0001564590-22-006230 | 10-K | XBRL Viewer

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Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash	$ 1,491	$ 1,238
Accounts receivable, net of allowance for doubtful accounts of $2,125 in 2021 and $2,100 in 2020	159,499	123,316
Rental equipment, at cost:
Relocatable modular buildings	1,040,094	882,115
Electronic test equipment	361,391	333,020
Liquid and solid containment tanks and boxes	309,908	315,706
Rental equipment, gross	1,711,393	1,530,841
Less: accumulated depreciation	(646,169)	(592,725)
Rental equipment, net	1,065,224	938,116
Property, plant and equipment, net	135,325	136,210
Prepaid expenses and other assets	54,945	41,549
Intangible assets, net	47,049	7,118
Goodwill	132,393	28,197
Total assets	1,595,926	1,275,744
Liabilities:
Notes payable	426,451	222,754
Accounts payable and accrued liabilities	136,313	108,334
Deferred income	58,716	45,975
Deferred income taxes, net	242,425	216,077
Total liabilities	863,905	593,140
Commitments and contingencies (Note 9)
Shareholders’ equity:
Common stock, no par value - Authorized 40,000 shares Issued and outstanding - 24,260 shares as of December 31, 2021 and 24,128 shares as of December 31, 2020	108,610	106,289
Retained earnings	623,465	576,419
Accumulated other comprehensive loss	(54)	(104)
Total shareholders’ equity	732,021	682,604
Total liabilities and shareholders’ equity	$ 1,595,926	$ 1,275,744

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2,125	$ 2,100
Common stock, par value
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	24,260,000	24,128,000
Common stock, shares outstanding	24,260,000	24,128,000

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues
Rental	$ 390,013	$ 351,790	$ 353,889
Rental related services	98,061	92,393	101,038
Rental operations	488,074	444,183	454,927
Revenues	128,759	128,371	115,303
Total revenues	616,833	572,554	570,230
Direct costs of rental operations:
Depreciation of rental equipment	91,887	85,866	80,391
Rental related services	74,256	68,105	76,241
Other	91,069	73,818	79,365
Total direct costs of rental operations	257,212	227,789	235,997
Costs of sales	78,600	81,019	68,068
Total costs of revenues	335,812	308,808	304,065
Gross profit	281,021	263,746	266,165
Selling and administrative expenses	148,600	122,993	124,793
Income from operations	132,421	140,753	141,372
Other income (expense):
Interest expense	(10,455)	(8,787)	(12,331)
Foreign currency exchange (loss) gain	(210)	78	84
Income before provision for income taxes	121,756	132,044	129,125
Provision for income taxes	32,051	30,060	32,319
Net income	$ 89,705	$ 101,984	$ 96,806
Earnings per share:
Basic	$ 3.70	$ 4.22	$ 3.99
Diluted	$ 3.66	$ 4.16	$ 3.93
Shares used in per share calculation:
Basic	24,220	24,157	24,250
Diluted	24,515	24,531	24,623
Cash dividends declared per share	$ 1.74	$ 1.68	$ 1.50
Sales [Member]
Revenues
Revenues	$ 125,235	$ 124,604	$ 110,229
Other [Member]
Revenues
Revenues	$ 3,524	$ 3,767	$ 5,074

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 89,705	$ 101,984	$ 96,806
Other comprehensive income (loss):
Foreign currency translation adjustment, net of tax impact	50	(34)	(21)
Comprehensive income	$ 89,755	$ 101,950	$ 96,785

- Definition

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

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+ Details

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Dec. 31, 2018	$ 571,535	$ 103,801	$ 467,783	$ (49)
Balance, Shares at Dec. 31, 2018		24,182,000
Net income	96,806		96,806
Share-based compensation	5,892	$ 5,892
Common stock issued under stock Plans, net of shares withheld for employee taxes, Shares		114,000
Taxes paid related to net share settlement of stock awards	(3,333)	$ (3,333)
Dividends accrued at $1.50, $1.68 and $1.74 per share in 2019, 2020 and 2021	(36,843)		(36,843)
Other comprehensive (loss) income	(21)			(21)
Balance at Dec. 31, 2019	634,036	$ 106,360	527,746	(70)
Balance, Shares at Dec. 31, 2019		24,296,000
Net income	101,984		101,984
Share-based compensation	5,549	$ 5,549
Common stock issued under stock Plans, net of shares withheld for employee taxes, Shares		114,000
Repurchased common stock	(13,617)	$ (1,244)	(12,373)
Repurchased common stock, Shares		(282,000)
Taxes paid related to net share settlement of stock awards	(4,376)	$ (4,376)
Dividends accrued at $1.50, $1.68 and $1.74 per share in 2019, 2020 and 2021	(40,938)		(40,938)
Other comprehensive (loss) income	(34)			(34)
Balance at Dec. 31, 2020	$ 682,604	$ 106,289	576,419	(104)
Balance, Shares at Dec. 31, 2020	24,128,000	24,128,000
Net income	$ 89,705		89,705
Share-based compensation	7,666	$ 7,666
Common stock issued under stock Plans, net of shares withheld for employee taxes, Shares		132,000
Taxes paid related to net share settlement of stock awards	(5,345)	$ (5,345)
Dividends accrued at $1.50, $1.68 and $1.74 per share in 2019, 2020 and 2021	(42,659)		(42,659)
Other comprehensive (loss) income	50			50
Balance at Dec. 31, 2021	$ 732,021	$ 108,610	$ 623,465	$ (54)
Balance, Shares at Dec. 31, 2021	24,260,000	24,260,000

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash dividends declared per share	$ 1.74	$ 1.68	$ 1.50
Retained Earnings [Member]
Cash dividends declared per share	$ 1.74	$ 1.68	$ 1.50

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash Flows from Operating Activities:
Net income	$ 89,704	$ 101,984	$ 96,806
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	106,695	94,643	89,476
Provision for doubtful accounts	451	1,343	1,013
Share-based compensation	7,666	5,549	5,892
Gain on sale of used rental equipment	(25,441)	(19,329)	(21,309)
Foreign currency exchange loss (gain)	210	(78)	(84)
Amortization of debt issuance costs	15	11	11
Change in:
Accounts receivable	(24,397)	3,440	(7,323)
Prepaid expenses and other assets	(6,816)	3,807	(13,530)
Accounts payable and accrued liabilities	12,226	316	20,298
Deferred income	9,082	(8,989)	5,138
Deferred income taxes	26,348	(2,193)	11,606
Net cash provided by operating activities	195,743	180,504	187,994
Cash Flows from Investing Activities:
Purchases of rental equipment	(114,145)	(86,329)	(167,703)
Purchases of property, plant and equipment	(2,680)	(13,724)	(12,080)
Cash paid for acquisition of businesses	(283,123)		(7,808)
Cash paid for acquisition of business assets	(6,585)
Cash paid for acquisition of non-compete agreements	(2,500)
Proceeds from sales of used rental equipment	57,337	47,052	44,447
Net cash used in investing activities	(351,696)	(53,001)	(143,144)
Cash Flows from Financing Activities:
Net borrowing (repayment) under bank lines of credit	143,729	(70,689)	(5,144)
Borrowings under note purchase agreement	100,000
Principal payment of Series B senior notes	(40,000)
Repurchase of common stock		(13,617)
Taxes paid related to net share settlement of stock awards	(5,345)	(4,376)	(3,333)
Payment of dividends	(42,182)	(39,769)	(35,539)
Net cash provided by (used in) financing activities	156,202	(128,451)	(44,016)
Effect of foreign currency exchange rate changes on cash	4	(156)
Net increase (decrease) in cash	253	(1,104)	834
Cash balance, beginning of period	1,238	2,342	1,508
Cash balance, end of period	1,491	1,238	2,342
Supplemental Disclosure of Cash Flow Information:
Interest paid, during the period	10,326	9,050	12,475
Net income taxes paid, during the period	9,087	34,903	17,528
Dividends accrued during the period, not yet paid	11,280	10,083	9,489
Rental equipment acquisitions, not yet paid	$ 5,750	$ 4,373	$ 6,496

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization

McGrath RentCorp and its wholly-owned subsidiaries (the “Company”) is a California corporation organized in 1979. The Company is a diversified business to business rental company with four rental divisions; relocatable modular buildings, portable storage containers, 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 reportable business segments: modular building and portable storage segment (“Mobile Modular”), electronic test equipment segment (“TRS-RenTelco”), containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (“Adler Tanks”) and classroom manufacturing division selling modular classrooms in California (“Enviroplex”).

Principles of Consolidation

The consolidated financial statements include the accounts of McGrath RentCorp and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

Revenue Recognition

Lease revenues - Rental revenues from operating leases are recognized on a straight-line basis over the term of the lease for all operating segments. Rental billings for periods extending beyond period end are recorded as deferred income and are recognized in the period earned. Rental related services revenues are primarily associated with relocatable modular building and liquid and solid containment tanks and boxes leases. For modular building leases, rental related services revenues for modifications, delivery, installation, dismantle and return delivery are lease related because the payments are considered minimum lease payments that are an integral part of the negotiated lease agreement with the customer. These revenues are recognized on a straight-line basis over the term of the lease. 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 revenues include interest income on sales-type leases and rental income on facility leases.

Non-lease revenues - 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 leases 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, portable storage containers and tanks and boxes 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
Blast resistant and kitchen modules		20 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		3 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 liquid and solid containment tank and boxes. Modular building leases primarily 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 may have occurred. Impairment losses, if any, are determined based upon the excess of carrying value over the estimated fair value of the asset. There were no impairments of long-lived assets during the years ended December 31, 2021, 2020 and 2019.

Other Direct Costs of Rental Operations

Other direct costs of rental operations include direct labor, supplies, repairs, insurance, property taxes, license fees, impairment of rental equipment 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 for property, plant and equipment is included in “Selling and administrative expenses” and “Rental related services” 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		December 31,
	in years		2021			2020
Land	Indefinite		$	54,428		$	54,429
Land improvements	20 – 50			59,633			59,249
Buildings		30		33,781			32,306
Furniture, office equipment and software	3 – 10			37,965			36,882
Vehicles and machinery	5 – 25			44,560			43,101
				230,367			225,967
Less: accumulated depreciation				(98,333	)		(91,514	)
				132,034			134,453
Construction in progress				3,291			1,757
			$	135,325		$	136,210

Property, plant and equipment depreciation expense was $8.9 million, $8.6 million and $8.2 million for the years ended December 31, 2021, 2020 and 2019, respectively. Construction in progress at December 31, 2021 and 2020 consisted primarily of costs related to acquisition of land, land improvements and information technology upgrades.

Capitalized Software Costs

The Company capitalizes certain development costs incurred in connection with its internal use software. Costs incurred in the preliminary stages of development are expensed as incurred. Once an application has reached the development stage, direct internal and external costs are capitalized until the software is substantially complete and ready for its intended use. These costs generally include external direct costs of materials and services consumed in the project and internal costs, such as payroll and benefits of those employees directly associated with the development of the software. Maintenance, training and post implementation costs are expensed as incurred. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional functionality. Capitalized software costs are included in property, plant and equipment. The Company capitalized $0.2 million and $0.1 million in internal use software during the years ended December 31, 2021 and 2020, respectively.

Advertising Costs

Advertising costs are expensed as incurred. Total advertising expenses were $5.1 million, $3.9 million and $3.6 million for the years ended December 31, 2021, 2020 and 2019.

Income Taxes

Income taxes are accounted for using an asset and liability approach. Deferred tax assets and liabilities are recorded for the effect of temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements. Deferred tax assets and deferred tax liabilities are adjusted to the extent necessary to reflect tax rates expected to be in effect when temporary differences reverse. Adjustments may be required to deferred tax assets and deferred tax liabilities due to changes in tax laws and audit adjustments by tax authorities. A valuation allowance would be established if, based on the weight of available evidence, management believes that it is more likely than not that some portion or all of a recorded deferred tax asset would not be realized in future periods. To the extent adjustments are required in any given period, the adjustments would be included within the “Provision for income taxes” in the Consolidated Statements of Income.

Goodwill and Intangible Assets

Purchase prices of acquired businesses are 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 are allocated to goodwill. At December 31, 2021 and 2020, goodwill and trade name intangible assets which have indefinite lives totaled $138.3 million and $34.1 million, respectively.

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 with indefinite lives 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 of the Company’s goodwill 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. The fair value of the reporting unit is compared to its carrying value to determine if the goodwill is impaired. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that unit, then goodwill is not impaired. If the carrying value of the net assets assigned to the reporting unit were to exceed its fair value, then a goodwill impairment loss is recorded for the amount the reporting unit’s carrying value exceeds the estimated fair value.

The Company conducted its annual impairment analysis in the fourth quarter of 2021. The impairment analysis did not result in an impairment charge for the fiscal year ended 2021. There were no impairment charges in 2020 or 2019. 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 assuming conversion of all potentially dilutive securities including the dilutive effects of stock options, unvested restricted stock awards and other potentially dilutive securities. The table below presents the weighted-average common stock used to calculate basic and diluted earnings per share:

(in thousands)	Year Ended December 31,
	2021		2020		2019
Weighted-average common stock for calculating basic earnings per share		24,220		24,157		24,250
Effect of potentially dilutive securities from equity-based compensation		295		374		373
Weighted-average common stock for calculating diluted earnings per share		24,515		24,531		24,623

In 2021, 2020 and 2019, there were no shares having an anti-dilutive effect requiring exclusion from the computation of diluted earnings per share.

The Company has made purchases of shares of its common stock from time to time in over-the-counter market (NASDAQ) transactions, through privately negotiated, large block transactions and through a share repurchase plan, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. In August 2015, the Company’s Board of Directors authorized the Company to repurchase up to 2,000,000 shares of the Company's outstanding common stock (the “Repurchase Plan”). The amount and time of the specific repurchases are subject to prevailing market conditions, applicable legal requirements and other factors, including management’s discretion. All shares repurchased by the Company are canceled and returned to the status of authorized but unissued shares of common stock. There can be no assurance that any authorized shares will be repurchased and the Repurchase Plan may be modified, extended or terminated by the Board of Directors at any time. In the twelve months ended December 31, 2021, there were no shares of common stock repurchased. In the twelve months ended December 31, 2020, the Company repurchased 282,221 shares of its common stock for an average purchase price of $48.25 per share or an aggregate price of $13.6 million. There were no repurchases of common stock during the twelve months ended December 31, 2019. As of December 31, 2021, 1,309,805 shares remain authorized for repurchase.

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 modular building 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 delivery of buildings, were $46.2 million at December 31, 2021 and $38.7 million at December 31, 2020. 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 is based on the Company’s assessment of the collectability of customer accounts receivable from operating lease and non-lease revenues. The Company regularly reviews the allowance by considering factors such as historical payment experience and trends, the age of the accounts receivable balances, the Company’s operating segment, customer industry, credit quality and current economic conditions that may affect a customer’s ability to pay. The Company recognized bad debt expense of $0.5 million, $1.3 million and $1.0 million for the twelve months ended December 31, 2021, 2020 and 2019, respectively. The allowance for doubtful accounts was $2.1 million, $2.1 million and $1.9 million at December 31, 2021, 2020 and 2019, respectively.

The allowance for doubtful accounts activity was as follows:

(in thousands)	2021			2020
Beginning balance, January 1	$	2,100		$	1,883
Provision for doubtful accounts		451			1,343
Acquired Design Space Reserve (see Note 13)		125			—
Write-offs, net of recoveries		(551	)		(1,126	)
Ending balance, December 31	$	2,125		$	2,100

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 Deposit Insurance Corporation limits.

Net investment in sales-type leases

The Company enters into sales-type leases with certain qualified customers to purchase its rental equipment, primarily at its TRS-RenTelco operating segment. Sales-type leases have terms that generally range from 12 to 36 months and are collateralized by a security interest in the underlying rental asset. The net investment in sales-type leases was $2.2 million at December 31, 2021 and $1.8 million at December 31, 2020. The Company’s assessment of current expected losses on these receivables was not material and no credit loss expense was provided as of December 31, 2021. The Company regularly reviews the allowance by considering factors such as historical payment experience, the age of the lease receivable balances, credit quality and current economic conditions that may affect a customer's ability to pay. Lease receivables are considered past due 90 days after invoice. The Company manages the credit risk in net investment in sales-type leases, on an ongoing basis, using a number of factors, including, but not limited to the following: historical payment history, credit score, size of operations, length of time in business, industry, historical profitability, historical cash flows, liquidity and past due amounts. The Company uses credit scores obtained from external credit bureaus as a key indicator for the purposes of determining credit quality of its new customers. The Company does not own available for sale debt securities or other financial assets at December 31, 2021.

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 $158.5 million and $103.1 million compared to the recorded value of $160.0 million and $100.0 million as of December 31, 2021 and 2020, 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 and Translation

The Company's Canadian subsidiary, TRS-RenTelco Inc., a British Columbia corporation (“TRS-Canada”), functions as a branch sales office for TRS-RenTelco in Canada. The functional currency for TRS-Canada is the U.S. dollar. Foreign currency transaction gains and losses of TRS-Canada are reported in the results of operations in the period in which they occur.

The Company’s Indian subsidiary, TRS-RenTelco India Private Limited (“TRS-India”), functioned as a rental and sales office for TRS-RenTelco in India, which commenced its closure during 2017. The functional currency for TRS-India is the Indian Rupee. All assets and liabilities of TRS-India are translated into U.S. dollars at period-end exchange rates and all income statement amounts are translated at the average exchange rate for each month within the year.

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.

Share-Based Compensation

The Company measures and recognizes the compensation expense for all share-based awards made to employees and directors, including stock options, stock appreciation rights (“SARs”) and restricted stock units (“RSUs”), based upon estimated fair values. The fair value of stock options and SARs is estimated on the date of grant using the Black-Scholes option pricing model and for RSUs based upon the fair market value of the underlying shares of common stock as of the date of grant. The Company recognizes share-based compensation cost ratably on a straight-line basis over the requisite service period, which generally equals the vesting period. For performance-based RSUs, compensation costs are recognized when it is probable that vesting conditions will be met. In addition, the Company estimates the probable number of shares of common stock that will be earned and the corresponding compensation cost until the achievement of the performance goal is known. The Company recognizes forfeitures based on actual forfeitures when they occur. The Company records share-based compensation costs in “Selling and administrative expenses” in the Consolidated Statements of Income. The Company recognizes a benefit from share-based compensation in the Consolidated Statements of Shareholders’ Equity if an incremental tax benefit is realized. Further information regarding share-based compensation can be found in “Note 8 –Benefit Plans”.

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 and indefinite lived intangible assets carrying value, the various assets’ useful lives and residual values, and the allowance for doubtful accounts.

Implemented Accounting Pronouncements

12 Months Ended

Dec. 31, 2021

Accounting Changes And Error Corrections [Abstract]

Implemented Accounting Pronouncements

NOTE 2. IMPLEMENTED ACCOUNTING PRONOUNCEMENTS

Effective January 1, 2021, the Company adopted the Financial Accounting Standards Board’s Accounting Standard Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, expected to reduce cost and complexity related to the accounting for income taxes. The ASU removed specific exceptions to the general principles in Topic 740 (GAAP). It eliminated the need for an organization to analyze whether the following apply in a given period: exception to the incremental approach for intra-period tax allocation; exceptions to accounting for basis differences when there are ownership changes in foreign investments; and exception in interim period income tax accounting for year-to-date losses that exceed anticipated losses. The ASU also improved financial statement preparers’ application of income tax-related guidance and simplifies GAAP for: franchise taxes that are partially based on income; transactions with a government that result in a step up in the tax basis of goodwill; separate financial statements of legal entities that are not subject to tax; and enacted changes in tax laws in interim periods. The adoption of this new guidance did not have a material impact on the Company’s consolidated financial statements.

Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

NOTE 3. LEASES

Lessee

The Company leases real estate for certain of its branch offices and rental equipment storage yards, vehicles and equipment used in its rental operations. The Company determines if an arrangement is a lease at inception. The Company has leases with lease and non-lease components, which are accounted for separately. Right-Of-Use (“ROU”) assets and liabilities are recognized on the commencement date based on the present value of lease payments over the lease term. Variable lease payments are excluded from the ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred, which are not material. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company uses the interest rate stated in the lease as the discount rate. If the interest rate is not stated, the Company uses its incremental borrowing rate based on information available on lease commencement date in determining the present value of lease payments. Many of the Company’s real estate lease agreements include options to extend the lease, which are not included in the minimum lease terms unless they are reasonably certain to be exercised. These leases include one or more options to renew, with renewal terms that may extend the lease term from one to three years. The amount of payments associated with such options is not material. Short-term leases are leases having a term of twelve months or less and exclude leases with a lease term of one month or less. The Company recognizes short-term leases on a straight-line basis and does not record a related ROU asset or liability for such leases. At December 31, 2021 and 2020 the Company’s ROU assets and operating lease liabilities was $11.0 million and $8.3 million, respectively, which are recorded in Prepaid expenses and other assets and Accounts payable and accrued liabilities on the Company’s Consolidated Balance Sheets.

During the year ended December 31, 2021, operating lease expense was $5.4 million, which includes short term lease expense of $0.1 million. At December 31, 2021, the weighted-average remaining lease term for operating leases was 2.4 years and the weighted

average discount rate was 2.67%. The Company had no sub-lease income during the year ended December 31, 2021, and did not have any finance leases as of December 31, 2021.

Supplemental cash flow information related to leases was as follows:

(in thousands)	Year Ended December 31,
	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,171	$	3,683

Right of use assets obtained in exchange for lease obligations:
Operating leases	$	8,116	$	1,885

As of December 31, 2021, maturities of operating lease liabilities were as follows:

(in thousands)
Year ended December 31,
2022	$	5,702
2023		3,631
2024		1,613
2025		572
2026		33
Thereafter		—
Total lease payments		11,551
Less: imputed interest		(555	)
	$	10,996

Lessor

The Company’s equipment rentals for each of its operating segments are governed by agreements that detail the lease terms and conditions. The determination of whether these contracts with customers contain a lease generally does not require significant judgement. The Company accounts for these rentals as operating leases. These leases do not include material amounts of variable payments and the Company has made the accounting policy election to exclude all taxes assessed by a governmental authority. The Company generally does not provide an option for the lessee to purchase the rented equipment at the end of the lease term, thus, does not generate material revenue from sales of equipment under such options. Initial lease terms vary in length based upon customer needs and generally range from one to sixty months. Customers have the option to keep equipment on rent beyond the initial lease term on a month-to month basis based upon their needs. All of the Company’s rental products have long useful lives relative to the typical rental term with the original investment typically recovered in approximately three to five years. The rental products are typically rented for a majority of the time owned and a significant portion of the original investment is recovered when sold from inventory. The Company’s lease agreements do not contain residual value guarantees or restrictive covenants.

As of December 31, 2021, maturities of operating lease payments to be received in 2022 and thereafter were as follows:

(in thousands)
Year Ended December 31,
2022	$	101,446
2023		30,782
2024		10,761
2025		3,269
2026		1,414
Thereafter		180
	$	147,852

In the year ended December 31, 2021, the Company’s lease revenues were $442.6 million, consisting of $439.9 of operating lease revenues and $2.7 million of finance lease revenues. The Company has entered into finance leases to finance certain equipment sales to customers. The lease agreements have a bargain purchase option at the end of the lease term. 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. For the year ended December 31, 2021, the Company’s finance lease revenues included $2.5 million of sales revenues and $0.2 million of interest income. The minimum lease payments receivable and the net investment are included in Accounts receivable on the Company’s Consolidated Balance Sheet for such leases, which were as follows:

(in thousands)	December 31, 2021
Gross minimum lease payments receivable	$	2,392
Less – unearned interest		(184	)
Net investment in finance lease receivables	$	2,208

As of December 31, 2021, the future minimum lease payments under non-cancelable finance leases to be received in 2022 and thereafter were as follows:

(in thousands)
Year Ended December 31,
2022	$	1,860
2023		270
2024		78
2025		—
Total minimum future lease payments to be received	$	2,208

Revenue Recognition

12 Months Ended

Dec. 31, 2021

Revenue From Contract With Customer [Abstract]

Revenue Recognition

NOTE 4. REVENUE RECOGNITION

The Company’s accounting for revenues is governed by two accounting standards. The majority of the Company’s revenues are considered lease or lease related and are accounted for in accordance with Topic 842, Leases. Revenues determined to be non-lease related are accounted for in accordance with ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). The Company accounts for revenues when approval and commitment from both parties have been obtained, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. The Company typically recognizes non-lease related revenues at a point in time because the customer does not simultaneously consume the benefits of the Company’s promised goods and services, or performance obligations, and obtain control when delivery and installation are complete. For contracts that have multiple performance obligations, the transaction price is allocated to each performance obligation in the contract based on the Company’s best estimate of the standalone selling prices of each distinct performance obligation in the contract. The standalone selling price is typically determined based upon the expected cost plus an estimated margin of each performance obligation.

The Company generally rents and sells to customers on 30 day payment terms. The Company does not typically offer variable payment terms, or accept non-monetary consideration. Amounts billed and due from the Company’s customers are classified as Accounts receivable on the Company’s consolidated balance sheet. For certain sales of modular buildings, progress payments from the customer are received during the manufacturing of new equipment, or the preparation of used equipment. The advance payments are not considered a significant financing component because the payments are used to meet working capital needs during the contract and to protect the Company from the customer failing to adequately complete their obligations under the contract. These contract liabilities are included in Deferred income on the Company’s consolidated balance sheets and totaled $16.8 million and $11.3 million at December 31, 2021 and 2020, respectively. Sales revenues totaling $9.8 million were recognized during the year ended December 31, 2021, which were included in the contract liability balance at December 31, 2020. For certain modular building sales, the customer retains a small portion of the contract price until full completion of the contract, which results in revenue earned in excess of billings. These unbilled contract assets are included in Accounts receivable on the Company’s consolidated balance sheets and totaled $1.3 million and $1.4 million at December 31, 2021 and 2020, respectively.

Lease Revenues

Rental revenues from operating leases are recognized on a straight-line basis over the term of the lease for all operating segments. Rental billings for periods extending beyond period end are recorded as deferred income and are recognized in the period earned. Rental related services revenues are primarily associated with relocatable modular building and liquid and solid containment tanks and boxes leases. For modular building leases, rental related services revenues for modifications, delivery, installation, dismantle and return

delivery are lease related because the payments are considered minimum lease payments that are an integral part of the negotiated lease agreement with the customer. These revenues are recognized on a straight-line basis over the term of the lease. 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 revenues include interest income on sales-type leases and rental income on facility leases.

Non-Lease Revenues

Non-lease revenues are recognized in the period when control of the performance obligation is transferred, in an amount that reflects the consideration the Company expects to be entitled to receive in exchange for those goods or services. For liquid and solid containment solutions, portable storage containers and electronic test equipment, rental related services revenues for delivery and return delivery are considered non-lease revenues.

Sales revenues are typically recognized at a point in time, which occurs upon the completion of delivery, installation and acceptance of the equipment by the customer. Accounting for non-lease revenues requires judgment in determining the point in time the customer gains control of the equipment and the appropriate accounting period to recognize revenue.

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

The following table disaggregates the Company’s revenues by lease (within the scope of Topic 840) and non-lease revenues (within the scope of Topic 606) and the underlying service provided for the three years ended December 31, 2021, 2020 and 2019:

(in thousands)	Mobile Modular		TRS- RenTelco		Adler Tanks		Enviroplex		Consolidated
Year Ended December 31,
2021
Leasing	$	269,175	$	116,769	$	56,654	$	—	$	442,598
Non-lease:
Rental related services		25,034		2,469		22,487		—		49,990
Sales		68,982		19,788		2,930		31,081		122,781
Other		125		1,168		171		—		1,464
Total non-lease		94,141		23,425		25,588		31,081		174,235
Total revenues	$	363,316	$	140,194	$	82,242	$	31,081	$	616,833

2020
Leasing	$	235,003	$	112,210	$	54,710	$	—	$	401,923
Non-lease:
Rental related services		22,576		2,618		21,320		—		46,514
Sales		63,863		24,461		1,386		32,737		122,447
Other		82		1,522		66		—		1,670
Total non-lease		86,521		28,601		22,772		32,737		170,631
Total revenues	$	321,524	$	140,811	$	77,482	$	32,737	$	572,554

2019
Leasing	$	234,032	$	108,044	$	68,917	$	—	$	410,993
Non-lease:
Rental related services		18,964		2,599		27,634		—		49,197
Sales		47,045		18,995		1,266		39,814		107,120
Other		969		1,845		106		—		2,920
Total non-lease		66,978		23,439		29,006		39,814		159,237
Total revenues	$	301,010	$	131,483	$	97,923	$	39,814	$	570,230

Customer returns of rental equipment prior to the end of the rental contract term are typically billed a cancellation fee, which is recorded as rental revenue in the period billed. 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.

The Company’s incremental cost of obtaining lease contracts, which consists of salesperson commissions, are deferred and amortized over the initial lease term for modular building leases. Incremental costs for obtaining a contract for all other operating segments are expensed in the period incurred because the lease term is typically less than 12 months.

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Notes Payable

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Notes Payable

NOTE 5. NOTES PAYABLE

Notes payable consists of the following:

(in thousands)	December 31,
	2021			2020
Unsecured revolving lines of credit	$	266,500		$	122,771
3.68% Series B senior notes due in 2021		—			40,000
3.84% Series C senior notes due in 2022		60,000			60,000
2.35% Series E senior notes due in 2026		60,000			—
2.57% Series D senior notes due in 2028		40,000			—
		426,500			222,771
Unamortized debt issuance cost		(49	)		(17	)
	$	426,451		$	222,754

As of December 31, 2021, the future minimum payments under the unsecured revolving lines of credit, 3.84% Series C senior notes, 2.35% Series E senior notes, and 2.57% Series D senior notes due in 2022, 2026 and 2028, respectively, are as follows:

(in thousands)
Year Ended December 31,
2022	$	60,000
2023		—
2024		—
2025		266,500
2026		60,000
Thereafter		40,000
	$	426,500

Unsecured Revolving Lines of Credit

On March 31, 2020, the Company entered into an amended and restated credit agreement with Bank of America, N.A., as Administrative Agent, Swing Line Lender, L/C Issuer and lender, and other lenders named therein (the “Credit Facility”). The Credit Facility provides for a $420.0 million unsecured revolving credit facility (which may be further increased to $670.0 million by adding one or more tranches of term loans and/or increasing the aggregate revolving commitments), which includes a $25.0 million sublimit for the issuance of standby letters of credit and a $10.0 million sublimit for swingline loans. The proceeds of the Credit Facility are available to be used for general corporate purposes, including permitted acquisitions. The Credit Facility permits the Company’s existing indebtedness to remain, which includes the Company’s $12.0 million Treasury Sweep Note due March 31, 2025, the Company’s existing senior notes issued pursuant to the Note Purchase and Private Shelf Agreement with Prudential Investment Management, Inc., dated as of April 21, 2011 (as amended, the “the Prior NPA”): (i) the $40.0 million aggregate outstanding principal of notes issued March 17, 2014 and which were repaid on March 17, 2021, and (ii) the $60.0 million aggregate outstanding principal of notes issued November 5, 2015 and due November 5, 2022. In addition, the Company may incur additional senior note indebtedness in an aggregate amount not to exceed $250.0 million. The Credit Facility matures on March 31, 2025 and replaced the Company’s prior $420.0 million credit facility dated March 31, 2016 with Bank of America, N.A., as agent, as amended. All obligations outstanding under the prior credit facility as of the date of the Credit Facility were refinanced by the Credit Facility on March 31, 2020.

On March 30, 2020, the Company entered into an amended and restated Credit Facility Letter Agreement and a Credit Line Note in favor of MUFG Union Bank, N.A., which provides for a $12.0 million line of credit facility related to its cash management services (“Sweep Service Facility”). The Sweep Service Facility matures on the earlier of March 31, 2025, or the date the Company ceases to

utilize MUFG Union Bank, N.A. for its cash management services. The Sweep Service Facility replaced the Company’s prior $12.0 million sweep service facility, dated as of March 31, 2016.

At December 31, 2021, under the Credit Facility and Sweep Service Facility, the Company had unsecured lines of credit that permit it to borrow up to $432.0 million of which $266.5 million was outstanding. The Amended Credit Facility contains financial covenants requiring the Company to not (all defined terms used below not otherwise defined herein have the meaning assigned to such terms in the Amended Credit Facility):

•

Permit the Consolidated Fixed Charge Coverage Ratio of EBITDA to fixed charges as of the end of any fiscal quarter to be less than 2.50 to 1. At December 31, 2021, the actual ratio was 4.08 to 1.

•

Permit the Consolidated Leverage Ratio of funded debt to EBITDA at any time during any period of four consecutive fiscal quarters to be greater than 2.75 to 1. At December 31, 2021, the actual ratio was 1.73 to 1.

Amounts borrowed under the Credit Facility bear interest at the Company’s option at either: (i) LIBOR plus a defined margin, or (ii) the Agent bank’s prime rate (“base rate”) plus a margin. The applicable margin for each type of loan is measured based upon the Consolidated Leverage Ratio at the end of the prior fiscal quarter and ranges from 1.00% to 1.75% for LIBOR loans and 0% to 0.75% for base rate loans. In addition, the Company pays an unused commitment fee for the portion of the $420.0 million credit facility that is not used. These fees are based upon the Consolidated Leverage Ratio and range from 0.15% to 0.30%. As of December 31, 2021 and 2020, the applicable margins were 1.25% for LIBOR based loans, 0.25% for base rate loans and 0.20% for unused fees. Amounts borrowed under the Sweep Service Facility are based upon the MUFG Union Bank, N.A. base rate plus an applicable margin and an unused commitment fee for the portion of the $12.0 million facility not used. The applicable base rate margin and unused commitment fee rates for the Sweep Service Facility are the same as for the Amended Credit Facility. The following information relates to the lines of credit for each of the following periods:

(dollar amounts in thousands)	Year Ended December 31,
	2021			2020
Maximum amount outstanding	$	389,740		$	199,471
Average amount outstanding	$	239,134		$	170,075
Weighted average interest rate, during the period		2.07	%		2.11	%
Prime interest rate, end of period		3.25	%		3.25	%

Note Purchase and Private Shelf Agreement

On March 31, 2020, the Company entered into an Amended and Restated Note Purchase and Private Shelf Agreement (the “Note Purchase Agreement”) with PGIM, Inc. (“PGIM”) and the holders of Series B and Series C Notes previously issued pursuant to the Prior NPA, among the Company and the other parties to the Note Purchase Agreement. The Note Purchase Agreement amended and restated, and superseded in its entirety, the Prior NPA. Pursuant to the Prior NPA, the Company issued (i) $40.0 million aggregate principal amount of its 3.68% Series B Senior Notes, which were repaid on March 17, 2021, and (ii) $60.0 million aggregate principal amount of its 3.84% Series C Senior Notes due November 5, 2022, to which the terms of the Note Purchase Agreement shall apply.

In addition, pursuant to the Note Purchase Agreement, the Company may authorize the issuance and sale of additional senior notes (the “Shelf Notes”) in the aggregate principal amount of (x) $250 million minus (y) the amount of other notes (such as the Series B Senior Notes and Series C Senior Notes, each defined below) then outstanding, to be dated the date of issuance thereof, to mature, in case of each Shelf Note so issued, no more than 15 years after the date of original issuance thereof, to have an average life, in the case of each Shelf Note so issued, of no more than 15 years after the date of original issuance thereof, to bear interest on the unpaid balance thereof from the date thereof at the rate per annum, and to have such other particular terms, as shall be set forth, in the case of each Shelf Note so issued, in accordance with the Note Purchase Agreement. Shelf Notes may be issued and sold from time to time at the discretion of the Company’s Board of Directors and in such amounts as the Board of Directors may determine, subject to prospective purchasers’ agreement to purchase the Shelf Notes. The Company will sell the Shelf Notes directly to such purchasers. The full net proceeds of each Shelf Note will be used in the manner described in the applicable Request for Purchase with respect to such Shelf Note.

3.84% Senior Notes Due in 2022

On November 5, 2015, the Company issued and sold to the purchasers a $60.0 million aggregate principal amount of its 3.84% Series C Senior Notes (the “Series C Senior Notes”) pursuant to the terms of the Prior NPA. The Series C Senior Notes are an unsecured obligation of the Company and bear interest at a rate of 3.84% per annum and mature on November 5, 2022. Interest on the Series C Senior Notes is payable semi-annually beginning on May 5, 2016 and continuing thereafter on November 5 and May 5 of each year until maturity. The principal balance is due when the notes mature on November 5, 2022. The full net proceeds from the Series C Senior

Notes were used to reduce the outstanding balance on the Company’s revolving credit line. At December 31, 2020, the principal balance outstanding under the Series C Senior Notes was $60.0 million.

2.57% Senior Notes Due in 2028

On March 17, 2021, the Company issued and sold to the purchasers $40 million aggregate principal amount of 2.57% Series D Notes (the “Series D Senior Notes”) pursuant to the terms of the Amended and Restated Note Purchase and Private Shelf Agreement, dated March 31, 2020 (the “Note Purchase Agreement”), among the Company, PGIM, Inc. and the noteholders party thereto.

The Series D Senior Notes are an unsecured obligation of the Company and bear interest at a rate of 2.57% per annum and mature on March 17, 2028. Interest on the Series D Senior Notes is payable semi-annually beginning on September 17, 2021 and continuing thereafter on March 17 and September 17 of each year until maturity. The principal balance is due when the notes mature on March 17, 2028. The full net proceeds from the Series D Senior Notes were used to pay off the Company’s $40 million Series B Senior Notes. At December 31, 2021, the principal balance outstanding under the Series D Senior Notes was $40.0 million.

2.35% Senior Notes Due in 2026

On June 16, 2021, the Company issued and sold to the purchasers $60 million aggregate principal amount of 2.35% Series E Notes (the "Series E Notes") pursuant to the terms of the Amended and Restated Note Purchase and Private Shelf Agreement, dated March 31, 2020 (the “Note Purchase Agreement”), among the Company, PGIM, Inc. and the noteholders party thereto.

The Series E Senior Notes are an unsecured obligation of the Company and bear interest at a rate of 2.35% per annum and mature on June 16, 2026. Interest on the Series E Senior Notes is payable semi-annually beginning on December 16, 2021 and continuing thereafter on June 16 and December 16 of each year until maturity. The principal balance is due when the notes mature on June 16, 2026. The full net proceeds from the Series E Senior Notes were used to pay down the Company’s credit facility. At December 31, 2021, the principal balance outstanding under the Series E Senior Notes was $60.0 million.

Among other restrictions, the Note Purchase Agreement, which has superseded in its entirety the Prior NPA, under which the Series C Senior Notes, Series D Senior Notes and Series E Senior Notes were sold, contains financial covenants requiring the Company to not (all defined terms used below not otherwise defined herein have the meaning assigned to such terms in the Note Purchase Agreement):

•

Permit the Consolidated Fixed Charge Coverage Ratio of EBITDA to fixed charges as of the end of any fiscal quarter to be less than 2.50 to 1. At December 31, 2021, the actual ratio was 4.08 to 1.

•

Permit the Consolidated Leverage Ratio of funded debt to EBITDA at any time during any period of four consecutive quarters to be greater than 2.75 to 1. At December 31, 2021, the actual ratio was 1.73 to 1.

At December 31, 2021, 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.

- 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

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+ Details

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 6. INCOME TAXES

Income before provision (benefit) for income taxes consisted of the following:

(in thousands)	Year Ended December 31,
	2021		2020		2019
U.S.	$	121,660	$	131,898	$	129,045
Foreign		96		146		80
	$	121,756	$	132,044	$	129,125

The provision (benefit) for income taxes consisted of the following:

(in thousands)	Year Ended December 31,
	2021			2020			2019
Current:
U.S. Federal	$	(1,692	)	$	23,975		$	11,744
State		5,360			6,545			7,353
Foreign		2,035			1,733			1,616
		5,703			32,253			20,713
Deferred:
U.S. Federal		23,433			(755	)		10,719
State		2,896			(1,424	)		895
Foreign		19			(14	)		(8	)
		26,348			(2,193	)		11,606
Total	$	32,051		$	30,060		$	32,319

The reconciliation of the U.S. federal statutory tax rate to the Company’s effective tax rate is as follows:

	Year Ended December 31,
	2021			2020			2019
U.S. federal statutory rate		21.0	%		21.0	%		21.0	%
State taxes, net of federal benefit		5.1			4.7			5.0
State deferred tax apportionment change, net of federal benefit		1.6			(1.6	)		0.1
Valuation allowance		0.0			0.0			0.0
Share-based compensation		(2.1	)		(1.4	)		(1.6	)
Enactment of the Tax Cuts and Jobs Act		0.0			(0.3	)		(0.1	)
Other		0.7			0.4			0.6
		26.3	%		22.8	%		25.0	%

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,
	2021		2020
Deferred tax liabilities:
Accelerated depreciation	$	244,141	$	217,125
Prepaid costs currently deductible		6,069		5,039
Other		6,553		5,970
Total deferred tax liabilities		256,763		228,134
Deferred tax assets:
Accrued costs not yet deductible		11,010		9,200
Allowance for doubtful accounts		548		536
Deferred revenues		219		—
Share-based compensation		2,561		2,321
Total deferred tax assets, net of valuation allowance of $0.2 million in 2021 and 2020		14,338		12,057
Deferred income taxes, net	$	242,425	$	216,077

In December 2016, the Company decided to exit the Bangalore, India branch operations of its TRS-RenTelco electronics division. The wind down of operations in India began in 2017. As a result, a valuation allowance was recorded against the deferred tax assets that resulted primarily from accumulated net operating loss carry forwards in India that management estimated the benefit of which will not be realized. As of December 31, 2021, the Company’s foreign net operating losses for tax purposes were $0.6 million. If not realized, these carry forwards will begin to expire in 2023.

For income tax purposes, deductible compensation related to share-based awards is based on the value of the award when realized, which may be different than the compensation expense recognized by the company for financial statement purposes which is based on the award value on the date of grant. The difference between the value of the award upon grant, and the value of the award when

ultimately realized, creates either additional tax expense or benefit. In 2021, 2020 and 2019 exercise of share-based awards by employees resulted in an excess tax benefit of $2.5 million, $1.9 million and $2.1 million, respectively.

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, 2021 and 2020. In addition, there have been no material changes in unrecognized benefits during 2021, 2020 and 2019.

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.

Our income tax returns are subject to examination by federal, state and foreign tax authorities. 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. 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 2017.

The Company recognizes interest and penalties related to unrecognized tax benefits in the provision (benefit) for income taxes in the accompanying Consolidated Statements of Income for all periods presented. Such interest and penalties were not significant for the years ended December 31, 2021, 2020 and 2019.

- 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/disclosureRef
-Publisher FASB
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+ Details

Benefit Plans

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Benefit Plans

NOTE 7. BENEFIT PLANS

Stock Plans

The Company adopted the 2016 Stock Incentive Plan (the “2016 Plan”), effective June 8, 2016, under which 2,000,000 shares of the common stock of the Company, plus the number of shares that remain available for grants of awards under the Company's 2007 Stock Option Plan (the “2007 Plan”) become available as a result of forfeiture, termination, or expiration of awards previously granted under the 2007 Plan, were reserved for the grant of equity awards to its employees, directors and consultants. The equity awards have a maximum term of 7 years at an exercise price of not less than 100% of the fair market value of the Company's common stock on the date the equity award is granted. The 2016 Plan replaced the 2007 Plan.

The 2016 Plan provides for the grant of awards in the form of stock options, stock appreciation rights, restricted stock units (“RSUs”), the vesting of which may be performance-based or service-based, and other rights and benefits. Each RSU issued reduces the number of shares of the Company’s common stock available for grant under the 2016 Plan by two shares. There were no modifications to the 2016 Plan and no awards classified as liabilities in the year ended December 31, 2021.

For the years ended December 31, 2021, 2020 and 2019, the share-based compensation expense was $7.7 million, $5.5 million and $5.9 million, respectively, before provision for income taxes. The Company recorded a tax benefit of approximately $2.1 million, $1.5 million and $1.6 million, respectively, related to the aforementioned share-based compensation expenses. There was no capitalized share-based compensation expense in the years ended December 31, 2021, 2020 and 2019.

Stock Options

As of December 31, 2021, a cumulative total of 8,458,600 shares subject to options have been granted with exercise prices ranging from $3.47 to $40.37. Of these, options have been exercised for the purchase of 6,511,238 shares, while options for 1,672,732 shares have been terminated, and options for 274,630 shares with exercise prices ranging from $24.60 to $40.37 remained outstanding under the stock plans. These options vest over five years and expire seven years after grant. To date, no options have been issued to any of the Company’s non-employee advisors. As of December 31, 2021, 1,414,352 shares remained available for issuance of awards under the stock plans.

A summary of the Company’s option activity and related information for the three years ended December 31, 2021 is as follows:

	Number of options			Weighted- average price		Weighted- average remaining contractual term (in years)		Aggregate intrinsic value (in millions)
Balance at December 31, 2018		845,600		$	28.14
Options granted		—			—
Options exercised		(260,860	)		29.55
Options cancelled/forfeited/expired		(4,600	)		30.59
Balance at December 31, 2019		580,140			29.57
Options granted		—			—
Options exercised		(163,670	)		30.22
Options cancelled/forfeited/expired		(7,060	)		28.95
Balance at December 31, 2020		409,410			29.33
Options granted		—			—
Options exercised		(133,020	)		28.57
Options cancelled/forfeited/expired		(1,760	)		34.57
Balance at December 31, 2021		274,630		$	29.66		1.69	$	13.9
Exercisable at December 31, 2021		261,250		$	29.39		1.66	$	13.3
Expected to vest after December 31, 2021		13,038		$	34.97		2.29	$	0.6

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 exercised and sold under the Company’s stock option plans was $16.2 million, $11.9 million and $9.1 million for the years ended December 31, 2021, 2020 and 2019, respectively, determined as of the date of option exercise. As of December 31, 2021, there was approximately $0.1 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 less than one year.

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, 2021:

	Options Outstanding						Options Exercisable
Exercise price	Number outstanding at December 31, 2021		Weighted-average remaining contractual life (Years)		Weighted-average grant date value		Number exercisable at December 31, 2021		Weighted-average grant date value
$20 – 25		137,585		1.17	$	24.60		137,585	$	24.60
$25 – 30		—		—	$	—		—	$	—
$30 – 35		129,225		2.22	$	34.47		116,865	$	34.46
$35 – 40		6,800		2.00	$	39.19		6,800	$	39.19
$40 – 45		1,020		2.67	$	40.37		—	$	40.37
$20 – 45		274,630		1.69	$	29.66		261,250	$	29.39

The Company utilizes the Black-Scholes option-pricing model to estimate the fair value of share-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 share-based compensation amounts recognized in the Consolidated Statements of Income.

No options were granted in 2021, 2020 and 2019.

Restricted Stock Units

The following table summarizes the activity of the Company’s RSUs, which includes service-based and performance-based awards, for the three years ended December 31, 2021:

				Weighted-		Aggregate
				average		intrinsic
	Number			grant date		value
	of shares			fair value		(in millions)
Balance at December 31, 2018		139,510		$	44.73
RSUs granted		83,440			59.98
RSUs vested		(25,862	)		48.31
RSUs cancelled/forfeited/expired		(840	)		59.84
Balance at December 31, 2019		196,248			50.68
RSUs granted		126,540			50.99
RSUs vested		(89,225	)		43.42
RSUs cancelled/forfeited/expired		(7,593	)		57.93
Balance at December 31, 2020		225,970			57.06
RSUs granted		116,326			72.75
RSUs vested		(116,242	)		53.32
RSUs cancelled/forfeited/expired		(8,646	)		52.78
Balance at December 31, 2021		217,408		$	67.63	$	17.4

Performance-based RSUs issued prior to 2018 vest over five years, with 60% of the shares immediately vesting after three years when the performance criteria has been determined to have been met and 20% of the remaining shares vesting annually at the anniversary of the performance determination date, subject to continuous employment of the participant. The performance-based RSU grants issued in 2018 and thereafter vest after three years with 100% of the shares vesting immediately when performance criteria has been determined to have been met. There were 116,989 performance-based RSUs expected to vest as of December 31, 2021. Service based RSUs issued to the Company’s directors generally vest over twelve to fourteen months. Service based RSUs issued to the Company’s management vest over three years. There were 111,631 service-based RSUs expected to vest as of December 31, 2021. No forfeitures are currently expected. The total fair value of RSUs that vested during the years ended December 31, 2021, 2020 and 2019 based on the weighted average grant date values was $6.2 million, $3.9 million and $1.2 million, respectively.

Share-based compensation expense for RSUs for the year ended December 31, 2021, 2020 and 2019 was $7.3 million, $4.6 million and $4.7, respectively. As of December 31, 2021, the total unrecognized compensation expense related to unvested RSUs was $14.8 million and is expected to be recognized over a weighted-average period of 1.4 years.

Employee Stock Ownership and 401(k) Plans

The McGrath RentCorp Employee Stock Ownership and 401(k) Plan (the “KSOP”) provides that each participant may annually contribute an elected percentage of his or her salary, not to exceed the statutory limit. Each employee who has at least two months of service with the Company and is 21 years or older, is eligible to participate in the KSOP. The Company, at its discretion, may make matching contributions. Contributions are expensed in the year approved by the Board of Directors. Dividends on the Company’s stock held by the KSOP are treated as ordinary dividends and, in accordance with existing tax laws, are deducted by the Company in the year paid. For the year ended December 31, 2021 dividends deducted by the Company were $0.4 million, which resulted in a tax benefit of approximately $0.1 million in 2021.

At December 31, 2021, the KSOP held 245,780 shares, or 1% of the Company’s total common shares outstanding. These shares are included in basic and diluted earnings per share calculations.

Shareholders' Equity

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Shareholders' Equity

NOTE 8. SHAREHOLDERS’ EQUITY

The Company has in the past made purchases of shares of its common stock from time to time in over-the-counter market (NASDAQ) transactions, through privately negotiated, large block transactions and through a share repurchase plan, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. In August 2015, the Company’s Board of Directors authorized the Company to repurchase 2,000,000 shares of the Company's outstanding common stock (the “Repurchase Plan”). The amount and time of the specific repurchases are subject to prevailing market conditions, applicable legal requirements and other factors, including management’s discretion. All shares repurchased by the Company are canceled and returned to the status of authorized but unissued shares of common

stock. There can be no assurance that any authorized shares will be repurchased and the repurchase program may be modified, extended or terminated by the Board of Directors at any time. There were no shares of common stock repurchased during the twelve months ended December 31, 2021. There were 282,221 shares of common stock repurchased during the twelve months ended December 31, 2020 for the aggregate purchase price of $13.6 million or an average price of $48.25 per repurchased share. As of December 31, 2021, 1,309,805 shares remain authorized for repurchase under the Repurchase Plan.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

NOTE 9. 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,
2022	$	4,993
2023		3,170
2024		1,495
2025		532
2026		33
	$	10,223

Facility rent expense was $5.6 million in 2021, $3.7 million in 2020 and $3.9 million in 2019.

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. The Company records a provision for a liability when it believes that it is both probable that a liability has been incurred and the amount can be reasonably estimated. Significant judgment is required to determine both probability and the estimated amount. The Company reviews these provisions at least quarterly and adjusts these provisions to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and updated information. Litigation is inherently unpredictable and is subject to significant uncertainties, some of which are beyond the Company’s control. In the opinion of management, there was not at least a reasonable possibility that the ultimate amount of liability not covered by insurance, if any, under any pending litigation and claims, individually or in the aggregate, will have a material adverse effect on the financial position or operating results of the Company.

The Company’s health plans are self-funded high deductible plans with annual stop-loss insurance of $200,000 per claim. Beginning in 2019, the Company’s workers compensation insurance is underwritten by an insurance company with no stop-loss value and $350,000 for prior claim years. Insurance providers are responsible for making claim payments that exceed these amounts on an individual claim basis. In addition, the Company has stop loss insurance that pays for claim payments made during a twelve month coverage period that exceeds certain specified thresholds in the aggregate. The Company records an expense when health and workers compensation claim payments are made and accrues for the portion of claims incurred, but not yet paid at period end. The Company makes these accruals based upon a combination of historical claim payments, loss development experience and actuarial estimates. A high degree of judgment is required in developing the underlying assumptions and the resulting amounts to be accrued. In addition, our assumptions will change as the Company’s loss experience develops. All of these factors have the potential for impacting the amounts previously accrued and the Company may be required to increase or decrease the amounts previously accrued. At December 31, 2021 and 2020, accruals for the Company’s health and workers’ compensation high deductible plans were $2.5 million and $2.2 million, respectively.

Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

NOTE 10. INTANGIBLE ASSETS

Intangible assets consist of the following:

(dollar amounts in thousands)	Estimated useful life in years	Average remaining life in years		Cost		Accumulated amortization			Net book value
December 31, 2021
Customer relationships	8 to 11	7.3		$	50,285	$	(12,991	)	$	37,294
Non-compete agreements	5		4.2		3,296		(499	)	$	2,797
Customer backlog	0.5	—			1,900		(1,900	)	$	—
Trade name	8		7.3		1,200		(113	)	$	1,087
Total amortizing					56,681		(15,503	)		41,178
Trade name - non-amortizing	Indefinite				5,871		—		$	5,871
Total				$	62,552	$	(15,503	)	$	47,049

December 31, 2020
Customer relationships	11	6.8		$	10,644	$	(9,510	)	$	1,134
Non-compete agreements	5	3.6			157		(44	)	$	113
Total amortizing					10,801		(9,554	)		1,247
Trade name - non-amortizing	Indefinite				5,871		—		$	5,871
Total				$	16,672	$	(9,554	)	$	7,118

Intangible assets with finite useful lives are amortized over their respective useful lives. Amortization expense in the years ended December 31, 2021, 2020 and 2019 was $5.9 million, $0.2 million and $0.9 million, respectively. Based on the carrying values at December 31, 2021 and assuming no subsequent impairment of the underlying assets, the annual amortization is expected to be $5.9 million in 2022 through 2025, $5.4 million in 2026 and $5.2 million in 2027.

Related Party Transactions

12 Months Ended

Dec. 31, 2021

Related Party Transactions

NOTE 11. RELATED PARTY TRANSACTIONS

There were no significant related party transactions in the years ended December 31, 2021 and 2020, or amounts owed to related parties at such dates.

Segment Reporting

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Reporting

NOTE 12. 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. 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, 2021, 2020 and 2019, for the Company’s reportable segments is shown in the following tables:


(dollar amounts in thousands)	Mobile Modular			TRS- RenTelco			Adler Tanks			Enviroplex ¹			Consolidated
Year Ended December 31,
2021
Rental revenues	$	220,569		$	113,419		$	56,025		$	—		$	390,013
Rental related services revenues		72,330			2,880			22,851		—				98,061
Sales and other revenues		70,417			23,895			3,366			31,081			128,759
Total revenues		363,316			140,194			82,242			31,081			616,833
Depreciation of rental equipment		28,071			47,374			16,442		—				91,887
Gross profit		176,040			61,394			33,699			9,888			281,021
Selling and administrative expenses		92,603			25,152			25,542			5,303			148,600
Income from operations		83,436			36,243			8,157			4,585			132,421
Interest expense (income) allocation		6,433			2,270			2,211			(459	)		10,455
Income before provision for income taxes		77,003			33,763			5,946			5,044			121,756
Adjusted EBITDA		128,044			85,723			27,961			4,844			246,572
Rental equipment acquisitions		188,392			61,097			191		—				249,680
Accounts receivable, net (period end)		112,295			22,115			16,378			8,711			159,499
Rental equipment, at cost (period end)		1,040,094			361,391			309,908		—				1,711,393
Rental equipment, net book value (period end)		751,537			161,900			151,787		—				1,065,224
Utilization (period end) ²		76.4	%		62.9	%		47.6	%
Average utilization ²		76.2	%		67.0	%		45.4	%

Segment Data (Continued) (dollar amounts in thousands)	Mobile Modular			TRS- RenTelco			Adler Tanks			Enviroplex¹			Consolidated
Year Ended December 31,
2020
Rental revenues	$	188,719		$	109,083		$	53,988		$	—		$	351,790
Rental related services revenues		67,527			3,080			21,786		—				92,393
Sales and other revenues		65,278			28,648			1,708			32,737			128,371
Total revenues		321,524			140,811			77,482			32,737			572,554
Depreciation of rental equipment		22,967			46,472			16,427		—				85,866
Gross profit		155,874			60,864			34,079			12,929			263,746
Selling and administrative expenses		68,470			24,306			24,764			5,453			122,993
Income from operations		87,404			36,558			9,315			7,476			140,753
Interest expense (income) allocation		5,104			2,133			2,107			(557	)		8,787
Income before benefit for income taxes		82,300			34,503			7,208			8,033			132,044
Adjusted EBITDA		119,202			85,082			29,010			7,729			241,023
Rental equipment acquisitions		39,078			42,588			2,541		—				84,207
Accounts receivable, net (period end)		81,640			22,735			13,655			5,286			123,316
Rental equipment, at cost (period end)		882,115			333,020			315,706		—				1,530,841
Rental equipment, net book value (period end)		611,590			156,536			169,990		—				938,116
Utilization (period end) ²		76.0	%		67.4	%		39.8	%
Average utilization ²		77.2	%		66.2	%		44.6	%

2019
Rental revenues	$	182,316		$	103,704		$	67,869		$	—		$	353,889
Rental related services revenues		69,395			3,260			28,383		—				101,038
Sales and other revenues		49,299			24,519			1,671			39,814			115,303
Total revenues		301,010			131,483			97,923			39,814			570,230
Depreciation of rental equipment		22,071			41,948			16,372		—				80,391
Gross profit		143,618			60,748			47,014			14,785			266,165
Selling and administrative expenses		65,699			24,645			29,321			5,128			124,793
Income from operations		77,919			36,103			17,693			9,657			141,372
Interest expense (income) allocation		7,946			1,970			3,436			(1,021	)		12,331
Income before benefit for income taxes		69,973			34,217			14,257			10,678			129,125
Adjusted EBITDA		107,166			80,772			38,993			9,892			236,823
Rental equipment acquisitions		75,433			89,759			4,826		—				170,018
Accounts receivable, net (period end)		83,182			23,788			17,281			3,848			128,099
Rental equipment, at cost (period end)		868,807			335,343			316,261		—				1,520,411
Rental equipment, net book value (period end)		610,048			172,413			185,039		—				967,500
Utilization (period end) ²		79.1	%		64.5	%		48.4	%
Average utilization ²		79.2	%		66.2	%		54.7	%

1Gross Enviroplex sales revenues were $32,095, $34,014 and $39,814 in 2021, 2020 and 2019, respectively. There were $1,014 and $1,277 inter-segment sales to Mobile Modular in 2021 and 2020, which have been eliminated in consolidation. There were no inter-segment sales in 2019.

2Utilization 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 2021, 2020 and 2019. Revenue from foreign country customers accounted for 4%, 4% and 5% of the Company’s revenues for the same periods, respectively.

- 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/disclosureRef
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-Paragraph 21
-Subparagraph (b)
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Acquisitions

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Acquisitions

NOTE 13. ACQUISITIONS

On May 17, 2021, the Company completed the purchase of substantially all of the assets of Design Space Modular Buildings PNW, LP (“Design Space”) for $267.3 million in cash consideration on the closing date. Design Space provides modular buildings and portable storage containers rental and sale solutions to customers in the West and Pacific Northwest states in the U.S. The acquisition was accounted for as a purchase of a “business” in accordance with criteria in Accounting Standards Codification (ASC) 805 – “Business Combinations” using the purchase method of accounting. Under the purchase method of accounting, the total purchase price is assigned to tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values on the closing date. The excess of the purchase price over those fair values is recorded as goodwill. As part of the Design Space acquisition, the Company entered into a non-compete agreement with the sellers. The cash consideration allocated to the non-compete agreement totaled $2.5 million. This intangible asset was not considered part of the purchase price consideration and included in the table below as the sellers subject to the non-compete agreement did not continue with the Company. The financial results of Design Space were a part of the Mobile Modular segment since May 17, 2021, including $1.7 million of transaction costs.

On April 1, 2021 the Company completed the purchase of assets of GRS Holding LLC, DBA Kitchens To Go (“Kitchens To Go”) for $18.3 million in cash consideration. Kitchens To Go provides interim and permanent modular kitchen solutions for foodservice providers that require flexible facilities to continue or expand operations. The acquisition was accounted for as a purchase of a “business” in accordance with criteria in ASC 805 using the purchase method of accounting. The financial results of Kitchens To Go were a part of the Mobile Modular segment since April 1, 2021, including $0.3 million of transaction costs.

The following tables summarize the purchase price allocations reflecting estimated fair values of assets acquired and liabilities assumed in the Design Space and Kitchens To Go acquisitions, with excess amounts allocated to goodwill. The valuation of intangible assets acquired is based on certain valuation assumptions including cash flow projections, discount rates, contributory asset charges and other valuation model inputs. The valuation of tangible long-lived assets acquired is dependent upon various analyses including an analysis of the condition and estimated remaining economic lives of the assets acquired.

Design Space:

(dollar amounts in thousands)
Rental equipment	$	116,272
Intangible assets:
Goodwill		101,874
Customer relationships		37,900
Non-compete		2,500
Customer backlog		1,600
Accounts receivable		12,025
Property, plant and equipment		4,139
Prepaid expenses and other assets		5,366
Accounts payable and accrued liabilities		(11,613	)
Deferred income		(2,784	)
Total purchase price	$	267,279

Kitchens To Go:

(dollar amounts in thousands)
Rental equipment	$	12,853
Intangible assets:
Goodwill		2,322
Customer relationships		1,700
Trade name		1,200
Non-compete		600
Customer backlog		300
Accounts receivable		212
Property, plant and equipment		365
Prepaid expenses and other assets		1,199
Accounts payable and accrued liabilities		(1,659	)
Deferred income		(747	)
Total purchase price	$	18,345

The value assigned to identifiable intangible assets have been determined based on discounted estimated future cash flows associated with such assets to their present value. The combined acquired goodwill of $104,196 reflects the strategic fit of Design Space and Kitchens to Go with the Company’s modular business operations. The Company will amortize the acquired customer relationships, tradename, non-compete and customer backlog over their expected useful lives of 8 years, 8 years, 5 years and 6 months, respectively. Goodwill is expected to have an indefinite life and will be subject to future impairment testing. The goodwill is deductible for tax purposes over 15 years.

The following unaudited pro forma financial information shows the combined results of operations of the Company, Design Space and Kitchens To Go as if the acquisitions occurred as of the beginning of the periods presented. The pro forma results include the effects of the amortization of the purchased intangible assets and depreciation expense of acquired rental equipment valuation step up, interest expense on the debt incurred to finance the acquisitions. A pro forma adjustment has been made to reflect the income taxes that would have been recorded at the combined federal and state statutory rate of 28% on the acquisitions’ combined net income. The pro forma results for the year ended December 31, 2020 have been adjusted to include transaction related costs. This pro forma data is presented for informational purposes only and does not purport to be indicative of the results of the future operations or the results that would have occurred had the acquisitions taken place in the periods noted below:

	(Unaudited)
	Year Ended December 31,
(dollar amounts in thousands, except for per share amounts)	2021		2020
Pro-forma total revenues	$	647,866	$	670,207
Pro-forma net income	$	93,065	$	112,029
Pro-forma basic earnings per share	$	3.84	$	4.64
Pro-forma diluted earnings per share	$	3.80	$	4.57

Design Space and Kitchens To Go
Actual total revenues	$	39,056
Actual net income	$	2,671
Actual basic earnings per share	$	0.11
Actual diluted earnings per share	$	0.11

On December 31, 2021 the Company completed the purchase of the assets of Titan Storage Containers, LLC (“Titan”) for $6.6 million in cash consideration on the closing date and $0.3 million remaining liability to the seller. The acquisition was accounted for as a purchase of “assets” in accordance with criteria in ASC 805 and the initial assessment of the fair value of the purchased assets was allocated primarily to rental equipment totaling $6.2 million and rolling stock assets totaling $0.8 million, partially offset by accrued liabilities of $0.2 million. The rolling stock assets include delivery trucks, delivery trailers, trucks and forklifts. Supplemental pro forma prior year information has not been provided as the historical financial results of Titan were not significant. Incremental transaction costs associated with the asset purchase were not significant.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Organization

Principles of Consolidation

The consolidated financial statements include the accounts of McGrath RentCorp and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

Revenue Recognition

Other revenue is recognized when earned and primarily includes interest income on sales-type leases, rental income on facility leases 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

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
Blast resistant and kitchen modules		20 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		3 to 20 years, no residual value

Costs of Rental Related Services

Impairment of Long-Lived Assets

Other Direct Costs of Rental Operations

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

Property, Plant and Equipment

Property, plant and equipment consist of the following:

(dollar amounts in thousands)	Estimated useful life		December 31,
	in years		2021			2020
Land	Indefinite		$	54,428		$	54,429
Land improvements	20 – 50			59,633			59,249
Buildings		30		33,781			32,306
Furniture, office equipment and software	3 – 10			37,965			36,882
Vehicles and machinery	5 – 25			44,560			43,101
				230,367			225,967
Less: accumulated depreciation				(98,333	)		(91,514	)
				132,034			134,453
Construction in progress				3,291			1,757
			$	135,325		$	136,210

Capitalized Software Costs

Advertising Costs

Advertising costs are expensed as incurred. Total advertising expenses were $5.1 million, $3.9 million and $3.6 million for the years ended December 31, 2021, 2020 and 2019.

Income Taxes

Goodwill and Intangible Assets

Earnings Per Share

(in thousands)	Year Ended December 31,
	2021		2020		2019
Weighted-average common stock for calculating basic earnings per share		24,220		24,157		24,250
Effect of potentially dilutive securities from equity-based compensation		295		374		373
Weighted-average common stock for calculating diluted earnings per share		24,515		24,531		24,623

In 2021, 2020 and 2019, there were no shares having an anti-dilutive effect requiring exclusion from the computation of diluted earnings per share.

Accounts Receivable and Concentration of Credit Risk

The allowance for doubtful accounts activity was as follows:

(in thousands)	2021			2020
Beginning balance, January 1	$	2,100		$	1,883
Provision for doubtful accounts		451			1,343
Acquired Design Space Reserve (see Note 13)		125			—
Write-offs, net of recoveries		(551	)		(1,126	)
Ending balance, December 31	$	2,125		$	2,100

Net investment in sales-type leases

Fair Value of Financial Instruments

Foreign Currency Transactions and Translation

Share-Based Compensation

Use of Estimates

Income Tax Position

Segment Reporting

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Estimated Useful Lives and Residual Values of Company's Rental Equipment

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
Blast resistant and kitchen modules		20 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		3 to 20 years, no residual value

Property, Plant and Equipment

Property, plant and equipment consist of the following:

(dollar amounts in thousands)	Estimated useful life		December 31,
	in years		2021			2020
Land	Indefinite		$	54,428		$	54,429
Land improvements	20 – 50			59,633			59,249
Buildings		30		33,781			32,306
Furniture, office equipment and software	3 – 10			37,965			36,882
Vehicles and machinery	5 – 25			44,560			43,101
				230,367			225,967
Less: accumulated depreciation				(98,333	)		(91,514	)
				132,034			134,453
Construction in progress				3,291			1,757
			$	135,325		$	136,210

Weighted-Average Common Stock Used to Calculate Basic and Diluted Earnings per Share

The table below presents the weighted-average common stock used to calculate basic and diluted earnings per share:

(in thousands)	Year Ended December 31,
	2021		2020		2019
Weighted-average common stock for calculating basic earnings per share		24,220		24,157		24,250
Effect of potentially dilutive securities from equity-based compensation		295		374		373
Weighted-average common stock for calculating diluted earnings per share		24,515		24,531		24,623

Summary of Allowance for Doubtful Accounts Activity

The allowance for doubtful accounts activity was as follows:

(in thousands)	2021			2020
Beginning balance, January 1	$	2,100		$	1,883
Provision for doubtful accounts		451			1,343
Acquired Design Space Reserve (see Note 13)		125			—
Write-offs, net of recoveries		(551	)		(1,126	)
Ending balance, December 31	$	2,125		$	2,100

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Summary of Supplemental Cash flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:

(in thousands)	Year Ended December 31,
	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,171	$	3,683

Right of use assets obtained in exchange for lease obligations:
Operating leases	$	8,116	$	1,885

Summary of Maturities of Operating Lease Liabilities

As of December 31, 2021, maturities of operating lease liabilities were as follows:

(in thousands)
Year ended December 31,
2022	$	5,702
2023		3,631
2024		1,613
2025		572
2026		33
Thereafter		—
Total lease payments		11,551
Less: imputed interest		(555	)
	$	10,996

Summary of Maturities of Operating Lease Payments

As of December 31, 2021, maturities of operating lease payments to be received in 2022 and thereafter were as follows:

(in thousands)
Year Ended December 31,
2022	$	101,446
2023		30,782
2024		10,761
2025		3,269
2026		1,414
Thereafter		180
	$	147,852

Minimum Lease Payments Receivable and Net Investment Included in Accounts Receivable for Leases

The minimum lease payments receivable and the net investment are included in Accounts receivable on the Company’s Consolidated Balance Sheet for such leases, which were as follows:

(in thousands)	December 31, 2021
Gross minimum lease payments receivable	$	2,392
Less – unearned interest		(184	)
Net investment in finance lease receivables	$	2,208

Future Minimum Lease Payments under Non-Cancelable Finance Leases

As of December 31, 2021, the future minimum lease payments under non-cancelable finance leases to be received in 2022 and thereafter were as follows:

(in thousands)
Year Ended December 31,
2022	$	1,860
2023		270
2024		78
2025		—
Total minimum future lease payments to be received	$	2,208

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2021

Disaggregation Of Revenue [Abstract]

Summary of Disaggregates the Company's Revenue by Lease and Non Lease

(in thousands)	Mobile Modular		TRS- RenTelco		Adler Tanks		Enviroplex		Consolidated
Year Ended December 31,
2021
Leasing	$	269,175	$	116,769	$	56,654	$	—	$	442,598
Non-lease:
Rental related services		25,034		2,469		22,487		—		49,990
Sales		68,982		19,788		2,930		31,081		122,781
Other		125		1,168		171		—		1,464
Total non-lease		94,141		23,425		25,588		31,081		174,235
Total revenues	$	363,316	$	140,194	$	82,242	$	31,081	$	616,833

2020
Leasing	$	235,003	$	112,210	$	54,710	$	—	$	401,923
Non-lease:
Rental related services		22,576		2,618		21,320		—		46,514
Sales		63,863		24,461		1,386		32,737		122,447
Other		82		1,522		66		—		1,670
Total non-lease		86,521		28,601		22,772		32,737		170,631
Total revenues	$	321,524	$	140,811	$	77,482	$	32,737	$	572,554

2019
Leasing	$	234,032	$	108,044	$	68,917	$	—	$	410,993
Non-lease:
Rental related services		18,964		2,599		27,634		—		49,197
Sales		47,045		18,995		1,266		39,814		107,120
Other		969		1,845		106		—		2,920
Total non-lease		66,978		23,439		29,006		39,814		159,237
Total revenues	$	301,010	$	131,483	$	97,923	$	39,814	$	570,230

Notes Payable (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Components of Notes Payable

Notes payable consists of the following:

(in thousands)	December 31,
	2021			2020
Unsecured revolving lines of credit	$	266,500		$	122,771
3.68% Series B senior notes due in 2021		—			40,000
3.84% Series C senior notes due in 2022		60,000			60,000
2.35% Series E senior notes due in 2026		60,000			—
2.57% Series D senior notes due in 2028		40,000			—
		426,500			222,771
Unamortized debt issuance cost		(49	)		(17	)
	$	426,451		$	222,754

Schedule of Future Minimum Payments under Unsecured Revolving Lines of Credit 3.84% Senior Notes, 2.35% Senior Notes and 2.57% Senior Notes

(in thousands)
Year Ended December 31,
2022	$	60,000
2023		—
2024		—
2025		266,500
2026		60,000
Thereafter		40,000
	$	426,500

Schedule of Information Related to Lines of Credit

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

(dollar amounts in thousands)	Year Ended December 31,
	2021			2020
Maximum amount outstanding	$	389,740		$	199,471
Average amount outstanding	$	239,134		$	170,075
Weighted average interest rate, during the period		2.07	%		2.11	%
Prime interest rate, end of period		3.25	%		3.25	%

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income Before Provision (Benefit) for Income Taxes

Income before provision (benefit) for income taxes consisted of the following:

(in thousands)	Year Ended December 31,
	2021		2020		2019
U.S.	$	121,660	$	131,898	$	129,045
Foreign		96		146		80
	$	121,756	$	132,044	$	129,125

Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes consisted of the following:

(in thousands)	Year Ended December 31,
	2021			2020			2019
Current:
U.S. Federal	$	(1,692	)	$	23,975		$	11,744
State		5,360			6,545			7,353
Foreign		2,035			1,733			1,616
		5,703			32,253			20,713
Deferred:
U.S. Federal		23,433			(755	)		10,719
State		2,896			(1,424	)		895
Foreign		19			(14	)		(8	)
		26,348			(2,193	)		11,606
Total	$	32,051		$	30,060		$	32,319

Reconciliation of U.S. Federal Statutory Tax Rate to Company's Effective Tax Rate

The reconciliation of the U.S. federal statutory tax rate to the Company’s effective tax rate is as follows:

	Year Ended December 31,
	2021			2020			2019
U.S. federal statutory rate		21.0	%		21.0	%		21.0	%
State taxes, net of federal benefit		5.1			4.7			5.0
State deferred tax apportionment change, net of federal benefit		1.6			(1.6	)		0.1
Valuation allowance		0.0			0.0			0.0
Share-based compensation		(2.1	)		(1.4	)		(1.6	)
Enactment of the Tax Cuts and Jobs Act		0.0			(0.3	)		(0.1	)
Other		0.7			0.4			0.6
		26.3	%		22.8	%		25.0	%

Deferred Income Taxes Related to Temporary Differences between Tax Bases of Assets and Liabilities

(in thousands)	December 31,
	2021		2020
Deferred tax liabilities:
Accelerated depreciation	$	244,141	$	217,125
Prepaid costs currently deductible		6,069		5,039
Other		6,553		5,970
Total deferred tax liabilities		256,763		228,134
Deferred tax assets:
Accrued costs not yet deductible		11,010		9,200
Allowance for doubtful accounts		548		536
Deferred revenues		219		—
Share-based compensation		2,561		2,321
Total deferred tax assets, net of valuation allowance of $0.2 million in 2021 and 2020		14,338		12,057
Deferred income taxes, net	$	242,425	$	216,077

Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Company's Option Activity

A summary of the Company’s option activity and related information for the three years ended December 31, 2021 is as follows:

	Number of options			Weighted- average price		Weighted- average remaining contractual term (in years)		Aggregate intrinsic value (in millions)
Balance at December 31, 2018		845,600		$	28.14
Options granted		—			—
Options exercised		(260,860	)		29.55
Options cancelled/forfeited/expired		(4,600	)		30.59
Balance at December 31, 2019		580,140			29.57
Options granted		—			—
Options exercised		(163,670	)		30.22
Options cancelled/forfeited/expired		(7,060	)		28.95
Balance at December 31, 2020		409,410			29.33
Options granted		—			—
Options exercised		(133,020	)		28.57
Options cancelled/forfeited/expired		(1,760	)		34.57
Balance at December 31, 2021		274,630		$	29.66		1.69	$	13.9
Exercisable at December 31, 2021		261,250		$	29.39		1.66	$	13.3
Expected to vest after December 31, 2021		13,038		$	34.97		2.29	$	0.6

Options Outstanding and Options Exercisable by Exercise Price with Weighted-Average Remaining Contractual Life for Options Outstanding and Weighted-Average Exercise Price

	Options Outstanding						Options Exercisable
Exercise price	Number outstanding at December 31, 2021		Weighted-average remaining contractual life (Years)		Weighted-average grant date value		Number exercisable at December 31, 2021		Weighted-average grant date value
$20 – 25		137,585		1.17	$	24.60		137,585	$	24.60
$25 – 30		—		—	$	—		—	$	—
$30 – 35		129,225		2.22	$	34.47		116,865	$	34.46
$35 – 40		6,800		2.00	$	39.19		6,800	$	39.19
$40 – 45		1,020		2.67	$	40.37		—	$	40.37
$20 – 45		274,630		1.69	$	29.66		261,250	$	29.39

Summary of Company's Restricted Stock Units Activity

The following table summarizes the activity of the Company’s RSUs, which includes service-based and performance-based awards, for the three years ended December 31, 2021:

				Weighted-		Aggregate
				average		intrinsic
	Number			grant date		value
	of shares			fair value		(in millions)
Balance at December 31, 2018		139,510		$	44.73
RSUs granted		83,440			59.98
RSUs vested		(25,862	)		48.31
RSUs cancelled/forfeited/expired		(840	)		59.84
Balance at December 31, 2019		196,248			50.68
RSUs granted		126,540			50.99
RSUs vested		(89,225	)		43.42
RSUs cancelled/forfeited/expired		(7,593	)		57.93
Balance at December 31, 2020		225,970			57.06
RSUs granted		116,326			72.75
RSUs vested		(116,242	)		53.32
RSUs cancelled/forfeited/expired		(8,646	)		52.78
Balance at December 31, 2021		217,408		$	67.63	$	17.4

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Minimum Payments under Leases, Exclusive of Property Taxes and Insurance

Minimum payments under these leases, exclusive of property taxes and insurance, are as follows:

(in thousands)
Year Ended December 31,
2022	$	4,993
2023		3,170
2024		1,495
2025		532
2026		33
	$	10,223

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

Intangible assets consist of the following:

(dollar amounts in thousands)	Estimated useful life in years	Average remaining life in years		Cost		Accumulated amortization			Net book value
December 31, 2021
Customer relationships	8 to 11	7.3		$	50,285	$	(12,991	)	$	37,294
Non-compete agreements	5		4.2		3,296		(499	)	$	2,797
Customer backlog	0.5	—			1,900		(1,900	)	$	—
Trade name	8		7.3		1,200		(113	)	$	1,087
Total amortizing					56,681		(15,503	)		41,178
Trade name - non-amortizing	Indefinite				5,871		—		$	5,871
Total				$	62,552	$	(15,503	)	$	47,049

December 31, 2020
Customer relationships	11	6.8		$	10,644	$	(9,510	)	$	1,134
Non-compete agreements	5	3.6			157		(44	)	$	113
Total amortizing					10,801		(9,554	)		1,247
Trade name - non-amortizing	Indefinite				5,871		—		$	5,871
Total				$	16,672	$	(9,554	)	$	7,118

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Summarized Financial Information for Company's Reportable Segments

Summarized financial information for the years ended December 31, 2021, 2020 and 2019, for the Company’s reportable segments is shown in the following tables:


(dollar amounts in thousands)	Mobile Modular			TRS- RenTelco			Adler Tanks			Enviroplex ¹			Consolidated
Year Ended December 31,
2021
Rental revenues	$	220,569		$	113,419		$	56,025		$	—		$	390,013
Rental related services revenues		72,330			2,880			22,851		—				98,061
Sales and other revenues		70,417			23,895			3,366			31,081			128,759
Total revenues		363,316			140,194			82,242			31,081			616,833
Depreciation of rental equipment		28,071			47,374			16,442		—				91,887
Gross profit		176,040			61,394			33,699			9,888			281,021
Selling and administrative expenses		92,603			25,152			25,542			5,303			148,600
Income from operations		83,436			36,243			8,157			4,585			132,421
Interest expense (income) allocation		6,433			2,270			2,211			(459	)		10,455
Income before provision for income taxes		77,003			33,763			5,946			5,044			121,756
Adjusted EBITDA		128,044			85,723			27,961			4,844			246,572
Rental equipment acquisitions		188,392			61,097			191		—				249,680
Accounts receivable, net (period end)		112,295			22,115			16,378			8,711			159,499
Rental equipment, at cost (period end)		1,040,094			361,391			309,908		—				1,711,393
Rental equipment, net book value (period end)		751,537			161,900			151,787		—				1,065,224
Utilization (period end) ²		76.4	%		62.9	%		47.6	%
Average utilization ²		76.2	%		67.0	%		45.4	%

Segment Data (Continued) (dollar amounts in thousands)	Mobile Modular			TRS- RenTelco			Adler Tanks			Enviroplex¹			Consolidated
Year Ended December 31,
2020
Rental revenues	$	188,719		$	109,083		$	53,988		$	—		$	351,790
Rental related services revenues		67,527			3,080			21,786		—				92,393
Sales and other revenues		65,278			28,648			1,708			32,737			128,371
Total revenues		321,524			140,811			77,482			32,737			572,554
Depreciation of rental equipment		22,967			46,472			16,427		—				85,866
Gross profit		155,874			60,864			34,079			12,929			263,746
Selling and administrative expenses		68,470			24,306			24,764			5,453			122,993
Income from operations		87,404			36,558			9,315			7,476			140,753
Interest expense (income) allocation		5,104			2,133			2,107			(557	)		8,787
Income before benefit for income taxes		82,300			34,503			7,208			8,033			132,044
Adjusted EBITDA		119,202			85,082			29,010			7,729			241,023
Rental equipment acquisitions		39,078			42,588			2,541		—				84,207
Accounts receivable, net (period end)		81,640			22,735			13,655			5,286			123,316
Rental equipment, at cost (period end)		882,115			333,020			315,706		—				1,530,841
Rental equipment, net book value (period end)		611,590			156,536			169,990		—				938,116
Utilization (period end) ²		76.0	%		67.4	%		39.8	%
Average utilization ²		77.2	%		66.2	%		44.6	%

2019
Rental revenues	$	182,316		$	103,704		$	67,869		$	—		$	353,889
Rental related services revenues		69,395			3,260			28,383		—				101,038
Sales and other revenues		49,299			24,519			1,671			39,814			115,303
Total revenues		301,010			131,483			97,923			39,814			570,230
Depreciation of rental equipment		22,071			41,948			16,372		—				80,391
Gross profit		143,618			60,748			47,014			14,785			266,165
Selling and administrative expenses		65,699			24,645			29,321			5,128			124,793
Income from operations		77,919			36,103			17,693			9,657			141,372
Interest expense (income) allocation		7,946			1,970			3,436			(1,021	)		12,331
Income before benefit for income taxes		69,973			34,217			14,257			10,678			129,125
Adjusted EBITDA		107,166			80,772			38,993			9,892			236,823
Rental equipment acquisitions		75,433			89,759			4,826		—				170,018
Accounts receivable, net (period end)		83,182			23,788			17,281			3,848			128,099
Rental equipment, at cost (period end)		868,807			335,343			316,261		—				1,520,411
Rental equipment, net book value (period end)		610,048			172,413			185,039		—				967,500
Utilization (period end) ²		79.1	%		64.5	%		48.4	%
Average utilization ²		79.2	%		66.2	%		54.7	%

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Summary of Purchase Price Allocations Reflecting Estimated Fair Values of Assets Acquired and Liabilities Assumed

Design Space:

(dollar amounts in thousands)
Rental equipment	$	116,272
Intangible assets:
Goodwill		101,874
Customer relationships		37,900
Non-compete		2,500
Customer backlog		1,600
Accounts receivable		12,025
Property, plant and equipment		4,139
Prepaid expenses and other assets		5,366
Accounts payable and accrued liabilities		(11,613	)
Deferred income		(2,784	)
Total purchase price	$	267,279

Kitchens To Go:

(dollar amounts in thousands)
Rental equipment	$	12,853
Intangible assets:
Goodwill		2,322
Customer relationships		1,700
Trade name		1,200
Non-compete		600
Customer backlog		300
Accounts receivable		212
Property, plant and equipment		365
Prepaid expenses and other assets		1,199
Accounts payable and accrued liabilities		(1,659	)
Deferred income		(747	)
Total purchase price	$	18,345

Summary of Pro Forma Data

This pro forma data is presented for informational purposes only and does not purport to be indicative of the results of the future operations or the results that would have occurred had the acquisitions taken place in the periods noted below:

	(Unaudited)
	Year Ended December 31,
(dollar amounts in thousands, except for per share amounts)	2021		2020
Pro-forma total revenues	$	647,866	$	670,207
Pro-forma net income	$	93,065	$	112,029
Pro-forma basic earnings per share	$	3.84	$	4.64
Pro-forma diluted earnings per share	$	3.80	$	4.57

Design Space and Kitchens To Go
Actual total revenues	$	39,056
Actual net income	$	2,671
Actual basic earnings per share	$	0.11
Actual diluted earnings per share	$	0.11

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2021 USD ($) Division Segment shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) shares	Aug. 31, 2015 shares
Summary Of Significant Accounting Policies [Line Items]
Number of divisions \| Division	4
Number of reportable segments \| Segment	4
Impairments of long-lived assets	$ 0	$ 0	$ 0
Period for warranties for rental equipment	90 days
Period for warranties for equipment manufactured	1 year
Property, plant and equipment depreciation expenses	$ 8,900,000	8,600,000	8,200,000
Capitalized in internal use of software	200,000	100,000
Total advertising expenses	5,100,000	3,900,000	3,600,000
Goodwill and trade name intangible assets	138,300,000	34,100,000
Impairment charges		0	0
Goodwill and intangible assets impairment charge	$ 0	$ 0	$ 0
Anti-dilutive securities excluded from computation of diluted earnings per share \| shares	0	0	0
Common stock shares authorized for repurchase \| shares				2,000,000
Common stock repurchased \| shares	0	282,221	0
Average price per repurchased share \| $ / shares		$ 48.25
Aggregate purchase price		$ 13,600,000
Shares remain authorized for repurchase \| shares	1,309,805	1,309,805
Unbilled receivables related to end-of-lease services	$ 46,200,000	$ 38,700,000
Period for credit risk identified	30 days
Bad debt expense	$ 451,000	1,343,000	$ 1,013,000
Allowance for doubtful accounts	2,125,000	2,100,000	$ 1,883,000
Net investment in sales-type leases	2,200,000	1,800,000
Credit loss expense	0
Estimated fair value notes payable	158,500,000	103,100,000
Recorded fair value of notes payable	$ 160,000,000.0	$ 100,000,000.0
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Sales-type leases terms	12 months
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Sales-type leases terms	36 months

Summary of Significant Accounting Policies - Estimated Useful Lives and Residual Values of Company's Rental Equipment (Detail)	12 Months Ended
	Dec. 31, 2021
Relocatable modular buildings [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	18 years
Percentage residual value property subject to or available for operating lease	50.00%
Relocatable modular accessories [Member]
Property, Plant and Equipment [Line Items]
Percentage residual value property subject to or available for operating lease	0.00%
Blast resistant and kitchen modules [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	20 years
Percentage residual value property subject to or available for operating lease	0.00%
Portable storage containers [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	25 years
Percentage residual value property subject to or available for operating lease	62.50%
Electronic test equipment and accessories [Member]
Property, Plant and Equipment [Line Items]
Percentage residual value property subject to or available for operating lease	0.00%
Liquid and solid containment tanks and boxes and accessories [Member]
Property, Plant and Equipment [Line Items]
Percentage residual value property subject to or available for operating lease	0.00%
Minimum [Member] \| Relocatable modular accessories [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	3 years
Minimum [Member] \| Electronic test equipment and accessories [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	1 year
Minimum [Member] \| Liquid and solid containment tanks and boxes and accessories [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	3 years
Maximum [Member] \| Relocatable modular accessories [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	18 years
Maximum [Member] \| Electronic test equipment and accessories [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	8 years
Maximum [Member] \| Liquid and solid containment tanks and boxes and accessories [Member]
Property, Plant and Equipment [Line Items]
Property subject to or available for operating lease useful life	20 years

Summary of Significant Accounting Policies - Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 230,367	$ 225,967
Less: accumulated depreciation	(98,333)	(91,514)
Property plant and equipment net excluding capitalized cost	132,034	134,453
Construction in progress	3,291	1,757
Property, Plant and Equipment, net	$ 135,325	136,210
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 54,428	54,429
Estimated useful life	Indefinite
Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 59,633	59,249
Land Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years
Land Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	50 years
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 33,781	32,306
Estimated useful life	30 years
Furniture, Office Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 37,965	36,882
Vehicles and Machinery [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 44,560	$ 43,101
Vehicles and Machinery [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Vehicles and Machinery [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	25 years

Summary of Significant Accounting Policies - Weighted-Average Common Stock Used to Calculate Basic and Diluted Earnings Per Share (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Weighted-average common stock for calculating basic earnings per share	24,220	24,157	24,250
Effect of potentially dilutive securities from equity-based compensation	295	374	373
Weighted-average common stock for calculating diluted earnings per share	24,515	24,531	24,623

Summary of Significant Accounting Policies - Summary of Allowance for Doubtful Accounts Activity (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Allowance for doubtful accounts, Beginning Balance	$ 2,100	$ 1,883
Provision for doubtful accounts	451	1,343	$ 1,013
Acquired Design Space Reserve (see Note 13)	125
Write-offs, net of recoveries	(551)	(1,126)
Allowance for doubtful accounts, Ending Balance	$ 2,125	$ 2,100	$ 1,883

Leases - Additional Information (Detail) - USD ($)	12 Months Ended
Leases - Additional Information (Detail) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Leases [Line Items]
Lessee, operating lease, description	The Company leases real estate for certain of its branch offices and rental equipment storage yards, vehicles and equipment used in its rental operations. The Company determines if an arrangement is a lease at inception. The Company has leases with lease and non-lease components, which are accounted for separately.
Lessee, operating lease, option to extend	true
Lessee, operating lease, option to extend, description	These leases include one or more options to renew, with renewal terms that may extend the lease term from one to three years.
Operating lease, right of use assets	$ 11,000,000.0	$ 8,300,000
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Prepaid expenses and other assets	Prepaid expenses and other assets
Operating lease liabilities	$ 10,996,000	$ 8,300,000
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Accounts payable and accrued liabilities	Accounts payable and accrued liabilities
Operating lease expense	$ 5,400,000
Short term lease expense	$ 100,000
Weighted-average remaining lease term for operating leases	2 years 4 months 24 days
Weighted-average discount rate for operating leases	2.67%
Sub-lease income	$ 0
Finance lease liability	$ 0
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	us-gaap:Liabilities
Lessor, operating lease, description	The Company’s equipment rentals for each of its operating segments are governed by agreements that detail the lease terms and conditions. The determination of whether these contracts with customers contain a lease generally does not require significant judgement. The Company accounts for these rentals as operating leases.
Lessor, operating lease, option to extend	true
Lessor, operating lease, option to extend description	Initial lease terms vary in length based upon customer needs and generally range from one to sixty months.
Lease revenue	$ 442,600,000
Operating lease revenue	439,900,000
Finance lease revenue	2,700,000
Finance lease revenue, sales revenue	2,500,000
Finance lease revenue, interest income	$ 200,000
Minimum [Member]
Leases [Line Items]
Lessee, operating lease, renewal term	1 year
Lessor, operating lease, renewal term	1 month
Lessor, operating lease, rental products, useful lives	3 years
Maximum [Member]
Leases [Line Items]
Lessee, operating lease, renewal term	3 years
Lessor, operating lease, renewal term	60 months
Lessor, operating lease, rental products, useful lives	5 years

Leases - Summary of Supplemental Cash flow Information Related to Leases (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 5,171	$ 3,683
Right of use assets obtained in exchange for lease obligations:
Operating leases	$ 8,116	$ 1,885

Leases - Summary of Maturities of Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating Lease Liabilities Payments Due [Abstract]
2022	$ 5,702
2023	3,631
2024	1,613
2025	572
2026	33
Total lease payments	11,551
Less: imputed interest	(555)
Operating lease liabilities	$ 10,996	$ 8,300

Leases - Summary of Maturities of Operating Lease Payments (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Lessor Operating Lease Payments Fiscal Year Maturity [Abstract]
2022	$ 101,446
2023	30,782
2024	10,761
2025	3,269
2026	1,414
Thereafter	180
Operating lease, payments to be received	$ 147,852

Leases - Minimum Lease Payments Receivable and Net Investment Included in Accounts Receivable for Leases (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Leases [Abstract]
Gross minimum lease payments receivable	$ 2,392
Less – unearned interest	(184)
Net investment in finance lease receivables	$ 2,208

Leases - Future Minimum Lease Payments under Non-Cancelable Finance Leases (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Leases [Abstract]
2022	$ 1,860
2023	270
2024	78
Total minimum future lease payments	$ 2,208

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disaggregation Of Revenue [Line Items]
Period for credit risk identified	30 days
Sales revenues totaling	$ 9.8
Unbilled contract assets	$ 46.2	$ 38.7
Period for warranties for rental equipment	90 days
Period for warranties for equipment manufactured	1 year
Deferred Income [Member]
Disaggregation Of Revenue [Line Items]
Customer contract liability	$ 16.8	11.3
Accounts Receivable [Member]
Disaggregation Of Revenue [Line Items]
Unbilled contract assets	$ 1.3	$ 1.4

Revenue Recognition - Summary of Disaggregates the Company's Revenue by Lease and Non Lease (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Disaggregation Of Revenue [Line Items]

Leasing revenues

$ 442,600

Total non-lease revenues

128,759

$ 128,371

$ 115,303

Total revenues

616,833

572,554

570,230

Leasing [Member]

Disaggregation Of Revenue [Line Items]

Leasing revenues

442,598

401,923

410,993

Non-lease Rental Related Services [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

49,990

46,514

49,197

Non-lease Sales [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

122,781

122,447

107,120

Non-lease Other [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

1,464

1,670

2,920

Non-lease Revenues [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

174,235

170,631

159,237

Mobile Modular [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

70,417

65,278

49,299

Total revenues

363,316

321,524

301,010

Mobile Modular [Member] | Leasing [Member]

Disaggregation Of Revenue [Line Items]

Leasing revenues

269,175

235,003

234,032

Mobile Modular [Member] | Non-lease Rental Related Services [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

25,034

22,576

18,964

Mobile Modular [Member] | Non-lease Sales [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

68,982

63,863

47,045

Mobile Modular [Member] | Non-lease Other [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

125

969

Mobile Modular [Member] | Non-lease Revenues [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

94,141

86,521

66,978

TRS-RenTelco [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

23,895

28,648

24,519

Total revenues

140,194

140,811

131,483

TRS-RenTelco [Member] | Leasing [Member]

Disaggregation Of Revenue [Line Items]

Leasing revenues

116,769

112,210

108,044

TRS-RenTelco [Member] | Non-lease Rental Related Services [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

2,469

2,618

2,599

TRS-RenTelco [Member] | Non-lease Sales [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

19,788

24,461

18,995

TRS-RenTelco [Member] | Non-lease Other [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

1,168

1,522

1,845

TRS-RenTelco [Member] | Non-lease Revenues [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

23,425

28,601

23,439

Adler Tanks [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

3,366

1,708

1,671

Total revenues

82,242

77,482

97,923

Adler Tanks [Member] | Leasing [Member]

Disaggregation Of Revenue [Line Items]

Leasing revenues

56,654

54,710

68,917

Adler Tanks [Member] | Non-lease Rental Related Services [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

22,487

21,320

27,634

Adler Tanks [Member] | Non-lease Sales [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

2,930

1,386

1,266

Adler Tanks [Member] | Non-lease Other [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

171

106

Adler Tanks [Member] | Non-lease Revenues [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

25,588

22,772

29,006

Enviroplex [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

^[1]

31,081

32,737

39,814

Total revenues

^[1]

31,081

32,737

39,814

Enviroplex [Member] | Non-lease Sales [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

31,081

32,737

39,814

Enviroplex [Member] | Non-lease Revenues [Member]

Disaggregation Of Revenue [Line Items]

Total non-lease revenues

$ 31,081

$ 32,737

$ 39,814

[1]	Gross Enviroplex sales revenues were $32,095, $34,014 and $39,814 in 2021, 2020 and 2019, respectively. There were $1,014 and $1,277 inter-segment sales to Mobile Modular in 2021 and 2020, which have been eliminated in consolidation. There were no inter-segment sales in 2019.

Notes Payable - Components of Notes Payable (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Notes payable	$ 426,500	$ 222,771
Unamortized debt issuance cost	(49)	(17)
Notes payable, net	426,451	222,754
Unsecured Revolving Lines of Credit [Member]
Debt Instrument [Line Items]
Notes payable	266,500	122,771
Series B senior notes [Member] \| 3.68% Series B senior notes due in 2021 [Member]
Debt Instrument [Line Items]
Notes payable		40,000
Series C senior notes [Member] \| 3.84% Series C senior notes due in 2022 [Member]
Debt Instrument [Line Items]
Notes payable	60,000	$ 60,000
Series E senior notes [Member] \| 2.35% Series E senior notes due in 2026 [Member]
Debt Instrument [Line Items]
Notes payable	60,000
Series D senior notes [Member] \| 2.57% Series D senior notes due in 2028 [Member]
Debt Instrument [Line Items]
Notes payable	$ 40,000

Notes Payable - Components of Notes Payable (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 16, 2021	Mar. 17, 2021	Nov. 05, 2015
Series B senior notes [Member] \| 3.68% Series B senior notes due in 2021 [Member]
Debt Instrument [Line Items]
Senior Notes, interest rate		3.68%
Senior Notes, year of maturity		2021
Series C senior notes [Member] \| 3.84% Series C senior notes due in 2022 [Member]
Debt Instrument [Line Items]
Senior Notes, interest rate	3.84%	3.84%			3.84%
Senior Notes, year of maturity	2022	2022
Series E senior notes [Member] \| 2.35% Series E senior notes due in 2026 [Member]
Debt Instrument [Line Items]
Senior Notes, interest rate	2.35%		2.35%
Senior Notes, year of maturity	2026
Series D senior notes [Member] \| 2.57% Series D senior notes due in 2028 [Member]
Debt Instrument [Line Items]
Senior Notes, interest rate	2.57%			2.57%
Senior Notes, year of maturity	2028

Notes Payable - Schedule of Future Minimum Payments under Unsecured Revolving Lines of Credit and 3.68% Senior Notes and 3.84% Senior Notes (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Notes payable	$ 426,500	$ 222,771
Notes Payable to Banks and Others [Member]
Debt Instrument [Line Items]
2022	60,000
2025	266,500
2026	60,000
Thereafter	40,000
Notes payable	$ 426,500

Notes Payable - Additional Information (Detail) - USD ($)					12 Months Ended
	Jun. 16, 2021	Mar. 17, 2021	Mar. 31, 2020	Nov. 05, 2015	Dec. 31, 2021	Dec. 31, 2020	Mar. 30, 2020	Mar. 31, 2016
Debt Instrument [Line Items]
Consolidated Fixed Charge Coverage Ratio					2.50%
Consolidated Fixed Charge Coverage Ratio, actual					4.08%
Consolidated Leverage Ratio					275.00%
Consolidated Leverage Ratio, actual					173.00%
Senior notes principal balance outstanding					$ 426,500,000	$ 222,771,000
Note Purchase Agreement [Member] \| Notes Issued March 17, 2014 and Due March 17, 2021 [Member]
Debt Instrument [Line Items]
Proceeds from issuance of senior notes			$ 40,000,000.0
Senior notes interest rate			3.68%
Debt instrument, maturity date					Mar. 17, 2021
Note Purchase Agreement [Member] \| Notes Issued November 5, 2015 and Due November 5, 2022 [Member]
Debt Instrument [Line Items]
Proceeds from issuance of senior notes			$ 60,000,000.0
Senior notes interest rate			3.84%
Debt instrument, maturity date					Nov. 05, 2022
Shelf Notes [Member]
Debt Instrument [Line Items]
Proceeds from issuance of senior notes			$ 250,000,000
Senior notes description					In addition, pursuant to the Note Purchase Agreement, the Company may authorize the issuance and sale of additional senior notes (the “Shelf Notes”) in the aggregate principal amount of (x) $250 million minus (y) the amount of other notes (such as the Series B Senior Notes and Series C Senior Notes, each defined below) then outstanding, to be dated the date of issuance thereof, to mature, in case of each Shelf Note so issued, no more than 15 years after the date of original issuance thereof, to have an average life, in the case of each Shelf Note so issued, of no more than 15 years after the date of original issuance thereof, to bear interest on the unpaid balance thereof from the date thereof at the rate per annum, and to have such other particular terms, as shall be set forth, in the case of each Shelf Note so issued, in accordance with the Note Purchase Agreement.
3.84% Series C senior notes due in 2022 [Member] \| Series C Senior Notes [Member]
Debt Instrument [Line Items]
Proceeds from issuance of senior notes				$ 60,000,000.0
Senior notes interest rate				3.84%	3.84%	3.84%
Debt instrument, maturity date					Nov. 05, 2022
Senior notes description					Interest on the Series C Senior Notes is payable semi-annually beginning on May 5, 2016 and continuing thereafter on November 5 and May 5 of each year until maturity.
Senior notes interest payment					semi-annually
Debt instrument, date of first required payment					May 05, 2016
Senior notes principal balance outstanding					$ 60,000,000	$ 60,000,000
2.57% Series D senior notes due in 2028 [Member] \| Series C Senior Notes [Member]
Debt Instrument [Line Items]
Proceeds from issuance of senior notes		$ 40,000,000
Senior notes interest rate		2.57%			2.57%
Debt instrument, maturity date					Mar. 17, 2028
Senior notes description					Interest on the Series D Senior Notes is payable semi-annually beginning on September 17, 2021 and continuing thereafter on March 17 and September 17 of each year until maturity.
Senior notes interest payment					semi-annually
Debt instrument, date of first required payment					Sep. 17, 2021
Senior notes principal balance outstanding					$ 40,000,000
Notes payable amount net					$ 40,000,000
2.35% Series E senior notes due in 2026 [Member] \| Series E Senior Notes [Member]
Debt Instrument [Line Items]
Proceeds from issuance of senior notes	$ 60,000,000
Senior notes interest rate	2.35%				2.35%
Debt instrument, maturity date					Jun. 16, 2026
Senior notes description					Interest on the Series E Senior Notes is payable semi-annually beginning on December 16, 2021 and continuing thereafter on June 16 and December 16 of each year until maturity.
Senior notes interest payment					semi-annually
Debt instrument, date of first required payment					Dec. 16, 2021
Senior notes principal balance outstanding					$ 60,000,000
Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum			420,000,000.0
Revolving credit facility, maturity date					Mar. 31, 2025
Additional senior notes indebtedness			250,000,000.0
Consolidated Fixed Charge Coverage Ratio					2.50%
Consolidated Fixed Charge Coverage Ratio, actual					4.08%
Consolidated Leverage Ratio					275.00%
Consolidated Leverage Ratio, actual					173.00%
Debt instrument description of variable rate basis					(i) LIBOR plus a defined margin, or (ii) the Agent bank’s prime rate (“base rate”) plus a margin. The applicable margin for each type of loan is measured based upon the Consolidated Leverage Ratio at the end of the prior fiscal quarter and ranges from 1.00% to 1.75% for LIBOR loans and 0% to 0.75% for base rate loans. In addition, the Company pays an unused commitment fee for the portion of the $420.0 million credit facility that is not used. These fees are based upon the Consolidated Leverage Ratio and range from 0.15% to 0.30%. As of December 31, 2021 and 2020, the applicable margins were 1.25% for LIBOR based loans, 0.25% for base rate loans and 0.20% for unused fees. Amounts borrowed under the Sweep Service Facility are based upon the MUFG Union Bank, N.A. base rate plus an applicable margin and an unused commitment fee for the portion of the $12.0 million facility not used.
Unused commitment fees					$ 420,000,000.0
Credit Facility [Member] \| Unused Fees [Member]
Debt Instrument [Line Items]
Debt instrument interest rate at period end					0.20%	0.20%
Credit Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Leverage ratio					0.15%
Credit Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Leverage ratio					0.30%
Credit Facility [Member] \| LIBOR Loans [Member]
Debt Instrument [Line Items]
Debt instrument interest rate at period end					1.25%	1.25%
Credit Facility [Member] \| LIBOR Loans [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Leverage ratio					1.00%
Credit Facility [Member] \| LIBOR Loans [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Leverage ratio					1.75%
Credit Facility [Member] \| Base Rate Loans [Member]
Debt Instrument [Line Items]
Debt instrument interest rate at period end					0.25%	0.25%
Credit Facility [Member] \| Base Rate Loans [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Leverage ratio					0.00%
Credit Facility [Member] \| Base Rate Loans [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Leverage ratio					0.75%
Credit Facility [Member] \| MUFG Union Bank, N.A [Member]
Debt Instrument [Line Items]
Credit facility, maximum							$ 12,000,000.0
Revolving credit facility, maturity date					Mar. 31, 2025
Credit Facility [Member] \| Treasury Sweep Note Due March 31, 2025 [Member]
Debt Instrument [Line Items]
Credit facility, indebtedness			12,000,000.0
Revolving credit facility, maturity date					Mar. 31, 2025
Credit Facility [Member] \| Notes Issued March 17, 2014 and Due March 17, 2021 [Member]
Debt Instrument [Line Items]
Revolving credit facility, maturity date					Mar. 17, 2021
Credit facility, aggregate outstanding principal			40,000,000.0
Credit Facility [Member] \| Notes Issued November 5, 2015 and Due November 5, 2022 [Member]
Debt Instrument [Line Items]
Revolving credit facility, maturity date					Nov. 05, 2022
Credit facility, aggregate outstanding principal			60,000,000.0
Credit Facility [Member] \| Sweep Service Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum					$ 432,000,000.0
Credit facility, aggregate outstanding principal					266,500,000
Unused commitment fees					$ 12,000,000.0
Credit Facility [Member] \| One or More Tranches [Member]
Debt Instrument [Line Items]
Revolving credit facility, available maximum borrowing capacity			670,000,000.0
Letters of Credit [Member]
Debt Instrument [Line Items]
Credit facility, maximum			25,000,000.0
Swingline Loans [Member]
Debt Instrument [Line Items]
Credit facility, maximum			10,000,000.0
Unsecured revolving credit facility before Renewal [Member]
Debt Instrument [Line Items]
Credit facility, maximum			$ 420,000,000.0
Unsecured revolving credit facility before Renewal [Member] \| MUFG Union Bank, N.A [Member]
Debt Instrument [Line Items]
Credit facility, maximum								$ 12,000,000.0

Notes Payable - Schedule of Information Related to Lines of Credit (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Maximum amount outstanding	$ 389,740	$ 199,471
Average amount outstanding	$ 239,134	$ 170,075
Weighted average interest rate, during the period	2.07%	2.11%
Prime Rate [Member]
Debt Instrument [Line Items]
Prime interest rate, end of period	3.25%	3.25%

Income Taxes - Schedule of Income Before Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest [Abstract]
U.S.	$ 121,660	$ 131,898	$ 129,045
Foreign	96	146	80
Income before provision for income taxes	$ 121,756	$ 132,044	$ 129,125

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123384075&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes - Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
U.S. Federal	$ (1,692)	$ 23,975	$ 11,744
State	5,360	6,545	7,353
Foreign	2,035	1,733	1,616
Current income tax expense (benefit)	5,703	32,253	20,713
Deferred:
U.S. Federal	23,433	(755)	10,719
State	2,896	(1,424)	895
Foreign	19	(14)	(8)
Deferred income tax expense (benefit)	26,348	(2,193)	11,606
Total	$ 32,051	$ 30,060	$ 32,319

Income Taxes - Reconciliation of U.S. Federal Statutory Tax Rate to Company's Effective Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
U.S. federal statutory rate	21.00%	21.00%	21.00%
State taxes, net of federal benefit	5.10%	4.70%	5.00%
State deferred tax apportionment change, net of federal benefit	1.60%	(1.60%)	0.10%
Valuation allowance	0.00%	0.00%	0.00%
Share-based compensation	(2.10%)	(1.40%)	(1.60%)
Enactment of the Tax Cuts and Jobs Act	(0.00%)	(0.30%)	(0.10%)
Other	0.70%	0.40%	0.60%
Effective Income Tax Rate	26.30%	22.80%	25.00%

Income Taxes - Deferred Income Taxes Related to Temporary Differences between Tax Bases of Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax liabilities:
Accelerated depreciation	$ 244,141	$ 217,125
Prepaid costs currently deductible	6,069	5,039
Other	6,553	5,970
Total deferred tax liabilities	256,763	228,134
Deferred tax assets:
Accrued costs not yet deductible	11,010	9,200
Allowance for doubtful accounts	548	536
Deferred revenues	219
Share-based compensation	2,561	2,321
Total deferred tax assets, net of valuation allowance of $0.2 million in 2021 and 2020	14,338	12,057
Deferred income taxes, net	$ 242,425	$ 216,077

Income Taxes - Deferred Income Taxes Related to Temporary Differences between Tax Bases of Assets and Liabilities (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Deferred tax assets, valuation allowance	$ 0.2	$ 0.2

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Excess tax shortfall (benefit) from exercise of share-based awards	$ (2,500,000)	$ (1,900,000)	$ (2,100,000)
Likelihood percentage of being realized upon ultimate settlement with the relevant tax authority	50.00%
Unrecognized tax benefits	$ 0	0
Changes in unrecognized benefits	0	$ 0	$ 0
Foreign [Member]
Operating Loss Carryforwards [Line Items]
Net operating losses carryforwards	$ 600,000
Net operating losses carryforwards, expiration year	2023

Benefit Plans - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 08, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 7,666,000	$ 5,549,000	$ 5,892,000
Tax benefit related to share-based compensation expense	2,100,000	1,500,000	1,600,000
Capitalized share-based compensation expense	$ 0	$ 0	$ 0
Stock option plans remain outstanding	274,630	409,410	580,140	845,600
Number of options, granted	0	0	0
Eligible period of service for participation in plan	2 months
Minimum age for employees to participate in KSOP	21 years
Dividends deducted	$ 400,000
Tax benefit from dividends	$ 100,000
Shares outstanding, employee stock ownership plan	245,780
Percentage of total common shares outstanding	1.00%
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized	1,414,352
Stock options granted	8,458,600
Stock options, exercise prices lower	$ 3.47
Stock options, exercise prices upper	$ 40.37
Purchase of shares	6,511,238
Stock option shares terminated	1,672,732
Stock option plans remain outstanding	274,630
Stock options outstanding, exercise prices lower	$ 24.60
Stock options outstanding, exercise prices upper	$ 40.37
Stock options vesting period	5 years
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	7 years
Options issued to non-employee advisors	0
Aggregate intrinsic value of options exercised and sold	$ 16,200,000	$ 11,900,000	$ 9,100,000
Total unrecognized compensation cost	$ 100,000
Performance-based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vesting period	3 years			5 years
Percentage of vesting annually at anniversary				20.00%
Number of RSU's expected to vest	116,989
Performance-based RSUs [Member] \| Vesting after three years [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of vesting RSUs	100.00%			60.00%
Service-based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of RSU's expected to vest	111,631
Number of forfeitures expected	0
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected recognition period of unrecognized compensation expense	1 year 4 months 24 days
Number of forfeitures expected	8,646	7,593	840
Total fair value of RSU's vested based on weighted average grant date values	$ 6,200,000	$ 3,900,000	$ 1,200,000
Stock-based compensation expense for restricted stock	7,300,000	$ 4,600,000	$ 4,700,000
Total unrecognized compensation expense net of forfeitures	$ 14,800,000
Maximum [Member] \| Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected recognition period of unrecognized compensation expense	1 year
Maximum [Member] \| Service-based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vesting period	14 months
Minimum [Member] \| Service-based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vesting period	12 months
2016 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reduction in common stock available for grant	2
Common Stock [Member] \| 2016 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock remained available for grants of awards					2,000,000
Common Stock [Member] \| 2016 Stock Incentive Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of award (in years)	7 years
Common Stock [Member] \| 2016 Stock Incentive Plan [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Rate of exercise price for equity award granted	100.00%

Benefit Plans - Summary of Company's Option Activity (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Options, Beginning Balance	409,410	580,140	845,600
Number of Options, granted	0	0	0
Number of Options, exercised	(133,020)	(163,670)	(260,860)
Number of Options, cancelled/forfeited/expired	(1,760)	(7,060)	(4,600)
Number of Options, Ending Balance	274,630	409,410	580,140
Number of Options, Exercisable at December 31, 2021	261,250
Number of Options, Expected to Vest after December 31, 2021	13,038
Weighted-Average Price, Beginning Balance	$ 29.33	$ 29.57	$ 28.14
Weighted-Average Price, Options exercised	28.57	30.22	29.55
Weighted-Average Price, Options cancelled/forfeited/expired	34.57	28.95	30.59
Weighted-Average Price, Ending Balance	29.66	$ 29.33	$ 29.57
Weighted-Average Price, Exercisable at December 31, 2021	29.39
Weighted-Average Price, Expected to Vest after December 31, 2021	$ 34.97
Weighted-Average Remaining Contractual Term, Balance At December 31, 2021	1 year 8 months 8 days
Weighted-Average Remaining Contractual Term, Exercisable at December 31, 2021	1 year 7 months 28 days
Weighted-Average Remaining Contractual Term, Expected to Vest after December 31, 2021	2 years 3 months 14 days
Aggregate Intrinsic Value, Balance At December 31, 2021	$ 13.9
Aggregate Intrinsic Value, Exercisable at December 31, 2021	13.3
Aggregate Intrinsic Value, Expected to Vest after December 31, 2021	$ 0.6

Benefit Plans - Options Outstanding and Options Exercisable by Exercise Price with Weighted-Average Remaining Contractual Life for Options Outstanding and Weighted-Average Exercise Price (Detail)	12 Months Ended
	Dec. 31, 2021 $ / shares shares
Exercise Price 20-25 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Lower Range Limit	$ 20
Exercise Price Upper Range Limit	$ 25
Options Outstanding, Number \| shares	137,585
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	1 year 2 months 1 day
Options Outstanding, Weighted-Average Grant Date Value	$ 24.60
Options Exercisable, Number \| shares	137,585
Options Exercisable, Weighted-Average Grant Date Value	$ 24.60
Exercise Price 25-30 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Lower Range Limit	25
Exercise Price Upper Range Limit	30
Exercise Price 30-35 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Lower Range Limit	30
Exercise Price Upper Range Limit	$ 35
Options Outstanding, Number \| shares	129,225
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	2 years 2 months 19 days
Options Outstanding, Weighted-Average Grant Date Value	$ 34.47
Options Exercisable, Number \| shares	116,865
Options Exercisable, Weighted-Average Grant Date Value	$ 34.46
Exercise Price 35-40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Lower Range Limit	35
Exercise Price Upper Range Limit	$ 40
Options Outstanding, Number \| shares	6,800
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	2 years
Options Outstanding, Weighted-Average Grant Date Value	$ 39.19
Options Exercisable, Number \| shares	6,800
Options Exercisable, Weighted-Average Grant Date Value	$ 39.19
Exercise Price 40-45 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Lower Range Limit	40
Exercise Price Upper Range Limit	$ 45
Options Outstanding, Number \| shares	1,020
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	2 years 8 months 1 day
Options Outstanding, Weighted-Average Grant Date Value	$ 40.37
Options Exercisable, Weighted-Average Grant Date Value	40.37
Exercise Price 20-45 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Lower Range Limit	20
Exercise Price Upper Range Limit	$ 45
Options Outstanding, Number \| shares	274,630
Options Outstanding, Weighted-Average Remaining Contractual Life (Years)	1 year 8 months 8 days
Options Outstanding, Weighted-Average Grant Date Value	$ 29.66
Options Exercisable, Number \| shares	261,250
Options Exercisable, Weighted-Average Grant Date Value	$ 29.39

Benefit Plans - Summary of Company's Restricted Stock Units Activity (Detail) - Restricted Stock Units [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Beginning Balance	225,970	196,248	139,510
Number of Shares, granted	116,326	126,540	83,440
Number of Shares, vested	(116,242)	(89,225)	(25,862)
Number of Shares, cancelled/forfeited/expired	(8,646)	(7,593)	(840)
Number of Shares, Ending Balance	217,408	225,970	196,248
Weighted-Average Grant Date Fair Value, Beginning Balance	$ 57.06	$ 50.68	$ 44.73
Weighted-Average Grant Date Fair Value, granted	72.75	50.99	59.98
Weighted-Average Grant Date Fair Value, vested	53.32	43.42	48.31
Weighted-Average Grant Date Fair Value, cancelled/forfeited/expired	52.78	57.93	59.84
Weighted-Average Grant Date Fair Value, Ending Balance	$ 67.63	$ 57.06	$ 50.68
Aggregate Intrinsic Value	$ 17.4

Shareholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Aug. 31, 2015
Stockholders Equity Note [Abstract]
Common stock shares authorized for repurchase				2,000,000
Shares remain authorized for repurchase	1,309,805	1,309,805
Common stock repurchased, Shares	0	282,221	0
Aggregate purchase price		$ 13.6
Average price per repurchased share		$ 48.25

Commitments and Contingencies - Minimum Payments under Leases, Exclusive of Property Taxes and Insurance (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Lessee Operating Lease Liability Payments [Line Items]
2022	$ 5,702
2023	3,631
2024	1,613
2025	572
2026	33
Total lease payments	11,551
Facility [Member]
Lessee Operating Lease Liability Payments [Line Items]
2022	4,993
2023	3,170
2024	1,495
2025	532
2026	33
Total lease payments	$ 10,223

Commitments and Contingencies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Commitments And Contingencies [Line Items]
Operating lease expense	$ 5,400,000
Health plan annual stop-loss insurance per claim	200,000
Workers compensation insurance with no stop-loss for prior claim years	350,000
Accruals for health and workers' compensation plans	2,500,000	$ 2,200,000
Facility [Member]
Commitments And Contingencies [Line Items]
Operating lease expense	$ 5,600,000	$ 3,700,000	$ 3,900,000

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Finite Lived Intangible Assets [Line Items]
Cost	$ 56,681	$ 10,801
Accumulated amortization	(15,503)	(9,554)
Net book value	41,178	1,247
Indefinite, cost	5,871	5,871
Indefinite, net book value	5,871	5,871
Total, cost	62,552	16,672
Total, accumulated amortization	(15,503)	(9,554)
Total, net book value	$ 47,049	$ 7,118
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Estimated useful life in years	8 years	11 years
Average remaining life in years	7 years 3 months 18 days	6 years 9 months 18 days
Cost	$ 50,285	$ 10,644
Accumulated amortization	(12,991)	(9,510)
Net book value	$ 37,294	$ 1,134
Customer Relationships [Member] \| Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated useful life in years	8 years
Customer Relationships [Member] \| Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated useful life in years	11 years
Non-compete Agreements [Member]
Finite Lived Intangible Assets [Line Items]
Estimated useful life in years	5 years	5 years
Average remaining life in years	4 years 2 months 12 days	3 years 7 months 6 days
Cost	$ 3,296	$ 157
Accumulated amortization	(499)	(44)
Net book value	$ 2,797	$ 113
Customer Backlog [Member]
Finite Lived Intangible Assets [Line Items]
Estimated useful life in years	6 months
Average remaining life in years	0 years
Cost	$ 1,900
Accumulated amortization	$ (1,900)
Trade Name [Member]
Finite Lived Intangible Assets [Line Items]
Estimated useful life in years	8 years
Average remaining life in years	7 years 3 months 18 days
Cost	$ 1,200
Accumulated amortization	(113)
Net book value	$ 1,087

Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 5,900,000	$ 200,000	$ 900,000
Subsequent impairment of the underlying assets	0
Expected annual amortization expense for 2022	5,900,000
Expected annual amortization expense for 2023	5,900,000
Expected annual amortization expense for 2024	5,900,000
Expected annual amortization expense for 2025	5,900,000
Expected annual amortization expense for 2026	5,400,000
Expected annual amortization expense for 2027	$ 5,200,000

Related Party Transactions - Additional Information (Detail) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Related Party Transactions [Abstract]
Amount due from (to) related party	$ 0	$ 0

- Definition

Receivables to be collected from (obligations owed to) related parties, net as of the balance sheet date where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(C))
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SX 210.13-02(a)(5))
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SX 210.13-01(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

+ Details

Segment Reporting - Additional Information (Detail)	12 Months Ended
Segment Reporting - Additional Information (Detail)	Dec. 31, 2021 Segment Customer	Dec. 31, 2020 Customer	Dec. 31, 2019 Customer
Segment Reporting Information [Line Items]
Number of reportable segments \| Segment	4
Customer Concentration Risk [Member] \| Sales [Member]
Segment Reporting Information [Line Items]
Number of major customer \| Customer	0	0	0
Geographic Concentration Risk [Member] \| Sales [Member] \| Foreign Country Customers [Member]
Segment Reporting Information [Line Items]
Revenues from customers	4.00%	4.00%	5.00%

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Segment Reporting Information [Line Items]

Rental revenues

$ 390,013

$ 351,790

$ 353,889

Rental related services revenues

98,061

92,393

101,038

Sales and other revenues

128,759

128,371

115,303

Total revenues

616,833

572,554

570,230

Depreciation of rental equipment

91,887

85,866

80,391

Gross profit

281,021

263,746

266,165

Selling and administrative expenses

148,600

122,993

124,793

Income from operations

132,421

140,753

141,372

Interest expense (income) allocation

10,455

8,787

12,331

Income before provision/benefit for income taxes

121,756

132,044

129,125

Adjusted EBITDA

246,572

241,023

236,823

Rental equipment acquisitions

249,680

84,207

170,018

Accounts receivable, net (period end)

159,499

123,316

128,099

Rental equipment, at cost (period end)

1,711,393

1,530,841

1,520,411

Rental equipment, net book value (period end)

1,065,224

938,116

967,500

Mobile Modular [Member]

Segment Reporting Information [Line Items]

Rental revenues

220,569

188,719

182,316

Rental related services revenues

72,330

67,527

69,395

Sales and other revenues

70,417

65,278

49,299

Total revenues

363,316

321,524

301,010

Depreciation of rental equipment

28,071

22,967

22,071

Gross profit

176,040

155,874

143,618

Selling and administrative expenses

92,603

68,470

65,699

Income from operations

83,436

87,404

77,919

Interest expense (income) allocation

6,433

5,104

7,946

Income before provision/benefit for income taxes

77,003

82,300

69,973

Adjusted EBITDA

128,044

119,202

107,166

Rental equipment acquisitions

188,392

39,078

75,433

Accounts receivable, net (period end)

112,295

81,640

83,182

Rental equipment, at cost (period end)

1,040,094

882,115

868,807

Rental equipment, net book value (period end)

$ 751,537

$ 611,590

$ 610,048

Utilization (period end)

^[1]

76.40%

76.00%

79.10%

Average utilization

^[1]

76.20%

77.20%

79.20%

TRS-RenTelco [Member]

Segment Reporting Information [Line Items]

Rental revenues

$ 113,419

$ 109,083

$ 103,704

Rental related services revenues

2,880

3,080

3,260

Sales and other revenues

23,895

28,648

24,519

Total revenues

140,194

140,811

131,483

Depreciation of rental equipment

47,374

46,472

41,948

Gross profit

61,394

60,864

60,748

Selling and administrative expenses

25,152

24,306

24,645

Income from operations

36,243

36,558

36,103

Interest expense (income) allocation

2,270

2,133

1,970

Income before provision/benefit for income taxes

33,763

34,503

34,217

Adjusted EBITDA

85,723

85,082

80,772

Rental equipment acquisitions

61,097

42,588

89,759

Accounts receivable, net (period end)

22,115

22,735

23,788

Rental equipment, at cost (period end)

361,391

333,020

335,343

Rental equipment, net book value (period end)

$ 161,900

$ 156,536

$ 172,413

Utilization (period end)

^[1]

62.90%

67.40%

64.50%

Average utilization

^[1]

67.00%

66.20%

Adler Tanks [Member]

Segment Reporting Information [Line Items]

Rental revenues

$ 56,025

$ 53,988

$ 67,869

Rental related services revenues

22,851

21,786

28,383

Sales and other revenues

3,366

1,708

1,671

Total revenues

82,242

77,482

97,923

Depreciation of rental equipment

16,442

16,427

16,372

Gross profit

33,699

34,079

47,014

Selling and administrative expenses

25,542

24,764

29,321

Income from operations

8,157

9,315

17,693

Interest expense (income) allocation

2,211

2,107

3,436

Income before provision/benefit for income taxes

5,946

7,208

14,257

Adjusted EBITDA

27,961

29,010

38,993

Rental equipment acquisitions

191

2,541

4,826

Accounts receivable, net (period end)

16,378

13,655

17,281

Rental equipment, at cost (period end)

309,908

315,706

316,261

Rental equipment, net book value (period end)

$ 151,787

$ 169,990

$ 185,039

Utilization (period end)

^[1]

47.60%

39.80%

48.40%

Average utilization

^[1]

45.40%

44.60%

54.70%

Enviroplex [Member]

Segment Reporting Information [Line Items]

Sales and other revenues

^[2]

$ 31,081

$ 32,737

$ 39,814

Total revenues

^[2]

31,081

32,737

39,814

Gross profit

^[2]

9,888

12,929

14,785

Selling and administrative expenses

^[2]

5,303

5,453

5,128

Income from operations

^[2]

4,585

7,476

9,657

Interest expense (income) allocation

^[2]

(459)

(557)

(1,021)

Income before provision/benefit for income taxes

^[2]

5,044

8,033

10,678

Adjusted EBITDA

^[2]

4,844

7,729

9,892

Accounts receivable, net (period end)

^[2]

$ 8,711

$ 5,286

$ 3,848

[1]	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.
[2]	Gross Enviroplex sales revenues were $32,095, $34,014 and $39,814 in 2021, 2020 and 2019, respectively. There were $1,014 and $1,277 inter-segment sales to Mobile Modular in 2021 and 2020, which have been eliminated in consolidation. There were no inter-segment sales in 2019.

Segment Reporting - Summarized Financial Information for Company's Reportable Segments (Parenthetical) (Detail) - USD ($)

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Segment Reporting Information [Line Items]

Revenues

$ 616,833,000

$ 572,554,000

$ 570,230,000

Sales revenues

$ (128,759,000)

$ (128,371,000)

(115,303,000)

Type of Revenue [Extensible List]

Sales [Member]

Segment Reporting Information [Line Items]

Sales revenues

$ (125,235,000)

$ (124,604,000)

(110,229,000)

Enviroplex [Member]

Segment Reporting Information [Line Items]

Revenues

^[1]

31,081,000

32,737,000

39,814,000

Sales revenues

^[1]

(31,081,000)

(32,737,000)

(39,814,000)

Mobile Modular [Member]

Segment Reporting Information [Line Items]

Revenues

363,316,000

321,524,000

301,010,000

Sales revenues

(70,417,000)

(65,278,000)

(49,299,000)

Operating Segments [Member] | Enviroplex [Member] | Sales [Member]

Segment Reporting Information [Line Items]

Revenues

32,095,000

34,014,000

39,814,000

Inter-segment Eliminations [Member]

Segment Reporting Information [Line Items]

Sales revenues

$ 0

Type of Revenue [Extensible List]

Sales [Member]

Inter-segment Eliminations [Member] | Mobile Modular [Member]

Segment Reporting Information [Line Items]

Sales revenues

$ 1,014,000

$ 1,277,000

[1]	Gross Enviroplex sales revenues were $32,095, $34,014 and $39,814 in 2021, 2020 and 2019, respectively. There were $1,014 and $1,277 inter-segment sales to Mobile Modular in 2021 and 2020, which have been eliminated in consolidation. There were no inter-segment sales in 2019.

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

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+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Acquisitions - Additional Information (Detail) - USD ($)			12 Months Ended
	May 17, 2021	Apr. 01, 2021	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Combined acquired goodwill			$ 132,393,000	$ 28,197,000
Goodwill deductible for tax purpose, period			15 years
Combined federal and state tax rate			28.00%
Customer Relationships [Member]
Business Acquisition [Line Items]
Acquired intangible assets, expected useful life			8 years	11 years
Trade Name [Member]
Business Acquisition [Line Items]
Acquired intangible assets, expected useful life			8 years
Non-compete [Member]
Business Acquisition [Line Items]
Acquired intangible assets, expected useful life			5 years
Customer Backlog [Member]
Business Acquisition [Line Items]
Acquired intangible assets, expected useful life			6 months
Design Space Modular Buildings PNW, LP [Member]
Business Acquisition [Line Items]
Purchase of assets	$ 267,300,000
Business acquisition, transaction costs	1,700,000
Cash paid for acquisition of non-compete agreements	2,500,000
Combined acquired goodwill	101,874,000
Rental equipment	$ 116,272,000
GRS Holding LLC, DBA Kitchens To Go [Member]
Business Acquisition [Line Items]
Purchase of assets		$ 18,300,000
Business acquisition, transaction costs		300,000
Combined acquired goodwill		2,322,000
Rental equipment		$ 12,853,000
Design Space and Kitchens To Go [Member]
Business Acquisition [Line Items]
Combined acquired goodwill			$ 104,196
Titan Storage Containers, LLC [Member]
Business Acquisition [Line Items]
Purchase of assets			6,600,000
Business combination remaining liability to seller			300,000
Rental equipment			6,200,000
Rolling stock assets			800,000
Accrued liabilities			$ 200,000

Acquisitions - Summary of Purchase Price Allocations Reflecting Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	May 17, 2021	Apr. 01, 2021	Dec. 31, 2020
Intangible assets:
Goodwill	$ 132,393			$ 28,197
Design Space Modular Buildings PNW, LP [Member]
Business Acquisition [Line Items]
Rental equipment		$ 116,272
Intangible assets:
Goodwill		101,874
Accounts receivable		12,025
Property, plant and equipment		4,139
Prepaid expenses and other assets		5,366
Accounts payable and accrued liabilities		(11,613)
Deferred income		(2,784)
Total purchase price		267,279
Design Space Modular Buildings PNW, LP [Member] \| Customer Relationships [Member]
Intangible assets:
Intangible assets		37,900
Design Space Modular Buildings PNW, LP [Member] \| Non-compete [Member]
Intangible assets:
Intangible assets		2,500
Design Space Modular Buildings PNW, LP [Member] \| Customer Backlog [Member]
Intangible assets:
Intangible assets		$ 1,600
GRS Holding LLC, DBA Kitchens To Go [Member]
Business Acquisition [Line Items]
Rental equipment			$ 12,853
Intangible assets:
Goodwill			2,322
Accounts receivable			212
Property, plant and equipment			365
Prepaid expenses and other assets			1,199
Accounts payable and accrued liabilities			(1,659)
Deferred income			(747)
Total purchase price			18,345
GRS Holding LLC, DBA Kitchens To Go [Member] \| Customer Relationships [Member]
Intangible assets:
Intangible assets			1,700
GRS Holding LLC, DBA Kitchens To Go [Member] \| Trade Name [Member]
Intangible assets:
Intangible assets			1,200
GRS Holding LLC, DBA Kitchens To Go [Member] \| Non-compete [Member]
Intangible assets:
Intangible assets			600
GRS Holding LLC, DBA Kitchens To Go [Member] \| Customer Backlog [Member]
Intangible assets:
Intangible assets			$ 300

Acquisitions - Summary of Pro Forma Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Pro-forma total revenues	$ 647,866	$ 670,207
Pro-forma net income	$ 93,065	$ 112,029
Pro-forma basic earnings per share	$ 3.84	$ 4.64
Pro-forma diluted earnings per share	$ 3.80	$ 4.57
Design Space and Kitchens To Go [Member]
Business Acquisition [Line Items]
Actual total revenues	$ 39,056
Actual net income	$ 2,671
Actual basic earnings per share	$ 0.11
Actual diluted earnings per share	$ 0.11