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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Activity in Allowance for Credit Losses

Activity in the allowance for credit losses for the years ended December 31 was as follows:


(in thousands)	2023		2022		2021
Balance at beginning of period	$	57,048	$	45,773	$	28,105
Provision for credit losses, net of recoveries(a)	49,650		34,881		37,469
Write-offs	(25,182)		(23,705)		(19,777)
Foreign currency translation and other	140		99		(24)
Balance at end of period	$	81,656	$	57,048	$	45,773

(a) For the years ended December 31, 2023, 2022 and 2021, the provision for credit losses included $25.2 million, $23.7 million and $19.8 million, respectively, recorded as a reduction to revenue for the provision of specific receivables whose collection was not considered probable.

Schedule of Property, Plant and Equipment, net

Depreciation is computed using the straight-line method over estimated useful lives, as follows:


	Estimated Useful Life	Residual Value
Modular space units	10 - 30 years	20 - 55%
Portable storage units	7 - 30 years	20 - 55%
VAPS and other related rental equipment	1 - 10 years	0%

Depreciation is computed using the straight-line method over estimated useful lives as follows:


			Estimated Useful Life
Buildings and leasehold improvements			10 - 40 years
Vehicles, machinery, and equipment			3 - 30 years
Furniture and fixtures			3 - 10 years
Software			3 - 10 years

Rental equipment, net at December 31 consisted of the following:


(in thousands)	2023		2022
Modular space units	$	3,541,451	$	3,197,779
Portable storage units	1,009,059		849,193
Value added products	204,933		203,444
Total rental equipment	4,755,443		4,250,416
Less: accumulated depreciation	(1,374,128)		(1,173,129)
Rental equipment, net	$	3,381,315	$	3,077,287

Property, plant and equipment, net at December 31 consisted of the following:


(in thousands)	2023		2022
Land, buildings, and leasehold improvements	$	178,117	$	174,322
Vehicles and equipment	233,793		167,337
Office furniture, fixtures and software	109,460		106,747
Total property, plant and equipment	521,370		448,406
Less: accumulated depreciation	(180,483)		(143,747)
Property, plant and equipment, net	$	340,887	$	304,659