XML 41 R28.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Segment Reporting (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Segment Reporting [Abstract] |
Summarized Financial Information for Company's Reportable Segments | Summarized financial information for the years ended December 31, 2017, 2016 and 2015, for the Company’s reportable segments is shown in the following tables:
Segment Data (dollar amounts in thousands) |  | Mobile Modular |  |  | TRS- RenTelco |  |  | Adler Tanks |  |  | Enviroplex 1 |  |  | Consolidated |
Year Ended December 31, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rental revenues |  | $ | 142,584 |  |  | $ | 82,812 |  |  | $ | 64,021 |  |  | $ | — |  |  | $ | 289,417 |
Rental related services revenues |  |  | 50,448 |  |  |  | 2,858 |  |  |  | 24,762 |  |  | — |  |  |  | 78,068 |
Sales and other revenues |  |  | 38,234 |  |  |  | 22,374 |  |  |  | 2,572 |  |  |  | 31,369 |  |  |  | 94,549 |
Total revenues |  |  | 231,266 |  |  |  | 108,044 |  |  |  | 91,355 |  |  |  | 31,369 |  |  |  | 462,034 |
Depreciation of rental equipment |  |  | 21,247 |  |  |  | 32,891 |  |  |  | 15,770 |  |  | — |  |  |  | 69,908 |
Gross profit |  |  | 103,935 |  |  |  | 50,289 |  |  |  | 43,218 |  |  |  | 8,903 |  |  |  | 206,345 |
Selling and administrative expenses |  |  | 55,583 |  |  |  | 22,171 |  |  |  | 29,542 |  |  |  | 4,309 |  |  |  | 111,605 |
Income from operations |  |  | 48,352 |  |  |  | 28,118 |  |  |  | 13,676 |  |  |  | 4,594 |  |  |  | 94,740 |
Interest expense (income) allocation |  |  | (6,671 | ) |  |  | (2,320 | ) |  |  | (3,071 | ) |  |  | 440 |  |  |  | (11,622 | )
Income before (benefit) provision for income taxes |  |  | 41,681 |  |  |  | 26,132 |  |  |  | 10,605 |  |  |  | 5,034 |  |  |  | 83,452 |
Rental equipment acquisitions |  |  | 34,526 |  |  |  | 58,781 |  |  |  | 4,800 |  |  | — |  |  |  | 98,107 |
Accounts receivable, net (period end) |  |  | 59,274 |  |  |  | 19,581 |  |  |  | 18,663 |  |  |  | 8,354 |  |  |  | 105,872 |
Rental equipment, at cost (period end) |  |  | 775,400 |  |  |  | 262,325 |  |  |  | 309,808 |  |  | — |  |  |  | 1,347,533 |
Rental equipment, net book value (period end) |  |  | 543,857 |  |  |  | 109,482 |  |  |  | 208,981 |  |  | — |  |  |  | 862,320 |
Utilization (period end) 2 |  |  | 77.8 | % |  |  | 61.7 | % |  |  | 57.5 | % |  |  |  |  |  |  |  |
Average utilization 2 |  |  | 76.8 | % |  |  | 62.9 | % |  |  | 56.0 | % |  |  |  |  |  |  |  |
Segment Data (Continued) (dollar amounts in thousands) |  | Mobile Modular |  |  | TRS- RenTelco |  |  | Adler Tanks |  |  | Enviroplex 1 |  |  | Consolidated |
Year Ended December 31, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rental revenues |  | $ | 130,496 |  |  | $ | 82,307 |  |  | $ | 58,585 |  |  | $ | — |  |  | $ | 271,388 |
Rental related services revenues |  |  | 49,206 |  |  |  | 2,846 |  |  |  | 23,807 |  |  | — |  |  |  | 75,859 |
Sales and other revenues |  |  | 29,810 |  |  |  | 23,464 |  |  |  | 1,438 |  |  |  | 22,121 |  |  |  | 76,833 |
Total revenues |  |  | 209,512 |  |  |  | 108,617 |  |  |  | 83,830 |  |  |  | 22,121 |  |  |  | 424,080 |
Depreciation of rental equipment |  |  | 21,001 |  |  |  | 35,256 |  |  |  | 15,940 |  |  | — |  |  |  | 72,197 |
Gross profit |  |  | 93,816 |  |  |  | 45,797 |  |  |  | 37,409 |  |  |  | 7,145 |  |  |  | 184,167 |
Selling and administrative expenses |  |  | 51,432 |  |  |  | 21,896 |  |  |  | 27,610 |  |  |  | 3,970 |  |  |  | 104,908 |
Income from operations |  |  | 42,384 |  |  |  | 23,901 |  |  |  | 9,799 |  |  |  | 3,175 |  |  |  | 79,259 |
Interest expense (income) allocation |  |  | (6,804 | ) |  |  | (2,465 | ) |  |  | (3,200 | ) |  |  | 262 |  |  |  | (12,207 | )
Income before provision for income taxes |  |  | 35,580 |  |  |  | 21,315 |  |  |  | 6,599 |  |  |  | 3,437 |  |  |  | 66,931 |
Rental equipment acquisitions |  |  | 43,099 |  |  |  | 30,505 |  |  |  | 1,030 |  |  | — |  |  |  | 74,634 |
Accounts receivable, net (period end) |  |  | 55,916 |  |  |  | 19,506 |  |  |  | 16,150 |  |  |  | 5,305 |  |  |  | 96,877 |
Rental equipment, at cost (period end) |  |  | 744,099 |  |  |  | 245,700 |  |  |  | 306,701 |  |  | — |  |  |  | 1,324,057 |
Rental equipment, net book value (period end) |  |  | 544,421 |  |  |  | 90,172 |  |  |  | 221,778 |  |  | — |  |  |  | 856,371 |
Utilization (period end) 2 |  |  | 77.3 | % |  |  | 61.0 | % |  |  | 50.7 | % |  |  |  |  |  |  |  |
Average utilization 2 |  |  | 76.6 | % |  |  | 60.6 | % |  |  | 50.1 | % |  |  |  |  |  |  |  |
2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rental revenues |  | $ | 115,986 |  |  | $ | 89,208 |  |  | $ | 68,502 |  |  | $ | — |  |  | $ | 273,696 |
Rental related services revenues |  |  | 45,616 |  |  |  | 3,055 |  |  |  | 24,643 |  |  | — |  |  |  | 73,314 |
Sales and other revenues |  |  | 22,682 |  |  |  | 22,754 |  |  |  | 1,486 |  |  |  | 10,612 |  |  |  | 57,534 |
Total revenues |  |  | 184,284 |  |  |  | 115,017 |  |  |  | 94,631 |  |  |  | 10,612 |  |  |  | 404,544 |
Depreciation of rental equipment |  |  | 19,246 |  |  |  | 39,974 |  |  |  | 15,993 |  |  | — |  |  |  | 75,213 |
Gross profit |  |  | 78,771 |  |  |  | 47,836 |  |  |  | 47,397 |  |  |  | 2,903 |  |  |  | 176,907 |
Selling and administrative expenses |  |  | 46,496 |  |  |  | 22,930 |  |  |  | 27,494 |  |  |  | 3,030 |  |  |  | 99,950 |
Income from operations |  |  | 32,275 |  |  |  | 24,906 |  |  |  | 19,903 |  |  |  | (127 | ) |  |  | 76,957 |
Interest expense (income) allocation |  |  | (5,363 | ) |  |  | (2,194 | ) |  |  | (2,729 | ) |  |  | 194 |  |  |  | (10,092 | )
Income before provision for income taxes |  |  | 26,912 |  |  |  | 22,224 |  |  |  | 17,174 |  |  |  | 67 |  |  |  | 66,377 |
Rental equipment acquisitions |  |  | 79,622 |  |  |  | 44,316 |  |  |  | 9,440 |  |  | — |  |  |  | 133,378 |
Accounts receivable, net (period end) |  |  | 53,550 |  |  |  | 21,784 |  |  |  | 17,955 |  |  |  | 1,728 |  |  |  | 95,017 |
Rental equipment, at cost (period end) |  |  | 736,875 |  |  |  | 262,945 |  |  |  | 310,263 |  |  | — |  |  |  | 1,310,083 |
Rental equipment, net book value (period end) |  |  | 529,483 |  |  |  | 102,191 |  |  |  | 237,927 |  |  | — |  |  |  | 869,601 |
Utilization (period end) 2 |  |  | 76.9 | % |  |  | 58.7 | % |  |  | 49.7 | % |  |  |  |  |  |  |  |
Average utilization 2 |  |  | 75.8 | % |  |  | 60.5 | % |  |  | 58.3 | % |  |  |  |  |  |  |  |
| 1 | Gross Enviroplex sales revenues were $31,369, $22,206 and $11,530 in 2017, 2016 and 2015, respectively, which includes inter-segment sales to Mobile Modular of $0, $85 and $918, which have been eliminated in consolidation.
| 2 | Utilization is calculated each month by dividing the cost of rental equipment on rent by the total cost of rental equipment excluding new equipment inventory and accessory equipment. The average utilization for the period is calculated using the average costs of rental equipment.

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8736-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration