(17) Segment Reporting

Prior to the ETS Acquisition, the Company’s operations were comprised of two reportable segments: North America and the U.K., both of which offer portable storage solutions. Discrete financial data on each of the Company’s products is not available and it would be impractical to collect and maintain financial data in such a manner. As a result of the ETS Acquisition, the Company established a new specialty containment reporting segment. Operations related to ETS are included in Mobile Mini’s consolidated results for the three months ended March 31, 2015.

The results for each segment are reviewed discretely by senior management. Within their segment, locations generally have similar economic characteristics covering all products rented or sold, including customer base, sales personnel, advertising, yard facilities, general and administrative costs and field operations management.

All of the Company’s locations operate in their local currency and, although the Company is exposed to foreign exchange rate fluctuation in foreign markets where the Company rents and sells its products, the Company does not believe such exposure will have a significant impact on its results of operations.

The following tables set forth certain information regarding each of the Company’s segments for the three month periods ended March 31, 2015 and 2014.

 

		For the Three Months Ended March 31, 2015
		Portable Storage
		North America				United Kingdom				Total				Specialty Containment				Consolidated
		(In thousands)
Revenues:
Rental		$	78,984			$	20,020			$	99,004			$	22,024			$	121,028
Sales			4,983				979				5,962				762				6,724
Other			1,439				90				1,529				3,348				4,877
Total revenues			85,406				21,089				106,495				26,134				132,629
Costs and expenses:
Rental, selling and general expenses			53,580				13,652				67,232				16,750				83,982
Cost of sales			3,122				742				3,864				333				4,197
Restructuring expenses			217				—				217				266				483
Asset impairment charge, net			64,726				—				64,726				—				64,726
Depreciation and amortization			7,890				1,576				9,466				6,073				15,539
Total costs and expenses			129,535				15,970				145,505				23,422				168,927
(Loss) income from operations		$	(44,129	)		$	5,119			$	(39,010	)		$	2,712			$	(36,298	)
Interest expense, net of interest income		$	6,149			$	218			$	6,367			$	2,692			$	9,059
Income tax (benefit) provision			(18,998	)			959				(18,039	)			8				(18,031	)

		For the Three Months Ended March 31, 2014
		Portable Storage
		North America				United Kingdom				Total				Specialty Containment				Consolidated
		(In thousands)
Revenues:
Rental		$	75,483			$	18,597			$	94,080			$	—			$	94,080
Sales			6,578				1,288				7,866				—				7,866
Other			354				104				458				—				458
Total revenues			82,415				19,989				102,404				—				102,404
Costs and expenses:
Rental, selling and general expenses			54,707				13,649				68,356				—				68,356
Cost of sales			4,590				963				5,553				—				5,553
Restructuring expenses			397				188				585				—				585
Asset impairment charge, net			159				124				283				—				283
Depreciation and amortization			7,418				1,727				9,145				—				9,145
Total costs and expenses			67,271				16,651				83,922				—				83,922
Income from operations		$	15,144			$	3,338			$	18,482			$	—			$	18,482
Interest expense, net of interest income		$	6,717			$	270			$	6,987			$	—			$	6,987
Income tax provision			3,299				755				4,054				—				4,054

The previous schedules include revenues in the U.S. of $110.5 million and $81.1 million for the three month periods ended March 31, 2015 and 2014, respectively.

Assets related to the Company’s segments include the following:

 

		Portable Storage
		North America				United Kingdom				Total				Specialty Containment				Consolidated
		(In thousands)
As of March 31, 2015:
Goodwill		$	458,852			$	61,634			$	520,486			$	182,851			$	703,337
Intangibles			1,912				618				2,530				74,435				76,965
Rental Fleet			755,434				140,732				896,166				123,497				1,019,663
Property Plant and Equipment			87,153				15,511				102,664				14,071				116,735
As of December 31, 2014:
Goodwill		$	459,234			$	64,402			$	523,636			$	181,972			$	705,608
Intangibles			2,119				651				2,770				75,615				78,385
Rental Fleet			825,158				140,679				965,837				121,219				1,087,056
Property Plant and Equipment			82,514				16,488				99,002				14,173				113,175

The previous schedules include assets in the U.S. of $1.7 billion as of March 31, 2015 and December 31, 2014.