H&E Equipment Services (HEES) 10-Q 27 Oct 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Oct. 20, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Trading Symbol	HEES
Entity Registrant Name	H&E Equipment Services, Inc.
Entity Central Index Key	0001339605
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		36,310,190
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity File Number	000-51759
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-0553291
Entity Address, Address Line One	7500 Pecue Lane
Entity Address, City or Town	Baton Rouge
Entity Address, State or Province	LA
Entity Address, Postal Zip Code	70809
City Area Code	225
Local Phone Number	298-5200
Document Transition Report	false
Document Quarterly Report	true

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 220,479	$ 357,296
Receivables, net of allowance for doubtful accounts of $5,039 and $4,178, respectively	203,166	157,226
Inventories, net of reserves for obsolescence of $86 and $73, respectively	117,447	75,299
Prepaid expenses and other assets	21,321	21,081
Rental equipment, net of accumulated depreciation of $837,794 and $722,646, respectively	1,280,123	1,116,456
Property and equipment, net of accumulated depreciation and amortization of $176,379 and $161,913, respectively	129,636	112,281
Operating lease right-of-use assets, net of accumulated amortization of $47,387 and $36,884, respectively	158,833	151,222
Finance lease right-of-use assets, net of accumulated amortization of $64	1,586
Deferred financing costs, net of accumulated amortization of $16,343 and $15,818, respectively	933	1,458
Intangible assets, net of accumulated amortization of $17,687 and $14,709, respectively	22,013	24,991
Goodwill	63,137	63,137
Total assets	2,218,674	2,080,447
Liabilities:
Accounts payable	121,917	95,604
Manufacturer flooring plans payable	16,624	20,924
Accrued expenses payable and other liabilities	90,567	63,908
Dividends payable	217	128
Senior unsecured notes, net of unaccreted discount of $7,272 and $8,151 and deferred financing costs of $1,679 and $1,882, respectively	1,241,049	1,239,967
Operating lease liabilities	163,322	155,303
Finance lease liabilities	1,619
Deferred income taxes	225,633	201,231
Total liabilities	1,860,948	1,777,065
Commitments and Contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 25,000,000 shares authorized; no shares issued
Common stock, $0.01 par value, 175,000,000 shares authorized; 40,567,876 and 40,353,299 shares issued at September 30, 2022 and December 31, 2021, respectively, and 36,310,190 and 36,141,667 shares outstanding at September 30, 2022 and December 31, 2021, respectively	405	403
Additional paid-in capital	249,553	244,638
Treasury stock at cost, 4,257,686 and 4,211,632 shares of common stock held at September 30, 2022 and December 31, 2021, respectively	(69,925)	(68,294)
Retained earnings	177,693	126,635
Total stockholders’ equity	357,726	303,382
Total liabilities and stockholders’ equity	$ 2,218,674	$ 2,080,447

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivables	$ 5,039	$ 4,178
Reserves for obsolescence inventories	86	73
Accumulated depreciation, rental equipment	837,794	722,646
Accumulated depreciation and amortization, property and equipment	176,379	161,913
Accumulated amortization, operating lease right-of-use assets	47,387	36,884
Accumulated amortization, financing lease right-of-use assets	64
Accumulated amortization, deferred financing costs	16,343	15,818
Accumulated amortization, intangible assets	17,687	14,709
Unaccreted discount, net	7,272	8,151
Deferred financing costs	$ 1,679	$ 1,882
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	175,000,000	175,000,000
Common stock, shares issued	40,567,876	40,353,299
Common stock, shares outstanding	36,310,190	36,141,667
Treasury stock, shares	4,257,686	4,211,632

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Total revenues	$ 324,280	$ 275,436	$ 891,401	$ 781,545
Cost of revenues:
Total cost of revenues	172,397	161,528	495,604	484,405
Gross profit	151,883	113,908	395,797	297,140
Selling, general and administrative expenses	87,871	74,403	248,813	213,259
Merger and other	547	9	547	115
Gain on sales of property and equipment, net	529	6,166	2,911	6,951
Income from operations	63,994	45,662	149,348	90,717
Other income (expense):
Interest expense	(13,548)	(13,430)	(40,495)	(40,298)
Other, net	883	615	2,656	2,026
Total other expense, net	(12,665)	(12,815)	(37,839)	(38,272)
Income from operations before provision for income taxes	51,329	32,847	111,509	52,445
Provision for income taxes	12,953	8,119	28,967	13,611
Net income from continuing operations	38,376	24,728	82,542	38,834
Discontinued Operations:
Income (loss) from discontinued operations before provision (benefit) for income taxes		6,411	(2,049)	14,246
Provision (benefit) for income taxes		1,602	(525)	3,626
Net income (loss) from discontinued operations	0	4,809	(1,524)	10,620
Net income	$ 38,376	$ 29,537	$ 81,018	$ 49,454
Net income from continuing operations per common share:
Basic	$ 1.05	$ 0.68	$ 2.27	$ 1.07
Diluted	1.05	0.68	2.26	1.07
Net income (loss) from discontinued operations per common share:
Basic		0.13	(0.04)	0.29
Diluted		0.13	(0.04)	0.29
Net income per common share:
Basic	1.05	0.81	2.23	1.36
Diluted	$ 1.05	$ 0.81	$ 2.22	$ 1.36
Weighted average common shares outstanding:
Basic	36,462	36,296	36,402	36,232
Diluted	36,553	36,436	36,544	36,420
Dividends declared per common share outstanding	$ 0.275	$ 0.275	$ 0.825	$ 0.825
Equipment Rentals [Member]
Revenues:
Total revenues	$ 253,564	$ 197,184	$ 680,366	$ 526,014
Cost of revenues:
Total cost of revenues	125,484	107,175	352,153	304,599
Equipment Rentals [Member] | Rentals Other [Member]
Cost of revenues:
Total cost of revenues	25,989	20,510	70,775	55,394
Equipment Rentals [Member] | Rental Depreciation [Member]
Cost of revenues:
Total cost of revenues	65,952	58,339	188,261	168,305
Equipment Rentals [Member] | Rental Expense [Member]
Cost of revenues:
Total cost of revenues	33,543	28,326	93,117	80,900
Used Equipment Sales [Member]
Revenues:
Total revenues	20,300	31,071	60,659	105,746
Cost of revenues:
Total cost of revenues	9,396	19,383	31,815	68,426
New Equipment Sales [Member]
Revenues:
Total revenues	23,491	19,355	71,013	70,161
Cost of revenues:
Total cost of revenues	20,249	16,946	60,849	61,576
Parts Sales [Member]
Revenues:
Total revenues	16,745	17,503	48,976	49,939
Cost of revenues:
Total cost of revenues	11,881	13,209	35,417	36,715
Services Revenues [Member]
Revenues:
Total revenues	8,610	8,624	25,633	24,694
Cost of revenues:
Total cost of revenues	3,165	3,000	9,122	8,193
Other [Member]
Revenues:
Total revenues	1,570	1,699	4,754	4,991
Cost of revenues:
Total cost of revenues	$ 2,222	$ 1,815	$ 6,248	$ 4,896

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 81,018	$ 49,454
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	20,889	20,661
Depreciation of rental equipment	188,261	172,025
Amortization of finance lease right-of-use assets	64	122
Amortization of intangible assets	2,978	2,978
Amortization of deferred financing costs	728	729
Accretion of note discount, net of premium amortization	879	879
Non-cash operating lease expense	10,503	11,145
Provision for losses on accounts receivable	2,289	1,200
Provision for inventory obsolescence	32	54
Change in deferred income taxes	24,402	14,445
Stock-based compensation expense	4,915	3,600
Loss on sale of discontinued operations	1,917
Gain from sales of property and equipment, net	(2,911)	(7,000)
Gain from sales of rental equipment, net	(28,126)	(39,274)
Changes in operating assets and liabilities:
Receivables	(47,827)	3,210
Inventories	(84,518)	(46,684)
Prepaid expenses and other assets	(240)	(5,494)
Accounts payable	26,315	1,132
Manufacturer flooring plans payable	(4,300)	7,928
Accrued expenses payable and other liabilities	13,934	10,954
Net cash provided by operating activities	211,202	202,064
Cash flows from investing activities:
Closing adjustment on sale of discontinued operations	(2,256)
Purchases of property and equipment	(36,327)	(24,723)
Purchases of rental equipment	(337,156)	(338,463)
Proceeds from sales of property and equipment	3,561	11,014
Proceeds from sales of rental equipment	55,692	106,494
Net cash used in investing activities	(316,486)	(245,678)
Cash flows from financing activities:
Borrowings on senior secured credit facility	895,845	962,358
Payments on senior secured credit facility	(895,845)	(962,358)
Dividends paid	(29,871)	(29,809)
Purchases of treasury stock	(1,631)	(2,105)
Payments of deferred financing costs		(136)
Payments of finance lease obligations	(31)	(194)
Net cash used in financing activities	(31,533)	(32,244)
Net decrease in cash and cash equivalents	(136,817)	(75,858)
Cash and cash equivalents, beginning of period	357,296	310,882	$ 310,882
Cash and cash equivalents, end of period	220,479	235,024	$ 357,296
Noncash asset purchases:
Assets transferred from used and new inventory to rental fleet	42,338	18,497
Purchases of property and equipment included in accrued expenses payable and other liabilities	(2,567)	9
Operating lease assets obtained in exchange for new operating lease liabilities	18,114	14,201
Cash paid during the period for:
Interest	26,729	26,728
Income taxes paid, net of refunds received	$ 2,550	$ 2,224

Organization and Nature of Oper

Organization and Nature of Operations	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	(1) Organization and Nature of Operations Basis of Presentation Our condensed consolidated financial statements include the financial position and results of operations of H&E Equipment Services, Inc. and its wholly-owned subsidiaries H&E Finance Corp., GNE Investments, Inc., Great Northern Equipment, Inc., H&E California Holding, Inc., H&E Equipment Services (California), LLC and H&E Equipment Services (Mid-Atlantic), Inc., collectively referred to herein as “we”, “us”, “our” or the “Company.” The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such regulations. In the opinion of management, all adjustments (consisting of all normal and recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022, and therefore, the results and trends in these interim condensed consolidated financial statements may not be the same for the entire year. These interim condensed consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended December 31, 2021, from which the consolidated balance sheet amounts as of December 31, 2021 were derived. All significant intercompany accounts and transactions have been eliminated in these condensed consolidated financial statements. On October 1, 2021, the Company sold its crane business (the “Crane Sale”). The results of operations of the Crane Sale are reported in discontinued operations in the Condensed Consolidated Statements of Income for all periods presented. The Condensed Consolidated Statements of Cash Flows include cash flows related to the discontinued operations and accordingly, cash flow amounts for discontinued operations are disclosed in Note 3 “Acquisitions and Dispositions”. All results and information in the consolidated financial statements are presented as continuing operations and exclude the Crane Sale unless otherwise noted specifically as discontinued operations. For additional information, refer to Note 3. The nature of our business is such that short-term obligations are typically met by cash flows generated from long-term assets. Consequently, the accompanying condensed consolidated balance sheets are presented on an unclassified basis. Nature of Operations Founded in 1961, H&E Equipment Services, Inc. is one of the largest rental equipment companies in the nation, serving customers at our 110 branch locations across 26 states. The Company’s fleet is comprised of aerial work platforms, earthmoving, material handling, and other general and specialty lines. H&E serves a diverse set of end markets in many high-growth geographies including branches throughout the Pacific Northwest, West Coast, Intermountain, Southwest, Gulf Coast, Southeast, Midwest and Mid-Atlantic regions.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	(2) Significant Accounting Policies We describe our significant accounting policies in Note 2 of the notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2021. During the three and nine months ended September 30, 2022, there were no significant changes to those accounting policies. Cash and Cash Equivalents Cash and cash equivalents include cash on hand and highly liquid investments with an original maturity of three months or less. Use of Estimates We prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America, which requires management to use its judgment to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosures at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. These assumptions and estimates could have a material effect on our condensed consolidated financial statements. Actual results may differ materially from those estimates. We review our estimates on an ongoing basis based on information currently available, and changes in facts and circumstances may cause us to revise these estimates. Revenue Recognition We recognize revenue in accordance with two different Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) standards: 1) Topic 606 and 2) Topic 842. Under Topic 606, Revenue from Contracts with Customers, revenue is recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Revenue is measured based on the consideration specified in the contract with the customer, and excludes any sales incentives and amounts collected on behalf of third parties. A performance obligation is a promise in a contract to transfer a distinct good or service to a customer. Our contracts with customers generally do not include multiple performance obligations. We recognize revenue when we satisfy a performance obligation by transferring control over a product or service to a customer. The amount of revenue recognized reflects the consideration we expect to be entitled to in exchange for such products or services. Under Topic 842, Leases, we account for equipment rental contracts as operating leases. We recognize revenue from equipment rentals in the period earned, regardless of the timing of billing to customers. A rental contract includes rates for daily, weekly or monthly use, and rental revenues are earned on a daily basis as rental contracts remain outstanding. Because the rental contracts can extend across multiple reporting periods, we record unbilled rental revenues and deferred rental revenues at the end of reporting periods so rental revenues earned is appropriately stated for the periods presented. In the table below, revenues as presented in our condensed consolidated statements of income for the three and nine months ended September 30, 2022 and 2021 are summarized by type and by the applicable accounting standard. Three Months Ended September 30, 2022 2021 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 215,599 $ 86 $ 215,685 $ 166,847 $ 75 $ 166,922 Re-rent revenue 8,441 — 8,441 9,733 — 9,733 Ancillary and other rental revenues: Delivery and pick-up — 15,646 15,646 — 11,005 11,005 Other 13,792 — 13,792 9,524 — 9,524 Total ancillary rental revenues 13,792 15,646 29,438 9,524 11,005 20,529 Total equipment rental revenues 237,832 15,732 253,564 186,104 11,080 197,184 Used equipment sales — 20,300 20,300 — 31,071 31,071 New equipment sales — 23,491 23,491 — 19,355 19,355 Parts sales — 16,745 16,745 — 17,503 17,503 Service revenues — 8,610 8,610 — 8,624 8,624 Other — 1,570 1,570 — 1,699 1,699 Total revenues $ 237,832 $ 86,448 $ 324,280 $ 186,104 $ 89,332 $ 275,436 Nine Months Ended September 30, 2022 2021 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 580,032 $ 272 $ 580,304 $ 444,203 $ 239 $ 444,442 Re-rent revenue 22,247 — 22,247 26,570 — 26,570 Ancillary and other rental revenues: Delivery and pick-up — 40,645 40,645 — 29,487 29,487 Other 37,170 — 37,170 25,515 — 25,515 Total ancillary rental revenues 37,170 40,645 77,815 25,515 29,487 55,002 Total equipment rental revenues 639,449 40,917 680,366 496,288 29,726 526,014 Used equipment sales — 60,659 60,659 — 105,746 105,746 New equipment sales — 71,013 71,013 — 70,161 70,161 Parts sales — 48,976 48,976 — 49,939 49,939 Service revenues — 25,633 25,633 — 24,694 24,694 Other — 4,754 4,754 — 4,991 4,991 Total revenues $ 639,449 $ 251,952 $ 891,401 $ 496,288 $ 285,257 $ 781,545 Revenues by reporting segment are presented in Note 11 of our Condensed Consolidated Financial Statements, using the revenue captions reflected in our consolidated statements of income. We believe that the disaggregation of our revenues from contracts to customers as reflected above, coupled with further discussion below and the reporting segments in Note 11, depict how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors. For further information related to our accounting for revenues pursuant to Topic 606 and Topic 842, see Significant Accounting Policies in Note 2 to our Annual Report on Form 10-K for the year ended December 31, 2021. Receivables and contract assets and liabilities We manage credit risk associated with our accounts receivables at the customer level. Because the same customers typically generate the revenues that are accounted for under both Topic 606 and Topic 842, the discussions below on credit risk and our allowance for doubtful accounts address our total revenues from Topic 606 and Topic 842. We believe concentration of credit risk with respect to our receivables is limited because our customer base is comprised of a large number of geographically diverse customers. No single customer accounted for more than 10% of our revenues on an overall or segment basis for any of the periods presented in this Quarterly Report on Form 10-Q. We manage credit risk through credit approvals, credit limits and other monitoring procedures. Pursuant to Topic 842 and Topic 326 for rental and non-rental receivables, respectively, we maintain an allowance for doubtful accounts that reflects our estimate of our expected credit losses. Our allowance is estimated using a loss rate model based on delinquency. The estimated loss rate is based on our historical experience with specific customers, our understanding of our current economic circumstances, reasonable and supportable forecasts, and our own judgment as to the likelihood of ultimate payment based upon available data. Our largest exposure to doubtful accounts is our rental operations, which as discussed above is accounted for under Topic 842 and as of September 30, 2022 represents 76.3 % of our total revenues and an approximate corresponding percentage of our receivables, net and associated allowance for doubtful accounts. We perform credit evaluations of customers and establish credit limits based on reviews of our customers’ current credit information and payment histories. We believe our credit risk is somewhat mitigated by our geographically diverse customer base and our credit evaluation procedures. The actual rate of future credit losses, however, may not be similar to past experience. Our estimate of doubtful accounts could change based on changing circumstances, including changes in the economy or in the particular circumstances of individual customers. Accordingly, we may be required to increase or decrease our allowance for doubtful accounts. Bad debt expense as a percentage of total revenues for the nine months ended September 30, 2022 and 2021 were approximately 0.3 % and 0.2 %, respectively. We do not have material contract assets, impairment losses associated therewith, or material contract liabilities associated with contracts with customers. Our contracts with customers do not generally result in material amounts billed to customers in excess of recognizable revenue. We did not recognize material revenues during the three months ended September 30, 2022 and 2021 that was included in the contract liability balance as of the beginning of such periods. Recent Accounting Pronouncements Pronouncements Not Yet Adopted In March 2020, the FASB issued Accounting Standards Update (“ASU”) No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional guidance for a limited time to ease the potential burden in accounting for or recognizing the effects of reference rate reform, particularly, the risk of cessation of the London Interbank Offered Rate (“LIBOR”) on financial reporting. The guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments are elective and are effective upon issuance for all entities through December 31, 2022. The amendments of this ASU should be applied on a prospective basis. We intend to continue to monitor the developments with respect to the planned phase-out out of LIBOR and work with our lenders to seek to ensure any transition away from LIBOR will have minimal impact on our financial condition. However, we can provide no assurances regarding the impact of the discontinuation of LIBOR as there can be no assurances as to whether such replacement or alternative base rate will be more or less favorable than LIBOR. Our exposure related to the expected cessation of LIBOR is limited to the interest expense and certain fees we incur on balances outstanding under our Senior Secured Credit Facility (the “Credit Facility”). As certain U.S. dollar LIBOR settings will continue to be published until June 30, 2023, we amended our Credit Facility on September 14, 2021 to include benchmark language for an upcoming transition away from LIBOR. The potential impact from the cessation of LIBOR as a reference rate, as well as the applicability of ASU 2020-04, is not currently estimable.

Acquisitions and Dispositions

Acquisitions and Dispositions	9 Months Ended
	Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Acquisitions and Dispositions	(3) Acquisitions and Dispositions 2021 Dispositions Crane Sale On July 19, 2021, the Company entered into a definitive agreement to sell its crane business to a wholly-owned subsidiary of The Manitowoc Company, Inc. for $ 130.0 million in cash, which was subject to adjustment based on actual amounts of net working capital and crane rental fleet net book value delivered at transaction closing. The Company executed the transaction closing on October 1, 2021 subject to customary closing conditions, including regulatory approval under the Hart-Scott-Rodino Act, resulting in proceeds of $ 135.9 million, which was subject to the finalization of adjustments. Closing adjustments of $ 1.9 million were recorded as a loss from discontinued operations on the consolidated statement of income during the second quarter of 2022. This disposition represents the Company’s strategic shift to a pure-play rental business. In accordance with ASC 360, Property, Plant, and Equipment, the Company ceased recording depreciation and amortization for Crane Sale related rental fleet, property, plant and equipment, and right of use lease assets upon qualifying as held for sale. In accordance with ASC 205-20, the Company determined that discontinued operations presentation was met during the third quarter of fiscal year 2021. As part of the divestiture, we entered into a transition services agreement with the buyer to assist them in the transition of certain functions, including, but not limited to, information technology, accounting and human resources for a period of sixty days up to six months . Aside from these customary transition services, there will be no continuing involvement with the crane business after its disposal. The Company reported financial results of the crane business within all of our segments: equipment rentals, used equipment sales, new equipment sales, parts sales and service revenues. Additionally, the crane business was included within the equipment rental component 2, used equipment sales, new equipment sales, parts sales and service revenues goodwill reporting units. As a result of the agreement to sell the Company’s crane business, its results are reported separately as discontinued operations in our consolidated statements of income for all periods presented. As permitted, the Company elected not to adjust the consolidated statements of cash flows to exclude cash flows attributable to discontinued operations. Accordingly, we disclosed the depreciation, capital expenditures and significant operating and investing non-cash items related to the Crane Sale below. The following tables (amounts in thousands) present the Crane Sale results as reported in income (loss) from discontinued operations within our consolidated statements of income. Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Revenues: Equipment rentals $ — $ 3,890 $ — $ 10,321 Used equipment sales — 3,096 — 11,545 New equipment sales — 15,428 — 52,286 Parts sales — 12,668 — 33,268 Services revenues — 7,438 — 20,855 Other — 1,411 — 3,755 Total revenues — 43,931 — 132,030 Cost of revenues: Rental depreciation — — — 3,720 Rental expense — 752 — 1,947 Rental other — 430 — 1,000 — 1,182 — 6,667 Used equipment sales — 2,383 — 8,713 New equipment sales — 13,737 — 46,725 Parts sales — 9,691 — 25,288 Services revenues — 2,474 — 6,767 Other — 898 — 3,168 Total cost of revenues — 30,365 — 97,328 Gross profit — 13,566 — 34,702 Selling, general and administrative expenses — 6,769 — 18,872 Merger and other — 384 132 1,695 Gain on sales of property and equipment, net — — — 49 Income (loss) from discontinued operations — 6,413 ( 132 ) 14,184 Other, net — ( 2 ) ( 1,917 ) 62 Income (loss) before provision (benefit) for income taxes — 6,411 ( 2,049 ) 14,246 Provision (benefit) for income taxes — 1,602 ( 525 ) 3,626 Net income (loss) from discontinued operations $ — $ 4,809 $ ( 1,524 ) $ 10,620 Cash flows from discontinued operations was as follows (amounts in thousands): Nine Months Ended September 30, 2022 2021 Operating activities of discontinued operations: Depreciation and amortization of property and equipment $ — $ 1,083 Depreciation of rental equipment — 3,720 Loss on sale of discontinued operations 1,917 — Gain from sales of property and equipment, net — ( 49 ) Gain from sales of rental equipment, net — ( 2,203 ) Investing activities of discontinued operations: Purchases of rental equipment — ( 2,431 ) Proceeds from sales of property and equipment — 43 Proceeds from sales of rental equipment — 5,929 Arkansas Sale On September 17, 2021, the Company sold our Little Rock, Arkansas and Springdale, Arkansas owned-branches to Bramco, Inc. (“Bramco”) for $ 9.0 million (the “Arkansas Sale”). The Arkansas Sale included the land, building, building improvements, office equipment, furniture and fixtures, and shop equipment for the two branches with a net book value of approximately $ 3.7 mi llion. We recorded a gain of $ 5.3 million within sales from property and equipment, net on the consolidated statement of operations for the quarter ended September 30, 2021. As a condition of closing, we relinquished our territory distribution rights with equipment manufacturers Komatsu, Wirtgen Group and Takeuchi. Our current distribution territory for these two branches includes the entire state of Arkansas, with the exception of five counties in Arkansas (Miller, Lafayette, Columbia, Union and Little River) as these counties are served by our Shreveport, Louisiana branch. The Arkansas Sale did not qualify for discontinued operations as the divestiture does not meet the definition of a component. The Company purchased a site in Little Rock, Arkansas to operate a rental-focused branch location in the area. The branch opening coincided with the sale to Bramco.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	(4) Fair Value of Financial Instruments Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The FASB fair value measurement guidance established a fair value hierarchy that prioritizes the inputs used to measure fair value. The three broad levels of the fair value hierarchy are as follows: Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities Level 2 – Quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly Level 3 – Unobservable inputs for which little or no market data exists, therefore requiring a company to develop its own assumptions The carrying value of financial instruments reported in the accompanying condensed consolidated balance sheets for cash and cash equivalents , accounts receivable, accounts payable and accrued expenses payable and other liabilities approximate fair value due to the immediate or short-term nature or maturity of these financial instruments. The carrying amounts and fair values of our other financial instruments subject to fair value disclosures as of September 30, 2022 and December 31, 2021 are presented in the table below (amounts in thousands). September 30, 2022 Carrying Fair Manufacturer flooring plans payable with interest computed at 6.5 % (Level 3) $ 16,624 $ 13,762 Senior Unsecured Notes due 2028 with interest computed at 3.875 % (Level 2) 1,241,049 994,900 December 31, 2021 Carrying Fair Manufacturer flooring plans payable with interest computed at 3.5 % (Level 3) $ 20,924 $ 19,533 Senior Unsecured Notes due 2028 with interest computed at 3.875 % (Level 2) 1,239,967 1,242,850 At September 30, 2022 and December 31, 2021 , the fair value of our senior unsecured notes due 2028 (the “Senior Unsecured Notes”) was based on quoted bond trading market prices for those notes. For our Level 3 unobservable inputs, we calculate a discount rate for our manufacturing floor plans payable based on the U.S. prime rate plus the applicable margin on our Credit Facility. The discount rate is disclosed in the above table. During the three and nine months ended September 30, 2022 and 2021 , there were no transfers of financial assets or liabilities in or out of Level 3 of the fair value hierarchy.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Stockholders' Equity	(5) Stockholders’ Equity The following table summarizes the activity in Stockholders’ Equity for the three and nine months ended September 30, 2022 and 2021, respectively (amounts in thousands, except share and per share data): Common Stock Additional Total Shares Amount Paid-in Treasury Retained Earnings Stockholders’ Balances at December 31, 2021 40,353,299 $ 403 $ 244,638 $ ( 68,294 ) $ 126,635 $ 303,382 Stock-based compensation — — 1,678 — — 1,678 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 9,851 ) ( 9,851 ) Issuance of common stock, net of restricted stock forfeitures 28,825 — — — — — Repurchase of 8,938 shares of restricted common stock — — — ( 343 ) — ( 343 ) Net income — — — — 16,296 16,296 Balances at March 31, 2022 40,382,124 403 246,316 ( 68,637 ) 133,080 311,162 Stock-based compensation — — 1,311 — — 1,311 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 9,964 ) ( 9,964 ) Restricted stock forfeitures ( 1,816 ) — — — — — Net income — — — — 26,346 26,346 Balances at June 30, 2022 40,380,308 403 247,627 ( 68,637 ) 149,462 328,855 Stock-based compensation — — 1,926 — — 1,926 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 10,145 ) ( 10,145 ) Issuance of common stock, net of restricted stock forfeitures 187,568 2 — — — 2 Repurchase of 37,116 shares of restricted common stock — — — ( 1,288 ) — ( 1,288 ) Net income — — — — 38,376 38,376 Balances at September 30, 2022 40,567,876 $ 405 $ 249,553 $ ( 69,925 ) $ 177,693 $ 357,726 Balances at December 31, 2020 40,242,711 $ 401 $ 240,206 $ ( 66,188 ) $ 63,814 $ 238,233 Stock-based compensation — — 1,601 — — 1,601 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 9,854 ) ( 9,854 ) Issuance of common stock, net of restricted stock forfeitures 45,427 — — — — — Repurchase of 12,624 shares of restricted common stock — — — ( 435 ) — ( 435 ) Net income — — — — 4,151 4,151 Balances at March 31, 2021 40,288,138 401 241,807 ( 66,623 ) 58,111 233,696 Stock-based compensation — — 942 — — 942 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 9,943 ) ( 9,943 ) Restricted stock forfeitures ( 9,295 ) 1 — — — 1 Net income — — — — 15,766 15,766 Balances at June 30, 2021 40,278,843 402 242,749 ( 66,623 ) 63,934 240,462 Stock-based compensation — — 1,057 — — 1,057 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 9,964 ) ( 9,964 ) Issuance of common stock, net of restricted stock forfeitures 75,828 1 — — — 1 Repurchase of 48,852 shares of restricted common stock — — — ( 1,670 ) — ( 1,670 ) Net income — — — — 29,537 29,537 Balances at September 30, 2021 40,354,671 $ 403 $ 243,806 $ ( 68,293 ) $ 83,507 $ 259,423

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	(6) Stock-Based Compensation We account for our stock-based compensation plans using the fair value recognition provisions of ASC 718, Stock Compensation . Stock-based compensation is measured at the grant date, based on the calculated fair value of the award, net of an estimated forfeiture rate, and is recognized as an expense over the requisite employee service period (generally the vesting period of the grant). The estimated forfeiture rate is based on historical experience and revised, if necessary, in subsequent periods for actual forfeitures. There were 999,376 shares available for future stock-based payment awards under our 2016 Stock-Based Incentive Compensation Plan as of September 30, 2022. Non-vested Stock The following table summarizes our non-vested stock activity for the nine months ended September 30, 2022: Number of Weighted Value Non-vested stock at December 31, 2021 480,147 $ 25.56 Granted 281,490 $ 36.07 Vested ( 157,951 ) $ 27.40 Forfeited ( 40,313 ) $ 29.43 Non-vested stock at September 30, 2022 563,373 $ 30.02 As of September 30, 2022 , we had unrecognized compensation expense of approximately $ 13.4 million related to non-vested stock that we expect to be recognized over a weighted-average period of approximately 2.1 years. The following table summarizes compensation expense related to non-vested stock, which is included in selling, general and administrative expenses in the accompanying condensed consolidated statements of income for the three and nine months ended September 30, 2022 and 2021 (amounts in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Compensation expense $ 1,926 $ 1,057 $ 4,915 $ 3,600

Income per Share

Income per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Income per Share	(7) Income per Share Income per common share for the three and nine months ended September 30, 2022 and 2021 is based on the weighted average number of common shares outstanding during the period. The effects of potentially dilutive securities that are anti-dilutive are not included in the computation of dilutive income per share. We include all common shares granted under our incentive compensation plan which remain unvested (“restricted common shares”) and contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid (“participating securities”), in the number of shares outstanding in our basic and diluted EPS calculations using the two-class method. All of our restricted common shares are currently participating securities. Under the two-class method, earnings per common share are computed by dividing the sum of distributed earnings allocated to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding for the period. In applying the two-class method, distributed and undistributed earnings are allocated to both common shares and restricted common shares based on the total weighted average shares outstanding during the period. The number of restricted common shares outstanding was less than 1 % of total outstanding shares for the three and nine months ended September 30, 2022 and 2021 and, consequently, was immaterial to the basic and diluted EPS calculations. Therefore, use of the two-class method had no impact on our basic and diluted EPS calculations for the periods presented. The following table sets forth the computation of basic and diluted net income per common share for the three and nine months ended September 30, 2022 and 2021 (amounts in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Net income from continuing operations $ 38,376 $ 24,728 $ 82,542 $ 38,834 Net income (loss) from discontinued operations — 4,809 ( 1,524 ) 10,620 Net income $ 38,376 $ 29,537 $ 81,018 $ 49,454 Weighted average number of common shares outstanding: Basic 36,462 36,296 36,402 36,232 Effect of dilutive non-vested restricted stock 91 140 142 188 Diluted 36,553 36,436 36,544 36,420 Income (loss) per share: Basic: Continuing operations $ 1.05 $ 0.68 $ 2.27 $ 1.07 Discontinued operations — 0.13 ( 0.04 ) 0.29 Net income (loss) per share $ 1.05 $ 0.81 $ 2.23 $ 1.36 Diluted: Continuing operations $ 1.05 $ 0.68 $ 2.26 $ 1.07 Discontinued operations — 0.13 ( 0.04 ) 0.29 Net income (loss) per share $ 1.05 $ 0.81 $ 2.22 $ 1.36 Common shares excluded from the denominator as anti-dilutive: Non-vested restricted stock 306 91 106 30

Senior Secured Credit Facility

Senior Secured Credit Facility	9 Months Ended
	Sep. 30, 2022
Secured Debt [Member]
Senior Secured Credit Facility	(8) Senior Secured Credit Facility We and our subsidiaries are parties to a $ 750.0 million Credit Facility with Wells Fargo Capital Finance, LLC as administrative agent, and the lenders named therein. For further information related to significant terms of the Credit Facility, see Note 10 to the Company’s Consolidated Financial Statements included as Item 8 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. As of September 30, 2022, we were in compliance with our financial covenants under the Amended and Restated Credit Agreement. At September 30, 2022, we had no amount of borrowings outstanding under the Credit Facility and could borrow up to approximately $ 740.3 million , net of a $ 9.7 million outstanding letter of credit, and remain in compliance with the debt covenants under the Credit Facility.

Senior Unsecured Notes

Senior Unsecured Notes	9 Months Ended
	Sep. 30, 2022
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Senior Secured Credit Facility	(9) Senior Unsecured Note s On December 14, 2020, we completed the offering of our $ 1.25 billion, 3.875 % Senior Unsecured Notes due 2028 . For further information related to significant terms of the Senior Unsecured Notes, see Note 9 to the Company’s Consolidated Financial Statements included as Item 8 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. As of September 30, 2022, we were in compliance with the covenants governing our notes. The following table reconciles our Senior Unsecured Notes to our Condensed Consolidated Balance Sheets (amounts in thousands): Balance at December 31, 2020 $ 1,238,660 Accretion of discount through December 31, 2021 1,172 Additional deferred financing costs through December 31, 2021 ( 135 ) Amortization of deferred financing costs through December 31, 2021 270 Balance at December 31, 2021 $ 1,239,967 Accretion of discount through September 30, 2022 879 Amortization of deferred financing costs through September 30, 2022 203 Balance at September 30, 2022 $ 1,241,049

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	(10) Leases We adopted Topic 842 on January 1, 2019. For a discussion of our adoption of Topic 842 and related disclosures, see Note 2 and Note 11 to the Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2021. At September 30, 2022, as disclosed in our condensed consolidated balance sheet, we had net operating lease right-of-use assets of $ 158.8 million and net finance lease right-of-use assets of $ 1.6 million . Our operating lease liabilities at September 30, 2022 were $ 163.3 million and finance lease liabilities were $ 1.6 million . The weighted average remaining lease term for operating leases was approximately 8.3 years and the weighted average remaining lease term for finance leases was approximately 9.8 years. The weighted average discount rate for operating leases and finance leases was approximately 6.1 % and 5.0 %, respectively. The future minimum lease payments of operating leases executed but not commenced as of September 30, 2022 are estimated to be $ 0.8 million, $ 1.9 million, $ 2.0 million and $ 2.0 million for the years ending December 31, 2023 , 2024, 2025 and 2026, respectively, and $ 16.8 million thereafter. It is expected that the majority of these leases will commence during 2023 .

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Information	(11) Segment Information We have identified five reportable segments: equipment rentals, used equipment sales, new equipment sales, parts sales and services revenues. These segments are based upon revenue streams and how management of the Company allocates resources and assesses performance. Our non-segmented revenues and costs relate primarily to ancillary charges associated with equipment maintenance and repair services, and are not generally allocated to reportable segments. There were no sales between segments for any of the periods presented. Selling, general and administrative expenses as well as all other income and expense items below gross profit are not generally allocated to reportable segments. We do not compile discrete financial information by segments other than the information presented below. The following table presents information about our reportable segments (amounts in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Segment Revenues: Equipment rentals $ 253,564 $ 197,184 $ 680,366 $ 526,014 Used equipment sales 20,300 31,071 60,659 105,746 New equipment sales 23,491 19,355 71,013 70,161 Parts sales 16,745 17,503 48,976 49,939 Services revenues 8,610 8,624 25,633 24,694 Total segmented revenues 322,710 273,737 886,647 776,554 Non-segmented revenues 1,570 1,699 4,754 4,991 Total revenues $ 324,280 $ 275,436 $ 891,401 $ 781,545 Segment Gross Profit: Equipment rentals $ 128,080 $ 90,009 $ 328,213 $ 221,415 Used equipment sales 10,904 11,688 28,844 37,320 New equipment sales 3,242 2,409 10,164 8,585 Parts sales 4,864 4,294 13,559 13,224 Services revenues 5,445 5,624 16,511 16,501 Total segmented gross profit 152,535 114,024 397,291 297,045 Non-segmented gross profit (loss) ( 652 ) ( 116 ) ( 1,494 ) 95 Total gross profit $ 151,883 $ 113,908 $ 395,797 $ 297,140 Balances at September 30, December 31, 2022 2021 Segment identified assets: Equipment sales $ 101,226 $ 62,652 Equipment rentals 1,280,123 1,116,456 Parts and services 16,221 12,647 Total segment identified assets 1,397,570 1,191,755 Non-segment identified assets 821,104 888,692 Total assets $ 2,218,674 $ 2,080,447 The Company operates primarily in the United States and our sales to international customers for the three months ended September 30, 2022 and 2021 were 0.1 % and 0.2 % of total revenues, respectively, and for the nine months ended September 30, 2022 and 2021 were 0.4 % and 0.2 % of total revenues, respectively. No one customer accounted for more than 10% of our revenues on an overall or segment basis for any of the periods presented.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	(12) Subsequent Events Effective October 1, 2022, after the period covered by this report, the Company completed the acquisition of One Source Equipment Rentals, Inc. (“One Source”), by acquiring all of the outstanding equity for a purchase price of $ 130 million in cash, before customary adjustments. One Source is a provider of non-residential construction and industrial equipment and expands our presence with 10 branch locations operating in Illinois, Indiana, Tennessee, Kentucky and Alabama. The acquisition and related fees and expenses were funded using available cash. As of October 20, 2022, a preliminary allocation of the fair value of the One Source purchase price had yet to be completed and consequently, such disclosures in this quarterly report on Form 10-Q is impractical. Disclosure of the allocation of the purchase price to the One Source balance sheet line items and the pro forma presentation reflecting the impact of the acquisition will be disclosed in subsequent filings.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our condensed consolidated financial statements include the financial position and results of operations of H&E Equipment Services, Inc. and its wholly-owned subsidiaries H&E Finance Corp., GNE Investments, Inc., Great Northern Equipment, Inc., H&E California Holding, Inc., H&E Equipment Services (California), LLC and H&E Equipment Services (Mid-Atlantic), Inc., collectively referred to herein as “we”, “us”, “our” or the “Company.” The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such regulations. In the opinion of management, all adjustments (consisting of all normal and recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022, and therefore, the results and trends in these interim condensed consolidated financial statements may not be the same for the entire year. These interim condensed consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended December 31, 2021, from which the consolidated balance sheet amounts as of December 31, 2021 were derived. All significant intercompany accounts and transactions have been eliminated in these condensed consolidated financial statements. On October 1, 2021, the Company sold its crane business (the “Crane Sale”). The results of operations of the Crane Sale are reported in discontinued operations in the Condensed Consolidated Statements of Income for all periods presented. The Condensed Consolidated Statements of Cash Flows include cash flows related to the discontinued operations and accordingly, cash flow amounts for discontinued operations are disclosed in Note 3 “Acquisitions and Dispositions”. All results and information in the consolidated financial statements are presented as continuing operations and exclude the Crane Sale unless otherwise noted specifically as discontinued operations. For additional information, refer to Note 3. The nature of our business is such that short-term obligations are typically met by cash flows generated from long-term assets. Consequently, the accompanying condensed consolidated balance sheets are presented on an unclassified basis.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand and highly liquid investments with an original maturity of three months or less.
Use of Estimates	Use of Estimates We prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America, which requires management to use its judgment to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosures at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. These assumptions and estimates could have a material effect on our condensed consolidated financial statements. Actual results may differ materially from those estimates. We review our estimates on an ongoing basis based on information currently available, and changes in facts and circumstances may cause us to revise these estimates.
Revenue Recognition	Revenue Recognition We recognize revenue in accordance with two different Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) standards: 1) Topic 606 and 2) Topic 842. Under Topic 606, Revenue from Contracts with Customers, revenue is recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Revenue is measured based on the consideration specified in the contract with the customer, and excludes any sales incentives and amounts collected on behalf of third parties. A performance obligation is a promise in a contract to transfer a distinct good or service to a customer. Our contracts with customers generally do not include multiple performance obligations. We recognize revenue when we satisfy a performance obligation by transferring control over a product or service to a customer. The amount of revenue recognized reflects the consideration we expect to be entitled to in exchange for such products or services. Under Topic 842, Leases, we account for equipment rental contracts as operating leases. We recognize revenue from equipment rentals in the period earned, regardless of the timing of billing to customers. A rental contract includes rates for daily, weekly or monthly use, and rental revenues are earned on a daily basis as rental contracts remain outstanding. Because the rental contracts can extend across multiple reporting periods, we record unbilled rental revenues and deferred rental revenues at the end of reporting periods so rental revenues earned is appropriately stated for the periods presented. In the table below, revenues as presented in our condensed consolidated statements of income for the three and nine months ended September 30, 2022 and 2021 are summarized by type and by the applicable accounting standard. Three Months Ended September 30, 2022 2021 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 215,599 $ 86 $ 215,685 $ 166,847 $ 75 $ 166,922 Re-rent revenue 8,441 — 8,441 9,733 — 9,733 Ancillary and other rental revenues: Delivery and pick-up — 15,646 15,646 — 11,005 11,005 Other 13,792 — 13,792 9,524 — 9,524 Total ancillary rental revenues 13,792 15,646 29,438 9,524 11,005 20,529 Total equipment rental revenues 237,832 15,732 253,564 186,104 11,080 197,184 Used equipment sales — 20,300 20,300 — 31,071 31,071 New equipment sales — 23,491 23,491 — 19,355 19,355 Parts sales — 16,745 16,745 — 17,503 17,503 Service revenues — 8,610 8,610 — 8,624 8,624 Other — 1,570 1,570 — 1,699 1,699 Total revenues $ 237,832 $ 86,448 $ 324,280 $ 186,104 $ 89,332 $ 275,436 Nine Months Ended September 30, 2022 2021 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 580,032 $ 272 $ 580,304 $ 444,203 $ 239 $ 444,442 Re-rent revenue 22,247 — 22,247 26,570 — 26,570 Ancillary and other rental revenues: Delivery and pick-up — 40,645 40,645 — 29,487 29,487 Other 37,170 — 37,170 25,515 — 25,515 Total ancillary rental revenues 37,170 40,645 77,815 25,515 29,487 55,002 Total equipment rental revenues 639,449 40,917 680,366 496,288 29,726 526,014 Used equipment sales — 60,659 60,659 — 105,746 105,746 New equipment sales — 71,013 71,013 — 70,161 70,161 Parts sales — 48,976 48,976 — 49,939 49,939 Service revenues — 25,633 25,633 — 24,694 24,694 Other — 4,754 4,754 — 4,991 4,991 Total revenues $ 639,449 $ 251,952 $ 891,401 $ 496,288 $ 285,257 $ 781,545 Revenues by reporting segment are presented in Note 11 of our Condensed Consolidated Financial Statements, using the revenue captions reflected in our consolidated statements of income. We believe that the disaggregation of our revenues from contracts to customers as reflected above, coupled with further discussion below and the reporting segments in Note 11, depict how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors. For further information related to our accounting for revenues pursuant to Topic 606 and Topic 842, see Significant Accounting Policies in Note 2 to our Annual Report on Form 10-K for the year ended December 31, 2021. Receivables and contract assets and liabilities We manage credit risk associated with our accounts receivables at the customer level. Because the same customers typically generate the revenues that are accounted for under both Topic 606 and Topic 842, the discussions below on credit risk and our allowance for doubtful accounts address our total revenues from Topic 606 and Topic 842. We believe concentration of credit risk with respect to our receivables is limited because our customer base is comprised of a large number of geographically diverse customers. No single customer accounted for more than 10% of our revenues on an overall or segment basis for any of the periods presented in this Quarterly Report on Form 10-Q. We manage credit risk through credit approvals, credit limits and other monitoring procedures. Pursuant to Topic 842 and Topic 326 for rental and non-rental receivables, respectively, we maintain an allowance for doubtful accounts that reflects our estimate of our expected credit losses. Our allowance is estimated using a loss rate model based on delinquency. The estimated loss rate is based on our historical experience with specific customers, our understanding of our current economic circumstances, reasonable and supportable forecasts, and our own judgment as to the likelihood of ultimate payment based upon available data. Our largest exposure to doubtful accounts is our rental operations, which as discussed above is accounted for under Topic 842 and as of September 30, 2022 represents 76.3 % of our total revenues and an approximate corresponding percentage of our receivables, net and associated allowance for doubtful accounts. We perform credit evaluations of customers and establish credit limits based on reviews of our customers’ current credit information and payment histories. We believe our credit risk is somewhat mitigated by our geographically diverse customer base and our credit evaluation procedures. The actual rate of future credit losses, however, may not be similar to past experience. Our estimate of doubtful accounts could change based on changing circumstances, including changes in the economy or in the particular circumstances of individual customers. Accordingly, we may be required to increase or decrease our allowance for doubtful accounts. Bad debt expense as a percentage of total revenues for the nine months ended September 30, 2022 and 2021 were approximately 0.3 % and 0.2 %, respectively. We do not have material contract assets, impairment losses associated therewith, or material contract liabilities associated with contracts with customers. Our contracts with customers do not generally result in material amounts billed to customers in excess of recognizable revenue. We did not recognize material revenues during the three months ended September 30, 2022 and 2021 that was included in the contract liability balance as of the beginning of such periods.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Pronouncements Not Yet Adopted In March 2020, the FASB issued Accounting Standards Update (“ASU”) No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional guidance for a limited time to ease the potential burden in accounting for or recognizing the effects of reference rate reform, particularly, the risk of cessation of the London Interbank Offered Rate (“LIBOR”) on financial reporting. The guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments are elective and are effective upon issuance for all entities through December 31, 2022. The amendments of this ASU should be applied on a prospective basis. We intend to continue to monitor the developments with respect to the planned phase-out out of LIBOR and work with our lenders to seek to ensure any transition away from LIBOR will have minimal impact on our financial condition. However, we can provide no assurances regarding the impact of the discontinuation of LIBOR as there can be no assurances as to whether such replacement or alternative base rate will be more or less favorable than LIBOR. Our exposure related to the expected cessation of LIBOR is limited to the interest expense and certain fees we incur on balances outstanding under our Senior Secured Credit Facility (the “Credit Facility”). As certain U.S. dollar LIBOR settings will continue to be published until June 30, 2023, we amended our Credit Facility on September 14, 2021 to include benchmark language for an upcoming transition away from LIBOR. The potential impact from the cessation of LIBOR as a reference rate, as well as the applicability of ASU 2020-04, is not currently estimable.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Revenues by Type and by Applicable Accounting Standard	In the table below, revenues as presented in our condensed consolidated statements of income for the three and nine months ended September 30, 2022 and 2021 are summarized by type and by the applicable accounting standard. Three Months Ended September 30, 2022 2021 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 215,599 $ 86 $ 215,685 $ 166,847 $ 75 $ 166,922 Re-rent revenue 8,441 — 8,441 9,733 — 9,733 Ancillary and other rental revenues: Delivery and pick-up — 15,646 15,646 — 11,005 11,005 Other 13,792 — 13,792 9,524 — 9,524 Total ancillary rental revenues 13,792 15,646 29,438 9,524 11,005 20,529 Total equipment rental revenues 237,832 15,732 253,564 186,104 11,080 197,184 Used equipment sales — 20,300 20,300 — 31,071 31,071 New equipment sales — 23,491 23,491 — 19,355 19,355 Parts sales — 16,745 16,745 — 17,503 17,503 Service revenues — 8,610 8,610 — 8,624 8,624 Other — 1,570 1,570 — 1,699 1,699 Total revenues $ 237,832 $ 86,448 $ 324,280 $ 186,104 $ 89,332 $ 275,436 Nine Months Ended September 30, 2022 2021 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 580,032 $ 272 $ 580,304 $ 444,203 $ 239 $ 444,442 Re-rent revenue 22,247 — 22,247 26,570 — 26,570 Ancillary and other rental revenues: Delivery and pick-up — 40,645 40,645 — 29,487 29,487 Other 37,170 — 37,170 25,515 — 25,515 Total ancillary rental revenues 37,170 40,645 77,815 25,515 29,487 55,002 Total equipment rental revenues 639,449 40,917 680,366 496,288 29,726 526,014 Used equipment sales — 60,659 60,659 — 105,746 105,746 New equipment sales — 71,013 71,013 — 70,161 70,161 Parts sales — 48,976 48,976 — 49,939 49,939 Service revenues — 25,633 25,633 — 24,694 24,694 Other — 4,754 4,754 — 4,991 4,991 Total revenues $ 639,449 $ 251,952 $ 891,401 $ 496,288 $ 285,257 $ 781,545

Acquisitions and Dispositions (

Acquisitions and Dispositions (Tables)	9 Months Ended
	Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Income (Loss) from Discontinued Operations	The following tables (amounts in thousands) present the Crane Sale results as reported in income (loss) from discontinued operations within our consolidated statements of income. Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Revenues: Equipment rentals $ — $ 3,890 $ — $ 10,321 Used equipment sales — 3,096 — 11,545 New equipment sales — 15,428 — 52,286 Parts sales — 12,668 — 33,268 Services revenues — 7,438 — 20,855 Other — 1,411 — 3,755 Total revenues — 43,931 — 132,030 Cost of revenues: Rental depreciation — — — 3,720 Rental expense — 752 — 1,947 Rental other — 430 — 1,000 — 1,182 — 6,667 Used equipment sales — 2,383 — 8,713 New equipment sales — 13,737 — 46,725 Parts sales — 9,691 — 25,288 Services revenues — 2,474 — 6,767 Other — 898 — 3,168 Total cost of revenues — 30,365 — 97,328 Gross profit — 13,566 — 34,702 Selling, general and administrative expenses — 6,769 — 18,872 Merger and other — 384 132 1,695 Gain on sales of property and equipment, net — — — 49 Income (loss) from discontinued operations — 6,413 ( 132 ) 14,184 Other, net — ( 2 ) ( 1,917 ) 62 Income (loss) before provision (benefit) for income taxes — 6,411 ( 2,049 ) 14,246 Provision (benefit) for income taxes — 1,602 ( 525 ) 3,626 Net income (loss) from discontinued operations $ — $ 4,809 $ ( 1,524 ) $ 10,620 Cash flows from discontinued operations was as follows (amounts in thousands): Nine Months Ended September 30, 2022 2021 Operating activities of discontinued operations: Depreciation and amortization of property and equipment $ — $ 1,083 Depreciation of rental equipment — 3,720 Loss on sale of discontinued operations 1,917 — Gain from sales of property and equipment, net — ( 49 ) Gain from sales of rental equipment, net — ( 2,203 ) Investing activities of discontinued operations: Purchases of rental equipment — ( 2,431 ) Proceeds from sales of property and equipment — 43 Proceeds from sales of rental equipment — 5,929

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Estimated Incremental Borrowing Rates for Similar Types of Borrowing Arrangements	The carrying amounts and fair values of our other financial instruments subject to fair value disclosures as of September 30, 2022 and December 31, 2021 are presented in the table below (amounts in thousands). September 30, 2022 Carrying Fair Manufacturer flooring plans payable with interest computed at 6.5 % (Level 3) $ 16,624 $ 13,762 Senior Unsecured Notes due 2028 with interest computed at 3.875 % (Level 2) 1,241,049 994,900 December 31, 2021 Carrying Fair Manufacturer flooring plans payable with interest computed at 3.5 % (Level 3) $ 20,924 $ 19,533 Senior Unsecured Notes due 2028 with interest computed at 3.875 % (Level 2) 1,239,967 1,242,850

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Summary of Activity in Stockholders' Equity	The following table summarizes the activity in Stockholders’ Equity for the three and nine months ended September 30, 2022 and 2021, respectively (amounts in thousands, except share and per share data): Common Stock Additional Total Shares Amount Paid-in Treasury Retained Earnings Stockholders’ Balances at December 31, 2021 40,353,299 $ 403 $ 244,638 $ ( 68,294 ) $ 126,635 $ 303,382 Stock-based compensation — — 1,678 — — 1,678 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 9,851 ) ( 9,851 ) Issuance of common stock, net of restricted stock forfeitures 28,825 — — — — — Repurchase of 8,938 shares of restricted common stock — — — ( 343 ) — ( 343 ) Net income — — — — 16,296 16,296 Balances at March 31, 2022 40,382,124 403 246,316 ( 68,637 ) 133,080 311,162 Stock-based compensation — — 1,311 — — 1,311 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 9,964 ) ( 9,964 ) Restricted stock forfeitures ( 1,816 ) — — — — — Net income — — — — 26,346 26,346 Balances at June 30, 2022 40,380,308 403 247,627 ( 68,637 ) 149,462 328,855 Stock-based compensation — — 1,926 — — 1,926 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 10,145 ) ( 10,145 ) Issuance of common stock, net of restricted stock forfeitures 187,568 2 — — — 2 Repurchase of 37,116 shares of restricted common stock — — — ( 1,288 ) — ( 1,288 ) Net income — — — — 38,376 38,376 Balances at September 30, 2022 40,567,876 $ 405 $ 249,553 $ ( 69,925 ) $ 177,693 $ 357,726 Balances at December 31, 2020 40,242,711 $ 401 $ 240,206 $ ( 66,188 ) $ 63,814 $ 238,233 Stock-based compensation — — 1,601 — — 1,601 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 9,854 ) ( 9,854 ) Issuance of common stock, net of restricted stock forfeitures 45,427 — — — — — Repurchase of 12,624 shares of restricted common stock — — — ( 435 ) — ( 435 ) Net income — — — — 4,151 4,151 Balances at March 31, 2021 40,288,138 401 241,807 ( 66,623 ) 58,111 233,696 Stock-based compensation — — 942 — — 942 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 9,943 ) ( 9,943 ) Restricted stock forfeitures ( 9,295 ) 1 — — — 1 Net income — — — — 15,766 15,766 Balances at June 30, 2021 40,278,843 402 242,749 ( 66,623 ) 63,934 240,462 Stock-based compensation — — 1,057 — — 1,057 Cash dividends declared on common stock ($ 0.275 per share) — — — — ( 9,964 ) ( 9,964 ) Issuance of common stock, net of restricted stock forfeitures 75,828 1 — — — 1 Repurchase of 48,852 shares of restricted common stock — — — ( 1,670 ) — ( 1,670 ) Net income — — — — 29,537 29,537 Balances at September 30, 2021 40,354,671 $ 403 $ 243,806 $ ( 68,293 ) $ 83,507 $ 259,423

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Non-Vested Stock Activity	The following table summarizes our non-vested stock activity for the nine months ended September 30, 2022: Number of Weighted Value Non-vested stock at December 31, 2021 480,147 $ 25.56 Granted 281,490 $ 36.07 Vested ( 157,951 ) $ 27.40 Forfeited ( 40,313 ) $ 29.43 Non-vested stock at September 30, 2022 563,373 $ 30.02
Schedule of Compensation Expense Related to Non-Vested Stock	The following table summarizes compensation expense related to non-vested stock, which is included in selling, general and administrative expenses in the accompanying condensed consolidated statements of income for the three and nine months ended September 30, 2022 and 2021 (amounts in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Compensation expense $ 1,926 $ 1,057 $ 4,915 $ 3,600

Income per Share (Tables)

Income per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Net Income Per Common Share	The following table sets forth the computation of basic and diluted net income per common share for the three and nine months ended September 30, 2022 and 2021 (amounts in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Net income from continuing operations $ 38,376 $ 24,728 $ 82,542 $ 38,834 Net income (loss) from discontinued operations — 4,809 ( 1,524 ) 10,620 Net income $ 38,376 $ 29,537 $ 81,018 $ 49,454 Weighted average number of common shares outstanding: Basic 36,462 36,296 36,402 36,232 Effect of dilutive non-vested restricted stock 91 140 142 188 Diluted 36,553 36,436 36,544 36,420 Income (loss) per share: Basic: Continuing operations $ 1.05 $ 0.68 $ 2.27 $ 1.07 Discontinued operations — 0.13 ( 0.04 ) 0.29 Net income (loss) per share $ 1.05 $ 0.81 $ 2.23 $ 1.36 Diluted: Continuing operations $ 1.05 $ 0.68 $ 2.26 $ 1.07 Discontinued operations — 0.13 ( 0.04 ) 0.29 Net income (loss) per share $ 1.05 $ 0.81 $ 2.22 $ 1.36 Common shares excluded from the denominator as anti-dilutive: Non-vested restricted stock 306 91 106 30

Senior Unsecured Notes (Tables)

Senior Unsecured Notes (Tables)	9 Months Ended
	Sep. 30, 2022
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Reconciliation of Senior Unsecured Notes to Condensed Consolidated Balance Sheets	The following table reconciles our Senior Unsecured Notes to our Condensed Consolidated Balance Sheets (amounts in thousands): Balance at December 31, 2020 $ 1,238,660 Accretion of discount through December 31, 2021 1,172 Additional deferred financing costs through December 31, 2021 ( 135 ) Amortization of deferred financing costs through December 31, 2021 270 Balance at December 31, 2021 $ 1,239,967 Accretion of discount through September 30, 2022 879 Amortization of deferred financing costs through September 30, 2022 203 Balance at September 30, 2022 $ 1,241,049

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of Information about Reportable Segments	The following table presents information about our reportable segments (amounts in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Segment Revenues: Equipment rentals $ 253,564 $ 197,184 $ 680,366 $ 526,014 Used equipment sales 20,300 31,071 60,659 105,746 New equipment sales 23,491 19,355 71,013 70,161 Parts sales 16,745 17,503 48,976 49,939 Services revenues 8,610 8,624 25,633 24,694 Total segmented revenues 322,710 273,737 886,647 776,554 Non-segmented revenues 1,570 1,699 4,754 4,991 Total revenues $ 324,280 $ 275,436 $ 891,401 $ 781,545 Segment Gross Profit: Equipment rentals $ 128,080 $ 90,009 $ 328,213 $ 221,415 Used equipment sales 10,904 11,688 28,844 37,320 New equipment sales 3,242 2,409 10,164 8,585 Parts sales 4,864 4,294 13,559 13,224 Services revenues 5,445 5,624 16,511 16,501 Total segmented gross profit 152,535 114,024 397,291 297,045 Non-segmented gross profit (loss) ( 652 ) ( 116 ) ( 1,494 ) 95 Total gross profit $ 151,883 $ 113,908 $ 395,797 $ 297,140 Balances at September 30, December 31, 2022 2021 Segment identified assets: Equipment sales $ 101,226 $ 62,652 Equipment rentals 1,280,123 1,116,456 Parts and services 16,221 12,647 Total segment identified assets 1,397,570 1,191,755 Non-segment identified assets 821,104 888,692 Total assets $ 2,218,674 $ 2,080,447

Organization and Nature of Op_2

Organization and Nature of Operations - Additional Information (Detail)	Sep. 30, 2022 Branch
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of branch locations	110

Significant Accounting Polici_4

Significant Accounting Policies - Summary of Revenues by Type and by Applicable Accounting Standard (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Revenues	$ 324,280	$ 275,436	$ 891,401	$ 781,545
Topic 842 [Member]
Revenues:
Revenues	237,832	186,104	639,449	496,288
Topic 606 [Member]
Revenues:
Revenues	86,448	89,332	251,952	285,257
Rental Revenues [Member] | Owned Equipment Rentals [Member]
Revenues:
Revenues	215,685	166,922	580,304	444,442
Rental Revenues [Member] | Owned Equipment Rentals [Member] | Topic 842 [Member]
Revenues:
Revenues	215,599	166,847	580,032	444,203
Rental Revenues [Member] | Owned Equipment Rentals [Member] | Topic 606 [Member]
Revenues:
Revenues	86	75	272	239
Rental Revenues [Member] | Re Rent Revenues [Member]
Revenues:
Revenues	8,441	9,733	22,247	26,570
Rental Revenues [Member] | Re Rent Revenues [Member] | Topic 842 [Member]
Revenues:
Revenues	8,441	9,733	22,247	26,570
Ancillary And Other Rental Revenues [Member]
Revenues:
Revenues	29,438	20,529	77,815	55,002
Ancillary And Other Rental Revenues [Member] | Topic 842 [Member]
Revenues:
Revenues	13,792	9,524	37,170	25,515
Ancillary And Other Rental Revenues [Member] | Topic 606 [Member]
Revenues:
Revenues	15,646	11,005	40,645	29,487
Ancillary And Other Rental Revenues [Member] | Delivery and Pick-up [Member]
Revenues:
Revenues	15,646	11,005	40,645	29,487
Ancillary And Other Rental Revenues [Member] | Delivery and Pick-up [Member] | Topic 606 [Member]
Revenues:
Revenues	15,646	11,005	40,645	29,487
Ancillary And Other Rental Revenues [Member] | Other [Member]
Revenues:
Revenues	13,792	9,524	37,170	25,515
Ancillary And Other Rental Revenues [Member] | Other [Member] | Topic 842 [Member]
Revenues:
Revenues	13,792	9,524	37,170	25,515
Total Equipment Rental Revenues [Member]
Revenues:
Revenues	253,564	197,184	680,366	526,014
Total Equipment Rental Revenues [Member] | Topic 842 [Member]
Revenues:
Revenues	237,832	186,104	639,449	496,288
Total Equipment Rental Revenues [Member] | Topic 606 [Member]
Revenues:
Revenues	15,732	11,080	40,917	29,726
Used Equipment Sales [Member]
Revenues:
Revenues	20,300	31,071	60,659	105,746
Used Equipment Sales [Member] | Topic 606 [Member]
Revenues:
Revenues	20,300	31,071	60,659	105,746
New Equipment Sales [Member]
Revenues:
Revenues	23,491	19,355	71,013	70,161
New Equipment Sales [Member] | Topic 606 [Member]
Revenues:
Revenues	23,491	19,355	71,013	70,161
Parts Sales [Member]
Revenues:
Revenues	16,745	17,503	48,976	49,939
Parts Sales [Member] | Topic 606 [Member]
Revenues:
Revenues	16,745	17,503	48,976	49,939
Parts and Services [Member]
Revenues:
Revenues	8,610	8,624	25,633	24,694
Parts and Services [Member] | Topic 606 [Member]
Revenues:
Revenues	8,610	8,624	25,633	24,694
Other [Member]
Revenues:
Revenues	1,570	1,699	4,754	4,991
Other [Member] | Topic 606 [Member]
Revenues:
Revenues	$ 1,570	$ 1,699	$ 4,754	$ 4,991

Significant Accounting Polici_5

Significant Accounting Policies - Additional Information (Detail) - Customer	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Summary Of Significant Accounting Policy [Line Items]
Customer accounted for more than 10% of revenue	0	0	0	0
Bad debt expense as a percentage of total revenues			0.30%	0.20%
Customer Concentration Risk [Member] | Revenues [Member] | Topic 842 [Member]
Summary Of Significant Accounting Policy [Line Items]
Percentage of revenue/purchase			76.30%

Acquisitions and Dispositions -

Acquisitions and Dispositions - Additional Information (Detail) $ in Thousands			3 Months Ended		9 Months Ended
	Sep. 17, 2021 USD ($) Branch County	Jul. 19, 2021 USD ($)	Jun. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)
Business Acquisition [Line Items]
Gain on sales of property and equipment, net					$ 2,911	$ 7,000
Crane Business [Member]
Business Acquisition [Line Items]
Proceeds from sale of business		$ 130,000
Proceeds from sale of business subject to finalization of adjustments		$ 135,900
Closing adjustments recorded as loss from discontinued operations			$ 1,900
Sale of business, transaction closing date		Oct. 01, 2021
Crane Business [Member] | Minimum [Member]
Business Acquisition [Line Items]
Period of transition of certain functions		60 days
Crane Business [Member] | Maximum [Member]
Business Acquisition [Line Items]
Period of transition of certain functions		6 months
Arkansas Sale [Member]
Business Acquisition [Line Items]
Proceeds from sale of business	$ 9,000
Gain on sales of property and equipment, net				$ 5,300
Net book value	$ 3,700
Number of branches sold | Branch	2
Arkansas Sale [Member] | Southeast Arkansas [Member]
Business Acquisition [Line Items]
Number of counties excluded in distribution territory | County	5

Acquisitions and Dispositions_2

Acquisitions and Dispositions - Schedule of Income (Loss) from Discontinued Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Cost of revenues:
Income (loss) before provision (benefit) for income taxes		$ 6,411	$ (2,049)	$ 14,246
Provision (benefit) for income taxes		1,602	(525)	3,626
Net income (loss) from discontinued operations	$ 0	4,809	(1,524)	10,620
Crane Business [Member]
Revenues:
Total revenues	0	43,931	0	132,030
Cost of revenues:
Total cost of revenues	0	30,365	0	97,328
Gross profit	0	13,566	0	34,702
Selling, general and administrative expenses	0	6,769	0	18,872
Merger and other	0	384	132	1,695
Gain on sales of property and equipment, net	0	0	0	49
Income (loss) from discontinued operations	0	6,413	(132)	14,184
Other, net	0	(2)	(1,917)	62
Income (loss) before provision (benefit) for income taxes	0	6,411	(2,049)	14,246
Provision (benefit) for income taxes	0	1,602	(525)	3,626
Net income (loss) from discontinued operations	0	4,809	(1,524)	10,620
Crane Business [Member] | Equipment Rentals [Member]
Revenues:
Total revenues	0	3,890	0	10,321
Cost of revenues:
Total cost of revenues	0	1,182	0	6,667
Crane Business [Member] | Equipment Rentals [Member] | Rentals Other [Member]
Cost of revenues:
Total cost of revenues	0	430	0	1,000
Crane Business [Member] | Equipment Rentals [Member] | Rental Depreciation [Member]
Cost of revenues:
Total cost of revenues	0	0	0	3,720
Crane Business [Member] | Equipment Rentals [Member] | Rental Expense [Member]
Cost of revenues:
Total cost of revenues	0	752	0	1,947
Crane Business [Member] | Used Equipment Sales [Member]
Revenues:
Total revenues	0	3,096	0	11,545
Cost of revenues:
Total cost of revenues	0	2,383	0	8,713
Crane Business [Member] | New Equipment Sales [Member]
Revenues:
Total revenues	0	15,428	0	52,286
Cost of revenues:
Total cost of revenues	0	13,737	0	46,725
Crane Business [Member] | Parts Sales [Member]
Revenues:
Total revenues	0	12,668	0	33,268
Cost of revenues:
Total cost of revenues	0	9,691	0	25,288
Crane Business [Member] | Services Revenues [Member]
Revenues:
Total revenues	0	7,438	0	20,855
Cost of revenues:
Total cost of revenues	0	2,474	0	6,767
Crane Business [Member] | Other [Member]
Revenues:
Total revenues	0	1,411	0	3,755
Cost of revenues:
Total cost of revenues	$ 0	$ 898	$ 0	$ 3,168

Acquisitions and Dispositions_3

Acquisitions and Dispositions - Schedule of Cash Flows from Discontinued Operations (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities of discontinued operations:
Loss on sale of discontinued operations	$ 1,917
Crane Business [Member]
Operating activities of discontinued operations:
Depreciation and amortization of property and equipment	0	$ 1,083
Depreciation of rental equipment	0	3,720
Loss on sale of discontinued operations	1,917	0
Gain from sales of property and equipment, net	0	(49)
Gain from sales of rental equipment, net	0	(2,203)
Investing activities of discontinued operations:
Purchases of rental equipment	0	(2,431)
Proceeds from sales of property and equipment	0	43
Proceeds from sales of rental equipment	$ 0	$ 5,929

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Estimated Incremental Borrowing Rates for Similar Types of Borrowing Arrangements (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Level 3 [Member] | Carrying Amount [Member] | Manufacturer Flooring Plans Payable with Interest Computed at 3.5% [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable with interest computed (Level 3)		$ 20,924
Level 3 [Member] | Carrying Amount [Member] | Manufacturer Flooring Plans Payable with Interest Computed at 6.5% [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable with interest computed (Level 3)	$ 16,624
Level 3 [Member] | Fair Value [Member] | Manufacturer Flooring Plans Payable with Interest Computed at 3.5% [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable with interest computed (Level 3)		19,533
Level 3 [Member] | Fair Value [Member] | Manufacturer Flooring Plans Payable with Interest Computed at 6.5% [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable with interest computed (Level 3)	13,762
Level 2 [Member] | Carrying Amount [Member] | Senior Unsecured Notes Due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior Unsecured Notes Fair Value	1,241,049	1,239,967
Level 2 [Member] | Fair Value [Member] | Senior Unsecured Notes Due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior Unsecured Notes Fair Value	$ 994,900	$ 1,242,850

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Estimated Incremental Borrowing Rates for Similar Types of Borrowing Arrangements (Parenthetical) (Detail)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Level 3 [Member] | Carrying Amount [Member] | Manufacturer Flooring Plans Payable with Interest Computed at 3.5% [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable, interest rate		3.50%
Level 3 [Member] | Carrying Amount [Member] | Manufacturer Flooring Plans Payable with Interest Computed at 6.5% [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable, interest rate	6.50%
Level 3 [Member] | Fair Value [Member] | Manufacturer Flooring Plans Payable with Interest Computed at 3.5% [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable, interest rate		3.50%
Level 3 [Member] | Fair Value [Member] | Manufacturer Flooring Plans Payable with Interest Computed at 6.5% [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable, interest rate	6.50%
Level 2 [Member] | Carrying Amount [Member] | Senior Unsecured Notes Due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes, interest rate	3.875%	3.875%
Senior unsecured notes, due year	2028	2028
Level 2 [Member] | Fair Value [Member] | Senior Unsecured Notes Due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes, interest rate	3.875%	3.875%
Senior unsecured notes, due year	2028	2028

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Transfer of financial assets	$ 0	$ 0
Transfer of financial liabilities	$ 0	$ 0
Fair Value [Member] | Level 1 [Member] | Senior Unsecured Notes Due 2028 [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Senior unsecured notes, due year	2028	2028

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Activity in Stockholders' Equity (Detail) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 328,855	$ 311,162	$ 303,382	$ 240,462	$ 233,696	$ 238,233	$ 303,382	$ 238,233
Beginning Balances, shares			40,353,299				40,353,299
Stock-based compensation	1,926	1,311	$ 1,678	1,057	942	1,601
Cash dividends declared on common stock ($0.275 per share)	(10,145)	(9,964)	(9,851)	(9,964)	(9,943)	(9,854)
Issuance of common stock, net of restricted stock forfeitures	2			1
Repurchase of shares of restricted common stock	(1,288)		(343)	(1,670)		(435)
Restricted stock forfeitures					1
Net income	38,376	26,346	16,296	29,537	15,766	4,151	$ 81,018	49,454
Ending Balances	$ 357,726	328,855	311,162	259,423	240,462	233,696	$ 357,726	259,423
Ending Balances, shares	40,567,876						40,567,876
Common Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 403	$ 403	$ 403	$ 402	$ 401	$ 401	$ 403	$ 401
Beginning Balances, shares	40,380,308	40,382,124	40,353,299	40,278,843	40,288,138	40,242,711	40,353,299	40,242,711
Issuance of common stock, net of restricted stock forfeitures	$ 2			$ 1
Issuance of common stock, net of restricted stock forfeitures, shares	187,568		28,825	75,828		45,427
Restricted stock forfeitures					$ 1
Restricted stock forfeitures, shares		(1,816)			(9,295)
Ending Balances	$ 405	$ 403	$ 403	$ 403	$ 402	$ 401	$ 405	$ 403
Ending Balances, shares	40,567,876	40,380,308	40,382,124	40,354,671	40,278,843	40,288,138	40,567,876	40,354,671
Additional Paid-in Capital [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 247,627	$ 246,316	$ 244,638	$ 242,749	$ 241,807	$ 240,206	$ 244,638	$ 240,206
Stock-based compensation	1,926	1,311	1,678	1,057	942	1,601
Ending Balances	249,553	247,627	246,316	243,806	242,749	241,807	249,553	243,806
Treasury Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	(68,637)	(68,637)	(68,294)	(66,623)	(66,623)	(66,188)	(68,294)	(66,188)
Repurchase of shares of restricted common stock	(1,288)		(343)	(1,670)		(435)
Ending Balances	(69,925)	(68,637)	(68,637)	(68,293)	(66,623)	(66,623)	(69,925)	(68,293)
Retained Earnings [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	149,462	133,080	126,635	63,934	58,111	63,814	126,635	63,814
Cash dividends declared on common stock ($0.275 per share)	(10,145)	(9,964)	(9,851)	(9,964)	(9,943)	(9,854)
Net income	38,376	26,346	16,296	29,537	15,766	4,151
Ending Balances	$ 177,693	$ 149,462	$ 133,080	$ 83,507	$ 63,934	$ 58,111	$ 177,693	$ 83,507

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Activity in Stockholders' Equity (Parenthetical) (Detail) - $ / shares	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Schedule of Capitalization, Equity [Line Items]
Cash dividends declared on common stock, per share	$ 0.275			$ 0.275			$ 0.825	$ 0.825
Repurchase of restricted common stock, shares	37,116		8,938	48,852		12,624
Retained Earnings [Member]
Schedule of Capitalization, Equity [Line Items]
Cash dividends declared on common stock, per share	$ 0.275	$ 0.275	$ 0.275	$ 0.275	$ 0.275	$ 0.275

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($) shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense related to non-vested stock | $	$ 13.4
Expected non-vested stock recognized over a weighted-average period	2 years 1 month 6 days
2016 Stock-Based Incentive Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-Based incentive compensation plan | shares	999,376

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Non-Vested Stock Activity (Detail)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Share-Based Payment Arrangement [Abstract]
Non-vested stock, beginning balance, Number of Shares | shares	480,147
Granted, Number of Shares | shares	281,490
Vested, Number of Shares | shares	(157,951)
Forfeited, Number of Shares | shares	(40,313)
Non-vested stock, ending balance, Number of Shares | shares	563,373
Non-vested stock, beginning balance, Weighted Average Grant Date Fair Value | $ / shares	$ 25.56
Granted, Weighted Average Grant Date Fair Value | $ / shares	36.07
Vested, Weighted Average Grant Date Fair Value | $ / shares	27.40
Forfeited, Weighted Average Grant Date Fair Value | $ / shares	29.43
Non-vested stock, ending balance, Weighted Average Grant Date Fair Value | $ / shares	$ 30.02

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Compensation Expense Related to Non-Vested Stock (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-Based Payment Arrangement [Abstract]
Compensation expense	$ 1,926	$ 1,057	$ 4,915	$ 3,600

Income per Share - Additional I

Income per Share - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Restricted common shares, percentage	1%	1%	1%	1%

Income per Share - Summary of C

Income per Share - Summary of Computation of Basic and Diluted Net Income Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Line Items]
Net income from continuing operations	$ 38,376			$ 24,728			$ 82,542	$ 38,834
Net income (loss) from discontinued operations	0			4,809			(1,524)	10,620
Net income	$ 38,376	$ 26,346	$ 16,296	$ 29,537	$ 15,766	$ 4,151	$ 81,018	$ 49,454
Weighted average number of common shares outstanding:
Basic	36,462			36,296			36,402	36,232
Diluted	36,553			36,436			36,544	36,420
Basic:
Continuing operations	$ 1.05			$ 0.68			$ 2.27	$ 1.07
Discontinued operations				0.13			(0.04)	0.29
Net income (loss) per share	1.05			0.81			2.23	1.36
Diluted:
Continuing operations	1.05			0.68			2.26	1.07
Discontinued operations				0.13			(0.04)	0.29
Net income (loss) per share	$ 1.05			$ 0.81			$ 2.22	$ 1.36
Non-vested restricted stock [Member]
Weighted average number of common shares outstanding:
Effect of dilutive non-vested restricted stock	91			140			142	188
Common shares excluded from the denominator as anti-dilutive:
Non-vested restricted stock	306			91			106	30

Senior Secured Credit Facility

Senior Secured Credit Facility - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Wells Fargo Capital Finance, LLC [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Existing credit facility with its lenders		$ 750
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Available borrowings under our senior secured credit facility	$ 740.3
Outstanding letters of credit	$ 9.7

Senior Unsecured Notes - Additi

Senior Unsecured Notes - Additional Information (Detail) - 3.875% Senior Notes [Member] $ in Millions	Dec. 14, 2020 USD ($)
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,250
Senior unsecured notes, interest rate	3.875%
Senior unsecured notes, maturity year	2028

Senior Unsecured Notes - Reconc

Senior Unsecured Notes - Reconciliation of Senior Unsecured Notes to Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Senior unsecured notes, beginning balance	$ 1,239,967
Amortization of deferred financing costs	728	$ 729
Senior unsecured notes, ending balance	1,241,049		$ 1,239,967
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Senior unsecured notes, beginning balance	1,239,967	$ 1,238,660	1,238,660
Senior unsecured notes, ending balance	1,241,049		1,239,967
Senior Unsecured Notes [Member] | 3.875% Senior Notes [Member]
Debt Instrument [Line Items]
Accretion of discount	879		1,172
Additional deferred financing costs			(135)
Amortization of deferred financing costs	$ 203		$ 270

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Net operating lease right-of-use assets	$ 158,833	$ 151,222
Net finance lease right-of-use assets	1,586
Operating lease liabilities	163,322	$ 155,303
Finance lease liabilities	$ 1,619
Weighted average remaining lease term for operating leases	8 years 3 months 18 days
Weighted average remaining lease term for finance leases	9 years 9 months 18 days
Weighted average discount rate for operating leases	6.10%
Weighted average discount rate for finance leases	5%
Future minimum operating lease payments 2023	$ 800
Future minimum operating lease payments 2024	1,900
Future minimum operating lease payments 2025	2,000
Future minimum operating lease payments 2026	2,000
Future minimum operating lease payments thereafter	$ 16,800

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 Customer	Sep. 30, 2021 Customer	Sep. 30, 2022 Customer Segment	Sep. 30, 2021 Customer
Segment Reporting [Abstract]
Number of reportable segment | Segment			5
Sales to international customers	0.10%	0.20%	0.40%	0.20%
Customer accounted for more than 10% of revenue | Customer	0	0	0	0

Segment Information - Schedule

Segment Information - Schedule of Information about Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Segment Revenues:
Revenues	$ 324,280	$ 275,436	$ 891,401	$ 781,545
Segment Gross Profit:
Total gross profit	151,883	113,908	395,797	297,140
Segment identified assets:
Total assets	2,218,674		2,218,674		$ 2,080,447
Equipment Rentals [Member]
Segment Revenues:
Revenues	253,564	197,184	680,366	526,014
Used Equipment Sales [Member]
Segment Revenues:
Revenues	20,300	31,071	60,659	105,746
New Equipment Sales [Member]
Segment Revenues:
Revenues	23,491	19,355	71,013	70,161
Parts Sales [Member]
Segment Revenues:
Revenues	16,745	17,503	48,976	49,939
Services Revenues [Member]
Segment Revenues:
Revenues	8,610	8,624	25,633	24,694
Operating Segments [Member]
Segment Revenues:
Revenues	322,710	273,737	886,647	776,554
Segment Gross Profit:
Total gross profit	152,535	114,024	397,291	297,045
Segment identified assets:
Total assets	1,397,570		1,397,570		1,191,755
Operating Segments [Member] | Equipment Rentals [Member]
Segment Revenues:
Revenues	253,564	197,184	680,366	526,014
Segment Gross Profit:
Total gross profit	128,080	90,009	328,213	221,415
Segment identified assets:
Total assets	1,280,123		1,280,123		1,116,456
Operating Segments [Member] | Used Equipment Sales [Member]
Segment Revenues:
Revenues	20,300	31,071	60,659	105,746
Segment Gross Profit:
Total gross profit	10,904	11,688	28,844	37,320
Segment identified assets:
Total assets	101,226		101,226		62,652
Operating Segments [Member] | New Equipment Sales [Member]
Segment Revenues:
Revenues	23,491	19,355	71,013	70,161
Segment Gross Profit:
Total gross profit	3,242	2,409	10,164	8,585
Operating Segments [Member] | Parts Sales [Member]
Segment Revenues:
Revenues	16,745	17,503	48,976	49,939
Segment Gross Profit:
Total gross profit	4,864	4,294	13,559	13,224
Operating Segments [Member] | Services Revenues [Member]
Segment Revenues:
Revenues	8,610	8,624	25,633	24,694
Segment Gross Profit:
Total gross profit	5,445	5,624	16,511	16,501
Operating Segments [Member] | Parts and Services [Member]
Segment identified assets:
Total assets	16,221		16,221		12,647
Non-Segmented [Member]
Segment Revenues:
Revenues	1,570	1,699	4,754	4,991
Segment Gross Profit:
Total gross profit	(652)	$ (116)	(1,494)	$ 95
Segment identified assets:
Total assets	$ 821,104		$ 821,104		$ 888,692

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) $ in Millions	Oct. 01, 2022 USD ($) Branch	Sep. 30, 2022 Branch
Subsequent Event [Line Items]
Number of branch locations		110
Subsequent Event [Member] | One Source [Member]
Subsequent Event [Line Items]
Base purchase price, before customary adjustments | $	$ 130
Number of branch locations	10