In general terms however there are two key calculations: the physical utilization on the asset, which is measured based on the number of available days for rental against the number of days actually rented. (This may also be measured in hours for certain types of equipment), and the financial utilization on the asset (referred to in North America as $ Utilization) which is measured as the rental revenue achieved over a period of time against the potential revenue that could have been achieved based on a target or standard, non-discounted rate.
In general terms, however, there are two primary calculations: the physical utilization of an asset, measured by the number of available days for rental compared to the actual days rented (which can also be expressed in hours for specific types of equipment), and the financial utilization of an asset, referred to as $Utilization in North America, which is calculated as the rental revenue achieved over a period against the potential revenue that could have been earned based on a target or standard rate.