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Segment Information
9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
Our chief operating decision-maker assesses performance and allocates resources based upon the separate financial information from each of our operating segments. In identifying our reportable segments, we considered the nature of services provided, the geographical areas in which the segments operated and other relevant factors. We aggregate certain of our operating segments into our reportable segments.

Management evaluates the operating results of each of its reportable segments based upon revenues and “Adjusted EBITDA,” which we define as income (loss) from continuing operations before non-vehicle related depreciation and amortization, any impairment charges, restructuring and other related charges, early extinguishment of debt costs, non-vehicle related interest, transaction-related costs, net, charges for unprecedented personal-injury and other legal matters, net, which includes amounts recorded in excess of $5 million related to class action lawsuits, non-operational charges related to shareholder activist activity, which include third party advisory, legal and other professional service fees, COVID-19 charges, other (income) expense, net and income taxes. COVID-19 charges include unusual, direct and incremental costs due to the COVID-19 pandemic such as minimum annual guaranteed rent in excess of concession fees for the period, overflow parking for idle vehicles and related shuttling costs, incremental cleaning supplies to sanitize vehicles and facilities, and losses associated with vehicles damaged in overflow parking lots, net of insurance proceeds. We revised our definition of Adjusted EBITDA to exclude other (income) expense, net. We did not revise prior years’ Adjusted EBITDA because there were no other charges similar in nature. Our presentation of Adjusted EBITDA may not be comparable to similarly-titled measures used by other companies.
 Three Months Ended September 30,
 20222021
RevenuesAdjusted EBITDARevenuesAdjusted EBITDA
Americas$2,703 $1,185 $2,403 $952 
International844 291 598 128 
Corporate and Other (a)
— (16)— (23)
Total Company$3,547 $1,460 $3,001 $1,057 
Reconciliation of Adjusted EBITDA to income before income taxes:
20222021
Adjusted EBITDA$1,460 $1,057 
Less:
Non-vehicle related depreciation and amortization (b)
6169
Interest expense related to corporate debt, net:
Interest expense64 47 
Early extinguishment of debt— 
Restructuring and other related charges
Unprecedented personal-injury and other legal
   matters, net (c)
— 
Transaction-related costs, net— 
COVID-19 charges (d)
— (6)
Other (income) expense, net (e)
(9)— 
Income before income taxes$1,342 $929 
__________
(a)Includes unallocated corporate overhead which is not attributable to a particular segment.
(b)For the three months ended September 30, 2022, includes operating expenses in our Consolidated Condensed Statements of Comprehensive Income related to cloud computing costs of $2 million.
(c)Reported within operating expenses.
(d)The following table presents the unusual, direct and incremental costs due to the COVID-19 pandemic:
20222021
Minimum annual guaranteed rent in excess of concession fees, net$— $(4)
Vehicles damaged in overflow parking lots, net of insurance proceeds— (3)
Other charges— 
Operating expenses$— $(6)
COVID-19 charges, net$— $(6)
(e)Primarily relates to a gain upon deconsolidation of a former subsidiary.
Nine Months Ended September 30,
20222021
RevenuesAdjusted EBITDARevenuesAdjusted EBITDA
Americas$7,270 $3,036 $5,457 $1,694 
International1,953 497 1,287 86 
Corporate and Other (a)
— (58)— (52)
Total Company$9,223 $3,475 $6,744 $1,728 
Reconciliation of Adjusted EBITDA to income before income taxes:
20222021
Adjusted EBITDA$3,475 $1,728 
Less:
Non-vehicle related depreciation and amortization (b)
174204
Interest expense related to corporate debt, net:
Interest expense181 167 
Early extinguishment of debt— 136 
Restructuring and other related charges16 47 
Unprecedented personal-injury and other legal
   matters, net (c)
(6)
Transaction-related costs, net
COVID-19 charges (d)
(9)12 
Other (income) expense, net (e)
(9)— 
Income before income taxes$3,120 $1,165 
__________
(a)Includes unallocated corporate overhead which is not attributable to a particular segment.
(b)For the nine months ended September 30, 2022 and 2021, includes operating expenses in our Consolidated Condensed Statements of Operations related to cloud computing costs of $6 million and $5 million, respectively.
(c)Reported within operating expenses.
(d)The following table presents the unusual, direct and incremental costs due to the COVID-19 pandemic:

20222021
Minimum annual guaranteed rent in excess of concession fees, net$(9)$12 
Vehicles damaged in overflow parking lots, net of insurance proceeds— (7)
Other charges— 
Operating expenses(9)11 
Selling, general and administrative expenses— 
COVID-19 charges, net$(9)$12 
(e)Primarily relates to a gain upon deconsolidation of a former subsidiary.

Since December 31, 2021, there have been no significant changes in segment assets exclusive of assets under vehicle programs. As of September 30, 2022 and December 31, 2021, Americas’ segment assets under vehicle programs were approximately $13.8 billion and $11.4 billion, respectively. The change in assets under vehicle programs is primarily due to the increase in the size of our vehicle rental fleet to meet the increase in rental demand.