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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Revenues $ 15,345 $ 14,332 $ 11,642
Cost of revenues:      
Cost of equipment rentals, excluding depreciation 5,365 4,900 4,018
Depreciation of rental equipment 2,466 2,350 1,853
Total cost of revenues 9,195 8,519 6,646
Gross profit 6,150 5,813 4,996
Selling, general and administrative expenses 1,645 1,527 1,400
Restructuring charge 3 28 0
Non-rental depreciation and amortization 437 431 364
Operating income 4,065 3,827 3,232
Interest expense, net 691 635 445
Other income, net (14) (19) (15)
Income before provision for income taxes 3,388 3,211 2,802
Provision for income taxes 813 787 697
Net income $ 2,575 $ 2,424 $ 2,105
Basic earnings per share (in dollars per share) $ 38.82 $ 35.40 $ 29.77
Diluted earnings per share (in dollars per share) $ 38.69 $ 35.28 $ 29.65
Equipment rentals      
Revenues:      
Revenues $ 13,029 $ 12,064 $ 10,116
Sales of rental equipment      
Revenues:      
Revenues 1,521 1,574 965
Cost of revenues:      
Cost of goods and services sold 811 788 399
Sales of new equipment      
Revenues:      
Revenues 282 218 154
Cost of revenues:      
Cost of goods and services sold 229 179 124
Contractor supplies sales      
Revenues:      
Revenues 155 146 126
Cost of revenues:      
Cost of goods and services sold 103 99 84
Service and other revenues      
Revenues:      
Revenues 358 330 281
Cost of revenues:      
Cost of goods and services sold $ 221 $ 203 $ 168