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Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Discontinued Operations
The following tables present the results of the former Tank and Pump segment and the former UK Storage Solutions segment as reported in income from discontinued operations within the consolidated statements of operations, and the carrying value of the former UK Storage Solutions segment's assets and liabilities as presented within assets and liabilities held for sale on the consolidated balance sheet as of December 31, 2022. The 2022 results for the former Tank and Pump segment represent results for the nine months ended September 30, 2022 as the Company sold the former Tank and Pump segment on September 30, 2022. The 2023 results for the former UK Storage Solutions segment represent results for one month as the Company sold the former UK Storage Solutions segment on January 31, 2023.
Year Ended December 31, 2023
(in thousands)UK Storage Solutions
Revenues:
Leasing and services revenue:
Leasing$6,389 
Delivery and installation1,802 
Sales revenue:
New units54 
Rental units449 
Total revenues8,694 
Costs:
Costs of leasing and services:
Leasing1,407 
Delivery and installation1,213 
Costs of sales:
New units38 
Rental units492 
Gross profit5,544 
Expenses:
Selling, general and administrative1,486 
Other income, net(1)
Operating income4,059 
Interest expense56 
Income from discontinued operations before income tax4,003 
Gain on sale of discontinued operations 175,708 
Income tax expense from discontinued operations45,468 
Income from discontinued operations$134,243 
Other selected data:
Adjusted EBITDA from discontinued operations$4,124 
Year Ended December 31, 2022
(in thousands)Tank and PumpUK Storage SolutionsTotal
Revenues:
Leasing and services revenue:
Leasing$65,572 $79,772 $145,344 
Delivery and installation27,665 22,876 50,541 
Sales revenue:
New units2,202 1,106 3,308 
Rental units917 1,455 2,372 
Total revenues96,356 105,209 201,565 
Costs:
Costs of leasing and services:
Leasing13,828 16,737 30,565 
Delivery and installation23,285 14,867 38,152 
Costs of sales:
New units1,636 738 2,374 
Rental units310 1,012 1,322 
Depreciation of rental equipment8,145 4,254 12,399 
Gross profit49,152 67,601 116,753 
Expenses:
Selling, general and administrative18,045 21,795 39,840 
Other depreciation and amortization6,103 5,906 12,009 
Currency losses, net— 138 138 
Other expense, net4 (7)(3)
Operating income25,000 39,769 64,769 
Interest expense512 789 1,301 
Income from discontinued operations before income tax24,488 38,980 63,468 
Income tax expense from discontinued operations843 34,882 35,725 
Gain on sale of discontinued operations35,456 — $35,456 
Income from discontinued operations$59,101 $4,098 $63,199 
Other selected data:
Adjusted EBITDA from discontinued operations$37,016 $48,734 $85,750 
Year Ended December 31, 2021
(in thousands)Tank and PumpUK Storage SolutionsTotal
Revenues:
Leasing and services revenue:
Leasing$77,527 $82,106 $159,633 
Delivery and installation29,530 24,023 53,553 
Sales revenue:
New units2,355 3,534 5,889 
Rental units1,479 1,363 2,842 
Total revenues110,891 111,026 221,917 
Costs:
Costs of leasing and services:
Leasing17,045 17,440 34,485 
Delivery and installation25,057 14,271 39,328 
Costs of sales:
New units1,672 2,357 4,029 
Rental units536 1,287 1,823 
Depreciation of rental equipment14,319 4,428 18,747 
Gross profit52,262 71,243 123,505 
Expenses:
Selling, general and administrative22,194 24,974 47,168 
Other depreciation and amortization9,366 6,887 16,253 
Restructuring costs2 — 2 
Currency gains, net— 121 121 
Other expense, net11 54 65 
Operating income20,689 39,207 59,896 
Interest expense779 850 1,629 
Income from discontinued operations before income tax19,910 38,357 58,267 
Income tax expense from discontinued operations5,277 7,741 13,018 
Income from discontinued operations$14,633 $30,616 $45,249 
Other selected data:
Adjusted EBITDA from discontinued operations$41,750 $49,039 $90,789 
December 31, 2022
(in thousands)UK Storage Solutions
Assets
Cash and cash equivalents$10,384 
Trade receivables, net of allowances for doubtful accounts of $300
15,991 
Inventories3,058 
Prepaid expenses and other current assets1,787 
Rental equipment, net165,853 
Property, plant and equipment, net20,645 
Operating lease assets15,134 
Goodwill58,144 
Intangible assets, net6,414 
Other non-current assets1,832 
Total assets held for sale$299,242 
Liabilities
Accounts payable$4,515 
Accrued expenses3,273 
Accrued employee benefits1,009 
Deferred revenue and customer deposits6,850 
Deferred tax liabilities29,737 
Operating lease liabilities15,192 
Other non-current liabilities6,278 
Total liabilities held for sale$66,854 
For the years ended December 31, 2022 and 2021, significant operating and investing items related to the former Tank and Pump segment were as follows:
Years Ended December 31,
(in thousands)
20222021
Operating activities of discontinued operations:
Depreciation and amortization$14,248 $23,685 
Investing activities of discontinued operations:
Proceeds from sale of rental equipment$918 $1,480 
Purchases of rental equipment and refurbishments$(21,831)$(17,747)
Proceeds from sale of property, plant and equipment$— $388 
Purchases of property, plant and equipment$(525)$(1,743)
The following table presents reconciliations of Income from discontinued operations before income tax to Adjusted EBITDA from discontinued operations for the former Tank and Pump segment for the years ended December 31, 2022 and 2021, respectively. See Note 18 for further information regarding Adjusted EBITDA.
Years Ended December 31,
(in thousands)20222021
Income from discontinued operations$59,101 $14,633 
Gain on sale of discontinued operations35,456 — 
Income tax expense from discontinued operations843 5,277 
Income from discontinued operations before income tax and gain on sale24,488 19,910 
Interest expense512 779 
Depreciation and amortization14,248 23,685 
Restructuring costs, lease impairment expense and other related charges— 2 
Integration costs— 14 
Stock compensation expense18 222 
Other(2,250)(2,862)
Adjusted EBITDA from discontinued operations$37,016 $41,750 
For the years ended December 31, 2023, 2022 and 2021, significant operating and investing items related to the UK Storage Solutions segment were as follows:
Years Ended December 31,
(in thousands)
202320222021
Operating activities of discontinued operations:
Depreciation and amortization$— $10,160 $11,315 
Investing activities of discontinued operations:
Proceeds from sale of rental equipment$514 $1,455 $1,363 
Purchases of rental equipment and refurbishments$(371)$(23,931)$(27,830)
Proceeds from sale of property, plant and equipment$8 $504 $387 
Purchases of property, plant and equipment$(64)$(3,752)$(1,680)
The following table presents reconciliations of Income from discontinued operations before income tax to Adjusted EBITDA from discontinued operations for the UK Storage Solutions segment for the years ended December 31, 2023, 2022 and 2021, respectively. See Note 18 for further information regarding Adjusted EBITDA.
Years Ended December 31,
(in thousands)202320222021
Income from discontinued operations$134,243 $4,098 $30,616 
Gain on sale of discontinued operations175,708 — — 
Income tax expense from discontinued operations45,468 34,882 7,741 
Income from discontinued operations before income tax and gain on sale4,003 38,980 38,357 
Interest expense56 789 850 
Depreciation and amortization— 10,160 11,315 
Currency losses, net— 138 121 
Stock compensation expense(196)197 39 
Other261 (1,530)(1,643)
Adjusted EBITDA from discontinued operations$4,124 $48,734 $49,039