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10-Q Filing

UNITED RENTALS, INC. CIK: 1067701 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0001067701-18-000015
Period End Date 20180331
Filing Date 20180418
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance uri-20180331.xml
Balance Sheet 66 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $67.00M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $68.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $312.00M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $278.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $337.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $352.00M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 500.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 500.00M shares Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $67 at March 31, 2018 and $68 at December 31, 2017 AccountsReceivableNetCurrent $1.23B USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $67 at March 31, 2018 and $68 at December 31, 2017 AccountsReceivableNetCurrent $1.15B USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 112.39M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 112.84M shares Point-in-time
Inventory InventoryNet $84.00M USD Point-in-time
Inventory InventoryNet $75.00M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 83.92M shares Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $112.00M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 84.46M shares Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $74.00M USD Point-in-time
Treasury stock, shares TreasuryStockShares 28.93M shares Point-in-time
Total current assets AssetsCurrent $1.77B USD Point-in-time
Treasury stock, shares TreasuryStockShares 27.93M shares Point-in-time
Total current assets AssetsCurrent $1.59B USD Point-in-time
Rental equipment, net PropertySubjectToOrAvailableForOperatingLeaseNet $7.82B USD Point-in-time
Rental equipment, net PropertySubjectToOrAvailableForOperatingLeaseNet $7.68B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $467.00M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $467.00M USD Point-in-time
Goodwill Goodwill $4.12B USD Point-in-time
Goodwill Goodwill $4.08B USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $875.00M USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $825.00M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $13.00M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $10.00M USD Point-in-time
Total assets Assets $14.69B USD Point-in-time
Total assets Assets $15.03B USD Point-in-time
Short-term debt and current maturities of long-term debt DebtCurrent $726.00M USD Point-in-time
Short-term debt and current maturities of long-term debt DebtCurrent $723.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $513.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $409.00M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrent $402.00M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesCurrent $536.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.64B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.67B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $8.41B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $8.72B USD Point-in-time
Deferred taxes DeferredIncomeTaxLiabilitiesNet $1.42B USD Point-in-time
Deferred taxes DeferredIncomeTaxLiabilitiesNet $1.46B USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $122.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $120.00M USD Point-in-time
Total liabilities Liabilities $11.63B USD Point-in-time
Total liabilities Liabilities $11.92B USD Point-in-time
Common stock$0.01 par value, 500,000,000 shares authorized, 112,844,860 and 83,919,748 shares issued and outstanding, respectively, at March 31, 2018 and 112,394,395 and 84,463,662 shares issued and outstanding, respectively, at December 31, 2017 CommonStockValue $1.00M USD Point-in-time
Common stock$0.01 par value, 500,000,000 shares authorized, 112,844,860 and 83,919,748 shares issued and outstanding, respectively, at March 31, 2018 and 112,394,395 and 84,463,662 shares issued and outstanding, respectively, at December 31, 2017 CommonStockValue $1.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $2.36B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $2.33B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $3.00B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $3.19B USD Point-in-time
Treasury stock at cost28,925,112 and 27,930,733 shares at March 31, 2018 and December 31, 2017, respectively TreasuryStockValue $2.10B USD Point-in-time
Treasury stock at cost28,925,112 and 27,930,733 shares at March 31, 2018 and December 31, 2017, respectively TreasuryStockValue $2.28B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-151.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-176.00M USD Point-in-time
Total stockholders equity (deficit) StockholdersEquity $3.11B USD Point-in-time
Total stockholders equity (deficit) StockholdersEquity $3.06B USD Point-in-time
Total liabilities and stockholders equity (deficit) LiabilitiesAndStockholdersEquity $14.69B USD Point-in-time
Total liabilities and stockholders equity (deficit) LiabilitiesAndStockholdersEquity $15.03B USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Equipment rentals EquipmentRentalsRevenue $1.17B USD 1 Quarter
Equipment rentals EquipmentRentalsRevenue $1.46B USD 1 Quarter
Service and other revenues MaintenanceRevenue $34.00M USD 1 Quarter
Service and other revenues MaintenanceRevenue $27.00M USD 1 Quarter
Total revenues SalesRevenueNet $1.73B USD 1 Quarter
Total revenues SalesRevenueNet $1.36B USD 1 Quarter
Cost of equipment rentals, excluding depreciation DirectCostsOfLeasedAndRentedPropertyOrEquipment $474.00M USD 1 Quarter
Cost of equipment rentals, excluding depreciation DirectCostsOfLeasedAndRentedPropertyOrEquipment $592.00M USD 1 Quarter
Depreciation of rental equipment OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease $322.00M USD 1 Quarter
Depreciation of rental equipment OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease $248.00M USD 1 Quarter
Cost of service and other revenues CostOfServicesMaintenanceCosts $13.00M USD 1 Quarter
Cost of service and other revenues CostOfServicesMaintenanceCosts $18.00M USD 1 Quarter
Total cost of revenues CostOfRevenue $1.09B USD 1 Quarter
Total cost of revenues CostOfRevenue $842.00M USD 1 Quarter
Gross profit GrossProfit $646.00M USD 1 Quarter
Gross profit GrossProfit $514.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $193.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $232.00M USD 1 Quarter
Merger related costs BusinessCombinationAcquisitionRelatedCosts $2.00M USD 1 Quarter
Merger related costs BusinessCombinationAcquisitionRelatedCosts $1.00M USD 1 Quarter
Restructuring charge RestructuringCharges - USD 1 Quarter
Restructuring charge RestructuringCharges $2.00M USD 1 Quarter
Non-rental depreciation and amortization DepreciationAndAmortization $62.00M USD 1 Quarter
Non-rental depreciation and amortization DepreciationAndAmortization $71.00M USD 1 Quarter
Operating (loss) income OperatingIncomeLoss $340.00M USD 1 Quarter
Operating (loss) income OperatingIncomeLoss $257.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-94.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-109.00M USD 1 Quarter
Other (income) expense, net OtherNonoperatingIncomeExpense $1.00M USD 1 Quarter
Other (income) expense, net OtherNonoperatingIncomeExpense $-2.00M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $161.00M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $232.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $52.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $49.00M USD 1 Quarter
Net income NetIncomeLoss $183.00M USD 1 Quarter
Net income NetIncomeLoss $109.00M USD 1 Quarter
Basic earnings per share (in dollars per share) EarningsPerShareBasic $2.18 USD 1 Quarter
Basic earnings per share (in dollars per share) EarningsPerShareBasic $1.29 USD 1 Quarter
Diluted earnings per share (in dollars per share) EarningsPerShareDiluted $2.15 USD 1 Quarter
Diluted earnings per share (in dollars per share) EarningsPerShareDiluted $1.27 USD 1 Quarter
Cash Flow Statement 76 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $183.00M USD 1 Quarter
Net income NetIncomeLoss $109.00M USD 1 Quarter
Depreciation and amortization DepreciationandAmortizationExcludingFinancingCostsandDiscounts $393.00M USD 1 Quarter
Depreciation and amortization DepreciationandAmortizationExcludingFinancingCostsandDiscounts $310.00M USD 1 Quarter
Amortization of deferred financing costs and original issue discounts AmortizationOfFinancingCostsAndDiscounts $2.00M USD 1 Quarter
Amortization of deferred financing costs and original issue discounts AmortizationOfFinancingCostsAndDiscounts $3.00M USD 1 Quarter
Gain on sales of rental equipment GainLossOnSaleOfPropertySubjectToOrAvailableForOperatingLeaseNet $74.00M USD 1 Quarter
Gain on sales of rental equipment GainLossOnSaleOfPropertySubjectToOrAvailableForOperatingLeaseNet $46.00M USD 1 Quarter
Gain on sales of non-rental equipment GainLossOnSaleOfPropertyPlantEquipment $1.00M USD 1 Quarter
Gain on sales of non-rental equipment GainLossOnSaleOfPropertyPlantEquipment $1.00M USD 1 Quarter
Gain on insurance proceeds from damaged equipment GainLossRelatedToLitigationSettlement $1.00M USD 1 Quarter
Gain on insurance proceeds from damaged equipment GainLossRelatedToLitigationSettlement $2.00M USD 1 Quarter
Stock compensation expense, net ShareBasedCompensation $19.00M USD 1 Quarter
Stock compensation expense, net ShareBasedCompensation $16.00M USD 1 Quarter
Merger related costs BusinessCombinationAcquisitionRelatedCosts $2.00M USD 1 Quarter
Merger related costs BusinessCombinationAcquisitionRelatedCosts $1.00M USD 1 Quarter
Restructuring charge RestructuringCharges - USD 1 Quarter
Restructuring charge RestructuringCharges $2.00M USD 1 Quarter
Increase in deferred taxes DeferredIncomeTaxExpenseBenefit $37.00M USD 1 Quarter
Increase in deferred taxes DeferredIncomeTaxExpenseBenefit $10.00M USD 1 Quarter
Decrease in accounts receivable IncreaseDecreaseInAccountsReceivable $-80.00M USD 1 Quarter
Decrease in accounts receivable IncreaseDecreaseInAccountsReceivable $-65.00M USD 1 Quarter
Increase in inventory IncreaseDecreaseInInventories $6.00M USD 1 Quarter
Increase in inventory IncreaseDecreaseInInventories $9.00M USD 1 Quarter
Decrease in prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-9.00M USD 1 Quarter
Decrease in prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-42.00M USD 1 Quarter
Increase in accounts payable IncreaseDecreaseInAccountsPayable $139.00M USD 1 Quarter
Increase in accounts payable IncreaseDecreaseInAccountsPayable $103.00M USD 1 Quarter
(Decrease) increase in accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilities $-135.00M USD 1 Quarter
(Decrease) increase in accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilities $14.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $622.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $642.00M USD 1 Quarter
Purchases of rental equipment PaymentsToAcquirePropertySubjectToOrAvailableForOperatingLease $280.00M USD 1 Quarter
Purchases of rental equipment PaymentsToAcquirePropertySubjectToOrAvailableForOperatingLease $219.00M USD 1 Quarter
Purchases of non-rental equipment PaymentsToAcquirePropertyPlantAndEquipment $22.00M USD 1 Quarter
Purchases of non-rental equipment PaymentsToAcquirePropertyPlantAndEquipment $33.00M USD 1 Quarter
Proceeds from sales of rental equipment ProceedsFromSaleOfPropertySubjectToOrAvailableForOperatingLease $181.00M USD 1 Quarter
Proceeds from sales of rental equipment ProceedsFromSaleOfPropertySubjectToOrAvailableForOperatingLease $106.00M USD 1 Quarter
Proceeds from sales of non-rental equipment ProceedsFromSaleOfPropertyPlantAndEquipment $4.00M USD 1 Quarter
Proceeds from sales of non-rental equipment ProceedsFromSaleOfPropertyPlantAndEquipment $2.00M USD 1 Quarter
Insurance proceeds from damaged equipment ProceedsFromInsuranceSettlementInvestingActivities $2.00M USD 1 Quarter
Insurance proceeds from damaged equipment ProceedsFromInsuranceSettlementInvestingActivities $1.00M USD 1 Quarter
Purchases of other companies, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Purchases of other companies, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $52.00M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $1.00M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments - USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-133.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-178.00M USD 1 Quarter
Proceeds from debt ProceedsFromIssuanceOfDebt $1.50B USD 1 Quarter
Proceeds from debt ProceedsFromIssuanceOfDebt $2.26B USD 1 Quarter
Payments of debt RepaymentsOfDebtAndCapitalLeaseObligations $1.94B USD 1 Quarter
Payments of debt RepaymentsOfDebtAndCapitalLeaseObligations $2.56B USD 1 Quarter
Proceeds from the exercise of common stock options ProceedsFromStockOptionsExercised $1.00M USD 1 Quarter
Proceeds from the exercise of common stock options ProceedsFromStockOptionsExercised $1.00M USD 1 Quarter
Common stock repurchased PaymentsForRepurchaseOfCommonStock $23.00M USD 1 Quarter
Common stock repurchased PaymentsForRepurchaseOfCommonStock $226.00M USD 1 Quarter
Payments of financing costs PaymentsOfFinancingCosts - USD 1 Quarter
Payments of financing costs PaymentsOfFinancingCosts $7.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-532.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-466.00M USD 1 Quarter
Effect of foreign exchange rates EffectOfExchangeRateOnCashAndCashEquivalents $2.00M USD 1 Quarter
Effect of foreign exchange rates EffectOfExchangeRateOnCashAndCashEquivalents $-6.00M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $25.00M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-74.00M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $312.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $278.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $337.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $352.00M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $312.00M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $278.00M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $337.00M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $352.00M USD Point-in-time
Cash paid for income taxes, net IncomeTaxesPaidNet $10.00M USD 1 Quarter
Cash paid for income taxes, net IncomeTaxesPaidNet $1.00M USD 1 Quarter
Cash paid for interest InterestPaid $153.00M USD 1 Quarter
Cash paid for interest InterestPaid $90.00M USD 1 Quarter
Stockholders Equity 8 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $3.11B USD Point-in-time
Balance StockholdersEquity $3.06B USD Point-in-time
Net income NetIncomeLoss $183.00M USD 1 Quarter
Net income NetIncomeLoss $109.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $9.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-25.00M USD 1 Quarter
Balance StockholdersEquity $3.11B USD Point-in-time
Balance StockholdersEquity $3.06B USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Reclassifications from accumulated other comprehensive income reflected in other comprehensive income ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent - USD 1 Quarter
Net income NetIncomeLoss $183.00M USD 1 Quarter
Reclassifications from accumulated other comprehensive income reflected in other comprehensive income ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent - USD 1 Quarter
Net income NetIncomeLoss $109.00M USD 1 Quarter
Tax impact related to foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent - USD 1 Quarter
Tax impact related to foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent - USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $9.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-25.00M USD 1 Quarter
Taxes associated with other comprehensive income OtherComprehensiveIncomeLossTaxPortionAttributableToParent1 - USD 1 Quarter
Taxes associated with other comprehensive income OtherComprehensiveIncomeLossTaxPortionAttributableToParent1 - USD 1 Quarter
Fixed price diesel swaps OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent - USD 1 Quarter
Fixed price diesel swaps OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent $-1.00M USD 1 Quarter
Other comprehensive (loss) income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $8.00M USD 1 Quarter
Other comprehensive (loss) income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-25.00M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $117.00M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $158.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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