McGrath RentCorp (MGRC) 10-Q 30 Apr 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	Apr. 29, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	MGRC
Entity Registrant Name	MCGRATH RENTCORP
Entity Central Index Key	752714
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		26,149,052

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenues
Rental	$65,502	$62,430
Rental related services	15,367	13,512
Rental operations	80,869	75,942
Sales	8,787	11,038
Other	532	580
Total revenues	90,188	87,560
Direct costs of rental operations:
Depreciation of rental equipment	18,682	17,897
Rental related services	11,899	10,307
Other	15,211	13,550
Total direct costs of rental operations	45,792	41,754
Costs of sales	5,309	7,168
Total costs of revenues	51,101	48,922
Gross profit	39,087	38,638
Selling and administrative expenses	25,212	23,411
Income from operations	13,875	15,227
Other income (expense):
Interest expense	-2,391	-2,203
Foreign currency exchange loss	-168	-88
Income before provision for income taxes	11,316	12,936
Provision for income taxes	4,470	5,065
Net income	$6,846	$7,871
Earnings per share:
Basic	$0.26	$0.31
Diluted	$0.26	$0.30
Shares used in per share calculation:
Basic	26,091	25,789
Diluted	26,276	26,230
Cash dividends declared per share	$0.25	$0.25

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income	$6,846	$7,871
Other comprehensive income:
Foreign currency translation adjustment, net of tax provision of $16 in 2015 and $6 in 2014	72	28
Comprehensive income	$6,918	$7,899

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax benefits	$16	$6

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Assets
Cash	$777	$1,167
Accounts receivable, net of allowance for doubtful accounts of $2,042 in 2015 and $2,038 in 2014	89,361	101,294
Rental equipment, at cost:
Relocatable modular buildings	678,990	664,340
Electronic test equipment	269,575	261,995
Liquid and solid containment tanks and boxes	305,751	303,303
Rental equipment, gross	1,254,316	1,229,638
Less accumulated depreciation	-415,238	-403,888
Rental equipment, net	839,078	825,750
Property, plant and equipment, net	109,627	108,628
Prepaid expenses and other assets	35,287	41,424
Intangible assets, net	10,118	10,336
Goodwill	27,808	27,808
Total assets	1,112,056	1,116,407
Liabilities:
Notes payable	320,923	322,478
Accounts payable and accrued liabilities	70,242	71,357
Deferred income	29,359	29,139
Deferred income taxes, net	265,684	268,902
Total liabilities	686,208	691,876
Shareholders' equity:
Common stock, no par value - Authorized - 40,000 shares Issued and Outstanding - 26,130 shares as of March 31, 2015 and 26,051 shares as of December 31, 2014	107,745	106,469
Retained earnings	318,133	318,164
Accumulated other comprehensive loss	-30	-102
Total shareholders' equity	425,848	424,531
Total liabilities and shareholders' equity	$1,112,056	$1,116,407

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$2,042	$2,038
Common stock, par value	$0	$0
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	26,130,000	26,051,000
Common Stock, shares outstanding	26,130,000	26,051,000

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash Flows from Operating Activities:
Net income	$6,846	$7,871
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	20,906	19,932
Provision for doubtful accounts	333	456
Non-cash share-based compensation	931	955
Gain on sale of used rental equipment	-2,869	-2,500
Foreign currency exchange loss	168	88
Change in:
Accounts receivable	11,600	4,123
Prepaid expenses and other assets	6,137	2,587
Accounts payable and accrued liabilities	-6,421	2,740
Deferred income	220	-2,315
Deferred income taxes	-3,218	4,115
Net cash provided by operating activities	34,633	38,052
Cash Flows from Investing Activities:
Purchase of rental equipment	-29,974	-31,759
Purchase of property, plant and equipment	-3,005	-2,812
Proceeds from sale of used rental equipment	6,111	6,430
Net cash used in investing activities	-26,868	-28,141
Cash Flows from Financing Activities:
Net repayments under bank lines of credit	-1,555	-41,922
Borrowing under Series B senior notes		40,000
Proceeds from the exercise of stock options	958	76
Excess tax benefit from exercise and disqualifying disposition of stock options	19	508
Taxes paid related to net share settlement of stock awards	-582	-2,512
Repurchase of common stock	-377
Payment of dividends	-6,639	-6,489
Net cash used in financing activities	-8,176	-10,339
Effect of foreign currency exchange rate changes on cash	21	9
Net decrease in cash	-390	-419
Cash balance, beginning of period	1,167	1,630
Cash balance, end of period	777	1,211
Interest paid, during the period	2,008	1,157
Net income taxes paid, during the period	316	339
Dividends accrued during the period, not yet paid	6,552	6,387
Rental equipment acquisitions, not yet paid	$10,220	$7,464

Condensed_Consolidated_Financi

Condensed Consolidated Financial Information	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Condensed Consolidated Financial Information	NOTE 1. CONDENSED CONSOLIDATED FINANCIAL INFORMATION
	The condensed consolidated financial statements for the three months ended March 31, 2015 and 2014 have not been audited, but in the opinion of management, all adjustments (consisting of normal recurring accruals, consolidating and eliminating entries) necessary for the fair presentation of the consolidated financial position, results of operations and cash flows of McGrath RentCorp (the “Company”) have been made. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and note disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to those rules and regulations. The consolidated results for the three months ended March 31, 2015 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 26, 2015 for the year ended December 31, 2014 (the “2014 Annual Report”).
	In order to conform to current year presentation, certain amounts on the Consolidated Condensed Statements of Income were reclassified from “Other revenues” to “Foreign currency exchange loss”. This reclassification had no impact on net income, earnings per share or operating cash flows.

New_Accounting_Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2015
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	NOTE 2. NEW ACCOUNTING PRONOUNCEMENTS
	In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03, Imputation of Interest (Subtopic 835-30). The amendments in this update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with the presentation of debt discounts. The Company does not expect the adoption of this accounting guidance to have a significant impact on its consolidated financial statements.

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2015
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
		March 31,
	(in thousands)	2015		2014
	Weighted-average number of shares of common stock for calculating basic earnings per share		26,091		25,789
	Effect of potentially dilutive securities from equity-based compensation		185		441
	Weighted-average number of shares of common stock for calculating diluted earnings per share		26,276		26,230
	The following securities were not included in the computation of diluted earnings per share as their effect would have been anti-dilutive:
		Three Months Ended
		March 31,
	(in thousands)	2015		2014
	Options to purchase shares of common stock		26		9
	In May 2008, the Company’s Board of Directors authorized the Company to repurchase an aggregate of 2,000,000 shares of the Company’s outstanding common stock. The Company has in the past made purchases of shares of its common stock from time to time in over-the-counter market (NASDAQ) transactions and/or through privately negotiated, large block transactions. Furthermore, in March 2015, pursuant to authorization from the Company’s Board of Directors, the Company entered into a share repurchase plan, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, for the repurchase of up to 987,790 shares of the Company’s common stock. All shares repurchased by the Company are canceled and returned to the status of authorized but unissued shares of common stock. During the three months ended March 31, 2015, the Company repurchased 12,210 shares of common stock for an aggregate repurchase price of $0.4 million, or an average price of $30.91 per share. There were no repurchases of common stock during the three months ended March 31, 2014. As of March 31, 2015, 1,987,790 shares remain authorized for repurchase.

Intangible_Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	NOTE 4. INTANGIBLE ASSETS
	Intangible assets consist of the following:
	(dollar amounts in thousands)	Estimated	March 31,			December 31,
		Useful Life	2015			2014
		In Years
	Trade name	Indefinite	$	5,700		$	5,700
	Customer relationships	11		9,611			9,611
				15,311			15,311
	Less accumulated amortization			(5,193	)		(4,975	)
			$	10,118		$	10,336
	The Company assesses potential impairment of its goodwill and intangible assets when there is evidence that events or circumstances have occurred that would indicate the recovery of an asset’s carrying value is unlikely. The Company also assesses potential impairment of its goodwill and intangible assets on an annual basis regardless of whether there is evidence of impairment. If indicators of impairment were to be present in intangible assets used in operations and future discounted cash flows were not expected to be sufficient to recover the assets’ carrying amount, an impairment loss would be charged to expense in the period identified. The amount of an impairment loss that would be recognized is the excess of the asset’s carrying value over its fair value. Factors the Company considers important, which may cause impairment include, among others, significant changes in the manner of use of the acquired asset, negative industry or economic trends, and significant underperformance relative to historical or projected operating results.
	The Company typically conducts its annual impairment analysis in the fourth quarter of its fiscal year. The impairment analysis did not result in an impairment charge for the fiscal year ended December 31, 2014. Determining the fair value of a reporting unit is judgmental and involves the use of significant estimates and assumptions. The Company based its fair value estimates on assumptions that it believes are reasonable but are uncertain and subject to changes in market conditions.
	Intangible assets with finite useful lives are amortized over their respective useful lives. Based on the carrying values at March 31, 2015 and assuming no subsequent impairment of the underlying assets, the amortization expense is expected to be $0.6 million for the remainder of fiscal year 2015 and $0.8 million in each of the fiscal years 2016 through 2020.

Segment_Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Reporting	NOTE 5. 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, 2014. Management focuses on several key measures to evaluate and assess each segment’s performance, including rental revenue growth, gross profit, income from operations and income before provision for income taxes. Excluding interest expense, allocations of revenue and expense not directly associated with one of these segments are generally allocated to Mobile Modular, TRS-RenTelco and Adler Tanks based on their pro-rata share of direct revenues. Interest expense is allocated among Mobile Modular, TRS-RenTelco and Adler Tanks based on their pro-rata share of average rental equipment at cost, intangible assets, accounts receivable, deferred income and customer security deposits. The Company does not report total assets by business segment. Summarized financial information for the three months ended March 31, 2015 and 2014 for the Company’s reportable segments is shown in the following table:
	(dollar amounts in thousands)		Mobile			TRS-			Adler			Enviroplex 1			Consolidated
			Modular			RenTelco			Tanks
	Three Months Ended March 31,
	2015
	Rental revenues		$	26,408		$	22,111		$	16,983		$	—		$	65,502
	Rental related services revenues			9,103			656			5,608			—			15,367
	Sales and other revenues			3,373			5,327			307			312			9,319
	Total revenues			38,884			28,094			22,898			312			90,188
	Depreciation of rental equipment			4,561			10,152			3,969			—			18,682
	Gross profit			15,704			11,310			12,007			66			39,087
	Selling and administrative expenses			11,356			6,118			6,918			820			25,212
	Income (loss) from operations			4,348			5,192			5,089			(754	)		13,875
	Interest expense (income) allocation			1,253			529			657			(48	)		2,391
	Income (loss) before provision for income taxes			3,095			4,495			4,432			(706	)		11,316
	Rental equipment acquisitions			16,359			16,230			2,665			—			35,254
	Accounts receivable, net (period end)			45,818			23,095			18,316			2,132			89,361
	Rental equipment, at cost (period end)			678,990			269,575			305,751			—			1,254,316
	Rental equipment, net book value (period end)			484,598			109,887			244,593			—			839,078
	Utilization (period end) 2			74.5	%		58.6	%		61.1	%
	Average utilization 2			74.2	%		59.9	%		61.1	%
	2014
	Rental revenues		$	21,533		$	23,760		$	17,137		$	—		$	62,430
	Rental related services revenues			7,317			722			5,473			—			13,512
	Sales and other revenues			4,790			5,159			564			1,105			11,618
	Total revenues			33,640			29,641			23,174			1,105			87,560
	Depreciation of rental equipment			3,831			10,391			3,675			—			17,897
	Gross profit			12,704			13,075			12,440			419			38,638
	Selling and administrative expenses			9,740			6,037			6,896			738			23,411
	Income (loss) from operations			2,964			7,038			5,544			(319	)		15,227
	Interest expense (income) allocation			1,103			523			623			(46	)		2,203
	Income (loss) before provision for income taxes			1,861			6,427			4,921			(273	)		12,936
	Rental equipment acquisitions			16,825			8,375			5,195			—			30,395
	Accounts receivable, net (period end)			36,512			23,731			21,430			1,398			83,071
	Rental equipment, at cost (period end)			607,616			263,545			288,641			—			1,159,802
	Rental equipment, net book value (period end)			426,983			106,164			242,728			—			775,875
	Utilization (period end) 2			69.4	%		56.4	%		64.5	%
	Average utilization 2			69.9	%		56.8	%		61	%
	1	Gross Enviroplex sales revenues were $316 and $1,105 for the three months ended March 31, 2015 and 2014, respectively. In 2015, there were inter-segment sales to Mobile Modular of $4, which have been eliminated in consolidation. There were no inter-segment sales to Mobile Modular in 2014 which required elimination.
	2	Utilization is calculated each month by dividing the cost of rental equipment on rent by the total cost of rental equipment excluding accessory equipment and for Mobile Modular and Adler Tanks excluding new equipment inventory. The Average Utilization for the period is calculated using the average costs of rental equipment.
	No single customer accounted for more than 10% of total revenues for the three months ended March 31, 2015 and 2014. Revenues from foreign country customers accounted for 6% of the Company’s total revenues for the same periods.

New_Accounting_Pronouncements_

New Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03, Imputation of Interest (Subtopic 835-30). The amendments in this update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with the presentation of debt discounts. The Company does not expect the adoption of this accounting guidance to have a significant impact on its 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)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Weighted-Average Number of Shares of Common Stock Used to Calculate Basic and Diluted Earnings Per Share	The table below presents the weighted-average number of shares of common stock used to calculate basic and diluted earnings per share:
		Three Months Ended
		March 31,
	(in thousands)	2015		2014
	Weighted-average number of shares of common stock for calculating basic earnings per share		26,091		25,789
	Effect of potentially dilutive securities from equity-based compensation		185		441
	Weighted-average number of shares of common stock for calculating diluted earnings per share		26,276		26,230
Securities Not Included in Computation of Diluted Earnings Per Share	The following securities were not included in the computation of diluted earnings per share as their effect would have been anti-dilutive:
		Three Months Ended
		March 31,
	(in thousands)	2015		2014
	Options to purchase shares of common stock		26		9

Intangible_Assets_Tables

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	Intangible assets consist of the following:
	(dollar amounts in thousands)	Estimated	March 31,			December 31,
		Useful Life	2015			2014
		In Years
	Trade name	Indefinite	$	5,700		$	5,700
	Customer relationships	11		9,611			9,611
				15,311			15,311
	Less accumulated amortization			(5,193	)		(4,975	)
			$	10,118		$	10,336

Segment_Reporting_Tables

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Summarized Financial Information for Company's Reportable Segments	Summarized financial information for the three months ended March 31, 2015 and 2014 for the Company’s reportable segments is shown in the following table:
	(dollar amounts in thousands)		Mobile			TRS-			Adler			Enviroplex 1			Consolidated
			Modular			RenTelco			Tanks
	Three Months Ended March 31,
	2015
	Rental revenues		$	26,408		$	22,111		$	16,983		$	—		$	65,502
	Rental related services revenues			9,103			656			5,608			—			15,367
	Sales and other revenues			3,373			5,327			307			312			9,319
	Total revenues			38,884			28,094			22,898			312			90,188
	Depreciation of rental equipment			4,561			10,152			3,969			—			18,682
	Gross profit			15,704			11,310			12,007			66			39,087
	Selling and administrative expenses			11,356			6,118			6,918			820			25,212
	Income (loss) from operations			4,348			5,192			5,089			(754	)		13,875
	Interest expense (income) allocation			1,253			529			657			(48	)		2,391
	Income (loss) before provision for income taxes			3,095			4,495			4,432			(706	)		11,316
	Rental equipment acquisitions			16,359			16,230			2,665			—			35,254
	Accounts receivable, net (period end)			45,818			23,095			18,316			2,132			89,361
	Rental equipment, at cost (period end)			678,990			269,575			305,751			—			1,254,316
	Rental equipment, net book value (period end)			484,598			109,887			244,593			—			839,078
	Utilization (period end) 2			74.5	%		58.6	%		61.1	%
	Average utilization 2			74.2	%		59.9	%		61.1	%
	2014
	Rental revenues		$	21,533		$	23,760		$	17,137		$	—		$	62,430
	Rental related services revenues			7,317			722			5,473			—			13,512
	Sales and other revenues			4,790			5,159			564			1,105			11,618
	Total revenues			33,640			29,641			23,174			1,105			87,560
	Depreciation of rental equipment			3,831			10,391			3,675			—			17,897
	Gross profit			12,704			13,075			12,440			419			38,638
	Selling and administrative expenses			9,740			6,037			6,896			738			23,411
	Income (loss) from operations			2,964			7,038			5,544			(319	)		15,227
	Interest expense (income) allocation			1,103			523			623			(46	)		2,203
	Income (loss) before provision for income taxes			1,861			6,427			4,921			(273	)		12,936
	Rental equipment acquisitions			16,825			8,375			5,195			—			30,395
	Accounts receivable, net (period end)			36,512			23,731			21,430			1,398			83,071
	Rental equipment, at cost (period end)			607,616			263,545			288,641			—			1,159,802
	Rental equipment, net book value (period end)			426,983			106,164			242,728			—			775,875
	Utilization (period end) 2			69.4	%		56.4	%		64.5	%
	Average utilization 2			69.9	%		56.8	%		61	%
	1	Gross Enviroplex sales revenues were $316 and $1,105 for the three months ended March 31, 2015 and 2014, respectively. In 2015, there were inter-segment sales to Mobile Modular of $4, which have been eliminated in consolidation. There were no inter-segment sales to Mobile Modular in 2014 which required elimination.
	2	Utilization is calculated each month by dividing the cost of rental equipment on rent by the total cost of rental equipment excluding accessory equipment and for Mobile Modular and Adler Tanks excluding new equipment inventory. The Average Utilization for the period is calculated using the average costs of rental equipment.

Earnings_Per_Share_WeightedAve

Earnings Per Share - Weighted-Average Number of Shares of Common Stock Used to Calculate Basic and Diluted Earnings Per Share (Detail)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Weighted-average number of shares of common stock for calculating basic earnings per share	26,091	25,789
Effect of potentially dilutive securities from equity-based compensation	185	441
Weighted-average number of shares of common stock for calculating diluted earnings per share	26,276	26,230

Earnings_Per_Share_Securities_

Earnings Per Share - Securities Not Included in Computation of Diluted Earnings Per Share (Detail)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Options to purchase shares of common stock	26	9

Earnings_Per_Share_Additional_

Earnings Per Share - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	31-May-08
Equity, Class of Treasury Stock [Line Items]
Common stock repurchased, shares		0	2,000,000
Shares remain authorized for repurchase	1,987,790
2015 Plan [Member]
Equity, Class of Treasury Stock [Line Items]
Common stock repurchased, shares	12,210
Common stock repurchased, value	$0.40
Common stock repurchased, price per share	$30.91
2015 Plan [Member] | Maximum [Member]
Equity, Class of Treasury Stock [Line Items]
Common stock repurchased, shares	987,790

Intangible_Assets_Summary_of_I

Intangible Assets - Summary of Intangible Assets (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Trade name	$5,700	$5,700
Customer relationships	9,611	9,611
Intangible Assets, gross	15,311	15,311
Less accumulated amortization	-5,193	-4,975
Intangible Assets, net	$10,118	$10,336
Estimated useful life (In years), Customer relationships	11 years

Intangible_Assets_Additional_I

Intangible Assets - Additional Information (Detail) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment charge		$0
Subsequent impairment of the underlying assets	0
Expected amortization expense for the remainder of 2015	600,000
Expected amortization expense for 2016	800,000
Expected amortization expense for 2017	800,000
Expected amortization expense for 2018	800,000
Expected amortization expense for 2019	800,000
Expected amortization expense for 2020	$800,000

Segment_Reporting_Additional_I

Segment Reporting - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Number of reportable segments	4
Customer Concentration Risk [Member] | Sales [Member]
Segment Reporting Information [Line Items]
Revenues from customers	10.00%	10.00%
Geographic Concentration Risk [Member] | Sales [Member] | Foreign Country Customers [Member]
Segment Reporting Information [Line Items]
Revenues from customers	6.00%	6.00%

Segment_Reporting_Summarized_F

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Rental revenues	$65,502	$62,430
Rental related services revenues	15,367	13,512
Sales and other revenues	9,319	11,618
Total revenues	90,188	87,560
Depreciation of rental equipment	18,682	17,897
Gross profit	39,087	38,638
Selling and administrative expenses	25,212	23,411
Income (loss) from operations	13,875	15,227
Interest expense (income) allocation	2,391	2,203
Income (loss) before provision for income taxes	11,316	12,936
Rental equipment acquisitions	35,254	30,395
Accounts receivable, net (period end)	89,361	83,071	101,294
Rental equipment, at cost (period end)	1,254,316	1,159,802	1,229,638
Rental equipment, net book value (period end)	839,078	775,875	825,750
Enviroplex [Member]
Segment Reporting Information [Line Items]
Sales and other revenues	312	1,105
Total revenues	312	1,105
Gross profit	66	419
Selling and administrative expenses	820	738
Income (loss) from operations	-754	-319
Interest expense (income) allocation	-48	-46
Income (loss) before provision for income taxes	-706	-273
Accounts receivable, net (period end)	2,132	1,398
Mobile Modular [Member]
Segment Reporting Information [Line Items]
Rental revenues	26,408	21,533
Rental related services revenues	9,103	7,317
Sales and other revenues	3,373	4,790
Total revenues	38,884	33,640
Depreciation of rental equipment	4,561	3,831
Gross profit	15,704	12,704
Selling and administrative expenses	11,356	9,740
Income (loss) from operations	4,348	2,964
Interest expense (income) allocation	1,253	1,103
Income (loss) before provision for income taxes	3,095	1,861
Rental equipment acquisitions	16,359	16,825
Accounts receivable, net (period end)	45,818	36,512
Rental equipment, at cost (period end)	678,990	607,616
Rental equipment, net book value (period end)	484,598	426,983
Utilization (period end)	74.50%	69.40%
Average utilization	74.20%	69.90%
TRS-RenTelco [Member]
Segment Reporting Information [Line Items]
Rental revenues	22,111	23,760
Rental related services revenues	656	722
Sales and other revenues	5,327	5,159
Total revenues	28,094	29,641
Depreciation of rental equipment	10,152	10,391
Gross profit	11,310	13,075
Selling and administrative expenses	6,118	6,037
Income (loss) from operations	5,192	7,038
Interest expense (income) allocation	529	523
Income (loss) before provision for income taxes	4,495	6,427
Rental equipment acquisitions	16,230	8,375
Accounts receivable, net (period end)	23,095	23,731
Rental equipment, at cost (period end)	269,575	263,545
Rental equipment, net book value (period end)	109,887	106,164
Utilization (period end)	58.60%	56.40%
Average utilization	59.90%	56.80%
Adler Tanks [Member]
Segment Reporting Information [Line Items]
Rental revenues	16,983	17,137
Rental related services revenues	5,608	5,473
Sales and other revenues	307	564
Total revenues	22,898	23,174
Depreciation of rental equipment	3,969	3,675
Gross profit	12,007	12,440
Selling and administrative expenses	6,918	6,896
Income (loss) from operations	5,089	5,544
Interest expense (income) allocation	657	623
Income (loss) before provision for income taxes	4,432	4,921
Rental equipment acquisitions	2,665	5,195
Accounts receivable, net (period end)	18,316	21,430
Rental equipment, at cost (period end)	305,751	288,641
Rental equipment, net book value (period end)	$244,593	$242,728
Utilization (period end)	61.10%	64.50%
Average utilization	61.10%	61.00%

Segment_Reporting_Summarized_F1

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Parenthetical) (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Revenues	$90,188	$87,560
Enviroplex [Member]
Segment Reporting Information [Line Items]
Revenues	312	1,105
Mobile Modular [Member]
Segment Reporting Information [Line Items]
Revenues	38,884	33,640
Operating Segments [Member] | Enviroplex [Member]
Segment Reporting Information [Line Items]
Revenues	316	1,105
Inter-segment Eliminations [Member] | Mobile Modular [Member]
Segment Reporting Information [Line Items]
Sales revenues	$4	$0