UNITED RENTALS NORTH AMERICA INC
For the period ended Sep 30, 2025. Filed Oct 22, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 22, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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United Rentals, Inc. Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
| Nine Months Ended | ||
|---|---|---|
| September 30, | ||
| 2025 | 2024 | |
| Cash Flows From Operating Activities: | ||
| Net income | $1,841 | $1,886 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 2,303 | 2,141 |
| Amortization of deferred financing costs and original issue discounts | 11 | 11 |
| Gain on sales of rental equipment | (460) | (505) |
| Gain on sales of non-rental equipment | (15) | (13) |
| Insurance proceeds from damaged equipment | (36) | (38) |
| Stock compensation expense, net | 102 | 79 |
| Restructuring charge | 1 | 3 |
| Debt related activity (1) | 15 | 1 |
| Increase (decrease) in deferred taxes | 259 | (31) |
| Changes in operating assets and liabilities, net of amounts acquired: | ||
| Increase in accounts receivable | (208) | (51) |
| (Increase) decrease in inventory | (33) | 5 |
| Increase in prepaid expenses and other assets | (202) | (44) |
| Increase in accounts payable | 338 | 152 |
| Increase (decrease) in accrued expenses and other liabilities | 18 | (98) |
| Net cash provided by operating activities | 3,934 | 3,498 |
| Cash Flows From Investing Activities: | ||
| Payments for purchases of rental equipment | (3,576) | (3,178) |
| Payments for purchases of non-rental equipment and intangible assets | (273) | (266) |
| Proceeds from sales of rental equipment | 1,027 | 1,069 |
| Proceeds from sales of non-rental equipment | 44 | 50 |
| Insurance proceeds from damaged equipment | 36 | 38 |
| Purchases of other companies, net of cash acquired | (22) | (1,342) |
| Purchases of investments | (2) | (4) |
| Net cash used in investing activities | (2,766) | (3,633) |
| Cash Flows From Financing Activities: | ||
| Proceeds from debt | 7,467 | 9,729 |
| Payments of debt | (6,862) | (7,964) |
| Payment of contingent consideration | (23) | — |
| Common stock repurchased, including tax withholdings for share-based compensation | (1,338) | (1,168) |
| Payments of financing and other debt related costs (1) | (23) | (17) |
| Dividends paid | (350) | (326) |
| Net cash (used in) provided by financing activities | (1,129) | 254 |
| Effect of foreign exchange rates | 16 | (3) |
| Net increase in cash and cash equivalents | 55 | 116 |
| Cash and cash equivalents at beginning of period | 457 | 363 |
| Cash and cash equivalents at end of period | $512 | $479 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for income taxes, net | $574 | $812 |
| Cash paid for interest | 566 | 544 |
(1)The amounts for the nine months ended September 30, 2025 primarily reflect bridge financing fees associated with the terminated acquisition of H&E Equipment Services, Inc. d/b/a H&E Rentals (“H&E”) discussed below.
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