Segment Information

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company’s chief operating decision maker assesses performance and allocates resources based upon the separate financial information from the Company’s operating segments. In identifying its reportable segments, the Company considered the nature of services provided, the geographical areas in which the segments operated and other relevant factors. The Company aggregates certain of its operating segments into its reportable segments.

Management evaluates the operating results of each of its reportable segments based upon revenue and “Adjusted EBITDA,” which the Company defines as income from continuing operations before non-vehicle related depreciation and amortization, any impairment charge, restructuring expense, early extinguishment of debt costs, non-vehicle related interest, transaction-related costs and income taxes. The Company’s presentation of Adjusted EBITDA may not be comparable to similarly-titled measures used by other companies.

Year Ended December 31, 2014

	North America		International		Truck Rental		Corporate and Other (a)			Total
Net revenues	$	5,533	$	2,588	$	364	$	—		$	8,485
Vehicle depreciation and lease charges, net	1,413		517		66		—			1,996
Vehicle interest, net	221		50		11		—			282
Adjusted EBITDA	607		290		39		(60		)	876
Non-vehicle depreciation and amortization	120		59		1		—			180
Assets exclusive of assets under vehicle programs	3,881		1,778		77		175			5,911
Assets under vehicle programs	8,745		1,967		346		—			11,058
Capital expenditures (excluding vehicles)	107		72		3		—			182

__________ 

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

Year Ended December 31, 2013

	North America		International		Truck Rental		Corporate and Other (a)			Total
Net revenues	$	5,042	$	2,522	$	373	$	—		$	7,937
Vehicle depreciation and lease charges, net	1,254		509		48		—			1,811
Vehicle interest, net	203		49		12		—			264
Adjusted EBITDA	508		272		36		(47		)	769
Non-vehicle depreciation and amortization	101		50		1		—			152
Assets exclusive of assets under vehicle programs	3,718		1,809		80		225			5,832
Assets under vehicle programs	7,939		2,164		349		—			10,452
Capital expenditures (excluding vehicles)	98		54		—		—			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	557		270		34		(21		)	840
Non-vehicle depreciation and amortization	78		46		1		—			125
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.

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

		For the Year Ended December 31,
		2014		2013		2012
Adjusted EBITDA		$	876	$	769	$	840
Less: Non-vehicle related depreciation and amortization		180		152		125
	Interest expense related to corporate debt, net	209		228		268
	Early extinguishment of corporate debt	56		147		75
	Restructuring expense	26		61		38
	Transaction-related costs, net	13		51		34
	Impairment	—		33		—
Income before income taxes		$	392	$	97	$	300

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

	United States		All Other Countries		Total
2014
Net revenues	$	5,471	$	3,014	$	8,485
Assets exclusive of assets under vehicle programs	3,859		2,052		5,911
Assets under vehicle programs	8,428		2,630		11,058
Net long-lived assets	1,481		885		2,366
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
Net long-lived assets	1,281		947		2,228
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
Net long-lived assets	723		912		1,635