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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Equipment rentals $ 1,204 $ 1,220 $ 2,321 $ 2,345
Sales of rental equipment 134 124 249 240
Sales of new equipment 36 39 66 72
Contractor supplies sales 22 21 41 39
Service and other revenues 25 25 54 48
Total revenues 1,421 1,429 2,731 2,744
Cost of revenues:        
Cost of equipment rentals, excluding depreciation 456 445 905 889
Depreciation of rental equipment 242 240 485 475
Cost of rental equipment sales 79 68 147 132
Cost of new equipment sales 29 33 54 60
Cost of contractor supplies sales 15 15 28 27
Cost of service and other revenues 10 10 22 19
Total cost of revenues 831 811 1,641 1,602
Gross profit 590 618 1,090 1,142
Selling, general and administrative expenses 177 175 354 356
Merger related costs 0 1 0 (26)
Restructuring charge 2 0 4 1
Non-rental depreciation and amortization 64 67 131 136
Operating income 347 375 601 675
Interest expense, net 132 232 239 353
Other income, net (2) (6) (2) (9)
Income before provision for income taxes 217 149 364 331
Provision for income taxes 83 63 138 130
Net income $ 134 $ 86 $ 226 $ 201
Basic earnings per share (in dollars per share) $ 1.52 $ 0.89 $ 2.53 $ 2.07
Diluted earnings per share (in dollars per share) $ 1.52 $ 0.88 $ 2.52 $ 2.04