v3.26.1
Rental Equipment, Net
 12 Months Ended
Apr. 30, 2026
Property, Plant and Equipment [Abstract]  
Rental Equipment, Net Rental Equipment, Net
Rental equipment consists of the following:
April 30,
(In millions)20262025
Rental equipment$19,231 $18,567 
Less: accumulated depreciation(8,007)(7,227)
Rental equipment, net$11,224 $11,340 
Amounts due but unpaid for purchases of rental equipment was $387 million and $225 million as of April 30, 2026 and 2025, respectively. These balances are included in “Accounts payable” and “Accrued expenses and other liabilities” in the consolidated balance sheet. Amounts receivable but unpaid for sales of rental equipment was $122 million and $99 million as of April 30, 2026 and 2025, respectively. These balances are included in “Accounts receivable, net of allowance for credit losses.”
Property and Equipment, net
Property, plant and equipment, net consists of the following:
April 30,
(In millions)20262025
Land and buildings
$
1,367 
$
1,252 
Motor vehicles
1,613 
1,541 
Office and workshop equipment
594 
548 
Property and equipment$3,574 $3,341 
Less: accumulated depreciation
(1,511)
(1,303)
Property and equipment, net$2,063 $2,038 
Depreciation expense was $323 million, $301 million and $258 million for the years ended April 30, 2026, 2025 and 2024, respectively, and is included in “Non-rental depreciation and amortization” in the Company’s consolidated statements of income.