McGrath RentCorp (MGRC) 10-Q 30 Jul 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Jul. 29, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Trading Symbol	MGRC
Entity Registrant Name	MCGRATH RENTCORP
Entity Central Index Key	0000752714
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	0-13292
Entity Tax Identification Number	942579843
Entity Address, Address Line One	5700 Las Positas Road
Entity Address, City or Town	Livermore
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94551-7800
City Area Code	925
Local Phone Number	606-9200
Entity Common Stock, Shares Outstanding		24,253,091

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues
Rental	$ 88,105	$ 77,267	$ 170,801	$ 151,528
Rental related services	24,467	19,086	45,922	36,917
Rental operations	112,572	96,353	216,723	188,445
Revenues			32,724	33,623
Total revenues	127,439	116,983	249,447	222,068
Direct costs of rental operations:
Depreciation of rental equipment	19,726	18,103	38,687	35,880
Rental related services	18,137	15,018	34,500	28,786
Other	21,741	18,753	41,474	35,022
Total direct costs of rental operations	59,604	51,874	114,661	99,688
Costs of sales	7,954	11,181	17,900	18,282
Total costs of revenues	67,558	63,055	132,561	117,970
Gross profit	59,881	53,928	116,886	104,098
Selling and administrative expenses	30,815	29,479	60,510	57,607
Income from operations	29,066	24,449	56,376	46,491
Other income (expense):
Interest expense	(3,138)	(2,999)	(6,246)	(5,991)
Foreign currency exchange gain (loss)	37	(344)	86	(376)
Income before provision for income taxes	25,965	21,106	50,216	40,124
Provision for income taxes	6,477	5,194	12,279	9,746
Net income	$ 19,488	$ 15,912	$ 37,937	$ 30,378
Earnings per share:
Basic	$ 0.80	$ 0.66	$ 1.57	$ 1.26
Diluted	$ 0.79	$ 0.65	$ 1.54	$ 1.24
Shares used in per share calculation:
Basic	24,246	24,145	24,221	24,106
Diluted	24,579	24,584	24,561	24,549
Cash dividends declared per share	$ 0.375	$ 0.340	$ 0.750	$ 0.680
Sales [Member]
Revenues
Revenues	$ 13,707	$ 19,546	$ 30,532	$ 31,637
Other [Member]
Revenues
Revenues	$ 1,160	$ 1,084	$ 2,192	$ 1,986

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 19,488	$ 15,912	$ 37,937	$ 30,378
Other comprehensive income (loss):
Foreign currency translation adjustment	(6)	167	(40)	141
Tax benefit (provision)		(44)	7	(40)
Comprehensive income	$ 19,482	$ 16,035	$ 37,904	$ 30,479

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets
Cash	$ 1,496	$ 1,508
Accounts receivable, net of allowance for doubtful accounts of $1,883 in 2019 and 2018	121,018	121,016
Rental equipment, at cost:
Relocatable modular buildings	854,076	817,375
Electronic test equipment	307,639	285,052
Liquid and solid containment tanks and boxes	315,571	313,573
Rental equipment, gross	1,477,286	1,416,000
Less accumulated depreciation	(534,134)	(514,985)
Rental equipment, net	943,152	901,015
Property, plant and equipment, net	126,906	126,899
Prepaid expenses and other assets	53,062	31,816
Intangible assets, net	6,807	7,254
Goodwill	27,808	27,808
Total assets	1,280,249	1,217,316
Liabilities:
Notes payable	301,878	298,564
Accounts payable and accrued liabilities	109,443	90,844
Deferred income	66,618	49,709
Deferred income taxes, net	210,001	206,664
Total liabilities	687,940	645,781
Shareholders’ equity:
Common stock, no par value - Authorized 40,000 shares Issued and outstanding - 24,253 shares as of June 30, 2019 and 24,182 shares as of December 31, 2018	104,984	103,801
Retained earnings	487,407	467,783
Accumulated other comprehensive loss	(82)	(49)
Total shareholders’ equity	592,309	571,535
Total liabilities and shareholders’ equity	$ 1,280,249	$ 1,217,316

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 1,883	$ 1,883
Common stock, par value
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	24,253,000	24,182,000
Common Stock, shares outstanding	24,253,000	24,182,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Dec. 31, 2017	$ 524,184	$ 102,947	$ 421,405	$ (168)
Balance, Shares at Dec. 31, 2017		24,052,000
Net income	14,466		14,466
Share-based compensation	864	$ 864
Common stock issued under stock Plans, net of shares withheld for employee taxes, Shares		50,000
Taxes paid related to net share settlement of stock awards	(971)	$ (971)
Dividends accrued of $0.375, $0.375, $0.34 and $0.34 per share for three months ended March 31, 2019, June 30, 2019 and three months ended March 31 2018, June 30, 2018	(8,237)		(8,237)
Other comprehensive loss	(22)			(22)
Balance at Mar. 31, 2018	530,284	$ 102,840	427,634	(190)
Balance, Shares at Mar. 31, 2018		24,102,000
Balance at Dec. 31, 2017	524,184	$ 102,947	421,405	(168)
Balance, Shares at Dec. 31, 2017		24,052,000
Net income	30,378
Balance at Jun. 30, 2018	537,195	$ 101,983	435,279	(67)
Balance, Shares at Jun. 30, 2018		24,170,000
Balance at Mar. 31, 2018	530,284	$ 102,840	427,634	(190)
Balance, Shares at Mar. 31, 2018		24,102,000
Net income	15,912		15,912
Share-based compensation	964	$ 964
Common stock issued under stock Plans, net of shares withheld for employee taxes, Shares		68,000
Taxes paid related to net share settlement of stock awards	(1,821)	$ (1,821)
Dividends accrued of $0.375, $0.375, $0.34 and $0.34 per share for three months ended March 31, 2019, June 30, 2019 and three months ended March 31 2018, June 30, 2018	(8,267)		(8,267)
Other comprehensive loss	123			123
Balance at Jun. 30, 2018	537,195	$ 101,983	435,279	(67)
Balance, Shares at Jun. 30, 2018		24,170,000
Balance at Dec. 31, 2018	$ 571,535	$ 103,801	467,783	(49)
Balance, Shares at Dec. 31, 2018	24,182,000	24,182,000
Net income	$ 18,449		18,449
Share-based compensation	1,392	$ 1,392
Common stock issued under stock Plans, net of shares withheld for employee taxes, Shares		40,000
Taxes paid related to net share settlement of stock awards	(1,555)	$ (1,555)
Dividends accrued of $0.375, $0.375, $0.34 and $0.34 per share for three months ended March 31, 2019, June 30, 2019 and three months ended March 31 2018, June 30, 2018	(9,151)		(9,151)
Other comprehensive loss	(27)			(27)
Balance at Mar. 31, 2019	580,643	$ 103,638	477,081	(76)
Balance, Shares at Mar. 31, 2019		24,222,000
Balance at Dec. 31, 2018	$ 571,535	$ 103,801	467,783	(49)
Balance, Shares at Dec. 31, 2018	24,182,000	24,182,000
Net income	$ 37,937
Balance at Jun. 30, 2019	$ 592,309	$ 104,984	487,407	(82)
Balance, Shares at Jun. 30, 2019	24,253,000	24,253,000
Balance at Mar. 31, 2019	$ 580,643	$ 103,638	477,081	(76)
Balance, Shares at Mar. 31, 2019		24,222,000
Net income	19,488		19,488
Share-based compensation	1,354	$ 1,354
Common stock issued under stock Plans, net of shares withheld for employee taxes, Shares		31,000
Taxes paid related to net share settlement of stock awards	(8)	$ (8)
Dividends accrued of $0.375, $0.375, $0.34 and $0.34 per share for three months ended March 31, 2019, June 30, 2019 and three months ended March 31 2018, June 30, 2018	(9,162)		(9,162)
Other comprehensive loss	(6)			(6)
Balance at Jun. 30, 2019	$ 592,309	$ 104,984	$ 487,407	$ (82)
Balance, Shares at Jun. 30, 2019	24,253,000	24,253,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018
Cash dividends declared per share	$ 0.375		$ 0.340
Retained Earnings [Member]
Cash dividends declared per share	$ 0.375	$ 0.375	$ 0.34	$ 0.34

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash Flows from Operating Activities:
Net income	$ 37,937	$ 30,378
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	43,087	40,288
Impairment of rental assets		39
Provision for doubtful accounts	371	181
Share-based compensation	2,746	1,828
Gain on sale of used rental equipment	(9,168)	(9,875)
Foreign currency exchange (gain) loss	(86)	376
Amortization of debt issuance costs	5	15
Change in:
Accounts receivable	(373)	596
Prepaid expenses and other assets	(21,246)	(14,938)
Accounts payable and accrued liabilities	18,468	(365)
Deferred income	16,909	4,854
Deferred income taxes	3,337	388
Net cash provided by operating activities	91,987	53,765
Cash Flows from Investing Activities:
Purchases of rental equipment	(90,701)	(58,662)
Purchases of property, plant and equipment	(3,961)	(6,417)
Proceeds from sales of used rental equipment	18,280	19,212
Net cash used in investing activities	(76,382)	(45,867)
Cash Flows from Financing Activities:
Net borrowings under bank lines of credit	3,309	31,431
Principal payments on Series A senior notes		(20,000)
Taxes paid related to net share settlement of stock awards	(1,563)	(2,792)
Payment of dividends	(17,337)	(14,501)
Net cash used in financing activities	(15,591)	(5,862)
Effect of foreign currency exchange rate changes on cash	(26)	(53)
Net increase (decrease) in cash	(12)	1,983
Cash balance, beginning of period	1,508	2,501
Cash balance, end of period	1,496	4,484
Supplemental Disclosure of Cash Flow Information:
Interest paid, during the period	6,210	6,123
Net income taxes paid, during the period	6,173	11,675
Dividends accrued during the period, not yet paid	9,163	8,267
Rental equipment acquisitions, not yet paid	$ 8,930	$ 7,201

Condensed Consolidated Financia

Condensed Consolidated Financial Information	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Condensed Consolidated Financial Information	NOTE 1. CONDENSED CONSOLIDATED FINANCIAL INFORMATION The condensed consolidated financial statements for the three and six months ended June 30, 2019 and 2018 have not been audited, but in the opinion of management, all adjustments (consisting of normal recurring accruals, consolidating and eliminating entries) necessary for the fair presentation of the consolidated financial position, results of operations and cash flows of McGrath RentCorp (the “Company”) have been made. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and note disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to those rules and regulations. The consolidated results for the six months ended June 30, 2019 should not be considered as necessarily indicative of the consolidated results for the entire fiscal year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s latest Annual Report on Form 10-K, filed with the SEC on February 26, 2019 for the year ended December 31, 2018 (the “2018 Annual Report”).

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2019
Revenue From Contract With Customer [Abstract]
Revenue Recognition	NOTE 2. REVENUE RECOGNITION 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 842, Leases. Revenues determined to be non-lease related are accounted for in accordance with Accounting Standard Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606). 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 obtains 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 $33.1 million and $15.7 million at June 30, 2019 and December 31, 2018, respectively. Sales revenues totaling $0.6 million and $4.0 million were recognized during the three and six months ended June 30, 2019, respectively, which were included in the contract liability balance at December 31, 2018. 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 $0.8 million and $1.4 million at June 30, 2019 and December 31, 2018, 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 buildings 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 finance 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 finance 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 842) and non-lease revenues (within the scope of Topic 606) and the underlying service provided for the three and six months ended June 30, 2019 and 2018: (in thousands) Mobile Modular TRS- RenTelco Adler Tanks Enviroplex Consolidated Three Months Ended June 30, 2019 Leasing $ 56,732 $ 26,486 $ 18,213 $ — $ 101,431 Non-lease: Rental related services 4,242 672 7,461 — 12,375 Sales 6,725 4,642 593 1,072 13,032 Other 23 510 68 — 601 Total non-lease 10,990 5,824 8,122 1,072 26,008 Total revenues $ 67,722 $ 32,310 $ 26,335 $ 1,072 $ 127,439 2018 Leasing $ 46,634 $ 23,136 $ 16,977 $ — $ 86,747 Non-lease: Rental related services 4,275 707 5,991 — 10,973 Sales 8,961 6,012 30 3,711 18,714 Other 1 497 51 — 549 Total non-lease 13,237 7,216 6,072 3,711 30,236 Total revenues $ 59,871 $ 30,352 $ 23,049 $ 3,711 $ 116,983 Six Months Ended June 30, 2019 Leasing $ 110,476 $ 51,166 $ 35,297 $ — $ 196,939 Non-lease: Rental related services 7,546 1,241 13,543 — 22,330 Sales 14,725 9,621 863 3,877 29,086 Other 67 958 67 — 1,092 Total non-lease 22,338 11,820 14,473 3,877 52,508 Total revenues $ 132,814 $ 62,986 $ 49,770 $ 3,877 $ 249,447 2018 Leasing $ 91,905 $ 45,636 $ 32,760 $ — $ 170,301 Non-lease: Rental related services 8,260 1,514 11,081 — 20,855 Sales 13,554 10,351 335 5,729 29,969 Other 3 889 51 — 943 Total non-lease 21,817 12,754 11,467 5,729 51,767 Total revenues $ 113,722 $ 58,390 $ 44,227 $ 5,729 $ 222,068 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 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.

Implemented Accounting Pronounc

Implemented Accounting Pronouncements	6 Months Ended
	Jun. 30, 2019
Accounting Changes And Error Corrections [Abstract]
Implemented Accounting Pronouncements	NOTE 3. IMPLEMENTED ACCOUNTING PRONOUNCEMENTS Lease Accounting Lessee The Company adopted ASU No. 2016-02, Leases (Subtopic 842-10) effective January 1, 2019. Under the new guidance, lessees are 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 The Company leases real estate for certain of its branch offices and rental equipment storage yards, vehicles and equipment used in its rental operations. The Company determines if an arrangement is a lease at inception. The Company has leases with lease and non-lease components, which are accounted for separately. ROU assets and liabilities are recognized on the commencement date based on the present value of lease payments over the lease term. Variable lease payments are excluded from the ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred, which are not material. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company uses the interest rate stated in the lease as the discount rate. If the interest rate is not stated, the Company uses its incremental borrowing rate based on information available on lease commencement date in determining the present value of lease payments. Many of the Company’s real estate lease agreements include options to extend the lease, which are not included in the minimum lease terms unless they are reasonably certain to be exercised. These leases include one or more options to renew, with renewal terms that may extend the lease term from one to three years. The amount of payments associated with such options is not material. Short-term leases are leases having a term of twelve months or less and exclude leases with a lease term of one month or less. The Company recognizes short-term leases on a straight-line basis and does not record a related ROU asset or liability for such leases. The adoption of the new guidance resulted in the recording of $10.2 million of ROU assets and operating lease liabilities, which are included in Prepaid expenses and other assets and Accounts payable and accrued liabilities on the Company’s Condensed Consolidated Balance Sheet as of June 30, 2019. During the three and six months ended June 30, 2019, operating lease expense was $0.9 and $1.9 million, respectively, which includes short term lease expense of $0.1 million for both periods. At June 30, 2019, the weighted-average remaining lease term for operating leases was 4.3 years and the weighted average discount rate was 4.59%. The Company had no sub-lease income during the three and six months ended June 30, 2019, and did not have any finance leases as of June 30, 2019. Supplemental cash flow information related to leases was as follows: (in thousands) Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,785 Right of use assets obtained in exchange for lease obligations: Operating leases $ 1,582 As of June 30, 2019, maturities of operating lease liabilities were as follows: (in thousands) Year ended December 31, 2019 $ 1,621 2020 2,863 2021 2,411 2022 1,762 2023 1,332 Thereafter 1,208 Total lease payments 11,197 Less imputed interest (1,007 ) $ 10,190 Lessor As a lessor, the Company’s recognition of lease revenue remained consistent with previous guidance. As a result, the adoption of the lease standard did not have an impact on the Company’s current and previously reported results in the Company’s Condensed Consolidated Statements of Income. The Company’s equipment rentals for each of its operating segments are governed by agreements that detail the lease terms and conditions. The determination of whether these contracts with customers contain a lease generally does not require significant judgement. The Company accounts for these rentals as operating leases. These leases do not include material amounts of variable payments and the Company has made the accounting policy election to exclude all taxes assessed by a governmental authority. The Company generally does not provide an option for the lessee to purchase the rented equipment at the end of the lease term, thus, does not generate material revenue from sales of equipment under such options. Initial lease terms vary in length based upon customer needs and generally range from one to sixty months. Customers have the option to keep equipment on rent beyond the initial lease term on a month-to month basis based upon their needs. All of the Company’s rental products have long useful lives relative to the typical rental term with the original investment typically recovered in approximately three to five years. The rental products are typically rented for a majority of the time owned and a significant portion of the original investment is recovered when sold from inventory. The Company’s lease agreements do not contain residual value guarantees or restrictive covenants. As of June 30, 2019, maturities of operating lease payments to be received in 2019 and thereafter were as follows: (in thousands) 2019 $ 56,096 2020 49,265 2021 17,315 2022 4,119 2023 873 Thereafter 223 $ 127,891 In the three and six months ended June 30, 2019, the Company’s lease revenues were $101.4 million and $196.9 million, respectively, consisting of $100.6 million and $195.3 million, respectively, of operating lease revenues and $0.8 million and $1.6 million, respectively, of finance lease revenues. The Company has entered into finance leases to finance certain equipment sales to customers. The lease agreements have a bargain purchase option at the end of the lease term. 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. The Company’s finance lease revenues include $ 1.4 million of sales revenues and $ million of interest income . The minimum lease payments receivable and the net investment are included in Accounts receivable on the Company’s Consolidated Balance Sheet for such leases, which were as follows: (in thousands) June 30, 2019 Gross minimum lease payments receivable $ 2,739 Less – unearned interest (263 ) Net investment in finance lease receivables $ 2,476 As of June 30, 2019, the future minimum lease payments under non-cancelable finance leases to be received in 2019 and thereafter were as follows: (in thousands) Year Ended December 31, 2019 $ 1,430 2020 896 2021 335 2022 78 Total minimum future lease payments $ 2,739

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 4. EARNINGS PER SHARE Basic earnings per share (“EPS”) is computed as net income divided by the weighted-average number of shares of common stock outstanding for the period. Diluted EPS is computed assuming conversion of all potentially dilutive securities including the dilutive effect of stock options, unvested restricted stock awards and other potentially dilutive securities. The table below presents the weighted-average number of shares of common stock used to calculate basic and diluted earnings per share: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2019 2018 2019 2018 Weighted-average number of shares of common stock for calculating basic earnings per share 24,246 24,145 24,221 24,106 Effect of potentially dilutive securities from equity-based compensation 333 439 340 443 Weighted-average number of shares of common stock for calculating diluted earnings per share 24,579 24,584 24,561 24,549 There were no anti-dilutive securities excluded from the computation of diluted earnings per share in the three and six months ended June 30, 2019 and 2018.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	NOTE 5. INTANGIBLE ASSETS Intangible assets consist of the following: (dollar amounts in thousands) Estimated useful life in years June 30, 2019 December 31, 2018 Trade name Indefinite $ 5,871 $ 5,871 Customer relationships 11 9,849 9,849 15,720 15,720 Less accumulated amortization (8,913 ) (8,466 ) $ 6,807 $ 7,254 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 asset’s carrying amount, an impairment loss would be charged to expense in the period identified. The amount of an impairment loss that would be recognized is the excess of the asset’s carrying value over its fair value. Factors the Company considers important, which may cause impairment include, among others, significant changes in the manner of use of the acquired asset, negative industry or economic trends, and significant underperformance relative to historical or projected operating results. The Company typically conducts its annual impairment analysis in the fourth quarter of its fiscal year. The impairment analysis did not result in an impairment charge for the fiscal year ended December 31, 2018. Determining the fair value of a reporting unit is judgmental and involves the use of significant estimates and assumptions. The Company bases its fair value estimates on assumptions that it believes are reasonable but are uncertain and subject to changes in market conditions. Intangible assets with finite useful lives are amortized over their respective useful lives. Based on the carrying values at June 30, 2019 and assuming no subsequent impairment of the underlying assets, the amortization expense is expected to be $0.3 million for the remainder of fiscal year 2019, and $0.1 million in 2020 through 2025.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Segment Reporting	NOTE 6. SEGMENT REPORTING The Company’s four reportable segments are (1) its modular building and portable storage segment (“Mobile Modular”); (2) its electronic test equipment segment (“TRS-RenTelco”); (3) its containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (“Adler Tanks”); and (4) its classroom manufacturing segment selling modular buildings used primarily as classrooms in California (“Enviroplex”). The operations of each of these segments are described in Part I – Item 1, “Business,” and the accounting policies of the segments are described in “Note 2 – Significant Accounting Policies” in the Company’s 2018 Annual Report. Management focuses on several key measures to evaluate and assess each segment’s performance, including rental revenue growth, gross profit, income from operations and income before provision for income taxes. Excluding interest expense, allocations of revenue and expense not directly associated with one of these segments are generally allocated to Mobile Modular, TRS-RenTelco and Adler Tanks based on their pro-rata share of direct revenues. Interest expense is allocated among Mobile Modular, TRS-RenTelco and Adler Tanks based on their pro-rata share of average rental equipment at cost, intangible assets, accounts receivable, deferred income and customer security deposits. The Company does not report total assets by business segment. Summarized financial information for the six months ended June 30, 2019 and 2018 for the Company’s reportable segments is shown in the following table: (dollar amounts in thousands) Mobile Modular TRS- RenTelco Adler Tanks Enviroplex 1 Consolidated Six Months Ended June 30, 2019 Rental revenues $ 86,998 $ 49,112 $ 34,691 $ — $ 170,801 Rental related services revenues 30,372 1,562 13,988 — 45,922 Sales and other revenues 15,444 12,312 1,091 3,877 32,724 Total revenues 132,814 62,986 49,770 3,877 249,447 Depreciation of rental equipment 10,877 19,684 8,126 — 38,687 Gross profit 62,865 28,492 24,086 1,443 116,886 Selling and administrative expenses 31,047 12,063 14,894 2,506 60,510 Income (loss) from operations 31,818 16,429 9,192 (1,063 ) 56,376 Interest (expense) income allocation (3,761 ) (1,385 ) (1,646 ) 546 (6,246 ) Income (loss) before provision for income taxes 28,057 15,130 7,546 (517 ) 50,216 Rental equipment acquisitions 43,614 42,999 3,327 — 89,940 Accounts receivable, net (period end) 75,633 21,212 20,106 4,067 121,018 Rental equipment, at cost (period end) 854,076 307,639 315,571 — 1,477,286 Rental equipment, net book value (period end) 600,351 150,655 192,146 — 943,152 Utilization (period end) 2 79.6 % 67.3 % 55.3 % Average utilization 2 79.1 % 65.7 % 57.1 % 2018 Rental revenues $ 75,231 $ 43,694 $ 32,603 $ — $ 151,528 Rental related services revenues 24,322 1,514 11,081 — 36,917 Sales and other revenues 14,169 13,182 543 5,729 33,623 Total revenues 113,722 58,390 44,227 5,729 222,068 Depreciation of rental equipment 10,521 17,443 7,916 — 35,880 Gross profit 53,050 27,242 21,912 1,894 104,098 Selling and administrative expenses 28,930 11,560 14,658 2,459 57,607 Income (loss) from operations 24,120 15,682 7,254 (565 ) 46,491 Interest (expense) income allocation (3,422 ) (1,313 ) (1,576 ) 320 (5,991 ) Income (loss) before provision for income taxes 20,698 13,993 5,678 (245 ) 40,124 Rental equipment acquisitions 22,287 34,502 2,669 — 59,458 Accounts receivable, net (period end) 63,003 18,391 18,239 5,462 105,095 Rental equipment, at cost (period end) 789,158 278,253 312,168 — 1,379,579 Rental equipment, net book value (period end) 550,285 122,647 203,590 — 876,522 Utilization (period end) 2 77.2 % 62.8 % 61.3 % Average utilization 2 77.3 % 62.8 % 58.5 % 1. Gross Enviroplex sales revenues were $3,877 and $6,524 for the six months ended June 30, 2019 and 2018, respectively. There were 795 2. Utilization is calculated each month by dividing the cost of rental equipment on rent by the total cost of rental equipment excluding accessory equipment and for Mobile Modular and Adler Tanks excluding new equipment inventory. The Average utilization for the period is calculated using the average costs of rental equipment . No single customer accounted for more than 10% of total revenues for the six months ended June 30, 2019 and 2018. Revenues from foreign country customers accounted for 4% of the Company’s total revenues for the same periods.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2019
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 842) and non-lease revenues (within the scope of Topic 606) and the underlying service provided for the three and six months ended June 30, 2019 and 2018: (in thousands) Mobile Modular TRS- RenTelco Adler Tanks Enviroplex Consolidated Three Months Ended June 30, 2019 Leasing $ 56,732 $ 26,486 $ 18,213 $ — $ 101,431 Non-lease: Rental related services 4,242 672 7,461 — 12,375 Sales 6,725 4,642 593 1,072 13,032 Other 23 510 68 — 601 Total non-lease 10,990 5,824 8,122 1,072 26,008 Total revenues $ 67,722 $ 32,310 $ 26,335 $ 1,072 $ 127,439 2018 Leasing $ 46,634 $ 23,136 $ 16,977 $ — $ 86,747 Non-lease: Rental related services 4,275 707 5,991 — 10,973 Sales 8,961 6,012 30 3,711 18,714 Other 1 497 51 — 549 Total non-lease 13,237 7,216 6,072 3,711 30,236 Total revenues $ 59,871 $ 30,352 $ 23,049 $ 3,711 $ 116,983 Six Months Ended June 30, 2019 Leasing $ 110,476 $ 51,166 $ 35,297 $ — $ 196,939 Non-lease: Rental related services 7,546 1,241 13,543 — 22,330 Sales 14,725 9,621 863 3,877 29,086 Other 67 958 67 — 1,092 Total non-lease 22,338 11,820 14,473 3,877 52,508 Total revenues $ 132,814 $ 62,986 $ 49,770 $ 3,877 $ 249,447 2018 Leasing $ 91,905 $ 45,636 $ 32,760 $ — $ 170,301 Non-lease: Rental related services 8,260 1,514 11,081 — 20,855 Sales 13,554 10,351 335 5,729 29,969 Other 3 889 51 — 943 Total non-lease 21,817 12,754 11,467 5,729 51,767 Total revenues $ 113,722 $ 58,390 $ 44,227 $ 5,729 $ 222,068

Implemented Accounting Pronou_2

Implemented Accounting Pronouncements (Tables)	6 Months Ended
	Jun. 30, 2019
Accounting Changes And Error Corrections [Abstract]
Summary of Supplemental Cash flow Information Related to Leases	Supplemental cash flow information related to leases was as follows: (in thousands) Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,785 Right of use assets obtained in exchange for lease obligations: Operating leases $ 1,582
Summary of Maturities of Operating Lease Liabilities	As of June 30, 2019, maturities of operating lease liabilities were as follows: (in thousands) Year ended December 31, 2019 $ 1,621 2020 2,863 2021 2,411 2022 1,762 2023 1,332 Thereafter 1,208 Total lease payments 11,197 Less imputed interest (1,007 ) $ 10,190
Summary of Maturities of Operating Lease Payments	As of June 30, 2019, maturities of operating lease payments to be received in 2019 and thereafter were as follows: (in thousands) 2019 $ 56,096 2020 49,265 2021 17,315 2022 4,119 2023 873 Thereafter 223 $ 127,891
Minimum Lease Payments Receivable and Net Investment Included in Accounts Receivable for Leases	The minimum lease payments receivable and the net investment are included in Accounts receivable on the Company’s Consolidated Balance Sheet for such leases, which were as follows: (in thousands) June 30, 2019 Gross minimum lease payments receivable $ 2,739 Less – unearned interest (263 ) Net investment in finance lease receivables $ 2,476
Future Minimum Lease Payments under Non-Cancelable Finance Leases	As of June 30, 2019, the future minimum lease payments under non-cancelable finance leases to be received in 2019 and thereafter were as follows: (in thousands) Year Ended December 31, 2019 $ 1,430 2020 896 2021 335 2022 78 Total minimum future lease payments $ 2,739

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Weighted-Average Number of Shares of Common Stock Used to Calculate Basic and Diluted Earnings Per Share	The table below presents the weighted-average number of shares of common stock used to calculate basic and diluted earnings per share: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2019 2018 2019 2018 Weighted-average number of shares of common stock for calculating basic earnings per share 24,246 24,145 24,221 24,106 Effect of potentially dilutive securities from equity-based compensation 333 439 340 443 Weighted-average number of shares of common stock for calculating diluted earnings per share 24,579 24,584 24,561 24,549

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	Intangible assets consist of the following: (dollar amounts in thousands) Estimated useful life in years June 30, 2019 December 31, 2018 Trade name Indefinite $ 5,871 $ 5,871 Customer relationships 11 9,849 9,849 15,720 15,720 Less accumulated amortization (8,913 ) (8,466 ) $ 6,807 $ 7,254

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Summarized Financial Information for Company's Reportable Segments	Summarized financial information for the six months ended June 30, 2019 and 2018 for the Company’s reportable segments is shown in the following table: (dollar amounts in thousands) Mobile Modular TRS- RenTelco Adler Tanks Enviroplex 1 Consolidated Six Months Ended June 30, 2019 Rental revenues $ 86,998 $ 49,112 $ 34,691 $ — $ 170,801 Rental related services revenues 30,372 1,562 13,988 — 45,922 Sales and other revenues 15,444 12,312 1,091 3,877 32,724 Total revenues 132,814 62,986 49,770 3,877 249,447 Depreciation of rental equipment 10,877 19,684 8,126 — 38,687 Gross profit 62,865 28,492 24,086 1,443 116,886 Selling and administrative expenses 31,047 12,063 14,894 2,506 60,510 Income (loss) from operations 31,818 16,429 9,192 (1,063 ) 56,376 Interest (expense) income allocation (3,761 ) (1,385 ) (1,646 ) 546 (6,246 ) Income (loss) before provision for income taxes 28,057 15,130 7,546 (517 ) 50,216 Rental equipment acquisitions 43,614 42,999 3,327 — 89,940 Accounts receivable, net (period end) 75,633 21,212 20,106 4,067 121,018 Rental equipment, at cost (period end) 854,076 307,639 315,571 — 1,477,286 Rental equipment, net book value (period end) 600,351 150,655 192,146 — 943,152 Utilization (period end) 2 79.6 % 67.3 % 55.3 % Average utilization 2 79.1 % 65.7 % 57.1 % 2018 Rental revenues $ 75,231 $ 43,694 $ 32,603 $ — $ 151,528 Rental related services revenues 24,322 1,514 11,081 — 36,917 Sales and other revenues 14,169 13,182 543 5,729 33,623 Total revenues 113,722 58,390 44,227 5,729 222,068 Depreciation of rental equipment 10,521 17,443 7,916 — 35,880 Gross profit 53,050 27,242 21,912 1,894 104,098 Selling and administrative expenses 28,930 11,560 14,658 2,459 57,607 Income (loss) from operations 24,120 15,682 7,254 (565 ) 46,491 Interest (expense) income allocation (3,422 ) (1,313 ) (1,576 ) 320 (5,991 ) Income (loss) before provision for income taxes 20,698 13,993 5,678 (245 ) 40,124 Rental equipment acquisitions 22,287 34,502 2,669 — 59,458 Accounts receivable, net (period end) 63,003 18,391 18,239 5,462 105,095 Rental equipment, at cost (period end) 789,158 278,253 312,168 — 1,379,579 Rental equipment, net book value (period end) 550,285 122,647 203,590 — 876,522 Utilization (period end) 2 77.2 % 62.8 % 61.3 % Average utilization 2 77.3 % 62.8 % 58.5 % 1. Gross Enviroplex sales revenues were $3,877 and $6,524 for the six months ended June 30, 2019 and 2018, respectively. There were 795 2. Utilization is calculated each month by dividing the cost of rental equipment on rent by the total cost of rental equipment excluding accessory equipment and for Mobile Modular and Adler Tanks excluding new equipment inventory. The Average utilization for the period is calculated using the average costs of rental equipment .

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Disaggregation Of Revenue [Line Items]
Period for credit risk identified		30 days
Sales revenues totaling	$ 0.6	$ 4
Period for warranties for rental equipment		90 days
Period for warranties for equipment manufactured		1 year
Deferred Income [Member]
Disaggregation Of Revenue [Line Items]
Customer contract liability	33.1	$ 33.1	$ 15.7
Accounts Receivable [Member]
Disaggregation Of Revenue [Line Items]
Unbilled contract assets	$ 0.8	$ 0.8	$ 1.4

Revenue Recognition - Summary o

Revenue Recognition - Summary of Disaggregates the Company's Revenue by Lease and Non Lease (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019		Jun. 30, 2018
Disaggregation Of Revenue [Line Items]
Leasing revenues		$ 101,400		$ 196,900
Total non-lease revenues				32,724		$ 33,623
Total revenues		127,439	$ 116,983	249,447		222,068
Leasing [Member]
Disaggregation Of Revenue [Line Items]
Leasing revenues		101,431	86,747	196,939		170,301
Non-lease Rental Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		12,375	10,973	22,330		20,855
Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		13,032	18,714	29,086		29,969
Non-lease Other [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		601	549	1,092		943
Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		26,008	30,236	52,508		51,767
Mobile Modular [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues				15,444		14,169
Total revenues		67,722	59,871	132,814		113,722
Mobile Modular [Member] | Leasing [Member]
Disaggregation Of Revenue [Line Items]
Leasing revenues		56,732	46,634	110,476		91,905
Mobile Modular [Member] | Non-lease Rental Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		4,242	4,275	7,546		8,260
Mobile Modular [Member] | Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		6,725	8,961	14,725		13,554
Mobile Modular [Member] | Non-lease Other [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		23	1	67		3
Mobile Modular [Member] | Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		10,990	13,237	22,338		21,817
TRS-RenTelco [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues				12,312		13,182
Total revenues		32,310	30,352	62,986		58,390
TRS-RenTelco [Member] | Leasing [Member]
Disaggregation Of Revenue [Line Items]
Leasing revenues		26,486	23,136	51,166		45,636
TRS-RenTelco [Member] | Non-lease Rental Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		672	707	1,241		1,514
TRS-RenTelco [Member] | Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		4,642	6,012	9,621		10,351
TRS-RenTelco [Member] | Non-lease Other [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		510	497	958		889
TRS-RenTelco [Member] | Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		5,824	7,216	11,820		12,754
Adler Tanks [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues				1,091		543
Total revenues		26,335	23,049	49,770		44,227
Adler Tanks [Member] | Leasing [Member]
Disaggregation Of Revenue [Line Items]
Leasing revenues		18,213	16,977	35,297		32,760
Adler Tanks [Member] | Non-lease Rental Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		7,461	5,991	13,543		11,081
Adler Tanks [Member] | Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		593	30	863		335
Adler Tanks [Member] | Non-lease Other [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		68	51	67		51
Adler Tanks [Member] | Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		8,122	6,072	14,473		11,467
Enviroplex [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	[1]			3,877		5,729
Total revenues		1,072	3,711	3,877	[1]	5,729	[1]
Enviroplex [Member] | Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		1,072	3,711	3,877		5,729
Enviroplex [Member] | Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		$ 1,072	$ 3,711	$ 3,877		$ 5,729
[1]	Gross Enviroplex sales revenues were $3,877 and $6,524 for the six months ended June 30, 2019 and 2018, respectively. There were 795

Implemented Accounting Pronou_3

Implemented Accounting Pronouncements - Additional Information (Detail)	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Lessee, operating lease, description		The Company leases real estate for certain of its branch offices and rental equipment storage yards, vehicles and equipment used in its rental operations. The Company determines if an arrangement is a lease at inception. The Company has leases with lease and non-lease components, which are accounted for separately.
Lessee, operating lease, option to extend		true
Lessee, operating lease, option to extend, description		These leases include one or more options to renew, with renewal terms that may extend the lease term from one to three years.
Operating lease, right of use assets	$ 10,200,000	$ 10,200,000
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PrepaidExpenseAndOtherAssets	us-gaap:PrepaidExpenseAndOtherAssets
Operating lease liabilities	$ 10,190,000	$ 10,190,000
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
Operating lease expense	$ 900,000	$ 1,900,000
Short term lease expense	$ 100,000	$ 100,000
Weighted-average remaining lease term for operating leases	4 years 3 months 18 days	4 years 3 months 18 days
Weighted-average discount rate for operating leases	4.59%	4.59%
Sub-lease income	$ 0	$ 0
Finance lease liability	0	$ 0
Lessor, operating lease, description		The Company’s equipment rentals for each of its operating segments are governed by agreements that detail the lease terms and conditions.  The determination of whether these contracts with customers contain a lease generally does not require significant judgement.  The Company accounts for these rentals as operating leases.
Lessor, operating lease, option to extend		true
Lessor, operating lease, option to extend description		Initial lease terms vary in length based upon customer needs and generally range from one to sixty months.
Lease revenue	101,400,000	$ 196,900,000
Operating lease revenue	100,600,000	195,300,000
Finance lease revenue	800,000	$ 1,600,000
Finance lease revenue, sales revenue	1,400,000
Finance lease revenue, interest income	$ 200,000
Minimum [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Lessee, operating lease, renewal term	1 year	1 year
Lessor, operating lease, renewal term	1 month	1 month
Lessor, operating lease, rental products, useful lives		3 years
Maximum [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Lessee, operating lease, renewal term	3 years	3 years
Lessor, operating lease, renewal term	60 months	60 months
Lessor, operating lease, rental products, useful lives		5 years

Implemented Accounting Pronou_4

Implemented Accounting Pronouncements - Summary of Supplemental Cash flow Information Related to Leases (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 1,785
Right of use assets obtained in exchange for lease obligations:
Operating leases	$ 1,582

Implemented Accounting Pronou_5

Implemented Accounting Pronouncements - Summary of Maturities of Operating Lease Liabilities (Detail) $ in Thousands	Jun. 30, 2019USD ($)
Operating Lease Liabilities Payments Due [Abstract]
2019	$ 1,621
2020	2,863
2021	2,411
2022	1,762
2023	1,332
Thereafter	1,208
Total lease payments	11,197
Less imputed interest	(1,007)
Operating lease liabilities	$ 10,190

Implemented Accounting Pronou_6

Implemented Accounting Pronouncements - Summary of Maturities of Operating Lease Payments (Detail) $ in Thousands	Jun. 30, 2019USD ($)
Lessor Operating Lease Payments Fiscal Year Maturity [Abstract]
2019	$ 56,096
2020	49,265
2021	17,315
2022	4,119
2023	873
Thereafter	223
Operating lease, payments to be received	$ 127,891

Implemented Accounting Pronou_7

Implemented Accounting Pronouncements - Minimum Lease Payments Receivable and Net Investment Included in Accounts Receivable for Leases (Detail) $ in Thousands	Jun. 30, 2019USD ($)
Minimum lease payments receivable and net investment included in accounts receivable for leases
Gross minimum lease payments receivable	$ 2,739
Less – unearned interest	(263)
Net investment in finance lease receivables	$ 2,476

Implemented Accounting Pronou_8

Implemented Accounting Pronouncements - Future Minimum Lease Payments under Non-Cancelable Finance Leases (Detail) $ in Thousands	Jun. 30, 2019USD ($)
Future minimum lease payments under non-cancelable finance leases
2019	$ 1,430
2020	896
2021	335
2022	78
Total minimum future lease payments	$ 2,739

Earnings Per Share - Weighted-A

Earnings Per Share - Weighted-Average Number of Shares of Common Stock Used to Calculate Basic and Diluted Earnings Per Share (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Weighted-average number of shares of common stock for calculating basic earnings per share	24,246	24,145	24,221	24,106
Effect of potentially dilutive securities from equity-based compensation	333	439	340	443
Weighted-average number of shares of common stock for calculating diluted earnings per share	24,579	24,584	24,561	24,549

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from computation of diluted earnings per share	0	0	0	0

Intangible Assets - Summary of

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Trade name	$ 5,871	$ 5,871
Customer relationships	9,849	9,849
Intangible Assets, gross	15,720	15,720
Less accumulated amortization	(8,913)	(8,466)
Intangible Assets, net	$ 6,807	$ 7,254
Estimated useful life in years, Customer relationships	11 years

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Impairment charge		$ 0
Subsequent impairment of the underlying assets	$ 0
Expected annual amortization expense for 2019	300,000
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

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2019SegmentCustomer	Jun. 30, 2018Customer
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
Geographic Concentration Risk [Member] | Sales [Member] | Foreign Country Customers [Member]
Segment Reporting Information [Line Items]
Revenues from customers	4.00%	4.00%

Segment Reporting - Summarized

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019		Jun. 30, 2018		Dec. 31, 2018
Segment Reporting Information [Line Items]
Rental revenues		$ 88,105	$ 77,267	$ 170,801		$ 151,528
Rental related services revenues		24,467	19,086	45,922		36,917
Sales and other revenues				32,724		33,623
Total revenues		127,439	116,983	249,447		222,068
Depreciation of rental equipment		19,726	18,103	38,687		35,880
Gross profit		59,881	53,928	116,886		104,098
Selling and administrative expenses		30,815	29,479	60,510		57,607
Income from operations		29,066	24,449	56,376		46,491
Interest (expense) income allocation				(6,246)		(5,991)
Income (loss) before provision for income taxes		25,965	21,106	50,216		40,124
Rental equipment acquisitions				89,940		59,458
Accounts receivable, net (period end)		121,018	105,095	121,018		105,095		$ 121,016
Rental equipment, at cost (period end)		1,477,286	1,379,579	1,477,286		1,379,579		1,416,000
Rental equipment, net book value (period end)		943,152	876,522	943,152		876,522		$ 901,015
Mobile Modular [Member]
Segment Reporting Information [Line Items]
Rental revenues				86,998		75,231
Rental related services revenues				30,372		24,322
Sales and other revenues				15,444		14,169
Total revenues		67,722	59,871	132,814		113,722
Depreciation of rental equipment				10,877		10,521
Gross profit				62,865		53,050
Selling and administrative expenses				31,047		28,930
Income from operations				31,818		24,120
Interest (expense) income allocation				(3,761)		(3,422)
Income (loss) before provision for income taxes				28,057		20,698
Rental equipment acquisitions				43,614		22,287
Accounts receivable, net (period end)		75,633	63,003	75,633		63,003
Rental equipment, at cost (period end)		854,076	789,158	854,076		789,158
Rental equipment, net book value (period end)		600,351	550,285	$ 600,351		$ 550,285
Utilization (period end)	[1]			79.60%		77.20%
Average utilization	[1]			79.10%		77.30%
TRS-RenTelco [Member]
Segment Reporting Information [Line Items]
Rental revenues				$ 49,112		$ 43,694
Rental related services revenues				1,562		1,514
Sales and other revenues				12,312		13,182
Total revenues		32,310	30,352	62,986		58,390
Depreciation of rental equipment				19,684		17,443
Gross profit				28,492		27,242
Selling and administrative expenses				12,063		11,560
Income from operations				16,429		15,682
Interest (expense) income allocation				(1,385)		(1,313)
Income (loss) before provision for income taxes				15,130		13,993
Rental equipment acquisitions				42,999		34,502
Accounts receivable, net (period end)		21,212	18,391	21,212		18,391
Rental equipment, at cost (period end)		307,639	278,253	307,639		278,253
Rental equipment, net book value (period end)		150,655	122,647	$ 150,655		$ 122,647
Utilization (period end)	[1]			67.30%		62.80%
Average utilization	[1]			65.70%		62.80%
Adler Tanks [Member]
Segment Reporting Information [Line Items]
Rental revenues				$ 34,691		$ 32,603
Rental related services revenues				13,988		11,081
Sales and other revenues				1,091		543
Total revenues		26,335	23,049	49,770		44,227
Depreciation of rental equipment				8,126		7,916
Gross profit				24,086		21,912
Selling and administrative expenses				14,894		14,658
Income from operations				9,192		7,254
Interest (expense) income allocation				(1,646)		(1,576)
Income (loss) before provision for income taxes				7,546		5,678
Rental equipment acquisitions				3,327		2,669
Accounts receivable, net (period end)		20,106	18,239	20,106		18,239
Rental equipment, at cost (period end)		315,571	312,168	315,571		312,168
Rental equipment, net book value (period end)		192,146	203,590	$ 192,146		$ 203,590
Utilization (period end)	[1]			55.30%		61.30%
Average utilization	[1]			57.10%		58.50%
Enviroplex [Member]
Segment Reporting Information [Line Items]
Sales and other revenues	[2]			$ 3,877		$ 5,729
Total revenues		1,072	3,711	3,877	[2]	5,729	[2]
Gross profit	[2]			1,443		1,894
Selling and administrative expenses	[2]			2,506		2,459
Income from operations	[2]			(1,063)		(565)
Interest (expense) income allocation	[2]			546		320
Income (loss) before provision for income taxes	[2]			(517)		(245)
Accounts receivable, net (period end)	[2]	$ 4,067	$ 5,462	$ 4,067		$ 5,462
[1]	Utilization is calculated each month by dividing the cost of rental equipment on rent by the total cost of rental equipment excluding accessory equipment and for Mobile Modular and Adler Tanks excluding new equipment inventory. The Average utilization for the period is calculated using the average costs of rental equipment .
[2]	Gross Enviroplex sales revenues were $3,877 and $6,524 for the six months ended June 30, 2019 and 2018, respectively. There were 795

Segment Reporting - Summarize_2

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Parenthetical) (Detail) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019		Jun. 30, 2018
Segment Reporting Information [Line Items]
Revenues		$ 127,439,000	$ 116,983,000	$ 249,447,000		$ 222,068,000
Sales revenues				(32,724,000)		(33,623,000)
Sales [Member]
Segment Reporting Information [Line Items]
Sales revenues		(13,707,000)	(19,546,000)	(30,532,000)		(31,637,000)
Enviroplex [Member]
Segment Reporting Information [Line Items]
Revenues		1,072,000	3,711,000	3,877,000	[1]	5,729,000	[1]
Sales revenues	[1]			(3,877,000)		(5,729,000)
Mobile Modular [Member]
Segment Reporting Information [Line Items]
Revenues		$ 67,722,000	$ 59,871,000	132,814,000		113,722,000
Sales revenues				(15,444,000)		(14,169,000)
Operating Segments [Member] | Enviroplex [Member] | Sales [Member]
Segment Reporting Information [Line Items]
Revenues				3,877,000		6,524,000
Inter-segment Eliminations [Member]
Segment Reporting Information [Line Items]
Sales revenues				$ 0
Type of Revenue [Extensible List]				us-gaap:ProductMember
Inter-segment Eliminations [Member] | Mobile Modular [Member]
Segment Reporting Information [Line Items]
Sales revenues						$ 795,000
Type of Revenue [Extensible List]						us-gaap:ProductMember
[1]	Gross Enviroplex sales revenues were $3,877 and $6,524 for the six months ended June 30, 2019 and 2018, respectively. There were 795