Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Equipment rental revenue by equipment type

The following table presents the percentage of equipment rental revenue by equipment type for the years ended December 31, 2022, 2021 and 2020:


	Year Ended December 31,
	2022		2021		2020
Primarily rented by our general rentals segment:
General construction and industrial equipment	42	%	42	%	43	%
Aerial work platforms	24	%	26	%	27	%
General tools and light equipment	8	%	8	%	8	%
Primarily rented by our specialty segment:
Power and HVAC equipment	10	%	9	%	9	%
Trench safety equipment	6	%	6	%	6	%
Fluid solutions equipment	7	%	7	%	7	%
Mobile storage equipment and modular office space (1)	3	%	2	%	—	%

________________

(1)As discussed in note 4 to the consolidated financial statements, in May 2021, we completed the acquisition of General Finance, which was a leading provider of mobile storage equipment and modular office space. Prior to the General Finance acquisition, we did not rent material amounts of such equipment.

Financial information by segment

The following table sets forth financial information by segment as of, and for the years ended, December 31, 2022, 2021 and 2020:


	General rentals		Specialty		Total
2022
Equipment rentals	$	7,345	$	2,771	$	10,116
Sales of rental equipment	835		130		965
Sales of new equipment	73		81		154
Contractor supplies sales	81		45		126
Service and other revenues	250		31		281
Total revenue	8,584		3,058		11,642
Depreciation and amortization expense	1,765		452		2,217
Equipment rentals gross profit	2,905		1,340		4,245
Capital expenditures	2,868		822		3,690
Total assets	$	19,604	$	4,579	$	24,183
2021
Equipment rentals	$	6,074	$	2,133	$	8,207
Sales of rental equipment	862		106		968
Sales of new equipment	142		61		203
Contractor supplies sales	71		38		109
Service and other revenues	202		27		229
Total revenue	7,351		2,365		9,716
Depreciation and amortization expense	1,611		372		1,983
Equipment rentals gross profit	2,269		998		3,267
Capital expenditures	2,719		479		3,198
Total assets	$	16,087	$	4,205	$	20,292
2020
Equipment rentals	$	5,472	$	1,668	$	7,140
Sales of rental equipment	785		73		858
Sales of new equipment	214		33		247
Contractor supplies sales	64		34		98
Service and other revenues	164		23		187
Total revenue	6,699		1,831		8,530
Depreciation and amortization expense	1,633		355		1,988
Equipment rentals gross profit	1,954		765		2,719
Capital expenditures	969		189		1,158
Total assets	$	15,051	$	2,817	$	17,868

Reconciliation of segment operating income to total Company operating income

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


	Year Ended December 31,
	2022		2021		2020
Total equipment rentals gross profit	$	4,245	$	3,267	$	2,719
Gross profit from other lines of business	751		586		464
Selling, general and administrative expenses	(1,400)		(1,199)		(979)
Merger related costs (1)	—		(3)		—
Restructuring charge (2)	—		(2)		(17)
Non-rental depreciation and amortization	(364)		(372)		(387)
Interest expense, net	(445)		(424)		(669)

Other income (expense), net	15		(7)		8
Income before provision for income taxes	$	2,802	$	1,846	$	1,139

___________________

(1)Reflects transaction costs associated with the General Finance acquisition discussed in note 4 to the consolidated financial statements. Merger related costs only include costs associated with major acquisitions that significantly impact our operations.

(2)Primarily relates to branch closure charges and severance costs associated with our closed restructuring programs. As of December 31, 2022, there were no open restructuring programs.

Geographic area information

The following table presents geographic area information for the years ended December 31, 2022, 2021 and 2020, except for balance sheet information, which is presented as of December 31, 2022 and 2021:


	Domestic		Foreign		Total
2022
Equipment rentals	$	9,139	$	977	$	10,116
Sales of rental equipment	870		95		965
Sales of new equipment	122		32		154
Contractor supplies sales	109		17		126
Service and other revenues	248		33		281
Total revenue	10,488		1,154		11,642
Rental equipment, net	12,047		1,230		13,277
Property and equipment, net	789		50		839
Goodwill and other intangible assets, net	$	6,024	$	454	$	6,478
2021
Equipment rentals	$	7,430	$	777	$	8,207
Sales of rental equipment	873		95		968
Sales of new equipment	162		41		203
Contractor supplies sales	95		14		109
Service and other revenues	201		28		229
Total revenue	8,761		955		9,716
Rental equipment, net	9,448		1,112		10,560
Property and equipment, net	560		52		612
Goodwill and other intangible assets, net	$	5,637	$	506	$	6,143
2020
Equipment rentals	$	6,543	$	597	$	7,140
Sales of rental equipment	784		74		858
Sales of new equipment	218		29		247
Contractor supplies sales	86		12		98
Service and other revenues	166		21		187
Total revenue	$	7,797	$	733	$	8,530