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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:      
Revenues $ 11,642 $ 9,716 $ 8,530
Cost of revenues:      
Cost of equipment rentals, excluding depreciation 4,018 3,329 2,820
Depreciation of rental equipment 1,853 1,611 1,601
Total cost of revenues 6,646 5,863 5,347
Gross profit 4,996 3,853 3,183
Selling, general and administrative expenses 1,400 1,199 979
Merger related costs 0 3 0
Restructuring charge 0 2 17
Non-rental depreciation and amortization 364 372 387
Operating income 3,232 2,277 1,800
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
Provision for income taxes 697 460 249
Net income $ 2,105 $ 1,386 $ 890
Basic earnings per share (in dollars per share) $ 29.77 $ 19.14 $ 12.24
Diluted earnings per share (in dollars per share) $ 29.65 $ 19.04 $ 12.20
Equipment rentals      
Revenues:      
Revenues $ 10,116 $ 8,207 $ 7,140
Sales of rental equipment      
Revenues:      
Revenues 965 968 858
Cost of revenues:      
Cost of goods and services sold 399 537 526
Sales of new equipment      
Revenues:      
Revenues 154 203 247
Cost of revenues:      
Cost of goods and services sold 124 169 214
Contractor supplies sales      
Revenues:      
Revenues 126 109 98
Cost of revenues:      
Cost of goods and services sold 84 78 69
Service and other revenues      
Revenues:      
Revenues 281 229 187
Cost of revenues:      
Cost of goods and services sold $ 168 $ 139 $ 117