Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

United Rentals Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net income	2,105)	1,386)	890)	1,174)	1,096)
Depreciation and amortization	2,217)	1,983)	1,988)	2,038)	1,671)
Amortization of deferred financing costs and original issue discounts	13)	13)	14)	15)	12)
Gain on sales of rental equipment	(566)	(431)	(332)	(313)	(278)
Gain on sales of non-rental equipment	(9)	(10)	(8)	(6)	(6)
Insurance proceeds from damaged equipment	(32)	(25)	(40)	(24)	(22)
Stock compensation expense, net	127)	119)	70)	61)	102)
Merger related costs	—)	3)	—)	1)	36)
Restructuring charge	—)	2)	17)	18)	31)
Loss on repurchase/redemption of debt securities	17)	30)	183)	61)	—)
Increase (decrease) in deferred taxes	537)	268)	(121)	204)	257)
(Increase) decrease in accounts receivable	(329)	(300)	218)	39)	(115)
(Increase) decrease in inventory	(25)	9)	(5)	(8)	(20)
(Increase) decrease in prepaid expenses and other assets	(164)	248)	(228)	(59)	75)
Increase (decrease) in accounts payable	304)	307)	10)	(86)	49)
Increase (decrease) in accrued expenses and other liabilities	238)	87)	2)	(91)	(35)
Changes in operating assets and liabilities, net of amounts acquired	24)	351)	(3)	(205)	(46)
Adjustments to reconcile net income to net cash provided by operating activities	2,328)	2,303)	1,768)	1,850)	1,757)
Net cash provided by operating activities	4,433)	3,689)	2,658)	3,024)	2,853)
Purchases of rental equipment	(3,436)	(2,998)	(961)	(2,132)	(2,106)
Purchases of non-rental equipment and intangible assets	(254)	(200)	(197)	(218)	(185)
Proceeds from sales of rental equipment	965)	968)	858)	831)	664)
Proceeds from sales of non-rental equipment	24)	30)	42)	37)	23)
Insurance proceeds from damaged equipment	32)	25)	40)	24)	22)
Purchases of other companies, net of cash acquired	(2,340)	(1,436)	(2)	(249)	(2,966)
Purchases of investments	(7)	—)	(3)	(3)	(3)
Net cash used in investing activities	(5,016)	(3,611)	(223)	(1,710)	(4,551)
Proceeds from debt	9,885)	8,364)	9,260)	9,260)	12,178)
Payments of debt	(8,241)	(8,462)	(11,245)	(9,678)	(9,942)
Payments of financing costs	(24)	(8)	(23)	(28)	(24)
Proceeds from the exercise of common stock options	—)	—)	1)	11)	2)
Common stock repurchased, including tax withholdings for share based compensation	(1,068)	(34)	(286)	(870)	(817)
Net cash provided by (used in) financing activities	552)	(140)	(2,293)	(1,305)	1,397)
Effect of foreign exchange rates	(7)	4)	8)	—)	(8)
Net increase (decrease) in cash and cash equivalents	(38)	(58)	150)	9)	(309)
Cash and cash equivalents at beginning of year	144)	202)	52)	43)	352)
Cash and cash equivalents at end of year	106)	144)	202)	52)	43)

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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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	United Rentals Inc. net cash provided by operating activities increased from 2020 to 2021 and from 2021 to 2022.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	United Rentals Inc. net cash used in investing activities decreased from 2020 to 2021 and from 2021 to 2022.
Net cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	United Rentals Inc. net cash provided by (used in) financing activities increased from 2020 to 2021 and from 2021 to 2022.

United Rentals Inc. (NYSE:URI)

Cash Flow Statement