H&E Equipment Services (HEES) 10-Q 2 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Oct. 26, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Trading Symbol	HEES
Entity Registrant Name	H&E Equipment Services, Inc.
Entity Central Index Key	0001339605
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		36,143,039
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity File Number	000-51759
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-0553291
Entity Address, Address Line One	7500 Pecue Lane
Entity Address, City or Town	Baton Rouge
Entity Address, State or Province	LA
Entity Address, Postal Zip Code	70809
City Area Code	225
Local Phone Number	298-5200
Document Transition Report	false
Document Quarterly Report	true

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
ASSETS
Cash	$ 235,024	$ 310,882
Receivables, net of allowance for doubtful accounts of $4,637 and $4,489, respectively	157,576	150,502
Inventories, net of reserves for obsolescence of $281 and $230, respectively	65,620	41,890
Prepaid expenses and other assets	15,652	10,293
Rental equipment, net of accumulated depreciation of $696,445 and $667,445, respectively	1,112,056	989,423
Property and equipment, net of accumulated depreciation and amortization of $158,998 and $145,422, respectively	109,575	108,919
Operating lease right-of-use assets, net of accumulated amortization of $35,065 and $23,268, respectively	153,677	152,662
Finance lease right-of-use assets, net of accumulated amortization of $2,335 and $2,213, respectively	81	203
Deferred financing costs, net of accumulated amortization of $15,644 and $15,119, respectively	1,633	2,157
Intangible assets, net of accumulated amortization of $13,717 and $10,939, respectively	25,983	28,961
Goodwill	63,137	63,137
Assets held for sale	110,900	121,455
Total assets	2,050,914	1,980,484
Liabilities:
Accounts payable	85,527	75,262
Manufacturer flooring plans payable	17,543	9,615
Accrued expenses payable and other liabilities	88,609	67,120
Dividends payable	108	155
Senior unsecured notes, net of unaccreted discount of $8,444 and $9,323 and deferred financing costs of $1,950 and $2,017, respectively	1,239,606	1,238,660
Operating lease right-of-use liabilities	157,537	156,282
Finance lease right-of-use liabilities	111	305
Deferred income taxes	185,455	171,010
Liabilities held for sale	16,995	23,842
Total liabilities	1,791,491	1,742,251
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; 40,354,671 and 40,242,711 shares issued at September 30, 2021 and December 31, 2020, respectively, and 36,143,039 and 36,092,555 shares outstanding at September 30, 2021 and December 31, 2020, respectively	403	401
Additional paid-in capital	243,806	240,206
Treasury stock at cost, 4,211,632 and 4,150,156 shares of common stock held at September 30, 2021 and December 31, 2020, respectively	(68,293)	(66,188)
Retained earnings	83,507	63,814
Total stockholders’ equity	259,423	238,233
Total liabilities and stockholders’ equity	$ 2,050,914	$ 1,980,484

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts receivables	$ 4,637	$ 4,489
Reserves for obsolescence inventories	281	230
Accumulated depreciation, rental equipment	696,445	667,445
Accumulated depreciation and amortization, property and equipment	158,998	145,422
Accumulated amortization, operating lease right-of-use assets	35,065	23,268
Accumulated amortization, financing lease right-of-use assets	2,335	2,213
Accumulated amortization, deferred financing costs	15,644	15,119
Accumulated amortization, intangible assets	13,717	10,939
Unaccreted discount, net	8,444	9,323
Deferred financing costs	$ 1,950	$ 2,017
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	40,354,671	40,242,711
Common stock, shares outstanding	36,143,039	36,092,555
Treasury stock, shares	4,211,632	4,150,156

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues:
Revenues	$ 275,436	$ 251,913	$ 781,545	$ 739,255
Cost of revenues:
Cost of revenues	161,528	163,904	484,405	476,309
Gross profit	113,908	88,009	297,140	262,946
Selling, general and administrative expenses	74,403	64,540	213,259	200,442
Impairment of goodwill				55,664
Merger and other	9	150	115	308
Gain on sales of property and equipment, net	6,166	2,047	6,951	6,818
Income from operations	45,662	25,366	90,717	13,350
Other income (expense):
Interest expense	(13,430)	(14,887)	(40,298)	(46,489)
Other, net	615	989	2,026	2,256
Total other expense, net	(12,815)	(13,898)	(38,272)	(44,233)
Income (loss) from continuing operations before provision (benefit) for income taxes	32,847	11,468	52,445	(30,883)
Provision (benefit) for income taxes	8,119	3,485	13,611	(5,820)
Net income (loss) from continuing operations	24,728	7,983	38,834	(25,063)
Discontinued Operations:
Income from discontinued operations before provision for income taxes	6,411	5,614	14,246	12,709
Provision for income taxes	1,602	3,494	3,626	5,696
Net income from discontinued operations	4,809	2,120	10,620	7,013
Net income (loss)	$ 29,537	$ 10,103	$ 49,454	$ (18,050)
Net income (loss) from continuing operations per common share:
Basic	$ 0.68	$ 0.22	$ 1.07	$ (0.70)
Diluted	0.68	0.22	1.07	(0.70)
Net income from discontinued operations per common share:
Basic	0.13	0.06	0.29	0.19
Diluted	0.13	0.06	0.29	0.19
Net income (loss) per common share:
Basic	0.81	0.28	1.36	(0.50)
Diluted	$ 0.81	$ 0.28	$ 1.36	$ (0.50)
Weighted average common shares outstanding:
Basic	36,296	36,110	36,232	36,035
Diluted	36,436	36,249	36,420	36,035
Dividends declared per common share outstanding	$ 0.275	$ 0.275	$ 0.825	$ 0.825
Equipment Rentals [Member]
Cost of revenues:
Cost of revenues	$ 107,175	$ 97,515	$ 304,599	$ 290,353
Equipment Rentals [Member] | Rentals Other [Member]
Cost of revenues:
Cost of revenues	20,510	16,537	55,394	46,883
Equipment Rentals [Member] | Rental Depreciation [Member]
Cost of revenues:
Cost of revenues	58,339	55,972	168,305	170,900
Equipment Rentals [Member] | Rental Expense [Member]
Cost of revenues:
Cost of revenues	28,326	25,006	80,900	72,570
New Equipment Sales [Member]
Cost of revenues:
Cost of revenues	16,946	24,769	61,576	71,198
Parts Sales [Member]
Cost of revenues:
Cost of revenues	13,209	12,054	36,715	36,508
Used Equipment Sales [Member]
Cost of revenues:
Cost of revenues	19,383	25,204	68,426	64,119
Services Revenues [Member]
Cost of revenues:
Cost of revenues	3,000	2,756	8,193	8,695
Other [Member]
Cost of revenues:
Cost of revenues	1,815	1,606	4,896	5,436
Equipment Rentals [Member]
Revenues:
Revenues	197,184	161,461	526,014	481,563
New Equipment Sales [Member]
Revenues:
Revenues	19,355	27,827	70,161	79,957
Used Equipment Sales [Member]
Revenues:
Revenues	31,071	36,216	105,746	94,890
Parts Sales [Member]
Revenues:
Revenues	17,503	16,291	49,939	50,197
Services Revenues [Member]
Revenues:
Revenues	8,624	8,489	24,694	27,245
Other [Member]
Revenues:
Revenues	$ 1,699	$ 1,629	$ 4,991	$ 5,403

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income (loss)	$ 49,454	$ (18,050)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization of property and equipment	20,661	22,288
Depreciation of rental equipment	172,025	177,225
Amortization of finance lease right-of-use assets	122	121
Amortization of intangible assets	2,978	2,996
Amortization of deferred financing costs	729	755
Accretion of note discount, net of premium amortization	879	358
Non-cash operating lease expense	11,145	10,619
Impairment of goodwill		61,994
Provision for losses on accounts receivable	1,200	3,340
Provision for inventory obsolescence	54	95
Change in deferred income taxes	14,445	(1,374)
Stock-based compensation expense	3,600	3,295
Gain from sales of property and equipment, net	(7,000)	(9,260)
Gain from sales of rental equipment, net	(39,274)	(33,102)
Changes in operating assets and liabilities:
Receivables	3,210	21,269
Inventories	(46,684)	(7,712)
Prepaid expenses and other assets	(5,494)	(1,355)
Accounts payable	1,132	11,549
Manufacturer flooring plans payable	7,928	(13,555)
Accrued expenses payable and other liabilities	10,954	(14,478)
Deferred compensation payable		75
Net cash provided by operating activities	202,064	217,093
Cash flows from investing activities:
Purchases of property and equipment	(24,723)	(17,283)
Purchases of rental equipment	(338,463)	(81,426)
Proceeds from sales of property and equipment	11,014	12,688
Proceeds from sales of rental equipment	106,494	96,797
Net cash provided by (used in) investing activities	(245,678)	10,776
Cash flows from financing activities:
Borrowings on senior secured credit facility	962,358	729,810
Payments on senior secured credit facility	(962,358)	(928,703)
Dividends paid	(29,809)	(29,668)
Purchases of treasury stock	(2,105)	(1,376)
Payments of deferred financing costs	(136)
Payments of finance lease obligations	(194)	(182)
Net cash used in financing activities	(32,244)	(230,119)
Net decrease in cash	(75,858)	(2,250)
Cash, beginning of period	310,882	14,247
Cash, end of period	235,024	11,997
Noncash asset purchases:
Assets transferred from new and used inventory to rental fleet	18,497	20,224
Purchases of property and equipment included in accrued expenses payable and other liabilities	(9)	(42)
Operating lease assets obtained in exchange for new operating lease liabilities	14,201	18,208
Cash paid during the period for:
Interest	26,728	59,304
Income taxes paid (refunds received), net	$ 2,224	$ (354)

Organization and Nature of Oper

Organization and Nature of Operations	9 Months Ended
	Sep. 30, 2021
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, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021, 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, 2020, from which the consolidated balance sheet amounts as of December 31, 2020 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. During the third quarter of 2021, the Company agreed to sell its crane business, (the “Crane Sale”). The results of operations of the Crane Sale are reported in discontinued operations in the Condensed Consolidated Statements of Operations for all periods presented and the related assets and liabilities associated with discontinued operations are classified as held for sale in the Condensed Consolidated Balance Sheet as of September 30, 2021. The Condensed Consolidated Statements of Cash Flows includes cash flows related to the discontinued operations and accordingly, cash flow amounts for discontinued operations are disclosed in Note 3 “Divestitures”. All results and information in the consolidated financial statements are presented as continuing operations and exclude the Crane Sale unless otherwise noted specifically as discontinued operations. For additional information, refer to Note 3. The nature of our business is such that short-term obligations are typically met by cash flows generated from long-term assets. Consequently, and consistent with industry practice, the accompanying condensed consolidated balance sheets are presented on an unclassified basis. Nature of Operations Founded in 1961, H&E Equipment Services, Inc. is one of the largest rental equipment companies in the nation, serving customers across 24 states. The Company’s fleet is among the industry’s youngest and most versatile with a superior equipment mix comprised of aerial work platforms, earthmoving, material handling, and other general and specialty lines. H&E serves a diverse set of end markets in many high-growth geographies including branches throughout the Pacific Northwest, West Coast, Intermountain, Southwest, Gulf Coast States, Southeast, and Mid-Atlantic regions. 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 subsequent spread of COVID-19 during 2020 and the resulting economic contraction resulted in increased business uncertainty in our industry. As the impact of COVID-19 became more widespread, our equipment rental utilization and sales volumes began to decline from February 2020 levels through mid-April 2020, where we began to see utilization and sales levels stabilize and improve for the remainder of 2020. We continue to see overall improvements with utilization levels beginning in March 2021 returning to approximate pre-COVID utilization levels. The timing and extent of any subsequent contraction in our equipment rental utilization and sales volumes due to COVID-19 will depend on a number of factors, including a widespread resurgence in COVID-19 infections, the rate of vaccinations, a global supply chain disruption, the impact to capital and financial markets and the related impact on our customers. We remain focused on the safety and well-being of our employees, customers and communities as we maintain a high-le vel of service to our customers .

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
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, 2020. During the three and nine month periods ended September 30, 2021, 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. In the table below, revenues as presented in our condensed consolidated statements of operations for the three and nine month periods ended September 30, 2021 and 2020 are summarized by type and by the applicable accounting standard. Three Months Ended September 30, 2021 2020 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 166,847 $ 75 $ 166,922 $ 138,765 $ 75 $ 138,840 Re-rent revenue 9,733 — 9,733 6,469 — 6,469 Ancillary and other rental revenues: Delivery and pick-up — 11,005 11,005 — 9,161 9,161 Other 9,524 — 9,524 6,991 — 6,991 Total ancillary rental revenues 9,524 11,005 20,529 6,991 9,161 16,152 Total equipment rental revenues 186,104 11,080 197,184 152,225 9,236 161,461 Used equipment sales — 31,071 31,071 — 36,216 36,216 New equipment sales — 19,355 19,355 — 27,827 27,827 Parts sales — 17,503 17,503 — 16,291 16,291 Service revenues — 8,624 8,624 — 8,489 8,489 Other — 1,699 1,699 — 1,629 1,629 Total revenues $ 186,104 $ 89,332 $ 275,436 $ 152,225 $ 99,688 $ 251,913 Nine Months Ended September 30, 2021 2020 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 444,203 $ 239 $ 444,442 $ 418,798 $ 316 $ 419,114 Re-rent revenue 26,570 — 26,570 16,071 — 16,071 Ancillary and other rental revenues: Delivery and pick-up — 29,487 29,487 — 26,890 26,890 Other 25,515 — 25,515 19,488 — 19,488 Total ancillary rental revenues 25,515 29,487 55,002 19,488 26,890 46,378 Total equipment rental revenues 496,288 29,726 526,014 454,357 27,206 481,563 Used equipment sales — 105,746 105,746 — 94,890 94,890 New equipment sales — 70,161 70,161 — 79,957 79,957 Parts sales — 49,939 49,939 — 50,197 50,197 Service revenues — 24,694 24,694 — 27,245 27,245 Other — 4,991 4,991 — 5,403 5,403 Total revenues $ 496,288 $ 285,257 $ 781,545 $ 454,357 $ 284,898 $ 739,255 Revenues by reporting segment are presented in note 11 of our condensed consolidated financial statements, using the revenue captions reflected in our consolidated statements of operations. We believe that the disaggregation of our revenues from contracts to customers as reflected above, coupled with further discussion below and the reporting segments in note 11, depict how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors. For further information related to our accounting for revenues pursuant to Topic 606 and Topic 842, see Significant Accounting Policies in note 2 of the notes to consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2020. Receivables and contract assets and liabilities We manage credit risk associated with our accounts receivables at the customer level. Because the same customers typically generate the revenues that are accounted for under both Topic 606 and Topic 842, the discussions below on credit risk and our allowance for doubtful accounts address our total revenues from Topic 606 and Topic 842. We believe concentration of credit risk with respect to our receivables is limited because our customer base is comprised of a large number of geographically diverse customers. No single customer accounted for more than 10% of our revenues on an overall or segment basis for any of the periods presented in this Quarterly Report on Form 10-Q. We manage credit risk through credit approvals, credit limits and other monitoring procedures. Pursuant to Topic 842 and Topic 326 for rental and non-rental receivables, respectively, we maintain an allowance for doubtful accounts that reflects our estimate of our expected credit losses. Our allowance is estimated using a loss rate model based on delinquency. The estimated loss rate is based on our historical experience with specific customers, our understanding of our current economic circumstances, reasonable and supportable forecasts, and our own judgment as to the likelihood of ultimate payment based upon available data. Our largest exposure to doubtful accounts is in our rental operations. We perform credit evaluations of customers and establish credit limits based on reviews of our customers’ current credit information and payment histories. We believe our credit risk is somewhat mitigated by our geographically diverse customer base and our credit evaluation procedures. The actual rate of future credit losses, however, may not be similar to past experience. Our estimate of doubtful accounts could change based on changing circumstances, including changes in the economy or in the particular circumstances of individual customers. Accordingly, we may be required to increase or decrease our allowance for doubtful accounts. We do not have material contract assets, impairment losses associated therewith, or material contract liabilities associated with contracts with customers. Our contracts with customers do not generally result in material amounts billed to customers in excess of recognizable revenue. We did not recognize material revenues during the three and nine month periods ended September 30, 2021 or 2020 that was included in the contract liability balance as of the beginning of such periods. Held for Sale The Company considers assets to be held for sale when management, with appropriate authority, approves and commits to a formal plan to sell the assets at a price reasonable in relation to their estimated fair value, the assets are available for immediate sale in their present condition, the sale of the assets is probable and expected to be completed in one year and it is unlikely that significant changes will be made to the plan. Upon designation as held for sale, the Company records the assets at the lower of their carrying value or their estimated fair value, reduced for the cost to dispose the assets, and ceases to record depreciation and amortization expenses on the assets. Discontinued Operations In determining whether a group of assets which has been disposed of (or is to be disposed of) should be presented as discontinued operations, the Company analyzes whether the group of assets being disposed of represents a component of the entity. A component typically has historic operations and cash flows that are clearly distinguishable for both operations and financial reporting purposes. In addition, the Company considers whether the disposal represents a strategic shift that has or will have a major effect on the Company’s operations and financial results. This strategic shift could include a disposal of a major geographical area, a major line of business, a major equity method investment, or other major parts of an entity. The Company reports financial results for discontinued operations separately from continuing operations to distinguish the financial impact of disposal transactions from ongoing operations. The assets and liabilities of a discontinued operation held for sale, other than goodwill, are measured at the lower of its carrying amount or fair value less cost to sell. When a portion of a reporting unit that constitutes a business is to be disposed of, the goodwill associated with that business is included in the carrying amount of the business based on the relative fair values of the business to be disposed of and the portion of the reporting unit that will be retained. See Note 3 for additional information. Goodwill 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, resulting in an impairment charge to our Equipment Rental Component 2 reporting unit. For additional information related to our goodwill impairment charge in the first quarter of 2020, please see footnote 2 to the Company’s consolidated financial statements included as Item 8 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. There were no changes in the carrying amount of goodwill for our reporting units for the period ended September 30, 2021. The change to the carrying amount of goodwill for the period ended December 31, 2020 is as follows (amounts in thousands): Eq. Rental Comp. 1 Eq. Rental Comp. 2 Used Eq. Sales New Eq. Sales Parts Sales Service Revenues Total Balance at December 31, 2019 $ 49,215 $ 55,981 $ 8,455 $ — $ 5,747 $ — $ 119,398 Decreases (1) (239 ) (317 ) (8 ) — (33 ) — (597 ) Decreases (2) — (55,664 ) — — — — (55,664 ) Balance at December 31, 2020 $ 48,976 $ — $ 8,447 $ — $ 5,714 $ — $ 63,137 (1) 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. (2) Decrease is related to the goodwill impairment calculated as of March 31, 2020. Recent Accounting Pronouncements Pronouncements Not Yet Adopted 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. We intend to continue to monitor the developments with respect to the planned phase-out out of LIBOR and work with our lenders to seek to ensure any transition away from LIBOR will have minimal impact on our financial condition. However, we can provide no assurances regarding the impact of the discontinuation of LIBOR as there can be no assurances as to whether such replacement or alternative base rate will be more or less favorable than LIBOR. Our exposure related to the expected cessation of LIBOR is limited to the interest expense we incur on balances outstanding under our Senior Secured Credit Facility (the “Credit Facility”). We amended our credit facility on September 14, 2021 to include benchmark language for a transition away from LIBOR. The potential impact from the cessation of LIBOR as a reference rate, as well as the applicability of ASU 2020-04, is not currently estimable. Pronouncements Adopted in 2021 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. The Company adopted ASU 2019-12 on January 1, 2021 and the adoption did not have a material impact on our condensed consolidated financial statements presented herein .

Divestitures

Divestitures	9 Months Ended
	Sep. 30, 2021
Discontinued Operations And Disposal Groups [Abstract]
Divestitures	(3) Divestitures Crane Sale On July 19, 2021, the Company entered into a definitive agreement to sell its crane business to a wholly-owned subsidiary of The Manitowoc Company, Inc. for $130 million in cash, subject to adjustment based on actual amounts of net working capital and crane rental fleet net book value delivered at transaction closing. This sale represents the Company’s strategic shift to a pure-play rental business. In accordance with ASC 360, Property, Plant, and Equipment, the Company ceased recording depreciation and amortization for Crane Sale related rental fleet, property, plant and equipment, and right of use lease assets upon qualifying as held for sale. In accordance with ASC 205-20, the Company determined that discontinued operations presentation were met during the third quarter of fiscal year 2021. As part of the divestiture, we entered into a transition services agreement with the buyer to assist them in the transition of certain functions, including, but not limited to, information technology, accounting and human resources for a period of sixty days up to six months. Aside from these customary transition services, there will be no continuing involvement with the crane business after its disposal. The Company reports financial results of the crane business within all of our segments: equipment rentals, used equipment sales, new equipment sales, parts sales and service revenues. Additionally, the crane business is included within five of our six goodwill reporting units: equipment rental component 2, used equipment sales, new equipment sales, parts sales and service revenues. The Company executed the transaction closing on October 1, 2021, subject to customary closing conditions, including regulatory approval under the Hart-Scott-Rodino Act. The Company will record a gain on the Crane Sale during the fourth quarter of 2021. As a result of the agreement to sell its crane business, its results are reported separately as discontinued operations in our condensed consolidated statements of operations for all periods presented and its assets and liabilities have been presented in our condensed consolidated balance sheets as assets and liabilities held for sale. As permitted, the Company elected not to adjust the condensed consolidated statements of cash flows for the nine months ended September 30, 2021 and 2020 to exclude cash flows attributable to discontinued operations. Accordingly, we disclosed the depreciation, capital expenditures and significant operating and investing non-cash items related to the Crane Sale below. The following tables (amounts in thousands) present the Crane Sale results as reported in income from discontinued operations within our condensed consolidated statements of operations and the carrying value of assets and liabilities as presented within assets and liabilities held for sale on our condensed consolidated balance sheets. The amounts presented below are preliminary and are subject to change. Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Revenues: Equipment rentals $ 3,890 $ 4,388 $ 10,321 $ 14,599 Used equipment sales 3,096 3,784 11,545 10,341 New equipment sales 15,428 9,421 52,286 32,111 Parts sales 12,668 11,562 33,268 33,645 Services revenues 7,438 7,148 20,855 20,871 Other 1,411 1,044 3,755 2,696 Total revenues 43,931 37,347 132,030 114,263 Cost of revenues: Rental depreciation — 2,111 3,720 6,325 Rental expense 752 622 1,947 1,891 Rental other 430 279 1,000 964 1,182 3,012 6,667 9,180 Used equipment sales 2,383 2,668 8,713 7,473 New equipment sales 13,737 8,355 46,725 28,611 Parts sales 9,691 8,871 25,288 25,672 Services revenues 2,474 2,442 6,767 7,216 Other 898 941 3,168 2,437 Total cost of revenues 30,365 26,289 97,328 80,589 Gross profit 13,566 11,058 34,702 33,674 Selling, general and administrative expenses 6,769 5,500 18,872 17,083 Impairment of goodwill — — — 6,330 Merger and other 384 — 1,695 — Gain on sales of property and equipment, net — 55 49 2,442 Income from discontinued operations 6,413 5,613 14,184 12,703 Other, net (2 ) 1 62 6 Income before provision for income taxes 6,411 5,614 14,246 12,709 Provision for income taxes 1,602 3,494 3,626 5,696 Net income from discontinued operations $ 4,809 $ 2,120 $ 10,620 $ 7,013 Balances at September 30, December 31, 2021 2020 (Unaudited) Assets: Receivables, net of allowance for doubtful accounts of $252 and $252, respectively $ 16,872 $ 28,356 Inventories, net of reserves for obsolescence of $116 and $120, respectively 35,001 30,598 Prepaid expenses and other assets 86 86 Rental equipment, net of accumulated depreciation of $29,076 and $34,143, respectively 34,405 39,322 Property and equipment, net of accumulated depreciation and amortization of $14,288 and $13,381, respectively 7,223 7,821 Operating lease right-of-use assets, net of accumulated amortization of $706 and $652, respectively 11,599 9,558 Goodwill (1) 5,714 5,714 Total assets held for sale $ 110,900 $ 121,455 Liabilities: Accounts payable $ 4,899 $ 14,033 Accrued expenses payable and other liabilities 200 170 Operating lease right-of-use liabilities 11,896 9,639 Total liabilities held for sale $ 16,995 $ 23,842 (1) We have allocated $5.7 million of goodwill in the following two reporting units to the crane product line based on the relative fair value of the crane product line and the portion of the reporting units that will be retained. The allocation is as follows (amounts in thousands): Used Equipment $ 506 Parts 5,208 $ 5,714 Cash flows from discontinued operations was as follows (amounts in thousands): Nine Months Ended September 30, 2021 2020 Operating activities of discontinued operations: Depreciation and amortization of property and equipment $ 1,083 $ 1,715 Depreciation of rental equipment 3,720 6,325 Gain from sales of property and equipment, net (49 ) (2,442 ) Gain from sales of rental equipment, net (2,203 ) (2,634 ) Investing activities of discontinued operations: Purchases of rental equipment (2,431 ) (7,624 ) Proceeds from sales of property and equipment 43 4,781 Proceeds from sales of rental equipment 5,929 6,965 Arkansas Sale On September 17, 2021, the Company sold our Little Rock, Arkansas and Springdale, Arkansas owned-branches to Bramco, Inc. (“Bramco”) for $9.0 million (the “Arkansas Sale”). The Arkansas Sale includes the land, building, building improvements, office equipment, furniture and fixtures, and shop equipment for the two branches with a current net book value of approximately $3.7 million. As a condition of closing, we relinquished our territory distribution rights with equipment manufacturers Komatsu, Wirtgen Group and Takeuchi. Our current distribution territory for these two branches includes the entire state of Arkansas, with the exception of five counties in southeast Arkansas (Miller, Lafayette, Columbia, Union and Little River). These five excluded counties are currently served by our Shreveport, Louisiana branch and we have no intention in the foreseeable future of relinquishing the Louisiana distribution territory. The Arkansas Sale does not qualify for discontinued operations as the divestiture does not meet the definition of a component. The Company has purchased a site in Little Rock, Arkansas to operate a rental-focused branch location in the area. The branch opening coincided with the sale to Bramco.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2021
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, receivables, 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, 2021 and December 31, 2020 are presented in the table below (amounts in thousands). September 30, 2021 Carrying Amount Fair Value Manufacturer flooring plans payable with interest computed at 3.5% (Level 3) $ 17,543 $ 15,823 Senior unsecured notes due 2028 with interest computed at 3.875% (Level 2) 1,239,606 1,247,975 December 31, 2020 Carrying Amount Fair Value Manufacturer flooring plans payable with interest computed at 3.5% (Level 3) $ 9,615 $ 8,976 Senior unsecured notes due 2028 with interest computed at 3.875% (Level 2) 1,238,660 1,259,413 At September 30, 2021 and December 31, 2020, the fair value of our senior unsecured notes due 2028 was based on quoted bond trading market prices for those notes. For our Level 3 unobservable inputs, we calculate a discount rate for our manufacturing floor plans payable based on the U.S. prime rate plus the applicable margin on our Senior Secured Credit Facility. The discount rate is disclosed in the above table. During the three and nine month periods ended September 30, 2021 and 2020, there were no transfers of financial assets or liabilities in or out of Level 3 of the fair value hierarchy.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Stockholders' Equity	(5) Stockholders’ Equity The following table summarizes the quarterly activity in Stockholders’ Equity for the periods ended September 30, 2021 and 2020, 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, 2020 40,242,711 $ 401 $ 240,206 $ (66,188 ) $ 63,814 $ 238,233 Stock-based compensation — — 1,601 — — 1,601 Cash dividends declared on common stock ($0.275 per share) — — — — (9,854 ) (9,854 ) Issuance of common stock, net of restricted stock forfeitures 45,427 — — — — — Repurchase of 12,624 shares of restricted common stock — — — (435 ) — (435 ) Net income — — — — 4,151 4,151 Balances at March 31, 2021 40,288,138 401 241,807 (66,623 ) 58,111 233,696 Stock-based compensation — — 942 — — 942 Cash dividends declared on common stock ($0.275 per share) — — — — (9,943 ) (9,943 ) Restricted stock forfeitures (9,295 ) 1 — — — 1 Net income — — — — 15,766 15,766 Balances at June 30, 2021 40,278,843 402 242,749 (66,623 ) 63,934 240,462 Stock-based compensation — — 1,057 — — 1,057 Cash dividends declared on common stock ($0.275 per share) — — — — (9,964 ) (9,964 ) Issuance of common stock, net of restricted stock forfeitures 75,828 1 — — — 1 Repurchase of 48,852 shares of restricted common stock — — — (1,670 ) — (1,670 ) Net income — — — — 29,537 29,537 Balances at September 30, 2021 40,354,671 $ 403 $ 243,806 $ (68,293 ) $ 83,507 $ 259,423 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

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2021
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, 2021: Number of Shares Weighted Average Grant Date Fair Non-vested stock at December 31, 2020 524,876 $ 23.00 Granted 202,687 $ 33.28 Vested (186,042 ) $ 26.83 Forfeited (60,002 ) $ 25.30 Non-vested stock at September 30, 2021 481,519 $ 25.56 As of September 30, 2021, we had unrecognized compensation expense of approximately $7.1 million related to non-vested stock that we expect to be recognized over a weighted-average period of approximately 2.1 years. The following table summarizes compensation expense related to non-vested stock, which is included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations for the three and nine month periods ended September 30, 2021 and 2020 (amounts in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Compensation expense $ 1,057 $ 639 $ 3,600 $ 3,295

Income (Loss) per Share

Income (Loss) per Share	9 Months Ended
	Sep. 30, 2021
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, 2021 and 2020 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 0.7% of total outstanding shares for both the three and nine month periods ended September 30, 2021 and 2020 , 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 period s ended September 30, 2021 and 2020 (amounts in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Net income (loss) from continuing operations $ 24,728 $ 7,983 $ 38,834 $ (25,063 ) Net income from discontinued operations 4,809 2,120 10,620 7,013 Net income (loss) $ 29,537 $ 10,103 $ 49,454 $ (18,050 ) Weighted average number of common shares outstanding: Basic 36,296 36,110 36,232 36,035 Effect of dilutive non-vested restricted stock 140 139 188 — Diluted 36,436 36,249 36,420 36,035 Income (loss) per share: Basic: Continuing operations $ 0.68 $ 0.22 $ 1.07 $ (0.70 ) Discontinued operations 0.13 0.06 0.29 0.19 Net income (loss) per share $ 0.81 $ 0.28 $ 1.36 $ (0.50 ) Diluted: Continuing operations $ 0.68 $ 0.22 $ 1.07 $ (0.70 ) Discontinued operations 0.13 0.06 0.29 0.19 Net income (loss) per share $ 0.81 $ 0.28 $ 1.36 $ (0.50 ) Common shares excluded from the denominator as anti-dilutive: Non-vested restricted stock 91 190 30 189

Senior Secured Credit Facility

Senior Secured Credit Facility	9 Months Ended
	Sep. 30, 2021
Secured Debt [Member]
Senior Secured Credit Facility	(8) Senior Secured Credit Facility We and our subsidiaries are parties to a $750.0 million Credit Facility with Wells Fargo Capital Finance, LLC as administrative agent, and the lenders named therein (the “Credit Facility”). For further information related to significant terms of the Credit Facility, see footnote 10 to the Company’s consolidated financial statements included as Item 8 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. On September 14, 2021, the Company further amended and extended the Amended and Restated Credit Agreement with the Second Amendment to the Fifth Amended and Restated Credit Agreement (the “Second Amendment”) by and among the Company, Great Northern Equipment, Inc., H&E Equipment Services (California), LLC, H&E Equipment Services (Mid-Atlantic), LLC, the other credit parties named therein, the lenders named therein, Wells Fargo Bank National Association, as administrative agent, and the joint lead arrangers, joint book runners, co-syndication agents and documentation agent named therein. The Second Amendment (i) amended the permitted dispositions of the credit facility, specifically the Crane Sale, and (ii) included benchmark language for a transition away from LIBOR. As of September 30, 2021, we were in compliance with our financial covenants under the Amended and Restated Credit Agreement. At September 30, 2021, we had no borrowings outstanding under the Credit Facility and could borrow up to approximately $741.3 million, net of an $8.7 million outstanding letter of credit, and remain in compliance with the debt covenants under the Credit Facility.

Senior Unsecured Notes

Senior Unsecured Notes	9 Months Ended
	Sep. 30, 2021
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Senior Secured Credit Facility	(9) Senior Unsecured Notes On December 14, 2020, we completed an offering of $1,250 million aggregate principal amount of 3.875% senior notes due 2028 (the “New Notes”) and the settlement of a cash tender offer with respect to our previously outstanding 5.625% senior notes due 2025 (the “Old Notes”). For further information related to significant terms of the Senior Unsecured Notes, see footnote 9 to the Company’s consolidated financial statements included as Item 8 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. As of September 30, 2021, 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, 2019 $ 945,566 Accretion of discount on Old Notes through December 14, 2020 1,466 Amortization of note premium on Old Notes through December 14, 2020 (1,011 ) Amortization of deferred financing costs on Old Notes through December 14, 2020 293 Aggregate principal amount paid on Old Notes (950,000 ) Writeoff of unaccreted discount on Old Notes 7,225 Writeoff of unamortized premium on Old Notes (4,988 ) Writeoff of deferred financing costs on Old Notes 1,449 Aggregate principal amount issued on New Notes 1,250,000 Notes discount and deferred transaction costs on New Notes (11,404 ) Accretion of discount on New Notes from December 14, 2020 through December 31, 2020 53 Amortization of deferred financing costs on New Notes from December 14, 2020 through December 31, 2020 11 Balance at December 31, 2020 $ 1,238,660 Accretion of discount on New Notes through September 30, 2021 879 Additional deferred financing costs on New Notes through September 30, 2021 (136 ) Amortization of deferred financing costs on New Notes through September 30, 2021 203 Balance at September 30, 2021 $ 1,239,606

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	(10) Leases We adopted Topic 842 on January 1, 2019. For a discussion 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, 2020. At September 30, 2021, as disclosed in our condensed consolidated balance sheet, we had net operating lease right-of-use assets of $153.7 million and net finance lease right-of-use assets of $0.1 million. Our operating lease liabilities at September 30, 2021 were $157.5 million and finance lease liabilities were $0.1 million. The weighted average remaining lease term for operating leases was approximately 8.9 years and the weighted average remaining lease term for finance leases was approximately 0.5 years. The weighted average discount rate for operating and finance leases was approximately 6.3% and 5.9%, respectively. The future minimum lease payments of operating leases executed but not commenced as of September 30, 2021 are estimated to be $0.1 million, $0.6 million, $0.6 million, $0.6 million and $0.6 million for the years ended December 31, 2021, 2022, 2023, 2024 and 2025, respectively, and $4.0 million thereafter. It is expected that these leases will commence during the fourth quarter of 2021 and the first quarter of 2022.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segment Information	(11) 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 Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Segment Revenues: Equipment rentals $ 197,184 $ 161,461 $ 526,014 $ 481,563 Used equipment sales 31,071 36,216 105,746 94,890 New equipment sales 19,355 27,827 70,161 79,957 Parts sales 17,503 16,291 49,939 50,197 Services revenues 8,624 8,489 24,694 27,245 Total segmented revenues 273,737 250,284 776,554 733,852 Non-segmented revenues 1,699 1,629 4,991 5,403 Total revenues $ 275,436 $ 251,913 $ 781,545 $ 739,255 Segment Gross Profit: Equipment rentals $ 90,009 $ 63,946 $ 221,415 $ 191,210 Used equipment sales 11,688 11,012 37,320 30,771 New equipment sales 2,409 3,058 8,585 8,759 Parts sales 4,294 4,237 13,224 13,689 Services revenues 5,624 5,733 16,501 18,550 Total segmented gross profit 114,024 87,986 297,045 262,979 Non-segmented gross profit (loss) (116 ) 23 95 (33 ) Total gross profit $ 113,908 $ 88,009 $ 297,140 $ 262,946 Balances at September 30, December 31, 2021 2020 Segment identified assets: Equipment sales $ 52,247 $ 32,047 Equipment rentals 1,112,056 989,423 Parts and services 13,373 9,843 Total segment identified assets 1,177,676 1,031,313 Non-segment identified assets 762,338 827,716 Assets held for sale 110,900 121,455 Total assets $ 2,050,914 $ 1,980,484 The Company operates primarily in the United States and our sales to international customers for the three month periods ended September 30, 2021 and 2020 were 0.2% and 0.2% of total revenues, respectively, and for the nine month periods ended September 30, 2021 and 2020 were 0.2% and 0.3% of total revenues, respectively. No one customer accounted for more than 10% of our revenues on an overall or segment basis for any of the periods presented.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	(12) Subsequent Events As disclosed in Note 3, on October 1, 2021, the Company closed the sale of its crane business to a wholly-owned subsidiary of The Manitowoc Company, Inc.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our condensed consolidated financial statements include the financial position and results of operations of H&E Equipment Services, Inc. and its wholly-owned subsidiaries H&E Finance Corp., GNE Investments, Inc., Great Northern Equipment, Inc., H&E California Holding, Inc., H&E Equipment Services (California), LLC and H&E Equipment Services (Mid-Atlantic), Inc., collectively referred to herein as “we” 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, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021, 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, 2020, from which the consolidated balance sheet amounts as of December 31, 2020 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. During the third quarter of 2021, the Company agreed to sell its crane business, (the “Crane Sale”). The results of operations of the Crane Sale are reported in discontinued operations in the Condensed Consolidated Statements of Operations for all periods presented and the related assets and liabilities associated with discontinued operations are classified as held for sale in the Condensed Consolidated Balance Sheet as of September 30, 2021. The Condensed Consolidated Statements of Cash Flows includes cash flows related to the discontinued operations and accordingly, cash flow amounts for discontinued operations are disclosed in Note 3 “Divestitures”. All results and information in the consolidated financial statements are presented as continuing operations and exclude the Crane Sale unless otherwise noted specifically as discontinued operations. For additional information, refer to Note 3. The nature of our business is such that short-term obligations are typically met by cash flows generated from long-term assets. Consequently, and consistent with industry practice, the accompanying condensed consolidated balance sheets are presented on an unclassified basis.
Use of Estimates	Use of Estimates We prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America, which requires management to use its judgment to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosures at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. These assumptions and estimates could have a material effect on our condensed consolidated financial statements. Actual results may differ materially from those estimates. We review our estimates on an ongoing basis based on information currently available, and changes in facts and circumstances may cause us to revise these estimates.
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. In the table below, revenues as presented in our condensed consolidated statements of operations for the three and nine month periods ended September 30, 2021 and 2020 are summarized by type and by the applicable accounting standard. Three Months Ended September 30, 2021 2020 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 166,847 $ 75 $ 166,922 $ 138,765 $ 75 $ 138,840 Re-rent revenue 9,733 — 9,733 6,469 — 6,469 Ancillary and other rental revenues: Delivery and pick-up — 11,005 11,005 — 9,161 9,161 Other 9,524 — 9,524 6,991 — 6,991 Total ancillary rental revenues 9,524 11,005 20,529 6,991 9,161 16,152 Total equipment rental revenues 186,104 11,080 197,184 152,225 9,236 161,461 Used equipment sales — 31,071 31,071 — 36,216 36,216 New equipment sales — 19,355 19,355 — 27,827 27,827 Parts sales — 17,503 17,503 — 16,291 16,291 Service revenues — 8,624 8,624 — 8,489 8,489 Other — 1,699 1,699 — 1,629 1,629 Total revenues $ 186,104 $ 89,332 $ 275,436 $ 152,225 $ 99,688 $ 251,913 Nine Months Ended September 30, 2021 2020 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 444,203 $ 239 $ 444,442 $ 418,798 $ 316 $ 419,114 Re-rent revenue 26,570 — 26,570 16,071 — 16,071 Ancillary and other rental revenues: Delivery and pick-up — 29,487 29,487 — 26,890 26,890 Other 25,515 — 25,515 19,488 — 19,488 Total ancillary rental revenues 25,515 29,487 55,002 19,488 26,890 46,378 Total equipment rental revenues 496,288 29,726 526,014 454,357 27,206 481,563 Used equipment sales — 105,746 105,746 — 94,890 94,890 New equipment sales — 70,161 70,161 — 79,957 79,957 Parts sales — 49,939 49,939 — 50,197 50,197 Service revenues — 24,694 24,694 — 27,245 27,245 Other — 4,991 4,991 — 5,403 5,403 Total revenues $ 496,288 $ 285,257 $ 781,545 $ 454,357 $ 284,898 $ 739,255 Revenues by reporting segment are presented in note 11 of our condensed consolidated financial statements, using the revenue captions reflected in our consolidated statements of operations. We believe that the disaggregation of our revenues from contracts to customers as reflected above, coupled with further discussion below and the reporting segments in note 11, depict how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors. For further information related to our accounting for revenues pursuant to Topic 606 and Topic 842, see Significant Accounting Policies in note 2 of the notes to consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2020. Receivables and contract assets and liabilities We manage credit risk associated with our accounts receivables at the customer level. Because the same customers typically generate the revenues that are accounted for under both Topic 606 and Topic 842, the discussions below on credit risk and our allowance for doubtful accounts address our total revenues from Topic 606 and Topic 842. We believe concentration of credit risk with respect to our receivables is limited because our customer base is comprised of a large number of geographically diverse customers. No single customer accounted for more than 10% of our revenues on an overall or segment basis for any of the periods presented in this Quarterly Report on Form 10-Q. We manage credit risk through credit approvals, credit limits and other monitoring procedures. Pursuant to Topic 842 and Topic 326 for rental and non-rental receivables, respectively, we maintain an allowance for doubtful accounts that reflects our estimate of our expected credit losses. Our allowance is estimated using a loss rate model based on delinquency. The estimated loss rate is based on our historical experience with specific customers, our understanding of our current economic circumstances, reasonable and supportable forecasts, and our own judgment as to the likelihood of ultimate payment based upon available data. Our largest exposure to doubtful accounts is in our rental operations. We perform credit evaluations of customers and establish credit limits based on reviews of our customers’ current credit information and payment histories. We believe our credit risk is somewhat mitigated by our geographically diverse customer base and our credit evaluation procedures. The actual rate of future credit losses, however, may not be similar to past experience. Our estimate of doubtful accounts could change based on changing circumstances, including changes in the economy or in the particular circumstances of individual customers. Accordingly, we may be required to increase or decrease our allowance for doubtful accounts. We do not have material contract assets, impairment losses associated therewith, or material contract liabilities associated with contracts with customers. Our contracts with customers do not generally result in material amounts billed to customers in excess of recognizable revenue. We did not recognize material revenues during the three and nine month periods ended September 30, 2021 or 2020 that was included in the contract liability balance as of the beginning of such periods.
Held for Sale	Held for Sale The Company considers assets to be held for sale when management, with appropriate authority, approves and commits to a formal plan to sell the assets at a price reasonable in relation to their estimated fair value, the assets are available for immediate sale in their present condition, the sale of the assets is probable and expected to be completed in one year and it is unlikely that significant changes will be made to the plan. Upon designation as held for sale, the Company records the assets at the lower of their carrying value or their estimated fair value, reduced for the cost to dispose the assets, and ceases to record depreciation and amortization expenses on the assets.
Discontinued Operations	Discontinued Operations In determining whether a group of assets which has been disposed of (or is to be disposed of) should be presented as discontinued operations, the Company analyzes whether the group of assets being disposed of represents a component of the entity. A component typically has historic operations and cash flows that are clearly distinguishable for both operations and financial reporting purposes. In addition, the Company considers whether the disposal represents a strategic shift that has or will have a major effect on the Company’s operations and financial results. This strategic shift could include a disposal of a major geographical area, a major line of business, a major equity method investment, or other major parts of an entity. The Company reports financial results for discontinued operations separately from continuing operations to distinguish the financial impact of disposal transactions from ongoing operations. The assets and liabilities of a discontinued operation held for sale, other than goodwill, are measured at the lower of its carrying amount or fair value less cost to sell. When a portion of a reporting unit that constitutes a business is to be disposed of, the goodwill associated with that business is included in the carrying amount of the business based on the relative fair values of the business to be disposed of and the portion of the reporting unit that will be retained. See Note 3 for additional information.
Goodwill	Goodwill 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, resulting in an impairment charge to our Equipment Rental Component 2 reporting unit. For additional information related to our goodwill impairment charge in the first quarter of 2020, please see footnote 2 to the Company’s consolidated financial statements included as Item 8 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. There were no changes in the carrying amount of goodwill for our reporting units for the period ended September 30, 2021. The change to the carrying amount of goodwill for the period ended December 31, 2020 is as follows (amounts in thousands): Eq. Rental Comp. 1 Eq. Rental Comp. 2 Used Eq. Sales New Eq. Sales Parts Sales Service Revenues Total Balance at December 31, 2019 $ 49,215 $ 55,981 $ 8,455 $ — $ 5,747 $ — $ 119,398 Decreases (1) (239 ) (317 ) (8 ) — (33 ) — (597 ) Decreases (2) — (55,664 ) — — — — (55,664 ) Balance at December 31, 2020 $ 48,976 $ — $ 8,447 $ — $ 5,714 $ — $ 63,137 (1) 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. (2) Decrease is related to the goodwill impairment calculated as of March 31, 2020.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Pronouncements Not Yet Adopted 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. We intend to continue to monitor the developments with respect to the planned phase-out out of LIBOR and work with our lenders to seek to ensure any transition away from LIBOR will have minimal impact on our financial condition. However, we can provide no assurances regarding the impact of the discontinuation of LIBOR as there can be no assurances as to whether such replacement or alternative base rate will be more or less favorable than LIBOR. Our exposure related to the expected cessation of LIBOR is limited to the interest expense we incur on balances outstanding under our Senior Secured Credit Facility (the “Credit Facility”). We amended our credit facility on September 14, 2021 to include benchmark language for a transition away from LIBOR. The potential impact from the cessation of LIBOR as a reference rate, as well as the applicability of ASU 2020-04, is not currently estimable. Pronouncements Adopted in 2021 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. The Company adopted ASU 2019-12 on January 1, 2021 and the adoption did not have a material impact on our condensed consolidated financial statements presented herein .

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Revenues by Type and by Applicable Accounting Standard	In the table below, revenues as presented in our condensed consolidated statements of operations for the three and nine month periods ended September 30, 2021 and 2020 are summarized by type and by the applicable accounting standard. Three Months Ended September 30, 2021 2020 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 166,847 $ 75 $ 166,922 $ 138,765 $ 75 $ 138,840 Re-rent revenue 9,733 — 9,733 6,469 — 6,469 Ancillary and other rental revenues: Delivery and pick-up — 11,005 11,005 — 9,161 9,161 Other 9,524 — 9,524 6,991 — 6,991 Total ancillary rental revenues 9,524 11,005 20,529 6,991 9,161 16,152 Total equipment rental revenues 186,104 11,080 197,184 152,225 9,236 161,461 Used equipment sales — 31,071 31,071 — 36,216 36,216 New equipment sales — 19,355 19,355 — 27,827 27,827 Parts sales — 17,503 17,503 — 16,291 16,291 Service revenues — 8,624 8,624 — 8,489 8,489 Other — 1,699 1,699 — 1,629 1,629 Total revenues $ 186,104 $ 89,332 $ 275,436 $ 152,225 $ 99,688 $ 251,913 Nine Months Ended September 30, 2021 2020 Topic 842 Topic 606 Total Topic 842 Topic 606 Total Revenues: Rental revenues Owned equipment rentals $ 444,203 $ 239 $ 444,442 $ 418,798 $ 316 $ 419,114 Re-rent revenue 26,570 — 26,570 16,071 — 16,071 Ancillary and other rental revenues: Delivery and pick-up — 29,487 29,487 — 26,890 26,890 Other 25,515 — 25,515 19,488 — 19,488 Total ancillary rental revenues 25,515 29,487 55,002 19,488 26,890 46,378 Total equipment rental revenues 496,288 29,726 526,014 454,357 27,206 481,563 Used equipment sales — 105,746 105,746 — 94,890 94,890 New equipment sales — 70,161 70,161 — 79,957 79,957 Parts sales — 49,939 49,939 — 50,197 50,197 Service revenues — 24,694 24,694 — 27,245 27,245 Other — 4,991 4,991 — 5,403 5,403 Total revenues $ 496,288 $ 285,257 $ 781,545 $ 454,357 $ 284,898 $ 739,255
Schedule of Changes in Carrying Amount of Goodwill	There were no changes in the carrying amount of goodwill for our reporting units for the period ended September 30, 2021. The change to the carrying amount of goodwill for the period ended December 31, 2020 is as follows (amounts in thousands): Eq. Rental Comp. 1 Eq. Rental Comp. 2 Used Eq. Sales New Eq. Sales Parts Sales Service Revenues Total Balance at December 31, 2019 $ 49,215 $ 55,981 $ 8,455 $ — $ 5,747 $ — $ 119,398 Decreases (1) (239 ) (317 ) (8 ) — (33 ) — (597 ) Decreases (2) — (55,664 ) — — — — (55,664 ) Balance at December 31, 2020 $ 48,976 $ — $ 8,447 $ — $ 5,714 $ — $ 63,137 (1) 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. (2) Decrease is related to the goodwill impairment calculated as of March 31, 2020.

Divestitures (Tables)

Divestitures (Tables)	9 Months Ended
	Sep. 30, 2021
Discontinued Operations And Disposal Groups [Abstract]
Schedule of Income from Discontinued Operations and Carrying Value of Assets and Liabilities	The following tables (amounts in thousands) present the Crane Sale results as reported in income from discontinued operations within our condensed consolidated statements of operations and the carrying value of assets and liabilities as presented within assets and liabilities held for sale on our condensed consolidated balance sheets. The amounts presented below are preliminary and are subject to change. Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Revenues: Equipment rentals $ 3,890 $ 4,388 $ 10,321 $ 14,599 Used equipment sales 3,096 3,784 11,545 10,341 New equipment sales 15,428 9,421 52,286 32,111 Parts sales 12,668 11,562 33,268 33,645 Services revenues 7,438 7,148 20,855 20,871 Other 1,411 1,044 3,755 2,696 Total revenues 43,931 37,347 132,030 114,263 Cost of revenues: Rental depreciation — 2,111 3,720 6,325 Rental expense 752 622 1,947 1,891 Rental other 430 279 1,000 964 1,182 3,012 6,667 9,180 Used equipment sales 2,383 2,668 8,713 7,473 New equipment sales 13,737 8,355 46,725 28,611 Parts sales 9,691 8,871 25,288 25,672 Services revenues 2,474 2,442 6,767 7,216 Other 898 941 3,168 2,437 Total cost of revenues 30,365 26,289 97,328 80,589 Gross profit 13,566 11,058 34,702 33,674 Selling, general and administrative expenses 6,769 5,500 18,872 17,083 Impairment of goodwill — — — 6,330 Merger and other 384 — 1,695 — Gain on sales of property and equipment, net — 55 49 2,442 Income from discontinued operations 6,413 5,613 14,184 12,703 Other, net (2 ) 1 62 6 Income before provision for income taxes 6,411 5,614 14,246 12,709 Provision for income taxes 1,602 3,494 3,626 5,696 Net income from discontinued operations $ 4,809 $ 2,120 $ 10,620 $ 7,013 Balances at September 30, December 31, 2021 2020 (Unaudited) Assets: Receivables, net of allowance for doubtful accounts of $252 and $252, respectively $ 16,872 $ 28,356 Inventories, net of reserves for obsolescence of $116 and $120, respectively 35,001 30,598 Prepaid expenses and other assets 86 86 Rental equipment, net of accumulated depreciation of $29,076 and $34,143, respectively 34,405 39,322 Property and equipment, net of accumulated depreciation and amortization of $14,288 and $13,381, respectively 7,223 7,821 Operating lease right-of-use assets, net of accumulated amortization of $706 and $652, respectively 11,599 9,558 Goodwill (1) 5,714 5,714 Total assets held for sale $ 110,900 $ 121,455 Liabilities: Accounts payable $ 4,899 $ 14,033 Accrued expenses payable and other liabilities 200 170 Operating lease right-of-use liabilities 11,896 9,639 Total liabilities held for sale $ 16,995 $ 23,842 (1) We have allocated $5.7 million of goodwill in the following two reporting units to the crane product line based on the relative fair value of the crane product line and the portion of the reporting units that will be retained. The allocation is as follows (amounts in thousands): Used Equipment $ 506 Parts 5,208 $ 5,714 Cash flows from discontinued operations was as follows (amounts in thousands): Nine Months Ended September 30, 2021 2020 Operating activities of discontinued operations: Depreciation and amortization of property and equipment $ 1,083 $ 1,715 Depreciation of rental equipment 3,720 6,325 Gain from sales of property and equipment, net (49 ) (2,442 ) Gain from sales of rental equipment, net (2,203 ) (2,634 ) Investing activities of discontinued operations: Purchases of rental equipment (2,431 ) (7,624 ) Proceeds from sales of property and equipment 43 4,781 Proceeds from sales of rental equipment 5,929 6,965

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
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, 2021 and December 31, 2020 are presented in the table below (amounts in thousands). September 30, 2021 Carrying Amount Fair Value Manufacturer flooring plans payable with interest computed at 3.5% (Level 3) $ 17,543 $ 15,823 Senior unsecured notes due 2028 with interest computed at 3.875% (Level 2) 1,239,606 1,247,975 December 31, 2020 Carrying Amount Fair Value Manufacturer flooring plans payable with interest computed at 3.5% (Level 3) $ 9,615 $ 8,976 Senior unsecured notes due 2028 with interest computed at 3.875% (Level 2) 1,238,660 1,259,413

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Summary of Activity in Stockholders' Equity	The following table summarizes the quarterly activity in Stockholders’ Equity for the periods ended September 30, 2021 and 2020, 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, 2020 40,242,711 $ 401 $ 240,206 $ (66,188 ) $ 63,814 $ 238,233 Stock-based compensation — — 1,601 — — 1,601 Cash dividends declared on common stock ($0.275 per share) — — — — (9,854 ) (9,854 ) Issuance of common stock, net of restricted stock forfeitures 45,427 — — — — — Repurchase of 12,624 shares of restricted common stock — — — (435 ) — (435 ) Net income — — — — 4,151 4,151 Balances at March 31, 2021 40,288,138 401 241,807 (66,623 ) 58,111 233,696 Stock-based compensation — — 942 — — 942 Cash dividends declared on common stock ($0.275 per share) — — — — (9,943 ) (9,943 ) Restricted stock forfeitures (9,295 ) 1 — — — 1 Net income — — — — 15,766 15,766 Balances at June 30, 2021 40,278,843 402 242,749 (66,623 ) 63,934 240,462 Stock-based compensation — — 1,057 — — 1,057 Cash dividends declared on common stock ($0.275 per share) — — — — (9,964 ) (9,964 ) Issuance of common stock, net of restricted stock forfeitures 75,828 1 — — — 1 Repurchase of 48,852 shares of restricted common stock — — — (1,670 ) — (1,670 ) Net income — — — — 29,537 29,537 Balances at September 30, 2021 40,354,671 $ 403 $ 243,806 $ (68,293 ) $ 83,507 $ 259,423 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

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
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, 2021: Number of Shares Weighted Average Grant Date Fair Non-vested stock at December 31, 2020 524,876 $ 23.00 Granted 202,687 $ 33.28 Vested (186,042 ) $ 26.83 Forfeited (60,002 ) $ 25.30 Non-vested stock at September 30, 2021 481,519 $ 25.56
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, 2021 and 2020 (amounts in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Compensation expense $ 1,057 $ 639 $ 3,600 $ 3,295

Income (Loss) per Share (Tables

Income (Loss) per Share (Tables)	9 Months Ended
	Sep. 30, 2021
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 period s ended September 30, 2021 and 2020 (amounts in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Net income (loss) from continuing operations $ 24,728 $ 7,983 $ 38,834 $ (25,063 ) Net income from discontinued operations 4,809 2,120 10,620 7,013 Net income (loss) $ 29,537 $ 10,103 $ 49,454 $ (18,050 ) Weighted average number of common shares outstanding: Basic 36,296 36,110 36,232 36,035 Effect of dilutive non-vested restricted stock 140 139 188 — Diluted 36,436 36,249 36,420 36,035 Income (loss) per share: Basic: Continuing operations $ 0.68 $ 0.22 $ 1.07 $ (0.70 ) Discontinued operations 0.13 0.06 0.29 0.19 Net income (loss) per share $ 0.81 $ 0.28 $ 1.36 $ (0.50 ) Diluted: Continuing operations $ 0.68 $ 0.22 $ 1.07 $ (0.70 ) Discontinued operations 0.13 0.06 0.29 0.19 Net income (loss) per share $ 0.81 $ 0.28 $ 1.36 $ (0.50 ) Common shares excluded from the denominator as anti-dilutive: Non-vested restricted stock 91 190 30 189

Senior Unsecured Notes (Tables)

Senior Unsecured Notes (Tables)	9 Months Ended
	Sep. 30, 2021
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, 2019 $ 945,566 Accretion of discount on Old Notes through December 14, 2020 1,466 Amortization of note premium on Old Notes through December 14, 2020 (1,011 ) Amortization of deferred financing costs on Old Notes through December 14, 2020 293 Aggregate principal amount paid on Old Notes (950,000 ) Writeoff of unaccreted discount on Old Notes 7,225 Writeoff of unamortized premium on Old Notes (4,988 ) Writeoff of deferred financing costs on Old Notes 1,449 Aggregate principal amount issued on New Notes 1,250,000 Notes discount and deferred transaction costs on New Notes (11,404 ) Accretion of discount on New Notes from December 14, 2020 through December 31, 2020 53 Amortization of deferred financing costs on New Notes from December 14, 2020 through December 31, 2020 11 Balance at December 31, 2020 $ 1,238,660 Accretion of discount on New Notes through September 30, 2021 879 Additional deferred financing costs on New Notes through September 30, 2021 (136 ) Amortization of deferred financing costs on New Notes through September 30, 2021 203 Balance at September 30, 2021 $ 1,239,606

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of Information about Reportable Segments	The following table presents information about our reportable segments (amounts in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Segment Revenues: Equipment rentals $ 197,184 $ 161,461 $ 526,014 $ 481,563 Used equipment sales 31,071 36,216 105,746 94,890 New equipment sales 19,355 27,827 70,161 79,957 Parts sales 17,503 16,291 49,939 50,197 Services revenues 8,624 8,489 24,694 27,245 Total segmented revenues 273,737 250,284 776,554 733,852 Non-segmented revenues 1,699 1,629 4,991 5,403 Total revenues $ 275,436 $ 251,913 $ 781,545 $ 739,255 Segment Gross Profit: Equipment rentals $ 90,009 $ 63,946 $ 221,415 $ 191,210 Used equipment sales 11,688 11,012 37,320 30,771 New equipment sales 2,409 3,058 8,585 8,759 Parts sales 4,294 4,237 13,224 13,689 Services revenues 5,624 5,733 16,501 18,550 Total segmented gross profit 114,024 87,986 297,045 262,979 Non-segmented gross profit (loss) (116 ) 23 95 (33 ) Total gross profit $ 113,908 $ 88,009 $ 297,140 $ 262,946 Balances at September 30, December 31, 2021 2020 Segment identified assets: Equipment sales $ 52,247 $ 32,047 Equipment rentals 1,112,056 989,423 Parts and services 13,373 9,843 Total segment identified assets 1,177,676 1,031,313 Non-segment identified assets 762,338 827,716 Assets held for sale 110,900 121,455 Total assets $ 2,050,914 $ 1,980,484

Organization and Nature of Op_2

Organization and Nature of Operations - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2021State
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of states company serving rental equipment to the customers	24

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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues:
Revenues	$ 275,436	$ 251,913	$ 781,545	$ 739,255
Topic 842 [Member]
Revenues:
Revenues	186,104	152,225	496,288	454,357
Topic 606 [Member]
Revenues:
Revenues	89,332	99,688	285,257	284,898
Rental Revenues [Member] | Owned Equipment Rentals [Member]
Revenues:
Revenues	166,922	138,840	444,442	419,114
Rental Revenues [Member] | Owned Equipment Rentals [Member] | Topic 842 [Member]
Revenues:
Revenues	166,847	138,765	444,203	418,798
Rental Revenues [Member] | Owned Equipment Rentals [Member] | Topic 606 [Member]
Revenues:
Revenues	75	75	239	316
Rental Revenues [Member] | Re Rent Revenues [Member]
Revenues:
Revenues	9,733	6,469	26,570	16,071
Rental Revenues [Member] | Re Rent Revenues [Member] | Topic 842 [Member]
Revenues:
Revenues	9,733	6,469	26,570	16,071
Ancillary And Other Rental Revenues [Member]
Revenues:
Revenues	20,529	16,152	55,002	46,378
Ancillary And Other Rental Revenues [Member] | Topic 842 [Member]
Revenues:
Revenues	9,524	6,991	25,515	19,488
Ancillary And Other Rental Revenues [Member] | Topic 606 [Member]
Revenues:
Revenues	11,005	9,161	29,487	26,890
Ancillary And Other Rental Revenues [Member] | Delivery and Pick-up [Member]
Revenues:
Revenues	11,005	9,161	29,487	26,890
Ancillary And Other Rental Revenues [Member] | Delivery and Pick-up [Member] | Topic 606 [Member]
Revenues:
Revenues	11,005	9,161	29,487	26,890
Ancillary And Other Rental Revenues [Member] | Other [Member]
Revenues:
Revenues	9,524	6,991	25,515	19,488
Ancillary And Other Rental Revenues [Member] | Other [Member] | Topic 842 [Member]
Revenues:
Revenues	9,524	6,991	25,515	19,488
Total Equipment Rental Revenues [Member]
Revenues:
Revenues	197,184	161,461	526,014	481,563
Total Equipment Rental Revenues [Member] | Topic 842 [Member]
Revenues:
Revenues	186,104	152,225	496,288	454,357
Total Equipment Rental Revenues [Member] | Topic 606 [Member]
Revenues:
Revenues	11,080	9,236	29,726	27,206
Used Equipment Sales [Member]
Revenues:
Revenues	31,071	36,216	105,746	94,890
Used Equipment Sales [Member] | Topic 606 [Member]
Revenues:
Revenues	31,071	36,216	105,746	94,890
New Equipment Sales [Member]
Revenues:
Revenues	19,355	27,827	70,161	79,957
New Equipment Sales [Member] | Topic 606 [Member]
Revenues:
Revenues	19,355	27,827	70,161	79,957
Parts Sales [Member]
Revenues:
Revenues	17,503	16,291	49,939	50,197
Parts Sales [Member] | Topic 606 [Member]
Revenues:
Revenues	17,503	16,291	49,939	50,197
Parts and Services [Member]
Revenues:
Revenues	8,624	8,489	24,694	27,245
Parts and Services [Member] | Topic 606 [Member]
Revenues:
Revenues	8,624	8,489	24,694	27,245
Other [Member]
Revenues:
Revenues	1,699	1,629	4,991	5,403
Other [Member] | Topic 606 [Member]
Revenues:
Revenues	$ 1,699	$ 1,629	$ 4,991	$ 5,403

Significant Accounting Polici_5

Significant Accounting Policies - Additional Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021Customer	Sep. 30, 2020Customer	Sep. 30, 2021USD ($)Customer	Sep. 30, 2020Customer	Dec. 31, 2020USD ($)
Summary Of Significant Accounting Policy [Line Items]
Customer accounted for more than 10% of revenue | Customer	0	0	0	0
Change in carrying amount of goodwill | $			$ 0		$ (55,664)
ASU 2019-12 [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, 2021		Jan. 1, 2021
Change in accounting principle, accounting standards update, immaterial effect	true		true

Significant Accounting Polici_6

Significant Accounting Policies - Schedule of Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Goodwill [Line Items]
Beginning balance	$ 63,137	$ 119,398
Increases (Decreases)	0	(55,664)
Ending balance	63,137	63,137
CEC and Rental Inc [Member]
Goodwill [Line Items]
Increases (Decreases)		(597)
Equipment Rental Component 1 [Member]
Goodwill [Line Items]
Beginning balance	48,976	49,215
Ending balance		48,976
Equipment Rental Component 1 [Member] | CEC and Rental Inc [Member]
Goodwill [Line Items]
Increases (Decreases)		(239)
Equipment Rental Component 2 [Member]
Goodwill [Line Items]
Beginning balance		55,981
Increases (Decreases)		(55,664)
Equipment Rental Component 2 [Member] | CEC and Rental Inc [Member]
Goodwill [Line Items]
Increases (Decreases)		(317)
Used Equipment Sales [Member]
Goodwill [Line Items]
Beginning balance	8,447	8,455
Ending balance		8,447
Used Equipment Sales [Member] | CEC and Rental Inc [Member]
Goodwill [Line Items]
Increases (Decreases)		(8)
Parts Sales [Member]
Goodwill [Line Items]
Beginning balance	$ 5,714	5,747
Ending balance		5,714
Parts Sales [Member] | CEC and Rental Inc [Member]
Goodwill [Line Items]
Increases (Decreases)		$ (33)

Divestitures - Additional Infor

Divestitures - Additional Information (Detail) $ in Thousands	Sep. 17, 2021USD ($)BranchCounty	Jul. 19, 2021USD ($)ReportingUnit	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of goodwill reporting units | ReportingUnit		6
Crane Business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business		$ 130,000
Number of goodwill reporting units | ReportingUnit		5
Sale of business, transaction closing date		Oct. 1, 2021
Net book value			$ 7,223	$ 7,821
Crane Business [Member] | Minimum [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Period of transition of certain functions		60 days
Crane Business [Member] | Maximum [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Period of transition of certain functions		6 months
Arkansas Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business	$ 9,000
Net book value	$ 3,700
Number of branches sold | Branch	2
Arkansas Sale [Member] | Southeast Arkansas [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of counties excluded in distribution territory | County	5

Divestitures - Schedule of Inco

Divestitures - Schedule of Income from Discontinued Operations and Carrying Value of Assets and Liabilities (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Cost of revenues:
Income before provision for income taxes	$ 6,411	$ 5,614	$ 14,246	$ 12,709
Provision for income taxes	1,602	3,494	3,626	5,696
Net income from discontinued operations	4,809	2,120	10,620	7,013
Assets:
Total assets held for sale	110,900		110,900		$ 121,455
Liabilities:
Total liabilities held for sale	16,995		16,995		23,842
Crane Business [Member]
Revenues:
Total revenues	43,931	37,347	132,030	114,263
Cost of revenues:
Total cost of revenues	30,365	26,289	97,328	80,589
Gross profit	13,566	11,058	34,702	33,674
Selling, general and administrative expenses	6,769	5,500	18,872	17,083
Impairment of goodwill				6,330
Merger and other	384		1,695
Gain on sales of property and equipment, net		55	49	2,442
Income from discontinued operations	6,413	5,613	14,184	12,703
Other, net	(2)	1	62	6
Income before provision for income taxes	6,411	5,614	14,246	12,709
Provision for income taxes	1,602	3,494	3,626	5,696
Net income from discontinued operations	4,809	2,120	10,620	7,013
Assets:
Receivables, net of allowance for doubtful accounts of $252 and $252, respectively	16,872		16,872		28,356
Inventories, net of reserves for obsolescence of $116 and $120, respectively	35,001		35,001		30,598
Prepaid expenses and other assets	86		86		86
Rental equipment, net of accumulated depreciation of $29,076 and $34,143, respectively	34,405		34,405		39,322
Property and equipment, net of accumulated depreciation and amortization of $14,288 and $13,381, respectively	7,223		7,223		7,821
Operating lease right-of-use assets, net of accumulated amortization of $706 and $652, respectively	11,599		11,599		9,558
Goodwill	5,714		5,714		5,714
Total assets held for sale	110,900		110,900		121,455
Liabilities:
Accounts payable	4,899		4,899		14,033
Accrued expenses payable and other liabilities	200		200		170
Operating lease right-of-use liabilities	11,896		11,896		9,639
Total liabilities held for sale	16,995		16,995		$ 23,842
Crane Business [Member] | Equipment Rentals [Member]
Cost of revenues:
Total cost of revenues	1,182	3,012	6,667	9,180
Crane Business [Member] | Equipment Rentals [Member] | Rentals Other [Member]
Cost of revenues:
Total cost of revenues	430	279	1,000	964
Crane Business [Member] | Equipment Rentals [Member] | Rental Depreciation [Member]
Cost of revenues:
Total cost of revenues		2,111	3,720	6,325
Crane Business [Member] | Equipment Rentals [Member] | Rental Expense [Member]
Cost of revenues:
Total cost of revenues	752	622	1,947	1,891
Crane Business [Member] | Used Equipment Sales [Member]
Cost of revenues:
Total cost of revenues	2,383	2,668	8,713	7,473
Crane Business [Member] | New Equipment Sales [Member]
Cost of revenues:
Total cost of revenues	13,737	8,355	46,725	28,611
Crane Business [Member] | Parts Sales [Member]
Cost of revenues:
Total cost of revenues	9,691	8,871	25,288	25,672
Crane Business [Member] | Services Revenues [Member]
Cost of revenues:
Total cost of revenues	2,474	2,442	6,767	7,216
Crane Business [Member] | Other [Member]
Cost of revenues:
Total cost of revenues	898	941	3,168	2,437
Crane Business [Member] | Equipment Rentals [Member]
Revenues:
Total revenues	3,890	4,388	10,321	14,599
Crane Business [Member] | Used Equipment Sales [Member]
Revenues:
Total revenues	3,096	3,784	11,545	10,341
Crane Business [Member] | New Equipment Sales [Member]
Revenues:
Total revenues	15,428	9,421	52,286	32,111
Crane Business [Member] | Parts Sales [Member]
Revenues:
Total revenues	12,668	11,562	33,268	33,645
Crane Business [Member] | Services Revenues [Member]
Revenues:
Total revenues	7,438	7,148	20,855	20,871
Crane Business [Member] | Other [Member]
Revenues:
Total revenues	$ 1,411	$ 1,044	$ 3,755	$ 2,696

Divestitures - Schedule of In_2

Divestitures - Schedule of Income from Discontinued Operations and Carrying Value of Assets and Liabilities (Parenthetical) (Detail) - Crane Business [Member] $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021USD ($)ReportingUnit	Dec. 31, 2020USD ($)ReportingUnit
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Allowance for doubtful accounts receivables	$ 252	$ 252
Reserves for obsolescence inventories	116	120
Accumulated depreciation, rental equipment	29,076	34,143
Accumulated depreciation and amortization, property and equipment	14,288	13,381
Accumulated amortization, operating lease right-of-use assets	706	652
Goodwill	$ 5,714	$ 5,714
Number of reporting units | ReportingUnit	2	2
Used Equipment Sales [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill	$ 506
Parts Sales [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill	$ 5,208

Divestitures - Schedule of Cash

Divestitures - Schedule of Cash Flows from Discontinued Operations (Detail) - Crane Business [Member] - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating activities of discontinued operations:
Depreciation and amortization of property and equipment	$ 1,083	$ 1,715
Depreciation of rental equipment	3,720	6,325
Gain from sales of property and equipment, net	(49)	(2,442)
Gain from sales of rental equipment, net	(2,203)	(2,634)
Investing activities of discontinued operations:
Purchases of rental equipment	(2,431)	(7,624)
Proceeds from sales of property and equipment	43	4,781
Proceeds from sales of rental equipment	$ 5,929	$ 6,965

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, 2021	Dec. 31, 2020
Level 3 [Member] | Carrying Amount [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable with interest computed at 3.5% (Level 3)	$ 17,543	$ 9,615
Level 3 [Member] | Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable with interest computed at 3.5% (Level 3)	15,823	8,976
Level 2 [Member] | Carrying Amount [Member] | Senior Unsecured Notes Due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes due 2028 with interest computed at 3.875% (Level 2)	1,239,606	1,238,660
Level 2 [Member] | Fair Value [Member] | Senior Unsecured Notes Due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes due 2028 with interest computed at 3.875% (Level 2)	$ 1,247,975	$ 1,259,413

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Estimated Incremental Borrowing Rates for Similar Types of Borrowing Arrangements (Parenthetical) (Detail)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Level 3 [Member] | Carrying Amount [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable, interest rate	3.50%	3.50%
Level 3 [Member] | Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable, interest rate	3.50%	3.50%
Level 2 [Member] | Carrying Amount [Member] | Senior Unsecured Notes Due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes, interest rate	3.875%	3.875%
Senior unsecured notes, due year	2028	2028
Level 2 [Member] | Fair Value [Member] | Senior Unsecured Notes Due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes, interest rate	3.875%	3.875%
Senior unsecured notes, due year	2028	2028

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
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 2028 [Member]
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Senior unsecured notes, due year			2028		2028

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Activity in Stockholders' Equity (Detail) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 240,462	$ 233,696	$ 238,233	$ 261,868	$ 261,945	$ 307,519	$ 238,233	$ 307,519
Beginning Balances, shares			40,242,711				40,242,711
Stock-based compensation	1,057	942	$ 1,601	639	1,004	1,652
Cash dividends declared on common stock ($0.275 per share)	(9,964)	(9,943)	(9,854)	(9,947)	(9,896)	(9,789)
Issuance of common stock, net of restricted stock forfeitures	1			2		1
Repurchase of shares of restricted common stock	(1,670)		(435)	(906)		(470)
Restricted stock forfeitures		1
Net income (loss)	29,537	15,766	4,151	10,103	8,815	$ (36,968)	$ 49,454	(18,050)
Accounting standards update extensible list						Topic 842 [Member]
Ending Balances	$ 259,423	240,462	233,696	261,759	261,868	$ 261,945	$ 259,423	261,759
Ending Balances, shares	40,354,671						40,354,671
Common Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 402	$ 401	$ 401	$ 399	$ 399	$ 398	$ 401	$ 398
Beginning Balances, shares	40,278,843	40,288,138	40,242,711	40,013,557	40,020,289	39,921,838	40,242,711	39,921,838
Issuance of common stock, net of restricted stock forfeitures	$ 1			$ 2		$ 1
Issuance of common stock, net of restricted stock forfeitures, shares	75,828		45,427	232,149		98,451
Restricted stock forfeitures		$ 1
Restricted stock forfeitures, shares		(9,295)			(6,732)
Ending Balances	$ 403	$ 402	$ 401	$ 401	$ 399	$ 399	$ 403	$ 401
Ending Balances, shares	40,354,671	40,278,843	40,288,138	40,245,706	40,013,557	40,020,289	40,354,671	40,245,706
Additional Paid-in Capital [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 242,749	$ 241,807	$ 240,206	$ 238,500	$ 237,496	$ 235,844	$ 240,206	$ 235,844
Stock-based compensation	1,057	942	1,601	639	1,004	1,652
Ending Balances	243,806	242,749	241,807	239,139	238,500	237,496	243,806	239,139
Treasury Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	(66,623)	(66,623)	(66,188)	(65,253)	(65,253)	(64,783)	(66,188)	(64,783)
Repurchase of shares of restricted common stock	(1,670)		(435)	(906)		(470)
Ending Balances	(68,293)	(66,623)	(66,623)	(66,159)	(65,253)	(65,253)	(68,293)	(66,159)
Retained Earnings [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	63,934	58,111	63,814	88,222	89,303	136,060	63,814	136,060
Cash dividends declared on common stock ($0.275 per share)	(9,964)	(9,943)	(9,854)	(9,947)	(9,896)	(9,789)
Net income (loss)	29,537	15,766	4,151	10,103	8,815	(36,968)
Ending Balances	$ 83,507	$ 63,934	$ 58,111	$ 88,378	$ 88,222	$ 89,303	$ 83,507	$ 88,378

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Activity in Stockholders' Equity (Parenthetical) (Detail) - $ / shares	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
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	48,852		12,624	48,751		26,392
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, 2021USD ($)shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense related to non-vested stock | $	$ 7.1
Expected non-vested stock recognized over a weighted-average period	2 years 1 month 6 days
2016 Stock-Based Incentive Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-Based incentive compensation plan | shares	1,212,581

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Non-Vested Stock Activity (Detail)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Non-vested stock, beginning balance, Number of Shares | shares	524,876
Granted, Number of Shares | shares	202,687
Vested, Number of Shares | shares	(186,042)
Forfeited, Number of Shares | shares	(60,002)
Non-vested stock, ending balance, Number of Shares | shares	481,519
Non-vested stock, beginning balance, Weighted Average Grant Date Fair Value | $ / shares	$ 23
Granted, Weighted Average Grant Date Fair Value | $ / shares	33.28
Vested, Weighted Average Grant Date Fair Value | $ / shares	26.83
Forfeited, Weighted Average Grant Date Fair Value | $ / shares	25.30
Non-vested stock, ending balance, Weighted Average Grant Date Fair Value | $ / shares	$ 25.56

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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Compensation expense	$ 1,057	$ 639	$ 3,600	$ 3,295

Income (Loss) per Share - Addit

Income (Loss) per Share - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Restricted common shares, percentage	0.70%	0.70%	0.70%	0.70%

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, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Line Items]
Net income (loss) from continuing operations	$ 24,728			$ 7,983			$ 38,834	$ (25,063)
Net income from discontinued operations	4,809			2,120			10,620	7,013
Net income (loss)	$ 29,537	$ 15,766	$ 4,151	$ 10,103	$ 8,815	$ (36,968)	$ 49,454	$ (18,050)
Weighted average number of common shares outstanding:
Basic	36,296			36,110			36,232	36,035
Diluted	36,436			36,249			36,420	36,035
Basic:
Continuing operations	$ 0.68			$ 0.22			$ 1.07	$ (0.70)
Discontinued operations	0.13			0.06			0.29	0.19
Net income (loss) per share	0.81			0.28			1.36	(0.50)
Diluted:
Continuing operations	0.68			0.22			1.07	(0.70)
Discontinued operations	0.13			0.06			0.29	0.19
Net income (loss) per share	$ 0.81			$ 0.28			$ 1.36	$ (0.50)
Non-vested restricted stock [Member]
Weighted average number of common shares outstanding:
Effect of dilutive non-vested restricted stock	140			139			188
Common shares excluded from the denominator as anti-dilutive:
Non-vested restricted stock	91			190			30	189

Senior Secured Credit Facility

Senior Secured Credit Facility - Additional Information (Detail)	Sep. 30, 2021USD ($)
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]
Line of credit	0
Available borrowings under our senior secured credit facility	741,300,000
Outstanding letters of credit	$ 8,700,000

Senior Unsecured Notes - Additi

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

Senior Unsecured Notes - Reconc

Senior Unsecured Notes - Reconciliation of Senior Unsecured Notes to Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended		11 Months Ended	12 Months Ended
	Dec. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 14, 2020	Dec. 31, 2020
Debt Instrument [Line Items]
Senior unsecured notes, beginning balance		$ 1,238,660
Amortization of deferred financing costs		729	$ 755
Senior unsecured notes, ending balance	$ 1,238,660	1,239,606			$ 1,238,660
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Senior unsecured notes, beginning balance		1,238,660	$ 945,566	$ 945,566	945,566
Senior unsecured notes, ending balance	1,238,660	1,239,606			1,238,660
Senior Unsecured Notes [Member] | 5.625% Senior Notes [Member]
Debt Instrument [Line Items]
Accretion of discount				1,466
Amortization of note premium				(1,011)
Amortization of deferred financing costs				$ 293
Aggregate principal amount paid on Old Notes					(950,000)
Writeoff of unaccreted discount on Old Notes					7,225
Writeoff of unamortized premium on Old Notes					(4,988)
Writeoff of deferred financing costs on Old Notes					1,449
Senior Unsecured Notes [Member] | 3.875% Senior Notes [Member]
Debt Instrument [Line Items]
Accretion of discount	53	879
Additional deferred financing costs		(136)
Amortization of deferred financing costs	$ 11	$ 203
Aggregate principal amount issued on New Notes					1,250,000
Notes discount and deferred transaction costs on New Notes					$ (11,404)

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Net operating lease right-of-use assets	$ 153,677	$ 152,662
Net finance lease right-of-use assets	81	203
Operating lease liabilities	157,537	156,282
Finance lease liabilities	$ 111	$ 305
Weighted average remaining lease term for operating leases	8 years 10 months 24 days
Weighted average remaining lease term for finance leases	6 months
Weighted average discount rate for operating leases	6.30%
Weighted average discount rate for finance leases	5.90%
Future minimum operating lease payments 2021	$ 100
Future minimum operating lease payments 2022	600
Future minimum operating lease payments 2023	600
Future minimum operating lease payments 2024	600
Future minimum operating lease payments 2025	600
Future minimum operating lease payments thereafter	$ 4,000

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2021Customer	Sep. 30, 2020Customer	Sep. 30, 2021CustomerSegment	Sep. 30, 2020Customer
Segment Reporting [Abstract]
Number of reportable segment | Segment			5
Sales to international customers	0.20%	0.20%	0.20%	0.30%
Customer accounted for more than 10% of revenue | Customer	0	0	0	0

Segment Information - Schedule

Segment Information - Schedule of Information about Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Segment Revenues:
Revenues	$ 275,436	$ 251,913	$ 781,545	$ 739,255
Segment Gross Profit:
Total gross profit	113,908	88,009	297,140	262,946
Segment identified assets:
Assets held for sale	110,900		110,900		$ 121,455
Total assets	2,050,914		2,050,914		1,980,484
Operating Segments [Member]
Segment Revenues:
Revenues	273,737	250,284	776,554	733,852
Segment Gross Profit:
Total gross profit	114,024	87,986	297,045	262,979
Segment identified assets:
Total assets	1,177,676		1,177,676		1,031,313
Operating Segments [Member] | Equipment Rentals [Member]
Segment Revenues:
Revenues	197,184	161,461	526,014	481,563
Segment Gross Profit:
Total gross profit	90,009	63,946	221,415	191,210
Segment identified assets:
Total assets	1,112,056		1,112,056		989,423
Operating Segments [Member] | New Equipment Sales [Member]
Segment Revenues:
Revenues	19,355	27,827	70,161	79,957
Segment Gross Profit:
Total gross profit	2,409	3,058	8,585	8,759
Operating Segments [Member] | Used Equipment Sales [Member]
Segment Revenues:
Revenues	31,071	36,216	105,746	94,890
Segment Gross Profit:
Total gross profit	11,688	11,012	37,320	30,771
Segment identified assets:
Total assets	52,247		52,247		32,047
Operating Segments [Member] | Parts Sales [Member]
Segment Revenues:
Revenues	17,503	16,291	49,939	50,197
Segment Gross Profit:
Total gross profit	4,294	4,237	13,224	13,689
Operating Segments [Member] | Services Revenues [Member]
Segment Revenues:
Revenues	8,624	8,489	24,694	27,245
Segment Gross Profit:
Total gross profit	5,624	5,733	16,501	18,550
Operating Segments [Member] | Parts and Services [Member]
Segment identified assets:
Total assets	13,373		13,373		9,843
Non-Segmented [Member]
Segment Revenues:
Revenues	1,699	1,629	4,991	5,403
Segment Gross Profit:
Total gross profit	(116)	$ 23	95	$ (33)
Segment identified assets:
Total assets	$ 762,338		$ 762,338		$ 827,716

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Crane Business [Member]	Oct. 01, 2021	Jul. 19, 2021
Subsequent Event [Line Items]
Sale of business, transaction closing date		Oct. 1, 2021
Subsequent Event [Member]
Subsequent Event [Line Items]
Sale of business, transaction closing date	Oct. 1, 2021