1.\u00a0\u00a0COMPANY BACKGROUND AND BASIS OF PRESENTATION:
\nWe are the largest recreational boat and yacht retailer in the United\u00a0States.\u00a0\u00a0We engage primarily in the retail sale, brokerage, and service of new and used boats, motors, trailers, marine parts and accessories and offer slip and storage accommodations in certain locations.\u00a0\u00a0In addition, we arrange related boat financing, insurance, and extended service contracts.\u00a0\u00a0We also offer the charter of power yachts in the British Virgin Islands.\u00a0\u00a0As of September 30, 2020, we operated through 57 retail locations in 16 states, consisting of Alabama, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina, and Texas.\u00a0\u00a0Our MarineMax Vacations operations maintain a facility in Tortola, British Virgin Islands. We also own Fraser Yachts Group and Northrop & Johnson, leading superyacht brokerage and luxury yacht services companies with operations in multiple countries.
\nWe are the nation\u2019s largest retailer of Sea Ray and Boston Whaler recreational boats and yachts which are manufactured by Brunswick Corporation (\u201cBrunswick\u201d).\u00a0\u00a0Sales of new Brunswick boats accounted for approximately 33% of our revenue in fiscal 2020.\u00a0\u00a0Sales of new Sea Ray and Boston Whaler boats, both divisions of Brunswick, accounted for approximately 15% and 16%, respectively, of our revenue in fiscal 2020. Brunswick is a world leading manufacturer of marine products and marine engines.\u00a0\u00a0
\nWe have dealership agreements with Sea Ray, Boston Whaler, Harris, and Mercury Marine, all subsidiaries or divisions of Brunswick.\u00a0\u00a0We also have dealer agreements with Italy-based Azimut-Benetti Group\u2019s product line for Azimut and Benetti yachts and mega yachts.\u00a0\u00a0These agreements allow us to purchase, stock, sell, and service these manufacturers\u2019 boats and products.\u00a0\u00a0These agreements also allow us to use these manufacturers\u2019 names, trade symbols, and intellectual properties in our operations. The agreements for Sea Ray and Boston Whaler products appoint us as the exclusive dealer of Sea Ray or Boston Whaler boats in our geographic markets. In addition, we are the exclusive dealer for Azimut Yachts for the entire United States. Sales of new Azimut boats and yachts accounted for approximately 9% of our revenue in fiscal 2020.\u00a0\u00a0We believe non-Brunswick brands offer a migration for our existing customer base or fill a void in our product offerings, and accordingly, do not compete with the business generated from our other prominent brands.
\nBeginning in March 2020, we had temporarily closed certain departments or locations based on guidance from local government or health officials as a result of the COVID-19 global pandemic. We are following guidelines to ensure we are safely operating as recommended. As the COVID-19 pandemic is complex and evolving rapidly with many unknowns, the Company will continue to monitor ongoing developments and respond accordingly. Management expects its business, across all of its geographies, will be impacted to some degree, but the significance of the impact of the COVID-19 pandemic on the Company\u2019s business and the duration for which it may have an impact cannot be determined at this time.
\nAs is typical in the industry, we deal with most of our manufacturers, other than Sea Ray, Boston Whaler, and Azimut Yachts, under renewable annual dealer agreements, each of which gives us the right to sell various makes and models of boats within a given geographic region.\u00a0\u00a0Any change or termination of these agreements, or the agreements discussed above, for any reason, or changes in competitive, regulatory or marketing practices, including rebate or incentive programs, could adversely affect our results of operations.\u00a0\u00a0Although there are a limited number of manufacturers of the type of boats and products that we sell, we believe that adequate alternative sources would be available to replace any manufacturer other than Sea Ray and Azimut as a product source.\u00a0\u00a0These alternative sources may not be available at the time of any interruption, and alternative products may not be available at comparable terms, which could affect operating results adversely.
\nGeneral economic conditions and consumer spending patterns can negatively impact our operating results.\u00a0\u00a0Unfavorable local, regional, national, or global economic developments or uncertainties regarding future economic prospects could reduce consumer spending in the markets we serve and adversely affect our business.\u00a0\u00a0Economic conditions in areas in which we operate dealerships, particularly Florida in which we generated approximately 51%, 54% and 54% of our revenue during fiscal 2018, 2019, and 2020, respectively, can have a major impact on our operations.\u00a0\u00a0Local influences, such as corporate downsizing, military base closings, inclement weather such as Hurricane Sandy in 2012 or Hurricanes Harvey and Irma in 2017, environmental conditions, and specific events, such as the BP oil spill in the Gulf of Mexico in 2010, also could adversely affect, and in certain instances have adversely affected, our operations in certain markets.
\nIn an economic downturn, consumer discretionary spending levels generally decline, at times resulting in disproportionately large reductions in the sale of luxury goods. Consumer spending on luxury goods also may decline as a result of lower consumer confidence levels, even if prevailing economic conditions are favorable. As a result, an economic downturn would likely impact us more than certain of our competitors due to our strategic focus on a higher end of our market. Although we have expanded our operations during periods of stagnant or modestly declining industry trends, the cyclical nature of the recreational boating industry or
\nthe lack of industry growth may adversely affect our business, financial condition, and results of operations. Any period of adverse economic conditions or low consumer confidence is likely to have a negative effect on our business.
\nHistorically, in periods of lower consumer spending and depressed economic conditions, we have, among other things, substantially reduced our acquisition program, delayed new store openings, reduced our inventory purchases, engaged in inventory reduction efforts, closed a number of our retail locations, reduced our headcount, and amended and replaced our credit facility.\u00a0\u00a0Acquisitions remain an important strategy for us, and, subject to a number of conditions, including macro-economic conditions and finding attractive acquisition targets, we plan to explore opportunities through this strategy.
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\nCash and Cash Equivalents
\nWe consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. Fraser Yachts Group customer charter management cash accounts are excluded from cash and cash equivalents. These accounts belong to our customers and we provide management assistance at the request of the customer and for the benefit of the customer.
\nVendor Consideration Received
\nWe account for consideration received from our vendors in accordance with ASU 2014-09, \u201cRevenue from Contracts with Customers (Topic 606)\u201d. ASC 606 requires us to classify interest assistance received from manufacturers as a reduction of inventory cost and related cost of sales as opposed to netting the assistance against our interest expense incurred with our lenders.\u00a0\u00a0Pursuant to ASC 606, amounts received by us under our co-op assistance programs from our manufacturers are netted against related advertising expenses.\u00a0\u00a0Our consideration received from our vendors contains uncertainties because the calculation requires management to make assumptions and to apply judgment regarding a number of factors, including our ability to collect amounts due from vendors and the ability to meet certain criteria stipulated by our vendors.\u00a0\u00a0We do not believe there is a reasonable likelihood that there will be a change in the future estimates or assumptions we use to calculate our vendor considerations which would result in a material effect on our operating results.
\nInventories
\nInventory costs consist of the amount paid to acquire inventory, net of vendor consideration and purchase discounts, the cost of equipment added, reconditioning costs, and transportation costs relating to acquiring inventory for sale. We state new and used boat, motor, and trailer inventories at the lower of cost, determined on a specific-identification basis, or net realizable value. We state parts and accessories at the lower of cost, determined on an average cost basis, or net realizable value. We utilize our historical experience, the aging of the inventories, and our consideration of current market trends as the basis for determining lower of cost or net realizable value. We do not believe there is a reasonable likelihood that there will be a change in the future estimates or assumptions we use to calculate our valuation allowance which would result in a material effect on our operating results. As of September 30, 2019 and 2020, our valuation allowance for new and used boat, motor and trailer inventories was $2.2 million and $2.4 million, respectively.\u00a0\u00a0If events occur and market conditions change, causing the fair value to fall below carrying value, the valuation allowance could increase.
\nProperty and Equipment
\nWe record property and equipment at cost, net of accumulated depreciation, and depreciate property and equipment over their estimated useful lives using the straight-line method.\u00a0\u00a0We capitalize and amortize leasehold improvements over the lesser of the life of the lease or the estimated useful life of the asset.\u00a0\u00a0Useful lives for purposes of computing depreciation are as follows:
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n Years | \n
| \n Buildings and improvements | \n\n \u00a0 | \n\n 5-40 | \n
| \n Machinery and equipment | \n\n \u00a0 | \n\n 3-10 | \n
| \n Furniture and fixtures | \n\n \u00a0 | \n\n 5-10 | \n
| \n Vehicles | \n\n \u00a0 | \n\n 3-5 | \n
\u00a0
\nWe remove the cost of property and equipment sold or retired and the related accumulated depreciation from the accounts at the time of disposition and include any resulting gain or loss in the consolidated statements of operations.\u00a0\u00a0We charge maintenance, repairs, and minor replacements to operations as incurred, and we capitalize and amortize major replacements and improvements over their useful lives.
\nGoodwill
\nWe account for goodwill in accordance with FASB Accounting Standards Codification 350, \u201cIntangibles \u2014 Goodwill and Other\u201d (\u201cASC 350\u201d), which requires the excess purchase price over the estimated fair value of net assets acquired in a business combination to be recorded as goodwill. In July 2020, we purchased Northrop & Johnson, a leading superyacht brokerage and services company. In March 2020, we purchased Boatyard, a digital platform with an expansive range of on-demand services to streamline the boating experience by qualified service providers from a smartphone. In July 2019, we purchased Fraser Yachts Group, a leading superyacht brokerage and largest luxury yacht services company. In April 2019, we purchased Sail & Ski Center, a privately owned boat dealer located in Texas. Goodwill and other intangible assets increased, due to acquisitions, by $37.0 million and $20.2 million, for the fiscal years ended September 30, 2019 and 2020, respectively. These acquisitions have resulted in the recording of goodwill for tax purposes of $10.5 million and $16.8 million, for the fiscal years ended September 30, 2019 and 2020, respectively. In total, current and previous acquisitions have resulted in the recording of $84.3 million in goodwill and other intangible assets as of September 30, 2020. In accordance with ASC 350, we test goodwill for impairment at least annually and whenever events or changes in circumstances indicate that the carrying value may not be recoverable.\u00a0\u00a0Our annual impairment test is performed during the fourth fiscal quarter.\u00a0\u00a0If the carrying amount of a reporting unit\u2019s goodwill exceeds its fair value we recognize an impairment loss in accordance with ASC 350. As of September 30, 2020, and based upon our most recent analysis, we determined through our qualitative assessment that it is not \u201cmore likely than not\u201d that the fair values of our reporting units are less than their carrying values.\u00a0\u00a0As a result, we were not required to perform a quantitative goodwill impairment.
\nImpairment of Long-Lived Assets
\nFASB Accounting Standards Codification 360-10-40, \u201cProperty, Plant, and Equipment \u2014 Impairment or Disposal of Long-Lived Assets\u201d (\u201cASC 360-10-40\u201d), requires that long-lived assets, such as property and equipment and intangible assets subject to amortization, be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.\u00a0\u00a0Recoverability of the asset is measured by comparison of its carrying amount to undiscounted future cash flows the asset is expected to generate.\u00a0\u00a0If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the asset exceeds its fair market value.\u00a0\u00a0Estimates of expected future cash flows represent our best estimate based on currently available information and reasonable and supportable assumptions. The analysis is performed at a regional level for indicators of permanent impairment given the geographical interdependencies among our locations.\u00a0\u00a0Based upon our most recent analysis, we believe no impairment of long-lived assets existed as of September 30, 2020.
\nInsurance
\nWe retain varying levels of risk relating to the insurance policies we maintain, most significantly, workers\u2019 compensation insurance and employee medical benefits.\u00a0\u00a0We are responsible for the claims and losses incurred under these programs, limited by per occurrence deductibles and paid claims or losses up to pre-determined maximum exposure limits.\u00a0\u00a0Our third-party insurance carriers pay any losses above the pre-determined exposure limits.\u00a0\u00a0We estimate our liability for incurred but not reported losses using our historical loss experience, our judgment, and industry information.
\nRevenue Recognition
\nThe majority of our revenue is from contracts with customers for the sale of boats, motors, and trailers. We recognize revenue from boat, motor, and trailer sales upon transfer of control of the boat, motor, or trailer to the customer, which is generally upon acceptance or delivery to the customer. The transaction price is determined with the customer at time of sale. Customers may trade in boats to apply toward the purchase of a new or used boat. The trade-in is a type of noncash consideration measured at fair value, based on external and internal market data and applied as payment to the contract price for the purchased boat. At the time of acceptance or delivery, the customer is able to direct the use of, and obtain substantially all of the benefits of the boat, motor, or trailer at such time. We recognize commissions earned from a brokerage sale when the related brokerage transaction closes upon transfer of control of the boat, motor, or trailer to the customer, which is generally upon acceptance or delivery to the customer.
\nWe do not directly finance our customers\u2019 boat, motor, or trailer purchases. In many cases, we assist with third-party financing for boat, motor, and trailer sales. We recognize commissions earned by us for placing notes with financial institutions in connection with customer boat financing when we recognize the related boat sales. Pursuant to negotiated agreements with financial institutions, we are charged back for a portion of these fees should the customer terminate or default on the related finance contract before it is outstanding for a stipulated minimum period of time.\u00a0\u00a0We base the chargeback allowance, which was not material to the consolidated financial statements taken as a whole as of September 30, 2020, on our experience with repayments or defaults on the related finance contracts. We recognize variable consideration from commissions earned on extended warranty service contracts sold on behalf of third-party insurance companies at generally the later of customer acceptance of the service contract terms as evidenced by contract execution or recognition of the related boat sale. We also recognize variable consideration from marketing fees earned on insurance products sold by third-party insurance companies at the later of customer acceptance of the insurance product as evidenced by contract execution or when the related boat sale is recognized.
\nWe recognize revenue from parts and service operations (boat maintenance and repairs) over time as services are performed. Each boat maintenance and repair service is a single performance obligation that includes both the parts and labor associated with the service. Payment for boat maintenance and repairs is typically due upon the completion of the service, which is generally completed within a short period of time from contract inception. We satisfy our performance obligations, transfer control, and recognize revenue over time for parts and service operations because we are creating a contract asset with no alternative use and we have an enforceable right to payment for performance completed to date. Contract assets primarily relate to our right to consideration for work in process not yet billed at the reporting date associated with maintenance and repair services. We use an input method to recognize revenue and measure progress based on labor hours expended to satisfy the performance obligation at average labor rates. We have determined labor hours expended to be the relevant measure of work performed to complete the maintenance and repair service for the customer. As a practical expedient, because repair and maintenance service contracts have an original duration of one year or less, we do not consider the time value of money, and we do not disclose estimated revenue expected to be recognized in the future for performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period or when we expect to recognize such revenue.
\nContract liabilities primarily consist of customer deposits. We recognize contract liabilities (customer deposits) as revenue at the time of delivery or acceptance by the customers.\u00a0\u00a0Total contract liabilities of approximately $24.3 million recorded as of September 30, 2019 were recognized in revenue during the fiscal year ended September 30, 2020. Contract assets, recorded in prepaid expenses and other current assets, totaled approximately $2.5 million and $2.6 million as of September 30, 2019 and September 30, 2020, respectively.
\nWe recognize deferred revenue from service operations and slip and storage services over time on a straight-line basis over the term of the contract as our performance obligations are met. We recognize income from the rentals of chartering power and sailing yachts over time on a straight-line basis over the term of the contract as our performance obligations are met.
\nThe following table sets forth percentages on the timing of revenue recognition for the fiscal years ended September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n Fiscal Year Ended | \n\n \u00a0 | \n\n \u00a0 | \n\n Fiscal Year Ended | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n September 30, | \n\n \u00a0 | \n\n \u00a0 | \n\n September 30, | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n||
| \n Goods and services transferred at a point in time | \n\n \u00a0 | \n\n \u00a0 | \n\n 90.8 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 92.7 | \n\n % | \n
| \n Goods and services transferred over time | \n\n \u00a0 | \n\n \u00a0 | \n\n 9.2 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 7.3 | \n\n % | \n
| \n \u00a0\u00a0\u00a0\u00a0 Total Revenue | \n\n \u00a0 | \n\n \u00a0 | \n\n 100.0 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 100.0 | \n\n % | \n
\u00a0
\n\u00a0
\nThe following table sets forth percentages of our revenue generated by certain products and services, for each of last three fiscal years.
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2018 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n|||
| \n New boat sales | \n\n \u00a0 | \n\n \u00a0 | \n\n 71.2 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 70.1 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 70.2 | \n\n % | \n
| \n Used boat sales | \n\n \u00a0 | \n\n \u00a0 | \n\n 14.8 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 14.9 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 15.1 | \n\n % | \n
| \n Maintenance, repair, storage, and charter services | \n\n \u00a0 | \n\n \u00a0 | \n\n 6.2 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 6.9 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 6.4 | \n\n % | \n
| \n Finance and insurance products | \n\n \u00a0 | \n\n \u00a0 | \n\n 2.4 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 2.6 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 2.7 | \n\n % | \n
| \n Parts and accessories | \n\n \u00a0 | \n\n \u00a0 | \n\n 3.6 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 3.6 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 3.0 | \n\n % | \n
| \n Brokerage sales | \n\n \u00a0 | \n\n \u00a0 | \n\n 1.8 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 1.9 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 2.6 | \n\n % | \n
| \n Total revenue | \n\n \u00a0 | \n\n \u00a0 | \n\n 100.0 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 100.0 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 100.0 | \n\n % | \n
\u00a0
\nStock-Based Compensation
\nWe account for our stock-based compensation plans following the provisions of FASB Accounting Standards Codification 718, \u201cCompensation\u00a0\u2014 Stock Compensation\u201d (\u201cASC 718\u201d).\u00a0\u00a0In accordance with ASC 718, we use the Black-Scholes valuation model for valuing all stock-based compensation and shares purchased under our Employee Stock Purchase Plan.\u00a0\u00a0We measure compensation for restricted stock awards and restricted stock units at fair value on the grant date based on the number of shares expected to vest and the quoted market price of our common stock.\u00a0\u00a0We recognize compensation cost for all awards in operations, net of estimated forfeitures, on a straight-line basis over the requisite service period for each separately vesting portion of the award.
\nLeases
\n\u00a0
\nWe lease numerous facilities relating to our operations. See Note 7 of the Notes to Consolidated Financial Statements for a discussion of our significant accounting policies related to leases.
\nForeign Currency Transactions
\nFor the Company\u2019s foreign subsidiaries that use a currency other than the U.S. dollar as their functional currency, the assets and liabilities are translated at exchange rates in effect at the balance sheet date, and revenues and expenses are translated at the weighted average exchange rate for the period. The effects of these translation adjustments are reported in accumulated other comprehensive income. Gains and losses arising from transactions denominated in a currency other than the functional currency of the entity involved are included in operating income. As of September 30, 2020, our accumulated other comprehensive income, net of tax, was $0.8 million. As of September 30, 2019, our accumulated other comprehensive loss, net of tax, was $0.7 million. The change in accumulated other comprehensive income was the result of foreign currency translation adjustments net of taxes. No amounts were reclassified out of accumulated other comprehensive income in fiscal 2020.\u00a0\u00a0
\nAdvertising and Promotional Cost
\nWe expense advertising and promotional costs as incurred and include them in selling, general and administrative expenses in the accompanying consolidated statements of operations.\u00a0\u00a0Pursuant to ASC 606, we net amounts received by us under our co-op assistance programs from our manufacturers against the related advertising expenses.\u00a0\u00a0Total advertising and promotional expenses approximated $16.5 million, $18.8 million and $14.0\u00a0million, net of related co-op assistance of approximately $653,000, $807,000, and $589,000, for the fiscal years ended September\u00a030, 2018, 2019, and 2020, respectively.
\nIncome Taxes
\nWe account for income taxes in accordance with FASB Accounting Standards Codification 740, \u201cIncome Taxes\u201d (\u201cASC 740\u201d).\u00a0\u00a0Under ASC 740, we recognize deferred tax assets and liabilities for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis.\u00a0\u00a0We measure deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which we expect those temporary differences to be recovered or settled.\u00a0\u00a0We record valuation allowances to reduce our deferred tax assets to the amount expected to be realized by considering all available positive and negative evidence.
\nConcentrations of Credit Risk
\nFinancial instruments, which potentially subject us to concentrations of credit risk, consist principally of cash and cash equivalents and accounts receivable.\u00a0\u00a0Concentrations of credit risk with respect to our cash and cash equivalents are limited primarily to amounts held with financial institutions.\u00a0\u00a0Concentrations of credit risk arising from our receivables are limited primarily to amounts due from manufacturers and financial institutions.
\nFair Value of Financial Instruments
\nOur financial instruments include cash and cash equivalents, accounts receivable, accounts payable, other payables and accrued expenses and debt. The carrying values of cash and cash equivalents, accounts receivable, accounts payable, other payables and accrued expenses approximate their fair values due to their short-term nature. The carrying value of debt approximates its fair value due to the debt agreements bearing interest at rates that approximate current market rates for debt agreements with similar maturities and credit quality.
\nUse of Estimates and Assumptions
\nThe preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates made by us in the accompanying consolidated financial statements relate to valuation allowances, valuation of goodwill and intangible assets, valuation of long-lived assets, valuation of contingent consideration, and valuation of accruals.\u00a0\u00a0Actual results could differ materially from those estimates.
\nSegment Reporting
\nWe operate as one reporting segment in accordance with the FASB Accounting Standards Codification 280, \u201cSegment Reporting\u201d.\u00a0\u00a0The metrics used by our Chief Executive Officer (as the Company\u2019s chief operating decision maker or the \u201cCODM\u201d) to assess the performance of the Company are focused on viewing the business as a single integrated business.
"}]},{"name":"rpt:f-368","factDimensions":{"xbrl:concept":"us-gaap:CashAndCashEquivalentsPolicyTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nCash and Cash Equivalents
\nWe consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. Fraser Yachts Group customer charter management cash accounts are excluded from cash and cash equivalents. These accounts belong to our customers and we provide management assistance at the request of the customer and for the benefit of the customer.
"}]},{"name":"rpt:f-369","factDimensions":{"xbrl:concept":"hzo:RevenueRecognitionVendorConsiderationPolicyTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nVendor Consideration Received
\nWe account for consideration received from our vendors in accordance with ASU 2014-09, \u201cRevenue from Contracts with Customers (Topic 606)\u201d. ASC 606 requires us to classify interest assistance received from manufacturers as a reduction of inventory cost and related cost of sales as opposed to netting the assistance against our interest expense incurred with our lenders.\u00a0\u00a0Pursuant to ASC 606, amounts received by us under our co-op assistance programs from our manufacturers are netted against related advertising expenses.\u00a0\u00a0Our consideration received from our vendors contains uncertainties because the calculation requires management to make assumptions and to apply judgment regarding a number of factors, including our ability to collect amounts due from vendors and the ability to meet certain criteria stipulated by our vendors.\u00a0\u00a0We do not believe there is a reasonable likelihood that there will be a change in the future estimates or assumptions we use to calculate our vendor considerations which would result in a material effect on our operating results.
"}]},{"name":"rpt:f-370","factDimensions":{"xbrl:concept":"us-gaap:InventoryPolicyTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nInventories
\nInventory costs consist of the amount paid to acquire inventory, net of vendor consideration and purchase discounts, the cost of equipment added, reconditioning costs, and transportation costs relating to acquiring inventory for sale. We state new and used boat, motor, and trailer inventories at the lower of cost, determined on a specific-identification basis, or net realizable value. We state parts and accessories at the lower of cost, determined on an average cost basis, or net realizable value. We utilize our historical experience, the aging of the inventories, and our consideration of current market trends as the basis for determining lower of cost or net realizable value. We do not believe there is a reasonable likelihood that there will be a change in the future estimates or assumptions we use to calculate our valuation allowance which would result in a material effect on our operating results. As of September 30, 2019 and 2020, our valuation allowance for new and used boat, motor and trailer inventories was $2.2 million and $2.4 million, respectively.\u00a0\u00a0If events occur and market conditions change, causing the fair value to fall below carrying value, the valuation allowance could increase.
"}]},{"name":"rpt:f-371","factDimensions":{"xbrl:concept":"us-gaap:InventoryValuationReserves","xbrl:period":"2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"2200000","decimals":-5}]},{"name":"rpt:f-372","factDimensions":{"xbrl:concept":"us-gaap:InventoryValuationReserves","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"2400000","decimals":-5}]},{"name":"rpt:f-373","factDimensions":{"xbrl:concept":"us-gaap:PropertyPlantAndEquipmentPolicyTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nProperty and Equipment
\nWe record property and equipment at cost, net of accumulated depreciation, and depreciate property and equipment over their estimated useful lives using the straight-line method.\u00a0\u00a0We capitalize and amortize leasehold improvements over the lesser of the life of the lease or the estimated useful life of the asset.\u00a0\u00a0Useful lives for purposes of computing depreciation are as follows:
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n Years | \n
| \n Buildings and improvements | \n\n \u00a0 | \n\n 5-40 | \n
| \n Machinery and equipment | \n\n \u00a0 | \n\n 3-10 | \n
| \n Furniture and fixtures | \n\n \u00a0 | \n\n 5-10 | \n
| \n Vehicles | \n\n \u00a0 | \n\n 3-5 | \n
\u00a0
\nWe remove the cost of property and equipment sold or retired and the related accumulated depreciation from the accounts at the time of disposition and include any resulting gain or loss in the consolidated statements of operations.\u00a0\u00a0We charge maintenance, repairs, and minor replacements to operations as incurred, and we capitalize and amortize major replacements and improvements over their useful lives.
"}]},{"name":"rpt:f-374","factDimensions":{"xbrl:concept":"us-gaap:PropertyPlantAndEquipmentTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"Useful lives for purposes of computing depreciation are as follows:\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n Years | \n
| \n Buildings and improvements | \n\n \u00a0 | \n\n 5-40 | \n
| \n Machinery and equipment | \n\n \u00a0 | \n\n 3-10 | \n
| \n Furniture and fixtures | \n\n \u00a0 | \n\n 5-10 | \n
| \n Vehicles | \n\n \u00a0 | \n\n 3-5 | \n
Goodwill
\nWe account for goodwill in accordance with FASB Accounting Standards Codification 350, \u201cIntangibles \u2014 Goodwill and Other\u201d (\u201cASC 350\u201d), which requires the excess purchase price over the estimated fair value of net assets acquired in a business combination to be recorded as goodwill. In July 2020, we purchased Northrop & Johnson, a leading superyacht brokerage and services company. In March 2020, we purchased Boatyard, a digital platform with an expansive range of on-demand services to streamline the boating experience by qualified service providers from a smartphone. In July 2019, we purchased Fraser Yachts Group, a leading superyacht brokerage and largest luxury yacht services company. In April 2019, we purchased Sail & Ski Center, a privately owned boat dealer located in Texas. Goodwill and other intangible assets increased, due to acquisitions, by $37.0 million and $20.2 million, for the fiscal years ended September 30, 2019 and 2020, respectively. These acquisitions have resulted in the recording of goodwill for tax purposes of $10.5 million and $16.8 million, for the fiscal years ended September 30, 2019 and 2020, respectively. In total, current and previous acquisitions have resulted in the recording of $84.3 million in goodwill and other intangible assets as of September 30, 2020. In accordance with ASC 350, we test goodwill for impairment at least annually and whenever events or changes in circumstances indicate that the carrying value may not be recoverable.\u00a0\u00a0Our annual impairment test is performed during the fourth fiscal quarter.\u00a0\u00a0If the carrying amount of a reporting unit\u2019s goodwill exceeds its fair value we recognize an impairment loss in accordance with ASC 350. As of September 30, 2020, and based upon our most recent analysis, we determined through our qualitative assessment that it is not \u201cmore likely than not\u201d that the fair values of our reporting units are less than their carrying values.\u00a0\u00a0As a result, we were not required to perform a quantitative goodwill impairment.
"}]},{"name":"rpt:f-376","factDimensions":{"xbrl:concept":"hzo:GoodwillAndOtherIntangibleAssetsAcquiredDuringPeriod","xbrl:period":"2018-10-01T00:00:00/2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"37000000.0","decimals":-5}]},{"name":"rpt:f-377","factDimensions":{"xbrl:concept":"hzo:GoodwillAndOtherIntangibleAssetsAcquiredDuringPeriod","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"20200000","decimals":-5}]},{"name":"rpt:f-378","factDimensions":{"xbrl:concept":"us-gaap:BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount","xbrl:period":"2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"10500000","decimals":-5}]},{"name":"rpt:f-379","factDimensions":{"xbrl:concept":"us-gaap:BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"16800000","decimals":-5}]},{"name":"rpt:f-380","factDimensions":{"xbrl:concept":"us-gaap:IntangibleAssetsNetIncludingGoodwill","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"84300000","decimals":-5}]},{"name":"rpt:f-381","factDimensions":{"xbrl:concept":"us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nImpairment of Long-Lived Assets
\nFASB Accounting Standards Codification 360-10-40, \u201cProperty, Plant, and Equipment \u2014 Impairment or Disposal of Long-Lived Assets\u201d (\u201cASC 360-10-40\u201d), requires that long-lived assets, such as property and equipment and intangible assets subject to amortization, be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.\u00a0\u00a0Recoverability of the asset is measured by comparison of its carrying amount to undiscounted future cash flows the asset is expected to generate.\u00a0\u00a0If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the asset exceeds its fair market value.\u00a0\u00a0Estimates of expected future cash flows represent our best estimate based on currently available information and reasonable and supportable assumptions. The analysis is performed at a regional level for indicators of permanent impairment given the geographical interdependencies among our locations.\u00a0\u00a0Based upon our most recent analysis, we believe no impairment of long-lived assets existed as of September 30, 2020.
"}]},{"name":"rpt:f-382","factDimensions":{"xbrl:concept":"us-gaap:ImpairmentOfLongLivedAssetsHeldForUse","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"0"}]},{"name":"rpt:f-383","factDimensions":{"xbrl:concept":"hzo:InsurancePolicyTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nInsurance
\nWe retain varying levels of risk relating to the insurance policies we maintain, most significantly, workers\u2019 compensation insurance and employee medical benefits.\u00a0\u00a0We are responsible for the claims and losses incurred under these programs, limited by per occurrence deductibles and paid claims or losses up to pre-determined maximum exposure limits.\u00a0\u00a0Our third-party insurance carriers pay any losses above the pre-determined exposure limits.\u00a0\u00a0We estimate our liability for incurred but not reported losses using our historical loss experience, our judgment, and industry information.
"}]},{"name":"rpt:f-384","factDimensions":{"xbrl:concept":"us-gaap:RevenueRecognitionPolicyTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nRevenue Recognition
\nThe majority of our revenue is from contracts with customers for the sale of boats, motors, and trailers. We recognize revenue from boat, motor, and trailer sales upon transfer of control of the boat, motor, or trailer to the customer, which is generally upon acceptance or delivery to the customer. The transaction price is determined with the customer at time of sale. Customers may trade in boats to apply toward the purchase of a new or used boat. The trade-in is a type of noncash consideration measured at fair value, based on external and internal market data and applied as payment to the contract price for the purchased boat. At the time of acceptance or delivery, the customer is able to direct the use of, and obtain substantially all of the benefits of the boat, motor, or trailer at such time. We recognize commissions earned from a brokerage sale when the related brokerage transaction closes upon transfer of control of the boat, motor, or trailer to the customer, which is generally upon acceptance or delivery to the customer.
\nWe do not directly finance our customers\u2019 boat, motor, or trailer purchases. In many cases, we assist with third-party financing for boat, motor, and trailer sales. We recognize commissions earned by us for placing notes with financial institutions in connection with customer boat financing when we recognize the related boat sales. Pursuant to negotiated agreements with financial institutions, we are charged back for a portion of these fees should the customer terminate or default on the related finance contract before it is outstanding for a stipulated minimum period of time.\u00a0\u00a0We base the chargeback allowance, which was not material to the consolidated financial statements taken as a whole as of September 30, 2020, on our experience with repayments or defaults on the related finance contracts. We recognize variable consideration from commissions earned on extended warranty service contracts sold on behalf of third-party insurance companies at generally the later of customer acceptance of the service contract terms as evidenced by contract execution or recognition of the related boat sale. We also recognize variable consideration from marketing fees earned on insurance products sold by third-party insurance companies at the later of customer acceptance of the insurance product as evidenced by contract execution or when the related boat sale is recognized.
\nWe recognize revenue from parts and service operations (boat maintenance and repairs) over time as services are performed. Each boat maintenance and repair service is a single performance obligation that includes both the parts and labor associated with the service. Payment for boat maintenance and repairs is typically due upon the completion of the service, which is generally completed within a short period of time from contract inception. We satisfy our performance obligations, transfer control, and recognize revenue over time for parts and service operations because we are creating a contract asset with no alternative use and we have an enforceable right to payment for performance completed to date. Contract assets primarily relate to our right to consideration for work in process not yet billed at the reporting date associated with maintenance and repair services. We use an input method to recognize revenue and measure progress based on labor hours expended to satisfy the performance obligation at average labor rates. We have determined labor hours expended to be the relevant measure of work performed to complete the maintenance and repair service for the customer. As a practical expedient, because repair and maintenance service contracts have an original duration of one year or less, we do not consider the time value of money, and we do not disclose estimated revenue expected to be recognized in the future for performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period or when we expect to recognize such revenue.
\nContract liabilities primarily consist of customer deposits. We recognize contract liabilities (customer deposits) as revenue at the time of delivery or acceptance by the customers.\u00a0\u00a0Total contract liabilities of approximately $24.3 million recorded as of September 30, 2019 were recognized in revenue during the fiscal year ended September 30, 2020. Contract assets, recorded in prepaid expenses and other current assets, totaled approximately $2.5 million and $2.6 million as of September 30, 2019 and September 30, 2020, respectively.
\nWe recognize deferred revenue from service operations and slip and storage services over time on a straight-line basis over the term of the contract as our performance obligations are met. We recognize income from the rentals of chartering power and sailing yachts over time on a straight-line basis over the term of the contract as our performance obligations are met.
\nThe following table sets forth percentages on the timing of revenue recognition for the fiscal years ended September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n Fiscal Year Ended | \n\n \u00a0 | \n\n \u00a0 | \n\n Fiscal Year Ended | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n September 30, | \n\n \u00a0 | \n\n \u00a0 | \n\n September 30, | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n||
| \n Goods and services transferred at a point in time | \n\n \u00a0 | \n\n \u00a0 | \n\n 90.8 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 92.7 | \n\n % | \n
| \n Goods and services transferred over time | \n\n \u00a0 | \n\n \u00a0 | \n\n 9.2 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 7.3 | \n\n % | \n
| \n \u00a0\u00a0\u00a0\u00a0 Total Revenue | \n\n \u00a0 | \n\n \u00a0 | \n\n 100.0 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 100.0 | \n\n % | \n
\u00a0
\n\u00a0
\nThe following table sets forth percentages of our revenue generated by certain products and services, for each of last three fiscal years.
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2018 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n|||
| \n New boat sales | \n\n \u00a0 | \n\n \u00a0 | \n\n 71.2 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 70.1 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 70.2 | \n\n % | \n
| \n Used boat sales | \n\n \u00a0 | \n\n \u00a0 | \n\n 14.8 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 14.9 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 15.1 | \n\n % | \n
| \n Maintenance, repair, storage, and charter services | \n\n \u00a0 | \n\n \u00a0 | \n\n 6.2 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 6.9 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 6.4 | \n\n % | \n
| \n Finance and insurance products | \n\n \u00a0 | \n\n \u00a0 | \n\n 2.4 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 2.6 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 2.7 | \n\n % | \n
| \n Parts and accessories | \n\n \u00a0 | \n\n \u00a0 | \n\n 3.6 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 3.6 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 3.0 | \n\n % | \n
| \n Brokerage sales | \n\n \u00a0 | \n\n \u00a0 | \n\n 1.8 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 1.9 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 2.6 | \n\n % | \n
| \n Total revenue | \n\n \u00a0 | \n\n \u00a0 | \n\n 100.0 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 100.0 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 100.0 | \n\n % | \n
The following table sets forth percentages on the timing of revenue recognition for the fiscal years ended September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n Fiscal Year Ended | \n\n \u00a0 | \n\n \u00a0 | \n\n Fiscal Year Ended | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n September 30, | \n\n \u00a0 | \n\n \u00a0 | \n\n September 30, | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n||
| \n Goods and services transferred at a point in time | \n\n \u00a0 | \n\n \u00a0 | \n\n 90.8 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 92.7 | \n\n % | \n
| \n Goods and services transferred over time | \n\n \u00a0 | \n\n \u00a0 | \n\n 9.2 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 7.3 | \n\n % | \n
| \n \u00a0\u00a0\u00a0\u00a0 Total Revenue | \n\n \u00a0 | \n\n \u00a0 | \n\n 100.0 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 100.0 | \n\n % | \n
\u00a0
"}]},{"name":"rpt:f-391","factDimensions":{"xbrl:concept":"hzo:RevenueFromContractWithCustomerPercentage","xbrl:period":"2018-10-01T00:00:00/2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:TimingOfTransferOfGoodOrServiceAxis":"us-gaap:TransferredAtPointInTimeMember"},"factValues":[{"value":"0.908","decimals":3}]},{"name":"rpt:f-392","factDimensions":{"xbrl:concept":"hzo:RevenueFromContractWithCustomerPercentage","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:TimingOfTransferOfGoodOrServiceAxis":"us-gaap:TransferredAtPointInTimeMember"},"factValues":[{"value":"0.927","decimals":3}]},{"name":"rpt:f-393","factDimensions":{"xbrl:concept":"hzo:RevenueFromContractWithCustomerPercentage","xbrl:period":"2018-10-01T00:00:00/2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:TimingOfTransferOfGoodOrServiceAxis":"us-gaap:TransferredOverTimeMember"},"factValues":[{"value":"0.092","decimals":3}]},{"name":"rpt:f-394","factDimensions":{"xbrl:concept":"hzo:RevenueFromContractWithCustomerPercentage","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:TimingOfTransferOfGoodOrServiceAxis":"us-gaap:TransferredOverTimeMember"},"factValues":[{"value":"0.073","decimals":3}]},{"name":"rpt:f-395","factDimensions":{"xbrl:concept":"hzo:RevenueFromContractWithCustomerPercentage","xbrl:period":"2018-10-01T00:00:00/2019-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"1.000"}]},{"name":"rpt:f-396","factDimensions":{"xbrl:concept":"hzo:RevenueFromContractWithCustomerPercentage","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"1.000"}]},{"name":"rpt:f-397","factDimensions":{"xbrl:concept":"us-gaap:SchedulesOfConcentrationOfRiskByRiskFactorTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:ConcentrationRiskByTypeAxis":"us-gaap:ProductConcentrationRiskMember","us-gaap:ConcentrationRiskByBenchmarkAxis":"us-gaap:SalesRevenueNetMember"},"factValues":[{"value":"\nThe following table sets forth percentages of our revenue generated by certain products and services, for each of last three fiscal years.
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2018 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n|||
| \n New boat sales | \n\n \u00a0 | \n\n \u00a0 | \n\n 71.2 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 70.1 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 70.2 | \n\n % | \n
| \n Used boat sales | \n\n \u00a0 | \n\n \u00a0 | \n\n 14.8 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 14.9 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 15.1 | \n\n % | \n
| \n Maintenance, repair, storage, and charter services | \n\n \u00a0 | \n\n \u00a0 | \n\n 6.2 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 6.9 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 6.4 | \n\n % | \n
| \n Finance and insurance products | \n\n \u00a0 | \n\n \u00a0 | \n\n 2.4 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 2.6 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 2.7 | \n\n % | \n
| \n Parts and accessories | \n\n \u00a0 | \n\n \u00a0 | \n\n 3.6 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 3.6 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 3.0 | \n\n % | \n
| \n Brokerage sales | \n\n \u00a0 | \n\n \u00a0 | \n\n 1.8 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 1.9 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 2.6 | \n\n % | \n
| \n Total revenue | \n\n \u00a0 | \n\n \u00a0 | \n\n 100.0 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 100.0 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 100.0 | \n\n % | \n
Stock-Based Compensation
\nWe account for our stock-based compensation plans following the provisions of FASB Accounting Standards Codification 718, \u201cCompensation\u00a0\u2014 Stock Compensation\u201d (\u201cASC 718\u201d).\u00a0\u00a0In accordance with ASC 718, we use the Black-Scholes valuation model for valuing all stock-based compensation and shares purchased under our Employee Stock Purchase Plan.\u00a0\u00a0We measure compensation for restricted stock awards and restricted stock units at fair value on the grant date based on the number of shares expected to vest and the quoted market price of our common stock.\u00a0\u00a0We recognize compensation cost for all awards in operations, net of estimated forfeitures, on a straight-line basis over the requisite service period for each separately vesting portion of the award.
"}]},{"name":"rpt:f-420","factDimensions":{"xbrl:concept":"us-gaap:LesseeLeasesPolicyTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nLeases
\n\u00a0
\nWe lease numerous facilities relating to our operations. See Note 7 of the Notes to Consolidated Financial Statements for a discussion of our significant accounting policies related to leases.
"}]},{"name":"rpt:f-421","factDimensions":{"xbrl:concept":"us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nForeign Currency Transactions
For the Company\u2019s foreign subsidiaries that use a currency other than the U.S. dollar as their functional currency, the assets and liabilities are translated at exchange rates in effect at the balance sheet date, and revenues and expenses are translated at the weighted average exchange rate for the period. The effects of these translation adjustments are reported in accumulated other comprehensive income. Gains and losses arising from transactions denominated in a currency other than the functional currency of the entity involved are included in operating income. As of September 30, 2020, our accumulated other comprehensive income, net of tax, was $0.8 million. As of September 30, 2019, our accumulated other comprehensive loss, net of tax, was $0.7 million. The change in accumulated other comprehensive income was the result of foreign currency translation adjustments net of taxes. No amounts were reclassified out of accumulated other comprehensive income in fiscal 2020."}]},{"name":"rpt:f-422","factDimensions":{"xbrl:concept":"us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"800000","decimals":-5}]},{"name":"rpt:f-423","factDimensions":{"xbrl:concept":"us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax","xbrl:period":"2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"-700000","decimals":-5}]},{"name":"rpt:f-424","factDimensions":{"xbrl:concept":"us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"0"}]},{"name":"rpt:f-425","factDimensions":{"xbrl:concept":"us-gaap:AdvertisingCostsPolicyTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nAdvertising and Promotional Cost
\nWe expense advertising and promotional costs as incurred and include them in selling, general and administrative expenses in the accompanying consolidated statements of operations.\u00a0\u00a0Pursuant to ASC 606, we net amounts received by us under our co-op assistance programs from our manufacturers against the related advertising expenses.\u00a0\u00a0Total advertising and promotional expenses approximated $16.5 million, $18.8 million and $14.0\u00a0million, net of related co-op assistance of approximately $653,000, $807,000, and $589,000, for the fiscal years ended September\u00a030, 2018, 2019, and 2020, respectively.
"}]},{"name":"rpt:f-426","factDimensions":{"xbrl:concept":"us-gaap:MarketingAndAdvertisingExpense","xbrl:period":"2017-10-01T00:00:00/2018-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"16500000","decimals":-5}]},{"name":"rpt:f-427","factDimensions":{"xbrl:concept":"us-gaap:MarketingAndAdvertisingExpense","xbrl:period":"2018-10-01T00:00:00/2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"18800000","decimals":-5}]},{"name":"rpt:f-428","factDimensions":{"xbrl:concept":"us-gaap:MarketingAndAdvertisingExpense","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"14000000.0","decimals":-5}]},{"name":"rpt:f-429","factDimensions":{"xbrl:concept":"hzo:NetOfRelatedCoOpAssistance","xbrl:period":"2017-10-01T00:00:00/2018-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"653000","decimals":0}]},{"name":"rpt:f-430","factDimensions":{"xbrl:concept":"hzo:NetOfRelatedCoOpAssistance","xbrl:period":"2018-10-01T00:00:00/2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"807000","decimals":0}]},{"name":"rpt:f-431","factDimensions":{"xbrl:concept":"hzo:NetOfRelatedCoOpAssistance","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"589000","decimals":0}]},{"name":"rpt:f-432","factDimensions":{"xbrl:concept":"us-gaap:IncomeTaxPolicyTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nIncome Taxes
\nWe account for income taxes in accordance with FASB Accounting Standards Codification 740, \u201cIncome Taxes\u201d (\u201cASC 740\u201d).\u00a0\u00a0Under ASC 740, we recognize deferred tax assets and liabilities for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis.\u00a0\u00a0We measure deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which we expect those temporary differences to be recovered or settled.\u00a0\u00a0We record valuation allowances to reduce our deferred tax assets to the amount expected to be realized by considering all available positive and negative evidence.
"}]},{"name":"rpt:f-433","factDimensions":{"xbrl:concept":"us-gaap:ConcentrationRiskCreditRisk","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nConcentrations of Credit Risk
\nFinancial instruments, which potentially subject us to concentrations of credit risk, consist principally of cash and cash equivalents and accounts receivable.\u00a0\u00a0Concentrations of credit risk with respect to our cash and cash equivalents are limited primarily to amounts held with financial institutions.\u00a0\u00a0Concentrations of credit risk arising from our receivables are limited primarily to amounts due from manufacturers and financial institutions.
"}]},{"name":"rpt:f-434","factDimensions":{"xbrl:concept":"us-gaap:FairValueOfFinancialInstrumentsPolicy","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nFair Value of Financial Instruments
\nOur financial instruments include cash and cash equivalents, accounts receivable, accounts payable, other payables and accrued expenses and debt. The carrying values of cash and cash equivalents, accounts receivable, accounts payable, other payables and accrued expenses approximate their fair values due to their short-term nature. The carrying value of debt approximates its fair value due to the debt agreements bearing interest at rates that approximate current market rates for debt agreements with similar maturities and credit quality.
"}]},{"name":"rpt:f-435","factDimensions":{"xbrl:concept":"us-gaap:UseOfEstimates","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nUse of Estimates and Assumptions
\nThe preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates made by us in the accompanying consolidated financial statements relate to valuation allowances, valuation of goodwill and intangible assets, valuation of long-lived assets, valuation of contingent consideration, and valuation of accruals.\u00a0\u00a0Actual results could differ materially from those estimates.
"}]},{"name":"rpt:f-436","factDimensions":{"xbrl:concept":"us-gaap:SegmentReportingPolicyPolicyTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nSegment Reporting
\nWe operate as one reporting segment in accordance with the FASB Accounting Standards Codification 280, \u201cSegment Reporting\u201d.\u00a0\u00a0The metrics used by our Chief Executive Officer (as the Company\u2019s chief operating decision maker or the \u201cCODM\u201d) to assess the performance of the Company are focused on viewing the business as a single integrated business.
"}]},{"name":"rpt:f-437","factDimensions":{"xbrl:concept":"us-gaap:NumberOfReportableSegments","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"hzo:Segment"},"factValues":[{"value":"1"}]},{"name":"rpt:f-438","factDimensions":{"xbrl:concept":"us-gaap:NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\n3.\u00a0\u00a0NEW ACCOUNTING PRONOUNCEMENTS:
\nRevenue Recognition
\nIn May 2014, the FASB issued Accounting Standards Update No. 2014-09, \u201cRevenue from Contracts with Customers (Topic 606)\u201d (\u201cASU 2014-09\u201d), a converged standard on revenue recognition.\u00a0\u00a0The new pronouncement requires revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.\u00a0\u00a0The guidance also specifies the accounting for some costs to obtain or fulfill a contract with a customer, as well as enhanced disclosure requirements. The FASB also subsequently issued several amendments to the standard, including clarification on principal versus agent guidance, identifying performance obligations, and immaterial goods and services in a contract.
\nThe new accounting standard update must be applied using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a modified retrospective approach with the cumulative effect of initially adopting the standard recognized at the date of adoption (which requires additional footnote disclosures).
\nThe new accounting standard is effective for reporting periods beginning after December 15, 2017. We adopted the accounting standard effective October 1, 2018, using the modified retrospective approach applied only to contracts not completed as of the date of adoption, with no restatement of comparative periods. Therefore, the comparative information has not been adjusted and continues to be reported under ASC Topic 605. We recognized a net after-tax cumulative effect adjustment to retained earnings of $399,000 as of the date of adoption. The details and quantitative impacts of the significant changes are described below.
\nWe previously recognized revenue for parts and service operations (boat maintenance and repairs) when the services were completed and recorded amounts due to us as receivables. Under ASC Topic 606, performance obligations associated with parts and service operations are satisfied over time, which results in the acceleration of revenue recognition, and amounts due to us are reflected as a contract asset until the right to such consideration becomes unconditional, at which time amounts due to us are reclassified to receivables.
\n\u00a0
\n\u00a0
\n| \n Consolidated Balance Sheet Line Items | \n\n \u00a0 | \n|||||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n Impact of changes in accounting policies | \n\n \u00a0 | \n|||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n Balances without | \n\n \u00a0 | \n\n \u00a0 | \n\n Impact of | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption of ASC | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption | \n\n \u00a0 | \n||
| \n September 30, 2019 | \n\n \u00a0 | \n\n As Reported | \n\n \u00a0 | \n\n \u00a0 | \n\n Topic 606 | \n\n \u00a0 | \n\n \u00a0 | \n\n Higher/(Lower) | \n\n \u00a0 | \n|||
| \n Inventories, net | \n\n \u00a0 | \n\n $ | \n\n 477,468 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 477,405 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 63 | \n\n \u00a0 | \n
| \n Prepaid expenses and other current assets | \n\n \u00a0 | \n\n \u00a0 | \n\n 10,206 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 7,681 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,525 | \n\n \u00a0 | \n
| \n \u00a0\u00a0\u00a0\u00a0 Accounts payable | \n\n \u00a0 | \n\n \u00a0 | \n\n 33,674 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 33,708 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (34 | \n\n ) | \n
| \n \u00a0\u00a0\u00a0\u00a0 Accrued expenses | \n\n \u00a0 | \n\n \u00a0 | \n\n 42,849 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 40,669 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,180 | \n\n \u00a0 | \n
| \n \u00a0\u00a0\u00a0\u00a0 Deferred tax liabilities | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,142 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,005 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 137 | \n\n \u00a0 | \n
| \n \u00a0\u00a0\u00a0\u00a0 Retained earnings | \n\n \u00a0 | \n\n $ | \n\n 202,455 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 202,150 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 305 | \n\n \u00a0 | \n
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Consolidated Statements of Operations Line Items | \n\n \u00a0 | \n|||||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n Impact of changes in accounting policies | \n\n \u00a0 | \n|||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n Balances without | \n\n \u00a0 | \n\n \u00a0 | \n\n Impact of | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption of ASC | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption | \n\n \u00a0 | \n||
| \n Fiscal Year Ended September 30, 2019 | \n\n \u00a0 | \n\n As Reported | \n\n \u00a0 | \n\n \u00a0 | \n\n Topic 606 | \n\n \u00a0 | \n\n \u00a0 | \n\n Higher/(Lower) | \n\n \u00a0 | \n|||
| \n Revenue | \n\n \u00a0 | \n\n $ | \n\n 1,237,153 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 1,237,899 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n (746 | \n\n ) | \n
| \n Cost of sales | \n\n \u00a0 | \n\n \u00a0 | \n\n 914,321 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 914,939 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (618 | \n\n ) | \n
| \n Income from operations | \n\n \u00a0 | \n\n \u00a0 | \n\n 60,532 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 60,660 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (128 | \n\n ) | \n
| \n \u00a0\u00a0\u00a0\u00a0 Income before income tax provision | \n\n \u00a0 | \n\n \u00a0 | \n\n 48,953 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 49,081 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (128 | \n\n ) | \n
| \n Income tax provision | \n\n \u00a0 | \n\n \u00a0 | \n\n 12,968 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 13,002 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (34 | \n\n ) | \n
| \n Net Income | \n\n \u00a0 | \n\n $ | \n\n 35,985 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 36,079 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n (94 | \n\n ) | \n
\u00a0
\n| \n Consolidated Statements of Cash flows | \n\n \u00a0 | \n|||||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n Impact of changes in accounting policies | \n\n \u00a0 | \n|||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n Balances without | \n\n \u00a0 | \n\n \u00a0 | \n\n Impact of | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption of ASC | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption | \n\n \u00a0 | \n||
| \n Fiscal Year Ended September 30, 2019 | \n\n \u00a0 | \n\n As Reported | \n\n \u00a0 | \n\n \u00a0 | \n\n Topic 606 | \n\n \u00a0 | \n\n \u00a0 | \n\n Higher/(Lower) | \n\n \u00a0 | \n|||
| \n Net income | \n\n \u00a0 | \n\n $ | \n\n 35,985 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 36,079 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n (94 | \n\n ) | \n
| \n (Increase) decrease in \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Inventories, net | \n\n \u00a0 | \n\n \u00a0 | \n\n (84,330 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n (83,712 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n (618 | \n\n ) | \n
| \n Prepaid expenses and other assets | \n\n \u00a0 | \n\n \u00a0 | \n\n (3,182 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n (1,748 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n (1,434 | \n\n ) | \n
| \n Increase (decrease) in \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Accounts payable | \n\n \u00a0 | \n\n \u00a0 | \n\n 8,701 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 8,735 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (34 | \n\n ) | \n
| \n Accrued expenses and other long-term liabilities | \n\n \u00a0 | \n\n $ | \n\n 4,731 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 2,551 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 2,180 | \n\n \u00a0 | \n
\u00a0
\nAccounting for Leases
\nIn February 2016, the FASB issued ASU 2016-02,\u00a0\u201cLeases (Topic 842)\u201d (\u201cASU 2016-02\u201d).\u00a0\u00a0This update requires organizations to recognize lease assets and lease liabilities on the balance sheet and also disclose key information about leasing arrangements. ASU 2016-02 was effective for annual reporting periods beginning on or after December\u00a015, 2018, and interim periods within those annual periods. Earlier application was permitted for all entities as of the beginning of an interim or annual period. Subsequent amendments to the standard provide an additional and optional transition method that allows entities to initially apply the new standard at the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption. An entity\u2019s reporting for the comparative periods presented in the financial statements in which it adopts the new leases standard will continue to be in accordance with current GAAP (ASC Topic 840) if the optional transition method is elected.
\n\u00a0
\nWe adopted ASU 2016-02 effective October 1, 2019 the first day of fiscal 2020. We elected the package of practical expedients available under the transition guidance within the new standard, which among other things, allowed us to carry forward the historical lease classification of our existing leases. Consequently, on adoption, we recognized additional operating lease liabilities of $44.0 million and right-of-use (\u201cROU\u201d) assets of $42.1 million. The new standard also provides practical expedients for an entity\u2019s ongoing accounting. We elected the short-term lease recognition exemption for all leases that qualify. As a result, for those leases that qualify, we will not recognize ROU assets or lease liabilities, and we did not recognize ROU assets or lease liabilities for existing short-term leases of those assets in transition. We also elected the practical expedient to not separate lease and non-lease components. We recognized a net after-tax cumulative effect adjustment to retained earnings of $0.6 million\u00a0as of the date of adoption. See Note 7 for additional information on our leases.
\n\u00a0
\nOther New Pronouncements
\n\u00a0
\nIn August 2018, the FASB issued ASU 2018-15, Customer\u2019s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract, which aligns the accounting for implementation costs incurred in a cloud computing arrangement that is a service contract with the guidance on capitalizing costs associated with developing or obtaining internal-use software. The guidance amends Accounting Standards Codification (ASC) 350 to include in its scope implementation costs of a cloud computing arrangement that is a service contract and clarifies that a customer should apply ASC 350 to determine which implementation costs should be capitalized in such a cloud computing arrangement. This guidance is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2019. We are currently evaluating the impact that this standard will have on our consolidated financial statements.
\n\u00a0
\nIn June 2016, the FASB issued ASU 2016-13, Financial Instruments \u2014 Credit Losses. ASU 2016-13 requires entities to report \u201cexpected\u201d credit losses on financial instruments and other commitments to extend credit rather than the current \u201cincurred loss\u201d model. These expected credit losses for financial assets held at the reporting date are to be based on historical experience, current conditions, and reasonable and supportable forecasts. This ASU will also require enhanced disclosures relating to significant estimates and judgments used in estimating credit losses, as well as the credit quality. This guidance is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2019. We are currently evaluating the impact that this standard will have on our consolidated financial statements.
"}]},{"name":"rpt:f-439","factDimensions":{"xbrl:concept":"us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nRevenue Recognition
\nIn May 2014, the FASB issued Accounting Standards Update No. 2014-09, \u201cRevenue from Contracts with Customers (Topic 606)\u201d (\u201cASU 2014-09\u201d), a converged standard on revenue recognition.\u00a0\u00a0The new pronouncement requires revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.\u00a0\u00a0The guidance also specifies the accounting for some costs to obtain or fulfill a contract with a customer, as well as enhanced disclosure requirements. The FASB also subsequently issued several amendments to the standard, including clarification on principal versus agent guidance, identifying performance obligations, and immaterial goods and services in a contract.
\nThe new accounting standard update must be applied using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a modified retrospective approach with the cumulative effect of initially adopting the standard recognized at the date of adoption (which requires additional footnote disclosures).
\nThe new accounting standard is effective for reporting periods beginning after December 15, 2017. We adopted the accounting standard effective October 1, 2018, using the modified retrospective approach applied only to contracts not completed as of the date of adoption, with no restatement of comparative periods. Therefore, the comparative information has not been adjusted and continues to be reported under ASC Topic 605. We recognized a net after-tax cumulative effect adjustment to retained earnings of $399,000 as of the date of adoption. The details and quantitative impacts of the significant changes are described below.
\nWe previously recognized revenue for parts and service operations (boat maintenance and repairs) when the services were completed and recorded amounts due to us as receivables. Under ASC Topic 606, performance obligations associated with parts and service operations are satisfied over time, which results in the acceleration of revenue recognition, and amounts due to us are reflected as a contract asset until the right to such consideration becomes unconditional, at which time amounts due to us are reclassified to receivables.
\n\u00a0
\n\u00a0
\n| \n Consolidated Balance Sheet Line Items | \n\n \u00a0 | \n|||||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n Impact of changes in accounting policies | \n\n \u00a0 | \n|||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n Balances without | \n\n \u00a0 | \n\n \u00a0 | \n\n Impact of | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption of ASC | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption | \n\n \u00a0 | \n||
| \n September 30, 2019 | \n\n \u00a0 | \n\n As Reported | \n\n \u00a0 | \n\n \u00a0 | \n\n Topic 606 | \n\n \u00a0 | \n\n \u00a0 | \n\n Higher/(Lower) | \n\n \u00a0 | \n|||
| \n Inventories, net | \n\n \u00a0 | \n\n $ | \n\n 477,468 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 477,405 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 63 | \n\n \u00a0 | \n
| \n Prepaid expenses and other current assets | \n\n \u00a0 | \n\n \u00a0 | \n\n 10,206 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 7,681 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,525 | \n\n \u00a0 | \n
| \n \u00a0\u00a0\u00a0\u00a0 Accounts payable | \n\n \u00a0 | \n\n \u00a0 | \n\n 33,674 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 33,708 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (34 | \n\n ) | \n
| \n \u00a0\u00a0\u00a0\u00a0 Accrued expenses | \n\n \u00a0 | \n\n \u00a0 | \n\n 42,849 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 40,669 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,180 | \n\n \u00a0 | \n
| \n \u00a0\u00a0\u00a0\u00a0 Deferred tax liabilities | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,142 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,005 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 137 | \n\n \u00a0 | \n
| \n \u00a0\u00a0\u00a0\u00a0 Retained earnings | \n\n \u00a0 | \n\n $ | \n\n 202,455 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 202,150 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 305 | \n\n \u00a0 | \n
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Consolidated Statements of Operations Line Items | \n\n \u00a0 | \n|||||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n Impact of changes in accounting policies | \n\n \u00a0 | \n|||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n Balances without | \n\n \u00a0 | \n\n \u00a0 | \n\n Impact of | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption of ASC | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption | \n\n \u00a0 | \n||
| \n Fiscal Year Ended September 30, 2019 | \n\n \u00a0 | \n\n As Reported | \n\n \u00a0 | \n\n \u00a0 | \n\n Topic 606 | \n\n \u00a0 | \n\n \u00a0 | \n\n Higher/(Lower) | \n\n \u00a0 | \n|||
| \n Revenue | \n\n \u00a0 | \n\n $ | \n\n 1,237,153 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 1,237,899 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n (746 | \n\n ) | \n
| \n Cost of sales | \n\n \u00a0 | \n\n \u00a0 | \n\n 914,321 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 914,939 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (618 | \n\n ) | \n
| \n Income from operations | \n\n \u00a0 | \n\n \u00a0 | \n\n 60,532 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 60,660 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (128 | \n\n ) | \n
| \n \u00a0\u00a0\u00a0\u00a0 Income before income tax provision | \n\n \u00a0 | \n\n \u00a0 | \n\n 48,953 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 49,081 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (128 | \n\n ) | \n
| \n Income tax provision | \n\n \u00a0 | \n\n \u00a0 | \n\n 12,968 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 13,002 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (34 | \n\n ) | \n
| \n Net Income | \n\n \u00a0 | \n\n $ | \n\n 35,985 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 36,079 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n (94 | \n\n ) | \n
\u00a0
\n| \n Consolidated Statements of Cash flows | \n\n \u00a0 | \n|||||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n Impact of changes in accounting policies | \n\n \u00a0 | \n|||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n Balances without | \n\n \u00a0 | \n\n \u00a0 | \n\n Impact of | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption of ASC | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption | \n\n \u00a0 | \n||
| \n Fiscal Year Ended September 30, 2019 | \n\n \u00a0 | \n\n As Reported | \n\n \u00a0 | \n\n \u00a0 | \n\n Topic 606 | \n\n \u00a0 | \n\n \u00a0 | \n\n Higher/(Lower) | \n\n \u00a0 | \n|||
| \n Net income | \n\n \u00a0 | \n\n $ | \n\n 35,985 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 36,079 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n (94 | \n\n ) | \n
| \n (Increase) decrease in \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Inventories, net | \n\n \u00a0 | \n\n \u00a0 | \n\n (84,330 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n (83,712 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n (618 | \n\n ) | \n
| \n Prepaid expenses and other assets | \n\n \u00a0 | \n\n \u00a0 | \n\n (3,182 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n (1,748 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n (1,434 | \n\n ) | \n
| \n Increase (decrease) in \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Accounts payable | \n\n \u00a0 | \n\n \u00a0 | \n\n 8,701 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 8,735 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (34 | \n\n ) | \n
| \n Accrued expenses and other long-term liabilities | \n\n \u00a0 | \n\n $ | \n\n 4,731 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 2,551 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 2,180 | \n\n \u00a0 | \n
\u00a0
\nAccounting for Leases
\nIn February 2016, the FASB issued ASU 2016-02,\u00a0\u201cLeases (Topic 842)\u201d (\u201cASU 2016-02\u201d).\u00a0\u00a0This update requires organizations to recognize lease assets and lease liabilities on the balance sheet and also disclose key information about leasing arrangements. ASU 2016-02 was effective for annual reporting periods beginning on or after December\u00a015, 2018, and interim periods within those annual periods. Earlier application was permitted for all entities as of the beginning of an interim or annual period. Subsequent amendments to the standard provide an additional and optional transition method that allows entities to initially apply the new standard at the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption. An entity\u2019s reporting for the comparative periods presented in the financial statements in which it adopts the new leases standard will continue to be in accordance with current GAAP (ASC Topic 840) if the optional transition method is elected.
\n\u00a0
\nWe adopted ASU 2016-02 effective October 1, 2019 the first day of fiscal 2020. We elected the package of practical expedients available under the transition guidance within the new standard, which among other things, allowed us to carry forward the historical lease classification of our existing leases. Consequently, on adoption, we recognized additional operating lease liabilities of $44.0 million and right-of-use (\u201cROU\u201d) assets of $42.1 million. The new standard also provides practical expedients for an entity\u2019s ongoing accounting. We elected the short-term lease recognition exemption for all leases that qualify. As a result, for those leases that qualify, we will not recognize ROU assets or lease liabilities, and we did not recognize ROU assets or lease liabilities for existing short-term leases of those assets in transition. We also elected the practical expedient to not separate lease and non-lease components. We recognized a net after-tax cumulative effect adjustment to retained earnings of $0.6 million\u00a0as of the date of adoption. See Note 7 for additional information on our leases.
\n\u00a0
\nOther New Pronouncements
\n\u00a0
\nIn August 2018, the FASB issued ASU 2018-15, Customer\u2019s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract, which aligns the accounting for implementation costs incurred in a cloud computing arrangement that is a service contract with the guidance on capitalizing costs associated with developing or obtaining internal-use software. The guidance amends Accounting Standards Codification (ASC) 350 to include in its scope implementation costs of a cloud computing arrangement that is a service contract and clarifies that a customer should apply ASC 350 to determine which implementation costs should be capitalized in such a cloud computing arrangement. This guidance is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2019. We are currently evaluating the impact that this standard will have on our consolidated financial statements.
\n\u00a0
\nIn June 2016, the FASB issued ASU 2016-13, Financial Instruments \u2014 Credit Losses. ASU 2016-13 requires entities to report \u201cexpected\u201d credit losses on financial instruments and other commitments to extend credit rather than the current \u201cincurred loss\u201d model. These expected credit losses for financial assets held at the reporting date are to be based on historical experience, current conditions, and reasonable and supportable forecasts. This ASU will also require enhanced disclosures relating to significant estimates and judgments used in estimating credit losses, as well as the credit quality. This guidance is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2019. We are currently evaluating the impact that this standard will have on our consolidated financial statements.
"}]},{"name":"rpt:f-440","factDimensions":{"xbrl:concept":"us-gaap:RetainedEarningsAccumulatedDeficit","xbrl:period":"2018-10-02T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD","us-gaap:AdjustmentsForNewAccountingPronouncementsAxis":"us-gaap:AccountingStandardsUpdate201409Member","us-gaap:InitialApplicationPeriodCumulativeEffectTransitionAxis":"us-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member"},"factValues":[{"value":"399000","decimals":0}]},{"name":"rpt:f-441","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:AdjustmentsForNewAccountingPronouncementsAxis":"us-gaap:AccountingStandardsUpdate201409Member"},"factValues":[{"value":"\n\u00a0
\n\u00a0
\n| \n Consolidated Balance Sheet Line Items | \n\n \u00a0 | \n|||||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n Impact of changes in accounting policies | \n\n \u00a0 | \n|||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n Balances without | \n\n \u00a0 | \n\n \u00a0 | \n\n Impact of | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption of ASC | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption | \n\n \u00a0 | \n||
| \n September 30, 2019 | \n\n \u00a0 | \n\n As Reported | \n\n \u00a0 | \n\n \u00a0 | \n\n Topic 606 | \n\n \u00a0 | \n\n \u00a0 | \n\n Higher/(Lower) | \n\n \u00a0 | \n|||
| \n Inventories, net | \n\n \u00a0 | \n\n $ | \n\n 477,468 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 477,405 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 63 | \n\n \u00a0 | \n
| \n Prepaid expenses and other current assets | \n\n \u00a0 | \n\n \u00a0 | \n\n 10,206 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 7,681 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,525 | \n\n \u00a0 | \n
| \n \u00a0\u00a0\u00a0\u00a0 Accounts payable | \n\n \u00a0 | \n\n \u00a0 | \n\n 33,674 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 33,708 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (34 | \n\n ) | \n
| \n \u00a0\u00a0\u00a0\u00a0 Accrued expenses | \n\n \u00a0 | \n\n \u00a0 | \n\n 42,849 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 40,669 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,180 | \n\n \u00a0 | \n
| \n \u00a0\u00a0\u00a0\u00a0 Deferred tax liabilities | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,142 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,005 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 137 | \n\n \u00a0 | \n
| \n \u00a0\u00a0\u00a0\u00a0 Retained earnings | \n\n \u00a0 | \n\n $ | \n\n 202,455 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 202,150 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 305 | \n\n \u00a0 | \n
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Consolidated Statements of Operations Line Items | \n\n \u00a0 | \n|||||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n Impact of changes in accounting policies | \n\n \u00a0 | \n|||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n Balances without | \n\n \u00a0 | \n\n \u00a0 | \n\n Impact of | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption of ASC | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption | \n\n \u00a0 | \n||
| \n Fiscal Year Ended September 30, 2019 | \n\n \u00a0 | \n\n As Reported | \n\n \u00a0 | \n\n \u00a0 | \n\n Topic 606 | \n\n \u00a0 | \n\n \u00a0 | \n\n Higher/(Lower) | \n\n \u00a0 | \n|||
| \n Revenue | \n\n \u00a0 | \n\n $ | \n\n 1,237,153 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 1,237,899 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n (746 | \n\n ) | \n
| \n Cost of sales | \n\n \u00a0 | \n\n \u00a0 | \n\n 914,321 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 914,939 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (618 | \n\n ) | \n
| \n Income from operations | \n\n \u00a0 | \n\n \u00a0 | \n\n 60,532 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 60,660 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (128 | \n\n ) | \n
| \n \u00a0\u00a0\u00a0\u00a0 Income before income tax provision | \n\n \u00a0 | \n\n \u00a0 | \n\n 48,953 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 49,081 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (128 | \n\n ) | \n
| \n Income tax provision | \n\n \u00a0 | \n\n \u00a0 | \n\n 12,968 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 13,002 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (34 | \n\n ) | \n
| \n Net Income | \n\n \u00a0 | \n\n $ | \n\n 35,985 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 36,079 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n (94 | \n\n ) | \n
\u00a0
\n| \n Consolidated Statements of Cash flows | \n\n \u00a0 | \n|||||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n Impact of changes in accounting policies | \n\n \u00a0 | \n|||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n Balances without | \n\n \u00a0 | \n\n \u00a0 | \n\n Impact of | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption of ASC | \n\n \u00a0 | \n\n \u00a0 | \n\n adoption | \n\n \u00a0 | \n||
| \n Fiscal Year Ended September 30, 2019 | \n\n \u00a0 | \n\n As Reported | \n\n \u00a0 | \n\n \u00a0 | \n\n Topic 606 | \n\n \u00a0 | \n\n \u00a0 | \n\n Higher/(Lower) | \n\n \u00a0 | \n|||
| \n Net income | \n\n \u00a0 | \n\n $ | \n\n 35,985 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 36,079 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n (94 | \n\n ) | \n
| \n (Increase) decrease in \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Inventories, net | \n\n \u00a0 | \n\n \u00a0 | \n\n (84,330 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n (83,712 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n (618 | \n\n ) | \n
| \n Prepaid expenses and other assets | \n\n \u00a0 | \n\n \u00a0 | \n\n (3,182 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n (1,748 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n (1,434 | \n\n ) | \n
| \n Increase (decrease) in \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Accounts payable | \n\n \u00a0 | \n\n \u00a0 | \n\n 8,701 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 8,735 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (34 | \n\n ) | \n
| \n Accrued expenses and other long-term liabilities | \n\n \u00a0 | \n\n $ | \n\n 4,731 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 2,551 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 2,180 | \n\n \u00a0 | \n
4.\u00a0\u00a0ACCOUNTS RECEIVABLE:
\nTrade receivables consist primarily of receivables from financial institutions, which provide funding for customer boat financing and amounts due from financial institutions earned from arranging financing with our customers.\u00a0\u00a0We normally collect these receivables within 30\u00a0days of the sale.\u00a0\u00a0Trade receivables also include amounts due from customers on the sale of boats, parts, service, and storage.\u00a0\u00a0Amounts due from manufacturers represent receivables for various manufacturer programs and parts and service work performed pursuant to the manufacturers\u2019 warranties.
\nThe allowance for uncollectible receivables, which was not material to the consolidated financial statements as of September\u00a030, 2019 or 2020, was based on our consideration of customer payment practices, past transaction history with customers, and economic conditions.\u00a0\u00a0When an account becomes uncollectable, we expense it as a bad debt and we credit payments subsequently received to the bad debt expense account.\u00a0\u00a0We review the allowance for uncollectible receivables when an event or other change in circumstances results in a change in the estimate of the ultimate collectability of a specific account.
\nAccounts receivable, net consisted of the following as of September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n (Amounts in thousands) | \n\n \u00a0 | \n|||||
| \n Trade receivables, net | \n\n \u00a0 | \n\n $ | \n\n 29,750 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 31,289 | \n\n \u00a0 | \n
| \n Amounts due from manufacturers | \n\n \u00a0 | \n\n \u00a0 | \n\n 11,245 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 7,575 | \n\n \u00a0 | \n
| \n Other receivables | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,403 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,331 | \n\n \u00a0 | \n
| \n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 42,398 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 40,195 | \n\n \u00a0 | \n
Accounts receivable, net consisted of the following as of September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n (Amounts in thousands) | \n\n \u00a0 | \n|||||
| \n Trade receivables, net | \n\n \u00a0 | \n\n $ | \n\n 29,750 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 31,289 | \n\n \u00a0 | \n
| \n Amounts due from manufacturers | \n\n \u00a0 | \n\n \u00a0 | \n\n 11,245 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 7,575 | \n\n \u00a0 | \n
| \n Other receivables | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,403 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,331 | \n\n \u00a0 | \n
| \n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 42,398 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 40,195 | \n\n \u00a0 | \n
5.\u00a0\u00a0INVENTORIES:
\nInventories, net, consisted of the following as of September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n (Amounts in thousands) | \n\n \u00a0 | \n|||||
| \n New boats, motors, and trailers | \n\n \u00a0 | \n\n $ | \n\n 413,335 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 252,605 | \n\n \u00a0 | \n
| \n Used boats, motors, and trailers | \n\n \u00a0 | \n\n \u00a0 | \n\n 56,363 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 36,686 | \n\n \u00a0 | \n
| \n Parts, accessories, and other | \n\n \u00a0 | \n\n \u00a0 | \n\n 7,770 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 8,711 | \n\n \u00a0 | \n
| \n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 477,468 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 298,002 | \n\n \u00a0 | \n
Inventories, net, consisted of the following as of September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n (Amounts in thousands) | \n\n \u00a0 | \n|||||
| \n New boats, motors, and trailers | \n\n \u00a0 | \n\n $ | \n\n 413,335 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 252,605 | \n\n \u00a0 | \n
| \n Used boats, motors, and trailers | \n\n \u00a0 | \n\n \u00a0 | \n\n 56,363 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 36,686 | \n\n \u00a0 | \n
| \n Parts, accessories, and other | \n\n \u00a0 | \n\n \u00a0 | \n\n 7,770 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 8,711 | \n\n \u00a0 | \n
| \n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 477,468 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 298,002 | \n\n \u00a0 | \n
6.\u00a0\u00a0PROPERTY AND EQUIPMENT:
\nProperty and equipment consisted of the following as of September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n (Amounts in thousands) | \n\n \u00a0 | \n|||||
| \n Land | \n\n \u00a0 | \n\n $ | \n\n 56,549 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 55,549 | \n\n \u00a0 | \n
| \n Buildings and improvements | \n\n \u00a0 | \n\n \u00a0 | \n\n 112,892 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 115,394 | \n\n \u00a0 | \n
| \n Machinery and equipment | \n\n \u00a0 | \n\n \u00a0 | \n\n 36,368 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 39,416 | \n\n \u00a0 | \n
| \n Furniture and fixtures | \n\n \u00a0 | \n\n \u00a0 | \n\n 4,995 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 5,233 | \n\n \u00a0 | \n
| \n Vehicles | \n\n \u00a0 | \n\n \u00a0 | \n\n 11,292 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 12,612 | \n\n \u00a0 | \n
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 222,096 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 228,204 | \n\n \u00a0 | \n
| \n Accumulated depreciation and amortization | \n\n \u00a0 | \n\n \u00a0 | \n\n (77,798 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n (86,270 | \n\n ) | \n
| \n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 144,298 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 141,934 | \n\n \u00a0 | \n
\u00a0
\nDepreciation and amortization expense on property and equipment totaled approximately $10.7\u00a0million, $11.6\u00a0million, and $12.8 million for the fiscal years ended September 30, 2018, 2019, and 2020, respectively.
"}]},{"name":"rpt:f-518","factDimensions":{"xbrl:concept":"hzo:PropertyPlantAndEquipmentCostTableTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nProperty and equipment consisted of the following as of September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n (Amounts in thousands) | \n\n \u00a0 | \n|||||
| \n Land | \n\n \u00a0 | \n\n $ | \n\n 56,549 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 55,549 | \n\n \u00a0 | \n
| \n Buildings and improvements | \n\n \u00a0 | \n\n \u00a0 | \n\n 112,892 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 115,394 | \n\n \u00a0 | \n
| \n Machinery and equipment | \n\n \u00a0 | \n\n \u00a0 | \n\n 36,368 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 39,416 | \n\n \u00a0 | \n
| \n Furniture and fixtures | \n\n \u00a0 | \n\n \u00a0 | \n\n 4,995 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 5,233 | \n\n \u00a0 | \n
| \n Vehicles | \n\n \u00a0 | \n\n \u00a0 | \n\n 11,292 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 12,612 | \n\n \u00a0 | \n
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 222,096 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 228,204 | \n\n \u00a0 | \n
| \n Accumulated depreciation and amortization | \n\n \u00a0 | \n\n \u00a0 | \n\n (77,798 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n (86,270 | \n\n ) | \n
| \n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 144,298 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 141,934 | \n\n \u00a0 | \n
7.\u00a0\u00a0LEASES:
\n\u00a0
\nThe majority of leases that we enter into\u00a0are real estate leases.\u00a0We lease numerous facilities relating to our operations, including showrooms, display lots, service facilities, slips, offices, equipment and our corporate headquarters. Leases for real property have terms, including renewal options, ranging from\u00a0one to in excess of\u00a0twenty-five years. In addition, we lease certain charter boats for our yacht charter business. As of September 30, 2020, the weighted-average remaining lease term for our leases was approximately 10 years. All of our leases are classified as operating leases, which are included as ROU assets and operating lease liabilities in our consolidated balance sheet. For the fiscal years ended September 30, 2018, 2019, and 2020, operating lease expenses recorded in selling, general, and administrative expenses were approximately $11.8 million, $12.8 million, and $13.9 million, of which approximately $0.4 million, $0.4 million, and $0.5 million, related to variable lease expenses, respectively. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We do not have any significant leases that have not yet commenced but that create significant rights and obligations for us. We have elected the practical expedient under ASC 842 to not separate lease and nonlease components for all asset classes.
\n\u00a0
\nOur real estate and equipment leases often require that we pay maintenance in addition to rent. Additionally, our real estate leases generally require payment of real estate taxes and insurance. Maintenance, real estate taxes, and insurance payments are generally variable and based on actual costs incurred by the lessor. Therefore, these amounts are not included in the consideration of the contract when determining the ROU asset and lease liability, but are reflected as variable lease expenses.
\n\u00a0
\nA majority of our lease agreements include fixed rental payments. Certain of our lease agreements include fixed rental payments that are adjusted periodically by a fixed rate or changes in an index. The fixed payments, including the effects of changes in the fixed rate or amount, and renewal options reasonably certain to be exercised, are included in the measurement of the related lease liability. Most of our real estate leases include one or more options to renew, with renewal terms that can extend the lease term from one to five years or more. The exercise of lease renewal options is at our sole discretion. If it is reasonably certain that we will exercise such options, the periods covered by such options are included in the lease term and are recognized as part of our right of use assets and
\nlease liabilities. The depreciable life of assets and leasehold improvements are limited by the expected lease term, which includes renewal options reasonably certain to be exercised.
\n\u00a0
\nFor our incremental borrowing rate, we generally use a portfolio approach to determine the discount rate for leases with similar characteristics. We determine discount rates based upon our hypothetical credit rating, taking into consideration our short-term borrowing rates, and then adjusting as necessary for the appropriate lease term. As of September 30, 2020, the weighted-average discount rate used was approximately 7.3%.
\n\u00a0
\nAs of September 30, 2020, maturities of lease liabilities are summarized as follows:
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n (Amounts in thousands) | \n\n \u00a0 | \n|
| \n 2021 | \n\n \u00a0 | \n\n $ | \n\n 9,433 | \n\n \u00a0 | \n
| \n 2022 | \n\n \u00a0 | \n\n \u00a0 | \n\n 7,658 | \n\n \u00a0 | \n
| \n 2023 | \n\n \u00a0 | \n\n \u00a0 | \n\n 6,654 | \n\n \u00a0 | \n
| \n 2024 | \n\n \u00a0 | \n\n \u00a0 | \n\n 5,138 | \n\n \u00a0 | \n
| \n 2025 | \n\n \u00a0 | \n\n \u00a0 | \n\n 3,590 | \n\n \u00a0 | \n
| \n Thereafter | \n\n \u00a0 | \n\n \u00a0 | \n\n 27,768 | \n\n \u00a0 | \n
| \n Total lease payments | \n\n \u00a0 | \n\n \u00a0 | \n\n 60,241 | \n\n \u00a0 | \n
| \n Less: interest | \n\n \u00a0 | \n\n \u00a0 | \n\n (19,914 | \n\n ) | \n
| \n Present value of lease liabilities | \n\n \u00a0 | \n\n $ | \n\n 40,327 | \n\n \u00a0 | \n
\u00a0
\nUnder the previous lease accounting prior to the adoption of ASC 842, future minimum annual rental commitments for operating leases as of September 30, 2019 were as follows:
\n\u00a0
\n| \n \u00a0 | \n\n (Amounts \nin thousands) | \n\n \u00a0 | \n|
| \n 2020 | \n\n \u00a0 | \n\n 9,480 | \n\n \u00a0 | \n
| \n 2021 | \n\n \u00a0 | \n\n 8,148 | \n\n \u00a0 | \n
| \n 2022 | \n\n \u00a0 | \n\n 6,906 | \n\n \u00a0 | \n
| \n 2023 | \n\n \u00a0 | \n\n 6,329 | \n\n \u00a0 | \n
| \n 2024 | \n\n \u00a0 | \n\n 5,003 | \n\n \u00a0 | \n
| \n Thereafter | \n\n \u00a0 | \n\n 29,111 | \n\n \u00a0 | \n
| \n Total | \n\n $ | \n\n 64,977 | \n\n \u00a0 | \n
\u00a0
\nSupplemental cash flow information related to leases was as follows (amounts in thousands):
\n\u00a0
\n| \n \u00a0 | \n\n For the Year Ended | \n\n \u00a0 | \n|
| \n \u00a0 | \n\n September 30, | \n\n \u00a0 | \n|
| \n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n|
| \n Cash paid for amounts included in the measurement of lease liabilities: | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Operating cash flows from operating leases | \n\n $ | \n\n 10,209 | \n\n \u00a0 | \n
| \n Right-of-use assets obtained in exchange for lease obligations: | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Operating leases | \n\n $ | \n\n 3,811 | \n\n \u00a0 | \n
\u00a0
\nThe Company reports the amortization of ROU assets and the change in operating lease liabilities on a net basis in accrued expenses and other liabilities in the accompanying Consolidated Statements of Cash Flows.
\n\u00a0
\nAs of September 30, 2020, maturities of lease liabilities are summarized as follows:
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n (Amounts in thousands) | \n\n \u00a0 | \n|
| \n 2021 | \n\n \u00a0 | \n\n $ | \n\n 9,433 | \n\n \u00a0 | \n
| \n 2022 | \n\n \u00a0 | \n\n \u00a0 | \n\n 7,658 | \n\n \u00a0 | \n
| \n 2023 | \n\n \u00a0 | \n\n \u00a0 | \n\n 6,654 | \n\n \u00a0 | \n
| \n 2024 | \n\n \u00a0 | \n\n \u00a0 | \n\n 5,138 | \n\n \u00a0 | \n
| \n 2025 | \n\n \u00a0 | \n\n \u00a0 | \n\n 3,590 | \n\n \u00a0 | \n
| \n Thereafter | \n\n \u00a0 | \n\n \u00a0 | \n\n 27,768 | \n\n \u00a0 | \n
| \n Total lease payments | \n\n \u00a0 | \n\n \u00a0 | \n\n 60,241 | \n\n \u00a0 | \n
| \n Less: interest | \n\n \u00a0 | \n\n \u00a0 | \n\n (19,914 | \n\n ) | \n
| \n Present value of lease liabilities | \n\n \u00a0 | \n\n $ | \n\n 40,327 | \n\n \u00a0 | \n
\u00a0
"}]},{"name":"rpt:f-549","factDimensions":{"xbrl:concept":"us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"9433000","decimals":-3}]},{"name":"rpt:f-550","factDimensions":{"xbrl:concept":"us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueYearTwo","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"7658000","decimals":-3}]},{"name":"rpt:f-551","factDimensions":{"xbrl:concept":"us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueYearThree","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"6654000","decimals":-3}]},{"name":"rpt:f-552","factDimensions":{"xbrl:concept":"us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueYearFour","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"5138000","decimals":-3}]},{"name":"rpt:f-553","factDimensions":{"xbrl:concept":"us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueYearFive","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"3590000","decimals":-3}]},{"name":"rpt:f-554","factDimensions":{"xbrl:concept":"us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"27768000","decimals":-3}]},{"name":"rpt:f-555","factDimensions":{"xbrl:concept":"us-gaap:LesseeOperatingLeaseLiabilityPaymentsDue","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"60241000","decimals":-3}]},{"name":"rpt:f-556","factDimensions":{"xbrl:concept":"us-gaap:LesseeOperatingLeaseLiabilityUndiscountedExcessAmount","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"19914000","decimals":-3}]},{"name":"rpt:f-557","factDimensions":{"xbrl:concept":"us-gaap:OperatingLeaseLiability","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"40327000","decimals":-3}]},{"name":"rpt:f-558","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nUnder the previous lease accounting prior to the adoption of ASC 842, future minimum annual rental commitments for operating leases as of September 30, 2019 were as follows:
\n\u00a0
\n| \n \u00a0 | \n\n (Amounts \nin thousands) | \n\n \u00a0 | \n|
| \n 2020 | \n\n \u00a0 | \n\n 9,480 | \n\n \u00a0 | \n
| \n 2021 | \n\n \u00a0 | \n\n 8,148 | \n\n \u00a0 | \n
| \n 2022 | \n\n \u00a0 | \n\n 6,906 | \n\n \u00a0 | \n
| \n 2023 | \n\n \u00a0 | \n\n 6,329 | \n\n \u00a0 | \n
| \n 2024 | \n\n \u00a0 | \n\n 5,003 | \n\n \u00a0 | \n
| \n Thereafter | \n\n \u00a0 | \n\n 29,111 | \n\n \u00a0 | \n
| \n Total | \n\n $ | \n\n 64,977 | \n\n \u00a0 | \n
\u00a0
"}]},{"name":"rpt:f-559","factDimensions":{"xbrl:concept":"us-gaap:OperatingLeasesFutureMinimumPaymentsDueCurrent","xbrl:period":"2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"9480000","decimals":-3}]},{"name":"rpt:f-560","factDimensions":{"xbrl:concept":"us-gaap:OperatingLeasesFutureMinimumPaymentsDueInTwoYears","xbrl:period":"2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"8148000","decimals":-3}]},{"name":"rpt:f-561","factDimensions":{"xbrl:concept":"us-gaap:OperatingLeasesFutureMinimumPaymentsDueInThreeYears","xbrl:period":"2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"6906000","decimals":-3}]},{"name":"rpt:f-562","factDimensions":{"xbrl:concept":"us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFourYears","xbrl:period":"2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"6329000","decimals":-3}]},{"name":"rpt:f-563","factDimensions":{"xbrl:concept":"us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFiveYears","xbrl:period":"2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"5003000","decimals":-3}]},{"name":"rpt:f-564","factDimensions":{"xbrl:concept":"us-gaap:OperatingLeasesFutureMinimumPaymentsDueThereafter","xbrl:period":"2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"29111000","decimals":-3}]},{"name":"rpt:f-565","factDimensions":{"xbrl:concept":"us-gaap:OperatingLeasesFutureMinimumPaymentsDue","xbrl:period":"2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"64977000","decimals":-3}]},{"name":"rpt:f-566","factDimensions":{"xbrl:concept":"hzo:ScheduleOfSupplementalCashFlowDisclosuresRelatedToLeasesTableTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nSupplemental cash flow information related to leases was as follows (amounts in thousands):
\n\u00a0
\n| \n \u00a0 | \n\n For the Year Ended | \n\n \u00a0 | \n|
| \n \u00a0 | \n\n September 30, | \n\n \u00a0 | \n|
| \n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n|
| \n Cash paid for amounts included in the measurement of lease liabilities: | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Operating cash flows from operating leases | \n\n $ | \n\n 10,209 | \n\n \u00a0 | \n
| \n Right-of-use assets obtained in exchange for lease obligations: | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Operating leases | \n\n $ | \n\n 3,811 | \n\n \u00a0 | \n
\u00a0
"}]},{"name":"rpt:f-567","factDimensions":{"xbrl:concept":"us-gaap:OperatingLeasePayments","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"10209000","decimals":-3}]},{"name":"rpt:f-568","factDimensions":{"xbrl:concept":"us-gaap:RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"3811000","decimals":-3}]},{"name":"rpt:f-569","factDimensions":{"xbrl:concept":"hzo:GoodwillIntangibleAssetsAndOtherLongTermAssetsDisclosureTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\n8.\u00a0\u00a0GOODWILL, INTANGIBLE ASSETS, AND OTHER LONG-TERM ASSETS:
\nIn total, current and previous acquisitions have resulted in the recording of $64.1 million and $84.3 million in goodwill and other intangible assets as of September 30, 2019 and 2020, respectively. Our previous acquisitions and fiscal 2020 acquisitions have not resulted in recording any significant identifiable intangible assets besides goodwill. See Note 2 of the Notes to Consolidated Financial Statements for more information about our annual impairment tests of goodwill and recent acquisitions. Other long-term assets as of September 30, 2019 and 2020 of $7.1 million and $7.8 million, respectively, are primarily long-term deposits and other long-term investments.
\n\u00a0
"}]},{"name":"rpt:f-570","factDimensions":{"xbrl:concept":"us-gaap:IntangibleAssetsNetIncludingGoodwill","xbrl:period":"2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"64100000","decimals":-5}]},{"name":"rpt:f-571","factDimensions":{"xbrl:concept":"us-gaap:IntangibleAssetsNetIncludingGoodwill","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"84300000","decimals":-5}]},{"name":"rpt:f-572","factDimensions":{"xbrl:concept":"us-gaap:OtherAssetsNoncurrent","xbrl:period":"2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD","us-gaap:InvestmentTypeAxis":"hzo:LongTermDepositsAndOtherLongTermInvestmentsMember"},"factValues":[{"value":"7100000","decimals":-5}]},{"name":"rpt:f-573","factDimensions":{"xbrl:concept":"us-gaap:OtherAssetsNoncurrent","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD","us-gaap:InvestmentTypeAxis":"hzo:LongTermDepositsAndOtherLongTermInvestmentsMember"},"factValues":[{"value":"7800000","decimals":-5}]},{"name":"rpt:f-574","factDimensions":{"xbrl:concept":"us-gaap:DebtDisclosureTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\n9.\u00a0\u00a0SHORT-TERM BORROWINGS AND LONG-TERM DEBT:
\n\u00a0
\nShort-term Borrowings
\nIn May 2020, we entered into a Loan and Security Agreement (the \u201cCredit Facility\u201d), with Wells Fargo Commercial Distribution Finance LLC, M&T Bank, Bank of the West, and Truist Bank. The Credit Facility provides the Company a line of credit with asset based borrowing availability of up to $440 million for working capital and inventory financing, with the amount permissible pursuant to a borrowing base formula. The Credit Facility has a term and expires in , subject to extension for two one-year periods, with lender approval.
\nThe Credit Facility has certain financial covenants as specified in the agreement.\u00a0\u00a0The covenants include provisions that our leverage ratio must not exceed 2.75 to 1.0 and that our current ratio must be greater than 1.2 to 1.0. The interest rate for amounts outstanding under the Credit Facility is 345 basis points plus the greater of 75 basis points or the one-month LIBOR. There is an unused line fee of ten basis points on the unused portion of the Credit Facility.
\nNew inventory borrowing eligibility will generally mature 1,080\u00a0days from the original invoice date. Used inventory borrowing eligibility will generally mature 361\u00a0days from the date we acquire the used inventory. The collateral for the Credit Facility is all of our personal property with certain limited exceptions.\u00a0\u00a0None of our real estate has been pledged for collateral for the Credit Facility.
\nAs of September 30, 2020, our indebtedness associated with financing our inventory and working capital needs totaled approximately $144.4 million. As of September 30, 2019 and 2020, the interest rate on the outstanding short-term borrowings was approximately 5.6% and 4.2%, respectively.\u00a0\u00a0As of September 30, 2020, our additional available borrowings under our Credit Facility were approximately $82.0 million based upon the outstanding borrowing base availability.
\nAs is common in our industry, we receive interest assistance directly from boat manufacturers, including Brunswick.\u00a0\u00a0The interest assistance programs vary by manufacturer, but generally include periods of free financing or reduced interest rate programs.\u00a0\u00a0The interest assistance may be paid directly to us or our lender depending on the arrangements the manufacturer has established.\u00a0\u00a0We classify interest assistance received from manufacturers as a reduction of inventory cost and related cost of sales as opposed to netting the assistance against our interest expense incurred with our lenders.
\nThe availability and costs of borrowed funds can adversely affect our ability to obtain adequate boat inventory and the holding costs of that inventory as well as the ability and willingness of our customers to finance boat purchases. However, we rely on our Credit Facility to purchase our inventory of boats.\u00a0\u00a0The aging of our inventory limits our borrowing capacity as defined curtailments reduce the allowable advance rate as our inventory ages.\u00a0\u00a0Our access to funds under our Credit Facility also depends upon the ability of our lenders to meet their funding commitments, particularly if they experience shortages of capital or experience excessive volumes of borrowing requests from others during a short period of time.\u00a0\u00a0Unfavorable economic conditions, weak consumer spending, turmoil in the credit markets, and lender difficulties, among other potential reasons, could interfere with our ability to utilize our Credit Facility to fund our operations.\u00a0\u00a0Any inability to utilize our Credit Facility could require us to seek other sources of funding to repay amounts outstanding under the credit agreements or replace or supplement our credit agreements, which may not be possible at all or under commercially reasonable terms.
\nSimilarly, decreases in the availability of credit and increases in the cost of credit adversely affect the ability of our customers to purchase boats from us and thereby adversely affect our ability to sell our products and impact the profitability of our finance and insurance activities.
\n\u00a0
\nLong-term Debt
\nAs of September 30, 2020 we had approximately $7.4 million under a mortgage facility secured by one of our retail locations. The interest rate for amounts outstanding under the mortgage facility is prime minus 100 basis points with a floor of 2.00%. As of September 30, 2020, the interest rate on amounts outstanding was 2.25%. The mortgage facility requires monthly principal and interest payments with a balloon payment of\u00a0approximately $4.0 million\u00a0due . Prepayment of the mortgage facility may be made in whole or in part at any time without premium or penalty. The current portion of long-term debt of approximately $507,000 was recorded in accrued expenses as of September 30, 2020.\u00a0\u00a0
\n\u00a0
"}]},{"name":"rpt:f-575","factDimensions":{"xbrl:concept":"us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity","xbrl:period":"2020-06-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD","us-gaap:CreditFacilityAxis":"us-gaap:SecuredDebtMember","us-gaap:DebtInstrumentAxis":"hzo:CreditFacilityMember"},"factValues":[{"value":"440000000"}]},{"name":"rpt:f-576","factDimensions":{"xbrl:concept":"us-gaap:LineOfCreditFacilityDescription","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:CreditFacilityAxis":"us-gaap:SecuredDebtMember","us-gaap:DebtInstrumentAxis":"hzo:CreditFacilityMember"},"factValues":[{"value":"The Credit Facility has a three-year term and expires in May 2023, subject to extension for two one-year periods, with lender approval"}]},{"name":"rpt:f-577","factDimensions":{"xbrl:concept":"us-gaap:DebtInstrumentCovenantCompliance","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:CreditFacilityAxis":"us-gaap:SecuredDebtMember","us-gaap:DebtInstrumentAxis":"hzo:CreditFacilityMember"},"factValues":[{"value":"The covenants include provisions that our leverage ratio must not exceed 2.75 to 1.0 and that our current ratio must be greater than 1.2 to 1.0."}]},{"name":"rpt:f-578","factDimensions":{"xbrl:concept":"hzo:CovenantsCreditFacilityLeverageRatio","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:DebtInstrumentAxis":"hzo:CreditFacilityMember","us-gaap:CreditFacilityAxis":"us-gaap:SecuredDebtMember"},"factValues":[{"value":"0.0275"}]},{"name":"rpt:f-579","factDimensions":{"xbrl:concept":"hzo:CurrentRatio","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","srt:RangeAxis":"srt:MinimumMember"},"factValues":[{"value":"0.012"}]},{"name":"rpt:f-580","factDimensions":{"xbrl:concept":"us-gaap:DebtInstrumentInterestRateTerms","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:CreditFacilityAxis":"us-gaap:SecuredDebtMember","us-gaap:DebtInstrumentAxis":"hzo:CreditFacilityMember"},"factValues":[{"value":"The interest rate for amounts outstanding under the Credit Facility is 345 basis points plus the greater of 75 basis points or the one-month LIBOR."}]},{"name":"rpt:f-581","factDimensions":{"xbrl:concept":"us-gaap:DebtInstrumentBasisSpreadOnVariableRate1","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:DebtInstrumentAxis":"hzo:CreditFacilityMember"},"factValues":[{"value":"0.0345","decimals":4}]},{"name":"rpt:f-582","factDimensions":{"xbrl:concept":"us-gaap:DebtInstrumentBasisSpreadOnVariableRate1","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:CreditFacilityAxis":"us-gaap:SecuredDebtMember","us-gaap:DebtInstrumentAxis":"hzo:CreditFacilityMember"},"factValues":[{"value":"0.0075","decimals":4}]},{"name":"rpt:f-583","factDimensions":{"xbrl:concept":"us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:CreditFacilityAxis":"us-gaap:SecuredDebtMember","us-gaap:DebtInstrumentAxis":"hzo:CreditFacilityMember"},"factValues":[{"value":"0.0010","decimals":4}]},{"name":"rpt:f-584","factDimensions":{"xbrl:concept":"hzo:UsedInventoryFromUsedInventoryDatePeriod","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:CreditFacilityAxis":"us-gaap:SecuredDebtMember","us-gaap:DebtInstrumentAxis":"hzo:CreditFacilityMember"},"factValues":[{"value":"P361D"}]},{"name":"rpt:f-585","factDimensions":{"xbrl:concept":"us-gaap:PledgedAssetsNotSeparatelyReportedRealEstate","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD","us-gaap:DebtInstrumentAxis":"hzo:CreditFacilityMember","us-gaap:CreditFacilityAxis":"us-gaap:SecuredDebtMember"},"factValues":[{"value":"0"}]},{"name":"rpt:f-586","factDimensions":{"xbrl:concept":"us-gaap:LineOfCredit","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD","us-gaap:CreditFacilityAxis":"us-gaap:SecuredDebtMember"},"factValues":[{"value":"144400000","decimals":-5}]},{"name":"rpt:f-587","factDimensions":{"xbrl:concept":"us-gaap:LineOfCreditFacilityInterestRateDuringPeriod","xbrl:period":"2018-10-01T00:00:00/2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:CreditFacilityAxis":"us-gaap:SecuredDebtMember"},"factValues":[{"value":"0.056","decimals":3}]},{"name":"rpt:f-588","factDimensions":{"xbrl:concept":"us-gaap:LineOfCreditFacilityInterestRateDuringPeriod","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:CreditFacilityAxis":"us-gaap:SecuredDebtMember"},"factValues":[{"value":"0.042","decimals":3}]},{"name":"rpt:f-589","factDimensions":{"xbrl:concept":"hzo:InventoryFinancingAdditionalAvailableBorrowings","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"82000000.0","decimals":-5}]},{"name":"rpt:f-590","factDimensions":{"xbrl:concept":"us-gaap:LongTermDebtNoncurrent","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD","us-gaap:LongtermDebtTypeAxis":"us-gaap:MortgagesMember"},"factValues":[{"value":"7400000","decimals":-5}]},{"name":"rpt:f-591","factDimensions":{"xbrl:concept":"us-gaap:DebtInstrumentDescriptionOfVariableRateBasis","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:LongtermDebtTypeAxis":"us-gaap:MortgagesMember"},"factValues":[{"value":"prime minus 100 basis points with a floor of 2.00%."}]},{"name":"rpt:f-592","factDimensions":{"xbrl:concept":"us-gaap:DebtInstrumentBasisSpreadOnVariableRate1","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:LongtermDebtTypeAxis":"us-gaap:MortgagesMember","us-gaap:VariableRateAxis":"us-gaap:PrimeRateMember"},"factValues":[{"value":"0.0100","decimals":4}]},{"name":"rpt:f-593","factDimensions":{"xbrl:concept":"us-gaap:DebtInstrumentInterestRateStatedPercentage","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:LongtermDebtTypeAxis":"us-gaap:MortgagesMember","us-gaap:FinancialInstrumentAxis":"us-gaap:InterestRateFloorMember"},"factValues":[{"value":"0.0200","decimals":4}]},{"name":"rpt:f-594","factDimensions":{"xbrl:concept":"us-gaap:DebtInstrumentInterestRateDuringPeriod","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:LongtermDebtTypeAxis":"us-gaap:MortgagesMember"},"factValues":[{"value":"0.0225","decimals":4}]},{"name":"rpt:f-595","factDimensions":{"xbrl:concept":"us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD","us-gaap:LongtermDebtTypeAxis":"us-gaap:MortgagesMember"},"factValues":[{"value":"4000000.0","decimals":-5}]},{"name":"rpt:f-596","factDimensions":{"xbrl:concept":"us-gaap:LongTermDebtCurrent","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD","us-gaap:BalanceSheetLocationAxis":"us-gaap:AccruedLiabilitiesMember","us-gaap:LongtermDebtTypeAxis":"us-gaap:MortgagesMember"},"factValues":[{"value":"507000","decimals":0}]},{"name":"rpt:f-597","factDimensions":{"xbrl:concept":"us-gaap:IncomeTaxDisclosureTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\n10.\u00a0\u00a0INCOME TAXES:
\n\u00a0
\nEarnings before income taxes consisted of the following components for the fiscal years ended September 30,
\n\u00a0\u00a0\u00a0\u00a0\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2018 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n|||
| \n \u00a0 | \n\n \u00a0 | \n\n (Amounts in thousands) | \n\n \u00a0 | \n|||||||||
| \n Earnings before income taxes | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n United States | \n\n \u00a0 | \n\n $ | \n\n 53,280 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 46,986 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 94,854 | \n\n \u00a0 | \n
| \n Other | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,967 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,586 | \n\n \u00a0 | \n
| \n Total | \n\n \u00a0 | \n\n $ | \n\n 53,280 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 48,953 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 97,440 | \n\n \u00a0 | \n
\u00a0
\nThe components of our provision from income taxes consisted of the following for the fiscal years ended September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2018 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n|||
| \n \u00a0 | \n\n \u00a0 | \n\n (Amounts in thousands) | \n\n \u00a0 | \n|||||||||
| \n Current provision: | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Federal | \n\n \u00a0 | \n\n $ | \n\n 8,055 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 7,933 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 17,654 | \n\n \u00a0 | \n
| \n Foreign | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 516 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 654 | \n\n \u00a0 | \n
| \n State | \n\n \u00a0 | \n\n \u00a0 | \n\n 195 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 135 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,365 | \n\n \u00a0 | \n
| \n Total current provision | \n\n \u00a0 | \n\n $ | \n\n 8,250 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 8,584 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 19,673 | \n\n \u00a0 | \n
| \n Deferred provision: | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Federal | \n\n \u00a0 | \n\n \u00a0 | \n\n 4,205 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,285 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,262 | \n\n \u00a0 | \n
| \n Foreign | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n
| \n State | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,513 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,099 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 871 | \n\n \u00a0 | \n
| \n Total deferred provision | \n\n \u00a0 | \n\n \u00a0 | \n\n 5,718 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 4,384 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 3,133 | \n\n \u00a0 | \n
| \n Total income tax provision | \n\n \u00a0 | \n\n $ | \n\n 13,968 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 12,968 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 22,806 | \n\n \u00a0 | \n
\u00a0
\nOn December 22, 2017, the Tax Act was enacted which, among a number of its provisions, lowered the U.S. corporate tax rate from 35% to 21%, effective January 1, 2018. The Company\u2019s blended statutory tax rate for fiscal year 2018 was approximately 24.5% as a result of the change in statutory rates. For fiscal year 2018, we recorded a non-cash adjustment to income tax expense of $805,000 for the remeasurement of deferred taxes on the enactment date.
\n\u00a0
\nBelow is a reconciliation of the statutory federal income tax rate to our effective tax rate for the fiscal years ended September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2018 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n|||
| \n Federal tax provision | \n\n \u00a0 | \n\n \u00a0 | \n\n 24.5 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 21.0 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 21.0 | \n\n % | \n
| \n State taxes, net of federal effect | \n\n \u00a0 | \n\n \u00a0 | \n\n 4.1 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 4.1 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 3.1 | \n\n % | \n
| \n Stock based compensation | \n\n \u00a0 | \n\n \u00a0 | \n\n (2.0 | \n\n )% | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (0.5 | \n\n )% | \n
| \n Valuation allowance | \n\n \u00a0 | \n\n \u00a0 | \n\n (0.3 | \n\n )% | \n\n \u00a0 | \n\n \u00a0 | \n\n (0.1 | \n\n )% | \n\n \u00a0 | \n\n \u00a0 | \n\n (0.2 | \n\n )% | \n
| \n Foreign rate differential | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 0.2 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 0.1 | \n\n % | \n
| \n Effect of Federal Tax Reform | \n\n \u00a0 | \n\n \u00a0 | \n\n 1.5 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n
| \n Other | \n\n \u00a0 | \n\n \u00a0 | \n\n (1.6 | \n\n )% | \n\n \u00a0 | \n\n \u00a0 | \n\n 1.3 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n (0.1 | \n\n )% | \n
| \n Effective tax rate | \n\n \u00a0 | \n\n \u00a0 | \n\n 26.2 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 26.5 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 23.4 | \n\n % | \n
\u00a0
\nDeferred income taxes reflect the impact of temporary differences between the amount of assets and liabilities recognized for financial reporting purposes and such amounts recognized for income tax purposes.\u00a0\u00a0The tax effects of these temporary differences representing the components of deferred tax assets as of September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n (Amounts in thousands) | \n\n \u00a0 | \n|||||
| \n Deferred tax assets: | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Inventories | \n\n \u00a0 | \n\n $ | \n\n 774 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 808 | \n\n \u00a0 | \n
| \n Operating lease right-of-use assets | \n\n \u00a0 | \n\n \u00a0 | \n\n - | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 9,926 | \n\n \u00a0 | \n
| \n Accrued expenses | \n\n \u00a0 | \n\n \u00a0 | \n\n 492 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 640 | \n\n \u00a0 | \n
| \n Stock based compensation | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,388 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,170 | \n\n \u00a0 | \n
| \n Tax loss carryforwards | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,316 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 810 | \n\n \u00a0 | \n
| \n Other | \n\n \u00a0 | \n\n \u00a0 | \n\n 562 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 268 | \n\n \u00a0 | \n
| \n Valuation allowance | \n\n \u00a0 | \n\n \u00a0 | \n\n (164 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n - | \n\n \u00a0 | \n
| \n Total long-term deferred tax assets | \n\n \u00a0 | \n\n \u00a0 | \n\n 6,368 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 14,622 | \n\n \u00a0 | \n
| \n Deferred tax liabilities: | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Depreciation and amortization | \n\n \u00a0 | \n\n \u00a0 | \n\n (7,510 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n (9,095 | \n\n ) | \n
| \n Operating lease liabilities | \n\n \u00a0 | \n\n \u00a0 | \n\n - | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (10,036 | \n\n ) | \n
| \n Total long-term deferred tax liabilities | \n\n \u00a0 | \n\n $ | \n\n (7,510 | \n\n ) | \n\n \u00a0 | \n\n $ | \n\n (19,131 | \n\n ) | \n
| \n Net deferred tax liabilities | \n\n \u00a0 | \n\n $ | \n\n (1,142 | \n\n ) | \n\n \u00a0 | \n\n $ | \n\n (4,509 | \n\n ) | \n
\u00a0
\nPursuant to ASC 740, we must consider all positive and negative evidence regarding the realization of deferred tax assets.\u00a0\u00a0ASC 740 provides four possible sources of taxable income to realize deferred tax assets: 1) taxable income in prior carryback years, 2) reversals of existing deferred tax liabilities, 3) tax planning strategies and 4) projected future taxable income.\u00a0\u00a0As of September 30, 2020, we have no available taxable income in prior carryback years, limited reversals of existing deferred tax liabilities or prudent and feasible tax planning strategies.\u00a0\u00a0Therefore, the recoverability of our deferred tax assets is dependent upon generating future taxable income.
\n\u00a0\u00a0
\nThe Company included a $164,000 reversal of its outstanding valuation allowance due to the likelihood that the Company would use these deferred tax assets prior to the statute of limitations.\u00a0\u00a0The valuation allowance related to net operating loss (NOL) carryforwards in jurisdictions where the Company has expanded operations.\u00a0\u00a0
\nAs of September 30, 2017, we no longer had federal NOL carryforwards for federal income tax purposes. As of September 30, 2020, the Company has state NOL carryforwards of approximately $15.4 million for state income tax purposes, which resulted in a deferred tax asset of $0.8 million, and expire at various dates from 2029 through 2032.\u00a0\u00a0\u00a0\u00a0
\nSignificant judgment is required in evaluating our uncertain tax positions. Although we believe our tax return positions are sustainable, we recognize tax benefits from uncertain tax positions in the financial statements only when it is more likely than not that the positions will not be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits and a consideration of the relevant taxing authority\u2019s administrative practices and precedents. To the extent that the final tax outcome of these matters is different than the amounts recorded, such differences will impact the provision for income taxes
\nin the period in which such determination is made. The provision for income taxes includes the impact of reserve provisions and changes to reserves that are considered appropriate, as well as the related net interest and penalties.
\nWe are subject to tax by both federal and state taxing authorities.\u00a0\u00a0Until the respective statutes of limitations expire, we are subject to income tax audits in the jurisdictions in which we operate.\u00a0\u00a0We are no longer subject to U.S. federal tax assessments for fiscal years prior to 2015, we are not subject to assessments prior to the 2014 fiscal year for the majority of the State jurisdictions and we are not subject to assessments prior to the 2014 calendar year for the majority of the foreign jurisdictions.
\n\u00a0
"}]},{"name":"rpt:f-598","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nEarnings before income taxes consisted of the following components for the fiscal years ended September 30,
\n\u00a0\u00a0\u00a0\u00a0\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2018 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n|||
| \n \u00a0 | \n\n \u00a0 | \n\n (Amounts in thousands) | \n\n \u00a0 | \n|||||||||
| \n Earnings before income taxes | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n United States | \n\n \u00a0 | \n\n $ | \n\n 53,280 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 46,986 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 94,854 | \n\n \u00a0 | \n
| \n Other | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,967 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,586 | \n\n \u00a0 | \n
| \n Total | \n\n \u00a0 | \n\n $ | \n\n 53,280 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 48,953 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 97,440 | \n\n \u00a0 | \n
The components of our provision from income taxes consisted of the following for the fiscal years ended September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2018 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n|||
| \n \u00a0 | \n\n \u00a0 | \n\n (Amounts in thousands) | \n\n \u00a0 | \n|||||||||
| \n Current provision: | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Federal | \n\n \u00a0 | \n\n $ | \n\n 8,055 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 7,933 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 17,654 | \n\n \u00a0 | \n
| \n Foreign | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 516 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 654 | \n\n \u00a0 | \n
| \n State | \n\n \u00a0 | \n\n \u00a0 | \n\n 195 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 135 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,365 | \n\n \u00a0 | \n
| \n Total current provision | \n\n \u00a0 | \n\n $ | \n\n 8,250 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 8,584 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 19,673 | \n\n \u00a0 | \n
| \n Deferred provision: | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Federal | \n\n \u00a0 | \n\n \u00a0 | \n\n 4,205 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,285 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,262 | \n\n \u00a0 | \n
| \n Foreign | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n
| \n State | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,513 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,099 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 871 | \n\n \u00a0 | \n
| \n Total deferred provision | \n\n \u00a0 | \n\n \u00a0 | \n\n 5,718 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 4,384 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 3,133 | \n\n \u00a0 | \n
| \n Total income tax provision | \n\n \u00a0 | \n\n $ | \n\n 13,968 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 12,968 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 22,806 | \n\n \u00a0 | \n
Below is a reconciliation of the statutory federal income tax rate to our effective tax rate for the fiscal years ended September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2018 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n|||
| \n Federal tax provision | \n\n \u00a0 | \n\n \u00a0 | \n\n 24.5 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 21.0 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 21.0 | \n\n % | \n
| \n State taxes, net of federal effect | \n\n \u00a0 | \n\n \u00a0 | \n\n 4.1 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 4.1 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 3.1 | \n\n % | \n
| \n Stock based compensation | \n\n \u00a0 | \n\n \u00a0 | \n\n (2.0 | \n\n )% | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (0.5 | \n\n )% | \n
| \n Valuation allowance | \n\n \u00a0 | \n\n \u00a0 | \n\n (0.3 | \n\n )% | \n\n \u00a0 | \n\n \u00a0 | \n\n (0.1 | \n\n )% | \n\n \u00a0 | \n\n \u00a0 | \n\n (0.2 | \n\n )% | \n
| \n Foreign rate differential | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 0.2 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 0.1 | \n\n % | \n
| \n Effect of Federal Tax Reform | \n\n \u00a0 | \n\n \u00a0 | \n\n 1.5 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n
| \n Other | \n\n \u00a0 | \n\n \u00a0 | \n\n (1.6 | \n\n )% | \n\n \u00a0 | \n\n \u00a0 | \n\n 1.3 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n (0.1 | \n\n )% | \n
| \n Effective tax rate | \n\n \u00a0 | \n\n \u00a0 | \n\n 26.2 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 26.5 | \n\n % | \n\n \u00a0 | \n\n \u00a0 | \n\n 23.4 | \n\n % | \n
Deferred income taxes reflect the impact of temporary differences between the amount of assets and liabilities recognized for financial reporting purposes and such amounts recognized for income tax purposes.\u00a0\u00a0The tax effects of these temporary differences representing the components of deferred tax assets as of September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n||
| \n \u00a0 | \n\n \u00a0 | \n\n (Amounts in thousands) | \n\n \u00a0 | \n|||||
| \n Deferred tax assets: | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Inventories | \n\n \u00a0 | \n\n $ | \n\n 774 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 808 | \n\n \u00a0 | \n
| \n Operating lease right-of-use assets | \n\n \u00a0 | \n\n \u00a0 | \n\n - | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 9,926 | \n\n \u00a0 | \n
| \n Accrued expenses | \n\n \u00a0 | \n\n \u00a0 | \n\n 492 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 640 | \n\n \u00a0 | \n
| \n Stock based compensation | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,388 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,170 | \n\n \u00a0 | \n
| \n Tax loss carryforwards | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,316 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 810 | \n\n \u00a0 | \n
| \n Other | \n\n \u00a0 | \n\n \u00a0 | \n\n 562 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 268 | \n\n \u00a0 | \n
| \n Valuation allowance | \n\n \u00a0 | \n\n \u00a0 | \n\n (164 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n - | \n\n \u00a0 | \n
| \n Total long-term deferred tax assets | \n\n \u00a0 | \n\n \u00a0 | \n\n 6,368 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 14,622 | \n\n \u00a0 | \n
| \n Deferred tax liabilities: | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Depreciation and amortization | \n\n \u00a0 | \n\n \u00a0 | \n\n (7,510 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n (9,095 | \n\n ) | \n
| \n Operating lease liabilities | \n\n \u00a0 | \n\n \u00a0 | \n\n - | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (10,036 | \n\n ) | \n
| \n Total long-term deferred tax liabilities | \n\n \u00a0 | \n\n $ | \n\n (7,510 | \n\n ) | \n\n \u00a0 | \n\n $ | \n\n (19,131 | \n\n ) | \n
| \n Net deferred tax liabilities | \n\n \u00a0 | \n\n $ | \n\n (1,142 | \n\n ) | \n\n \u00a0 | \n\n $ | \n\n (4,509 | \n\n ) | \n
11.\u00a0\u00a0SHAREHOLDERS\u2019 EQUITY:
\nIn March 2020, our Board of Directors approved a new share repurchase plan allowing the Company to repurchase up to 10 million shares of our common stock through March 2022.\u00a0\u00a0Under the plan, we may buy back common stock from time to time in the open market or in privately negotiated blocks, dependent upon various factors, including price and availability of the shares, and general market conditions.\u00a0\u00a0Through September\u00a030, 2020 we had purchased an aggregate of 6,267,021 shares of common stock under the current and historical share repurchase plans for an aggregate purchase price of approximately $103.6 million.\u00a0\u00a0As of September 30, 2020, approximately 9.9 million shares remained available for future purchases under the share repurchase program.
"}]},{"name":"rpt:f-685","factDimensions":{"xbrl:concept":"us-gaap:StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased","xbrl:period":"2020-04-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"xbrla:shares"},"factValues":[{"value":"10000000"}]},{"name":"rpt:f-686","factDimensions":{"xbrl:concept":"us-gaap:TreasuryStockShares","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"xbrla:shares"},"factValues":[{"value":"6267021"}]},{"name":"rpt:f-687","factDimensions":{"xbrl:concept":"us-gaap:TreasuryStockValue","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"103600000","decimals":-5}]},{"name":"rpt:f-688","factDimensions":{"xbrl:concept":"us-gaap:StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"9900000","decimals":-5}]},{"name":"rpt:f-689","factDimensions":{"xbrl:concept":"us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\n12.\u00a0\u00a0STOCK-BASED COMPENSATION:
\nWe account for our stock-based compensation plans following the provisions of FASB Accounting Standards Codification 718, \u201cCompensation\u00a0\u2014 Stock Compensation\u201d (\u201cASC 718\u201d).\u00a0\u00a0In accordance with ASC 718, we use the Black-Scholes valuation model for valuing all stock-based compensation and shares purchased under our Employee Stock Purchase Plan.\u00a0\u00a0We measure compensation for restricted stock awards and restricted stock units at fair value on the grant date based on the number of shares expected to vest and the quoted market price of our common stock.\u00a0\u00a0We recognize compensation cost for all awards in operations on a straight-line basis over the requisite service period for each separately vesting portion of the award.
\nCash received from option exercises under all share-based compensation arrangements for the fiscal years ended September\u00a030, 2018, 2019 and 2020 was approximately $7.7 million, $2.4 million, and $4.6 million, respectively. We currently expect to satisfy share-based awards with registered shares available to be issued.
"}]},{"name":"rpt:f-690","factDimensions":{"xbrl:concept":"us-gaap:ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions","xbrl:period":"2017-10-01T00:00:00/2018-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"7700000","decimals":-5}]},{"name":"rpt:f-691","factDimensions":{"xbrl:concept":"us-gaap:ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions","xbrl:period":"2018-10-01T00:00:00/2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"2400000","decimals":-5}]},{"name":"rpt:f-692","factDimensions":{"xbrl:concept":"us-gaap:ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"4600000","decimals":-5}]},{"name":"rpt:f-693","factDimensions":{"xbrl:concept":"hzo:IncentiveStockPlansTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\n13. THE INCENTIVE STOCK PLANS:
\nDuring February 2020, our shareholders approved a proposal to amend the 2011 Stock-Based Compensation Plan (\u201c2011 Plan\u201d) to increase the 3,200,456 share threshold by 1,000,000 shares to 4,200,456 shares.\u00a0\u00a0During January 2011, our shareholders approved a proposal to authorize our 2011 Plan, which replaced our 2007 Incentive Compensation Plan (\u201c2007 Plan\u201d).\u00a0\u00a0Our 2011 Plan provides for the grant of stock options, stock appreciation rights, restricted stock, stock units, bonus stock, dividend equivalents, other stock related awards, and performance awards (collectively \u201cawards\u201d), that may be settled in cash, stock, or other property.\u00a0\u00a0Our 2011 Plan is designed to attract, motivate, retain, and reward our executives, employees, officers, directors, and independent contractors by providing such persons with annual and long-term performance incentives to expend their maximum efforts in the creation of shareholder value.\u00a0\u00a0Subsequent to the February 2020 amendment described above, the total number of shares of our common stock that may be subject to awards under the 2011 Plan is equal to 4,000,000 shares, plus: (i)\u00a0any shares available for issuance and not subject to an award under the 2007 Plan, which was 200,456 shares at the time of approval of the 2011 Plan; (ii)\u00a0the number of shares with respect to which awards granted under the 2011 Plan and the 2007 Plan terminate without the issuance of the shares or where the shares are forfeited or repurchased; (iii)\u00a0with respect to awards granted under the 2011 Plan and the 2007 Plan, the number of shares that are not issued as a result of the award being settled for cash or otherwise not issued in connection with the exercise or payment of the award; and (iv)\u00a0the number of shares that are surrendered or withheld in payment of the exercise price of any award or any tax withholding requirements in connection with any award granted under the 2011 Plan or the 2007 Plan.\u00a0\u00a0The 2011 Plan terminates in January 2021, and awards may be granted at any time during the life of the 2011 Plan.\u00a0\u00a0The dates on which awards vest are determined by the Board of Directors or the Plan Administrator.\u00a0\u00a0The Board of Directors has appointed the Compensation Committee as the Plan Administrator.\u00a0\u00a0The exercise prices of options are determined by the Board of Directors or the Plan Administrator and are at least equal to the fair market value of shares of common stock on the date of grant.\u00a0\u00a0The term of options under the 2011 Plan may not exceed ten years.\u00a0\u00a0The options granted have varying vesting periods.\u00a0\u00a0To date, we have not settled or been under any obligation to settle any awards in cash.
\nThe following table summarizes option activity from September\u00a030, 2019 through September 30, 2020:
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n Shares \nAvailable \nfor Grant | \n\n \u00a0 | \n\n \u00a0 | \n\n Options \nOutstanding | \n\n \u00a0 | \n\n \u00a0 | \n\n Aggregate \nIntrinsic \nValue \n(in thousands) | \n\n \u00a0 | \n\n \u00a0 | \n\n Weighted \nAverage \nExercise \nPrice | \n\n \u00a0 | \n\n \u00a0 | \n\n Weighted \nAverage \nRemaining \nContractual \nLife | \n\n \u00a0 | \n|||||
| \n Balance as of September 30, 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 715,590 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 484,031 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 1,569 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 12.42 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n | \n\n \u00a0 | \n
| \n Shares authorized | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,000,000 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Options granted | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Options cancelled/forfeited/expired | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Options exercised | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (287,702 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 12.63 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Restricted stock awards granted | \n\n \u00a0 | \n\n \u00a0 | \n\n (477,271 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Restricted stock awards forfeited | \n\n \u00a0 | \n\n \u00a0 | \n\n 49,188 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Additional shares of stock issued | \n\n \u00a0 | \n\n \u00a0 | \n\n (12,092 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Balance as of September 30, 2020 | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,275,415 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 196,329 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 2,636 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 12.12 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n | \n\n \u00a0 | \n
| \n Exercisable as of September 30, 2020 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 196,239 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 2,636 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 12.12 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n | \n\n \u00a0 | \n
\u00a0
\nThe weighted-average grant date fair value of options granted during the fiscal year ended September 30, 2018 was $8.42. No options were granted during the fiscal years ended September 30, 2019 and September 30, 2020. The total intrinsic value of options exercised during the fiscal years ended September\u00a030, 2018, 2019 and 2020 was approximately $6.3 million, $1.4 million, and $3.8 million, respectively. The total fair value of options vested during the fiscal year ended September\u00a030, 2018, was approximately $1.3 million.
\n\u00a0
\nWe used the Black-Scholes model to estimate the fair value of options granted. The expected term of options granted is estimated based on historical experience.\u00a0\u00a0Volatility is based on the historical volatility of our common stock.\u00a0\u00a0The risk-free rate for periods within the contractual term of the options is based on the U.S. Treasury yield curve in effect at the time of grant.
\nBelow are the weighted-average assumptions used for the fiscal year ended September 30, 2018. No options were granted for the fiscal years ended September 30, 2019 or September 30, 2020.
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2018 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n
| \n Dividend yield | \n\n \u00a0 | \n\n 0.0% | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n
| \n Risk-free interest rate | \n\n \u00a0 | \n\n 2.7% | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n
| \n Volatility | \n\n \u00a0 | \n\n 45.4% | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n
| \n Expected life | \n\n \u00a0 | \n\n 5.0 years | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n
\u00a0
"}]},{"name":"rpt:f-694","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized","xbrl:period":"2011-02-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"xbrla:shares","us-gaap:PlanNameAxis":"hzo:IncentiveStockPlanTwoThousandElevenMember"},"factValues":[{"value":"3200456"}]},{"name":"rpt:f-695","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized","xbrl:period":"2020-02-01T00:00:00/2020-03-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"xbrla:shares","us-gaap:PlanNameAxis":"hzo:IncentiveStockPlanTwoThousandElevenMember"},"factValues":[{"value":"1000000"}]},{"name":"rpt:f-696","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized","xbrl:period":"2020-03-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"xbrla:shares","us-gaap:PlanNameAxis":"hzo:IncentiveStockPlanTwoThousandElevenMember","srt:RangeAxis":"srt:MaximumMember"},"factValues":[{"value":"4200456"}]},{"name":"rpt:f-697","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"xbrla:shares","us-gaap:PlanNameAxis":"hzo:IncentiveStockPlanTwoThousandElevenMember","us-gaap:AwardTypeAxis":"hzo:SubjectToAwardMember"},"factValues":[{"value":"4000000"}]},{"name":"rpt:f-698","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"xbrla:shares","us-gaap:PlanNameAxis":"hzo:IncentiveStockPlanTwoThousandSevenMember"},"factValues":[{"value":"200456"}]},{"name":"rpt:f-699","factDimensions":{"xbrl:concept":"hzo:StockIncentivePlanExpiration","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:PlanNameAxis":"hzo:IncentiveStockPlanTwoThousandElevenMember"},"factValues":[{"value":"2021-01"}]},{"name":"rpt:f-700","factDimensions":{"xbrl:concept":"hzo:StockIncentivePlanContractualTermMaximum","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:PlanNameAxis":"hzo:IncentiveStockPlanTwoThousandElevenMember"},"factValues":[{"value":"P10Y"}]},{"name":"rpt:f-701","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nThe following table summarizes option activity from September\u00a030, 2019 through September 30, 2020:
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n Shares \nAvailable \nfor Grant | \n\n \u00a0 | \n\n \u00a0 | \n\n Options \nOutstanding | \n\n \u00a0 | \n\n \u00a0 | \n\n Aggregate \nIntrinsic \nValue \n(in thousands) | \n\n \u00a0 | \n\n \u00a0 | \n\n Weighted \nAverage \nExercise \nPrice | \n\n \u00a0 | \n\n \u00a0 | \n\n Weighted \nAverage \nRemaining \nContractual \nLife | \n\n \u00a0 | \n|||||
| \n Balance as of September 30, 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 715,590 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 484,031 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 1,569 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 12.42 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n | \n\n \u00a0 | \n
| \n Shares authorized | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,000,000 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Options granted | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Options cancelled/forfeited/expired | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Options exercised | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n (287,702 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 12.63 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Restricted stock awards granted | \n\n \u00a0 | \n\n \u00a0 | \n\n (477,271 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Restricted stock awards forfeited | \n\n \u00a0 | \n\n \u00a0 | \n\n 49,188 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Additional shares of stock issued | \n\n \u00a0 | \n\n \u00a0 | \n\n (12,092 | \n\n ) | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Balance as of September 30, 2020 | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,275,415 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 196,329 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 2,636 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 12.12 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n | \n\n \u00a0 | \n
| \n Exercisable as of September 30, 2020 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 196,239 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 2,636 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 12.12 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n | \n\n \u00a0 | \n
Below are the weighted-average assumptions used for the fiscal year ended September 30, 2018. No options were granted for the fiscal years ended September 30, 2019 or September 30, 2020.
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2018 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n
| \n Dividend yield | \n\n \u00a0 | \n\n 0.0% | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n
| \n Risk-free interest rate | \n\n \u00a0 | \n\n 2.7% | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n
| \n Volatility | \n\n \u00a0 | \n\n 45.4% | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n
| \n Expected life | \n\n \u00a0 | \n\n 5.0 years | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u2014 | \n\n \u00a0 | \n
14.\u00a0\u00a0EMPLOYEE STOCK PURCHASE PLAN:
\nDuring February 2019, our shareholders approved a proposal to amend our Amended 2008 Employee Stock Purchase Plan (\u201cStock Purchase Plan\u201d) to increase the number of shares available under that plan by 500,000 shares.\u00a0\u00a0The Stock Purchase Plan as amended provides for up to 1,500,000 shares of common stock to be available for purchase by our regular employees who have completed at least one year of continuous service.\u00a0\u00a0In addition, there were 52,837 shares of common stock available under our 1998 Employee Stock Purchase Plan, which have been made available for issuance under our Stock Purchase Plan.\u00a0\u00a0The Stock Purchase Plan provides for implementation of annual offerings beginning on the first day of October in each of the years 2008 through 2027, with each offering terminating on September 30 of the following year.\u00a0\u00a0Each annual offering may be divided into two six-month offerings.\u00a0\u00a0For each offering, the purchase price per share will be the lower of: (i)\u00a085% of the closing price of the common stock on the first day of the offering or (ii)\u00a085% of the closing price of the common stock on the last day of the offering.\u00a0\u00a0The purchase price is paid through periodic payroll deductions not to exceed 10% of the participant\u2019s earnings during each offering period.\u00a0\u00a0However, no participant may purchase more than $25,000 worth of common stock annually.
\nWe used the Black-Scholes model to estimate the fair value of options granted to purchase shares issued pursuant to the Stock Purchase Plan. Volatility is based on the historical volatility of our common stock.\u00a0\u00a0The risk-free rate for periods within the contractual term of the options is based on the U.S.\u00a0Treasury yield curve in effect at the time of grant.
\n\u00a0
\nThe following are the weighted-average assumptions used for the fiscal years ended September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2018 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n
| \n Dividend yield | \n\n \u00a0 | \n\n 0.0% | \n\n \u00a0 | \n\n \u00a0 | \n\n 0.0% | \n\n \u00a0 | \n\n \u00a0 | \n\n 0.0% | \n\n \u00a0 | \n
| \n Risk-free interest rate | \n\n \u00a0 | \n\n 1.5% | \n\n \u00a0 | \n\n \u00a0 | \n\n 2.4% | \n\n \u00a0 | \n\n \u00a0 | \n\n 0.8% | \n\n \u00a0 | \n
| \n Volatility | \n\n \u00a0 | \n\n 49.9% | \n\n \u00a0 | \n\n \u00a0 | \n\n 48.3% | \n\n \u00a0 | \n\n \u00a0 | \n\n 69.7% | \n\n \u00a0 | \n
| \n Expected life | \n\n \u00a0 | \n\n Six months | \n\n \u00a0 | \n\n \u00a0 | \n\n Six months | \n\n \u00a0 | \n\n \u00a0 | \n\n Six months | \n\n \u00a0 | \n
\u00a0
\nAs of September 30, 2020, we had issued 1,017,563 shares of common stock under our Stock Purchase Plan.
"}]},{"name":"rpt:f-734","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized","xbrl:period":"2019-02-01T00:00:00/2019-03-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"xbrla:shares","us-gaap:PlanNameAxis":"hzo:StockPurchasePlanMember"},"factValues":[{"value":"500000"}]},{"name":"rpt:f-735","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"xbrla:shares","us-gaap:PlanNameAxis":"hzo:StockPurchasePlanMember"},"factValues":[{"value":"1500000"}]},{"name":"rpt:f-736","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:PlanNameAxis":"hzo:StockPurchasePlanMember"},"factValues":[{"value":"P1Y"}]},{"name":"rpt:f-737","factDimensions":{"xbrl:concept":"us-gaap:CommonStockCapitalSharesReservedForFutureIssuance","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"xbrla:shares","us-gaap:PlanNameAxis":"hzo:NineteenNinetyEightEmployeeStockPurchasePlanMember"},"factValues":[{"value":"52837"}]},{"name":"rpt:f-738","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:PlanNameAxis":"hzo:StockPurchasePlanMember"},"factValues":[{"value":"implementation of annual offerings beginning on the first day of October in each of the years 2008 through 2027, with each offering terminating on September 30 of the following year."}]},{"name":"rpt:f-739","factDimensions":{"xbrl:concept":"us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:PlanNameAxis":"hzo:StockPurchasePlanMember"},"factValues":[{"value":"0.85"}]},{"name":"rpt:f-740","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumEmployeeSubscriptionRate","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:PlanNameAxis":"hzo:StockPurchasePlanMember"},"factValues":[{"value":"0.10"}]},{"name":"rpt:f-741","factDimensions":{"xbrl:concept":"hzo:ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfCommonStockValuePerEmployee","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD","us-gaap:PlanNameAxis":"hzo:StockPurchasePlanMember"},"factValues":[{"value":"25000"}]},{"name":"rpt:f-742","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nThe following are the weighted-average assumptions used for the fiscal years ended September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2018 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n
| \n Dividend yield | \n\n \u00a0 | \n\n 0.0% | \n\n \u00a0 | \n\n \u00a0 | \n\n 0.0% | \n\n \u00a0 | \n\n \u00a0 | \n\n 0.0% | \n\n \u00a0 | \n
| \n Risk-free interest rate | \n\n \u00a0 | \n\n 1.5% | \n\n \u00a0 | \n\n \u00a0 | \n\n 2.4% | \n\n \u00a0 | \n\n \u00a0 | \n\n 0.8% | \n\n \u00a0 | \n
| \n Volatility | \n\n \u00a0 | \n\n 49.9% | \n\n \u00a0 | \n\n \u00a0 | \n\n 48.3% | \n\n \u00a0 | \n\n \u00a0 | \n\n 69.7% | \n\n \u00a0 | \n
| \n Expected life | \n\n \u00a0 | \n\n Six months | \n\n \u00a0 | \n\n \u00a0 | \n\n Six months | \n\n \u00a0 | \n\n \u00a0 | \n\n Six months | \n\n \u00a0 | \n
15.\u00a0\u00a0RESTRICTED STOCK AWARDS:
\nWe have granted non-vested (restricted) stock awards (\u201crestricted stock\u201d) and restricted stock units (\u201cRSUs\u201d) to employees, Directors, and Officers pursuant to the 2011 Plan and the 2007 Plan. The restricted stock awards and RSUs have varying vesting periods, but generally become fully vested between two and four years after the grant date, depending on the specific award, performance targets met for performance based awards granted to Officers, and vesting period for time based awards.\u00a0\u00a0Officer performance based awards are granted at the target amount of shares that may be earned and the actual amount of the award earned generally could range from 0% to 175% of the target number of shares based on the actual specified performance target met.\u00a0\u00a0We accounted for the restricted stock awards granted using the measurement and recognition provisions of ASC 718.\u00a0\u00a0Accordingly, the fair value of the restricted stock awards, including performance based awards, is measured on the grant date and recognized in earnings over the requisite service period for each separately vesting portion of the award.
\nThe following table summarizes restricted stock award activity from September 30, 2019 through September 30, 2020:
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n Shares/ \nUnits | \n\n \u00a0 | \n\n \u00a0 | \n\n Weighted \nAverage \nGrant Date \nFair Value | \n\n \u00a0 | \n||
| \n Non-vested balance as of September 30, 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 779,627 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 18.71 | \n\n \u00a0 | \n
| \n Changes during the period | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Awards granted | \n\n \u00a0 | \n\n \u00a0 | \n\n 477,271 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 17.07 | \n\n \u00a0 | \n
| \n Awards vested | \n\n \u00a0 | \n\n \u00a0 | \n\n (305,079 | \n\n ) | \n\n \u00a0 | \n\n $ | \n\n 17.78 | \n\n \u00a0 | \n
| \n Awards forfeited | \n\n \u00a0 | \n\n \u00a0 | \n\n (49,188 | \n\n ) | \n\n \u00a0 | \n\n $ | \n\n 20.08 | \n\n \u00a0 | \n
| \n Non-vested balance as of September 30, 2020 | \n\n \u00a0 | \n\n \u00a0 | \n\n 902,631 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 18.08 | \n\n \u00a0 | \n
\u00a0
\nAs of September 30, 2020, we had approximately $8.1 million of total unrecognized compensation cost related to non-vested restricted stock awards. We expect to recognize that cost over a weighted-average period of 2.1 years.
"}]},{"name":"rpt:f-757","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:AwardTypeAxis":"us-gaap:RestrictedStockMember","srt:RangeAxis":"srt:MinimumMember"},"factValues":[{"value":"P2Y"}]},{"name":"rpt:f-758","factDimensions":{"xbrl:concept":"us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:AwardTypeAxis":"us-gaap:RestrictedStockMember","srt:RangeAxis":"srt:MaximumMember"},"factValues":[{"value":"P4Y"}]},{"name":"rpt:f-759","factDimensions":{"xbrl:concept":"hzo:ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageEarningRange","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:AwardTypeAxis":"us-gaap:RestrictedStockMember","srt:RangeAxis":"srt:MinimumMember"},"factValues":[{"value":"0"}]},{"name":"rpt:f-760","factDimensions":{"xbrl:concept":"hzo:ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageEarningRange","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","us-gaap:AwardTypeAxis":"us-gaap:RestrictedStockMember","srt:RangeAxis":"srt:MaximumMember"},"factValues":[{"value":"1.75"}]},{"name":"rpt:f-761","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nThe following table summarizes restricted stock award activity from September 30, 2019 through September 30, 2020:
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n Shares/ \nUnits | \n\n \u00a0 | \n\n \u00a0 | \n\n Weighted \nAverage \nGrant Date \nFair Value | \n\n \u00a0 | \n||
| \n Non-vested balance as of September 30, 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 779,627 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 18.71 | \n\n \u00a0 | \n
| \n Changes during the period | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Awards granted | \n\n \u00a0 | \n\n \u00a0 | \n\n 477,271 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 17.07 | \n\n \u00a0 | \n
| \n Awards vested | \n\n \u00a0 | \n\n \u00a0 | \n\n (305,079 | \n\n ) | \n\n \u00a0 | \n\n $ | \n\n 17.78 | \n\n \u00a0 | \n
| \n Awards forfeited | \n\n \u00a0 | \n\n \u00a0 | \n\n (49,188 | \n\n ) | \n\n \u00a0 | \n\n $ | \n\n 20.08 | \n\n \u00a0 | \n
| \n Non-vested balance as of September 30, 2020 | \n\n \u00a0 | \n\n \u00a0 | \n\n 902,631 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 18.08 | \n\n \u00a0 | \n
16.\u00a0\u00a0NET INCOME PER SHARE:
\nThe following is a reconciliation of the shares used in the denominator for calculating basic and diluted net income per share for the fiscal years ended September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2018 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n|||
| \n Weighted average common shares outstanding used in \n\u00a0\u00a0 calculating basic income per share | \n\n \u00a0 | \n\n \u00a0 | \n\n 22,269,378 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 22,294,114 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 21,547,665 | \n\n \u00a0 | \n
| \n Effect of dilutive options and non-vested restricted \n\u00a0\u00a0 stock awards | \n\n \u00a0 | \n\n \u00a0 | \n\n 761,284 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 587,033 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 577,673 | \n\n \u00a0 | \n
| \n Weighted average common and common equivalent shares \n\u00a0\u00a0 used in calculating diluted income per share | \n\n \u00a0 | \n\n \u00a0 | \n\n 23,030,662 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 22,881,147 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 22,125,338 | \n\n \u00a0 | \n
\u00a0
\nDuring the fiscal years ended September 30, 2018, 2019, and 2020 there were 1,288, 10,988, and 9,650 weighted average shares of options outstanding, respectively, that were not included in the computation of diluted income per share because the options\u2019 exercise prices were greater than the average market price of our common stock, and therefore, their effect would be anti-dilutive.
"}]},{"name":"rpt:f-775","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfWeightedAverageNumberOfSharesTableTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nThe following is a reconciliation of the shares used in the denominator for calculating basic and diluted net income per share for the fiscal years ended September 30,
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n 2018 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2020 | \n\n \u00a0 | \n|||
| \n Weighted average common shares outstanding used in \n\u00a0\u00a0 calculating basic income per share | \n\n \u00a0 | \n\n \u00a0 | \n\n 22,269,378 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 22,294,114 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 21,547,665 | \n\n \u00a0 | \n
| \n Effect of dilutive options and non-vested restricted \n\u00a0\u00a0 stock awards | \n\n \u00a0 | \n\n \u00a0 | \n\n 761,284 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 587,033 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 577,673 | \n\n \u00a0 | \n
| \n Weighted average common and common equivalent shares \n\u00a0\u00a0 used in calculating diluted income per share | \n\n \u00a0 | \n\n \u00a0 | \n\n 23,030,662 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 22,881,147 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 22,125,338 | \n\n \u00a0 | \n
17.\u00a0\u00a0COMMITMENTS AND CONTINGENCIES:
\nWe are party to various legal actions arising in the ordinary course of business. We believe that these matters should not have a material adverse effect on our consolidated financial condition, results of operations or cash flows.
\nDuring the fiscal years ended September 30, 2018, 2019, and 2020, we incurred costs associated with store closings and lease terminations of approximately $0, $3.1 million, and $1.7 million, respectively. The store closing costs have been included in selling, general, and administrative expenses in the consolidated statements of operations during the fiscal years ended September 30, 2018, 2019, and 2020.
\nIn connection with certain of our workers\u2019 compensation insurance policies, we maintain standby letters of credit for our insurance carriers in the amount of $1.1 million relating primarily to retained risk on our workers compensation claims.
\nWe are subject to federal and state environmental regulations, including rules relating to air and water pollution and the storage and disposal of gasoline, oil, other chemicals and waste.\u00a0\u00a0We believe that we are in compliance with such regulations.
\n\u00a0
"}]},{"name":"rpt:f-789","factDimensions":{"xbrl:concept":"us-gaap:BusinessExitCosts1","xbrl:period":"2017-10-01T00:00:00/2018-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"0","decimals":0}]},{"name":"rpt:f-790","factDimensions":{"xbrl:concept":"us-gaap:BusinessExitCosts1","xbrl:period":"2018-10-01T00:00:00/2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"3100000","decimals":-5}]},{"name":"rpt:f-791","factDimensions":{"xbrl:concept":"us-gaap:BusinessExitCosts1","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"1700000","decimals":-5}]},{"name":"rpt:f-792","factDimensions":{"xbrl:concept":"us-gaap:PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesForLetterOfCreditFacilities","xbrl:period":"2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"1100000","decimals":-5}]},{"name":"rpt:f-793","factDimensions":{"xbrl:concept":"us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\n18.\u00a0\u00a0EMPLOYEE 401(k) PROFIT SHARING PLANS:
\nEmployees are eligible to participate in our 401(k) Profit Sharing Plan (the \u201cPlan\u201d) following their 90-day introductory period starting either April 1 or October\u00a01, provided that they are 21\u00a0years of age.\u00a0\u00a0Under the Plan, we matched 50% of participants\u2019 contributions, up to a maximum of 5% of each participant\u2019s compensation. We contributed, under the Plan, or pursuant to previous similar plans, approximately $1.9 million, $2.3 million, and $2.7 million for the fiscal years ended September\u00a030, 2018, 2019 and 2020, respectively.
"}]},{"name":"rpt:f-794","factDimensions":{"xbrl:concept":"hzo:DurationOfProfitSharingPlan","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"P90D"}]},{"name":"rpt:f-795","factDimensions":{"xbrl:concept":"hzo:IntroductoryPeriodOfProfitSharingPlan","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"April 1 or October\u00a01"}]},{"name":"rpt:f-796","factDimensions":{"xbrl:concept":"hzo:EmployeesEligibilityAgeForParticipatingInProfitSharingPlan","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"P21Y"}]},{"name":"rpt:f-797","factDimensions":{"xbrl:concept":"us-gaap:DefinedContributionPlanEmployerMatchingContributionPercentOfMatch","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"0.50","decimals":2}]},{"name":"rpt:f-798","factDimensions":{"xbrl:concept":"us-gaap:DefinedContributionPlanEmployerMatchingContributionPercent","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"0.05"}]},{"name":"rpt:f-799","factDimensions":{"xbrl:concept":"us-gaap:DefinedContributionPlanCostRecognized","xbrl:period":"2017-10-01T00:00:00/2018-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"1900000","decimals":-5}]},{"name":"rpt:f-800","factDimensions":{"xbrl:concept":"us-gaap:DefinedContributionPlanCostRecognized","xbrl:period":"2018-10-01T00:00:00/2019-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"2300000","decimals":-5}]},{"name":"rpt:f-801","factDimensions":{"xbrl:concept":"us-gaap:DefinedContributionPlanCostRecognized","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD"},"factValues":[{"value":"2700000","decimals":-5}]},{"name":"rpt:f-802","factDimensions":{"xbrl:concept":"us-gaap:SubsequentEventsTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\n19.\u00a0\u00a0SUBSEQUENT EVENTS:
\n\u00a0
\nOn October 1, 2020, under the Equity Purchase Agreement, dated October 1, 2020, by and among (a) Skipper Marine Holdings, Inc., SSY Holdings, Inc., Michael J. Pretasky, Sr., Michael John Pretasky, Jr. 2014 Trust, Mark Ellerbrock and Robert Ross Tefft, Jr. (collectively the \u201cSkippers Sellers\u201d) and (b) Michael J. Pretasky, Jr., as the representative of the Skippers Sellers, the Company acquired all of the outstanding equity of Skipper Marine Corp., Skipper Marine of Madison, Inc., Skipper Marine of Fox Valley, Inc., Skipper Bud\u2019s of Illinois, Inc., Skipper Marine of Chicago-Land, Inc., Skipper Marine of Michigan, Inc., and Skipper Marine of Ohio, LLC, (collectively, the \u201cSkippers Companies\u201d) for an aggregate purchase price of $55,000,000, subject to certain customary closing and post-closing adjustments including certain holdbacks. The Skippers Sellers have the opportunity to earn additional consideration as part of an earnout subject to the achievement of certain pre-tax earnings levels. The Skippers Sellers will be subject to certain customary post-closing covenants and indemnities.
\n\u00a0
\nThrough the transaction, the Company added 20 locations in Wisconsin, Michigan, Illinois, Ohio, California, Washington and Florida, including 11 marina and storage facilities, expanding the Company\u2019s marina portfolio, and adding to its overall geographic reach in the Great Lakes and the West Coast. The Company is retaining the management of the Skippers Companies.
\n\u00a0
\nOn October 30, 2020, we and the Sea Ray and Boston Whaler Divisions of Brunswick Corporation (each separately \u201cBuilder\u201d) each entered into a new Sales and Service Agreement relating to the Builder\u2019s products effective September\u00a01, 2021 and extending through August\u00a031, 2024, under certain conditions, with automatic renewal for successive three-year extensions, unless the agreements are terminated earlier or either party gives the other written notice not less than 6 months prior to the end of the then current term of the agreement that the agreement will not renew at the end of such term. See our Form 8-K filed on November 5, 2020 for a further summary of the agreements.
\n\u00a0
\n\u00a0
"}]},{"name":"rpt:f-803","factDimensions":{"xbrl:concept":"us-gaap:BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable","xbrl:period":"2020-10-01T00:00:00/2020-10-02T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"iso4217:USD","us-gaap:BusinessAcquisitionAxis":"hzo:SkippersCompaniesMember","us-gaap:SubsequentEventTypeAxis":"us-gaap:SubsequentEventMember"},"factValues":[{"value":"55000000","decimals":0}]},{"name":"rpt:f-804","factDimensions":{"xbrl:concept":"hzo:NumberOfStoresAdded","xbrl:period":"2020-10-02T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"hzo:Store","us-gaap:BusinessAcquisitionAxis":"hzo:SkippersCompaniesMember","us-gaap:SubsequentEventTypeAxis":"us-gaap:SubsequentEventMember"},"factValues":[{"value":"20"}]},{"name":"rpt:f-805","factDimensions":{"xbrl:concept":"hzo:NumberOfStoresAdded","xbrl:period":"2020-10-02T00:00:00","xbrl:entity":"cik:0001057060","xbrl:unit":"hzo:Store","us-gaap:FranchisorDisclosureAxis":"hzo:MarinaAndStorageFacilitiesMember","us-gaap:BusinessAcquisitionAxis":"hzo:SkippersCompaniesMember","us-gaap:SubsequentEventTypeAxis":"us-gaap:SubsequentEventMember"},"factValues":[{"value":"11"}]},{"name":"rpt:f-806","factDimensions":{"xbrl:concept":"us-gaap:QuarterlyFinancialInformationTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\n20.\u00a0\u00a0QUARTERLY FINANCIAL DATA (UNAUDITED):
\nThe following table sets forth certain unaudited quarterly financial data for each of our last eight quarters.\u00a0\u00a0The information has been derived from unaudited financial statements that we believe reflect all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of such quarterly financial information.
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n December 31, \n2018 | \n\n \u00a0 | \n\n \u00a0 | \n\n March 31, \n2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n June 30, \n2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n September 30, \n2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n December 31, \n2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n March 31, \n2020 | \n\n \u00a0 | \n\n \u00a0 | \n\n June 30, \n2020 | \n\n \u00a0 | \n\n \u00a0 | \n\n September 30, \n2020 | \n\n \u00a0 | \n||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n|||||||||||||||||||||||||||||
| \n Revenue | \n\n \u00a0 | \n\n $ | \n\n 241,937 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 303,586 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 383,494 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 308,136 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 304,172 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 308,475 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 498,304 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 398,762 | \n\n \u00a0 | \n
| \n Cost of sales | \n\n \u00a0 | \n\n \u00a0 | \n\n 178,459 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 229,384 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 285,784 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 220,694 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 224,154 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 229,699 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 374,851 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 282,296 | \n\n \u00a0 | \n
| \n Gross profit | \n\n \u00a0 | \n\n \u00a0 | \n\n 63,478 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 74,202 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 97,710 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 87,442 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 80,018 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 78,776 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 123,453 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 116,466 | \n\n \u00a0 | \n
| \n Selling, general \n\u00a0\u00a0 and administrative \n\u00a0\u00a0 expenses | \n\n \u00a0 | \n\n \u00a0 | \n\n 54,492 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 63,976 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 68,968 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 74,864 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 64,386 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 69,060 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 74,838 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 83,714 | \n\n \u00a0 | \n
| \n Income from \n\u00a0\u00a0 operations | \n\n \u00a0 | \n\n \u00a0 | \n\n 8,986 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 10,226 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 28,742 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 12,578 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 15,632 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 9,716 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 48,615 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 32,752 | \n\n \u00a0 | \n
| \n Interest expense | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,516 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 3,033 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,936 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 3,094 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 3,344 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 3,013 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,133 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 785 | \n\n \u00a0 | \n
| \n Income before income \n\u00a0\u00a0 income tax \n\u00a0\u00a0 provision | \n\n \u00a0 | \n\n \u00a0 | \n\n 6,470 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 7,193 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 25,806 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 9,484 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 12,288 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 6,703 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 46,482 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 31,967 | \n\n \u00a0 | \n
| \n Income tax \n\u00a0\u00a0 provision | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,560 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,890 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 6,719 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,799 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 3,229 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,638 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 11,555 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 6,384 | \n\n \u00a0 | \n
| \n Net income | \n\n \u00a0 | \n\n $ | \n\n 4,910 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 5,303 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 19,087 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 6,685 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 9,059 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 5,065 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 34,927 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 25,583 | \n\n \u00a0 | \n
| \n Net income \n\u00a0\u00a0 per share: | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Diluted | \n\n \u00a0 | \n\n $ | \n\n 0.21 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 0.23 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 0.84 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 0.31 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 0.41 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 0.23 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 1.58 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 1.13 | \n\n \u00a0 | \n
| \n Weighted average \n\u00a0\u00a0 number of shares: | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Diluted | \n\n \u00a0 | \n\n \u00a0 | \n\n 23,400,685 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 23,417,688 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 22,821,202 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 21,896,257 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 21,890,065 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 21,960,285 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 22,045,900 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 22,604,060 | \n\n \u00a0 | \n
\u00a0
"}]},{"name":"rpt:f-807","factDimensions":{"xbrl:concept":"us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock","xbrl:period":"2019-10-01T00:00:00/2020-10-01T00:00:00","xbrl:entity":"cik:0001057060"},"factValues":[{"value":"\nThe following table sets forth certain unaudited quarterly financial data for each of our last eight quarters.\u00a0\u00a0The information has been derived from unaudited financial statements that we believe reflect all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of such quarterly financial information.
\n\u00a0
\n| \n \u00a0 | \n\n \u00a0 | \n\n December 31, \n2018 | \n\n \u00a0 | \n\n \u00a0 | \n\n March 31, \n2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n June 30, \n2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n September 30, \n2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n December 31, \n2019 | \n\n \u00a0 | \n\n \u00a0 | \n\n March 31, \n2020 | \n\n \u00a0 | \n\n \u00a0 | \n\n June 30, \n2020 | \n\n \u00a0 | \n\n \u00a0 | \n\n September 30, \n2020 | \n\n \u00a0 | \n||||||||
| \n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n|||||||||||||||||||||||||||||
| \n Revenue | \n\n \u00a0 | \n\n $ | \n\n 241,937 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 303,586 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 383,494 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 308,136 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 304,172 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 308,475 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 498,304 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 398,762 | \n\n \u00a0 | \n
| \n Cost of sales | \n\n \u00a0 | \n\n \u00a0 | \n\n 178,459 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 229,384 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 285,784 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 220,694 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 224,154 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 229,699 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 374,851 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 282,296 | \n\n \u00a0 | \n
| \n Gross profit | \n\n \u00a0 | \n\n \u00a0 | \n\n 63,478 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 74,202 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 97,710 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 87,442 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 80,018 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 78,776 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 123,453 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 116,466 | \n\n \u00a0 | \n
| \n Selling, general \n\u00a0\u00a0 and administrative \n\u00a0\u00a0 expenses | \n\n \u00a0 | \n\n \u00a0 | \n\n 54,492 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 63,976 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 68,968 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 74,864 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 64,386 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 69,060 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 74,838 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 83,714 | \n\n \u00a0 | \n
| \n Income from \n\u00a0\u00a0 operations | \n\n \u00a0 | \n\n \u00a0 | \n\n 8,986 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 10,226 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 28,742 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 12,578 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 15,632 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 9,716 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 48,615 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 32,752 | \n\n \u00a0 | \n
| \n Interest expense | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,516 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 3,033 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,936 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 3,094 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 3,344 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 3,013 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,133 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 785 | \n\n \u00a0 | \n
| \n Income before income \n\u00a0\u00a0 income tax \n\u00a0\u00a0 provision | \n\n \u00a0 | \n\n \u00a0 | \n\n 6,470 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 7,193 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 25,806 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 9,484 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 12,288 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 6,703 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 46,482 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 31,967 | \n\n \u00a0 | \n
| \n Income tax \n\u00a0\u00a0 provision | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,560 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,890 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 6,719 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 2,799 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 3,229 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 1,638 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 11,555 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 6,384 | \n\n \u00a0 | \n
| \n Net income | \n\n \u00a0 | \n\n $ | \n\n 4,910 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 5,303 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 19,087 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 6,685 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 9,059 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 5,065 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 34,927 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 25,583 | \n\n \u00a0 | \n
| \n Net income \n\u00a0\u00a0 per share: | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Diluted | \n\n \u00a0 | \n\n $ | \n\n 0.21 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 0.23 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 0.84 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 0.31 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 0.41 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 0.23 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 1.58 | \n\n \u00a0 | \n\n \u00a0 | \n\n $ | \n\n 1.13 | \n\n \u00a0 | \n
| \n Weighted average \n\u00a0\u00a0 number of shares: | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n
| \n Diluted | \n\n \u00a0 | \n\n \u00a0 | \n\n 23,400,685 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 23,417,688 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 22,821,202 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 21,896,257 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 21,890,065 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 21,960,285 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 22,045,900 | \n\n \u00a0 | \n\n \u00a0 | \n\n \u00a0 | \n\n 22,604,060 | \n\n \u00a0 | \n