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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash Flows From Operating Activities:      
Net income $ 566 $ 585 $ 540
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,245 1,244 1,194
Amortization of deferred financing costs and original issue discounts 9 10 17
Gain on sales of rental equipment (204) (227) (229)
Gain on sales of non-rental equipment (4) (8) (11)
Stock compensation expense, net 45 49 74
Merger related costs 0 (26) 11
Restructuring charge 14 6 (1)
Loss on repurchase/redemption of debt securities and amendment of ABL facility 101 123 80
Excess tax benefits from share-based payment arrangements (58) (5) 0
Increase in deferred taxes 123 336 261
Changes in operating assets and liabilities:      
Decrease (increase) in accounts receivable 15 (11) (101)
Decrease in inventory 1 8 11
Decrease (increase) in prepaid expenses and other assets 77 (38) (52)
Decrease in accounts payable (29) (8) (23)
Increase (decrease) in accrued expenses and other liabilities 52 (43) 30
Net cash provided by operating activities 1,953 1,995 1,801
Cash Flows From Investing Activities:      
Purchases of rental equipment (1,246) (1,534) (1,701)
Purchases of non-rental equipment (93) (102) (120)
Proceeds from sales of rental equipment 496 538 544
Proceeds from sales of non-rental equipment 14 17 33
Purchases of other companies, net of cash acquired (28) (86) (756)
Purchases of investments (2) (3) 0
Net cash used in investing activities (859) (1,170) (2,000)
Cash Flows From Financing Activities:      
Proceeds from debt 8,752 8,566 7,070
Payments of debt (9,223) (8,482) (6,283)
Payment of contingent consideration 0 (52) 0
Payments of financing costs (24) (27) (22)
Proceeds from the exercise of common stock options 1 1 2
Common stock repurchased (528) (789) (613)
Cash received in connection with the 4 percent Convertible Senior Notes and related hedge, net 0 3 42
Excess tax benefits from share-based payment arrangements 58 5 0
Net cash (used in) provided by financing activities (964) (775) 196
Effect of foreign exchange rates 3 (29) (14)
Net increase (decrease) in cash and cash equivalents 133 21 (17)
Cash and cash equivalents at beginning of year 179 158 175
Cash and cash equivalents at end of year 312 179 158
Supplemental disclosure of cash flow information:      
Cash paid for interest 415 447 457
Cash paid for income taxes, net $ 99 $ 60 $ 100