Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Equipment rental revenue by equipment type

The following table presents the percentage of equipment rental revenue by equipment type for the years ended December 31, 2023, 2022 and 2021:


	Year Ended December 31,
	2023		2022		2021
Primarily rented by our general rentals segment:
General construction and industrial equipment	42	%	42	%	42	%
Aerial work platforms	25	%	24	%	26	%
General tools and light equipment	8	%	8	%	8	%
Primarily rented by our specialty segment:
Power and HVAC equipment	10	%	10	%	9	%
Trench safety equipment	5	%	6	%	6	%
Fluid solutions equipment	7	%	7	%	7	%
Mobile storage equipment and modular office space	3	%	3	%	2	%

Financial information by segment

The following table sets forth financial information by segment as of, and for the years ended, December 31, 2023, 2022 and 2021:


	General rentals		Specialty		Total
2023
Equipment rentals	$	8,803	$	3,261	$	12,064
Sales of rental equipment	1,411		163		1,574
Sales of new equipment	95		123		218
Contractor supplies sales	89		57		146
Service and other revenues	299		31		330
Total revenue	10,697		3,635		14,332
Depreciation and amortization expense	2,316		465		2,781
Equipment rentals gross profit	3,219		1,595		4,814
Capital expenditures	3,051		813		3,864
Total assets	$	20,411	$	5,178	$	25,589
2022
Equipment rentals	$	7,345	$	2,771	$	10,116
Sales of rental equipment	835		130		965
Sales of new equipment	73		81		154
Contractor supplies sales	81		45		126
Service and other revenues	250		31		281
Total revenue	8,584		3,058		11,642
Depreciation and amortization expense	1,765		452		2,217
Equipment rentals gross profit	2,905		1,340		4,245
Capital expenditures	2,868		822		3,690
Total assets	$	19,604	$	4,579	$	24,183
2021
Equipment rentals	$	6,074	$	2,133	$	8,207
Sales of rental equipment	862		106		968
Sales of new equipment	142		61		203
Contractor supplies sales	71		38		109
Service and other revenues	202		27		229
Total revenue	7,351		2,365		9,716
Depreciation and amortization expense	1,611		372		1,983
Equipment rentals gross profit	2,269		998		3,267
Capital expenditures	2,719		479		3,198
Total assets	$	16,087	$	4,205	$	20,292

Reconciliation of segment operating income to total Company operating income

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


	Year Ended December 31,
	2023		2022		2021
Total equipment rentals gross profit	$	4,814	$	4,245	$	3,267
Gross profit from other lines of business	999		751		586
Selling, general and administrative expenses	(1,527)		(1,400)		(1,199)
Merger related costs (1)	—		—		(3)
Restructuring charge (2)	(28)		—		(2)
Non-rental depreciation and amortization	(431)		(364)		(372)
Interest expense, net	(635)		(445)		(424)

Other income (expense), net	19		15		(7)
Income before provision for income taxes	$	3,211	$	2,802	$	1,846

___________________

(1)Reflects transaction costs associated with the General Finance acquisition that was completed in May 2021. Merger related costs only include costs associated with major acquisitions that significantly impact our operations.

(2)Primarily relates to branch closure charges and severance costs associated with our restructuring programs. As of December 31, 2023, there were no open restructuring programs.

Geographic area information

The following table presents geographic area information for the years ended December 31, 2023, 2022 and 2021, except for balance sheet information, which is presented as of December 31, 2023 and 2022:


	Domestic		Foreign		Total
2023
Equipment rentals	$	11,045	$	1,019	$	12,064
Sales of rental equipment	1,427		147		1,574
Sales of new equipment	168		50		218
Contractor supplies sales	130		16		146
Service and other revenues	293		37		330
Total revenue	13,063		1,269		14,332
Rental equipment, net	12,679		1,322		14,001
Property and equipment, net	842		61		903
Goodwill and other intangible assets, net	$	6,031	$	579	$	6,610
2022
Equipment rentals	$	9,139	$	977	$	10,116
Sales of rental equipment	870		95		965
Sales of new equipment	122		32		154
Contractor supplies sales	109		17		126
Service and other revenues	248		33		281
Total revenue	10,488		1,154		11,642
Rental equipment, net	12,047		1,230		13,277
Property and equipment, net	789		50		839
Goodwill and other intangible assets, net	$	6,024	$	454	$	6,478
2021
Equipment rentals	$	7,430	$	777	$	8,207
Sales of rental equipment	873		95		968
Sales of new equipment	162		41		203
Contractor supplies sales	95		14		109
Service and other revenues	201		28		229
Total revenue	$	8,761	$	955	$	9,716