Summary
This 8-K filing by United Rentals, Inc. primarily serves to disclose a change in accounting presentation for comprehensive income, effective the first quarter of 2012. The company has adopted a new standard that mandates presenting net income, other comprehensive income, and total comprehensive income in a continuous or two-part statement, eliminating the previous presentation within the statement of changes in stockholders' equity. The filing also provides historical data for net income, other comprehensive (loss) income, and total comprehensive income (loss) for the years 2011, 2010, and 2009, illustrating the impact of foreign currency translation adjustments and fixed price diesel swaps on other comprehensive income. Additionally, the filing includes cautionary statements regarding forward-looking information and details on where investors can find more information related to the proposed transaction with RSC Holdings.
Key Highlights
- 1United Rentals adopted a new accounting standard requiring a revised presentation of comprehensive income components.
- 2The change eliminates the option to present other comprehensive income within the statement of changes in stockholders' equity.
- 3Historical data for net income, other comprehensive income (loss), and total comprehensive income (loss) from 2009-2011 is provided.
- 4Foreign currency translation adjustments were the primary driver of other comprehensive income (loss) in the historical periods.
- 5The filing contains standard cautionary statements about forward-looking statements and potential risks related to the proposed merger with RSC Holdings.
- 6Investors are directed to SEC filings and company websites for additional information regarding the RSC Holdings transaction.