XML 18 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues:                      
Equipment rentals                 $ 5,715 $ 4,941 $ 4,949
Service and other revenues                 118 102 94
Total revenues $ 1,922 $ 1,766 $ 1,597 $ 1,356 $ 1,523 $ 1,508 $ 1,421 $ 1,310 6,641 5,762 5,817
Cost of revenues:                      
Cost of equipment rentals, excluding depreciation                 2,151 1,862 1,826
Depreciation of rental equipment                 1,124 990 976
Cost of service and other revenues                 59 41 38
Total cost of revenues                 3,872 3,359 3,337
Gross profit 827 773 655 514 657 656 590 500 2,769 2,403 2,480
Selling, general and administrative expenses                 903 719 714
Merger related costs 18               50 0 (26)
Restructuring charge 22               50 14 6
Non-rental depreciation and amortization                 259 255 268
Operating income 462 448 340 257 402 412 347 254 1,507 1,415 1,518
Interest expense, net                 464 511 567
Other income, net                 (5) (5) (12)
Income before (benefit) provision for income taxes                 1,048 909 963
(Benefit) provision for income taxes (note 13)                 (298) 343 378
Net income $ 897 $ 199 $ 141 $ 109 $ 153 $ 187 $ 134 $ 92 $ 1,346 $ 566 $ 585
Basic earnings per share (in dollars per share) $ 10.60 $ 2.36 $ 1.67 $ 1.29 $ 1.82 $ 2.18 $ 1.52 $ 1.01 $ 15.91 $ 6.49 $ 6.14
Diluted earnings per share (in dollars per share) $ 10.45 $ 2.33 $ 1.65 $ 1.27 $ 1.80 $ 2.16 $ 1.52 $ 1.01 $ 15.73 $ 6.45 $ 6.07
Rental Equipment                      
Revenues:                      
Sales revenue                 $ 550 $ 496 $ 538
Cost of revenues:                      
Cost of goods sold                 330 292 311
New Equipment                      
Revenues:                      
Sales revenue                 178 144 157
Cost of revenues:                      
Cost of goods sold                 152 119 131
Contractor Supplies                      
Revenues:                      
Sales revenue                 80 79 79
Cost of revenues:                      
Cost of goods sold                 $ 56 $ 55 $ 55