XML 16 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues:    
Equipment rentals $ 1,166 $ 1,117
Sales of rental equipment 106 115
Sales of new equipment 39 30
Contractor supplies sales 18 19
Service and other revenues 27 29
Total revenues 1,356 1,310
Cost of revenues:    
Cost of equipment rentals, excluding depreciation 474 449
Depreciation of rental equipment 248 243
Cost of rental equipment sales 60 68
Cost of new equipment sales 34 25
Cost of contractor supplies sales 13 13
Cost of service and other revenues 13 12
Total cost of revenues 842 810
Gross profit 514 500
Selling, general and administrative expenses 193 177
Merger related costs 2 0
Restructuring charge 0 2
Non-rental depreciation and amortization 62 67
Operating income 257 254
Interest expense, net 94 107
Other expense, net 2 0
Income before provision for income taxes 161 147
Provision for income taxes 52 55
Net income $ 109 $ 92
Basic earnings per share (in dollars per share) $ 1.29 $ 1.01
Diluted earnings per share (in dollars per share) $ 1.27 $ 1.01