Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

United Rentals Inc., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Equipment rentals	10,116)	8,207)	7,140)	7,964)	6,940)
Sales of rental equipment	965)	968)	858)	831)	664)
Sales of new equipment	154)	203)	247)	268)	208)
Contractor supplies sales	126)	109)	98)	104)	91)
Service and other revenues	281)	229)	187)	184)	144)
Revenues	11,642)	9,716)	8,530)	9,351)	8,047)
Cost of equipment rentals, excluding depreciation	(4,018)	(3,329)	(2,820)	(3,126)	(2,614)
Depreciation of rental equipment	(1,853)	(1,611)	(1,601)	(1,631)	(1,363)
Cost of rental equipment sales	(399)	(537)	(526)	(518)	(386)
Cost of new equipment sales	(124)	(169)	(214)	(231)	(179)
Cost of contractor supplies sales	(84)	(78)	(69)	(73)	(60)
Cost of service and other revenues	(168)	(139)	(117)	(102)	(81)
Cost of revenues	(6,646)	(5,863)	(5,347)	(5,681)	(4,683)
Gross profit	4,996)	3,853)	3,183)	3,670)	3,364)
Selling, general and administrative expenses	(1,400)	(1,199)	(979)	(1,092)	(1,038)
Merger related costs	—)	(3)	—)	(1)	(36)
Restructuring charge	—)	(2)	(17)	(18)	(31)
Non-rental depreciation and amortization	(364)	(372)	(387)	(407)	(308)
Operating income	3,232)	2,277)	1,800)	2,152)	1,951)
Interest expense, net	(445)	(424)	(669)	(648)	(481)
Other income (expense), net	15)	(7)	8)	10)	6)
Income before provision for income taxes	2,802)	1,846)	1,139)	1,514)	1,476)
Provision for income taxes	(697)	(460)	(249)	(340)	(380)
Net income	2,105)	1,386)	890)	1,174)	1,096)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Download chart

Income statement item	Description	The company
Revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	United Rentals Inc. revenues increased from 2020 to 2021 and from 2021 to 2022.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	United Rentals Inc. operating income increased from 2020 to 2021 and from 2021 to 2022.
Income before provision for income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	United Rentals Inc. income before provision for income taxes increased from 2020 to 2021 and from 2021 to 2022.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	United Rentals Inc. net income increased from 2020 to 2021 and from 2021 to 2022.

United Rentals Inc. (NYSE:URI)

Income Statement