0001437749-23-004281 | 10-K | XBRL Viewer

Business Description and Accounting Policies [Text Block]

NOTE 1 – NATURE OF OPERATIONS AND BASIS OF PRESENTATION

As used herein, the term “Company”, “we”, “us” or “our” refers to The Shyft Group, Inc. and its subsidiaries unless designated or identified otherwise.

Nature of Operations

We are a niche market leader in specialty vehicle manufacturing and assembly for the commercial vehicle (including last-mile delivery, specialty service and vocation-specific upfit) and recreational vehicle industries. Our products include walk-in vans and truck bodies used in e-commerce/parcel delivery, upfit equipment used in the mobile retail and utility trades, service and vocational truck bodies, luxury Class A diesel motorhome chassis and contract manufacturing and assembly services. We also supply replacement parts and offer repair, maintenance, field service and refurbishment services for the vehicles that we manufacture as well as truck accessories.

Principles of Consolidation

The consolidated financial statements include our accounts and the accounts of our wholly owned subsidiary, The Shyft Group USA, Inc. and its subsidiaries. All inter-company transactions have been eliminated.

Non-Controlling Interest. At December 31, 2022, The Shyft Group USA, Inc. held a 50% share in Spartan-Gimaex, however, due to the management and operational structure of the joint venture, The Shyft Group USA, Inc. was considered to have had the ability to control the operations of Spartan-Gimaex. Accordingly, Spartan-Gimaex is reported as a consolidated subsidiary of The Shyft Group, Inc. The joint venture is not currently active and the liquidation is substantially complete. In December 2021, the Company purchased the remaining 20% ownership interest in Strobes-R-Us (“SRUS”) for $2,162 and, thus, there was no non-controlling interest in SRUS as of December 31, 2021.

Use of Estimates. In the preparation of our financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”), management uses estimates and makes judgments and assumptions that affect asset and liability values and the amounts reported as income and expense during the periods presented. Certain of these estimates, judgments and assumptions, such as the allowance for credit losses, warranty expenses, impairment assessments of tangible and intangible assets, and the provision for income taxes, are particularly sensitive. If actual results are different from estimates used by management, they may have a material impact on the financial statements.

Revenue Recognition. Essentially all of our revenue is generated through contracts with our customers. We may recognize revenue over time or at a point in time when or as obligations under the terms of a contract with our customer are satisfied, depending on the terms and features of the contract and the products supplied. Our contracts generally do not have any significant variable consideration. The collectability of consideration on the contract is reasonably assured before revenue is recognized. On certain vehicles, payment may be received in advance of us satisfying our performance obligations. Such payments are recorded in Deposits from customers on the Consolidated Balance Sheets. The corresponding performance obligations are generally satisfied within one year of the contract inception. In such cases, we have elected to apply the practical expedient to not adjust the promised amount of consideration for the effects of a significant financing component. The financing impact on contracts that contain performance obligations that are not expected to be satisfied within one year are expected to be immaterial to our consolidated financial statements.

We have elected to utilize the practical expedient to recognize the incremental costs of obtaining a contract as an expense when incurred because the amortization period for the prepaid costs that would have otherwise been deferred and amortized is one year or less. We use an observable price to allocate the stand-alone selling price to separate performance obligations within a contract or a cost-plus margin approach when an observable price is not available. The estimated costs to fulfill our base warranties are recognized as expense when the products are sold (see “Note 11 – Commitments and Contingent Liabilities” for further information on warranties). Our contracts with customers do not contain a provision for product returns, except for contracts related to certain parts sales.

Revenue for parts sales for all segments is recognized at the time that control and risk of ownership has passed to the customer, which is generally when the ordered part is shipped to the customer. Historical return rates on parts sales have been immaterial.

For certain of our vehicles and chassis, we sell separately priced service contracts that provide roadside assistance or extend certain warranty coverage beyond our base warranty agreements. These separately priced contracts range from one to six years from the date of the shipment of the related vehicle or chassis. We receive payment with the shipment of the related vehicle or at the inception of the extended service contract, if later, and recognize revenue over the coverage term of the agreement, generally on a straight-line basis, which approximates the pattern of costs expected to be incurred in satisfying the obligations under the contract.

Distinct revenue recognition policies for our segments are as follows:

Fleet Vehicles and Services (“FVS”)

Our walk-in vans and truck bodies are generally built on a chassis that is owned and controlled by the customer. Due to the customer ownership of the chassis, the performance obligation for these walk-in vans and truck bodies is satisfied as the vehicles are built. Accordingly, the revenue and corresponding cost of products sold associated with these contracts are recognized over time based on the inputs completed for a given performance obligation during the reporting period. Certain contracts will specify that a walk-in van or truck body is to be built on a chassis that we purchase and subsequently sell to the customer. The revenue on these contracts is recognized at the time that the performance obligation is satisfied, and control and risk of ownership has passed to the customer, which is generally upon shipment of the vehicle from our manufacturing facility to the customer or receipt of the vehicle by the customer, depending on contract terms. We have elected to treat shipping and handling costs subsequent to transfer of control as fulfillment activities and, accordingly, recognize these costs as the revenue is recognized.

Revenue for upfit and field service contracts is recognized over time, as equipment is installed in the customer’s vehicle or as repairs and enhancements are made to the customer’s vehicles. Revenue and the corresponding cost of products sold is estimated based on the inputs completed for a given performance obligation. Our receivables are generally collected in less than three months, in accordance with our underlying payment terms.

Specialty Vehicles (“SV”)

We recognize revenue and the corresponding cost of products sold on the sale of motorhome chassis when the performance obligation is completed and control and risk of ownership of the chassis has passed to our customer, which is generally upon shipment of the chassis or vehicle to the customer.

Revenue and the corresponding cost of products sold associated with other specialty vehicles is recognized over time based on the inputs completed for a given performance obligation during the reporting period. Other specialty vehicles are generally built on a chassis that is owned and controlled by the customer. Due to the customer ownership of the chassis, the performance obligations for other specialty chassis contracts are satisfied as the products are assembled. Our receivables will generally be collected in less than three months, in accordance with our underlying payment terms.

Some of our service bodies are built on a chassis that is owned and controlled by the customer. Due to the customer ownership of the chassis, the performance obligation for these service bodies is satisfied as the vehicles are built. Accordingly, the revenue and corresponding cost of products sold associated with these contracts are recognized over time based on the inputs completed for a given performance obligation during the reporting period. Certain contracts will specify that a service body is to be built on a chassis that we purchase and subsequently sell to the customer. The revenue on these contracts is recognized at the time that the performance obligation is satisfied, and control and risk of ownership has passed to the customer, which is generally upon shipment of the vehicle from our manufacturing facility to the customer or receipt of the vehicle by the customer, depending on contract terms. We have elected to treat shipping and handling costs subsequent to transfer of control as fulfillment activities and, accordingly, recognize these costs as the revenue is recognized.

Revenue for upfit and field service contracts is recognized over time, as equipment is installed in the customer’s vehicle or as repairs and enhancements are made to the customer’s vehicles. Revenue and the corresponding cost of products sold is estimated based on the inputs completed for a given performance obligation. Our receivables are generally collected in less than three months, in accordance with our underlying payment terms.

Business Combinations. When acquiring other businesses, we recognize identifiable assets acquired and liabilities assumed at their acquisition date estimated fair values, and separately from any goodwill that may be required to be recognized. Goodwill, when recognizable, is measured as the excess amount of any consideration transferred, which is measured at fair value, over the acquisition date fair values of the identifiable assets acquired and liabilities assumed. Amounts recorded in a business combination may change during the measurement period, which is a period not to exceed one year from the date of acquisition, as additional information about conditions existing at the acquisition date becomes available.

Accounting for such acquisitions requires us to make significant assumptions and estimates and are adjusted during the measurement period for a period of up to one year after the acquisition date. Costs incurred to effect an acquisition, such as legal, accounting, valuation or other third-party costs, as well as internal general and administrative costs incurred are charged to expense in the periods incurred.

Shipping and Handling of Products. Costs incurred related to the shipment and handling of products are classified in cost of products sold. Amounts billed to customers for shipping and handling of products are included in sales.

Cash and Cash Equivalents include cash on hand, cash on deposit, treasuries and money market funds. We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Accounts Receivable. Our receivables are subject to credit risk, and we do not typically require collateral on our accounts receivable. We perform periodic credit evaluations of our customers’ financial condition and generally require a security interest in the products sold. Receivables generally are due within 30 to 60 days. We maintain an allowance for customer accounts that reduces receivables to amounts that are expected to be collected. In estimating the allowance for doubtful accounts consistent with it reflecting related lifetime expected credit losses, management considers relevant information about past events, current conditions and reasonable and supportable forecasts that affect the collectability of financial assets.

Inventories are stated at the lower of first-in, first-out cost or net realizable value. Net realizable value is the estimated selling price in the ordinary course of business less cost to sell and considers our current assessment of general market and economic conditions, slow-moving inventory, and future demands.

Contract Assets arise upon the transfer of goods or services to a customer before the customer pays consideration. The Company presents the contract as either a contract asset or as a receivable, depending on the nature of the entity’s right to consideration for its performance. Contract assets are a right to consideration in exchange for goods or services that the Company has transferred to a customer, when the right is conditioned on something other than the passage of time.

Property, Plant and Equipment is stated at cost and the related assets are depreciated over their estimated useful lives on a straight-line basis for financial statement purposes and an accelerated method for income tax purposes. Cost includes an amount of interest associated with significant capital projects. Estimated useful lives range from 20 years for buildings and improvements, three to 15 years for plant machinery and equipment, three to seven years for furniture and fixtures and three to five years for vehicles. Leasehold improvements are depreciated over the shorter of the lease term or the estimated useful life of the asset. Maintenance and repair costs are charged to earnings, while expenditures that increase asset lives are capitalized. We review our property, plant and equipment, along with all other long-lived assets that have finite lives, including finite-lived intangible assets, for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. See “Note 7 – Property, Plant and Equipment” for further information on our property and equipment.

Assets and Liabilities Held for Sale We classify assets and liabilities (disposal groups) to be sold as held for sale in the period in which all of the following criteria are met: management, having the authority to approve the action, commits to a plan to sell the disposal group; the disposal group is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such disposal groups; an active program to locate a buyer and other actions required to complete the plan to sell the disposal group have been initiated; the sale of the disposal group is probable, and transfer of the disposal group is expected to qualify for recognition as a completed sale within one year, except if events or circumstances beyond the Company's control extend the period of time required to sell the disposal group beyond one year; the disposal group is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

We initially measure a disposal group that is classified as held for sale at the lower of its carrying value or fair value less costs to sell. Any loss resulting from this measurement is recognized in the period in which the held for sale criteria are met. Conversely, gains are not recognized on the sale of a disposal group until the date of sale. We assess the fair value of a disposal group each reporting period it remains classified as held for sale and any subsequent changes are reported as an adjustment to the carrying value of the disposal group, as long as the new carrying value does not exceed the carrying value of the disposal group at the time it was initially classified as held for sale.

Upon determining that a disposal group meets the criteria to be classified as held for sale, the Company reports the assets and liabilities of the disposal group, if material, in the line items assets held for sale and liabilities held for sale in the Consolidated Balance Sheets. Depreciation is not recorded during the period in which the long-lived assets, included in the disposal group, are classified as held for sale.

Additionally, we report the reporting results for a disposal group in discontinued operations separately from continuing operations to distinguish the financial impact of disposal transactions from ongoing operations if the disposal represents a strategic shift that has or will have a major effect on our operations and financial results.

Goodwill and Other Intangible Assets. Goodwill represents the excess of the cost of a business combination over the fair value of the net assets acquired. Goodwill and intangible assets deemed to have indefinite lives are not amortized but are subject to impairment tests on an annual basis, or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Goodwill is allocated to the reporting unit from which it was created. A reporting unit is an operating segment or sub-segment to which goodwill is assigned when initially recorded. We review indefinite lived intangible assets annually for impairment by comparing the carrying value of those assets to their fair value.

Other intangible assets with finite lives are amortized over their estimated useful lives and are tested for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable.

We perform our annual goodwill and indefinite lived intangible assets impairment test as of October 1 and monitor for interim triggering events on an ongoing basis. For goodwill we first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Under authoritative guidance, we are not required to calculate the fair value of a reporting unit unless we determine that it is more likely than not that the fair value of the reporting unit is less than its carrying amount. We have the option to bypass the qualitative assessment and proceed to a quantitative impairment test.

If we elect to bypass the qualitative assessment for a reporting unit, or if after completing the assessment we determine that it is more likely than not that the fair value of a reporting unit is less than its carrying value, we perform a quantitative impairment test, whereby we compare the fair value of a reporting unit with its carrying amount, including goodwill. The fair value of the reporting unit is determined by estimating the future cash flows of the reporting unit to which the goodwill relates, and then discounting the future cash flows at a market-participant-derived weighted-average cost of capital (“WACC”). In determining the estimated future cash flows, we consider current and projected future levels of income based on our plans for that business; business trends, prospects and market and economic conditions; and market-participant considerations. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered to not be impaired. If the carrying amount of the reporting unit exceeds its estimated fair value, an impairment loss is recognized in an amount equal to the excess, up to the carrying value of the goodwill.

We evaluate the recoverability of our indefinite lived intangible assets by comparing the estimated fair value of the trade names with their carrying values. We estimate the fair value of our trade names based on estimates of future royalty payments that are avoided through our ownership of the trade name, discounted to their present value. In determining the estimated fair value of the trade names, we consider current and projected future levels of sales based on our plans for those branded products, business trends, prospects and market and economic conditions.

Significant judgments inherent in these assessments and analyses include assumptions about macroeconomic and industry conditions, appropriate sales growth rates, WACC and the amount of expected future net cash flows. The judgments and assumptions used in the estimate of fair value are generally consistent with the projections and assumptions that are used in current operating plans. Such assumptions are subject to change because of changing economic and competitive conditions. The determination of fair value is highly sensitive to differences between estimated and actual cash flows and changes in the related discount rate used to evaluate the fair value of the reporting units and trade names. See “Note 2 – Discontinued Operations” for further details on our goodwill and indefinite-lived intangible assets related to the ERV business. See “Note 6 – Goodwill and Intangible Assets” for further details on our goodwill and other intangible assets.

Warranties. Our policy is to record a provision for the estimated cost of warranty-related claims at the time of the sale, and periodically adjust the warranty liability to reflect actual experience. The amount of warranty liability accrued reflects management’s best estimate of the expected future cost of honoring our obligations under the warranty agreements. Expense related to warranty liabilities accrued for product sales, as well as adjustments to pre-existing warranty liabilities, are reflected within Cost of products sold on our Consolidated Statements of Operations. Our estimates are based on historical experience, the number of units involved, and the extent of features and components included in product models. See “Note 11 – Commitments and Contingent Liabilities” for further information regarding warranties.

Contract Liabilities. We sometimes receive advance payments from customers for product orders and record these amounts as liabilities. We accept such deposits when presented by customers seeking improved pricing in connection with orders that are placed for products to be manufactured and sold at a future date. Sales associated with these deposits are recognized over time based on the inputs completed for a given performance obligation during the reporting period or deferred and recognized upon shipment of the related product to the customer depending on the terms of the contract.

Research and Development. Our research and development costs, which consist of compensation costs, travel and entertainment, administrative expenses and new product development among other items, are expensed as incurred.

Taxes on Income. We recognize deferred income tax assets and liabilities using enacted tax rates for the effect of temporary differences between the book and tax bases of recorded assets and liabilities. Deferred tax liabilities generally represent tax expense recognized for which payment has been deferred, or expenses which have been deducted in our tax returns, but which have not yet been recognized as an expense in our financial statements.

We establish valuation allowances for deferred income tax assets in accordance with GAAP, which provides that such valuation allowances shall be established unless realization of the income tax benefits is more likely than not. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. At each reporting period, we consider the scheduled reversal of deferred tax liabilities, available taxes in carryback periods, tax planning strategies and projected future taxable income in making this assessment.

We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. The determination is based on the technical merits of the position and presumes that each uncertain tax position will be examined by the relevant taxing authority that has full knowledge of all relevant information. Although we believe the estimates are reasonable, no assurance can be given that the final outcome of these matters will not be different than what is reflected in the historical income tax provisions and accruals.

Interest and penalties attributable to income taxes are recorded as a component of income taxes. See “Note 9 – Taxes on Income” for further details on our income taxes.

Earnings Per Share. Basic earnings per share is based on the weighted average number of common shares outstanding during the period. Diluted earnings per share also include the dilutive effect of additional potential common shares issuable from stock-based awards and are determined using the treasury stock method. Basic earnings per share represents net earnings divided by basic weighted average number of common shares outstanding during the period. Diluted earnings per share represents net earnings divided by diluted weighted average number of common shares outstanding, which includes the average dilutive effect of all potentially dilutive securities that are outstanding during the period. Our unvested restricted stock units and performance stock units are included in the number of shares outstanding for diluted earnings per share calculations, unless a net loss is reported, in which situation unvested stock awards are excluded from the number of shares outstanding for diluted earnings per share calculations. See “Note 14 – Stock-Based Compensation” and “Note 16 – Earnings Per Share” for further details.

Stock-Based Compensation. Stock based compensation cost for equity-based awards is measured on the grant date based on the estimated fair value of the award at that date, and is recognized over the requisite service period, net of estimated forfeitures. Fair value of restricted stock awards, restricted stock units and performance stock units subject to a performance condition is based upon the quoted market price of the common stock on the date of grant. Fair value of performance stock units subject to a market condition is calculated using the Monte Carlo simulation model. Our stock-based compensation plans are described in more detail in “Note 14 – Stock Based Compensation”.

Fair Value. We are required to disclose the estimated fair value of our financial instruments. The carrying value at December 31, 2022 and 2021 of cash and cash equivalents, accounts receivable and accounts payable approximate their fair value due to their short-term nature. The carrying value of variable rate debt instruments approximate their fair value based on their relative terms and market rates.

Segment Reporting. We identify our reportable segments based on our management structure and the financial data utilized by the chief operating decision maker to assess segment performance and allocate resources among our operating units. We have two reportable segments: Fleet Vehicles and Services and Specialty Vehicles. More detailed information about our reportable segments can be found in “Note 17 – Business Segments”.

Supplemental Disclosures of Cash Flow Information. Cash paid for interest was $2,176, $592, and $1,757 for 2022, 2021, and 2020. Cash paid for income taxes, net of refunds, was $1,319, $12,199, and $608 for 2022, 2021 and 2020. Non-cash investing in 2022 included $2,489 of capital expenditures, $1,511 in 2021, and $1,496 in 2020. The Company has Chassis Pool Agreements, where it participates in a chassis converter pool that is a non-cash arrangement and is offsetting between current assets and current liabilities on the Company’s Consolidated Balance Sheets. See “Note 13 – Debt” for further information about the Chassis Pool Agreements.

Note 2 - Discontinued Operations

12 Months Ended

Dec. 31, 2022

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

NOTE 2 – DISCONTINUED OPERATIONS

On February 1, 2020, we completed the sale of our Emergency Response Vehicle (“ERV”) business for $55,000 cash subject to certain post-closing adjustments. In September 2020, the Company finalized the post-close net working capital adjustment and subsequently paid $7,500 on October 1, 2020. The results of the ERV business have been reclassified to Income from discontinued operations, net of tax in the Consolidated Statements of Operations for the years ended December 31, 2022, 2021, and 2020.

The Income (loss) from discontinued operations presented in the Consolidated Statement of Operations are summarized below:

	Year Ended December 31,
	2022		2021			2020

Sales	$	-	$	-		$	19,167
Cost of products sold		-		-			18,678
Gross profit		-		-			489
Operating expenses		-		-			4,484
Operating loss		-		-			(3,995	)
Loss on asset impairments		-		-			-
Other income (expense)		-		243			(3,383	)
Income (loss) from discontinued operations before taxes		-		243			(7,378	)
Income tax (expense) benefit		-		(62	)		2,255
Net income (loss) from discontinued operations	$	-	$	181		$	(5,123	)

Total depreciation and amortization and capital expenditures for the discontinued operations for the years ended December 31, 2022, 2021 and 2020:

	Year Ended December 31,
	2022		2021		2020

Depreciation and amortization	$	-	$	-	$	284
Capital expenditures	$	-	$	-	$	84

THE SHYFT GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Dollar amounts in thousands, except per share data)

Note 3 - Acquisition Activities

12 Months Ended

Dec. 31, 2022

Business Combination Disclosure [Text Block]

NOTE 3 – ACQUISITION ACTIVITIES

DuraMag Acquisition

On October 1, 2020, the Company acquired substantially all of the assets and certain liabilities of F3 MFG Inc. through the Company’s subsidiary, The Shyft Group DuraMag LLC (“DuraMag”). The Company paid $17,299 in cash, net of certain adjustments, which was partially financed by borrowing from our existing revolving credit facility, as described in “Note 13–Debt”. The valuation and the estimates and assumptions were finalized during the year ended December 31, 2021, as the measurement period had concluded. The excess of the purchase price over the fair values of the net tangible and intangible assets acquired of $5,401 was recorded as goodwill. Intangible assets totaling $5,590 have been assigned to customer relationships, trade names and trademarks, unpatented technology and non-competition agreements as a result of the acquisition.

Note 4 - Revenue

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Text Block]

NOTE 4 – REVENUE

Contract Assets and Liabilities

The tables below disclose changes in contract assets and liabilities as of the periods indicated.

	December 31, 2022			December 31, 2021
Contract Assets
Contract assets, beginning of year	$	21,483		$	9,414
Reclassification of the beginning contract assets to receivables, as the result of rights to consideration becoming unconditional		(21,483	)		(9,414	)
Contract assets recognized, net of reclassification to receivables		86,993			21,483
Contract assets, end of year	$	86,993		$	21,483

Contract Liabilities
Contract liabilities, beginning of year	$	988		$	756
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied		(988	)		(743	)
Cash received in advance and not recognized as revenue		5,255			975
Contract liabilities, end of year	$	5,255		$	988

The aggregate amount of the transaction price allocated to remaining performance obligations in existing contracts that are yet to be completed in the FVS and SV segments are $736,690 and $96,023, respectively, with substantially all revenue expected to be recognized within one year as of December 31, 2022.

For performance obligations that are satisfied over time, revenue is expected to be recognized evenly over the time period to complete the contract due to the assembly line nature of the business operations. For performance obligations that are satisfied at a point in time, revenue is expected to be recognized when the customer obtains control of the product, which is generally upon shipment from our facility. No amounts have been excluded from the transaction prices above related to the guidance on constraining estimates of variable consideration.

In the following tables, revenue is disaggregated by primary geographical market and timing of revenue recognition for the years ended December 31, 2022, 2021, and 2020. The tables also include a reconciliation of the disaggregated revenue with the reportable segments.

	Year Ended December 31, 2022
	FVS		SV		Total Reportable Segments		Eliminations and Other			Total
Primary geographical markets
United States	$	639,441	$	386,536	$	1,025,977	$	(6,483	)	$	1,019,494
Other		7,562		108		7,670		-			7,670
Total sales	$	647,003	$	386,644	$	1,033,647	$	(6,483	)	$	1,027,164

Timing of revenue recognition
Products transferred at a point in time	$	41,750	$	208,645	$	250,395	$	-		$	250,395
Products and services transferred over time		605,253		177,999		783,252		(6,483	)		776,769
Total sales	$	647,003	$	386,644	$	1,033,647	$	(6,483	)	$	1,027,164

	Year Ended December 31, 2021
	FVS		SV		Total Reportable Segments		Eliminations and Other		Total
Primary geographical markets
United States	$	647,842	$	332,293	$	980,135	$	-	$	980,135
Other		11,590		67		11,657		-		11,657
Total sales	$	659,432	$	332,360	$	991,792	$	-	$	991,792

Timing of revenue recognition
Products transferred at a point in time	$	34,558	$	198,852	$	233,410	$	-	$	233,410
Products and services transferred over time		624,874		133,508		758,382		-		758,382
Total sales	$	659,432	$	332,360	$	991,792	$	-	$	991,792

Year Ended December 31, 2020

FVS

SV

Total

Reportable

Segments

Eliminations and Other

Total

Primary geographical markets

United States
$ 454,403 $ 212,109 $ 666,512 $ - $ 666,512

Other
9,055 406 9,461 - 9,461

Total sales
$ 463,458 $ 212,515 $ 675,973 $ - $ 675,973

Timing of revenue recognition

Products transferred at a point in time
$ 44,418 $ 127,801 $ 172,219 $ - $ 172,219

Products and services transferred over time
419,040 84,714 503,754 - 503,754

Total sales
$ 463,458 $ 212,515 $ 675,973 $ - $ 675,973

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

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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Note 5 - Inventories

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Text Block]

NOTE 5 – INVENTORIES

Inventories are summarized as follows:

	December 31,
	2022		2021
Finished goods	$	13,361	$	2,990
Work in process		5,200		2,471
Raw materials and purchased components		81,600		61,723
Total Inventories	$	100,161	$	67,184

Note 6 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 6 – GOODWILL AND INTANGIBLE ASSETS

Goodwill

We test goodwill for impairment at the reporting unit level on an annual basis as of October 1, or whenever an event or change in circumstances occurs that would more likely than not reduce the fair value of a reporting unit below its carrying amount. See “Goodwill and Other Intangible Assets” within “Note 1 – Nature of Operations and Basis of Presentation” for a description of our accounting policies regarding goodwill and other intangible assets.

As of October 1, 2022, the most recent annual goodwill impairment assessment date, two reporting units were determined for goodwill impairment testing: Fleet Vehicles and Services and Specialty Vehicles. We qualitatively assessed goodwill assigned to the Fleet Vehicles and Services and Specialty Vehicles reporting units and found no indicators of impairment.

As discussed in “Note 1 – Nature of Operations and Basis of Presentation” there are significant judgments inherent in our impairment assessments and discounted cash flow analyses. These discounted cash flow analyses are most sensitive to the weighted-average cost of capital (“WACC”) assumption.

The change in the carrying amount of goodwill for the year ended December 31, 2022 and 2021 were as follows (in thousands):

	FVS				SV					Total
	December 31,				December 31,					December 31,
	2022		2021		2022		2021			2022		2021
Goodwill, beginning of year	$	15,323	$	15,323	$	33,557	$	34,158		$	48,880	$	49,481
Acquisition and measurement period adjustments		-		-		-		(601	)		-		(601	)
Goodwill, end of year	$	15,323	$	15,323	$	33,557	$	33,557		$	48,880	$	48,880

OtherIntangible Assets

At December 31, 2022, we had other intangible assets, including customer and dealer relationships, non-compete agreements, trade names, trademarks, unpatented technology, patented technology. Certain non-compete agreements and certain other intangible assets are being amortized over their expected remaining useful lives based on the pattern of estimated after-tax operating income generated, or on a straight-line basis. Unpatented technology, patented technology and certain non-compete agreements are amortized utilizing a straight-line approach over the estimated useful lives. We amortize the customer relationships utilizing an accelerated approach over the estimated remaining life. The Royal, DuraMag, Magnum, Utilimaster, and Strobes-R-Us trade names and trademarks are considered to have indefinite lives and are not amortized.

We evaluate the recoverability of our indefinite lived intangible assets, which, as of October 1, 2022, consisted of our Royal, DuraMag, and Magnum trade names, by comparing the estimated fair value of the trade names with their carrying values. We estimate the fair value of our trade names based on estimates of future royalty payments that are avoided through our ownership of the trade name, discounted to their present value. In determining the estimated fair value of the trade names, we consider current and projected future levels of sales based on our plans for these trade name branded products, business trends, prospects and market and economic conditions. The fair value of our Royal, DuraMag, and Magnum trade names exceeded their carrying values, and therefore do not result in an impairment. We qualitatively assessed Utilimaster and Strobes-R-Us trade names and trademarks and found no indicators of impairment.

The following table provides information regarding our other intangible assets:

	As of December 31, 2022						As of December 31, 2021
	Gross carrying amount		Accumulated amortization		Net		Gross carrying amount		Accumulated amortization		Net
Customer relationships	$	39,080	$	12,174	$	26,906	$	39,080	$	9,188	$	29,892
Unpatented technology		540		135		405		540		75		465
Patented technology		2,200		894		1,306		2,200		619		1,581
Non-compete agreements		2,980		1,909		1,071		2,980		1,327		1,653
Trade Names		19,390		-		19,390		19,390		-		19,390
	$	64,190	$	15,112	$	49,078	$	64,190	$	11,209	$	52,981

We recorded $3,903, $3,405, and $3,265 of intangible asset amortization expense during 2022, 2021 and 2020.

THE SHYFT GROUP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Dollar amounts in thousands, except per share data)

The estimated remaining amortization associated with finite-lived intangible assets is expected to be expensed as follows:

	Amount
2023		3,810
2024		3,477
2025		3,070
2026		2,944
2027		2,706
Thereafter		13,681
Total	$	29,688

Note 7 - Property, Plant and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment Disclosure [Text Block]

NOTE 7 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment are summarized by major classifications as follows:

	December 31,
	2022			2021
Land and improvements	$	12,314		$	9,810
Buildings and improvements		42,827			45,724
Plant machinery and equipment		55,969			49,305
Furniture and fixtures		18,334			20,421
Vehicles		2,083			2,607
Construction in process		9,946			12,700
Subtotal		141,473			140,567
Less accumulated depreciation		(70,720	)		(79,510	)
Total property, plant and equipment, net	$	70,753		$	61,057

We recorded depreciation expense of $10,871, $7,977, and $10,638 during 2022, 2021, and 2020, respectively. There were no capitalized interest costs in 2022, 2021, or 2020. In the second quarter of 2020, we committed to a plan to phase out the use of an ERP system at certain locations and determined that the estimated useful lives for the related assets had shortened. As a result, in 2020, we recorded depreciation expense of $3,060 attributable to accelerated depreciation and a loss of $2,430 from the write-off of related construction in process. The total after-tax impact on Income from continuing operations was an expense of $4,365 for 2020.

Note 8 - Leases

12 Months Ended

Dec. 31, 2022

Lessee, Operating Leases and Finance Leases [Text Block]

NOTE 8 – LEASES

We have operating and finance leases for land, buildings and certain equipment. Our leases have remaining lease terms of one year to 17 years, some of which include options to extend the leases for up to 15 years. Our leases do not contain residual value guarantees. As of December 31, 2022 and 2021, assets recorded under finance leases were immaterial (See “Note 13 – Debt”). Lease expense totaled $10,603, $8,679, and $6,913 for the years ended December 31, 2022, 2021 and 2020, respectively.

Operating lease expenses are classified as cost of products sold and operating expenses on the Consolidated Statements of Operations. The components of lease expense were as follows:

	Year ended December 31, 2022		Year ended December 31, 2021		Year ended December 31, 2020
Operating leases	$	10,302	$	8,233	$	6,699
Short-term leases (1)		301		446		214
Total lease expense	$	10,603	$	8,679	$	6,913

(1) Includes expenses for month-to-month equipment leases, which are classified as short-term as the Company is not reasonably certain to renew the lease term beyond one month.

The weighted average remaining lease term and weighted average discount rate were as follows:

Year ended

December 31,

2022

Year ended

December 31,

2021

Weighted average remaining lease term of operating leases (in years)

8.0

8.9

Weighted average discount rate of operating leases

2.7

3.0

Supplemental cash flow information related to leases was as follows:

	Year ended December 31, 2022		Year ended December 31, 2021		Year ended December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow for operating leases	$	9,500	$	7,958	$	6,338

Right of use assets obtained in exchange for lease obligations:
Operating leases	$	19,159	$	7,137	$	16,829
Finance leases	$	304	$	271	$	141

Maturities of operating lease liabilities as of December 31, 2022 are as follows:

Years ending December 31:
2023		10,952
2024		10,047
2025		8,902
2026		6,873
2027		4,610
Thereafter		20,127
Total lease payments		61,511
Less: imputed interest		(6,367	)
Total lease liabilities	$	55,144

Note 9 - Taxes on Income

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Text Block]

NOTE 9 – TAXES ON INCOME

Income taxes consist of the following:

	Year Ended December 31,
	2022		2021		2020
Taxes on income from continuing operations	$	7,368	$	14,506	$	9,867
Income tax expense (benefit) from discontinued operations		-		62		(2,255	)
Total taxes on income	$	7,368	$	14,568	$	7,612

Income taxes from continuing operations consist of the following:

	Year Ended December 31,
	2022			2021		2020
Current (benefit):
Federal	$	10,672		$	10,891	$	8,191
State		1,960			2,745		2,474
Foreign		175			286		156
Total current		12,807			13,922		10,821
Deferred (benefit):
Federal		(4,976	)		554		(975	)
State		(463	)		30		21
Total deferred		(5,439	)		584		(954	)
Total taxes on income	$	7,368		$	14,506	$	9,867

Differences between the expected income tax expense derived from applying the federal statutory income tax rate to earnings from continuing operations before taxes on income and the actual tax expense are as follows:

	Year Ended December 31,
	2022			2021			2020
Federal income taxes at the statutory rate	$	9,224		$	17,741		$	10,113
State tax expense, net of federal income tax benefit		1,132			2,481			1,895
Increase (decrease) in income taxes resulting from:
Tax rate benefit from NOL carryback due to CARES Act		-			-			(2,610	)
Other deferred income tax adjustment		-			-			174
Non-deductible compensation		851			958			1,162
Other non-deductible expenses		-			-			94
Stock based compensation		(819	)		(1,504	)		(666	)
Foreign tax expense		-			-			156
Valuation allowance adjustment		-			(82	)		(254	)
Unrecognized tax benefit adjustment		-			-			(14	)
Federal research and development tax credit		(2,681	)		(4,413	)		(329	)
Foreign tax credit		-			-			(32	)
Other		(339	)		(675	)		178
Total	$	7,368		$	14,506		$	9,867

Temporary differences which give rise to deferred income tax assets (liabilities) are as follows:

	December 31,
	2022			2021
Deferred income tax assets:
Operating lease liability	$	13,664		$	10,917
Research and development costs		12,066			-
Warranty reserve		1,592			1,330
Inventory costs and reserves		5,926			1,862
Deferment of employer's portion Social Security tax payment		-			526
Contract assets		10,030			2,518
Stock-based compensation		1,261			1,361
Net operating loss carry-forwards, net of federal income tax benefit		556			880
Compensation related accruals		621			609
Credit carry-forwards net of federal income tax benefit		1,454			1,332
Other		879			837
Total deferred income tax assets	$	48,049		$	22,172

Deferred income tax liabilities:
Cost offset method	$	(14,371	)	$	-
Right of use assets		(13,121	)		(10,682	)
Depreciation		(7,901	)		(4,846	)
Intangible assets		(2,010	)		(1,693	)
Prepaid expenses		(256	)		(71	)
Total deferred income tax liabilities	$	(37,659	)	$	(17,292	)

Net deferred tax asset	$	10,390		$	4,880

Based upon an assessment of the available positive and negative evidence at December 31, 2022 and 2021, the total deferred income tax assets are more likely than not to be realized based on the consideration of deferred tax liability reversals and projected future taxable income. Therefore, no valuation allowance was recorded at December 31, 2022 and 2021.

As required by the 2017 Tax Cuts and Jobs Act, effective January 1, 2022 our research and development costs were capitalized and amortized for income tax purposes and resulted in an equal amount of deferred tax benefit as of December 31, 2022.

At December 31, 2022 and 2021, we had state tax NOL carry-forwards of $704, which expire between years 2029-2042, and $1,114, which expire between years 2027-2042, respectively. At December 31, 2022 and 2021, we had state tax credit carry-forwards of $2,353 which expire between years 2028-2033, and $2,289 which expire between years 2022-2031, respectively.

A reconciliation of the change in the unrecognized tax benefits (“UTB”) for the three years ended December 31, 2022, 2021 and 2020 is as follows:

	2022			2021			2020
Balance at January 1,		5,247		$	1,234		$	1,270
Increase (decrease) related to prior year tax positions		(139	)		2,935			(109	)
Increase related to current year tax positions		775			1,161			101
Settlement		(97	)		-			-
Expiration of statute		(38	)		(83	)		(28	)
Balance at December 31,	$	5,748		$	5,247		$	1,234

As of December 31, 2022, we had an ending UTB balance of $5,748 along with $690 of interest and penalties, for a total liability of $6,438, of which $6,033 is recorded as a non-current liability and $405 as a credit offsetting deferred tax assets. The change in interest and penalties amounted to an increase of $160 in 2022, $199 in 2021, and $92 in 2020, which were reflected in Income tax expense within our Consolidated Statement of Operations. The total amount of UTB that, if recognized, would impact our effective tax rate is $5,463 in 2022, $4,989 in 2021, and $1,234 in 2020.

As of December 31, 2022, we are no longer subject to examination by federal taxing authorities for 2018 and earlier years, however federal carryforwards from 2018 and earlier are open to adjustment. We also file tax returns in several states and those jurisdictions remain subject to audit in accordance with relevant state statutes. These audits can involve complex issues that may require an extended period of time to resolve and may cover multiple years.

We do not expect the total amount of UTB to significantly increase or decrease over the next twelve months.

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.

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Note 10 - Transactions with Major Customers

12 Months Ended

Dec. 31, 2022

Concentration Risk Disclosure [Text Block]

NOTE 10 – TRANSACTIONS WITH MAJOR CUSTOMERS

Major customers are defined as those with sales greater than 10 percent of consolidated sales in a given year. We had certain customers whose sales individually represented 10 percent or more of the Company's total sales as follows:

Year	Number of major customers		Combined percentage of consolidated sales			Segment
2022		2		25.4	%	FVS and SV
2021		1		25.1	%	FVS
2020		1		29.3	%	FVS

Note 11 - Commitments and Contingent Liabilities

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Text Block]

NOTE 11 – COMMITMENTS AND CONTINGENT LIABILITIES

At December 31, 2022, we and our subsidiaries were parties, both as plaintiff and defendant, to a number of lawsuits and claims arising out of the normal course of our businesses. In the opinion of management, our financial position, future operating results or cash flows will not be materially affected by the final outcome of these legal proceedings.

Warranty Related

We provide limited warranties against assembly/construction defects. These warranties generally provide for the replacement or repair of defective parts or workmanship for a specified period following the date of sale. The end users also may receive limited warranties from suppliers of components that are incorporated into our chassis and vehicles.

Certain warranty and other related claims involve matters of dispute that ultimately are resolved by negotiation, arbitration or litigation. Infrequently, a material warranty issue can arise which is beyond the scope of our historical experience. We provide for any such warranty issues as they become known and are estimable. It is reasonably possible that additional warranty and other related claims could arise from disputes or other matters beyond the scope of our historical experience. An estimate of possible penalty or loss, if any, cannot be made at this time.

Changes in our warranty liability during the years ended December 31, 2022 and 2021 were as follows:

	2022			2021
Balance of accrued warranty at January 1	$	5,975		$	5,633
Provisions for current period sales		4,904			2,211
Cash settlements		(4,681	)		(4,234	)
Changes in liability for pre-existing warranties		963			2,076
Acquisitions		-			289
Balance of accrued warranty at December 31	$	7,161		$	5,975

EPA Matter

As previously disclosed, in May 2020, the Company received an information request from the United States Environmental Protection Agency (“EPA”) requesting certain information regarding emissions labels on chassis, vocational vehicles, and vehicles that the Company manufactured or imported into the U.S. between January 1, 2017 to the date the Company received the request in May 2020. The Company responded to the EPA’s request and furnished the requested materials in the third quarter of 2020.

On April 6, 2022, the Company received a Notice of Violation from the EPA alleging a failure to secure certain certifications on manufactured chassis and a failure to comply with recordkeeping and reporting requirements related to supplier-provided chassis. The Company continues to investigate this matter, including potential defenses, and will continue discussions with the EPA regarding the allegations. At this time, it is not possible to estimate the potential fines or penalties that the Company may incur (if any) for this matter.

Note 12 - Defined Contribution Plans

12 Months Ended

Dec. 31, 2022

Compensation and Employee Benefit Plans [Text Block]

NOTE 12 – DEFINED CONTRIBUTION PLANS

We sponsor defined contribution retirement plans which cover all employees who meet length of service and minimum age requirements. Our matching contributions vest over five years and were $3,291, $2,572, and $1,762 in 2022, 2021, and 2020. These amounts are expensed as incurred.

Note 13 - Debt

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Text Block]

NOTE 13 – DEBT

Short-term debt consists of the following:

	December 31, 2022		December 31, 2021
Chassis pool agreements	$	19,544	$	9,926
Total short-term debt	$	19,544	$	9,926

Chassis Pool Agreements

The Company obtains certain vehicle chassis for its walk-in vans, service bodies and specialty vehicles directly from the chassis manufacturers under converter pool agreements. Chassis are obtained from the manufacturers based on orders from customers, and in some cases, for unallocated orders. The agreements generally state that the manufacturer will provide a supply of chassis to be maintained at the Company’s facilities with the condition that we will store such chassis and will not move, sell, or otherwise dispose of such chassis except under the terms of the agreement. In addition, the manufacturer typically retains the sole authority to authorize commencement of work on the chassis and to make certain other decisions with respect to the chassis including the terms and pricing of sales of the chassis to the manufacturer’s dealers. The manufacturer also does not transfer the certificate of origin to the Company nor permit the Company to sell or transfer the chassis to anyone other than the manufacturer (for ultimate resale to a dealer).

Although the Company is party to related finance agreements with manufacturers, the Company has not historically settled, nor expects to in the future settle, any related obligations in cash. Instead, the obligation is settled by the manufacturer upon reassignment of the chassis to an accepted dealer, and the dealer is invoiced for the chassis by the manufacturer. Accordingly, as of December 31, 2022 and December 31, 2021, the Company’s outstanding chassis converter pool with manufacturers totaled $19,544 and $9,926, respectively, and the Company has included this financing agreement on the Company’s Consolidated Balance Sheets within Other receivables – chassis pool agreements and Short-term debt – chassis pool agreements. Typically, chassis are converted and delivered to customers within 90 days of the receipt of the chassis by the Company. The chassis converter pool is a non-cash arrangement and is offsetting between current assets and current liabilities on the Company’s Consolidated Balance Sheets.

Long-term debt consists of the following:

	December 31, 2022			December 31, 2021
Revolving credit facility	$	56,000		$	-
Finance lease obligations		455			450
Other		-			540
Total debt		56,455			990
Less current portion of long-term debt		(189	)		(252	)
Total long-term debt	$	56,266		$	738

Revolving Credit Facility

On November 30, 2021, we entered into an Amended and Restated Credit Agreement (the “Credit Agreement”) by and among us and certain of our subsidiaries as borrowers, Wells Fargo Bank, N.A. (“Wells Fargo”), as administrative agent, and the lenders party thereto consisting of Wells Fargo, JPMorgan Chase Bank, N.A., PNC Bank, National Association and Bank of America, N.A. (the “Lenders”). Certain of our other subsidiaries have executed guaranties guarantying the borrowers' obligations under the Credit Agreement.

Under the Credit Agreement, we may borrow up to $400,000 from the Lenders under a secured revolving credit facility which matures November 30, 2026. We may also request an increase in the facility of up to $200,000 in the aggregate, subject to customary conditions. The revolving credit facility is also available for the issuance of letters of credit of up to $20,000 and swing line loans of up to $10,000, subject to certain limitations and restrictions. The revolving credit facility carries an interest rate of either (i) the highest of prime rate, the federal funds effective rate from time to time plus 0.5%, or the one month adjusted LIBOR plus 1.0%; or (ii) adjusted LIBOR, in each case plus a margin based upon our ratio of debt to earnings from time to time. The applicable borrowing rate including the margin was 5.12% (or one-month LIBOR plus 1.00%) at December 31, 2022. The revolving credit facility is secured by security interests in, and liens on, all assets of the borrowers and guarantors, other than real property and certain other excluded assets. At December 31, 2022 and December 31, 2021, we had outstanding letters of credit totaling $1,200 and $760, respectively, related to our workers’ compensation insurance.

Under the terms of our Credit Agreement, available borrowings (exclusive of outstanding borrowings) totaled $187,162 and $376,776 at December 31, 2022 and December 31, 2021, respectively. The Credit Agreement requires us to maintain certain financial ratios and other financial covenants; prohibits us from incurring additional indebtedness; limits certain acquisitions, investments, advances or loans; limits our ability to pay dividends in certain circumstances; and restricts substantial asset sales, all subject to certain exceptions and baskets. At December 31, 2022 and December 31, 2021, we were in compliance with all covenants in our Credit Agreement.

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.

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Note 14 - Stock Based Compensation

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Text Block]

NOTE 14 – STOCK BASED COMPENSATION

We have stock incentive plans covering certain employees and non-employee directors. Shares reserved for stock awards under these plans total 4,056,250. Total shares remaining available for stock incentive grants under these plans totaled 1,204,205 at December 31, 2022. We are currently authorized to grant new stock options, restricted stock, restricted stock units, stock appreciation rights and performance stock units under our Stock Incentive Plan of 2016.

Restricted Stock

We issue restricted stock, at no cash cost, to our key employees. Shares awarded entitle the shareholder to all rights of common stock ownership except that the shares are subject to the risk of forfeiture and may not be sold, transferred, pledged, exchanged or otherwise disposed of during the vesting period, which is three years. The unearned stock-based compensation related to restricted stock awards, using the market price on the date of grant, is being amortized to compensation expense over the applicable vesting periods.

We receive an excess tax benefit or liability during the period the restricted shares vest. The excess tax benefit (liability) is determined by the excess (shortfall) of the market price of the stock on date of vesting over (under) the grant date market price used to amortize the awards to compensation expense. As required, any excess tax benefits or liabilities are reported in the Consolidated Statements of Cash Flows as operating cash flows.

Restricted stock activity for the years ended December 31, 2022, 2021, and 2020, is as follows:

	Total Number of Non-vested Shares (000)			Weighted Average Grant Date Fair Value		Weighted Average Remaining Vesting Life (Years)
Non-vested shares outstanding at January 1, 2020		711		$	8.58		0.9
Granted		172			13.07
Vested		(460	)		8.42
Forfeited		(53	)		11.85
Non-vested shares outstanding at December 31, 2020		370			10.02		1.0
Granted		85			36.76
Vested		(230	)		11.26
Forfeited		(35	)		20.45
Non-vested shares outstanding at December 31, 2021		190			21.81		1.0
Vested		(91	)		17.62
Forfeited		(28	)		21.98
Non-vested shares outstanding at December 31, 2022		71		$	27.14		0.6

The weighted-average grant date fair value of non-vested shares granted was none, $36.76, and $13.07 for the years ended December 31, 2022, 2021 and 2020. During 2022, 2021 and 2020, we recorded compensation expense, net of cancellations, of $1,189, $2,542, and $2,637, related to restricted stock awards and direct stock grants. The total income tax benefit related to restricted stock awards was $275, $595, and $453 for 2022, 2021 and 2020. For the years ended December 31, 2022, 2021, and 2020, restricted shares vested with a fair market value of $1,591, $1,929, and $3,876. As of December 31, 2022, we had unearned stock-based compensation of $1,095 associated with these restricted stock grants, which will be recognized over a weighted average of 1.0 years.

Performance Stock Units

During the year ended December 31, 2022, 2021, and 2020, we granted 124,427, 84,740, and 214,299 performance stock units (“PSUs”), respectively, to certain employees, which are earned over a three-year service period.

After completion of the performance period, the number of PSUs earned will be issued as shares of common stock. The aggregate number of shares of common stock that ultimately may be issued under PSUs where the performance period has not been completed can range from 0% to 200% of the target amount. The awards will generally be forfeited if a participant leaves the Company for reasons other than retirement, disability or death.

A dividend equivalent is calculated based on the actual number of units earned at the end of the performance period equal to the dividends that would have been payable on the earned units had they been held during the entire performance period as common stock. At the end of the performance period, the dividend equivalents are paid in the form of cash at the discretion of the Human Resources and Compensation Committee.

49,769, 30,770 and 74,319 of the PSUs granted in 2022, 2021, and 2020, respectively, are earned based on our three-year cumulative GAAP net income, subject to such adjustments as approved by the Company’s Human Resources and Compensation Committee in its sole discretion (“Net Income PSUs”), which is a performance condition. None, 7,814, and 28,505 of the PSUs granted in 2022, 2021, and 2020, respectively, were based on certain performance criteria, subject to such adjustments as approved by the Company’s Human Resources and Compensation Committee in its sole discretion (“Exceptional Performance PSUs”), which is a performance condition. The number of shares that may be earned under the Net Income PSUs and Exceptional Performance PSUs can range from 0% to 200% of the target amount. The Net Income PSUs and Exceptional Performance PSUs are expensed and recorded in Common stock on the Consolidated Balance Sheets over the performance period based on the probability that the performance conditions will be met. The expense recorded will be adjusted as the estimate of the total number of Net Income PSUs and Exceptional Performance PSUs that will ultimately be earned changes. The grant date fair value per unit is equal to the closing price of the Company’s stock on the date of grant.

74,658, 46,156, and 111,475 of the PSUs granted in 2022, 2021, and 2020, respectively, are earned based on achievement of certain total shareholder return results relative to a comparison group of companies (“TSR PSUs”), which is a market condition. The number of shares that may be earned under the TSR PSUs can range from 0% to 200% of the target amount. The TSR PSUs are expensed and recorded in Common stock on the Consolidated Balance Sheets over the performance period.

The fair value of the TSR PSUs granted was calculated using the Monte Carlo simulation model which resulted in the grant date fair value for these TSR PSUs of $43.41, $57.11 and $18.08 per unit in 2022, 2021, and 2020, respectively.

The Monte Carlo simulation was computed using the following assumptions:

	Granted in 2022			Granted in 2021			Granted in 2020
Three-year risk-free interest rate ⁽¹⁾		2.41	%		0.29	%		0.27	%
Expected term (in years)		2.7			2.8			2.7
Estimated volatility ⁽²⁾		55.6	%		61.9	%		58.2	%

⁽¹⁾	Based on the U.S. government bond benchmark on the grant date.

⁽²⁾	Represents the historical price volatility of the Company’s common stock for the three-year period preceding the grant date.

The total PSU expense and associated tax benefit for all outstanding awards for the year ended December 31, 2022 was $3,176 and $197, respectively, for the year ended December 31, 2021was $3,663 and $310, respectively, and for the year ended December 31, 2020 was $2,809 and $369, respectively.

The PSU activity for the years ended December 31, 2022, 2021, and 2020, is as follows:

	Total Number of Non-vested Shares (000)			Weighted- Average Grant Date Fair Value per Unit
Non-vested as of January 1, 2020		218		$	11.82
Granted		214			15.28
		(22	)		11.82
Non-vested as of December 31, 2020		410			13.63
Granted		85			48.08
Forfeited		(12	)		26.94
Non-vested as of December 31, 2021		483			19.33
Granted		124			40.49
Forfeited		(38	)		28.27
Vested		(194	)		11.82
Non-vested as of December 31, 2022		375		$	29.31

As of December 31, 2022 there was $4,523 of remaining unrecognized compensation cost related to non-vested PSUs, which is expected to be recognized over a remaining weighted-average period of 1.7 years.

Restricted Stock Units

During the year ended December 31, 2022, 2021, and 2020, we awarded 241,217 and 110,599, and 194,445 restricted stock units (“RSUs”), respectively, to certain employees and Board members. These RSUs generally vest ratably over three years after the date of grant for employees and vest one year after date of grant for Board members, at which time the units will be issued as unrestricted shares of common stock. RSUs are expensed and recorded in Common stock on the Consolidated Balance Sheets over the requisite service period based on the value of the underlying shares on the date of grant. Upon vesting, the dividend equivalents are paid in the form of cash at the discretion of the Human Resources and Compensation Committee.

The RSU expense and associated tax benefit for all outstanding awards for the year ended December 31, 2022 was $3,253 and $668, respectively, awards for the year ended December 31, 2021 was $2,540 and $499, respectively and, for the year ended December 31, 2020 was $1,752 and $362, respectively.

The RSU activity for the years ended December 31, 2022, 2021, and 2020, is as follows:

	Total Number of Non-vested Shares (000)			Weighted- Average Grant Date Fair Value per Unit
Non-vested as of January 1, 2020		182		$	8.98
Granted		194			13.45
Forfeited		(6	)		16.17
Vested		(158	)		9.56
Non-vested as of December 31, 2020		212			12.43
Granted		111			36.76
Forfeited		(3	)		37.09
Vested		(119	)		14.08
Non-vested as of December 31, 2021		201			24.51
Granted		241			29.58
Forfeited		(30	)		32.96
Vested		(105	)		22.15
Non-vested as of December 31, 2022		307		$	28.38

As of December 31, 2022 there was $6,026 of remaining unrecognized compensation cost related to non-vested RSUs, which is expected to be recognized over a weighted-average period of 1.6 years.

Employee Stock Purchase Plan

We instituted an employee stock purchase plan (“ESPP”) beginning on October 1, 2011 whereby essentially all employees who meet certain service requirements can purchase our common stock on quarterly offering dates at 90% of the fair market value of the shares on the purchase date. A maximum of 750,000 shares are authorized for purchase. During the years ended December 31, 2022, 2021, and 2020, we received proceeds of $434, $389, and $198 for the purchase of approximately 20,000, 11,000, and 12,000 shares under the ESPP.

Note 15 - Shareholders Equity

12 Months Ended

Dec. 31, 2022

Stockholders' Equity Note Disclosure [Text Block]

NOTE 15 – SHAREHOLDERS EQUITY

On February 22, 2022, we announced that our Board of Directors had authorized the repurchase of up to $250.0 million of our common stock. The repurchase authorization does not have an expiration date.

The following table represents our purchases of our common stock during the year ended December 31, 2022 under the share repurchase program.

Year Ended

December 31,

purchased

(000)

Purchase

value

Approximate Dollar Value of Shares That
May Yet be Purchased Under Announced Plans or Programs

2022

607

26,789

242,102

During the year ended December 31, 2021, 100,000 shares were purchased under a prior authorization approved in 2016 for $3,348. As of December 31, 2021, 408,994 shares remained allowable to be purchased under the 2016 authorization.

In January 2022, we repurchased the remaining 408,994 shares available under the prior authorization for $18,884. On February 3, 2022, our Board of Directors authorized an increase in the Company’s quarterly dividend from $0.025 to $0.05 per share payable on or before March 17, 2022, to shareholders of record at the close of business on February 17, 2022.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Note 16 - Earnings Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Text Block]

NOTE 16 – EARNINGS PER SHARE

The table below reconciles basic weighted average common shares outstanding to diluted weighted average shares outstanding for 2022, 2021, and 2020 (in thousands). Basic earnings per share is based on the weighted average number of common shares outstanding during the period. Diluted earnings per share also include the dilutive effect of additional potential common shares issuable from stock-based awards and are determined using the treasury stock method. Basic earnings per share represents net earnings divided by basic weighted average number of common shares outstanding during the period. Diluted earnings per share represents net earnings divided by diluted weighted average number of common shares outstanding, which includes the average dilutive effect of all potentially dilutive securities that are outstanding during the period. Our unvested restricted stock units and performance stock units are included in the number of shares outstanding for diluted earnings per share calculations, unless a net loss is reported, in which situation unvested stock awards are excluded from the number of shares outstanding for diluted earnings per share calculations.

	Year Ended December 31,
	2022		2021		2020
Basic weighted average common shares outstanding		35,073		35,333		35,479
Plus dilutive effect of Restricted Stock Units and Performance Stock Units		421		764		560
Diluted weighted average common shares outstanding		35,494		36,097		36,039

Note 17 - Business Segments

12 Months Ended

Dec. 31, 2022

Segment Reporting Disclosure [Text Block]

NOTE 17 – BUSINESS SEGMENTS

We identify our reportable segments based on our management structure and the financial data utilized by our chief operating decision maker to assess segment performance and allocate resources among our operating units. We have two reportable segments: Fleet Vehicles and Services and Specialty Vehicles.

We evaluate the performance of our reportable segments based on Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), which is defined as income from continuing operations before interest, income taxes, depreciation and amortization, as adjusted to eliminate the impact of restructuring charges, acquisition related expenses and adjustments, non-cash stock-based compensation expenses, and other gains and losses not reflective of our ongoing operations.

Our FVS segment consists of our operations at our Bristol, Indiana; Landisville, Pennsylvania; North Charleston, South Carolina; Charlotte, Michigan locations along with our operations at our upfit centers in Kansas City, Missouri; North Charleston, South Carolina; and Saltillo, Mexico. The segment focuses on designing and manufacturing walk-in vans for parcel delivery, mobile retail, and trades and construction industries, the production of commercial truck bodies, and the distribution of related aftermarket parts and accessories.

Our SV segment consists of our Charlotte, Michigan operations that engineer and manufacture motorhome chassis, other specialty chassis and distribute related aftermarket parts and assemblies. Our service bodies operations include locations in Charlotte, Michigan; Carson, McClellan Park, and Montebello, California; Mesa, Arizona; Dallas and Weatherford, Texas; and Waterville, Maine. We also provide vocation-specific equipment upfit services, which are marketed and sold under the Strobes-R-Us brand, through our manufacturing operations in Pompano and West Palm Beach, Florida.

The accounting policies of the segments are the same as those described, or referred to, in “Note 1 – Nature of Operations and Basis of Presentation”. Assets and related depreciation expense in the column labeled “Eliminations and Other” pertain to capital assets maintained at the corporate level. Eliminations for inter-segment sales are shown in the column labeled “Eliminations and other”. Segment loss from operations in the “Eliminations and other” column contains corporate related expenses not allocable to the operating segments. Interest expense and Taxes on income are not included in the information utilized by the chief operating decision makers to assess segment performance and allocate resources, and accordingly, are excluded from the segment results presented below.

Sales to customers outside the United States were $7,670, $11,657, and $9,461 for the years ended December 31, 2022, 2021, and 2020, or 0.7%, 1.2%, and 1.4%, respectively, of sales for those years. Substantially all of our long-lived assets are located in the United States.

Sales and other financial information by business segment are as follows:

Year Ended December 31, 2022

	Segment
	FVS		SV		Eliminations and Other			Consolidated
Fleet vehicles sales	$	605,253	$	-	$	-		$	605,253
Motorhome chassis sales		-		175,030		-			175,030
Other specialty vehicles sales		-		191,882		(6,483	)		185,399
Aftermarket parts and accessories sales		41,750		19,732		-			61,482
Total sales	$	647,003	$	386,644	$	(6,483	)	$	1,027,164

Depreciation and amortization expense	$	4,555	$	7,011	$	3,208		$	14,774
Adjusted EBITDA		65,719		54,413		(49,339	)		70,793
Segment assets		308,357		220,768		51,356			580,481
Capital expenditures		13,381		1,268		6,893			21,542

Year Ended December 31, 2021

	Segment
	FVS		SV		Eliminations and Other			Consolidated
Fleet vehicles sales	$	624,874	$	-	$	-		$	624,874
Motorhome chassis sales		-		168,166		-			168,166
Other specialty vehicles sales		-		145,134		-			145,134
Aftermarket parts and accessories sales		34,558		19,060		-			53,618
Total sales	$	659,432	$	332,360	$	-		$	991,792

Depreciation and amortization expense	$	2,654	$	6,832	$	1,870		$	11,356
Adjusted EBITDA		108,621		32,668		(33,223	)		108,066
Segment assets		174,799		202,302		70,766			447,867
Capital expenditures		16,647		4,198		2,163			23,008

Year Ended December 31, 2020

	Segment
	FVS		SV		Eliminations and Other			Consolidated
Fleet vehicles sales	$	428,499	$	-	$	-		$	428,499
Motorhome chassis sales		-		107,849		-			107,849
Other specialty vehicles sales		-		94,633		-			94,633
Aftermarket parts and accessories sales		34,956		10,036		-			44,992
Total sales	$	463,455	$	212,518	$	-		$	675,973

Depreciation and amortization expense	$	3,018	$	6,323	$	4,562		$	13,903
Adjusted EBITDA		83,292		20,900		(27,846	)		76,346
Segment assets		118,444		190,306		50,299			359,049
Capital expenditures		9,423		4,263		2,260			15,946

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

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Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2022

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

APPENDIX A

SCHEDULE II
VALUATION AND QUALIFYING ACCOUNTS
THE SHYFT GROUP, INC. AND SUBSIDIARIES

Column A	Column B		Column C				Column D			Column E

Description	Balance at Beginning of Period		Additions Charged to Costs and Expenses		Additions Charged to Other Accounts (Acquisition)		Deductions			Balance at End of Period
Year ended December 31, 2022:

Allowance for doubtful accounts	$	187	$	240	$	-	$	(181	)	$	246


Year ended December 31, 2021:

Allowance for doubtful accounts	$	116	$	149	$	-	$	(78	)	$	187


Year ended December 31, 2020:

Allowance for doubtful accounts	$	228	$	69	$	-	$	(181	)	$	116

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Dec. 31, 2022
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The consolidated financial statements include our accounts and the accounts of our wholly owned subsidiary, The Shyft Group USA, Inc. and its subsidiaries. All inter-company transactions have been eliminated.
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block]	Non-Controlling Interest. At December 31, 2022, The Shyft Group USA, Inc. held a 50% share in Spartan-Gimaex, however, due to the management and operational structure of the joint venture, The Shyft Group USA, Inc. was considered to have had the ability to control the operations of Spartan-Gimaex. Accordingly, Spartan-Gimaex is reported as a consolidated subsidiary of The Shyft Group, Inc. The joint venture is not currently active and the liquidation is substantially complete. In December 2021, the Company purchased the remaining 20% ownership interest in Strobes-R-Us (“SRUS”) for $2,162 and, thus, there was no non-controlling interest in SRUS as of December 31, 2021.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates. In the preparation of our financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”), management uses estimates and makes judgments and assumptions that affect asset and liability values and the amounts reported as income and expense during the periods presented. Certain of these estimates, judgments and assumptions, such as the allowance for credit losses, warranty expenses, impairment assessments of tangible and intangible assets, and the provision for income taxes, are particularly sensitive. If actual results are different from estimates used by management, they may have a material impact on the financial statements.
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition. Essentially all of our revenue is generated through contracts with our customers. We may recognize revenue over time or at a point in time when or as obligations under the terms of a contract with our customer are satisfied, depending on the terms and features of the contract and the products supplied. Our contracts generally do not have any significant variable consideration. The collectability of consideration on the contract is reasonably assured before revenue is recognized. On certain vehicles, payment may be received in advance of us satisfying our performance obligations. Such payments are recorded in Deposits from customers on the Consolidated Balance Sheets. The corresponding performance obligations are generally satisfied within one year of the contract inception. In such cases, we have elected to apply the practical expedient to not adjust the promised amount of consideration for the effects of a significant financing component. The financing impact on contracts that contain performance obligations that are not expected to be satisfied within one year are expected to be immaterial to our consolidated financial statements. We have elected to utilize the practical expedient to recognize the incremental costs of obtaining a contract as an expense when incurred because the amortization period for the prepaid costs that would have otherwise been deferred and amortized is one year or less. We use an observable price to allocate the stand-alone selling price to separate performance obligations within a contract or a cost-plus margin approach when an observable price is not available. The estimated costs to fulfill our base warranties are recognized as expense when the products are sold (see “Note 11 – Commitments and Contingent Liabilities” for further information on warranties). Our contracts with customers do not contain a provision for product returns, except for contracts related to certain parts sales. Revenue for parts sales for all segments is recognized at the time that control and risk of ownership has passed to the customer, which is generally when the ordered part is shipped to the customer. Historical return rates on parts sales have been immaterial. For certain of our vehicles and chassis, we sell separately priced service contracts that provide roadside assistance or extend certain warranty coverage beyond our base warranty agreements. These separately priced contracts range from one to six years from the date of the shipment of the related vehicle or chassis. We receive payment with the shipment of the related vehicle or at the inception of the extended service contract, if later, and recognize revenue over the coverage term of the agreement, generally on a straight-line basis, which approximates the pattern of costs expected to be incurred in satisfying the obligations under the contract. Distinct revenue recognition policies for our segments are as follows: Fleet Vehicles and Services (“FVS”) Our walk-in vans and truck bodies are generally built on a chassis that is owned and controlled by the customer. Due to the customer ownership of the chassis, the performance obligation for these walk-in vans and truck bodies is satisfied as the vehicles are built. Accordingly, the revenue and corresponding cost of products sold associated with these contracts are recognized over time based on the inputs completed for a given performance obligation during the reporting period. Certain contracts will specify that a walk-in van or truck body is to be built on a chassis that we purchase and subsequently sell to the customer. The revenue on these contracts is recognized at the time that the performance obligation is satisfied, and control and risk of ownership has passed to the customer, which is generally upon shipment of the vehicle from our manufacturing facility to the customer or receipt of the vehicle by the customer, depending on contract terms. We have elected to treat shipping and handling costs subsequent to transfer of control as fulfillment activities and, accordingly, recognize these costs as the revenue is recognized. Revenue for upfit and field service contracts is recognized over time, as equipment is installed in the customer’s vehicle or as repairs and enhancements are made to the customer’s vehicles. Revenue and the corresponding cost of products sold is estimated based on the inputs completed for a given performance obligation. Our receivables are generally collected in less than three months, in accordance with our underlying payment terms. Specialty Vehicles (“SV”) We recognize revenue and the corresponding cost of products sold on the sale of motorhome chassis when the performance obligation is completed and control and risk of ownership of the chassis has passed to our customer, which is generally upon shipment of the chassis or vehicle to the customer. Revenue and the corresponding cost of products sold associated with other specialty vehicles is recognized over time based on the inputs completed for a given performance obligation during the reporting period. Other specialty vehicles are generally built on a chassis that is owned and controlled by the customer. Due to the customer ownership of the chassis, the performance obligations for other specialty chassis contracts are satisfied as the products are assembled. Our receivables will generally be collected in less than three months, in accordance with our underlying payment terms. Some of our service bodies are built on a chassis that is owned and controlled by the customer. Due to the customer ownership of the chassis, the performance obligation for these service bodies is satisfied as the vehicles are built. Accordingly, the revenue and corresponding cost of products sold associated with these contracts are recognized over time based on the inputs completed for a given performance obligation during the reporting period. Certain contracts will specify that a service body is to be built on a chassis that we purchase and subsequently sell to the customer. The revenue on these contracts is recognized at the time that the performance obligation is satisfied, and control and risk of ownership has passed to the customer, which is generally upon shipment of the vehicle from our manufacturing facility to the customer or receipt of the vehicle by the customer, depending on contract terms. We have elected to treat shipping and handling costs subsequent to transfer of control as fulfillment activities and, accordingly, recognize these costs as the revenue is recognized. Revenue for upfit and field service contracts is recognized over time, as equipment is installed in the customer’s vehicle or as repairs and enhancements are made to the customer’s vehicles. Revenue and the corresponding cost of products sold is estimated based on the inputs completed for a given performance obligation. Our receivables are generally collected in less than three months, in accordance with our underlying payment terms.
Business Combinations Policy [Policy Text Block]	Business Combinations. When acquiring other businesses, we recognize identifiable assets acquired and liabilities assumed at their acquisition date estimated fair values, and separately from any goodwill that may be required to be recognized. Goodwill, when recognizable, is measured as the excess amount of any consideration transferred, which is measured at fair value, over the acquisition date fair values of the identifiable assets acquired and liabilities assumed. Amounts recorded in a business combination may change during the measurement period, which is a period not to exceed one year from the date of acquisition, as additional information about conditions existing at the acquisition date becomes available. Accounting for such acquisitions requires us to make significant assumptions and estimates and are adjusted during the measurement period for a period of up to one year after the acquisition date. Costs incurred to effect an acquisition, such as legal, accounting, valuation or other third-party costs, as well as internal general and administrative costs incurred are charged to expense in the periods incurred.
Shipping and Handling of Products [Policy Text Block]	Shipping and Handling of Products. Costs incurred related to the shipment and handling of products are classified in cost of products sold. Amounts billed to customers for shipping and handling of products are included in sales.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents include cash on hand, cash on deposit, treasuries and money market funds. We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
Accounts Receivable [Policy Text Block]	Accounts Receivable. Our receivables are subject to credit risk, and we do not typically require collateral on our accounts receivable. We perform periodic credit evaluations of our customers’ financial condition and generally require a security interest in the products sold. Receivables generally are due within 30 to 60 days. We maintain an allowance for customer accounts that reduces receivables to amounts that are expected to be collected. In estimating the allowance for doubtful accounts consistent with it reflecting related lifetime expected credit losses, management considers relevant information about past events, current conditions and reasonable and supportable forecasts that affect the collectability of financial assets.
Inventory, Policy [Policy Text Block]	Inventories are stated at the lower of first-in, first-out cost or net realizable value. Net realizable value is the estimated selling price in the ordinary course of business less cost to sell and considers our current assessment of general market and economic conditions, slow-moving inventory, and future demands.
Contract Assets, Policy [Policy Text Block]	Contract Assets arise upon the transfer of goods or services to a customer before the customer pays consideration. The Company presents the contract as either a contract asset or as a receivable, depending on the nature of the entity’s right to consideration for its performance. Contract assets are a right to consideration in exchange for goods or services that the Company has transferred to a customer, when the right is conditioned on something other than the passage of time.
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment is stated at cost and the related assets are depreciated over their estimated useful lives on a straight-line basis for financial statement purposes and an accelerated method for income tax purposes. Cost includes an amount of interest associated with significant capital projects. Estimated useful lives range from 20 years for buildings and improvements, three to 15 years for plant machinery and equipment, three to seven years for furniture and fixtures and three to five years for vehicles. Leasehold improvements are depreciated over the shorter of the lease term or the estimated useful life of the asset. Maintenance and repair costs are charged to earnings, while expenditures that increase asset lives are capitalized. We review our property, plant and equipment, along with all other long-lived assets that have finite lives, including finite-lived intangible assets, for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. See “Note 7 – Property, Plant and Equipment” for further information on our property and equipment.
Discontinued Operations, Policy [Policy Text Block]	Assets and Liabilities Held for Sale We classify assets and liabilities (disposal groups) to be sold as held for sale in the period in which all of the following criteria are met: management, having the authority to approve the action, commits to a plan to sell the disposal group; the disposal group is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such disposal groups; an active program to locate a buyer and other actions required to complete the plan to sell the disposal group have been initiated; the sale of the disposal group is probable, and transfer of the disposal group is expected to qualify for recognition as a completed sale within one year, except if events or circumstances beyond the Company's control extend the period of time required to sell the disposal group beyond one year; the disposal group is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. We initially measure a disposal group that is classified as held for sale at the lower of its carrying value or fair value less costs to sell. Any loss resulting from this measurement is recognized in the period in which the held for sale criteria are met. Conversely, gains are not recognized on the sale of a disposal group until the date of sale. We assess the fair value of a disposal group each reporting period it remains classified as held for sale and any subsequent changes are reported as an adjustment to the carrying value of the disposal group, as long as the new carrying value does not exceed the carrying value of the disposal group at the time it was initially classified as held for sale. Upon determining that a disposal group meets the criteria to be classified as held for sale, the Company reports the assets and liabilities of the disposal group, if material, in the line items assets held for sale and liabilities held for sale in the Consolidated Balance Sheets. Depreciation is not recorded during the period in which the long-lived assets, included in the disposal group, are classified as held for sale. Additionally, we report the reporting results for a disposal group in discontinued operations separately from continuing operations to distinguish the financial impact of disposal transactions from ongoing operations if the disposal represents a strategic shift that has or will have a major effect on our operations and financial results.
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill and Other Intangible Assets. Goodwill represents the excess of the cost of a business combination over the fair value of the net assets acquired. Goodwill and intangible assets deemed to have indefinite lives are not amortized but are subject to impairment tests on an annual basis, or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Goodwill is allocated to the reporting unit from which it was created. A reporting unit is an operating segment or sub-segment to which goodwill is assigned when initially recorded. We review indefinite lived intangible assets annually for impairment by comparing the carrying value of those assets to their fair value. Other intangible assets with finite lives are amortized over their estimated useful lives and are tested for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. We perform our annual goodwill and indefinite lived intangible assets impairment test as of October 1 and monitor for interim triggering events on an ongoing basis. For goodwill we first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Under authoritative guidance, we are not required to calculate the fair value of a reporting unit unless we determine that it is more likely than not that the fair value of the reporting unit is less than its carrying amount. We have the option to bypass the qualitative assessment and proceed to a quantitative impairment test. If we elect to bypass the qualitative assessment for a reporting unit, or if after completing the assessment we determine that it is more likely than not that the fair value of a reporting unit is less than its carrying value, we perform a quantitative impairment test, whereby we compare the fair value of a reporting unit with its carrying amount, including goodwill. The fair value of the reporting unit is determined by estimating the future cash flows of the reporting unit to which the goodwill relates, and then discounting the future cash flows at a market-participant-derived weighted-average cost of capital (“WACC”). In determining the estimated future cash flows, we consider current and projected future levels of income based on our plans for that business; business trends, prospects and market and economic conditions; and market-participant considerations. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered to not be impaired. If the carrying amount of the reporting unit exceeds its estimated fair value, an impairment loss is recognized in an amount equal to the excess, up to the carrying value of the goodwill. We evaluate the recoverability of our indefinite lived intangible assets by comparing the estimated fair value of the trade names with their carrying values. We estimate the fair value of our trade names based on estimates of future royalty payments that are avoided through our ownership of the trade name, discounted to their present value. In determining the estimated fair value of the trade names, we consider current and projected future levels of sales based on our plans for those branded products, business trends, prospects and market and economic conditions. Significant judgments inherent in these assessments and analyses include assumptions about macroeconomic and industry conditions, appropriate sales growth rates, WACC and the amount of expected future net cash flows. The judgments and assumptions used in the estimate of fair value are generally consistent with the projections and assumptions that are used in current operating plans. Such assumptions are subject to change because of changing economic and competitive conditions. The determination of fair value is highly sensitive to differences between estimated and actual cash flows and changes in the related discount rate used to evaluate the fair value of the reporting units and trade names. See “Note 2 – Discontinued Operations” for further details on our goodwill and indefinite-lived intangible assets related to the ERV business. See “Note 6 – Goodwill and Intangible Assets” for further details on our goodwill and other intangible assets.
Standard Product Warranty, Policy [Policy Text Block]	Warranties. Our policy is to record a provision for the estimated cost of warranty-related claims at the time of the sale, and periodically adjust the warranty liability to reflect actual experience. The amount of warranty liability accrued reflects management’s best estimate of the expected future cost of honoring our obligations under the warranty agreements. Expense related to warranty liabilities accrued for product sales, as well as adjustments to pre-existing warranty liabilities, are reflected within Cost of products sold on our Consolidated Statements of Operations. Our estimates are based on historical experience, the number of units involved, and the extent of features and components included in product models. See “Note 11 – Commitments and Contingent Liabilities” for further information regarding warranties.
Deposits from Customers [Policy Text Block]	Contract Liabilities. We sometimes receive advance payments from customers for product orders and record these amounts as liabilities. We accept such deposits when presented by customers seeking improved pricing in connection with orders that are placed for products to be manufactured and sold at a future date. Sales associated with these deposits are recognized over time based on the inputs completed for a given performance obligation during the reporting period or deferred and recognized upon shipment of the related product to the customer depending on the terms of the contract.
Research and Development Expense, Policy [Policy Text Block]	Research and Development. Our research and development costs, which consist of compensation costs, travel and entertainment, administrative expenses and new product development among other items, are expensed as incurred.
Income Tax, Policy [Policy Text Block]	Taxes on Income. We recognize deferred income tax assets and liabilities using enacted tax rates for the effect of temporary differences between the book and tax bases of recorded assets and liabilities. Deferred tax liabilities generally represent tax expense recognized for which payment has been deferred, or expenses which have been deducted in our tax returns, but which have not yet been recognized as an expense in our financial statements. We establish valuation allowances for deferred income tax assets in accordance with GAAP, which provides that such valuation allowances shall be established unless realization of the income tax benefits is more likely than not. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. At each reporting period, we consider the scheduled reversal of deferred tax liabilities, available taxes in carryback periods, tax planning strategies and projected future taxable income in making this assessment. We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. The determination is based on the technical merits of the position and presumes that each uncertain tax position will be examined by the relevant taxing authority that has full knowledge of all relevant information. Although we believe the estimates are reasonable, no assurance can be given that the final outcome of these matters will not be different than what is reflected in the historical income tax provisions and accruals. Interest and penalties attributable to income taxes are recorded as a component of income taxes. See “Note 9 – Taxes on Income” for further details on our income taxes.
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Share. Basic earnings per share is based on the weighted average number of common shares outstanding during the period. Diluted earnings per share also include the dilutive effect of additional potential common shares issuable from stock-based awards and are determined using the treasury stock method. Basic earnings per share represents net earnings divided by basic weighted average number of common shares outstanding during the period. Diluted earnings per share represents net earnings divided by diluted weighted average number of common shares outstanding, which includes the average dilutive effect of all potentially dilutive securities that are outstanding during the period. Our unvested restricted stock units and performance stock units are included in the number of shares outstanding for diluted earnings per share calculations, unless a net loss is reported, in which situation unvested stock awards are excluded from the number of shares outstanding for diluted earnings per share calculations. See “Note 14 – Stock-Based Compensation” and “Note 16 – Earnings Per Share” for further details.
Share-Based Payment Arrangement [Policy Text Block]	Stock-Based Compensation. Stock based compensation cost for equity-based awards is measured on the grant date based on the estimated fair value of the award at that date, and is recognized over the requisite service period, net of estimated forfeitures. Fair value of restricted stock awards, restricted stock units and performance stock units subject to a performance condition is based upon the quoted market price of the common stock on the date of grant. Fair value of performance stock units subject to a market condition is calculated using the Monte Carlo simulation model. Our stock-based compensation plans are described in more detail in “Note 14 – Stock Based Compensation”.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value. We are required to disclose the estimated fair value of our financial instruments. The carrying value at December 31, 2022 and 2021 of cash and cash equivalents, accounts receivable and accounts payable approximate their fair value due to their short-term nature. The carrying value of variable rate debt instruments approximate their fair value based on their relative terms and market rates.
Segment Reporting, Policy [Policy Text Block]	Segment Reporting. We identify our reportable segments based on our management structure and the financial data utilized by the chief operating decision maker to assess segment performance and allocate resources among our operating units. We have two reportable segments: Fleet Vehicles and Services and Specialty Vehicles. More detailed information about our reportable segments can be found in “Note 17 – Business Segments”.
Supplemental Disclosures of Cash Flow Policy [Policy Text Block]	Supplemental Disclosures of Cash Flow Information. Cash paid for interest was $2,176, $592, and $1,757 for 2022, 2021, and 2020. Cash paid for income taxes, net of refunds, was $1,319, $12,199, and $608 for 2022, 2021 and 2020. Non-cash investing in 2022 included $2,489 of capital expenditures, $1,511 in 2021, and $1,496 in 2020. The Company has Chassis Pool Agreements, where it participates in a chassis converter pool that is a non-cash arrangement and is offsetting between current assets and current liabilities on the Company’s Consolidated Balance Sheets. See “Note 13 – Debt” for further information about the Chassis Pool Agreements.

Note 2 - Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2022

Disposal Groups, Including Discontinued Operations [Table Text Block]

	Year Ended December 31,
	2022		2021			2020

Sales	$	-	$	-		$	19,167
Cost of products sold		-		-			18,678
Gross profit		-		-			489
Operating expenses		-		-			4,484
Operating loss		-		-			(3,995	)
Loss on asset impairments		-		-			-
Other income (expense)		-		243			(3,383	)
Income (loss) from discontinued operations before taxes		-		243			(7,378	)
Income tax (expense) benefit		-		(62	)		2,255
Net income (loss) from discontinued operations	$	-	$	181		$	(5,123	)

	Year Ended December 31,
	2022		2021		2020

Depreciation and amortization	$	-	$	-	$	284
Capital expenditures	$	-	$	-	$	84

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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Note 4 - Revenue (Tables)

12 Months Ended

Dec. 31, 2022

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]

	December 31, 2022			December 31, 2021
Contract Assets
Contract assets, beginning of year	$	21,483		$	9,414
Reclassification of the beginning contract assets to receivables, as the result of rights to consideration becoming unconditional		(21,483	)		(9,414	)
Contract assets recognized, net of reclassification to receivables		86,993			21,483
Contract assets, end of year	$	86,993		$	21,483

Contract Liabilities
Contract liabilities, beginning of year	$	988		$	756
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied		(988	)		(743	)
Cash received in advance and not recognized as revenue		5,255			975
Contract liabilities, end of year	$	5,255		$	988

Disaggregation of Revenue [Table Text Block]

	Year Ended December 31, 2022
	FVS		SV		Total Reportable Segments		Eliminations and Other			Total
Primary geographical markets
United States	$	639,441	$	386,536	$	1,025,977	$	(6,483	)	$	1,019,494
Other		7,562		108		7,670		-			7,670
Total sales	$	647,003	$	386,644	$	1,033,647	$	(6,483	)	$	1,027,164

Timing of revenue recognition
Products transferred at a point in time	$	41,750	$	208,645	$	250,395	$	-		$	250,395
Products and services transferred over time		605,253		177,999		783,252		(6,483	)		776,769
Total sales	$	647,003	$	386,644	$	1,033,647	$	(6,483	)	$	1,027,164

	Year Ended December 31, 2021
	FVS		SV		Total Reportable Segments		Eliminations and Other		Total
Primary geographical markets
United States	$	647,842	$	332,293	$	980,135	$	-	$	980,135
Other		11,590		67		11,657		-		11,657
Total sales	$	659,432	$	332,360	$	991,792	$	-	$	991,792

Timing of revenue recognition
Products transferred at a point in time	$	34,558	$	198,852	$	233,410	$	-	$	233,410
Products and services transferred over time		624,874		133,508		758,382		-		758,382
Total sales	$	659,432	$	332,360	$	991,792	$	-	$	991,792

	Year Ended December 31, 2020
	FVS		SV		Total Reportable Segments		Eliminations and Other		Total
Primary geographical markets
United States	$	454,403	$	212,109	$	666,512	$	-	$	666,512
Other		9,055		406		9,461		-		9,461
Total sales	$	463,458	$	212,515	$	675,973	$	-	$	675,973

Timing of revenue recognition
Products transferred at a point in time	$	44,418	$	127,801	$	172,219	$	-	$	172,219
Products and services transferred over time		419,040		84,714		503,754		-		503,754
Total sales	$	463,458	$	212,515	$	675,973	$	-	$	675,973

Note 5 - Inventories (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Inventory, Current [Table Text Block]

	December 31,
	2022		2021
Finished goods	$	13,361	$	2,990
Work in process		5,200		2,471
Raw materials and purchased components		81,600		61,723
Total Inventories	$	100,161	$	67,184

Note 6 - Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Goodwill [Table Text Block]

	FVS				SV					Total
	December 31,				December 31,					December 31,
	2022		2021		2022		2021			2022		2021
Goodwill, beginning of year	$	15,323	$	15,323	$	33,557	$	34,158		$	48,880	$	49,481
Acquisition and measurement period adjustments		-		-		-		(601	)		-		(601	)
Goodwill, end of year	$	15,323	$	15,323	$	33,557	$	33,557		$	48,880	$	48,880

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	As of December 31, 2022						As of December 31, 2021
	Gross carrying amount		Accumulated amortization		Net		Gross carrying amount		Accumulated amortization		Net
Customer relationships	$	39,080	$	12,174	$	26,906	$	39,080	$	9,188	$	29,892
Unpatented technology		540		135		405		540		75		465
Patented technology		2,200		894		1,306		2,200		619		1,581
Non-compete agreements		2,980		1,909		1,071		2,980		1,327		1,653
Trade Names		19,390		-		19,390		19,390		-		19,390
	$	64,190	$	15,112	$	49,078	$	64,190	$	11,209	$	52,981

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

	Amount
2023		3,810
2024		3,477
2025		3,070
2026		2,944
2027		2,706
Thereafter		13,681
Total	$	29,688

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

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Note 7 - Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Table Text Block]

	December 31,
	2022			2021
Land and improvements	$	12,314		$	9,810
Buildings and improvements		42,827			45,724
Plant machinery and equipment		55,969			49,305
Furniture and fixtures		18,334			20,421
Vehicles		2,083			2,607
Construction in process		9,946			12,700
Subtotal		141,473			140,567
Less accumulated depreciation		(70,720	)		(79,510	)
Total property, plant and equipment, net	$	70,753		$	61,057

Note 8 - Leases (Tables)

12 Months Ended

Dec. 31, 2022

Lease, Cost [Table Text Block]

	Year ended December 31, 2022		Year ended December 31, 2021		Year ended December 31, 2020
Operating leases	$	10,302	$	8,233	$	6,699
Short-term leases (1)		301		446		214
Total lease expense	$	10,603	$	8,679	$	6,913

Year ended

December 31,

2022

Year ended

December 31,

2021

Weighted average remaining lease term of operating leases (in years)

8.0

8.9

Weighted average discount rate of operating leases

2.7

3.0

	Year ended December 31, 2022		Year ended December 31, 2021		Year ended December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow for operating leases	$	9,500	$	7,958	$	6,338

Right of use assets obtained in exchange for lease obligations:
Operating leases	$	19,159	$	7,137	$	16,829
Finance leases	$	304	$	271	$	141

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Years ending December 31:
2023		10,952
2024		10,047
2025		8,902
2026		6,873
2027		4,610
Thereafter		20,127
Total lease payments		61,511
Less: imputed interest		(6,367	)
Total lease liabilities	$	55,144

Note 9 - Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Income Tax Expense (Benefit), Including Discontinued Operations [Table Text Block]

	Year Ended December 31,
	2022		2021		2020
Taxes on income from continuing operations	$	7,368	$	14,506	$	9,867
Income tax expense (benefit) from discontinued operations		-		62		(2,255	)
Total taxes on income	$	7,368	$	14,568	$	7,612

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

	Year Ended December 31,
	2022			2021		2020
Current (benefit):
Federal	$	10,672		$	10,891	$	8,191
State		1,960			2,745		2,474
Foreign		175			286		156
Total current		12,807			13,922		10,821
Deferred (benefit):
Federal		(4,976	)		554		(975	)
State		(463	)		30		21
Total deferred		(5,439	)		584		(954	)
Total taxes on income	$	7,368		$	14,506	$	9,867

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

	Year Ended December 31,
	2022			2021			2020
Federal income taxes at the statutory rate	$	9,224		$	17,741		$	10,113
State tax expense, net of federal income tax benefit		1,132			2,481			1,895
Increase (decrease) in income taxes resulting from:
Tax rate benefit from NOL carryback due to CARES Act		-			-			(2,610	)
Other deferred income tax adjustment		-			-			174
Non-deductible compensation		851			958			1,162
Other non-deductible expenses		-			-			94
Stock based compensation		(819	)		(1,504	)		(666	)
Foreign tax expense		-			-			156
Valuation allowance adjustment		-			(82	)		(254	)
Unrecognized tax benefit adjustment		-			-			(14	)
Federal research and development tax credit		(2,681	)		(4,413	)		(329	)
Foreign tax credit		-			-			(32	)
Other		(339	)		(675	)		178
Total	$	7,368		$	14,506		$	9,867

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

	December 31,
	2022			2021
Deferred income tax assets:
Operating lease liability	$	13,664		$	10,917
Research and development costs		12,066			-
Warranty reserve		1,592			1,330
Inventory costs and reserves		5,926			1,862
Deferment of employer's portion Social Security tax payment		-			526
Contract assets		10,030			2,518
Stock-based compensation		1,261			1,361
Net operating loss carry-forwards, net of federal income tax benefit		556			880
Compensation related accruals		621			609
Credit carry-forwards net of federal income tax benefit		1,454			1,332
Other		879			837
Total deferred income tax assets	$	48,049		$	22,172

Deferred income tax liabilities:
Cost offset method	$	(14,371	)	$	-
Right of use assets		(13,121	)		(10,682	)
Depreciation		(7,901	)		(4,846	)
Intangible assets		(2,010	)		(1,693	)
Prepaid expenses		(256	)		(71	)
Total deferred income tax liabilities	$	(37,659	)	$	(17,292	)

Net deferred tax asset	$	10,390		$	4,880

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

	2022			2021			2020
Balance at January 1,		5,247		$	1,234		$	1,270
Increase (decrease) related to prior year tax positions		(139	)		2,935			(109	)
Increase related to current year tax positions		775			1,161			101
Settlement		(97	)		-			-
Expiration of statute		(38	)		(83	)		(28	)
Balance at December 31,	$	5,748		$	5,247		$	1,234

Note 10 - Transactions with Major Customers (Tables)

12 Months Ended

Dec. 31, 2022

Schedules of Concentration of Risk, by Risk Factor [Table Text Block]

Year	Number of major customers		Combined percentage of consolidated sales			Segment
2022		2		25.4	%	FVS and SV
2021		1		25.1	%	FVS
2020		1		29.3	%	FVS

Note 11 - Commitments and Contingent Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Product Warranty Liability [Table Text Block]

	2022			2021
Balance of accrued warranty at January 1	$	5,975		$	5,633
Provisions for current period sales		4,904			2,211
Cash settlements		(4,681	)		(4,234	)
Changes in liability for pre-existing warranties		963			2,076
Acquisitions		-			289
Balance of accrued warranty at December 31	$	7,161		$	5,975

Note 13 - Debt (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Short-Term Debt [Table Text Block]

	December 31, 2022		December 31, 2021
Chassis pool agreements	$	19,544	$	9,926
Total short-term debt	$	19,544	$	9,926

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

	December 31, 2022			December 31, 2021
Revolving credit facility	$	56,000		$	-
Finance lease obligations		455			450
Other		-			540
Total debt		56,455			990
Less current portion of long-term debt		(189	)		(252	)
Total long-term debt	$	56,266		$	738

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.

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Note 14 - Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

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

	Total Number of Non-vested Shares (000)			Weighted Average Grant Date Fair Value		Weighted Average Remaining Vesting Life (Years)
Non-vested shares outstanding at January 1, 2020		711		$	8.58		0.9
Granted		172			13.07
Vested		(460	)		8.42
Forfeited		(53	)		11.85
Non-vested shares outstanding at December 31, 2020		370			10.02		1.0
Granted		85			36.76
Vested		(230	)		11.26
Forfeited		(35	)		20.45
Non-vested shares outstanding at December 31, 2021		190			21.81		1.0
Vested		(91	)		17.62
Forfeited		(28	)		21.98
Non-vested shares outstanding at December 31, 2022		71		$	27.14		0.6

Schedule of Share-based Payment Award, Valuation Assumptions [Table Text Block]

	Granted in 2022			Granted in 2021			Granted in 2020
Three-year risk-free interest rate ⁽¹⁾		2.41	%		0.29	%		0.27	%
Expected term (in years)		2.7			2.8			2.7
Estimated volatility ⁽²⁾		55.6	%		61.9	%		58.2	%

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

	Total Number of Non-vested Shares (000)			Weighted- Average Grant Date Fair Value per Unit
Non-vested as of January 1, 2020		218		$	11.82
Granted		214			15.28
		(22	)		11.82
Non-vested as of December 31, 2020		410			13.63
Granted		85			48.08
Forfeited		(12	)		26.94
Non-vested as of December 31, 2021		483			19.33
Granted		124			40.49
Forfeited		(38	)		28.27
Vested		(194	)		11.82
Non-vested as of December 31, 2022		375		$	29.31

	Total Number of Non-vested Shares (000)			Weighted- Average Grant Date Fair Value per Unit
Non-vested as of January 1, 2020		182		$	8.98
Granted		194			13.45
Forfeited		(6	)		16.17
Vested		(158	)		9.56
Non-vested as of December 31, 2020		212			12.43
Granted		111			36.76
Forfeited		(3	)		37.09
Vested		(119	)		14.08
Non-vested as of December 31, 2021		201			24.51
Granted		241			29.58
Forfeited		(30	)		32.96
Vested		(105	)		22.15
Non-vested as of December 31, 2022		307		$	28.38

Note 15 - Shareholders Equity (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Common Stock Repurchased and Retired [Table Text Block]

Year Ended

December 31,

purchased

(000)

Purchase

value

Approximate Dollar Value of Shares That
May Yet be Purchased Under Announced Plans or Programs

2022

607

26,789

242,102

Note 16 - Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Weighted Average Number of Shares [Table Text Block]

	Year Ended December 31,
	2022		2021		2020
Basic weighted average common shares outstanding		35,073		35,333		35,479
Plus dilutive effect of Restricted Stock Units and Performance Stock Units		421		764		560
Diluted weighted average common shares outstanding		35,494		36,097		36,039

Note 17 - Business Segments (Tables)

12 Months Ended

Dec. 31, 2022

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

	Segment
	FVS		SV		Eliminations and Other			Consolidated
Fleet vehicles sales	$	605,253	$	-	$	-		$	605,253
Motorhome chassis sales		-		175,030		-			175,030
Other specialty vehicles sales		-		191,882		(6,483	)		185,399
Aftermarket parts and accessories sales		41,750		19,732		-			61,482
Total sales	$	647,003	$	386,644	$	(6,483	)	$	1,027,164

Depreciation and amortization expense	$	4,555	$	7,011	$	3,208		$	14,774
Adjusted EBITDA		65,719		54,413		(49,339	)		70,793
Segment assets		308,357		220,768		51,356			580,481
Capital expenditures		13,381		1,268		6,893			21,542

	Segment
	FVS		SV		Eliminations and Other			Consolidated
Fleet vehicles sales	$	624,874	$	-	$	-		$	624,874
Motorhome chassis sales		-		168,166		-			168,166
Other specialty vehicles sales		-		145,134		-			145,134
Aftermarket parts and accessories sales		34,558		19,060		-			53,618
Total sales	$	659,432	$	332,360	$	-		$	991,792

Depreciation and amortization expense	$	2,654	$	6,832	$	1,870		$	11,356
Adjusted EBITDA		108,621		32,668		(33,223	)		108,066
Segment assets		174,799		202,302		70,766			447,867
Capital expenditures		16,647		4,198		2,163			23,008

	Segment
	FVS		SV		Eliminations and Other			Consolidated
Fleet vehicles sales	$	428,499	$	-	$	-		$	428,499
Motorhome chassis sales		-		107,849		-			107,849
Other specialty vehicles sales		-		94,633		-			94,633
Aftermarket parts and accessories sales		34,956		10,036		-			44,992
Total sales	$	463,455	$	212,518	$	-		$	675,973

Depreciation and amortization expense	$	3,018	$	6,323	$	4,562		$	13,903
Adjusted EBITDA		83,292		20,900		(27,846	)		76,346
Segment assets		118,444		190,306		50,299			359,049
Capital expenditures		9,423		4,263		2,260			15,946

Schedule II - Valuation and Qualifying Accounts (Tables)

12 Months Ended

Dec. 31, 2022

Valuation Allowances and Reserves [Table Text Block]

Column A	Column B		Column C				Column D			Column E

Description	Balance at Beginning of Period		Additions Charged to Costs and Expenses		Additions Charged to Other Accounts (Acquisition)		Deductions			Balance at End of Period
Year ended December 31, 2022:

Allowance for doubtful accounts	$	187	$	240	$	-	$	(181	)	$	246


Year ended December 31, 2021:

Allowance for doubtful accounts	$	116	$	149	$	-	$	(78	)	$	187


Year ended December 31, 2020:

Allowance for doubtful accounts	$	228	$	69	$	-	$	(181	)	$	116

Note 1 - Nature of Operations and Basis of Presentation (Details Textual) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Payments for Repurchase of Redeemable Noncontrolling Interest		$ (0)	$ 2,162	$ (0)
Number of Reportable Segments		2
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total		$ 2,176	592	1,757
Income Taxes Paid, Net, Total		1,319	12,199	608
Capital Expenditures Incurred but Not yet Paid		$ 2,489	$ 1,511	$ 1,496
Building and Building Improvements [Member]
Property, Plant and Equipment, Useful Life (Year)		20 years
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)		3 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)		15 years
Furniture and Fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)		3 years
Furniture and Fixtures [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)		7 years
Vehicles [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)		3 years
Vehicles [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)		5 years
Spartan-Gimaex Joint Venture [Member]
Noncontrolling Interest, Ownership Percentage by Parent		50.00%
Strobes-R-Us [Member]
Noncontrolling Interest, Ownership Percentage by Parent	0.00%		0.00%
Noncontrolling Interest, Ownership Percentage by Parent, Purchased	20.00%
Payments for Repurchase of Redeemable Noncontrolling Interest			$ 2,162

Note 2 - Discontinued Operations (Details Textual) - Discontinued Operations, Disposed of by Sale [Member] - Disposal of Emergency Response and Vehicle Business [Member] - USD ($) $ in Millions	Oct. 01, 2020	Feb. 01, 2020
Proceeds from Divestiture of Businesses		$ 55.0
Payments for Divestiture of Businesses After Working Capital Adjustment	$ 7.5

Note 2 - Discontinued Operations - Schedule of Discontinued Operations for Financial Statements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income tax expense (benefit)	$ 0	$ 62	$ (2,255)
Net income (loss) from discontinued operations	0	181	(5,123)
Disposal of Emergency Response and Vehicle Business [Member] \| Discontinued Operations, Held-for-sale [Member]
Sales	0	0	19,167
Cost of products sold	0	0	18,678
Gross profit	0	0	489
Operating expenses	0	0	4,484
Operating loss	0	0	(3,995)
Loss on asset impairments	0	0	0
Other income (expense)	0	243	(3,383)
Income (loss) from discontinued operations before taxes	0	243	(7,378)
Income tax expense (benefit)	(0)	62	(2,255)
Net income (loss) from discontinued operations	0	181	(5,123)
Depreciation and amortization	0	0	284
Capital expenditures	$ 0	$ 0	$ 84

Note 3 - Acquisition Activities (Details Textual) - USD ($) $ in Thousands	Oct. 01, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill, Ending Balance		$ 48,880	$ 48,880	$ 49,481
DuraMag [Member]
Payments to Acquire Businesses, Gross	$ 17,299
Goodwill, Ending Balance			$ 5,401
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total	$ 5,590

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.

Note 4 - Revenue (Details Textual) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 $ in Thousands	Dec. 31, 2022 USD ($)
Fleet Vehicles and Services [Member]
Revenue, Remaining Performance Obligation, Amount	$ 736,690
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year
Specialty Vehicles [Member]
Revenue, Remaining Performance Obligation, Amount	$ 96,023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year

Note 4 - Revenue - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Contract assets, beginning of year	$ 21,483	$ 9,414
Reclassification of the beginning contract assets to receivables, as the result of rights to consideration becoming unconditional	(21,483)	(9,414)
Contract assets recognized, net of reclassification to receivables	86,993	21,483
Contract assets, end of year	86,993	21,483
Contract liabilities, beginning of year	988	756
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied	(988)	(743)
Cash received in advance and not recognized as revenue	5,255	975
Contract liabilities, end of year	$ 5,255	$ 988

Note 4 - Revenue - Disaggregated Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues	$ 1,027,164	$ 991,792	$ 675,973
Transferred at Point in Time [Member]
Revenues	250,395	233,410	172,219
Transferred over Time [Member]
Revenues	776,769	758,382	503,754
Operating Segments [Member]
Revenues	1,033,647	991,792	675,973
Operating Segments [Member] \| Transferred at Point in Time [Member]
Revenues	250,395	233,410	172,219
Operating Segments [Member] \| Transferred over Time [Member]
Revenues	783,252	758,382	503,754
Consolidation, Eliminations [Member]
Revenues	(6,483)	0	0
Consolidation, Eliminations [Member] \| Transferred at Point in Time [Member]
Revenues	0	0	0
Consolidation, Eliminations [Member] \| Transferred over Time [Member]
Revenues	(6,483)	0	0
Fleet Vehicles and Services [Member] \| Operating Segments [Member]
Revenues	647,003	659,432	463,458
Fleet Vehicles and Services [Member] \| Operating Segments [Member] \| Transferred at Point in Time [Member]
Revenues	41,750	34,558	44,418
Fleet Vehicles and Services [Member] \| Operating Segments [Member] \| Transferred over Time [Member]
Revenues	605,253	624,874	419,040
Specialty Vehicles [Member] \| Operating Segments [Member]
Revenues	386,644	332,360	212,515
Specialty Vehicles [Member] \| Operating Segments [Member] \| Transferred at Point in Time [Member]
Revenues	208,645	198,852	127,801
Specialty Vehicles [Member] \| Operating Segments [Member] \| Transferred over Time [Member]
Revenues	177,999	133,508	84,714
UNITED STATES
Revenues	1,019,494	980,135	666,512
UNITED STATES \| Operating Segments [Member]
Revenues	1,025,977	980,135	666,512
UNITED STATES \| Consolidation, Eliminations [Member]
Revenues	(6,483)	0	0
UNITED STATES \| Fleet Vehicles and Services [Member] \| Operating Segments [Member]
Revenues	639,441	647,842	454,403
UNITED STATES \| Specialty Vehicles [Member] \| Operating Segments [Member]
Revenues	386,536	332,293	212,109
Non-US [Member]
Revenues	7,670	11,657	9,461
Non-US [Member] \| Operating Segments [Member]
Revenues	7,670	11,657	9,461
Non-US [Member] \| Consolidation, Eliminations [Member]
Revenues	0	0	0
Non-US [Member] \| Fleet Vehicles and Services [Member] \| Operating Segments [Member]
Revenues	7,562	11,590	9,055
Non-US [Member] \| Specialty Vehicles [Member] \| Operating Segments [Member]
Revenues	$ 108	$ 67	$ 406

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

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Note 5 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Finished goods	$ 13,361	$ 2,990
Work in process	5,200	2,471
Raw materials and purchased components	81,600	61,723
Total Inventories	$ 100,161	$ 67,184

Note 6 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Amortization of Intangible Assets	$ 3,903	$ 3,405	$ 3,265

Note 6 - Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill, beginning of year	$ 48,880	$ 49,481
Acquisition and measurement period adjustments	0	(601)
Goodwill, end of year	48,880	48,880
Fleet Vehicles and Services [Member]
Goodwill, beginning of year	15,323	15,323
Acquisition and measurement period adjustments	0	0
Goodwill, end of year	15,323	15,323
Specialty Vehicles [Member]
Goodwill, beginning of year	33,557	34,158
Acquisition and measurement period adjustments	0	(601)
Goodwill, end of year	$ 33,557	$ 33,557

Weighted average remaining lease term of operating leases (in years) (Year)

Note 6 - Goodwill and Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accumulated amortization, finite-lived	$ 15,112	$ 11,209
Net carrying amount, finite-lived	29,688
Gross carrying amount, intangible assets	64,190	64,190
Net carrying amount, intangible assets	49,078	52,981
Customer Relationships [Member]
Gross carrying amount, finite-lived	39,080	39,080
Accumulated amortization, finite-lived	12,174	9,188
Net carrying amount, finite-lived	26,906	29,892
Unpatented Technology [Member]
Gross carrying amount, finite-lived	540	540
Accumulated amortization, finite-lived	135	75
Net carrying amount, finite-lived	405	465
Patented Technology [Member]
Gross carrying amount, finite-lived	2,200	2,200
Accumulated amortization, finite-lived	894	619
Net carrying amount, finite-lived	1,306	1,581
Noncompete Agreements [Member]
Gross carrying amount, finite-lived	2,980	2,980
Accumulated amortization, finite-lived	1,909	1,327
Net carrying amount, finite-lived	1,071	1,653
Trade Names [Member]
Accumulated amortization, finite-lived	0	0
Gross carrying amount, indefinite-lived	$ 19,390	$ 19,390

Note 6 - Goodwill and Intangible Assets - Estimated Remaining Amortization Associated With Finite-lived Intangible Assets (Details) $ in Thousands	Dec. 31, 2022 USD ($)
2023	$ 3,810
2024	3,477
2025	3,070
2026	2,944
2027	2,706
Thereafter	13,681
Total	$ 29,688

Note 7 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Depreciation, Total	$ 10,871	$ 7,977	$ 10,638
Interest Costs Capitalized	0	0	0
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	$ (0)	$ (0)	(2,430)
Change in Accounting Estimate, Income Statement Impact			4,365
Construction in Progress [Member]
Depreciation, Total			3,060
ERP System [Member]
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property			$ (2,430)

Note 7 - Property, Plant and Equipment - Summary of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, plant and equipment, gross	$ 141,473	$ 140,567
Less accumulated depreciation	(70,720)	(79,510)
Total property, plant and equipment, net	70,753	61,057
Land and Land Improvements [Member]
Property, plant and equipment, gross	12,314	9,810
Building and Building Improvements [Member]
Property, plant and equipment, gross	42,827	45,724
Machinery and Equipment [Member]
Property, plant and equipment, gross	55,969	49,305
Furniture and Fixtures [Member]
Property, plant and equipment, gross	18,334	20,421
Vehicles [Member]
Property, plant and equipment, gross	2,083	2,607
Construction in Progress [Member]
Property, plant and equipment, gross	$ 9,946	$ 12,700

Note 8 - Leases (Details Textual) - USD ($) $ in Thousands	12 Months Ended
Note 8 - Leases (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Lease, Expense	$ 10,603	$ 8,679	$ 6,913
Minimum [Member]
Leases, Remaining Lease Terms (Year)	1 year
Maximum [Member]
Leases, Remaining Lease Terms (Year)	17 years
Lessee, Operating Lease, Renewal Term (Year)	15 years

Note 8 - Leases - Lease Expense and Information (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Operating leases

$ 10,302

$ 8,233

$ 6,699

Short-term leases (1)

^[1]

301

446

214

Total lease expense

$ 10,603

$ 8,679

6,913

8 years

8 years 10 months 24 days

Weighted average discount rate of operating leases

2.70%

3.00%

Operating cash flow for operating leases

$ 9,500

$ 7,958

6,338

Operating leases

19,159

7,137

16,829

Finance leases

$ 304

$ 271

$ 141

[1]	Includes expenses for month-to-month equipment leases, which are classified as short-term as the Company is not reasonably certain to renew the lease term beyond one month.

Note 8 - Leases - Future Minimum Operating Lease Commitments Under Non-cancelable Operating Lease (Details) $ in Thousands	Dec. 31, 2022 USD ($)
2023	$ 10,952
2024	10,047
2025	8,902
2026	6,873
2027	4,610
Thereafter	20,127
Total lease payments	61,511
Less: imputed interest	(6,367)
Total lease liabilities	$ 55,144

Note 9 - Taxes on Income (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred Tax Assets, Valuation Allowance	$ 0	$ 0
Unrecognized Tax Benefits, Ending Balance	5,748	5,247	$ 1,234	$ 1,270
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total	690
Unrecognized Tax Benefits Including Income Tax Penalties And Interest Accrued	6,438
Unrecognized Tax Benefits Including Income Tax Penalties And Interest Accrued, Noncurrent	6,033
Deferred Tax Assets, Offsetting Credit, Unrecognized Tax Benefits	405
Unrecognized Tax Benefits, Period Increase (Decrease), Total	160	199	92
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	5,463	4,989	$ 1,234
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	704	1,114
Tax Credit Carryforward, Amount	$ 2,353	$ 2,289

Note 9 - Taxes on Income - Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Taxes on income from continuing operations	$ 7,368	$ 14,506	$ 9,867
Income tax expense (benefit) from discontinued operations	0	62	(2,255)
Total taxes on income	$ 7,368	$ 14,568	$ 7,612

Amount of tax expense (benefit) related to a discontinued operation. Includes, but is not limited to, tax expense (benefit) related to income (loss) from operations during the phase-out period, tax expense (benefit) related to gain (loss) on disposal, tax expense (benefit) related to gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and tax expense (benefit) related to adjustments of a prior period gain (loss) on disposal.

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

Note 9 - Taxes on Income - Income Tax from Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current (benefit):
Federal	$ 10,672	$ 10,891	$ 8,191
State	1,960	2,745	2,474
Foreign	175	286	156
Total current	12,807	13,922	10,821
Deferred (benefit):
Federal	(4,976)	554	(975)
State	(463)	30	21
Total deferred	(5,439)	584	(954)
Total taxes on income	$ 7,368	$ 14,506	$ 9,867

Note 9 - Taxes on Income - Income Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Federal income taxes at the statutory rate	$ 9,224	$ 17,741	$ 10,113
State tax expense, net of federal income tax benefit	1,132	2,481	1,895
Tax rate benefit from NOL carryback due to CARES Act	0	0	(2,610)
Other deferred income tax adjustment	0	0	174
Non-deductible compensation	851	958	1,162
Other non-deductible expenses	0	0	94
Stock based compensation	(819)	(1,504)	(666)
Foreign tax expense	0	0	156
Valuation allowance adjustment	0	(82)	(254)
Unrecognized tax benefit adjustment	0	0	(14)
Federal research and development tax credit	(2,681)	(4,413)	(329)
Foreign tax credit	0	0	(32)
Other	(339)	(675)	178
Total taxes on income	$ 7,368	$ 14,506	$ 9,867

Note 9 - Taxes on Income - Deferred Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred income tax assets:
Operating lease liability	$ 13,664	$ 10,917
Research and development costs	12,066	0
Warranty reserve	1,592	1,330
Inventory costs and reserves	5,926	1,862
Deferment of employer's portion Social Security tax payment	0	526
Contract assets	10,030	2,518
Stock-based compensation	1,261	1,361
Net operating loss carry-forwards, net of federal income tax benefit	556	880
Compensation related accruals	621	609
Credit carry-forwards net of federal income tax benefit	1,454	1,332
Other	879	837
Total deferred income tax assets	48,049	22,172
Deferred income tax liabilities:
Cost offset method	(14,371)	0
Right of use assets	(13,121)	(10,682)
Depreciation	(7,901)	(4,846)
Intangible assets	(2,010)	(1,693)
Prepaid expenses	(256)	(71)
Total deferred income tax liabilities	(37,659)	(17,292)
Net deferred tax asset	$ 10,390	$ 4,880

Note 9 - Taxes on Income - Reconciliation of the Change in the Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Balance at beginning of year	$ 5,247	$ 1,234	$ 1,270
Decrease related to prior year tax positions	(139)		(109)
Increase related to prior year tax positions		(2,935)
Increase related to current year tax positions	775	1,161	101
Settlement	(97)	0	0
Expiration of statute	(38)	(83)	(28)
Balance at end of year	$ 5,748	$ 5,247	$ 1,234

Note 10 - Transactions with Major Customers - Information about Major Customers (Details) - Revenue Benchmark [Member] - Customer Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fleet Vehicles and Services, and Specialty Vehicles [Member]
Number of major customers	2
Fleet Vehicles and Services, and Specialty Vehicles [Member] \| Two Customers [Member]
Combined percentage of consolidated sales	25.40%
Fleet Vehicles and Services [Member]
Number of major customers		1	1
Fleet Vehicles and Services [Member] \| One Customer [Member]
Combined percentage of consolidated sales		25.10%	29.30%

Note 11 - Commitments and Contingent Liabilities - Changes in Warranty Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Balance of accrued warranty	$ 5,975	$ 5,633
Provisions for current period sales	4,904	2,211
Cash settlements	(4,681)	(4,234)
Changes in liability for pre-existing warranties	963	2,076
Acquisitions	0	289
Balance of accrued warranty	$ 7,161	$ 5,975

Note 12 - Defined Contribution Plans (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Contribution Plan Company Matching Contributions Vesting Period (Year)	5 years
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 3,291	$ 2,572	$ 1,762

Note 13 - Debt (Details Textual) - USD ($) $ in Thousands	12 Months Ended
Note 13 - Debt (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Short-Term Debt, Total	$ 19,544	$ 9,926
Letters of Credit Outstanding, Amount	1,200	760
Lenders [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	400,000
Line of Credit Facility, Potential Increase Borrowing Capacity	$ 200,000
Debt Instrument, Basis Spread on Variable Rate	1.00%
Debt Instrument Reference Rate Term (Month)	1 month
Debt Instrument, Interest Rate During Period	5.12%
Line of Credit Facility, Current Borrowing Capacity	$ 187,162	376,776
Lenders [Member] \| Revolving Credit Facility [Member] \| Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Lenders [Member] \| Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 20,000
Lenders [Member] \| Swing Line Loans [Member]
Line of Credit Facility, Maximum Borrowing Capacity	10,000
Chassis Pool Agreements [Member]
Short-Term Debt, Total	$ 19,544	$ 9,926

Note 13 - Debt - Short-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Short-term debt	$ 19,544	$ 9,926
Chassis Pool Agreements [Member]
Short-term debt	$ 19,544	$ 9,926

Note 13 - Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Revolving credit facility	$ 56,000	$ 0
Other	0	540
Total debt	56,455	990
Less current portion of long-term debt	(189)	(252)
Total long-term debt	56,266	738
Long-Term Debt [Member]
Finance lease obligations	$ 455	$ 450

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

Three-year risk-free interest rate (1)

Note 14 - Stock Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	4,056,250
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)	1,204,205
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	750,000
Employee Stock Purchase Plan Discount	90.00%
Stock Issued During Period, Value, Employee Stock Purchase Plan	$ 434	$ 389	$ 198
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares)	20,000	11,000	12,000
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 0	$ 36.76	$ 13.07
Share-Based Payment Arrangement, Expense	$ 1,189	$ 2,542	$ 2,637
Share-Based Payment Arrangement, Expense, Tax Benefit	275	595	453
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	1,591	$ 1,929	$ 3,876
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 1,095
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		85,000	172,000
Restricted Stock [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 40.49	$ 48.08	$ 15.28
Share-Based Payment Arrangement, Expense	$ 3,176	$ 3,663	$ 2,809
Share-Based Payment Arrangement, Expense, Tax Benefit	197	$ 310	$ 369
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 4,523,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year 8 months 12 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	124,427	84,740	214,299
Performance Shares [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	49,769	30,770	74,319
Performance Shares [Member] \| Share-Based Payment Arrangement, Tranche Two [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 43.41	$ 57.11	$ 18.08
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	74,658	46,156	111,475
Performance Shares [Member] \| Minimum [Member]
Share-based Compensation Arrangement By Share-based Payment Award, Percentage Of Shares Earned	0.00%
Performance Shares [Member] \| Minimum [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement By Share-based Payment Award, Percentage Of Shares Earned	0.00%
Performance Shares [Member] \| Minimum [Member] \| Share-Based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement By Share-based Payment Award, Percentage Of Shares Earned	0.00%
Performance Shares [Member] \| Maximum [Member]
Share-based Compensation Arrangement By Share-based Payment Award, Percentage Of Shares Earned	200.00%
Performance Shares [Member] \| Maximum [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement By Share-based Payment Award, Percentage Of Shares Earned	200.00%
Performance Shares [Member] \| Maximum [Member] \| Share-Based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement By Share-based Payment Award, Percentage Of Shares Earned	200.00%
Exceptional Performance PSUs [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	0	7,814	28,505
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 29.58	$ 36.76	$ 13.45
Share-Based Payment Arrangement, Expense	$ 3,253	$ 2,540	$ 1,752
Share-Based Payment Arrangement, Expense, Tax Benefit	668	$ 499	$ 362
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 6,026
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year 7 months 6 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	241,217	110,599	194,445
Restricted Stock Units (RSUs) [Member] \| Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Restricted Stock Units (RSUs) [Member] \| Board Members [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	1 year

Note 14 - Stock Based Compensation - Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Balance, non-vested shares outstanding (in shares)	190	370	711
Balance, non-vested shares outstanding, weighted average grant date fair value (in dollars per share)	$ 21.81	$ 10.02	$ 8.58
Balance, non-vested shares outstanding, weighted average remaining vesting life (Year)	7 months 6 days	1 year	1 year	10 months 24 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		85	172
Granted (in dollars per share)	$ 0	$ 36.76	$ 13.07
Vested (in shares)	(91)	(230)	(460)
Vested (in dollars per share)	$ 17.62	$ 11.26	$ 8.42
Forfeited (in shares)	(28)	(35)	(53)
Forfeited (in dollars per share)	$ 21.98	$ 20.45	$ 11.85
Balance, non-vested shares outstanding (in shares)	71	190	370	711
Balance, non-vested shares outstanding, weighted average grant date fair value (in dollars per share)	$ 27.14	$ 21.81	$ 10.02	$ 8.58

Note 14 - Stock Based Compensation - Simulation Assumption (Details) - Performance Shares Units [Member]

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

^[1]

2.41%

0.29%

0.27%

Expected term (in years) (Year)

2 years 8 months 12 days

2 years 9 months 18 days

2 years 8 months 12 days

Estimated volatility (2)

^[2]

55.60%

61.90%

58.20%

[1]	Based on the U.S. government bond benchmark on the grant date.
[2]	Represents the historical price volatility of the Company's common stock for the three-year period preceding the grant date.

Note 14 - Stock Based Compensation - PSU and RSU Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Performance Shares [Member]
Balance, non-vested shares outstanding (in shares)	483,000	410,000	218,000
Balance, non-vested shares outstanding, weighted average grant date fair value (in dollars per share)	$ 19.33	$ 13.63	$ 11.82
Granted (in shares)	124,427	84,740	214,299
Granted, weighted average grant date fair value (in dollars per share)	$ 40.49	$ 48.08	$ 15.28
Forfeited (in shares)	(38,000)	(12,000)	(22,000)
Forfeited, weighted average grant date fair value (in dollars per share)	$ 28.27	$ 26.94	$ 11.82
Vested (in shares)	(194,000)
Vested, weighted average grant date fair value (in dollars per share)	$ 11.82
Balance, non-vested shares outstanding (in shares)	375,000	483,000	410,000
Balance, non-vested shares outstanding, weighted average grant date fair value (in dollars per share)	$ 29.31	$ 19.33	$ 13.63
Restricted Stock Units (RSUs) [Member]
Balance, non-vested shares outstanding (in shares)	201,000	212,000	182,000
Balance, non-vested shares outstanding, weighted average grant date fair value (in dollars per share)	$ 24.51	$ 12.43	$ 8.98
Granted (in shares)	241,217	110,599	194,445
Granted, weighted average grant date fair value (in dollars per share)	$ 29.58	$ 36.76	$ 13.45
Forfeited (in shares)	(30,000)	(3,000)	(6,000)
Forfeited, weighted average grant date fair value (in dollars per share)	$ 32.96	$ 37.09	$ 16.17
Vested (in shares)	(105,000)	(119,000)	(158,000)
Vested, weighted average grant date fair value (in dollars per share)	$ 22.15	$ 14.08	$ 9.56
Balance, non-vested shares outstanding (in shares)	307,000	201,000	212,000
Balance, non-vested shares outstanding, weighted average grant date fair value (in dollars per share)	$ 28.38	$ 24.51	$ 12.43

Note 15 - Shareholders Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		11 Months Ended	12 Months Ended
	Feb. 02, 2022	Jan. 31, 2022	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stock Repurchased and Retired During Period, Shares (in shares)				607,000
Stock Repurchased and Retired During Period, Value				$ 26,789	$ 3,348	$ 7,503
Common Stock, Dividends, Per Share, Declared (in dollars per share)				$ 0.20	$ 0.10	$ 0.10
Quarterly Dividend [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.025		$ 0.05
The 2022 Share Repurchase Program [Member]
Stock Repurchase Program, Authorized Amount	$ 250,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares)			242,102,000	242,102,000
The 2016 Share Repurchase Program [Member]
Stock Repurchased and Retired During Period, Shares (in shares)		408,994			100,000
Stock Repurchased and Retired During Period, Value		$ 18,884			$ 3,348
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares)					408,994

Note 15 - Shareholders Equity - Summary of Stock Repurchased and Retired (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shares purchased (in shares)	607
Purchase value	$ 26,789	$ 3,348	$ 7,503
The 2022 Share Repurchase Program [Member]
Remaining shares allowable to be purchased (in shares)	242,102

Note 16 - Earnings Per Share - Reconciliation of Basic Weighted Average Common Shares Outstanding to Diluted Weighted Average Shares Outstanding (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Basic weighted average common shares outstanding (in shares)	35,073	35,333	35,479
Plus dilutive effect of Restricted Stock Units and Performance Stock Units (in shares)	421	764	560
Diluted weighted average common shares outstanding (in shares)	35,494	36,097	36,039

Note 17 - Business Segments (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Number of Reportable Segments	2
Revenue from Contract with Customer, Excluding Assessed Tax	$ 1,027,164	$ 991,792	$ 675,973
Non-US [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 7,670	$ 11,657	$ 9,461
Percentage of Revenue from Contract with Customer, Excluding Assessed Tax	0.70%	1.20%	1.40%