ALTA EQUIPMENT GROUP INC
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 7, 2024
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Property and Equipment
NOTE 6 — PROPERTY AND EQUIPMENT
Property and equipment, net, consisted of the following:
| June 30, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| Land | $3.2 | $2.1 |
| Rental fleet | 617.2 | 600.8 |
| Buildings, equipment, and leasehold improvements: | ||
| Machinery and equipment | 9.6 | 8.5 |
| Autos and trucks | 7.7 | 7.7 |
| Buildings and leasehold improvements | 21.9 | 20.8 |
| Construction in progress | 6.9 | 6.1 |
| Finance lease right-of-use assets | 58.4 | 48.4 |
| Office equipment | 5.5 | 4.9 |
| Computer equipment | 14.3 | 13.3 |
| Total cost | 744.7 | 712.6 |
| Less: accumulated depreciation and amortization: | ||
| Rental fleet | (212.9) | (209.4) |
| Buildings, equipment, autos and trucks, leasehold improvements, finance leases and office and computer equipment | (46.4) | (38.4) |
| Total accumulated depreciation and amortization | (259.3) | (247.8) |
| Property and equipment, net | $485.4 | $464.8 |
Total depreciation and amortization on property and equipment was $31.4 million and $27.7 million for the three months ended June 30, 2024 and 2023, respectively, and $59.7 million and $51.1 million for the six months ended June 30, 2024 and 2023, respectively.
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