Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in carrying amount of goodwill

The following table presents the changes in the carrying amount of goodwill for each of the three years in the period ended December 31, 2023:

	General rentals		Specialty		Total
Balance at January 1, 2021 (1)	$	4,368	$	800	$	5,168
Goodwill related to acquisitions (2)	76		295		371
Foreign currency translation and other adjustments	1		(12)		(11)
Balance at December 31, 2021 (1)	4,445		1,083		5,528
Goodwill related to acquisitions (2) (3)	549		(20)		529
Foreign currency translation and other adjustments	(14)		(17)		(31)
Balance at December 31, 2022 (1)	4,980		1,046		6,026
Goodwill related to acquisitions (2) (3)	(209)		111		(98)
Foreign currency translation and other adjustments	4		8		12
Balance at December 31, 2023 (1)	$	4,775	$	1,165	$	5,940

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(1)    The total carrying amount of goodwill for all periods in the table above is reflected net of $1.557 billion of accumulated impairment charges, which were primarily recorded in our general rentals segment.

(2)    Includes goodwill adjustments for the effect on goodwill of changes to net assets acquired during the measurement period, which were not significant to our previously reported operating results or financial condition. Decreases in goodwill related to acquisitions above primarily reflect such measurement period adjustments.

(3)    For additional detail on the December 2022 acquisition of Ahern Rentals, which was assigned to our general rentals segment and accounted for most of the goodwill related to acquisitions in 2022, see note 4 to our consolidated financial statements. The decrease in goodwill related to acquisitions for the general rentals segment in 2023 primarily reflects measurement period adjustments associated with the Ahern Rentals acquisition, partially offset by other acquisition activity.

Components of intangible assets

Other intangible assets were comprised of the following at December 31, 2023 and 2022:  

	December 31, 2023
	Weighted-Average Remaining Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Amount
Non-compete agreements	4 years	$	176	$	58	$	118
Customer relationships	6 years	$	2,468	$	1,919	$	549
Trade names and associated trademarks	2 years	$	9	$	6	$	3

	December 31, 2022
	Weighted-Average Remaining Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Amount
Non-compete agreements	3 years	$	69	$	22	$	47
Customer relationships	5 years	$	2,349	$	1,949	$	400
Trade names and associated trademarks	3 years	$	14	$	9	$	5

	December 31, 2023
	Weighted-Average Remaining Amortization Period	Net Carrying Amount
Non-compete agreements	4 years	77
Customer relationships	8 years	259

Estimated future amortization expense of intangible assets

As of December 31, 2023, estimated amortization expense for other intangible assets for each of the next five years and thereafter was as follows: 

2024	$	208
2025	167
2026	124
2027	81
2028	39
Thereafter	51
Total	$	670