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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 143 $ 131
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of rental equipment 313 249
Depreciation of property and equipment 34 31
Amortization of intangible assets 20 13
Amortization of deferred debt and financing obligations costs 2 2
Stock-based compensation charges 9 11
Provision for receivables allowances 30 20
Deferred taxes 20 43
Gain on sale of rental equipment (52) (14)
Other 3 1
Changes in assets and liabilities:    
Receivables (24) (83)
Other assets 1 (7)
Accounts payable (6) (23)
Accrued liabilities and other long-term liabilities 23 (15)
Net cash provided by operating activities 516 359
Cash flows from investing activities:    
Rental equipment expenditures (703) (556)
Proceeds from disposal of rental equipment 131 47
Non-rental capital expenditures (77) (28)
Proceeds from disposal of property and equipment 6 3
Acquisitions, net of cash acquired (272) (317)
Other investing activities (15) (23)
Net cash used in investing activities (930) (874)
Cash flows from financing activities:    
Proceeds from revolving lines of credit and securitization 1,290 873
Repayments on revolving lines of credit and securitization (719) (286)
Principal payments under finance lease and financing obligations (8) (8)
Dividends paid (38) (34)
Net settlement on vesting of equity awards (25) (15)
Proceeds from employee stock purchase plan 2 2
Proceeds from exercise of stock options 2 0
Repurchase of common stock (107) 0
Net cash provided by financing activities 397 532
Effect of foreign exchange rate changes on cash and cash equivalents 0 0
Net change in cash and cash equivalents during the period (17) 17
Cash and cash equivalents at beginning of period 54 35
Cash and cash equivalents at end of period 37 52
Supplemental disclosure of cash flow information:    
Cash paid for interest 100 46
Cash paid for income taxes, net 4 10
Supplemental disclosure of non-cash investing activity:    
Purchases of rental equipment in accounts payable 47 7
Non-rental capital expenditures in accounts payable 2 18
Disposal of rental equipment in accounts receivable 18 0
Supplemental disclosure of non-cash investing and financing activity:    
Equipment acquired through finance lease $ 4 $ 7