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Acquisitions
9 Months Ended
Sep. 30, 2018
Business Combinations [Abstract]  
Acquisitions

NOTE 6.  ACQUISITION

 

On August 1, 2018, the Company completed the purchase of the blast resistant module rental business of DropBox, Inc. (“DropBox”) for $7.9 million.  The Company accounted for this transaction as a business combination and the fair value of the purchased assets was allocated primarily to rental equipment totaling $7.7 million.  The remaining purchase price was allocated to trade name and customer relationships valued at $0.2 million, respectively, and deferred revenue of $0.2 million.  At September 30, 2018, $0.4 million related to the purchase price was included in accounts payable and accrued liabilities.  

 

The DropBox operating results are included in the Mobile Modular segment results since the date of acquisition.  Supplemental pro forma prior year information has not been provided as the historical financial results of DropBox were not significant.  Incremental transaction costs associated with the acquisition were not significant.