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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues:                      
Equipment rentals                 $ 4,941 $ 4,949 $ 4,819
Sales of rental equipment                 496 538 544
Sales of new equipment                 144 157 149
Contractor supplies sales                 79 79 85
Service and other revenues                 102 94 88
Total revenues $ 1,523 $ 1,508 $ 1,421 $ 1,310 $ 1,523 $ 1,550 $ 1,429 $ 1,315 5,762 5,817 5,685
Cost of revenues:                      
Cost of equipment rentals, excluding depreciation                 1,862 1,826 1,806
Depreciation of rental equipment                 990 976 921
Cost of rental equipment sales                 292 311 315
Cost of new equipment sales                 119 131 120
Cost of contractor supplies sales                 55 55 59
Cost of service and other revenues                 41 38 32
Total cost of revenues                 3,359 3,337 3,253
Gross profit 657 656 590 500 648 690 618 524 2,403 2,480 2,432
Selling, general and administrative expenses                 719 714 758
Merger related costs                 0 (26) 11
Restructuring charge                 14 6 (1)
Non-rental depreciation and amortization                 255 268 273
Operating income 402 412 347 254 397 446 375 300 1,415 1,518 1,391
Interest expense, net                 511 567 555
Other income, net                 (5) (12) (14)
Income before provision for income taxes                 909 963 850
Provision for income taxes                 343 378 310
Net income $ 153 $ 187 $ 134 $ 92 $ 169 $ 215 $ 86 $ 115 $ 566 $ 585 $ 540
Basic earnings per share (in dollars per share) $ 1.82 $ 2.18 $ 1.52 $ 1.01 $ 1.82 $ 2.28 $ 0.89 $ 1.19 $ 6.49 $ 6.14 $ 5.54
Diluted earnings per share (in dollars per share) $ 1.80 $ 2.16 $ 1.52 $ 1.01 $ 1.81 $ 2.25 $ 0.88 $ 1.16 $ 6.45 $ 6.07 $ 5.15