Income Tax (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provision for income tax expense (benefit), including the amount of domestic and foreign loss before taxes, is as follows:

(in $000s)	2019			2018			2017
Components of loss before tax:
Domestic	$	(30,046	)	$	(12,454	)	$	(29,211	)
Foreign	(2,992		)	(1,367		)	(1,377		)
Total loss before tax	(33,038		)	(13,821		)	(30,588		)
Current tax expense:
Federal	—			—			—
Foreign	483			514			766
State	392			95			98
Total current tax expense	875			609			864
Deferred tax expense (benefit):
Federal	852			852			(4,843		)
Foreign	—			—			—
State	244			244			486
Total deferred tax expense	1,096			1,096			(4,357		)
Valuation allowance	(7,957		)	—			—
Total tax expense (benefit)	$	(5,986	)	$	1,705		$	(3,493	)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation between the federal statutory income tax rate and our actual effective income tax rate is as follows:

	2019		2018		2017
Expected federal income statutory tax rate	21.0	%	21.0	%	35.0	%
Tax effect of differences:
Permanent items
Foreign operations	(1.2	)%	(3.0	)%	(1.6	)%
Share-based payments	(0.1	)%	(1.8	)%	(1.3	)%
Effect of state income taxes, net of federal income tax benefit	5.0	%	(0.8	)%	0.9	%
Impact of TCJA	—	%	—	%	(37.6	)%
Change in valuation allowance	(8.4	)%	(27.4	)%	13.6	%
Other	1.8	%	(0.7	)%	2.4	%
Effective income tax rate	18.1	%	(12.7	)%	11.4	%

Schedule of Deferred Tax Assets and Liabilities

The components of the deferred tax assets and liabilities as of December 31, 2019 and 2018 are as follows:

(in $000s)	2019			2018
Deferred tax assets
Accounts receivable	$	1,486		$	2,105
Inventory	1,228			731
Transaction and debt costs	1,231			2,661
Compensation and benefits	459			46
Net operating loss carryforwards	76,382			79,423
Section 163j interest disallowance	22,583			4,824
Foreign tax credits, accrued expenses, and other	315			1,092
Total deferred tax assets	103,684			90,882
Less: valuation allowance	(34,385		)	(31,610		)
Total deferred tax assets, net	69,299			59,272
Deferred tax liabilities
Rental equipment	(58,887		)	(50,164		)
Intangible assets	(22,700		)	(20,299		)
Total deferred tax liabilities	(81,587		)	(70,463		)
Net deferred tax liability	$	(12,288	)	$	(11,191	)

Summary of Valuation Allowance

The following presents changes in the valuation allowance for the years ended December 31:

(in $000s)	2019			2018			2017
Valuation allowance - beginning of year	$	(31,610	)	$	(28,384	)	$	(32,528	)
Charged to benefit (expense)	(2,775		)	(3,226		)	4,144
Valuation allowance - end of year	$	(34,385	)	$	(31,610	)	$	(28,384	)