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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
Revenues $ 9,716 $ 8,530 $ 9,351
Cost of revenues:      
Cost of equipment rentals, excluding depreciation 3,329 2,820 3,126
Depreciation of rental equipment 1,611 1,601 1,631
Total cost of revenues 5,863 5,347 5,681
Gross profit 3,853 3,183 3,670
Selling, general and administrative expenses 1,199 979 1,092
Merger related costs 3 0 1
Restructuring charge 2 17 18
Non-rental depreciation and amortization 372 387 407
Operating income 2,277 1,800 2,152
Interest expense, net 424 669 648
Other expense (income), net 7 (8) (10)
Income before provision for income taxes 1,846 1,139 1,514
Provision for income taxes 460 249 340
Net income $ 1,386 $ 890 $ 1,174
Basic earnings per share (in dollars per share) $ 19.14 $ 12.24 $ 15.18
Diluted earnings per share (in dollars per share) $ 19.04 $ 12.20 $ 15.11
Equipment rentals      
Revenues:      
Revenues $ 8,207 $ 7,140 $ 7,964
Sales of rental equipment      
Revenues:      
Revenues 968 858 831
Cost of revenues:      
Cost of goods and services sold 537 526 518
Sales of new equipment      
Revenues:      
Revenues 203 247 268
Cost of revenues:      
Cost of goods and services sold 169 214 231
Contractor supplies sales      
Revenues:      
Revenues 109 98 104
Cost of revenues:      
Cost of goods and services sold 78 69 73
Service and other revenues      
Revenues:      
Revenues 229 187 184
Cost of revenues:      
Cost of goods and services sold $ 139 $ 117 $ 102