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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues:      
Revenues $ 14,332 $ 11,642 $ 9,716
Cost of revenues:      
Cost of equipment rentals, excluding depreciation 4,900 4,018 3,329
Depreciation of rental equipment 2,350 1,853 1,611
Total cost of revenues 8,519 6,646 5,863
Gross profit 5,813 4,996 3,853
Selling, general and administrative expenses 1,527 1,400 1,199
Merger related costs 0 0 3
Restructuring charge 28 0 2
Non-rental depreciation and amortization 431 364 372
Operating income 3,827 3,232 2,277
Interest expense, net 635 445 424
Other (income) expense, net (19) (15) 7
Income before provision for income taxes 3,211 2,802 1,846
Provision for income taxes 787 697 460
Net income $ 2,424 $ 2,105 $ 1,386
Basic earnings per share (in dollars per share) $ 35.40 $ 29.77 $ 19.14
Diluted earnings per share (in dollars per share) $ 35.28 $ 29.65 $ 19.04
Equipment rentals      
Revenues:      
Revenues $ 12,064 $ 10,116 $ 8,207
Sales of rental equipment      
Revenues:      
Revenues 1,574 965 968
Cost of revenues:      
Cost of goods and services sold 788 399 537
Sales of new equipment      
Revenues:      
Revenues 218 154 203
Cost of revenues:      
Cost of goods and services sold 179 124 169
Contractor supplies sales      
Revenues:      
Revenues 146 126 109
Cost of revenues:      
Cost of goods and services sold 99 84 78
Service and other revenues      
Revenues:      
Revenues 330 281 229
Cost of revenues:      
Cost of goods and services sold $ 203 $ 168 $ 139