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SEGMENT REPORTING (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Revenue and Net Before Tax Information by Segment

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 millions)						2023						2022						2023						2022
Revenue:
Fleet Management Solutions:
ChoiceLease						$	799					$	772					$	2,356					$	2,299
Commercial rental						293						349						898						991
SelectCare and other						174						159						528						460
FMS Europe (1)						—						23						—						142
Fuel services revenue						221						279						667						840
Fleet Management Solutions						1,487						1,582						4,449						4,732
Supply Chain Solutions						1,194						1,206						3,574						3,469
Dedicated Transportation Solutions						448						455						1,342						1,330
Eliminations (2)						(205)						(208)						(605)						(608)
Total revenue						$	2,924					$	3,035					$	8,760					$	8,923
Earnings from continuing operations before income taxes:
Fleet Management Solutions						$	169					$	266					$	531					$	801
Supply Chain Solutions						81						71						174						176
Dedicated Transportation Solutions						28						28						90						72
Eliminations						(23)						(27)						(73)						(84)
						255						338						722						965
Unallocated Central Support Services						(20)						(21)						(54)						(61)
Intangible amortization expense (3)						(8)						(8)						(25)						(27)
Non-operating pension costs, net (4)						(10)						(3)						(30)						(8)
Other items impacting comparability, net (5)						(4)						28						(155)						55
Earnings from continuing operations before income taxes						$	213					$	334					$	458					$	924

————————————

(1)Refer to Note 13, "Other Items Impacting Comparability" for further information on the FMS U.K. business exit.

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

(3)Included within "Selling, general and administrative expenses" in our Condensed Consolidated Statements of Earnings.

(4)Refer to Note 12, "Employee Benefit Plans," for a discussion on this item.

(5)Refer to Note 13, "Other Items Impacting Comparability," for a discussion of items excluded from our primary measure of segment performance.

Schedule of Financial Information of Business Segments

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 millions)						2023						2022						2023						2022
Fleet Management Solutions						$	754					$	656					$	2,346					$	1,768
Supply Chain Solutions						44						58						88						124
Dedicated Transportation Solutions						—						1						1						2
Central Support Services						7						7						22						23
Purchases of property and revenue earning equipment						$	805					$	722					$	2,457					$	1,917

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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