Acquisitions (Tables)

3 Months Ended

Mar. 31, 2023

Business Combinations [Abstract]

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

The following tables summarize the preliminary purchase price allocations reflecting estimated fair values of assets acquired and liabilities assumed in the Vesta Modular and Brekke Storage acquisitions, with excess amounts allocated to goodwill.

Vesta Modular:

(dollar amounts in thousands)
Rental equipment	$	226,753
Intangible assets:
Goodwill		213,313
Customer relationships		26,000
Non-compete		7,100
Trade name		800
Cash		11
Accounts receivable		22,401
Property, plant and equipment		1,437
Prepaid expenses and other assets		3,550
Accounts payable and accrued liabilities		(27,558	)
Deferred income		(14,273	)
Deferred income taxes		(22,324	)
Total purchase price	$	437,210

Brekke Storage:

(dollar amounts in thousands)
Rental equipment	$	10,798
Intangible assets:
Goodwill		4,083
Customer relationships		949
Non-compete		59
Property, plant and equipment		875
Deferred income		(382	)
Total purchase price	$	16,382

Summary of Pro Forma Data

	(Unaudited)
	Three months ended March 31,
(dollar amounts in thousands, except for per share amounts)	2023		2022
Pro-forma total revenues	$	171,361	$	148,551
Pro-forma net income	$	11,222	$	10,276
Pro-forma basic earnings per share	$	0.46	$	0.42
Pro-forma diluted earnings per share	$	0.46	$	0.42
Vesta Modular
Actual total revenues	$	17,584
Actual net income	$	3,679
Actual basic earnings per share	$	0.15
Actual diluted earnings per share	$	0.15