Condensed Consolidating Financial Information of Guarantor Subsidiaries (Tables)

6 Months Ended

Jun. 30, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

June 30, 2014



	Parent		URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
	Parent		URNA			Guarantor Subsidiaries			Foreign			SPV		Eliminations			Total
ASSETS
Cash and cash equivalents	$	—	$	26		$	—		$	144		$	—	$	—		$	170
Accounts receivable, net	—		31			—			127			686		—			844
Intercompany receivable (payable)	329		(264		)	(57		)	(143		)	—		135			—
Inventory	—		104			—			15			—		—			119
Prepaid expenses and other assets	—		56			2			13			—		—			71
Deferred taxes	—		190			—			2			—		—			192
Total current assets	329		143			(55		)	158			686		135			1,396
Rental equipment, net	—		5,384			—			645			—		—			6,029
Property and equipment, net	48		310			21			44			—		—			423
Investments in subsidiaries	1,539		1,167			1,036			—			—		(3,742		)	—
Goodwill, net	—		3,000			—			293			—		—			3,293
Other intangible assets, net	—		1,104			—			114			—		—			1,218
Other long-term assets	1		107			—			—			—		—			108
Total assets	$	1,917	$	11,215		$	1,002		$	1,254		$	686	$	(3,607	)	$	12,467
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	$	87	$	38		$	—		$	—		$	496	$	—		$	621
Accounts payable	—		547			—			78			—		—			625
Accrued expenses and other liabilities	1		433			20			46			—		—			500
Total current liabilities	88		1,018			20			124			496		—			1,746
Long-term debt	—		7,246			140			8			—		—			7,394
Deferred taxes	22		1,334			—			84			—		—			1,440
Other long-term liabilities	—		78			—			2			—		—			80
Total liabilities	110		9,676			160			218			496		—			10,660
Temporary equity (note 8)	10		—			—			—			—		—			10
Total stockholders’ equity (deficit)	1,797		1,539			842			1,036			190		(3,607		)	1,797
Total liabilities and stockholders’ equity (deficit)	$	1,917	$	11,215		$	1,002		$	1,254		$	686	$	(3,607	)	$	12,467

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2013



	Parent		URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
	Parent		URNA			Guarantor Subsidiaries			Foreign			SPV		Eliminations			Total
ASSETS
Cash and cash equivalents	$	—	$	17		$	—		$	158		$	—	$	—		$	175
Accounts receivable, net	—		36			—			140			628		—			804
Intercompany receivable (payable)	308		(257		)	(51		)	(132		)	—		132			—
Inventory	—		62			—			8			—		—			70
Prepaid expenses and other assets	—		42			1			10			—		—			53
Deferred taxes	—		258			—			2			—		—			260
Total current assets	308		158			(50		)	186			628		132			1,362
Rental equipment, net	—		4,768			—			606			—		—			5,374
Property and equipment, net	48		313			20			40			—		—			421
Investments in subsidiaries	1,648		1,132			997			—			—		(3,777		)	—
Goodwill, net	—		2,708			—			245			—		—			2,953
Other intangible assets, net	—		931			—			87			—		—			1,018
Other long-term assets	2		100			—			—			1		—			103
Total assets	$	2,006	$	10,110		$	967		$	1,164		$	629	$	(3,645	)	$	11,231
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	$	136	$	38		$	—		$	—		$	430	$	—		$	604
Accounts payable	—		254			—			38			—		—			292
Accrued expenses and other liabilities	1		327			25			36			1		—			390
Total current liabilities	137		619			25			74			431		—			1,286
Long-term debt	—		6,421			140			8			—		—			6,569
Deferred taxes	21		1,357			—			81			—		—			1,459
Other long-term liabilities	—		65			—			4			—		—			69
Total liabilities	158		8,462			165			167			431		—			9,383
Temporary equity (note 8)	20		—			—			—			—		—			20
Total stockholders’ equity (deficit)	1,828		1,648			802			997			198		(3,645		)	1,828
Total liabilities and stockholders’ equity (deficit)	$	2,006	$	10,110		$	967		$	1,164		$	629	$	(3,645	)	$	11,231

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended June 30, 2014





	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
										Foreign		SPV
Revenues:
Equipment rentals	$	—		$	1,042		$	—		$	137	$	—		$	—		$	1,179
Sales of rental equipment	—			122			—			16		—			—			138
Sales of new equipment	—			31			—			6		—			—			37
Contractor supplies sales	—			19			—			3		—			—			22
Service and other revenues	—			17			—			6		—			—			23
Total revenues	—			1,231			—			168		—			—			1,399
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			383			—			64		—			—			447
Depreciation of rental equipment	—			203			—			26		—			—			229
Cost of rental equipment sales	—			70			—			10		—			—			80
Cost of new equipment sales	—			27			—			4		—			—			31
Cost of contractor supplies sales	—			13			—			2		—			—			15
Cost of service and other revenues	—			5			—			3		—			—			8
Total cost of revenues	—			701			—			109		—			—			810
Gross profit	—			530			—			59		—			—			589
Selling, general and administrative expenses	(6		)	171			2			23		(3		)	—			187
Merger related costs	—			8			—			—		—			—			8
Restructuring charge	—			(1		)	—			—		—			—			(1		)
Non-rental depreciation and amortization	5			58			—			7		—			—			70
Operating income (loss)	1			294			(2		)	29		3			—			325
Interest expense (income), net	1			182			2			2		1			(1		)	187
Other (income) expense, net	(37		)	52			(3		)	4		(20		)	—			(4		)
Income (loss) before provision for income taxes	37			60			(1		)	23		22			1			142
Provision for income taxes	1			32			—			6		9			—			48
Income (loss) before equity in net earnings (loss) of subsidiaries	36			28			(1		)	17		13			1			94
Equity in net earnings (loss) of subsidiaries	58			30			17			—		—			(105		)	—
Net income (loss)	94			58			16			17		13			(104		)	94
Other comprehensive income (loss)	36			36			36			28		—			(100		)	36
Comprehensive income (loss)	$	130		$	94		$	52		$	45	$	13		$	(204	)	$	130

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended June 30, 2013




	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations			Total
										Foreign			SPV
Revenues:
Equipment rentals	$	—		$	870		$	—		$	139		$	—		$	—		$	1,009
Sales of rental equipment	—			116			—			15			—			—			131
Sales of new equipment	—			18			—			6			—			—			24
Contractor supplies sales	—			18			—			5			—			—			23
Service and other revenues	—			16			—			3			—			—			19
Total revenues	—			1,038			—			168			—			—			1,206
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			336			—			63			—			—			399
Depreciation of rental equipment	—			184			—			24			—			—			208
Cost of rental equipment sales	—			78			—			9			—			—			87
Cost of new equipment sales	—			14			—			5			—			—			19
Cost of contractor supplies sales	—			13			—			3			—			—			16
Cost of service and other revenues	—			4			—			2			—			—			6
Total cost of revenues	—			629			—			106			—			—			735
Gross profit	—			409			—			62			—			—			471
Selling, general and administrative expenses	(10		)	142			—			23			(3		)	—			152
Merger related costs	—			2			—			—			—			—			2
Restructuring charge	—			5			—			—			—			—			5
Non-rental depreciation and amortization	4			53			—			5			—			—			62
Operating income (loss)	6			207			—			34			3			—			250
Interest expense (income), net	4			112			2			—			1			(1		)	118
Interest expense-subordinated convertible debentures	1			—			—			—			—			—			1
Other (income) expense, net	(35		)	48			—			6			(19		)	—			—
Income (loss) before provision for income taxes	36			47			(2		)	28			21			1			131
Provision for income taxes	8			24			—			7			9			—			48
Income (loss) before equity in net earnings (loss) of subsidiaries	28			23			(2		)	21			12			1			83
Equity in net earnings (loss) of subsidiaries	55			32			21			—			—			(108		)	—
Net income (loss)	83			55			19			21			12			(107		)	83
Other comprehensive (loss) income	(32		)	(32		)	(32		)	(25		)	—			89			(32		)
Comprehensive income (loss)	$	51		$	23		$	(13	)	$	(4	)	$	12		$	(18	)	$	51

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Six Months Ended June 30, 2014




	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations			Total
										Foreign			SPV
Revenues:
Equipment rentals	$	—		$	1,914		$	—		$	270		$	—		$	—		$	2,184
Sales of rental equipment	—			222			—			26			—			—			248
Sales of new equipment	—			52			—			11			—			—			63
Contractor supplies sales	—			34			—			7			—			—			41
Service and other revenues	—			32			—			9			—			—			41
Total revenues	—			2,254			—			323			—			—			2,577
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			737			—			119			—			—			856
Depreciation of rental equipment	—			396			—			50			—			—			446
Cost of rental equipment sales	—			130			—			15			—			—			145
Cost of new equipment sales	—			43			—			8			—			—			51
Cost of contractor supplies sales	—			23			—			5			—			—			28
Cost of service and other revenues	—			10			—			4			—			—			14
Total cost of revenues	—			1,339			—			201			—			—			1,540
Gross profit	—			915			—			122			—			—			1,037
Selling, general and administrative expenses	19			294			2			43			(3		)	—			355
Merger related costs	—			9			—			—			—			—			9
Restructuring charge	—			—			—			—			—			—			—
Non-rental depreciation and amortization	9			109			—			12			—			—			130
Operating (loss) income	(28		)	503			(2		)	67			3			—			543
Interest expense (income), net	7			300			3			3			2			(3		)	312
Other (income) expense, net	(69		)	98			(1		)	7			(40		)	—			(5		)
Income (loss) before provision for income taxes	34			105			(4		)	57			41			3			236
Provision for income taxes	1			50			—			15			16			—			82
Income (loss) before equity in net earnings (loss) of subsidiaries	33			55			(4		)	42			25			3			154
Equity in net earnings (loss) of subsidiaries	121			66			42			—			—			(229		)	—
Net income (loss)	154			121			38			42			25			(226		)	154
Other comprehensive (loss) income	(3		)	(3		)	(2		)	(2		)	—			7			(3		)
Comprehensive income (loss)	$	151		$	118		$	36		$	40		$	25		$	(219	)	$	151

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Six Months Ended June 30, 2013




	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations			Total
										Foreign			SPV
Revenues:
Equipment rentals	$	—		$	1,651		$	—		$	274		$	—		$	—		$	1,925
Sales of rental equipment	—			228			—			26			—			—			254
Sales of new equipment	—			34			—			11			—			—			45
Contractor supplies sales	—			34			—			9			—			—			43
Service and other revenues	—			31			—			8			—			—			39
Total revenues	—			1,978			—			328			—			—			2,306
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			669			—			123			—			—			792
Depreciation of rental equipment	—			362			—			48			—			—			410
Cost of rental equipment sales	—			154			—			16			—			—			170
Cost of new equipment sales	—			27			—			9			—			—			36
Cost of contractor supplies sales	—			23			—			6			—			—			29
Cost of service and other revenues	—			10			—			3			—			—			13
Total cost of revenues	—			1,245			—			205			—			—			1,450
Gross profit	—			733			—			123			—			—			856
Selling, general and administrative expenses	9			259			—			45			(1		)	—			312
Merger related costs	—			8			—			—			—			—			8
Restructuring charge	—			11			—			—			—			—			11
Non-rental depreciation and amortization	8			108			—			10			—			—			126
Operating (loss) income	(17		)	347			—			68			1			—			399
Interest expense (income), net	6			226			3			1			2			(2		)	236
Interest expense-subordinated convertible debentures	3			—			—			—			—			—			3
Other (income) expense, net	(65		)	93			—			9			(38		)	—			(1		)
Income (loss) before provision for income taxes	39			28			(3		)	58			37			2			161
Provision for income taxes	9			17			—			16			15			—			57
Income (loss) before equity in net earnings (loss) of subsidiaries	30			11			(3		)	42			22			2			104
Equity in net earnings (loss) of subsidiaries	74			63			42			—			—			(179		)	—
Net income (loss)	104			74			39			42			22			(177		)	104
Other comprehensive (loss) income	(52		)	(52		)	(52		)	(40		)	—			144			(52		)
Comprehensive income (loss)	$	52		$	22		$	(13	)	$	2		$	22		$	(33	)	$	52

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

For the Six Months Ended June 30, 2014



	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations		Total
	Parent			URNA			Guarantor Subsidiaries			Foreign			SPV			Eliminations		Total
Net cash provided by (used in) operating activities	$	10		$	928		$	2		$	146		$	(32	)	$	—	$	1,054
Net cash used in investing activities	(10		)	(1,402		)	—			(158		)	—			—		(1,570		)
Net cash provided by (used in) financing activities	—			483			(2		)	(1		)	32			—		512
Effect of foreign exchange rates	—			—			—			(1		)	—			—		(1		)
Net increase (decrease) in cash and cash equivalents	—			9			—			(14		)	—			—		(5		)
Cash and cash equivalents at beginning of period	—			17			—			158			—			—		175
Cash and cash equivalents at end of period	$	—		$	26		$	—		$	144		$	—		$	—	$	170

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

For the Six Months Ended June 30, 2013



	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations		Total
	Parent			URNA			Guarantor Subsidiaries			Foreign			SPV			Eliminations		Total
Net cash provided by (used in) operating activities	$	17		$	717		$	(2	)	$	122		$	24		$	—	$	878
Net cash used in investing activities	(17		)	(710		)	—			(74		)	—			—		(801		)
Net cash (used in) provided by financing activities	—			(20		)	2			(1		)	(24		)	—		(43		)
Effect of foreign exchange rates	—			—			—			(7		)	—			—		(7		)
Net increase in cash and cash equivalents	—			(13		)	—			40			—			—		27
Cash and cash equivalents at beginning of period	—			20			—			86			—			—		106
Cash and cash equivalents at end of period	$	—		$	7		$	—		$	126		$	—		$	—	$	133