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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows From Operating Activities:    
Net income $ 173 $ 175
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 526 499
Amortization of deferred financing costs and original issue discounts 4 4
Gain on sales of rental equipment (83) (67)
Gain on sales of non-rental equipment (1) (2)
Gain on insurance proceeds from damaged equipment (6) (7)
Stock compensation expense, net 13 15
Merger related costs 0 1
Restructuring charge 2 8
Increase in deferred taxes 1 21
Changes in operating assets and liabilities, net of amounts acquired:    
Decrease in accounts receivable 105 73
Decrease (increase) in inventory 5 (9)
(Increase) decrease in prepaid expenses and other assets (30) 12
Increase in accounts payable 33 18
Decrease in accrued expenses and other liabilities (98) (74)
Net cash provided by operating activities 644 667
Cash Flows From Investing Activities:    
Purchases of rental equipment (208) (257)
Purchases of non-rental equipment (53) (42)
Proceeds from sales of rental equipment 208 192
Proceeds from sales of non-rental equipment 9 8
Insurance proceeds from damaged equipment 6 7
Purchases of other companies, net of cash acquired 0 (173)
Purchases of investments (1) 0
Net cash used in investing activities (39) (265)
Cash Flows From Financing Activities:    
Proceeds from debt 2,517 1,427
Payments of debt (2,375) (1,572)
Proceeds from the exercise of common stock options 1 4
Common stock repurchased (276) (243)
Payments of financing costs (9) (9)
Net cash used in financing activities (142) (393)
Effect of foreign exchange rates (2) 0
Net increase in cash and cash equivalents 461 9
Cash and cash equivalents at beginning of period 52 43
Cash and cash equivalents at end of period 513 52
Supplemental disclosure of cash flow information:    
Cash paid for income taxes, net 3 4
Cash paid for interest $ 174 $ 179