Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Financial Information by Segment

The following tables set forth financial information by segment.


	General rentals		Specialty		Total
Three Months Ended June 30, 2024
Equipment rentals	$	2,209	$	1,006	$	3,215
Sales of rental equipment	313		52		365
Sales of new equipment	27		34		61
Contractor supplies sales	23		19		42
Service and other revenues	81		9		90
Total revenue	2,653		1,120		3,773
Depreciation and amortization expense	541		176		717
Equipment rentals gross profit	802		483		1,285
Three Months Ended June 30, 2023
Equipment rentals	$	2,189	$	792	$	2,981
Sales of rental equipment	342		40		382
Sales of new equipment	24		46		70
Contractor supplies sales	23		14		37
Service and other revenues	75		9		84
Total revenue	2,653		901		3,554
Depreciation and amortization expense	580		116		696
Equipment rentals gross profit	788		385		1,173
Six Months Ended June 30, 2024
Equipment rentals	$	4,279	$	1,865	$	6,144
Sales of rental equipment	659		89		748
Sales of new equipment	56		53		109
Contractor supplies sales	43		35		78
Service and other revenues	162		17		179
Total revenue	5,199		2,059		7,258
Depreciation and amortization expense	1,115		288		1,403
Equipment rentals gross profit	1,483		905		2,388
Capital expenditures (1)	1,658		523		2,181
Six Months Ended June 30, 2023
Equipment rentals	$	4,207	$	1,514	$	5,721
Sales of rental equipment	692		78		770
Sales of new equipment	42		72		114
Contractor supplies sales	44		27		71
Service and other revenues	147		16		163
Total revenue	5,132		1,707		6,839
Depreciation and amortization expense	1,157		232		1,389
Equipment rentals gross profit	1,451		725		2,176
Capital expenditures (1)	1,766		461		2,227

___________________

(1)The condensed consolidated statements of cash flows include the payments for capital expenditures, while the table above reflects the gross capital expenditures. Accounts payable as of June 30, 2024 and December 31, 2023 included $224 and $74, respectively, of amounts due but unpaid for purchases of rental equipment. The net impact of accrued purchases of rental equipment was not material for the six months ended June 30, 2023.


	June 30, 2024		December 31, 2023
Total reportable segment assets
General rentals	$	20,804	$	20,411
Specialty (1)	6,809		5,178
Total assets	$	27,613	$	25,589

___________________

(1)The increase in the specialty segment assets primarily reflects the impact of the Yak acquisition discussed in note 3 to the condensed consolidated financial statements.

Schedule of 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				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Total equipment rentals gross profit	$	1,285	$	1,173	$	2,388	$	2,176
Gross profit from other lines of business	233		252		476		490
Selling, general and administrative expenses	(404)		(378)		(793)		(760)

Restructuring charge (1)	(1)		(18)		(2)		(19)
Non-rental depreciation and amortization	(109)		(104)		(213)		(222)
Interest expense, net	(173)		(161)		(333)		(311)

Other income, net	4		8		7		12
Income before provision for income taxes	$	835	$	772	$	1,530	$	1,366

___________________

(1)Primarily reflects severance and branch closure charges associated with our restructuring programs. The restructuring charges generally involve the closure of a large number of branches over a short period of time, often in periods following a major acquisition. The amounts above primarily reflect charges associated with the restructuring program initiated following the December 2022 acquisition of Ahern Rentals, Inc. As of June 30, 2024, there were no open restructuring programs.