WABASH国立 2025年季度报告

complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ PART II – OTHER INFORMATION (Unaudited)1.DESCRIPTION OF THE BUSINESS & BASIS OF PRESENTATIONWabash National Corporation (the “Company,” “Wabash,” “we,” “our,” or “us”) was founded in 1985 and incorporated as acorporation in Delaware in 1991, with its principal executive offices in Lafayette, Indiana. The Company was founded as a dry vantrailer manufacturer—today, the Company enables customers to thrive by providing insight into tomorrow and delivering pragmatic The condensed consolidated financial statements of the Company have been prepared without audit, pursuant to the rules and consolidated financial position of the Company, its results of operations, and its cash flows. The Company consolidates into itsfinancial statements the accounts of the Company and any partially owned subsidiary it has the ability to control (see Note 6). The Company does not have any subsidiaries it consolidates based solely on the power to direct the activities and significant participationin the entity’s expected results that would not otherwise be consolidated based on control through voting interests. Further, its affiliatesare businesses established and maintained in connection with its operating strategy and are not special purposes entities. Allintercompany transactions and balances have been eliminated.The condensed consolidated financial statements included herein should be read in conjunction with the consolidated financialstatements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December31, 2024. usefulness and effectiveness of income tax disclosures. The amendments in this ASU require a public entity to disclose a tabular taxrate reconciliation, using both percentages and currency, with specific categories. A public entity is also required to provide aqualitative description of the states and local jurisdictions that make up the majority of the effect of the state and local income taxcategory and the net amount of income taxes paid, disaggregated by federal, state and foreign taxes and also disaggregated byindividual jurisdictions. The amendments also remove certain disclosures that are no longer considered cost beneficial. The evaluating the impact of adopting this guidance on the consolidated financial statements.In November 2024, the FASB issued ASU No. 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses”, which requires additional disclosureof the nature of expenses included in the consolidated financial statements. The effective date of this ASU is for annual periodsbeginning after December 15, 2026. The Company is evaluating the effect this guidance will have on the consolidated financial customer and excludes all taxes collected from the customer. Shipping and handling fees are included inNet sales,and the associated costs are included inCost of salesin the Condensed Consolidated Statements of Operations. For shipping and handling costs thatoccur after the transfer of control, the Company applies the practical expedient and treats such costs as a fulfillment cost. Incidentalitems that are immaterial in the context of the contract are recognized as expense. revenue is recognized from the sale upon shipment to, or pick up by, the customer in accordance with the contract terms. TheCompany does not have any material extended payment terms as payment is received shortly after the point of sale. Accountsreceivable are recorded when the right to consideration becomes unconditional. The Company does have customers who pay for the the product. 4.BUSINESS COMBINATIONSTrailerhawk.AI, LLCThe Company accounts for acquisitions in accordance with guidance found in ASC 805,Business Combinations (“ASC 805”). Theguidance requires consideration given, including contingent consideration, assets acquired, and liabilities assumed to be valued at theirfair values at the acquisition date. The guidance further provides that: (1) acquisition costs will generally be expensed as incurred, (2) and liabilities assumed, be recognized as goodwill.On February 3, 2025, the Company acquired substantially all of the assets and certain of the liabilities of TrailerHawk.ai, LLC, aDelaware limited liability company (“Trailerhawk”), from Loadsmith Holding Corporation for an initial purchase price of $2.5millionless an allowance of $0.8million for 2025 development activities, plus the release of $3.0million and accrued interest of $0.1millionon convertible promissory notes, and contingent consideration related to the earnout liability as described below. Trailerhawk is aninnovation leader leveraging artificial intelligence and telematics to create