Revenue Recognition (Tables)

3 Months Ended

Jul. 31, 2026

In the following table, revenue is summarized by type and by the applicable accounting standard.


	Three Months Ended July 31,
	2026						2025
(In millions)	Topic 842		Topic 606		Total		Topic 842		Topic 606		Total
Revenues:
Equipment rentals	$	2,319	$	—	$	2,319	$	2,100	$	—	$	2,100
Other rental revenue:
Delivery and pick-up	—		257		257		—		230		230
Other	95		256		351		90		181		271
Total equipment rentals	2,414		513		2,927		2,190		411		2,601
Sales of rental equipment	—		85		85		—		103		103
Sales of new equipment, merchandise and consumables	—		103		103		—		97		97
Total revenues	$	2,414	$	701	$	3,115	$	2,190	$	611	$	2,801

The roll-forward of the allowance for credit losses is shown below.


	Three Months Ended July 31,
(In millions)		2026		2025
Beginning balance		$	105	$	102
Amounts written off or recovered		(4)		(4)
Increase in allowance recognized		18		15
Ending balance		$	119	$	113