View Filing Data

Print Document View Excel Document

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2020	Jul. 31, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-37552
Entity Registrant Name	WILLSCOT MOBILE MINI HOLDINGS CORP.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-3430194
Entity Address, Address Line One	4646 E Van Buren St.
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Phoenix
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85008
City Area Code	480
Local Phone Number	894-6311
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	WSC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		227,721,220
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001647088
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 9,061	$ 3,045
Restricted cash	655,087	0
Trade receivables, net of allowances for credit losses at June 30, 2020 and December 31, 2019 of $19,183 and $15,828, respectively	231,007	247,596
Inventories	14,800	15,387
Prepaid expenses and other current assets	21,392	14,621
Assets held for sale	9,332	11,939
Total current assets	940,679	292,588
Rental equipment, net	1,908,299	1,944,436
Property, plant and equipment, net	142,454	147,689
Operating lease assets	146,721	146,698
Goodwill	233,829	235,177
Intangible assets, net	126,125	126,625
Other non-current assets	3,433	4,436
Total long-term assets	2,560,861	2,605,061
Total assets	3,501,540	2,897,649
Liabilities and equity
Accounts payable	87,847	109,926
Accrued liabilities	101,212	82,355
Accrued interest	16,772	16,020
Deferred revenue and customer deposits	89,258	82,978
Current portion of long-term debt	265,398	0
Operating lease liabilities - current	30,438	29,133
Total current liabilities	590,925	320,412
Long-term debt	1,971,010	1,632,589
Deferred tax liabilities	69,044	70,693
Deferred revenue and customer deposits	12,284	12,342
Operating lease liabilities - non-current	117,159	118,429
Other non-current liabilities	36,028	34,229
Long-term liabilities	2,205,525	1,868,282
Total liabilities	2,796,450	2,188,694
Commitments and contingencies (see Note 15)
Additional paid-in-capital	2,471,312	2,396,501
Accumulated other comprehensive loss	(84,807)	(62,775)
Accumulated deficit	(1,681,427)	(1,689,373)
Total shareholders' equity	705,090	644,365
Non-controlling interest	0	64,590
Total equity	705,090	708,955
Total liabilities and equity	3,501,540	2,897,649
Class A Common Stock
Liabilities and equity
Common stock	12	11
Class B Common Stock
Liabilities and equity
Common stock	$ 0	$ 1

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Trade receivables, net of allowance	$ 19,183	$ 15,828
Common stock par value (in USD per share)	$ 0.0001
Class A Common Stock
Common stock par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock authorized (in shares)	400,000,000	400,000,000
Common stock issued (in shares)	121,233,232	108,818,854
Common stock outstanding (in shares)	121,233,232	108,818,854
Class B Common Stock
Common stock par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock authorized (in shares)	100,000,000	100,000,000
Common stock issued (in shares)	0	8,024,419
Common stock outstanding (in shares)	0	8,024,419

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Modular leasing	$ 190,143	$ 185,818	$ 378,495	$ 363,110
Total revenues	256,862	263,713	512,683	517,398
Costs:
Modular leasing	47,747	55,073	97,556	102,308
Depreciation of rental equipment	45,494	43,968	91,442	85,071
Gross Profit	109,964	101,484	216,154	204,815
Expenses:
Selling, general and administrative	65,272	70,385	140,240	143,704
Other depreciation and amortization	2,883	2,949	5,957	5,733
Impairment losses on long-lived assets	0	348	0	2,638
Lease impairment expense and other related charges	1,394	1,520	3,055	4,605
Restructuring costs	749	1,632	689	3,288
Currency losses (gains), net	(380)	(354)	518	(670)
Other income, net	(1,021)	(1,290)	(745)	(2,241)
Operating income	41,067	26,294	66,440	47,758
Interest expense	28,519	31,668	56,776	62,783
Loss on extinguishment of debt	0	7,244	0	7,244
Income (loss) from operations before income tax	12,548	(12,618)	9,664	(22,269)
Income tax (benefit) expense	(285)	(1,180)	505	(802)
Net Income (loss)	12,833	(11,438)	9,159	(21,467)
Net Income (loss) attributable to non-controlling interest, net of tax	1,343	(832)	1,213	(1,590)
Net Income (loss) attributable to WillScot	$ 11,490	$ (10,606)	$ 7,946	$ (19,877)
Earnings (loss) per share attributable to WillScot
Basic (in USD per share)	$ 0.10	$ (0.10)	$ 0.07	$ (0.18)
Diluted (in USD per share)	$ 0.10	$ (0.10)	$ 0.07	$ (0.18)
Weighted average shares:
Basic (in shares)	110,692,426	108,693,924	110,174,536	108,609,068
Diluted (in shares)	111,432,963	108,693,924	112,209,212	108,609,068
Modular delivery and installation
Revenues:
Revenues	$ 51,640	$ 55,966	$ 102,710	$ 105,966
Costs:
Cost of sales	43,523	48,468	87,388	91,811
New units
Revenues:
Revenues	9,763	11,507	19,376	26,348
Total revenues	9,763	11,507	19,376	26,348
Costs:
Cost of sales	6,331	7,999	12,534	18,877
Rental units
Revenues:
Revenues	5,316	10,422	12,102	21,974
Total revenues	5,316	10,422	12,102	21,974
Costs:
Cost of sales	$ 3,803	$ 6,721	$ 7,609	$ 14,516

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 12,833	$ (11,438)	$ 9,159	$ (21,467)
Other comprehensive income (loss):
Foreign currency translation adjustment, net of income tax expense of $0 for the three and six months ended June 30, 2020 and 2019	7,982	4,321	(13,162)	8,436
Net gain (loss) on derivatives, net of income tax benefit of $0, $1,190 for the three months ended June 30, 2020 and 2019, respectively and $0, and $1,863 for the six months ended June 30, 2020 and 2019, respectively	975	(3,887)	(7,783)	(6,088)
Comprehensive income (loss)	21,790	(11,004)	(11,786)	(19,119)
Comprehensive income (loss) attributable to non-controlling interest	2,161	(786)	(672)	(1,378)
Total comprehensive income (loss) attributable to WillScot	$ 19,629	$ (10,218)	$ (11,114)	$ (17,741)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669625-108580

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 14: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=120409616&loc=SL4591551-111686

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121586364&loc=d3e3000-108585

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4569616-111683

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 20: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=120409616&loc=SL4591552-111686

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794

+ Details

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, income tax expense (benefit)	$ 0	$ 0	$ 0	$ 0
Net losses on derivatives, tax benefit	$ 0	$ 1,190	$ 0	$ 1,863

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Additional Paid-in-Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Total Shareholders' Equity	Total Shareholders' Equity Cumulative Effect, Period of Adoption, Adjustment	Non-Controlling Interest	Non-Controlling Interest Cumulative Effect, Period of Adoption, Adjustment	Class A Common Stock	Class A Common Stock Common Stock	Class B Common Stock	Class B Common Stock Common Stock
Beginning balance at Dec. 31, 2018	$ 702,197		$ 2,389,548	$ (68,026)	$ (1,683,319)		$ 638,215		$ 63,982			$ 11		$ 1
Beginning balance (Accounting Standards Update 2016-02) at Dec. 31, 2018		$ 5,226				$ 4,723		$ 4,723		$ 503
Beginning balance (Accounting Standards Update 2014-09) at Dec. 31, 2018		345				345		345
Beginning balance (in shares) at Dec. 31, 2018												108,509,000		8,024,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(10,029)				(9,271)		(9,271)		(758)
Other comprehensive income (loss)	1,914			1,748			1,748		166
Stock-based compensation (in shares)												184,000
Stock-based compensation	636		636				636
Ending Balance at Mar. 31, 2019	700,289		2,390,184	(66,278)	(1,687,522)		636,396		63,893			$ 11		$ 1
Ending balance (in shares) at Mar. 31, 2019												108,693,000		8,024,000
Beginning balance at Dec. 31, 2018	702,197		2,389,548	(68,026)	(1,683,319)		638,215		63,982			$ 11		$ 1
Beginning balance (Accounting Standards Update 2016-02) at Dec. 31, 2018		5,226				4,723		4,723		$ 503
Beginning balance (Accounting Standards Update 2014-09) at Dec. 31, 2018		$ 345				$ 345		$ 345
Beginning balance (in shares) at Dec. 31, 2018												108,509,000		8,024,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(21,467)
Ending Balance at Jun. 30, 2019	691,186		2,392,085	(65,890)	(1,698,128)		628,079		63,107			$ 11		$ 1
Ending balance (in shares) at Jun. 30, 2019												108,699,000		8,024,000
Beginning balance at Mar. 31, 2019	700,289		2,390,184	(66,278)	(1,687,522)		636,396		63,893			$ 11		$ 1
Beginning balance (in shares) at Mar. 31, 2019												108,693,000		8,024,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(11,438)				(10,606)		(10,606)		(832)
Other comprehensive income (loss)	434			388			388		46
Stock-based compensation (in shares)												6,000
Stock-based compensation	1,901		1,901				1,901
Ending Balance at Jun. 30, 2019	691,186		2,392,085	(65,890)	(1,698,128)		628,079		63,107			$ 11		$ 1
Ending balance (in shares) at Jun. 30, 2019												108,699,000		8,024,000
Beginning balance at Dec. 31, 2019	708,955		2,396,501	(62,775)	(1,689,373)		644,365		64,590			$ 11		$ 1
Beginning balance (in shares) at Dec. 31, 2019											108,818,854	108,819,000	8,024,419	8,024,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(3,674)				(3,544)		(3,544)		(130)
Other comprehensive income (loss)	(29,902)			(27,199)			(27,199)		(2,703)
Stock-based compensation (in shares)												239,000
Stock-based compensation	1,114		1,114				1,114
Common stock issued in warrant exercises and redemptions (in shares)											1,497,000
Common stock issued in warrant exercises and redemptions	4,580		4,580				4,580					$ 0
Ending Balance at Mar. 31, 2020	681,073		2,402,195	(89,974)	(1,692,917)		619,316		61,757			$ 11		$ 1
Ending balance (in shares) at Mar. 31, 2020												110,555,000		8,024,000
Beginning balance at Dec. 31, 2019	708,955		2,396,501	(62,775)	(1,689,373)		644,365		64,590			$ 11		$ 1
Beginning balance (in shares) at Dec. 31, 2019											108,818,854	108,819,000	8,024,419	8,024,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	9,159
Ending Balance at Jun. 30, 2020	705,090		2,471,312	(84,807)	(1,681,427)		705,090		0			$ 12		$ 0
Ending balance (in shares) at Jun. 30, 2020											121,233,232	121,233,000	0	0
Beginning balance at Mar. 31, 2020	681,073		2,402,195	(89,974)	(1,692,917)		619,316		61,757			$ 11		$ 1
Beginning balance (in shares) at Mar. 31, 2020												110,555,000		8,024,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	12,833				11,490		11,490		1,343
Other comprehensive income (loss)	8,957			8,139			8,139		818
Stock-based compensation (in shares)												0
Stock-based compensation	2,227		2,227				2,227
Sapphire Exchange - see Note 10	0		66,890	(2,972)			63,918		(63,918)			$ 1		$ (1)
Sapphire Exchange - see Note 10 (in shares)												10,641,000		(8,024,000)
Common stock issued in warrant exercises and redemptions (in shares)											37,000
Common stock issued in warrant exercises and redemptions	0
Ending Balance at Jun. 30, 2020	$ 705,090		$ 2,471,312	$ (84,807)	$ (1,681,427)		$ 705,090		$ 0			$ 12		$ 0
Ending balance (in shares) at Jun. 30, 2020											121,233,232	121,233,000	0	0

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating activities:
Net income (loss)	$ 9,159	$ (21,467)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	98,917	91,808
Provision for doubtful accounts	9,122	6,297
Impairment losses on long-lived assets	0	2,638
Impairment on right of use assets	57	2,439
Gain on sale of rental equipment and other property, plant and equipment	(4,366)	(5,359)
Loss on extinguishment of debt	0	7,244
Amortization of debt discounts and debt issuance costs	5,899	5,646
Stock-based compensation expense	4,014	3,191
Deferred income tax benefit (provision)	608	(1,190)
Unrealized currency (gains) losses	1,095	(624)
Changes in operating assets and liabilities
Trade receivables	5,709	(44,492)
Inventories	520	1,039
Prepaid and other assets	(6,620)	(784)
Operating lease assets and liabilities	(64)	935
Accrued interest	753	(4,092)
Accounts payable and other accrued liabilities	(17,767)	3,126
Deferred revenue and customer deposits	6,691	13,699
Net cash provided by operating activities	113,727	60,054
Investing activities:
Proceeds from sale of rental equipment	12,102	23,083
Purchase of rental equipment and refurbishments	(79,682)	(113,088)
Proceeds from the sale of property, plant and equipment	3,843	8,891
Purchase of property, plant and equipment	(3,186)	(3,899)
Net cash used in investing activities	(66,923)	(85,013)
Financing activities:
Receipts from issuance of common stock	4,580	0
Receipts from borrowings	704,293	461,203
Payment of financing costs	(1,225)	(2,686)
Repayment of borrowings	(92,282)	(430,260)
Other financing activities	(673)	(654)
Payment of debt extinguishment premium costs	0	(6,252)
Net cash provided by financing activities	614,693	21,351
Effect of exchange rate changes on cash and cash equivalents	(394)	140
Net change in cash, cash equivalents, and restricted cash	661,103	(3,468)
Cash, cash equivalents, and restricted cash at the end of the period	664,148	5,490
Cash, cash equivalents, and restricted cash at the beginning of the period	3,045	8,958
Supplemental cash flow information:
Interest paid	46,058	63,502
Income taxes (refunded) paid, net	(22)	355
Capital expenditures accrued or payable	$ 18,742	$ 24,348

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Organization and Nature of Operations WillScot Corporation (“WillScot” and, together with its subsidiaries, the “Company”) is a leading provider of modular space and portable storage solutions in the United States (“US”), Canada and Mexico. The Company leases, sells, delivers and installs mobile offices, modular buildings and storage products through an integrated network of branch locations that spans North America. On November 29, 2017, Double Eagle Acquisition Corporation ("Double Eagle") indirectly acquired Williams Scotsman International, Inc. (“WSII”) from Algeco Scotsman Global S.à r.l. (together with its subsidiaries, the “Algeco Group”), which was majority owned by an investment fund managed by TDR Capital LLP ("TDR Capital"). As part of the transaction, Double Eagle domesticated to Delaware and changed its name to WillScot Corporation. Immediately following the Merger with Mobile Mini Inc. as defined and discussed in Note 2 – Acquisitions and Relating Financing Transactions, on July 1, 2020, WillScot changed its name to “WillScot Mobile Mini Holdings Corp.” (“WillScot Mobile Mini”) and filed an amended and restated certificate of incorporation, which reclassified all outstanding shares of the Class A common stock and converted such shares into shares of common stock, par value $0.0001 per share, of WillScot Mobile Mini (the “Common Stock”). On June 30, 2020, TDR Capital exercised its right to exchange its shares in Williams Scotsman Holding Corp ("Holdings") for 10.6 million of Class A common stock at which point the Company's Class B common stock were automatically canceled. The WillScot Class A common stock was listed on the Nasdaq Capital Market (Nasdaq: WSC) up until the Merger, and the Common Stock has been listed on the Nasdaq Capital Market (Nasdaq: WSC) since the Merger. As the Merger closed after WillScot’s second quarter 2020, the preparation of financial statements in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) requires that our Condensed Consolidated Financial Statements and most of the disclosure in these Notes be presented on a historical basis, as of or for the three and six months ended June 30, 2020 or prior periods. Unless the context otherwise requires, the terms “Company” and “WillScot Mobile Mini” as used in these financial statements mean WillScot Corporation and its subsidiaries when referring to periods prior to July 1, 2020 (prior to the Merger) and to WillScot Mobile Mini Holdings Corp., when referring to periods on or after July 1, 2020 (after the Merger). Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Quarterly Report on Form 10-Q and do not include all the information and notes required by GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements comprise the financial statements of WillScot and its subsidiaries that it controls due to ownership of a majority voting interest and contain all adjustments, which are of a normal and recurring nature, necessary to present fairly the financial position, the results of operations and cash flows for the interim periods presented. On December 31, 2019, the 2019 financial statement amounts were adjusted for the adoption Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) ("ASC 842"), effective retroactively to January 1, 2019, and therefore may not agree to the Quarterly Reports filed on Form 10-Q for the respective periods of 2019. Subsidiaries are fully consolidated from the date of acquisition, being the date on which the Company obtains control, and continue to be consolidated until the date when such control ceases. The financial statements of the subsidiaries are prepared for the same reporting period as the Company. All intercompany balances and transactions are eliminated. The results of operations for the six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the full year. For further information, refer to the consolidated financial statements and notes included in WillScot's Annual Report on Form 10-K for the year ended December 31, 2019. Recently Issued and Adopted Accounting Standards Recently Issued Accounting Standards In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, Reference Rate Reform (Topic 848), which is elective, and provides for optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The Company is currently evaluating the impact of reference rate reform and potential impact of adoption of these elective practical expedients on its condensed consolidated financial statements and will consider the impact of adoption during its analysis. Recently Adopted Accounting Standards In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) ("ASC 326"), which prescribes that financial assets (or a group of financial assets) should be measured at amortized cost basis to be presented at the net amount expected to be collected based on relevant historical information from historical experience, adjusted for current conditions and reasonable and supportable forecasts that affect collectability. Credit losses relating to these financial assets are recorded through an allowance for credit losses. The Company adopted ASC 326 effective January 1, 2020. The effect of this guidance was immaterial to the Company's consolidated results of operations, financial position and cash flows. Impact of COVID-19 On January 30, 2020, the World Health Organization declared an outbreak of a highly contagious form of an upper respiratory infection caused by COVID-19, a novel coronavirus strain commonly referred to as “coronavirus”. The Company was deemed an essential infrastructure business and has continued to supply its customers. There have been significant changes to the global economic situation and to public securities markets as a consequence of the COVID-19 pandemic. If these conditions persist, it is reasonably likely that this could cause changes to estimates as a result of the markets in which the Company operates, the price of the Company’s publicly traded equity and debt in comparison to the Company’s carrying value, and the health of the global economy. Such changes to estimates could potentially result in impacts that would be material to the consolidated financial statements, particularly with respect to the fair value of the Company’s reporting units in relation to potential goodwill impairment, the fair value of long-lived assets in relation to potential impairment and the allowance for doubtful accounts.

Acquisitions and Related Financing Transactions	6 Months Ended
Acquisitions and Related Financing Transactions	Jun. 30, 2020
Business Combinations [Abstract]
Acquisitions and Related Financing Transactions	Acquisitions and Related Financing Transactions Mobile Mini Merger On March 1, 2020, the Company, along with its newly formed subsidiary, Picasso Merger Sub, Inc. (“Merger Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Mobile Mini, Inc. (“Mobile Mini”), the (“Merger”). The closing of the Merger was completed on July 1, 2020 and Merger Sub merged with and into Mobile Mini and the separate corporate existence of Merger Sub ceased and Mobile Mini continued its existence, as the surviving corporation in the Merger and a wholly-owned subsidiary of WillScot. Upon completion of the Merger, each issued and outstanding share of Mobile Mini common stock, par value $0.01 per share, converted to the right to receive 2.4050 shares of WillScot’s Class A common stock, par value $0.0001 per share, and cash in lieu of any fractional shares. Approximately 106 million shares of Common Stock were issued to Mobile Mini shareholders following the completion of the Merger and as of July 31, 2020 the Company had 227,721,220 of Common Stock. The trading price of Common Stock was $12.53 per share on the closing date. In addition, Mobile Mini stock options converted into WillScot Mobile Mini stock options. The preliminary purchase price is estimated at $1.4 billion subject to adjustment pending the finalization of preliminary valuation estimates. The Merger will be accounted for using the acquisition method of accounting, and WillScot will be treated as the accounting acquirer. Under the acquisition method of accounting, we are required to assign the purchase price to tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values at the closing date. The excess of the purchase price over those fair values will be recorded as goodwill. The Company expensed $1.6 million and $11.0 million in transaction costs related to the Merger within selling, general and administrative ("SG&A") for the three and six months ended June 30, 2020, respectively. The Company expects to expense within SG&A approximately $51 million in transaction expenses related to the Merger in the third quarter of 2020. Restricted Cash and 2025 Secured Notes In anticipation of the Merger, on June 15, 2020, Picasso Finance Sub, Inc., a newly-formed indirect finance subsidiary (the “Finance Sub”) of the Company, completed a private offering of $650.0 million in aggregate principal amount of its 6.125% senior secured notes due 2025 (the “2025 Secured Notes”). The 2025 secured notes contained provisions requiring repayment without penalty, in the event the Merger was not consummated. The offering proceeds from the 2025 Secured Notes of $650.0 million and $5.1 million of interest due through August 1, 2020 were deposited into an escrow account, pending the closing of the Merger. In connection with completion of the Merger on July 1, 2020, the offering proceeds were released and the proceeds were utilized to repay the 2022 Secured Notes (see Note 9 – Debt), repay Mobile Mini secured notes and pay certain fees and expenses related to the Merger and financing transactions. In addition, Finance Sub was merged into WSII on July 1, 2020. At June 30, 2020 the $655.1 million in the escrow account is reported as restricted cash on the condensed consolidated balance sheet. New ABL Facility On July 1, 2020, in connection with the completion of the Merger, Williams Scotsman Holdings Corp. (“Holdings”), WSII, and certain of its subsidiaries, including Mobile Mini and certain of its consolidated subsidiaries (the “Mobile Mini Entities”), entered into a new asset-based credit agreement, that provides for revolving credit facilities in the aggregate principal amount of up to $2.4 billion, consisting of: (i) a senior secured asset-based US dollar revolving credit facility in the aggregate principal amount of $2 billion (the “US Facility”), available to WSII and certain of its subsidiaries (collectively, the “US Borrowers”), and (ii) a $400 million senior secured asset-based multicurrency revolving credit facility together with the US Facility, the “New ABL Facility”), available to be drawn in US Dollars, Canadian Dollars, British Pounds Sterling or Euros by the US Borrowers, and certain of WSII’s and Mobile Mini’s wholly-owned subsidiaries organized in Canada and in the United Kingdom. On July 1, 2020, in connection with the completion of the Merger, approximately $1.47 billion of proceeds from the New ABL Facility were used to finance the repayment of both the WillScot ABL facility and the Mobile Mini ABL facility, as well as to pay fees and expenses related to the Merger and the financing transactions, including $36 million in fees related to the New ABL Facility upfront fees which will be recorded as deferred financing costs in the third quarter of 2020. The New ABL Facility matures July 1 2025. Borrowings under the New ABL Facility will initially bear interest at (i) in the case of US Dollars, at WSII’s option, either an adjusted LIBOR rate plus 1.875% or an alternative base rate plus 0.875%, (ii) in the case of Canadian Dollars, at WSII’s option, either a Canadian BA rate plus 1.875% or Canadian prime rate plus 0.875%, and (iii) in the case of Euros and British Pounds Sterling, an adjusted LIBOR rate plus 1.875%.

Revenue

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue

Revenue Disaggregation

Geographic Areas

The Company had total revenue in the following geographic areas for the three and six months ended June 30 as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)	2020		2019		2020		2019
US	$	237,613	$	238,087	$	472,941	$	469,554
Canada	16,279		21,405		32,985		39,599
Mexico	2,970		4,221		6,757		8,245
Total revenues	$	256,862	$	263,713	$	512,683	$	517,398

Major Product and Service Lines

The Company’s revenue by major product and service line for the three and six months ended June 30 was as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
(in thousands)	Total		Total		Total		Total
Modular space leasing revenue	$	132,377	$	129,475	$	263,775	$	253,025
Portable storage leasing revenue	5,716		6,021		11,565		12,262
VAPS^(a)	42,421		39,669		83,423		77,061
Other leasing-related revenue^(b)	9,629		10,653		19,732		20,762
Modular leasing revenue	190,143		185,818		378,495		363,110
Modular delivery and installation revenue	51,640		55,966		102,710		105,966
Total leasing and services revenue	241,783		241,784		481,205		469,076
New unit sales revenue	9,763		11,507		19,376		26,348
Rental unit sales revenue	5,316		10,422		12,102		21,974
Total revenues	$	256,862	$	263,713	$	512,683	$	517,398

(a) Includes $4.3 million and $4.1 million of value added products and services ("VAPS") service revenue for the three months ended June 30, 2020 and 2019, respectively and $8.3 million and $7.9 million of VAPS service revenue for the six months ended June 30 2020, and 2019, respectively.

(b) Primarily damage billings, delinquent payment charges, and other processing fees.

Modular Leasing and Services Revenue

The majority of revenue (72% for the three and six months ended June 30, 2020 and 69% and for the three and six months ended June 30, 2019) is generated by rental income subject to the guidance of ASC 842. The remaining revenue for the three and six months ended June 30, 2020 and 2019 is generated by performance obligations in contracts with customers for services or sale of units subject to the guidance in ASU 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASC 606").

Receivables, Contract Assets and Liabilities

As reflected above, approximately 72% of the Company's rental revenue is generated by lease revenue subject to the guidance of ASC 842. The customers that are responsible for the remaining revenue accounted for under ASC 606 are generally the same customers that rent the Company's equipment. The Company manages credit risk associated with its accounts receivables at the customer level. As the same customers generate the revenues that are accounted for under both ASC 606 and ASC 842, the discussions below on credit risk and the Company's allowance for doubtful accounts address its total revenues. The Company's top five customers with the largest open receivables balances represented 4.7% of the total receivables balance as of June 30, 2020.

As of December 31, 2019, the Company had approximately $42.6 million of deferred revenue that relates to removal services for lease transactions and advance billings for sale transactions, which are within the scope of ASC 606. As of June 30, 2020, the Company had approximately $47.1 million of deferred revenue relating to these services which are included in deferred revenue and customer deposits in the condensed consolidated balance sheets. During the three months ended June 30, 2020, $9.2 million of previously deferred revenue relating to removal services for lease transactions and advance billings for sale transactions was recognized as revenue.

The Company does not have material contract assets and it did not recognize any material impairments of contract assets.

The Company's uncompleted contracts with customers have unsatisfied (or partially satisfied) performance obligations. For the future services revenues that are expected to be recognized within twelve months, the Company has elected to utilize the optional disclosure exemption made available regarding transaction price allocated to unsatisfied (or partially unsatisfied) performance obligations. The transaction price for performance obligations that will be completed in greater than twelve months is variable based on the costs ultimately incurred to provide those services.

The primary costs to obtain contracts for new and rental unit sales with the Company's customers are commissions paid to our sales force. The Company pays its sales force commissions on the sale of new and rental units. For new and rental unit sales, the period benefited by each commission is less than one year, therefore the commissions are be expensed as incurred.

Credit Losses

The Company is exposed to credit losses from trade receivables generated through its leasing and sales business. The Company assesses each customer’s ability to pay for the products it sells by conducting a credit review. The credit review considers expected billing exposure and timing for payment and the customer’s established credit rating. The Company performs its credit review of new customers at inception of the customer relationship and for existing customers when the customer transacts new leases after a defined period of dormancy. The Company also considers contract terms and conditions, country risk and business strategy in the evaluation.

The Company monitors ongoing credit exposure through an active review of customer balances against contract terms and due dates. The Company may employ collection agencies and legal counsel to pursue recovery of defaulted receivables. The Company uses a loss-rate method to assess for credit losses. The allowances for credit losses reflect the estimate of the amount of receivables that the Company will be unable to collect based on historical write-off experience and, as applicable, current conditions and reasonable and supportable forecasts that affect collectability. This estimate could require change based on changing circumstances, including changes in the economy or in the particular circumstances of individual customers. Accordingly, the Company may be required to increase or decrease our allowances.


(in thousands)	Six Months Ended June 30, 2020				Year Ended December 31, 2019
Balance at beginning of year	$	15,828			$	9,340
Net charges to bad debt expense and revenue	9,122				14,496
Write-offs			(5,573)				(7,945)
Foreign currency translation and other			(194)				(63)
Balance at end of period			$	19,183			$	15,828

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

LeasesAs of June 30, 2020, the undiscounted future lease payments for operating lease liabilities were as follows:


	(in thousands)
2020	$	19,748
2021	36,770
2022	30,487
2023	24,353
2024	19,141
Thereafter	53,540
Total lease payments	184,039
Less: interest	(36,442)
Present value of lease liabilities	$	147,597

The Company’s lease activity during the six months ended June 30, 2020 and 2019 was as follows:


	Six Months Ended June 30,
Financial Statement Line (in thousands)	2020				2019
Operating Lease Expense
Fixed lease expense
Cost of leasing and services			$	3,074			$	3,559
Selling, general and administrative			16,866				16,820
Lease impairment expense and other related charges			1,359				533
Short-term lease expense
Cost of leasing and services			13,603				14,708
Selling, general and administrative			851				1,382
Lease impairment expense and other related charges			466				—
Variable lease expense
Cost of leasing and services			3,657				1,359
Selling, general and administrative			2,131				2,085
Lease impairment expense and other related charges			511				—
Total operating lease expense	$	42,518			$	40,446

The Company initiated certain restructuring plans associated with the ModSpace acquisition in order to capture operating synergies as a result of integrating ModSpace into WillScot. The restructuring activities primarily included the termination of leases for duplicative branches, equipment and corporate facilities. As part of these plans, certain of its leased locations were vacated and leases were terminated or impaired.

During the six months ended June 30, 2020, the Company recorded $3.1 million in lease impairment expense and other related charges which is comprised of $0.8 million loss on lease exit and impairment charges and $2.3 million in closed location rent expense. During the six months ended June 30, 2019, the Company recorded $4.6 million in lease impairment expense and other related charges which is comprised of $2.4 million in right-of-use ("ROU") asset impairment on leased locations no longer used in operations, $1.7 million loss on lease exit and $0.5 million in closed location rent expense.

Supplemental cash flow information related to operating leases for the six months ended June 30, 2020 was as follows:


	Six Months ended June 30,
Supplemental Cash Flow Information (in thousands)	2020		2019
Cash paid for the amounts included in the measurement of lease liabilities	$	20,271	$	19,692
Right of use assets obtained in exchange for lease obligations	$	19,242	$	16,160

Weighted-average remaining operating lease terms and the weighted average discount rates as of June 30, 2020 and December 31, 2019 were as follows:

Lease Terms and Discount Rates

June 30,
2020

December 31, 2019

Weighted-average remaining lease term

6.41 years

6.51 years

Weighted-average discount rate

6.9

7.0

The Company presents information related to leasing revenues in Note 3.

Inventories	6 Months Ended
Inventories	Jun. 30, 2020
Inventory Disclosure [Abstract]
Inventories	InventoriesInventories were comprised of raw materials and consumables of $14.8 million and $15.4 million at June 30, 2020 and December 31, 2019, respectively.

Rental Equipment, net

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Rental Equipment, net

Rental equipment, net, at the respective balance sheet dates consisted of the following:


(in thousands)	June 30, 2020		December 31, 2019
Modular units and portable storage	$	2,476,963	$	2,455,471
Value added products	130,886		121,855
Total rental equipment	2,607,849		2,577,326
Less: accumulated depreciation	(699,550)		(632,890)
Rental equipment, net	$	1,908,299	$	1,944,436

Goodwill

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Changes in the carrying amount of goodwill were as follows:


(in thousands)	Modular – US		Modular – Other North America		Total
Balance at December 31, 2018	$	213,264	$	33,753	$	247,017
Changes to preliminary purchase price accounting	(9,331)		(4,148)		(13,479)
Effects of movements in foreign exchange rates	—		1,639		1,639
Balance at December 31, 2019	203,933		31,244		235,177
Effects of movements in foreign exchange rates	—		(1,348)		(1,348)
Balance at June 30, 2020	$	203,933	$	29,896	$	233,829

The Company had no goodwill impairment during the six months ended June 30, 2020 or the year ended December 31, 2019.

The Company considered the economic environment resulting from the COVID-19 pandemic as part of its review for indicators of potential impairment and reviewed qualitative information currently available in determining if it was more likely than not that the fair values of the Company’s reporting units were less than the carrying amounts as of June 30, 2020. Based on the Company’s current long-term projections and the extent of fair value in excess of carrying value at the Company's October 1, 2019 annual impairment test date, management concluded that it is not more likely than not that the fair value of the Company's reporting units were less than their carrying amount during the three and six months ended June 30, 2020 and there were no impairment indicators that would require an interim impairment test.

Due to the uncertain and rapidly evolving nature of the conditions surrounding the COVID-19 pandemic, changes in economic outlook may change our long-term projections.

Intangibles

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangibles

Intangible assets other than goodwill at the respective balance sheet dates consisted of the following:


	June 30, 2020
(in thousands)	Remaining life (in years)	Gross carrying amount		Accumulated amortization		Net book value
Intangible assets subject to amortization:
ModSpace trade name	1.2	$	3,000	$	(1,875)	$	1,125

Indefinite-lived intangible assets:
Trade name		125,000		—		125,000
Total intangible assets other than goodwill		$	128,000	$	(1,875)	$	126,125


	December 31, 2019
(in thousands)	Remaining life (in years)	Gross carrying amount		Accumulated amortization		Net book value
Intangible assets subject to amortization:
ModSpace trade name	1.7	$	3,000	$	(1,375)	$	1,625

Indefinite-lived intangible assets:
Trade names		125,000		—		125,000
Total intangible assets other than goodwill		$	128,000	$	(1,375)	$	126,625

For both the six months ended June 30, 2020 and 2019, the aggregate amount recorded to other depreciation and amortization expense for the ModSpace trade name was $0.5 million.

Debt

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Debt

The carrying value of debt outstanding at the respective balance sheet dates consisted of the following:


(in thousands, except rates)	Interest rate	Year of maturity	June 30, 2020		December 31, 2019
2022 Secured Notes	7.875%	2022	265,398		264,576
US ABL Facility	Varies	2022	850,925		885,245
Canadian ABL Facility (a)	Varies	2022	—		—
2023 Secured Notes	6.875%	2023	483,643		482,768
2025 Senior Notes	6.125%	2025	636,442		—
Total debt			$	2,236,408	$	1,632,589
Less: Current portion			265,398		—
Total long-term debt			$	1,971,010	$	1,632,589

(a) As of June 30, 2020 and December 31, 2019, the Company had no outstanding principal borrowings on the Canadian ABL Facility and $1.6 million and $2.1 million of related debt issuance costs, respectively. As there were no principal borrowings outstanding on the Canadian ABL Facility, the $1.6 million and $2.1 million of debt issuance costs related to that facility are included in other non-current assets on the condensed consolidated balance sheet as of June 30, 2020 and December 31, 2019, respectively.

The Company is subject to various covenants and restrictions. The Company was in compliance with all covenants related to debt as of June 30, 2020 and December 31, 2019. Subsequent to June 30, 2020, and in connection with the Merger and related refinancing described in Note 2, the Company repaid the 2022 Secured Notes and the ABL Facility as described below.

ABL Facility

On November 29, 2017, WS Holdings, WSII and certain of its subsidiaries entered into an ABL credit agreement (the “ABL Facility”), as amended in July and August 2018, that provides a senior secured revolving credit facility that matures on May 29, 2022.

The ABL Facility consists of (i) a $1.285 billion asset-backed revolving credit facility (the “US ABL Facility”) for WSII and certain of its domestic subsidiaries (the “US Borrowers”), (ii) a $140.0 million asset-based revolving credit facility (the “Canadian ABL Facility”) for certain Canadian subsidiaries of WSII (the “Canadian Borrowers,” and together with the US Borrowers, the “Borrowers”), and (iii) an accordion feature that permits the Borrowers to increase the lenders’ commitments in an aggregate amount not to exceed $375.0 million, subject to the satisfaction of customary conditions and lender approval, plus any voluntary prepayments that are accompanied by permanent commitment reductions under the ABL Facility.

Borrowing availability under the ABL Facility is equal to the lesser of $1.425 billion and the applicable borrowing bases (the “Line Cap”). The borrowing bases are a function of, among other things, the value of the assets in the relevant collateral pool. At June 30, 2020, the Line Cap is $1.416 billion.

The obligations of the US Borrowers are unconditionally guaranteed by Holdings and each existing and subsequently acquired or organized direct or indirect wholly-owned US organized restricted subsidiary of Holdings, other than excluded subsidiaries (together with Holdings, the "US Guarantors"). The obligations of the Canadian Borrowers are unconditionally guaranteed by the US Borrowers and the US Guarantors, and each existing and subsequently acquired or organized direct or indirect wholly-owned Canadian organized restricted subsidiary of Holdings other than certain excluded subsidiaries (together with the US Guarantors, the "ABL Guarantors").

At June 30, 2020, the weighted average interest rate for borrowings under the ABL Facility was 2.70%. The weighted average interest rate on the balance outstanding, as adjusted for the effects of the interest rate swap agreements was 4.03%. Refer to Note 15 for a more detailed discussion on interest rate management.

At June 30, 2020, the Borrowers had $540.5 million of available borrowing capacity under the ABL Facility, including $409.6 million under the US ABL Facility and $130.9 million under the Canadian ABL Facility. At December 31, 2019, the Borrowers had $509.1 million of available borrowing capacity under the ABL Facility, including $369.3 million under the US ABL Facility and $139.8 million under the Canadian ABL Facility.

The Company had issued $10.4 million of standby letters of credit under the ABL Facility at June 30, 2020 and December 31, 2019. At June 30, 2020, letters of credit and guarantees carried fees of 2.625%.

The Company had $865.0 million and $903.0 million in outstanding principal under the ABL Facility at June 30, 2020 and December 31, 2019, respectively.

Debt issuance costs and discounts of $14.1 million and $17.8 million are included in the carrying value of the US ABL Facility at June 30, 2020 and December 31, 2019, respectively.

In connection with the Merger and related financing transactions, on July 1, 2020, the Company entered into the New ABL Facility and repaid the ABL Facility as described in Note 2 – Acquisitions and Related Financings.

2022 Senior Secured Notes

As of June 30, 2020, WSII had $270.0 million aggregate principal amount of 7.875% senior secured notes due December 15, 2022 (the “2022 Secured Notes”).

Unamortized debt issuance costs pertaining to the 2022 Secured Notes were $4.6 million and $5.4 million as of June 30, 2020 and December 31, 2019, respectively.

In connection with the Merger and related financing transactions, on July 1, 2020, the Company redeemed all of its 2022 Secured Notes and paid a make whole premium of $10.6 million which will be included in the loss from extinguishment expenses recorded in July 2020. The 2022 Secured Notes are classified as current at June 30, 2020 as the Company utilized cash in the escrow account classified as Restricted cash on the condensed consolidated balance sheet to repay these notes.

2023 Senior Secured Notes

On August 6, 2018, a finance subsidiary of WSII completed a private offering of $300.0 million in aggregate principal amount of its 6.875% senior secured notes due August 15, 2023 (the “Initial 2023 Secured Notes”). Interest is payable semi-annually on February 15 and August 15 of each year, beginning February 15, 2019.

On May 14, 2019, WSII completed a tack-on offering of $190.0 million in aggregate principal amount to the Initial 2023 Secured Notes (the "Tack-on Notes"). The Tack-on Notes were issued as additional securities under an original indenture. The Tack-On Notes and the Initial 2023 Secured Notes are treated as a single class of debt securities under the indenture (the "2023 Secured Notes") and together with the 2022 Secured Notes, the "Senior Secured Notes"). The Tack-On Notes have identical terms to the Initial 2023 Secured Notes, other than with respect to the issue date and issue price. WSII incurred a total of $3.0 million in debt issuance costs in connection with the tack-on offering, which were deferred and are being amortized through the August 15, 2023 maturity date. The Tack-on Notes were issued at a premium of $0.5 million which is being amortized through the August 15, 2023 maturity date.

Unamortized debt issuance costs and discounts, net of premium, pertaining to the 2023 Secured Notes were $6.4 million and $7.2 million as of June 30, 2020 and December 31, 2019, respectively.

2023 Senior Unsecured Notes

Prior to June 30, 2019, the Company held $200.0 million in aggregate principal amount of senior unsecured notes due November 15, 2023 (the “Unsecured Notes”). On June 19, 2019 (the "Redemption Date"), WSII used proceeds from the WillScot US ABL Facility to redeem all $200.0 million in aggregate outstanding principal amount of the Unsecured Notes at a redemption price of 102.0%, plus a make-whole premium of 1.126% and any accrued and unpaid interest to, but not including, the Redemption Date. The Company recorded a loss on extinguishment of $7.2 million during the second quarter of 2019, which included $6.2 million of make-whole premiums and $1.0 million related to the write-off of unamortized deferred financing fees.

2025 Senior Secured Notes

As more fully described in Note 2 – Acquisitions and Related Financing Transactions, on June 15, 2020, the Company, completed a private offering of $650.0 million in aggregate principal amount of its 6.125% senior secured notes due 2025. The Company recorded $13.6 million in deferred financing fees related to the 2025 secured notes.

The 2025 secured notes mature on June 15, 2025. They bear interest at a rate of 6.125% per annum. Interest is payable semi-annually on June 15 and December 15 of each year, beginning December 15, 2020.

Equity

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Equity

Common Stock

On June 30, 2020, as contemplated by the Merger Agreement, and pursuant to the terms of an exercise notice delivered by Sapphire Holdings, an affiliate of TDR Capital, to WillScot, Sapphire Holdings exchanged each of its shares of common stock, par value $0.0001 per share, of Holdings, pursuant to that certain existing exchange agreement, between WillScot and Sapphire Holdings, for 1.3261 shares of newly issued Class A common stock (the “Sapphire Exchange”). As a result of the Sapphire Exchange, all issued and outstanding shares of WillScot’s Class B common stock, par value $0.0001 per share (the "Class B common stock"), were automatically canceled for no consideration and the existing exchange agreement was automatically terminated. As a result of the Sapphire Exchange, Holdings became a wholly-owned subsidiary of WillScot. Sapphire Holdings received 10,641,182 shares of Class A common stock in the Sapphire Exchange (the “Exchange Shares”).

Prior to the Sapphire Exchange, Sapphire Holdings ownership of Holdings was recorded as a non-controlling interest in the condensed consolidated financial statements. Effective as of June 30, 2020, due to the Sapphire Exchange, the

Company's subsidiaries are each wholly owned and there is no non-controlling interest. As a result of the Sapphire Exchange, non-controlling interest of $63.9 million was reclassified to $66.9 million of additional paid-in-capital and $(3.0) million to accumulated other comprehensive loss, on the condensed consolidated balance sheet.

In connection with the Sapphire Exchange, stock compensation vesting event described in Note 14 and the warrant exercises described below, the Company issued 12,414,378 shares of Class A common stock during the six months ended June 30, 2020.

In conjunction with the Merger on July 1, 2020, the Company issued 106,428,908 shares of Class A common stock in exchange for Mobile Mini common stock outstanding and subsequently filed an amended and restated certificate of incorporation, which reclassified all outstanding shares of the Class A common stock and converted such shares into shares of common stock, par value $0.0001 per share, of WillScot Mobile Mini. As of July 31, 2020, the Company had 227,721,220 shares of Common Stock.

Warrants

On January 24, 2020, the Company delivered a notice (the “Redemption Notice”) to redeem all of its outstanding warrants to purchase the Company’s Class A common stock, which were issued under the warrant agreement, dated September 10, 2015, by and between Double Eagle and Continental Stock Transfer & Trust Company, as warrant agent (the “Warrant Agreement”), as part of the units sold in Double Eagle's initial public offering that remained unexercised on February 24, 2020. As further described in the Redemption Notice and permitted under the Warrant Agreement, holders of these warrants who exercised them following the date of the Redemption Notice were required to do so on a cashless basis. From January 1, 2020 through January 24, 2020, 796,610 warrants were exercised for cash, resulting in the Company receiving cash proceeds of $4.6 million and the Company issued 398,305 shares of the Company's Class A common stock. After January 24, 2020 through February 24, 2020, 5,836,048 warrants were exercised on a cashless basis. An aggregate of 1,097,162 shares of the Company's Class A common stock was issued in connection with these exercises. Thereafter, the Company completed the redemption of 38,509 remaining warrants under the Redemption Notice for $0.01 per warrant.

At June 30, 2020, the Company has 9,782,106 warrants each, exercisable for one share, with an exercise price of $15.50 and 17,561,700 warrants exercisable for one half share with an exercise price of $5.75 outstanding.

Accumulated Other Comprehensive Loss

The changes in accumulated other comprehensive loss ("AOCL"), net of tax, for the six months ended June 30, 2020 and 2019 were as follows:


(in thousands)	Foreign Currency Translation		Unrealized losses on hedging activities		Total
Balance at December 31, 2019	$	(52,982)	$	(9,793)	$	(62,775)
Total other comprehensive loss prior to reclassifications	(21,144)		(10,330)		(31,474)
Reclassifications to the statements of operations	—		1,572		1,572
Less other comprehensive loss attributable to non-controlling interest	1,913		790		2,703
Balance at March 31, 2020	(72,213)		(17,761)		(89,974)
Total other comprehensive income (loss) prior to reclassifications	7,982		(1,642)		6,340
Reclassifications to the statements of operations	—		2,617		2,617
Less other comprehensive income attributable to non-controlling interest	(730)		(88)		(818)
Impact of elimination of non-controlling interest on accumulated other comprehensive income	(1,299)		(1,673)		(2,972)
Balance at June 30, 2020	$	(66,260)	$	(18,547)	$	(84,807)


(in thousands)	Foreign Currency Translation		Unrealized losses on hedging activities		Total
Balance at December 31, 2018	$	(62,608)	$	(5,418)	$	(68,026)
Total other comprehensive income (loss) prior to reclassifications	4,115		(2,636)		1,479
Reclassifications to statements of operations	—		435		435
Less other comprehensive loss (income) attributable to non-controlling interest	(364)		198		(166)
Balance at March 31, 2019	(58,857)		(7,421)		(66,278)
Total other comprehensive income (loss) prior to reclassifications	4,321		(4,500)		(179)
Reclassifications from AOCI to income	—		613		613
Less other comprehensive loss (income) attributable to non-controlling interest	(397)		351		(46)
Balance at June 30, 2019	$	(54,933)	$	(10,957)	$	(65,890)

For the six months ended June 30, 2020 and 2019, $4.2 million and $1.2 million, respectively, was reclassified from AOCL into the condensed consolidated statement of operations within interest expense related to the interest rate swaps discussed in Note 15. The Company did not record a tax benefit for the three and six months ended June 30, 2020, associated with this reclassification. For the three and six months ended June 30, 2019, the Company recorded a tax benefit of $1.2 million and $1.9 million, respectively, associated with this reclassification.

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recorded $(0.3) million and $0.5 million of income tax (benefit) expense for the three and six months ended June 30, 2020, respectively and $(1.2) million and $(0.8) million for the three and six months ended June 30, 2019 respectively. The Company’s effective tax rate for the three and six months ended June 30, 2020 was (2.3)%, and 5.2%, respectively, and 9.4% and 3.6% for the same periods in 2019. The income tax (benefit) expense for the three and six months ended June 30, 2020 is primarily a result of the benefit from reversal of valuation allowance due to pre-tax income offset by net increase in expense for certain discrete items recorded in the respective quarters, mainly driven by legislative enactments. The income tax benefit for the three and six months ended June 30, 2019 is primarily from discrete items recorded in the respective quarters, including state legislative enactments and uncertain tax position reversals.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Fair Value Measures

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Measures

The fair value of financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

The Company utilizes the suggested accounting guidance for the three levels of inputs that may be used to measure fair value:


Level 1 -			Observable inputs such as quoted prices in active markets for identical assets or liabilities;
Level 2 -			Observable inputs, other than Level 1 inputs in active markets, that are observable either directly or indirectly; and
Level 3 -			Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions

The Company has assessed that the fair value of cash and cash equivalents, restricted cash, trade receivables, trade payables, and other current liabilities approximate their carrying amounts.

The following table shows the carrying amounts and fair values of financial assets and liabilities, including their levels in the fair value hierarchy:


	June 30, 2020														December 31, 2019
	Carrying Amount		Fair Value										Carrying Amount		Fair Value
(in thousands)					Level 1		Level 2		Level 3						Level 1		Level 2	Level 3
US ABL Facility	$	850,925	$	—	$	865,000	$	—	$	885,245	$	—	$	903,000	$	—
Canadian ABL Facility	—		—		—		—		—		—		—		—
2022 Secured Notes	265,398		—		281,003		—		264,576		—		282,250		—
2023 Secured Notes	483,643		—		505,754		—		482,768		—		517,334		—
2025 Secured Notes	636,442		—		664,788		—		—		—		—		—
Total	$	2,236,408	$	—	$	2,316,545	$	—	$	1,632,589	$	—	$	1,702,584	$	—

The carrying value of the US ABL Facility, the 2022 Secured Notes, the 2023 Secured Notes, and the 2025 Secured Notes includes $14.1 million, $4.6 million, $6.4 million, and $13.6 million, respectively, of unamortized debt issuance costs as of June 30, 2020, which are presented as a direct reduction of the corresponding liability. The carrying value of the US ABL Facility, the 2022 Secured Notes and the 2023 Secured Notes includes $17.8 million, $5.4 million and $7.2 million, respectively, of unamortized debt issuance costs as of December 31, 2019, which are presented as a direct reduction of the corresponding liability.

The carrying value of the US and Canadian ABL Facilities, excluding debt issuance costs, approximates fair value as the interest rates are variable and reflective of market rates. The fair value of the 2022 Secured Notes, the 2023 Secured Notes, and the 2025 Secured Notes is based on their last trading price at the end of each period obtained from a third party. The location and the fair value of derivative assets and liabilities designated as hedges in the condensed consolidated balance sheet are disclosed in Note 15.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Restructuring

6 Months Ended

Jun. 30, 2020

Restructuring and Related Activities [Abstract]

Restructuring

Restructuring costs include charges associated with exit or disposal activities that meet the definition of restructuring under FASB ASC Topic 420, Exit or Disposal Cost Obligations (“ASC 420”). The Company's restructuring plans are generally country or region specific and are typically completed within a one year period. Restructuring costs incurred under these plans include (i) one-time termination benefits related to employee separations, (ii) contract termination costs, and (iii) non lease costs for consolidating or closing facilities. Costs related to the integration of acquired businesses that do not meet the definition of restructuring under ASC 420, such as employee training costs, duplicate facility costs, and professional services expenses, are included within SG&A expense.

The following is a summary of the activity in the Company’s restructuring accruals for the three and six months ended June 30, 2020 and 2019:


	Three Months Ended June 30,
(in thousands)	2020										2019
	Employee Costs		Facility Exit Costs		Total		Employee Costs		Facility Exit Costs		Total
Balance at beginning of the period - March 31, 2020	$	168	$	—	$	168	$	2,847	$	38	$	2,885
Reclassification of liability to operating lease asset at the adoption of ASC 842(a)	—		—		—		—		(476)		(476)
Charges	743		5		748		123		1,509		1,632
Cash payments	(387)		—		(387)		(1,704)		—		(1,704)
Foreign currency translation	1		—		1		5		—		5
Non-cash movements	—		(5)		(5)		(128)		(1,071)		(1,199)
Balance at end of period	$	525	$	—	$	525	$	1,143	$	—	$	1,143

Stock-Based Compensation	6 Months Ended
Stock-Based Compensation	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation During the six months ended June 30, 2020, 174,020 time-based restricted stock units ("Time-Based RSUs"), 65,959 restricted stock awards ("RSAs"), and 202,923 market-based restricted stock units ("Market-Based RSUs", and together with the Time-Based RSUs, the "RSUs") were granted under the WillScot Corporation 2017 Incentive Award Plan (the "Plan"). During the six months ended June 30, 2020, 323,678 Time-Based RSUs, 52,755 RSAs, and 133,547 stock options vested in accordance with their terms, resulting in the issuance of 238,927 shares of Class A common stock to participants, net of 84,751 shares withheld to cover taxes. During the six months ended June 30, 2020, 15,106 Time-Based RSUs and 12,700 Market-Based RSUs were forfeited. At June 30, 2020, 65,959 RSAs, 900,541 Time-Based RSUs, 478,504 Market-Based RSUs, and 253,328 stock options were unvested, with weighted average grant date fair values of $11.75, $13.49, $14.71, and $5.51, respectively. RSAs Compensation expense for RSAs recognized in SG&A on the condensed consolidated statements of operations was $0.3 million and $0.2 million for the three months ended June 30, 2020 and 2019, respectively. Compensation expense for RSAs on the condensed consolidated statements of operations was $0.5 million and $0.5 million for the six months ended June 30, 2020 and 2019, respectively, with associated tax benefits of $0.0 million and $0.1 million. At June 30, 2020, there was $0.7 million of unrecognized compensation cost related to RSAs that is expected to be recognized over the remaining weighted average vesting period of 0.9 years. Time-Based RSUs Compensation expense for Time-Based RSUs recognized in SG&A on the condensed consolidated statements of operations was $1.2 million and $1.2 million for the three months ended June 30, 2020 and 2019, respectively. Compensation expense for Time-Based RSUs recognized in SG&A on the condensed consolidated statements of operations was $2.2 million and $1.9 million for the six months ended June 30, 2020 and 2019, respectively, with associated tax benefits of $0.0 million and $0.2 million. At June 30, 2020, unrecognized compensation cost related to Time-Based RSUs totaled $10.8 million and is expected to be recognized over the remaining weighted average vesting period of 2.5 years. Market-Based RSUs Compensation expense for Market-Based RSUs recognized in SG&A on the condensed consolidated statements of operations was $0.6 million and $0.3 million for the three months ended June 30, 2020 and 2019, respectively. Compensation expense for Market-Based RSUs recognized in SG&A on the condensed consolidated statements of operations was $0.9 million and $0.4 million for the six months ended June 30, 2020 and 2019, respectively, with associated tax benefits of $0.0 million and $0.1 million. At June 30, 2020, unrecognized compensation cost related to Market-Based RSUs totaled $5.1 million and is expected to be recognized over the remaining vesting period of 2.1 years. Stock Option Awards Compensation expense for stock option awards, recognized in SG&A on the condensed consolidated statements of operations, was $0.2 million and $0.2 million for the three months ended June 30, 2020 and 2019, respectively. Compensation expense for stock option awards, recognized in SG&A on the condensed consolidated statements of operations, was $0.4 million and $0.4 million for the six months ended June 30, 2020 and 2019, respectively, with associated tax benefits of $0.0 million and $0.1 million. At June 30, 2020, unrecognized compensation cost related to stock option awards totaled $1.3 million and is expected to be recognized over the remaining vesting period of 1.7 years. 2020 Incentive Plan On June 24, 2020, WillScot’s stockholders approved the Company’s 2020 Incentive Award Plan (the “2020 Incentive Plan”), subject to completion of the Merger. The plan amends and restates in its entirety the WillScot Corporation 2017 Incentive Award Plan, as amended. As a result, all future incentive awards to the Company’s executive officers, including as contemplated by such officers’ employment agreements, in connection with the completion of the Merger or otherwise as determined by the Company’s compensation committee and the Board, as applicable, will be granted under the 2020 Incentive Plan. On July 2, 2020, the Company issued 122,332 performance based stock units ("PSUs") and 458,841 RSUs under the 2020 Incentive Plan.

Derivatives

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

On November 6, 2018, WSII entered into an interest rate swap agreement (the “Swap Agreement”) with a financial counterparty that effectively converts $400.0 million in aggregate notional amount of variable-rate debt under the Company’s current and new ABL Facility into fixed-rate debt. The Swap Agreement will terminate on May 29, 2022. Under the terms of the Swap Agreement, the Company receives a floating rate equal to 1 month LIBOR and makes payments based on a fixed rate of 3.06% on the notional amount. The receive rate under the terms of the Swap Agreement was 0.18% and 1.74% at June 30, 2020 and December 31, 2019, respectively.

The Swap Agreement was designated and qualified as a hedge of the Company’s exposure to changes in interest payment cash flows created by fluctuations in variable interest rates on the ABL Facility.

The location and the fair value of derivative instruments designated as hedges, at the respective balance sheet dates, were as follows:


(in thousands)	Balance Sheet Location	June 30, 2020		December 31, 2019
Cash Flow Hedges:
Interest rate swap	Accrued liabilities	$	11,181	$	5,348
Interest rate swap	Other long-term liabilities	$	11,170	$	8,943

The fair value of the interest rate swap is based on dealer quotes of market forward rates, a Level 2 input on the fair value hierarchy, and reflects the amount that the Company would receive or pay as of June 30, 2020 and December 31, 2019, respectively, for contracts involving the same attributes and maturity dates.

The following table discloses the impact of the interest rate swap, excluding the impact of income taxes, on other comprehensive income (“OCI”), AOCI and the Company’s statement of operations for the six months ending June 30:


(in thousands)	2020		2019
Loss recognized in OCI	$	(7,783)	$	(7,951)
Location of loss recognized in income	Interest expense		Interest expense
Loss reclassified from AOCI into income (effective portion)	$	(4,189)	$	(1,181)

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments At June 30, 2020 and December 31, 2019, commitments for the acquisition of rental equipment and property, plant and equipment were $4.7 million and $4.5 million, respectively. Contingencies The Company is involved in various lawsuits or claims in the ordinary course of business. Management is of the opinion that there is no pending claim or lawsuit which, if adversely determined, would have a material effect on the Company’s financial condition, results of operations or cash flows.

Segment Reporting

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Reporting

The Company operates in one principal line of business: modular leasing and sales. Modular leasing and sales is comprised of two operating segments: US and Other North America. The US modular operating segment (“Modular - US”) consists of the contiguous 48 states and Hawaii. The Other North America operating segment (“Modular - Other North America”) consists of Alaska, Canada and Mexico. Total assets for each reportable segment are not available because the Company utilizes a centralized approach to working capital management. Transactions between reportable segments are not significant. As a result of the Merger, the Company will evaluate its operating segments for future reporting.

The Chief Operating Decision Maker ("CODM") evaluates business segment performance utilizing Adjusted EBITDA, which excludes certain items as shown in the reconciliation of the Company’s consolidated net loss before tax to Adjusted EBITDA below. Management believes that evaluating segment performance excluding such items is meaningful because it provides insight with respect to the intrinsic operating results of the Company.

The Company also regularly evaluates gross profit by segment to assist in the assessment of its operational performance. The Company considers Adjusted EBITDA to be the more important metric because it more fully captures the business performance of the segments, inclusive of indirect costs.

Reportable Segments

The following tables set forth certain information regarding each of the Company’s reportable segments for the three and six months ended June 30, 2020 and 2019, respectively.


	Three Months Ended June 30, 2020
(in thousands)	Modular - US		Modular - Other North America		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	175,285	$	14,858	$	190,143
Modular delivery and installation	47,213		4,427		51,640
Sales revenue:
New units	9,406		357		9,763
Rental units	4,144		1,172		5,316
Total revenues	236,048		20,814		256,862

Costs:
Cost of leasing and services:
Modular leasing	44,567		3,180		47,747
Modular delivery and installation	39,758		3,765		43,523
Cost of sales:
New units	6,160		171		6,331
Rental units	2,961		842		3,803
Depreciation of rental equipment	41,651		3,843		45,494
Gross profit	$	100,951	$	9,013	$	109,964
Other selected data:
Adjusted EBITDA	$	90,613	$	6,907	$	97,520
Selling, general and administrative expense	$	59,328	$	5,944	$	65,272
Other depreciation and amortization	$	2,704	$	179	$	2,883
Purchases of rental equipment and refurbishments	$	38,065	$	1,969	$	40,034


	Three Months Ended June 30, 2019
(in thousands)	Modular - US		Modular - Other North America		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	168,826	$	16,992	$	185,818
Modular delivery and installation	52,495		3,471		55,966
Sales revenue:
New units	10,293		1,214		11,507
Rental units	4,888		5,534		10,422
Total revenues	236,502		27,211		263,713

Costs:
Cost of leasing and services:
Modular leasing	51,083		3,990		55,073
Modular delivery and installation	43,949		4,519		48,468
Cost of sales:
New units	7,138		861		7,999
Rental units	2,661		4,060		6,721
Depreciation of rental equipment	39,200		4,768		43,968
Gross profit	$	92,471	$	9,013	$	101,484
Other selected data:
Adjusted EBITDA	$	80,547	$	7,007	$	87,554
Selling, general and administrative expense	$	62,627	$	7,758	$	70,385
Other depreciation and amortization	$	2,743	$	206	$	2,949
Purchases of rental equipment and refurbishments	$	58,241	$	2,974	$	61,215


	Six Months Ended June 30, 2020
(in thousands)	Modular - US		Modular - Other North America		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	347,860	$	30,635	$	378,495
Modular delivery and installation	94,830		7,880		102,710
Sales revenue:
New units	18,673		703		19,376
Rental units	8,549		3,553		12,102
Total revenues	469,912		42,771		512,683

Costs:
Cost of leasing and services:
Modular leasing	91,451		6,105		97,556
Modular delivery and installation	80,464		6,924		87,388
Cost of sales:
New units	12,167		367		12,534
Rental units	5,266		2,343		7,609
Depreciation of rental equipment	83,304		8,138		91,442
Gross profit	$	197,260	$	18,894	$	216,154
Other selected data:
Adjusted EBITDA	$	172,296	$	14,766	$	187,062
Selling, general and administrative expense	$	127,991	$	12,249	$	140,240
Other depreciation and amortization	$	5,581	$	376	$	5,957
Purchase of rental equipment and refurbishments	$	75,071	$	4,611	$	79,682


	Six Months Ended June 30, 2019
(in thousands)	Modular - US		Modular - Other North America		Total
Revenues
Leasing and services revenue:
Modular space leasing	$	330,711	$	32,399	$	363,110
Modular space delivery and installation	98,501		7,465		105,966
Sales:
New units	24,254		2,094		26,348
Rental units	13,211		8,763		21,974
Total Revenues	466,677		50,721		517,398

Costs
Cost of leasing and services:
Modular space leasing	94,966		7,342		102,308
Modular space delivery and installation	83,700		8,111		91,811
Cost of sales:
New units	17,388		1,489		18,877
Rental units	8,530		5,986		14,516
Depreciation of rental equipment	75,674		9,397		85,071
Gross profit	$	186,419	$	18,396	$	204,815
Other selected data:
Adjusted EBITDA	$	156,490	$	14,415	$	170,905
Selling, general and administrative expense	$	128,557	$	15,147	$	143,704
Other depreciation and amortization	$	5,317	$	416	$	5,733
Purchase of rental equipment and refurbishments	$	108,162	$	4,926	$	113,088

The following tables present a reconciliation of the Company’s income (loss) from operations before income tax to Adjusted EBITDA by segment for the three and six months ended June 30, 2020 and 2019, respectively:


	Three Months Ended June 30, 2020
(in thousands)	Modular - US		Modular - Other North America		Total
Income (loss) from operations before income taxes	$	9,950	$	2,598	$	12,548
Interest expense	28,208		311		28,519
Depreciation and amortization	44,355		4,022		48,377
Currency (gains) losses, net	70		(450)		(380)
Restructuring costs, lease impairment expense and other related charges	1,711		432		2,143
Transaction costs	1,619		—		1,619
Integration costs	2,159		(6)		2,153
Stock compensation expense	2,227		—		2,227
Other income	314		—		314
Adjusted EBITDA	$	90,613	$	6,907	$	97,520


	Three Months Ended June 30, 2019
(in thousands)	Modular - US		Modular - Other North America		Total
Loss (income) from operations before income taxes	(13,473)		855		(12,618)
Loss on extinguishment of debt	7,244		—		7,244
Interest expense	31,214		454		31,668
Depreciation and amortization	41,943		4,974		46,917
Currency gains, net	(75)		(279)		(354)
Restructuring costs, lease impairment expense and other related charges	3,203		(51)		3,152
Goodwill and other impairments	268		80		348
Integration costs	7,260		982		8,242
Stock compensation expense	1,900		—		1,900
Other income	1,063		(8)		1,055
Adjusted EBITDA	$	80,547	$	7,007	$	87,554


	Six Months Ended June 30, 2020
(in thousands)	Modular - US		Modular - Other North America		Total
Income (loss) from operations before income taxes	$	5,678	$	3,986	$	9,664
Interest expense	56,136		640		56,776
Depreciation and amortization	88,885		8,514		97,399
Currency (gains) losses, net	(455)		973		518
Restructuring costs, lease impairment expense and other related charges	3,066		678		3,744
Transaction costs	11,050		—		11,050
Integration costs	3,855		(16)		3,839
Stock compensation expense	4,014		—		4,014
Other income	67		(9)		58
Adjusted EBITDA	$	172,296	$	14,766	$	187,062


	Six Months Ended June 30, 2019
(in thousands)	Modular - US		Modular - Other North America		Total
Loss (income) from operations before income taxes	$	(23,520)	$	1,251	$	(22,269)
Loss on extinguishment of debt	7,244		—		7,244
Interest expense	61,796		987		62,783
Depreciation and amortization	80,992		9,812		90,804
Currency gains, net	(205)		(465)		(670)
Restructuring costs, lease impairment expense and other related charges	7,381		512		7,893
Goodwill and other impairments	2,069		569		2,638
Integration costs	16,612		1,768		18,380
Stock compensation expense	3,190		—		3,190
Other income	931		(19)		912
Adjusted EBITDA	$	156,490	$	14,415	$	170,905

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Income (Loss) Per Share	6 Months Ended
Income (Loss) Per Share	Jun. 30, 2020
Earnings Per Share [Abstract]
Income (Loss) Per Share	Income (Loss) Per Share Basic income (loss) per share (“EPS”) is calculated by dividing net income/(loss) attributable to WillScot by the weighted average number of shares of Class A common stock outstanding during the period. The shares of Class A common stock issued as a result of the vesting of RSUs and for warrants exercised or redeemed during the three and six months ended June 30, 2020, were included in EPS based on the weighted average number of days in which they were vested and outstanding during the period. Shares of Class B common stock have no rights to dividends or distributions made by the Company and, in turn, are excluded from the EPS calculation. As contemplated by the Merger Agreement on June 30, 2020, the Sapphire Exchange was completed and all shares of Class B common stock were cancelled and Sapphire Holdings received 10,641,182 shares of Class A common stock. Diluted EPS is computed similarly to basic EPS, except that it includes the potential dilution that would occur if dilutive securities were exercised. Effects of potentially dilutive securities are presented only in periods in which they are dilutive.

Related Parties

6 Months Ended

Jun. 30, 2020

Related Parties

Related party balances included in the Company’s consolidated balance sheets at June 30, 2020 and December 31, 2019, consisted of the following:


(in thousands)	Financial statement line Item	June 30, 2020		December 31, 2019
Receivables due from affiliates	Accounts receivable, net	$	20	$	26
Amounts due to affiliates^(a)	Accrued liabilities	(2,174)		(883)
	Total related party liabilities, net	$	(2,154)	$	(857)

(a) The Company had accrued expenses of $0.0 million and $0.6 million at June 30, 2020 and December 31, 2019, respectively, included in amounts due to affiliates, related to rental equipment purchases from an entity within the Algeco Group. Two of the Company's directors also serve on the board of directors to a consulting firm with which the Company incurs professional fees.

Related party transactions included in the Company’s condensed consolidated statements of operations for the three and six months ended June 30, 2020 and 2019, respectively, consisted of the following:


		Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)	Financial statement line item	2020		2019		2020		2019
Leasing revenue from related parties	Modular leasing revenue	$	294	$	76	$	827	$	150
Consulting expense to related party^(a)	Selling, general & administrative expenses	(2,158)		(229)		(2,996)		(501)
	Total related party expense, net	$	(1,864)	$	(153)	$	(2,169)	$	(351)

(a) Two of the Company's directors also serve on the board of directors to a consulting firm with which the Company incurs professional fees.

On August 22, 2018, WillScot’s majority stockholder, Sapphire Holdings, entered into a margin loan (the "Margin Loan") under which all of its WillScot Class A common stock was pledged to secure $125.0 million of borrowings under the loan agreement. WillScot is not a party to the loan agreement and has no obligations thereunder, but WillScot delivered an issuer agreement to the lenders under which WillScot has agreed to certain obligations relating to the shares pledged by Sapphire Holdings and, subject to applicable law and stock exchange rules, not to take any actions that are intended to materially hinder or delay the exercise of any remedies with respect to the pledged shares. In connection with the Margin Loan, on August 24, 2018, WSII entered into a two-year supply agreement with Target Logistics Management LLC, an affiliate controlled by Sapphire Holdings, under which, subject to limited exceptions, WSII acquired the exclusive right to supply modular units, portable storage units, and other ancillary products ordered by the affiliate in the US. As of June 30, 2020, the 59,708,536 shares of WillScot Class A common stock pledged by Sapphire Holdings represented approximately 49% of WillScot’s issued and outstanding Class A shares. As of July 31, 2020, Sapphire Holdings represented approximately 26% of WIllScot Mobile Mini's issued and outstanding common stock.

On June 30, 2020, as contemplated by the Merger Agreement, and pursuant to the terms of an exercise notice delivered by Sapphire Holdings to WillScot, Sapphire Holdings exchanged each of its shares of common stock, par value $0.0001, of Holdings, pursuant to that certain existing exchange agreement, between WillScot and Sapphire Holdings, for 1.3261 shares of newly issued Class A Common Stock (the “Sapphire Exchange”). As a result of the Sapphire Exchange, all issued and outstanding shares of WillScot’s Class B common stock, par value $0.0001 per share (the “Class B Common Stock”), were automatically canceled for no consideration and the existing exchange agreement was automatically terminated.

As a result of the Sapphire Exchange, Holdings became a wholly-owned subsidiary of WillScot. Sapphire Holdings received 10,641,182 shares of Class A Common Stock in the Sapphire Exchange (the “Exchange Shares”).

The Company had capital expenditures of rental equipment purchased from related party affiliates of $1.4 million and $1.7 million for three months ended June 30, 2020 and 2019, respectively. The Company had capital expenditures of rental equipment purchased from related party affiliates of $1.6 million and $3.2 million for six months ended June 30, 2020 and 2019, respectively.

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 27, 2020, the Company announced the redemption of $49.0 million of its 2023 Senior Notes. The redemption will take place on August 11, 2020, at a redemption price equal to 103% plus accrued and unpaid interest. On August 7, 2020, the Board approved a stock repurchase program that authorizes the Company, to deploy up to $250 million of its outstanding shares of common stock. The stock repurchase program does not obligate the Company to purchase any particular number of shares, and the timing and exact amount of any repurchases will depend on various factors, including market pricing and conditions, business, legal, accounting and other considerations. The Company plans to repurchase its shares in open market transactions from time to time or through privately negotiated transactions in accordance with federal securities laws, at the Company’s discretion. The repurchase program, which has no expiration date, may be increased, suspended or terminated at any time. The program is expected to be implemented over the course of several years and will be conducted subject to the covenants in the agreements governing our indebtedness.

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Quarterly Report on Form 10-Q and do not include all the information and notes required by GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements comprise the financial statements of WillScot and its subsidiaries that it controls due to ownership of a majority voting interest and contain all adjustments, which are of a normal and recurring nature, necessary to present fairly the financial position, the results of operations and cash flows for the interim periods presented. On December 31, 2019, the 2019 financial statement amounts were adjusted for the adoption Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) ("ASC 842"), effective retroactively to January 1, 2019, and therefore may not agree to the Quarterly Reports filed on Form 10-Q for the respective periods of 2019.
Principles of Consolidation	Subsidiaries are fully consolidated from the date of acquisition, being the date on which the Company obtains control, and continue to be consolidated until the date when such control ceases. The financial statements of the subsidiaries are prepared for the same reporting period as the Company. All intercompany balances and transactions are eliminated.
Recently Issued and Adopted Accounting Standards	Recently Issued Accounting Standards In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, Reference Rate Reform (Topic 848), which is elective, and provides for optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The Company is currently evaluating the impact of reference rate reform and potential impact of adoption of these elective practical expedients on its condensed consolidated financial statements and will consider the impact of adoption during its analysis. Recently Adopted Accounting Standards In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) ("ASC 326"), which prescribes that financial assets (or a group of financial assets) should be measured at amortized cost basis to be presented at the net amount expected to be collected based on relevant historical information from historical experience, adjusted for current conditions and reasonable and supportable forecasts that affect collectability. Credit losses relating to these financial assets are recorded through an allowance for credit losses. The Company adopted ASC 326 effective January 1, 2020. The effect of this guidance was immaterial to the Company's consolidated results of operations, financial position and cash flows.
Impact of COVID-19	Impact of COVID-19 On January 30, 2020, the World Health Organization declared an outbreak of a highly contagious form of an upper respiratory infection caused by COVID-19, a novel coronavirus strain commonly referred to as “coronavirus”. The Company was deemed an essential infrastructure business and has continued to supply its customers. There have been significant changes to the global economic situation and to public securities markets as a consequence of the COVID-19 pandemic. If these conditions persist, it is reasonably likely that this could cause changes to estimates as a result of the markets in which the Company operates, the price of the Company’s publicly traded equity and debt in comparison to the Company’s carrying value, and the health of the global economy. Such changes to estimates could potentially result in impacts that would be material to the consolidated financial statements, particularly with respect to the fair value of the Company’s reporting units in relation to potential goodwill impairment, the fair value of long-lived assets in relation to potential impairment and the allowance for doubtful accounts.

Revenue (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The Company had total revenue in the following geographic areas for the three and six months ended June 30 as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)	2020		2019		2020		2019
US	$	237,613	$	238,087	$	472,941	$	469,554
Canada	16,279		21,405		32,985		39,599
Mexico	2,970		4,221		6,757		8,245
Total revenues	$	256,862	$	263,713	$	512,683	$	517,398

The Company’s revenue by major product and service line for the three and six months ended June 30 was as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
(in thousands)	Total		Total		Total		Total
Modular space leasing revenue	$	132,377	$	129,475	$	263,775	$	253,025
Portable storage leasing revenue	5,716		6,021		11,565		12,262
VAPS^(a)	42,421		39,669		83,423		77,061
Other leasing-related revenue^(b)	9,629		10,653		19,732		20,762
Modular leasing revenue	190,143		185,818		378,495		363,110
Modular delivery and installation revenue	51,640		55,966		102,710		105,966
Total leasing and services revenue	241,783		241,784		481,205		469,076
New unit sales revenue	9,763		11,507		19,376		26,348
Rental unit sales revenue	5,316		10,422		12,102		21,974
Total revenues	$	256,862	$	263,713	$	512,683	$	517,398

(b) Primarily damage billings, delinquent payment charges, and other processing fees.

Schedule of Accounts and Notes Receivable Allowances


(in thousands)	Six Months Ended June 30, 2020				Year Ended December 31, 2019
Balance at beginning of year	$	15,828			$	9,340
Net charges to bad debt expense and revenue	9,122				14,496
Write-offs			(5,573)				(7,945)
Foreign currency translation and other			(194)				(63)
Balance at end of period			$	19,183			$	15,828

Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Lessee, Operating Lease, Liability, Maturity

As of June 30, 2020, the undiscounted future lease payments for operating lease liabilities were as follows:


	(in thousands)
2020	$	19,748
2021	36,770
2022	30,487
2023	24,353
2024	19,141
Thereafter	53,540
Total lease payments	184,039
Less: interest	(36,442)
Present value of lease liabilities	$	147,597

Lease Activity

The Company’s lease activity during the six months ended June 30, 2020 and 2019 was as follows:


	Six Months Ended June 30,
Financial Statement Line (in thousands)	2020				2019
Operating Lease Expense
Fixed lease expense
Cost of leasing and services			$	3,074			$	3,559
Selling, general and administrative			16,866				16,820
Lease impairment expense and other related charges			1,359				533
Short-term lease expense
Cost of leasing and services			13,603				14,708
Selling, general and administrative			851				1,382
Lease impairment expense and other related charges			466				—
Variable lease expense
Cost of leasing and services			3,657				1,359
Selling, general and administrative			2,131				2,085
Lease impairment expense and other related charges			511				—
Total operating lease expense	$	42,518			$	40,446

Supplemental cash flow information related to operating leases for the six months ended June 30, 2020 was as follows:


	Six Months ended June 30,
Supplemental Cash Flow Information (in thousands)	2020		2019
Cash paid for the amounts included in the measurement of lease liabilities	$	20,271	$	19,692
Right of use assets obtained in exchange for lease obligations	$	19,242	$	16,160

Weighted-Average Remaining Operating Lease Term and Weighted Average Discount Rate

Weighted-average remaining operating lease terms and the weighted average discount rates as of June 30, 2020 and December 31, 2019 were as follows:

Lease Terms and Discount Rates

June 30,
2020

December 31, 2019

Weighted-average remaining lease term

6.41 years

6.51 years

Weighted-average discount rate

6.9

7.0

Rental Equipment, net (Tables)

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Schedule of Rental Equipment, net

Rental equipment, net, at the respective balance sheet dates consisted of the following:


(in thousands)	June 30, 2020		December 31, 2019
Modular units and portable storage	$	2,476,963	$	2,455,471
Value added products	130,886		121,855
Total rental equipment	2,607,849		2,577,326
Less: accumulated depreciation	(699,550)		(632,890)
Rental equipment, net	$	1,908,299	$	1,944,436

Goodwill (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill activity

Changes in the carrying amount of goodwill were as follows:


(in thousands)	Modular – US		Modular – Other North America		Total
Balance at December 31, 2018	$	213,264	$	33,753	$	247,017
Changes to preliminary purchase price accounting	(9,331)		(4,148)		(13,479)
Effects of movements in foreign exchange rates	—		1,639		1,639
Balance at December 31, 2019	203,933		31,244		235,177
Effects of movements in foreign exchange rates	—		(1,348)		(1,348)
Balance at June 30, 2020	$	203,933	$	29,896	$	233,829

Intangible (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Intangible assets other than goodwill at the respective balance sheet dates consisted of the following:


	June 30, 2020
(in thousands)	Remaining life (in years)	Gross carrying amount		Accumulated amortization		Net book value
Intangible assets subject to amortization:
ModSpace trade name	1.2	$	3,000	$	(1,875)	$	1,125

Indefinite-lived intangible assets:
Trade name		125,000		—		125,000
Total intangible assets other than goodwill		$	128,000	$	(1,875)	$	126,125


	December 31, 2019
(in thousands)	Remaining life (in years)	Gross carrying amount		Accumulated amortization		Net book value
Intangible assets subject to amortization:
ModSpace trade name	1.7	$	3,000	$	(1,375)	$	1,625

Indefinite-lived intangible assets:
Trade names		125,000		—		125,000
Total intangible assets other than goodwill		$	128,000	$	(1,375)	$	126,625

Schedule of Intangible Assets

Intangible assets other than goodwill at the respective balance sheet dates consisted of the following:


	June 30, 2020
(in thousands)	Remaining life (in years)	Gross carrying amount		Accumulated amortization		Net book value
Intangible assets subject to amortization:
ModSpace trade name	1.2	$	3,000	$	(1,875)	$	1,125

Indefinite-lived intangible assets:
Trade name		125,000		—		125,000
Total intangible assets other than goodwill		$	128,000	$	(1,875)	$	126,125


	December 31, 2019
(in thousands)	Remaining life (in years)	Gross carrying amount		Accumulated amortization		Net book value
Intangible assets subject to amortization:
ModSpace trade name	1.7	$	3,000	$	(1,375)	$	1,625

Indefinite-lived intangible assets:
Trade names		125,000		—		125,000
Total intangible assets other than goodwill		$	128,000	$	(1,375)	$	126,625

Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of Debt

The carrying value of debt outstanding at the respective balance sheet dates consisted of the following:


(in thousands, except rates)	Interest rate	Year of maturity	June 30, 2020		December 31, 2019
2022 Secured Notes	7.875%	2022	265,398		264,576
US ABL Facility	Varies	2022	850,925		885,245
Canadian ABL Facility (a)	Varies	2022	—		—
2023 Secured Notes	6.875%	2023	483,643		482,768
2025 Senior Notes	6.125%	2025	636,442		—
Total debt			$	2,236,408	$	1,632,589
Less: Current portion			265,398		—
Total long-term debt			$	1,971,010	$	1,632,589

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Equity (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive loss ("AOCL"), net of tax, for the six months ended June 30, 2020 and 2019 were as follows:


(in thousands)	Foreign Currency Translation		Unrealized losses on hedging activities		Total
Balance at December 31, 2019	$	(52,982)	$	(9,793)	$	(62,775)
Total other comprehensive loss prior to reclassifications	(21,144)		(10,330)		(31,474)
Reclassifications to the statements of operations	—		1,572		1,572
Less other comprehensive loss attributable to non-controlling interest	1,913		790		2,703
Balance at March 31, 2020	(72,213)		(17,761)		(89,974)
Total other comprehensive income (loss) prior to reclassifications	7,982		(1,642)		6,340
Reclassifications to the statements of operations	—		2,617		2,617
Less other comprehensive income attributable to non-controlling interest	(730)		(88)		(818)
Impact of elimination of non-controlling interest on accumulated other comprehensive income	(1,299)		(1,673)		(2,972)
Balance at June 30, 2020	$	(66,260)	$	(18,547)	$	(84,807)


(in thousands)	Foreign Currency Translation		Unrealized losses on hedging activities		Total
Balance at December 31, 2018	$	(62,608)	$	(5,418)	$	(68,026)
Total other comprehensive income (loss) prior to reclassifications	4,115		(2,636)		1,479
Reclassifications to statements of operations	—		435		435
Less other comprehensive loss (income) attributable to non-controlling interest	(364)		198		(166)
Balance at March 31, 2019	(58,857)		(7,421)		(66,278)
Total other comprehensive income (loss) prior to reclassifications	4,321		(4,500)		(179)
Reclassifications from AOCI to income	—		613		613
Less other comprehensive loss (income) attributable to non-controlling interest	(397)		351		(46)
Balance at June 30, 2019	$	(54,933)	$	(10,957)	$	(65,890)

Fair Value Measures (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Carrying Amounts and Fair Values of Financial Assets and Liabilities

The following table shows the carrying amounts and fair values of financial assets and liabilities, including their levels in the fair value hierarchy:


	June 30, 2020														December 31, 2019
	Carrying Amount		Fair Value										Carrying Amount		Fair Value
(in thousands)					Level 1		Level 2		Level 3						Level 1		Level 2	Level 3
US ABL Facility	$	850,925	$	—	$	865,000	$	—	$	885,245	$	—	$	903,000	$	—
Canadian ABL Facility	—		—		—		—		—		—		—		—
2022 Secured Notes	265,398		—		281,003		—		264,576		—		282,250		—
2023 Secured Notes	483,643		—		505,754		—		482,768		—		517,334		—
2025 Secured Notes	636,442		—		664,788		—		—		—		—		—
Total	$	2,236,408	$	—	$	2,316,545	$	—	$	1,632,589	$	—	$	1,702,584	$	—

Restructuring (Tables)

6 Months Ended

Jun. 30, 2020

Restructuring and Related Activities [Abstract]

Summary of Activities in the Restructuring Accruals

The following is a summary of the activity in the Company’s restructuring accruals for the three and six months ended June 30, 2020 and 2019:


	Three Months Ended June 30,
(in thousands)	2020										2019
	Employee Costs		Facility Exit Costs		Total		Employee Costs		Facility Exit Costs		Total
Balance at beginning of the period - March 31, 2020	$	168	$	—	$	168	$	2,847	$	38	$	2,885
Reclassification of liability to operating lease asset at the adoption of ASC 842(a)	—		—		—		—		(476)		(476)
Charges	743		5		748		123		1,509		1,632
Cash payments	(387)		—		(387)		(1,704)		—		(1,704)
Foreign currency translation	1		—		1		5		—		5
Non-cash movements	—		(5)		(5)		(128)		(1,071)		(1,199)
Balance at end of period	$	525	$	—	$	525	$	1,143	$	—	$	1,143


	Six Months Ended June 30,
(in thousands)	2020										2019
	Employee Costs		Facility Exit Costs		Total		Employee Costs		Facility Exit Costs		Total
Balance at beginning of the period - December 31, 2020	$	447	$	—	$	447	$	4,544	$	972	$	5,516
Reclassification of liability to operating lease asset at the adoption of ASC 842(a)	—		—		—		—		(1,415)		(1,415)
Charges	671		17		688		1,630		1,658		3,288
Cash payments	(594)		—		(594)		(4,932)		—		(4,932)
Foreign currency translation	1		—		1		29		—		29
Non-cash movements	—		(17)		(17)		(128)		(1,215)		(1,343)
Balance at end of period	$	525	$	—	$	525	$	1,143	$	—	$	1,143

Derivatives (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Instruments Designated as Hedges in the Consolidated Balance Sheet

The location and the fair value of derivative instruments designated as hedges, at the respective balance sheet dates, were as follows:


(in thousands)	Balance Sheet Location	June 30, 2020		December 31, 2019
Cash Flow Hedges:
Interest rate swap	Accrued liabilities	$	11,181	$	5,348
Interest rate swap	Other long-term liabilities	$	11,170	$	8,943

Schedule of Impact of Interest Rate Swap on Other Comprehensive Income, AOCI and Statement of Operations


(in thousands)	2020		2019
Loss recognized in OCI	$	(7,783)	$	(7,951)
Location of loss recognized in income	Interest expense		Interest expense
Loss reclassified from AOCI into income (effective portion)	$	(4,189)	$	(1,181)

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables set forth certain information regarding each of the Company’s reportable segments for the three and six months ended June 30, 2020 and 2019, respectively.


	Three Months Ended June 30, 2020
(in thousands)	Modular - US		Modular - Other North America		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	175,285	$	14,858	$	190,143
Modular delivery and installation	47,213		4,427		51,640
Sales revenue:
New units	9,406		357		9,763
Rental units	4,144		1,172		5,316
Total revenues	236,048		20,814		256,862

Costs:
Cost of leasing and services:
Modular leasing	44,567		3,180		47,747
Modular delivery and installation	39,758		3,765		43,523
Cost of sales:
New units	6,160		171		6,331
Rental units	2,961		842		3,803
Depreciation of rental equipment	41,651		3,843		45,494
Gross profit	$	100,951	$	9,013	$	109,964
Other selected data:
Adjusted EBITDA	$	90,613	$	6,907	$	97,520
Selling, general and administrative expense	$	59,328	$	5,944	$	65,272
Other depreciation and amortization	$	2,704	$	179	$	2,883
Purchases of rental equipment and refurbishments	$	38,065	$	1,969	$	40,034


	Three Months Ended June 30, 2019
(in thousands)	Modular - US		Modular - Other North America		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	168,826	$	16,992	$	185,818
Modular delivery and installation	52,495		3,471		55,966
Sales revenue:
New units	10,293		1,214		11,507
Rental units	4,888		5,534		10,422
Total revenues	236,502		27,211		263,713

Costs:
Cost of leasing and services:
Modular leasing	51,083		3,990		55,073
Modular delivery and installation	43,949		4,519		48,468
Cost of sales:
New units	7,138		861		7,999
Rental units	2,661		4,060		6,721
Depreciation of rental equipment	39,200		4,768		43,968
Gross profit	$	92,471	$	9,013	$	101,484
Other selected data:
Adjusted EBITDA	$	80,547	$	7,007	$	87,554
Selling, general and administrative expense	$	62,627	$	7,758	$	70,385
Other depreciation and amortization	$	2,743	$	206	$	2,949
Purchases of rental equipment and refurbishments	$	58,241	$	2,974	$	61,215


	Six Months Ended June 30, 2020
(in thousands)	Modular - US		Modular - Other North America		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	347,860	$	30,635	$	378,495
Modular delivery and installation	94,830		7,880		102,710
Sales revenue:
New units	18,673		703		19,376
Rental units	8,549		3,553		12,102
Total revenues	469,912		42,771		512,683

Costs:
Cost of leasing and services:
Modular leasing	91,451		6,105		97,556
Modular delivery and installation	80,464		6,924		87,388
Cost of sales:
New units	12,167		367		12,534
Rental units	5,266		2,343		7,609
Depreciation of rental equipment	83,304		8,138		91,442
Gross profit	$	197,260	$	18,894	$	216,154
Other selected data:
Adjusted EBITDA	$	172,296	$	14,766	$	187,062
Selling, general and administrative expense	$	127,991	$	12,249	$	140,240
Other depreciation and amortization	$	5,581	$	376	$	5,957
Purchase of rental equipment and refurbishments	$	75,071	$	4,611	$	79,682


	Six Months Ended June 30, 2019
(in thousands)	Modular - US		Modular - Other North America		Total
Revenues
Leasing and services revenue:
Modular space leasing	$	330,711	$	32,399	$	363,110
Modular space delivery and installation	98,501		7,465		105,966
Sales:
New units	24,254		2,094		26,348
Rental units	13,211		8,763		21,974
Total Revenues	466,677		50,721		517,398

Costs
Cost of leasing and services:
Modular space leasing	94,966		7,342		102,308
Modular space delivery and installation	83,700		8,111		91,811
Cost of sales:
New units	17,388		1,489		18,877
Rental units	8,530		5,986		14,516
Depreciation of rental equipment	75,674		9,397		85,071
Gross profit	$	186,419	$	18,396	$	204,815
Other selected data:
Adjusted EBITDA	$	156,490	$	14,415	$	170,905
Selling, general and administrative expense	$	128,557	$	15,147	$	143,704
Other depreciation and amortization	$	5,317	$	416	$	5,733
Purchase of rental equipment and refurbishments	$	108,162	$	4,926	$	113,088

Reconciliation of Assets from Segment to Consolidated


	Three Months Ended June 30, 2020
(in thousands)	Modular - US		Modular - Other North America		Total
Income (loss) from operations before income taxes	$	9,950	$	2,598	$	12,548
Interest expense	28,208		311		28,519
Depreciation and amortization	44,355		4,022		48,377
Currency (gains) losses, net	70		(450)		(380)
Restructuring costs, lease impairment expense and other related charges	1,711		432		2,143
Transaction costs	1,619		—		1,619
Integration costs	2,159		(6)		2,153
Stock compensation expense	2,227		—		2,227
Other income	314		—		314
Adjusted EBITDA	$	90,613	$	6,907	$	97,520


	Three Months Ended June 30, 2019
(in thousands)	Modular - US		Modular - Other North America		Total
Loss (income) from operations before income taxes	(13,473)		855		(12,618)
Loss on extinguishment of debt	7,244		—		7,244
Interest expense	31,214		454		31,668
Depreciation and amortization	41,943		4,974		46,917
Currency gains, net	(75)		(279)		(354)
Restructuring costs, lease impairment expense and other related charges	3,203		(51)		3,152
Goodwill and other impairments	268		80		348
Integration costs	7,260		982		8,242
Stock compensation expense	1,900		—		1,900
Other income	1,063		(8)		1,055
Adjusted EBITDA	$	80,547	$	7,007	$	87,554

Related Parties (Tables)

6 Months Ended

Jun. 30, 2020

Related party balances included in the Company’s consolidated balance sheets at June 30, 2020 and December 31, 2019, consisted of the following:


(in thousands)	Financial statement line Item	June 30, 2020		December 31, 2019
Receivables due from affiliates	Accounts receivable, net	$	20	$	26
Amounts due to affiliates^(a)	Accrued liabilities	(2,174)		(883)
	Total related party liabilities, net	$	(2,154)	$	(857)


		Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)	Financial statement line item	2020		2019		2020		2019
Leasing revenue from related parties	Modular leasing revenue	$	294	$	76	$	827	$	150
Consulting expense to related party^(a)	Selling, general & administrative expenses	(2,158)		(229)		(2,996)		(501)
	Total related party expense, net	$	(1,864)	$	(153)	$	(2,169)	$	(351)

(a) Two of the Company's directors also serve on the board of directors to a consulting firm with which the Company incurs professional fees.

Summary of Significant Accounting Policies Narrative (Details)	Jun. 30, 2020 $ / shares shares
Accounting Policies [Abstract]
Common stock par value (in USD per share) \| $ / shares	$ 0.0001
Shares issued for conversion (in shares) \| shares	10,641,182

Acquisitions and Related Financing Transactions (Details) - USD ($)		3 Months Ended		6 Months Ended
	Jul. 02, 2020	Sep. 30, 2020	Jun. 30, 2020	Jun. 30, 2020	Jul. 31, 2020	Jul. 01, 2020	Jun. 15, 2020
Business Acquisition [Line Items]
Common stock par value (in USD per share)			$ 0.0001	$ 0.0001
Subsequent Event
Business Acquisition [Line Items]
Common stock par value (in USD per share)					$ 0.0001	$ 0.0001
Common stock outstanding (in shares)					227,721,220
2025 Senior Notes \| Senior Notes
Business Acquisition [Line Items]
Debt, face amount							$ 650,000,000.0
Interest rate			6.125%	6.125%			6.125%
Debt premium							$ 5,100,000
Restricted cash							$ 655,100,000
New ABL Facility \| Line of Credit \| Revolving Credit Facility \| Subsequent Event
Business Acquisition [Line Items]
Maximum aggregate availability						$ 2,400,000,000
Proceeds from issuance of debt	$ 1,470,000,000
Payment of debt issuance fees	$ 36,000,000
New ABL Facility \| Line of Credit \| Revolving Credit Facility \| LIBOR \| US Dollars \| Subsequent Event
Business Acquisition [Line Items]
Variable rate basis	1.875%
New ABL Facility \| Line of Credit \| Revolving Credit Facility \| LIBOR \| British Pounds \| Subsequent Event
Business Acquisition [Line Items]
Variable rate basis	1.875%
New ABL Facility \| Line of Credit \| Revolving Credit Facility \| Base Rate \| US Dollars \| Subsequent Event
Business Acquisition [Line Items]
Variable rate basis	0.875%
New ABL Facility \| Line of Credit \| Revolving Credit Facility \| Banker's Acceptance Rate \| Canadian Dollars \| Subsequent Event
Business Acquisition [Line Items]
Variable rate basis	1.875%
New ABL Facility \| Line of Credit \| Revolving Credit Facility \| Prime Rate \| Canadian Dollars \| Subsequent Event
Business Acquisition [Line Items]
Variable rate basis	0.875%
New US ABL Facility \| Line of Credit \| Revolving Credit Facility \| Subsequent Event
Business Acquisition [Line Items]
Maximum aggregate availability						2,000,000,000
Senior Secured Asset-Based Multicurrency Facility \| Line of Credit \| Revolving Credit Facility \| Subsequent Event
Business Acquisition [Line Items]
Maximum aggregate availability						$ 400,000,000
Mobile Mini, Inc. \| Subsequent Event
Business Acquisition [Line Items]
Common stock par value (in USD per share)						$ 0.01
Mobile Mini, Inc.
Business Acquisition [Line Items]
Transaction costs			$ 1,600,000	$ 11,000,000.0
Mobile Mini, Inc. \| Subsequent Event
Business Acquisition [Line Items]
Number of shares converted into WillScot Class A common stock (in shares)	2.4050
Value of shares converted from acquiree's shares (in USD per share)	$ 12.53
Value of shares converted from acquiree's shares	$ 1,400,000,000
Mobile Mini, Inc. \| Forecast
Business Acquisition [Line Items]
Transaction costs		$ 51,000,000
Mobile Mini, Inc. \| Common Stock \| Subsequent Event
Business Acquisition [Line Items]
Number of shares converted from acquiree's shares (in shares)	106,000,000

Revenue - Revenue Disaggregation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Total revenues	$ 256,862	$ 263,713	$ 512,683	$ 517,398
US
Disaggregation of Revenue [Line Items]
Total revenues	237,613	238,087	472,941	469,554
Canada
Disaggregation of Revenue [Line Items]
Total revenues	16,279	21,405	32,985	39,599
Mexico
Disaggregation of Revenue [Line Items]
Total revenues	2,970	4,221	6,757	8,245
Modular space leasing revenue
Disaggregation of Revenue [Line Items]
Total revenues	132,377	129,475	263,775	253,025
Portable storage leasing revenue
Disaggregation of Revenue [Line Items]
Total revenues	5,716	6,021	11,565	12,262
VAPS
Disaggregation of Revenue [Line Items]
Total revenues	42,421	39,669	83,423	77,061
Other leasing-related revenue
Disaggregation of Revenue [Line Items]
Total revenues	9,629	10,653	19,732	20,762
Modular leasing revenue
Disaggregation of Revenue [Line Items]
Total revenues	190,143	185,818	378,495	363,110
Modular delivery and installation revenue
Disaggregation of Revenue [Line Items]
Total revenues	51,640	55,966	102,710	105,966
Total leasing and services revenue
Disaggregation of Revenue [Line Items]
Total revenues	241,783	241,784	481,205	469,076
New units
Disaggregation of Revenue [Line Items]
Total revenues	9,763	11,507	19,376	26,348
Rental units
Disaggregation of Revenue [Line Items]
Total revenues	5,316	10,422	12,102	21,974
VAPS service
Disaggregation of Revenue [Line Items]
Total revenues	$ 4,300	$ 4,100	$ 8,300	$ 7,900

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 47.1		$ 47.1		$ 42.6
Previously deferred revenue recognized	$ 9.2
Receivables \| Credit Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage			4.70%
Modular Leasing \| Revenues \| Revenue Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	72.00%	69.00%	72.00%	69.00%

Revenue - Rollforward of Accounts and Notes Receivable, Allowance (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Balance at beginning of year	$ 15,828	$ 9,340
Net charges to bad debt expense and revenue	9,122	14,496
Write-offs	(5,573)	(7,945)
Foreign currency translation and other	(194)	(63)
Balance at end of period	$ 19,183	$ 15,828

Leases - Operating Lease Maturity (Details) $ in Thousands	Jun. 30, 2020 USD ($)
Leases [Abstract]
2020	$ 19,748
2021	36,770
2022	30,487
2023	24,353
2024	19,141
Thereafter	53,540
Total lease payments	184,039
Less: interest	(36,442)
Present value of lease liabilities	$ 147,597

Leases - Lease Cost (Details) - USD ($) $ in Thousands	6 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Lessee, Lease, Description [Line Items]
Total operating lease expense	$ 42,518	$ 40,446
Cost of leasing and services
Lessee, Lease, Description [Line Items]
Fixed lease expense	3,074	3,559
Short-term lease expense	13,603	14,708
Variable lease expense	3,657	1,359
Selling, general and administrative
Lessee, Lease, Description [Line Items]
Fixed lease expense	16,866	16,820
Short-term lease expense	851	1,382
Variable lease expense	2,131	2,085
Lease impairment expense and other related charges
Lessee, Lease, Description [Line Items]
Fixed lease expense	1,359	533
Short-term lease expense	466	0
Variable lease expense	$ 511	$ 0

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Lease impairment expense and other related charges	$ 1,394	$ 1,520	$ 3,055	$ 4,605
Impairment charges and loss on lease exit			800
Closed location rent expense			2,300	500
Impairment on right of use assets			$ 57	2,439
Loss on lease exit				$ 1,700

Leases - Supplemental Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Cash paid for the amounts included in the measurement of lease liabilities	$ 20,271	$ 19,692
Right of use assets obtained in exchange for lease obligations	$ 19,242	$ 16,160

Leases - Lease Terms and Discount Rates (Details)	Jun. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Weighted-average remaining lease term	6 years 4 months 28 days	6 years 6 months 3 days
Weighted-average discount rate	6.90%	7.00%

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 14,800	$ 15,400

Rental Equipment, net (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Modular units and portable storage
Property, Plant and Equipment [Line Items]
Total rental equipment	$ 2,476,963	$ 2,455,471
Value added products
Property, Plant and Equipment [Line Items]
Total rental equipment	130,886	121,855
Rental Equipment, net
Property, Plant and Equipment [Line Items]
Total rental equipment	2,607,849	2,577,326
Less: accumulated depreciation	(699,550)	(632,890)
Rental equipment, net	$ 1,908,299	$ 1,944,436

Goodwill - Goodwill Activity (Details) - USD ($)	6 Months Ended	12 Months Ended
Goodwill - Goodwill Activity (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 235,177,000	$ 247,017,000
Changes to preliminary purchase price accounting		(13,479,000)
Effects of movements in foreign exchange rates	(1,348,000)	1,639,000
Goodwill, end of period	233,829,000	235,177,000
Goodwill impairment loss	0	0
Modular – US
Goodwill [Roll Forward]
Goodwill, beginning of period	203,933,000	213,264,000
Changes to preliminary purchase price accounting		(9,331,000)
Effects of movements in foreign exchange rates	0	0
Goodwill, end of period	203,933,000	203,933,000
Modular – Other North America
Goodwill [Roll Forward]
Goodwill, beginning of period	31,244,000	33,753,000
Changes to preliminary purchase price accounting		(4,148,000)
Effects of movements in foreign exchange rates	(1,348,000)	1,639,000
Goodwill, end of period	$ 29,896,000	$ 31,244,000

Intangibles - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Intangible assets subject to amortization:
Accumulated amortization	$ (1,875)	$ (1,375)
Indefinite-lived intangible assets:
Gross carrying amount	128,000	128,000
Net book value	$ 126,125	$ 126,625
ModSpace trade name
Intangible assets subject to amortization:
Remaining life (in years)	1 year 2 months 12 days	1 year 8 months 12 days
Gross carrying amount	$ 3,000	$ 3,000
Accumulated amortization	(1,875)	(1,375)
Net book value	1,125	1,625
ModSpace trade name
Indefinite-lived intangible assets:
Indefinite-lived intangible assets	$ 125,000	$ 125,000

Intangibles - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
Intangibles - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2020	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 0.5	$ 0.5

Debt - Carrying Value of Debt Outstanding (Details) - USD ($)	Jun. 30, 2020	Jun. 15, 2020	Dec. 31, 2019	Aug. 06, 2018	Nov. 29, 2017
Debt Instrument [Line Items]
Long-term debt	$ 2,236,408,000		$ 1,632,589,000
Less: Current portion	265,398,000		0
Total long-term debt	$ 1,971,010,000		1,632,589,000
Senior Notes \| 2022 Secured Notes
Debt Instrument [Line Items]
Interest rate	7.875%				7.875%
Long-term debt	$ 265,398,000		264,576,000
Debt issuance costs	$ 4,600,000		5,400,000
Senior Notes \| 2023 Secured Notes
Debt Instrument [Line Items]
Interest rate	6.875%			6.875%
Long-term debt	$ 483,643,000		482,768,000
Senior Notes \| 2025 Senior Notes
Debt Instrument [Line Items]
Interest rate	6.125%	6.125%
Long-term debt	$ 636,442,000		0
Debt issuance costs	13,600,000	$ 13,600,000
Line of Credit \| US ABL Facility
Debt Instrument [Line Items]
Debt issuance costs	14,100,000		17,800,000
Line of Credit \| US ABL Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	850,925,000		885,245,000
Line of Credit \| Canadian ABL Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	0		0
Debt issuance costs	1,600,000		2,100,000
Line of Credit \| Canadian ABL Facility \| Revolving Credit Facility \| Other Non-current Assets
Debt Instrument [Line Items]
Debt issuance costs	$ 1,600,000		$ 2,100,000

Debt - Additional Information (Details) - USD ($)				3 Months Ended		6 Months Ended
Debt - Additional Information (Details) - USD ($)	Jul. 27, 2020	Jul. 02, 2020	Jun. 19, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 15, 2020	Dec. 31, 2019	May 14, 2019	Aug. 06, 2018	Nov. 29, 2017
Debt Instrument [Line Items]
Loss on extinguishment of debt				$ 0	$ 7,244,000	$ 0	$ 7,244,000
Line of Credit \| ABL Facility
Debt Instrument [Line Items]
Letters of credit amount outstanding				10,400,000		10,400,000			$ 10,400,000
Line of Credit \| US ABL Facility
Debt Instrument [Line Items]
Unamortized debt issuance costs				$ 14,100,000		$ 14,100,000			17,800,000
Senior Notes \| 2022 Secured Notes
Debt Instrument [Line Items]
Debt, face amount												$ 270,000,000.0
Interest rate				7.875%		7.875%						7.875%
Unamortized debt issuance costs				$ 4,600,000		$ 4,600,000			5,400,000
Senior Notes \| 2022 Secured Notes \| Subsequent Event
Debt Instrument [Line Items]
Early redemption premium		$ 10,600,000
Senior Notes \| 2023 Secured Notes
Debt Instrument [Line Items]
Debt issuance costs and debt discount				$ 6,400,000		$ 6,400,000			7,200,000
Debt, face amount											$ 300,000,000.0
Interest rate				6.875%		6.875%					6.875%
Senior Notes \| 2023 Secured Notes \| Subsequent Event
Debt Instrument [Line Items]
Redemption premium	103.00%
Senior Notes \| 2023 Senior Secured Notes, Tack-on Offering
Debt Instrument [Line Items]
Debt, face amount										$ 190,000,000.0
Unamortized debt issuance costs										3,000,000.0
Debt premium										$ 500,000
Senior Notes \| 2023 Senior Unsecured Notes
Debt Instrument [Line Items]
Outstanding principal			$ 200,000,000.0
Redemption premium			102.00%
Make-whole premium			1.126%
Loss on extinguishment of debt			$ 7,200,000
Early redemption premium			6,200,000
Write-off of unamortized deferred financing fees			$ 1,000,000.0
Senior Notes \| 2025 Senior Notes
Debt Instrument [Line Items]
Debt, face amount								$ 650,000,000.0
Interest rate				6.125%		6.125%		6.125%
Unamortized debt issuance costs				$ 13,600,000		$ 13,600,000		$ 13,600,000
Debt premium								$ 5,100,000
Revolving Credit Facility \| Line of Credit \| ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability				1,425,000,000		1,425,000,000
Accordion feature				375,000,000.0		375,000,000.0
Current borrowing capacity				$ 1,416,000,000		$ 1,416,000,000
Weighted average interest rate for borrowings				2.70%		2.70%
Weighted average interest rate for borrowings after interest rate swap agreements				4.03%		4.03%
Available borrowing capacity				$ 540,500,000		$ 540,500,000			509,100,000
Outstanding principal				865,000,000.0		865,000,000.0			903,000,000.0
Debt issuance costs and debt discount				14,100,000		14,100,000			17,800,000
Revolving Credit Facility \| Line of Credit \| US ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability				1,285,000,000		1,285,000,000
Available borrowing capacity				409,600,000		409,600,000			369,300,000
Revolving Credit Facility \| Line of Credit \| Canadian ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability				140,000,000.0		140,000,000.0
Available borrowing capacity				130,900,000		130,900,000			139,800,000
Unamortized debt issuance costs				$ 1,600,000		$ 1,600,000			$ 2,100,000
Letter of Credit \| Line of Credit \| ABL Facility
Debt Instrument [Line Items]
Commitment fee						2.625%

Equity - Narrative (Details) - USD ($)				1 Months Ended		3 Months Ended				6 Months Ended
Equity - Narrative (Details) - USD ($)	Jul. 02, 2020	Jun. 30, 2020	Feb. 27, 2020	Feb. 24, 2020	Jan. 24, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Jul. 31, 2020	Jul. 01, 2020	Dec. 31, 2019
Subsidiary, Sale of Stock [Line Items]
Common stock par value (in USD per share)		$ 0.0001				$ 0.0001				$ 0.0001
Shares issued for each share converted (in shares)		1.3261
Shares issued for conversion (in shares)		10,641,182
Shares issued for conversion						$ 0
Shares issued during period (in shares)										12,414,378
Number of shares which can be exchanged per warrant (in shares)		1				1				1
Reclassifications to consolidated statement of operations						$ (2,617,000)	$ (1,572,000)	$ (613,000)	$ (435,000)
Subsequent Event
Subsidiary, Sale of Stock [Line Items]
Common stock par value (in USD per share)												$ 0.0001	$ 0.0001
Common stock outstanding (in shares)												227,721,220
Mobile Mini, Inc. \| Subsequent Event
Subsidiary, Sale of Stock [Line Items]
Shares issued for merger (in shares)	106,428,908
Class B Common Stock
Subsidiary, Sale of Stock [Line Items]
Common stock par value (in USD per share)		$ 0.0001				$ 0.0001				$ 0.0001				$ 0.0001
Common stock outstanding (in shares)		0				0				0				8,024,419
WS Holdings
Subsidiary, Sale of Stock [Line Items]
Common stock par value (in USD per share)		$ 0.0001				$ 0.0001				$ 0.0001
Public Warrants
Subsidiary, Sale of Stock [Line Items]
Warrants exercised (in shares)			38,509	5,836,048	796,610
Proceeds from warrant exercises					$ 4,600,000
Common stock issued in warrant exercises and redemptions (in shares)				1,097,162	398,305
Warrant redemption price (in USD per share)			$ 0.01
2018 Warrants
Subsidiary, Sale of Stock [Line Items]
Warrants exercise price (in USD per share)		$ 15.50				$ 15.50				$ 15.50
Warrants outstanding (in shares)		9,782,106				9,782,106				9,782,106
2015 Warrants
Subsidiary, Sale of Stock [Line Items]
Warrants exercise price (in USD per share)		$ 5.75				$ 5.75				$ 5.75
Warrants outstanding (in shares)		17,561,700				17,561,700				17,561,700
Number of shares which can be exchanged per warrant (in shares)		0.5				0.5				0.5
Interest Rate Swap \| Interest expense, net
Subsidiary, Sale of Stock [Line Items]
Reclassifications to consolidated statement of operations										$ 4,200,000	$ 1,200,000
Unrealized losses on hedging activities
Subsidiary, Sale of Stock [Line Items]
Reclassifications to consolidated statement of operations						$ (2,617,000)	$ (1,572,000)	(613,000)	$ (435,000)
Unrealized losses on hedging activities \| Interest Rate Swap
Subsidiary, Sale of Stock [Line Items]
Reclassifications to consolidated statement of operations, tax expense (benefit)						0		$ (1,200,000)		$ 0	$ (1,900,000)
Additional Paid-in-Capital
Subsidiary, Sale of Stock [Line Items]
Shares issued for conversion		$ 66,900,000				66,890,000
Non-Controlling Interest
Subsidiary, Sale of Stock [Line Items]
Shares issued for conversion		(63,900,000)				(63,918,000)
Accumulated Other Comprehensive Loss
Subsidiary, Sale of Stock [Line Items]
Shares issued for conversion		$ (3,000,000.0)				$ (2,972,000)

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 681,073	$ 708,955	$ 700,289	$ 702,197	$ 708,955	$ 702,197
Total other comprehensive income (loss) prior to reclassifications	6,340	(31,474)	(179)	1,479
Reclassifications to the statements of operations	2,617	1,572	613	435
Less other comprehensive loss (income) attributable to non-controlling interest	(818)	2,703	(46)	(166)
Impact of elimination of non-controlling interest on accumulated other comprehensive income	(2,972)
Ending Balance	705,090	681,073	691,186	700,289	705,090	691,186
Interest Rate Swap \| Interest expense, net
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassifications to the statements of operations					(4,200)	(1,200)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(72,213)	(52,982)	(58,857)	(62,608)	(52,982)	(62,608)
Total other comprehensive income (loss) prior to reclassifications	7,982	(21,144)	4,321	4,115
Reclassifications to the statements of operations	0	0	0	0
Less other comprehensive loss (income) attributable to non-controlling interest	(730)	1,913	(397)	(364)
Impact of elimination of non-controlling interest on accumulated other comprehensive income	(1,299)
Ending Balance	(66,260)	(72,213)	(54,933)	(58,857)	(66,260)	(54,933)
Unrealized losses on hedging activities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(17,761)	(9,793)	(7,421)	(5,418)	(9,793)	(5,418)
Total other comprehensive income (loss) prior to reclassifications	(1,642)	(10,330)	(4,500)	(2,636)
Reclassifications to the statements of operations	2,617	1,572	613	435
Less other comprehensive loss (income) attributable to non-controlling interest	(88)	790	351	198
Impact of elimination of non-controlling interest on accumulated other comprehensive income	(1,673)
Ending Balance	(18,547)	(17,761)	(10,957)	(7,421)	(18,547)	(10,957)
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(89,974)	(62,775)	(66,278)	(68,026)	(62,775)	(68,026)
Ending Balance	$ (84,807)	$ (89,974)	$ (65,890)	$ (66,278)	$ (84,807)	$ (65,890)

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ (285)	$ (1,180)	$ 505	$ (802)
Effective tax rate	(2.30%)	9.40%	5.20%	3.60%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Fair Value Measures (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 15, 2020	Dec. 31, 2019
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	$ 2,236,408		$ 1,632,589
Fair Value \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	0		0
Fair Value \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	2,316,545		1,702,584
Fair Value \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	0		0
US ABL Facility \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unamortized debt issuance costs	14,100		17,800
US ABL Facility \| Carrying Amount \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	850,925		885,245
US ABL Facility \| Fair Value \| Level 1 \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0		0
US ABL Facility \| Fair Value \| Level 2 \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	865,000		903,000
US ABL Facility \| Fair Value \| Level 3 \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0		0
Canadian ABL Facility \| Carrying Amount \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0		0
Canadian ABL Facility \| Fair Value \| Level 1 \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0		0
Canadian ABL Facility \| Fair Value \| Level 2 \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0		0
Canadian ABL Facility \| Fair Value \| Level 3 \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0		0
2022 Secured Notes \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unamortized debt issuance costs	4,600		5,400
2022 Secured Notes \| Carrying Amount \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	265,398		264,576
2022 Secured Notes \| Fair Value \| Level 1 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0		0
2022 Secured Notes \| Fair Value \| Level 2 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	281,003		282,250
2022 Secured Notes \| Fair Value \| Level 3 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0		0
2023 Secured Notes \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unamortized debt issuance costs	6,400		7,200
2023 Secured Notes \| Carrying Amount \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	483,643		482,768
2023 Secured Notes \| Fair Value \| Level 1 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0		0
2023 Secured Notes \| Fair Value \| Level 2 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	505,754		517,334
2023 Secured Notes \| Fair Value \| Level 3 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0		0
2025 Senior Notes \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unamortized debt issuance costs	13,600	$ 13,600
2025 Senior Notes \| Carrying Amount \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	636,442		0
2025 Senior Notes \| Fair Value \| Level 1 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0		0
2025 Senior Notes \| Fair Value \| Level 2 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	664,788		0
2025 Senior Notes \| Fair Value \| Level 3 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 0		$ 0

Restructuring - Summary of Activities in the Restructuring Accruals (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restructuring Reserve [Roll Forward]
Balance at beginning of the period - March 31, 2020	$ 168	$ 2,885	$ 447	$ 5,516
Reclassification of liability to operating lease asset at the adoption of ASC 842	0	(476)	0	(1,415)
Charges	749	1,632	689	3,288
Cash payments	(387)	(1,704)	(594)	(4,932)
Foreign currency translation	1	5	1	29
Non-cash movements	(5)	(1,199)	(17)	(1,343)
Balance at end of period	525	1,143	525	1,143
Employee Costs
Restructuring Reserve [Roll Forward]
Balance at beginning of the period - March 31, 2020	168	2,847	447	4,544
Reclassification of liability to operating lease asset at the adoption of ASC 842	0	0	0	0
Charges	743	123	671	1,630
Cash payments	(387)	(1,704)	(594)	(4,932)
Foreign currency translation	1	5	1	29
Non-cash movements	0	(128)	0	(128)
Balance at end of period	525	1,143	525	1,143
Facility Exit Costs
Restructuring Reserve [Roll Forward]
Balance at beginning of the period - March 31, 2020	0	38	0	972
Reclassification of liability to operating lease asset at the adoption of ASC 842	0	(476)	0	(1,415)
Charges	5	1,509	17	1,658
Cash payments	0	0	0	0
Foreign currency translation	0	0	0	0
Non-cash movements	(5)	(1,071)	(17)	(1,215)
Balance at end of period	$ 0	$ 0	$ 0	$ 0

Restructuring - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 749	$ 1,632	$ 689	$ 3,288
Operating Segments \| Modular – US
Restructuring Cost and Reserve [Line Items]
Restructuring costs	600	1,700	600	2,900
Operating Segments \| Modular – Other North America
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 100	$ (100)	$ 100	$ 400

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	Jul. 02, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options vested (in shares)				133,547
Shares issued for share-based compensation (in shares)				238,927
Numbers of shares withheld for taxes (in shares)				84,751
Nonvested options outstanding (in shares)		253,328		253,328
Nonvested options weighted average grant date fair value (in USD per share)		$ 5.51		$ 5.51
Stock compensation expense		$ 2,227	$ 1,900	$ 4,014	$ 3,190
Unrecognized compensation expense for options		$ 1,300		$ 1,300
Time-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards granted (in shares)				174,020
Number of awards vested (in shares)				323,678
Number of awards forfeited (in shares)				15,106
Nonvested awards outstanding (in shares)		900,541		900,541
Nonvested awards weighted average grant date fair value (in USD per share)		$ 13.49		$ 13.49
Stock compensation expense		$ 1,200	1,200	$ 2,200	1,900
Compensation expense for awards, associated tax benefits				0	200
Unrecognized compensation expense for awards		$ 10,800		$ 10,800
Unrecognized compensation expense, period for recognition				2 years 6 months
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards granted (in shares)				65,959
Number of awards vested (in shares)				52,755
Nonvested awards outstanding (in shares)		65,959		65,959
Nonvested awards weighted average grant date fair value (in USD per share)		$ 11.75		$ 11.75
Stock compensation expense		$ 300	200	$ 500	500
Compensation expense for awards, associated tax benefits				0	100
Unrecognized compensation expense for awards		$ 700		$ 700
Unrecognized compensation expense, period for recognition				10 months 24 days
Market-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards granted (in shares)				202,923
Number of awards forfeited (in shares)				12,700
Nonvested awards outstanding (in shares)		478,504		478,504
Nonvested awards weighted average grant date fair value (in USD per share)		$ 14.71		$ 14.71
Stock compensation expense		$ 600	300	$ 900	400
Compensation expense for awards, associated tax benefits				0	100
Unrecognized compensation expense for awards		5,100		$ 5,100
Unrecognized compensation expense, period for recognition				2 years 1 month 6 days
Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense		$ 200	$ 200	$ 400	400
Compensation expense for awards, associated tax benefits				$ 0	$ 100
Unrecognized compensation expense, period for recognition				1 year 8 months 12 days
Performance Share Units \| 2020 Incentive Award Plan \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards granted (in shares)	122,332
Restricted Stock Units \| 2020 Incentive Award Plan \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards granted (in shares)	458,841

Derivatives - Narrative (Details) - Interest Rate Swap - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Notational amount	$ 400,000,000.0
Fixed rate	3.06%
Receive rate	0.18%	1.74%

Derivatives - Location and Fair Value of Derivative Instruments Designated as Hedges in the Consolidated Balance Sheet (Details) - Interest Rate Swap - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Derivative [Line Items]
Accrued liabilities	$ 11,181	$ 5,348
Other long-term liabilities	$ 11,170	$ 8,943

Derivative Instruments and Hedging Activities - Impact of Interest Rate Swap (Details) - Interest Rate Swap - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Loss recognized in OCI	$ (7,783)	$ (7,951)
Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Loss reclassified from AOCI into income (effective portion)	$ (4,189)	$ (1,181)

Commitments and Contingencies (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments for the acquisition of rental equipment and property, plant and equipment	$ 4.7	$ 4.5

Segment Reporting - Narrative (Details)	6 Months Ended
Segment Reporting - Narrative (Details)	Jun. 30, 2020 business_line segment
Segment Reporting [Abstract]
Number of business lines \| business_line	1
Number of operating segments \| segment	2

Segment Reporting - Segment Reporting and Geographic Areas (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Modular leasing	$ 190,143	$ 185,818	$ 378,495	$ 363,110
Total revenues	256,862	263,713	512,683	517,398
Costs:
Modular leasing	47,747	55,073	97,556	102,308
Depreciation of rental equipment	45,494	43,968	91,442	85,071
Gross Profit	109,964	101,484	216,154	204,815
Other selected data:
Adjusted EBITDA	97,520	87,554	187,062	170,905
Selling, general and administrative expense	65,272	70,385	140,240	143,704
Other depreciation and amortization	2,883	2,949	5,957	5,733
Purchases of rental equipment and refurbishments	40,034	61,215	79,682	113,088
Modular delivery and installation
Revenues:
Revenues	51,640	55,966	102,710	105,966
Costs:
Cost of sales	43,523	48,468	87,388	91,811
New units
Revenues:
Revenues	9,763	11,507	19,376	26,348
Total revenues	9,763	11,507	19,376	26,348
Costs:
Cost of sales	6,331	7,999	12,534	18,877
Rental units
Revenues:
Revenues	5,316	10,422	12,102	21,974
Total revenues	5,316	10,422	12,102	21,974
Costs:
Cost of sales	3,803	6,721	7,609	14,516
Modular – US \| Operating Segments
Revenues:
Modular leasing	175,285	168,826	347,860	330,711
Total revenues	236,048	236,502	469,912	466,677
Costs:
Modular leasing	44,567	51,083	91,451	94,966
Depreciation of rental equipment	41,651	39,200	83,304	75,674
Gross Profit	100,951	92,471	197,260	186,419
Other selected data:
Adjusted EBITDA	90,613	80,547	172,296	156,490
Selling, general and administrative expense	59,328	62,627	127,991	128,557
Other depreciation and amortization	2,704	2,743	5,581	5,317
Purchases of rental equipment and refurbishments	38,065	58,241	75,071	108,162
Modular – US \| Operating Segments \| Modular delivery and installation
Revenues:
Revenues	47,213	52,495	94,830	98,501
Costs:
Cost of sales	39,758	43,949	80,464	83,700
Modular – US \| Operating Segments \| New units
Revenues:
Revenues	9,406	10,293	18,673	24,254
Costs:
Cost of sales	6,160	7,138	12,167	17,388
Modular – US \| Operating Segments \| Rental units
Revenues:
Revenues	4,144	4,888	8,549	13,211
Costs:
Cost of sales	2,961	2,661	5,266	8,530
Modular – Other North America \| Operating Segments
Revenues:
Modular leasing	14,858	16,992	30,635	32,399
Total revenues	20,814	27,211	42,771	50,721
Costs:
Modular leasing	3,180	3,990	6,105	7,342
Depreciation of rental equipment	3,843	4,768	8,138	9,397
Gross Profit	9,013	9,013	18,894	18,396
Other selected data:
Adjusted EBITDA	6,907	7,007	14,766	14,415
Selling, general and administrative expense	5,944	7,758	12,249	15,147
Other depreciation and amortization	179	206	376	416
Purchases of rental equipment and refurbishments	1,969	2,974	4,611	4,926
Modular – Other North America \| Operating Segments \| Modular delivery and installation
Revenues:
Revenues	4,427	3,471	7,880	7,465
Costs:
Cost of sales	3,765	4,519	6,924	8,111
Modular – Other North America \| Operating Segments \| New units
Revenues:
Revenues	357	1,214	703	2,094
Costs:
Cost of sales	171	861	367	1,489
Modular – Other North America \| Operating Segments \| Rental units
Revenues:
Revenues	1,172	5,534	3,553	8,763
Costs:
Cost of sales	$ 842	$ 4,060	$ 2,343	$ 5,986

Segment Reporting - Reconciliation of Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Income (loss) from operations before income tax	$ 12,548	$ (12,618)	$ 9,664	$ (22,269)
Loss on extinguishment of debt	0	7,244	0	7,244
Interest expense	28,519	31,668	56,776	62,783
Depreciation and amortization	48,377	46,917	97,399	90,804
Currency losses (gains), net	(380)	(354)	518	(670)
Restructuring costs, lease impairment expense and other related charges	2,143	3,152	3,744	7,893
Goodwill and other impairments		348		2,638
Transaction costs	1,619		11,050
Integration costs	2,153	8,242	3,839	18,380
Stock compensation expense	2,227	1,900	4,014	3,190
Other income	314	1,055	58	912
Adjusted EBITDA	97,520	87,554	187,062	170,905
Operating Segments \| Modular – US
Segment Reporting Information [Line Items]
Income (loss) from operations before income tax	9,950	(13,473)	5,678	(23,520)
Loss on extinguishment of debt		7,244		7,244
Interest expense	28,208	31,214	56,136	61,796
Depreciation and amortization	44,355	41,943	88,885	80,992
Currency losses (gains), net	70	(75)	(455)	(205)
Restructuring costs, lease impairment expense and other related charges	1,711	3,203	3,066	7,381
Goodwill and other impairments		268		2,069
Transaction costs	1,619		11,050
Integration costs	2,159	7,260	3,855	16,612
Stock compensation expense	2,227	1,900	4,014	3,190
Other income	314	1,063	67	931
Adjusted EBITDA	90,613	80,547	172,296	156,490
Operating Segments \| Modular – Other North America
Segment Reporting Information [Line Items]
Income (loss) from operations before income tax	2,598	855	3,986	1,251
Loss on extinguishment of debt		0		0
Interest expense	311	454	640	987
Depreciation and amortization	4,022	4,974	8,514	9,812
Currency losses (gains), net	(450)	(279)	973	(465)
Restructuring costs, lease impairment expense and other related charges	432	(51)	678	512
Goodwill and other impairments		80		569
Transaction costs	0		0
Integration costs	(6)	982	(16)	1,768
Stock compensation expense	0	0	0	0
Other income	0	(8)	(9)	(19)
Adjusted EBITDA	$ 6,907	$ 7,007	$ 14,766	$ 14,415

Income (Loss) Per Share - Narrative (Details)	Jun. 30, 2020 shares
Earnings Per Share [Abstract]
Shares issued for conversion (in shares)	10,641,182

Related Parties - Related Party Balances Included in Consolidated Balance Sheet (Details) $ in Thousands	Jun. 30, 2020 USD ($)	Jun. 30, 2020 director	Jun. 30, 2020 property	Dec. 31, 2019 USD ($)
Related Party Transaction [Line Items]
Receivables due from affiliates	$ 20			$ 26
Amounts due to affiliates	(2,174)			(883)
Total related party liabilities, net	(2,154)			(857)
Affiliates \| Algeco Global
Related Party Transaction [Line Items]
Amounts due to affiliates	$ (0)			$ (600)
Director \| Consulting Firm, Professional Fees
Related Party Transaction [Line Items]
Number of directors		2	2

Related Parties - Narrative (Details) - USD ($)			3 Months Ended		6 Months Ended
Related Parties - Narrative (Details) - USD ($)	Jun. 30, 2020	Aug. 24, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jul. 31, 2020	Jul. 01, 2020	Dec. 31, 2019	Aug. 22, 2018
Related Party Transaction [Line Items]
Common stock par value (in USD per share)	$ 0.0001		$ 0.0001		$ 0.0001
Shares issued for each share converted (in shares)	1.3261
Shares issued for conversion (in shares)	10,641,182
Subsequent Event
Related Party Transaction [Line Items]
Common stock par value (in USD per share)							$ 0.0001	$ 0.0001
Class A Common Stock
Related Party Transaction [Line Items]
Common stock par value (in USD per share)	$ 0.0001		$ 0.0001		$ 0.0001				$ 0.0001
Class A Common Stock \| Sapphire Holding S.a. r.l.
Related Party Transaction [Line Items]
Percentage ownership	49.00%		49.00%		49.00%
Class A Common Stock \| Sapphire Holding S.a. r.l. \| Subsequent Event
Related Party Transaction [Line Items]
Percentage ownership							26.00%
Class B Common Stock
Related Party Transaction [Line Items]
Common stock par value (in USD per share)	$ 0.0001		$ 0.0001		$ 0.0001				$ 0.0001
WS Holdings
Related Party Transaction [Line Items]
Common stock par value (in USD per share)	$ 0.0001		$ 0.0001		$ 0.0001
Margin Loan \| Sapphire Holding S.a. r.l.
Related Party Transaction [Line Items]
Debt, face amount										$ 125,000,000.0
Margin Loan \| Sapphire Holding S.a. r.l. \| Class A Common Stock
Related Party Transaction [Line Items]
Number of shares pledged for collateral (in shares)	59,708,536		59,708,536		59,708,536
Affiliates
Related Party Transaction [Line Items]
Purchases from affiliates			$ 1,400,000	$ 1,700,000	$ 1,600,000	$ 3,200,000
Majority Shareholder
Related Party Transaction [Line Items]
Term of agreement		2 years

Related Parties - Related Party Transactions in Statement of Operations (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020 USD ($) director	Jun. 30, 2019 USD ($)	Jun. 30, 2020 USD ($) director	Jun. 30, 2019 USD ($)	Jun. 30, 2020 property
Related Party Transactions [Abstract]
Leasing revenue from related parties	$ 294	$ 76	$ 827	$ 150
Consulting expense to related party	(2,158)	(229)	(2,996)	(501)
Total related party expense, net	$ (1,864)	$ (153)	$ (2,169)	$ (351)
Consulting Firm, Professional Fees \| Director
Related Party Transaction [Line Items]
Number of directors	2		2		2

Subsequent Events (Details) - USD ($)		6 Months Ended
Subsequent Events (Details) - USD ($)	Jul. 27, 2020	Jun. 30, 2020	Jun. 30, 2019	Aug. 07, 2020
Subsequent Event [Line Items]
Repayment of borrowings		$ 92,282,000	$ 430,260,000
Subsequent Event
Subsequent Event [Line Items]
Authorized share repurchase program				$ 250,000,000
2023 Secured Notes \| Senior Notes \| Subsequent Event
Subsequent Event [Line Items]
Redemption premium	103.00%
Repayment of borrowings	$ 49,000,000.0