McGrath RentCorp (MGRC) 10-Q 31 Jul 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 30, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
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	'	25,946,888

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
REVENUES	'	'	'	'
Rental	$65,809	$63,043	$128,239	$123,644
Rental Related Services	15,146	12,661	28,658	23,506
Rental Operations	80,955	75,704	156,897	147,150
Sales	14,170	10,906	25,208	27,671
Other	620	546	1,200	1,077
Total Revenues	95,745	87,156	183,305	175,898
Direct Costs of Rental Operations:	'	'	'	'
Depreciation of Rental Equipment	17,924	16,626	35,821	33,228
Rental Related Services	11,366	9,391	21,673	18,313
Other	15,188	13,484	28,738	25,841
Total Direct Costs of Rental Operations	44,478	39,501	86,232	77,382
Costs of Sales	9,188	7,486	16,356	19,320
Total Costs of Revenues	53,666	46,987	102,588	96,702
Gross Profit	42,079	40,169	80,717	79,196
Selling and Administrative Expenses	23,840	21,792	47,251	43,430
Income from Operations	18,239	18,377	33,466	35,766
Other Income (Expense):	'	'	'	'
Interest Expense	-2,335	-2,157	-4,538	-4,360
Gain on Sale of Property, Plant and Equipment	812	'	812	'
Foreign Currency Exchange Gain (Loss)	78	-23	-10	-52
Income Before Provision for Income Taxes	16,794	16,197	29,730	31,354
Provision for Income Taxes	6,589	6,349	11,654	12,291
Net Income	$10,205	$9,848	$18,076	$19,063
Earnings Per Share:	'	'	'	'
Basic	$0.39	$0.39	$0.70	$0.76
Diluted	$0.39	$0.38	$0.69	$0.74
Shares Used in Per Share Calculation:	'	'	'	'
Basic	25,912	25,354	25,851	25,180
Diluted	26,220	25,818	26,223	25,617
Cash Dividends Declared Per Share	$0.25	$0.24	$0.49	$0.48

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement Of Income And Comprehensive Income [Abstract]	'	'	'	'
Net Income	$10,205	$9,848	$18,076	$19,063
Other Comprehensive Loss:	'	'	'	'
Foreign Currency Translation Adjustment, net of Tax Effect of ($2) and $4, for the three and six months ended June 30, 2014, respectively	-9	'	19	'
Comprehensive Income	$10,196	$9,848	$18,095	$19,063

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (USD $)	3 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014
Statement Of Income And Comprehensive Income [Abstract]	'	'
Foreign Currency Translation Adjustment, Tax Effect	($2)	$4

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS	'	'
Cash	$1,141	$1,630
Accounts Receivable, net of allowance for doubtful accounts of $2,027 in 2014 and $2,007 in 2013	89,084	87,650
Rental Equipment, at cost:	'	'
Relocatable Modular Buildings	626,457	592,391
Electronic Test Equipment	259,907	267,772
Liquid and Solid Containment Tanks and Boxes	298,248	284,005
Rental Equipment, gross	1,184,612	1,144,168
Less Accumulated Depreciation	-389,080	-377,158
Rental Equipment, net	795,532	767,010
Property, Plant and Equipment, net	105,853	105,187
Prepaid Expenses and Other Assets	22,005	19,718
Intangible Assets, net	10,449	10,662
Goodwill	27,700	27,700
Total Assets	1,051,764	1,019,557
Liabilities:	'	'
Notes Payable	307,000	290,003
Accounts Payable and Accrued Liabilities	69,258	63,318
Deferred Income	26,083	24,003
Deferred Income Taxes, net	242,984	241,203
Total Liabilities	645,325	618,527
Shareholders' Equity:	'	'
Common Stock, no par value - Authorized - 40,000 shares Issued and Outstanding - 25,947 shares in 2014 and 25,757 shares in 2013	103,104	103,023
Retained Earnings	303,343	298,038
Accumulated Other Comprehensive Loss	-8	-31
Total Shareholders' Equity	406,439	401,030
Total Liabilities and Shareholders' Equity	$1,051,764	$1,019,557

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Statement Of Financial Position [Abstract]	'	'
Allowance for doubtful accounts	$2,027	$2,007
Common Stock, par value	'	'
Common Stock, Shares Authorized	40,000	40,000
Common Stock, Shares Issued	25,947	25,757
Common Stock, Shares Outstanding	25,947	25,757

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net Income	$18,076	$19,063
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:	'	'
Depreciation and Amortization	39,982	37,645
Provision for Doubtful Accounts	1,014	911
Share-Based Compensation	1,984	2,255
Gain on Sale of Used Rental Equipment	-6,444	-6,256
Gain on Sale of Property, Plant and Equipment	-812	'
Foreign Currency Loss	10	52
Change In:	'	'
Accounts Receivable	-2,448	4,059
Prepaid Expenses and Other Assets	-2,287	-168
Accounts Payable and Accrued Liabilities	2,236	6,096
Deferred Income	2,080	-988
Deferred Income Taxes	1,781	3,570
Net Cash Provided by Operating Activities	55,172	66,239
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Purchase of Rental Equipment	-68,105	-56,241
Purchase of Property, Plant and Equipment	-6,101	-4,156
Proceeds from Sale of Used Rental Equipment	13,757	14,373
Proceeds from Sale of Property, Plant and Equipment	2,501	'
Net Cash Used in Investing Activities	-57,948	-46,024
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Net Repayments Under Bank Lines of Credit	-3,003	-23,125
Borrowing Under Series B Senior Notes	40,000	'
Principal Payment on Series A Senior Notes	-20,000	'
Proceeds from the Exercise of Stock Options	302	13,494
Excess Tax Benefit from Exercise and Disqualifying Disposition of Stock Options	1,173	1,398
Payment of Dividends	-12,833	-12,109
Taxes Paid Related to Net Share Settlement of Stock Awards	-3,378	-778
Net Cash Provided by (Used in) Financing Activities	2,261	-21,120
Effect of Exchange Rate Changes on Cash	26	'
Net Decrease in Cash	-489	-905
Cash Balance, beginning of period	1,630	1,612
Cash Balance, end of period	1,141	707
Interest Paid, during the period	4,198	4,331
Net Income Taxes Paid, during the period	8,526	6,779
Dividends Accrued During the Period, not yet paid	6,425	6,327
Rental Equipment Acquisitions, not yet paid	$12,033	$3,887

Condensed_Consolidated_Financi

Condensed Consolidated Financial Information	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Condensed Consolidated Financial Information	'
	NOTE 1.	CONDENSED CONSOLIDATED FINANCIAL INFORMATION
	The condensed consolidated financial statements for the three and six months ended June 30, 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 six months ended June 30, 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 Condensed Consolidated Statement of Income were reclassified from Other Revenues to Foreign Currency Exchange Gain (Loss) and on the Condensed Consolidated Statements of Cash Flows certain amounts were reclassified from Proceeds from the Exercise of Stock Options to Taxes Paid Related to Net Share Settlement of Stock Awards. These reclassifications had no impact on net income, earnings per share or operating cash flows.

New_Accounting_Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2014
Accounting Changes And Error Corrections [Abstract]	'
New Accounting Pronouncements	'
	NOTE 2.	NEW ACCOUNTING PRONOUNCEMENTS
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers. The objective of this guidance is to establish the principles to report useful information to uses of financial statements about the nature, timing and uncertainty of revenue from contracts with customers. The guidance in the update is effective for the interim and annual reporting periods beginning after December 15, 2016. The Company is currently evaluating the impact of the adoption of this accounting guidance on its condensed consolidated financial statements.
	In June 2014, the FASB issued ASU No. 2014-12, Accounting for Share-Based Payments When the Term of Award Provides That a Performance Target Could Be Achieved after the Requisite Service Period. This update requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The guidance in the update is effective for the interim and annual reporting periods beginning after December 15, 2015. The Company does not expect the adoption of this accounting guidance to have a significant impact on its condensed consolidated financial statements.

Earnings_Per_Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	NOTE 3.	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				Six Months Ended
			June 30,				June 30,
	(in thousands)		2014		2013		2014		2013
	Weighted-average number of shares of common stock for calculating basic earnings per share			25,912		25,354		25,851		25,180
	Effect of potentially dilutive securities from equity-based compensation			308		464		372		437
	Weighted-average number of shares of common stock for calculating diluted earnings per share			26,220		25,818		26,223		25,617
	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				Six Months Ended
			June 30,				June 30,
	(in thousands)		2014		2013		2014		2013
	Options to purchase shares of common stock			15		43		9		465

Related_Party_Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	NOTE 4.	RELATED PARTY TRANSACTIONS
	The Company acquired liquid and solid containment tanks totaling $5.5 million and $9.5 million during the three and six months ended June 30, 2013, respectively, from Sabre Manufacturing, LLC (“Sabre”), which was controlled by the President of Adler Tanks until August 16, 2013 when it was sold to an unrelated party. Amounts due to Sabre at June 30, 2013 were $0.4 million. There were no related party transactions in the six months ended June 30, 2014, or amounts owed to related parties at such date.

Intangible_Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2014
Goodwill And Intangible Assets Disclosure [Abstract]	'
Intangible Assets	'
	NOTE 5.	INTANGIBLE ASSETS
	Intangible assets consist of the following:
	(dollar amounts in thousands)		Estimated	June 30,			December 31,
			Useful Life	2014			2013
			In Years
	Trade Name		Indefinite	$	5,700		$	5,700
	Customer Relationships		11		9,302			9,100
					15,002			14,800
	Less Accumulated Amortization				(4,553	)		(4,138	)
				$	10,449		$	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 identifiable indefinite-lived 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 requires judgment 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 June 30, 2014 and assuming no subsequent impairment of the underlying assets, the amortization expense is expected to be $0.4 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	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Note Purchase and Private Shelf Agreement	'
	NOTE 6.	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	6 Months Ended
	Jun. 30, 2014
Segment Reporting [Abstract]	'
Segment Reporting	'
	NOTE 7.	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 six months ended June 30, 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
	Six Months Ended June 30,
	2014
	Rental Revenues		$	44,212		$	48,184		$	35,843		$	—		$	128,239
	Rental Related Services Revenues			15,328			1,617			11,713			—			28,658
	Sales and Other Revenues			11,415			11,977			769			2,247			26,408
	Total Revenues			70,955			61,778			48,325			2,247			183,305
	Depreciation of Rental Equipment			7,842			20,539			7,440			—			35,821
	Gross Profit			25,774			28,138			26,060			745			80,717
	Selling and Administrative Expenses			19,830			12,004			13,836			1,581			47,251
	Income (Loss) from Operations			5,944			16,134			12,224			(836	)		33,466
	Interest Expense (Income) Allocation			2,290			1,053			1,284			(89	)		4,538
	Gain on Sale of Property, Plant and Equipment			341			276			195			—			812
	Income (Loss) before Provision for Income Taxes			3,995			15,347			11,135			(747	)		29,730
	Rental Equipment Acquisitions			38,177			18,387			15,092			—			71,656
	Accounts Receivable, net (period end)			42,947			22,500			21,057			2,580			89,084
	Rental Equipment, at cost (period end)			626,457			259,907			298,248			—			1,184,612
	Rental Equipment, net book value (period end)			443,086			103,816			248,630			—			795,532
	Utilization (period end) 2			71.6	%		62.2	%		61.5	%
	Average Utilization 2			70.2	%		58.3	%		61.8	%
	2013
	Rental Revenues		$	39,288		$	50,179		$	34,177		$	—		$	123,644
	Rental Related Services Revenues			12,491			1,412			9,603			—			23,506
	Sales and Other Revenues			6,715			14,252			1,354			6,427			28,748
	Total Revenues			58,494			65,843			45,134			6,427			175,898
	Depreciation of Rental Equipment			7,089			19,474			6,665			—			33,228
	Gross Profit			22,894			31,010			24,557			735			79,196
	Selling and Administrative Expenses			17,371			12,400			12,097			1,562			43,430
	Income (Loss) from Operations			5,523			18,610			12,460			(827	)		35,766
	Interest Expense (Income) Allocation			2,158			1,089			1,213			(100	)		4,360
	Income (Loss) before Provision for Income Taxes			3,365			17,469			11,247			(727	)		31,354
	Rental Equipment Acquisitions			21,521			22,655			15,853			—			60,029
	Accounts Receivable, net (period end)			37,573			22,750			24,139			2,824			87,286
	Rental Equipment, at cost (period end)			570,352			264,429			269,437			—			1,104,218
	Rental Equipment, net book value (period end)			397,702			105,869			234,065			—			737,636
	Utilization (period end) 2			67.6	%		63.3	%		68.7	%
	Average Utilization 2			66.7	%		63.7	%		65.5	%
	1	Gross Enviroplex sales revenues were $3,323 and $6,430 for the six months ended June 30, 2014 and 2013, respectively, which includes inter-segment sales to Mobile Modular of $1,076 and $3, respectively, which have been eliminated 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 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 six months ended June 30, 2014 and 2013. Revenues from foreign country customers accounted for 6% and 8% of the Company’s total revenues, respectively, for the same periods.

New_Accounting_Pronouncements_

New Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2014
Accounting Changes And Error Corrections [Abstract]	'
New Accounting Pronouncements	'
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers. The objective of this guidance is to establish the principles to report useful information to uses of financial statements about the nature, timing and uncertainty of revenue from contracts with customers. The guidance in the update is effective for the interim and annual reporting periods beginning after December 15, 2016. The Company is currently evaluating the impact of the adoption of this accounting guidance on its condensed consolidated financial statements.
	In June 2014, the FASB issued ASU No. 2014-12, Accounting for Share-Based Payments When the Term of Award Provides That a Performance Target Could Be Achieved after the Requisite Service Period. This update requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The guidance in the update is effective for the interim and annual reporting periods beginning after December 15, 2015. The Company does not expect the adoption of this accounting guidance to have a significant impact on its condensed consolidated financial statements.
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)	6 Months Ended
	Jun. 30, 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				Six Months Ended
		June 30,				June 30,
	(in thousands)	2014		2013		2014		2013
	Weighted-average number of shares of common stock for calculating basic earnings per share		25,912		25,354		25,851		25,180
	Effect of potentially dilutive securities from equity-based compensation		308		464		372		437
	Weighted-average number of shares of common stock for calculating diluted earnings per share		26,220		25,818		26,223		25,617
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				Six Months Ended
		June 30,				June 30,
	(in thousands)	2014		2013		2014		2013
	Options to purchase shares of common stock		15		43		9		465

Intangible_Assets_Tables

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2014
Goodwill And Intangible Assets Disclosure [Abstract]	'
Summary of Intangible Assets	'
	Intangible assets consist of the following:
	(dollar amounts in thousands)	Estimated	June 30,			December 31,
		Useful Life	2014			2013
		In Years
	Trade Name	Indefinite	$	5,700		$	5,700
	Customer Relationships	11		9,302			9,100
				15,002			14,800
	Less Accumulated Amortization			(4,553	)		(4,138	)
			$	10,449		$	10,662

Segment_Reporting_Tables

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2014
Segment Reporting [Abstract]	'
Summarized Financial Information for Company's Reportable Segments	'
	Summarized financial information for the six months ended June 30, 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
	Six Months Ended June 30,
	2014
	Rental Revenues		$	44,212		$	48,184		$	35,843		$	—		$	128,239
	Rental Related Services Revenues			15,328			1,617			11,713			—			28,658
	Sales and Other Revenues			11,415			11,977			769			2,247			26,408
	Total Revenues			70,955			61,778			48,325			2,247			183,305
	Depreciation of Rental Equipment			7,842			20,539			7,440			—			35,821
	Gross Profit			25,774			28,138			26,060			745			80,717
	Selling and Administrative Expenses			19,830			12,004			13,836			1,581			47,251
	Income (Loss) from Operations			5,944			16,134			12,224			(836	)		33,466
	Interest Expense (Income) Allocation			2,290			1,053			1,284			(89	)		4,538
	Gain on Sale of Property, Plant and Equipment			341			276			195			—			812
	Income (Loss) before Provision for Income Taxes			3,995			15,347			11,135			(747	)		29,730
	Rental Equipment Acquisitions			38,177			18,387			15,092			—			71,656
	Accounts Receivable, net (period end)			42,947			22,500			21,057			2,580			89,084
	Rental Equipment, at cost (period end)			626,457			259,907			298,248			—			1,184,612
	Rental Equipment, net book value (period end)			443,086			103,816			248,630			—			795,532
	Utilization (period end) 2			71.6	%		62.2	%		61.5	%
	Average Utilization 2			70.2	%		58.3	%		61.8	%
	2013
	Rental Revenues		$	39,288		$	50,179		$	34,177		$	—		$	123,644
	Rental Related Services Revenues			12,491			1,412			9,603			—			23,506
	Sales and Other Revenues			6,715			14,252			1,354			6,427			28,748
	Total Revenues			58,494			65,843			45,134			6,427			175,898
	Depreciation of Rental Equipment			7,089			19,474			6,665			—			33,228
	Gross Profit			22,894			31,010			24,557			735			79,196
	Selling and Administrative Expenses			17,371			12,400			12,097			1,562			43,430
	Income (Loss) from Operations			5,523			18,610			12,460			(827	)		35,766
	Interest Expense (Income) Allocation			2,158			1,089			1,213			(100	)		4,360
	Income (Loss) before Provision for Income Taxes			3,365			17,469			11,247			(727	)		31,354
	Rental Equipment Acquisitions			21,521			22,655			15,853			—			60,029
	Accounts Receivable, net (period end)			37,573			22,750			24,139			2,824			87,286
	Rental Equipment, at cost (period end)			570,352			264,429			269,437			—			1,104,218
	Rental Equipment, net book value (period end)			397,702			105,869			234,065			—			737,636
	Utilization (period end) 2			67.6	%		63.3	%		68.7	%
	Average Utilization 2			66.7	%		63.7	%		65.5	%
	1	Gross Enviroplex sales revenues were $3,323 and $6,430 for the six months ended June 30, 2014 and 2013, respectively, which includes inter-segment sales to Mobile Modular of $1,076 and $3, respectively, which have been eliminated 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 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		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Earnings Per Share [Abstract]	'	'	'	'
Weighted-average number of shares of common stock for calculating basic earnings per share	25,912	25,354	25,851	25,180
Effect of potentially dilutive securities from equity-based compensation	308	464	372	437
Weighted-average number of shares of common stock for calculating diluted earnings per share	26,220	25,818	26,223	25,617

Earnings_Per_Share_Securities_

Earnings Per Share - Securities Not Included in Computation of Diluted Earnings Per Share (Detail)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Earnings Per Share [Abstract]	'	'	'	'
Options to purchase shares of common stock	15	43	9	465

Related_Party_Transactions_Add

Related Party Transactions - Additional Information (Detail) (USD $)	3 Months Ended	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Related Party Transactions [Abstract]	'	'	'
Acquisition of liquid and solid containment tanks	$5.50	'	$9.50
Amounts due to Sabre Manufacturing, LLC	0.4	'	0.4
Related party transactions	'	$0	'

Intangible_Assets_Summary_of_I

Intangible Assets - Summary of Intangible Assets (Detail) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Goodwill And Intangible Assets Disclosure [Abstract]	'	'
Trade Name	$5,700	$5,700
Customer Relationships	9,302	9,100
Intangible Assets, Gross	15,002	14,800
Less Accumulated Amortization	-4,553	-4,138
Intangible Assets, net	$10,449	$10,662
Estimated Useful Life in Years, Trade Name	'Indefinite	'
Estimated Useful Life in Years, Customer Relationships	'11 years	'

Intangible_Assets_Additional_I

Intangible Assets - Additional Information (Detail) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014
Goodwill And Intangible Assets Disclosure [Abstract]	'
Subsequent impairment of the underlying assets	$0
Expected amortization expense for 2014	0.4
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 $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 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)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 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%	8.00%

Segment_Reporting_Summarized_F

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Segment Reporting Information [Line Items]	'	'	'	'	'
Rental Revenues	$65,809	$63,043	$128,239	$123,644	'
Rental Related Services Revenues	15,146	12,661	28,658	23,506	'
Sales and Other Revenues	'	'	26,408	28,748	'
Total Revenues	95,745	87,156	183,305	175,898	'
Depreciation of Rental Equipment	17,924	16,626	35,821	33,228	'
Gross Profit	42,079	40,169	80,717	79,196	'
Selling and Administrative Expenses	23,840	21,792	47,251	43,430	'
Income (Loss) from Operations	18,239	18,377	33,466	35,766	'
Interest Expense (Income) Allocation	'	'	4,538	4,360	'
Gain on Sale of Property, Plant and Equipment	812	'	812	'	'
Income (Loss) before Provision for Income Taxes	16,794	16,197	29,730	31,354	'
Rental Equipment Acquisitions	'	'	71,656	60,029	'
Accounts Receivable, net (period end)	89,084	87,286	89,084	87,286	87,650
Rental Equipment, at cost (period end)	1,184,612	1,104,218	1,184,612	1,104,218	1,144,168
Rental Equipment, net book value (period end)	795,532	737,636	795,532	737,636	767,010
Mobile Modular [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Rental Revenues	'	'	44,212	39,288	'
Rental Related Services Revenues	'	'	15,328	12,491	'
Sales and Other Revenues	'	'	11,415	6,715	'
Total Revenues	'	'	70,955	58,494	'
Depreciation of Rental Equipment	'	'	7,842	7,089	'
Gross Profit	'	'	25,774	22,894	'
Selling and Administrative Expenses	'	'	19,830	17,371	'
Income (Loss) from Operations	'	'	5,944	5,523	'
Interest Expense (Income) Allocation	'	'	2,290	2,158	'
Gain on Sale of Property, Plant and Equipment	'	'	341	'	'
Income (Loss) before Provision for Income Taxes	'	'	3,995	3,365	'
Rental Equipment Acquisitions	'	'	38,177	21,521	'
Accounts Receivable, net (period end)	42,947	37,573	42,947	37,573	'
Rental Equipment, at cost (period end)	626,457	570,352	626,457	570,352	'
Rental Equipment, net book value (period end)	443,086	397,702	443,086	397,702	'
Utilization (period end)	'	'	71.60%	67.60%	'
Average Utilization	'	'	70.20%	66.70%	'
TRS-RenTelco [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Rental Revenues	'	'	48,184	50,179	'
Rental Related Services Revenues	'	'	1,617	1,412	'
Sales and Other Revenues	'	'	11,977	14,252	'
Total Revenues	'	'	61,778	65,843	'
Depreciation of Rental Equipment	'	'	20,539	19,474	'
Gross Profit	'	'	28,138	31,010	'
Selling and Administrative Expenses	'	'	12,004	12,400	'
Income (Loss) from Operations	'	'	16,134	18,610	'
Interest Expense (Income) Allocation	'	'	1,053	1,089	'
Gain on Sale of Property, Plant and Equipment	'	'	276	'	'
Income (Loss) before Provision for Income Taxes	'	'	15,347	17,469	'
Rental Equipment Acquisitions	'	'	18,387	22,655	'
Accounts Receivable, net (period end)	22,500	22,750	22,500	22,750	'
Rental Equipment, at cost (period end)	259,907	264,429	259,907	264,429	'
Rental Equipment, net book value (period end)	103,816	105,869	103,816	105,869	'
Utilization (period end)	'	'	62.20%	63.30%	'
Average Utilization	'	'	58.30%	63.70%	'
Adler Tanks [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Rental Revenues	'	'	35,843	34,177	'
Rental Related Services Revenues	'	'	11,713	9,603	'
Sales and Other Revenues	'	'	769	1,354	'
Total Revenues	'	'	48,325	45,134	'
Depreciation of Rental Equipment	'	'	7,440	6,665	'
Gross Profit	'	'	26,060	24,557	'
Selling and Administrative Expenses	'	'	13,836	12,097	'
Income (Loss) from Operations	'	'	12,224	12,460	'
Interest Expense (Income) Allocation	'	'	1,284	1,213	'
Gain on Sale of Property, Plant and Equipment	'	'	195	'	'
Income (Loss) before Provision for Income Taxes	'	'	11,135	11,247	'
Rental Equipment Acquisitions	'	'	15,092	15,853	'
Accounts Receivable, net (period end)	21,057	24,139	21,057	24,139	'
Rental Equipment, at cost (period end)	298,248	269,437	298,248	269,437	'
Rental Equipment, net book value (period end)	248,630	234,065	248,630	234,065	'
Utilization (period end)	'	'	61.50%	68.70%	'
Average Utilization	'	'	61.80%	65.50%	'
Enviroplex [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Rental Revenues	'	'	'	'	'
Rental Related Services Revenues	'	'	'	'	'
Sales and Other Revenues	'	'	2,247	6,427	'
Total Revenues	'	'	2,247	6,427	'
Depreciation of Rental Equipment	'	'	'	'	'
Gross Profit	'	'	745	735	'
Selling and Administrative Expenses	'	'	1,581	1,562	'
Income (Loss) from Operations	'	'	-836	-827	'
Interest Expense (Income) Allocation	'	'	-89	-100	'
Income (Loss) before Provision for Income Taxes	'	'	-747	-727	'
Rental Equipment Acquisitions	'	'	'	'	'
Accounts Receivable, net (period end)	2,580	2,824	2,580	2,824	'
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		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Revenues	$95,745	$87,156	$183,305	$175,898
Mobile Modular [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenues	'	'	70,955	58,494
Mobile Modular [Member] | Inter-segment Eliminations [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Sales revenues	'	'	1,076	3
Enviroplex [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenues	'	'	$2,247	$6,427