v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenues:        
Total revenues $ 4,893 $ 4,229 $ 13,288 $ 11,891
Cost of revenues:        
Cost of equipment rentals, excluding depreciation 1,760 1,530 4,896 4,351
Depreciation of rental equipment 742 684 2,127 1,972
Total cost of revenues 2,847 2,564 8,041 7,337
Gross profit 2,046 1,665 5,247 4,554
Selling, general and administrative expenses 511 442 1,424 1,301
Restructuring charge 15 0 66 1
Non-rental depreciation and amortization 111 109 341 331
Operating income 1,409 1,114 3,416 2,921
Interest expense, net 184 178 538 533
Other income, net (6) (1) (61) (76)
Income before provision for income taxes 1,231 937 2,939 2,464
Provision for income taxes 311 236 735 623
Net income $ 920 $ 701 $ 2,204 $ 1,841
Basic earnings per share (in dollars per share) $ 14.79 $ 10.93 $ 35.24 $ 28.42
Diluted earnings per share (in dollars per share) $ 14.77 $ 10.91 $ 35.19 $ 28.37
Equipment rentals        
Revenues:        
Total revenues $ 4,316 $ 3,665 $ 11,584 $ 10,225
Sales of rental equipment        
Revenues:        
Total revenues 348 333 1,028 1,027
Cost of revenues:        
Cost of goods and services sold 192 186 558 567
Sales of new equipment        
Revenues:        
Total revenues 84 95 254 240
Cost of revenues:        
Cost of goods and services sold 66 75 204 192
Contractor supplies sales        
Revenues:        
Total revenues 47 43 131 120
Cost of revenues:        
Cost of goods and services sold 29 32 87 86
Service and other revenues        
Revenues:        
Total revenues 98 93 291 279
Cost of revenues:        
Cost of goods and services sold $ 58 $ 57 $ 169 $ 169