McGrath RentCorp (McGrath RentCorp) Interest Expense : $-45.8 Mil (TTM As of Mar. 2024)

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What is McGrath RentCorp Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. McGrath RentCorp's interest expense for the three months ended in Mar. 2024 was $ -12.7 Mil. Its interest expense for the trailing twelve months (TTM) ended in Mar. 2024 was $-45.8 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. McGrath RentCorp's Operating Income for the three months ended in Mar. 2024 was $ 42.7 Mil. McGrath RentCorp's Interest Expense for the three months ended in Mar. 2024 was $ -12.7 Mil. McGrath RentCorp's Interest Coverage for the quarter that ended in Mar. 2024 was 3.36. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

McGrath RentCorp Interest Expense Historical Data

The historical data trend for McGrath RentCorp's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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McGrath RentCorp Interest Expense Chart

McGrath RentCorp Annual Data

Trend

Dec14

Dec15

Dec16

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Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Expense

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-12.33

-8.79

-8.24

-12.23

-40.56

McGrath RentCorp Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Interest Expense	Get a 7-Day Free Trial															-7.46	-9.95	-11.03	-12.13	-12.70

McGrath RentCorp Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-45.8 Mil.

McGrath RentCorp (NAS:MGRC) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

McGrath RentCorp's Interest Expense for the three months ended in Mar. 2024 was $-12.7 Mil. Its Operating Income for the three months ended in Mar. 2024 was $42.7 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Mar. 2024 was $798.6 Mil.

McGrath RentCorp's Interest Coverage for the quarter that ended in Mar. 2024 is calculated as

Interest Coverage	=	-1	*	Operating Income (Q: Mar. 2024 )	/	Interest Expense (Q: Mar. 2024 )
	=	-1	*	42.731	/	-12.704
	=	3.36

The higher the ratio, the stronger the company's financial strength is.

McGrath RentCorp (McGrath RentCorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » McGrath RentCorp (NAS:MGRC) » Definitions » Interest Expense

Comparable Companies

Traded in Other Exchanges

MG8:Germany

Address

5700 Las Positas Road, Livermore, CA, USA, 94551-7800

Website

https://www.mgrc.com

McGrath RentCorp is a rental company. It is comprised of four reportable business segments: Modular building and portable storage segment (Mobile Modular), Electronic test equipment segment (TRS-RenTelco), Containment solutions for the storage of hazardous and non-hazardous liquids and solids segment (Adler Tanks) and Classroom manufacturing division selling modular classrooms in California (Enviroplex). The company generates its revenues majorily from the rental of its equipment on operating leases with sales of equipment occurring in the normal course of business.

Executives

Trease Kristina Van	officer: VP & Division Manager	5700 LAS POSITAS ROAD, LIVERMORE CA 94551
David M Whitney	officer: VP, Controller, PAO	5700 LOS POSITAS ROAD, LIVERMORE CA 94551
Elizabeth A Fetter	director	1400 MARINA WAY SOUTH, RICHMOND CA 94804
Philip B Hawkins	officer: VP & Division Manager	5700 LAS POSITAS ROAD, LIVERMORE CA 94551
Tara Wescott	officer: Vice President Human Resources	C/O MCGRATH RENTCORP, 5700 LAS POSITAS ROAD, LIVERMORE CA 94551
John Lieffrig	officer: VP & Division Manager	C/O MCGRATH RENTCORP, 5700 LAS POSITAS ROAD, LIVERMORE CA 94551
John P Skenesky	officer: VP and Division Manager	5700 LAS POSITAS ROAD, LIVERMORE CA 94551
Gilda Malek	officer: VP, Legal General Counsel	C/O MCGRATH RENTCORP, 5700 LAS POSITAS ROAD, LIVERMORE CA 94551
Dennis P Stradford	director
Kimberly Ann Box	director	7157 TREELINE CT., GRANITE BAY CA 95746
Nicolas C Anderson	director	3100 ZINFANDEL DRIVE, STE. 450, RANCHO CORDOVA CA 95670
Stuart Templeton Porter	officer: VP & Division Manager	C/O MCGRATH RENTCORP, 5700 LAS POSITAS ROAD, LIVERMORE CA 94551
Kay Dashner	officer: Senior Human Resources Advisor	5700 LAS POSITAS ROAD, LIVERMORE CA 94551
Morris Richard Smith	director	1225 17TH STREET, SUITE 1300, DENVER CO 80202
Smita Conjeevaram	director	70 HERETOLD ROAD, BRONXVILLE NY 17708