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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues:                      
Total revenues $ 2,306 $ 2,116 $ 1,891 $ 1,734 $ 1,922 $ 1,766 $ 1,597 $ 1,356 $ 8,047 $ 6,641 $ 5,762
Cost of revenues:                      
Cost of equipment rentals, excluding depreciation                 2,614 2,151 1,862
Depreciation of rental equipment                 1,363 1,124 990
Total cost of revenues                 4,683 3,872 3,359
Gross profit 998 938 782 646 827 773 655 514 3,364 2,769 2,403
Selling, general and administrative expenses                 1,038 903 719
Merger related costs 22       18       36 50 0
Restructuring charge 16       22       31 50 14
Non-rental depreciation and amortization                 308 259 255
Operating income 563 578 470 340 462 448 340 257 1,951 1,507 1,415
Interest expense, net                 481 464 511
Other income, net                 (6) (5) (5)
Income before provision (benefit) for income taxes                 1,476 1,048 909
Provision (benefit) for income taxes (note 13)                 380 (298) 343
Net income $ 310 $ 333 $ 270 $ 183 $ 897 $ 199 $ 141 $ 109 $ 1,096 $ 1,346 $ 566
Basic earnings per share (in dollars per share) $ 3.84 $ 4.05 $ 3.22 $ 2.18 $ 10.60 $ 2.36 $ 1.67 $ 1.29 $ 13.26 $ 15.91 $ 6.49
Diluted earnings per share (in dollars per share) $ 3.80 $ 4.01 $ 3.20 $ 2.15 $ 10.45 $ 2.33 $ 1.65 $ 1.27 $ 13.12 $ 15.73 $ 6.45
Total equipment rentals                      
Revenues:                      
Total revenues                 $ 6,940 $ 5,715 $ 4,941
Sales of rental equipment                      
Revenues:                      
Revenue from contract with customer, excluding assessed tax                 664 550 496
Cost of revenues:                      
Cost of goods and services sold                 386 330 292
Sales of new equipment                      
Revenues:                      
Revenue from contract with customer, excluding assessed tax                 208 178 144
Cost of revenues:                      
Cost of goods and services sold                 179 152 119
Contractor supplies sales                      
Revenues:                      
Revenue from contract with customer, excluding assessed tax                 91 80 79
Cost of revenues:                      
Cost of goods and services sold                 60 56 55
Service and other revenues                      
Revenues:                      
Revenue from contract with customer, excluding assessed tax                 144 118 102
Cost of revenues:                      
Cost of goods and services sold                 $ 81 $ 59 $ 41