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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
In Millions, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash Flows From Operating Activities:    
Net income $ 346 $ 247
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 882 814
Amortization of deferred financing costs and original issue discounts 14 16
Gain on sales of rental equipment (161) (124)
Gain on sales of non-rental equipment (7) (3)
(Gain) loss on sale of software subsidiary 0 1
Stock compensation expense, net 48 34
Merger related costs 13 8
Restructuring charge (2) [1] 12
Loss on extinguishment of debt securities 80 1
Loss on retirement of subordinated convertible debentures 0 2
Increase in deferred taxes 134 97
Changes in operating assets and liabilities, net of amounts acquired:    
Increase in accounts receivable (99) (17)
Increase in inventory (23) (22)
Decrease (increase) in prepaid expenses and other assets 10 (7)
Increase in accounts payable 197 82
Increase (decrease) in accrued expenses and other liabilities 34 (26)
Net cash provided by operating activities 1,466 1,115
Cash Flows From Investing Activities:    
Purchases of rental equipment (1,484) (1,499)
Purchases of non-rental equipment (84) (71)
Proceeds from sales of rental equipment 388 356
Proceeds from sales of non-rental equipment 26 15
Purchases of other companies, net of cash acquired (752) (9)
Net cash used in investing activities (1,906) (1,208)
Cash Flows From Financing Activities:    
Proceeds from debt 5,911 2,931
Payments of debt, including subordinated convertible debentures (5,082) (2,681)
Proceeds from the exercise of common stock options 2 5
Common stock repurchased (399) (99)
Payments of financing costs (22) 0
Cash received (paid) in connection with the 4 percent Convertible Senior Notes and related hedge, net 31 (40)
Net cash provided by financing activities 441 116
Effect of foreign exchange rates (8) (4)
Net (decrease) increase in cash and cash equivalents (7) 19
Cash and cash equivalents at beginning of period 175 106
Cash and cash equivalents at end of period 168 125
Supplemental disclosure of cash flow information:    
Cash paid for income taxes, net 60 44
Cash paid for interest, including subordinated convertible debentures $ 315 $ 322
[1] Reflected in our condensed consolidated statements of income as “Restructuring charge.” The income for the nine months ended September 30, 2014 primarily reflects buyouts or settlements of real estate leases for less than the recognized reserves. These charges are not allocated to our reportable segments.