Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Financial information by segment

The following tables set forth financial information by segment.

	General rentals		Specialty		Total
Three Months Ended September 30, 2022
Equipment rentals	$	1,942	$	790	$	2,732
Sales of rental equipment	152		29		181
Sales of new equipment	12		20		32
Contractor supplies sales	20		12		32
Service and other revenues	67		7		74
Total revenue	2,193		858		3,051
Depreciation and amortization expense	450		110		560
Equipment rentals gross profit	797		412		1,209
Three Months Ended September 30, 2021
Equipment rentals	$	1,636	$	641	$	2,277
Sales of rental equipment	154		29		183
Sales of new equipment	31		16		47
Contractor supplies sales	19		10		29
Service and other revenues	54		6		60
Total revenue	1,894		702		2,596
Depreciation and amortization expense	412		98		510
Equipment rentals gross profit	649		330		979
Nine Months Ended September 30, 2022
Equipment rentals	$	5,322	$	2,047	$	7,369
Sales of rental equipment	474		82		556
Sales of new equipment	58		57		115
Contractor supplies sales	60		34		94
Service and other revenues	188		24		212
Total revenue	6,102		2,244		8,346
Depreciation and amortization expense	1,300		340		1,640
Equipment rentals gross profit	2,063		983		3,046
Capital expenditures	1,995		643		2,638
Nine Months Ended September 30, 2021
Equipment rentals	$	4,375	$	1,520	$	5,895
Sales of rental equipment	567		77		644
Sales of new equipment	111		42		153
Contractor supplies sales	53		27		80
Service and other revenues	148		20		168
Total revenue	5,254		1,686		6,940
Depreciation and amortization expense	1,184		267		1,451
Equipment rentals gross profit	1,586		721		2,307
Capital expenditures	2,116		334		2,450

	September 30, 2022		December 31, 2021
Total reportable segment assets
General rentals	$	16,953	$	16,087
Specialty	4,466		4,205
Total assets	$	21,419	$	20,292

Reconciliation to equipment rentals gross profit

The following is a reconciliation of equipment rentals gross profit to income before provision for income taxes:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Total equipment rentals gross profit	$	1,209	$	979	$	3,046	$	2,307
Gross profit from other lines of business	157		124		462		385
Selling, general and administrative expenses	(356)		(326)		(1,022)		(877)
Merger related costs (1)	—		—		—		(3)
Restructuring charge (2)	1		—		—		(1)
Non-rental depreciation and amortization	(90)		(98)		(278)		(279)
Interest expense, net	(106)		(132)		(313)		(331)
Other income, net	1		3		12		1
Income before provision for income taxes	$	816	$	550	$	1,907	$	1,202

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(1)Reflects transaction costs associated with the General Finance acquisition discussed above. Merger related costs only include costs associated with major acquisitions completed since 2012 that significantly impact our operations (the "major acquisitions," each of which had annual revenues of over $200 prior to acquisition). For additional information, see "Results of Operations-Other costs/(income)-merger related costs" below.

(2)Primarily reflects severance and branch closure charges associated with our restructuring programs. For additional information, see "Management’s Discussion and Analysis of Financial Condition and Results of Operations-Results of Operations-Other costs/(income)-restructuring charges" below.