Company: MGRC
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0000950170-25-098322
Chunk: 6

Company: MCGRATH RENTCORP
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 time, which occurs upon the completion of delivery, installation and acceptance of the equipment by the customer. Sales contracts that satisfy the criteria for over-time recognition are recognized as work is performed by using the ratio of costs incurred to estimated total contract costs for each contract. Accounting for non-lease revenues requires judgment in determining the point in time the customer gains control of the equipment and the appropriate accounting period to recognize revenue.
Sales taxes charged to customers are reported on a net basis and are excluded from revenues and expenses.

The following table disaggregates the Company’s revenues by lease (within the scope of Topic 842) and non-lease revenues (within the scope of Topic 606) and the underlying service provided for the three and six months ended June 30, 2025 and 2024:
(in thousands) Mobile Portable Storage
Modular
Three Months Ended June 30,
────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
2025
Leasing $ 107,971 $ 17,383 28,837 - 154,191
Non-lease:
Rental related services 7,498 4,123 794 - 12,415
Sales 40,484 1,712 6,444 19,866 68,506
Other 35 128 341 - 504
Total non-lease 48,017 5,963 7,579 19,866 81,425
Total revenues $ 155,988 $ 23,346 36,416 19,866 235,616
2024
Leasing $ 101,864 $ 18,366 26,411 - 146,641
Non-lease:
Rental related services 6,727 4,347 709 - 11,783
Sales 35,930 1,266 5,218 11,373 53,787
Other 25 43 332 - 400
Total non-lease 42,682 5,656 6,259 11,373 65,970
Total revenues $ 144,546 $ 24,022 32,670 11,373 212,611
Six Months Ended June 30,
2025
Leasing $ 212,735 $ 33,975 55,401 - 302,111
Non-lease:
Rental related services 12,127 7,512 1,474 -