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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	Apr. 22, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	HEES
Entity Registrant Name	H&E Equipment Services, Inc.
Entity Central Index Key	0001339605
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		35,777,333

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
ASSETS
Cash	$ 6,442	$ 16,677
Receivables, net of allowance for doubtful accounts of $4,221 and $4,094, respectively	188,343	201,556
Inventories, net of reserves for obsolescence of $272 and $368, respectively	142,379	104,598
Prepaid expenses and other assets	12,646	10,508
Rental equipment, net of accumulated depreciation of $607,306 and $582,520, respectively	1,189,677	1,141,498
Property and equipment, net of accumulated depreciation and amortization of $144,604 and $142,662, respectively	118,759	115,121
Operating lease right-of-use assets, net of accumulated amortization of $2,729 at March 31, 2019	166,293
Finance lease right-of-use assets, net of accumulated amortization of $1,929 at March 31, 2019	487
Deferred financing costs, net of accumulated amortization of $13,895 and $13,717, respectively	3,347	3,000
Intangible assets, net of accumulated amortization of $4,272 and $3,320, respectively	34,729	28,380
Goodwill	142,490	105,843
Total assets	2,005,592	1,727,181
Liabilities:
Amounts due on senior secured credit facility	265,647	170,761
Accounts payable	115,494	101,840
Manufacturer flooring plans payable	26,350	23,666
Accrued expenses payable and other liabilities	61,622	73,371
Dividends payable	93	132
Senior unsecured notes, net of unaccreted discount of $3,048 and $3,168 and deferred financing costs of $1,975 and $2,052, respectively	944,977	944,780
Operating lease right-of-use liabilities	168,579
Finance lease right-of-use liabilities	725
Capital leases payable		726
Deferred income taxes	158,090	153,113
Deferred compensation payable	2,016	1,989
Total liabilities	1,743,593	1,470,378
Commitments and Contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 25,000,000 shares authorized; no shares issued
Common stock, $0.01 par value, 175,000,000 shares authorized; 39,808,072 and 39,748,562 shares issued at March 31, 2019 and December 31, 2018, respectively, and 35,778,807 and 35,733,569 shares outstanding at March 31, 2019 and December 31, 2018, respectively	397	396
Additional paid-in capital	232,362	231,174
Treasury stock at cost, 4,029,265 and 4,014,993 shares of common stock held at March 31, 2019 and December 31, 2018, respectively	(63,486)	(63,099)
Retained earnings	92,726	88,332
Total stockholders’ equity	261,999	256,803
Total liabilities and stockholders’ equity	$ 2,005,592	$ 1,727,181

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts receivables	$ 4,221	$ 4,094
Reserves for obsolescence inventories	272	368
Accumulated depreciation, rental equipment	607,306	582,520
Accumulated depreciation and amortization, property and equipment	144,604	142,662
Accumulated amortization, operating lease right-of-use assets	2,729
Accumulated amortization, finacing lease right-of-use assets	1,929
Accumulated amortization, deferred financing costs	13,895	13,717
Accumulated amortization, intangible assets	4,272	3,320
Unaccreted discount, net	3,048	3,168
Deferred financing costs	$ 1,975	$ 2,052
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	175,000,000	175,000,000
Common stock, shares issued	39,808,072	39,748,562
Common stock, shares outstanding	35,778,807	35,733,569
Treasury stock, shares	4,029,265	4,014,993

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Revenues	$ 313,638	$ 260,482
Cost of revenues:
Cost of revenues	199,938	167,897
Gross profit	113,700	92,585
Selling, general and administrative expenses	78,647	65,880
Merger costs	119	152
Gain on sales of property and equipment, net	741	773
Income from operations	35,675	27,326
Other income (expense):
Interest expense	(16,855)	(14,653)
Other, net	532	395
Total other expense, net	(16,323)	(14,258)
Income before provision for income taxes	19,352	13,068
Provision for income taxes	5,109	3,590
Net income	$ 14,243	$ 9,478
Net income per common share:
Basic	$ 0.40	$ 0.27
Diluted	$ 0.40	$ 0.26
Weighted average common shares outstanding:
Basic	35,787	35,592
Diluted	35,973	35,879
Dividends declared per common share outstanding	$ 0.275	$ 0.275
Equipment Rentals [Member]
Revenues:
Revenues	$ 176,129	$ 137,038
Cost of revenues:
Cost of revenues	98,191	79,841
Gross profit	77,938	57,197
Equipment Rentals [Member] \| Rentals Other [Member]
Cost of revenues:
Cost of revenues	16,275	12,100
Equipment Rentals [Member] \| Rental Depreciation [Member]
Cost of revenues:
Cost of revenues	57,148	46,469
Equipment Rentals [Member] \| Rental Expense [Member]
Cost of revenues:
Cost of revenues	24,768	21,272
New Equipment Sales [Member]
Revenues:
Revenues	59,103	46,493
Cost of revenues:
Cost of revenues	52,099	40,845
Gross profit	7,004	5,648
Used Equipment Sales [Member]
Revenues:
Revenues	29,634	24,853
Cost of revenues:
Cost of revenues	19,012	16,937
Gross profit	10,622	7,916
Parts Sales [Member]
Revenues:
Revenues	30,428	28,151
Cost of revenues:
Cost of revenues	22,289	20,617
Gross profit	8,139	7,534
Services Revenues [Member]
Revenues:
Revenues	15,568	15,036
Cost of revenues:
Cost of revenues	5,004	5,050
Gross profit	10,564	9,986
Other [Member]
Revenues:
Revenues	2,776	8,911
Cost of revenues:
Cost of revenues	3,343	4,607
Gross profit	$ (567)	$ 4,304

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income	$ 14,243	$ 9,478
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	6,479	5,884
Depreciation of rental equipment	57,148	46,469
Amortization of finance lease right-of-use assets	41
Amortization of intangible assets	952	705
Amortization of deferred financing costs	254	289
Accretion of note discount, net of premium amortization	120	120
Operating right-of-use lease liabilities, net	146
Provision for losses on accounts receivable	1,301	817
Provision for inventory obsolescence	42	67
Change in deferred income taxes	4,977	4,456
Stock-based compensation expense	1,188	1,319
Gain from sales of property and equipment, net	(741)	(773)
Gain from sales of rental equipment, net	(10,621)	(7,745)
Changes in operating assets and liabilities, net of acquisitions:
Receivables	17,605	22,414
Inventories	(58,062)	(88,674)
Prepaid expenses and other assets	(2,117)	(2,237)
Accounts payable	13,539	45,384
Manufacturer flooring plans payable	2,684	6,110
Accrued expenses payable and other liabilities	(10,137)	(15,799)
Deferred compensation payable	27	22
Net cash provided by operating activities	39,068	28,306
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired	(106,746)	(125,207)
Purchases of property and equipment	(7,221)	(4,505)
Purchases of rental equipment	(48,644)	(40,654)
Proceeds from sales of property and equipment	931	785
Proceeds from sales of rental equipment	28,292	23,430
Net cash used in investing activities	(133,388)	(146,151)
Cash flows from financing activities:
Borrowings on senior secured credit facility	447,503	294,229
Payments on senior secured credit facility	(352,617)	(294,229)
Dividends paid	(9,832)	(9,804)
Purchases of treasury stock	(387)
Payments of deferred financing costs	(525)	(88)
Payments of finance lease obligations	(57)
Payments of capital lease obligations		(57)
Net cash provided by (used in) financing activities	84,085	(9,949)
Net decrease in cash	(10,235)	(127,794)
Cash, beginning of period	16,677	165,878
Cash, end of period	6,442	38,084
Noncash asset purchases:
Assets transferred from new and used inventory to rental fleet	21,112	15,414
Purchases of property and equipment included in accrued expenses payable and other liabilities	345	(23)
Operating lease right-of-use assets and lease liabilities recorded upon adoption of ASC 842	162,814
Finance lease right-of-use assets and lease liabilities recorded upon adoption of ASC 842	782
Operating lease assets obtained in exchange for new operating lease liabilities	8,370
Cash paid during the period for:
Interest	29,481	28,633
Income taxes paid (net of refunds received)	$ (519)	$ (16)

Organization and Nature of Operations

3 Months Ended

Mar. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization and Nature of Operations

(1) Organization and Nature of Operations

Basis of Presentation

Our condensed consolidated financial statements include the financial position and results of operations of H&E Equipment Services, Inc. and its wholly-owned subsidiaries H&E Finance Corp., GNE Investments, Inc., Great Northern Equipment, Inc., H&E California Holding, Inc., H&E Equipment Services (California), LLC and H&E Equipment Services (Mid-Atlantic), Inc., collectively referred to herein as “we” or “us” or “our” or the “Company.”

The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such regulations. In the opinion of management, all adjustments (consisting of all normal and recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019, and therefore, the results and trends in these interim condensed consolidated financial statements may not be the same for the entire year. These interim condensed consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended December 31, 2018, from which the consolidated balance sheet amounts as of December 31, 2018 were derived.

All significant intercompany accounts and transactions have been eliminated in these condensed consolidated financial statements. Business combinations accounted for as purchases are included in the condensed consolidated financial statements from their respective dates of acquisition.

The nature of our business is such that short-term obligations are typically met by cash flows generated from long-term assets. Consequently, and consistent with industry practice, the accompanying condensed consolidated balance sheets are presented on an unclassified basis.

Historically, we have presented hauling revenues and related cost of sales associated with our equipment rental activities within Other Revenues and Other Cost of Sales. This presentation did not change upon our adoption of Topic 606 on January 1, 2018 as hauling activities are deemed a separate performance obligation under Topic 606 and SEC Regulation S-X permitted flexibility in the presentation of such revenues. However, given the presentation changes of certain ancillary fees required by Topic 842 as described in note 2 to these condensed consolidated financial statements, we believe that including equipment rental hauling revenues and related costs of sales within our Rental Revenues segment results in a more meaningful presentation and analysis of our equipment rental activities. In accordance with SEC Regulation S-X, the reclassification of equipment rental hauling revenues and related cost of sales from Other Revenues and Other Cost of Sales to Rental Revenues and Rental Other Cost of Sales is presented on a retrospective basis, meaning our condensed consolidated statements of income for the three month periods ended March 31, 2019 and 2018 include hauling revenues and related costs of sales presented within Equipment Rental Revenues and Rental Other Cost of Sales. The table below reconciles for the three month period ended March 31, 2018, our Revenues, Cost of Revenues and Gross Profit as previously reported to the current period presentation in this Quarterly Report on Form 10-Q.


$'s in thousands
	Three Month Period Ended March 31, 2018
		As Previously Reported	Hauling Fees	As Currently Reported
REVENUES
Equipment rentals		$ 129,361	$ 7,677	$ 137,038
New equipment sales		46,493	-	46,493
Used equipment sales		24,853	-	24,853
Parts sales		28,151	-	28,151
Services revenues		15,036	-	15,036
Other		16,588	(7,677)	8,911
Total revenues		260,482	-	260,482

COST OF REVENUES
Rental depreciation		46,469	-	46,469
Rental expense		21,272	-	21,272
Rental other		-	12,100	12,100
		67,741	12,100	79,841
New equipment sales		40,845	-	40,845
Used equipment sales		16,937	-	16,937
Parts sales		20,617	-	20,617
Services revenues		5,050	-	5,050
Other		16,707	(12,100)	4,607
Total cost of revenues		167,897	-	167,897
Gross Profit		$ 92,585	$ -	$ 92,585

Nature of Operations

As one of the largest integrated equipment services companies in the United States focused on heavy construction and industrial equipment, we rent, sell and provide parts and services support for four core categories of specialized equipment: (1) hi-lift or aerial work platform equipment; (2) cranes; (3) earthmoving equipment; and (4) industrial lift trucks. By providing equipment rental, sales, on-site parts, repair and maintenance functions under one roof, we are a one-stop provider for our customers’ varied equipment needs. This full service approach provides us with multiple points of customer contact, enables us to maintain a high quality rental fleet, as well as an effective distribution channel for fleet disposal and provides cross‑selling opportunities among our new and used equipment sales, rental, parts sales and services operations.

Significant Accounting Policies

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Significant Accounting Policies

(2) Significant Accounting Policies

We describe our significant accounting policies in note 2 of the notes to consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2018. During the three month period ended March 31, 2019, there were no significant

changes to those accounting policies, other than those policies impacted by our adoption of the new lease accounting standard, which is further described below in “Recent Accounting Pronouncements Adopted in Fiscal 2019”.

Use of Estimates

We prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America, which requires management to use its judgment to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosures at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reported period. These assumptions and estimates could have a material effect on our condensed consolidated financial statements. Actual results may differ materially from those estimates. We review our estimates on an ongoing basis based on information currently available, and changes in facts and circumstances may cause us to revise these estimates.

Recent Accounting Pronouncements

Pronouncements Not Yet Adopted

In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). This standard adds to U.S. GAAP an impairment model (known as the current expected credit loss (“CECL”) model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses, which is intended to result in the more timely recognition of losses. Under the CECL model, entities will estimate credit losses over the entire contractual term of the instrument (considering estimated prepayments, but not expected extensions or modifications) from the date of initial recognition of the financial instrument. Measurement of expected credit losses are to be based on relevant forecasts that affect collectability. The scope of financial assets within the CECL methodology is broad and includes trade receivables from certain revenue transactions and certain off-balance sheet credit exposures. Different components of the guidance require modified retrospective or prospective adoption. ASU 2016-13 will be effective for us as of January 1, 2020. While our review is ongoing, we believe ASU 2016-13 will only have applicability to our receivables from revenue transactions, or trade receivables, except those arising from our rental revenues as ASU 2016-13 does not apply to receivables arising from operating leases. Under Topic 606, revenue is recognized when, among other criteria, it is probable that the entity will collect the consideration to which it is entitled for goods or services transferred to a customer. At the point that trade receivables are recorded, they become subject to the CECL model and estimates of expected credit losses on trade receivables over their contractual life will be required to be recorded at inception based on historical information, current conditions, and reasonable and supportable forecasts. We are currently evaluating whether the new guidance, while limited to our non-operating lease trade receivables, will have an impact on our consolidated financial statements or existing internal controls.

In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (“ASU 2017-04”), which removes Step 2 of the current goodwill impairment test, which was required if there was an indication that an impairment may exist, and the second step required calculating the potential impairment by comparing the implied fair value of the reporting unit’s goodwill with the carrying amount of the goodwill. Under the new guidance, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount, and then recognizing an impairment charge for the amount by which the reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of the reporting unit’s goodwill. ASU 2017-04 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2019, with early adoption permitted and requires prospective adoption. Based upon our review of ASU 2017-04, we do not expect the guidance to have a material impact on our consolidated financial statements.

In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other – Internal-Use Software (Subtopic 350-40). This update aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This update will be effective for us in the first quarter of 2020. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.

In August 2018, the FASB issued ASU No. 2018-13, "Fair Value Measurement - Disclosure Framework," or ASU 2018-13. ASU 2018-13 modifies the disclosure requirements for fair value measurements. The amendments relate to disclosures regarding unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty and are to be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, and early adoption is permitted. We are currently evaluating the impact of ASU 2018-13 on our consolidated financial statements.

Recently Adopted Accounting Pronouncements

Leases

We adopted ASU No. 2016-02, Leases (Topic 842), on January 1, 2019. Topic 842 is an update to Topic 840, which was the lease accounting standard in effect through December 31, 2018. Topic 842 applies to us from both a lessor and a lessee perspective, as further described below.

Lessor Accounting

Our equipment rental business involves rental contracts with customers whereby we are the lessor in the transaction and therefore, we believe that such transactions are subject to Topic 842. We account for such rental contracts as operating leases pursuant to Topic 842, as well as pursuant to previous lease accounting guidance (Topic 840) in effect for periods prior to the effective date of Topic 842.

In accordance with Topic 842, certain ancillary fees that we charge our equipment rental customers result in a different presentation within our consolidated statements of income compared to our historical presentation of those items under previous lease accounting guidance. Specifically, amounts we charge our customers for loss damage waiver fees, environmental fees, and fuel and other recovery fees, upon adoption of Topic 842, are to be included within our Equipment Rentals segment rather than included within non-segmented Other Revenues as we have historically presented those items under previous lease accounting guidance. Likewise, the related cost of goods sold for these ancillary items under Topic 842 are to be presented within our Equipment Rentals segment rather than included in non-segmented Other Cost of Goods Sold as we have historically presented under previous lease accounting guidance.

We adopted Topic 842 on January 1, 2019 using the transition method that allowed us to initially apply Topic 842 as of January 1, 2019 and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. As such, Topic 842 will not be applied to periods prior to January 1, 2019. Therefore, the above changes as described are not reflected in our condensed consolidated statements of income for the three month period ended March 31, 2018. While the above changes resulting from our adoption of Topic 842 do not impact total consolidated revenues or total consolidated gross profit, the change does impact the comparability of our total Rental Revenues and total Other Revenues gross profit and resulting gross margins for 2019 compared to our previously reported gross profit and resulting gross margins for periods prior to January 1, 2019.

Lessee Accounting

Topic 842 requires leases with durations greater than twelve months to be recognized on the balance sheet. We adopted Topic 842 using the modified retrospective approach with an effective date as of the beginning of our fiscal year, January 1, 2019. Therefore, prior year financial statements were not recast under the new standard. We recognized an adjustment of less than $0.1 million to retained earnings upon adoption of Topic 842.

We elected the package of transition provisions available for expired or existing leases, which allowed us to carryforward our historical assessments of (1) whether contracts are or contain leases, (2) lease classification and (3) initial direct costs. We did not elect the use-of-hindsight practical expedient or the practical expedient pertaining to land easements. We elected not to apply Topic 842 to arrangements with lease terms of 12 months or less.

The adoption of Topic 842 had a material impact on our consolidated balance sheet related to operating leases. Upon adoption of Topic 842, we recognized additional operating lease liabilities, net of deferred rent, of $162.8 million. We also recognized corresponding right-of-use operating lease assets of $162.8 million. Finance lease liabilities recognized upon adoption of Topic 842 were $0.8 million and finance right-of-use lease assets were $0.5 million.

Topic 842 significantly expanded the disclosure requirements related to our leasing activities. Additional information and disclosures required by Topic 842 are presented in note 10 to these condensed consolidated financial statements.

Revenue Recognition

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). Under Topic 606, revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Entities may use a full retrospective approach or

report on the cumulative effect as of the date of adoption. We adopted this standard effective January 1, 2018 using the full retrospective transition method. As described above and in note 10 to these condensed consolidated financial statements, we adopted Topic 842 on January 1, 2019. We recognize revenue in accordance with two different accounting standards: 1) Topic 606 and 2) Topic 842. Under Topic 606, revenue from contracts with customers is measured based on the consideration specified in the contract with the customer, and excludes any sales incentives and amounts collected on behalf of third parties. A performance obligation is a promise in a contract to transfer a distinct good or service to a customer, and is the unit of account under Topic 606. Our contracts with customers generally do not include multiple performance obligations. We recognize revenue when we satisfy a performance obligation by transferring control over a product or service to a customer. The amount of revenue recognized reflects the consideration we expect to be entitled to in exchange for such products or services.

In the table below, revenue as presented in our condensed consolidated statement of income for the three month period ended March 31, 2019 and 2018 is summarized by type and by the applicable accounting standard.


	Three Month Period Ended March 31,
	2019			2018
	Topic 842	Topic 606	Total	Topic 840	Topic 606	Total
Revenues:
Rental revenues
Owned equipment rentals	$ 153,350	$ 274	$ 153,624	$ 123,734	$ 522	$ 124,256
Re-rent revenue	6,036	─	6,036	5,105	─	5,105
Ancillary and other rental revenues:
Delivery and pick-up	─	8,982	8,982	─	7,677	7,677
Other	7,487	─	7,487	─	─	─
Total ancillary rental revenues	7,487	8,982	16,469	─	7,677	7,677
Total equipment rental revenues	166,873	9,256	176,129	128,839	8,199	137,038
New equipment sales	─	59,103	59,103	─	46,493	46,493
Used equipment sales	─	29,634	29,634	─	24,853	24,853
Parts sales	─	30,428	30,428	─	28,151	28,151
Service revenues	─	15,568	15,568	─	15,036	15,036
Other	─	2,776	2,776	6,267	2,644	8,911
Total revenues	$ 166,873	$146,765	$ 313,638	$ 135,106	$ 125,376	$ 260,482

Revenues by reporting segment are presented in note 11 of our condensed consolidated financial statements, using the revenue captions reflected in our consolidated statements of income. We believe that the disaggregation of our revenues from contracts to customers as reflected above, coupled with further discussion below and the reporting segments in note 11, depict how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors.

Lease revenues (Topic 842)

Owned Equipment Rentals: Owned equipment rentals represent revenues from renting equipment. We account for these rental contracts as operating leases. We recognize revenue from equipment rentals in the period earned, regardless of the timing of billing to customers. A rental contract includes rates for daily, weekly or monthly use, and rental revenues are earned on a daily basis as rental contracts remain outstanding. Because the rental contracts can extend across multiple reporting periods, we record unbilled rental revenues and deferred rental revenues at the end of reporting periods so rental revenues earned is appropriately stated for the periods presented.

Re-rent revenue: Re-rent revenue reflects revenues from equipment that we rent from vendors and then rent to our customers. We account for such rentals as subleases. The accounting for re-rent revenue is the same as the accounting for owned equipment rentals described above.

“Other” equipment rental revenue is primarily comprised of (i) revenue from customers who purchase insurance to protect against potential damages or loss the equipment they rent, (ii) environmental charges associated with the rental of equipment, and (iii) fuel recovery fees charged to customers. Fuel consumption charges are recognized upon return of the rental equipment when fuel consumption by the customer, if any, can be measured. Income from environmental fees and damage waiver insurance policies are recognized when earned over the period the equipment is rented. Prior to our adoption of Topic 842 on January 1, 2019, these revenue items were included in other revenues as shown in the table above for the three month period ended March 31, 2018.

Revenues from contracts with customers (Topic 606)

The accounting for the types of revenues accounted for pursuant to Topic 606 are discussed below. Substantially all of our revenues under Topic 606 are recognized at a point-in-time rather than over time.

Rental revenues: An insignificant portion of our total equipment rental revenues are recognized pursuant to Topic 606 rather than pursuant to Topic 842. These revenues represent services performed by us in connection with the rental of equipment and are comprised of customer training fees on rented equipment and erection and dismantling services on rental equipment. Revenues for these services are recognized upon completion of such services. See discussion above regarding rental revenues recognized pursuant to Topic 842.

Delivery and pick-up: Delivery and pick-up revenue associated with renting equipment is recognized when the service is performed.

New equipment sales: Revenues from the sales of new equipment are recognized at the time of delivery to, or pick-up by, the customer, which is when the customer obtains control of the promised good.

Used equipment sales: Revenues from the sales of used equipment are recognized at the time of delivery to, or pick-up by, the customer, which is when the customer obtains control of the promised good.

Parts sales: Revenues from the sales of equipment parts are recognized at the time of pick-up by the customer for parts counter sales transactions. For parts that are shipped to a customer, we elected to use a practical expedient of Topic 606 and treat such shipping activities as fulfillment costs, thereby recognizing revenues at the time of shipment.

Services revenues: We derive our services primarily from maintenance and repair services to customers for their owned equipment. We recognize services revenues at the time such services are completed, which is when the customer obtains control of the promised service.

Other revenues: Other revenues relate primarily to hauling fees for transporting equipment sold to and from the customer and ancillary charges associated with equipment maintenance and repair services. Such revenues are recognized at the time the services are performed.

Receivables and contract assets and liabilities

We manage credit risk associated with our accounts receivables at the customer level. Because the same customers typically generate the revenues that are accounted for under both Topic 606 and Topic 842, the discussions below on credit risk and our allowance for doubtful accounts address our total revenues from Topic 606 and Topic 842.

We believe concentration of credit risk with respect to our receivables is limited because our customer base is comprised of a large number of geographically diverse customers. No single customer accounted for more than 10% of our revenues on an overall or segment basis for any of the periods presented in this Quarterly Report on Form 10-Q. We manage credit risk through credit approvals, credit limits and other monitoring procedures.

We maintain an allowance for doubtful accounts that reflects our estimate of the amount of our receivables that we will be unable to collect. We develop our estimate of this allowance based on our historical experience with specific customers, our understanding of our current economic circumstances and our own judgment as to the likelihood of ultimate payment. Our largest exposure to doubtful accounts is in our rental operations. We perform credit evaluations of customers and establish credit limits based on reviews of our customers’ current credit information and payment histories. We believe our credit risk is somewhat mitigated by our geographically diverse customer base and our credit evaluation procedures. During the year, we write-off customer account balances when we have exhausted reasonable collection efforts and determined that the likelihood of collection is remote. Such write-offs are charged against our allowance for doubtful accounts. Bad debt expense as a percentage of total revenues for the three month periods ended March 31, 2019 and 2018 were approximately 0.4% and 0.3%, respectively. The actual rate of future credit losses, however, may not be similar to past experience. Our estimate of doubtful accounts could change based on changing circumstances, including changes in the economy or in the particular circumstances of individual customers. Accordingly, we may be required to increase or decrease our allowance for doubtful accounts.

We do not have material contract assets, impairment losses associated therewith, or material contract liabilities associated with contracts with customers. Our contracts with customers do not generally result in material amounts billed to customers in excess of

recognizable revenue. We did not recognize material revenues during the three month periods ended March 31, 2019 or 2018 that was included in the contract liability balance as of the beginning of such periods.

Performance obligations

Most of our Topic 606 revenue is recognized at a point-in-time, rather than over time. Accordingly, in any particular period, we do not generally recognize a significant amount of revenue from performance obligations satisfied (or partially satisfied) in previous periods, and the amount of such revenue recognized during the three month periods ended March 31, 2019 and 2018 was not material. We also do not expect to recognize material revenue in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2019.

Payment terms

Our Topic 606 revenues do not include material amounts of variable consideration. Our payment terms vary by the type and location of our customer and the products or services offered. The time between invoicing and when payment is due is not significant. Our contracts do not generally include a significant financing component. Our contracts with customers do not generally result in significant obligations associated with returns, refunds or warranties. See above for a discussion of how we manage credit risk.

Sales tax amounts collected from customers are recorded on a net basis.

Contract costs

We do not recognize any assets associated with the incremental costs of obtaining a contract with a customer (for example, a sales commission) that we expect to recover. Most of our revenue is recognized at a point-in-time or over a period of one year or less, and we use the practical expedient that allows us to recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that we otherwise would have recognized is one year or less.

Contract estimates and judgments

Our revenues accounted for under Topic 606 generally do not require significant estimates or judgments as the transaction price is generally fixed and stated on our contracts. Our contracts generally do not include multiple performance obligations, and accordingly do not generally require estimates of the standalone selling price for each performance obligation. Also, our revenues do not include material amounts of variable consideration. Substantially all of our revenues are recognized at a point-in-time and the timing of the satisfaction of the applicable performance obligations is readily determinable. As noted above, our Topic 606 revenues are generally recognized at the time of delivery to, or pick-up by, the customer.

Acquisitions

3 Months Ended

Mar. 31, 2019

Business Combinations [Abstract]

Acquisitions

(3) Acquisitions

2018 Acquisitions

Contractors Equipment Center (“CEC”)

Effective January 1, 2018, we completed the acquisition of CEC, a non-residential construction focused equipment rental company with three branches located in the greater Denver, Colorado area. The acquisition significantly expands our presence in the Denver area and surrounding markets.

The aggregate consideration paid to the pre-acquisition owners of CEC was approximately $132.4 million. The acquisition and related fees and expenses were funded through available cash. The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date.


		$’s in thousands

Cash		$ 1,244
Accounts receivable		7,583
Inventory		504
Prepaid expenses and other assets		324
Rental equipment		55,342
Property and equipment		2,700
Intangible assets (1)		21,500
Total identifiable assets acquired		89,197
Accounts payable		(1,023)
Accrued expenses payable and other liabilities		(876)
Total liabilities assumed		(1,899)
Net identifiable assets acquired		87,298
Goodwill (2)		45,092
Net assets acquired		$ 132,390

(1)

The following table reflects the estimated fair values and useful lives of the acquired intangible assets identified based on our purchase accounting assessments:


	Fair Value (amounts in thousands)	Life (years)
Customer relationships	$ 21,000	10
Tradenames	300	1
Leasehold interests	200	10
	$ 21,500

(2)

We have allocated the $45.1 million goodwill among our six goodwill reporting units as follows (amounts in thousands):


Rental Component 1	$25,233
Rental Component 2	18,391
New Equipment	217
Used Equipment	632
Parts	379
Service	240

The level of goodwill that resulted from the CEC acquisition is primarily reflective of CEC’s going-concern value, the value of CEC’s assembled workforce, new customer relationships expected to arise from the acquisition and expected synergies from combining operations. We currently expect the goodwill recognized to be 100% deductible for income tax purposes.

Total CEC acquisition costs were $1.0 million. Since our acquisition of CEC on January 1, 2018, significant amounts of equipment rental fleet have been moved between H&E locations and the acquired CEC locations, and it is impractical to reasonably estimate the amount of CEC revenues and earnings since the acquisition date.

Rental, LLC (dba “Rental Inc.”)

Effective April 1, 2018, we completed the acquisition of Rental Inc., a non-residential equipment rental and distribution company with five branches located in Alabama, Florida and Western Georgia. The acquisition expands our presence in the surrounding markets.

The aggregate consideration paid to the owners of Rental Inc. was approximately $68.6 million. The acquisition and related fees and expenses were funded through available cash and from borrowings under our Credit Facility (as defined below). The following table summarizes the fair value of the assets acquired and liabilities assumed as of the acquisition date.


		$’s in thousands

Cash		$ 260
Accounts receivable		2,873
Inventory		5,324
Prepaid expenses and other assets		47
Rental equipment		22,578
Property and equipment		1,935
Intangible assets (1)		10,200
Total identifiable assets acquired		43,217
Accounts payable		(439)
Manufacturer flooring plans payable		(3,293)
Accrued expenses payable and other liabilities		(469)
Total liabilities assumed		(4,201)
Net identifiable assets acquired		39,016
Goodwill (2)		29,554
Net assets acquired		$ 68,570

(1)

The following table reflects the estimated fair values and useful lives of the acquired intangible assets identified based on our purchase accounting assessments:


	Fair Value (amounts in thousands)	Life (years)
Customer relationships	$ 10,000	10
Tradenames	200	1
	$ 10,200

(2)

We have allocated the $29.6 million goodwill among our six goodwill reporting units as follows (amounts in thousands):


Rental Component 1	$9,064
Rental Component 2	5,445
New Equipment	10,217
Used Equipment	1,692
Parts	2,171
Service	964

Included in the total goodwill amount of $29.6 million is approximately $3.4 million of accrued purchase price consideration that is to be paid to the sellers pursuant to the terms of the purchase agreement among the parties named thereto. The level of goodwill that resulted from the Rental Inc. acquisition is primarily reflective of Rental Inc.’s going-concern value, the value of Rental Inc.’s assembled workforce, new customer relationships expected to arise from the acquisition and expected synergies from combining operations. We currently expect the goodwill recognized to be 100% deductible for income tax purposes.

Total Rental Inc. acquisition costs were approximately $0.3 million. Since our acquisition of Rental Inc. on April 1, 2018, significant amounts of equipment rental fleet have been moved between H&E locations and the acquired Rental Inc. locations, and it is impractical to reasonably estimate the amount of Rental Inc. revenues and earnings since the acquisition date.

2019 Acquisition

Cobra Equipment Rentals LLC (dba “We-Rent-It”)

Effective February 1, 2019, we completed the acquisition of We-Rent-It (“WRI”), an equipment rental company with six branches located in central Texas. The acquisition expands our presence in the surrounding markets.

The aggregate consideration paid to the owners of WRI was approximately $108.5 million. The acquisition and related fees and expenses were funded from borrowings under our Credit Facility (defined below). The following table summarizes the estimated fair value of the assets acquired and liabilities assumed as of the acquisition date. The amounts presented below are preliminary and are subject to change.


		$’s in thousands

Cash		$ 1,745
Accounts receivable		5,149
Inventory		873
Prepaid expenses and other assets		544
Rental equipment		53,242
Property and equipment		3,959
Other assets		21
Intangible assets (1)		7,300
Total identifiable assets acquired		72,833
Accounts payable		(115)
Accrued expenses payable and other liabilities		(874)
Total liabilities assumed		(989)
Net identifiable assets acquired		71,844
Goodwill		36,647
Net assets acquired		$ 108,491

(1)

The following table reflects the estimated fair values and useful lives of the acquired intangible assets identified based on our purchase accounting assessments:


	Fair Value (amounts in thousands)	Life (years)
Customer relationships	$ 7,300	10

The analysis of assigning the above $36.6 million goodwill among our six goodwill reporting units has not been finalized. The level of goodwill that resulted from the WRI acquisition is primarily reflective of WRI’s going-concern value, the value of WRI’s assembled workforce, new customer relationships expected to arise from the acquisition and expected synergies from combining operations. We currently expect the goodwill recognized to be 100% deductible for income tax purposes.

Total WRI acquisition costs were $0.3 million. Total revenues attributable to WRI since the February 1, 2019 acquisition were $5.9 million for the three month period ended March 31 2019. Estimated net income attributable to WRI since the acquisition was approximately $0.8 million, or $0.02 per share, for the three month period ended March 31, 2019. It should be noted that as we integrate WRI into H&E’s operations, significant amounts of rental fleet will be moved between H&E locations and WRI locations, such that reasonably estimating WRI acquisition revenues and earnings will likely become impractical to do.

Pro forma financial information

We completed the CEC acquisition on January 1, 2018. Therefore, the operating results of CEC are included in our reported condensed consolidated statements of income for the full three month periods ended March 31, 2019 and 2018. We completed the Rental Inc. acquisition on April 1, 2018. Therefore, our reported condensed consolidated statements of income for the three month period ended March 31, 2018 do not include Rental Inc. for the period January 1, 2018 through March 31, 2018. We completed the We-Rent-It acquisition on February 1, 2019. Therefore, our reported condensed consolidated statements includes We-Rent-It for the period of February 1, 2019 through March 31, 2019.

Pursuant to ASC 805, pro forma disclosures should be repeated whenever the year or interim period of the acquisition is presented. Since the CEC acquisition was completed in the first quarter of 2018, the pro forma information below gives effect to the CEC acquisition as if the acquisition occurred on January 1, 2017 (the CEC pro forma acquisition date) for the three month period ended March 31, 2017.




	(amounts in thousands)
	Three Month Period Ended March 31, 2017
	H&E	CEC	Total
Total revenues (1)	$ 226,828	$ 8,389	$ 235,217

Pretax income	8,530	1,441	9,971
Pro forma adjustments to pretax income:
Impact of fair value mark-ups/useful life changes on depreciation (2)		(903)	(903)
Intangible asset amortization (3)		(705)	(705)
Pro forma pretax income (loss)	8,530	(167)	8,363
Income tax expense (benefit)	3,140	(63)	3,077
Net income (loss)	$ 5,390	$ (104)	$ 5,286
Net income per share - basic	$ 0.15	$ ─	$ 0.15
Net income per share – diluted	$ 0.15	$ ─	$ 0.15

(1)

There were no nonrecurring pro forma adjustments directly attributable to the CEC acquisition included in the reported pro forma total revenues.

(2)

Depreciation of rental equipment and non-rental equipment were adjusted for the fair value markups, and the changes in useful lives and salvage values of the equipment acquired in the CEC acquisition.

(3)

Represents the amortization of the intangible assets acquired in the CEC acquisition.

The pro forma information below gives effect to the WRI acquisition as if it had been completed on January 1, 2018 (the WRI pro forma acquisition date). Because the Rental Inc. acquisition occurred in the second quarter of 2018 and the acquisition is not included in our condensed consolidated statements of income for the three month period March 31, 2018, pro forma information, pursuant to ASC 805, is not required to be presented in this Quarterly Report on Form 10-Q.

The pro forma information below is not necessarily indicative of our results of operations had the acquisitions been completed on the above date, nor is it necessarily indicative of our future results. The pro forma information does not reflect any cost savings from operating efficiencies or synergies that could result from the acquisitions, nor does it reflect additional revenue opportunities following the acquisition. The pro forma adjustments reflected in the table below are subject to change as additional analysis is performed. The tables below present unaudited pro forma consolidated statements of income information for the three month period ended March 31, 2018 as if WRI was included in our consolidated results for the entire period presented.


	(amounts in thousands, except per share data)
	Three Month Period Ended March 31, 2018
	H&E(1)	We-Rent-It	Total
Total revenues	$260,482	$7,587	$268,069

Pretax income	13,068	784	13,852
Pro forma adjustments to pretax income:
Impact of fair value mark-ups/useful life changes on depreciation (2)	—	(250)	(250)
Intangible asset amortization (3)	—	(122)	(122)
Interest expense (4)	—	(1,356)	(1,356)
Elimination of historic interest expense (5)	—	80	80
Pro forma pretax income (loss)	13,068	(864)	12,204
Income tax expense (benefit)	3,590	(235)	3,355
Net income (loss)	$ 9,478	$ (629)	$8,849
Net income (loss) per share – basic	$ 0.27	$(0.02)	$ 0.25
Net income (loss) per share - diluted	$ 0.26	$(0.02)	$ 0.25

(1)

Amounts presented above for “H&E” are derived from the Company’s consolidated statements of income in this Quarterly Report on Form 10-Q for the three month period ended March 31, 2018.

(2)

Depreciation of rental equipment and non-rental equipment were adjusted for the fair value markups, and the changes in useful lives and salvage values of the equipment acquired in the acquisition.

(3)

Represents the amortization of the intangible asset acquired in the acquisition.

(4)

Interest expense was adjusted to reflect the additional debt resulting from the acquisition.

(5)

Represents the elimination of historic debt of WRI that is not part of the combined entity.

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

(4) Fair Value of Financial Instruments

Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The FASB fair value measurement guidance established a fair value hierarchy that prioritizes the inputs used to measure fair value. The three broad levels of the fair value hierarchy are as follows:

Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities

Level 2 – Quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly

Level 3 – Unobservable inputs for which little or no market data exists, therefore requiring a company to develop its own assumptions

The carrying value of financial instruments reported in the accompanying condensed consolidated balance sheets for cash, accounts receivable, accounts payable and accrued expenses payable and other liabilities approximate fair value due to the immediate or short-term nature or maturity of these financial instruments. The fair value of our letter of credit is based on fees currently charged for similar agreements. The carrying amounts and fair values of our other financial instruments subject to fair value disclosures as of March 31, 2019 and December 31, 2018 are presented in the table below (amounts in thousands) and have been calculated based upon market quotes and present value calculations based on market rates.

	March 31, 2019
	Carrying Amount		Fair Value
Manufacturer flooring plans payable with interest computed at 5.50% (Level 3)	$	26,350	$	22,281
Senior unsecured notes with interest computed at 5.625% (Level 2)		944,977		947,625
Letter of credit (Level 3)		—		97

	December 31, 2018
	Carrying Amount		Fair Value
Manufacturer flooring plans payable with interest computed at 5.50% (Level 3)	$	23,666	$	19,870
Senior unsecured notes with interest computed at 5.625% (Level 2)		944,780		871,625
Capital leases payable with interest computed at 5.929% to 9.55% (Level 3)		726		330
Letter of credit (Level 3)		—		116

During the three month period ended March 31, 2019 and 2018, there were no transfers of financial assets or liabilities in or out of Level 1, Level 2 or Level 3 of the fair value hierarchy.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Stockholders' Equity

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Stockholders' Equity

(5) Stockholders’ Equity

The following table summarizes the activity in Stockholders’ Equity for the three month period ended March 31, 2019 and March 31, 2018, respectively (amounts in thousands, except share data):

	Common Stock				Additional								Total
	Shares Issued		Amount		Paid-in Capital		Treasury Stock			Retained Earnings			Stockholders’ Equity
Balances at December 31, 2018		39,748,562	$	396	$	231,174	$	(63,099	)	$	88,332		$	256,803
Stock-based compensation		—		—		1,188		—			—			1,188
Cash dividends declared on common stock ($0.275 per share)		—		—		—		—			(9,793	)		(9,793	)
Issuance of common stock, net of forfeitures		59,510		1				—			—			1
Repurchase of 14,272 shares of restricted common stock		—		—		—		(387	)		—			(387	)
Cumulative effect adjustment pursuant to the adoption of ASC 842		—		—		—		—			(56	)		(56	)
Net income		—		—		—		—			14,243			14,243
Balances at March 31, 2019		39,808,072	$	397	$	232,362	$	(63,486	)	$	92,726		$	261,999

Balances at December 31, 2017		39,623,773	$	395	$	227,070	$	(61,749	)	$	51,077		$	216,793
Stock-based compensation		—		—		1,319		—			—			1,319
Cash dividends declared on common stock ($0.275 per share)		—		—		—		—			(9,845	)		(9,845	)
Issuance of common stock, net of forfeitures		9,534		—		—		—			—			—
Net income		—		—		—		—			9,478			9,478
Balances at March 31, 2018		39,633,307	$	395	$	228,389	$	(61,749	)	$	50,710		$	217,745

Stock-Based Compensation

3 Months Ended

Mar. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

(6) Stock-Based Compensation

We account for our stock-based compensation plans using the fair value recognition provisions of Accounting Standards Codification (“ASC”) 718, Stock Compensation (“ASC 718”). Under the provisions of ASC 718, stock-based compensation is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the requisite employee service period (generally the vesting period of the grant). Shares available for future stock-based payment awards under our 2016 Stock-Based Incentive Compensation Plan were 1,760,106 shares as of March 31, 2019.

Non-vested Stock

The following table summarizes our non-vested stock activity for the nine months ended March 31, 2019:

	Number of Shares			Weighted Average Grant Date Fair Value
Non-vested stock at December 31, 2018		379,559		$	25.87
Granted		20,923		$	26.77
Vested		(57,296	)	$	21.60
Forfeited		(25,120	)	$	19.80
Non-vested stock at March 31, 2019		318,066		$	27.18

As of March 31, 2019, we had unrecognized compensation expense of approximately $4.2 million related to non-vested stock that we expect to be recognized over a weighted-average period of approximately 1.7 years. The following table summarizes compensation expense related to non-vested stock, which is included in selling, general and administrative expenses in the accompanying condensed consolidated statements of income for the three months ended March 31, 2019 and 2018 (amounts in thousands):

For the Three Months Ended

March 31,

2019

2018

Compensation expense

1,188

1,319

Income per Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Income per Share

(7) Income per Share

Income per common share for the three months ended March 31, 2019 and 2018 are based on the weighted average number of common shares outstanding during the period. The effects of potentially dilutive securities that are anti-dilutive are not included in the computation of dilutive income per share. We include all common shares granted under our incentive compensation plan which remain unvested (“restricted common shares”) and contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid (“participating securities”), in the number of shares outstanding in our basic and diluted EPS calculations using the two-class method. All of our restricted common shares are currently participating securities.

Under the two-class method, earnings per common share are computed by dividing the sum of distributed earnings allocated to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding for the period. In applying the two-class method, distributed and undistributed earnings are allocated to both common shares and restricted common shares based on the total weighted average shares outstanding during the period. The number of restricted common shares outstanding was approximately 0.7% of total outstanding shares for each of the three months ended March 31, 2019 and 2018, and, consequently, was immaterial to the basic and diluted EPS calculations. Therefore, use of the two-class method had no impact on our basic and diluted EPS calculations for the periods presented. The following table sets forth the computation of basic and diluted net income per common share for the three months ended March 31, 2019 and 2018 (amounts in thousands, except per share amounts):

	Three Months Ended
	March 31,
	2019		2018
Basic net income per share:
Net income	$	14,243	$	9,478
Weighted average number of common shares outstanding		35,787		35,592
Net income per share of common stock – basic	$	0.40	$	0.27
Diluted net income per share:
Net income	$	14,243	$	9,478
Weighted average number of common shares outstanding		35,787		35,592
Effect of dilutive securities:
Effect of dilutive non-vested restricted stock		186		287
Weighted average number of common shares outstanding – diluted		35,973		35,879
Net income per share of common stock – diluted	$	0.40	$	0.26
Common shares excluded from the denominator as anti-dilutive:
Non-vested restricted stock		37		—

Senior Secured Credit Facility

3 Months Ended

Mar. 31, 2019

Secured Debt [Member]

Senior Secured Credit Facility

(8) Senior Secured Credit Facility

We and our subsidiaries are parties to a $750.0 million Credit Facility with Wells Fargo Capital Finance, LLC as administrative agent, and the lenders named therein (the “Credit Facility”).

On December 22, 2017, we amended, extended and restated the Credit Facility by entering into the Fifth Amended and Restated Credit Agreement (the “Amended and Restated Credit Agreement”) by and among the Company, Great Northern Equipment, Inc., H&E Equipment Services (California), LLC, the other credit parties named therein, the lenders named therein, Wells Fargo Capital

Finance, LLC, as administrative agent, the other credit parties named therein, the lenders named therein, and the joint lead arrangers, joint book runners, co-syndication agents and documentation agent named therein.

The Amended and Restated Credit Agreement, among other things, (i) extended the maturity date of the Credit Facility from May 21, 2019 to December 22, 2022, (ii) increased the commitments under the senior secured asset based revolver provided for therein from $602.5 million to $750 million, (iii) increased the uncommitted incremental revolving capacity from $150 million to $250 million, (iv) provided that the unused line fee margin will be either 0.375% or 0.25%, depending on the Average Revolver Usage (as defined in the Amended and Restated Credit Agreement) of the borrowers, (v) lowered the interest rate (a) in the case of base rate revolving loans, to the base rate plus an applicable margin of 0.50% to 1.00% depending on the Average Availability (as defined in the Amended and Restated Credit Agreement) and (b) in the case of LIBOR revolving loans, to LIBOR (as defined in the Amended and Restated Credit Agreement) plus an applicable margin of 1.50% to 2.00%, depending on the Average Availability, (vi) lowered the margin applicable to the letter of credit fee to between 1.50% and 2.00%, depending on the Average Availability, and (vii) permitted, subject to certain conditions, an unlimited amount of Permitted Acquisitions, Restricted Payments and prepayments of Indebtedness (in each case, as defined in the Amended and Restated Credit Agreement).

On February 1, 2019, we further amended and extended the Amended and Restated Credit Agreement with the First Amendment to the Fifth Amended and Restated Credit Agreement (the “First Amendment”) by and among the Company, Great Northern Equipment, Inc., H&E Equipment Services (California), LLC, H&E Equipment Services (Mid-Atlantic), LLC, the other credit parties named therein, the lenders named therein, Wells Fargo Capital Finance, LLC, as administrative agent, the other credit parties named therein, the lenders named therein, and the joint lead arrangers, joint book runners, co-syndication agents and documentation agent named therein.

The First Amendment, among other things, (i) extended the maturity date of the credit facility from December 22, 2022 to January 31, 2024, and (ii) lowered the interest rate in the case of LIBOR revolving loans, to LIBOR plus an applicable margin of 1.25% to 1.75%, depending on the Average Availability and (iii) lowered the interest rate in the case of Base Rate loans, to the Base Rate (as defined in the Amended and Restated Credit Agreement) plus an applicable margin of 0.25% to 0.75%, depending on the Average Availability.

The Amended and Restated Credit Agreement continues to provide for, among other things, a $30 million letter of credit sub-facility, and a guaranty by certain of the Company’s subsidiaries of the obligations under the Credit Facility. In addition, the Credit Facility remains secured by substantially all of the assets of the Company and certain of its subsidiaries.

As of March 31, 2019, we were in compliance with our financial covenants under the Amended and Restated Credit Agreement. At March 31, 2019, we had $265.6 million of borrowings outstanding under the Credit Facility and could borrow up to approximately $476.7 million and remain in compliance with the debt covenants under the Credit Facility. At April 22, 2019, we had $462.1 million of available borrowings under our Credit Facility, net of a $7.7 million outstanding letter of credit.

Senior Unsecured Notes

3 Months Ended

Mar. 31, 2019

Senior Unsecured Notes [Member]

Debt Instrument [Line Items]

Senior Secured Credit Facility

(9) Senior Unsecured Notes

On August 24, 2017, we completed an offering of $750 million aggregate principal amount of 5.6250% senior notes due 2025 (the “New Notes”) and the settlement of a cash tender offer (the “Tender Offer”) with respect to our 7% senior notes due 2022 (the “Old Notes”). Net proceeds, after deducting $10.3 million of estimated offering expenses, from the sale of the New Notes totaled approximately $739.7 million. We used a portion of the net proceeds from the sale of the New Notes to repurchase $329.7 million of aggregate principal amount of the Old Notes in early settlement of the Tender Offer, which the Company launched on August 17, 2017. Holders who tendered their Old Notes prior to the early tender deadline received $1,038.90 per $1,000 principal amount of Old Notes tendered, plus accrued and unpaid interest up to, but not including, the payment date of August 24, 2017. Effective as of August 24, 2017, we (i) provided notice of the redemption of all remaining Old Notes that were not validly tendered in the Tender Offer at the expiration time and (ii) satisfied and discharged the indenture governing the Old Notes in accordance with its terms. On September 25, 2017, we redeemed the remaining $300.3 million principal amount outstanding of the Old Notes at a redemption price equal to 103.50% of the principal amount thereof, plus accrued and unpaid interest up to, but not including, the date of redemption.

The New Notes were issued at par and require semiannual interest payments on March 1st and September 1st of each year, commencing on March 1, 2018. No principal payments are due until maturity (September 1, 2025).

The New Notes are redeemable, in whole or in part, at any time on or after September 1, 2020 at specified redemption prices plus accrued and unpaid interest to the date of redemption. We may redeem up to 40% of the aggregate principal amount of the New Notes before September 1, 2020 with the net cash proceeds from certain equity offerings. We may also redeem the New Notes prior to September 1, 2020 at a specified “make-whole” redemption price plus accrued and unpaid interest to the date of redemption.

The New Notes rank equally in right of payment to all of our existing and future senior indebtedness and rank senior to any of our subordinated indebtedness. The New Notes are unconditionally guaranteed on a senior unsecured basis by all of our current and future significant domestic restricted subsidiaries. In addition, the New Notes are effectively subordinated to all of our and the guarantors’ existing and future secured indebtedness, including the Credit Facility, to the extent of the assets securing such indebtedness, and are structurally subordinated to all of the liabilities and preferred stock of any of our subsidiaries that do not guarantee the New Notes.

If we experience a change of control, we will be required to offer to purchase the New Notes at a repurchase price equal to 101% of the principal amount, plus accrued and unpaid interest to the date of repurchase.

The indenture governing the New Notes contains certain covenants that, among other things, limit our ability and the ability of our restricted subsidiaries to: (i) incur additional indebtedness, assume a guarantee or issue preferred stock; (ii) pay dividends or make other equity distributions or payments to or affecting our subsidiaries; (iii) purchase or redeem our capital stock; (iv) make certain investments; (v) create liens; (vi) sell or dispose of assets or engage in mergers or consolidations; (vii) engage in certain transactions with subsidiaries or affiliates; (viii) enter into sale-leaseback transactions; and (ix) engage in certain business activities. Each of the covenants is subject to exceptions and qualifications. As of March 31, 2019, we were in compliance with these covenants.

On November 22, 2017, we closed on an offering of $200 million aggregate principal amount of 5.625% senior notes due 2025 (the “Add-on Notes”) in an unregistered offering through a private placement. The Add-on Notes were priced at 104.25% of the principal amount. Net proceeds from the offering of the Add-on Notes, including accrued interest from August 24, 2017 totaled approximately $209.2 million. The net proceeds of the offering, was used to repay indebtedness outstanding under the Credit Facility and for the payment of fees and expenses related to the offering. The remainder of the net proceeds will be used for general corporate purposes and to fund potential acquisitions in connection with our ongoing strategy of acquiring rental companies to complement our existing business and footprint.

The Add-on Notes were issued as additional notes under an indenture dated as of August 24, 2017, pursuant to which we previously issued the New Notes as described above. The Add-on Notes have identical terms to, rank equally with and form a part of a single class of securities with the New Notes.

Pursuant to a registration rights agreement entered into between us, the guarantors of the New Notes and the initial purchasers of the New Notes, we agreed to make an offer to exchange (the “Exchange Offer”) the New Notes and guarantees for registered, publicly tradable notes and guarantees that have terms identical in all material respects to the New Notes (except that the exchange notes will not contain any transfer restrictions) within a certain period of time following the completion of the offering. On January 17, 2018, the Company filed a registration statement on Form S-4 with respect to an offer to exchange the New and Add-on Notes and guarantees for registered, publicly tradable notes and guarantees that have terms identical in all material respects to the New and Add-on Notes (except that the exchange notes do not contain any transfer restrictions). This exchange offer closed on March 27, 2018.

The following table reconciles our Senior Unsecured Notes to our Condensed Consolidated Balance Sheets (amounts in thousands):

Balance at December 31, 2017	$	944,088
Accretion of discount through December 31, 2018		1,539
Amortization of note premium through December 31, 2018		(1,062	)
Additional deferred financing costs on New Notes		(97	)
Amortization of deferred financing costs through December 31, 2018		312
Balance at December 31, 2018	$	944,780
Accretion of discount through March 31, 2019		385
Amortization of note premium through March 31, 2019		(265	)
Amortization of deferred financing costs through March 31, 2019		77
Balance at March 31, 2019	$	944,977

Leases

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Leases

(10) Leases

We adopted Topic 842 on January 1, 2019. Because we adopted Topic 842 using the transition method that allowed us to initially apply Topic 842 as of January 1, 2019 and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption, prior year financial statements were not recast under the new standard and, therefore, those prior year amounts are not presented below.

Our lease portfolio is substantially comprised of operating leases related to leases of real estate and improvements at 84 of our 96 branch locations as of March 31, 2019. From time to time, we may also lease various types of small equipment and vehicles. Such leases are typically immaterial to our consolidated financial statements.

For leases with terms greater than 12 months, we record the related asset and obligation at the present value of lease payments over the term. Many of our leases include rental escalation clauses, renewal options and/or termination options that are factored into our determination of lease payments when such renewal options and/or termination options are reasonably certain of exercise. We do not separate lease and nonlease components of contracts.

When available, we use the rate implicit in the lease to discount lease payments to present value; however, most of our leases do not provide a readily determinable implicit rate. Therefore, we must estimate our incremental borrowing rate to discount the lease payments based on information available at lease commencement.

At March 31, 2019, as disclosed in our condensed consolidated balance sheet, we had net operating lease right-of-use assets of $166.3 million and net finance lease right-of-use assets of $0.5 million. Our operating lease liabilities at March 31, 2019 were $168.6 million and finance lease liabilities were $0.7 million. The weighted average remaining lease term for operating leases was approximately 11.2 years and the weighted average remaining lease term for finance leases was approximately 3.0 years. The weighted average discount rate for operating and finance leases was approximately 6.9% and 5.9%, respectively.

The table below presents certain information related to lease costs for our operating and finance leases for the three month period ended March 31, 2019 (in thousands).


	Classification
Operating lease cost	SG&A expenses	$ 5,575
Finance lease cost
Amortization of leased assets	SG&A expenses	41
Interest of lease liabilities	Interest expense	11
Variable lease cost	SG&A expenses	124
Sublease income	Other income	(120)
Total lease cost		$ 5,631

The table below presents supplemental cash flow information related to leases for the three month period ended March 31, 2019 (in thousands).


Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases		$ 5,429
Operating cash flows for finance leases		11
Finance cash flows for finance leases		57

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on our condensed consolidated balance sheet as of March 31, 2019 (in thousands).


	Operating Leases	Finance Leases
2019	$ 16,533	$ 203
2020	21,976	270
2021	21,921	270
2022	21,867	45
2023	21,823	̶
Thereafter	138,106	̶
Total minimum lease payments	242,226	788
Less: amount of lease payments representing interest	(73,647)	(63)
Present value of future minimum lease payments	$ 168,579	$ 725

Segment Information

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Segment Information

(11) Segment Information

We have identified five reportable segments: equipment rentals, new equipment sales, used equipment sales, parts sales and services revenues. These segments are based upon how management of the Company allocates resources and assesses performance. Non-segmented revenues and non-segmented costs relate to equipment support activities including transportation, hauling, parts freight and damage-waiver charges and are not allocated to the other reportable segments. There were no sales between segments for any of the periods presented. Selling, general and administrative expenses as well as all other income and expense items below gross profit are not generally allocated to reportable segments.

We do not compile discrete financial information by segments other than the information presented below. The following table presents information about our reportable segments (amounts in thousands):

	Three Months Ended March 31,
	2019			2018
Segment Revenues:
Equipment rentals	$	176,129		$	143,305
New equipment sales		59,103			46,493
Used equipment sales		29,634			24,853
Parts sales		30,428			28,151
Services revenues		15,568			15,036
Total segmented revenues		310,862			257,838
Non-segmented revenues		2,776			2,644
Total revenues	$	313,638		$	260,482
Segment Gross Profit:
Equipment rentals	$	77,938		$	61,899
New equipment sales		7,004			5,648
Used equipment sales		10,622			7,916
Parts sales		8,139			7,534
Services revenues		10,564			9,986
Total segmented gross profit		114,267			92,983
Non-segmented gross loss		(567	)		(398	)
Total gross profit	$	113,700		$	92,585

	Balances at
	March 31,		December 31,
	2019		2018
Segment identified assets:
Equipment sales	$	122,833	$	86,583
Equipment rentals		1,189,677		1,141,498
Parts and services		19,545		18,015
Total segment identified assets		1,332,055		1,246,096
Non-segment identified assets		673,537		481,085
Total assets	$	2,005,592	$	1,727,181

The Company operates primarily in the United States and our sales to international customers for the three month periods ended March 31, 2019 and 2018 were 0.3% and 0.4%, respectively, of total revenues. No one customer accounted for more than 10% of our revenues on an overall or segment basis for any of the periods presented.

Condensed Consolidating Financial Information of Guarantor Subsidiaries

3 Months Ended

Mar. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Condensed Consolidating Financial Information of Guarantor Subsidiaries

(12) Condensed Consolidating Financial Information of Guarantor Subsidiaries

All of the indebtedness of H&E Equipment Services, Inc. is guaranteed by GNE Investments, Inc. and its wholly‑owned subsidiary Great Northern Equipment, Inc., H&E Equipment Services (California), LLC, H&E California Holding, Inc., H&E Equipment Services (Mid-Atlantic), Inc. and H&E Finance Corp. The guarantor subsidiaries are all wholly‑owned and the guarantees, made on a joint and several basis, are full and unconditional (subject to subordination provisions and subject to a standard limitation which provides that the maximum amount guaranteed by each guarantor will not exceed the maximum amount that can be guaranteed without making the guarantee void under fraudulent conveyance laws). There are no restrictions on H&E Equipment Services, Inc.’s ability to obtain funds from the guarantor subsidiaries by dividend or loan.

The consolidating financial statements of H&E Equipment Services, Inc. and its subsidiaries are included below. The financial statements for H&E Finance Corp. are not included within the consolidating financial statements because H&E Finance Corp. has no assets or operations.

CONDENSED CONSOLIDATING BALANCE SHEET

	As of March 31, 2019
	H&E Equipment Services		Guarantor Subsidiaries			Elimination			Consolidated
	(Amounts in thousands)
Assets:
Cash	$	6,442	$	—		$	—		$	6,442
Receivables, net		162,111		26,232			—			188,343
Inventories, net		128,334		14,045			—			142,379
Prepaid expenses and other assets		12,512		134			—			12,646
Rental equipment, net		1,034,246		155,431			—			1,189,677
Property and equipment, net		101,467		17,292			—			118,759
Operating lease right-of-use assets, net		144,630		21,663			—			166,293
Finance lease right-of-use assets, net		—		487			—			487
Deferred financing costs, net		3,347		—			—			3,347
Investment in guarantor subsidiaries		235,830		—			(235,830	)		—
Intangible assets, net		34,729		—			—			34,729
Goodwill		112,964		29,526			—			142,490
Total assets	$	1,976,612	$	264,810		$	(235,830	)	$	2,005,592
Liabilities and Stockholders’ Equity:
Amounts due on senior secured credit facility	$	265,647	$	—		$	—		$	265,647
Accounts payable		105,984		9,510			—			115,494
Manufacturer flooring plans payable		26,350		—			—			26,350
Accrued expenses payable and other liabilities		64,947		(3,325	)		—			61,622
Dividends payable		147		(54	)		—			93
Senior unsecured notes, net		944,977		—			—			944,977
Operating lease right-of-use liabilities		146,455		22,124			—			168,579
Finance lease right-of-use liabilities		—		725			—			725
Deferred income taxes		158,090		—			—			158,090
Deferred compensation payable		2,016		—			—			2,016
Total liabilities		1,714,613		28,980			—			1,743,593
Stockholders’ equity		261,999		235,830			(235,830	)		261,999
Total liabilities and stockholders’ equity	$	1,976,612	$	264,810		$	(235,830	)	$	2,005,592

CONDENSED CONSOLIDATING BALANCE SHEET

	As of December 31, 2018
	H&E Equipment Services		Guarantor Subsidiaries			Elimination			Consolidated
	(Amounts in thousands)
Assets:
Cash	$	16,677	$	—		$	—		$	16,677
Receivables, net		166,393		35,163			—			201,556
Inventories, net		94,483		10,115			—			104,598
Prepaid expenses and other assets		10,382		126			—			10,508
Rental equipment, net		983,281		158,217			—			1,141,498
Property and equipment, net		98,251		16,870			—			115,121
Deferred financing costs, net		3,000		—			—			3,000
Investment in guarantor subsidiaries		246,309		—			(246,309	)		—
Intangible assets, net		28,380		—						28,380
Goodwill		76,317		29,526			—			105,843
Total assets	$	1,723,473	$	250,017		$	(246,309	)	$	1,727,181
Liabilities and Stockholders’ Equity:
Amounts due under senior secured credit facility	$	170,761	$	—		$	—		$	170,761
Accounts payable		95,866		5,974			—			101,840
Manufacturer flooring plans payable		23,178		488			—			23,666
Accrued expenses payable and other liabilities		76,798		(3,427	)		—			73,371
Dividends payable		185		(53	)		—			132
Senior unsecured notes, net		944,780		—			—			944,780
Capital leases payable		—		726			—			726
Deferred income taxes		153,113		—			—			153,113
Deferred compensation payable		1,989		—			—			1,989
Total liabilities		1,466,670		3,708			—			1,470,378
Stockholders’ equity		256,803		246,309			(246,309	)		256,803
Total liabilities and stockholders’ equity	$	1,723,473	$	250,017		$	(246,309	)	$	1,727,181

CONDENSED CONSOLIDATING STATEMENT OF INCOME

	Three Months Ended March 31, 2019
	H&E Equipment Services			Guarantor Subsidiaries			Elimination			Consolidated
	(Amounts in thousands)
Revenues:
Equipment rentals	$	153,533		$	22,596		$	—		$	176,129
New equipment sales		52,575			6,528			—			59,103
Used equipment sales		25,212			4,422			—			29,634
Parts sales		26,554			3,874			—			30,428
Services revenues		13,166			2,402			—			15,568
Other		1,393			1,383			—			2,776
Total revenues		272,433			41,205			—			313,638
Cost of revenues:
Rental depreciation		49,263			7,885			—			57,148
Rental expense		21,152			3,616			—			24,768
Rental other		14,063			2,212						16,275
		84,478			13,713			—			98,191
New equipment sales		46,460			5,639			—			52,099
Used equipment sales		16,211			2,801			—			19,012
Parts sales		19,591			2,698			—			22,289
Services revenues		4,282			722			—			5,004
Other		2,710			633			—			3,343
Total cost of revenues		173,732			26,206			—			199,938
Gross profit (loss):
Equipment rentals		69,055			8,883			—			77,938
New equipment sales		6,115			889			—			7,004
Used equipment sales		9,001			1,621			—			10,622
Parts sales		6,963			1,176			—			8,139
Services revenues		8,884			1,680			—			10,564
Other		(1,317	)		750			—			(567	)
Gross profit		98,701			14,999			—			113,700
Selling, general and administrative expenses		68,556			10,091			—			78,647
Merger costs		119			—			—			119
Equity in earnings of guarantor subsidiaries		1,724			—			(1,724	)		—
Gain on sales of property and equipment, net		707			34			—			741
Income from operations		32,457			4,942			(1,724	)		35,675
Other income (expense):
Interest expense		(13,562	)		(3,293	)		—			(16,855	)
Other, net		457			75			—			532
Total other expense, net		(13,105	)		(3,218	)		—			(16,323	)
Income before income taxes		19,352			1,724			(1,724	)		19,352
Income tax expense		5,109			—			—			5,109
Net income	$	14,243		$	1,724		$	(1,724	)	$	14,243

CONDENSED CONSOLIDATING STATEMENT OF INCOME

	Three Months Ended March 31, 2018
	H&E Equipment Services			Guarantor Subsidiaries			Elimination			Consolidated
	(Amounts in thousands)
Revenues:
Equipment rentals	$	117,184		$	19,854		$	—		$	137,038
New equipment sales		39,901			6,592			—			46,493
Used equipment sales		20,226			4,627			—			24,853
Parts sales		24,347			3,804			—			28,151
Services revenues		12,782			2,254			—			15,036
Other		7,592			1,319			—			8,911
Total revenues		222,032			38,450			—			260,482
Cost of revenues:
Rental depreciation		39,559			6,910			—			46,469
Rental expense		18,261			3,011			—			21,272
Rental other		9,889			2,211						12,100
		67,709			12,132			—			79,841
New equipment sales		35,083			5,762			—			40,845
Used equipment sales		13,832			3,105			—			16,937
Parts sales		17,956			2,661			—			20,617
Services revenues		4,361			689			—			5,050
Other		4,027			580			—			4,607
Total cost of revenues		142,968			24,929			—			167,897
Gross profit (loss):
Equipment rentals		49,475			7,722			—			57,197
New equipment sales		4,818			830			—			5,648
Used equipment sales		6,394			1,522			—			7,916
Parts sales		6,391			1,143			—			7,534
Services revenues		8,421			1,565			—			9,986
Other		3,565			739			—			4,304
Gross profit		79,064			13,521			—			92,585
Selling, general and administrative expenses		55,009			10,871			—			65,880
Merger costs		152			—			—			152
Equity in earnings of guarantor subsidiaries		458			—			(458	)		—
Gain on sales of property and equipment, net		714			59			—			773
Income from operations		25,075			2,709			(458	)		27,326
Other income (expense):
Interest expense		(12,349	)		(2,304	)		—			(14,653	)
Other, net		342			53			—			395
Total other expense, net		(12,007	)		(2,251	)		—			(14,258	)
Income before income taxes		13,068			458			(458	)		13,068
Income tax benefit		3,590			—			—			3,590
Net income	$	9,478		$	458		$	(458	)	$	9,478

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

	Three Months Ended March 31, 2019
	H&E Equipment Services			Guarantor Subsidiaries			Elimination			Consolidated
	(Amounts in thousands)
Cash flows from operating activities:
Net income	$	14,243		$	1,724		$	(1,724	)	$	14,243
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization on property and equipment		5,692			787			—			6,479
Depreciation of rental equipment		49,263			7,885			—			57,148
Amortization of finance lease right-of-use assets		—			41			—			41
Amortization of intangible assets		952			—			—			952
Amortization of deferred financing costs		254			—			—			254
Accretion of note discount, net of premium amortization		120			—			—			120
Operating lease right-of-use liabilities, net		113			33						146
Provision for losses on accounts receivable		1,112			189			—			1,301
Provision for inventory obsolescence		42			—			—			42
Change in deferred income taxes		4,977			—			—			4,977
Stock-based compensation expense		1,188			—			—			1,188
Gain from sales of property and equipment, net		(707	)		(34	)		—			(741	)
Gain from sales of rental equipment, net		(9,004	)		(1,617	)		—			(10,621	)
Equity in earnings of guarantor subsidiaries		(1,724	)		—			1,724			—
Changes in operating assets and liabilities:
Receivables		8,863			8,742			—			17,605
Inventories		(51,703	)		(6,359	)		—			(58,062	)
Prepaid expenses and other assets		(2,109	)		(8	)		—			(2,117	)
Accounts payable		10,003			3,536			—			13,539
Manufacturer flooring plans payable		3,172			(488	)		—			2,684
Accrued expenses payable and other liabilities		(10,667	)		530			—			(10,137	)
Deferred compensation payable		27			—			—			27
Net cash provided by operating activities		24,107			14,961			—			39,068
Cash flows from investing activities:
Acquisition of business, net of cash acquired		(106,746	)		—						(106,746	)
Purchases of property and equipment		(5,446	)		(1,775	)		—			(7,221	)
Purchases of rental equipment		(43,311	)		(5,333	)		—			(48,644	)
Proceeds from sales of property and equipment		859			72			—			931
Proceeds from sales of rental equipment		24,012			4,280			—			28,292
Investment in subsidiaries		12,203			—			(12,203	)		—
Net cash used in investing activities.		(118,429	)		(2,756	)		(12,203	)		(133,388	)
Cash flows from financing activities:
Borrowings on senior secured credit facility		447,503			—			—			447,503
Payments on senior secured credit facility		(352,617	)		—			—			(352,617	)
Dividends paid		(9,831	)		(1	)		—			(9,832	)
Purchases of treasury stock		(387	)		—			—			(387	)
Payment of deferred financing costs		(525	)		—			—			(525	)
Payments on finance lease obligations		(56	)		(1	)		—			(57	)
Capital contributions		—			(12,203	)		12,203			—
Net cash provided by (used in) financing activities		84,087			(12,205	)		12,203			84,085
Net decrease in cash		(10,235	)		—			—			(10,235	)
Cash, beginning of period		16,677			—			—			16,677
Cash, end of period	$	6,442		$	—		$	—		$	6,442

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

	Three Months Ended March 31, 2018
	H&E Equipment Services			Guarantor Subsidiaries			Elimination			Consolidated
	(Amounts in thousands)
Cash flows from operating activities:
Net income	$	9,478		$	458		$	(458	)	$	9,478
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization on property and equipment		5,163			721			—			5,884
Depreciation of rental equipment		39,559			6,910			—			46,469
Amortization of intangible assets		705									705
Amortization of deferred financing costs		289			—			—			289
Accretion of note discount, net of premium amortization		120			—			—			120
Provision for losses on accounts receivable		593			224			—			817
Provision for inventory obsolescence		67			—			—			67
Change in deferred income taxes		4,456			—			—			4,456
Stock-based compensation expense		1,319			—			—			1,319
Gain from sales of property and equipment, net		(714	)		(59	)		—			(773	)
Gain from sales of rental equipment, net		(6,228	)		(1,517	)		—			(7,745	)
Equity in earnings of guarantor subsidiaries		(458	)		—			458			—
Changes in operating assets and liabilities:
Receivables		11,687			10,727			—			22,414
Inventories		(78,456	)		(10,218	)		—			(88,674	)
Prepaid expenses and other assets		(2,175	)		(62	)		—			(2,237	)
Accounts payable		45,770			(386	)		—			45,384
Manufacturer flooring plans payable		7,143			(1,033	)		—			6,110
Accrued expenses payable and other liabilities		(15,286	)		(513	)		—			(15,799	)
Deferred compensation payable		22			—			—			22
Net cash provided by operating activities		23,054			5,252			—			28,306
Cash flows from investing activities:
Acquisition of business, net of cash acquired		(125,207	)		—			—			(125,207	)
Purchases of property and equipment		(4,301	)		(204	)		—			(4,505	)
Purchases of rental equipment		(36,688	)		(3,966	)		—			(40,654	)
Proceeds from sales of property and equipment		726			59			—			785
Proceeds from sales of rental equipment		18,901			4,529			—			23,430
Investment in subsidiaries		5,613			—			(5,613	)		—
Net cash provided by (used in) investing activities		(140,956	)		418			(5,613	)		(146,151	)
Cash flows from financing activities:
Borrowings on senior secured credit facility		294,229			—			—			294,229
Payments on senior secured credit facility		(294,229	)		—			—			(294,229	)
Dividends paid		(9,804	)		—			—			(9,804	)
Payments of deferred financing costs		(88	)		—			—			(88	)
Payments on capital lease obligations		—			(57	)		—			(57	)
Capital contributions		—			(5,613	)		5,613			—
Net cash used in financing activities		(9,892	)		(5,670	)		5,613			(9,949	)
Net decrease in cash		(127,794	)		—			—			(127,794	)
Cash, beginning of period		165,878			—			—			165,878
Cash, end of period	$	38,084		$	—		$	—		$	38,084

Organization and Nature of Operations (Policies)

3 Months Ended

Mar. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Basis of Presentation


$'s in thousands
	Three Month Period Ended March 31, 2018
		As Previously Reported	Hauling Fees	As Currently Reported
REVENUES
Equipment rentals		$ 129,361	$ 7,677	$ 137,038
New equipment sales		46,493	-	46,493
Used equipment sales		24,853	-	24,853
Parts sales		28,151	-	28,151
Services revenues		15,036	-	15,036
Other		16,588	(7,677)	8,911
Total revenues		260,482	-	260,482

COST OF REVENUES
Rental depreciation		46,469	-	46,469
Rental expense		21,272	-	21,272
Rental other		-	12,100	12,100
		67,741	12,100	79,841
New equipment sales		40,845	-	40,845
Used equipment sales		16,937	-	16,937
Parts sales		20,617	-	20,617
Services revenues		5,050	-	5,050
Other		16,707	(12,100)	4,607
Total cost of revenues		167,897	-	167,897
Gross Profit		$ 92,585	$ -	$ 92,585

Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Use of Estimates

Recent Accounting Pronouncements

Pronouncements Not Yet Adopted

Recently Adopted Accounting Pronouncements

Leases

Lessor Accounting

Lessee Accounting

Revenue Recognition


	Three Month Period Ended March 31,
	2019			2018
	Topic 842	Topic 606	Total	Topic 840	Topic 606	Total
Revenues:
Rental revenues
Owned equipment rentals	$ 153,350	$ 274	$ 153,624	$ 123,734	$ 522	$ 124,256
Re-rent revenue	6,036	─	6,036	5,105	─	5,105
Ancillary and other rental revenues:
Delivery and pick-up	─	8,982	8,982	─	7,677	7,677
Other	7,487	─	7,487	─	─	─
Total ancillary rental revenues	7,487	8,982	16,469	─	7,677	7,677
Total equipment rental revenues	166,873	9,256	176,129	128,839	8,199	137,038
New equipment sales	─	59,103	59,103	─	46,493	46,493
Used equipment sales	─	29,634	29,634	─	24,853	24,853
Parts sales	─	30,428	30,428	─	28,151	28,151
Service revenues	─	15,568	15,568	─	15,036	15,036
Other	─	2,776	2,776	6,267	2,644	8,911
Total revenues	$ 166,873	$146,765	$ 313,638	$ 135,106	$ 125,376	$ 260,482

Lease revenues (Topic 842)

Revenues from contracts with customers (Topic 606)

Delivery and pick-up: Delivery and pick-up revenue associated with renting equipment is recognized when the service is performed.

New equipment sales: Revenues from the sales of new equipment are recognized at the time of delivery to, or pick-up by, the customer, which is when the customer obtains control of the promised good.

Receivables and contract assets and liabilities

Performance obligations

Payment terms

Sales tax amounts collected from customers are recorded on a net basis.

Contract costs

Contract estimates and judgments

Organization and Nature of Operations (Tables)

3 Months Ended

Mar. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Summary of Revenues, Cost of Revenues and Gross Profit as Previously Reported


$'s in thousands
	Three Month Period Ended March 31, 2018
		As Previously Reported	Hauling Fees	As Currently Reported
REVENUES
Equipment rentals		$ 129,361	$ 7,677	$ 137,038
New equipment sales		46,493	-	46,493
Used equipment sales		24,853	-	24,853
Parts sales		28,151	-	28,151
Services revenues		15,036	-	15,036
Other		16,588	(7,677)	8,911
Total revenues		260,482	-	260,482

COST OF REVENUES
Rental depreciation		46,469	-	46,469
Rental expense		21,272	-	21,272
Rental other		-	12,100	12,100
		67,741	12,100	79,841
New equipment sales		40,845	-	40,845
Used equipment sales		16,937	-	16,937
Parts sales		20,617	-	20,617
Services revenues		5,050	-	5,050
Other		16,707	(12,100)	4,607
Total cost of revenues		167,897	-	167,897
Gross Profit		$ 92,585	$ -	$ 92,585

Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Summary of Revenue by Type and by Applicable Accounting Standard


	Three Month Period Ended March 31,
	2019			2018
	Topic 842	Topic 606	Total	Topic 840	Topic 606	Total
Revenues:
Rental revenues
Owned equipment rentals	$ 153,350	$ 274	$ 153,624	$ 123,734	$ 522	$ 124,256
Re-rent revenue	6,036	─	6,036	5,105	─	5,105
Ancillary and other rental revenues:
Delivery and pick-up	─	8,982	8,982	─	7,677	7,677
Other	7,487	─	7,487	─	─	─
Total ancillary rental revenues	7,487	8,982	16,469	─	7,677	7,677
Total equipment rental revenues	166,873	9,256	176,129	128,839	8,199	137,038
New equipment sales	─	59,103	59,103	─	46,493	46,493
Used equipment sales	─	29,634	29,634	─	24,853	24,853
Parts sales	─	30,428	30,428	─	28,151	28,151
Service revenues	─	15,568	15,568	─	15,036	15,036
Other	─	2,776	2,776	6,267	2,644	8,911
Total revenues	$ 166,873	$146,765	$ 313,638	$ 135,106	$ 125,376	$ 260,482

Acquisitions (Tables)

3 Months Ended

Mar. 31, 2019

CEC [Member]

Business Acquisition [Line Items]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date.


		$’s in thousands

Cash		$ 1,244
Accounts receivable		7,583
Inventory		504
Prepaid expenses and other assets		324
Rental equipment		55,342
Property and equipment		2,700
Intangible assets (1)		21,500
Total identifiable assets acquired		89,197
Accounts payable		(1,023)
Accrued expenses payable and other liabilities		(876)
Total liabilities assumed		(1,899)
Net identifiable assets acquired		87,298
Goodwill (2)		45,092
Net assets acquired		$ 132,390

(1)

The following table reflects the estimated fair values and useful lives of the acquired intangible assets identified based on our purchase accounting assessments:


	Fair Value (amounts in thousands)	Life (years)
Customer relationships	$ 21,000	10
Tradenames	300	1
Leasehold interests	200	10
	$ 21,500

(2)

We have allocated the $45.1 million goodwill among our six goodwill reporting units as follows (amounts in thousands):


Rental Component 1	$25,233
Rental Component 2	18,391
New Equipment	217
Used Equipment	632
Parts	379
Service	240

Unaudited Pro Forma Consolidated Statements of Income Information




	(amounts in thousands)
	Three Month Period Ended March 31, 2017
	H&E	CEC	Total
Total revenues (1)	$ 226,828	$ 8,389	$ 235,217

Pretax income	8,530	1,441	9,971
Pro forma adjustments to pretax income:
Impact of fair value mark-ups/useful life changes on depreciation (2)		(903)	(903)
Intangible asset amortization (3)		(705)	(705)
Pro forma pretax income (loss)	8,530	(167)	8,363
Income tax expense (benefit)	3,140	(63)	3,077
Net income (loss)	$ 5,390	$ (104)	$ 5,286
Net income per share - basic	$ 0.15	$ ─	$ 0.15
Net income per share – diluted	$ 0.15	$ ─	$ 0.15

(1)

There were no nonrecurring pro forma adjustments directly attributable to the CEC acquisition included in the reported pro forma total revenues.

(2)

(3)

Represents the amortization of the intangible assets acquired in the CEC acquisition.

Rental Inc [Member]

Business Acquisition [Line Items]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair value of the assets acquired and liabilities assumed as of the acquisition date.


		$’s in thousands

Cash		$ 260
Accounts receivable		2,873
Inventory		5,324
Prepaid expenses and other assets		47
Rental equipment		22,578
Property and equipment		1,935
Intangible assets (1)		10,200
Total identifiable assets acquired		43,217
Accounts payable		(439)
Manufacturer flooring plans payable		(3,293)
Accrued expenses payable and other liabilities		(469)
Total liabilities assumed		(4,201)
Net identifiable assets acquired		39,016
Goodwill (2)		29,554
Net assets acquired		$ 68,570

(1)

The following table reflects the estimated fair values and useful lives of the acquired intangible assets identified based on our purchase accounting assessments:


	Fair Value (amounts in thousands)	Life (years)
Customer relationships	$ 10,000	10
Tradenames	200	1
	$ 10,200

(2)

We have allocated the $29.6 million goodwill among our six goodwill reporting units as follows (amounts in thousands):


Rental Component 1	$9,064
Rental Component 2	5,445
New Equipment	10,217
Used Equipment	1,692
Parts	2,171
Service	964

We-Rent-It [Member]

Business Acquisition [Line Items]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed as of the acquisition date. The amounts presented below are preliminary and are subject to change.


		$’s in thousands

Cash		$ 1,745
Accounts receivable		5,149
Inventory		873
Prepaid expenses and other assets		544
Rental equipment		53,242
Property and equipment		3,959
Other assets		21
Intangible assets (1)		7,300
Total identifiable assets acquired		72,833
Accounts payable		(115)
Accrued expenses payable and other liabilities		(874)
Total liabilities assumed		(989)
Net identifiable assets acquired		71,844
Goodwill		36,647
Net assets acquired		$ 108,491

(1)

The following table reflects the estimated fair values and useful lives of the acquired intangible assets identified based on our purchase accounting assessments:


	Fair Value (amounts in thousands)	Life (years)
Customer relationships	$ 7,300	10

Unaudited Pro Forma Consolidated Statements of Income Information

The tables below present unaudited pro forma consolidated statements of income information for the three month period ended March 31, 2018 as if WRI was included in our consolidated results for the entire period presented.


	(amounts in thousands, except per share data)
	Three Month Period Ended March 31, 2018
	H&E(1)	We-Rent-It	Total
Total revenues	$260,482	$7,587	$268,069

Pretax income	13,068	784	13,852
Pro forma adjustments to pretax income:
Impact of fair value mark-ups/useful life changes on depreciation (2)	—	(250)	(250)
Intangible asset amortization (3)	—	(122)	(122)
Interest expense (4)	—	(1,356)	(1,356)
Elimination of historic interest expense (5)	—	80	80
Pro forma pretax income (loss)	13,068	(864)	12,204
Income tax expense (benefit)	3,590	(235)	3,355
Net income (loss)	$ 9,478	$ (629)	$8,849
Net income (loss) per share – basic	$ 0.27	$(0.02)	$ 0.25
Net income (loss) per share - diluted	$ 0.26	$(0.02)	$ 0.25

(1)

Amounts presented above for “H&E” are derived from the Company’s consolidated statements of income in this Quarterly Report on Form 10-Q for the three month period ended March 31, 2018.

(2)

Depreciation of rental equipment and non-rental equipment were adjusted for the fair value markups, and the changes in useful lives and salvage values of the equipment acquired in the acquisition.

(3)

Represents the amortization of the intangible asset acquired in the acquisition.

(4)

Interest expense was adjusted to reflect the additional debt resulting from the acquisition.

(5)

Represents the elimination of historic debt of WRI that is not part of the combined entity.

Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Estimated Incremental Borrowing Rates for Similar Types of Borrowing Arrangements

The carrying amounts and fair values of our other financial instruments subject to fair value disclosures as of March 31, 2019 and December 31, 2018 are presented in the table below (amounts in thousands) and have been calculated based upon market quotes and present value calculations based on market rates.

	March 31, 2019
	Carrying Amount		Fair Value
Manufacturer flooring plans payable with interest computed at 5.50% (Level 3)	$	26,350	$	22,281
Senior unsecured notes with interest computed at 5.625% (Level 2)		944,977		947,625
Letter of credit (Level 3)		—		97

	December 31, 2018
	Carrying Amount		Fair Value
Manufacturer flooring plans payable with interest computed at 5.50% (Level 3)	$	23,666	$	19,870
Senior unsecured notes with interest computed at 5.625% (Level 2)		944,780		871,625
Capital leases payable with interest computed at 5.929% to 9.55% (Level 3)		726		330
Letter of credit (Level 3)		—		116

Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Summary of Activity in Stockholders' Equity

The following table summarizes the activity in Stockholders’ Equity for the three month period ended March 31, 2019 and March 31, 2018, respectively (amounts in thousands, except share data):

	Common Stock				Additional								Total
	Shares Issued		Amount		Paid-in Capital		Treasury Stock			Retained Earnings			Stockholders’ Equity
Balances at December 31, 2018		39,748,562	$	396	$	231,174	$	(63,099	)	$	88,332		$	256,803
Stock-based compensation		—		—		1,188		—			—			1,188
Cash dividends declared on common stock ($0.275 per share)		—		—		—		—			(9,793	)		(9,793	)
Issuance of common stock, net of forfeitures		59,510		1				—			—			1
Repurchase of 14,272 shares of restricted common stock		—		—		—		(387	)		—			(387	)
Cumulative effect adjustment pursuant to the adoption of ASC 842		—		—		—		—			(56	)		(56	)
Net income		—		—		—		—			14,243			14,243
Balances at March 31, 2019		39,808,072	$	397	$	232,362	$	(63,486	)	$	92,726		$	261,999

Balances at December 31, 2017		39,623,773	$	395	$	227,070	$	(61,749	)	$	51,077		$	216,793
Stock-based compensation		—		—		1,319		—			—			1,319
Cash dividends declared on common stock ($0.275 per share)		—		—		—		—			(9,845	)		(9,845	)
Issuance of common stock, net of forfeitures		9,534		—		—		—			—			—
Net income		—		—		—		—			9,478			9,478
Balances at March 31, 2018		39,633,307	$	395	$	228,389	$	(61,749	)	$	50,710		$	217,745

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Non-Vested Stock Activity

The following table summarizes our non-vested stock activity for the nine months ended March 31, 2019:

	Number of Shares			Weighted Average Grant Date Fair Value
Non-vested stock at December 31, 2018		379,559		$	25.87
Granted		20,923		$	26.77
Vested		(57,296	)	$	21.60
Forfeited		(25,120	)	$	19.80
Non-vested stock at March 31, 2019		318,066		$	27.18

Schedule of Compensation Expense Related to Non-Vested Stock

The following table summarizes compensation expense related to non-vested stock, which is included in selling, general and administrative expenses in the accompanying condensed consolidated statements of income for the three months ended March 31, 2019 and 2018 (amounts in thousands):

For the Three Months Ended

March 31,

2019

2018

Compensation expense

1,188

1,319

Income per Share (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Summary of Computation of Basic and Diluted Net Income Per Common Share

The following table sets forth the computation of basic and diluted net income per common share for the three months ended March 31, 2019 and 2018 (amounts in thousands, except per share amounts):

	Three Months Ended
	March 31,
	2019		2018
Basic net income per share:
Net income	$	14,243	$	9,478
Weighted average number of common shares outstanding		35,787		35,592
Net income per share of common stock – basic	$	0.40	$	0.27
Diluted net income per share:
Net income	$	14,243	$	9,478
Weighted average number of common shares outstanding		35,787		35,592
Effect of dilutive securities:
Effect of dilutive non-vested restricted stock		186		287
Weighted average number of common shares outstanding – diluted		35,973		35,879
Net income per share of common stock – diluted	$	0.40	$	0.26
Common shares excluded from the denominator as anti-dilutive:
Non-vested restricted stock		37		—

Senior Unsecured Notes (Tables)

3 Months Ended

Mar. 31, 2019

Senior Unsecured Notes [Member]

Debt Instrument [Line Items]

Reconciliation of Senior Unsecured Notes to Condensed Consolidated Balance Sheets

The following table reconciles our Senior Unsecured Notes to our Condensed Consolidated Balance Sheets (amounts in thousands):

Balance at December 31, 2017	$	944,088
Accretion of discount through December 31, 2018		1,539
Amortization of note premium through December 31, 2018		(1,062	)
Additional deferred financing costs on New Notes		(97	)
Amortization of deferred financing costs through December 31, 2018		312
Balance at December 31, 2018	$	944,780
Accretion of discount through March 31, 2019		385
Amortization of note premium through March 31, 2019		(265	)
Amortization of deferred financing costs through March 31, 2019		77
Balance at March 31, 2019	$	944,977

Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Summary of Lease Costs for Operating and Finance Leases

The table below presents certain information related to lease costs for our operating and finance leases for the three month period ended March 31, 2019 (in thousands).


	Classification
Operating lease cost	SG&A expenses	$ 5,575
Finance lease cost
Amortization of leased assets	SG&A expenses	41
Interest of lease liabilities	Interest expense	11
Variable lease cost	SG&A expenses	124
Sublease income	Other income	(120)
Total lease cost		$ 5,631

Schedule of Supplemental Cash Flow Information Related to Leases

The table below presents supplemental cash flow information related to leases for the three month period ended March 31, 2019 (in thousands).


Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases		$ 5,429
Operating cash flows for finance leases		11
Finance cash flows for finance leases		57

Summary of Undiscounted Cash Flows and Operating Lease Liabilities Recorded on Condensed Consolidated Balance Sheet


	Operating Leases	Finance Leases
2019	$ 16,533	$ 203
2020	21,976	270
2021	21,921	270
2022	21,867	45
2023	21,823	̶
Thereafter	138,106	̶
Total minimum lease payments	242,226	788
Less: amount of lease payments representing interest	(73,647)	(63)
Present value of future minimum lease payments	$ 168,579	$ 725

Segment Information (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Schedule of Information about Reportable Segments

The following table presents information about our reportable segments (amounts in thousands):

	Three Months Ended March 31,
	2019			2018
Segment Revenues:
Equipment rentals	$	176,129		$	143,305
New equipment sales		59,103			46,493
Used equipment sales		29,634			24,853
Parts sales		30,428			28,151
Services revenues		15,568			15,036
Total segmented revenues		310,862			257,838
Non-segmented revenues		2,776			2,644
Total revenues	$	313,638		$	260,482
Segment Gross Profit:
Equipment rentals	$	77,938		$	61,899
New equipment sales		7,004			5,648
Used equipment sales		10,622			7,916
Parts sales		8,139			7,534
Services revenues		10,564			9,986
Total segmented gross profit		114,267			92,983
Non-segmented gross loss		(567	)		(398	)
Total gross profit	$	113,700		$	92,585

	Balances at
	March 31,		December 31,
	2019		2018
Segment identified assets:
Equipment sales	$	122,833	$	86,583
Equipment rentals		1,189,677		1,141,498
Parts and services		19,545		18,015
Total segment identified assets		1,332,055		1,246,096
Non-segment identified assets		673,537		481,085
Total assets	$	2,005,592	$	1,727,181

Condensed Consolidating Financial Information of Guarantor Subsidiaries (Tables)

3 Months Ended

Mar. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Condensed Consolidating Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEET

	As of March 31, 2019
	H&E Equipment Services		Guarantor Subsidiaries			Elimination			Consolidated
	(Amounts in thousands)
Assets:
Cash	$	6,442	$	—		$	—		$	6,442
Receivables, net		162,111		26,232			—			188,343
Inventories, net		128,334		14,045			—			142,379
Prepaid expenses and other assets		12,512		134			—			12,646
Rental equipment, net		1,034,246		155,431			—			1,189,677
Property and equipment, net		101,467		17,292			—			118,759
Operating lease right-of-use assets, net		144,630		21,663			—			166,293
Finance lease right-of-use assets, net		—		487			—			487
Deferred financing costs, net		3,347		—			—			3,347
Investment in guarantor subsidiaries		235,830		—			(235,830	)		—
Intangible assets, net		34,729		—			—			34,729
Goodwill		112,964		29,526			—			142,490
Total assets	$	1,976,612	$	264,810		$	(235,830	)	$	2,005,592
Liabilities and Stockholders’ Equity:
Amounts due on senior secured credit facility	$	265,647	$	—		$	—		$	265,647
Accounts payable		105,984		9,510			—			115,494
Manufacturer flooring plans payable		26,350		—			—			26,350
Accrued expenses payable and other liabilities		64,947		(3,325	)		—			61,622
Dividends payable		147		(54	)		—			93
Senior unsecured notes, net		944,977		—			—			944,977
Operating lease right-of-use liabilities		146,455		22,124			—			168,579
Finance lease right-of-use liabilities		—		725			—			725
Deferred income taxes		158,090		—			—			158,090
Deferred compensation payable		2,016		—			—			2,016
Total liabilities		1,714,613		28,980			—			1,743,593
Stockholders’ equity		261,999		235,830			(235,830	)		261,999
Total liabilities and stockholders’ equity	$	1,976,612	$	264,810		$	(235,830	)	$	2,005,592

CONDENSED CONSOLIDATING BALANCE SHEET

	As of December 31, 2018
	H&E Equipment Services		Guarantor Subsidiaries			Elimination			Consolidated
	(Amounts in thousands)
Assets:
Cash	$	16,677	$	—		$	—		$	16,677
Receivables, net		166,393		35,163			—			201,556
Inventories, net		94,483		10,115			—			104,598
Prepaid expenses and other assets		10,382		126			—			10,508
Rental equipment, net		983,281		158,217			—			1,141,498
Property and equipment, net		98,251		16,870			—			115,121
Deferred financing costs, net		3,000		—			—			3,000
Investment in guarantor subsidiaries		246,309		—			(246,309	)		—
Intangible assets, net		28,380		—						28,380
Goodwill		76,317		29,526			—			105,843
Total assets	$	1,723,473	$	250,017		$	(246,309	)	$	1,727,181
Liabilities and Stockholders’ Equity:
Amounts due under senior secured credit facility	$	170,761	$	—		$	—		$	170,761
Accounts payable		95,866		5,974			—			101,840
Manufacturer flooring plans payable		23,178		488			—			23,666
Accrued expenses payable and other liabilities		76,798		(3,427	)		—			73,371
Dividends payable		185		(53	)		—			132
Senior unsecured notes, net		944,780		—			—			944,780
Capital leases payable		—		726			—			726
Deferred income taxes		153,113		—			—			153,113
Deferred compensation payable		1,989		—			—			1,989
Total liabilities		1,466,670		3,708			—			1,470,378
Stockholders’ equity		256,803		246,309			(246,309	)		256,803
Total liabilities and stockholders’ equity	$	1,723,473	$	250,017		$	(246,309	)	$	1,727,181

Condensed Consolidating Statement of Income

CONDENSED CONSOLIDATING STATEMENT OF INCOME

	Three Months Ended March 31, 2019
	H&E Equipment Services			Guarantor Subsidiaries			Elimination			Consolidated
	(Amounts in thousands)
Revenues:
Equipment rentals	$	153,533		$	22,596		$	—		$	176,129
New equipment sales		52,575			6,528			—			59,103
Used equipment sales		25,212			4,422			—			29,634
Parts sales		26,554			3,874			—			30,428
Services revenues		13,166			2,402			—			15,568
Other		1,393			1,383			—			2,776
Total revenues		272,433			41,205			—			313,638
Cost of revenues:
Rental depreciation		49,263			7,885			—			57,148
Rental expense		21,152			3,616			—			24,768
Rental other		14,063			2,212						16,275
		84,478			13,713			—			98,191
New equipment sales		46,460			5,639			—			52,099
Used equipment sales		16,211			2,801			—			19,012
Parts sales		19,591			2,698			—			22,289
Services revenues		4,282			722			—			5,004
Other		2,710			633			—			3,343
Total cost of revenues		173,732			26,206			—			199,938
Gross profit (loss):
Equipment rentals		69,055			8,883			—			77,938
New equipment sales		6,115			889			—			7,004
Used equipment sales		9,001			1,621			—			10,622
Parts sales		6,963			1,176			—			8,139
Services revenues		8,884			1,680			—			10,564
Other		(1,317	)		750			—			(567	)
Gross profit		98,701			14,999			—			113,700
Selling, general and administrative expenses		68,556			10,091			—			78,647
Merger costs		119			—			—			119
Equity in earnings of guarantor subsidiaries		1,724			—			(1,724	)		—
Gain on sales of property and equipment, net		707			34			—			741
Income from operations		32,457			4,942			(1,724	)		35,675
Other income (expense):
Interest expense		(13,562	)		(3,293	)		—			(16,855	)
Other, net		457			75			—			532
Total other expense, net		(13,105	)		(3,218	)		—			(16,323	)
Income before income taxes		19,352			1,724			(1,724	)		19,352
Income tax expense		5,109			—			—			5,109
Net income	$	14,243		$	1,724		$	(1,724	)	$	14,243

CONDENSED CONSOLIDATING STATEMENT OF INCOME

	Three Months Ended March 31, 2018
	H&E Equipment Services			Guarantor Subsidiaries			Elimination			Consolidated
	(Amounts in thousands)
Revenues:
Equipment rentals	$	117,184		$	19,854		$	—		$	137,038
New equipment sales		39,901			6,592			—			46,493
Used equipment sales		20,226			4,627			—			24,853
Parts sales		24,347			3,804			—			28,151
Services revenues		12,782			2,254			—			15,036
Other		7,592			1,319			—			8,911
Total revenues		222,032			38,450			—			260,482
Cost of revenues:
Rental depreciation		39,559			6,910			—			46,469
Rental expense		18,261			3,011			—			21,272
Rental other		9,889			2,211						12,100
		67,709			12,132			—			79,841
New equipment sales		35,083			5,762			—			40,845
Used equipment sales		13,832			3,105			—			16,937
Parts sales		17,956			2,661			—			20,617
Services revenues		4,361			689			—			5,050
Other		4,027			580			—			4,607
Total cost of revenues		142,968			24,929			—			167,897
Gross profit (loss):
Equipment rentals		49,475			7,722			—			57,197
New equipment sales		4,818			830			—			5,648
Used equipment sales		6,394			1,522			—			7,916
Parts sales		6,391			1,143			—			7,534
Services revenues		8,421			1,565			—			9,986
Other		3,565			739			—			4,304
Gross profit		79,064			13,521			—			92,585
Selling, general and administrative expenses		55,009			10,871			—			65,880
Merger costs		152			—			—			152
Equity in earnings of guarantor subsidiaries		458			—			(458	)		—
Gain on sales of property and equipment, net		714			59			—			773
Income from operations		25,075			2,709			(458	)		27,326
Other income (expense):
Interest expense		(12,349	)		(2,304	)		—			(14,653	)
Other, net		342			53			—			395
Total other expense, net		(12,007	)		(2,251	)		—			(14,258	)
Income before income taxes		13,068			458			(458	)		13,068
Income tax benefit		3,590			—			—			3,590
Net income	$	9,478		$	458		$	(458	)	$	9,478

Condensed Consolidating Statement of Cash Flows

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

	Three Months Ended March 31, 2019
	H&E Equipment Services			Guarantor Subsidiaries			Elimination			Consolidated
	(Amounts in thousands)
Cash flows from operating activities:
Net income	$	14,243		$	1,724		$	(1,724	)	$	14,243
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization on property and equipment		5,692			787			—			6,479
Depreciation of rental equipment		49,263			7,885			—			57,148
Amortization of finance lease right-of-use assets		—			41			—			41
Amortization of intangible assets		952			—			—			952
Amortization of deferred financing costs		254			—			—			254
Accretion of note discount, net of premium amortization		120			—			—			120
Operating lease right-of-use liabilities, net		113			33						146
Provision for losses on accounts receivable		1,112			189			—			1,301
Provision for inventory obsolescence		42			—			—			42
Change in deferred income taxes		4,977			—			—			4,977
Stock-based compensation expense		1,188			—			—			1,188
Gain from sales of property and equipment, net		(707	)		(34	)		—			(741	)
Gain from sales of rental equipment, net		(9,004	)		(1,617	)		—			(10,621	)
Equity in earnings of guarantor subsidiaries		(1,724	)		—			1,724			—
Changes in operating assets and liabilities:
Receivables		8,863			8,742			—			17,605
Inventories		(51,703	)		(6,359	)		—			(58,062	)
Prepaid expenses and other assets		(2,109	)		(8	)		—			(2,117	)
Accounts payable		10,003			3,536			—			13,539
Manufacturer flooring plans payable		3,172			(488	)		—			2,684
Accrued expenses payable and other liabilities		(10,667	)		530			—			(10,137	)
Deferred compensation payable		27			—			—			27
Net cash provided by operating activities		24,107			14,961			—			39,068
Cash flows from investing activities:
Acquisition of business, net of cash acquired		(106,746	)		—						(106,746	)
Purchases of property and equipment		(5,446	)		(1,775	)		—			(7,221	)
Purchases of rental equipment		(43,311	)		(5,333	)		—			(48,644	)
Proceeds from sales of property and equipment		859			72			—			931
Proceeds from sales of rental equipment		24,012			4,280			—			28,292
Investment in subsidiaries		12,203			—			(12,203	)		—
Net cash used in investing activities.		(118,429	)		(2,756	)		(12,203	)		(133,388	)
Cash flows from financing activities:
Borrowings on senior secured credit facility		447,503			—			—			447,503
Payments on senior secured credit facility		(352,617	)		—			—			(352,617	)
Dividends paid		(9,831	)		(1	)		—			(9,832	)
Purchases of treasury stock		(387	)		—			—			(387	)
Payment of deferred financing costs		(525	)		—			—			(525	)
Payments on finance lease obligations		(56	)		(1	)		—			(57	)
Capital contributions		—			(12,203	)		12,203			—
Net cash provided by (used in) financing activities		84,087			(12,205	)		12,203			84,085
Net decrease in cash		(10,235	)		—			—			(10,235	)
Cash, beginning of period		16,677			—			—			16,677
Cash, end of period	$	6,442		$	—		$	—		$	6,442

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

	Three Months Ended March 31, 2018
	H&E Equipment Services			Guarantor Subsidiaries			Elimination			Consolidated
	(Amounts in thousands)
Cash flows from operating activities:
Net income	$	9,478		$	458		$	(458	)	$	9,478
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization on property and equipment		5,163			721			—			5,884
Depreciation of rental equipment		39,559			6,910			—			46,469
Amortization of intangible assets		705									705
Amortization of deferred financing costs		289			—			—			289
Accretion of note discount, net of premium amortization		120			—			—			120
Provision for losses on accounts receivable		593			224			—			817
Provision for inventory obsolescence		67			—			—			67
Change in deferred income taxes		4,456			—			—			4,456
Stock-based compensation expense		1,319			—			—			1,319
Gain from sales of property and equipment, net		(714	)		(59	)		—			(773	)
Gain from sales of rental equipment, net		(6,228	)		(1,517	)		—			(7,745	)
Equity in earnings of guarantor subsidiaries		(458	)		—			458			—
Changes in operating assets and liabilities:
Receivables		11,687			10,727			—			22,414
Inventories		(78,456	)		(10,218	)		—			(88,674	)
Prepaid expenses and other assets		(2,175	)		(62	)		—			(2,237	)
Accounts payable		45,770			(386	)		—			45,384
Manufacturer flooring plans payable		7,143			(1,033	)		—			6,110
Accrued expenses payable and other liabilities		(15,286	)		(513	)		—			(15,799	)
Deferred compensation payable		22			—			—			22
Net cash provided by operating activities		23,054			5,252			—			28,306
Cash flows from investing activities:
Acquisition of business, net of cash acquired		(125,207	)		—			—			(125,207	)
Purchases of property and equipment		(4,301	)		(204	)		—			(4,505	)
Purchases of rental equipment		(36,688	)		(3,966	)		—			(40,654	)
Proceeds from sales of property and equipment		726			59			—			785
Proceeds from sales of rental equipment		18,901			4,529			—			23,430
Investment in subsidiaries		5,613			—			(5,613	)		—
Net cash provided by (used in) investing activities		(140,956	)		418			(5,613	)		(146,151	)
Cash flows from financing activities:
Borrowings on senior secured credit facility		294,229			—			—			294,229
Payments on senior secured credit facility		(294,229	)		—			—			(294,229	)
Dividends paid		(9,804	)		—			—			(9,804	)
Payments of deferred financing costs		(88	)		—			—			(88	)
Payments on capital lease obligations		—			(57	)		—			(57	)
Capital contributions		—			(5,613	)		5,613			—
Net cash used in financing activities		(9,892	)		(5,670	)		5,613			(9,949	)
Net decrease in cash		(127,794	)		—			—			(127,794	)
Cash, beginning of period		165,878			—			—			165,878
Cash, end of period	$	38,084		$	—		$	—		$	38,084

Organization and Nature of Operations - Summary of Revenues, Cost of Revenues and Gross Profit as Previously Reported (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Revenues	$ 313,638	$ 260,482	$ 226,828
Cost of revenues:
Cost of revenues	199,938	167,897
Gross Profit	113,700	92,585
As Previously Reported [Member]
Revenues:
Revenues		260,482
Accounting Standards Update 2014-09 \| As Previously Reported [Member]
Revenues:
Revenues		260,482
Cost of revenues:
Cost of revenues		167,897
Gross Profit		92,585
Equipment Rentals [Member]
Revenues:
Revenues		137,038
Equipment Rentals [Member] \| Accounting Standards Update 2014-09 \| As Previously Reported [Member]
Revenues:
Revenues		129,361
Equipment Rentals [Member] \| Accounting Standards Update 2014-09 \| Hauling Fees [Member]
Revenues:
Revenues		7,677
New Equipment Sales [Member]
Revenues:
Revenues	59,103	46,493
Cost of revenues:
Cost of revenues		40,845
New Equipment Sales [Member] \| As Previously Reported [Member]
Revenues:
Revenues		46,493
New Equipment Sales [Member] \| Accounting Standards Update 2014-09 \| As Previously Reported [Member]
Revenues:
Revenues		46,493
Cost of revenues:
Cost of revenues		40,845
Used Equipment Sales [Member]
Revenues:
Revenues	29,634	24,853
Cost of revenues:
Cost of revenues		16,937
Used Equipment Sales [Member] \| As Previously Reported [Member]
Revenues:
Revenues		24,853
Used Equipment Sales [Member] \| Accounting Standards Update 2014-09 \| As Previously Reported [Member]
Revenues:
Revenues		24,853
Cost of revenues:
Cost of revenues		16,937
Parts Sales [Member]
Revenues:
Revenues	30,428	28,151
Cost of revenues:
Cost of revenues		20,617
Parts Sales [Member] \| As Previously Reported [Member]
Revenues:
Revenues		28,151
Parts Sales [Member] \| Accounting Standards Update 2014-09 \| As Previously Reported [Member]
Revenues:
Revenues		28,151
Cost of revenues:
Cost of revenues		20,617
Parts and Services [Member]
Revenues:
Revenues	15,568	15,036
Cost of revenues:
Cost of revenues		5,050
Parts and Services [Member] \| As Previously Reported [Member]
Revenues:
Revenues		15,036
Parts and Services [Member] \| Accounting Standards Update 2014-09 \| As Previously Reported [Member]
Revenues:
Revenues		15,036
Cost of revenues:
Cost of revenues		5,050
Other [Member]
Revenues:
Revenues	$ 2,776	8,911
Cost of revenues:
Cost of revenues		4,607
Other [Member] \| As Previously Reported [Member]
Revenues:
Revenues		8,911
Other [Member] \| Accounting Standards Update 2014-09 \| As Previously Reported [Member]
Revenues:
Revenues		16,588
Cost of revenues:
Cost of revenues		16,707
Other [Member] \| Accounting Standards Update 2014-09 \| Hauling Fees [Member]
Revenues:
Revenues		(7,677)
Cost of revenues:
Cost of revenues		(12,100)
Rental Depreciation [Member]
Cost of revenues:
Cost of revenues		46,469
Rental Depreciation [Member] \| Accounting Standards Update 2014-09 \| As Previously Reported [Member]
Cost of revenues:
Cost of revenues		46,469
Rental Expense [Member]
Cost of revenues:
Cost of revenues		21,272
Rental Expense [Member] \| Accounting Standards Update 2014-09 \| As Previously Reported [Member]
Cost of revenues:
Cost of revenues		21,272
Rentals Other [Member]
Cost of revenues:
Cost of revenues		12,100
Rentals Other [Member] \| Accounting Standards Update 2014-09 \| Hauling Fees [Member]
Cost of revenues:
Cost of revenues		12,100
Equipment Rentals [Member]
Cost of revenues:
Cost of revenues		79,841
Equipment Rentals [Member] \| Accounting Standards Update 2014-09 \| As Previously Reported [Member]
Cost of revenues:
Cost of revenues		67,741
Equipment Rentals [Member] \| Accounting Standards Update 2014-09 \| Hauling Fees [Member]
Cost of revenues:
Cost of revenues		$ 12,100

Significant Accounting Policies - Additional Information (Detail)	3 Months Ended		12 Months Ended
	Mar. 31, 2019 USD ($) Customer	Mar. 31, 2018 Customer	Dec. 31, 2018 Customer	Jan. 01, 2019 USD ($)
Summary Of Significant Accounting Policy [Line Items]
Adjustment to retained earnings	$ 73,647,000
Additional operating lease liabilities, net of deferred rent	168,579,000
Right-of-use operating lease assets	166,293,000
Finance lease liabilities recognized	725,000
Finance right-of-use lease assets	$ 487,000
Customer accounted for more than 10% of revenue \| Customer	0	0	0
Bad debt expense as a percentage of total revenues	0.40%	0.30%
ASU 2016-02 [Member]
Summary Of Significant Accounting Policy [Line Items]
Lease term	12 months
Additional operating lease liabilities, net of deferred rent	$ 162,800,000
Right-of-use operating lease assets	162,800,000
Finance lease liabilities recognized	800,000
Finance right-of-use lease assets	$ 500,000
ASU 2016-02 [Member] \| Maximum [Member]
Summary Of Significant Accounting Policy [Line Items]
Adjustment to retained earnings				$ 100,000

Significant Accounting Policies - Summary of Revenue by Type and by Applicable Accounting Standard (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Revenues	$ 313,638	$ 260,482	$ 226,828
As Previously Reported [Member]
Revenues:
Revenues		260,482
ASU 2016-02 [Member]
Revenues:
Revenues	166,873
Accounting Standards Update 2014-09
Revenues:
Revenues	146,765	125,376
Accounting Standards Update 2014-09 \| As Previously Reported [Member]
Revenues:
Revenues		260,482
Topic 840 [Member]
Revenues:
Revenues		135,106
Rental Revenues [Member] \| Owned Equipment Rentals [Member]
Revenues:
Revenues	153,624
Rental Revenues [Member] \| Owned Equipment Rentals [Member] \| As Previously Reported [Member]
Revenues:
Revenues		124,256
Rental Revenues [Member] \| Owned Equipment Rentals [Member] \| ASU 2016-02 [Member]
Revenues:
Revenues	153,350
Rental Revenues [Member] \| Owned Equipment Rentals [Member] \| Accounting Standards Update 2014-09
Revenues:
Revenues	274	522
Rental Revenues [Member] \| Owned Equipment Rentals [Member] \| Topic 840 [Member]
Revenues:
Revenues		123,734
Rental Revenues [Member] \| Re Rent Revenues [Member]
Revenues:
Revenues	6,036
Rental Revenues [Member] \| Re Rent Revenues [Member] \| As Previously Reported [Member]
Revenues:
Revenues		5,105
Rental Revenues [Member] \| Re Rent Revenues [Member] \| ASU 2016-02 [Member]
Revenues:
Revenues	6,036
Rental Revenues [Member] \| Re Rent Revenues [Member] \| Topic 840 [Member]
Revenues:
Revenues		5,105
Ancillary And Other Rental Revenues [Member]
Revenues:
Revenues	16,469
Ancillary And Other Rental Revenues [Member] \| As Previously Reported [Member]
Revenues:
Revenues		7,677
Ancillary And Other Rental Revenues [Member] \| ASU 2016-02 [Member]
Revenues:
Revenues	7,487
Ancillary And Other Rental Revenues [Member] \| Accounting Standards Update 2014-09
Revenues:
Revenues	8,982	7,677
Ancillary And Other Rental Revenues [Member] \| Delivery and Pick-up [Member]
Revenues:
Revenues	8,982
Ancillary And Other Rental Revenues [Member] \| Delivery and Pick-up [Member] \| As Previously Reported [Member]
Revenues:
Revenues		7,677
Ancillary And Other Rental Revenues [Member] \| Delivery and Pick-up [Member] \| Accounting Standards Update 2014-09
Revenues:
Revenues	8,982	7,677
Ancillary And Other Rental Revenues [Member] \| Other [Member]
Revenues:
Revenues	7,487
Ancillary And Other Rental Revenues [Member] \| Other [Member] \| ASU 2016-02 [Member]
Revenues:
Revenues	7,487
Total Equipment Rental Revenues [Member]
Revenues:
Revenues	176,129
Total Equipment Rental Revenues [Member] \| As Previously Reported [Member]
Revenues:
Revenues		137,038
Total Equipment Rental Revenues [Member] \| ASU 2016-02 [Member]
Revenues:
Revenues	166,873
Total Equipment Rental Revenues [Member] \| Accounting Standards Update 2014-09
Revenues:
Revenues	9,256	8,199
Total Equipment Rental Revenues [Member] \| Topic 840 [Member]
Revenues:
Revenues		128,839
New Equipment Sales [Member]
Revenues:
Revenues	59,103	46,493
New Equipment Sales [Member] \| As Previously Reported [Member]
Revenues:
Revenues		46,493
New Equipment Sales [Member] \| Accounting Standards Update 2014-09
Revenues:
Revenues	59,103	46,493
New Equipment Sales [Member] \| Accounting Standards Update 2014-09 \| As Previously Reported [Member]
Revenues:
Revenues		46,493
Used Equipment Sales [Member]
Revenues:
Revenues	29,634	24,853
Used Equipment Sales [Member] \| As Previously Reported [Member]
Revenues:
Revenues		24,853
Used Equipment Sales [Member] \| Accounting Standards Update 2014-09
Revenues:
Revenues	29,634	24,853
Used Equipment Sales [Member] \| Accounting Standards Update 2014-09 \| As Previously Reported [Member]
Revenues:
Revenues		24,853
Parts Sales [Member]
Revenues:
Revenues	30,428	28,151
Parts Sales [Member] \| As Previously Reported [Member]
Revenues:
Revenues		28,151
Parts Sales [Member] \| Accounting Standards Update 2014-09
Revenues:
Revenues	30,428	28,151
Parts Sales [Member] \| Accounting Standards Update 2014-09 \| As Previously Reported [Member]
Revenues:
Revenues		28,151
Parts and Services [Member]
Revenues:
Revenues	15,568	15,036
Parts and Services [Member] \| As Previously Reported [Member]
Revenues:
Revenues		15,036
Parts and Services [Member] \| Accounting Standards Update 2014-09
Revenues:
Revenues	15,568	15,036
Parts and Services [Member] \| Accounting Standards Update 2014-09 \| As Previously Reported [Member]
Revenues:
Revenues		15,036
Other [Member]
Revenues:
Revenues	2,776	8,911
Other [Member] \| As Previously Reported [Member]
Revenues:
Revenues		8,911
Other [Member] \| Accounting Standards Update 2014-09
Revenues:
Revenues	$ 2,776	2,644
Other [Member] \| Accounting Standards Update 2014-09 \| As Previously Reported [Member]
Revenues:
Revenues		16,588
Other [Member] \| Topic 840 [Member]
Revenues:
Revenues		$ 6,267

Acquisitions - Additional Information (Detail) $ / shares in Units, $ in Thousands				3 Months Ended
	Feb. 01, 2019 USD ($) Branch ReportingUnit	Apr. 01, 2018 USD ($) Branch ReportingUnit	Jan. 01, 2018 USD ($) Branch ReportingUnit	Mar. 31, 2019 USD ($) Location $ / shares	Mar. 31, 2018 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2018 USD ($)
Business Acquisition [Line Items]
Number of branches located \| Location				96
Acquisition costs				$ 119	$ 152
Goodwill				142,490			$ 105,843
Total revenues				313,638	260,482	$ 226,828
Net income				14,243	$ 9,478
CEC [Member]
Business Acquisition [Line Items]
Business acquisition, completion date			Jan. 01, 2018
Number of branches located \| Branch			3
Aggregate consideration paid to the owners			$ 132,400
Percentage of goodwill deductible for income tax purposes			100.00%
Acquisition costs			$ 1,000
Goodwill			$ 45,092
Number of goodwill reporting units \| ReportingUnit			6
Rental Inc [Member]
Business Acquisition [Line Items]
Business acquisition, completion date		Apr. 01, 2018
Number of branches located \| Branch		5
Aggregate consideration paid to the owners		$ 68,600
Percentage of goodwill deductible for income tax purposes		100.00%
Acquisition costs		$ 300
Goodwill		$ 29,554
Number of goodwill reporting units \| ReportingUnit		6
Rental Inc [Member] \| Purchase Agreement [Member]
Business Acquisition [Line Items]
Accrued purchase price consideration included in goodwill		$ 3,400
We-Rent-It [Member]
Business Acquisition [Line Items]
Business acquisition, completion date	Feb. 01, 2019
Number of branches located \| Branch	6
Aggregate consideration paid to the owners	$ 108,500
Percentage of goodwill deductible for income tax purposes	100.00%
Acquisition costs	$ 300
Goodwill	$ 36,647
Number of goodwill reporting units \| ReportingUnit	6
Total revenues				5,900
Net income				$ 800
Net income per share \| $ / shares				$ 0.02

Acquisitions - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Feb. 01, 2019	Dec. 31, 2018	Apr. 01, 2018	Jan. 01, 2018
Business Acquisition [Line Items]
Goodwill	$ 142,490		$ 105,843
CEC [Member]
Business Acquisition [Line Items]
Cash					$ 1,244
Accounts receivable					7,583
Inventory					504
Prepaid expenses and other assets					324
Rental equipment					55,342
Property and equipment					2,700
Intangible assets					21,500
Total identifiable assets acquired					89,197
Accounts payable					(1,023)
Accrued expenses payable and other liabilities					(876)
Total liabilities assumed					(1,899)
Net identifiable assets acquired					87,298
Goodwill					45,092
Net assets acquired					$ 132,390
Rental Inc [Member]
Business Acquisition [Line Items]
Cash				$ 260
Accounts receivable				2,873
Inventory				5,324
Prepaid expenses and other assets				47
Rental equipment				22,578
Property and equipment				1,935
Intangible assets				10,200
Total identifiable assets acquired				43,217
Accounts payable				(439)
Manufacturer flooring plans payable				(3,293)
Accrued expenses payable and other liabilities				(469)
Total liabilities assumed				(4,201)
Net identifiable assets acquired				39,016
Goodwill				29,554
Net assets acquired				$ 68,570
We-Rent-It [Member]
Business Acquisition [Line Items]
Cash		$ 1,745
Accounts receivable		5,149
Inventory		873
Prepaid expenses and other assets		544
Rental equipment		53,242
Property and equipment		3,959
Other assets		21
Intangible assets		7,300
Total identifiable assets acquired		72,833
Accounts payable		(115)
Accrued expenses payable and other liabilities		(874)
Total liabilities assumed		(989)
Net identifiable assets acquired		71,844
Goodwill		36,647
Net assets acquired		$ 108,491

Acquisitions - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) $ in Thousands	Feb. 01, 2019 USD ($) ReportingUnit	Apr. 01, 2018 USD ($) ReportingUnit	Jan. 01, 2018 USD ($) ReportingUnit	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Business Acquisition [Line Items]
Goodwill				$ 142,490	$ 105,843
CEC [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)			$ 21,500
Goodwill			$ 45,092
Number of goodwill reporting units \| ReportingUnit			6
CEC [Member] \| Rental Component 1 [Member]
Business Acquisition [Line Items]
Goodwill			$ 25,233
CEC [Member] \| Rental Component 2 [Member]
Business Acquisition [Line Items]
Goodwill			18,391
CEC [Member] \| New Equipment [Member]
Business Acquisition [Line Items]
Goodwill			217
CEC [Member] \| Used Equipment [Member]
Business Acquisition [Line Items]
Goodwill			632
CEC [Member] \| Parts [Member]
Business Acquisition [Line Items]
Goodwill			379
CEC [Member] \| Service [Member]
Business Acquisition [Line Items]
Goodwill			240
Rental Inc [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)		$ 10,200
Goodwill		$ 29,554
Number of goodwill reporting units \| ReportingUnit		6
Rental Inc [Member] \| Rental Component 1 [Member]
Business Acquisition [Line Items]
Goodwill		$ 9,064
Rental Inc [Member] \| Rental Component 2 [Member]
Business Acquisition [Line Items]
Goodwill		5,445
Rental Inc [Member] \| New Equipment [Member]
Business Acquisition [Line Items]
Goodwill		10,217
Rental Inc [Member] \| Used Equipment [Member]
Business Acquisition [Line Items]
Goodwill		1,692
Rental Inc [Member] \| Parts [Member]
Business Acquisition [Line Items]
Goodwill		2,171
Rental Inc [Member] \| Service [Member]
Business Acquisition [Line Items]
Goodwill		964
We-Rent-It [Member]
Business Acquisition [Line Items]
Goodwill	$ 36,647
Number of goodwill reporting units \| ReportingUnit	6
Customer Relationships [Member] \| CEC [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)			$ 21,000
Life (years)			10 years
Customer Relationships [Member] \| Rental Inc [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)		$ 10,000
Life (years)		10 years
Customer Relationships [Member] \| We-Rent-It [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)	$ 7,300
Life (years)	10 years
Tradenames [Member] \| CEC [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)			$ 300
Life (years)			1 year
Tradenames [Member] \| Rental Inc [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)		$ 200
Life (years)		1 year
Leasehold Interests [Member] \| CEC [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)			$ 200
Life (years)			10 years

Acquisitions - Unaudited Pro Forma Consolidated Statements of Income Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Business Acquisition [Line Items]
Total revenues	$ 313,638	$ 260,482	$ 226,828
Pretax income	19,352	13,068	8,530
Pro forma pretax income (loss)		13,068	8,530
Income tax expense (benefit)		3,590	3,140
Net income (loss)		$ 9,478	$ 5,390
Net income per share - basic		$ 0.27	$ 0.15
Net income per share – diluted		$ 0.26	$ 0.15
Pro forma adjustments to pretax income:
Total revenues		$ 268,069	$ 235,217
Pretax income		13,852	9,971
Pro forma adjustments to pretax income:
Impact of fair value mark-ups/useful life changes on depreciation		(250)	(903)
Intangible asset amortization		(122)	(705)
Pro forma pretax income (loss)		12,204	8,363
Interest expense		(1,356)
Elimination of historic interest expense		80
Income tax expense (benefit)		3,355	3,077
Net income (loss)		$ 8,849	$ 5,286
Net income per share - basic		$ 0.25	$ 0.15
Net income per share – diluted		$ 0.25	$ 0.15
CEC [Member]
Business Acquisition [Line Items]
Total revenues			$ 8,389
Pretax income			1,441
Pro forma adjustments to pretax income:
Impact of fair value mark-ups/useful life changes on depreciation			(903)
Intangible asset amortization			(705)
Pro forma pretax income (loss)			(167)
Income tax expense (benefit)			(63)
Net income (loss)			$ (104)
We-Rent-It [Member]
Business Acquisition [Line Items]
Total revenues	$ 5,900
Total revenues		$ 7,587
Pretax income		784
Pro forma adjustments to pretax income:
Impact of fair value mark-ups/useful life changes on depreciation		(250)
Intangible asset amortization		(122)
Pro forma pretax income (loss)		(864)
Interest expense		(1,356)
Elimination of historic interest expense		80
Income tax expense (benefit)		(235)
Net income (loss)		$ (629)
Net income per share - basic		$ (0.02)
Net income per share – diluted		$ (0.02)

Fair Value of Financial Instruments - Estimated Incremental Borrowing Rates for Similar Types of Borrowing Arrangements (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Level 3 [Member] \| Carrying Amount [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable with interest computed at 5.50% (Level 3)	$ 26,350	$ 23,666
Capital leases payable with interest computed at 5.929% to 9.55% (Level 3)		726
Level 3 [Member] \| Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable with interest computed at 5.50% (Level 3)	22,281	19,870
Capital leases payable with interest computed at 5.929% to 9.55% (Level 3)		330
Letter of credit (Level 3)	97	116
Level 2 [Member] \| Carrying Amount [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes with interest computed at 5.625% (Level 2)	944,977	944,780
Level 2 [Member] \| Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes with interest computed at 5.625% (Level 2)	$ 947,625	$ 871,625

Fair Value of Financial Instruments - Estimated Incremental Borrowing Rates for Similar Types of Borrowing Arrangements (Parenthetical) (Detail)	Mar. 31, 2019	Dec. 31, 2018
Level 3 [Member] \| Carrying Amount [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable, interest rate	5.50%	5.50%
Capital lease payable, interest rate, minimum		5.929%
Capital lease payable interest rate, maximum		9.55%
Level 3 [Member] \| Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable, interest rate	5.50%	5.50%
Capital lease payable, interest rate, minimum		5.929%
Capital lease payable interest rate, maximum		9.55%
Level 2 [Member] \| Carrying Amount [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes, interest rate	5.625%	5.625%
Level 2 [Member] \| Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes, interest rate	5.625%	5.625%

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Transfer of financial assets	$ 0	$ 0
Transfer of financial liabilities	$ 0	$ 0

Stockholders' Equity - Summary of Activity in Stockholders' Equity (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 256,803	$ 216,793
Beginning Balances, shares	39,748,562
Stock-based compensation	$ 1,188	1,319
Cash dividends declared on common stock ($0.275 per share)	(9,793)	(9,845)
Issuance of common stock, net of forfeitures	1
Repurchase of 14,272 shares of restricted common stock	(387)
Cumulative effect adjustment pursuant to the adoption of ASC 842	(56)
Net income	14,243	9,478
Ending Balances	$ 261,999	217,745
Ending Balances, shares	39,808,072
Common Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 396	$ 395
Beginning Balances, shares	39,748,562	39,623,773
Issuance of common stock, net of forfeitures	$ 1	$ 9,534
Issuance of common stock, net of forfeitures, shares	59,510
Ending Balances	$ 397	$ 395
Ending Balances, shares	39,808,072	39,633,307
Additional Paid-in Capital [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 231,174	$ 227,070
Stock-based compensation	1,188	1,319
Ending Balances	232,362	228,389
Treasury Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	(63,099)	(61,749)
Repurchase of 14,272 shares of restricted common stock	(387)
Ending Balances	(63,486)	(61,749)
Retained Earnings [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	88,332	51,077
Cash dividends declared on common stock ($0.275 per share)	(9,793)	(9,845)
Cumulative effect adjustment pursuant to the adoption of ASC 842	(56)
Net income	14,243	9,478
Ending Balances	$ 92,726	$ 50,710

Stockholders' Equity - Summary of Activity in Stockholders' Equity (Parenthetical) (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Schedule of Capitalization, Equity [Line Items]
Cash dividends declared on common stock, per share	$ 0.275	$ 0.275
Repurchase of restricted common stock, shares	14,272
Retained Earnings [Member]
Schedule of Capitalization, Equity [Line Items]
Cash dividends declared on common stock, per share	$ 0.275	$ 0.275

Stock-Based Compensation - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($) shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense related to non-vested stock \| $	$ 4.2
Expected non-vested stock recognized over a weighted-average period	1 year 8 months 12 days
2016 Stock-Based Incentive Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-Based incentive compensation plan \| shares	1,760,106

Stock-Based Compensation - Schedule of Non-Vested Stock Activity (Detail)	3 Months Ended
	Mar. 31, 2019 $ / shares shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Non-vested stock, beginning balance, Number of Shares \| shares	379,559
Granted, Number of Shares \| shares	20,923
Vested, Number of Shares \| shares	(57,296)
Forfeited, Number of Shares \| shares	(25,120)
Non-vested stock, ending balance, Number of Shares \| shares	318,066
Non-vested stock, beginning balance, Weighted Average Grant Date Fair Value \| $ / shares	$ 25.87
Granted, Weighted Average Grant Date Fair Value \| $ / shares	26.77
Vested, Weighted Average Grant Date Fair Value \| $ / shares	21.60
Forfeited, Weighted Average Grant Date Fair Value \| $ / shares	19.80
Non-vested stock, ending balance, Weighted Average Grant Date Fair Value \| $ / shares	$ 27.18

Stock-Based Compensation - Schedule of Compensation Expense Related to Non-Vested Stock (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Compensation expense	$ 1,188	$ 1,319

Income per Share - Additional Information (Detail)	3 Months Ended
Income per Share - Additional Information (Detail)	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Restricted common shares, percentage	0.70%	0.70%

Income per Share - Summary of Computation of Basic and Diluted Net Income Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Basic net income per share:
Net income	$ 14,243	$ 9,478
Weighted average number of common shares outstanding	35,787	35,592
Net income per share of common stock – basic	$ 0.40	$ 0.27
Diluted net income per share:
Net income	$ 14,243	$ 9,478
Weighted average number of common shares outstanding	35,787	35,592
Effect of dilutive securities:
Weighted average number of common shares outstanding – diluted	35,973	35,879
Net income per share of common stock – diluted	$ 0.40	$ 0.26
Non-vested restricted stock [Member]
Effect of dilutive securities:
Effect of dilutive stock options and non-vested restricted stock	186	287
Common shares excluded from the denominator as anti-dilutive:
Common shares excluded from the denominator as anti-dilutive	37

Senior Secured Credit Facility - Additional Information (Detail) - USD ($)				3 Months Ended
	Feb. 01, 2019	Dec. 22, 2017	Dec. 21, 2017	Mar. 31, 2019	Apr. 22, 2019
Wells Fargo Capital Finance, LLC [Member] \| Credit Facility [Member]
Debt Instrument [Line Items]
Existing credit facility with its lenders				$ 750,000,000.0
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Existing credit facility with its lenders		$ 750,000,000	$ 602,500,000
Debt instrument maturity date description	extended the maturity date of the credit facility from December 22, 2022 to January 31, 2024			extended the maturity date of the Credit Facility from May 21, 2019 to December 22, 2022
Debt instrument maturity date	Jan. 31, 2024	Dec. 22, 2022	May 21, 2019
Uncommitted incremental revolving capacity		$ 250,000,000	$ 150,000,000
Outstanding letters of credit				$ 265,600,000
Available borrowings under our senior secured credit facility				$ 476,700,000
Revolving Credit Facility [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Outstanding letters of credit					$ 7,700,000
Available borrowings under our senior secured credit facility					$ 462,100,000
Revolving Credit Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Unused commitment fee margin percentage				0.375%
Revolving Credit Facility [Member] \| Maximum [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Margin rate lowered in applicable to Letter of Credit				2.00%
Revolving Credit Facility [Member] \| Maximum [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Applicable margin Percentage	0.75%			1.00%
Revolving Credit Facility [Member] \| Maximum [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Applicable margin Percentage	1.75%			2.00%
Revolving Credit Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Unused commitment fee margin percentage				0.25%
Revolving Credit Facility [Member] \| Minimum [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Margin rate lowered in applicable to Letter of Credit				1.50%
Revolving Credit Facility [Member] \| Minimum [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Applicable margin Percentage	0.25%			0.50%
Revolving Credit Facility [Member] \| Minimum [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Applicable margin Percentage	1.25%			1.50%
Letter of Credit Sub-Facility, and Guaranty [Member]
Debt Instrument [Line Items]
Existing credit facility with its lenders	$ 30,000,000

Senior Unsecured Notes - Additional Information (Detail) - USD ($)	Nov. 22, 2017	Sep. 25, 2017	Aug. 24, 2017	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Estimated offering expenses				$ 3,347,000	$ 3,000,000
Add-on Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount	$ 200,000,000
Senior unsecured notes, interest rate	5.625%
Senior unsecured notes, maturity year	2025
Net proceeds from sale of notes	$ 209,200
Price percentage for Add-on Notes, Principal amount	104.25%
5.6250% Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount			$ 750,000,000
Senior unsecured notes, interest rate			5.625%
Senior unsecured notes, maturity year			2025
Estimated offering expenses			$ 10,300,000
Net proceeds from sale of notes			$ 739,700,000
Redemption price percentage as equal to principal amount of old notes to be redeemed			101.00%
Principal payments due until maturity			$ 0
Maturity date of notes			Sep. 01, 2025
Debt instrument, Payment terms			The New Notes were issued at par and require semiannual interest payments on March 1st and September 1st of each year, commencing on March 1, 2018. No principal payments are due until maturity (September 1, 2025).
Debt Instrument, Redemption description			The New Notes are redeemable, in whole or in part, at any time on or after September 1, 2020 at specified redemption prices plus accrued and unpaid interest to the date of redemption. We may redeem up to 40% of the aggregate principal amount of the New Notes before September 1, 2020 with the net cash proceeds from certain equity offerings. We may also redeem the New Notes prior to September 1, 2020 at a specified “make-whole” redemption price plus accrued and unpaid interest to the date of redemption.
5.6250% Senior Notes [Member] \| Maximum [Member] \| Before September 1, 2020 [Member]
Debt Instrument [Line Items]
Percentage of principal amount of new notes may be redeemed			40.00%
7% Senior Notes [Member]
Debt Instrument [Line Items]
Senior unsecured notes, interest rate			7.00%
Senior unsecured notes, maturity year			2022
Repurchase of notes			$ 329,700,000
Early tender deadline amount received on debt instrument			1,038.90
Principal amount of old notes			$ 1,000
Remaining principal amount outstanding of old notes redeemed		$ 300,300,000
Redemption price percentage as equal to principal amount of old notes to be redeemed		103.50%

Senior Unsecured Notes - Reconciliation of Senior Unsecured Notes to Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Debt Instrument [Line Items]
Senior unsecured notes, beginning balance	$ 944,780
Amortization of deferred financing costs	254	$ 289
Senior unsecured notes, ending balance	944,977		$ 944,780
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Senior unsecured notes, beginning balance	944,780	$ 944,088	944,088
Accretion of discount	385		1,539
Amortization of note premium	(265)		(1,062)
Amortization of deferred financing costs	77		312
Senior unsecured notes, ending balance	$ 944,977		944,780
Senior Unsecured Notes [Member] \| 5.6250% Senior Notes [Member]
Debt Instrument [Line Items]
Additional deferred financing costs			$ (97)

Leases - Additional Information (Detail) $ in Thousands	Mar. 31, 2019 USD ($) Location
Leases [Abstract]
Number of operating leases locations related to real estate and improvements \| Location	84
Number of branch locations \| Location	96
Net operating lease right-of-use assets	$ 166,293
Net finance lease right-of-use assets	487
Operating lease liabilities	168,579
Finance lease liabilities	$ 725
Weighted average remaining lease term for operating leases	11 years 2 months 12 days
Weighted average remaining lease term for finance leases	3 years
Weighted average discount rate for operating leases	6.90%
Weighted average discount rate for finance leases	5.90%

Leases - Summary of Lease Costs for Operating and Finance Leases (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Finance lease cost
Amortization of leased assets	$ 41
Total lease cost	5,631
SG&A Expenses [Member]
Lessee Lease Description [Line Items]
Operating lease cost	5,575
Finance lease cost
Amortization of leased assets	41
Variable lease cost	124
Interest Expense [Member]
Finance lease cost
Interest of lease liabilities	11
Other Income [Member]
Finance lease cost
Sublease income	$ (120)

Leases - Summary of Supplemental Cash Flow Information Related to Leases (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$ 5,429
Operating cash flows for finance leases	11
Finance cash flows for finance leases	$ 57

Leases - Summary of Undiscounted Cash Flows and Operating Lease Liabilities Recorded on Condensed Consolidated Balance Sheet (Detail) $ in Thousands	Mar. 31, 2019 USD ($)
Operating Leases
2019	$ 16,533
2020	21,976
2021	21,921
2022	21,867
2023	21,823
Thereafter	138,106
Total minimum lease payments	242,226
Less: amount of lease payments representing interest	(73,647)
Additional operating lease liabilities, net of deferred rent	168,579
Finance Leases
2019	203
2020	270
2021	270
2022	45
Total minimum lease payments	788
Less: amount of lease payments representing interest	(63)
Finance lease liabilities recognized	$ 725

Segment Information - Additional Information (Detail)	3 Months Ended		12 Months Ended
Segment Information - Additional Information (Detail)	Mar. 31, 2019 Customer Segment	Mar. 31, 2018 Customer	Dec. 31, 2018 Customer
Segment Reporting [Abstract]
Number of reportable segment \| Segment	5
Sales to international customers	0.30%	0.40%
Customer accounted for more than 10% of revenue \| Customer	0	0	0

Segment Information - Schedule of Information about Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2018
Segment Revenues:
Revenues	$ 313,638	$ 260,482	$ 226,828
Segment Gross Profit:
Total gross profit	113,700	92,585
Segment identified assets:
Total assets	2,005,592			$ 1,727,181
Equipment Rentals [Member]
Segment Revenues:
Revenues	176,129	137,038
Segment Gross Profit:
Total gross profit	77,938	57,197
New Equipment Sales [Member]
Segment Revenues:
Revenues	59,103	46,493
Segment Gross Profit:
Total gross profit	7,004	5,648
Used Equipment Sales [Member]
Segment Revenues:
Revenues	29,634	24,853
Segment Gross Profit:
Total gross profit	10,622	7,916
Parts Sales [Member]
Segment Revenues:
Revenues	30,428	28,151
Segment Gross Profit:
Total gross profit	8,139	7,534
Services Revenues [Member]
Segment Revenues:
Revenues	15,568	15,036
Segment Gross Profit:
Total gross profit	10,564	9,986
Operating Segments [Member]
Segment Revenues:
Revenues	310,862	257,838
Segment Gross Profit:
Total gross profit	114,267	92,983
Segment identified assets:
Total assets	1,332,055			1,246,096
Operating Segments [Member] \| Equipment Rentals [Member]
Segment Revenues:
Revenues	176,129	143,305
Segment Gross Profit:
Total gross profit	77,938	61,899
Segment identified assets:
Total assets	1,189,677			1,141,498
Operating Segments [Member] \| New Equipment Sales [Member]
Segment Revenues:
Revenues	59,103	46,493
Segment Gross Profit:
Total gross profit	7,004	5,648
Operating Segments [Member] \| Used Equipment Sales [Member]
Segment Revenues:
Revenues	29,634	24,853
Segment Gross Profit:
Total gross profit	10,622	7,916
Segment identified assets:
Total assets	122,833			86,583
Operating Segments [Member] \| Parts Sales [Member]
Segment Revenues:
Revenues	30,428	28,151
Segment Gross Profit:
Total gross profit	8,139	7,534
Operating Segments [Member] \| Services Revenues [Member]
Segment Revenues:
Revenues	15,568	15,036
Segment Gross Profit:
Total gross profit	10,564	9,986
Operating Segments [Member] \| Parts and Services [Member]
Segment identified assets:
Total assets	19,545			18,015
Non-Segmented [Member]
Segment Revenues:
Revenues	2,776	2,644
Segment Gross Profit:
Total gross profit	(567)	$ (398)
Segment identified assets:
Total assets	$ 673,537			$ 481,085

Condensed Consolidating Financial Information of Guarantor Subsidiaries - Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Assets:
Cash	$ 6,442	$ 16,677
Receivables, net	188,343	201,556
Inventories, net	142,379	104,598
Prepaid expenses and other assets	12,646	10,508
Rental equipment, net	1,189,677	1,141,498
Property and equipment, net	118,759	115,121
Operating lease right-of-use assets, net	166,293
Finance lease right-of-use assets, net	487
Deferred financing costs, net	3,347	3,000
Intangible assets, net	34,729	28,380
Goodwill	142,490	105,843
Total assets	2,005,592	1,727,181
Liabilities and Stockholders’ Equity:
Amounts due on senior secured credit facility	265,647	170,761
Accounts payable	115,494	101,840
Manufacturer flooring plans payable	26,350	23,666
Accrued expenses payable and other liabilities	61,622	73,371
Dividends payable	93	132
Senior unsecured notes, net	944,977	944,780
Capital leases payable		726
Operating lease right-of-use liabilities	168,579
Finance lease right-of-use liabilities	725
Deferred income taxes	158,090	153,113
Deferred compensation payable	2,016	1,989
Total liabilities	1,743,593	1,470,378
Stockholders’ equity	261,999	256,803	$ 217,745	$ 216,793
Total liabilities and stockholders’ equity	2,005,592	1,727,181
Reportable Legal Entities [Member] \| H & E Equipment Services [Member]
Assets:
Cash	6,442	16,677
Receivables, net	162,111	166,393
Inventories, net	128,334	94,483
Prepaid expenses and other assets	12,512	10,382
Rental equipment, net	1,034,246	983,281
Property and equipment, net	101,467	98,251
Operating lease right-of-use assets, net	144,630
Deferred financing costs, net	3,347	3,000
Investment in guarantor subsidiaries	235,830	246,309
Intangible assets, net	34,729	28,380
Goodwill	112,964	76,317
Total assets	1,976,612	1,723,473
Liabilities and Stockholders’ Equity:
Amounts due on senior secured credit facility	265,647	170,761
Accounts payable	105,984	95,866
Manufacturer flooring plans payable	26,350	23,178
Accrued expenses payable and other liabilities	64,947	76,798
Dividends payable	147	185
Senior unsecured notes, net	944,977	944,780
Operating lease right-of-use liabilities	146,455
Deferred income taxes	158,090	153,113
Deferred compensation payable	2,016	1,989
Total liabilities	1,714,613	1,466,670
Stockholders’ equity	261,999	256,803
Total liabilities and stockholders’ equity	1,976,612	1,723,473
Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
Assets:
Receivables, net	26,232	35,163
Inventories, net	14,045	10,115
Prepaid expenses and other assets	134	126
Rental equipment, net	155,431	158,217
Property and equipment, net	17,292	16,870
Operating lease right-of-use assets, net	21,663
Finance lease right-of-use assets, net	487
Goodwill	29,526	29,526
Total assets	264,810	250,017
Liabilities and Stockholders’ Equity:
Accounts payable	9,510	5,974
Manufacturer flooring plans payable		488
Accrued expenses payable and other liabilities	(3,325)	(3,427)
Dividends payable	(54)	(53)
Capital leases payable		726
Operating lease right-of-use liabilities	22,124
Finance lease right-of-use liabilities	725
Total liabilities	28,980	3,708
Stockholders’ equity	235,830	246,309
Total liabilities and stockholders’ equity	264,810	250,017
Elimination [Member]
Assets:
Investment in guarantor subsidiaries	(235,830)	(246,309)
Total assets	(235,830)	(246,309)
Liabilities and Stockholders’ Equity:
Stockholders’ equity	(235,830)	(246,309)
Total liabilities and stockholders’ equity	$ (235,830)	$ (246,309)

Condensed Consolidating Financial Information of Guarantor Subsidiaries - Condensed Consolidating Statement of Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Revenues	$ 313,638	$ 260,482	$ 226,828
Cost of revenues:
Cost of revenues	199,938	167,897
Gross profit (loss):
Gross profit	113,700	92,585
Selling, general and administrative expenses	78,647	65,880
Merger costs	119	152
Gain on sales of property and equipment, net	741	773
Income from operations	35,675	27,326
Other income (expense):
Interest expense	(16,855)	(14,653)
Other, net	532	395
Total other expense, net	(16,323)	(14,258)
Income before provision for income taxes	19,352	13,068	$ 8,530
Income tax expense	5,109	3,590
Net income	14,243	9,478
Reportable Legal Entities [Member] \| H & E Equipment Services [Member]
Revenues:
Revenues	272,433	222,032
Cost of revenues:
Cost of revenues	173,732	142,968
Gross profit (loss):
Gross profit	98,701	79,064
Selling, general and administrative expenses	68,556	55,009
Merger costs	119	152
Equity in earnings of guarantor subsidiaries	1,724	458
Gain on sales of property and equipment, net	707	714
Income from operations	32,457	25,075
Other income (expense):
Interest expense	(13,562)	(12,349)
Other, net	457	342
Total other expense, net	(13,105)	(12,007)
Income before provision for income taxes	19,352	13,068
Income tax expense	5,109	3,590
Net income	14,243	9,478
Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
Revenues:
Revenues	41,205	38,450
Cost of revenues:
Cost of revenues	26,206	24,929
Gross profit (loss):
Gross profit	14,999	13,521
Selling, general and administrative expenses	10,091	10,871
Gain on sales of property and equipment, net	34	59
Income from operations	4,942	2,709
Other income (expense):
Interest expense	(3,293)	(2,304)
Other, net	75	53
Total other expense, net	(3,218)	(2,251)
Income before provision for income taxes	1,724	458
Net income	1,724	458
Elimination [Member]
Gross profit (loss):
Equity in earnings of guarantor subsidiaries	(1,724)	(458)
Income from operations	(1,724)	(458)
Other income (expense):
Income before provision for income taxes	(1,724)	(458)
Net income	(1,724)	(458)
Equipment Rentals [Member]
Revenues:
Revenues	176,129	137,038
Cost of revenues:
Cost of revenues	98,191	79,841
Gross profit (loss):
Gross profit	77,938	57,197
Equipment Rentals [Member] \| Rentals Other [Member]
Cost of revenues:
Cost of revenues	16,275	12,100
Equipment Rentals [Member] \| Rental Depreciation [Member]
Cost of revenues:
Cost of revenues	57,148	46,469
Equipment Rentals [Member] \| Rental Expense [Member]
Cost of revenues:
Cost of revenues	24,768	21,272
Equipment Rentals [Member] \| Reportable Legal Entities [Member] \| H & E Equipment Services [Member]
Revenues:
Revenues	153,533	117,184
Cost of revenues:
Cost of revenues	84,478	67,709
Gross profit (loss):
Gross profit	69,055	49,475
Equipment Rentals [Member] \| Reportable Legal Entities [Member] \| H & E Equipment Services [Member] \| Rentals Other [Member]
Cost of revenues:
Cost of revenues	14,063	9,889
Equipment Rentals [Member] \| Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
Revenues:
Revenues	22,596	19,854
Cost of revenues:
Cost of revenues	13,713	12,132
Gross profit (loss):
Gross profit	8,883	7,722
Equipment Rentals [Member] \| Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member] \| Rentals Other [Member]
Cost of revenues:
Cost of revenues	2,212	2,211
Equipment Rentals [Member] \| Reportable Legal Entities [Member] \| Rental Depreciation [Member] \| H & E Equipment Services [Member]
Cost of revenues:
Cost of revenues	49,263	39,559
Equipment Rentals [Member] \| Reportable Legal Entities [Member] \| Rental Depreciation [Member] \| Guarantor Subsidiaries [Member]
Cost of revenues:
Cost of revenues	7,885	6,910
Equipment Rentals [Member] \| Reportable Legal Entities [Member] \| Rental Expense [Member] \| H & E Equipment Services [Member]
Cost of revenues:
Cost of revenues	21,152	18,261
Equipment Rentals [Member] \| Reportable Legal Entities [Member] \| Rental Expense [Member] \| Guarantor Subsidiaries [Member]
Cost of revenues:
Cost of revenues	3,616	3,011
New Equipment Sales [Member]
Revenues:
Revenues	59,103	46,493
Cost of revenues:
Cost of revenues	52,099	40,845
Gross profit (loss):
Gross profit	7,004	5,648
New Equipment Sales [Member] \| Reportable Legal Entities [Member] \| H & E Equipment Services [Member]
Revenues:
Revenues	52,575	39,901
Cost of revenues:
Cost of revenues	46,460	35,083
Gross profit (loss):
Gross profit	6,115	4,818
New Equipment Sales [Member] \| Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
Revenues:
Revenues	6,528	6,592
Cost of revenues:
Cost of revenues	5,639	5,762
Gross profit (loss):
Gross profit	889	830
Used Equipment Sales [Member]
Revenues:
Revenues	29,634	24,853
Cost of revenues:
Cost of revenues	19,012	16,937
Gross profit (loss):
Gross profit	10,622	7,916
Used Equipment Sales [Member] \| Reportable Legal Entities [Member] \| H & E Equipment Services [Member]
Revenues:
Revenues	25,212	20,226
Cost of revenues:
Cost of revenues	16,211	13,832
Gross profit (loss):
Gross profit	9,001	6,394
Used Equipment Sales [Member] \| Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
Revenues:
Revenues	4,422	4,627
Cost of revenues:
Cost of revenues	2,801	3,105
Gross profit (loss):
Gross profit	1,621	1,522
Parts Sales [Member]
Revenues:
Revenues	30,428	28,151
Cost of revenues:
Cost of revenues	22,289	20,617
Gross profit (loss):
Gross profit	8,139	7,534
Parts Sales [Member] \| Reportable Legal Entities [Member] \| H & E Equipment Services [Member]
Revenues:
Revenues	26,554	24,347
Cost of revenues:
Cost of revenues	19,591	17,956
Gross profit (loss):
Gross profit	6,963	6,391
Parts Sales [Member] \| Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
Revenues:
Revenues	3,874	3,804
Cost of revenues:
Cost of revenues	2,698	2,661
Gross profit (loss):
Gross profit	1,176	1,143
Services Revenues [Member]
Revenues:
Revenues	15,568	15,036
Cost of revenues:
Cost of revenues	5,004	5,050
Gross profit (loss):
Gross profit	10,564	9,986
Services Revenues [Member] \| Reportable Legal Entities [Member] \| H & E Equipment Services [Member]
Revenues:
Revenues	13,166	12,782
Cost of revenues:
Cost of revenues	4,282	4,361
Gross profit (loss):
Gross profit	8,884	8,421
Services Revenues [Member] \| Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
Revenues:
Revenues	2,402	2,254
Cost of revenues:
Cost of revenues	722	689
Gross profit (loss):
Gross profit	1,680	1,565
Other [Member]
Revenues:
Revenues	2,776	8,911
Cost of revenues:
Cost of revenues	3,343	4,607
Gross profit (loss):
Gross profit	(567)	4,304
Other [Member] \| Reportable Legal Entities [Member] \| H & E Equipment Services [Member]
Revenues:
Revenues	1,393	7,592
Cost of revenues:
Cost of revenues	2,710	4,027
Gross profit (loss):
Gross profit	(1,317)	3,565
Other [Member] \| Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
Revenues:
Revenues	1,383	1,319
Cost of revenues:
Cost of revenues	633	580
Gross profit (loss):
Gross profit	$ 750	$ 739

Condensed Consolidating Financial Information of Guarantor Subsidiaries - Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 14,243	$ 9,478
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization on property and equipment	6,479	5,884
Depreciation of rental equipment	57,148	46,469
Amortization of finance lease right-of-use assets	41
Amortization of intangible assets	952	705
Amortization of deferred financing costs	254	289
Accretion of note discount, net of premium amortization	120	120
Operating lease right-of-use liabilities, net	146
Provision for losses on accounts receivable	1,301	817
Provision for inventory obsolescence	42	67
Change in deferred income taxes	4,977	4,456
Stock-based compensation expense	1,188	1,319
Gain from sales of property and equipment, net	(741)	(773)
Gain from sales of rental equipment, net	(10,621)	(7,745)
Changes in operating assets and liabilities, net of acquisitions:
Receivables	17,605	22,414
Inventories	(58,062)	(88,674)
Prepaid expenses and other assets	(2,117)	(2,237)
Accounts payable	13,539	45,384
Manufacturer flooring plans payable	2,684	6,110
Accrued expenses payable and other liabilities	(10,137)	(15,799)
Deferred compensation payable	27	22
Net cash provided by operating activities	39,068	28,306
Cash flows from investing activities:
Acquisition of business, net of cash acquired	(106,746)	(125,207)
Purchases of property and equipment	(7,221)	(4,505)
Purchases of rental equipment	(48,644)	(40,654)
Proceeds from sales of property and equipment	931	785
Proceeds from sales of rental equipment	28,292	23,430
Net cash used in investing activities	(133,388)	(146,151)
Cash flows from financing activities:
Borrowings on senior secured credit facility	447,503	294,229
Payments on senior secured credit facility	(352,617)	(294,229)
Dividends paid	(9,832)	(9,804)
Purchases of treasury stock	(387)
Payment of deferred financing costs	(525)	(88)
Payments on finance lease obligations	(57)
Payments on capital lease obligations		(57)
Net cash provided by (used in) financing activities	84,085	(9,949)
Net decrease in cash	(10,235)	(127,794)
Cash, beginning of period	16,677	165,878	$ 165,878
Cash, end of period	6,442	38,084	16,677
Reportable Legal Entities [Member] \| H & E Equipment Services [Member]
Cash flows from operating activities:
Net income	14,243	9,478
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization on property and equipment	5,692	5,163
Depreciation of rental equipment	49,263	39,559
Amortization of intangible assets	952	705
Amortization of deferred financing costs	254	289
Accretion of note discount, net of premium amortization	120	120
Operating lease right-of-use liabilities, net	113
Provision for losses on accounts receivable	1,112	593
Provision for inventory obsolescence	42	67
Change in deferred income taxes	4,977	4,456
Stock-based compensation expense	1,188	1,319
Gain from sales of property and equipment, net	(707)	(714)
Gain from sales of rental equipment, net	(9,004)	(6,228)
Equity in earnings of guarantor subsidiaries	(1,724)	(458)
Changes in operating assets and liabilities, net of acquisitions:
Receivables	8,863	11,687
Inventories	(51,703)	(78,456)
Prepaid expenses and other assets	(2,109)	(2,175)
Accounts payable	10,003	45,770
Manufacturer flooring plans payable	3,172	7,143
Accrued expenses payable and other liabilities	(10,667)	(15,286)
Deferred compensation payable	27	22
Net cash provided by operating activities	24,107	23,054
Cash flows from investing activities:
Acquisition of business, net of cash acquired	(106,746)	(125,207)
Purchases of property and equipment	(5,446)	(4,301)
Purchases of rental equipment	(43,311)	(36,688)
Proceeds from sales of property and equipment	859	726
Proceeds from sales of rental equipment	24,012	18,901
Investment in subsidiaries	12,203	5,613
Net cash used in investing activities	(118,429)	(140,956)
Cash flows from financing activities:
Borrowings on senior secured credit facility	447,503	294,229
Payments on senior secured credit facility	(352,617)	(294,229)
Dividends paid	(9,831)	(9,804)
Purchases of treasury stock	(387)
Payment of deferred financing costs	(525)	(88)
Payments on finance lease obligations	(56)
Net cash provided by (used in) financing activities	84,087	(9,892)
Net decrease in cash	(10,235)	(127,794)
Cash, beginning of period	16,677	165,878	165,878
Cash, end of period	6,442	38,084	$ 16,677
Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income	1,724	458
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization on property and equipment	787	721
Depreciation of rental equipment	7,885	6,910
Amortization of finance lease right-of-use assets	41
Operating lease right-of-use liabilities, net	33
Provision for losses on accounts receivable	189	224
Gain from sales of property and equipment, net	(34)	(59)
Gain from sales of rental equipment, net	(1,617)	(1,517)
Changes in operating assets and liabilities, net of acquisitions:
Receivables	8,742	10,727
Inventories	(6,359)	(10,218)
Prepaid expenses and other assets	(8)	(62)
Accounts payable	3,536	(386)
Manufacturer flooring plans payable	(488)	(1,033)
Accrued expenses payable and other liabilities	530	(513)
Net cash provided by operating activities	14,961	5,252
Cash flows from investing activities:
Purchases of property and equipment	(1,775)	(204)
Purchases of rental equipment	(5,333)	(3,966)
Proceeds from sales of property and equipment	72	59
Proceeds from sales of rental equipment	4,280	4,529
Net cash used in investing activities	(2,756)	418
Cash flows from financing activities:
Dividends paid	(1)
Payments on finance lease obligations	(1)
Payments on capital lease obligations		(57)
Capital contributions	(12,203)	(5,613)
Net cash provided by (used in) financing activities	(12,205)	(5,670)
Elimination [Member]
Cash flows from operating activities:
Net income	(1,724)	(458)
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of guarantor subsidiaries	1,724	458
Cash flows from investing activities:
Investment in subsidiaries	(12,203)	(5,613)
Net cash used in investing activities	(12,203)	(5,613)
Cash flows from financing activities:
Capital contributions	12,203	5,613
Net cash provided by (used in) financing activities	$ 12,203	$ 5,613