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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Revenues $ 3,765 $ 3,051 $ 10,604 $ 8,346
Cost of revenues:        
Cost of equipment rentals, excluding depreciation 1,286 1,053 3,664 2,961
Depreciation of rental equipment 588 470 1,755 1,362
Total cost of revenues 2,180 1,685 6,353 4,838
Gross profit 1,585 1,366 4,251 3,508
Selling, general and administrative expenses 374 356 1,134 1,022
Restructuring charge 5 (1) 24 0
Non-rental depreciation and amortization 107 90 329 278
Operating income (loss) 1,099 921 2,764 2,208
Interest expense, net 163 106 474 313
Other income, net (7) (1) (19) (12)
Income before provision for income taxes 943 816 2,309 1,907
Provision for income taxes 240 210 564 441
Net income $ 703 $ 606 $ 1,745 $ 1,466
Basic earnings per share (in dollars per share) $ 10.30 $ 8.69 $ 25.37 $ 20.61
Diluted earnings per share (in dollars per share) $ 10.29 $ 8.66 $ 25.30 $ 20.56
Equipment rentals        
Revenues:        
Revenues $ 3,224 $ 2,732 $ 8,945 $ 7,369
Sales of rental equipment        
Revenues:        
Revenues 366 181 1,136 556
Cost of revenues:        
Cost of goods and services sold 185 69 569 231
Sales of new equipment        
Revenues:        
Revenues 52 32 166 115
Cost of revenues:        
Cost of goods and services sold 43 25 137 93
Contractor supplies sales        
Revenues:        
Revenues 39 32 110 94
Cost of revenues:        
Cost of goods and services sold 28 23 78 66
Service and other revenues        
Revenues:        
Revenues 84 74 247 212
Cost of revenues:        
Cost of goods and services sold $ 50 $ 45 $ 150 $ 125