McGrath RentCorp (MGRC) 10-K 26 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Feb. 25, 2019	Jun. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,018
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 Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		24,182,321
Entity Public Float			$ 1,515,726,679

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash	$ 1,508	$ 2,501
Accounts receivable, net of allowance for doubtful accounts of $1,883 in 2018 and $1,920 in 2017	121,016	105,872
Rental equipment, at cost:
Relocatable modular buildings	817,375	775,400
Electronic test equipment	285,052	262,325
Liquid and solid containment tanks and boxes	313,573	309,808
Rental equipment, gross	1,416,000	1,347,533
Less accumulated depreciation	(514,985)	(485,213)
Rental equipment, net	901,015	862,320
Property, plant and equipment, net	126,899	119,170
Prepaid expenses and other assets	31,816	22,459
Intangible assets, net	7,254	7,724
Goodwill	27,808	27,808
Total assets	1,217,316	1,147,854
Liabilities:
Notes payable	298,564	303,414
Accounts payable and accrued liabilities	90,844	86,408
Deferred income	49,709	39,219
Deferred income taxes, net	206,664	194,629
Total liabilities	645,781	623,670
Commitments and contingencies (Note 8)
Shareholders’ equity:
Common Stock, no par value - Authorized 40,000 shares Issued and outstanding - 24,182 shares as of December 31, 2018 and 24,052 shares as of December 31,2017	103,801	102,947
Retained earnings	467,783	421,405
Accumulated other comprehensive loss	(49)	(168)
Total shareholders’ equity	571,535	524,184
Total liabilities and shareholders’ equity	$ 1,217,316	$ 1,147,854

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 1,883	$ 1,920
Common stock, par value
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	24,182,000	24,052,000
Common Stock, shares outstanding	24,182,000	24,052,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Rental	$ 318,774	$ 289,417	$ 271,388
Rental related services	82,907	78,068	75,859
Rental operations	401,681	367,485	347,247
Revenues	96,649	94,549	76,833
Total revenues	498,330	462,034	424,080
Direct costs of rental operations:
Depreciation of rental equipment	73,139	69,908	72,197
Rental related services	64,298	60,029	59,044
Other	68,678	65,472	60,130
Total direct costs of rental operations	206,115	195,409	191,371
Cost of sales	58,964	60,280	48,542
Total costs of revenues	265,079	255,689	239,913
Gross profit	233,251	206,345	184,167
Selling and administrative expenses	115,770	111,605	104,908
Income from operations	117,481	94,740	79,259
Other income (expense):
Interest expense	(12,297)	(11,622)	(12,207)
Foreign currency exchange gain (loss)	(489)	334	(121)
Income before provision (benefit) for income taxes	104,695	83,452	66,931
Provision (benefit) for income taxes	25,289	(70,468)	28,680
Net income	$ 79,406	$ 153,920	$ 38,251
Earnings per share:
Basic	$ 3.29	$ 6.41	$ 1.60
Diluted	$ 3.24	$ 6.34	$ 1.60
Shares used in per share calculations:
Basic	24,141	23,999	23,900
Diluted	24,540	24,269	23,976
Cash dividends declared per share	$ 1.36	$ 1.04	$ 1.02
Sales [Member]
Revenues
Revenues	$ 92,618	$ 91,500	$ 74,410
Other [Member]
Revenues
Revenues	$ 4,031	$ 3,049	$ 2,423

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 79,406	$ 153,920	$ 38,251
Other comprehensive income (loss):
Foreign currency translation adjustment	161	(174)	24
Tax benefit (provision)	(42)	61	(12)
Comprehensive income	$ 79,525	$ 153,807	$ 38,263

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, 2015	$ 379,687	$ 101,046	$ 278,708	$ (67)
Balance, Shares at Dec. 31, 2015		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
Tax 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 $1.00, $1.02, $1.04 per share in 2015, 2016 and 2017	(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
Net income	7,973
Balance at Mar. 31, 2017	396,625
Balance at Dec. 31, 2016	394,287	$ 101,821	292,521	(55)
Balance, Shares at Dec. 31, 2016		23,948,000
Net income	153,920		153,920
Share-based compensation	3,198	$ 3,198
Common stock issued under stock Plans, net of shares withheld for employee taxes, Shares		104,000
Taxes paid related to net share settlement of stock awards	(2,072)	$ (2,072)
Dividends accrued of $1.00, $1.02, $1.04 per share in 2015, 2016 and 2017	(25,036)		(25,036)
Other comprehensive (loss) gain	(113)			(113)
Balance at Dec. 31, 2017	$ 524,184	$ 102,947	421,405	(168)
Balance, Shares at Dec. 31, 2017	24,052,000	24,052,000
Balance at Mar. 31, 2017	$ 396,625
Net income	11,461
Balance at Jun. 30, 2017	402,365
Net income	16,762
Balance at Sep. 30, 2017	412,782
Net income	117,724
Balance at Dec. 31, 2017	$ 524,184	$ 102,947	421,405	(168)
Balance, Shares at Dec. 31, 2017	24,052,000	24,052,000
Net income	$ 14,466
Balance at Mar. 31, 2018	530,284
Balance at Dec. 31, 2017	$ 524,184	$ 102,947	421,405	(168)
Balance, Shares at Dec. 31, 2017	24,052,000	24,052,000
Net income	$ 79,406		79,406
Share-based compensation	4,111	$ 4,111
Common stock issued under stock Plans, net of shares withheld for employee taxes, Shares		130,000
Taxes paid related to net share settlement of stock awards	(3,257)	$ (3,257)
Dividends accrued of $1.00, $1.02, $1.04 per share in 2015, 2016 and 2017	(33,028)		(33,028)
Other comprehensive (loss) gain	119			119
Balance at Dec. 31, 2018	$ 571,535	$ 103,801	467,783	(49)
Balance, Shares at Dec. 31, 2018	24,182,000	24,182,000
Balance at Mar. 31, 2018	$ 530,284
Net income	15,912
Balance at Jun. 30, 2018	537,195
Net income	24,779
Balance at Sep. 30, 2018	554,547
Net income	24,249
Balance at Dec. 31, 2018	$ 571,535	$ 103,801	$ 467,783	$ (49)
Balance, Shares at Dec. 31, 2018	24,182,000	24,182,000

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash dividends declared per share	$ 1.36	$ 1.04	$ 1.02
Retained Earnings [Member]
Cash dividends declared per share	$ 1.36	$ 1.04	$ 1.02

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash Flows from Operating Activities:
Net income	$ 79,406,000	$ 153,920,000	$ 38,251,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	81,975,000	78,416,000	81,179,000
Impairment of rental assets	39,000	1,639,000	0
Provision for doubtful accounts	581,000	1,480,000	1,892,000
Share-based compensation	4,111,000	3,198,000	3,091,000
Gain on sale of used rental equipment	(19,559,000)	(17,733,000)	(13,739,000)
Foreign currency exchanges (gain) loss	489,000	(334,000)	121,000
Amortization of debt issuance costs	20,000	50,000	51,000
Change in:
Accounts receivable	(15,725,000)	(10,475,000)	(3,752,000)
Income taxes receivable			11,000,000
Prepaid expenses and other assets	(9,351,000)	3,124,000	3,219,000
Accounts payable and accrued liabilities	(1,612,000)	4,015,000	10,426,000
Deferred income	10,258,000	1,720,000	1,211,000
Deferred income taxes	12,035,000	(96,631,000)	7,745,000
Net cash provided by operating activities	142,667,000	122,389,000	140,695,000
Cash Flows from Investing Activities:
Purchases of rental equipment	(123,071,000)	(94,579,000)	(79,038,000)
Purchases of property, plant and equipment	(15,664,000)	(14,617,000)	(10,548,000)
Cash paid for acquisition of business assets	(7,543,000)
Proceeds from sales of used rental equipment	41,786,000	38,344,000	29,406,000
Net cash used in investing activities	(104,492,000)	(70,852,000)	(60,180,000)
Cash Flows from Financing Activities:
Net borrowings (repayments) under bank lines of credit	15,130,000	(2,902,000)	(35,066,000)
Principal payments on Series A senior notes	(20,000,000)	(20,000,000)	(20,000,000)
Proceeds from the exercise of stock options			37,000
Taxes paid related to net share settlement of stock awards	(3,257,000)	(2,072,000)	(1,287,000)
Payment of dividends	(30,939,000)	(24,876,000)	(24,448,000)
Net cash used in financing activities	(39,066,000)	(49,850,000)	(80,764,000)
Effect of foreign currency exchange rate changes on cash	(102,000)	(38,000)	(2,000)
Net increase (decrease) in cash	(993,000)	1,649,000	(251,000)
Cash balance, beginning of period	2,501,000	852,000	1,103,000
Cash balance, end of period	1,508,000	2,501,000	852,000
Supplemental Disclosure of Cash Flow Information:
Interest paid, during the period	12,598,000	11,825,000	12,436,000
Net income taxes paid, during the period	18,157,000	29,504,000	15,555,000
Dividends accrued during the period, not yet paid	8,388,000	6,260,000	6,147,000
Rental equipment acquisitions, not yet paid	$ 9,695,000	$ 6,405,000	$ 2,876,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
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 Lease revenues - Rental revenues from operating leases are recognized on a straight-line basis over the term of the lease for all operating segments. Rental billings for periods extending beyond period end are recorded as deferred income and are recognized in the period earned. Rental related services revenues are primarily associated with relocatable modular building and liquid and solid containment tanks and boxes leases. For modular building leases, rental related services revenues for modifications, delivery, installation, dismantle and return delivery are lease related because the payments are considered minimum lease payments that are an integral part of the negotiated lease agreement with the customer. These revenues are recognized on a straight-line basis over the term of the lease. 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 revenues include interest income on sales-type leases and rental income on facility leases. Non-lease revenues - 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 leases 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, portable storage containers and tanks and boxes 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 Blast resistant modules 20 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 3 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 primarily 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. The Company recorded an impairment of modular rental equipment of $0.1 million and $1.6 million for the years ended December 31, 2018 and 2017, respectively. There were no impairments of long-lived assets during the year ended December 31, 2016. Other Direct Costs of Rental Operations Other direct costs of rental operations include direct labor, supplies, repairs, insurance, property taxes, license fees, impairment of rental equipment 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 expense 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 2018 2017 Land Indefinite $ 50,689 $ 50,689 Land improvements 20 – 50 50,064 43,337 Buildings 30 29,359 26,862 Furniture, office and computer equipment 3 – 10 33,081 32,118 Vehicles and machinery 5 – 25 38,199 34,597 201,392 187,603 Less accumulated depreciation (77,118 ) (70,034 ) 124,274 117,569 Construction in progress 2,625 1,601 $ 126,899 $ 119,170 Property, plant and equipment depreciation expense was $8.0 million, $7.6 million and $8.1 million for the years ended December 31, 2018, 2017 and 2016, respectively. Construction in progress at December 31, 2018 and 2017 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, training and post implementation 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 $0.1 million and $0.8 million in internal use software during the years ended December 31, 2018 and 2017, respectively. Advertising Costs Advertising costs are expensed as incurred. Total advertising expenses were $3.2 million, $2.9 million and $2.9 million for the years ended December 31, 2018, 2017 and 2016. 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 “Provision for income taxes” 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, 2018 and 2017, goodwill and trade name intangible assets which have indefinite lives totaled $33.7 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 2018, 2017 or 2016. 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, 2018 2017 2016 Weighted-average common stock for calculating basic earnings per share 24,141 23,999 23,900 Effect of potentially dilutive securities from equity-based compensation 399 270 76 Weighted-average common stock for calculating diluted earnings per share 24,540 24,269 23,976 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, 2018 2017 2016 Options to purchase common stock — 7 661 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. There were no repurchases of common stock during the twelve months ended December 31, 2018 and 2017. As of December 31, 2018, 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 $32.3 million at December 31, 2018 and $30.1 million at December 31, 2017. 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) 2018 2017 Beginning balance, January 1 $ 1,920 $ 2,087 Provision for doubtful accounts 581 1,480 Write-offs, net of recoveries (618 ) (1,647 ) Ending balance, December 31 $ 1,883 $ 1,920 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 $99.0 million and $120.2 million compared to the recorded value of $100.0 million and $120.0 million as of December 31, 2018 and 2017, 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”), functioned as a rental and sales office for TRS-RenTelco in India, which commenced its closure during 2017. 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 6 –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. New Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“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 A majority of the Company’s revenues for the year ended December 31, 2018 were accounted for under the current lease accounting guidance under Topic 840 (see Note 2. Implemented Accounting Pronouncements - Revenue from Contracts with Customers for further discussion). In December 2018, the FASB issued ASU No. 2018-20, Leases (Topic 842): Narrow-Scope Improvements for Lessors, which is expected to reduce a lessor’s implementation and ongoing costs associated with applying the new leases standard. The ASU also clarifies a specific lessor accounting requirement. Specifically, this ASU addresses the following issues facing lessors when applying the leases standard: Sales taxes and other similar taxes collected from lessees, certain lessor costs paid directly by lessees and recognition of variable payments for contracts with lease and non-lease components. Under the new guidance, lessor accounting is largely unchanged and the Company has concluded that no significant changes are expected to the accounting for revenues upon adoption of Topic 842. In August 2018, the FASB issued ASU No. 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. Under this ASU, entities should account for costs associated with implementing a cloud computing arrangement that is considered a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The Company expects to early adopt this guidance in 2019, which is not expected to have a material impact on its consolidated financial statements.

Implemented Accounting Pronounc

Implemented Accounting Pronouncements	12 Months Ended
	Dec. 31, 2018
Accounting Changes And Error Corrections [Abstract]
Implemented Accounting Pronouncements	NOTE 2. IMPLEMENTED ACCOUNTING PRONOUNCEMENTS Revenue from Contracts with Customers The Company’s accounting for revenues is governed by two accounting standards. The majority of the Company’s revenues are considered lease or lease related and are accounted for in accordance with Topic 840, Leases. Revenues determined to be non-lease related are accounted for in accordance with ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which was adopted by the Company on January 1, 2018. The Company utilized the modified retrospective method of adoption and there was no impact on its condensed consolidated financial statements, nor was there a cumulative effect of initially applying the new standard. The Company accounts for revenues when approval and commitment from both parties have been obtained, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. The Company typically recognizes non-lease related revenues at a point in time because the customer does not simultaneously consume the benefits of the Company’s promised goods and services, or performance obligations, and obtain control when delivery and installation are complete. For contracts that have multiple performance obligations, the transaction price is allocated to each performance obligation in the contract based on the Company’s best estimate of the standalone selling prices of each distinct performance obligation in the contract. The standalone selling price is typically determined based upon the expected cost plus an estimated margin of each performance obligation. The Company generally rents and sells to customers on 30 day payment terms. The Company does not typically offer variable payment terms, or accept non-monetary consideration. Amounts billed and due from the Company’s customers are classified as Accounts receivable on the Company’s consolidated balance sheet. For certain sales of modular buildings, progress payments from the customer are received during the manufacturing of new equipment, or the preparation of used equipment. The advance payments are not considered a significant financing component because the payments are used to meet working capital needs during the contract and to protect the Company from the customer failing to adequately complete their obligations under the contract. These contract liabilities are included in Deferred income on the Company’s consolidated balance sheet and totaled $15.7 million and $6.8 million at December 31, 2018 and 2017, respectively. Sales revenues totaling $5.8 million were recognized during the year ended December 31, 2018, which were included in the contract liability balance at December 31, 2017. For certain modular building sales, the customer retains a small portion of the contract price until full completion of the contract, which results in revenue earned in excess of billings. These unbilled contract assets are included in Accounts receivable on the Company’s consolidated balance sheet and totaled $1.4 million and $2.0 million at December 31, 2018 and 2017, respectively. Lease Revenues Rental revenues from operating leases are recognized on a straight-line basis over the term of the lease for all operating segments. Rental billings for periods extending beyond period end are recorded as deferred income and are recognized in the period earned. Rental related services revenues are primarily associated with relocatable modular building and liquid and solid containment tanks and boxes leases. For modular building leases, rental related services revenues for modifications, delivery, installation, dismantle and return delivery are lease related because the payments are considered minimum lease payments that are an integral part of the negotiated lease agreement with the customer. These revenues are recognized on a straight-line basis over the term of the lease. 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 revenues include interest income on sales-type leases and rental income on facility leases. Non-Lease Revenues Non-lease revenues are recognized in the period when control of the performance obligation is transferred, in an amount that reflects the consideration the Company expects to be entitled to receive in exchange for those goods or services. For liquid and solid containment solutions, portable storage containers and electronic test equipment, rental related services revenues for delivery and return delivery are considered non-lease revenues. Sales revenues are typically recognized at a point in time, which occurs upon the completion of delivery, installation and acceptance of the equipment by the customer. Accounting for non-lease revenues requires judgment in determining the point in time the customer gains control of the equipment and the appropriate accounting period to recognize revenue. Sales taxes charged to customers are reported on a net basis and are excluded from revenues and expenses. The following table disaggregates the Company’s revenues by lease (within the scope of Topic 840) and non-lease revenues (within the scope of Topic 606) and the underlying service provided for the three years ended December 31, 2018, 2017 and 2016: (in thousands) Mobile Modular TRS- RenTelco Adler Tanks Enviroplex Consolidated Twelve Months Ended December 31, 2018 Leasing $ 200,214 $ 94,345 $ 70,653 $ — $ 365,212 Non-lease: Rental related services 14,870 2,607 24,276 — 41,753 Sales 39,467 19,895 1,044 29,046 89,452 Other 23 1,810 80 — 1,913 Total non-lease 54,360 24,312 25,400 29,046 133,118 Total revenues $ 254,574 $ 118,657 $ 96,053 $ 29,046 $ 498,330 2017 Leasing $ 180,612 $ 85,930 $ 64,676 $ — $ 331,218 Non-lease: Rental related services 13,331 2,358 24,322 — 40,011 Sales 37,434 18,137 2,362 31,369 89,302 Other (111 ) 1,619 (5 ) — 1,503 Total non-lease 50,654 22,114 26,679 31,369 130,816 Total revenues $ 231,266 $ 108,044 $ 91,355 $ 31,369 $ 462,034 2016 Leasing $ 168,787 $ 87,085 $ 59,217 $ — $ 315,089 Non-lease: Rental related services 11,326 2,292 23,292 — 36,910 Sales 29,393 17,675 1,314 22,121 70,503 Other 6 1,565 7 — 1,578 Total non-lease 40,725 21,532 24,613 22,121 108,991 Total revenues $ 209,512 $ 108,617 $ 83,830 $ 22,121 $ 424,080 Customer returns of rental equipment prior to the end of the rental contract term are typically billed a cancellation fee, which is recorded as rental revenue in the period billed. 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. The Company’s incremental cost of obtaining lease contracts, which consists of salesperson commissions, are deferred and amortized over the initial lease term for modular building leases. Incremental costs for obtaining a contract for all other operating segments are expensed in the period incurred because the lease term is typically less than 12 months.

Financed Lease Receivables

Financed Lease Receivables	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
Financed Lease Receivables	NOTE 3. 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, 2018 2017 Gross minimum lease payments receivable $ 2,419 $ 2,150 Less – unearned interest (249 ) (201 ) Net investment in sales type lease receivables $ 2,170 $ 1,949 As of December 31, 2018, the future minimum lease payments under non-cancelable sales-type leases to be received in 2019 and thereafter are as follows: (in thousands) Year Ended December 31, 2019 $ 1,765 2020 419 2021 157 2022 78 Total minimum future lease payments $ 2,419

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Notes Payable	NOTE 4. NOTES PAYABLE Notes payable consists of the following: (in thousands) December 31, 2018 2017 Unsecured revolving lines of credit $ 198,603 $ 183,473 4.03% Series A senior notes due in 2018 — 20,000 3.68% Series B senior notes due in 2021 40,000 40,000 3.84% Series C senior notes due in 2022 60,000 60,000 298,603 303,473 Unamortized debt issuance cost (39 ) (59 ) $ 298,564 $ 303,414 As of December 31, 2018, the future minimum payments under the unsecured revolving lines of credit, 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, 2019 $ — 2020 — 2021 238,603 2022 60,000 $ 298,603 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, 2017, 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 $198.6 million was outstanding, and had capacity to borrow up to an additional $233.4 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, 2018, the actual ratio was 4.11 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, 2018, the actual ratio was 1.47 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, 2018, such sum was $366.8 million and the actual Tangible Net Worth of the Company was $536.5 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, 2018 and 2017, the applicable margins were 1.25% for LIBOR based loans, 0.25% for base rate loans and 0.20% for unused fees. 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, 2018 2017 Maximum amount outstanding $ 228,500 $ 215,732 Average amount outstanding $ 204,534 $ 199,499 Weighted average interest rate, during the period 3.36 % 2.64 % Prime interest rate, end of period 5.50 % 4.50 % 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 were an unsecured obligation of the Company, due on April 21, 2018. Interest on these notes was due semi-annually in arrears and the principal was due in five equal annual installments, with the first payment due on April 21, 2014. In addition, the Note Purchase Agreement allowed for the issuance and sale of additional senior notes to the Purchaser (the “Shelf Notes”) in the aggregate principal amount of $100.0 million, to mature no more than 12 years after the date of original issuance thereof, to have an average life of no more than 10 years and to bear interest on the unpaid balance. The final $20.0 million principal payment under the Series A Senior Notes was made in April 2018 with no amount remaining outstanding as of December 31, 2018. At December 31, 2017, the principal balance outstanding under the Series A Senior Notes was $20 million. 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 principal balance is due when the notes mature in 2021. The full net proceeds from the Series B Senior Notes were used for working capital and other general corporate purposes. At December 31, 2018 and 2017, 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 principal balance is due when the notes mature in 2022. 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, 2018 and 2017, 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, 2018, the actual ratio was 4.11 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, 2018, the actual ratio was 1.47 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, 2018, such sum was $366.8 million and the actual Tangible Net Worth of the Company was $536.5 million. At December 31, 2018, 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, 2018
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 5. INCOME TAXES Income before (benefit) provision for income taxes consisted of the following: (in thousands) Year Ended December 31, 2018 2017 2016 U.S. $ 104,881 $ 83,525 $ 67,199 Foreign (186 ) (73 ) (268 ) $ 104,695 $ 83,452 $ 66,931 The (benefit) provision for income taxes consisted of the following: (in thousands) Year Ended December 31, 2018 2017 2016 Current: U.S. Federal $ 7,270 $ 21,171 $ 17,203 State 4,253 2,976 2,049 Foreign 1,731 2,016 1,683 13,254 26,163 20,935 Deferred: U.S. Federal 10,355 (103,518 ) 4,005 State 1,637 6,948 3,039 Foreign 43 (61 ) 701 12,035 (96,631 ) 7,745 Total $ 25,289 $ (70,468 ) $ 28,680 The reconciliation of the U.S. federal statutory tax rate to the Company’s effective tax rate is as follows: Year Ended December 31, 2018 2017 2016 U.S. federal statutory rate 21.0 % 35.0 % 35.0 % State taxes, net of federal benefit 5.0 4.1 4.2 State deferred tax rate change, net of federal benefit 0.7 0.5 2.0 Valuation allowance (0.5 ) 0.1 1.1 Share-based compensation (1.9 ) (1.0 ) — Enactment of the Tax Cuts and Jobs Act (0.1 ) (122.9 ) — Other 0.0 (0.2 ) 0.6 24.2 % (84.4 )% 42.9 % 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, 2018 2017 Deferred tax liabilities: Accelerated depreciation $ 208,539 $ 195,694 Prepaid costs currently deductible 4,845 4,152 Other 4,703 4,405 Total deferred tax liabilities 218,087 204,251 Deferred tax assets: Accrued costs not yet deductible 7,796 7,880 Allowance for doubtful accounts 486 484 Deferred revenues 1,774 213 Share-based compensation 1,367 1,045 Total deferred tax assets, net of valuation allowance of $0.2 million in 2018 and $0.8 million in 2017 11,423 9,622 Deferred income taxes, net $ 206,664 $ 194,629 The Tax Cuts and Jobs Act (the “Tax Act”) was enacted in December 2017. Among other provisions, the Tax Act reduced the U.S. federal corporate tax rate from 35% to 21% in 2018, required companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred and created new taxes on certain foreign-source earnings. As of December 31, 2018, the Company completed its accounting for the tax effects of enactment of the Tax Act without any material adjustments to its previous estimate of the one-time transition tax. As of December 31, 2018 the Company does not have a deferred tax liability related to its foreign earnings because it does not currently have any specific plans to repatriate funds from its international subsidiaries. The Company may do so in the future if a dividend can be remitted with no material tax impact. 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 began in 2017. As a result, a valuation allowance was recorded against the deferred tax assets that resulted primarily from accumulated net operating loss carry forwards in India as of December 31, 2018 that management estimated the benefit of which will not be realized. As of December 31, 2018, the Company’s foreign net operating losses for tax purposes were $0.6 million. If not realized, these carry forwards will begin to expire in 2023. For income tax purposes, deductible compensation related to share-based awards is based on the value of the award when realized, which may be different than the compensation expense recognized by the company for financial statement purposes which is based on the award value on the date of grant. The difference between the value of the award upon grant, and the value of the award when ultimately realized, creates either additional tax expense or benefit. In 2018 and 2017, exercise of share-based awards by employees resulted in an excess tax benefit of $2.0 million and $0.9 million, respectively. In 2016 share-based awards by employees resulted in a tax shortfall of $1.1 million, which was recorded to equity. 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, 2018 and 2017. In addition, there have been no material changes in unrecognized benefits during 2018, 2017 and 2016. 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 2014. 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 (benefit) for income taxes in the accompanying Consolidated Statements of Income for all periods presented. Such interest and penalties were not significant for the years ended December 31, 2018, 2017 and 2016.

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Benefit Plans	NOTE 6. 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 2016 Plan by two shares. There were no modifications to the 2016 Plan and no awards classified as liabilities in the year ended December 31, 2018. For the years ended December 31, 2018, 2017 and 2016, the share-based compensation expense was $4.1 million, $3.2 million and $3.1 million, respectively, before provision for income taxes. The Company recorded a tax benefit of approximately $1.1 million, $1.3 million and $1.2 million, respectively, related to the aforementioned share-based compensation expenses. There was no capitalized share-based compensation expense in the years ended December 31, 2018, 2017 and 2016. Stock Options As of December 31, 2018, a cumulative total of 8,458,600 shares subject to options have been granted with exercise prices ranging from $3.47 to $40.37. Of these, options have been exercised for the purchase of 5,953,688 shares, while options for 1,659,312 shares have been terminated, and options for 845,600 shares with exercise prices ranging from $24.60 to $40.37 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, 2018, 1,962,804 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, 2018 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, 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 Options granted 299,600 34.66 Options exercised (398,275 ) 28.94 Options cancelled/forfeited/expired (276,900 ) 28.04 Balance at December 31, 2017 1,208,860 28.14 Options granted — — Options exercised (332,810 ) 29.49 Options cancelled/forfeited/expired (30,450 ) 28.27 Balance at December 31, 2018 845,600 $ 29.57 4.18 $ 18.6 Exercisable at December 31, 2018 303,225 $ 29.71 3.78 $ 6.6 Expected to vest after December 31, 2018 517,884 $ 29.50 4.41 $ 11.4 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 $10.6 million, $6.2 million and $4.2 million for the years ended December 31, 2018, 2017 and 2016, respectively, determined as of the date of option exercise. As of December 31, 2018, there was approximately $2.6 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 1.9 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, 2018: Options Outstanding Options Exercisable Exercise price Number outstanding at December 2018 Weighted- average remaining contractual life (Years) Weighted- average grant date value Number exercisable at December 31, 2018 Weighted- average grant date value $20 – 25 349,990 4.17 $ 24.60 109,150 $ 24.60 $25 – 30 33,970 2.19 $ 27.99 24,460 $ 29.10 $30 – 35 448,300 4.32 $ 33.31 165,675 $ 33.03 $35 – 40 7,900 4.58 $ 38.83 3,600 $ 38.56 $40 – 45 5,440 5.67 $ 40.37 340 $ 40.37 $20 – 45 845,600 4.18 $ 29.57 303,225 $ 29.71 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, 2018 2017 2016 Expected term (in years) — 5.0 5.0 Expected volatility — 26.1 % 28.7 % Expected dividend yields — 3.0 % 4.1 % Risk-free interest rates — 2.0 % 1.2 % The Company monitors option exercise behavior to determine the appropriate homogenous groups for estimation purposes. 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 was based on historical stock price volatility of the Company and the risk-free interest rates were 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 was based upon the current dividend annualized as a percentage of the grant exercise price. No options were granted in 2018. The weighted average grant date fair value per share was $6.28 and $4.14 during the years ended December 31, 2017 and 2016, 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, 2018: Weighted- Aggregate average intrinsic Number grant date value of shares fair value (in millions) 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 RSUs granted 70,960 34.53 RSUs vested (36,336 ) 26.99 RSUs cancelled/forfeited/expired (66,200 ) 32.63 Balance at December 31, 2017 93,664 33.62 RSUs granted 97,260 49.47 RSUs vested (30,214 ) 33.16 RSUs cancelled/forfeited/expired (21,200 ) 33.88 Balance at December 31, 2018 139,510 $ 44.73 $ 7.2 Performance-based RSUs issued prior to 2018 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. The 2018 performance-based RSU grants vest after three years with 100% of the shares vesting immediately when performance criteria has been determined to have been met. There were 130,730 performance-based RSUs expected to vest as of December 31, 2018. Service-based RSUs issued to the Company’s directors generally vest over twelve to fourteen months. Service–based RSUs issued to the Company’s management vest over three years. There were 48,710 service-based RSUs expected to vest as of December 31, 2018. No forfeitures are currently expected. The total fair value of RSUs that vested during the years ended December 31, 2018, 2017 and 2016 based on the weighted average grant date values was $1.0 million, $1.0 million and $1.8 million, respectively. Share-based compensation expense for RSUs for the year ended December 31, 2018, 2017 and 2016 was $2.6 million, $1.4 million and $1.0, respectively. As of December 31, 2018, the total unrecognized compensation expense related to unvested RSUs was $5.2 million and is expected to be recognized over a weighted-average period of 2.6 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. Each employee who has at least three months of service with the Company and is 21 years or older, is eligible to participate in the KSOP. 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, 2018 dividends deducted by the Company were $0.3 million, which resulted in a tax benefit of approximately $0.1 million in 2018. At December 31, 2018, the KSOP held 243,007 shares, or 1% 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, 2018
Equity [Abstract]
Shareholders' Equity	NOTE 7. SHAREHOLDERS’ EQUITY 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 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. There were no repurchases of common stock during the twelve months ended December 31, 2018 and 2017. As of December 31, 2018, 1,592,026 shares remain authorized for repurchase under this authorization.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 8. 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, 2019 $ 2,979 2020 2,111 2021 1,713 2022 1,445 2023 1,089 Thereafter 1,142 $ 10,479 Facility rent expense was $3.5 million in 2018, 2017 and 2016. 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 $200,000 and $350,000 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, 2018 and 2017, accruals for the Company’s health and workers’ compensation high deductible plans were $3.0 million and $2.9 million, respectively.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	NOTE 9. INTANGIBLE ASSETS Intangible assets consist of the following: (dollar amounts in thousands) Estimated useful life December 31, (In years) 2018 2017 Trade name Indefinite $ 5,871 $ 5,700 Customer relationships 11 9,849 9,611 15,720 15,311 Less accumulated amortization (8,466 ) (7,587 ) $ 7,254 $ 7,724 Intangible assets with finite useful lives are amortized over their respective useful lives. Amortization expense in each of the years ended December 31, 2018, 2017 and 2016 were $0.9 million. Based on the carrying values at December 31, 2018 and assuming no subsequent impairment of the underlying assets, the annual amortization is expected to be $0.9 million in 2019 and $0.1 million in 2020 through 2025.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 10. RELATED PARTY TRANSACTIONS There were no related party transactions in the years ended December 31, 2018 and 2017, or amounts owed to related parties at such dates.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Segment Reporting	NOTE 11. 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, 2018, 2017 and 2016, 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, 2018 Rental revenues $ 159,136 $ 89,937 $ 69,701 $ — $ 318,774 Rental related services revenues 54,696 3,300 24,911 — 82,907 Sales and other revenues 40,742 25,420 1,441 29,046 96,649 Total revenues 254,574 118,657 96,053 29,046 498,330 Depreciation of rental equipment 21,200 36,011 15,928 — 73,139 Gross profit 120,750 54,773 48,055 9,673 233,251 Selling and administrative expenses 58,017 22,823 30,026 4,904 115,770 Income from operations 62,733 31,950 18,029 4,769 117,481 Interest expense (income) allocation (7,132 ) (2,696 ) (3,252 ) 783 (12,297 ) Income before provision for income taxes 55,601 28,765 14,777 5,552 104,695 Rental equipment acquisitions 63,374 65,467 5,257 — 134,098 Accounts receivable, net (period end) 72,295 20,732 19,992 7,997 121,016 Rental equipment, at cost (period end) 817,375 285,052 313,573 — 1,416,000 Rental equipment, net book value (period end) 572,032 131,450 197,533 — 901,015 Utilization (period end) 2 79.3 % 62.1 % 56.4 % Average utilization 2 78.2 % 62.7 % 59.9 % Segment Data (Continued) (dollar amounts in thousands) Mobile Modular TRS- RenTelco Adler Tanks Enviroplex 1 Consolidated Year Ended December 31, 2017 Rental revenues $ 142,584 $ 82,812 $ 64,021 $ — $ 289,417 Rental related services revenues 50,448 2,858 24,762 — 78,068 Sales and other revenues 38,234 22,374 2,572 31,369 94,549 Total revenues 231,266 108,044 91,355 31,369 462,034 Depreciation of rental equipment 21,247 32,891 15,770 — 69,908 Gross profit 103,935 50,289 43,218 8,903 206,345 Selling and administrative expenses 55,583 22,171 29,542 4,309 111,605 Income from operations 48,352 28,118 13,676 4,594 94,740 Interest expense (income) allocation (6,671 ) (2,320 ) (3,071 ) 440 (11,622 ) Income before benefit for income taxes 41,681 26,132 10,605 5,034 83,452 Rental equipment acquisitions 34,526 58,781 4,800 — 98,107 Accounts receivable, net (period end) 59,274 19,581 18,663 8,354 105,872 Rental equipment, at cost (period end) 775,400 262,325 309,808 — 1,347,533 Rental equipment, net book value (period end) 543,857 109,482 208,981 — 862,320 Utilization (period end) 2 77.8 % 61.7 % 57.5 % Average utilization 2 76.8 % 62.9 % 56.0 % 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 % 1 Gross Enviroplex sales revenues were $30,407, $31,369 and $22,206 in 2018, 2017 and 2016, respectively. There were $1,361 and $85 inter-segment sales to Mobile Modular in 2018 and 2016, respectively, which have been eliminated in consolidation. There were no inter-segment sales in 2017. 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 2018, 2017 and 2016. Revenue from foreign country customers accounted for 4%, 4% and 5% of the Company’s revenues for the same periods, respectively.

Quarterly Financial Information

Quarterly Financial Information	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	NOTE 12. QUARTERLY FINANCIAL INFORMATION (unaudited) Quarterly financial information for each of the two years ended December 31, 2018 is summarized below: (in thousands, except per share amounts) 2018 First Second Third Fourth Year Operations Data Rental revenues $ 74,261 $ 77,267 $ 82,155 $ 85,091 $ 318,774 Total revenues 105,085 116,983 143,147 133,115 498,330 Gross profit 50,170 53,928 64,050 65,103 233,251 Income from operations 22,042 24,449 35,824 35,166 117,481 Income before provision for income taxes 19,018 21,106 32,553 32,018 104,695 Net income 14,466 15,912 24,779 24,249 79,406 Earnings per share: Basic $ 0.60 $ 0.66 $ 1.03 $ 1.00 $ 3.29 Diluted $ 0.59 $ 0.65 $ 1.01 $ 0.99 $ 3.24 Dividends declared per share $ 0.34 $ 0.34 $ 0.34 $ 0.34 $ 1.36 Shares used in per share calculations: Basic 24,067 24,145 24,172 24,179 24,141 Diluted 24,478 24,584 24,563 24,514 24,540 Balance Sheet Data Rental equipment, net $ 865,338 $ 876,522 $ 888,607 $ 901,015 $ 901,015 Total assets 1,148,858 1,180,209 1,201,799 1,217,316 1,217,316 Notes payable 300,595 314,860 309,006 298,564 298,564 Shareholders’ equity 530,284 537,195 554,547 571,535 571,535 2017 First Second Third Fourth Year Operations Data Rental revenues $ 67,978 $ 69,953 $ 73,781 $ 77,705 $ 289,417 Total revenues 94,837 109,582 135,388 122,227 462,034 Gross profit 43,670 49,211 58,775 54,689 206,345 Income from operations 15,822 21,846 30,286 26,786 94,740 Income before provision (benefit) for income taxes 13,259 18,908 27,336 23,949 83,452 Net income 7,973 11,461 16,762 117,724 153,920 Earnings per share: Basic $ 0.33 $ 0.48 $ 0.70 $ 4.90 $ 6.41 Diluted $ 0.33 $ 0.48 $ 0.69 $ 4.82 $ 6.34 Dividends declared per share $ 0.26 $ 0.26 $ 0.26 $ 0.26 $ 1.04 Shares used in per share calculations: Basic 23,950 23,985 24,015 24,044 23,999 Diluted 24,232 24,092 24,228 24,410 24,269 Balance Sheet Data Rental equipment, net $ 856,981 $ 863,207 $ 865,724 $ 862,320 $ 862,320 Total assets 1,130,734 1,150,123 1,156,415 1,147,854 1,147,854 Notes payable 323,483 330,287 323,117 303,414 303,414 Shareholders’ equity 396,625 402,365 412,782 524,184 524,184

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
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 Lease revenues - Rental revenues from operating leases are recognized on a straight-line basis over the term of the lease for all operating segments. Rental billings for periods extending beyond period end are recorded as deferred income and are recognized in the period earned. Rental related services revenues are primarily associated with relocatable modular building and liquid and solid containment tanks and boxes leases. For modular building leases, rental related services revenues for modifications, delivery, installation, dismantle and return delivery are lease related because the payments are considered minimum lease payments that are an integral part of the negotiated lease agreement with the customer. These revenues are recognized on a straight-line basis over the term of the lease. 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 revenues include interest income on sales-type leases and rental income on facility leases. Non-lease revenues - 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 leases 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, portable storage containers and tanks and boxes 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 Blast resistant modules 20 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 3 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 primarily 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. The Company recorded an impairment of modular rental equipment of $0.1 million and $1.6 million for the years ended December 31, 2018 and 2017, respectively. There were no impairments of long-lived assets during the year ended December 31, 2016.
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, impairment of rental equipment 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 expense 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 2018 2017 Land Indefinite $ 50,689 $ 50,689 Land improvements 20 – 50 50,064 43,337 Buildings 30 29,359 26,862 Furniture, office and computer equipment 3 – 10 33,081 32,118 Vehicles and machinery 5 – 25 38,199 34,597 201,392 187,603 Less accumulated depreciation (77,118 ) (70,034 ) 124,274 117,569 Construction in progress 2,625 1,601 $ 126,899 $ 119,170 Property, plant and equipment depreciation expense was $8.0 million, $7.6 million and $8.1 million for the years ended December 31, 2018, 2017 and 2016, respectively. Construction in progress at December 31, 2018 and 2017 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, training and post implementation 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 $0.1 million and $0.8 million in internal use software during the years ended December 31, 2018 and 2017, respectively.
Advertising Costs	Advertising Costs Advertising costs are expensed as incurred. Total advertising expenses were $3.2 million, $2.9 million and $2.9 million for the years ended December 31, 2018, 2017 and 2016.
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 “Provision for income taxes” 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, 2018 and 2017, goodwill and trade name intangible assets which have indefinite lives totaled $33.7 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 2018, 2017 or 2016. 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, 2018 2017 2016 Weighted-average common stock for calculating basic earnings per share 24,141 23,999 23,900 Effect of potentially dilutive securities from equity-based compensation 399 270 76 Weighted-average common stock for calculating diluted earnings per share 24,540 24,269 23,976 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, 2018 2017 2016 Options to purchase common stock — 7 661 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. There were no repurchases of common stock during the twelve months ended December 31, 2018 and 2017. As of December 31, 2018, 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 $32.3 million at December 31, 2018 and $30.1 million at December 31, 2017. 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) 2018 2017 Beginning balance, January 1 $ 1,920 $ 2,087 Provision for doubtful accounts 581 1,480 Write-offs, net of recoveries (618 ) (1,647 ) Ending balance, December 31 $ 1,883 $ 1,920 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 $99.0 million and $120.2 million compared to the recorded value of $100.0 million and $120.0 million as of December 31, 2018 and 2017, 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”), functioned as a rental and sales office for TRS-RenTelco in India, which commenced its closure during 2017. 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 6 –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.
New Accounting Pronouncements	New Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“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 A majority of the Company’s revenues for the year ended December 31, 2018 were accounted for under the current lease accounting guidance under Topic 840 (see Note 2. Implemented Accounting Pronouncements - Revenue from Contracts with Customers for further discussion). In December 2018, the FASB issued ASU No. 2018-20, Leases (Topic 842): Narrow-Scope Improvements for Lessors, which is expected to reduce a lessor’s implementation and ongoing costs associated with applying the new leases standard. The ASU also clarifies a specific lessor accounting requirement. Specifically, this ASU addresses the following issues facing lessors when applying the leases standard: Sales taxes and other similar taxes collected from lessees, certain lessor costs paid directly by lessees and recognition of variable payments for contracts with lease and non-lease components. Under the new guidance, lessor accounting is largely unchanged and the Company has concluded that no significant changes are expected to the accounting for revenues upon adoption of Topic 842. In August 2018, the FASB issued ASU No. 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. Under this ASU, entities should account for costs associated with implementing a cloud computing arrangement that is considered a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The Company expects to early adopt this guidance in 2019, which is not expected to have a material impact on its consolidated financial statements.
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 Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
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 Blast resistant modules 20 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 3 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 2018 2017 Land Indefinite $ 50,689 $ 50,689 Land improvements 20 – 50 50,064 43,337 Buildings 30 29,359 26,862 Furniture, office and computer equipment 3 – 10 33,081 32,118 Vehicles and machinery 5 – 25 38,199 34,597 201,392 187,603 Less accumulated depreciation (77,118 ) (70,034 ) 124,274 117,569 Construction in progress 2,625 1,601 $ 126,899 $ 119,170
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, 2018 2017 2016 Weighted-average common stock for calculating basic earnings per share 24,141 23,999 23,900 Effect of potentially dilutive securities from equity-based compensation 399 270 76 Weighted-average common stock for calculating diluted earnings per share 24,540 24,269 23,976
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, 2018 2017 2016 Options to purchase common stock — 7 661
Summary of Allowance for Doubtful Accounts Activity	The allowance for doubtful accounts activity was as follows: (in thousands) 2018 2017 Beginning balance, January 1 $ 1,920 $ 2,087 Provision for doubtful accounts 581 1,480 Write-offs, net of recoveries (618 ) (1,647 ) Ending balance, December 31 $ 1,883 $ 1,920

Implemented Accounting Pronou_2

Implemented Accounting Pronouncements (Tables)	12 Months Ended
	Dec. 31, 2018
Disaggregation Of Revenue [Abstract]
Summary of Disaggregates the Company's Revenue by Lease and Non Lease	The following table disaggregates the Company’s revenues by lease (within the scope of Topic 840) and non-lease revenues (within the scope of Topic 606) and the underlying service provided for the three years ended December 31, 2018, 2017 and 2016: (in thousands) Mobile Modular TRS- RenTelco Adler Tanks Enviroplex Consolidated Twelve Months Ended December 31, 2018 Leasing $ 200,214 $ 94,345 $ 70,653 $ — $ 365,212 Non-lease: Rental related services 14,870 2,607 24,276 — 41,753 Sales 39,467 19,895 1,044 29,046 89,452 Other 23 1,810 80 — 1,913 Total non-lease 54,360 24,312 25,400 29,046 133,118 Total revenues $ 254,574 $ 118,657 $ 96,053 $ 29,046 $ 498,330 2017 Leasing $ 180,612 $ 85,930 $ 64,676 $ — $ 331,218 Non-lease: Rental related services 13,331 2,358 24,322 — 40,011 Sales 37,434 18,137 2,362 31,369 89,302 Other (111 ) 1,619 (5 ) — 1,503 Total non-lease 50,654 22,114 26,679 31,369 130,816 Total revenues $ 231,266 $ 108,044 $ 91,355 $ 31,369 $ 462,034 2016 Leasing $ 168,787 $ 87,085 $ 59,217 $ — $ 315,089 Non-lease: Rental related services 11,326 2,292 23,292 — 36,910 Sales 29,393 17,675 1,314 22,121 70,503 Other 6 1,565 7 — 1,578 Total non-lease 40,725 21,532 24,613 22,121 108,991 Total revenues $ 209,512 $ 108,617 $ 83,830 $ 22,121 $ 424,080

Financed Lease Receivables (Tab

Financed Lease Receivables (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 2017 Gross minimum lease payments receivable $ 2,419 $ 2,150 Less – unearned interest (249 ) (201 ) Net investment in sales type lease receivables $ 2,170 $ 1,949
Future Minimum Lease Payments under Non-Cancelable Sales-Type Leases	As of December 31, 2018, the future minimum lease payments under non-cancelable sales-type leases to be received in 2019 and thereafter are as follows: (in thousands) Year Ended December 31, 2019 $ 1,765 2020 419 2021 157 2022 78 Total minimum future lease payments $ 2,419

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Components of Notes Payable	Notes payable consists of the following: (in thousands) December 31, 2018 2017 Unsecured revolving lines of credit $ 198,603 $ 183,473 4.03% Series A senior notes due in 2018 — 20,000 3.68% Series B senior notes due in 2021 40,000 40,000 3.84% Series C senior notes due in 2022 60,000 60,000 298,603 303,473 Unamortized debt issuance cost (39 ) (59 ) $ 298,564 $ 303,414
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, 2018, the future minimum payments under the unsecured revolving lines of credit, 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, 2019 $ — 2020 — 2021 238,603 2022 60,000 $ 298,603
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, 2018 2017 Maximum amount outstanding $ 228,500 $ 215,732 Average amount outstanding $ 204,534 $ 199,499 Weighted average interest rate, during the period 3.36 % 2.64 % Prime interest rate, end of period 5.50 % 4.50 %

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of Income Before (Benefit) Provision For Income Taxes	Income before (benefit) provision for income taxes consisted of the following: (in thousands) Year Ended December 31, 2018 2017 2016 U.S. $ 104,881 $ 83,525 $ 67,199 Foreign (186 ) (73 ) (268 ) $ 104,695 $ 83,452 $ 66,931
(Benefit) Provision for Income Taxes	The (benefit) provision for income taxes consisted of the following: (in thousands) Year Ended December 31, 2018 2017 2016 Current: U.S. Federal $ 7,270 $ 21,171 $ 17,203 State 4,253 2,976 2,049 Foreign 1,731 2,016 1,683 13,254 26,163 20,935 Deferred: U.S. Federal 10,355 (103,518 ) 4,005 State 1,637 6,948 3,039 Foreign 43 (61 ) 701 12,035 (96,631 ) 7,745 Total $ 25,289 $ (70,468 ) $ 28,680
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, 2018 2017 2016 U.S. federal statutory rate 21.0 % 35.0 % 35.0 % State taxes, net of federal benefit 5.0 4.1 4.2 State deferred tax rate change, net of federal benefit 0.7 0.5 2.0 Valuation allowance (0.5 ) 0.1 1.1 Share-based compensation (1.9 ) (1.0 ) — Enactment of the Tax Cuts and Jobs Act (0.1 ) (122.9 ) — Other 0.0 (0.2 ) 0.6 24.2 % (84.4 )% 42.9 %
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, 2018 2017 Deferred tax liabilities: Accelerated depreciation $ 208,539 $ 195,694 Prepaid costs currently deductible 4,845 4,152 Other 4,703 4,405 Total deferred tax liabilities 218,087 204,251 Deferred tax assets: Accrued costs not yet deductible 7,796 7,880 Allowance for doubtful accounts 486 484 Deferred revenues 1,774 213 Share-based compensation 1,367 1,045 Total deferred tax assets, net of valuation allowance of $0.2 million in 2018 and $0.8 million in 2017 11,423 9,622 Deferred income taxes, net $ 206,664 $ 194,629

Benefit Plans (Tables)

Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 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, 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 Options granted 299,600 34.66 Options exercised (398,275 ) 28.94 Options cancelled/forfeited/expired (276,900 ) 28.04 Balance at December 31, 2017 1,208,860 28.14 Options granted — — Options exercised (332,810 ) 29.49 Options cancelled/forfeited/expired (30,450 ) 28.27 Balance at December 31, 2018 845,600 $ 29.57 4.18 $ 18.6 Exercisable at December 31, 2018 303,225 $ 29.71 3.78 $ 6.6 Expected to vest after December 31, 2018 517,884 $ 29.50 4.41 $ 11.4
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, 2018: Options Outstanding Options Exercisable Exercise price Number outstanding at December 2018 Weighted- average remaining contractual life (Years) Weighted- average grant date value Number exercisable at December 31, 2018 Weighted- average grant date value $20 – 25 349,990 4.17 $ 24.60 109,150 $ 24.60 $25 – 30 33,970 2.19 $ 27.99 24,460 $ 29.10 $30 – 35 448,300 4.32 $ 33.31 165,675 $ 33.03 $35 – 40 7,900 4.58 $ 38.83 3,600 $ 38.56 $40 – 45 5,440 5.67 $ 40.37 340 $ 40.37 $20 – 45 845,600 4.18 $ 29.57 303,225 $ 29.71
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, 2018 2017 2016 Expected term (in years) — 5.0 5.0 Expected volatility — 26.1 % 28.7 % Expected dividend yields — 3.0 % 4.1 % Risk-free interest rates — 2.0 % 1.2 %
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, 2018: Weighted- Aggregate average intrinsic Number grant date value of shares fair value (in millions) 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 RSUs granted 70,960 34.53 RSUs vested (36,336 ) 26.99 RSUs cancelled/forfeited/expired (66,200 ) 32.63 Balance at December 31, 2017 93,664 33.62 RSUs granted 97,260 49.47 RSUs vested (30,214 ) 33.16 RSUs cancelled/forfeited/expired (21,200 ) 33.88 Balance at December 31, 2018 139,510 $ 44.73 $ 7.2

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2019 $ 2,979 2020 2,111 2021 1,713 2022 1,445 2023 1,089 Thereafter 1,142 $ 10,479

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2018
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) 2018 2017 Trade name Indefinite $ 5,871 $ 5,700 Customer relationships 11 9,849 9,611 15,720 15,311 Less accumulated amortization (8,466 ) (7,587 ) $ 7,254 $ 7,724

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Summarized Financial Information for Company's Reportable Segments	Summarized financial information for the years ended December 31, 2018, 2017 and 2016, 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, 2018 Rental revenues $ 159,136 $ 89,937 $ 69,701 $ — $ 318,774 Rental related services revenues 54,696 3,300 24,911 — 82,907 Sales and other revenues 40,742 25,420 1,441 29,046 96,649 Total revenues 254,574 118,657 96,053 29,046 498,330 Depreciation of rental equipment 21,200 36,011 15,928 — 73,139 Gross profit 120,750 54,773 48,055 9,673 233,251 Selling and administrative expenses 58,017 22,823 30,026 4,904 115,770 Income from operations 62,733 31,950 18,029 4,769 117,481 Interest expense (income) allocation (7,132 ) (2,696 ) (3,252 ) 783 (12,297 ) Income before provision for income taxes 55,601 28,765 14,777 5,552 104,695 Rental equipment acquisitions 63,374 65,467 5,257 — 134,098 Accounts receivable, net (period end) 72,295 20,732 19,992 7,997 121,016 Rental equipment, at cost (period end) 817,375 285,052 313,573 — 1,416,000 Rental equipment, net book value (period end) 572,032 131,450 197,533 — 901,015 Utilization (period end) 2 79.3 % 62.1 % 56.4 % Average utilization 2 78.2 % 62.7 % 59.9 % Segment Data (Continued) (dollar amounts in thousands) Mobile Modular TRS- RenTelco Adler Tanks Enviroplex 1 Consolidated Year Ended December 31, 2017 Rental revenues $ 142,584 $ 82,812 $ 64,021 $ — $ 289,417 Rental related services revenues 50,448 2,858 24,762 — 78,068 Sales and other revenues 38,234 22,374 2,572 31,369 94,549 Total revenues 231,266 108,044 91,355 31,369 462,034 Depreciation of rental equipment 21,247 32,891 15,770 — 69,908 Gross profit 103,935 50,289 43,218 8,903 206,345 Selling and administrative expenses 55,583 22,171 29,542 4,309 111,605 Income from operations 48,352 28,118 13,676 4,594 94,740 Interest expense (income) allocation (6,671 ) (2,320 ) (3,071 ) 440 (11,622 ) Income before benefit for income taxes 41,681 26,132 10,605 5,034 83,452 Rental equipment acquisitions 34,526 58,781 4,800 — 98,107 Accounts receivable, net (period end) 59,274 19,581 18,663 8,354 105,872 Rental equipment, at cost (period end) 775,400 262,325 309,808 — 1,347,533 Rental equipment, net book value (period end) 543,857 109,482 208,981 — 862,320 Utilization (period end) 2 77.8 % 61.7 % 57.5 % Average utilization 2 76.8 % 62.9 % 56.0 % 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 % 1 Gross Enviroplex sales revenues were $30,407, $31,369 and $22,206 in 2018, 2017 and 2016, respectively. There were $1,361 and $85 inter-segment sales to Mobile Modular in 2018 and 2016, respectively, which have been eliminated in consolidation. There were no inter-segment sales in 2017. 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 Informati_2

Quarterly Financial Information (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	Quarterly financial information for each of the two years ended December 31, 2018 is summarized below: (in thousands, except per share amounts) 2018 First Second Third Fourth Year Operations Data Rental revenues $ 74,261 $ 77,267 $ 82,155 $ 85,091 $ 318,774 Total revenues 105,085 116,983 143,147 133,115 498,330 Gross profit 50,170 53,928 64,050 65,103 233,251 Income from operations 22,042 24,449 35,824 35,166 117,481 Income before provision for income taxes 19,018 21,106 32,553 32,018 104,695 Net income 14,466 15,912 24,779 24,249 79,406 Earnings per share: Basic $ 0.60 $ 0.66 $ 1.03 $ 1.00 $ 3.29 Diluted $ 0.59 $ 0.65 $ 1.01 $ 0.99 $ 3.24 Dividends declared per share $ 0.34 $ 0.34 $ 0.34 $ 0.34 $ 1.36 Shares used in per share calculations: Basic 24,067 24,145 24,172 24,179 24,141 Diluted 24,478 24,584 24,563 24,514 24,540 Balance Sheet Data Rental equipment, net $ 865,338 $ 876,522 $ 888,607 $ 901,015 $ 901,015 Total assets 1,148,858 1,180,209 1,201,799 1,217,316 1,217,316 Notes payable 300,595 314,860 309,006 298,564 298,564 Shareholders’ equity 530,284 537,195 554,547 571,535 571,535 2017 First Second Third Fourth Year Operations Data Rental revenues $ 67,978 $ 69,953 $ 73,781 $ 77,705 $ 289,417 Total revenues 94,837 109,582 135,388 122,227 462,034 Gross profit 43,670 49,211 58,775 54,689 206,345 Income from operations 15,822 21,846 30,286 26,786 94,740 Income before provision (benefit) for income taxes 13,259 18,908 27,336 23,949 83,452 Net income 7,973 11,461 16,762 117,724 153,920 Earnings per share: Basic $ 0.33 $ 0.48 $ 0.70 $ 4.90 $ 6.41 Diluted $ 0.33 $ 0.48 $ 0.69 $ 4.82 $ 6.34 Dividends declared per share $ 0.26 $ 0.26 $ 0.26 $ 0.26 $ 1.04 Shares used in per share calculations: Basic 23,950 23,985 24,015 24,044 23,999 Diluted 24,232 24,092 24,228 24,410 24,269 Balance Sheet Data Rental equipment, net $ 856,981 $ 863,207 $ 865,724 $ 862,320 $ 862,320 Total assets 1,130,734 1,150,123 1,156,415 1,147,854 1,147,854 Notes payable 323,483 330,287 323,117 303,414 303,414 Shareholders’ equity 396,625 402,365 412,782 524,184 524,184

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018USD ($)DivisionSegmentshares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)	Aug. 31, 2015shares	May 31, 2008shares
Summary Of Significant Accounting Policies [Line Items]
Number of divisions | Division	4
Number of reportable segments | Segment	4
Impairments of long-lived assets	$ 39,000	$ 1,639,000	$ 0
Period for warranties for rental equipment	90 days
Period for warranties for equipment manufactured	1 year
Property, plant and equipment depreciation expenses	$ 8,000,000	7,600,000	8,100,000
Capitalized in internal use of software	100,000	800,000
Total advertising expenses	$ 3,200,000	2,900,000	2,900,000
Estimated useful life in years, Customer relationships	11 years
Goodwill and trade name intangible assets	$ 33,700,000	33,700,000
Goodwill and intangible assets impairment charge	$ 0	$ 0	$ 0
Common stock shares authorized for repurchase | shares				2,000,000	2,000,000
Common stock repurchased | shares	0	0
Shares remain authorized for repurchase | shares	1,592,026
Unbilled receivables related to end-of-lease services	$ 32,300,000	$ 30,100,000
Period for credit risk identified	30 days
Estimated fair value notes payable	$ 99,000,000	120,200,000
Recorded fair value of notes payable	100,000,000	120,000,000
ASU 2016-02 [Member]
Summary Of Significant Accounting Policies [Line Items]
Increase in assets	10,000,000
Increase in liabilities	10,000,000
Modular Rental Equipment [Member]
Summary Of Significant Accounting Policies [Line Items]
Impairments of long-lived assets	$ 100,000	$ 1,600,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Estimated Useful Lives and Residual Values of Company's Rental Equipment (Detail)	12 Months Ended
	Dec. 31, 2018
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%
Blast resistant modules [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	20 years
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	3 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 Accoun_6

Summary of Significant Accounting Policies - Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 201,392	$ 187,603
Less accumulated depreciation	(77,118)	(70,034)
Property plant and equipment net excluding capitalized cost	124,274	117,569
Construction in progress	2,625	1,601
Property, Plant and Equipment, net	126,899	119,170
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 50,689	50,689
Estimated useful life	Indefinite
Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 50,064	43,337
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	$ 29,359	26,862
Estimated useful life	30 years
Furniture, Office and Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 33,081	32,118
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
Vehicles and Machinery [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 38,199	$ 34,597
Vehicles and Machinery [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Vehicles and Machinery [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	25 years

Summary of Significant Accoun_7

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, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings Per Share [Abstract]
Weighted-average common stock for calculating basic earnings per share	24,179	24,172	24,145	24,067	24,044	24,015	23,985	23,950	24,141	23,999	23,900
Effect of potentially dilutive securities from equity-based compensation									399	270	76
Weighted-average common stock for calculating diluted earnings per share	24,514	24,563	24,584	24,478	24,410	24,228	24,092	24,232	24,540	24,269	23,976

Summary of Significant Accoun_8

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, 2017	Dec. 31, 2016
Earnings Per Share [Abstract]
Options to purchase common stock	7	661

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Summary of Allowance for Doubtful Accounts Activity (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Allowance for doubtful accounts, Beginning Balance	$ 1,920	$ 2,087
Provision for doubtful accounts	581	1,480	$ 1,892
Write-offs, net of recoveries	(618)	(1,647)
Allowance for doubtful accounts, Ending Balance	$ 1,883	$ 1,920	$ 2,087

Implemented Accounting Pronou_3

Implemented Accounting Pronouncements - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Period for credit risk identified	30 days
Sales revenues totaling	$ 5.8
Unbilled contract assets	$ 32.3	$ 30.1
Period for warranties for rental equipment	90 days
Period for warranties for equipment manufactured	1 year
Deferred Income [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Customer contract liability	$ 15.7	6.8
Accounts Receivable [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Unbilled contract assets	$ 1.4	$ 2

Implemented Accounting Pronou_4

Implemented Accounting Pronouncements - Summary of Disaggregates the Company's Revenue by Lease and Non Lease (Detail) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation Of Revenue [Line Items]
Leasing revenues										$ 401,681	$ 367,485	$ 347,247
Total non-lease revenues										96,649	94,549	76,833
Total revenues		$ 133,115	$ 143,147	$ 116,983	$ 105,085	$ 122,227	$ 135,388	$ 109,582	$ 94,837	498,330	462,034	424,080
Leasing [Member]
Disaggregation Of Revenue [Line Items]
Leasing revenues										365,212	331,218	315,089
Non-lease Rental Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										41,753	40,011	36,910
Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										89,452	89,302	70,503
Non-lease Other [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										1,913	1,503	1,578
Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										133,118	130,816	108,991
Mobile Modular [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										40,742	38,234	29,810
Total revenues										254,574	231,266	209,512
Mobile Modular [Member] | Leasing [Member]
Disaggregation Of Revenue [Line Items]
Leasing revenues										200,214	180,612	168,787
Mobile Modular [Member] | Non-lease Rental Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										14,870	13,331	11,326
Mobile Modular [Member] | Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										39,467	37,434	29,393
Mobile Modular [Member] | Non-lease Other [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										23	(111)	6
Mobile Modular [Member] | Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										54,360	50,654	40,725
TRS-RenTelco [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										25,420	22,374	23,464
Total revenues										118,657	108,044	108,617
TRS-RenTelco [Member] | Leasing [Member]
Disaggregation Of Revenue [Line Items]
Leasing revenues										94,345	85,930	87,085
TRS-RenTelco [Member] | Non-lease Rental Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										2,607	2,358	2,292
TRS-RenTelco [Member] | Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										19,895	18,137	17,675
TRS-RenTelco [Member] | Non-lease Other [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										1,810	1,619	1,565
TRS-RenTelco [Member] | Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										24,312	22,114	21,532
Adler Tanks [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										1,441	2,572	1,438
Total revenues										96,053	91,355	83,830
Adler Tanks [Member] | Leasing [Member]
Disaggregation Of Revenue [Line Items]
Leasing revenues										70,653	64,676	59,217
Adler Tanks [Member] | Non-lease Rental Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										24,276	24,322	23,292
Adler Tanks [Member] | Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										1,044	2,362	1,314
Adler Tanks [Member] | Non-lease Other [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										80	(5)	7
Adler Tanks [Member] | Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										25,400	26,679	24,613
Enviroplex [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	[1]									29,046	31,369	22,121
Total revenues	[1]									29,046	31,369	22,121
Enviroplex [Member] | Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										29,046	31,369	22,121
Enviroplex [Member] | Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues										$ 29,046	$ 31,369	$ 22,121
[1]	Gross Enviroplex sales revenues were $30,407, $31,369 and $22,206 in 2018, 2017 and 2016, respectively. There were $1,361 and $85 inter-segment sales to Mobile Modular in 2018 and 2016, respectively, which have been eliminated in consolidation. There were no inter-segment sales in 2017.

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, 2018	Dec. 31, 2017
Minimum lease payments receivable and net investment included in accounts receivable for leases
Gross minimum lease payments receivable	$ 2,419	$ 2,150
Less – unearned interest	(249)	(201)
Net investment in sales type lease receivables	$ 2,170	$ 1,949

Financed Lease Receivables - Fu

Financed Lease Receivables - Future Minimum Lease Payments under Non-Cancelable Sales-Type Leases (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Future minimum lease payments under non-cancelable sales-type leases
2,019	$ 1,765
2,020	419
2,021	157
2,022	78
Total minimum future lease payments	$ 2,419	$ 2,150

Notes Payable - Components of N

Notes Payable - Components of Notes Payable (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017
Debt Instrument [Line Items]
Notes payable	$ 298,603				$ 303,473
Unamortized debt issuance cost	(39)				(59)
Notes payable, net	298,564	$ 309,006	$ 314,860	$ 300,595	303,414	$ 323,117	$ 330,287	$ 323,483
Unsecured Revolving Lines of Credit [Member]
Debt Instrument [Line Items]
Notes payable	198,603				183,473
Series A senior notes [Member] | 4.03% Series A senior notes due in 2018 [Member]
Debt Instrument [Line Items]
Notes payable	0				20,000
Series B senior notes [Member] | 3.68% Series B senior notes due in 2021 [Member]
Debt Instrument [Line Items]
Notes payable	40,000				40,000
Series C senior notes [Member] | 3.84% Series C senior notes due in 2022 [Member]
Debt Instrument [Line Items]
Notes payable	$ 60,000				$ 60,000

Notes Payable - Components of_2

Notes Payable - Components of Notes Payable (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2018	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 [Member] | 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 [Member] | 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 3.68% Senior Notes and 3.84% Senior Notes (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Notes payable	$ 298,603	$ 303,473
Notes Payable to Banks and Others [Member]
Debt Instrument [Line Items]
2,021	238,603
2,022	60,000
Notes payable	$ 298,603

Notes Payable - Additional Info

Notes Payable - Additional Information (Detail) - USD ($)	Nov. 05, 2015	Mar. 17, 2014	Apr. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Feb. 09, 2016	Apr. 21, 2011
Debt Instrument [Line Items]
Consolidated Fixed Charge Coverage Ratio				2.50%
Consolidated Fixed Charge Coverage Ratio, actual				4.11%
Consolidated Leverage Ratio				2.75%
Consolidated Leverage Ratio, actual				1.47%
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				$ 366,800,000
Consolidated Net Income				25.00%
Percentage of net cash proceeds from issuance of capital stock				90.00%
Actual tangible net worth				$ 536,500,000
Principal payments on Series A senior notes				20,000,000	$ 20,000,000	$ 20,000,000
Senior notes principal balance outstanding				$ 298,603,000	303,473,000
Stated formula value for determining available facility amount								$ 250,000,000
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.
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 was due semi-annually in arrears and the principal was 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
Principal payments on Series A senior notes			$ 20,000
Senior notes principal balance outstanding				$ 0	20,000,000
Shelf Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount				$ 100,000
Series B Senior Notes [Member] | 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 [Member] | 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]
Debt Instrument [Line Items]
Aggregate principal amount								$ 200,000,000
Maximum [Member] | Shelf Notes [Member]
Debt Instrument [Line Items]
Senior notes maturity period				12 years
Senior notes average life				10 years
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				4.11%
Consolidated Leverage Ratio				2.75%
Consolidated Leverage Ratio, actual				1.47%
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				$ 366,800,000
Consolidated Net Income				25.00%
Percentage of net cash proceeds from issuance of capital stock				90.00%
Actual tangible net worth				$ 536,500,000
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, 2018 and 2017, the applicable margins were 1.25% for LIBOR based loans, 0.25% for base rate loans and 0.20% for unused fees. 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				0.20%	0.20%
Credit Facility [Member] | LIBOR Loans [Member]
Debt Instrument [Line Items]
Debt instrument interest rate at period end				1.25%	1.25%
Credit Facility [Member] | Base Rate Loans [Member]
Debt Instrument [Line Items]
Debt instrument interest rate at period end				0.25%	0.25%
Credit Facility [Member] | Sweep Service Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum					$ 432,000,000
Revolving credit facility, available maximum borrowing capacity					233,400,000
Amount outstanding					$ 198,600,000
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, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Maximum amount outstanding	$ 228,500	$ 215,732
Average amount outstanding	$ 204,534	$ 199,499
Weighted average interest rate, during the period	3.36%	2.64%
Prime interest rate, end of period	5.50%	4.50%

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Before (Benefit) Provision For Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest [Abstract]
U.S.									$ 104,881	$ 83,525	$ 67,199
Foreign									(186)	(73)	(268)
Income before provision (benefit) for income taxes	$ 32,018	$ 32,553	$ 21,106	$ 19,018	$ 23,949	$ 27,336	$ 18,908	$ 13,259	$ 104,695	$ 83,452	$ 66,931

Income Taxes - (Benefit) Provis

Income Taxes - (Benefit) Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current:
U.S. Federal	$ 7,270	$ 21,171	$ 17,203
State	4,253	2,976	2,049
Foreign	1,731	2,016	1,683
Current income tax expense (benefit)	13,254	26,163	20,935
Deferred:
U.S. Federal	10,355	(103,518)	4,005
State	1,637	6,948	3,039
Foreign	43	(61)	701
Deferred income tax expense (benefit)	12,035	(96,631)	7,745
Total	$ 25,289	$ (70,468)	$ 28,680

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, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
U.S. federal statutory rate	21.00%	35.00%	35.00%
State taxes, net of federal benefit	5.00%	4.10%	4.20%
State deferred tax rate change, net of federal benefit	0.70%	0.50%	2.00%
Valuation allowance	(0.50%)	0.10%	1.10%
Share-based compensation	(1.90%)	(1.00%)
Enactment of the Tax Cuts and Jobs Act	(0.10%)	(122.90%)
Other	0.00%	(0.20%)	0.60%
Effective Income Tax Rate	24.20%	(84.40%)	42.90%

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, 2018	Dec. 31, 2017
Deferred tax liabilities:
Accelerated depreciation	$ 208,539	$ 195,694
Prepaid costs currently deductible	4,845	4,152
Other	4,703	4,405
Total deferred tax liabilities	218,087	204,251
Deferred tax assets:
Accrued costs not yet deductible	7,796	7,880
Allowance for doubtful accounts	486	484
Deferred revenues	1,774	213
Share-based compensation	1,367	1,045
Total deferred tax assets, net of valuation allowance of $0.2 million in 2018 and $0.8 million in 2017	11,423	9,622
Deferred income taxes, net	$ 206,664	$ 194,629

Income Taxes - Deferred Incom_2

Income Taxes - Deferred Income Taxes Related to Temporary Differences between Tax Bases of Assets and Liabilities (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Deferred tax assets, valuation allowance	$ 0.2	$ 0.8

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Loss Carryforwards [Line Items]
Federal corporate tax rate	21.00%	35.00%	35.00%
Deferred tax liability related to foreign earnings	$ 0
Excess tax shortfall (benefit) from exercise of share-based awards	$ (2,000,000)	$ 900,000	$ 1,100,000
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
Foreign [Member]
Operating Loss Carryforwards [Line Items]
Net operating losses carryforwards	$ 600,000
Net operating losses carryforwards, expiration year	2,023

Benefit Plans - Additional Info

Benefit Plans - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jun. 08, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 4,111,000	$ 3,198,000	$ 3,091,000
Tax benefit related to share-based compensation expense	1,100,000	1,300,000	1,200,000
Capitalized share-based compensation expense	$ 0	$ 0	$ 0
Stock option plans remain outstanding	845,600	1,208,860	1,584,435		1,410,650
Weighted average grant date fair value		$ 6.28	$ 4.14
Number of options, granted	0	299,600	881,800
Eligible period of service for participation in plan	3 months
Minimum age for employees to participate in KSOP	21 years
Dividends deducted	$ 300,000
Tax benefit from dividends	$ 100,000
Shares outstanding, employee stock ownership plan	243,007
Percentage of total common shares outstanding	1.00%
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized	1,962,804
Stock options granted	8,458,600
Stock options, exercise prices lower	$ 3.47
Stock options, exercise prices upper	$ 40.37
Purchase of shares	5,953,688
Stock option shares terminated	1,659,312
Stock option plans remain outstanding	845,600
Stock options outstanding, exercise prices lower	$ 24.60
Stock options outstanding, exercise prices upper	$ 40.37
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	$ 10,600,000	$ 6,200,000	$ 4,200,000
Total unrecognized compensation cost	$ 2,600,000
Expected recognition period of unrecognized compensation expense	1 year 10 months 24 days
Performance-based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vesting period	3 years	5 years
Percentage of vesting annually at anniversary		20.00%
Number of RSU's expected to vest	130,730
Performance-based RSUs [Member] | Vesting after three years [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of vesting RSUs	100.00%	60.00%
Service-based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of RSU's expected to vest	48,710
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 7 months 6 days
Number of forfeitures expected	21,200	66,200	68,300
Total fair value of RSU's vested based on weighted average grant date values	$ 1,000,000	$ 1,000,000	$ 1,800,000
Stock-based compensation expense for restricted stock	2,600,000	$ 1,400,000	$ 1,000,000
Total unrecognized compensation expense net of forfeitures	$ 5,200,000
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
2016 Stock Incentive 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, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Options, Beginning Balance	1,208,860	1,584,435	1,410,650
Number of Options, granted	0	299,600	881,800
Number of Options, exercised	(332,810)	(398,275)	(368,085)
Number of Options, cancelled/forfeited/expired	(30,450)	(276,900)	(339,930)
Number of Options, Ending Balance	845,600	1,208,860	1,584,435
Number of Options, Exercisable at December 31, 2017	303,225
Number of Options, Expected to Vest after December 31, 2017	517,884
Weighted-Average Price, Beginning Balance	$ 28.14	$ 28.14	$ 29.91
Weighted-Average Price, Options granted		34.66	25.26
Weighted-Average Price, Options exercised	29.49	28.94	27.34
Weighted-Average Price, Options cancelled/forfeited/expired	28.27	28.04	28.62
Weighted-Average Price, Ending Balance	29.57	$ 28.14	$ 28.14
Weighted-Average Price, Exercisable at December 31, 2017	29.71
Weighted-Average Price, Expected to Vest after December 31, 2017	$ 29.50
Weighted-Average Remaining Contractual Term, Balance At December 31, 2017	4 years 2 months 4 days
Weighted-Average Remaining Contractual Term, Exercisable at December 31, 2017	3 years 9 months 10 days
Weighted-Average Remaining Contractual Term, Expected to Vest after December 31, 2017	4 years 4 months 28 days
Aggregate Intrinsic Value, Balance At December 31, 2017	$ 18.6
Aggregate Intrinsic Value, Exercisable at December 31, 2017	6.6
Aggregate Intrinsic Value, Expected to Vest after December 31, 2017	$ 11.4

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, 2018$ / 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	349,990
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	4 years 2 months 1 day
Options Outstanding, Weighted-Average Grant Date Value	$ 24.60
Options Exercisable, Number | shares	109,150
Options Exercisable, Weighted-Average Grant Date Value	$ 24.60
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	33,970
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	2 years 2 months 8 days
Options Outstanding, Weighted-Average Grant Date Value	$ 27.99
Options Exercisable, Number | shares	24,460
Options Exercisable, Weighted-Average Grant Date Value	$ 29.10
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	448,300
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	4 years 3 months 25 days
Options Outstanding, Weighted-Average Grant Date Value	$ 33.31
Options Exercisable, Number | shares	165,675
Options Exercisable, Weighted-Average Grant Date Value	$ 33.03
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	7,900
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	4 years 6 months 29 days
Options Outstanding, Weighted-Average Grant Date Value	$ 38.83
Options Exercisable, Number | shares	3,600
Options Exercisable, Weighted-Average Grant Date Value	$ 38.56
Exercise Price 40-45 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Lower Range Limit	40
Exercise Price Upper Range Limit	$ 45
Options Outstanding, Number | shares	5,440
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	5 years 8 months 1 day
Options Outstanding, Weighted-Average Grant Date Value	$ 40.37
Options Exercisable, Number | shares	340
Options Exercisable, Weighted-Average Grant Date Value	$ 40.37
Exercise Price 20-45 [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	$ 45
Options Outstanding, Number | shares	845,600
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	4 years 2 months 4 days
Options Outstanding, Weighted-Average Grant Date Value	$ 29.57
Options Exercisable, Number | shares	303,225
Options Exercisable, Weighted-Average Grant Date Value	$ 29.71

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, 2017	Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Expected term (in years)	5 years	5 years
Expected volatility	26.10%	28.70%
Expected dividend yields	3.00%	4.10%
Risk-free interest rates	2.00%	1.20%

Benefit Plans - Summary of Co_2

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, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Beginning Balance	93,664	125,240	220,648
Number of Shares, granted	97,260	70,960	31,900
Number of Shares, vested	(30,214)	(36,336)	(59,008)
Number of Shares, cancelled/forfeited/expired	(21,200)	(66,200)	(68,300)
Number of Shares, Ending Balance	139,510	93,664	125,240
Weighted-Average Grant Date Fair Value, Beginning Balance	$ 33.62	$ 30.66	$ 30.70
Weighted-Average Grant Date Fair Value, granted	49.47	34.53	25.75
Weighted-Average Grant Date Fair Value, vested	33.16	26.99	29.69
Weighted-Average Grant Date Fair Value, cancelled/forfeited/expired	33.88	32.63	29.33
Weighted-Average Grant Date Fair Value, Ending Balance	$ 44.73	$ 33.62	$ 30.66
Aggregate Intrinsic Value	$ 7.2

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	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	0

Commitments and Contingencies -

Commitments and Contingencies - Minimum Payments under Leases, Exclusive of Property Taxes and Insurance (Detail) $ in Thousands	Dec. 31, 2018USD ($)
Operating Leases Future Minimum Payments Due [Abstract]
2,019	$ 2,979
2,020	2,111
2,021	1,713
2,022	1,445
2,023	1,089
Thereafter	1,142
Total minimum future lease payments	$ 10,479

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Facility rent expense	$ 3,500,000	$ 3,500,000	$ 3,500,000
Health compensation plan annual stop-loss insurance per claim	200,000
Workers compensation plan annual stop-loss insurance per claim	350,000
Accruals for health and workers' compensation plans	$ 3,000,000	$ 2,900,000

Intangible Assets - Summary of

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Trade name	$ 5,871	$ 5,700
Customer relationships	9,849	9,611
Intangible Assets, gross	15,720	15,311
Less accumulated amortization	(8,466)	(7,587)
Intangible Assets, net	$ 7,254	$ 7,724
Estimated useful life in years, Customer relationships	11 years

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 900,000	$ 900,000	$ 900,000
Subsequent impairment of the underlying assets	0
Expected annual amortization expense for 2019	900,000
Expected annual amortization expense for 2020	100,000
Expected annual amortization expense for 2021	100,000
Expected annual amortization expense for 2022	100,000
Expected annual amortization expense for 2023	100,000
Expected annual amortization expense for 2024	100,000
Expected annual amortization expense for 2025	$ 100,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Related Party Transactions [Abstract]
Amount due from (to) related party	$ 0	$ 0

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018SegmentCustomer	Dec. 31, 2017Customer	Dec. 31, 2016Customer
Segment Reporting Information [Line Items]
Number of reportable segments | Segment	4
Customer Concentration Risk [Member] | Sales [Member]
Segment Reporting Information [Line Items]
Number of major customer | Customer	0	0	0
Geographic Concentration Risk [Member] | Sales [Member] | Foreign Country Customers [Member]
Segment Reporting Information [Line Items]
Revenues from customers	4.00%	4.00%	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, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Rental revenues		$ 85,091	$ 82,155	$ 77,267	$ 74,261	$ 77,705	$ 73,781	$ 69,953	$ 67,978	$ 318,774	$ 289,417	$ 271,388
Rental related services revenues										82,907	78,068	75,859
Sales and other revenues										96,649	94,549	76,833
Total revenues		133,115	143,147	116,983	105,085	122,227	135,388	109,582	94,837	498,330	462,034	424,080
Depreciation of rental equipment										73,139	69,908	72,197
Gross profit		65,103	64,050	53,928	50,170	54,689	58,775	49,211	43,670	233,251	206,345	184,167
Selling and administrative expenses										115,770	111,605	104,908
Income from operations		35,166	35,824	24,449	22,042	26,786	30,286	21,846	15,822	117,481	94,740	79,259
Interest expense (income) allocation										(12,297)	(11,622)	(12,207)
Income before provision (benefit) for income taxes		32,018	32,553	21,106	19,018	23,949	27,336	18,908	13,259	104,695	83,452	66,931
Rental equipment acquisitions										134,098	98,107	74,634
Accounts receivable, net (period end)		121,016				105,872				121,016	105,872	96,877
Rental equipment, at cost (period end)		1,416,000				1,347,533				1,416,000	1,347,533	1,324,057
Rental equipment, net book value (period end)		901,015	$ 888,607	$ 876,522	$ 865,338	862,320	$ 865,724	$ 863,207	$ 856,981	901,015	862,320	856,371
Mobile Modular [Member]
Segment Reporting Information [Line Items]
Rental revenues										159,136	142,584	130,496
Rental related services revenues										54,696	50,448	49,206
Sales and other revenues										40,742	38,234	29,810
Total revenues										254,574	231,266	209,512
Depreciation of rental equipment										21,200	21,247	21,001
Gross profit										120,750	103,935	93,816
Selling and administrative expenses										58,017	55,583	51,432
Income from operations										62,733	48,352	42,384
Interest expense (income) allocation										(7,132)	(6,671)	(6,804)
Income before provision (benefit) for income taxes										55,601	41,681	35,580
Rental equipment acquisitions										63,374	34,526	43,099
Accounts receivable, net (period end)		72,295				59,274				72,295	59,274	55,916
Rental equipment, at cost (period end)		817,375				775,400				817,375	775,400	769,190
Rental equipment, net book value (period end)		572,032				543,857				$ 572,032	$ 543,857	$ 544,421
Utilization (period end)	[1]									79.30%	77.80%	77.30%
Average utilization	[1]									78.20%	76.80%	76.60%
TRS-RenTelco [Member]
Segment Reporting Information [Line Items]
Rental revenues										$ 89,937	$ 82,812	$ 82,307
Rental related services revenues										3,300	2,858	2,846
Sales and other revenues										25,420	22,374	23,464
Total revenues										118,657	108,044	108,617
Depreciation of rental equipment										36,011	32,891	35,256
Gross profit										54,773	50,289	45,797
Selling and administrative expenses										22,823	22,171	21,896
Income from operations										31,950	28,118	23,901
Interest expense (income) allocation										(2,696)	(2,320)	(2,465)
Income before provision (benefit) for income taxes										28,765	26,132	21,315
Rental equipment acquisitions										65,467	58,781	30,505
Accounts receivable, net (period end)		20,732				19,581				20,732	19,581	19,506
Rental equipment, at cost (period end)		285,052				262,325				285,052	262,325	246,325
Rental equipment, net book value (period end)		131,450				109,482				$ 131,450	$ 109,482	$ 90,172
Utilization (period end)	[1]									62.10%	61.70%	61.00%
Average utilization	[1]									62.70%	62.90%	60.60%
Adler Tanks [Member]
Segment Reporting Information [Line Items]
Rental revenues										$ 69,701	$ 64,021	$ 58,585
Rental related services revenues										24,911	24,762	23,807
Sales and other revenues										1,441	2,572	1,438
Total revenues										96,053	91,355	83,830
Depreciation of rental equipment										15,928	15,770	15,940
Gross profit										48,055	43,218	37,409
Selling and administrative expenses										30,026	29,542	27,610
Income from operations										18,029	13,676	9,799
Interest expense (income) allocation										(3,252)	(3,071)	(3,200)
Income before provision (benefit) for income taxes										14,777	10,605	6,599
Rental equipment acquisitions										5,257	4,800	1,030
Accounts receivable, net (period end)		19,992				18,663				19,992	18,663	16,150
Rental equipment, at cost (period end)		313,573				309,808				313,573	309,808	308,542
Rental equipment, net book value (period end)		197,533				208,981				$ 197,533	$ 208,981	$ 221,778
Utilization (period end)	[1]									56.40%	57.50%	50.70%
Average utilization	[1]									59.90%	56.00%	50.10%
Enviroplex [Member]
Segment Reporting Information [Line Items]
Sales and other revenues	[2]									$ 29,046	$ 31,369	$ 22,121
Total revenues	[2]									29,046	31,369	22,121
Gross profit	[2]									9,673	8,903	7,145
Selling and administrative expenses	[2]									4,904	4,309	3,970
Income from operations	[2]									4,769	4,594	3,175
Interest expense (income) allocation	[2]									783	440	262
Income before provision (benefit) for income taxes	[2]									5,552	5,034	3,437
Accounts receivable, net (period end)	[2]	$ 7,997				$ 8,354				$ 7,997	$ 8,354	$ 5,305
[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 $30,407, $31,369 and $22,206 in 2018, 2017 and 2016, respectively. There were $1,361 and $85 inter-segment sales to Mobile Modular in 2018 and 2016, respectively, which have been eliminated in consolidation. There were no inter-segment sales in 2017.

Segment Reporting - Summarize_2

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Parenthetical) (Detail) - USD ($)		3 Months Ended								12 Months Ended
		Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenues		$ 133,115,000	$ 143,147,000	$ 116,983,000	$ 105,085,000	$ 122,227,000	$ 135,388,000	$ 109,582,000	$ 94,837,000	$ 498,330,000	$ 462,034,000	$ 424,080,000
Sales revenues										(96,649,000)	(94,549,000)	(76,833,000)
Sales [Member]
Segment Reporting Information [Line Items]
Sales revenues										(92,618,000)	(91,500,000)	(74,410,000)
Enviroplex [Member]
Segment Reporting Information [Line Items]
Revenues	[1]									29,046,000	31,369,000	22,121,000
Sales revenues	[1]									(29,046,000)	(31,369,000)	(22,121,000)
Mobile Modular [Member]
Segment Reporting Information [Line Items]
Revenues										254,574,000	231,266,000	209,512,000
Sales revenues										(40,742,000)	(38,234,000)	(29,810,000)
Operating Segments [Member] | Enviroplex [Member] | Sales [Member]
Segment Reporting Information [Line Items]
Revenues										30,407,000	31,369,000	22,206,000
Inter-segment Eliminations [Member] | Sales [Member]
Segment Reporting Information [Line Items]
Sales revenues											$ 0
Inter-segment Eliminations [Member] | Mobile Modular [Member] | Sales [Member]
Segment Reporting Information [Line Items]
Sales revenues										$ 1,361,000		$ 85,000
[1]	Gross Enviroplex sales revenues were $30,407, $31,369 and $22,206 in 2018, 2017 and 2016, respectively. There were $1,361 and $85 inter-segment sales to Mobile Modular in 2018 and 2016, respectively, which have been eliminated in consolidation. There were no inter-segment sales in 2017.

Quarterly Financial Informati_3

Quarterly Financial Information - Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operations Data
Rental revenues	$ 85,091	$ 82,155	$ 77,267	$ 74,261	$ 77,705	$ 73,781	$ 69,953	$ 67,978	$ 318,774	$ 289,417	$ 271,388
Total revenues	133,115	143,147	116,983	105,085	122,227	135,388	109,582	94,837	498,330	462,034	424,080
Gross profit	65,103	64,050	53,928	50,170	54,689	58,775	49,211	43,670	233,251	206,345	184,167
Income from operations	35,166	35,824	24,449	22,042	26,786	30,286	21,846	15,822	117,481	94,740	79,259
Income before provision (benefit) for income taxes	32,018	32,553	21,106	19,018	23,949	27,336	18,908	13,259	104,695	83,452	66,931
Net income	$ 24,249	$ 24,779	$ 15,912	$ 14,466	$ 117,724	$ 16,762	$ 11,461	$ 7,973	$ 79,406	$ 153,920	$ 38,251
Earnings per share:
Basic	$ 1	$ 1.03	$ 0.66	$ 0.60	$ 4.90	$ 0.70	$ 0.48	$ 0.33	$ 3.29	$ 6.41	$ 1.60
Diluted	0.99	1.01	0.65	0.59	4.82	0.69	0.48	0.33	3.24	6.34	1.60
Dividends declared per share	$ 0.34	$ 0.34	$ 0.34	$ 0.34	$ 0.26	$ 0.26	$ 0.26	$ 0.26	$ 1.36	$ 1.04	$ 1.02
Shares used in per share calculations:
Basic	24,179	24,172	24,145	24,067	24,044	24,015	23,985	23,950	24,141	23,999	23,900
Diluted	24,514	24,563	24,584	24,478	24,410	24,228	24,092	24,232	24,540	24,269	23,976
Balance Sheet Data
Rental equipment, net	$ 901,015	$ 888,607	$ 876,522	$ 865,338	$ 862,320	$ 865,724	$ 863,207	$ 856,981	$ 901,015	$ 862,320	$ 856,371
Total assets	1,217,316	1,201,799	1,180,209	1,148,858	1,147,854	1,156,415	1,150,123	1,130,734	1,217,316	1,147,854
Notes payable	298,564	309,006	314,860	300,595	303,414	323,117	330,287	323,483	298,564	303,414
Shareholders’ equity	$ 571,535	$ 554,547	$ 537,195	$ 530,284	$ 524,184	$ 412,782	$ 402,365	$ 396,625	$ 571,535	$ 524,184	$ 394,287	$ 379,687