Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Revenues
Adjustments to Reported Income

Generac Holdings Inc., adjusted current assets

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Current assets	1,848,464)	1,669,733)	1,195,829)	1,120,769)	818,556)
Adjustments
Add: Allowance for credit losses	12,025)	12,001)	6,968)	4,873)	4,805)
After Adjustment
Adjusted current assets	1,860,489)	1,681,734)	1,202,797)	1,125,642)	823,361)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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Generac Holdings Inc., adjusted total assets

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Total assets	4,877,780)	3,235,423)	2,665,669)	2,426,314)	2,019,964)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	41,220)	43,924)
Add: Allowance for credit losses	12,025)	12,001)	6,968)	4,873)	4,805)
Less: Deferred tax assets²	15,740)	1,497)	2,933)	163)	3,238)
After Adjustment
Adjusted total assets	4,874,065)	3,245,927)	2,669,704)	2,472,244)	2,065,455)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² Deferred tax assets. See details »

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Generac Holdings Inc., adjusted current liabilities

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Current liabilities	1,155,907)	641,524)	497,064)	560,706)	388,872)
Adjustments
Less: Deferred revenue related to extended warranties, current portion	20,556)	18,857)	15,519)	13,646)	10,002)
Less: Product warranty liability, current portion	59,052)	37,417)	27,885)	25,396)	20,576)
After Adjustment
Adjusted current liabilities	1,076,299)	585,250)	453,660)	521,664)	358,294)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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Generac Holdings Inc., adjusted total liabilities

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Total liabilities	2,605,643)	1,779,012)	1,571,591)	1,604,049)	1,416,204)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	41,220)	43,924)
Less: Deferred tax liabilities²	205,964)	115,769)	96,328)	71,300)	43,789)
Less: Deferred revenue related to extended warranties	111,647)	89,788)	78,738)	68,340)	50,941)
Less: Product warranty liability	94,213)	59,218)	49,316)	41,785)	35,422)
After Adjustment
Adjusted total liabilities	2,193,819)	1,514,237)	1,347,209)	1,463,844)	1,329,976)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liabilities. See details »

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Generac Holdings Inc., adjusted stockholders’ equity attributable to Generac Holdings Inc.

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Stockholders’ equity attributable to Generac Holdings Inc.	2,213,774)	1,390,293)	1,032,382)	760,549)	559,552)
Adjustments
Less: Net deferred tax assets (liabilities)¹	(190,223)	(114,272)	(93,395)	(71,137)	(40,551)
Add: Allowance for credit losses	12,025)	12,001)	6,968)	4,873)	4,805)
Add: Deferred revenue related to extended warranties	111,647)	89,788)	78,738)	68,340)	50,941)
Add: Product warranty liability	94,213)	59,218)	49,316)	41,785)	35,422)
Add: Redeemable noncontrolling interest	58,050)	66,207)	61,227)	61,004)	43,929)
Add: Noncontrolling interests	313)	(89)	469)	712)	279)
After Adjustment
Adjusted total stockholders’ equity	2,680,245)	1,731,690)	1,322,495)	1,008,400)	735,479)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Net deferred tax assets (liabilities). See details »

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Generac Holdings Inc., adjusted capitalization table

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Short-term borrowings	72,035)	39,282)	58,714)	45,583)	20,602)
Current portion of long-term borrowings and finance lease obligations	5,930)	4,147)	2,383)	1,977)	1,572)
Long-term borrowings and finance lease obligations, excluding current portion	902,091)	841,764)	837,767)	876,396)	906,548)
Total reported debt	980,056)	885,193)	898,864)	923,956)	928,722)
Stockholders’ equity attributable to Generac Holdings Inc.	2,213,774)	1,390,293)	1,032,382)	760,549)	559,552)
Total reported capital	3,193,830)	2,275,486)	1,931,246)	1,684,505)	1,488,274)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	41,220)	43,924)
Add: Operating lease liabilities, current (recorded in Other accrued liabilities)²	23,549)	17,192)	7,231)	—)	—)
Add: Operating lease liabilities, noncurrent (recorded in Operating lease and other long-term liabilities)³	80,370)	46,558)	29,778)	—)	—)
Adjusted total debt	1,083,975)	948,943)	935,873)	965,176)	972,646)
Adjustments to Equity
Less: Net deferred tax assets (liabilities)⁴	(190,223)	(114,272)	(93,395)	(71,137)	(40,551)
Add: Allowance for credit losses	12,025)	12,001)	6,968)	4,873)	4,805)
Add: Deferred revenue related to extended warranties	111,647)	89,788)	78,738)	68,340)	50,941)
Add: Product warranty liability	94,213)	59,218)	49,316)	41,785)	35,422)
Add: Redeemable noncontrolling interest	58,050)	66,207)	61,227)	61,004)	43,929)
Add: Noncontrolling interests	313)	(89)	469)	712)	279)
Adjusted total stockholders’ equity	2,680,245)	1,731,690)	1,322,495)	1,008,400)	735,479)
After Adjustment
Adjusted total capital	3,764,220)	2,680,633)	2,258,368)	1,973,576)	1,708,125)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Operating lease liabilities, current (recorded in Other accrued liabilities). See details »

³ Operating lease liabilities, noncurrent (recorded in Operating lease and other long-term liabilities). See details »

⁴ Net deferred tax assets (liabilities). See details »

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Generac Holdings Inc., adjusted net sales

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Net sales	3,737,184)	2,485,200)	2,204,336)	2,023,464)	1,672,445)
Adjustment
Add: Increase (decrease) in deferred revenue related to extended warranties	21,859)	11,050)	10,398)	10,486)	19,861)
After Adjustment
Adjusted net sales	3,759,043)	2,496,250)	2,214,734)	2,033,950)	1,692,306)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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Generac Holdings Inc., adjusted net income attributable to Generac Holdings Inc.

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Net income attributable to Generac Holdings Inc.	550,494)	350,576)	252,007)	238,257)	159,386)
Adjustments
Add: Deferred income tax expense (benefit)¹	(1,073)	20,498)	19,520)	24,614)	18,986)
Add: Increase (decrease) in allowance for credit losses	24)	5,033)	2,095)	68)	(837)
Add: Increase (decrease) in deferred revenue related to extended warranties	21,859)	11,050)	10,398)	10,486)	19,861)
Add: Increase (decrease) in product warranty liability	34,995)	9,902)	7,531)	6,363)	3,727)
Add: Other comprehensive income (loss)	(20,501)	(9,337)	(1,104)	(2,615)	18,965)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest	5,496)	(364)	(635)	1,647)	5,549)
After Adjustment
Adjusted net income	591,294)	387,358)	289,812)	278,820)	225,637)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Deferred income tax expense (benefit). See details »

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Generac Holdings Inc. (NYSE:GNRC)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Revenues

Adjustments to Reported Income