United Rentals Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	2,494	2,575	2,424	2,105	1,386
Depreciation & Amortization	438	437	431	364	372
Other Amortization	2,685	2,481	2,364	1,866	1,624
Loss (Gain) From Sale of Assets	-653	-727	-807	-575	-441
Asset Writedown & Restructuring Costs	1	3	28	-	2
Stock-Based Compensation	134	112	94	127	119
Other Operating Activities	370	-69	-3	522	276
Change in Accounts Receivable	-120	-20	-167	-329	-300
Change in Inventory	-38	15	19	-25	9
Change in Accounts Payable	-22	-203	-45	304	307
Change in Other Net Operating Assets	-99	-58	366	74	335
Operating Cash Flow	5,190	4,546	4,704	4,433	3,689
Operating Cash Flow Growth	14.17%	-3.36%	6.11%	20.17%	38.79%
Capital Expenditures	-3,115	-2,606	-2,496	-2,725	-2,230
Sale of Property, Plant & Equipment	56	67	60	24	30
Cash Acquisitions	-357	-1,655	-574	-2,340	-1,436
Investment in Securities	-3	-5	-4	-7	-
Other Investing Activities	50	51	38	32	25
Investing Cash Flow	-3,369	-4,148	-2,976	-5,016	-3,611
Long-Term Debt Issued	11,182	11,609	8,576	9,885	8,364
Long-Term Debt Repaid	-10,529	-9,861	-8,574	-8,241	-8,462
Net Debt Issued (Repaid)	653	1,748	2	1,644	-98
Repurchase of Common Stock	-1,969	-1,571	-1,070	-1,068	-34
Common Dividends Paid	-464	-434	-406	-	-
Other Financing Activities	-61	-17	-	-24	-8
Financing Cash Flow	-1,841	-274	-1,474	552	-140
Foreign Exchange Rate Adjustments	22	-30	3	-7	4
Net Cash Flow	2	94	257	-38	-58
Free Cash Flow	2,075	1,940	2,208	1,708	1,459
Free Cash Flow Growth	6.96%	-12.14%	29.27%	17.07%	-38.13%
Free Cash Flow Margin	12.89%	12.64%	15.41%	14.67%	15.02%
Free Cash Flow Per Share	32.12	29.14	32.13	24.07	20.04
Cash Interest Paid	703	674	614	406	391
Cash Income Tax Paid	602	994	493	326	202
Levered Free Cash Flow	1,930	2,280	2,370	1,359	1,383
Unlevered Free Cash Flow	2,355	2,697	2,753	1,624	1,616
Change in Working Capital	-279	-266	173	24	351

Source: S&P Global Market Intelligence. Standard template. Financial Sources.