v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Total revenues $ 1,002 $ 848 $ 1,863 $ 1,652
Expenses:        
Direct operating 379 326 706 633
Depreciation of rental equipment 195 165 367 325
Cost of sales of rental equipment 86 45 162 91
Cost of sales of new equipment, parts and supplies 10 6 18 12
Selling, general and administrative 127 117 245 229
Transaction expenses 73 3 147 6
Non-rental depreciation and amortization 45 30 78 59
Interest expense, net 86 63 148 124
Loss on assets held for sale 49 0 49 0
Other expense (income), net (2) 0 (3) (1)
Total expenses 1,048 755 1,917 1,478
Income (loss) before income taxes (46) 93 (54) 174
Income tax benefit (provision) 11 (23) 1 (39)
Net income (loss) $ (35) $ 70 $ (53) $ 135
Weighted average shares outstanding:        
Basic (in shares) 30.0 28.4 29.2 28.3
Diluted (in shares) 30.0 28.5 29.2 28.4
Earnings (loss) per share:        
Basic (in USD per share) $ (1.17) $ 2.46 $ (1.82) $ 4.77
Diluted (in USD per share) $ (1.17) $ 2.46 $ (1.82) $ 4.75
Equipment rental        
Revenues:        
Total revenues $ 870 $ 765 $ 1,609 $ 1,484
Sales of rental equipment        
Revenues:        
Total revenues 106 65 211 134
Sales of new equipment, parts and supplies        
Revenues:        
Total revenues 17 10 28 19
Service and other revenue        
Revenues:        
Total revenues $ 9 $ 8 $ 15 $ 15