Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Summarized Financial Information for Company's Reportable Segments

Summarized financial information for the years ended December 31, 2020, 2019 and 2018, for the Company’s reportable segments is shown in the following tables:

(dollar amounts in thousands)	Mobile Modular			TRS- RenTelco			Adler Tanks			Enviroplex 1			Consolidated
Year Ended December 31,
2020
Rental revenues	$	188,719		$	109,083		$	53,988		$	—		$	351,790
Rental related services revenues		67,527			3,080			21,786		—				92,393
Sales and other revenues		65,278			28,648			1,708			32,737			128,371
Total revenues		321,524			140,811			77,482			32,737			572,554
Depreciation of rental equipment		22,967			46,472			16,427		—				85,866
Gross profit		155,874			60,864			34,079			12,929			263,746
Selling and administrative expenses		68,470			24,306			24,764			5,453			122,993
Income from operations		87,404			36,558			9,315			7,476			140,753
Interest expense (income) allocation		5,104			2,133			2,107			(557	)		8,787
Income before provision for income taxes		82,300			34,503			7,208			8,033			132,044
Rental equipment acquisitions		39,078			42,588			2,541		—				84,207
Accounts receivable, net (period end)		81,640			22,735			13,655			5,286			123,316
Rental equipment, at cost (period end)		882,115			333,020			315,706		—				1,530,841
Rental equipment, net book value (period end)		611,590			156,536			169,990		—				938,116
Utilization (period end) 2		76.0	%		67.4	%		39.8	%
Average utilization 2		77.2	%		66.2	%		44.6	%

Segment Data (Continued) (dollar amounts in thousands)	Mobile Modular			TRS- RenTelco			Adler Tanks			Enviroplex 1			Consolidated
Year Ended December 31,
2019
Rental revenues	$	182,316		$	103,704		$	67,869		$	—		$	353,889
Rental related services revenues		69,395			3,260			28,383		—				101,038
Sales and other revenues		49,299			24,519			1,671			39,814			115,303
Total revenues		301,010			131,483			97,923			39,814			570,230
Depreciation of rental equipment		22,071			41,948			16,372		—				80,391
Gross profit		143,618			60,748			47,014			14,785			266,165
Selling and administrative expenses		65,699			24,645			29,321			5,128			124,793
Income from operations		77,919			36,103			17,693			9,657			141,372
Interest expense (income) allocation		7,946			1,970			3,436			(1,021	)		12,331
Income before benefit for income taxes		69,973			34,217			14,257			10,678			129,125
Rental equipment acquisitions		75,433			89,759			4,826		—				170,018
Accounts receivable, net (period end)		83,182			23,788			17,281			3,848			128,099
Rental equipment, at cost (period end)		868,807			335,343			316,261		—				1,520,411
Rental equipment, net book value (period end)		610,048			172,413			185,039		—				967,500
Utilization (period end) 2		79.1	%		64.5	%		48.4	%
Average utilization 2		79.2	%		66.2	%		54.7	%
2018
Rental revenues	$	159,136		$	89,937		$	69,701		$	—		$	318,774
Rental related services revenues		54,696			3,300			24,911		—				82,907
Sales and other revenues		40,742			25,420			1,441			29,046			96,649
Total revenues		254,574			118,657			96,053			29,046			498,330
Depreciation of rental equipment		21,200			36,011			15,928		—				73,139
Gross profit		120,750			54,773			48,055			9,673			233,251
Selling and administrative expenses		58,017			22,823			30,026			4,904			115,770
Income from operations		62,733			31,950			18,029			4,769			117,481
Interest expense (income) allocation		7,132			2,696			3,252			(783	)		12,297
Income before benefit for income taxes		55,601			28,765			14,777			5,552			104,695
Rental equipment acquisitions		63,374			65,467			5,257		—				134,098
Accounts receivable, net (period end)		72,295			20,732			19,992			7,997			121,016
Rental equipment, at cost (period end)		817,375			285,052			313,573		—				1,416,000
Rental equipment, net book value (period end)		572,032			131,450			197,533		—				901,015
Utilization (period end) 2		79.3	%		62.1	%		56.4	%
Average utilization 2		78.2	%		62.7	%		59.9	%

1Gross Enviroplex sales revenues were $34,014, $39,814 and $30,407 in 2020, 2019 and 2018, respectively.  There were $1,277 and $1,361 inter-segment sales to Mobile Modular in 2020 and 2018, which have been eliminated in consolidation.  There were no inter-segment sales in 2019.

2Utilization 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.