United Rentals Financial Performance and Market Exposure
Consistent free cash flow generation
Free Cash Flow($M)¹ --10-Yr Average
-5-Yr Average
$1,600
$1,400
$1,200
$1,000
$800
$600
$574
$421
$924
$1,195
$983
$1,400
$1,334
$367
$400
$335
$227
$200
$23
$(73)
$0
(3)
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019F
-$200
Notes:
$5.0B of free cash flow generated over last 5 years, with a strong outlook'
(1) Free cash flow is a non-GAAP measure. See tables provided elsewhere in this presentation for reconciliations to the most comparable GAAP measure. Merger and restructuring related payments were first reported for 2012. The information required to determine the amount of merger and restructuring
related payments for periods prior to 2012 is unavailable without unreasonable effort. Free cash flow for 2012 and subsequent periods above excludes merger and restructuring related payments.
(2) Reflects 5 year period from 2014 to 2018, excluding merger and restructuring related payments.
(3) 2019F reflects mid-point of guidance
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