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Quarterly Financial Information (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Schedule of quarterly financial information
 
First
Quarter
 
Second
Quarter
 
Third
Quarter 
 
Fourth
Quarter
 
Full
Year
For the year ended December 31, 2019 (1):
 
 
 
 
 
 
 
 
 
Total revenues
$
2,117

 
$
2,290

 
$
2,488

 
$
2,456

 
$
9,351

Gross profit
761

 
911

 
1,033

 
965

 
3,670

Operating income
368

 
529

 
656

 
599

 
2,152

Net income (1)
175

 
270

 
391

 
338

 
1,174

Earnings per share—basic
2.21

 
3.45

 
5.10

 
4.51

 
15.18

Earnings per share—diluted (3)
2.19

 
3.44

 
5.08

 
4.49

 
15.11

For the year ended December 31, 2018 (2):
 
 
 
 
 
 
 
 
 
Total revenues
$
1,734

 
$
1,891

 
$
2,116

 
$
2,306

 
$
8,047

Gross profit
646

 
782

 
938

 
998

 
3,364

Operating income
340

 
470

 
578

 
563

 
1,951

Net income (2)
183

 
270

 
333

 
310

 
1,096

Earnings per share—basic
2.18

 
3.22

 
4.05

 
3.84

 
13.26

Earnings per share—diluted (3)
2.15

 
3.20

 
4.01

 
3.80

 
13.12

 
(1)
As discussed in note 12 to our consolidated financial statements, in the fourth quarter of 2019, we issued $750 aggregate principal amount of 3 7/8 percent Senior Secured Notes due 2027 and redeemed all of our 4 5/8 percent Senior Secured Notes. Upon redemption, we recognized a loss of $29 in interest expense, net. The loss represented the difference between the net carrying amount and the total purchase price of the redeemed notes.
(2)
The fourth quarter of 2018 included $22 of merger related costs and $16 of restructuring charges primarily associated with the BakerCorp and BlueLine acquisitions discussed in note 4 to our consolidated financial statements.
(3)
Diluted earnings per share includes the after-tax impacts of the following:
 
First
Quarter
 
Second
Quarter
 
Third
Quarter 
 
Fourth
Quarter
 
Full
Year
For the year ended December 31, 2019:
 
 
 
 
 
 
 
 
 
Merger related costs (4)
$
(0.01
)
 
$
—

 
$
—

 
$
—

 
$
(0.01
)
Merger related intangible asset amortization (5)
(0.64
)
 
(0.64
)
 
(0.63
)
 
(0.60
)
 
(2.48
)
Impact on depreciation related to acquired fleet and property and equipment (6)
(0.14
)
 
(0.12
)
 
(0.07
)
 
(0.05
)
 
(0.39
)
Impact of the fair value mark-up of acquired fleet (7)
(0.25
)
 
(0.15
)
 
(0.14
)
 
(0.16
)
 
(0.72
)
Restructuring charge (8)
(0.07
)
 
(0.06
)
 
(0.02
)
 
(0.03
)
 
(0.18
)
Asset impairment charge (9)
(0.01
)
 
(0.03
)
 
(0.02
)
 
0.01

 
(0.05
)
Loss on extinguishment of debt securities and amendment of ABL facility
—

 
(0.30
)
 
—

 
(0.28
)
 
(0.58
)
For the year ended December 31, 2018:
 
 
 
 
 
 
 
 
 
Merger related costs (4)
$
(0.01
)
 
$
(0.02
)
 
$
(0.09
)
 
$
(0.21
)
 
$
(0.32
)
Merger related intangible asset amortization (5)
(0.39
)
 
(0.37
)
 
(0.42
)
 
(0.58
)
 
(1.76
)
Impact on depreciation related to acquired fleet and property and equipment (6)
(0.09
)
 
(0.08
)
 
(0.02
)
 
—

 
(0.19
)
Impact of the fair value mark-up of acquired fleet (7)
(0.21
)
 
(0.15
)
 
(0.11
)
 
(0.11
)
 
(0.59
)
Restructuring charge (8)
(0.02
)
 
(0.03
)
 
(0.09
)
 
(0.15
)
 
(0.28
)

 
(4)
This reflects transaction costs associated with the NES and Neff acquisitions that were completed in 2017, and the BakerCorp and BlueLine acquisitions discussed in note 4 to our consolidated financial statements.
(5)
This reflects the amortization of the intangible assets acquired in the RSC, National Pump, NES, Neff, BakerCorp and BlueLine acquisitions.
(6)
This reflects the impact of extending the useful lives of equipment acquired in the RSC, NES, Neff, BakerCorp and BlueLine acquisitions, net of the impact of additional depreciation associated with the fair value mark-up of such equipment.
(7)
This reflects additional costs recorded in cost of rental equipment sales associated with the fair value mark-up of rental equipment acquired in the RSC, NES, Neff and BlueLine acquisitions and subsequently sold.
(8)
As discussed in note 6 to our consolidated financial statements, this primarily reflects severance costs and branch closure charges associated with our restructuring programs.
(9)
This reflects write-offs of leasehold improvements and other fixed assets.