McGrath RentCorp (MGRC) 10-Q 24 Oct 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Oct. 23, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Trading Symbol	MGRC
Security Exchange Name	NASDAQ
Entity Registrant Name	McGRATH RENTCORP
Entity Central Index Key	0000752714
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock
Entity File Number	000-13292
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	94-2579843
Entity Address, Address Line One	5700 Las Positas Road
Entity Address, City or Town	Livermore
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94551-7800
City Area Code	925
Local Phone Number	606-9200
Entity Common Stock, Shares Outstanding		24,551,184
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024		Sep. 30, 2023
Revenues
Rental	$ 124,203	$ 122,686	$ 365,708		$ 350,773
Rental related services	47,701	40,492	111,640		101,481
Rental operations	171,904	163,178	477,349		452,254
Total revenues	266,758	243,506	667,196		610,254
Direct costs of rental operations:
Depreciation of rental equipment	21,981	22,069	66,512		66,499
Rental related services	32,439	28,532	78,215		71,625
Other	27,252	28,493	84,182		90,188
Total direct costs of rental operations	81,672	79,094	228,909		228,312
Costs of sales	61,107	52,878	117,625		98,431
Total costs of revenues	142,779	131,972	346,534		326,743
Gross profit	123,979	111,534	320,661		283,511
Expenses:
Selling and administrative expenses	49,297	48,508	148,764		153,032
Other income, net		(3,559)	(9,281)		(3,559)
Income from operations	74,682	66,585	181,178		134,038
Interest expense	12,641	11,025	38,383		28,434
Foreign currency exchange (gain) loss	(216)	42	(53)		(166)
Gain on merger termination from WillScot Mobile Mini	(180,000)		(180,000)	[1]
WillScot Mobile Mini transaction costs	39,436		61,157	[2]
Income from continuing operations before provision for income taxes	202,821	55,518	261,691		105,770
Provision for income taxes from continuing operations	53,504	15,152	68,913		25,934
Income from continuing operations	149,317	40,366	192,778		79,836
Discontinued operations:
Income from discontinued operations before provision for income taxes					1,709
Provision for income taxes from discontinued operations					453
Gain on sale of discontinued operations, net of tax					61,513
Income from discontinued operations					62,769
Net income	$ 149,317	$ 40,366	$ 192,778		$ 142,605
Earnings per share from continuing operations:
Basic	$ 6.08	$ 1.65	$ 7.86		$ 3.26
Diluted	6.08	1.65	7.85		3.26
Earnings per share from discontinued operations:
Basic					2.57
Diluted					2.56
Earnings per share:
Basic	6.08	1.65	7.86		5.83
Diluted	$ 6.08	$ 1.65	$ 7.85		$ 5.81
Shares used in per share calculation:
Basic	24,551	24,487	24,538		24,461
Diluted	24,567	24,525	24,564		24,527
Cash dividends declared per share	$ 0.475	$ 0.465	$ 1.425		$ 1.395
Sales [Member]
Revenues
Revenues	$ 92,508	$ 77,115	$ 181,992		$ 148,576
Other [Member]
Revenues
Revenues	$ 2,346	$ 3,213	$ 7,855		$ 9,424
[1] During the period ended September 30, 2024, the Company received $ 180 million in cash proceeds attributed to the mutual decision to terminate the Merger Agreement. These proceeds are reported as non-operating income on the Company's Condensed Consolidated Statements of Income and are reported in the Company's Corporate segment. During the period ended September 30, 2024, the Company determined that transaction costs incurred by the Company attributed to the terminated Merger Agreement were significant. Due to this determination, the Company has separately reported these transaction costs in the Company's Corporate segment and excluded such costs from Selling and administrative expenses. The total transaction costs excluded from Selling and administrative expenses for the six months ended June 30, 2024, and the three months ended March 31, 2024, for Mobile Modular, Portable Storage and TRS-RenTelco was $ 15.5 million, $ 2.6 million and $ 3.6 million, respectively, and $ 6.5 million, $ 1.2 million and $ 1.7 million, respectively.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 149,317	$ 40,366	$ 192,778	$ 142,605
Other comprehensive income:
Foreign currency translation adjustment, net of tax impact	(135)	11	(57)	36
Comprehensive income	$ 149,182	$ 40,377	$ 192,721	$ 142,641

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Cash	$ 4,056	$ 877
Accounts receivable, net of allowance for credit losses of $2,866 at September 30, 2024 and $2,801 at December 31, 2023	224,529	227,368
Rental equipment, at cost:
Relocatable modular buildings	1,398,422	1,291,093
Portable storage containers	241,620	236,123
Electronic test equipment	356,979	377,587
Rental equipment, gross	1,997,021	1,904,803
Less: accumulated depreciation	(605,339)	(575,480)
Rental equipment, net	1,391,682	1,329,323
Property, plant and equipment, net	195,593	169,114
Inventories	22,285	15,425
Prepaid expenses and other assets	67,376	87,364
Intangible assets, net	56,891	64,588
Goodwill	323,224	323,224
Total assets	2,285,636	2,217,283
Liabilities:
Notes payable	608,562	762,975
Accounts payable	76,240	58,760
Accrued Liabilities	109,367	108,763
Deferred income	123,925	111,428
Deferred income taxes, net	273,482	241,555
Total liabilities	1,191,576	1,283,481
Shareholders’ equity:
Common stock, no par value - Authorized 40,000 shares Issued and outstanding - 24,551 shares as of September 30, 2024 and 24,496 shares as of December 31, 2023	113,989	111,122
Retained earnings	980,244	822,796
Accumulated other comprehensive loss	(173)	(116)
Total shareholders’ equity	1,094,060	933,802
Total liabilities and shareholders’ equity	$ 2,285,636	$ 2,217,283

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 2,866	$ 2,801
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	24,551,000	24,496,000
Common stock, shares outstanding	24,551,000	24,496,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Dec. 31, 2022	$ 803,945	$ 110,080	$ 693,943	$ (78)
Balance, Shares at Dec. 31, 2022		24,388,000
Net income	71,657		71,657
Share-based compensation	1,493	$ 1,493
Common stock issued under stock plans, net of shares withheld for employee taxes, Shares		78,000
Taxes paid related to net share settlement of stock awards	(6,086)	$ (6,086)
Dividends accrued per share	(11,453)		(11,453)
Other comprehensive income (loss)	(18)			(18)
Balance at Mar. 31, 2023	859,538	$ 105,487	754,147	(96)
Balance, Shares at Mar. 31, 2023		24,466,000
Balance at Dec. 31, 2022	803,945	$ 110,080	693,943	(78)
Balance, Shares at Dec. 31, 2022		24,388,000
Net income	142,605
Balance at Sep. 30, 2023	911,372	$ 109,253	802,161	(42)
Balance, Shares at Sep. 30, 2023		24,489,000
Balance at Mar. 31, 2023	859,538	$ 105,487	754,147	(96)
Balance, Shares at Mar. 31, 2023		24,466,000
Net income	30,582		30,582
Share-based compensation	1,889	$ 1,889
Common stock issued under stock plans, net of shares withheld for employee taxes, Shares		19,000
Taxes paid related to net share settlement of stock awards	(14)	$ (14)
Dividends accrued per share	(11,469)		(11,469)
Other comprehensive income (loss)	43			43
Balance at Jun. 30, 2023	880,569	$ 107,362	773,260	(53)
Balance, Shares at Jun. 30, 2023		24,485,000
Net income	40,366		40,366
Share-based compensation	1,891	$ 1,891
Common stock issued under stock plans, net of shares withheld for employee taxes, Shares		4,000
Dividends accrued per share	(11,465)		(11,465)
Other comprehensive income (loss)	11			11
Balance at Sep. 30, 2023	911,372	$ 109,253	802,161	(42)
Balance, Shares at Sep. 30, 2023		24,489,000
Balance at Dec. 31, 2023	$ 933,802	$ 111,122	822,796	(116)
Balance, Shares at Dec. 31, 2023	24,496,000	24,496,000
Net income	$ 22,848		22,848
Share-based compensation	2,209	$ 2,209
Common stock issued under stock plans, net of shares withheld for employee taxes, Shares		45,000
Taxes paid related to net share settlement of stock awards	(4,082)	$ (4,082)
Dividends accrued per share	(11,824)		(11,824)
Other comprehensive income (loss)	67			67
Balance at Mar. 31, 2024	943,020	$ 109,249	833,820	(49)
Balance, Shares at Mar. 31, 2024		24,541,000
Balance at Dec. 31, 2023	$ 933,802	$ 111,122	822,796	(116)
Balance, Shares at Dec. 31, 2023	24,496,000	24,496,000
Net income	$ 192,778
Balance at Sep. 30, 2024	$ 1,094,060	$ 113,989	980,244	(173)
Balance, Shares at Sep. 30, 2024	24,551,000	24,551,000
Balance at Mar. 31, 2024	$ 943,020	$ 109,249	833,820	(49)
Balance, Shares at Mar. 31, 2024		24,541,000
Net income	20,618		20,618
Share-based compensation	2,347	$ 2,347
Common stock issued under stock plans, net of shares withheld for employee taxes, Shares		9,000
Dividends accrued per share	(11,763)		(11,763)
Other comprehensive income (loss)	11			11
Balance at Jun. 30, 2024	954,233	$ 111,596	842,675	(38)
Balance, Shares at Jun. 30, 2024		24,550,000
Net income	149,317		149,317
Share-based compensation	2,393	$ 2,393
Common stock issued under stock plans, net of shares withheld for employee taxes, Shares		1,000
Dividends accrued per share	(11,748)		(11,748)
Other comprehensive income (loss)	(135)			(135)
Balance at Sep. 30, 2024	$ 1,094,060	$ 113,989	$ 980,244	$ (173)
Balance, Shares at Sep. 30, 2024	24,551,000	24,551,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Cash dividends declared per share	$ 0.475	$ 0.475	$ 0.475	$ 0.465	$ 0.465	$ 0.465	$ 1.425	$ 1.395

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash Flows from Operating Activities:
Net income	$ 192,778	$ 142,605
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	80,824	81,842
Deferred income taxes	31,927	(30,018)
Provision for credit losses	1,437	1,794
Share-based compensation	6,949	5,273
Gain on sale of property, plant and equipment	(9,281)	(3,559)
Gain on sale of discontinued operations		(61,513)
Gain on sale of used rental equipment	(25,185)	(22,964)
Foreign currency exchange gain	(53)	(166)
Amortization of debt issuance costs	6	6
Change in:
Accounts receivable	1,402	(27,733)
Inventories	(6,860)	(1,988)
Prepaid expenses and other assets	19,988	(5,402)
Accounts payable	30,562	22,513
Accrued liabilities	605	10,305
Deferred income	12,497	7,908
Net cash provided by operating activities	337,596	118,903
Cash Flows from Investing Activities:
Proceeds from sale of discontinued operations		268,012
Purchases of rental equipment	(167,269)	(171,322)
Purchases of property, plant and equipment	(36,070)	(16,448)
Cash paid for acquisition of businesses		(458,315)
Cash paid for acquisition of business assets		(3,474)
Proceeds from sales of used rental equipment	50,270	49,405
Proceeds from sales of property, plant and equipment	12,251	595
Net cash used in investing activities	(140,818)	(331,547)
Cash Flows from Financing Activities:
Net (payments) borrowings under bank lines of credit	(154,420)	178,892
Borrowings under term note agreement		75,000
Taxes paid related to net share settlement of stock awards	(4,082)	(6,100)
Payment of dividends	(35,097)	(34,168)
Net cash (used in) provided by financing activities	(193,599)	213,624
Effect of foreign currency exchange rate changes on cash		9
Net increase in cash	3,179	989
Cash balance, beginning of period	877	957
Cash balance, end of period	4,056	1,946
Supplemental Disclosure of Cash Flow Information:
Gain on merger termination, net of transaction costs	118,843
Interest paid, during the period	40,338	27,818
Net income taxes (refunded) paid, during the period	(3,826)	9,547
Dividends accrued during the period, not yet paid	12,241	12,014
Rental equipment acquisitions, not yet paid	$ 3,333	$ 5,765

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 149,317	$ 20,618	$ 22,848	$ 40,366	$ 30,582	$ 71,657	$ 192,778	$ 142,605

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Condensed Consolidated Financia

Condensed Consolidated Financial Information	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Condensed Consolidated Financial Information	NOTE 1. CONDENSED CONSOLIDATED FINANCIAL INFORMATION The condensed consolidated financial statements for the nine months ended September 30, 2024 and 2023 have not been audited, but in the opinion of management, all adjustments (consisting of normal recurring accruals, consolidating and eliminating entries) necessary for the fair presentation of the consolidated financial position, results of operations and cash flows of McGrath RentCorp (the “Company”) have been made. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and note disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to those rules and regulations. The consolidated results for the three and nine months ended September 30, 2024, should not be considered as necessarily indicative of the consolidated results for the entire fiscal year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s latest Annual Report on Form 10-K, filed with the SEC on February 21, 2024 for the year ended December 31, 2023 (the “2023 Annual Report”). Mutual decision to terminate Merger Agreement with WillScot Mobile Mini Holdings Corp. As previously disclosed, on January 28, 2024, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”), with WillScot Mobile Mini Holdings Corp., a Delaware corporation ("WillScot Mobile Mini”), Brunello Merger Sub I, Inc., a California corporation and a direct wholly owned subsidiary of WillScot Mobile Mini, and Brunello Merger Sub II, LLC, a Delaware limited liability company and direct wholly owned subsidiary of WillScot Mobile Mini. On September 17, 2024, the Company and WillScot Mobile Mini mutually agreed to terminate the Merger Agreement, effective upon WillScot Mobile Mini's cash payment of $ 180.0 million to the Company, which was received on September 20, 2024. Transaction costs attributed to the Merger Agreement are reported in the Company's Corporate segment. Expenses recognized as a result of the terminated Merger Agreement during the three and nine months ended September 30, 2024, were $ 39.4 million and $ 61.2 million, respectively. The termination payment received of $ 180.0 million, net of transaction costs, resulted in net proceeds received of $ 118.8 million during the nine months ended September 30, 2024. The Company determined that the transaction costs incurred on the terminated Merger Agreement were significant and required separate presentation on the Company's condensed consolidated statements of income for the three and nine-months ended September 30, 2024. Due to this determination, the Company has excluded such transaction costs from Selling and administrative expenses. Transaction costs incurred by the Company of $21.7 million and $9.4 million for the six-months ended June 30, 2024, and three-months ended March 31, 2024, respectively, have been reclassified from Selling and administrative expenses and reported separately on the condensed consolidated statements of income as non-operating expenses.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2024
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	NOTE 2. NEW ACCOUNTING PRONOUNCEMENTS In December 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes—Improvements to Income Tax Disclosures (Topic 740), which will require Companies to disclose annually the specific categories in income tax rate reconciliations, provide additional information for reconciling items which meet a quantitative threshold, and disaggregate domestic and foreign income or loss from continuing operations. Additionally, this ASU will also require the disclosure of income tax expense or benefit from continuing operations disaggregated by federal, state and foreign. This ASU is effective for fiscal years beginning after December 15, 2024, and applied on a prospective basis. The Company is in the process of evaluating the financial statement impact of this ASU. In November 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting—Improvements to Reportable Segment Disclosures (Topic 280), which will require public companies to provide more transparency in both quarterly and annual reports about the expenses they incur from revenue generating reportable business segments. In addition, the ASU requires that a public entity disclose significant segment expenses that are regularly provided to the chief operating decision maker, an amount for other segment items by reportable business segment, including a description of its composition, and the primary measures of a business segment's profit or loss in assessing segment performance. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company is in the process of evaluating the financial statement impact of this ASU.

Implemented Accounting Pronounc

Implemented Accounting Pronouncements	9 Months Ended
	Sep. 30, 2024
Accounting Changes and Error Corrections [Abstract]
Implemented Accounting Pronouncements	NOTE 3. IMPLEMENTED ACCOUNTING PRONOUNCEMENTS Effective January 1, 2024, the Company adopted the Accounting Standards Update ("ASU") 2023-01, Leases (Topic 842): Common Control Arrangements, which requires a lessee involved in a common control lease agreement to amortize leasehold improvements over the useful life of the improvements to the common control group, regardless of the lease term, as long as the lessee controls the use of the underlying asset. If the lessor obtains the right to control the use of the underlying asset through a lease with another entity not within the same control group, the amortization period cannot exceed the period of the common control group. Furthermore, the ASU requires the accounting for a transfer between entities under common control through an adjustment to equity when the lessee no longer controls the use of the underlying asset. The adoption of this new guidance did not have a material impact on the Company's consolidated financial statements.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2024
Business Combinations [Abstract]
Acquisitions	NOTE 4. ACQUISITIONS On February 1, 2023, the Company completed the acquisition of Vesta Housing Solutions Holdings, Inc. (“Vesta Modular”), a portfolio company of Kinderhook Industries, for $ 437.2 million cash consideration on the closing date, which included certain adjustments, including net working capital and certain qualified capital expenditures. In connection with the acquisition, the Company purchased a representation and warranty insurance policy to provide certain recourse in the event of breaches of representations and warranties of Vesta Modular and the seller of Vesta Modular under the stock purchase agreement. Vesta Modular was a leading provider of temporary and permanent modular space solutions serving customers between its modular leasing and modular construction divisions. The acquisition was accounted for as a purchase of a “business” in accordance with criteria in Accounting Standards Codification ("ASC") 805, Business Combinations , using the purchase method of accounting. Under the purchase method of accounting, the total purchase price is assigned to tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values on the closing date. The excess of the purchase price over those fair values is recorded as goodwill. The financial results of Vesta Modular were a part of the Mobile Modular segment since February 1, 2023, including $ 7.7 million of acquisition related transaction costs. On March 1, 2023, the Company completed the acquisition of Jerald R. Brekke, Inc., DBA Brekke Storage ("Brekke Storage"), for a total purchase price of $ 16.4 million. Brekke Storage was a regional provider of portable storage solutions in the Colorado market. The acquisition expanded the Portable Storage fleet by approximately 2,700 units and provided a new regional operation to serve the Colorado market. The acquisition was accounted for as a purchase of a “business” in accordance with criteria in ASC 805 using the purchase method of accounting. The financial results of Brekke Storage were a part of the Portable Storage segment since March 1, 2023, including $ 0.2 million of transaction costs. On April 1, 2023, the Company completed the acquisition of Dixie Temporary Storage, LLC ("Dixie Storage"), for a purchase price of $ 4.9 million. Dixie Storage was a regional provider of portable storage solutions in the South Carolina market and is highly complementary to the Company's Portable Storage business segment. The acquisition was accounted for as a purchase of a “business” in accordance with criteria in ASC 805 using the purchase method of accounting. The financial results of Dixie Storage were a part of the Portable Storage segment since April 1, 2023, including $ 0.1 million of transaction costs. On July 1, 2023, the Company completed the purchase of assets of Inland Leasing and Storage, LLC ("Inland Leasing"), for a purchase price of $ 3.8 million. Inland Leasing was a regional provider of portable storage solutions in the Colorado market and is highly complementary to the Company's Portable Storage business segment. The acquisition was accounted for as a purchase of "assets" in accordance with criteria in ASC 805 and the assessment of the fair value of the purchased assets was allocated primarily to rental equipment totaling $ 3.0 million and intangible assets totaling $ 0.7 million. Supplemental pro forma information has not been provided as the historical financial results of Inland Leasing were not significant. Incremental transaction costs associated with the asset purchase were not significant. The following tables summarize the purchase price allocations reflecting estimated fair values of assets acquired and liabilities assumed in the Vesta Modular, Brekke Storage and Dixie Storage business acquisitions, with excess amounts allocated to goodwill. The assets acquired and liabilities assumed were based upon their fair values on the closing date. The valuation of intangible assets acquired is based on certain valuation assumptions including cash flow projections, discount rates, contributory asset charges and other valuation model inputs. The valuation of tangible long-lived assets acquired is dependent upon various analyses including an analysis of the condition and estimated remaining economic lives of the assets acquired. Vesta Modular: (dollar amounts in thousands) Rental equipment $ 212,639 Intangible assets: Goodwill 211,178 Customer relationships 29,900 Non-compete 7,100 Trade name 800 Cash 11 Accounts receivable 22,666 Property, plant and equipment 1,437 Prepaid expenses and other assets 3,550 Accounts payable and accrued liabilities ( 26,202 ) Deferred income ( 14,273 ) Deferred income taxes ( 11,596 ) Total purchase price $ 437,210 Brekke Storage: (dollar amounts in thousands) Rental equipment $ 10,798 Intangible assets: Goodwill 4,083 Customer relationships 949 Non-compete 59 Property, plant and equipment 875 Deferred income ( 382 ) Total purchase price $ 16,382 Dixie Storage: (dollar amounts in thousands) Rental equipment $ 2,758 Intangible assets: Goodwill 1,555 Customer relationships 259 Non-compete 22 Property, plant and equipment 318 Deferred income ( 161 ) Total purchase price $ 4,751 The value assigned to identifiable intangible assets was determined based on discounted estimated future cash flows associated with such assets to their present value. The combined acquired goodwill of $ 216.8 million reflects the strategic fit of Vesta Modular, Brekke Storage and Dixie Storage with the Company’s modular and portable storage business operations. The Company amortizes the acquired customer relationships over their expected useful lives of 11 years for Vesta Modular, 8 years for Brekke Storage and 9 years for Dixie Storage. The expected useful life for the non-compete agreements is 5 years. The trade name intangible acquired from the Vesta Modular acquisition will be amortized over its useful life of nine months . Goodwill is expected to have an indefinite life and will be subject to future impairment testing. The goodwill is deductible for tax purposes over 15 years. The following table reports the actual results of the Company for the nine months ended September 30, 2024, and the unaudited pro forma financial information for the nine months ended September 30, 2023. The pro forma financial information shows the combined results of continuing operations of the Company and Vesta Modular as if the acquisition occurred as of the beginning of the period presented. The pro forma results include the effects of the amortization of the purchased intangible assets and depreciation expense of acquired rental equipment valuation step up, interest expense on the debt incurred to finance the acquisitions. A pro forma adjustment has been made to reflect the income taxes that would have been recorded at the combined federal and state statutory rate of 26.5 % on the acquisitions’ combined net income. The pro forma results for the nine months ended September 30, 2023, have been adjusted to include transaction related costs. This pro forma data is presented for informational purposes only and does not purport to be indicative of the results of the future operations or the results that would have occurred had the acquisitions taken place in the periods noted below: (Unaudited) Nine months ended September 30, (dollar amounts in thousands, except for per share amounts) 2024 2023 (Actual) (Pro Forma) Pro-forma total revenues $ 667,196 $ 617,897 Pro-forma net income $ 192,778 $ 79,540 Pro-forma basic earnings per share $ 7.86 $ 3.25 Pro-forma diluted earnings per share $ 7.85 $ 3.25 Vesta Modular Actual total revenues $ 82,186 Actual net income $ 17,627 Actual basic earnings per share $ 0.72 Actual diluted earnings per share $ 0.72

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	NOTE 5. DISCONTINUED OPERATIONS On February 1, 2023, the Company completed the sale of Adler Tank Rentals, LLC to Ironclad Environmental Solutions, Inc. ("Ironclad"), a portfolio company of Kinderhook Industries, for a sale price of $ 268.0 million. The total transaction costs incurred from the divestiture were $ 8.8 million, with $ 6.7 million and $ 2.1 million incurred during the years ended December 31, 2023 and 2022, respectively. The divestiture of the Company's Adler Tanks business represents the Company's strategic shift to concentrate its operations on its core modular and storage businesses. The sale price was subject to certain adjustments, including net working capital, certain qualified capital expenditures and certain transaction expenses to be borne by the Company. In connection with the sale, the Company entered into a number of ancillary agreements, including an escrow agreement associated with net working capital adjustments, a restricted covenant agreement, a transition services agreement, and a number of leases whereby Ironclad or one of its affiliates would be a lessee to certain properties owned by the Company that the Adler Tanks business would continue to utilize after the sale. These ancillary agreements do not provide for continued involvement by the Company in Adler Tanks. In accordance with ASC 205-20, Presentation of Financial Statements - Discontinued Operations and ASC 360 , Property, Plant and Equipment, the Company determined that the criteria for the presentation of discontinued operations and held-for-sale, respectively, were met during the first quarter of 2023. The following table presents the results of Adler Tanks as reported in income from discontinued operations within the condensed consolidated statements of income for the nine months ended September 30, 2023: (dollar amounts in thousands) Nine Months Ended September 30, 2023 Revenues Rental $ 6,520 Rental related services 2,584 Rental operations 9,104 Sales 269 Other 65 Total revenues 9,438 Costs and Expenses Direct costs of rental operations: Depreciation of rental equipment 1,325 Rental related services 2,020 Other 1,270 Total direct costs of rental operations 4,614 Costs of sales 159 Total costs of revenues 4,773 Gross Profit Rental 3,926 Rental related services 564 Rental operations 4,490 Sales 110 Other 65 Total gross profit 4,665 Expenses: Selling and administrative expenses 2,582 Income from operations 2,083 Interest expense allocation 374 Income from discontinued operations before provision for income taxes 1,709 Provision for income taxes from discontinued operations 453 Income from discontinued operations $ 1,256 The following table presents the carrying value of the divested business' assets and liabilities as presented within assets and liabilities of discontinued operations on the consolidated balance sheets as of December 31, 2022, which was the most recently audited period prior to divestiture: December 31, (in thousands) 2022 Assets Accounts receivable, net of allowance for credit losses of $ 450 $ 20,086 Rental equipment, net 137,738 Property, plant and equipment, net 6,632 Prepaid expenses and other assets 191 Intangible assets, net 5,700 Goodwill 25,902 Total assets of discontinued operations $ 196,249 Liabilities Accounts payable and accrued liabilities $ 9,621 Deferred income taxes, net 43,550 Total liabilities of discontinued operations $ 53,171 For the nine months ended September 30, 2023, significant operating and investing items related to Adler Tanks were as follows: September 30, (in thousands) 2023 Operating activities of discontinued operations: Depreciation and amortization $ 1,457 Gain on sale of used rental equipment ( 111 ) Investing activities of discontinued operations: Proceeds from sales of used rental equipment 269 Purchases of rental equipment ( 25 ) Purchases of property, plant and equipment ( 40 ) The following table presents the reconciliation of income from discontinued operations to Adjusted EBITDA for the nine months ended September 30, 2023: September 30, (in thousands) 2023 Income from discontinued operations $ 1,256 Provision for income taxes from discontinued operations 453 Interest expense 374 Depreciation and amortization 1,457 EBITDA 3,540 Share-based compensation 118 Transaction costs 24 Adjusted EBITDA from discontinued operations $ 3,682

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	NOTE 6. REVENUE RECOGNITION The Company’s accounting for revenues is governed by two accounting standards. The majority of the Company’s revenues are considered lease or lease related and are accounted for in accordance with Accounting Standards Codification 842, Leases (Topic 842). Revenues determined to be non-lease related are accounted for in accordance with ASC 606, Revenue from Contracts with Customers (Topic 606). The Company accounts for revenues when approval and commitment from both parties have been obtained, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. The Company typically recognizes non-lease related revenues at a point in time because the customer does not simultaneously consume the benefits of the Company’s promised goods and services, or performance obligations, and obtains control when delivery and installation are complete. For contracts that have multiple performance obligations, the transaction price is allocated to each performance obligation in the contract based on the Company’s best estimate of the standalone selling prices of each distinct performance obligation in the contract. The standalone selling price is typically determined based upon the expected cost plus an estimated margin of each performance obligation. Revenue from contracts that satisfy the criteria for over time recognition are recognized as work is performed by using the ratio of costs incurred to estimated total contract costs for each contract. The majority of revenue for these contracts is derived from long-term projects which typically span multiple quarters . The timing of revenue recognition, billings, and cash collections results in billed contract receivables and contract assets on the Company's Consolidated Balance Sheets. In the Company’s contracts, amounts are billed as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals or upon achievement of contractual milestones. Billings can occur subsequent to revenue recognition, resulting in contract assets, or in advance, resulting in contract liabilities. These contract assets and liabilities are reported on the Consolidated Balance Sheets on a contract-by-contract basis at the end of each reporting period. The contract liabilities included in Deferred income on the Company’s Consolidated Balance Sheets totaled $ 49.1 million and $ 40.7 million at September 30, 2024 and December 31, 2023, respectively. Sales revenues totaling $ 10.6 million and $ 26.3 million were recognized during the three and nine months ended September 30, 2024, respectively, which were included in the contract liability balance at December 31, 2023. For certain modular building sales, the customer retains a small portion of the contract price until full completion of the contract, or revenue is recognizable prior to customer billing, which results in revenue earned in excess of billings. These unbilled contract assets are included in Accounts receivable on the Company’s Consolidated Balance Sheets and totaled $ 16.7 million and $ 8.7 million at September 30, 2024 and December 31, 2023, respectively. The Company did not recognize any material contract asset impairments during the periods ended September 30, 2024 and December 31, 2023, respectively. The Company's uncompleted contracts with customers which meet the criteria for over-time revenue recognition have unsatisfied or partially satisfied performance obligations. As of September 30, 2024, approximately $ 67.1 million of revenue is expected to be recognized for unsatisfied or partially satisfied obligations. The Company expects to recognize revenue for approximately one half of these unsatisfied or partially satisfied performance obligations over the next 12 months, with the remaining balance recognized thereafter. For the three and nine months ended September 30, 2024, approximately $ 96.9 million and $ 198.9 million of revenue was recognized for sales and non-lease services transferred at a point in time, respectively, and approximately $ 16.6 million and $ 28.2 million of revenue was recognized for sales and non-lease services transferred over time, respectively. The Company generally rents and sells to customers on 30 day payment terms. The Company does not typically offer variable payment terms or accept non-monetary consideration. Amounts billed and due from the Company’s customers are classified as Accounts receivable on the Company’s consolidated balance sheet. For certain sales of modular buildings, progress payments from the customer are received during the manufacturing of new equipment, or the preparation of used equipment. The advance payments are not considered a significant financing component because the payments are used to meet working capital needs during the contract and to protect the Company from the customer failing to adequately complete their obligations under the contract. Lease Revenues Rental revenues from operating leases are recognized on a straight-line basis over the term of the lease for all operating segments. Rental billings for periods extending beyond period end are recorded as deferred income and are recognized in the period earned. Rental related services revenues are primarily associated with relocatable modular buildings. For modular building leases, rental related services revenues for modifications, delivery, installation, dismantle and return delivery are lease related because the payments are considered minimum lease payments that are an integral part of the negotiated lease agreement with the customer. These revenues are recognized on a straight-line basis over the term of the lease. Certain leases are accounted for as finance leases. For these leases, sales revenue and the related accounts receivable are recognized upon delivery and installation of the equipment and the unearned interest is recognized over the lease term on a basis which results in a constant rate of return on the unrecovered lease investment. As of the nine months ended September 30, 2024, the Company’s future minimum lease payments to be received under non-cancelable finance leases were $ 2.4 million. Of the total investment in sales-type leases, future minimum lease payments are expected to be $ 1.7 million in 2025, $ 0.5 million in 2026, and $ 0.2 million in 2027. The Company’s assessment of current expected losses on these receivables was immaterial and therefore no credit loss expense was provided as of the nine months ended September 30, 2024. Other revenues include interest income on finance leases and rental income on facility leases. In the three and nine months ended September 30, 2024, the Company’s lease revenues were $ 153.3 million and $ 440.1 million, respectively, consisting of $ 152.7 million and $ 438.5 million of operating lease revenues, respectively, and $ 0.5 million and $ 1.6 million of finance lease revenues, respectively. The Company has entered into finance leases to finance certain equipment sales to customers. The lease agreements have a bargain purchase option at the end of the lease term. For these leases, sales revenue and the related accounts receivable are recognized upon delivery and installation of the equipment and the unearned interest is recognized over the lease term on a straight-line basis, which results in a constant rate of return on the unrecovered lease investment. The Company’s finance lease revenues for the three and nine months ended September 30, 2024 include $ 0.4 million and $ 1.3 million of sales revenues, respectively, and $ 0.1 million and $ 0.3 million of interest income, respectively. Non-Lease Revenues Non-lease revenues are recognized in the period when control of the performance obligation is transferred, in an amount that reflects the consideration the Company expects to be entitled to receive in exchange for those goods or services. For portable storage containers and electronic test equipment, rental related services revenues for delivery and return delivery are considered non-lease revenues. Sales revenues are typically recognized at a point in time, which occurs upon the completion of delivery, installation and acceptance of the equipment by the customer. Accounting for non-lease revenues requires judgment in determining the point in time the customer gains control of the equipment and the appropriate accounting period to recognize revenue. Sales taxes charged to customers are reported on a net basis and are excluded from revenues and expenses. The following table disaggregates the Company’s revenues by lease (within the scope of Topic 842) and non-lease revenues (within the scope of Topic 606) and the underlying service provided for the three and nine months ended September 30, 2024 and 2023: (in thousands) Mobile Portable Storage TRS- Enviroplex Consolidated Three Months Ended September 30, 2024 Leasing $ 109,249 $ 17,486 $ 26,524 $ — $ 153,259 Non-lease: Rental related services 16,131 4,127 755 — 21,013 Sales 65,994 1,411 7,169 17,499 92,073 Other 33 27 353 — 413 Total non-lease 82,158 5,565 8,277 17,499 113,499 Total revenues $ 191,407 $ 23,051 $ 34,801 $ 17,499 $ 266,758 2023 Leasing $ 93,676 $ 20,279 $ 29,711 $ — $ 143,666 Non-lease: Rental related services 13,224 5,027 664 — 18,915 Sales 57,723 1,144 8,341 9,515 76,723 Other 3,782 27 393 — 4,202 Total non-lease 74,729 6,198 9,398 9,515 99,840 Total revenues $ 168,405 $ 26,477 $ 39,109 $ 9,515 $ 243,506 Nine Months Ended September 30, 2024 Leasing $ 306,003 $ 54,881 $ 79,180 $ — $ 440,064 Non-lease: Rental related services 27,130 12,865 2,087 — 42,082 Sales 127,250 3,889 18,926 30,591 180,656 Other 3,153 200 1,041 — 4,394 Total non-lease 157,533 16,954 22,054 30,591 227,132 Total revenues $ 463,536 $ 71,835 $ 101,234 $ 30,591 $ 667,196 2023 Leasing $ 267,242 $ 56,791 $ 90,388 $ — $ 414,421 Non-lease: Rental related services 26,693 14,440 1,952 — 43,085 Sales 112,937 2,891 19,545 11,379 146,752 Other 4,737 70 1,189 — 5,996 Total non-lease 144,367 17,401 22,686 11,379 195,833 Total revenues $ 411,609 $ 74,192 $ 113,074 $ 11,379 $ 610,254 Customer returns of rental equipment prior to the end of the rental contract term are typically billed a cancellation fee, which is recorded as rental revenue in the period billed. Sales of new relocatable modular buildings, portable storage containers and electronic test equipment not manufactured by the Company are typically covered by warranties provided by the manufacturer of the products sold. The Company typically provides limited 90 -day warranties for certain sales of used rental equipment and one-year warranties on equipment manufactured by Enviroplex. Although the Company’s policy is to provide reserves for warranties when required for specific circumstances, warranty costs have not been significant to date. The Company’s incremental cost of obtaining lease contracts, which consists of salesperson commissions, are deferred and amortized over the initial lease term for modular leases. Incremental costs for obtaining a contract for all other operating segments are expensed in the period incurred because the lease term is typically less than 12 months. Other Income, net Other income, net consists of the net gain on sales of property, plant and equipment. These sales are generally recognized at a point in time, with contractually defined performance obligations that are typically transferred upon the closing date of the sale. These types of sales are infrequent in occurrence and reported on the condensed consolidated statements of income within the scope of ASC 610, Other Income . Proceeds to be received from the sale of property, plant and equipment are included in Accounts receivable on the Company's condensed consolidated balance sheets.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 7. EARNINGS PER SHARE Basic earnings per share (“EPS”) is computed as net income divided by the weighted-average number of shares of common stock outstanding for the period. Diluted EPS is computed assuming conversion of all potentially dilutive securities including the dilutive effect of stock options, unvested restricted stock awards and other potentially dilutive securities. The table below presents the weighted-average number of shares of common stock used to calculate basic and diluted earnings per share: Three Months Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Weighted-average number of shares of common stock for 24,551 24,487 24,538 24,461 Effect of potentially dilutive securities from equity-based 16 38 26 66 Weighted-average number of shares of common stock for 24,567 24,525 24,564 24,527 There were no anti-dilutive securities excluded from the computation of diluted earnings per share for the nine months ended September 30, 2024, and 1,800 anti-dilutive securities excluded from the computation of diluted earnings per share for the nine months ended September 30, 2023. The Company has in the past made purchases of shares of its common stock from time to time in over-the-counter market (NASDAQ) transactions, through privately negotiated, large block transactions and through a share repurchase plan, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). In September 2024, the Company's Board of Directors increased the capacity under the share repurchase program by authorizing the Company to repurchase up to 2,000,000 shares of the Company's outstanding common stock (the "Repurchase Plan"), an increase from the 1,309,805 remaining shares authorized for repurchase under the Repurchase Plan established in August 2015. The amount and time of the specific repurchases are subject to prevailing market conditions, applicable legal requirements and other factors, including management’s discretion. All shares repurchased by the Company are canceled and returned to the status of authorized but unissued shares of common stock. There can be no assurance that any authorized shares will be repurchased, and the Repurchase Plan may be modified, extended or terminated by the Company’s Board of Directors at any time. There were no shares repurchased during the three and nine months ended September 30, 2024 and 2023. As of September 30, 2024, 2,000,000 shares were authorized for repurchase under the Repurchase Plan.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories	NOTE 8. INVENTORIES Inventories consist of raw materials, supplies and work-in-process. Inventories are measured at the lower of actual cost or net realizable value for acquired units and estimated standard costs for manufactured units. The costs include expenditures incurred in acquiring the inventories, manufacturing, production costs, and other costs incurred in bringing them to their existing location and condition. The following table presents the carrying value of inventories: (dollar amounts in thousands) September 30, December 31, 2024 2023 Raw materials $ 3,500 $ 3,806 Work-in-process 18,785 11,619 Inventories $ 22,285 $ 15,425

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	NOTE 9. GOODWILL AND INTANGIBLE ASSETS Intangible assets consist of the following: (dollar amounts in thousands) Estimated Average remaining life in years Cost Accumulated amortization Net book value September 30, 2024 Customer relationships 8 to 11 7.1 $ 73,217 $( 23,009 ) $ 50,208 Non-compete agreements 5 3.0 10,556 ( 4,719 ) 5,837 Trade name 0.75 to 8 4.5 2,000 ( 1,325 ) 675 Total amortizing 85,773 ( 29,053 ) 56,720 Trade name - non-amortizing Indefinite 171 — 171 Total $ 85,944 $( 29,053 ) $ 56,891 December 31, 2023 Customer relationships 8 to 11 7.8 $ 73,217 $( 17,003 ) $ 56,214 Non-compete agreements 5 3.7 10,556 ( 3,141 ) 7,415 Trade name 0.75 to 8 5.3 2,000 ( 1,212 ) 788 Total amortizing 85,773 ( 21,356 ) 64,417 Trade name - non-amortizing Indefinite 171 — 171 Total $ 85,944 $( 21,356 ) $ 64,588 The Company assesses potential impairment of its goodwill and intangible assets when there is evidence that events or circumstances have occurred that would indicate the recovery of an asset’s carrying value is unlikely. The Company also assesses potential impairment of its goodwill and intangible assets with indefinite lives on an annual basis regardless of whether there is evidence of impairment. If indicators of impairment were to be present in intangible assets used in operations and future discounted cash flows were not expected to be sufficient to recover the asset’s carrying amount, an impairment loss would be charged to expense in the period identified. The amount of an impairment loss that would be recognized is the excess of the asset’s carrying value over its fair value. Factors the Company considers important, which may cause impairment include, among others, significant changes in the manner of use of the acquired asset, negative industry or economic trends, and significant underperformance relative to historical or projected operating results. The Company last conducted a qualitative analysis of its goodwill and intangible assets in the fourth quarter 2023, with no indicators of impairment. In addition, no impairment triggering events occurred during the nine months ended September 30, 2024, and there were no changes to the carrying value of goodwill during this period. Determining fair value of a reporting unit is judgmental and involves the use of significant estimates and assumptions. The Company bases its fair value estimates on assumptions that it believes are reasonable but are uncertain and subject to changes in market conditions. Intangible assets with finite useful lives are amortized over their respective useful lives. Amortization expense in the nine months ended September 30, 2024 and 2023, was $ 7.7 million and $ 7.8 million, respectively. Based on the carrying values at September 30, 2024, and assuming no subsequent impairment of the underlying assets, the amortization expense is expected to be $ 2.6 million for the remainder of fiscal year 2024, $ 10.2 million in 2025, $ 9.8 million in 2026, $ 9.6 million in 2027, $ 8.2 million in 2028 and $ 4.7 million in 2029.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Reporting	NOTE 10. SEGMENT REPORTING During the quarter ended December 31, 2023, the Company determined that its Portable Storage business segment met the criteria for separate recognition as defined in the Accounting Standards Codification ("ASC") Topic 280, Segment Reporting. The guidance under this topic requires a public business entity to evaluate both quantitative and qualitative thresholds to determine the significance of a business segment and whether the separate reporting of a business segment enhances the users' understanding of the reporting entity's performance, future net cash flows and judgments. The Company evaluated the guidance within Topic 280 and made its determination to separately report the Portable Storage segment primarily due to the Company's continued growth in container fleet purchases and related increased revenues and improved profitability performance when compared to previously reported periods. In addition to this determination, the Company also divested its Adler Tanks business segment during the year ended December 31, 2023. Additional information regarding the divestiture of Adler Tanks can be found in Note 5 of the condensed consolidated financial statements. At September 30, 2024, the Company was comprised of four reportable segments: (1) its modular building segment (“Mobile Modular”); (2) its portable storage container segment ("Portable Storage"); (3) its electronic test equipment segment (“TRS-RenTelco”); and (4) its classroom manufacturing segment selling modular buildings used primarily as classrooms in California (“Enviroplex”). The operations of each of these segments are described in Part I – Item 1, “Business,” and the accounting policies of the segments are described in “Note 1 – Summary of Significant Accounting Policies” in the Company’s 2023 Annual Report. Management focuses on several key measures to evaluate and assess each segment’s performance, including rental revenue growth, gross profit and gross margins, income from operations and income before provision for income taxes. Excluding interest expense, allocations of revenue and expense not directly associated with one of these segments are generally allocated to Mobile Modular, Portable Storage and TRS-RenTelco based on their pro-rata share of direct revenues. Interest expense is allocated amongst Mobile Modular, Portable Storage and TRS-RenTelco based on their pro-rata share of average rental equipment at cost, intangible assets, accounts receivable, deferred income and customer security deposits. During the period ended September 30, 2024, the Company determined that transaction costs incurred by the Company attributed to the terminated Merger Agreement with WillScot Mobile Mini were significant and required separate presentation. For the three and nine-months ended September 30, 2024, the Company has reported the terminated Merger Agreement transaction costs in the Corporate segment and excluded such costs from Selling and administrative expenses. The Company does not report total assets by business segment. Summarized financial information for the nine months ended September 30, 2024 and 2023 for the Company’s reportable segments are shown in the following table: (dollar amounts in thousands) Mobile Portable Storage TRS- Enviroplex 1 Corporate (Unallocated) Consolidated Nine Months Ended September 30, 2024 Rental revenues $ 236,040 $ 53,270 $ 76,398 $ — $ — $ 365,708 Rental related services revenues 95,450 13,768 2,422 — — 111,640 Sales and other revenues 132,046 4,796 22,414 30,591 — 189,847 Total revenues 463,536 71,835 101,234 30,591 — 667,196 Depreciation of rental equipment 29,994 2,971 33,547 — — 66,512 Gross profit 222,901 48,939 40,939 7,882 — 320,661 Selling and administrative expenses 100,882 22,064 20,450 5,368 — 148,764 Other income ( 6,220 ) ( 1,319 ) ( 1,742 ) — — ( 9,281 ) Income from operations 128,239 28,194 22,231 2,514 — 181,178 Interest expense (income) allocation 29,951 4,255 6,070 ( 1,893 ) — 38,383 Gain on merger termination from WillScot Mobile Mini 3 — — — — ( 180,000 ) ( 180,000 ) WillScot Mobile Mini transaction costs 4 — — — — 61,157 61,157 Income before provision for income taxes 98,288 23,939 16,214 4,407 118,843 261,691 Rental equipment acquisitions 129,837 7,818 16,295 — — 153,950 Accounts receivable, net (period end) 182,617 10,481 19,642 11,789 — 224,529 Rental equipment, at cost (period end) 1,398,422 241,620 356,979 — — 1,997,021 Rental equipment, net book value (period end) 1,051,703 220,139 119,840 — — 1,391,682 Utilization (period end) 2 76.5 % 62.0 % 59.0 % Average utilization 2 78.0 % 66.1 % 56.8 % 2023 Rental revenues $ 209,622 $ 54,776 $ 86,375 $ — $ — $ 350,773 Rental related services revenues 83,799 15,359 2,323 — — 101,481 Sales and other revenues 118,188 4,057 24,376 11,379 — 158,000 Total revenues 411,609 74,192 113,074 11,379 — 610,254 Depreciation of rental equipment 27,196 2,570 36,733 — — 66,499 Gross profit 183,682 50,288 47,184 2,357 — 283,511 Selling and administrative expenses 101,360 23,282 23,576 4,814 — 153,032 Other income ( 2,290 ) ( 450 ) ( 819 ) — — ( 3,559 ) Income (loss) from operations 84,612 27,456 24,427 ( 2,457 ) — 134,038 Interest expense (income) allocation 20,607 3,522 6,008 ( 1,703 ) — 28,434 Income (loss) before provision for income taxes 64,005 23,934 18,585 ( 754 ) — 105,770 Rental equipment acquisitions 121,751 20,316 21,801 — — 163,868 Accounts receivable, net (period end) 170,247 16,107 29,086 8,829 — 224,269 Rental equipment, at cost (period end) 1,245,462 228,897 383,006 — — 1,857,365 Rental equipment, net book value (period end) 929,776 211,418 150,674 — — 1,291,868 Utilization (period end) 2 80.2 % 77.2 % 60.3 % Average utilization 2 79.7 % 78.4 % 59.0 % 1. Gross Enviroplex sales revenues were $ 30,593 and $ 16,401 for the nine months ended September 30, 2024 and 2023, respectively. There were $ 2 and $ 218 of inter-segment sales to Mobile Modular in the nine months ended September 30, 2024 and 2023, respectively, which required elimination in consolidation. 2. Utilization is calculated each month by dividing the cost of rental equipment on rent by the total cost of rental equipment, excluding accessory equipment, and new equipment inventory. The Average utilization for the period is calculated using the average costs of rental equipment. 3. During the period ended September 30, 2024, the Company received $ 180 million in cash proceeds attributed to the mutual decision to terminate the Merger Agreement. These proceeds are reported as non-operating income on the Company's Condensed Consolidated Statements of Income and are reported in the Company's Corporate segment. 4. During the period ended September 30, 2024, the Company determined that transaction costs incurred by the Company attributed to the terminated Merger Agreement were significant. Due to this determination, the Company has separately reported these transaction costs in the Company's Corporate segment and excluded such costs from Selling and administrative expenses. The total transaction costs excluded from Selling and administrative expenses for the six months ended June 30, 2024, and the three months ended March 31, 2024, for Mobile Modular, Portable Storage and TRS-RenTelco was $ 15.5 million, $ 2.6 million and $ 3.6 million, respectively, and $ 6.5 million, $ 1.2 million and $ 1.7 million, respectively. No single customer accounted for more than 10% of total revenues for the nine months ended September 30, 2024 and 2023. Revenues from foreign country customers accounted for 2 % and 3 % of the Company’s total revenues for the same periods, respectively.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combinations [Abstract]
Summary of Preliminary Purchase Price Allocations Reflecting Estimated Fair Values of Assets Acquired and Liabilities Assumed	The following tables summarize the purchase price allocations reflecting estimated fair values of assets acquired and liabilities assumed in the Vesta Modular, Brekke Storage and Dixie Storage business acquisitions, with excess amounts allocated to goodwill. The assets acquired and liabilities assumed were based upon their fair values on the closing date. The valuation of intangible assets acquired is based on certain valuation assumptions including cash flow projections, discount rates, contributory asset charges and other valuation model inputs. The valuation of tangible long-lived assets acquired is dependent upon various analyses including an analysis of the condition and estimated remaining economic lives of the assets acquired. Vesta Modular: (dollar amounts in thousands) Rental equipment $ 212,639 Intangible assets: Goodwill 211,178 Customer relationships 29,900 Non-compete 7,100 Trade name 800 Cash 11 Accounts receivable 22,666 Property, plant and equipment 1,437 Prepaid expenses and other assets 3,550 Accounts payable and accrued liabilities ( 26,202 ) Deferred income ( 14,273 ) Deferred income taxes ( 11,596 ) Total purchase price $ 437,210 Brekke Storage: (dollar amounts in thousands) Rental equipment $ 10,798 Intangible assets: Goodwill 4,083 Customer relationships 949 Non-compete 59 Property, plant and equipment 875 Deferred income ( 382 ) Total purchase price $ 16,382 Dixie Storage: (dollar amounts in thousands) Rental equipment $ 2,758 Intangible assets: Goodwill 1,555 Customer relationships 259 Non-compete 22 Property, plant and equipment 318 Deferred income ( 161 ) Total purchase price $ 4,751
Summary of Pro Forma Data	(Unaudited) Nine months ended September 30, (dollar amounts in thousands, except for per share amounts) 2024 2023 (Actual) (Pro Forma) Pro-forma total revenues $ 667,196 $ 617,897 Pro-forma net income $ 192,778 $ 79,540 Pro-forma basic earnings per share $ 7.86 $ 3.25 Pro-forma diluted earnings per share $ 7.85 $ 3.25 Vesta Modular Actual total revenues $ 82,186 Actual net income $ 17,627 Actual basic earnings per share $ 0.72 Actual diluted earnings per share $ 0.72

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Summary of Results of Discontinued Operations Reported in Consolidated Statements of Income and Balance Sheets	The following table presents the results of Adler Tanks as reported in income from discontinued operations within the condensed consolidated statements of income for the nine months ended September 30, 2023: (dollar amounts in thousands) Nine Months Ended September 30, 2023 Revenues Rental $ 6,520 Rental related services 2,584 Rental operations 9,104 Sales 269 Other 65 Total revenues 9,438 Costs and Expenses Direct costs of rental operations: Depreciation of rental equipment 1,325 Rental related services 2,020 Other 1,270 Total direct costs of rental operations 4,614 Costs of sales 159 Total costs of revenues 4,773 Gross Profit Rental 3,926 Rental related services 564 Rental operations 4,490 Sales 110 Other 65 Total gross profit 4,665 Expenses: Selling and administrative expenses 2,582 Income from operations 2,083 Interest expense allocation 374 Income from discontinued operations before provision for income taxes 1,709 Provision for income taxes from discontinued operations 453 Income from discontinued operations $ 1,256 The following table presents the carrying value of the divested business' assets and liabilities as presented within assets and liabilities of discontinued operations on the consolidated balance sheets as of December 31, 2022, which was the most recently audited period prior to divestiture: December 31, (in thousands) 2022 Assets Accounts receivable, net of allowance for credit losses of $ 450 $ 20,086 Rental equipment, net 137,738 Property, plant and equipment, net 6,632 Prepaid expenses and other assets 191 Intangible assets, net 5,700 Goodwill 25,902 Total assets of discontinued operations $ 196,249 Liabilities Accounts payable and accrued liabilities $ 9,621 Deferred income taxes, net 43,550 Total liabilities of discontinued operations $ 53,171
Schedule of Operating and Investing Items Related to Discontinued Operations	For the nine months ended September 30, 2023, significant operating and investing items related to Adler Tanks were as follows: September 30, (in thousands) 2023 Operating activities of discontinued operations: Depreciation and amortization $ 1,457 Gain on sale of used rental equipment ( 111 ) Investing activities of discontinued operations: Proceeds from sales of used rental equipment 269 Purchases of rental equipment ( 25 ) Purchases of property, plant and equipment ( 40 )
Reconciliation of Income from Discontinued Operations to Adjusted EBITDA	The following table presents the reconciliation of income from discontinued operations to Adjusted EBITDA for the nine months ended September 30, 2023: September 30, (in thousands) 2023 Income from discontinued operations $ 1,256 Provision for income taxes from discontinued operations 453 Interest expense 374 Depreciation and amortization 1,457 EBITDA 3,540 Share-based compensation 118 Transaction costs 24 Adjusted EBITDA from discontinued operations $ 3,682

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2024
Disaggregation of Revenue [Abstract]
Summary of Disaggregates the Company's Revenue by Lease and Non Lease	The following table disaggregates the Company’s revenues by lease (within the scope of Topic 842) and non-lease revenues (within the scope of Topic 606) and the underlying service provided for the three and nine months ended September 30, 2024 and 2023: (in thousands) Mobile Portable Storage TRS- Enviroplex Consolidated Three Months Ended September 30, 2024 Leasing $ 109,249 $ 17,486 $ 26,524 $ — $ 153,259 Non-lease: Rental related services 16,131 4,127 755 — 21,013 Sales 65,994 1,411 7,169 17,499 92,073 Other 33 27 353 — 413 Total non-lease 82,158 5,565 8,277 17,499 113,499 Total revenues $ 191,407 $ 23,051 $ 34,801 $ 17,499 $ 266,758 2023 Leasing $ 93,676 $ 20,279 $ 29,711 $ — $ 143,666 Non-lease: Rental related services 13,224 5,027 664 — 18,915 Sales 57,723 1,144 8,341 9,515 76,723 Other 3,782 27 393 — 4,202 Total non-lease 74,729 6,198 9,398 9,515 99,840 Total revenues $ 168,405 $ 26,477 $ 39,109 $ 9,515 $ 243,506 Nine Months Ended September 30, 2024 Leasing $ 306,003 $ 54,881 $ 79,180 $ — $ 440,064 Non-lease: Rental related services 27,130 12,865 2,087 — 42,082 Sales 127,250 3,889 18,926 30,591 180,656 Other 3,153 200 1,041 — 4,394 Total non-lease 157,533 16,954 22,054 30,591 227,132 Total revenues $ 463,536 $ 71,835 $ 101,234 $ 30,591 $ 667,196 2023 Leasing $ 267,242 $ 56,791 $ 90,388 $ — $ 414,421 Non-lease: Rental related services 26,693 14,440 1,952 — 43,085 Sales 112,937 2,891 19,545 11,379 146,752 Other 4,737 70 1,189 — 5,996 Total non-lease 144,367 17,401 22,686 11,379 195,833 Total revenues $ 411,609 $ 74,192 $ 113,074 $ 11,379 $ 610,254

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Summary of Carrying Value of Inventories	The following table presents the carrying value of inventories: (dollar amounts in thousands) September 30, December 31, 2024 2023 Raw materials $ 3,500 $ 3,806 Work-in-process 18,785 11,619 Inventories $ 22,285 $ 15,425

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Weighted-Average Number of Shares of Common Stock Used to Calculate Basic and Diluted Earnings Per Share	The table below presents the weighted-average number of shares of common stock used to calculate basic and diluted earnings per share: Three Months Ended Nine Months Ended (in thousands) 2024 2023 2024 2023 Weighted-average number of shares of common stock for 24,551 24,487 24,538 24,461 Effect of potentially dilutive securities from equity-based 16 38 26 66 Weighted-average number of shares of common stock for 24,567 24,525 24,564 24,527

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	Intangible assets consist of the following: (dollar amounts in thousands) Estimated Average remaining life in years Cost Accumulated amortization Net book value September 30, 2024 Customer relationships 8 to 11 7.1 $ 73,217 $( 23,009 ) $ 50,208 Non-compete agreements 5 3.0 10,556 ( 4,719 ) 5,837 Trade name 0.75 to 8 4.5 2,000 ( 1,325 ) 675 Total amortizing 85,773 ( 29,053 ) 56,720 Trade name - non-amortizing Indefinite 171 — 171 Total $ 85,944 $( 29,053 ) $ 56,891 December 31, 2023 Customer relationships 8 to 11 7.8 $ 73,217 $( 17,003 ) $ 56,214 Non-compete agreements 5 3.7 10,556 ( 3,141 ) 7,415 Trade name 0.75 to 8 5.3 2,000 ( 1,212 ) 788 Total amortizing 85,773 ( 21,356 ) 64,417 Trade name - non-amortizing Indefinite 171 — 171 Total $ 85,944 $( 21,356 ) $ 64,588

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Summarized Financial Information for Company's Reportable Segments	Summarized financial information for the nine months ended September 30, 2024 and 2023 for the Company’s reportable segments are shown in the following table: (dollar amounts in thousands) Mobile Portable Storage TRS- Enviroplex 1 Corporate (Unallocated) Consolidated Nine Months Ended September 30, 2024 Rental revenues $ 236,040 $ 53,270 $ 76,398 $ — $ — $ 365,708 Rental related services revenues 95,450 13,768 2,422 — — 111,640 Sales and other revenues 132,046 4,796 22,414 30,591 — 189,847 Total revenues 463,536 71,835 101,234 30,591 — 667,196 Depreciation of rental equipment 29,994 2,971 33,547 — — 66,512 Gross profit 222,901 48,939 40,939 7,882 — 320,661 Selling and administrative expenses 100,882 22,064 20,450 5,368 — 148,764 Other income ( 6,220 ) ( 1,319 ) ( 1,742 ) — — ( 9,281 ) Income from operations 128,239 28,194 22,231 2,514 — 181,178 Interest expense (income) allocation 29,951 4,255 6,070 ( 1,893 ) — 38,383 Gain on merger termination from WillScot Mobile Mini 3 — — — — ( 180,000 ) ( 180,000 ) WillScot Mobile Mini transaction costs 4 — — — — 61,157 61,157 Income before provision for income taxes 98,288 23,939 16,214 4,407 118,843 261,691 Rental equipment acquisitions 129,837 7,818 16,295 — — 153,950 Accounts receivable, net (period end) 182,617 10,481 19,642 11,789 — 224,529 Rental equipment, at cost (period end) 1,398,422 241,620 356,979 — — 1,997,021 Rental equipment, net book value (period end) 1,051,703 220,139 119,840 — — 1,391,682 Utilization (period end) 2 76.5 % 62.0 % 59.0 % Average utilization 2 78.0 % 66.1 % 56.8 % 2023 Rental revenues $ 209,622 $ 54,776 $ 86,375 $ — $ — $ 350,773 Rental related services revenues 83,799 15,359 2,323 — — 101,481 Sales and other revenues 118,188 4,057 24,376 11,379 — 158,000 Total revenues 411,609 74,192 113,074 11,379 — 610,254 Depreciation of rental equipment 27,196 2,570 36,733 — — 66,499 Gross profit 183,682 50,288 47,184 2,357 — 283,511 Selling and administrative expenses 101,360 23,282 23,576 4,814 — 153,032 Other income ( 2,290 ) ( 450 ) ( 819 ) — — ( 3,559 ) Income (loss) from operations 84,612 27,456 24,427 ( 2,457 ) — 134,038 Interest expense (income) allocation 20,607 3,522 6,008 ( 1,703 ) — 28,434 Income (loss) before provision for income taxes 64,005 23,934 18,585 ( 754 ) — 105,770 Rental equipment acquisitions 121,751 20,316 21,801 — — 163,868 Accounts receivable, net (period end) 170,247 16,107 29,086 8,829 — 224,269 Rental equipment, at cost (period end) 1,245,462 228,897 383,006 — — 1,857,365 Rental equipment, net book value (period end) 929,776 211,418 150,674 — — 1,291,868 Utilization (period end) 2 80.2 % 77.2 % 60.3 % Average utilization 2 79.7 % 78.4 % 59.0 % 1. Gross Enviroplex sales revenues were $ 30,593 and $ 16,401 for the nine months ended September 30, 2024 and 2023, respectively. There were $ 2 and $ 218 of inter-segment sales to Mobile Modular in the nine months ended September 30, 2024 and 2023, respectively, which required elimination in consolidation. 2. Utilization is calculated each month by dividing the cost of rental equipment on rent by the total cost of rental equipment, excluding accessory equipment, and new equipment inventory. The Average utilization for the period is calculated using the average costs of rental equipment. 3. During the period ended September 30, 2024, the Company received $ 180 million in cash proceeds attributed to the mutual decision to terminate the Merger Agreement. These proceeds are reported as non-operating income on the Company's Condensed Consolidated Statements of Income and are reported in the Company's Corporate segment. 4. During the period ended September 30, 2024, the Company determined that transaction costs incurred by the Company attributed to the terminated Merger Agreement were significant. Due to this determination, the Company has separately reported these transaction costs in the Company's Corporate segment and excluded such costs from Selling and administrative expenses. The total transaction costs excluded from Selling and administrative expenses for the six months ended June 30, 2024, and the three months ended March 31, 2024, for Mobile Modular, Portable Storage and TRS-RenTelco was $ 15.5 million, $ 2.6 million and $ 3.6 million, respectively, and $ 6.5 million, $ 1.2 million and $ 1.7 million, respectively.

Condensed Consolidated Financ_2

Condensed Consolidated Financial Information - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Sep. 17, 2024	Sep. 30, 2024	Sep. 30, 2024
Condensed Financial Statements, Captions [Line Items]
Gain on merger termination from WillScot Mobile Mini Transaction costs			$ 118,843
Merger Agreement [Member] | WillScot Mobile Mini Holdings Corp [Member]
Condensed Financial Statements, Captions [Line Items]
Mini's cash payment upon termination agreement	$ 180,000
Gain on merger termination from WillScot Mobile Mini Transaction costs			180,000
Merger agreement termination costs		$ 39,400	61,200
Proceeds from business acquisition termination			$ 118,800

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) $ in Thousands				9 Months Ended	12 Months Ended
	Apr. 01, 2023 USD ($)	Mar. 01, 2023 USD ($) PortableStorage	Feb. 01, 2023 USD ($)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jul. 01, 2023 USD ($)
Business Acquisition [Line Items]
Combined acquired goodwill				$ 323,224	$ 323,224
Goodwill deductible for tax purpose, period				15 years
Intangible assets				$ 56,891	$ 64,588
Combined federal and state tax rate				26.50%
Non-compete Agreements [Member]
Business Acquisition [Line Items]
Acquired intangible assets, expected useful life				5 years	5 years
Vesta Modular [Member]
Business Acquisition [Line Items]
Purchase of assets			$ 437,200
Business acquisition, transaction costs			7,700
Purchase price			437,210
Combined acquired goodwill			$ 211,178
Vesta Modular [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Acquired intangible assets, expected useful life			11 years
Vesta Modular [Member] | Trade Name [Member]
Business Acquisition [Line Items]
Acquired intangible assets, expected useful life				9 months
Brekke Storage [Member]
Business Acquisition [Line Items]
Business acquisition, transaction costs		$ 200
Purchase price		$ 16,382
Increased number of portable storage | PortableStorage		2,700
Combined acquired goodwill		$ 4,083
Brekke Storage [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Acquired intangible assets, expected useful life		8 years
Vesta Modular, Brekke Storage and Dixie Storage [Member]
Business Acquisition [Line Items]
Combined acquired goodwill				$ 216,800
Dixie Storage [Member]
Business Acquisition [Line Items]
Business acquisition, transaction costs	$ 100
Purchase price	4,751
Purchase price including acquisition costs	4,900
Combined acquired goodwill	$ 1,555
Dixie Storage [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Acquired intangible assets, expected useful life	9 years
Inland Leasing [Member]
Business Acquisition [Line Items]
Purchase price						$ 3,800
Rental equipment						3,000
Intangible assets						$ 700

Acquisitions - Summary of Preli

Acquisitions - Summary of Preliminary Purchase Price Allocations Reflecting Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Apr. 01, 2023	Mar. 01, 2023	Feb. 01, 2023
Intangible assets:
Goodwill	$ 323,224	$ 323,224
Vesta Modular [Member]
Business Acquisition [Line Items]
Rental equipment					$ 212,639
Intangible assets:
Goodwill					211,178
Cash					11
Accounts receivable					22,666
Property, plant and equipment					1,437
Prepaid expenses and other assets					3,550
Accounts payable and accrued liabilities					(26,202)
Deferred income					(14,273)
Deferred income taxes					(11,596)
Total purchase price					437,210
Vesta Modular [Member] | Customer Relationships [Member]
Intangible assets:
Intangible assets					29,900
Vesta Modular [Member] | Trade Name [Member]
Intangible assets:
Intangible assets					800
Vesta Modular [Member] | Non-compete [Member]
Intangible assets:
Intangible assets					$ 7,100
Brekke Storage [Member]
Business Acquisition [Line Items]
Rental equipment				$ 10,798
Intangible assets:
Goodwill				4,083
Property, plant and equipment				875
Deferred income				(382)
Total purchase price				16,382
Brekke Storage [Member] | Customer Relationships [Member]
Intangible assets:
Intangible assets				949
Brekke Storage [Member] | Non-compete [Member]
Intangible assets:
Intangible assets				$ 59
Dixie Storage [Member]
Business Acquisition [Line Items]
Rental equipment			$ 2,758
Intangible assets:
Goodwill			1,555
Property, plant and equipment			318
Deferred income			(161)
Total purchase price			4,751
Dixie Storage [Member] | Customer Relationships [Member]
Intangible assets:
Intangible assets			259
Dixie Storage [Member] | Non-compete [Member]
Intangible assets:
Intangible assets			$ 22

Acquisitions - Summary of Pro F

Acquisitions - Summary of Pro Forma Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Pro-forma total revenues		$ 617,897
Pro-forma net income		$ 79,540
Pro-forma basic earnings per share		$ 3.25
Pro-forma diluted earnings per share		$ 3.25
Actual total revenues	$ 667,196
Actual net income	$ 192,778
Actual basic earnings per share	$ 7.86
Actual diluted earnings per share	$ 7.85
Vesta Modular [Member]
Business Acquisition [Line Items]
Actual total revenues		$ 82,186
Actual net income		$ 17,627
Actual basic earnings per share		$ 0.72
Actual diluted earnings per share		$ 0.72

Discontinued Operations - Addit

Discontinued Operations - Additional information (Detail) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
	Feb. 01, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total transaction costs		$ 24
Adler Tank Rentals, LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price	$ 268,000
Total transaction costs	$ 8,800		$ 6,700	$ 2,100

Discontinued Operations - Summa

Discontinued Operations - Summary of Results of Discontinued Operations Reported in Condensed Consolidated Statements of Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Expenses:
Interest expense allocation				$ 374
Income from discontinued operations before provision for income taxes				1,709
Provision for income taxes from discontinued operations				453
Income from discontinued operations				62,769
Sales [Member]
Revenues
Total non-lease revenues	$ 92,508	$ 77,115	$ 181,992	148,576
Other [Member]
Revenues
Total non-lease revenues	$ 2,346	$ 3,213	$ 7,855	9,424
Adler Tank Rentals, LLC
Revenues
Rental				6,520
Rental related services				2,584
Rental operations				9,104
Total revenues				9,438
Direct costs of rental operations:
Depreciation of rental equipment				1,325
Rental related services				2,020
Other				1,270
Total direct costs of rental operations				4,614
Costs of sales				159
Total costs of revenues				4,773
Gross Profit
Rental				3,926
Rental related services				564
Rental operations				4,490
Total gross profit				4,665
Expenses:
Selling and administrative expenses				2,582
Income from operations				2,083
Interest expense allocation				374
Income from discontinued operations before provision for income taxes				1,709
Provision for income taxes from discontinued operations				453
Income from discontinued operations				1,256
Adler Tank Rentals, LLC | Sales [Member]
Revenues
Total non-lease revenues				269
Gross Profit
Total gross profit				110
Adler Tank Rentals, LLC | Other [Member]
Revenues
Total non-lease revenues				65
Gross Profit
Total gross profit				$ 65

Discontinued Operations - Sched

Discontinued Operations - Schedule of Assets and Liabilities of Discontinued Operations Reported in Consolidated Balance Sheets (Detail) - Adler Tank Rentals, LLC $ in Thousands	Dec. 31, 2022 USD ($)
Assets
Accounts receivable, net of allowance for credit losses of $450	$ 20,086
Rental equipment, net	137,738
Property, plant and equipment, net	6,632
Prepaid expenses and other assets	191
Intangible assets, net	5,700
Goodwill	25,902
Total assets of discontinued operations	196,249
Liabilities
Accounts payable and accrued liabilities	9,621
Deferred income taxes, net	43,550
Total liabilities of discontinued operations	$ 53,171

Discontinued Operations - Sch_2

Discontinued Operations - Schedule of Assets and Liabilities on Discontinued Operations Reported in Consolidated Balance Sheets (Parenthetical (Detail) $ in Thousands	Dec. 31, 2022 USD ($)
Adler Tank Rentals, LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Allowance for credit losses	$ 450

Discontinued Operations - Sch_3

Discontinued Operations - Schedule of Operating and Investing Items Related to Discontinued Operations (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities of discontinued operations:
Depreciation and amortization		$ 1,457
Investing activities of discontinued operations:
Purchases of rental equipment	$ (167,269)	(171,322)
Purchases of property, plant and equipment	$ (36,070)	(16,448)
Adler Tank Rentals, LLC
Operating activities of discontinued operations:
Depreciation and amortization		1,457
Gain on sale of used rental equipment		(111)
Investing activities of discontinued operations:
Proceeds from sales of used rental equipment		269
Purchases of rental equipment		(25)
Purchases of property, plant and equipment		$ (40)

Discontinued Operations - Recon

Discontinued Operations - Reconciliation of Income from Discontinued Operations to Adjusted EBITDA (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Discontinued Operations and Disposal Groups [Abstract]
Income from discontinued operations	$ 1,256
Provision for income taxes from discontinued operations	453
Interest expense	374
Depreciation and amortization	1,457
EBITDA	3,540
Share-based compensation	118
Transaction costs	24
Adjusted EBITDA from discontinued operations	$ 3,682

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Disaggregation Of Revenue [Line Items]
Period for credit risk identified			30 days
Revenue from contracts criteria over time			multiple quarters
Sales revenues totaling	$ 10,600		$ 26,300
Revenues	266,758	$ 243,506	667,196	$ 610,254
Total Future minimum flease payments expected to be received	2,400		2,400
Future minimum flease payments expected to be received in 2025	1,700		1,700
Future minimum flease payments expected to be received in 2026	500		500
Future minimum flease payments expected to be received in 2027	200		200
Lease revenue	153,300		440,100
Operating lease revenue	152,700		438,500
Finance lease revenue	500		1,600
Finance lease revenue, sales revenue	400		1,300
Finance lease revenue, interest income	100		$ 300
Period for warranties for rental equipment			90 days
Period for warranties for equipment manufactured			1 year
Transferred at Point in Time [Member]
Disaggregation Of Revenue [Line Items]
Revenues	96,900		$ 198,900
Transferred Over Time [Member]
Disaggregation Of Revenue [Line Items]
Revenues	16,600		28,200
Deferred Income [Member]
Disaggregation Of Revenue [Line Items]
Customer contract liability	49,100		49,100		$ 40,700
Accounts Receivable [Member]
Disaggregation Of Revenue [Line Items]
Unbilled contract assets	$ 16,700		$ 16,700		$ 8,700

Revenue Recognition - Additio_2

Revenue Recognition - Additional Information (Detail 1) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation	$ 67.1
Revenue, remaining performance obligation, explanation	The Company expects to recognize revenue for approximately one half of these unsatisfied or partially satisfied performance obligations over the next 12 months, with the remaining balance recognized thereafter.

Revenue Recognition - Summary o

Revenue Recognition - Summary of Disaggregates the Company's Revenue by Lease and Non Lease (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024		Sep. 30, 2023
Disaggregation Of Revenue [Line Items]
Leasing revenues	$ 153,300		$ 440,100
Total revenues	266,758	$ 243,506	667,196		$ 610,254
Leasing [Member]
Disaggregation Of Revenue [Line Items]
Leasing revenues	153,259	143,666	440,064		414,421
Non-lease Rental Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	21,013	18,915	42,082		43,085
Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	92,073	76,723	180,656		146,752
Non-lease Other [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	413	4,202	4,394		5,996
Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	113,499	99,840	227,132		195,833
Mobile Modular [Member]
Disaggregation Of Revenue [Line Items]
Total revenues	191,407	168,405	463,536		411,609
Mobile Modular [Member] | Leasing [Member]
Disaggregation Of Revenue [Line Items]
Leasing revenues	109,249	93,676	306,003		267,242
Mobile Modular [Member] | Non-lease Rental Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	16,131	13,224	27,130		26,693
Mobile Modular [Member] | Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	65,994	57,723	127,250		112,937
Mobile Modular [Member] | Non-lease Other [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	33	3,782	3,153		4,737
Mobile Modular [Member] | Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	82,158	74,729	157,533		144,367
Portable Storage [Member]
Disaggregation Of Revenue [Line Items]
Total revenues	23,051	26,477	71,835		74,192
Portable Storage [Member] | Leasing [Member]
Disaggregation Of Revenue [Line Items]
Leasing revenues	17,486	20,279	54,881		56,791
Portable Storage [Member] | Non-lease Rental Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	4,127	5,027	12,865		14,440
Portable Storage [Member] | Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	1,411	1,144	3,889		2,891
Portable Storage [Member] | Non-lease Other [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	27	27	200		70
Portable Storage [Member] | Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	5,565	6,198	16,954		17,401
TRS-RenTelco [Member]
Disaggregation Of Revenue [Line Items]
Total revenues	34,801	39,109	101,234		113,074
TRS-RenTelco [Member] | Leasing [Member]
Disaggregation Of Revenue [Line Items]
Leasing revenues	26,524	29,711	79,180		90,388
TRS-RenTelco [Member] | Non-lease Rental Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	755	664	2,087		1,952
TRS-RenTelco [Member] | Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	7,169	8,341	18,926		19,545
TRS-RenTelco [Member] | Non-lease Other [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	353	393	1,041		1,189
TRS-RenTelco [Member] | Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	8,277	9,398	22,054		22,686
Enviroplex [Member]
Disaggregation Of Revenue [Line Items]
Total revenues	17,499	9,515	30,591	[1]	11,379	[1]
Enviroplex [Member] | Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	17,499	9,515	30,591		11,379
Enviroplex [Member] | Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	$ 17,499	$ 9,515	$ 30,591		$ 11,379
[1] Gross Enviroplex sales revenues were $ 30,593 and $ 16,401 for the nine months ended September 30, 2024 and 2023, respectively. There were $ 2 and $ 218 of inter-segment sales to Mobile Modular in the nine months ended September 30, 2024 and 2023, respectively, which required elimination in consolidation.

Earnings Per Share - Weighted-A

Earnings Per Share - Weighted-Average Number of Shares of Common Stock Used to Calculate Basic and Diluted Earnings Per Share (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Weighted-average number of shares of common stock for calculating basic earnings per share	24,551	24,487	24,538	24,461
Effect of potentially dilutive securities from equity-based compensation	16	38	26	66
Weighted-average number of shares of common stock for calculating diluted earnings per share	24,567	24,525	24,564	24,527

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share Basic [Line Items]
Anti-dilutive securities in the form of common stock excluded from computation of diluted earnings per share			0	1,800
Shares repurchased	0	0	0	0
Shares remain authorized for repurchase	2,000,000		2,000,000
Repurchase Plan Established in August 2015 [Member]
Earnings Per Share Basic [Line Items]
Shares remain authorized for repurchase	1,309,805		1,309,805
Maximum [Member]
Earnings Per Share Basic [Line Items]
Common stock shares authorized for repurchase	2,000,000		2,000,000

Inventories - Summary of Carryi

Inventories - Summary of Carrying Value of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 3,500	$ 3,806
Work-in-process	18,785	11,619
Inventories	$ 22,285	$ 15,425

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Cost	$ 85,773	$ 85,773
Accumulated amortization	(29,053)	(21,356)
Net book value	56,720	64,417
Indefinite, cost	171	171
Indefinite, net book value	171	171
Total, cost	85,944	85,944
Total, accumulated amortization	(29,053)	(21,356)
Total, net book value	$ 56,891	$ 64,588
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Average remaining life in years	7 years 1 month 6 days	7 years 9 months 18 days
Cost	$ 73,217	$ 73,217
Accumulated amortization	(23,009)	(17,003)
Net book value	$ 50,208	$ 56,214
Customer Relationships [Member] | Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated useful life in years	8 years	8 years
Customer Relationships [Member] | Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated useful life in years	11 years	11 years
Non-compete Agreements [Member]
Finite Lived Intangible Assets [Line Items]
Estimated useful life in years	5 years	5 years
Average remaining life in years	3 years	3 years 8 months 12 days
Cost	$ 10,556	$ 10,556
Accumulated amortization	(4,719)	(3,141)
Net book value	$ 5,837	$ 7,415
Trade Name [Member]
Finite Lived Intangible Assets [Line Items]
Average remaining life in years	4 years 6 months	5 years 3 months 18 days
Cost	$ 2,000	$ 2,000
Accumulated amortization	(1,325)	(1,212)
Net book value	$ 675	$ 788
Trade Name [Member] | Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated useful life in years	9 months	9 months
Trade Name [Member] | Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated useful life in years	8 years	8 years

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of goodwill and intangible assets	$ 0	$ 0
Amortization expense		7,700,000	$ 7,800,000
Changes to carrying value of goodwill during period		0
Subsequent impairment of the underlying assets		0
Expected annual amortization expense for 2024		2,600,000
Expected annual amortization expense for 2025		10,200,000
Expected annual amortization expense for 2026		9,800,000
Expected annual amortization expense for 2027		9,600,000
Expected annual amortization expense for 2028		8,200,000
Expected annual amortization expense for 2029		$ 4,700,000

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2024 Customer Segment	Sep. 30, 2023 Customer
Segment Reporting Information [Line Items]
Number of reportable segments | Segment	4
Customer Concentration Risk [Member] | Sales [Member]
Segment Reporting Information [Line Items]
Number of major customer | Customer	0	0
Geographic Concentration Risk [Member] | Sales [Member] | Foreign Country Customers [Member]
Segment Reporting Information [Line Items]
Revenues from customers	2%	3%

Segment Reporting - Summarized

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Detail) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended	9 Months Ended
		Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2024	Sep. 30, 2024		Sep. 30, 2023
Segment Reporting Information [Line Items]
Rental revenues						$ 365,708		$ 350,773
Rental related services revenues						111,640		101,481
Sales and other revenues						189,847		158,000
Total revenues		$ 266,758		$ 243,506		667,196		610,254
Depreciation of rental equipment						66,512		66,499
Gross profit						320,661		283,511
Selling and administrative expenses						148,764		153,032
Other income						(9,281)		(3,559)
Income (loss) from operations						181,178		134,038
Interest expense (income) allocation						38,383		28,434
Gain on merger termination from WillScot Mobile Mini		(180,000)				(180,000)	[1]
WillScot Mobile Mini transaction costs		39,436				61,157	[2]
Income (loss) before provision for income taxes						261,691		105,770
Rental equipment acquisitions						153,950		163,868
Accounts receivable, net (period end)		224,529		224,269		224,529		224,269
Rental equipment, at cost (period end)		1,997,021		1,857,365		1,997,021		1,857,365
Rental equipment, net book value (period end)		1,391,682		1,291,868		1,391,682		1,291,868
Mobile Modular [Member]
Segment Reporting Information [Line Items]
Rental revenues						236,040		209,622
Rental related services revenues						95,450		83,799
Sales and other revenues						132,046		118,188
Total revenues		191,407		168,405		463,536		411,609
Depreciation of rental equipment						29,994		27,196
Gross profit						222,901		183,682
Selling and administrative expenses						100,882		101,360
Other income						(6,220)		(2,290)
Income (loss) from operations						128,239		84,612
Interest expense (income) allocation						29,951		20,607
WillScot Mobile Mini transaction costs			$ 6,500		$ 15,500
Income (loss) before provision for income taxes						98,288		64,005
Rental equipment acquisitions						129,837		121,751
Accounts receivable, net (period end)		182,617		170,247		182,617		170,247
Rental equipment, at cost (period end)		1,398,422		1,245,462		1,398,422		1,245,462
Rental equipment, net book value (period end)		1,051,703		929,776		$ 1,051,703		$ 929,776
Utilization (period end)	[3]					76.50%		80.20%
Average utilization	[3]					78%		79.70%
Portable Storage [Member]
Segment Reporting Information [Line Items]
Rental revenues						$ 53,270		$ 54,776
Rental related services revenues						13,768		15,359
Sales and other revenues						4,796		4,057
Total revenues		23,051		26,477		71,835		74,192
Depreciation of rental equipment						2,971		2,570
Gross profit						48,939		50,288
Selling and administrative expenses						22,064		23,282
Other income						(1,319)		(450)
Income (loss) from operations						28,194		27,456
Interest expense (income) allocation						4,255		3,522
WillScot Mobile Mini transaction costs			1,200		2,600
Income (loss) before provision for income taxes						23,939		23,934
Rental equipment acquisitions						7,818		20,316
Accounts receivable, net (period end)		10,481		16,107		10,481		16,107
Rental equipment, at cost (period end)		241,620		228,897		241,620		228,897
Rental equipment, net book value (period end)		220,139		211,418		$ 220,139		$ 211,418
Utilization (period end)	[3]					62%		77.20%
Average utilization	[3]					66.10%		78.40%
TRS-RenTelco [Member]
Segment Reporting Information [Line Items]
Rental revenues						$ 76,398		$ 86,375
Rental related services revenues						2,422		2,323
Sales and other revenues						22,414		24,376
Total revenues		34,801		39,109		101,234		113,074
Depreciation of rental equipment						33,547		36,733
Gross profit						40,939		47,184
Selling and administrative expenses						20,450		23,576
Other income						(1,742)		(819)
Income (loss) from operations						22,231		24,427
Interest expense (income) allocation						6,070		6,008
WillScot Mobile Mini transaction costs			$ 1,700		$ 3,600
Income (loss) before provision for income taxes						16,214		18,585
Rental equipment acquisitions						16,295		21,801
Accounts receivable, net (period end)		19,642		29,086		19,642		29,086
Rental equipment, at cost (period end)		356,979		383,006		356,979		383,006
Rental equipment, net book value (period end)		119,840		150,674		$ 119,840		$ 150,674
Utilization (period end)	[3]					59%		60.30%
Average utilization	[3]					56.80%		59%
Enviroplex [Member]
Segment Reporting Information [Line Items]
Sales and other revenues	[4]					$ 30,591		$ 11,379
Total revenues		17,499		9,515		30,591	[4]	11,379	[4]
Gross profit	[4]					7,882		2,357
Selling and administrative expenses	[4]					5,368		4,814
Income (loss) from operations	[4]					2,514		(2,457)
Interest expense (income) allocation	[4]					(1,893)		(1,703)
Income (loss) before provision for income taxes	[4]					4,407		(754)
Accounts receivable, net (period end)	[4]	$ 11,789		$ 8,829		11,789		$ 8,829
Corporate (Unallocated) [Member]
Segment Reporting Information [Line Items]
Gain on merger termination from WillScot Mobile Mini	[1]					(180,000)
WillScot Mobile Mini transaction costs	[2]					61,157
Income (loss) before provision for income taxes						$ 118,843
[1] During the period ended September 30, 2024, the Company received $ 180 million in cash proceeds attributed to the mutual decision to terminate the Merger Agreement. These proceeds are reported as non-operating income on the Company's Condensed Consolidated Statements of Income and are reported in the Company's Corporate segment. During the period ended September 30, 2024, the Company determined that transaction costs incurred by the Company attributed to the terminated Merger Agreement were significant. Due to this determination, the Company has separately reported these transaction costs in the Company's Corporate segment and excluded such costs from Selling and administrative expenses. The total transaction costs excluded from Selling and administrative expenses for the six months ended June 30, 2024, and the three months ended March 31, 2024, for Mobile Modular, Portable Storage and TRS-RenTelco was $ 15.5 million, $ 2.6 million and $ 3.6 million, respectively, and $ 6.5 million, $ 1.2 million and $ 1.7 million, respectively. Utilization is calculated each month by dividing the cost of rental equipment on rent by the total cost of rental equipment, excluding accessory equipment, and new equipment inventory. The Average utilization for the period is calculated using the average costs of rental equipment. Gross Enviroplex sales revenues were $ 30,593 and $ 16,401 for the nine months ended September 30, 2024 and 2023, respectively. There were $ 2 and $ 218 of inter-segment sales to Mobile Modular in the nine months ended September 30, 2024 and 2023, respectively, which required elimination in consolidation.

Segment Reporting - Summarize_2

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended
	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2024	Sep. 30, 2024		Sep. 30, 2023
Segment Reporting Information [Line Items]
Revenues	$ 266,758		$ 243,506		$ 667,196		$ 610,254
Cash proceeds received attributed to terminate WillScot Mobile Mini Merger Agreement	180,000				180,000	[1]
Transaction costs	39,436				61,157	[2]
Sales [Member]
Segment Reporting Information [Line Items]
Sales revenues	$ 92,508		$ 77,115		181,992		148,576
Mobile Modular [Member]
Segment Reporting Information [Line Items]
Transaction costs		$ 6,500		$ 15,500
Portable Storage [Member]
Segment Reporting Information [Line Items]
Transaction costs		1,200		2,600
TRS-RenTelco [Member]
Segment Reporting Information [Line Items]
Transaction costs		$ 1,700		$ 3,600
Operating Segments [Member] | Enviroplex [Member] | Sales [Member]
Segment Reporting Information [Line Items]
Revenues					30,593		16,401
Inter-segment Eliminations [Member] | Mobile Modular [Member]
Segment Reporting Information [Line Items]
Sales revenues					$ 2		$ 218
[1] During the period ended September 30, 2024, the Company received $ 180 million in cash proceeds attributed to the mutual decision to terminate the Merger Agreement. These proceeds are reported as non-operating income on the Company's Condensed Consolidated Statements of Income and are reported in the Company's Corporate segment. During the period ended September 30, 2024, the Company determined that transaction costs incurred by the Company attributed to the terminated Merger Agreement were significant. Due to this determination, the Company has separately reported these transaction costs in the Company's Corporate segment and excluded such costs from Selling and administrative expenses. The total transaction costs excluded from Selling and administrative expenses for the six months ended June 30, 2024, and the three months ended March 31, 2024, for Mobile Modular, Portable Storage and TRS-RenTelco was $ 15.5 million, $ 2.6 million and $ 3.6 million, respectively, and $ 6.5 million, $ 1.2 million and $ 1.7 million, respectively.