SEGMENT REPORTING

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING Our primary measurement of segment financial performance, defined as segment "Earnings from continuing operations before income taxes" (EBT), includes an allocation of costs from Central Support Services (CSS) and excludes Non-operating pension costs, net and certain other items as discussed in Note 15, "Other Items Impacting Comparability." Segment results are not necessarily indicative of the results of operations that would have occurred had each segment been an independent, stand-alone entity during the periods presented.

The following table sets forth financial information for each of our segments and provides a reconciliation between segment EBT and earnings from continuing operations before income taxes:

	Three months ended September 30,				Nine months ended September 30,
(In thousands)	2022		2021		2022		2021
Revenue:
Fleet Management Solutions:
ChoiceLease	$	791,156	$	799,557	$	2,396,075	$	2,399,477
Commercial rental	349,550		300,640		1,003,380		790,618
SelectCare and other	162,520		147,384		492,878		450,272
Fuel services and ChoiceLease liability insurance (1)	278,644		188,759		839,860		539,699
Fleet Management Solutions	1,581,870		1,436,340		4,732,193		4,180,066
Supply Chain Solutions	1,206,508		802,357		3,469,008		2,284,687
Dedicated Transportation Solutions	454,328		380,357		1,329,504		1,055,575
Eliminations (2)	(207,242)		(160,005)		(607,717)		(457,420)
Total revenue	$	3,035,464	$	2,459,049	$	8,922,988	$	7,062,908
Earnings from continuing operations before income taxes:
Fleet Management Solutions	$	265,301	$	186,391	$	798,822	$	408,244
Supply Chain Solutions	63,974		22,161		150,833		96,159
Dedicated Transportation Solutions	28,150		11,324		71,517		37,468
Eliminations	(28,007)		(21,065)		(83,771)		(52,525)
	329,418		198,811		937,401		489,346
Unallocated Central Support Services	(21,041)		(17,027)		(60,813)		(53,323)
Non-operating pension costs, net (3)	(2,647)		148		(8,015)		530
Other items impacting comparability, net (4)	28,474		1,274		55,873		20,493
Earnings from continuing operations before income taxes	$	334,204	$	183,206	$	924,446	$	457,046

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(1)In the first quarter of 2021, we completed the previously announced exit of the extension of our liability insurance coverage for ChoiceLease customers.

(2)Represents the elimination of intercompany revenue in our FMS business segment.

(3)Refer to Note 14, "Employee Benefit Plans," for a discussion on this item.

(4)Refer to Note 15, "Other Items Impacting Comparability," for a discussion of items excluded from our primary measure of segment performance.

The following table sets forth the capital expenditures paid for each of our segments:

	Three months ended September 30,				Nine months ended September 30,
(In thousands)	2022		2021		2022		2021
Fleet Management Solutions	$	655,734	$	498,099	$	1,767,573	$	1,369,681
Supply Chain Solutions	58,820		21,224		124,395		44,204
Dedicated Transportation Solutions	251		299		1,705		861
Central Support Services	6,887		3,664		23,031		12,938
Purchases of property and revenue earning equipment	$	721,692	$	523,286	$	1,916,704	$	1,427,684