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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenues:        
Equipment rentals $ 1,009 $ 845 $ 1,925 $ 1,368
Sales of rental equipment 131 81 254 157
Sales of new equipment 24 22 45 40
Contractor supplies sales 23 23 43 41
Service and other revenues 19 22 39 43
Total revenues 1,206 993 2,306 1,649
Cost of revenues:        
Cost of equipment rentals, excluding depreciation 399 350 792 596
Depreciation of rental equipment 208 172 410 287
Cost of rental equipment sales 87 56 170 103
Cost of new equipment sales 19 17 36 32
Cost of contractor supplies sales 16 16 29 28
Cost of service and other revenues 6 8 13 16
Total cost of revenues 735 619 1,450 1,062
Gross profit 471 374 856 587
Selling, general and administrative expenses 152 146 312 248
RSC merger related costs 2 80 8 90
Restructuring charge 5 53 11 [1] 53
Non-rental depreciation and amortization 62 49 126 63
Operating income 250 46 399 133
Interest expense, net 118 121 236 189
Interest expense—subordinated convertible debentures 1 1 3 2
Other income, net 0 (12) (1) (13)
Income (loss) before provision (benefit) for income taxes 131 (64) 161 (45)
Provision (benefit) for income taxes 48 (12) 57 (6)
Net income (loss) $ 83 $ (52) $ 104 $ (39)
Basic earnings (loss) per share (in dollars per share) $ 0.89 $ (0.63) $ 1.12 $ (0.53)
Diluted earnings (loss) per share (in dollars per share) $ 0.78 $ (0.63) $ 0.98 $ (0.53)
[1] Reflected in our condensed consolidated statements of income as “Restructuring charge.” These charges are not allocated to our reportable segments.