Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Financial information by segment

The following tables set forth financial information by segment.

	General rentals		Specialty		Total
Three Months Ended June 30, 2022
Equipment rentals	$	1,787	$	675	$	2,462
Sales of rental equipment	138		26		164
Sales of new equipment	17		21		38
Contractor supplies sales	22		11		33
Service and other revenues	63		11		74
Total revenue	2,027		744		2,771
Depreciation and amortization expense	428		120		548
Equipment rentals gross profit	691		312		1,003
Three Months Ended June 30, 2021
Equipment rentals	$	1,466	$	485	$	1,951
Sales of rental equipment	166		28		194
Sales of new equipment	38		19		57
Contractor supplies sales	18		9		27
Service and other revenues	50		8		58
Total revenue	1,738		549		2,287
Depreciation and amortization expense	392		83		475
Equipment rentals gross profit	526		225		751
Six Months Ended June 30, 2022
Equipment rentals	$	3,380	$	1,257	$	4,637
Sales of rental equipment	322		53		375
Sales of new equipment	46		37		83
Contractor supplies sales	40		22		62
Service and other revenues	121		17		138
Total revenue	3,909		1,386		5,295
Depreciation and amortization expense	850		230		1,080
Equipment rentals gross profit	1,266		571		1,837
Capital expenditures	1,094		383		1,477
Six Months Ended June 30, 2021
Equipment rentals	$	2,739	$	879	$	3,618
Sales of rental equipment	413		48		461
Sales of new equipment	80		26		106
Contractor supplies sales	34		17		51
Service and other revenues	94		14		108
Total revenue	3,360		984		4,344
Depreciation and amortization expense	772		169		941
Equipment rentals gross profit	937		391		1,328
Capital expenditures	1,116		145		1,261

	June 30, 2022		December 31, 2021
Total reportable segment assets
General rentals	$	16,513	$	16,087
Specialty	4,307		4,205
Total assets	$	20,820	$	20,292

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				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Total equipment rentals gross profit	$	1,003	$	751	$	1,837	$	1,328
Gross profit from other lines of business	147		124		305		261
Selling, general and administrative expenses	(343)		(301)		(666)		(551)
Merger related costs (1)	—		(3)		—		(3)
Restructuring charge (2)	(1)		—		(1)		(1)
Non-rental depreciation and amortization	(91)		(90)		(188)		(181)
Interest expense, net	(113)		(100)		(207)		(199)
Other income (expense), net	6		(4)		11		(2)
Income before provision for income taxes	$	608	$	377	$	1,091	$	652

 ___________________

(1)Reflects transaction costs associated with the General Finance acquisition discussed above. Merger related costs only include costs associated with major acquisitions completed since 2012 that significantly impact our operations (the "major acquisitions," each of which had annual revenues of over $200 prior to acquisition). For additional information, see "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 "Management’s Discussion and Analysis of Financial Condition and Results of Operations-Results of Operations-Other costs/(income)-restructuring charges" below.