Rental Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Rental equipment consists of the following:


	December 31,
	2022		2021
Rental equipment	$	20,074	$	16,445
Less accumulated depreciation	(6,797)		(5,885)
Rental equipment, net (1)	$	13,277	$	10,560

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(1) Disciplined management of capital expenditures and fleet capacity is a component of our COVID-19 response plan. In 2020, when we significantly reduced capital expenditures largely due to COVID-19, net rental equipment declined $1.082 billion. Capital expenditures in 2022 and 2021 have exceeded historic (pre-COVID-19) levels. The increase in net rental equipment in 2022 primarily reflects net rental capital expenditures (purchases of rental equipment less proceeds from sales of rental equipment) that exceeded historic levels, as well as the impact of the Ahern Rentals acquisition discussed in note 4 to the consolidated financial statements. Net rental capital expenditures were $2.471 billion, $2.030 billion and $103 in 2022, 2021 and 2020, respectively.

Property and Equipment

Property and equipment consist of the following:


	December 31,
	2022		2021
Land	$	131	$	117
Buildings	230		222
Non-rental vehicles	317		187
Machinery and equipment	223		182
Furniture and fixtures	402		345
Leasehold improvements	516		427
	1,819		1,480
Less accumulated depreciation and amortization	(980)		(868)
Property and equipment, net	$	839	$	612