XML 22 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows From Operating Activities:    
Net income $ 786 $ 449
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,201 993
Amortization of deferred financing costs and original issue discounts 9 6
Gain on sales of rental equipment (196) (153)
Gain on sales of non-rental equipment (4) (4)
Gain on insurance proceeds from damaged equipment (18) (10)
Stock compensation expense, net 73 64
Merger related costs 14 32
Restructuring charge 15 28
Loss on repurchase/redemption of debt securities and amendment of ABL facility 0 43
Increase in deferred taxes 190 97
Changes in operating assets and liabilities, net of amounts acquired:    
Increase in accounts receivable (131) (172)
Increase in inventory (23) (9)
Decrease (increase) in prepaid expenses and other assets 31 (1)
Increase in accounts payable 238 350
(Decrease) increase in accrued expenses and other liabilities (62) 43
Net cash provided by operating activities 2,123 1,756
Cash Flows From Investing Activities:    
Purchases of rental equipment (1,962) (1,485)
Purchases of non-rental equipment (134) (87)
Proceeds from sales of rental equipment 478 378
Proceeds from sales of non-rental equipment 13 10
Insurance proceeds from damaged equipment 18 10
Purchases of other companies, net of cash acquired (805) (1,063)
Purchases of investments (1) (5)
Net cash used in investing activities (2,393) (2,242)
Cash Flows From Financing Activities:    
Proceeds from debt 7,062 8,702
Payments of debt (6,464) (8,156)
Proceeds from the exercise of common stock options 2 1
Common stock repurchased (606) (26)
Payments of financing costs (1) (44)
Net cash (used in) provided by financing activities (7) 477
Effect of foreign exchange rates (10) 21
Net (decrease) increase in cash and cash equivalents (287) 12
Cash and cash equivalents at beginning of period 352 312
Cash and cash equivalents at end of period 65 324
Supplemental disclosure of cash flow information:    
Cash paid for income taxes, net 50 114
Cash paid for interest $ 379 $ 305