Condensed Consolidating Financial Information of Guarantor Subsidiaries (Tables)

3 Months Ended

Mar. 31, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEET

March 31, 2012

	Parent		URNA			Guarantor Subsidiaries		Non-Guarantor Subsidiaries						Eliminations			Total
								Foreign			SPV (1)
ASSETS
Cash and cash equivalents	$	—	$	3		$	—	$	23		$	—		$	—		$	26
Accounts receivable, net	—		12			9		83			313			—			417
Intercompany receivable (payable)	120		(746		)	722		(158		)	(86		)	148			—
Inventory	—		51			22		12			—			—			85
Prepaid expenses and other assets	—		65			—		12			1			—			78
Deferred taxes	—		45			4		1			—			—			50
Total current assets	120		(570		)	757		(27		)	228			148			656
Restricted cash (note 5)	—		—			—		—			2,850			—			2,850
Rental equipment, net	—		1,482			921		462			—			—			2,865
Property and equipment, net	41		181			126		32			—			—			380
Investments in subsidiaries	249		2,155			482		—			—			(2,886		)	—
Goodwill and other intangibles, net	—		171			101		142			—			—			414
Other long-term assets	5		59			—		3			65			—			132
Total assets	$	415	$	3,478		$	2,387	$	612		$	3,143		$	(2,738	)	$	7,297
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	$	131	$	7		$	—	$	3		$	230		$	—		$	371
Accounts payable	—		255			87		42			—			—			384
Accrued expenses and other liabilities	32		172			47		27			13			—			291
Total current liabilities	163		434			134		72			243			—			1,046
Long-term debt	—		2,613			146		6			2,825			—			5,590
Subordinated convertible debentures	55		—			—		—			—			—			55
Deferred taxes	16		180			175		48			—			—			419
Other long-term liabilities	54		2			—		4			—			—			60
Total liabilities	288		3,229			455		130			3,068			—			7,170
Temporary equity (note 5)	37		—			—		—			—			—			37
Total stockholders’ equity (deficit)	90		249			1,932		482			75			(2,738		)	90
Total liabilities and stockholders’ equity (deficit)	$	415	$	3,478		$	2,387	$	612		$	3,143		$	(2,738	)	$	7,297

(1) Includes debt issued by Funding SPV associated with the proposed merger with RSC, as discussed further in note 5 to our condensed consolidated financial statements.

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2011

	Parent		URNA			Guarantor Subsidiaries		Non-Guarantor Subsidiaries					Eliminations			Total
								Foreign			SPV
ASSETS
Cash and cash equivalents	$	—	$	6		$	—	$	30		$	—	$	—		$	36
Accounts receivable, net	—		19			9		98			338		—			464
Intercompany receivable (payable)	114		(876		)	772		(154		)	—		144			—
Inventory	—		21			15		8			—		—			44
Prepaid expenses and other assets	—		55			1		19			—		—			75
Deferred taxes	—		100			3		1			—		—			104
Total current assets	114		(675		)	800		2			338		144			723
Rental equipment, net	—		1,345			836		436			—		—			2,617
Property and equipment, net	41		177			120		28			—		—			366
Investments in subsidiaries	227		2,144			462		—			—		(2,833		)	—
Goodwill and other intangibles, net	—		130			102		140			—		—			372
Other long-term assets	4		60			1		—			—		—			65
Total assets	$	386	$	3,181		$	2,321	$	606		$	338	$	(2,689	)	$	4,143
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	$	129	$	8		$	—	$	3		$	255	$	—		$	395
Accounts payable	—		120			47		39			—		—			206
Accrued expenses and other liabilities	31		139			48		45			—		—			263
Total current liabilities	160		267			95		87			255		—			864
Long-term debt	—		2,444			142		6			—		—			2,592
Subordinated convertible debentures	55		—			—		—			—		—			55
Deferred taxes	16		241			165		48			—		—			470
Other long-term liabilities	52		2			2		3			—		—			59
Total liabilities	283		2,954			404		144			255		—			4,040
Temporary equity (note 5)	39		—			—		—			—		—			39
Total stockholders’ equity (deficit)	64		227			1,917		462			83		(2,689		)	64
Total liabilities and stockholders’ equity (deficit)	$	386	$	3,181		$	2,321	$	606		$	338	$	(2,689	)	$	4,143

Condensed Consolidating Statement of Operations

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended March 31, 2012

	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
										Foreign		SPV (1)
Revenues:
Equipment rentals	$	—		$	250		$	183		$	90	$	—		$	—		$	523
Sales of rental equipment	—			39			26			11		—			—			76
Sales of new equipment	—			8			5			5		—			—			18
Contractor supplies sales	—			8			5			5		—			—			18
Service and other revenues	—			11			5			5		—			—			21
Total revenues	—			316			224			116		—			—			656
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			115			88			43		—			—			246
Depreciation of rental equipment	—			59			37			19		—			—			115
Cost of rental equipment sales	—			24			16			7		—			—			47
Cost of new equipment sales	—			7			4			4		—			—			15
Cost of contractor supplies sales	—			4			4			4		—			—			12
Cost of service and other revenues	—			6			2			—		—			—			8
Total cost of revenues	—			215			151			77		—			—			443
Gross profit	—			101			73			39		—			—			213
Selling, general and administrative expenses	10			34			36			17		5			—			102
RSC merger related costs	—			10			—			—		—			—			10
Restructuring charge	—			—			—			—		—			—			—
Non-rental depreciation and amortization	4			4			4			2		—			—			14
Operating (loss) income	(14		)	53			33			20		(5		)	—			87
Interest expense (income), net	3			51			1			1		13			(1		)	68
Interest expense-subordinated convertible debentures	1			—			—			—		—			—			1
Other (income) expense, net	(18		)	16			9			3		(11		)	—			(1		)
(Loss) income before (benefit) provision for income taxes	—			(14		)	23			16		(7		)	1			19
(Benefit) provision for income taxes	—			(22		)	28			3		(3		)	—			6
Income (loss) before equity in net earnings (loss) of subsidiaries	—			8			(5		)	13		(4		)	1			13
Equity in net earnings (loss) of subsidiaries	13			5			14			—		—			(32		)	—
Net income (loss)	13			13			9			13		(4		)	(31		)	13
Change in accumulated other comprehensive income	10			10			9			5		—			(24		)	10
Comprehensive income (loss)	$	23		$	23		$	18		$	18	$	(4	)	$	(55	)	$	23

(1) Includes interest expense on the debt issued by Funding SPV associated with the proposed merger with RSC, as discussed further in note 5 to our condensed consolidated financial statements.

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended March 31, 2011

	Parent			URNA			Guarantor Subsidiaries		Non-Guarantor Subsidiaries					Eliminations			Total
									Foreign		SPV
Revenues:
Equipment rentals	$	—		$	216		$	149	$	69	$	—		$	—		$	434
Sales of rental equipment	—			18			9		5		—			—			32
Sales of new equipment	—			6			4		5		—			—			15
Contractor supplies sales	—			9			6		6		—			—			21
Service and other revenues	—			12			5		4		—			—			21
Total revenues	—			261			173		89		—			—			523
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			117			81		35		—			—			233
Depreciation of rental equipment	—			53			33		13		—			—			99
Cost of rental equipment sales	—			10			5		3		—			—			18
Cost of new equipment sales	—			6			3		3		—			—			12
Cost of contractor supplies sales	—			6			4		4		—			—			14
Cost of service and other revenues	—			6			2		1		—			—			9
Total cost of revenues	—			198			128		59		—			—			385
Gross profit	—			63			45		30		—			—			138
Selling, general and administrative expenses	5			39			31		15		5			—			95
Restructuring charge	—			—			1		—		—			—			1
Non-rental depreciation and amortization	3			4			4		1		—			—			12
Operating (loss) income	(8		)	20			9		14		(5		)	—			30
Interest expense (income), net	3			51			2		—		1			(1		)	56
Interest expense-subordinated convertible debentures	2			—			—		—		—			—			2
Other (income) expense, net	(15		)	14			6		3		(9		)	—			(1		)
Income (loss) before (benefit) provision for income taxes	2			(45		)	1		11		3			1			(27		)
(Benefit) provision for income taxes	—			(9		)	—		2		—			—			(7		)
Income (loss) before equity in net (loss) earnings of subsidiaries	2			(36		)	1		9		3			1			(20		)
Equity in net (loss) earnings of subsidiaries	(22		)	14			10		—		—			(2		)	—
Net (loss) income	(20		)	(22		)	11		9		3			(1		)	(20		)
Change in accumulated other comprehensive income	12			12			11		5		—			(28		)	12
Comprehensive (loss) income	$	(8	)	$	(10	)	$	22	$	14	$	3		$	(29	)	$	(8	)

Condensed Consolidating Statement of Cash Flows

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

For the Three Months Ended March 31, 2012

	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations		Total
										Foreign			SPV
Net cash provided by operating activities	$	3		$	85		$	109		$	28		$	29		$	—	$	254
Net cash used in investing activities	(4		)	(252		)	(110		)	(34		)	—			—		(400		)
Net cash provided by (used in) financing activities	1			164			1			(2		)	(29		)	—		135
Effect of foreign exchange rates	—			—			—			1			—			—		1
Net decrease in cash and cash equivalents	—			(3		)	—			(7		)	—			—		(10		)
Cash and cash equivalents at beginning of period	—			6			—			30			—			—		36
Cash and cash equivalents at end of period	$	—		$	3		$	—		$	23		$	—		$	—	$	26

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

For the Three Months Ended March 31, 2011

	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations		Total
										Foreign			SPV
Net cash provided by operating activities	$	7		$	87		$	21		$	18		$	21		$	—	$	154
Net cash used in investing activities	(4		)	(39		)	(22		)	(19		)	—			—		(84		)
Net cash (used in) provided by financing activities	(3		)	(50		)	1			—			(21		)	—		(73		)
Effect of foreign exchange rates	—			—			—			5			—			—		5
Net (decrease) increase in cash and cash equivalents	—			(2		)	—			4			—			—		2
Cash and cash equivalents at beginning of period	—			4			—			199			—			—		203
Cash and cash equivalents at end of period	$	—		$	2		$	—		$	203		$	—		$	—	$	205