Company: MGRC
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0000950170-25-057987
Chunk: 8

Company: MCGRATH RENTCORP
Filing Date: 2025-04-24
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 net
Other income, net consists of the net gain on sales of property, plant and equipment. These sales are generally recognized at a point in time, with contractually defined performance obligations that are typically transferred upon the closing date of the sale. These types of sales are infrequent in occurrence and reported on the condensed consolidated statements of income within the scope of ASC 610, Other Income. Proceeds to be received from the sale of property, plant and equipment are included in Accounts receivable on the Company's condensed consolidated balance sheets.

NOTE 4. EARNINGS PER SHARE
Basic earnings per share (“ EPS”) is computed as net income divided by the weighted-average number of shares of common stock outstanding for the period. Diluted EPS is computed assuming conversion of all potentially dilutive securities including the dilutive effect of stock options, unvested restricted stock awards and other potentially dilutive securities. The table below presents the weighted-average number of shares of common stock used to calculate basic and diluted earnings per share:
Three Months Ended
March 31,
(in thousands) 2025
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Weighted-average number of shares of common stock for 24,572 24,513
Effect of potentially dilutive securities from equity-based 50 51
Weighted-average number of shares of common stock for 24,622 24,564
There were86,219 and73,190 anti-dilutive securities excluded from the computation of diluted earnings per share for the three months ended March 31, 2025, and 2024, respectively.
The Company has in the past made purchases of shares of its common stock from time to time in over-the-counter market (NASDAQ) transactions, through privately negotiated, large block transactions and through a share repurchase plan, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). In September 2024, the Company's Board of Directors increased the capacity under the share repurchase program by authorizing the Company to repurchase up to2,000,000 shares of the Company's outstanding common stock (the "Repurchase Plan"), an increase from the1,309,805 remaining shares authorized for repurchase under the Repurchase Plan established in August 2015. The amount and time of the specific repurchases are subject to prevailing market conditions, applicable legal requirements and other factors, including management’s discretion. All shares repurchased by