Segment Information (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Financial information by segment

The following tables set forth financial information by segment.  

	General rentals		Specialty		Total
Three Months Ended June 30, 2021
Equipment rentals	$	1,466	$	485	$	1,951
Sales of rental equipment	166		28		194
Sales of new equipment	38		19		57
Contractor supplies sales	18		9		27
Service and other revenues	50		8		58
Total revenue	1,738		549		2,287
Depreciation and amortization expense	392		83		475
Equipment rentals gross profit	526		225		751
Three Months Ended June 30, 2020
Equipment rentals	$	1,255	$	387	$	1,642
Sales of rental equipment	158		18		176
Sales of new equipment	45		8		53
Contractor supplies sales	15		8		23
Service and other revenues	39		6		45
Total revenue	1,512		427		1,939
Depreciation and amortization expense	401		89		490
Equipment rentals gross profit	419		181		600
Six Months Ended June 30, 2021
Equipment rentals	$	2,739	$	879	$	3,618
Sales of rental equipment	413		48		461
Sales of new equipment	80		26		106
Contractor supplies sales	34		17		51
Service and other revenues	94		14		108
Total revenue	3,360		984		4,344
Depreciation and amortization expense	772		169		941
Equipment rentals gross profit	937		391		1,328
Capital expenditures	1,116		145		1,261
Six Months Ended June 30, 2020
Equipment rentals	$	2,649	$	776	$	3,425
Sales of rental equipment	348		36		384
Sales of new equipment	98		17		115
Contractor supplies sales	31		17		48
Service and other revenues	80		12		92
Total revenue	3,206		858		4,064
Depreciation and amortization expense	838		178		1,016
Equipment rentals gross profit	867		343		1,210
Capital expenditures	377		78		455

	June 30, 2021		December 31, 2020
Total reportable segment assets
General rentals	$	15,587	$	15,051
Specialty (1)	4,054		2,817
Total assets	$	19,641	$	17,868

  ___________________

(1)The increase in the specialty segment assets primarily reflects the impact of the General Finance acquisition discussed in note 3 to the condensed consolidated financial statements.

Reconciliation to equipment rentals gross profit

The following is a reconciliation of equipment rentals gross profit to income before provision for income taxes:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Total equipment rentals gross profit	$	751	$	600	$	1,328	$	1,210
Gross profit from other lines of business	124		101		261		218
Selling, general and administrative expenses	(301)		(222)		(551)		(489)
Merger related costs (1)	(3)		—		(3)		—
Restructuring charge (2)	—		(3)		(1)		(5)
Non-rental depreciation and amortization	(90)		(95)		(181)		(195)
Interest expense, net	(100)		(130)		(199)		(266)
Other (expense) income, net	(4)		—		(2)		4
Income before provision for income taxes	$	377	$	251	$	652	$	477

 ___________________

(1)Reflects transaction costs associated with the General Finance acquisition discussed in note 3 to the condensed consolidated financial statements. Merger related costs only include costs associated with major acquisitions that significantly impact our operations. For additional information, see "Management’s Discussion and Analysis of Financial Condition and Results of Operations-Results of Operations-Other costs/(income)-merger related costs" below.

(2)Primarily reflects severance and branch closure charges associated with our restructuring programs. For additional information, see note 5 to our condensed consolidated financial statements.