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 |