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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash Flows From Operating Activities:      
Net income $ 1,346 $ 566 $ 585
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,383 1,245 1,244
Amortization of deferred financing costs and original issue discounts 9 9 10
Gain on sales of rental equipment (220) (204) (227)
Gain on sales of non-rental equipment (4) (4) (8)
Stock compensation expense, net 87 45 49
Merger related costs 50 0 (26)
Restructuring charge 50 14 6
Loss on repurchase/redemption of debt securities and amendment of ABL facility 54 101 123
Excess tax benefits from share-based payment arrangements 0 (58) (5)
(Decrease) increase in deferred taxes (note 13) (533) 123 336
Changes in operating assets and liabilities:      
(Increase) decrease in accounts receivable (184) 15 (11)
Decrease in inventory 1 1 8
(Increase) decrease in prepaid expenses and other assets (20) 77 (38)
Increase (decrease) in accounts payable 141 (29) (8)
Increase (decrease) in accrued expenses and other liabilities 70 52 (43)
Net cash provided by operating activities 2,230 1,953 1,995
Cash Flows From Investing Activities:      
Purchases of rental equipment (1,769) (1,246) (1,534)
Purchases of non-rental equipment (120) (93) (102)
Proceeds from sales of rental equipment 550 496 538
Proceeds from sales of non-rental equipment 16 14 17
Purchases of other companies, net of cash acquired (2,377) (28) (86)
Purchases of investments (5) (2) (3)
Net cash used in investing activities (3,705) (859) (1,170)
Cash Flows From Financing Activities:      
Proceeds from debt 11,801 8,752 8,566
Payments of debt (10,207) (9,223) (8,482)
Payment of contingent consideration 0 0 (52)
Payments of financing costs (44) (24) (27)
Proceeds from the exercise of common stock options 3 1 1
Common stock repurchased (56) (528) (789)
Cash received in connection with the 4 percent Convertible Senior Notes and related hedge, net 0 0 3
Excess tax benefits from share-based payment arrangements 0 58 5
Net cash provided by (used in) financing activities 1,497 (964) (775)
Effect of foreign exchange rates 18 3 (29)
Net increase in cash and cash equivalents 40 133 21
Cash and cash equivalents at beginning of year 312 179 158
Cash and cash equivalents at end of year 352 312 179
Supplemental disclosure of cash flow information:      
Cash paid for interest 357 415 447
Cash paid for income taxes, net $ 205 $ 99 $ 60