Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2018

Summarized Financial Information for Company's Reportable Segments

Summarized financial information for the six months ended June 30, 2018 and 2017 for the Company’s reportable segments is shown in the following table:

(dollar amounts in thousands)	Mobile Modular			TRS- RenTelco			Adler Tanks			Enviroplex ¹			Consolidated
Six Months Ended June 30, 2018
Rental revenues	$	75,231		$	43,694		$	32,603		$	—		$	151,528
Rental related services revenues		24,322			1,514			11,081		—				36,917
Sales and other revenues		14,169			13,182			543			5,729			33,623
Total revenues		113,722			58,390			44,227			5,729			222,068
Depreciation of rental equipment		10,521			17,443			7,916		—				35,880
Gross profit		53,050			27,242			21,912			1,894			104,098
Selling and administrative expenses		28,930			11,560			14,658			2,459			57,607
Income (loss) from operations		24,120			15,682			7,254			(565	)		46,491
Interest (expense) income allocation		(3,422	)		(1,313	)		(1,576	)		320			(5,991	)
Income (loss) before provision for income taxes		20,698			13,993			5,678			(245	)		40,124
Rental equipment acquisitions		22,287			34,502			2,669		—				59,458
Accounts receivable, net (period end)		63,003			18,391			18,239			5,462			105,095
Rental equipment, at cost (period end)		789,158			278,253			312,168		—				1,379,579
Rental equipment, net book value (period end)		550,285			122,647			203,590		—				876,522
Utilization (period end) ²		77.2	%		62.8	%		61.3	%
Average utilization ²		77.3	%		62.8	%		58.5	%
2017
Rental revenues	$	68,684		$	39,551		$	29,696		$	—		$	137,931
Rental related services revenues		23,554			1,312			11,865		—				36,731
Sales and other revenues		12,703			10,990			1,153			4,911			29,757
Total revenues		104,941			51,853			42,714			4,911			204,419
Depreciation of rental equipment		10,666			16,071			7,884		—				34,621
Gross profit		47,578			23,847			19,832			1,624			92,881
Selling and administrative expenses		27,617			11,019			14,528			2,049			55,213
Income (loss) from operations		19,961			12,828			5,304			(425	)		37,668
Interest (expense) income allocation		(3,289	)		(1,126	)		(1,515	)		192			(5,738	)
Income (loss) before provision for income taxes		16,672			11,939			3,789			(233	)		32,167
Rental equipment acquisitions		21,531			25,510			2,558		—				49,599
Accounts receivable, net (period end)		57,268			18,443			15,918			4,910			96,539
Rental equipment, at cost (period end)		782,503			249,935			309,784		—				1,342,222
Rental equipment, net book value (period end)		551,101			96,547			215,559		—				863,207
Utilization (period end) ²		75.7	%		61.6	%		55.4	%
Average utilization ²		76.6	%		62.3	%		53.4	%

Gross Enviroplex sales revenues were $6,524 and $4,911 for the six months ended June 30, 2018 and 2017, respectively. There were $795 inter-segment sales to Mobile Modular in the six months ended June 30, 2018, which required elimination in consolidation. There were no inter-segment sales in the six months ended June 30, 2017.

Utilization is calculated each month by dividing the cost of rental equipment on rent by the total cost of rental equipment excluding accessory equipment and for Mobile Modular and Adler Tanks excluding new equipment inventory. The Average Utilization for the period is calculated using the average costs of rental equipment.