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Segments
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Segments
Note 14: Segments
Our operations are primarily organized and managed by operating segment. Operating segment performance and resource allocations are primarily based on gross profit. Intersegment sales and any related profits are eliminated in consolidation. We manage the business in three reporting segments: Equipment Rental Solutions (“ERS”), Truck and Equipment Sales (“TES”) and Aftermarket Parts and Services (“APS”).
The Company’s segment results are presented in the tables below:
Three Months Ended March 31,
2024
(in $000s)ERSTESAPSTotal
Revenue:
Rental$103,288 $— $2,883 $106,171 
Equipment sales32,740 239,862 — 272,602 
Parts and services— — 32,534 32,534 
Total revenue136,028 239,862 35,417 411,307 
Cost of revenue:
Rentals/parts and services29,800 — 26,254 56,054 
Equipment sales24,098 196,702 — 220,800 
Depreciation of rental equipment42,697 — 1,047 43,744 
Total cost of revenue96,595 196,702 27,301 320,598 
Gross profit$39,433 $43,160 $8,116 $90,709 
Three Months Ended March 31,
2023
(in $000s)ERSTESAPSTotal
Revenue:
Rental$113,784 $— $4,504 $118,288 
Equipment sales92,136 209,154 — 301,290 
Parts and services— — 32,585 32,585 
Total revenue205,920 209,154 37,089 452,163 
Cost of revenue:
Rentals/parts and services29,060 — 26,987 56,047 
Equipment sales71,081 175,044 — 246,125 
Depreciation of rental equipment39,512 — 818 40,330 
Total cost of revenue139,653 175,044 27,805 342,502 
Gross profit$66,267 $34,110 $9,284 $109,661 
Total assets by operating segment are not disclosed herein because asset by operating segment data is not reviewed by the chief operating decision-maker (“CODM”) to assess performance and allocate resources.
Gross profit is the primary operating result whereby our segments are evaluated for performance and resource allocation. The following table presents a reconciliation of consolidated gross profit to consolidated income (loss) before income taxes:
Three Months Ended March 31,
(in $000s)20242023
Gross profit$90,709 $109,661 
Selling, general and administrative expenses57,995 56,991 
Amortization6,578 6,672 
Non-rental depreciation2,920 2,650 
Transaction expenses and other4,846 3,460 
Interest expense, net37,915 29,176 
Financing and other expense (income)(3,262)(3,951)
Income (loss) before income taxes$(16,283)$14,663 
The following table presents total assets by country:
(in $000s)March 31, 2024December 31, 2023
Assets:
United States$3,332,762 $3,243,619 
Canada117,753 124,178 
       Total Assets$3,450,515 $3,367,797