McGrath RentCorp (MGRC) 10-Q 29 Oct 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Oct. 28, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
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	'	25,959,855

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
REVENUES	'	'	'	'
Rental	$69,642	$65,941	$197,881	$189,585
Rental Related Services	17,871	15,858	46,529	39,364
Rental Operations	87,513	81,799	244,410	228,949
Sales	24,998	26,515	50,206	54,186
Other	514	525	1,714	1,602
Total Revenues	113,025	108,839	296,330	284,737
Direct Costs of Rental Operations:	'	'	'	'
Depreciation of Rental Equipment	18,298	17,233	54,119	50,461
Rental Related Services	13,506	11,278	35,179	29,591
Other	14,955	16,361	43,693	42,202
Total Direct Costs of Rental Operations	46,759	44,872	132,991	122,254
Costs of Sales	16,968	18,778	33,324	38,098
Total Costs of Revenues	63,727	63,650	166,315	160,352
Gross Profit	49,298	45,189	130,015	124,385
Selling and Administrative Expenses	24,200	22,383	71,451	65,813
Income from Operations	25,098	22,806	58,564	58,572
Other Income (Expense):	'	'	'	'
Interest Expense	-2,386	-2,148	-6,924	-6,508
Gain on Sale of Property, Plant and Equipment	'	'	812	'
Foreign Currency Exchange Gain (Loss)	-103	21	-113	-31
Income Before Provision for Income Taxes	22,609	20,679	52,339	52,033
Provision for Income Taxes	8,863	8,106	20,517	20,397
Net Income	$13,746	$12,573	$31,822	$31,636
Earnings Per Share:	'	'	'	'
Basic	$0.53	$0.49	$1.23	$1.25
Diluted	$0.53	$0.48	$1.22	$1.23
Shares Used in Per Share Calculation:	'	'	'	'
Basic	25,953	25,649	25,885	25,338
Diluted	26,152	26,095	26,177	25,787
Cash Dividends Declared Per Share	$0.25	$0.24	$0.74	$0.72

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net Income	$13,746	$12,573	$31,822	$31,636
Other Comprehensive Loss:	'	'	'	'
Foreign Currency Translation Adjustment, net of Tax Effect of $8 and $4, for the three and nine months ended September 30, 2014, respectively	-40	'	-21	'
Comprehensive Income	$13,706	$12,573	$31,801	$31,636

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]	'	'
Foreign Currency Translation Adjustment, Tax Effect	$8	$4

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS	'	'
Cash	$774	$1,630
Accounts Receivable, net of allowance for doubtful accounts of $2,033 in 2014 and $2,007 in 2013	103,570	87,650
Rental Equipment, at cost:	'	'
Relocatable Modular Buildings	649,206	592,391
Electronic Test Equipment	263,712	267,772
Liquid and Solid Containment Tanks and Boxes	302,168	284,005
Rental Equipment, gross	1,215,086	1,144,168
Less Accumulated Depreciation	-397,188	-377,158
Rental Equipment, net	817,898	767,010
Property, Plant and Equipment, net	106,938	105,187
Prepaid Expenses and Other Assets	22,011	19,718
Intangible Assets, net	10,239	10,662
Goodwill	27,700	27,700
Total Assets	1,089,130	1,019,557
Liabilities:	'	'
Notes Payable	322,280	290,003
Accounts Payable and Accrued Liabilities	75,058	63,318
Deferred Income	32,775	24,003
Deferred Income Taxes, net	244,498	241,203
Total Liabilities	674,611	618,527
Shareholders' Equity:	'	'
Common Stock, no par value - Authorized - 40,000 shares Issued and Outstanding - 25,960 shares in 2014 and 25,757 shares in 2013	103,888	103,023
Retained Earnings	310,687	298,038
Accumulated Other Comprehensive Loss	-56	-31
Total Shareholders' Equity	414,519	401,030
Total Liabilities and Shareholders' Equity	$1,089,130	$1,019,557

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, except Per Share data, unless otherwise specified
Statement of Financial Position [Abstract]	'	'
Allowance for doubtful accounts	$2,033	$2,007
Common Stock, par value	$0	$0
Common Stock, Shares Authorized	40,000	40,000
Common Stock, Shares Issued	25,960	25,757
Common Stock, Shares Outstanding	25,960	25,757

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net Income	$31,822	$31,636
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:	'	'
Depreciation and Amortization	60,383	57,097
Provision for Doubtful Accounts	1,480	1,347
Share-Based Compensation	3,010	3,382
Gain on Sale of Used Rental Equipment	-10,777	-9,928
Gain on Sale of Property, Plant and Equipment	-812	'
Foreign Currency Loss	113	31
Change In:	'	'
Accounts Receivable	-17,400	-1,910
Prepaid Expenses and Other Assets	-2,293	-1,103
Accounts Payable and Accrued Liabilities	7,370	8,824
Deferred Income	8,772	219
Deferred Income Taxes	3,295	10,321
Net Cash Provided by Operating Activities	84,963	99,916
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Purchase of Rental Equipment	-112,972	-93,448
Purchase of Property, Plant and Equipment	-9,078	-7,962
Proceeds from Sale of Used Rental Equipment	22,864	25,374
Proceeds from Sale of Property, Plant and Equipment	2,501	'
Net Cash Used in Investing Activities	-96,685	-76,036
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Net Borrowings (Repayments) Under Bank Lines of Credit	12,277	-21,098
Borrowing Under Series B Senior Notes	40,000	'
Principal Payment on Series A Senior Notes	-20,000	'
Proceeds from the Exercise of Stock Options	318	14,197
Excess Tax Benefit from Exercise and Disqualifying Disposition of Stock Options	1,314	1,345
Payment of Dividends	-19,189	-18,258
Taxes Paid Related to Net Share Settlement of Stock Awards	-3,777	-1,027
Net Cash Provided by (Used in) Financing Activities	10,943	-24,841
Effect of Exchange Rate Changes on Cash	-77	'
Net Decrease in Cash	-856	-961
Cash Balance, beginning of period	1,630	1,612
Cash Balance, end of period	774	651
Interest Paid, during the period	6,316	5,607
Net Income Taxes Paid, during the period	15,694	7,930
Dividends Accrued During the Period, not yet paid	6,471	6,370
Rental Equipment Acquisitions, not yet paid	$12,655	$7,367

Condensed_Consolidated_Financi

Condensed Consolidated Financial Information	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Condensed Consolidated Financial Information	'
	NOTE 1. CONDENSED CONSOLIDATED FINANCIAL INFORMATION
	The condensed consolidated financial statements for the three and nine months ended September 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 nine months ended September 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	9 Months Ended
	Sep. 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 users 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.
	In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as Going Concern. This ASU is intended to define management’s responsibilities to evaluate whether there is substantial doubt about an organization’s ability to continue as going concern and provide related footnote disclosures. The amendments in this ASU will be effective for the Company in the fourth quarter of fiscal 2016, with early adoption permitted. 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	9 Months Ended
	Sep. 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				Nine Months Ended
		September 30,				September 30,
	(in thousands)	2014		2013		2014		2013
	Weighted-average number of shares of common stock for calculating basic earnings per share		25,953		25,649		25,885		25,338
	Effect of potentially dilutive securities from equity-based compensation		199		446		292		449
	Weighted-average number of shares of common stock for calculating diluted earnings per share		26,152		26,095		26,177		25,787
	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				Nine Months Ended
		September 30,				September 30,
	(in thousands)	2014		2013		2014		2013
	Options to purchase shares of common stock		9		—		9		41

Related_Party_Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	NOTE 4. RELATED PARTY TRANSACTIONS
	The Company acquired liquid and solid containment tanks totaling $4.4 million and $13.6 million during the three and nine months ended September 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 September 30, 2013 were $0.4 million. There were no related party transactions in the nine months ended September 30, 2014, or amounts owed to related parties at such date.

Intangible_Assets

Intangible Assets	9 Months Ended
	Sep. 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	September 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			(4,763	)		(4,138	)
			$	10,239		$	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 September 30, 2014 and assuming no subsequent impairment of the underlying assets, the amortization expense is expected to be $0.2 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	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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 nine months ended September 30, 2014 and 2013 for the Company’s reportable segments is shown in the following table:
	(dollar amounts in thousands)		Mobile			TRS-			Adler Tanks			Enviroplex 1			Consolidated
			Modular			RenTelco
	Nine Months Ended September 30,
	2014
	Rental Revenues		$	69,644		$	73,665		$	54,572		$	—		$	197,881
	Rental Related Services Revenues			25,493			2,463			18,573			—			46,529
	Sales and Other Revenues			22,057			18,369			893			10,601			51,920
	Total Revenues			117,194			94,497			74,038			10,601			296,330
	Depreciation of Rental Equipment			12,114			30,709			11,296			—			54,119
	Gross Profit			43,296			43,916			39,779			3,024			130,015
	Selling and Administrative Expenses			30,786			17,848			20,338			2,479			71,451
	Income from Operations			12,510			26,068			19,441			545			58,564
	Interest Expense (Income) Allocation			3,524			1,584			1,950			(134	)		6,924
	Gain on Sale of Property, Plant and Equipment			341			276			195			—			812
	Income before Provision for Income Taxes			9,327			24,647			17,686			679			52,339
	Rental Equipment Acquisitions			65,100			32,903			19,088			—			117,091
	Accounts Receivable, net (period end)			55,525			22,228			21,190			4,627			103,570
	Rental Equipment, at cost (period end)			649,206			263,712			302,168			—			1,215,086
	Rental Equipment, net book value (period end)			462,722			106,460			248,716			—			817,898
	Utilization (period end) 2			74.2	%		64.2	%		65.1	%
	Average Utilization 2			71.4	%		59.6	%		62.2	%
	2013
	Rental Revenues		$	60,367		$	75,897		$	53,321		$	—		$	189,585
	Rental Related Services Revenues			21,009			2,285			16,070			—			39,364
	Sales and Other Revenues			16,806			21,547			1,509			15,926			55,788
	Total Revenues			98,182			99,729			70,900			15,926			284,737
	Depreciation of Rental Equipment			10,740			29,538			10,183			—			50,461
	Gross Profit			34,881			46,256			39,442			3,806			124,385
	Selling and Administrative Expenses			26,809			18,123			18,475			2,406			65,813
	Income from Operations			8,072			28,133			20,967			1,400			58,572
	Interest Expense (Income) Allocation			3,238			1,619			1,799			(148	)		6,508
	Income before Provision for Income Taxes			4,834			26,483			19,168			1,548			52,033
	Rental Equipment Acquisitions			36,463			40,444			24,504			—			101,411
	Accounts Receivable, net (period end)			41,818			24,454			23,792			2,755			92,819
	Rental Equipment, at cost (period end)			577,898			270,164			277,972			—			1,126,034
	Rental Equipment, net book value (period end)			404,045			110,657			239,108			—			753,810
	Utilization (period end) 2			70.4	%		62.3	%		64.6	%
	Average Utilization 2			67.6	%		63.3	%		65.7	%
	1	Gross Enviroplex sales revenues were $12,133 and $15,930 for the nine months ended September 30, 2014 and 2013, respectively, which includes inter-segment sales to Mobile Modular of $1,532 and $4, 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 nine months ended September 30, 2014 and 2013. Revenues from foreign country customers accounted for 4% and 6% of the Company’s total revenues, respectively, for the same periods.

New_Accounting_Pronouncements_

New Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 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 users 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.
	In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as Going Concern. This ASU is intended to define management’s responsibilities to evaluate whether there is substantial doubt about an organization’s ability to continue as going concern and provide related footnote disclosures. The amendments in this ASU will be effective for the Company in the fourth quarter of fiscal 2016, with early adoption permitted. 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)	9 Months Ended
	Sep. 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				Nine Months Ended
		September 30,				September 30,
	(in thousands)	2014		2013		2014		2013
	Weighted-average number of shares of common stock for calculating basic earnings per share		25,953		25,649		25,885		25,338
	Effect of potentially dilutive securities from equity-based compensation		199		446		292		449
	Weighted-average number of shares of common stock for calculating diluted earnings per share		26,152		26,095		26,177		25,787
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				Nine Months Ended
		September 30,				September 30,
	(in thousands)	2014		2013		2014		2013
	Options to purchase shares of common stock		9		—		9		41

Intangible_Assets_Tables

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Summary of Intangible Assets	'
	Intangible assets consist of the following:
	(dollar amounts in thousands)	Estimated	September 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			(4,763	)		(4,138	)
			$	10,239		$	10,662

Segment_Reporting_Tables

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Summarized Financial Information for Company's Reportable Segments	'
	Summarized financial information for the nine months ended September 30, 2014 and 2013 for the Company’s reportable segments is shown in the following table:
	(dollar amounts in thousands)		Mobile			TRS-			Adler Tanks			Enviroplex 1			Consolidated
			Modular			RenTelco
	Nine Months Ended September 30,
	2014
	Rental Revenues		$	69,644		$	73,665		$	54,572		$	—		$	197,881
	Rental Related Services Revenues			25,493			2,463			18,573			—			46,529
	Sales and Other Revenues			22,057			18,369			893			10,601			51,920
	Total Revenues			117,194			94,497			74,038			10,601			296,330
	Depreciation of Rental Equipment			12,114			30,709			11,296			—			54,119
	Gross Profit			43,296			43,916			39,779			3,024			130,015
	Selling and Administrative Expenses			30,786			17,848			20,338			2,479			71,451
	Income from Operations			12,510			26,068			19,441			545			58,564
	Interest Expense (Income) Allocation			3,524			1,584			1,950			(134	)		6,924
	Gain on Sale of Property, Plant and Equipment			341			276			195			—			812
	Income before Provision for Income Taxes			9,327			24,647			17,686			679			52,339
	Rental Equipment Acquisitions			65,100			32,903			19,088			—			117,091
	Accounts Receivable, net (period end)			55,525			22,228			21,190			4,627			103,570
	Rental Equipment, at cost (period end)			649,206			263,712			302,168			—			1,215,086
	Rental Equipment, net book value (period end)			462,722			106,460			248,716			—			817,898
	Utilization (period end) 2			74.2	%		64.2	%		65.1	%
	Average Utilization 2			71.4	%		59.6	%		62.2	%
	2013
	Rental Revenues		$	60,367		$	75,897		$	53,321		$	—		$	189,585
	Rental Related Services Revenues			21,009			2,285			16,070			—			39,364
	Sales and Other Revenues			16,806			21,547			1,509			15,926			55,788
	Total Revenues			98,182			99,729			70,900			15,926			284,737
	Depreciation of Rental Equipment			10,740			29,538			10,183			—			50,461
	Gross Profit			34,881			46,256			39,442			3,806			124,385
	Selling and Administrative Expenses			26,809			18,123			18,475			2,406			65,813
	Income from Operations			8,072			28,133			20,967			1,400			58,572
	Interest Expense (Income) Allocation			3,238			1,619			1,799			(148	)		6,508
	Income before Provision for Income Taxes			4,834			26,483			19,168			1,548			52,033
	Rental Equipment Acquisitions			36,463			40,444			24,504			—			101,411
	Accounts Receivable, net (period end)			41,818			24,454			23,792			2,755			92,819
	Rental Equipment, at cost (period end)			577,898			270,164			277,972			—			1,126,034
	Rental Equipment, net book value (period end)			404,045			110,657			239,108			—			753,810
	Utilization (period end) 2			70.4	%		62.3	%		64.6	%
	Average Utilization 2			67.6	%		63.3	%		65.7	%
	1	Gross Enviroplex sales revenues were $12,133 and $15,930 for the nine months ended September 30, 2014 and 2013, respectively, which includes inter-segment sales to Mobile Modular of $1,532 and $4, 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		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share [Abstract]	'	'	'	'
Weighted-average number of shares of common stock for calculating basic earnings per share	25,953	25,649	25,885	25,338
Effect of potentially dilutive securities from equity-based compensation	199	446	292	449
Weighted-average number of shares of common stock for calculating diluted earnings per share	26,152	26,095	26,177	25,787

Earnings_Per_Share_Securities_

Earnings Per Share - Securities Not Included in Computation of Diluted Earnings Per Share (Detail)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share [Abstract]	'	'	'	'
Options to purchase shares of common stock	9	0	9	41

Related_Party_Transactions_Add

Related Party Transactions - Additional Information (Detail) (USD $)	3 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Related Party Transactions [Abstract]	'	'	'
Acquisition of liquid and solid containment tanks	$4.40	'	$13.60
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 $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 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	-4,763	-4,138
Intangible Assets, net	$10,239	$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 $)	9 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'	'
Impairment charge	'	$0
Subsequent impairment of the underlying assets	0	'
Expected amortization expense for 2014	0.2	'
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 $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 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)	9 Months Ended
	Sep. 30, 2014	Sep. 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	4.00%	6.00%

Segment_Reporting_Summarized_F

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Segment Reporting Information [Line Items]	'	'	'	'	'
Rental Revenues	$69,642	$65,941	$197,881	$189,585	'
Rental Related Services Revenues	17,871	15,858	46,529	39,364	'
Sales and Other Revenues	'	'	51,920	55,788	'
Total Revenues	113,025	108,839	296,330	284,737	'
Depreciation of Rental Equipment	18,298	17,233	54,119	50,461	'
Gross Profit	49,298	45,189	130,015	124,385	'
Selling and Administrative Expenses	24,200	22,383	71,451	65,813	'
Income from Operations	25,098	22,806	58,564	58,572	'
Interest Expense (Income) Allocation	2,386	2,148	6,924	6,508	'
Gain on Sale of Property, Plant and Equipment	'	'	812	'	'
Income before Provision for Income Taxes	22,609	20,679	52,339	52,033	'
Rental Equipment Acquisitions	'	'	117,091	101,411	'
Accounts Receivable, net (period end)	103,570	92,819	103,570	92,819	87,650
Rental Equipment, at cost (period end)	1,215,086	1,126,034	1,215,086	1,126,034	1,144,168
Rental Equipment, net book value (period end)	817,898	753,810	817,898	753,810	767,010
Enviroplex [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Rental Revenues	'	'	'	0	'
Rental Related Services Revenues	'	'	'	0	'
Sales and Other Revenues	'	'	10,601	15,926	'
Total Revenues	'	'	10,601	15,926	'
Depreciation of Rental Equipment	'	'	'	0	'
Gross Profit	'	'	3,024	3,806	'
Selling and Administrative Expenses	'	'	2,479	2,406	'
Income from Operations	'	'	545	1,400	'
Interest Expense (Income) Allocation	'	'	-134	-148	'
Income before Provision for Income Taxes	'	'	679	1,548	'
Rental Equipment Acquisitions	'	'	'	0	'
Accounts Receivable, net (period end)	4,627	2,755	4,627	2,755	'
Rental Equipment, at cost (period end)	'	0	'	0	'
Rental Equipment, net book value (period end)	'	0	'	0	'
Mobile Modular [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Rental Revenues	'	'	69,644	60,367	'
Rental Related Services Revenues	'	'	25,493	21,009	'
Sales and Other Revenues	'	'	22,057	16,806	'
Total Revenues	'	'	117,194	98,182	'
Depreciation of Rental Equipment	'	'	12,114	10,740	'
Gross Profit	'	'	43,296	34,881	'
Selling and Administrative Expenses	'	'	30,786	26,809	'
Income from Operations	'	'	12,510	8,072	'
Interest Expense (Income) Allocation	'	'	3,524	3,238	'
Gain on Sale of Property, Plant and Equipment	'	'	341	'	'
Income before Provision for Income Taxes	'	'	9,327	4,834	'
Rental Equipment Acquisitions	'	'	65,100	36,463	'
Accounts Receivable, net (period end)	55,525	41,818	55,525	41,818	'
Rental Equipment, at cost (period end)	649,206	577,898	649,206	577,898	'
Rental Equipment, net book value (period end)	462,722	404,045	462,722	404,045	'
Utilization (period end)	'	'	74.20%	70.40%	'
Average Utilization	'	'	71.40%	67.60%	'
TRS-RenTelco [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Rental Revenues	'	'	73,665	75,897	'
Rental Related Services Revenues	'	'	2,463	2,285	'
Sales and Other Revenues	'	'	18,369	21,547	'
Total Revenues	'	'	94,497	99,729	'
Depreciation of Rental Equipment	'	'	30,709	29,538	'
Gross Profit	'	'	43,916	46,256	'
Selling and Administrative Expenses	'	'	17,848	18,123	'
Income from Operations	'	'	26,068	28,133	'
Interest Expense (Income) Allocation	'	'	1,584	1,619	'
Gain on Sale of Property, Plant and Equipment	'	'	276	'	'
Income before Provision for Income Taxes	'	'	24,647	26,483	'
Rental Equipment Acquisitions	'	'	32,903	40,444	'
Accounts Receivable, net (period end)	22,228	24,454	22,228	24,454	'
Rental Equipment, at cost (period end)	263,712	270,164	263,712	270,164	'
Rental Equipment, net book value (period end)	106,460	110,657	106,460	110,657	'
Utilization (period end)	'	'	64.20%	62.30%	'
Average Utilization	'	'	59.60%	63.30%	'
Adler Tanks [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Rental Revenues	'	'	54,572	53,321	'
Rental Related Services Revenues	'	'	18,573	16,070	'
Sales and Other Revenues	'	'	893	1,509	'
Total Revenues	'	'	74,038	70,900	'
Depreciation of Rental Equipment	'	'	11,296	10,183	'
Gross Profit	'	'	39,779	39,442	'
Selling and Administrative Expenses	'	'	20,338	18,475	'
Income from Operations	'	'	19,441	20,967	'
Interest Expense (Income) Allocation	'	'	1,950	1,799	'
Gain on Sale of Property, Plant and Equipment	'	'	195	'	'
Income before Provision for Income Taxes	'	'	17,686	19,168	'
Rental Equipment Acquisitions	'	'	19,088	24,504	'
Accounts Receivable, net (period end)	21,190	23,792	21,190	23,792	'
Rental Equipment, at cost (period end)	302,168	277,972	302,168	277,972	'
Rental Equipment, net book value (period end)	$248,716	$239,108	$248,716	$239,108	'
Utilization (period end)	'	'	65.10%	64.60%	'
Average Utilization	'	'	62.20%	65.70%	'

Segment_Reporting_Summarized_F1

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Parenthetical) (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Revenues	$113,025	$108,839	$296,330	$284,737
Enviroplex [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenues	'	'	10,601	15,926
Mobile Modular [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenues	'	'	117,194	98,182
Operating Segments [Member] | Enviroplex [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenues	'	'	12,133	15,930
Inter-segment Eliminations [Member] | Mobile Modular [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Sales revenues	'	'	$1,532	$4