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Inventories | 6 Months Ended
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Jun. 30, 2025
Inventory Disclosure [Abstract] |
INVENTORIES | NOTE 5 — INVENTORIES Inventories, net, consisted of the following:
| June 30, |  |  | December 31, |
| 2025 |  |  | 2024 |
New equipment | $ | 335.8 |  |  | $ | 374.0 |
Used equipment |  | 47.4 |  |  |  | 62.0 |
Work in process |  | 8.8 |  |  |  | 7.5 |
Parts |  | 105.2 |  |  |  | 101.8 |
Gross inventory |  | 497.2 |  |  |  | 545.3 |
Inventory reserves |  | (12.7 | ) |  |  | (9.4 | )
Inventories, net | $ | 484.5 |  |  | $ | 535.9 |
Direct labor of $1.5 million and $0.6 million incurred for open service orders were capitalized and included in work in process as of June 30, 2025 and December 31, 2024, respectively. The remaining work in process balances as of June 30, 2025 and December 31, 2024 primarily represent parts applied to open service orders. Rental depreciation expense for new and used equipment inventory under short-term leases with purchase options was $3.4 million and $4.0 million for the three months ended June 30, 2025 and 2024, respectively, and $6.2 million and $7.1 million for the six months ended June 30, 2025 and 2024, respectively.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/330/tableOfContent + Details
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