Condensed Consolidating Financial Information of Guarantor Subsidiaries

URNA is 100 percent owned by Holdings (“Parent”) and has outstanding (i) certain indebtedness that is guaranteed by Parent, (ii) certain indebtedness that is guaranteed by both Parent and, with the exception of its U.S. special purpose vehicle which holds receivable assets relating to the Company’s accounts receivable securitization (the “SPV”), all of URNA’s U.S. subsidiaries (the “guarantor subsidiaries”) and (iii) certain indebtedness that is guaranteed by the guarantor subsidiaries. However, this indebtedness is not guaranteed by URNA’s foreign subsidiaries and the SPV (together, the “non-guarantor subsidiaries”). The guarantor subsidiaries are all 100 percent-owned and the guarantees are made on a joint and several basis. The guarantees are not full and unconditional because a guarantor subsidiary can be automatically released and relieved of its obligations under certain circumstances, including sale of the subsidiary guarantor, the sale of all or substantially all of the subsidiary guarantor's assets, the requirements for legal defeasance or covenant defeasance under the applicable indenture being met or designating the subsidiary guarantor as an unrestricted subsidiary for purposes of the applicable covenants. The guarantees are also subject to subordination provisions (to the same extent that the obligations of the issuer under the relevant notes are subordinated to other debt of the issuer) and to a standard limitation which provides that the maximum amount guaranteed by each guarantor will not exceed the maximum amount that can be guaranteed without making the guarantee void under fraudulent conveyance laws. Based on our understanding of Rule 3-10 of Regulation S-X ("Rule 3-10"), we believe that the guarantees of the guarantor subsidiaries comply with the conditions set forth in Rule 3-10 and therefore continue to utilize Rule 3-10 to present condensed consolidating financial information for Holdings, URNA, the guarantor subsidiaries and the non-guarantor subsidiaries. Separate consolidated financial statements of the guarantor subsidiaries have not been presented because management believes that such information would not be material to investors. However, condensed consolidating financial information is presented. The condensed consolidating financial information of Parent and its subsidiaries is as follows:

CONDENSED CONSOLIDATING BALANCE SHEET

March 31, 2013



	Parent		URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
	Parent		URNA			Guarantor Subsidiaries			Foreign			SPV		Eliminations			Total
ASSETS
Cash and cash equivalents	$	—	$	24		$	—		$	123		$	—	$	—		$	147
Accounts receivable, net	—		34			—			127			564		—			725
Intercompany receivable (payable)	200		(152		)	(42		)	(156		)	—		150			—
Inventory	—		94			—			9			—		—			103
Prepaid expenses and other assets	—		58			—			23			—		—			81
Deferred taxes	—		253			—			2			—		—			255
Total current assets	200		311			(42		)	128			564		150			1,311
Rental equipment, net	—		4,376			—			587			—		—			4,963
Property and equipment, net	45		322			16			37			—		—			420
Investments in subsidiaries	1,528		1,055			934			—			—		(3,517		)	—
Goodwill, net	—		2,708			—			255			—		—			2,963
Other intangible assets, net	—		1,052			—			99			—		—			1,151
Other long-term assets	2		111			—			—			—		—			113
Total assets	$	1,775	$	9,935		$	908		$	1,106		$	564	$	(3,367	)	$	10,921
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	$	139	$	38		$	—		$	—		$	390	$	—		$	567
Accounts payable	—		358			—			48			—		—			406
Accrued expenses and other liabilities	3		332			30			31			—		—			396
Total current liabilities	142		728			30			79			390		—			1,369
Long-term debt	—		6,426			147			7			—		—			6,580
Subordinated convertible debentures	17		—			—			—			—		—			17
Deferred taxes	21		1,189			—			83			—		—			1,293
Other long-term liabilities	—		64			—			3			—		—			67
Total liabilities	180		8,407			177			172			390		—			9,326
Temporary equity (note 6)	29		—			—			—			—		—			29
Total stockholders’ equity (deficit)	1,566		1,528			731			934			174		(3,367		)	1,566
Total liabilities and stockholders’ equity (deficit)	$	1,775	$	9,935		$	908		$	1,106		$	564	$	(3,367	)	$	10,921

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2012



	Parent		URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
	Parent		URNA			Guarantor Subsidiaries			Foreign			SPV		Eliminations			Total
ASSETS
Cash and cash equivalents	$	—	$	20		$	—		$	86		$	—	$	—		$	106
Accounts receivable, net	—		43			—			146			604		—			793
Intercompany receivable (payable)	168		(108		)	(49		)	(163		)	—		152			—
Inventory	—		60			—			8			—		—			68
Prepaid expenses and other assets	—		87			10			14			—		—			111
Deferred taxes	—		263			—			2			—		—			265
Total current assets	168		365			(39		)	93			604		152			1,343
Rental equipment, net	—		4,357			—			609			—		—			4,966
Property and equipment, net	41		333			16			38			—		—			428
Investments in subsidiaries	1,575		1,029			932			—			—		(3,536		)	—
Goodwill, net	—		2,710			—			260			—		—			2,970
Other intangible assets, net	—		1,094			—			106			—		—			1,200
Other long-term assets	4		115			—			—			—		—			119
Total assets	$	1,788	$	10,003		$	909		$	1,106		$	604	$	(3,384	)	$	11,026
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	$	137	$	40		$	—		$	—		$	453	$	—		$	630
Accounts payable	—		243			—			43			—		—			286
Accrued expenses and other liabilities	1		361			33			40			—		—			435
Total current liabilities	138		644			33			83			453		—			1,351
Long-term debt	—		6,522			150			7			—		—			6,679
Subordinated convertible debentures	55		—			—			—			—		—			55
Deferred taxes	21		1,199			—			82			—		—			1,302
Other long-term liabilities	—		63			—			2			—		—			65
Total liabilities	214		8,428			183			174			453		—			9,452
Temporary equity (note 6)	31		—			—			—			—		—			31
Total stockholders’ equity (deficit)	1,543		1,575			726			932			151		(3,384		)	1,543
Total liabilities and stockholders’ equity (deficit)	$	1,788	$	10,003		$	909		$	1,106		$	604	$	(3,384	)	$	11,026

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended March 31, 2013



	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations			Total
										Foreign			SPV
Revenues:
Equipment rentals	$	—		$	781		$	—		$	135		$	—		$	—		$	916
Sales of rental equipment	—			112			—			11			—			—			123
Sales of new equipment	—			16			—			5			—			—			21
Contractor supplies sales	—			16			—			4			—			—			20
Service and other revenues	—			15			—			5			—			—			20
Total revenues	—			940			—			160			—			—			1,100
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			333			—			60			—			—			393
Depreciation of rental equipment	—			178			—			24			—			—			202
Cost of rental equipment sales	—			76			—			7			—			—			83
Cost of new equipment sales	—			13			—			4			—			—			17
Cost of contractor supplies sales	—			10			—			3			—			—			13
Cost of service and other revenues	—			6			—			1			—			—			7
Total cost of revenues	—			616			—			99			—			—			715
Gross profit	—			324			—			61			—			—			385
Selling, general and administrative expenses	19			118			—			22			1			—			160
RSC merger related costs	—			6			—			—			—			—			6
Restructuring charge	—			6			—			—			—			—			6
Non-rental depreciation and amortization	4			55			—			5			—			—			64
Operating (loss) income	(23		)	139			—			34			(1		)	—			149
Interest expense (income), net	2			114			1			1			1			(1		)	118
Interest expense-subordinated convertible debentures	2			—			—			—			—			—			2
Other (income) expense, net	(30		)	45			—			3			(19		)	—			(1		)
Income (loss) before provision (benefit) for income taxes	3			(20		)	(1		)	30			17			1			30
Provision (benefit) for income taxes	1			(8		)	—			9			7			—			9
Income (loss) before equity in net earnings (loss) of subsidiaries	2			(12		)	(1		)	21			10			1			21
Equity in net earnings (loss) of subsidiaries	19			31			21			—			—			(71		)	—
Net income (loss)	21			19			20			21			10			(70		)	21
Other comprehensive (loss) income	(20		)	(20		)	(20		)	(15		)	—			55			(20		)
Comprehensive income (loss)	$	1		$	(1	)	$	—		$	6		$	10		$	(15	)	$	1

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
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
Other comprehensive income (loss)	10			10			9			5		—			(24		)	10
Comprehensive (loss) income	$	23		$	23		$	18		$	18	$	(4	)	$	(55	)	$	23

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

For the Three Months Ended March 31, 2013



	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	$	16		$	294		$	(1	)	$	50		$	50		$	—	$	409
Net cash used in investing activities	(16		)	(148		)	—			(11		)	—			—		(175		)
Net cash (used in) provided by financing activities	—			(142		)	1			—			(50		)	—		(191		)
Effect of foreign exchange rates	—			—			—			(2		)	—			—		(2		)
Net increase in cash and cash equivalents	—			4			—			37			—			—		41
Cash and cash equivalents at beginning of period	—			20			—			86			—			—		106
Cash and cash equivalents at end of period	$	—		$	24		$	—		$	123		$	—		$	—	$	147

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