WillScot Holdings Corp PP&E Disclosure
| Estimated Useful Life | Residual Value | ||||||||||
| Modular space units | 5 - 30 years | 0 - 55% | |||||||||
| Portable storage units | 7 - 30 years | 20 - 55% | |||||||||
| VAPS and other related rental equipment | 1 - 10 years | 0% | |||||||||
| Estimated Useful Life | |||||
| Buildings and leasehold improvements | 15 - 40 years | ||||
| Vehicles, machinery, and equipment | 5 - 30 years | ||||
| Furniture and fixtures | 3 - 5 years | ||||
| Software | 3 - 10 years | ||||
| (in thousands) | 2025 | 2024 | |||||||||
| Modular space units | $ | 3,836,964 | $ | 3,658,086 | |||||||
| Portable storage units | 1,097,908 | 1,070,025 | |||||||||
| Value-added products | 229,920 | 220,205 | |||||||||
| Total rental equipment | 5,164,792 | 4,948,316 | |||||||||
| Less: accumulated depreciation | (2,071,471) | (1,570,377) | |||||||||
| Rental equipment, net | $ | 3,093,321 | $ | 3,377,939 | |||||||
| (in thousands) | 2025 | 2024 | |||||||||
| US | $ | 4,711,272 | $ | 4,532,692 | |||||||
| Canada | 405,239 | 374,446 | |||||||||
| Mexico | 48,281 | 41,178 | |||||||||
| Total rental equipment | 5,164,792 | 4,948,316 | |||||||||
| Less: accumulated depreciation | (2,071,471) | (1,570,377) | |||||||||
| Rental equipment, net | $ | 3,093,321 | $ | 3,377,939 | |||||||
| (in thousands) | 2025 | 2024 | |||||||||
| Land, buildings, and leasehold improvements | $ | 187,789 | $ | 184,475 | |||||||
| Vehicles and equipment | 325,255 | 272,587 | |||||||||
| Office furniture, fixtures and software | 123,261 | 119,622 | |||||||||
| Total property, plant and equipment | 636,305 | 576,684 | |||||||||
| Less: accumulated depreciation | (246,085) | (213,611) | |||||||||
| Property, plant and equipment, net | $ | 390,220 | $ | 363,073 | |||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 19, 2026 | Showing above |
| 2024 | Feb 20, 2025 | |
| 2023 | Feb 20, 2024 | |
| 2022 | Feb 22, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Mar 2, 2020 | |
| 2018 | Mar 15, 2019 | |
| 2017 | Mar 16, 2018 | |
About PP&E Disclosures
The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.
Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.