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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ 99 $ (23)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation of rental equipment 739 613
Depreciation of property and equipment 97 77
Amortization of intangible assets 125 71
Amortization of deferred debt and financing obligations costs 9 6
Stock-based compensation charges 22 28
Provision for receivables allowances 79 58
Loss on assets held for sale 0 48
Deferred taxes 4 2
Gain on sale of rental equipment (70) (66)
Other 13 11
Changes in assets and liabilities, net of effects from acquisitions:    
Receivables (260) (59)
Other assets 11 (19)
Accounts payable (22) 10
Accrued liabilities and other long-term liabilities 105 13
Net cash provided by operating activities 951 770
Cash flows from investing activities:    
Rental equipment expenditures (1,056) (835)
Proceeds from disposal of rental equipment 319 306
Non-rental capital expenditures (107) (123)
Proceeds from disposal of property and equipment 26 15
Acquisitions, net of cash acquired 0 (4,256)
Proceeds from disposal of business, net 0 99
Net cash used in investing activities (818) (4,794)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 0 3,467
Repayments of long-term debt (6) 0
Proceeds from revolving lines of credit and securitization 1,688 3,928
Repayments on revolving lines of credit and securitization (1,709) (3,299)
Principal payments under finance lease and financing obligations (18) (16)
Payment of debt issuance costs 0 (10)
Dividends paid (71) (64)
Net settlement on vesting of equity awards (9) (8)
Proceeds from employee stock purchase plan 6 4
Net cash provided by (used in) financing activities (119) 4,002
Effect of foreign exchange rate changes on cash and cash equivalents 0 0
Net change in cash and cash equivalents during the period 14 (22)
Cash and cash equivalents at beginning of period 52 83
Cash and cash equivalents at end of period 66 61
Supplemental disclosure of cash flow information:    
Cash paid for interest 313 202
Cash paid for income taxes, net 10 18
Supplemental disclosure of non-cash investing activity:    
Purchases of rental equipment in accounts payable 252 66
Non-rental capital expenditures in accounts payable 0 2
Disposal of rental equipment in accounts receivable 0 31
Supplemental disclosure of non-cash investing and financing activity:    
Issuance of common stock for H&E acquisition 0 584
Equipment acquired through finance lease $ 24 $ 10