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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues:        
Equipment rentals $ 1,051 $ 604 $ 2,419 $ 1,562
Sales of rental equipment 101 42 258 115
Sales of new equipment 24 24 64 60
Contractor supplies sales 23 23 64 66
Service and other revenues 20 20 63 62
Total revenues 1,219 713 2,868 1,865
Cost of revenues:        
Cost of equipment rentals, excluding depreciation 395 261 991 740
Depreciation of rental equipment 204 110 491 312
Cost of rental equipment sales 72 27 175 73
Cost of new equipment sales 19 19 51 48
Cost of contractor supplies sales 17 15 45 45
Cost of service and other revenues 7 7 23 24
Total cost of revenues 714 439 1,776 1,242
Gross profit 505 274 1,092 623
Selling, general and administrative expenses 164 103 412 298
RSC merger related costs 8 0 98 0
Restructuring charge 40 2 93 [1] 5
Non-rental depreciation and amortization 71 13 134 39
Operating income 222 156 355 281
Interest expense, net 127 57 316 170
Interest expense-subordinated convertible debentures 1 1 3 5
Other expense (income), net 0 2 (13) (2)
Income from continuing operations before provision for income taxes 94 96 49 108
Provision for income taxes 21 31 15 35
Income from continuing operations 73 65 34 73
Loss from discontinued operation, net of taxes 0 0 0 (1)
Net income $ 73 $ 65 $ 34 $ 72
Basic earnings per share:        
Income from continuing operations (in dollars per share) $ 0.78 $ 1.04 $ 0.42 $ 1.18
Loss from discontinued operation (in dollars per share) $ 0.00 $ 0.00 $ 0.00 $ (0.01)
Net income (in dollars per share) $ 0.78 $ 1.04 $ 0.42 $ 1.17
Diluted earnings per share:        
Income from continuing operations (in dollars per share) $ 0.70 $ 0.91 $ 0.37 $ 1.00
Loss from discontinued operation (in dollars per share) $ 0.00 $ 0.00 $ 0.00 $ (0.01)
Net income (in dollars per share) $ 0.70 $ 0.91 $ 0.37 $ 0.99
[1] Reflected in our condensed consolidated statements of income as “Restructuring charge.” These charges are not allocated to our reportable segments.