Adoption of the new lease standard impacted our previously reported Consolidated Condensed Statements of Earnings and Comprehensive Income results as follows (in millions, except per share amounts):



	Three months ended March 31, 2018

	As Previously		Lessor		Lessee and Other
	Reported		Adjustments ⁽¹⁾		Adjustments ⁽¹⁾		As Revised
Lease & related maintenance and rental revenues	$	824.3	0.5		0.3		825.0
Total revenues	1,903.5		0.5		0.3		1,904.2
Cost of lease & related maintenance and rental	619.2		(3.6	)	—		615.6
Cost of services ⁽²⁾	787.2		—		1.5		788.8
Other operating expenses	33.5		—		(0.5	)	33.0
Selling, general and administrative expenses ⁽²⁾	208.6		(0.4	)	(0.4	)	207.8
Interest expense	37.8		—		0.4		38.2
Restructuring and other items, net ⁽²⁾	16.0		—		(0.9	)	15.1
Earnings from continuing operations before income taxes	48.1		4.5		0.1		52.7
Provision for income taxes	14.2		1.2		—		15.4
Earnings from continuing operations	33.9		3.3		0.1		37.3
Net earnings	33.5		3.3		0.1		36.9

Comprehensive income	51.0		3.4		—		54.3

Earnings per common share - Basic
Continuing operations	$	0.65	0.06		—		0.71
Net earnings	$	0.64	0.06		—		0.70

Earnings per common share - Diluted
Continuing operations	$	0.64	0.06		—		0.70
Net earnings	$	0.63	0.06		—		0.70

————————————

(1)

Amounts include the correction of a prior period error. The primary components of the error correction are a reduction of "Lease & related maintenance and rental revenues" of approximately $4.7 million and an offsetting reduction in depreciation expense (included in "Cost of lease & related maintenance and rental") of approximately $4.7 million. We determined certain lessor arrangements of revenue earning equipment historically accounted for as operating leases should have been accounted for as direct financing leases. Additionally, we evaluated our leases for classification and determined that certain lessee arrangements, primarily real estate leases, historically accounted for as operating leases should have been accounted for as capital leases. We concluded these errors were not material to any of our previously issued consolidated financial statements.


(2)	Adjustments primarily reflects the reclassification of our Singapore operations into "Restructuring and other items, net," that we will shut down during 2019.

Note: Amounts may not be additive due to rounding.

Adoption of the new lease standard impacted our previously reported Consolidated Condensed Balance Sheet as follows (in millions):



	December 31, 2018

	As Previously			Lessor		Lessee
	Reported			Adjustments ⁽¹⁾		Adjustments ⁽¹⁾		As Revised
Receivables, net	$	1,219.4		22.6		—		1,242.1
Prepaid expenses and other current assets	201.6			(23.3	)	—		178.3
Total current assets	1,568.4			(0.7	)	—		1,567.7
Revenue earning equipment, net	9,498.0			(84.2	)	2.2		9,416.0
Operating property and equipment, net	843.8			—		18.2		862.1
Sales-type leases and other assets	606.6			156.8		204.3		967.8
Total assets	13,051.1			72.0		224.7		13,347.8
Short-term debt and current portion of long term-debt	930.0			—		7.2		937.1
Accrued expenses and other current liabilities	630.5			145.1		72.2		847.7
Total current liabilities	2,292.3			145.1		79.3		2,516.7
Long-term debt	5,693.6			—		18.5		5,712.1
Other non-current liabilities	849.9			421.2		131.5		1,402.6
Deferred income taxes	1,304.8			(124.6	)	(0.5	)	1,179.7
Total liabilities	10,140.8			441.7		228.8		10,811.2
Retained earnings	2,710.7			(369.6	)	(3.8	)	2,337.3
Accumulated other comprehensive loss	(911.3		)	(0.1	)	(0.2	)	(911.6	)
Total shareholders' equity	2,910.3			(369.7	)	(4.1	)	2,536.6
Total liabilities and shareholders' equity	13,051.1			72.0		224.7		13,347.8

————————————

(1)

Amounts include the correction of a prior period error. The primary components of the error correction are an increase in "Receivables, net" of approximately $24 million, an increase in sales-type leases and other assets of approximately $65 million and a reduction in "Revenue earning equipment, net" of $83 million. We determined certain lessor arrangements of revenue earning equipment historically accounted for as operating leases should have been accounted for as direct financing leases. Additionally, we evaluated our leases for classification and determined that certain lessee arrangements, primarily real estate leases, historically accounted for as operating leases should have been accounted for as capital leases. We concluded these errors were not material to any of our previously issued consolidated financial statements.

Note: Amounts may not be additive due to rounding.

Adoption of the new lease standard impacted our previously reported Consolidated Condensed Statements of Cash Flows as follows (in millions):



	Three months ended March 31, 2018
	As Previously Reported		New Lease Standard Adjustments		As Revised
Net earnings	33.5		3.4		36.9
Earnings from continuing operations	33.9		3.4		37.3
Depreciation expense	336.7		(3.9	)	332.8
Amortization expense and other non-cash charges, net	13.6		18.5		32.1
Deferred income tax expense	31.9		1.2		33.1
Collections on sales-type leases and other items	—		21.6		21.6
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(26.0	)	(20.1	)	(46.1	)
Accrued expenses and other non-current liabilities	(95.9	)	1.3		(94.6	)
Net cash provided by operating activities from continuing operations	314.9		22.0		336.9
Debt repaid	(412.1	)	(2.2	)	(414.3	)
Net cash provided by financing activities from continuing operations	231.8		(2.2	)	229.6
Collections on direct finance leases and other items	19.7		(19.7	)	—
Net cash used in investing activities from continuing operations	(553.0	)	(19.7	)	(572.8	)

Note: Amounts may not be additive due to rounding.