McGrath RentCorp (MGRC) 10-K 28 Feb 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Feb. 27, 2017	Jun. 30, 2016
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Trading Symbol	MGRC
Entity Registrant Name	MCGRATH RENTCORP
Entity Central Index Key	752,714
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		23,947,737
Entity Public Float			$ 710,906,155

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets
Cash	$ 852	$ 1,103
Accounts receivable, net of allowance for doubtful accounts of $2,087 in 2016 and 2015	96,877	95,017
Income taxes receivable		11,000
Rental equipment, at cost:
Relocatable modular buildings	769,190	736,875
Electronic test equipment	246,325	262,945
Liquid and solid containment tanks and boxes	308,542	310,263
Rental equipment, gross	1,324,057	1,310,083
Less accumulated depreciation	(467,686)	(440,482)
Rental equipment, net	856,371	869,601
Property, plant and equipment, net	112,190	109,753
Prepaid expenses and other assets	25,583	28,802
Intangible assets, net	8,595	9,465
Goodwill	27,808	27,808
Total assets	1,128,276	1,152,549
Liabilities:
Notes payable	326,266	381,281
Accounts payable and accrued liabilities	78,205	71,942
Deferred income	37,499	36,288
Deferred income taxes, net	292,019	283,351
Total liabilities	733,989	772,862
Commitments and contingencies (Note 7)
Shareholders’ equity:
Common stock, no par value — authorized 40,000 shares Issued and outstanding — 23,948 shares as of December 31, 2016 and 23,851 shares as of December 31, 2015	101,821	101,046
Retained earnings	292,521	278,708
Accumulated other comprehensive loss	(55)	(67)
Total shareholders’ equity	394,287	379,687
Total liabilities and shareholders’ equity	$ 1,128,276	$ 1,152,549

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2,087	$ 2,087
Common stock, par value
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	23,948,000	23,851,000
Common Stock, shares outstanding	23,948,000	23,851,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues
Rental	$ 271,388	$ 273,696	$ 269,575
Rental related services	75,859	73,314	64,132
Rental operations	347,247	347,010	333,707
Sales	74,410	55,385	72,248
Other	2,423	2,149	2,167
Total revenues	424,080	404,544	408,122
Direct costs of rental operations
Depreciation of rental equipment	72,197	75,213	72,678
Rental related services	56,374	54,719	48,849
Other	62,800	60,936	56,946
Total direct costs of rental operations	191,371	190,868	178,473
Cost of sales	48,542	36,769	47,430
Total costs of revenues	239,913	227,637	225,903
Gross profit	184,167	176,907	182,219
Selling and administrative expenses	104,908	99,950	96,859
Income from operations	79,259	76,957	85,360
Other income (expense):
Interest expense	(12,207)	(10,092)	(9,280)
Gain on sale of property, plant and equipment			812
Foreign currency exchange loss	(121)	(488)	(331)
Income before provision for income taxes	66,931	66,377	76,561
Provision for income taxes	28,680	25,907	30,852
Net income	$ 38,251	$ 40,470	$ 45,709
Earnings per share:
Basic	$ 1.60	$ 1.60	$ 1.77
Diluted	$ 1.60	$ 1.59	$ 1.75
Shares used in per share calculations:
Basic	23,900	25,369	25,914
Diluted	23,976	25,457	26,175
Cash dividends declared per share	$ 1.02	$ 1	$ 0.98

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 38,251	$ 40,470	$ 45,709
Other comprehensive income (loss):
Foreign currency translation adjustment	24	55	(82)
Tax benefit (provision)	(12)	(20)	11
Comprehensive income	$ 38,263	$ 40,505	$ 45,638

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Dec. 31, 2013	$ 401,030	$ 103,023	$ 298,038	$ (31)
Balance, Shares at Dec. 31, 2013		25,757,000
Net income	45,709		45,709
Share-based compensation	3,854	$ 3,854
Common stock issued under stock plans, net of shares withheld for employee taxes	1,729	$ 1,729
Common stock issued under stock Plans, net of shares withheld for employee taxes, Shares		294,000
Excess tax benefit (shortfall) from equity awards	1,822	$ 1,822
Taxes paid related to net share settlement of stock awards	(3,959)	(3,959)
Dividends accrued of $0.98, $1.00, $1.02 per share in 2014,2015 and 2016	(25,583)		(25,583)
Other comprehensive (loss) gain	(71)			(71)
Balance at Dec. 31, 2014	424,531	$ 106,469	318,164	(102)
Balance, Shares at Dec. 31, 2014		26,051,000
Net income	6,846
Balance at Mar. 31, 2015	425,848
Balance at Dec. 31, 2014	424,531	$ 106,469	318,164	(102)
Balance, Shares at Dec. 31, 2014		26,051,000
Net income	40,470		40,470
Share-based compensation	3,399	$ 3,399
Common stock issued under stock plans, net of shares withheld for employee taxes	2,149	$ 2,149
Common stock issued under stock Plans, net of shares withheld for employee taxes, Shares		208,000
Common stock repurchased	$ (63,953)	$ (9,119)	(54,834)
Common stock repurchased, Shares	(2,407,974)	(2,408,000)
Excess tax benefit (shortfall) from equity awards	$ (292)	$ (292)
Taxes paid related to net share settlement of stock awards	(1,560)	(1,560)
Dividends accrued of $0.98, $1.00, $1.02 per share in 2014,2015 and 2016	(25,092)		(25,092)
Other comprehensive (loss) gain	35			35
Balance at Dec. 31, 2015	$ 379,687	$ 101,046	278,708	(67)
Balance, Shares at Dec. 31, 2015	23,851,000	23,851,000
Balance at Mar. 31, 2015	$ 425,848
Net income	8,490
Balance at Jun. 30, 2015	426,823
Net income	13,616
Balance at Sep. 30, 2015	389,464
Net income	11,518
Balance at Dec. 31, 2015	$ 379,687	$ 101,046	278,708	(67)
Balance, Shares at Dec. 31, 2015	23,851,000	23,851,000
Net income	$ 6,566
Balance at Mar. 31, 2016	380,512
Balance at Dec. 31, 2015	$ 379,687	$ 101,046	278,708	(67)
Balance, Shares at Dec. 31, 2015	23,851,000	23,851,000
Net income	$ 38,251		38,251
Share-based compensation	3,091	$ 3,091
Common stock issued under stock plans, net of shares withheld for employee taxes	$ 37	$ 37
Common stock issued under stock Plans, net of shares withheld for employee taxes, Shares		97,000
Common stock repurchased, Shares	0
Excess tax benefit (shortfall) from equity awards	$ (1,066)	$ (1,066)
Taxes paid related to net share settlement of stock awards	(1,287)	(1,287)
Dividends accrued of $0.98, $1.00, $1.02 per share in 2014,2015 and 2016	(24,438)		(24,438)
Other comprehensive (loss) gain	12			12
Balance at Dec. 31, 2016	$ 394,287	$ 101,821	292,521	(55)
Balance, Shares at Dec. 31, 2016	23,948,000	23,948,000
Balance at Mar. 31, 2016	$ 380,512
Net income	9,079
Balance at Jun. 30, 2016	383,313
Net income	12,872
Balance at Sep. 30, 2016	390,600
Net income	9,734
Balance at Dec. 31, 2016	$ 394,287	$ 101,821	$ 292,521	$ (55)
Balance, Shares at Dec. 31, 2016	23,948,000	23,948,000

Consolidated Statements of Sha7

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Dividends accrued per share	$ 1.02	$ 1	$ 0.98
Retained Earnings [Member]
Dividends accrued per share	$ 1.02	$ 1	$ 0.98

Consolidated Statements of Cash

Consolidated Statements of Cash Flows $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Cash Flows from Operating Activities:
Net income	$ 38,251	$ 40,470	$ 45,709
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	81,179	84,280	81,125
Provision for doubtful accounts	1,892	2,149	1,825
Share-based compensation	3,091	3,399	3,854
Gain on sale of used rental equipment	(13,739)	(11,902)	(15,368)
Gain on sale of property, plant and equipment			(812)
Foreign currency exchange loss	121	488	331
Amortization of debt issuance cost	51	52	14
Change in:
Accounts receivable	(3,752)	3,628	(15,607)
Income taxes receivable	11,000	(11,000)
Prepaid expenses and other assets	3,219	12,910	(13,528)
Accounts payable and accrued liabilities	11,492	(1,520)	10,662
Deferred income	1,211	7,149	5,136
Deferred income taxes	7,745	14,449	19,645
Net cash provided by operating activities	141,761	144,552	122,986
Cash Flows from Investing Activities:
Purchases of rental equipment	(79,038)	(131,037)	(152,197)
Purchases of property, plant and equipment	(10,548)	(9,321)	(12,740)
Proceeds from sale of used rental equipment	29,406	26,214	32,556
Proceeds from sale of property, plant and equipment			2,501
Net cash used in investing activities	(60,180)	(114,144)	(129,880)
Cash Flows from Financing Activities:
Net borrowings (repayments) under bank lines of credit	(35,066)	18,963	12,475
Principal payments on Series A senior notes	(20,000)	(20,000)	(20,000)
Proceeds from the exercise of stock options	37	2,149	1,729
Excess tax benefit (shortfall) from exercise of stock awards	(1,066)	(292)	1,822
Taxes paid related to net share settlement of stock awards	(1,287)	(1,560)	(3,959)
Repurchase of common stock		(63,953)
Payment of dividends	(24,448)	(25,779)	(25,551)
Net cash provided by (used in) financing activities	(81,830)	(30,472)	6,516
Effect of foreign currency exchange rate changes on cash	(2)		(85)
Net decrease in cash	(251)	(64)	(463)
Cash balance, beginning of period	1,103	1,167	1,630
Cash balance, end of period	852	1,103	1,167
Supplemental Disclosure of Cash Flow Information:
Interest paid, during the period	12,436	10,041	9,074
Net income taxes paid, during the period	15,555	2,498	22,275
Dividends accrued during the period, not yet paid	6,147	6,019	6,526
Rental equipment acquisitions, not yet paid	$ 2,876	7,280	4,942
Series B Senior Notes
Cash Flows from Financing Activities:
Borrowings			$ 40,000
Series C Senior Notes
Cash Flows from Financing Activities:
Borrowings		$ 60,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization McGrath RentCorp and its wholly-owned subsidiaries (the “Company”) is a California corporation organized in 1979. The Company is a diversified business to business rental company with four rental divisions; relocatable modular buildings, portable storage containers, electronic test equipment and liquid and solid containment tanks and boxes. Although the Company’s primary emphasis is on equipment rentals, sales of equipment occur in the normal course of business. The Company is comprised of four reportable business segments: modular building and portable storage segment (“Mobile Modular”), electronic test equipment segment (“TRS-RenTelco”), containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (“Adler Tanks”) and classroom manufacturing division selling modular classrooms in California (“Enviroplex”). Principles of Consolidation The consolidated financial statements include the accounts of McGrath RentCorp and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Revenue Recognition Rental revenue from operating leases is recognized on a straight-line basis over the term of the lease. Rental billings for periods extending beyond period end are recorded as deferred income and are recognized when earned. Rental related services revenue is primarily associated with relocatable modular building and liquid and solid containment tanks and boxes leases. For modular building leases, rental related services revenue consists of billings to customers for modifications, delivery, installation, additional site-related work, and dismantle and return delivery. For modular building leases, revenue related to delivery, installation, dismantle and return delivery are an integral part of the negotiated lease agreement with customers and are recognized on a straight-line basis over the term of the lease. For liquid and solid containment solutions, rental related services revenue consists of billings for delivery, removal and cleaning of the tanks and boxes. These revenues are recognized in the period performed. Sales revenue is recognized upon delivery and installation of the equipment to customers. Certain leases are accounted for as sales-type leases. For these leases, sales revenue and the related accounts receivable are recognized upon delivery and installation of the equipment and the unearned interest is recognized over the lease term on a basis which results in a constant rate of return on the unrecovered lease investment. Other revenue is recognized when earned and primarily includes interest income on sales-type leases, rental income on facility rentals and certain logistics services. Sales taxes charged to customers are reported on a net basis and are excluded from revenues and expenses. Depreciation of Rental Equipment Rental equipment is depreciated on a straight-line basis for financial reporting purposes and on an accelerated basis for income tax purposes. The costs of major refurbishment of relocatable modular buildings and portable storage containers are capitalized to the extent the refurbishment significantly adds value to, or extends the life of the equipment. Maintenance and repairs are expensed as incurred. The estimated useful lives and residual values of the Company’s rental equipment used for financial reporting purposes are as follows: Relocatable modular buildings 18 years, 50% residual value Relocatable modular accessories 3 to 18 years, no residual value Portable storage containers 25 years, 62.5% residual value Electronic test equipment and accessories 1 to 8 years, no residual value Liquid and solid containment tanks and boxes and accessories 10 to 20 years, no residual value Costs of Rental Related Services Costs of rental related services are primarily associated with relocatable modular building leases and liquid and solid containment tank and boxes. Modular building leases consist of costs for services to be provided under the negotiated lease agreement for delivery, installation, modifications, skirting, additional site-related work, and dismantle and return delivery. Costs related to these services are recognized on a straight-line basis over the term of the lease. Costs of rental related services associated with liquid and solid containment solutions consists of costs of delivery, removal and cleaning of the tanks and boxes. These costs are recognized in the period the service is performed. Impairment of Long-Lived Assets The Company evaluates the carrying value of rental equipment and identifiable definite lived intangible assets for impairment whenever events or circumstances have occurred that would indicate the carrying amount may not be fully recoverable. A key element in determining the recoverability of long-lived assets is the Company’s outlook as to the future market conditions for its rental equipment. If the carrying amount is not fully recoverable, an impairment loss is recognized to reduce the carrying amount to fair value. The Company determines fair value based upon the condition of the rental equipment and the projected net cash flows from its rental and sale considering current market conditions. Goodwill and identifiable indefinite lived assets are evaluated for potential impairment annually or when circumstances indicate potential impairment may have occurred. Impairment losses, if any, are determined based upon the excess of carrying value over the estimated fair value of the asset. There were no impairments of long-lived assets during the years ended December 31, 2016, 2015 and 2014. Other Direct Costs of Rental Operations Other direct costs of rental operations include direct labor, supplies, repairs, insurance, property taxes, license fees and certain modular lease costs charged to customers in the negotiated rental rate, which are recognized on a straight-line basis over the term of the lease. Cost of Sales Cost of sales in the Consolidated Statements of Income includes the carrying value of the equipment sold and all direct costs associated with the sale. Warranty Reserves Sales of new relocatable modular buildings, portable storage containers, electronic test equipment and related accessories and liquid and solid containment tanks and boxes not manufactured by the Company are typically covered by warranties provided by the manufacturer of the products sold. The Company typically provides limited 90-day warranties for certain sales of used rental equipment and one-year warranties on equipment manufactured by Enviroplex. Although the Company’s policy is to provide reserves for warranties when required for specific circumstances, the Company has not found it necessary to establish such reserves to date as warranty costs have not been significant. Property, Plant and Equipment Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation is recognized on a straight-line basis for financial reporting purposes, and on an accelerated basis for income tax purposes. Depreciation expenses for property, plant and equipment is included in “Selling and administrative expenses” and “Rental related services” in the Consolidated Statements of Income. Maintenance and repairs are expensed as incurred. Property, plant and equipment consist of the following: (dollar amounts in thousands) Estimated useful life December 31, in years 2016 2015 Land Indefinite $ 45,928 $ 40,378 Land improvements 20 – 50 42,677 42,004 Buildings 30 26,105 25,520 Furniture, office and computer equipment 3 – 10 35,215 34,053 Machinery and service equipment 5 – 25 30,416 28,642 180,341 170,597 Less accumulated depreciation (68,854 ) (61,410 ) 111,487 109,187 Construction in progress 703 566 $ 112,190 $ 109,753 Property, plant and equipment depreciation expense was $8.1 million, $8.2 million and $7.6 million for the years ended December 31, 2016, 2015 and 2014, respectively. Construction in progress at December 31, 2016 and 2015 consisted primarily of costs related to acquisition of land and land improvements and information technology upgrades. Capitalized Software Costs The Company capitalizes certain development costs incurred in connection with its internal use software. Costs incurred in the preliminary stages of development are expensed as incurred. Once an application has reached the development stage, direct internal and external costs are capitalized until the software is substantially complete and ready for its intended use. These costs generally include external direct costs of materials and services consumed in the project and internal costs, such as payroll and benefits of those employees directly associated with the development of the software. Maintenance and training costs are expensed as incurred. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional functionality. Capitalized software costs are included in property, plant and equipment. The Company capitalized $0.2 million and $0.6 million in internal use software during the years ended December 31, 2016 and 2015, respectively. Advertising Costs Advertising costs are expensed as incurred. Total advertising expenses were $2.9 million, $2.8 million and $2.4 million for the years ended December 31, 2016, 2015 and 2014. Income Taxes Income taxes are accounted for using an asset and liability approach. Deferred tax assets and liabilities are recorded for the effect of temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements. Deferred tax assets and deferred tax liabilities are adjusted to the extent necessary to reflect tax rates expected to be in effect when temporary differences reverse. Adjustments may be required to deferred tax assets and deferred tax liabilities due to changes in tax laws and audit adjustments by tax authorities. A valuation allowance would be established if, based on the weight of available evidence, management believes that it is more likely than not that some portion or all of a recorded deferred tax asset would not be realized in future periods. To the extent adjustments are required in any given period, the adjustments would be included within the tax provision in the Consolidated Statements of Income. Goodwill and Intangible Assets Purchase prices of acquired businesses have been allocated to the assets and liabilities acquired based on the estimated fair values on the respective acquisition dates. Based on these values, the excess purchase prices over the fair value of the net assets acquired were allocated to goodwill and other intangible assets. Intangible assets related to customer relationships are amortized over eleven years. At December 31, 2016 and 2015, goodwill and trade name intangible assets which have indefinite lives totaled $33.5 million. 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 would be recognized as 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 impairment review of the Company’s goodwill and indefinite lived assets is performed by first assessing qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. In the first step, the fair value of the reporting unit is compared to its carrying value to determine if the goodwill and intangible assets are impaired. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that unit, then goodwill and intangible assets are not impaired and no further testing is required. If the carrying value of the net assets assigned to the reporting unit were to exceed its fair value, then the second step is performed in order to determine the implied fair value of the reporting unit’s goodwill and intangible assets and an impairment loss is recorded for an amount equal to the difference between the implied fair value and the carrying value of the goodwill and intangible assets. The Company conducted 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 years ended 2016, 2015 or 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. 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 effects of stock options, unvested restricted stock awards and other potentially dilutive securities. The table below presents the weighted-average common stock used to calculate basic and diluted earnings per share: (in thousands) Year Ended December 31, 2016 2015 2014 Weighted-average common stock for calculating basic earnings per share 23,900 25,369 25,914 Effect of potentially dilutive securities from equity-based compensation 76 88 261 Weighted-average common stock for calculating diluted earnings per share 23,976 25,457 26,175 The following securities were not included in the computation of diluted earnings per share as their effect would have been anti-dilutive: (in thousands) Year Ended December 31, 2016 2015 2014 Options to purchase common stock 661 746 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, through privately negotiated, large block transactions and through a share repurchase plan, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. In August 2015, the Company’s Board of Directors authorized the Company to repurchase an additional 2,000,000 shares of the Company's outstanding common stock. The amount and time of the specific repurchases are subject to prevailing market conditions, applicable legal requirements and other factors, including management’s discretion. All shares repurchased by the Company are canceled and returned to the status of authorized but unissued shares of common stock. There can be no assurance that any authorized shares will be repurchased and the repurchase program may be modified, extended or terminated by the Board of Directors at any time. The following table presents share repurchase activities during the years ended December 31, 2016 and 2015: Year ended December 31 (in thousands, except share and per share amounts) 2016 2015 Number of shares repurchased — 2,407,974 Aggregate purchase price — 63,953 Average price per repurchased shares — 26.56 As of December 31, 2016, 1,592,026 shares remain authorized for repurchase. Accounts Receivable and Concentration of Credit Risk The Company’s accounts receivable consist of amounts due from customers for rentals, sales, financed sales and unbilled amounts for the portion of modular building end-of-lease services earned, which were negotiated as part of the lease agreement. Unbilled receivables related to end-of-lease services, which consists of dismantle and return delivery of buildings, were $28.1 million at December 31, 2016 and $25.0 million at December 31, 2015. The Company sells primarily on 30-day terms, individually performs credit evaluation procedures on its customers on each transaction and will require security deposits from its customers when a significant credit risk is identified. The Company records an allowance for doubtful accounts in amounts equal to the estimated losses expected to be incurred in the collection of the accounts receivable. The estimated losses are based on historical collection experience in conjunction with an evaluation of the current status of the existing accounts. Customer accounts are written off against the allowance for doubtful accounts when an account is determined to be uncollectable. The allowance for doubtful accounts activity was as follows: (in thousands) 2016 2015 Beginning balance, January 1 $ 2,087 $ 2,038 Provision for doubtful accounts 1,892 2,149 Write-offs, net of recoveries (1,892 ) (2,100 ) Ending balance, December 31 $ 2,087 $ 2,087 Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of trade accounts receivable. From time to time, the Company maintains cash balances in excess of the Federal Deposit Insurance Corporation limits. Fair Value of Financial Instruments The Company believes that the carrying amounts for cash, accounts receivable, accounts payable and notes payable approximate their fair values except for fixed rate debt included in notes payable which has an estimated fair value of $140.7 million and $160.6 million compared to the recorded value of $140.0 million and $160.0 million as of December 31, 2016 and 2015, respectively. The estimates of fair value of the Company’s fixed rate debt are based on the borrowing rates currently available to the Company for bank loans with similar terms and average maturities. Foreign Currency Transactions and Translation The Company's Canadian subsidiary, TRS-RenTelco Inc., a British Columbia corporation (“TRS-Canada”), functions as a branch sales office for TRS-RenTelco in Canada. The functional currency for TRS-Canada is the U.S. dollar. Foreign currency transaction gains and losses of TRS-Canada are reported in the results of operations in the period in which they occur. The Company’s Indian subsidiary, TRS-RenTelco India Private Limited (“TRS-India”), functions as a rental and sales office for TRS-RenTelco in India. The functional currency for TRS-India is the Indian Rupee. All assets and liabilities of TRS-India are translated into U.S. dollars at period-end exchange rates and all income statement amounts are translated at the average exchange rate for each month within the year. Currently, the Company does not use derivative instruments to hedge its economic exposure with respect to assets, liabilities and firm commitments as the foreign currency transactions and risks to date have not been significant. Share-Based Compensation The Company measures and recognizes the compensation expense for all share-based awards made to employees and directors, including stock options, stock appreciation rights (“SARs”) and restricted stock units (“RSUs”), based upon estimated fair values. The fair value of stock options and SARs is estimated on the date of grant using the Black-Scholes option pricing model and for RSUs based upon the fair market value of the underlying shares of common stock as of the date of grant. The Company recognizes share-based compensation cost ratably on a straight-line basis over the requisite service period, which generally equals the vesting period. For performance-based RSUs, compensation costs are recognized when vesting conditions are met. In addition, the Company estimates the probable number of shares of common stock that will be earned and the corresponding compensation cost until the achievement of the performance goal is known. The Company records share-based compensation costs in “Selling and administrative expenses” in the Consolidated Statements of Income. The Company recognizes a benefit from share-based compensation in the Consolidated Statements of Shareholders’ Equity if an incremental tax benefit is realized. Further information regarding share-based compensation can be found in “Note 5 –Benefit Plans”. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions in determining reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during each period presented. Actual results could differ from those estimates. The most significant estimates included in the financial statements are the future cash flows and fair values used to determine the recoverability of the rental equipment and identifiable definite lived intangible assets carrying value, the various assets’ useful lives and residual values, and the allowance for doubtful accounts. Reclassification In order to conform to current year presentation, certain prior year amounts on the Consolidated Balance Sheet were reclassified from “Accounts receivable” to “Prepaid expenses and other assets” and debt issuance cost from “Prepaid expenses and other assets” to “Notes payable”. The reclassifications had no impact on net income, earnings per share or operating cash flows. 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 FASB has continued to issue ASUs to clarify and provide implementation guidance related to Revenue from Contracts with Customers, including ASU 2016-08 , Revenue from Contract with Customers: Principal versus Agent Considerations , ASU 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing , ASU 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients and ASU 2016-20, Revenue from Contracts with Customers: Technical Correction and Improvements. These amendments address a number of areas, including the entity’s identification of its performance obligations in a contract, collectability, non-cash consideration, presentation of sales tax and an entity’s evaluation of the nature of its promise to grant a license of intellectual property and whether or not that revenue is recognized over time or at a point in time. In February 2016, the FASB issued ASU No. 2016-02, Leases (Subtopic 842-10). Under the new guidance, lessees will be required to recognize the following for all leases (with the exception of short-term leases) on the commencement date: a) lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718). Under the new guidance, all excess tax benefits and tax deficiencies will be recognized in the income statement as they occur. This will replace the current guidance, which requires tax benefits that exceed compensation cost (windfalls) to be recognized in equity, and tax deficiencies (shortfalls) to be recognized in equity to the extent of previously recognized windfalls. It will also eliminate the need to maintain a “windfall pool,” and will remove the requirement to delay recognizing a windfall until it reduces current taxes payable. The new guidance will also change the cash flow presentation of excess tax benefits, classifying them as operating inflows, consistent with other cash flows related to income taxes. The amendments in this guidance are effective for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. The adoption of this guidance is not expected to have a material impact on the Company’s financial position or results of operations. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts. This update addresses eight specific cash flow issues with the objective of reducing the existing diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments in this guidance are effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. The Company is evaluating the impact of the adoption of this guidance on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-01, Business Combination (Topic 805): Clarifying the Definition of a Business. The amendments in this update provide a screen to determine when an integrated set of assets and activities is not a business. The amendments in this guidance are effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The adoption of this guidance is not expected to have a material impact on the Company’s financial position or results of operations.

Financed Lease Receivables

Financed Lease Receivables	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Financed Lease Receivables	NOTE 2. FINANCED LEASE RECEIVABLES The Company has entered into sales-type leases to finance certain equipment sales to customers. The lease agreements have a bargain purchase option at the end of the lease term. The minimum lease payments receivable and the net investment included in accounts receivable for such leases are as follows: (in thousands) December 31, 2016 2015 Gross minimum lease payments receivable $ 3,252 $ 2,745 Less – unearned interest (301 ) (175 ) Net investment in sales type lease receivables $ 2,951 $ 2,570 As of December 31, 2016, the future minimum lease payments under non-cancelable sales-type leases to be received in 2017 and thereafter are as follows: (in thousands) Year Ended December 31, 2017 $ 2,162 2018 605 2019 192 2020 192 2021 101 Total minimum future lease payments $ 3,252

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Notes Payable	NOTE 3. NOTES PAYABLE Notes payable consists of the following: (in thousands) December 31, 2016 2015 Unsecured revolving lines of credit $ 186,376 $ 221,441 4.03% Series A senior notes due in 2018 40,000 60,000 3.68% Series B senior notes due in 2021 40,000 40,000 3.84% Series C senior notes due in 2022 60,000 60,000 $ 326,376 $ 381,441 As of December 31, 2016, the future minimum payments under the unsecured revolving lines of credit, 4.03% Series A senior notes due in 2018, 3.68% Series B senior notes due in 2021 and 3.84% Series C senior notes due in 2022 are as follows: (in thousands) Year Ended December 31, 2017 $ 20,000 2018 20,000 2019 — 2020 — 2021 226,376 2022 and thereafter 60,000 $ 326,376 Unsecured Revolving Lines of Credit In March 2016, the Company renewed its credit agreement with a syndicate of banks (the “Credit Facility”). The five-year facility matures on March 31, 2021 and replaced the Company’s prior $420.0 million unsecured revolving credit facility. The Credit Facility provides for a $420.0 million unsecured revolving credit facility (which may be increased to $620.0 million with $200.0 million of additional commitments), which includes a $25.0 million sublimit for the issuance of standby letters of credit and a $10.0 million sublimit for swingline loans. In March 2016, the Company entered into a Credit Facility Letter Agreement and a Credit Line Note in favor of MUFG Union Bank, N.A., extending its line of credit facility related to its cash management services (“Sweep Service Facility”) and increasing the facility size from $10.0 million to $12.0 million. The Sweep Service Facility matures on the earlier of March 31, 2021, or the date the Company ceases to utilize MUFG Union Bank, N.A. for its cash management services. At December 31, 2016, under the Credit Facility and Sweep Service Facility, the Company had unsecured lines of credit that permit it to borrow up to $432.0 million of which $186.4 million was outstanding, and had capacity to borrow up to an additional $245.6 million. The Amended Credit Facility contains financial covenants requiring the Company to not (all defined terms used below not otherwise defined herein have the meaning assigned to such terms in the Amended Credit Facility): • Permit the Consolidated Fixed Charge Coverage Ratio of EBITDA to fixed charges as of the end of any fiscal quarter to be less than 2.50 to 1. At December 31, 2016, the actual ratio was 3.74 to 1. • Permit the Consolidated Leverage Ratio of funded debt to EBITDA at any time during any period of four consecutive fiscal quarters to be greater than 2.75 to 1. At December 31, 2016, the actual ratio was 2.00 to 1. • Permit Tangible Net Worth as of the end of any fiscal quarter of the Company to be less than the sum of (i) $246.1 million plus (ii) 25% of the Company’s Consolidated Net Income (as defined in the Amended Credit Facility) (but only if a positive number) for each fiscal quarter ended subsequent to December 31, 2011 plus (iii) 90% of the net cash proceeds from the issuance of the Company’s capital stock after December 31, 2011. At December 31, 2016, such sum was $313.3 million and the actual Tangible Net Worth of the Company was $357.9 million. Amounts borrowed under the Credit Facility bear interest at the Company’s option at either: (i) LIBOR plus a defined margin, or (ii) the Agent bank’s prime rate (“base rate”) plus a margin. The applicable margin for each type of loan is measured based upon the Consolidated Leverage Ratio at the end of the prior fiscal quarter and ranges from 1.00% to 1.75% for LIBOR loans and 0% to 0.75% for base rate loans. In addition, the Company pays an unused commitment fee for the portion of the $420.0 million credit facility that is not used. These fees are based upon the Consolidated Leverage Ratio and range from 0.15% to 0.30%. As of December 31, 2016 and 2015, the applicable margins were 1.50% and 1.75% for LIBOR based loans, respectively, 0.50% and 0.75% for base rate loans, respectively and 0.25% and 0.30% for unused fees, respectively. Amounts borrowed under the Sweep Service Facility are based upon the MUFG Union Bank, N.A. base rate plus an applicable margin and an unused commitment fee for the portion of the $12.0 million facility not used. The applicable base rate margin and unused commitment fee rates for the Sweep Service Facility are the same as for the Amended Credit Facility. The following information relates to the lines of credit for each of the following periods: (dollar amounts in thousands) Year Ended December 31, 2016 2015 Maximum amount outstanding $ 239,820 $ 295,588 Average amount outstanding $ 214,446 $ 236,860 Weighted average interest rate, during the period 2.19 % 2.35 % Prime interest rate, end of period 3.75 % 3.50 % 4.03% Senior Notes Due in 2018 On April 21, 2011, the Company entered into a Note Purchase and Private Shelf Agreement (the “Note Purchase Agreement”) with Prudential Investment Management, Inc. (“PIM”), The Prudential Insurance Company of America and Prudential Retirement Insurance and Annuity Company (collectively, the “Purchaser”), pursuant to which the Company agreed to sell an aggregate principal amount of $100.0 million of its 4.03% Series A Senior Notes (the “Series A Senior Notes”) to the Purchaser. The Series A Senior Notes are an unsecured obligation of the Company, due on April 21, 2018. Interest on these notes is due semi-annually in arrears and the principal is due in five equal annual installments, with the first payment due on April 21, 2014. At December 31, 2016 and 2015, the principal balance outstanding under the Series A Senior Notes were $40.0 million and $60.0 million, respectively. 3.68% Senior Notes Due in 2021 On March 17, 2014, the Company issued and sold to the Purchasers a $40.0 million aggregate principal amount of its 3.68% Series B Senior Notes (the “Series B Senior Notes”) pursuant to the terms of the Note Purchase Agreement, as amended. The Series B Senior Notes are an unsecured obligation of the Company, bear interest at a rate of 3.68% per annum and mature on March 17, 2021. Interest on the Series B Senior 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 Series B Senior Notes were used for working capital and other general corporate purposes. At December 31, 2016, the principal balance outstanding under the Series B Senior Notes was $40.0 million. 3.84% Senior Notes Due in 2022 On November 5, 2015, the Company issued and sold to the Purchasers a $60.0 million aggregate principal amount of its 3.84% Series C Senior Notes (the “Series C Senior Notes”) pursuant to the terms of the Note Purchase Agreement, as amended. The Series C Senior Notes are an unsecured obligation of the Company, bear interest at a rate of 3.84% per annum and mature on November 5, 2022. Interest on the Series C Senior Notes is payable semi-annually beginning on May 5, 2016 and continuing thereafter on November 5 and May 5 of each year until maturity. The full net proceeds from the Series C Senior Notes were used to reduce the outstanding balance on the Company’s revolving credit line. At December 31, 2016, the principal balance outstanding under the Series C Senior Notes was $60.0 million. Among other restrictions, the Note Purchase Agreement, under which the Series A Senior Notes, Series B Senior Notes and Series C Senior Notes were sold, contains financial covenants requiring the Company to not (all defined terms used below not otherwise defined herein have the meaning assigned to such terms in the Note Purchase Agreement): • Permit the Consolidated Fixed Charge Coverage Ratio of EBITDA to fixed charges as of the end of any fiscal quarter to be less than 2.50 to 1. At December 31, 2016, the actual ratio was 3.74 to 1. • Permit the Consolidated Leverage Ratio of funded debt to EBITDA at any time during any period of four consecutive quarters to be greater than 2.75 to 1. At December 31, 2016, the actual ratio was 2.00 to 1. • Permit Tangible Net Worth, calculated as of the last day of each fiscal quarter, to be less than the sum of (i) $229.0 million, plus (ii) 25% of net income for such fiscal quarter subsequent to December 31, 2010, plus (iii) 90% of the net cash proceeds from the issuance of the Company’s capital stock after December 31, 2010. At December 31, 2016, such sum was $313.3 million and the actual Tangible Net Worth of the Company was $357.9 million. At December 31, 2016, the Company was in compliance with each of the aforementioned covenants. There are no anticipated trends that the Company is aware of that would indicate non-compliance with these covenants, though, significant deterioration in the Company’s financial performance could impact its ability to comply with these covenants. On February 9, 2016, the Company entered into an amendment to the Note Purchase Agreement (“2016 Amendment”) with the Purchaser. Pursuant to the 2016 Amendment, (i) the issuance period for the shelf notes to be issued and sold pursuant to the Note Purchase Agreement is extended until the earlier of February 9, 2019 or the termination of the issuance and sale of the shelf notes upon the 30 days’ prior notice of either PIM or the Company, and (ii) the definition of the “Available Facility Amount,” which is the aggregate amount of the shelf notes that may be authorized for purchase pursuant to the Note Purchase Agreement was amended to equal a formula based on: $250 million, minus the aggregate principal amount of the shelf notes then outstanding and purchased pursuant to the Note Purchase Agreement, minus the shelf notes accepted by the Company for purchase, but not yet purchased, by the Purchaser pursuant to the Note Purchase Agreement; provided, however, the aggregate amount of the shelf notes purchased by any corporation or other entity controlling, controlled by, or under common control with, PIM shall not exceed $200 million.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 4. INCOME TAXES Income before provision for income taxes consisted of the following: (in thousands) Year Ended December 31, 2016 2015 2014 U.S. $ 67,199 $ 66,889 $ 76,848 Foreign (268 ) (512 ) (287 ) $ 66,931 $ 66,377 $ 76,561 The provision for income taxes consisted of the following: (in thousands) Year Ended December 31, 2016 2015 2014 Current: U.S. Federal $ 17,203 $ 7,976 $ 7,494 State 2,049 1,851 2,139 Foreign 1,683 1,645 1,572 20,935 11,472 11,205 Deferred: U.S. Federal 4,005 13,201 17,986 State 3,039 1,538 1,927 Foreign 701 (304 ) (266 ) 7,745 14,435 19,647 Total $ 28,680 $ 25,907 $ 30,852 The reconciliation of the U.S. federal statutory tax rate to the Company’s effective tax rate is as follows: Year Ended December 31, 2016 2015 2014 U.S. federal statutory rate 35.0 % 35.0 % 35.0 % State taxes, net of federal benefit 4.2 4.2 4.1 State deferred tax rate change, net of federal benefit 2.0 (0.4 ) 0.1 Valuation allowance 1.1 — — Other 0.6 0.2 1.1 42.9 % 39.0 % 40.3 % The following table shows the deferred income taxes related to the temporary differences between the tax bases of assets and liabilities and the respective amounts included in “Deferred income taxes, net” on the Company’s Consolidated Balance Sheets: (in thousands) December 31, 2016 2015 Deferred tax liabilities: Accelerated depreciation $ 293,141 $ 286,618 Prepaid costs currently deductible 6,572 6,997 Other 5,747 5,034 Total deferred tax liabilities 305,460 298,649 Deferred tax assets: Accrued costs not yet deductible 9,785 8,638 Allowance for doubtful accounts 809 804 Net operating loss carry forwards — 577 Deferred revenues 965 1,945 Share-based compensation 1,882 3,334 Total deferred tax assets, net of valuation allowance of $0.7 million in 2016 13,441 15,298 Deferred income taxes, net $ 292,019 $ 283,351 In December 2016, the Company decided to exit the Bangalore, India branch operations of its TRS-RenTelco electronics division. The wind down of operations in India will begin in 2017. As a result, a valuation allowance of $0.7 million was recorded against the deferred tax assets that resulted primarily from accumulated net operating loss carry forwards in India as of December 31, 2016 that management estimated the benefit of which will not be realized. There were no valuation allowances recorded as of December 31, 2015. In 2016 and 2015 exercises of non-qualified stock options by employees resulted in a tax shortfall of $1.1 million and $0.3 million, respectively. In 2014 exercises of non-qualified stock options by employees resulted in an excess tax benefit of $1.8 million. The net tax benefit was recorded as common stock in conjunction with the proceeds received from the exercise of the stock options. A deferred U.S. tax liability has not been provided on the undistributed earnings of certain foreign subsidiaries because it is the Company’s intent to permanently reinvest such earnings. Undistributed earnings of foreign subsidiaries, which have been or are intended to be permanently reinvested, aggregated approximately $1.9 million as of December 31, 2016 and 2015. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company evaluated all of its tax positions for which the statute of limitations remained open and determined there were no material unrecognized tax benefits as of December 31, 2016 and 2015. In addition, there have been no material changes in unrecognized benefits during 2016, 2015 and 2014. The Company is subject to income taxes in the U.S. federal jurisdiction, and various states and foreign jurisdictions. Tax regulations within each jurisdiction are subject to interpretation of the related tax laws and regulations and require the application of significant judgment. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for the years before 2012. Our income tax returns are subject to examination by federal, state and foreign tax authorities. There may be differing interpretations of tax laws and regulations, and as a result, disputes may arise with these tax authorities involving the timing and amount of deductions and allocation of income. The Company recognizes interest and penalties related to unrecognized tax benefits in the provision for income taxes for all periods presented. Such interest and penalties were not significant for the years ended December 31, 2016, 2015 and 2014.

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Benefit Plans	NOTE 5. BENEFIT PLANS Stock Plans The Company adopted the 2016 Stock Incentive Plan (the “2016 Plan”), effective June 8, 2016, under which 2,000,000 shares of the common stock of the Company, plus the number of shares that remain available for grants of awards under the Company's 2007 Stock Option Plan (the “2007 Plan”) and become available as a result of forfeiture, termination, or expiration of awards previously granted under the 2007 Plan, were reserved for the grant of equity awards to its employees, directors and consultants. The equity awards have a maximum term of 7 years at an exercise price of not less than 100% of the fair market value of the Company's common stock on the date the equity award is granted. The 2016 Plan replaced the 2007 Plan. The 2016 Plan provides for the grant of awards in the form of stock options, stock appreciation rights, RSUs, the vesting of which may be performance-based or service-based, and other rights and benefits. Each RSU issued reduces the number of shares of the Company’s common stock available for grant under the 2007 Plan by two shares. There were no modifications to the 2016 Plan and no awards classified as liabilities in the year ended December 31, 2016. For the years ended December 31, 2016, 2015 and 2014, the share-based compensation expense was $3.1 million, $3.4 million and $3.9 million, respectively, before provision for income taxes. The Company recorded a tax benefit of approximately $1.2 million, $1.3 million and $1.5 million, respectively, related to the aforementioned share-based compensation expenses. There was no capitalized share-based compensation expense in the years ended December 31, 2016, 2015 and 2014. For the years ended December 31, 2016, 2015 and 2014, the share-based compensation expenses, net of taxes, reduced net income by $1.9 million, $2.1 million and $2.3 million, respectively, or $0.08, $0.08 and $0.09 per diluted share for the three years ended December 31, 2016, 2015 and 2014, respectively. Stock Options As of December 31, 2016, a cumulative total of 8,159,000 shares subject to options have been granted with exercise prices ranging from $3.47 to $39.19. Of these, options have been exercised for the purchase of 5,222,603 shares, while options for 1,351,962 shares have been terminated, and options for 1,584,435 shares with exercise prices ranging from $23.84 to $39.19 remained outstanding under the stock plans. These options vest over five years and expire seven years after grant. To date, no options have been issued to any of the Company’s non-employee advisors. As of December 31, 2016, 2,251,074 shares remained available for issuance of awards under the stock plans. A summary of the Company’s option activity and related information for the three years ended December 31, 2016 is as follows: Number of options Weighted- average price Weighted- average remaining contractual term (in years) Aggregate intrinsic value (in millions) Balance at December 31, 2013 1,772,062 $ 24.68 Options granted 203,600 32.79 Options exercised (612,682) 21.55 Options cancelled/forfeited/expired (19,220 ) 30.35 Balance at December 31, 2014 1,343,760 27.25 Options granted 456,200 31.69 Options exercised (270,650 ) 19.81 Options cancelled/forfeited/expired (118,660 ) 29.58 Balance at December 31, 2015 1,410,650 29.91 Options granted 881,800 25.26 Options exercised (368,085 ) 27.34 Options cancelled/forfeited/expired (339,930 ) 28.62 Balance at December 31, 2016 1,584,435 $ 28.14 6.20 $ 17.5 Exercisable at December 31, 2016 354,165 $ 30.85 4.70 $ 3.0 Expected to vest after December 31, 2016 1,107,243 $ 27.36 6.63 $ 13.1 The intrinsic value of stock options at any point in time is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company’s common stock. The aggregate intrinsic value of options exercised and sold under the Company’s stock option plans was $4.2 million, $5.7 million and $8.4 million for the years ended December 31, 2016, 2015 and 2014, respectively, determined as of the date of option exercise. As of December 31, 2016, there was approximately $5.7 million of total unrecognized compensation cost related to unvested share-based compensation option arrangements granted under the Company’s stock plans, which is expected to be recognized over a weighted-average period of 3.1 years. The following table indicates the options outstanding and options exercisable by exercise price with the weighted-average remaining contractual life for the options outstanding and the weighted-average exercise price at December 31, 2016: Options Outstanding Options Exercisable Exercise price Number outstanding at December Weighted- average remaining contractual life (Years) Weighted- average grant date value Number exercisable at December 31, 2016 Weighted- average grant date value $20 – 25 751,500 6.98 $ 24.60 3,780 $ 23.84 $25 – 30 171,920 4.08 $ 28.59 118,500 $ 28.93 $30 – 35 651,355 5.85 $ 32.06 231,005 $ 32.12 $35 – 40 9,600 6.41 $ 38.43 880 $ 36.62 $20 – 40 1,584,375 6.20 $ 28.14 354,165 $ 30.78 The Company utilizes the Black-Scholes option-pricing model to estimate the fair value of share-based compensation at the date of grant, which requires the use of accounting judgment and financial estimates, including estimates of the expected term option holders will retain their vested stock options before exercising them, the estimated volatility of the Company’s stock price over the expected term and the expected number of options that will be forfeited prior to the completion of their vesting requirements. Application of alternative assumptions could produce significantly different estimates of the fair value of share-based compensation amounts recognized in the Consolidated Statements of Income. The fair value of each option granted was estimated on the date of grant using the Black-Scholes option-pricing model using the following weighted-average assumptions: Year Ended December 31, 2016 2015 2014 Expected term (in years) 5.0 5.0 5.0 Expected volatility 28.7 % 31.1 % 40.5 % Expected dividend yields 4.1 % 3.2 % 3.0 % Risk-free interest rates 1.2 % 1.6 % 1.5 % The Company monitors option exercise behavior to determine the appropriate homogenous groups for estimation purposes. Currently, the Company’s option activity is separated into two categories: directors and employees. The expected term of the options represents the estimated period of time until exercise and is based on historical experience, giving consideration to the option terms, vesting schedules and expectations of future behavior. Expected stock volatility is based on historical stock price volatility of the Company and the risk-free interest rates are based on U.S. Treasury yields in effect on the date of the option grant for the estimated period the options will be outstanding. The expected dividend yield is based upon the current dividend annualized as a percentage of the grant exercise price. The weighted average grant date fair value per share was $4.14, $6.60 and $9.17 during the years ended December 31, 2016, 2015 and 2014, respectively. Restricted Stock Units The following table summarizes the activity of the Company’s RSUs, which includes service-based and performance-based awards, for the three years ended December 31, 2016: Weighted- Aggregate average intrinsic Number grant Date value of shares fair value (in millions) Balance at December 31, 2013 320,980 $ 28.47 RSUs granted 118,864 30.85 RSUs vested (120,721 ) 27.30 RSUs cancelled/forfeited/expired (7,540 ) 30.34 Balance at December 31, 2014 311,583 29.78 RSUs granted 79,300 31.86 RSUs vested (89,915 ) 27.97 RSUs cancelled/forfeited/expired (80,320 ) 31.35 Balance at December 31, 2015 220,648 30.70 RSUs granted 31,900 25.75 RSUs vested (59,008 ) 29.69 RSUs cancelled/forfeited/expired (68,300 ) 29.33 Balance at December 31, 2016 125,240 $ 30.66 $ 4.9 Performance-based RSUs vest over five years, with 60% of the shares immediately vesting after three years when the performance criteria has been determined to have been met and 20% of the remaining shares vesting annually at the anniversary of the performance determination date, subject to continuous employment of the participant. There were 30,380 performance-based RSUs expected to vest as of December 31, 2016. Service-based RSUs have been issued to the Company’s directors and generally vest over twelve to fourteen months. There were 23,400 service-based RSUs expected to vest as of December 31, 2016. No forfeitures are currently expected. Share-based compensation expense for RSUs for the year ended December 31, 2016, 2015 and 2014 was $1.0 million, $1.7 million and $2.3, respectively. As of December 31, 2016, the total unrecognized compensation expense related to unvested RSUs was $0.6 million and is expected to be recognized over a weighted-average period of 2.3 years. Employee Stock Ownership and 401(k) Plans The McGrath RentCorp Employee Stock Ownership and 401(k) Plan (the “KSOP”) provides that each participant may annually contribute an elected percentage of his or her salary, not to exceed the statutory limit. The Company, at its discretion, may make matching contributions. Contributions are expensed in the year approved by the Board of Directors. Dividends on the Company’s stock held by the KSOP are treated as ordinary dividends and, in accordance with existing tax laws, are deducted by the Company in the year paid. For the year ended December 31, 2016 dividends deducted by the Company were $0.4 million, which resulted in a tax benefit of approximately $0.1 million in 2016. At December 31, 2016, the KSOP held 335,334 shares, or less than 2% of the Company’s total common shares outstanding. These shares are included in basic and diluted earnings per share calculations.

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Shareholders' Equity	NOTE 6. SHAREHOLDERS’ EQUITY 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, through privately negotiated, large block transactions and through a share repurchase plan, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. In August 2015, the Company’s Board of Directors authorized the Company to repurchase an additional 2,000,000 shares of the Company's outstanding common stock. The amount and time of the specific repurchases are subject to prevailing market conditions, applicable legal requirements and other factors, including management’s discretion. All shares repurchased by the Company are canceled and returned to the status of authorized but unissued shares of common stock. There can be no assurance that any authorized shares will be repurchased and the repurchase program may be modified, extended or terminated by the board of directors at any time. During the twelve months ended December 31, 2015, the Company repurchased 2,407,974 shares of common stock for an aggregate repurchase price of $64.0 million, or an average price of $26.56 per share. There were no repurchases of common stock during the twelve months ended December 31, 2016. As of December 31, 2016, 1,592,026 shares remain authorized for repurchase under this authorization.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 7. COMMITMENTS AND CONTINGENCIES The Company leases certain facilities under various operating leases. Most of the lease agreements provide the Company with the option of renewing its lease at the end of the lease term, at the fair rental value. In most cases, management expects that in the normal course of business, facility leases will be renewed or replaced by other leases. Minimum payments under these leases, exclusive of property taxes and insurance, are as follows: (in thousands) Year Ended December 31, 2017 $ 1,550 2018 1,148 2019 276 2020 14 2021 14 Thereafter — $ 3,002 Rent expense was $3.5 million, $3.5 million and $3.4 million in 2016, 2015 and 2014, respectively. The Company is involved in various lawsuits and routine claims arising out of the normal course of its business. The Company maintains insurance coverage for its operations and employees with appropriate aggregate, per occurrence and deductible limits as the Company reasonably determines necessary or prudent with current operations and historical experience. The major policies include coverage for property, general liability, auto, directors and officers, health, and workers’ compensation insurances. The Company records a provision for a liability when it believes that it is both probable that a liability has been incurred and the amount can be reasonably estimated. Significant judgment is required to determine both probability and the estimated amount. The Company reviews these provisions at least quarterly and adjusts these provisions to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and updated information. Litigation is inherently unpredictable and is subject to significant uncertainties, some of which are beyond the Company’s control. In the opinion of management, there was not at least a reasonable possibility that the ultimate amount of liability not covered by insurance, if any, under any pending litigation and claims, individually or in the aggregate, will have a material adverse effect on the financial position or operating results of the Company. The Company’s health and workers’ compensation plans are self-funded high deductible plans with annual stop-loss insurance of $150,000 and $250,000 per claim, respectively. Insurance providers are responsible for making claim payments that exceed these amounts on an individual claim basis. In addition, the Company has stop loss insurance that pays for claim payments made during a twelve month coverage period that exceeds certain specified thresholds in the aggregate. The Company records an expense when health and workers compensation claim payments are made and accrues for the portion of claims incurred, but not yet paid at period end. The Company makes these accruals based upon a combination of historical claim payments, loss development experience and actuarial estimates. A high degree of judgment is required in developing the underlying assumptions and the resulting amounts to be accrued. In addition, our assumptions will change as the Company’s loss experience develops. All of these factors have the potential for impacting the amounts previously accrued and the Company may be required to increase or decrease the amounts previously accrued. At December 31, 2016 and 2015, accruals for the Company’s health and workers’ compensation high deductible plans were $2.4 million and $1.9 million, respectively.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	NOTE 8. INTANGIBLE ASSETS Intangible assets consist of the following: (dollar amounts in thousands) Estimated useful life December 31, (In years) 2016 2015 Trade name Indefinite $ 5,700 $ 5,700 Customer relationships 11 9,611 9,611 15,311 15,311 Less accumulated amortization (6,716 ) (5,846 ) $ 8,595 $ 9,465 Intangible assets with finite useful lives are amortized over their respective useful lives. Amortization expense for the years ended December 31, 2016, 2015 and 2014 were $0.9 million, $0.9 million and $0.8 million, respectively. Based on the carrying values at December 31, 2016 and assuming no subsequent impairment of the underlying assets, the annual amortization is expected to be $0.9 million in 2017 through 2019 and $0.2 million in 2020.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 9. RELATED PARTY TRANSACTIONS There were no related party transactions in the years ended December 31, 2016 and 2015, or amounts owed to related parties at such dates.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment Reporting	NOTE 10. SEGMENT REPORTING FASB guidelines establish annual and interim reporting standards for an enterprise’s operating segments and related disclosures about its products, services, geographic areas and major customers. In accordance with these guidelines the Company’s four reportable segments are Mobile Modular, TRS-RenTelco, Adler Tanks and Enviroplex. Management focuses on several key measures to evaluate and assess each segment’s performance including rental revenue growth, gross margin, 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 amongst Mobile Modular, TRS-RenTelco and Adler Tanks based on their pro-rata share of average rental equipment at cost, goodwill, 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 years ended December 31, 2016, 2015 and 2014, for the Company’s reportable segments is shown in the following tables: Segment Data (dollar amounts in thousands) Mobile Modular TRS- RenTelco Adler Tanks Enviroplex 1 Consolidated Year Ended December 31, 2016 Rental revenues $ 130,496 $ 82,307 $ 58,585 $ — $ 271,388 Rental related services revenues 49,206 2,846 23,807 — 75,859 Sales and other revenues 29,810 23,464 1,438 22,121 76,833 Total revenues 209,512 108,617 83,830 22,121 424,080 Depreciation of rental equipment 21,001 35,256 15,940 — 72,197 Gross profit 93,816 45,797 37,409 7,145 184,167 Selling and administrative expenses 51,432 21,896 27,610 3,970 104,908 Income from operations 42,384 23,901 9,799 3,175 79,259 Interest expense (income) allocation (6,804 ) (2,465 ) (3,200 ) 262 (12,207 ) Income before provision for income taxes 35,580 21,315 6,599 3,437 66,931 Rental equipment acquisitions 43,099 30,505 1,030 — 74,634 Accounts receivable, net (period end) 55,916 19,506 16,150 5,305 96,877 Rental equipment, at cost (period end) 769,190 246,325 308,542 — 1,324,057 Rental equipment, net book value (period end) 544,421 90,172 221,778 — 856,371 Utilization (period end) 2 77.3 % 61.0 % 50.7 % Average utilization 2 76.6 % 60.6 % 50.1 % Segment Data (Continued) (dollar amounts in thousands) Mobile Modular TRS- RenTelco Adler Tanks Enviroplex 1 Consolidated Year Ended December 31, 2015 Rental revenues $ 115,986 $ 89,208 $ 68,502 $ — $ 273,696 Rental related services revenues 45,616 3,055 24,643 — 73,314 Sales and other revenues 22,682 22,754 1,486 10,612 57,534 Total revenues 184,284 115,017 94,631 10,612 404,544 Depreciation of rental equipment 19,246 39,974 15,993 — 75,213 Gross profit 78,771 47,836 47,397 2,903 176,907 Selling and administrative expenses 46,496 22,930 27,494 3,030 99,950 Income (loss) from operations 32,275 24,906 19,903 (127 ) 76,957 Interest expense (income) allocation (5,363 ) (2,194 ) (2,729 ) 194 (10,092 ) Income before provision for income taxes 26,912 22,224 17,174 67 66,377 Rental equipment acquisitions 79,622 44,316 9,440 — 133,378 Accounts receivable, net (period end) 53,550 21,784 17,955 1,728 95,017 Rental equipment, at cost (period end) 736,875 262,945 310,263 — 1,310,083 Rental equipment, net book value (period end) 529,483 102,191 237,927 — 869,601 Utilization (period end) 2 76.9 % 58.7 % 49.7 % Average utilization 2 75.8 % 60.5 % 58.3 % 2014 Rental revenues $ 96,457 $ 99,020 $ 74,098 $ — $ 269,575 Rental related services revenues 35,263 3,331 25,538 — 64,132 Sales and other revenues 29,855 25,951 1,152 17,457 74,415 Total revenues 161,575 128,302 100,788 17,457 408,122 Depreciation of rental equipment 16,536 40,935 15,207 — 72,678 Gross profit 63,455 60,249 53,452 5,063 182,219 Selling and administrative expenses 42,069 23,736 27,424 3,630 96,859 Income from operations 21,386 36,513 26,028 1,433 85,360 Interest expense (income) allocation 4,768 2,075 2,618 (181 ) 9,280 Income before provision for income taxes 16,959 34,383 23,605 1,614 76,561 Rental equipment acquisitions 82,792 45,158 20,652 — 148,602 Accounts receivable, net (period end) 46,659 28,849 21,031 4,617 101,156 Rental equipment, at cost (period end) 664,340 261,995 303,303 — 1,229,638 Rental equipment, net book value (period end) 473,960 105,729 246,061 — 825,750 Utilization (period end) 2 75.0 % 59.8 % 63.9 % Average utilization 2 72.3 % 60.4 % 62.9 % 1 Gross Enviroplex sales revenues were $22,206, $11,530 and $19,017 in 2016, 2015 and 2014, respectively, which includes inter-segment sales to Mobile Modular of $85, $918 and $1,560, 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 new equipment inventory and accessory equipment. 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 during 2016, 2015 and 2014. Revenue from foreign country customers accounted for 5% of the Company’s revenues for the same periods.

Quarterly Financial Information

Quarterly Financial Information	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	NOTE 11. QUARTERLY FINANCIAL INFORMATION (unaudited) Quarterly financial information for each of the two years ended December 31, 2016 is summarized below: (in thousands, except per share amounts) 2016 First Second Third Fourth Year Operations Data Rental revenues $ 66,532 $ 66,747 $ 67,757 $ 70,352 $ 271,388 Total revenues 93,699 103,105 121,993 105,283 424,080 Gross profit 40,655 43,756 50,433 49,323 184,167 Income from operations 14,258 18,073 24,232 22,696 79,259 Income before provision for income taxes 10,853 15,006 21,277 19,795 66,931 Net income 6,566 9,079 12,872 9,734 38,251 Earnings per share: Basic $ 0.28 $ 0.38 $ 0.54 $ 0.41 $ 1.60 Diluted $ 0.27 $ 0.38 $ 0.54 $ 0.40 $ 1.60 Dividends declared per share $ 0.255 $ 0.255 $ 0.255 $ 0.255 $ 1.02 Shares used in per share calculations: Basic 23,862 23,900 23,911 23,927 23,900 Diluted 23,911 23,949 24,041 24,123 23,976 Balance Sheet Data Rental equipment, net $ 867,215 $ 868,422 $ 862,528 $ 856,371 $ 856,371 Total assets 1,132,355 1,148,018 1,144,923 1,128,276 1,128,276 Notes payable 365,772 363,121 345,286 326,266 326,266 Shareholders’ equity 380,512 383,313 390,600 394,287 394,287 2015 First Second Third Fourth Year Operations Data Rental revenues $ 65,502 $ 67,305 $ 70,195 $ 70,694 $ 273,696 Total revenues 90,188 96,026 113,048 105,282 404,544 Gross profit 39,087 40,918 50,146 46,756 176,907 Income from operations 13,875 16,465 25,150 21,467 76,957 Income before provision for income taxes 11,316 14,033 22,505 18,523 66,377 Net income 6,846 8,490 13,616 11,518 40,470 Earnings per share: Basic $ 0.26 $ 0.33 $ 0.54 $ 0.48 $ 1.60 Diluted $ 0.26 $ 0.32 $ 0.54 $ 0.48 $ 1.59 Dividends declared per share $ 0.250 $ 0.250 $ 0.250 $ 0.250 $ 1.00 Shares used in per share calculations: Basic 26,091 26,142 25,334 23,932 25,369 Diluted 26,276 26,273 25,408 24,015 25,457 Balance Sheet Data Rental equipment, net $ 839,078 $ 856,489 $ 864,277 $ 869,601 $ 869,601 Total assets 1,112,056 1,132,750 1,149,095 1,152,549 1,152,549 Notes payable 320,923 337,177 382,113 381,281 381,281 Shareholders’ equity 425,848 426,823 389,464 379,687 379,687

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Organization	Organization McGrath RentCorp and its wholly-owned subsidiaries (the “Company”) is a California corporation organized in 1979. The Company is a diversified business to business rental company with four rental divisions; relocatable modular buildings, portable storage containers, electronic test equipment and liquid and solid containment tanks and boxes. Although the Company’s primary emphasis is on equipment rentals, sales of equipment occur in the normal course of business. The Company is comprised of four reportable business segments: modular building and portable storage segment (“Mobile Modular”), electronic test equipment segment (“TRS-RenTelco”), containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (“Adler Tanks”) and classroom manufacturing division selling modular classrooms in California (“Enviroplex”).
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of McGrath RentCorp and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Revenue Recognition	Revenue Recognition Rental revenue from operating leases is recognized on a straight-line basis over the term of the lease. Rental billings for periods extending beyond period end are recorded as deferred income and are recognized when earned. Rental related services revenue is primarily associated with relocatable modular building and liquid and solid containment tanks and boxes leases. For modular building leases, rental related services revenue consists of billings to customers for modifications, delivery, installation, additional site-related work, and dismantle and return delivery. For modular building leases, revenue related to delivery, installation, dismantle and return delivery are an integral part of the negotiated lease agreement with customers and are recognized on a straight-line basis over the term of the lease. For liquid and solid containment solutions, rental related services revenue consists of billings for delivery, removal and cleaning of the tanks and boxes. These revenues are recognized in the period performed. Sales revenue is recognized upon delivery and installation of the equipment to customers. Certain leases are accounted for as sales-type leases. For these leases, sales revenue and the related accounts receivable are recognized upon delivery and installation of the equipment and the unearned interest is recognized over the lease term on a basis which results in a constant rate of return on the unrecovered lease investment. Other revenue is recognized when earned and primarily includes interest income on sales-type leases, rental income on facility rentals and certain logistics services. Sales taxes charged to customers are reported on a net basis and are excluded from revenues and expenses.
Depreciation of Rental Equipment	Depreciation of Rental Equipment Rental equipment is depreciated on a straight-line basis for financial reporting purposes and on an accelerated basis for income tax purposes. The costs of major refurbishment of relocatable modular buildings and portable storage containers are capitalized to the extent the refurbishment significantly adds value to, or extends the life of the equipment. Maintenance and repairs are expensed as incurred. The estimated useful lives and residual values of the Company’s rental equipment used for financial reporting purposes are as follows: Relocatable modular buildings 18 years, 50% residual value Relocatable modular accessories 3 to 18 years, no residual value Portable storage containers 25 years, 62.5% residual value Electronic test equipment and accessories 1 to 8 years, no residual value Liquid and solid containment tanks and boxes and accessories 10 to 20 years, no residual value
Costs of Rental Related Services	Costs of Rental Related Services Costs of rental related services are primarily associated with relocatable modular building leases and liquid and solid containment tank and boxes. Modular building leases consist of costs for services to be provided under the negotiated lease agreement for delivery, installation, modifications, skirting, additional site-related work, and dismantle and return delivery. Costs related to these services are recognized on a straight-line basis over the term of the lease. Costs of rental related services associated with liquid and solid containment solutions consists of costs of delivery, removal and cleaning of the tanks and boxes. These costs are recognized in the period the service is performed.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company evaluates the carrying value of rental equipment and identifiable definite lived intangible assets for impairment whenever events or circumstances have occurred that would indicate the carrying amount may not be fully recoverable. A key element in determining the recoverability of long-lived assets is the Company’s outlook as to the future market conditions for its rental equipment. If the carrying amount is not fully recoverable, an impairment loss is recognized to reduce the carrying amount to fair value. The Company determines fair value based upon the condition of the rental equipment and the projected net cash flows from its rental and sale considering current market conditions. Goodwill and identifiable indefinite lived assets are evaluated for potential impairment annually or when circumstances indicate potential impairment may have occurred. Impairment losses, if any, are determined based upon the excess of carrying value over the estimated fair value of the asset. There were no impairments of long-lived assets during the years ended December 31, 2016, 2015 and 2014.
Other Direct Costs of Rental Operations	Other Direct Costs of Rental Operations Other direct costs of rental operations include direct labor, supplies, repairs, insurance, property taxes, license fees and certain modular lease costs charged to customers in the negotiated rental rate, which are recognized on a straight-line basis over the term of the lease.
Cost of Sales	Cost of Sales Cost of sales in the Consolidated Statements of Income includes the carrying value of the equipment sold and all direct costs associated with the sale.
Warranty Reserves	Warranty Reserves Sales of new relocatable modular buildings, portable storage containers, electronic test equipment and related accessories and liquid and solid containment tanks and boxes not manufactured by the Company are typically covered by warranties provided by the manufacturer of the products sold. The Company typically provides limited 90-day warranties for certain sales of used rental equipment and one-year warranties on equipment manufactured by Enviroplex. Although the Company’s policy is to provide reserves for warranties when required for specific circumstances, the Company has not found it necessary to establish such reserves to date as warranty costs have not been significant.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation is recognized on a straight-line basis for financial reporting purposes, and on an accelerated basis for income tax purposes. Depreciation expenses for property, plant and equipment is included in “Selling and administrative expenses” and “Rental related services” in the Consolidated Statements of Income. Maintenance and repairs are expensed as incurred. Property, plant and equipment consist of the following: (dollar amounts in thousands) Estimated useful life December 31, in years 2016 2015 Land Indefinite $ 45,928 $ 40,378 Land improvements 20 – 50 42,677 42,004 Buildings 30 26,105 25,520 Furniture, office and computer equipment 3 – 10 35,215 34,053 Machinery and service equipment 5 – 25 30,416 28,642 180,341 170,597 Less accumulated depreciation (68,854 ) (61,410 ) 111,487 109,187 Construction in progress 703 566 $ 112,190 $ 109,753 Property, plant and equipment depreciation expense was $8.1 million, $8.2 million and $7.6 million for the years ended December 31, 2016, 2015 and 2014, respectively. Construction in progress at December 31, 2016 and 2015 consisted primarily of costs related to acquisition of land and land improvements and information technology upgrades.
Capitalized Software Costs	Capitalized Software Costs The Company capitalizes certain development costs incurred in connection with its internal use software. Costs incurred in the preliminary stages of development are expensed as incurred. Once an application has reached the development stage, direct internal and external costs are capitalized until the software is substantially complete and ready for its intended use. These costs generally include external direct costs of materials and services consumed in the project and internal costs, such as payroll and benefits of those employees directly associated with the development of the software. Maintenance and training costs are expensed as incurred. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional functionality. Capitalized software costs are included in property, plant and equipment. The Company capitalized $0.2 million and $0.6 million in internal use software during the years ended December 31, 2016 and 2015, respectively.
Advertising Costs	Advertising Costs Advertising costs are expensed as incurred. Total advertising expenses were $2.9 million, $2.8 million and $2.4 million for the years ended December 31, 2016, 2015 and 2014.
Income Taxes	Income Taxes Income taxes are accounted for using an asset and liability approach. Deferred tax assets and liabilities are recorded for the effect of temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements. Deferred tax assets and deferred tax liabilities are adjusted to the extent necessary to reflect tax rates expected to be in effect when temporary differences reverse. Adjustments may be required to deferred tax assets and deferred tax liabilities due to changes in tax laws and audit adjustments by tax authorities. A valuation allowance would be established if, based on the weight of available evidence, management believes that it is more likely than not that some portion or all of a recorded deferred tax asset would not be realized in future periods. To the extent adjustments are required in any given period, the adjustments would be included within the tax provision in the Consolidated Statements of Income.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Purchase prices of acquired businesses have been allocated to the assets and liabilities acquired based on the estimated fair values on the respective acquisition dates. Based on these values, the excess purchase prices over the fair value of the net assets acquired were allocated to goodwill and other intangible assets. Intangible assets related to customer relationships are amortized over eleven years. At December 31, 2016 and 2015, goodwill and trade name intangible assets which have indefinite lives totaled $33.5 million. 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 would be recognized as 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 impairment review of the Company’s goodwill and indefinite lived assets is performed by first assessing qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. In the first step, the fair value of the reporting unit is compared to its carrying value to determine if the goodwill and intangible assets are impaired. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that unit, then goodwill and intangible assets are not impaired and no further testing is required. If the carrying value of the net assets assigned to the reporting unit were to exceed its fair value, then the second step is performed in order to determine the implied fair value of the reporting unit’s goodwill and intangible assets and an impairment loss is recorded for an amount equal to the difference between the implied fair value and the carrying value of the goodwill and intangible assets. The Company conducted 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 years ended 2016, 2015 or 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.
Earnings Per Share	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 effects of stock options, unvested restricted stock awards and other potentially dilutive securities. The table below presents the weighted-average common stock used to calculate basic and diluted earnings per share: (in thousands) Year Ended December 31, 2016 2015 2014 Weighted-average common stock for calculating basic earnings per share 23,900 25,369 25,914 Effect of potentially dilutive securities from equity-based compensation 76 88 261 Weighted-average common stock for calculating diluted earnings per share 23,976 25,457 26,175 The following securities were not included in the computation of diluted earnings per share as their effect would have been anti-dilutive: (in thousands) Year Ended December 31, 2016 2015 2014 Options to purchase common stock 661 746 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, through privately negotiated, large block transactions and through a share repurchase plan, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. In August 2015, the Company’s Board of Directors authorized the Company to repurchase an additional 2,000,000 shares of the Company's outstanding common stock. The amount and time of the specific repurchases are subject to prevailing market conditions, applicable legal requirements and other factors, including management’s discretion. All shares repurchased by the Company are canceled and returned to the status of authorized but unissued shares of common stock. There can be no assurance that any authorized shares will be repurchased and the repurchase program may be modified, extended or terminated by the Board of Directors at any time. The following table presents share repurchase activities during the years ended December 31, 2016 and 2015: Year ended December 31 (in thousands, except share and per share amounts) 2016 2015 Number of shares repurchased — 2,407,974 Aggregate purchase price — 63,953 Average price per repurchased shares — 26.56 As of December 31, 2016, 1,592,026 shares remain authorized for repurchase.
Accounts Receivable and Concentration of Credit Risk	Accounts Receivable and Concentration of Credit Risk The Company’s accounts receivable consist of amounts due from customers for rentals, sales, financed sales and unbilled amounts for the portion of modular building end-of-lease services earned, which were negotiated as part of the lease agreement. Unbilled receivables related to end-of-lease services, which consists of dismantle and return delivery of buildings, were $28.1 million at December 31, 2016 and $25.0 million at December 31, 2015. The Company sells primarily on 30-day terms, individually performs credit evaluation procedures on its customers on each transaction and will require security deposits from its customers when a significant credit risk is identified. The Company records an allowance for doubtful accounts in amounts equal to the estimated losses expected to be incurred in the collection of the accounts receivable. The estimated losses are based on historical collection experience in conjunction with an evaluation of the current status of the existing accounts. Customer accounts are written off against the allowance for doubtful accounts when an account is determined to be uncollectable. The allowance for doubtful accounts activity was as follows: (in thousands) 2016 2015 Beginning balance, January 1 $ 2,087 $ 2,038 Provision for doubtful accounts 1,892 2,149 Write-offs, net of recoveries (1,892 ) (2,100 ) Ending balance, December 31 $ 2,087 $ 2,087 Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of trade accounts receivable. From time to time, the Company maintains cash balances in excess of the Federal Deposit Insurance Corporation limits.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company believes that the carrying amounts for cash, accounts receivable, accounts payable and notes payable approximate their fair values except for fixed rate debt included in notes payable which has an estimated fair value of $140.7 million and $160.6 million compared to the recorded value of $140.0 million and $160.0 million as of December 31, 2016 and 2015, respectively. The estimates of fair value of the Company’s fixed rate debt are based on the borrowing rates currently available to the Company for bank loans with similar terms and average maturities.
Foreign Currency Transactions and Translation	Foreign Currency Transactions and Translation The Company's Canadian subsidiary, TRS-RenTelco Inc., a British Columbia corporation (“TRS-Canada”), functions as a branch sales office for TRS-RenTelco in Canada. The functional currency for TRS-Canada is the U.S. dollar. Foreign currency transaction gains and losses of TRS-Canada are reported in the results of operations in the period in which they occur. The Company’s Indian subsidiary, TRS-RenTelco India Private Limited (“TRS-India”), functions as a rental and sales office for TRS-RenTelco in India. The functional currency for TRS-India is the Indian Rupee. All assets and liabilities of TRS-India are translated into U.S. dollars at period-end exchange rates and all income statement amounts are translated at the average exchange rate for each month within the year. Currently, the Company does not use derivative instruments to hedge its economic exposure with respect to assets, liabilities and firm commitments as the foreign currency transactions and risks to date have not been significant.
Share-Based Compensation	Share-Based Compensation The Company measures and recognizes the compensation expense for all share-based awards made to employees and directors, including stock options, stock appreciation rights (“SARs”) and restricted stock units (“RSUs”), based upon estimated fair values. The fair value of stock options and SARs is estimated on the date of grant using the Black-Scholes option pricing model and for RSUs based upon the fair market value of the underlying shares of common stock as of the date of grant. The Company recognizes share-based compensation cost ratably on a straight-line basis over the requisite service period, which generally equals the vesting period. For performance-based RSUs, compensation costs are recognized when vesting conditions are met. In addition, the Company estimates the probable number of shares of common stock that will be earned and the corresponding compensation cost until the achievement of the performance goal is known. The Company records share-based compensation costs in “Selling and administrative expenses” in the Consolidated Statements of Income. The Company recognizes a benefit from share-based compensation in the Consolidated Statements of Shareholders’ Equity if an incremental tax benefit is realized. Further information regarding share-based compensation can be found in “Note 5 –Benefit Plans”.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions in determining reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during each period presented. Actual results could differ from those estimates. The most significant estimates included in the financial statements are the future cash flows and fair values used to determine the recoverability of the rental equipment and identifiable definite lived intangible assets carrying value, the various assets’ useful lives and residual values, and the allowance for doubtful accounts.
Reclassification	Reclassification In order to conform to current year presentation, certain prior year amounts on the Consolidated Balance Sheet were reclassified from “Accounts receivable” to “Prepaid expenses and other assets” and debt issuance cost from “Prepaid expenses and other assets” to “Notes payable”. The reclassifications had no impact on net income, earnings per share or operating cash flows.
New Accounting Pronouncements	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 FASB has continued to issue ASUs to clarify and provide implementation guidance related to Revenue from Contracts with Customers, including ASU 2016-08 , Revenue from Contract with Customers: Principal versus Agent Considerations , ASU 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing , ASU 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients and ASU 2016-20, Revenue from Contracts with Customers: Technical Correction and Improvements. These amendments address a number of areas, including the entity’s identification of its performance obligations in a contract, collectability, non-cash consideration, presentation of sales tax and an entity’s evaluation of the nature of its promise to grant a license of intellectual property and whether or not that revenue is recognized over time or at a point in time. In February 2016, the FASB issued ASU No. 2016-02, Leases (Subtopic 842-10). Under the new guidance, lessees will be required to recognize the following for all leases (with the exception of short-term leases) on the commencement date: a) lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718). Under the new guidance, all excess tax benefits and tax deficiencies will be recognized in the income statement as they occur. This will replace the current guidance, which requires tax benefits that exceed compensation cost (windfalls) to be recognized in equity, and tax deficiencies (shortfalls) to be recognized in equity to the extent of previously recognized windfalls. It will also eliminate the need to maintain a “windfall pool,” and will remove the requirement to delay recognizing a windfall until it reduces current taxes payable. The new guidance will also change the cash flow presentation of excess tax benefits, classifying them as operating inflows, consistent with other cash flows related to income taxes. The amendments in this guidance are effective for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. The adoption of this guidance is not expected to have a material impact on the Company’s financial position or results of operations. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts. This update addresses eight specific cash flow issues with the objective of reducing the existing diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments in this guidance are effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. The Company is evaluating the impact of the adoption of this guidance on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-01, Business Combination (Topic 805): Clarifying the Definition of a Business. The amendments in this update provide a screen to determine when an integrated set of assets and activities is not a business. The amendments in this guidance are effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The adoption of this guidance is not expected to have a material impact on the Company’s financial position or results of operations.
Income Tax Position	The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority.
Segment Reporting	FASB guidelines establish annual and interim reporting standards for an enterprise’s operating segments and related disclosures about its products, services, geographic areas and major customers. In accordance with these guidelines the Company’s four reportable segments are Mobile Modular, TRS-RenTelco, Adler Tanks and Enviroplex. Management focuses on several key measures to evaluate and assess each segment’s performance including rental revenue growth, gross margin, 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 amongst Mobile Modular, TRS-RenTelco and Adler Tanks based on their pro-rata share of average rental equipment at cost, goodwill, intangible assets, accounts receivable, deferred income and customer security deposits. The Company does not report total assets by business segment.

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Estimated Useful Lives and Residual Values of Company's Rental Equipment	The estimated useful lives and residual values of the Company’s rental equipment used for financial reporting purposes are as follows: Relocatable modular buildings 18 years, 50% residual value Relocatable modular accessories 3 to 18 years, no residual value Portable storage containers 25 years, 62.5% residual value Electronic test equipment and accessories 1 to 8 years, no residual value Liquid and solid containment tanks and boxes and accessories 10 to 20 years, no residual value
Property, Plant and Equipment	Property, plant and equipment consist of the following: (dollar amounts in thousands) Estimated useful life December 31, in years 2016 2015 Land Indefinite $ 45,928 $ 40,378 Land improvements 20 – 50 42,677 42,004 Buildings 30 26,105 25,520 Furniture, office and computer equipment 3 – 10 35,215 34,053 Machinery and service equipment 5 – 25 30,416 28,642 180,341 170,597 Less accumulated depreciation (68,854 ) (61,410 ) 111,487 109,187 Construction in progress 703 566 $ 112,190 $ 109,753
Weighted-Average Common Stock Used to Calculate Basic and Diluted Earnings per Share	The table below presents the weighted-average common stock used to calculate basic and diluted earnings per share: (in thousands) Year Ended December 31, 2016 2015 2014 Weighted-average common stock for calculating basic earnings per share 23,900 25,369 25,914 Effect of potentially dilutive securities from equity-based compensation 76 88 261 Weighted-average common stock for calculating diluted earnings per share 23,976 25,457 26,175
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: (in thousands) Year Ended December 31, 2016 2015 2014 Options to purchase common stock 661 746 9
Summary of Share Repurchase Activities	The following table presents share repurchase activities during the years ended December 31, 2016 and 2015: Year ended December 31 (in thousands, except share and per share amounts) 2016 2015 Number of shares repurchased — 2,407,974 Aggregate purchase price — 63,953 Average price per repurchased shares — 26.56
Summary of Allowance for Doubtful Accounts Activity	The allowance for doubtful accounts activity was as follows: (in thousands) 2016 2015 Beginning balance, January 1 $ 2,087 $ 2,038 Provision for doubtful accounts 1,892 2,149 Write-offs, net of recoveries (1,892 ) (2,100 ) Ending balance, December 31 $ 2,087 $ 2,087

Financed Lease Receivables (Tab

Financed Lease Receivables (Tables)	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Minimum Lease Payments Receivable and Net Investment Included in Accounts Receivable for Leases	The minimum lease payments receivable and the net investment included in accounts receivable for such leases are as follows: (in thousands) December 31, 2016 2015 Gross minimum lease payments receivable $ 3,252 $ 2,745 Less – unearned interest (301 ) (175 ) Net investment in sales type lease receivables $ 2,951 $ 2,570
Future Minimum Lease Payments under Non-Cancelable Sales-Type Leases	As of December 31, 2016, the future minimum lease payments under non-cancelable sales-type leases to be received in 2017 and thereafter are as follows: (in thousands) Year Ended December 31, 2017 $ 2,162 2018 605 2019 192 2020 192 2021 101 Total minimum future lease payments $ 3,252

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Components of Notes Payable	Notes payable consists of the following: (in thousands) December 31, 2016 2015 Unsecured revolving lines of credit $ 186,376 $ 221,441 4.03% Series A senior notes due in 2018 40,000 60,000 3.68% Series B senior notes due in 2021 40,000 40,000 3.84% Series C senior notes due in 2022 60,000 60,000 $ 326,376 $ 381,441
Schedule of Future Minimum Payments under Unsecured Revolving Lines of Credit and 4.03% Senior Notes, 3.68% Senior Notes and 3.84% Senior Notes	As of December 31, 2016, the future minimum payments under the unsecured revolving lines of credit, 4.03% Series A senior notes due in 2018, 3.68% Series B senior notes due in 2021 and 3.84% Series C senior notes due in 2022 are as follows: (in thousands) Year Ended December 31, 2017 $ 20,000 2018 20,000 2019 — 2020 — 2021 226,376 2022 and thereafter 60,000 $ 326,376
Schedule of Information Related to Lines of Credit	The following information relates to the lines of credit for each of the following periods: (dollar amounts in thousands) Year Ended December 31, 2016 2015 Maximum amount outstanding $ 239,820 $ 295,588 Average amount outstanding $ 214,446 $ 236,860 Weighted average interest rate, during the period 2.19 % 2.35 % Prime interest rate, end of period 3.75 % 3.50 %

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Income Before Provision For Income Taxes	Income before provision for income taxes consisted of the following: (in thousands) Year Ended December 31, 2016 2015 2014 U.S. $ 67,199 $ 66,889 $ 76,848 Foreign (268 ) (512 ) (287 ) $ 66,931 $ 66,377 $ 76,561
Provision for Income Taxes	The provision for income taxes consisted of the following: (in thousands) Year Ended December 31, 2016 2015 2014 Current: U.S. Federal $ 17,203 $ 7,976 $ 7,494 State 2,049 1,851 2,139 Foreign 1,683 1,645 1,572 20,935 11,472 11,205 Deferred: U.S. Federal 4,005 13,201 17,986 State 3,039 1,538 1,927 Foreign 701 (304 ) (266 ) 7,745 14,435 19,647 Total $ 28,680 $ 25,907 $ 30,852
Reconciliation of U.S. Federal Statutory Tax Rate to Company's Effective Tax Rate	The reconciliation of the U.S. federal statutory tax rate to the Company’s effective tax rate is as follows: Year Ended December 31, 2016 2015 2014 U.S. federal statutory rate 35.0 % 35.0 % 35.0 % State taxes, net of federal benefit 4.2 4.2 4.1 State deferred tax rate change, net of federal benefit 2.0 (0.4 ) 0.1 Valuation allowance 1.1 — — Other 0.6 0.2 1.1 42.9 % 39.0 % 40.3 %
Deferred Income Taxes Related to Temporary Differences between Tax Bases of Assets and Liabilities	The following table shows the deferred income taxes related to the temporary differences between the tax bases of assets and liabilities and the respective amounts included in “Deferred income taxes, net” on the Company’s Consolidated Balance Sheets: (in thousands) December 31, 2016 2015 Deferred tax liabilities: Accelerated depreciation $ 293,141 $ 286,618 Prepaid costs currently deductible 6,572 6,997 Other 5,747 5,034 Total deferred tax liabilities 305,460 298,649 Deferred tax assets: Accrued costs not yet deductible 9,785 8,638 Allowance for doubtful accounts 809 804 Net operating loss carry forwards — 577 Deferred revenues 965 1,945 Share-based compensation 1,882 3,334 Total deferred tax assets, net of valuation allowance of $0.7 million in 2016 13,441 15,298 Deferred income taxes, net $ 292,019 $ 283,351

Benefit Plans (Tables)

Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Company's Option Activity	A summary of the Company’s option activity and related information for the three years ended December 31, 2016 is as follows: Number of options Weighted- average price Weighted- average remaining contractual term (in years) Aggregate intrinsic value (in millions) Balance at December 31, 2013 1,772,062 $ 24.68 Options granted 203,600 32.79 Options exercised (612,682) 21.55 Options cancelled/forfeited/expired (19,220 ) 30.35 Balance at December 31, 2014 1,343,760 27.25 Options granted 456,200 31.69 Options exercised (270,650 ) 19.81 Options cancelled/forfeited/expired (118,660 ) 29.58 Balance at December 31, 2015 1,410,650 29.91 Options granted 881,800 25.26 Options exercised (368,085 ) 27.34 Options cancelled/forfeited/expired (339,930 ) 28.62 Balance at December 31, 2016 1,584,435 $ 28.14 6.20 $ 17.5 Exercisable at December 31, 2016 354,165 $ 30.85 4.70 $ 3.0 Expected to vest after December 31, 2016 1,107,243 $ 27.36 6.63 $ 13.1
Options Outstanding and Options Exercisable by Exercise Price with Weighted-Average Remaining Contractual Life for Options Outstanding and Weighted-Average Exercise Price	The following table indicates the options outstanding and options exercisable by exercise price with the weighted-average remaining contractual life for the options outstanding and the weighted-average exercise price at December 31, 2016: Options Outstanding Options Exercisable Exercise price Number outstanding at December Weighted- average remaining contractual life (Years) Weighted- average grant date value Number exercisable at December 31, 2016 Weighted- average grant date value $20 – 25 751,500 6.98 $ 24.60 3,780 $ 23.84 $25 – 30 171,920 4.08 $ 28.59 118,500 $ 28.93 $30 – 35 651,355 5.85 $ 32.06 231,005 $ 32.12 $35 – 40 9,600 6.41 $ 38.43 880 $ 36.62 $20 – 40 1,584,375 6.20 $ 28.14 354,165 $ 30.78
Schedule of Weighted-Average Assumptions Used to Determine Fair Value of Option Granted	The fair value of each option granted was estimated on the date of grant using the Black-Scholes option-pricing model using the following weighted-average assumptions: Year Ended December 31, 2016 2015 2014 Expected term (in years) 5.0 5.0 5.0 Expected volatility 28.7 % 31.1 % 40.5 % Expected dividend yields 4.1 % 3.2 % 3.0 % Risk-free interest rates 1.2 % 1.6 % 1.5 %
Summary of Company's Restricted Stock Units Activity	The following table summarizes the activity of the Company’s RSUs, which includes service-based and performance-based awards, for the three years ended December 31, 2016: Weighted- Aggregate average intrinsic Number grant Date value of shares fair value (in millions) Balance at December 31, 2013 320,980 $ 28.47 RSUs granted 118,864 30.85 RSUs vested (120,721 ) 27.30 RSUs cancelled/forfeited/expired (7,540 ) 30.34 Balance at December 31, 2014 311,583 29.78 RSUs granted 79,300 31.86 RSUs vested (89,915 ) 27.97 RSUs cancelled/forfeited/expired (80,320 ) 31.35 Balance at December 31, 2015 220,648 30.70 RSUs granted 31,900 25.75 RSUs vested (59,008 ) 29.69 RSUs cancelled/forfeited/expired (68,300 ) 29.33 Balance at December 31, 2016 125,240 $ 30.66 $ 4.9

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Minimum Payments under Leases, Exclusive of Property Taxes and Insurance	Minimum payments under these leases, exclusive of property taxes and insurance, are as follows: (in thousands) Year Ended December 31, 2017 $ 1,550 2018 1,148 2019 276 2020 14 2021 14 Thereafter — $ 3,002

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	Intangible assets consist of the following: (dollar amounts in thousands) Estimated useful life December 31, (In years) 2016 2015 Trade name Indefinite $ 5,700 $ 5,700 Customer relationships 11 9,611 9,611 15,311 15,311 Less accumulated amortization (6,716 ) (5,846 ) $ 8,595 $ 9,465

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Summarized Financial Information for Company's Reportable Segments	Summarized financial information for the years ended December 31, 2016, 2015 and 2014, for the Company’s reportable segments is shown in the following tables: Segment Data (dollar amounts in thousands) Mobile Modular TRS- RenTelco Adler Tanks Enviroplex 1 Consolidated Year Ended December 31, 2016 Rental revenues $ 130,496 $ 82,307 $ 58,585 $ — $ 271,388 Rental related services revenues 49,206 2,846 23,807 — 75,859 Sales and other revenues 29,810 23,464 1,438 22,121 76,833 Total revenues 209,512 108,617 83,830 22,121 424,080 Depreciation of rental equipment 21,001 35,256 15,940 — 72,197 Gross profit 93,816 45,797 37,409 7,145 184,167 Selling and administrative expenses 51,432 21,896 27,610 3,970 104,908 Income from operations 42,384 23,901 9,799 3,175 79,259 Interest expense (income) allocation (6,804 ) (2,465 ) (3,200 ) 262 (12,207 ) Income before provision for income taxes 35,580 21,315 6,599 3,437 66,931 Rental equipment acquisitions 43,099 30,505 1,030 — 74,634 Accounts receivable, net (period end) 55,916 19,506 16,150 5,305 96,877 Rental equipment, at cost (period end) 769,190 246,325 308,542 — 1,324,057 Rental equipment, net book value (period end) 544,421 90,172 221,778 — 856,371 Utilization (period end) 2 77.3 % 61.0 % 50.7 % Average utilization 2 76.6 % 60.6 % 50.1 % Segment Data (Continued) (dollar amounts in thousands) Mobile Modular TRS- RenTelco Adler Tanks Enviroplex 1 Consolidated Year Ended December 31, 2015 Rental revenues $ 115,986 $ 89,208 $ 68,502 $ — $ 273,696 Rental related services revenues 45,616 3,055 24,643 — 73,314 Sales and other revenues 22,682 22,754 1,486 10,612 57,534 Total revenues 184,284 115,017 94,631 10,612 404,544 Depreciation of rental equipment 19,246 39,974 15,993 — 75,213 Gross profit 78,771 47,836 47,397 2,903 176,907 Selling and administrative expenses 46,496 22,930 27,494 3,030 99,950 Income (loss) from operations 32,275 24,906 19,903 (127 ) 76,957 Interest expense (income) allocation (5,363 ) (2,194 ) (2,729 ) 194 (10,092 ) Income before provision for income taxes 26,912 22,224 17,174 67 66,377 Rental equipment acquisitions 79,622 44,316 9,440 — 133,378 Accounts receivable, net (period end) 53,550 21,784 17,955 1,728 95,017 Rental equipment, at cost (period end) 736,875 262,945 310,263 — 1,310,083 Rental equipment, net book value (period end) 529,483 102,191 237,927 — 869,601 Utilization (period end) 2 76.9 % 58.7 % 49.7 % Average utilization 2 75.8 % 60.5 % 58.3 % 2014 Rental revenues $ 96,457 $ 99,020 $ 74,098 $ — $ 269,575 Rental related services revenues 35,263 3,331 25,538 — 64,132 Sales and other revenues 29,855 25,951 1,152 17,457 74,415 Total revenues 161,575 128,302 100,788 17,457 408,122 Depreciation of rental equipment 16,536 40,935 15,207 — 72,678 Gross profit 63,455 60,249 53,452 5,063 182,219 Selling and administrative expenses 42,069 23,736 27,424 3,630 96,859 Income from operations 21,386 36,513 26,028 1,433 85,360 Interest expense (income) allocation 4,768 2,075 2,618 (181 ) 9,280 Income before provision for income taxes 16,959 34,383 23,605 1,614 76,561 Rental equipment acquisitions 82,792 45,158 20,652 — 148,602 Accounts receivable, net (period end) 46,659 28,849 21,031 4,617 101,156 Rental equipment, at cost (period end) 664,340 261,995 303,303 — 1,229,638 Rental equipment, net book value (period end) 473,960 105,729 246,061 — 825,750 Utilization (period end) 2 75.0 % 59.8 % 63.9 % Average utilization 2 72.3 % 60.4 % 62.9 % 1 Gross Enviroplex sales revenues were $22,206, $11,530 and $19,017 in 2016, 2015 and 2014, respectively, which includes inter-segment sales to Mobile Modular of $85, $918 and $1,560, 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 new equipment inventory and accessory equipment. The average utilization for the period is calculated using the average costs of rental equipment.

Quarterly Financial Informati29

Quarterly Financial Information (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	Quarterly financial information for each of the two years ended December 31, 2016 is summarized below: (in thousands, except per share amounts) 2016 First Second Third Fourth Year Operations Data Rental revenues $ 66,532 $ 66,747 $ 67,757 $ 70,352 $ 271,388 Total revenues 93,699 103,105 121,993 105,283 424,080 Gross profit 40,655 43,756 50,433 49,323 184,167 Income from operations 14,258 18,073 24,232 22,696 79,259 Income before provision for income taxes 10,853 15,006 21,277 19,795 66,931 Net income 6,566 9,079 12,872 9,734 38,251 Earnings per share: Basic $ 0.28 $ 0.38 $ 0.54 $ 0.41 $ 1.60 Diluted $ 0.27 $ 0.38 $ 0.54 $ 0.40 $ 1.60 Dividends declared per share $ 0.255 $ 0.255 $ 0.255 $ 0.255 $ 1.02 Shares used in per share calculations: Basic 23,862 23,900 23,911 23,927 23,900 Diluted 23,911 23,949 24,041 24,123 23,976 Balance Sheet Data Rental equipment, net $ 867,215 $ 868,422 $ 862,528 $ 856,371 $ 856,371 Total assets 1,132,355 1,148,018 1,144,923 1,128,276 1,128,276 Notes payable 365,772 363,121 345,286 326,266 326,266 Shareholders’ equity 380,512 383,313 390,600 394,287 394,287 2015 First Second Third Fourth Year Operations Data Rental revenues $ 65,502 $ 67,305 $ 70,195 $ 70,694 $ 273,696 Total revenues 90,188 96,026 113,048 105,282 404,544 Gross profit 39,087 40,918 50,146 46,756 176,907 Income from operations 13,875 16,465 25,150 21,467 76,957 Income before provision for income taxes 11,316 14,033 22,505 18,523 66,377 Net income 6,846 8,490 13,616 11,518 40,470 Earnings per share: Basic $ 0.26 $ 0.33 $ 0.54 $ 0.48 $ 1.60 Diluted $ 0.26 $ 0.32 $ 0.54 $ 0.48 $ 1.59 Dividends declared per share $ 0.250 $ 0.250 $ 0.250 $ 0.250 $ 1.00 Shares used in per share calculations: Basic 26,091 26,142 25,334 23,932 25,369 Diluted 26,276 26,273 25,408 24,015 25,457 Balance Sheet Data Rental equipment, net $ 839,078 $ 856,489 $ 864,277 $ 869,601 $ 869,601 Total assets 1,112,056 1,132,750 1,149,095 1,152,549 1,152,549 Notes payable 320,923 337,177 382,113 381,281 381,281 Shareholders’ equity 425,848 426,823 389,464 379,687 379,687

Summary of Significant Accoun30

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016USD ($)DivisionSegmentshares	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Aug. 31, 2015shares	May 31, 2008shares
Accounting Policies [Abstract]
Number of divisions | Division	4
Number of reportable segments | Segment	4
Impairments of long-lived assets	$ 0	$ 0	$ 0
Period for warranties for rental equipment	90 days
Period for warranties for equipment manufactured	1 year
Property, plant and equipment depreciation expenses	$ 8,100,000	8,200,000	7,600,000
Capitalized in internal use of software	200,000	600,000
Total advertising expenses	$ 2,900,000	2,800,000	2,400,000
Estimated useful life (In years), Customer relationships	11 years
Goodwill and trade name intangible assets	$ 33,500,000	33,500,000
Goodwill and intangible assets impairment charge	$ 0	0	$ 0
Common stock shares authorized for repurchase | shares				2,000,000	2,000,000
Shares remain authorized for repurchase | shares	1,592,026
Unbilled receivables related to end-of-lease services	$ 28,100,000	25,000,000
Period for credit risk identified	30 days
Estimated fair value notes payable	$ 140,700,000	160,600,000
Recorded fair value of notes payable	$ 140,000,000	$ 160,000,000

Summary of Significant Accoun31

Summary of Significant Accounting Policies - Estimated Useful Lives and Residual Values of Company's Rental Equipment (Detail)	12 Months Ended
	Dec. 31, 2016
Relocatable modular buildings [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	18 years
Percentage residual value property subject to or available for operating lease	50.00%
Relocatable modular accessories [Member]
Property, Plant and Equipment [Line Items]
Percentage residual value property subject to or available for operating lease	0.00%
Portable storage containers [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	25 years
Percentage residual value property subject to or available for operating lease	62.50%
Electronic test equipment and accessories [Member]
Property, Plant and Equipment [Line Items]
Percentage residual value property subject to or available for operating lease	0.00%
Liquid and solid containment tanks and boxes and accessories [Member]
Property, Plant and Equipment [Line Items]
Percentage residual value property subject to or available for operating lease	0.00%
Minimum [Member] | Relocatable modular accessories [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	3 years
Minimum [Member] | Electronic test equipment and accessories [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	1 year
Minimum [Member] | Liquid and solid containment tanks and boxes and accessories [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	10 years
Maximum [Member] | Relocatable modular accessories [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	18 years
Maximum [Member] | Electronic test equipment and accessories [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	8 years
Maximum [Member] | Liquid and solid containment tanks and boxes and accessories [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	20 years

Summary of Significant Accoun32

Summary of Significant Accounting Policies - Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 180,341	$ 170,597
Less accumulated depreciation	(68,854)	(61,410)
Property plant and equipment net excluding capitalized cost	111,487	109,187
Construction in progress	703	566
Property, Plant and Equipment, net	112,190	109,753
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 45,928	40,378
Estimated useful life	Indefinite
Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 42,677	42,004
Land Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years
Land Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	50 years
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 26,105	25,520
Estimated useful life	30 years
Furniture, Office and Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 35,215	34,053
Furniture, Office and Computer Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Furniture, Office and Computer Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Machinery and Service Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 30,416	$ 28,642
Machinery and Service Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Machinery and Service Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	25 years

Summary of Significant Accoun33

Summary of Significant Accounting Policies - Weighted-Average Common Stock Used to Calculate Basic and Diluted Earnings Per Share (Detail) - shares shares in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share [Abstract]
Weighted-average common stock for calculating basic earnings per share	23,927	23,911	23,900	23,862	23,932	25,334	26,142	26,091	23,900	25,369	25,914
Effect of potentially dilutive securities from equity-based compensation									76	88	261
Weighted-average common stock for calculating diluted earnings per share	24,123	24,041	23,949	23,911	24,015	25,408	26,273	26,276	23,976	25,457	26,175

Summary of Significant Accoun34

Summary of Significant Accounting Policies - Securities Not Included in Computation of Diluted Earnings Per Share (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share [Abstract]
Options to purchase common stock	661	746	9

Summary of Significant Accoun35

Summary of Significant Accounting Policies - Summary of Share Repurchase Activities (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Equity [Abstract]
Number of shares repurchased	0	2,407,974
Aggregate purchase price		$ 63,953
Average price per repurchased shares		$ 26.56

Summary of Significant Accoun36

Summary of Significant Accounting Policies - Summary of Allowance for Doubtful Accounts Activity (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Allowance for doubtful accounts, Beginning Balance	$ 2,087	$ 2,038
Provision for doubtful accounts	1,892	2,149	$ 1,825
Write-offs, net of recoveries	(1,892)	(2,100)
Allowance for doubtful accounts, Ending Balance	$ 2,087	$ 2,087	$ 2,038

Financed Lease Receivables - Mi

Financed Lease Receivables - Minimum Lease Payments Receivable and Net Investment Included in Accounts Receivable for Leases (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Minimum lease payments receivable and net investment included in accounts receivable for leases
Gross minimum lease payments receivable	$ 3,252	$ 2,745
Less – unearned interest	(301)	(175)
Net investment in sales type lease receivables	$ 2,951	$ 2,570

Financed Lease Receivables - Fu

Financed Lease Receivables - Future Minimum Lease Payments under Non-Cancelable Sales-Type Leases (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Future minimum lease payments under non-cancelable sales-type leases
2,017	$ 2,162
2,018	605
2,019	192
2,020	192
2,021	101
Total minimum future lease payments	$ 3,252	$ 2,745

Notes Payable - Components of N

Notes Payable - Components of Notes Payable (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Notes payable	$ 326,376	$ 381,441
Unsecured Revolving Lines of Credit [Member]
Debt Instrument [Line Items]
Notes payable	186,376	221,441
Series A senior notes [Member] | 4.03% Series A senior notes due in 2018 [Member]
Debt Instrument [Line Items]
Notes payable	40,000	60,000
Series B Senior Notes | 3.68% Series B senior notes due in 2021 [Member]
Debt Instrument [Line Items]
Notes payable	40,000	40,000
Series C Senior Notes | 3.84% Series C senior notes due in 2022 [Member]
Debt Instrument [Line Items]
Notes payable	$ 60,000	$ 60,000

Notes Payable - Components of40

Notes Payable - Components of Notes Payable (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2016	Nov. 05, 2015	Mar. 17, 2014	Apr. 21, 2011
Series A senior notes [Member] | 4.03% Series A senior notes due in 2018 [Member]
Debt Instrument [Line Items]
Senior Notes, interest rate	4.03%			4.03%
Senior Notes, year of maturity	2,018
Series B Senior Notes | 3.68% Series B senior notes due in 2021 [Member]
Debt Instrument [Line Items]
Senior Notes, interest rate	3.68%		3.68%
Senior Notes, year of maturity	2,021
Series C Senior Notes | 3.84% Series C senior notes due in 2022 [Member]
Debt Instrument [Line Items]
Senior Notes, interest rate	3.84%	3.84%
Senior Notes, year of maturity	2,022

Notes Payable - Schedule of Fut

Notes Payable - Schedule of Future Minimum Payments under Unsecured Revolving Lines of Credit and 4.03% Senior Notes, 3.68% Senior Notes and 3.84% Senior Notes (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Notes payable	$ 326,376	$ 381,441
Notes Payable to Banks and Others [Member]
Debt Instrument [Line Items]
2,017	20,000
2,018	20,000
2,021	226,376
2022 and thereafter	60,000
Notes payable	$ 326,376

Notes Payable - Additional Info

Notes Payable - Additional Information (Detail) - USD ($)	Nov. 05, 2015	Mar. 17, 2014	Dec. 31, 2016	Mar. 31, 2016	Feb. 09, 2016	Dec. 31, 2015	Apr. 21, 2011
Debt Instrument [Line Items]
Consolidated Fixed Charge Coverage Ratio			2.50%
Consolidated Fixed Charge Coverage Ratio, actual			3.74%
Consolidated Leverage Ratio			2.75%
Consolidated Leverage Ratio, actual			2.00%
Line of credit facility covenants tangible net worth description			Permit Tangible Net Worth, calculated as of the last day of each fiscal quarter, to be less than the sum of (i) $229.0 million, plus (ii) 25% of net income for such fiscal quarter subsequent to December 31, 2010, plus (iii) 90% of the net cash proceeds from the issuance of the Company’s capital stock after December 31, 2010.
Tangible Net Worth sum			$ 313,300,000
Consolidated Net Income			25.00%
Percentage of net cash proceeds from issuance of capital stock			90.00%
Actual tangible net worth			$ 357,900,000
Senior notes principal balance outstanding			$ 326,376,000			$ 381,441,000
2016 Amendment [Member]
Debt Instrument [Line Items]
Senior notes description			(i) the issuance period for the shelf notes to be issued and sold pursuant to the Note Purchase Agreement is extended until the earlier of February 9, 2019 or the termination of the issuance and sale of the shelf notes upon the 30 days’ prior notice of either PIM or the Company, and (ii) the definition of the “Available Facility Amount,” which is the aggregate amount of the shelf notes that may be authorized for purchase pursuant to the Note Purchase Agreement was amended to equal a formula based on: $250 million, minus the aggregate principal amount of the shelf notes then outstanding and purchased pursuant to the Note Purchase Agreement, minus the shelf notes accepted by the Company for purchase, but not yet purchased, by the Purchaser pursuant to the Note Purchase Agreement; provided, however, the aggregate amount of the shelf notes purchased by any corporation or other entity controlling, controlled by, or under common control with, PIM shall not exceed $200 million.
Stated formula value for determining available facility amount					$ 250,000,000
Series A senior notes [Member] | 4.03% Series A senior notes due in 2018 [Member]
Debt Instrument [Line Items]
Aggregate principal amount							$ 100,000,000
Senior notes interest rate			4.03%				4.03%
Debt instrument, payment terms			Interest on these notes is due semi-annually in arrears and the principal is due in five equal annual installments, with the first payment due on April 21, 2014.
Debt instrument, maturity date			Apr. 21, 2018
Debt instrument, date of first required payment			Apr. 21, 2014
Senior notes principal balance outstanding			$ 40,000,000			60,000,000
Series B Senior Notes | 3.68% Series B senior notes due in 2021 [Member]
Debt Instrument [Line Items]
Senior notes interest rate		3.68%	3.68%
Debt instrument, maturity date			Mar. 17, 2021
Senior notes principal balance outstanding			$ 40,000,000			40,000,000
Proceeds from issuance of senior notes		$ 40,000,000
Senior notes description			The Series B Senior Notes are an unsecured obligation of the Company, bear interest at a rate of 3.68% per annum and mature on March 17, 2021. Interest on the Series B Senior Notes is payable semi-annually beginning on September 17, 2014 and continuing thereafter on March 17 and September 17 of each year until maturity.
Senior notes interest payment			Semi-annually
Series C Senior Notes | 3.84% Series C senior notes due in 2022 [Member]
Debt Instrument [Line Items]
Senior notes interest rate	3.84%		3.84%
Debt instrument, payment terms			Interest on the Series C Senior Notes is payable semi-annually beginning on May 5, 2016 and continuing thereafter on November 5 and May 5 of each year until maturity.
Debt instrument, maturity date			Nov. 5, 2022
Debt instrument, date of first required payment			May 5, 2016
Senior notes principal balance outstanding			$ 60,000,000			$ 60,000,000
Proceeds from issuance of senior notes	$ 60,000,000
Senior notes interest payment			Semi-annually
Minimum [Member]
Debt Instrument [Line Items]
Tangible Net Worth sum			$ 229,000,000
Maximum [Member] | 2016 Amendment [Member]
Debt Instrument [Line Items]
Aggregate principal amount					$ 200,000,000
Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility, maturity period			5 years
Revolving credit facility, maturity date			Mar. 31, 2021
Credit facility, maximum			$ 420,000,000
Revolving credit facility, available maximum borrowing capacity			620,000,000
Additional commitments			$ 200,000,000
Consolidated Fixed Charge Coverage Ratio			2.50%
Consolidated Fixed Charge Coverage Ratio, actual			3.74%
Consolidated Leverage Ratio			2.75%
Consolidated Leverage Ratio, actual			2.00%
Line of credit facility covenants tangible net worth description			Permit Tangible Net Worth as of the end of any fiscal quarter of the Company to be less than the sum of (i) $246.1 million plus (ii) 25% of the Company’s Consolidated Net Income (as defined in the Amended Credit Facility) (but only if a positive number) for each fiscal quarter ended subsequent to December 31, 2011
Tangible Net Worth sum			$ 313,300,000
Consolidated Net Income			25.00%
Percentage of net cash proceeds from issuance of capital stock			90.00%
Actual tangible net worth			$ 357,900,000
Debt instrument description of variable rate basis			(i) LIBOR plus a defined margin, or (ii) the Agent bank’s prime rate (“base rate”) plus a margin. The applicable margin for each type of loan is measured based upon the Consolidated Leverage Ratio at the end of the prior fiscal quarter and ranges from 1.00% to 1.75% for LIBOR loans and 0% to 0.75% for base rate loans. In addition, the Company pays an unused commitment fee for the portion of the $420.0 million credit facility that is not used. These fees are based upon the Consolidated Leverage Ratio and range from 0.15% to 0.30%. As of December 31, 2016 and 2015, the applicable margins were 1.50% and 1.75% for LIBOR based loans, respectively, 0.50% and 0.75% for base rate loans, respectively and 0.25% and 0.30% for unused fees, respectively. Amounts borrowed under the Sweep Service Facility are based upon the MUFG Union Bank, N.A. base rate plus an applicable margin and an unused commitment fee for the portion of the $12.0 million facility not used.
Unused commitment fees			$ 420,000,000
Credit Facility [Member] | Unused Fees [Member]
Debt Instrument [Line Items]
Debt instrument interest rate at period end			0.25%			0.30%
Credit Facility [Member] | LIBOR Loans [Member]
Debt Instrument [Line Items]
Debt instrument interest rate at period end			1.50%			1.75%
Credit Facility [Member] | Base Rate Loans [Member]
Debt Instrument [Line Items]
Debt instrument interest rate at period end			0.50%			0.75%
Credit Facility [Member] | Sweep Service Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum			$ 432,000,000
Revolving credit facility, available maximum borrowing capacity			245,600,000
Amount outstanding			186,400,000
Unused commitment fees			12,000,000
Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Tangible Net Worth sum			$ 246,100,000
Leverage ratio			0.15%
Credit Facility [Member] | Minimum [Member] | LIBOR Loans [Member]
Debt Instrument [Line Items]
Leverage ratio			1.00%
Credit Facility [Member] | Minimum [Member] | Base Rate Loans [Member]
Debt Instrument [Line Items]
Leverage ratio			0.00%
Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Leverage ratio			0.30%
Credit Facility [Member] | Maximum [Member] | LIBOR Loans [Member]
Debt Instrument [Line Items]
Leverage ratio			1.75%
Credit Facility [Member] | Maximum [Member] | Base Rate Loans [Member]
Debt Instrument [Line Items]
Leverage ratio			0.75%
Unsecured revolving credit facility before Renewal [Member]
Debt Instrument [Line Items]
Credit facility, maximum			$ 420,000,000
Letters of Credit [Member]
Debt Instrument [Line Items]
Credit facility, maximum			25,000,000
Letters of Credit [Member] | Minimum [Member]
Debt Instrument [Line Items]
Credit facility, maximum				$ 10,000,000
Letters of Credit [Member] | Maximum [Member]
Debt Instrument [Line Items]
Credit facility, maximum				$ 12,000,000
Swingline Loans [Member]
Debt Instrument [Line Items]
Credit facility, maximum			$ 10,000,000

Notes Payable - Schedule of Inf

Notes Payable - Schedule of Information Related to Lines of Credit (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
Maximum amount outstanding	$ 239,820	$ 295,588
Average amount outstanding	$ 214,446	$ 236,860
Weighted average interest rate, during the period	2.19%	2.35%
Prime interest rate, end of period	3.75%	3.50%

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Before Provision For Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest [Abstract]
U.S.									$ 67,199	$ 66,889	$ 76,848
Foreign									(268)	(512)	(287)
Income before provision for income taxes	$ 19,795	$ 21,277	$ 15,006	$ 10,853	$ 18,523	$ 22,505	$ 14,033	$ 11,316	$ 66,931	$ 66,377	$ 76,561

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current:
U.S. Federal	$ 17,203	$ 7,976	$ 7,494
State	2,049	1,851	2,139
Foreign	1,683	1,645	1,572
Current income tax expense (benefit)	20,935	11,472	11,205
Deferred:
U.S. Federal	4,005	13,201	17,986
State	3,039	1,538	1,927
Foreign	701	(304)	(266)
Deferred income tax expense (benefit)	7,745	14,435	19,647
Total	$ 28,680	$ 25,907	$ 30,852

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of U.S. Federal Statutory Tax Rate to Company's Effective Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
U.S. federal statutory rate	35.00%	35.00%	35.00%
State taxes, net of federal benefit	4.20%	4.20%	4.10%
State deferred tax rate change, net of federal benefit	2.00%	(0.40%)	0.10%
Valuation allowance	1.10%
Other	0.60%	0.20%	1.10%
Effective Income Tax Rate	42.90%	39.00%	40.30%

Income Taxes - Deferred Income

Income Taxes - Deferred Income Taxes Related to Temporary Differences between Tax Bases of Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred tax liabilities:
Accelerated depreciation	$ 293,141	$ 286,618
Prepaid costs currently deductible	6,572	6,997
Other	5,747	5,034
Total deferred tax liabilities	305,460	298,649
Deferred tax assets:
Accrued costs not yet deductible	9,785	8,638
Allowance for doubtful accounts	809	804
Net operating loss carry forwards		577
Deferred revenues	965	1,945
Share-based compensation	1,882	3,334
Total deferred tax assets, net of valuation allowance of $0.7 million in 2016	13,441	15,298
Deferred income taxes, net	$ 292,019	$ 283,351

Income Taxes - Deferred Incom48

Income Taxes - Deferred Income Taxes Related to Temporary Differences between Tax Bases of Assets and Liabilities (Parenthetical) (Detail) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Deferred tax assets, valuation allowance	$ 700,000	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating Loss Carryforwards [Line Items]
Deferred tax assets, valuation allowance	$ 700,000	$ 0
Excess tax shortfall (benefit) from exercise of stock options	1,100,000	300,000	$ (1,800,000)
Undistributed earnings of foreign subsidiaries	$ 1,900,000	1,900,000
Likelihood percentage of being realized upon ultimate settlement with the relevant tax authority	50.00%
Unrecognized tax benefits	$ 0	0
Changes in unrecognized benefits	0	$ 0	$ 0
TRS-RenTelco [Member] | Bangalore, India [Member]
Operating Loss Carryforwards [Line Items]
Deferred tax assets, valuation allowance	$ 700,000

Benefit Plans - Additional Info

Benefit Plans - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Jun. 08, 2016	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 3,091,000	$ 3,399,000	$ 3,854,000
Tax benefit related to share-based compensation expense	1,200,000	1,300,000	1,500,000
Capitalized share-based compensation expense	0	0	0
Amount of reduction in net income due to share-based compensation expense	$ 1,900,000	$ 2,100,000	$ 2,300,000
Amount of reduction in diluted earning per share to share-based compensation expense	$ 0.08	$ 0.08	$ 0.09
Stock option plans remain outstanding	1,584,435	1,410,650	1,343,760		1,772,062
Weighted average grant date fair value	$ 4.14	$ 6.60	$ 9.17
Dividends deducted	$ 400,000
Tax benefit from dividends	$ 100,000
Shares outstanding, employee stock ownership plan	335,334
Percentage of total common shares outstanding	2.00%
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized	2,251,074
Stock options granted	8,159,000
Stock options, exercise prices lower	$ 3.47
Stock options, exercise prices upper	$ 39.19
Purchase of shares	5,222,603
Stock option shares terminated	1,351,962
Stock option plans remain outstanding	1,584,435
Stock options outstanding, exercise prices lower	$ 23.84
Stock options outstanding, exercise prices upper	$ 39.19
Stock options vesting period	5 years
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	7 years
Options issued to non-employee advisors	0
Aggregate intrinsic value of options exercised and sold	$ 4,200,000	$ 5,700,000	$ 8,400,000
Total unrecognized compensation cost	$ 5,700,000
Expected recognition period of unrecognized compensation expense	3 years 1 month 6 days
Performance-based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vesting period	5 years
Percentage of vesting annually at anniversary	20.00%
Number of RSU's expected to vest	30,380
Performance-based RSUs [Member] | Vesting after three years [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of vesting RSUs	60.00%
Service-based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of RSU's expected to vest	23,400
Number of forfeitures expected	0
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected recognition period of unrecognized compensation expense	2 years 3 months 18 days
Number of forfeitures expected	68,300	80,320	7,540
Stock-based compensation expense for restricted stock	$ 1,000,000	$ 1,700,000	$ 2,300,000
Total unrecognized compensation expense net of forfeitures	$ 600,000
Maximum [Member] | Service-based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vesting period	14 months
Minimum [Member] | Service-based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vesting period	12 months
2007 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reduction in common stock available for grant	2
Common Stock [Member] | 2016 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock remained available for grants of awards				2,000,000
Common Stock [Member] | 2016 Stock Incentive Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of award (in years)	7 years
Common Stock [Member] | 2016 Stock Incentive Plan [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Rate of exercise price for equity award granted	100.00%

Benefit Plans - Summary of Comp

Benefit Plans - Summary of Company's Option Activity (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Options, Beginning Balance	1,410,650	1,343,760	1,772,062
Number of Options, granted	881,800	456,200	203,600
Number of Options, exercised	(368,085)	(270,650)	(612,682)
Number of Options, cancelled/forfeited/expired	(339,930)	(118,660)	(19,220)
Number of Options, Ending Balance	1,584,435	1,410,650	1,343,760
Number of Options, Exercisable at December 31, 2016	354,165
Number of Options, Expected to Vest after December 31, 2016	1,107,243
Weighted-Average Price, Beginning Balance	$ 29.91	$ 27.25	$ 24.68
Weighted-Average Price, Options granted	25.26	31.69	32.79
Weighted-Average Price, Options exercised	27.34	19.81	21.55
Weighted-Average Price, Options cancelled/forfeited/expired	28.62	29.58	30.35
Weighted-Average Price, Ending Balance	28.14	$ 29.91	$ 27.25
Weighted-Average Price, Exercisable at December 31, 2016	30.85
Weighted-Average Price, Expected to Vest after December 31, 2016	$ 27.36
Weighted-Average Remaining Contractual Term, Balance At December 31, 2016	6 years 2 months 12 days
Weighted-Average Remaining Contractual Term, Exercisable at December 31, 2016	4 years 8 months 12 days
Weighted-Average Remaining Contractual Term, Expected to Vest after December 31, 2016	6 years 7 months 17 days
Aggregate Intrinsic Value, Balance At December 31, 2016	$ 17.5
Aggregate Intrinsic Value, Exercisable at December 31, 2016	3
Aggregate Intrinsic Value, Expected to Vest after December 31, 2016	$ 13.1

Benefit Plans - Options Outstan

Benefit Plans - Options Outstanding and Options Exercisable by Exercise Price with Weighted-Average Remaining Contractual Life for Options Outstanding and Weighted-Average Exercise Price (Detail)	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Exercise Price 20-25 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Lower Range Limit	$ 20
Exercise Price Upper Range Limit	$ 25
Options Outstanding, Number | shares	751,500
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	6 years 11 months 23 days
Options Outstanding, Weighted-Average Grant Date Value	$ 24.60
Options Exercisable, Number | shares	3,780
Options Exercisable, Weighted-Average Grant Date Value	$ 23.84
Exercise Price 25-30 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Lower Range Limit	25
Exercise Price Upper Range Limit	$ 30
Options Outstanding, Number | shares	171,920
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	4 years 29 days
Options Outstanding, Weighted-Average Grant Date Value	$ 28.59
Options Exercisable, Number | shares	118,500
Options Exercisable, Weighted-Average Grant Date Value	$ 28.93
Exercise Price 30-35 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Lower Range Limit	30
Exercise Price Upper Range Limit	$ 35
Options Outstanding, Number | shares	651,355
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	5 years 10 months 6 days
Options Outstanding, Weighted-Average Grant Date Value	$ 32.06
Options Exercisable, Number | shares	231,005
Options Exercisable, Weighted-Average Grant Date Value	$ 32.12
Exercise Price 35-40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Lower Range Limit	35
Exercise Price Upper Range Limit	$ 40
Options Outstanding, Number | shares	9,600
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	6 years 4 months 28 days
Options Outstanding, Weighted-Average Grant Date Value	$ 38.43
Options Exercisable, Number | shares	880
Options Exercisable, Weighted-Average Grant Date Value	$ 36.62
Exercise Price 20-40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Lower Range Limit	20
Exercise Price Upper Range Limit	$ 40
Options Outstanding, Number | shares	1,584,375
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	6 years 2 months 12 days
Options Outstanding, Weighted-Average Grant Date Value	$ 28.14
Options Exercisable, Number | shares	354,165
Options Exercisable, Weighted-Average Grant Date Value	$ 30.78

Benefit Plans - Schedule of Wei

Benefit Plans - Schedule of Weighted-Average Assumptions Used to Determine Fair Value of Option Granted (Detail)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Expected term (in years)	5 years	5 years	5 years
Expected volatility	28.70%	31.10%	40.50%
Expected dividend yields	4.10%	3.20%	3.00%
Risk-free interest rates	1.20%	1.60%	1.50%

Benefit Plans - Summary of Co54

Benefit Plans - Summary of Company's Restricted Stock Units Activity (Detail) - Restricted Stock Units [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Beginning Balance	220,648	311,583	320,980
Number of Shares, granted	31,900	79,300	118,864
Number of Shares, vested	(59,008)	(89,915)	(120,721)
Number of Shares, cancelled/forfeited/expired	(68,300)	(80,320)	(7,540)
Number of Shares, Ending Balance	125,240	220,648	311,583
Weighted-Average Grant Date Fair Value, Beginning Balance	$ 30.70	$ 29.78	$ 28.47
Weighted-Average Grant Date Fair Value, granted	25.75	31.86	30.85
Weighted-Average Grant Date Fair Value, vested	29.69	27.97	27.30
Weighted-Average Grant Date Fair Value, cancelled/forfeited/expired	29.33	31.35	30.34
Weighted-Average Grant Date Fair Value, Ending Balance	$ 30.66	$ 30.70	$ 29.78
Aggregate Intrinsic Value	$ 4.9

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Aug. 31, 2015	May 31, 2008
Stockholders Equity Note [Abstract]
Common stock shares authorized for repurchase			2,000,000	2,000,000
Shares remain authorized for repurchase	1,592,026
Common stock repurchased, Shares	0	2,407,974
Aggregate purchase price		$ 63,953
Average price per repurchased shares		$ 26.56

Commitments and Contingencies -

Commitments and Contingencies - Minimum Payments under Leases, Exclusive of Property Taxes and Insurance (Detail) $ in Thousands	Dec. 31, 2016USD ($)
Operating Leases Future Minimum Payments Due [Abstract]
2,017	$ 1,550
2,018	1,148
2,019	276
2,020	14
2,021	14
Thereafter	0
Total minimum future lease payments	$ 3,002

Commitments and Contingencies57

Commitments and Contingencies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Commitments And Contingencies Disclosure [Abstract]
Rent expense	$ 3,500,000	$ 3,500,000	$ 3,400,000
Health compensation plan annual stop-loss insurance per claim	150,000
Workers compensation plan annual stop-loss insurance per claim	250,000
Accruals for health and workers' compensation plans	$ 2,400,000	$ 1,900,000

Intangible Assets - Summary of

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
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	(6,716)	(5,846)
Intangible Assets, net	$ 8,595	$ 9,465
Estimated useful life (In years), Customer relationships	11 years

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 900,000	$ 900,000	$ 800,000
Subsequent impairment of the underlying assets	0
Expected annual amortization expense for 2017	900,000
Expected annual amortization expense for 2018	900,000
Expected annual amortization expense for 2019	900,000
Expected annual amortization expense for 2020	$ 200,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Related Party Transactions [Abstract]
Amount due from (to) related party	$ 0	$ 0

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail) - Segment	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 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%	10.00%
Geographic Concentration Risk [Member] | Sales [Member] | Foreign Country Customers [Member]
Segment Reporting Information [Line Items]
Revenues from customers	5.00%	5.00%	5.00%

Segment Reporting - Summarized

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Detail) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Rental revenues		$ 70,352	$ 67,757	$ 66,747	$ 66,532	$ 70,694	$ 70,195	$ 67,305	$ 65,502	$ 271,388	$ 273,696	$ 269,575
Rental related services revenues										75,859	73,314	64,132
Sales and other revenues										76,833	57,534	74,415
Total revenues		105,283	121,993	103,105	93,699	105,282	113,048	96,026	90,188	424,080	404,544	408,122
Depreciation of rental equipment										72,197	75,213	72,678
Gross profit		49,323	50,433	43,756	40,655	46,756	50,146	40,918	39,087	184,167	176,907	182,219
Selling and administrative expenses										104,908	99,950	96,859
Income (loss) from operations		22,696	24,232	18,073	14,258	21,467	25,150	16,465	13,875	79,259	76,957	85,360
Interest expense (income) allocation										(12,207)	(10,092)	9,280
Income before provision for income taxes		19,795	21,277	15,006	10,853	18,523	22,505	14,033	11,316	66,931	66,377	76,561
Rental equipment acquisitions										74,634	133,378	148,602
Accounts receivable, net (period end)		96,877				95,017				96,877	95,017	101,156
Rental equipment, at cost (period end)		1,324,057				1,310,083				1,324,057	1,310,083	1,229,638
Rental equipment, net book value (period end)		856,371	$ 862,528	$ 868,422	$ 867,215	869,601	$ 864,277	$ 856,489	$ 839,078	856,371	869,601	825,750
Mobile Modular [Member]
Segment Reporting Information [Line Items]
Rental revenues										130,496	115,986	96,457
Rental related services revenues										49,206	45,616	35,263
Sales and other revenues										29,810	22,682	29,855
Total revenues										209,512	184,284	161,575
Depreciation of rental equipment										21,001	19,246	16,536
Gross profit										93,816	78,771	63,455
Selling and administrative expenses										51,432	46,496	42,069
Income (loss) from operations										42,384	32,275	21,386
Interest expense (income) allocation										(6,804)	(5,363)	4,768
Income before provision for income taxes										35,580	26,912	16,959
Rental equipment acquisitions										43,099	79,622	82,792
Accounts receivable, net (period end)		55,916				53,550				55,916	53,550	46,659
Rental equipment, at cost (period end)		769,190				736,875				769,190	736,875	664,340
Rental equipment, net book value (period end)		544,421				529,483				$ 544,421	$ 529,483	$ 473,960
Utilization (period end)	[1]									77.30%	76.90%	75.00%
Average utilization	[1]									76.60%	75.80%	72.30%
TRS-RenTelco [Member]
Segment Reporting Information [Line Items]
Rental revenues										$ 82,307	$ 89,208	$ 99,020
Rental related services revenues										2,846	3,055	3,331
Sales and other revenues										23,464	22,754	25,951
Total revenues										108,617	115,017	128,302
Depreciation of rental equipment										35,256	39,974	40,935
Gross profit										45,797	47,836	60,249
Selling and administrative expenses										21,896	22,930	23,736
Income (loss) from operations										23,901	24,906	36,513
Interest expense (income) allocation										(2,465)	(2,194)	2,075
Income before provision for income taxes										21,315	22,224	34,383
Rental equipment acquisitions										30,505	44,316	45,158
Accounts receivable, net (period end)		19,506				21,784				19,506	21,784	28,849
Rental equipment, at cost (period end)		246,325				262,945				246,325	262,945	261,995
Rental equipment, net book value (period end)		90,172				102,191				$ 90,172	$ 102,191	$ 105,729
Utilization (period end)	[1]									61.00%	58.70%	59.80%
Average utilization	[1]									60.60%	60.50%	60.40%
Adler Tanks [Member]
Segment Reporting Information [Line Items]
Rental revenues										$ 58,585	$ 68,502	$ 74,098
Rental related services revenues										23,807	24,643	25,538
Sales and other revenues										1,438	1,486	1,152
Total revenues										83,830	94,631	100,788
Depreciation of rental equipment										15,940	15,993	15,207
Gross profit										37,409	47,397	53,452
Selling and administrative expenses										27,610	27,494	27,424
Income (loss) from operations										9,799	19,903	26,028
Interest expense (income) allocation										(3,200)	(2,729)	2,618
Income before provision for income taxes										6,599	17,174	23,605
Rental equipment acquisitions										1,030	9,440	20,652
Accounts receivable, net (period end)		16,150				17,955				16,150	17,955	21,031
Rental equipment, at cost (period end)		308,542				310,263				308,542	310,263	303,303
Rental equipment, net book value (period end)		221,778				237,927				$ 221,778	$ 237,927	$ 246,061
Utilization (period end)	[1]									50.70%	49.70%	63.90%
Average utilization	[1]									50.10%	58.30%	62.90%
Enviroplex [Member]
Segment Reporting Information [Line Items]
Sales and other revenues	[2]									$ 22,121	$ 10,612	$ 17,457
Total revenues	[2]									22,121	10,612	17,457
Gross profit	[2]									7,145	2,903	5,063
Selling and administrative expenses	[2]									3,970	3,030	3,630
Income (loss) from operations	[2]									3,175	(127)	1,433
Interest expense (income) allocation	[2]									262	194	(181)
Income before provision for income taxes	[2]									3,437	67	1,614
Accounts receivable, net (period end)	[2]	$ 5,305				$ 1,728				$ 5,305	$ 1,728	$ 4,617
[1]	Utilization is calculated each month by dividing the cost of rental equipment on rent by the total cost of rental equipment excluding new equipment inventory and accessory equipment. The average utilization for the period is calculated using the average costs of rental equipment.
[2]	Gross Enviroplex sales revenues were $22,206, $11,530 and $19,017 in 2016, 2015 and 2014, respectively, which includes inter-segment sales to Mobile Modular of $85, $918 and $1,560, which have been eliminated in consolidation.

Segment Reporting - Summarize63

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Parenthetical) (Detail) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Revenues		$ 105,283	$ 121,993	$ 103,105	$ 93,699	$ 105,282	$ 113,048	$ 96,026	$ 90,188	$ 424,080	$ 404,544	$ 408,122
Enviroplex [Member]
Segment Reporting Information [Line Items]
Revenues	[1]									22,121	10,612	17,457
Mobile Modular [Member]
Segment Reporting Information [Line Items]
Revenues										209,512	184,284	161,575
Operating Segments [Member] | Enviroplex [Member]
Segment Reporting Information [Line Items]
Revenues										22,206	11,530	19,017
Inter-segment Eliminations [Member] | Mobile Modular [Member]
Segment Reporting Information [Line Items]
Sales revenues										$ 85	$ 918	$ 1,560
[1]	Gross Enviroplex sales revenues were $22,206, $11,530 and $19,017 in 2016, 2015 and 2014, respectively, which includes inter-segment sales to Mobile Modular of $85, $918 and $1,560, which have been eliminated in consolidation.

Quarterly Financial Informati64

Quarterly Financial Information - Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operations Data
Rental revenues	$ 70,352	$ 67,757	$ 66,747	$ 66,532	$ 70,694	$ 70,195	$ 67,305	$ 65,502	$ 271,388	$ 273,696	$ 269,575
Total revenues	105,283	121,993	103,105	93,699	105,282	113,048	96,026	90,188	424,080	404,544	408,122
Gross profit	49,323	50,433	43,756	40,655	46,756	50,146	40,918	39,087	184,167	176,907	182,219
Income from operations	22,696	24,232	18,073	14,258	21,467	25,150	16,465	13,875	79,259	76,957	85,360
Income before provision for income taxes	19,795	21,277	15,006	10,853	18,523	22,505	14,033	11,316	66,931	66,377	76,561
Net income	$ 9,734	$ 12,872	$ 9,079	$ 6,566	$ 11,518	$ 13,616	$ 8,490	$ 6,846	$ 38,251	$ 40,470	$ 45,709
Earnings per share:
Basic	$ 0.41	$ 0.54	$ 0.38	$ 0.28	$ 0.48	$ 0.54	$ 0.33	$ 0.26	$ 1.60	$ 1.60	$ 1.77
Diluted	0.40	0.54	0.38	0.27	0.48	0.54	0.32	0.26	1.60	1.59	1.75
Dividends declared per share	$ 0.255	$ 0.255	$ 0.255	$ 0.255	$ 0.250	$ 0.250	$ 0.250	$ 0.250	$ 1.02	$ 1	$ 0.98
Shares used in per share calculations:
Basic	23,927	23,911	23,900	23,862	23,932	25,334	26,142	26,091	23,900	25,369	25,914
Diluted	24,123	24,041	23,949	23,911	24,015	25,408	26,273	26,276	23,976	25,457	26,175
Balance Sheet Data
Rental equipment, net	$ 856,371	$ 862,528	$ 868,422	$ 867,215	$ 869,601	$ 864,277	$ 856,489	$ 839,078	$ 856,371	$ 869,601	$ 825,750
Total assets	1,128,276	1,144,923	1,148,018	1,132,355	1,152,549	1,149,095	1,132,750	1,112,056	1,128,276	1,152,549
Notes payable	326,266	345,286	363,121	365,772	381,281	382,113	337,177	320,923	326,266	381,281
Shareholders' equity	$ 394,287	$ 390,600	$ 383,313	$ 380,512	$ 379,687	$ 389,464	$ 426,823	$ 425,848	$ 394,287	$ 379,687	$ 424,531	$ 401,030