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CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Lease & related maintenance and rental revenue $ 966 $ 948 $ 1,911 $ 1,884
Total revenue 3,189 3,182 6,319 6,279
Selling, general and administrative expenses 378 368 744 746
Non-operating pension costs, net 9 10 18 21
Used vehicle sales, net 2 (19) (7) (39)
Interest expense 102 96 202 188
Miscellaneous income, net (13) (4) (8) (19)
Restructuring and other items, net 0 0 0 4
Total expenses 3,005 3,004 6,001 5,987
Earnings from continuing operations before income taxes 184 178 318 292
Provision for income taxes 52 52 88 80
Earnings from continuing operations 132 126 230 212
(Loss) earnings from discontinued operations, net of tax (1) 1 (2) 0
Net earnings $ 131 $ 127 $ 228 $ 212
Earnings per common share — Basic        
Continuing operations (in dollars per share) $ 3.19 $ 2.88 $ 5.51 $ 4.81
Discontinued operations (in dollars per share) (0.02) 0.01 (0.03) 0.01
Net earnings (in dollars per share) 3.18 2.89 5.48 4.82
Earnings per common share — Diluted        
Continuing operations (in dollars per share) 3.15 2.83 5.42 4.72
Discontinued operations (in dollars per share) (0.02) 0.01 (0.03) 0.01
Net earnings (in dollars per share) $ 3.13 $ 2.84 $ 5.39 $ 4.73
Services revenue        
Revenue $ 2,123 $ 2,114 $ 4,202 $ 4,151
Cost of services sold 1,792 1,793 3,564 3,536
Cost of lease & related maintenance and rental        
Cost of services sold 641 644 1,290 1,313
Fuel services revenue        
Revenue 100 120 206 244
Cost of services sold $ 94 $ 116 $ 198 $ 237