Condensed Consolidating Financial Information of Guarantor Subsidiaries (Tables)

3 Months Ended

Mar. 31, 2015

Condensed Financial Information [Abstract]

CONDENSED CONSOLIDATING BALANCE SHEET

CONDENSED CONSOLIDATING BALANCE SHEET

March 31, 2015

	Parent		URNA		Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
								Foreign			SPV
ASSETS
Cash and cash equivalents	$	—	$	58	$	—		$	199		$	—	$	—		$	257
Accounts receivable, net	—		37		—			113			698		—			848
Intercompany receivable (payable)	172		24		(185		)	(123		)	—		112			—
Inventory	—		73		—			8			—		—			81
Prepaid expenses and other assets	—		43		—			8			—		—			51
Deferred taxes	—		214		—			1			—		—			215
Total current assets	172		449		(185		)	206			698		112			1,452
Rental equipment, net	—		5,423		—			565			—		—			5,988
Property and equipment, net	42		324		21			41			—		—			428
Investments in subsidiaries	1,307		1,479		968			—			—		(3,754		)	—
Goodwill	—		3,001		—			248			—		—			3,249
Other intangible assets, net	—		967		—			80			—		—			1,047
Other long-term assets	—		118		—			—			—		—			118
Total assets	$	1,521	$	11,761	$	804		$	1,140		$	698	$	(3,642	)	$	12,282
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	$	7	$	586	$	—		$	—		$	—	$	—		$	593
Accounts payable	—		405		—			60			—		—			465
Accrued expenses and other liabilities	—		448		15			34			—		—			497
Total current liabilities	7		1,439		15			94			—		—			1,555
Long-term debt	—		7,356		120			6			—		—			7,482
Deferred taxes	19		1,599		—			72			—		—			1,690
Other long-term liabilities	—		60		—			—			—		—			60
Total liabilities	26		10,454		135			172			—		—			10,787
Temporary equity (note 7)	1		—		—			—			—		—			1
Total stockholders’ equity (deficit)	1,494		1,307		669			968			698		(3,642		)	1,494
Total liabilities and stockholders’ equity (deficit)	$	1,521	$	11,761	$	804		$	1,140		$	698	$	(3,642	)	$	12,282

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2014

	Parent		URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
									Foreign			SPV
ASSETS
Cash and cash equivalents	$	—	$	8		$	—		$	150		$	—	$	—		$	158
Accounts receivable, net	—		37			—			144			759		—			940
Intercompany receivable (payable)	476		(428		)	(60		)	(109		)	—		121			—
Inventory	—		69			—			9			—		—			78
Prepaid expenses and other assets	—		113			1			8			—		—			122
Deferred taxes	—		246			—			2			—		—			248
Total current assets	476		45			(59		)	204			759		121			1,546
Rental equipment, net	—		5,399			—			609			—		—			6,008
Property and equipment, net	42		332			21			43			—		—			438
Investments in subsidiaries	1,330		1,185			1,040			—			—		(3,555		)	—
Goodwill	—		3,000			—			272			—		—			3,272
Other intangible assets, net	—		1,014			—			92			—		—			1,106
Other long-term assets	1		96			—			—			—		—			97
Total assets	$	1,849	$	11,071		$	1,002		$	1,220		$	759	$	(3,434	)	$	12,467
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	$	32	$	38		$	—		$	—		$	548	$	—		$	618
Accounts payable	—		248			—			37			—		—			285
Accrued expenses and other liabilities	—		499			19			57			—		—			575
Total current liabilities	32		785			19			94			548		—			1,478
Long-term debt	—		7,298			130			6			—		—			7,434
Deferred taxes	19		1,594			—			79			—		—			1,692
Other long-term liabilities	—		64			—			1			—		—			65
Total liabilities	51		9,741			149			180			548		—			10,669
Temporary equity (note 7)	2		—			—			—			—		—			2
Total stockholders’ equity (deficit)	1,796		1,330			853			1,040			211		(3,434		)	1,796
Total liabilities and stockholders’ equity (deficit)	$	1,849	$	11,071		$	1,002		$	1,220		$	759	$	(3,434	)	$	12,467

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended March 31, 2015

	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations			Total
										Foreign			SPV
Revenues:
Equipment rentals	$	—		$	998		$	—		$	127		$	—		$	—		$	1,125
Sales of rental equipment	—			106			—			10			—			—			116
Sales of new equipment	—			29			—			4			—			—			33
Contractor supplies sales	—			16			—			2			—			—			18
Service and other revenues	—			19			—			4			—			—			23
Total revenues	—			1,168			—			147			—			—			1,315
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			384			—			60			—			—			444
Depreciation of rental equipment	—			211			—			24			—			—			235
Cost of rental equipment sales	—			59			—			5			—			—			64
Cost of new equipment sales	—			24			—			3			—			—			27
Cost of contractor supplies sales	—			11			—			1			—			—			12
Cost of service and other revenues	—			6			—			3			—			—			9
Total cost of revenues	—			695			—			96			—			—			791
Gross profit	—			473			—			51			—			—			524
Selling, general and administrative expenses	3			151			—			20			7			—			181
Merger related costs	—			(27		)	—			—			—			—			(27		)
Restructuring charge	—			1			—			—			—			—			1
Non-rental depreciation and amortization	4			59			—			6			—			—			69
Operating (loss) income	(7		)	289			—			25			(7		)	—			300
Interest (income) expense, net	(1		)	119			2			1			1			(1		)	121
Other (income) expense, net	(35		)	52			1			1			(22		)	—			(3		)
Income (loss) before provision (benefit) for income taxes	29			118			(3		)	23			14			1			182
Provision (benefit) for income taxes	13			43			(2		)	7			6			—			67
Income (loss) before equity in net earnings (loss) of subsidiaries	16			75			(1		)	16			8			1			115
Equity in net earnings (loss) of subsidiaries	99			24			16			—			—			(139		)	—
Net income (loss)	115			99			15			16			8			(138		)	115
Other comprehensive (loss) income	(89		)	(89		)	(90		)	(71		)	—			250			(89		)
Comprehensive income (loss)	$	26		$	10		$	(75	)	$	(55	)	$	8		$	112		$	26

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended March 31, 2014

	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations			Total
										Foreign			SPV
Revenues:
Equipment rentals	$	—		$	872		$	—		$	133		$	—		$	—		$	1,005
Sales of rental equipment	—			100			—			10			—			—			110
Sales of new equipment	—			21			—			5			—			—			26
Contractor supplies sales	—			15			—			4			—			—			19
Service and other revenues	—			15			—			3			—			—			18
Total revenues	—			1,023			—			155			—			—			1,178
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			354			—			55			—			—			409
Depreciation of rental equipment	—			193			—			24			—			—			217
Cost of rental equipment sales	—			60			—			5			—			—			65
Cost of new equipment sales	—			16			—			4			—			—			20
Cost of contractor supplies sales	—			10			—			3			—			—			13
Cost of service and other revenues	—			5			—			1			—			—			6
Total cost of revenues	—			638			—			92			—			—			730
Gross profit	—			385			—			63			—			—			448
Selling, general and administrative expenses	25			123			—			20			—			—			168
Merger related costs	—			1			—			—			—			—			1
Restructuring charge	—			1			—			—			—			—			1
Non-rental depreciation and amortization	4			51			—			5			—			—			60
Operating (loss) income	(29		)	209			—			38			—			—			218
Interest expense (income), net	6			118			1			1			1			(2		)	125
Other (income) expense, net	(32		)	46			2			3			(20		)	—			(1		)
(Loss) income before provision for income taxes	(3		)	45			(3		)	34			19			2			94
Provision for income taxes	—			18			—			9			7			—			34
(Loss) income before equity in net earnings (loss) of subsidiaries	(3		)	27			(3		)	25			12			2			60
Equity in net earnings (loss) of subsidiaries	63			36			25			—			—			(124		)	—
Net income (loss)	60			63			22			25			12			(122		)	60
Other comprehensive (loss) income	(39		)	(39		)	(38		)	(30		)	—			107			(39		)
Comprehensive income (loss)	$	21		$	24		$	(16	)	$	(5	)	$	12		$	(15	)	$	21

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

For the Three Months EndedMarch 31, 2015

	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations		Total
										Foreign			SPV
Net cash provided by operating activities	$	3		$	507		$	1		$	95		$	69		$	—	$	675
Net cash used in investing activities	(3		)	(193		)	—			(29		)	—			—		(225		)
Net cash used in financing activities	—			(264		)	(1		)	(1		)	(69		)	—		(335		)
Effect of foreign exchange rates	—			—			—			(16		)	—			—		(16		)
Net increase in cash and cash equivalents	—			50			—			49			—			—		99
Cash and cash equivalents at beginning of period	—			8			—			150			—			—		158
Cash and cash equivalents at end of period	$	—		$	58		$	—		$	199		$	—		$	—	$	257

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

For the Three Months EndedMarch 31, 2014

	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations		Total
										Foreign			SPV
Net cash provided by operating activities	$	3		$	390		$	1		$	62		$	52		$	—	$	508
Net cash used in investing activities	(3		)	(219		)	—			(9		)	—			—		(231		)
Net cash used in financing activities	—			(165		)	(1		)	—			(52		)	—		(218		)
Effect of foreign exchange rates	—			—			—			(7		)	—			—		(7		)
Net increase in cash and cash equivalents	—			6			—			46			—			—		52
Cash and cash equivalents at beginning of period	—			17			—			158			—			—		175
Cash and cash equivalents at end of period	$	—		$	23		$	—		$	204		$	—		$	—	$	227