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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues:    
Total revenues $ 3,719 $ 3,485
Cost of revenues:    
Cost of equipment rentals, excluding depreciation 1,378 1,244
Depreciation of rental equipment 637 582
Total cost of revenues 2,363 2,139
Gross profit 1,356 1,346
Selling, general and administrative expenses 437 389
Restructuring charge 1 1
Non-rental depreciation and amortization 114 104
Operating income 804 852
Interest expense, net 184 160
Other income, net (68) (3)
Income before provision for income taxes 688 695
Provision for income taxes 170 153
Net income $ 518 $ 542
Basic earnings per share (in dollars per share) $ 7.92 $ 8.06
Diluted earnings per share (in dollars per share) $ 7.91 $ 8.04
Equipment rentals    
Revenues:    
Total revenues $ 3,145 $ 2,929
Sales of rental equipment    
Revenues:    
Total revenues 377 383
Cost of revenues:    
Cost of goods and services sold 210 196
Sales of new equipment    
Revenues:    
Total revenues 70 48
Cost of revenues:    
Cost of goods and services sold 56 38
Contractor supplies sales    
Revenues:    
Total revenues 36 36
Cost of revenues:    
Cost of goods and services sold 26 25
Service and other revenues    
Revenues:    
Total revenues 91 89
Cost of revenues:    
Cost of goods and services sold $ 56 $ 54