Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

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. Adjusted EBITDA is a non-GAAP measure and should not be considered in isolation or as a substitute for net income or other income statement data prepared in accordance with U.S. GAAP.

Provided below is information about our revenues, significant segment expenses, reportable segment Adjusted EBITDA, and a reconciliation of reportable segment Adjusted EBITDA to loss before income taxes.

Three Months Ended March 31, 2025


	Americas		International		Total
Revenues	$	1,907	$	523	$	2,430
Significant segment expenses:
Operating (a)	1,064		274
Vehicle depreciation and lease charges, net (b)	533		132
Selling, general and administrative	200		87
Vehicle interest, net	177		33
Reportable segment Adjusted EBITDA	$	(67)	$	(3)	$	(70)

Reconciliation of reportable segment Adjusted EBITDA to loss before income taxes:
Non-vehicle related depreciation and amortization					55
Interest expense related to corporate debt, net					2



Other fleet charges					390
Restructuring and other related charges					22

Other (income) expense, net					6
Cloud computing costs					1
Corporate and other (c)					131
Loss before income taxes					$	(677)

__________

(a)Excludes cloud computing costs.

(b)Excludes other fleet charges related to the accelerated disposal of certain fleet in our Americas reportable segment. These costs relate to vehicles that were not included in the long-lived asset impairment and other related charges recorded in the year ended December 31, 2024.

(c)Includes unallocated corporate expenses, including $95 million in interest expense, which are not attributable to a particular reportable segment.

Three Months Ended March 31, 2024


	Americas		International		Total
Revenues	$	1,993	$	558	$	2,551
Significant segment expenses:
Operating (a)	1,052		289
Vehicle depreciation and lease charges, net	487		149
Selling, general and administrative	207		99
Vehicle interest, net	203		36
Reportable segment Adjusted EBITDA	$	44	$	(15)	$	29

Reconciliation of reportable segment Adjusted EBITDA to loss before income taxes:
Non-vehicle related depreciation and amortization					$	57
Interest expense related to corporate debt, net					2



Restructuring and other related charges					3
Transaction-related costs, net					1
Other (income) expense, net					1
Legal matters, net and cloud computing costs					(3)
Corporate and other (b)					110
Loss before income taxes					$	(142)

__________

(a)Excludes legal matters, net and cloud computing costs.

(b)Includes unallocated corporate expenses, including $81 million in interest expense, which are not attributable to a particular reportable segment.

Schedule of Geographic Segment Information

Provided below is information about our segment assets.


	Americas		International		Unallocated Assets (a)		Total

Three Months Ended March 31, 2025
Property and equipment additions	$	14	$	6	$	14	$	34
As of March 31, 2025
Assets exclusive of assets under vehicle programs	6,876		2,608		346		9,830
Assets under vehicle programs	15,851		3,363		—		19,214
Net long-lived assets	1,458		753		164		2,375

Year Ended December 31, 2024
Property and equipment additions	$	109	$	40	$	53	$	202
As of December 31, 2024
Assets exclusive of assets under vehicle programs	6,785		2,539		344		9,668
Assets under vehicle programs	16,058		3,315		—		19,373
Net long-lived assets	1,474		733		162		2,369

__________

(a)Includes unallocated corporate assets which are not attributable to a particular reportable segment.