United Rentals North America 10-Q 18 Apr 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 16, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	UNITED RENTALS INC /DE
Entity Central Index Key	1,067,701
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		83,596,643

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 278	$ 352
Accounts receivable, net of allowance for doubtful accounts of $67 at March 31, 2018 and $68 at December 31, 2017	1,154	1,233
Inventory	84	75
Prepaid expenses and other assets	74	112
Total current assets	1,590	1,772
Rental equipment, net	7,678	7,824
Property and equipment, net	467	467
Goodwill	4,115	4,082
Other intangible assets, net	825	875
Other long-term assets	13	10
Total assets	14,688	15,030
LIABILITIES AND STOCKHOLDERS’ EQUITY
Short-term debt and current maturities of long-term debt	726	723
Accounts payable	513	409
Accrued expenses and other liabilities	402	536
Total current liabilities	1,641	1,668
Long-term debt	8,412	8,717
Deferred taxes	1,455	1,419
Other long-term liabilities	122	120
Total liabilities	11,630	11,924
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	1	1
Additional paid-in capital	2,327	2,356
Retained earnings	3,188	3,005
Treasury stock at cost—28,925,112 and 27,930,733 shares at March 31, 2018 and December 31, 2017, respectively	(2,282)	(2,105)
Accumulated other comprehensive loss	(176)	(151)
Total stockholders’ equity (deficit)	3,058	3,106
Total liabilities and stockholders’ equity (deficit)	$ 14,688	$ 15,030

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 67	$ 68
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	112,844,860	112,394,395
Common stock, shares outstanding	83,919,748	84,463,662
Treasury stock, shares	28,925,112	27,930,733

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Equipment rentals	$ 1,459	$ 1,166
Service and other revenues	34	27
Total revenues	1,734	1,356
Cost of revenues:
Cost of equipment rentals, excluding depreciation	592	474
Depreciation of rental equipment	322	248
Cost of service and other revenues	18	13
Total cost of revenues	1,088	842
Gross profit	646	514
Selling, general and administrative expenses	232	193
Merger related costs	1	2
Restructuring charge	2	0
Non-rental depreciation and amortization	71	62
Operating (loss) income	340	257
Interest expense, net	109	94
Other (income) expense, net	(1)	2
Income before provision for income taxes	232	161
Provision for income taxes	49	52
Net income	$ 183	$ 109
Basic earnings per share (in dollars per share)	$ 2.18	$ 1.29
Diluted earnings per share (in dollars per share)	$ 2.15	$ 1.27
Rental equipment
Revenues:
Sales revenue	$ 181	$ 106
Cost of revenues:
Cost of goods sold	107	60
New equipment
Revenues:
Sales revenue	42	39
Cost of revenues:
Cost of goods sold	37	34
Contractor supplies
Revenues:
Sales revenue	18	18
Cost of revenues:
Cost of goods sold	$ 12	$ 13

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income		$ 183	$ 109
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments		(25)	9
Fixed price diesel swaps		0	(1)
Other comprehensive (loss) income		(25)	8
Comprehensive income (loss)	[1]	$ 158	$ 117
[1]	There were no material reclassifications from accumulated other comprehensive loss reflected in other comprehensive income (loss) during 2018 or 2017. There is no tax impact related to the foreign currency translation adjustments, as the earnings are considered permanently reinvested. There were no material taxes associated with other comprehensive income (loss) during 2018 or 2017.

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (Parenthetical) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Reclassifications from accumulated other comprehensive income reflected in other comprehensive income	$ 0	$ 0
Tax impact related to foreign currency translation adjustments	0	0
Taxes associated with other comprehensive income	$ 0	$ 0

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (UNAUDITED) - 3 months ended Mar. 31, 2018 - USD ($) shares in Millions, $ in Millions		Total	Common Stock		Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss	[2]
Balance (shares) at Dec. 31, 2017			84	[1]			(28)
Balance at Dec. 31, 2017		$ 3,106	$ 1		$ 2,356	$ 3,005	$ (2,105)	$ (151)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		183				183
Foreign currency translation adjustments		(25)						(25)
Stock compensation expense, net (in shares)	[1]		1
Stock compensation expense, net					19
Exercise of common stock options					1
Shares repurchased and retired					(49)
Repurchase of common stock (in shares)			(1)	[1]			1
Repurchase of common stock							$ (177)
Balance (shares) at Mar. 31, 2018			84	[1]			(29)
Balance at Mar. 31, 2018		$ 3,058	$ 1		$ 2,327	$ 3,188	$ (2,282)	$ (176)
[1]	Common stock outstanding increased by less than 1 million net shares during the year ended December 31, 2017.
[2]	The Accumulated Other Comprehensive Loss balance primarily reflects foreign currency translation adjustments.

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (UNAUDITED) (Parenthetical) shares in Millions	12 Months Ended
	Dec. 31, 2017shares
Common Stock
Increase in common stock outstanding (in shares, less than)	1

CONDENSED CONSOLIDATED STATEME9

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flows From Operating Activities:
Net income	$ 183	$ 109
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	393	310
Amortization of deferred financing costs and original issue discounts	3	2
Gain on sales of rental equipment	(74)	(46)
Gain on sales of non-rental equipment	(1)	(1)
Gain on insurance proceeds from damaged equipment	(2)	(1)
Stock compensation expense, net	19	16
Merger related costs	1	2
Restructuring charge	2	0
Increase in deferred taxes	37	10
Changes in operating assets and liabilities, net of amounts acquired:
Decrease in accounts receivable	80	65
Increase in inventory	(9)	(6)
Decrease in prepaid expenses and other assets	42	9
Increase in accounts payable	103	139
(Decrease) increase in accrued expenses and other liabilities	(135)	14
Net cash provided by operating activities	642	622
Cash Flows From Investing Activities:
Purchases of rental equipment	(280)	(219)
Purchases of non-rental equipment	(33)	(22)
Proceeds from sales of rental equipment	181	106
Proceeds from sales of non-rental equipment	4	2
Insurance proceeds from damaged equipment	2	1
Purchases of other companies, net of cash acquired	(52)	0
Purchases of investments	0	(1)
Net cash used in investing activities	(178)	(133)
Cash Flows From Financing Activities:
Proceeds from debt	2,256	1,502
Payments of debt	(2,563)	(1,939)
Proceeds from the exercise of common stock options	1	1
Common stock repurchased	(226)	(23)
Payments of financing costs	0	(7)
Net cash used in financing activities	(532)	(466)
Effect of foreign exchange rates	(6)	2
Net (decrease) increase in cash and cash equivalents	(74)	25
Cash and cash equivalents at beginning of period	352	312
Cash and cash equivalents at end of period	278	337
Supplemental disclosure of cash flow information:
Cash paid for income taxes, net	10	1
Cash paid for interest	$ 153	$ 90

Organization, Description of Bu

Organization, Description of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Description of Business and Basis of Presentation	Organization, Description of Business and Basis of Presentation United Rentals, Inc. (“Holdings,” “URI” or the “Company”) is principally a holding company and conducts its operations primarily through its wholly owned subsidiary, United Rentals (North America), Inc. (“URNA”), and subsidiaries of URNA. Holdings’ primary asset is its sole ownership of all issued and outstanding shares of common stock of URNA. URNA’s various credit agreements and debt instruments place restrictions on its ability to transfer funds to its shareholder. We rent equipment to a diverse customer base that includes construction and industrial companies, manufacturers, utilities, municipalities, homeowners and government entities in the United States and Canada. In addition to renting equipment, we sell new and used rental equipment, as well as related contractor supplies, parts and service. We have prepared the accompanying unaudited condensed consolidated financial statements in accordance with the accounting policies described in our annual report on Form 10-K for the year ended December 31, 2017 (the “ 2017 Form 10-K”) and the interim reporting requirements of Form 10-Q. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with the 2017 Form 10-K. In our opinion, all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair presentation of financial condition, operating results and cash flows for the interim periods presented have been made. Interim results of operations are not necessarily indicative of the results of the full year. New Accounting Pronouncements Leases . In March 2016, the Financial Accounting Standards Board (“FASB”) issued guidance ("Topic 842") to increase transparency and comparability among organizations by requiring i) recognition of lease assets and lease liabilities on the balance sheet and ii) disclosure of key information about leasing arrangements. Some changes to the lessor accounting guidance were made to align both of the following: i) the lessor accounting guidance with certain changes made to the lessee accounting guidance and ii) key aspects of the lessor accounting model with revenue recognition guidance. Topic 842 will be effective for fiscal years and interim periods beginning after December 15, 2018, and early adoption is permitted. A modified retrospective approach is required for adoption for all leases that exist at or commence after the date of initial application with an option to use certain practical expedients. We expect to adopt this guidance when effective. As discussed in note 2 to our condensed consolidated financial statements, most of our equipment rental revenues, which accounted for 84 percent of total revenues for the three months ended March 31, 2018 , will be accounted for under the current lease accounting standard ("Topic 840") until the adoption of Topic 842. While our review of the equipment rental revenue accounting under Topic 842 is ongoing, we have tentatively concluded that no significant changes are expected to the accounting for most of our equipment rental revenues upon adoption of Topic 842. Under Topic 842, our operating leases, which include both real estate and non-rental equipment, will result in lease assets and lease liabilities being recognized on the balance sheet. We lease a significant portion of our branch locations, and also lease other premises used for purposes such as district and regional offices and service centers. We expect that the quantification of the amount of the lease assets and lease liabilities that we will recognize on our balance sheet will take a significant amount of time given the size of our lease portfolio. While our review of the lessee accounting requirements of Topic 842 is ongoing, we believe that the impact on our balance sheet, while not currently estimable, will be significant. Measurement of Credit Losses on Financial Instruments. In June 2016, the FASB issued guidance that will require companies to present assets held at amortized cost and available for sale debt securities net of the amount expected to be collected. The guidance requires the measurement of expected credit losses to be based on relevant information from past events, including historical experiences, current conditions and reasonable and supportable forecasts that affect collectibility. The guidance will be effective for fiscal years and interim periods beginning after December 15, 2019 and early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Different components of the guidance require modified retrospective or prospective adoption. We are currently assessing whether we will early adopt, and the impact on our financial statements is not currently estimable as it will depend on market conditions and our forecast expectations upon, and following, adoption. Simplifying the Test for Goodwill Impairment . In January 2017, the FASB issued guidance intended to simplify the subsequent accounting for goodwill acquired in a business combination. Prior guidance required utilizing a two-step process to review goodwill for impairment. A second step was required if there was an indication that an impairment may exist, and the second step required calculating the potential impairment by comparing the implied fair value of the reporting unit's goodwill (as if purchase accounting were performed on the testing date) with the carrying amount of the goodwill. The new guidance eliminates the second step from the goodwill impairment test. Under the new guidance, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount, and then recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value (although the loss should not exceed the total amount of goodwill allocated to the reporting unit). The guidance requires prospective adoption and will be effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption of this guidance is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We expect to adopt this guidance when effective, and do not expect it to have a significant impact on our financial statements. Derivatives and Hedging . In August 2017, the FASB issued guidance with the objective of improving the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements. The guidance is additionally intended to simplify hedge accounting, and no longer requires separate measurement and reporting of hedge ineffectiveness. For cash flow and net investment hedges existing at the date of adoption, entities must apply a cumulative-effect adjustment related to eliminating the separate measurement of ineffectiveness to accumulated other comprehensive income with a corresponding adjustment to the opening balance of retained earnings. The amended presentation and disclosure guidance is required prospectively. The guidance will be effective for fiscal years and interim periods beginning after December 15, 2018, and early adoption is permitted. We are currently assessing whether we will early adopt. Given our currently limited use of derivative instruments, the guidance is not expected to have a significant impact on our financial statements. Guidance Adopted in 2018 Revenue from Contracts with Customers . See note 2 to our condensed consolidated financial statements for a discussion of our revenue recognition accounting following our adoption in the first quarter of 2018 of FASB guidance addressing the principles for recognizing revenue. Statement of Cash Flows. In 2018, we retrospectively adopted guidance that was issued to reduce the diversity in the presentation of certain cash receipts and cash payments presented and classified in the statement of cash flows. The guidance addresses the following specific cash flow issues: (1) debt prepayment or debt extinguishment costs, (2) settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, (3) contingent consideration payments made after a business combination, (4) proceeds from the settlement of insurance claims, (5) proceeds from settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, (6) distributions received from equity method investees, (7) beneficial interests in securitization transitions and (8) separately identifiable cash flows and application of predominance principle. The adoption of this guidance did not have a significant impact on our financial statements for the three months ended March 31, 2018 or 2017 . Intra-Entity Transfers of Assets Other Than Inventory. In 2018, we adopted guidance that requires companies to recognize the income tax effects of intra-entity sales and transfers of assets other than inventory in the period in which the transfer occurs. The adoption of this guidance did not have a significant impact on our financial statements. Clarifying the Definition of a Business . In 2018, we adopted guidance that was issued to clarify the definition of a business with the objective of assisting entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The guidance is intended to make determining when a set of assets and activities is a business more consistent and cost-efficient. The future impact of this guidance will depend on the nature of our future activities, and fewer transactions may be treated as acquisitions (or disposals) of businesses after adoption. Stock Compensation: Scope of Modification Accounting . In 2018, we prospectively adopted guidance that was issued to provide clarity and reduce both the (1) diversity in practice and (2) cost and complexity when changing the terms or conditions of share-based payment awards. Under the updated guidance, a modification is defined as a change in the terms or conditions of a share-based payment award, and an entity should account for the effects of a modification unless all of the following are met: 1. The fair value of the modified award is the same as the fair value of the original award immediately before the original award is modified. If the modification does not affect any of the inputs to the valuation techniques that the entity uses to value the award, the entity is not required to estimate the value immediately before and after the modification. 2. The vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified. 3. The classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. The majority of our modifications relate to the acceleration of vesting conditions. The accounting for such modifications did not change under the adopted guidance, which did not have a significant impact on our financial statements. Tax Cuts and Jobs Act The Tax Cuts and Jobs Act (the "Tax Act") was enacted in December 2017. The Act reduced the U.S. federal corporate tax rate from 35 percent to 21 percent, requires companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred and creates new taxes on certain foreign sourced earnings. As of December 31, 2017, we were able to determine a reasonable estimate of (i) the effects on our existing deferred tax balances and (ii) the one-time transition tax. We recognized a provisional income tax benefit of $ 689 in the year ended December 31, 2017 associated with these items that we reasonably estimated. As of March 31, 2018 , we have not changed the provisional estimates recognized in 2017. The Tax Act subjects U.S. shareholders to a tax on global intangible low-taxed income (“GILTI”) earned by certain foreign subsidiaries. Entities can make an accounting policy election to either recognize deferred taxes for temporary basis differences expected to reverse as GILTI in future years or provide for the tax expense related to GILTI in the year the tax is incurred. Given the complexity of the GILTI provisions, we are still evaluating the tax impact and have not yet made the accounting policy election. As of March 31, 2018 , we were able to reasonably estimate provisional adjustments, based on current year operations only, related to GILTI that we have recognized in our financial statements. In all cases as it relates to the Tax Act, we will continue to refine our calculations as additional analysis is completed and as we gain a more thorough understanding of the tax law. All amounts recognized associated with the Tax Act as of March 31, 2018 are provisional. Given the complexity of the Tax Act, we are still evaluating the tax impact and obtaining the information required to complete the accounting. The date we expect to complete the accounting is not currently determinable while we continue to obtain the information required to complete the accounting. Given the provisional amounts recognized in 2017, and the fact that we have not changed our provisional estimates, the impact of measurement period adjustments was not material during the three months ended March 31, 2018 .

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Revenue Recognition	Revenue Recognition Adoption of Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers” In May 2014, and in subsequent updates, the FASB issued guidance ("Topic 606") to clarify the principles for recognizing revenue. Topic 606 is an update to Topic 605, which was the revenue recognition standard in effect through December 31, 2017. Topic 606 includes the required steps to achieve the core principle that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We adopted Topic 606 on January 1, 2018, using the modified retrospective method. The adoption of Topic 606 did not result in any significant changes to our historic revenue accounting under Topic 605. Results for 2018 are presented under Topic 606, while results for 2017 continue to reflect our historic accounting under Topic 605. Because there were no significant changes to our revenue recognition accounting upon adoption of Topic 606, no changes to our historic financial statements were required, and no cumulative change to retained earnings was required. We applied the Topic 606 practical expedient that allows entities to not restate contracts that begin and are completed within the same annual reporting period. No other practical expedients associated with the adoption of Topic 606 were applied. The only change to our revenue accounting upon adoption of Topic 606 pertains to sales of certain rental equipment. Prior to the adoption of Topic 606, certain sales of rental equipment were deferred until certain contingent future events occurred. Under Topic 606, we are no longer required to defer the revenue. The adoption of Topic 606 results in earlier recognition of certain sales of rental equipment, but it does not impact total annual revenue because the contingencies that previously resulted in deferral under Topic 605 are always resolved within the same calendar year. During the three months ended March 31, 2017 , we recognized $ 106 of sales of rental equipment under Topic 605. Under Topic 606, we would have recognized an additional $ 24 of sales of rental equipment during the three months ended March 31, 2017 . As discussed below, following the adoption of Topic 606, we recognize revenue in accordance with two different accounting standards: 1) Topic 606 and 2) Topic 840 (which addresses lease accounting. As discussed below, we expect to adopt an update to this standard on January 1, 2019). Under Topic 606, revenue from contracts with customers is measured based on the consideration specified in the contract with the customer, and excludes any sales incentives and amounts collected on behalf of third parties. A performance obligation is a promise in a contract to transfer a distinct good or service to a customer, and is the unit of account under Topic 606. We recognize revenue when we satisfy a performance obligation by transferring control over a product or service to a customer. The amount of revenue recognized reflects the consideration we expect to be entitled to in exchange for such products or services. As reflected below, most of our revenue is accounted for under Topic 840. Our contracts with customers generally do not include multiple performance obligations. For contracts with multiple Topic 606 performance obligations, we allocate revenue to each performance obligation using our best estimate of the standalone selling price for each performance obligation. Nature of goods and services In the following table, revenue is summarized by type and by the applicable accounting standard. Three Months Ended March 31, 2018 2017 Topic 840 Topic 606 Total Topic 840 Topic 605 Total Revenues: Owned equipment rentals $ 1,265 $ — $ 1,265 $ 1,009 $ — $ 1,009 Re-rent revenue 25 — 25 21 — 21 Ancillary and other rental revenues: Delivery and pick-up — 92 92 — 76 76 Other 56 21 77 45 15 60 Total ancillary and other rental revenues 56 113 169 45 91 136 Total equipment rentals 1,346 113 1,459 1,075 91 1,166 Sales of rental equipment — 181 181 — 106 106 Sales of new equipment — 42 42 — 39 39 Contractor supplies sales — 18 18 — 18 18 Service and other revenues — 34 34 — 27 27 Total revenues $ 1,346 $ 388 $ 1,734 $ 1,075 $ 281 $ 1,356 Revenues by reportable segment and geographical market are presented in notes 4 and 10 of the condensed consolidated financial statements, respectively, using the revenue captions reflected in our condensed consolidated statements of operations. The majority of our revenue is recognized in our general rentals segment and in the U.S. (for the three months ended March 31, 2018 , 84 percent and 92 percent of total revenues, respectively), and, accordingly, we do not believe that presenting the revenue types above by reportable segment or geographical market would provide information that is material to investors. We believe that the disaggregation of our revenue from contracts to customers as reflected above, coupled with the further discussion below and the reportable segment and geographical market disclosures in notes 4 and 10 , depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Lease revenues (Topic 840) The accounting for the types of revenue that are accounted for under Topic 840 is discussed below. As discussed in note 1 to the condensed consolidated financial statements, we expect to adopt Topic 842, which is an update to Topic 840, on January 1, 2019. While our review of the revenue accounting under Topic 842 is ongoing, we have tentatively concluded that no significant changes are expected to our revenue accounting upon adoption of Topic 842. Owned equipment rentals: Owned equipment rentals represent revenues from renting equipment that we own. We account for such rentals as operating leases. We recognize revenues from renting equipment on a straight-line basis. Our rental contract periods are hourly, daily, weekly or monthly. By way of example, if a customer were to rent a piece of equipment and the daily, weekly and monthly rental rates for that particular piece were (in actual dollars) $100, $300 and $900, respectively, we would recognize revenue of $32.14 per day. The daily rate for recognition purposes is calculated by dividing the monthly rate of $900 by the monthly term of 28 days. This daily rate assumes that the equipment will be on rent for the full 28 days, as we are unsure of when the customer will return the equipment and therefore unsure of which rental contract period will apply. As part of this straight-line methodology, when the equipment is returned, we recognize as incremental revenue the excess, if any, between the amount the customer is contractually required to pay, which is based on the rental contract period applicable to the actual number of days the equipment was out on rent, over the cumulative amount of revenue recognized to date. In any given accounting period, we will have customers return equipment and be contractually required to pay us more than the cumulative amount of revenue recognized to date under the straight-line methodology. For instance, continuing the above example, if the customer rented the above piece of equipment on December 29 and returned it at the close of business on January 1, we would recognize incremental revenue on January 1 of $171.44 (in actual dollars, representing the difference between the amount the customer is contractually required to pay, or $300 at the weekly rate, and the cumulative amount recognized to date on a straight-line basis, or $128.56, which represents four days at $32.14 per day). We record amounts billed to customers in excess of recognizable revenue as deferred revenue on our balance sheet. We had deferred revenue (associated with both Topic 840 and Topic 606/605) of $46 as of March 31, 2018 and December 31, 2017 . Re-rent revenue: Re-rent revenue reflects revenues from equipment that we rent from vendors and then rent to our customers. We account for such rentals as subleases. The accounting for re-rent revenue is the same as the accounting for owned equipment rentals described above. “Other” equipment rental revenue is primarily comprised of 1) Rental Protection Plan (or "RPP") revenue associated with the damage waiver customers can purchase when they rent our equipment to protect against potential loss or damage, 2) environmental charges associated with the rental of equipment, and 3) charges for rented equipment that is damaged by our customers. Revenues from contracts with customers (Topic 606) The accounting for the types of revenue that are accounted for under Topic 606 is discussed below. Substantially all of our revenues under Topic 606 are recognized at a point-in-time rather than over time. Delivery and pick-up: Delivery and pick-up revenue associated with renting equipment is recognized when the service is performed. “Other” equipment rental revenue is primarily comprised of revenues associated with the consumption of fuel by our customers which are recognized when the equipment is returned by the customer (and consumption, if any, can be measured). Sales of rental equipment, new equipment and contractor supplies are recognized at the time of delivery to, or pick-up by, the customer and when collectibility is reasonably assured. Service and other revenues primarily represent revenues earned from providing repair and maintenance services on our customers’ fleet (including parts sales). Service revenue is recognized as the services are performed. Receivables and contract assets and liabilities As reflected above, most of our equipment rental revenue is accounted for under Topic 840 (such revenue represented 78 percent of our total revenues for the three months ended March 31, 2018 ). The customers that are responsible for the remaining revenue that is accounted for under Topic 606 are generally the same customers that rent our equipment. We manage credit risk associated with our accounts receivables at the customer level. Because the same customers generate the revenues that are accounted for under both Topic 606 and Topic 840, the discussions below on credit risk and our allowances for doubtful accounts address our total revenues from Topic 606 (Topic 605 for 2017) and Topic 840. Concentration of credit risk with respect to our receivables is limited because a large number of geographically diverse customers makes up our customer base. Our largest customer accounted for less than one percent of total revenues for the three months ended March 31, 2018 , and for each of the last three full years. Our customer with the largest receivable balance represented approximately one percent of total receivables at March 31, 2018 and December 31, 2017 . We manage credit risk through credit approvals, credit limits and other monitoring procedures. We maintain allowances for doubtful accounts. These allowances reflect our estimate of the amount of our receivables that we will be unable to collect based on historical write-off experience. Our estimate could require change based on changing circumstances, including changes in the economy or in the particular circumstances of individual customers. Accordingly, we may be required to increase or decrease our allowances. Trade receivables that have contractual maturities of one year or less are written-off when they are determined to be uncollectible based on the criteria necessary to qualify as a deduction for federal tax purposes. Write-offs of such receivables require management approval based on specified dollar thresholds. During the three months ended March 31, 2018 and 2017 , we recognized expenses of $6 and $7 and, respectively, primarily within selling, general and administrative expenses in our condensed consolidated statements of income, associated with our allowances for doubtful accounts. We do no t have material contract assets, or impairment losses associated therewith, or material contract liabilities, associated with contracts with customers. Our contracts with customers do not generally result in material amounts billed to customers in excess of recognizable revenue. We did no t recognize material revenue during the three months ended March 31, 2018 or 2017 that was included in the contract liability balance as of the beginning of such periods. Performance obligations Most of our Topic 606 revenue is recognized at a point-in-time, rather than over time. Accordingly, in any particular period, we do not generally recognize a significant amount of revenue from performance obligations satisfied (or partially satisfied) in previous periods, and the amount of such revenue recognized during the three months ended March 31, 2018 and 2017 was no t material. We also do not expect to recognize material revenue in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2018 . Payment terms Our Topic 606 revenues do not include material amounts of variable consideration. Our payment terms vary by the type and location of our customer and the products or services offered. The time between invoicing and when payment is due is not significant. Our contracts do not generally include a significant financing component. For certain products or services and customer types, we require payment before the products or services are delivered to the customer. Our contracts with customers do not generally result in significant obligations associated with returns, refunds or warranties. See above for a discussion of how we manage credit risk. Sales tax amounts collected from customers are recorded on a net basis. Contract costs We do not recognize any assets associated with the incremental costs of obtaining a contract with a customer (for example, a sales commission) that we expect to recover. Most of our revenue is recognized at a point-in-time or over a period of one year or less, and we use the practical expedient that allows us to recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that we otherwise would have recognized is one year or less. Contract estimates and judgments Our revenues accounted for under Topic 606 generally do not require significant estimates or judgments, primarily for the following reasons: • The transaction price is generally fixed and stated on our contracts; • As noted above, our contracts generally do not include multiple performance obligations, and accordingly do not generally require estimates of the standalone selling price for each performance obligation; • Our revenues do not include material amounts of variable consideration; and • Most of our revenue is recognized as of a point-in-time and the timing of the satisfaction of the applicable performance obligations is readily determinable. As noted above, our Topic 606 revenue is generally recognized at the time of delivery to, or pick-up by, the customer. We monitor and review our estimated standalone selling prices on a regular basis.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Acquisitions	Acquisitions NES Acquisition In April 2017, we completed the acquisition of NES Rentals Holdings II, Inc. (“NES”). NES was a provider of rental equipment with 73 branches located throughout the eastern half of the U.S., and had approximately 1,100 employees and approximately $ 900 of rental assets at original equipment cost as of December 31, 2016. NES had annual revenues of approximately $ 369 . The acquisition: • Increased our density in strategically important markets, including the East Coast, Gulf States and the Midwest; • Strengthened our relationships with local and strategic accounts in the construction and industrial sectors, which enhances cross-selling opportunities and drives revenue synergies; and • Created meaningful opportunities for cost synergies in areas such as corporate overhead, operational efficiencies and purchasing. The aggregate consideration paid to holders of NES common stock and options was approximately $960 . The acquisition and related fees and expenses were funded through available cash, drawings on our senior secured asset-based revolving credit facility (“ABL facility”) and new debt issuances. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date. We do not expect material changes to the assigned values. Accounts receivable, net of allowance for doubtful accounts (1) $ 49 Inventory 4 Rental equipment 571 Property and equipment 48 Intangibles (2) 139 Other assets 7 Total identifiable assets acquired 818 Short-term debt and current maturities of long-term debt (3) (3 ) Current liabilities (33 ) Deferred taxes (15 ) Long-term debt (3) (11 ) Other long-term liabilities (5 ) Total liabilities assumed (67 ) Net identifiable assets acquired 751 Goodwill (4) 209 Net assets acquired $ 960 (1) The fair value of accounts receivables acquired was $49 , and the gross contractual amount was $53 . We estimated that $4 would be uncollectible. (2) The following table reflects the estimated fair values and useful lives of the acquired intangible assets identified based on our purchase accounting assessments: Fair value Life (years) Customer relationships $ 138 10 Non-compete agreements 1 1 Total $ 139 (3) The acquired debt reflects capital lease obligations. (4) All of the goodwill was assigned to our general rentals segment. The level of goodwill that resulted from the acquisition is primarily reflective of NES's going-concern value, the value of NES's assembled workforce, new customer relationships expected to arise from the acquisition, and operational synergies that we expect to achieve that would not be available to other market participants. $1 of goodwill is expected to be deductible for income tax purposes. The three months ended March 31, 2018 include immaterial NES acquisition-related costs which are included in “Merger related costs” in our condensed consolidated statements of income. In addition to the acquisition-related costs reflected in our condensed consolidated statements of income, the debt issuance costs and the original issue premiums associated with the issuance of debt to fund the acquisition are reflected, net of amortization subsequent to the acquisition date, in long-term debt in our condensed consolidated balance sheets. Since the acquisition date, significant amounts of fleet have been moved between URI locations and the acquired NES locations, and it is not practicable to reasonably estimate the amounts of revenue and earnings of NES since the acquisition date. The impact of the NES acquisition on our equipment rentals revenue is primarily reflected in the increase in the volume of OEC on rent of 26.1 percent for the three months ended March 31, 2018 (such increase also includes the impact of the acquisition of Neff Corporation ("Neff") discussed below). Neff Acquisition In October 2017, we completed the acquisition of Neff. Neff was a provider of earthmoving, material handling, aerial and other equipment, and had 69 branches located in 14 states, with a concentration in southern geographies. Neff had approximately 1,100 employees and approximately $ 860 of rental assets at original equipment cost as of September 30, 2017. Neff had annual revenues of approximately $ 413 . The acquisition augmented our earthmoving capabilities and efficiencies of scale in key market areas, particularly fast-growing southern geographies, and created opportunities for revenue synergies through the cross-selling of our broader fleet. The aggregate consideration paid to holders of Neff common stock and options was approximately $ 1.316 billion (including $7 of stock consideration associated with Neff stock options and restricted stock units which were converted into United Rentals stock options). The acquisition and related fees and expenses were funded through new debt issuances. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date. We do not expect material changes to the assigned values. Accounts receivable, net of allowance for doubtful accounts (1) $ 72 Inventory 5 Rental equipment 551 Property and equipment 45 Intangibles (customer relationships) (2) 153 Other assets 5 Total identifiable assets acquired 831 Current liabilities (61 ) Deferred taxes (35 ) Other long-term liabilities (3 ) Total liabilities assumed (99 ) Net identifiable assets acquired 732 Goodwill (3) 584 Net assets acquired $ 1,316 (1) The fair value of accounts receivables acquired was $72 , and the gross contractual amount was $74 . We estimated that $2 would be uncollectible. (2) The customer relationships are being amortized over a 10 year life. (3) All of the goodwill was assigned to our general rentals segment. The level of goodwill that resulted from the acquisition is primarily reflective of Neff's going-concern value, the value of Neff's assembled workforce, new customer relationships expected to arise from the acquisition, and operational synergies that we expect to achieve that would not be available to other market participants. $ 12 of goodwill is expected to be deductible for income tax purposes. The three months ended March 31, 2018 includes immaterial Neff acquisition-related costs which are included in “Merger related costs” in our condensed consolidated statements of income. In addition to the acquisition-related costs reflected in our consolidated statements of income, the debt issuance costs and the original issue premiums associated with the issuance of debt to fund the acquisition are reflected, net of amortization subsequent to the acquisition date, in long-term debt in our condensed consolidated balance sheets. Since the acquisition date, significant amounts of fleet have been moved between URI locations and the acquired Neff locations, and it is not practicable to reasonably estimate the amounts of revenue and earnings of Neff since the acquisition date. The impact of the Neff acquisition on our equipment rentals revenue is primarily reflected in the increase in the volume of OEC on rent of 26.1 percent for the three months ended March 31, 2018 (such increase also includes the impact of the acquisition of NES discussed above). Pro forma financial information The pro forma information below gives effect to the NES and Neff acquisitions as if they had been completed on January 1, 2017 (“the pro forma acquisition date”). The pro forma information is not necessarily indicative of our results of operations had the acquisitions been completed on the above date, nor is it necessarily indicative of our future results. The pro forma information does not reflect any cost savings from operating efficiencies or synergies that could result from the acquisitions, and also does not reflect additional revenue opportunities following the acquisitions. The pro forma information includes adjustments to record the assets and liabilities of NES and Neff at their respective fair values based on available information and to give effect to the financing for the acquisitions and related transactions. The pro forma adjustments reflected in the table below are subject to change as additional analysis is performed. The opening balance sheet values assigned to the assets acquired and liabilities assumed are based on preliminary valuations and are subject to change as we obtain additional information during the acquisition measurement periods. Increases or decreases in the estimated fair values of the net assets acquired may impact our statements of income in future periods. We do not expect material changes to the assigned values. The table below presents unaudited pro forma consolidated income statement information as if NES and Neff had been included in our consolidated results for the entire period reflected: Three Months Ended March 31, 2017 United Rentals NES Neff Total Historic/pro forma revenues $ 1,356 $ 81 $ 96 $ 1,533 Historic/combined pretax income (loss) 161 (12 ) 7 156 Pro forma adjustments to pretax income (loss): Impact of fair value mark-ups/useful life changes on depreciation (1) (9 ) (3 ) (12 ) Impact of the fair value mark-up of acquired fleet on cost of rental equipment sales (2) (1 ) — (1 ) Intangible asset amortization (3) (6 ) (7 ) (13 ) Interest expense (4) (9 ) (17 ) (26 ) Elimination of historic interest (5) 12 11 23 Elimination of merger related costs (6) 2 — 2 Restructuring charges (7) (18 ) (14 ) (32 ) Pro forma pretax income $ 97 (1) Depreciation of rental equipment and non-rental depreciation were adjusted for the fair value mark-ups, and the changes in useful lives and salvage values, of the equipment acquired in the NES and Neff acquisitions. (2) Cost of rental equipment sales was adjusted for the fair value mark-ups of rental equipment acquired in the NES and Neff acquisitions. (3) The intangible assets acquired in the NES and Neff acquisitions were amortized. (4) As discussed above, we issued debt to partially fund the NES and Neff acquisitions. Interest expense was adjusted to reflect these changes in our debt portfolio. (5) Historic interest on debt that is not part of the combined entity was eliminated. (6) Merger related costs primarily comprised of financial and legal advisory fees associated with the NES and Neff acquisitions were eliminated as they were assumed to have been recognized prior to the pro forma acquisition date. (7) We expect to recognize restructuring charges primarily comprised of severance costs and branch closure charges associated with the acquisitions over a period of approximately one year following the acquisition dates, which, for the pro forma presentation, was January 1, 2017. The adjustments above reflect the timing of the actual restructuring charges following the acquisitions (the pro forma restructuring charges above for the three months ended March 31, 2017 reflect the actual restructuring charges recognized during the three months following the acquisitions).

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Information	Segment Information Our reportable segments are i) general rentals and ii) trench, power and pump. The general rentals segment includes the rental of i) general construction and industrial equipment, such as backhoes, skid-steer loaders, forklifts, earthmoving equipment and material handling equipment, ii) aerial work platforms, such as boom lifts and scissor lifts and iii) general tools and light equipment, such as pressure washers, water pumps and power tools. The general rentals segment reflects the aggregation of 11 geographic regions—Carolinas, Gulf South, Industrial (which serves the geographic Gulf region and has a strong industrial presence), Mid-Atlantic, Mid Central, Midwest, Northeast, Pacific West, South, Southeast and Western Canada—and operates throughout the United States and Canada. The trench, power and pump segment includes the rental of specialty construction products such as i) trench safety equipment, such as trench shields, aluminum hydraulic shoring systems, slide rails, crossing plates, construction lasers and line testing equipment for underground work, ii) power and HVAC equipment, such as portable diesel generators, electrical distribution equipment, and temperature control equipment and iii) pumps primarily used by municipalities, industrial plants, and mining, construction, and agribusiness customers. The trench, power and pump segment is comprised of the following regions, each of which primarily rents the corresponding equipment type described above: i) the Trench Safety region, ii) the Power and HVAC region, and iii) the Pump Solutions region. The trench, power and pump segment’s customers include construction companies involved in infrastructure projects, municipalities and industrial companies. This segment operates throughout the United States and in Canada. These segments align our external segment reporting with how management evaluates and allocates resources. We evaluate segment performance based on segment equipment rentals gross profit. The following tables set forth financial information by segment. General rentals Trench, power and pump Total Three Months Ended March 31, 2018 Equipment rentals $ 1,201 $ 258 $ 1,459 Sales of rental equipment 171 10 181 Sales of new equipment 37 5 42 Contractor supplies sales 14 4 18 Service and other revenues 30 4 34 Total revenue 1,453 281 1,734 Depreciation and amortization expense 337 56 393 Equipment rentals gross profit 426 119 545 Capital expenditures 267 46 313 Three Months Ended March 31, 2017 Equipment rentals $ 977 $ 189 $ 1,166 Sales of rental equipment 96 10 106 Sales of new equipment 35 4 39 Contractor supplies sales 14 4 18 Service and other revenues 24 3 27 Total revenue 1,146 210 1,356 Depreciation and amortization expense 264 46 310 Equipment rentals gross profit 360 84 444 Capital expenditures 211 30 241 March 31, December 31, Total reportable segment assets General rentals $ 13,032 $ 13,351 Trench, power and pump 1,656 1,679 Total assets $ 14,688 $ 15,030 Equipment rentals gross profit is the primary measure management reviews to make operating decisions and assess segment performance. The following is a reconciliation of equipment rentals gross profit to income before provision for income taxes: Three Months Ended March 31, 2018 2017 Total equipment rentals gross profit $ 545 $ 444 Gross profit from other lines of business 101 70 Selling, general and administrative expenses (232 ) (193 ) Merger related costs (1 ) (2 ) Restructuring charge (2 ) — Non-rental depreciation and amortization (71 ) (62 ) Interest expense, net (109 ) (94 ) Other income (expense), net 1 (2 ) Income before provision for income taxes $ 232 $ 161

Restructuring Charges

Restructuring Charges	3 Months Ended
	Mar. 31, 2018
Restructuring and Related Activities [Abstract]
Restructuring Charges	Restructuring Charges Restructuring Charges Restructuring charges primarily include severance costs associated with headcount reductions, as well as branch closure charges which principally relate to continuing lease obligations at vacant facilities. We incur severance costs and branch closure charges in the ordinary course of our business. We only include such costs that are part of a restructuring program as restructuring charges. Since the first such restructuring program was initiated in 2008, we have completed three restructuring programs and have incurred total restructuring charges of $286 . Closed Restructuring Programs We have three closed restructuring programs. The first was initiated in 2008 in recognition of a challenging economic environment and was completed in 2011. The second was initiated following the April 30, 2012 acquisition of RSC Holdings Inc. ("RSC"), and was completed in 2013. The third was initiated in the fourth quarter of 2015 in response to challenges in our operating environment. In particular, during 2015, we experienced volume and pricing pressure in our general rental business and our Pump Solutions region associated with upstream oil and gas customers. Additionally, our Lean initiatives did not fully generate the anticipated cost savings due to lower than expected growth. In 2016, we achieved the anticipated run rate savings from the Lean initiatives, and this restructuring program was completed in 2016. NES/Neff/Project XL Restructuring Program In the second quarter of 2017, we initiated a restructuring program following the closing of the NES acquisition discussed in note 3 to the condensed consolidated financial statements. The restructuring program also includes actions undertaken associated with Project XL, which is a set of eight specific work streams focused on driving profitable growth through revenue opportunities and generating incremental profitability through cost savings across our business, and the Neff acquisition that is discussed in note 3 to the condensed consolidated financial statements. We expect to complete the restructuring program in the first half of 2018, and do not expect to incur significant additional expenses in connection with the program. The table below provides certain information concerning restructuring activity during the three months ended March 31, 2018 : Reserve Balance at Charged to Payments Reserve Balance at December 31, 2017 March 31, 2018 Closed Restructuring Programs Branch closure charges $ 13 $ — $ (2 ) $ 11 Severance and other — — — — Total $ 13 $ — $ (2 ) $ 11 NES/Neff/Project XL Restructuring Program Branch closure charges $ 8 $ — $ (2 ) $ 6 Severance and other 12 2 (6 ) 8 Total $ 20 $ 2 $ (8 ) $ 14 Total Branch closure charges $ 21 $ — $ (4 ) $ 17 Severance and other 12 2 (6 ) 8 Total $ 33 $ 2 $ (10 ) $ 25 _________________ (1) Reflected in our condensed consolidated statements of income as “Restructuring charge.” These charges are not allocated to our reportable segments.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements As of March 31, 2018 and December 31, 2017 , the amounts of our assets and liabilities that were accounted for at fair value were immaterial. Fair value measurements are categorized in one of the following three levels based on the lowest level input that is significant to the fair value measurement in its entirety: Level 1- Inputs to the valuation methodology are unadjusted quoted prices in active markets for identical assets or liabilities. Level 2- Observable inputs other than quoted prices in active markets for identical assets or liabilities include: a) quoted prices for similar assets or liabilities in active markets; b) quoted prices for identical or similar assets or liabilities in inactive markets; c) inputs other than quoted prices that are observable for the asset or liability; d) inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. Level 3- Inputs to the valuation methodology are unobservable (i.e., supported by little or no market activity) and significant to the fair value measure. Fair Value of Financial Instruments The carrying amounts reported in our condensed consolidated balance sheets for accounts receivable, accounts payable and accrued expenses and other liabilities approximate fair value due to the immediate to short-term maturity of these financial instruments. The fair values of our ABL facility, accounts receivable securitization facility and capital leases approximated their book values as of March 31, 2018 and December 31, 2017 . The estimated fair values of our financial instruments, all of which are categorized in Level 1 of the fair value hierarchy, as of March 31, 2018 and December 31, 2017 have been calculated based upon available market information, and were as follows: March 31, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value Senior notes $ 7,008 $ 7,108 $ 7,008 $ 7,340

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	Debt Debt, net of unamortized original issue discounts or premiums, and unamortized debt issuance costs, consists of the following: March 31, 2018 December 31, 2017 Accounts Receivable Securitization Facility expiring 2018 (1) $ 699 $ 695 $3.0 billion ABL Facility expiring 2021 (2) 1,365 1,670 4 5 / 8 percent Senior Secured Notes due 2023 992 992 5 3 / 4 percent Senior Notes due 2024 841 841 5 1 / 2 percent Senior Notes due 2025 793 793 4 5 / 8 percent Senior Notes due 2025 740 740 5 7 / 8 percent Senior Notes due 2026 998 998 5 1 / 2 percent Senior Notes due 2027 991 990 4 7 / 8 percent Senior Notes due 2028 (3) 1,649 1,648 4 7 / 8 percent Senior Notes due 2028 (3) 4 6 Capital leases 66 67 Total debt 9,138 9,440 Less short-term portion (4) (726 ) (723 ) Total long-term debt $ 8,412 $ 8,717 ___________________ (1) At March 31, 2018 , $67 was available under our accounts receivable securitization facility. The interest rate applicable to the accounts receivable securitization facility was 2.6 percent at March 31, 2018 . During the three months ended March 31, 2018 , the monthly average principal amount outstanding under the accounts receivable securitization facility was $710 , and the weighted-average interest rate thereon was 2.5 percent . The maximum month-end principal amount outstanding under the accounts receivable securitization facility during the three months ended March 31, 2018 was $720 . Borrowings under the accounts receivable securitization facility are permitted only to the extent that the face amount of the receivables in the collateral pool, net of applicable reserves and other deductions, exceeds the outstanding loans. As of March 31, 2018 , there were $ 767 of receivables, net of applicable reserves and other deductions, in the collateral pool. (2) At March 31, 2018 , $1.590 billion was available under our ABL facility, net of $37 of letters of credit. The interest rate applicable to the ABL facility was 3.2 percent at March 31, 2018 . During the three months ended March 31, 2018 , the monthly average principal amount outstanding under the ABL facility was $1.265 billion, and the weighted-average interest rate thereon was 3.1 percent . The maximum month-end principal amount outstanding under the ABL facility during the three months ended March 31, 2018 was $1.373 billion . (3) URNA separately issued 4 7 / 8 percent Senior Notes in August 2017 and in September 2017. Following the issuances, we consummated an exchange offer pursuant to which most of the 4 7 / 8 percent Senior Notes issued in September 2017 were exchanged for additional notes fungible with the 4 7 / 8 percent Senior Notes issued in August 2017. (4) As of March 31, 2018 , our short-term debt primarily reflects $ 699 of borrowings under our accounts receivable securitization facility. Loan Covenants and Compliance As of March 31, 2018 , we were in compliance with the covenants and other provisions of the ABL facility, the accounts receivable securitization facility and the senior notes. Any failure to be in compliance with any material provision or covenant of these agreements could have a material adverse effect on our liquidity and operations. The only financial maintenance covenant that currently exists under the ABL facility is the fixed charge coverage ratio. Subject to certain limited exceptions specified in the ABL facility, the fixed charge coverage ratio covenant under the ABL facility will only apply in the future if specified availability under the ABL facility falls below 10 percent of the maximum revolver amount under the ABL facility. When certain conditions are met, cash and cash equivalents and borrowing base collateral in excess of the ABL facility size may be included when calculating specified availability under the ABL facility. As of March 31, 2018 , specified availability under the ABL facility exceeded the required threshold and, as a result, this financial maintenance covenant was inapplicable. Under our accounts receivable securitization facility, we are required, among other things, to maintain certain financial tests relating to: (i) the default ratio, (ii) the delinquency ratio, (iii) the dilution ratio and (iv) days sales outstanding. The accounts receivable securitization facility also requires us to comply with the fixed charge coverage ratio under the ABL facility, to the extent the ratio is applicable under the ABL facility.

Legal and Regulatory Matters

Legal and Regulatory Matters	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Legal and Regulatory Matters	Legal and Regulatory Matters We are subject to a number of claims and proceedings that generally arise in the ordinary course of our business. These matters include, but are not limited to, general liability claims (including personal injury, property and auto claims), indemnification and guarantee obligations, employee injuries and employment-related claims, self-insurance obligations, contract and real estate matters, and other general business litigation. Based on advice of counsel and available information, including current status or stage of proceeding, and taking into account accruals for matters where we have established them, we currently believe that any liabilities ultimately resulting from such claims and proceedings will not, individually or in the aggregate, have a material adverse effect on our consolidated financial condition, results of operations or cash flows.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing net income available to common stockholders by the weighted-average number of common shares plus the effect of dilutive potential common shares outstanding during the period. Net income and earnings per share for 2018 reflect lower effective tax rates due to the enactment of the Tax Act in December 2017, as discussed further below (see "Management’s Discussion and Analysis of Financial Condition and Results of Operations-Results of Operations-Other costs/(income)"). The following table sets forth the computation of basic and diluted earnings per share (shares in thousands): Three Months Ended March 31, 2018 2017 Numerator: Net income available to common stockholders 183 109 Denominator: Denominator for basic earnings per share—weighted-average common shares 84,256 84,456 Effect of dilutive securities: Employee stock options 417 414 Restricted stock units 565 507 Denominator for diluted earnings per share—adjusted weighted-average common shares 85,238 85,377 Basic earnings per share $ 2.18 $ 1.29 Diluted earnings per share $ 2.15 $ 1.27

Condensed Consolidating Financi

Condensed Consolidating Financial Information of Guarantor Subsidiaries	3 Months Ended
	Mar. 31, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Information of Guarantor Subsidiaries	Condensed Consolidating Financial Information of Guarantor Subsidiaries URNA is 100 percent owned by Holdings (“Parent”) and has certain outstanding indebtedness that is guaranteed by both Parent and, with the exception of its U.S. special purpose vehicle which holds receivable assets relating to the Company’s accounts receivable securitization facility (the “SPV”), all of URNA’s U.S. subsidiaries (the “guarantor subsidiaries”). Other than the guarantee by certain Canadian subsidiaries of URNA's indebtedness under the ABL facility, none of URNA’s indebtedness is guaranteed by URNA's foreign subsidiaries or the SPV (together, the “non-guarantor subsidiaries”). The receivable assets owned by the SPV have been sold or contributed by URNA to the SPV and are not available to satisfy the obligations of URNA or Parent’s other subsidiaries. The guarantor subsidiaries are all 100 percent -owned and the guarantees are made on a joint and several basis. The guarantees are not full and unconditional because a guarantor subsidiary can be automatically released and relieved of its obligations under certain circumstances, including sale of the guarantor subsidiary, the sale of all or substantially all of the guarantor subsidiary's assets, the requirements for legal defeasance or covenant defeasance under the applicable indenture being met, designating the guarantor subsidiary as an unrestricted subsidiary for purposes of the applicable covenants or, other than with respect to the guarantees of the 5 3 / 4 percent Senior Notes due 2024, the notes being rated investment grade by both Standard & Poor’s Ratings Services and Moody’s Investors Service, Inc., or, in certain circumstances, another rating agency selected by URNA. The guarantees are also subject to subordination provisions (to the same extent that the obligations of the issuer under the relevant notes are subordinated to other debt of the issuer) and to a standard limitation which provides that the maximum amount guaranteed by each guarantor will not exceed the maximum amount that can be guaranteed without making the guarantee void under fraudulent conveyance laws. Based on our understanding of Rule 3-10 of Regulation S-X ("Rule 3-10"), we believe that the guarantees of the guarantor subsidiaries comply with the conditions set forth in Rule 3-10 and therefore continue to utilize Rule 3-10 to present condensed consolidating financial information for Holdings, URNA, the guarantor subsidiaries and the non-guarantor subsidiaries. Separate consolidated financial statements of the guarantor subsidiaries have not been presented because management believes that such information would not be material to investors. However, condensed consolidating financial information is presented. URNA covenants in the ABL facility, accounts receivable securitization facility and the other agreements governing our debt impose operating and financial restrictions on URNA, Parent and the guarantor subsidiaries, including limitations on the ability to make share repurchases and dividend payments. As of March 31, 2018 , the amount available for distribution under the most restrictive of these covenants was $ 900 . The Company’s total available capacity for making share repurchases and dividend payments includes the intercompany receivable balance of Parent. As of March 31, 2018 , our total available capacity for making share repurchases and dividend payments, which includes URNA’s capacity to make restricted payments and the intercompany receivable balance of Parent, was $1.882 billion . The condensed consolidating financial information of Parent and its subsidiaries is as follows: CONDENSED CONSOLIDATING BALANCE SHEET March 31, 2018 Parent URNA Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Foreign SPV ASSETS Cash and cash equivalents $ — $ 49 $ — $ 229 $ — $ — $ 278 Accounts receivable, net — 69 — 109 976 — 1,154 Intercompany receivable (payable) 982 (878 ) (92 ) (12 ) — — — Inventory — 76 — 8 — — 84 Prepaid expenses and other assets — 73 — 1 — — 74 Total current assets 982 (611 ) (92 ) 335 976 — 1,590 Rental equipment, net — 7,140 — 538 — — 7,678 Property and equipment, net 42 351 34 40 — — 467 Investments in subsidiaries 2,051 1,154 1,065 — — (4,270 ) — Goodwill — 3,855 — 260 — — 4,115 Other intangible assets, net — 781 — 44 — — 825 Other long-term assets 6 7 — — — — 13 Total assets $ 3,081 $ 12,677 $ 1,007 $ 1,217 $ 976 $ (4,270 ) $ 14,688 LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) Short-term debt and current maturities of long-term debt $ 1 $ 24 $ — $ 2 $ 699 $ — $ 726 Accounts payable — 470 — 43 — — 513 Accrued expenses and other liabilities — 354 14 32 2 — 402 Total current liabilities 1 848 14 77 701 — 1,641 Long-term debt 1 8,294 114 3 — — 8,412 Deferred taxes 21 1,362 — 72 — — 1,455 Other long-term liabilities — 122 — — — — 122 Total liabilities 23 10,626 128 152 701 — 11,630 Total stockholders’ equity (deficit) 3,058 2,051 879 1,065 275 (4,270 ) 3,058 Total liabilities and stockholders’ equity (deficit) $ 3,081 $ 12,677 $ 1,007 $ 1,217 $ 976 $ (4,270 ) $ 14,688 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2017 Parent URNA Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Foreign SPV ASSETS Cash and cash equivalents $ — $ 23 $ — $ 329 $ — $ — $ 352 Accounts receivable, net — 56 — 119 1,058 — 1,233 Intercompany receivable (payable) 887 (677 ) (198 ) (124 ) — 112 — Inventory — 68 — 7 — — 75 Prepaid expenses and other assets 4 219 111 2 — (224 ) 112 Total current assets 891 (311 ) (87 ) 333 1,058 (112 ) 1,772 Rental equipment, net — 7,264 — 560 — — 7,824 Property and equipment, net 41 352 32 42 — — 467 Investments in subsidiaries 2,194 1,148 1,087 — — (4,429 ) — Goodwill — 3,815 — 267 — — 4,082 Other intangible assets, net — 827 — 48 — — 875 Other long-term assets 3 7 — — — — 10 Total assets $ 3,129 $ 13,102 $ 1,032 $ 1,250 $ 1,058 $ (4,541 ) $ 15,030 LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) Short-term debt and current maturities of long-term debt $ 1 $ 25 $ — $ 2 $ 695 $ — $ 723 Accounts payable — 366 — 43 — — 409 Accrued expenses and other liabilities — 477 17 41 1 — 536 Total current liabilities 1 868 17 86 696 — 1,668 Long-term debt 1 8,596 117 3 — — 8,717 Deferred taxes 21 1,324 — 74 — — 1,419 Other long-term liabilities — 120 — — — — 120 Total liabilities 23 10,908 134 163 696 — 11,924 Total stockholders’ equity (deficit) 3,106 2,194 898 1,087 362 (4,541 ) 3,106 Total liabilities and stockholders’ equity (deficit) $ 3,129 $ 13,102 $ 1,032 $ 1,250 $ 1,058 $ (4,541 ) $ 15,030 CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME For the Three Months Ended March 31, 2018 Parent URNA Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Foreign SPV Revenues: Equipment rentals $ — $ 1,346 $ — $ 113 $ — $ — $ 1,459 Sales of rental equipment — 164 — 17 — — 181 Sales of new equipment — 37 — 5 — — 42 Contractor supplies sales — 15 — 3 — — 18 Service and other revenues — 31 — 3 — — 34 Total revenues — 1,593 — 141 — — 1,734 Cost of revenues: Cost of equipment rentals, excluding depreciation — 535 — 57 — — 592 Depreciation of rental equipment — 297 — 25 — — 322 Cost of rental equipment sales — 98 — 9 — — 107 Cost of new equipment sales — 33 — 4 — — 37 Cost of contractor supplies sales — 10 — 2 — — 12 Cost of service and other revenues — 17 — 1 — — 18 Total cost of revenues — 990 — 98 — — 1,088 Gross profit — 603 — 43 — — 646 Selling, general and administrative expenses 40 165 — 19 8 — 232 Merger related costs — 1 — — — — 1 Restructuring charge — 2 — — — — 2 Non-rental depreciation and amortization 4 62 — 5 — — 71 Operating (loss) income (44 ) 373 — 19 (8 ) — 340 Interest (income) expense, net (7 ) 112 1 (1 ) 5 (1 ) 109 Other (income) expense, net (141 ) 161 — 11 (32 ) — (1 ) Income (loss) before provision for income taxes 104 100 (1 ) 9 19 1 232 Provision for income taxes 17 24 — 3 5 — 49 Income (loss) before equity in net earnings (loss) of subsidiaries 87 76 (1 ) 6 14 1 183 Equity in net earnings (loss) of subsidiaries 96 20 6 — — (122 ) — Net income (loss) 183 96 5 6 14 (121 ) 183 Other comprehensive (loss) income (25 ) (25 ) (25 ) (23 ) — 73 (25 ) Comprehensive income (loss) $ 158 $ 71 $ (20 ) $ (17 ) $ 14 $ (48 ) $ 158 CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME For the Three Months Ended March 31, 2017 Parent URNA Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Foreign SPV Revenues: Equipment rentals $ — $ 1,070 $ — $ 96 $ — $ — $ 1,166 Sales of rental equipment — 95 — 11 — — 106 Sales of new equipment — 35 — 4 — — 39 Contractor supplies sales — 16 — 2 — — 18 Service and other revenues — 24 — 3 — — 27 Total revenues — 1,240 — 116 — — 1,356 Cost of revenues: Cost of equipment rentals, excluding depreciation — 423 — 51 — — 474 Depreciation of rental equipment — 227 — 21 — — 248 Cost of rental equipment sales — 54 — 6 — — 60 Cost of new equipment sales — 31 — 3 — — 34 Cost of contractor supplies sales — 12 — 1 — — 13 Cost of service and other revenues — 11 — 2 — — 13 Total cost of revenues — 758 — 84 — — 842 Gross profit — 482 — 32 — — 514 Selling, general and administrative expenses 23 145 — 17 8 — 193 Merger related costs — 2 — — — — 2 Non-rental depreciation and amortization 4 52 — 6 — — 62 Operating (loss) income (27 ) 283 — 9 (8 ) — 257 Interest (income) expense, net (2 ) 93 1 1 2 (1 ) 94 Other (income) expense, net (112 ) 124 — 12 (22 ) — 2 Income (loss) before provision (benefit) for income taxes 87 66 (1 ) (4 ) 12 1 161 Provision (benefit) for income taxes 21 28 — (2 ) 5 — 52 Income (loss) before equity in net earnings (loss) of subsidiaries 66 38 (1 ) (2 ) 7 1 109 Equity in net earnings (loss) of subsidiaries 43 5 (2 ) — — (46 ) — Net income (loss) 109 43 (3 ) (2 ) 7 (45 ) 109 Other comprehensive income (loss) 8 8 8 7 — (23 ) 8 Comprehensive income (loss) $ 117 $ 51 $ 5 $ 5 $ 7 $ (68 ) $ 117 CONDENSED CONSOLIDATING CASH FLOW INFORMATION For the Three Months Ended March 31, 2018 Parent URNA Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Foreign SPV Net cash provided by (used in) operating activities $ 5 $ 626 $ (1 ) $ (84 ) $ 96 $ — $ 642 Net cash used in investing activities (5 ) (164 ) — (9 ) — — (178 ) Net cash (used in) provided by financing activities — (436 ) 1 (1 ) (96 ) — (532 ) Effect of foreign exchange rates — — — (6 ) — — (6 ) Net increase (decrease) in cash and cash equivalents — 26 — (100 ) — — (74 ) Cash and cash equivalents at beginning of period — 23 — 329 — — 352 Cash and cash equivalents at end of period $ — $ 49 $ — $ 229 $ — $ — $ 278 CONDENSED CONSOLIDATING CASH FLOW INFORMATION For the Three Months Ended March 31, 2017 Parent URNA Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Foreign SPV Net cash provided by (used in) operating activities $ 4 $ 515 $ (1 ) $ 39 $ 65 $ — $ 622 Net cash used in investing activities (4 ) (120 ) — (9 ) — — (133 ) Net cash (used in) provided by financing activities — (402 ) 1 — (65 ) — (466 ) Effect of foreign exchange rates — — — 2 — — 2 Net (decrease) increase in cash and cash equivalents — (7 ) — 32 — — 25 Cash and cash equivalents at beginning of period — 21 — 291 — — 312 Cash and cash equivalents at end of period $ — $ 14 $ — $ 323 $ — $ — $ 337

Organization, Description of 20

Organization, Description of Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Leases . In March 2016, the Financial Accounting Standards Board (“FASB”) issued guidance ("Topic 842") to increase transparency and comparability among organizations by requiring i) recognition of lease assets and lease liabilities on the balance sheet and ii) disclosure of key information about leasing arrangements. Some changes to the lessor accounting guidance were made to align both of the following: i) the lessor accounting guidance with certain changes made to the lessee accounting guidance and ii) key aspects of the lessor accounting model with revenue recognition guidance. Topic 842 will be effective for fiscal years and interim periods beginning after December 15, 2018, and early adoption is permitted. A modified retrospective approach is required for adoption for all leases that exist at or commence after the date of initial application with an option to use certain practical expedients. We expect to adopt this guidance when effective. As discussed in note 2 to our condensed consolidated financial statements, most of our equipment rental revenues, which accounted for 84 percent of total revenues for the three months ended March 31, 2018 , will be accounted for under the current lease accounting standard ("Topic 840") until the adoption of Topic 842. While our review of the equipment rental revenue accounting under Topic 842 is ongoing, we have tentatively concluded that no significant changes are expected to the accounting for most of our equipment rental revenues upon adoption of Topic 842. Under Topic 842, our operating leases, which include both real estate and non-rental equipment, will result in lease assets and lease liabilities being recognized on the balance sheet. We lease a significant portion of our branch locations, and also lease other premises used for purposes such as district and regional offices and service centers. We expect that the quantification of the amount of the lease assets and lease liabilities that we will recognize on our balance sheet will take a significant amount of time given the size of our lease portfolio. While our review of the lessee accounting requirements of Topic 842 is ongoing, we believe that the impact on our balance sheet, while not currently estimable, will be significant. Measurement of Credit Losses on Financial Instruments. In June 2016, the FASB issued guidance that will require companies to present assets held at amortized cost and available for sale debt securities net of the amount expected to be collected. The guidance requires the measurement of expected credit losses to be based on relevant information from past events, including historical experiences, current conditions and reasonable and supportable forecasts that affect collectibility. The guidance will be effective for fiscal years and interim periods beginning after December 15, 2019 and early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Different components of the guidance require modified retrospective or prospective adoption. We are currently assessing whether we will early adopt, and the impact on our financial statements is not currently estimable as it will depend on market conditions and our forecast expectations upon, and following, adoption. Simplifying the Test for Goodwill Impairment . In January 2017, the FASB issued guidance intended to simplify the subsequent accounting for goodwill acquired in a business combination. Prior guidance required utilizing a two-step process to review goodwill for impairment. A second step was required if there was an indication that an impairment may exist, and the second step required calculating the potential impairment by comparing the implied fair value of the reporting unit's goodwill (as if purchase accounting were performed on the testing date) with the carrying amount of the goodwill. The new guidance eliminates the second step from the goodwill impairment test. Under the new guidance, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount, and then recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value (although the loss should not exceed the total amount of goodwill allocated to the reporting unit). The guidance requires prospective adoption and will be effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption of this guidance is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We expect to adopt this guidance when effective, and do not expect it to have a significant impact on our financial statements. Derivatives and Hedging . In August 2017, the FASB issued guidance with the objective of improving the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements. The guidance is additionally intended to simplify hedge accounting, and no longer requires separate measurement and reporting of hedge ineffectiveness. For cash flow and net investment hedges existing at the date of adoption, entities must apply a cumulative-effect adjustment related to eliminating the separate measurement of ineffectiveness to accumulated other comprehensive income with a corresponding adjustment to the opening balance of retained earnings. The amended presentation and disclosure guidance is required prospectively. The guidance will be effective for fiscal years and interim periods beginning after December 15, 2018, and early adoption is permitted. We are currently assessing whether we will early adopt. Given our currently limited use of derivative instruments, the guidance is not expected to have a significant impact on our financial statements. Guidance Adopted in 2018 Revenue from Contracts with Customers . See note 2 to our condensed consolidated financial statements for a discussion of our revenue recognition accounting following our adoption in the first quarter of 2018 of FASB guidance addressing the principles for recognizing revenue. Statement of Cash Flows. In 2018, we retrospectively adopted guidance that was issued to reduce the diversity in the presentation of certain cash receipts and cash payments presented and classified in the statement of cash flows. The guidance addresses the following specific cash flow issues: (1) debt prepayment or debt extinguishment costs, (2) settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, (3) contingent consideration payments made after a business combination, (4) proceeds from the settlement of insurance claims, (5) proceeds from settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, (6) distributions received from equity method investees, (7) beneficial interests in securitization transitions and (8) separately identifiable cash flows and application of predominance principle. The adoption of this guidance did not have a significant impact on our financial statements for the three months ended March 31, 2018 or 2017 . Intra-Entity Transfers of Assets Other Than Inventory. In 2018, we adopted guidance that requires companies to recognize the income tax effects of intra-entity sales and transfers of assets other than inventory in the period in which the transfer occurs. The adoption of this guidance did not have a significant impact on our financial statements. Clarifying the Definition of a Business . In 2018, we adopted guidance that was issued to clarify the definition of a business with the objective of assisting entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The guidance is intended to make determining when a set of assets and activities is a business more consistent and cost-efficient. The future impact of this guidance will depend on the nature of our future activities, and fewer transactions may be treated as acquisitions (or disposals) of businesses after adoption. Stock Compensation: Scope of Modification Accounting . In 2018, we prospectively adopted guidance that was issued to provide clarity and reduce both the (1) diversity in practice and (2) cost and complexity when changing the terms or conditions of share-based payment awards. Under the updated guidance, a modification is defined as a change in the terms or conditions of a share-based payment award, and an entity should account for the effects of a modification unless all of the following are met: 1. The fair value of the modified award is the same as the fair value of the original award immediately before the original award is modified. If the modification does not affect any of the inputs to the valuation techniques that the entity uses to value the award, the entity is not required to estimate the value immediately before and after the modification. 2. The vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified. 3. The classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. The majority of our modifications relate to the acceleration of vesting conditions. The accounting for such modifications did not change under the adopted guidance, which did not have a significant impact on our financial statements. As discussed below, following the adoption of Topic 606, we recognize revenue in accordance with two different accounting standards: 1) Topic 606 and 2) Topic 840 (which addresses lease accounting. As discussed below, we expect to adopt an update to this standard on January 1, 2019). Under Topic 606, revenue from contracts with customers is measured based on the consideration specified in the contract with the customer, and excludes any sales incentives and amounts collected on behalf of third parties. A performance obligation is a promise in a contract to transfer a distinct good or service to a customer, and is the unit of account under Topic 606. We recognize revenue when we satisfy a performance obligation by transferring control over a product or service to a customer. The amount of revenue recognized reflects the consideration we expect to be entitled to in exchange for such products or services. As reflected below, most of our revenue is accounted for under Topic 840. Our contracts with customers generally do not include multiple performance obligations. For contracts with multiple Topic 606 performance obligations, we allocate revenue to each performance obligation using our best estimate of the standalone selling price for each performance obligation. Performance obligations Most of our Topic 606 revenue is recognized at a point-in-time, rather than over time. Accordingly, in any particular period, we do not generally recognize a significant amount of revenue from performance obligations satisfied (or partially satisfied) in previous periods, and the amount of such revenue recognized during the three months ended March 31, 2018 and 2017 was no t material. We also do not expect to recognize material revenue in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2018 . Payment terms Our Topic 606 revenues do not include material amounts of variable consideration. Our payment terms vary by the type and location of our customer and the products or services offered. The time between invoicing and when payment is due is not significant. Our contracts do not generally include a significant financing component. For certain products or services and customer types, we require payment before the products or services are delivered to the customer. Our contracts with customers do not generally result in significant obligations associated with returns, refunds or warranties. See above for a discussion of how we manage credit risk. Sales tax amounts collected from customers are recorded on a net basis. Contract costs We do not recognize any assets associated with the incremental costs of obtaining a contract with a customer (for example, a sales commission) that we expect to recover. Most of our revenue is recognized at a point-in-time or over a period of one year or less, and we use the practical expedient that allows us to recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that we otherwise would have recognized is one year or less. Contract estimates and judgments Our revenues accounted for under Topic 606 generally do not require significant estimates or judgments, primarily for the following reasons: • The transaction price is generally fixed and stated on our contracts; • As noted above, our contracts generally do not include multiple performance obligations, and accordingly do not generally require estimates of the standalone selling price for each performance obligation; • Our revenues do not include material amounts of variable consideration; and • Most of our revenue is recognized as of a point-in-time and the timing of the satisfaction of the applicable performance obligations is readily determinable. As noted above, our Topic 606 revenue is generally recognized at the time of delivery to, or pick-up by, the customer. We monitor and review our estimated standalone selling prices on a regular basis. Lease revenues (Topic 840) The accounting for the types of revenue that are accounted for under Topic 840 is discussed below. As discussed in note 1 to the condensed consolidated financial statements, we expect to adopt Topic 842, which is an update to Topic 840, on January 1, 2019. While our review of the revenue accounting under Topic 842 is ongoing, we have tentatively concluded that no significant changes are expected to our revenue accounting upon adoption of Topic 842. Owned equipment rentals: Owned equipment rentals represent revenues from renting equipment that we own. We account for such rentals as operating leases. We recognize revenues from renting equipment on a straight-line basis. Our rental contract periods are hourly, daily, weekly or monthly. By way of example, if a customer were to rent a piece of equipment and the daily, weekly and monthly rental rates for that particular piece were (in actual dollars) $100, $300 and $900, respectively, we would recognize revenue of $32.14 per day. The daily rate for recognition purposes is calculated by dividing the monthly rate of $900 by the monthly term of 28 days. This daily rate assumes that the equipment will be on rent for the full 28 days, as we are unsure of when the customer will return the equipment and therefore unsure of which rental contract period will apply. As part of this straight-line methodology, when the equipment is returned, we recognize as incremental revenue the excess, if any, between the amount the customer is contractually required to pay, which is based on the rental contract period applicable to the actual number of days the equipment was out on rent, over the cumulative amount of revenue recognized to date. In any given accounting period, we will have customers return equipment and be contractually required to pay us more than the cumulative amount of revenue recognized to date under the straight-line methodology. For instance, continuing the above example, if the customer rented the above piece of equipment on December 29 and returned it at the close of business on January 1, we would recognize incremental revenue on January 1 of $171.44 (in actual dollars, representing the difference between the amount the customer is contractually required to pay, or $300 at the weekly rate, and the cumulative amount recognized to date on a straight-line basis, or $128.56, which represents four days at $32.14 per day). We maintain allowances for doubtful accounts. These allowances reflect our estimate of the amount of our receivables that we will be unable to collect based on historical write-off experience. Our estimate could require change based on changing circumstances, including changes in the economy or in the particular circumstances of individual customers. Accordingly, we may be required to increase or decrease our allowances. Trade receivables that have contractual maturities of one year or less are written-off when they are determined to be uncollectible based on the criteria necessary to qualify as a deduction for federal tax purposes. Write-offs of such receivables require management approval based on specified dollar thresholds. Adoption of Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers” In May 2014, and in subsequent updates, the FASB issued guidance ("Topic 606") to clarify the principles for recognizing revenue. Topic 606 is an update to Topic 605, which was the revenue recognition standard in effect through December 31, 2017. Topic 606 includes the required steps to achieve the core principle that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We adopted Topic 606 on January 1, 2018, using the modified retrospective method. The adoption of Topic 606 did not result in any significant changes to our historic revenue accounting under Topic 605. Results for 2018 are presented under Topic 606, while results for 2017 continue to reflect our historic accounting under Topic 605. Because there were no significant changes to our revenue recognition accounting upon adoption of Topic 606, no changes to our historic financial statements were required, and no cumulative change to retained earnings was required. We applied the Topic 606 practical expedient that allows entities to not restate contracts that begin and are completed within the same annual reporting period. No other practical expedients associated with the adoption of Topic 606 were applied. The only change to our revenue accounting upon adoption of Topic 606 pertains to sales of certain rental equipment. Prior to the adoption of Topic 606, certain sales of rental equipment were deferred until certain contingent future events occurred. Under Topic 606, we are no longer required to defer the revenue. The adoption of Topic 606 results in earlier recognition of certain sales of rental equipment, but it does not impact total annual revenue because the contingencies that previously resulted in deferral under Topic 605 are always resolved within the same calendar year. Re-rent revenue: Re-rent revenue reflects revenues from equipment that we rent from vendors and then rent to our customers. We account for such rentals as subleases. The accounting for re-rent revenue is the same as the accounting for owned equipment rentals described above. “Other” equipment rental revenue is primarily comprised of 1) Rental Protection Plan (or "RPP") revenue associated with the damage waiver customers can purchase when they rent our equipment to protect against potential loss or damage, 2) environmental charges associated with the rental of equipment, and 3) charges for rented equipment that is damaged by our customers. Revenues from contracts with customers (Topic 606) The accounting for the types of revenue that are accounted for under Topic 606 is discussed below. Substantially all of our revenues under Topic 606 are recognized at a point-in-time rather than over time. Delivery and pick-up: Delivery and pick-up revenue associated with renting equipment is recognized when the service is performed. “Other” equipment rental revenue is primarily comprised of revenues associated with the consumption of fuel by our customers which are recognized when the equipment is returned by the customer (and consumption, if any, can be measured). Sales of rental equipment, new equipment and contractor supplies are recognized at the time of delivery to, or pick-up by, the customer and when collectibility is reasonably assured. Service and other revenues primarily represent revenues earned from providing repair and maintenance services on our customers’ fleet (including parts sales). Service revenue is recognized as the services are performed. Receivables and contract assets and liabilities As reflected above, most of our equipment rental revenue is accounted for under Topic 840 (such revenue represented 78 percent of our total revenues for the three months ended March 31, 2018 ). The customers that are responsible for the remaining revenue that is accounted for under Topic 606 are generally the same customers that rent our equipment. We manage credit risk associated with our accounts receivables at the customer level. Because the same customers generate the revenues that are accounted for under both Topic 606 and Topic 840, the discussions below on credit risk and our allowances for doubtful accounts address our total revenues from Topic 606 (Topic 605 for 2017) and Topic 840.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Schedule of changes in accounting principles	In the following table, revenue is summarized by type and by the applicable accounting standard. Three Months Ended March 31, 2018 2017 Topic 840 Topic 606 Total Topic 840 Topic 605 Total Revenues: Owned equipment rentals $ 1,265 $ — $ 1,265 $ 1,009 $ — $ 1,009 Re-rent revenue 25 — 25 21 — 21 Ancillary and other rental revenues: Delivery and pick-up — 92 92 — 76 76 Other 56 21 77 45 15 60 Total ancillary and other rental revenues 56 113 169 45 91 136 Total equipment rentals 1,346 113 1,459 1,075 91 1,166 Sales of rental equipment — 181 181 — 106 106 Sales of new equipment — 42 42 — 39 39 Contractor supplies sales — 18 18 — 18 18 Service and other revenues — 34 34 — 27 27 Total revenues $ 1,346 $ 388 $ 1,734 $ 1,075 $ 281 $ 1,356

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Schedule of assets acquired and liabilities assumed	The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date. We do not expect material changes to the assigned values. Accounts receivable, net of allowance for doubtful accounts (1) $ 72 Inventory 5 Rental equipment 551 Property and equipment 45 Intangibles (customer relationships) (2) 153 Other assets 5 Total identifiable assets acquired 831 Current liabilities (61 ) Deferred taxes (35 ) Other long-term liabilities (3 ) Total liabilities assumed (99 ) Net identifiable assets acquired 732 Goodwill (3) 584 Net assets acquired $ 1,316 (1) The fair value of accounts receivables acquired was $72 , and the gross contractual amount was $74 . We estimated that $2 would be uncollectible. (2) The customer relationships are being amortized over a 10 year life. (3) All of the goodwill was assigned to our general rentals segment. The level of goodwill that resulted from the acquisition is primarily reflective of Neff's going-concern value, the value of Neff's assembled workforce, new customer relationships expected to arise from the acquisition, and operational synergies that we expect to achieve that would not be available to other market participants. $ 12 of goodwill is expected to be deductible for income tax purposes. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date. We do not expect material changes to the assigned values. Accounts receivable, net of allowance for doubtful accounts (1) $ 49 Inventory 4 Rental equipment 571 Property and equipment 48 Intangibles (2) 139 Other assets 7 Total identifiable assets acquired 818 Short-term debt and current maturities of long-term debt (3) (3 ) Current liabilities (33 ) Deferred taxes (15 ) Long-term debt (3) (11 ) Other long-term liabilities (5 ) Total liabilities assumed (67 ) Net identifiable assets acquired 751 Goodwill (4) 209 Net assets acquired $ 960 (1) The fair value of accounts receivables acquired was $49 , and the gross contractual amount was $53 . We estimated that $4 would be uncollectible. (2) The following table reflects the estimated fair values and useful lives of the acquired intangible assets identified based on our purchase accounting assessments: Fair value Life (years) Customer relationships $ 138 10 Non-compete agreements 1 1 Total $ 139 (3) The acquired debt reflects capital lease obligations. (4) All of the goodwill was assigned to our general rentals segment. The level of goodwill that resulted from the acquisition is primarily reflective of NES's going-concern value, the value of NES's assembled workforce, new customer relationships expected to arise from the acquisition, and operational synergies that we expect to achieve that would not be available to other market participants. $1 of goodwill is expected to be deductible for income tax purposes.
Schedule of intangible assets acquired	The following table reflects the estimated fair values and useful lives of the acquired intangible assets identified based on our purchase accounting assessments: Fair value Life (years) Customer relationships $ 138 10 Non-compete agreements 1 1 Total $ 139
Summary of business acquisition, pro forma information	The table below presents unaudited pro forma consolidated income statement information as if NES and Neff had been included in our consolidated results for the entire period reflected: Three Months Ended March 31, 2017 United Rentals NES Neff Total Historic/pro forma revenues $ 1,356 $ 81 $ 96 $ 1,533 Historic/combined pretax income (loss) 161 (12 ) 7 156 Pro forma adjustments to pretax income (loss): Impact of fair value mark-ups/useful life changes on depreciation (1) (9 ) (3 ) (12 ) Impact of the fair value mark-up of acquired fleet on cost of rental equipment sales (2) (1 ) — (1 ) Intangible asset amortization (3) (6 ) (7 ) (13 ) Interest expense (4) (9 ) (17 ) (26 ) Elimination of historic interest (5) 12 11 23 Elimination of merger related costs (6) 2 — 2 Restructuring charges (7) (18 ) (14 ) (32 ) Pro forma pretax income $ 97 (1) Depreciation of rental equipment and non-rental depreciation were adjusted for the fair value mark-ups, and the changes in useful lives and salvage values, of the equipment acquired in the NES and Neff acquisitions. (2) Cost of rental equipment sales was adjusted for the fair value mark-ups of rental equipment acquired in the NES and Neff acquisitions. (3) The intangible assets acquired in the NES and Neff acquisitions were amortized. (4) As discussed above, we issued debt to partially fund the NES and Neff acquisitions. Interest expense was adjusted to reflect these changes in our debt portfolio. (5) Historic interest on debt that is not part of the combined entity was eliminated. (6) Merger related costs primarily comprised of financial and legal advisory fees associated with the NES and Neff acquisitions were eliminated as they were assumed to have been recognized prior to the pro forma acquisition date. (7) We expect to recognize restructuring charges primarily comprised of severance costs and branch closure charges associated with the acquisitions over a period of approximately one year following the acquisition dates, which, for the pro forma presentation, was January 1, 2017. The adjustments above reflect the timing of the actual restructuring charges following the acquisitions (the pro forma restructuring charges above for the three months ended March 31, 2017 reflect the actual restructuring charges recognized during the three months following the acquisitions).

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Financial information by segment	The following tables set forth financial information by segment. General rentals Trench, power and pump Total Three Months Ended March 31, 2018 Equipment rentals $ 1,201 $ 258 $ 1,459 Sales of rental equipment 171 10 181 Sales of new equipment 37 5 42 Contractor supplies sales 14 4 18 Service and other revenues 30 4 34 Total revenue 1,453 281 1,734 Depreciation and amortization expense 337 56 393 Equipment rentals gross profit 426 119 545 Capital expenditures 267 46 313 Three Months Ended March 31, 2017 Equipment rentals $ 977 $ 189 $ 1,166 Sales of rental equipment 96 10 106 Sales of new equipment 35 4 39 Contractor supplies sales 14 4 18 Service and other revenues 24 3 27 Total revenue 1,146 210 1,356 Depreciation and amortization expense 264 46 310 Equipment rentals gross profit 360 84 444 Capital expenditures 211 30 241 March 31, December 31, Total reportable segment assets General rentals $ 13,032 $ 13,351 Trench, power and pump 1,656 1,679 Total assets $ 14,688 $ 15,030
Reconciliation to equipment rentals gross profit	The following is a reconciliation of equipment rentals gross profit to income before provision for income taxes: Three Months Ended March 31, 2018 2017 Total equipment rentals gross profit $ 545 $ 444 Gross profit from other lines of business 101 70 Selling, general and administrative expenses (232 ) (193 ) Merger related costs (1 ) (2 ) Restructuring charge (2 ) — Non-rental depreciation and amortization (71 ) (62 ) Interest expense, net (109 ) (94 ) Other income (expense), net 1 (2 ) Income before provision for income taxes $ 232 $ 161

Restructuring Charges (Tables)

Restructuring Charges (Tables)	3 Months Ended
	Mar. 31, 2018
Restructuring and Related Activities [Abstract]
Schedule of restructuring reserve by type of cost	The table below provides certain information concerning restructuring activity during the three months ended March 31, 2018 : Reserve Balance at Charged to Payments Reserve Balance at December 31, 2017 March 31, 2018 Closed Restructuring Programs Branch closure charges $ 13 $ — $ (2 ) $ 11 Severance and other — — — — Total $ 13 $ — $ (2 ) $ 11 NES/Neff/Project XL Restructuring Program Branch closure charges $ 8 $ — $ (2 ) $ 6 Severance and other 12 2 (6 ) 8 Total $ 20 $ 2 $ (8 ) $ 14 Total Branch closure charges $ 21 $ — $ (4 ) $ 17 Severance and other 12 2 (6 ) 8 Total $ 33 $ 2 $ (10 ) $ 25 _________________ (1) Reflected in our condensed consolidated statements of income as “Restructuring charge.” These charges are not allocated to our reportable segments.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair value of financial instruments	The estimated fair values of our financial instruments, all of which are categorized in Level 1 of the fair value hierarchy, as of March 31, 2018 and December 31, 2017 have been calculated based upon available market information, and were as follows: March 31, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value Senior notes $ 7,008 $ 7,108 $ 7,008 $ 7,340

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of long-term debt instruments	Debt, net of unamortized original issue discounts or premiums, and unamortized debt issuance costs, consists of the following: March 31, 2018 December 31, 2017 Accounts Receivable Securitization Facility expiring 2018 (1) $ 699 $ 695 $3.0 billion ABL Facility expiring 2021 (2) 1,365 1,670 4 5 / 8 percent Senior Secured Notes due 2023 992 992 5 3 / 4 percent Senior Notes due 2024 841 841 5 1 / 2 percent Senior Notes due 2025 793 793 4 5 / 8 percent Senior Notes due 2025 740 740 5 7 / 8 percent Senior Notes due 2026 998 998 5 1 / 2 percent Senior Notes due 2027 991 990 4 7 / 8 percent Senior Notes due 2028 (3) 1,649 1,648 4 7 / 8 percent Senior Notes due 2028 (3) 4 6 Capital leases 66 67 Total debt 9,138 9,440 Less short-term portion (4) (726 ) (723 ) Total long-term debt $ 8,412 $ 8,717 ___________________ (1) At March 31, 2018 , $67 was available under our accounts receivable securitization facility. The interest rate applicable to the accounts receivable securitization facility was 2.6 percent at March 31, 2018 . During the three months ended March 31, 2018 , the monthly average principal amount outstanding under the accounts receivable securitization facility was $710 , and the weighted-average interest rate thereon was 2.5 percent . The maximum month-end principal amount outstanding under the accounts receivable securitization facility during the three months ended March 31, 2018 was $720 . Borrowings under the accounts receivable securitization facility are permitted only to the extent that the face amount of the receivables in the collateral pool, net of applicable reserves and other deductions, exceeds the outstanding loans. As of March 31, 2018 , there were $ 767 of receivables, net of applicable reserves and other deductions, in the collateral pool. (2) At March 31, 2018 , $1.590 billion was available under our ABL facility, net of $37 of letters of credit. The interest rate applicable to the ABL facility was 3.2 percent at March 31, 2018 . During the three months ended March 31, 2018 , the monthly average principal amount outstanding under the ABL facility was $1.265 billion, and the weighted-average interest rate thereon was 3.1 percent . The maximum month-end principal amount outstanding under the ABL facility during the three months ended March 31, 2018 was $1.373 billion . (3) URNA separately issued 4 7 / 8 percent Senior Notes in August 2017 and in September 2017. Following the issuances, we consummated an exchange offer pursuant to which most of the 4 7 / 8 percent Senior Notes issued in September 2017 were exchanged for additional notes fungible with the 4 7 / 8 percent Senior Notes issued in August 2017. (4) As of March 31, 2018 , our short-term debt primarily reflects $ 699 of borrowings under our accounts receivable securitization facility.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Schedule of earnings per share	The following table sets forth the computation of basic and diluted earnings per share (shares in thousands): Three Months Ended March 31, 2018 2017 Numerator: Net income available to common stockholders 183 109 Denominator: Denominator for basic earnings per share—weighted-average common shares 84,256 84,456 Effect of dilutive securities: Employee stock options 417 414 Restricted stock units 565 507 Denominator for diluted earnings per share—adjusted weighted-average common shares 85,238 85,377 Basic earnings per share $ 2.18 $ 1.29 Diluted earnings per share $ 2.15 $ 1.27

Condensed Consolidating Finan28

Condensed Consolidating Financial Information of Guarantor Subsidiaries (Tables)	3 Months Ended
	Mar. 31, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
CONDENSED CONSOLIDATING BALANCE SHEET	The condensed consolidating financial information of Parent and its subsidiaries is as follows: CONDENSED CONSOLIDATING BALANCE SHEET March 31, 2018 Parent URNA Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Foreign SPV ASSETS Cash and cash equivalents $ — $ 49 $ — $ 229 $ — $ — $ 278 Accounts receivable, net — 69 — 109 976 — 1,154 Intercompany receivable (payable) 982 (878 ) (92 ) (12 ) — — — Inventory — 76 — 8 — — 84 Prepaid expenses and other assets — 73 — 1 — — 74 Total current assets 982 (611 ) (92 ) 335 976 — 1,590 Rental equipment, net — 7,140 — 538 — — 7,678 Property and equipment, net 42 351 34 40 — — 467 Investments in subsidiaries 2,051 1,154 1,065 — — (4,270 ) — Goodwill — 3,855 — 260 — — 4,115 Other intangible assets, net — 781 — 44 — — 825 Other long-term assets 6 7 — — — — 13 Total assets $ 3,081 $ 12,677 $ 1,007 $ 1,217 $ 976 $ (4,270 ) $ 14,688 LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) Short-term debt and current maturities of long-term debt $ 1 $ 24 $ — $ 2 $ 699 $ — $ 726 Accounts payable — 470 — 43 — — 513 Accrued expenses and other liabilities — 354 14 32 2 — 402 Total current liabilities 1 848 14 77 701 — 1,641 Long-term debt 1 8,294 114 3 — — 8,412 Deferred taxes 21 1,362 — 72 — — 1,455 Other long-term liabilities — 122 — — — — 122 Total liabilities 23 10,626 128 152 701 — 11,630 Total stockholders’ equity (deficit) 3,058 2,051 879 1,065 275 (4,270 ) 3,058 Total liabilities and stockholders’ equity (deficit) $ 3,081 $ 12,677 $ 1,007 $ 1,217 $ 976 $ (4,270 ) $ 14,688 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2017 Parent URNA Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Foreign SPV ASSETS Cash and cash equivalents $ — $ 23 $ — $ 329 $ — $ — $ 352 Accounts receivable, net — 56 — 119 1,058 — 1,233 Intercompany receivable (payable) 887 (677 ) (198 ) (124 ) — 112 — Inventory — 68 — 7 — — 75 Prepaid expenses and other assets 4 219 111 2 — (224 ) 112 Total current assets 891 (311 ) (87 ) 333 1,058 (112 ) 1,772 Rental equipment, net — 7,264 — 560 — — 7,824 Property and equipment, net 41 352 32 42 — — 467 Investments in subsidiaries 2,194 1,148 1,087 — — (4,429 ) — Goodwill — 3,815 — 267 — — 4,082 Other intangible assets, net — 827 — 48 — — 875 Other long-term assets 3 7 — — — — 10 Total assets $ 3,129 $ 13,102 $ 1,032 $ 1,250 $ 1,058 $ (4,541 ) $ 15,030 LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) Short-term debt and current maturities of long-term debt $ 1 $ 25 $ — $ 2 $ 695 $ — $ 723 Accounts payable — 366 — 43 — — 409 Accrued expenses and other liabilities — 477 17 41 1 — 536 Total current liabilities 1 868 17 86 696 — 1,668 Long-term debt 1 8,596 117 3 — — 8,717 Deferred taxes 21 1,324 — 74 — — 1,419 Other long-term liabilities — 120 — — — — 120 Total liabilities 23 10,908 134 163 696 — 11,924 Total stockholders’ equity (deficit) 3,106 2,194 898 1,087 362 (4,541 ) 3,106 Total liabilities and stockholders’ equity (deficit) $ 3,129 $ 13,102 $ 1,032 $ 1,250 $ 1,058 $ (4,541 ) $ 15,030
CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME	CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME For the Three Months Ended March 31, 2018 Parent URNA Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Foreign SPV Revenues: Equipment rentals $ — $ 1,346 $ — $ 113 $ — $ — $ 1,459 Sales of rental equipment — 164 — 17 — — 181 Sales of new equipment — 37 — 5 — — 42 Contractor supplies sales — 15 — 3 — — 18 Service and other revenues — 31 — 3 — — 34 Total revenues — 1,593 — 141 — — 1,734 Cost of revenues: Cost of equipment rentals, excluding depreciation — 535 — 57 — — 592 Depreciation of rental equipment — 297 — 25 — — 322 Cost of rental equipment sales — 98 — 9 — — 107 Cost of new equipment sales — 33 — 4 — — 37 Cost of contractor supplies sales — 10 — 2 — — 12 Cost of service and other revenues — 17 — 1 — — 18 Total cost of revenues — 990 — 98 — — 1,088 Gross profit — 603 — 43 — — 646 Selling, general and administrative expenses 40 165 — 19 8 — 232 Merger related costs — 1 — — — — 1 Restructuring charge — 2 — — — — 2 Non-rental depreciation and amortization 4 62 — 5 — — 71 Operating (loss) income (44 ) 373 — 19 (8 ) — 340 Interest (income) expense, net (7 ) 112 1 (1 ) 5 (1 ) 109 Other (income) expense, net (141 ) 161 — 11 (32 ) — (1 ) Income (loss) before provision for income taxes 104 100 (1 ) 9 19 1 232 Provision for income taxes 17 24 — 3 5 — 49 Income (loss) before equity in net earnings (loss) of subsidiaries 87 76 (1 ) 6 14 1 183 Equity in net earnings (loss) of subsidiaries 96 20 6 — — (122 ) — Net income (loss) 183 96 5 6 14 (121 ) 183 Other comprehensive (loss) income (25 ) (25 ) (25 ) (23 ) — 73 (25 ) Comprehensive income (loss) $ 158 $ 71 $ (20 ) $ (17 ) $ 14 $ (48 ) $ 158 CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME For the Three Months Ended March 31, 2017 Parent URNA Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Foreign SPV Revenues: Equipment rentals $ — $ 1,070 $ — $ 96 $ — $ — $ 1,166 Sales of rental equipment — 95 — 11 — — 106 Sales of new equipment — 35 — 4 — — 39 Contractor supplies sales — 16 — 2 — — 18 Service and other revenues — 24 — 3 — — 27 Total revenues — 1,240 — 116 — — 1,356 Cost of revenues: Cost of equipment rentals, excluding depreciation — 423 — 51 — — 474 Depreciation of rental equipment — 227 — 21 — — 248 Cost of rental equipment sales — 54 — 6 — — 60 Cost of new equipment sales — 31 — 3 — — 34 Cost of contractor supplies sales — 12 — 1 — — 13 Cost of service and other revenues — 11 — 2 — — 13 Total cost of revenues — 758 — 84 — — 842 Gross profit — 482 — 32 — — 514 Selling, general and administrative expenses 23 145 — 17 8 — 193 Merger related costs — 2 — — — — 2 Non-rental depreciation and amortization 4 52 — 6 — — 62 Operating (loss) income (27 ) 283 — 9 (8 ) — 257 Interest (income) expense, net (2 ) 93 1 1 2 (1 ) 94 Other (income) expense, net (112 ) 124 — 12 (22 ) — 2 Income (loss) before provision (benefit) for income taxes 87 66 (1 ) (4 ) 12 1 161 Provision (benefit) for income taxes 21 28 — (2 ) 5 — 52 Income (loss) before equity in net earnings (loss) of subsidiaries 66 38 (1 ) (2 ) 7 1 109 Equity in net earnings (loss) of subsidiaries 43 5 (2 ) — — (46 ) — Net income (loss) 109 43 (3 ) (2 ) 7 (45 ) 109 Other comprehensive income (loss) 8 8 8 7 — (23 ) 8 Comprehensive income (loss) $ 117 $ 51 $ 5 $ 5 $ 7 $ (68 ) $ 117
CONDENSED CONSOLIDATING CASH FLOW INFORMATION	CONDENSED CONSOLIDATING CASH FLOW INFORMATION For the Three Months Ended March 31, 2018 Parent URNA Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Foreign SPV Net cash provided by (used in) operating activities $ 5 $ 626 $ (1 ) $ (84 ) $ 96 $ — $ 642 Net cash used in investing activities (5 ) (164 ) — (9 ) — — (178 ) Net cash (used in) provided by financing activities — (436 ) 1 (1 ) (96 ) — (532 ) Effect of foreign exchange rates — — — (6 ) — — (6 ) Net increase (decrease) in cash and cash equivalents — 26 — (100 ) — — (74 ) Cash and cash equivalents at beginning of period — 23 — 329 — — 352 Cash and cash equivalents at end of period $ — $ 49 $ — $ 229 $ — $ — $ 278 CONDENSED CONSOLIDATING CASH FLOW INFORMATION For the Three Months Ended March 31, 2017 Parent URNA Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Foreign SPV Net cash provided by (used in) operating activities $ 4 $ 515 $ (1 ) $ 39 $ 65 $ — $ 622 Net cash used in investing activities (4 ) (120 ) — (9 ) — — (133 ) Net cash (used in) provided by financing activities — (402 ) 1 — (65 ) — (466 ) Effect of foreign exchange rates — — — 2 — — 2 Net (decrease) increase in cash and cash equivalents — (7 ) — 32 — — 25 Cash and cash equivalents at beginning of period — 21 — 291 — — 312 Cash and cash equivalents at end of period $ — $ 14 $ — $ 323 $ — $ — $ 337

Organization, Description of 29

Organization, Description of Business and Basis of Presentation (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Provisional income tax benefit		$ 689
Owned equipment rentals | Equipment rental revenue | Product concentration risk
Business Acquisition [Line Items]
Concentration risk, percentage	84.00%

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Owned equipment rentals	$ 1,459	$ 1,166
Re-rent revenue	25	21
Ancillary and other rental revenues:
Delivery and pick-up	92	76
Other	77	60
Total ancillary and other rental revenues	169	136
Total equipment rentals	1,459	1,166
Service and other revenues	34	27
Total revenues	1,734	1,356
Topic 840
Revenues:
Re-rent revenue	25	21
Ancillary and other rental revenues:
Delivery and pick-up	0	0
Other	56	45
Total ancillary and other rental revenues	56	45
Total equipment rentals	1,346	1,075
Service and other revenues	0	0
Total revenues	1,346	1,075
Topic 606
Revenues:
Re-rent revenue	0
Ancillary and other rental revenues:
Delivery and pick-up	92
Other	21
Total ancillary and other rental revenues	113
Total equipment rentals	113
Service and other revenues	34
Total revenues	388
Topic 605
Revenues:
Re-rent revenue		0
Ancillary and other rental revenues:
Delivery and pick-up		76
Other		15
Total ancillary and other rental revenues		91
Total equipment rentals		91
Service and other revenues		27
Total revenues		281
Owned equipment rentals
Revenues:
Owned equipment rentals	1,265	1,009
Owned equipment rentals | Topic 840
Revenues:
Owned equipment rentals	1,265	1,009
Owned equipment rentals | Topic 606
Revenues:
Owned equipment rentals	0
Owned equipment rentals | Topic 605
Revenues:
Owned equipment rentals		0
Rental equipment
Ancillary and other rental revenues:
Sales revenue	181	106
Rental equipment | Topic 840
Ancillary and other rental revenues:
Sales revenue	0	0
Rental equipment | Topic 606
Ancillary and other rental revenues:
Sales revenue	181
Rental equipment | Topic 605
Ancillary and other rental revenues:
Sales revenue		106
New equipment
Ancillary and other rental revenues:
Sales revenue	42	39
New equipment | Topic 840
Ancillary and other rental revenues:
Sales revenue	0	0
New equipment | Topic 606
Ancillary and other rental revenues:
Sales revenue	42
New equipment | Topic 605
Ancillary and other rental revenues:
Sales revenue		39
Contractor supplies
Ancillary and other rental revenues:
Sales revenue	18	18
Contractor supplies | Topic 840
Ancillary and other rental revenues:
Sales revenue	0	0
Contractor supplies | Topic 606
Ancillary and other rental revenues:
Sales revenue	$ 18
Contractor supplies | Topic 605
Ancillary and other rental revenues:
Sales revenue		$ 18

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Deferred revenue	$ 46,000,000	$ 46,000,000	$ 46,000,000		$ 46,000,000
Provision for doubtful accounts			6,000,000	$ 7,000,000
Contract with customer, asset	0		0
Contract with customer, asset, impairment losses			0
Contract with customer, liability	$ 0		0
Revenue recognized			$ 0	0
Revenues | Largest customer | Customer concentration risk
Property, Plant and Equipment [Line Items]
Percentage of equipment rental revenue			1.00%		1.00%	1.00%	1.00%
Concentration risk			1.00%		1.00%	1.00%	1.00%
Accounts receivable | Customer concentration risk
Property, Plant and Equipment [Line Items]
Percentage of equipment rental revenue	1.00%	1.00%
Concentration risk	1.00%	1.00%
Rental equipment
Property, Plant and Equipment [Line Items]
Sales revenue			$ 181,000,000	106,000,000
US | Revenues | Geographic Concentration Risk
Property, Plant and Equipment [Line Items]
Percentage of equipment rental revenue			92.00%
Concentration risk			92.00%
Topic 840 | Revenues | Product concentration risk
Property, Plant and Equipment [Line Items]
Percentage of equipment rental revenue			78.00%
Concentration risk			78.00%
Topic 840 | Rental equipment
Property, Plant and Equipment [Line Items]
Sales revenue			$ 0	0
Topic 606 | Rental equipment
Property, Plant and Equipment [Line Items]
Sales revenue				106,000,000
General rentals | Revenues | Product concentration risk
Property, Plant and Equipment [Line Items]
Percentage of equipment rental revenue			84.00%
Concentration risk			84.00%
General rentals | Rental equipment
Property, Plant and Equipment [Line Items]
Sales revenue			$ 171,000,000	96,000,000
Pro Forma | Topic 605 | ASU 2014-09 | Rental equipment
Property, Plant and Equipment [Line Items]
Sales revenue				24,000,000
Transferred at point in time | Topic 606
Property, Plant and Equipment [Line Items]
Revenue from contract with customer			$ 0	$ 0

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ in Millions	1 Months Ended		3 Months Ended
	Oct. 31, 2017USD ($)branchstate	Apr. 30, 2017USD ($)branch	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)employee	Dec. 31, 2016USD ($)employee
Business Acquisition [Line Items]
Rental equipment, net			$ 7,678		$ 7,824
Merger related costs			$ 1	$ 2
Increase in volume of OEC on rent (as a percent)			26.10%
NES Rentals Holdings II, Inc.
Business Acquisition [Line Items]
Revenue reported by acquired entity for last annual period		$ 369
Aggregate consideration paid		$ 960
Merger related costs			$ 0
Neff Corporation
Business Acquisition [Line Items]
Revenue reported by acquired entity for last annual period	$ 413
Aggregate consideration paid	1,316
Equity interests issued and issuable	$ 7
NES Rentals Holdings II, Inc.
Business Acquisition [Line Items]
Number of rental locations (branch) | branch		73
Number of employees | employee							1,100
Rental equipment, net							$ 900
Neff Corporation
Business Acquisition [Line Items]
Number of rental locations (branch) | branch	69
Number of employees | employee						1,100
Rental equipment, net						$ 860
Number of states | state	14

Acquisitions (Assets Acquired a

Acquisitions (Assets Acquired and Liabilities Assumed - NES Acquisition) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Apr. 30, 2017
Business Acquisition [Line Items]
Goodwill	$ 4,115	$ 4,082
NES Rentals Holdings II, Inc.
Business Acquisition [Line Items]
Accounts receivable, net of allowance for doubtful accounts			$ 49
Inventory			4
Rental equipment			571
Property and equipment			48
Intangibles			139
Other assets			7
Total identifiable assets acquired			818
Short-term debt and current maturities of long-term debt			(3)
Current liabilities			(33)
Deferred taxes			(15)
Long-term debt			(11)
Other long-term liabilities			(5)
Total liabilities assumed			(67)
Net identifiable assets acquired			751
Goodwill			209
Net assets acquired			960
Gross contractual amount			53
Estimated amount uncollectible			4
Goodwill, amount expected to be deductible for income tax purposes			$ 1

Acquisitions (Acquired Intangib

Acquisitions (Acquired Intangible Assets) (Details) - NES Rentals Holdings II, Inc. $ in Millions	1 Months Ended
	Apr. 30, 2017USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value	$ 139
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value	$ 138
Life (years)	10 years
Non-compete agreements
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value	$ 1
Life (years)	1 year

Acquisitions (Assets Acquired35

Acquisitions (Assets Acquired and Liabilities Assumed - Neff Acquisition) (Details) - USD ($) $ in Millions	1 Months Ended
	Oct. 31, 2017	Mar. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill		$ 4,115	$ 4,082
Neff Corporation
Business Acquisition [Line Items]
Accounts receivable, net of allowance for doubtful accounts	$ 72
Inventory	5
Rental equipment	551
Property and equipment	45
Intangibles (customer relationships)	153
Other assets	5
Total identifiable assets acquired	831
Current liabilities	(61)
Deferred taxes	(35)
Other long-term liabilities	(3)
Total liabilities assumed	(99)
Net identifiable assets acquired	732
Goodwill	584
Net assets acquired	1,316
Gross contractual amount	74
Estimated amount uncollectible	2
Goodwill, amount expected to be deductible for income tax purposes	$ 12
Customer relationships | Neff Corporation
Business Acquisition [Line Items]
Life (years)	10 years

Acquisitions (Pro Forma Informa

Acquisitions (Pro Forma Information) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Revenues	$ 1,734	$ 1,356
Pro forma revenues		1,533
Pretax income (loss)	$ 232	161
Combined pretax income		156
Pro forma pretax income		97
Impact of fair value mark-ups/useful life changes on depreciation
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Combined pretax income		(12)
Impact of the fair value mark-up of acquired fleet on cost of rental equipment sales
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Combined pretax income		(1)
Intangible asset amortization
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Combined pretax income		(13)
Interest expense
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Combined pretax income		(26)
Elimination of historic NES interest
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Combined pretax income		23
Elimination of merger related costs
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Combined pretax income		2
Restructuring charges
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Combined pretax income		(32)
NES
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Revenues		81
Pretax income (loss)		(12)
NES | Impact of fair value mark-ups/useful life changes on depreciation
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pretax income (loss)		(9)
NES | Impact of the fair value mark-up of acquired fleet on cost of rental equipment sales
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pretax income (loss)		(1)
NES | Intangible asset amortization
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pretax income (loss)		(6)
NES | Interest expense
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pretax income (loss)		(9)
NES | Elimination of historic NES interest
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pretax income (loss)		12
NES | Elimination of merger related costs
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pretax income (loss)		2
NES | Restructuring charges
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pretax income (loss)		(18)
Neff
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Revenues		96
Pretax income (loss)		7
Neff | Impact of fair value mark-ups/useful life changes on depreciation
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pretax income (loss)		(3)
Neff | Impact of the fair value mark-up of acquired fleet on cost of rental equipment sales
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pretax income (loss)		0
Neff | Intangible asset amortization
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pretax income (loss)		(7)
Neff | Interest expense
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pretax income (loss)		(17)
Neff | Elimination of historic NES interest
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pretax income (loss)		11
Neff | Elimination of merger related costs
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pretax income (loss)		0
Neff | Restructuring charges
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pretax income (loss)		$ (14)

Segment Information (Financial

Segment Information (Financial Information by Segment) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)region	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Segment Reporting Information
Equipment rentals	$ 1,459	$ 1,166
Service and other revenues	34	27
Total revenues	1,734	1,356
Depreciation and amortization expense	393	310
Gross profit	646	514
Capital expenditures	313	241
Assets	14,688		$ 15,030
Rental equipment
Segment Reporting Information
Sales revenue	181	106
New equipment
Segment Reporting Information
Sales revenue	42	39
Contractor supplies
Segment Reporting Information
Sales revenue	18	18
Equipment rentals under operating lease
Segment Reporting Information
Gross profit	$ 545	444
General rentals
Segment Reporting Information
Number of geographic regions entity operates in (locations) | region	11
Equipment rentals	$ 1,201	977
Service and other revenues	30	24
Total revenues	1,453	1,146
Depreciation and amortization expense	337	264
Capital expenditures	267	211
Assets	13,032		13,351
General rentals | Rental equipment
Segment Reporting Information
Sales revenue	171	96
General rentals | New equipment
Segment Reporting Information
Sales revenue	37	35
General rentals | Contractor supplies
Segment Reporting Information
Sales revenue	14	14
General rentals | Equipment rentals under operating lease
Segment Reporting Information
Gross profit	426	360
Trench, power and pump
Segment Reporting Information
Equipment rentals	258	189
Service and other revenues	4	3
Total revenues	281	210
Depreciation and amortization expense	56	46
Capital expenditures	46	30
Assets	1,656		$ 1,679
Trench, power and pump | Rental equipment
Segment Reporting Information
Sales revenue	10	10
Trench, power and pump | New equipment
Segment Reporting Information
Sales revenue	5	4
Trench, power and pump | Contractor supplies
Segment Reporting Information
Sales revenue	4	4
Trench, power and pump | Equipment rentals under operating lease
Segment Reporting Information
Gross profit	$ 119	$ 84

Segment Information (Reconcilia

Segment Information (Reconciliation to Income (loss) from Continuing Operations) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross profit	$ 646	$ 514
Selling, general and administrative expenses	(232)	(193)
Merger related costs	(1)	(2)
Restructuring charge	(2)	0
Non-rental depreciation and amortization	(71)	(62)
Interest expense, net	(109)	(94)
Other income (expense), net	1	(2)
Income before provision for income taxes	232	161
Equipment rentals under operating lease
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross profit	545	444
Other lines of business
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross profit	$ 101	$ 70

Restructuring Charges (Narrativ

Restructuring Charges (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)work_streamrestructuring_program
Restructuring Cost and Reserve
Restructuring costs incurred to date | $	$ 286
Closed Restructuring Programs
Restructuring Cost and Reserve
Number of restructuring programs | restructuring_program	3
NES/Neff/Project XL Restructuring Program
Restructuring Cost and Reserve
Number of specific work streams | work_stream	8

Restructuring Charges (Schedule

Restructuring Charges (Schedule of restructuring charges) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance	$ 33
Charged to Costs and Expenses	2	$ 0
Payments and Other	(10)
Ending Reserve Balance	25
Branch closure charges
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance	21
Charged to Costs and Expenses	0
Payments and Other	(4)
Ending Reserve Balance	17
Severance and other
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance	12
Charged to Costs and Expenses	2
Payments and Other	(6)
Ending Reserve Balance	8
Closed Restructuring Programs
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance	13
Charged to Costs and Expenses	0
Payments and Other	(2)
Ending Reserve Balance	11
Closed Restructuring Programs | Branch closure charges
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance	13
Charged to Costs and Expenses	0
Payments and Other	(2)
Ending Reserve Balance	11
Closed Restructuring Programs | Severance and other
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance	0
Charged to Costs and Expenses	0
Payments and Other	0
Ending Reserve Balance	0
NES/Neff/Project XL Restructuring Program
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance	20
Charged to Costs and Expenses	2
Payments and Other	(8)
Ending Reserve Balance	14
NES/Neff/Project XL Restructuring Program | Branch closure charges
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance	8
Charged to Costs and Expenses	0
Payments and Other	(2)
Ending Reserve Balance	6
NES/Neff/Project XL Restructuring Program | Severance and other
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance	12
Charged to Costs and Expenses	2
Payments and Other	(6)
Ending Reserve Balance	$ 8

Fair Value Measurements (Fair v

Fair Value Measurements (Fair value of financial instruments) (Details) - Senior notes - Level 1 - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Senior notes	$ 7,008	$ 7,008
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Senior notes	$ 7,108	$ 7,340

Debt (Schedule of long-term deb

Debt (Schedule of long-term debt instruments) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument
Total debt	$ 9,138,000,000	$ 9,440,000,000
Less short-term portion	(726,000,000)	(723,000,000)
Total long-term debt	8,412,000,000	8,717,000,000
Line of Credit | $3.0 billion ABL Facility expiring 2021
Debt Instrument
Maximum borrowing capacity	3,000,000,000
Total debt	1,365,000,000	1,670,000,000
Remaining borrowing capacity under credit facility	$ 1,590,000,000
Credit facility interest rate at period end	3.20%
Letters of credit outstanding	$ 37,000,000
Average outstanding amount	$ 1,265,000,000
Weighted average interest rate, long-term	3.10%
ABL Facility maximum month-end outstanding amount	$ 1,373,000,000
Senior notes | 4 5/8 percent Senior Secured Notes
Debt Instrument
Stated interest rate	4.625%
Total debt	$ 992,000,000	992,000,000
Senior notes | 5 3/4 percent Senior Notes due 2024
Debt Instrument
Stated interest rate	5.75%
Total debt	$ 841,000,000	841,000,000
Senior notes | 5 1/2 percent Senior Notes due 2025
Debt Instrument
Stated interest rate	5.50%
Total debt	$ 793,000,000	793,000,000
Senior notes | 4 5/8 percent Senior Notes due 2025
Debt Instrument
Stated interest rate	4.625%
Total debt	$ 740,000,000	740,000,000
Senior notes | 5 7/8 percent Senior Notes due 2026
Debt Instrument
Stated interest rate	5.875%
Total debt	$ 998,000,000	998,000,000
Senior notes | 5 1/2 percent Senior Notes due 2027
Debt Instrument
Stated interest rate	5.50%
Total debt	$ 991,000,000	990,000,000
Senior notes | 4 7/8 percent Senior Notes due 2028
Debt Instrument
Stated interest rate	4.875%
Total debt	$ 1,649,000,000	1,648,000,000
Senior notes | 4 7/8 percent Senior Notes due 2028
Debt Instrument
Stated interest rate	4.875%
Total debt	$ 4,000,000	6,000,000
Capital lease obligations
Debt Instrument
Total debt	66,000,000	67,000,000
Line of Credit | Accounts Receivable Securitization Facility expiring 2018
Debt Instrument
Total debt	699,000,000	$ 695,000,000
Remaining borrowing capacity under credit facility	$ 67,000,000
Credit facility interest rate at period end	2.60%
Average outstanding amount under facility	$ 710,000,000
Weighted average interest rate, short-term	2.50%
A/R Securitization maximum month-end outstanding amount	$ 720,000,000
Collateral amount	$ 767,000,000

Debt (Narrative) (Details)

Debt (Narrative) (Details)	3 Months Ended
	Mar. 31, 2018
Line of Credit | ABL Facility
Debt Instrument
Minimum available borrowing capacity, percentage	10.00%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Numerator:
Net income available to common stockholders	$ 183	$ 109
Denominator:
Denominator for basic earnings per share—weighted-average common shares (in shares)	84,256	84,456
Effect of dilutive securities:
Denominator for diluted earnings per share—adjusted weighted-average common shares (in shares)	85,238	85,377
Basic earnings per share (in dollars per share)	$ 2.18	$ 1.29
Diluted earnings per share (in dollars per share)	$ 2.15	$ 1.27
Employee stock options
Effect of dilutive securities:
Effect of dilutive securities (in shares)	417	414
Restricted stock units
Effect of dilutive securities:
Effect of dilutive securities (in shares)	565	507

Condensed Consolidating Finan45

Condensed Consolidating Financial Information of Guarantor Subsidiaries - CONDENSED CONSOLIDATING BALANCE SHEET (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 278	$ 352	$ 337	$ 312
Accounts receivable, net	1,154	1,233
Intercompany receivable (payable)	0	0
Inventory	84	75
Prepaid expenses and other assets	74	112
Total current assets	1,590	1,772
Rental equipment, net	7,678	7,824
Property and equipment, net	467	467
Investments in subsidiaries	0	0
Goodwill	4,115	4,082
Other intangible assets, net	825	875
Other long-term assets	13	10
Total assets	14,688	15,030
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	726	723
Accounts payable	513	409
Accrued expenses and other liabilities	402	536
Total current liabilities	1,641	1,668
Long-term debt	8,412	8,717
Deferred taxes	1,455	1,419
Other long-term liabilities	122	120
Total liabilities	11,630	11,924
Total stockholders’ equity (deficit)	3,058	3,106
Total liabilities and stockholders’ equity (deficit)	14,688	15,030
Eliminations
ASSETS
Cash and cash equivalents	0	0	0	0
Accounts receivable, net	0	0
Intercompany receivable (payable)	0	112
Inventory	0	0
Prepaid expenses and other assets	0	(224)
Total current assets	0	(112)
Rental equipment, net	0	0
Property and equipment, net	0	0
Investments in subsidiaries	(4,270)	(4,429)
Goodwill	0	0
Other intangible assets, net	0	0
Other long-term assets	0	0
Total assets	(4,270)	(4,541)
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	0	0
Accounts payable	0	0
Accrued expenses and other liabilities	0	0
Total current liabilities	0	0
Long-term debt	0	0
Deferred taxes	0	0
Other long-term liabilities	0	0
Total liabilities	0	0
Total stockholders’ equity (deficit)	(4,270)	(4,541)
Total liabilities and stockholders’ equity (deficit)	(4,270)	(4,541)
Parent | Reportable Legal Entities
ASSETS
Cash and cash equivalents	0	0	0	0
Accounts receivable, net	0	0
Intercompany receivable (payable)	982	887
Inventory	0	0
Prepaid expenses and other assets	0	4
Total current assets	982	891
Rental equipment, net	0	0
Property and equipment, net	42	41
Investments in subsidiaries	2,051	2,194
Goodwill	0	0
Other intangible assets, net	0	0
Other long-term assets	6	3
Total assets	3,081	3,129
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	1	1
Accounts payable	0	0
Accrued expenses and other liabilities	0	0
Total current liabilities	1	1
Long-term debt	1	1
Deferred taxes	21	21
Other long-term liabilities	0	0
Total liabilities	23	23
Total stockholders’ equity (deficit)	3,058	3,106
Total liabilities and stockholders’ equity (deficit)	$ 3,081	3,129
URNA
Condensed Financial Information Other Details [Abstract]
Ownership percentage in subsidiaries	100.00%
URNA | Reportable Legal Entities
ASSETS
Cash and cash equivalents	$ 49	23	14	21
Accounts receivable, net	69	56
Intercompany receivable (payable)	(878)	(677)
Inventory	76	68
Prepaid expenses and other assets	73	219
Total current assets	(611)	(311)
Rental equipment, net	7,140	7,264
Property and equipment, net	351	352
Investments in subsidiaries	1,154	1,148
Goodwill	3,855	3,815
Other intangible assets, net	781	827
Other long-term assets	7	7
Total assets	12,677	13,102
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	24	25
Accounts payable	470	366
Accrued expenses and other liabilities	354	477
Total current liabilities	848	868
Long-term debt	8,294	8,596
Deferred taxes	1,362	1,324
Other long-term liabilities	122	120
Total liabilities	10,626	10,908
Total stockholders’ equity (deficit)	2,051	2,194
Total liabilities and stockholders’ equity (deficit)	$ 12,677	13,102
Guarantor Subsidiaries
Condensed Financial Information Other Details [Abstract]
Ownership percentage in subsidiaries	100.00%
Guarantor Subsidiaries | Reportable Legal Entities
ASSETS
Cash and cash equivalents	$ 0	0	0	0
Accounts receivable, net	0	0
Intercompany receivable (payable)	(92)	(198)
Inventory	0	0
Prepaid expenses and other assets	0	111
Total current assets	(92)	(87)
Rental equipment, net	0	0
Property and equipment, net	34	32
Investments in subsidiaries	1,065	1,087
Goodwill	0	0
Other intangible assets, net	0	0
Other long-term assets	0	0
Total assets	1,007	1,032
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	0	0
Accounts payable	0	0
Accrued expenses and other liabilities	14	17
Total current liabilities	14	17
Long-term debt	114	117
Deferred taxes	0	0
Other long-term liabilities	0	0
Total liabilities	128	134
Total stockholders’ equity (deficit)	879	898
Total liabilities and stockholders’ equity (deficit)	1,007	1,032
Non-Guarantor Subsidiaries - Foreign | Reportable Legal Entities
ASSETS
Cash and cash equivalents	229	329	323	291
Accounts receivable, net	109	119
Intercompany receivable (payable)	(12)	(124)
Inventory	8	7
Prepaid expenses and other assets	1	2
Total current assets	335	333
Rental equipment, net	538	560
Property and equipment, net	40	42
Investments in subsidiaries	0	0
Goodwill	260	267
Other intangible assets, net	44	48
Other long-term assets	0	0
Total assets	1,217	1,250
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	2	2
Accounts payable	43	43
Accrued expenses and other liabilities	32	41
Total current liabilities	77	86
Long-term debt	3	3
Deferred taxes	72	74
Other long-term liabilities	0	0
Total liabilities	152	163
Total stockholders’ equity (deficit)	1,065	1,087
Total liabilities and stockholders’ equity (deficit)	1,217	1,250
Non-Guarantor Subsidiaries - SPV | Reportable Legal Entities
ASSETS
Cash and cash equivalents	0	0	$ 0	$ 0
Accounts receivable, net	976	1,058
Intercompany receivable (payable)	0	0
Inventory	0	0
Prepaid expenses and other assets	0	0
Total current assets	976	1,058
Rental equipment, net	0	0
Property and equipment, net	0	0
Investments in subsidiaries	0	0
Goodwill	0	0
Other intangible assets, net	0	0
Other long-term assets	0	0
Total assets	976	1,058
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Short-term debt and current maturities of long-term debt	699	695
Accounts payable	0	0
Accrued expenses and other liabilities	2	1
Total current liabilities	701	696
Long-term debt	0	0
Deferred taxes	0	0
Other long-term liabilities	0	0
Total liabilities	701	696
Total stockholders’ equity (deficit)	275	362
Total liabilities and stockholders’ equity (deficit)	976	$ 1,058
ABL Facility
Condensed Financial Information Other Details [Abstract]
Line of credit facility, restricted payment capacity	1,882
ABL Facility | URNA
Condensed Financial Information Other Details [Abstract]
Line of credit facility, restricted payment capacity	$ 900
Senior notes | 5 3/4 percent Senior Notes due 2024
Condensed Financial Information Other Details [Abstract]
Stated interest rate	5.75%

Condensed Consolidating Finan46

Condensed Consolidating Financial Information of Guarantor Subsidiaries - CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Revenues:
Equipment rentals		$ 1,459	$ 1,166
Service and other revenues		34	27
Total revenues		1,734	1,356
Cost of revenues:
Cost of equipment rentals, excluding depreciation		592	474
Depreciation of rental equipment		322	248
Cost of service and other revenues		18	13
Total cost of revenues		1,088	842
Gross profit		646	514
Selling, general and administrative expenses		232	193
Merger related costs		1	2
Restructuring charge		2	0
Non-rental depreciation and amortization		71	62
Operating (loss) income		340	257
Interest (income) expense, net		109	94
Other (income) expense, net		(1)	2
Income before provision for income taxes		232	161
Provision for income taxes		49	52
Income (loss) before equity in net earnings (loss) of subsidiaries		183	109
Equity in net earnings (loss) of subsidiaries		0	0
Net income		183	109
Other comprehensive (loss) income		(25)	8
Comprehensive income (loss)	[1]	158	117
Eliminations
Revenues:
Equipment rentals		0	0
Service and other revenues		0	0
Total revenues		0	0
Cost of revenues:
Cost of equipment rentals, excluding depreciation		0	0
Depreciation of rental equipment		0	0
Cost of service and other revenues		0	0
Total cost of revenues		0	0
Gross profit		0	0
Selling, general and administrative expenses		0	0
Merger related costs		0	0
Restructuring charge		0
Non-rental depreciation and amortization		0	0
Operating (loss) income		0	0
Interest (income) expense, net		(1)	(1)
Other (income) expense, net		0	0
Income before provision for income taxes		1	1
Provision for income taxes		0	0
Income (loss) before equity in net earnings (loss) of subsidiaries		1	1
Equity in net earnings (loss) of subsidiaries		(122)	(46)
Net income		(121)	(45)
Other comprehensive (loss) income		73	(23)
Comprehensive income (loss)		(48)	(68)
Parent | Reportable Legal Entities
Revenues:
Equipment rentals		0	0
Service and other revenues		0	0
Total revenues		0	0
Cost of revenues:
Cost of equipment rentals, excluding depreciation		0	0
Depreciation of rental equipment		0	0
Cost of service and other revenues		0	0
Total cost of revenues		0	0
Gross profit		0	0
Selling, general and administrative expenses		40	23
Merger related costs		0	0
Restructuring charge		0
Non-rental depreciation and amortization		4	4
Operating (loss) income		(44)	(27)
Interest (income) expense, net		(7)	(2)
Other (income) expense, net		(141)	(112)
Income before provision for income taxes		104	87
Provision for income taxes		17	21
Income (loss) before equity in net earnings (loss) of subsidiaries		87	66
Equity in net earnings (loss) of subsidiaries		96	43
Net income		183	109
Other comprehensive (loss) income		(25)	8
Comprehensive income (loss)		158	117
URNA | Reportable Legal Entities
Revenues:
Equipment rentals		1,346	1,070
Service and other revenues		31	24
Total revenues		1,593	1,240
Cost of revenues:
Cost of equipment rentals, excluding depreciation		535	423
Depreciation of rental equipment		297	227
Cost of service and other revenues		17	11
Total cost of revenues		990	758
Gross profit		603	482
Selling, general and administrative expenses		165	145
Merger related costs		1	2
Restructuring charge		2
Non-rental depreciation and amortization		62	52
Operating (loss) income		373	283
Interest (income) expense, net		112	93
Other (income) expense, net		161	124
Income before provision for income taxes		100	66
Provision for income taxes		24	28
Income (loss) before equity in net earnings (loss) of subsidiaries		76	38
Equity in net earnings (loss) of subsidiaries		20	5
Net income		96	43
Other comprehensive (loss) income		(25)	8
Comprehensive income (loss)		71	51
Guarantor Subsidiaries | Reportable Legal Entities
Revenues:
Equipment rentals		0	0
Service and other revenues		0	0
Total revenues		0	0
Cost of revenues:
Cost of equipment rentals, excluding depreciation		0	0
Depreciation of rental equipment		0	0
Cost of service and other revenues		0	0
Total cost of revenues		0	0
Gross profit		0	0
Selling, general and administrative expenses		0	0
Merger related costs		0	0
Restructuring charge		0
Non-rental depreciation and amortization		0	0
Operating (loss) income		0	0
Interest (income) expense, net		1	1
Other (income) expense, net		0	0
Income before provision for income taxes		(1)	(1)
Provision for income taxes		0	0
Income (loss) before equity in net earnings (loss) of subsidiaries		(1)	(1)
Equity in net earnings (loss) of subsidiaries		6	(2)
Net income		5	(3)
Other comprehensive (loss) income		(25)	8
Comprehensive income (loss)		(20)	5
Non-Guarantor Subsidiaries - Foreign | Reportable Legal Entities
Revenues:
Equipment rentals		113	96
Service and other revenues		3	3
Total revenues		141	116
Cost of revenues:
Cost of equipment rentals, excluding depreciation		57	51
Depreciation of rental equipment		25	21
Cost of service and other revenues		1	2
Total cost of revenues		98	84
Gross profit		43	32
Selling, general and administrative expenses		19	17
Merger related costs		0	0
Restructuring charge		0
Non-rental depreciation and amortization		5	6
Operating (loss) income		19	9
Interest (income) expense, net		(1)	1
Other (income) expense, net		11	12
Income before provision for income taxes		9	(4)
Provision for income taxes		3	(2)
Income (loss) before equity in net earnings (loss) of subsidiaries		6	(2)
Equity in net earnings (loss) of subsidiaries		0	0
Net income		6	(2)
Other comprehensive (loss) income		(23)	7
Comprehensive income (loss)		(17)	5
Non-Guarantor Subsidiaries - SPV | Reportable Legal Entities
Revenues:
Equipment rentals		0	0
Service and other revenues		0	0
Total revenues		0	0
Cost of revenues:
Cost of equipment rentals, excluding depreciation		0	0
Depreciation of rental equipment		0	0
Cost of service and other revenues		0	0
Total cost of revenues		0	0
Gross profit		0	0
Selling, general and administrative expenses		8	8
Merger related costs		0	0
Restructuring charge		0
Non-rental depreciation and amortization		0	0
Operating (loss) income		(8)	(8)
Interest (income) expense, net		5	2
Other (income) expense, net		(32)	(22)
Income before provision for income taxes		19	12
Provision for income taxes		5	5
Income (loss) before equity in net earnings (loss) of subsidiaries		14	7
Equity in net earnings (loss) of subsidiaries		0	0
Net income		14	7
Other comprehensive (loss) income		0	0
Comprehensive income (loss)		14	7
Rental equipment
Revenues:
Sales revenue		181	106
Cost of revenues:
Cost of goods sold		107	60
Rental equipment | Eliminations
Revenues:
Sales revenue		0	0
Cost of revenues:
Cost of goods sold		0	0
Rental equipment | Parent | Reportable Legal Entities
Revenues:
Sales revenue		0	0
Cost of revenues:
Cost of goods sold		0	0
Rental equipment | URNA | Reportable Legal Entities
Revenues:
Sales revenue		164	95
Cost of revenues:
Cost of goods sold		98	54
Rental equipment | Guarantor Subsidiaries | Reportable Legal Entities
Revenues:
Sales revenue		0	0
Cost of revenues:
Cost of goods sold		0	0
Rental equipment | Non-Guarantor Subsidiaries - Foreign | Reportable Legal Entities
Revenues:
Sales revenue		17	11
Cost of revenues:
Cost of goods sold		9	6
Rental equipment | Non-Guarantor Subsidiaries - SPV | Reportable Legal Entities
Revenues:
Sales revenue		0	0
Cost of revenues:
Cost of goods sold		0	0
New equipment
Revenues:
Sales revenue		42	39
Cost of revenues:
Cost of goods sold		37	34
New equipment | Eliminations
Revenues:
Sales revenue		0	0
Cost of revenues:
Cost of goods sold		0	0
New equipment | Parent | Reportable Legal Entities
Revenues:
Sales revenue		0	0
Cost of revenues:
Cost of goods sold		0	0
New equipment | URNA | Reportable Legal Entities
Revenues:
Sales revenue		37	35
Cost of revenues:
Cost of goods sold		33	31
New equipment | Guarantor Subsidiaries | Reportable Legal Entities
Revenues:
Sales revenue		0	0
Cost of revenues:
Cost of goods sold		0	0
New equipment | Non-Guarantor Subsidiaries - Foreign | Reportable Legal Entities
Revenues:
Sales revenue		5	4
Cost of revenues:
Cost of goods sold		4	3
New equipment | Non-Guarantor Subsidiaries - SPV | Reportable Legal Entities
Revenues:
Sales revenue		0	0
Cost of revenues:
Cost of goods sold		0	0
Contractor supplies
Revenues:
Sales revenue		18	18
Cost of revenues:
Cost of goods sold		12	13
Contractor supplies | Eliminations
Revenues:
Sales revenue		0	0
Cost of revenues:
Cost of goods sold		0	0
Contractor supplies | Parent | Reportable Legal Entities
Revenues:
Sales revenue		0	0
Cost of revenues:
Cost of goods sold		0	0
Contractor supplies | URNA | Reportable Legal Entities
Revenues:
Sales revenue		15	16
Cost of revenues:
Cost of goods sold		10	12
Contractor supplies | Guarantor Subsidiaries | Reportable Legal Entities
Revenues:
Sales revenue		0	0
Cost of revenues:
Cost of goods sold		0	0
Contractor supplies | Non-Guarantor Subsidiaries - Foreign | Reportable Legal Entities
Revenues:
Sales revenue		3	2
Cost of revenues:
Cost of goods sold		2	1
Contractor supplies | Non-Guarantor Subsidiaries - SPV | Reportable Legal Entities
Revenues:
Sales revenue		0	0
Cost of revenues:
Cost of goods sold		$ 0	$ 0
[1]	There were no material reclassifications from accumulated other comprehensive loss reflected in other comprehensive income (loss) during 2018 or 2017. There is no tax impact related to the foreign currency translation adjustments, as the earnings are considered permanently reinvested. There were no material taxes associated with other comprehensive income (loss) during 2018 or 2017.

Condensed Consolidating Finan47

Condensed Consolidating Financial Information of Guarantor Subsidiaries - CONDENSED CONSOLIDATING CASH FLOW INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 642	$ 622
Net cash used in investing activities	(178)	(133)
Net cash (used in) provided by financing activities	(532)	(466)
Effect of foreign exchange rates	(6)	2
Net (decrease) increase in cash and cash equivalents	(74)	25
Cash and cash equivalents at beginning of period	352	312
Cash and cash equivalents at end of period	278	337
Eliminations
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	0	0
Net cash used in investing activities	0	0
Net cash (used in) provided by financing activities	0	0
Effect of foreign exchange rates	0	0
Net (decrease) increase in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Parent | Reportable Legal Entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	5	4
Net cash used in investing activities	(5)	(4)
Net cash (used in) provided by financing activities	0	0
Effect of foreign exchange rates	0	0
Net (decrease) increase in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
URNA | Reportable Legal Entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	626	515
Net cash used in investing activities	(164)	(120)
Net cash (used in) provided by financing activities	(436)	(402)
Effect of foreign exchange rates	0	0
Net (decrease) increase in cash and cash equivalents	26	(7)
Cash and cash equivalents at beginning of period	23	21
Cash and cash equivalents at end of period	49	14
Guarantor Subsidiaries | Reportable Legal Entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(1)	(1)
Net cash used in investing activities	0	0
Net cash (used in) provided by financing activities	1	1
Effect of foreign exchange rates	0	0
Net (decrease) increase in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Non-Guarantor Subsidiaries - Foreign | Reportable Legal Entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(84)	39
Net cash used in investing activities	(9)	(9)
Net cash (used in) provided by financing activities	(1)	0
Effect of foreign exchange rates	(6)	2
Net (decrease) increase in cash and cash equivalents	(100)	32
Cash and cash equivalents at beginning of period	329	291
Cash and cash equivalents at end of period	229	323
Non-Guarantor Subsidiaries - SPV | Reportable Legal Entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	96	65
Net cash used in investing activities	0	0
Net cash (used in) provided by financing activities	(96)	(65)
Effect of foreign exchange rates	0	0
Net (decrease) increase in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	$ 0	$ 0