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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenues:    
Equipment rentals $ 1,459 $ 1,166
Service and other revenues 34 27
Total revenues 1,734 1,356
Cost of revenues:    
Cost of equipment rentals, excluding depreciation 592 474
Depreciation of rental equipment 322 248
Cost of service and other revenues 18 13
Total cost of revenues 1,088 842
Gross profit 646 514
Selling, general and administrative expenses 232 193
Merger related costs 1 2
Restructuring charge 2 0
Non-rental depreciation and amortization 71 62
Operating (loss) income 340 257
Interest expense, net 109 94
Other (income) expense, net (1) 2
Income before provision for income taxes 232 161
Provision for income taxes 49 52
Net income $ 183 $ 109
Basic earnings per share (in dollars per share) $ 2.18 $ 1.29
Diluted earnings per share (in dollars per share) $ 2.15 $ 1.27
Rental equipment    
Revenues:    
Sales revenue $ 181 $ 106
Cost of revenues:    
Cost of goods sold 107 60
New equipment    
Revenues:    
Sales revenue 42 39
Cost of revenues:    
Cost of goods sold 37 34
Contractor supplies    
Revenues:    
Sales revenue 18 18
Cost of revenues:    
Cost of goods sold $ 12 $ 13