Summary
United Rentals, Inc. (URI) filed an 8-K on December 22, 2005, primarily to disclose unaudited interim financial information as of and for the month ended November 30, 2005, as agreed with its bondholders. This information provides a snapshot of the company's financial performance and liquidity during that period. The disclosed figures show total revenue of $312.8 million and net cash provided by operating activities of $66.1 million for the month. Importantly, the filing highlights a total debt of $2,922.4 million and a combined cash position and borrowing availability of $900.1 million as of November 30, 2005. Investors should note that this financial information is preliminary and subject to change, given ongoing internal reviews, possible restatements of prior periods, and a previously announced SEC inquiry.
Key Highlights
- 1Disclosure of unaudited consolidated financial information for the month ended November 30, 2005, per agreement with bondholders.
- 2Total revenue for the month of November 2005 reported at $312.8 million.
- 3Net cash provided by operating activities for the month was $66.1 million.
- 4Total debt stood at $2,922.4 million as of November 30, 2005.
- 5Cash position plus borrowing availability was $900.1 million as of November 30, 2005.
- 6The availability under the accounts receivable securitization facility ($200 million) is contingent on the company's long-term senior secured ratings.
- 7Financial information is preliminary and subject to change due to SEC inquiry, internal reviews, and potential restatements.