Acquisitions (Tables)

9 Months Ended

Sep. 30, 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, Brekke Storage and Dixie Storage business acquisitions, with excess amounts allocated to goodwill.

Vesta Modular:

(dollar amounts in thousands)
Rental equipment	$	213,929
Intangible assets:
Goodwill		211,730
Customer relationships		29,900
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		(27,153	)
Deferred income		(14,273	)
Deferred income taxes		(12,222	)
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

Dixie Storage:

(dollar amounts in thousands)
Rental equipment	$	2,758
Intangible assets:
Goodwill		1,555
Customer relationships		259
Non-compete		22
Property, plant and equipment		318
Deferred income		(161	)
Total purchase price	$	4,751

Summary of Pro Forma Data

	(Unaudited)
	Nine months ended September 30,
(dollar amounts in thousands, except for per share amounts)	2023		2022
Pro-forma total revenues	$	617,897	$	550,813
Pro-forma net income	$	79,540	$	63,204
Pro-forma basic earnings per share	$	3.25	$	2.60
Pro-forma diluted earnings per share	$	3.25	$	2.58
Vesta Modular
Actual total revenues	$	82,186
Actual net income	$	17,627
Actual basic earnings per share	$	0.72
Actual diluted earnings per share	$	0.72