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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2018	Nov. 01, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q3
Entity Registrant Name	WillScot Corp
Entity Central Index Key	0001647088
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Small Business	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		100,303,156
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		8,024,419

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 9,771	$ 9,185
Trade receivables, net of allowances for doubtful accounts at September 30, 2018 and December 31, 2017 of $7,913 and $4,845, respectively	199,461	94,820
Inventories	21,348	10,082
Prepaid expenses and other current assets	20,075	13,696
Total current assets	250,655	127,783
Rental equipment, net	1,949,403	1,040,146
Property, plant and equipment, net	193,154	83,666
Goodwill	267,764	28,609
Intangible assets, net	132,519	126,259
Other non-current assets	4,200	4,279
Total long-term assets	2,547,040	1,282,959
Total assets	2,797,695	1,410,742
Liabilities and equity
Accounts payable	78,638	57,051
Accrued liabilities	79,721	48,912
Accrued interest	15,613	2,704
Deferred revenue and customer deposits	67,727	45,182
Current portion of long-term debt	1,915	1,881
Total current liabilities	243,614	155,730
Long-term debt	1,651,579	624,865
Deferred tax liabilities	146,086	120,865
Deferred revenue and customer deposits	6,673	5,377
Other non-current liabilities	19,034	19,355
Long-term liabilities	1,823,372	770,462
Total liabilities	2,066,986	926,192
Commitments and contingencies (see Note 13)
Additional paid-in-capital	2,390,188	2,121,926
Accumulated other comprehensive loss	(52,119)	(49,497)
Accumulated deficit	(1,673,749)	(1,636,819)
Total shareholders' equity	664,331	435,619
Non-controlling interest	66,378	48,931
Total equity	730,709	484,550
Total liabilities and equity	2,797,695	1,410,742
Class A Common Stock
Liabilities and equity
Common stock	10	8
Class B Common Stock
Liabilities and equity
Common stock	$ 1	$ 1

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Trade receivables, net of allowance	$ 7,913	$ 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)	100,303,156	84,644,774
Common stock outstanding (in shares)	100,303,156	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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues:
Modular leasing	$ 141,660	$ 75,320	$ 340,171	$ 217,261
Total Revenues	218,924	116,162	494,008	325,560
Costs:
Modular leasing	39,215	21,252	93,506	61,694
Depreciation of rental equipment	35,534	19,009	82,849	53,203
Gross profit (loss)	80,946	41,269	186,507	118,790
Expenses:
Selling, general and administrative	71,897	36,097	164,845	100,510
Other depreciation and amortization	3,720	1,905	7,726	5,736
Restructuring costs	6,137	1,156	7,214	2,124
Currency (gains) losses, net	(425)	(4,270)	1,171	(12,769)
Other (income) expense, net	(594)	1,001	(5,013)	1,592
Operating income	211	5,380	10,564	21,597
Interest expense	43,447	30,106	67,321	84,674
Interest income	0	(3,659)	0	(9,752)
(Loss) income from continuing operations before income tax	(43,236)	(21,067)	(56,757)	(53,325)
Income tax benefit	(6,507)	(7,632)	(13,572)	(17,770)
Loss from continuing operations	(36,729)	(13,435)	(43,185)	(35,555)
Income from discontinued operations, net of tax	0	5,078	0	11,123
Net loss	(36,729)	(8,357)	(43,185)	(24,432)
Net loss attributable to non-controlling interest, net of tax	(3,210)	0	(3,715)	0
Total loss attributable to WillScot	$ (33,519)	$ (8,357)	$ (39,470)	$ (24,432)
Net loss per share attributable to WSC - basic and diluted
Continuing operations (in USD per share)	$ (0.37)	$ (0.92)	$ (0.48)	$ (2.44)
Discontinued operations (in USD per share)	0	0.35	0	0.76
Net loss per share (in USD per share)	$ (0.37)	$ (0.57)	$ (0.48)	$ (1.68)
Weighted average shares:
Basic and diluted (in shares)	90,726,920	14,545,833	82,165,909	14,545,833
Cash dividends declared per share (in USD per share)	$ 0	$ 0	$ 0	$ 0
Modular delivery and installation
Revenues:
Total Revenues	$ 46,777	$ 24,627	$ 104,440	$ 66,580
Costs:
Modular delivery and installation	42,390	23,932	98,038	64,404
New Units
Revenues:
Total Revenues	20,920	9,609	33,584	24,491
Costs:
Cost of sales	15,089	6,916	23,780	17,402
Rental Units
Revenues:
Total Revenues	9,567	6,606	15,813	17,228
Costs:
Cost of sales	$ 5,750	$ 3,784	$ 9,328	$ 10,067

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net loss	$ (36,729)	$ (8,357)	$ (43,185)	$ (24,432)
Other comprehensive income (loss):
Foreign currency translation adjustment, net of income tax (benefit) expense of $80, $698, $(161) and $1,316 for the three and nine months ended September 30, 2018 and 2017, respectively	2,298	3,131	(82)	8,914
Comprehensive loss	(34,431)	(5,226)	(43,267)	(15,518)
Comprehensive loss attributable to non-controlling interest	(2,967)	0	(3,741)	0
Total comprehensive loss attributable to WSC	$ (31,464)	$ (5,226)	$ (39,526)	$ (15,518)

- Definition

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

+ References

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+ Details

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, income tax expense (benefit)	$ 80	$ 698	$ (161)	$ 1,316

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Operating Activities:
Net loss	$ (43,185)	$ (24,432)
Adjustments for non-cash items:
Depreciation and amortization	91,587	80,897
Provision for doubtful accounts	5,436	3,381
Gain on sale of rental equipment and other property, plant and equipment	(11,194)	(7,700)
Interest receivable capitalized into notes due from affiliates	0	(3,915)
Amortization of debt discounts and debt issuance costs	4,801	11,213
Share based compensation expense	2,225	0
Deferred income tax benefit	(14,340)	(7,683)
Unrealized currency losses (gains)	773	(12,682)
Changes in operating assets and liabilities, net of effect of businesses acquired:
Trade receivables	(26,229)	(19,228)
Inventories	(553)	748
Prepaid and other assets	173	(8,809)
Accrued interest receivable	0	(6,994)
Accrued interest payable	12,902	15,079
Accounts payable and other accrued liabilities	(11,969)	28,243
Deferred revenue and customer deposits	5,153	(1,217)
Net cash provided by operating activities	15,580	46,901
Investing Activities:
Proceeds from sale of rental equipment	21,593	18,750
Purchase of rental equipment and refurbishments	(111,505)	(82,276)
Lending on notes due from affiliates	0	(69,939)
Repayments on notes due from affiliates	0	2,151
Proceeds from the sale of property, plant and equipment	681	17
Purchase of property, plant and equipment	(3,091)	(2,938)
Net cash used in investing activities	(1,176,468)	(134,235)
Financing Activities:
Receipts from issuance of common stock	147,200	0
Receipts from borrowings	1,184,601	348,609
Receipts on borrowings from notes due to affiliates	0	75,000
Payment of financing costs	(34,770)	(10,648)
Repayment of borrowings	(135,537)	(319,678)
Principal payments on capital lease obligations	(88)	(1,606)
Net cash provided by financing activities	1,161,406	91,677
Effect of exchange rate changes on cash and cash equivalents	68	311
Net change in cash and cash equivalents	586	4,654
Cash and cash equivalents at the beginning of the period	9,185	6,162
Cash and cash equivalents at the end of the period	9,771	10,816
Supplemental Cash Flow Information:
Interest paid	28,721	60,212
Income taxes paid, net of refunds received	2,339	(400)
Capital expenditures accrued or payable	17,478	11,773
Modular Space Holdings, Inc
Investing Activities:
Acquisition of a business	(1,060,140)	0
Tyson Onsite
Investing Activities:
Acquisition of a business	$ (24,006)	$ 0

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Total	Additional Paid in Capital	Accumulated Other Comprehensive Income	Accumulated Defecit	Total Shareholder's Equity	Non Controlling Interest	Class A Common Stock	Class A Common Stock Common Stock	Class B Common Stock	Class B Common Stock Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ (24,432)
Beginning balance at Dec. 31, 2017	484,550	$ 2,121,926	$ (49,497)	$ (1,636,819)	$ 435,619	$ 48,931		$ 8		$ 1
Beginning balance (in shares) at Dec. 31, 2017							84,644,774	84,645,000	8,024,419	8,024,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(43,185)			(39,470)	(39,470)	(3,715)
Other comprehensive loss	(108)		(82)		(82)	(26)
Adoption of ASU 2018-02	0		(2,540)	2,540	0
Stock-based compensation	2,225	2,225			2,225
Issuance of common stock and contribution of proceeds to WSII	139,119	131,544			131,545	7,574		$ 1
Issuance of common stock and contribution of proceeds to WSII (in shares)								9,200,000
Acquisition of ModSpace and the effect of the related financing transactions	148,108	134,493			134,494	13,614		$ 1
Acquisition of ModSpace and the effect of the related financing transactions (in shares)								6,458,000
Ending Balance at Sep. 30, 2018	$ 730,709	$ 2,390,188	$ (52,119)	$ (1,673,749)	$ 664,331	$ 66,378		$ 10		$ 1
Ending balance (in shares) at Sep. 30, 2018							100,303,156	100,303,000	8,024,419	8,024,000

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Organization and Nature of Operations WillScot Corporation (“WillScot” and, together with its subsidiaries, the “Company”), is a leading provider of modular space and portable storage solutions in the United States (“US”), Canada and Mexico. The Company leases, sells, delivers and installs mobile offices, modular buildings and storage products through an integrated network of branch locations that spans North America. WillScot, whose Class A common shares are listed on the Nasdaq Capital Market (Nasdaq: WSC), 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”). WillScot operates and owns 91.0% of WS Holdings, and Sapphire Holding S.à r.l. (“Sapphire”), an affiliate of TDR Capital LLP (“TDR Capital”), owns the remaining 9.0%. WillScot was incorporated as a Cayman Islands exempt company under the name, Double Eagle Acquisition Corporation ("Double Eagle"), on June 26, 2015. Prior to November 29, 2017, Double Eagle was a Nasdaq-listed special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination. On November 29, 2017, Double Eagle indirectly acquired Williams Scotsman International, Inc. (“WSII”) from Algeco Scotsman Global S.à r.l., (together with its subsidiaries, the “Algeco Group”), which is majority owned by an investment fund managed by TDR Capital. As part of the transaction (the “Business Combination”), Double Eagle domesticated to Delaware and changed its name to WillScot Corporation. Additional information about the Business Combination and the Company's operations prior thereto is contained in the consolidated financial statements and notes included in WillScot's Annual Report on Form 10-K for the year ended December 31, 2017. 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 unaudited 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 nine months ended September 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 WillScot's 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 WillScot 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 WillScot 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 WillScot and WSII following the Business Combination on November 29, 2017; (iii) the assets and liabilities of WSII at their historical cost; and (iv) WillScot'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 is 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 members of the Algeco Group 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 nine months ended September 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. Subject to limited exception, WillScot will cease to be EGC on the earlier (i) the last day of the fiscal year in which WillScot’s annual gross revenues exceed $1.07 billion, (ii) the date on which the Company issues more than $1.0 billion in nonconvertible debt securities during the preceding three-year period, and (iii) the date on which WillScot is deemed to be a large accelerated filer under the SEC’s rules. Based on the recent ModSpace (defined below) acquisition described in Note 2, WillScot anticipates that its 2019 annual gross revenues will exceed $1.07 billion. WillScot also anticipates that, due in part to the amount of Class A common stock issued by WillScot to fund the ModSpace acquisition, WillScot will be deemed to be a large accelerated filer at December 31, 2019 based on the value of its Class A common stock held by non-affiliates at June 30, 2019. WillScot currently foresees remaining an EGC until December 31, 2019, but would lose EGC eligibility immediately if it were to issue additional debt and exceed the debt issuance criteria described above. 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 continues to hold 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 analyses with respect to revenue stream scoping, performed contract reviews of a representative sample of customer arrangements, developed a gap analysis and evaluated the revised disclosure requirements. The two primary lines of business impacted by the adoption are new and used sales transactions and modular leasing services transactions. The Company has substantially completed its procedures based on the new and used sales and modular leasing service transactions that occurred through the second quarter of 2018 and is not aware of any significant changes based on the work performed to date. The Company has incorporated the recently acquired Modular Space Holdings, Inc. (“ModSpace”) into the project during the third quarter of 2018. As described in Note 2, ModSpace was acquired in August 2018 and the Company has commenced workshops with key stakeholders, detailed contract reviews and a financial statement disclosure gap evaluation specific to revenue streams acquired through the acquisition. After finalizing its procedures during the fourth quarter of 2018, the Company will conclude on the level of impact that the adoption of ASC 606 will have on the consolidated financial statements, including financial statement disclosures. Specific to disclosures, the Company expects to provide additional detail regarding the disaggregation of revenue and contract balances. The Company is required to adopt the standard as of January 1, 2019 and plans to first present financial statements that reflect the adoption in the first quarter of 2019. 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 is effective for non-public entities 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. However, based on WillScot's expectation that it will cease to be an EGC as of December 31, 2019, the Company plans to adopt the new standard in the fourth quarter of 2019. Adoption of the new standard could be required earlier in 2019 if WillScot loses EGC eligibility earlier than anticipated based on other criteria. The guidance includes a number of practical expedients that the Company is evaluating and may elect to apply. The adoption of the new standard will require the Company to recognize right-of-use assets and lease liabilities that will be significant to our consolidated balance sheet. The Company will continue to evaluate the impacts of this guidance on its financial position, results of operations, and cash flows. The Company plans 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 9) and continues to evaluate the provisions of the Tax Act including guidance from the Department of Treasury and Internal Revenue Service. Additionally, the Company filed 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

9 Months Ended

Sep. 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 acquisition date fair value of the consideration transferred consisted of $24.0 million in cash consideration, net of cash acquired. The transaction was funded by borrowings under the ABL Facility (defined in Note 7).

Through September 30, 2018, the Company has recorded adjustments to the Tyson opening balance sheet, which increased rental equipment and accrued liabilities by $0.9 million and $0.1 million, respectively and decreased property, plant and equipment by $0.1 million. The offset of these adjustments was recorded to goodwill as detailed in Note 6. 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, property, plant and equipment, intangible assets, deferred tax assets and other accrued tax liabilities will be finalized during the fourth quarter of 2018.

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

Acton Acquisition

On December 20, 2017, the Company 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 provides modular space and portable storage rental services across the US. The acquisition was funded by cash on hand and borrowings under the ABL Facility.

Through September 30, 2018, the Company recorded adjustments to the Acton opening balance sheet, which increased accrued liabilities, deferred revenue, deferred tax assets and receivables by $0.8 million, $0.6 million, $0.8 million, and $2.4 million, respectively, and decreased rental equipment by $2.1 million. The offset of these adjustments was recorded to goodwill as detailed in Note 6. 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, non-indemnified liabilities, and other accrued tax liabilities will be finalized during the fourth quarter of 2018.

Pro-forma results are presented in aggregate with the ModSpace acquisition below.

ModSpace Acquisition

On August 15, 2018 (the "Closing Date"), the Company acquired ModSpace, a privately-owned provider of office trailers, portable storage units and modular buildings. The acquisition was consummated by merging a special purpose subsidiary of the Company with and into ModSpace, with ModSpace surviving the merger as a subsidiary of WSII. The Company acquired ModSpace to create long-term shareholder value driven by, among other things, economies of scale, cost synergies and revenue opportunities unique to a combination of WillScot's and ModSpace's operations, and other benefits associated with being an industry-leading specialty rental services provider.

The aggregate purchase price for ModSpace was $1.2 billion and consisted of (i) $1.1 billion in cash, (ii) 6,458,229 shares of WillScot's Class A common stock (the "Stock Consideration") with a fair market value of $95.8 million and (iii) warrants to purchase an aggregate of 10,000,000 shares of WillScot’s Class A common stock at an exercise price of $15.50 per share (the "ModSpace Warrants") with a fair market value of $52.3 million, and (iv) a working capital adjustment of $5.7 million. Of the cash consideration, $3.0 million was deposited into an escrow account to fund any post-closing adjustments from differences between the estimated working capital and the actual working capital of ModSpace at closing. The final working capital of ModSpace at closing is still being evaluated by the Company and the sellers' representative in accordance with the terms of the purchase agreement. The acquisition was funded by the net proceeds of WillScot's issuance of 9,200,000 shares of Class A common stock (see Note 8), the net proceeds of WSII’s issuance of $300.0 million in senior secured notes and $200.0 million in senior unsecured notes (see Note 7), and borrowings under the ABL Facility (see Note 7).

The purchase price has been determined to be as follows:

Purchase Price


(in thousands, except for per share amounts)	Price
Cash	$	1,054,416
Stock consideration (a)	95,796
ModSpace warrants (b)	52,310
Working capital adjustment (c)	5,724
Total purchase price	$	1,208,246

(a) The fair market value of the 6,458,229 shares issued as consideration was determined using the closing price on August 15, 2018, of $15.78 per share less a discount of 6.0%, based on a lock up agreement executed in connection with the acquisition of ModSpace.
(b) Warrants were valued assuming a fair market value of $5.23 as estimated using a Black-Scholes valuation model as of August 15, 2018.
(c) The estimated working capital adjustment as of the Closing Date was $5.7 million. The working capital amount is subject to post-close adjustments.

The acquisition date fair value of the stock consideration was estimated using a Black-Scholes valuation model. The estimated fair value of the shares are a level 3 fair value measurement. The fair value of each share 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 average expected term of the lock up period on the shares. The volatility assumption used in the Black-Scholes option-pricing model is derived from the historical daily change in the market price of the Company's common stock, as well as the historical daily changes in the market price of its peer group, based on weighting, as determined by the Company. 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.


Expected Volatility	28.6	%
Risk-free rate of interest	2.2	%
Dividend Yield	—	%
Expected life (years)	0.5

The acquisition date fair value of the warrants was estimated using a Black-Scholes valuation model. The estimated fair value of the warrants is a level 3 fair value measurement. The fair value of each warrant 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 warrants. The volatility assumption used in the Black-Scholes option-pricing model is derived from the historical daily change in the market price of the Company's common stock, as well as the historical daily changes in the market price of its peer group, based on weighting, as determined by the Company. 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.


Expected Volatility	35.0	%
Risk-free rate of interest	2.7	%
Dividend Yield	—	%
Expected life (years)	4.3

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed as of the acquisition date, August 15, 2018. The Company’s estimated fair value of ModSpace’s assets acquired and liabilities assumed on the acquisition date are determined based on preliminary valuations and analyses. Accordingly, the Company has made provisional estimates for the assets acquired and liabilities assumed. The valuation of intangible assets acquired is based on certain valuation assumptions yet to be finalized, including cash flow projections, discount rates, contributory asset charges and other valuation model inputs. The valuation of tangible long-lived assets acquired is dependent upon, among other things, refinement of the inputs in the valuation model and an analysis of the condition and estimated remaining useful lives of the assets acquired. In addition to finalizing the valuation of acquired assets, the Company is analyzing complex provisions of tax law regarding treatment of tax attributes upon ModSpace's March 2017 emergence from bankruptcy, implications of the Tax Act as well as scheduling the reversal of deferred tax balances thereof. The Company expects its analysis to be substantially complete by the close of the fourth quarter. Due to the provisional nature of the aforementioned items, the Company has not changed its judgment about the realizability of its pre-existing deferred tax assets as a result of the business combination. The provisional amounts reflected are subject to further adjustment, which may affect the fair values ascribed to goodwill, acquired intangible and tangible assets and the related deferred tax balances. Substantial completion of the requisite analyses may result in changes to acquired deferred tax liabilities which thereby may also affect the Company’s judgment about the realizability of its pre-existing deferred tax assets for which any reductions in the valuation allowance will be reflected separate from the business combination as discrete adjustments to income tax expense (benefit) in the period in which it is determined.

Purchase Price


(in thousands)	Value
Trade receivables, net (a)	$	81,055
Inventory	10,483
Prepaid expenses and other current assets	6,063
Rental equipment	866,801
Property, plant and equipment	111,681
Intangible assets
Favorable leases (b)	3,850
Trade name (b)	3,000

Total identifiable assets acquired	$	1,082,933

Accounts payable	$	30,432
Accrued liabilities	20,877
Deferred tax liabilities, net	42,531
Deferred revenue and customer deposits	16,646

Total liabilities assumed	$	110,486

Total goodwill (c)	$	235,799


(a)			The fair value of accounts receivable was $81.1 million and the gross contractual amount was $89.7 million. The Company estimated that $8.6 million is uncollectable.
(b)			The trade name has an estimated useful life of three years. The favorable lease asset has an estimated useful life of six years.
(c)			The goodwill is reflective of ModSpace’s going concern value and operational synergies that the Company expects to achieve that would not be available to other market participants. The goodwill is not deductible for income tax purposes. The goodwill is allocated to the Modular – US and Modular – Other North America segments in the amounts of $203.3 million and $32.5 million, respectively.

ModSpace has generated $65.5 million of revenue since the acquisition date, which is included in the condensed consolidated financial statements of operations for the three and nine months ended September 30, 2018.

The pro-forma information below has been prepared using the purchase method of accounting, giving effect to the Acton and ModSpace acquisitions as if they had been completed on January 1, 2017. The pro-forma information is not necessarily indicative of the Company’s results of operations had the acquisitions been completed on the above dates, 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 acquisitions, and also does not reflect additional revenue opportunities following the acquisitions.

The tables below present unaudited pro-forma consolidated statements of operations information as if ModSpace and Acton had been included in the Company’s consolidated results for the three and nine months ended September 30, 2018 and 2017:


(in thousands)	Three Months Ended September 30, 2018		Nine Months Ended September 30, 2018
WillScot revenues (a)	$	218,924	$	494,008
ModSpace revenues	81,692		312,609
Pro-forma revenues	$	300,616	$	806,617

WillScot pretax loss (a)	$	(43,236)	$	(56,757)
ModSpace pretax loss	(11,460)		(7,456)
Pretax loss before pro-forma adjustments	(54,696)		(64,213)
Pro-forma adjustments to combined pretax loss:
Impact of fair value mark-ups/useful life changes on depreciation (b)	(132)		(395)
Intangible asset amortization (c)	(250)		(750)
Interest expense (d)	(16,495)		(49,467)
Elimination of ModSpace interest (e)	4,346		20,279
Pro-forma pretax loss (f)	(67,227)		(94,546)
Income tax benefit	(10,118)		(22,608)
Pro-forma net loss	$	(57,109)	$	(71,938)


(a)			Excludes historic revenues and pre-tax income from discontinued operations. Post-acquisition ModSpace revenues and pre-tax income results are reflected in WillScot's historic revenue amounts.
(b)			Depreciation of rental equipment and non-rental depreciation were adjusted for the fair value mark-ups of equipment acquired in the ModSpace acquisition. The useful lives assigned to such equipment is preliminary and did not change significantly from the useful lives used by ModSpace.
(c)			Amortization of the trade name acquired in ModSpace acquisition.
(d)			In connection with the ModSpace acquisition, the Company drew an incremental $420.0 million on the ABL Facility and issued $300.0 million of secured notes and $200.0 million of unsecured notes. As of September 30, 2018, the weighted-average interest rate for the aforementioned borrowings was 6.54%. Interest expense includes amortization of related deferred financing fees on debt incurred in conjunction with ModSpace acquisition.
(e)			Interest on ModSpace historic debt was eliminated.
(f)			Pro-forma pretax loss includes $6.1 million and $7.2 million, $7.5 million and $14.9 million, $10.7 million and $14.8 million, of restructuring expense, integration costs, and transactions costs incurred by WillScot for the three and nine months ended September 30, 2018, respectively. Additionally, pro-forma pretax loss for the three and nine month ended September also includes $20.5 million of interest expense associated with bridge financing fees incurred in connection with the acquisition of ModSpace.
(g)			The pro-forma tax rate applied to the ModSpace pretax loss is the same as the William Scotsman effective rate for the period.


(in thousands)	Three Months Ended September 30, 2017		Nine Months Ended September 30, 2017
WillScot revenues (a)	$	116,162	$	325,560
Acton and ModSpace revenues (b)	151,434		407,331
Pro-forma revenues	$	267,596	$	732,891

WillScot pretax loss (a)	$	(21,067)	$	(53,325)
Acton and ModSpace pretax income (loss) (b)	6,843		(108,295)
Pro-forma pretax loss	(14,224)		(161,620)
Pro-forma adjustments to combined pretax loss:
Impact of fair value mark-ups/useful life changes on depreciation (c)	(746)		(1,959)
Intangible asset amortization (d)	(427)		(1,281)
Interest expense (e)	(19,255)		(57,745)
Elimination of Acton and ModSpace interest (f)	8,936		36,702
Pro-forma pretax loss	(25,716)		(185,903)
Income tax benefit (g)	(9,316)		(61,950)
Pro-forma loss from continuing operations (h)	(16,400)		(123,953)
Income from discontinued operations	5,078		11,123
Pro-forma net loss	$	(11,322)	$	(112,830)


(a)			Excludes historic revenues and pre-tax income from discontinued operations. Includes historic corporate and other SG&A expenses related to Algeco Group costs, which were $7.6 million and $15.7 million for the three and nine months ended September 30, 2017, respectively. Post-acquisition ModSpace revenues and pre-tax income results are reflected in WillScot's historic revenue amounts.
(b)			Historic Acton revenues were $24.5 million and $71.9 million and historic ModSpace revenues were $126.9 million and $335.4 million, respectively, for the three and nine months ended September 30, 2017. Historic Acton pretax income was $0.9 million and $0.6 million and historic ModSpace pretax income was $5.9 million and pretax loss was $108.9 million, respectively, for the three and nine months ended September 30, 2017.
(c)			Depreciation of rental equipment and non-rental depreciation were adjusted for the fair value mark-ups of equipment acquired in the Acton and ModSpace acquisitions. The useful lives assigned to such equipment did not change significantly from the useful lives used by Acton and ModSpace.
(d)			Amortization of the trade names acquired in Acton and ModSpace acquisitions.
(e)			In connection with the Acton acquisition, the Company drew $237.1 million on the ABL Facility. As of September 30, 2018, the weighted-average interest rate of ABL borrowings was 4.65%. In connection with the ModSpace acquisition, the Company drew an incremental $420.0 million on the ABL Facility and issued $300.0 million of secured notes and $200.0 million of unsecured notes. The weighted-average interest rate of all ModSpace acquisition borrowings was 6.54%. Interest expense includes amortization of related deferred financing fees on debt incurred in conjunction with ModSpace acquisition.
(f)			Interest on Acton and ModSpace historic debt was eliminated. Historic Acton interest was $1.4 million and $3.9 million and historic ModSpace interest was $7.5 million and $32.8 million, respectively, for the three and nine months ended, September 30, 2017.
(g)			The pro-forma tax rate applied to the Acton and ModSpace pretax income (loss) are the same as the WillScot effective rate for the period.
(h)			Pro-forma pretax loss includes $5.2 million and $6.1 million of Business Combination transactions costs incurred by WillScot for the three and nine months ended September 30, 2017, respectively

Transaction and Integration Costs

The Company incurred $7.5 million and $14.9 million in integration costs associated with the Tyson, Acton, and ModSpace acquisitions within selling, general and administrative expenses ("SG&A") for the three and nine months ended September 30, 2018, respectively. The Company incurred $10.7 million and $14.8 million in transaction costs related to the ModSpace acquisition for the three and nine months ended September 30, 2018, respectively.

Discontinued Operations

9 Months Ended

Sep. 30, 2018

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued OperationsWSII’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 16. The Company also had rental unit sales to Target Logistics during the third quarter which is disclosed in Note 16.

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 nine months ended September 30, 2017 and has no impact on the financial statements in 2018.

Results from Discontinued Operations

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


(in thousands)	Three Months Ended September 30, 2017		Nine Months Ended September 30, 2017
Remote accommodations revenue	$	36,767	$	95,332
Rental unit sales	1,522		1,522
Remote accommodations costs of leasing and services	16,621		41,359
Rental unit cost of sales	885		885
Depreciation of rental equipment	5,653		18,195
Gross profit	15,130		36,415
Selling, general and administrative expenses	3,307		9,838
Other depreciation and amortization	1,255		3,763
Restructuring costs	803		1,573
Other income, net	(56)		(96)
Operating profit	9,821		21,337
Interest expense	654		2,074
Income from discontinued operations, before income tax	9,167		19,263
Income tax expense	4,089		8,140
Income from discontinued operations, net of tax	$	5,078	$	11,123

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


(in thousands)	Three Months Ended September 30, 2017		Nine Months Ended September 30, 2017
Remote accommodations revenue:
Lease revenue	$	14,979	$	43,556
Service revenue	21,788		51,776
Total remote accommodations revenue	$	36,767	$	95,332

Remote accommodation costs:
Cost of leases	$	2,329	$	6,529
Cost of services	14,292		34,830
Total remote accommodations costs of leasing and services	$	16,621	$	41,359

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 nine months ended September 30, 2017 were as follows:


(in thousands)	September 30, 2017
Depreciation and amortization	$	21,958
Capital expenditures	$	6,855

Inventories

9 Months Ended

Sep. 30, 2018

Inventory Disclosure [Abstract]

Inventories

Inventories at the respective balance sheet dates consisted of the following:


(in thousands)	September 30, 2018		December 31, 2017
Raw materials and consumables	$	19,107	$	10,082
Work in process	2,241		—
Total inventories	$	21,348	$	10,082

Rental Equipment, net

9 Months Ended

Sep. 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)	September 30, 2018		December 31, 2017
Modular units and portable storage	$	2,326,909	$	1,385,901
Value added products	88,642		59,566
Total rental equipment	2,415,551		1,445,467
Less: accumulated depreciation	(466,148)		(405,321)
Rental equipment, net	$	1,949,403	$	1,040,146

During the three and nine months ended September 30, 2018, the Company received $0.0 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 $0.0 million and $4.8 million which are reflected in other (income) expense, net, on the condensed consolidated statements of operations for the three and nine months ended September 30, 2018, respectively.

Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

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 businesses	206,667		32,538		239,205
Changes to preliminary purchase price allocations	(396)		—		(396)
Effects of movements in foreign exchange rates	—		346		346
Balance at September 30, 2018	$	234,880	$	32,884	$	267,764

As described in Note 2, the Company acquired ModSpace in August 2018. A preliminary valuation of the acquired net assets of ModSpace resulted in the recognition of $203.3 million and $32.5 million of goodwill in the Modular - US segment and Modular - Other North America segment, which the Company expects will be non-deductible for income tax purposes. The Company expects to finalize the valuation of the acquired net assets of ModSpace within the one-year measurement period from the date of acquisition.

As described 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 nine months ended September 30, 2018, the Company made a $0.3 million and $0.7 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 non-indemnified liabilities.

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 14, for the year ended December 31, 2017. During the three months ended September 30, 2018, the Company made a $1.7 million net adjustment that increased the acquired net assets of Acton, primarily due to further evaluation of insurance related receivables. During the nine months ended September 30, 2018, the Company made net adjustments of

$0.3 million that decreased the acquired net assets of Acton, due to further evaluation of rental equipment and non-indemnified liabilities partially offset by changes in insurance-related receivables and deferred tax assets.

The gross carrying amount, accumulated amortization and net book value ("NBV") of the intangible assets at the respective balance sheet dates consisted of the following:


(in thousands)	September 30, 2018										December 31, 2017
			Gross Carrying Amount		Accumulated Amortization		NBV		Gross Carrying Amount		Accumulated Amortization		NBV
Intangible assets subject to amortization:
Favorable lease rights	$	4,401	$	(60)	$	4,341	$	551	$	—	$	551
Acton and ModSpace trade names	3,708		(530)		3,178		708		—		708
Total intangible assets subject to amortization	$	8,109	$	(590)	$	7,519	$	1,259	$	—	$	1,259

Indefinite-lived intangible assets:
Trade names	$	125,000	$	—	$	125,000	$	125,000	$	—	$	125,000
Total intangible assets other than goodwill	$	133,109	$	(590)	$	132,519	$	126,259	$	—	$	126,259

As described in Note 2, the Company acquired ModSpace in August 2018, and preliminarily allocated $3.0 million and $3.9 million to definite-lived intangible assets, related to the ModSpace trade name and favorable lease rights, to the Modular - US segment. The trade name has an estimated useful life of three years and the favorable lease asset has an estimated useful life of six years. The Company expects the intangibles to be non-deductible for income tax purposes. The Company expects to finalize the valuation of the acquired net assets of ModSpace, including the related intangible assets, within the one-year measurement period from the date of acquisition.

Debt

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Debt

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


(in thousands, except rates)	Interest rate	Year of maturity	September 30, 2018		December 31, 2017
2022 Secured Notes	7.875%	2022	$	291,853	$	290,687
2023 Secured Notes	6.875%	2023	293,637		—
Unsecured Notes	10.000%	2023	198,882		—
US ABL Facility	Varies	2022	830,573		297,323
Canadian ABL Facility (a)	Varies	2022	—		—
Capital lease and other financing obligations			38,549		38,736
Total debt			1,653,494		626,746
Less: current portion of long-term debt			(1,915)		(1,881)
Total long-term debt			$	1,651,579	$	624,865

(a) As of September 30, 2018, the Company had $1.5 million of outstanding principal borrowings on the Canadian ABL Facility and $3.3 million of related debt issuance costs. $1.5 million of the related debt issuance costs are recorded as a direct offset against the principal of the Canadian ABL Facility and the remaining $1.8 million, in excess of the principal, has been included in other non-current assets on the condensed consolidated balance sheet. 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 $8.7 million and $23.2 million related to the Algeco Group Revolver was included in interest expense for the three and nine months ended September 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 provided a senior secured revolving credit facility in the initial aggregate principal amount of up to $600.0 million. The ABL Facility matures on May 29, 2022.

In July and August 2018, the Company entered into three amendments (the "ABL Amendments") to the ABL Facility that, among other things, (i) permitted the ModSpace acquisition and the Company’s financing thereof, (ii) increased the ABL Facility limit to $1.425 billion in the aggregate, with an accordion feature allowing up to $1.8 billion of capacity, and (iii) increased certain thresholds, basket sizes and default and notice triggers to account for the Company’s increased scale following the ModSpace acquisition.

After giving effect to the ABL Amendments, the ABL Facility, which matures on May 29, 2022, consists of (i) a $1.285 billion asset-backed revolving credit facility (the “US ABL Facility”) for WSII and certain of its domestic subsidiaries (the “US Borrowers”), (ii) a $140.0 million asset-based revolving credit facility (the “Canadian ABL Facility”) for certain Canadian subsidiaries of WSII (the “Canadian Borrowers,” and together with the US Borrowers, the “Borrowers”), and (iii) an accordion feature that permits the Borrowers to increase the lenders’ commitments in an aggregate amount not to exceed $375.0 million, subject to the satisfaction of customary conditions, 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. At inception of the ABL Facility until March 31, 2018, the applicable margin was fixed at 2.50% for LIBOR borrowings and 1.50% for base rate borrowings. 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 September 30, 2018, the weighted average interest rate for borrowings under the ABL Facility was 4.65%.

Borrowing availability under the US ABL Facility and the Canadian ABL Facility is equal to the lesser of (i) with respect to US Borrowers, $1.285 billion and the US Borrowing Base (defined below) (the “US Line Cap”), and (ii) with respect to the Canadian Borrower, $140.0 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 September 30, 2018, the Line Cap was $1.425 billion and the Borrowers had $552.9 million of available borrowing capacity under the ABL Facility, including $414.5 million under the US ABL Facility and $138.4 million under the Canadian ABL Facility. At December 31, 2017, prior to the ABL Amendments, 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 $75.0 million of standby letters of credit and up to $75.0 million of swingline loans, and borrowing capacity under the Canadian ABL Facility is made available for up to $60.0 million of standby letters of credit, and $50.0 million of swingline loans. Letters of credit and bank guarantees carried

fees of 2.625% at September 30, 2018 and December 31, 2017. The Company had issued $13.0 million and $8.9 million of standby letters of credit under the ABL Facility at September 30, 2018 and December 31, 2017.

The ABL Facility requires the Borrowers to maintain a (i) minimum interest coverage ratio of 2.00:1.00 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) $135.0 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 September 30, 2018.

The Company had $859.0 million and $310.0 million in outstanding principal under the ABL Facility at September 30, 2018 and December 31, 2017, respectively.

The ABL Amendments were treated as a debt modification to the ABL Facility under ASC 470-50, Debt, Modifications and Extinguishments. All ABL Facility lenders prior to the ABL Amendments are continuing lenders after giving effect to the ABL Amendments. The Company incurred an additional $19.0 million in debt issuance costs and discounts associated with the ABL Amendments that have been deferred and will be amortized through the remaining period until the maturity date of the ABL Facility. Debt issuance costs and discounts of $28.5 million and $12.7 million are included in the carrying value of the ABL Facility at September 30, 2018 and December 31, 2017, respectively.

Interest expense of $7.6 million and $15.8 million related to the ABL Facility was included in interest expense for the three and nine months ended September 30, 2018.

2022 Senior Secured Notes

WSII has $300.0 million aggregate principal amount of 7.875% senior secured notes due December 15, 2022 (the “2022 Secured 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.

Before December 15, 2019, WSII may redeem the 2022 Secured Notes at a redemption price equal to 100% of the principal amount, plus a customary make whole premium for the 2022 Secured 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 the 2022 Secured Notes on any applicable redemption date, as calculated by the Company, is the greater of (i) 100% of the then outstanding principal amount of the 2022 Secured Notes; 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 2022 Secured Notes 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 2022 Secured Notes.

Before December 15, 2019, WSII may redeem up to 40% of the aggregate principal amount of the 2022 Secured Notes at a price equal to 107.875% of the principal amount of the 2022 Secured 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 2022 Secured 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 2022 Secured Notes.

On or after December 15, 2019, WSII, may redeem the 2022 Secured 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 holders' right 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 2022 Secured 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 WillScot or any restricted subsidiary of WSII; selling, leasing or transferring any of its property or assets to WillScot 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. On August 15, 2018, in conjunction with the ModSpace acquisition and related debt issuances, WSII entered a supplemental indenture to, among other things, join ModSpace and its domestic subsidiaries as guarantors of the 2022 Secured Notes.

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 September 30, 2018 and December 31, 2017.

Unamortized debt issuance costs pertaining to the 2022 Secured Notes was $8.1 million and $9.3 million as of September 30, 2018 and December 31, 2017, respectively.

2023 Senior Secured Notes

On August 6, 2018, a special purpose subsidiary of WSII completed a private offering of $300.0 million in aggregate principal amount of its 6.875% senior secured notes due August 15, 2023 (“2023 Secured Notes”). The issuer entered into an indenture dated August 6, 2018 with Deutsche Bank Trust Company Americas, as trustee (“2023 Secured Notes Indenture”), which governs the terms of the 2023 Secured Notes. In connection with the ModSpace acquisition, the issuer merged with and into WSII and WSII assumed the 2023 Secured Notes. Interest is payable semi-annually on February 15 and August 15 of each year, beginning February 15, 2019.

WSII may redeem the 2023 Secured Notes at any time before August 15, 2020 at a redemption price equal to 100% of the principal amount thereof, plus a customary make whole premium for the 2023 Secured Notes being redeemed, plus accrued and unpaid interest, if any, to but not including the redemption date. Before August 15, 2020, WSII may redeem up to 40% of the aggregate principal amount of the 2023 Secured Notes at a price equal to 106.875% of the principal amount of the 2023 Secured 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. WSII may also redeem up to 10% of the aggregate principal amount of the 2023 Secured Notes at any time prior to the second anniversary of the closing date of this offering at a redemption price equal to 103% of the principal amount of the 2023 Secured Notes being redeemed during each twelve-month period commencing with the issue 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 2023 Secured Notes.

On and after August 15, 2020, WSII may redeem the 2023 Secured 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 holders' right to receive interest due on an interest payment date falling on or prior to the redemption date), if redeemed during the 12 month period beginning on August 15 of each of the years set forth below.


Year	Redemption Price
2020	103.938	%
2021	101.969	%
2022 and thereafter	100.000	%

The 2023 Secured Notes are unconditionally guaranteed by each of WSII’s direct and indirect domestic subsidiaries and WSII’s parent, WS Holdings (collectively the “Note Guarantors”). WillScot is not a guarantor of the 2023 Secured Notes. The Note Guarantors and certain of the Company's non-US subsidiaries are guarantors or borrowers under the ABL Facility. These guarantees are secured by a second priority security interest in substantially all of the assets of WSII and the Note Guarantors (subject to customary exclusions) and are subordinated to the Company's obligations under the ABL Facility.

The 2023 Secured 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 WillScot or any restricted subsidiary of WSII; selling, leasing or transferring any of its property or assets to WillScot 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 Company incurred debt issuance costs and discounts of $6.5 million in connection with the 2023 Secured Notes. Debt issuance costs and discounts of $6.4 million are included in the carrying value of the debt at September 30, 2018.

2023 Senior Unsecured Notes

On August 3, 2018, a special purpose subsidiary of WSII completed a private offering of $200.0 million in aggregate principal amount of its senior unsecured notes due November 15, 2023 (the “Unsecured Notes”). The issuer entered into an indenture with Deutsche Bank Trust Company Americas, as trustee (the “Unsecured Notes Indenture”), which governs the terms and conditions of the Unsecured Notes. In connection with the ModSpace acquisition, the issuer merged with and into WSII and WSII assumed the Unsecured Notes.

The Unsecured Notes bear interest at a rate of 10% per annum if paid in cash (or if paid in kind, 11.5% per annum) for any interest period ending on or before February 15, 2021, and thereafter are payable solely in cash at an increased rate per annum of 12.5%. Interest is payable semi-annually on February 15 and August 15 of each year, beginning February 15, 2019.

The Unsecured Notes are not prepayable until February 15, 2019. From time to time during the period from February 15, 2019 through August 14, 2019, WSII may redeem the Unsecured Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Unsecured Notes, plus the Applicable Premium (as defined in the Unsecured Notes Indenture) as of, and accrued and unpaid interest to, but not including the redemption date (subject to the holders' right to receive interest due on an interest payment date falling on or prior to the redemption date); provided, that if the Unsecured Notes are being redeemed in part, such redemption will not reduce the aggregate principal amount of the Unsecured Notes outstanding below $50.0 million (together with any PIK Interest in respect thereof). If WSII undergoes a change of control or sells certain of its assets, WSII may be required to offer to repurchase the Unsecured Notes.

At any time and from time to time on and after August 15, 2019, WSII, at its option, may redeem the Unsecured 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 Holders (as defined therein) 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 periods referred to below, beginning on August 15, 2019; provided however, that if the Unsecured Notes are being redeemed in part, such redemption will not reduce the aggregate principal amount of the Unsecured Notes outstanding below $50.0 million (together with any PIK Interest in respect thereof).


Year	Redemption Price
August 15, 2019 to February 14, 2020	102.000	%
February 15, 2020 to February 14, 2021	104.000	%
February 15, 2021 and thereafter	106.000	%

The Unsecured Notes are unconditionally guaranteed by each Note Guarantor. These guarantees are senior, unsecured obligations of the Note Guarantors (except that the guarantee of the Unsecured Notes provided by WillScot Equipment II, LLC, which holds certain of WSII’s uncertificated assets in the United States, are subordinated to its obligations under the ABL Facility).

The Unsecured 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 WillScot or any restricted subsidiary of WSII; selling, leasing or transferring any of its property or assets to WillScot 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.

grant the US Borrowers continued flexibility to operate and develop their businesses. The Company is in compliance with these covenants and restrictions as of September 30, 2018.

The Company incurred debt issuance costs and discounts of $1.1 million in connection with the issuance of the Unsecured Notes. Debt issuance costs and discounts of $1.1 million are included in the carrying value of the Unsecured Notes at September 30, 2018.

Bridge Financing Fees

In connection with the ModSpace acquisition, the Company incurred bridge financing fees of $20.5 million, included within interest expense in the condensed consolidated statement of operations, for the three and nine months ended September 30, 2018.

Capital Lease and Other Financing Obligations

The Company’s capital lease and financing obligations primarily consisted of $38.4 million and $38.5 million under sale-leaseback transactions and $0.1 million and $0.2 million of capital leases at September 30, 2018 and December 31, 2017, respectively. The Company’s capital lease and financing obligations are presented net of $1.6 million and $1.8 million of debt issuance costs at September 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

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 nine months ended September 30, 2018.

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 $16.7 million and $48.0 million associated with these notes due to affiliates is reflected in interest expense in the consolidated statement of operations for the three and nine months ended September 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 nine months ended September 30, 2017, the Company recognized $3.7 million and $9.8 million, respectively, of interest income related to the loans.

Equity

9 Months Ended

Sep. 30, 2018

Equity [Abstract]

Equity

Common Stock

On July 30, 2018, WillScot closed a public offering of 8,000,000 shares of its Class A common stock at an offering price of $16.00 per share. On August 10, 2018, the underwriters exercised their right to purchase an additional 1,200,000 shares at the public offering price. The net offering proceeds, including the exercise of the over-allotment option, were $139.0 million, after deducting discount and offering expenses of $8.2 million. The Company used the proceeds to fund the ModSpace acquisition and to pay related fees and expenses.

As disclosed in Note 2, on August 15, 2018, WillScot issued 6,458,229 unregistered shares of its Class A common stock, par value $0.0001 per share, to former ModSpace shareholders as part of the consideration paid in connection with the ModSpace acquisition. In connection with the issuance, WillScot entered into a registration rights agreement dated July 26, 2018, under which WillScot granted customary registration rights to the holders of the unregistered common shares. Subject to limited exception, the unregistered shares issued to former ModSpace shareholders may not be sold or otherwise transferred prior to the six-month anniversary of the issuance date.

On September 21, 2018, the Company filed a registration statement with the SEC under which 10,373,102 of unregistered shares of WillScot’s Class A common stock would be registered under a retail shelf registration statement. On November 2, 2018, the Company filed an amendment to, among other things, increase the number of registered Class A common shares available for sale by the selling shareholders from 10,373,102 to 61,865,946 shares, approximately 5.8 million of which are subject to transfer restrictions until February 15, 2019.

Warrants

On July 10, 2018, the Company was notified that its public warrants would be delisted from the Nasdaq Capital Market (“Nasdaq”) based on the Company’s failure to satisfy a minimum holder requirement applicable to the warrants. Trading of the public warrants on Nasdaq was suspended on July 12, 2018, and they were removed from Nasdaq listing on October 8, 2018.

As disclosed in Note 2, on August 15, 2018, WillScot issued the ModSpace Warrants to the former shareholders as part of the ModSpace acquisition. Each ModSpace Warrant entitles the holder thereof to purchase one share of WillScot Class A common stock at an exercise price of $15.50 per share, subject to potential adjustment. Subject to limited exception, the ModSpace Warrants are not exercisable or transferable until the six-month anniversary of the issuance date, and the ModSpace Warrants expire on November 29, 2022. Under a registration rights agreement dated July 26, 2018, WillScot agreed to file a registration statement, and to use its reasonable best efforts to cause the registration statement to become effective, by the six-month anniversary of the issuance date.

Accumulated Other Comprehensive Loss

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


(in thousands)	Foreign Currency Translation Adjustment
Balance at December 31, 2017	$	(49,497)
Total other comprehensive loss	(82)
Reclassifications to accumulated deficit^(a)	(2,540)
Balance at September 30, 2018	$	(52,119)


(in thousands)	Foreign Currency Translation Adjustment
Balance at December 31, 2016	$	(56,928)
Total other comprehensive loss	8,914
Balance at September 30, 2017	$	(48,014)

(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 nine months ended September 30, 2018 and September 30, 2017.

Non-Controlling Interest

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


(in thousands)	Total
Balance at December 31, 2017	$	48,931
Net loss attributable to non-controlling interest	(3,715)
Other comprehensive loss	(26)
Issuance of common stock and contribution of proceeds to WSII	7,574
Acquisition of ModSpace and the effect of the related financing transactions	13,614
Balance at September 30, 2018	$	66,378

As disclosed under Common Stock above, during the three months ended September 30, 2018, WillScot issued 9,200,000 shares of Class A common stock through an underwritten public offering, the proceeds of which were immediately contributed down through WS Holdings to WSII for purposes of funding part of the ModSpace acquisition. Sapphire waived its preemptive right to participate in the public offering and pursuant to the shareholders agreement entered into by WS Holdings' shareholders, Sapphire's ownership in WS Holdings was adjusted from 10% to 9% accordingly. As disclosed in Note 2, the

Company closed on the ModSpace Acquisition that resulted in the contribution of ModSpace's net assets of $972.4 million to WSII. The net impact of the transactions above, resulted in a non-recurring adjustment of $21.2 million to additional paid in capital and non-controlling interest on the condensed consolidated balance sheets. Despite the dilution in the non-controlling interest ownership in WS Holdings, the adjustment increases the non-controlling interest equity as a result of the significant increase in net assets from the ModSpace acquisition.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recorded an income tax benefit of approximately $6.5 million and $13.6 million for the three and nine months ended September 30, 2018, respectively, and $7.6 million and $17.8 million for the same periods of 2017. The Company’s effective tax rate (“ETR”) for the three months ended September 30, 2018 and 2017 was 15.0% and 36.2%, respectively, and 23.9% and 33.3% for the nine months ended September 30, 2018 and 2017, respectively. The Company’s estimated annual ETR ("EAETR") of 14.8% on the forecasted pre-tax loss is lower than the US statutory rate of 21.0% due to certain offsets to the overall tax benefit, namely: (1) a partial valuation allowance, $8.0 million tax expense, due to the limitation on the deductibility of interest expense estimated for the current year partially offset by reduction to the deferred tax liability, $2.3 million tax benefit, established for the book over tax basis difference for the Company's investment in its Canadian subsidiary and (2) a gross permanent disallowance, $6.6 million, of which $5.7 million relates to the non-deductibility of certain transaction costs in relation to the ModSpace acquisition. The Company’s ETR for the three months ended September 30, 2018 of 15.0% is comparable to its EAETR due to minimal discrete items for the quarter of $0.6 million, which is primarily attributable to adjustments to deferred taxes for legislation enacted in certain state taxing jurisdictions during the quarter, notably, in New Jersey. The Company’s ETR for the nine months ended September 30, 2018 of 23.9% is higher than the EAETR due to $5.3 million of discrete tax benefit recorded year to date, of which a $4.3 million tax benefit is attributable to a reduction in our net state deferred tax liability in Maryland due to change in tax law enacted in the second quarter. In addition, to the foregoing, the Company also recognized tax expense of $0.1 million and tax benefit of $0.3 million for the three and nine months ended September 30, 2018, respectively, related to foreign currency gains and losses. For the three and nine months ended September 30, 2017, the Company recognized tax expense of $1.6 million and $4.8 million, respectively, 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. As of September 30, 2018, a $0.6 million tax benefit has been recorded in relation to tax reform guidance under SAB 118. As noted above, the Company recorded a discrete benefit of $4.3 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

9 Months Ended

Sep. 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:


	September 30, 2018														December 31, 2017
	Carrying Amount		Fair Value										Carrying Amount		Fair Value
(in thousands)					Level 1		Level 2		Level 3						Level 1		Level 2	Level 3
Financial liabilities not measured at fair value
US ABL Facility (a)	$	830,573	$	—	$	857,500	$	—	$	297,323	$	—	$	310,000	$	—
Canadian ABL Facility (a)	—		—		1,549		—		—		—		—		—
2022 Secured Notes (a)	291,853		—		310,416		—		290,687		—		310,410		—
2023 Secured Notes (a)	293,637		—		298,185		—		—		—		—		—
Unsecured Notes (a)	198,882		—		204,210		—		—		—		—		—
Total	$	1,614,945	$	—	$	1,671,860	$	—	$	588,010	$	—	$	620,410	$	—

(a) See Note 7 - Debt.

There were no transfers of financial instruments between the three levels of the fair value hierarchy during the three and nine months ended September 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 2022 Secured Notes, the 2023 Secured Notes and the Unsecured 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

9 Months Ended

Sep. 30, 2018

Restructuring and Related Activities [Abstract]

Restructuring

The Company incurred costs associated with restructuring plans designed to streamline operations and reduce costs of $6.1 million and $1.2 million and $7.2 million and $2.1 million net of reversals, during the three and nine months ended September 30, 2018 and 2017, respectively. The following is a summary of the activity in the Company’s restructuring accruals for the three and nine months ended September 30, 2018 and 2017:


	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2018		2017		2018		2017
Balance at beginning of the period	$	967	$	2,130	$	227	$	1,793
Charges during the period	6,137		1,156		7,214		2,124
Cash payments during the period	(3,661)		(803)		(3,991)		(1,442)
Effects of movements in foreign exchange rates	5		7		(2)		15
Balance at end of period	$	3,448	$	2,490	$	3,448	$	2,490

The restructuring charges for the three and nine months ended September 30, 2018 relate primarily to employee termination costs and lease exit costs in connection with the integration of Acton, Tyson, and ModSpace. As part of the restructuring plans, 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 commencement of the restructuring plans to the actual date of termination. The Company anticipates that the remaining actions contemplated under the $3.4 million accrual as of September 30, 2018, will be substantially completed by the end of the third quarter of 2019.

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

Segments

The $6.1 million and $1.2 million of restructuring charges for the three months ended September 30, 2018 and 2017 includes: $5.9 million and $0.3 million of charges pertaining to the Modular - US segment; $0.2 million and $0.0 million of charges pertaining to the Modular - Other North America segment; and $0.0 million and $0.9 million of charges pertaining to Corporate and other.

The $7.2 million and $2.1 million of restructuring charges for the nine months ended September 30, 2018 and 2017 includes: $7.0 million and $0.2 million of charges pertaining to the Modular - US segment; $0.2 million and $0.0 million of charges pertaining to the Modular - Other North America segment; and $0.0 million and $1.9 million of charges pertaining to Corporate and other.

Stock-Based Compensation

9 Months Ended

Sep. 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 three months ended September 30, 2018, no RSAs, RSUs or stock options were granted under the Plan. During the nine months ended September 30, 2018, 27,675 RSAs, 921,730 RSUs and 589,257 stock option awards were granted under the Plan. During the three and nine months ended September 30, 2018, 0 and 35,050 RSUs were forfeited.

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 the Company's 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 September 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 nine months ended September 30, 2018:


	Number of Shares	Weighted-Average Grant Date Fair Value
Balance, December 31, 2017	—	$	—
Granted	27,675	13.60
Forfeited	—	—
Balance, September 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 $0.2 million for the three and nine months ended September 30, 2018, respectively. At September 30, 2018, unrecognized compensation cost related to RSAs totaled $0.2 million and is expected to be recognized over the remaining six-month vesting period.

Restricted Stock Units

The following table summarizes the Company's RSU award activity for the nine months ended September 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, September 30, 2018	886,680	$	13.60

Compensation expense for RSUs recognized in SG&A on the condensed consolidated statements of operations was $0.8 million and $1.6 million for the three and nine months ended September 30, 2018, respectively, with associated tax benefits of $0.2 million and $0.4 million for the three and nine months ended September 30, 2018, respectively. At September 30, 2018, unrecognized compensation cost related to RSUs totaled $10.5 million and is expected to be recognized over a remaining period of 3.5 years.

Stock Option Awards

The following table summarizes the Company's stock option activity for the nine months ended September 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, September 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 $0.4 million for the three and nine months ended September 30, 2018, respectively, with associated tax benefits of $0.1 million and $0.1 million for the three and nine months ended September 30, 2018, respectively. At September 30, 2018, unrecognized compensation cost related to stock option awards totaled $2.8 million and is expected to be recognized over a remaining period of 3.5 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	9 Months Ended
Commitments and Contingencies	Sep. 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.

Segment Reporting

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Segment Reporting

Segment ReportingThe 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 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.

As discussed in Note 6, the net assets acquired from ModSpace were allocated to both the Modular - US and Modular - Other North America segments. The US operations of ModSpace are included in the Modular - US segment and the Canadian operations of ModSpace are included in the Modular - Other North America segment. The operations and net assets acquired from Acton and Tyson are both included in the Modular - US segment.

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 nine months ended September 30, 2018 and 2017, respectively:


	Three Months Ended September 30, 2018
(in thousands)	Modular - US		Modular - Other North America		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	128,007	$	13,653	$	141,660
Modular delivery and installation	41,830		4,947		46,777
Sales:
New units	19,193		1,727		20,920
Rental units	8,595		972		9,567
Total Revenues	$	197,625	$	21,299	$	218,924

Costs:
Cost of leasing and services:
Modular leasing	$	36,204	$	3,011	$	39,215
Modular delivery and installation	37,782		4,608		42,390
Cost of sales:
New units	13,905		1,184		15,089
Rental units	5,025		725		5,750
Depreciation of rental equipment	31,702		3,832		35,534
Gross profit	$	73,007	$	7,939	$	80,946
Adjusted EBITDA	$	58,454	$	6,164	$	64,618
Other selected data:
Selling, general and administrative expense	$	66,102	$	5,795	$	71,897
Other depreciation and amortization	$	3,403	$	317	$	3,720
Capital expenditures for rental fleet	$	43,007	$	3,735	$	46,742


	Three Months Ended September 30, 2017
(in thousands)	Modular - US		Modular - Other North America		Corporate & Other		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	66,555	$	8,920	$	(155)	$	75,320
Modular delivery and installation	22,127		2,503		(3)		24,627
Sales:
New units	9,074		535		—		9,609
Rental units	5,922		765		(81)		6,606
Total Revenues	$	103,678	$	12,723	$	(239)	$	116,162

Costs:
Cost of leasing and services:
Modular leasing	$	19,000	$	2,252	$	—	$	21,252
Modular delivery and installation	21,545		2,387		—		23,932
Cost of sales:
New units	6,487		427		2		6,916
Rental units	3,204		580		—		3,784
Depreciation of rental equipment	15,676		3,333		—		19,009
Gross profit (loss)	$	37,766	$	3,744	$	(241)	$	41,269
Adjusted EBITDA	$	29,177	$	2,961	$	(2,753)	$	29,385
Other selected data:
Selling, general and administrative expense	$	24,337	$	4,116	$	7,644	$	36,097
Other depreciation and amortization	$	1,298	$	264	$	343	$	1,905
Capital expenditures for rental fleet	$	24,147	$	1,361	$	—	$	25,508


	Nine Months Ended September 30, 2018
(in thousands)	Modular - US		Modular - Other North America		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	306,920	$	33,251	$	340,171
Modular delivery and installation	93,190		11,250		104,440
Sales:
New units	30,157		3,427		33,584
Rental units	14,258		1,555		15,813
Total Revenues	$	444,525	$	49,483	$	494,008

Costs:
Cost of leasing and services:
Modular leasing	$	85,766	$	7,740	$	93,506
Modular delivery and installation	87,032		11,006		98,038
Cost of sales:
New units	21,347		2,433		23,780
Rental units	8,218		1,110		9,328
Depreciation of rental equipment	72,606		10,243		82,849
Gross profit	$	169,556	$	16,951	$	186,507
Adjusted EBITDA	$	129,170	$	12,856	$	142,026
Other selected data:
Selling, general and administrative expense	$	150,248	$	14,597	$	164,845
Other depreciation and amortization	$	6,962	$	764	$	7,726
Capital expenditures for rental fleet	$	104,462	$	7,043	$	111,505


	Nine Months Ended September 30, 2017
(in thousands)	Modular - US		Modular - Other North America		Corporate & Other		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	192,587	$	25,124	$	(450)	$	217,261
Modular delivery and installation	60,451		6,132		(3)		66,580
Sales:
New units	21,630		2,861		—		24,491
Rental units	14,634		2,675		(81)		17,228
Total Revenues	$	289,302	$	36,792	$	(534)	$	325,560

Costs:
Cost of leasing and services:
Modular leasing	$	55,713	$	5,981	$	—	$	61,694
Modular delivery and installation	58,612		5,792		—		64,404
Cost of sales:							—
New units	15,172		2,240		(10)		17,402
Rental units	8,240		1,827		—		10,067
Depreciation of rental equipment	44,030		9,173		—		53,203
Gross profit (loss)	$	107,535	$	11,779	$	(524)	$	118,790
Adjusted EBITDA	$	79,189	$	8,586	$	(10,197)	$	77,578
Other selected data:
Selling, general and administrative expense	$	72,464	$	12,393	$	15,653	$	100,510
Other depreciation and amortization	$	3,937	$	755	$	1,044	$	5,736
Capital expenditures for rental fleet	$	72,105	$	3,705	$	—	$	75,810

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 nine months ended September 30, 2018 and 2017, respectively:


	Three Months Ended September 30, 2018
(in thousands)	Modular - US		Modular - Other North America		Total
(Loss) income from continuing operations before income taxes	$	(44,519)	$	1,283	$	(43,236)
Interest expense, net (a)	42,831		616		43,447
Depreciation and amortization	35,105		4,149		39,254
Currency gains, net	(112)		(313)		(425)
Restructuring costs	5,895		242		6,137
Integration costs	7,443		10		7,453
Stock compensation expense	1,050		—		1,050
Transaction costs	10,490		182		10,672
Other (income) expense	271		(5)		266
Adjusted EBITDA	$	58,454	$	6,164	$	64,618

(a) In connection with the ModSpace acquisition, the Company incurred bridge financing fees and upfront commitment fees of $20.5 million, included within interest expense, during the three months ended September 30, 2018.


	Three Months Ended September 30, 2017
(in thousands)	Modular - US		Modular - Other North America		Corporate & Other		Total
Loss from continuing operations before income taxes	$	(1,070)	$	(1,684)	$	(18,313)	$	(21,067)
Interest expense, net	16,790		1,134		8,523		26,447
Depreciation and amortization	16,974		3,597		343		20,914
Currency gains, net	(3,834)		(104)		(332)		(4,270)
Restructuring costs	247		17		892		1,156
Transaction costs	69		—		5,164		5,233
Other expense	1		1		970		972
Adjusted EBITDA	$	29,177	$	2,961	$	(2,753)	$	29,385


	Nine Months Ended September 30, 2018
(in thousands)	Modular - US		Modular - Other North America		Total
Loss from continuing operations before income taxes	$	(55,360)	$	(1,397)	$	(56,757)
Interest expense, net (a)	65,654		1,667		67,321
Depreciation and amortization	79,568		11,007		90,575
Currency losses, net	159		1,012		1,171
Restructuring costs	6,962		252		7,214
Integration costs	14,858		10		14,868
Stock compensation expense	2,225		—		2,225
Transaction costs	14,539		251		14,790
Other expense	565		54		619
Adjusted EBITDA	$	129,170	$	12,856	$	142,026

(a) In connection with the ModSpace acquisition, the Company incurred bridge financing fees and upfront commitment fees of $20.5 million, included within interest expense, during the nine months ended September 30, 2018.


	Nine Months Ended September 30, 2017
(in thousands)	Modular - US		Modular - Other North America		Corporate & Other		Total
Loss from continuing operations before income taxes	$	(6,280)	$	(4,142)	$	(42,903)	$	(53,325)
Interest expense, net	48,302		3,350		23,270		74,922
Depreciation and amortization	47,967		9,928		1,044		58,939
Currency gains, net	(11,233)		(585)		(951)		(12,769)
Restructuring costs	247		17		1,860		2,124
Transaction costs	115		—		5,980		6,095
Other expense	71		18		1,503		1,592
Adjusted EBITDA	$	79,189	$	8,586	$	(10,197)	$	77,578

Income (Loss) Per Share	9 Months Ended
Income (Loss) Per Share	Sep. 30, 2018
Earnings Per Share [Abstract]
Income (Loss) Per Share	Income (Loss) Per Share Basic income (loss) per share (“EPS”) is calculated by dividing net income (loss) attributable to WillScot by the weighted average number of its Class A common shares outstanding during the period. Concurrently with the Business Combination, 12,425,000 of WillScot's Class A common shares were placed into escrow by shareholders and became ineligible to vote or participate in the economic rewards available to the other Class A shareholders. Escrowed shares were therefore excluded from the EPS calculation while deposited in the escrow account. 6,212,500 of the escrowed shares were released to shareholders on January 19, 2018, and the remaining escrowed shares were released to shareholders on August 21, 2018. WillScot's Class B common shares have no rights to dividends or distributions made by the Company and, in turn, are excluded from the EPS 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, restricted stock units and restricted stock awards, representing 589,257, 886,680 and 27,675 shares of Class A common stock outstanding for the three and nine months ended September 30, 2018, were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive. Warrants representing 44,750,000 shares of Class A shares for the three and nine months ended September 30, 2018, were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive. Pursuant to the exchange agreement entered into by WS Holding's shareholders, Sapphire has the right, but not the obligation, to exchange all, but not less than all, of its shares of WS Holdings into newly issued shares of WillScot’s Class A common stock in a private placement transaction. The impact of this exchange has been excluded from the computation of diluted earnings per share because the effect would have been anti-dilutive.

Related Parties

9 Months Ended

Sep. 30, 2018

Related Parties

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


(in thousands)	Financial statement line Item	September 30, 2018		December 31, 2017
Receivables due from affiliates	Prepaid expenses and other current assets	$	66	$	2,863
Amounts due to affiliates	Accrued liabilities	(1,465)		(1,235)
	Total related party liabilities, net	$	(1,399)	$	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 $0.2 million in accruals and $2.9 million in receivables due from affiliates pertaining to the Transition Services Agreement at September 30, 2018 and December 31, 2017, respectively.

The Company accrued expenses of $0.5 million and $1.2 million at September 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 nine months ended September 30, 2018 and 2017, respectively, consisted of the following:


		Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	Financial statement line item	2018		2017		2018		2017
Leasing revenue from related parties	Modular leasing revenue	$	(104)	$	—	$	(629)	$	—
Rental unit sales to related parties	Rental unit sales	(1,548)		—		(1,548)		—
Management fees and recharge income on transactions with affiliates	Selling, general & administrative expenses	—		(1,693)		—		(1,542)
Interest income on notes due from affiliates	Interest income	—		(3,659)		—		(9,752)
Interest expense on notes due to affiliates	Interest expense	—		17,191		—		47,918
Remote accommodations revenue and costs, net from affiliates	Income from discontinued operations, net of tax	—		1,327		—		1,327
	Total related party (income) expense, net	$	(1,652)	$	13,166	$	(2,177)	$	37,951

On August 22, 2018, WillScot’s majority stockholder, Sapphire, entered into a margin loan (the "Margin Loan ") under which all of its WillScot Class A common stock was pledged to secure $125.0 of borrowings under the loan agreement. WillScot is not a party to the loan agreement and has no obligations thereunder, but WillScot delivered an issuer agreement to the lenders under which WillScot has agreed to certain obligations relating to the shares pledged by Sapphire and, subject to applicable law and stock exchange rules, not to take any actions that are intended to materially hinder or delay the exercise of any remedies with respect to the pledged shares. In connection with the Margin Loan, on August 24, 2018, WSII entered into a two-year supply agreement with Target Logistics, an affiliate controlled by Sapphire, under which, subject to limited exception, WSII acquired the exclusive right to supply modular units, portable storage units, and other ancillary products ordered by the affiliate in the United States. WillScot's leasing revenue and rental unit sales associated with Target Logistics for the three and nine months ended September 30, 2018 are disclosed above. As of September 30, 2018, the 49,041,906 shares of WillScot Class A common stock pledged by Sapphire represented approximately 48.9% of WillScot’s issued and outstanding Class A shares.

The Company had capital expenditures of rental equipment purchased from related party affiliates of $1.2 million and $0.5 million for three months ended September 30, 2018 and 2017, respectively, and $3.0 million and $1.0 million during the nine months ended September 30, 2018 and 2017, respectively.

The Company paid $0.1 million and $0.2 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 September 30, 2018 and 2017, respectively, and $1.1 million and $0.8 million during the nine months ended September 30, 2018 and 2017, respectively.

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On November 6, 2018, WSII entered into an interest rate swap transaction with a financial counterparty that effectively converts $400.0 million in aggregate notional amount of its variable-rate debt into fixed-rate debt. The fixed rate paid by WSII is 3.06% and the variable rate received resets monthly to a one-month LIBOR rate. The swap transaction, which matures on May 29, 2022, was consummated to mitigate the interest rate risk inherent in WSII’s floating-rate credit agreement, which also matures on May 29, 2022, and not for trading or speculative purposes. The master agreement that governs the interest rate swap contains customary representations, warranties and covenants and may be terminated prior to its expiration.On November 8, 2018, WillScot announced the commencement of an offer to each holder of its public and private warrants to purchase one-half share of Class A common stock, par value of $0.0001 per share, of WillScot for a purchase price of $5.75 (the “Warrants”) to receive 0.1818 common shares in exchange for each Warrant tendered by the holder and exchanged pursuant to the offer (the “Offer”). The warrants issued in connection with the Company's acquisition of ModSpace, each of which is exercisable for one share of WillScot Class A common stock at an exercise price of $15.50 per share, are not subject to the Offer. The Offer is made solely upon the terms and conditions in a Prospectus/Offer to Exchange and other related offering materials that are being distributed to holders of the Warrants. The Offer will be open until 11:59 p.m., Eastern Standard Time, on December 6, 2018, or such later time and date to which WillScot may extend.

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 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 unaudited 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 nine months ended September 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 WillScot's 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 WillScot 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 WillScot 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 WillScot and WSII following the Business Combination on November 29, 2017; (iii) the assets and liabilities of WSII at their historical cost; and (iv) WillScot'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 is 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 members of the Algeco Group 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 nine months ended September 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 continues to hold 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 analyses with respect to revenue stream scoping, performed contract reviews of a representative sample of customer arrangements, developed a gap analysis and evaluated the revised disclosure requirements. The two primary lines of business impacted by the adoption are new and used sales transactions and modular leasing services transactions. The Company has substantially completed its procedures based on the new and used sales and modular leasing service transactions that occurred through the second quarter of 2018 and is not aware of any significant changes based on the work performed to date. The Company has incorporated the recently acquired Modular Space Holdings, Inc. (“ModSpace”) into the project during the third quarter of 2018. As described in Note 2, ModSpace was acquired in August 2018 and the Company has commenced workshops with key stakeholders, detailed contract reviews and a financial statement disclosure gap evaluation specific to revenue streams acquired through the acquisition. After finalizing its procedures during the fourth quarter of 2018, the Company will conclude on the level of impact that the adoption of ASC 606 will have on the consolidated financial statements, including financial statement disclosures. Specific to disclosures, the Company expects to provide additional detail regarding the disaggregation of revenue and contract balances. The Company is required to adopt the standard as of January 1, 2019 and plans to first present financial statements that reflect the adoption in the first quarter of 2019. 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 is effective for non-public entities 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. However, based on WillScot's expectation that it will cease to be an EGC as of December 31, 2019, the Company plans to adopt the new standard in the fourth quarter of 2019. Adoption of the new standard could be required earlier in 2019 if WillScot loses EGC eligibility earlier than anticipated based on other criteria. The guidance includes a number of practical expedients that the Company is evaluating and may elect to apply. The adoption of the new standard will require the Company to recognize right-of-use assets and lease liabilities that will be significant to our consolidated balance sheet. The Company will continue to evaluate the impacts of this guidance on its financial position, results of operations, and cash flows. The Company plans 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 9) and continues to evaluate the provisions of the Tax Act including guidance from the Department of Treasury and Internal Revenue Service. Additionally, the Company filed 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)

9 Months Ended

Sep. 30, 2018

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The purchase price has been determined to be as follows:

Purchase Price


(in thousands, except for per share amounts)	Price
Cash	$	1,054,416
Stock consideration (a)	95,796
ModSpace warrants (b)	52,310
Working capital adjustment (c)	5,724
Total purchase price	$	1,208,246

(a) The fair market value of the 6,458,229 shares issued as consideration was determined using the closing price on August 15, 2018, of $15.78 per share less a discount of 6.0%, based on a lock up agreement executed in connection with the acquisition of ModSpace.
(b) Warrants were valued assuming a fair market value of $5.23 as estimated using a Black-Scholes valuation model as of August 15, 2018.
(c) The estimated working capital adjustment as of the Closing Date was $5.7 million. The working capital amount is subject to post-close adjustments.

Fair Value Measurement Inputs and Valuation Techniques, Business Combination, Equity Interests Issued and Issuable


Expected Volatility	28.6	%
Risk-free rate of interest	2.2	%
Dividend Yield	—	%
Expected life (years)	0.5

Fair Value Measurement Inputs and Valuation Techniques, Warrants and Rights Outstanding


Expected Volatility	35.0	%
Risk-free rate of interest	2.7	%
Dividend Yield	—	%
Expected life (years)	4.3

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

Purchase Price


(in thousands)	Value
Trade receivables, net (a)	$	81,055
Inventory	10,483
Prepaid expenses and other current assets	6,063
Rental equipment	866,801
Property, plant and equipment	111,681
Intangible assets
Favorable leases (b)	3,850
Trade name (b)	3,000

Total identifiable assets acquired	$	1,082,933

Accounts payable	$	30,432
Accrued liabilities	20,877
Deferred tax liabilities, net	42,531
Deferred revenue and customer deposits	16,646

Total liabilities assumed	$	110,486

Total goodwill (c)	$	235,799


(a)			The fair value of accounts receivable was $81.1 million and the gross contractual amount was $89.7 million. The Company estimated that $8.6 million is uncollectable.
(b)			The trade name has an estimated useful life of three years. The favorable lease asset has an estimated useful life of six years.
(c)			The goodwill is reflective of ModSpace’s going concern value and operational synergies that the Company expects to achieve that would not be available to other market participants. The goodwill is not deductible for income tax purposes. The goodwill is allocated to the Modular – US and Modular – Other North America segments in the amounts of $203.3 million and $32.5 million, respectively.

Business Acquisition, Pro Forma Information


(in thousands)	Three Months Ended September 30, 2018		Nine Months Ended September 30, 2018
WillScot revenues (a)	$	218,924	$	494,008
ModSpace revenues	81,692		312,609
Pro-forma revenues	$	300,616	$	806,617

WillScot pretax loss (a)	$	(43,236)	$	(56,757)
ModSpace pretax loss	(11,460)		(7,456)
Pretax loss before pro-forma adjustments	(54,696)		(64,213)
Pro-forma adjustments to combined pretax loss:
Impact of fair value mark-ups/useful life changes on depreciation (b)	(132)		(395)
Intangible asset amortization (c)	(250)		(750)
Interest expense (d)	(16,495)		(49,467)
Elimination of ModSpace interest (e)	4,346		20,279
Pro-forma pretax loss (f)	(67,227)		(94,546)
Income tax benefit	(10,118)		(22,608)
Pro-forma net loss	$	(57,109)	$	(71,938)


(a)			Excludes historic revenues and pre-tax income from discontinued operations. Post-acquisition ModSpace revenues and pre-tax income results are reflected in WillScot's historic revenue amounts.
(b)			Depreciation of rental equipment and non-rental depreciation were adjusted for the fair value mark-ups of equipment acquired in the ModSpace acquisition. The useful lives assigned to such equipment is preliminary and did not change significantly from the useful lives used by ModSpace.
(c)			Amortization of the trade name acquired in ModSpace acquisition.
(d)			In connection with the ModSpace acquisition, the Company drew an incremental $420.0 million on the ABL Facility and issued $300.0 million of secured notes and $200.0 million of unsecured notes. As of September 30, 2018, the weighted-average interest rate for the aforementioned borrowings was 6.54%. Interest expense includes amortization of related deferred financing fees on debt incurred in conjunction with ModSpace acquisition.
(e)			Interest on ModSpace historic debt was eliminated.
(f)			Pro-forma pretax loss includes $6.1 million and $7.2 million, $7.5 million and $14.9 million, $10.7 million and $14.8 million, of restructuring expense, integration costs, and transactions costs incurred by WillScot for the three and nine months ended September 30, 2018, respectively. Additionally, pro-forma pretax loss for the three and nine month ended September also includes $20.5 million of interest expense associated with bridge financing fees incurred in connection with the acquisition of ModSpace.
(g)			The pro-forma tax rate applied to the ModSpace pretax loss is the same as the William Scotsman effective rate for the period.


(in thousands)	Three Months Ended September 30, 2017		Nine Months Ended September 30, 2017
WillScot revenues (a)	$	116,162	$	325,560
Acton and ModSpace revenues (b)	151,434		407,331
Pro-forma revenues	$	267,596	$	732,891

WillScot pretax loss (a)	$	(21,067)	$	(53,325)
Acton and ModSpace pretax income (loss) (b)	6,843		(108,295)
Pro-forma pretax loss	(14,224)		(161,620)
Pro-forma adjustments to combined pretax loss:
Impact of fair value mark-ups/useful life changes on depreciation (c)	(746)		(1,959)
Intangible asset amortization (d)	(427)		(1,281)
Interest expense (e)	(19,255)		(57,745)
Elimination of Acton and ModSpace interest (f)	8,936		36,702
Pro-forma pretax loss	(25,716)		(185,903)
Income tax benefit (g)	(9,316)		(61,950)
Pro-forma loss from continuing operations (h)	(16,400)		(123,953)
Income from discontinued operations	5,078		11,123
Pro-forma net loss	$	(11,322)	$	(112,830)


(a)			Excludes historic revenues and pre-tax income from discontinued operations. Includes historic corporate and other SG&A expenses related to Algeco Group costs, which were $7.6 million and $15.7 million for the three and nine months ended September 30, 2017, respectively. Post-acquisition ModSpace revenues and pre-tax income results are reflected in WillScot's historic revenue amounts.
(b)			Historic Acton revenues were $24.5 million and $71.9 million and historic ModSpace revenues were $126.9 million and $335.4 million, respectively, for the three and nine months ended September 30, 2017. Historic Acton pretax income was $0.9 million and $0.6 million and historic ModSpace pretax income was $5.9 million and pretax loss was $108.9 million, respectively, for the three and nine months ended September 30, 2017.
(c)			Depreciation of rental equipment and non-rental depreciation were adjusted for the fair value mark-ups of equipment acquired in the Acton and ModSpace acquisitions. The useful lives assigned to such equipment did not change significantly from the useful lives used by Acton and ModSpace.
(d)			Amortization of the trade names acquired in Acton and ModSpace acquisitions.
(e)			In connection with the Acton acquisition, the Company drew $237.1 million on the ABL Facility. As of September 30, 2018, the weighted-average interest rate of ABL borrowings was 4.65%. In connection with the ModSpace acquisition, the Company drew an incremental $420.0 million on the ABL Facility and issued $300.0 million of secured notes and $200.0 million of unsecured notes. The weighted-average interest rate of all ModSpace acquisition borrowings was 6.54%. Interest expense includes amortization of related deferred financing fees on debt incurred in conjunction with ModSpace acquisition.
(f)			Interest on Acton and ModSpace historic debt was eliminated. Historic Acton interest was $1.4 million and $3.9 million and historic ModSpace interest was $7.5 million and $32.8 million, respectively, for the three and nine months ended, September 30, 2017.
(g)			The pro-forma tax rate applied to the Acton and ModSpace pretax income (loss) are the same as the WillScot effective rate for the period.
(h)			Pro-forma pretax loss includes $5.2 million and $6.1 million of Business Combination transactions costs incurred by WillScot for the three and nine months ended September 30, 2017, respectively

Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2018

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

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


(in thousands)	Three Months Ended September 30, 2017		Nine Months Ended September 30, 2017
Remote accommodations revenue	$	36,767	$	95,332
Rental unit sales	1,522		1,522
Remote accommodations costs of leasing and services	16,621		41,359
Rental unit cost of sales	885		885
Depreciation of rental equipment	5,653		18,195
Gross profit	15,130		36,415
Selling, general and administrative expenses	3,307		9,838
Other depreciation and amortization	1,255		3,763
Restructuring costs	803		1,573
Other income, net	(56)		(96)
Operating profit	9,821		21,337
Interest expense	654		2,074
Income from discontinued operations, before income tax	9,167		19,263
Income tax expense	4,089		8,140
Income from discontinued operations, net of tax	$	5,078	$	11,123

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


(in thousands)	Three Months Ended September 30, 2017		Nine Months Ended September 30, 2017
Remote accommodations revenue:
Lease revenue	$	14,979	$	43,556
Service revenue	21,788		51,776
Total remote accommodations revenue	$	36,767	$	95,332

Remote accommodation costs:
Cost of leases	$	2,329	$	6,529
Cost of services	14,292		34,830
Total remote accommodations costs of leasing and services	$	16,621	$	41,359


(in thousands)	September 30, 2017
Depreciation and amortization	$	21,958
Capital expenditures	$	6,855

- 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

Inventories (Tables)

9 Months Ended

Sep. 30, 2018

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories at the respective balance sheet dates consisted of the following:


(in thousands)	September 30, 2018		December 31, 2017
Raw materials and consumables	$	19,107	$	10,082
Work in process	2,241		—
Total inventories	$	21,348	$	10,082

Rental Equipment, net (Tables)

9 Months Ended

Sep. 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)	September 30, 2018		December 31, 2017
Modular units and portable storage	$	2,326,909	$	1,385,901
Value added products	88,642		59,566
Total rental equipment	2,415,551		1,445,467
Less: accumulated depreciation	(466,148)		(405,321)
Rental equipment, net	$	1,949,403	$	1,040,146

Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 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 businesses	206,667		32,538		239,205
Changes to preliminary purchase price allocations	(396)		—		(396)
Effects of movements in foreign exchange rates	—		346		346
Balance at September 30, 2018	$	234,880	$	32,884	$	267,764

Schedule of Intangible Assets

The gross carrying amount, accumulated amortization and net book value ("NBV") of the intangible assets at the respective balance sheet dates consisted of the following:


(in thousands)	September 30, 2018										December 31, 2017
			Gross Carrying Amount		Accumulated Amortization		NBV		Gross Carrying Amount		Accumulated Amortization		NBV
Intangible assets subject to amortization:
Favorable lease rights	$	4,401	$	(60)	$	4,341	$	551	$	—	$	551
Acton and ModSpace trade names	3,708		(530)		3,178		708		—		708
Total intangible assets subject to amortization	$	8,109	$	(590)	$	7,519	$	1,259	$	—	$	1,259

Indefinite-lived intangible assets:
Trade names	$	125,000	$	—	$	125,000	$	125,000	$	—	$	125,000
Total intangible assets other than goodwill	$	133,109	$	(590)	$	132,519	$	126,259	$	—	$	126,259

Debt (Tables)

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Schedule of Debt

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


(in thousands, except rates)	Interest rate	Year of maturity	September 30, 2018		December 31, 2017
2022 Secured Notes	7.875%	2022	$	291,853	$	290,687
2023 Secured Notes	6.875%	2023	293,637		—
Unsecured Notes	10.000%	2023	198,882		—
US ABL Facility	Varies	2022	830,573		297,323
Canadian ABL Facility (a)	Varies	2022	—		—
Capital lease and other financing obligations			38,549		38,736
Total debt			1,653,494		626,746
Less: current portion of long-term debt			(1,915)		(1,881)
Total long-term debt			$	1,651,579	$	624,865

(a) As of September 30, 2018, the Company had $1.5 million of outstanding principal borrowings on the Canadian ABL Facility and $3.3 million of related debt issuance costs. $1.5 million of the related debt issuance costs are recorded as a direct offset against the principal of the Canadian ABL Facility and the remaining $1.8 million, in excess of the principal, has been included in other non-current assets on the condensed consolidated balance sheet. 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	%

Debt Redemption


Year	Redemption Price
2020	103.938	%
2021	101.969	%
2022 and thereafter	100.000	%

Debt Redemption


Year	Redemption Price
August 15, 2019 to February 14, 2020	102.000	%
February 15, 2020 to February 14, 2021	104.000	%
February 15, 2021 and thereafter	106.000	%

- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

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

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

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

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

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

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

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

+ Details

Equity (Tables)

9 Months Ended

Sep. 30, 2018

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

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


(in thousands)	Foreign Currency Translation Adjustment
Balance at December 31, 2017	$	(49,497)
Total other comprehensive loss	(82)
Reclassifications to accumulated deficit^(a)	(2,540)
Balance at September 30, 2018	$	(52,119)


(in thousands)	Foreign Currency Translation Adjustment
Balance at December 31, 2016	$	(56,928)
Total other comprehensive loss	8,914
Balance at September 30, 2017	$	(48,014)

Schedule of Noncontrolling Interest

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


(in thousands)	Total
Balance at December 31, 2017	$	48,931
Net loss attributable to non-controlling interest	(3,715)
Other comprehensive loss	(26)
Issuance of common stock and contribution of proceeds to WSII	7,574
Acquisition of ModSpace and the effect of the related financing transactions	13,614
Balance at September 30, 2018	$	66,378

Fair Value Measures (Tables)

9 Months Ended

Sep. 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:


	September 30, 2018														December 31, 2017
	Carrying Amount		Fair Value										Carrying Amount		Fair Value
(in thousands)					Level 1		Level 2		Level 3						Level 1		Level 2	Level 3
Financial liabilities not measured at fair value
US ABL Facility (a)	$	830,573	$	—	$	857,500	$	—	$	297,323	$	—	$	310,000	$	—
Canadian ABL Facility (a)	—		—		1,549		—		—		—		—		—
2022 Secured Notes (a)	291,853		—		310,416		—		290,687		—		310,410		—
2023 Secured Notes (a)	293,637		—		298,185		—		—		—		—		—
Unsecured Notes (a)	198,882		—		204,210		—		—		—		—		—
Total	$	1,614,945	$	—	$	1,671,860	$	—	$	588,010	$	—	$	620,410	$	—

(a) See Note 7 - Debt.

Restructuring (Tables)

9 Months Ended

Sep. 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 three and nine months ended September 30, 2018 and 2017:


	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2018		2017		2018		2017
Balance at beginning of the period	$	967	$	2,130	$	227	$	1,793
Charges during the period	6,137		1,156		7,214		2,124
Cash payments during the period	(3,661)		(803)		(3,991)		(1,442)
Effects of movements in foreign exchange rates	5		7		(2)		15
Balance at end of period	$	3,448	$	2,490	$	3,448	$	2,490

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2018:


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

Restricted Stock Units

The following table summarizes the Company's RSU award activity for the nine months ended September 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, September 30, 2018	886,680	$	13.60

Stock Option Awards

The following table summarizes the Company's stock option activity for the nine months ended September 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, September 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)

9 Months Ended

Sep. 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 nine months ended September 30, 2018 and 2017, respectively:


	Three Months Ended September 30, 2018
(in thousands)	Modular - US		Modular - Other North America		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	128,007	$	13,653	$	141,660
Modular delivery and installation	41,830		4,947		46,777
Sales:
New units	19,193		1,727		20,920
Rental units	8,595		972		9,567
Total Revenues	$	197,625	$	21,299	$	218,924

Costs:
Cost of leasing and services:
Modular leasing	$	36,204	$	3,011	$	39,215
Modular delivery and installation	37,782		4,608		42,390
Cost of sales:
New units	13,905		1,184		15,089
Rental units	5,025		725		5,750
Depreciation of rental equipment	31,702		3,832		35,534
Gross profit	$	73,007	$	7,939	$	80,946
Adjusted EBITDA	$	58,454	$	6,164	$	64,618
Other selected data:
Selling, general and administrative expense	$	66,102	$	5,795	$	71,897
Other depreciation and amortization	$	3,403	$	317	$	3,720
Capital expenditures for rental fleet	$	43,007	$	3,735	$	46,742


	Three Months Ended September 30, 2017
(in thousands)	Modular - US		Modular - Other North America		Corporate & Other		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	66,555	$	8,920	$	(155)	$	75,320
Modular delivery and installation	22,127		2,503		(3)		24,627
Sales:
New units	9,074		535		—		9,609
Rental units	5,922		765		(81)		6,606
Total Revenues	$	103,678	$	12,723	$	(239)	$	116,162

Costs:
Cost of leasing and services:
Modular leasing	$	19,000	$	2,252	$	—	$	21,252
Modular delivery and installation	21,545		2,387		—		23,932
Cost of sales:
New units	6,487		427		2		6,916
Rental units	3,204		580		—		3,784
Depreciation of rental equipment	15,676		3,333		—		19,009
Gross profit (loss)	$	37,766	$	3,744	$	(241)	$	41,269
Adjusted EBITDA	$	29,177	$	2,961	$	(2,753)	$	29,385
Other selected data:
Selling, general and administrative expense	$	24,337	$	4,116	$	7,644	$	36,097
Other depreciation and amortization	$	1,298	$	264	$	343	$	1,905
Capital expenditures for rental fleet	$	24,147	$	1,361	$	—	$	25,508


	Nine Months Ended September 30, 2018
(in thousands)	Modular - US		Modular - Other North America		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	306,920	$	33,251	$	340,171
Modular delivery and installation	93,190		11,250		104,440
Sales:
New units	30,157		3,427		33,584
Rental units	14,258		1,555		15,813
Total Revenues	$	444,525	$	49,483	$	494,008

Costs:
Cost of leasing and services:
Modular leasing	$	85,766	$	7,740	$	93,506
Modular delivery and installation	87,032		11,006		98,038
Cost of sales:
New units	21,347		2,433		23,780
Rental units	8,218		1,110		9,328
Depreciation of rental equipment	72,606		10,243		82,849
Gross profit	$	169,556	$	16,951	$	186,507
Adjusted EBITDA	$	129,170	$	12,856	$	142,026
Other selected data:
Selling, general and administrative expense	$	150,248	$	14,597	$	164,845
Other depreciation and amortization	$	6,962	$	764	$	7,726
Capital expenditures for rental fleet	$	104,462	$	7,043	$	111,505


	Nine Months Ended September 30, 2017
(in thousands)	Modular - US		Modular - Other North America		Corporate & Other		Total
Revenues:
Leasing and services revenue:
Modular leasing	$	192,587	$	25,124	$	(450)	$	217,261
Modular delivery and installation	60,451		6,132		(3)		66,580
Sales:
New units	21,630		2,861		—		24,491
Rental units	14,634		2,675		(81)		17,228
Total Revenues	$	289,302	$	36,792	$	(534)	$	325,560

Costs:
Cost of leasing and services:
Modular leasing	$	55,713	$	5,981	$	—	$	61,694
Modular delivery and installation	58,612		5,792		—		64,404
Cost of sales:							—
New units	15,172		2,240		(10)		17,402
Rental units	8,240		1,827		—		10,067
Depreciation of rental equipment	44,030		9,173		—		53,203
Gross profit (loss)	$	107,535	$	11,779	$	(524)	$	118,790
Adjusted EBITDA	$	79,189	$	8,586	$	(10,197)	$	77,578
Other selected data:
Selling, general and administrative expense	$	72,464	$	12,393	$	15,653	$	100,510
Other depreciation and amortization	$	3,937	$	755	$	1,044	$	5,736
Capital expenditures for rental fleet	$	72,105	$	3,705	$	—	$	75,810

Reconciliation of Assets from Segment to Consolidated


	Three Months Ended September 30, 2018
(in thousands)	Modular - US		Modular - Other North America		Total
(Loss) income from continuing operations before income taxes	$	(44,519)	$	1,283	$	(43,236)
Interest expense, net (a)	42,831		616		43,447
Depreciation and amortization	35,105		4,149		39,254
Currency gains, net	(112)		(313)		(425)
Restructuring costs	5,895		242		6,137
Integration costs	7,443		10		7,453
Stock compensation expense	1,050		—		1,050
Transaction costs	10,490		182		10,672
Other (income) expense	271		(5)		266
Adjusted EBITDA	$	58,454	$	6,164	$	64,618

(a) In connection with the ModSpace acquisition, the Company incurred bridge financing fees and upfront commitment fees of $20.5 million, included within interest expense, during the three months ended September 30, 2018.


	Three Months Ended September 30, 2017
(in thousands)	Modular - US		Modular - Other North America		Corporate & Other		Total
Loss from continuing operations before income taxes	$	(1,070)	$	(1,684)	$	(18,313)	$	(21,067)
Interest expense, net	16,790		1,134		8,523		26,447
Depreciation and amortization	16,974		3,597		343		20,914
Currency gains, net	(3,834)		(104)		(332)		(4,270)
Restructuring costs	247		17		892		1,156
Transaction costs	69		—		5,164		5,233
Other expense	1		1		970		972
Adjusted EBITDA	$	29,177	$	2,961	$	(2,753)	$	29,385


	Nine Months Ended September 30, 2018
(in thousands)	Modular - US		Modular - Other North America		Total
Loss from continuing operations before income taxes	$	(55,360)	$	(1,397)	$	(56,757)
Interest expense, net (a)	65,654		1,667		67,321
Depreciation and amortization	79,568		11,007		90,575
Currency losses, net	159		1,012		1,171
Restructuring costs	6,962		252		7,214
Integration costs	14,858		10		14,868
Stock compensation expense	2,225		—		2,225
Transaction costs	14,539		251		14,790
Other expense	565		54		619
Adjusted EBITDA	$	129,170	$	12,856	$	142,026

(a) In connection with the ModSpace acquisition, the Company incurred bridge financing fees and upfront commitment fees of $20.5 million, included within interest expense, during the nine months ended September 30, 2018.


	Nine Months Ended September 30, 2017
(in thousands)	Modular - US		Modular - Other North America		Corporate & Other		Total
Loss from continuing operations before income taxes	$	(6,280)	$	(4,142)	$	(42,903)	$	(53,325)
Interest expense, net	48,302		3,350		23,270		74,922
Depreciation and amortization	47,967		9,928		1,044		58,939
Currency gains, net	(11,233)		(585)		(951)		(12,769)
Restructuring costs	247		17		1,860		2,124
Transaction costs	115		—		5,980		6,095
Other expense	71		18		1,503		1,592
Adjusted EBITDA	$	79,189	$	8,586	$	(10,197)	$	77,578

Related Parties (Tables)

9 Months Ended

Sep. 30, 2018

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


(in thousands)	Financial statement line Item	September 30, 2018		December 31, 2017
Receivables due from affiliates	Prepaid expenses and other current assets	$	66	$	2,863
Amounts due to affiliates	Accrued liabilities	(1,465)		(1,235)
	Total related party liabilities, net	$	(1,399)	$	1,628

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


		Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	Financial statement line item	2018		2017		2018		2017
Leasing revenue from related parties	Modular leasing revenue	$	(104)	$	—	$	(629)	$	—
Rental unit sales to related parties	Rental unit sales	(1,548)		—		(1,548)		—
Management fees and recharge income on transactions with affiliates	Selling, general & administrative expenses	—		(1,693)		—		(1,542)
Interest income on notes due from affiliates	Interest income	—		(3,659)		—		(9,752)
Interest expense on notes due to affiliates	Interest expense	—		17,191		—		47,918
Remote accommodations revenue and costs, net from affiliates	Income from discontinued operations, net of tax	—		1,327		—		1,327
	Total related party (income) expense, net	$	(1,652)	$	13,166	$	(2,177)	$	37,951

Summary of Significant Accounting Policies Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Sep. 30, 2018	Jun. 30, 2018
Noncontrolling Interest [Line Items]
Provisional tax benefit from remeasurement of deferred tax liabilities	$ 28.1
Provisional tax expense from the deemed repatriation of foreign earnings	$ 2.4
Williams Scotsman Holdings Corp.
Noncontrolling Interest [Line Items]
Percentage ownership by company		91.00%
Sapphire Holding S.a. r.l.
Noncontrolling Interest [Line Items]
Percentage ownership		9.00%	10.00%

Acquisitions (Details) - USD ($)					3 Months Ended		9 Months Ended
Acquisitions (Details) - USD ($)	Aug. 15, 2018	Jul. 20, 2018	Jan. 03, 2018	Dec. 20, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Aug. 06, 2018	Aug. 03, 2018
Business Acquisition [Line Items]
Integration fees					$ 7,453,000			$ 14,868,000
Transaction costs					10,672,000	$ 5,233,000		14,790,000		$ 6,095,000
Tyson Onsite
Business Acquisition [Line Items]
Consideration			$ 24,000,000.0
Rental fleet							$ 900,000
Accrued liabilities							100,000
Property, plant and equipment							$ (100,000)
Cash purchase price								24,006,000		0
Acton Mobile Holdings LLC
Business Acquisition [Line Items]
Rental fleet									$ (2,100,000)
Accrued liabilities									800,000
Percentage of issued and outstanding ownership interests acquired				100.00%
Cash purchase price				$ 237,100,000
Deferred revenue									600,000
Deferred tax assets									800,000
Receivables									$ 2,400,000
Modular Space Holdings, Inc
Business Acquisition [Line Items]
Consideration	$ 1,208,246,000
Cash purchase price	$ 1,054,416,000							1,060,140,000		$ 0
Warrants exercise price (in USD per share)	$ 15.50
Working capital adjustment	$ 5,724,000
Cash purchase price deposited into escrow	$ 3,000,000.0
Revenue since acquisition date					65,500,000			65,500,000
Integration fees					7,500,000			14,900,000
Transaction costs					10,700,000			14,800,000
Tyson Onsite, Acton Mobile Holdings LLC, and Modular Space Holdings, Inc.
Business Acquisition [Line Items]
Integration fees					$ 7,500,000			$ 14,900,000
Common Stock \| Modular Space Holdings, Inc
Business Acquisition [Line Items]
Stock consideration (in shares)	6,458,229
Stock consideration	$ 95,796,000
Warrants \| Modular Space Holdings, Inc
Business Acquisition [Line Items]
Stock consideration	$ 52,310,000
Class A Common Stock \| Modular Space Holdings, Inc
Business Acquisition [Line Items]
Warrants exercise price (in USD per share)	$ 15.50
Class A Common Stock \| Common Stock \| Modular Space Holdings, Inc
Business Acquisition [Line Items]
Stock consideration (in shares)	6,458,229
Stock consideration	$ 95,800,000
Class A Common Stock \| Warrants \| Modular Space Holdings, Inc
Business Acquisition [Line Items]
Stock consideration (in shares)	10,000,000
Stock consideration	$ 52,300,000
Public Offering \| Class A Common Stock
Business Acquisition [Line Items]
Number of shares sold (in shares)		9,200,000,000,000
2023 Senior Secured Notes \| Senior Notes
Business Acquisition [Line Items]
Debt issued											$ 300,000,000.0
2023 Senior Unsecured Notes \| Senior Notes
Business Acquisition [Line Items]
Debt issued												$ 200,000,000.0

Acquisitions - Purchase Price (Details) - USD ($) $ / shares in Units, $ in Thousands		9 Months Ended
	Aug. 15, 2018	Sep. 30, 2018	Sep. 30, 2017
Business Acquisition [Line Items]
Share price (in USD per share)	$ 15.78
Modular Space Holdings, Inc
Business Acquisition [Line Items]
Cash	$ 1,054,416	$ 1,060,140	$ 0
Working capital adjustment	5,724
Total purchase price	$ 1,208,246
Discount on share price	6.00%
Fair market value of warrant (in USD per share)	$ 5.23
Common Stock \| Modular Space Holdings, Inc
Business Acquisition [Line Items]
Stock consideration	$ 95,796
Stock consideration (in shares)	6,458,229
Warrants \| Modular Space Holdings, Inc
Business Acquisition [Line Items]
Stock consideration	$ 52,310

Acquisitions - Warrant Valuation (Details) - Modular Space Holdings, Inc	Aug. 15, 2018
Expected Volatility
Business Acquisition [Line Items]
Stock consideration valuation input	0.286
Warrant valuation input	0.350
Risk-free rate of interest
Business Acquisition [Line Items]
Stock consideration valuation input	0.022
Warrant valuation input	0.027
Dividend Yield
Business Acquisition [Line Items]
Stock consideration valuation input	0
Warrant valuation input	0
Expected life (years)
Business Acquisition [Line Items]
Stock consideration valuation input	0.5
Warrant valuation input	4.3

Acquisitions - Purchase Price Allocation (Details) - USD ($) $ in Thousands		9 Months Ended
	Aug. 15, 2018	Sep. 30, 2018	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Total goodwill		$ 267,764	$ 28,609	$ 56,811
Modular Space Holdings, Inc
Business Acquisition [Line Items]
Trade receivables, net	$ 81,055
Inventory	10,483
Prepaid expenses and other current assets	6,063
Rental equipment	866,801
Property, plant and equipment	111,681
Total identifiable assests acquired	1,082,933
Accounts payable	30,432
Accrued liabilities	20,877
Deferred tax liabilities	42,531
Deferred revenue and customer deposits	16,646
Total liabilities assumed	110,486
Total goodwill	235,799
Fair value of accounts receivables	81,100
Gross contractual amounts of accounts receivables	89,700
Uncollectible accounts receivable	8,600
Modular - US
Business Acquisition [Line Items]
Total goodwill		234,880	28,609	0
Modular - US \| Modular Space Holdings, Inc
Business Acquisition [Line Items]
Total goodwill	203,300
Modular - Other North America
Business Acquisition [Line Items]
Total goodwill		$ 32,884	$ 0	$ 56,811
Modular - Other North America \| Modular Space Holdings, Inc
Business Acquisition [Line Items]
Total goodwill	32,500
Favorable Lease Asset \| Modular Space Holdings, Inc
Business Acquisition [Line Items]
Intangible assets	$ 3,850
Estimated useful life of intangible assets	6 years	6 years
Trade Name \| Modular Space Holdings, Inc
Business Acquisition [Line Items]
Intangible assets	$ 3,000
Estimated useful life of intangible assets	3 years	3 years

Acquisitions - Pro-Forma Consolidated Statements of Operations (Details) - USD ($)			3 Months Ended		9 Months Ended
	Aug. 15, 2018	Dec. 20, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Business Acquisition [Line Items]
Revenues			$ 218,924,000	$ 116,162,000	$ 494,008,000	$ 325,560,000
Pretax loss			$ (43,236,000)	(21,067,000)	$ (56,757,000)	(53,325,000)
Weighted average interest rate for borrowings			6.54%		6.54%
Restructuring costs			$ 6,137,000	1,156,000	$ 7,214,000	2,124,000
Integration costs			7,453,000		14,868,000
Transaction costs			10,672,000	5,233,000	14,790,000	6,095,000
Bridge financing fees			20,500,000		20,500,000
Selling, general and administrative expense			$ 71,897,000	36,097,000	$ 164,845,000	100,510,000
Senior Notes \| 2023 Senior Secured Notes
Business Acquisition [Line Items]
Debt issued	$ 300,000,000
Senior Notes \| 2023 Senior Unsecured Notes
Business Acquisition [Line Items]
Debt issued	200,000,000
Revolving Credit Facility \| Line of Credit \| ABL Facility
Business Acquisition [Line Items]
Draw down of debt	420,000,000
Weighted average interest rate for borrowings			4.65%		4.65%
Modular Space Holdings, Inc
Business Acquisition [Line Items]
Pro-forma revenues			$ 300,616,000		$ 806,617,000
Pretax loss			(67,227,000)		(94,546,000)
Pro-forma pretax loss			(54,696,000)		(64,213,000)
Income tax benefit			(10,118,000)		(22,608,000)
Pro-forma loss from continuing operations			$ (57,109,000)		$ (71,938,000)
Weighted average interest rate for borrowings			6.54%		6.54%
Restructuring costs			$ 6,100,000		$ 7,200,000
Integration costs			7,500,000		14,900,000
Transaction costs			10,700,000		14,800,000
Bridge financing fees			20,500,000		20,500,000
Modular Space Holdings, Inc \| Revolving Credit Facility \| Line of Credit \| ABL Facility
Business Acquisition [Line Items]
Draw down of debt	$ 420,000,000.0
Modular Space Holdings, Inc \| Impact of fair value mark-ups/useful life changes on depreciation
Business Acquisition [Line Items]
Pretax loss			(132,000)		(395,000)
Modular Space Holdings, Inc \| Intangible asset amortization
Business Acquisition [Line Items]
Pretax loss			(250,000)		(750,000)
Modular Space Holdings, Inc \| Interest expense
Business Acquisition [Line Items]
Pretax loss			(16,495,000)	(7,500,000)	(49,467,000)	(32,800,000)
Modular Space Holdings, Inc \| Elimination of historic interest
Business Acquisition [Line Items]
Pretax loss			$ 4,346,000		$ 20,279,000
Modular Space Holdings, Inc. and Acton Mobile Holdings LLC
Business Acquisition [Line Items]
Pro-forma revenues				267,596,000		732,891,000
Pretax loss				(25,716,000)		(185,903,000)
Pro-forma pretax loss				(14,224,000)		(161,620,000)
Income tax benefit				(9,316,000)		(61,950,000)
Pro-forma loss from continuing operations				(16,400,000)		(123,953,000)
Income from discontinued operations				5,078,000		11,123,000
Pro-forma net loss				(11,322,000)		(112,830,000)
Transaction costs				5,200,000		6,100,000
Modular Space Holdings, Inc. and Acton Mobile Holdings LLC \| Impact of fair value mark-ups/useful life changes on depreciation
Business Acquisition [Line Items]
Pretax loss				(746,000)		(1,959,000)
Modular Space Holdings, Inc. and Acton Mobile Holdings LLC \| Intangible asset amortization
Business Acquisition [Line Items]
Pretax loss				(427,000)		(1,281,000)
Modular Space Holdings, Inc. and Acton Mobile Holdings LLC \| Interest expense
Business Acquisition [Line Items]
Pretax loss				(19,255,000)		(57,745,000)
Modular Space Holdings, Inc. and Acton Mobile Holdings LLC \| Elimination of historic interest
Business Acquisition [Line Items]
Pretax loss				8,936,000		36,702,000
Acton Mobile Holdings LLC \| Revolving Credit Facility \| Line of Credit \| ABL Facility
Business Acquisition [Line Items]
Draw down of debt		$ 237,100,000
Weighted average interest rate for borrowings			4.65%		4.65%
Acton Mobile Holdings LLC \| Interest expense
Business Acquisition [Line Items]
Pretax loss				(1,400,000)		(3,900,000)
Modular Space Holdings, Inc
Business Acquisition [Line Items]
Revenues			$ 81,692,000	126,900,000	$ 312,609,000	335,400,000
Pretax loss			$ (11,460,000)	5,900,000	$ (7,456,000)	108,900,000
Modular Space Holdings, Inc. and Acton Mobile Holdings LLC
Business Acquisition [Line Items]
Revenues				151,434,000		407,331,000
Pretax loss				6,843,000		(108,295,000)
Acton Mobile Holdings LLC
Business Acquisition [Line Items]
Revenues				24,500,000		71,900,000
Pretax loss				900,000		600,000
Alegco Group
Business Acquisition [Line Items]
Selling, general and administrative expense				$ 7,600,000		$ 15,700,000

Discontinued Operations - Income (Loss) from Discontinued Operations, Net of Tax (Details) - Discontinued Operations - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation of rental equipment	$ 5,653	$ 18,195
Gross profit	15,130	36,415
Selling, general and administrative expenses	3,307	9,838
Other depreciation and amortization	1,255	3,763
Restructuring costs	803	1,573
Other income, net	(56)	(96)
Operating profit	9,821	21,337
Interest expense	654	2,074
Income from discontinued operations, before income tax	9,167	19,263
Income tax expense	4,089	8,140
Income from discontinued operations, net of tax	5,078	11,123
Remote accommodations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	36,767	95,332
Cost of sales	16,621	41,359
Rental units
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	1,522	1,522
Cost of sales	$ 885	$ 885

Discontinued Operations - Revenues and Costs Related to Remote Accommodations Business (Details) - Remote accommodations - Discontinued Operations - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017
Remote accommodations revenue:
Lease revenue	$ 14,979	$ 43,556
Service revenue	21,788	51,776
Total remote accommodations revenue	36,767	95,332
Remote accommodation costs:
Cost of leases	2,329	6,529
Cost of services	14,292	34,830
Total remote accommodations costs of leasing and services	$ 16,621	$ 41,359

Discontinued Operations - Cash Flows from Discontinued Operations (Details) - Discontinued Operations $ in Thousands	9 Months Ended
	Sep. 30, 2017 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization	$ 21,958
Capital expenditures	$ 6,855

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Inventory Disclosure [Abstract]
Raw materials and consumables	$ 19,107		$ 10,082
Work in process	2,241		0
Total inventories	$ 21,348	$ 10,082	$ 10,082

Rental Equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
Rental Equipment, net (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Total rental equipment	$ 2,415,551	$ 2,415,551	$ 1,445,467
Less: accumulated depreciation	(466,148)	(466,148)	(405,321)
Rental equipment, net	1,949,403	1,949,403	1,040,146
Insurance proceeds	0	9,300
Gain on insurance proceeds	0	4,800
Modular units and portable storage
Property, Plant and Equipment [Line Items]
Total rental equipment	2,326,909	2,326,909	1,385,901
Value added products and services
Property, Plant and Equipment [Line Items]
Total rental equipment	$ 88,642	$ 88,642	$ 59,566

Goodwill and Intangible Assets - Goodwill Activity (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 28,609	$ 56,811
Acquisition of a business	239,205	28,609
Impairment losses		(60,743)
Changes to preliminary purchase price allocations	(396)
Effects of movements in foreign exchange rates	346	3,932
Goodwill, end of period	267,764	28,609
Modular - US
Goodwill [Roll Forward]
Goodwill, beginning of period	28,609	0
Acquisition of a business	206,667	28,609
Impairment losses		0
Changes to preliminary purchase price allocations	(396)
Effects of movements in foreign exchange rates	0	0
Goodwill, end of period	234,880	28,609
Modular - Other North America
Goodwill [Roll Forward]
Goodwill, beginning of period	0	56,811
Acquisition of a business	32,538	0
Impairment losses		(60,743)
Changes to preliminary purchase price allocations	0
Effects of movements in foreign exchange rates	346	3,932
Goodwill, end of period	$ 32,884	$ 0

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands				3 Months Ended	9 Months Ended	12 Months Ended
	Aug. 15, 2018	Jan. 03, 2018	Dec. 20, 2017	Sep. 30, 2018	Sep. 30, 2018	Dec. 31, 2017
Goodwill [Line Items]
Goodwill recognized					$ 239,205	$ 28,609
Tyson Onsite
Goodwill [Line Items]
Changes to preliminary purchase price allocations				$ 300	700
Modular - US
Goodwill [Line Items]
Goodwill recognized					206,667	28,609
Modular - US \| Modular Space Holdings, Inc
Goodwill [Line Items]
Goodwill recognized	$ 203,300
Modular - US \| Acton Mobile Holdings LLC
Goodwill [Line Items]
Goodwill recognized			$ 28,600
Changes to preliminary purchase price allocations				$ 1,700	300
Modular - US \| Tyson Onsite
Goodwill [Line Items]
Goodwill recognized		$ 3,400
Modular - Other North America
Goodwill [Line Items]
Goodwill recognized					$ 32,538	$ 0
Modular - Other North America \| Modular Space Holdings, Inc
Goodwill [Line Items]
Goodwill recognized	$ 32,500
Favorable Lease Asset \| Modular Space Holdings, Inc
Goodwill [Line Items]
Estimated useful life of intangible assets	6 years				6 years
Favorable Lease Asset \| Modular - US \| Modular Space Holdings, Inc
Goodwill [Line Items]
Finite-lived intangible assets acquired	$ 3,900
Trade Name \| Modular Space Holdings, Inc
Goodwill [Line Items]
Estimated useful life of intangible assets	3 years				3 years
Trade Name \| Modular - US \| Modular Space Holdings, Inc
Goodwill [Line Items]
Finite-lived intangible assets acquired	$ 3,000

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Intangible assets subject to amortization, gross carrying amount	$ 8,109	$ 1,259
Intangible assets, accumulated amortization	(590)	0
Intangible assets subject to amortization, NBV	7,519	1,259
Total intangible assets other than goodwill, gross carrying amount	133,109	126,259
Total intangible assets other than goodwill, NBV	132,519	126,259
Trade Name
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	125,000	125,000
Trade Name
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Intangible assets subject to amortization, gross carrying amount	3,708	708
Intangible assets, accumulated amortization	(530)	0
Intangible assets subject to amortization, NBV	3,178	708
Favorable Lease Asset
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Intangible assets subject to amortization, gross carrying amount	4,401	551
Intangible assets, accumulated amortization	(60)	0
Intangible assets subject to amortization, NBV	$ 4,341	$ 551

Debt - Carrying Value of Debt Outstanding (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Aug. 06, 2018	Dec. 31, 2017	Nov. 29, 2017
Debt Instrument [Line Items]
Capital lease and other financing obligations	$ 38,549		$ 38,736
Total debt	1,653,494		626,746
Less: current portion of long-term debt	(1,915)		(1,881)
Total long-term debt	$ 1,651,579		624,865
Senior Notes \| 2022 Senior Secured Notes
Debt Instrument [Line Items]
Interest rate	7.875%			7.875%
Debt	$ 291,853		290,687
Debt issuance costs	$ 8,100		9,300
Senior Notes \| 2023 Senior Secured Notes
Debt Instrument [Line Items]
Interest rate	6.875%	6.875%
Debt	$ 293,637		0
Senior Notes \| 2023 Senior Unsecured Notes
Debt Instrument [Line Items]
Interest rate	10.00%
Debt	$ 198,882		0
Line of Credit \| US ABL Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Debt	830,573		297,323
Line of Credit \| Canadian ABL Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Debt	0		0
Debt, gross	1,500
Debt issuance costs	3,300
Line of Credit \| Canadian ABL Facility \| Revolving Credit Facility \| Long-term Debt
Debt Instrument [Line Items]
Debt issuance costs	1,500
Line of Credit \| Canadian ABL Facility \| Revolving Credit Facility \| Other Non-current Assets
Debt Instrument [Line Items]
Debt issuance costs	$ 1,800		$ 1,800

Debt - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
Debt - Additional Information (Details) - USD ($)	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Aug. 15, 2018	Aug. 06, 2018	Aug. 03, 2018	Nov. 29, 2017	Oct. 31, 2012
Debt Instrument [Line Items]
Weighted average interest rate for borrowings	6.54%		6.54%
Bridge financing fees	$ 20,500,000		$ 20,500,000
Capital lease obligations	38,549,000		38,549,000		$ 38,736,000
Interest expense on notes due to affiliates	0	$ 17,191,000	0	$ 47,918,000
Interest income for notes from affiliates	0	3,659,000	0	9,752,000
Affiliates
Debt Instrument [Line Items]
Interest expense on notes due to affiliates		16,700,000		48,000,000.0
Interest income for notes from affiliates		3,700,000		9,800,000
Line of Credit \| ABL Facility
Debt Instrument [Line Items]
Letters of credit amount outstanding	$ 13,000,000.0		$ 13,000,000.0		8,900,000
Senior Notes \| 2022 Senior Secured Notes
Debt Instrument [Line Items]
Debt, face amount									$ 300,000,000.0
Interest rate	7.875%		7.875%						7.875%
Unamortized debt issuance costs	$ 8,100,000		$ 8,100,000		9,300,000
Senior Notes \| 2023 Senior Secured Notes
Debt Instrument [Line Items]
Debt issuance costs and debt discount	$ 6,400,000		$ 6,400,000				$ 6,500,000
Debt, face amount						$ 300,000,000
Interest rate	6.875%		6.875%				6.875%
Senior Notes \| 2023 Senior Unsecured Notes
Debt Instrument [Line Items]
Debt issuance costs and debt discount	$ 1,100,000		$ 1,100,000					$ 1,100,000
Debt, face amount						$ 200,000,000
Interest rate	10.00%		10.00%
Senior Notes \| Redemption Period One \| 2023 Senior Unsecured Notes
Debt Instrument [Line Items]
Redemption price			100.00%
Senior Notes \| Redemption Period Two \| 2022 Senior Secured Notes
Debt Instrument [Line Items]
Redemption price			103.938%
Senior Notes \| Redemption Period Two \| 2023 Senior Secured Notes
Debt Instrument [Line Items]
Redemption price			103.938%
Senior Notes \| Redemption Period Two \| 2023 Senior Unsecured Notes
Debt Instrument [Line Items]
Minimum outstanding principal after redemption	$ 50,000,000.0		$ 50,000,000.0
Capital Leases and Other Financing Obligations
Debt Instrument [Line Items]
Unamortized debt issuance costs	1,600,000		1,600,000		1,800,000
Capital Lease Obligations
Debt Instrument [Line Items]
Capital lease obligations	100,000		100,000		200,000
Sale Leaseback Transaction
Debt Instrument [Line Items]
Capital lease obligations	$ 38,400,000		$ 38,400,000		38,500,000
Implicit interest rate	8.00%		8.00%
Revolving Credit Facility \| Line of Credit \| Former Algeco Group Revolver
Debt Instrument [Line Items]
Maximum aggregate availability										$ 1,355,000,000
Interest expense		$ 8,700,000		$ 23,200,000
Revolving Credit Facility \| Line of Credit \| Former Algeco Group Revolver Denominated in USD
Debt Instrument [Line Items]
Maximum aggregate availability	$ 1,285,000,000		$ 1,285,000,000							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	1,425,000,000		1,425,000,000		600,000,000.0				$ 600,000,000.0
Interest expense	7,600,000		15,800,000
Accordion feature	375,000,000.0		375,000,000.0
Maximum aggregate availability, after accordion feature	$ 1,800,000,000		$ 1,800,000,000
Applicable margin, step down			0.25%
Applicable margin, step up			0.25%
Weighted average interest rate for borrowings	4.65%		4.65%
Available borrowing capacity	$ 552,900,000		$ 552,900,000		281,100,000
Minimum fixed charge ratio	2.00		2.00
Maximum total net leverage ratio	5.50		5.50
Excess availability under facility to trigger covenant	$ 135,000,000.0		$ 135,000,000.0
Excess availability as a percentage of the line cap to trigger covenant	10.00%		10.00%
Outstanding principal	$ 859,000,000.0		$ 859,000,000.0		310,000,000.0
Debt issuance costs and debt discount	28,500,000		28,500,000		12,700,000
Additional debt issuance costs and discounts associated with debt modification			19,000,000.0
Revolving Credit Facility \| Line of Credit \| US ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability	$ 1,285,000,000		$ 1,285,000,000
Percentage of net book value of accounts receivable used in determining borrowing capacity	85.00%		85.00%
Percentage of net book value of eligible rental equipment used in determining borrowing capacity	95.00%		95.00%
Percentage of net orderly liquidation value of eligible rental equipment used in determining borrowing capacity	85.00%		85.00%
Available borrowing capacity	$ 414,500,000		$ 414,500,000		211,100,000
Revolving Credit Facility \| Line of Credit \| Canadian ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability	$ 140,000,000.0		$ 140,000,000.0
Percentage of net book value of accounts receivable used in determining borrowing capacity	85.00%		85.00%
Percentage of net book value of eligible rental equipment used in determining borrowing capacity	95.00%		95.00%
Percentage of net orderly liquidation value of eligible rental equipment used in determining borrowing capacity	85.00%		85.00%
Available borrowing capacity	$ 138,400,000		$ 138,400,000		$ 70,000,000.0
Outstanding principal	1,500,000		1,500,000
Unamortized debt issuance costs	3,300,000		$ 3,300,000
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	75,000,000.0		$ 75,000,000.0
Letter of Credit \| Line of Credit \| Canadian ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability	60,000,000.0		60,000,000.0
Swingline Loans \| Line of Credit \| US ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability	75,000,000.0		75,000,000.0
Swingline Loans \| Line of Credit \| Canadian ABL Facility
Debt Instrument [Line Items]
Maximum aggregate availability	$ 50,000,000.0		$ 50,000,000.0
Interest Payment Period One \| Senior Notes \| 2023 Senior Unsecured Notes
Debt Instrument [Line Items]
Interest rate								10.00%
Interest rate paid in kind	11.50%		11.50%
Interest Payment Period Two \| Senior Notes \| 2023 Senior Unsecured Notes
Debt Instrument [Line Items]
Interest rate	12.50%		12.50%
Minimum
Debt Instrument [Line Items]
Capital lease interest rate			1.20%
Minimum \| Senior Notes \| Redemption Period One \| 2023 Senior Unsecured Notes
Debt Instrument [Line Items]
Minimum outstanding principal after redemption	$ 50,000,000.0		$ 50,000,000.0
Minimum \| Sale Leaseback Transaction
Debt Instrument [Line Items]
Agreement term			18 months
Minimum \| Revolving Credit Facility \| Line of Credit \| ABL Facility
Debt Instrument [Line Items]
Commitment fee			0.375%
Maximum
Debt Instrument [Line Items]
Capital lease interest rate			11.90%
Maximum \| Sale Leaseback Transaction
Debt Instrument [Line Items]
Agreement term			10 years
Maximum \| Revolving Credit Facility \| Line of Credit \| ABL Facility
Debt Instrument [Line Items]
Commitment fee			0.50%
Redemption Option One \| Senior Notes \| Redemption Period One \| 2022 Senior Secured Notes
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%
Redemption Option One \| Senior Notes \| Redemption Period One \| 2023 Senior Secured Notes
Debt Instrument [Line Items]
Redemption price			100.00%
Redemption Option Two \| Senior Notes \| Redemption Period One \| 2022 Senior Secured Notes
Debt Instrument [Line Items]
Redemption price			107.875%
Redemption percentage of aggregate principal amount			40.00%
Redemption Option Two \| Senior Notes \| Redemption Period One \| 2023 Senior Secured Notes
Debt Instrument [Line Items]
Redemption price			106.875%
Redemption percentage of aggregate principal amount			40.00%
Redemption Option Three \| Senior Notes \| Redemption Period One \| 2022 Senior Secured Notes
Debt Instrument [Line Items]
Redemption price			103.00%
Redemption percentage of aggregate principal amount			10.00%
Redemption Option Three \| Senior Notes \| Redemption Period One \| 2023 Senior Secured Notes
Debt Instrument [Line Items]
Redemption price			103.00%
Redemption percentage of aggregate principal amount			10.00%

Debt - Redemption Price Percentage (Details) - Senior Notes	9 Months Ended
	Sep. 30, 2018
2022 Senior Secured Notes \| Redemption Period Two
Debt Instrument [Line Items]
Redemption Price	103.938%
2022 Senior Secured Notes \| Redemption Period Three
Debt Instrument [Line Items]
Redemption Price	101.969%
2022 Senior Secured Notes \| Redemption Period Four
Debt Instrument [Line Items]
Redemption Price	100.00%
2023 Senior Secured Notes \| Redemption Period Two
Debt Instrument [Line Items]
Redemption Price	103.938%
2023 Senior Secured Notes \| Redemption Period Three
Debt Instrument [Line Items]
Redemption Price	101.969%
2023 Senior Secured Notes \| Redemption Period Four
Debt Instrument [Line Items]
Redemption Price	100.00%
2023 Senior Unsecured Notes \| Redemption Period Three
Debt Instrument [Line Items]
Redemption Price	102.00%
2023 Senior Unsecured Notes \| Redemption Period Four
Debt Instrument [Line Items]
Redemption Price	104.00%
2023 Senior Unsecured Notes \| Redemption Period Five
Debt Instrument [Line Items]
Redemption Price	106.00%

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands					3 Months Ended
	Sep. 21, 2018	Aug. 15, 2018	Aug. 10, 2018	Jul. 30, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Subsidiary, Sale of Stock [Line Items]
Equity					$ 730,709		$ 484,550
Equity Offering
Subsidiary, Sale of Stock [Line Items]
Number of shares sold (in shares)				8,000,000	9,200,000
Price of shares sold (in USD per share)				$ 16.00
Net offering proceeds				$ 139,000
Discount and offering expenses				$ 8,200
Underwriter's Option
Subsidiary, Sale of Stock [Line Items]
Number of shares sold (in shares)			1,200,000
Modular Space Holdings, Inc
Subsidiary, Sale of Stock [Line Items]
Number of shares called by each warrant (in shares)		1
Warrants exercise price (in USD per share)		$ 15.50
Net assets acquired		$ 972,400
Common Stock \| Modular Space Holdings, Inc
Subsidiary, Sale of Stock [Line Items]
Stock consideration (in shares)		6,458,229
Sapphire Holding S.a. r.l.
Subsidiary, Sale of Stock [Line Items]
Percentage ownership					9.00%	10.00%
Impact of Acquisition \| Modular Space Holdings, Inc
Subsidiary, Sale of Stock [Line Items]
Equity					$ 21,200
Class A Common Stock
Subsidiary, Sale of Stock [Line Items]
Common stock par value (in USD per share)					$ 0.0001		$ 0.0001
Shares registered during period (in shares)	10,373,102
Shares registered (in shares)	61,865,946
Shares registed, subject to transfer (in shares)	5,800,000
Class A Common Stock \| Modular Space Holdings, Inc
Subsidiary, Sale of Stock [Line Items]
Warrants exercise price (in USD per share)		$ 15.50
Class A Common Stock \| Common Stock \| Modular Space Holdings, Inc
Subsidiary, Sale of Stock [Line Items]
Stock consideration (in shares)		6,458,229
Class A Common Stock \| Sapphire Holding S.a. r.l.
Subsidiary, Sale of Stock [Line Items]
Percentage ownership					48.90%

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands		9 Months Ended
	Jan. 01, 2018	Sep. 30, 2018	Sep. 30, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 484,550	$ 484,550
Ending Balance		730,709
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]
Beginning balance	$ (49,497)	(49,497)	$ (56,928)
Total other comprehensive loss		(82)	8,914
Reclassifications to accumulated deficit		(2,540)
Ending Balance		$ (52,119)	$ (48,014)

Equity - Non-Controlling Interest (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			$ 484,550
Net loss attributable to non-controlling interest	$ (3,210)	$ 0	(3,715)	$ 0
Issuance of common stock and contribution of proceeds to WSII			139,119
Ending Balance	730,709		730,709
Non-Controlling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			48,931
Net loss attributable to non-controlling interest			(3,715)
Other comprehensive loss			(26)
Issuance of common stock and contribution of proceeds to WSII			7,574
Acquisition of ModSpace and the effect of the related financing transactions			13,614
Ending Balance	$ 66,378		$ 66,378

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (6,507)		$ (7,632)	$ (13,572)	$ (17,770)
Income Taxes [Line Items]
Effective tax rate	15.00%		36.20%	23.90%	33.30%
Discrete tax expense (benefit)	$ 600			$ (5,300)
Discrete tax expense (benefit) from state legislative changes		$ (4,300)		(4,300)
Income tax benefit (expense) related to foreign currency gains (losses)	(100)		$ (1,600)	$ 300	$ (4,800)
Income tax benefit for adjustment in provisional amounts for impacts of the tax act	$ 600
Scenario, Forecast
Income Taxes [Line Items]
Effective tax rate						14.80%
Income tax expense for partial valuation allowance						$ 8,000
Tax benefit from book over tax basis difference for subsidary						(2,300)
Permanent disallowance						6,600
Modular Space Holdings, Inc \| Scenario, Forecast
Income Taxes [Line Items]
Permanent disallowance						$ 5,700

Fair Value Measures (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	$ 1,614,945	$ 588,010
Fair Value \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	0	0
Fair Value \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	1,671,860	620,410
Fair Value \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	0	0
US ABL Facility \| Carrying Amount \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	830,573	297,323
US ABL Facility \| Fair Value \| Level 1 \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
US ABL Facility \| Fair Value \| Level 2 \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	857,500	310,000
US ABL Facility \| Fair Value \| Level 3 \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
Canadian ABL Facility \| Carrying Amount \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
Canadian ABL Facility \| Fair Value \| Level 1 \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
Canadian ABL Facility \| Fair Value \| Level 2 \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	1,549	0
Canadian ABL Facility \| Fair Value \| Level 3 \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
2022 Senior Secured Notes \| Carrying Amount \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	291,853	290,687
2022 Senior Secured Notes \| Fair Value \| Level 1 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
2022 Senior Secured Notes \| Fair Value \| Level 2 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	310,416	310,410
2022 Senior Secured Notes \| Fair Value \| Level 3 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
2023 Senior Secured Notes \| Carrying Amount \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	293,637	0
2023 Senior Secured Notes \| Fair Value \| Level 1 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
2023 Senior Secured Notes \| Fair Value \| Level 2 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	298,185	0
2023 Senior Secured Notes \| Fair Value \| Level 3 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
2023 Senior Unsecured Notes \| Carrying Amount \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	198,882	0
2023 Senior Unsecured Notes \| Fair Value \| Level 1 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
2023 Senior Unsecured Notes \| Fair Value \| Level 2 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	204,210	0
2023 Senior Unsecured Notes \| Fair Value \| Level 3 \| Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 0	$ 0

Restructuring - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 6,137	$ 1,156	$ 7,214	$ 2,124
Restructuring accrual	3,448	2,490	3,448	2,490	$ 967	$ 227	$ 2,130	$ 1,793
Operating Segments \| Modular - US
Restructuring Cost and Reserve [Line Items]
Restructuring costs	5,895	247	6,962	247
Operating Segments \| Modular - Other North America
Restructuring Cost and Reserve [Line Items]
Restructuring costs	242	17	252	17
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 0	$ 900	$ 0	$ 1,900

Restructuring - Summary of Activities in the Restructuring Accruals (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Restructuring Reserve [Roll Forward]
Balance at beginning of the period	$ 967	$ 2,130	$ 227	$ 1,793
Charges during the period	6,137	1,156	7,214	2,124
Cash payments during the period	(3,661)	(803)	(3,991)	(1,442)
Effects of movements in foreign exchange rates	(5)	(7)	2	15
Balance at end of period	$ 3,448	$ 2,490	$ 3,448	$ 2,490

Stock-Based Compensation - Narrative (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018 USD ($) shares	Sep. 30, 2018 USD ($) 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	0	589,257
Stock compensation expense	$ 1,050	$ 2,225
Unrecognized compensation expense for options	$ 2,800	$ 2,800
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards granted (in shares) \| shares	0	27,675
Vesting period		1 year
Stock compensation expense	$ 100	$ 200
Unrecognized compensation expense for awards	$ 200	$ 200
Unrecognized compensation expense, period for recognition		6 months
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards granted (in shares) \| shares	0	921,730
Number of awards forfeited (in shares) \| shares	0	35,050
Vesting period		4 years
Stock compensation expense	$ 800	$ 1,600
Compensation expense for awards, associated tax benefits	200	400
Unrecognized compensation expense for awards	10,500	$ 10,500
Unrecognized compensation expense, period for recognition		3 years 6 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	$ 400
Compensation expense for awards, associated tax benefits	$ 100	$ 100
Unrecognized compensation expense, period for recognition		3 years 6 months

Stock-Based Compensation - Restricted Stock Award Activity (Details) - Restricted Stock Awards	9 Months Ended
	Sep. 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
Granted (in USD per share) \| $ / shares	13.60
Forfeited (in USD per share) \| $ / shares	0
Ending balance (in USD per share) \| $ / shares	$ 13.60

Stock-Based Compensation - Schedule of Restricted Stock Activity (Details) - Restricted Stock Units	9 Months Ended
	Sep. 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
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)	3 Months Ended	9 Months Ended
	Sep. 30, 2018 $ / shares shares	Sep. 30, 2018 $ / shares shares
Number of Options
Beginning balance (in shares) \| shares		0
Granted (in shares) \| shares	0	589,257
Exercised (in shares) \| shares		0
Forfeited (in shares) \| shares		0
Ending balance (in shares) \| shares	589,257	589,257
Fully vested and exercisable options, end of year (in shares) \| shares	0	0
Weighted-Average Exercise Price per Share ($)
Beginning balance (in USD per share) \| $ / shares		$ 0
Granted (in USD per share) \| $ / shares		13.60
Exercised (in USD per share) \| $ / shares		0
Forfeited (in USD per share) \| $ / shares		0
Ending balance (in USD per share) \| $ / shares	$ 13.60	13.60
Fully vested and exercisable options, end of year (in USD per share) \| $ / shares	$ 0	$ 0

Stock-Based Compensation - Share-Based Compensation by Arrangement (Details) - $ / shares	9 Months Ended
	Sep. 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
Weighted-average grant date fair value (in USD per share)	$ 5.51

Segment Reporting - Narrative (Details)	9 Months Ended
Segment Reporting - Narrative (Details)	Sep. 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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues:
Modular leasing	$ 141,660	$ 75,320	$ 340,171	$ 217,261
Total Revenues	218,924	116,162	494,008	325,560
Cost of leasing and services:
Modular leasing	39,215	21,252	93,506	61,694
Depreciation of rental equipment	35,534	19,009	82,849	53,203
Gross profit (loss)	80,946	41,269	186,507	118,790
Adjusted EBITDA	64,618	29,385	142,026	77,578
Other selected data:
Selling, general and administrative expense	71,897	36,097	164,845	100,510
Other depreciation and amortization	3,720	1,905	7,726	5,736
Capital expenditures for rental fleet	46,742	25,508	111,505	75,810
Modular delivery and installation
Revenues:
Total Revenues	46,777	24,627	104,440	66,580
Cost of leasing and services:
Modular delivery and installation	42,390	23,932	98,038	64,404
New Units
Revenues:
Total Revenues	20,920	9,609	33,584	24,491
Cost of leasing and services:
Cost of sales	15,089	6,916	23,780	17,402
Rental Units
Revenues:
Total Revenues	9,567	6,606	15,813	17,228
Cost of leasing and services:
Cost of sales	5,750	3,784	9,328	10,067
Corporate & Other
Revenues:
Modular leasing		(155)		(450)
Total Revenues		(239)		(534)
Cost of leasing and services:
Modular leasing		0		0
Depreciation of rental equipment		0		0
Gross profit (loss)		(241)		(524)
Adjusted EBITDA		(2,753)		(10,197)
Other selected data:
Selling, general and administrative expense		7,644		15,653
Other depreciation and amortization		343		1,044
Capital expenditures for rental fleet		0		0
Corporate & Other \| Modular delivery and installation
Revenues:
Total Revenues		(3)		(3)
Cost of leasing and services:
Modular delivery and installation		0		0
Corporate & Other \| New Units
Revenues:
Total Revenues		0		0
Cost of leasing and services:
Cost of sales		2		(10)
Corporate & Other \| Rental Units
Revenues:
Total Revenues		(81)		(81)
Cost of leasing and services:
Cost of sales		0		0
Modular - US \| Operating Segments
Revenues:
Modular leasing	128,007	66,555	306,920	192,587
Total Revenues	197,625	103,678	444,525	289,302
Cost of leasing and services:
Modular leasing	36,204	19,000	85,766	55,713
Depreciation of rental equipment	31,702	15,676	72,606	44,030
Gross profit (loss)	73,007	37,766	169,556	107,535
Adjusted EBITDA	58,454	29,177	129,170	79,189
Other selected data:
Selling, general and administrative expense	66,102	24,337	150,248	72,464
Other depreciation and amortization	3,403	1,298	6,962	3,937
Capital expenditures for rental fleet	43,007	24,147	104,462	72,105
Modular - US \| Operating Segments \| Modular delivery and installation
Revenues:
Total Revenues	41,830	22,127	93,190	60,451
Cost of leasing and services:
Modular delivery and installation	37,782	21,545	87,032	58,612
Modular - US \| Operating Segments \| New Units
Revenues:
Total Revenues	19,193	9,074	30,157	21,630
Cost of leasing and services:
Cost of sales	13,905	6,487	21,347	15,172
Modular - US \| Operating Segments \| Rental Units
Revenues:
Total Revenues	8,595	5,922	14,258	14,634
Cost of leasing and services:
Cost of sales	5,025	3,204	8,218	8,240
Modular - Other North America \| Operating Segments
Revenues:
Modular leasing	13,653	8,920	33,251	25,124
Total Revenues	21,299	12,723	49,483	36,792
Cost of leasing and services:
Modular leasing	3,011	2,252	7,740	5,981
Depreciation of rental equipment	3,832	3,333	10,243	9,173
Gross profit (loss)	7,939	3,744	16,951	11,779
Adjusted EBITDA	6,164	2,961	12,856	8,586
Other selected data:
Selling, general and administrative expense	5,795	4,116	14,597	12,393
Other depreciation and amortization	317	264	764	755
Capital expenditures for rental fleet	3,735	1,361	7,043	3,705
Modular - Other North America \| Operating Segments \| Modular delivery and installation
Revenues:
Total Revenues	4,947	2,503	11,250	6,132
Cost of leasing and services:
Modular delivery and installation	4,608	2,387	11,006	5,792
Modular - Other North America \| Operating Segments \| New Units
Revenues:
Total Revenues	1,727	535	3,427	2,861
Cost of leasing and services:
Cost of sales	1,184	427	2,433	2,240
Modular - Other North America \| Operating Segments \| Rental Units
Revenues:
Total Revenues	972	765	1,555	2,675
Cost of leasing and services:
Cost of sales	$ 725	$ 580	$ 1,110	$ 1,827

Segment Reporting - Reconciliation of Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting Information [Line Items]
(Loss) income from continuing operations before income tax	$ (43,236)	$ (21,067)	$ (56,757)	$ (53,325)
Interest expense, net	43,447	26,447	67,321	74,922
Depreciation and amortization	39,254	20,914	90,575	58,939
Currency (gains) losses, net	(425)	(4,270)	1,171	(12,769)
Restructuring costs	6,137	1,156	7,214	2,124
Integration costs	7,453		14,868
Stock compensation expense	1,050		2,225
Transaction costs	10,672	5,233	14,790	6,095
Other (income) expense	266	972	619	1,592
Adjusted EBITDA	64,618	29,385	142,026	77,578
Bridge financing fees	20,500		20,500
Operating Segments \| Modular - US
Segment Reporting Information [Line Items]
(Loss) income from continuing operations before income tax	(44,519)	(1,070)	(55,360)	(6,280)
Interest expense, net	42,831	16,790	65,654	48,302
Depreciation and amortization	35,105	16,974	79,568	47,967
Currency (gains) losses, net	(112)	(3,834)	159	(11,233)
Restructuring costs	5,895	247	6,962	247
Integration costs	7,443		14,858
Stock compensation expense	1,050		2,225
Transaction costs	10,490	69	14,539	115
Other (income) expense	271	1	565	71
Adjusted EBITDA	58,454	29,177	129,170	79,189
Operating Segments \| Modular - Other North America
Segment Reporting Information [Line Items]
(Loss) income from continuing operations before income tax	1,283	(1,684)	(1,397)	(4,142)
Interest expense, net	616	1,134	1,667	3,350
Depreciation and amortization	4,149	3,597	11,007	9,928
Currency (gains) losses, net	(313)	(104)	1,012	(585)
Restructuring costs	242	17	252	17
Integration costs	10		10
Stock compensation expense	0		0
Transaction costs	182	0	251	0
Other (income) expense	(5)	1	54	18
Adjusted EBITDA	$ 6,164	2,961	$ 12,856	8,586
Corporate & Other
Segment Reporting Information [Line Items]
(Loss) income from continuing operations before income tax		(18,313)		(42,903)
Interest expense, net		8,523		23,270
Depreciation and amortization		343		1,044
Currency (gains) losses, net		(332)		(951)
Restructuring costs		892		1,860
Transaction costs		5,164		5,980
Other (income) expense		970		1,503
Adjusted EBITDA		$ (2,753)		$ (10,197)

Income (Loss) Per Share - Narrative (Details) - shares			3 Months Ended	9 Months Ended
Income (Loss) Per Share - Narrative (Details) - shares	Jan. 19, 2018	Nov. 29, 2017	Sep. 30, 2018	Sep. 30, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares released from 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	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	886,680
Restricted Stock 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)			27,675	27,675
Warrants
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)			44,750,000	44,750,000
Class A Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares placed in escrow (in shares)		12,425,000

Related Parties - Related Party Balances Included in Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Related Party Transactions [Abstract]
Receivables due from affiliates	$ 66	$ 2,863
Amounts due to affiliates	(1,465)	(1,235)
Total related party liabilities, net	$ (1,399)	$ 1,628

Related Parties - Narrative (Details) - USD ($)		3 Months Ended		9 Months Ended
Related Parties - Narrative (Details) - USD ($)	Nov. 29, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Aug. 22, 2018	Jun. 30, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Receivables due from affiliates		$ 66,000		$ 66,000				$ 2,863,000
Amounts due to affiliates		1,465,000		1,465,000				1,235,000
Affiliates
Related Party Transaction [Line Items]
Receivables due from affiliates		200,000		200,000				2,900,000
Purchases from affiliates		1,200,000	$ 500,000	3,000,000.0	$ 1,000,000.0
Affiliates \| Algeco Global
Related Party Transaction [Line Items]
Amounts due to affiliates		500,000		500,000				$ 1,200,000
Director
Related Party Transaction [Line Items]
Professional fees to affiliates		$ 100,000	$ 200,000	$ 1,100,000	$ 800,000
Minimum \| Affiliates
Related Party Transaction [Line Items]
Agreement term	6 months
Maximum \| Affiliates
Related Party Transaction [Line Items]
Agreement term	3 years
Sapphire Holding S.a. r.l. \| Margin Loan
Related Party Transaction [Line Items]
Debt, face amount						$ 125,000,000.0
Class A Common Stock \| Sapphire Holding S.a. r.l. \| Margin Loan
Related Party Transaction [Line Items]
Number of shares pledged for collateral (in shares)		49,041,906		49,041,906
Sapphire Holding S.a. r.l.
Related Party Transaction [Line Items]
Percentage ownership		9.00%		9.00%			10.00%
Sapphire Holding S.a. r.l. \| Class A Common Stock
Related Party Transaction [Line Items]
Percentage ownership		48.90%		48.90%

Related Parties - Related Party Transactions in Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Related Party Transaction [Line Items]
Leasing revenue from related parties	$ (104)	$ 0	$ (629)	$ 0
Management fees and recharge income on transactions with affiliates	0	(1,693)	0	(1,542)
Interest income on notes due from affiliates	0	(3,659)	0	(9,752)
Interest expense on notes due to affiliates	0	17,191	0	47,918
Total related party (income) expense, net	(1,652)	13,166	(2,177)	37,951
Rental Units
Related Party Transaction [Line Items]
Revenue from Related Parties	(1,548)	0	(1,548)	0
Remote accommodations
Related Party Transaction [Line Items]
Remote accommodations revenue and costs, net from affiliates	$ 0	$ 1,327	$ 0	$ 1,327

Subsequent Events - Additional Information (Details) - USD ($)	Nov. 08, 2018	Nov. 07, 2018	Nov. 06, 2018	Sep. 30, 2018	Dec. 31, 2017
Warrants, Not Issued in Connection with Acquisition of Modular Space Holdings \| Subsequent Event
Subsequent Event [Line Items]
Warrants exercise price (in USD per share)	$ 5.75
Number of shares called by each warrant (in shares)	0.1818	0.5
Warrants, Issued in Connection with Acquisition of Modular Space Holdings \| Subsequent Event
Subsequent Event [Line Items]
Warrants exercise price (in USD per share)	$ 15.50
Interest Rate Swap \| Subsequent Event
Subsequent Event [Line Items]
Notational amount			$ 400,000,000.0
Fixed interest rate			3.06%
Class A Common Stock
Subsequent Event [Line Items]
Common stock par value (in USD per share)				$ 0.0001	$ 0.0001
Class A Common Stock \| Subsequent Event
Subsequent Event [Line Items]
Common stock par value (in USD per share)	$ 0.0001