Segments

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segments

Note 16: Segments

Our operations are primarily organized and managed by operating segment. Operating segment performance and resource allocations are primarily based on gross profit. The accounting policies of the reportable segments are consistent with those described in Note 2: Summary of Significant Accounting Policies to the financial statements. Intersegment sales and any related profits are eliminated in consolidation. We manage the business in three reporting segments: Equipment Rental Solutions (“ERS”), Truck and Equipment Sales (“TES”) and Aftermarket Parts and Services (“APS”). The segment operations are described in Note 1: Business and Organization to these financial statements. Segment information presented below has been adjusted for all prior periods, consistent with the current reportable segment presentation.

The Company’s segment results are presented in the tables below:

	Three Months Ended March 31,
	2022
(in $000s)	ERS		TES		APS		Total
Revenue:
Rental	$	105,561	$	—	$	3,584	$	109,145
Equipment sales	59,353		167,833		—		227,186
Parts and services	—		—		30,145		30,145
Total revenue	164,914		167,833		33,729		366,476
Cost of revenue:
Rentals/parts and services	24,791		—		24,950		49,741
Equipment sales	43,230		144,048		—		187,278
Depreciation of rental equipment	43,966		—		998		44,964
Total cost of revenue	111,987		144,048		25,948		281,983
Gross profit	$	52,927	$	23,785	$	7,781	$	84,493

	Three Months Ended March 31,
	2021
(in $000s)	ERS		TES		APS		Total
Revenue:
Rental	$	44,730	$	—	$	3,559	$	48,289
Equipment sales	10,485		7,502		—		17,987
Parts and services	—		—		12,023		12,023
Total revenue	55,215		7,502		15,582		78,299
Cost of revenue:
Rentals/parts and services	15,537		—		11,034		26,571
Equipment sales	6,740		6,925		—		13,665
Depreciation of rental equipment	16,885		—		959		17,844
Total cost of revenue	39,162		6,925		11,993		58,080
Gross profit	$	16,053	$	577	$	3,589	$	20,219

Total assets by operating segment are not disclosed herein because asset by operating segment data is not reviewed by the chief operating decision-maker (“CODM”) to assess performance and allocate resources.

Gross profit is the primary operating result whereby our segments are evaluated for performance and resource allocation. The following table presents a reconciliation of consolidated gross profit to consolidated loss before income taxes:

	Three Months Ended March 31,
(in $000s)	2022		2021
Gross Profit	$	84,493	$	20,219
Selling, general and administrative expenses	53,655		12,050
Amortization	13,335		754
Non-rental depreciation	3,047		21
Transaction expenses	4,648		10,448
Interest expense, net	19,156		14,906
Financing and other expense (income)	(9,080)		5,857
Income (Loss) Before Income Taxes	$	(268)	$	(23,817)

The following table presents total assets by country:

(in $000s)	March 31, 2022		December 31, 2021
Assets:
United States	$	2,655,329	$	2,653,058
Canada	90,750		30,708
	$	2,746,079	$	2,683,766