Segment Reporting

12 Months Ended

Dec. 31, 2011

Segment Reporting [Abstract]

Segment Reporting

NOTE 11.     SEGMENT REPORTING

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

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

Segment Data (Continued)		Mobile Modular			TRS-RenTelco			Adler Tanks			Enviroplex1			Consolidated
(dollar amounts in thousands)
Year Ended December 31,
2010
Rental Revenues	$	82,648		$	82,540		$	35,427		$	—		$	200,615
Rental Related Services Revenues		22,947			2,240			9,515			—			34,702
Sales and Other Revenues		21,117			22,982			289			11,695			56,083
Total Revenues		126,712			107,762			45,231			11,695			291,400
Depreciation of Rental Equipment		13,734			37,017			5,648			—			56,399
Gross Profit		56,902			43,449			27,685			2,753			130,789
Interest Expense (Income) Allocation		3,513			1,791			1,080			(198	)		6,186
Income before Provision for Income Taxes		25,080			19,263			14,444			263			59,050
Rental Equipment Acquisitions		22,948			42,406			52,353			—			117,707
Accounts Receivable, net (period end)		39,041			20,620			14,751			2,076			76,488
Rental Equipment, at cost (period end)		514,548			250,125			133,095			—			897,768
Rental Equipment, net book value (period end)		369,195			98,444			123,941			—			591,580
Utilization (period end)2		67.2	%		64.3	%		84.9	%
Average Utilization2		67.7	%		66.0	%		76.0	%
2009
Rental Revenues	$	92,331		$	75,500		$	18,611		$	—		$	186,442
Rental Related Services Revenues		25,174			1,970			6,208			—			33,352
Sales and Other Revenues		25,782			22,634			204			7,419			56,039
Total Revenues		143,287			100,104			25,023			7,419			275,833
Depreciation of Rental Equipment		13,718			40,175			3,322			—			57,215
Gross Profit		73,597			32,573			13,910			1,235			121,315
Interest Expense (Income) Allocation		4,199			2,213			893			(200	)		7,105
Income (Loss) before Provision for Income Taxes		42,090			8,482			4,451			(1,049	)		53,974
Rental Equipment Acquisitions		13,298			22,842			37,751			—			73,891
Accounts Receivable, net (period end)		41,165			20,578			7,313			1,541			70,597
Rental Equipment, at cost (period end)		504,018			239,152			80,916			—			824,086
Rental Equipment, net book value (period end) end)		367,939			101,902			77,397			—			547,238
Utilization (period end)2		69.0	%		63.1	%		67.6	%
Average Utilization2		73.4	%		61.4	%		70.3	%

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

2 Utilization is calculated each month by dividing the cost of rental equipment on rent by the total cost of rental equipment excluding new equipment inventory and accessory equipment. The average utilization for the period is calculated using the average costs of rental equipment.

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