollars per share)					$ 50.00	$ 44.86	$ 21.98
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total					$ 10,900,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition						1 year 3 months 18 days
Common Class A [Member]
Share Price					$ 52.28
Employee Stock Purchase Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Purchase Price of Common Stock, Percent					85.00%
Maximum Fair Value for Employee Stock Purchase Per Year					$ 25,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant					460,602
Common Stock, Capital Shares Reserved for Future Issuance					2,700,000
Stock Issued During Period, Shares, Employee Stock Purchase Plans					134,115	148,999
Number of Employees Eligible to Participate in Stock Purchase Plan					7,418
Number of Employees Participating in Stock Purchase Plan					2,104
The 2006 Non-Employee Director Stock Option Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized					750,000
Issuance of Cash for Non-employee Director Compensation, Percent					40.00%
The 2006 Non-Employee Director Stock Option Plan [Member] \| Common Class A [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant					134,643
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized					750,000
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture, Total					13,509	15,726
The 2006 Non-Employee Director Stock Option Plan [Member] \| Shares Issued to Three Non-employee Directors [Member] \| Common Class A [Member]
Stock Issued During Period, Shares, New Issues					2,757	2,875
Issuance of Stock and Cash for Non-employee Director Compensation					$ 145,000
The 2006 Non-Employee Director Stock Option Plan [Member] \| Shares Issued to Two Nonemployee Directors [Member] \| Common Class A [Member]
Stock Issued During Period, Shares, New Issues					1,654	2,013
Payment to Nonemployee Directors					$ 58,000	$ 43,500
Issuance of Stock and Cash for Non-employee Director Compensation						$ 145,000
The 2006 Non-Employee Director Stock Option Plan [Member] \| Shares Issued to One Nonemployee Director [Member] \| Common Class A [Member]
Stock Issued During Period, Shares, New Issues					1,930	1,725
Payment to Nonemployee Directors					$ 43,500	$ 58,000
The 2006 Non-Employee Director Stock Option Plan [Member] \| Shares Issued to One Director [Member] \| Common Class A [Member]
Stock Issued During Period, Shares, New Issues				1,350
Share-Based Payment Arrangement, Expense				$ 72,500
Amended and Restated 2007 Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period					10 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period					3 years
Amended and Restated 2007 Incentive Plan [Member] \| Common Class A [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant					1,756,629
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized					13,200,000			13,200,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Maximum Number of Shares Per Employee					150,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross					511,900	498,700
Amended and Restated 2007 Incentive Plan [Member] \| Common Class B [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant					955,225
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized								4,800,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Maximum Number of Shares Per Employee					150,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross					354,600	340,650
Amended and Restated 2007 Incentive Plan [Member] \| Common Class B [Member] \| Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized					4,800,000
Every 6 Months [Member] \| Employee Stock Purchase Plan [Member]
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Amount					$ 10,625

Note 11 - Share Based Compensation and Employee Benefit Plans - Stock Option (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares
Balance (in shares) \| shares	3,804,976
Balance, weighted average exercise price (in dollars per share) \| $ / shares	$ 26.31
Granted (in shares) \| shares	511,900
Granted, weighted average exercise price (in dollars per share) \| $ / shares	$ 53.04
Exercised (in shares) \| shares	(376,860)
Exercised, weighted average exercise price (in dollars per share) \| $ / shares	$ 21.31
Forfeited (in shares) \| shares	(24,750)
Forfeited, weighted average exercise price (in dollars per share) \| $ / shares	$ 39.20
Balance (in shares) \| shares	3,915,266
Balance, weighted average exercise price (in dollars per share) \| $ / shares	$ 30.20
Balance, weighted average remaining contractual life (Year)	6 years
Aggregate intrinsic value \| $	$ 86,815,673
Expected to vest (in shares) \| shares	2,375,412
Expected to vest, weighted average exercise price (in dollars per share) \| $ / shares	$ 35.73
Expected to vest, weighted average remaining contractual life (Year)	7 years 4 months 24 days
Expected to vest, aggregate intrinsic value \| $	$ 39,675,140
Vested and exercisable (in shares) \| shares	1,514,871
Vested and exercisable, weighted average exercise price (in dollars per share) \| $ / shares	$ 21.24
Vested and exercisable, weighted average remaining contractual life (Year)	3 years 9 months 18 days
Vested and exercisable, aggregate intrinsic value \| $	$ 47,018,146

Note 11 - Share Based Compensation and Employee Benefit Plans - Non-vested Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Non-vested balance (in shares)	2,576,614
Non-vested, weighted average grant date fair value (in dollars per share)	$ 9.35
Granted (in shares)	511,900
Weighted-average fair value of stock options granted (in dollars per share)	$ 16.81	$ 14.77	$ 6.36
Vested (in shares)	(663,369)
Vested, weighted average grant date fair value (in dollars per share)	$ 8.96
Forfeited (in shares)	(24,750)
Forfeited, weighted average grant date fair value (in dollars per share)	$ 12.05
Non-vested balance (in shares)	2,400,395	2,576,614
Non-vested, weighted average grant date fair value (in dollars per share)	$ 11.02	$ 9.35

Note 11 - Share Based Compensation and Employee Benefit Plans - Non-vested Restricted Stock Awards and RSU's (Details) - Restricted Stock [Member]	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares
Outstanding non-vested shares (in shares)	843,820
Outstanding non-vested, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 31.97
Granted (in shares)	368,109
Granted, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 50.00
Vested (in shares)	(458,252)
Vested, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 30.14
Forfeited (in shares)	(1,000)
Forfeited, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 49.90
Outstanding non-vested shares (in shares)	752,677
Outstanding non-vested, weighted average remaining contractual life (Year)	8 years 4 months 24 days
Outstanding non-vested, aggregate intrinsic value \| $	$ 42,353,135
Outstanding non-vested, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 41.87
Expected to vest (in shares)	751,079
Expected to vest, weighted average remaining contractual life (Year)	8 years 4 months 24 days
Expected to vest, aggregate intrinsic value \| $	$ 42,263,234

Note 12 - Earnings Per Share - Earnings Per Share Calculation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator for basic and diluted earnings per share − Net income available to common shareholders	$ 391,382	$ 241,415	$ 114,887
Denominator for basic earnings per share – weighted average shares outstanding (in shares)	55,400	55,892	54,866
Effect of dilutive securities− Employee and director stock options and restricted share awards (in shares)	1,751	1,986	1,376
Denominator for diluted earnings per share − adjusted weighted average shares outstanding and assumed conversions (in shares)	57,151	57,878	56,242
Basic earnings per common share (in dollars per share)	$ 7.06	$ 4.32	$ 2.09
Diluted earnings per common share and common share equivalents (in dollars per share)	$ 6.85	$ 4.17	$ 2.04

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 18
-URI https://asc.fasb.org/extlink&oid=126929396&loc=SL4613673-111683

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.13)
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

+ Details

- Definition

The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(20))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-03(13))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868656-224227

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

+ Details

- Definition

The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-03(13))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868656-224227

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

+ Details

Note 12 - Earnings Per Share - Anti-dilutive Securities (Details) - shares	12 Months Ended		36 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022
Anti-dilutive options – weighted average (in shares)	437	1,349	847

Note 13 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
Note 13 - Income Taxes (Details Textual) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 5,300,000	$ 4,300,000
Unrecognized Tax Benefits, Interest on Income Taxes Expense	22,800	129,660	$ 6,150
Unrecognized Tax Benefits, Income Tax Penalties Accrued	0
Unrecognized Tax Benefits, Interest on Income Taxes Accrued	302,000	$ 279,000	$ 150,000
Undistributed Earnings of Foreign Subsidiaries	$ 18,900,000
Effective Income Tax Rate Reconciliation, Dividend Received Deduction, Percent	100.00%
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	$ 23,500,000
Deferred Tax Assets, Operating Loss Carryforwards, Total	$ 1,300,000
Open Tax Year	2017 2018 2019 2020 2021 2022
State and Local Jurisdiction [Member] \| Deferred Tax Assets Related to Operating Loss Carryforwards [Member]
Deferred Tax Assets, Valuation Allowance	$ 0
Domestic Tax Authority [Member]
Open Tax Year	2018 2019 2020 2021 2022

Note 13 - Income Taxes - Income Tax Expense (Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Domestic	$ 502,141	$ 307,260	$ 146,055
Foreign	7,186	6,423	5,668
Income before taxes	509,327	313,683	151,723
Current provision
Federal	93,942	47,475	67,988
State	16,516	10,759	6,706
Foreign	2,523
Total	112,981	58,234	74,694
Deferred provision (benefit)
Federal	7,975	13,809	(37,683)
State	(565)	(631)	(1,254)
Foreign	(3,149)	856	1,079
Total	4,261	14,034	(37,858)
Provision for income taxes	$ 117,242	$ 72,268	$ 36,836

Note 13 - Income Taxes - Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income taxes at the federal statutory rate	$ 106,959	$ 65,694	$ 31,862
State income taxes, net of federal benefit	12,708	7,874	4,487
Tax effect of permanent differences	(488)	(2,502)	283
Foreign tax rate differential	(2,134)	(313)	(111)
Other, net	197	1,515	315
Provision for income taxes	$ 117,242	$ 72,268	$ 36,836

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Note 13 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred income tax (assets) liabilities:
Inventory	$ (4,710)	$ (2,704)
Accounts receivable	(430)	(349)
Finance lease obligations	(28,514)	(27,242)
Finance and operating leases	(25,283)	(16,379)
Stock options	(7,525)	(6,993)
Accrued liabilities	(3,632)	(5,768)
State net operating loss carry forward	(1,268)	(1,438)
State tax credit	(77)	(120)
Other	(5,519)	(2,765)
Difference between book and tax basis- Operating lease assets	24,989	16,132
Difference between book and tax basis- Depreciation and amortization	203,939	188,099
Net deferred income tax liability	$ 151,970	$ 140,473

Note 13 - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Unrecognized tax benefits at beginning of period	$ 4,309	$ 3,306	$ 3,007
Gross increases – tax positions in current year	2,025	1,512	651
Reductions due to lapse of statute of limitations	(957)	(509)	(352)
Unrecognized tax benefits at end of period	$ 5,377	$ 4,309	$ 3,306

Note 15 - Acquisitions (Details Textual) - USD ($) $ in Thousands				12 Months Ended
	Nov. 07, 2022	May 02, 2022	Dec. 13, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	May 01, 2022
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain				$ 6,958	$ (0)	$ (0)
Goodwill, Gross				$ 416,363	$ 370,331
RTC Canada [Member]
Equity Method Investment, Ownership Percentage		30.00%					50.00%
RTC Canada [Member]
Business Acquisition, Percentage of Voting Interests Acquired		30.00%
Business Combination, Step Acquisition, Equity Interest in Acquiree, Including Subsequent Acquisition, Percentage		80.00%
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage		50.00%
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value		$ 44,700
Deferred Tax Liabilities, Reclassification of Foreign Currency Translation Adjustment		2,200
Deferred Tax Liabilities, Re-measurement of Equity Method Investment		600
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value		17,828
Goodwill, Gross		47,900
Business Combination, Consideration Transferred, Total		$ 20,000
RTC Canada [Member] \| Measurement Input, Discount Rate [Member]
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Measurement Inputs		0.11
RTC Canada [Member] \| RTC Canada [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		20.00%
RTC Canada [Member] \| Other Income (Expense) [Member]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain		$ 7,000
Asset Purchase Agreement With Summit [Member]
Goodwill, Gross			$ 74,400
Business Combination, Consideration Transferred, Total			205,300
Business Combination, Consideration Transferred, Liabilities Incurred			102,000
Payments to Acquire Real Estate, Total			$ 57,000
Assets of Scheppers International Truck Center, Inc. [Member]
Payments to Acquire Productive Assets, Total	$ 6,800

Note 15 - Acquisitions - Fair Values of Assets and Liabilities Acquired (Details) - USD ($) $ in Thousands	May 02, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 13, 2021	Dec. 31, 2020
Goodwill		$ 416,363	$ 370,331		$ 292,142
RTC Canada [Member]
Cash	$ 4,310
Goodwill	44,033
Accounts receivable	19,072
Franchise rights	3,906
Inventory	56,255
Property and equipment, including real estate	80,337
Floor plan notes payable	(30,501)
Other	3,422
Trade payables	(19,978)
Total	37,309
Customer deposits	(1,980)
Accrued liabilities	(7,875)
Notes payable	(69,545)
Equity investment in RTC Canada	(37,309)
Noncontrolling interest	(17,828)
Gain on equity method investment	(6,958)
Total	$ 19,361
Asset Purchase Agreement With Summit [Member]
Goodwill				$ 74,413
Franchise rights				1,581
Inventory				72,070
Property and equipment, including real estate				113,306
Other				882
Total				262,252
Equity investment in RTC Canada				$ (262,252)

Note 16 - Segments (Details Textual)	12 Months Ended
Note 16 - Segments (Details Textual)	Dec. 31, 2022
Truck Segment [Member]
Number of Reportable Segments	1
Other Segments [Member]
Number of Operating Segments	3

Note 16 - Segments - Segment Reporting Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues from external customers	$ 7,101,668	$ 5,126,142	$ 4,735,940
Interest income	639	657	713
Interest expense	19,763	2,427	9,727
Depreciation and amortization	55,665	53,354	57,456
Segment operating income	506,113	309,036	154,605
Segment income from continuing operations before taxes	509,327	313,683	151,723
Segment assets	3,821,066	3,119,977	2,985,393
Goodwill	416,363	370,331	292,142
Expenditures for segment assets	243,060	167,177	136,200
Truck Segment [Member]
Revenues from external customers	7,084,847	5,109,070	4,721,058
Interest income	639	657	713
Interest expense	19,763	2,119	9,444
Depreciation and amortization	55,354	53,096	57,162
Segment operating income	505,415	307,394	153,841
Segment income from continuing operations before taxes	508,629	312,350	151,222
Segment assets	3,769,007	3,068,365	2,939,390
Goodwill	413,803	367,771	289,582
Expenditures for segment assets	242,503	163,624	135,956
Other Segments [Member]
Revenues from external customers	16,821	17,072	14,882
Interest expense	0	308	283
Depreciation and amortization	311	258	294
Segment operating income	698	1,642	764
Segment income from continuing operations before taxes	698	1,333	501
Segment assets	52,059	51,612	46,003
Goodwill	2,560	2,560	2,560
Expenditures for segment assets	$ 557	$ 3,553	$ 244

Note 17 - Revenue - Disaggregated Revenue by Revenue Source (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue	$ 6,779,413	$ 4,878,908	$ 4,499,717
Commercial Vehicle [Member]
Revenue	4,351,370	3,039,953	2,863,309
Parts [Member]
Revenue	1,436,981	1,059,382	911,102
Commercial Vehicle Repair Service [Member]
Revenue	935,458	733,981	689,343
Financial Service [Member]
Revenue	16,992	16,385	12,047
Insurance [Member]
Revenue	12,749	11,579	9,902
Product and Service, Other [Member]
Revenue	$ 25,863	$ 17,628	$ 14,014

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Note 18 - Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	11 Months Ended	12 Months Ended
	Dec. 12, 2022	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Balance as of December 31, 2020	$ 1,466,749		$ 1,466,749
Foreign currency translation adjustment	(4,917)			$ (82)	$ 532
Reclassification of currency translation related to equity method of RTC Canada	(601)			0	0
Balance as of December 31, 2021		$ 1,744,491	1,744,491	1,466,749
AOCI Attributable to Parent [Member]
Balance as of December 31, 2020	$ 787		787	869
Foreign currency translation adjustment			(4,316)	(82)
Reclassification of currency translation related to equity method of RTC Canada		(601)
Balance as of December 31, 2021		$ (4,130)	$ (4,130)	$ 787	$ 869

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI https://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details