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Revenue | 3 Months Ended
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Mar. 31, 2025
Revenue from Contract with Customer [Abstract] |
Revenue | Note 2: Revenue Revenue Disaggregation Geographic Areas The Company had total revenue in the following geographic areas:
| Three Months Ended March 31, |  |
(in $000s) | 2025 |  | 2024 |  |  |  |  |  |
United States | $ | 413,552 |  |  | $ | 397,697 |  |  |  |  |  |  |
Canada | 8,680 |  |  | 13,610 |  |  |  |  |  |  |
Total Revenue | $ | 422,232 |  |  | $ | 411,307 |  |  |  |  |  |  |
Major Product Lines and Services Equipment leasing and equipment sales are the core businesses of the Company, with leasing complemented by the sale of rental units from the rental fleet. The Company’s revenue by major product and service line for the three months ended March 31, 2025 and 2024 are presented in the table below.
| Three Months Ended March 31, |  | Three Months Ended March 31, |  |  |  |  |  |
| 2025 |  | 2024 |  |  |  |  |  |
(in $000s) | Topic 842 |  | Topic 606 |  | Total |  | Topic 842 |  | Topic 606 |  | Total |  |  |  |  |  |
Rental: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rental | $ | 110,285 |  |  | $ | — |  |  | $ | 110,285 |  |  | $ | 101,510 |  |  | $ | — |  |  | $ | 101,510 |  |  |  |  |  |  |
Shipping and handling | — |  |  | 5,976 |  |  | 5,976 |  |  | — |  |  | 4,661 |  |  | 4,661 |  |  |  |  |  |  |
Total rental revenue | 110,285 |  |  | 5,976 |  |  | 116,261 |  |  | 101,510 |  |  | 4,661 |  |  | 106,171 |  |  |  |  |  |  |
Sales and services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equipment sales | 2,161 |  |  | 271,702 |  |  | 273,863 |  |  | 3,018 |  |  | 269,584 |  |  | 272,602 |  |  |  |  |  |  |
Parts and services | 2,673 |  |  | 29,435 |  |  | 32,108 |  |  | 3,244 |  |  | 29,290 |  |  | 32,534 |  |  |  |  |  |  |
Total sales and services | 4,834 |  |  | 301,137 |  |  | 305,971 |  |  | 6,262 |  |  | 298,874 |  |  | 305,136 |  |  |  |  |  |  |
Total revenue | $ | 115,119 |  |  | $ | 307,113 |  |  | $ | 422,232 |  |  | $ | 107,772 |  |  | $ | 303,535 |  |  | $ | 411,307 |  |  |  |  |  |  |
Rental revenue is primarily comprised of revenues from rental agreements and freight charges billed to customers. Equipment sales recognized pursuant to sales-type leases are recorded within equipment sales revenue. Charges to customers for damaged rental equipment are recorded within parts and services revenue. Receivables, Contract Assets and Liabilities As of March 31, 2025 and December 31, 2024, the Company had net receivables related to contracts with customers of $107.5 million and $119.9 million, respectively. As of March 31, 2025 and December 31, 2024, the Company had net receivables related to rental contracts and other of $94.8 million and $95.9 million, respectively. The Company manages credit risk associated with its accounts receivable at the customer level. Because the same customers generate the revenues that are accounted for under both Topic 606 and Topic 842, the discussions below address how credit risk and the Company's allowance for credit losses impact the Company's total revenues. The Company’s allowance for credit losses reflects its estimate of the amount of receivables that it will be unable to collect. The estimated losses are based upon a review of outstanding receivables, the related aging, including specific accounts if deemed necessary, and on the Company’s historical collection experience. The estimated losses are calculated using the loss rate method based upon a review of outstanding receivables, related aging, and historical collection experience. The Company's estimates reflect changing circumstances, including changes in the economy or in the particular circumstances of individual customers, and, as a result, the Company may be required to increase or decrease its allowance. Accounts receivable, net consisted of the following:
(in $000s) | March 31, 2025 |  | December 31, 2024
Accounts receivable | $ | 219,283 |  |  | $ | 233,688 |
Less: allowance for doubtful accounts | (17,053) |  |  | (17,815) |
Accounts receivable, net | $ | 202,230 |  |  | $ | 215,873 |
For the three months ended March 31, 2025 and 2024, the Company wrote-off $2.8 million and $2.0 million, respectively, of receivables, net of recoveries. When customers are billed for rentals in advance of the rental period, the Company defers recognition of revenue. As of March 31, 2025 and December 31, 2024, the Company had approximately $5.0 million and $4.8 million, respectively, of deferred rental revenue. Additionally, the Company collects deposits from customers for orders placed for equipment and rentals. The Company had approximately $16.0 million and $21.5 million in deposits as of March 31, 2025 and December 31, 2024, respectively. Of the $21.5 million deposit liability balance as of December 31, 2024, $18.2 million was recorded as revenue during the three months ended March 31, 2025 due to performance obligations being satisfied. The Company’s remaining performance obligations on its equipment deposit liabilities have original expected durations of one year or less. The Company does not have material contract assets, and as such, did not recognize any material impairments of any contract assets.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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