Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2019

Summarized Financial Information for Company's Reportable Segments

Summarized financial information for the six months ended June 30, 2019 and 2018 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,
2019
Rental revenues	$	86,998		$	49,112		$	34,691		$	—		$	170,801
Rental related services revenues		30,372			1,562			13,988		—				45,922
Sales and other revenues		15,444			12,312			1,091			3,877			32,724
Total revenues		132,814			62,986			49,770			3,877			249,447
Depreciation of rental equipment		10,877			19,684			8,126		—				38,687
Gross profit		62,865			28,492			24,086			1,443			116,886
Selling and administrative expenses		31,047			12,063			14,894			2,506			60,510
Income (loss) from operations		31,818			16,429			9,192			(1,063	)		56,376
Interest (expense) income allocation		(3,761	)		(1,385	)		(1,646	)		546			(6,246	)
Income (loss) before provision for income taxes		28,057			15,130			7,546			(517	)		50,216
Rental equipment acquisitions		43,614			42,999			3,327		—				89,940
Accounts receivable, net (period end)		75,633			21,212			20,106			4,067			121,018
Rental equipment, at cost (period end)		854,076			307,639			315,571		—				1,477,286
Rental equipment, net book value (period end)		600,351			150,655			192,146		—				943,152
Utilization (period end) ²		79.6	%		67.3	%		55.3	%
Average utilization ²		79.1	%		65.7	%		57.1	%
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	%

Gross Enviroplex sales revenues were $3,877 and $6,524 for the six months ended June 30, 2019 and 2018, 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, 2019.

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.