Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Segments Information

We believe Adjusted EBITDA is useful as a supplemental measure in evaluating the performance of our operating businesses and in comparing our results from period to period. We also believe that Adjusted EBITDA is useful to investors because it allows them to assess our results of operations and financial condition on the same basis that management uses internally. Our presentation of Adjusted EBITDA may not be comparable to similarly titled measures used by other companies.

			Three Months Ended June 30,
			2024				2023
			Revenues		Adjusted EBITDA		Revenues		Adjusted EBITDA
Americas			$	2,361	$	186	$	2,428	$	631
International			687		48		695		126
Corporate and Other (a)			—		(20)		—		(20)
	Total Company		$	3,048	$	214	$	3,123	$	737
Reconciliation of Adjusted EBITDA to Income before income taxes:
					2024				2023
Adjusted EBITDA					$	214			$	737
Less:		Non-vehicle related depreciation and amortization			58				52
		Interest expense related to corporate debt, net:
		Interest expense			88				68
		Early extinguishment of debt			1				—
		Restructuring and other related charges			14				1
		Transaction-related costs, net			1				—
		Other (income) expense, net (b)			2				4
		Reported within operating expenses:
		Cloud computing costs			11				9
		Legal matters, net			12				5
Income before income taxes					$	27			$	598

__________

(a)Includes unallocated corporate overhead which is not attributable to a particular segment.

(b)Primarily consists of gains or losses related to our equity investment in a former subsidiary, offset by fleet related and certain administrative services provided to the same former subsidiary.

			Six Months Ended June 30,
			2024				2023
			Revenues		Adjusted EBITDA		Revenues		Adjusted EBITDA
Americas			$	4,354	$	230	$	4,444	$	1,147
International			1,245		33		1,236		176
Corporate and Other (a)			—		(37)		—		(51)
	Total Company		$	5,599	$	226	$	5,680	$	1,272
Reconciliation of Adjusted EBITDA to Income (loss) before income taxes:
					2024				2023
Adjusted EBITDA					$	226			$	1,272
Less:		Non-vehicle related depreciation and amortization			119				108
		Interest expense related to corporate debt, net:
		Interest expense			171				141
		Early extinguishment of debt			1				—
		Restructuring and other related charges			17				5
		Transaction-related costs, net			2				—
		Other (income) expense, net (b)			3				2
		Reported within operating expenses:
		Cloud computing costs			21				16
		Legal matters, net			7				5
Income (loss) before income taxes					$	(115)			$	995

________

(a)Includes unallocated corporate overhead which is not attributable to a particular segment.

(b)Primarily consists of gains or losses related to our equity investment in a former subsidiary, offset by fleet related and certain administrative services provided to the same former subsidiary.