v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Total revenues $ 3,943 $ 3,773 $ 7,662 $ 7,258
Cost of revenues:        
Cost of equipment rentals, excluding depreciation 1,443 1,322 2,821 2,566
Depreciation of rental equipment 651 608 1,288 1,190
Total cost of revenues 2,410 2,255 4,773 4,394
Gross profit 1,533 1,518 2,889 2,864
Selling, general and administrative expenses 422 404 859 793
Restructuring charge 0 1 1 2
Non-rental depreciation and amortization 108 109 222 213
Operating income 1,003 1,004 1,807 1,856
Interest expense, net 171 173 355 333
Other income, net (7) (4) (75) (7)
Income before provision for income taxes 839 835 1,527 1,530
Provision for income taxes 217 199 387 352
Net income $ 622 $ 636 $ 1,140 $ 1,178
Basic earnings per share (in dollars per share) $ 9.59 $ 9.56 $ 17.51 $ 17.62
Diluted earnings per share (in dollars per share) $ 9.59 $ 9.54 $ 17.48 $ 17.57
Equipment rentals        
Revenues:        
Total revenues $ 3,415 $ 3,215 $ 6,560 $ 6,144
Sales of rental equipment        
Revenues:        
Total revenues 317 365 694 748
Cost of revenues:        
Cost of goods and services sold 171 192 381 388
Sales of new equipment        
Revenues:        
Total revenues 75 61 145 109
Cost of revenues:        
Cost of goods and services sold 61 49 117 87
Contractor supplies sales        
Revenues:        
Total revenues 41 42 77 78
Cost of revenues:        
Cost of goods and services sold 28 29 54 54
Service and other revenues        
Revenues:        
Total revenues 95 90 186 179
Cost of revenues:        
Cost of goods and services sold $ 56 $ 55 $ 112 $ 109