McGrath RentCorp (MGRC) 10-Q 30 Apr 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	Apr. 29, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Trading Symbol	'MGRC	'
Entity Registrant Name	'MCGRATH RENTCORP	'
Entity Central Index Key	'0000752714	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	25,873,476

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
REVENUES	'	'
Rental	$62,430	$60,601
Rental Related Services	13,512	10,845
Rental Operations	75,942	71,446
Sales	11,038	16,765
Other	492	502
Total Revenues	87,472	88,713
Direct Costs of Rental Operations:	'	'
Depreciation of Rental Equipment	17,897	16,602
Rental Related Services	10,307	8,922
Other	13,550	12,357
Total Direct Costs of Rental Operations	41,754	37,881
Costs of Sales	7,168	11,834
Total Costs of Revenues	48,922	49,715
Gross Profit	38,550	38,998
Selling and Administrative Expenses	23,411	21,638
Income from Operations	15,139	17,360
Interest Expense	2,203	2,203
Income Before Provision for Income Taxes	12,936	15,157
Provision for Income Taxes	5,065	5,942
Net Income	$7,871	$9,215
Earnings Per Share:	'	'
Basic	$0.31	$0.37
Diluted	$0.30	$0.36
Shares Used in Per Share Calculation:	'	'
Basic	25,789	25,003
Diluted	26,230	25,435
Cash Dividends Declared Per Share	$0.25	$0.24

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Statement Of Income And Comprehensive Income [Abstract]	'	'
Net Income	$7,871	$9,215
Other Comprehensive Loss:	'	'
Foreign Currency Translation Adjustment, net of Tax Provision of $6 in 2014	28	'
Comprehensive Income	$7,899	$9,215

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Statement Of Income And Comprehensive Income [Abstract]	'
Foreign Currency Translation Adjustment, Tax Provision	$6

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS	'	'
Cash	$1,211	$1,630
Accounts Receivable, net of allowance for doubtful accounts of $2,022 in 2014 and $2,007 in 2013	83,071	87,650
Rental Equipment, at cost:	'	'
Relocatable Modular Buildings	607,616	592,391
Electronic Test Equipment	263,545	267,772
Liquid and Solid Containment Tanks and Boxes	288,641	284,005
Rental Equipment, gross	1,159,802	1,144,168
Less Accumulated Depreciation	-383,927	-377,158
Rental Equipment, net	775,875	767,010
Property, Plant and Equipment, net	106,169	105,187
Prepaid Expenses and Other Assets	17,131	19,718
Intangible Assets, net	10,456	10,662
Goodwill	27,700	27,700
Total Assets	1,021,613	1,019,557
Liabilities:	'	'
Notes Payable	288,081	290,003
Accounts Payable and Accrued Liabilities	64,963	63,318
Deferred Income	21,688	24,003
Deferred Income Taxes, net	245,318	241,203
Total Liabilities	620,050	618,527
Shareholders' Equity:	'	'
Common Stock, no par value - Authorized - 40,000 shares Issued and Outstanding - 25,873 shares in 2014 and 25,757 shares in 2013	102,050	103,023
Retained Earnings	299,516	298,038
Accumulated Other Comprehensive Loss	-3	-31
Total Shareholders' Equity	401,563	401,030
Total Liabilities and Shareholders' Equity	$1,021,613	$1,019,557

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Statement Of Financial Position [Abstract]	'	'
Allowance for doubtful accounts	$2,022	$2,007
Common Stock, par value	'	'
Common Stock, shares authorized	40,000	40,000
Common Stock, shares issued	25,873	25,757
Common Stock, shares outstanding	25,873	25,757

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net Income	$7,871	$9,215
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:	'	'
Depreciation and Amortization	19,932	18,808
Provision for Doubtful Accounts	456	696
Non-Cash Share-Based Compensation	955	1,126
Gain on Sale of Used Rental Equipment	-2,500	-3,334
Change In:	'	'
Accounts Receivable	4,123	4,534
Prepaid Expenses and Other Assets	2,587	5,528
Accounts Payable and Accrued Liabilities	2,828	7,872
Deferred Income	-2,315	-6,282
Deferred Income Taxes	4,115	3,457
Net Cash Provided by Operating Activities	38,052	41,620
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Purchase of Rental Equipment	-31,759	-25,151
Purchase of Property, Plant and Equipment	-2,812	-1,553
Proceeds from Sale of Used Rental Equipment	6,430	6,805
Net Cash Used in Investing Activities	-28,141	-19,899
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Net Repayments Under Bank Lines of Credit	-41,922	-20,749
Borrowing Under Private Placement	40,000	'
Proceeds from the Exercise of Stock Options	76	3,964
Excess Tax Benefit from Exercise and Disqualifying Disposition of Stock Options	508	715
Payment of Dividends	-6,489	-6,060
Taxes Paid Related to Net Share Settlement of Stock Awards	-2,512	-742
Net Cash Used in Financing Activities	-10,339	-22,872
Effect of Exchange Rate Changes on Cash	9	'
Net Decrease in Cash	-419	-1,151
Cash Balance, beginning of period	1,630	1,612
Cash Balance, end of period	1,211	461
Interest Paid, during the period	1,157	1,276
Net Income Taxes Paid, during the period	339	1,519
Dividends Accrued During the Period, not yet paid	6,387	6,133
Rental Equipment Acquisitions, not yet paid	$7,464	$6,660

Condensed_Consolidated_Financi

Condensed Consolidated Financial Information	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Condensed Consolidated Financial Information	'
	NOTE 1. CONDENSED CONSOLIDATED FINANCIAL INFORMATION
	The condensed consolidated financial statements for the three months ended March 31, 2014 and 2013 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 months ended March 31, 2014 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 financial statements and notes thereto included in the Company’s latest Annual Report on Form 10-K filed with the SEC on February 28, 2014 for the year ended December 31, 2013 (the “2013 Annual Report”).
	In order to conform to current year presentation, certain amounts on the Consolidated Condensed Statements of Cash Flows were reclassified from Proceeds from the Exercise of Stock Options to Taxes Paid Related to Net Share Settlement of Stock Awards. This reclassification had no impact on net income, earnings per share or operating cash flows.

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	NOTE 2. 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 March 31,
	(in thousands)	2014		2013
	Weighted-average number of shares of common stock for calculating basic earnings per share		25,789		25,003
	Effect of potentially dilutive securities from equity-based compensation		441		432
	Weighted-average number of shares of common stock for calculating diluted earnings per share		26,230		25,435
	The following securities were not included in the computation of diluted earnings per share as their effect would have been anti-dilutive:
		Three Months Ended
		March 31,
	(in thousands)	2014		2013
	Options to purchase shares of common stock		9		569

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	NOTE 3. RELATED PARTY TRANSACTIONS
	The Company acquired liquid and solid containment tanks totaling $4.0 million during the three months ended March 31, 2013 from Sabre Manufacturing, LLC (“Sabre”), which was controlled by the President of Adler Tanks until August 16, 2013 when Sabre was sold to an unrelated party. Amounts due to Sabre at March 31, 2013 were $2.1 million. There were no related party transactions in the three months ended March 31, 2014, or amounts owed to related parties at such date.

Intangible_Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2014
Goodwill And Intangible Assets Disclosure [Abstract]	'
Intangible Assets	'
	NOTE 4. INTANGIBLE ASSETS
	Intangible assets consist of the following:
	(dollar amounts in thousands)	Estimated	March 31,			December 31,
		Useful Life	2014			2013
		In Years
	Trade Name	Indefinite	$	5,700		$	5,700
	Customer Relationships	11		9,100			9,100
				14,800			14,800
	Less Accumulated Amortization			(4,344	)		(4,138	)
			$	10,456		$	10,662
	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 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 assets’ 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 typically conducts its annual impairment analysis in the fourth quarter of its fiscal year. The impairment analysis did not result in an impairment charge for the fiscal year ended December 31, 2013. Determining the fair value of a reporting unit is judgmental and involves the use of significant estimates and assumptions. The Company based 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. Based on the carrying values at March 31, 2014 and assuming no subsequent impairment of the underlying assets, the amortization expense is expected to be $0.6 million for the remainder of fiscal year 2014 and $0.8 million in each of the fiscal years 2015 through 2019.

Note_Purchase_and_Private_Shel

Note Purchase and Private Shelf Agreement	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Note Purchase and Private Shelf Agreement	'
	NOTE 5. NOTE PURCHASE AND PRIVATE SHELF AGREEMENT
	On March 17, 2014, the Company entered into an Amendment to the Note Purchase and Private Shelf Agreement (“Amendment”) with Prudential Investment Management, Inc. (“PIM”), The Prudential Insurance Company of America and Prudential Retirement Insurance and Annuity Company (collectively with PIM, the “Purchasers”). The Amendment amended certain terms of the Note Purchase and Private Shelf Agreement, dated April 21, 2011 between the Company and the Purchasers (the “Agreement”). Pursuant to the Amendment, among other things, the issuance period for the senior notes (the “Shelf Notes”) to be issued and sold pursuant to the Agreement is extended until the earlier of March 17, 2017 or the termination of the issuance and sale of the Shelf Notes upon the 30 days’ prior notice of either PIM or the Company.
	On March 17, 2014, the Company also issued and sold to the Purchasers a $40.0 million aggregate principal amount of its 3.68% Series B Senior Notes (the “Notes”) pursuant to the terms of the Agreement, as amended. The Notes are an unsecured obligation of the Company. The Notes bear interest at a rate of 3.68% per annum and mature on March 17, 2021. Interest on the Notes is payable semi-annually beginning on September 17, 2014 and continuing thereafter on March 17 and September 17 of each year until maturity. The full net proceeds from the Notes will be used for working capital and other general corporate purposes.

Segment_Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Segment Reporting	'
	NOTE 6. SEGMENT REPORTING
	The Company’s four reportable segments are (1) its modular building rental division (“Mobile Modular”); (2) its electronic test equipment rental division (“TRS-RenTelco”); (3) its containment solutions for the storage of hazardous and non-hazardous liquids and solids division (“Adler Tanks”); and (4) its classroom manufacturing division 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 2 – Significant Accounting Policies” in the Company’s annual report on Form 10-K for the year ended December 31, 2013. Management focuses on several key measures to evaluate and assess each segment’s performance, including rental revenue growth, gross profit, 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, TRS-RenTelco and Adler Tanks based on their pro-rata share of direct revenues. Interest expense is allocated among Mobile Modular, TRS-RenTelco and Adler Tanks based on their pro-rata share of average rental equipment at cost, intangible assets, accounts receivable, deferred income and customer security deposits. The Company does not report total assets by business segment. Summarized financial information for the three months ended March 31, 2014 and 2013 for the Company’s reportable segments is shown in the following table:
	(dollar amounts in thousands)		Mobile			TRS-			Adler			Enviroplex 1			Consolidated
			Modular			RenTelco			Tanks
	Three Months Ended March 31,
	2014
	Rental Revenues		$	21,533		$	23,760		$	17,137		$	—		$	62,430
	Rental Related Services Revenues			7,317			722			5,473			—			13,512
	Sales and Other Revenues			4,790			5,071			564			1,105			11,530
	Total Revenues			33,640			29,553			23,174			1,105			87,472
	Depreciation of Rental Equipment			3,831			10,391			3,675			—			17,897
	Gross Profit			12,704			12,987			12,440			419			38,550
	Selling and Administrative Expenses			9,740			6,037			6,896			738			23,411
	Income (Loss) from Operations			2,964			6,950			5,544			(319	)		15,139
	Interest Expense (Income) Allocation			1,103			523			623			(46	)		2,203
	Income (Loss) before Provision for Income Taxes			1,861			6,427			4,921			(273	)		12,936
	Rental Equipment Acquisitions			16,825			8,375			5,195			—			30,395
	Accounts Receivable, net (period end)			36,512			23,731			21,430			1,398			83,071
	Rental Equipment, at cost (period end)			607,616			263,545			288,641			—			1,159,802
	Rental Equipment, net book value (period end)			426,983			106,164			242,728			—			775,875
	Utilization (period end) 2			69.4	%		56.4	%		64.5	%
	Average Utilization 2			69.9	%		56.8	%		61	%
	2013
	Rental Revenues		$	19,329		$	24,841		$	16,431		$	—		$	60,601
	Rental Related Services Revenues			5,914			666			4,265			—			10,845
	Sales and Other Revenues			3,748			7,207			119			6,193			17,267
	Total Revenues			28,991			32,714			20,815			6,193			88,713
	Depreciation of Rental Equipment			3,518			9,816			3,268			—			16,602
	Gross Profit (Loss)			11,662			15,594			11,143			599			38,998
	Selling and Administrative Expenses			8,800			6,094			5,992			752			21,638
	Income (Loss) from Operations			2,862			9,500			5,151			(153	)		17,360
	Interest Expense (Income) Allocation			1,093			557			609			(56	)		2,203
	Income (Loss) before Provision for Income Taxes			1,769			8,943			4,542			(97	)		15,157
	Rental Equipment Acquisitions			8,490			12,198			6,754			—			27,442
	Accounts Receivable, net (period end)			36,259			25,627			22,049			3,091			87,026
	Rental Equipment, at cost (period end)			558,471			267,411			261,483			—			1,087,365
	Rental Equipment, net book value (period end)			388,960			107,683			229,457			—			726,100
	Utilization (period end) 2			66.1	%		63.3	%		63.5	%
	Average Utilization 2			66.4	%		63.8	%		64.7	%
	1	Gross Enviroplex sales revenues were $1,105 and $6,193 for the three months ended March 31, 2014 and 2013, respectively. There were no inter-segment sales to Mobile Modular in these periods, which required elimination.
	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 for Mobile Modular and Adler Tanks excluding new equipment inventory. The Average Utilization for the period is calculated using the average costs of rental equipment.
	No single customer accounted for more than 10% of total revenues for the three months ended March 31, 2014 and 2013. Revenues from foreign country customers accounted for 6% and 5%, respectively, of the Company’s total revenues for the same periods.

Segment_Reporting_Policies

Segment Reporting (Policies)	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Segment Reporting	'
	Management focuses on several key measures to evaluate and assess each segment’s performance, including rental revenue growth, gross profit, 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, TRS-RenTelco and Adler Tanks based on their pro-rata share of direct revenues. Interest expense is allocated among Mobile Modular, TRS-RenTelco and Adler Tanks based on their pro-rata share of average rental equipment at cost, intangible assets, accounts receivable, deferred income and customer security deposits. The Company does not report total assets by business segment.

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2014
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 March 31,
	(in thousands)	2014		2013
	Weighted-average number of shares of common stock for calculating basic earnings per share		25,789		25,003
	Effect of potentially dilutive securities from equity-based compensation		441		432
	Weighted-average number of shares of common stock for calculating diluted earnings per share		26,230		25,435
Securities Not Included in Computation of Diluted Earnings Per Share	'
	The following securities were not included in the computation of diluted earnings per share as their effect would have been anti-dilutive:
		Three Months Ended
		March 31,
	(in thousands)	2014		2013
	Options to purchase shares of common stock		9		569

Intangible_Assets_Tables

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2014
Goodwill And Intangible Assets Disclosure [Abstract]	'
Summary of Intangible Assets	'
	Intangible assets consist of the following:
	(dollar amounts in thousands)	Estimated	March 31,			December 31,
		Useful Life	2014			2013
		In Years
	Trade Name	Indefinite	$	5,700		$	5,700
	Customer Relationships	11		9,100			9,100
				14,800			14,800
	Less Accumulated Amortization			(4,344	)		(4,138	)
			$	10,456		$	10,662

Segment_Reporting_Tables

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Summarized Financial Information for Company's Reportable Segments	'
	Summarized financial information for the three months ended March 31, 2014 and 2013 for the Company’s reportable segments is shown in the following table:
	(dollar amounts in thousands)		Mobile			TRS-			Adler			Enviroplex 1			Consolidated
			Modular			RenTelco			Tanks
	Three Months Ended March 31,
	2014
	Rental Revenues		$	21,533		$	23,760		$	17,137		$	—		$	62,430
	Rental Related Services Revenues			7,317			722			5,473			—			13,512
	Sales and Other Revenues			4,790			5,071			564			1,105			11,530
	Total Revenues			33,640			29,553			23,174			1,105			87,472
	Depreciation of Rental Equipment			3,831			10,391			3,675			—			17,897
	Gross Profit			12,704			12,987			12,440			419			38,550
	Selling and Administrative Expenses			9,740			6,037			6,896			738			23,411
	Income (Loss) from Operations			2,964			6,950			5,544			(319	)		15,139
	Interest Expense (Income) Allocation			1,103			523			623			(46	)		2,203
	Income (Loss) before Provision for Income Taxes			1,861			6,427			4,921			(273	)		12,936
	Rental Equipment Acquisitions			16,825			8,375			5,195			—			30,395
	Accounts Receivable, net (period end)			36,512			23,731			21,430			1,398			83,071
	Rental Equipment, at cost (period end)			607,616			263,545			288,641			—			1,159,802
	Rental Equipment, net book value (period end)			426,983			106,164			242,728			—			775,875
	Utilization (period end) 2			69.4	%		56.4	%		64.5	%
	Average Utilization 2			69.9	%		56.8	%		61	%
	2013
	Rental Revenues		$	19,329		$	24,841		$	16,431		$	—		$	60,601
	Rental Related Services Revenues			5,914			666			4,265			—			10,845
	Sales and Other Revenues			3,748			7,207			119			6,193			17,267
	Total Revenues			28,991			32,714			20,815			6,193			88,713
	Depreciation of Rental Equipment			3,518			9,816			3,268			—			16,602
	Gross Profit (Loss)			11,662			15,594			11,143			599			38,998
	Selling and Administrative Expenses			8,800			6,094			5,992			752			21,638
	Income (Loss) from Operations			2,862			9,500			5,151			(153	)		17,360
	Interest Expense (Income) Allocation			1,093			557			609			(56	)		2,203
	Income (Loss) before Provision for Income Taxes			1,769			8,943			4,542			(97	)		15,157
	Rental Equipment Acquisitions			8,490			12,198			6,754			—			27,442
	Accounts Receivable, net (period end)			36,259			25,627			22,049			3,091			87,026
	Rental Equipment, at cost (period end)			558,471			267,411			261,483			—			1,087,365
	Rental Equipment, net book value (period end)			388,960			107,683			229,457			—			726,100
	Utilization (period end) 2			66.1	%		63.3	%		63.5	%
	Average Utilization 2			66.4	%		63.8	%		64.7	%
	1	Gross Enviroplex sales revenues were $1,105 and $6,193 for the three months ended March 31, 2014 and 2013, respectively. There were no inter-segment sales to Mobile Modular in these periods, which required elimination.
	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 for Mobile Modular and Adler Tanks excluding new equipment inventory. The Average Utilization for the period is calculated using the average costs of rental equipment.

Earnings_Per_Share_WeightedAve

Earnings Per Share - Weighted-Average Number of Shares of Common Stock Used to Calculate Basic and Diluted Earnings Per Share (Detail)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Earnings Per Share [Abstract]	'	'
Weighted-average number of shares of common stock for calculating basic earnings per share	25,789	25,003
Effect of potentially dilutive securities from equity-based compensation	441	432
Weighted-average number of shares of common stock for calculating diluted earnings per share	26,230	25,435

Earnings_Per_Share_Securities_

Earnings Per Share - Securities Not Included in Computation of Diluted Earnings Per Share (Detail)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Earnings Per Share [Abstract]	'	'
Options to purchase shares of common stock	9	569

Related_Party_Transactions_Add

Related Party Transactions - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Related Party Transactions [Abstract]	'	'
Acquisition of liquid and solid containment tanks	'	$4
Amounts due to Sabre Manufacturing, LLC	'	2.1
Related party transactions	$0	'

Intangible_Assets_Summary_of_I

Intangible Assets - Summary of Intangible Assets (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Goodwill And Intangible Assets Disclosure [Abstract]	'	'
Trade Name	$5,700	$5,700
Customer Relationships	9,100	9,100
Intangible Assets, Gross	14,800	14,800
Less Accumulated Amortization	-4,344	-4,138
Intangible Assets, net	$10,456	$10,662
Estimated Useful Life in Years	'11 years	'

Intangible_Assets_Additional_I

Intangible Assets - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Goodwill And Intangible Assets Disclosure [Abstract]	'
Subsequent impairment of the underlying assets	$0
Expected amortization expense for 2014	0.6
Expected amortization expense for 2015	0.8
Expected amortization expense for 2016	0.8
Expected amortization expense for 2017	0.8
Expected amortization expense for 2018	0.8
Expected amortization expense for 2019	$0.80

Note_Purchase_and_Private_Shel1

Note Purchase and Private Shelf Agreement - Additional Information (Detail) (3.68% Series B Senior Notes Mature on March 17, 2021 [Member], USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 17, 2014
3.68% Series B Senior Notes Mature on March 17, 2021 [Member]	'	'
Debt Instrument [Line Items]	'	'
Aggregate principal amount	'	$40
Senior Notes, interest rate	'	3.68%
Debt instrument, payment terms	'Interest on the Notes is payable semi-annually beginning on September 17, 2014 and continuing thereafter on March 17 and September 17 of each year until maturity.	'
Debt instrument, maturity date	17-Mar-21	'

Segment_Reporting_Additional_I

Segment Reporting - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting Information [Line Items]	'	'
Number of reportable segments	4	'
Sales [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Revenues from customers	10.00%	10.00%
Sales [Member] | Foreign country customers [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Revenues from customers	6.00%	5.00%

Segment_Reporting_Summarized_F

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Segment Reporting Information [Line Items]	'	'	'
Rental Revenues	$62,430	$60,601	'
Rental Related Services Revenues	13,512	10,845	'
Sales and Other Revenues	11,530	17,267	'
Total Revenues	87,472	88,713	'
Depreciation of Rental Equipment	17,897	16,602	'
Gross Profit (Loss)	38,550	38,998	'
Selling and Administrative Expenses	23,411	21,638	'
Income (Loss) from Operations	15,139	17,360	'
Interest Expense (Income) Allocation	2,203	2,203	'
Income (Loss) before Provision for Income Taxes	12,936	15,157	'
Rental Equipment Acquisitions	30,395	27,442	'
Accounts Receivable, net (period end)	83,071	87,026	87,650
Rental Equipment, at cost (period end)	1,159,802	1,087,365	1,144,168
Rental Equipment, net book value (period end)	775,875	726,100	767,010
Mobile Modular [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Rental Revenues	21,533	19,329	'
Rental Related Services Revenues	7,317	5,914	'
Sales and Other Revenues	4,790	3,748	'
Total Revenues	33,640	28,991	'
Depreciation of Rental Equipment	3,831	3,518	'
Gross Profit (Loss)	12,704	11,662	'
Selling and Administrative Expenses	9,740	8,800	'
Income (Loss) from Operations	2,964	2,862	'
Interest Expense (Income) Allocation	1,103	1,093	'
Income (Loss) before Provision for Income Taxes	1,861	1,769	'
Rental Equipment Acquisitions	16,825	8,490	'
Accounts Receivable, net (period end)	36,512	36,259	'
Rental Equipment, at cost (period end)	607,616	558,471	'
Rental Equipment, net book value (period end)	426,983	388,960	'
Utilization (period end)	69.40%	66.10%	'
Average Utilization	69.90%	66.40%	'
TRS-RenTelco [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Rental Revenues	23,760	24,841	'
Rental Related Services Revenues	722	666	'
Sales and Other Revenues	5,071	7,207	'
Total Revenues	29,553	32,714	'
Depreciation of Rental Equipment	10,391	9,816	'
Gross Profit (Loss)	12,987	15,594	'
Selling and Administrative Expenses	6,037	6,094	'
Income (Loss) from Operations	6,950	9,500	'
Interest Expense (Income) Allocation	523	557	'
Income (Loss) before Provision for Income Taxes	6,427	8,943	'
Rental Equipment Acquisitions	8,375	12,198	'
Accounts Receivable, net (period end)	23,731	25,627	'
Rental Equipment, at cost (period end)	263,545	267,411	'
Rental Equipment, net book value (period end)	106,164	107,683	'
Utilization (period end)	56.40%	63.30%	'
Average Utilization	56.80%	63.80%	'
Adler Tanks [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Rental Revenues	17,137	16,431	'
Rental Related Services Revenues	5,473	4,265	'
Sales and Other Revenues	564	119	'
Total Revenues	23,174	20,815	'
Depreciation of Rental Equipment	3,675	3,268	'
Gross Profit (Loss)	12,440	11,143	'
Selling and Administrative Expenses	6,896	5,992	'
Income (Loss) from Operations	5,544	5,151	'
Interest Expense (Income) Allocation	623	609	'
Income (Loss) before Provision for Income Taxes	4,921	4,542	'
Rental Equipment Acquisitions	5,195	6,754	'
Accounts Receivable, net (period end)	21,430	22,049	'
Rental Equipment, at cost (period end)	288,641	261,483	'
Rental Equipment, net book value (period end)	242,728	229,457	'
Utilization (period end)	64.50%	63.50%	'
Average Utilization	61.00%	64.70%	'
Enviroplex [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Rental Revenues	'	'	'
Rental Related Services Revenues	'	'	'
Sales and Other Revenues	1,105	6,193	'
Total Revenues	1,105	6,193	'
Depreciation of Rental Equipment	'	'	'
Gross Profit (Loss)	419	599	'
Selling and Administrative Expenses	738	752	'
Income (Loss) from Operations	-319	-153	'
Interest Expense (Income) Allocation	-46	-56	'
Income (Loss) before Provision for Income Taxes	-273	-97	'
Rental Equipment Acquisitions	'	'	'
Accounts Receivable, net (period end)	1,398	3,091	'
Rental Equipment, at cost (period end)	'	'	'
Rental Equipment, net book value (period end)	'	'	'

Segment_Reporting_Summarized_F1

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Parenthetical) (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting Information [Line Items]	'	'
Revenues	$87,472	$88,713
Mobile Modular [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Revenues	33,640	28,991
Mobile Modular [Member] | Inter-segment Eliminations [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Sales revenue	0	0
Enviroplex [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Revenues	$1,105	$6,193