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Intangibles

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangibles

Intangibles

Intangible assets other than goodwill at the respective balance sheet dates consisted of the following:

			June 30, 2021
(in thousands)			Weighted average remaining life (in years)						Gross carrying amount						Accumulated amortization						Net book value
Intangible assets subject to amortization:
Trade name - ModSpace			0.2						$	3,000					$	(2,875)					$	125
Mobile Mini customer relationships			7.1						209,000						(25,048)						183,952
Technology			5.0						1,500						(250)						1,250
Indefinite-lived intangible assets:
Trade name - Mobile Mini									164,000						—						164,000
Trade name - WillScot									125,000						—						125,000
Total intangible assets other than goodwill									$	502,500					$	(28,173)					$	474,327

			December 31, 2020
(in thousands)			Weighted average remaining life (in years)						Gross carrying amount						Accumulated amortization						Net book value
Intangible assets subject to amortization:
Trade name - ModSpace			0.7						$	3,000					$	(2,375)					$	625
Mobile Mini customer relationships			8.0						217,000						(12,053)						204,947
Technology			5.5						1,500						(125)						1,375
Indefinite-lived intangible assets:
Trade name - Mobile Mini									164,000						—						164,000
Trade name - WillScot									125,000						—						125,000
Total intangible assets other than goodwill									$	510,500					$	(14,553)					$	495,947

Amortization expense related to intangible assets was $6.8 million and $0.3 million for the three months ended June 30, 2021 and 2020, respectively, and $13.8 million and $0.5 million for the six months ended June 30, 2021 and 2020, respectively.

As discussed in Note 2, the Company acquired Mobile Mini on July 1, 2020. The Company recorded $164.0 million to indefinite-lived intangible assets and $210.5 million of intangibles subject to amortization related to Mobile Mini customer relationships and technology.

Based on the carrying value at June 30, 2021, future amortization of intangible assets is expected to be as follows for the years ended December 31:

(in thousands)
2021 (remaining)			$	13,334
2022			26,416
2023			26,416
2024			26,416
2025			26,416
Thereafter			66,329
Total			$	185,327

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- References

No definition available.

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- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-URI http://asc.fasb.org/topic&trid=2144416

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