Condensed Consolidating Financial Information of Guarantor Subsidiaries (Tables)

6 Months Ended

Jun. 30, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

CONDENSED CONSOLIDATING BALANCE SHEET

June 30, 2012



	Parent		URNA		Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations			Total
	Parent		URNA		Guarantor Subsidiaries			Foreign			SPV			Eliminations			Total
ASSETS
Cash and cash equivalents	$	—	$	14	$	—		$	27		$	—		$	—		$	41
Accounts receivable, net	—		17		—			106			581			—			704
Intercompany receivable (payable)	72		2		(64		)	(155		)	(1		)	146			—
Inventory	—		88		—			14			—			—			102
Prepaid expenses and other assets	—		95		1			10			—			—			106
Deferred taxes	—		64		—			2			—			—			66
Total current assets	72		280		(63		)	4			580			146			1,019
Rental equipment, net	—		4,493		—			602			—			—			5,095
Property and equipment, net	43		322		20			34			—			—			419
Investments in subsidiaries	1,517		764		494			—			—			(2,775		)	—
Goodwill and other intangibles, net	—		4,273		—			8			—			—			4,281
Other long-term assets	5		122		—			1			—			—			128
Total assets	$	1,637	$	10,254	$	451		$	649		$	580		$	(2,629	)	$	10,942
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	$	133	$	35	$	—		$	1		$	252		$	—		$	421
Accounts payable	—		549		—			56			—			—			605
Accrued expenses and other liabilities	1		342		22			30			—			—			395
Total current liabilities	134		926		22			87			252			—			1,421
Long-term debt	—		6,725		139			4			—			—			6,868
Subordinated convertible debentures	55		—		—			—			—			—			55
Deferred taxes	17		1,027		—			62			—			—			1,106
Other long-term liabilities	1		59		—			2			—			—			62
Total liabilities	207		8,737		161			155			252			—			9,512
Temporary equity (note 8)	35		—		—			—			—			—			35
Total stockholders’ equity (deficit)	1,395		1,517		290			494			328			(2,629		)	1,395
Total liabilities and stockholders’ equity (deficit)	$	1,637	$	10,254	$	451		$	649		$	580		$	(2,629	)	$	10,942

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2011



	Parent		URNA			Guarantor Subsidiaries		Non-Guarantor Subsidiaries					Eliminations			Total
	Parent		URNA			Guarantor Subsidiaries		Foreign			SPV		Eliminations			Total
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 8)	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 OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended June 30, 2012



	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations			Total
										Foreign			SPV (1)
Revenues:
Equipment rentals	$	—		$	665		$	66		$	114		$	—		$	—		$	845
Sales of rental equipment	—			66			6			9			—			—			81
Sales of new equipment	—			13			2			7			—			—			22
Contractor supplies sales	—			16			2			5			—			—			23
Service and other revenues	—			14			3			5			—			—			22
Total revenues	—			774			79			140			—			—			993
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			272			29			49			—			—			350
Depreciation of rental equipment	—			136			13			23			—			—			172
Cost of rental equipment sales	—			47			4			5			—			—			56
Cost of new equipment sales	—			10			2			5			—			—			17
Cost of contractor supplies sales	—			12			1			3			—			—			16
Cost of service and other revenues	—			4			1			3			—			—			8
Total cost of revenues	—			481			50			88			—			—			619
Gross profit	—			293			29			52			—			—			374
Selling, general and administrative expenses	9			104			11			17			5			—			146
RSC merger related costs	—			80			—			—			—			—			80
Restructuring charge	—			52			—			1			—			—			53
Non-rental depreciation and amortization	3			41			1			4			—			—			49
Operating (loss) income	(12		)	16			17			30			(5		)	—			46
Interest expense (income), net	3			68			32			1			18			(1		)	121
Interest expense-subordinated convertible debentures	1			—			—			—			—			—			1
Other (income) expense, net	(20		)	14			—			4			(10		)	—			(12		)
Income (loss) before provision (benefit) for income taxes	4			(66		)	(15		)	25			(13		)	1			(64		)
Provision (benefit) for income taxes	1			(3		)	(11		)	6			(5		)	—			(12		)
Income (loss) before equity in net (loss) earnings of subsidiaries	3			(63		)	(4		)	19			(8		)	1			(52		)
Equity in net (loss) earnings of subsidiaries	(55		)	8			19			—			—			28			—
Net (loss) income	(52		)	(55		)	15			19			(8		)	29			(52		)
Other comprehensive (loss) income	(12		)	(12		)	(10		)	(6		)	—			28			(12		)
Comprehensive (loss) income	$	(64	)	$	(67	)	$	5		$	13		$	(8	)	$	57		$	(64	)


(1)	Includes interest expense prior to the April 30, 2012 RSC acquisition date on the merger financing debt issued by Funding SPV, as discussed further in note 8 to our condensed consolidated financial statements.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended June 30, 2011



	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
										Foreign		SPV
Revenues:
Equipment rentals	$	—		$	256		$	178		$	90	$	—		$	—		$	524
Sales of rental equipment	—			23			12			6		—			—			41
Sales of new equipment	—			11			5			5		—			—			21
Contractor supplies sales	—			9			7			6		—			—			22
Service and other revenues	—			10			6			5		—			—			21
Total revenues	—			309			208			112		—			—			629
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			117			87			42		—			—			246
Depreciation of rental equipment	—			55			33			15		—			—			103
Cost of rental equipment sales	—			16			9			3		—			—			28
Cost of new equipment sales	—			8			4			5		—			—			17
Cost of contractor supplies sales	—			7			5			4		—			—			16
Cost of service and other revenues	—			3			2			3		—			—			8
Total cost of revenues	—			206			140			72		—			—			418
Gross profit	—			103			68			40		—			—			211
Selling, general and administrative expenses	8			32			34			20		6			—			100
Restructuring charge	—			2			—			—		—			—			2
Non-rental depreciation and amortization	4			4			5			1		—			—			14
Operating (loss) income	(12		)	65			29			19		(6		)	—			95
Interest expense (income), net	3			53			1			1		1			(2		)	57
Interest expense-subordinated convertible debentures	2			—			—			—		—			—			2
Other (income) expense, net	(17		)	11			9			3		(9		)	—			(3		)
Income before provision (benefit) for income taxes	—			1			19			15		2			2			39
Provision (benefit) for income taxes	—			11			(6		)	7		(1		)	—			11
(Loss) income from continuing operations	—			(10		)	25			8		3			2			28
Loss from discontinued operation, net of taxes	—			(1		)	—			—		—			—			(1		)
(Loss) income before equity in net earnings (loss) of subsidiaries	—			(11		)	25			8		3			2			27
Equity in net earnings (loss) of subsidiaries	27			38			10			—		—			(75		)	—
Net income (loss)	27			27			35			8		3			(73		)	27
Other comprehensive income (loss)	1			1			2			1		—			(4		)	1
Comprehensive income (loss)	$	28		$	28		$	37		$	9	$	3		$	(77	)	$	28

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Six Months Ended June 30, 2012



	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations			Total
										Foreign			SPV (1)
Revenues:
Equipment rentals	$	—		$	915		$	249		$	204		$	—		$	—		$	1,368
Sales of rental equipment	—			105			32			20			—			—			157
Sales of new equipment	—			21			7			12			—			—			40
Contractor supplies sales	—			24			7			10			—			—			41
Service and other revenues	—			25			8			10			—			—			43
Total revenues	—			1,090			303			256			—			—			1,649
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			387			117			92			—			—			596
Depreciation of rental equipment	—			195			50			42			—			—			287
Cost of rental equipment sales	—			71			20			12			—			—			103
Cost of new equipment sales	—			17			6			9			—			—			32
Cost of contractor supplies sales	—			16			5			7			—			—			28
Cost of service and other revenues	—			10			3			3			—			—			16
Total cost of revenues	—			696			201			165			—			—			1,062
Gross profit	—			394			102			91			—			—			587
Selling, general and administrative expenses	19			138			47			34			10			—			248
RSC merger related costs	—			90			—			—			—			—			90
Restructuring charge	—			52			—			1			—			—			53
Non-rental depreciation and amortization	7			45			5			6			—			—			63
Operating (loss) income	(26		)	69			50			50			(10		)	—			133
Interest expense (income), net	6			119			33			2			31			(2		)	189
Interest expense-subordinated convertible debentures	2			—			—			—			—			—			2
Other (income) expense, net	(38		)	30			9			7			(21		)	—			(13		)
Income (loss) before provision (benefit) for income taxes	4			(80		)	8			41			(20		)	2			(45		)
Provision (benefit) for income taxes	1			(25		)	17			9			(8		)	—			(6		)
Income (loss) before equity in net (loss) earnings of subsidiaries	3			(55		)	(9		)	32			(12		)	2			(39		)
Equity in net (loss) earnings of subsidiaries	(42		)	13			33			—			—			(4		)	—
Net (loss) income	(39		)	(42		)	24			32			(12		)	(2		)	(39		)
Other comprehensive (loss) income	(2		)	(2		)	(1		)	(1		)	—			4			(2		)
Comprehensive (loss) income	$	(41	)	$	(44	)	$	23		$	31		$	(12	)	$	2		$	(41	)


(1)	Includes interest expense prior to the April 30, 2012 RSC acquisition date on the merger financing debt issued by Funding SPV, as discussed further in note 8 to our condensed consolidated financial statements.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Six Months Ended June 30, 2011



	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
										Foreign		SPV
Revenues:
Equipment rentals	$	—		$	472		$	327		$	159	$	—		$	—		$	958
Sales of rental equipment	—			41			21			11		—			—			73
Sales of new equipment	—			17			9			10		—			—			36
Contractor supplies sales	—			18			13			12		—			—			43
Service and other revenues	—			22			11			9		—			—			42
Total revenues	—			570			381			201		—			—			1,152
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			234			168			77		—			—			479
Depreciation of rental equipment	—			108			66			28		—			—			202
Cost of rental equipment sales	—			26			14			6		—			—			46
Cost of new equipment sales	—			14			7			8		—			—			29
Cost of contractor supplies sales	—			13			9			8		—			—			30
Cost of service and other revenues	—			9			4			4		—			—			17
Total cost of revenues	—			404			268			131		—			—			803
Gross profit	—			166			113			70		—			—			349
Selling, general and administrative expenses	13			71			65			35		11			—			195
Restructuring charge	—			2			1			—		—			—			3
Non-rental depreciation and amortization	7			8			9			2		—			—			26
Operating (loss) income	(20		)	85			38			33		(11		)	—			125
Interest expense (income), net	6			104			3			1		2			(3		)	113
Interest expense-subordinated convertible debentures	4			—			—			—		—			—			4
Other (income) expense, net	(32		)	25			15			6		(18		)	—			(4		)
Income (loss) before provision (benefit) for income taxes	2			(44		)	20			26		5			3			12
Provision (benefit) for income taxes	—			2			(6		)	9		(1		)	—			4
Income (loss) from continuing operations	2			(46		)	26			17		6			3			8
Loss from discontinued operation, net of taxes	—			(1		)	—			—		—			—			(1		)
Income (loss) before equity in net earnings (loss) of subsidiaries	2			(47		)	26			17		6			3			7
Equity in net earnings (loss) of subsidiaries	5			52			20			—		—			(77		)	—
Net income (loss)	7			5			46			17		6			(74		)	7
Other comprehensive income (loss)	13			13			13			6		—			(32		)	13
Comprehensive income (loss)	$	20		$	18		$	59		$	23	$	6		$	(106	)	$	20

Condensed Consolidating Statement of Cash Flows

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

For the Six Months Ended June 30, 2012



	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations		Total
	Parent			URNA			Guarantor Subsidiaries			Foreign			SPV			Eliminations		Total
Net cash provided by (used in) operating activities	$	7		$	359		$	150		$	62		$	(236	)	$	—	$	342
Net cash used in investing activities	(7		)	(1,675		)	(152		)	(60		)	—			—		(1,894		)
Net cash provided by (used in) financing activities	—			1,324			2			(5		)	236			—		1,557
Effect of foreign exchange rates	—			—			—			—			—			—		—
Net increase (decrease) in cash and cash equivalents	—			8			—			(3		)	—			—		5
Cash and cash equivalents at beginning of period	—			6			—			30			—			—		36
Cash and cash equivalents at end of period	$	—		$	14		$	—		$	27		$	—		$	—	$	41

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

For the Six Months Ended June 30, 2011



	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations		Total
										Foreign			SPV
Net cash provided by (used in) operating activities	$	6		$	121		$	136		$	41		$	(8	)	$	—	$	296
Net cash used in investing activities	(6		)	(159		)	(138		)	(184		)	—			—		(487		)
Net cash provided by (used in) financing activities	—			37			2			(8		)	8			—		39
Effect of foreign exchange rates	—			—			—			7			—			—		7
Net decrease in cash and cash equivalents	—			(1		)	—			(144		)	—			—		(145		)
Cash and cash equivalents at beginning of period	—			4			—			199			—			—		203
Cash and cash equivalents at end of period	$	—		$	3		$	—		$	55		$	—		$	—	$	58