Segment Information (Tables)

9 Months Ended

Sep. 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 September 30,
			2024				2023
			Revenues		Adjusted EBITDA		Revenues		Adjusted EBITDA
Americas			$	2,640	$	384	$	2,736	$	740
International			840		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:
					2024				2023
Adjusted EBITDA					$	503			$	907
Less:		Non-vehicle related depreciation and amortization			58				55
		Interest expense related to corporate debt, net:
		Interest expense			95				80
		Early extinguishment of debt			—				1
		Restructuring and other related charges			6				2
		Transaction-related costs, net			—				3
		Other (income) expense, net (b)			3				1
		Reported within operating expenses:
		Cloud computing costs			12				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,
			2024				2023
			Revenues		Adjusted EBITDA		Revenues		Adjusted EBITDA
Americas			$	6,994	$	614	$	7,180	$	1,887
International			2,085		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:
					2024				2023
Adjusted EBITDA					$	729			$	2,179
Less:		Non-vehicle related depreciation and amortization			177				163
		Interest expense related to corporate debt, net:
		Interest expense			266				221
		Early extinguishment of debt			1				1
		Restructuring and other related charges			23				7
		Transaction-related costs, net			2				3
		Other (income) expense, net (b)			6				3
		Reported within operating expenses:
		Cloud computing costs			33				24
		Legal matters, net			7				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.