Summary of Significant Accounting Policies (Tables)

3 Months Ended

Sep. 30, 2020

Summary of Significant Accounting Policies

Schedule of inventories

Inventories are comprised of the following (in thousands):

	June 30,		September 30,
	2020		2020
Finished goods	$	17,347	$	16,239
Work in progress		1,161		1,639
Raw materials		2,420		2,314
	$	20,928	$	20,192

Schedule of property, plant and equipment

Property, plant and equipment consist of the following (in thousands):

	Estimated		June 30,		September 30,
	Useful Life		2020		2020
Land		—	$	2,168	$	2,168
Building and improvements		10 — 40 years		4,899		4,899
Transportation and plant equipment (including finance lease assets - see Note 9)		3 — 20 years		50,497		51,522
Furniture, fixtures and office equipment		3 — 10 years		14,583		14,910
				72,147		73,499
Less accumulated depreciation and amortization				(47,751)		(49,435)
			$	24,396	$	24,064

Schedule of other intangible assets

Other intangible assets include those with indefinite lives (trademark and trade name) and finite lives (primarily customer base and lists, non-compete agreements and deferred financing costs), as follows (in thousands):

	June 30, 2020						September 30, 2020
	Gross						Gross
	Carrying		Accumulated		Net Carrying		Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount		Amount		Amortization		Amount
Trademark and trade name	$	5,486	$	(453)	$	5,033	$	5,486	$	(453)	$	5,033
Customer base and lists		31,691		(19,612)		12,079		31,712		(20,286)		11,426
Non-compete agreements		8,651		(8,226)		425		8,669		(8,286)		383
Deferred financing costs		3,643		(2,769)		874		3,643		(2,893)		750
Other		2,828		(2,468)		360		2,948		(2,620)		328
	$	52,299	$	(33,528)	$	18,771	$	52,458	$	(34,538)	$	17,920

Schedule of revenues by type

In the following tables, total revenue is disaggregated by revenue type for the periods indicated. The tables also include a reconciliation of the disaggregated rental revenue to the Company’s reportable segments (in thousands).

	Quarter Ended September 30, 2020
	North America
									Corporate and				Asia –
	Leasing								Intercompany				Pacific
	Pac-Van		Lone Star		Combined		Manufacturing		Adjustments		Total		Leasing		Consolidated
Non-lease:
Sales lease inventories and fleet	$	16,834	$	20	$	16,854	$	—	$	—	$	16,854	$	12,811	$	29,665
Sales manufactured units		—		—		—		1,625		(1,268)		357		—		357
Total non-lease revenues		16,834		20		16,854		1,625		(1,268)		17,211		12,811		30,022
Leasing:
Rental revenue		24,148		1,106		25,254		—		(83)		25,171		12,058		37,229
Rental-related services		10,271		1,215		11,486		—		—		11,486		3,623		15,109
Total leasing revenues		34,419		2,321		36,740		—		(83)		36,657		15,681		52,338
Total revenues	$	51,253	$	2,341	$	53,594	$	1,625	$	(1,351)	$	53,868	$	28,492	$	82,360

	Quarter Ended September 30, 2019
	North America
									Corporate and				Asia –
	Leasing								Intercompany				Pacific
	Pac-Van		Lone Star		Combined		Manufacturing		Adjustments		Total		Leasing		Consolidated
Non-lease:
Sales lease inventories and fleet	$	16,918	$	—	$	16,918	$	—	$	—	$	16,918	$	11,873	$	28,791
Sales manufactured units		—		—		—		3,506		(1,333)		2,173		—		2,173
Total non-lease revenues		16,918		—		16,918		3,506		(1,333)		19,091		11,873		30,964
Leasing:
Rental revenue		25,254		4,481		29,735		—		(318)		29,417		11,943		41,360
Rental-related services		10,348		3,902		14,250		—		—		14,250		3,323		17,573
Total leasing revenues		35,602		8,383		43,985		—		(318)		43,667		15,266		58,933
Total revenues	$	52,520	$	8,383	$	60,903	$	3,506	$	(1,651)	$	62,758	$	27,139	$	89,897

Schedule of reconciliation of weighted average shares outstanding

	Quarter Ended September 30,
	2019	2020
Basic	30,205,248	29,693,856
Dilutive effect of common stock equivalents	1,135,184	823,871
Diluted	31,340,432	30,517,727