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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues:        
Equipment rentals $ 1,326 $ 1,315 $ 3,671 $ 3,499
Sales of rental equipment 141 140 381 388
Sales of new equipment 38 42 110 105
Contractor supplies sales 21 23 60 64
Service and other revenues 24 24 72 65
Total revenues 1,550 1,544 4,294 4,121
Cost of revenues:        
Cost of equipment rentals, excluding depreciation 470 480 1,359 1,336
Depreciation of rental equipment 249 236 724 682
Cost of rental equipment sales 85 82 217 227
Cost of new equipment sales 31 33 91 84
Cost of contractor supplies sales 15 16 42 44
Cost of service and other revenues 10 9 29 23
Total cost of revenues 860 856 2,462 2,396
Gross profit 690 688 1,832 1,725
Selling, general and administrative expenses 178 194 534 549
Merger related costs 0 4 (26) 13
Restructuring charge 0 (2) 1 [1] (2)
Non-rental depreciation and amortization 66 70 202 200
Operating income 446 422 1,121 965
Interest expense, net 107 124 460 436
Other income, net (1) [2] (5) (10) [3] (10)
Income before provision for income taxes 340 303 671 539
Provision for income taxes 125 111 255 193
Net income $ 215 $ 192 $ 416 $ 346
Basic earnings per share (in dollars per share) $ 2.28 $ 1.95 $ 4.33 $ 3.57
Diluted earnings per share (in dollars per share) $ 2.25 $ 1.84 $ 4.27 $ 3.29
[1] Reflected in our condensed consolidated statements of income as “Restructuring charge.” These charges are not allocated to our reportable segments.
[2] Other (income) expense, net includes an adjustment to the amount of royalties Holdings receives from URNA and its subsidiaries as discussed below (see Item 2- Management’s Discussion and Analysis of Financial Condition and Results of Operations- Liquidity and Capital Resources- Relationship between Holdings and URNA).
[3] Other (income) expense, net includes an adjustment to the amount of royalties Holdings receives from URNA and its subsidiaries as discussed below (see Item 2- Management’s Discussion and Analysis of Financial Condition and Results of Operations- Liquidity and Capital Resources- Relationship between Holdings and URNA).