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Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2011	Feb. 29, 2012	Jun. 30, 2011
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2011
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	FY
Entity Registrant Name	MCGRATH RENTCORP
Entity Central Index Key	0000752714
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		24,623,354
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Public Float			$ 636,120,080

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Assets
Cash	$ 1,229	$ 990
Accounts Receivable, net of allowance for doubtful accounts of $1,500 in 2011 and $1,700 in 2010	92,671	76,488
Income Taxes Receivable		6,131
Rental Equipment, at cost:
Relocatable Modular Buildings	539,147	514,548
Electronic Test Equipment	258,586	250,125
Liquid and Solid Containment Tanks and Boxes	201,456	133,095
Rental Equipment, gross	999,189	897,768
Less Accumulated Depreciation	(326,043)	(306,188)
Rental Equipment, net	673,146	591,580
Property, Plant and Equipment, net	94,702	83,861
Prepaid Expenses and Other Assets	17,170	13,944
Intangible Assets, net	12,311	12,868
Goodwill	27,700	27,700
Total Assets	918,929	813,562
Liabilities and Shareholders' Equity
Notes Payable	296,500	265,640
Accounts Payable and Accrued Liabilities	58,854	49,612
Deferred Income	25,067	23,790
Deferred Income Taxes, net	205,366	179,543
Total Liabilities	585,787	518,585
Commitments and Contingencies (Note 8)
Shareholders' Equity:
Common Stock, no par value - Authorized - 40,000 shares Issued and Outstanding - 24,576 shares in 2011 and 24,235 shares in 2010	74,878	63,623
Retained Earnings	258,264	231,354
Total Shareholders' Equity	333,142	294,977
Total Liabilities and Shareholders' Equity	$ 918,929	$ 813,562

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Consolidated Balance Sheets [Abstract]
Allowance for doubtful accounts	$ 1,500	$ 1,700
Common stock, par value
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	24,576,000	24,235,000
Common stock, shares outstanding	24,576,000	24,235,000

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Revenues
Rental	$ 234,906	$ 200,615	$ 186,442
Rental Related Services	39,486	34,702	33,352
Rental Operations	274,392	235,317	219,794
Sales	66,382	54,055	53,376
Other	1,896	2,028	2,663
Total Revenues	342,670	291,400	275,833
Costs and Expenses
Depreciation of Rental Equipment	60,187	56,399	57,215
Rental Related Services	30,692	26,542	25,271
Other	39,859	40,007	33,147
Total Direct Costs of Rental Operations	130,738	122,948	115,633
Cost of Sales	45,141	37,637	38,695
Total Costs of Revenues	175,879	160,585	154,328
Gross Profit	166,791	130,815	121,505
Selling and Administrative Expenses	78,127	65,579	60,426
Income from Operations	88,664	65,236	61,079
Interest Expense	7,606	6,186	7,105
Income before Provision for Income Taxes	81,058	59,050	53,974
Provision for Income Taxes	31,456	22,571	20,649
Net Income	$ 49,602	$ 36,479	$ 33,325
Earnings Per Share:
Basic	$ 2.04	$ 1.52	$ 1.40
Diluted	$ 2.00	$ 1.50	$ 1.40
Shares Used in Per Share Calculations:
Basic	24,349	23,944	23,745
Diluted	24,760	24,289	23,869
Cash Dividends Declared Per Share	$ 0.92	$ 0.90	$ 0.88

Consolidated Statements Of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2008	$ 45,754	$ 204,127	$ 249,881
Balance, shares at Dec. 31, 2008	23,709
Net Income		33,325	33,325
Non-Cash Stock-Based Compensation	$ 3,598		3,598
Non-Cash Stock-Based Compensation, shares
Common Stock Issued under Stock Plans, net of Shares Withheld for Employee Taxes	$ 1,098		1,098
Common Stock Issued under Stock Plans, net of Shares Withheld for Employee Taxes, shares	86
Excess Tax Benefit from Equity Awards	$ 419		419
Dividends Declared		(20,908)	(20,908)
Balance at Dec. 31, 2009	$ 50,869	216,544	267,413
Balance, shares at Dec. 31, 2009	23,795
Net Income		36,479	36,479
Non-Cash Stock-Based Compensation	$ 4,227		4,227
Non-Cash Stock-Based Compensation, shares
Common Stock Issued under Stock Plans, net of Shares Withheld for Employee Taxes	$ 7,506		7,506
Common Stock Issued under Stock Plans, net of Shares Withheld for Employee Taxes, shares	440
Excess Tax Benefit from Equity Awards	$ 1,021		1,021
Dividends Declared		(21,669)	(21,669)
Balance at Dec. 31, 2010	$ 63,623	231,354	$ 294,977
Balance, shares at Dec. 31, 2010	24,235		24,235
Net Income		49,602	$ 49,602
Non-Cash Stock-Based Compensation	$ 5,221		5,221
Non-Cash Stock-Based Compensation, shares
Common Stock Issued under Stock Plans, net of Shares Withheld for Employee Taxes	$ 5,054		5,054
Common Stock Issued under Stock Plans, net of Shares Withheld for Employee Taxes, shares	341
Excess Tax Benefit from Equity Awards	$ 980		980
Dividends Declared		(22,692)	(22,692)
Balance at Dec. 31, 2011	$ 74,878	$ 258,264	$ 333,142
Balance, shares at Dec. 31, 2011	24,576		24,576

- Definition

This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

- Definition

Number of shares issued during the period as a result of an employee stock purchase plan.

+ References + Details

- Definition

Number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.

+ References + Details

Consolidated Statements Of Shareholders' Equity (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Consolidated Statements Of Shareholders' Equity [Abstract]
Dividends Declared	$ 0.92	$ 0.90	$ 0.88

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Cash Flows from Operating Activities:
Net Income	$ 49,602	$ 36,479	$ 33,325
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation and Amortization	67,395	62,577	63,130
Provision for Doubtful Accounts	1,755	1,494	1,389
Non-Cash Stock-Based Compensation	5,221	4,227	3,598
Gain on Sale of Used Rental Equipment	(12,444)	(11,728)	(10,892)
Change In:
Accounts Receivable	(17,938)	(7,385)	14,121
Income Taxes Receivable	6,131	120	1,676
Prepaid Expenses and Other Assets	(3,226)	296	4,079
Accounts Payable and Accrued Liabilities	5,715	3,399	(6,595)
Deferred Income	1,277	(954)	(3,311)
Deferred Income Taxes	25,823	12,073	21,880
Net Cash Provided by Operating Activities	129,311	100,598	122,400
Cash Flows from Investing Activities:
Payments Related to Acquisition of Adler Tanks		(39)	(2,100)
Purchase of Rental Equipment	(154,963)	(122,749)	(70,479)
Purchase of Property, Plant and Equipment	(17,204)	(12,144)	(2,151)
Proceeds from Sale of Used Rental Equipment	28,453	28,694	29,255
Net Cash Used in Investing Activities	(143,714)	(106,238)	(45,475)
Cash Flows from Financing Activities:
Net Borrowings (Payments) Under Bank Lines of Credit	(57,140)	30,306	(46,166)
Borrowings Under Private Placement	100,000
Principal Payments on Senior Notes	(12,000)	(12,000)	(12,000)
Proceeds from the Exercise of Stock Options	5,054	7,506	1,098
Excess Tax Benefit from Equity Awards	980	1,021	419
Payment of Dividends	(22,252)	(21,390)	(20,414)
Net Cash Provided by (Used in) Financing Activities	14,642	5,443	(77,063)
Net Increase (Decrease) in Cash	239	(197)	(138)
Cash Balance, beginning of period	990	1,187	1,325
Cash Balance, end of period	1,229	990	1,187
Interest Paid, during the period	6,877	6,306	7,412
Income Taxes Paid (Refunds Received), net during the period	(1,480)	9,342	(3,321)
Dividends Accrued	5,952	5,513	5,235
Rental Equipment Acquisitions, not yet paid	$ 8,186	$ 5,388	$ 10,429

Organization And Business

12 Months Ended

Dec. 31, 2011

Organization And Business [Abstract]

Organization And Business

NOTE 1.

ORGANIZATION AND BUSINESS

McGrath RentCorp (the "Company") is a California corporation organized in 1979. The Company is a diversified business to business rental company with three rental products; relocatable modular buildings, electronic test equipment and liquid and solid containment tanks and boxes. Although the Company's primary emphasis is on equipment rentals, sales of equipment occur in the normal course of business. The Company is comprised of four business segments: its modular building division ("Mobile Modular"), its electronic test equipment division ("TRS-RenTelco"), its containment solutions for the storage of hazardous and non-hazardous liquids and solids division ("Adler Tanks") and its classroom manufacturing division selling modular classrooms in California ("Enviroplex").

Significant risks of rental equipment ownership are borne by the Company, which include, but are not limited to, uncertainties in the market for its products over the equipment's useful life, use limitations for modular equipment related to updated building codes or legislative changes, technological obsolescence of electronic test equipment, changes in Federal and State laws regulating liquid and solid containment storage, environmental litigation and rental equipment deterioration. The Company believes it mitigates these risks by continuing advocacy and collaboration with governing agencies and legislative bodies for continuing use of its modular products, staying abreast of technology trends in order to make good buy-sell decisions of electronic test equipment, and ongoing investment in repair and maintenance programs to ensure all types of rental equipment are maintained in good operating condition.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 2-6
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-Number 94-6
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+ Details

Significant Accounting Policies

12 Months Ended

Dec. 31, 2011

Significant Accounting Policies [Abstract]

Significant Accounting Policies

NOTE 2.

SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

The consolidated financial statements include the accounts of McGrath RentCorp and its 100% owned subsidiaries: Mobile Modular Management Corporation, Enviroplex Inc, TRS-RenTelco Inc. and Adler Tank Rentals, LLC. All intercompany accounts and transactions have been eliminated in consolidation.

Revenue Recognition

Rental revenue from operating leases is recognized on a straight-line basis over the term of the lease. Rental billings for periods extending beyond period end are recorded as deferred income and are recognized as earned. Rental related services revenue is primarily associated with relocatable modular building leases and consists of billings to customers for modifications, delivery, installation, building, additional site-related work, and dismantle and return delivery. Revenue from these services is an integral part of the negotiated lease agreement with customers and is recognized on a straight-line basis over the term of the lease. Revenues associated with liquid and solid containment solutions consists of billings for delivery, removal and cleaning of the tanks and boxes. These revenues are recognized in the period performed.

Sales revenue is recognized upon delivery and installation of the equipment to customers. Certain leases are accounted for as sales-type leases. For these leases, sales revenue and the related accounts receivable are recognized upon delivery and installation of the equipment and the unearned interest is recognized over the lease term on a basis which results in a constant rate of return on the unrecovered lease investment.

Other revenue is recognized when earned and primarily includes interest income on sales-type leases, rental income on facility rentals and certain logistics services.

Sales taxes charged to customers are reported on a net basis and are excluded from revenues and expenses.

Depreciation of Rental Equipment

Rental equipment is depreciated on a straight-line basis for financial reporting purposes and on an accelerated basis for income tax purposes. The costs of major refurbishment of relocatable modular buildings and portable storage containers are capitalized to the extent the refurbishment significantly adds value to, or extends the life of the equipment. Maintenance and repairs are expensed as incurred.

The estimated useful lives and residual values of the Company's rental equipment used for financial reporting purposes are as follows:


Relocatable modular buildings		18 years, 50% residual value
Relocatable modular accessories		3 to 18 years, no residual value
Portable storage containers		25 years, 62.5% residual value
Electronic test equipment and accessories		1 to 8 years, no residual value
Liquid and solid containment tanks and boxes and accessories		10 to 20 years, no residual value

Costs of Rental Related Services

Costs of rental related services are primarily associated with relocatable modular building leases and consist of costs for services to be provided under the negotiated lease agreement for delivery, installation, modifications, skirting, additional site-related work, and dismantle and return delivery. Costs related to these services are recognized on a straight-line basis over the term of the lease. Costs of rental related services associated with liquid and solid containment solutions consists of costs of delivery, removal and cleaning of the tanks and boxes. These costs are recognized in the period the service is performed.

Impairment of Long-Lived Assets

The Company evaluates the carrying value of rental equipment and identifiable definite lived intangible assets for impairment whenever events or circumstances have occurred that would indicate the carrying amount may not be fully recoverable. A key element in determining the recoverability of long-lived assets is the Company's outlook as to the future market conditions for its rental equipment. If the carrying amount is not fully recoverable, an impairment loss is recognized to reduce the carrying amount to fair value. The Company determines fair value based upon the condition of the rental equipment and the projected net cash flows from its rental and sale considering current market conditions. Goodwill and identifiable indefinite lived assets are evaluated for potential impairment annually or when circumstances indicate potential impairment. Impairment losses, if any, are determined based upon the estimated fair value of the asset. There were no impairments of long-lived assets during the years ended December 31, 2011, 2010 and 2009.

Other Direct Costs of Rental Operations

Other direct costs of rental operations include direct labor, supplies, repairs, insurance, property taxes, license fees and certain modular lease costs charged to customers in the negotiated rental rate, which are recognized on a straight-line basis over the term of the lease.

Cost of Sales

Cost of sales in the Consolidated Statements of Income includes the carrying value of the equipment sold and all direct costs associated with the sale.

Warranty Reserves

Sales of new relocatable modular buildings, portable storage containers, electronic test equipment and related accessories and liquid and solid containment tanks and boxes not manufactured by the Company are typically covered by warranties provided by the manufacturer of the products sold. The Company typically provides limited 90-day warranties for certain sales of used rental equipment and one-year warranties on equipment manufactured by Enviroplex. Although the Company's policy is to provide reserves for warranties when required for specific circumstances, the Company has not found it necessary to establish such reserves to date as warranty costs have not been significant.

Property, Plant and Equipment

Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation is recognized on a straight-line basis for financial reporting purposes, and on an accelerated basis for income tax purposes. Depreciation expense is included in "Selling and Administrative Expenses" in the Consolidated Statements of Income. Maintenance and repairs are expensed as incurred.

Property, plant and equipment consist of the following:


(dollar amounts in thousands)	Estimated Useful Life In Years		December 31,
(dollar amounts in thousands)	Estimated Useful Life In Years		2011			2010
Land		Indefinite	$	30,466		$	28,151
Land Improvements		20 – 50		38,470			31,821
Buildings		30		18,853			17,508
Furniture, Office and Computer Equipment		3 – 10		24,942			17,347
Machinery and Service Equipment		5 – 20		13,000			8,686

				125,731			103,513
Less Accumulated Depreciation				(31,712	)		(26,051	)

				94,019			77,462
Construction In Progress				683			6,399

				$94,702			$83,861

Construction in progress at December 31, 2011 consisted primarily of costs related to information technology projects. Construction in progress at December 31, 2010 consisted primarily of $3.7 million related to information technology projects and $2.4 million related to the expansion of the inventory center in Livermore, California.

Advertising Costs

Advertising costs are expensed as incurred. Total advertising expenses were $2.1 million, $1.7 million and $1.7 million for the years ended December 31, 2011, 2010 and 2009.

Income Taxes

Income taxes are accounted for using an asset and liability approach. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities at the tax rates in effect when these differences are expected to reverse.

Goodwill and Intangible Assets

Purchase prices of acquired businesses have been allocated to the assets and liabilities acquired based on the estimated fair values on the respective acquisition dates. Based on these values, the excess purchase prices over the fair value of the net assets acquired were allocated to goodwill and other intangible assets. Goodwill and intangible assets consists primarily of intangible assets of $39.9 million from the 2008 acquisition of Adler Tanks. Intangible assets related to customer relationships are amortized over eleven years. At December 31, 2011 and 2010, goodwill and trade name intangible assets which have indefinite lives totaled $33.4 million.

The Company assesses potential impairment of its goodwill and intangible assets when there is evidence that events or circumstances have occurred that would indicate the recovery of an asset's carrying value is unlikely. The Company also assesses potential impairment of its goodwill and intangible assets on an annual basis regardless of whether there is evidence of impairment. If indicators of impairment were to be present in intangible assets used in operations and future discounted cash flows were not expected to be sufficient to recover the assets' carrying amount, an impairment loss would be charged to expense in the period identified. The amount of an impairment loss would be recognized as the excess of the asset's carrying value over its fair value. Factors the Company considers important, which may cause impairment include, among others, significant changes in the manner of use of the acquired asset, negative industry or economic trends, and significant underperformance relative to historical or projected operating results.

The impairment review is performed by first assessing qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. In the first step, the fair value of the reporting unit is compared to its carrying value to determine if the goodwill and intangible assets are impaired. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that unit, then goodwill and intangible assets are not impaired and no further testing is required. If the carrying value of the net assets assigned to the reporting unit were to exceed its fair value, then the second step is performed in order to determine the implied fair value of the reporting unit's goodwill and intangible assets and an impairment loss is recorded for an amount equal to the difference between the implied fair value and the carrying value of the goodwill and intangible assets.

The Company conducted its annual impairment analysis in the fourth quarter of its fiscal year. The impairment analysis did not result in an impairment charge for the fiscal years ended 2011, 2010 or 2009. Determining the fair value of a reporting unit is judgmental and involves the use of significant estimates and assumptions. The Company based its fair value estimates on assumptions that it believes are reasonable but are uncertain and subject to changes in market conditions.

Earnings Per Share

Basic earnings per share ("EPS") is computed as net income divided by the weighted average number of shares of common stock outstanding for the period. Diluted EPS is computed as net income divided by the weighted average number of shares outstanding of common stock and common stock equivalents for the period including the dilutive effects of stock options and other potentially dilutive securities. Common stock equivalents result from the number of dilutive options computed using the treasury stock method and the average share price for the reported period. The table below presents the weighted-average common stock used to calculate basic and diluted earnings per share:


(in thousands)	Year Ended December 31,
	2011		2010		2009
Weighted-average common stock for calculating basic earnings per share		24,349		23,944		23,745
Effect of potentially dilutive securities from equity-based compensation		411		345		124

Weighted-average common stock for calculating diluted earnings per share		24,760		24,289		23,869

The following securities were not included in the computation of diluted earnings per share as their effect would have been anti-dilutive:


(in thousands)	Year Ended December 31,
	2011		2010		2009
Options to purchase common stock		1,131		1,066		2,436

Accounts Receivable and Concentration of Credit Risk

The Company's accounts receivable consist of amounts due from customers for rentals, sales, financed sales and unbilled amounts for the portion of Mobile Modular end-of-lease services earned, which were negotiated as part of the lease agreement. Unbilled receivables related to end-of-lease services, which consists of dismantle and return of buildings, were $17.2 million at December 31, 2011 and $17.0 million at December 31, 2010. The Company sells primarily on 30-day terms, individually performs credit evaluation procedures on its customers on each transaction and will require security deposits from its customers when a significant credit risk is identified. The Company records an allowance for doubtful accounts in amounts equal to the estimated losses expected to be incurred in the collection of the accounts receivable. The estimated losses are based on historical collection experience in conjunction with an evaluation of the current status of the existing accounts. Customer accounts are written off against the allowance for doubtful accounts when an account is determined to be uncollectable. The allowance for doubtful accounts activity was as follows:


(in thousands)	2011			2010
Beginning Balance, January 1	$	1,700		$	1,700
Provision for doubtful accounts		1,755			1,494
Write-offs, net of recoveries		(1,955	)		(1,494	)

Ending Balance, December 31	$	1,500		$	1,700

Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of trade accounts receivable. From time to time, the Company maintains cash balances in excess of the Federal Deposits Insurance limits.

Fair Value of Financial Instruments

The Company believes that the carrying amounts for cash, accounts receivable, accounts payable and notes payable approximate their fair values except for fixed rate debt included in notes payable which has an estimated fair value of $107.0 million and $12.2 million compared to the recorded value of $100.0 million and $12.0 million as of December 31, 2011 and 2010, respectively. The estimates of fair value of the Company's fixed rate debt are based on the borrowing rates currently available to the Company for bank loans with similar terms and average maturities.

Foreign Currency Transactions

The Company's Canadian subsidiary, TRS-RenTelco Inc., a British Columbia corporation, functions as a branch sales office for TRS-RenTelco in Canada. Foreign currency transaction gains and losses of the Company's Canadian subsidiary are reported in the results of operations in the period in which they occur. Currently, the Company does not use derivative instruments to hedge its economic exposure with respect to assets, liabilities and firm commitments as the foreign currency transactions and risks to date have not been significant.

Stock-Based Compensation

The Company measures stock-based compensation expense based on grant date fair value and recognizes that expense in earnings over the service period of each award. The Company utilizes the Black-Scholes option-pricing model to estimate the fair value of employee stock-based compensation at the date of grant, which requires the use of accounting judgment and financial estimates, including estimates of the expected term option holders will retain their vested stock options before exercising them, the estimated volatility of the Company's stock price over the expected term and the expected number of options that will be forfeited prior to the completion of their vesting requirements. Application of alternative assumptions could produce significantly different estimates of the fair value of stock-based compensation amounts recognized in the Consolidated Statements of Income.

For the years ended December 31, 2011, 2010 and 2009, the non-cash stock-based compensation expense included in Selling and Administrative Expenses in the Consolidated Statements of Income was $5.2 million, $4.2 million and $3.6 million, before provision for income taxes, respectively. The Company recorded a tax benefit of approximately $2.0 million, $1.6 million and $1.4 million related to the aforementioned stock-based compensation expenses. For the years ended December 31, 2011, 2010 and 2009, the stock-based compensation expenses, net of taxes, reduced net income by $3.2 million, $2.6 million and $2.2 million, respectively or $0.13, $0.11, and $0.09 per diluted share for each period, respectively.

The fair value of each option granted was estimated on the date of grant using the Black-Scholes option-pricing model using the following weighted average assumptions:


	Year Ended December 31,
	2011			2010			2009
Expected term (in years)		5.0			5.2			5.0
Expected volatility		51.6	%		51.2	%		45.2	%
Expected dividend yields		3.4	%		3.8	%		5.6	%
Risk-free interest rates		2.0	%		2.2	%		2.0	%

The Company monitors option exercise behavior to determine the appropriate homogenous groups for estimation purposes. Currently, the Company's option activity is separated into two categories: directors and employees. The expected term of the options represents the estimated period of time until exercised and is based on historical experience, giving consideration to the option terms, vesting schedules and expectations of future employee behavior. Expected stock volatility is based on historical stock price volatility of the Company and the risk-free interest rates are based on U.S. Treasury yields in effect on the date of the option grant for the estimated period the options will be outstanding. The expected dividend yield is based upon the current dividend annualized as a percentage of the grant exercise price.

The weighted average grant date fair value per share was $9.68, $8.12 and $3.91 during the years ended 2011, 2010 and 2009, respectively.

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions in determining reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during each period presented. Actual results could differ from those estimates. The most significant estimates included in the financial statements are the future cash flows and fair values used to determine the recoverability of the rental equipment and identifiable definite lived intangible assets carrying value, the various assets' useful lives and residual values, and the allowance for doubtful accounts.

Reclassifications

In order to conform to current year presentation, certain amounts were reclassified from Selling and Administrative expenses to Other Revenues. This reclassification had no impact on net income, earnings per share or operating cash flows.

Financed Lease Receivables

12 Months Ended

Dec. 31, 2011

Financed Lease Receivables [Abstract]

Financed Lease Receivables

NOTE 3.

FINANCED LEASE RECEIVABLES

The Company has entered into sales type leases to finance certain equipment sales to customers. The lease agreements have a bargain purchase option at the end of the lease term. The minimum lease payments receivable and the net investment included in accounts receivable for such leases are as follows:


(in thousands)	December 31,
	2011			2010
Gross minimum lease payments receivable	$	2,612		$	2,850
Less – unearned interest		(226	)		(261	)

Net investment in sales type lease receivables	$	2,386		$	2,589

As of December 31, 2011, the future minimum lease payments under non-cancelable sales-type leases to be received in 2012 and thereafter are as follows:


(in thousands)
Year Ended December 31,
2012	$	2,427
2013		170
2014		15
2015 and thereafter		—

Total minimum future lease payments		$2,612

- Definition

The entire disclosure for lessor entity's leasing arrangements for operating, capital and leveraged leases.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 13
-Paragraph 23
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37045-112695

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Section 50
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41460-112716

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6454179&loc=d3e41551-112718

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41457-112716

+ Details

Notes Payable

12 Months Ended

Dec. 31, 2011

Notes Payable [Abstract]

Notes Payable

NOTE 4.

NOTES PAYABLE

Notes Payable consists of the following:


(in thousands)	December 31,
	2011		2010
Unsecured Revolving Lines of Credit	$	196,500	$	253,640
4.03% Senior Notes due in 2018		100,000		—
5.08% Senior Notes due in 2011		—		12,000

	$	296,500	$	265,640

Unsecured Revolving Lines of Credit

In May 2008, the Company entered into a credit facility with a syndicate of banks (the "Credit Facility). The Credit Facility provides for a $350.0 million unsecured revolving credit facility and requires the Company to pay interest determined by reference to the Consolidated Leverage ratio (as defined). In addition, the Company pays a commitment fee on the daily unused portion of the available facility. The Credit Facility matures on May 14, 2013.

In June, 2008, the Company entered into a Credit Facility Letter Agreement with Union Bank, N.A. and a Credit Line Note in favor of Union Bank, N.A., extending its $5.0 million line of credit facility related to its cash management services ("Sweep Service Facility"). The Sweep Service Facility matures on the earlier of May 14, 2013, or the date the Company ceases to utilize Union Bank, N.A. for its cash management services.

At December 31, 2011, under the Credit Facility and the Sweep Service Facility, the Company had unsecured lines of credit that permit it to borrow up to $355.0 million of which $196.5 million was outstanding, leaving capacity to borrow up to an additional $158.5 million. The Credit Facility contains financial covenants requiring the Company to not:

•

Permit the Consolidated Fixed Charge Coverage Ratio (as defined) as of the end of any fiscal quarter to be less than 2.00 to 1. At December 31, 2011 the actual ratio was 5.45 to 1.

•

Permit the Consolidated Asset Coverage Ratio (as defined) as of the end of any fiscal quarter to be less than 1.50 to 1. At December 31, 2011 the actual ratio was 2.92 to 1.

•

Permit the Consolidated Leverage Ratio (as defined) at any time during any period of four consecutive quarters to be greater than 2.50 to1. At December 31, 2011 the actual ratio was 1.84 to 1.

The following information relates to the lines of credit for each of the following periods:


(dollar amounts in thousands)	Year Ended December 31,
	2011			2010
Maximum amount outstanding	$	262,461		$	269,267
Average amount outstanding	$	206,227		$	243,542
Weighted average interest rate, during the period		2.22	%		2.15	%
Weighted average interest rate, end of period		1.79	%		1.78	%
Prime interest rate, end of period		3.25	%		3.25	%

4.03% Senior Notes Due in 2018

On April 21, 2011, the Company entered into a Note Purchase and Private Shelf Agreement (the "Note Purchase Agreement") with Prudential Investment Management, Inc., The Prudential Insurance Company of America and Prudential Retirement Insurance and Annuity Company (collectively, the "Purchaser"), pursuant to which the Company agreed to sell an aggregate principal amount of $100 million of its 4.03% Series A Senior Notes (the "Senior Notes") to the Purchaser. The Senior Notes are an unsecured obligation of the Company, due on April 21, 2018. Interest on these notes is due semi-annually in arrears and the principal is due in five equal annual installments, with the first payment due on April 21, 2014. In addition, the Note Purchase Agreement allows for the issuance and sale of additional senior notes to the Purchaser (the "Shelf Notes") in the aggregate principal amount of $100 million, to mature no more than 12 years after the date of original issuance thereof, to have an average life of no more than 10 years and to bear interest on the unpaid balance. Among other restrictions, the Note Purchase Agreement, under which the Senior Notes were sold, contains financial covenants requiring the Company to not:

•

Permit the Consolidated Fixed Charge Coverage Ratio of EBITDA (as defined in the Note Purchase Agreement) to fixed charges as of the end of any fiscal quarter to be less than 2.50 to 1. At December 31, 2011, the actual ratio was 4.35 to 1.

•

Permit the Consolidated Leverage Ratio of funded debt to EBITDA (as defined in the Note Purchase Agreement) at any time during any period of four consecutive quarters to be greater than 2.50 to 1. At December 31, 2011, the actual ratio was 1.84 to 1.

•

Permit tangible net worth, calculated as of the last day of each fiscal quarter, to be less than the sum of (i) $229.0 million, plus (ii) 25% of net income for such fiscal quarter subsequent to December 31, 2010, plus (iii) 90% of the net cash proceeds from the issuance of the Company's capital stock after December 31, 2010. At December 31, 2011, such sum was $246.1 million and the actual tangible net worth of the Company was $331.1 million.

At December 31, 2011, the Company was in compliance with each of the aforementioned covenants. There are no anticipated trends that the Company is aware of that would indicate non-compliance with these covenants, though, significant deterioration in the Company's financial performance could impact its ability to comply with these covenants.

5.08% Senior Notes Due in 2011

In June 2004, the Company completed a private placement of $60.0 million of 5.08% senior notes due in 2011. The final principal payment of $12.0 million was made in June 2011. There was no outstanding balance as of December 31, 2011.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Income Taxes

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

Income Taxes

NOTE 5.

INCOME TAXES

The provision for income taxes consists of the following:


(in thousands)	Year Ended December 31,
	2011		2010		2009
Current	$	5,741	$	8,754	$	(1,231	)
Deferred		25,715		13,817		21,880

	$	31,456	$	22,571	$	20,649

The reconciliation of the federal statutory tax rate to the Company's effective tax rate is as follows:


	Year Ended December 31,
	2011			2010			2009
Federal statutory rate		35.0	%		35.0	%		35.0	%
State taxes, net of federal benefit		4.1			4.2			3.6
Other		(0.3	)		(1.0	)		(0.3	)

		38.8	%		38.2	%		38.3	%

The following table shows the deferred income taxes related to the temporary differences between the tax bases of assets and liabilities and the respective amounts included in "Deferred Income Taxes, net" on the Company's Consolidated Balance Sheets:


(in thousands)	December 31,
	2011		2010
Deferred Tax Liabilities:
Accelerated Depreciation	$	238,912	$	195,804
Prepaid Costs Currently Deductible		4,178		4,253
Deferred Revenues		—		830
Other		2,414		—

Total Deferred Tax Liabilities		245,504		200,887

Deferred Tax Assets:
Accrued Costs Not Yet Deductible		6,017		5,359
Allowance for Doubtful Accounts		582		661
Net Operating Loss Carry Forwards and Credits		25,495		8,248
Deferred Revenues		243		—
Stock Based Compensation		7,801		6,301
Other		—		775

Total Deferred Tax Assets		40,138		21,344

Deferred Income Taxes, net	$	205,366	$	179,543

In 2011, 2010 and 2009 the Company obtained an excess tax benefit of $1.0 million, $1.0 million and $0.4 million respectively, from the exercise of non-qualified stock options and early dispositions of stock obtained through the exercise of incentive stock options by employees. The tax benefit was recorded as common stock in conjunction with the proceeds received from the exercise of the stock options.

As of December 31, 2011, the Company's federal net operating losses for tax return purposes were $59.9 million. If not utilized, these carry forwards will begin to expire in 2030. As of December 31, 2011, the Company had state and foreign tax credit carry forwards of $4.6 million, which will begin to expire in 2010, if not utilized.

The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company evaluated all of its tax positions for which the statute of limitations remained open and determined there were no material unrecognized tax benefits as of December 31, 2011 and 2010. In addition, there have been no material changes in unrecognized benefits during 2011, 2010 and 2009.

The Company is subject to income taxes in the U.S. federal jurisdiction, and various states and foreign jurisdictions. Tax regulations within each jurisdiction are subject to interpretation of the related tax laws and regulations and require the application of significant judgment. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for the years before 2007.

Our income tax returns are subject to examination by federal, state and foreign tax authorities. We are currently under examination by the California Franchise Tax Board for the 2007 and 2008 tax years. There may be differing interpretations of tax laws and regulations, and as a result, disputes may arise with these tax authorities involving the timing and amount of deductions and allocation of income.

The Company recognizes interest and penalties related to unrecognized tax benefits in the provision for income taxes for all periods presented. Such interest and penalties were not significant for the years ended December 31, 2011, 2010 and 2009.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 740
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Topic 740
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-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

+ Details

Benefit Plans

12 Months Ended

Dec. 31, 2011

Benefit Plans [Abstract]

Benefit Plans

NOTE 6.

BENEFIT PLANS

Stock Plans

The Company adopted the 2007 Stock Incentive Plan (the "2007 Plan") effective June 6, 2007, under which 1,875,000 shares of common stock of the Company, plus the number of shares that remained available for grants of awards under the Company's 1998 Stock Option Plan (the "1998 Plan") and those shares that become available as a result of forfeiture, termination, or expiration of awards previously granted under the 1998 Plan, were reserved for the grant of awards to its employees, directors and consultants to acquire common stock of the Company. The 2007 Plan provides for the grant of awards in the form of stock options, stock appreciation rights, restricted stock, restricted stock units or other rights and benefits. Options under the 2007 Plan are granted at an exercise price of not less than 100% of the fair market value of the Company's common stock on the date of grant. The 2007 Plan replaced the Company's 1998 Plan and the 2000 Long-Term Bonus Plan.

Stock Options

As of December 31, 2011, a cumulative total of 6,296,100 shares subject to options have been granted with exercise prices ranging from $11.26 to $34.28. Of these, options have been exercised for the purchase of 2,406,347 shares, while options for 803,734 shares have been terminated, and options for 3,086,019 shares remain outstanding under the stock plans. Most of these options vest over five years and expire seven and ten years after grant. To date, no options have been issued to any of McGrath RentCorp's non-employee advisors. As of December 31, 2011, 547,834 shares remain available for issuance of awards under the stock plans.

Option activity and options exercisable including the weighted average exercise price for the three years ended December 31, 2011 are as follows:


	Year Ended December 31,
	2011					2010					2009
	Shares			Weighted Average Exercise Price		Shares			Weighted Average Exercise Price		Shares			Weighted Average Exercise Price
Options outstanding at January 1,		3,344,450		$	22.80		3,504,319		$	22.09		2,985,942		$	23.35
Options granted during the year		160,600			27.41		282,000			23.72		680,000			15.62
Options exercised during the year		(309,447	)		17.19		(422,069	)		17.78		(86,823	)		12.64
Options terminated during the year		(109,584	)		25.01		(19,800	)		22.03		(74,800	)		23.29

Options outstanding at December 31,		3,086,019			23.52		3,344,450			22.80		3,504,319			22.09

Options exercisable at December 31,		2,306,159			24.43		2,148,100			23.91		2,011,869			23.30

The intrinsic value of stock options at any point in time is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company's common stock. The aggregate intrinsic value of options outstanding as of December 31, 2011 and 2010 was $16.9 million and $11.4 million, respectively, and had a weighted average remaining contract life of 3.52 years and 4.33 years, respectively. The intrinsic value for options exercisable as of December 31, 2011 and 2010 was $10.5 million and $5.0 million, respectively, and had a weighted average remaining contract life of 3.22 years and 4.10 years, respectively. The aggregate intrinsic value of options exercised and sold under the Company's stock option plans was $3.7 million, $3.6 million and $0.6 million for the years ended December 31, 2011, 2010 and 2009, respectively, determined as of the date of option exercise. As of December 31, 2011, there was approximately $4.6 million of total unrecognized compensation cost related to unvested share-based compensation option arrangements granted under the Company's stock plans, which is expected to be recognized over a weighted-average period of 1.30 years.

The following table indicates the options outstanding and options exercisable by exercise price with the weighted average remaining contractual life for the options outstanding and the weighted average exercise price at December 31, 2011:


	Options Outstanding						Options Exercisable
Exercise Price	Number Outstanding at December 31, 2011		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number Exercisable at December 31, 2011		Weighted Average Exercise Price
$10–15		95,000		1.31	$	12.26		91,250	$	12.28
15–20		525,850		3.79		15.62		240,850		15.62
20–25		1,304,169		3.55		21.71		951,519		21.57
25–30		677,000		4.43		29.10		568,340		29.75
30–35		484,000		2.21		31.38		454,200		31.35

10–35		3,086,019		3.51		23.52		2,306,159		24.43

Restricted Stock Units

The following table summarizes the activity of the Company's restricted stock units for the years ended December 31, 2011 and 2010:


	Year Ended December 31,
	2011					2010
	Number of Shares			Weighted Average Grant Date Fair Value		Number of Shares			Weighted Average Grant Date Fair Value
Restricted stock unvested as of January 1,		110,200		$	23.61		23,200		$	15.62
Restricted stock granted during the year		125,800			27.99		106,200			23.91
Restricted stock vested during the year		(30,755	)		23.91		(17,850	)		15.62
Restricted stock forfeited during the year		(17,435	)		25.36		(1,350	)		15.62

Restricted stock unvested as of December 31,		187,810			26.33		110,200			23.61

Stock-based compensation expense for restricted stock for the year ended December 31, 2011 and 2010 was $2.6 million and $1.2 million, respectively. As of December 31, 2011, the total unrecognized compensation expense net of forfeitures related to unvested restricted stock awards not yet recognized was $3.9 million and is expected to be recognized over a period of 4.1 years.

Employee Stock Ownership Plan

In 1985, the Company established a non-leveraged Employee Stock Ownership Plan ("Plan"). Under the terms of the Plan, as amended, the Company makes annual contributions in the form of cash or common stock of McGrath RentCorp to a trust for the benefit of eligible employees. Employees of the Company are generally eligible to participate in the Plan on the January 1^st, or July 1^st, immediately following the completion of the minimum of 1,000 hours and twelve months of service. The amount of the contribution is determined annually by the Board of Directors. There was no contribution approved in 2011, 2010 or 2009. Contributions to the Plan are allocated to participants following a formula based upon years of service and covered compensation. Dividends paid to Plan participants are treated as ordinary dividends and, in accordance with existing tax laws, are deducted by the Company in the year paid. For the years ended December 31, 2011, 2010 and 2009, dividends deducted by the Company were $0.4 million, $0.5 million and $0.5 million, respectively, which resulted in a tax benefit of approximately $0.2 million each year. Plan shares outstanding at December 31, 2011 were 448,742, or 2% of total common shares outstanding, and are included in basic and diluted earnings per share calculations.

401(k) Plans

In 1995, McGrath RentCorp established a contributory retirement plan, the McGrath RentCorp 401(k) Plan, as amended, covering eligible employees of McGrath RentCorp with at least three months of service. The McGrath RentCorp 401(k) Plan provides that each participant may annually contribute an elected percentage of his or her salary, not to exceed the statutory limit. McGrath RentCorp, at its discretion, may make contributions. Contributions are expensed in the year approved by the Board of Directors. There was $1.1 million expensed in 2011, zero in 2010 and $0.9 million in 2009.

In 1997, Enviroplex established a contributory retirement plan, the Enviroplex 401(k) Plan, as amended, covering eligible employees of Enviroplex with at least three months of service. The Enviroplex 401(k) Plan provides that each participant may annually contribute an elected percentage of his or her salary, not to exceed the statutory limit. Enviroplex at its discretion may make a matching contribution. Enviroplex made contributions of $35,000 and $43,000 in 2011 and 2009, respectively. There was no matching contribution in 2010.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

+ Details

Shareholders' Equity

12 Months Ended

Dec. 31, 2011

Shareholders' Equity [Abstract]

Shareholders' Equity

NOTE 7.

SHAREHOLDERS' EQUITY

The Company has in the past made purchases of shares of its common stock from time to time in the over-the-counter market (NASDAQ) and/or through privately negotiated, block transactions under an authorization of the Company's board of directors. Shares repurchased by the Company are cancelled and returned to the status of authorized but unissued stock. On May 14, 2008, the Company's Board of Directors authorized the Company to repurchase an aggregate of 2,000,000 shares of the Company's outstanding common stock. There were no repurchases of common stock in 2011 and 2010. As of December 31, 2011, 2,000,000 shares remain authorized for repurchase under this authorization.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph d

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 1
-Section B
-Paragraph 7, 11A
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 2, 3, 4, 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30, 31
-Article 5

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 20: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707

Reference 21: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 22: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 23: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770

+ Details

Commitments And Contingencies

12 Months Ended

Dec. 31, 2011

Commitments And Contingencies [Abstract]

Commitments And Contingencies

NOTE 8.

COMMITMENTS AND CONTINGENCIES

The Company leases certain facilities under various operating leases. Most of the lease agreements provide the Company with the option of renewing its lease at the end of the lease term, at the fair rental value. In most cases, management expects that in the normal course of business, facility leases will be renewed or replaced by other leases. Minimum payments under these leases, exclusive of property taxes and insurance, are as follows:


(in thousands)

Year Ended December 31,
2012	$	940
2013		714
2014		603
2015		603
2016		603
Thereafter		1,155

	$	4,618

Rent expense was $2.4 million, $2.3 million and $1.6 million in 2011, 2010 and 2009, respectively.

The Company is involved in various lawsuits and routine claims arising out of the normal course of its business. The Company maintains insurance coverage for its operations and employees with appropriate aggregate, per occurrence and deductible limits as the Company reasonably determines necessary or prudent with current operations and historical experience. The major policies include coverage for property, general liability, auto, directors and officers, health, and workers' compensation insurances. In the opinion of management, the ultimate amount of liability not covered by insurance, if any, under any pending litigation and claims, individually or in the aggregate, will not have a material adverse effect on the financial position or operating results of the Company.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

+ Details

Goodwill And Intangible Assets

12 Months Ended

Dec. 31, 2011

Goodwill And Intangible Assets [Abstract]

Goodwill And Intangible Assets

NOTE 9.

GOODWILL AND INTANGIBLE ASSETS

The following table shows the activity and balances related to goodwill from January 1, 2010:


(in thousands)
Goodwill at January 1, 2010	$	27,661
Acquisitions		—
Adjustments¹		39

Goodwill at December 31, 2010		27,700
Acquisitions		—
Adjustments		—

Goodwill at December 31, 2011	$	27,700
1 Represents working capital and acquisition costs adjustments associated with the Adler Tank acquisition.

Intangible assets consist of the following:


(dollar amounts in thousands)	Estimated Useful Life In Years		December 31,
	Estimated Useful Life In Years		2011			2010
Trade name		Indefinite	$	5,700		$	5,700
Customer Relationships		11		9,100			8,814

				14,800			14,514
Less Accumulated Amortization				(2,489	)		(1,646	)

			$	12,311		$	12,868

Intangible assets with finite useful lives are amortized over their respective useful lives. Based on the carrying values at December 31, 2011 and assuming no subsequent impairment of the underlying assets, the annual amortization is expected to be $0.8 million in 2012 through 2016 and thereafter.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Related Party Transactions

12 Months Ended

Dec. 31, 2011

Related Party Transactions

NOTE 10.

– RELATED PARTY TRANSACTIONS

The Company acquired liquid and solid containment tanks totaling $30.3 million and $16.8 million, during the years ended December 31, 2011 and 2010, respectively from Sabre Manufacturing, LLC, which is controlled by the President of Adler Tanks. In addition, the Company leased two operating facilities and received certain support services from companies controlled by the President of Adler Tanks. Payments for these leases and services totaled $0.2 million and $0.6 million in 2011 and 2010, respectively. Amounts due to aforementioned related parties at December 31, 2011 and 2010 were $3.0 million and $0.5 million, respectively.

In December 2010, the Company purchased real property located in Deer Park, Texas used as an operating facility for Adler Tanks, from a company controlled by the President of Adler Tanks. The purchase price was $2.7 million which was paid in cash. At December 31, 2011, the Company no longer leased operating facilities from companies controlled by the President of Adler Tanks.

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph k

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 3A
-Section 04
-Paragraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 57
-Paragraph 1-4
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+ Details

Segment Reporting

12 Months Ended

Dec. 31, 2011

Segment Reporting [Abstract]

Segment Reporting

NOTE 11.

SEGMENT REPORTING

FASB guidelines establish annual and interim reporting standards for an enterprise's operating segments and related disclosures about its products, services, geographic areas and major customers. In accordance with these guidelines the Company's four reportable segments are Mobile Modular, TRS-RenTelco, Adler Tanks and Enviroplex. Management focuses on several key measures to evaluate and assess each segment's performance including rental revenue growth, gross margin, and income before provision for income taxes. As separate corporate entities, Adler Tanks and Enviroplex revenues and expenses are separately maintained from Mobile Modular and TRS-RenTelco. Excluding interest expense, allocations of revenue and expense not directly associated with one of these segments are generally allocated to Mobile Modular, TRS-RenTelco and Adler Tanks, based on their pro-rata share of direct revenues. Interest expense is allocated amongst Mobile Modular, TRS-RenTelco and Adler Tanks based on their pro-rata share of average rental equipment at cost, goodwill, intangible assets, accounts receivable, deferred income and customer security deposits. The Company does not report total assets by business segment. Summarized financial information for the years ended December 31, 2011, 2010 and 2009, for the Company's reportable segments is shown in the following table:


Segment Data	Mobile Modular			TRS-RenTelco			Adler Tanks			Enviroplex¹			Consolidated
(dollar amounts in thousands)
Year Ended December 31,
2011
Rental Revenues	$	79,969		$	95,694		$	59,243		$	—		$	234,906
Rental Related Services Revenues		24,063			3,133			12,290			—			39,486
Sales and Other Revenues		20,577			26,488			425			20,788			68,278
Total Revenues		124,609			125,315			71,958			20,788			342,670
Depreciation of Rental Equipment		13,780			38,039			8,368			—			60,187
Gross Profit		55,193			57,069			49,619			4,910			166,791
Interest Expense (Income) Allocation		4,036			2,124			1,659			(213	)		7,606
Income before Provision for Income Taxes		19,026			29,024			31,262			1,746			81,058
Rental Equipment Acquisitions		33,824			55,302			68,628			—			157,754
Accounts Receivable, net (period end)		44,013			24,236			19,226			5,197			92,671
Rental Equipment, at cost (period end)		539,147			258,586			201,456			—			999,189
Rental Equipment, net book value (period end)		383,621			105,565			183,960			—			673,146
Utilization (period end)²		67.3	%		67.1	%		79.8	%
Average Utilization²		67.1	%		66.0	%		86.2	%


Segment Data (Continued)		Mobile Modular			TRS-RenTelco			Adler Tanks			Enviroplex¹			Consolidated
(dollar amounts in thousands)
Year Ended December 31,
2010
Rental Revenues	$	82,648		$	82,540		$	35,427		$	—		$	200,615
Rental Related Services Revenues		22,947			2,240			9,515			—			34,702
Sales and Other Revenues		21,117			22,982			289			11,695			56,083
Total Revenues		126,712			107,762			45,231			11,695			291,400
Depreciation of Rental Equipment		13,734			37,017			5,648			—			56,399
Gross Profit		56,902			43,449			27,685			2,753			130,789
Interest Expense (Income) Allocation		3,513			1,791			1,080			(198	)		6,186
Income before Provision for Income Taxes		25,080			19,263			14,444			263			59,050
Rental Equipment Acquisitions		22,948			42,406			52,353			—			117,707
Accounts Receivable, net (period end)		39,041			20,620			14,751			2,076			76,488
Rental Equipment, at cost (period end)		514,548			250,125			133,095			—			897,768
Rental Equipment, net book value (period end)		369,195			98,444			123,941			—			591,580
Utilization (period end)²		67.2	%		64.3	%		84.9	%
Average Utilization²		67.7	%		66.0	%		76.0	%

2009
Rental Revenues	$	92,331		$	75,500		$	18,611		$	—		$	186,442
Rental Related Services Revenues		25,174			1,970			6,208			—			33,352
Sales and Other Revenues		25,782			22,634			204			7,419			56,039
Total Revenues		143,287			100,104			25,023			7,419			275,833
Depreciation of Rental Equipment		13,718			40,175			3,322			—			57,215
Gross Profit		73,597			32,573			13,910			1,235			121,315
Interest Expense (Income) Allocation		4,199			2,213			893			(200	)		7,105
Income (Loss) before Provision for Income Taxes		42,090			8,482			4,451			(1,049	)		53,974
Rental Equipment Acquisitions		13,298			22,842			37,751			—			73,891
Accounts Receivable, net (period end)		41,165			20,578			7,313			1,541			70,597
Rental Equipment, at cost (period end)		504,018			239,152			80,916			—			824,086
Rental Equipment, net book value (period end) end)		367,939			101,902			77,397			—			547,238
Utilization (period end)²		69.0	%		63.1	%		67.6	%
Average Utilization²		73.4	%		61.4	%		70.3	%

Gross Enviroplex sales revenues were $20,884, $12,321 and $8,106 in 2010, 2009 and 2008, respectively, which includes inter-segment sales to Mobile Modular of $97, $626 and $687, which have been eliminated in consolidation.

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.

No single customer accounted for more than 10% of total revenues during 2011, 2010 and 2009. In addition, total foreign country customers and operations accounted for less than 10% of the Company's revenues and long-lived assets for the same periods.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

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+ Details

Quarterly Financial Information

12 Months Ended

Dec. 31, 2011

Quarterly Financial Information [Abstract]

Quarterly Financial Information

NOTE 12.

QUARTERLY FINANCIAL INFORMATION ( unaudited )

Quarterly financial information for each of the two years ended December 31, 2011 is summarized below:


(in thousands, except per share amounts)	2011
	First		Second		Third		Fourth		Year
Operations Data
Rental Revenues	$	54,026	$	57,118	$	60,964	$	62,798	$	234,906
Total Revenues		72,973		79,530		104,961		85,206		342,670
Gross Profit		35,852		39,359		47,387		44,193		166,791
Income from Operations		17,294		20,714		27,306		23,350		88,664
Income Before Provision for Income Taxes		15,812		18,760		25,255		21,231		81,058
Net Income		9,614		11,406		15,355		13,227		49,602
Earnings Per Share:
Basic	$	0.40	$	0.47	$	0.63	$	0.54	$	2.04
Diluted	$	0.39	$	0.46	$	0.62	$	0.53	$	2.00
Dividends Declared Per Share	$	0.23	$	0.23	$	0.23	$	0.23	$	0.92
Shares Used in Per Share Calculations:
Basic		24,258		24,340		24,362		24,431		24,349
Diluted		24,660		24,742		24,719		24,892		24,760
Balance Sheet Data
Rental Equipment, net	$	608,115	$	632,518	$	655,854	$	673,146	$	673,146
Total Assets		832,032		866,700		895,144		918,929		918,929
Notes Payable		265,771		270,500		289,573		296,500		296,500
Shareholders' Equity		300,976		309,322		320,410		333,142		333,142

	2010
	First		Second		Third		Fourth		Year
Operations Data
Rental Revenues	$	45,133	$	47,851	$	52,674	$	54,957	$	200,615
Total Revenues		61,730		66,523		83,204		79,943		291,400
Gross Profit		27,782		30,528		34,050		38,455		130,815
Income from Operations		12,371		13,579		17,481		21,805		65,236
Income Before Provision for Income Taxes		10,862		12,073		15,849		20,266		59,050
Net Income		6,648		7,388		9,700		12,743		36,479
Earnings Per Share:
Basic	$	0.28	$	0.31	$	0.41	$	0.53	$	1.52
Diluted	$	0.28	$	0.31	$	0.40	$	0.52	$	1.50
Dividends Declared Per Share	$	0.225	$	0.225	$	0.225	$	0.225	$	0.90
Shares Used in Per Share Calculations:
Basic		23,826		23,924		23,936		24,085		23,944
Diluted		24,075		24,201		24,173		24,500		24,289
Balance Sheet Data
Rental Equipment, net	$	554,681	$	571,810	$	587,149	$	591,580	$	591,580
Total Assets		754,948		777,860		812,651		813,562		813,562
Notes Payable		242,047		263,500		272,500		265,640		265,640
Shareholders' Equity		271,856		275,179		280,952		294,977		294,977

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References + Details