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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Revenues:    
Equipment rentals $ 1,005 $ 916
Sales of rental equipment 110 123
Sales of new equipment 26 21
Contractor supplies sales 19 20
Service and other revenues 18 20
Total revenues 1,178 1,100
Cost of revenues:    
Cost of equipment rentals, excluding depreciation 409 393
Depreciation of rental equipment 217 202
Cost of rental equipment sales 65 83
Cost of new equipment sales 20 17
Cost of contractor supplies sales 13 13
Cost of service and other revenues 6 7
Total cost of revenues 730 715
Gross profit 448 385
Selling, general and administrative expenses 168 160
Merger related costs 1 6
Restructuring charge 1 [1] 6
Non-rental depreciation and amortization 60 64
Operating income 218 149
Interest expense, net 125 118
Interest expense—subordinated convertible debentures 0 2
Other income, net (1) (1)
Income before provision for income taxes 94 30
Provision for income taxes 34 9
Net income $ 60 $ 21
Basic earnings per share (in dollars per share) $ 0.63 $ 0.22
Diluted earnings per share (in dollars per share) $ 0.56 $ 0.19
[1] Reflected in our condensed consolidated statements of income as “Restructuring charge.” These charges are not allocated to our reportable segments.