H&E Equipment Services (HEES) 10-Q 28 Oct 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 21, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Trading Symbol	HEES
Entity Registrant Name	H&E Equipment Services, Inc.
Entity Central Index Key	0001339605
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity 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		36,094,654
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	Sep. 30, 2020	Dec. 31, 2019
ASSETS
Cash	$ 11,997	$ 14,247
Receivables, net of allowance for doubtful accounts of $4,963 and $5,236, respectively	167,595	192,204
Inventories, net of reserves for obsolescence of $318 and $331, respectively	72,871	85,478
Prepaid expenses and other assets	11,597	10,262
Rental equipment, net of accumulated depreciation of $705,944 and $676,376, respectively	1,078,403	1,217,673
Property and equipment, net of accumulated depreciation and amortization of $160,637 and $156,782, respectively	122,173	130,564
Operating lease right-of-use assets, net of accumulated amortization of $20,497 and $11,197, respectively	165,479	156,570
Finance lease right-of-use assets, net of accumulated amortization of $2,173 and $2,051, respectively	244	365
Deferred financing costs, net of accumulated amortization of $14,944 and $14,419, respectively	2,332	2,857
Intangible assets, net of accumulated amortization of $9,747 and $6,952, respectively	29,953	32,948
Goodwill	68,851	131,442
Total assets	1,731,495	1,974,610
Liabilities:
Amounts due on senior secured credit facility	17,986	216,879
Accounts payable	69,805	58,853
Manufacturer flooring plans payable	11,646	25,201
Accrued expenses payable and other liabilities	73,764	78,382
Dividends payable	135	171
Senior unsecured notes, net of unaccreted discount of $2,334 and $2,691 and deferred financing costs of $1,511 and $1,743, respectively	946,155	945,566
Operating lease right-of-use liabilities	168,952	159,265
Finance lease right-of-use liabilities	368	550
Deferred income taxes	178,752	180,126
Deferred compensation payable	2,173	2,098
Total liabilities	1,469,736	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; 40,245,706 and 39,921,838 shares issued at September 30, 2020 and December 31, 2019, respectively, and 36,096,814 and 35,848,089 shares outstanding at September 30, 2020 and December 31, 2019, respectively	401	398
Additional paid-in capital	239,139	235,844
Treasury stock at cost, 4,148,892 and 4,073,749 shares of common stock held at September 30, 2020 and December 31, 2019, respectively	(66,159)	(64,783)
Retained earnings	88,378	136,060
Total stockholders’ equity	261,759	307,519
Total liabilities and stockholders’ equity	$ 1,731,495	$ 1,974,610

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts receivables	$ 4,963	$ 5,236
Reserves for obsolescence inventories	318	331
Accumulated depreciation, rental equipment	705,944	676,376
Accumulated depreciation and amortization, property and equipment	160,637	156,782
Accumulated amortization, operating lease right-of-use assets	20,497	11,197
Accumulated amortization, financing lease right-of-use assets	2,173	2,051
Accumulated amortization, deferred financing costs	14,944	14,419
Accumulated amortization, intangible assets	9,747	6,952
Unaccreted discount, net	2,334	2,691
Deferred financing costs	$ 1,511	$ 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	40,245,706	39,921,838
Common stock, shares outstanding	36,096,814	35,848,089
Treasury stock, shares	4,148,892	4,073,749

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Revenues	$ 289,260	$ 352,997	$ 853,518	$ 1,000,232
Cost of revenues:
Cost of revenues	190,193	220,869	556,898	629,623
Gross profit	99,067	132,128	296,620	370,609
Selling, general and administrative expenses	70,040	77,296	217,525	233,783
Impairment of goodwill			61,994
Merger costs	150	47	308	314
Gain on sales of property and equipment, net	2,102	718	9,260	2,339
Income from operations	30,979	55,503	26,053	138,851
Other income (expense):
Interest expense	(14,887)	(17,331)	(46,489)	(51,453)
Other, net	990	588	2,262	1,609
Total other expense, net	(13,897)	(16,743)	(44,227)	(49,844)
Income (loss) before provision (benefit) for income taxes	17,082	38,760	(18,174)	89,007
Provision (benefit) for income taxes	6,979	10,329	(124)	23,719
Net income (loss)	$ 10,103	$ 28,431	$ (18,050)	$ 65,288
Net income (loss) per common share:
Basic	$ 0.28	$ 0.79	$ (0.50)	$ 1.82
Diluted	$ 0.28	$ 0.79	$ (0.50)	$ 1.81
Weighted average common shares outstanding:
Basic	36,110	35,893	36,035	35,835
Diluted	36,249	36,046	36,035	36,012
Dividends declared per common share outstanding	$ 0.275	$ 0.275	$ 0.825	$ 0.825
Equipment Rentals [Member]
Revenues:
Revenues	$ 165,849	$ 204,132	$ 496,162	$ 572,563
Cost of revenues:
Cost of revenues	100,527	109,574	299,533	314,065
Gross profit	65,322	94,558	196,629	258,498
Equipment Rentals [Member] | Rentals Other [Member]
Cost of revenues:
Cost of revenues	16,816	18,620	47,847	52,742
Equipment Rentals [Member] | Rental Depreciation [Member]
Cost of revenues:
Cost of revenues	58,083	63,065	177,225	181,647
Equipment Rentals [Member] | Rental Expense [Member]
Cost of revenues:
Cost of revenues	25,628	27,889	74,461	79,676
New Equipment Sales [Member]
Revenues:
Revenues	37,248	65,010	112,068	177,709
Cost of revenues:
Cost of revenues	33,124	57,475	99,809	156,638
Gross profit	4,124	7,535	12,259	21,071
Used Equipment Sales [Member]
Revenues:
Revenues	40,000	31,180	105,231	96,942
Cost of revenues:
Cost of revenues	27,872	21,409	71,592	63,742
Gross profit	12,128	9,771	33,639	33,200
Parts Sales [Member]
Revenues:
Revenues	27,853	31,499	83,842	93,798
Cost of revenues:
Cost of revenues	20,925	23,171	62,180	68,750
Gross profit	6,928	8,328	21,662	25,048
Services Revenues [Member]
Revenues:
Revenues	15,637	18,105	48,116	50,398
Cost of revenues:
Cost of revenues	5,198	5,898	15,911	16,261
Gross profit	10,439	12,207	32,205	34,137
Other [Member]
Cost of revenues:
Cost of revenues	2,547	3,342	7,873	10,167
Equipment Rentals [Member]
Revenues:
Revenues	165,849	204,132	496,162	572,563
New Equipment Sales [Member]
Revenues:
Revenues	37,248	65,010	112,068	177,709
Used Equipment Sales [Member]
Revenues:
Revenues	40,000	31,180	105,231	96,942
Parts Sales [Member]
Revenues:
Revenues	27,853	31,499	83,842	93,798
Services Revenues [Member]
Revenues:
Revenues	15,637	18,105	48,116	50,398
Other [Member]
Revenues:
Revenues	$ 2,673	$ 3,071	$ 8,099	$ 8,822

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ (18,050)	$ 65,288
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization of property and equipment	22,288	20,841
Depreciation of rental equipment	177,225	181,647
Amortization of finance lease right-of-use assets	121	122
Amortization of intangible assets	2,996	3,091
Amortization of deferred financing costs	755	757
Accretion of note discount, net of premium amortization	358	357
Non-cash operating lease expense	10,619	8,021
Impairment of goodwill	61,994
Provision for losses on accounts receivable	3,340	4,059
Provision for inventory obsolescence	95	152
Change in deferred income taxes	(1,374)	22,127
Stock-based compensation expense	3,295	3,060
Gain from sales of property and equipment, net	(9,260)	(2,339)
Gain from sales of rental equipment, net	(33,102)	(32,780)
Changes in operating assets and liabilities, net of acquisitions:
Receivables	21,269	(2,045)
Inventories	(7,712)	(39,631)
Prepaid expenses and other assets	(1,355)	(3,098)
Accounts payable	11,549	(16,871)
Manufacturer flooring plans payable	(13,555)	2,259
Accrued expenses payable and other liabilities	(14,478)	(7,492)
Deferred compensation payable	75	82
Net cash provided by operating activities	217,093	207,607
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired		(106,746)
Purchases of property and equipment	(17,283)	(31,451)
Purchases of rental equipment	(81,426)	(269,150)
Proceeds from sales of property and equipment	12,688	3,085
Proceeds from sales of rental equipment	96,797	89,105
Net cash provided by (used in) investing activities	10,776	(315,157)
Cash flows from financing activities:
Borrowings on senior secured credit facility	729,810	1,174,120
Payments on senior secured credit facility	(928,703)	(1,040,750)
Dividends paid	(29,668)	(29,530)
Purchases of treasury stock	(1,376)	(1,640)
Payments of deferred financing costs		(559)
Payments of finance lease obligations	(182)	(172)
Net cash provided by (used in) financing activities	(230,119)	101,469
Net decrease in cash	(2,250)	(6,081)
Cash, beginning of period	14,247	16,677
Cash, end of period	11,997	10,596
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	20,224	38,240
Purchases of property and equipment included in accrued expenses payable and other liabilities	(42)	(27)
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	18,208	9,074
Cash paid during the period for:
Interest	59,304	63,312
Income taxes paid (refunds received), net	$ (354)	$ 2,658

Organization and Nature of Oper

Organization and Nature of Operations	9 Months Ended
	Sep. 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 nine month periods ended September 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 experiencing increases in infection rates relative to the number of positive 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, throughout the third quarter, and into the early fourth quarter. Even with these recent sequential improvements, our total revenues for the nine month period ended September 30, 2020 were % lower than those of the same nine month period last year. 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	9 Months Ended
	Sep. 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 nine month periods ended September 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 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, 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. 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. Under Topic 842, Leases, we account for equipment rental contracts as operating leases. We recognize revenue from equipment rentals in the period earned, regardless of the timing of billing to customers. A rental contract includes rates for daily, weekly or monthly use, and rental revenues are earned on a daily basis as rental contracts remain outstanding. Because the rental contracts can extend across multiple reporting periods, we record unbilled rental revenues and deferred rental revenues at the end of reporting periods so rental revenues earned is appropriately stated for the periods presented. For additional information related to our revenue recognition policies pursuant to Topic 606 and Topic 842, please see Significant Accounting Policies in note 2 to our Form 10-K for the year ended December 31, 2019. In the table below, revenues as presented in our condensed consolidated statements of operations for the three and nine month periods ended September 30, 2020 and 2019 are summarized by type and by the applicable accounting standard. Three Month Period Ended September 30, 2020 2019 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 142,708 $ 168 $ 142,876 $ 177,287 $ 305 $ 177,592 Re-rent revenue 6,546 — 6,546 7,205 — 7,205 Ancillary and other rental revenues: Delivery and pick-up — 9,161 9,161 — 10,977 10,977 Other 7,266 — 7,266 8,358 — 8,358 Total ancillary rental revenues 7,266 9,161 16,427 8,358 10,977 19,335 Total equipment rental revenues 156,520 9,329 165,849 192,850 11,282 204,132 New equipment sales — 37,248 37,248 — 65,010 65,010 Used equipment sales — 40,000 40,000 — 31,180 31,180 Parts sales — 27,853 27,853 — 31,499 31,499 Service revenues — 15,637 15,637 — 18,105 18,105 Other — 2,673 2,673 — 3,071 3,071 Total revenues $ 156,520 $ 132,740 $ 289,260 $ 192,850 $ 160,147 $ 352,997 Nine Month Period Ended September 30, 2020 2019 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 431,881 $ 630 $ 432,511 $ 497,709 $ 824 $ 498,533 Re-rent revenue 16,306 — 16,306 19,761 — 19,761 Ancillary and other rental revenues: Delivery and pick-up — 26,890 26,890 — 30,272 30,272 Other 20,455 — 20,455 23,997 — 23,997 Total ancillary rental revenues 20,455 26,890 47,345 23,997 30,272 54,269 Total equipment rental revenues 468,642 27,520 496,162 541,467 31,096 572,563 New equipment sales — 112,068 112,068 — 177,709 177,709 Used equipment sales — 105,231 105,231 — 96,942 96,942 Parts sales — 83,842 83,842 — 93,798 93,798 Service revenues — 48,116 48,116 — 50,398 50,398 Other — 8,099 8,099 — 8,822 8,822 Total revenues $ 468,642 $ 384,876 $ 853,518 $ 541,467 $ 458,765 $ 1,000,232 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 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 nine month periods ended September 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 of the March 31, 2020 interim impairment testing date 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 does not affect our cash flows, liquidity or borrowing capacity under the senior credit facility (the “Credit Facility”), and the charge is excluded from our financial results in evaluating our financial covenant under the Credit Facility. The changes in the carrying amount of goodwill for our reporting units for the periods ended September 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 September 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 during the first quarter of 2020 from the final closing settlement of the Cobra Equipment Rentals, LLC 2019 acquisition. (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”). The guidance removes the following exceptions: 1) exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items, 2) exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment, 3) exception to the ability not to recognize a deferred tax liability for a foreign subsidiary when a foreign equity method investment becomes a subsidiary and 4) exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. Additionally, the guidance simplifies the accounting for income taxes by: 1) requiring that an entity recognize a franchise tax (or similar tax) that is partially based on income as an income-based tax and account for any incremental amount incurred as a non-income-based tax, 2) requiring that an entity evaluate when a step up in the tax basis of goodwill should be considered part of the business combination in which the book goodwill was originally recognized and when it should be considered a separate transaction, 3) specifying that an entity is not required to allocate the consolidated amount of current and deferred tax expense to a legal entity that is not subject to tax in its separate financial statements (although the entity may elect to do so (on an entity-by-entity basis) for a legal entity that is both not subject to tax and disregarded by the taxing authority), 4) requiring that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date and 5) making minor improvements for income tax accounting related to employee stock ownership plans and investments in qualified affordable housing projects accounted for using the equity method. 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 (“ASU 2020-04”), 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. Our exposure related to the expected cessation of LIBOR is limited to the interest expense we incur on our Credit Facility . The potential impact from the cessation of LIBOR as a reference rate, as well as the applicability of ASU 2020-04, is not currently estimable . 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 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 sheets 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 for periods ending after January 4, 2021, but earlier compliance 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	9 Months Ended
	Sep. 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. 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 and is reflected in the amounts presented in the table below $’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 nine month periods ended September 30, 2020 and 2019 and included herein, includes We-Rent-It for the period of February 1, 2019 through September 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 table s 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 period s ended September 30, 2018. The tables below present unaudited pr o forma consolidated statements of operations information for the three and nine month period s ended September 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 September 30, 2018 H&E(1) We-Rent-It Total Total revenues $ 322,141 $ 9,809 $ 331,950 Pretax income 28,971 2,406 31,377 Pro forma adjustments to pretax income: Impact of fair value mark-ups/useful life changes on depreciation (2) — (1,113 ) (1,113 ) Intangible asset amortization (3) — (353 ) (353 ) Interest expense (4) — (1,416 ) (1,416 ) Elimination of historic interest expense (5) — 154 154 Pro forma pretax income (loss) 28,971 (322 ) 28,649 Income tax expense (benefit) 7,657 (83 ) 7,574 Net income (loss) $ 21,314 $ (239 ) $ 21,075 Net income (loss) per share – basic (6) $ 0.60 $ (0.01 ) $ 0.59 Net income (loss) per share – diluted (6) $ 0.59 $ (0.01 ) $ 0.59 (amounts in thousands, except per share data) Nine Month Period Ended September 30, 2018 H&E(1) Rental Inc.(7) We-Rent-It Total Total revenues $ 892,987 $ 7,408 $ 27,036 $ 927,431 Pretax income 69,908 1,020 5,622 76,550 Pro forma adjustments to pretax income: Impact of fair value mark-ups/useful life changes on depreciation (2) — (749 ) (3,339 ) (4,088 ) Intangible asset amortization (3) — (250 ) (788 ) (1,038 ) Interest expense (4) — (480 ) (4,248 ) (4,728 ) Elimination of historic interest expense (5) — 82 360 442 Pro forma pretax income (loss) 69,908 (377 ) (2,393 ) 67,138 Income tax expense (benefit) 18,345 (100 ) (620 ) 17,625 Net income (loss) $ 51,563 $ (277 ) $ (1,773 ) $ 49,513 Net income (loss) per share – basic (6) $ 1.45 $ (0.01 ) $ (0.05 ) $ 1.39 Net income (loss) per share – diluted (6) $ 1.44 $ (0.01 ) $ (0.05 ) $ 1.38 (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 September 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	9 Months Ended
	Sep. 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 September 30, 2020 and December 31, 2019 are presented in the table below (amounts in thousands). September 30, 2020 Carrying Amount Fair Value Manufacturer flooring plans payable with interest computed at 3.50% (Level 3) $ 11,646 $ 10,504 Senior unsecured notes due 2025 with interest computed at 5.625% (Level 2) 946,155 990,375 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 September 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 nine month periods ended September 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 Credit Facility. The discount rate as of September 30, 2020 and December 31, 2019 is disclosed in the above table.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Stockholders' Equity	(5) Stockholders’ Equity The following table summarizes the quarterly activity in Stockholders’ Equity for the periods ended September 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 Stock-based compensation — — 639 — — 639 Cash dividends declared on common stock ($0.275 per share) — — — — (9,947 ) (9,947 ) Issuance of common stock, net of restricted stock forfeitures 232,149 2 — — — 2 Repurchase of 48,751 shares of restricted common stock — — — (906 ) — (906 ) Net income — — — — 10,103 10,103 Balances at September 30, 2020 40,245,706 $ 401 $ 239,139 $ (66,159 ) $ 88,378 $ 261,759 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 — — 1,037 — — 1,037 Cash dividends declared on common stock ($0.275 per share) — — — — (9,889 ) (9,889 ) Issuance of common stock, net of restricted stock forfeitures 119,152 1 — — — 1 Repurchase of 42,922 shares of restricted common stock — — — (1,253 ) — (1,253 ) Net income — — — — 28,431 28,431 Balances at September 30, 2019 39,924,558 $ 398 $ 234,234 $ (64,739 ) $ 124,025 $ 293,918

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 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 nine month period ended September 30, 2020: Number of Shares Weighted Average Grant Date Fair Non-vested stock at December 31, 2019 377,740 $ 29.26 Granted 364,981 $ 18.21 Vested (200,655 ) $ 25.74 Forfeited (11,212 ) $ 29.86 Non-vested stock at September 30, 2020 530,854 $ 22.98 As of September 30, 2020, we had unrecognized compensation expense of approximately $6.1 million related to non-vested stock that we expect to be recognized over a weighted-average period of approximately 2.2 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 nine month periods ended September 30, 2020 and 2019 (amounts in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Compensation expense $ 639 $ 1,037 $ 3,295 $ 3,060

Income (Loss) per Share

Income (Loss) per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Income (Loss) per Share	(7) Income (loss) per Share Income (loss) per common share for the three and nine month periods ended September 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 0.9% and 0.8% of total outstanding shares for the three and nine month periods ended September 30, 2020 and 2019, respectively, 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 nine month periods ended September 30, 2020 and 2019 (amounts in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Basic net income (loss) per share: Net income (loss) $ 10,103 $ 28,431 $ (18,050 ) $ 65,288 Weighted average number of common shares outstanding 36,110 35,893 36,035 35,835 Net income (loss) per share of common stock – basic $ 0.28 $ 0.79 $ (0.50 ) $ 1.82 Diluted net income (loss) per share: Net income (loss) $ 10,103 $ 28,431 $ (18,050 ) $ 65,288 Weighted average number of common shares outstanding 36,110 35,893 36,035 35,835 Effect of dilutive securities: Effect of dilutive non-vested restricted stock 139 153 — 177 Weighted average number of common shares outstanding – diluted 36,249 36,046 36,035 36,012 Net income (loss) per share of common stock – diluted $ 0.28 $ 0.79 $ (0.50 ) $ 1.81 Common shares excluded from the denominator as anti-dilutive: Non-vested restricted stock 190 90 189 42

Senior Secured Credit Facility

Senior Secured Credit Facility	9 Months Ended
	Sep. 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. 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 September 30, 2020, we were in compliance with our financial covenants under the Amended and Restated Credit Agreement. At September 30, 2020, we had $18.0 million of borrowings outstanding under the Credit Facility and could borrow up to approximately $724.3 million and remain in compliance with the debt covenants under the Credit Facility. At October 21, 2020, we had $742.3 million of available borrowings under our Credit Facility, net of a $7.7 million outstanding letter of credit.

Senior Unsecured Notes

Senior Unsecured Notes	9 Months Ended
	Sep. 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 September 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 September 30, 2020 1,155 Amortization of note premium through September 30, 2020 (797 ) Amortization of deferred financing costs through September 30, 2020 231 Balance at September 30, 2020 $ 946,155

Leases

Leases	9 Months Ended
	Sep. 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 September 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 $0.2 million. Our operating lease liabilities at September 30, 2020 were $169.0 million and finance lease liabilities were $0.4 million. The weighted average remaining lease term for operating leases was approximately 9.8 years and the weighted average remaining lease term for finance leases was approximately 1.5 years. The weighted average discount rate for operating and finance leases was approximately 6.6% and 5.9%, respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 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 nine month period ended September 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, with respect to the elimination of the 80% of taxable income limitation on net operating loss carryforwards that may allow corporate entities to fully utilize net operating loss carryforwards to offset taxable income in 2018, 2019 or 2020, we expect to realize a total reduction of approximately $5.4 million of cash taxes paid in 2020. 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 $6.7 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	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Segment Revenues: Equipment rentals $ 165,849 $ 204,132 $ 496,162 $ 572,563 New equipment sales 37,248 65,010 112,068 177,709 Used equipment sales 40,000 31,180 105,231 96,942 Parts sales 27,853 31,499 83,842 93,798 Services revenues 15,637 18,105 48,116 50,398 Total segmented revenues 286,587 349,926 845,419 991,410 Non-segmented revenues 2,673 3,071 8,099 8,822 Total revenues $ 289,260 $ 352,997 $ 853,518 $ 1,000,232 Segment Gross Profit: Equipment rentals $ 65,322 $ 94,558 $ 196,629 $ 258,498 New equipment sales 4,124 7,535 12,259 21,071 Used equipment sales 12,128 9,771 33,639 33,200 Parts sales 6,928 8,328 21,662 25,048 Services revenues 10,439 12,207 32,205 34,137 Total segmented gross profit 98,941 132,399 296,394 371,954 Non-segmented gross profit (loss) 126 (271 ) 226 (1,345 ) Total gross profit $ 99,067 $ 132,128 $ 296,620 $ 370,609 Balances at September 30, December 31, 2020 2019 Segment identified assets: Equipment sales $ 56,462 $ 67,542 Equipment rentals 1,078,403 1,217,673 Parts and services 16,409 17,936 Total segment identified assets 1,151,274 1,303,151 Non-segment identified assets 580,221 671,459 Total assets $ 1,731,495 $ 1,974,610 The Company operates primarily in the United States and our sales to international customers for the three month periods ended September 30, 2020 and 2019 were 0.2% and 0.1% of total revenues, respectively, and 0.3% of total revenues for each of the nine month periods ended September 30, 2020 and 2019. 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	9 Months Ended
	Sep. 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 all of its subsidiaries; 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 September 30, 2020 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Assets: Cash $ 11,997 $ — $ — $ 11,997 Receivables, net 146,152 21,443 — 167,595 Inventories, net 69,883 2,988 — 72,871 Prepaid expenses and other assets 11,424 173 — 11,597 Rental equipment, net 943,612 134,791 — 1,078,403 Property and equipment, net 104,671 17,502 — 122,173 Operating lease right-of-use assets, net 144,687 20,792 — 165,479 Finance lease right-of-use assets, net — 244 — 244 Deferred financing costs, net 2,332 — — 2,332 Investment in guarantor subsidiaries 188,438 — (188,438 ) — Intangible assets, net 29,953 — — 29,953 Goodwill 57,185 11,666 — 68,851 Total assets $ 1,710,334 $ 209,599 $ (188,438 ) $ 1,731,495 Liabilities and Stockholders’ Equity: Amounts due on senior secured credit facility 17,986 $ — $ — $ 17,986 Accounts payable 66,458 3,347 — 69,805 Manufacturer flooring plans payable 11,646 — — 11,646 Accrued expenses payable and other liabilities 77,710 (3,946 ) — 73,764 Dividends payable 200 (65 ) — 135 Senior unsecured notes, net 946,155 — — 946,155 Operating lease right-of-use liabilities 147,495 21,457 — 168,952 Finance lease right-of-use liabilities — 368 — 368 Deferred income taxes 178,752 — — 178,752 Deferred compensation payable 2,173 — — 2,173 Total liabilities 1,448,575 21,161 — 1,469,736 Stockholders’ equity 261,759 188,438 (188,438 ) 261,759 Total liabilities and stockholders’ equity $ 1,710,334 $ 209,599 $ (188,438 ) $ 1,731,495 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 September 30, 2020 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 142,046 $ 23,803 $ — $ 165,849 New equipment sales 36,315 933 — 37,248 Used equipment sales 35,465 4,535 — 40,000 Parts sales 25,336 2,517 — 27,853 Services revenues 14,186 1,451 — 15,637 Other 2,356 317 — 2,673 Total revenues 255,704 33,556 — 289,260 Cost of revenues: Rental depreciation 50,333 7,750 — 58,083 Rental expense 22,229 3,399 — 25,628 Rental other 14,141 2,675 — 16,816 86,703 13,824 — 100,527 New equipment sales 32,362 762 — 33,124 Used equipment sales 24,952 2,920 — 27,872 Parts sales 19,164 1,761 — 20,925 Services revenues 4,752 446 — 5,198 Other 2,331 216 — 2,547 Total cost of revenues 170,264 19,929 — 190,193 Gross profit: Equipment rentals 55,343 9,979 — 65,322 New equipment sales 3,953 171 — 4,124 Used equipment sales 10,513 1,615 — 12,128 Parts sales 6,172 756 — 6,928 Services revenues 9,434 1,005 — 10,439 Other 25 101 — 126 Gross profit 85,440 13,627 — 99,067 Selling, general and administrative expenses 61,059 8,981 — 70,040 Merger costs 150 — — 150 Equity in earnings of guarantor subsidiaries 2,226 — (2,226 ) — Gain on sales of property and equipment, net 1,852 250 — 2,102 Income from operations 28,309 4,896 (2,226 ) 30,979 Other income (expense): Interest expense (12,174 ) (2,713 ) — (14,887 ) Other, net 947 43 — 990 Total other expense, net (11,227 ) (2,670 ) — (13,897 ) Income before income taxes 17,082 2,226 (2,226 ) 17,082 Income tax expense 6,979 — — 6,979 Net income $ 10,103 $ 2,226 $ (2,226 ) $ 10,103 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended September 30, 2019 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 176,338 $ 27,794 $ — $ 204,132 New equipment sales 60,584 4,426 — 65,010 Used equipment sales 25,850 5,330 — 31,180 Parts sales 27,284 4,215 — 31,499 Services revenues 15,614 2,491 — 18,105 Other 2,590 481 — 3,071 Total revenues 308,260 44,737 — 352,997 Cost of revenues: Rental depreciation 54,757 8,308 — 63,065 Rental expense 23,947 3,942 — 27,889 Rental other 15,505 3,115 — 18,620 94,209 15,365 — 109,574 New equipment sales 53,542 3,933 — 57,475 Used equipment sales 17,958 3,451 — 21,409 Parts sales 20,150 3,021 — 23,171 Services revenues 5,131 767 — 5,898 Other 2,977 365 — 3,342 Total cost of revenues 193,967 26,902 — 220,869 Gross profit (loss): Equipment rentals 82,129 12,429 — 94,558 New equipment sales 7,042 493 — 7,535 Used equipment sales 7,892 1,879 — 9,771 Parts sales 7,134 1,194 — 8,328 Services revenues 10,483 1,724 — 12,207 Other (387 ) 116 — (271 ) Gross profit 114,293 17,835 — 132,128 Selling, general and administrative expenses 67,372 9,924 — 77,296 Merger costs 47 — — 47 Equity in earnings of guarantor subsidiaries 4,701 — (4,701 ) — Gain on sales of property and equipment, net 686 32 — 718 Income from operations 52,261 7,943 (4,701 ) 55,503 Other income (expense): Interest expense (14,013 ) (3,318 ) — (17,331 ) Other, net 512 76 — 588 Total other expense, net (13,501 ) (3,242 ) — (16,743 ) Income before income taxes 38,760 4,701 (4,701 ) 38,760 Income tax expense 10,329 — — 10,329 Net income $ 28,431 $ 4,701 $ (4,701 ) $ 28,431 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Nine Months Ended September 30, 2020 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 429,040 $ 67,122 $ — $ 496,162 New equipment sales 107,813 4,255 — 112,068 Used equipment sales 91,918 13,313 — 105,231 Parts sales 74,847 8,995 — 83,842 Services revenues 42,429 5,687 — 48,116 Other 6,944 1,155 — 8,099 Total revenues 752,991 100,527 — 853,518 Cost of revenues: Rental depreciation 153,870 23,355 — 177,225 Rental expense 64,733 9,728 — 74,461 Rental other 40,376 7,471 — 47,847 258,979 40,554 — 299,533 New equipment sales 96,184 3,625 — 99,809 Used equipment sales 63,241 8,351 — 71,592 Parts sales 55,836 6,344 — 62,180 Services revenues 14,119 1,792 — 15,911 Other 7,011 862 — 7,873 Total cost of revenues 495,370 61,528 — 556,898 Gross profit (loss): Equipment rentals 170,061 26,568 — 196,629 New equipment sales 11,629 630 — 12,259 Used equipment sales 28,677 4,962 — 33,639 Parts sales 19,011 2,651 — 21,662 Services revenues 28,310 3,895 — 32,205 Other (67 ) 293 — 226 Gross profit 257,621 38,999 — 296,620 Selling, general and administrative expenses 189,811 27,714 — 217,525 Impairment of goodwill 61,994 — — 61,994 Merger costs 308 — — 308 Equity in earnings of guarantor subsidiaries 3,904 — (3,904 ) — Gain on sales of property and equipment, net 8,122 1,138 — 9,260 Income from operations 17,534 12,423 (3,904 ) 26,053 Other income (expense): Interest expense (37,821 ) (8,668 ) — (46,489 ) Other, net 2,113 149 — 2,262 Total other expense, net (35,708 ) (8,519 ) — (44,227 ) Income (loss) before income taxes (18,174 ) 3,904 (3,904 ) (18,174 ) Income tax benefit (124 ) — — (124 ) Net income (loss) $ (18,050 ) $ 3,904 $ (3,904 ) $ (18,050 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Nine Months Ended September 30, 2019 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 495,246 $ 77,317 $ — $ 572,563 New equipment sales 160,200 17,509 — 177,709 Used equipment sales 81,430 15,512 — 96,942 Parts sales 81,326 12,472 — 93,798 Services revenues 42,922 7,476 — 50,398 Other 7,422 1,400 — 8,822 Total revenues 868,546 131,686 — 1,000,232 Cost of revenues: Rental depreciation 157,380 24,267 — 181,647 Rental expense 68,242 11,434 — 79,676 Rental other 44,500 8,242 — 52,742 270,122 43,943 — 314,065 New equipment sales 141,181 15,457 — 156,638 Used equipment sales 53,791 9,951 — 63,742 Parts sales 59,962 8,788 — 68,750 Services revenues 13,971 2,290 — 16,261 Other 8,963 1,204 — 10,167 Total cost of revenues 547,990 81,633 — 629,623 Gross profit (loss): Equipment rentals 225,124 33,374 — 258,498 New equipment sales 19,019 2,052 — 21,071 Used equipment sales 27,639 5,561 — 33,200 Parts sales 21,364 3,684 — 25,048 Services revenues 28,951 5,186 — 34,137 Other (1,541 ) 196 — (1,345 ) Gross profit 320,556 50,053 — 370,609 Selling, general and administrative expenses 203,785 29,998 — 233,783 Merger costs 314 — — 314 Equity in earnings of guarantor subsidiaries 10,656 — (10,656 ) — Gain on sales of property and equipment, net 1,948 391 — 2,339 Income from operations 129,061 20,446 (10,656 ) 138,851 Other income (expense): Interest expense (41,461 ) (9,992 ) — (51,453 ) Other, net 1,407 202 — 1,609 Total other expense, net (40,054 ) (9,790 ) — (49,844 ) Income before income taxes 89,007 10,656 (10,656 ) 89,007 Income tax expense 23,719 — — 23,719 Net income $ 65,288 $ 10,656 $ (10,656 ) $ 65,288 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended September 30, 2020 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Cash flows from operating activities: Net income (loss) $ (18,050 ) $ 3,904 $ (3,904 ) $ (18,050 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization on property and equipment 18,672 3,616 — 22,288 Depreciation of rental equipment 153,870 23,355 — 177,225 Amortization of finance lease right-of-use assets — 121 — 121 Amortization of intangible assets 2,996 — — 2,996 Amortization of deferred financing costs 755 — — 755 Accretion of note discount, net of premium amortization 358 — — 358 Non-cash operating lease expense 8,495 2,124 — 10,619 Impairment of goodwill 61,994 — — 61,994 Provision for losses on accounts receivable 3,143 197 — 3,340 Provision for inventory obsolescence 95 — — 95 Change in deferred income taxes (1,374 ) — — (1,374 ) Stock-based compensation expense 3,295 — — 3,295 Gain from sales of property and equipment, net (8,122 ) (1,138 ) — (9,260 ) Gain from sales of rental equipment, net (28,175 ) (4,927 ) — (33,102 ) Equity in earnings of guarantor subsidiaries (3,904 ) — 3,904 — Changes in operating assets and liabilities: Receivables 14,965 6,304 — 21,269 Inventories (7,115 ) (597 ) — (7,712 ) Prepaid expenses and other assets (1,315 ) (40 ) — (1,355 ) Accounts payable 10,830 719 — 11,549 Manufacturer flooring plans payable (13,555 ) — — (13,555 ) Accrued expenses payable and other liabilities (11,785 ) (2,693 ) — (14,478 ) Deferred compensation payable 75 — — 75 Net cash provided by operating activities 186,148 30,945 — 217,093 Cash flows from investing activities: Purchases of property and equipment (14,771 ) (2,512 ) — (17,283 ) Purchases of rental equipment (71,756 ) (9,670 ) — (81,426 ) Proceeds from sales of property and equipment 11,021 1,667 — 12,688 Proceeds from sales of rental equipment 83,685 13,112 — 96,797 Investment in subsidiaries 33,355 — (33,355 ) — Net cash provided by investing activities 41,534 2,597 (33,355 ) 10,776 Cash flows from financing activities: Borrowings on senior secured credit facility 729,810 — — 729,810 Payments on senior secured credit facility (928,703 ) — — (928,703 ) Dividends paid (29,663 ) (5 ) — (29,668 ) Purchases of treasury stock (1,376 ) — — (1,376 ) Payments on finance lease obligations — (182 ) — (182 ) Capital contributions — (33,355 ) 33,355 — Net cash used in financing activities (229,932 ) (33,542 ) 33,355 (230,119 ) Net decrease in cash (2,250 ) — — (2,250 ) Cash, beginning of period 14,247 — — 14,247 Cash, end of period $ 11,997 $ — $ — $ 11,997 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended September 30, 2019 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Cash flows from operating activities: Net income $ 65,288 $ 10,656 $ (10,656 ) $ 65,288 Adjustments to reconcile net income to net cash provided by operating activities: . Depreciation and amortization of property and equipment 18,367 2,474 — 20,841 Depreciation of rental equipment 157,380 24,267 — 181,647 Amortization of finance lease right-of-use assets — 122 — 122 Amortization of intangible assets 3,091 — — 3,091 Amortization of deferred financing costs 757 — — 757 Accretion of note discount, net of premium amortization 357 — — 357 Non-cash operating lease expense 6,417 1,604 — 8,021 Provision for losses on accounts receivable 3,869 190 — 4,059 Provision for inventory obsolescence 152 — — 152 Change in deferred income taxes 22,127 — — 22,127 Stock-based compensation expense 3,060 — — 3,060 Gain from sales of property and equipment, net (1,948 ) (391 ) — (2,339 ) Gain from sales of rental equipment, net (27,234 ) (5,546 ) — (32,780 ) Equity in earnings of guarantor subsidiaries (10,656 ) — 10,656 — Changes in operating assets and liabilities, net of acquisitions: Receivables (9,639 ) 7,594 — (2,045 ) Inventories (40,006 ) 375 — (39,631 ) Prepaid expenses and other assets (3,052 ) (46 ) — (3,098 ) Accounts payable (15,472 ) (1,399 ) — (16,871 ) Manufacturer flooring plans payable 2,760 (501 ) — 2,259 Accrued expenses payable and other liabilities (7,914 ) 422 — (7,492 ) Deferred compensation payable 82 — — 82 Net cash provided by operating activities 167,786 39,821 — 207,607 Cash flows from investing activities: Acquisition of businesses, net of cash acquired (106,746 ) — — (106,746 ) Purchases of property and equipment (27,236 ) (4,215 ) — (31,451 ) Purchases of rental equipment (237,436 ) (31,714 ) — (269,150 ) Proceeds from sales of property and equipment 2,651 434 — 3,085 Proceeds from sales of rental equipment 73,966 15,139 — 89,105 Investment in subsidiaries 19,344 — (19,344 ) — Net cash used in investing activities (275,457 ) (20,356 ) (19,344 ) (315,157 ) Cash flows from financing activities: Borrowings on senior secured credit facility 1,174,120 — — 1,174,120 Payments on senior secured credit facility (1,040,750 ) — — (1,040,750 ) Dividends paid (29,525 ) (5 ) — (29,530 ) Purchases of treasury stock (1,640 ) — — (1,640 ) Payments of deferred financing costs (559 ) — — (559 ) Payments of finance lease obligations (56 ) (116 ) — (172 ) Capital contributions — (19,344 ) 19,344 — Net cash provided by (used in) financing activities 101,590 (19,465 ) 19,344 101,469 Net decrease in cash (6,081 ) — — (6,081 ) Cash, beginning of period 16,677 — — 16,677 Cash, end of period 10,596 — — 10,596

Organization and Nature of Op_2

Organization and Nature of Operations (Policies)	9 Months Ended
	Sep. 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 nine month periods ended September 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)	9 Months Ended
	Sep. 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 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, 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. 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. Under Topic 842, Leases, we account for equipment rental contracts as operating leases. We recognize revenue from equipment rentals in the period earned, regardless of the timing of billing to customers. A rental contract includes rates for daily, weekly or monthly use, and rental revenues are earned on a daily basis as rental contracts remain outstanding. Because the rental contracts can extend across multiple reporting periods, we record unbilled rental revenues and deferred rental revenues at the end of reporting periods so rental revenues earned is appropriately stated for the periods presented. For additional information related to our revenue recognition policies pursuant to Topic 606 and Topic 842, please see Significant Accounting Policies in note 2 to our Form 10-K for the year ended December 31, 2019. In the table below, revenues as presented in our condensed consolidated statements of operations for the three and nine month periods ended September 30, 2020 and 2019 are summarized by type and by the applicable accounting standard. Three Month Period Ended September 30, 2020 2019 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 142,708 $ 168 $ 142,876 $ 177,287 $ 305 $ 177,592 Re-rent revenue 6,546 — 6,546 7,205 — 7,205 Ancillary and other rental revenues: Delivery and pick-up — 9,161 9,161 — 10,977 10,977 Other 7,266 — 7,266 8,358 — 8,358 Total ancillary rental revenues 7,266 9,161 16,427 8,358 10,977 19,335 Total equipment rental revenues 156,520 9,329 165,849 192,850 11,282 204,132 New equipment sales — 37,248 37,248 — 65,010 65,010 Used equipment sales — 40,000 40,000 — 31,180 31,180 Parts sales — 27,853 27,853 — 31,499 31,499 Service revenues — 15,637 15,637 — 18,105 18,105 Other — 2,673 2,673 — 3,071 3,071 Total revenues $ 156,520 $ 132,740 $ 289,260 $ 192,850 $ 160,147 $ 352,997 Nine Month Period Ended September 30, 2020 2019 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 431,881 $ 630 $ 432,511 $ 497,709 $ 824 $ 498,533 Re-rent revenue 16,306 — 16,306 19,761 — 19,761 Ancillary and other rental revenues: Delivery and pick-up — 26,890 26,890 — 30,272 30,272 Other 20,455 — 20,455 23,997 — 23,997 Total ancillary rental revenues 20,455 26,890 47,345 23,997 30,272 54,269 Total equipment rental revenues 468,642 27,520 496,162 541,467 31,096 572,563 New equipment sales — 112,068 112,068 — 177,709 177,709 Used equipment sales — 105,231 105,231 — 96,942 96,942 Parts sales — 83,842 83,842 — 93,798 93,798 Service revenues — 48,116 48,116 — 50,398 50,398 Other — 8,099 8,099 — 8,822 8,822 Total revenues $ 468,642 $ 384,876 $ 853,518 $ 541,467 $ 458,765 $ 1,000,232 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 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 nine month periods ended September 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 of the March 31, 2020 interim impairment testing date 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 does not affect our cash flows, liquidity or borrowing capacity under the senior credit facility (the “Credit Facility”), and the charge is excluded from our financial results in evaluating our financial covenant under the Credit Facility. The changes in the carrying amount of goodwill for our reporting units for the periods ended September 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 September 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 during the first quarter of 2020 from the final closing settlement of the Cobra Equipment Rentals, LLC 2019 acquisition. (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”). The guidance removes the following exceptions: 1) exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items, 2) exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment, 3) exception to the ability not to recognize a deferred tax liability for a foreign subsidiary when a foreign equity method investment becomes a subsidiary and 4) exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. Additionally, the guidance simplifies the accounting for income taxes by: 1) requiring that an entity recognize a franchise tax (or similar tax) that is partially based on income as an income-based tax and account for any incremental amount incurred as a non-income-based tax, 2) requiring that an entity evaluate when a step up in the tax basis of goodwill should be considered part of the business combination in which the book goodwill was originally recognized and when it should be considered a separate transaction, 3) specifying that an entity is not required to allocate the consolidated amount of current and deferred tax expense to a legal entity that is not subject to tax in its separate financial statements (although the entity may elect to do so (on an entity-by-entity basis) for a legal entity that is both not subject to tax and disregarded by the taxing authority), 4) requiring that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date and 5) making minor improvements for income tax accounting related to employee stock ownership plans and investments in qualified affordable housing projects accounted for using the equity method. 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 (“ASU 2020-04”), 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. Our exposure related to the expected cessation of LIBOR is limited to the interest expense we incur on our Credit Facility . The potential impact from the cessation of LIBOR as a reference rate, as well as the applicability of ASU 2020-04, is not currently estimable . 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 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 sheets 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 for periods ending after January 4, 2021, but earlier compliance 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)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Revenues by Type and by Applicable Accounting Standard	For additional information related to our revenue recognition policies pursuant to Topic 606 and Topic 842, please see Significant Accounting Policies in note 2 to our Form 10-K for the year ended December 31, 2019. In the table below, revenues as presented in our condensed consolidated statements of operations for the three and nine month periods ended September 30, 2020 and 2019 are summarized by type and by the applicable accounting standard. Three Month Period Ended September 30, 2020 2019 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 142,708 $ 168 $ 142,876 $ 177,287 $ 305 $ 177,592 Re-rent revenue 6,546 — 6,546 7,205 — 7,205 Ancillary and other rental revenues: Delivery and pick-up — 9,161 9,161 — 10,977 10,977 Other 7,266 — 7,266 8,358 — 8,358 Total ancillary rental revenues 7,266 9,161 16,427 8,358 10,977 19,335 Total equipment rental revenues 156,520 9,329 165,849 192,850 11,282 204,132 New equipment sales — 37,248 37,248 — 65,010 65,010 Used equipment sales — 40,000 40,000 — 31,180 31,180 Parts sales — 27,853 27,853 — 31,499 31,499 Service revenues — 15,637 15,637 — 18,105 18,105 Other — 2,673 2,673 — 3,071 3,071 Total revenues $ 156,520 $ 132,740 $ 289,260 $ 192,850 $ 160,147 $ 352,997 Nine Month Period Ended September 30, 2020 2019 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 431,881 $ 630 $ 432,511 $ 497,709 $ 824 $ 498,533 Re-rent revenue 16,306 — 16,306 19,761 — 19,761 Ancillary and other rental revenues: Delivery and pick-up — 26,890 26,890 — 30,272 30,272 Other 20,455 — 20,455 23,997 — 23,997 Total ancillary rental revenues 20,455 26,890 47,345 23,997 30,272 54,269 Total equipment rental revenues 468,642 27,520 496,162 541,467 31,096 572,563 New equipment sales — 112,068 112,068 — 177,709 177,709 Used equipment sales — 105,231 105,231 — 96,942 96,942 Parts sales — 83,842 83,842 — 93,798 93,798 Service revenues — 48,116 48,116 — 50,398 50,398 Other — 8,099 8,099 — 8,822 8,822 Total revenues $ 468,642 $ 384,876 $ 853,518 $ 541,467 $ 458,765 $ 1,000,232
Schedule of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for our reporting units for the periods ended September 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 September 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 during the first quarter of 2020 from the final closing settlement of the Cobra Equipment Rentals, LLC 2019 acquisition. (4) Decrease is related to the goodwill impairment calculated as of March 31, 2020.

Acquisitions (Tables)

Acquisitions (Tables) - We-Rent-It [Member]	9 Months Ended
	Sep. 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 and is reflected in the amounts presented in the table below $’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 period s ended September 30, 2018. The tables below present unaudited pr o forma consolidated statements of operations information for the three and nine month period s ended September 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 September 30, 2018 H&E(1) We-Rent-It Total Total revenues $ 322,141 $ 9,809 $ 331,950 Pretax income 28,971 2,406 31,377 Pro forma adjustments to pretax income: Impact of fair value mark-ups/useful life changes on depreciation (2) — (1,113 ) (1,113 ) Intangible asset amortization (3) — (353 ) (353 ) Interest expense (4) — (1,416 ) (1,416 ) Elimination of historic interest expense (5) — 154 154 Pro forma pretax income (loss) 28,971 (322 ) 28,649 Income tax expense (benefit) 7,657 (83 ) 7,574 Net income (loss) $ 21,314 $ (239 ) $ 21,075 Net income (loss) per share – basic (6) $ 0.60 $ (0.01 ) $ 0.59 Net income (loss) per share – diluted (6) $ 0.59 $ (0.01 ) $ 0.59 (amounts in thousands, except per share data) Nine Month Period Ended September 30, 2018 H&E(1) Rental Inc.(7) We-Rent-It Total Total revenues $ 892,987 $ 7,408 $ 27,036 $ 927,431 Pretax income 69,908 1,020 5,622 76,550 Pro forma adjustments to pretax income: Impact of fair value mark-ups/useful life changes on depreciation (2) — (749 ) (3,339 ) (4,088 ) Intangible asset amortization (3) — (250 ) (788 ) (1,038 ) Interest expense (4) — (480 ) (4,248 ) (4,728 ) Elimination of historic interest expense (5) — 82 360 442 Pro forma pretax income (loss) 69,908 (377 ) (2,393 ) 67,138 Income tax expense (benefit) 18,345 (100 ) (620 ) 17,625 Net income (loss) $ 51,563 $ (277 ) $ (1,773 ) $ 49,513 Net income (loss) per share – basic (6) $ 1.45 $ (0.01 ) $ (0.05 ) $ 1.39 Net income (loss) per share – diluted (6) $ 1.44 $ (0.01 ) $ (0.05 ) $ 1.38 (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 September 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)	9 Months Ended
	Sep. 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 September 30, 2020 and December 31, 2019 are presented in the table below (amounts in thousands). September 30, 2020 Carrying Amount Fair Value Manufacturer flooring plans payable with interest computed at 3.50% (Level 3) $ 11,646 $ 10,504 Senior unsecured notes due 2025 with interest computed at 5.625% (Level 2) 946,155 990,375 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)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Summary of Activity in Stockholders' Equity	The following table summarizes the quarterly activity in Stockholders’ Equity for the periods ended September 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 Stock-based compensation — — 639 — — 639 Cash dividends declared on common stock ($0.275 per share) — — — — (9,947 ) (9,947 ) Issuance of common stock, net of restricted stock forfeitures 232,149 2 — — — 2 Repurchase of 48,751 shares of restricted common stock — — — (906 ) — (906 ) Net income — — — — 10,103 10,103 Balances at September 30, 2020 40,245,706 $ 401 $ 239,139 $ (66,159 ) $ 88,378 $ 261,759 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 — — 1,037 — — 1,037 Cash dividends declared on common stock ($0.275 per share) — — — — (9,889 ) (9,889 ) Issuance of common stock, net of restricted stock forfeitures 119,152 1 — — — 1 Repurchase of 42,922 shares of restricted common stock — — — (1,253 ) — (1,253 ) Net income — — — — 28,431 28,431 Balances at September 30, 2019 39,924,558 $ 398 $ 234,234 $ (64,739 ) $ 124,025 $ 293,918

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 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 nine month period ended September 30, 2020: Number of Shares Weighted Average Grant Date Fair Non-vested stock at December 31, 2019 377,740 $ 29.26 Granted 364,981 $ 18.21 Vested (200,655 ) $ 25.74 Forfeited (11,212 ) $ 29.86 Non-vested stock at September 30, 2020 530,854 $ 22.98
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 nine month periods ended September 30, 2020 and 2019 (amounts in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Compensation expense $ 639 $ 1,037 $ 3,295 $ 3,060

Income (Loss) per Share (Tables

Income (Loss) per Share (Tables)	9 Months Ended
	Sep. 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 nine month periods ended September 30, 2020 and 2019 (amounts in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Basic net income (loss) per share: Net income (loss) $ 10,103 $ 28,431 $ (18,050 ) $ 65,288 Weighted average number of common shares outstanding 36,110 35,893 36,035 35,835 Net income (loss) per share of common stock – basic $ 0.28 $ 0.79 $ (0.50 ) $ 1.82 Diluted net income (loss) per share: Net income (loss) $ 10,103 $ 28,431 $ (18,050 ) $ 65,288 Weighted average number of common shares outstanding 36,110 35,893 36,035 35,835 Effect of dilutive securities: Effect of dilutive non-vested restricted stock 139 153 — 177 Weighted average number of common shares outstanding – diluted 36,249 36,046 36,035 36,012 Net income (loss) per share of common stock – diluted $ 0.28 $ 0.79 $ (0.50 ) $ 1.81 Common shares excluded from the denominator as anti-dilutive: Non-vested restricted stock 190 90 189 42

Senior Unsecured Notes (Tables)

Senior Unsecured Notes (Tables)	9 Months Ended
	Sep. 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 September 30, 2020 1,155 Amortization of note premium through September 30, 2020 (797 ) Amortization of deferred financing costs through September 30, 2020 231 Balance at September 30, 2020 $ 946,155

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Segment Revenues: Equipment rentals $ 165,849 $ 204,132 $ 496,162 $ 572,563 New equipment sales 37,248 65,010 112,068 177,709 Used equipment sales 40,000 31,180 105,231 96,942 Parts sales 27,853 31,499 83,842 93,798 Services revenues 15,637 18,105 48,116 50,398 Total segmented revenues 286,587 349,926 845,419 991,410 Non-segmented revenues 2,673 3,071 8,099 8,822 Total revenues $ 289,260 $ 352,997 $ 853,518 $ 1,000,232 Segment Gross Profit: Equipment rentals $ 65,322 $ 94,558 $ 196,629 $ 258,498 New equipment sales 4,124 7,535 12,259 21,071 Used equipment sales 12,128 9,771 33,639 33,200 Parts sales 6,928 8,328 21,662 25,048 Services revenues 10,439 12,207 32,205 34,137 Total segmented gross profit 98,941 132,399 296,394 371,954 Non-segmented gross profit (loss) 126 (271 ) 226 (1,345 ) Total gross profit $ 99,067 $ 132,128 $ 296,620 $ 370,609 Balances at September 30, December 31, 2020 2019 Segment identified assets: Equipment sales $ 56,462 $ 67,542 Equipment rentals 1,078,403 1,217,673 Parts and services 16,409 17,936 Total segment identified assets 1,151,274 1,303,151 Non-segment identified assets 580,221 671,459 Total assets $ 1,731,495 $ 1,974,610

Condensed Consolidating Finan_2

Condensed Consolidating Financial Information of Guarantor Subsidiaries (Tables)	9 Months Ended
	Sep. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET As of September 30, 2020 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Assets: Cash $ 11,997 $ — $ — $ 11,997 Receivables, net 146,152 21,443 — 167,595 Inventories, net 69,883 2,988 — 72,871 Prepaid expenses and other assets 11,424 173 — 11,597 Rental equipment, net 943,612 134,791 — 1,078,403 Property and equipment, net 104,671 17,502 — 122,173 Operating lease right-of-use assets, net 144,687 20,792 — 165,479 Finance lease right-of-use assets, net — 244 — 244 Deferred financing costs, net 2,332 — — 2,332 Investment in guarantor subsidiaries 188,438 — (188,438 ) — Intangible assets, net 29,953 — — 29,953 Goodwill 57,185 11,666 — 68,851 Total assets $ 1,710,334 $ 209,599 $ (188,438 ) $ 1,731,495 Liabilities and Stockholders’ Equity: Amounts due on senior secured credit facility 17,986 $ — $ — $ 17,986 Accounts payable 66,458 3,347 — 69,805 Manufacturer flooring plans payable 11,646 — — 11,646 Accrued expenses payable and other liabilities 77,710 (3,946 ) — 73,764 Dividends payable 200 (65 ) — 135 Senior unsecured notes, net 946,155 — — 946,155 Operating lease right-of-use liabilities 147,495 21,457 — 168,952 Finance lease right-of-use liabilities — 368 — 368 Deferred income taxes 178,752 — — 178,752 Deferred compensation payable 2,173 — — 2,173 Total liabilities 1,448,575 21,161 — 1,469,736 Stockholders’ equity 261,759 188,438 (188,438 ) 261,759 Total liabilities and stockholders’ equity $ 1,710,334 $ 209,599 $ (188,438 ) $ 1,731,495 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 September 30, 2020 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 142,046 $ 23,803 $ — $ 165,849 New equipment sales 36,315 933 — 37,248 Used equipment sales 35,465 4,535 — 40,000 Parts sales 25,336 2,517 — 27,853 Services revenues 14,186 1,451 — 15,637 Other 2,356 317 — 2,673 Total revenues 255,704 33,556 — 289,260 Cost of revenues: Rental depreciation 50,333 7,750 — 58,083 Rental expense 22,229 3,399 — 25,628 Rental other 14,141 2,675 — 16,816 86,703 13,824 — 100,527 New equipment sales 32,362 762 — 33,124 Used equipment sales 24,952 2,920 — 27,872 Parts sales 19,164 1,761 — 20,925 Services revenues 4,752 446 — 5,198 Other 2,331 216 — 2,547 Total cost of revenues 170,264 19,929 — 190,193 Gross profit: Equipment rentals 55,343 9,979 — 65,322 New equipment sales 3,953 171 — 4,124 Used equipment sales 10,513 1,615 — 12,128 Parts sales 6,172 756 — 6,928 Services revenues 9,434 1,005 — 10,439 Other 25 101 — 126 Gross profit 85,440 13,627 — 99,067 Selling, general and administrative expenses 61,059 8,981 — 70,040 Merger costs 150 — — 150 Equity in earnings of guarantor subsidiaries 2,226 — (2,226 ) — Gain on sales of property and equipment, net 1,852 250 — 2,102 Income from operations 28,309 4,896 (2,226 ) 30,979 Other income (expense): Interest expense (12,174 ) (2,713 ) — (14,887 ) Other, net 947 43 — 990 Total other expense, net (11,227 ) (2,670 ) — (13,897 ) Income before income taxes 17,082 2,226 (2,226 ) 17,082 Income tax expense 6,979 — — 6,979 Net income $ 10,103 $ 2,226 $ (2,226 ) $ 10,103 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended September 30, 2019 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 176,338 $ 27,794 $ — $ 204,132 New equipment sales 60,584 4,426 — 65,010 Used equipment sales 25,850 5,330 — 31,180 Parts sales 27,284 4,215 — 31,499 Services revenues 15,614 2,491 — 18,105 Other 2,590 481 — 3,071 Total revenues 308,260 44,737 — 352,997 Cost of revenues: Rental depreciation 54,757 8,308 — 63,065 Rental expense 23,947 3,942 — 27,889 Rental other 15,505 3,115 — 18,620 94,209 15,365 — 109,574 New equipment sales 53,542 3,933 — 57,475 Used equipment sales 17,958 3,451 — 21,409 Parts sales 20,150 3,021 — 23,171 Services revenues 5,131 767 — 5,898 Other 2,977 365 — 3,342 Total cost of revenues 193,967 26,902 — 220,869 Gross profit (loss): Equipment rentals 82,129 12,429 — 94,558 New equipment sales 7,042 493 — 7,535 Used equipment sales 7,892 1,879 — 9,771 Parts sales 7,134 1,194 — 8,328 Services revenues 10,483 1,724 — 12,207 Other (387 ) 116 — (271 ) Gross profit 114,293 17,835 — 132,128 Selling, general and administrative expenses 67,372 9,924 — 77,296 Merger costs 47 — — 47 Equity in earnings of guarantor subsidiaries 4,701 — (4,701 ) — Gain on sales of property and equipment, net 686 32 — 718 Income from operations 52,261 7,943 (4,701 ) 55,503 Other income (expense): Interest expense (14,013 ) (3,318 ) — (17,331 ) Other, net 512 76 — 588 Total other expense, net (13,501 ) (3,242 ) — (16,743 ) Income before income taxes 38,760 4,701 (4,701 ) 38,760 Income tax expense 10,329 — — 10,329 Net income $ 28,431 $ 4,701 $ (4,701 ) $ 28,431 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Nine Months Ended September 30, 2020 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 429,040 $ 67,122 $ — $ 496,162 New equipment sales 107,813 4,255 — 112,068 Used equipment sales 91,918 13,313 — 105,231 Parts sales 74,847 8,995 — 83,842 Services revenues 42,429 5,687 — 48,116 Other 6,944 1,155 — 8,099 Total revenues 752,991 100,527 — 853,518 Cost of revenues: Rental depreciation 153,870 23,355 — 177,225 Rental expense 64,733 9,728 — 74,461 Rental other 40,376 7,471 — 47,847 258,979 40,554 — 299,533 New equipment sales 96,184 3,625 — 99,809 Used equipment sales 63,241 8,351 — 71,592 Parts sales 55,836 6,344 — 62,180 Services revenues 14,119 1,792 — 15,911 Other 7,011 862 — 7,873 Total cost of revenues 495,370 61,528 — 556,898 Gross profit (loss): Equipment rentals 170,061 26,568 — 196,629 New equipment sales 11,629 630 — 12,259 Used equipment sales 28,677 4,962 — 33,639 Parts sales 19,011 2,651 — 21,662 Services revenues 28,310 3,895 — 32,205 Other (67 ) 293 — 226 Gross profit 257,621 38,999 — 296,620 Selling, general and administrative expenses 189,811 27,714 — 217,525 Impairment of goodwill 61,994 — — 61,994 Merger costs 308 — — 308 Equity in earnings of guarantor subsidiaries 3,904 — (3,904 ) — Gain on sales of property and equipment, net 8,122 1,138 — 9,260 Income from operations 17,534 12,423 (3,904 ) 26,053 Other income (expense): Interest expense (37,821 ) (8,668 ) — (46,489 ) Other, net 2,113 149 — 2,262 Total other expense, net (35,708 ) (8,519 ) — (44,227 ) Income (loss) before income taxes (18,174 ) 3,904 (3,904 ) (18,174 ) Income tax benefit (124 ) — — (124 ) Net income (loss) $ (18,050 ) $ 3,904 $ (3,904 ) $ (18,050 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Nine Months Ended September 30, 2019 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Revenues: Equipment rentals $ 495,246 $ 77,317 $ — $ 572,563 New equipment sales 160,200 17,509 — 177,709 Used equipment sales 81,430 15,512 — 96,942 Parts sales 81,326 12,472 — 93,798 Services revenues 42,922 7,476 — 50,398 Other 7,422 1,400 — 8,822 Total revenues 868,546 131,686 — 1,000,232 Cost of revenues: Rental depreciation 157,380 24,267 — 181,647 Rental expense 68,242 11,434 — 79,676 Rental other 44,500 8,242 — 52,742 270,122 43,943 — 314,065 New equipment sales 141,181 15,457 — 156,638 Used equipment sales 53,791 9,951 — 63,742 Parts sales 59,962 8,788 — 68,750 Services revenues 13,971 2,290 — 16,261 Other 8,963 1,204 — 10,167 Total cost of revenues 547,990 81,633 — 629,623 Gross profit (loss): Equipment rentals 225,124 33,374 — 258,498 New equipment sales 19,019 2,052 — 21,071 Used equipment sales 27,639 5,561 — 33,200 Parts sales 21,364 3,684 — 25,048 Services revenues 28,951 5,186 — 34,137 Other (1,541 ) 196 — (1,345 ) Gross profit 320,556 50,053 — 370,609 Selling, general and administrative expenses 203,785 29,998 — 233,783 Merger costs 314 — — 314 Equity in earnings of guarantor subsidiaries 10,656 — (10,656 ) — Gain on sales of property and equipment, net 1,948 391 — 2,339 Income from operations 129,061 20,446 (10,656 ) 138,851 Other income (expense): Interest expense (41,461 ) (9,992 ) — (51,453 ) Other, net 1,407 202 — 1,609 Total other expense, net (40,054 ) (9,790 ) — (49,844 ) Income before income taxes 89,007 10,656 (10,656 ) 89,007 Income tax expense 23,719 — — 23,719 Net income $ 65,288 $ 10,656 $ (10,656 ) $ 65,288
Condensed Consolidating Statement of Cash Flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended September 30, 2020 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Cash flows from operating activities: Net income (loss) $ (18,050 ) $ 3,904 $ (3,904 ) $ (18,050 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization on property and equipment 18,672 3,616 — 22,288 Depreciation of rental equipment 153,870 23,355 — 177,225 Amortization of finance lease right-of-use assets — 121 — 121 Amortization of intangible assets 2,996 — — 2,996 Amortization of deferred financing costs 755 — — 755 Accretion of note discount, net of premium amortization 358 — — 358 Non-cash operating lease expense 8,495 2,124 — 10,619 Impairment of goodwill 61,994 — — 61,994 Provision for losses on accounts receivable 3,143 197 — 3,340 Provision for inventory obsolescence 95 — — 95 Change in deferred income taxes (1,374 ) — — (1,374 ) Stock-based compensation expense 3,295 — — 3,295 Gain from sales of property and equipment, net (8,122 ) (1,138 ) — (9,260 ) Gain from sales of rental equipment, net (28,175 ) (4,927 ) — (33,102 ) Equity in earnings of guarantor subsidiaries (3,904 ) — 3,904 — Changes in operating assets and liabilities: Receivables 14,965 6,304 — 21,269 Inventories (7,115 ) (597 ) — (7,712 ) Prepaid expenses and other assets (1,315 ) (40 ) — (1,355 ) Accounts payable 10,830 719 — 11,549 Manufacturer flooring plans payable (13,555 ) — — (13,555 ) Accrued expenses payable and other liabilities (11,785 ) (2,693 ) — (14,478 ) Deferred compensation payable 75 — — 75 Net cash provided by operating activities 186,148 30,945 — 217,093 Cash flows from investing activities: Purchases of property and equipment (14,771 ) (2,512 ) — (17,283 ) Purchases of rental equipment (71,756 ) (9,670 ) — (81,426 ) Proceeds from sales of property and equipment 11,021 1,667 — 12,688 Proceeds from sales of rental equipment 83,685 13,112 — 96,797 Investment in subsidiaries 33,355 — (33,355 ) — Net cash provided by investing activities 41,534 2,597 (33,355 ) 10,776 Cash flows from financing activities: Borrowings on senior secured credit facility 729,810 — — 729,810 Payments on senior secured credit facility (928,703 ) — — (928,703 ) Dividends paid (29,663 ) (5 ) — (29,668 ) Purchases of treasury stock (1,376 ) — — (1,376 ) Payments on finance lease obligations — (182 ) — (182 ) Capital contributions — (33,355 ) 33,355 — Net cash used in financing activities (229,932 ) (33,542 ) 33,355 (230,119 ) Net decrease in cash (2,250 ) — — (2,250 ) Cash, beginning of period 14,247 — — 14,247 Cash, end of period $ 11,997 $ — $ — $ 11,997 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended September 30, 2019 H&E Services Guarantor Subsidiaries Elimination Consolidated (Amounts in thousands) Cash flows from operating activities: Net income $ 65,288 $ 10,656 $ (10,656 ) $ 65,288 Adjustments to reconcile net income to net cash provided by operating activities: . Depreciation and amortization of property and equipment 18,367 2,474 — 20,841 Depreciation of rental equipment 157,380 24,267 — 181,647 Amortization of finance lease right-of-use assets — 122 — 122 Amortization of intangible assets 3,091 — — 3,091 Amortization of deferred financing costs 757 — — 757 Accretion of note discount, net of premium amortization 357 — — 357 Non-cash operating lease expense 6,417 1,604 — 8,021 Provision for losses on accounts receivable 3,869 190 — 4,059 Provision for inventory obsolescence 152 — — 152 Change in deferred income taxes 22,127 — — 22,127 Stock-based compensation expense 3,060 — — 3,060 Gain from sales of property and equipment, net (1,948 ) (391 ) — (2,339 ) Gain from sales of rental equipment, net (27,234 ) (5,546 ) — (32,780 ) Equity in earnings of guarantor subsidiaries (10,656 ) — 10,656 — Changes in operating assets and liabilities, net of acquisitions: Receivables (9,639 ) 7,594 — (2,045 ) Inventories (40,006 ) 375 — (39,631 ) Prepaid expenses and other assets (3,052 ) (46 ) — (3,098 ) Accounts payable (15,472 ) (1,399 ) — (16,871 ) Manufacturer flooring plans payable 2,760 (501 ) — 2,259 Accrued expenses payable and other liabilities (7,914 ) 422 — (7,492 ) Deferred compensation payable 82 — — 82 Net cash provided by operating activities 167,786 39,821 — 207,607 Cash flows from investing activities: Acquisition of businesses, net of cash acquired (106,746 ) — — (106,746 ) Purchases of property and equipment (27,236 ) (4,215 ) — (31,451 ) Purchases of rental equipment (237,436 ) (31,714 ) — (269,150 ) Proceeds from sales of property and equipment 2,651 434 — 3,085 Proceeds from sales of rental equipment 73,966 15,139 — 89,105 Investment in subsidiaries 19,344 — (19,344 ) — Net cash used in investing activities (275,457 ) (20,356 ) (19,344 ) (315,157 ) Cash flows from financing activities: Borrowings on senior secured credit facility 1,174,120 — — 1,174,120 Payments on senior secured credit facility (1,040,750 ) — — (1,040,750 ) Dividends paid (29,525 ) (5 ) — (29,530 ) Purchases of treasury stock (1,640 ) — — (1,640 ) Payments of deferred financing costs (559 ) — — (559 ) Payments of finance lease obligations (56 ) (116 ) — (172 ) Capital contributions — (19,344 ) 19,344 — Net cash provided by (used in) financing activities 101,590 (19,465 ) 19,344 101,469 Net decrease in cash (6,081 ) — — (6,081 ) Cash, beginning of period 16,677 — — 16,677 Cash, end of period 10,596 — — 10,596

Organization and Nature of Op_3

Organization and Nature of Operations - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2020
COVID-19 [Member]
Unusual Or Infrequent Item [Line Items]
Decrease in percentage of revenue	14.70%

Significant Accounting Polici_4

Significant Accounting Policies - Summary of Revenues by Type and by Applicable Accounting Standard (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Revenues	$ 289,260	$ 352,997	$ 322,141	$ 853,518	$ 1,000,232	$ 892,987
Topic 842 [Member]
Revenues:
Revenues	156,520	192,850		468,642	541,467
Topic 606 [Member]
Revenues:
Revenues	132,740	160,147		384,876	458,765
Rental Revenues [Member] | Owned Equipment Rentals [Member]
Revenues:
Revenues	142,876	177,592		432,511	498,533
Rental Revenues [Member] | Owned Equipment Rentals [Member] | Topic 842 [Member]
Revenues:
Revenues	142,708	177,287		431,881	497,709
Rental Revenues [Member] | Owned Equipment Rentals [Member] | Topic 606 [Member]
Revenues:
Revenues	168	305		630	824
Rental Revenues [Member] | Re Rent Revenues [Member]
Revenues:
Revenues	6,546	7,205		16,306	19,761
Rental Revenues [Member] | Re Rent Revenues [Member] | Topic 842 [Member]
Revenues:
Revenues	6,546	7,205		16,306	19,761
Ancillary And Other Rental Revenues [Member]
Revenues:
Revenues	16,427	19,335		47,345	54,269
Ancillary And Other Rental Revenues [Member] | Topic 842 [Member]
Revenues:
Revenues	7,266	8,358		20,455	23,997
Ancillary And Other Rental Revenues [Member] | Topic 606 [Member]
Revenues:
Revenues	9,161	10,977		26,890	30,272
Ancillary And Other Rental Revenues [Member] | Delivery and Pick-up [Member]
Revenues:
Revenues	9,161	10,977		26,890	30,272
Ancillary And Other Rental Revenues [Member] | Delivery and Pick-up [Member] | Topic 606 [Member]
Revenues:
Revenues	9,161	10,977		26,890	30,272
Ancillary And Other Rental Revenues [Member] | Other [Member]
Revenues:
Revenues	7,266	8,358		20,455	23,997
Ancillary And Other Rental Revenues [Member] | Other [Member] | Topic 842 [Member]
Revenues:
Revenues	7,266	8,358		20,455	23,997
Total Equipment Rental Revenues [Member]
Revenues:
Revenues	165,849	204,132		496,162	572,563
Total Equipment Rental Revenues [Member] | Topic 842 [Member]
Revenues:
Revenues	156,520	192,850		468,642	541,467
Total Equipment Rental Revenues [Member] | Topic 606 [Member]
Revenues:
Revenues	9,329	11,282		27,520	31,096
New Equipment Sales [Member]
Revenues:
Revenues	37,248	65,010		112,068	177,709
New Equipment Sales [Member] | Topic 606 [Member]
Revenues:
Revenues	37,248	65,010		112,068	177,709
Used Equipment Sales [Member]
Revenues:
Revenues	40,000	31,180		105,231	96,942
Used Equipment Sales [Member] | Topic 606 [Member]
Revenues:
Revenues	40,000	31,180		105,231	96,942
Parts Sales [Member]
Revenues:
Revenues	27,853	31,499		83,842	93,798
Parts Sales [Member] | Topic 606 [Member]
Revenues:
Revenues	27,853	31,499		83,842	93,798
Parts and Services [Member]
Revenues:
Revenues	15,637	18,105		48,116	50,398
Parts and Services [Member] | Topic 606 [Member]
Revenues:
Revenues	15,637	18,105		48,116	50,398
Other [Member]
Revenues:
Revenues	2,673	3,071		8,099	8,822
Other [Member] | Topic 606 [Member]
Revenues:
Revenues	$ 2,673	$ 3,071		$ 8,099	$ 8,822

Significant Accounting Polici_5

Significant Accounting Policies - Additional Information (Detail)	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2020USD ($)Customer	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019Customer	Sep. 30, 2020USD ($)CustomerSegment	Sep. 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
Topic 326 [Member]
Summary Of Significant Accounting Policy [Line Items]
Change in accounting principle, accounting standards update, adopted	true				true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2020				Jan. 1, 2020
Change in accounting principle, accounting standards update, immaterial effect	true				true
Accounting Standards Update 2018-13 [Member]
Summary Of Significant Accounting Policy [Line Items]
Change in accounting principle, accounting standards update, adopted	true				true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2020				Jan. 1, 2020
Change in accounting principle, accounting standards update, immaterial effect	true				true
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 ($)	9 Months Ended	12 Months Ended
	Sep. 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 ($)Branch	Sep. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)
Business Acquisition [Line Items]
Acquisition costs		$ 150		$ 47	$ 308	$ 314
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	Sep. 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 ($)ReportingUnit	Sep. 30, 2020USD ($)	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			9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Business Acquisition [Line Items]
Total revenues	$ 289,260	$ 352,997	$ 322,141	$ 853,518	$ 1,000,232	$ 892,987
Pretax income	$ 17,082	$ 38,760	28,971	$ (18,174)	$ 89,007	69,908
Pro forma pretax income (loss)			28,971			69,908
Income tax expense (benefit)			7,657			18,345
Net income (loss)			$ 21,314			$ 51,563
Net income (loss) per share – basic			$ 0.60			$ 1.45
Net income (loss) per share – diluted			$ 0.59			$ 1.44
Pro forma adjustments to pretax income:
Total revenues			$ 331,950			$ 927,431
Pretax income			31,377			76,550
Pro forma adjustments to pretax income:
Impact of fair value mark-ups/useful life changes on depreciation			(1,113)			(4,088)
Intangible asset amortization			(353)			(1,038)
Interest expense			(1,416)			(4,728)
Elimination of historic interest expense			154			442
Pro forma pretax income (loss)			28,649			67,138
Income tax expense (benefit)			7,574			17,625
Net income (loss)			$ 21,075			$ 49,513
Net income (loss) per share – basic			$ 0.59			$ 1.39
Net income (loss) per share – diluted			$ 0.59			$ 1.38
We-Rent-It [Member]
Business Acquisition [Line Items]
Total revenues			$ 9,809			$ 27,036
Pretax income			2,406			5,622
Pro forma adjustments to pretax income:
Impact of fair value mark-ups/useful life changes on depreciation			(1,113)			(3,339)
Intangible asset amortization			(353)			(788)
Interest expense			(1,416)			(4,248)
Elimination of historic interest expense			154			360
Pro forma pretax income (loss)			(322)			(2,393)
Income tax expense (benefit)			(83)			(620)
Net income (loss)			$ (239)			$ (1,773)
Net income (loss) per share – basic			$ (0.01)			$ (0.05)
Net income (loss) per share – diluted			$ (0.01)			$ (0.05)
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						(250)
Interest expense						(480)
Elimination of historic interest expense						82
Pro forma pretax income (loss)						(377)
Income tax expense (benefit)						(100)
Net income (loss)						$ (277)
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	Sep. 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]% and 5.25% (Level 3)	$ 11,646	$ 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]% and 5.25% (Level 3)	10,504	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]% and 5.625% (Level 2)	946,155	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]% and 5.625% (Level 2)	$ 990,375	$ 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	9 Months Ended
	Dec. 31, 2019	Sep. 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		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 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						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 261,868	$ 261,945	$ 307,519	$ 275,591	$ 261,999	$ 256,803	$ 307,519	$ 256,803
Beginning Balances, shares			39,921,838				39,921,838
Stock-based compensation	639	1,004	$ 1,652	1,037	835	1,188
Cash dividends declared on common stock ($0.275 per share)	(9,947)	(9,896)	(9,789)	(9,889)	(9,857)	(9,793)
Issuance of common stock, net of restricted stock forfeitures	2		1	1		1
Repurchase of shares of restricted common stock	(906)		(470)	(1,253)		$ (387)
Accounting Standards Update [Extensible List]						us-gaap:AccountingStandardsUpdate201602Member
Net income (loss)	10,103	8,815	(36,968)	28,431	22,614	$ 14,243	$ (18,050)	65,288
Ending Balances	$ 261,759	261,868	261,945	293,918	275,591	261,999	$ 261,759	293,918
Ending Balances, shares	40,245,706						40,245,706
Cumulative Effect, Period of Adoption, Adjustment [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances						(56)		(56)
Common Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 399	$ 399	$ 398	$ 397	$ 397	$ 396	$ 398	$ 396
Beginning Balances, shares	40,013,557	40,020,289	39,921,838	39,805,406	39,808,072	39,748,562	39,921,838	39,748,562
Issuance of common stock, net of restricted stock forfeitures	$ 2		$ 1	$ 1		$ 1
Issuance of common stock, net of restricted stock forfeitures, shares	232,149		98,451	119,152		59,510
Restricted stock forfeitures, shares		(6,732)			(2,666)
Ending Balances	$ 401	$ 399	$ 399	$ 398	$ 397	$ 397	$ 401	$ 398
Ending Balances, shares	40,245,706	40,013,557	40,020,289	39,924,558	39,805,406	39,808,072	40,245,706	39,924,558
Additional Paid-in Capital [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 238,500	$ 237,496	$ 235,844	$ 233,197	$ 232,362	$ 231,174	$ 235,844	$ 231,174
Stock-based compensation	639	1,004	1,652	1,037	835	1,188
Ending Balances	239,139	238,500	237,496	234,234	233,197	232,362	239,139	234,234
Treasury Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	(65,253)	(65,253)	(64,783)	(63,486)	(63,486)	(63,099)	(64,783)	(63,099)
Repurchase of shares of restricted common stock	(906)		(470)	(1,253)		(387)
Ending Balances	(66,159)	(65,253)	(65,253)	(64,739)	(63,486)	(63,486)	(66,159)	(64,739)
Retained Earnings [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	88,222	89,303	136,060	105,483	92,726	88,332	136,060	88,332
Cash dividends declared on common stock ($0.275 per share)	(9,947)	(9,896)	(9,789)	(9,889)	(9,857)	(9,793)
Net income (loss)	10,103	8,815	(36,968)	28,431	22,614	14,243
Ending Balances	$ 88,378	$ 88,222	$ 89,303	$ 124,025	$ 105,483	92,726	$ 88,378	124,025
Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances						$ (56)		$ (56)

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Activity in Stockholders' Equity (Parenthetical) (Detail) - $ / shares	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Schedule of Capitalization, Equity [Line Items]
Cash dividends declared on common stock, per share	$ 0.275			$ 0.275			$ 0.825	$ 0.825
Repurchase of restricted common stock, shares	48,751		26,392	42,922		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	$ 0.275	$ 0.275

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense related to non-vested stock | $	$ 6.1
Expected non-vested stock recognized over a weighted-average period	2 years 2 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	1,321,546

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Non-Vested Stock Activity (Detail)	9 Months Ended
	Sep. 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	364,981
Vested, Number of Shares | shares	(200,655)
Forfeited, Number of Shares | shares	(11,212)
Non-vested stock, ending balance, Number of Shares | shares	530,854
Non-vested stock, beginning balance, Weighted Average Grant Date Fair Value | $ / shares	$ 29.26
Granted, Weighted Average Grant Date Fair Value | $ / shares	18.21
Vested, Weighted Average Grant Date Fair Value | $ / shares	25.74
Forfeited, Weighted Average Grant Date Fair Value | $ / shares	29.86
Non-vested stock, ending balance, Weighted Average Grant Date Fair Value | $ / shares	$ 22.98

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Compensation Expense Related to Non-Vested Stock (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Compensation expense	$ 639	$ 1,037	$ 3,295	$ 3,060

Income (Loss) per Share - Addit

Income (Loss) per Share - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Restricted common shares, percentage	0.90%	0.80%	0.90%	0.80%

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						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Basic net income (loss) per share:
Net income (loss)	$ 10,103	$ 8,815	$ (36,968)	$ 28,431	$ 22,614	$ 14,243	$ (18,050)	$ 65,288
Weighted average number of common shares outstanding	36,110			35,893			36,035	35,835
Net income (loss) per share of common stock – basic	$ 0.28			$ 0.79			$ (0.50)	$ 1.82
Diluted net income (loss) per share:
Net income (loss)	$ 10,103	$ 8,815	$ (36,968)	$ 28,431	$ 22,614	$ 14,243	$ (18,050)	$ 65,288
Weighted average number of common shares outstanding	36,110			35,893			36,035	35,835
Effect of dilutive securities:
Weighted average number of common shares outstanding – diluted	36,249			36,046			36,035	36,012
Net income (loss) per share of common stock – diluted	$ 0.28			$ 0.79			$ (0.50)	$ 1.81
Non-vested restricted stock [Member]
Effect of dilutive securities:
Effect of dilutive non-vested restricted stock	139			153				177
Common shares excluded from the denominator as anti-dilutive:
Non-vested restricted stock	190			90			189	42

Senior Secured Credit Facility

Senior Secured Credit Facility - Additional Information (Detail) - USD ($)	Oct. 21, 2020	Sep. 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		18,000,000
Available borrowings under our senior secured credit facility		$ 724,300,000
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	$ 742,300,000

Senior Unsecured Notes - Reconc

Senior Unsecured Notes - Reconciliation of Senior Unsecured Notes to Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Senior unsecured notes, beginning balance	$ 945,566
Amortization of deferred financing costs	755	$ 757
Senior unsecured notes, ending balance	946,155		$ 945,566
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Senior unsecured notes, beginning balance	945,566	$ 944,780	944,780
Accretion of discount	1,155		1,539
Amortization of note premium	(797)		(1,062)
Amortization of deferred financing costs	231		309
Senior unsecured notes, ending balance	$ 946,155		$ 945,566

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Net operating lease right-of-use assets	$ 165,479	$ 156,570
Net finance lease right-of-use assets	244	365
Operating lease liabilities	168,952	159,265
Finance lease liabilities	$ 368	$ 550
Weighted average remaining lease term for operating leases	9 years 9 months 18 days
Weighted average remaining lease term for finance leases	1 year 6 months
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	9 Months Ended
	Sep. 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%
Expect to realize reduction on cash taxes paid	$ 5.4
Federal tax refund claim	1.5
Deferral of payroll taxes	$ 6.7

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020Customer	Sep. 30, 2019Customer	Sep. 30, 2020CustomerSegment	Sep. 30, 2019Customer	Dec. 31, 2019Customer
Segment Reporting [Abstract]
Number of reportable segment | Segment			5
Sales to international customers	0.20%	0.10%	0.30%	0.30%
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			9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2019
Segment Revenues:
Revenues	$ 289,260	$ 352,997	$ 322,141	$ 853,518	$ 1,000,232	$ 892,987
Segment Gross Profit:
Total gross profit	99,067	132,128		296,620	370,609
Segment identified assets:
Total assets	1,731,495			1,731,495			$ 1,974,610
Equipment Rentals [Member]
Segment Revenues:
Revenues	165,849	204,132		496,162	572,563
Segment Gross Profit:
Total gross profit	65,322	94,558		196,629	258,498
New Equipment Sales [Member]
Segment Revenues:
Revenues	37,248	65,010		112,068	177,709
Segment Gross Profit:
Total gross profit	4,124	7,535		12,259	21,071
Used Equipment Sales [Member]
Segment Revenues:
Revenues	40,000	31,180		105,231	96,942
Segment Gross Profit:
Total gross profit	12,128	9,771		33,639	33,200
Parts Sales [Member]
Segment Revenues:
Revenues	27,853	31,499		83,842	93,798
Segment Gross Profit:
Total gross profit	6,928	8,328		21,662	25,048
Services Revenues [Member]
Segment Revenues:
Revenues	15,637	18,105		48,116	50,398
Segment Gross Profit:
Total gross profit	10,439	12,207		32,205	34,137
Operating Segments [Member]
Segment Revenues:
Revenues	286,587	349,926		845,419	991,410
Segment Gross Profit:
Total gross profit	98,941	132,399		296,394	371,954
Segment identified assets:
Total assets	1,151,274			1,151,274			1,303,151
Operating Segments [Member] | Equipment Rentals [Member]
Segment Revenues:
Revenues	165,849	204,132		496,162	572,563
Segment Gross Profit:
Total gross profit	65,322	94,558		196,629	258,498
Segment identified assets:
Total assets	1,078,403			1,078,403			1,217,673
Operating Segments [Member] | New Equipment Sales [Member]
Segment Revenues:
Revenues	37,248	65,010		112,068	177,709
Segment Gross Profit:
Total gross profit	4,124	7,535		12,259	21,071
Operating Segments [Member] | Used Equipment Sales [Member]
Segment Revenues:
Revenues	40,000	31,180		105,231	96,942
Segment Gross Profit:
Total gross profit	12,128	9,771		33,639	33,200
Segment identified assets:
Total assets	56,462			56,462			67,542
Operating Segments [Member] | Parts Sales [Member]
Segment Revenues:
Revenues	27,853	31,499		83,842	93,798
Segment Gross Profit:
Total gross profit	6,928	8,328		21,662	25,048
Operating Segments [Member] | Services Revenues [Member]
Segment Revenues:
Revenues	15,637	18,105		48,116	50,398
Segment Gross Profit:
Total gross profit	10,439	12,207		32,205	34,137
Operating Segments [Member] | Parts and Services [Member]
Segment identified assets:
Total assets	16,409			16,409			17,936
Non-Segmented [Member]
Segment Revenues:
Revenues	2,673	3,071		8,099	8,822
Segment Gross Profit:
Total gross profit	126	$ (271)		226	$ (1,345)
Segment identified assets:
Total assets	$ 580,221			$ 580,221			$ 671,459

Condensed Consolidating Finan_3

Condensed Consolidating Financial Information of Guarantor Subsidiaries - Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Assets:
Cash	$ 11,997			$ 14,247
Receivables, net	167,595			192,204
Inventories, net	72,871			85,478
Prepaid expenses and other assets	11,597			10,262
Rental equipment, net	1,078,403			1,217,673
Property and equipment, net	122,173			130,564
Operating lease right-of-use assets, net	165,479			156,570
Finance lease right-of-use assets, net	244			365
Deferred financing costs, net	2,332			2,857
Intangible assets, net	29,953			32,948
Goodwill	68,851			131,442				$ 105,843
Total assets	1,731,495			1,974,610
Liabilities and Stockholders’ Equity:
Amounts due on senior secured credit facility	17,986			216,879
Accounts payable	69,805			58,853
Manufacturer flooring plans payable	11,646			25,201
Accrued expenses payable and other liabilities	73,764			78,382
Dividends payable	135			171
Senior unsecured notes, net	946,155			945,566
Operating lease right-of-use liabilities, net	168,952			159,265
Finance lease right-of-use liabilities, net	368			550
Deferred income taxes	178,752			180,126
Deferred compensation payable	2,173			2,098
Total liabilities	1,469,736			1,667,091
Stockholders’ equity	261,759	$ 261,868	$ 261,945	307,519	$ 293,918	$ 275,591	$ 261,999	$ 256,803
Total liabilities and stockholders’ equity	1,731,495			1,974,610
Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Assets:
Cash	11,997			14,247
Receivables, net	146,152			164,260
Inventories, net	69,883			81,945
Prepaid expenses and other assets	11,424			10,129
Rental equipment, net	943,612			1,062,154
Property and equipment, net	104,671			111,429
Operating lease right-of-use assets, net	144,687			137,625
Deferred financing costs, net	2,332			2,857
Investment in guarantor subsidiaries	188,438			235,749
Intangible assets, net	29,953			32,948
Goodwill	57,185			101,916
Total assets	1,710,334			1,955,259
Liabilities and Stockholders’ Equity:
Amounts due on senior secured credit facility	17,986			216,879
Accounts payable	66,458			56,225
Manufacturer flooring plans payable	11,646			25,201
Accrued expenses payable and other liabilities	77,710			81,646
Dividends payable	200			231
Senior unsecured notes, net	946,155			945,566
Operating lease right-of-use liabilities, net	147,495			139,768
Deferred income taxes	178,752			180,126
Deferred compensation payable	2,173			2,098
Total liabilities	1,448,575			1,647,740
Stockholders’ equity	261,759			307,519
Total liabilities and stockholders’ equity	1,710,334			1,955,259
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Assets:
Receivables, net	21,443			27,944
Inventories, net	2,988			3,533
Prepaid expenses and other assets	173			133
Rental equipment, net	134,791			155,519
Property and equipment, net	17,502			19,135
Operating lease right-of-use assets, net	20,792			18,945
Finance lease right-of-use assets, net	244			365
Goodwill	11,666			29,526
Total assets	209,599			255,100
Liabilities and Stockholders’ Equity:
Accounts payable	3,347			2,628
Accrued expenses payable and other liabilities	(3,946)			(3,264)
Dividends payable	(65)			(60)
Operating lease right-of-use liabilities, net	21,457			19,497
Finance lease right-of-use liabilities, net	368			550
Total liabilities	21,161			19,351
Stockholders’ equity	188,438			235,749
Total liabilities and stockholders’ equity	209,599			255,100
Elimination [Member]
Assets:
Investment in guarantor subsidiaries	(188,438)			(235,749)
Total assets	(188,438)			(235,749)
Liabilities and Stockholders’ Equity:
Stockholders’ equity	(188,438)			(235,749)
Total liabilities and stockholders’ equity	$ (188,438)			$ (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							9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Revenues	$ 289,260			$ 352,997			$ 322,141	$ 853,518	$ 1,000,232	$ 892,987
Cost of revenues:
Cost of revenues	190,193			220,869				556,898	629,623
Gross profit (loss):
Gross profit	99,067			132,128				296,620	370,609
Selling, general and administrative expenses	70,040			77,296				217,525	233,783
Impairment of goodwill								61,994
Merger costs	150			47				308	314
Gain on sales of property and equipment, net	2,102			718				9,260	2,339
Income from operations	30,979			55,503				26,053	138,851
Other income (expense):
Interest expense	(14,887)			(17,331)				(46,489)	(51,453)
Other, net	990			588				2,262	1,609
Total other expense, net	(13,897)			(16,743)				(44,227)	(49,844)
Income (loss) before provision (benefit) for income taxes	17,082			38,760			$ 28,971	(18,174)	89,007	$ 69,908
Income tax expense (benefit)	6,979			10,329				(124)	23,719
Net income (loss)	10,103	$ 8,815	$ (36,968)	28,431	$ 22,614	$ 14,243		(18,050)	65,288
Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Revenues:
Revenues	255,704			308,260				752,991	868,546
Cost of revenues:
Cost of revenues	170,264			193,967				495,370	547,990
Gross profit (loss):
Gross profit	85,440			114,293				257,621	320,556
Selling, general and administrative expenses	61,059			67,372				189,811	203,785
Impairment of goodwill								61,994
Merger costs	150			47				308	314
Equity in earnings of guarantor subsidiaries	2,226			4,701				3,904	10,656
Gain on sales of property and equipment, net	1,852			686				8,122	1,948
Income from operations	28,309			52,261				17,534	129,061
Other income (expense):
Interest expense	(12,174)			(14,013)				(37,821)	(41,461)
Other, net	947			512				2,113	1,407
Total other expense, net	(11,227)			(13,501)				(35,708)	(40,054)
Income (loss) before provision (benefit) for income taxes	17,082			38,760				(18,174)	89,007
Income tax expense (benefit)	6,979			10,329				(124)	23,719
Net income (loss)	10,103			28,431				(18,050)	65,288
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenues:
Revenues	33,556			44,737				100,527	131,686
Cost of revenues:
Cost of revenues	19,929			26,902				61,528	81,633
Gross profit (loss):
Gross profit	13,627			17,835				38,999	50,053
Selling, general and administrative expenses	8,981			9,924				27,714	29,998
Gain on sales of property and equipment, net	250			32				1,138	391
Income from operations	4,896			7,943				12,423	20,446
Other income (expense):
Interest expense	(2,713)			(3,318)				(8,668)	(9,992)
Other, net	43			76				149	202
Total other expense, net	(2,670)			(3,242)				(8,519)	(9,790)
Income (loss) before provision (benefit) for income taxes	2,226			4,701				3,904	10,656
Net income (loss)	2,226			4,701				3,904	10,656
Elimination [Member]
Gross profit (loss):
Equity in earnings of guarantor subsidiaries	(2,226)			(4,701)				(3,904)	(10,656)
Income from operations	(2,226)			(4,701)				(3,904)	(10,656)
Other income (expense):
Income (loss) before provision (benefit) for income taxes	(2,226)			(4,701)				(3,904)	(10,656)
Net income (loss)	(2,226)			(4,701)				(3,904)	(10,656)
Equipment Rentals [Member]
Revenues:
Revenues	165,849			204,132				496,162	572,563
Cost of revenues:
Cost of revenues	100,527			109,574				299,533	314,065
Gross profit (loss):
Gross profit	65,322			94,558				196,629	258,498
Equipment Rentals [Member] | Rentals Other [Member]
Cost of revenues:
Cost of revenues	16,816			18,620				47,847	52,742
Equipment Rentals [Member] | Rental Depreciation [Member]
Cost of revenues:
Cost of revenues	58,083			63,065				177,225	181,647
Equipment Rentals [Member] | Rental Expense [Member]
Cost of revenues:
Cost of revenues	25,628			27,889				74,461	79,676
Equipment Rentals [Member] | Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Revenues:
Revenues	142,046			176,338				429,040	495,246
Cost of revenues:
Cost of revenues	86,703			94,209				258,979	270,122
Gross profit (loss):
Gross profit	55,343			82,129				170,061	225,124
Equipment Rentals [Member] | Reportable Legal Entities [Member] | H & E Equipment Services [Member] | Rentals Other [Member]
Cost of revenues:
Cost of revenues	14,141			15,505				40,376	44,500
Equipment Rentals [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenues:
Revenues	23,803			27,794				67,122	77,317
Cost of revenues:
Cost of revenues	13,824			15,365				40,554	43,943
Gross profit (loss):
Gross profit	9,979			12,429				26,568	33,374
Equipment Rentals [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Rentals Other [Member]
Cost of revenues:
Cost of revenues	2,675			3,115				7,471	8,242
Equipment Rentals [Member] | Reportable Legal Entities [Member] | Rental Depreciation [Member] | H & E Equipment Services [Member]
Cost of revenues:
Cost of revenues	50,333			54,757				153,870	157,380
Equipment Rentals [Member] | Reportable Legal Entities [Member] | Rental Depreciation [Member] | Guarantor Subsidiaries [Member]
Cost of revenues:
Cost of revenues	7,750			8,308				23,355	24,267
Equipment Rentals [Member] | Reportable Legal Entities [Member] | Rental Expense [Member] | H & E Equipment Services [Member]
Cost of revenues:
Cost of revenues	22,229			23,947				64,733	68,242
Equipment Rentals [Member] | Reportable Legal Entities [Member] | Rental Expense [Member] | Guarantor Subsidiaries [Member]
Cost of revenues:
Cost of revenues	3,399			3,942				9,728	11,434
New Equipment Sales [Member]
Revenues:
Revenues	37,248			65,010				112,068	177,709
Cost of revenues:
Cost of revenues	33,124			57,475				99,809	156,638
Gross profit (loss):
Gross profit	4,124			7,535				12,259	21,071
New Equipment Sales [Member] | Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Revenues:
Revenues	36,315			60,584				107,813	160,200
Cost of revenues:
Cost of revenues	32,362			53,542				96,184	141,181
Gross profit (loss):
Gross profit	3,953			7,042				11,629	19,019
New Equipment Sales [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenues:
Revenues	933			4,426				4,255	17,509
Cost of revenues:
Cost of revenues	762			3,933				3,625	15,457
Gross profit (loss):
Gross profit	171			493				630	2,052
Used Equipment Sales [Member]
Revenues:
Revenues	40,000			31,180				105,231	96,942
Cost of revenues:
Cost of revenues	27,872			21,409				71,592	63,742
Gross profit (loss):
Gross profit	12,128			9,771				33,639	33,200
Used Equipment Sales [Member] | Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Revenues:
Revenues	35,465			25,850				91,918	81,430
Cost of revenues:
Cost of revenues	24,952			17,958				63,241	53,791
Gross profit (loss):
Gross profit	10,513			7,892				28,677	27,639
Used Equipment Sales [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenues:
Revenues	4,535			5,330				13,313	15,512
Cost of revenues:
Cost of revenues	2,920			3,451				8,351	9,951
Gross profit (loss):
Gross profit	1,615			1,879				4,962	5,561
Parts Sales [Member]
Revenues:
Revenues	27,853			31,499				83,842	93,798
Cost of revenues:
Cost of revenues	20,925			23,171				62,180	68,750
Gross profit (loss):
Gross profit	6,928			8,328				21,662	25,048
Parts Sales [Member] | Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Revenues:
Revenues	25,336			27,284				74,847	81,326
Cost of revenues:
Cost of revenues	19,164			20,150				55,836	59,962
Gross profit (loss):
Gross profit	6,172			7,134				19,011	21,364
Parts Sales [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenues:
Revenues	2,517			4,215				8,995	12,472
Cost of revenues:
Cost of revenues	1,761			3,021				6,344	8,788
Gross profit (loss):
Gross profit	756			1,194				2,651	3,684
Services Revenues [Member]
Revenues:
Revenues	15,637			18,105				48,116	50,398
Cost of revenues:
Cost of revenues	5,198			5,898				15,911	16,261
Gross profit (loss):
Gross profit	10,439			12,207				32,205	34,137
Services Revenues [Member] | Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Revenues:
Revenues	14,186			15,614				42,429	42,922
Cost of revenues:
Cost of revenues	4,752			5,131				14,119	13,971
Gross profit (loss):
Gross profit	9,434			10,483				28,310	28,951
Services Revenues [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenues:
Revenues	1,451			2,491				5,687	7,476
Cost of revenues:
Cost of revenues	446			767				1,792	2,290
Gross profit (loss):
Gross profit	1,005			1,724				3,895	5,186
Other [Member]
Revenues:
Revenues	2,673			3,071				8,099	8,822
Other [Member] | Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Revenues:
Revenues	2,356			2,590				6,944	7,422
Other [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenues:
Revenues	317			481				1,155	1,400
Other [Member]
Cost of revenues:
Cost of revenues	2,547			3,342				7,873	10,167
Other [Member] | Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Cost of revenues:
Cost of revenues	2,331			2,977				7,011	8,963
Other [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Cost of revenues:
Cost of revenues	216			365				862	1,204
Other Gross Profit
Gross profit (loss):
Gross profit	126			(271)				226	(1,345)
Other Gross Profit | Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Gross profit (loss):
Gross profit	25			(387)				(67)	(1,541)
Other Gross Profit | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Gross profit (loss):
Gross profit	$ 101			$ 116				$ 293	$ 196

Condensed Consolidating Finan_5

Condensed Consolidating Financial Information of Guarantor Subsidiaries - Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Cash flows from operating activities:
Net income (loss)				$ (18,050)	$ 65,288
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization on property and equipment				22,288	20,841
Depreciation of rental equipment				177,225	181,647
Amortization of finance lease right-of-use assets				121	122
Amortization of intangible assets				2,996	3,091
Amortization of deferred financing costs				755	757
Accretion of note discount, net of premium amortization				358	357
Non-cash operating lease expense				10,619	8,021
Impairment of goodwill				61,994
Provision for losses on accounts receivable				3,340	4,059
Provision for inventory obsolescence				95	152
Change in deferred income taxes				(1,374)	22,127
Stock-based compensation expense				3,295	3,060
Gain from sales of property and equipment, net	$ (2,102)		$ (718)	(9,260)	(2,339)
Gain from sales of rental equipment, net				(33,102)	(32,780)
Changes in operating assets and liabilities, net of acquisitions:
Receivables				21,269	(2,045)
Inventories				(7,712)	(39,631)
Prepaid expenses and other assets				(1,355)	(3,098)
Accounts payable				11,549	(16,871)
Manufacturer flooring plans payable				(13,555)	2,259
Accrued expenses payable and other liabilities				(14,478)	(7,492)
Deferred compensation payable				75	82
Net cash provided by operating activities				217,093	207,607
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired					(106,746)
Purchases of property and equipment				(17,283)	(31,451)
Purchases of rental equipment				(81,426)	(269,150)
Proceeds from sales of property and equipment				12,688	3,085
Proceeds from sales of rental equipment				96,797	89,105
Net cash provided by (used in) investing activities				10,776	(315,157)
Cash flows from financing activities:
Borrowings on senior secured credit facility				729,810	1,174,120
Payments on senior secured credit facility				(928,703)	(1,040,750)
Dividends paid				(29,668)	(29,530)
Purchases of treasury stock				(1,376)	(1,640)
Payments of deferred financing costs					(559)
Payments of finance lease obligations				(182)	(172)
Net cash provided by (used in) financing activities				(230,119)	101,469
Net decrease in cash				(2,250)	(6,081)
Cash, beginning of period		$ 10,596		14,247	16,677	$ 16,677
Cash, end of period	11,997	14,247	10,596	11,997	10,596	14,247
Reportable Legal Entities [Member] | H & E Equipment Services [Member]
Cash flows from operating activities:
Net income (loss)				(18,050)	65,288
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization on property and equipment				18,672	18,367
Depreciation of rental equipment				153,870	157,380
Amortization of intangible assets				2,996	3,091
Amortization of deferred financing costs				755	757
Accretion of note discount, net of premium amortization				358	357
Non-cash operating lease expense				8,495	6,417
Impairment of goodwill				61,994
Provision for losses on accounts receivable				3,143	3,869
Provision for inventory obsolescence				95	152
Change in deferred income taxes				(1,374)	22,127
Stock-based compensation expense				3,295	3,060
Gain from sales of property and equipment, net	(1,852)		(686)	(8,122)	(1,948)
Gain from sales of rental equipment, net				(28,175)	(27,234)
Equity in earnings of guarantor subsidiaries	(2,226)		(4,701)	(3,904)	(10,656)
Changes in operating assets and liabilities, net of acquisitions:
Receivables				14,965	(9,639)
Inventories				(7,115)	(40,006)
Prepaid expenses and other assets				(1,315)	(3,052)
Accounts payable				10,830	(15,472)
Manufacturer flooring plans payable				(13,555)	2,760
Accrued expenses payable and other liabilities				(11,785)	(7,914)
Deferred compensation payable				75	82
Net cash provided by operating activities				186,148	167,786
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired					(106,746)
Purchases of property and equipment				(14,771)	(27,236)
Purchases of rental equipment				(71,756)	(237,436)
Proceeds from sales of property and equipment				11,021	2,651
Proceeds from sales of rental equipment				83,685	73,966
Investment in subsidiaries				33,355	19,344
Net cash provided by (used in) investing activities				41,534	(275,457)
Cash flows from financing activities:
Borrowings on senior secured credit facility				729,810	1,174,120
Payments on senior secured credit facility				(928,703)	(1,040,750)
Dividends paid				(29,663)	(29,525)
Purchases of treasury stock				(1,376)	(1,640)
Payments of deferred financing costs					(559)
Payments of finance lease obligations					(56)
Net cash provided by (used in) financing activities				(229,932)	101,590
Net decrease in cash				(2,250)	(6,081)
Cash, beginning of period		10,596		14,247	16,677	16,677
Cash, end of period	11,997	$ 14,247	10,596	11,997	10,596	$ 14,247
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income (loss)				3,904	10,656
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization on property and equipment				3,616	2,474
Depreciation of rental equipment				23,355	24,267
Amortization of finance lease right-of-use assets				121	122
Non-cash operating lease expense				2,124	1,604
Provision for losses on accounts receivable				197	190
Gain from sales of property and equipment, net	(250)		(32)	(1,138)	(391)
Gain from sales of rental equipment, net				(4,927)	(5,546)
Changes in operating assets and liabilities, net of acquisitions:
Receivables				6,304	7,594
Inventories				(597)	375
Prepaid expenses and other assets				(40)	(46)
Accounts payable				719	(1,399)
Manufacturer flooring plans payable					(501)
Accrued expenses payable and other liabilities				(2,693)	422
Net cash provided by operating activities				30,945	39,821
Cash flows from investing activities:
Purchases of property and equipment				(2,512)	(4,215)
Purchases of rental equipment				(9,670)	(31,714)
Proceeds from sales of property and equipment				1,667	434
Proceeds from sales of rental equipment				13,112	15,139
Net cash provided by (used in) investing activities				2,597	(20,356)
Cash flows from financing activities:
Dividends paid				(5)	(5)
Payments of finance lease obligations				(182)	(116)
Capital contributions				(33,355)	(19,344)
Net cash provided by (used in) financing activities				(33,542)	(19,465)
Elimination [Member]
Cash flows from operating activities:
Net income (loss)				(3,904)	(10,656)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in earnings of guarantor subsidiaries	$ 2,226		$ 4,701	3,904	10,656
Cash flows from investing activities:
Investment in subsidiaries				(33,355)	(19,344)
Net cash provided by (used in) investing activities				(33,355)	(19,344)
Cash flows from financing activities:
Capital contributions				33,355	19,344
Net cash provided by (used in) financing activities				$ 33,355	$ 19,344