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Segment Information (Tables)
 12 Months Ended
Dec. 31, 2013
Segment Reporting [Abstract]  
Summary of contribution of reportable segments to revenues and adjusted pre-tax income (loss) and the reconciliation to consolidated amounts
The operations within major geographic areas are summarized below (in millions of dollars):
 
Years ended December 31,
 
2013
 
2012
 
2011
Revenues
 
 
 
 
 
United States
$
7,913.6

 
$
6,317.5

 
$
5,414.2

International
2,858.3

 
2,707.4

 
2,885.1

Total
$
10,771.9

 
$
9,024.9

 
$
8,299.3

 
As of December 31,
 
2013
 
2012
Total assets at end of year
 
 
 
United States
$
19,518.4

 
$
18,110.2

International
5,162.4

 
5,158.2

Total
$
24,680.8

 
$
23,268.4

Revenue earning equipment, net, at end of year
 
 
 
United States
$
11,610.4

 
$
10,205.0

International
2,583.0

 
2,691.6

Total
$
14,193.4

 
$
12,896.6

Property and equipment, net, at end of year
 
 
 
United States
$
1,296.3

 
$
1,226.1

International
218.0

 
210.3

Total
$
1,514.3

 
$
1,436.4


(a)
The following table reconciles adjusted pre-tax income to income before income taxes for the years ended December 31, 2013, 2012 and 2011 (in millions of dollars):
 
Years Ended December 31,
Adjusted pre-tax income:
2013
 
2012
 
2011
U.S. car rental
$
1,091.1

 
$
872.8

 
$
673.2

International car rental
141.2

 
92.9

 
145.6

Worldwide equipment rental
292.1

 
226.2

 
161.3

All other operations
57.3

 
47.6

 
15.0

Total reportable segments
1,581.7

 
1,239.5

 
995.1

Adjustments:
 
 
 
 
 
Other reconciling items(1)
(410.7
)
 
(322.2
)
 
(308.2
)
Purchase accounting(2)
(132.2
)
 
(109.6
)
 
(87.6
)
Debt-related charges(3)
(48.7
)
 
(56.4
)
 
(105.9
)
Restructuring charges
(77.0
)
 
(38.0
)
 
(56.4
)
Restructuring related charges(4)
(21.8
)
 
(11.1
)
 
(9.8
)
Derivative gains (losses)(5)
(1.0
)
 
(0.9
)
 
0.1

Acquisition related costs and charges(6)
(18.5
)
 
(163.7
)
 
(18.8
)
Integration expenses(7)
(40.0
)
 
—

 
—

Relocation costs
(7.8
)
 
—

 
—

Management transition costs
—

 
—

 
(4.0
)
Pension adjustment(8)
—

 
—

 
13.1

Premiums paid on debt(9)
(28.7
)
 
—

 
(62.4
)
Impairment charges and other(10)
(44.0
)
 
—

 
—

Other(11)
(12.1
)
 
(44.0
)
 
—

Income before income taxes
$
739.2

 
$
493.6

 
$
355.2

_________________________________________________________________________
(1)
Represents general corporate expenses, certain interest expense (including net interest on corporate debt), as well as other business activities.
(2)
Represents the increase in amortization of other intangible assets, depreciation of property and equipment and accretion of revalued liabilities relating to purchase accounting.
(3)
Represents debt-related charges relating to the amortization and write-off of deferred debt financing costs and debt discounts.
(4)
Represents incremental costs incurred directly supporting our business transformation initiatives. Such costs include transition costs incurred in connection with our business process outsourcing arrangements and incremental costs incurred to facilitate business process re-engineering initiatives that involve significant organization redesign and extensive operational process changes.
(5)
Represents the mark-to-market adjustment on our interest rate cap.
(6)
In 2012, primarily represents Dollar Thrifty acquisition related expenses, change in control expenses, 'Day-1' compensation expenses and other adjustments related to the Dollar Thrifty acquisition, loss on the Advantage divestiture, expenses related to additional required divestitures and costs associated with the Dollar Thrifty acquisition, pre-acquisition interest and commitment fee expenses for interim financing associated with the Dollar Thrifty acquisition and a gain on the investment in Dollar Thrifty stock.
(7)
In 2013, primarily represents Dollar Thrifty integration related expenses.
(8)
Represents a gain for the U.K. pension plan relating to unamortized prior service cost from a 2010 amendment that eliminated discretionary pension increases related to pre-1997 service primarily pertaining to inactive employees.
(9)
In 2013, represents premiums paid to redeem our 8.50% Former European Fleet Notes. In 2011, represents premiums paid to redeem our 10.5% Senior Subordinated Notes and a portion of our 8.875% Senior Notes.
(10)
Related to FSNA and its subsidiary, Simply Wheelz.
(11)
In 2013, primarily represents expenses related to the loss on conversion of the convertible senior notes. In 2012, primarily represents expenses related to the withdrawal from a multiemployer pension plan, litigation accrual and expenses associated with the impact of Hurricane Sandy.
The contribution of our reportable segments to revenues and adjusted pre-tax income and the reconciliation to consolidated amounts are summarized below (in millions of dollars).
 
 
Years ended December 31,
 
 
2013
 
2012
 
2011
Revenues
 
 
 
 
 
 
U.S. car rental
 
$
6,324.4

 
$
4,893.2

 
$
4,468.9

International car rental
 
2,382.5

 
2,268.5

 
2,471.9

Worldwide equipment rental
 
1,538.0

 
1,385.4

 
1,209.5

All other operations
 
527.0

 
477.8

 
149.0

Total
 
$
10,771.9

 
$
9,024.9

 
$
8,299.3

Adjusted pre-tax income(a)
 
 
 
 
 
 
U.S. car rental
 
$
1,091.1

 
$
872.8

 
$
673.2

International car rental
 
$
141.2

 
$
92.9

 
$
145.6

Worldwide equipment rental
 
$
292.1

 
$
226.2

 
$
161.3

All other operations
 
$
57.3

 
$
47.6

 
$
15.0

 
 
Years ended December 31,
 
 
2013
 
2012
 
2011
Depreciation of revenue earning equipment and lease charges
 
 
 
 
 
 
U.S. car rental
 
$
1,269.3

 
$
940.6

 
$
971.7

International car rental
 
532.0

 
528.2

 
553.2

Worldwide equipment rental
 
298.8

 
272.1

 
254.3

All other operations
 
425.4

 
388.0

 
117.0

Total
 
$
2,525.5

 
$
2,128.9

 
$
1,896.2

Depreciation of property and equipment
 
 
 
 
 
 
U.S. car rental
 
$
129.2

 
$
99.3

 
$
89.7

International car rental
 
28.0

 
25.2

 
25.5

Worldwide equipment rental
 
33.9

 
34.1

 
33.7

All other operations
 
3.6

 
2.8

 
1.3

Other reconciling items
 
10.6

 
11.2

 
7.8

Total
 
$
205.3

 
$
172.6

 
$
158.0

Amortization of other intangible assets
 
 
 
 
 
 
U.S. car rental
 
$
64.6

 
$
27.6

 
$
22.7

International car rental
 
7.6

 
6.9

 
7.7

Worldwide equipment rental
 
40.2

 
40.4

 
35.8

All other operations
 
7.2

 
7.2

 
2.3

Other reconciling items
 
1.9

 
1.8

 
1.5

Total
 
$
121.5

 
$
83.9

 
$
70.0

Interest expense
 
 
 
 
 
 
U.S. car rental
 
$
192.8

 
$
176.9

 
$
166.1

International car rental
 
114.3

 
124.2

 
161.0

Worldwide equipment rental
 
51.8

 
52.0

 
45.3

All other operations
 
14.7

 
15.2

 
6.0

Other reconciling items
 
305.3

 
229.5

 
271.9

Total
 
$
678.9

 
$
597.8

 
$
650.3

Revenue earning equipment and property and equipment
 
 
 
 
 
 
U.S. car rental
 
 
 
 
 
 
Expenditures
 
$
6,237.2

 
$
5,258.8

 
$
5,719.5

Proceeds from disposals
 
(4,387.8
)
 
(4,263.8
)
 
(5,017.4
)
Net expenditures
 
$
1,849.4

 
$
995.0

 
$
702.1

International car rental
 
 
 
 
 
 
Expenditures
 
$
2,640.8

 
$
2,641.8

 
$
2,988.7

Proceeds from disposals
 
(2,251.2
)
 
(2,105.2
)
 
(2,452.7
)
Net expenditures
 
$
389.6

 
$
536.6

 
$
536.0

Worldwide equipment rental
 
 
 
 
 
 
Expenditures
 
$
693.8

 
$
788.1

 
$
619.8

Proceeds from disposals
 
(141.0
)
 
(190.1
)
 
(216.6
)
Net expenditures
 
$
552.8

 
$
598.0

 
$
403.2

 
 
Years ended December 31,
 
 
2013
 
2012
 
2011
All other operations
 
 
 
 
 
 
Expenditures
 
$
1,012.6

 
$
1,199.2

 
$
370.2

Proceeds from disposals
 
(555.5
)
 
(689.4
)
 
(217.5
)
Net expenditures
 
$
457.1

 
$
509.8

 
$
152.7

Other reconciling items
 
 
 
 
 
 
Expenditures
 
$
27.8

 
$
22.0

 
$
15.4

Proceeds from disposals
 
(1.6
)
 
1.4

 
—

Net expenditures
 
$
26.2

 
$
23.4

 
$
15.4


 
 
As of December 31,
 
 
2013
 
2012
Total assets at end of year
 
 
 
 
U.S. car rental
 
$
14,425.2

 
$
13,579.4

International car rental
 
3,565.4

 
3,553.0

Worldwide equipment rental
 
3,870.5

 
3,622.0

All other operations
 
1,390.3

 
1,305.6

Other reconciling items
 
1,429.4

 
1,208.4

Total
 
$
24,680.8

 
$
23,268.4

Revenue earning equipment, net, at end of year
 
 
 
 
U.S. car rental
 
$
8,629.0

 
$
7,434.3

International car rental
 
2,047.1

 
2,163.6

Worldwide equipment rental
 
2,416.3

 
2,203.3

All other operations
 
1,101.0

 
1,095.4

Total
 
$
14,193.4

 
$
12,896.6

Property and equipment, net, at end of year
 
 
 
 
U.S. car rental
 
$
958.1

 
$
934.2

International car rental
 
172.6

 
163.8

Worldwide equipment rental
 
261.0

 
235.9

All other operations
 
16.0

 
16.3

Other reconciling items
 
106.6

 
86.2

Total
 
$
1,514.3

 
$
1,436.4