Segment Information (Tables)

3 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2013

Segment Reporting [Abstract]

Summary Of Segments Information

				Three Months Ended September 30,
				2013					2012
				Revenues		Adjusted EBITDA			Revenues		Adjusted EBITDA
North America				$	1,513	$	223		$	1,358	$	232
International				773		144			703		129
Truck Rental				109		13			109		14
Corporate and Other (a)				—		(11		)	—		(5		)
	Total Company (b)			$	2,395	369			$	2,170	370
Less:		Non-vehicle related depreciation and amortization				39					30
		Interest expense related to corporate debt, net:
			Interest expense			57					67
			Early extinguishment of debt			—					2
		Transaction-related costs (c)				10					11
		Impairment (d)				33					—
Income before income taxes						$	230				$	260

__________

^(a) Includes unallocated corporate overhead and the elimination of transactions between segments.

^(b) Adjusted EBITDA for the three months ended September 30, 2013 and 2012, includes $14 million and $7 million, respectively, of restructuring expense.

^(c) During the three months ended September 30, 2013, the Company incurred $10 million in transaction-related costs related to the integration of the operations of Avis Europe and the acquisition of Payless. During the three months ended September 30, 2012, the Company incurred $11 million in transaction-related costs related to the integration of the operations of Avis Europe.

^(d)  During the three months ended September 30, 2013, the Company recorded a charge of $33 million for the impairment of the Company’s equity-method investment in its Brazilian licensee.

				Nine Months Ended September 30,
				2013					2012
				Revenues		Adjusted EBITDA			Revenues		Adjusted EBITDA
North America				$	3,905	$	427		$	3,580	$	509
International				1,895		211			1,791		210
Truck Rental				287		12			287		32
Corporate and Other (a)				—		(35		)	1		(15		)
	Total Company (b)			$	6,087	615			$	5,659	736
Less:		Non-vehicle related depreciation and amortization				109					92
		Interest expense related to corporate debt, net:
			Interest expense			170					208
			Early extinguishment of debt			131					52
		Transaction-related costs (c)				37					21
		Impairment (d)				33					—
Income before income taxes						$	135				$	363

__________

^(a)  Includes unallocated corporate overhead and the elimination of transactions between segments.

^(b)  Adjusted EBITDA for the nine months ended September 30, 2013 and 2012, includes $39 million and $26 million, respectively, of restructuring expense.

^(c)  During the nine months ended September 30, 2013, the Company incurred $37 million in transaction-related costs related to the integration of the operations of Avis Europe and costs related to the acquisition and integration of Zipcar and Payless. During the nine months ended September 30, 2012, the Company incurred $21 million in transaction-related costs related to the integration of the operations of Avis Europe.