H&E Equipment Services (HEES) 10-Q 4 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Jul. 28, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Trading Symbol	HEES
Entity Registrant Name	H&E Equipment Services, Inc.
Entity Central Index Key	0001339605
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	000-51759
Entity Tax Identification Number	81-0553291
Entity Address, Address Line One	7500 Pecue Lane
Entity Address, City or Town	Baton Rouge
Entity Address, State or Province	LA
Entity Address, Postal Zip Code	70809
City Area Code	225
Local Phone Number	298-5200
Entity Common Stock, Shares Outstanding		35,913,416
Document Quarterly Report	true
Document Transition Report	false
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock, par value $0.01 per share
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
ASSETS
Cash	$ 6,251	$ 14,247
Receivables, net of allowance for doubtful accounts of $5,001 and $5,236, respectively	146,490	192,204
Inventories, net of reserves for obsolescence of $245 and $331, respectively	79,453	85,478
Prepaid expenses and other assets	18,784	10,262
Rental equipment, net of accumulated depreciation of $709,487 and $676,376, respectively	1,133,857	1,217,673
Property and equipment, net of accumulated depreciation and amortization of $158,592 and $156,782, respectively	126,291	130,564
Operating lease right-of-use assets, net of accumulated amortization of $17,315 and $11,197, respectively	165,529	156,570
Finance lease right-of-use assets, net of accumulated amortization of $2,132 and $2,051, respectively	284	365
Deferred financing costs, net of accumulated amortization of $14,769 and $14,419, respectively	2,507	2,857
Intangible assets, net of accumulated amortization of $8,754 and $6,952, respectively	30,946	32,948
Goodwill	68,851	131,442
Total assets	1,779,243	1,974,610
Liabilities:
Amounts due on senior secured credit facility	67,561	216,879
Accounts payable	72,333	58,853
Manufacturer flooring plans payable	16,677	25,201
Accrued expenses payable and other liabilities	70,467	78,382
Dividends payable	115	171
Senior unsecured notes, net of unaccreted discount of $2,453 and $2,691 and deferred financing costs of $1,589 and $1,743, respectively	945,958	945,566
Operating lease right-of-use liabilities	168,771	159,265
Finance lease right-of-use liabilities	430	550
Deferred income taxes	172,915	180,126
Deferred compensation payable	2,148	2,098
Total liabilities	1,517,375	1,667,091
Commitments and Contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 25,000,000 shares authorized; no shares issued
Common stock, $0.01 par value, 175,000,000 shares authorized; 40,013,557 and 39,921,838 shares issued at June 30, 2020 and December 31, 2019, respectively, and 35,913,416 and 35,848,089 shares outstanding at June 30, 2020 and December 31, 2019, respectively	399	398
Additional paid-in capital	238,500	235,844
Treasury stock at cost, 4,100,141 and 4,073,749 shares of common stock held at June 30, 2020 and December 31, 2019, respectively	(65,253)	(64,783)
Retained earnings	88,222	136,060
Total stockholders’ equity	261,868	307,519
Total liabilities and stockholders’ equity	$ 1,779,243	$ 1,974,610

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts receivables	$ 5,001	$ 5,236
Reserves for obsolescence inventories	245	331
Accumulated depreciation, rental equipment	709,487	676,376
Accumulated depreciation and amortization, property and equipment	158,592	156,782
Accumulated amortization, operating lease right-of-use assets	17,315	11,197
Accumulated amortization, financing lease right-of-use assets	2,132	2,051
Accumulated amortization, deferred financing costs	14,769	14,419
Accumulated amortization, intangible assets	8,754	6,952
Unaccreted discount, net	2,453	2,691
Deferred financing costs	$ 1,589	$ 1,743
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	175,000,000	175,000,000
Common stock, shares issued	40,013,557	39,921,838
Common stock, shares outstanding	35,913,416	35,848,089
Treasury stock, shares	4,100,141	4,073,749

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Revenues	$ 278,336	$ 333,597	$ 564,258	$ 647,235
Cost of revenues:
Cost of revenues	186,266	208,816	366,705	408,754
Gross profit	92,070	124,781	197,553	238,481
Selling, general and administrative expenses	67,861	77,840	147,485	156,487
Impairment of goodwill			61,994
Merger costs	118	148	158	267
Gain on sales of property and equipment, net	2,894	880	7,158	1,621
Income (loss) from operations	26,985	47,673	(4,926)	83,348
Other income (expense):
Interest expense	(15,572)	(17,267)	(31,602)	(34,122)
Other, net	642	489	1,272	1,021
Total other expense, net	(14,930)	(16,778)	(30,330)	(33,101)
Income (loss) before provision (benefit) for income taxes	12,055	30,895	(35,256)	50,247
Provision (benefit) for income taxes	3,240	8,281	(7,103)	13,390
Net income (loss)	$ 8,815	$ 22,614	$ (28,153)	$ 36,857
Net income (loss) per common share:
Basic	$ 0.24	$ 0.63	$ (0.78)	$ 1.03
Diluted	$ 0.24	$ 0.63	$ (0.78)	$ 1.02
Weighted average common shares outstanding:
Basic	36,031	35,826	35,998	35,807
Diluted	36,107	36,016	35,998	35,994
Dividends declared per common share outstanding	$ 0.275	$ 0.275	$ 0.55	$ 0.55
Equipment Rentals [Member]
Revenues:
Revenues	$ 155,794	$ 192,302	$ 330,313	$ 368,431
Cost of revenues:
Cost of revenues	96,646	106,300	199,006	204,491
Gross profit	59,148	86,002	131,307	163,940
Equipment Rentals [Member] | Rentals Other [Member]
Cost of revenues:
Cost of revenues	14,226	17,847	31,031	34,122
Equipment Rentals [Member] | Rental Depreciation [Member]
Cost of revenues:
Cost of revenues	59,156	61,434	119,142	118,582
Equipment Rentals [Member] | Rental Expense [Member]
Cost of revenues:
Cost of revenues	23,264	27,019	48,833	51,787
New Equipment Sales [Member]
Revenues:
Revenues	43,947	53,596	74,820	112,699
Cost of revenues:
Cost of revenues	39,259	47,064	66,685	99,163
Gross profit	4,688	6,532	8,135	13,536
Used Equipment Sales [Member]
Revenues:
Revenues	34,013	36,128	65,231	65,762
Cost of revenues:
Cost of revenues	23,282	23,321	43,720	42,333
Gross profit	10,731	12,807	21,511	23,429
Parts Sales [Member]
Revenues:
Revenues	26,220	31,871	55,989	62,299
Cost of revenues:
Cost of revenues	19,352	23,290	41,255	45,579
Gross profit	6,868	8,581	14,734	16,720
Services Revenues [Member]
Revenues:
Revenues	15,657	16,725	32,479	32,293
Cost of revenues:
Cost of revenues	5,173	5,359	10,713	10,363
Gross profit	10,484	11,366	21,766	21,930
Other [Member]
Cost of revenues:
Cost of revenues	2,554	3,482	5,326	6,825
Equipment Rentals [Member]
Revenues:
Revenues	155,794	192,302	330,313	368,431
New Equipment Sales [Member]
Revenues:
Revenues	43,947	53,596	74,820	112,699
Used Equipment Sales [Member]
Revenues:
Revenues	34,013	36,128	65,231	65,762
Parts Sales [Member]
Revenues:
Revenues	26,220	31,871	55,989	62,299
Services Revenues [Member]
Revenues:
Revenues	15,657	16,725	32,479	32,293
Other [Member]
Revenues:
Revenues	$ 2,705	$ 2,975	$ 5,426	$ 5,751

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ (28,153)	$ 36,857
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization of property and equipment	14,769	13,627
Depreciation of rental equipment	119,142	118,582
Amortization of finance lease right-of-use assets	81	81
Amortization of intangible assets	2,002	2,049
Amortization of deferred financing costs	504	504
Accretion of note discount, net of premium amortization	238	239
Non-cash operating lease expense	5,760	5,273
Impairment of goodwill	61,994
Provision for losses on accounts receivable	2,950	2,480
Provision for inventory obsolescence	12	115
Change in deferred income taxes	(7,211)	12,239
Stock-based compensation expense	2,656	2,023
Gain from sales of property and equipment, net	(7,158)	(1,621)
Gain from sales of rental equipment, net	(21,224)	(23,239)
Changes in operating assets and liabilities, net of acquisitions:
Receivables	42,764	4,764
Inventories	(12,397)	(55,997)
Prepaid expenses and other assets	(8,540)	(2,969)
Accounts payable	14,077	16,592
Manufacturer flooring plans payable	(8,524)	1,400
Accrued expenses payable and other liabilities	(13,326)	1,898
Deferred compensation payable	50	55
Net cash provided by operating activities	160,466	134,952
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired		(106,746)
Purchases of property and equipment	(13,511)	(18,568)
Purchases of rental equipment	(55,448)	(174,674)
Proceeds from sales of property and equipment	10,390	2,173
Proceeds from sales of rental equipment	59,756	61,668
Net cash provided by (used in) investing activities	1,187	(236,147)
Cash flows from financing activities:
Borrowings on senior secured credit facility	496,011	797,029
Payments on senior secured credit facility	(645,329)	(685,080)
Dividends paid	(19,741)	(19,670)
Purchases of treasury stock	(470)	(387)
Payments of deferred financing costs		(559)
Payments of finance lease obligations	(120)	(114)
Net cash provided by (used in) financing activities	(169,649)	91,219
Net decrease in cash	(7,996)	(9,976)
Cash, beginning of period	14,247	16,677
Cash, end of period	6,251	6,701
Supplemental schedule of noncash investing and financing activities:
Accrued acquisition purchase price consideration		3,432
Noncash asset purchases:
Assets transferred from new and used inventory to rental fleet	18,410	33,591
Purchases of property and equipment included in accrued expenses payable and other liabilities	218	453
Operating lease right-of-use assets and lease liabilities recorded upon adoption of ASC 842		162,814
Finance lease right-of-use assets and lease liabilities recorded upon adoption of ASC 842		782
Operating lease assets obtained in exchange for new operating lease liabilities	15,077	8,657
Cash paid during the period for:
Interest	31,402	32,954
Income taxes paid (refunds received), net	$ (1,540)	$ 1,765

Organization and Nature of Oper

Organization and Nature of Operations	6 Months Ended
	Jun. 30, 2020
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 month periods ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020, 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, 2019, from which the consolidated balance sheet amounts as of December 31, 2019 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 services support for four core categories of specialized equipment: (1) hi-lift or aerial work platform equipment; (2) cranes; (3) earthmoving equipment; and (4) material handling equipment. By providing equipment rental, sales, on-site parts, 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 opportunities among our new and used equipment sales, rental, parts sales and services operations. COVID-19 The novel coronavirus (“COVID-19”) was first identified in late 2019. COVID-19 spread rapidly throughout the world and, in March 2020, the World Health Organization characterized COVID-19 as a pandemic and recommended containment and mitigation measures worldwide. COVID-19 is a pandemic of respiratory disease spreading from person-to-person that poses a serious public health risk. The spread of COVID-19 and the resulting economic contraction has resulted in increased business uncertainty in our industry. Even as some states have begun to partially or completely lift stay-at-home restriction orders to reopen their economies, several areas of the country are now experiencing increases in the number of COVID-19 cases, thereby limiting the pace and extent of any economic recovery that may have otherwise occurred, and certain jurisdictions have begun to re-implement containment restrictions. We began to experience a decline in revenues in March 2020, when rental and sales volumes declined in response to shelter-in-place orders and other end-user market restrictions. Such declines continued into mid-April, when we began to see improvement in rental and sales volumes in response to an easing of the various market restrictions. These sequential improvements continued through the remainder of the second quarter and into early third quarter. The extent of any further recovery, or subsequent contraction, in our business volumes from the impact of the COVID-19 pandemic , and the resulting impact to our financial results and liquidity , will depend largely on future developments, including the duration of the spread of the COVID-19 outbreak within the U.S. and globally, the impact on capital and financial markets , and the related impact on our customers. We have proactively taken, and will continue to take, the necessary actions to right-size our business in this environment to strengthen cash flow, reduce operating costs, and further strengthen our balance sheet and liquidity position. These actions include headcount reductions, modified work schedules reducing hours where needed, furloughs in selected branch

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
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, 2019. During the three and six month periods ended June 30, 2020, 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. Revenue Recognition Under Topic 606, Revenue from Contracts with Customers, revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. As described below, we adopted Topic 842, Leases, on January 1, 2019. We recognize revenue in accordance with two different accounting standards: 1) Topic 606 and 2) Topic 842. Under Topic 606, revenue from contracts with customers is measured based on the consideration specified in the contract with the customer, and excludes any sales incentives and amounts collected on behalf of third parties. A performance obligation is a promise in a contract to transfer a distinct good or service to a customer. Our contracts with customers generally do not include multiple performance obligations. We recognize revenue when we satisfy a performance obligation by transferring control over a product or service to a customer. The amount of revenue recognized reflects the consideration we expect to be entitled to in exchange for such products or services. In the table below, revenues as presented in our condensed consolidated statements of operations for the three and six month periods ended June 30, 2020 and 2019 are summarized by type and by the applicable accounting standard. Three Month Period Ended June 30, 2020 2019 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 135,503 $ 204 $ 135,707 $ 167,072 $ 245 $ 167,317 Re-rent revenue 5,069 — 5,069 6,520 — 6,520 Ancillary and other rental revenues: Delivery and pick-up — 8,603 8,603 — 10,313 10,313 Other 6,415 — 6,415 8,152 — 8,152 Total ancillary rental revenues 6,415 8,603 15,018 8,152 10,313 18,465 Total equipment rental revenues 146,987 8,807 155,794 181,744 10,558 192,302 New equipment sales — 43,947 43,947 — 53,596 53,596 Used equipment sales — 34,013 34,013 — 36,128 36,128 Parts sales — 26,220 26,220 — 31,871 31,871 Service revenues — 15,657 15,657 — 16,725 16,725 Other — 2,705 2,705 — 2,975 2,975 Total revenues $ 146,987 $ 131,349 $ 278,336 $ 181,744 $ 151,853 $ 333,597 Six Month Period Ended June 30, 2020 2019 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 289,173 $ 462 $ 289,635 $ 320,422 $ 519 $ 320,941 Re-rent revenue 9,760 — 9,760 12,556 — 12,556 Ancillary and other rental revenues: Delivery and pick-up — 17,729 17,729 — 19,295 19,295 Other 13,189 — 13,189 15,639 — 15,639 Total ancillary rental revenues 13,189 17,729 30,918 15,639 19,295 34,934 Total equipment rental revenues 312,122 18,191 330,313 348,617 19,814 368,431 New equipment sales — 74,820 74,820 — 112,699 112,699 Used equipment sales — 65,231 65,231 — 65,762 65,762 Parts sales — 55,989 55,989 — 62,299 62,299 Service revenues — 32,479 32,479 — 32,293 32,293 Other — 5,426 5,426 — 5,751 5,751 Total revenues $ 312,122 $ 252,136 $ 564,258 $ 348,617 $ 298,618 $ 647,235 Revenues by reporting segment are presented in note 12 of our condensed consolidated financial statements, using the revenue captions reflected in our consolidated statements of operations. We believe that the disaggregation of our revenues from contracts with customers as reflected above, coupled with further discussion below and the reporting segments in note 12, depict how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors. For further information related to our accounting for revenues pursuant to Topic 606 and Topic 842, see Significant Accounting Policies in note 2 to our Annual Report on Form 10-K for the year ended December 31, 2019. Receivables and contract assets and liabilities We manage credit risk associated with our accounts receivables at the customer level. Because the same customers typically generate the revenues that are accounted for under both Topic 606 and Topic 842, the discussions below on credit risk and our allowance for doubtful accounts address our total revenues from Topic 606 and Topic 842. We believe concentration of credit risk with respect to our receivables is limited because our customer base is comprised of a large number of geographically diverse customers. No single customer accounted for more than 10% of our revenues on an overall or segment basis for any of the periods presented in this Quarterly Report on Form 10-Q. We manage credit risk through credit approvals, credit limits and other monitoring procedures. Pursuant to Topic 842 and Topic 326 for rental and non-rental receivables, respectively, we maintain an allowance for doubtful accounts that reflects our estimate of our expected credit losses. Our allowance is estimated using a loss rate model based on delinquency. The estimated loss rate is based on our historical experience with specific customers, our understanding of our current economic circumstances, reasonable and supportable forecasts, and our own judgment as to the likelihood of ultimate payment based upon available data. Our largest exposure to doubtful accounts is in our rental operations. We perform credit evaluations of customers and establish credit limits based on reviews of our customers’ current credit information and payment histories. We believe our credit risk is somewhat mitigated by our geographically diverse customer base and our credit evaluation procedures. The actual rate of future credit losses, however, may not be similar to past experience. Our estimate of doubtful accounts could change based on changing circumstances, including changes in the economy or in the particular circumstances of individual customers. Accordingly, we may be required to increase or decrease our allowance for doubtful accounts . We do not have material contract assets, impairment losses associated therewith, or material contract liabilities associated with contracts with customers. Our contracts with customers do not generally result in material amounts billed to customers in excess of recognizable revenue. We did not recognize material revenues during the three and six month periods ended June 30, 2020 or 2019 that were included in the contract liability balance as of the beginning of such periods. Goodwill Goodwill is recorded as the excess of the consideration transferred plus the fair value of any non-controlling interest in the acquiree at the acquisition date over the fair values of the identifiable net assets acquired. We evaluate goodwill for impairment at least annually, or more frequently if triggering events occur or other impairment indicators arise which might impair recoverability. Impairment of goodwill is evaluated at the reporting unit level. A reporting unit is defined as an operating segment (i.e. before aggregation or combination), or one level below an operating segment (i.e., a component). A component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component. We have identified two components within our Rental operating segment (Equipment Rental Component 1 and Equipment Rental Component 2) and have determined that each of our other operating segments (New Equipment Sales, Used Equipment Sales, Parts Sales and Service Revenues) represent a reporting unit, resulting in six total reporting units. As further described in our Annual Report on Form 10-K for the year ended December 31, 2019, we recorded in the fourth quarter of 2019 impairment charges of $10.7 million and $1.5 million related to our new equipment sales goodwill reporting unit and our service revenues goodwill reporting unit, respectively. As a result, and as indicated in the goodwill reporting unit carrying values rollforward below, these two reporting units had no carrying value at December 31, 2019. As further described below, as of March 31, 2020, we recorded an impairment charge of $62.0 million related to our Equipment Rental Component 2 reporting unit. As a result, and as indicated in the goodwill reporting unit carrying values rollforward below, this reporting unit has no remaining carrying value. The goodwill impairment test consists of one step, comparing the fair value of a reporting unit with its carrying amount. An entity should recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, limited to the total amount of goodwill allocated to the reporting unit. Based on our evaluation of the impact to our business in the first quarter of 2020 from the COVID-19 pandemic, we identified triggering events requiring an interim impairment test as of March 31, 2020. These triggering events included a deterioration in macroeconomic conditions, declines in business volume in our industry, a decline in our actual revenue and earnings compared with our planned revenue and earnings, and a sustained decrease in our stock price. For the interim impairment test as of March 31, 2020, we estimated the fair value of our reporting units by equally weighting results from the income approach and the market approach and we compared those fair values to the carrying values of our four reporting units with carrying values, and determined that our Equipment Rental Component 2 reporting unit had a fair value less than its carrying value, resulting in a $62.0 million impairment charge. The impairment was largely due to Equipment Rental Component 2’s forecasted declines in 2020 rental revenues, which was driven by the decrease in equipment rental demand that began in March 2020 as COVID-19’s impact became more widespread across our geographic footprint, combined with our revenue growth rate and cash flow assumptions for the remaining forecast period under the income approach, and the decline in the fair value of Equipment Rental Component 2 based on the market approach from declining business enterprise values of comparable companies in our industry, resulting in a decrease in revenue and EBITDA multiples of those companies. We determined that our Equipment Rental Component 1, Used Equipment Sales and Parts Sales reporting units were not impaired as their respective fair values exceeded their respective carrying values by approximately 34%, 90%, and 40%, respectively. Significant assumptions inherent in the valuation methodologies for goodwill are employed and include, prospective financial information, growth rates, terminal value, discount rates, and comparable multiples from publicly traded companies in our industry. The inputs and variables used in determining the fair value of a reporting unit require management to make certain assumptions regarding the impact of operating and macroeconomic changes, as well as estimates of future cash flows. Our estimates regarding future cash flows are based on historical experience and projections of future operating performance, including revenues, margins and operating expenses. We also make certain forecasts about future economic conditions, such as the timing and duration of economic expansion or contraction cycles in our business, interest rates, and other market data. Many of the factors used in assessing fair value are outside the control of management, and these assumptions and estimates may change in future periods. An adverse change in any of the assumptions used in our impairment testing (e.g. projected revenue and profit, discount rates, industry price multiples, etc.), including the uncertainty related to the depth and duration of COVID-19’s impact on our forecasted cash flows, could affect our fair value measurements and result in future impairments. If we are unable to achieve the financial forecasts used in our impairment analysis, we may also be required to record an impairment charge to our goodwill. The impairment charge is a non-cash item and will not affect our cash flows, liquidity or borrowing capacity under the senior credit facility, and the charge is excluded from our financial results in evaluating our financial covenant under the senior secured credit facility. The changes in the carrying amount of goodwill for our reporting units for the periods ended June 30, 2020 and December 31, 2019 were as follows (amounts in thousands): Eq. Rental Comp. 1 Eq. Rental Comp. 2 New Eq. Sales Used Eq. Sales Parts Sales Service Revenues Total Balance at December 31, 2018 $ 34,297 $ 42,536 $ 10,434 $ 8,461 $ 8,910 $ 1,205 $ 105,843 Increases (1) 14,918 19,775 254 500 2,045 291 37,783 Decreases (2) — — (10,688 ) — — (1,496 ) (12,184 ) Balance at December 31, 2019 49,215 62,311 — 8,961 10,955 — 131,442 Decreases (3) (239 ) (317 ) — (8 ) (33 ) — (597 ) Decreases (4) — (61,994 ) — — — — (61,994 ) Balance at June 30, 2020 $ 48,976 $ — $ — $ 8,953 $ 10,922 $ — $ 68,851 (1) Increases are related to goodwill recognized in the Cobra Equipment Rentals, LLC 2019 acquisition. See footnote 3 for further information. (2) Decreases are related to the goodwill impairment calculated as of October 1, 2019. (3) Decreases are related to an adjustment from the final closing settlement of the Cobra Equipment Rentals, LLC 2019 acquisition during the first quarter of 2020. (4) Decrease is related to the goodwill impairment calculated as of March 31, 2020. Recent Accounting Pronouncements Pronouncements Not Yet Adopted In December 2019, the FASB issued Accounting Standards Update (“ASU”) No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in Accounting Standards Codification (“ASC”) 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. ASU 2019-12 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2020, and generally requires prospective adoption. While we continue to evaluate the new guidance of ASU 2019-12, we currently do not expect the guidance to have a material impact on our consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional guidance for a limited time to ease the potential burden in accounting for or recognizing the effects of reference rate reform, particularly, the risk of cessation of the London Interbank Offered Rate (“LIBOR”) on financial reporting. The guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments are elective and are effective upon issuance for all entities through December 31, 2022. The amendments of this ASU should be applied on a prospective basis. The Company is currently evaluating the impact of the new guidance. In March 2020, the Securities and Exchange Commission (“SEC”) adopted final rules that amend the financial disclosure requirements for subsidiary issuers and guarantors of registered debt securities in Rule 3-10 of Regulation S-X. The SEC also amended the disclosure requirements for affiliates whose securities are pledged as collateral for registered securities in Rule 3-16 of Regulation S-X. The disclosure requirements, as amended, are now relocated to newly created Rules 13-01 and 13-02 in Regulation S-X, while the amended eligibility requirements remain in Rule 3-10. The SEC amended its financial disclosure requirements for companies that conduct registered debt offerings involving subsidiaries as either issuers or guarantors and affiliates whose securities are pledged as collateral. The SEC also narrowed the circumstances that require separate financial statements of subsidiary issuers and guarantors and streamlined the alternative disclosures required in lieu of those statements. Further, the SEC replaced the requirement for separate financial statements of affiliates whose securities are pledged as collateral for registered securities with requirements similar to those adopted for subsidiary issuers and guarantors. Previously, with limited exceptions, a parent entity was required to provide detailed disclosures with regard to guarantors of registered debt offerings within the footnotes to the consolidated financial statements. Under the new regulations, disclosure exceptions have been expanded and required disclosures may be provided within Item 2. — “ Management’s Discussion and Analysis of Financial Condition and Results of Operations ” rather than in the notes to the consolidated financial statements. Further, summarized guarantor balance sheet s and income statements are permitted, with the requirement to provide guarantor cash flow statements eliminated. Summarized guarantor financial statements only need be disclosed for the current fiscal year rather than all years presented in the financial statements as was previously required. The rule is effective January 4, 2021, but earlier compliance is permitted. On May 20, 2020, the SEC issued a final rule that amends the financial statement requirements for acquisitions and dispositions of businesses, including real estate operations, and related pro forma financial information. As noted in the final rule, the amendments are intended to improve for investors the financial information about acquired or disposed businesses, facilitate more timely access to capital, and reduce the complexity and costs to prepare the disclosure. Among other changes, the final rule modifies the significance tests and improves the disclosure requirements for acquired or to be acquired businesses, real estate operations, and pro forma financial information. The final rule is applicable for a registrant’s fiscal year beginning after December 31, 2020, but early application is permitted. The Company is currently evaluating the impact of the final rules. Pronouncements Adopted in 2020 Credit Losses On January 1, 2020, we adopted Accounting Standards Codification Topic 326, Credit Losses Fair Value On January 1, 2020, we adopted ASU No. 2018-13, Fair Value Measurement - Disclosure Framework. ASU 2018-13 modifies the disclosure requirements for fair value measurements. Entities are no longer required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but public companies are required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. The adoption of ASU 2018-13 did not have a material impact on our consolidated financial statements and footnotes.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Acquisitions	(3) Acquisitions 2019 Acquisition Cobra Equipment Rentals LLC (dba “We-Rent-It”) Effective February 1, 2019, we completed the acquisition of We-Rent-It (“WRI”), an equipment rental company with six branches located in central Texas. The acquisition expands our presence in the surrounding markets. The aggregate consideration paid to the owners of WRI was approximately $107.9 million. The acquisition and related fees and expenses were funded from borrowings under our Credit Facility (defined below). The following table summarizes the fair value of the assets acquired and liabilities assumed as of the acquisition date. T he final closing statement was settled during the first quarter of 2020, resulting in a $0.6 million decrease in the total consideration paid $’s in thousands Cash $ 1,745 Accounts receivable 5,119 Inventory 731 Prepaid expenses and other assets 544 Rental equipment 51,747 Property and equipment 3,207 Other assets 21 Intangible assets (1) 8,700 Total identifiable assets acquired 71,814 Accounts payable (115 ) Accrued expenses payable and other liabilities (991 ) Total liabilities assumed (1,106 ) Net identifiable assets acquired 70,708 Goodwill (2) 37,186 Net assets acquired $ 107,894 (1) The following table reflects the estimated fair values and useful lives of the acquired intangible assets identified based on our purchase accounting assessments: Fair Value (amounts in thousands) Life (years) Customer relationships $ 8,500 10 Tradenames 200 1 $ 8,700 (2) We have allocated the $37.2 million goodwill among our six goodwill reporting units as follows (amounts in thousands): Rental Component 1 $ 14,679 Rental Component 2 19,458 New Equipment 254 Used Equipment 492 Parts 2,012 Service 291 $ 37,186 The level of goodwill that resulted from the WRI acquisition is primarily reflective of WRI’s going-concern value, the value of WRI’s assembled workforce, new customer relationships expected to arise from the acquisition and expected synergies from combining operations. We currently expect the goodwill recognized to be 100% deductible for income tax purposes. Total WRI acquisition costs were $0.4 million. Since our acquisition of WRI on February 1, 2019, significant amounts of equipment rental fleet have been moved between H&E locations and the acquired WRI locations, as well as branch consolidations among the WRI branches acquired and H&E branches have occurred, and therefore, it is impractical to reasonably estimate the amount of WRI revenues and earnings since the acquisition date. Pro forma financial information We completed the We-Rent-It acquisition on February 1, 2019. Therefore, our condensed consolidated statements of operations for the three and six month periods ended June 30, 2020 and 2019 and included herein, includes We-Rent-It for the period of February 1, 2019 through June 30, 2020. The pro forma information below gives effect to the WRI acquisition as if it had been completed on January 1, 2018 (the WRI pro forma acquisition date). The pro forma information below is not necessarily indicative of our results of operations had the acquisitions been completed on the above date, nor is it necessarily indicative of our future results. The pro forma information does not reflect any cost savings from operating efficiencies or synergies that could result from the acquisitions, nor does it reflect additional revenue opportunities following the acquisition. The pro forma adjustments reflected in the tables below are subject to change as additional analysis is performed. Pursuant to ASC 805, Business Combinations, pro forma disclosures should be repeated whenever the year or interim period of the acquisition is presented. Since the WRI acquisition was completed in the first quarter of 2019, the pro forma information below gives effect to the WRI acquisition as if the acquisition occurred on January 1, 2018 (the WRI pro forma acquisition date) for the quarterly periods ended June 30, 2018. The tables below present unaudited pro forma consolidated statements of operations information for the three and six month periods ended June 30, 2018 as if WRI was included in our consolidated results for the entire period presented . (amounts in thousands, except per share data) Three Month Period Ended June 30, 2018 H&E(1) We-Rent-It Total Total revenues $ 310,364 $ 9,640 $ 320,004 Pretax income 27,869 2,432 30,301 Pro forma adjustments to pretax income: Impact of fair value mark-ups/useful life changes on depreciation (2) — (1,976 ) (1,976 ) Intangible asset amortization (3) — (313 ) (313 ) Interest expense (4) — (1,476 ) (1,476 ) Elimination of historic interest expense (5) — 126 126 Pro forma pretax income (loss) 27,869 (1,207 ) 26,662 Income tax expense (benefit) 7,098 (301 ) 6,797 Net income (loss) $ 20,771 $ (906 ) $ 19,865 Net income (loss) per share – basic (6) $ 0.58 $ (0.03 ) $ 0.56 Net income (loss) per share – diluted (6) $ 0.58 $ (0.03 ) $ 0.55 (amounts in thousands, except per share data) Six Month Period Ended June 30, 2018 H&E(1) Rental Inc.(7) We-Rent-It Total Total revenues $ 570,846 $ 7,408 $ 17,227 $ 595,481 Pretax income 40,937 1,020 3,216 45,173 Pro forma adjustments to pretax income: Impact of fair value mark-ups/useful life changes on depreciation (2) — (749 ) (2,226 ) (2,975 ) Intangible asset amortization (3) — (275 ) (435 ) (710 ) Interest expense (4) — (480 ) (2,832 ) (3,312 ) Elimination of historic interest expense (5) — 82 206 288 Pro forma pretax income (loss) 40,937 (402 ) (2,071 ) 38,464 Income tax expense (benefit) 10,688 (105 ) (536 ) 10,047 Net income (loss) $ 30,249 $ (297 ) $ (1,535 ) $ 28,417 Net income (loss) per share – basic (6) $ 0.85 $ (0.01 ) $ (0.04 ) $ 0.80 Net income (loss) per share – diluted (6) $ 0.84 $ (0.01 ) $ (0.04 ) $ 0.79 (1) Amounts presented above for “H&E” are derived from the Company’s consolidated statements of income in its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2018. (2) Depreciation of rental equipment and non-rental equipment were adjusted for the fair value markups, and the changes in useful lives and salvage values of the equipment acquired in the acquisition. (3) Represents the amortization of the intangible assets acquired in the acquisition. (4) Interest expense was adjusted to reflect the additional debt resulting from the acquisition. (5) Represents the elimination of historic debt of WRI that is not part of the combined entity. (6) Because of the method used in calculating per share data, the summation of entities may not necessarily total to the per share data computed for the total company due to rounding. (7) Represents Rental Inc. pro forma operating results for the three month period ended March 31, 2018. We completed the Rental Inc. acquisition on April 1, 2018.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	(4) Fair Value of Financial Instruments Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The FASB fair value measurement guidance established a fair value hierarchy that prioritizes the inputs used to measure fair value. The three broad levels of the fair value hierarchy are as follows: Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities Level 2 – Quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly Level 3 – Unobservable inputs for which little or no market data exists, therefore requiring a company to develop its own assumptions The carrying value of financial instruments reported in the accompanying condensed consolidated balance sheets for cash, accounts receivable, accounts payable and accrued expenses payable and other liabilities approximate fair value due to the immediate or short-term nature or maturity of these financial instruments. The carrying amounts and fair values of our other financial instruments subject to fair value disclosures as of June 30, 2020 and December 31, 2019 are presented in the table below (amounts in thousands). June 30, 2020 Carrying Amount Fair Value Manufacturer flooring plans payable with interest computed at 3.50% (Level 3) $ 16,677 $ 15,042 Senior unsecured notes due 2025 with interest computed at 5.625% (Level 2) 945,958 959,500 December 31, 2019 Carrying Amount Fair Value Manufacturer flooring plans payable with interest computed at 5.25% (Level 3) $ 25,201 $ 21,615 Senior unsecured notes due 2025 with interest computed at 5.625% (Level 2) 945,566 995,125 At June 30, 2020 and December 31, 2019, the fair value of our senior unsecured notes due 2025 was based on quoted bond trading market prices for those notes. The carrying amounts and fair values of our other financial instruments subject to fair value disclosures have been calculated based upon market quotes and present value calculations based on market rates. During the three and six month periods ended June 30, 2020 and 2019, there were no transfers of financial assets or liabilities in or out of Level 3 of the fair value hierarchy. For our Level 3 unobservable inputs, we calculate a discount rate for our manufacturing floor plans payable based on the U.S. prime rate plus the applicable margin on our Senior Secured Credit Facility. The discount rate as of June 30, 2020 and December 31, 2019 is disclosed in the above table.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Stockholders' Equity	(5) Stockholders’ Equity The following table summarizes the quarterly activity in Stockholders’ Equity for the periods ended June 30, 2020 and 2019, respectively (amounts in thousands, except share data): Common Stock Additional Total Shares Issued Amount Paid-in Capital Treasury Stock Retained Earnings Stockholders’ Equity Balances at December 31, 2019 39,921,838 $ 398 $ 235,844 $ (64,783 ) $ 136,060 $ 307,519 Stock-based compensation — — 1,652 — — 1,652 Cash dividends declared on common stock ($0.275 per share) — — — — (9,789 ) (9,789 ) Issuance of common stock, net of restricted stock forfeitures 98,451 1 — — — 1 Repurchase of 26,392 shares of restricted common stock — — — (470 ) — (470 ) Net loss — — — — (36,968 ) (36,968 ) Balances at March 31, 2020 40,020,289 399 237,496 (65,253 ) 89,303 261,945 Stock-based compensation — — 1,004 — — 1,004 Cash dividends declared on common stock ($0.275 per share) — — — — (9,896 ) (9,896 ) Restricted stock forfeitures (6,732 ) — — — — — Net income — — — — 8,815 8,815 Balances at June 30, 2020 $ 40,013,557 $ 399 $ 238,500 $ (65,253 ) $ 88,222 $ 261,868 Balances at December 31, 2018 39,748,562 $ 396 $ 231,174 $ (63,099 ) $ 88,332 $ 256,803 Stock-based compensation — — 1,188 — — 1,188 Cash dividends declared on common stock ($0.275 per share) — — — — (9,793 ) (9,793 ) Issuance of common stock, net of restricted stock forfeitures 59,510 1 — — — 1 Repurchase of 14,272 shares of restricted common stock — — — (387 ) — (387 ) Cumulative effect adjustment pursuant to the adoption of ASC 842 — — — — (56 ) (56 ) Net income — — — — 14,243 14,243 Balances at March 31, 2019 39,808,072 397 232,362 (63,486 ) 92,726 261,999 Stock-based compensation — — 835 — — 835 Cash dividends declared on common stock ($0.275 per share) — — — — (9,857 ) (9,857 ) Restricted stock forfeitures (2,666 ) — — — — — Net income — — — — 22,614 22,614 Balances at June 30, 2019 39,805,406 $ 397 $ 233,197 $ (63,486 ) $ 105,483 $ 275,591

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	(6) Stock-Based Compensation We account for our stock-based compensation plans using the fair value recognition provisions of ASC 718, Stock Compensation Non-vested Stock The following table summarizes our non-vested stock activity for the six month period ended June 30, 2020: Number of Shares Weighted Average Grant Date Fair Non-vested stock at December 31, 2019 377,740 $ 29.26 Granted 23,608 $ 27.11 Vested (73,564 ) $ 24.03 Forfeited (8,608 ) $ 31.15 Non-vested stock at June 30, 2020 319,176 $ 30.26 As of June 30, 2020, we had unrecognized compensation expense of approximately $4.2 million related to non-vested stock that we expect to be recognized over a weighted-average period of approximately 1.7 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 operations for the three and six month periods ended June 30, 2020 and 2019 (amounts in thousands): For the Three Months Ended June 30, For the Six Months Ended June 30, 2020 2019 2020 2019 Compensation expense $ 1,004 $ 835 $ 2,656 $ 2,023

Income (Loss) per Share

Income (Loss) per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Income (Loss) per Share	(7) Income (loss) per Share Income (loss) per common share for the three and six month periods ended June 30, 2020 and 2019 are based on the weighted average number of common shares outstanding during the periods. The effects of potentially dilutive securities that are anti-dilutive are not included in the computation of dilutive income (loss) 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 approximately 0.6% of total outstanding shares for each of the three and six month periods ended June 30, 2020 and 2019, 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 (loss) per common share for the three and six month periods ended June 30, 2020 and 2019 (amounts in thousands, except per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Basic net income (loss) per share: Net income (loss) $ 8,815 $ 22,614 $ (28,153 ) $ 36,857 Weighted average number of common shares outstanding 36,031 35,826 35,998 35,807 Net income (loss) per share of common stock – basic $ 0.24 $ 0.63 $ (0.78 ) $ 1.03 Diluted net income (loss) per share: Net income (loss) $ 8,815 $ 22,614 $ (28,153 ) $ 36,857 Weighted average number of common shares outstanding 36,031 35,826 35,998 35,807 Effect of dilutive securities: Effect of dilutive non-vested restricted stock 76 190 — 187 Weighted average number of common shares outstanding – diluted 36,107 36,016 35,998 35,994 Net income (loss) per share of common stock – diluted $ 0.24 $ 0.63 $ (0.78 ) $ 1.02 Common shares excluded from the denominator as anti-dilutive: Non-vested restricted stock — — — 19

Senior Secured Credit Facility

Senior Secured Credit Facility	6 Months Ended
	Jun. 30, 2020
Secured Debt [Member]
Senior Secured Credit Facility	(8) Senior Secured Credit Facility We and our subsidiaries are parties to a $750.0 million Credit Facility with Wells Fargo Capital Finance, LLC as administrative agent, and the lenders named therein (the “Credit Facility”). For further information related to significant terms of the Credit Facility, see the notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. As of June 30, 2020, we were in compliance with our financial covenants under the Amended and Restated Credit Agreement. At June 30, 2020, we had $67.6 million of borrowings outstanding under the Credit Facility and could borrow up to approximately $674.7 million and remain in compliance with the debt covenants under the Credit Facility. At July 28, 2020, we had $699.9 million of available borrowings under our Credit Facility, net of a $7.7 million outstanding letter of credit.

Senior Unsecured Notes

Senior Unsecured Notes	6 Months Ended
	Jun. 30, 2020
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Senior Secured Credit Facility	(9) Senior Unsecured Notes For further information related to significant terms of the Senior Unsecured Notes, see the notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. As of June 30, 2020, we were in compliance with the covenants governing our notes. The following table reconciles our Senior Unsecured Notes to our Condensed Consolidated Balance Sheets (amounts in thousands): Balance at December 31, 2018 $ 944,780 Accretion of discount through December 31, 2019 1,539 Amortization of note premium through December 31, 2019 (1,062 ) Amortization of deferred financing costs through December 31, 2019 309 Balance at December 31, 2019 $ 945,566 Accretion of discount through June 30, 2020 770 Amortization of note premium through June 30, 2020 (532 ) Amortization of deferred financing costs through June 30, 2020 154 Balance at June 30, 2020 $ 945,958

Leases

Leases	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Leases	(10) Leases We adopted Topic 842 on January 1, 2019. For a discussion of our adoption of Topic 842 and related disclosures, see note 2 and note 11 to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2019. At June 30, 2020, as disclosed in our condensed consolidated balance sheet, we had net operating lease right-of-use assets of $165.5 million and net finance lease right-of-use assets of $0.3 million. Our operating lease liabilities at June 30, 2020 were $168.8 million and finance lease liabilities were $0.4 million. The weighted average remaining lease term for operating leases was approximately 10.0 years and the weighted average remaining lease term for finance leases was approximately 1.8 years. The weighted average discount rate for operating and finance leases was approximately 6.6% and 5.9%, respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	(11) Income Taxes On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was signed into law and includes certain income tax provisions relevant to businesses. The Company is required to recognize the effect on the consolidated financial statements in the period the law was enacted, which was the quarter ended March 31, 2020. For the six month period ended June 30, 2020, the CARES Act did not have a material impact on our provision for income taxes. However, certain provisions of the CARES Act did have a favorable cash impact. Specifically, the elimination of the 80% of taxable income limitation on net operating loss carryforwards may allow corporate entities to fully utilize net operating loss carryforwards to offset taxable income in 2018, 2019 or 2020, which is expected to result in a further reduction of approximately $4.9 million of future estimated income tax payments for the Company. Secondly, taxpayers with alternative minimum tax credits may claim a refund for the entire amount of such credit instead of recovering the credit through refunds over a period of multiple years, as required by the 2017 Tax Cut and Jobs Act, which resulted in a $1.5 million federal tax refund claim for the Company, which we received in June 2020. Lastly, the non-income tax-based provision allowing an employer to pay its share of Social Security payroll taxes that would otherwise be due from the date of enactment through December 31, 2020 over the following two years is expected to result in the deferral of approximately $ 6 million of those payroll taxes, half of which we expect to remit by September 15, 2021 and the remaining amounts in 2022.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment Information	(12) 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, 2020 2019 2020 2019 Segment Revenues: Equipment rentals $ 155,794 $ 192,302 $ 330,313 $ 368,431 New equipment sales 43,947 53,596 74,820 112,699 Used equipment sales 34,013 36,128 65,231 65,762 Parts sales 26,220 31,871 55,989 62,299 Services revenues 15,657 16,725 32,479 32,293 Total segmented revenues 275,631 330,622 558,832 641,484 Non-segmented revenues 2,705 2,975 5,426 5,751 Total revenues $ 278,336 $ 333,597 $ 564,258 $ 647,235 Segment Gross Profit: Equipment rentals $ 59,148 $ 86,002 $ 131,307 $ 163,940 New equipment sales 4,688 6,532 8,135 13,536 Used equipment sales 10,731 12,807 21,511 23,429 Parts sales 6,868 8,581 14,734 16,720 Services revenues 10,484 11,366 21,766 21,930 Total segmented gross profit 91,919 125,288 197,453 239,555 Non-segmented gross profit (loss) 151 (507 ) 100 (1,074 ) Total gross profit $ 92,070 $ 124,781 $ 197,553 $ 238,481 Balances at June 30, December 31, 2020 2019 Segment identified assets: Equipment sales $ 62,201 $ 67,542 Equipment rentals 1,133,857 1,217,673 Parts and services 17,252 17,936 Total segment identified assets 1,213,310 1,303,151 Non-segment identified assets 565,933 671,459 Total assets $ 1,779,243 $ 1,974,610 The Company operates primarily in the United States and our sales to international customers for the three month periods ended June 30, 2020 and 2019 were 0.2% and 0.1% of total revenues, respectively, and for the six month periods ended June 30, 2020 and 2019 were 0.3% and 0.2%, 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, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Condensed Consolidating Financial Information of Guarantor Subsidiaries	(13) 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 subsidiary Great Northern Equipment, Inc., H&E Equipment Services (California), LLC, H&E California Holding, Inc., H&E Equipment Services (Mid-Atlantic), Inc. and H&E Finance Corp. The guarantor subsidiaries are all wholly‑owned and the guarantees, made on a joint and several basis, are full and unconditional (subject to subordination provisions and subject to a standard limitation which provides that the maximum amount guaranteed by each guarantor will not exceed the maximum amount that can be guaranteed without making the guarantee void under fraudulent conveyance laws). There are no restrictions on H&E Equipment Services, Inc.’s ability to obtain funds from the guarantor subsidiaries by dividend or loan. 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, 2020 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Assets: Cash $ 6,251 $ — $ — $ 6,251 Receivables, net 126,359 20,131 — 146,490 Inventories, net 75,550 3,903 — 79,453 Prepaid expenses and other assets 18,565 219 — 18,784 Rental equipment, net 999,960 133,897 — 1,133,857 Property and equipment, net 108,670 17,621 — 126,291 Operating lease right-of-use assets, net 144,870 20,659 — 165,529 Finance lease right-of-use assets, net — 284 — 284 Deferred financing costs, net 2,507 — — 2,507 Investment in guarantor subsidiaries 187,894 — (187,894 ) — Intangible assets, net 30,946 — — 30,946 Goodwill 57,185 11,666 — 68,851 Total assets $ 1,758,757 $ 208,380 $ (187,894 ) $ 1,779,243 Liabilities and Stockholders’ Equity: Amounts due on senior secured credit facility 67,561 $ — $ — $ 67,561 Accounts payable 69,102 3,231 — 72,333 Manufacturer flooring plans payable 16,677 — — 16,677 Accrued expenses payable and other liabilities 74,854 (4,387 ) — 70,467 Dividends payable 179 (64 ) — 115 Senior unsecured notes, net 945,958 — — 945,958 Operating lease right-of-use liabilities 147,495 21,276 — 168,771 Finance lease right-of-use liabilities — 430 — 430 Deferred income taxes 172,915 — — 172,915 Deferred compensation payable 2,148 — — 2,148 Total liabilities 1,496,889 20,486 — 1,517,375 Stockholders’ equity 261,868 187,894 (187,894 ) 261,868 Total liabilities and stockholders’ equity $ 1,758,757 $ 208,380 $ (187,894 ) $ 1,779,243 CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2019 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Assets: Cash $ 14,247 $ — $ — $ 14,247 Receivables, net 164,260 27,944 — 192,204 Inventories, net 81,945 3,533 — 85,478 Prepaid expenses and other assets 10,129 133 — 10,262 Rental equipment, net 1,062,154 155,519 — 1,217,673 Property and equipment, net 111,429 19,135 — 130,564 Operating lease right-of-use assets, net 137,625 18,945 — 156,570 Finance lease right-of-use assets, net — 365 — 365 Deferred financing costs, net 2,857 — — 2,857 Investment in guarantor subsidiaries 235,749 — (235,749 ) — Intangible assets, net 32,948 — — 32,948 Goodwill 101,916 29,526 — 131,442 Total assets $ 1,955,259 $ 255,100 $ (235,749 ) $ 1,974,610 Liabilities and Stockholders’ Equity: Amounts due under senior secured credit facility $ 216,879 $ — $ — $ 216,879 Accounts payable 56,225 2,628 — 58,853 Manufacturer flooring plans payable 25,201 — — 25,201 Accrued expenses payable and other liabilities 81,646 (3,264 ) — 78,382 Dividends payable 231 (60 ) — 171 Senior unsecured notes, net 945,566 — — 945,566 Operating lease right-of-use liabilities, net 139,768 19,497 — 159,265 Finance lease right-of-use liabilities, net — 550 — 550 Deferred income taxes 180,126 — — 180,126 Deferred compensation payable 2,098 — — 2,098 Total liabilities 1,647,740 19,351 — 1,667,091 Stockholders’ equity 307,519 235,749 (235,749 ) 307,519 Total liabilities and stockholders’ equity $ 1,955,259 $ 255,100 $ (235,749 ) $ 1,974,610 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended June 30, 2020 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 135,148 $ 20,646 $ — $ 155,794 New equipment sales 42,494 1,453 — 43,947 Used equipment sales 29,522 4,491 — 34,013 Parts sales 23,630 2,590 — 26,220 Services revenues 14,061 1,596 — 15,657 Other 2,343 362 — 2,705 Total revenues 247,198 31,138 — 278,336 Cost of revenues: Rental depreciation 51,573 7,583 — 59,156 Rental expense 20,202 3,062 — 23,264 Rental other 12,143 2,083 — 14,226 83,918 12,728 — 96,646 New equipment sales 38,028 1,231 — 39,259 Used equipment sales 20,469 2,813 — 23,282 Parts sales 17,543 1,809 — 19,352 Services revenues 4,679 494 — 5,173 Other 2,305 249 — 2,554 Total cost of revenues 166,942 19,324 — 186,266 Gross profit: Equipment rentals 51,230 7,918 — 59,148 New equipment sales 4,466 222 — 4,688 Used equipment sales 9,053 1,678 — 10,731 Parts sales 6,087 781 — 6,868 Services revenues 9,382 1,102 — 10,484 Other 38 113 — 151 Gross profit 80,256 11,814 — 92,070 Selling, general and administrative expenses 59,223 8,638 — 67,861 Merger costs 118 — — 118 Equity in earnings of guarantor subsidiaries 771 — (771 ) — Gain on sales of property and equipment, net 2,497 397 — 2,894 Income from operations 24,183 3,573 (771 ) 26,985 Other income (expense): Interest expense (12,712 ) (2,860 ) — (15,572 ) Other, net 584 58 — 642 Total other expense, net (12,128 ) (2,802 ) — (14,930 ) Income before income taxes 12,055 771 (771 ) 12,055 Income tax expense 3,240 — — 3,240 Net income $ 8,815 $ 771 $ (771 ) $ 8,815 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended June 30, 2019 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 169,106 $ 23,196 $ — $ 192,302 New equipment sales 47,040 6,556 — 53,596 Used equipment sales 30,369 5,759 — 36,128 Parts sales 27,488 4,383 — 31,871 Services revenues 14,141 2,584 — 16,725 Other (291 ) 3,266 — 2,975 Total revenues 287,853 45,744 — 333,597 Cost of revenues: Rental depreciation 53,361 8,073 — 61,434 Rental expense 23,143 3,876 — 27,019 Rental other 17,847 — — 17,847 94,351 11,949 — 106,300 New equipment sales 41,179 5,885 — 47,064 Used equipment sales 19,622 3,699 — 23,321 Parts sales 20,220 3,070 — 23,290 Services revenues 4,558 801 — 5,359 Other 361 3,121 — 3,482 Total cost of revenues 180,291 28,525 — 208,816 Gross profit (loss): Equipment rentals 74,755 11,247 — 86,002 New equipment sales 5,861 671 — 6,532 Used equipment sales 10,747 2,060 — 12,807 Parts sales 7,268 1,313 — 8,581 Services revenues 9,583 1,783 — 11,366 Other (652 ) 145 — (507 ) Gross profit 107,562 17,219 — 124,781 Selling, general and administrative expenses 67,858 9,982 — 77,840 Merger costs 148 — — 148 Equity in earnings of guarantor subsidiaries 4,230 — (4,230 ) — Gain on sales of property and equipment, net 556 324 — 880 Income from operations 44,342 7,561 (4,230 ) 47,673 Other income (expense): Interest expense (13,886 ) (3,381 ) — (17,267 ) Other, net 439 50 — 489 Total other expense, net (13,447 ) (3,331 ) — (16,778 ) Income before income taxes 30,895 4,230 (4,230 ) 30,895 Income tax expense 8,281 — — 8,281 Net income $ 22,614 $ 4,230 $ (4,230 ) $ 22,614 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Six Months Ended June 30, 2020 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 286,995 $ 43,318 $ — $ 330,313 New equipment sales 71,498 3,322 — 74,820 Used equipment sales 56,452 8,779 — 65,231 Parts sales 49,511 6,478 — 55,989 Services revenues 28,243 4,236 — 32,479 Other 4,589 837 — 5,426 Total revenues 497,288 66,970 — 564,258 Cost of revenues: Rental depreciation 103,538 15,604 — 119,142 Rental expense 42,504 6,329 — 48,833 Rental other 26,236 4,795 — 31,031 172,278 26,728 — 199,006 New equipment sales 63,822 2,863 — 66,685 Used equipment sales 38,290 5,430 — 43,720 Parts sales 36,672 4,583 — 41,255 Services revenues 9,367 1,346 — 10,713 Other 4,678 648 — 5,326 Total cost of revenues 325,107 41,598 — 366,705 Gross profit (loss): Equipment rentals 114,717 16,590 — 131,307 New equipment sales 7,676 459 — 8,135 Used equipment sales 18,162 3,349 — 21,511 Parts sales 12,839 1,895 — 14,734 Services revenues 18,876 2,890 — 21,766 Other (89 ) 189 — 100 Gross profit 172,181 25,372 — 197,553 Selling, general and administrative expenses 128,752 18,733 — 147,485 Impairment of goodwill 61,994 — — 61,994 Merger costs 158 — — 158 Equity in earnings of guarantor subsidiaries 1,678 — (1,678 ) — Gain on sales of property and equipment, net 6,270 888 — 7,158 Income (loss) from operations (10,775 ) 7,527 (1,678 ) (4,926 ) Other income (expense): Interest expense (25,647 ) (5,955 ) — (31,602 ) Other, net 1,166 106 — 1,272 Total other expense, net (24,481 ) (5,849 ) — (30,330 ) Income (loss) before income taxes (35,256 ) 1,678 (1,678 ) (35,256 ) Income tax benefit (7,103 ) — — (7,103 ) Net income (loss) $ (28,153 ) $ 1,678 $ (1,678 ) $ (28,153 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Six Months Ended June 30, 2019 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 323,965 $ 44,466 $ — $ 368,431 New equipment sales 99,616 13,083 — 112,699 Used equipment sales 55,580 10,182 — 65,762 Parts sales 54,042 8,257 — 62,299 Services revenues 27,307 4,986 — 32,293 Other (224 ) 5,975 — 5,751 Total revenues 560,286 86,949 — 647,235 Cost of revenues: Rental depreciation 102,623 15,959 — 118,582 Rental expense 44,295 7,492 — 51,787 Rental other 34,122 — — 34,122 181,040 23,451 — 204,491 New equipment sales 87,639 11,524 — 99,163 Used equipment sales 35,833 6,500 — 42,333 Parts sales 39,812 5,767 — 45,579 Services revenues 8,841 1,522 — 10,363 Other 860 5,965 — 6,825 Total cost of revenues 354,025 54,729 — 408,754 Gross profit (loss): Equipment rentals 142,925 21,015 — 163,940 New equipment sales 11,977 1,559 — 13,536 Used equipment sales 19,747 3,682 — 23,429 Parts sales 14,230 2,490 — 16,720 Services revenues 18,466 3,464 — 21,930 Other (1,084 ) 10 — (1,074 ) Gross profit 206,261 32,220 — 238,481 Selling, general and administrative expenses 136,413 20,074 — 156,487 Merger costs 267 — — 267 Equity in earnings of guarantor subsidiaries 5,955 — (5,955 ) — Gain on sales of property and equipment, net 1,263 358 — 1,621 Income from operations 76,799 12,504 (5,955 ) 83,348 Other income (expense): Interest expense (27,448 ) (6,674 ) — (34,122 ) Other, net 896 125 — 1,021 Total other expense, net (26,552 ) (6,549 ) — (33,101 ) Income before income taxes 50,247 5,955 (5,955 ) 50,247 Income tax expense 13,390 — — 13,390 Net income $ 36,857 $ 5,955 $ (5,955 ) $ 36,857 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2020 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Cash flows from operating activities: Net income (loss) $ (28,153 ) $ 1,678 $ (1,678 ) $ (28,153 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization on property and equipment 11,934 2,835 — 14,769 Depreciation of rental equipment 103,538 15,604 — 119,142 Amortization of finance lease right-of-use assets — 81 — 81 Amortization of intangible assets 2,002 — — 2,002 Amortization of deferred financing costs 504 — — 504 Accretion of note discount, net of premium amortization 238 — — 238 Non-cash operating lease expense 5,695 65 — 5,760 Impairment of goodwill 61,994 — — 61,994 Provision for losses on accounts receivable 2,725 225 — 2,950 Provision for inventory obsolescence 12 — — 12 Change in deferred income taxes (7,211 ) — — (7,211 ) Stock-based compensation expense 2,656 — — 2,656 Gain from sales of property and equipment, net (6,270 ) (888 ) — (7,158 ) Gain from sales of rental equipment, net (17,912 ) (3,312 ) — (21,224 ) Equity in earnings of guarantor subsidiaries (1,678 ) — 1,678 — Changes in operating assets and liabilities: Receivables 35,176 7,588 — 42,764 Inventories (10,995 ) (1,402 ) — (12,397 ) Prepaid expenses and other assets (8,454 ) (86 ) — (8,540 ) Accounts payable 13,474 603 — 14,077 Manufacturer flooring plans payable (8,524 ) — — (8,524 ) Accrued expenses payable and other liabilities (12,203 ) (1,123 ) — (13,326 ) Deferred compensation payable 50 — — 50 Net cash provided by operating activities 138,598 21,868 — 160,466 Cash flows from investing activities: Purchases of property and equipment (11,666 ) (1,845 ) — (13,511 ) Purchases of rental equipment (57,228 ) 1,780 — (55,448 ) Proceeds from sales of property and equipment 8,978 1,412 — 10,390 Proceeds from sales of rental equipment 51,174 8,582 — 59,756 Investment in subsidiaries 31,673 — (31,673 ) — Net cash provided by investing activities 22,931 9,929 (31,673 ) 1,187 Cash flows from financing activities: Borrowings on senior secured credit facility 496,011 — — 496,011 Payments on senior secured credit facility (645,329 ) — — (645,329 ) Dividends paid (19,737 ) (4 ) — (19,741 ) Purchases of treasury stock (470 ) — — (470 ) Payments on finance lease obligations — (120 ) — (120 ) Capital contributions — (31,673 ) 31,673 — Net cash used in financing activities (169,525 ) (31,797 ) 31,673 (169,649 ) Net decrease in cash (7,996 ) — — (7,996 ) Cash, beginning of period 14,247 — — 14,247 Cash, end of period $ 6,251 $ — $ — $ 6,251 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2019 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Cash flows from operating activities: Net income $ 36,857 $ 5,955 $ (5,955 ) $ 36,857 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of property and equipment 11,993 1,634 — 13,627 Depreciation of rental equipment 102,623 15,959 — 118,582 Amortization of finance lease right-of-use assets — 81 — 81 Amortization of intangible assets 2,049 — — 2,049 Amortization of deferred financing costs 504 — — 504 Accretion of note discount, net of premium amortization 239 — — 239 Non-cash operating lease expense 5,206 67 — 5,273 Provision for losses on accounts receivable 2,197 283 — 2,480 Provision for inventory obsolescence 115 — — 115 Change in deferred income taxes 12,239 — — 12,239 Stock-based compensation expense 2,023 — — 2,023 Gain from sales of property and equipment, net (1,263 ) (358 ) — (1,621 ) Gain from sales of rental equipment, net (19,568 ) (3,671 ) — (23,239 ) Equity in earnings of guarantor subsidiaries (5,955 ) — 5,955 — Changes in operating assets and liabilities, net of acquisitions: Receivables 840 3,924 — 4,764 Inventories (49,636 ) (6,361 ) — (55,997 ) Prepaid expenses and other assets (2,887 ) (82 ) — (2,969 ) Accounts payable 16,782 (190 ) — 16,592 Manufacturer flooring plans payable 1,888 (488 ) — 1,400 Accrued expenses payable and other liabilities 723 1,175 — 1,898 Deferred compensation payable 55 — — 55 Net cash provided by operating activities 117,024 17,928 — 134,952 Cash flows from investing activities: Acquisition of businesses, net of cash acquired (106,746 ) — — (106,746 ) Purchases of property and equipment (15,723 ) (2,845 ) — (18,568 ) Purchases of rental equipment (153,724 ) (20,950 ) — (174,674 ) Proceeds from sales of property and equipment 1,777 396 — 2,173 Proceeds from sales of rental equipment 51,799 9,869 — 61,668 Investment in subsidiaries 4,337 — (4,337 ) — Net cash used in investing activities (218,280 ) (13,530 ) (4,337 ) (236,147 ) Cash flows from financing activities: Borrowings on senior secured credit facility 797,029 — — 797,029 Payments on senior secured credit facility (685,080 ) — — (685,080 ) Dividends paid (19,667 ) (3 ) — (19,670 ) Purchases of treasury stock (387 ) — — (387 ) Payments of deferred financing costs (559 ) — — (559 ) Payments of finance lease obligations (56 ) (58 ) — (114 ) Capital contributions — (4,337 ) 4,337 — Net cash provided by (used in) financing activities 91,280 (4,398 ) 4,337 91,219 Net decrease in cash (9,976 ) — — (9,976 ) Cash, beginning of period 16,677 — — 16,677 Cash, end of period 6,701 — — 6,701

Organization and Nature of Op_2

Organization and Nature of Operations (Policies)	6 Months Ended
	Jun. 30, 2020
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 month periods ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020, 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, 2019, from which the consolidated balance sheet amounts as of December 31, 2019 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.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates We prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America, which requires management to use its judgment to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosures at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. These assumptions and estimates could have a material effect on our condensed consolidated financial statements. Actual results may differ materially from those estimates. We review our estimates on an ongoing basis based on information currently available, and changes in facts and circumstances may cause us to revise these estimates.
Revenue Recognition	Revenue Recognition Under Topic 606, Revenue from Contracts with Customers, revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. As described below, we adopted Topic 842, Leases, on January 1, 2019. We recognize revenue in accordance with two different accounting standards: 1) Topic 606 and 2) Topic 842. Under Topic 606, revenue from contracts with customers is measured based on the consideration specified in the contract with the customer, and excludes any sales incentives and amounts collected on behalf of third parties. A performance obligation is a promise in a contract to transfer a distinct good or service to a customer. Our contracts with customers generally do not include multiple performance obligations. We recognize revenue when we satisfy a performance obligation by transferring control over a product or service to a customer. The amount of revenue recognized reflects the consideration we expect to be entitled to in exchange for such products or services. In the table below, revenues as presented in our condensed consolidated statements of operations for the three and six month periods ended June 30, 2020 and 2019 are summarized by type and by the applicable accounting standard. Three Month Period Ended June 30, 2020 2019 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 135,503 $ 204 $ 135,707 $ 167,072 $ 245 $ 167,317 Re-rent revenue 5,069 — 5,069 6,520 — 6,520 Ancillary and other rental revenues: Delivery and pick-up — 8,603 8,603 — 10,313 10,313 Other 6,415 — 6,415 8,152 — 8,152 Total ancillary rental revenues 6,415 8,603 15,018 8,152 10,313 18,465 Total equipment rental revenues 146,987 8,807 155,794 181,744 10,558 192,302 New equipment sales — 43,947 43,947 — 53,596 53,596 Used equipment sales — 34,013 34,013 — 36,128 36,128 Parts sales — 26,220 26,220 — 31,871 31,871 Service revenues — 15,657 15,657 — 16,725 16,725 Other — 2,705 2,705 — 2,975 2,975 Total revenues $ 146,987 $ 131,349 $ 278,336 $ 181,744 $ 151,853 $ 333,597 Six Month Period Ended June 30, 2020 2019 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 289,173 $ 462 $ 289,635 $ 320,422 $ 519 $ 320,941 Re-rent revenue 9,760 — 9,760 12,556 — 12,556 Ancillary and other rental revenues: Delivery and pick-up — 17,729 17,729 — 19,295 19,295 Other 13,189 — 13,189 15,639 — 15,639 Total ancillary rental revenues 13,189 17,729 30,918 15,639 19,295 34,934 Total equipment rental revenues 312,122 18,191 330,313 348,617 19,814 368,431 New equipment sales — 74,820 74,820 — 112,699 112,699 Used equipment sales — 65,231 65,231 — 65,762 65,762 Parts sales — 55,989 55,989 — 62,299 62,299 Service revenues — 32,479 32,479 — 32,293 32,293 Other — 5,426 5,426 — 5,751 5,751 Total revenues $ 312,122 $ 252,136 $ 564,258 $ 348,617 $ 298,618 $ 647,235 Revenues by reporting segment are presented in note 12 of our condensed consolidated financial statements, using the revenue captions reflected in our consolidated statements of operations. We believe that the disaggregation of our revenues from contracts with customers as reflected above, coupled with further discussion below and the reporting segments in note 12, depict how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors. For further information related to our accounting for revenues pursuant to Topic 606 and Topic 842, see Significant Accounting Policies in note 2 to our Annual Report on Form 10-K for the year ended December 31, 2019. Receivables and contract assets and liabilities We manage credit risk associated with our accounts receivables at the customer level. Because the same customers typically generate the revenues that are accounted for under both Topic 606 and Topic 842, the discussions below on credit risk and our allowance for doubtful accounts address our total revenues from Topic 606 and Topic 842. We believe concentration of credit risk with respect to our receivables is limited because our customer base is comprised of a large number of geographically diverse customers. No single customer accounted for more than 10% of our revenues on an overall or segment basis for any of the periods presented in this Quarterly Report on Form 10-Q. We manage credit risk through credit approvals, credit limits and other monitoring procedures. Pursuant to Topic 842 and Topic 326 for rental and non-rental receivables, respectively, we maintain an allowance for doubtful accounts that reflects our estimate of our expected credit losses. Our allowance is estimated using a loss rate model based on delinquency. The estimated loss rate is based on our historical experience with specific customers, our understanding of our current economic circumstances, reasonable and supportable forecasts, and our own judgment as to the likelihood of ultimate payment based upon available data. Our largest exposure to doubtful accounts is in our rental operations. We perform credit evaluations of customers and establish credit limits based on reviews of our customers’ current credit information and payment histories. We believe our credit risk is somewhat mitigated by our geographically diverse customer base and our credit evaluation procedures. The actual rate of future credit losses, however, may not be similar to past experience. Our estimate of doubtful accounts could change based on changing circumstances, including changes in the economy or in the particular circumstances of individual customers. Accordingly, we may be required to increase or decrease our allowance for doubtful accounts . We do not have material contract assets, impairment losses associated therewith, or material contract liabilities associated with contracts with customers. Our contracts with customers do not generally result in material amounts billed to customers in excess of recognizable revenue. We did not recognize material revenues during the three and six month periods ended June 30, 2020 or 2019 that were included in the contract liability balance as of the beginning of such periods.
Goodwill	Goodwill Goodwill is recorded as the excess of the consideration transferred plus the fair value of any non-controlling interest in the acquiree at the acquisition date over the fair values of the identifiable net assets acquired. We evaluate goodwill for impairment at least annually, or more frequently if triggering events occur or other impairment indicators arise which might impair recoverability. Impairment of goodwill is evaluated at the reporting unit level. A reporting unit is defined as an operating segment (i.e. before aggregation or combination), or one level below an operating segment (i.e., a component). A component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information is available and segment management regularly reviews the operating results of that component. We have identified two components within our Rental operating segment (Equipment Rental Component 1 and Equipment Rental Component 2) and have determined that each of our other operating segments (New Equipment Sales, Used Equipment Sales, Parts Sales and Service Revenues) represent a reporting unit, resulting in six total reporting units. As further described in our Annual Report on Form 10-K for the year ended December 31, 2019, we recorded in the fourth quarter of 2019 impairment charges of $10.7 million and $1.5 million related to our new equipment sales goodwill reporting unit and our service revenues goodwill reporting unit, respectively. As a result, and as indicated in the goodwill reporting unit carrying values rollforward below, these two reporting units had no carrying value at December 31, 2019. As further described below, as of March 31, 2020, we recorded an impairment charge of $62.0 million related to our Equipment Rental Component 2 reporting unit. As a result, and as indicated in the goodwill reporting unit carrying values rollforward below, this reporting unit has no remaining carrying value. The goodwill impairment test consists of one step, comparing the fair value of a reporting unit with its carrying amount. An entity should recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, limited to the total amount of goodwill allocated to the reporting unit. Based on our evaluation of the impact to our business in the first quarter of 2020 from the COVID-19 pandemic, we identified triggering events requiring an interim impairment test as of March 31, 2020. These triggering events included a deterioration in macroeconomic conditions, declines in business volume in our industry, a decline in our actual revenue and earnings compared with our planned revenue and earnings, and a sustained decrease in our stock price. For the interim impairment test as of March 31, 2020, we estimated the fair value of our reporting units by equally weighting results from the income approach and the market approach and we compared those fair values to the carrying values of our four reporting units with carrying values, and determined that our Equipment Rental Component 2 reporting unit had a fair value less than its carrying value, resulting in a $62.0 million impairment charge. The impairment was largely due to Equipment Rental Component 2’s forecasted declines in 2020 rental revenues, which was driven by the decrease in equipment rental demand that began in March 2020 as COVID-19’s impact became more widespread across our geographic footprint, combined with our revenue growth rate and cash flow assumptions for the remaining forecast period under the income approach, and the decline in the fair value of Equipment Rental Component 2 based on the market approach from declining business enterprise values of comparable companies in our industry, resulting in a decrease in revenue and EBITDA multiples of those companies. We determined that our Equipment Rental Component 1, Used Equipment Sales and Parts Sales reporting units were not impaired as their respective fair values exceeded their respective carrying values by approximately 34%, 90%, and 40%, respectively. Significant assumptions inherent in the valuation methodologies for goodwill are employed and include, prospective financial information, growth rates, terminal value, discount rates, and comparable multiples from publicly traded companies in our industry. The inputs and variables used in determining the fair value of a reporting unit require management to make certain assumptions regarding the impact of operating and macroeconomic changes, as well as estimates of future cash flows. Our estimates regarding future cash flows are based on historical experience and projections of future operating performance, including revenues, margins and operating expenses. We also make certain forecasts about future economic conditions, such as the timing and duration of economic expansion or contraction cycles in our business, interest rates, and other market data. Many of the factors used in assessing fair value are outside the control of management, and these assumptions and estimates may change in future periods. An adverse change in any of the assumptions used in our impairment testing (e.g. projected revenue and profit, discount rates, industry price multiples, etc.), including the uncertainty related to the depth and duration of COVID-19’s impact on our forecasted cash flows, could affect our fair value measurements and result in future impairments. If we are unable to achieve the financial forecasts used in our impairment analysis, we may also be required to record an impairment charge to our goodwill. The impairment charge is a non-cash item and will not affect our cash flows, liquidity or borrowing capacity under the senior credit facility, and the charge is excluded from our financial results in evaluating our financial covenant under the senior secured credit facility. The changes in the carrying amount of goodwill for our reporting units for the periods ended June 30, 2020 and December 31, 2019 were as follows (amounts in thousands): Eq. Rental Comp. 1 Eq. Rental Comp. 2 New Eq. Sales Used Eq. Sales Parts Sales Service Revenues Total Balance at December 31, 2018 $ 34,297 $ 42,536 $ 10,434 $ 8,461 $ 8,910 $ 1,205 $ 105,843 Increases (1) 14,918 19,775 254 500 2,045 291 37,783 Decreases (2) — — (10,688 ) — — (1,496 ) (12,184 ) Balance at December 31, 2019 49,215 62,311 — 8,961 10,955 — 131,442 Decreases (3) (239 ) (317 ) — (8 ) (33 ) — (597 ) Decreases (4) — (61,994 ) — — — — (61,994 ) Balance at June 30, 2020 $ 48,976 $ — $ — $ 8,953 $ 10,922 $ — $ 68,851 (1) Increases are related to goodwill recognized in the Cobra Equipment Rentals, LLC 2019 acquisition. See footnote 3 for further information. (2) Decreases are related to the goodwill impairment calculated as of October 1, 2019. (3) Decreases are related to an adjustment from the final closing settlement of the Cobra Equipment Rentals, LLC 2019 acquisition during the first quarter of 2020. (4) Decrease is related to the goodwill impairment calculated as of March 31, 2020.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Pronouncements Not Yet Adopted In December 2019, the FASB issued Accounting Standards Update (“ASU”) No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in Accounting Standards Codification (“ASC”) 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. ASU 2019-12 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2020, and generally requires prospective adoption. While we continue to evaluate the new guidance of ASU 2019-12, we currently do not expect the guidance to have a material impact on our consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional guidance for a limited time to ease the potential burden in accounting for or recognizing the effects of reference rate reform, particularly, the risk of cessation of the London Interbank Offered Rate (“LIBOR”) on financial reporting. The guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments are elective and are effective upon issuance for all entities through December 31, 2022. The amendments of this ASU should be applied on a prospective basis. The Company is currently evaluating the impact of the new guidance. In March 2020, the Securities and Exchange Commission (“SEC”) adopted final rules that amend the financial disclosure requirements for subsidiary issuers and guarantors of registered debt securities in Rule 3-10 of Regulation S-X. The SEC also amended the disclosure requirements for affiliates whose securities are pledged as collateral for registered securities in Rule 3-16 of Regulation S-X. The disclosure requirements, as amended, are now relocated to newly created Rules 13-01 and 13-02 in Regulation S-X, while the amended eligibility requirements remain in Rule 3-10. The SEC amended its financial disclosure requirements for companies that conduct registered debt offerings involving subsidiaries as either issuers or guarantors and affiliates whose securities are pledged as collateral. The SEC also narrowed the circumstances that require separate financial statements of subsidiary issuers and guarantors and streamlined the alternative disclosures required in lieu of those statements. Further, the SEC replaced the requirement for separate financial statements of affiliates whose securities are pledged as collateral for registered securities with requirements similar to those adopted for subsidiary issuers and guarantors. Previously, with limited exceptions, a parent entity was required to provide detailed disclosures with regard to guarantors of registered debt offerings within the footnotes to the consolidated financial statements. Under the new regulations, disclosure exceptions have been expanded and required disclosures may be provided within Item 2. — “ Management’s Discussion and Analysis of Financial Condition and Results of Operations ” rather than in the notes to the consolidated financial statements. Further, summarized guarantor balance sheet s and income statements are permitted, with the requirement to provide guarantor cash flow statements eliminated. Summarized guarantor financial statements only need be disclosed for the current fiscal year rather than all years presented in the financial statements as was previously required. The rule is effective January 4, 2021, but earlier compliance is permitted. On May 20, 2020, the SEC issued a final rule that amends the financial statement requirements for acquisitions and dispositions of businesses, including real estate operations, and related pro forma financial information. As noted in the final rule, the amendments are intended to improve for investors the financial information about acquired or disposed businesses, facilitate more timely access to capital, and reduce the complexity and costs to prepare the disclosure. Among other changes, the final rule modifies the significance tests and improves the disclosure requirements for acquired or to be acquired businesses, real estate operations, and pro forma financial information. The final rule is applicable for a registrant’s fiscal year beginning after December 31, 2020, but early application is permitted. The Company is currently evaluating the impact of the final rules. Pronouncements Adopted in 2020 Credit Losses On January 1, 2020, we adopted Accounting Standards Codification Topic 326, Credit Losses Fair Value On January 1, 2020, we adopted ASU No. 2018-13, Fair Value Measurement - Disclosure Framework. ASU 2018-13 modifies the disclosure requirements for fair value measurements. Entities are no longer required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but public companies are required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. The adoption of ASU 2018-13 did not have a material impact on our consolidated financial statements and footnotes.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of Revenues by Type and by Applicable Accounting Standard	In the table below, revenues as presented in our condensed consolidated statements of operations for the three and six month periods ended June 30, 2020 and 2019 are summarized by type and by the applicable accounting standard. Three Month Period Ended June 30, 2020 2019 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 135,503 $ 204 $ 135,707 $ 167,072 $ 245 $ 167,317 Re-rent revenue 5,069 — 5,069 6,520 — 6,520 Ancillary and other rental revenues: Delivery and pick-up — 8,603 8,603 — 10,313 10,313 Other 6,415 — 6,415 8,152 — 8,152 Total ancillary rental revenues 6,415 8,603 15,018 8,152 10,313 18,465 Total equipment rental revenues 146,987 8,807 155,794 181,744 10,558 192,302 New equipment sales — 43,947 43,947 — 53,596 53,596 Used equipment sales — 34,013 34,013 — 36,128 36,128 Parts sales — 26,220 26,220 — 31,871 31,871 Service revenues — 15,657 15,657 — 16,725 16,725 Other — 2,705 2,705 — 2,975 2,975 Total revenues $ 146,987 $ 131,349 $ 278,336 $ 181,744 $ 151,853 $ 333,597 Six Month Period Ended June 30, 2020 2019 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 289,173 $ 462 $ 289,635 $ 320,422 $ 519 $ 320,941 Re-rent revenue 9,760 — 9,760 12,556 — 12,556 Ancillary and other rental revenues: Delivery and pick-up — 17,729 17,729 — 19,295 19,295 Other 13,189 — 13,189 15,639 — 15,639 Total ancillary rental revenues 13,189 17,729 30,918 15,639 19,295 34,934 Total equipment rental revenues 312,122 18,191 330,313 348,617 19,814 368,431 New equipment sales — 74,820 74,820 — 112,699 112,699 Used equipment sales — 65,231 65,231 — 65,762 65,762 Parts sales — 55,989 55,989 — 62,299 62,299 Service revenues — 32,479 32,479 — 32,293 32,293 Other — 5,426 5,426 — 5,751 5,751 Total revenues $ 312,122 $ 252,136 $ 564,258 $ 348,617 $ 298,618 $ 647,235
Schedule of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for our reporting units for the periods ended June 30, 2020 and December 31, 2019 were as follows (amounts in thousands): Eq. Rental Comp. 1 Eq. Rental Comp. 2 New Eq. Sales Used Eq. Sales Parts Sales Service Revenues Total Balance at December 31, 2018 $ 34,297 $ 42,536 $ 10,434 $ 8,461 $ 8,910 $ 1,205 $ 105,843 Increases (1) 14,918 19,775 254 500 2,045 291 37,783 Decreases (2) — — (10,688 ) — — (1,496 ) (12,184 ) Balance at December 31, 2019 49,215 62,311 — 8,961 10,955 — 131,442 Decreases (3) (239 ) (317 ) — (8 ) (33 ) — (597 ) Decreases (4) — (61,994 ) — — — — (61,994 ) Balance at June 30, 2020 $ 48,976 $ — $ — $ 8,953 $ 10,922 $ — $ 68,851 (1) Increases are related to goodwill recognized in the Cobra Equipment Rentals, LLC 2019 acquisition. See footnote 3 for further information. (2) Decreases are related to the goodwill impairment calculated as of October 1, 2019. (3) Decreases are related to an adjustment from the final closing settlement of the Cobra Equipment Rentals, LLC 2019 acquisition during the first quarter of 2020. (4) Decrease is related to the goodwill impairment calculated as of March 31, 2020.

Acquisitions (Tables)

Acquisitions (Tables) - We-Rent-It [Member]	6 Months Ended
	Jun. 30, 2020
Business Acquisition [Line Items]
Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the fair value of the assets acquired and liabilities assumed as of the acquisition date. T he final closing statement was settled during the first quarter of 2020, resulting in a $0.6 million decrease in the total consideration paid $’s in thousands Cash $ 1,745 Accounts receivable 5,119 Inventory 731 Prepaid expenses and other assets 544 Rental equipment 51,747 Property and equipment 3,207 Other assets 21 Intangible assets (1) 8,700 Total identifiable assets acquired 71,814 Accounts payable (115 ) Accrued expenses payable and other liabilities (991 ) Total liabilities assumed (1,106 ) Net identifiable assets acquired 70,708 Goodwill (2) 37,186 Net assets acquired $ 107,894 (1) The following table reflects the estimated fair values and useful lives of the acquired intangible assets identified based on our purchase accounting assessments: Fair Value (amounts in thousands) Life (years) Customer relationships $ 8,500 10 Tradenames 200 1 $ 8,700 (2) We have allocated the $37.2 million goodwill among our six goodwill reporting units as follows (amounts in thousands): Rental Component 1 $ 14,679 Rental Component 2 19,458 New Equipment 254 Used Equipment 492 Parts 2,012 Service 291 $ 37,186
Unaudited Pro Forma Consolidated Statements of Operations Information	Pursuant to ASC 805, Business Combinations, pro forma disclosures should be repeated whenever the year or interim period of the acquisition is presented. Since the WRI acquisition was completed in the first quarter of 2019, the pro forma information below gives effect to the WRI acquisition as if the acquisition occurred on January 1, 2018 (the WRI pro forma acquisition date) for the quarterly periods ended June 30, 2018. The tables below present unaudited pro forma consolidated statements of operations information for the three and six month periods ended June 30, 2018 as if WRI was included in our consolidated results for the entire period presented . (amounts in thousands, except per share data) Three Month Period Ended June 30, 2018 H&E(1) We-Rent-It Total Total revenues $ 310,364 $ 9,640 $ 320,004 Pretax income 27,869 2,432 30,301 Pro forma adjustments to pretax income: Impact of fair value mark-ups/useful life changes on depreciation (2) — (1,976 ) (1,976 ) Intangible asset amortization (3) — (313 ) (313 ) Interest expense (4) — (1,476 ) (1,476 ) Elimination of historic interest expense (5) — 126 126 Pro forma pretax income (loss) 27,869 (1,207 ) 26,662 Income tax expense (benefit) 7,098 (301 ) 6,797 Net income (loss) $ 20,771 $ (906 ) $ 19,865 Net income (loss) per share – basic (6) $ 0.58 $ (0.03 ) $ 0.56 Net income (loss) per share – diluted (6) $ 0.58 $ (0.03 ) $ 0.55 (amounts in thousands, except per share data) Six Month Period Ended June 30, 2018 H&E(1) Rental Inc.(7) We-Rent-It Total Total revenues $ 570,846 $ 7,408 $ 17,227 $ 595,481 Pretax income 40,937 1,020 3,216 45,173 Pro forma adjustments to pretax income: Impact of fair value mark-ups/useful life changes on depreciation (2) — (749 ) (2,226 ) (2,975 ) Intangible asset amortization (3) — (275 ) (435 ) (710 ) Interest expense (4) — (480 ) (2,832 ) (3,312 ) Elimination of historic interest expense (5) — 82 206 288 Pro forma pretax income (loss) 40,937 (402 ) (2,071 ) 38,464 Income tax expense (benefit) 10,688 (105 ) (536 ) 10,047 Net income (loss) $ 30,249 $ (297 ) $ (1,535 ) $ 28,417 Net income (loss) per share – basic (6) $ 0.85 $ (0.01 ) $ (0.04 ) $ 0.80 Net income (loss) per share – diluted (6) $ 0.84 $ (0.01 ) $ (0.04 ) $ 0.79 (1) Amounts presented above for “H&E” are derived from the Company’s consolidated statements of income in its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2018. (2) Depreciation of rental equipment and non-rental equipment were adjusted for the fair value markups, and the changes in useful lives and salvage values of the equipment acquired in the acquisition. (3) Represents the amortization of the intangible assets acquired in the acquisition. (4) Interest expense was adjusted to reflect the additional debt resulting from the acquisition. (5) Represents the elimination of historic debt of WRI that is not part of the combined entity. (6) Because of the method used in calculating per share data, the summation of entities may not necessarily total to the per share data computed for the total company due to rounding. (7) Represents Rental Inc. pro forma operating results for the three month period ended March 31, 2018. We completed the Rental Inc. acquisition on April 1, 2018.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2020
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, 2020 and December 31, 2019 are presented in the table below (amounts in thousands). June 30, 2020 Carrying Amount Fair Value Manufacturer flooring plans payable with interest computed at 3.50% (Level 3) $ 16,677 $ 15,042 Senior unsecured notes due 2025 with interest computed at 5.625% (Level 2) 945,958 959,500 December 31, 2019 Carrying Amount Fair Value Manufacturer flooring plans payable with interest computed at 5.25% (Level 3) $ 25,201 $ 21,615 Senior unsecured notes due 2025 with interest computed at 5.625% (Level 2) 945,566 995,125

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Summary of Activity in Stockholders' Equity	The following table summarizes the quarterly activity in Stockholders’ Equity for the periods ended June 30, 2020 and 2019, respectively (amounts in thousands, except share data): Common Stock Additional Total Shares Issued Amount Paid-in Capital Treasury Stock Retained Earnings Stockholders’ Equity Balances at December 31, 2019 39,921,838 $ 398 $ 235,844 $ (64,783 ) $ 136,060 $ 307,519 Stock-based compensation — — 1,652 — — 1,652 Cash dividends declared on common stock ($0.275 per share) — — — — (9,789 ) (9,789 ) Issuance of common stock, net of restricted stock forfeitures 98,451 1 — — — 1 Repurchase of 26,392 shares of restricted common stock — — — (470 ) — (470 ) Net loss — — — — (36,968 ) (36,968 ) Balances at March 31, 2020 40,020,289 399 237,496 (65,253 ) 89,303 261,945 Stock-based compensation — — 1,004 — — 1,004 Cash dividends declared on common stock ($0.275 per share) — — — — (9,896 ) (9,896 ) Restricted stock forfeitures (6,732 ) — — — — — Net income — — — — 8,815 8,815 Balances at June 30, 2020 $ 40,013,557 $ 399 $ 238,500 $ (65,253 ) $ 88,222 $ 261,868 Balances at December 31, 2018 39,748,562 $ 396 $ 231,174 $ (63,099 ) $ 88,332 $ 256,803 Stock-based compensation — — 1,188 — — 1,188 Cash dividends declared on common stock ($0.275 per share) — — — — (9,793 ) (9,793 ) Issuance of common stock, net of restricted stock forfeitures 59,510 1 — — — 1 Repurchase of 14,272 shares of restricted common stock — — — (387 ) — (387 ) Cumulative effect adjustment pursuant to the adoption of ASC 842 — — — — (56 ) (56 ) Net income — — — — 14,243 14,243 Balances at March 31, 2019 39,808,072 397 232,362 (63,486 ) 92,726 261,999 Stock-based compensation — — 835 — — 835 Cash dividends declared on common stock ($0.275 per share) — — — — (9,857 ) (9,857 ) Restricted stock forfeitures (2,666 ) — — — — — Net income — — — — 22,614 22,614 Balances at June 30, 2019 39,805,406 $ 397 $ 233,197 $ (63,486 ) $ 105,483 $ 275,591

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Non-Vested Stock Activity	The following table summarizes our non-vested stock activity for the six month period ended June 30, 2020: Number of Shares Weighted Average Grant Date Fair Non-vested stock at December 31, 2019 377,740 $ 29.26 Granted 23,608 $ 27.11 Vested (73,564 ) $ 24.03 Forfeited (8,608 ) $ 31.15 Non-vested stock at June 30, 2020 319,176 $ 30.26
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 operations for the three and six month periods ended June 30, 2020 and 2019 (amounts in thousands): For the Three Months Ended June 30, For the Six Months Ended June 30, 2020 2019 2020 2019 Compensation expense $ 1,004 $ 835 $ 2,656 $ 2,023

Income (Loss) per Share (Tables

Income (Loss) per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Net Income (Loss) Per Common Share	The following table sets forth the computation of basic and diluted net income (loss) per common share for the three and six month periods ended June 30, 2020 and 2019 (amounts in thousands, except per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Basic net income (loss) per share: Net income (loss) $ 8,815 $ 22,614 $ (28,153 ) $ 36,857 Weighted average number of common shares outstanding 36,031 35,826 35,998 35,807 Net income (loss) per share of common stock – basic $ 0.24 $ 0.63 $ (0.78 ) $ 1.03 Diluted net income (loss) per share: Net income (loss) $ 8,815 $ 22,614 $ (28,153 ) $ 36,857 Weighted average number of common shares outstanding 36,031 35,826 35,998 35,807 Effect of dilutive securities: Effect of dilutive non-vested restricted stock 76 190 — 187 Weighted average number of common shares outstanding – diluted 36,107 36,016 35,998 35,994 Net income (loss) per share of common stock – diluted $ 0.24 $ 0.63 $ (0.78 ) $ 1.02 Common shares excluded from the denominator as anti-dilutive: Non-vested restricted stock — — — 19

Senior Unsecured Notes (Tables)

Senior Unsecured Notes (Tables)	6 Months Ended
	Jun. 30, 2020
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Reconciliation of Senior Unsecured Notes to Condensed Consolidated Balance Sheets	The following table reconciles our Senior Unsecured Notes to our Condensed Consolidated Balance Sheets (amounts in thousands): Balance at December 31, 2018 $ 944,780 Accretion of discount through December 31, 2019 1,539 Amortization of note premium through December 31, 2019 (1,062 ) Amortization of deferred financing costs through December 31, 2019 309 Balance at December 31, 2019 $ 945,566 Accretion of discount through June 30, 2020 770 Amortization of note premium through June 30, 2020 (532 ) Amortization of deferred financing costs through June 30, 2020 154 Balance at June 30, 2020 $ 945,958

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Schedule of 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, 2020 2019 2020 2019 Segment Revenues: Equipment rentals $ 155,794 $ 192,302 $ 330,313 $ 368,431 New equipment sales 43,947 53,596 74,820 112,699 Used equipment sales 34,013 36,128 65,231 65,762 Parts sales 26,220 31,871 55,989 62,299 Services revenues 15,657 16,725 32,479 32,293 Total segmented revenues 275,631 330,622 558,832 641,484 Non-segmented revenues 2,705 2,975 5,426 5,751 Total revenues $ 278,336 $ 333,597 $ 564,258 $ 647,235 Segment Gross Profit: Equipment rentals $ 59,148 $ 86,002 $ 131,307 $ 163,940 New equipment sales 4,688 6,532 8,135 13,536 Used equipment sales 10,731 12,807 21,511 23,429 Parts sales 6,868 8,581 14,734 16,720 Services revenues 10,484 11,366 21,766 21,930 Total segmented gross profit 91,919 125,288 197,453 239,555 Non-segmented gross profit (loss) 151 (507 ) 100 (1,074 ) Total gross profit $ 92,070 $ 124,781 $ 197,553 $ 238,481 Balances at June 30, December 31, 2020 2019 Segment identified assets: Equipment sales $ 62,201 $ 67,542 Equipment rentals 1,133,857 1,217,673 Parts and services 17,252 17,936 Total segment identified assets 1,213,310 1,303,151 Non-segment identified assets 565,933 671,459 Total assets $ 1,779,243 $ 1,974,610

Condensed Consolidating Finan_2

Condensed Consolidating Financial Information of Guarantor Subsidiaries (Tables)	6 Months Ended
	Jun. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET As of June 30, 2020 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Assets: Cash $ 6,251 $ — $ — $ 6,251 Receivables, net 126,359 20,131 — 146,490 Inventories, net 75,550 3,903 — 79,453 Prepaid expenses and other assets 18,565 219 — 18,784 Rental equipment, net 999,960 133,897 — 1,133,857 Property and equipment, net 108,670 17,621 — 126,291 Operating lease right-of-use assets, net 144,870 20,659 — 165,529 Finance lease right-of-use assets, net — 284 — 284 Deferred financing costs, net 2,507 — — 2,507 Investment in guarantor subsidiaries 187,894 — (187,894 ) — Intangible assets, net 30,946 — — 30,946 Goodwill 57,185 11,666 — 68,851 Total assets $ 1,758,757 $ 208,380 $ (187,894 ) $ 1,779,243 Liabilities and Stockholders’ Equity: Amounts due on senior secured credit facility 67,561 $ — $ — $ 67,561 Accounts payable 69,102 3,231 — 72,333 Manufacturer flooring plans payable 16,677 — — 16,677 Accrued expenses payable and other liabilities 74,854 (4,387 ) — 70,467 Dividends payable 179 (64 ) — 115 Senior unsecured notes, net 945,958 — — 945,958 Operating lease right-of-use liabilities 147,495 21,276 — 168,771 Finance lease right-of-use liabilities — 430 — 430 Deferred income taxes 172,915 — — 172,915 Deferred compensation payable 2,148 — — 2,148 Total liabilities 1,496,889 20,486 — 1,517,375 Stockholders’ equity 261,868 187,894 (187,894 ) 261,868 Total liabilities and stockholders’ equity $ 1,758,757 $ 208,380 $ (187,894 ) $ 1,779,243 CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2019 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Assets: Cash $ 14,247 $ — $ — $ 14,247 Receivables, net 164,260 27,944 — 192,204 Inventories, net 81,945 3,533 — 85,478 Prepaid expenses and other assets 10,129 133 — 10,262 Rental equipment, net 1,062,154 155,519 — 1,217,673 Property and equipment, net 111,429 19,135 — 130,564 Operating lease right-of-use assets, net 137,625 18,945 — 156,570 Finance lease right-of-use assets, net — 365 — 365 Deferred financing costs, net 2,857 — — 2,857 Investment in guarantor subsidiaries 235,749 — (235,749 ) — Intangible assets, net 32,948 — — 32,948 Goodwill 101,916 29,526 — 131,442 Total assets $ 1,955,259 $ 255,100 $ (235,749 ) $ 1,974,610 Liabilities and Stockholders’ Equity: Amounts due under senior secured credit facility $ 216,879 $ — $ — $ 216,879 Accounts payable 56,225 2,628 — 58,853 Manufacturer flooring plans payable 25,201 — — 25,201 Accrued expenses payable and other liabilities 81,646 (3,264 ) — 78,382 Dividends payable 231 (60 ) — 171 Senior unsecured notes, net 945,566 — — 945,566 Operating lease right-of-use liabilities, net 139,768 19,497 — 159,265 Finance lease right-of-use liabilities, net — 550 — 550 Deferred income taxes 180,126 — — 180,126 Deferred compensation payable 2,098 — — 2,098 Total liabilities 1,647,740 19,351 — 1,667,091 Stockholders’ equity 307,519 235,749 (235,749 ) 307,519 Total liabilities and stockholders’ equity $ 1,955,259 $ 255,100 $ (235,749 ) $ 1,974,610
Condensed Consolidating Statement of Operations	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended June 30, 2020 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 135,148 $ 20,646 $ — $ 155,794 New equipment sales 42,494 1,453 — 43,947 Used equipment sales 29,522 4,491 — 34,013 Parts sales 23,630 2,590 — 26,220 Services revenues 14,061 1,596 — 15,657 Other 2,343 362 — 2,705 Total revenues 247,198 31,138 — 278,336 Cost of revenues: Rental depreciation 51,573 7,583 — 59,156 Rental expense 20,202 3,062 — 23,264 Rental other 12,143 2,083 — 14,226 83,918 12,728 — 96,646 New equipment sales 38,028 1,231 — 39,259 Used equipment sales 20,469 2,813 — 23,282 Parts sales 17,543 1,809 — 19,352 Services revenues 4,679 494 — 5,173 Other 2,305 249 — 2,554 Total cost of revenues 166,942 19,324 — 186,266 Gross profit: Equipment rentals 51,230 7,918 — 59,148 New equipment sales 4,466 222 — 4,688 Used equipment sales 9,053 1,678 — 10,731 Parts sales 6,087 781 — 6,868 Services revenues 9,382 1,102 — 10,484 Other 38 113 — 151 Gross profit 80,256 11,814 — 92,070 Selling, general and administrative expenses 59,223 8,638 — 67,861 Merger costs 118 — — 118 Equity in earnings of guarantor subsidiaries 771 — (771 ) — Gain on sales of property and equipment, net 2,497 397 — 2,894 Income from operations 24,183 3,573 (771 ) 26,985 Other income (expense): Interest expense (12,712 ) (2,860 ) — (15,572 ) Other, net 584 58 — 642 Total other expense, net (12,128 ) (2,802 ) — (14,930 ) Income before income taxes 12,055 771 (771 ) 12,055 Income tax expense 3,240 — — 3,240 Net income $ 8,815 $ 771 $ (771 ) $ 8,815 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended June 30, 2019 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 169,106 $ 23,196 $ — $ 192,302 New equipment sales 47,040 6,556 — 53,596 Used equipment sales 30,369 5,759 — 36,128 Parts sales 27,488 4,383 — 31,871 Services revenues 14,141 2,584 — 16,725 Other (291 ) 3,266 — 2,975 Total revenues 287,853 45,744 — 333,597 Cost of revenues: Rental depreciation 53,361 8,073 — 61,434 Rental expense 23,143 3,876 — 27,019 Rental other 17,847 — — 17,847 94,351 11,949 — 106,300 New equipment sales 41,179 5,885 — 47,064 Used equipment sales 19,622 3,699 — 23,321 Parts sales 20,220 3,070 — 23,290 Services revenues 4,558 801 — 5,359 Other 361 3,121 — 3,482 Total cost of revenues 180,291 28,525 — 208,816 Gross profit (loss): Equipment rentals 74,755 11,247 — 86,002 New equipment sales 5,861 671 — 6,532 Used equipment sales 10,747 2,060 — 12,807 Parts sales 7,268 1,313 — 8,581 Services revenues 9,583 1,783 — 11,366 Other (652 ) 145 — (507 ) Gross profit 107,562 17,219 — 124,781 Selling, general and administrative expenses 67,858 9,982 — 77,840 Merger costs 148 — — 148 Equity in earnings of guarantor subsidiaries 4,230 — (4,230 ) — Gain on sales of property and equipment, net 556 324 — 880 Income from operations 44,342 7,561 (4,230 ) 47,673 Other income (expense): Interest expense (13,886 ) (3,381 ) — (17,267 ) Other, net 439 50 — 489 Total other expense, net (13,447 ) (3,331 ) — (16,778 ) Income before income taxes 30,895 4,230 (4,230 ) 30,895 Income tax expense 8,281 — — 8,281 Net income $ 22,614 $ 4,230 $ (4,230 ) $ 22,614 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Six Months Ended June 30, 2020 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 286,995 $ 43,318 $ — $ 330,313 New equipment sales 71,498 3,322 — 74,820 Used equipment sales 56,452 8,779 — 65,231 Parts sales 49,511 6,478 — 55,989 Services revenues 28,243 4,236 — 32,479 Other 4,589 837 — 5,426 Total revenues 497,288 66,970 — 564,258 Cost of revenues: Rental depreciation 103,538 15,604 — 119,142 Rental expense 42,504 6,329 — 48,833 Rental other 26,236 4,795 — 31,031 172,278 26,728 — 199,006 New equipment sales 63,822 2,863 — 66,685 Used equipment sales 38,290 5,430 — 43,720 Parts sales 36,672 4,583 — 41,255 Services revenues 9,367 1,346 — 10,713 Other 4,678 648 — 5,326 Total cost of revenues 325,107 41,598 — 366,705 Gross profit (loss): Equipment rentals 114,717 16,590 — 131,307 New equipment sales 7,676 459 — 8,135 Used equipment sales 18,162 3,349 — 21,511 Parts sales 12,839 1,895 — 14,734 Services revenues 18,876 2,890 — 21,766 Other (89 ) 189 — 100 Gross profit 172,181 25,372 — 197,553 Selling, general and administrative expenses 128,752 18,733 — 147,485 Impairment of goodwill 61,994 — — 61,994 Merger costs 158 — — 158 Equity in earnings of guarantor subsidiaries 1,678 — (1,678 ) — Gain on sales of property and equipment, net 6,270 888 — 7,158 Income (loss) from operations (10,775 ) 7,527 (1,678 ) (4,926 ) Other income (expense): Interest expense (25,647 ) (5,955 ) — (31,602 ) Other, net 1,166 106 — 1,272 Total other expense, net (24,481 ) (5,849 ) — (30,330 ) Income (loss) before income taxes (35,256 ) 1,678 (1,678 ) (35,256 ) Income tax benefit (7,103 ) — — (7,103 ) Net income (loss) $ (28,153 ) $ 1,678 $ (1,678 ) $ (28,153 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Six Months Ended June 30, 2019 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 323,965 $ 44,466 $ — $ 368,431 New equipment sales 99,616 13,083 — 112,699 Used equipment sales 55,580 10,182 — 65,762 Parts sales 54,042 8,257 — 62,299 Services revenues 27,307 4,986 — 32,293 Other (224 ) 5,975 — 5,751 Total revenues 560,286 86,949 — 647,235 Cost of revenues: Rental depreciation 102,623 15,959 — 118,582 Rental expense 44,295 7,492 — 51,787 Rental other 34,122 — — 34,122 181,040 23,451 — 204,491 New equipment sales 87,639 11,524 — 99,163 Used equipment sales 35,833 6,500 — 42,333 Parts sales 39,812 5,767 — 45,579 Services revenues 8,841 1,522 — 10,363 Other 860 5,965 — 6,825 Total cost of revenues 354,025 54,729 — 408,754 Gross profit (loss): Equipment rentals 142,925 21,015 — 163,940 New equipment sales 11,977 1,559 — 13,536 Used equipment sales 19,747 3,682 — 23,429 Parts sales 14,230 2,490 — 16,720 Services revenues 18,466 3,464 — 21,930 Other (1,084 ) 10 — (1,074 ) Gross profit 206,261 32,220 — 238,481 Selling, general and administrative expenses 136,413 20,074 — 156,487 Merger costs 267 — — 267 Equity in earnings of guarantor subsidiaries 5,955 — (5,955 ) — Gain on sales of property and equipment, net 1,263 358 — 1,621 Income from operations 76,799 12,504 (5,955 ) 83,348 Other income (expense): Interest expense (27,448 ) (6,674 ) — (34,122 ) Other, net 896 125 — 1,021 Total other expense, net (26,552 ) (6,549 ) — (33,101 ) Income before income taxes 50,247 5,955 (5,955 ) 50,247 Income tax expense 13,390 — — 13,390 Net income $ 36,857 $ 5,955 $ (5,955 ) $ 36,857
Condensed Consolidating Statement of Cash Flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2020 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Cash flows from operating activities: Net income (loss) $ (28,153 ) $ 1,678 $ (1,678 ) $ (28,153 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization on property and equipment 11,934 2,835 — 14,769 Depreciation of rental equipment 103,538 15,604 — 119,142 Amortization of finance lease right-of-use assets — 81 — 81 Amortization of intangible assets 2,002 — — 2,002 Amortization of deferred financing costs 504 — — 504 Accretion of note discount, net of premium amortization 238 — — 238 Non-cash operating lease expense 5,695 65 — 5,760 Impairment of goodwill 61,994 — — 61,994 Provision for losses on accounts receivable 2,725 225 — 2,950 Provision for inventory obsolescence 12 — — 12 Change in deferred income taxes (7,211 ) — — (7,211 ) Stock-based compensation expense 2,656 — — 2,656 Gain from sales of property and equipment, net (6,270 ) (888 ) — (7,158 ) Gain from sales of rental equipment, net (17,912 ) (3,312 ) — (21,224 ) Equity in earnings of guarantor subsidiaries (1,678 ) — 1,678 — Changes in operating assets and liabilities: Receivables 35,176 7,588 — 42,764 Inventories (10,995 ) (1,402 ) — (12,397 ) Prepaid expenses and other assets (8,454 ) (86 ) — (8,540 ) Accounts payable 13,474 603 — 14,077 Manufacturer flooring plans payable (8,524 ) — — (8,524 ) Accrued expenses payable and other liabilities (12,203 ) (1,123 ) — (13,326 ) Deferred compensation payable 50 — — 50 Net cash provided by operating activities 138,598 21,868 — 160,466 Cash flows from investing activities: Purchases of property and equipment (11,666 ) (1,845 ) — (13,511 ) Purchases of rental equipment (57,228 ) 1,780 — (55,448 ) Proceeds from sales of property and equipment 8,978 1,412 — 10,390 Proceeds from sales of rental equipment 51,174 8,582 — 59,756 Investment in subsidiaries 31,673 — (31,673 ) — Net cash provided by investing activities 22,931 9,929 (31,673 ) 1,187 Cash flows from financing activities: Borrowings on senior secured credit facility 496,011 — — 496,011 Payments on senior secured credit facility (645,329 ) — — (645,329 ) Dividends paid (19,737 ) (4 ) — (19,741 ) Purchases of treasury stock (470 ) — — (470 ) Payments on finance lease obligations — (120 ) — (120 ) Capital contributions — (31,673 ) 31,673 — Net cash used in financing activities (169,525 ) (31,797 ) 31,673 (169,649 ) Net decrease in cash (7,996 ) — — (7,996 ) Cash, beginning of period 14,247 — — 14,247 Cash, end of period $ 6,251 $ — $ — $ 6,251 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2019 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Cash flows from operating activities: Net income $ 36,857 $ 5,955 $ (5,955 ) $ 36,857 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of property and equipment 11,993 1,634 — 13,627 Depreciation of rental equipment 102,623 15,959 — 118,582 Amortization of finance lease right-of-use assets — 81 — 81 Amortization of intangible assets 2,049 — — 2,049 Amortization of deferred financing costs 504 — — 504 Accretion of note discount, net of premium amortization 239 — — 239 Non-cash operating lease expense 5,206 67 — 5,273 Provision for losses on accounts receivable 2,197 283 — 2,480 Provision for inventory obsolescence 115 — — 115 Change in deferred income taxes 12,239 — — 12,239 Stock-based compensation expense 2,023 — — 2,023 Gain from sales of property and equipment, net (1,263 ) (358 ) — (1,621 ) Gain from sales of rental equipment, net (19,568 ) (3,671 ) — (23,239 ) Equity in earnings of guarantor subsidiaries (5,955 ) — 5,955 — Changes in operating assets and liabilities, net of acquisitions: Receivables 840 3,924 — 4,764 Inventories (49,636 ) (6,361 ) — (55,997 ) Prepaid expenses and other assets (2,887 ) (82 ) — (2,969 ) Accounts payable 16,782 (190 ) — 16,592 Manufacturer flooring plans payable 1,888 (488 ) — 1,400 Accrued expenses payable and other liabilities 723 1,175 — 1,898 Deferred compensation payable 55 — — 55 Net cash provided by operating activities 117,024 17,928 — 134,952 Cash flows from investing activities: Acquisition of businesses, net of cash acquired (106,746 ) — — (106,746 ) Purchases of property and equipment (15,723 ) (2,845 ) — (18,568 ) Purchases of rental equipment (153,724 ) (20,950 ) — (174,674 ) Proceeds from sales of property and equipment 1,777 396 — 2,173 Proceeds from sales of rental equipment 51,799 9,869 — 61,668 Investment in subsidiaries 4,337 — (4,337 ) — Net cash used in investing activities (218,280 ) (13,530 ) (4,337 ) (236,147 ) Cash flows from financing activities: Borrowings on senior secured credit facility 797,029 — — 797,029 Payments on senior secured credit facility (685,080 ) — — (685,080 ) Dividends paid (19,667 ) (3 ) — (19,670 ) Purchases of treasury stock (387 ) — — (387 ) Payments of deferred financing costs (559 ) — — (559 ) Payments of finance lease obligations (56 ) (58 ) — (114 ) Capital contributions — (4,337 ) 4,337 — Net cash provided by (used in) financing activities 91,280 (4,398 ) 4,337 91,219 Net decrease in cash (9,976 ) — — (9,976 ) Cash, beginning of period 16,677 — — 16,677 Cash, end of period 6,701 — — 6,701

Significant Accounting Polici_4

Significant Accounting Policies - Summary of Revenues by Type and by Applicable Accounting Standard (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Revenues:
Revenues	$ 278,336	$ 333,597	$ 310,364	$ 564,258	$ 647,235	$ 570,846
Topic 842
Revenues:
Revenues	146,987	181,744		312,122	348,617
Topic 606
Revenues:
Revenues	131,349	151,853		252,136	298,618
Rental Revenues [Member] | Owned Equipment Rentals [Member]
Revenues:
Revenues	135,707	167,317		289,635	320,941
Rental Revenues [Member] | Owned Equipment Rentals [Member] | Topic 842
Revenues:
Revenues	135,503	167,072		289,173	320,422
Rental Revenues [Member] | Owned Equipment Rentals [Member] | Topic 606
Revenues:
Revenues	204	245		462	519
Rental Revenues [Member] | Re Rent Revenues [Member]
Revenues:
Revenues	5,069	6,520		9,760	12,556
Rental Revenues [Member] | Re Rent Revenues [Member] | Topic 842
Revenues:
Revenues	5,069	6,520		9,760	12,556
Ancillary And Other Rental Revenues [Member]
Revenues:
Revenues	15,018	18,465		30,918	34,934
Ancillary And Other Rental Revenues [Member] | Topic 842
Revenues:
Revenues	6,415	8,152		13,189	15,639
Ancillary And Other Rental Revenues [Member] | Topic 606
Revenues:
Revenues	8,603	10,313		17,729	19,295
Ancillary And Other Rental Revenues [Member] | Delivery and Pick-up [Member]
Revenues:
Revenues	8,603	10,313		17,729	19,295
Ancillary And Other Rental Revenues [Member] | Delivery and Pick-up [Member] | Topic 606
Revenues:
Revenues	8,603	10,313		17,729	19,295
Ancillary And Other Rental Revenues [Member] | Other [Member]
Revenues:
Revenues	6,415	8,152		13,189	15,639
Ancillary And Other Rental Revenues [Member] | Other [Member] | Topic 842
Revenues:
Revenues	6,415	8,152		13,189	15,639
Total Equipment Rental Revenues [Member]
Revenues:
Revenues	155,794	192,302		330,313	368,431
Total Equipment Rental Revenues [Member] | Topic 842
Revenues:
Revenues	146,987	181,744		312,122	348,617
Total Equipment Rental Revenues [Member] | Topic 606
Revenues:
Revenues	8,807	10,558		18,191	19,814
New Equipment Sales [Member]
Revenues:
Revenues	43,947	53,596		74,820	112,699
New Equipment Sales [Member] | Topic 606
Revenues:
Revenues	43,947	53,596		74,820	112,699
Used Equipment Sales [Member]
Revenues:
Revenues	34,013	36,128		65,231	65,762
Used Equipment Sales [Member] | Topic 606
Revenues:
Revenues	34,013	36,128		65,231	65,762
Parts Sales [Member]
Revenues:
Revenues	26,220	31,871		55,989	62,299
Parts Sales [Member] | Topic 606
Revenues:
Revenues	26,220	31,871		55,989	62,299
Parts and Services [Member]
Revenues:
Revenues	15,657	16,725		32,479	32,293
Parts and Services [Member] | Topic 606
Revenues:
Revenues	15,657	16,725		32,479	32,293
Other [Member]
Revenues:
Revenues	2,705	2,975		5,426	5,751
Other [Member] | Topic 606
Revenues:
Revenues	$ 2,705	$ 2,975		$ 5,426	$ 5,751

Significant Accounting Polici_5

Significant Accounting Policies - Additional Information (Detail)	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2020USD ($)Customer	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jun. 30, 2019Customer	Jun. 30, 2020USD ($)CustomerSegment	Jun. 30, 2019Customer	Dec. 31, 2019USD ($)Customer	Dec. 31, 2018USD ($)
Summary Of Significant Accounting Policy [Line Items]
Customer accounted for more than 10% of revenue | Customer	0			0	0	0	0
Number of operating segments | Segment					6
Goodwill impairment					$ 61,994,000
Goodwill	$ 68,851,000		$ 131,442,000		68,851,000		$ 131,442,000	$ 105,843,000
New Equipment Sales [Member]
Summary Of Significant Accounting Policy [Line Items]
Goodwill impairment			10,700,000
Goodwill			0				0	10,434,000
Service Revenues [Member]
Summary Of Significant Accounting Policy [Line Items]
Goodwill impairment			1,500,000
Goodwill			0				0
Equipment Rental Component 2 [Member]
Summary Of Significant Accounting Policy [Line Items]
Goodwill impairment		$ 62,000,000
Goodwill			62,311,000				62,311,000	42,536,000
Equipment Rental Component 1 [Member]
Summary Of Significant Accounting Policy [Line Items]
Goodwill	48,976,000		49,215,000		48,976,000		49,215,000	34,297,000
Reporting units, percentage of fair value that exceeded respective carrying value		34.00%
Used Equipment Sales [Member]
Summary Of Significant Accounting Policy [Line Items]
Goodwill	8,953,000		8,961,000		8,953,000		8,961,000	8,461,000
Reporting units, percentage of fair value that exceeded respective carrying value		90.00%
Parts Sales [Member]
Summary Of Significant Accounting Policy [Line Items]
Goodwill	$ 10,922,000		$ 10,955,000		$ 10,922,000		$ 10,955,000	$ 8,910,000
Reporting units, percentage of fair value that exceeded respective carrying value		40.00%

Significant Accounting Polici_6

Significant Accounting Policies - Schedule of Changes in Carrying Amount of Goodwill (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Goodwill [Line Items]
Beginning balance	$ 131,442,000	$ 105,843,000
Increases (Decreases)	(61,994,000)	(12,184,000)
Ending balance	68,851,000	131,442,000
CEC and Rental Inc [Member]
Goodwill [Line Items]
Increases (Decreases)	(597,000)	37,783,000
Equipment Rental Component 1 [Member]
Goodwill [Line Items]
Beginning balance	49,215,000	34,297,000
Ending balance	48,976,000	49,215,000
Equipment Rental Component 1 [Member] | CEC and Rental Inc [Member]
Goodwill [Line Items]
Increases (Decreases)	(239,000)	14,918,000
Equipment Rental Component 2 [Member]
Goodwill [Line Items]
Beginning balance	62,311,000	42,536,000
Increases (Decreases)	(61,994,000)
Ending balance		62,311,000
Equipment Rental Component 2 [Member] | CEC and Rental Inc [Member]
Goodwill [Line Items]
Increases (Decreases)	(317,000)	19,775,000
New Equipment Sales [Member]
Goodwill [Line Items]
Beginning balance	0	10,434,000
Increases (Decreases)		(10,688,000)
Ending balance		0
New Equipment Sales [Member] | CEC and Rental Inc [Member]
Goodwill [Line Items]
Increases (Decreases)		254,000
Used Equipment Sales [Member]
Goodwill [Line Items]
Beginning balance	8,961,000	8,461,000
Ending balance	8,953,000	8,961,000
Used Equipment Sales [Member] | CEC and Rental Inc [Member]
Goodwill [Line Items]
Increases (Decreases)	(8,000)	500,000
Parts Sales [Member]
Goodwill [Line Items]
Beginning balance	10,955,000	8,910,000
Ending balance	10,922,000	10,955,000
Parts Sales [Member] | CEC and Rental Inc [Member]
Goodwill [Line Items]
Increases (Decreases)	$ (33,000)	2,045,000
Parts and Services [Member]
Goodwill [Line Items]
Beginning balance		1,205,000
Increases (Decreases)		(1,496,000)
Parts and Services [Member] | CEC and Rental Inc [Member]
Goodwill [Line Items]
Increases (Decreases)		$ 291,000

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) $ in Thousands	Feb. 01, 2019USD ($)Branch	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)
Business Acquisition [Line Items]
Acquisition costs		$ 118		$ 148	$ 158	$ 267
We-Rent-It [Member]
Business Acquisition [Line Items]
Business acquisition, completion date	Feb. 1, 2019
Number of branches located | Branch	6
Aggregate consideration paid to the owners	$ 107,900
Business combination decrease in consideration paid			$ 600
Percentage of goodwill deductible for income tax purposes	100.00%
Acquisition costs	$ 400

Acquisitions - Summary of Estim

Acquisitions - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Feb. 01, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 68,851	$ 131,442		$ 105,843
We-Rent-It [Member]
Business Acquisition [Line Items]
Cash			$ 1,745
Accounts receivable			5,119
Inventory			731
Prepaid expenses and other assets			544
Rental equipment			51,747
Property and equipment			3,207
Other assets			21
Intangible assets			8,700
Total identifiable assets acquired			71,814
Accounts payable			(115)
Accrued expenses payable and other liabilities			(991)
Total liabilities assumed			(1,106)
Net identifiable assets acquired			70,708
Goodwill			37,186
Net assets acquired			$ 107,894

Acquisitions - Summary of Est_2

Acquisitions - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) $ in Thousands	Feb. 01, 2019USD ($)ReportingUnit	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Goodwill		$ 68,851	$ 131,442	$ 105,843
We-Rent-It [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)	$ 8,700
Goodwill	$ 37,186
Number of goodwill reporting units | ReportingUnit	6
We-Rent-It [Member] | Rental Component 1 [Member]
Business Acquisition [Line Items]
Goodwill	$ 14,679
We-Rent-It [Member] | Rental Component 2 [Member]
Business Acquisition [Line Items]
Goodwill	19,458
We-Rent-It [Member] | New Equipment [Member]
Business Acquisition [Line Items]
Goodwill	254
We-Rent-It [Member] | Used Equipment [Member]
Business Acquisition [Line Items]
Goodwill	492
We-Rent-It [Member] | Parts [Member]
Business Acquisition [Line Items]
Goodwill	2,012
We-Rent-It [Member] | Service [Member]
Business Acquisition [Line Items]
Goodwill	291
Customer Relationships [Member] | We-Rent-It [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)	$ 8,500
Life (years)	10 years
Tradenames [Member] | We-Rent-It [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)	$ 200
Life (years)	1 year

Acquisitions - Unaudited Pro Fo

Acquisitions - Unaudited Pro Forma Consolidated Statements of Operations Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Business Acquisition [Line Items]
Total revenues	$ 278,336	$ 333,597	$ 310,364	$ 564,258	$ 647,235	$ 570,846
Pretax income	$ 12,055	$ 30,895	27,869	$ (35,256)	$ 50,247	40,937
Pro forma pretax income (loss)			27,869			40,937
Income tax expense (benefit)			7,098			10,688
Net income (loss)			$ 20,771			$ 30,249
Net income (loss) per share – basic			$ 0.58			$ 0.85
Net income (loss) per share – diluted			$ 0.58			$ 0.84
Pro forma adjustments to pretax income:
Total revenues			$ 320,004			$ 595,481
Pretax income			30,301			45,173
Pro forma adjustments to pretax income:
Impact of fair value mark-ups/useful life changes on depreciation			(1,976)			(2,975)
Intangible asset amortization			(313)			(710)
Interest expense			(1,476)			(3,312)
Elimination of historic interest expense			126			288
Pro forma pretax income (loss)			26,662			38,464
Income tax expense (benefit)			6,797			10,047
Net income (loss)			$ 19,865			$ 28,417
Net income (loss) per share – basic			$ 0.56			$ 0.80
Net income (loss) per share – diluted			$ 0.55			$ 0.79
We-Rent-It [Member]
Business Acquisition [Line Items]
Total revenues			$ 9,640			$ 17,227
Pretax income			2,432			3,216
Pro forma adjustments to pretax income:
Impact of fair value mark-ups/useful life changes on depreciation			(1,976)			(2,226)
Intangible asset amortization			(313)			(435)
Interest expense			(1,476)			(2,832)
Elimination of historic interest expense			126			206
Pro forma pretax income (loss)			(1,207)			(2,071)
Income tax expense (benefit)			(301)			(536)
Net income (loss)			$ (906)			$ (1,535)
Net income (loss) per share – basic			$ (0.03)			$ (0.04)
Net income (loss) per share – diluted			$ (0.03)			$ (0.04)
Rental Inc [Member]
Business Acquisition [Line Items]
Total revenues						$ 7,408
Pretax income						1,020
Pro forma adjustments to pretax income:
Impact of fair value mark-ups/useful life changes on depreciation						(749)
Intangible asset amortization						(275)
Interest expense						(480)
Elimination of historic interest expense						82
Pro forma pretax income (loss)						(402)
Income tax expense (benefit)						(105)
Net income (loss)						$ (297)
Net income (loss) per share – basic						$ (0.01)
Net income (loss) per share – diluted						$ (0.01)

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Estimated Incremental Borrowing Rates for Similar Types of Borrowing Arrangements (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Level 3 [Member] | Carrying Amount [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable with interest computed at 3.50% (Level 3)	$ 16,677	$ 25,201
Level 3 [Member] | Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable with interest computed at 3.50% (Level 3)	15,042	21,615
Level 2 [Member] | Carrying Amount [Member] | Senior Unsecured Notes Due 2025 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes due 2025 with interest computed at 5.625% (Level 2)	945,958	945,566
Level 2 [Member] | Fair Value [Member] | Senior Unsecured Notes Due 2025 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes due 2025 with interest computed at 5.625% (Level 2)	$ 959,500	$ 995,125

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Estimated Incremental Borrowing Rates for Similar Types of Borrowing Arrangements (Parenthetical) (Detail)	3 Months Ended	6 Months Ended
	Dec. 31, 2019	Jun. 30, 2020
Level 3 [Member] | Carrying Amount [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable, interest rate	5.25%	3.50%
Level 3 [Member] | Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable, interest rate	5.25%	3.50%
Level 2 [Member] | Carrying Amount [Member] | Senior Unsecured Notes Due 2025 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes, interest rate	5.625%	5.625%
Senior unsecured notes, due year	2025	2025
Level 2 [Member] | Fair Value [Member] | Senior Unsecured Notes Due 2025 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes, interest rate	5.625%	5.625%
Senior unsecured notes, due year	2025	2025

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Transfer of financial assets	$ 0	$ 0	$ 0	$ 0
Transfer of financial liabilities	$ 0	$ 0	$ 0	$ 0
Fair Value [Member] | Level 1 [Member] | Senior Unsecured Notes Due 2025 [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Senior unsecured notes, due year			2025		2025

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Activity in Stockholders' Equity (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 261,945	$ 307,519	$ 261,999	$ 256,803	$ 307,519	$ 256,803
Beginning Balances, shares		39,921,838			39,921,838
Stock-based compensation	1,004	$ 1,652	835	1,188
Cash dividends declared on common stock ($0.275 per share)	(9,896)	(9,789)	(9,857)	(9,793)
Issuance of common stock, net of restricted stock forfeitures		1		1
Repurchase of shares of restricted common stock		(470)		(387)
Cumulative effect adjustment pursuant to the adoption of ASC 842				(56)
Net income (loss)	8,815	(36,968)	22,614	14,243	$ (28,153)	36,857
Ending Balances	$ 261,868	261,945	275,591	261,999	$ 261,868	275,591
Ending Balances, shares	40,013,557				40,013,557
Common Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 399	$ 398	$ 397	$ 396	$ 398	$ 396
Beginning Balances, shares	40,020,289	39,921,838	39,808,072	39,748,562	39,921,838	39,748,562
Issuance of common stock, net of restricted stock forfeitures		$ 1		$ 1
Issuance of common stock, net of restricted stock forfeitures, shares		98,451		59,510
Restricted stock forfeitures, shares	(6,732)		(2,666)
Ending Balances	$ 399	$ 399	$ 397	$ 397	$ 399	$ 397
Ending Balances, shares	40,013,557	40,020,289	39,805,406	39,808,072	40,013,557	39,805,406
Additional Paid-in Capital [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 237,496	$ 235,844	$ 232,362	$ 231,174	$ 235,844	$ 231,174
Stock-based compensation	1,004	1,652	835	1,188
Ending Balances	238,500	237,496	233,197	232,362	238,500	233,197
Treasury Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	(65,253)	(64,783)	(63,486)	(63,099)	(64,783)	(63,099)
Repurchase of shares of restricted common stock		(470)		(387)
Ending Balances	(65,253)	(65,253)	(63,486)	(63,486)	(65,253)	(63,486)
Retained Earnings [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	89,303	136,060	92,726	88,332	136,060	88,332
Cash dividends declared on common stock ($0.275 per share)	(9,896)	(9,789)	(9,857)	(9,793)
Cumulative effect adjustment pursuant to the adoption of ASC 842				(56)
Net income (loss)	8,815	(36,968)	22,614	14,243
Ending Balances	$ 88,222	$ 89,303	$ 105,483	$ 92,726	$ 88,222	$ 105,483

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Activity in Stockholders' Equity (Parenthetical) (Detail) - $ / shares	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Schedule of Capitalization, Equity [Line Items]
Cash dividends declared on common stock, per share	$ 0.275		$ 0.275		$ 0.55	$ 0.55
Repurchase of restricted common stock, shares		26,392		14,272
Retained Earnings [Member]
Schedule of Capitalization, Equity [Line Items]
Cash dividends declared on common stock, per share	$ 0.275	$ 0.275	$ 0.275	$ 0.275

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense related to non-vested stock | $	$ 4.2
Expected non-vested stock recognized over a weighted-average period	1 year 8 months 12 days
2016 Stock-Based Incentive Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-Based incentive compensation plan | shares	1,553,695

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Non-Vested Stock Activity (Detail)	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Non-vested stock, beginning balance, Number of Shares | shares	377,740
Granted, Number of Shares | shares	23,608
Vested, Number of Shares | shares	(73,564)
Forfeited, Number of Shares | shares	(8,608)
Non-vested stock, ending balance, Number of Shares | shares	319,176
Non-vested stock, beginning balance, Weighted Average Grant Date Fair Value | $ / shares	$ 29.26
Granted, Weighted Average Grant Date Fair Value | $ / shares	27.11
Vested, Weighted Average Grant Date Fair Value | $ / shares	24.03
Forfeited, Weighted Average Grant Date Fair Value | $ / shares	31.15
Non-vested stock, ending balance, Weighted Average Grant Date Fair Value | $ / shares	$ 30.26

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Compensation Expense Related to Non-Vested Stock (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Compensation expense	$ 1,004	$ 835	$ 2,656	$ 2,023

Income (Loss) per Share - Addit

Income (Loss) per Share - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Restricted common shares, percentage	0.60%	0.60%	0.60%	0.60%

Income (Loss) per Share - Summa

Income (Loss) per Share - Summary of Computation of Basic and Diluted Net Income (Loss) Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Basic net income (loss) per share:
Net income (loss)	$ 8,815	$ (36,968)	$ 22,614	$ 14,243	$ (28,153)	$ 36,857
Weighted average number of common shares outstanding	36,031		35,826		35,998	35,807
Net income (loss) per share of common stock – basic	$ 0.24		$ 0.63		$ (0.78)	$ 1.03
Diluted net income (loss) per share:
Net income (loss)	$ 8,815	$ (36,968)	$ 22,614	$ 14,243	$ (28,153)	$ 36,857
Weighted average number of common shares outstanding	36,031		35,826		35,998	35,807
Effect of dilutive securities:
Weighted average number of common shares outstanding – diluted	36,107		36,016		35,998	35,994
Net income (loss) per share of common stock – diluted	$ 0.24		$ 0.63		$ (0.78)	$ 1.02
Non-vested restricted stock [Member]
Effect of dilutive securities:
Effect of dilutive stock options and non-vested restricted stock	76		190			187
Common shares excluded from the denominator as anti-dilutive:
Common shares excluded from the denominator as anti-dilutive						19

Senior Secured Credit Facility

Senior Secured Credit Facility - Additional Information (Detail) - USD ($)	Jul. 28, 2020	Jun. 30, 2020
Wells Fargo Capital Finance, LLC [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Existing credit facility with its lenders		$ 750,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Outstanding letters of credit		67,600,000
Available borrowings under our senior secured credit facility		$ 674,700,000
Revolving Credit Facility [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Outstanding letters of credit	$ 7,700,000
Available borrowings under our senior secured credit facility	$ 699,900,000

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, 2020	Jun. 30, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Senior unsecured notes, beginning balance	$ 945,566
Amortization of deferred financing costs	504	$ 504
Senior unsecured notes, ending balance	945,958		$ 945,566
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Senior unsecured notes, beginning balance	945,566	$ 944,780	944,780
Accretion of discount	770		1,539
Amortization of note premium	(532)		(1,062)
Amortization of deferred financing costs	154		309
Senior unsecured notes, ending balance	$ 945,958		$ 945,566

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Net operating lease right-of-use assets	$ 165,529	$ 156,570
Net finance lease right-of-use assets	284	365
Operating lease liabilities	168,771	159,265
Finance lease liabilities	$ 430	$ 550
Weighted average remaining lease term for operating leases	10 years
Weighted average remaining lease term for finance leases	1 year 9 months 18 days
Weighted average discount rate for operating leases	6.60%
Weighted average discount rate for finance leases	5.90%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Income Tax Disclosure [Abstract]
Elimination of taxable income limitations to fully utilize net operating loss carryforwards to offset taxable income percentage	80.00%
Reduction of future estimates income tax payments	$ 4.9
Federal tax refund claim	1.5
Deferral of payroll taxes	$ 6

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020Customer	Jun. 30, 2019Customer	Jun. 30, 2020CustomerSegment	Jun. 30, 2019Customer	Dec. 31, 2019Customer
Segment Reporting [Abstract]
Number of reportable segment | Segment			5
Sales to international customers	0.20%	0.10%	0.30%	0.20%
Customer accounted for more than 10% of revenue | Customer	0	0	0	0	0

Segment Information - Schedule

Segment Information - Schedule of Information about Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2019
Segment Revenues:
Revenues	$ 278,336	$ 333,597	$ 310,364	$ 564,258	$ 647,235	$ 570,846
Segment Gross Profit:
Total gross profit	92,070	124,781		197,553	238,481
Segment identified assets:
Total assets	1,779,243			1,779,243			$ 1,974,610
Equipment Rentals [Member]
Segment Revenues:
Revenues	155,794	192,302		330,313	368,431
Segment Gross Profit:
Total gross profit	59,148	86,002		131,307	163,940
New Equipment Sales [Member]
Segment Revenues:
Revenues	43,947	53,596		74,820	112,699
Segment Gross Profit:
Total gross profit	4,688	6,532		8,135	13,536
Used Equipment Sales [Member]
Segment Revenues:
Revenues	34,013	36,128		65,231	65,762
Segment Gross Profit:
Total gross profit	10,731	12,807		21,511	23,429
Parts Sales [Member]
Segment Revenues:
Revenues	26,220	31,871		55,989	62,299
Segment Gross Profit:
Total gross profit	6,868	8,581		14,734	16,720
Services Revenues [Member]
Segment Revenues:
Revenues	15,657	16,725		32,479	32,293
Segment Gross Profit:
Total gross profit	10,484	11,366		21,766	21,930
Operating Segments [Member]
Segment Revenues:
Revenues	275,631	330,622		558,832	641,484
Segment Gross Profit:
Total gross profit	91,919	125,288		197,453	239,555
Segment identified assets:
Total assets	1,213,310			1,213,310			1,303,151
Operating Segments [Member] | Equipment Rentals [Member]
Segment Revenues:
Revenues	155,794	192,302		330,313	368,431
Segment Gross Profit:
Total gross profit	59,148	86,002		131,307	163,940
Segment identified assets:
Total assets	1,133,857			1,133,857			1,217,673
Operating Segments [Member] | New Equipment Sales [Member]
Segment Revenues:
Revenues	43,947	53,596		74,820	112,699
Segment Gross Profit:
Total gross profit	4,688	6,532		8,135	13,536
Operating Segments [Member] | Used Equipment Sales [Member]
Segment Revenues:
Revenues	34,013	36,128		65,231	65,762
Segment Gross Profit:
Total gross profit	10,731	12,807		21,511	23,429
Segment identified assets:
Total assets	62,201			62,201			67,542
Operating Segments [Member] | Parts Sales [Member]
Segment Revenues:
Revenues	26,220	31,871		55,989	62,299
Segment Gross Profit:
Total gross profit	6,868	8,581		14,734	16,720
Operating Segments [Member] | Services Revenues [Member]
Segment Revenues:
Revenues	15,657	16,725		32,479	32,293
Segment Gross Profit:
Total gross profit	10,484	11,366		21,766	21,930
Operating Segments [Member] | Parts and Services [Member]
Segment identified assets:
Total assets	17,252			17,252			17,936
Non-Segmented [Member]
Segment Revenues:
Revenues	2,705	2,975		5,426	5,751
Segment Gross Profit:
Total gross profit	151	$ (507)		100	$ (1,074)
Segment identified assets:
Total assets	$ 565,933			$ 565,933			$ 671,459

Condensed Consolidating Finan_3

Condensed Consolidating Financial Information of Guarantor Subsidiaries - Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Assets:
Cash	$ 6,251		$ 14,247
Receivables, net	146,490		192,204
Inventories, net	79,453		85,478
Prepaid expenses and other assets	18,784		10,262
Rental equipment, net	1,133,857		1,217,673
Property and equipment, net	126,291		130,564
Operating lease right-of-use assets, net	165,529		156,570
Finance lease right-of-use assets, net	284		365
Deferred financing costs, net	2,507		2,857
Intangible assets, net	30,946		32,948
Goodwill	68,851		131,442			$ 105,843
Total assets	1,779,243		1,974,610
Liabilities and Stockholders’ Equity:
Amounts due on senior secured credit facility	67,561		216,879
Accounts payable	72,333		58,853
Manufacturer flooring plans payable	16,677		25,201
Accrued expenses payable and other liabilities	70,467		78,382
Dividends payable	115		171
Senior unsecured notes, net	945,958		945,566
Operating lease right-of-use liabilities, net	168,771		159,265
Finance lease right-of-use liabilities, net	430		550
Deferred income taxes	172,915		180,126
Deferred compensation payable	2,148		2,098
Total liabilities	1,517,375		1,667,091
Stockholders’ equity	261,868	$ 261,945	307,519	$ 275,591	$ 261,999	$ 256,803
Total liabilities and stockholders’ equity	1,779,243		1,974,610
Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Assets:
Cash	6,251		14,247
Receivables, net	126,359		164,260
Inventories, net	75,550		81,945
Prepaid expenses and other assets	18,565		10,129
Rental equipment, net	999,960		1,062,154
Property and equipment, net	108,670		111,429
Operating lease right-of-use assets, net	144,870		137,625
Deferred financing costs, net	2,507		2,857
Investment in guarantor subsidiaries	187,894		235,749
Intangible assets, net	30,946		32,948
Goodwill	57,185		101,916
Total assets	1,758,757		1,955,259
Liabilities and Stockholders’ Equity:
Amounts due on senior secured credit facility	67,561		216,879
Accounts payable	69,102		56,225
Manufacturer flooring plans payable	16,677		25,201
Accrued expenses payable and other liabilities	74,854		81,646
Dividends payable	179		231
Senior unsecured notes, net	945,958		945,566
Operating lease right-of-use liabilities, net	147,495		139,768
Deferred income taxes	172,915		180,126
Deferred compensation payable	2,148		2,098
Total liabilities	1,496,889		1,647,740
Stockholders’ equity	261,868		307,519
Total liabilities and stockholders’ equity	1,758,757		1,955,259
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Assets:
Receivables, net	20,131		27,944
Inventories, net	3,903		3,533
Prepaid expenses and other assets	219		133
Rental equipment, net	133,897		155,519
Property and equipment, net	17,621		19,135
Operating lease right-of-use assets, net	20,659		18,945
Finance lease right-of-use assets, net	284		365
Goodwill	11,666		29,526
Total assets	208,380		255,100
Liabilities and Stockholders’ Equity:
Accounts payable	3,231		2,628
Accrued expenses payable and other liabilities	(4,387)		(3,264)
Dividends payable	(64)		(60)
Operating lease right-of-use liabilities, net	21,276		19,497
Finance lease right-of-use liabilities, net	430		550
Total liabilities	20,486		19,351
Stockholders’ equity	187,894		235,749
Total liabilities and stockholders’ equity	208,380		255,100
Elimination [Member]
Assets:
Investment in guarantor subsidiaries	(187,894)		(235,749)
Total assets	(187,894)		(235,749)
Liabilities and Stockholders’ Equity:
Stockholders’ equity	(187,894)		(235,749)
Total liabilities and stockholders’ equity	$ (187,894)		$ (235,749)

Condensed Consolidating Finan_4

Condensed Consolidating Financial Information of Guarantor Subsidiaries - Condensed Consolidating Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended					6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Revenues:
Revenues	$ 278,336		$ 333,597		$ 310,364	$ 564,258	$ 647,235	$ 570,846
Cost of revenues:
Cost of revenues	186,266		208,816			366,705	408,754
Gross profit (loss):
Gross profit	92,070		124,781			197,553	238,481
Selling, general and administrative expenses	67,861		77,840			147,485	156,487
Impairment of goodwill						61,994
Merger costs	118		148			158	267
Gain on sales of property and equipment, net	2,894		880			7,158	1,621
Income (loss) from operations	26,985		47,673			(4,926)	83,348
Other income (expense):
Interest expense	(15,572)		(17,267)			(31,602)	(34,122)
Other, net	642		489			1,272	1,021
Total other expense, net	(14,930)		(16,778)			(30,330)	(33,101)
Income (loss) before provision (benefit) for income taxes	12,055		30,895		$ 27,869	(35,256)	50,247	$ 40,937
Income tax expense (benefit)	3,240		8,281			(7,103)	13,390
Net income (loss)	8,815	$ (36,968)	22,614	$ 14,243		(28,153)	36,857
Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Revenues:
Revenues	247,198		287,853			497,288	560,286
Cost of revenues:
Cost of revenues	166,942		180,291			325,107	354,025
Gross profit (loss):
Gross profit	80,256		107,562			172,181	206,261
Selling, general and administrative expenses	59,223		67,858			128,752	136,413
Impairment of goodwill						61,994
Merger costs	118		148			158	267
Equity in earnings of guarantor subsidiaries	771		4,230			1,678	5,955
Gain on sales of property and equipment, net	2,497		556			6,270	1,263
Income (loss) from operations	24,183		44,342			(10,775)	76,799
Other income (expense):
Interest expense	(12,712)		(13,886)			(25,647)	(27,448)
Other, net	584		439			1,166	896
Total other expense, net	(12,128)		(13,447)			(24,481)	(26,552)
Income (loss) before provision (benefit) for income taxes	12,055		30,895			(35,256)	50,247
Income tax expense (benefit)	3,240		8,281			(7,103)	13,390
Net income (loss)	8,815		22,614			(28,153)	36,857
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenues:
Revenues	31,138		45,744			66,970	86,949
Cost of revenues:
Cost of revenues	19,324		28,525			41,598	54,729
Gross profit (loss):
Gross profit	11,814		17,219			25,372	32,220
Selling, general and administrative expenses	8,638		9,982			18,733	20,074
Gain on sales of property and equipment, net	397		324			888	358
Income (loss) from operations	3,573		7,561			7,527	12,504
Other income (expense):
Interest expense	(2,860)		(3,381)			(5,955)	(6,674)
Other, net	58		50			106	125
Total other expense, net	(2,802)		(3,331)			(5,849)	(6,549)
Income (loss) before provision (benefit) for income taxes	771		4,230			1,678	5,955
Net income (loss)	771		4,230			1,678	5,955
Elimination [Member]
Gross profit (loss):
Equity in earnings of guarantor subsidiaries	(771)		(4,230)			(1,678)	(5,955)
Income (loss) from operations	(771)		(4,230)			(1,678)	(5,955)
Other income (expense):
Income (loss) before provision (benefit) for income taxes	(771)		(4,230)			(1,678)	(5,955)
Net income (loss)	(771)		(4,230)			(1,678)	(5,955)
Equipment Rentals [Member]
Revenues:
Revenues	155,794		192,302			330,313	368,431
Cost of revenues:
Cost of revenues	96,646		106,300			199,006	204,491
Gross profit (loss):
Gross profit	59,148		86,002			131,307	163,940
Equipment Rentals [Member] | Rentals Other [Member]
Cost of revenues:
Cost of revenues	14,226		17,847			31,031	34,122
Equipment Rentals [Member] | Rental Depreciation [Member]
Cost of revenues:
Cost of revenues	59,156		61,434			119,142	118,582
Equipment Rentals [Member] | Rental Expense [Member]
Cost of revenues:
Cost of revenues	23,264		27,019			48,833	51,787
Equipment Rentals [Member] | Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Revenues:
Revenues	135,148		169,106			286,995	323,965
Cost of revenues:
Cost of revenues	83,918		94,351			172,278	181,040
Gross profit (loss):
Gross profit	51,230		74,755			114,717	142,925
Equipment Rentals [Member] | Reportable Legal Entities [Member] | H & E Equipment Services [Member] | Rentals Other [Member]
Cost of revenues:
Cost of revenues	12,143		17,847			26,236	34,122
Equipment Rentals [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenues:
Revenues	20,646		23,196			43,318	44,466
Cost of revenues:
Cost of revenues	12,728		11,949			26,728	23,451
Gross profit (loss):
Gross profit	7,918		11,247			16,590	21,015
Equipment Rentals [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Rentals Other [Member]
Cost of revenues:
Cost of revenues	2,083					4,795
Equipment Rentals [Member] | Reportable Legal Entities [Member] | Rental Depreciation [Member] | H & E Equipment Services [Member]
Cost of revenues:
Cost of revenues	51,573		53,361			103,538	102,623
Equipment Rentals [Member] | Reportable Legal Entities [Member] | Rental Depreciation [Member] | Guarantor Subsidiaries [Member]
Cost of revenues:
Cost of revenues	7,583		8,073			15,604	15,959
Equipment Rentals [Member] | Reportable Legal Entities [Member] | Rental Expense [Member] | H & E Equipment Services [Member]
Cost of revenues:
Cost of revenues	20,202		23,143			42,504	44,295
Equipment Rentals [Member] | Reportable Legal Entities [Member] | Rental Expense [Member] | Guarantor Subsidiaries [Member]
Cost of revenues:
Cost of revenues	3,062		3,876			6,329	7,492
New Equipment Sales [Member]
Revenues:
Revenues	43,947		53,596			74,820	112,699
Cost of revenues:
Cost of revenues	39,259		47,064			66,685	99,163
Gross profit (loss):
Gross profit	4,688		6,532			8,135	13,536
New Equipment Sales [Member] | Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Revenues:
Revenues	42,494		47,040			71,498	99,616
Cost of revenues:
Cost of revenues	38,028		41,179			63,822	87,639
Gross profit (loss):
Gross profit	4,466		5,861			7,676	11,977
New Equipment Sales [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenues:
Revenues	1,453		6,556			3,322	13,083
Cost of revenues:
Cost of revenues	1,231		5,885			2,863	11,524
Gross profit (loss):
Gross profit	222		671			459	1,559
Used Equipment Sales [Member]
Revenues:
Revenues	34,013		36,128			65,231	65,762
Cost of revenues:
Cost of revenues	23,282		23,321			43,720	42,333
Gross profit (loss):
Gross profit	10,731		12,807			21,511	23,429
Used Equipment Sales [Member] | Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Revenues:
Revenues	29,522		30,369			56,452	55,580
Cost of revenues:
Cost of revenues	20,469		19,622			38,290	35,833
Gross profit (loss):
Gross profit	9,053		10,747			18,162	19,747
Used Equipment Sales [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenues:
Revenues	4,491		5,759			8,779	10,182
Cost of revenues:
Cost of revenues	2,813		3,699			5,430	6,500
Gross profit (loss):
Gross profit	1,678		2,060			3,349	3,682
Parts Sales [Member]
Revenues:
Revenues	26,220		31,871			55,989	62,299
Cost of revenues:
Cost of revenues	19,352		23,290			41,255	45,579
Gross profit (loss):
Gross profit	6,868		8,581			14,734	16,720
Parts Sales [Member] | Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Revenues:
Revenues	23,630		27,488			49,511	54,042
Cost of revenues:
Cost of revenues	17,543		20,220			36,672	39,812
Gross profit (loss):
Gross profit	6,087		7,268			12,839	14,230
Parts Sales [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenues:
Revenues	2,590		4,383			6,478	8,257
Cost of revenues:
Cost of revenues	1,809		3,070			4,583	5,767
Gross profit (loss):
Gross profit	781		1,313			1,895	2,490
Services Revenues [Member]
Revenues:
Revenues	15,657		16,725			32,479	32,293
Cost of revenues:
Cost of revenues	5,173		5,359			10,713	10,363
Gross profit (loss):
Gross profit	10,484		11,366			21,766	21,930
Services Revenues [Member] | Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Revenues:
Revenues	14,061		14,141			28,243	27,307
Cost of revenues:
Cost of revenues	4,679		4,558			9,367	8,841
Gross profit (loss):
Gross profit	9,382		9,583			18,876	18,466
Services Revenues [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenues:
Revenues	1,596		2,584			4,236	4,986
Cost of revenues:
Cost of revenues	494		801			1,346	1,522
Gross profit (loss):
Gross profit	1,102		1,783			2,890	3,464
Other [Member]
Revenues:
Revenues	2,705		2,975			5,426	5,751
Other [Member] | Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Revenues:
Revenues	2,343		(291)			4,589	(224)
Other [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenues:
Revenues	362		3,266			837	5,975
Other [Member]
Cost of revenues:
Cost of revenues	2,554		3,482			5,326	6,825
Other [Member] | Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Cost of revenues:
Cost of revenues	2,305		361			4,678	860
Other [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Cost of revenues:
Cost of revenues	249		3,121			648	5,965
Other Gross Profit
Gross profit (loss):
Gross profit	151		(507)			100	(1,074)
Other Gross Profit | Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Gross profit (loss):
Gross profit	38		(652)			(89)	(1,084)
Other Gross Profit | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Gross profit (loss):
Gross profit	$ 113		$ 145			$ 189	$ 10

Condensed Consolidating Finan_5

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, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Cash flows from operating activities:
Net income (loss)			$ (28,153)	$ 36,857
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization on property and equipment			14,769	13,627
Depreciation of rental equipment			119,142	118,582
Amortization of finance lease right-of-use assets			81	81
Amortization of intangible assets			2,002	2,049
Amortization of deferred financing costs			504	504
Accretion of note discount, net of premium amortization			238	239
Non-cash operating lease expense			5,760	5,273
Impairment of goodwill			61,994
Provision for losses on accounts receivable			2,950	2,480
Provision for inventory obsolescence			12	115
Change in deferred income taxes			(7,211)	12,239
Stock-based compensation expense			2,656	2,023
Gain from sales of property and equipment, net	$ (2,894)	$ (880)	(7,158)	(1,621)
Gain from sales of rental equipment, net			(21,224)	(23,239)
Changes in operating assets and liabilities, net of acquisitions:
Receivables			42,764	4,764
Inventories			(12,397)	(55,997)
Prepaid expenses and other assets			(8,540)	(2,969)
Accounts payable			14,077	16,592
Manufacturer flooring plans payable			(8,524)	1,400
Accrued expenses payable and other liabilities			(13,326)	1,898
Deferred compensation payable			50	55
Net cash provided by operating activities			160,466	134,952
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired				(106,746)
Purchases of property and equipment			(13,511)	(18,568)
Purchases of rental equipment			(55,448)	(174,674)
Proceeds from sales of property and equipment			10,390	2,173
Proceeds from sales of rental equipment			59,756	61,668
Net cash provided by (used in) investing activities			1,187	(236,147)
Cash flows from financing activities:
Borrowings on senior secured credit facility			496,011	797,029
Payments on senior secured credit facility			(645,329)	(685,080)
Dividends paid			(19,741)	(19,670)
Purchases of treasury stock			(470)	(387)
Payments of deferred financing costs				(559)
Payments of finance lease obligations			(120)	(114)
Net cash provided by (used in) financing activities			(169,649)	91,219
Net decrease in cash			(7,996)	(9,976)
Cash, beginning of period			14,247	16,677	$ 16,677
Cash, end of period	6,251	6,701	6,251	6,701	14,247
Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Cash flows from operating activities:
Net income (loss)			(28,153)	36,857
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization on property and equipment			11,934	11,993
Depreciation of rental equipment			103,538	102,623
Amortization of intangible assets			2,002	2,049
Amortization of deferred financing costs			504	504
Accretion of note discount, net of premium amortization			238	239
Non-cash operating lease expense			5,695	5,206
Impairment of goodwill			61,994
Provision for losses on accounts receivable			2,725	2,197
Provision for inventory obsolescence			12	115
Change in deferred income taxes			(7,211)	12,239
Stock-based compensation expense			2,656	2,023
Gain from sales of property and equipment, net	(2,497)	(556)	(6,270)	(1,263)
Gain from sales of rental equipment, net			(17,912)	(19,568)
Equity in earnings of guarantor subsidiaries	(771)	(4,230)	(1,678)	(5,955)
Changes in operating assets and liabilities, net of acquisitions:
Receivables			35,176	840
Inventories			(10,995)	(49,636)
Prepaid expenses and other assets			(8,454)	(2,887)
Accounts payable			13,474	16,782
Manufacturer flooring plans payable			(8,524)	1,888
Accrued expenses payable and other liabilities			(12,203)	723
Deferred compensation payable			50	55
Net cash provided by operating activities			138,598	117,024
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired				(106,746)
Purchases of property and equipment			(11,666)	(15,723)
Purchases of rental equipment			(57,228)	(153,724)
Proceeds from sales of property and equipment			8,978	1,777
Proceeds from sales of rental equipment			51,174	51,799
Investment in subsidiaries			31,673	4,337
Net cash provided by (used in) investing activities			22,931	(218,280)
Cash flows from financing activities:
Borrowings on senior secured credit facility			496,011	797,029
Payments on senior secured credit facility			(645,329)	(685,080)
Dividends paid			(19,737)	(19,667)
Purchases of treasury stock			(470)	(387)
Payments of deferred financing costs				(559)
Payments of finance lease obligations				(56)
Net cash provided by (used in) financing activities			(169,525)	91,280
Net decrease in cash			(7,996)	(9,976)
Cash, beginning of period			14,247	16,677	16,677
Cash, end of period	6,251	6,701	6,251	6,701	$ 14,247
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income (loss)			1,678	5,955
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization on property and equipment			2,835	1,634
Depreciation of rental equipment			15,604	15,959
Amortization of finance lease right-of-use assets			81	81
Non-cash operating lease expense			65	67
Provision for losses on accounts receivable			225	283
Gain from sales of property and equipment, net	(397)	(324)	(888)	(358)
Gain from sales of rental equipment, net			(3,312)	(3,671)
Changes in operating assets and liabilities, net of acquisitions:
Receivables			7,588	3,924
Inventories			(1,402)	(6,361)
Prepaid expenses and other assets			(86)	(82)
Accounts payable			603	(190)
Manufacturer flooring plans payable				(488)
Accrued expenses payable and other liabilities			(1,123)	1,175
Net cash provided by operating activities			21,868	17,928
Cash flows from investing activities:
Purchases of property and equipment			(1,845)	(2,845)
Purchases of rental equipment			1,780	(20,950)
Proceeds from sales of property and equipment			1,412	396
Proceeds from sales of rental equipment			8,582	9,869
Net cash provided by (used in) investing activities			9,929	(13,530)
Cash flows from financing activities:
Dividends paid			(4)	(3)
Payments of finance lease obligations			(120)	(58)
Capital contributions			(31,673)	(4,337)
Net cash provided by (used in) financing activities			(31,797)	(4,398)
Elimination [Member]
Cash flows from operating activities:
Net income (loss)			(1,678)	(5,955)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in earnings of guarantor subsidiaries	$ 771	$ 4,230	1,678	5,955
Cash flows from investing activities:
Investment in subsidiaries			(31,673)	(4,337)
Net cash provided by (used in) investing activities			(31,673)	(4,337)
Cash flows from financing activities:
Capital contributions			31,673	4,337
Net cash provided by (used in) financing activities			$ 31,673	$ 4,337