McGrath RentCorp (MGRC) 10-Q 29 Oct 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 28, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Trading Symbol	MGRC
Security Exchange Name	NASDAQ
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 Interactive Data Current	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock
Entity File Number	000-13292
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	94-2579843
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		24,111,298
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues
Rental	$ 88,138	$ 90,857	$ 263,273	$ 261,658
Rental related services	25,040	30,816	70,026	76,738
Rental operations	113,178	121,673	333,299	338,396
Revenues			90,275	84,613
Total revenues	156,448	173,562	423,574	423,009
Direct costs of rental operations:
Depreciation of rental equipment	21,419	20,535	64,640	59,222
Rental related services	18,603	23,007	51,760	57,507
Other	18,553	19,654	56,171	61,128
Total direct costs of rental operations	58,575	63,196	172,571	177,857
Costs of sales	29,669	32,084	57,911	49,984
Total costs of revenues	88,244	95,280	230,482	227,841
Gross profit	68,204	78,282	193,093	195,168
Selling and administrative expenses	30,871	31,534	93,365	92,044
Income from operations	37,333	46,748	99,728	103,124
Other income (expense):
Interest expense	(1,968)	(3,161)	(6,804)	(9,407)
Foreign currency exchange gain (loss)	130	(132)	(189)	(46)
Income before provision for income taxes	35,495	43,455	92,735	93,671
Provision for income taxes	7,394	10,987	21,926	23,266
Net income	$ 28,101	$ 32,468	$ 70,809	$ 70,405
Earnings per share:
Basic	$ 1.17	$ 1.34	$ 2.93	$ 2.90
Diluted	$ 1.15	$ 1.32	$ 2.88	$ 2.86
Shares used in per share calculation:
Basic	24,097	24,268	24,170	24,237
Diluted	24,443	24,632	24,558	24,592
Cash dividends declared per share	$ 0.420	$ 0.375	$ 1.260	$ 1.125
Sales [Member]
Revenues
Revenues	$ 42,331	$ 50,855	$ 87,366	$ 81,387
Other [Member]
Revenues
Revenues	$ 939	$ 1,034	$ 2,909	$ 3,226

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 28,101	$ 32,468	$ 70,809	$ 70,405
Other comprehensive income (loss):
Foreign currency translation adjustment	(93)	82	64	42
Tax benefit (provision)	22	(20)	(14)	(12)
Comprehensive income	$ 28,030	$ 32,530	$ 70,859	$ 70,435

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets
Cash	$ 1,543	$ 2,342
Accounts receivable, net of allowance for doubtful accounts of $2,200 in 2020 and $1,883 in 2019	129,433	128,099
Rental equipment, at cost:
Relocatable modular buildings	885,314	868,807
Electronic test equipment	335,520	335,343
Liquid and solid containment tanks and boxes	316,110	316,261
Rental equipment, gross	1,536,944	1,520,411
Less accumulated depreciation	(588,819)	(552,911)
Rental equipment, net	948,125	967,500
Property, plant and equipment, net	134,245	131,047
Prepaid expenses and other assets	46,670	45,356
Intangible assets, net	7,167	7,334
Goodwill	28,197	28,197
Total assets	1,295,380	1,309,875
Liabilities:
Notes payable	249,980	293,431
Accounts payable and accrued liabilities	108,824	109,174
Deferred income	58,555	54,964
Deferred income taxes, net	216,407	218,270
Total liabilities	633,766	675,839
Shareholders’ equity:
Common stock, no par value - Authorized 40,000 shares Issued and outstanding - 24,111 shares as of September 30, 2020 and 24,296 shares as of December 31, 2019	106,079	106,360
Retained earnings	555,555	527,746
Accumulated other comprehensive loss	(20)	(70)
Total shareholders’ equity	661,614	634,036
Total liabilities and shareholders’ equity	$ 1,295,380	$ 1,309,875

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2,200	$ 1,883
Common stock, par value
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	24,111,000	24,296,000
Common Stock, shares outstanding	24,111,000	24,296,000

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, 2018	$ 571,535	$ 103,801	$ 467,783	$ (49)
Balance, Shares at Dec. 31, 2018		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 $0.42, $0.42, $0.42, $0.375, $0.375 and 0.375 per share for three months ended March 31, 2020, June 30, 2020, September 30, 2020 and three months ended March 31,2019, June 30, 2019, September 30, 2020	(9,151)		(9,151)
Other comprehensive income (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
Net income	70,405
Balance at Sep. 30, 2019	616,715	$ 106,033	510,702	(20)
Balance, Shares at Sep. 30, 2019		24,285,000
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 $0.42, $0.42, $0.42, $0.375, $0.375 and 0.375 per share for three months ended March 31, 2020, June 30, 2020, September 30, 2020 and three months ended March 31,2019, June 30, 2019, September 30, 2020	(9,162)		(9,162)
Other comprehensive income (loss)	(6)			(6)
Balance at Jun. 30, 2019	592,309	$ 104,984	487,407	(82)
Balance, Shares at Jun. 30, 2019		24,253,000
Net income	32,468		32,468
Share-based compensation	1,350	$ 1,350
Common stock issued under stock Plans, net of shares withheld for employee taxes, Shares		32,000
Taxes paid related to net share settlement of stock awards	(301)	$ (301)
Dividends accrued of $0.42, $0.42, $0.42, $0.375, $0.375 and 0.375 per share for three months ended March 31, 2020, June 30, 2020, September 30, 2020 and three months ended March 31,2019, June 30, 2019, September 30, 2020	(9,173)		(9,173)
Other comprehensive income (loss)	62			62
Balance at Sep. 30, 2019	616,715	$ 106,033	510,702	(20)
Balance, Shares at Sep. 30, 2019		24,285,000
Balance at Dec. 31, 2019	$ 634,036	$ 106,360	527,746	(70)
Balance, Shares at Dec. 31, 2019	24,296,000	24,296,000
Net income	$ 20,159		20,159
Share-based compensation	1,723	$ 1,723
Common stock issued under stock Plans, net of shares withheld for employee taxes, Shares		50,000
Repurchased common stock	(7,852)	$ (725)	(7,127)
Repurchased common stock, Shares		(164,000)
Taxes paid related to net share settlement of stock awards	(401)	$ (401)
Dividends accrued of $0.42, $0.42, $0.42, $0.375, $0.375 and 0.375 per share for three months ended March 31, 2020, June 30, 2020, September 30, 2020 and three months ended March 31,2019, June 30, 2019, September 30, 2020	(10,219)		(10,219)
Other comprehensive income (loss)	158			158
Balance at Mar. 31, 2020	637,604	$ 106,957	530,559	88
Balance, Shares at Mar. 31, 2020		24,182,000
Balance at Dec. 31, 2019	$ 634,036	$ 106,360	527,746	(70)
Balance, Shares at Dec. 31, 2019	24,296,000	24,296,000
Net income	$ 70,809
Balance at Sep. 30, 2020	$ 661,614	$ 106,079	555,555	(20)
Balance, Shares at Sep. 30, 2020	24,111,000	24,111,000
Balance at Mar. 31, 2020	$ 637,604	$ 106,957	530,559	88
Balance, Shares at Mar. 31, 2020		24,182,000
Net income	22,549		22,549
Share-based compensation	1,501	$ 1,501
Common stock issued under stock Plans, net of shares withheld for employee taxes, Shares		19,000
Repurchased common stock	(5,648)	$ (509)	(5,139)
Repurchased common stock, Shares		(116,000)
Taxes paid related to net share settlement of stock awards	(1,939)	$ (1,939)
Dividends accrued of $0.42, $0.42, $0.42, $0.375, $0.375 and 0.375 per share for three months ended March 31, 2020, June 30, 2020, September 30, 2020 and three months ended March 31,2019, June 30, 2019, September 30, 2020	(10,194)		(10,194)
Other comprehensive income (loss)	(37)			(37)
Balance at Jun. 30, 2020	643,836	$ 106,010	537,775	51
Balance, Shares at Jun. 30, 2020		24,085,000
Net income	28,101		28,101
Share-based compensation	1,670	$ 1,670
Common stock issued under stock Plans, net of shares withheld for employee taxes, Shares		28,000
Repurchased common stock	(117)	$ (11)	(106)
Repurchased common stock, Shares		(2,000)
Taxes paid related to net share settlement of stock awards	(1,590)	$ (1,590)
Dividends accrued of $0.42, $0.42, $0.42, $0.375, $0.375 and 0.375 per share for three months ended March 31, 2020, June 30, 2020, September 30, 2020 and three months ended March 31,2019, June 30, 2019, September 30, 2020	(10,215)		(10,215)
Other comprehensive income (loss)	(71)			(71)
Balance at Sep. 30, 2020	$ 661,614	$ 106,079	$ 555,555	$ (20)
Balance, Shares at Sep. 30, 2020	24,111,000	24,111,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
Cash dividends declared per share	$ 0.420			$ 0.375
Retained Earnings [Member]
Cash dividends declared per share	$ 0.42	$ 0.42	$ 0.42	$ 0.375	$ 0.375	$ 0.375

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash Flows from Operating Activities:
Net income	$ 70,809	$ 70,405
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	71,249	65,960
Provision for doubtful accounts	1,227	655
Share-based compensation	4,894	4,096
Gain on sale of used rental equipment	(14,110)	(15,168)
Foreign currency exchange loss	189	46
Amortization of debt issuance costs	8	8
Change in:
Accounts receivable	(2,561)	(16,929)
Prepaid expenses and other assets	(1,314)	(11,734)
Accounts payable and accrued liabilities	(582)	19,304
Deferred income	3,591	10,946
Deferred income taxes	(1,863)	9,280
Net cash provided by operating activities	131,537	136,869
Cash Flows from Investing Activities:
Purchases of rental equipment	(65,661)	(127,243)
Purchases of property, plant and equipment	(9,639)	(6,845)
Cash paid for acquisition of business assets		(7,401)
Proceeds from sales of used rental equipment	33,837	30,844
Net cash used in investing activities	(41,463)	(110,645)
Cash Flows from Financing Activities:
Net (repayment) borrowing under bank lines of credit	(43,460)	2,897
Repurchase of common stock	(13,617)
Taxes paid related to net share settlement of stock awards	(3,930)	(1,864)
Payment of dividends	(29,642)	(26,432)
Net cash used in financing activities	(90,649)	(25,399)
Effect of foreign currency exchange rate changes on cash	(224)	(43)
Net (decrease) increase in cash	(799)	782
Cash balance, beginning of period	2,342	1,508
Cash balance, end of period	1,543	2,290
Supplemental Disclosure of Cash Flow Information:
Interest paid, during the period	6,829	9,359
Net income taxes paid, during the period	24,704	10,030
Dividends accrued during the period, not yet paid	10,355	9,241
Rental equipment acquisitions, not yet paid	$ 5,827	$ 9,450

Condensed Consolidated Financia

Condensed Consolidated Financial Information	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Condensed Consolidated Financial Information	NOTE 1. CONDENSED CONSOLIDATED FINANCIAL INFORMATION The condensed consolidated financial statements for the three and nine months ended September 30, 2020 and 2019 have not been audited, but in the opinion of management, all adjustments (consisting of normal recurring accruals, consolidating and eliminating entries) necessary for the fair presentation of the consolidated financial position, results of operations and cash flows of McGrath RentCorp (the “Company”) have been made. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and note disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to those rules and regulations. The consolidated results for the three and nine months ended September 30, 2020 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 25, 2020 for the year ended December 31, 2019 (the “2019 Annual Report”).

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
New Accounting Pronouncements	NOTE 2. NEW ACCOUNTING PRONOUNCEMENTS In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, expected to reduce cost and complexity related to the accounting for income taxes. The ASU removes specific exceptions to the general principles in Topic 740 in GAAP. It eliminates the need for an organization to analyze whether the following apply in a given period: exception to the incremental approach for intra-period tax allocation; exceptions to accounting for basis differences when there are ownership changes in foreign investments; and exception in interim period income tax accounting for year-to-date losses that exceed anticipated losses. The ASU also improves financial statement preparers’ application of income tax-related guidance and simplifies GAAP for: franchise taxes that are partially based on income; transactions with a government that result in a step up in the tax basis of goodwill; separate financial statements of legal entities that are not subject to tax; and enacted changes in tax laws in interim periods. For public business entities, this ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company is evaluating the impact of this guidance on its consolidated financial statements.

Implemented Accounting Pronounc

Implemented Accounting Pronouncements	9 Months Ended
	Sep. 30, 2020
Accounting Changes And Error Corrections [Abstract]
Implemented Accounting Pronouncements	NOTE 3. IMPLEMENTED ACCOUNTING PRONOUNCEMENTS The Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326) effective January 1, 2020. Under the new guidance, companies are required to present financial assets held at amortized cost and available for sale debt securities net of the amount expected to be collected. The new guidance requires the measurement of expected credit losses to be based on relevant information from past events, including historical experiences, current conditions and reasonable and supportable forecasts that affect collectability. The adoption of this new guidance did not have a material impact on the Company’s condensed consolidated financial statements. Trade accounts receivable The allowance for doubtful accounts is based on the Company’s assessment of the collectability of customer accounts receivable from operating lease and non-lease revenues. The Company regularly reviews the allowance by considering factors such as historical payment experience and trends, the age of the accounts receivable balances, the Company’s operating segment, customer industry, credit quality and current economic conditions that may affect a customer’s ability to pay. The Company recognized bad debt expense of $0.4 million and $1.2 million for the three and nine months ended September 30, 2020, respectively. Bad debt expense for the three and nine months ended September 30, 2019 was $0.3 million and $0.7 million, respectively. The allowance for doubtful accounts was $2.2 million and $1.9 million at September 30, 2020 and December 31, 2019, respectively. Net investment in sales-type leases The Company enters into sales-type leases with certain qualified customers to purchase its rental equipment, primarily at its TRS-RenTelco operating segment. Sales-type leases have terms that generally range from 12 to 36 months and are collateralized by a security interest in the underlying rental asset. The net investment in sales-type leases was $1.9 million at September 30, 2020 and $2.9 million at December 31, 2019. The Company’s assessment of current expected losses on these receivables was not material and no credit loss expense was provided as of September 30, 2020. The Company regularly reviews the allowance by considering factors such as historical payment experience, the age of the lease receivable balances, credit quality and current economic conditions that may affect a customer's ability to pay. Lease receivables are considered past due 90 days after invoice. The Company manages the credit risk in net investment in sales-type leases using a number of factors, including, but not limited to the following: historical payment history, credit score, size of operations, length of time in business, industry, historical profitability, historical cash flows, liquidity and past due amounts. The Company uses credit scores obtained from external credit bureaus as a key indicator for the purposes of determining credit quality of its new customers. The Company does not own available for sale debt securities or other financial assets at September 30 , 2020.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
Revenue Recognition	NOTE 4. 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 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 $20.7 million and $17.5 million at September 30, 2020 and December 31, 2019, respectively. Sales revenues totaling $7.1 million and $15.6 million were recognized during the three and nine months ended September 30, 2020, respectively, which were included in the contract liability balance at December 31, 2019. 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 $0.4 million and $1.0 million at September 30, 2020 and December 31, 2019, 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. In the three and nine months ended September 30, 2020, the Company’s lease revenues were $100.7 million and $300.8 million, respectively, consisting of $100.0 million and $299.0 million of operating lease revenues, respectively, and $0.7 million and $1.8 million of finance lease revenues, respectively. 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 straight-line basis, which results in a constant rate of return on the unrecovered lease investment. The Company’s finance lease revenues for the nine months ended September 30, 2020 include $1.7 million of sales revenues and $0.2 million of interest income. 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 months and nine months ended September 30, 2020 and 2019: (in thousands) Mobile Modular TRS- RenTelco Adler Tanks Enviroplex Consolidated Three Months Ended September 30, 2020 Leasing $ 58,655 $ 28,530 $ 13,532 $ — $ 100,717 Non-lease: Rental related services 7,488 668 5,465 — 13,621 Sales 29,275 6,262 230 5,914 41,681 Other (5 ) 396 38 — 429 Total non-lease 36,758 7,326 5,733 5,914 55,731 Total revenues $ 95,413 $ 35,856 $ 19,265 $ 5,914 $ 156,448 2019 Leasing $ 61,519 $ 28,284 $ 17,412 $ — $ 107,215 Non-lease: Rental related services 8,105 717 7,217 — 16,039 Sales 16,676 4,614 140 28,361 49,791 Other 2 475 40 — 517 Total non-lease 24,783 5,806 7,397 28,361 66,347 Total revenues $ 86,302 $ 34,090 $ 24,809 $ 28,361 $ 173,562 Nine Months Ended September 30, 2020 Leasing $ 175,781 $ 83,587 $ 41,458 $ — $ 300,826 Non-lease: Rental related services 17,711 1,950 16,110 — 35,771 Sales 51,847 16,271 960 16,616 85,694 Other 34 1,190 59 — 1,283 Total non-lease 69,592 19,411 17,129 16,616 122,748 Total revenues $ 245,373 $ 102,998 $ 58,587 $ 16,616 $ 423,574 2019 Leasing $ 171,995 $ 79,450 $ 52,709 $ — $ 304,154 Non-lease: Rental related services 15,651 1,958 20,760 — 38,369 Sales 31,401 14,235 1,003 32,238 78,877 Other 69 1,433 107 — 1,609 Total non-lease 47,121 17,626 21,870 32,238 118,855 Total revenues $ 219,116 $ 97,076 $ 74,579 $ 32,238 $ 423,009 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 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.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 5. 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 September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Weighted-average number of shares of common stock for calculating basic earnings per share 24,097 24,268 24,170 24,237 Effect of potentially dilutive securities from equity-based compensation 346 364 388 355 Weighted-average number of shares of common stock for calculating diluted earnings per share 24,443 24,632 24,558 24,592 There were no anti-dilutive securities excluded from the computation of diluted earnings per share in the three and nine months ended September 30, 2020 and 2019. The Company has 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 up to 2,000,000 shares of the Company's outstanding common stock (the “Repurchase Plan”). 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 Plan may be modified, extended or terminated by the Company’s Board of Directors at any time. The following table presents share repurchase activities during the three and nine months ended September 30, 2020 and 2019. As of September 30, 2020, 1,309,805 shares remained authorized for repurchase under the Repurchase Plan. Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share and per share amounts) 2020 2019 2020 2019 Number of shares repurchased 2,355 — 282,221 — Aggregate purchase price $ 117 $ — $ 13,617 $ — Average price per repurchased share $ 49.61 $ — $ 48.25 $ —

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	NOTE 6. INTANGIBLE ASSETS Intangible assets consist of the following: (dollar amounts in thousands) Estimated useful life in years September 30, 2020 December 31, 2019 Trade name Indefinite $ 5,871 $ 5,871 Customer relationships 11 10,644 10,644 Non-compete agreements 5 157 157 16,672 16,672 Less accumulated amortization (9,505 ) (9,338 ) $ 7,167 $ 7,334 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. In response to the COVID-19 pandemic, the Company last conducted a qualitative analysis of its goodwill and intangible assets in the first quarter 2020 and determined that no impairment triggering event had occurred. Intangible assets with finite useful lives are amortized over their respective useful lives. Based on the carrying values at September 30, 2020 and assuming no subsequent impairment of the underlying assets, the amortization expense is expected to be $0.1 million for the remainder of fiscal year 2020, and $0.2 million in 2021 through 2026.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Reporting	NOTE 7. SEGMENT REPORTING The Company’s four reportable segments are (1) its modular building and portable storage container rental 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 1 – Summary of Significant Accounting Policies” in the Company’s 2019 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 nine months ended September 30, 2020 and 2019 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 Nine Months Ended September 30, 2020 Rental revenues $ 141,172 $ 81,167 $ 40,934 $ — $ 263,273 Rental related services revenues 51,291 2,296 16,439 — 70,026 Sales and other revenues 52,910 19,535 1,214 16,616 90,275 Total revenues 245,373 102,998 58,587 16,616 423,574 Depreciation of rental equipment 17,177 35,129 12,334 — 64,640 Gross profit 116,928 43,921 26,116 6,128 193,093 Selling and administrative expenses 52,014 18,198 18,998 4,155 93,365 Income from operations 64,914 25,723 7,118 1,973 99,728 Interest (expense) income allocation (3,982 ) (1,606 ) (1,651 ) 435 (6,804 ) Income before provision for income taxes 60,932 23,928 5,467 2,408 92,735 Rental equipment acquisitions 31,667 31,643 1,680 — 64,990 Accounts receivable, net (period end) 85,033 23,758 14,567 6,075 129,433 Rental equipment, at cost (period end) 885,314 335,520 316,110 — 1,536,944 Rental equipment, net book value (period end) 613,357 161,120 173,648 — 948,125 Utilization (period end) 2 76.5 % 68.4 % 45.5 % Average utilization 2 77.5 % 65.6 % 45.5 % 2019 Rental revenues $ 133,736 $ 76,050 $ 51,872 $ — $ 261,658 Rental related services revenues 52,946 2,425 21,367 — 76,738 Sales and other revenues 32,434 18,601 1,340 32,238 84,613 Total revenues 219,116 97,076 74,579 32,238 423,009 Depreciation of rental equipment 16,449 30,533 12,240 — 59,222 Gross profit 102,029 44,673 36,380 12,086 195,168 Selling and administrative expenses 48,013 18,101 22,054 3,876 92,044 Income from operations 54,016 26,572 14,326 8,210 103,124 Interest (expense) income allocation (5,948 ) (1,662 ) (2,598 ) 801 (9,407 ) Income before provision for income taxes 48,068 24,864 11,728 9,011 93,671 Rental equipment acquisitions 62,084 66,525 3,884 — 132,493 Accounts receivable, net (period end) 88,893 22,515 19,382 7,324 138,114 Rental equipment, at cost (period end) 865,254 321,677 315,838 — 1,502,769 Rental equipment, net book value (period end) 607,949 162,196 188,465 — 958,610 Utilization (period end) 2 79.5 % 67.1 % 51.0 % Average utilization 2 79.1 % 66.0 % 56.2 % 1 . Gross Enviroplex sales revenues were $17,893 and $32,237 for the nine months ended September 30, 2020 and 2019, respectively. There were 1,277 2. Utilization is calculated each month by dividing the cost of rental equipment on rent by the total cost of rental equipment, excluding accessory equipment, and for Mobile Modular and Adler Tanks, excluding new equipment inventory. The Average utilization for the period is calculated using the average costs of rental equipment . No single customer accounted for more than 10% of total revenues for the nine months ended September 30, 2020 and 2019. Revenues from foreign country customers accounted for 2% and 3% of the Company’s total revenues for the same periods, respectively.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2020
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 months and nine months ended September 30, 2020 and 2019: (in thousands) Mobile Modular TRS- RenTelco Adler Tanks Enviroplex Consolidated Three Months Ended September 30, 2020 Leasing $ 58,655 $ 28,530 $ 13,532 $ — $ 100,717 Non-lease: Rental related services 7,488 668 5,465 — 13,621 Sales 29,275 6,262 230 5,914 41,681 Other (5 ) 396 38 — 429 Total non-lease 36,758 7,326 5,733 5,914 55,731 Total revenues $ 95,413 $ 35,856 $ 19,265 $ 5,914 $ 156,448 2019 Leasing $ 61,519 $ 28,284 $ 17,412 $ — $ 107,215 Non-lease: Rental related services 8,105 717 7,217 — 16,039 Sales 16,676 4,614 140 28,361 49,791 Other 2 475 40 — 517 Total non-lease 24,783 5,806 7,397 28,361 66,347 Total revenues $ 86,302 $ 34,090 $ 24,809 $ 28,361 $ 173,562 Nine Months Ended September 30, 2020 Leasing $ 175,781 $ 83,587 $ 41,458 $ — $ 300,826 Non-lease: Rental related services 17,711 1,950 16,110 — 35,771 Sales 51,847 16,271 960 16,616 85,694 Other 34 1,190 59 — 1,283 Total non-lease 69,592 19,411 17,129 16,616 122,748 Total revenues $ 245,373 $ 102,998 $ 58,587 $ 16,616 $ 423,574 2019 Leasing $ 171,995 $ 79,450 $ 52,709 $ — $ 304,154 Non-lease: Rental related services 15,651 1,958 20,760 — 38,369 Sales 31,401 14,235 1,003 32,238 78,877 Other 69 1,433 107 — 1,609 Total non-lease 47,121 17,626 21,870 32,238 118,855 Total revenues $ 219,116 $ 97,076 $ 74,579 $ 32,238 $ 423,009

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
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 September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Weighted-average number of shares of common stock for calculating basic earnings per share 24,097 24,268 24,170 24,237 Effect of potentially dilutive securities from equity-based compensation 346 364 388 355 Weighted-average number of shares of common stock for calculating diluted earnings per share 24,443 24,632 24,558 24,592
Summary of Share Repurchase Activity	The following table presents share repurchase activities during the three and nine months ended September 30, 2020 and 2019. Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share and per share amounts) 2020 2019 2020 2019 Number of shares repurchased 2,355 — 282,221 — Aggregate purchase price $ 117 $ — $ 13,617 $ — Average price per repurchased share $ 49.61 $ — $ 48.25 $ —

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2020
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 September 30, 2020 December 31, 2019 Trade name Indefinite $ 5,871 $ 5,871 Customer relationships 11 10,644 10,644 Non-compete agreements 5 157 157 16,672 16,672 Less accumulated amortization (9,505 ) (9,338 ) $ 7,167 $ 7,334

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Summarized Financial Information for Company's Reportable Segments	Summarized financial information for the nine months ended September 30, 2020 and 2019 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 Nine Months Ended September 30, 2020 Rental revenues $ 141,172 $ 81,167 $ 40,934 $ — $ 263,273 Rental related services revenues 51,291 2,296 16,439 — 70,026 Sales and other revenues 52,910 19,535 1,214 16,616 90,275 Total revenues 245,373 102,998 58,587 16,616 423,574 Depreciation of rental equipment 17,177 35,129 12,334 — 64,640 Gross profit 116,928 43,921 26,116 6,128 193,093 Selling and administrative expenses 52,014 18,198 18,998 4,155 93,365 Income from operations 64,914 25,723 7,118 1,973 99,728 Interest (expense) income allocation (3,982 ) (1,606 ) (1,651 ) 435 (6,804 ) Income before provision for income taxes 60,932 23,928 5,467 2,408 92,735 Rental equipment acquisitions 31,667 31,643 1,680 — 64,990 Accounts receivable, net (period end) 85,033 23,758 14,567 6,075 129,433 Rental equipment, at cost (period end) 885,314 335,520 316,110 — 1,536,944 Rental equipment, net book value (period end) 613,357 161,120 173,648 — 948,125 Utilization (period end) 2 76.5 % 68.4 % 45.5 % Average utilization 2 77.5 % 65.6 % 45.5 % 2019 Rental revenues $ 133,736 $ 76,050 $ 51,872 $ — $ 261,658 Rental related services revenues 52,946 2,425 21,367 — 76,738 Sales and other revenues 32,434 18,601 1,340 32,238 84,613 Total revenues 219,116 97,076 74,579 32,238 423,009 Depreciation of rental equipment 16,449 30,533 12,240 — 59,222 Gross profit 102,029 44,673 36,380 12,086 195,168 Selling and administrative expenses 48,013 18,101 22,054 3,876 92,044 Income from operations 54,016 26,572 14,326 8,210 103,124 Interest (expense) income allocation (5,948 ) (1,662 ) (2,598 ) 801 (9,407 ) Income before provision for income taxes 48,068 24,864 11,728 9,011 93,671 Rental equipment acquisitions 62,084 66,525 3,884 — 132,493 Accounts receivable, net (period end) 88,893 22,515 19,382 7,324 138,114 Rental equipment, at cost (period end) 865,254 321,677 315,838 — 1,502,769 Rental equipment, net book value (period end) 607,949 162,196 188,465 — 958,610 Utilization (period end) 2 79.5 % 67.1 % 51.0 % Average utilization 2 79.1 % 66.0 % 56.2 % 1 . Gross Enviroplex sales revenues were $17,893 and $32,237 for the nine months ended September 30, 2020 and 2019, respectively. There were 1,277 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 .

Implemented Accounting Pronou_2

Implemented Accounting Pronouncements - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Bad debt expense	$ 400,000	$ 300,000	$ 1,227,000	$ 655,000
Allowance for doubtful accounts	2,200,000		2,200,000		$ 1,883,000
Net investment in sales-type leases	$ 1,900,000		1,900,000		$ 2,900,000
Credit loss expense			$ 0
Minimum [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Sales-type leases terms	12 months		12 months
Maximum [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Sales-type leases terms	36 months		36 months

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Disaggregation Of Revenue [Line Items]
Period for credit risk identified		30 days
Sales revenues totaling	$ 7.1	$ 15.6
Lease revenue	100.7	300.8
Operating lease revenue	100	299
Finance lease revenue	0.7	1.8
Finance lease revenue, sales revenue		1.7
Finance lease revenue, interest income		$ 0.2
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	20.7	$ 20.7	$ 17.5
Accounts Receivable [Member]
Disaggregation Of Revenue [Line Items]
Unbilled contract assets	$ 0.4	$ 0.4	$ 1

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		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020		Sep. 30, 2019
Disaggregation Of Revenue [Line Items]
Leasing revenues		$ 100,700		$ 300,800
Total non-lease revenues				90,275		$ 84,613
Total revenues		156,448	$ 173,562	423,574		423,009
Leasing [Member]
Disaggregation Of Revenue [Line Items]
Leasing revenues		100,717	107,215	300,826		304,154
Non-lease Rental Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		13,621	16,039	35,771		38,369
Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		41,681	49,791	85,694		78,877
Non-lease Other [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		429	517	1,283		1,609
Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		55,731	66,347	122,748		118,855
Mobile Modular [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues				52,910		32,434
Total revenues		95,413	86,302	245,373		219,116
Mobile Modular [Member] | Leasing [Member]
Disaggregation Of Revenue [Line Items]
Leasing revenues		58,655	61,519	175,781		171,995
Mobile Modular [Member] | Non-lease Rental Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		7,488	8,105	17,711		15,651
Mobile Modular [Member] | Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		29,275	16,676	51,847		31,401
Mobile Modular [Member] | Non-lease Other [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		(5)	2	34		69
Mobile Modular [Member] | Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		36,758	24,783	69,592		47,121
TRS-RenTelco [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues				19,535		18,601
Total revenues		35,856	34,090	102,998		97,076
TRS-RenTelco [Member] | Leasing [Member]
Disaggregation Of Revenue [Line Items]
Leasing revenues		28,530	28,284	83,587		79,450
TRS-RenTelco [Member] | Non-lease Rental Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		668	717	1,950		1,958
TRS-RenTelco [Member] | Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		6,262	4,614	16,271		14,235
TRS-RenTelco [Member] | Non-lease Other [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		396	475	1,190		1,433
TRS-RenTelco [Member] | Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		7,326	5,806	19,411		17,626
Adler Tanks [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues				1,214		1,340
Total revenues		19,265	24,809	58,587		74,579
Adler Tanks [Member] | Leasing [Member]
Disaggregation Of Revenue [Line Items]
Leasing revenues		13,532	17,412	41,458		52,709
Adler Tanks [Member] | Non-lease Rental Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		5,465	7,217	16,110		20,760
Adler Tanks [Member] | Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		230	140	960		1,003
Adler Tanks [Member] | Non-lease Other [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		38	40	59		107
Adler Tanks [Member] | Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		5,733	7,397	17,129		21,870
Enviroplex [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues	[1]			16,616		32,238
Total revenues		5,914	28,361	16,616	[1]	32,238	[1]
Enviroplex [Member] | Non-lease Sales [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		5,914	28,361	16,616		32,238
Enviroplex [Member] | Non-lease Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total non-lease revenues		$ 5,914	$ 28,361	$ 16,616		$ 32,238
[1]	Gross Enviroplex sales revenues were $17,893 and $32,237 for the nine months ended September 30, 2020 and 2019, respectively. There were 1,277

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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Weighted-average number of shares of common stock for calculating basic earnings per share	24,097	24,268	24,170	24,237
Effect of potentially dilutive securities from equity-based compensation	346	364	388	355
Weighted-average number of shares of common stock for calculating diluted earnings per share	24,443	24,632	24,558	24,592

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Aug. 31, 2015
Earnings Per Share Basic [Line Items]
Anti-dilutive securities excluded from computation of diluted earnings per share	0	0	0	0
Shares remain authorized for repurchase	1,309,805		1,309,805
Maximum [Member]
Earnings Per Share Basic [Line Items]
Common stock shares authorized for repurchase					2,000,000

Earnings Per Share - Summary of

Earnings Per Share - Summary of Share Repurchase Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Earnings Per Share [Abstract]
Number of shares repurchased	2,355	282,221
Aggregate purchase price	$ 117	$ 13,617
Average price per repurchased share	$ 49.61	$ 48.25

Intangible Assets - Summary of

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Trade name	$ 5,871	$ 5,871
Customer relationships	10,644	10,644
Non-compete agreements	157	157
Intangible Assets, gross	16,672	16,672
Less accumulated amortization	(9,505)	(9,338)
Intangible Assets, net	$ 7,167	$ 7,334
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Estimated useful life in years	11 years
Non-compete Agreements [Member]
Finite Lived Intangible Assets [Line Items]
Estimated useful life in years	5 years

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Jun. 30, 2020	Sep. 30, 2020
Finite Lived Intangible Assets [Line Items]
Subsequent impairment of the underlying assets		$ 0
Expected annual amortization expense for 2020		100,000
Expected annual amortization expense for 2021		200,000
Expected annual amortization expense for 2022		200,000
Expected annual amortization expense for 2023		200,000
Expected annual amortization expense for 2024		200,000
Expected annual amortization expense for 2025		200,000
Expected annual amortization expense for 2026		$ 200,000
COVID-19 [Member]
Finite Lived Intangible Assets [Line Items]
Impairment charge	$ 0

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2020SegmentCustomer	Sep. 30, 2019Customer
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	2.00%	3.00%

Segment Reporting - Summarized

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020		Sep. 30, 2019		Dec. 31, 2019
Segment Reporting Information [Line Items]
Rental revenues		$ 88,138	$ 90,857	$ 263,273		$ 261,658
Rental related services revenues		25,040	30,816	70,026		76,738
Sales and other revenues				90,275		84,613
Total revenues		156,448	173,562	423,574		423,009
Depreciation of rental equipment		21,419	20,535	64,640		59,222
Gross profit		68,204	78,282	193,093		195,168
Selling and administrative expenses		30,871	31,534	93,365		92,044
Income from operations		37,333	46,748	99,728		103,124
Interest (expense) income allocation				(6,804)		(9,407)
Income before provision for income taxes		35,495	43,455	92,735		93,671
Rental equipment acquisitions				64,990		132,493
Accounts receivable, net (period end)		129,433	138,114	129,433		138,114		$ 128,099
Rental equipment, at cost (period end)		1,536,944	1,502,769	1,536,944		1,502,769		1,520,411
Rental equipment, net book value (period end)		948,125	958,610	948,125		958,610		$ 967,500
Mobile Modular [Member]
Segment Reporting Information [Line Items]
Rental revenues				141,172		133,736
Rental related services revenues				51,291		52,946
Sales and other revenues				52,910		32,434
Total revenues		95,413	86,302	245,373		219,116
Depreciation of rental equipment				17,177		16,449
Gross profit				116,928		102,029
Selling and administrative expenses				52,014		48,013
Income from operations				64,914		54,016
Interest (expense) income allocation				(3,982)		(5,948)
Income before provision for income taxes				60,932		48,068
Rental equipment acquisitions				31,667		62,084
Accounts receivable, net (period end)		85,033	88,893	85,033		88,893
Rental equipment, at cost (period end)		885,314	865,254	885,314		865,254
Rental equipment, net book value (period end)		613,357	607,949	$ 613,357		$ 607,949
Utilization (period end)	[1]			76.50%		79.50%
Average utilization	[1]			77.50%		79.10%
TRS-RenTelco [Member]
Segment Reporting Information [Line Items]
Rental revenues				$ 81,167		$ 76,050
Rental related services revenues				2,296		2,425
Sales and other revenues				19,535		18,601
Total revenues		35,856	34,090	102,998		97,076
Depreciation of rental equipment				35,129		30,533
Gross profit				43,921		44,673
Selling and administrative expenses				18,198		18,101
Income from operations				25,723		26,572
Interest (expense) income allocation				(1,606)		(1,662)
Income before provision for income taxes				23,928		24,864
Rental equipment acquisitions				31,643		66,525
Accounts receivable, net (period end)		23,758	22,515	23,758		22,515
Rental equipment, at cost (period end)		335,520	321,677	335,520		321,677
Rental equipment, net book value (period end)		161,120	162,196	$ 161,120		$ 162,196
Utilization (period end)	[1]			68.40%		67.10%
Average utilization	[1]			65.60%		66.00%
Adler Tanks [Member]
Segment Reporting Information [Line Items]
Rental revenues				$ 40,934		$ 51,872
Rental related services revenues				16,439		21,367
Sales and other revenues				1,214		1,340
Total revenues		19,265	24,809	58,587		74,579
Depreciation of rental equipment				12,334		12,240
Gross profit				26,116		36,380
Selling and administrative expenses				18,998		22,054
Income from operations				7,118		14,326
Interest (expense) income allocation				(1,651)		(2,598)
Income before provision for income taxes				5,467		11,728
Rental equipment acquisitions				1,680		3,884
Accounts receivable, net (period end)		14,567	19,382	14,567		19,382
Rental equipment, at cost (period end)		316,110	315,838	316,110		315,838
Rental equipment, net book value (period end)		173,648	188,465	$ 173,648		$ 188,465
Utilization (period end)	[1]			45.50%		51.00%
Average utilization	[1]			45.50%		56.20%
Enviroplex [Member]
Segment Reporting Information [Line Items]
Sales and other revenues	[2]			$ 16,616		$ 32,238
Total revenues		5,914	28,361	16,616	[2]	32,238	[2]
Gross profit	[2]			6,128		12,086
Selling and administrative expenses	[2]			4,155		3,876
Income from operations	[2]			1,973		8,210
Interest (expense) income allocation	[2]			435		801
Income before provision for income taxes	[2]			2,408		9,011
Accounts receivable, net (period end)	[2]	$ 6,075	$ 7,324	$ 6,075		$ 7,324
[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 $17,893 and $32,237 for the nine months ended September 30, 2020 and 2019, respectively. There were 1,277

Segment Reporting - Summarize_2

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Parenthetical) (Detail) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020		Sep. 30, 2019
Segment Reporting Information [Line Items]
Revenues		$ 156,448,000	$ 173,562,000	$ 423,574,000		$ 423,009,000
Sales revenues				(90,275,000)		(84,613,000)
Sales [Member]
Segment Reporting Information [Line Items]
Sales revenues		(42,331,000)	(50,855,000)	(87,366,000)		(81,387,000)
Enviroplex [Member]
Segment Reporting Information [Line Items]
Revenues		5,914,000	28,361,000	16,616,000	[1]	32,238,000	[1]
Sales revenues	[1]			(16,616,000)		(32,238,000)
Mobile Modular [Member]
Segment Reporting Information [Line Items]
Revenues		$ 95,413,000	$ 86,302,000	245,373,000		219,116,000
Sales revenues				(52,910,000)		(32,434,000)
Operating Segments [Member] | Enviroplex [Member] | Sales [Member]
Segment Reporting Information [Line Items]
Revenues				17,893,000		32,237,000
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				$ 1,277,000
Type of Revenue [Extensible List]				us-gaap:ProductMember
[1]	Gross Enviroplex sales revenues were $17,893 and $32,237 for the nine months ended September 30, 2020 and 2019, respectively. There were 1,277