Segment Information (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Financial information by segment

The following tables set forth financial information by segment.  

	General rentals		Specialty		Total
Three Months Ended September 30, 2021
Equipment rentals	$	1,636	$	641	$	2,277
Sales of rental equipment	154		29		183
Sales of new equipment	31		16		47
Contractor supplies sales	19		10		29
Service and other revenues	54		6		60
Total revenue	1,894		702		2,596
Depreciation and amortization expense	412		98		510
Equipment rentals gross profit	649		330		979
Three Months Ended September 30, 2020
Equipment rentals	$	1,391	$	470	$	1,861
Sales of rental equipment	182		17		199
Sales of new equipment	47		7		54
Contractor supplies sales	17		8		25
Service and other revenues	42		6		48
Total revenue	1,679		508		2,187
Depreciation and amortization expense	402		90		492
Equipment rentals gross profit	543		234		777
Nine Months Ended September 30, 2021
Equipment rentals	$	4,375	$	1,520	$	5,895
Sales of rental equipment	567		77		644
Sales of new equipment	111		42		153
Contractor supplies sales	53		27		80
Service and other revenues	148		20		168
Total revenue	5,254		1,686		6,940
Depreciation and amortization expense	1,184		267		1,451
Equipment rentals gross profit	1,586		721		2,307
Capital expenditures	2,116		334		2,450
Nine Months Ended September 30, 2020
Equipment rentals	$	4,040	$	1,246	$	5,286
Sales of rental equipment	530		53		583
Sales of new equipment	145		24		169
Contractor supplies sales	48		25		73
Service and other revenues	122		18		140
Total revenue	4,885		1,366		6,251
Depreciation and amortization expense	1,240		268		1,508
Equipment rentals gross profit	1,410		577		1,987
Capital expenditures	771		159		930

	September 30, 2021		December 31, 2020
Total reportable segment assets
General rentals	$	16,066	$	15,051
Specialty (1)	4,240		2,817
Total assets	$	20,306	$	17,868

  ___________________

(1)The increase in the specialty segment assets primarily reflects the impact of the General Finance acquisition discussed in note 3 to the condensed consolidated financial statements.

Reconciliation to equipment rentals gross profit

The following is a reconciliation of equipment rentals gross profit to income before provision for income taxes:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Total equipment rentals gross profit	$	979	$	777	$	2,307	$	1,987
Gross profit from other lines of business	124		109		385		327
Selling, general and administrative expenses	(326)		(232)		(877)		(721)
Merger related costs (1)	—		—		(3)		—
Restructuring charge (2)	—		(6)		(1)		(11)
Non-rental depreciation and amortization	(98)		(97)		(279)		(292)
Interest expense, net	(132)		(278)		(331)		(544)
Other income, net	3		2		1		6
Income before provision for income taxes	$	550	$	275	$	1,202	$	752

 ___________________

(1)Reflects transaction costs associated with the General Finance acquisition discussed in note 3 to the condensed consolidated financial statements. Merger related costs only include costs associated with major acquisitions that significantly impact our operations. For additional information, see "Management’s Discussion and Analysis of Financial Condition and Results of Operations-Results of Operations-Other costs/(income)-merger related costs" below.

(2)Primarily reflects severance and branch closure charges associated with our restructuring programs. For additional information, see note 5 to our condensed consolidated financial statements.