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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Revenues:        
Equipment rentals $ 1,138 $ 1,051 $ 3,063 $ 2,419
Sales of rental equipment 102 101 356 258
Sales of new equipment 29 24 74 64
Contractor supplies sales 23 23 66 64
Service and other revenues 19 20 58 63
Total revenues 1,311 1,219 3,617 2,868
Cost of revenues:        
Cost of equipment rentals, excluding depreciation 422 395 1,214 991
Depreciation of rental equipment 219 204 629 491
Cost of rental equipment sales 62 72 232 175
Cost of new equipment sales 23 19 59 51
Cost of contractor supplies sales 15 17 44 45
Cost of service and other revenues 6 7 19 23
Total cost of revenues 747 714 2,197 1,776
Gross profit 564 505 1,420 1,092
Selling, general and administrative expenses 167 164 479 412
RSC merger related costs 0 8 8 98
Restructuring charge 1 40 12 [1] 93
Non-rental depreciation and amortization 59 71 185 134
Operating income 337 222 736 355
Interest expense, net 121 127 357 316
Interest expense—subordinated convertible debentures 0 1 3 3
Other income, net (2) 0 (3) (13)
Income before provision for income taxes 218 94 379 49
Provision for income taxes 75 21 132 15
Net income $ 143 $ 73 $ 247 $ 34
Basic earnings per share (in dollars per share) $ 1.53 $ 0.78 $ 2.65 $ 0.42
Diluted earnings per share (in dollars per share) $ 1.35 $ 0.70 $ 2.33 $ 0.37
[1] Reflected in our condensed consolidated statements of income as “Restructuring charge.” These charges are not allocated to our reportable segments.