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Segment Information
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
Our chief operating decision-maker assesses performance and allocates resources based upon the separate financial information of our operating segments. In identifying our reportable segments, we also consider the nature of services provided by our operating segments, the geographical areas in which the segments operate and other relevant factors. We aggregate certain of our operating segments into our reportable segments.

Management evaluates the operating results of each of our 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; legal matters, which includes amounts recorded in excess of $5 million related to class action lawsuits and personal injury matters; non-operational charges related to shareholder activist activity, which includes third-party advisory, legal and other professional fees; COVID-19 charges, net; cloud computing costs; other (income) expense, net; and income taxes.
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 September 30,
 20242023
RevenuesAdjusted EBITDARevenuesAdjusted EBITDA
Americas$2,640 $384 $2,736 $740 
International840 139 828 196 
Corporate and Other (a)
— (20)— (29)
Total Company$3,480 $503 $3,564 $907 
Reconciliation of Adjusted EBITDA to Income before income taxes:
20242023
Adjusted EBITDA$503 $907 
Less:Non-vehicle related depreciation and amortization58 55 
Interest expense related to corporate debt, net:
Interest expense95 80 
Early extinguishment of debt— 1 
Restructuring and other related charges6 2 
Transaction-related costs, net— 3 
Other (income) expense, net (b)
3 1 
Reported within operating expenses:
Cloud computing costs12 8 
Income before income taxes$329 $757 
__________
(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.
 Nine Months Ended September 30,
 20242023
RevenuesAdjusted EBITDARevenuesAdjusted EBITDA
Americas$6,994 $614 $7,180 $1,887 
International2,085 172 2,064 372 
Corporate and Other (a)
— (57)— (80)
Total Company$9,079 $729 $9,244 $2,179 
Reconciliation of Adjusted EBITDA to Income before income taxes:
20242023
Adjusted EBITDA$729 $2,179 
Less:Non-vehicle related depreciation and amortization177 163 
Interest expense related to corporate debt, net:
Interest expense266 221 
Early extinguishment of debt1 1 
Restructuring and other related charges23 7 
Transaction-related costs, net2 3 
Other (income) expense, net (b)
6 3 
Reported within operating expenses:
Cloud computing costs33 24 
Legal matters, net7 5 
Income before income taxes$214 $1,752 
________
(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.

Since December 31, 2023, there have been no significant changes in segment assets exclusive of assets under vehicle programs. As of September 30, 2024 and December 31, 2023, International’s segment assets under vehicle programs were approximately $4.1 billion and $3.7 billion, respectively. This increase in assets under vehicle programs is directly correlated to the size and cost of our vehicle fleet.