Condensed Consolidating Financial Information of Guarantor Subsidiaries (Tables)

9 Months Ended

Sep. 30, 2018

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

September 30, 2018



	Parent		URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
	Parent		URNA			Guarantor Subsidiaries			Foreign			Domestic		Eliminations			Total
ASSETS
Cash and cash equivalents	$	—	$	17		$	—		$	48		$	—	$	—		$	65
Accounts receivable, net	—		—			—			141			1,297		—			1,438
Intercompany receivable (payable)	1,325		(1,200		)	(96		)	(29		)	—		—			—
Inventory	—		94			—			10			—		—			104
Prepaid expenses and other assets	—		81			—			4			—		—			85
Total current assets	1,325		(1,008		)	(96		)	174			1,297		—			1,692
Rental equipment, net	—		8,243			—			667			—		—			8,910
Property and equipment, net	51		394			40			44			—		—			529
Investments in subsidiaries	1,973		1,534			966			—			22		(4,495		)	—
Goodwill	—		3,902			—			411			—		—			4,313
Other intangible assets, net	—		812			—			83			—		—			895
Other long-term assets	7		8			—			—			—		—			15
Total assets	$	3,356	$	13,885		$	910		$	1,379		$	1,319	$	(4,495	)	$	16,354
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	$	1	$	28		$	—		$	2		$	865	$	—		$	896
Accounts payable	—		624			—			64			—		—			688
Accrued expenses and other liabilities	—		449			14			38			2		—			503
Total current liabilities	1		1,101			14			104			867		—			2,087
Long-term debt	—		9,170			9			3			—		—			9,182
Deferred taxes	21		1,518			—			89			—		—			1,628
Other long-term liabilities	—		123			—			—			—		—			123
Total liabilities	22		11,912			23			196			867		—			13,020
Total stockholders’ equity (deficit)	3,334		1,973			887			1,183			452		(4,495		)	3,334
Total liabilities and stockholders’ equity (deficit)	$	3,356	$	13,885		$	910		$	1,379		$	1,319	$	(4,495	)	$	16,354

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2017



	Parent		URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
	Parent		URNA			Guarantor Subsidiaries			Foreign			Domestic		Eliminations			Total
ASSETS
Cash and cash equivalents	$	—	$	23		$	—		$	329		$	—	$	—		$	352
Accounts receivable, net	—		56			—			119			1,058		—			1,233
Intercompany receivable (payable)	887		(677		)	(198		)	(124		)	—		112			—
Inventory	—		68			—			7			—		—			75
Prepaid expenses and other assets	4		219			111			2			—		(224		)	112
Total current assets	891		(311		)	(87		)	333			1,058		(112		)	1,772
Rental equipment, net	—		7,264			—			560			—		—			7,824
Property and equipment, net	41		352			32			42			—		—			467
Investments in subsidiaries	2,194		1,148			1,087			—			—		(4,429		)	—
Goodwill	—		3,815			—			267			—		—			4,082
Other intangible assets, net	—		827			—			48			—		—			875
Other long-term assets	3		7			—			—			—		—			10
Total assets	$	3,129	$	13,102		$	1,032		$	1,250		$	1,058	$	(4,541	)	$	15,030
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	$	1	$	25		$	—		$	2		$	695	$	—		$	723
Accounts payable	—		366			—			43			—		—			409
Accrued expenses and other liabilities	—		477			17			41			1		—			536
Total current liabilities	1		868			17			86			696		—			1,668
Long-term debt	1		8,596			117			3			—		—			8,717
Deferred taxes	21		1,324			—			74			—		—			1,419
Other long-term liabilities	—		120			—			—			—		—			120
Total liabilities	23		10,908			134			163			696		—			11,924
Total stockholders’ equity (deficit)	3,106		2,194			898			1,087			362		(4,541		)	3,106
Total liabilities and stockholders’ equity (deficit)	$	3,129	$	13,102		$	1,032		$	1,250		$	1,058	$	(4,541	)	$	15,030

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME





	Parent			URNA		Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
									Foreign		Domestic
Revenues:
Equipment rentals	$	—		$	1,715	$	—		$	146	$	—		$	—		$	1,861
Sales of rental equipment	—			128		—			12		—			—			140
Sales of new equipment	—			46		—			8		—			—			54
Contractor supplies sales	—			22		—			2		—			—			24
Service and other revenues	—			32		—			5		—			—			37
Total revenues	—			1,943		—			173		—			—			2,116
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			614		—			57		—			—			671
Depreciation of rental equipment	—			316		—			27		—			—			343
Cost of rental equipment sales	—			76		—			7		—			—			83
Cost of new equipment sales	—			40		—			6		—			—			46
Cost of contractor supplies sales	—			14		—			1		—			—			15
Cost of service and other revenues	—			16		—			4		—			—			20
Total cost of revenues	—			1,076		—			102		—			—			1,178
Gross profit	—			867		—			71		—			—			938
Selling, general and administrative expenses	28			197		—			24		16			—			265
Merger related costs	—			11		—			—		—			—			11
Restructuring charge	—			8		—			1		—			—			9
Non-rental depreciation and amortization	3			65		—			7		—			—			75
Operating (loss) income	(31		)	586		—			39		(16		)	—			578
Interest (income) expense, net	(11		)	122		(1		)	1		7			—			118
Other (income) expense, net	(172		)	196		—			13		(37		)	—			—
Income before provision for income taxes	152			268		1			25		14			—			460
Provision for income taxes	45			71		—			8		3			—			127
Income before equity in net earnings (loss) of subsidiaries	107			197		1			17		11			—			333
Equity in net earnings (loss) of subsidiaries	226			29		17			—		—			(272		)	—
Net income (loss)	333			226		18			17		11			(272		)	333
Other comprehensive income (loss)	18			18		18			18		—			(54		)	18
Comprehensive income (loss)	$	351		$	244	$	36		$	35	$	11		$	(326	)	$	351

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended September 30, 2017




	Parent			URNA		Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
									Foreign		Domestic
Revenues:
Equipment rentals	$	—		$	1,407	$	—		$	129	$	—		$	—		$	1,536
Sales of rental equipment	—			118		—			21		—			—			139
Sales of new equipment	—			36		—			4		—			—			40
Contractor supplies sales	—			18		—			3		—			—			21
Service and other revenues	—			27		—			3		—			—			30
Total revenues	—			1,606		—			160		—			—			1,766
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			502		—			55		—			—			557
Depreciation of rental equipment	—			266		—			24		—			—			290
Cost of rental equipment sales	—			73		—			11		—			—			84
Cost of new equipment sales	—			31		—			3		—			—			34
Cost of contractor supplies sales	—			12		—			2		—			—			14
Cost of service and other revenues	—			12		—			2		—			—			14
Total cost of revenues	—			896		—			97		—			—			993
Gross profit	—			710		—			63		—			—			773
Selling, general and administrative expenses	42			167		—			19		9			—			237
Merger related costs	—			16		—			—		—			—			16
Restructuring charge	—			8		—			1		—			—			9
Non-rental depreciation and amortization	3			54		—			6		—			—			63
Operating (loss) income	(45		)	465		—			37		(9		)	—			448
Interest (income) expense, net	(5		)	133		1			1		3			(2		)	131
Other (income) expense, net	(144		)	154		—			10		(25		)	—			(5		)
Income (loss) before provision for income taxes	104			178		(1		)	26		13			2			322
Provision for income taxes	39			73		—			7		4			—			123
Income (loss) before equity in net earnings (loss) of subsidiaries	65			105		(1		)	19		9			2			199
Equity in net earnings (loss) of subsidiaries	134			29		19			—		—			(182		)	—
Net income (loss)	199			134		18			19		9			(180		)	199
Other comprehensive income (loss)	42			42		41			33		—			(116		)	42
Comprehensive income (loss)	$	241		$	176	$	59		$	52	$	9		$	(296	)	$	241

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Nine Months Ended September 30, 2018




	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations			Total
										Foreign			Domestic
Revenues:
Equipment rentals	$	—		$	4,568		$	—		$	383		$	—		$	—		$	4,951
Sales of rental equipment	—			435			—			43			—			—			478
Sales of new equipment	—			123			—			17			—			—			140
Contractor supplies sales	—			58			—			8			—			—			66
Service and other revenues	—			92			—			14			—			—			106
Total revenues	—			5,276			—			465			—			—			5,741
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			1,710			—			173			—			—			1,883
Depreciation of rental equipment	—			911			—			77			—			—			988
Cost of rental equipment sales	—			259			—			23			—			—			282
Cost of new equipment sales	—			107			—			14			—			—			121
Cost of contractor supplies sales	—			38			—			5			—			—			43
Cost of service and other revenues	—			49			—			9			—			—			58
Total cost of revenues	—			3,074			—			301			—			—			3,375
Gross profit	—			2,202			—			164			—			—			2,366
Selling, general and administrative expenses	33			604			—			66			33			—			736
Merger related costs	—			14			—			—			—			—			14
Restructuring charge	—			14			—			1			—			—			15
Non-rental depreciation and amortization	11			185			—			17			—			—			213
Operating (loss) income	(44		)	1,385			—			80			(33		)	—			1,388
Interest (income) expense, net	(26		)	349			—			—			17			(1		)	339
Other (income) expense, net	(469		)	529			—			37			(99		)	—			(2		)
Income before provision for income taxes	451			507			—			43			49			1			1,051
Provision for income taxes	105			135			—			13			12			—			265
Income before equity in net earnings (loss) of subsidiaries	346			372			—			30			37			1			786
Equity in net earnings (loss) of subsidiaries	440			68			30			—			—			(538		)	—
Net income (loss)	786			440			30			30			37			(537		)	786
Other comprehensive (loss) income	(27		)	(27		)	(28		)	(95		)	—			150			(27		)
Comprehensive income (loss)	$	759		$	413		$	2		$	(65	)	$	37		$	(387	)	$	759

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Nine Months Ended September 30, 2017




	Parent			URNA		Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
									Foreign		Domestic
Revenues:
Equipment rentals	$	—		$	3,739	$	—		$	330	$	—		$	—		$	4,069
Sales of rental equipment	—			334		—			44		—			—			378
Sales of new equipment	—			113		—			13		—			—			126
Contractor supplies sales	—			53		—			7		—			—			60
Service and other revenues	—			75		—			11		—			—			86
Total revenues	—			4,314		—			405		—			—			4,719
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			1,397		—			159		—			—			1,556
Depreciation of rental equipment	—			738		—			66		—			—			804
Cost of rental equipment sales	—			202		—			23		—			—			225
Cost of new equipment sales	—			97		—			11		—			—			108
Cost of contractor supplies sales	—			37		—			5		—			—			42
Cost of service and other revenues	—			37		—			5		—			—			42
Total cost of revenues	—			2,508		—			269		—			—			2,777
Gross profit	—			1,806		—			136		—			—			1,942
Selling, general and administrative expenses	84			483		—			57		24			—			648
Merger related costs	—			32		—			—		—			—			32
Restructuring charge	—			27		—			1		—			—			28
Non-rental depreciation and amortization	11			162		—			16		—			—			189
Operating (loss) income	(95		)	1,102		—			62		(24		)	—			1,045
Interest (income) expense, net	(10		)	341		2			1		8			(4		)	338
Other (income) expense, net	(387		)	419		—			33		(70		)	—			(5		)
Income (loss) before provision for income taxes	302			342		(2		)	28		38			4			712
Provision for income taxes	102			140		—			7		14			—			263
Income (loss) before equity in net earnings (loss) of subsidiaries	200			202		(2		)	21		24			4			449
Equity in net earnings (loss) of subsidiaries	249			47		21			—		—			(317		)	—
Net income (loss)	449			249		19			21		24			(313		)	449
Other comprehensive income (loss)	75			75		75			61		—			(211		)	75
Comprehensive income (loss)	$	524		$	324	$	94		$	82	$	24		$	(524	)	$	524

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

For the Nine Months Ended September 30, 2018



	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations		Total
	Parent			URNA			Guarantor Subsidiaries			Foreign			Domestic			Eliminations		Total
Net cash provided by (used in) operating activities	$	22		$	2,354		$	(1	)	$	(50	)	$	(202	)	$	—	$	2,123
Net cash used in investing activities	(22		)	(2,259		)	—			(112		)	—			—		(2,393		)
Net cash (used in) provided by financing activities	—			(101		)	1			(109		)	202			—		(7		)
Effect of foreign exchange rates	—			—			—			(10		)	—			—		(10		)
Net decrease in cash and cash equivalents	—			(6		)	—			(281		)	—			—		(287		)
Cash and cash equivalents at beginning of period	—			23			—			329			—			—		352
Cash and cash equivalents at end of period	$	—		$	17		$	—		$	48		$	—		$	—	$	65

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

For the Nine Months Ended September 30, 2017



	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations		Total
	Parent			URNA			Guarantor Subsidiaries			Foreign			Domestic			Eliminations		Total
Net cash provided by (used in) operating activities	$	15		$	1,839		$	(2	)	$	83		$	(179	)	$	—	$	1,756
Net cash used in investing activities	(15		)	(2,135		)	—			(92		)	—			—		(2,242		)
Net cash provided by (used in) financing activities	—			298			2			(2		)	179			—		477
Effect of foreign exchange rates	—			—			—			21			—			—		21
Net increase in cash and cash equivalents	—			2			—			10			—			—		12
Cash and cash equivalents at beginning of period	—			21			—			291			—			—		312
Cash and cash equivalents at end of period	$	—		$	23		$	—		$	301		$	—		$	—	$	324