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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2018	Aug. 01, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q2
Entity Registrant Name	WillScot Corp
Entity Central Index Key	0001647088
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		92,644,774
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		8,024,419

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 8,181	$ 9,185
Trade receivables, net of allowances for doubtful accounts at June 30, 2018 and December 31, 2017 of $5,631 and $4,845, respectively	104,013	94,820
Raw materials and consumables	9,829	10,082
Prepaid expenses and other current assets	14,137	13,696
Total current assets	136,160	127,783
Rental equipment, net	1,075,040	1,040,146
Property, plant and equipment, net	82,361	83,666
Goodwill	33,570	28,609
Intangible assets, net	125,864	126,259
Other non-current assets	4,038	4,279
Total long-term assets	1,320,873	1,282,959
Total assets	1,457,033	1,410,742
Liabilities
Accounts payable	58,370	57,051
Accrued liabilities	45,606	48,912
Accrued interest	1,802	2,704
Deferred revenue and customer deposits	50,382	45,182
Current portion of long-term debt	1,883	1,881
Total current liabilities	158,043	155,730
Long-term debt	684,641	624,865
Deferred tax liabilities	111,924	120,865
Deferred revenue and customer deposits	6,696	5,377
Other non-current liabilities	19,109	19,355
Long-term liabilities	822,370	770,462
Total liabilities	980,413	926,192
Commitments and contingencies (see Note 12)
Additional paid-in-capital	2,123,101	2,121,926
Accumulated other comprehensive loss	(54,417)	(49,497)
Accumulated deficit	(1,640,230)	(1,636,819)
Total shareholders' equity	428,463	435,619
Non-controlling interest	48,157	48,931
Total equity	476,620	484,550
Total liabilities and equity	1,457,033	1,410,742
Class A Common Stock
Liabilities
Common stock	8	8
Class B Common Stock
Liabilities
Common stock	$ 1	$ 1

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Trade receivables, net of allowance	$ 5,631	$ 4,845
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)	84,644,774	84,644,774
Common stock outstanding (in shares)	84,644,774	84,644,774
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)	8,024,419	8,024,419
Common stock outstanding (in shares)	8,024,419	8,024,419

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Leasing and services revenue:
Modular leasing	$ 101,249	$ 72,954	$ 198,511	$ 141,941
Modular delivery and installation	31,413	22,949	57,663	41,953
Total revenues	140,333	110,077	275,084	209,398
Costs of leasing and services:
Modular leasing	27,129	21,340	54,291	40,442
Modular delivery and installation	30,127	22,339	55,648	40,472
Costs of sales:
Depreciation of rental equipment	23,470	17,474	47,315	34,194
Gross profit	54,640	39,583	105,561	77,521
Expenses:
Selling, general and administrative	47,734	31,652	92,948	64,413
Other depreciation and amortization	1,570	1,890	4,006	3,831
Restructuring costs	449	684	1,077	968
Currency losses (gains), net	572	(6,497)	1,596	(8,499)
Other (income) expense, net	(1,574)	461	(4,419)	591
Operating income	5,889	11,393	10,353	16,217
Interest expense	12,155	29,907	23,874	54,568
Interest income	0	(3,509)	0	(6,093)
Loss from continuing operations before income tax	(6,266)	(15,005)	(13,521)	(32,258)
Income tax benefit	(6,645)	(5,269)	(7,065)	(10,138)
Income (loss) from continuing operations	379	(9,736)	(6,456)	(22,120)
Income from discontinued operations, net of tax	0	3,840	0	6,045
Net income (loss)	379	(5,896)	(6,456)	(16,075)
Net income (loss) attributable to non-controlling interest, net of tax	143	0	(505)	0
Total income (loss) attributable to WSC	$ 236	$ (5,896)	$ (5,951)	$ (16,075)
Net income (loss) per share attributable to WSC – basic
Continuing operations - basic (in USD per share)	$ 0.00	$ (0.67)	$ (0.08)	$ (1.53)
Discontinued operations - basic (in USD per share)	0.00	0.26	0.00	0.42
Net (loss) income per share - basic (in USD per share)	0.00	(0.41)	(0.08)	(1.11)
Net income (loss) per share attributable to WSC – diluted
Continuing operations - diluted (in USD per share)	0.00	(0.67)	(0.08)	(1.53)
Discontinued operations - diluted (in USD per share)	0.00	0.26	0.00	0.42
Net (loss) income per share - diluted (in USD per share)	$ 0.00	$ (0.41)	$ (0.08)	$ (1.11)
Weighted average shares:
Basic (in shares)	78,432,274	14,545,833	77,814,456	14,545,833
Diluted (in shares)	82,180,086	14,545,833	77,814,456	14,545,833
Cash dividends declared per share (in USD per share)	$ 0	$ 0	$ 0	$ 0
New units
Leasing and services revenue:
Sales	$ 5,236	$ 9,396	$ 12,664	$ 14,882
Costs of sales:
Cost of sales	3,704	6,766	8,691	10,486
Rental units
Leasing and services revenue:
Sales	2,435	4,778	6,246	10,622
Costs of sales:
Cost of sales	$ 1,263	$ 2,575	$ 3,578	$ 6,283

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 379	$ (5,896)	$ (6,456)	$ (16,075)
Other comprehensive (loss) income:
Foreign currency translation adjustment, net of income tax (benefit) expense of ($93), $462, ($241) and $618 for the three and six months ended June 30, 2018 and 2017, respectively	(2,619)	3,102	(2,380)	5,783
Comprehensive loss	(2,240)	(2,794)	(8,836)	(10,292)
Comprehensive loss attributable to non-controlling interest	(150)	0	(774)	0
Total comprehensive loss attributable to WSC	$ (2,090)	$ (2,794)	$ (8,062)	$ (10,292)

Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, income tax expense (benefit)	$ (93)	$ 462	$ (241)	$ 618

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Operating Activities:
Net income (loss)	$ (6,456)	$ (16,075)
Adjustments for non-cash items:
Depreciation and amortization	51,941	53,075
Provision for doubtful accounts	2,282	2,276
Gain on sale of rental equipment and other property, plant and equipment	(7,429)	(4,237)
Interest receivable capitalized into notes due from affiliates	0	(3,915)
Amortization of debt discounts and debt issuance costs	2,522	7,326
Share based compensation expense	1,175	0
Deferred income tax benefit	(7,066)	(5,073)
Unrealized currency losses (gains)	1,378	(8,356)
Changes in operating assets and liabilities, net of effect of businesses acquired:
Trade receivables	(11,624)	(3,847)
Inventories	442	610
Prepaid and other assets	(282)	(7,715)
Accrued interest receivable	0	(3,214)
Accrued interest payable	(909)	(1,524)
Accounts payable and other accrued liabilities	(11,841)	14,099
Deferred revenue and customer deposits	4,667	694
Net cash provided by operating activities	18,800	24,124
Investing Activities:
Acquisition of a business	(24,006)	0
Proceeds from sale of rental equipment	12,033	10,622
Purchase of rental equipment and refurbishments	(64,763)	(54,223)
Lending on notes due from affiliates	0	(67,939)
Repayment of Notes Receivable from Related Parties	0	2,151
Proceeds from the sale of property, plant and equipment	681	11
Purchase of property, plant and equipment	(1,616)	(2,015)
Net cash used in investing activities	(77,671)	(111,393)
Financing Activities:
Receipts from borrowings	61,792	222,129
Receipts on borrowings from notes due to affiliates	0	75,000
Payment of financing costs	0	(10,919)
Repayment of borrowings	(3,770)	(198,580)
Principal payments on capital lease obligations	(59)	(785)
Net cash provided by financing activities	57,963	86,845
Effect of exchange rate changes on cash and cash equivalents	(96)	254
Net change in cash and cash equivalents	(1,004)	(170)
Cash and cash equivalents at the beginning of the period	9,185	6,162
Cash and cash equivalents at the end of the period	8,181	5,992
Supplemental Cash Flow Information:
Interest paid	22,004	50,404
Income taxes paid, net of refunds received	1,000	(437)
Capital expenditures accrued or payable	$ 16,828	$ 8,992

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Organization and Nature of Operations WillScot Corporation (“WSC” or along 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, whose securities are listed on The Nasdaq Capital Market, serves as the holding company for the Williams Scotsman family of companies. All of the Company’s assets and operations are owned through Williams Scotsman Holdings Corp. (“WS Holdings”). The Company operates and owns 90% of WS Holdings, and Sapphire Holding S.à r.l. (“Sapphire”), an affiliate of TDR Capital LLP (“TDR Capital”), owns the remaining 10%. The Company was originally incorporated on June 26, 2015 under the name Double Eagle Acquisition Corporation (“Double Eagle”) as a Cayman Islands exempt, special purpose acquisition company, for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. On November 29, 2017, the Company, through its subsidiary, WS Holdings, acquired all of the equity interest of Williams Scotsman International, Inc. (“WSII”), from Algeco Scotsman Global S.à r.l., (together with its subsidiaries, the “Algeco Group”). The Algeco Group is majority owned by an investment fund managed by TDR Capital. As part of the transaction (the “Business Combination”), the Company redomesticated and changed its name to WillScot Corporation. For further information on the organization of the Company, refer to the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2017. WSII engages in the leasing and sale of mobile offices, modular buildings and storage products and their delivery and installation throughout North America. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all the information and notes required by accounting principles generally accepted in the US (“GAAP”) for complete financial statements. The accompanying condensed consolidated financial statements contain all adjustments, which are of a normal and recurring nature, necessary to present fairly the financial position and the results of operations for the interim periods presented. The results of consolidated operations for the three and six months ended June 30, 2018 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 our Annual Report on Form 10-K for the year ended December 31, 2017. Principles of Consolidation The condensed consolidated financial statements comprise the financial statements of the Company and its subsidiaries that it controls due to ownership of a majority voting interest. 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 Business Combination was accounted for as a reverse recapitalization in accordance with Accounting Standard Codification (“ASC”) 805, Business Combinations. Although WSC was the indirect acquirer of WSII for legal purposes, WSII was considered the acquirer for accounting and financial reporting purposes. As a result of WSII being the accounting acquirer, the financial reports filed with the US Securities and Exchange Commission (the “SEC”) by the Company subsequent to the Business Combination are prepared “as if” WSII is the predecessor and legal successor to the Company. The historical operations of WSII are deemed to be those of the Company. Thus, the financial statements included in this report reflect (i) the historical operating results of WSII prior to the Business Combination; (ii) the combined results of the Company and WSII following the Business Combination on November 29, 2017; (iii) the assets and liabilities of WSII at their historical cost; and (iv) WSC’s equity structure for all periods presented. The recapitalization of the number of shares of common stock attributable to the purchase of WSII in connection with the Business Combination is reflected retroactively to the earliest period presented and will be utilized for calculating earnings per share in all prior periods presented. No step-up basis of intangible assets or goodwill was recorded in the Business Combination transaction consistent with the treatment of the transaction as a reverse capitalization of WSII. WSII’s remote accommodations business, which consisted of Target Logistics Management LLC (“Target Logistics”) and its subsidiaries and Chard Camp Catering Services (“Chard,” and together with Target Logistics, the “Remote Accommodations Business”), was transferred to other Algeco Group members on November 28, 2017 in a transaction under common control and was not included as part of the Business Combination. The operating results of the Remote Accommodations Business, net of tax, for the three and six months ended June 30, 2017 have been reported as discontinued operations in the condensed consolidated financial statements. Recently Issued and Adopted Accounting Standards The Company qualifies as an emerging growth company (“EGC”) as defined under the Jumpstart Our Business Startups Act (the “JOBS Act”). Using exemptions provided under the JOBS Act provided to EGCs, the Company has elected to defer compliance with new or revised financial accounting standards until a company that is not an issuer (as defined under section 2(a) of the Sarbanes-Oxley Act of 2002) is required to comply with such standards. As such, compliance dates included below pertain to non-issuers, and as permitted, early adoption dates for non-issuers are indicated. Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606), which prescribes a single comprehensive model for entities to use in the accounting for revenue arising from contracts with customers. The new guidance will supersede virtually all existing revenue guidance under GAAP and is effective for annual reporting periods beginning after December 15, 2018. Early adoption for non-public entities is permitted starting with annual reporting periods beginning after December 15, 2016. The core principle contemplated by this new standard was that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount reflecting the consideration to which the entity expects to be entitled in exchange for those goods or services. New disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers are also required. In April and May 2016, the FASB also issued clarifying updates to the new standard specifically to address certain core principles including the identification of performance obligations, licensing guidance, the assessment of the collectability criterion, the presentation of taxes collected from customers, non-cash considerations, contract modifications and completed contracts at transition. The Company is currently finalizing its evaluation of the impact that the updated guidance will have on the Company’s financial statements and related disclosures. As part of the evaluation process, the Company is holding regular meetings with key stakeholders from across the organization to discuss the impact of the standard on its existing contracts. The Company plans to adopt Topic 606 using the modified retrospective transition approach. The Company is utilizing a bottom-up approach to analyze the impact of the standard on its portfolio of contracts by reviewing the Company’s current accounting policies and practices to identify potential differences that would result from applying the requirements of the new standard to the Company’s existing revenue contracts. As part of its implementation project, the Company has prepared analysis with respect to revenue stream scoping, performed contract reviews, developed an preliminary gap analysis and evaluated the revised disclosure requirements. The Company intends to determine the preliminary impact on the Company’s financial statements during the third quarter of 2018. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). This guidance revises existing practice related to accounting for leases under ASC Topic 840, Leases (“ASC 840”) for both lessees and lessors. The new guidance requires lessees to recognize a right-of-use asset and a lease liability for virtually all of their leases (other than leases that meet the definition of a short-term lease). The lease liability will be equal to the present value of lease payments and the right-of-use asset will be based on the lease liability, subject to adjustment such as for initial direct costs. For income statement purposes, the new standard retains a dual model similar to ASC 840, requiring leases to be classified as either operating or finance. Operating leases will result in straight-line expense (similar to current accounting by lessees for operating leases under ASC 840) while finance leases will result in a front-loaded expense pattern (similar to current accounting by lessees for capital leases under ASC 840). While the new standard maintains similar accounting for lessors as under ASC 840, the new standard reflects updates to, among other things, align with certain changes to the lessee model. The new standard will be effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted for all entities. The guidance includes a number of practical expedients that the Company may elect to apply. The impact of adopting Topic 842 will depend on the Company’s lease portfolio as of the adoption date. The Company will continue to evaluate the impacts of this guidance on its financial position, results of operations, and cash flows. The Company is planning to update its systems, processes and internal controls to meet the new reporting and disclosure requirements. Recently Adopted Accounting Standards From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that are adopted by the Company as of the specified effective date. During December 2017, shortly after the Tax Cuts and Jobs Act (the “Tax Act”) was enacted, the SEC issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (“SAB 118”) which provides guidance on accounting for the Tax Act’s impact. SAB 118 provides a measurement period, which in no case should extend beyond one year from the Tax Act enactment date, during which a company acting in good faith may complete the accounting for the impacts of the Tax Act under ASC Topic 740. Per SAB 118, companies must reflect the income tax effects of the Tax Act in the reporting period in which the accounting under ASC Topic 740 is complete. To the extent the accounting for certain income tax effects of the Tax Act is incomplete, companies can determine a reasonable estimate for those effects and record a provisional estimate in the financial statements in the first reporting period in which a reasonable estimate can be determined. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 based on the provisions of the tax laws that were in effect immediately prior to the Tax Act being enacted. If a company is unable to provide a reasonable estimate of the impacts of the Tax Act in a reporting period, a provisional amount must be recorded in the first reporting period in which a reasonable estimate can be determined. As a result of the Tax Act, in 2017, the Company remeasured its net deferred tax liabilities and recognized a provisional net benefit of $28.1 million. In addition, based on information currently available, the Company recorded a provisional income tax expense of $2.4 million in 2017 related to the deemed repatriation of foreign earnings. The Company recorded a minor adjustment in 2018 to the provisional amounts recorded in its financial statements for the year ended December 31, 2017 (see Note 8) and continues to evaluate the provisions of the Tax Act including guidance from the Department of Treasury and Internal Revenue Service. Additionally, the Company expects to file its US tax return for 2017 during the fourth quarter of 2018 and any changes to the estimates used to the final tax positions for temporary differences, earnings and profits will result in adjustments of the remeasurement amounts for the Tax Act recorded as of December 31, 2017. The Company continues to evaluate the impact of the Global Low Taxed Intangible Income (“GILTI”) provision of the Tax Act. The Company is required to make an accounting policy election of either (1) treating GILTI as a current period expense when incurred or (2) factoring such amounts into the Company’s measurement of its deferred taxes. The Company has not completed its analysis and has not made a determination of its accounting policy for GILTI.

Acquisitions

6 Months Ended

Jun. 30, 2018

Business Combinations [Abstract]

Acquisitions

Tyson Acquisition

On January 3, 2018, the Company acquired all of the issued and outstanding membership interests of Onsite Space LLC (d/b/a Tyson Onsite (“Tyson”)). Tyson provided modular space rental services in the Midwest, primarily in Indiana, Illinois and Missouri. The Company expects to realize synergies and cost savings related to this acquisition as a result of purchasing and procurement economies of scale and general and administrative expense savings, particularly with respect to the consolidation of corporate related functions and elimination of redundancies. The acquisition date fair value of the consideration transferred consisted of $24.0 million in cash consideration, net of cash acquired. The transaction was fully funded by borrowings under the ABL Facility (defined in Note 6).

During the three months ended June 30, 2018, the Company recorded adjustments to the Tyson opening balance sheet, which increased rental fleet by $0.6 million and accrued liabilities by $0.2 million. This increase resulted in an equal increase in goodwill as detailed in Note 5. Increases or decreases in the estimated fair values of the net assets acquired may impact the Company’s statements of operations in future periods. The Company expects that the preliminary values assigned to the rental fleet, intangible assets, deferred tax assets and other accrued tax liabilities will be finalized during the third quarter of 2018.

Tyson results were immaterial to the condensed consolidated statements of operations for the three and six months ended June 30, 2018 and as a result, the Company is not presenting pro-forma information.

Acton Acquisition

On December 20, 2017, WSII acquired 100% of the issued and outstanding ownership interests of Acton Mobile Holdings LLC (“Acton”) for a cash purchase price of $237.1 million, subject to certain adjustments. Acton owns all of the issued and outstanding membership interests of New Acton Mobile Industries, which provided modular space and portable storage rental services across the US. WSII funded the acquisition with cash on hand and borrowings under the ABL Facility (defined in Note 6). The Company incurred $4.8 million and $7.4 million in integration fees associated the Acton acquisition within selling, general, and administrative expenses (“SG&A”) for the three and six months ended June 30, 2018, respectively.

Through June 2018, the Company recorded adjustments to the Acton opening balance sheet, which increased accrued liabilities by $2.0 million due to further evaluation of unindemnified liabilities. This increase resulted in an equal increase in goodwill as detailed in Note 5. As a result of the timing of the transaction, the purchase price allocation for the rental equipment, intangible assets, property, plant and equipment, deferred tax assets, receivables, and other accrued liabilities acquired and assumed are based on preliminary valuations and are subject to change as the Company obtains additional information during the acquisition measurement period. Increases or decreases in the estimated fair values of the net assets acquired may impact the Company’s statements of operations in future periods. The Company expects that the preliminary values assigned to the rental equipment, intangible assets, property, plant and equipment, deferred tax assets, and other accrued tax liabilities will be finalized during the one-year measurement period following the acquisition date.

The pro-forma information below has been prepared using the purchase method of accounting, giving effect to the Acton acquisition as if it had been completed on January 1, 2017 (the “pro-forma acquisition date”). The pro-forma information is not necessarily indicative of the Company’s results of operations had the acquisition been completed on the above date, nor is it necessarily indicative of the Company’s future results. The pro-forma information does not reflect any cost savings from operating efficiencies or synergies that could result from the acquisition, and also does not reflect additional revenue opportunities following the acquisition.

The table below presents unaudited pro-forma consolidated statements of operations information as if Acton had been included in the Company’s consolidated results for the six months ended June 30, 2017:



(in thousands)	Six Months Ended June 30, 2017
WSC historic revenues (a)	$	209,398
Acton historic revenues	47,388
Pro-forma revenues	$	256,786

WSC historic pretax loss (a)	$	(32,258	)
Acton historic pretax loss	(275		)
Pro-forma pretax loss	(32,533		)
Pro-forma adjustments to combined pretax loss:
Impact of fair value mark-ups/useful life changes on depreciation (b)	(1,272		)
Intangible asset amortization (c)	(354		)
Interest expense (d)	(5,431		)
Elimination of historic Acton interest (e)	2,514
Pro-forma pretax loss	(37,076		)
Income tax benefit	(11,652		)
Pro-forma loss from continuing operations	(25,424		)
Income from discontinued operations	6,045
Pro-forma net loss	$	(19,379	)

(a) Excludes historic revenues and pre-tax income from discontinued operations

(b) Depreciation of rental equipment and non-rental depreciation were adjusted for the fair value mark-ups of equipment acquired in

the Acton acquisition. The useful lives assigned to such equipment did not change significantly from the useful lives used by Acton.

(d) In connection with the Acton acquisition, the Company drew $237.1 million on the ABL Facility. As of June 30, 2018, the weighted-

average interest rate of ABL borrowings was 4.58%.

(e) Interest on Acton historic debt was eliminated.

ModSpace Acquisition

On June 21, 2018, the Company and its newly-formed acquisition subsidiary, Mason Merger Sub, Inc. (“Merger Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Modular Space Holdings Space, Inc. (“ModSpace”), a privately-owned provider of office trailers, portable storage units and modular buildings, and NANOMA LLC, solely in its capacity as the representative of the Holders (as defined therein), pursuant to which Merger Sub will merge with and into ModSpace with ModSpace as the surviving entity and continuing as an indirect subsidiary of the Company (the “ModSpace Acquisition”). Subject to potential adjustment under the Merger Agreement, the aggregate consideration payable to the sellers under the Merger Agreement consists of (i) $1,063,750,000 in cash, (ii) 6,458,500 shares of the Company’s Class A common stock and (iii) warrants to purchase an aggregate of 10,000,000 shares of the Company’s Class A common stock at an exercise price of $15.50 per share.

The ModSpace sellers who receive Class A common shares and warrants will receive customary registration rights, and will be subject to a six-month lock-up arrangement, under a registration rights agreement to be entered into on the closing date. The warrants issuable to the sellers are not redeemable and will expire on November 29, 2022.

The closing of the merger is subject to certain closing conditions, including a Canadian regulatory approval; the continuing accuracy of each party’s representations and warranties; the performance of certain obligations; and, the satisfaction of other customary conditions. The Merger Agreement may be terminated by the Company or ModSpace under certain circumstances. If the ModSpace Acquisition does not close due to the occurrence of certain regulatory events, we may be required to pay to ModSpace a $35.0 million termination fee.

The Company incurred $4.1 million in transaction costs related to the ModSpace Acquisition for the three and six months ended June 30, 2018.

Discontinued Operations

6 Months Ended

Jun. 30, 2018

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

WSII’s Remote Accommodations Business was transferred to another entity included in the Algeco Group prior to the Business Combination. WSII does not expect to have continuing involvement in the Remote Accommodations Business going forward. Historically, the Remote Accommodations Business leased rental equipment from WSII. After the Business Combination, several lease agreements for rental equipment still exist between the Company and Target Logistics. The lease revenue associated with these agreements is disclosed in Note 15.

As a result of the transactions discussed above, the Remote Accommodations segment has been reported as discontinued operations in the condensed consolidated statements of operations for the three and six months ended June 30, 2017.

Results from Discontinued Operations

Income from discontinued operations, net of tax, for the three and six months ended June 30, 2017 was as follows:



(in thousands)	Three Months Ended June 30, 2017			Six Months Ended June 30, 2017
Remote accommodations revenue	$	31,487		$	58,565
Remote accommodations costs of leasing and services	13,163			24,738
Depreciation of rental equipment	6,119			12,542
Gross profit	12,205			21,285
Selling, general and administrative expenses	3,499			6,531
Other depreciation and amortization	1,257			2,508
Restructuring costs	380			770
Other income, net	(37		)	(40		)
Operating profit	7,106			11,516
Interest expense	739			1,420
Income from discontinued operations, before income tax	6,367			10,096
Income tax expense	2,527			4,051
Income from discontinued operations, net of tax	$	3,840		$	6,045

Revenues and costs related to the Remote Accommodations Business for the three and six months ended June 30, 2017 were as follows:



(in thousands)	Three Months Ended June 30, 2017		Six Months Ended June 30, 2017
Remote accommodations revenue:
Lease revenue	$	14,613	$	28,577
Service revenue	16,874		29,988
Total remote accommodations revenue	$	31,487	$	58,565

Remote accommodation costs:
Cost of leases	$	2,023	$	4,200
Cost of services	11,140		20,538
Total remote accommodations costs	$	13,163	$	24,738

Cash flows from the Company’s discontinued operations are included in the condensed consolidated statements of cash flows. The significant cash flow items from discontinued operations for the six months ended June 30, 2017 were as follows:



(in thousands)	June 30, 2017
Depreciation and amortization	$	15,050
Capital expenditures	$	4,213

Rental Equipment, net

6 Months Ended

Jun. 30, 2018

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, 2018			December 31, 2017
Modular units and portable storage	$	1,445,769		$	1,385,901
Value added products and services	66,834			59,566
Total rental equipment	1,512,603			1,445,467
Less: accumulated depreciation	(437,563		)	(405,321		)
Rental equipment, net	$	1,075,040		$	1,040,146

During the three and six months ended June 30, 2018, the Company received $1.8 million and $9.3 million, respectively, in insurance proceeds related to assets damaged during Hurricane Harvey. The insurance proceeds exceeded the book value of damaged assets, and the Company recorded gains of $1.8 million and $4.8 million which are reflected in other (income) expense, net, on the condensed consolidated statements of operations for the three and six months ended June 30, 2018, respectively.

Goodwill

6 Months Ended

Jun. 30, 2018

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 January 1, 2017	$	—	$	56,811		$	56,811
Acquisition of a business	28,609		—			28,609
Effects of movements in foreign exchange rates	—		3,932			3,932
Impairment losses	—		(60,743		)	(60,743		)
Balance at December 31, 2017	28,609		—			28,609
Acquisition of a business	3,406		—			3,406
Changes to preliminary purchase price allocations	1,555		—			1,555
Balance at June 30, 2018	$	33,570	$	—		$	33,570

As discussed in further detail in Note 2, the Company acquired Acton in December 2017. A preliminary valuation of the acquired net assets of Acton resulted in the recognition of $28.6 million of goodwill to the Modular - US segment, as defined in Note 13, for the year ended December 31, 2017. During the three and six months ended June 30, 2018, respectively, the Company made a $1.0 million and $2.0 million adjustment to the preliminary valuation of the acquired net assets of Acton including the related goodwill, due to further evaluation of unindemnified liabilities.

Additionally, as discussed in further detail in Note 2, the Company acquired Tyson in January 2018. A preliminary valuation of the acquired net assets of Tyson resulted in the recognition of $3.4 million of goodwill in the Modular - US segment, which the Company expects will be deductible for tax purposes. During the three and six months ended June 30, 2018, the Company made a $0.4 million adjustment to the preliminary valuation of the acquired net assets of Tyson, including the related goodwill, due to further evaluation of rental equipment and property, plant and equipment, and unindemnified liabilities.

Debt

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Debt

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



(in thousands, except rates)	Interest rate	Year of maturity	June 30, 2018			December 31, 2017
Senior secured notes	7.875%	2022	$	291,456		$	290,687
US ABL Facility	Varies	2022	356,759			297,323
Canadian ABL Facility (a)	Varies	2022	—			—
Capital lease and other financing obligations			38,309			38,736
Total debt			686,524			626,746
Less: current portion of long-term debt			(1,883		)	(1,881		)
Total long-term debt			$	684,641		$	624,865


(a)	At June 30, 2018, the Company had no outstanding borrowings on the Canadian ABL Facility and $1.5 million of related debt issuance costs. As there were no principal borrowings outstanding on the Canadian ABL Facility as of December 31, 2017, $1.8 million of debt issuance costs related to that facility are included in other non-current assets on the condensed consolidated balance sheet.

ABL Facilities

Former Algeco Group Revolver

Prior to the Business Combination, WSII depended on the Algeco Group for financing, which centrally managed all treasury and cash management. In October 2012, the Algeco Group entered into a multi-currency asset-based revolving credit facility (the “Algeco Group Revolver”), which had a maximum aggregate availability of the equivalent of $1.355 billion. The maximum borrowing availability to WSII in US dollars and Canadian dollars (“CAD”) was $760.0 million and $175.0 million, respectively.

Interest expense of $8.3 million and $14.5 million million related to the Algeco Group Revolver was included in interest expense for the three and six months ended June 30, 2017.

ABL Facility

On November 29, 2017, WS Holdings, WSII and certain of its subsidiaries entered into an ABL credit agreement (the “ABL Facility”) that provides a senior secured revolving credit facility in the aggregate principal amount of up to $600.0 million. The ABL Facility, which matures on May 29, 2022, consists of (i) a $530.0 million asset-backed revolving credit facility (the “US ABL Facility”) for WSII and certain of its domestic subsidiaries (the “US Borrowers”), (ii) a $70.0 million asset-based revolving credit facility (the “Canadian ABL Facility”) for Williams Scotsman of Canada, Inc. (the “Canadian Borrower,” 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 $300.0 million, subject to the satisfaction of customary conditions, plus any voluntary prepayments that are accompanied by permanent commitment reductions under the ABL Facility.

Borrowings under the ABL Facility, at the Borrower’s option, bear interest at an adjusted LIBOR or base rate, in each case plus an applicable margin. The applicable margin is fixed at 2.50% for LIBOR borrowings and 1.50% for base rate borrowings up until March 31, 2018. Commencing on March 31, 2018, the applicable margins are subject to one step-down of 0.25% or one step-up of 0.25%, based on excess availability levels with respect to the ABL Facility. The ABL Facility requires the payment of an annual commitment fee on the unused available borrowings of between 0.375% and 0.5% per annum. At June 30, 2018, the weighted average interest rate for borrowings under the ABL Facility was 4.58%.

Borrowing availability under the US ABL Facility and the Canadian ABL Facility is equal to the lesser of (i) with respect to US Borrowers, $530.0 million and the US Borrowing Base (defined below) (the “US Line Cap”), and (ii) with respect to the Canadian Borrower, $70.0 million and the Canadian Borrowing Base (defined below) (the “Canadian Line Cap,” together with the US Line Cap, the “Line Cap”).

The US Borrowing Base is, at any time of determination, an amount (net of reserves) equal to the sum of:


•	85% of the net book value of the US Borrowers’ eligible accounts receivable, plus


•	the lesser of (i) 95% of the net book value of the US Borrowers’ eligible rental equipment and (ii) 85% of the net orderly liquidation value of the US Borrowers’ eligible rental equipment, minus


•	customary reserves.

The Canadian Borrowing Base is, at any time of determination, an amount (net of reserves) equal to the sum of:


•	85% of the net book value of the Canadian Borrowers’ eligible accounts receivable, plus


•	the lesser of (i) 95% of the net book value of the Canadian Borrowers’ eligible rental equipment and (ii) 85% of the net orderly liquidation value of the Canadian Borrowers’ eligible rental equipment, plus


•	portions of the US Borrowing Base that have been allocated to the Canadian Borrowing Base, minus


•	customary reserves.

At June 30, 2018, the Line Cap was $600.0 million and the Borrowers had $219.6 million of available borrowing capacity under the ABL Facility, including $153.1 million under the US ABL Facility and $66.5 million under the Canadian ABL Facility. At December 31, 2017, the Line Cap was $600.0 million and the Borrowers had $281.1 million of available borrowing capacity under the ABL Facility, including $211.1 million under the US ABL Facility and $70.0 million under the Canadian ABL Facility.

Borrowing capacity under the US ABL Facility is made available for up to $60.0 million of standby letters of credit and up to $50.0 million of swingline loans, and borrowing capacity under the Canadian ABL Facility is made available for up to $30.0 million of standby letters of credit, and $25.0 million of swingline loans. Letters of credit and bank guarantees carried fees of 2.625% at June 30, 2018 and December 31, 2017, respectively. The Company had issued $8.9 million of standby letters of credit under the ABL Facility at June 30, 2018 and December 31, 2017.

The ABL Facility requires the Borrowers to maintain a (i) minimum fixed charge coverage ratio of 1.00:1.00 and (ii) maximum total net leverage ratio of 5.50:1.00, in each case, at any time when the excess availability under the ABL Facility is less than the greater of (a) $50.0 million and (b) an amount equal to 10% of the Line Cap.

The ABL Facility also contains a number of customary negative covenants. Such covenants, among other things, may limit or restrict the ability of each of the Borrowers, their restricted subsidiaries, and where applicable, WS Holdings, to: incur additional indebtedness, issue disqualified stock and make guarantees; incur liens; engage in mergers or consolidations or fundamental changes; sell assets; pay dividends and repurchase capital stock; make investments, loans and advances, including acquisitions; amend organizational documents and master lease documents; enter into certain agreements that would restrict the ability to pay dividends or incur liens on assets; repay certain junior indebtedness; enter into sale and leaseback transactions; and change the conduct of its business.

The aforementioned restrictions are subject to certain exceptions including (i) the ability to incur additional indebtedness, liens, investments, dividends, and prepayments of junior indebtedness subject, in each case, to compliance with certain financial metrics and certain other conditions and (ii) a number of other traditional exceptions that grant the Borrowers continued flexibility to operate and develop their businesses. The ABL Facility also contains customary representations and warranties, affirmative covenants and events of default. The Company is in compliance with these covenants and restrictions as of June 30, 2018.

The Company had $368.0 million and $310.0 million in outstanding principal under the ABL Facility at June 30, 2018 and December 31, 2017, respectively. Debt issuance costs and discounts of $11.2 million and $12.7 million are included in the carrying value of debt at June 30, 2018 and December 31, 2017, respectively.

In July 2018, the Company and certain of its subsidiaries entered into amendments to the ABL Facility that will, among other things, (i) permit the ModSpace Acquisition (as defined in Note 16) and the financing thereof, (ii) increase the ABL Facility limit to $1.35 billion in the aggregate, and (iii) increase certain thresholds, basket sizes and default and notice triggers set forth in the ABL Facility to account for the increased size of the Company’s business following the ModSpace Acquisition. The amendments will become effective upon the closing of the ModSpace Acquisition. See Note 16 for additional information on the amendments.

Senior Secured Notes

WSII has $300.0 million aggregate principal amount of 7.875% senior secured notes due December 15, 2022 (the “Notes”) under an indenture dated November 29, 2017, which was entered into by and among WSII, the guarantors named therein, and Deutsche Bank Trust Company Americas, as trustee and as collateral agent. Interest is payable semi-annually on June 15 and December 15, beginning June 15, 2018. For the three and six months ended June 30, 2018, the Company incurred $5.9 million and $11.7 million, respectively, of interest expense related to the Notes.

Before December 15, 2019, WSII may redeem the Notes at a redemption price equal to 100% of the principal amount, plus a customary make whole premium for the Notes being redeemed, plus accrued and unpaid interest, if any, to but not including the redemption date.

The customary make whole premium, with respect to any Note on any applicable redemption date, as calculated by the Company, is the greater of (i) 100% of the then outstanding principal amount of the Note; and (ii) the excess of (a) the present value at such redemption date of (i) the redemption price set on or after December 15, 2019 plus (ii) all required interest payments due on the Note through December 15, 2019, excluding accrued but unpaid interest to the redemption date, in each case, computed using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points; over (b) the then outstanding principal amount of the Note.

Before December 15, 2019, WSII may redeem up to 40% of the aggregate principal amount of the Notes at a price equal to 107.875% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest, if any, to but not including the redemption date with the net proceeds of certain equity offerings. At any time prior to November 29, 2019, WSII may also redeem up to 10% of the aggregate principal amount of the Notes at a redemption price equal to 103% of the principal amount of the Notes being redeemed during each twelve-month period commencing with the closing date, plus accrued and unpaid interest, if any, to but not including the redemption date. If WSII undergoes a change of control or sells certain of its assets, WSII may be required to offer to repurchase the Notes.

On or after December 15, 2019, WSII, at its option, may redeem the Notes, in whole or in part, at the redemption prices expressed as percentages of principal amount set forth below, plus accrued and unpaid interest to, but not including, the applicable redemption date (subject to the right of Note holders on the relevant record date to receive interest due on an interest payment date falling on or prior to the redemption date), if redeemed during the twelve month period beginning on December 15 of each of the years set forth below:



Year	Redemption Price
2019	103.938	%
2020	101.969	%
2021 and thereafter	100.000	%

The Notes contain certain negative covenants, including limitations that may restrict WSII’s ability and the ability of certain of its subsidiaries, to directly or indirectly, create additional financial obligations. With certain specified exceptions, these negative covenants prohibit WSII and certain of its subsidiaries from: creating or incurring additional debt; paying dividends or making any other distributions with respect to its capital stock; making loans or advances to WSC or any restricted subsidiary of WSII; selling, leasing or transferring any of its property or assets to WSC or any restricted subsidiary of WSII; directly or indirectly creating, incurring or assuming any lien of any kind securing debt on the collateral; or entering into any sale and leaseback transaction.

The aforementioned restrictions are subject to certain exceptions including (i) the ability to incur additional indebtedness, liens, investments, dividends and distributions, and prepayments of junior indebtedness subject, in each case, to compliance with certain financial metrics and certain other conditions and (ii) a number of other traditional exceptions that grant the US Borrowers continued flexibility to operate and develop their businesses. The Company is in compliance with these covenants and restrictions as of June 30, 2018 and December 31, 2017.

Unamortized debt issuance costs pertaining to the Notes was $8.5 million and $9.3 million as of June 30, 2018 and December 31, 2017, respectively.

Capital Lease and Other Financing Obligations

The Company’s capital lease and financing obligations primarily consisted of $38.1 million and $38.5 million under sale-leaseback transactions and $0.2 million and $0.2 million of capital leases at June 30, 2018 and December 31, 2017, respectively. The Company’s capital lease and financing obligations are presented net of $1.7 million and $1.8 million of debt issuance costs at June 30, 2018 and December 31, 2017, respectively. The Company’s capital leases primarily relate to real estate, equipment and vehicles and have interest rates ranging from 1.2% to 11.9%.

The Company has entered into several arrangements in which it has sold branch locations and simultaneously leased the associated properties back from the various purchasers. Due to the terms of the lease agreements, these transactions are treated as financing arrangements. These transactions contain non-recourse financing which is a form of continuing involvement and precludes the use of sale-lease back accounting. The terms of the financing arrangements range from approximately eighteen months to ten years. The interest rates implicit in these financing arrangements is approximately 8.0%.

Notes Due To and From Affiliates

Prior to the Business Combination, the Algeco Group distributed borrowings from its third party notes to entities within the Algeco Group, including WSII, through intercompany loans. WSII previously recorded these intercompany loans as notes due to affiliates with maturity dates of June 30, 2018 and October 15, 2019.

Interest expense of $16.6 million and $31.3 million associated with these notes due to affiliates is reflected in interest expense in the consolidated statement of operations for the three and six months ended June 30, 2017, respectively. Interest on the notes due to affiliates was payable on a semi-annual basis.

Conversely, WSII also distributed borrowings to other entities within the Algeco Group through intercompany loans, and earned interest income on the principal. For the three and six months ended June 30, 2017, the Company recognized $3.5 million and $6.1 million, respectively, of interest income related to the loans.

In conjunction with the Business Combination, all notes due to and from affiliates were settled, and there is no related interest expense or interest income related to the notes due to or from affiliates for the three and six months ended June 30, 2018.

Equity

6 Months Ended

Jun. 30, 2018

Equity [Abstract]

Equity

Accumulated Other Comprehensive Loss

The changes in accumulated other comprehensive loss, net of tax, for the six months ended June 30, 2018 and 2017 were as follows:



(in thousands)	Foreign Currency Translation Adjustment			Total
Balance at December 31, 2017	$	(49,497	)	$	(49,497	)
Total other comprehensive loss	(2,380		)	(2,380		)
Reclassifications to accumulated deficit^(a)	(2,540		)	(2,540		)
Balance at June 30, 2018	$	(54,417	)	$	(54,417	)



(in thousands)	Foreign Currency Translation Adjustment			Total
Balance at December 31, 2016	$	(56,928	)	$	(56,928	)
Total other comprehensive loss	5,783			5,783
Balance at June 30, 2017	$	(51,145	)	$	(51,145	)

(a) In the first quarter of 2018, the Company elected to early adopt ASU 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220) - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which resulted in a discrete reclassification of $2.5 million from accumulated other comprehensive loss to accumulated deficit effective January 1, 2018.

There were no material amounts reclassified from accumulated other comprehensive loss and into consolidated net income (loss) for the three and six months ended June 30, 2018 and 2017.

Non-Controlling Interest

The changes in the non-controlling interest for the six months ended June 30, 2018 were as follows:



(in thousands)	Total
Balance at December 31, 2017	$	48,931
Net loss attributable to non-controlling interest	(505		)
Other comprehensive loss	(269		)
Balance at June 30, 2018	$	48,157

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recorded income tax benefit of approximately $6.6 million and $7.1 million for the three and six months ended June 30, 2018, respectively, and $5.3 million and $10.1 million for the same periods of 2017. The Company’s effective tax rate (“ETR”) for the three months ended June 30, 2018 and 2017 was 106.1% and 24.3%, respectively and 52.3% and 24.8% for the six months ended June 30, 2018 and 2017, respectively. The Company’s ETR for the three and six months ended June 30, 2018 is materially driven by discrete items, of which a $4.2 million tax benefit relates to a reduction in our net state deferred tax liability driven by the Maryland apportionment rule that was enacted in the second quarter. The Company’s annual ETR used to determine the tax benefit for the quarter of approximately 19.8% is lower than the US statutory rate of 21.0% due to: (1) mix of earnings between tax paying components, notably forecasted losses in Canada which result in higher tax benefit due to a higher statutory tax rate, (2) reduction to the deferred tax liability established for the book over tax basis difference for our investment in our Canadian subsidiary and offset by (3) a partial valuation allowance due to limitations on the deductibility of interest expense estimated for the current year. Due to the foregoing, changes to our forecast of pre-tax book income and the mix of earnings between tax paying components that may occur due to changes in our business in subsequent periods may have a significant effect on our annual effective tax rate and consequently, tax expense (benefit) recorded in subsequent interim periods. In addition, the Company also recognized tax benefit of $0.2 million and $0.4 million for the three and six months ended June 30, 2018, related to foreign currency losses. For the three and six months ended June 30, 2017, the Company recognized tax expense of $2.5 million and $3.1 million related to foreign currency gains. The Company also adjusted the provisional amounts for the impacts of the Tax Act under SAB 118 reported in its financial statements for the year ended December 31, 2017, with an adjustment in the current quarter due to a change in state law for a tax benefit of $0.3 million which is incremental to the $0.3 million benefit recorded in the first quarter. As noted above, the Company recorded a discrete benefit of $4.2 million in the second quarter of 2018 to reduce its net state deferred tax liability primarily related to the enactment of an apportionment rule change in Maryland.

Fair Value Measures

6 Months Ended

Jun. 30, 2018

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, trade receivables, trade payables, capital lease and other financing obligations, and other current liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.

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, 2018								December 31, 2017
	Carrying Amount		Fair Value						Carrying Amount		Fair Value
(in thousands)	Carrying Amount		Level 1		Level 2		Level 3		Carrying Amount		Level 1		Level 2		Level 3
Financial liabilities not measured at fair value
ABL Facility (see Note 6)	$	356,759	$	—	$	368,000	$	—	$	297,323	$	—	$	310,000	$	—
Notes (see Note 6)	291,456		—		312,567		—		290,687		—		310,410		—
Total	$	648,215	$	—	$	680,567	$	—	$	588,010	$	—	$	620,410	$	—

There were no transfers of financial instruments between the three levels of the fair value hierarchy during the three and six months ended June 30, 2018 and 2017. The fair value of the Company’s ABL Facility is primarily based upon observable market data such as market interest rates. The fair value of the Company’s Notes is based on their last trading price at the end of each period obtained from a third party.

- 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, 2018

Restructuring and Related Activities [Abstract]

Restructuring

The Company incurred costs associated with restructuring plans designed to streamline operations and reduce costs of $0.4 million and $0.7 million and $1.1 million and $1.0 million net of reversals, during the three and six months ended June 30, 2018 and 2017. The following is a summary of the activity in the Company’s restructuring accruals for the six months ended June 30, 2018 and 2017:



	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)	2018			2017			2018			2017
Balance at beginning of the period	$	755		$	1,726		$	227		$	1,793
Charges during the period	449			684			1,077			968
Cash payments during the period	(234		)	(286		)	(330		)	(639		)
Currency	(3		)	6			(7		)	8
Balance at end of period	$	967		$	2,130		$	967		$	2,130

The restructuring charges for the three and six months ended June 30, 2018 relate primarily to employee termination costs in connection with the integration of Acton and Tyson. As part of the restructuring plan, certain employees were required to render future service in order to receive their termination benefits. The termination costs associated with these employees was recognized over the period from the date of communication of termination to the employee to the actual date of termination. The Company anticipates that the remaining actions contemplated under the $1.0 million accrual as of June 30, 2018, will be substantially completed by the end of the fourth quarter of 2018.

The restructuring charges for the three and six months ended June 30, 2017 related to corporate employee termination costs incurred as part of the Algeco Group.

Segments

The $0.4 million and $1.1 million of restructuring charges for the three and six months ended June 30, 2018 all pertain to the Modular - US segment. The $0.7 million and $1.0 million of restructuring charges for the three and six months ended June 30, 2017 all pertain to Corporate and other.

Stock-Based Compensation

6 Months Ended

Jun. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

On November 16, 2017, the Company’s shareholders approved a long-term incentive award plan (the “Plan”). The Plan is administered by the Compensation Committee of the Company’s Board of Directors. Under the Plan, the Committee may grant an aggregate of 4,000,000 shares of Class A common stock in the form of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock awards (“RSAs”), restricted stock units (“RSUs”), performance compensation awards and stock bonus awards. Stock-based payments including the grant of stock options, RSUs, and RSAs are subject to service-based vesting requirements, and expense is recognized on a straight-line basis over the vesting period. Forfeitures are accounted for as they occur. During the six months ended June 30, 2018, 27,675 RSAs, 921,730 RSUs and 589,257 stock option awards were granted under the Plan, while 35,050 RSUs were forfeited during the three and six months ended June 30, 2018.

Stock-based payments to employees include grants of stock options and RSUs, which are recognized in the financial statements based on their fair value.

RSUs and RSAs are valued based on the intrinsic value of the difference between the exercise price, if any, of the award and the fair market value of our common stock on the grant date. RSAs vest over a one-year period and RSUs vest over a four-year period.

Stock options vest in tranches over a period of four years and expire ten years from the grant date. The fair value of each stock option award on the grant date is estimated using the Black-Scholes option-pricing model with the following assumptions: expected dividend yield, expected stock price volatility, weighted-average risk-free interest rate and weighted-average expected term of the options. The volatility assumption used in the Black-Scholes option-pricing model is based on peer group volatility as the Company does not have a sufficient trading history as a stand-alone public company. Additionally, due to an insufficient history with respect to stock option activity and post-vesting cancellations, the expected term assumption is based on the simplified method under GAAP, which is based on the vesting period and contractual term for each tranche of awards. The mid-point between the weighted-average vesting term and the expiration date is used as the expected term under this method. The risk-free interest rate used in the Black-Scholes model is based on the implied US Treasury bill yield curve at the date of grant with a remaining term equal to the Company’s expected term assumption. The Company has never declared or paid a cash dividend on common shares.

As of June 30, 2018, none of the granted RSAs, RSUs or stock options had vested.

Restricted Stock Awards

The following table summarizes the Company’s RSA activity for the six months ended June 30, 2018:



	Number of Shares	Weighted-Average Grant Date Fair Value
Balance, December 31, 2017	—	$	—
Granted	27,675	13.60
Forfeited	—	—
Balance, June 30, 2018	27,675	$	13.60

Compensation expense for RSAs recognized in SG&A on the condensed consolidated statements of operations was $0.1 million and $0.1 million for the three and six months ended June 30, 2018, respectively. At June 30, 2018, unrecognized compensation cost related to RSAs totaled $0.3 million and is expected to be recognized over the remaining nine-month period.

Restricted Stock Units

The following table summarizes the Company's RSU award activity for the six months ended June 30, 2018:



	Number of Shares		Weighted-Average Grant Date Fair Value
Balance, December 31, 2017	—		$	—
Granted	921,730		13.60
Forfeited	(35,050	)	13.60
Balance, June 30, 2018	886,680		$	13.60

Compensation expense for RSUs recognized in SG&A on the condensed consolidated statements of operations was $0.6 million and $0.8 million for the three and six months ended June 30, 2018, respectively, with associated tax benefits of $0.2 million and $0.2 million for the three and six months ended June 30, 2018, respectively. At June 30, 2018, unrecognized compensation cost related to RSUs totaled $11.2 million and is expected to be recognized over a remaining period of 3.75 years.

Stock Option Awards

The following table summarizes the Company's stock option activity for the six months ended June 30, 2018:



	Number of Options	Weighted-Average Exercise Price per Share ($)
Outstanding options, December 31, 2017	—	$	—
Granted	589,257	13.60
Exercised	—	—
Forfeited	—	—
Outstanding options, June 30, 2018	589,257	$	13.60
Fully vested and exercisable options, end of period	—	$	—

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 and six months ended June 30, 2018, respectively, with associated tax benefits of $0.0 million and $0.1 million for the three and six months ended June 30, 2018, respectively. At June 30, 2018, unrecognized compensation cost related to stock option awards totaled $3.0 million and is expected to be recognized over a remaining period of 3.75 years.

The fair value of each option award at grant date was estimated using the Black-Scholes option-pricing model with the

following assumptions:



	Assumptions
Expected volatility	36		%
Expected dividend yield	—
Risk-free interest rate	2.73		%
Expected term (in years)	6.25
Exercise price	$	13.60
Weighted-average grant date fair value	$	5.51

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and 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. As discussed in more detail in Note 2, the Merger Agreement may be terminated by the Company or ModSpace under certain circumstances. If the ModSpace Acquisition does not close due to the occurrence of certain regulatory events, we may be required to pay to ModSpace a $35.0 million termination fee.

Segment Reporting

6 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Segment Reporting

The Company historically has operated in two principal lines of business; modular leasing and sales and remote accommodations, which were managed separately. The Remote Accommodations Business was considered a single operating segment. As part of the Business Combination, the Remote Accommodations segment is no longer owned by the Company and is reported as discontinued operations in the condensed consolidated financial statements. As such, the segment was excluded from the segment information below.

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 the contiguous 48 states and Hawaii. The Other North America operating segment (“Modular - Other North America”) consists of Alaska, Canada and Mexico. Corporate and other includes eliminations of costs and revenue between segments and Algeco Group corporate costs not directly attributable to the underlying segments. Following the Business Combination, no additional Algeco Group corporate costs were incurred and the Company’s ongoing corporate costs are included within the Modular - US segment. 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.

The Company evaluates business segment performance on 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 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, 2018 and 2017, respectively:



	Three Months Ended June 30, 2018
(in thousands)	Modular - US		Modular - Other North America		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	90,965	$	10,284	$	101,249
Modular delivery and installation	27,390		4,023		31,413
Sales:
New units	4,149		1,087		5,236
Rental units	2,309		126		2,435
Total Revenues	$	124,813	$	15,520	$	140,333

Costs:
Cost of leasing and services:
Modular leasing	$	24,505	$	2,624	$	27,129
Modular delivery and installation	26,310		3,817		30,127
Cost of sales:
New units	2,876		828		3,704
Rental units	1,164		99		1,263
Depreciation of rental equipment	20,217		3,253		23,470
Gross profit	$	49,741	$	4,899	$	54,640
Adjusted EBITDA	$	38,104	$	3,812	$	41,916
Other selected data:
Selling, general and administrative expense	$	43,325	$	4,409	$	47,734
Other depreciation and amortization	$	1,354	$	216	$	1,570
Capital expenditures for rental fleet	$	30,931	$	1,748	$	32,679



	Three Months Ended June 30, 2017
(in thousands)	Modular - US		Modular - Other North America		Corporate & Other			Total
Revenues:
Leasing and services revenue:
Modular leasing	$	64,854	$	8,242	$	(142	)	$	72,954
Modular delivery and installation	20,970		1,979		—			22,949
Sales:
New units	8,550		846		—			9,396
Rental units	3,835		943		—			4,778
Total Revenues	$	98,209	$	12,010	$	(142	)	$	110,077

Costs:
Cost of leasing and services:
Modular leasing	$	19,338	$	2,002	$	—		$	21,340
Modular delivery and installation	20,393		1,946		—			22,339
Cost of sales:
New units	6,072		696		(2		)	6,766
Rental units	1,923		652		—			2,575
Depreciation of rental equipment	14,529		2,945		—			17,474
Gross profit (loss)	$	35,954	$	3,769	$	(140	)	$	39,583
Adjusted EBITDA	$	26,329	$	2,506	$	(2,588	)	$	26,247
Other selected data:
Selling, general and administrative expense	$	24,181	$	4,223	$	3,248		$	31,652
Other depreciation and amortization	$	1,301	$	244	$	345		$	1,890
Capital expenditures for rental fleet	$	25,909	$	1,716	$	—		$	27,625



	Six Months Ended June 30, 2018
(in thousands)	Modular - US		Modular - Other North America		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	178,913	$	19,598	$	198,511
Modular delivery and installation	51,360		6,303		57,663
Sales:
New units	10,964		1,700		12,664
Rental units	5,663		583		6,246
Total Revenues	$	246,900	$	28,184	$	275,084

Costs:
Cost of leasing and services:
Modular leasing	$	49,562	$	4,729	$	54,291
Modular delivery and installation	49,250		6,398		55,648
Cost of sales:					—
New units	7,442		1,249		8,691
Rental units	3,193		385		3,578
Depreciation of rental equipment	40,904		6,411		47,315
Gross profit	$	96,549	$	9,012	$	105,561
Adjusted EBITDA	$	70,716	$	6,692	$	77,408
Other selected data:
Selling, general and administrative expense	$	84,146	$	8,802	$	92,948
Other depreciation and amortization	$	3,559	$	447	$	4,006
Capital expenditures for rental fleet	$	61,455	$	3,308	$	64,763



	Six Months Ended June 30, 2017
(in thousands)	Modular - US		Modular - Other North America		Corporate & Other			Total
Revenues:
Leasing and services revenue:
Modular leasing	$	126,032	$	16,204	$	(295	)	$	141,941
Modular delivery and installation	38,324		3,629		—			41,953
Sales:
New units	12,556		2,326		—			14,882
Rental units	8,712		1,910		—			10,622
Total Revenues	$	185,624	$	24,069	$	(295	)	$	209,398

Costs:
Cost of leasing and services:
Modular leasing	$	36,713	$	3,729	$	—		$	40,442
Modular delivery and installation	37,067		3,405		—			40,472
Cost of sales:								—
New units	8,685		1,813		(12		)	10,486
Rental units	5,036		1,247		—			6,283
Depreciation of rental equipment	28,354		5,840		—			34,194
Gross profit (loss)	$	69,769	$	8,035	$	(283	)	$	77,521
Adjusted EBITDA	$	50,012	$	5,625	$	(7,444	)	$	48,193
Other selected data:
Selling, general and administrative expense	$	48,127	$	8,277	$	8,009		$	64,413
Other depreciation and amortization	$	2,639	$	491	$	701		$	3,831
Capital expenditures for rental fleet	$	47,958	$	2,344	$	—		$	50,302

The following tables present a reconciliation of the Company’s loss from continuing operations before income tax to Adjusted EBITDA by segment for the three and six months ended June 30, 2018 and 2017, respectively:



	Three Months Ended June 30, 2018
(in thousands)	Modular - US			Modular - Other North America			Total
Loss from continuing operations before income taxes	$	(5,533	)	$	(733	)	$	(6,266	)
Interest expense, net	11,663			492			12,155
Depreciation and amortization	21,571			3,469			25,040
Currency losses, net	114			458			572
Restructuring costs	449			—			449
Integration costs	4,785			—			4,785
Stock compensation expense	1,054			—			1,054
Transaction fees	4,049			69			4,118
Other (income) expense	(48		)	57			9
Adjusted EBITDA	$	38,104		$	3,812		$	41,916



	Three Months Ended June 30, 2017
(in thousands)	Modular - US			Modular - Other North America			Corporate & Other			Total
Loss from continuing operations before income taxes	$	320		$	(1,442	)	$	(13,883	)	$	(15,005	)
Interest expense, net	15,953			1,038			9,407			26,398
Depreciation and amortization	15,830			3,189			345			19,364
Currency gains, net	(5,800		)	(294		)	(403		)	(6,497		)
Restructuring costs	—			—			684			684
Transaction fees	46			—			730			776
Other expense	(20		)	15			532			527
Adjusted EBITDA	$	26,329		$	2,506		$	(2,588	)	$	26,247



	Six Months Ended June 30, 2018
(in thousands)	Modular - US			Modular - Other North America			Total
Loss from continuing operations before income taxes	$	(10,841	)	$	(2,680	)	$	(13,521	)
Interest expense, net	22,823			1,051			23,874
Depreciation and amortization	44,463			6,858			51,321
Currency losses, net	271			1,325			1,596
Restructuring costs	1,067			10			1,077
Integration costs	7,415			—			7,415
Stock compensation expense	1,175			—			1,175
Transaction fees	4,049			69			4,118
Other expense	294			59			353
Adjusted EBITDA	$	70,716		$	6,692		$	77,408



	Six Months Ended June 30, 2017
(in thousands)	Modular - US			Modular - Other North America			Corporate & Other			Total
Loss from continuing operations before income taxes	$	(5,210	)	$	(2,458	)	$	(24,590	)	$	(32,258	)
Interest expense, net	31,512			2,216			14,747			48,475
Depreciation and amortization	30,993			6,331			701			38,025
Currency gains, net	(7,399		)	(481		)	(619		)	(8,499		)
Restructuring costs	—			—			968			968
Transaction fees	46			—			816			862
Other expense	70			17			533			620
Adjusted EBITDA	$	50,012		$	5,625		$	(7,444	)	$	48,193

Income (Loss) Per Share

6 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Income (Loss) Per Share

Loss) Per Share

Basic income (loss) per share (“EPS”) is calculated by dividing net income (loss) attributable to WSC by the weighted average number of Class A common stock shares outstanding during the period. Concurrently with the Business Combination,12,425,000 of Class A shares were placed into escrow and were not entitled to vote or participate in the economic rewards available to the other Class A shareholders. On January 19, 2018, 6,212,500 shares of WSC Class A common stock were released from the escrow account. The remaining 6,212,500 shares of WSC Class A common stock in escrow are not included in the LPS calculation. In July 2018, certain contingencies were satisfied that under the earnout agreement governing the release of the escrowed shares, will result in the release of the remaining escrowed shares to Double Eagle, Harry E. Sloan and Sapphire upon the delivery of release instructions to the escrow agent.

Class B common shares have no rights to dividends or distributions made by the Company and, in turn, are excluded from the LPS calculation.

Diluted EPS is computed similarly to basic net income (loss) per share, except that it includes the potential dilution that could occur if dilutive securities were exercised. Effects of potentially dilutive securities are presented only in periods in which they are dilutive. Stock options and restricted stock units, representing 589,257 and 886,680 shares of Class A common stock outstanding for the three and six months ended June 30, 2018, were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive.

The following table is a reconciliation of net income (loss) and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted income (loss) per share for the three and six months ended June 30, 2018 and 2017:



	Three Months Ended June 30,					Six Months Ended June 30,
(in thousands, except per share numbers)	2018		2017			2018			2017
Numerator
Income (loss) from continuing operations	$	379	$	(9,736	)	$	(6,456	)	$	(22,120	)
Income from discontinued operations, net of tax	—		3,840			—			6,045
Net income (loss)	379		(5,896		)	(6,456		)	(16,075		)
Net income (loss) attributable to non-controlling interest, net of tax	143		—			(505		)	—
Total income (loss) attributable to WSC	$	236	$	(5,896	)	$	(5,951	)	$	(16,075	)

Denominator
Average shares outstanding - basic	78,432,274		14,545,833			77,814,456			14,545,833
Average effect of dilutive securities:
Warrants	3,745,030		—			—			—
Restricted stock awards	2,782		—			—			—
Average shares outstanding - diluted	$	82,180,086	$	14,545,833		$	77,814,456		$	14,545,833

Income (loss) per share - basic
Continuing operations - basic	$	0.00	$	(0.67	)	$	(0.08	)	$	(1.53	)
Discontinued operations - basic	$	0.00	$	0.26		$	0.00		$	0.42
Net income (loss) per share - basic	$	0.00	$	(0.41	)	$	(0.08	)	$	(1.11	)

Income (loss) per share - diluted
Continuing operations - basic	$	0.00	$	(0.67	)	$	(0.08	)	$	(1.53	)
Discontinued operations - basic	$	0.00	$	0.26		$	0.00		$	0.42
Net income (loss) per share - basic	$	0.00	$	(0.41	)	$	(0.08	)	$	(1.11	)

Related Parties

6 Months Ended

Jun. 30, 2018

Related Parties

Related party balances included in the Company’s consolidated balance sheet at June 30, 2018 and December 31, 2017, consisted of the following:



(in thousands)	Financial statement line Item	June 30, 2018			December 31, 2017
Receivables due from affiliates	Prepaid expenses and other current assets	$	180		$	2,863
Amounts due to affiliates	Accrued liabilities	(873		)	(1,235		)
	Total related party liabilities, net	$	(693	)	$	1,628

On November 29, 2017, in connection with the closing of the Business Combination, the Company, WSII, WS Holdings and Algeco Global entered into a transition services agreement (the “TSA”). The purpose of the TSA is to ensure an orderly transition of WSII’s business and effectuate the Business Combination. Pursuant to the TSA, each party will provide or cause to be provided to the other party or its affiliates certain services, use of facilities and other assistance on a transitional basis. The services period under the TSA ranges from six months to three years based on the services, but includes early termination clauses. The Company had $0.1 million and $2.9 million in receivables due from affiliates pertaining to the Transition Services Agreement at June 30, 2018 and December 31, 2017, respectively.

The Company accrued expenses of $0.5 million and $1.2 million at June 30, 2018 and December 31, 2017, respectively, included in amounts due to affiliates, related to rental equipment purchases from an entity within the Algeco Group.

Related party transactions included in the Company’s consolidated statement of operations for the three and six months ended June 30, 2018 and 2017, respectively, consisted of the following:



		Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)	Financial statement line item	2018			2017			2018			2017
Leasing revenue from related parties	Modular leasing revenue	$	(233	)	$	—		$	(525	)	$	—
Management fees and recharge income on transactions with affiliates	Selling, general & administrative expenses	—			1,502			—			151
Interest income on notes due from affiliates	Interest income	—			(3,509		)	—			(6,093		)
Interest expense on notes due to affiliates	Interest expense	—			15,990			—			30,727
	Total related party (income) expense, net	$	(233	)	$	13,983		$	(525	)	$	24,785

The Company had capital expenditures of rental equipment purchased from related party affiliates of $0.4 million and $0.2 million for three months ended June 30, 2018 and 2017, respectively, and $1.7 million and $0.5 million during the six months ended June 30, 2018 and 2017, respectively.

The Company paid $0.4 million and $0.0 million in professional fees to an entity, that two of the Company’s Directors also served in the same role for that entity, during the three months ended June 30, 2018 and 2017, respectively, and $1.0 million and $0.6 million during the six months ended June 30, 2018 and 2017, respectively.

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events ModSpace Acquisition As described in Note 2, on June 21, 2018, the Company entered into a definitive agreement to acquire ModSpace, a privately-owned provider of office trailers, portable storage units and modular buildings. Subject to potential adjustment under the Merger Agreement, the aggregate consideration payable by the Company to the sellers includes (i) $1,063,750,000 in cash, (ii) 6,458,500 shares of the Company’s Class A common stock and (iii) warrants to purchase an aggregate of 10,000,000 shares of the Company’s Class A common stock at an exercise price of $15.50 per share. On July 16, 2018, the Canadian Competition Bureau issued a no-action letter relating to the ModSpace Acquisition. The no-action letter satisfied the Company’s obligation under the Merger Agreement to clear Competition Bureau review under Canada’s Competition Act. The Company expects to close the acquisition in August 2018. Amended ABL Facility In July and August 2018, the Company entered into amendments to the ABL Facility that, among other things, (i) permit the ModSpace Acquisition and the Company’s financing thereof (including, without limitation, incremental borrowings under the ABL Facility and the senior unsecured notes described below), (ii) increase the ABL Facility limit to $1.35 billion in the aggregate, and increase the amount of the facility’s accordion feature to $450.0 million, and (iii) increase certain thresholds, basket sizes and default and notice triggers to account for the Company’s increased scale business following the ModSpace Acquisition. The amendments, copies of which is filed as an exhibits to this Form 10-Q, will become effective upon the closing of the ModSpace Acquisition and the satisfaction of other customary closing conditions. Under the amended ABL Facility, (i) the borrowing limits of the US ABL Facility and the Canadian ABL Facility will be $1,200.0 million and $150.0 million, respectively, (ii) the borrowing capacity for standby letters of credit under the US ABL Facility and the Canadian ABL Facility will be $75.0 million and $60.0 million, respectively, and (iii) the borrowing capacity for swingline loans under the US ABL Facility and the Canadian ABL Facility will be $75.0 million and $50.0 million, respectively. As amended, the US Line Cap will equal the lesser of $1,200.0 million and the US Borrowing Base, and the Canadian Line Cap will equal the lessor of $150.0 million and the Canadian Borrowing Base. The amended ABL Facility requires the Borrowers to maintain a (i) minimum fixed charge coverage ratio of 1.00:1.00 and (ii) maximum total net leverage ratio of 5.50:1.00, in each case, at any time when the excess availability under the amended ABL Facility is less than the greater of (a) $135.0 million and (b) an amount equal to 10% of the Line Cap. ModSpace Acquisition Financing Equity Offering On July 25, 2018, the Company entered into an underwriting agreement with certain financial institutions under which the Company agreed to sell, and the underwriters agreed to purchase, 8.0 million shares of the Company’s Class A common stock at a public offering price of $16.00 per share. The Company granted to the underwriters an option to purchase up to 1.2 million additional Class A common shares at a public offering price of $16.00 per share less the underwriting discount (which would raise an additional $19.2 million of gross proceeds for the Company). On July 30, 2018, the Company closed the underwritten public stock offering. The net offering proceeds to the Company were approximately $121.9 million. The Company plans to use the proceeds to fund the ModSpace Acquisition and to pay related fees and expenses or, if the ModSpace Acquisition is not consummated, for general corporate purposes. 2023 Senior Secured Notes On July 31, 2018, a wholly-owned subsidiary of WSII, Mason Finance Sub, Inc. (“Finance Sub”), entered into a purchase agreement with certain financial institutions under which the initial purchasers agreed to purchase $300.0 million in aggregate principal amount of 6.875% senior secured notes due 2023 (the “2023 Secured Notes”) to be issued by Finance Sub. The proceeds are expected to fund the ModSpace Acquisition and to pay related fees and expenses. The 2023 Secured Notes were offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to persons outside the United States pursuant to Regulation S under the Securities Act. On August 6, 2018, Finance Sub closed the private placement and the initial purchasers deposited $300.0 million of gross offering proceeds into an escrow account. Upon consummation of the ModSpace Acquisition and the satisfaction of other conditions, the escrowed proceeds will be released to fund a portion of the cash consideration payable by WSII in the ModSpace Acquisition and to pay related fees and expenses. Upon the closing the ModSpace Acquisition, Finance Sub will merge with and into WSII, with WSII continuing as the surviving corporation, and WSII will assume the obligations of Finance Sub under the 2023 Secured Notes and the indenture governing the notes. If the ModSpace Acquisition is not completed by a specified date or certain other events occur, the 2023 Secured Notes will be subject to a special mandatory redemption. The 2023 Secured Notes mature on August 15, 2023. The notes bear interest at a rate of 6.875% per annum, payable semi-annually on February 15 and August 15 of each year beginning February 15, 2019. WSII may redeem the 2023 Secured Notes, in whole or in part, at a redemption price equal to (i) prior to August 15, 2020, 100% of the principal amount of the notes to be redeemed plus a make-whole premium; (ii) during the period from August 15, 2020 through August 14, 2021, 103.438% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest, (iii) during the period from August 15, 2021 through August 14, 2022, 101.719% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest; and, (iv) from and after August 15, 2022, 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest. WSII may also redeem, prior to August 15, 2020, up to 40% of the principal amount of the 2023 Senior Notes at a redemption price equal to 106.875% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest, with the net proceeds of certain equity offerings. Additional information regarding the 2023 Secured Notes and the indenture governing the notes is contained in the Form 8-K filed by the Company with the SEC on August 7, 2018. 2023 Senior Unsecured Notes On July 28, 2018, the Company entered into a note purchase agreement with certain financial institutions under which the initial purchasers agreed to purchase $200.0 million in aggregate principal amount of senior unsecured notes due 2023 (the “Unsecured Notes”) to be issued by Finance Sub. The proceeds are expected to fund the ModSpace Acquisition and to pay related fees and expenses. The Unsecured Notes were offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act. On August 3, 2018, Finance Sub closed the private placement and the initial purchasers deposited $200.0 million of gross offering proceeds into an escrow account. Upon consummation of the ModSpace Acquisition and the satisfaction of other conditions, the escrowed proceeds will be released to fund a portion of the cash consideration payable by WSII in the ModSpace Acquisition and to pay related fees and expenses. Upon the closing the ModSpace Acquisition, Finance Sub will merge with and into WSII, with WSII continuing as the surviving corporation, and WSII will assume the obligations of Finance Sub under the Unsecured Notes and the indenture governing the notes. If the ModSpace Acquisition is not completed by a specified date or certain other events occur, the Unsecured Notes will be subject to a special mandatory redemption. The Unsecured Notes, which mature on November 15, 2023, will bear interest at a rate of 10.0% per annum if paid in cash (or if paid in kind, 11.5% per annum) for any interest period ending on or prior to February 15, 2021, increasing thereafter to 12.5% per annum with no paid in kind option, in each case, payable semi-annually on February 15 and August 15 of each year beginning February 15, 2019. The Unsecured Notes are not redeemable before February 15, 2019. WSII may redeem the Unsecured Notes, in whole or in part, at a redemption price equal to (i) during the period from February 15, 2019 through August 14, 2019, 100% of the principal amount of the notes to be redeemed plus a make-whole premium; (ii) during the period from August 15, 2019 through February 14, 2020, 102% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest; (iii) during the period from February 15, 2020 through February 14, 2021, 104% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest, and (iv) thereafter, 106% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest. Additional information regarding the Unsecured Notes and the indenture governing the notes is contained in the Form 8-K filed by the Company with the SEC on August 7, 2018. Warrants Delisting In February 2018, a hearings panel of The Nasdaq Stock Market LLC (“Nasdaq”) established a July 3, 2018 deadline for the Company to comply with the minimum holder requirement applicable to the Company’s warrants. On July 10, 2018, the Company was notified that its warrants would be delisted from The Nasdaq Capital Market based on the Company’s failure to satisfy a minimum holder requirement applicable to the warrants. Trading for the Company’s warrants was suspended at the opening of business on July 12, 2018, and a Form 25-NSE will be filed with the Securities and Exchange Commission to remove the warrants from listing and registration on Nasdaq.

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all the information and notes required by accounting principles generally accepted in the US (“GAAP”) for complete financial statements. The accompanying condensed consolidated financial statements contain all adjustments, which are of a normal and recurring nature, necessary to present fairly the financial position and the results of operations for the interim periods presented. The results of consolidated operations for the three and six months ended June 30, 2018 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 our Annual Report on Form 10-K for the year ended December 31, 2017.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements comprise the financial statements of the Company and its subsidiaries that it controls due to ownership of a majority voting interest. 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 Business Combination was accounted for as a reverse recapitalization in accordance with Accounting Standard Codification (“ASC”) 805, Business Combinations. Although WSC was the indirect acquirer of WSII for legal purposes, WSII was considered the acquirer for accounting and financial reporting purposes. As a result of WSII being the accounting acquirer, the financial reports filed with the US Securities and Exchange Commission (the “SEC”) by the Company subsequent to the Business Combination are prepared “as if” WSII is the predecessor and legal successor to the Company. The historical operations of WSII are deemed to be those of the Company. Thus, the financial statements included in this report reflect (i) the historical operating results of WSII prior to the Business Combination; (ii) the combined results of the Company and WSII following the Business Combination on November 29, 2017; (iii) the assets and liabilities of WSII at their historical cost; and (iv) WSC’s equity structure for all periods presented. The recapitalization of the number of shares of common stock attributable to the purchase of WSII in connection with the Business Combination is reflected retroactively to the earliest period presented and will be utilized for calculating earnings per share in all prior periods presented. No step-up basis of intangible assets or goodwill was recorded in the Business Combination transaction consistent with the treatment of the transaction as a reverse capitalization of WSII. WSII’s remote accommodations business, which consisted of Target Logistics Management LLC (“Target Logistics”) and its subsidiaries and Chard Camp Catering Services (“Chard,” and together with Target Logistics, the “Remote Accommodations Business”), was transferred to other Algeco Group members on November 28, 2017 in a transaction under common control and was not included as part of the Business Combination. The operating results of the Remote Accommodations Business, net of tax, for the three and six months ended June 30, 2017 have been reported as discontinued operations in the condensed consolidated financial statements.
Recently Issued and Adopted Accounting Standards	Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606), which prescribes a single comprehensive model for entities to use in the accounting for revenue arising from contracts with customers. The new guidance will supersede virtually all existing revenue guidance under GAAP and is effective for annual reporting periods beginning after December 15, 2018. Early adoption for non-public entities is permitted starting with annual reporting periods beginning after December 15, 2016. The core principle contemplated by this new standard was that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount reflecting the consideration to which the entity expects to be entitled in exchange for those goods or services. New disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers are also required. In April and May 2016, the FASB also issued clarifying updates to the new standard specifically to address certain core principles including the identification of performance obligations, licensing guidance, the assessment of the collectability criterion, the presentation of taxes collected from customers, non-cash considerations, contract modifications and completed contracts at transition. The Company is currently finalizing its evaluation of the impact that the updated guidance will have on the Company’s financial statements and related disclosures. As part of the evaluation process, the Company is holding regular meetings with key stakeholders from across the organization to discuss the impact of the standard on its existing contracts. The Company plans to adopt Topic 606 using the modified retrospective transition approach. The Company is utilizing a bottom-up approach to analyze the impact of the standard on its portfolio of contracts by reviewing the Company’s current accounting policies and practices to identify potential differences that would result from applying the requirements of the new standard to the Company’s existing revenue contracts. As part of its implementation project, the Company has prepared analysis with respect to revenue stream scoping, performed contract reviews, developed an preliminary gap analysis and evaluated the revised disclosure requirements. The Company intends to determine the preliminary impact on the Company’s financial statements during the third quarter of 2018. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). This guidance revises existing practice related to accounting for leases under ASC Topic 840, Leases (“ASC 840”) for both lessees and lessors. The new guidance requires lessees to recognize a right-of-use asset and a lease liability for virtually all of their leases (other than leases that meet the definition of a short-term lease). The lease liability will be equal to the present value of lease payments and the right-of-use asset will be based on the lease liability, subject to adjustment such as for initial direct costs. For income statement purposes, the new standard retains a dual model similar to ASC 840, requiring leases to be classified as either operating or finance. Operating leases will result in straight-line expense (similar to current accounting by lessees for operating leases under ASC 840) while finance leases will result in a front-loaded expense pattern (similar to current accounting by lessees for capital leases under ASC 840). While the new standard maintains similar accounting for lessors as under ASC 840, the new standard reflects updates to, among other things, align with certain changes to the lessee model. The new standard will be effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted for all entities. The guidance includes a number of practical expedients that the Company may elect to apply. The impact of adopting Topic 842 will depend on the Company’s lease portfolio as of the adoption date. The Company will continue to evaluate the impacts of this guidance on its financial position, results of operations, and cash flows. The Company is planning to update its systems, processes and internal controls to meet the new reporting and disclosure requirements. Recently Adopted Accounting Standards From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that are adopted by the Company as of the specified effective date. During December 2017, shortly after the Tax Cuts and Jobs Act (the “Tax Act”) was enacted, the SEC issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (“SAB 118”) which provides guidance on accounting for the Tax Act’s impact. SAB 118 provides a measurement period, which in no case should extend beyond one year from the Tax Act enactment date, during which a company acting in good faith may complete the accounting for the impacts of the Tax Act under ASC Topic 740. Per SAB 118, companies must reflect the income tax effects of the Tax Act in the reporting period in which the accounting under ASC Topic 740 is complete. To the extent the accounting for certain income tax effects of the Tax Act is incomplete, companies can determine a reasonable estimate for those effects and record a provisional estimate in the financial statements in the first reporting period in which a reasonable estimate can be determined. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 based on the provisions of the tax laws that were in effect immediately prior to the Tax Act being enacted. If a company is unable to provide a reasonable estimate of the impacts of the Tax Act in a reporting period, a provisional amount must be recorded in the first reporting period in which a reasonable estimate can be determined. As a result of the Tax Act, in 2017, the Company remeasured its net deferred tax liabilities and recognized a provisional net benefit of $28.1 million. In addition, based on information currently available, the Company recorded a provisional income tax expense of $2.4 million in 2017 related to the deemed repatriation of foreign earnings. The Company recorded a minor adjustment in 2018 to the provisional amounts recorded in its financial statements for the year ended December 31, 2017 (see Note 8) and continues to evaluate the provisions of the Tax Act including guidance from the Department of Treasury and Internal Revenue Service. Additionally, the Company expects to file its US tax return for 2017 during the fourth quarter of 2018 and any changes to the estimates used to the final tax positions for temporary differences, earnings and profits will result in adjustments of the remeasurement amounts for the Tax Act recorded as of December 31, 2017. The Company continues to evaluate the impact of the Global Low Taxed Intangible Income (“GILTI”) provision of the Tax Act. The Company is required to make an accounting policy election of either (1) treating GILTI as a current period expense when incurred or (2) factoring such amounts into the Company’s measurement of its deferred taxes. The Company has not completed its analysis and has not made a determination of its accounting policy for GILTI.

Acquisitions (Tables)

6 Months Ended

Jun. 30, 2018

Business Combinations [Abstract]

Business Acquisition, Pro Forma Information



(in thousands)	Six Months Ended June 30, 2017
WSC historic revenues (a)	$	209,398
Acton historic revenues	47,388
Pro-forma revenues	$	256,786

WSC historic pretax loss (a)	$	(32,258	)
Acton historic pretax loss	(275		)
Pro-forma pretax loss	(32,533		)
Pro-forma adjustments to combined pretax loss:
Impact of fair value mark-ups/useful life changes on depreciation (b)	(1,272		)
Intangible asset amortization (c)	(354		)
Interest expense (d)	(5,431		)
Elimination of historic Acton interest (e)	2,514
Pro-forma pretax loss	(37,076		)
Income tax benefit	(11,652		)
Pro-forma loss from continuing operations	(25,424		)
Income from discontinued operations	6,045
Pro-forma net loss	$	(19,379	)

(a) Excludes historic revenues and pre-tax income from discontinued operations

(b) Depreciation of rental equipment and non-rental depreciation were adjusted for the fair value mark-ups of equipment acquired in

the Acton acquisition. The useful lives assigned to such equipment did not change significantly from the useful lives used by Acton.

(d) In connection with the Acton acquisition, the Company drew $237.1 million on the ABL Facility. As of June 30, 2018, the weighted-

average interest rate of ABL borrowings was 4.58%.

(e) Interest on Acton historic debt was eliminated.

Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2018

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Income from discontinued operations, net of tax, for the three and six months ended June 30, 2017 was as follows:



(in thousands)	Three Months Ended June 30, 2017			Six Months Ended June 30, 2017
Remote accommodations revenue	$	31,487		$	58,565
Remote accommodations costs of leasing and services	13,163			24,738
Depreciation of rental equipment	6,119			12,542
Gross profit	12,205			21,285
Selling, general and administrative expenses	3,499			6,531
Other depreciation and amortization	1,257			2,508
Restructuring costs	380			770
Other income, net	(37		)	(40		)
Operating profit	7,106			11,516
Interest expense	739			1,420
Income from discontinued operations, before income tax	6,367			10,096
Income tax expense	2,527			4,051
Income from discontinued operations, net of tax	$	3,840		$	6,045

Revenues and costs related to the Remote Accommodations Business for the three and six months ended June 30, 2017 were as follows:



(in thousands)	Three Months Ended June 30, 2017		Six Months Ended June 30, 2017
Remote accommodations revenue:
Lease revenue	$	14,613	$	28,577
Service revenue	16,874		29,988
Total remote accommodations revenue	$	31,487	$	58,565

Remote accommodation costs:
Cost of leases	$	2,023	$	4,200
Cost of services	11,140		20,538
Total remote accommodations costs	$	13,163	$	24,738



(in thousands)	June 30, 2017
Depreciation and amortization	$	15,050
Capital expenditures	$	4,213

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Rental Equipment, net (Tables)

6 Months Ended

Jun. 30, 2018

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, 2018			December 31, 2017
Modular units and portable storage	$	1,445,769		$	1,385,901
Value added products and services	66,834			59,566
Total rental equipment	1,512,603			1,445,467
Less: accumulated depreciation	(437,563		)	(405,321		)
Rental equipment, net	$	1,075,040		$	1,040,146

Goodwill (Tables)

6 Months Ended

Jun. 30, 2018

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 January 1, 2017	$	—	$	56,811		$	56,811
Acquisition of a business	28,609		—			28,609
Effects of movements in foreign exchange rates	—		3,932			3,932
Impairment losses	—		(60,743		)	(60,743		)
Balance at December 31, 2017	28,609		—			28,609
Acquisition of a business	3,406		—			3,406
Changes to preliminary purchase price allocations	1,555		—			1,555
Balance at June 30, 2018	$	33,570	$	—		$	33,570

Debt (Tables)

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Schedule of Debt

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



(in thousands, except rates)	Interest rate	Year of maturity	June 30, 2018			December 31, 2017
Senior secured notes	7.875%	2022	$	291,456		$	290,687
US ABL Facility	Varies	2022	356,759			297,323
Canadian ABL Facility (a)	Varies	2022	—			—
Capital lease and other financing obligations			38,309			38,736
Total debt			686,524			626,746
Less: current portion of long-term debt			(1,883		)	(1,881		)
Total long-term debt			$	684,641		$	624,865


(a)	At June 30, 2018, the Company had no outstanding borrowings on the Canadian ABL Facility and $1.5 million of related debt issuance costs. As there were no principal borrowings outstanding on the Canadian ABL Facility as of December 31, 2017, $1.8 million of debt issuance costs related to that facility are included in other non-current assets on the condensed consolidated balance sheet.

Debt Redemption



Year	Redemption Price
2019	103.938	%
2020	101.969	%
2021 and thereafter	100.000	%

- 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.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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+ Details

Equity (Tables)

6 Months Ended

Jun. 30, 2018

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive loss, net of tax, for the six months ended June 30, 2018 and 2017 were as follows:



(in thousands)	Foreign Currency Translation Adjustment			Total
Balance at December 31, 2017	$	(49,497	)	$	(49,497	)
Total other comprehensive loss	(2,380		)	(2,380		)
Reclassifications to accumulated deficit^(a)	(2,540		)	(2,540		)
Balance at June 30, 2018	$	(54,417	)	$	(54,417	)



(in thousands)	Foreign Currency Translation Adjustment			Total
Balance at December 31, 2016	$	(56,928	)	$	(56,928	)
Total other comprehensive loss	5,783			5,783
Balance at June 30, 2017	$	(51,145	)	$	(51,145	)

Schedule of Noncontrolling Interest

The changes in the non-controlling interest for the six months ended June 30, 2018 were as follows:



(in thousands)	Total
Balance at December 31, 2017	$	48,931
Net loss attributable to non-controlling interest	(505		)
Other comprehensive loss	(269		)
Balance at June 30, 2018	$	48,157

Fair Value Measures (Tables)

6 Months Ended

Jun. 30, 2018

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, 2018								December 31, 2017
	Carrying Amount		Fair Value						Carrying Amount		Fair Value
(in thousands)	Carrying Amount		Level 1		Level 2		Level 3		Carrying Amount		Level 1		Level 2		Level 3
Financial liabilities not measured at fair value
ABL Facility (see Note 6)	$	356,759	$	—	$	368,000	$	—	$	297,323	$	—	$	310,000	$	—
Notes (see Note 6)	291,456		—		312,567		—		290,687		—		310,410		—
Total	$	648,215	$	—	$	680,567	$	—	$	588,010	$	—	$	620,410	$	—

Restructuring (Tables)

6 Months Ended

Jun. 30, 2018

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 six months ended June 30, 2018 and 2017:



	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)	2018			2017			2018			2017
Balance at beginning of the period	$	755		$	1,726		$	227		$	1,793
Charges during the period	449			684			1,077			968
Cash payments during the period	(234		)	(286		)	(330		)	(639		)
Currency	(3		)	6			(7		)	8
Balance at end of period	$	967		$	2,130		$	967		$	2,130

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Restricted Stock Awards

The following table summarizes the Company’s RSA activity for the six months ended June 30, 2018:



	Number of Shares	Weighted-Average Grant Date Fair Value
Balance, December 31, 2017	—	$	—
Granted	27,675	13.60
Forfeited	—	—
Balance, June 30, 2018	27,675	$	13.60

Restricted Stock Units

The following table summarizes the Company's RSU award activity for the six months ended June 30, 2018:



	Number of Shares		Weighted-Average Grant Date Fair Value
Balance, December 31, 2017	—		$	—
Granted	921,730		13.60
Forfeited	(35,050	)	13.60
Balance, June 30, 2018	886,680		$	13.60

Stock Option Awards

The following table summarizes the Company's stock option activity for the six months ended June 30, 2018:



	Number of Options	Weighted-Average Exercise Price per Share ($)
Outstanding options, December 31, 2017	—	$	—
Granted	589,257	13.60
Exercised	—	—
Forfeited	—	—
Outstanding options, June 30, 2018	589,257	$	13.60
Fully vested and exercisable options, end of period	—	$	—

Assumptions Made for the Valuation of Stock Options

The fair value of each option award at grant date was estimated using the Black-Scholes option-pricing model with the

following assumptions:



	Assumptions
Expected volatility	36		%
Expected dividend yield	—
Risk-free interest rate	2.73		%
Expected term (in years)	6.25
Exercise price	$	13.60
Weighted-average grant date fair value	$	5.51

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2018

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, 2018 and 2017, respectively:



	Three Months Ended June 30, 2018
(in thousands)	Modular - US		Modular - Other North America		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	90,965	$	10,284	$	101,249
Modular delivery and installation	27,390		4,023		31,413
Sales:
New units	4,149		1,087		5,236
Rental units	2,309		126		2,435
Total Revenues	$	124,813	$	15,520	$	140,333

Costs:
Cost of leasing and services:
Modular leasing	$	24,505	$	2,624	$	27,129
Modular delivery and installation	26,310		3,817		30,127
Cost of sales:
New units	2,876		828		3,704
Rental units	1,164		99		1,263
Depreciation of rental equipment	20,217		3,253		23,470
Gross profit	$	49,741	$	4,899	$	54,640
Adjusted EBITDA	$	38,104	$	3,812	$	41,916
Other selected data:
Selling, general and administrative expense	$	43,325	$	4,409	$	47,734
Other depreciation and amortization	$	1,354	$	216	$	1,570
Capital expenditures for rental fleet	$	30,931	$	1,748	$	32,679



	Three Months Ended June 30, 2017
(in thousands)	Modular - US		Modular - Other North America		Corporate & Other			Total
Revenues:
Leasing and services revenue:
Modular leasing	$	64,854	$	8,242	$	(142	)	$	72,954
Modular delivery and installation	20,970		1,979		—			22,949
Sales:
New units	8,550		846		—			9,396
Rental units	3,835		943		—			4,778
Total Revenues	$	98,209	$	12,010	$	(142	)	$	110,077

Costs:
Cost of leasing and services:
Modular leasing	$	19,338	$	2,002	$	—		$	21,340
Modular delivery and installation	20,393		1,946		—			22,339
Cost of sales:
New units	6,072		696		(2		)	6,766
Rental units	1,923		652		—			2,575
Depreciation of rental equipment	14,529		2,945		—			17,474
Gross profit (loss)	$	35,954	$	3,769	$	(140	)	$	39,583
Adjusted EBITDA	$	26,329	$	2,506	$	(2,588	)	$	26,247
Other selected data:
Selling, general and administrative expense	$	24,181	$	4,223	$	3,248		$	31,652
Other depreciation and amortization	$	1,301	$	244	$	345		$	1,890
Capital expenditures for rental fleet	$	25,909	$	1,716	$	—		$	27,625



	Six Months Ended June 30, 2018
(in thousands)	Modular - US		Modular - Other North America		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	178,913	$	19,598	$	198,511
Modular delivery and installation	51,360		6,303		57,663
Sales:
New units	10,964		1,700		12,664
Rental units	5,663		583		6,246
Total Revenues	$	246,900	$	28,184	$	275,084

Costs:
Cost of leasing and services:
Modular leasing	$	49,562	$	4,729	$	54,291
Modular delivery and installation	49,250		6,398		55,648
Cost of sales:					—
New units	7,442		1,249		8,691
Rental units	3,193		385		3,578
Depreciation of rental equipment	40,904		6,411		47,315
Gross profit	$	96,549	$	9,012	$	105,561
Adjusted EBITDA	$	70,716	$	6,692	$	77,408
Other selected data:
Selling, general and administrative expense	$	84,146	$	8,802	$	92,948
Other depreciation and amortization	$	3,559	$	447	$	4,006
Capital expenditures for rental fleet	$	61,455	$	3,308	$	64,763



	Six Months Ended June 30, 2017
(in thousands)	Modular - US		Modular - Other North America		Corporate & Other			Total
Revenues:
Leasing and services revenue:
Modular leasing	$	126,032	$	16,204	$	(295	)	$	141,941
Modular delivery and installation	38,324		3,629		—			41,953
Sales:
New units	12,556		2,326		—			14,882
Rental units	8,712		1,910		—			10,622
Total Revenues	$	185,624	$	24,069	$	(295	)	$	209,398

Costs:
Cost of leasing and services:
Modular leasing	$	36,713	$	3,729	$	—		$	40,442
Modular delivery and installation	37,067		3,405		—			40,472
Cost of sales:								—
New units	8,685		1,813		(12		)	10,486
Rental units	5,036		1,247		—			6,283
Depreciation of rental equipment	28,354		5,840		—			34,194
Gross profit (loss)	$	69,769	$	8,035	$	(283	)	$	77,521
Adjusted EBITDA	$	50,012	$	5,625	$	(7,444	)	$	48,193
Other selected data:
Selling, general and administrative expense	$	48,127	$	8,277	$	8,009		$	64,413
Other depreciation and amortization	$	2,639	$	491	$	701		$	3,831
Capital expenditures for rental fleet	$	47,958	$	2,344	$	—		$	50,302

Reconciliation of Assets from Segment to Consolidated



	Three Months Ended June 30, 2018
(in thousands)	Modular - US			Modular - Other North America			Total
Loss from continuing operations before income taxes	$	(5,533	)	$	(733	)	$	(6,266	)
Interest expense, net	11,663			492			12,155
Depreciation and amortization	21,571			3,469			25,040
Currency losses, net	114			458			572
Restructuring costs	449			—			449
Integration costs	4,785			—			4,785
Stock compensation expense	1,054			—			1,054
Transaction fees	4,049			69			4,118
Other (income) expense	(48		)	57			9
Adjusted EBITDA	$	38,104		$	3,812		$	41,916



	Three Months Ended June 30, 2017
(in thousands)	Modular - US			Modular - Other North America			Corporate & Other			Total
Loss from continuing operations before income taxes	$	320		$	(1,442	)	$	(13,883	)	$	(15,005	)
Interest expense, net	15,953			1,038			9,407			26,398
Depreciation and amortization	15,830			3,189			345			19,364
Currency gains, net	(5,800		)	(294		)	(403		)	(6,497		)
Restructuring costs	—			—			684			684
Transaction fees	46			—			730			776
Other expense	(20		)	15			532			527
Adjusted EBITDA	$	26,329		$	2,506		$	(2,588	)	$	26,247



	Six Months Ended June 30, 2018
(in thousands)	Modular - US			Modular - Other North America			Total
Loss from continuing operations before income taxes	$	(10,841	)	$	(2,680	)	$	(13,521	)
Interest expense, net	22,823			1,051			23,874
Depreciation and amortization	44,463			6,858			51,321
Currency losses, net	271			1,325			1,596
Restructuring costs	1,067			10			1,077
Integration costs	7,415			—			7,415
Stock compensation expense	1,175			—			1,175
Transaction fees	4,049			69			4,118
Other expense	294			59			353
Adjusted EBITDA	$	70,716		$	6,692		$	77,408



	Six Months Ended June 30, 2017
(in thousands)	Modular - US			Modular - Other North America			Corporate & Other			Total
Loss from continuing operations before income taxes	$	(5,210	)	$	(2,458	)	$	(24,590	)	$	(32,258	)
Interest expense, net	31,512			2,216			14,747			48,475
Depreciation and amortization	30,993			6,331			701			38,025
Currency gains, net	(7,399		)	(481		)	(619		)	(8,499		)
Restructuring costs	—			—			968			968
Transaction fees	46			—			816			862
Other expense	70			17			533			620
Adjusted EBITDA	$	50,012		$	5,625		$	(7,444	)	$	48,193

Income (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Schedule of Earnings Per Share



	Three Months Ended June 30,					Six Months Ended June 30,
(in thousands, except per share numbers)	2018		2017			2018			2017
Numerator
Income (loss) from continuing operations	$	379	$	(9,736	)	$	(6,456	)	$	(22,120	)
Income from discontinued operations, net of tax	—		3,840			—			6,045
Net income (loss)	379		(5,896		)	(6,456		)	(16,075		)
Net income (loss) attributable to non-controlling interest, net of tax	143		—			(505		)	—
Total income (loss) attributable to WSC	$	236	$	(5,896	)	$	(5,951	)	$	(16,075	)

Denominator
Average shares outstanding - basic	78,432,274		14,545,833			77,814,456			14,545,833
Average effect of dilutive securities:
Warrants	3,745,030		—			—			—
Restricted stock awards	2,782		—			—			—
Average shares outstanding - diluted	$	82,180,086	$	14,545,833		$	77,814,456		$	14,545,833

Income (loss) per share - basic
Continuing operations - basic	$	0.00	$	(0.67	)	$	(0.08	)	$	(1.53	)
Discontinued operations - basic	$	0.00	$	0.26		$	0.00		$	0.42
Net income (loss) per share - basic	$	0.00	$	(0.41	)	$	(0.08	)	$	(1.11	)

Income (loss) per share - diluted
Continuing operations - basic	$	0.00	$	(0.67	)	$	(0.08	)	$	(1.53	)
Discontinued operations - basic	$	0.00	$	0.26		$	0.00		$	0.42
Net income (loss) per share - basic	$	0.00	$	(0.41	)	$	(0.08	)	$	(1.11	)

Related Parties (Tables)

6 Months Ended

Jun. 30, 2018

Schedule of Related Parties

Related party transactions included in the Company’s consolidated statement of operations for the three and six months ended June 30, 2018 and 2017, respectively, consisted of the following:



		Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)	Financial statement line item	2018			2017			2018			2017
Leasing revenue from related parties	Modular leasing revenue	$	(233	)	$	—		$	(525	)	$	—
Management fees and recharge income on transactions with affiliates	Selling, general & administrative expenses	—			1,502			—			151
Interest income on notes due from affiliates	Interest income	—			(3,509		)	—			(6,093		)
Interest expense on notes due to affiliates	Interest expense	—			15,990			—			30,727
	Total related party (income) expense, net	$	(233	)	$	13,983		$	(525	)	$	24,785

Related party balances included in the Company’s consolidated balance sheet at June 30, 2018 and December 31, 2017, consisted of the following:



(in thousands)	Financial statement line Item	June 30, 2018			December 31, 2017
Receivables due from affiliates	Prepaid expenses and other current assets	$	180		$	2,863
Amounts due to affiliates	Accrued liabilities	(873		)	(1,235		)
	Total related party liabilities, net	$	(693	)	$	1,628

Summary of Significant Accounting Policies Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Jun. 30, 2018
Accounting Policies [Abstract]
Percentage ownership by company		90.00%
Percentage ownership by TDR Capital LLP		10.00%
Provisional tax benefit from remeasurement of deferred tax liabilities	$ 28.1
Provisional tax expense from the deemed repatriation of foreign earnings	$ 2.4

Acquisitions (Details) - USD ($)				3 Months Ended		6 Months Ended
Acquisitions (Details) - USD ($)	Jun. 21, 2018	Jan. 03, 2018	Dec. 20, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill				$ 33,570,000		$ 33,570,000		$ 28,609,000	$ 56,811,000
Cash purchase price						24,006,000	$ 0
Integration fees				4,785,000		7,415,000
Transaction fees				4,118,000	$ 776,000	4,118,000	$ 862,000
Tyson Onsite
Business Acquisition [Line Items]
Consideration		$ 24,000,000
Tyson Onsite \| Adjustment
Business Acquisition [Line Items]
Rental fleet				600,000		600,000
Accrued liabilities				200,000		200,000
Acton Mobile Holdings LLC
Business Acquisition [Line Items]
Percentage of issued and outstanding ownership interests acquired			100.00%
Cash purchase price			$ 237,100,000
Integration fees				4,800,000		7,400,000
Acton Mobile Holdings LLC \| Adjustment
Business Acquisition [Line Items]
Accrued liabilities				$ 2,000,000		2,000,000
Modular Space Holdings, Inc
Business Acquisition [Line Items]
Cash purchase price	$ 1,063,750,000
Termination fee	$ 35,000,000.0
Transaction fees						$ 4,100,000
Class A Common Stock \| Modular Space Holdings, Inc
Business Acquisition [Line Items]
Warrants exercise price (in USD per share)	$ 15.50
Common Stock \| Class A Common Stock \| Modular Space Holdings, Inc
Business Acquisition [Line Items]
Common stock (in shares)	6,458,500
Warrants \| Class A Common Stock \| Modular Space Holdings, Inc
Business Acquisition [Line Items]
Common stock (in shares)	10,000,000

Acquisitions - Pro-Forma Consolidated Statements of Operations (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Dec. 20, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Business Acquisition [Line Items]
Revenues		$ 140,333	$ 110,077	$ 275,084	$ 209,398
Pretax loss		$ (6,266)	$ (15,005)	$ (13,521)	(32,258)
Revolving Credit Facility \| Line of Credit \| ABL Facility
Business Acquisition [Line Items]
Weighted average interest rate for borrowings		4.58%		4.58%
Acton Mobile Holdings LLC
Business Acquisition [Line Items]
Pro-forma revenues					256,786
Pretax loss					(37,076)
Pro-forma pretax loss					(32,533)
Income tax benefit					(11,652)
Pro-forma loss from continuing operations					(25,424)
Income from discontinued operations					6,045
Pro-forma net loss					(19,379)
Draw down of debt	$ 237,100
Acton Mobile Holdings LLC \| Impact of fair value mark-ups/useful life changes on depreciation
Business Acquisition [Line Items]
Pretax loss					(1,272)
Acton Mobile Holdings LLC \| Intangible asset amortization
Business Acquisition [Line Items]
Pretax loss					(354)
Acton Mobile Holdings LLC \| Interest expense
Business Acquisition [Line Items]
Pretax loss					(5,431)
Acton Mobile Holdings LLC \| Elimination of historic Acton interest
Business Acquisition [Line Items]
Pretax loss					2,514
Acton Mobile Holdings LLC
Business Acquisition [Line Items]
Revenues					47,388
Pretax loss					$ (275)

Discontinued Operations - Income (Loss) from Discontinued Operations, Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations, net of tax	$ (143)	$ 0	$ 505	$ 0
Remote accommodations \| Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Remote accommodations revenue		31,487		58,565
Remote accommodations costs of leasing and services		13,163		24,738
Depreciation of rental equipment		6,119		12,542
Gross profit		12,205		21,285
Selling, general and administrative expenses		3,499		6,531
Other depreciation and amortization		1,257		2,508
Restructuring costs		380		770
Other income, net		(37)		(40)
Operating profit		7,106		11,516
Interest expense		739		1,420
Income from discontinued operations, before income tax		6,367		10,096
Income tax expense		2,527		4,051
Income from discontinued operations, net of tax		$ 3,840		$ 6,045

Discontinued Operations - Revenues and Costs Related to Remote Accommodations Business (Details) - Remote accommodations - Discontinued Operations - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017
Remote accommodations revenue:
Lease revenue	$ 14,613	$ 28,577
Service revenue	16,874	29,988
Total remote accommodations revenue	31,487	58,565
Remote accommodation costs:
Cost of leases	2,023	4,200
Cost of services	11,140	20,538
Total remote accommodations costs	$ 13,163	$ 24,738

Discontinued Operations - Cash Flows from Discontinued Operations (Details) - Remote accommodations - Discontinued Operations $ in Thousands	6 Months Ended
	Jun. 30, 2017 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization	$ 15,050
Capital expenditures	$ 4,213

Rental Equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
Rental Equipment, net (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Total rental equipment	$ 1,512,603	$ 1,512,603	$ 1,445,467
Less: accumulated depreciation	(437,563)	(437,563)	(405,321)
Rental equipment, net	1,075,040	1,075,040	1,040,146
Insurance proceeds	1,800	9,300
Gain on insurance proceeds	1,800	4,800
Modular units and portable storage
Property, Plant and Equipment [Line Items]
Total rental equipment	1,445,769	1,445,769	1,385,901
Value added products and services
Property, Plant and Equipment [Line Items]
Total rental equipment	$ 66,834	$ 66,834	$ 59,566

Goodwill - Goodwill Activity (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 28,609	$ 56,811
Acquisition of a business	3,406	28,609
Effects of movements in foreign exchange rates		3,932
Impairment losses		(60,743)
Changes to preliminary purchase price allocations	1,555
Goodwill, end of period	33,570	28,609
Modular – US
Goodwill [Roll Forward]
Goodwill, beginning of period	28,609	0
Acquisition of a business	3,406	28,609
Effects of movements in foreign exchange rates		0
Impairment losses		0
Changes to preliminary purchase price allocations	1,555
Goodwill, end of period	33,570	28,609
Modular – Other North America
Goodwill [Roll Forward]
Goodwill, beginning of period	0	56,811
Acquisition of a business	0	0
Effects of movements in foreign exchange rates		3,932
Impairment losses		(60,743)
Changes to preliminary purchase price allocations	0
Goodwill, end of period	$ 0	$ 0

Goodwill - Narrative (Details) - USD ($) $ in Thousands			3 Months Ended	6 Months Ended	12 Months Ended
Goodwill - Narrative (Details) - USD ($) $ in Thousands	Jan. 03, 2018	Dec. 20, 2017	Jun. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Goodwill [Line Items]
Acquisition of a business				$ 3,406	$ 28,609
Changes to preliminary purchase price allocations				1,555
Modular – US
Goodwill [Line Items]
Acquisition of a business				3,406	$ 28,609
Changes to preliminary purchase price allocations				1,555
Modular – US \| Acton Mobile Holdings LLC
Goodwill [Line Items]
Acquisition of a business		$ 28,600
Modular – US \| Tyson Onsite
Goodwill [Line Items]
Acquisition of a business	$ 3,400
Changes to preliminary purchase price allocations			$ 1,000	$ 2,000
Adjustment \| Tyson Onsite
Goodwill [Line Items]
Net assets			$ 400

Debt - Carrying Value of Debt Outstanding (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017	Nov. 29, 2017
Debt Instrument [Line Items]
Capital lease and other financing obligations	$ 38,309,000	$ 38,736,000
Total debt	686,524,000	626,746,000
Less: current portion of long-term debt	(1,883,000)	(1,881,000)
Total long-term debt	$ 684,641,000	624,865,000
Senior Notes \| Senior secured notes
Debt Instrument [Line Items]
Interest rate	7.875%		7.875%
Debt	$ 291,456,000	290,687,000
Debt issuance costs	8,500,000	9,300,000
Line of Credit \| US ABL Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Debt	356,759,000	297,323,000
Line of Credit \| Canadian ABL Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Debt	0	0
Debt issuance costs	$ 1,500,000
Line of Credit \| Canadian ABL Facility \| Revolving Credit Facility \| Other Non-current Assets
Debt Instrument [Line Items]
Debt issuance costs		$ 1,800,000

Debt - Additional Information (Details) - USD ($)		3 Months Ended		6 Months Ended		12 Months Ended
Debt - Additional Information (Details) - USD ($)	Nov. 29, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Jul. 31, 2018	Jul. 09, 2018	Oct. 31, 2012
Debt Instrument [Line Items]
Capital lease obligations		$ 38,309,000		$ 38,309,000		$ 38,736,000
Interest expense on notes due to affiliates		0	$ 15,990,000	0	$ 30,727,000
Interest income for notes from affiliates		0	3,509,000	0	6,093,000
Affiliates
Debt Instrument [Line Items]
Interest expense on notes due to affiliates		16,600,000		31,300,000
Interest income for notes from affiliates		3,500,000		6,100,000
Line of Credit \| ABL Facility
Debt Instrument [Line Items]
Letters of credit amount outstanding		8,900,000		8,900,000		8,900,000
Senior Notes \| Senior secured notes
Debt Instrument [Line Items]
Interest expense		$ 5,900,000		$ 11,700,000
Debt, face amount	$ 300,000,000.0
Interest rate	7.875%	7.875%		7.875%
Unamortized debt issuance costs		$ 8,500,000		$ 8,500,000		9,300,000
Senior Notes \| Any time Before December 15, 2019 \| Senior secured notes \| 100% of Principal
Debt Instrument [Line Items]
Redemption price				100.00%
Make whole premium percentage of outstanding principal		100.00%		100.00%
Make whole premium basis spread on variable rate		0.50%		0.50%
Senior Notes \| Any time Before December 15, 2019 \| Senior secured notes \| 40% of Principal
Debt Instrument [Line Items]
Redemption price				107.875%
Redemption percentage of aggregate principal amount				40.00%
Senior Notes \| Any time Before December 15, 2019 \| Senior secured notes \| 10% of Principal
Debt Instrument [Line Items]
Redemption price				103.00%
Redemption percentage of aggregate principal amount				10.00%
Capital Leases and Other Financing Obligations
Debt Instrument [Line Items]
Unamortized debt issuance costs		$ 1,700,000		$ 1,700,000		1,800,000
Capital Lease Obligations
Debt Instrument [Line Items]
Capital lease obligations		$ 200,000		$ 200,000		200,000
Capital Lease Obligations \| Minimum
Debt Instrument [Line Items]
Interest rate		1.20%		1.20%
Capital Lease Obligations \| Maximum
Debt Instrument [Line Items]
Interest rate		11.90%		11.90%
Sale Leaseback Transaction
Debt Instrument [Line Items]
Capital lease obligations		$ 38,100,000		$ 38,100,000		38,500,000
Implicit interest rate		8.00%		8.00%
Sale Leaseback Transaction \| Minimum
Debt Instrument [Line Items]
Agreement term				18 months
Sale Leaseback Transaction \| Maximum
Debt Instrument [Line Items]
Agreement term				10 years
Revolving Credit Facility \| Line of Credit \| Former Algeco Group Revolver
Debt Instrument [Line Items]
Maximum aggregate availability									$ 1,355,000,000.000
Interest expense			$ 8,300,000		$ 14,500,000
Revolving Credit Facility \| Line of Credit \| Former Algeco Group Revolver Denominated in USD
Debt Instrument [Line Items]
Maximum aggregate availability									760,000,000.0
Revolving Credit Facility \| Line of Credit \| Former Algeco Group Revolver Denominated in CAD
Debt Instrument [Line Items]
Maximum aggregate availability									$ 175,000,000.0
Revolving Credit Facility \| Line of Credit \| ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability	$ 600,000,000.0	$ 600,000,000.0		$ 600,000,000.0		600,000,000.0
Accordion feature	$ 300,000,000.0
Applicable margin, step down	0.25%
Applicable margin, step up	0.25%
Weighted average interest rate for borrowings		4.58%		4.58%
Available borrowing capacity		$ 219,600,000		$ 219,600,000		281,100,000
Minimum fixed charge ratio		1.00		1.00
Maximum total net leverage ratio		5.50		5.50
Excess availability under facility to trigger covenant		$ 50,000,000.0		$ 50,000,000.0
Excess availability as a percentage of the line cap to trigger covenant		10.00%		10.00%
Outstanding principal		$ 368,000,000		$ 368,000,000		310,000,000
Debt issuance costs and debt discount		11,200,000		11,200,000		12,700,000
Revolving Credit Facility \| Line of Credit \| ABL Facility \| Minimum
Debt Instrument [Line Items]
Commitment fee	0.375%
Revolving Credit Facility \| Line of Credit \| ABL Facility \| Maximum
Debt Instrument [Line Items]
Commitment fee	0.50%
Revolving Credit Facility \| Line of Credit \| US ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability	$ 530,000,000.0
Percentage of net book value of accounts receivable used in determining borrowing capacity	85.00%
Percentage of net book value of eligible rental equipment used in determining borrowing capacity	95.00%
Percentage of net orderly liquidation value of eligible rental equipment used in determining borrowing capacity	85.00%
Available borrowing capacity		153,100,000		153,100,000		211,100,000
Revolving Credit Facility \| Line of Credit \| Canadian ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability	$ 70,000,000.0
Percentage of net book value of accounts receivable used in determining borrowing capacity	85.00%
Percentage of net book value of eligible rental equipment used in determining borrowing capacity	95.00%
Percentage of net orderly liquidation value of eligible rental equipment used in determining borrowing capacity	85.00%
Available borrowing capacity		66,500,000		66,500,000		$ 70,000,000
Unamortized debt issuance costs		1,500,000		$ 1,500,000
Revolving Credit Facility \| Line of Credit \| LIBOR \| ABL Facility
Debt Instrument [Line Items]
Applicable margin	2.50%
Revolving Credit Facility \| Line of Credit \| Base Rate \| ABL Facility
Debt Instrument [Line Items]
Applicable margin	1.50%
Letter of Credit \| Line of Credit \| ABL Facility
Debt Instrument [Line Items]
Commitment fee				2.625%		2.625%
Letter of Credit \| Line of Credit \| US ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability		60,000,000.0		$ 60,000,000.0
Letter of Credit \| Line of Credit \| Canadian ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability		30,000,000.0		30,000,000.0
Swingline Loans \| Line of Credit \| US ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability		50,000,000.0		50,000,000.0
Swingline Loans \| Line of Credit \| Canadian ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability		$ 25,000,000.0		$ 25,000,000.0
Subsequent Event \| Revolving Credit Facility \| Line of Credit \| ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability							$ 1,350,000,000.00	$ 1,350,000,000.00
Accordion feature								$ 450,000,000.0
Minimum fixed charge ratio								1.00
Maximum total net leverage ratio								5.50
Excess availability under facility to trigger covenant								$ 135,000,000.0
Excess availability as a percentage of the line cap to trigger covenant								10.00%
Subsequent Event \| Revolving Credit Facility \| Line of Credit \| US ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability								$ 1,200,000,000.0
Subsequent Event \| Revolving Credit Facility \| Line of Credit \| Canadian ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability								150,000,000.0
Subsequent Event \| Letter of Credit \| Line of Credit \| US ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability								75,000,000.0
Subsequent Event \| Letter of Credit \| Line of Credit \| Canadian ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability								60,000,000.0
Subsequent Event \| Swingline Loans \| Line of Credit \| US ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability								75,000,000.0
Subsequent Event \| Swingline Loans \| Line of Credit \| Canadian ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability								$ 50,000,000.0

Debt - Redemption Price Percentage (Details) - Senior Notes - Senior secured notes	6 Months Ended
	Jun. 30, 2018
2019
Debt Instrument [Line Items]
Redemption Price	103.938%
2020
Debt Instrument [Line Items]
Redemption Price	101.969%
2021 and thereafter
Debt Instrument [Line Items]
Redemption Price	100.00%

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at December 31, 2017	$ 484,550
Total other comprehensive loss	(2,380)	$ 5,783
Reclassifications to accumulated deficit	(2,540)
Balance at June 30, 2018	476,620
Reclassification from accumulated other comprehensive income to retained earnings from adoption of ASU 2018-02	2,500
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at December 31, 2017	(49,497)	(56,928)
Total other comprehensive loss	(2,380)	5,783
Reclassifications to accumulated deficit	(2,540)
Balance at June 30, 2018	(54,417)	(51,145)
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at December 31, 2017	(49,497)	(56,928)
Balance at June 30, 2018	$ (54,417)	$ (51,145)

Equity - Non-Controlling Interest (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at December 31, 2017			$ 484,550
Net loss attributable to non-controlling interest	$ 143	$ 0	(505)	$ 0
Balance at June 30, 2018	476,620		476,620
Non-Controlling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at December 31, 2017			48,931
Other comprehensive loss			(269)
Balance at June 30, 2018	$ 48,157		$ 48,157

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (6,645)		$ (5,269)	$ (7,065)	$ (10,138)
Effective tax rate	106.10%		24.30%	52.30%	24.80%
Discrete tax benefit from state legislative changes	$ 4,200
Tax benefit for period				19.80%
Income tax expense (benefit) related to foreign currency gains and losses	200		$ (2,500)	$ (400)	$ (3,100)
Income tax benefit for adjustment in provisional amounts for impacts of the tax act	$ 300	$ 300

Fair Value Measures (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	$ 648,215	$ 588,010
Carrying Amount \| ABL Facility \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	356,759	297,323
Carrying Amount \| Notes \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	291,456	290,687
Fair Value \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	0	0
Fair Value \| Level 1 \| ABL Facility \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
Fair Value \| Level 1 \| Notes \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
Fair Value \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	680,567	620,410
Fair Value \| Level 2 \| ABL Facility \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	368,000	310,000
Fair Value \| Level 2 \| Notes \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	312,567	310,410
Fair Value \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	0	0
Fair Value \| Level 3 \| ABL Facility \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
Fair Value \| Level 3 \| Notes \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 0	$ 0

Restructuring - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring costs	$ 449	$ 684	$ 1,077	$ 968
Restructuring accrual	$ 967	$ 2,130	$ 967	$ 2,130	$ 755	$ 227	$ 1,726	$ 1,793

Restructuring - Summary of Activities in the Restructuring Accruals (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Restructuring Reserve [Roll Forward]
Balance at beginning of the period	$ 755	$ 1,726	$ 227	$ 1,793
Charges during the period	449	684	1,077	968
Cash payments during the period	(234)	(286)	(330)	(639)
Currency	(3)	6	(7)	8
Balance at end of period	$ 967	$ 2,130	$ 967	$ 2,130

Stock-Based Compensation - Narrative (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2018 USD ($) shares	Jun. 30, 2018 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares which may be granted under plan (in shares) \| shares	4,000,000	4,000,000
Number of options granted (in shares) \| shares		589,257
Stock compensation expense	$ 1,054	$ 1,175
Unrecognized compensation expense for options	3,000	$ 3,000
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards granted (in shares) \| shares		27,675
Vesting period		1 year
Stock compensation expense	100	$ 100
Unrecognized compensation expense for awards	300	$ 300
Unrecognized compensation expense, period for recognition		9 months
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards granted (in shares) \| shares		921,730
Number of awards forfeited (in shares) \| shares		35,050
Vesting period		4 years
Stock compensation expense	600	$ 800
Compensation expense for awards, associated tax benefits	200	200
Unrecognized compensation expense for awards	11,200	$ 11,200
Unrecognized compensation expense, period for recognition		3 years 9 months
Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Expiration period		10 years
Stock compensation expense	200	$ 200
Compensation expense for awards, associated tax benefits	$ 0	$ 100
Unrecognized compensation expense, period for recognition		3 years 9 months

Stock-Based Compensation - Restricted Stock Award Activity (Details) - Restricted Stock Awards	6 Months Ended
	Jun. 30, 2018 $ / shares shares
Number of Shares
Beginning balance (in shares) \| shares	0
Granted (in shares) \| shares	27,675
Forfeited (in shares) \| shares	0
Ending balance (in shares) \| shares	27,675
Weighted-Average Grant Date Fair Value
Beginning balance (in USD per share) \| $ / shares	$ 0.00
Granted (in USD per share) \| $ / shares	13.60
Forfeited (in USD per share) \| $ / shares	0.00
Ending balance (in USD per share) \| $ / shares	$ 13.60

Stock-Based Compensation - Schedule of Restricted Stock Activity (Details) - Restricted Stock Units	6 Months Ended
	Jun. 30, 2018 $ / shares shares
Number of Shares
Beginning balance (in shares) \| shares	0
Granted (in shares) \| shares	921,730
Forfeited (in shares) \| shares	(35,050)
Ending balance (in shares) \| shares	886,680
Weighted-Average Grant Date Fair Value
Beginning balance (in USD per share) \| $ / shares	$ 0.00
Granted (in USD per share) \| $ / shares	13.60
Forfeited (in USD per share) \| $ / shares	13.60
Ending balance (in USD per share) \| $ / shares	$ 13.60

Stock-Based Compensation - Schedule of Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2018 $ / shares shares
Number of Options
Beginning balance (in shares) \| shares	0
Granted (in shares) \| shares	589,257
Exercised (in shares) \| shares	0
Forfeited (in shares) \| shares	0
Ending balance (in shares) \| shares	589,257
Fully vested and exercisable options, end of year (in shares) \| shares	0
Weighted-Average Exercise Price per Share ($)
Beginning balance (in USD per share) \| $ / shares	$ 0.00
Granted (in USD per share) \| $ / shares	13.60
Exercised (in USD per share) \| $ / shares	0.00
Forfeited (in USD per share) \| $ / shares	0.00
Ending balance (in USD per share) \| $ / shares	13.60
Fully vested and exercisable options, end of year (in USD per share) \| $ / shares	$ 0.00

Stock-Based Compensation - Share-Based Compensation by Arrangement (Details) - $ / shares	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected volatility	36.00%
Expected dividend yield	0.00%
Risk-free interest rate	2.73%
Expected term (in years)	6 years 3 months
Exercise price (in USD per share)	$ 13.60	$ 0.00
Weighted-average grant date fair value (in USD per share)	$ 5.51

Commitments and Contingencies - Narrative (Details)	Jun. 21, 2018 USD ($)
Modular Space Holdings, Inc
Business Acquisition [Line Items]
Termination fee	$ 35,000,000.0

Segment Reporting - Narrative (Details)	6 Months Ended
Segment Reporting - Narrative (Details)	Jun. 30, 2018 business_line segment
Segment Reporting [Abstract]
Number of business lines \| business_line	2
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, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Leasing and services revenue:
Modular leasing	$ 101,249	$ 72,954	$ 198,511	$ 141,941
Modular delivery and installation	31,413	22,949	57,663	41,953
Sales:
Total revenues	140,333	110,077	275,084	209,398
Cost of leasing and services:
Modular leasing	27,129	21,340	54,291	40,442
Modular delivery and installation	30,127	22,339	55,648	40,472
Costs of sales:
Depreciation of rental equipment	23,470	17,474	47,315	34,194
Gross profit	54,640	39,583	105,561	77,521
Adjusted EBITDA	41,916	26,247	77,408	48,193
Other selected data:
Selling, general and administrative expense	47,734	31,652	92,948	64,413
Other depreciation and amortization	1,570	1,890	4,006	3,831
Capital expenditures for rental fleet	32,679	27,625	64,763	50,302
New units
Sales:
Sales	5,236	9,396	12,664	14,882
Costs of sales:
Cost of sales	3,704	6,766	8,691	10,486
Rental units
Sales:
Sales	2,435	4,778	6,246	10,622
Costs of sales:
Cost of sales	1,263	2,575	3,578	6,283
Corporate & Other
Leasing and services revenue:
Modular leasing		(142)		(295)
Modular delivery and installation		0		0
Sales:
Total revenues		(142)		(295)
Cost of leasing and services:
Modular leasing		0		0
Modular delivery and installation		0		0
Costs of sales:
Depreciation of rental equipment		0		0
Gross profit		(140)		(283)
Adjusted EBITDA		(2,588)		(7,444)
Other selected data:
Selling, general and administrative expense		3,248		8,009
Other depreciation and amortization		345		701
Capital expenditures for rental fleet		0		0
Corporate & Other \| New units
Sales:
Sales		0		0
Costs of sales:
Cost of sales		(2)		(12)
Corporate & Other \| Rental units
Sales:
Sales		0		0
Costs of sales:
Cost of sales		0		0
Modular – US \| Operating Segments
Leasing and services revenue:
Modular leasing	90,965	64,854	178,913	126,032
Modular delivery and installation	27,390	20,970	51,360	38,324
Sales:
Total revenues	124,813	98,209	246,900	185,624
Cost of leasing and services:
Modular leasing	24,505	19,338	49,562	36,713
Modular delivery and installation	26,310	20,393	49,250	37,067
Costs of sales:
Depreciation of rental equipment	20,217	14,529	40,904	28,354
Gross profit	49,741	35,954	96,549	69,769
Adjusted EBITDA	38,104	26,329	70,716	50,012
Other selected data:
Selling, general and administrative expense	43,325	24,181	84,146	48,127
Other depreciation and amortization	1,354	1,301	3,559	2,639
Capital expenditures for rental fleet	30,931	25,909	61,455	47,958
Modular – US \| Operating Segments \| New units
Sales:
Sales	4,149	8,550	10,964	12,556
Costs of sales:
Cost of sales	2,876	6,072	7,442	8,685
Modular – US \| Operating Segments \| Rental units
Sales:
Sales	2,309	3,835	5,663	8,712
Costs of sales:
Cost of sales	1,164	1,923	3,193	5,036
Modular – Other North America \| Operating Segments
Leasing and services revenue:
Modular leasing	10,284	8,242	19,598	16,204
Modular delivery and installation	4,023	1,979	6,303	3,629
Sales:
Total revenues	15,520	12,010	28,184	24,069
Cost of leasing and services:
Modular leasing	2,624	2,002	4,729	3,729
Modular delivery and installation	3,817	1,946	6,398	3,405
Costs of sales:
Depreciation of rental equipment	3,253	2,945	6,411	5,840
Gross profit	4,899	3,769	9,012	8,035
Adjusted EBITDA	3,812	2,506	6,692	5,625
Other selected data:
Selling, general and administrative expense	4,409	4,223	8,802	8,277
Other depreciation and amortization	216	244	447	491
Capital expenditures for rental fleet	1,748	1,716	3,308	2,344
Modular – Other North America \| Operating Segments \| New units
Sales:
Sales	1,087	846	1,700	2,326
Costs of sales:
Cost of sales	828	696	1,249	1,813
Modular – Other North America \| Operating Segments \| Rental units
Sales:
Sales	126	943	583	1,910
Costs of sales:
Cost of sales	$ 99	$ 652	$ 385	$ 1,247

Segment Reporting - Reconciliation of Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Loss from continuing operations before income tax	$ (6,266)	$ (15,005)	$ (13,521)	$ (32,258)
Interest expense, net	12,155	26,398	23,874	48,475
Depreciation and amortization	25,040	19,364	51,321	38,025
Currency losses (gains), net	572	(6,497)	1,596	(8,499)
Restructuring costs	449	684	1,077	968
Integration costs	4,785		7,415
Stock compensation expense	1,054		1,175
Transaction fees	4,118	776	4,118	862
Other (income) expense	9	527	353	620
Adjusted EBITDA	41,916	26,247	77,408	48,193
Operating Segments \| Modular – US
Segment Reporting Information [Line Items]
Loss from continuing operations before income tax	(5,533)	320	(10,841)	(5,210)
Interest expense, net	11,663	15,953	22,823	31,512
Depreciation and amortization	21,571	15,830	44,463	30,993
Currency losses (gains), net	114	(5,800)	271	(7,399)
Restructuring costs	449	0	1,067	0
Integration costs	4,785		7,415
Stock compensation expense	1,054		1,175
Transaction fees	4,049	46	4,049	46
Other (income) expense	(48)	(20)	294	70
Adjusted EBITDA	38,104	26,329	70,716	50,012
Operating Segments \| Modular – Other North America
Segment Reporting Information [Line Items]
Loss from continuing operations before income tax	(733)	(1,442)	(2,680)	(2,458)
Interest expense, net	492	1,038	1,051	2,216
Depreciation and amortization	3,469	3,189	6,858	6,331
Currency losses (gains), net	458	(294)	1,325	(481)
Restructuring costs	0	0	10	0
Integration costs	0		0
Stock compensation expense	0		0
Transaction fees	69	0	69	0
Other (income) expense	57	15	59	17
Adjusted EBITDA	$ 3,812	2,506	$ 6,692	5,625
Corporate & Other
Segment Reporting Information [Line Items]
Loss from continuing operations before income tax		(13,883)		(24,590)
Interest expense, net		9,407		14,747
Depreciation and amortization		345		701
Currency losses (gains), net		(403)		(619)
Restructuring costs		684		968
Transaction fees		730		816
Other (income) expense		532		533
Adjusted EBITDA		$ (2,588)		$ (7,444)

Income (Loss) Per Share - Narrative (Details) - shares			3 Months Ended
Income (Loss) Per Share - Narrative (Details) - shares	Jan. 19, 2018	Nov. 29, 2017	Jun. 30, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares released from escrow (in shares)	6,212,500
Shares held in escrow (in shares)			6,212,500
Stock Option Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from computation of diluted earnings per share because their effect would have been anti-dilutive (in shares)			589,257
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from computation of diluted earnings per share because their effect would have been anti-dilutive (in shares)			886,680
Class A Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares placed in escrow (in shares)		12,425,000

- Income (Loss) Per Share Reconciliation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Numerator
Income (loss) from continuing operations	$ 379	$ (9,736)	$ (6,456)	$ (22,120)
Income from discontinued operations, net of tax	0	3,840	0	6,045
Net income (loss)	379	(5,896)	(6,456)	(16,075)
Net income (loss) attributable to non-controlling interest, net of tax	143	0	(505)	0
Total income (loss) attributable to WSC	$ 236	$ (5,896)	$ (5,951)	$ (16,075)
Denominator
Average shares outstanding - basic (in shares)	78,432,274	14,545,833	77,814,456	14,545,833
Average effect of dilutive securities:
Warrants (in shares)	3,745,030	0	0	0
Restricted stock awards (in shares)	2,782	0.00	0.00	0.00
Average shares outstanding - diluted (in shares)	82,180,086	14,545,833	77,814,456	14,545,833
Income (loss) per share - basic
Continuing operations - basic (in USD per share)	$ 0.00	$ (0.67)	$ (0.08)	$ (1.53)
Discontinued operations - basic (in USD per share)	0.00	0.26	0.00	0.42
Net (loss) income per share - basic (in USD per share)	0.00	(0.41)	(0.08)	(1.11)
Income (loss) per share - diluted
Continuing operations - diluted (in USD per share)	0.00	(0.67)	(0.08)	(1.53)
Discontinued operations - diluted (in USD per share)	0.00	0.26	0.00	0.42
Net (loss) income per share - diluted (in USD per share)	$ 0.00	$ (0.41)	$ (0.08)	$ (1.11)

Related Parties - Related Party Balances Included in Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Related Party Transactions [Abstract]
Receivables due from affiliates	$ 180	$ 2,863
Amounts due to affiliates	(873)	(1,235)
Total related party liabilities, net	$ (693)	$ 1,628

Related Parties - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Nov. 29, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Receivables due from affiliates		$ 180		$ 180		$ 2,863
Amounts due to affiliates		873		873		1,235
Affiliates
Related Party Transaction [Line Items]
Receivables due from affiliates		100		100		2,900
Purchases from affiliates		400	$ 200	1,700	$ 500
Affiliates \| Algeco Global
Related Party Transaction [Line Items]
Amounts due to affiliates		500		500		$ 1,200
Director
Related Party Transaction [Line Items]
Professional fees to affiliates		$ 400	$ 0	$ 1,000	$ 600
Minimum \| Affiliates
Related Party Transaction [Line Items]
Agreement term	6 months
Maximum \| Affiliates
Related Party Transaction [Line Items]
Agreement term	3 years

Related Parties - Related Party Transactions in Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Related Party Transactions [Abstract]
Leasing revenue from related parties	$ (233)	$ 0	$ (525)	$ 0
Management fees and recharge income on transactions with affiliates	0	1,502	0	151
Interest income on notes due from affiliates	0	(3,509)	0	(6,093)
Interest expense on notes due to affiliates	0	15,990	0	30,727
Total related party (income) expense, net	$ (233)	$ 13,983	$ (525)	$ 24,785

Subsequent Events - Additional Information (Details) - USD ($)					6 Months Ended
	Jul. 31, 2018	Jul. 30, 2018	Jul. 28, 2018	Jun. 21, 2018	Jun. 30, 2018	Jun. 30, 2017	Jul. 09, 2018	Dec. 31, 2017	Nov. 29, 2017
Subsequent Event [Line Items]
Cash purchase price					$ 24,006,000	$ 0
Line of Credit \| ABL Facility \| Revolving Credit Facility
Subsequent Event [Line Items]
Maximum aggregate availability					$ 600,000,000.0			$ 600,000,000.0	$ 600,000,000.0
Accordion feature									300,000,000.0
Minimum fixed charge ratio					1.00
Maximum total net leverage ratio					5.50
Excess availability under facility to trigger covenant					$ 50,000,000.0
Excess availability as a percentage of the line cap to trigger covenant					10.00%
Line of Credit \| ABL Facility \| Revolving Credit Facility \| Subsequent Event
Subsequent Event [Line Items]
Maximum aggregate availability	$ 1,350,000,000.00						$ 1,350,000,000.00
Accordion feature							$ 450,000,000.0
Minimum fixed charge ratio							1.00
Maximum total net leverage ratio							5.50
Excess availability under facility to trigger covenant							$ 135,000,000.0
Excess availability as a percentage of the line cap to trigger covenant							10.00%
Line of Credit \| US ABL Facility \| Revolving Credit Facility
Subsequent Event [Line Items]
Maximum aggregate availability									530,000,000.0
Line of Credit \| US ABL Facility \| Revolving Credit Facility \| Subsequent Event
Subsequent Event [Line Items]
Maximum aggregate availability							$ 1,200,000,000.0
Line of Credit \| US ABL Facility \| Letter of Credit
Subsequent Event [Line Items]
Maximum aggregate availability					$ 60,000,000.0
Line of Credit \| US ABL Facility \| Letter of Credit \| Subsequent Event
Subsequent Event [Line Items]
Maximum aggregate availability							75,000,000.0
Line of Credit \| US ABL Facility \| Swingline Loans
Subsequent Event [Line Items]
Maximum aggregate availability					50,000,000.0
Line of Credit \| US ABL Facility \| Swingline Loans \| Subsequent Event
Subsequent Event [Line Items]
Maximum aggregate availability							75,000,000.0
Line of Credit \| Canadian ABL Facility \| Revolving Credit Facility
Subsequent Event [Line Items]
Maximum aggregate availability									$ 70,000,000.0
Line of Credit \| Canadian ABL Facility \| Revolving Credit Facility \| Subsequent Event
Subsequent Event [Line Items]
Maximum aggregate availability							150,000,000.0
Line of Credit \| Canadian ABL Facility \| Letter of Credit
Subsequent Event [Line Items]
Maximum aggregate availability					30,000,000.0
Line of Credit \| Canadian ABL Facility \| Letter of Credit \| Subsequent Event
Subsequent Event [Line Items]
Maximum aggregate availability							60,000,000.0
Line of Credit \| Canadian ABL Facility \| Swingline Loans
Subsequent Event [Line Items]
Maximum aggregate availability					$ 25,000,000.0
Line of Credit \| Canadian ABL Facility \| Swingline Loans \| Subsequent Event
Subsequent Event [Line Items]
Maximum aggregate availability							$ 50,000,000.0
Senior Notes \| 2023 Senior Secured Notes \| Subsequent Event
Subsequent Event [Line Items]
Debt, face amount	$ 300,000,000.0
Interest rate, cash	6.875%
Senior Notes \| 2023 Senior Unsecured Notes \| Subsequent Event
Subsequent Event [Line Items]
Debt, face amount			$ 200,000,000.0
Interest rate			12.50%
Interest rate, cash			10.00%
Interest rate, paid in kind			11.50%
Equity Offering \| Subsequent Event
Subsequent Event [Line Items]
Number of shares sold (in shares)		8,000,000.0
Price of shares sold (in USD per share)		$ 16.00
Gross proceeds		$ 19,200,000
Net offering proceeds		$ 121,900,000
Underwriter's Option \| Subsequent Event
Subsequent Event [Line Items]
Number of shares sold (in shares)		1,200,000.0
Price of shares sold (in USD per share)		$ 16.00
100% of Principal \| Senior Notes \| 2023 Senior Secured Notes \| Subsequent Event
Subsequent Event [Line Items]
Redemption price	100.00%
10% of Principal \| Senior Notes \| 2023 Senior Secured Notes \| Subsequent Event
Subsequent Event [Line Items]
Redemption price	103.438%
40% of Principal \| Senior Notes \| 2023 Senior Secured Notes \| Subsequent Event
Subsequent Event [Line Items]
Redemption price	101.719%
100% of Principle, clause two \| Senior Notes \| 2023 Senior Secured Notes \| Subsequent Event
Subsequent Event [Line Items]
Redemption price	100.00%
106.875% of Principal \| Senior Notes \| 2023 Senior Secured Notes \| Subsequent Event
Subsequent Event [Line Items]
Redemption price	106.875%
Redemption percentage of aggregate principal amount	40.00%
One Year \| Senior Notes \| 2023 Senior Unsecured Notes \| Subsequent Event
Subsequent Event [Line Items]
Redemption price			100.00%
12 to 18 Months \| Senior Notes \| 2023 Senior Unsecured Notes \| Subsequent Event
Subsequent Event [Line Items]
Redemption price			102.00%
18 to 30 Months \| Senior Notes \| 2023 Senior Unsecured Notes \| Subsequent Event
Subsequent Event [Line Items]
Redemption price			104.00%
Thereafter \| Senior Notes \| 2023 Senior Unsecured Notes \| Subsequent Event
Subsequent Event [Line Items]
Redemption price			106.00%
Modular Space Holdings, Inc
Subsequent Event [Line Items]
Cash purchase price				$ 1,063,750,000
Class A Common Stock \| Modular Space Holdings, Inc
Subsequent Event [Line Items]
Warrants exercise price (in USD per share)				$ 15.50
Common Stock \| Class A Common Stock \| Modular Space Holdings, Inc
Subsequent Event [Line Items]
Common stock (in shares)				6,458,500
Warrants \| Class A Common Stock \| Modular Space Holdings, Inc
Subsequent Event [Line Items]
Common stock (in shares)				10,000,000