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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenues:    
Revenues $ 2,524 $ 2,057
Cost of revenues:    
Cost of equipment rentals, excluding depreciation 906 715
Depreciation of rental equipment 435 375
Total cost of revenues 1,532 1,343
Gross profit 992 714
Selling, general and administrative expenses 323 250
Restructuring charge 0 1
Non-rental depreciation and amortization 97 91
Operating income (loss) 572 372
Interest expense, net 94 99
Other income, net (5) (2)
Income before provision for income taxes 483 275
Provision for income taxes 116 72
Net income $ 367 $ 203
Basic earnings per share (in dollars per share) $ 5.07 $ 2.81
Diluted earnings per share (in dollars per share) $ 5.05 $ 2.80
Equipment rentals    
Revenues:    
Revenues $ 2,175 $ 1,667
Sales of rental equipment    
Revenues:    
Revenues 211 267
Cost of revenues:    
Cost of goods and services sold 95 164
Sales of new equipment    
Revenues:    
Revenues 45 49
Cost of revenues:    
Cost of goods and services sold 37 42
Contractor supplies sales    
Revenues:    
Revenues 29 24
Cost of revenues:    
Cost of goods and services sold 20 17
Service and other revenues    
Revenues:    
Revenues 64 50
Cost of revenues:    
Cost of goods and services sold $ 39 $ 30