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  {
    "title": "Generac Holdings Inc. Condensed Consolidated Statements of Comprehensive Income",
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    "markdown": "| | Three Months Ended December 31, | | Year Ended December 31, | |\n| --- | --- | --- | --- | --- |\n| | 2022 | 2021 | 2022 | 2021 |\n| Net sales | $ 1,049,232 | $ 1,067,071 | $ 4,564,737 | $ 3,737,184 |\n| Costs of goods sold | 706,065 | 704,532 | 3,042,733 | 2,377,102 |\n| Gross profit | 343,167 | 362,539 | 1,522,004 | 1,360,082 |\n| Operating expenses: | | | | |\n| Selling and service | 107,570 | 89,577 | 496,260 | 319,020 |\n| Research and development | 38,446 | 29,406 | 159,774 | 104,303 |\n| General and administrative | 62,825 | 37,758 | 194,861 | 144,272 |\n| Acquisition related costs | 1,459 | 12,668 | 1,459 | 21,465 |\n| Amortization of intangibles | 25,639 | 17,649 | 103,320 | 49,886 |\n| Total operating expenses | 235,939 | 187,058 | 955,674 | 638,946 |\n| Income from operations | 107,228 | 175,481 | 566,330 | 721,136 |\n| Other (expense) income: | | | | |\n| Interest expense | (19,523) | (9,529) | (54,826) | (32,953) |\n| Investment income | 509 | 403 | 1,129 | 1,415 |\n| Loss on extinguishment of debt | | | (3,743) | (831) |\n| Other, net | (755) | 223 | (424) | 2,759 |\n| Total other expense, net | (19,769) | (8,903) | (57,864) | (29,610) |\n| Income before provision for income taxes | 87,459 | 166,578 | 508,466 | 691,526 |\n| Provision for income taxes | 13,568 | 20,616 | 99,596 | 134,957 |\n| Net income | 73,891 | 145,962 | 408,870 | 556,569 |\n| Net income attributable to noncontrolling interests | 2,876 | 3,067 | 9,368 | 6,075 |\n| Net income attributable to Generac Holdings Inc. | $ 71,015 | $ 142,895 | $ 399,502 | $ 550,494 |\n| Other comprehensive income (loss): | | | | |\n| Foreign currency translation adjustment | 56,424 | (4,559) | (48,841) | (41,030) |\n| Net unrealized gain (loss) on derivatives | (1,120) | 5,345 | 38,494 | 20,529 |\n| Other comprehensive income (loss) | 55,304 | 786 | (10,347) | (20,501) |\n| Total comprehensive income | 129,195 | 146,748 | 398,523 | 536,068 |\n| Comprehensive income attributable to noncontrolling interests | 6,764 | 2,964 | 11,179 | 5,496 |\n| Comprehensive income attributable to Generac Holdings Inc. | $ 122,431 | $ 143,784 | $ 387,344 | $ 530,572 |\n| Net income attributable to common shareholders per common share - basic: | $ 0.84 | $ 2.09 | $ 5.55 | $ 8.51 |\n| Weighted average common shares outstanding - basic: | 62,370,769 | 62,992,455 | 63,117,007 | 62,686,001 |\n| Net income attributable to common shareholders per common share - diluted: | $ 0.83 | $ 2.04 | $ 5.42 | $ 8.30 |\n| Weighted average common shares outstanding - diluted: | 63,583,384 | 64,487,071 | 64,681,357 | 64,253,408 |",
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    "title": "Generac Holdings Inc. Condensed Consolidated Balance Sheets",
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    "markdown": "| | December 31, 2022 | December 31, 2021 |\n| --- | --- | --- |\n| Assets |  |  |\n| Current assets: |  |  |\n| Cash and cash equivalents | $ 132,723 | $ 147,339 |\n| Accounts receivable, less allowance for credit losses of $27,664 and $12,025 at December 31, 2022 and 2021, respectively | 522,458 | 546,466 |\n| Inventories | 1,405,384 | 1,089,705 |\n| Prepaid expenses and other assets | 121,783 | 64,954 |\n| Total current assets | 2,182,348 | 1,848,464 |\n| Property and equipment, net | 467,604 | 440,852 |\n| Customer lists, net | 206,987 | 238,722 |\n| Patents and technology, net | 454,757 | 492,473 |\n| Other intangible assets, net | 41,719 | 66,436 |\n| Tradenames, net | 227,251 | 243,531 |\n| Goodwill | 1,400,880 | 1,409,674 |\n| Deferred income taxes | 12,746 | 15,740 |\n| Operating lease and other assets | 175,170 | 121,888 |\n| Total assets | $ 5,169,462 | $ 4,877,780 |\n| Liabilities and stockholders equity |  |  |\n| Current liabilities: |  |  |\n| Short-term borrowings | $ 48,990 | $ 72,035 |\n| Accounts payable | 446,050 | 674,208 |\n| Accrued wages and employee benefits | 45,741 | 72,060 |\n| Accrued product warranty | 89,141 | 59,052 |\n| Other accrued liabilities | 349,389 | 272,622 |\n| Current portion of long-term borrowings and finance lease obligations | 12,733 | 5,930 |\n| Total current liabilities | 992,044 | 1,155,907 |\n| Long-term borrowings and finance lease obligations | 1,369,085 | 902,091 |\n| Deferred income taxes | 125,691 | 205,964 |\n| Operating lease and other long-term liabilities | 312,916 | 341,681 |\n| Total liabilities | 2,799,736 | 2,605,643 |\n| Redeemable noncontrolling interest | 110,471 | 58,050 |\n| Stockholders equity: |  |  |\n| Common stock, par value $0.01, 500,000,000 shares authorized, 72,701,275 and 72,386,017 shares issued at December 31, 2022 and December 31, 2021, respectively | 728 | 725 |\n| Additional paid-in capital | 1,016,138 | 952,939 |\n| Treasury stock, at cost, 11,284,350 and 8,667,031 shares at December 31, 2022 and 2021, respectively | (808,491) | (448,976) |\n| Excess purchase price over predecessor basis | (202,116) | (202,116) |\n| Retained earnings | 2,316,224 | 1,965,957 |\n| Accumulated other comprehensive loss | (65,102) | (54,755) |\n| Stockholders equity attributable to Generac Holdings Inc. | 2,257,381 | 2,213,774 |\n| Noncontrolling interests | 1,874 | 313 |\n| Total stockholders equity | 2,259,255 | 2,214,087 |\n| Total liabilities and stockholders equity | $ 5,169,462 | $ 4,877,780 |",
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    "title": "Generac Holdings Inc. Condensed Consolidated Statements of Cash Flows",
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    "markdown": "| | Year Ended December 31, 2022 | Year Ended December 31, 2021 |\n| --- | --- | --- |\n| Operating activities |  |  |\n| Net income | $ 408,870 | $ 556,569 |\n| Adjustment to reconcile net income to net cash (used in) provided by operating activities: |  |  |\n| Depreciation | 52,821 | 42,155 |\n| Amortization of intangible assets | 103,320 | 49,886 |\n| Amortization of original issue discount and deferred financing costs | 3,234 | 2,589 |\n| Loss on extinguishment of debt | 3,743 | 831 |\n| Deferred income taxes | (95,465) | (2,096) |\n| Share-based compensation expense | 29,481 | 23,954 |\n| Gain on disposal of assets | (592) | (4,393) |\n| Other noncash charges | 18,339 | 206 |\n| Net changes in operating assets and liabilities, net of acquisitions: |  |  |\n| Accounts receivable | 6,547 | (131,861) |\n| Inventories | (319,274) | (470,991) |\n| Other assets | 4,766 | (819) |\n| Accounts payable | (223,031) | 297,323 |\n| Accrued wages and employee benefits | (27,369) | 5,814 |\n| Other accrued liabilities | 110,036 | 73,798 |\n| Excess tax benefits from equity awards | (16,910) | (31,809) |\n| Net cash provided by operating activities | 58,516 | 411,156 |\n| Investing activities |  |  |\n| Proceeds from sale of property and equipment | 2,077 | 259 |\n| Proceeds from sale of investment | 1,308 | 4,968 |\n| Proceeds from beneficial interests in securitization transactions | 3,566 | 4,609 |\n| Contribution to equity method investment | (14,930) | (3,660) |\n| Expenditures for property and equipment | (86,188) | (109,992) |\n| Purchase of long-term investment | (15,000) |  |\n| Acquisition of business, net of cash acquired | (25,065) | (713,471) |\n| Net cash used in investing activities | (134,232) | (817,287) |\n| Financing activities |  |  |\n| Proceeds from short-term borrowings | 248,209 | 272,818 |\n| Proceeds from long-term borrowings | 1,026,284 | 150,088 |\n| Repayments of short-term borrowings | (268,133) | (239,113) |\n| Repayments of long-term borrowings and finance lease obligations | (542,191) | (108,556) |\n| Stock repurchases | (345,840) | (125,992) |\n| Payment of contingent acquisition consideration | (16,135) | (3,750) |\n| Payment of debt issuance costs | (10,330) | (1,185) |\n| Purchase of additional ownership interest | (375) | (27,164) |\n| Cash dividends paid to noncontrolling interest of subsidiary | (309) |  |\n| Taxes paid related to equity awards | (40,923) | (58,903) |\n| Proceeds from the exercise of stock options | 13,786 | 38,787 |\n| Net cash provided by (used in) financing activities | 64,043 | (102,970) |\n| Effect of exchange rate changes on cash and cash equivalents | (2,943) | 1,312 |\n| Net increase (decrease) in cash and cash equivalents | (14,616) | (507,789) |\n| Cash and cash equivalents at beginning of period | 147,339 | 655,128 |\n| Cash and cash equivalents at end of period | $ 132,723 | $ 147,339 |\n| Supplemental disclosure of cash flow information |  |  |\n| Cash paid during the period |  |  |\n| Interest | $ 48,912 | $ 27,842 |\n| Income taxes | 150,893 | 156,728 |",
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    "markdown": "| | Three Months Ended December 31, 2022 | | | Three Months Ended December 31, 2021 | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| | External Net Sales | Intersegment Sales | Total Sales | External Net Sales | Intersegment Sales | Total Sales |\n| Domestic | $ 864,629 | $ 15,989 | $ 880,618 | $ 896,402 | $ 12,390 | $ 908,792 |\n| International | 184,603 | 34,624 | 219,227 | 170,669 | 9,745 | 180,414 |\n| Intercompany elimination | - | (50,613) | (50,613) | - | (22,135) | (22,135) |\n| Total net sales | $ 1,049,232 | $ - | $ 1,049,232 | $ 1,067,071 | $ - | $ 1,067,071 |",
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    "title": "External Net Sales by Product Class",
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    "markdown": "| | Three Months Ended December 31, | | Year Ended December 31, | |\n| --- | --- | --- | --- | --- |\n| | 2022 | 2021 | 2022 | 2021 |\n| Residential products | $ 574,799 | $ 705,808 | $ 2,911,871 | $ 2,456,765 |\n| Commercial & industrial products | 361,473 | 284,004 | 1,260,737 | 998,998 |\n| Other | 112,960 | 77,259 | 392,129 | 281,421 |\n| Total net sales | $ 1,049,232 | $ 1,067,071 | $ 4,564,737 | $ 3,737,184 |",
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    "title": "Adjusted EBITDA",
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    "markdown": "| | Three Months Ended December 31, 2022 | Three Months Ended December 31, 2021 | Year Ended December 31, 2022 | Year Ended December 31, 2021 |\n| --- | --- | --- | --- | --- |\n| Domestic | $ 144,143 | $ 196,691 | $ 716,302 | $ 795,417 |\n| International | 29,533 | 23,664 | 109,065 | 66,008 |\n| Total adjusted EBITDA (1) | $ 173,676 | $ 220,355 | $ 825,367 | $ 861,425 |",
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    "title": "Generac Holdings Inc. Reconciliation Schedules",
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    "markdown": "| Net income to Adjusted EBITDA reconciliation | Three Months Ended December 31, 2022 | Three Months Ended December 31, 2021 | Year Ended December 31, 2022 | Year Ended December 31, 2021 |\n| --- | --- | --- | --- | --- |\n| Net income attributable to Generac Holdings Inc. | $ 71,015 | $ 142,895 | $ 399,502 | $ 550,494 |\n| Net income attributable to noncontrolling interests | 2,876 | 3,067 | 9,368 | 6,075 |\n| Net income | 73,891 | 145,962 | 408,870 | 556,569 |\n| Interest expense | 19,523 | 9,529 | 54,826 | 32,953 |\n| Depreciation and amortization | 39,417 | 29,359 | 156,141 | 92,041 |\n| Provision for income taxes | 13,568 | 20,616 | 99,596 | 134,957 |\n| Non-cash write-down and other adjustments (1) | 7,934 | (3,708) | (2,091) | (3,070) |\n| Non-cash share-based compensation expense (2) | 6,058 | 5,750 | 29,481 | 23,954 |\n| Loss on extinguishment of debt (3) | - | - | 3,743 | 831 |\n| Transaction costs and credit facility fees (4) | 1,195 | 12,886 | 5,026 | 22,357 |\n| Business optimization and other charges (5) | 1,000 | (126) | 4,371 | 33 |\n| Provision for regulatory and clean energy product charges (6) | 10,000 | - | 65,265 | - |\n| Other | 1,090 | 87 | 139 | 800 |\n| Adjusted EBITDA | 173,676 | 220,355 | 825,367 | 861,425 |\n| Adjusted EBITDA attributable to noncontrolling interests | 4,288 | 2,897 | 15,087 | 9,351 |\n| Adjusted EBITDA attributable to Generac Holdings Inc. | $ 169,388 | $ 217,458 | $ 810,280 | $ 852,074 |",
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