CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
ASSETS
Cash and cash equivalents	$ 306	$ 407
Accounts receivable, net ($20 and $36, respectively, due from related parties)	748	563
Inventories	401	331
Prepaid costs	169	42
Other current assets	106	64
Total current assets	1,730	1,407
Rental equipment, net	2,834	2,335
Property and other fixed assets, net	504	339
Capitalized software, net	110	92
Right of use assets, operating	676	569
Investments in non-consolidated affiliates	59	54
Intangible assets, net	31	3
Other assets	43	17
Total assets	5,987	4,816
LIABILITIES, PERPETUAL PREFERRED STOCK, AND EQUITY
Accounts payable ($0.3 and $1, respectively, due to related parties)	95	91
Accrued liabilities ($4 due to related parties in 2024)	609	344
Manufacturer flooring plans payable	74	108
Current portion of long-term debt	4	19
Current portion of operating lease liabilities	69	59
Current portion of finance lease liabilities	19	17
Current portion of financing obligations	10	20
Total current liabilities	880	658
Long-term debt, net of current portion, original issue discounts, and debt issuance costs	3,268	2,528
Operating lease liabilities, net of current portion ($5 and $25, respectively, due to related parties)	655	555
Finance lease liabilities, net of current portion ($28 and $29, respectively, due to related parties)	169	71
Financing obligations, net of current portion	83	99
Deferred tax liabilities, net	43	31
Other liabilities	1	1
Total liabilities	5,099	3,943
Perpetual preferred stock, net - $0.00000125 par value, 15 shares authorized, 14 and 14 shares issued and outstanding at December 31, 2025 and 2024, respectively	360	324
Common stock - $0.00000125 par value, 273 shares authorized, 79 and 78 shares issued and outstanding at December 31, 2025 and 2024, respectively	0	0
Convertible preferred stock, net - $0.00000125 par value, 149 shares authorized, 142 and 142 shares issued and outstanding at December 31, 2025 and 2024, respectively	430	430
Treasury stock, at cost, 5 and 5 shares at December 31, 2025 and 2024, respectively	(7)	(7)
Additional paid-in-capital	105	114
Retained earnings	0	8
Accumulated other comprehensive income	0	4
Total equity	528	549
Total liabilities, perpetual preferred stock, and equity	$ 5,987	$ 4,816