H&E Equipment Services (HEES) 10-Q 30 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 24, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	HEES
Entity Registrant Name	H&E Equipment Services, Inc.
Entity Central Index Key	1,339,605
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		35,254,249

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
ASSETS
Cash	$ 11,861	$ 15,861
Receivables, net of allowance for doubtful accounts of $3,237 and $3,288, respectively	147,808	164,335
Inventories, net of reserves for obsolescence of $738 and $647, respectively	139,663	133,987
Prepaid expenses and other assets	15,245	9,146
Rental equipment, net of accumulated depreciation of $383,127 and $351,841, respectively	895,982	889,706
Property and equipment, net of accumulated depreciation and amortization of $97,870 and $88,376, respectively	110,569	109,908
Deferred financing costs, net of accumulated amortization of $11,622 and $11,111, respectively	4,878	4,664
Goodwill	31,197	31,197
Total assets	1,357,203	1,358,804
Liabilities:
Amounts due on senior secured credit facility	257,118	259,919
Accounts payable	63,846	53,341
Manufacturer flooring plans payable	72,855	93,600
Accrued expenses payable and other liabilities	58,660	60,548
Senior unsecured notes (net of unaccreted discount of $1,202 and $1,286, respectively)	628,798	628,714
Capital leases payable	2,005	2,099
Deferred income taxes	136,972	125,110
Deferred compensation payable	2,140	2,106
Total liabilities	$ 1,222,394	$ 1,225,437
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; 39,129,190 and 39,100,021 shares issued at June 30, 2015 and December 31, 2014, respectively, and 35,254,638 and 35,232,032 shares outstanding at June 30, 2015 and December 31, 2014, respectively	$ 390	$ 390
Additional paid-in capital	219,854	218,349
Treasury stock at cost, 3,874,552 and 3,867,989 shares of common stock held at June 30, 2015 and December 31, 2014, respectively	(59,935)	(59,935)
Retained deficit	(25,500)	(25,437)
Total stockholders' equity	134,809	133,367
Total liabilities and stockholders' equity	$ 1,357,203	$ 1,358,804

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivables	$ 3,237	$ 3,288
Reserves for obsolescence inventories	738	647
Accumulated depreciation, rental equipment	383,127	351,841
Accumulated depreciation and amortization, property and equipment	97,870	88,376
Accumulated amortization, deferred financing costs	11,622	11,111
Unaccreted discount, net	$ 1,202	$ 1,286
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	39,129,190	39,100,021
Common stock, shares outstanding	35,254,638	35,232,032
Treasury stock, shares	3,874,552	3,867,989

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015
Revenues:
Equipment rentals	$ 108,628	$ 210,017
New equipment sales	64,376	108,913
Used equipment sales	28,932	54,002
Parts sales	28,347	55,432
Services revenues	15,769	30,725
Other	16,308	30,681
Total revenues	262,360	489,770
Cost of revenues:
Rental depreciation	40,214	80,158
Rental expense	17,701	33,312
New equipment sales	56,749	96,068
Used equipment sales	19,613	36,499
Parts sales	20,607	40,126
Services revenues	5,158	10,435
Other	15,914	30,428
Total cost of revenues	175,956	327,026
Gross profit	86,404	162,744
Selling, general and administrative expenses	54,414	107,880
Gain on sales of property and equipment, net	972	1,430
Income from operations	32,962	56,294
Other income (expense):
Interest expense	(13,749)	(27,194)
Other, net	228	582
Total other expense, net	(13,521)	(26,612)
Income before income taxes	19,441	29,682
Provision for income taxes	7,961	12,116
Net income	$ 11,480	$ 17,566
Net income per common share:
Basic	$ 0.33	$ 0.50
Diluted	$ 0.33	$ 0.50
Weighted average common shares outstanding:
Basic	35,238	35,232
Diluted	35,314	35,300
Dividends declared per share	$ 0.25	$ 0.50

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ 17,566	$ 23,162
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	11,654	9,718
Depreciation of rental equipment	80,158	68,447
Amortization of deferred financing costs	511	497
Accretion of note discount, net of premium amortization	84	84
Provision for losses on accounts receivable	1,393	1,374
Provision for inventory obsolescence	99	63
Increase in deferred income taxes	11,862	12,249
Stock-based compensation expense	1,505	1,619
Gain from sales of property and equipment, net	(1,430)	(1,420)
Gain from sales of rental equipment, net	(16,774)	(18,172)
Changes in operating assets and liabilities:
Receivables	15,134	(13,940)
Inventories	(47,927)	(76,555)
Prepaid expenses and other assets	(6,099)	(2,781)
Accounts payable	10,505	27,420
Manufacturer flooring plans payable	(20,745)	3,080
Accrued expenses payable and other liabilities	(1,888)	2,975
Deferred compensation payable	34	33
Net cash provided by (used in) operating activities	55,642	37,853
Cash flows from investing activities:
Purchases of property and equipment	(12,872)	(10,572)
Purchases of rental equipment	(71,919)	(161,579)
Proceeds from sales of property and equipment	1,987	1,541
Proceeds from sales of rental equipment	44,411	52,546
Net cash used in investing activities	(38,393)	(118,064)
Cash flows from financing activities:
Excess tax deficiency from stock-based awards		(24)
Borrowings on senior secured credit facility	506,455	590,249
Payments on senior secured credit facility	(509,256)	(519,941)
Payments of deferred financing costs	(725)	(794)
Dividends paid	(17,629)	(708)
Payments of capital lease obligations	(94)	(88)
Net cash provided by (used in) financing activities	(21,249)	68,694
Net decrease in cash	(4,000)	(11,517)
Cash, beginning of period	15,861	17,607
Cash, end of period	11,861	6,090
Noncash asset purchases:
Assets transferred from new and used inventory to rental fleet	42,152	37,428
Cash paid during the period for:
Interest	26,714	24,968
Income taxes paid, net of refunds received	$ 375	$ 2,634

Organization and Nature of Oper

Organization and Nature of Operations	6 Months Ended
	Jun. 30, 2015
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” or “us” or “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 six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015, 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, 2014, from which the consolidated balance sheet amounts as of December 31, 2014 were derived. All significant intercompany accounts and transactions have been eliminated in these condensed consolidated financial statements. Business combinations accounted for as purchases are included in the condensed consolidated financial statements from their respective dates of acquisition. The nature of our business is such that short-term obligations are typically met by cash flows generated from long-term assets. Consequently, and consistent with industry practice, the accompanying condensed consolidated balance sheets are presented on an unclassified basis. Nature of Operations As one of the largest integrated equipment services companies in the United States focused on heavy construction and industrial equipment, we rent, sell and provide parts and service support for four core categories of specialized equipment: (1) hi-lift or aerial work platform equipment; (2) cranes; (3) earthmoving equipment; and (4) industrial lift trucks. By providing equipment sales, rental, on-site parts, and repair and maintenance functions under one roof, we are a one-stop provider for our customers’ varied equipment needs. This full-service approach provides us with multiple points of customer contact, enables us to maintain a high quality rental fleet, as well as an effective distribution channel for fleet disposal, and provides cross-selling

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
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, 2014. During the six month period ended June 30, 2015, there were no significant changes to those accounting policies. 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. Recent Accounting Pronouncements In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers Revenue Recognition In June 2014, the FASB issued ASU No. 2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share-Based In February 2015, FASB issued ASU No. 2015-02, Consolidation (Topic 810). In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs In April 2015, the FASB issued ASU No. 2015-05, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	(3) 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, 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 fair value of our letter of credit is based on fees currently charged for similar agreements. The carrying amounts and fair values of our other financial instruments subject to fair value disclosures as of June 30, 2015 and December 31, 2014 are presented in the table below (amounts in thousands) and have been calculated based upon market quotes and present value calculations based on market rates. June 30, 2015 Carrying Amount Fair Value Manufacturer flooring plans payable with interest computed at 5.25% (Level 3) $ 72,855 $ 64,303 Senior unsecured notes with interest computed at 7.0% (Level 1) 628,798 648,405 Capital leases payable with interest computed at 5.929% to 9.55% (Level 3) 2,005 1,394 Letter of credit (Level 3) — 145 December 31, 2014 Carrying Amount Fair Value Manufacturer flooring plans payable with interest computed at 5.00% (Level 3) $ 93,600 $ 82,021 Senior unsecured notes with interest computed at 7.0% (Level 1) 628,714 648,113 Capital leases payable with interest computed at 5.929% to 9.55% (Level 3) 2,099 1,495 Letter of credit (Level 3) — 130 During the six month periods ended June 30, 2015 and 2014, there were no transfers of financial assets or liabilities in or out of Level 1, Level 2 or Level 3 of the fair value hierarchy.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Stockholders' Equity	(4) Stockholders’ Equity The following table summarizes the activity in Stockholders’ Equity for the six month period ended June 30, 2015 (amounts in thousands, except share data): Common Stock Additional Retained Total Shares Amount Paid-in Capital Treasury Earnings Stockholders’ Balances at December 31, 2014 39,100,021 $ 390 $ 218,349 $ (59,935 ) $ (25,437 ) $ 133,367 Stock-based compensation — — 1,505 — — 1,505 Cash dividends on common stock ($0.50 per share) — — — — (17,629 ) (17,629 ) Issuance of common stock 29,169 — — — — — Net income — — — — 17,566 17,566 Balances at June 30, 2015 39,129,190 $ 390 $ 219,854 $ (59,935 ) $ (25,500 ) $ 134,809

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	(5) Stock-Based Compensation We account for our stock-based compensation plan using the fair value recognition provisions of ASC 718, Stock Compensation (“ASC 718”). Under the provisions of ASC 718, stock-based compensation is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the requisite employee service period (generally the vesting period of the grant). Shares available for future stock-based payment awards under our 2006 Stock-Based Incentive Compensation Plan were 3,508,830 shares as of June 30, 2015. Non-vested Stock The following table summarizes our non-vested stock activity for the six months ended June 30, 2015: Number of Weighted Non-vested stock at December 31, 2014 148,398 $ 27.11 Granted 29,169 $ 19.20 Vested (31,029 ) $ 19.52 Forfeited (6,563 ) $ 29.86 Non-vested stock at June 30, 2015 139,975 $ 27.02 As of June 30, 2015, we had unrecognized compensation expense of approximately $2.1 million related to non-vested stock that we expect to be recognized over a weighted-average period of approximately 1.9 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 six months ended June 30, 2015 and 2014 (amounts in thousands): For the Three Months Ended For the Six Months Ended 2015 2014 2015 2014 Compensation expense $ 484 $ 811 $ 1,505 $ 1,619 Stock Options At June 30, 2015, there is no unrecognized compensation expense as all stock option awards have fully vested. The following table represents stock option activity for the six months ended June 30, 2015: Number of Weighted Average Weighted Average In Years Outstanding options at December 31, 2014 51,000 $ 17.80 Granted — — Exercised — — Canceled, forfeited or expired — — Outstanding options at June 30, 2015 51,000 $ 17.80 1.0 Options exercisable at June 30, 2015 51,000 $ 17.80 1.0 The aggregate intrinsic value of our outstanding and exercisable options at June 30, 2015 was approximately $0.5 million.

Income per Share

Income per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Income per Share	(6) Income per Share Income per common share for the three and six months ended June 30, 2015 and 2014 are 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 only 0.4% of total outstanding shares 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 six months ended June 30, 2015 and 2014 (amounts in thousands, except per share amounts): Three Months Ended Six Months Ended 2015 2014 2015 2014 Basic net income per share: Net income $ 11,480 $ 15,726 $ 17,566 $ 23,162 Weighted average number of common shares of outstanding 35,238 35,111 35,232 35,110 Net income per share of common stock – basic $ 0.33 $ 0.45 $ 0.50 $ 0.66 Diluted net income per share: Net income $ 11,480 $ 15,726 $ 17,566 $ 23,162 Weighted average number of common shares of outstanding 35,238 35,111 35,232 35,110 Effect of dilutive securities: Effect of dilutive stock options 20 24 20 23 Effect of dilutive non-vested restricted stock 56 100 48 94 Weighted average number of common shares of outstanding – diluted 35,314 35,235 35,300 35,227 Net income per share of common stock – diluted $ 0.33 $ 0.45 $ 0.50 $ 0.66 Common shares excluded from the denominator as anti-dilutive: Stock options — — — — Non-vested restricted stock — — — —

Senior Secured Credit Facility

Senior Secured Credit Facility	6 Months Ended
	Jun. 30, 2015
Text Block [Abstract]
Senior Secured Credit Facility	(7) Senior Secured Credit Facility We and our subsidiaries are parties to a $602.5 million senior secured credit facility (the “Credit Facility”) with General Electric Capital Corporation as agent, and the lenders named therein (the “Lenders”). On May 21, 2014, we amended, extended and restated the Credit Facility by entering into the Fourth Amended and Restated Credit Agreement (the “Amended and Restated Credit Agreement”) by and among the Company, Great Northern Equipment, Inc., H&E Equipment Services (California), LLC, the other credit parties named therein, the lenders named therein, General Electric Capital Corporation, as administrative agent, Bank of America, N.A. as co-syndication agent and documentation agent, Wells Fargo Capital Finance, LLC, as co-syndication agent and Deutsche Bank Securities Inc. as joint lead arranger and joint bookrunner. The Amended and Restated Credit Agreement, among other things, (i) extends the maturity date of the Credit Facility from February 29, 2017 to May 21, 2019, (ii) increases the uncommitted incremental revolving capacity from $130 million to $150 million, (iii) permits a like-kind exchange program under Section 1031 of the Internal Revenue Code of 1986, as amended, (iv) provides that the unused commitment fee margin will be either 0.50%, 0.375% or 0.25%, depending on the ratio of the average of the daily closing balances of the aggregate revolving loans, swing line loans and letters of credit outstanding during each month to the aggregate commitments for the revolving loans, swing line loans and letters of credit, (v) lowers the interest rate (a) in the case of index rate revolving loans, to the index rate plus an applicable margin of 0.75% to 1.25% depending on the leverage ratio and (b) in the case of LIBOR revolving loans, to LIBOR plus an applicable margin of 1.75% to 2.25%, depending on the leverage ratio, (vi) lowers the margin applicable to the letter of credit fee to between 1.75% and 2.25%, depending on the leverage ratio, and (vii) permits, under certain conditions, for the payment of dividends and/or stock repurchases or redemptions on the capital stock of the Company of up to $75 million per calendar year and further additionally permits the payment of the special cash dividend of $7.00 per share previously declared by the Company on August 20, 2012 to the holders of outstanding restricted stock of the Company following the declared payment date with such permission not tied to the vesting of such restricted stock (which includes the Company’s payment in June 2014 of all amounts that remained payable to the holders of the restricted stock of the Company with respect to such special dividend that was otherwise payable following the applicable vesting dates in May and July 2014 and 2015). On February 5, 2015, we entered into an amendment of the Credit Facility which, among other things, increased the total amount of revolving loan commitments under the Amended and Restated Credit Agreement from $402.5 million to $602.5 million. As of June 30, 2015, we were in compliance with our financial covenants under the Credit Facility. At June 30, 2015, the Company could borrow up to an additional $338.1 million and remain in compliance with the debt covenants under the Company’s Credit Facility. At June 30, 2015, the interest rate on the Credit Facility was based on a 3.25% U.S. Prime Rate plus 100 basis points and LIBOR plus 200 basis points. The weighted average interest rate at June 30, 2015 was approximately 2.8%. At July 24, 2015, we had $356.1 million of available borrowings under our Credit Facility, net of $7.2 million of outstanding letters of credit.

Senior Unsecured Notes

Senior Unsecured Notes	6 Months Ended
	Jun. 30, 2015
Text Block [Abstract]
Senior Unsecured Notes	(8) Senior Unsecured Notes The following table reconciles our Senior Unsecured Notes to our Condensed Consolidated Balance Sheets (amounts in thousands): Balance at December 31, 2013 $ 628,546 Accretion of discount through December 31, 2014 1,055 Amortization of note premium through December 31, 2014 (887 ) Balance at December 31, 2014 $ 628,714 Accretion of discount through June 30, 2015 528 Amortization of note premium through June 30, 2015 (444 ) Balance at June 30, 2015 $ 628,798

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Information	(9) Segment Information We have identified five reportable segments: equipment rentals, new equipment sales, used equipment sales, parts sales and services revenues. These segments are based upon how management of the Company allocates resources and assesses performance. Non-segmented revenues and non-segmented costs relate to equipment support activities including transportation, hauling, parts freight and damage-waiver charges and are not allocated to the other 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 June 30, Six Months Ended June 30, 2015 2014 2015 2014 Segment Revenues: Equipment rentals $ 108,628 $ 98,814 $ 210,017 $ 185,038 New equipment sales 64,376 90,581 108,913 160,128 Used equipment sales 28,932 31,397 54,002 60,742 Parts sales 28,347 28,371 55,432 54,173 Services revenues 15,769 16,102 30,725 29,750 Total segmented revenues 246,052 265,265 459,089 489,831 Non-segmented revenues 16,308 15,113 30,681 27,776 Total revenues $ 262,360 $ 280,378 $ 489,770 $ 517,607 Segment Gross Profit: Equipment rentals $ 50,713 $ 47,784 $ 96,547 $ 86,786 New equipment sales 7,627 11,168 12,845 18,981 Used equipment sales 9,319 10,341 17,503 19,268 Parts sales 7,740 8,330 15,306 15,850 Services revenues 10,611 10,335 20,290 19,242 Total segmented gross profit 86,010 87,958 162,491 160,127 Non-segmented gross profit 394 1,110 253 1,725 Total gross profit $ 86,404 $ 89,068 $ 162,744 $ 161,852 Balances at June 30, 2015 December 31, 2014 Segment identified assets: Equipment sales $ 117,349 $ 114,664 Equipment rentals 895,982 889,706 Parts and services 22,314 19,324 Total segment identified assets 1,035,645 1,023,694 Non-segment identified assets 321,558 335,110 Total assets $ 1,357,203 $ 1,358,804 The Company operates primarily in the United States and our sales to international customers for the three and six month periods ended June 30, 2015 were 0.6% and 0.7%, respectively, of total revenues compared to 1.5% and 1.6% for the three and six month periods ended June 30, 2014, respectively. No one customer accounted for more than 10% of our revenues on an overall or segment basis for any of the periods presented.

Condensed Consolidating Financi

Condensed Consolidating Financial Information of Guarantor Subsidiaries	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Financial Information of Guarantor Subsidiaries	(10) Condensed Consolidating Financial Information of Guarantor Subsidiaries All of the indebtedness of H&E Equipment Services, Inc. is guaranteed by GNE Investments, Inc. and its wholly-owned wholly-owned The consolidating financial statements of H&E Equipment Services, Inc. and its subsidiaries are included below. The financial statements for H&E Finance Corp. are not included within the consolidating financial statements because H&E Finance Corp. has no assets or operations. CONDENSED CONSOLIDATING BALANCE SHEET As of June 30, 2015 H&E Equipment Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Assets: Cash $ 11,861 $ — $ — $ 11,861 Receivables, net 129,965 17,843 — 147,808 Inventories, net 121,960 17,703 — 139,663 Prepaid expenses and other assets 15,036 209 — 15,245 Rental equipment, net 746,760 149,222 — 895,982 Property and equipment, net 98,575 11,994 — 110,569 Deferred financing costs, net 4,878 — — 4,878 Investment in guarantor subsidiaries 220,016 — (220,016 ) — Goodwill 1,671 29,526 — 31,197 Total assets $ 1,350,722 $ 226,497 $ 220,016 $ 1,357,203 Liabilities and Stockholders’ Equity: Amounts due on senior secured credit facility $ 257,118 $ — $ — $ 257,118 Accounts payable 58,696 5,150 — 63,846 Manufacturer flooring plans payable 72,855 — — 72,855 Accrued expenses payable and other liabilities 59,309 (649 ) — 58,660 Dividends payable 25 (25 ) — — Senior unsecured notes 628,798 — — 628,798 Capital leases payable — 2,005 — 2,005 Deferred income taxes 136,972 — — 136,972 Deferred compensation payable 2,140 — — 2,140 Total liabilities 1,215,913 6,481 — 1,222,394 Stockholders’ equity 134,809 220,016 (220,016 ) 134,809 Total liabilities and stockholders’ equity $ 1,350,722 $ 226,497 $ (220,016 ) $ 1,357,203 CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2014 H&E Equipment Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Assets: Cash $ 15,861 $ — $ — $ 15,861 Receivables, net 137,197 27,138 — 164,335 Inventories, net 123,410 10,577 — 133,987 Prepaid expenses and other assets 9,027 119 — 9,146 Rental equipment, net 748,353 141,353 — 889,706 Property and equipment, net 98,279 11,629 — 109,908 Deferred financing costs, net 4,664 — — 4,664 Investment in guarantor subsidiaries 216,540 — (216,540 ) — Goodwill 1,671 29,526 — 31,197 Total assets $ 1,355,002 $ 220,342 $ (216,540 ) $ 1,358,804 Liabilities and Stockholders’ Equity: Amount due on senior secured credit facility $ 259,919 $ — $ — $ 259,919 Accounts payable 50,661 2,680 — 53,341 Manufacturer flooring plans payable 93,600 — — 93,600 Dividends payable 23 (23 ) — — Accrued expenses payable and other liabilities 61,502 (954 ) — 60,548 Senior unsecured notes 628,714 — — 628,714 Capital leases payable — 2,099 — 2,099 Deferred income taxes 125,110 — — 125,110 Deferred compensation payable 2,106 — — 2,106 Total liabilities 1,221,635 3,802 — 1,225,437 Stockholders’ equity 133,367 216,540 (216,540 ) 133,367 Total liabilities and stockholders’ equity $ 1,355,002 $ 220,342 $ (216,540 ) $ 1,358,804 CONDENSED CONSOLIDATING STATEMENT OF INCOME Three Months Ended June 30, 2015 H&E Equipment Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 89,590 $ 19,038 $ — $ 108,628 New equipment sales 61,564 2,812 — 64,376 Used equipment sales 23,909 5,023 — 28,932 Parts sales 24,303 4,044 — 28,347 Services revenues 13,218 2,551 — 15,769 Other 13,149 3,159 — 16,308 Total revenues 225,733 36,627 — 262,360 Cost of revenues: Rental depreciation 33,542 6,672 — 40,214 Rental expense 14,736 2,965 — 17,701 New equipment sales 54,234 2,515 — 56,749 Used equipment sales 16,389 3,224 — 19,613 Parts sales 17,697 2,910 — 20,607 Services revenues 4,332 826 — 5,158 Other 12,848 3,066 — 15,914 Total cost of revenues 153,778 22,178 — 175,956 Gross profit: Equipment rentals 41,312 9,401 — 50,713 New equipment sales 7,330 297 — 7,627 Used equipment sales 7,520 1,799 — 9,319 Parts sales 6,606 1,134 — 7,740 Services revenues 8,886 1,725 — 10,611 Other 301 93 — 394 Gross profit 71,955 14,449 — 86,404 Selling, general and administrative expenses 45,350 9,064 — 54,414 Equity in earnings of guarantor subsidiaries 1,982 — (1,982 ) — Gain on sales of property and equipment, net 860 112 — 972 Income from operations 29,447 5,497 (1,982 ) 32,962 Other income (expense): Interest expense (10,199 ) (3,550 ) — (13,749 ) Other, net 193 35 — 228 Total other expense, net (10,006 ) (3,515 ) — (13,521 ) Income before income taxes 19,441 1,982 (1,982 ) 19,441 Income tax expense 7,961 — — 7,961 Net income $ 11,480 $ 1,982 $ (1,982 ) $ 11,480 CONDENSED CONSOLIDATING STATEMENT OF INCOME Three Months Ended June 30, 2014 H&E Equipment Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 83,728 $ 15,086 $ — $ 98,814 New equipment sales 80,760 9,821 — 90,581 Used equipment sales 26,062 5,335 — 31,397 Parts sales 24,549 3,822 — 28,371 Services revenues 13,856 2,246 — 16,102 Other 12,600 2,513 — 15,113 Total revenues 241,555 38,823 — 280,378 Cost of revenues: Rental depreciation 30,038 5,411 — 35,449 Rental expense 13,012 2,569 — 15,581 New equipment sales 70,633 8,780 — 79,413 Used equipment sales 17,479 3,577 — 21,056 Parts sales 17,376 2,665 — 20,041 Services revenues 4,942 825 — 5,767 Other 11,526 2,477 — 14,003 Total cost of revenues 165,006 26,304 — 191,310 Gross profit: Equipment rentals 40,678 7,106 — 47,784 New equipment sales 10,127 1,041 — 11,168 Used equipment sales 8,583 1,758 — 10,341 Parts sales 7,173 1,157 — 8,330 Services revenues 8,914 1,421 — 10,335 Other 1,074 36 — 1,110 Gross profit 76,549 12,519 — 89,068 Selling, general and administrative expenses 43,695 8,188 — 51,883 Equity in earnings of guarantor subsidiaries 1,613 — (1,613 ) — Gain on sales of property and equipment, net 642 115 — 757 Income from operations 35,109 4,446 (1,613 ) 37,942 Other income (expense): Interest expense (10,034 ) (2,888 ) — (12,922 ) Other, net 289 55 — 344 Total other expense, net (9,745 ) (2,833 ) — (12,578 ) Income before income taxes 25,364 1,613 (1,613 ) 25,364 Income tax expense 9,638 — — 9,638 Net income $ 15,726 $ 1,613 $ (1,613 ) $ 15,726 CONDENSED CONSOLIDATING STATEMENT OF INCOME Six Months Ended June 30, 2015 H&E Equipment Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 174,502 $ 35,515 $ — $ 210,017 New equipment sales 99,346 9,567 — 108,913 Used equipment sales 43,949 10,053 — 54,002 Parts sales 48,086 7,346 — 55,432 Services revenues 26,073 4,652 — 30,725 Other 24,902 5,779 — 30,681 Total revenues 416,858 72,912 — 489,770 Cost of revenues: Rental depreciation 67,042 13,116 — 80,158 Rental expense 27,596 5,716 — 33,312 New equipment sales 87,553 8,515 — 96,068 Used equipment sales 30,171 6,328 — 36,499 Parts sales 34,887 5,239 — 40,126 Services revenues 8,908 1,527 — 10,435 Other 24,555 5,873 — 30,428 Total cost of revenues 280,712 46,314 — 327,026 Gross profit (loss): Equipment rentals 79,864 16,683 — 96,547 New equipment sales 11,793 1,052 — 12,845 Used equipment sales 13,778 3,725 — 17,503 Parts sales 13,199 2,107 — 15,306 Services revenues 17,165 3,125 — 20,290 Other 347 (94 ) — 253 Gross profit 136,146 26,598 — 162,744 Selling, general and administrative expenses 91,157 16,723 — 107,880 Equity in earnings of guarantor subsidiaries 3,359 — (3,359 ) — Gain on sales of property and equipment, net 1,075 355 — 1,430 Income from operations 49,423 10,230 (3,359 ) 56,294 Other income (expense): Interest expense (20,238 ) (6,956 ) — (27,194 ) Other, net 497 85 — 582 Total other expense, net (19,741 ) (6,871 ) — (26,612 ) Income before income taxes 29,682 3,359 (3,359 ) 29,682 Income tax expense 12,116 — — 12,116 Net income $ 17,566 $ 3,359 $ (3,359 ) $ 17,566 CONDENSED CONSOLIDATING STATEMENT OF INCOME Six Months Ended June 30, 2014 H&E Equipment Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 157,173 $ 27,865 $ — $ 185,038 New equipment sales 141,811 18,317 — 160,128 Used equipment sales 47,636 13,106 — 60,742 Parts sales 46,947 7,226 — 54,173 Services revenues 25,427 4,323 — 29,750 Other 23,136 4,640 — 27,776 Total revenues 442,130 75,477 — 517,607 Cost of revenues: Rental depreciation 57,823 10,624 — 68,447 Rental expense 24,951 4,854 — 29,805 New equipment sales 124,759 16,388 — 141,147 Used equipment sales 31,968 9,506 — 41,474 Parts sales 33,288 5,035 — 38,323 Services revenues 8,918 1,590 — 10,508 Other 21,379 4,672 — 26,051 Total cost of revenues 303,086 52,669 — 355,755 Gross profit (loss): Equipment rentals 74,399 12,387 — 86,786 New equipment sales 17,052 1,929 — 18,981 Used equipment sales 15,668 3,600 — 19,268 Parts sales 13,659 2,191 — 15,850 Services revenues 16,509 2,733 — 19,242 Other 1,757 (32 ) — 1,725 Gross profit 139,044 22,808 — 161,852 Selling, general and administrative expenses 84,970 15,769 — 100,739 Equity in earnings of guarantor subsidiaries 1,813 — (1,813 ) — Gain on sales of property and equipment, net 1,155 265 — 1,420 Income from operations 57,042 7,304 (1,813 ) 62,533 Other income (expense): Interest expense (19,985 ) (5,587 ) — (25,572 ) Other, net 554 96 — 650 Total other expense, net (19,431 ) (5,491 ) — (24,922 ) Income before income taxes 37,611 1,813 (1,813 ) 37,611 Income tax expense 14,449 — — 14,449 Net income $ 23,162 $ 1,813 $ (1,813 ) $ 23,162 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2015 H&E Equipment Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Cash flows from operating activities: Net income $ 17,566 $ 3,359 $ (3,359 ) $ 17,566 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization on property and equipment 10,216 1,438 — 11,654 Depreciation of rental equipment 67,042 13,116 — 80,158 Amortization of deferred financing costs 511 — — 511 Accretion of note discount, net of premium amortization 84 — — 84 Provision for losses on accounts receivable 1,225 168 — 1,393 Provision for inventory obsolescence 99 — — 99 Increase in deferred income taxes 11,862 — — 11,862 Stock-based compensation expense 1,505 — — 1,505 Gain from sales of property and equipment, net (1,075 ) (355 ) — (1,430 ) Gain from sales of rental equipment, net (13,060 ) (3,714 ) — (16,774 ) Equity in earnings of guarantor subsidiaries (3,359 ) — 3,359 — Changes in operating assets and liabilities: Receivables 6,007 9,127 — 15,134 Inventories (36,533 ) (11,394 ) — (47,927 ) Prepaid expenses and other assets (6,009 ) (90 ) — (6,099 ) Accounts payable 8,035 2,470 — 10,505 Manufacturer flooring plans payable (20,745 ) — — (20,745 ) Accrued expenses payable and other liabilities (2,193 ) 305 — (1,888 ) Deferred compensation payable 34 — — 34 Net cash provided by operating activities 41,212 14,430 — 55,642 Cash flows from investing activities: Purchases of property and equipment (11,000 ) (1,872 ) — (12,872 ) Purchases of rental equipment (49,051 ) (22,868 ) — (71,919 ) Proceeds from sales of property and equipment 1,563 424 — 1,987 Proceeds from sales of rental equipment 34,546 9,865 — 44,411 Investment in subsidiaries (117 ) — 117 — Net cash used in investing activities. (24,059 ) (14,451 ) 117 (38,393 ) Cash flows from financing activities: Borrowings on senior secured credit facility 506,455 — — 506,455 Payments on senior secured credit facility (509,256 ) — — (509,256 ) Payments of deferred financing costs (725 ) — — (725 ) Dividends paid (17,627 ) (2 ) — (17,629 ) Payments on capital lease obligations — (94 ) — (94 ) Capital contributions — 117 (117 ) — Net cash provided by (used in) financing activities (21,153 ) 21 (117 ) (21,249 ) Net decrease in cash (4,000 ) — — (4,000 ) Cash, beginning of period 15,861 — — 15,861 Cash, end of period $ 11,861 $ — $ — $ 11,861 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2014 H&E Equipment Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Cash flows from operating activities: Net income $ 23,162 $ 1,813 $ (1,813 ) $ 23,162 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation and amortization on property and equipment 8,547 1,171 — 9,718 Depreciation of rental equipment 57,823 10,624 — 68,447 Amortization of deferred financing costs 497 — — 497 Accretion of note discount, net of premium amortization 84 — — 84 Provision for losses on accounts receivable 1,157 217 — 1,374 Provision for inventory obsolescence 63 — — 63 Increase in deferred income taxes 12,249 — — 12,249 Stock-based compensation expense 1,619 — — 1,619 Gain from sales of property and equipment, net (1,155 ) (265 ) — (1,420 ) Gain from sales of rental equipment, net (14,627 ) (3,545 ) — (18,172 ) Equity in earnings of guarantor subsidiaries (1,813 ) — 1,813 — Changes in operating assets and liabilities: Receivables (11,370 ) (2,570 ) — (13,940 ) Inventories (67,639 ) (8,916 ) — (76,555 ) Prepaid expenses and other assets (2,747 ) (34 ) — (2,781 ) Accounts payable 27,130 290 — 27,420 Manufacturer flooring plans payable 3,080 — — 3,080 Accrued expenses payable and other liabilities 2,672 303 — 2,975 Deferred compensation payable 33 — — 33 Net cash provided by (used in) operating activities 38,765 (912 ) — 37,853 Cash flows from investing activities: Purchases of property and equipment (9,596 ) (976 ) — (10,572 ) Purchases of rental equipment (132,476 ) (29,103 ) — (161,579 ) Proceeds from sales of property and equipment 1,276 265 — 1,541 Proceeds from sales of rental equipment 40,659 11,887 — 52,546 Investment in subsidiaries (18,927 ) — 18,927 — Net cash used in investing activities. (119,064 ) (17,927 ) 18,927 (118,064 ) Cash flows from financing activities: Excess tax deficiency from stock-based awards (24 ) — — (24 ) Borrowings on senior secured credit facility 590,249 — — 590,249 Payments on senior secured credit facility (519,941 ) — — (519,941 ) Payments of deferred financing costs (794 ) — — (794 ) Dividends paid (708 ) — — (708 ) Payments on capital lease obligations — (88 ) — (88 ) Capital contributions — 18,927 (18,927 ) — Net cash provided by financing activities 68,782 18,839 (18,927 ) 68,694 Net decrease in cash (11,517 ) — — (11,517 ) Cash, beginning of period 17,607 — — 17,607 Cash, end of period $ 6,090 $ — $ — $ 6,090

Organization and Nature of Op16

Organization and Nature of Operations (Policies)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [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” or “us” or “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 six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015, 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, 2014, from which the consolidated balance sheet amounts as of December 31, 2014 were derived. All significant intercompany accounts and transactions have been eliminated in these condensed consolidated financial statements. Business combinations accounted for as purchases are included in the condensed consolidated financial statements from their respective dates of acquisition. The nature of our business is such that short-term obligations are typically met by cash flows generated from long-term assets. Consequently, and consistent with industry practice, the accompanying condensed consolidated balance sheets are presented on an unclassified basis.
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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers Revenue Recognition In June 2014, the FASB issued ASU No. 2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share-Based In February 2015, FASB issued ASU No. 2015-02, Consolidation (Topic 810). In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs In April 2015, the FASB issued ASU No. 2015-05, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement

Fair Value of Financial Instr17

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
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 June 30, 2015 and December 31, 2014 are presented in the table below (amounts in thousands) and have been calculated based upon market quotes and present value calculations based on market rates. June 30, 2015 Carrying Amount Fair Value Manufacturer flooring plans payable with interest computed at 5.25% (Level 3) $ 72,855 $ 64,303 Senior unsecured notes with interest computed at 7.0% (Level 1) 628,798 648,405 Capital leases payable with interest computed at 5.929% to 9.55% (Level 3) 2,005 1,394 Letter of credit (Level 3) — 145 December 31, 2014 Carrying Amount Fair Value Manufacturer flooring plans payable with interest computed at 5.00% (Level 3) $ 93,600 $ 82,021 Senior unsecured notes with interest computed at 7.0% (Level 1) 628,714 648,113 Capital leases payable with interest computed at 5.929% to 9.55% (Level 3) 2,099 1,495 Letter of credit (Level 3) — 130

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Summary of Activity in Stockholders' Equity	The following table summarizes the activity in Stockholders’ Equity for the six month period ended June 30, 2015 (amounts in thousands, except share data): Common Stock Additional Retained Total Shares Amount Paid-in Capital Treasury Earnings Stockholders’ Balances at December 31, 2014 39,100,021 $ 390 $ 218,349 $ (59,935 ) $ (25,437 ) $ 133,367 Stock-based compensation — — 1,505 — — 1,505 Cash dividends on common stock ($0.50 per share) — — — — (17,629 ) (17,629 ) Issuance of common stock 29,169 — — — — — Net income — — — — 17,566 17,566 Balances at June 30, 2015 39,129,190 $ 390 $ 219,854 $ (59,935 ) $ (25,500 ) $ 134,809

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Non-Vested Stock Activity	The following table summarizes our non-vested stock activity for the six months ended June 30, 2015: Number of Weighted Non-vested stock at December 31, 2014 148,398 $ 27.11 Granted 29,169 $ 19.20 Vested (31,029 ) $ 19.52 Forfeited (6,563 ) $ 29.86 Non-vested stock at June 30, 2015 139,975 $ 27.02
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 six months ended June 30, 2015 and 2014 (amounts in thousands): For the Three Months Ended For the Six Months Ended 2015 2014 2015 2014 Compensation expense $ 484 $ 811 $ 1,505 $ 1,619
Schedule of Share Based Compensation Stock Options Activity	The following table represents stock option activity for the six months ended June 30, 2015: Number of Weighted Average Weighted Average In Years Outstanding options at December 31, 2014 51,000 $ 17.80 Granted — — Exercised — — Canceled, forfeited or expired — — Outstanding options at June 30, 2015 51,000 $ 17.80 1.0 Options exercisable at June 30, 2015 51,000 $ 17.80 1.0

Income per Share (Tables)

Income per Share (Tables)	6 Months Ended
	Jun. 30, 2015
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 six months ended June 30, 2015 and 2014 (amounts in thousands, except per share amounts): Three Months Ended Six Months Ended 2015 2014 2015 2014 Basic net income per share: Net income $ 11,480 $ 15,726 $ 17,566 $ 23,162 Weighted average number of common shares of outstanding 35,238 35,111 35,232 35,110 Net income per share of common stock – basic $ 0.33 $ 0.45 $ 0.50 $ 0.66 Diluted net income per share: Net income $ 11,480 $ 15,726 $ 17,566 $ 23,162 Weighted average number of common shares of outstanding 35,238 35,111 35,232 35,110 Effect of dilutive securities: Effect of dilutive stock options 20 24 20 23 Effect of dilutive non-vested restricted stock 56 100 48 94 Weighted average number of common shares of outstanding – diluted 35,314 35,235 35,300 35,227 Net income per share of common stock – diluted $ 0.33 $ 0.45 $ 0.50 $ 0.66 Common shares excluded from the denominator as anti-dilutive: Stock options — — — — Non-vested restricted stock — — — —

Senior Unsecured Notes (Tables)

Senior Unsecured Notes (Tables)	6 Months Ended
	Jun. 30, 2015
Text Block [Abstract]
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, 2013 $ 628,546 Accretion of discount through December 31, 2014 1,055 Amortization of note premium through December 31, 2014 (887 ) Balance at December 31, 2014 $ 628,714 Accretion of discount through June 30, 2015 528 Amortization of note premium through June 30, 2015 (444 ) Balance at June 30, 2015 $ 628,798

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Information about Reportable Segments	The following table presents information about our reportable segments (amounts in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Segment Revenues: Equipment rentals $ 108,628 $ 98,814 $ 210,017 $ 185,038 New equipment sales 64,376 90,581 108,913 160,128 Used equipment sales 28,932 31,397 54,002 60,742 Parts sales 28,347 28,371 55,432 54,173 Services revenues 15,769 16,102 30,725 29,750 Total segmented revenues 246,052 265,265 459,089 489,831 Non-segmented revenues 16,308 15,113 30,681 27,776 Total revenues $ 262,360 $ 280,378 $ 489,770 $ 517,607 Segment Gross Profit: Equipment rentals $ 50,713 $ 47,784 $ 96,547 $ 86,786 New equipment sales 7,627 11,168 12,845 18,981 Used equipment sales 9,319 10,341 17,503 19,268 Parts sales 7,740 8,330 15,306 15,850 Services revenues 10,611 10,335 20,290 19,242 Total segmented gross profit 86,010 87,958 162,491 160,127 Non-segmented gross profit 394 1,110 253 1,725 Total gross profit $ 86,404 $ 89,068 $ 162,744 $ 161,852 Balances at June 30, 2015 December 31, 2014 Segment identified assets: Equipment sales $ 117,349 $ 114,664 Equipment rentals 895,982 889,706 Parts and services 22,314 19,324 Total segment identified assets 1,035,645 1,023,694 Non-segment identified assets 321,558 335,110 Total assets $ 1,357,203 $ 1,358,804

Condensed Consolidating Finan23

Condensed Consolidating Financial Information of Guarantor Subsidiaries (Tables)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET As of June 30, 2015 H&E Equipment Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Assets: Cash $ 11,861 $ — $ — $ 11,861 Receivables, net 129,965 17,843 — 147,808 Inventories, net 121,960 17,703 — 139,663 Prepaid expenses and other assets 15,036 209 — 15,245 Rental equipment, net 746,760 149,222 — 895,982 Property and equipment, net 98,575 11,994 — 110,569 Deferred financing costs, net 4,878 — — 4,878 Investment in guarantor subsidiaries 220,016 — (220,016 ) — Goodwill 1,671 29,526 — 31,197 Total assets $ 1,350,722 $ 226,497 $ 220,016 $ 1,357,203 Liabilities and Stockholders’ Equity: Amounts due on senior secured credit facility $ 257,118 $ — $ — $ 257,118 Accounts payable 58,696 5,150 — 63,846 Manufacturer flooring plans payable 72,855 — — 72,855 Accrued expenses payable and other liabilities 59,309 (649 ) — 58,660 Dividends payable 25 (25 ) — — Senior unsecured notes 628,798 — — 628,798 Capital leases payable — 2,005 — 2,005 Deferred income taxes 136,972 — — 136,972 Deferred compensation payable 2,140 — — 2,140 Total liabilities 1,215,913 6,481 — 1,222,394 Stockholders’ equity 134,809 220,016 (220,016 ) 134,809 Total liabilities and stockholders’ equity $ 1,350,722 $ 226,497 $ (220,016 ) $ 1,357,203 CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2014 H&E Equipment Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Assets: Cash $ 15,861 $ — $ — $ 15,861 Receivables, net 137,197 27,138 — 164,335 Inventories, net 123,410 10,577 — 133,987 Prepaid expenses and other assets 9,027 119 — 9,146 Rental equipment, net 748,353 141,353 — 889,706 Property and equipment, net 98,279 11,629 — 109,908 Deferred financing costs, net 4,664 — — 4,664 Investment in guarantor subsidiaries 216,540 — (216,540 ) — Goodwill 1,671 29,526 — 31,197 Total assets $ 1,355,002 $ 220,342 $ (216,540 ) $ 1,358,804 Liabilities and Stockholders’ Equity: Amount due on senior secured credit facility $ 259,919 $ — $ — $ 259,919 Accounts payable 50,661 2,680 — 53,341 Manufacturer flooring plans payable 93,600 — — 93,600 Dividends payable 23 (23 ) — — Accrued expenses payable and other liabilities 61,502 (954 ) — 60,548 Senior unsecured notes 628,714 — — 628,714 Capital leases payable — 2,099 — 2,099 Deferred income taxes 125,110 — — 125,110 Deferred compensation payable 2,106 — — 2,106 Total liabilities 1,221,635 3,802 — 1,225,437 Stockholders’ equity 133,367 216,540 (216,540 ) 133,367 Total liabilities and stockholders’ equity $ 1,355,002 $ 220,342 $ (216,540 ) $ 1,358,804
Condensed Consolidating Statement of Income	CONDENSED CONSOLIDATING STATEMENT OF INCOME Three Months Ended June 30, 2015 H&E Equipment Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 89,590 $ 19,038 $ — $ 108,628 New equipment sales 61,564 2,812 — 64,376 Used equipment sales 23,909 5,023 — 28,932 Parts sales 24,303 4,044 — 28,347 Services revenues 13,218 2,551 — 15,769 Other 13,149 3,159 — 16,308 Total revenues 225,733 36,627 — 262,360 Cost of revenues: Rental depreciation 33,542 6,672 — 40,214 Rental expense 14,736 2,965 — 17,701 New equipment sales 54,234 2,515 — 56,749 Used equipment sales 16,389 3,224 — 19,613 Parts sales 17,697 2,910 — 20,607 Services revenues 4,332 826 — 5,158 Other 12,848 3,066 — 15,914 Total cost of revenues 153,778 22,178 — 175,956 Gross profit: Equipment rentals 41,312 9,401 — 50,713 New equipment sales 7,330 297 — 7,627 Used equipment sales 7,520 1,799 — 9,319 Parts sales 6,606 1,134 — 7,740 Services revenues 8,886 1,725 — 10,611 Other 301 93 — 394 Gross profit 71,955 14,449 — 86,404 Selling, general and administrative expenses 45,350 9,064 — 54,414 Equity in earnings of guarantor subsidiaries 1,982 — (1,982 ) — Gain on sales of property and equipment, net 860 112 — 972 Income from operations 29,447 5,497 (1,982 ) 32,962 Other income (expense): Interest expense (10,199 ) (3,550 ) — (13,749 ) Other, net 193 35 — 228 Total other expense, net (10,006 ) (3,515 ) — (13,521 ) Income before income taxes 19,441 1,982 (1,982 ) 19,441 Income tax expense 7,961 — — 7,961 Net income $ 11,480 $ 1,982 $ (1,982 ) $ 11,480 CONDENSED CONSOLIDATING STATEMENT OF INCOME Three Months Ended June 30, 2014 H&E Equipment Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 83,728 $ 15,086 $ — $ 98,814 New equipment sales 80,760 9,821 — 90,581 Used equipment sales 26,062 5,335 — 31,397 Parts sales 24,549 3,822 — 28,371 Services revenues 13,856 2,246 — 16,102 Other 12,600 2,513 — 15,113 Total revenues 241,555 38,823 — 280,378 Cost of revenues: Rental depreciation 30,038 5,411 — 35,449 Rental expense 13,012 2,569 — 15,581 New equipment sales 70,633 8,780 — 79,413 Used equipment sales 17,479 3,577 — 21,056 Parts sales 17,376 2,665 — 20,041 Services revenues 4,942 825 — 5,767 Other 11,526 2,477 — 14,003 Total cost of revenues 165,006 26,304 — 191,310 Gross profit: Equipment rentals 40,678 7,106 — 47,784 New equipment sales 10,127 1,041 — 11,168 Used equipment sales 8,583 1,758 — 10,341 Parts sales 7,173 1,157 — 8,330 Services revenues 8,914 1,421 — 10,335 Other 1,074 36 — 1,110 Gross profit 76,549 12,519 — 89,068 Selling, general and administrative expenses 43,695 8,188 — 51,883 Equity in earnings of guarantor subsidiaries 1,613 — (1,613 ) — Gain on sales of property and equipment, net 642 115 — 757 Income from operations 35,109 4,446 (1,613 ) 37,942 Other income (expense): Interest expense (10,034 ) (2,888 ) — (12,922 ) Other, net 289 55 — 344 Total other expense, net (9,745 ) (2,833 ) — (12,578 ) Income before income taxes 25,364 1,613 (1,613 ) 25,364 Income tax expense 9,638 — — 9,638 Net income $ 15,726 $ 1,613 $ (1,613 ) $ 15,726 CONDENSED CONSOLIDATING STATEMENT OF INCOME Six Months Ended June 30, 2015 H&E Equipment Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 174,502 $ 35,515 $ — $ 210,017 New equipment sales 99,346 9,567 — 108,913 Used equipment sales 43,949 10,053 — 54,002 Parts sales 48,086 7,346 — 55,432 Services revenues 26,073 4,652 — 30,725 Other 24,902 5,779 — 30,681 Total revenues 416,858 72,912 — 489,770 Cost of revenues: Rental depreciation 67,042 13,116 — 80,158 Rental expense 27,596 5,716 — 33,312 New equipment sales 87,553 8,515 — 96,068 Used equipment sales 30,171 6,328 — 36,499 Parts sales 34,887 5,239 — 40,126 Services revenues 8,908 1,527 — 10,435 Other 24,555 5,873 — 30,428 Total cost of revenues 280,712 46,314 — 327,026 Gross profit (loss): Equipment rentals 79,864 16,683 — 96,547 New equipment sales 11,793 1,052 — 12,845 Used equipment sales 13,778 3,725 — 17,503 Parts sales 13,199 2,107 — 15,306 Services revenues 17,165 3,125 — 20,290 Other 347 (94 ) — 253 Gross profit 136,146 26,598 — 162,744 Selling, general and administrative expenses 91,157 16,723 — 107,880 Equity in earnings of guarantor subsidiaries 3,359 — (3,359 ) — Gain on sales of property and equipment, net 1,075 355 — 1,430 Income from operations 49,423 10,230 (3,359 ) 56,294 Other income (expense): Interest expense (20,238 ) (6,956 ) — (27,194 ) Other, net 497 85 — 582 Total other expense, net (19,741 ) (6,871 ) — (26,612 ) Income before income taxes 29,682 3,359 (3,359 ) 29,682 Income tax expense 12,116 — — 12,116 Net income $ 17,566 $ 3,359 $ (3,359 ) $ 17,566 CONDENSED CONSOLIDATING STATEMENT OF INCOME Six Months Ended June 30, 2014 H&E Equipment Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 157,173 $ 27,865 $ — $ 185,038 New equipment sales 141,811 18,317 — 160,128 Used equipment sales 47,636 13,106 — 60,742 Parts sales 46,947 7,226 — 54,173 Services revenues 25,427 4,323 — 29,750 Other 23,136 4,640 — 27,776 Total revenues 442,130 75,477 — 517,607 Cost of revenues: Rental depreciation 57,823 10,624 — 68,447 Rental expense 24,951 4,854 — 29,805 New equipment sales 124,759 16,388 — 141,147 Used equipment sales 31,968 9,506 — 41,474 Parts sales 33,288 5,035 — 38,323 Services revenues 8,918 1,590 — 10,508 Other 21,379 4,672 — 26,051 Total cost of revenues 303,086 52,669 — 355,755 Gross profit (loss): Equipment rentals 74,399 12,387 — 86,786 New equipment sales 17,052 1,929 — 18,981 Used equipment sales 15,668 3,600 — 19,268 Parts sales 13,659 2,191 — 15,850 Services revenues 16,509 2,733 — 19,242 Other 1,757 (32 ) — 1,725 Gross profit 139,044 22,808 — 161,852 Selling, general and administrative expenses 84,970 15,769 — 100,739 Equity in earnings of guarantor subsidiaries 1,813 — (1,813 ) — Gain on sales of property and equipment, net 1,155 265 — 1,420 Income from operations 57,042 7,304 (1,813 ) 62,533 Other income (expense): Interest expense (19,985 ) (5,587 ) — (25,572 ) Other, net 554 96 — 650 Total other expense, net (19,431 ) (5,491 ) — (24,922 ) Income before income taxes 37,611 1,813 (1,813 ) 37,611 Income tax expense 14,449 — — 14,449 Net income $ 23,162 $ 1,813 $ (1,813 ) $ 23,162
Condensed Consolidating Statement of Cash Flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2015 H&E Equipment Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Cash flows from operating activities: Net income $ 17,566 $ 3,359 $ (3,359 ) $ 17,566 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization on property and equipment 10,216 1,438 — 11,654 Depreciation of rental equipment 67,042 13,116 — 80,158 Amortization of deferred financing costs 511 — — 511 Accretion of note discount, net of premium amortization 84 — — 84 Provision for losses on accounts receivable 1,225 168 — 1,393 Provision for inventory obsolescence 99 — — 99 Increase in deferred income taxes 11,862 — — 11,862 Stock-based compensation expense 1,505 — — 1,505 Gain from sales of property and equipment, net (1,075 ) (355 ) — (1,430 ) Gain from sales of rental equipment, net (13,060 ) (3,714 ) — (16,774 ) Equity in earnings of guarantor subsidiaries (3,359 ) — 3,359 — Changes in operating assets and liabilities: Receivables 6,007 9,127 — 15,134 Inventories (36,533 ) (11,394 ) — (47,927 ) Prepaid expenses and other assets (6,009 ) (90 ) — (6,099 ) Accounts payable 8,035 2,470 — 10,505 Manufacturer flooring plans payable (20,745 ) — — (20,745 ) Accrued expenses payable and other liabilities (2,193 ) 305 — (1,888 ) Deferred compensation payable 34 — — 34 Net cash provided by operating activities 41,212 14,430 — 55,642 Cash flows from investing activities: Purchases of property and equipment (11,000 ) (1,872 ) — (12,872 ) Purchases of rental equipment (49,051 ) (22,868 ) — (71,919 ) Proceeds from sales of property and equipment 1,563 424 — 1,987 Proceeds from sales of rental equipment 34,546 9,865 — 44,411 Investment in subsidiaries (117 ) — 117 — Net cash used in investing activities. (24,059 ) (14,451 ) 117 (38,393 ) Cash flows from financing activities: Borrowings on senior secured credit facility 506,455 — — 506,455 Payments on senior secured credit facility (509,256 ) — — (509,256 ) Payments of deferred financing costs (725 ) — — (725 ) Dividends paid (17,627 ) (2 ) — (17,629 ) Payments on capital lease obligations — (94 ) — (94 ) Capital contributions — 117 (117 ) — Net cash provided by (used in) financing activities (21,153 ) 21 (117 ) (21,249 ) Net decrease in cash (4,000 ) — — (4,000 ) Cash, beginning of period 15,861 — — 15,861 Cash, end of period $ 11,861 $ — $ — $ 11,861 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2014 H&E Equipment Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Cash flows from operating activities: Net income $ 23,162 $ 1,813 $ (1,813 ) $ 23,162 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation and amortization on property and equipment 8,547 1,171 — 9,718 Depreciation of rental equipment 57,823 10,624 — 68,447 Amortization of deferred financing costs 497 — — 497 Accretion of note discount, net of premium amortization 84 — — 84 Provision for losses on accounts receivable 1,157 217 — 1,374 Provision for inventory obsolescence 63 — — 63 Increase in deferred income taxes 12,249 — — 12,249 Stock-based compensation expense 1,619 — — 1,619 Gain from sales of property and equipment, net (1,155 ) (265 ) — (1,420 ) Gain from sales of rental equipment, net (14,627 ) (3,545 ) — (18,172 ) Equity in earnings of guarantor subsidiaries (1,813 ) — 1,813 — Changes in operating assets and liabilities: Receivables (11,370 ) (2,570 ) — (13,940 ) Inventories (67,639 ) (8,916 ) — (76,555 ) Prepaid expenses and other assets (2,747 ) (34 ) — (2,781 ) Accounts payable 27,130 290 — 27,420 Manufacturer flooring plans payable 3,080 — — 3,080 Accrued expenses payable and other liabilities 2,672 303 — 2,975 Deferred compensation payable 33 — — 33 Net cash provided by (used in) operating activities 38,765 (912 ) — 37,853 Cash flows from investing activities: Purchases of property and equipment (9,596 ) (976 ) — (10,572 ) Purchases of rental equipment (132,476 ) (29,103 ) — (161,579 ) Proceeds from sales of property and equipment 1,276 265 — 1,541 Proceeds from sales of rental equipment 40,659 11,887 — 52,546 Investment in subsidiaries (18,927 ) — 18,927 — Net cash used in investing activities. (119,064 ) (17,927 ) 18,927 (118,064 ) Cash flows from financing activities: Excess tax deficiency from stock-based awards (24 ) — — (24 ) Borrowings on senior secured credit facility 590,249 — — 590,249 Payments on senior secured credit facility (519,941 ) — — (519,941 ) Payments of deferred financing costs (794 ) — — (794 ) Dividends paid (708 ) — — (708 ) Payments on capital lease obligations — (88 ) — (88 ) Capital contributions — 18,927 (18,927 ) — Net cash provided by financing activities 68,782 18,839 (18,927 ) 68,694 Net decrease in cash (11,517 ) — — (11,517 ) Cash, beginning of period 17,607 — — 17,607 Cash, end of period $ 6,090 $ — $ — $ 6,090

Fair Value of Financial Instr24

Fair Value of Financial Instruments - Estimated Incremental Borrowing Rates for Similar Types of Borrowing Arrangements (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Manufacturer flooring plans payable with interest computed at 5.25% for 2015 and 5.00% for 2014 (Level 3)	$ 72,855	$ 93,600
Senior unsecured notes with interest computed at 7.0% (Level 1)	628,798	628,714	$ 628,546
Capital leases payable with interest computed at 5.929% to 9.55% (Level 3)	2,005	2,099
Carrying Amount [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Manufacturer flooring plans payable with interest computed at 5.25% for 2015 and 5.00% for 2014 (Level 3)	72,855	93,600
Capital leases payable with interest computed at 5.929% to 9.55% (Level 3)	2,005	2,099
Carrying Amount [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior unsecured notes with interest computed at 7.0% (Level 1)	628,798	628,714
Fair Value [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Manufacturer flooring plans payable with interest computed at 5.25% for 2015 and 5.00% for 2014 (Level 3)	64,303	82,021
Capital leases payable with interest computed at 5.929% to 9.55% (Level 3)	1,394	1,495
Letter of credit (Level 3)	145	130
Fair Value [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior unsecured notes with interest computed at 7.0% (Level 1)	$ 648,405	$ 648,113

Fair Value of Financial Instr25

Fair Value of Financial Instruments - Estimated Incremental Borrowing Rates for Similar Types of Borrowing Arrangements (Parenthetical) (Detail)	Jun. 30, 2015	Dec. 31, 2014
Carrying Amount [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Manufacturer flooring plans payable, interest rate	5.25%	5.00%
Capital lease payable, interest rate, minimum	5.929%	5.929%
Capital lease payable interest rate, maximum	9.55%	9.55%
Carrying Amount [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior unsecured notes, interest rate	7.00%	7.00%
Fair Value [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Manufacturer flooring plans payable, interest rate	5.25%	5.00%
Capital lease payable, interest rate, minimum	5.929%	5.929%
Capital lease payable interest rate, maximum	9.55%	9.55%
Fair Value [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior unsecured notes, interest rate	7.00%	7.00%

Fair Value of Financial Instr26

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Fair Value Disclosures [Abstract]
Transfer of financial assets	$ 0	$ 0
Transfer of financial liabilities	$ 0	$ 0

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Activity in Stockholders' Equity (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule of Capitalization, Equity [Line Items]
Beginning balance, value			$ 133,367
Beginning balance, shares			39,100,021
Stock-based compensation			$ 1,505
Cash dividends on common stock			(17,629)
Issuance of common stock, value			0
Net income	$ 11,480	$ 15,726	17,566	$ 23,162
Ending balance, value	$ 134,809		$ 134,809
Ending balance, shares	39,129,190		39,129,190
Common Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning balance, value			$ 390
Beginning balance, shares			39,100,021
Issuance of common stock, value			$ 0
Issuance of common stock, shares			29,169
Ending balance, value	$ 390		$ 390
Ending balance, shares	39,129,190		39,129,190
Additional Paid-in Capital [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning balance, value			$ 218,349
Stock-based compensation			1,505
Issuance of common stock, value			0
Ending balance, value	$ 219,854		219,854
Treasury Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning balance, value			(59,935)
Issuance of common stock, value			0
Ending balance, value	(59,935)		(59,935)
Retained Earnings (Deficit) [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning balance, value			(25,437)
Cash dividends on common stock			(17,629)
Issuance of common stock, value			0
Net income			17,566
Ending balance, value	$ (25,500)		$ (25,500)

Stockholders' Equity - Summar28

Stockholders' Equity - Summary of Activity in Stockholders' Equity (Parenthetical) (Detail)	6 Months Ended
	Jun. 30, 2015$ / shares
Schedule of Capitalization, Equity [Line Items]
Dividend per share paid	$ 0.50
Retained Earnings (Deficit) [Member]
Schedule of Capitalization, Equity [Line Items]
Dividend per share paid	$ 0.50

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - Jun. 30, 2015 - USD ($)	Total
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based incentive compensation plan	3,508,830
Unrecognized compensation expense related to non-vested stock	$ 2,100,000
Expected non-vested stock recognized over a weighted-average period	1 year 10 months 24 days
Unrecognized compensation expense related to stock option awards	$ 0
Aggregate intrinsic value	$ 500,000

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Non-Vested Stock Activity (Detail) - 6 months ended Jun. 30, 2015 - $ / shares	Total
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Nonvested stock, beginning balance, Number of Shares	148,398
Granted, Number of Shares	29,169
Vested, Number of Shares	(31,029)
Forfeited, Number of Shares	(6,563)
Nonvested stock, ending balance, Number of Shares	139,975
Nonvested stock, beginning balance, Weighted Average Grant Date Fair Value	$ 27.11
Granted, Weighted Average Grant Date Fair Value	19.20
Vested, Weighted Average Grant Date Fair Value	19.52
Forfeited, Weighted Average Grant Date Fair Value	29.86
Nonvested stock, ending balance, Weighted Average Grant Date Fair Value	$ 27.02

Stock-Based Compensation - Sc31

Stock-Based Compensation - Schedule of Compensation Expense Related to Non-Vested Stock (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Compensation expense	$ 484	$ 811	$ 1,505	$ 1,619

Stock-Based Compensation - Sc32

Stock-Based Compensation - Schedule of Share Based Compensation Stock Options Activity (Detail) - Jun. 30, 2015 - $ / shares	Total
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options, Outstanding, Number of Shares, Beginning Balance	51,000
Stock Options, Granted, Number of Shares	0
Stock Options, Exercised, Number of Shares	0
Stock Options, Canceled, forfeited or expired, Number of Shares	0
Stock Options, Outstanding, Number of Shares, Ending Balance	51,000
Stock Options, Exercisable, Number of Shares	51,000
Stock Options, Outstanding, Weighted Average Exercise Price, Beginning Balance	$ 17.80
Stock Options, Granted, Weighted Average Exercise Price	0
Stock Options, Exercised, Weighted Average Exercise Price	0
Stock Options, Canceled, forfeited or expired, Weighted Average Exercise Price	0
Stock Options, Outstanding, Weighted Average Exercise Price, Ending Balance	17.80
Stock Options, Exercisable, Weighted Average Exercise Price	$ 17.80
Stock Options, Outstanding, Weighted Average Contractual Life In Years	1 year
Stock Options, Exercisable, Weighted Average Contractual Life In Years	1 year

Income per Share - Additional I

Income per Share - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Restricted common shares, percentage	0.40%

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		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Basic net income per share:
Net income	$ 11,480	$ 15,726	$ 17,566	$ 23,162
Weighted average number of common shares of outstanding	35,238	35,111	35,232	35,110
Net income per share of common stock - basic	$ 0.33	$ 0.45	$ 0.50	$ 0.66
Diluted net income per share:
Net income	$ 11,480	$ 15,726	$ 17,566	$ 23,162
Weighted average number of common shares of outstanding	35,238	35,111	35,232	35,110
Effect of dilutive securities:
Weighted average number of common shares of outstanding - diluted	35,314	35,235	35,300	35,227
Net income per share of common stock - diluted	$ 0.33	$ 0.45	$ 0.50	$ 0.66
Employee Stock Option [Member]
Effect of dilutive securities:
Effect of dilutive stock options and non-vested restricted stock	20	24	20	23
Common shares excluded from the denominator as anti-dilutive:
Common shares excluded from the denominator as anti-dilutive	0	0	0	0
Non-vested Restricted Stock [Member]
Effect of dilutive securities:
Effect of dilutive stock options and non-vested restricted stock	56	100	48	94
Common shares excluded from the denominator as anti-dilutive:
Common shares excluded from the denominator as anti-dilutive	0	0	0	0

Senior Secured Credit Facility

Senior Secured Credit Facility - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jul. 24, 2015	Feb. 05, 2015	May. 21, 2014	May. 20, 2014
Debt Instrument [Line Items]
Existing credit facility with its lenders			$ 402,500,000
Unused commitment fee margin percentage	0.375%
Payment of dividends and/or stock repurchases or redemptions	$ 75,000,000
Debt instrument maturity date description	Extends the maturity date of the Credit Facility from February 29, 2017 to May 21, 2019
Available borrowings under our senior secured credit facility	$ 338,100,000
Debt instrument prime rate plus	3.25%
Weighted average interest rate on the senior secured credit facility	2.80%
Basis points added to U S prime rate	1.00%
Basis points added to LIBOR	2.00%
Credit facility interest rate description	The interest rate on the Credit Facility was based on a 3.25% U.S. Prime Rate plus 100 basis points and LIBOR plus 200 basis points.
Subsequent Event [Member]
Debt Instrument [Line Items]
Available borrowings under our senior secured credit facility		$ 356,100,000
Non-vested Restricted Stock [Member]
Debt Instrument [Line Items]
Payment of special cash dividend per share previously declared by the Company	$ 7
General Electric Capital Corp [Member]
Debt Instrument [Line Items]
Existing credit facility with its lenders	$ 602,500,000
Amended and Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Existing credit facility with its lenders			$ 602,500,000
Credit Facility [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Outstanding letters of credit		$ 7,200,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Uncommitted incremental revolving capacity				$ 150,000,000	$ 130,000,000
Minimum [Member]
Debt Instrument [Line Items]
Unused commitment fee margin percentage	0.25%
Index rate plus an applicable margin Percentage	0.75%
LIBOR plus an applicable margin Percentage	1.75%
Minimum [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Margin rate lowered in applicable to Letter of Credit	1.75%
Maximum [Member]
Debt Instrument [Line Items]
Unused commitment fee margin percentage	0.50%
Index rate plus an applicable margin Percentage	1.25%
LIBOR plus an applicable margin Percentage	2.25%
Maximum [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Margin rate lowered in applicable to Letter of Credit	2.25%

Senior Unsecured Notes - Reconc

Senior Unsecured Notes - Reconciliation of Senior Unsecured Notes to Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Debt Instrument [Line Items]
Senior unsecured notes	$ 628,714	$ 628,546	$ 628,546
Amortization of note premium	(84)	$ (84)
Senior unsecured notes	628,798		628,714
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Accretion of discount	528		1,055
Amortization of note premium	$ (444)		$ (887)

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2015Customer	Jun. 30, 2014Customer	Jun. 30, 2015CustomerSegment	Jun. 30, 2014Customer
Segment Reporting [Abstract]
Number of reportable segment | Segment			5
Sales to international customers	0.60%	1.50%	0.70%	1.60%
Customer accounted for more than 10% of revenue	0	0	0	0

Segment Information - Informati

Segment Information - Information about Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Segment Revenues:
Total revenues	$ 262,360	$ 280,378	$ 489,770	$ 517,607
Segment Gross Profit:
Total gross profit	86,404	89,068	162,744	161,852
Segment identified assets:
Total assets	1,357,203		1,357,203		$ 1,358,804
Used Equipment Sales [Member]
Segment Gross Profit:
Total gross profit	9,319	10,341	17,503	19,268
Equipment Rentals [Member]
Segment Gross Profit:
Total gross profit	50,713	47,784	96,547	86,786
New Equipment Sales [Member]
Segment Gross Profit:
Total gross profit	7,627	11,168	12,845	18,981
Parts Sales [Member]
Segment Gross Profit:
Total gross profit	7,740	8,330	15,306	15,850
Services Revenues [Member]
Segment Gross Profit:
Total gross profit	10,611	10,335	20,290	19,242
Operating Segments [Member]
Segment Revenues:
Total revenues	246,052	265,265	459,089	489,831
Segment Gross Profit:
Total gross profit	86,010	87,958	162,491	160,127
Segment identified assets:
Total assets	1,035,645		1,035,645		1,023,694
Operating Segments [Member] | Used Equipment Sales [Member]
Segment Revenues:
Total revenues	28,932	31,397	54,002	60,742
Segment Gross Profit:
Total gross profit	9,319	10,341	17,503	19,268
Segment identified assets:
Total assets	117,349		117,349		114,664
Operating Segments [Member] | Equipment Rentals [Member]
Segment Revenues:
Total revenues	108,628	98,814	210,017	185,038
Segment Gross Profit:
Total gross profit	50,713	47,784	96,547	86,786
Segment identified assets:
Total assets	895,982		895,982		889,706
Operating Segments [Member] | Parts and Services [Member]
Segment identified assets:
Total assets	22,314		22,314		19,324
Operating Segments [Member] | New Equipment Sales [Member]
Segment Revenues:
Total revenues	64,376	90,581	108,913	160,128
Segment Gross Profit:
Total gross profit	7,627	11,168	12,845	18,981
Operating Segments [Member] | Parts Sales [Member]
Segment Revenues:
Total revenues	28,347	28,371	55,432	54,173
Segment Gross Profit:
Total gross profit	7,740	8,330	15,306	15,850
Operating Segments [Member] | Services Revenues [Member]
Segment Revenues:
Total revenues	15,769	16,102	30,725	29,750
Segment Gross Profit:
Total gross profit	10,611	10,335	20,290	19,242
Non-Segmented [Member]
Segment Revenues:
Total revenues	16,308	15,113	30,681	27,776
Segment Gross Profit:
Total gross profit	394	$ 1,110	253	$ 1,725
Segment identified assets:
Total assets	$ 321,558		$ 321,558		$ 335,110

Condensed Consolidating Finan39

Condensed Consolidating Financial Information of Guarantor Subsidiaries - Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Assets:
Cash	$ 11,861	$ 15,861	$ 6,090	$ 17,607
Receivables, net	147,808	164,335
Inventories, net	139,663	133,987
Prepaid expenses and other assets	15,245	9,146
Rental equipment, net	895,982	889,706
Property and equipment, net	110,569	109,908
Deferred financing costs, net	4,878	4,664
Investment in guarantor subsidiaries	0	0
Goodwill	31,197	31,197
Total assets	1,357,203	1,358,804
Liabilities and Stockholders' Equity:
Amount due on senior secured credit facility	257,118	259,919
Accounts payable	63,846	53,341
Manufacturer flooring plans payable	72,855	93,600
Accrued expenses payable and other liabilities	58,660	60,548
Senior unsecured notes	628,798	628,714		628,546
Capital leases payable	2,005	2,099
Deferred income taxes	136,972	125,110
Deferred compensation payable	2,140	2,106
Total liabilities	1,222,394	1,225,437
Stockholders' equity	134,809	133,367
Total liabilities and stockholders' equity	1,357,203	1,358,804
H & E Equipment Services [Member]
Assets:
Cash	11,861	15,861	$ 6,090	$ 17,607
Receivables, net	129,965	137,197
Inventories, net	121,960	123,410
Prepaid expenses and other assets	15,036	9,027
Rental equipment, net	746,760	748,353
Property and equipment, net	98,575	98,279
Deferred financing costs, net	4,878	4,664
Investment in guarantor subsidiaries	220,016	216,540
Goodwill	1,671	1,671
Total assets	1,350,722	1,355,002
Liabilities and Stockholders' Equity:
Amount due on senior secured credit facility	257,118	259,919
Accounts payable	58,696	50,661
Manufacturer flooring plans payable	72,855	93,600
Accrued expenses payable and other liabilities	59,309	61,502
Dividends payable	25	23
Senior unsecured notes	628,798	628,714
Deferred income taxes	136,972	125,110
Deferred compensation payable	2,140	2,106
Total liabilities	1,215,913	1,221,635
Stockholders' equity	134,809	133,367
Total liabilities and stockholders' equity	1,350,722	1,355,002
Guarantor Subsidiaries [Member]
Assets:
Receivables, net	17,843	27,138
Inventories, net	17,703	10,577
Prepaid expenses and other assets	209	119
Rental equipment, net	149,222	141,353
Property and equipment, net	11,994	11,629
Goodwill	29,526	29,526
Total assets	226,497	220,342
Liabilities and Stockholders' Equity:
Accounts payable	5,150	2,680
Accrued expenses payable and other liabilities	(649)	(954)
Dividends payable	(25)	(23)
Capital leases payable	2,005	2,099
Total liabilities	6,481	3,802
Stockholders' equity	220,016	216,540
Total liabilities and stockholders' equity	226,497	220,342
Elimination [Member]
Assets:
Investment in guarantor subsidiaries	(220,016)	(216,540)
Total assets	220,016	(216,540)
Liabilities and Stockholders' Equity:
Stockholders' equity	(220,016)	(216,540)
Total liabilities and stockholders' equity	$ (220,016)	$ (216,540)

Condensed Consolidating Finan40

Condensed Consolidating Financial Information of Guarantor Subsidiaries - Condensed Consolidating Statement of Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Equipment rentals	$ 108,628	$ 98,814	$ 210,017	$ 185,038
New equipment sales	64,376	90,581	108,913	160,128
Used equipment sales	28,932	31,397	54,002	60,742
Parts sales	28,347	28,371	55,432	54,173
Services revenues	15,769	16,102	30,725	29,750
Other	16,308	15,113	30,681	27,776
Total revenues	262,360	280,378	489,770	517,607
Cost of revenues:
Rental depreciation	40,214	35,449	80,158	68,447
Rental expense	17,701	15,581	33,312	29,805
New equipment sales	56,749	79,413	96,068	141,147
Used equipment sales	19,613	21,056	36,499	41,474
Parts sales	20,607	20,041	40,126	38,323
Services revenues	5,158	5,767	10,435	10,508
Other	15,914	14,003	30,428	26,051
Total cost of revenues	175,956	191,310	327,026	355,755
Gross profit (loss):
Gross profit	86,404	89,068	162,744	161,852
Selling, general and administrative expenses	54,414	51,883	107,880	100,739
Equity in earnings of guarantor subsidiaries		0		0
Gain on sales of property and equipment, net	972	757	1,430	1,420
Income from operations	32,962	37,942	56,294	62,533
Other income (expense):
Interest expense	(13,749)	(12,922)	(27,194)	(25,572)
Other, net	228	344	582	650
Total other expense, net	(13,521)	(12,578)	(26,612)	(24,922)
Income before income taxes	19,441	25,364	29,682	37,611
Income tax expense	7,961	9,638	12,116	14,449
Net income	11,480	15,726	17,566	23,162
Equipment Rentals [Member]
Gross profit (loss):
Gross profit	50,713	47,784	96,547	86,786
New Equipment Sales [Member]
Gross profit (loss):
Gross profit	7,627	11,168	12,845	18,981
Used Equipment Sales [Member]
Gross profit (loss):
Gross profit	9,319	10,341	17,503	19,268
Parts Sales [Member]
Gross profit (loss):
Gross profit	7,740	8,330	15,306	15,850
Services Revenues [Member]
Gross profit (loss):
Gross profit	10,611	10,335	20,290	19,242
H & E Equipment Services [Member]
Revenues:
Equipment rentals	89,590	83,728	174,502	157,173
New equipment sales	61,564	80,760	99,346	141,811
Used equipment sales	23,909	26,062	43,949	47,636
Parts sales	24,303	24,549	48,086	46,947
Services revenues	13,218	13,856	26,073	25,427
Other	13,149	12,600	24,902	23,136
Total revenues	225,733	241,555	416,858	442,130
Cost of revenues:
Rental depreciation	33,542	30,038	67,042	57,823
Rental expense	14,736	13,012	27,596	24,951
New equipment sales	54,234	70,633	87,553	124,759
Used equipment sales	16,389	17,479	30,171	31,968
Parts sales	17,697	17,376	34,887	33,288
Services revenues	4,332	4,942	8,908	8,918
Other	12,848	11,526	24,555	21,379
Total cost of revenues	153,778	165,006	280,712	303,086
Gross profit (loss):
Gross profit	71,955	76,549	136,146	139,044
Selling, general and administrative expenses	45,350	43,695	91,157	84,970
Equity in earnings of guarantor subsidiaries	1,982	1,613	3,359	1,813
Gain on sales of property and equipment, net	860	642	1,075	1,155
Income from operations	29,447	35,109	49,423	57,042
Other income (expense):
Interest expense	(10,199)	(10,034)	(20,238)	(19,985)
Other, net	193	289	497	554
Total other expense, net	(10,006)	(9,745)	(19,741)	(19,431)
Income before income taxes	19,441	25,364	29,682	37,611
Income tax expense	7,961	9,638	12,116	14,449
Net income	11,480	15,726	17,566	23,162
H & E Equipment Services [Member] | Equipment Rentals [Member]
Gross profit (loss):
Gross profit	41,312	40,678	79,864	74,399
H & E Equipment Services [Member] | New Equipment Sales [Member]
Gross profit (loss):
Gross profit	7,330	10,127	11,793	17,052
H & E Equipment Services [Member] | Used Equipment Sales [Member]
Gross profit (loss):
Gross profit	7,520	8,583	13,778	15,668
H & E Equipment Services [Member] | Parts Sales [Member]
Gross profit (loss):
Gross profit	6,606	7,173	13,199	13,659
H & E Equipment Services [Member] | Services Revenues [Member]
Gross profit (loss):
Gross profit	8,886	8,914	17,165	16,509
Guarantor Subsidiaries [Member]
Revenues:
Equipment rentals	19,038	15,086	35,515	27,865
New equipment sales	2,812	9,821	9,567	18,317
Used equipment sales	5,023	5,335	10,053	13,106
Parts sales	4,044	3,822	7,346	7,226
Services revenues	2,551	2,246	4,652	4,323
Other	3,159	2,513	5,779	4,640
Total revenues	36,627	38,823	72,912	75,477
Cost of revenues:
Rental depreciation	6,672	5,411	13,116	10,624
Rental expense	2,965	2,569	5,716	4,854
New equipment sales	2,515	8,780	8,515	16,388
Used equipment sales	3,224	3,577	6,328	9,506
Parts sales	2,910	2,665	5,239	5,035
Services revenues	826	825	1,527	1,590
Other	3,066	2,477	5,873	4,672
Total cost of revenues	22,178	26,304	46,314	52,669
Gross profit (loss):
Gross profit	14,449	12,519	26,598	22,808
Selling, general and administrative expenses	9,064	8,188	16,723	15,769
Gain on sales of property and equipment, net	112	115	355	265
Income from operations	5,497	4,446	10,230	7,304
Other income (expense):
Interest expense	(3,550)	(2,888)	(6,956)	(5,587)
Other, net	35	55	85	96
Total other expense, net	(3,515)	(2,833)	(6,871)	(5,491)
Income before income taxes	1,982	1,613	3,359	1,813
Net income	1,982	1,613	3,359	1,813
Guarantor Subsidiaries [Member] | Equipment Rentals [Member]
Gross profit (loss):
Gross profit	9,401	7,106	16,683	12,387
Guarantor Subsidiaries [Member] | New Equipment Sales [Member]
Gross profit (loss):
Gross profit	297	1,041	1,052	1,929
Guarantor Subsidiaries [Member] | Used Equipment Sales [Member]
Gross profit (loss):
Gross profit	1,799	1,758	3,725	3,600
Guarantor Subsidiaries [Member] | Parts Sales [Member]
Gross profit (loss):
Gross profit	1,134	1,157	2,107	2,191
Guarantor Subsidiaries [Member] | Services Revenues [Member]
Gross profit (loss):
Gross profit	1,725	1,421	3,125	2,733
Other [Member]
Gross profit (loss):
Gross profit	394	1,110	253	1,725
Other [Member] | H & E Equipment Services [Member]
Gross profit (loss):
Gross profit	301	1,074	347	1,757
Other [Member] | Guarantor Subsidiaries [Member]
Gross profit (loss):
Gross profit	93	36	(94)	(32)
Elimination [Member]
Gross profit (loss):
Equity in earnings of guarantor subsidiaries	(1,982)	(1,613)	(3,359)	(1,813)
Income from operations	(1,982)	(1,613)	(3,359)	(1,813)
Other income (expense):
Income before income taxes	(1,982)	(1,613)	(3,359)	(1,813)
Net income	$ (1,982)	$ (1,613)	$ (3,359)	$ (1,813)

Condensed Consolidating Finan41

Condensed Consolidating Financial Information of Guarantor Subsidiaries - Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Cash flows from operating activities:
Net income	$ 11,480	$ 15,726	$ 17,566	$ 23,162
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization on property and equipment			11,654	9,718
Depreciation of rental equipment	40,214	35,449	80,158	68,447
Amortization of deferred financing costs			511	497
Accretion of note discount, net of premium amortization			84	84
Provision for losses on accounts receivable			1,393	1,374
Provision for inventory obsolescence			99	63
Increase in deferred income taxes			11,862	12,249
Stock-based compensation expense	484	811	1,505	1,619
Gain from sales of property and equipment, net	(972)	(757)	(1,430)	(1,420)
Gain from sales of rental equipment, net			(16,774)	(18,172)
Equity in earnings of guarantor subsidiaries		0		0
Changes in operating assets and liabilities:
Receivables			15,134	(13,940)
Inventories			(47,927)	(76,555)
Prepaid expenses and other assets			(6,099)	(2,781)
Accounts payable			10,505	27,420
Manufacturer flooring plans payable			(20,745)	3,080
Accrued expenses payable and other liabilities			(1,888)	2,975
Deferred compensation payable			34	33
Net cash provided by (used in) operating activities			55,642	37,853
Cash flows from investing activities:
Purchases of property and equipment			(12,872)	(10,572)
Purchases of rental equipment			(71,919)	(161,579)
Proceeds from sales of property and equipment			1,987	1,541
Proceeds from sales of rental equipment			44,411	52,546
Net cash used in investing activities			(38,393)	(118,064)
Cash flows from financing activities:
Excess tax deficiency from stock-based awards				(24)
Borrowings on senior secured credit facility			506,455	590,249
Payments on senior secured credit facility			(509,256)	(519,941)
Payments of deferred financing costs			(725)	(794)
Dividends paid			(17,629)	(708)
Payments on capital lease obligations			(94)	(88)
Capital contributions			0	0
Net cash provided by (used in) financing activities			(21,249)	68,694
Net decrease in cash			(4,000)	(11,517)
Cash, beginning of period			15,861	17,607	$ 17,607
Cash, end of period	11,861	6,090	11,861	6,090	15,861
H & E Equipment Services [Member]
Cash flows from operating activities:
Net income	11,480	15,726	17,566	23,162
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization on property and equipment			10,216	8,547
Depreciation of rental equipment	33,542	30,038	67,042	57,823
Amortization of deferred financing costs			511	497
Accretion of note discount, net of premium amortization			84	84
Provision for losses on accounts receivable			1,225	1,157
Provision for inventory obsolescence			99	63
Increase in deferred income taxes			11,862	12,249
Stock-based compensation expense			1,505	1,619
Gain from sales of property and equipment, net	(860)	(642)	(1,075)	(1,155)
Gain from sales of rental equipment, net			(13,060)	(14,627)
Equity in earnings of guarantor subsidiaries	(1,982)	(1,613)	(3,359)	(1,813)
Changes in operating assets and liabilities:
Receivables			6,007	(11,370)
Inventories			(36,533)	(67,639)
Prepaid expenses and other assets			(6,009)	(2,747)
Accounts payable			8,035	27,130
Manufacturer flooring plans payable			(20,745)	3,080
Accrued expenses payable and other liabilities			(2,193)	2,672
Deferred compensation payable			34	33
Net cash provided by (used in) operating activities			41,212	38,765
Cash flows from investing activities:
Purchases of property and equipment			(11,000)	(9,596)
Purchases of rental equipment			(49,051)	(132,476)
Proceeds from sales of property and equipment			1,563	1,276
Proceeds from sales of rental equipment			34,546	40,659
Investment in subsidiaries			(117)	(18,927)
Net cash used in investing activities			(24,059)	(119,064)
Cash flows from financing activities:
Excess tax deficiency from stock-based awards				(24)
Borrowings on senior secured credit facility			506,455	590,249
Payments on senior secured credit facility			(509,256)	(519,941)
Payments of deferred financing costs			(725)	(794)
Dividends paid			(17,627)	(708)
Net cash provided by (used in) financing activities			(21,153)	68,782
Net decrease in cash			(4,000)	(11,517)
Cash, beginning of period			15,861	17,607	17,607
Cash, end of period	11,861	6,090	11,861	6,090	$ 15,861
Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income	1,982	1,613	3,359	1,813
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization on property and equipment			1,438	1,171
Depreciation of rental equipment	6,672	5,411	13,116	10,624
Provision for losses on accounts receivable			168	217
Gain from sales of property and equipment, net	(112)	(115)	(355)	(265)
Gain from sales of rental equipment, net			(3,714)	(3,545)
Changes in operating assets and liabilities:
Receivables			9,127	(2,570)
Inventories			(11,394)	(8,916)
Prepaid expenses and other assets			(90)	(34)
Accounts payable			2,470	290
Accrued expenses payable and other liabilities			305	303
Net cash provided by (used in) operating activities			14,430	(912)
Cash flows from investing activities:
Purchases of property and equipment			(1,872)	(976)
Purchases of rental equipment			(22,868)	(29,103)
Proceeds from sales of property and equipment			424	265
Proceeds from sales of rental equipment			9,865	11,887
Net cash used in investing activities			(14,451)	(17,927)
Cash flows from financing activities:
Dividends paid			(2)
Payments on capital lease obligations			(94)	(88)
Capital contributions			117	18,927
Net cash provided by (used in) financing activities			21	18,839
Elimination [Member]
Cash flows from operating activities:
Net income	(1,982)	(1,613)	(3,359)	(1,813)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in earnings of guarantor subsidiaries	$ 1,982	$ 1,613	3,359	1,813
Cash flows from investing activities:
Investment in subsidiaries			117	18,927
Net cash used in investing activities			117	18,927
Cash flows from financing activities:
Capital contributions			(117)	(18,927)
Net cash provided by (used in) financing activities			$ (117)	$ (18,927)