Condensed Consolidating Financial Information of Guarantor Subsidiaries (Tables)

3 Months Ended

Mar. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

March 31, 2014



	Parent		URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
	Parent		URNA			Guarantor Subsidiaries			Foreign			SPV		Eliminations			Total
ASSETS
Cash and cash equivalents	$	—	$	23		$	—		$	204		$	—	$	—		$	227
Accounts receivable, net	—		37			—			126			589		—			752
Intercompany receivable (payable)	261		(199		)	(55		)	(135		)	—		128			—
Inventory	—		92			—			10			—		—			102
Prepaid expenses and other assets	—		48			2			9			—		—			59
Deferred taxes	—		258			—			2			—		—			260
Total current assets	261		259			(53		)	216			589		128			1,400
Rental equipment, net	—		4,838			—			568			—		—			5,406
Property and equipment, net	46		302			20			40			—		—			408
Investments in subsidiaries	1,629		1,372			984			—			—		(3,985		)	—
Goodwill, net	—		2,708			—			236			—		—			2,944
Other intangible assets, net	—		892			—			80			—		—			972
Other long-term assets	1		116			—			—			—		—			117
Total assets	$	1,937	$	10,487		$	951		$	1,140		$	589	$	(3,857	)	$	11,247
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	$	89	$	36		$	—		$	—		$	140	$	—		$	265
Accounts payable	—		413			—			41			—		—			454
Accrued expenses and other liabilities	2		329			21			30			—		—			382
Total current liabilities	91		778			21			71			140		—			1,101
Long-term debt	—		6,632			135			7			—		—			6,774
Deferred taxes	22		1,381			—			78			—		—			1,481
Other long-term liabilities	—		67			—			—			—		—			67
Total liabilities	113		8,858			156			156			140		—			9,423
Temporary equity (note 6)	11		—			—			—			—		—			11
Total stockholders’ equity (deficit)	1,813		1,629			795			984			449		(3,857		)	1,813
Total liabilities and stockholders’ equity (deficit)	$	1,937	$	10,487		$	951		$	1,140		$	589	$	(3,857	)	$	11,247

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2013



	Parent		URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries					Eliminations			Total
	Parent		URNA			Guarantor Subsidiaries			Foreign			SPV		Eliminations			Total
ASSETS
Cash and cash equivalents	$	—	$	17		$	—		$	158		$	—	$	—		$	175
Accounts receivable, net	—		36			—			140			628		—			804
Intercompany receivable (payable)	308		(257		)	(51		)	(132		)	—		132			—
Inventory	—		62			—			8			—		—			70
Prepaid expenses and other assets	—		42			1			10			—		—			53
Deferred taxes	—		258			—			2			—		—			260
Total current assets	308		158			(50		)	186			628		132			1,362
Rental equipment, net	—		4,768			—			606			—		—			5,374
Property and equipment, net	48		313			20			40			—		—			421
Investments in subsidiaries	1,648		1,132			997			—			—		(3,777		)	—
Goodwill, net	—		2,708			—			245			—		—			2,953
Other intangible assets, net	—		931			—			87			—		—			1,018
Other long-term assets	2		100			—			—			1		—			103
Total assets	$	2,006	$	10,110		$	967		$	1,164		$	629	$	(3,645	)	$	11,231
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	$	136	$	38		$	—		$	—		$	430	$	—		$	604
Accounts payable	—		254			—			38			—		—			292
Accrued expenses and other liabilities	1		327			25			36			1		—			390
Total current liabilities	137		619			25			74			431		—			1,286
Long-term debt	—		6,421			140			8			—		—			6,569
Deferred taxes	21		1,357			—			81			—		—			1,459
Other long-term liabilities	—		65			—			4			—		—			69
Total liabilities	158		8,462			165			167			431		—			9,383
Temporary equity (note 6)	20		—			—			—			—		—			20
Total stockholders’ equity (deficit)	1,828		1,648			802			997			198		(3,645		)	1,828
Total liabilities and stockholders’ equity (deficit)	$	2,006	$	10,110		$	967		$	1,164		$	629	$	(3,645	)	$	11,231

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended March 31, 2014




	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations			Total
										Foreign			SPV
Revenues:
Equipment rentals	$	—		$	872		$	—		$	133		$	—		$	—		$	1,005
Sales of rental equipment	—			100			—			10			—			—			110
Sales of new equipment	—			21			—			5			—			—			26
Contractor supplies sales	—			15			—			4			—			—			19
Service and other revenues	—			15			—			3			—			—			18
Total revenues	—			1,023			—			155			—			—			1,178
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			354			—			55			—			—			409
Depreciation of rental equipment	—			193			—			24			—			—			217
Cost of rental equipment sales	—			60			—			5			—			—			65
Cost of new equipment sales	—			16			—			4			—			—			20
Cost of contractor supplies sales	—			10			—			3			—			—			13
Cost of service and other revenues	—			5			—			1			—			—			6
Total cost of revenues	—			638			—			92			—			—			730
Gross profit	—			385			—			63			—			—			448
Selling, general and administrative expenses	25			123			—			20			—			—			168
Merger related costs	—			1			—			—			—			—			1
Restructuring charge	—			1			—			—			—			—			1
Non-rental depreciation and amortization	4			51			—			5			—			—			60
Operating (loss) income	(29		)	209			—			38			—			—			218
Interest expense (income), net	6			118			1			1			1			(2		)	125
Other (income) expense, net	(32		)	46			2			3			(20		)	—			(1		)
(Loss) income before provision for income taxes	(3		)	45			(3		)	34			19			2			94
Provision for income taxes	—			18			—			9			7			—			34
(Loss) income before equity in net earnings (loss) of subsidiaries	(3		)	27			(3		)	25			12			2			60
Equity in net earnings (loss) of subsidiaries	63			36			25			—			—			(124		)	—
Net income (loss)	60			63			22			25			12			(122		)	60
Other comprehensive (loss) income	(39		)	(39		)	(38		)	(30		)	—			107			(39		)
Comprehensive income (loss)	$	21		$	24		$	(16	)	$	(5	)	$	12		$	(15	)	$	21

CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended March 31, 2013




	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations			Total
										Foreign			SPV
Revenues:
Equipment rentals	$	—		$	781		$	—		$	135		$	—		$	—		$	916
Sales of rental equipment	—			112			—			11			—			—			123
Sales of new equipment	—			16			—			5			—			—			21
Contractor supplies sales	—			16			—			4			—			—			20
Service and other revenues	—			15			—			5			—			—			20
Total revenues	—			940			—			160			—			—			1,100
Cost of revenues:
Cost of equipment rentals, excluding depreciation	—			333			—			60			—			—			393
Depreciation of rental equipment	—			178			—			24			—			—			202
Cost of rental equipment sales	—			76			—			7			—			—			83
Cost of new equipment sales	—			13			—			4			—			—			17
Cost of contractor supplies sales	—			10			—			3			—			—			13
Cost of service and other revenues	—			6			—			1			—			—			7
Total cost of revenues	—			616			—			99			—			—			715
Gross profit	—			324			—			61			—			—			385
Selling, general and administrative expenses	19			117			—			22			2			—			160
Merger related costs	—			6			—			—			—			—			6
Restructuring charge	—			6			—			—			—			—			6
Non-rental depreciation and amortization	4			55			—			5			—			—			64
Operating (loss) income	(23		)	140			—			34			(2		)	—			149
Interest expense (income), net	2			114			1			1			1			(1		)	118
Interest expense-subordinated convertible debentures	2			—			—			—			—			—			2
Other (income) expense, net	(30		)	45			—			3			(19		)	—			(1		)
Income (loss) before provision (benefit) for income taxes	3			(19		)	(1		)	30			16			1			30
Provision (benefit) for income taxes	1			(7		)	—			9			6			—			9
Income (loss) before equity in net earnings (loss) of subsidiaries	2			(12		)	(1		)	21			10			1			21
Equity in net earnings (loss) of subsidiaries	19			31			21			—			—			(71		)	—
Net income (loss)	21			19			20			21			10			(70		)	21
Other comprehensive (loss) income	(20		)	(20		)	(20		)	(15		)	—			55			(20		)
Comprehensive income (loss)	$	1		$	(1	)	$	—		$	6		$	10		$	(15	)	$	1

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

For the Three Months Ended March 31, 2014



	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations		Total
	Parent			URNA			Guarantor Subsidiaries			Foreign			SPV			Eliminations		Total
Net cash provided by operating activities	$	3		$	390		$	1		$	62		$	52		$	—	$	508
Net cash used in investing activities	(3		)	(219		)	—			(9		)	—			—		(231		)
Net cash used in financing activities	—			(165		)	(1		)	—			(52		)	—		(218		)
Effect of foreign exchange rates	—			—			—			(7		)	—			—		(7		)
Net increase in cash and cash equivalents	—			6			—			46			—			—		52
Cash and cash equivalents at beginning of period	—			17			—			158			—			—		175
Cash and cash equivalents at end of period	$	—		$	23		$	—		$	204		$	—		$	—	$	227

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

For the Three Months Ended March 31, 2013



	Parent			URNA			Guarantor Subsidiaries			Non-Guarantor Subsidiaries						Eliminations		Total
	Parent			URNA			Guarantor Subsidiaries			Foreign			SPV			Eliminations		Total
Net cash provided by (used in) operating activities	$	16		$	295		$	(1	)	$	50		$	49		$	—	$	409
Net cash used in investing activities	(16		)	(148		)	—			(11		)	—			—		(175		)
Net cash (used in) provided by financing activities	—			(143		)	1			—			(49		)	—		(191		)
Effect of foreign exchange rates	—			—			—			(2		)	—			—		(2		)
Net increase in cash and cash equivalents	—			4			—			37			—			—		41
Cash and cash equivalents at beginning of period	—			20			—			86			—			—		106
Cash and cash equivalents at end of period	$	—		$	24		$	—		$	123		$	—		$	—	$	147