0000950170-24-087831 | 10-Q | XBRL Viewer | HE Equipment Services INC

Significant Accounting Policies - Additional Information (Detail) - Customer	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Summary Of Significant Accounting Policy [Line Items]
Customer accounted for more than 10% of revenue	0	0	0	0
Bad debt expense as a percentage of total revenues			0.40%	0.30%
Salvage value	25.00%		25.00%
Accounting Standards Update [Extensible Enumeration]			us-gaap:AccountingStandardsUpdate202307Member
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2024		Jan. 01, 2024
Change in accounting principle, accounting standards update, adopted	true		true
Change in accounting principle, accounting standards update, immaterial effect	true		true
Cranes and Aerial Work Platform [Member]
Summary Of Significant Accounting Policy [Line Items]
Estimated useful life	10 years		10 years
Earthmoving Equipment [Member]
Summary Of Significant Accounting Policy [Line Items]
Estimated useful life	5 years		5 years
Material Handling Equipment [Member]
Summary Of Significant Accounting Policy [Line Items]
Estimated useful life	7 years		7 years
Attachments and Other Equipment [Member]
Summary Of Significant Accounting Policy [Line Items]
Estimated useful life	3 years		3 years
Topic 842 [Member] \| Customer Concentration Risk [Member] \| Revenues [Member]
Summary Of Significant Accounting Policy [Line Items]
Percentage of revenue/purchase			76.00%

Stock-Based Compensation

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

(6) Stock-Based Compensation

Stock-based compensation is measured at the grant date, based on the calculated fair value of the award, net of an estimated forfeiture rate, and is recognized as an expense over the requisite employee service period (generally the vesting period of the grant). The estimated forfeiture rate is based on historical experience and revised, if necessary, in subsequent periods for actual forfeitures.

Our Amended and Restated 2016 Stock-Based Incentive Compensation Plan (the “2016 Plan”) is administered by the Compensation Committee of our Board of Directors, which selects persons eligible to receive awards and determines the number of shares and/or options subject to each award, the terms, conditions, performance measures, if any, and other provisions of the award. Under the 2016 Plan, we may offer deferred shares or restricted shares of our common stock and grant options, including both incentive stock options and nonqualified stock options, to purchase shares of our common stock. Shares available for future stock-based payment awards under our 2016 Plan were 2,360,083 shares of common stock as of June 30, 2024.

Non-vested Stock

The following table summarizes our non-vested stock activity for the six months ended June 30, 2024:


	Number of Shares			Weighted Average Grant Date Fair Value
Non-vested stock at December 31, 2023		497,396		$	40.73
Granted		73,063		$	38.33
Vested		(139,584	)	$	36.28
Forfeited		(7,790	)	$	42.71
Non-vested stock at June 30, 2024		423,085		$	41.74

As of June 30, 2024, we had unrecognized compensation expense of approximately $10.2 million related to non-vested stock that we expect to be recognized over a weighted-average period of approximately 1.5 years. The following table summarizes compensation

expense related to non-vested stock, which is included in SG&A expenses in the accompanying condensed consolidated statements of income for the three and six months ended June 30, 2024 and 2023 (amounts in thousands):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Compensation expense	$	2,202	$	2,039	$	5,990	$	5,029

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Jul. 23, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
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		36,522,703
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity File Number	000-51759
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-0553291
Entity Address, Address Line One	7500 Pecue Lane
Entity Address, City or Town	Baton Rouge
Entity Address, State or Province	LA
Entity Address, Postal Zip Code	70809
City Area Code	225
Local Phone Number	298-5200
Document Transition Report	false
Document Quarterly Report	true

Stock-Based Compensation - Schedule of Compensation Expense Related to Non-Vested Stock (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Compensation expense	$ 2,202	$ 2,039	$ 5,990	$ 5,029

Stock-Based Compensation - Schedule of Non-Vested Stock Activity (Detail)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share-Based Payment Arrangement [Abstract]
Non-vested stock, beginning balance, Number of Shares \| shares	497,396
Granted, Number of Shares \| shares	73,063
Vested, Number of Shares \| shares	(139,584)
Forfeited, Number of Shares \| shares	(7,790)
Non-vested stock, ending balance, Number of Shares \| shares	423,085
Non-vested stock, beginning balance, Weighted Average Grant Date Fair Value \| $ / shares	$ 40.73
Granted, Weighted Average Grant Date Fair Value \| $ / shares	38.33
Vested, Weighted Average Grant Date Fair Value \| $ / shares	36.28
Forfeited, Weighted Average Grant Date Fair Value \| $ / shares	42.71
Non-vested stock, ending balance, Weighted Average Grant Date Fair Value \| $ / shares	$ 41.74

Senior Secured Credit Facility

6 Months Ended

Jun. 30, 2024

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 Bank, National Association, as administrative agent, and the lenders named therein. For further information related to significant terms of the Credit Facility, see Note 10 to the Company’s Consolidated Financial Statements included as Item 8 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

At June 30, 2024, we had $287.3 million outstanding under the Credit Facility and could borrow up to approximately $450.4 million, net of a $12.3 million outstanding letter of credit. As of June 30, 2024, the weighted average interest rate under the Credit Facility was approximately 7.2%. As of June 30, 2024, we were in compliance with our financial covenants under the Amended and Restated Credit Agreement.

The aggregate amounts outstanding as of June 30, 2024 under both the Credit Facility and our Senior Secured Notes (Note 9) of $1,537.3 million mature during 2028.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Segment Information

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segment Information

(11) Segment Information

We have identified four reportable segments: equipment rentals, sales of rental equipment, sales of new equipment, and parts, service and other revenues. These segments are based upon revenue streams and how management of the Company allocates resources and assesses performance. 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 our reportable segments.

We revised our reportable segments by aggregating parts sales and service revenues into one segment during the quarter ended June 30, 2024 due to revised internal reporting provided to our Chief Operating Decision Maker. We previously reported five segments as noted in our Consolidated Financial Statements included as Item 8 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. The presentation of prior period information disclosed below has been revised to reflect this change.

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				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Segment Revenues:
Equipment rentals	$	312,356	$	291,459	$	607,681	$	553,467
Sales of rental equipment		34,937		39,653		83,052		71,768
Sales of new equipment		10,670		8,857		21,082		16,675
Parts, service and other		18,319		20,263		35,824		40,804
Total revenues	$	376,282	$	360,232	$	747,639	$	682,714
Segment Gross Profit:
Equipment rentals	$	142,247	$	136,439	$	270,144	$	250,733
Sales of rental equipment		21,817		23,438		52,103		42,265
Sales of new equipment		1,798		1,322		3,571		2,359
Parts, service and other		5,418		7,162		10,327		14,382
Total gross profit	$	171,280	$	168,361	$	336,145	$	309,739


	Balances at
	June 30,		December 31,
	2024		2023
Segment identified assets:
Equipment rentals	$	1,910,777	$	1,756,578
Equipment sales		8,904		98,045
Parts, service and other		931,136		785,263
Total assets	$	2,850,817	$	2,639,886

The Company operates primarily in the United States. Our sales to international customers for both the three months ended June 30, 2024 and 2023 and for both the six months ended June 30, 2024 and 2023 were 0.1% of total revenues. No one customer accounted for more than 10% of our total revenues for any of the periods presented.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Stockholders' Equity

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Stockholders' Equity

(5) Stockholders’ Equity

The following table summarizes the activity in Stockholders’ Equity for the three and six months ended June 30, 2024 and 2023, respectively (amounts in thousands, except share and per share data):


	Common Stock					Additional								Total
	Shares Issued			Amount		Paid-in Capital		Treasury Stock			Retained Earnings			Stockholders’ Equity
Balances at December 31, 2023		40,823,375		$	408	$	261,927	$	(76,017	)	$	347,971		$	534,289
Stock-based compensation		—			—		3,788		—			—			3,788
Cash dividends declared on common stock ($0.275 per share)		—			—		—		—			(9,900	)		(9,900	)
Issuance of common stock, net of forfeitures		137,436			2		—		—			—			2
Repurchase of 57,662 shares of restricted common stock		—			—		—		(3,390	)		—			(3,390	)
Net income		—			—		—		—			25,889			25,889
Balances at March 31, 2024		40,960,811			410		265,715		(79,407	)		363,960			550,678
Stock-based compensation		—			—		2,202		—			—			2,202
Cash dividends declared on common stock ($0.275 per share)		—			—		—		—			(10,092	)		(10,092	)
Restricted stock forfeitures		(5,642	)		—		—		—			—			—
Net income		—			—		—		—			33,261			33,261
Balances at June 30, 2024		40,955,169		$	410	$	267,917	$	(79,407	)	$	387,129		$	576,049

Balances at December 31, 2022		40,567,876		$	405	$	251,901	$	(69,964	)	$	218,700		$	401,042
Stock-based compensation		—			—		2,990		—			—			2,990
Cash dividends declared on common stock ($0.275 per share)		—			—		—		—			(9,794	)		(9,794	)
Issuance of common stock, net of forfeitures		132,501			1		—		—			—			1
Repurchase of 58,211 shares of restricted common stock		—			—		—		(3,226	)		—			(3,226	)
Net income		—			—		—		—			25,674			25,674
Balances at March 31, 2023		40,700,377			406		254,891		(73,190	)		234,580			416,687
Stock-based compensation		—			—		2,039		—			—			2,039
Cash dividends declared on common stock ($0.275 per share)		—			—		—		—			(10,046	)		(10,046	)
Restricted stock forfeitures		(5,323	)		—		—		—			—			—
Net income		—			—		—		—			41,216			41,216
Balances at June 30, 2023		40,695,054		$	406	$	256,930	$	(73,190	)	$	265,750		$	449,896

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Income per Share (Tables)

6 Months Ended

Jun. 30, 2024

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 and six months ended June 30, 2024 and 2023 (amounts in thousands, except per share amounts):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Net income	$	33,261	$	41,216	$	59,150	$	66,890

Weighted average number of common shares outstanding:
Basic		36,248		36,075		36,222		36,050
Effect of dilutive non-vested restricted stock		222		227		295		277
Diluted		36,470		36,302		36,517		36,327

Income per share:
Basic net income per share	$	0.92	$	1.14	$	1.63	$	1.86
Diluted net income per share	$	0.91	$	1.14	$	1.62	$	1.84

Common shares excluded from the denominator as anti-dilutive:
Non-vested restricted stock		—		—		—		—

Dividends declared per common share outstanding	$	0.275	$	0.275	$	0.55	$	0.55

Stockholders' Equity - Summary of Activity in Stockholders' Equity (Parenthetical) (Detail) - $ / shares	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Schedule of Capitalization, Equity [Line Items]
Cash dividends declared on common stock, per share	$ 0.275		$ 0.275		$ 0.55	$ 0.55
Repurchase of restricted common stock, shares		57,662		58,211
Retained Earnings [Member]
Schedule of Capitalization, Equity [Line Items]
Cash dividends declared on common stock, per share	$ 0.275	$ 0.275	$ 0.275	$ 0.275

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net income	$ 59,150	$ 66,890
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization of property and equipment	22,056	16,326
Depreciation of rental equipment	183,796	167,785
Amortization of finance lease right-of-use assets	190	81
Amortization of intangible assets	5,070	3,365
Amortization of deferred financing costs	699	660
Accretion of note discount, net of premium amortization	586	586
Non-cash operating lease expense	11,229	9,204
Provision for losses on accounts receivable	2,675	1,846
Provision for inventory obsolescence	0	6
Change in deferred income taxes	15,415	19,970
Stock-based compensation expense	5,990	5,029
Gain from sales of property and equipment, net	(4,785)	(1,103)
Gain from sales of rental equipment, net	(52,077)	(42,121)
Changes in operating assets and liabilities:
Receivables	1,793	(3,184)
Inventories	3,046	(154,719)
Prepaid expenses and other assets	(9,287)	(13,333)
Accounts payable	(22,128)	61,710
Manufacturer flooring plans payable	(66)	2,084
Accrued expenses payable and other liabilities	(6,992)	(6,172)
Net cash provided by (used in) operating activities	216,360	134,910
Cash flows from investing activities:
Acquisition of business	(157,656)	0
Purchases of property and equipment	(77,054)	(33,393)
Purchases of rental equipment	(151,834)	(308,142)
Proceeds from sales of property and equipment	5,530	1,474
Proceeds from sales of rental equipment	82,704	71,146
Net cash used in investing activities	(298,310)	(268,915)
Cash flows from financing activities:
Borrowings on senior secured credit facility	1,023,868	876,440
Payments on senior secured credit facility	(918,215)	(748,653)
Dividends paid	(20,072)	(19,993)
Purchases of treasury stock	(3,390)	(3,226)
Payments of deferred financing costs	0	(4,939)
Payments of finance lease obligations	(132)	(52)
Net cash provided by (used in) financing activities	82,059	99,577
Net increase (decrease) in cash	109	(34,428)
Cash, beginning of period	8,500	81,330	$ 81,330
Cash, end of period	8,609	46,902	$ 8,500
Non-cash asset purchases:
Rental fleet in accounts payable and accrued expenses payable and other liabilities	49,591	0
Assets transferred from inventory to rental fleet	84,994	66,982
Purchases of property and equipment included in accrued expenses payable and other liabilities	872	545
Operating lease assets obtained in exchange for new operating lease liabilities	26,111	14,076
Cash paid during the period for:
Interest	35,375	26,481
Income taxes paid (net of refunds received)	$ 9,281	$ 3,877

Acquisitions and Dispositions - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($)
$ in Thousands

Jun. 30, 2024

May 01, 2024

Jan. 01, 2024

Dec. 31, 2023

Nov. 01, 2023

Dec. 31, 2022

Oct. 01, 2022

Business Acquisition [Line Items]

Goodwill

^[1]

$ 134,643

$ 108,155

$ 102,690

Lewistown Rentals [Member]

Business Acquisition [Line Items]

Accounts receivable

$ 1,026

Prepaid expenses and other assets

Rental equipment

18,987

Property and equipment

1,559

Intangible assets

^[2]

3,800

Total identifiable assets acquired

25,373

Accounts payable

(71)

Accrued expenses payable and other liabilities

(28)

Total liabilities assumed

(99)

Net identifiable assets acquired

25,274

Goodwill

^[3]

8,401

Net assets acquired

$ 33,675

Precision Rentals [Member]

Business Acquisition [Line Items]

Accounts receivable

$ 4,120

Prepaid expenses and other assets

Rental equipment

63,215

Property and equipment

2,122

Operating lease right-of-use assets

Intangible assets

^[4]

33,700

Total identifiable assets acquired

103,251

Accounts payable

(57)

Accrued expenses payable and other liabilities

(832)

Operating lease liabilities

(68)

Total liabilities assumed

(957)

Net identifiable assets acquired

102,294

Goodwill

^[5]

18,187

Net assets acquired

120,481

Noncompetition agreement intangible asset

^[4],[6]

3,500

Total cumulative consideration

$ 123,981

Giffin Equipment [Member]

Business Acquisition [Line Items]

Accounts receivable

$ 870

Prepaid expenses and other assets

Rental equipment

12,291

Property and equipment

431

Operating lease right-of-use assets

121

Intangible assets

^[7]

6,500

Total identifiable assets acquired

20,223

Accrued expenses payable and other liabilities

(19)

Operating lease liabilities

(121)

Total liabilities assumed

(140)

Net identifiable assets acquired

20,083

Goodwill

^[8]

11,182

Net assets acquired

$ 31,265

One Source Equipment Rentals, Inc [Member]

Business Acquisition [Line Items]

Cash

$ 337

Accounts receivable

10,406

Inventory

332

Prepaid expenses and other assets

374

Rental equipment

102,436

Property and equipment

4,216

Operating lease right-of-use assets

2,388

Intangible assets

^[9]

12,300

Total identifiable assets acquired

132,789

Accounts payable

(4,723)

Tax payable

(786)

Operating lease liabilities

(2,388)

Deferred income taxes

(27,653)

Total liabilities assumed

(35,550)

Net identifiable assets acquired

97,239

Goodwill

^[10]

39,451

Net assets acquired

$ 136,690

[1]

The total carrying amount of goodwill as of December 31, 2022 in the table above is reflected net of $92.7 million of accumulated impairment charges. The total carrying amount of goodwill as of December 31, 2023 and June 30, 2024 in the table above is reflected net of $98.4 million of accumulated impairment charges.

[2]

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


	Fair Value (amounts in thousands)		Life (years)
Customer relationships	$	3,800		10

[3]

The acquired goodwill has been allocated to the equipment rentals reporting unit.

[4]

The following table reflects the fair values and useful lives of the acquired intangible assets:


	Fair Value (amounts in thousands)		Life (years)
Customer relationships	$	33,700		10
Noncompetition agreements		3,500		5
	$	37,200

[5]

The acquired goodwill has been allocated to the equipment rentals reporting unit.

[6]

The fair value of the noncompetition agreements is considered to be a separate transaction under ASC 805 and as such, has been excluded from the purchase price.

[7]

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


	Fair Value (amounts in thousands)		Life (years)
Customer relationships	$	3,900		10
Noncompetition agreements		2,600		5
	$	6,500

[8]

The acquired goodwill has been allocated to the equipment rentals reporting unit.

[9]

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	$	10,600		10
Noncompetition agreements		1,700		1
	$	12,300

[10]

The acquired goodwill has been allocated to the equipment rentals reporting unit.

Stock-Based Compensation - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) shares
Share-Based Compensation Arrangement By Share-Based Payment Award [Line Items]
Unrecognized compensation expense related to non-vested stock \| $	$ 10.2
Expected non-vested stock recognized over a weighted-average period	1 year 6 months
Amended and Restated 2016 Stock-Based Incentive Compensation Plan
Share-Based Compensation Arrangement By Share-Based Payment Award [Line Items]
Stock-Based incentive compensation plan \| shares	2,360,083

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Leases - Additional Information (Detail) $ in Millions	Jun. 30, 2024 USD ($)
Leases [Abstract]
Weighted average remaining lease term for operating leases	7 years 4 months 24 days
Weighted average remaining lease term for finance leases	8 years 6 months
Weighted average discount rate for operating leases	6.40%
Weighted average discount rate for finance leases	6.00%
Future minimum operating lease payments 2024	$ 0.9
Future minimum operating lease payments 2025	3.7
Future minimum operating lease payments 2026	4.4
Future minimum operating lease payments 2027	4.5
Future minimum operating lease payments 2028	4.7
Future minimum operating lease payments thereafter	$ 33.0

Acquisitions and Dispositions

6 Months Ended

Jun. 30, 2024

Acquisitions and Dispositions [Abstract]

Acquisitions and Dispositions

(3) Acquisitions and Dispositions

2024 Acquisitions

Lewistown Rentals

Effective May 1, 2024, we completed the acquisition of Lewistown Rentals (“Lewistown”), a Lewistown, Montana-based equipment rental business and three of its affiliated rental operations in Havre, Glasgow and Great Falls, Montana. The acquisition expands our presence in the Montana market.

The aggregate cash consideration paid was approximately $33.7 million. The acquisition and related fees and expenses were funded from available cash and borrowings. The following table summarizes the fair value of the assets acquired and liabilities assumed as of the acquisition date. The opening balance sheet amounts presented below are preliminary and subject to change as we obtain additional information during the acquisition measurement period regarding each asset acquired and liability assumed and finalize customary closing adjustments with the seller.


	$’s in thousands
Accounts receivable	$	1,026
Prepaid expenses and other assets		1
Rental equipment		18,987
Property and equipment		1,559
Customer relationships intangible asset (1)		3,800
Total identifiable assets acquired		25,373
Accounts payable		(71	)
Accrued expenses payable and other liabilities		(28	)
Total liabilities assumed		(99	)
Net identifiable assets acquired		25,274
Goodwill (2)		8,401
Net assets acquired	$	33,675

(1)

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


	Fair Value (amounts in thousands)		Life (years)
Customer relationships	$	3,800		10

(2)

The acquired goodwill has been allocated to the equipment rentals reporting unit.

The level of goodwill that resulted from the Lewistown acquisition is primarily reflective of Lewistown’s going-concern value, the value of 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.

Acquisition costs for three and six months ended June 30, 2024 were $0.2 million and $0.4 million, respectively, included within selling, general and administrative (“SG&A”) expenses on the condensed consolidated statement of income. Since our acquisition of Lewistown on May 1, 2024, significant amounts of equipment rental fleet have been moved between H&E locations and the acquired locations, and it is impractical to reasonably estimate the amount of Lewistown revenues and earnings since the acquisition date.

The assets and liabilities were recorded as of May 1, 2024 and the results of operations are included in the Company's consolidated results as of that date.

Precision Rentals

Effective January 1, 2024, we completed the acquisition of Precision Rentals (“Precision”), an equipment rental company with a branch located in each of Arizona and Colorado. The acquisition expands our presence in both geographic markets.

The aggregate cumulative cash consideration paid was approximately $124.0 million, which includes $3.5 million of fair value allocated to a noncompete agreement which is accounted for as a separate transaction from the net assets acquired in the business combination. The acquisition and related fees and expenses were funded from available cash and borrowings. Customary closing adjustments were finalized during the second quarter of 2024. The following table summarizes the fair value of the assets acquired and liabilities assumed as of the acquisition date.


	$’s in thousands
Accounts receivable	$	4,120
Prepaid expenses and other assets		26
Rental equipment		63,215
Property and equipment		2,122
Operating lease right-of-use assets		68
Customer relationships intangible asset (1)		33,700
Total identifiable assets acquired		103,251
Accounts payable		(57	)
Accrued expenses payable and other liabilities		(832	)
Operating lease liabilities		(68	)
Total liabilities assumed		(957	)
Net identifiable assets acquired		102,294
Goodwill (2)		18,187
Net assets acquired		120,481
Noncompetition agreement intangible asset (1)(3)		3,500
Total cumulative consideration	$	123,981

(1)

The following table reflects the fair values and useful lives of the acquired intangible assets:


	Fair Value (amounts in thousands)		Life (years)
Customer relationships	$	33,700		10
Noncompetition agreements		3,500		5
	$	37,200

(2)

The acquired goodwill has been allocated to the equipment rentals reporting unit.

(3)

The fair value of the noncompetition agreements is considered to be a separate transaction under ASC 805 and as such, has been excluded from the purchase price.

The level of goodwill that resulted from the Precision acquisition is primarily reflective of Precision’s going-concern value, the value of 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.

Acquisition costs for three and six months ended June 30, 2024 were $0.1 million and $0.3 million, respectively, included within SG&A expenses on the condensed consolidated statement of income. Since our acquisition of Precision on January 1, 2024, significant amounts of equipment rental fleet have been moved between H&E locations and the acquired locations, and it is impractical to reasonably estimate the amount of Precision revenues and earnings since the acquisition date.

The assets and liabilities were recorded as of January 1, 2024 and the results of operations are included in the Company's consolidated results as of that date.

2023 Acquisition

Giffin Equipment

Effective November 1, 2023, we completed the acquisition of Mel Giffin, Inc. (d/b/a Giffin Equipment) (“Giffin”), an equipment rental company with three branches located in California. The acquisition expands our presence in the California market.

The aggregate cash consideration paid was approximately $31.3 million. The acquisition and related fees and expenses were funded from available cash and borrowings. The following table summarizes the fair value of the assets acquired and liabilities assumed as of the acquisition date. The opening balance sheet amounts presented below are preliminary and subject to change as we obtain additional information during the acquisition measurement period regarding each asset acquired and liability assumed and finalize customary closing adjustments with the seller.


	$’s in thousands
Accounts receivable	$	870
Prepaid expenses and other assets		10
Rental equipment		12,291
Property and equipment		431
Operating lease right-of-use assets		121
Intangible assets (1)		6,500
Total identifiable assets acquired		20,223
Accrued expenses payable and other liabilities		(19	)
Operating lease liabilities		(121	)
Total liabilities assumed		(140	)
Net identifiable assets acquired		20,083
Goodwill (2)		11,182
Net assets acquired	$	31,265

(1)

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


	Fair Value (amounts in thousands)		Life (years)
Customer relationships	$	3,900		10
Noncompetition agreements		2,600		5
	$	6,500

(2)

The acquired goodwill has been allocated to the equipment rentals reporting unit.

The level of goodwill that resulted from the Giffin acquisition is primarily reflective of Giffin’s going-concern value, the value of 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.

Acquisition costs for the six months ended June 30, 2024 were $0.1 million included within SG&A expenses on the condensed consolidated statement of income. Since our acquisition of Giffin on November 1, 2023, significant amounts of equipment rental fleet have been moved between H&E locations and the acquired locations, and it is impractical to reasonably estimate the amount of Giffin revenues and earnings since the acquisition date.

The assets and liabilities were recorded as of November 1, 2023 and the results of operations are included in the Company's consolidated results as of that date.

2022 Acquisition

One Source Equipment Rentals, Inc.

Effective October 1, 2022, we acquired 100% of the equity of One Source Equipment Rentals, Inc. (“OSR”), an equipment rental company with ten branches located in the Midwest. The acquisition expands our presence in the surrounding market, including initial locations in Illinois, Indiana, and Kentucky.

The aggregate cash consideration paid was approximately $136.7 million. The acquisition and related fees and expenses were funded from available cash. Customary closing adjustments were finalized during the first quarter of 2023 and the update of a tax estimate upon filing the final tax returns concluded during the third quarter of 2023. The following table summarizes the fair value of the assets acquired and liabilities assumed as of the acquisition date.


	$'s in thousands
Cash	$	337
Accounts receivable		10,406
Inventory		332
Prepaid expenses and other assets		374
Rental equipment		102,436
Property and equipment		4,216
Operating lease right-of-use assets		2,388
Intangible assets (1)		12,300
Total identifiable assets acquired		132,789
Accounts payable		(4,723	)
Tax payable		(786	)
Operating lease liabilities		(2,388	)
Deferred income taxes		(27,653	)
Total liabilities assumed		(35,550	)
Net identifiable assets acquired		97,239
Goodwill (2)		39,451
Net assets acquired	$	136,690

(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	$	10,600		10
Noncompetition agreements		1,700		1
	$	12,300

(2)

The acquired goodwill has been allocated to the equipment rentals reporting unit.

Included in the total goodwill amount of $39.5 million is approximately $0.8 million of accrued purchase price consideration 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 OSR acquisition is primarily reflective of OSR’s going-concern value, the value of assembled workforce, new customer relationships expected to arise from the acquisition and expected synergies from combining operations.

Total acquisition costs were $0.8 million and included within SG&A expenses on the consolidated statement of income during the year ended December 31, 2022. Since our acquisition of OSR on October 1, 2022, significant amounts of equipment rental fleet have been moved between H&E locations and the acquired locations, and it is impractical to reasonably estimate the amount of OSR revenues and earnings since the acquisition date.

The assets and liabilities were recorded as of October 1, 2022 and the results of operations are included in the Company's consolidated results as of that date.

Pro forma financial information (unaudited)

We completed the Giffin acquisition effective November 1, 2023, the Precision acquisition effective January 1, 2024 and the Lewistown acquisition effective May 1, 2024; therefore, our reported condensed consolidated statements of income for the quarter ended June 30, 2023 does not include Giffin, Precision or Lewistown and the three and six months ended June 30, 2024 does not include Lewistown for the entire period.

The unaudited pro forma information in the table below (amounts in thousands) is for informational purposes only and gives effect to the Giffin, Precision and Lewistown acquisitions had all been completed on January 1, 2023 (the “pro forma acquisition date”). The unaudited pro forma information is not necessarily indicative of our results of operations had the acquisition been completed on the pro forma acquisition date, nor is it necessarily indicative of our future results. The unaudited pro forma information does not reflect any cost savings from operating efficiencies or synergies that could result from the acquisition, nor does it reflect additional revenue opportunities following the acquisition. The unaudited pro forma financial information includes adjustments primarily related to the incremental depreciation and amortization expense of the rental equipment and intangible assets acquired, the elimination of interest expense related to historical debt as well as other expenses that are not part of the combined entity and transaction expenses.


	Pro Forma (unaudited)
	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Total revenues	$	377,009	$	373,444	$	750,546	$	708,931
Net income	$	33,199	$	40,623	$	58,903	$	65,664

Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Summary of Revenues by Type and by Applicable Accounting Standard

In the table below, revenues as presented in our condensed consolidated statements of income for the three and six months ended June 30, 2024 and 2023 are summarized by type and by the applicable accounting standard.


	Three Months Ended June 30,
	2024						2023
	Topic 842		Topic 606		Total		Topic 842		Topic 606		Total
Revenues:
Rental revenues
Owned equipment rentals	$	267,162	$	205	$	267,367	$	250,718	$	113	$	250,831
Re-rent revenue		8,106		—		8,106		7,892		—		7,892
Ancillary and other rental revenues:
Delivery and pick-up		—		20,242		20,242		—		17,674		17,674
Other		16,641		—		16,641		15,062		—		15,062
Total ancillary rental revenues		16,641		20,242		36,883		15,062		17,674		32,736
Total equipment rental revenues		291,909		20,447		312,356		273,672		17,787		291,459
Sales of rental equipment		—		34,937		34,937		—		39,653		39,653
Sales of new equipment		—		10,670		10,670		—		8,857		8,857
Parts, service and other		—		18,319		18,319		—		20,263		20,263
Total revenues	$	291,909	$	84,373	$	376,282	$	273,672	$	86,560	$	360,232


	Six Months Ended June 30,
	2024						2023
	Topic 842		Topic 606		Total		Topic 842		Topic 606		Total
Revenues:
Rental revenues
Owned equipment rentals	$	520,460	$	327	$	520,787	$	474,298	$	250	$	474,548
Re-rent revenue		16,427		—		16,427		16,251		—		16,251
Ancillary and other rental revenues:
Delivery and pick-up		—		38,849		38,849		—		33,165		33,165
Other		31,618		—		31,618		29,503		—		29,503
Total ancillary rental revenues		31,618		38,849		70,467		29,503		33,165		62,668
Total equipment rental revenues		568,505		39,176		607,681		520,052		33,415		553,467
Sales of rental equipment		—		83,052		83,052		—		71,768		71,768
Sales of new equipment		—		21,082		21,082		—		16,675		16,675
Parts, service and other		—		35,824		35,824		—		40,804		40,804
Total revenues	$	568,505	$	179,134	$	747,639	$	520,052	$	162,662	$	682,714

Schedule of Carrying Amount of Goodwill

The change to the carrying amount of goodwill for the year ended December 31, 2023 and the six months ended June 30, 2024 is as follows (amounts in thousands):


	Equipment Rentals			Sales of Rental Eq.		Parts Sales			Total
Balance at December 31, 2022 (1)	$	88,529		$	8,447	$	5,714		$	102,690
Increase (2)		29			—		—			29
Decrease (3)		—			—		(5,714	)		(5,714	)
Decrease (4)		(132	)		—		—			(132	)
Increase (5)		11,282			—		—			11,282
Balance at December 31, 2023 (1)		99,708			8,447		—			108,155
Increase (6)		17,536			—		—			17,536
Decrease (7)		(100	)		—		—			(100	)
Increase (8)		8,401			—		—			8,401
Increase (9)		651			—		—			651
Balance at June 30, 2024 (1)	$	126,196		$	8,447	$	—		$	134,643

(1)

(2)

Increase is related to the closing adjustments of the OSR Acquisition during the first quarter of 2023.

(3)

Decrease is related to the Parts Sales goodwill impairment calculated during the third quarter of 2023.

(4)

Decrease is related to the final closing adjustment of the OSR Acquisition during the third quarter of 2023.

(5)

Increase due to the Giffin Equipment (“Giffin”) Acquisition during the fourth quarter of 2023.

(6)

Increase due to the Precision Rentals (“Precision”) Acquisition during the first quarter of 2024.

(7)

Decrease is related to the purchase accounting adjustment of the Giffin Acquisition during the first quarter of 2024.

(8)

Increase due to Lewistown Rentals (“Lewistown”) Acquisition during the second quarter of 2024.

(9)

Increase is related to the final closing adjustment of the Precision Acquisition during the second quarter of 2024.

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Revenues	$ 376,282	$ 360,232	$ 747,639	$ 682,714
Cost of revenues:
Cost of revenues	205,002	191,871	411,494	372,975
Gross profit	171,280	168,361	336,145	309,739
Selling, general and administrative expenses	111,831	99,259	226,109	194,594
Gain on sales of property and equipment, net	3,352	436	4,785	1,103
Income from operations	62,801	69,538	114,821	116,248
Other income (expense):
Interest expense	(18,227)	(14,700)	(36,593)	(28,397)
Other, net	1,482	1,064	3,034	2,780
Total other expense, net	(16,745)	(13,636)	(33,559)	(25,617)
Income from operations before provision for income taxes	46,056	55,902	81,262	90,631
Provision for income taxes	12,795	14,686	22,112	23,741
Net income	$ 33,261	$ 41,216	$ 59,150	$ 66,890
Net income per common share:
Basic	$ 0.92	$ 1.14	$ 1.63	$ 1.86
Diluted	$ 0.91	$ 1.14	$ 1.62	$ 1.84
Weighted average common shares outstanding:
Basic	36,248	36,075	36,222	36,050
Diluted	36,470	36,302	36,517	36,327
Equipment Rentals [Member]
Revenues:
Revenues	$ 312,356	$ 291,459	$ 607,681	$ 553,467
Cost of revenues:
Cost of revenues	170,109	155,020	337,537	302,734
Equipment Rentals [Member] \| Rental Depreciation [Member]
Cost of revenues:
Cost of revenues	92,398	85,913	183,796	167,785
Equipment Rentals [Member] \| Rental Expense [Member]
Cost of revenues:
Cost of revenues	42,522	38,757	85,929	76,624
Equipment Rentals [Member] \| Rentals Other [Member]
Cost of revenues:
Cost of revenues	35,189	30,350	67,812	58,325
Sales of Rental Equipment [Member]
Revenues:
Revenues	34,937	39,653	83,052	71,768
Cost of revenues:
Cost of revenues	13,120	16,215	30,949	29,503
Sales of New Equipment [Member]
Revenues:
Revenues	10,670	8,857	21,082	16,675
Cost of revenues:
Cost of revenues	8,872	7,535	17,511	14,316
Parts, Service and Other [Member]
Revenues:
Revenues	18,319	20,263	35,824	40,804
Cost of revenues:
Cost of revenues	$ 12,901	$ 13,101	$ 25,497	$ 26,422

Fair Value of Financial Instruments - Estimated Incremental Borrowing Rates for Similar Types of Borrowing Arrangements (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Level 3 [Member] \| Carrying Amount [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable fair value	$ 2,642	$ 2,708
Level 3 [Member] \| Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable fair value	2,224	2,490
Level 2 [Member] \| Carrying Amount [Member] \| Senior Unsecured Notes Due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior Unsecured Notes due 2028 with interest computed at 3.875% (Level 2)	1,243,573	1,242,852
Level 2 [Member] \| Fair Value [Member] \| Senior Unsecured Notes Due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior Unsecured Notes due 2028 with interest computed at 3.875% (Level 2)	$ 1,128,213	$ 1,137,170

Senior Unsecured Notes

6 Months Ended

Jun. 30, 2024

Senior Unsecured Notes [Member]

Debt Instrument [Line Items]

Senior Secured Credit Facility

(9) Senior Unsecured Notes

On December 14, 2020, we completed the offering of our $1.25 billion, 3.875% Senior Unsecured Notes due 2028. For further information related to significant terms of the Senior Unsecured Notes, see Note 9 to the Company’s Consolidated Financial Statements included as Item 8 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. As of June 30, 2024, we were in compliance with the covenants governing our notes.

The following table reconciles our Senior Unsecured Notes to our condensed consolidated balance sheets (amounts in thousands):


Balance at December 31, 2022	$	1,241,409
Accretion of discount through December 31, 2023		1,172
Amortization of deferred financing costs through December 31, 2023		271
Balance at December 31, 2023	$	1,242,852
Accretion of discount through June 30, 2024		586
Amortization of deferred financing costs through June 30, 2024		135
Balance at June 30, 2024	$	1,243,573

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482949/835-30-55-8

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

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, H&E Equipment Services (Midwest), Inc. and H&E Equipment Services (Mid-Atlantic), Inc., collectively referred to herein as “we”, “us”, “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 and six months ended June 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024, 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, 2023, from which the consolidated balance sheet amounts as of December 31, 2023 were derived. All significant intercompany accounts and transactions have been eliminated in these condensed consolidated financial statements.

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

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.

Reclassifications

Certain reclassifications have been made to prior period amounts in the condensed consolidated statements of income to conform to the current period presentation. These reclassifications did not have a material impact on previously reported amounts.

Revenue Recognition

We recognize revenue in accordance with two different Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) standards: 1) Topic 606 and 2) Topic 842.

Under Topic 606, Revenue from Contracts with Customers, revenue is recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Revenue 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. 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.

Under Topic 842, Leases, we account for equipment 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.


	Three Months Ended June 30,
	2024						2023
	Topic 842		Topic 606		Total		Topic 842		Topic 606		Total
Revenues:
Rental revenues
Owned equipment rentals	$	267,162	$	205	$	267,367	$	250,718	$	113	$	250,831
Re-rent revenue		8,106		—		8,106		7,892		—		7,892
Ancillary and other rental revenues:
Delivery and pick-up		—		20,242		20,242		—		17,674		17,674
Other		16,641		—		16,641		15,062		—		15,062
Total ancillary rental revenues		16,641		20,242		36,883		15,062		17,674		32,736
Total equipment rental revenues		291,909		20,447		312,356		273,672		17,787		291,459
Sales of rental equipment		—		34,937		34,937		—		39,653		39,653
Sales of new equipment		—		10,670		10,670		—		8,857		8,857
Parts, service and other		—		18,319		18,319		—		20,263		20,263
Total revenues	$	291,909	$	84,373	$	376,282	$	273,672	$	86,560	$	360,232


	Six Months Ended June 30,
	2024						2023
	Topic 842		Topic 606		Total		Topic 842		Topic 606		Total
Revenues:
Rental revenues
Owned equipment rentals	$	520,460	$	327	$	520,787	$	474,298	$	250	$	474,548
Re-rent revenue		16,427		—		16,427		16,251		—		16,251
Ancillary and other rental revenues:
Delivery and pick-up		—		38,849		38,849		—		33,165		33,165
Other		31,618		—		31,618		29,503		—		29,503
Total ancillary rental revenues		31,618		38,849		70,467		29,503		33,165		62,668
Total equipment rental revenues		568,505		39,176		607,681		520,052		33,415		553,467
Sales of rental equipment		—		83,052		83,052		—		71,768		71,768
Sales of new equipment		—		21,082		21,082		—		16,675		16,675
Parts, service and other		—		35,824		35,824		—		40,804		40,804
Total revenues	$	568,505	$	179,134	$	747,639	$	520,052	$	162,662	$	682,714

Revenues by reporting segment are presented in Note 11 of our condensed consolidated financial statements. 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. For further information related to our accounting for revenues pursuant to Topic 606 and Topic 842, see Significant Accounting Policies in Note 2 to our Annual Report on Form 10-K for the year ended December 31, 2023.

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 total revenues 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.

Pursuant to Topic 842 and Topic 326 for rental and non-rental receivables, respectively, we maintain an allowance for doubtful accounts that reflects our estimate of our expected credit losses. Our allowance is estimated using a loss rate model based on delinquency. The estimated loss rate is based on our historical experience with specific customers, our understanding of our current economic circumstances, reasonable and supportable forecasts, and our own judgment as to the likelihood of ultimate payment based upon available data. Our largest exposure to doubtful accounts is our rental operations, which as discussed above is accounted for under Topic 842. For the six months ended June 30, 2024, revenue under ASC 842 represents 76% of our total revenues and an approximate corresponding percentage of our receivables, net and associated allowance for doubtful accounts. 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. 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. Bad debt expense as a percentage of total revenues for the six months ended June 30, 2024 and 2023 was approximately 0.4% and 0.3%, respectively.

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 and six months ended June 30, 2024 and 2023 that were included in the contract liability balance as of the beginning of such periods.

Goodwill

Goodwill is recorded as the excess of the consideration transferred plus the fair value of any non-controlling interest in the acquiree at the acquisition date over the fair values of the identifiable net assets acquired. The change to the carrying amount of goodwill for the year ended December 31, 2023 and the six months ended June 30, 2024 is as follows (amounts in thousands):


	Equipment Rentals			Sales of Rental Eq.		Parts Sales			Total
Balance at December 31, 2022 (1)	$	88,529		$	8,447	$	5,714		$	102,690
Increase (2)		29			—		—			29
Decrease (3)		—			—		(5,714	)		(5,714	)
Decrease (4)		(132	)		—		—			(132	)
Increase (5)		11,282			—		—			11,282
Balance at December 31, 2023 (1)		99,708			8,447		—			108,155
Increase (6)		17,536			—		—			17,536
Decrease (7)		(100	)		—		—			(100	)
Increase (8)		8,401			—		—			8,401
Increase (9)		651			—		—			651
Balance at June 30, 2024 (1)	$	126,196		$	8,447	$	—		$	134,643

(1)

(2)

Increase is related to the closing adjustments of the OSR Acquisition during the first quarter of 2023.

(3)

Decrease is related to the Parts Sales goodwill impairment calculated during the third quarter of 2023.

(4)

Decrease is related to the final closing adjustment of the OSR Acquisition during the third quarter of 2023.

(5)

Increase due to the Giffin Equipment (“Giffin”) Acquisition during the fourth quarter of 2023.

(6)

Increase due to the Precision Rentals (“Precision”) Acquisition during the first quarter of 2024.

(7)

Decrease is related to the purchase accounting adjustment of the Giffin Acquisition during the first quarter of 2024.

(8)

Increase due to Lewistown Rentals (“Lewistown”) Acquisition during the second quarter of 2024.

(9)

Increase is related to the final closing adjustment of the Precision Acquisition during the second quarter of 2024.

Rental Equipment

The rental equipment we purchase is recorded in rental equipment on the condensed consolidated balance sheets and is stated at cost. Due to the Company’s shift to operate as a pure-play rental company, as of the quarter ended June 30, 2024 purchases of equipment are now disaggregated between inventory and rental equipment according to classification at the time of purchase as opposed to considering all generally available for sale. Purchases of equipment designated for fleet are now recorded as rental equipment while equipment designated for sale is recorded as inventory. Rental equipment is depreciated over the estimated useful life of the equipment upon placed in service using the straight-line method and is included in rental depreciation within our condensed consolidated statements of income. Estimated useful lives vary based upon type of equipment. Generally, we depreciate aerial work platforms over a ten year estimated useful life, earthmoving equipment over a five year estimated useful life with a 25% salvage value, and material handling equipment over a seven year estimated useful life. Attachments and other smaller type equipment are depreciated generally over a three year estimated useful life. We periodically evaluate the appropriateness of remaining depreciable lives and any salvage value assigned to rental equipment. Depreciation expense on rental equipment is reflected in rental depreciation in cost of revenues on the condensed consolidated statements of income.

Ordinary repair and maintenance costs and property taxes are reflected in rental expenses in cost of revenues on the condensed consolidated statements of income. However, expenditures for additions or improvements that significantly extend the useful life of the asset are capitalized in the period incurred. When rental equipment is sold or disposed of, the related cost and accumulated depreciation are removed from the respective accounts and any gains or losses are included in gross profit in the condensed consolidated statements of income. We receive individual offers for fleet on a continual basis, at which time we perform an analysis on whether or not to accept the offer. The rental equipment is not transferred to inventory under the held for sale model as the equipment is used to generate revenues until the equipment is sold.

Recent Accounting Pronouncements

Pronouncements Not Yet Adopted

Segment Reporting

In November 2023, the FASB issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves the disclosures about a public entity’s reportable segments and addresses requests for additional, more detailed information about a reportable segment’s expenses. The amendments in this ASU require disclosure of incremental segment information on an annual and interim basis for all public entities. The amendments are effective for our Annual Report on Form 10-K for fiscal years beginning after December 15, 2023, and for the interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. ASU 2023-07 became effective on January 1, 2024 and is not expected to have an impact on our financial statements, but will result in expanded reportable segment disclosures.

Income Taxes

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which should improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The ASU requires that public entities on an annual basis disclose specific categories in the rate reconciliation, provide additional information for reconciling items that meet a quantitative threshold and the following information about income taxes paid: the amount of income taxes paid disaggregated by federal (national), state, and foreign taxes and the amount of income taxes paid disaggregated by individual jurisdictions. Lastly, the amendments in this ASU require that entities disclose income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign and income tax expense (or benefit) from continuing operations disaggregated by federal (national), state, and foreign. ASU 2023-09 becomes effective January 1, 2025 and is not expected to have an impact on our financial statements, but will result in expanded tax disclosures.

Significant Accounting Policies - Schedule of Carrying Amount of Goodwill (Parenthetical) (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Goodwill, net of accumulated impairment charges	$ 98.4	$ 98.4	$ 92.7

Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Information about Reportable Segments

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


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Segment Revenues:
Equipment rentals	$	312,356	$	291,459	$	607,681	$	553,467
Sales of rental equipment		34,937		39,653		83,052		71,768
Sales of new equipment		10,670		8,857		21,082		16,675
Parts, service and other		18,319		20,263		35,824		40,804
Total revenues	$	376,282	$	360,232	$	747,639	$	682,714
Segment Gross Profit:
Equipment rentals	$	142,247	$	136,439	$	270,144	$	250,733
Sales of rental equipment		21,817		23,438		52,103		42,265
Sales of new equipment		1,798		1,322		3,571		2,359
Parts, service and other		5,418		7,162		10,327		14,382
Total gross profit	$	171,280	$	168,361	$	336,145	$	309,739


	Balances at
	June 30,		December 31,
	2024		2023
Segment identified assets:
Equipment rentals	$	1,910,777	$	1,756,578
Equipment sales		8,904		98,045
Parts, service and other		931,136		785,263
Total assets	$	2,850,817	$	2,639,886

Income per Share - Additional Information (Detail)	3 Months Ended		6 Months Ended
Income per Share - Additional Information (Detail)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Restricted common shares, percentage	1.00%	1.00%	1.00%	1.00%

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($)

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Dec. 31, 2023

Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]

Transfer of financial assets

$ 0

Transfer of financial liabilities

$ 0

Impairment of goodwill

^[1]

$ 100,000

Parts Sales [Member]

Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]

Impairment of goodwill

^[2]

$ 5,714,000

Fair Value [Member] | Level 1 [Member] | Senior Unsecured Notes Due 2028 [Member]

Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]

Senior unsecured notes, due year

2028

[1]	Decrease is related to the purchase accounting adjustment of the Giffin Acquisition during the first quarter of 2024.
[2]	Decrease is related to the Parts Sales goodwill impairment calculated during the third quarter of 2023.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Organization and Nature of Operations - Additional Information (Detail)	Jun. 30, 2024 Branch
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of branch locations	149

Segment Information - Additional Information (Detail)	3 Months Ended		6 Months Ended		12 Months Ended
Segment Information - Additional Information (Detail)	Jun. 30, 2024 Customer	Jun. 30, 2023 Customer	Jun. 30, 2024 Segment Customer	Jun. 30, 2023 Customer	Dec. 31, 2023 Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Number of reportable segment			4		5
Sales to international customers	0.10%	0.10%	0.10%	0.10%
Customer accounted for more than 10% of revenue \| Customer	0	0	0	0
Parts Sales and Service Revenues [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Number of reportable segment			1

Significant Accounting Policies - Schedule of Carrying Amount of Goodwill (Detail) - USD ($)
$ in Thousands

6 Months Ended

12 Months Ended

Jun. 30, 2024

Dec. 31, 2023

Goodwill [Line Items]

Balance

^[1]

$ 108,155

$ 102,690

Increase

17,536

^[2]

^[3]

Decrease

^[4]

(100)

Balance

^[1]

134,643

108,155

Giffin Equipment [Member]

Goodwill [Line Items]

Increase

^[5]

11,282

Lewistown Rentals [Member]

Goodwill [Line Items]

Increase

^[6]

8,401

Precision Rentals [Member]

Goodwill [Line Items]

Increase

^[7]

651

Equipment Rentals [Member]

Goodwill [Line Items]

Balance

^[1]

99,708

88,529

Increase

17,536

^[2]

^[3]

Decrease

(100)

^[4]

(132)

^[8]

Balance

^[1]

126,196

99,708

Equipment Rentals [Member] | Giffin Equipment [Member]

Goodwill [Line Items]

Increase

^[5]

11,282

Equipment Rentals [Member] | Lewistown Rentals [Member]

Goodwill [Line Items]

Increase

^[6]

8,401

Equipment Rentals [Member] | Precision Rentals [Member]

Goodwill [Line Items]

Increase

^[7]

651

Sales of Rental Equipment [Member]

Goodwill [Line Items]

Balance

^[1]

8,447

Balance

^[1]

$ 8,447

8,447

Parts Sales [Member]

Goodwill [Line Items]

Balance

^[1]

5,714

Decrease

^[9]

$ (5,714)

[1]	The total carrying amount of goodwill as of December 31, 2022 in the table above is reflected net of $92.7 million of accumulated impairment charges. The total carrying amount of goodwill as of December 31, 2023 and June 30, 2024 in the table above is reflected net of $98.4 million of accumulated impairment charges.
[2]	Increase due to the Precision Rentals (“Precision”) Acquisition during the first quarter of 2024.
[3]	Increase is related to the closing adjustments of the OSR Acquisition during the first quarter of 2023.
[4]	Decrease is related to the purchase accounting adjustment of the Giffin Acquisition during the first quarter of 2024.
[5]	Increase due to the Giffin Equipment (“Giffin”) Acquisition during the fourth quarter of 2023.
[6]	Increase due to Lewistown Rentals (“Lewistown”) Acquisition during the second quarter of 2024.
[7]	Increase is related to the final closing adjustment of the Precision Acquisition during the second quarter of 2024.
[8]	Decrease is related to the final closing adjustment of the OSR Acquisition during the third quarter of 2023.
[9]	Decrease is related to the Parts Sales goodwill impairment calculated during the third quarter of 2023.

Acquisitions and Dispositions - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) - USD ($) $ in Thousands	May 01, 2024	Jan. 01, 2024	Nov. 01, 2023	Oct. 01, 2022
Lewistown Rentals [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)	$ 3,800
Life (years)	10 years
Precision Rentals [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)		$ 37,200
Precision Rentals [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)		$ 33,700
Life (years)		10 years
Precision Rentals [Member] \| Noncompetition Agreements [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)		$ 3,500
Life (years)		5 years
Giffin Equipment [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)			$ 6,500
Giffin Equipment [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)			$ 3,900
Life (years)			10 years
Giffin Equipment [Member] \| Noncompetition Agreements [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)			$ 2,600
Life (years)			5 years
One Source Equipment Rentals, Inc [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)				$ 12,300
One Source Equipment Rentals, Inc [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)				$ 10,600
Life (years)				10 years
One Source Equipment Rentals, Inc [Member] \| Noncompetition Agreements [Member]
Business Acquisition [Line Items]
Fair Value (amounts in thousands)				$ 1,700
Life (years)				1 year

Significant Accounting Policies - Summary of Revenues by Type and by Applicable Accounting Standard (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Revenues	$ 376,282	$ 360,232	$ 747,639	$ 682,714
Topic 842 [Member]
Revenues:
Revenues	291,909	273,672	568,505	520,052
Topic 606 [Member]
Revenues:
Revenues	84,373	86,560	179,134	162,662
Rental Revenues [Member] \| Owned Equipment Rentals [Member]
Revenues:
Revenues	267,367	250,831	520,787	474,548
Rental Revenues [Member] \| Owned Equipment Rentals [Member] \| Topic 842 [Member]
Revenues:
Revenues	267,162	250,718	520,460	474,298
Rental Revenues [Member] \| Owned Equipment Rentals [Member] \| Topic 606 [Member]
Revenues:
Revenues	205	113	327	250
Rental Revenues [Member] \| Re Rent Revenues [Member]
Revenues:
Revenues	8,106	7,892	16,427	16,251
Rental Revenues [Member] \| Re Rent Revenues [Member] \| Topic 842 [Member]
Revenues:
Revenues	8,106	7,892	16,427	16,251
Ancillary And Other Rental Revenues [Member]
Revenues:
Revenues	36,883	32,736	70,467	62,668
Ancillary And Other Rental Revenues [Member] \| Topic 842 [Member]
Revenues:
Revenues	16,641	15,062	31,618	29,503
Ancillary And Other Rental Revenues [Member] \| Topic 606 [Member]
Revenues:
Revenues	20,242	17,674	38,849	33,165
Ancillary And Other Rental Revenues [Member] \| Delivery and Pick-up [Member]
Revenues:
Revenues	20,242	17,674	38,849	33,165
Ancillary And Other Rental Revenues [Member] \| Delivery and Pick-up [Member] \| Topic 606 [Member]
Revenues:
Revenues	20,242	17,674	38,849	33,165
Ancillary And Other Rental Revenues [Member] \| Other [Member]
Revenues:
Revenues	16,641	15,062	31,618	29,503
Ancillary And Other Rental Revenues [Member] \| Other [Member] \| Topic 842 [Member]
Revenues:
Revenues	16,641	15,062	31,618	29,503
Total Equipment Rental Revenues [Member]
Revenues:
Revenues	312,356	291,459	607,681	553,467
Total Equipment Rental Revenues [Member] \| Topic 842 [Member]
Revenues:
Revenues	291,909	273,672	568,505	520,052
Total Equipment Rental Revenues [Member] \| Topic 606 [Member]
Revenues:
Revenues	20,447	17,787	39,176	33,415
Sales of Rental Equipment [Member]
Revenues:
Revenues	34,937	39,653	83,052	71,768
Sales of Rental Equipment [Member] \| Topic 606 [Member]
Revenues:
Revenues	34,937	39,653	83,052	71,768
Sales of New Equipment [Member]
Revenues:
Revenues	10,670	8,857	21,082	16,675
Sales of New Equipment [Member] \| Topic 606 [Member]
Revenues:
Revenues	10,670	8,857	21,082	16,675
Parts, Service and Other [Member]
Revenues:
Revenues	18,319	20,263	35,824	40,804
Parts, Service and Other [Member] \| Topic 606 [Member]
Revenues:
Revenues	$ 18,319	$ 20,263	$ 35,824	$ 40,804

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Non-Vested Stock Activity

The following table summarizes our non-vested stock activity for the six months ended June 30, 2024:


	Number of Shares			Weighted Average Grant Date Fair Value
Non-vested stock at December 31, 2023		497,396		$	40.73
Granted		73,063		$	38.33
Vested		(139,584	)	$	36.28
Forfeited		(7,790	)	$	42.71
Non-vested stock at June 30, 2024		423,085		$	41.74

Schedule of Compensation Expense Related to Non-Vested Stock

The following table summarizes compensation


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Compensation expense	$	2,202	$	2,039	$	5,990	$	5,029

Senior Unsecured Notes (Tables)

6 Months Ended

Jun. 30, 2024

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, 2022	$	1,241,409
Accretion of discount through December 31, 2023		1,172
Amortization of deferred financing costs through December 31, 2023		271
Balance at December 31, 2023	$	1,242,852
Accretion of discount through June 30, 2024		586
Amortization of deferred financing costs through June 30, 2024		135
Balance at June 30, 2024	$	1,243,573

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Organization and Nature of Operations

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Nature of Operations

(1) Organization and Nature of Operations

Basis of Presentation

Nature of Operations

Founded in 1961, H&E Equipment Services, Inc. is one of the largest rental equipment companies in the nation, serving customers at our 149 branch locations across 31 states. The Company’s fleet is comprised of aerial work platforms, earthmoving, material handling, and other general and specialty lines. H&E serves a diverse set of end markets in many high-growth geographies including branches throughout the Pacific Northwest, West Coast, Intermountain, Southwest, Gulf Coast, Southeast, Midwest and Mid-Atlantic regions.

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivables	$ 7,831	$ 7,126
Reserves for obsolescence inventories	129	207
Accumulated depreciation, rental equipment	1,022,455	990,971
Accumulated depreciation and amortization, property and equipment	201,630	193,723
Accumulated amortization, operating lease right-of-use assets	82,250	71,021
Accumulated amortization, financing lease right-of-use assets	535	345
Accumulated amortization, deferred financing costs	18,170	17,606
Accumulated amortization, intangible assets	30,894	25,824
Unaccreted discount, net	5,221	5,807
Deferred financing costs	$ 1,206	$ 1,341
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	40,955,169	40,823,375
Common stock, shares outstanding	36,523,320	36,449,188
Treasury stock, shares	4,431,849	4,374,187

Acquisitions and Dispositions (Tables)

6 Months Ended

Jun. 30, 2024

Lewistown Rentals [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. The opening balance sheet amounts presented below are preliminary and subject to change as we obtain additional information during the acquisition measurement period regarding each asset acquired and liability assumed and finalize customary closing adjustments with the seller.


	$’s in thousands
Accounts receivable	$	1,026
Prepaid expenses and other assets		1
Rental equipment		18,987
Property and equipment		1,559
Customer relationships intangible asset (1)		3,800
Total identifiable assets acquired		25,373
Accounts payable		(71	)
Accrued expenses payable and other liabilities		(28	)
Total liabilities assumed		(99	)
Net identifiable assets acquired		25,274
Goodwill (2)		8,401
Net assets acquired	$	33,675

(1)

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


	Fair Value (amounts in thousands)		Life (years)
Customer relationships	$	3,800		10

(2)

The acquired goodwill has been allocated to the equipment rentals reporting unit.

Precision Rentals [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
Accounts receivable	$	4,120
Prepaid expenses and other assets		26
Rental equipment		63,215
Property and equipment		2,122
Operating lease right-of-use assets		68
Customer relationships intangible asset (1)		33,700
Total identifiable assets acquired		103,251
Accounts payable		(57	)
Accrued expenses payable and other liabilities		(832	)
Operating lease liabilities		(68	)
Total liabilities assumed		(957	)
Net identifiable assets acquired		102,294
Goodwill (2)		18,187
Net assets acquired		120,481
Noncompetition agreement intangible asset (1)(3)		3,500
Total cumulative consideration	$	123,981

(1)

The following table reflects the fair values and useful lives of the acquired intangible assets:


	Fair Value (amounts in thousands)		Life (years)
Customer relationships	$	33,700		10
Noncompetition agreements		3,500		5
	$	37,200

(2)

The acquired goodwill has been allocated to the equipment rentals reporting unit.

(3)

The fair value of the noncompetition agreements is considered to be a separate transaction under ASC 805 and as such, has been excluded from the purchase price.

Giffin Equipment [Member]

Business Acquisition [Line Items]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed


	$’s in thousands
Accounts receivable	$	870
Prepaid expenses and other assets		10
Rental equipment		12,291
Property and equipment		431
Operating lease right-of-use assets		121
Intangible assets (1)		6,500
Total identifiable assets acquired		20,223
Accrued expenses payable and other liabilities		(19	)
Operating lease liabilities		(121	)
Total liabilities assumed		(140	)
Net identifiable assets acquired		20,083
Goodwill (2)		11,182
Net assets acquired	$	31,265

(1)

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


	Fair Value (amounts in thousands)		Life (years)
Customer relationships	$	3,900		10
Noncompetition agreements		2,600		5
	$	6,500

(2)

The acquired goodwill has been allocated to the equipment rentals reporting unit.

One Source Equipment Rentals, 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	$	337
Accounts receivable		10,406
Inventory		332
Prepaid expenses and other assets		374
Rental equipment		102,436
Property and equipment		4,216
Operating lease right-of-use assets		2,388
Intangible assets (1)		12,300
Total identifiable assets acquired		132,789
Accounts payable		(4,723	)
Tax payable		(786	)
Operating lease liabilities		(2,388	)
Deferred income taxes		(27,653	)
Total liabilities assumed		(35,550	)
Net identifiable assets acquired		97,239
Goodwill (2)		39,451
Net assets acquired	$	136,690

(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	$	10,600		10
Noncompetition agreements		1,700		1
	$	12,300

(2)

The acquired goodwill has been allocated to the equipment rentals reporting unit.

Giffin Equipment, Precision Rentals And Lewistown Rentals [Member]

Business Acquisition [Line Items]

Unaudited Pro Forma Financial Information


	Pro Forma (unaudited)
	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Total revenues	$	377,009	$	373,444	$	750,546	$	708,931
Net income	$	33,199	$	40,623	$	58,903	$	65,664

Leases

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

(10) Leases

At June 30, 2024, the weighted average remaining lease term for operating leases was approximately 7.4 years and for finance leases was approximately 8.5 years. The weighted average discount rate for operating leases and finance leases was approximately 6.4% and 6.0%, respectively at June 30, 2024.

The future minimum lease payments of operating leases executed but not commenced as of June 30, 2024 are estimated to be $0.9 million, $3.7 million, $4.4 million, $4.5 million and $4.7 million for the years ended December 31, 2024, 2025, 2026, 2027 and 2028, respectively, and $33.0 million thereafter. It is expected that these leases will commence during 2024 and 2025.

Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands

Jun. 30, 2024

Dec. 31, 2023

ASSETS

Cash

$ 8,609

$ 8,500

Receivables, net of allowance for doubtful accounts of $ and $7,126, respectively

248,108

247,430

Inventories, net of reserves for obsolescence of $ and $207, respectively

21,891

109,931

Prepaid expenses and other assets

18,041

8,740

Rental equipment, net of accumulated depreciation of $ and $990,971, respectively

1,910,777

1,756,578

Property and equipment, net of accumulated depreciation and amortization of $ and $193,723, respectively

240,835

183,773

Operating lease right-of-use assets, net of accumulated amortization of $ and $71,021, respectively

191,585

176,703

Finance lease right-of-use assets, net of accumulated amortization of $ and $345, respectively

3,677

2,891

Deferred financing costs, net of accumulated amortization of $ and $17,606, respectively

4,045

4,609

Intangible assets, net of accumulated amortization of $ and $25,824, respectively

68,606

32,576

Goodwill

^[1]

134,643

108,155

Total assets

2,850,817

2,639,886

Liabilities:

Senior secured credit facility

287,295

181,642

Accounts payable

113,029

85,486

Manufacturer flooring plans payable

2,642

2,708

Accrued expenses payable and other liabilities

83,297

87,929

Dividends payable

280

360

Senior unsecured notes, net of unaccreted discount of $ and $5,807 and deferred financing costs of $ and $1,341, respectively

1,243,573

1,242,852

Operating lease liabilities

207,549

183,775

Finance lease liabilities

3,862

3,019

Deferred income taxes

333,241

317,826

Total liabilities

2,274,768

2,105,597

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; and 40,823,375 shares issued at June 30, 2024 and December 31, 2023, respectively, and 36,449,188 shares outstanding at June 30, 2024 and December 31, 2023, respectively

410

408

Additional paid-in capital

267,917

261,927

Treasury stock at cost, and 4,374,187 shares of common stock held at June 30, 2024 and December 31, 2023, respectively

(79,407)

(76,017)

Retained earnings

387,129

347,971

Total stockholders’ equity

576,049

534,289

Total liabilities and stockholders’ equity

$ 2,850,817

$ 2,639,886

[1]

Segment Information - Schedule of Information about Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Segment Revenues:
Revenues	$ 376,282	$ 360,232	$ 747,639	$ 682,714
Segment Gross Profit (Loss):
Total gross profit	171,280	168,361	336,145	309,739
Segment identified assets:
Total assets	2,850,817		2,850,817		$ 2,639,886
Equipment Rentals [Member]
Segment Revenues:
Revenues	312,356	291,459	607,681	553,467
Sales of Rental Equipment [Member]
Segment Revenues:
Revenues	34,937	39,653	83,052	71,768
Sales of New Equipment [Member]
Segment Revenues:
Revenues	10,670	8,857	21,082	16,675
Parts, Service and Other [Member]
Segment Revenues:
Revenues	18,319	20,263	35,824	40,804
Operating Segments [Member]
Segment Revenues:
Revenues	376,282	360,232	747,639	682,714
Segment Gross Profit (Loss):
Total gross profit	171,280	168,361	336,145	309,739
Segment identified assets:
Total assets	2,850,817		2,850,817		2,639,886
Operating Segments [Member] \| Equipment Rentals [Member]
Segment Revenues:
Revenues	312,356	291,459	607,681	553,467
Segment Gross Profit (Loss):
Total gross profit	142,247	136,439	270,144	250,733
Segment identified assets:
Total assets	1,910,777		1,910,777		1,756,578
Operating Segments [Member] \| Sales of Rental Equipment [Member]
Segment Revenues:
Revenues	34,937	39,653	83,052	71,768
Segment Gross Profit (Loss):
Total gross profit	21,817	23,438	52,103	42,265
Operating Segments [Member] \| Sales of New Equipment [Member]
Segment Revenues:
Revenues	10,670	8,857	21,082	16,675
Segment Gross Profit (Loss):
Total gross profit	1,798	1,322	3,571	2,359
Operating Segments [Member] \| Equipment Sales [Member]
Segment identified assets:
Total assets	8,904		8,904		98,045
Operating Segments [Member] \| Parts, Service and Other [Member]
Segment Revenues:
Revenues	18,319	20,263	35,824	40,804
Segment Gross Profit (Loss):
Total gross profit	5,418	$ 7,162	10,327	$ 14,382
Segment identified assets:
Total assets	$ 931,136		$ 931,136		$ 785,263

Senior Unsecured Notes - Additional Information (Detail) - 3.875% Senior Notes [Member] $ in Millions	Dec. 14, 2020 USD ($)
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,250
Senior unsecured notes, interest rate	3.875%
Senior unsecured notes, maturity year	2028

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Income per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Income per Share

(7) Income per Share

Income per common share for the three and six months ended June 30, 2024 and 2023 is 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 less than 1% of total outstanding shares for the three and six months ended June 30, 2024 and 2023 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 and six months ended June 30, 2024 and 2023 (amounts in thousands, except per share amounts):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Net income	$	33,261	$	41,216	$	59,150	$	66,890

Weighted average number of common shares outstanding:
Basic		36,248		36,075		36,222		36,050
Effect of dilutive non-vested restricted stock		222		227		295		277
Diluted		36,470		36,302		36,517		36,327

Income per share:
Basic net income per share	$	0.92	$	1.14	$	1.63	$	1.86
Diluted net income per share	$	0.91	$	1.14	$	1.62	$	1.84

Common shares excluded from the denominator as anti-dilutive:
Non-vested restricted stock		—		—		—		—

Dividends declared per common share outstanding	$	0.275	$	0.275	$	0.55	$	0.55

Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2024

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, Senior Secured Credit Facility (the “Credit Facility”), accounts payable and accrued expenses payable and other liabilities approximate fair value due to the immediate or short-term nature, maturity or market interest rate of these financial instruments. The Company’s outstanding obligations on its Credit Facility are deemed to be at fair value as the interest rates are variable and consistent with prevailing rates, which are considered Level 2 inputs. The carrying amounts and fair values of our other financial instruments subject to fair value disclosures as of June 30, 2024 and December 31, 2023 are presented in the table below (amounts in thousands).


	June 30, 2024
	Carrying Amount		Fair Value
Manufacturer flooring plans payable with interest computed at 9.00% (Level 3)	$	2,642	$	2,224
Senior Unsecured Notes due 2028 with interest computed at 3.875% (Level 2)		1,243,573		1,128,213


	December 31, 2023
	Carrying Amount		Fair Value
Manufacturer flooring plans payable with interest computed at 8.75% (Level 3)	$	2,708	$	2,490
Senior Unsecured Notes due 2028 with interest computed at 3.875% (Level 2)		1,242,852		1,137,170

At June 30, 2024 and December 31, 2023, the fair value of our senior unsecured notes due 2028 (the “Senior Unsecured Notes”) was based on quoted bond trading market prices for those notes. For our Level 3 unobservable inputs, we calculate a discount rate for our manufacturing floor plans payable based on the U.S. prime rate plus the applicable margin on our Credit Facility. The discount rate is disclosed in the above table. The assets collateralized against the manufacturer flooring plans payable approximate its carrying value.

During the three and six months ended June 30, 2024 and 2023, there were no transfers of financial assets or liabilities in or out of 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Summary of Activity in Stockholders' Equity

The following table summarizes the activity in Stockholders’ Equity for the three and six months ended June 30, 2024 and 2023, respectively (amounts in thousands, except share and per share data):


	Common Stock					Additional								Total
	Shares Issued			Amount		Paid-in Capital		Treasury Stock			Retained Earnings			Stockholders’ Equity
Balances at December 31, 2023		40,823,375		$	408	$	261,927	$	(76,017	)	$	347,971		$	534,289
Stock-based compensation		—			—		3,788		—			—			3,788
Cash dividends declared on common stock ($0.275 per share)		—			—		—		—			(9,900	)		(9,900	)
Issuance of common stock, net of forfeitures		137,436			2		—		—			—			2
Repurchase of 57,662 shares of restricted common stock		—			—		—		(3,390	)		—			(3,390	)
Net income		—			—		—		—			25,889			25,889
Balances at March 31, 2024		40,960,811			410		265,715		(79,407	)		363,960			550,678
Stock-based compensation		—			—		2,202		—			—			2,202
Cash dividends declared on common stock ($0.275 per share)		—			—		—		—			(10,092	)		(10,092	)
Restricted stock forfeitures		(5,642	)		—		—		—			—			—
Net income		—			—		—		—			33,261			33,261
Balances at June 30, 2024		40,955,169		$	410	$	267,917	$	(79,407	)	$	387,129		$	576,049

Balances at December 31, 2022		40,567,876		$	405	$	251,901	$	(69,964	)	$	218,700		$	401,042
Stock-based compensation		—			—		2,990		—			—			2,990
Cash dividends declared on common stock ($0.275 per share)		—			—		—		—			(9,794	)		(9,794	)
Issuance of common stock, net of forfeitures		132,501			1		—		—			—			1
Repurchase of 58,211 shares of restricted common stock		—			—		—		(3,226	)		—			(3,226	)
Net income		—			—		—		—			25,674			25,674
Balances at March 31, 2023		40,700,377			406		254,891		(73,190	)		234,580			416,687
Stock-based compensation		—			—		2,039		—			—			2,039
Cash dividends declared on common stock ($0.275 per share)		—			—		—		—			(10,046	)		(10,046	)
Restricted stock forfeitures		(5,323	)		—		—		—			—			—
Net income		—			—		—		—			41,216			41,216
Balances at June 30, 2023		40,695,054		$	406	$	256,930	$	(73,190	)	$	265,750		$	449,896

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				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Line Items]
Net income	$ 33,261	$ 25,889	$ 41,216	$ 25,674	$ 59,150	$ 66,890
Weighted average number of common shares outstanding:
Basic	36,248		36,075		36,222	36,050
Diluted	36,470		36,302		36,517	36,327
Income per share:
Basic net income per share	$ 0.92		$ 1.14		$ 1.63	$ 1.86
Diluted net income per share	0.91		1.14		1.62	1.84
Common shares excluded from the denominator as anti-dilutive:
Dividends declared per common share outstanding	$ 0.275		$ 0.275		$ 0.55	$ 0.55
Non-vested restricted stock [Member]
Weighted average number of common shares outstanding:
Effect of dilutive non-vested restricted stock	222		227		295	277

Senior Unsecured Notes - Reconciliation of Senior Unsecured Notes to Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Senior unsecured notes, beginning balance	$ 1,242,852
Amortization of deferred financing costs	699	$ 660
Senior unsecured notes, ending balance	1,243,573		$ 1,242,852
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Senior unsecured notes, beginning balance	1,242,852	$ 1,241,409	1,241,409
Senior unsecured notes, ending balance	1,243,573		1,242,852
Senior Unsecured Notes [Member] \| 3.875% Senior Notes [Member]
Debt Instrument [Line Items]
Accretion of discount	586		1,172
Amortization of deferred financing costs	$ 135		$ 271

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Significant Accounting Policies

6 Months Ended

Jun. 30, 2024

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, 2023. During the three and six months ended June 30, 2024, there were no significant changes to those accounting policies.

Use of Estimates

Reclassifications

Revenue Recognition

We recognize revenue in accordance with two different Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) standards: 1) Topic 606 and 2) Topic 842.


	Three Months Ended June 30,
	2024						2023
	Topic 842		Topic 606		Total		Topic 842		Topic 606		Total
Revenues:
Rental revenues
Owned equipment rentals	$	267,162	$	205	$	267,367	$	250,718	$	113	$	250,831
Re-rent revenue		8,106		—		8,106		7,892		—		7,892
Ancillary and other rental revenues:
Delivery and pick-up		—		20,242		20,242		—		17,674		17,674
Other		16,641		—		16,641		15,062		—		15,062
Total ancillary rental revenues		16,641		20,242		36,883		15,062		17,674		32,736
Total equipment rental revenues		291,909		20,447		312,356		273,672		17,787		291,459
Sales of rental equipment		—		34,937		34,937		—		39,653		39,653
Sales of new equipment		—		10,670		10,670		—		8,857		8,857
Parts, service and other		—		18,319		18,319		—		20,263		20,263
Total revenues	$	291,909	$	84,373	$	376,282	$	273,672	$	86,560	$	360,232


	Six Months Ended June 30,
	2024						2023
	Topic 842		Topic 606		Total		Topic 842		Topic 606		Total
Revenues:
Rental revenues
Owned equipment rentals	$	520,460	$	327	$	520,787	$	474,298	$	250	$	474,548
Re-rent revenue		16,427		—		16,427		16,251		—		16,251
Ancillary and other rental revenues:
Delivery and pick-up		—		38,849		38,849		—		33,165		33,165
Other		31,618		—		31,618		29,503		—		29,503
Total ancillary rental revenues		31,618		38,849		70,467		29,503		33,165		62,668
Total equipment rental revenues		568,505		39,176		607,681		520,052		33,415		553,467
Sales of rental equipment		—		83,052		83,052		—		71,768		71,768
Sales of new equipment		—		21,082		21,082		—		16,675		16,675
Parts, service and other		—		35,824		35,824		—		40,804		40,804
Total revenues	$	568,505	$	179,134	$	747,639	$	520,052	$	162,662	$	682,714

Receivables and contract assets and liabilities

Goodwill


	Equipment Rentals			Sales of Rental Eq.		Parts Sales			Total
Balance at December 31, 2022 (1)	$	88,529		$	8,447	$	5,714		$	102,690
Increase (2)		29			—		—			29
Decrease (3)		—			—		(5,714	)		(5,714	)
Decrease (4)		(132	)		—		—			(132	)
Increase (5)		11,282			—		—			11,282
Balance at December 31, 2023 (1)		99,708			8,447		—			108,155
Increase (6)		17,536			—		—			17,536
Decrease (7)		(100	)		—		—			(100	)
Increase (8)		8,401			—		—			8,401
Increase (9)		651			—		—			651
Balance at June 30, 2024 (1)	$	126,196		$	8,447	$	—		$	134,643

(1)

(2)

Increase is related to the closing adjustments of the OSR Acquisition during the first quarter of 2023.

(3)

Decrease is related to the Parts Sales goodwill impairment calculated during the third quarter of 2023.

(4)

Decrease is related to the final closing adjustment of the OSR Acquisition during the third quarter of 2023.

(5)

Increase due to the Giffin Equipment (“Giffin”) Acquisition during the fourth quarter of 2023.

(6)

Increase due to the Precision Rentals (“Precision”) Acquisition during the first quarter of 2024.

(7)

Decrease is related to the purchase accounting adjustment of the Giffin Acquisition during the first quarter of 2024.

(8)

Increase due to Lewistown Rentals (“Lewistown”) Acquisition during the second quarter of 2024.

(9)

Increase is related to the final closing adjustment of the Precision Acquisition during the second quarter of 2024.

Rental Equipment

Recent Accounting Pronouncements

Pronouncements Not Yet Adopted

Segment Reporting

Income Taxes

Acquisitions and Dispositions - Additional Information (Detail) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

May 01, 2024

Jan. 01, 2024

Nov. 01, 2023

Oct. 01, 2022

Jun. 30, 2024

Jun. 30, 2023

Dec. 31, 2022

Dec. 31, 2023

Business Acquisition [Line Items]

Goodwill

^[1]

$ 134,643

$ 102,690

$ 108,155

Gain on sales of property and equipment, net

$ 4,785

$ 1,103

Lewistown Rentals [Member]

Business Acquisition [Line Items]

Business acquisition, completion date

May 01, 2024

Aggregate consideration paid

$ 33,700

Percentage of goodwill recognized deductible for income tax purposes

100.00%

Goodwill

^[2]

$ 8,401

Acquisition costs

200

$ 400

Precision Rentals [Member]

Business Acquisition [Line Items]

Business acquisition, completion date

Jan. 01, 2024

Aggregate consideration paid

$ 124,000

Fair value allocated to intangible assets acquired

37,200

Percentage of goodwill recognized deductible for income tax purposes

100.00%

Goodwill

^[3]

18,187

Acquisition costs

$ 100

$ 300

Precision Rentals [Member] | Noncompetition Agreements [Member]

Business Acquisition [Line Items]

Fair value allocated to intangible assets acquired

$ 3,500

Giffin Equipment [Member]

Business Acquisition [Line Items]

Business acquisition, completion date

Nov. 01, 2023

Aggregate consideration paid

$ 31,300

Fair value allocated to intangible assets acquired

6,500

Percentage of goodwill recognized deductible for income tax purposes

100.00%

Goodwill

^[4]

11,182

Acquisition costs

$ 100

Giffin Equipment [Member] | Noncompetition Agreements [Member]

Business Acquisition [Line Items]

Fair value allocated to intangible assets acquired

$ 2,600

One Source Equipment Rentals, Inc [Member]

Business Acquisition [Line Items]

Business acquisition, completion date

Oct. 01, 2022

Business acquisition percentage of equity acquired

100.00%

Aggregate consideration paid

$ 136,700

Fair value allocated to intangible assets acquired

12,300

Goodwill

^[5]

39,451

Accrued purchase price consideration

800

Acquisition costs

$ 800

One Source Equipment Rentals, Inc [Member] | Noncompetition Agreements [Member]

Business Acquisition [Line Items]

Fair value allocated to intangible assets acquired

$ 1,700

[1]	The total carrying amount of goodwill as of December 31, 2022 in the table above is reflected net of $92.7 million of accumulated impairment charges. The total carrying amount of goodwill as of December 31, 2023 and June 30, 2024 in the table above is reflected net of $98.4 million of accumulated impairment charges.
[2]	The acquired goodwill has been allocated to the equipment rentals reporting unit.
[3]	The acquired goodwill has been allocated to the equipment rentals reporting unit.
[4]	The acquired goodwill has been allocated to the equipment rentals reporting unit.
[5]	The acquired goodwill has been allocated to the equipment rentals reporting unit.

Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

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 June 30, 2024 and December 31, 2023 are presented in the table below (amounts in thousands).


	June 30, 2024
	Carrying Amount		Fair Value
Manufacturer flooring plans payable with interest computed at 9.00% (Level 3)	$	2,642	$	2,224
Senior Unsecured Notes due 2028 with interest computed at 3.875% (Level 2)		1,243,573		1,128,213


	December 31, 2023
	Carrying Amount		Fair Value
Manufacturer flooring plans payable with interest computed at 8.75% (Level 3)	$	2,708	$	2,490
Senior Unsecured Notes due 2028 with interest computed at 3.875% (Level 2)		1,242,852		1,137,170

Stockholders' Equity - Summary of Activity in Stockholders' Equity (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 550,678	$ 534,289	$ 416,687	$ 401,042	$ 534,289	$ 401,042
Beginning Balances, shares		40,823,375			40,823,375
Stock-based compensation	2,202	$ 3,788	2,039	2,990
Cash dividends declared on common stock ($0.275 per share)	(10,092)	(9,900)	(10,046)	(9,794)
Issuance of common stock, net of forfeitures		2		1
Repurchase of shares of restricted common stock		(3,390)		(3,226)
Net income	33,261	25,889	41,216	25,674	$ 59,150	66,890
Ending Balances	$ 576,049	550,678	449,896	416,687	$ 576,049	449,896
Ending Balances, shares	40,955,169				40,955,169
Common Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 410	$ 408	$ 406	$ 405	$ 408	$ 405
Beginning Balances, shares	40,960,811	40,823,375	40,700,377	40,567,876	40,823,375	40,567,876
Issuance of common stock, net of forfeitures		$ 2		$ 1
Issuance of common stock, net of forfeitures, shares		137,436		132,501
Restricted stock forfeitures, shares	(5,642)		(5,323)
Ending Balances	$ 410	$ 410	$ 406	$ 406	$ 410	$ 406
Ending Balances, shares	40,955,169	40,960,811	40,695,054	40,700,377	40,955,169	40,695,054
Additional Paid-in Capital [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	$ 265,715	$ 261,927	$ 254,891	$ 251,901	$ 261,927	$ 251,901
Stock-based compensation	2,202	3,788	2,039	2,990
Ending Balances	267,917	265,715	256,930	254,891	267,917	256,930
Treasury Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	(79,407)	(76,017)	(73,190)	(69,964)	(76,017)	(69,964)
Repurchase of shares of restricted common stock		(3,390)		(3,226)
Ending Balances	(79,407)	(79,407)	(73,190)	(73,190)	(79,407)	(73,190)
Retained Earnings [Member]
Schedule of Capitalization, Equity [Line Items]
Beginning Balances	363,960	347,971	234,580	218,700	347,971	218,700
Cash dividends declared on common stock ($0.275 per share)	(10,092)	(9,900)	(10,046)	(9,794)
Net income	33,261	25,889	41,216	25,674
Ending Balances	$ 387,129	$ 363,960	$ 265,750	$ 234,580	$ 387,129	$ 265,750

Fair Value of Financial Instruments - Estimated Incremental Borrowing Rates for Similar Types of Borrowing Arrangements (Parenthetical) (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Level 3 [Member] \| Carrying Amount [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable, interest rate	9.00%	8.75%
Level 3 [Member] \| Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Manufacturer flooring plans payable, interest rate	9.00%	8.75%
Level 2 [Member] \| Carrying Amount [Member] \| Senior Unsecured Notes Due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes, interest rate	3.875%	3.875%
Senior unsecured notes, due year	2028	2028
Level 2 [Member] \| Fair Value [Member] \| Senior Unsecured Notes Due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior unsecured notes, interest rate	3.875%	3.875%
Senior unsecured notes, due year	2028	2028

Acquisitions and Dispositions - Unaudited Pro Forma Financial Information (Detail) - Giffin Equipment, Precision Rentals And Lewistown Rentals [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Total revenues	$ 377,009	$ 373,444	$ 750,546	$ 708,931
Net income	$ 33,199	$ 40,623	$ 58,903	$ 65,664

Senior Secured Credit Facility - Additional Information (Detail) $ in Millions	Jun. 30, 2024 USD ($)
3.875% Senior Notes [Member]
Debt Instrument [Line Items]
Asset based facility with its lenders	$ 1,537.3
Wells Fargo Capital Finance, LLC [Member] \| Credit Facility [Member]
Debt Instrument [Line Items]
Asset based facility with its lenders	750.0
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit	287.3
Available borrowings under our senior secured credit facility	450.4
Outstanding standby letters of credit	$ 12.3
Weighted average interest rate	7.20%