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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Revenues:                      
Equipment rentals                 $ 4,819us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 4,196us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 3,455us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
Sales of rental equipment                 544uri_SalesRevenueGoodsNetSalesofRentalEquipment 490uri_SalesRevenueGoodsNetSalesofRentalEquipment 399uri_SalesRevenueGoodsNetSalesofRentalEquipment
Sales of new equipment                 149uri_SalesRevenueGoodsNetNewEquipmentSales 104uri_SalesRevenueGoodsNetNewEquipmentSales 93uri_SalesRevenueGoodsNetNewEquipmentSales
Contractor supplies sales                 85uri_SalesRevenueGoodsNetSalesofSupplies 87uri_SalesRevenueGoodsNetSalesofSupplies 87uri_SalesRevenueGoodsNetSalesofSupplies
Service and other revenues                 88us-gaap_MaintenanceRevenue 78us-gaap_MaintenanceRevenue 83us-gaap_MaintenanceRevenue
Total revenues 1,564us-gaap_SalesRevenueNet [1] 1,544us-gaap_SalesRevenueNet [1] 1,399us-gaap_SalesRevenueNet [1] 1,178us-gaap_SalesRevenueNet [1] 1,338us-gaap_SalesRevenueNet [2] 1,311us-gaap_SalesRevenueNet [2] 1,206us-gaap_SalesRevenueNet [2] 1,100us-gaap_SalesRevenueNet [2] 5,685us-gaap_SalesRevenueNet [1] 4,955us-gaap_SalesRevenueNet [2] 4,117us-gaap_SalesRevenueNet
Cost of revenues:                      
Cost of equipment rentals, excluding depreciation                 1,806uri_CostofServicesExcludingDepreciationDepletionAmortizationandMaintenanceCosts 1,634uri_CostofServicesExcludingDepreciationDepletionAmortizationandMaintenanceCosts 1,392uri_CostofServicesExcludingDepreciationDepletionAmortizationandMaintenanceCosts
Depreciation of rental equipment                 921us-gaap_CostOfServicesDepreciation 852us-gaap_CostOfServicesDepreciation 699us-gaap_CostOfServicesDepreciation
Cost of rental equipment sales                 315uri_CostofGoodsSoldRentalEquipmentSales 314uri_CostofGoodsSoldRentalEquipmentSales 274uri_CostofGoodsSoldRentalEquipmentSales
Cost of new equipment sales                 120uri_CostofGoodsSoldNewEquipmentSales 84uri_CostofGoodsSoldNewEquipmentSales 74uri_CostofGoodsSoldNewEquipmentSales
Cost of contractor supplies sales                 59uri_CostofGoodsSoldSuppliesSales 59uri_CostofGoodsSoldSuppliesSales 62uri_CostofGoodsSoldSuppliesSales
Cost of service and other revenues                 32us-gaap_CostOfServicesMaintenanceCosts 25us-gaap_CostOfServicesMaintenanceCosts 29us-gaap_CostOfServicesMaintenanceCosts
Total cost of revenues                 3,253us-gaap_CostOfRevenue 2,968us-gaap_CostOfRevenue 2,530us-gaap_CostOfRevenue
Gross profit 707us-gaap_GrossProfit [1] 688us-gaap_GrossProfit [1] 589us-gaap_GrossProfit [1] 448us-gaap_GrossProfit [1] 567us-gaap_GrossProfit [2] 564us-gaap_GrossProfit [2] 471us-gaap_GrossProfit [2] 385us-gaap_GrossProfit [2] 2,432us-gaap_GrossProfit [1] 1,987us-gaap_GrossProfit [2] 1,587us-gaap_GrossProfit
Selling, general and administrative expenses                 758us-gaap_SellingGeneralAndAdministrativeExpense 642us-gaap_SellingGeneralAndAdministrativeExpense 588us-gaap_SellingGeneralAndAdministrativeExpense
Merger related costs                 11us-gaap_BusinessCombinationAcquisitionRelatedCosts 9us-gaap_BusinessCombinationAcquisitionRelatedCosts 111us-gaap_BusinessCombinationAcquisitionRelatedCosts
Restructuring charge                 (1)us-gaap_RestructuringCharges 12us-gaap_RestructuringCharges 99us-gaap_RestructuringCharges
Non-rental depreciation and amortization                 273us-gaap_DepreciationAndAmortization 246us-gaap_DepreciationAndAmortization 198us-gaap_DepreciationAndAmortization
Operating income 426us-gaap_OperatingIncomeLoss [1] 422us-gaap_OperatingIncomeLoss [1] 325us-gaap_OperatingIncomeLoss [1] 218us-gaap_OperatingIncomeLoss [1] 342us-gaap_OperatingIncomeLoss [2] 337us-gaap_OperatingIncomeLoss [2] 250us-gaap_OperatingIncomeLoss [2] 149us-gaap_OperatingIncomeLoss [2] 1,391us-gaap_OperatingIncomeLoss [1] 1,078us-gaap_OperatingIncomeLoss [2] 591us-gaap_OperatingIncomeLoss
Interest expense, net                 555us-gaap_InterestIncomeExpenseNonoperatingNet 475us-gaap_InterestIncomeExpenseNonoperatingNet 512us-gaap_InterestIncomeExpenseNonoperatingNet
Interest expense—subordinated convertible debentures                 0us-gaap_InterestExpenseOther 3us-gaap_InterestExpenseOther 4us-gaap_InterestExpenseOther
Other income, net                 (14)us-gaap_OtherNonoperatingIncomeExpense (5)us-gaap_OtherNonoperatingIncomeExpense (13)us-gaap_OtherNonoperatingIncomeExpense
Income before provision for income taxes                 850us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 605us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 88us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Provision for income taxes                 310us-gaap_IncomeTaxExpenseBenefit 218us-gaap_IncomeTaxExpenseBenefit 13us-gaap_IncomeTaxExpenseBenefit
Net income $ 194us-gaap_NetIncomeLoss [1] $ 192us-gaap_NetIncomeLoss [1] $ 94us-gaap_NetIncomeLoss [1] $ 60us-gaap_NetIncomeLoss [1] $ 140us-gaap_NetIncomeLoss [2] $ 143us-gaap_NetIncomeLoss [2] $ 83us-gaap_NetIncomeLoss [2] $ 21us-gaap_NetIncomeLoss [2] $ 540us-gaap_NetIncomeLoss [1] $ 387us-gaap_NetIncomeLoss [2] $ 75us-gaap_NetIncomeLoss
Basic earnings per share (in dollars per share) $ 1.96us-gaap_EarningsPerShareBasic [1] $ 1.95us-gaap_EarningsPerShareBasic [1] $ 0.98us-gaap_EarningsPerShareBasic [1] $ 0.63us-gaap_EarningsPerShareBasic [1] $ 1.49us-gaap_EarningsPerShareBasic [2] $ 1.53us-gaap_EarningsPerShareBasic [2] $ 0.89us-gaap_EarningsPerShareBasic [2] $ 0.22us-gaap_EarningsPerShareBasic [2] $ 5.54us-gaap_EarningsPerShareBasic [1] $ 4.14us-gaap_EarningsPerShareBasic [2] $ 0.91us-gaap_EarningsPerShareBasic
Diluted earnings per share (in dollars per share) $ 1.88us-gaap_EarningsPerShareDiluted [1],[3] $ 1.84us-gaap_EarningsPerShareDiluted [1],[3] $ 0.90us-gaap_EarningsPerShareDiluted [1],[3] $ 0.56us-gaap_EarningsPerShareDiluted [1],[3] $ 1.31us-gaap_EarningsPerShareDiluted [2],[3] $ 1.35us-gaap_EarningsPerShareDiluted [2],[3] $ 0.78us-gaap_EarningsPerShareDiluted [2],[3] $ 0.19us-gaap_EarningsPerShareDiluted [2],[3] $ 5.15us-gaap_EarningsPerShareDiluted [1],[3] $ 3.64us-gaap_EarningsPerShareDiluted [2],[3] $ 0.79us-gaap_EarningsPerShareDiluted
[1] The fourth quarter of 2014 includes an increase in bad debt expense of $8 as compared to the fourth quarter of 2013 primarily due to improved receivable aging which reduced the expense in the fourth quarter of 2013. Additionally, the fourth quarter of 2014 includes an increase in stock compensation, net of $14 as compared to the fourth quarter of 2013 primarily due to improved profitability which resulted in increased performance based stock compensation.
[2] The fourth quarter of 2013 includes a reduction in bad debt expense of $17 as compared to the fourth quarter of 2012 primarily due to improved receivable aging. In the fourth quarter of 2013, we recognized a benefit of $3 in cost of equipment rentals, excluding depreciation related to our provision for self-insurance reserves.
[3] Diluted earnings per share includes the after-tax impacts of the following: First Quarter Second Quarter Third Quarter Fourth Quarter Full YearFor the year ended December 31, 2014: Merger related costs (4)$(0.01) $(0.05) $(0.02) $0.02 $(0.06)Merger related intangible asset amortization (5)(0.22) (0.29) (0.29) (0.30) (1.10)Impact on depreciation related to acquired RSC fleet and property and equipment (6)— 0.01 0.01 0.01 0.03Impact of the fair value mark-up of acquired RSC fleet (7)(0.05) (0.06) (0.05) (0.05) (0.21)Impact on interest expense related to fair value adjustment of acquired RSC indebtedness (8)0.01 0.01 — 0.01 0.03Restructuring charge (9)(0.01) 0.01 0.01 — 0.01Loss on extinguishment of debt securities(0.06) (0.38) (0.02) — (0.46)For the year ended December 31, 2013: Merger related costs (4)$(0.03) $(0.01) $— $— $(0.05)Merger related intangible asset amortization (5)(0.24) (0.24) (0.23) (0.24) (0.94)Impact on depreciation related to acquired RSC fleet and property and equipment (6)0.01 0.01 0.01 0.01 0.04Impact of the fair value mark-up of acquired RSC fleet (7)(0.08) (0.07) (0.05) (0.06) (0.25)Impact on interest expense related to fair value adjustment of acquired RSC indebtedness (8)0.01 0.01 0.01 0.01 0.04Restructuring charge (9)(0.04) (0.03) (0.01) — (0.07)Asset impairment charge (10)(0.01) (0.01) — — (0.02)Loss on extinguishment of debt securities, including subordinated convertible debentures(0.01) — (0.01) — (0.02)