| RENTAL EQUIPMENT, NET Rental equipment, net, consist of the following (In millions): | | | | | | | | Rental equipment ................................................................................................... | | | | Installed telematics tracker devices ........................................................................ | | | | Total rental equipment ........................................................................................... | | | | Less: accumulated depreciation ............................................................................. | | | | Rental equipment, net ............................................................................................ | | | |
The Company recognized depreciation expense of $300 million, $293 million, and $280 million for the years ended December 31, 2025, 2024, and 2023, respectively, included within depreciation and amortization as a component of cost of revenues on the consolidated statements of net income. PROPERTY AND OTHER FIXED ASSETS, NETProperty and other fixed assets, net, consist of the following (In millions): | | | | | | | | Furniture, fixtures, office equipment and other ..................................................... | | | | Leasehold improvements ....................................................................................... | | | | Buildings and improvements ................................................................................. | | | | Construction in progress ........................................................................................ | | | | Land ....................................................................................................................... | | | | Total property and other fixed assets ..................................................................... | | | | Less: accumulated depreciation ............................................................................. | | | | Total property and other fixed assets, net ......................................................... | | | |
The Company recognized depreciation expense of $42 million, $27 million, and $9 million for the years ended December 31, 2025, 2024, and 2023, respectively, included in selling, general and administrative expenses on the consolidated statements of net income.
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