CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended
Mar. 31, 2016	Mar. 31, 2015
Revenues:
Worldwide car rental	$ 1,839	$ 1,956
Worldwide equipment rental	328	355
All other operations	144	143
Total revenues	2,311	2,454
Expenses:
Direct operating	1,341	1,408
Depreciation of revenue earning equipment and lease charges, net	706	707
Selling, general and administrative	267	266
Interest expense, net	154	154
Other (income) expense, net	(91)	5
Total expenses	2,377	2,540
Income (loss) before income taxes	(66)	(86)
(Provision) benefit for taxes on income (loss)	17	16
Net income (loss)	$ (49)	$ (70)

Total costs of sales, operating expenses, Interest and other expense for the period.

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Revenues from all company-operated car rental operations, including charges to customers for the reimbursement of costs incurred relating to airport concession fees and vehicle license fees, the fueling of vehicles and the sale of loss or collision damage waivers, liability insurance coverage and other products.

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The aggregate direct operating costs incurred during the reporting period.

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Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest.

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Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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Amount of the cost of borrowed funds accounted for as interest expense.

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