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Segment Information
 3 Months Ended
Mar. 31, 2015
Segment Reporting [Abstract]  
Segment Information
Segment Information

The Company has identified four reportable segments, which are organized based on the products and services provided by its operating segments and the geographic areas in which its operating segments conduct business, as follows:

•
U.S. Car Rental - rental of cars, crossovers and light trucks, as well as ancillary products and services, in the United States and consists of the Company's United States operating segment;

•
International Car Rental - rental of cars, crossovers and light trucks, as well as ancillary products and services, internationally and consists of the Company's Europe and Other International operating segments, which are aggregated into a reportable segment based primarily upon similar economic characteristics, products and services, customers, delivery methods and general regulatory environments;

•
Worldwide Equipment Rental - rental of industrial, construction, material handling and other equipment and consists of the Company's worldwide equipment rental operating segment; and

•
All Other Operations - includes the Company's Donlen operating segment which provides fleet leasing and management services and is not considered a separate reportable segment in accordance with applicable accounting standards, together with other business activities, such as its claim management services.

In addition to the above reportable segments, the Company has corporate operations ("Corporate") which includes general corporate assets and expenses and certain interest expense (including net interest on corporate debt).

Adjusted pre-tax income (loss) is calculated as income before income taxes plus non-cash purchase accounting charges, debt-related charges relating to the amortization and write-off of debt financing costs and debt discounts and certain one-time charges and non-operational items. Adjusted pre-tax income (loss) is important because it allows management to assess operational performance of its business, exclusive of the items mentioned above. It also allows management to assess the performance of the entire business on the same basis as the segment measure of profitability. Management believes that it is important to investors for the same reasons it is important to management and because it allows them to assess the Company's operational performance on the same basis that management uses internally.

The contribution of our reportable segments, and Corporate where applicable, to revenues and adjusted pre-tax income (loss) and the reconciliation to consolidated amounts are summarized below.
 
Three Months Ended March 31,
 
Revenues
 
Adjusted Pre-Tax Income (Loss)
(In millions)
2015
 
2014
 
2015
 
2014
U.S. Car Rental
$
1,520

 
$
1,557

 
$
71

 
$
119

International Car Rental
436

 
482

 
8

 
(39
)
Worldwide Equipment Rental
355

 
358

 
33

 
52

All Other Operations
143

 
139

 
16

 
16

Total reportable segments
$
2,454

 
$
2,536

 
128

 
148

Corporate (1)
 
 
 
 
(125
)
 
(122
)
Consolidated adjusted pre-tax income (loss)
 
 
 
 
3

 
26

Adjustments:
 
 
 
 
 
 
 
Acquisition accounting (2)
 
 
 
 
(31
)
 
(33
)
Debt-related charges (3)
 
 
 
 
(16
)
 
(11
)
Restructuring charges (4)
 
 
 
 
(7
)
 
(15
)
Restructuring related charges (5)
 
 
 
 
(13
)
 
(24
)
Acquisition related costs and charges (6)
 
 
 
 
—

 
(7
)
Equipment rental spin-off costs (7)
 
 
 
 
(9
)
 
—

Impairment charges and asset write-downs(8)
 
 
 
 
(9
)
 
—

Other (9)
 
 
 
 
(4
)
 
5

Income (loss) before income taxes
 
 
 
 
$
(86
)
 
$
(59
)

(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 acquisition accounting.
(3)
Represents debt-related charges relating to the amortization of deferred debt financing costs and debt discounts.
(4)
Represents expenses incurred under restructuring actions as defined in U.S. GAAP- for further information on restructuring costs, see Note 8, "Restructuring."
(5)
Represents incremental costs incurred directly supporting business transformation initiatives. Such costs include transition costs incurred in connection with 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. Amount in 2015 also includes consulting costs and legal fees related to the accounting review and investigation and costs associated with the separation of certain executives during the quarter.
(6)
Represents costs related to acquisitions and strategic initiatives.
(7)
Represents expenses associated with the anticipated HERC spin-off transaction announced in March 2014.
(8)
Represents the impairment of the former Dollar Thrifty headquarters and the impairment of a corporate asset in the first quarter 2015. There were no impairments or asset write-downs in the first quarter 2014.
(9)
Includes integration charges and relocation expenses associated with the Company's relocation of its headquarters to Estero, Florida, as well as other miscellaneous non-recurring or non-cash items.

Total assets
(In millions)
March 31, 2015
 
December 31, 2014
U.S. Car Rental
$
14,471

 
$
13,712

International Car Rental
3,355

 
3,358

Worldwide Equipment Rental
3,802

 
3,836

All Other Operations
1,523

 
1,458

Corporate
1,551

 
1,716

Total
$
24,702

 
$
24,080