Name: United Rentals Inc. (NYSE:URI) | Liabilities and Stockholders’ Equity (Quarterly)
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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United Rentals Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018
Short-term debt and current maturities of long-term debt	161)	156)	60)	960)	906)	888)	852)	585)	704)	700)	806)	854)	997)	973)	995)	930)	903)	896)	900)	726)
Accounts payable	1,139)	1,136)	1,065)	828)	816)	1,057)	897)	562)	466)	541)	316)	484)	454)	839)	752)	557)	536)	688)	859)	513)
Accrued expenses and other liabilities	1,145)	972)	898)	809)	881)	807)	795)	694)	720)	675)	799)	658)	747)	831)	788)	751)	677)	503)	470)	402)
Current liabilities	2,445)	2,264)	2,023)	2,597)	2,603)	2,752)	2,544)	1,841)	1,890)	1,916)	1,921)	1,996)	2,198)	2,643)	2,535)	2,238)	2,116)	2,087)	2,229)	1,641)
Long-term debt, excluding current maturities	11,209)	9,754)	9,761)	8,528)	8,779)	9,216)	9,308)	8,497)	8,978)	9,351)	9,599)	10,743)	10,431)	10,691)	10,700)	10,676)	10,844)	9,182)	8,086)	8,412)
Deferred taxes	2,671)	2,263)	2,204)	2,188)	2,154)	2,081)	1,911)	1,773)	1,768)	1,818)	1,820)	1,878)	1,887)	1,800)	1,743)	1,714)	1,687)	1,628)	1,509)	1,455)
Long-term operating lease liabilities	642)	630)	633)	625)	621)	615)	630)	541)	549)	524)	532)	530)	533)	522)	497)	497)	—)	—)	—)	—)
Other long-term liabilities	154)	155)	153)	147)	144)	159)	154)	145)	138)	138)	121)	86)	91)	99)	94)	86)	83)	123)	120)	122)
Long-term liabilities	14,676)	12,802)	12,751)	11,488)	11,698)	12,071)	12,003)	10,956)	11,433)	11,831)	12,072)	13,237)	12,942)	13,112)	13,034)	12,973)	12,614)	10,933)	9,715)	9,989)
Total liabilities	17,121)	15,066)	14,774)	14,085)	14,301)	14,823)	14,547)	12,797)	13,323)	13,747)	13,993)	15,233)	15,140)	15,755)	15,569)	15,211)	14,730)	13,020)	11,944)	11,630)
Common stock, $0.01 par value	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)
Additional paid-in capital	2,626)	2,604)	2,570)	2,535)	2,567)	2,538)	2,506)	2,473)	2,482)	2,463)	2,450)	2,435)	2,440)	2,429)	2,415)	2,394)	2,408)	2,380)	2,351)	2,327)
Retained earnings	9,656)	9,017)	8,411)	7,918)	7,551)	7,070)	6,661)	6,368)	6,165)	5,868)	5,660)	5,448)	5,275)	4,937)	4,546)	4,276)	4,101)	3,791)	3,458)	3,188)
Treasury stock at cost	(4,957)	(4,957)	(4,719)	(4,219)	(3,957)	(3,957)	(3,957)	(3,957)	(3,957)	(3,957)	(3,957)	(3,957)	(3,700)	(3,500)	(3,290)	(3,080)	(2,870)	(2,660)	(2,450)	(2,282)
Accumulated other comprehensive loss	(264)	(312)	(217)	(151)	(171)	(169)	(117)	(140)	(146)	(214)	(247)	(292)	(186)	(217)	(194)	(216)	(237)	(178)	(196)	(176)
Stockholders’ equity	7,062)	6,353)	6,046)	6,084)	5,991)	5,483)	5,094)	4,745)	4,545)	4,161)	3,907)	3,635)	3,830)	3,650)	3,478)	3,375)	3,403)	3,334)	3,164)	3,058)
Total liabilities and stockholders’ equity	24,183)	21,419)	20,820)	20,169)	20,292)	20,306)	19,641)	17,542)	17,868)	17,908)	17,900)	18,868)	18,970)	19,405)	19,047)	18,586)	18,133)	16,354)	15,108)	14,688)

The balance sheet exhibits a significant expansion in total scale from March 2018 through December 2022, with total liabilities and stockholders’ equity increasing from 14.69 billion US$ to 24.18 billion US$. This growth is driven by a simultaneous increase in both long-term obligations and a substantial accumulation of equity through retained earnings.

Liability Structure and Debt Trends: Total liabilities rose from 11.63 billion US$ in early 2018 to 17.12 billion US$ by the end of 2022. Long-term debt, excluding current maturities, remained the primary driver of this growth, peaking at 11.21 billion US$ in December 2022 after a period of volatility. A notable shift occurred in the short-term debt profile; while short-term debt and current maturities of long-term debt generally fluctuated between 700 million US$ and 1 billion US$ for several years, there was a sharp decline beginning in June 2022, with levels dropping to 161 million US$ by year-end.; Current liabilities showed an overall upward trajectory, increasing from 1.64 billion US$ to 2.45 billion US$. This trend is largely supported by the growth in accounts payable, which more than doubled from 513 million US$ in March 2018 to 1.14 billion US$ in December 2022, suggesting an increase in operational scale or changes in supplier credit terms.; Deferred taxes demonstrated a consistent and steady increase throughout the reporting period, rising from 1.46 billion US$ to 2.67 billion US$, indicating a growing gap between accounting and tax-based reporting of assets and liabilities.
Stockholders’ Equity and Capital Management: Stockholders’ equity experienced robust growth, expanding from 3.06 billion US$ in March 2018 to 7.06 billion US$ in December 2022. This increase is primarily attributed to a strong upward trend in retained earnings, which grew from 3.19 billion US$ to 9.66 billion US$ over the five-year period, reflecting consistent profitability and capital retention.; A significant offset to equity growth is observed in the treasury stock account. The cost of treasury stock increased from negative 2.28 billion US$ to negative 4.96 billion US$, indicating an aggressive and sustained program of share repurchases throughout the analyzed period.; Despite the impact of share buybacks, the overall equity position strengthened, contributing to a more balanced capital structure over time relative to the total liabilities.

The overall financial trajectory is characterized by an increase in operational leverage and a substantial strengthening of the equity base. The sharp reduction in short-term debt toward the end of 2022, coupled with the increase in long-term debt, suggests a strategic shift toward extending the maturity profile of the company's obligations.

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United Rentals Inc. (NYSE:URI)

Balance Sheet: Liabilities and Stockholders’ EquityQuarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data