Company: MGRC
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0000950170-25-098322
Chunk: 15

Company: MCGRATH RENTCORP
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 Modular in the six months ended June 30, 2025 and $ 2 of inter-segment sales to Mobile Modular in the six months ended June 30, 2024, which required elimination in consolidation.
2.
Utilization is calculated each month by dividing the cost of rental equipment on rent by the total cost of rental equipment excluding new equipment inventory and accessory equipment. The average utilization for the period is calculated using the average costs of rental equipment.
3.
The Significant Segment Expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
4.
Allocated corporate services costs are comprised of expenses incurred by the Company which are not directly incurred by each business segment as a part of their normal operations. These allocated indirect corporate costs primarily include wages and benefits, depreciation of corporate capital assets, information technology, legal, accounting and other administrative expenses.
5.
Other segment items for each reportable segment is primarily comprised of credit losses.
6.
During the six months ended June 30, 2024, the Company incurred $ 21,721 of transaction costs attributed to the terminated merger with WillScot Mobile Mini.
No single customer accounted for more than 10% of total revenues for the six months ended June 30, 2025 and 2024. Revenues from foreign country customers accounted for2% of the Company’s total revenues for the same periods, respectively.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

This Form 10-Q, including the following Management’s Discussion and Analysis of Financial Condition and Results of Operations (“ MD& A”), contains forward-looking statements under federal securities laws. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties. Our actual results could differ materially from those indicated by forward-looking statements as a result of various factors. These factors include, but are not limited to, those set forth under this Item, those discussed in Part II - Item 1a, “ Risk Factors” and elsewhere in this Form 10-Q and those that may be identified from time to time in our reports and registration statements filed with the SEC.

This discussion should be read in conjunction with the Condensed Consolidated Financial Statements and related Notes included in Part I - Item 1 of this Form 10-Q and the Consolidated Financial Statements and related Notes and the Management’s Discussion and Analysis of Financial Condition and Results of Operations contained in our Annual Report on Form 10-K for the year ended December 31, 2024,