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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues:    
Revenues $ 3,485 $ 3,285
Cost of revenues:    
Cost of equipment rentals, excluding depreciation 1,244 1,162
Depreciation of rental equipment 582 575
Total cost of revenues 2,139 2,044
Gross profit 1,346 1,241
Selling, general and administrative expenses 389 382
Restructuring charge 1 1
Non-rental depreciation and amortization 104 118
Operating income (loss) 852 740
Interest expense, net 160 150
Other income, net (3) (4)
Income before provision for income taxes 695 594
Provision for income taxes 153 143
Net income $ 542 $ 451
Basic earnings per share (in dollars per share) $ 8.06 $ 6.50
Diluted earnings per share (in dollars per share) $ 8.04 $ 6.47
Equipment rentals    
Revenues:    
Revenues $ 2,929 $ 2,740
Sales of rental equipment    
Revenues:    
Revenues 383 388
Cost of revenues:    
Cost of goods and services sold 196 198
Sales of new equipment    
Revenues:    
Revenues 48 44
Cost of revenues:    
Cost of goods and services sold 38 36
Contractor supplies sales    
Revenues:    
Revenues 36 34
Cost of revenues:    
Cost of goods and services sold 25 24
Service and other revenues    
Revenues:    
Revenues 89 79
Cost of revenues:    
Cost of goods and services sold $ 54 $ 49