SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2022

Schedule Of Segment Revenue and Net Before Tax Information by Segment

The following tables set forth financial information for each of our segments and provide a reconciliation between segment EBT and earnings from continuing operations before income taxes.


	Years ended December 31,
(In millions)	2022		2021		2020
Revenue:
Fleet Management Solutions:
ChoiceLease	$	3,203	$	3,220	$	3,160
Commercial rental	1,351		1,114		834
SelectCare and other	659		607		584
Fuel services and ChoiceLease liability insurance (1)	1,114		739		593
Fleet Management Solutions	6,327		5,680		5,171
Supply Chain Solutions	4,720		3,155		2,544
Dedicated Transportation Solutions	1,786		1,457		1,229
Eliminations (2)	(822)		(629)		(524)
Total revenue	$	12,011	$	9,663	$	8,420

Earnings (loss) from continuing operations before income taxes:
Fleet Management Solutions	$	1,054	$	663	$	(142)
Supply Chain Solutions	186		117		160
Dedicated Transportation Solutions	102		49		73
Eliminations	(115)		(78)		(43)
	1,227		751		48
Unallocated Central Support Services	(83)		(69)		(77)
Non-operating pension costs, net (3)	(11)		1		(11)
Other items impacting comparability, net (4)	83		10		(90)
Earnings (loss) from continuing operations before income taxes	$	1,216	$	693	$	(130)

_______________

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

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

(3)Refer to Note 19, "Employee Benefit Plans," for a discussion on these items.

(4)Refer to Note 21, “Other Items Impacting Comparability,” for a discussion of items excluded from our primary measure of segment performance.

Schedule of Segment Information by Segment

The following table sets forth depreciation expense, other non-cash charges, net, intangible amortization expense, interest expense (income), capital expenditures paid and total assets for the years ended December 31, 2022, 2021 and 2020, as provided to the chief operating decision-maker for each of our reportable business segments:


(In millions)	FMS		SCS	DTS	CSS	Eliminations		Total
2022

Depreciation expense (1)	$	1,618	91	3	1	$	—	$	1,713


Other non-cash charges, net (2)	$	90	173	4	13	—		$	280
Intangible amortization expense	$	3	34	—	—	—		$	37
Interest expense (income) (3)	$	219	10	(2)	1	—		$	228
Capital expenditures paid	$	2,442	155	2	32	—		$	2,631
Total assets	$	10,811	3,043	380	904	(743)		$	14,395
2021

Depreciation expense (1)	$	1,736	47	3	—	—		$	1,786


Other non-cash charges, net (2)	$	39	78	3	(5)	—		$	115
Intangible amortization expense	$	2	6	—	—	—		$	8
Interest expense (income) (3)	$	214	3	(3)	—	—		$	214
Capital expenditures paid	$	1,854	67	1	19	—		$	1,941
Total assets	$	11,000	2,320	318	555	(358)		$	13,835
2020

Depreciation expense (1)	$	1,981	39	3	4	—		$	2,027


Other non-cash charges, net (2)	$	133	64	1	2	—		$	200
Intangible amortization expense	$	3	5	—	—	—		$	8
Interest expense (income) (3)	$	255	1	(3)	8	—		$	261
Capital expenditures paid	$	1,090	38	1	17	—		$	1,146
Total assets	$	11,275	1,313	296	328	(280)		$	12,932

_______________

(1)Depreciation expense totaling $27 million in 2022, $26 million in 2021, and $27 million in 2020 associated with CSS assets was allocated to business segments based upon estimated and planned asset utilization.

(2)Includes primarily amortization of operating lease right-of-use assets and sales commissions, and bad debt expense.

(3)Interest expense was primarily allocated to the FMS segment since such borrowings were used principally to fund the purchase of revenue earning equipment used in FMS; however, interest was also reflected in SCS and DTS based on targeted segment leverage ratios.

Schedule of Geographic Information

Geographic Information


	December 31,
(In millions)	2022		2021
Long-lived assets:
United States	$	8,755	$	8,478
Foreign:
Canada	494		531
Europe	22		242
Mexico	67		57


	583		830
Total	$	9,338	$	9,308