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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Estimated Useful Lives and Residual Values of Company's Rental Equipment

The estimated useful lives and residual values of the Company’s rental equipment used for financial reporting purposes are as follows:

 

Relocatable modular buildings

 

18 years, 50% residual value

Relocatable modular accessories

 

3 to 18 years, no residual value

Blast resistant and kitchen modules

 

20 years, no residual value

Portable storage containers

25 years, 62.5% residual value

Electronic test equipment and accessories

 

1 to 8 years, no residual value

 

 

 

Property, Plant and Equipment from Continuing Operations

Property, plant and equipment from continuing operations consist of the following:

(dollar amounts in thousands)

 

Estimated
useful life

 

December 31,

 

 

 

in years

 

2024

 

 

2023

 

Land

 

Indefinite

 

$

88,605

 

 

$

75,143

 

Land improvements

 

20 – 50

 

 

77,221

 

 

 

65,931

 

Buildings

 

30

 

 

40,223

 

 

 

35,360

 

Furniture, office equipment and software

 

3 – 10

 

 

28,073

 

 

 

30,039

 

Vehicles and machinery

 

5 – 25

 

 

39,259

 

 

 

35,233

 

 

 

 

 

 

273,381

 

 

 

241,706

 

Less: accumulated depreciation

 

 

 

 

(91,042

)

 

 

(87,399

)

 

 

 

 

 

182,339

 

 

 

154,307

 

Construction in progress

 

 

 

 

15,100

 

 

 

14,807

 

 

 

 

 

$

197,439

 

 

$

169,114

 

Weighted-Average Common Stock Used to Calculate Basic and Diluted Earnings per Share The table below presents the weighted-average common stock used to calculate basic and diluted earnings per share:

(in thousands)

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Weighted-average common stock for calculating basic
   earnings per share

 

 

24,541

 

 

 

24,469

 

 

 

24,353

 

Effect of potentially dilutive securities from equity-based
   compensation

 

 

29

 

 

 

60

 

 

 

166

 

Weighted-average common stock for calculating diluted
   earnings per share

 

 

24,570

 

 

 

24,529

 

 

 

24,519

 

Summary of Allowance for Credit loss Activity

The allowance for credit loss activity was as follows:

(in thousands)

 

2024

 

 

2023

 

Beginning balance, January 1

 

$

2,801

 

 

$

2,300

 

Provision for credit losses

 

 

1,890

 

 

 

2,633

 

Acquired reserve from Vesta Modular (see Note 4)

 

 

 

 

 

250

 

Derecognition of reserve from discontinued operations (see Note 5)

 

 

 

 

 

(450

)

Write-offs, net of recoveries

 

 

(1,825

)

 

 

(1,932

)

Ending balance, December 31

 

$

2,866

 

 

$

2,801