UNITED RENTALS NORTH AMERICA INC
For the period ended Jun 30, 2025. Filed Jul 23, 2025.
View on SEC.govAbout this filing
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.
Jun 30, 2025 · Filed Jul 23, 2025
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2025-03-31; filed 2025-04-23.
0001067701-25-000017
Item 1A. Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsOther InformationCurrent report: 10-Q
Period ended 2025-06-30; filed 2025-07-23.
0001628280-25-035756
Item 1A. Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsOther InformationThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 9 previous paragraphs and 9 current paragraphs.
6 unchanged; 3 reworded; 0 added; 0 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 1 previous and 1 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Reworded paragraphs (3)
Previous wording
The following table provides information about purchases of Holdings’ common stock by Holdings during the first quarter of 2025:
Current wording
The following table provides information about purchases of Holdings’ common stock by Holdings during the second quarter of 2025:
Previous wording
(1)In January 2025, February 2025 and March 2025, 20,471, 624 and 38,010 shares, respectively, were withheld by Holdings to satisfy tax withholding obligations upon the vesting of restricted stock unit awards. These shares were not acquired pursuant to any repurchase plan or program.
Current wording
(1)In April 2025, May 2025 and June 2025, 401, 297 and 286 shares, respectively, were withheld by Holdings to satisfy tax withholding obligations upon the vesting of restricted stock unit awards. These shares were not acquired pursuant to any repurchase plan or program.
Previous wording
(2)On January 24, 2024, our Board of Directors authorized a $1.5 billion share repurchase program, and the program was completed in the first quarter of 2025. On April 23, 2025, our Board of Directors authorized a new $1.5 billion share repurchase program. We plan to begin repurchases under the new program in the second quarter of 2025, and intend to repurchase $1.25 billion under the new program in 2025 and then complete the program by the end of the first quarter of 2026. As of March 31, 2025, there were no open share repurchase programs. A 1 percent excise tax is imposed on “net repurchases” (certain purchases minus certain issuances) of common stock. The repurchases above (as well as the total program sizes) do not include the excise tax, which totaled $2 million year-to-date through March 31, 2025.
Current wording
(2)On April 23, 2025, our Board of Directors authorized a $1.5 billion share repurchase program, and repurchases under the program began in April 2025. Subsequent to the enactment of the new federal tax legislation discussed above (see "Management’s Discussion and Analysis of Financial Condition and Results of Operations-Results of Operations-Other costs/(income)-effective tax rates”) on July 4, 2025, and with consideration of the expected cash flow benefit associated with the legislation, our Board of Directors approved an increase in the size of the share repurchase program, from $1.5 billion to $2.0 billion. We intend to repurchase $1.65 billion under the program in 2025, with the remaining $350 million under the program carried into 2026. The maximum dollar amount yet to be purchased above reflects the amount as of June 30, 2025, and the amount yet to be purchased increased by $500 million upon the increase in the program size. A 1 percent excise tax is imposed on “net repurchases” (certain purchases minus certain issuances) of common stock. The repurchases above (as well as the total program size) do not include the excise tax, which totaled $6 million year-to-date through June 30, 2025 (the total excise tax amount relates to both the open program above and our prior $1.5 billion share repurchase program that was completed in the first quarter of 2025).