Neff Inactive 10-Q7 May 152015 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2015	1-May-15
Entity Information [Line Items]
Entity Registrant Name	Neff Corp
Entity Central Index Key	1617667
Current Fiscal Year End Date	-19
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE
Common Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		10,476,190
Common Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		14,951,625

UNAUDITED_CONDENSED_CONSOLIDAT

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
ASSETS
Cash and cash equivalents	$222	$207	$163	$190
Accounts receivable, net of allowance for doubtful accounts of $2,346 in 2015 and $2,125 in 2014	52,711	66,375
Inventories	2,939	2,005
Rental equipment, net	453,587	420,245
Property and equipment, net	31,370	30,210
Prepaid expenses and other assets	18,549	16,959
Goodwill	58,765	58,765
Intangible assets, net	16,279	16,600
Total assets	634,422	611,366
Liabilities
Accounts payable	36,463	27,389
Accrued expenses and other liabilities	32,228	31,203
Revolving credit facility	254,000	245,200
Second lien loan, net of original issue discount	476,772	476,713
Payable pursuant to tax receivable agreement	32,078	31,557
Deferred tax liability, net	5,585	5,405
Total liabilities	837,126	817,467
Stockholders' deficit
Additional paid-in capital	-112,468	-112,185
Retained earnings	2,528	1,599
Total stockholders' deficit	-109,685	-110,331
Non-controlling interest	-93,019	-95,770
Total stockholders' deficit and non-controlling interest	-202,704	-206,101
Total liabilities and stockholders' deficit and non-controlling interest	634,422	611,366
Common Class A
Stockholders' deficit
Common stock	105	105
Common Class B
Stockholders' deficit
Common stock	$150	$150

UNAUDITED_CONDENSED_CONSOLIDAT1

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Accounts receivable, allowance for doubtful accounts	$2,346	$2,125
Common Class A
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	10,476,190	10,476,190
Common stock, shares outstanding	10,476,190	10,476,190
Common Class B
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	14,951,625	14,951,625
Common stock, shares outstanding	14,951,625	14,951,625

UNAUDITED_CONDENSED_CONSOLIDAT2

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		1 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Revenues
Rental revenues	$74,141	$69,129
Equipment sales	6,787	5,327
Parts and service	3,158	3,277
Total revenues	84,086	77,733
Cost of revenues
Cost of equipment sold	4,332	3,138
Depreciation of rental equipment	19,514	18,187
Cost of rental revenues	17,859	18,316
Cost of parts and service	1,763	2,043
Total cost of revenues	43,468	41,684
Gross profit	40,618	36,049
Other operating expenses
Selling, general and administrative expenses	22,290	20,096
Other depreciation and amortization	2,461	2,246
Total other operating expenses	24,751	22,342
Income from operations	15,867	13,707
Other expenses
Interest expense	10,514	6,803
Adjustment to tax receivable agreement	521	0
Unrealized loss on interest rate swap	888	0
Amortization of debt issue costs	371	1,327
Total other expenses	12,294	8,130
Income before income taxes	3,573	5,577
Provision for income taxes	-245	-119
Net income	3,328	5,458
Less: net income attributable to non-controlling interest	2,399	5,458
Net income attributable to Neff Corporation	$929	$0
Common Class A
Net income attributable to Neff Corporation per share of Class A common stock (in dollars per share)
Basic	$0.09
Diluted	$0.08
Weighted average shares of Class A common stock outstanding (in shares)
Basic	10,476		10,476
Diluted	12,031

UNAUDITED_CONDENSED_CONSOLIDAT3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT AND NON-CONTROLLING INTEREST (USD $)	Total	Common Class A	Common Class B	Common Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Non-controlling Interest
In Thousands, except Share data, unless otherwise specified	USD ($)			Common Class A	Common Class B	USD ($)	USD ($)	USD ($)
				USD ($)	USD ($)
Beginning balance at Dec. 31, 2014	($206,101)			$105	$150	($112,185)	$1,599	($95,770)
Beginning balance (in shares) at Dec. 31, 2014		10,476,190	14,951,625	10,476,000	14,952,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Payment of costs directly associated with the issuance of Class A common stock	-283					-283
Equity-based compensation	352							352
Net income	3,328						929
Net income attributable to non-controlling interest	2,399
Ending balance at Mar. 31, 2015	($202,704)			$105	$150	($112,468)	$2,528	($93,019)
Ending balance (in shares) at Mar. 31, 2015		10,476,190	14,951,625	10,476,000	14,952,000

UNAUDITED_CONDENSED_CONSOLIDAT4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash Flows from Operating Activities
Net income	$3,328	$5,458
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	21,654	20,057
Amortization of debt issue costs	371	1,327
Amortization of intangible assets	321	376
Amortization of original issue discount on second lien loan	59	0
Gain on sale of equipment	-2,455	-2,189
Provision for bad debt	664	709
Equity-based compensation	352	264
Deferred income taxes	180	0
Adjustment to tax receivable agreement	521	0
Unrealized loss on interest rate swap	888	0
Changes in operating assets and liabilities:
Accounts receivable	13,000	4,970
Inventories, prepaid expenses and other assets	-2,895	-2,938
Accounts payable	1,394	1,809
Accrued expenses and other liabilities	-3,438	4,514
Net cash provided by operating activities	33,944	34,357
Cash Flows from Investing Activities
Purchases of rental equipment	-45,888	-30,956
Proceeds from sale of equipment	6,787	5,327
Purchases of property and equipment	-3,345	-7,733
Net cash used in investing activities	-42,446	-33,362
Cash Flows from Financing Activities
Repayments under revolving credit facility	-35,611	-32,400
Borrowings under revolving credit facility	44,411	31,300
Debt issue costs	0	78
Payment of costs directly associated with the issuance of Class A common stock	-283	0
Net cash provided by (used in) financing activities	8,517	-1,022
Net increase (decrease) in cash and cash equivalents	15	-27
Cash and cash equivalents, beginning of year	207	190
Cash and cash equivalents, end of year	$222	$163

BUSINESS_AND_ORGANIZATION

BUSINESS AND ORGANIZATION	3 Months Ended
BUSINESS AND ORGANIZATION	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS AND ORGANIZATION	BUSINESS AND ORGANIZATION

	Neff Corporation was formed as a Delaware corporation on August 18, 2014. On November 26, 2014, Neff Corporation completed an initial public offering (the "IPO") of 10,476,190 shares of Class A common stock at a public offering price of $15.00 per share. A portion of the gross proceeds received by Neff Corporation from the IPO were used to purchase common membership units ("Common Units") in Neff Holdings LLC, ("Neff Holdings") which was wholly owned by Wayzata Investment Partners ("Wayzata") prior to the IPO. After completion of the IPO and the subsequent purchase of its ownership interest in Neff Holdings, Neff Corporation owns 41.2% of the Common Units in Neff Holdings. We refer to these transactions as the “Organizational Transactions.” Neff Corporation's only business is to act as the sole managing member of Neff Holdings. As a result, Neff Corporation consolidates Neff Holdings including all periods presented. Neff Corporation and its consolidated subsidiaries, including Neff Holdings, are referred to as "the Company."

	The Company owns and operates equipment rental locations in the United States. The Company also sells used equipment, parts and merchandise and provides ongoing repair and maintenance services.
	All intercompany transactions and balances have been eliminated in consolidation.

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION
	Basis of Presentation

	The accompanying condensed consolidated financial statements are unaudited and comprise the condensed consolidated financial statements of the Company and have been prepared in conformity with accounting principles generally accepted in the United States (“US GAAP”) and with Article 10 of Regulation S-X. In compliance with those instructions, certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with US GAAP have been condensed or omitted. The accompanying unaudited condensed consolidated financial statements are presented on a consolidated basis. All significant intercompany accounts and transactions have been eliminated. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal and recurring adjustments necessary to present fairly the Company’s balance sheet as of March 31, 2015 and December 31, 2014, the results of its operations and cash flows for the three months ended March 31, 2015 and 2014, and changes in its stockholders’ deficit for the three months ended March 31, 2015. Interim results may not be indicative of full year performance. The Company believes that the disclosures herein are adequate so that the information presented is not misleading; however, these unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.

	Unaudited Condensed Consolidated Financial Statements

	•	Balance Sheets - The assets, liabilities and equity of Neff Corporation and Neff Holdings have been consolidated and carried forward at historical values;

	•	Statements of Operations - The consolidated statements of operations include the historical consolidated statements of operations of Neff Holdings consolidated with the statement of operations of Neff Corporation;

	•	Statement of Stockholders' Deficit - Following the IPO, Wayzata retained a portion of its economic interest in Neff Holdings directly through the ownership of Neff Holdings common units and these interests are included within the non-controlling interest subsequent to the IPO; and

	•	Statements of Cash Flows - The statements of cash flows include the historical consolidated statements of cash flows of Neff Holdings consolidated with the statement of cash flows of Neff Corporation.

	Use of Estimates

	The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company considers


	NOTE 2—BASIS OF PRESENTATION (Continued)
	critical accounting estimates to be those that require more significant judgments in the preparation of the unaudited condensed consolidated financial statements including those related to depreciation, bad debts, income taxes, self-insurance reserves, goodwill and intangible assets, derivative financial instruments, contingencies and amounts payable pursuant to the tax receivable agreement ("Tax Receivable Agreement") (Note 3). Management relies on historical experience and other assumptions, believed to be reasonable under the circumstances, in making its judgments and estimates. Actual results could differ from those judgments and estimates.

	Goodwill and Intangible Assets

	Goodwill and trademarks and tradenames are reviewed at least annually (October 1 annual test date) for impairment. Acquired intangible assets with finite useful lives (customer list) are amortized over their useful lives (see Note 5). The Company expenses costs to renew or extend the term of a recognized intangible asset.
	Segment Reporting
	The Company's operations consist of the rental and sale of equipment, and parts and services in five regions in the United States: Florida, Atlantic, Central, Southeastern and Western. The five regions are the Company's operating segments and are aggregated into one reportable segment. The Company operates in the United States and had minimal international sales for each of the periods presented.

	Comprehensive Income (Loss)

	The Company had no items of other comprehensive income (loss) in any of the periods presented.
	Recently Issued Accounting Pronouncements
	Under the Jumpstart Our Business Startups Act (“JOBS Act”), the Company meets the definition of an emerging growth company. Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has irrevocably elected to avail itself of this exemption from adopting new or revised accounting standards and, therefore, will not be subject to new or revised accounting standards until such time as those standards apply to private companies. There were no significant new accounting pronouncements that the Company adopted during the three months ended March 31, 2015.

	In April 2015, Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2015-03 Interest-Imputation of Interest ("ASU 2015-03") which provides guidance on the presentation of debt issuance costs. This guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability and amortization of debt issuance costs will be reported as interest expense. This guidance is effective for private companies for fiscal years after December 15, 2015, and interim periods within fiscal years beginning after December 15, 2016, and requires application on a retrospective basis. The Company expects to adopt this guidance when effective for private companies, and does not expect this guidance to have a material impact on its financial statements, although it will change the financial statement classification of debt issuance costs. As of March 31, 2015, $10.1 million of debt issuance costs were included in total assets in the Company's unaudited condensed consolidated balance sheet.

NONCONTROLLING_INTEREST

NON-CONTROLLING INTEREST	3 Months Ended
	Mar. 31, 2015
Noncontrolling Interest [Abstract]
NON-CONTROLLING INTEREST	NON-CONTROLLING INTEREST

	Following the IPO, Neff Corporation became Neff Holdings sole managing member. As a result, Neff Corporation operates and controls all of the business and affairs of Neff Holdings while owning a 41.2% minority economic interest in Neff Holdings. Therefore, on November 26, 2014, Neff Corporation began to consolidate the financial results of Neff Holdings and its subsidiaries and to record a non-controlling interest for the remaining 58.8% economic interest in Neff Holdings held by Wayzata. On a stand alone basis, Neff Corporation's only sources of cash flow from operations are distributions from Neff Holdings. Net income attributable to the non-controlling interest on the unaudited condensed consolidated statements of operations represents the portion of earnings attributable to the economic interest in Neff Holdings held by the non-controlling unitholders. As of November 26, 2014 (immediately prior to the IPO), the non-controlling interest on the unaudited condensed consolidated balance sheets represents the carryover basis of Wayzata's capital account in Neff Holdings. Prospectively, non-controlling interest on the unaudited condensed consolidated balance sheets is adjusted to reflect the distributions to and income allocated to the non-controlling unitholders. The ownership of the Common Units is summarized as follows:


	NOTE 3—NON-CONTROLLING INTEREST (Continued)



		Non-controlling ownership of Common Units in Neff Holdings			Neff Corporation ownership of Common Units in Neff Holdings		Total
	As of March 31, 2015 and December 31, 2014	14,951,625			10,476,190		25,427,815

		58.8	%		41.2	%	100	%

	The balance of the non-controlling interest as of December 31, 2014 and March 31, 2015 is as follows (in thousands):


	Balance of non-controlling interest as of December 31, 2014	$	(95,770	)
	Equity-based compensation	352

	Net income attributable to non-controlling interest	2,399

	Balance of non-controlling interest as of March 31, 2015	$	(93,019	)

	Distributions for Taxes

	As a limited liability company (treated as a partnership for income tax purposes), Neff Holdings does not incur significant federal or state and local income taxes, as these taxes are primarily the obligations of the members of Neff Holdings. As authorized by the Neff Holdings LLC agreement, Neff Holdings is required to distribute cash, generally, on a pro rata basis, to its members to the extent necessary to cover the members’ tax liabilities, if any, with respect to their share of Neff Holdings earnings.

	Payments Pursuant to the Tax Receivable Agreement

	As of March 31, 2015, the Company recorded a liability of $32.1 million, representing the estimated payments due to Wayzata and the individuals who held options granted by Neff Holdings (collectively, our "Prior LLC Owners") under the Tax Receivable Agreement with our Prior LLC Owners as a result of the special allocation of depreciation and amortization deductions in excess of our pro rata share of such items. The liability as of March 31, 2015 increased by $0.5 million from December 31, 2014, due to changes in estimated future payments as a result of the tax benefit Neff Corporation will obtain as a result of the special allocation of gain, to Wayzata, resulting from the disposition of fleet assets that existed at the date of the IPO, in accordance with Section 704(c) of the Internal Revenue Code. The change in estimate is recorded in other expenses in the unaudited condensed consolidated statements of operations. The Company expects these changes will likely occur quarterly.

	No amounts were paid pursuant to the terms of the Tax Receivable Agreement during the three months ended March 31, 2015.

	Payments are anticipated to be made under the Tax Receivable Agreement, when Neff Corporation realizes a benefit, with the first potential payment becoming due on the original due date of Neff Corporation's federal income tax return. The payments are to be made in accordance with the terms of the Tax Receivable Agreement. The timing of the payments is subject to certain contingencies including Neff Corporation having sufficient taxable income to utilize all of the tax benefits defined in the Tax Receivable Agreement.

	Obligations pursuant to the Tax Receivable Agreement are obligations of Neff Corporation and not of Neff Holdings. They do not impact the non-controlling interest. These obligations are not income tax obligations and have no impact on the tax provision or the allocation of taxes. In general, items of income, gain, loss and deduction are allocated on the basis of member’s ownership interests pursuant to the Neff Holdings LLC agreement after taking into consideration all relevant sections of the Internal Revenue Code.

EARNINGS_PER_SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE

	Basic earnings per share is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing net income available to common stockholders by the weighted-average number of common shares plus the effect of dilutive potential common shares outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):


		For the Three Months Ended March 31, 2015
	Numerator:
	Net income attributable to Neff Corporation	$	929

	Denominator for basic net income per share of Class A common stock:
	Weighted average shares of Class A common stock outstanding	10,476

	Denominator for diluted net income per share of Class A common stock:
	Weighted average shares of Class A common stock outstanding	10,476

	Add dilutive effect of the following:

	Neff Holdings options (redeemable for cash or Class A common stock)	1,265

	Neff Corporation stock options	290

	Weighted average shares of Class A common stock outstanding, diluted	12,031

	Earnings per share of Class A common stock:
	Net income attributable to Neff Corporation per share of Class A common stock, basic	$	0.09

	Net income attributable to Neff Corporation per share of Class A common stock, diluted	$	0.08


	Basic and diluted earnings per share information is not applicable for reporting periods prior to the completion of the IPO on November 26, 2014. The shares of Class B common stock outstanding do not share in the earnings of Neff Corporation and is therefore not a participating security. Accordingly, basic and diluted net income per share of Class B common stock has not been presented. The Company has not excluded any options because their impact would be anti-dilutive.

INTANGIBLE_ASSETS

INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	INTANGIBLE ASSETS
	The carrying amount and accumulated amortization of intangible assets as of March 31, 2015 and December 31, 2014, consisted of the following (in thousands, except as noted):


				March 31, 2015
		Average		Gross		Accumulated			Net
		Useful Life		Carrying		Amortization			Book Value
		(in years)		Amount
	Indefinite life:

	Trademarks and tradenames	N/A		$	10,854	$	—		$	10,854

	Finite life:

	Customer list	12		13,987		(8,562		)	5,425

	Total intangible assets			$	24,841	$	(8,562	)	$	16,279







	NOTE 5—INTANGIBLE ASSETS (Continued)


				December 31, 2014
		Average		Gross		Accumulated			Net
		Useful Life		Carrying		Amortization			Book Value
		(in years)		Amount
	Indefinite life:

	Trademarks and tradenames	N/A		$	10,854	$	—		$	10,854

	Finite life:

	Customer list	12		13,987		(8,241		)	5,746

	Total intangible assets			$	24,841	$	(8,241	)	$	16,600

	The customer list is amortized on an accelerated basis, based on estimated cash flows over the useful life of the customer list. Accumulated amortization and expected future annual amortization expense are as follows (in thousands):


	Accumulated amortization at March 31, 2015	$	8,562

	Estimated amortization expense

	Remainder of 2015	965

	2016	1,070

	2017	877

	2018	719

	2019	589

	2020 through 2022	1,205

	Total	$	13,987

	Amortization expense related to the customer list was $0.3 million and $0.4 million for the three months ended March 31, 2015 and 2014, respectively.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
DEBT	DEBT
	Debt consisted of the following as of March 31, 2015 and December 31, 2014 (in thousands, except percent data):


		31-Mar-15		December 31, 2014
	Revolving Credit Facility with interest ranging from the lender's prime rate plus up to 1.5% to LIBOR plus up to 2.5% (2.5% at March 31, 2015)	$	254,000	$	245,200

	Second Lien Loan with interest of LIBOR plus 6.25%, with 1.0% LIBOR floor, net of unamortized discount of $2,228 (7.25% at March 31, 2015)	476,772		476,713

	Total indebtedness	$	730,772	$	721,913


	On October 1, 2010, Neff Rental LLC and Neff LLC (subsidiaries of Neff Holdings) entered into its senior secured revolving credit facility (the “Revolving Credit Facility”) as co-borrowers. The obligations under the Revolving Credit Facility are guaranteed by Neff Holdings. The Revolving Credit Facility is secured by a first priority security interest in substantially all of the Company’s assets. Interest on any base rate loans under the Revolving Credit Facility is due quarterly and interest on any LIBOR rate loans under the Revolving Credit Facility is due at three month intervals or, if shorter, at the end of the selected LIBOR period. Availability under the Revolving Credit Facility is subject to a borrowing base formula consisting of eligible accounts receivable and eligible rental fleet.

	In May 2011, Neff Rental LLC and Neff Rental Finance Corp. (subsidiary of Neff Holdings), as co-issuers, completed a private offering of $200.0 million aggregate principal amount of 9.625% Senior Secured Notes (the “Senior Secured Notes”). Neff Rental Finance Corp. was formed in April 2011 for the sole purpose of co-issuing the Senior Secured Notes and had been capitalized with an amount of cash required to satisfy minimum statutory requirements. The terms of the Senior Secured Notes were governed by an indenture. The obligations under the Senior Secured Notes were guaranteed by Neff Holdings and Neff LLC and were secured by a second priority security interest in substantially all of the Company’s assets. Interest on the Senior Secured Notes
	NOTE 6—DEBT (Continued)

	was payable in cash semi-annually in arrears on May 15 and November 15 of each year. The Senior Secured Notes maturity date was May 15, 2016. The Senior Secured Notes were repaid in full on June 9, 2014. Following the repayment of the Senior Secured Notes, Neff Rental Finance Corp. was dissolved on July 18, 2014.

	On March 12, 2012, the Revolving Credit Facility was amended (the “March 2012 Amendment”). The March 2012 Amendment increased total borrowing capacity to $200.0 million, provided for a mechanism whereby the Company could request (but the lenders under the Revolving Credit Facility have no obligation to provide) up to $100.0 million of incremental revolving loan commitments under the Revolving Credit Facility, reduced applicable margins applicable to loans and other credit extensions, extended the maturity to the earlier of March 12, 2016 and ninety days prior to the maturity date of the Senior Secured Notes and modified the excess availability requirements relating to cash dominion and the implementation of certain financial covenants.

	On October 25, 2012, the Revolving Credit Facility was amended (the “October 2012 Amendment”). The October 2012 Amendment increased total maximum borrowing capacity from $200.0 million to $225.0 million.

	On November 20, 2013, the Revolving Credit Facility was amended and restated (the “2013 Amendment and Restatement”). Among other things, the 2013 Amendment and Restatement increased total maximum borrowing capacity from $225.0 million to $375.0 million, provided for a mechanism whereby the Company could request up to $25.0 million of incremental revolving loan commitments under the Revolving Credit Facility, permitted the payment of a $110.0 million cash distribution to the members of Neff Holdings (the “2013 Distribution”), extended the maturity to the earlier of November 20, 2018 and ninety days prior to the maturity date of the Senior Secured Notes and modified the excess availability requirements relating to cash dominion and the implementation of certain financial covenants and covenants relating to appraisals and field audits. Following the repayment of the Senior Secured Notes, the maturity date of the Revolving Credit Facility is November 20, 2018.

	The obligations under the Second Lien Credit Agreement are guaranteed by Neff Holdings and Neff LLC and are secured by a second priority security interest in substantially all of the Company’s assets. The Second Lien Loan included a $2.9 million original issue discount that will be amortized as interest expense over the term of the Second Lien Loan. The Second Lien Loan has a maturity date of June 9, 2021.

	On June 9, 2014, Neff Rental LLC entered into a second lien credit agreement (the “Second Lien Credit Agreement”) as borrower. Under the terms of the Second Lien Credit Agreement, Neff Rental LLC borrowed $575.0 million of second lien term loans (the “Second Lien Loan”).

	The Company used the net proceeds from the Second Lien Loan to redeem the outstanding Senior Secured Notes, to pay a $329.9 million cash distribution to the members of Neff Holdings (the “June 2014 Distribution”), to pay incentive bonuses earned in connection with consummation of the refinancing to management and certain members of the Company’s board of managers (the “Transaction Bonus”) and to pay fees and expenses. As a result of the repayment of the Senior Secured Notes, the Company recorded a loss on extinguishment of debt of $15.9 million (including $8.7 million of unamortized debt issue costs and $7.2 million for call premiums).

	On June 9, 2014, in connection with entering into the Second Lien Credit Agreement and repayment of the Senior Secured Notes, the Revolving Credit Facility was further amended (the “June 2014 Amendment”). Among other things, the June 2014 Amendment increased total maximum borrowing capacity from $375.0 million to $425.0 million, permitted the payment of the June 2014 Distribution, permitted the payment of the Transaction Bonus, permitted the repayment of the Senior Secured Notes and modified the consolidated total leverage ratio covenant. As of March 31, 2015, total availability under the Revolving Credit Facility was $167.2 million.

	On October 14, 2014, the Revolving Credit Facility and Second Lien Loan were amended in anticipation of and conditional upon completion of the IPO (the "October 2014 Amendments"). The October 2014 Amendments, among other things, reflected the changes in the Company's structure as a result of the Organization Transactions and the IPO. The Company also prepaid $96.0 million of the principal amount of the Second Lien Loan with the net proceeds from the IPO.
	Accumulated amortization at March 31, 2015 for debt issue costs was $3.4 million and $0.5 million for the Revolving Credit Facility and Second Lien Loan, respectively. Accumulated amortization at December 31, 2014 for debt issue costs was $3.2 million and $0.3 million for the Revolving Credit Facility and Second Lien Loan, respectively.

	NOTE 6—DEBT (Continued)

	The Revolving Credit Facility and Second Lien Credit Agreement contain various affirmative, negative and financial reporting covenants. The covenants, among other things, place restrictions on the Company’s ability to acquire and sell assets, incur additional indebtedness and prepay other indebtedness other than the Revolving Credit Facility. The Company is subject to certain financial covenants under its Revolving Credit Facility if availability declines below $42.5 million. The Company was in compliance with all financial covenants under the Revolving Credit Facility and the Second Lien Credit Agreement as of March 31, 2015.

	The Company had $3.7 million and $4.5 million in outstanding letters of credit at March 31, 2015 and December 31, 2014, respectively, that were primarily associated with its insurance coverage.

EQUITYBASED_COMPENSATION

EQUITY-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
EQUITY-BASED COMPENSATION	EQUITY—BASED COMPENSATION
	On November 7, 2014, the Company's Board of Directors adopted the Neff Corporation 2014 Incentive Award Plan (the "2014 Incentive Plan"). The 2014 Incentive Plan became effective on November 7, 2014 and provides for the grant of options, restricted stock awards, performance awards, dividend equivalent awards, deferred stock awards, deferred stock unit awards, stock payment awards or stock appreciation rights to employees, consultants and directors of the Company.

	For the three months ended March 31, 2015, the Company recognized equity-based compensation expense of $0.4 million resulting from restricted stock units and options granted on the IPO date. For the three months ended March 31, 2014, the Company recognized equity-based compensation expense of $0.3 million resulting from Neff Holdings Class B common unit options that were granted to certain employees and directors in 2010. In connection with the IPO, the Neff Holdings LLC Agreement was amended to convert previously issued and outstanding options for Class B common units into options for Common Units on a 1-for-1.625 basis, subject to rounding. Each Common Unit of Neff Holdings can be redeemed for, at Neff Corporations’ option, newly issued shares of Neff Corporations’ Class A common stock on a 1-for-1 basis or for a cash payment equal to the market price of one share of Neff Corporation’ Class A common stock.

	The following table summarizes equity-based compensation activity for the three months ended March 31, 2015 (in thousands):



		Neff Corporation		Neff Holdings
		Restricted Stock Units	Options	Options
	Balance as of January 1, 2015	85	270	1,265

	Granted	4	19	—

	Exercised	—	—	—

	Forfeited	—	—	—

	Balance as of March 31, 2015	89	290	1,265


	Vested	—	—	1,261

	Unvested	89	290	4


	At March 31, 2015, there were 1.1 million additional shares available for the Company to grant under the 2014 Incentive Plan.

DERIVATIVE_FINANCIAL_INSTRUMEN

DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS
	On March 24, 2015, the Company entered into an interest rate swap ("Interest Rate Swap"), effectively converting a portion of its variable rate debt into fixed rate debt. As of March 31, 2015, the Company recorded a liability on its unaudited condensed consolidated balance sheet at a fair value of $0.9 million. The Interest Rate Swap is not accounted for as a hedge and changes in fair value are included directly in the unaudited condensed consolidated statement of operations in other expenses. The Company reduces the accrued swap liability by the amount of the monthly net settlement as settlements are made. Under the

	NOTE 8—DERIVATIVE FINANCIAL INSTRUMENTS (Continued)
	terms of the Interest Rate Swap, a monthly net settlement is made on approximately the 8th of each month for the difference between the fixed rate (see fixed rate schedule) and the variable rate based upon the one month LIBOR rate on the notional amount of the Interest Rate Swap. The Interest Rate Swap has a notional amount of $200.0 million through April 8, 2020.
	The fixed rate follows the schedule below:


	April 8, 2015 to April 7, 2016	0.4726	%
	April 8, 2016 to April 9, 2017	1.157	%
	April 10, 2017 to April 8, 2018	1.681	%
	April 9, 2018 to April 7, 2019	1.961	%
	April 8, 2019 to April 8, 2020	2.143	%
	The Company's transactions in derivative financial instruments are authorized and executed pursuant to its regularly reviewed policies and procedures, which prohibit the use of derivative financial instruments for trading or speculative purposes.
	The $0.9 million unrealized loss on Interest Rate Swap for the three months ended March 31, 2015 was related to the change in fair value of the Interest Rate Swap. The Company did not record a gain or loss on Interest Rate Swap for the three months ended March 31, 2014.
	The following tables provide details regarding the Company's derivative financial instruments (in thousands):


			For the Three Months		For the Three Months
			Ended March 31, 2015		Ended March 31, 2014
			Unrealized loss Recognized in Earnings (a)		Unrealized loss Recognized in Earnings
	Interest Rate Swap		$	888	$	—
	Interest Rate Swap		$	888	$	—



			31-Mar-15		31-Dec-14
			Fair Value of		Fair Value of
			Derivative Liability (b)		Derivative Liability
	Interest Rate Swap (Note 11)		$	888	$	—
	Interest Rate Swap (Note 11)		$	888	$	—




	(a)	Classified in Other expenses—Unrealized loss on interest rate swap

	(b)	Classified in Liabilities—Accrued expenses and other liabilities

INCOME_TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES
	Neff Corporation is required to file federal and applicable state corporate income tax returns and recognizes income taxes on its pre-tax income, which to date has consisted primarily of its share of Neff Holdings pre-tax income. Neff Holdings is a limited liability company that is treated as a partnership for federal and state income tax purposes. Neff Holdings is not subject to income taxes for federal and state purposes. Rather, taxable income or loss is included in the respective federal and state income tax returns of Neff Holdings members.






	NOTE 9—INCOME TAXES (Continued)
	The components of provision for income taxes included in the unaudited condensed consolidated statements of operations for the three months ended March 31, 2015 and 2014 were as follows (in thousands):


		For the Three				For the Three
		Months Ended				Months Ended
		31-Mar-15				31-Mar-14
	Current expense
	Federal	$	—			$	—

	State and local	65				119

	Total current (benefit) expense	$	65			119

	Deferred expense
	Federal	$	(115	)		$	—

	State and local	295				—

	Total deferred expense	180				—

	Total	$	245			$	119


	The following table summarizes the differences between the statutory federal income tax rate and the Company’s effective income tax rate (percent data):


		For the Three			For the Three
		Months Ended			Months Ended
		31-Mar-15			31-Mar-14
	U.S. federal statutory income tax rate	35	%		35	%
	Increase (decrease) in tax rate resulting from:
	State and local income taxes net of federal benefit	5.5			—

	Uncertain tax positions	0.3			2.1

	Permanent book/tax differences	(13.3	)		—

	Change in tax rate	0.5			—

	Non-controlling interest	(20.6	)		(35.0	)
	Other	(1.4	)		—

	Effective tax rate	6	%		2.1	%

	The following table summarizes the tax effects comprising the Company’s net deferred tax assets and liabilities (in thousands):


		31-Mar-15				31-Dec-14
	Deferred Tax Assets
	Net operating loss carryforwards	$	5,545			$	2,535

	Bad debt expense	369				336

	Accrued liabilities	457				902

Equity-based compensation	194				139

Unrealized loss on interest rate swap	140				—

Insurance/parts reserves	555				543

Straight-line rent adjustment	101				100

Uncertain tax positions	106				104

Subtotal	7,467				4,659

Less: valuation allowance	—				—

Total deferred tax assets	$	7,467			$	4,659

Deferred Tax Liabilities
Intangible assets	$	(2,977	)		$	(2,841	)
Deferred debt costs	(270		)		(230		)
Depreciation	(9,805		)		(6,993		)
Total deferred tax liability	$	(13,052	)		$	(10,064	)

Net Deferred Tax Liability	$	(5,585	)		$	(5,405	)

NOTE 9—INCOME TAXES (Continued)
Management periodically assesses the recoverability of its deferred tax assets based upon expected future earnings, future deductibility of the asset and changes in applicable tax laws and other factors. If management determines that it is not probable that the deferred tax asset will be fully recoverable in the future, a valuation allowance may be established for the difference between the asset balance and the amount expected to be recoverable in the future. The allowance will result in a charge to the Company’s unaudited condensed consolidated statements of operations. Based on management’s assessment of the available positive and negative evidence, including future reversal of taxable temporary differences, we believe it is more likely than not that the deferred tax assets will be realized.
On October 1, 2010, Neff Holdings purchased substantially all of the assets of Neff Holdings Corp. and certain of its affiliates (collectively, the "Predecessor") in connection with the Predecessor's bankruptcy cases under chapter 11 of title 11 of the United States Code (the "Acquisition").
In connection with the Acquisition uncertain tax liabilities were assumed by Neff Holdings and are recorded in the Company's accrued expenses as of March 31, 2015 and December 31, 2014. As a taxable entity, the Company recognizes tax benefits for uncertain tax positions only if it is more likely than not that the position is sustainable based on its technical merits. At March 31, 2015 and December 31, 2014, the amount of uncertain tax positions recorded in accrued expenses was approximately $0.4 million.
The Company's practice is to recognize interest and penalties on uncertain tax positions in income tax expense. The Company recognized accrued interest and penalties of $0.3 million as of March 31, 2015 and December 31, 2014. The Company expects to reverse $0.4 million in uncertain tax positions and $0.3 million in interest and penalties during the year ending December 31, 2015.

SUPPLEMENTAL_DISCLOSURE_OF_CAS

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION	3 Months Ended
	Mar. 31, 2015
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION	SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION


		For the Three		For the Three
		Months Ended		Months Ended
		31-Mar-15		31-Mar-14
		(in thousands)
	Supplemental Disclosures of Cash Flow Information

	Cash paid for interest	$	10,495	$	2,065

	Non-cash investing activities:

	Purchases of rental equipment included in accounts payable and other accrued liabilities at year end	$	36,232	$	51,140

FAIR_VALUE_DISCLOSURES

FAIR VALUE DISCLOSURES

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

FAIR VALUE DISCLOSURES

The carrying amounts for accounts receivable, accounts payable and accrued expenses and other liabilities approximate fair value due to their immediate to short-term maturity. The fair value of the Revolving Credit Facility and the Second Lien Loan approximates its carrying value as of March 31, 2015 and December 31, 2014, as variable interest rates approximate market rates.

The Company used the following methods to measure the fair value of certain assets and liabilities:

Interest Rate Swap. The Interest Rate Swap is valued utilizing pricing models taking into account inputs such as interest rates and notional amounts.

The FASB has established a framework for measuring fair value and requires that assets and liabilities measured at fair value be classified and disclosed in one of the following three categories:

Level 1: Quoted market prices in active markets for identical assets or liabilities

Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data

Level 3: Unobservable inputs that are not corroborated by market data

NOTE 11—FAIR VALUE DISCLOSURES (Continued)

The following table provides fair value measurement information of certain financial liabilities measured on a recurring basis as of March 31, 2015 (in thousands):

Fair Value Measurements Using:

Quoted Prices in Active Markets

Observable Inputs

Unobservable Inputs

(Level 1)

(Level 2)

(Level 3)

Interest Rate Swap

—

888

—

The Company entered into the Interest Rate Swap on March 24, 2015.

There were no transfers into or out of Level 1, 2 or 3 during the three months ended March 31, 2015 and 2014.

SUPPLEMENTAL_CONSOLIDATING_STA

SUPPLEMENTAL CONSOLIDATING STATEMENTS	3 Months Ended
	Mar. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
SUPPLEMENTAL CONSOLIDATING STATEMENTS	NEFF CORPORATION AND SUBSIDIARIES
	SUPPLEMENTAL UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
	31-Mar-15
	(in thousands)


		Neff Rental LLC				Neff LLC			Neff Holdings LLC			Neff Corporation				Adjustments / Eliminations				Unaudited Condensed Consolidated
	ASSETS


	Cash and cash equivalents	$	220			$	—		$	—		$	2			$	—			$	222

	Accounts receivable, net	52,711				—			—			—				—				52,711

	Inventories	2,939				—			—			—				—				2,939

	Rental equipment, net	453,587				—			—			—				—				453,587

	Property and equipment, net	31,370				—			—			—				—				31,370

	Prepaid expenses and other assets	18,549				—			—			—				—				18,549

	Goodwill	58,765				—			—			—				—				58,765

	Investment in subsidiary	—				29,707			29,707			150,472				(209,886		)		—

	Intercompany	6,490				—			—			(6,490		)		—				—

	Intangible assets, net	16,279				—			—			—				—				16,279

	Total assets	$	640,910			$	29,707		$	29,707		$	143,984			$	(209,886	)		$	634,422


	LIABILITIES AND STOCKHOLDERS' DEFICIT / MEMBERS' DEFICIT

	Liabilities
	Accounts payable	$	36,463			$	—		$	—		$	—			$	—			$	36,463

	Accrued expenses and other liabilities	32,163				—			—			65				—				32,228

	Revolving credit facility	254,000				—			—			—				—				254,000

	Second lien loan, net	476,772				—			—			—				—				476,772

	Tax receivable agreement liability	—				—			—			32,078				—				32,078

	Deferred tax liability, net	—				—			—			5,585				—				5,585

	Total liabilities	799,398				—			—			37,728				—				837,126


	Stockholders' deficit / members' deficit
	Class A Common Stock	—				—			—			105				—				105

	Class B Common Stock	—				—			—			150								150

	Additional paid-in capital	—				—			—			33,675				(146,143		)		(112,468		)

	Retained earnings	—				—			—			2,528				—				2,528

	Members' deficit	(188,195		)		—			—			—				188,195				—

	Accumulated surplus	29,707				29,707			29,707			—				(89,121		)		—

Total members' deficit / stockholders' deficit	(158,488		)		29,707			29,707			36,458				(47,069		)		(109,685		)

Non-controlling interest	—				—			—			69,798				(162,817		)		(93,019		)

Total stockholders' deficit / members' deficit and non-controlling interest	(158,488		)		29,707			29,707			106,256				(209,886		)		(202,704		)

Total liabilities and stockholders' deficit / members' deficit and non-controlling interest	$	640,910			$	29,707		$	29,707		$	143,984			$	(209,886	)		$	634,422





NEFF CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
31-Dec-14
(in thousands)


	Neff Rental LLC				Neff LLC			Neff Holdings LLC			Neff Corporation				Adjustments / Eliminations				Unaudited Condensed Consolidated
ASSETS


Cash and cash equivalents	$	205			$	—		$	—		$	2			$	—			$	207

Accounts receivable, net	66,375				—			—			—				—				66,375

Inventories	2,005				—			—			—				—				2,005

Rental equipment, net	420,245				—			—			—				—				420,245

Property and equipment, net	30,210				—			—			—				—				30,210

Prepaid expenses and other assets	16,959				—			—			—				—				16,959

Goodwill	58,765				—			—			—				—				58,765

Investment in subsidiary	—				25,627			25,627			148,791				(200,045		)		—

Intercompany	6,206				—			—			(6,206		)		—				—

Intangible assets, net	16,600				—			—			—				—				16,600

Total assets	$	617,570			$	25,627		$	25,627		$	142,587			$	(200,045	)		$	611,366


LIABILITIES AND STOCKHOLDERS' DEFICIT / MEMBERS' DEFICIT

Liabilities
Accounts payable	$	27,389			$	—		$	—		$	—			$	—			$	27,389

Accrued expenses and other liabilities	31,188				—			—			15				—				31,203

Revolving credit facility	245,200				—			—			—				—				245,200

Second lien loan, net	476,713				—			—			—				—				476,713

Tax receivable agreement liability	—				—			—			31,557				—				31,557

Deferred tax liability, net	—				—			—			5,405				—				5,405

Total liabilities	780,490				—			—			36,977				—				817,467


Stockholders' deficit / members' deficit
Class A Common Stock	—				—			—			105				—				105

Class B Common Stock	—				—			—			150								150

Additional paid-in capital	—				—			—			33,958				(146,143		)		(112,185		)

Retained earnings	—				—			—			1,599				—				1,599

Members' deficit	(188,547		)		—			—			—				188,547				—

Accumulated surplus	25,627				25,627			25,627			—				(76,881		)		—

Total members' deficit / stockholders' deficit	(162,920		)		25,627			25,627			35,812				(34,477		)		(110,331		)

Non-controlling interest	—				—			—			69,798				(165,568		)		(95,770		)

Total stockholders' deficit / members' deficit and non-controlling interest	(162,920		)		25,627			25,627			105,610				(200,045		)		(206,101		)

Total liabilities and stockholders' deficit / members' deficit and non-controlling interest	$	617,570			$	25,627		$	25,627		$	142,587			$	(200,045	)		$	611,366





NEFF CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31, 2015
(in thousands)


	Neff Rental LLC				Neff LLC			Neff Holdings LLC			Neff Corporation				Adjustments / Eliminations				Unaudited Condensed Consolidated
Revenues
Rental revenues	$	74,141			$	—		$	—		$	—			$	—			$	74,141

Equipment sales	6,787				—			—			—				—				6,787

Parts and service	3,158				—			—			—				—				3,158

Total revenues	84,086				—			—			—				—				84,086

Cost of revenues
Cost of equipment sold	4,332				—			—			—				—				4,332

Depreciation of rental equipment	19,514				—			—			—				—				19,514

Cost of rental revenues	17,859				—			—			—				—				17,859

Cost of parts and service	1,763				—			—			—				—				1,763

Total cost of revenues	43,468				—			—			—				—				43,468

Gross profit	40,618				—			—			—				—				40,618

Other operating expenses
Selling, general and administrative expenses	22,290				—			—			—				—				22,290

Other depreciation and amortization	2,461				—			—			—				—				2,461

Total other operating expenses	24,751				—			—			—				—				24,751

Income from operations	15,867				—			—			—				—				15,867

Other expenses
Interest expense	10,514				—			—			—				—				10,514

Adjustment to tax receivable agreement	—				—			—			521				—				521

Unrealized loss on interest rate swap	888				—			—			—				—				888

Amortization of debt issue costs	371				—			—			—				—				371

Total other expenses	11,773				—			—			521				—				12,294

Income before income taxes	4,094				—			—			(521		)		—				3,573

Equity earnings in subsidiaries	—				4,080			4,080			1,681				(9,841		)		—

Provision for income taxes	(14		)		—			—			(231		)		—				(245		)

Net income	4,080				4,080			4,080			929				(9,841		)		3,328

Less: net income attributable to non-controlling interest	4,080				4,080			2,399			—				(8,160		)		2,399

Net income attributable to Neff Corporation	$	—			$	—		$	1,681		$	929			$	(1,681	)		$	929

NEFF CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL UNAUDITED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE THREE MONTHS ENDED MARCH 31, 2015

(in thousands)


	Neff Rental LLC				Neff LLC			Neff Holdings LLC			Neff Corporation				Adjustments / Eliminations				Unaudited Condensed Consolidated
Cash Flows from Operating Activities
Net income	$	4,080			$	4,080		$	4,080		$	929			$	(9,841	)		$	3,328

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	21,654				—			—			—				—				21,654

Amortization of debt issue costs	371				—			—			—				—				371

Amortization of intangible assets	321				—			—			—				—				321

Amortization of original issue discount on second lien loan	59				—			—			—				—				59

Gain on sale of equipment	(2,455		)		—			—			—				—				(2,455		)

Provision for bad debt	664				—			—			—				—				664

Equity-based compensation	352				—			—			—				—				352

Deferred income taxes	—				—			—			180				—				180

Adjustment to tax receivable agreement	—				—			—			521				—				521

Unrealized loss on interest rate swap	888				—			—			—				—				888

Equity earnings in subsidiaries	—				(4,080		)	(4,080		)	(1,681		)		9,841				—

Changes in operating assets and liabilities:
Accounts receivable	13,000				—			—			—				—				13,000

Inventories, prepaid expenses and other assets	(2,895		)		—			—			—				—				(2,895		)

Accounts payable	1,394				—			—			—				—				1,394

Accrued expenses and other liabilities	(3,488		)		—			—			50				—				(3,438		)

Net cash provided by (used in) operating activities	33,945				—			—			(1		)		—				33,944

Cash Flows from Investing Activities
Purchases of rental equipment	(45,888		)		—			—			—				—				(45,888		)

Proceeds from sale of equipment	6,787				—			—			—				—				6,787

Purchases of property and equipment	(3,345		)		—			—			—				—				(3,345		)

Net cash used in investing activities	(42,446		)		—			—			—				—				(42,446		)

Cash Flows from Financing Activities
Repayments under revolving credit facility	(35,611		)		—			—			—				—				(35,611		)

Borrowings under revolving credit facility	44,411				—			—			—				—				44,411

Payment of costs directly associated with the issuance of Class A common stock	—				—			—			(283		)		—				(283		)

Intercompany	(284		)		—			—			284				—				—

Net cash provided by (used in) financing activities	8,516				—			—			1				—				8,517

Net increase in cash and cash equivalents	15				—			—			—				—				15

Cash and cash equivalents, beginning of year	205				—			—			2				—				207

Cash and cash equivalents, end of year	$	220			$	—		$	—		$	2			$	—			$	222

BASIS_OF_PRESENTATION_Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Condensed Consolidated Financial Statements	Condensed Consolidated Financial Statements

	•	Balance Sheets - The assets, liabilities and equity of Neff Corporation and Neff Holdings have been consolidated and carried forward at historical values;

	•	Statements of Operations - The consolidated statements of operations include the historical consolidated statements of operations of Neff Holdings consolidated with the statement of operations of Neff Corporation;

	•	Statement of Stockholders' Deficit - Following the IPO, Wayzata retained a portion of its economic interest in Neff Holdings directly through the ownership of Neff Holdings common units and these interests are included within the non-controlling interest subsequent to the IPO; and

	•	Statements of Cash Flows - The statements of cash flows include the historical consolidated statements of cash flows of Neff Holdings consolidated with the statement of cash flows of Neff Corporation
Use of Estimates	Use of Estimates

	The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company considers


	NOTE 2—BASIS OF PRESENTATION (Continued)
	critical accounting estimates to be those that require more significant judgments in the preparation of the unaudited condensed consolidated financial statements including those related to depreciation, bad debts, income taxes, self-insurance reserves, goodwill and intangible assets, derivative financial instruments, contingencies and amounts payable pursuant to the tax receivable agreement ("Tax Receivable Agreement") (Note 3). Management relies on historical experience and other assumptions, believed to be reasonable under the circumstances, in making its judgments and estimates. Actual results could differ from those judgments and estimates.
Goodwill and Intangible Assets	Goodwill and Intangible Assets

	Goodwill and trademarks and tradenames are reviewed at least annually (October 1 annual test date) for impairment. Acquired intangible assets with finite useful lives (customer list) are amortized over their useful lives (see Note 5). The Company expenses costs to renew or extend the term of a recognized intangible asset.
Segment Reporting	Segment Reporting
	The Company's operations consist of the rental and sale of equipment, and parts and services in five regions in the United States: Florida, Atlantic, Central, Southeastern and Western. The five regions are the Company's operating segments and are aggregated into one reportable segment. The Company operates in the United States and had minimal international sales for each of the periods presented.
Comprehensive Income (Loss)	Comprehensive Income (Loss)

	The Company had no items of other comprehensive income (loss) in any of the periods presented.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements
	Under the Jumpstart Our Business Startups Act (“JOBS Act”), the Company meets the definition of an emerging growth company. Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has irrevocably elected to avail itself of this exemption from adopting new or revised accounting standards and, therefore, will not be subject to new or revised accounting standards until such time as those standards apply to private companies. There were no significant new accounting pronouncements that the Company adopted during the three months ended March 31, 2015.

	In April 2015, Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2015-03 Interest-Imputation of Interest ("ASU 2015-03") which provides guidance on the presentation of debt issuance costs. This guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability and amortization of debt issuance costs will be reported as interest expense. This guidance is effective for private companies for fiscal years after December 15, 2015, and interim periods within fiscal years beginning after December 15, 2016, and requires application on a retrospective basis. The Company expects to adopt this guidance when effective for private companies, and does not expect this guidance to have a material impact on its financial statements, although it will change the financial statement classification of debt issuance costs. As of March 31, 2015, $10.1 million of debt issuance costs were included in total assets in the Company's unaudited condensed consolidated balance sheet.

NONCONTROLLING_INTEREST_Tables

NON-CONTROLLING INTEREST - (Tables)	3 Months Ended
	Mar. 31, 2015
Noncontrolling Interest [Abstract]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net	The ownership of the Common Units is summarized as follows:


	NOTE 3—NON-CONTROLLING INTEREST (Continued)



		Non-controlling ownership of Common Units in Neff Holdings			Neff Corporation ownership of Common Units in Neff Holdings		Total
	As of March 31, 2015 and December 31, 2014	14,951,625			10,476,190		25,427,815

		58.8	%		41.2	%	100	%

	The balance of the non-controlling interest as of December 31, 2014 and March 31, 2015 is as follows (in thousands):


	Balance of non-controlling interest as of December 31, 2014	$	(95,770	)
	Equity-based compensation	352

	Net income attributable to non-controlling interest	2,399

	Balance of non-controlling interest as of March 31, 2015	$	(93,019	)

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE - (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):


		For the Three Months Ended March 31, 2015
	Numerator:
	Net income attributable to Neff Corporation	$	929

	Denominator for basic net income per share of Class A common stock:
	Weighted average shares of Class A common stock outstanding	10,476

	Denominator for diluted net income per share of Class A common stock:
	Weighted average shares of Class A common stock outstanding	10,476

	Add dilutive effect of the following:

	Neff Holdings options (redeemable for cash or Class A common stock)	1,265

	Neff Corporation stock options	290

	Weighted average shares of Class A common stock outstanding, diluted	12,031

	Earnings per share of Class A common stock:
	Net income attributable to Neff Corporation per share of Class A common stock, basic	$	0.09

	Net income attributable to Neff Corporation per share of Class A common stock, diluted	$	0.08

INTANGIBLE_ASSETS_Tables

INTANGIBLE ASSETS - (Tables)	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The carrying amount and accumulated amortization of intangible assets as of March 31, 2015 and December 31, 2014, consisted of the following (in thousands, except as noted):


				March 31, 2015
		Average		Gross		Accumulated			Net
		Useful Life		Carrying		Amortization			Book Value
		(in years)		Amount
	Indefinite life:

	Trademarks and tradenames	N/A		$	10,854	$	—		$	10,854

	Finite life:

	Customer list	12		13,987		(8,562		)	5,425

	Total intangible assets			$	24,841	$	(8,562	)	$	16,279







	NOTE 5—INTANGIBLE ASSETS (Continued)


				December 31, 2014
		Average		Gross		Accumulated			Net
		Useful Life		Carrying		Amortization			Book Value
		(in years)		Amount
	Indefinite life:

	Trademarks and tradenames	N/A		$	10,854	$	—		$	10,854

	Finite life:

	Customer list	12		13,987		(8,241		)	5,746

	Total intangible assets			$	24,841	$	(8,241	)	$	16,600

Schedule of Indefinite-Lived Intangible Assets	The carrying amount and accumulated amortization of intangible assets as of March 31, 2015 and December 31, 2014, consisted of the following (in thousands, except as noted):


				March 31, 2015
		Average		Gross		Accumulated			Net
		Useful Life		Carrying		Amortization			Book Value
		(in years)		Amount
	Indefinite life:

	Trademarks and tradenames	N/A		$	10,854	$	—		$	10,854

	Finite life:

	Customer list	12		13,987		(8,562		)	5,425

	Total intangible assets			$	24,841	$	(8,562	)	$	16,279







	NOTE 5—INTANGIBLE ASSETS (Continued)


				December 31, 2014
		Average		Gross		Accumulated			Net
		Useful Life		Carrying		Amortization			Book Value
		(in years)		Amount
	Indefinite life:

	Trademarks and tradenames	N/A		$	10,854	$	—		$	10,854

	Finite life:

	Customer list	12		13,987		(8,241		)	5,746

	Total intangible assets			$	24,841	$	(8,241	)	$	16,600

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Accumulated amortization and expected future annual amortization expense are as follows (in thousands):


	Accumulated amortization at March 31, 2015	$	8,562

	Estimated amortization expense

	Remainder of 2015	965

	2016	1,070

	2017	877

	2018	719

	2019	589

	2020 through 2022	1,205

	Total	$	13,987

DEBT_Tables

DEBT - (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Debt consisted of the following as of March 31, 2015 and December 31, 2014 (in thousands, except percent data):


		31-Mar-15		December 31, 2014
	Revolving Credit Facility with interest ranging from the lender's prime rate plus up to 1.5% to LIBOR plus up to 2.5% (2.5% at March 31, 2015)	$	254,000	$	245,200

	Second Lien Loan with interest of LIBOR plus 6.25%, with 1.0% LIBOR floor, net of unamortized discount of $2,228 (7.25% at March 31, 2015)	476,772		476,713

	Total indebtedness	$	730,772	$	721,913

EQUITYBASED_COMPENSATION_Table

EQUITY-BASED COMPENSATION - (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options and Restricted Stock Units, Activity	The following table summarizes equity-based compensation activity for the three months ended March 31, 2015 (in thousands):



		Neff Corporation		Neff Holdings
		Restricted Stock Units	Options	Options
	Balance as of January 1, 2015	85	270	1,265

	Granted	4	19	—

	Exercised	—	—	—

	Forfeited	—	—	—

	Balance as of March 31, 2015	89	290	1,265


	Vested	—	—	1,261

	Unvested	89	290	4

DERIVATIVE_FINANCIAL_INSTRUMEN1

DERIVATIVE FINANCIAL INSTRUMENTS - (Tables)	3 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS - (Tables)	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives	The fixed rate follows the schedule below:


	April 8, 2015 to April 7, 2016	0.4726	%
	April 8, 2016 to April 9, 2017	1.157	%
	April 10, 2017 to April 8, 2018	1.681	%
	April 9, 2018 to April 7, 2019	1.961	%
	April 8, 2019 to April 8, 2020	2.143	%
Reclassification out of Accumulated Other Comprehensive Income	The following tables provide details regarding the Company's derivative financial instruments (in thousands):


			For the Three Months		For the Three Months
			Ended March 31, 2015		Ended March 31, 2014
			Unrealized loss Recognized in Earnings (a)		Unrealized loss Recognized in Earnings
	Interest Rate Swap		$	888	$	—
	Interest Rate Swap		$	888	$	—



			31-Mar-15		31-Dec-14
			Fair Value of		Fair Value of
			Derivative Liability (b)		Derivative Liability
	Interest Rate Swap (Note 11)		$	888	$	—
	Interest Rate Swap (Note 11)		$	888	$	—




	(a)	Classified in Other expenses—Unrealized loss on interest rate swap

	(b)	Classified in Liabilities—Accrued expenses and other liabilities

INCOME_TAXES_Tables

INCOME TAXES - (Tables)	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The components of provision for income taxes included in the unaudited condensed consolidated statements of operations for the three months ended March 31, 2015 and 2014 were as follows (in thousands):


		For the Three				For the Three
		Months Ended				Months Ended
		31-Mar-15				31-Mar-14
	Current expense
	Federal	$	—			$	—

	State and local	65				119

	Total current (benefit) expense	$	65			119

	Deferred expense
	Federal	$	(115	)		$	—

	State and local	295				—

	Total deferred expense	180				—

	Total	$	245			$	119

Schedule of Effective Income Tax Rate Reconciliation	The following table summarizes the differences between the statutory federal income tax rate and the Company’s effective income tax rate (percent data):


		For the Three			For the Three
		Months Ended			Months Ended
		31-Mar-15			31-Mar-14
	U.S. federal statutory income tax rate	35	%		35	%
	Increase (decrease) in tax rate resulting from:
	State and local income taxes net of federal benefit	5.5			—

	Uncertain tax positions	0.3			2.1

	Permanent book/tax differences	(13.3	)		—

	Change in tax rate	0.5			—

	Non-controlling interest	(20.6	)		(35.0	)
	Other	(1.4	)		—

	Effective tax rate	6	%		2.1	%
Schedule of Deferred Tax Assets and Liabilities	The following table summarizes the tax effects comprising the Company’s net deferred tax assets and liabilities (in thousands):


		31-Mar-15				31-Dec-14
	Deferred Tax Assets
	Net operating loss carryforwards	$	5,545			$	2,535

	Bad debt expense	369				336

	Accrued liabilities	457				902

	Equity-based compensation	194				139

	Unrealized loss on interest rate swap	140				—

	Insurance/parts reserves	555				543

	Straight-line rent adjustment	101				100

	Uncertain tax positions	106				104

	Subtotal	7,467				4,659

	Less: valuation allowance	—				—

	Total deferred tax assets	$	7,467			$	4,659

	Deferred Tax Liabilities
	Intangible assets	$	(2,977	)		$	(2,841	)
	Deferred debt costs	(270		)		(230		)
	Depreciation	(9,805		)		(6,993		)
	Total deferred tax liability	$	(13,052	)		$	(10,064	)

	Net Deferred Tax Liability	$	(5,585	)		$	(5,405	)

SUPPLEMENTAL_DISCLOSURE_OF_CAS1

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION - (Tables)	3 Months Ended
	Mar. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION


		For the Three		For the Three
		Months Ended		Months Ended
		31-Mar-15		31-Mar-14
		(in thousands)
	Supplemental Disclosures of Cash Flow Information

	Cash paid for interest	$	10,495	$	2,065

	Non-cash investing activities:

	Purchases of rental equipment included in accounts payable and other accrued liabilities at year end	$	36,232	$	51,140

FAIR_VALUE_DISCLOSURES_Tables

FAIR VALUE DISCLOSURES - (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Liabilities Measured on Recurring Basis

The following table provides fair value measurement information of certain financial liabilities measured on a recurring basis as of March 31, 2015 (in thousands):

Fair Value Measurements Using:

Quoted Prices in Active Markets

Observable Inputs

Unobservable Inputs

(Level 1)

(Level 2)

(Level 3)

Interest Rate Swap

—

888

—

SUPPLEMENTAL_CONSOLIDATING_STA1

SUPPLEMENTAL CONSOLIDATING STATEMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Balance Sheet	NEFF CORPORATION AND SUBSIDIARIES
	SUPPLEMENTAL UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
	31-Mar-15
	(in thousands)


		Neff Rental LLC				Neff LLC				Neff Holdings LLC				Neff Corporation				Adjustments / Eliminations				Unaudited Condensed Consolidated
	ASSETS


	Cash and cash equivalents	$	220			$	—			$	—			$	2			$	—			$	222

	Accounts receivable, net	52,711				—				—				—				—				52,711

	Inventories	2,939				—				—				—				—				2,939

	Rental equipment, net	453,587				—				—				—				—				453,587

	Property and equipment, net	31,370				—				—				—				—				31,370

	Prepaid expenses and other assets	18,549				—				—				—				—				18,549

	Goodwill	58,765				—				—				—				—				58,765

	Investment in subsidiary	—				29,707				29,707				150,472				(209,886		)		—

	Intercompany	6,490				—				—				(6,490		)		—				—

	Intangible assets, net	16,279				—				—				—				—				16,279

	Total assets	$	640,910			$	29,707			$	29,707			$	143,984			$	(209,886	)		$	634,422


	LIABILITIES AND STOCKHOLDERS' DEFICIT / MEMBERS' DEFICIT

	Liabilities
	Accounts payable	$	36,463			$	—			$	—			$	—			$	—			$	36,463

	Accrued expenses and other liabilities	32,163				—				—				65				—				32,228

	Revolving credit facility	254,000				—				—				—				—				254,000

	Second lien loan, net	476,772				—				—				—				—				476,772

	Tax receivable agreement liability	—				—				—				32,078				—				32,078

	Deferred tax liability, net	—				—				—				5,585				—				5,585

	Total liabilities	799,398				—				—				37,728				—				837,126


	Stockholders' deficit / members' deficit
	Class A Common Stock	—				—				—				105				—				105

	Class B Common Stock	—				—				—				150								150

	Additional paid-in capital	—				—				—				33,675				(146,143		)		(112,468		)

	Retained earnings	—				—				—				2,528				—				2,528

	Members' deficit	(188,195		)		—				—				—				188,195				—

	Accumulated surplus	29,707				29,707				29,707				—				(89,121		)		—

Total members' deficit / stockholders' deficit	(158,488		)		29,707				29,707				36,458				(47,069		)		(109,685		)

Non-controlling interest	—				—				—				69,798				(162,817		)		(93,019		)

Total stockholders' deficit / members' deficit and non-controlling interest	(158,488		)		29,707				29,707				106,256				(209,886		)		(202,704		)

Total liabilities and stockholders' deficit / members' deficit and non-controlling interest	$	640,910			$	29,707			$	29,707			$	143,984			$	(209,886	)		$	634,422





NEFF CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
31-Dec-14
(in thousands)


	Neff Rental LLC				Neff LLC				Neff Holdings LLC				Neff Corporation				Adjustments / Eliminations				Unaudited Condensed Consolidated
ASSETS


Cash and cash equivalents	$	205			$	—			$	—			$	2			$	—			$	207

Accounts receivable, net	66,375				—				—				—				—				66,375

Inventories	2,005				—				—				—				—				2,005

Rental equipment, net	420,245				—				—				—				—				420,245

Property and equipment, net	30,210				—				—				—				—				30,210

Prepaid expenses and other assets	16,959				—				—				—				—				16,959

Goodwill	58,765				—				—				—				—				58,765

Investment in subsidiary	—				25,627				25,627				148,791				(200,045		)		—

Intercompany	6,206				—				—				(6,206		)		—				—

Intangible assets, net	16,600				—				—				—				—				16,600

Total assets	$	617,570			$	25,627			$	25,627			$	142,587			$	(200,045	)		$	611,366


LIABILITIES AND STOCKHOLDERS' DEFICIT / MEMBERS' DEFICIT

Liabilities
Accounts payable	$	27,389			$	—			$	—			$	—			$	—			$	27,389

Accrued expenses and other liabilities	31,188				—				—				15				—				31,203

Revolving credit facility	245,200				—				—				—				—				245,200

Second lien loan, net	476,713				—				—				—				—				476,713

Tax receivable agreement liability	—				—				—				31,557				—				31,557

Deferred tax liability, net	—				—				—				5,405				—				5,405

Total liabilities	780,490				—				—				36,977				—				817,467


Stockholders' deficit / members' deficit
Class A Common Stock	—				—				—				105				—				105

Class B Common Stock	—				—				—				150								150

Additional paid-in capital	—				—				—				33,958				(146,143		)		(112,185		)

Retained earnings	—				—				—				1,599				—				1,599

Members' deficit	(188,547		)		—				—				—				188,547				—

Accumulated surplus	25,627				25,627				25,627				—				(76,881		)		—

Total members' deficit / stockholders' deficit	(162,920		)		25,627				25,627				35,812				(34,477		)		(110,331		)

Non-controlling interest	—				—				—				69,798				(165,568		)		(95,770		)

Total stockholders' deficit / members' deficit and non-controlling interest	(162,920		)		25,627				25,627				105,610				(200,045		)		(206,101		)

Total liabilities and stockholders' deficit / members' deficit and non-controlling interest	$	617,570			$	25,627			$	25,627			$	142,587			$	(200,045	)		$	611,366

Condensed Consolidating Statement of Operations	SUPPLEMENTAL UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
	FOR THE THREE MONTHS ENDED MARCH 31, 2015
	(in thousands)


		Neff Rental LLC				Neff LLC				Neff Holdings LLC				Neff Corporation				Adjustments / Eliminations				Unaudited Condensed Consolidated
	Revenues
	Rental revenues	$	74,141			$	—			$	—			$	—			$	—			$	74,141

	Equipment sales	6,787				—				—				—				—				6,787

	Parts and service	3,158				—				—				—				—				3,158

	Total revenues	84,086				—				—				—				—				84,086

	Cost of revenues
	Cost of equipment sold	4,332				—				—				—				—				4,332

	Depreciation of rental equipment	19,514				—				—				—				—				19,514

	Cost of rental revenues	17,859				—				—				—				—				17,859

	Cost of parts and service	1,763				—				—				—				—				1,763

	Total cost of revenues	43,468				—				—				—				—				43,468

	Gross profit	40,618				—				—				—				—				40,618

	Other operating expenses
	Selling, general and administrative expenses	22,290				—				—				—				—				22,290

	Other depreciation and amortization	2,461				—				—				—				—				2,461

	Total other operating expenses	24,751				—				—				—				—				24,751

	Income from operations	15,867				—				—				—				—				15,867

	Other expenses
	Interest expense	10,514				—				—				—				—				10,514

	Adjustment to tax receivable agreement	—				—				—				521				—				521

	Unrealized loss on interest rate swap	888				—				—				—				—				888

	Amortization of debt issue costs	371				—				—				—				—				371

	Total other expenses	11,773				—				—				521				—				12,294

	Income before income taxes	4,094				—				—				(521		)		—				3,573

	Equity earnings in subsidiaries	—				4,080				4,080				1,681				(9,841		)		—

	Provision for income taxes	(14		)		—				—				(231		)		—				(245		)

	Net income	4,080				4,080				4,080				929				(9,841		)		3,328

	Less: net income attributable to non-controlling interest	4,080				4,080				2,399				—				(8,160		)		2,399

	Net income attributable to Neff Corporation	$	—			$	—			$	1,681			$	929			$	(1,681	)		$	929

Condensed Consolidating Statement of Cash Flow	SUPPLEMENTAL UNAUDITED CONSOLIDATING STATEMENT OF CASH FLOWS

	FOR THE THREE MONTHS ENDED MARCH 31, 2015

	(in thousands)


		Neff Rental LLC				Neff LLC				Neff Holdings LLC				Neff Corporation				Adjustments / Eliminations				Unaudited Condensed Consolidated
	Cash Flows from Operating Activities
	Net income	$	4,080			$	4,080			$	4,080			$	929			$	(9,841	)		$	3,328

	Adjustments to reconcile net income to net cash provided by operating activities:
	Depreciation	21,654				—				—				—				—				21,654

	Amortization of debt issue costs	371				—				—				—				—				371

	Amortization of intangible assets	321				—				—				—				—				321

	Amortization of original issue discount on second lien loan	59				—				—				—				—				59

	Gain on sale of equipment	(2,455		)		—				—				—				—				(2,455		)

	Provision for bad debt	664				—				—				—				—				664

	Equity-based compensation	352				—				—				—				—				352

	Deferred income taxes	—				—				—				180				—				180

	Adjustment to tax receivable agreement	—				—				—				521				—				521

	Unrealized loss on interest rate swap	888				—				—				—				—				888

	Equity earnings in subsidiaries	—				(4,080		)		(4,080		)		(1,681		)		9,841				—

	Changes in operating assets and liabilities:
	Accounts receivable	13,000				—				—				—				—				13,000

	Inventories, prepaid expenses and other assets	(2,895		)		—				—				—				—				(2,895		)

	Accounts payable	1,394				—				—				—				—				1,394

	Accrued expenses and other liabilities	(3,488		)		—				—				50				—				(3,438		)

	Net cash provided by (used in) operating activities	33,945				—				—				(1		)		—				33,944

	Cash Flows from Investing Activities
	Purchases of rental equipment	(45,888		)		—				—				—				—				(45,888		)

	Proceeds from sale of equipment	6,787				—				—				—				—				6,787

	Purchases of property and equipment	(3,345		)		—				—				—				—				(3,345		)

	Net cash used in investing activities	(42,446		)		—				—				—				—				(42,446		)

	Cash Flows from Financing Activities
	Repayments under revolving credit facility	(35,611		)		—				—				—				—				(35,611		)

	Borrowings under revolving credit facility	44,411				—				—				—				—				44,411

	Payment of costs directly associated with the issuance of Class A common stock	—				—				—				(283		)		—				(283		)

	Intercompany	(284		)		—				—				284				—				—

	Net cash provided by (used in) financing activities	8,516				—				—				1				—				8,517

Net increase in cash and cash equivalents	15				—				—				—				—				15

Cash and cash equivalents, beginning of year	205				—				—				2				—				207

Cash and cash equivalents, end of year	$	220			$	—			$	—			$	2			$	—			$	222

BUSINESS_AND_ORGANIZATION_Addi

BUSINESS AND ORGANIZATION - Additional Information (Details) (USD $)	0 Months Ended
	Nov. 26, 2014	Mar. 31, 2015	Dec. 31, 2014
Neff Holdings LLC
Class of Stock [Line Items]
Ownership percentage by parent	41.20%	41.20%	41.20%
IPO [Member] \| Common Class A
Class of Stock [Line Items]
Stock issued during period (in shares)	10,476,190
Price of stock for public offering (in dollars per share)	$15

BASIS_OF_PRESENTATION_Addition

BASIS OF PRESENTATION - Additional Information (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
	segment
Accounting Policies [Abstract]
Number of operating segments correponding to the number of regions in which entity operates	5
Number of reportable segments	1
Deferred debt issuance costs	$10.10

NONCONTROLLING_INTEREST_Schedu

NON-CONTROLLING INTEREST - Schedule of Ownership of Common Units (Details)	Mar. 31, 2015	Dec. 31, 2014	Nov. 26, 2014
Noncontrolling Interest [Line Items]
Aggregate Ownership of Noncontrolling Interest	100.00%	100.00%
Neff Holdings LLC
Noncontrolling Interest [Line Items]
Number of common units	25,427,815	25,427,815
Neff Holdings LLC \| Non-controlling Interest
Noncontrolling Interest [Line Items]
Number of common units	14,951,625	14,951,625
Neff Holdings LLC \| Neff Corporation
Noncontrolling Interest [Line Items]
Number of common units	10,476,190	10,476,190
Neff Holdings LLC
Noncontrolling Interest [Line Items]
Ownership percentage by non-controlling interest	58.80%	58.80%	58.80%
Ownership percentage by parent	41.20%	41.20%	41.20%

NONCONTROLLING_INTEREST_Schedu1

NON-CONTROLLING INTEREST - Schedule of Equity by Non-controlling Interest (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning balance	($95,770)
Equity-based compensation	352
Net income attributable to non-controlling interest	2,399	5,458
Ending balance	-93,019
Non-controlling Interest
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Equity-based compensation	$352

NONCONTROLLING_INTEREST_Additi

NON-CONTROLLING INTEREST - Additional Information (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Nov. 26, 2014
Noncontrolling Interest [Line Items]
Payable pursuant to tax receivable agreement	$32,078		$31,557
Adjustment to tax receivable agreement	$521	$0
Neff Holdings LLC
Noncontrolling Interest [Line Items]
Ownership percentage by parent	41.20%		41.20%	41.20%
Ownership percentage by non-controlling interest	58.80%		58.80%	58.80%

EARNINGS_PER_SHARE_Computation

EARNINGS PER SHARE - Computation of Basic and Diluted Earnings Per Share (Details) (USD $)	1 Months Ended	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Numerator:
Net income attributable to Neff Corporation		$929	$0
Add dilutive effect of the following (in shares)
Neff Holdings options (redeemable for cash or Class A common stock)	1,265
Neff Corporation stock options		290
Common Class A
Denominator for diluted net income per share of Class A common stock:
Weighted average shares of Class A common stock outstanding	10,476	10,476
Add dilutive effect of the following (in shares)
Weighted average shares of Class A common stock outstanding, diluted		12,031
Net income attributable to Neff Corporation per share of Class A common stock, basic (in dollars per share)		$0.09
Net income attributable to Neff Corporation per share of Class A common stock, diluted (in dollars per share)		$0.08

INTANGIBLE_ASSETS_Schedule_of_

INTANGIBLE ASSETS - Schedule of Carrying Amount and Accumulated Amortization of Intangible Assets (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$24,841		$24,841
Accumulated Amortization	-8,562		-8,241
Net Book Value	16,279		16,600
Amortization of intangible assets	321	376
Customer Lists
Finite-Lived Intangible Assets [Line Items]
Average Useful Life (in years)	12 years	12 years
Gross Carrying Amount	13,987		13,987
Accumulated Amortization	-8,562		-8,241
Net Book Value	5,425		5,746
Amortization of intangible assets	300	400
Trademarks and Trade Names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	10,854		10,854
Net Book Value	$10,854		$10,854

INTANGIBLE_ASSETS_Accumulated_

INTANGIBLE ASSETS - Accumulated Amortization and Expected Future Amortization (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Accumulated Amortization	$8,562	$8,241
Estimated amortization expense
Remainder of 2015	965
2016	1,070
2017	877
2018	719
2019	589
2020 through 2022	1,205
Total	$13,987

DEBT_Schedule_of_Debt_Details

DEBT - Schedule of Debt (Details) (USD $)	0 Months Ended
In Thousands, unless otherwise specified	Jun. 09, 2014	Oct. 01, 2010	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term Debt			$730,772	$721,913
Second Lien Loan \| Second Lien Loan
Debt Instrument [Line Items]
Long-term Debt			476,772	476,713
Original issue discount			2,288
Debt instrument effective interest rate percentage			7.25%
London Interbank Offered Rate (LIBOR) \| Second Lien Loan \| Second Lien Loan
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	6.25%
Debt instrument, interest rate, floor of variable rate	1.00%
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Long-term Debt			$254,000	$245,200
Line of credit facility, interest rate at period end			2.50%
Revolving Credit Facility \| Prime Rate \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.50%
Revolving Credit Facility \| London Interbank Offered Rate (LIBOR) \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.50%

DEBT_Additional_Information_De

DEBT - Additional Information (Details) (USD $)	0 Months Ended
DEBT - Additional Information (Details) (USD $)	Jun. 09, 2014	Nov. 20, 2014	Oct. 14, 2014	Mar. 12, 2012	Oct. 01, 2010	Mar. 31, 2015	Dec. 31, 2014	31-May-11	Nov. 20, 2013	Oct. 25, 2012
Debt Instrument [Line Items]
Outstanding letters of credit						$3,700,000	$4,500,000
Senior Secured Notes
Debt Instrument [Line Items]
Loss on extinguishment of debt	15,900,000
Write off of deferred debt issuance cost	8,700,000
Payments of debt extinguishment costs	7,200,000
Neff Rental LLC and Neff Rental Finance Corp \| Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, face amount								200,000,000
Stated interest rate								9.63%
Neff Holdings LLC
Debt Instrument [Line Items]
Cash distribution to members	329,900,000	110,000,000
Neff Rental LLC \| Second Lien Loan
Debt Instrument [Line Items]
Accumulated amortization of deferred finance costs						500,000	300,000
Second Lien Loan \| Neff Rental LLC \| Second Lien Loan
Debt Instrument [Line Items]
Debt instrument, face amount	575,000,000
Original issue discount	2,900,000
Repayments of Debt			96,000,000
Revolving Credit Facility \| Neff Rental LLC and Neff LLC
Debt Instrument [Line Items]
Line of credit facility, interest payments due for LIBOR interest					3 months
Line of credit facility, maximum borrowing capacity	425,000,000			200,000,000					375,000,000	225,000,000
Line of credit facility, accordion feature, increase limit				100,000,000					25,000,000
Line of credit facility, alternate maturity date, number of days prior to maturity of senior secured debt		90 days		90 days
Current availability						167,200,000
Accumulated amortization of deferred finance costs						3,400,000	3,200,000
Line of credit facility covenants, trigger, minimum availability					$42,500,000

EQUITYBASED_COMPENSATION_EQUIT

EQUITY-BASED COMPENSATION EQUITY-BASED COMPENSATION - Schedule of Stock Option Activity (Details)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Stock options outstanding (in shares)
Beginning balance	270
Granted	19
Exercised	0
Forfeited	0
Ending balance	290
Number of Vested and Unvested Awards (in shares)
Vested	0
Unvested	290
Neff Holdings LLC
Stock options outstanding (in shares)
Beginning balance	1,265
Granted	0
Exercised	0
Forfeited	0
Ending balance	1,265
Number of Vested and Unvested Awards (in shares)
Vested	1,261
Unvested	4
Restricted Stock Units (RSUs) [Member]
Restricted stock outstanding (in shares)
Beginning balance	85
Granted	4
Exercised	0
Forfeited	0
Ending balance	89
Number of Vested and Unvested Awards (in shares)
Unvested	89

EQUITYBASED_COMPENSATION_Addit

EQUITY-BASED COMPENSATION - Additional Information (Details) (USD $)	3 Months Ended		0 Months Ended
In Thousands, except Share data in Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Nov. 20, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$352	$264
Common stock, conversion ratio, common unit to Class A common stock	1
Neff Holdings LLC
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation		$300
Neff Holdings LLC \| Class B Common Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common unit options obtained per option			1.625
Incentive Plan 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares available	1.1

DERIVIATIVE_FINANCIAL_INSTRUME

DERIVIATIVE FINANCIAL INSTRUMENTS - Schedule of Derivative Fixed Interest Rates (Details) (Scenario, Forecast)	Apr. 08, 2019	Apr. 09, 2018	Apr. 10, 2017	Apr. 08, 2016	Apr. 08, 2015
Scenario, Forecast
Derivative [Line Items]
Derivative, fixed interest rate	2.14%	1.96%	1.68%	1.16%	0.47%

DERIVATIVE_FINANCIAL_INSTRUMEN2

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Derivative Financial Instruments (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized loss Recognized in Earnings	$888	$0
Interest Rate Swap \| Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized loss Recognized in Earnings	888	0
Fair Value of Derivative Liability	$888		$0

DERIVATIVE_FINANCIAL_INSTRUMEN3

DERIVATIVE FINANCIAL INSTRUMENTS - Additional Information (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 24, 2015	Dec. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized loss on interest rate swap	$888,000	$0
Interest Rate Swap \| Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized loss on interest rate swap	888,000	0
Fair value of derivative liability	888,000			0
Derivative liability, notional amount			$200,000,000

INCOME_TAXES_Components_of_Inc

INCOME TAXES - Components of Income Taxes (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Current expense
Federal	$0	$0
State and local	65	119
Total current (benefit) expense	65	119
Deferred expense
Federal	-115	0
State and local	295	0
Total deferred expense	180	0
Total	$245	$119

INCOME_TAXES_Effective_Income_

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Effective Income Tax Rate Reconciliation, Percent [Abstract]
U.S. federal statutory income tax rate	35.00%	35.00%
State and local income taxes net of federal benefit	5.50%	0.00%
Uncertain tax positions	0.30%	2.10%
Permanent book/tax differences	-13.30%	0.00%
Change in tax rate	0.50%	0.00%
Non-controlling interest	-20.60%	-35.00%
Other	-1.40%	0.00%
Effective tax rate	6.00%	2.10%

INCOME_TAXES_Schedule_of_Net_D

INCOME TAXES - Schedule of Net Deferred Tax Asset Liability (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$5,545	$2,535
Bad debt expense	369	336
Accrued liabilities	457	902
Equity-based compensation	194	139
Unrealized loss on interest rate swap	140	0
Insurance/parts reserves	555	543
Straight-line rent adjustment	101	100
Uncertain tax positions	106	104
Subtotal	7,467	4,659
Less: valuation allowance	0	0
Total deferred tax assets	7,467	4,659
Deferred Tax Liabilities
Intangible assets	-2,977	-2,841
Deferred debt costs	-270	-230
Depreciation	-9,805	-6,993
Total deferred tax liability	-13,052	-10,064
Net Deferred Tax Liability	($5,585)	($5,405)

INCOME_TAXES_Additional_Inform

INCOME TAXES - Additional Information (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Income Tax Contingency [Line Items]
Uncertain tax position recorded in accrued expenses		$0.40	$0.40
Interest and penalties accrued		0.3	0.3
Scenario, Forecast
Income Tax Contingency [Line Items]
Reversed uncertain tax position during the period	0.4
Reversed interest and penalties during the period	$0.30

SUPPLEMENTAL_DISCLOSURE_OF_CAS2

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION - Additional Information (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Supplemental Disclosures of Cash Flow Information
Cash paid for interest	$10,495	$2,065
Non-cash investing activities:
Purchases of rental equipment included in accounts payable and other accrued liabilities at year end	$36,232	$51,140

FAIR_VALUE_DISCLOSURES_Details

FAIR VALUE DISCLOSURES - (Details) (Interest Rate Swap, Fair Value, Measurements, Recurring [Member], USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified	Mar. 31, 2015
Fair Value Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	$0
Fair Value Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	888
Fair Value Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	$0

SUPPLEMENTAL_CONSOLIDATING_STA2

SUPPLEMENTAL CONSOLIDATING STATEMENTS - Condensed Consolidating Balance Sheet (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
ASSETS
Cash and cash equivalents	$222	$207	$163	$190
Accounts receivable, net	52,711	66,375
Inventories	2,939	2,005
Rental equipment, net	453,587	420,245
Property and equipment, net	31,370	30,210
Prepaid expenses and other assets	18,549	16,959
Goodwill	58,765	58,765
Investment in Subsidiary	0	0
Intercompany	0	0
Intangible assets, net	16,279	16,600
Total assets	634,422	611,366
Liabilities
Accounts payable	36,463	27,389
Accrued expenses and other liabilities	32,228	31,203
Revolving credit facility	254,000	245,200
Second lien loan, net of original issue discount	476,772	476,713
Payable pursuant to tax receivable agreement	32,078	31,557
Deferred tax liability, net	5,585	5,405
Total liabilities	837,126	817,467
Stockholders' deficit
Additional paid-in capital	-112,468	-112,185
Retained earnings	2,528	1,599
Members' deficit	0	0
Accumulated surplus	0	0
Total stockholders' deficit	-109,685	-110,331
Non-controlling interest	-93,019	-95,770
Total stockholders' deficit and non-controlling interest	-202,704	-206,101
Total liabilities and stockholders' deficit and non-controlling interest	634,422	611,366
Eliminations
ASSETS
Cash and cash equivalents	0	0
Accounts receivable, net	0	0
Inventories	0	0
Rental equipment, net	0	0
Property and equipment, net	0	0
Prepaid expenses and other assets	0	0
Goodwill	0	0
Investment in Subsidiary	-209,886	-200,045
Intercompany	0	0
Intangible assets, net	0	0
Total assets	-209,886	-200,045
Liabilities
Accounts payable	0	0
Accrued expenses and other liabilities	0	0
Revolving credit facility	0	0
Second lien loan, net of original issue discount	0	0
Payable pursuant to tax receivable agreement	0	0
Deferred tax liability, net	0	0
Total liabilities	0	0
Stockholders' deficit
Additional paid-in capital	-146,143	-146,143
Retained earnings	0	0
Members' deficit	188,195	188,547
Accumulated surplus	-89,121	-76,881
Total stockholders' deficit	-47,069	-34,477
Non-controlling interest	-162,817	-165,568
Total stockholders' deficit and non-controlling interest	-209,886	-200,045
Total liabilities and stockholders' deficit and non-controlling interest	-209,886	-200,045
Neff Rental LLC \| Reportable Legal Entities
ASSETS
Cash and cash equivalents	220	205
Accounts receivable, net	52,711	66,375
Inventories	2,939	2,005
Rental equipment, net	453,587	420,245
Property and equipment, net	31,370	30,210
Prepaid expenses and other assets	18,549	16,959
Goodwill	58,765	58,765
Investment in Subsidiary	0	0
Intercompany	6,490	6,206
Intangible assets, net	16,279	16,600
Total assets	640,910	617,570
Liabilities
Accounts payable	36,463	27,389
Accrued expenses and other liabilities	32,163	31,188
Revolving credit facility	254,000	245,200
Second lien loan, net of original issue discount	476,772	476,713
Payable pursuant to tax receivable agreement	0	0
Deferred tax liability, net	0	0
Total liabilities	799,398	780,490
Stockholders' deficit
Additional paid-in capital	0	0
Retained earnings	0	0
Members' deficit	-188,195	-188,547
Accumulated surplus	29,707	25,627
Total stockholders' deficit	-158,488	-162,920
Non-controlling interest	0	0
Total stockholders' deficit and non-controlling interest	-158,488	-162,920
Total liabilities and stockholders' deficit and non-controlling interest	640,910	617,570
Neff LLC \| Reportable Legal Entities
ASSETS
Cash and cash equivalents	0	0
Accounts receivable, net	0	0
Inventories	0	0
Rental equipment, net	0	0
Property and equipment, net	0	0
Prepaid expenses and other assets	0	0
Goodwill	0	0
Investment in Subsidiary	29,707	25,627
Intercompany	0	0
Intangible assets, net	0	0
Total assets	29,707	25,627
Liabilities
Accounts payable	0	0
Accrued expenses and other liabilities	0	0
Revolving credit facility	0	0
Second lien loan, net of original issue discount	0	0
Payable pursuant to tax receivable agreement	0	0
Deferred tax liability, net	0	0
Total liabilities	0	0
Stockholders' deficit
Additional paid-in capital	0	0
Retained earnings	0	0
Members' deficit	0	0
Accumulated surplus	29,707	25,627
Total stockholders' deficit	29,707	25,627
Non-controlling interest	0	0
Total stockholders' deficit and non-controlling interest	29,707	25,627
Total liabilities and stockholders' deficit and non-controlling interest	29,707	25,627
Neff Holdings LLC \| Reportable Legal Entities
ASSETS
Cash and cash equivalents	0	0
Accounts receivable, net	0	0
Inventories	0	0
Rental equipment, net	0	0
Property and equipment, net	0	0
Prepaid expenses and other assets	0	0
Goodwill	0	0
Investment in Subsidiary	29,707	25,627
Intercompany	0	0
Intangible assets, net	0	0
Total assets	29,707	25,627
Liabilities
Accounts payable	0	0
Accrued expenses and other liabilities	0	0
Revolving credit facility	0	0
Second lien loan, net of original issue discount	0	0
Payable pursuant to tax receivable agreement	0	0
Deferred tax liability, net	0	0
Total liabilities	0	0
Stockholders' deficit
Additional paid-in capital	0	0
Retained earnings	0	0
Members' deficit	0	0
Accumulated surplus	29,707	25,627
Total stockholders' deficit	29,707	25,627
Non-controlling interest	0	0
Total stockholders' deficit and non-controlling interest	29,707	25,627
Total liabilities and stockholders' deficit and non-controlling interest	29,707	25,627
Neff Corporation \| Reportable Legal Entities
ASSETS
Cash and cash equivalents	2	2
Accounts receivable, net	0	0
Inventories	0	0
Rental equipment, net	0	0
Property and equipment, net	0	0
Prepaid expenses and other assets	0	0
Goodwill	0	0
Investment in Subsidiary	150,472	148,791
Intercompany	-6,490	-6,206
Intangible assets, net	0	0
Total assets	143,984	142,587
Liabilities
Accounts payable	0	0
Accrued expenses and other liabilities	65	15
Revolving credit facility	0	0
Second lien loan, net of original issue discount	0	0
Payable pursuant to tax receivable agreement	32,078	31,557
Deferred tax liability, net	5,585	5,405
Total liabilities	37,728	36,977
Stockholders' deficit
Additional paid-in capital	33,675	33,958
Retained earnings	2,528	1,599
Members' deficit	0	0
Accumulated surplus	0	0
Total stockholders' deficit	36,458	35,812
Non-controlling interest	69,798	69,798
Total stockholders' deficit and non-controlling interest	106,256	105,610
Total liabilities and stockholders' deficit and non-controlling interest	143,984	142,587
Common Class A
Stockholders' deficit
Common stock	105	105
Common Class A \| Eliminations
Stockholders' deficit
Common stock	0	0
Common Class A \| Neff Rental LLC \| Reportable Legal Entities
Stockholders' deficit
Common stock	0	0
Common Class A \| Neff LLC \| Reportable Legal Entities
Stockholders' deficit
Common stock	0	0
Common Class A \| Neff Holdings LLC \| Reportable Legal Entities
Stockholders' deficit
Common stock	0	0
Common Class A \| Neff Corporation \| Reportable Legal Entities
Stockholders' deficit
Common stock	105	105
Common Class B
Stockholders' deficit
Common stock	150	150
Common Class B \| Eliminations
Stockholders' deficit
Common stock
Common Class B \| Neff Rental LLC \| Reportable Legal Entities
Stockholders' deficit
Common stock	0	0
Common Class B \| Neff LLC \| Reportable Legal Entities
Stockholders' deficit
Common stock	0	0
Common Class B \| Neff Holdings LLC \| Reportable Legal Entities
Stockholders' deficit
Common stock	0	0
Common Class B \| Neff Corporation \| Reportable Legal Entities
Stockholders' deficit
Common stock	$150	$150

SUPPLEMENTAL_CONSOLIDATING_STA3

SUPPLEMENTAL CONSOLIDATING STATEMENTS - Condensed Consolidating Statement of Operations (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenues
Rental revenues	$74,141	$69,129
Equipment sales	6,787	5,327
Parts and service	3,158	3,277
Total revenues	84,086	77,733
Cost of revenues
Cost of equipment sold	4,332	3,138
Depreciation of rental equipment	19,514	18,187
Cost of rental revenues	17,859	18,316
Cost of parts and service	1,763	2,043
Total cost of revenues	43,468	41,684
Gross profit	40,618	36,049
Other operating expenses
Selling, general and administrative expenses	22,290	20,096
Other depreciation and amortization	2,461	2,246
Total other operating expenses	24,751	22,342
Income from operations	15,867	13,707
Other expenses
Interest expense	10,514	6,803
Adjustment to tax receivable agreement	521	0
Unrealized loss on interest rate swap	888	0
Amortization of debt issue costs	371	1,327
Total other expenses	12,294	8,130
Income before income taxes	3,573	5,577
Equity earnings in subsidiaries	0
Provision for income taxes	-245	-119
Net income	3,328	5,458
Less: net income attributable to non-controlling interest	2,399	5,458
Net income attributable to Neff Corporation	929	0
Eliminations
Revenues
Rental revenues	0
Equipment sales	0
Parts and service	0
Total revenues	0
Cost of revenues
Cost of equipment sold	0
Depreciation of rental equipment	0
Cost of rental revenues	0
Cost of parts and service	0
Total cost of revenues	0
Gross profit	0
Other operating expenses
Selling, general and administrative expenses	0
Other depreciation and amortization	0
Total other operating expenses	0
Income from operations	0
Other expenses
Interest expense	0
Adjustment to tax receivable agreement	0
Unrealized loss on interest rate swap	0
Amortization of debt issue costs	0
Total other expenses	0
Income before income taxes	0
Equity earnings in subsidiaries	-9,841
Provision for income taxes	0
Net income	-9,841
Less: net income attributable to non-controlling interest	-8,160
Net income attributable to Neff Corporation	-1,681
Neff Rental LLC \| Reportable Legal Entities
Revenues
Rental revenues	74,141
Equipment sales	6,787
Parts and service	3,158
Total revenues	84,086
Cost of revenues
Cost of equipment sold	4,332
Depreciation of rental equipment	19,514
Cost of rental revenues	17,859
Cost of parts and service	1,763
Total cost of revenues	43,468
Gross profit	40,618
Other operating expenses
Selling, general and administrative expenses	22,290
Other depreciation and amortization	2,461
Total other operating expenses	24,751
Income from operations	15,867
Other expenses
Interest expense	10,514
Adjustment to tax receivable agreement	0
Unrealized loss on interest rate swap	888
Amortization of debt issue costs	371
Total other expenses	11,773
Income before income taxes	4,094
Equity earnings in subsidiaries	0
Provision for income taxes	-14
Net income	4,080
Less: net income attributable to non-controlling interest	4,080
Net income attributable to Neff Corporation	0
Neff LLC \| Reportable Legal Entities
Revenues
Rental revenues	0
Equipment sales	0
Parts and service	0
Total revenues	0
Cost of revenues
Cost of equipment sold	0
Depreciation of rental equipment	0
Cost of rental revenues	0
Cost of parts and service	0
Total cost of revenues	0
Gross profit	0
Other operating expenses
Selling, general and administrative expenses	0
Other depreciation and amortization	0
Total other operating expenses	0
Income from operations	0
Other expenses
Interest expense	0
Adjustment to tax receivable agreement	0
Unrealized loss on interest rate swap	0
Amortization of debt issue costs	0
Total other expenses	0
Income before income taxes	0
Equity earnings in subsidiaries	4,080
Provision for income taxes	0
Net income	4,080
Less: net income attributable to non-controlling interest	4,080
Net income attributable to Neff Corporation	0
Neff Holdings LLC \| Reportable Legal Entities
Revenues
Rental revenues	0
Equipment sales	0
Parts and service	0
Total revenues	0
Cost of revenues
Cost of equipment sold	0
Depreciation of rental equipment	0
Cost of rental revenues	0
Cost of parts and service	0
Total cost of revenues	0
Gross profit	0
Other operating expenses
Selling, general and administrative expenses	0
Other depreciation and amortization	0
Total other operating expenses	0
Income from operations	0
Other expenses
Interest expense	0
Adjustment to tax receivable agreement	0
Unrealized loss on interest rate swap	0
Amortization of debt issue costs	0
Total other expenses	0
Income before income taxes	0
Equity earnings in subsidiaries	4,080
Provision for income taxes	0
Net income	4,080
Less: net income attributable to non-controlling interest	2,399
Net income attributable to Neff Corporation	1,681
Neff Corporation \| Reportable Legal Entities
Revenues
Rental revenues	0
Equipment sales	0
Parts and service	0
Total revenues	0
Cost of revenues
Cost of equipment sold	0
Depreciation of rental equipment	0
Cost of rental revenues	0
Cost of parts and service	0
Total cost of revenues	0
Gross profit	0
Other operating expenses
Selling, general and administrative expenses	0
Other depreciation and amortization	0
Total other operating expenses	0
Income from operations	0
Other expenses
Interest expense	0
Adjustment to tax receivable agreement	521
Unrealized loss on interest rate swap	0
Amortization of debt issue costs	0
Total other expenses	521
Income before income taxes	-521
Equity earnings in subsidiaries	1,681
Provision for income taxes	-231
Net income	929
Less: net income attributable to non-controlling interest	0
Net income attributable to Neff Corporation	$929

SUPPLEMENTAL_CONSOLIDATING_STA4

SUPPLEMENTAL CONSOLIDATING STATEMENTS - Condensed Consolidating Statement of Cash Flows (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash Flows from Operating Activities
Net income	$3,328	$5,458
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	21,654	20,057
Amortization of debt issue costs	371	1,327
Amortization of intangible assets	321	376
Amortization of original issue discount on second lien loan	59	0
Gain on sale of equipment	-2,455	-2,189
Provision for bad debt	664	709
Equity-based compensation	352	264
Deferred income taxes	180	0
Adjustment to tax receivable agreement	521	0
Unrealized loss on interest rate swap	888	0
Equity earnings in subsidiaries	0
Changes in operating assets and liabilities:
Accounts receivable	13,000	4,970
Inventories, prepaid expenses and other assets	-2,895	-2,938
Accounts payable	1,394	1,809
Accrued expenses and other liabilities	-3,438	4,514
Net cash provided by operating activities	33,944	34,357
Cash Flows from Investing Activities
Purchases of rental equipment	-45,888	-30,956
Proceeds from sale of equipment	6,787	5,327
Purchases of property and equipment	-3,345	-7,733
Net cash used in investing activities	-42,446	-33,362
Cash Flows from Financing Activities
Repayments under revolving credit facility	-35,611	-32,400
Borrowings under revolving credit facility	44,411	31,300
Payment of costs directly associated with the issuance of Class A common stock	-283	0
Intercompany	0
Net cash provided by (used in) financing activities	8,517	-1,022
Net increase (decrease) in cash and cash equivalents	15	-27
Cash and cash equivalents, beginning of year	207	190
Cash and cash equivalents, end of year	222	163
Eliminations
Cash Flows from Operating Activities
Net income	-9,841
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	0
Amortization of debt issue costs	0
Amortization of intangible assets	0
Amortization of original issue discount on second lien loan	0
Gain on sale of equipment	0
Provision for bad debt	0
Equity-based compensation	0
Deferred income taxes	0
Adjustment to tax receivable agreement	0
Unrealized loss on interest rate swap	0
Equity earnings in subsidiaries	9,841
Changes in operating assets and liabilities:
Accounts receivable	0
Inventories, prepaid expenses and other assets	0
Accounts payable	0
Accrued expenses and other liabilities	0
Net cash provided by operating activities	0
Cash Flows from Investing Activities
Purchases of rental equipment	0
Proceeds from sale of equipment	0
Purchases of property and equipment	0
Net cash used in investing activities	0
Cash Flows from Financing Activities
Repayments under revolving credit facility	0
Borrowings under revolving credit facility	0
Payment of costs directly associated with the issuance of Class A common stock	0
Intercompany	0
Net cash provided by (used in) financing activities	0
Net increase (decrease) in cash and cash equivalents	0
Cash and cash equivalents, beginning of year	0
Cash and cash equivalents, end of year	0
Neff Rental LLC \| Reportable Legal Entities
Cash Flows from Operating Activities
Net income	4,080
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	21,654
Amortization of debt issue costs	371
Amortization of intangible assets	321
Amortization of original issue discount on second lien loan	59
Gain on sale of equipment	-2,455
Provision for bad debt	664
Equity-based compensation	352
Deferred income taxes	0
Adjustment to tax receivable agreement	0
Unrealized loss on interest rate swap	888
Equity earnings in subsidiaries	0
Changes in operating assets and liabilities:
Accounts receivable	13,000
Inventories, prepaid expenses and other assets	-2,895
Accounts payable	1,394
Accrued expenses and other liabilities	-3,488
Net cash provided by operating activities	33,945
Cash Flows from Investing Activities
Purchases of rental equipment	-45,888
Proceeds from sale of equipment	6,787
Purchases of property and equipment	-3,345
Net cash used in investing activities	-42,446
Cash Flows from Financing Activities
Repayments under revolving credit facility	-35,611
Borrowings under revolving credit facility	44,411
Payment of costs directly associated with the issuance of Class A common stock	0
Intercompany	-284
Net cash provided by (used in) financing activities	8,516
Net increase (decrease) in cash and cash equivalents	15
Cash and cash equivalents, beginning of year	205
Cash and cash equivalents, end of year	220
Neff LLC \| Reportable Legal Entities
Cash Flows from Operating Activities
Net income	4,080
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	0
Amortization of debt issue costs	0
Amortization of intangible assets	0
Amortization of original issue discount on second lien loan	0
Gain on sale of equipment	0
Provision for bad debt	0
Equity-based compensation	0
Deferred income taxes	0
Adjustment to tax receivable agreement	0
Unrealized loss on interest rate swap	0
Equity earnings in subsidiaries	-4,080
Changes in operating assets and liabilities:
Accounts receivable	0
Inventories, prepaid expenses and other assets	0
Accounts payable	0
Accrued expenses and other liabilities	0
Net cash provided by operating activities	0
Cash Flows from Investing Activities
Purchases of rental equipment	0
Proceeds from sale of equipment	0
Purchases of property and equipment	0
Net cash used in investing activities	0
Cash Flows from Financing Activities
Repayments under revolving credit facility	0
Borrowings under revolving credit facility	0
Payment of costs directly associated with the issuance of Class A common stock	0
Intercompany	0
Net cash provided by (used in) financing activities	0
Net increase (decrease) in cash and cash equivalents	0
Cash and cash equivalents, beginning of year	0
Cash and cash equivalents, end of year	0
Neff Holdings LLC \| Reportable Legal Entities
Cash Flows from Operating Activities
Net income	4,080
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	0
Amortization of debt issue costs	0
Amortization of intangible assets	0
Amortization of original issue discount on second lien loan	0
Gain on sale of equipment	0
Provision for bad debt	0
Equity-based compensation	0
Deferred income taxes	0
Adjustment to tax receivable agreement	0
Unrealized loss on interest rate swap	0
Equity earnings in subsidiaries	-4,080
Changes in operating assets and liabilities:
Accounts receivable	0
Inventories, prepaid expenses and other assets	0
Accounts payable	0
Accrued expenses and other liabilities	0
Net cash provided by operating activities	0
Cash Flows from Investing Activities
Purchases of rental equipment	0
Proceeds from sale of equipment	0
Purchases of property and equipment	0
Net cash used in investing activities	0
Cash Flows from Financing Activities
Repayments under revolving credit facility	0
Borrowings under revolving credit facility	0
Payment of costs directly associated with the issuance of Class A common stock	0
Intercompany	0
Net cash provided by (used in) financing activities	0
Net increase (decrease) in cash and cash equivalents	0
Cash and cash equivalents, beginning of year	0
Cash and cash equivalents, end of year	0
Neff Corporation \| Reportable Legal Entities
Cash Flows from Operating Activities
Net income	929
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	0
Amortization of debt issue costs	0
Amortization of intangible assets	0
Amortization of original issue discount on second lien loan	0
Gain on sale of equipment	0
Provision for bad debt	0
Equity-based compensation	0
Deferred income taxes	180
Adjustment to tax receivable agreement	521
Unrealized loss on interest rate swap	0
Equity earnings in subsidiaries	-1,681
Changes in operating assets and liabilities:
Accounts receivable	0
Inventories, prepaid expenses and other assets	0
Accounts payable	0
Accrued expenses and other liabilities	50
Net cash provided by operating activities	-1
Cash Flows from Investing Activities
Purchases of rental equipment	0
Proceeds from sale of equipment	0
Purchases of property and equipment	0
Net cash used in investing activities	0
Cash Flows from Financing Activities
Repayments under revolving credit facility	0
Borrowings under revolving credit facility	0
Payment of costs directly associated with the issuance of Class A common stock	-283
Intercompany	284
Net cash provided by (used in) financing activities	1
Net increase (decrease) in cash and cash equivalents	0
Cash and cash equivalents, beginning of year	2
Cash and cash equivalents, end of year	$2