Company: MGRC
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0000950170-25-057987
Chunk: 9

Company: MCGRATH RENTCORP
Filing Date: 2025-04-24
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 the Company are canceled and returned to the status of authorized but unissued shares of common stock. There can be no assurance that any authorized shares will be repurchased, and the Repurchase Plan may be modified, extended or terminated by the Company’s Board of Directors at any time. There were no shares repurchased during the three months ended March 31, 2025 and 2024. As of March 31, 2025,2,000,000 shares were authorized for repurchase under the Repurchase Plan.

NOTE 5. INVENTORIES
Inventories consist of raw materials, supplies and work-in-process. Inventories are measured at the lower of actual cost or net realizable value for acquired units and estimated standard costs for manufactured units. The costs include expenditures incurred in acquiring the inventories, manufacturing, production costs, and other costs incurred in bringing them to their existing location and condition. The following table presents the carrying value of inventories:
(dollar amounts in thousands) March 31, December 31,
2025 2024
──────────────────────────────────────────────────────────────────────────────────────────
Raw materials $ 4,054 $ 3,380
Work-in-process 13,060 10,924
Inventories $ 17,114 $ 14,304

NOTE 6. GOODWILL AND INTANGIBLE ASSETS
Intangible assets consist of the following:
(dollar amounts in thousands) Estimated Average remaining life in years Cost Accumulated amortization Net book value
useful life
in years
March 31, 2025
───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
Customer relationships 8 to 11 6.7 $ 73,217 $( 27,012) $ 46,205
Non-compete agreements 5 2.6 10,556 ( 5,759) 4,797
Trade name 0.75 to 8 4.0 2,000 ( 1,400) 600
Total amortizing 85,773 ( 34,171) 51,602
Trade name - non-amortizing Indefinite 171 - 171
Total $ 85,944 $( 34,171) $ 51,773
December 31, 2024
Customer relationships 8 to 11 6.9 $ 73,217 $( 25,010) $ 48,