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Quarterly Financial Information (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]  
Schedule of quarterly financial information
First
Quarter		Second
Quarter
Third
Quarter 
Fourth
Quarter		Full
Year
For the year ended December 31, 2020 (1):
Total revenues$2,125 $1,939 $2,187 $2,279 $8,530 
Gross profit727 701 886 869 3,183 
Operating income358 381 551 510 1,800 
Net income (1)173 212 208 297 890 
Earnings per share—basic2.33 2.94 2.88 4.11 12.24 
Earnings per share—diluted (3)2.33 2.93 2.87 4.09 12.20 
For the year ended December 31, 2019 (2):
Total revenues$2,117 $2,290 $2,488 $2,456 $9,351 
Gross profit761 911 1,033 965 3,670 
Operating income368 529 656 599 2,152 
Net income (2)175 270 391 338 1,174 
Earnings per share—basic2.21 3.45 5.10 4.51 15.18 
Earnings per share—diluted (3)2.19 3.44 5.08 4.49 15.11 
 
(1)    As discussed in note 12 to our consolidated financial statements, in the fourth quarter of 2020, we redeemed all of our 4 5/8 percent Senior Notes due 2025, and recognized a redemption loss of $24 in interest expense, net. The loss represented the difference between the net carrying amount and the total purchase price of the redeemed notes.
(2)    In the fourth quarter of 2019, we issued $750 aggregate principal amount of 3 7/8 percent Senior Secured Notes due 2027 and redeemed all of our 4 5/8 percent Senior Secured Notes. Upon redemption, we recognized a loss of $29 in interest expense, net. The loss represented the difference between the net carrying amount and the total purchase price of the redeemed notes.
(3)    Diluted earnings per share includes the after-tax impacts of the following:
First
Quarter		Second
Quarter
Third
Quarter 
Fourth
Quarter		Full
Year
For the year ended December 31, 2020:
Merger related intangible asset amortization (4)(0.59)(0.59)(0.55)(0.52)(2.22)
Impact on depreciation related to acquired fleet and property and equipment (5)(0.03)(0.02)(0.06)0.04 (0.08)
Impact of the fair value mark-up of acquired fleet (6)(0.12)(0.10)(0.12)(0.16)(0.51)
Restructuring charge (7)(0.02)(0.04)(0.06)(0.06)(0.18)
Asset impairment charge (8)(0.26)— (0.10)— (0.37)
Loss on extinguishment of debt securities and amendment of ABL facility (9)— — (1.64)(0.25)(1.88)
For the year ended December 31, 2019:
Merger related costs (10)$(0.01)$— $— $— $(0.01)
Merger related intangible asset amortization (4)(0.64)(0.64)(0.63)(0.60)(2.48)
Impact on depreciation related to acquired fleet and property and equipment (5)(0.14)(0.12)(0.07)(0.05)(0.39)
Impact of the fair value mark-up of acquired fleet (6)(0.25)(0.15)(0.14)(0.16)(0.72)
Restructuring charge (7)(0.07)(0.06)(0.02)(0.03)(0.18)
Asset impairment charge (8)(0.01)(0.03)(0.02)0.01 (0.05)
Loss on extinguishment of debt securities and amendment of ABL facility (9)— (0.30)— (0.28)(0.58)

(4)This reflects the amortization of the intangible assets acquired in the RSC, National Pump, NES, Neff, BakerCorp and BlueLine acquisitions.
(5)This reflects the impact of extending the useful lives of equipment acquired in the RSC, NES, Neff, BakerCorp and BlueLine acquisitions, net of the impact of additional depreciation associated with the fair value mark-up of such equipment.
(6)This reflects additional costs recorded in cost of rental equipment sales associated with the fair value mark-up of rental equipment acquired in the RSC, NES, Neff and BlueLine acquisitions and subsequently sold.
(7)As discussed in note 5 to our consolidated financial statements, this primarily reflects severance costs and branch closure charges associated with our restructuring programs.
(8)This reflects write-offs of leasehold improvements and other fixed assets. As discussed in note 5 to our consolidated financial statements, the 2020 charges primarily reflect the discontinuation of certain equipment programs, and were not related to COVID-19.
(9)This primarily reflects the difference between the net carrying amount and the total purchase price of the redeemed notes.
(10)This reflects transaction costs associated with the BakerCorp and BlueLine acquisitions that were completed in 2018.