Condensed Consolidating Financial Information of Guarantor Subsidiaries (Tables)

6 Months Ended

Jun. 30, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

The condensed consolidating financial information of Parent and its subsidiaries is as follows:

CONDENSED CONSOLIDATING BALANCE SHEET

June 30, 2017



	Parent		URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
	Parent		URNA			Guarantor Subsidiaries			Foreign			SPV		Eliminations			Total
ASSETS
Cash and cash equivalents	$	—	$	9		$	—		$	329		$	—	$	—		$	338
Accounts receivable, net	—		35			—			98			857		—			990
Intercompany receivable (payable)	571		(353		)	(201		)	(128		)	—		111			—
Inventory	—		70			—			8			—		—			78
Prepaid expenses and other assets	6		67			—			4			—		—			77
Total current assets	577		(172		)	(201		)	311			857		111			1,483
Rental equipment, net	—		6,555			—			521			—		—			7,076
Property and equipment, net	38		340			31			40			—		—			449
Investments in subsidiaries	1,354		1,071			1,014			—			—		(3,439		)	—
Goodwill	—		3,213			—			255			—		—			3,468
Other intangible assets, net	—		746			—			52			—		—			798
Other long-term assets	3		7			—			—			—		—			10
Total assets	$	1,972	$	11,760		$	844		$	1,179		$	857	$	(3,328	)	$	13,284
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	$	1	$	26		$	—		$	2		$	615	$	—		$	644
Accounts payable	—		630			—			62			—		—			692
Accrued expenses and other liabilities	—		371			11			25			1		—			408
Total current liabilities	1		1,027			11			89			616		—			1,744
Long-term debt	2		7,452			114			3			—		—			7,571
Deferred taxes	21		1,858			—			73			—		—			1,952
Other long-term liabilities	—		69			—			—			—		—			69
Total liabilities	24		10,406			125			165			616		—			11,336
Total stockholders’ equity (deficit)	1,948		1,354			719			1,014			241		(3,328		)	1,948
Total liabilities and stockholders’ equity (deficit)	$	1,972	$	11,760		$	844		$	1,179		$	857	$	(3,328	)	$	13,284

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2016



	Parent		URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
	Parent		URNA			Guarantor Subsidiaries			Foreign			SPV		Eliminations			Total
ASSETS
Cash and cash equivalents	$	—	$	21		$	—		$	291		$	—	$	—		$	312
Accounts receivable, net	—		38			—			96			786		—			920
Intercompany receivable (payable)	336		(137		)	(188		)	(115		)	—		104			—
Inventory	—		61			—			7			—		—			68
Prepaid expenses and other assets	5		51			—			5			—		—			61
Total current assets	341		34			(188		)	284			786		104			1,361
Rental equipment, net	—		5,709			—			480			—		—			6,189
Property and equipment, net	38		326			26			40			—		—			430
Investments in subsidiaries	1,292		1,013			978			—			—		(3,283		)	—
Goodwill	—		3,013			—			247			—		—			3,260
Other intangible assets, net	—		686			—			56			—		—			742
Other long-term assets	—		6			—			—			—		—			6
Total assets	$	1,671	$	10,787		$	816		$	1,107		$	786	$	(3,179	)	$	11,988
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	$	1	$	25		$	—		$	3		$	568	$	—		$	597
Accounts payable	—		217			—			26			—		—			243
Accrued expenses and other liabilities	—		305			13			25			1		—			344
Total current liabilities	1		547			13			54			569		—			1,184
Long-term debt	2		7,076			111			4			—		—			7,193
Deferred taxes	20		1,805			—			71			—		—			1,896
Other long-term liabilities	—		67			—			—			—		—			67
Total liabilities	23		9,495			124			129			569		—			10,340
Total stockholders’ equity (deficit)	1,648		1,292			692			978			217		(3,179		)	1,648
Total liabilities and stockholders’ equity (deficit)	$	1,671	$	10,787		$	816		$	1,107		$	786	$	(3,179	)	$	11,988

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended June 30, 2017





	Parent			URNA		Guarantor Subsidiaries		Non-Guarantor Subsidiaries						Eliminations			Total
								Foreign			SPV
Revenues:
Equipment rentals	$	—		$	1,262	$	—	$	105		$	—		$	—		$	1,367
Sales of rental equipment	—			121		—		12			—			—			133
Sales of new equipment	—			42		—		5			—			—			47
Contractor supplies sales	—			19		—		2			—			—			21
Service and other revenues	—			24		—		5			—			—			29
Total revenues	—			1,468		—		129			—			—			1,597
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			472		—		53			—			—			525
Depreciation of rental equipment	—			245		—		21			—			—			266
Cost of rental equipment sales	—			75		—		6			—			—			81
Cost of new equipment sales	—			35		—		5			—			—			40
Cost of contractor supplies sales	—			13		—		2			—			—			15
Cost of service and other revenues	—			14		—		1			—			—			15
Total cost of revenues	—			854		—		88			—			—			942
Gross profit	—			614		—		41			—			—			655
Selling, general and administrative expenses	19			171		—		21			7			—			218
Merger related costs	—			14		—		—			—			—			14
Restructuring charge	—			19		—		—			—			—			19
Non-rental depreciation and amortization	4			56		—		4			—			—			64
Operating (loss) income	(23		)	354		—		16			(7		)	—			340
Interest (income) expense, net	(3		)	115		—		(1		)	3			(1		)	113
Other (income) expense, net	(131		)	141		—		11			(23		)	—			(2		)
Income before provision for income taxes	111			98		—		6			13			1			229
Provision for income taxes	42			39		—		2			5			—			88
Income before equity in net earnings (loss) of subsidiaries	69			59		—		4			8			1			141
Equity in net earnings (loss) of subsidiaries	72			13		4		—			—			(89		)	—
Net income (loss)	141			72		4		4			8			(88		)	141
Other comprehensive income (loss)	25			25		26		21			—			(72		)	25
Comprehensive income (loss)	$	166		$	97	$	30	$	25		$	8		$	(160	)	$	166

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended June 30, 2016




	Parent			URNA		Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations			Total
									Foreign			SPV
Revenues:
Equipment rentals	$	—		$	1,103	$	—		$	101		$	—		$	—		$	1,204
Sales of rental equipment	—			117		—			17			—			—			134
Sales of new equipment	—			31		—			5			—			—			36
Contractor supplies sales	—			18		—			4			—			—			22
Service and other revenues	—			22		—			3			—			—			25
Total revenues	—			1,291		—			130			—			—			1,421
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			407		—			49			—			—			456
Depreciation of rental equipment	—			219		—			23			—			—			242
Cost of rental equipment sales	—			70		—			9			—			—			79
Cost of new equipment sales	—			25		—			4			—			—			29
Cost of contractor supplies sales	—			12		—			3			—			—			15
Cost of service and other revenues	—			10		—			—			—			—			10
Total cost of revenues	—			743		—			88			—			—			831
Gross profit	—			548		—			42			—			—			590
Selling, general and administrative expenses	2			155		—			18			2			—			177
Restructuring charge	—			1		—			1			—			—			2
Non-rental depreciation and amortization	4			54		—			6			—			—			64
Operating (loss) income	(6		)	338		—			17			(2		)	—			347
Interest (income) expense, net	(1		)	133		—			—			1			(1		)	132
Other (income) expense, net	(116		)	124		—			11			(21		)	—			(2		)
Income before provision for income taxes	111			81		—			6			18			1			217
Provision for income taxes	42			32		—			2			7			—			83
Income before equity in net earnings (loss) of subsidiaries	69			49		—			4			11			1			134
Equity in net earnings (loss) of subsidiaries	65			16		4			—			—			(85		)	—
Net income (loss)	134			65		4			4			11			(84		)	134
Other comprehensive (loss) income	—			—		(2		)	(2		)	—			4			—
Comprehensive income (loss)	$	134		$	65	$	2		$	2		$	11		$	(80	)	$	134

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Six Months Ended June 30, 2017




	Parent			URNA		Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
									Foreign		SPV
Revenues:
Equipment rentals	$	—		$	2,332	$	—		$	201	$	—		$	—		$	2,533
Sales of rental equipment	—			216		—			23		—			—			239
Sales of new equipment	—			77		—			9		—			—			86
Contractor supplies sales	—			35		—			4		—			—			39
Service and other revenues	—			48		—			8		—			—			56
Total revenues	—			2,708		—			245		—			—			2,953
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			895		—			104		—			—			999
Depreciation of rental equipment	—			472		—			42		—			—			514
Cost of rental equipment sales	—			129		—			12		—			—			141
Cost of new equipment sales	—			66		—			8		—			—			74
Cost of contractor supplies sales	—			25		—			3		—			—			28
Cost of service and other revenues	—			25		—			3		—			—			28
Total cost of revenues	—			1,612		—			172		—			—			1,784
Gross profit	—			1,096		—			73		—			—			1,169
Selling, general and administrative expenses	42			316		—			38		15			—			411
Merger related costs	—			16		—			—		—			—			16
Restructuring charge	—			19		—			—		—			—			19
Non-rental depreciation and amortization	8			108		—			10		—			—			126
Operating (loss) income	(50		)	637		—			25		(15		)	—			597
Interest (income) expense, net	(5		)	208		1			—		5			(2		)	207
Other (income) expense, net	(243		)	265		—			23		(45		)	—			—
Income (loss) before provision for income taxes	198			164		(1		)	2		25			2			390
Provision for income taxes	63			67		—			—		10			—			140
Income (loss) before equity in net earnings (loss) of subsidiaries	135			97		(1		)	2		15			2			250
Equity in net earnings (loss) of subsidiaries	115			18		2			—		—			(135		)	—
Net income (loss)	250			115		1			2		15			(133		)	250
Other comprehensive income (loss)	33			33		34			28		—			(95		)	33
Comprehensive income (loss)	$	283		$	148	$	35		$	30	$	15		$	(228	)	$	283

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Six Months Ended June 30, 2016




	Parent			URNA		Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
									Foreign		SPV
Revenues:
Equipment rentals	$	—		$	2,127	$	—		$	194	$	—		$	—		$	2,321
Sales of rental equipment	—			221		—			28		—			—			249
Sales of new equipment	—			58		—			8		—			—			66
Contractor supplies sales	—			35		—			6		—			—			41
Service and other revenues	—			47		—			7		—			—			54
Total revenues	—			2,488		—			243		—			—			2,731
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			811		—			94		—			—			905
Depreciation of rental equipment	—			440		—			45		—			—			485
Cost of rental equipment sales	—			132		—			15		—			—			147
Cost of new equipment sales	—			48		—			6		—			—			54
Cost of contractor supplies sales	—			24		—			4		—			—			28
Cost of service and other revenues	—			19		—			3		—			—			22
Total cost of revenues	—			1,474		—			167		—			—			1,641
Gross profit	—			1,014		—			76		—			—			1,090
Selling, general and administrative expenses	8			299		—			37		10			—			354
Restructuring charge	—			3		—			1		—			—			4
Non-rental depreciation and amortization	8			111		—			12		—			—			131
Operating (loss) income	(16		)	601		—			26		(10		)	—			601
Interest (income) expense, net	(3		)	239		1			1		3			(2		)	239
Other (income) expense, net	(222		)	246		—			20		(46		)	—			(2		)
Income (loss) before provision for income taxes	209			116		(1		)	5		33			2			364
Provision for income taxes	79			45		—			1		13			—			138
Income (loss) before equity in net earnings (loss) of subsidiaries	130			71		(1		)	4		20			2			226
Equity in net earnings (loss) of subsidiaries	96			25		4			—		—			(125		)	—
Net income (loss)	226			96		3			4		20			(123		)	226
Other comprehensive income (loss)	63			63		60			48		—			(171		)	63
Comprehensive income (loss)	$	289		$	159	$	63		$	52	$	20		$	(294	)	$	289

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

For the Six Months Ended June 30, 2017



	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations		Total
	Parent			URNA			Guarantor Subsidiaries			Foreign			SPV			Eliminations		Total
Net cash provided by (used in) operating activities	$	10		$	1,305		$	(1	)	$	78		$	(55	)	$	—	$	1,337
Net cash used in investing activities	(10		)	(1,632		)	—			(50		)	—			—		(1,692		)
Net cash provided by (used in) financing activities	—			315			1			(1		)	55			—		370
Effect of foreign exchange rates	—			—			—			11			—			—		11
Net (decrease) increase in cash and cash equivalents	—			(12		)	—			38			—			—		26
Cash and cash equivalents at beginning of period	—			21			—			291			—			—		312
Cash and cash equivalents at end of period	$	—		$	9		$	—		$	329		$	—		$	—	$	338

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

For the Six Months Ended June 30, 2016



	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations		Total
	Parent			URNA			Guarantor Subsidiaries			Foreign			SPV			Eliminations		Total
Net cash provided by (used in) operating activities	$	2		$	1,096		$	(1	)	$	84		$	66		$	—	$	1,247
Net cash (used in) provided by investing activities	(2		)	(522		)	—			2			—			—		(522		)
Net cash (used in) provided by financing activities	—			(584		)	1			(2		)	(66		)	—		(651		)
Effect of foreign exchange rates	—			—			—			12			—			—		12
Net (decrease) increase in cash and cash equivalents	—			(10		)	—			96			—			—		86
Cash and cash equivalents at beginning of period	—			18			—			161			—			—		179
Cash and cash equivalents at end of period	$	—		$	8		$	—		$	257		$	—		$	—	$	265