Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Revenues
Adjustments to Reported Income

United Rentals Inc., adjusted current assets

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Current assets	2,723)	2,151)	2,017)	1,842)	1,761)
Adjustments
Add: Allowance for credit losses	134)	112)	108)	103)	93)
After Adjustment
Adjusted current assets	2,857)	2,263)	2,125)	1,945)	1,854)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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United Rentals Inc., adjusted total assets

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Total assets	24,183)	20,292)	17,868)	18,970)	18,133)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	648)
Add: Allowance for credit losses	134)	112)	108)	103)	93)
After Adjustment
Adjusted total assets	24,317)	20,404)	17,976)	19,073)	18,874)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

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United Rentals Inc., adjusted current liabilities

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Current liabilities	2,445)	2,603)	1,890)	2,198)	2,116)
Adjustments
Less: Current deferred revenue	131)	83)	51)	55)	56)
After Adjustment
Adjusted current liabilities	2,314)	2,520)	1,839)	2,143)	2,060)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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United Rentals Inc., adjusted total liabilities

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Total liabilities	17,121)	14,301)	13,323)	15,140)	14,730)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	648)
Less: Deferred tax liability²	2,671)	2,154)	1,768)	1,887)	1,687)
Less: Deferred revenue	131)	83)	51)	55)	56)
After Adjustment
Adjusted total liabilities	14,319)	12,064)	11,504)	13,198)	13,635)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liability. See details »

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United Rentals Inc., adjusted stockholders’ equity

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Stockholders’ equity	7,062)	5,991)	4,545)	3,830)	3,403)
Adjustments
Less: Net deferred tax asset (liability)¹	(2,671)	(2,154)	(1,768)	(1,887)	(1,687)
Add: Allowance for credit losses	134)	112)	108)	103)	93)
Add: Deferred revenue	131)	83)	51)	55)	56)
After Adjustment
Adjusted stockholders’ equity	9,998)	8,340)	6,472)	5,875)	5,239)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Net deferred tax asset (liability). See details »

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United Rentals Inc., adjusted capitalization table

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Short-term debt and current maturities of long-term debt	161)	906)	704)	997)	903)
Long-term debt, excluding current maturities	11,209)	8,779)	8,978)	10,431)	10,844)
Total reported debt	11,370)	9,685)	9,682)	11,428)	11,747)
Stockholders’ equity	7,062)	5,991)	4,545)	3,830)	3,403)
Total reported capital	18,432)	15,676)	14,227)	15,258)	15,150)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	648)
Add: Current operating lease liability²	211)	202)	178)	178)	—)
Add: Long-term operating lease liabilities³	642)	621)	549)	533)	—)
Adjusted total debt	12,223)	10,508)	10,409)	12,139)	12,395)
Adjustments to Equity
Less: Net deferred tax asset (liability)⁴	(2,671)	(2,154)	(1,768)	(1,887)	(1,687)
Add: Allowance for credit losses	134)	112)	108)	103)	93)
Add: Deferred revenue	131)	83)	51)	55)	56)
Adjusted stockholders’ equity	9,998)	8,340)	6,472)	5,875)	5,239)
After Adjustment
Adjusted total capital	22,221)	18,848)	16,881)	18,014)	17,634)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Current operating lease liability. See details »

³ Long-term operating lease liabilities. See details »

⁴ Net deferred tax asset (liability). See details »

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United Rentals Inc., adjusted revenues

US$ in millions

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Revenues	11,642)	9,716)	8,530)	9,351)	8,047)
Adjustment
Add: Increase (decrease) in deferred revenue	48)	32)	(4)	(1)	10)
After Adjustment
Adjusted revenues	11,690)	9,748)	8,526)	9,350)	8,057)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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United Rentals Inc., adjusted net income

US$ in millions

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Net income	2,105)	1,386)	890)	1,174)	1,096)
Adjustments
Add: Deferred income tax expense (benefit)¹	537)	268)	(121)	204)	257)
Add: Increase (decrease) in allowance for credit losses	22)	4)	5)	10)	25)
Add: Increase (decrease) in deferred revenue	48)	32)	(4)	(1)	10)
Add: Other comprehensive income (loss)	(93)	(25)	40)	51)	(86)
After Adjustment
Adjusted net income	2,619)	1,665)	810)	1,438)	1,302)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Deferred income tax expense (benefit). See details »

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United Rentals Inc. (NYSE:URI)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Revenues

Adjustments to Reported Income