Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2020

Summary of Revenues by Type and by Applicable Accounting Standard

For additional information related to our revenue recognition policies pursuant to Topic 606 and Topic 842, please see Significant Accounting Policies in note 2 to our Form 10-K for the year ended December 31, 2019. In the table below, revenues as presented in our condensed consolidated statements of operations for the three and nine month periods ended September 30, 2020 and 2019 are summarized by type and by the applicable accounting standard.

	Three Month Period Ended September 30,
	2020						2019
	Topic 842		Topic 606		Total		Topic 842		Topic 606		Total
Revenues:
Rental revenues
Owned equipment rentals	$	142,708	$	168	$	142,876	$	177,287	$	305	$	177,592
Re-rent revenue		6,546		—		6,546		7,205		—		7,205
Ancillary and other rental revenues:
Delivery and pick-up		—		9,161		9,161		—		10,977		10,977
Other		7,266		—		7,266		8,358		—		8,358
Total ancillary rental revenues		7,266		9,161		16,427		8,358		10,977		19,335
Total equipment rental revenues		156,520		9,329		165,849		192,850		11,282		204,132
New equipment sales		—		37,248		37,248		—		65,010		65,010
Used equipment sales		—		40,000		40,000		—		31,180		31,180
Parts sales		—		27,853		27,853		—		31,499		31,499
Service revenues		—		15,637		15,637		—		18,105		18,105
Other		—		2,673		2,673		—		3,071		3,071
Total revenues	$	156,520	$	132,740	$	289,260	$	192,850	$	160,147	$	352,997

	Nine Month Period Ended September 30,
	2020						2019
	Topic 842		Topic 606		Total		Topic 842		Topic 606		Total
Revenues:
Rental revenues
Owned equipment rentals	$	431,881	$	630	$	432,511	$	497,709	$	824	$	498,533
Re-rent revenue		16,306		—		16,306		19,761		—		19,761
Ancillary and other rental revenues:
Delivery and pick-up		—		26,890		26,890		—		30,272		30,272
Other		20,455		—		20,455		23,997		—		23,997
Total ancillary rental revenues		20,455		26,890		47,345		23,997		30,272		54,269
Total equipment rental revenues		468,642		27,520		496,162		541,467		31,096		572,563
New equipment sales		—		112,068		112,068		—		177,709		177,709
Used equipment sales		—		105,231		105,231		—		96,942		96,942
Parts sales		—		83,842		83,842		—		93,798		93,798
Service revenues		—		48,116		48,116		—		50,398		50,398
Other		—		8,099		8,099		—		8,822		8,822
Total revenues	$	468,642	$	384,876	$	853,518	$	541,467	$	458,765	$	1,000,232

Schedule of Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for our reporting units for the periods ended September 30, 2020 and December 31, 2019 were as follows (amounts in thousands):

	Eq. Rental Comp. 1			Eq. Rental Comp. 2			New Eq. Sales			Used Eq. Sales			Parts Sales			Service Revenues			Total
Balance at December 31, 2018	$	34,297		$	42,536		$	10,434		$	8,461		$	8,910		$	1,205		$	105,843
Increases (1)		14,918			19,775			254			500			2,045			291			37,783
Decreases (2)		—			—			(10,688	)		—			—			(1,496	)		(12,184	)
Balance at December 31, 2019		49,215			62,311			—			8,961			10,955			—			131,442
Decreases (3)		(239	)		(317	)		—			(8	)		(33	)		—			(597	)
Decreases (4)		—			(61,994	)		—			—			—			—			(61,994	)
Balance at September 30, 2020	$	48,976		$	—		$	—		$	8,953		$	10,922		$	—		$	68,851

(1)

Increases are related to goodwill recognized in the Cobra Equipment Rentals, LLC 2019 acquisition. See footnote 3 for further information.

(2)

Decreases are related to the goodwill impairment calculated as of October 1, 2019.

(3)

Decreases are related to an adjustment during the first quarter of 2020 from the final closing settlement of the Cobra Equipment Rentals, LLC 2019 acquisition.

(4)

Decrease is related to the goodwill impairment calculated as of March 31, 2020.