Segment Information (Tables)

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Summary of Operating Segments

The Company’s presentation of Adjusted EBITDA may not be comparable to similarly-titled measures used by other companies.

Year Ended December 31, 2013

	North America		International		Truck Rental		Corporate and Other (a)			Total
Net revenues	$	5,083	$	2,481	$	373	$	—		$	7,937
Vehicle depreciation and lease charges, net	1,262		501		48		—			1,811
Vehicle interest, net	204		48		12		—			264
Adjusted EBITDA	500		240		15		(47		)	708
Non-vehicle depreciation and amortization	102		49		1		—			152
Segment assets exclusive of assets under vehicle programs	3,748		1,779		80		225			5,832
Assets under vehicle programs	7,967		2,136		349		—			10,452
Capital expenditures (excluding vehicles)	99		53		—		—			152

__________ 

^(a) Primarily represents unallocated corporate overhead, receivables from our former subsidiaries and debt financing fees related to our corporate debt.

Year Ended December 31, 2012

	North America		International		Truck Rental		Corporate and Other (a)			Total
Net revenues	$	4,640	$	2,342	$	374	$	1		$	7,357
Vehicle depreciation and lease charges, net	943		483		45		—			1,471
Vehicle interest, net	246		38		13		—			297
Adjusted EBITDA	556		234		33		(21		)	802
Non-vehicle depreciation and amortization	78		46		1		—			125
Segment assets exclusive of assets under vehicle programs	3,065		1,740		90		224			5,119
Assets under vehicle programs	7,394		2,300		405		—			10,099
Capital expenditures (excluding vehicles)	72		60		—		—			132

__________ 

^(a)  Primarily represents unallocated corporate overhead, receivables from our former subsidiaries and debt financing fees related to our corporate debt.

Year Ended December 31, 2011

	North America		International		Truck Rental		Corporate and Other (a)			Total
Net revenues	$	4,495	$	1,028	$	376	$	1		$	5,900
Vehicle depreciation and lease charges, net	969		209		45		—			1,223
Vehicle interest, net	263		11		12		—			286
Adjusted EBITDA	442		127		49		(13		)	605
Non-vehicle depreciation and amortization	80		14		1		—			95
Segment assets exclusive of assets under vehicle programs	2,112		1,464		88		184			3,848
Assets under vehicle programs	6,674		2,109		307		—			9,090
Capital expenditures (excluding vehicles)	54		10		1		—			65

__________ 

^(a)  Primarily represents unallocated corporate overhead, receivables from our former subsidiaries and debt financing fees related to our corporate debt.

Reconciliation of Adjusted EBITDA to Income (Loss)

Provided below is a reconciliation of Adjusted EBITDA to income before income taxes.

		For the Year Ended December 31,
		2013		2012		2011
Adjusted EBITDA (a)		$	708	$	802	$	605
Less: Non-vehicle related depreciation and amortization		152		125		95
	Interest expense related to corporate debt, net	228		268		219
	Early extinguishment of debt	147		75		—
	Transaction-related costs	51		34		255
	Impairment	33		—		—
Income before income taxes		$	97	$	300	$	36

__________

^(a)  Adjusted EBITDA includes restructuring costs of $61 million, $38 million and $5 million for the years ended December 31, 2013, 2012 and 2011, respectively.

Summary of Geographic Segment Information

The geographic segment information provided below is classified based on the geographic location of the Company’s subsidiaries.

	United States		All Other Countries		Total
2013
Net revenues	$	5,030	$	2,907	$	7,937
Assets exclusive of assets under vehicle programs	3,729		2,103		5,832
Assets under vehicle programs	7,791		2,661		10,452
Property and equipment, net	424		190		614
2012
Net revenues	$	4,637	$	2,720	$	7,357
Assets exclusive of assets under vehicle programs	3,094		2,025		5,119
Assets under vehicle programs	7,329		2,770		10,099
Property and equipment, net	366		163		529
2011
Net revenues	$	4,489	$	1,411	$	5,900
Assets exclusive of assets under vehicle programs	2,177		1,671		3,848
Assets under vehicle programs	6,553		2,537		9,090
Property and equipment, net	365		128		493