United Rentals M&A and 4Q Results Presentation
Historical Adjusted Earnings Per Share GAAP
Reconciliation
Adjusted EPS (earnings per share) is a non-GAAP measure that reflects diluted earnings (loss) per share from continuing operations excluding the impact of the special items described below. Management believes that adjusted EPS provides
useful information concerning future profitability. However, adjusted EPS is not a measure of financial performance under GAAP. Accordingly, adjusted EPS should not be considered an alternative to GAAP earnings per share. The table below
provides a reconciliation between diluted earnings (loss) per share and adjusted EPS.
Diluted earnings (loss) per share (EPS) from continuing operations
EPS adjustments (after-tax):
Merger related costs (1)
Merger related intangible asset amortization (2)
Impact on depreciation related to acquired fleet and property and equipment (3)
Impact of the fair value mark-up of acquired fleet (4)
Pre-close RSC merger related interest expense (5)
2008
2009
2010
$ (12.62) $ (0.98) $ (0.38) $
2011
1.38 $ 0.79 $
2012
2013
2014
2015
2016
2017
2018
3.64 $ 5.15 $ 6.07 $ 6.45 $15.73 $
13.12
2019
$ 15.11
2020
$ 12.20
0.25
0.72
0.05
0.74
0.94
0.06
1.10
(0.17)
0.36
0.32
0.01
1.15
1.12
1.15
1.76
2.48
2.22
(0.03)
(0.04) (0.03)
(0.02)
0.05
0.19
0.39
0.08
0.24
0.25
0.21
0.19
0.25
0.59
0.59
0.72
0.51
0.19
Impact on interest expense related to fair value adjustment of acquired RSC indebtedness (6)
Restructuring charge (7)
(0.03) (0.04) (0.03)
(0.02) (0.01)
0.17
0.29
0.34
0.16
0.64
0.07 (0.01)
0.04
0.11
0.36
0.28
0.18
0.18
Asset impairment charge (8)
0.06
0.12
0.09
0.04
0.10
0.02
0.03
0.01
0.05
0.37
(Gain) loss on extinguishment of debt securities, including subordinated convertible debentures,
and amendments of debt facilities (9)
(0.32)
(0.19)
0.28
0.04
0.45
0.02
0.46
0.78
0.70
0.39
0.58
1.88
Gain on sale of software subsidiary (10)
(0.05)
Goodwill impairment charge (11)
Charge related to settlement of SEC inquiry (12)
Preferred stock redemption charge (13)
Foreign tax credit valuation allowance and other (14)
Total EPS adjustments
Adjusted EPS
2017 Tax Act impact (15)
Total revenues ($M) (16)
12.19
0.19
3.19
0.10
$ 15.58 $ 0.22 $
$
0.71 $
2.96 $ (0.76) $ 0.33 $
0.49 $
2.97 $ 1.27 $ 1.76 $ 1.95 $
1.87 $ 3.76 $ 4.91 $ 6.91 $ 8.02 $
2.20 $ 2.91 $
8.65 $ 18.64 $
3.14
$ 4.41
$ 5.24
16.26
$ 19.52
$ 17.44
$ 8.05 $
$ 3,267 $ 2,358 $ 2,237 $ 2,611 $ 4,117 $ 4,955 $ 5,685 $ 5,817 $ 5,762 $ 6,641 $
8,047 $
9,351
$ 8,530
United Rentals®
United Rentals, Inc., 100 First Stamford Place, Stamford, CT 06902. 2021 United Rentals, Inc. All rights reserved.
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