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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 130.7 $ 80.0
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of rental equipment 249.5 201.5
Depreciation of property and equipment 30.4 26.9
Amortization of intangible assets 13.0 4.9
Amortization of deferred debt and financing obligations costs 1.6 1.6
Stock-based compensation charges 11.3 12.4
Provision for receivables allowances 20.5 14.3
Deferred taxes 43.1 16.3
Gain on sale of rental equipment (14.4) (11.4)
Other 1.4 2.3
Changes in assets and liabilities:    
Receivables (83.0) (27.8)
Other assets (7.4) 0.2
Accounts payable (22.8) 6.2
Accrued liabilities and other long-term liabilities (15.0) 0.5
Net cash provided by operating activities 358.9 327.9
Cash flows from investing activities:    
Rental equipment expenditures (555.3) (239.3)
Proceeds from disposal of rental equipment 46.8 71.0
Non-rental capital expenditures (27.5) (20.9)
Proceeds from disposal of property and equipment 3.3 2.4
Acquisitions, net of cash acquired (317.1) (17.9)
Other investing activities (23.0) 0.0
Net cash used in investing activities (872.8) (204.7)
Cash flows from financing activities:    
Proceeds from revolving lines of credit and securitization 872.8 165.0
Repayments on revolving lines of credit and securitization (286.2) (275.0)
Principal payments under finance lease and financing obligations (7.6) (6.7)
Dividends paid (34.3) 0.0
Proceeds from exercise of stock options 0.0 1.7
Proceeds from employee stock purchase plan 1.6 1.2
Net settlement on vesting of equity awards (15.2) (8.2)
Net cash provided by (used in) financing activities 531.1 (122.0)
Effect of foreign exchange rate changes on cash and cash equivalents (0.2) 0.4
Net change in cash and cash equivalents during the period 17.0 1.6
Cash and cash equivalents at beginning of period 35.1 33.0
Cash and cash equivalents at end of period 52.1 34.6
Supplemental disclosure of cash flow information:    
Cash paid for interest 45.6 40.8
Cash paid for income taxes, net 10.1 10.8
Supplemental disclosure of non-cash investing activity:    
Purchases of rental equipment in accounts payable 7.2 63.9
Non-rental capital expenditures in accounts payable 18.4 0.0
Supplemental disclosure of non-cash investing and financing activity:    
Equipment acquired through finance lease $ 7.1 $ 0.3