Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Financial Information by Segment

The following tables set forth financial information by segment.


	General rentals		Specialty		Total
Three Months Ended September 30, 2024
Equipment rentals	$	2,327	$	1,136	$	3,463
Sales of rental equipment	274		47		321
Sales of new equipment	36		41		77
Contractor supplies sales	22		16		38
Service and other revenues	86		7		93
Total revenue	2,745		1,247		3,992
Depreciation and amortization expense	568		170		738
Equipment rentals gross profit	874		568		1,442
Three Months Ended September 30, 2023
Equipment rentals	$	2,307	$	917	$	3,224
Sales of rental equipment	320		46		366
Sales of new equipment	24		28		52
Contractor supplies sales	23		16		39
Service and other revenues	78		6		84
Total revenue	2,752		1,013		3,765
Depreciation and amortization expense	580		115		695
Equipment rentals gross profit	872		478		1,350
Nine Months Ended September 30, 2024
Equipment rentals	$	6,606	$	3,001	$	9,607
Sales of rental equipment	933		136		1,069
Sales of new equipment	92		94		186
Contractor supplies sales	65		51		116
Service and other revenues	248		24		272
Total revenue	7,944		3,306		11,250
Depreciation and amortization expense	1,683		458		2,141
Equipment rentals gross profit	2,357		1,473		3,830
Capital expenditures (1)	2,738		815		3,553
Nine Months Ended September 30, 2023
Equipment rentals	$	6,514	$	2,431	$	8,945
Sales of rental equipment	1,012		124		1,136
Sales of new equipment	66		100		166
Contractor supplies sales	67		43		110
Service and other revenues	225		22		247
Total revenue	7,884		2,720		10,604
Depreciation and amortization expense	1,737		347		2,084
Equipment rentals gross profit	2,323		1,203		3,526
Capital expenditures (1)	2,663		682		3,345

___________________

(1)The condensed consolidated statements of cash flows include the payments for capital expenditures, while the table above reflects the gross capital expenditures. Accounts payable as of September 30, 2024 and December 31, 2023 included $183 and $74, respectively, of amounts due but unpaid for purchases of rental equipment. The net impact of accrued purchases of rental equipment was not material for the nine months ended September 30, 2023.


	September 30, 2024		December 31, 2023
Total reportable segment assets
General rentals	$	21,176	$	20,411
Specialty (1)	7,236		5,178
Total assets	$	28,412	$	25,589

___________________

(1)The increase in the specialty segment assets includes the impact of the Yak acquisition discussed in note 3 to the condensed consolidated financial statements.

Schedule of 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				Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
Total equipment rentals gross profit	$	1,442	$	1,350	$	3,830	$	3,526
Gross profit from other lines of business	206		235		682		725
Selling, general and administrative expenses	(416)		(374)		(1,209)		(1,134)

Restructuring charge (1)	(1)		(5)		(3)		(24)
Non-rental depreciation and amortization	(109)		(107)		(322)		(329)
Interest expense, net	(178)		(163)		(511)		(474)

Other income, net	5		7		12		19
Income before provision for income taxes	$	949	$	943	$	2,479	$	2,309

___________________

(1)Primarily reflects severance and branch closure charges associated with our restructuring programs. The restructuring charges generally involve the closure of a large number of branches over a short period of time, often in periods following a major acquisition. The amounts above primarily reflect charges associated with the restructuring program initiated following the December 2022 acquisition of Ahern Rentals, Inc. As of September 30, 2024, there were no open restructuring programs.