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Derivatives (Tables)
 6 Months Ended
Jun. 30, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Effect of derivatives on consolidated statements of income
The effect of our derivative instruments on our condensed consolidated statements of operations for the three and six months ended June 30, 2012 and 2011 was as follows:
 
 
 
 
Three Months Ended June 30, 2012
 
Three Months Ended June 30, 2011
 
Location of income
(expense)
recognized on
derivative/hedged item
 
Amount of  income
(expense)
recognized
on derivative
 
Amount of  income
(expense)
recognized
on hedged item
 
Amount of  income
(expense)
recognized
on derivative
 
Amount of  income
(expense)
recognized
on hedged item
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Fixed price diesel swaps
Other income
(expense), net (1)
 
 $ *

 
 
 
 $ *

 
 
 
Cost of equipment
rentals, excluding
depreciation (2),
(3)
 
 *

 
$
(6
)
 
1

 
$
(7
)
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Foreign currency forward contracts
Other income
(expense), net
 
(1
)
 
1

 
*

 
*

 
 
 
Six Months Ended June 30, 2012
 
Six Months Ended June 30, 2011
 
Location of income
(expense)
recognized on
derivative/hedged item
 
Amount of  income
(expense)
recognized
on derivative
 
Amount of  income
(expense)
recognized
on hedged item
 
Amount of  income
(expense)
recognized
on derivative
 
Amount of  income
(expense)
recognized
on hedged item
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Fixed price diesel swaps
Other income
(expense), net (1)
 
 $ *

 
 
 
 $ *

 
 
 
Cost of equipment
rentals, excluding
depreciation (2),
(3)
 
 *

 
$
(11
)
 
1

 
$
(10
)
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Foreign currency forward contracts
Other income
(expense), net
 
(1
)
 
1

 
4

 
(4
)
*
Amounts are insignificant (less than $1).
(1)
Represents the ineffective portion of the fixed price diesel swaps.
(2)
Amounts recognized on derivative represent the effective portion of the fixed price diesel swaps.
(3)
Amounts recognized on hedged item reflect the use of 1.5 million and 1.7 million gallons of diesel covered by the fixed price swaps during the three months ended June 30, 2012 and 2011, respectively, and the use of 2.7 million and 2.6 million gallons of diesel covered by the fixed price swaps during the six months ended June 30, 2012 and 2011, respectively.