XML 17 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues:        
Equipment rentals $ 1,861 $ 1,536 $ 4,951 $ 4,069
Service and other revenues 37 30 106 86
Total revenues 2,116 1,766 5,741 4,719
Cost of revenues:        
Cost of equipment rentals, excluding depreciation 671 557 1,883 1,556
Depreciation of rental equipment 343 290 988 804
Cost of service and other revenues 20 14 58 42
Total cost of revenues 1,178 993 3,375 2,777
Gross profit 938 773 2,366 1,942
Selling, general and administrative expenses 265 237 736 648
Merger related costs 11 16 14 32
Restructuring charge 9 9 15 28
Non-rental depreciation and amortization 75 63 213 189
Operating (loss) income 578 448 1,388 1,045
Interest expense, net 118 131 339 338
Other income, net 0 (5) (2) (5)
Income before provision for income taxes 460 322 1,051 712
Provision for income taxes 127 123 265 263
Net income $ 333 $ 199 $ 786 $ 449
Basic earnings per share (in dollars per share) $ 4.05 $ 2.36 $ 9.44 $ 5.31
Diluted earnings per share (in dollars per share) $ 4.01 $ 2.33 $ 9.34 $ 5.26
Rental equipment        
Revenues:        
Sales revenue $ 140 $ 139 $ 478 $ 378
Cost of revenues:        
Cost of goods sold 83 84 282 225
New equipment        
Revenues:        
Sales revenue 54 40 140 126
Cost of revenues:        
Cost of goods sold 46 34 121 108
Contractor supplies        
Revenues:        
Sales revenue 24 21 66 60
Cost of revenues:        
Cost of goods sold $ 15 $ 14 $ 43 $ 42