Property and Equipment

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE 6 — PROPERTY AND EQUIPMENT

Property and equipment, net, consisted of the following (amounts in millions):

	September 30,			December 31,
	2022			2021
Land	$	2.1		$	2.1
Rental fleet		502.5			461.4
Equipment and leasehold improvements:
Machinery and equipment		9.8			7.2
Autos and trucks		7.2			6.6
Leasehold improvements		14.4			10.6
Finance lease right-of-use assets		21.5			15.1
Office equipment		4.0			3.5
Computer equipment		12.2			11.1
Total cost	$	573.7		$	517.6
Less: accumulated depreciation and amortization
Rental fleet	$	(177.1	)	$	(149.8	)
Equipment, autos and trucks, leasehold improvements, finance leases and office and computer equipment		(29.3	)		(23.3	)
Total accumulated depreciation and amortization	$	(206.4	)	$	(173.1	)
Property and equipment, net	$	367.3		$	344.5

Total depreciation and amortization on property and equipment was $26.3 million and $22.3 million for the three months ended September 30, 2022 and 2021, respectively, and $71.7 million and $62.4 million for the nine months ended September 30, 2022 and 2021, respectively. The Company had assets related to finance leases with gross carrying values totaling $21.5 million and $15.1 million, and accumulated amortization balances totaling $4.9 million and $3.8 million, as of September 30, 2022 and December 31, 2021, respectively. Of the $502.5 million and $461.4 million of gross cost of rental fleet, $10.1 million and $9.7 million were represented by guaranteed purchase obligation assets as of September 30, 2022 and December 31, 2021, respectively.