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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues:    
Revenues $ 2,117 $ 1,734
Cost of revenues:    
Cost of equipment rentals, excluding depreciation 742 592
Depreciation of rental equipment 395 322
Total cost of revenues 1,356 1,088
Gross profit 761 646
Selling, general and administrative expenses 280 232
Merger related costs 1 1
Restructuring charge 8 2
Non-rental depreciation and amortization 104 71
Operating (loss) income 368 340
Interest expense, net 151 109
Other income, net (3) (1)
Income before provision for income taxes 220 232
Provision for income taxes 45 49
Net income $ 175 $ 183
Basic earnings per share (in dollars per share) $ 2.21 $ 2.18
Diluted earnings per share (in dollars per share) $ 2.19 $ 2.15
Equipment rentals    
Revenues:    
Revenues $ 1,795 $ 1,459
Sales of rental equipment    
Revenues:    
Revenue from contract with customer 192 181
Cost of revenues:    
Cost of Goods and Services Sold 125 107
Sales of new equipment    
Revenues:    
Revenue from contract with customer 62 42
Cost of revenues:    
Cost of Goods and Services Sold 54 37
Contractor supplies sales    
Revenues:    
Revenue from contract with customer 24 18
Cost of revenues:    
Cost of Goods and Services Sold 17 12
Service and other revenues    
Revenues:    
Revenue from contract with customer 44 34
Cost of revenues:    
Cost of Goods and Services Sold $ 23 $ 18