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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Equipment rentals $ 1,322 $ 1,326 $ 3,643 $ 3,671
Sales of rental equipment 112 141 361 381
Sales of new equipment 30 38 96 110
Contractor supplies sales 19 21 60 60
Service and other revenues 25 24 79 72
Total revenues 1,508 1,550 4,239 4,294
Cost of revenues:        
Cost of equipment rentals, excluding depreciation 486 470 1,391 1,359
Depreciation of rental equipment 250 249 735 724
Cost of rental equipment sales 68 85 215 217
Cost of new equipment sales 25 31 79 91
Cost of contractor supplies sales 13 15 41 42
Cost of service and other revenues 10 10 32 29
Total cost of revenues 852 860 2,493 2,462
Gross profit 656 690 1,746 1,832
Selling, general and administrative expenses 179 178 533 534
Merger related costs 0 0 0 (26)
Restructuring charge 4 0 8 1
Non-rental depreciation and amortization 61 66 192 202
Operating income 412 446 1,013 1,121
Interest expense, net 110 107 349 460
Other income, net (1) (1) (3) (10)
Income before provision for income taxes 303 340 667 671
Provision for income taxes 116 125 254 255
Net income $ 187 $ 215 $ 413 $ 416
Basic earnings per share (in dollars per share) $ 2.18 $ 2.28 $ 4.68 $ 4.33
Diluted earnings per share (in dollars per share) $ 2.16 $ 2.25 $ 4.66 $ 4.27