Company: MGRC
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0000950170-25-098322
Chunk: 9

Company: MCGRATH RENTCORP
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 six months ended June 30, 2025 and 2024. As of June 30, 2025,2,000,000 shares remained authorized for repurchase under the Repurchase Plan.

NOTE 6. 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) June 30, December 31,
2025 2024
─────────────────────────────────────────────────────────────────────────────────────────
Raw materials $ 4,531 $ 3,380
Work-in-process 7,766 10,924
Inventories $ 12,297 $ 14,304

NOTE 7. 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
June 30, 2025
───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
Customer relationships 6 to 11 6.5 $ 75,734 $( 29,069) $ 46,665
Non-compete agreements 5 2.5 10,806 ( 6,286) 4,520
Trade name 0.75 to 8 3.8 2,000 ( 1,437) 563
Total amortizing 88,540 ( 36,792) 51,748
Trade name - non-amortizing Indefinite 171 - 171
Total $ 88,711 $( 36,792) $ 51,919
December 31, 2024
Customer relationships 8 to 11 6.9 $ 73,217 $( 25,010) $ 48,207
Non-compete agreements 5 2.8 10,556 ( 5,239) 5,317
Trade name 0.75 to 8 4.3 2,000 ( 1,363) 637
Total amortizing 85,773 ( 31,