United Rentals (URI) 8-K/A Results of Operations and Financial Condition

Exhibit 99.1

UNITED RENTALS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2011			2010			2011			2010
Cash Flows From Operating Activities:
Net income (loss)	$	27		$	12		$	7		$	(28	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		117			111			228			220
Amortization of deferred financing costs and original issue discounts		6			5			11			11
Gain on sales of rental equipment		(13	)		(9	)		(27	)		(20	)
Gain on sales of non-rental equipment		(1	)		—			(1	)		(1	)
Stock compensation expense, net		4			3			6			4
Restructuring charge		2			6			3			12
Loss (gain) on repurchase/redemption of debt securities		—			(1	)		—			3
Loss on retirement of subordinated convertible debentures		—			—			1			—
Increase (decrease) in deferred taxes		5			(23	)		(4	)		(47	)
Changes in operating assets and liabilities:
Increase in accounts receivable		(51	)		(24	)		(15	)		(7	)
Increase in inventory		(6	)		(14	)		(30	)		(16	)
(Increase) decrease in prepaid expenses and other assets		(9	)		18			(15	)		55
Increase in accounts payable		57			51			147			61
Increase (decrease) in accrued expenses and other liabilities		4			(34	)		(15	)		(28	)
Net cash provided by operating activities		142			101			296			219
Cash Flows From Investing Activities:
Purchases of rental equipment		(297	)		(125	)		(412	)		(174	)
Purchases of non-rental equipment		(8	)		(7	)		(13	)		(12	)
Proceeds from sales of rental equipment		41			37			73			72
Proceeds from sales of non-rental equipment		4			2			8			3
Purchases of other companies		(143	)		—			(143	)		—
Net cash used in investing activities		(403	)		(93	)		(487	)		(111	)
Cash Flows From Financing Activities:
Proceeds from debt		536			445			1,107			1,090
Payments of debt, including subordinated convertible debentures		(441	)		(435	)		(1,082	)		(1,332	)
Proceeds from the exercise of common stock options		26			—			30			—
Shares repurchased and retired		—			—			(7	)		(1	)
Cash paid in connection with the 4 percent Convertible Senior Notes and related hedge, net		(9	)		—			(9	)		—
Excess tax benefits from share-based payment arrangements, net		—			—			—			(1	)
Net cash provided by (used in) financing activities		112			10			39			(244	)
Effect of foreign exchange rates		2			(8	)		7			(3	)
Net (decrease) increase in cash and cash equivalents		(147	)		10			(145	)		(139	)
Cash and cash equivalents at beginning of period		205			20			203			169
Cash and cash equivalents at end of period	$	58		$	30		$	58		$	30
Supplemental disclosure of cash flow information:
Cash paid (received) for taxes, net	$	5		$	3		$	16		$	(50	)
Cash paid for interest, including subordinated convertible debentures		64			88			98			121