CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2025	Mar. 31, 2024
Cash Flows From Operating Activities:
Net income		$ 518	$ 542
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		751	686
Amortization of deferred financing costs and original issue discounts		4	4
Gain on sales of rental equipment		(167)	(187)
Gain on sales of non-rental equipment		(4)	(3)
Insurance proceeds from damaged equipment		(11)	(13)
Stock compensation expense, net		36	28
Restructuring charge		1	1
Debt related activity	[1]	13	1
Decrease in deferred taxes		(16)	(17)
Changes in operating assets and liabilities, net of amounts acquired:
Decrease in accounts receivable		62	98
Increase in inventory		(27)	(3)
Decrease in prepaid expenses and other assets		67	15
Increase (decrease) in accounts payable		233	(74)
Decrease in accrued expenses and other liabilities		(35)	(49)
Net cash provided by operating activities		1,425	1,029
Cash Flows From Investing Activities:
Payments for purchases of rental equipment		(661)	(511)
Payments for purchases of non-rental equipment and intangible assets		(84)	(58)
Proceeds from sales of rental equipment		377	383
Proceeds from sales of non-rental equipment		14	13
Insurance proceeds from damaged equipment		11	13
Purchases of other companies, net of cash acquired		(17)	(1,118)
Purchases of investments		(1)	(2)
Net cash used in investing activities		(361)	(1,280)
Cash Flows From Financing Activities:
Proceeds from debt		2,098	4,609
Payments of debt		(2,636)	(3,743)
Payment of contingent consideration		(23)	0
Common stock repurchased, including tax withholdings for share based compensation		(289)	(415)
Payments of financing and other debt related costs	[1]	(13)	(16)
Dividends paid		(118)	(110)
Net cash (used in) provided by financing activities		(981)	325
Effect of foreign exchange rates		2	(8)
Net increase in cash and cash equivalents		85	66
Cash and cash equivalents at beginning of period		457	363
Cash and cash equivalents at end of period		542	429
Supplemental disclosure of cash flow information:
Cash paid for income taxes, net		42	131
Cash paid for interest		$ 222	$ 195

[1] The amounts for the three months ended March 31, 2025 reflect bridge financing fees associated with the terminated acquisition of H&E Equipment Services, Inc. d/b/a H&E Rentals (“H&E”) discussed below.