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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues:    
Revenues $ 2,057 $ 2,125
Cost of revenues:    
Cost of equipment rentals, excluding depreciation 715 747
Depreciation of rental equipment 375 426
Total cost of revenues 1,343 1,398
Gross profit 714 727
Selling, general and administrative expenses 250 267
Restructuring charge 1 2
Non-rental depreciation and amortization 91 100
Operating income (loss) 372 358
Interest expense, net 99 136
Other income, net (2) (4)
Income before provision for income taxes 275 226
Provision for income taxes 72 53
Net income $ 203 $ 173
Basic earnings per share (in dollars per share) $ 2.81 $ 2.33
Diluted earnings per share (in dollars per share) $ 2.80 $ 2.33
Equipment rentals    
Revenues:    
Revenues $ 1,667 $ 1,783
Sales of rental equipment    
Revenues:    
Revenue from contract with customer 267 208
Cost of revenues:    
Cost of goods and services sold 164 125
Sales of new equipment    
Revenues:    
Revenue from contract with customer 49 62
Cost of revenues:    
Cost of goods and services sold 42 54
Contractor supplies sales    
Revenues:    
Revenue from contract with customer 24 25
Cost of revenues:    
Cost of goods and services sold 17 18
Service and other revenues    
Revenues:    
Revenue from contract with customer 50 47
Cost of revenues:    
Cost of goods and services sold $ 30 $ 28