XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues:    
Revenues $ 3,285 $ 2,524
Cost of revenues:    
Cost of equipment rentals, excluding depreciation 1,162 906
Depreciation of rental equipment 575 435
Total cost of revenues 2,044 1,532
Gross profit 1,241 992
Selling, general and administrative expenses 382 323
Restructuring charge 1 0
Non-rental depreciation and amortization 118 97
Operating income (loss) 740 572
Interest expense, net 150 94
Other income, net (4) (5)
Income before provision for income taxes 594 483
Provision for income taxes 143 116
Net income $ 451 $ 367
Basic earnings per share (in dollars per share) $ 6.50 $ 5.07
Diluted earnings per share (in dollars per share) $ 6.47 $ 5.05
Equipment rentals    
Revenues:    
Revenues $ 2,740 $ 2,175
Sales of rental equipment    
Revenues:    
Revenues 388 211
Cost of revenues:    
Cost of goods and services sold 198 95
Sales of new equipment    
Revenues:    
Revenues 44 45
Cost of revenues:    
Cost of goods and services sold 36 37
Contractor supplies sales    
Revenues:    
Revenues 34 29
Cost of revenues:    
Cost of goods and services sold 24 20
Service and other revenues    
Revenues:    
Revenues 79 64
Cost of revenues:    
Cost of goods and services sold $ 49 $ 39