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Earnings (Loss) Per Share (Details) (USD $)
In Millions, except Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2010
Sep. 30, 2010
Jun. 30, 2010
Mar. 31, 2010
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]                      
Antidilutive securities excluded (in shares)                 2,200,000 10,900,000 11,800,000
Numerator [Abstract]                      
Income (loss) from continuing operations $ 28 [1] $ 65 $ 28 $ (20) $ (17) [2] $ 23 $ 12 $ (40) $ 101 $ (22) $ (60)
Income (loss) from continuing operations available to common stockholders                 101 (22) (60)
Loss from discontinued operation                 0 (4) (2)
Net income (loss) available to common stockholders                 101 (26) (62)
Denominator [Abstract]                      
Denominator for basic earnings (loss) per share - weighted-average common shares (in shares)                 62,184,000 60,455,000 60,100,000
Denominator for diluted earnings (loss) per share - adjusted weighted-average common shares (in shares)                 73,349,000 60,455,000 60,100,000
Earnings Per Share, Basic [Abstract]                      
Income (loss) from continuing operations (in dollars per share) $ 0.45 [1] $ 1.04 $ 0.45 $ (0.34) $ (0.29) [2] $ 0.37 $ 0.20 $ (0.67) $ 1.62 $ (0.38) $ (0.98)
Loss from discontinued operation (in dollars per share)                 $ 0.00 $ (0.06) $ (0.04)
Net income (loss) (in dollars per share)                 $ 1.62 $ (0.44) $ (1.02)
Earnings Per Share, Diluted [Abstract]                      
Income (loss) from continuing operations (in dollars per share) $ 0.39 [1],[3] $ 0.91 [3] $ 0.38 [3] $ (0.34) [3] $ (0.29) [2],[3] $ 0.33 [3] $ 0.18 [3] $ (0.67) [3] $ 1.38 [3] $ (0.38) [3] $ (0.98)
Loss from discontinued operation (in dollars per share)                 $ 0.00 $ (0.06) $ (0.04)
Net income (loss) (in dollars per share)                 $ 1.38 $ (0.44) $ (1.02)
Employee stock options and warrants (member)
                     
Denominator [Abstract]                      
Employee stock options, warrants and restricted stock units (in shares)                 1,037,000      
Convertible subordinated notes - 1 7/8 percent
                     
Numerator [Abstract]                      
Convertible debt interest - 1 7/8 notes                 $ 0 $ 0 $ 0
Denominator [Abstract]                      
Convertible subordinated notes (in shares)                 1,015,000      
Convertible subordinated notes - four percent
                     
Denominator [Abstract]                      
Convertible subordinated notes (in shares)                 8,532,000      
Restricted stock units
                     
Denominator [Abstract]                      
Employee stock options, warrants and restricted stock units (in shares)                 581,000      
[1] During the fourth quarter of 2011, we recognized $19 of charges associated with the proposed RSC merger. Additionally, during the quarter, we closed 18 branches and recognized restructuring charges of $14. During the quarter, we also recognized asset impairment charges of $3 which are primarily reflected in non-rental depreciation and amortization and principally relate to write-offs of leasehold improvements and other fixed assets in connection with the consolidation of our branch network. In the quarter, we also purchased an aggregate of $32 of QUIPS for $32. In connection with this transaction, we retired $32 principal amount of our subordinated convertible debentures and recognized a loss of $1 in interest expense-subordinated convertible debentures, net, inclusive of the write-off of capitalized debt issuance costs. Interest expense, net for the fourth quarter of 2011 also includes a loss of $3 reflecting write-offs of debt issuance costs associated with the amendment of our ABL facility discussed above. During the quarter, we also recognized a benefit of $8 in cost of equipment rentals, excluding depreciation related to our provision for self-insurance reserves.
[2] During the fourth quarter of 2010, we repurchased or redeemed and subsequently retired an aggregate of $814 principal amount of our outstanding 7 3/4 percent Senior Subordinated Notes due 2013, 7 percent Senior Subordinated Notes due 2014 and 1 7/8 percent Convertible Senior Subordinated Notes due 2023. Interest expense, net for the fourth quarter of 2010 includes a charge of $25, representing the difference between the net carrying amount of these securities and the total purchase price of $827. The $25 charge includes a $4 write-off of a previously terminated derivative transaction. During the quarter, we also recognized restructuring charges of $15 related to the closure of 22 branches and reductions in headcount of approximately 100, and recognized asset impairment charges of $6. These asset impairment charges are primarily reflected in non-rental depreciation and amortization and principally relate to write-offs of leasehold improvement and other fixed assets in connection with the consolidation of our branch network. Additionally, the income tax provision (benefit) for the quarter includes a benefit of $7 related to a correction of a deferred tax asset recognized in prior periods. During the quarter, we also recognized a charge of $24 related to our provision for self-insurance reserves, comprised of $18 recorded in cost of equipment rentals, excluding depreciation, and $6 recorded in discontinued operation. The charge reflected recent adverse experience in our portfolio of automobile and general liability claims, as well as worker’s compensation claims. The discontinued operation component of the charge is reflected net of taxes in our consolidated statements of income.
[3] Diluted earnings (loss) per share from continuing operations includes the after-tax impacts of the following: First Quarter Second Quarter Third Quarter Fourth Quarter Full YearFor the year ended December 31, 2011: RSC merger related costs (4)$— $— $— $(0.25) $(0.25)Restructuring charge (5)(0.01) (0.01) (0.01) (0.12) (0.16)Losses on repurchase/retirement of debt securities and subordinated convertible debentures, and ABL amendment (6)(0.01) — — (0.03) (0.04)Asset impairment charge (7)— (0.01) — (0.03) (0.04)For the year ended December 31, 2010: Restructuring charge (5)(0.06) $(0.06) $(0.06) $(0.15) $(0.34)(Losses) gains on repurchase/retirement of debt securities (6)(0.04) 0.01 — (0.24) (0.28)Asset impairment charge (7)— (0.02) (0.01) (0.06) (0.09)