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SEGMENT REPORTING
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
Our operating segments are aggregated into reportable business segments based upon similar economic characteristics, products, services, customers and delivery methods.

Our primary measurement of segment financial performance, defined as “Earnings from continuing operations before income taxes” (Segment EBT), includes an allocation of costs from Central Support Services (CSS) and excludes Non-operating pension costs, net, intangible amortization expense, and certain other items as discussed in Note 20, "Other Items Impacting Comparability." The objective of the Segment EBT measurement is to provide clarity on the profitability of each business segment and, ultimately, to hold leadership of each business segment accountable for their allocated share of CSS costs. CSS represents those costs incurred to support all business segments, including information technology, finance, marketing, human resources, legal, and safety. These costs are allocated based on various methods, including resource utilization, personnel supported and utilization-related metrics. Certain costs are not attributable to any segment and remain unallocated in CSS, including costs for investor relations, public affairs and certain executive compensation. CSS costs attributable to the business segments are predominantly allocated to FMS, SCS and DTS.

Our FMS segment leases revenue earning equipment and provides fuel, maintenance and other ancillary services to the SCS and DTS segments. Inter-Segment EBT allocated to SCS and DTS includes earnings related to equipment used to provide services to SCS and DTS customers. Segment EBT related to inter-segment equipment and services billed to SCS and DTS customers (Equipment Contribution) are included in both FMS and the segment that served the customer and then eliminated upon consolidation (presented as “Eliminations”). 
The following table set forth financial information regularly provided and reviewed by our Chair and Chief Executive Officer (our Chief Operating Decision Maker), to analyze financial performance, make strategic decisions and allocate resources. The table also provides a reconciliation between Segment EBT and Earnings from continuing operations before income taxes (in millions):

2024FMSSCSDTS
Elimination(1)
Total
Revenue $5,888 $5,300 $2,446 $(998)$12,636 
Direct operating costs4,638 4,735 2,270 
Used vehicle sales, net(72)— — 
Other segment items (3)
806 233 51 
Segment EBT
$516 $332 $125 $(134)839 
Unallocated Central Support Services(71)
Intangible amortization expense (4)
(53)
Non-operating pension costs, net (5)
(41)
Other items impacting comparability, net (6)
(13)
Earnings from continuing operations before income taxes$661 
2023
Revenue$5,930 $4,875 $1,785 $(807)$11,783 
Direct operating costs4,651 4,420 1,634 
Used vehicle sales, net (2)
(194)— — 
Other segment items (3)
808 224 30 
Segment EBT
$665 $231 $121 $(95)922 
Unallocated Central Support Services(72)
Intangible amortization expense (4)
(35)
Non-operating pension costs, net (5)
(40)
Other items impacting comparability, net (6)
(157)
Earnings from continuing operations before income taxes$618 
2022
Revenue$6,327 $4,720 $1,786 $(822)$12,011 
Direct operating costs4,845 4,253 1,670 
Used vehicle sales, net (2)
(401)— — 
Other segment items (3)
826 249 13 
Segment EBT
$1,057 $218 $103 $(114)1,264 
Unallocated Central Support Services(83)
Intangible amortization expense (4)
(37)
Non-operating pension costs, net (5)
(11)
Other items impacting comparability, net (6)
83 
Earnings from continuing operations before income taxes$1,216 
_______________ 
(1)Represents the intercompany revenues in our FMS business segment and Inter-Segment EBT.
(2)In 2023, and 2022, Used vehicle sales, net gain of $2 million and $49 million, respectively, related to the FMS U.K.business exit is included in Other Items Impacting Comparability, net.
(3)Other segment items for each reportable segment include indirect costs and also include Equipment Contribution for SCS and DTS. 
(4)Refer to Note 9, "Intangible Assets, Net," for a discussion on this item.
(5)Refer to Note 19, "Employee Benefit Plans," for a discussion on this items.
(6)Refer to Note 20, “Other Items Impacting Comparability,” for a discussion of items excluded from our primary measure of segment performance.
The following table sets forth additional segment items as of and for the years ended presented:
(In millions)FMSSCSDTSCSSEliminationsTotal
December 31, 2024
Depreciation expense (1)
$1,583 104 5 2 $— $1,694 
Other non-cash charges, net (2)
$192 267 14 61 — $534 
Interest expense (income) (3)
$362 17 8 (1)— $386 
Capital expenditures paid$2,616 50 1 16 — $2,683 
Total assets$12,073 3,673 765 1,333 (1,172)$16,672 
December 31, 2023
Depreciation expense (1)
$1,571 136 3 2 — $1,712 
Other non-cash charges, net (2)
$106 230 8 29 — $373 
Interest expense (income) (3)
$292 8 (3)(1)— $296 
Capital expenditures paid$3,085 117 1 31 — $3,234 
Total assets$11,588 3,717 384 1,026 (937)$15,778 
December 31, 2022
Depreciation expense (1)
$1,618 91 3 1 — $1,713 
Other non-cash charges, net (2)
$90 173 4 50 — $317 
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 
_______________ 
(1)Depreciation expense totaling $29 million in 2024, $28 million in 2023, and $27 million in 2022 associated with CSS assets was allocated to business segments based upon estimated and planned asset utilization.
(2)Primarily includes operating lease ROU assets amortization.
(3)Interest expense was primarily allocated to the FMS segment since borrowings were used principally to fund the purchase of FMS revenue earning equipment; however, interest was also reflected in SCS and DTS based on targeted segment leverage ratios.

Geographic Information
 December 31,
(In millions)20242023
Long-lived assets:
United States$9,758 $9,473 
Foreign:
Canada563 552 
Mexico69 84 
632 636 
Total$10,390 $10,109