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Business Combinations and Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Acquisitions
The aggregate purchase price paid for these acquisitions and the opening balance sheet were as follows:
(in thousands)
Purchase Price:
Cash used in acquisitions, net of cash acquired of $3,245
$411,593 
Allocated as follows:
Trade receivables8,452 (a)
Inventories2,017 
Deferred tax assets931 
Rental equipment214,936 (b)
Property, plant, and equipment3,376 
Operating lease assets5,028 
Intangibles - customer relationships26,408 (b)
Other assets3,669 
Accounts payable(276)
Deferred revenue(11,635)
Operating lease liabilities(3,633)
Other liabilities(2,182)
Total identifiable net assets247,091 
Goodwill164,502 
Total net assets acquired$411,593 
(a)As of the acquisition date, the fair value of accounts receivable was $8.5 million, and the gross contractual amount was $11.5 million. The Company analyzed information available at the time of acquisition in estimating uncollectible receivables and the fair value of acquired receivables.
(b)The initial fair value assumptions used included preliminary estimates of the replacement cost of rental equipment, discount rates, royalty rates, and customer attrition rates which have been updated in preparing these valuations and the underlying assets have been adjusted from those previously recorded accordingly. Rental equipment and intangible assets were increased by approximately $12.9 million and $26.4 million from amounts previously reported, respectively.