v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 53 $ 83
Receivables, net of allowances of $17 and $22, respectively 778 589
Prepaid expenses 63 47
Other current assets 26 40
Assets held for sale 23 17
Total current assets 943 776
Rental equipment, net 6,015 4,225
Property and equipment, net 865 554
Right-of-use lease assets 1,475 852
Intangible assets, net 1,622 572
Goodwill 2,901 670
Other long-term assets 17 8
Assets held for sale 180 220
Total assets 14,018 7,877
Current liabilities:    
Current maturities of long-term debt and financing obligations 28 21
Current maturities of operating lease liabilities 55 39
Accounts payable 325 248
Accrued liabilities 391 239
Liabilities held for sale 19 15
Total current liabilities 818 562
Long-term debt, net 8,251 4,069
Financing obligations, net 98 101
Operating lease liabilities 1,454 842
Deferred tax liabilities 1,377 800
Other long-term liabilities 53 47
Liabilities held for sale 56 60
Total liabilities 12,107 6,481
Commitments and contingencies (Note 13)
Equity:    
Preferred stock, $0.01 par value, 13.3 shares authorized, no shares issued and outstanding 0 0
Common stock, $0.01 par value, 133.3 shares authorized, 38.1 and 33.3 shares issued and 33.2 and 28.4 shares outstanding 0 0
Additional paid-in capital 2,423 1,832
Retained earnings 540 633
Accumulated other comprehensive loss (125) (142)
Treasury stock, at cost, 4900000 shares and 4900000 shares (927) (927)
Total equity 1,911 1,396
Total liabilities and equity $ 14,018 $ 7,877