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Segment Reporting (Tables)
3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Segment Reporting

The following tables set forth certain information regarding each of the Company’s segments for the three-month periods indicated:

 

 

 

For the Three Months Ended March 31, 2020

 

 

 

Storage Solutions

 

 

 

 

 

 

 

 

 

 

 

North

America

 

 

United

Kingdom

 

 

Total

 

 

Tank &

Pump

Solutions

 

 

Consolidated

 

 

 

(In thousands)

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rental

 

$

96,469

 

 

$

18,275

 

 

$

114,744

 

 

$

25,912

 

 

$

140,656

 

Sales

 

 

5,284

 

 

 

1,922

 

 

 

7,206

 

 

 

1,110

 

 

 

8,316

 

Other

 

 

39

 

 

 

 

 

 

39

 

 

 

29

 

 

 

68

 

Total revenues

 

 

101,792

 

 

 

20,197

 

 

 

121,989

 

 

 

27,051

 

 

 

149,040

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rental, selling and general expenses

 

 

71,288

 

 

 

12,395

 

 

 

83,683

 

 

 

18,575

 

 

 

102,258

 

Cost of sales

 

 

3,061

 

 

 

1,477

 

 

 

4,538

 

 

 

564

 

 

 

5,102

 

Depreciation and amortization

 

 

9,305

 

 

 

1,770

 

 

 

11,075

 

 

 

6,417

 

 

 

17,492

 

Total costs and expenses

 

 

83,654

 

 

 

15,642

 

 

 

99,296

 

 

 

25,556

 

 

 

124,852

 

Income from operations

 

$

18,138

 

 

$

4,555

 

 

$

22,693

 

 

$

1,495

 

 

$

24,188

 

Interest expense, net of interest income

 

$

6,462

 

 

$

107

 

 

$

6,569

 

 

$

2,676

 

 

$

9,245

 

Income tax provision (benefit)

 

 

6,251

 

 

 

775

 

 

 

7,026

 

 

 

(387

)

 

 

6,639

 

Capital expenditures for additions to rental fleet,

   excluding acquisitions

 

 

5,200

 

 

 

337

 

 

 

5,537

 

 

 

4,514

 

 

 

10,051

 

 

 

 

For the Three Months Ended March 31, 2019

 

 

 

Storage Solutions

 

 

 

 

 

 

 

 

 

 

 

North

America

 

 

United

Kingdom

 

 

Total

 

 

Tank &

Pump

Solutions

 

 

Consolidated

 

 

 

(In thousands)

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rental

 

$

93,516

 

 

$

19,209

 

 

$

112,725

 

 

$

29,447

 

 

$

142,172

 

Sales

 

 

4,026

 

 

 

1,751

 

 

 

5,777

 

 

 

1,446

 

 

 

7,223

 

Other

 

 

225

 

 

 

 

 

 

225

 

 

 

41

 

 

 

266

 

Total revenues

 

 

97,767

 

 

 

20,960

 

 

 

118,727

 

 

 

30,934

 

 

 

149,661

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rental, selling and general expenses

 

 

58,956

 

 

 

13,670

 

 

 

72,626

 

 

 

19,608

 

 

 

92,234

 

Cost of sales

 

 

2,413

 

 

 

1,403

 

 

 

3,816

 

 

 

786

 

 

 

4,602

 

Depreciation and amortization

 

 

8,989

 

 

 

1,734

 

 

 

10,723

 

 

 

6,612

 

 

 

17,335

 

Total costs and expenses

 

 

70,358

 

 

 

16,807

 

 

 

87,165

 

 

 

27,006

 

 

 

114,171

 

Income from operations

 

$

27,409

 

 

$

4,153

 

 

$

31,562

 

 

$

3,928

 

 

$

35,490

 

Interest expense, net of interest income

 

$

7,930

 

 

$

135

 

 

$

8,065

 

 

$

2,695

 

 

$

10,760

 

Income tax provision

 

 

5,395

 

 

 

764

 

 

 

6,159

 

 

 

364

 

 

 

6,523

 

Capital expenditures for additions to rental fleet,

   excluding acquisitions

 

 

11,841

 

 

 

921

 

 

 

12,762

 

 

 

10,254

 

 

 

23,016

 

Assets Segments

 

Assets related to the Company’s reportable segments include the following:

 

 

 

Storage Solutions

 

 

 

 

 

 

 

 

 

 

 

North

America

 

 

United

Kingdom

 

 

Total

 

 

Tank &

Pump

Solutions

 

 

Consolidated

 

 

 

(In thousands)

 

As of March 31, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

474,809

 

 

$

54,028

 

 

$

528,837

 

 

$

181,216

 

 

$

710,053

 

Intangibles, net

 

 

3,234

 

 

 

219

 

 

 

3,453

 

 

 

47,176

 

 

 

50,629

 

Rental fleet, net

 

 

691,995

 

 

 

134,723

 

 

 

826,718

 

 

 

133,459

 

 

 

960,177

 

As of December 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

474,622

 

 

$

57,566

 

 

$

532,188

 

 

$

181,216

 

 

$

713,404

 

Intangibles, net

 

 

2,518

 

 

 

256

 

 

 

2,774

 

 

 

48,411

 

 

 

51,185

 

Rental fleet, net

 

 

689,424

 

 

 

144,436

 

 

 

833,860

 

 

 

132,363

 

 

 

966,223