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Derivatives (Tables)
 6 Months Ended
Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Effect of derivatives on consolidated statements of income
The effect of our derivative instruments on our condensed consolidated statements of income for the three and six months ended June 30, 2015 and 2014 was as follows:
 
 
 
 
Three Months Ended June 30, 2015
 
Three Months Ended June 30, 2014
 
Location of income
(expense)
recognized on
derivative/hedged item
 
Amount of  income
(expense)
recognized
on derivative
 
Amount of  income
(expense)
recognized
on hedged item
 
Amount of  income
(expense)
recognized
on derivative
 
Amount of  income
(expense)
recognized
on hedged item
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Fixed price diesel swaps
Other income
(expense), net (1)
 
 $ *

 
 
 
 $ *
 
 
 
Cost of equipment
rentals, excluding
depreciation (2),
(3)
 
(1
)
 
$
(9
)
 
*
 
$
(12
)
 
 
 
Six Months Ended June 30, 2015
 
Six Months Ended June 30, 2014
 
Location of income
(expense)
recognized on
derivative/hedged item
 
Amount of  income
(expense)
recognized
on derivative
 
Amount of  income
(expense)
recognized
on hedged item
 
Amount of  income
(expense)
recognized
on derivative
 
Amount of  income
(expense)
recognized
on hedged item
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
Fixed price diesel swaps
Other income
(expense), net (1)
 
 $ *

 
 
 
 $ *
 
 
 
Cost of equipment
rentals, excluding
depreciation (2),
(3)
 
(3
)
 
$
(16
)
 
*
 
$
(22
)
*
Amounts are insignificant (less than $1).
(1)
Represents the ineffective portion of the fixed price diesel swaps.
(2)
Amounts recognized on derivative represent the effective portion of the fixed price diesel swaps.
(3)
Amounts recognized on hedged item reflect the use of 2.8 million and 3.0 million gallons of diesel covered by the fixed price swaps during the three months ended June 30, 2015 and 2014, respectively, and the use of 5.4 million and 5.6 million gallons of diesel covered by the fixed price swaps during the six months ended June 30, 2015 and 2014, respectively. These amounts are reflected, net of cash received from, or paid to, the counterparties to the fixed price swaps, in operating cash flows in our condensed consolidated statement of cash flows.