Property and Equipment

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE 6 — PROPERTY AND EQUIPMENT

Property and equipment, net, consisted of the following:

	September 30,			December 31,
	2023			2022
Land	$	2.1		$	2.1
Rental fleet		590.2			516.4
Buildings, equipment, and leasehold improvements:
Machinery and equipment		7.8			8.6
Autos and trucks		6.9			7.1
Buildings and leasehold improvements		16.4			15.6
Construction in progress		8.1			4.3
Finance lease right-of-use assets		40.8			24.4
Office equipment		4.1			4.7
Computer equipment		12.7			13.1
Total cost		689.1			596.3
Less: accumulated depreciation and amortization:
Rental fleet		(206.6	)		(187.4	)
Buildings, equipment, autos and trucks, leasehold improvements, finance leases and office and computer equipment		(34.9	)		(31.1	)
Total accumulated depreciation and amortization		(241.5	)		(218.5	)
Property and equipment, net	$	447.6		$	377.8

Total depreciation and amortization on property and equipment was $29.9 million and $26.3 million for the three months ended September 30, 2023 and 2022, respectively, and $81.0 million and $71.7 million for the nine months ended September 30, 2023 and 2022, respectively. The Company had assets related to finance leases with gross carrying values totaling $40.8 million and $24.4 million, and accumulated amortization balances totaling $9.1 million and $5.4 million, as of September 30, 2023 and December 31, 2022, respectively. Of the $590.2 million and $516.4 million of gross cost of rental fleet, $9.5 million and $11.8 million were represented by guaranteed purchase obligation assets as of September 30, 2023 and December 31, 2022, respectively.