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Segment Information | 12 Months Ended
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Dec. 31, 2019
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company’s chief operating decision maker assesses performance and allocates resources based upon the separate financial information from the Company’s operating segments. In identifying its reportable segments, the Company considered the nature of services provided, the geographical areas in which the segments operated and other relevant factors. The Company aggregates certain of its operating segments into its reportable segments. Management evaluates the operating results of each of its reportable segments based upon revenues and “Adjusted EBITDA,” which the Company defines as income from continuing operations before non-vehicle related depreciation and amortization, any impairment charges, restructuring and other related charges, early extinguishment of debt costs, non-vehicle related interest, transaction-related costs, net charges for unprecedented personal-injury legal matters, non-operational charges related to shareholder activist activity, gain on sale of equity method investment in China and income taxes. Net charges for unprecedented personal-injury legal matters and gain on sale of equity method investment in China are recorded within operating expenses in the Company’s Consolidated Statements of Operations. Non-operational charges related to shareholder activist activity include third-party advisory, legal and other professional service fees and are recorded within selling, general and administrative expenses in the Company’s Consolidated Statements of Operations. The Company has revised its definition of Adjusted EBITDA to exclude the gain on sale of equity method investment in China. The Company did not revise prior years’ Adjusted EBITDA amounts because there were no gains similar in nature to this gain. The Company’s presentation of Adjusted EBITDA may not be comparable to similarly-titled measures used by other companies. Year Ended December 31, 2019
| Americas |  | International |  | Corporate and Other (a) |  | Total
Revenues | $ | 6,352 |  |  | $ | 2,820 |  |  | $ | — |  |  | $ | 9,172 |
Vehicle depreciation and lease charges, net | 1,462 |  |  | 601 |  |  | — |  |  | 2,063 |
Vehicle interest, net | 284 |  |  | 60 |  |  | — |  |  | 344 |
Adjusted EBITDA | 652 |  |  | 203 |  |  | (67 | ) |  | 788 |
Non-vehicle depreciation and amortization | 161 |  |  | 94 |  |  | 8 |  |  | 263 |
Assets exclusive of assets under vehicle programs | 6,226 |  |  | 2,995 |  |  | 90 |  |  | 9,311 |
Assets under vehicle programs | 10,508 |  |  | 3,307 |  |  | — |  |  | 13,815 |
Capital expenditures (excluding vehicles) | 162 |  |  | 62 |  |  | 26 |  |  | 250 |
__________
(a) | Primarily represents unallocated corporate expenses and receivables from our former subsidiaries.
Year Ended December 31, 2018
| Americas |  | International |  | Corporate and Other (a) |  | Total
Revenues | $ | 6,186 |  |  | $ | 2,938 |  |  | $ | — |  |  | $ | 9,124 |
Vehicle depreciation and lease charges, net | 1,568 |  |  | 611 |  |  | — |  |  | 2,179 |
Vehicle interest, net | 252 |  |  | 62 |  |  | — |  |  | 314 |
Adjusted EBITDA | 558 |  |  | 287 |  |  | (64 | ) |  | 781 |
Non-vehicle depreciation and amortization | 152 |  |  | 104 |  |  | — |  |  | 256 |
Assets exclusive of assets under vehicle programs | 3,782 |  |  | 2,495 |  |  | 93 |  |  | 6,370 |
Assets under vehicle programs | 9,670 |  |  | 3,109 |  |  | — |  |  | 12,779 |
Capital expenditures (excluding vehicles) | 134 |  |  | 76 |  |  | 21 |  |  | 231 |
__________
(a) | Primarily represents unallocated corporate expenses and receivables from our former subsidiaries.
Year Ended December 31, 2017
| Americas |  | International |  | Corporate and Other (a) |  | Total
Revenues | $ | 6,100 |  |  | $ | 2,748 |  |  | $ | — |  |  | $ | 8,848 |
Vehicle depreciation and lease charges, net | 1,671 |  |  | 550 |  |  | — |  |  | 2,221 |
Vehicle interest, net | 226 |  |  | 60 |  |  | — |  |  | 286 |
Adjusted EBITDA | 486 |  |  | 305 |  |  | (56 | ) |  | 735 |
Non-vehicle depreciation and amortization | 168 |  |  | 91 |  |  | — |  |  | 259 |
Assets exclusive of assets under vehicle programs | 3,388 |  |  | 2,353 |  |  | 79 |  |  | 5,820 |
Assets under vehicle programs | 9,017 |  |  | 2,862 |  |  | — |  |  | 11,879 |
Capital expenditures (excluding vehicles) | 122 |  |  | 62 |  |  | 13 |  |  | 197 |
__________
(a) | Primarily represents unallocated corporate expenses and receivables from our former subsidiaries.
Provided below is a reconciliation of Adjusted EBITDA to income before income taxes.
|  | For the Year Ended December 31,
|  | 2019 |  | 2018 |  | 2017
Adjusted EBITDA | $ | 788 |  |  | $ | 781 |  |  | $ | 735 |
Less: Non-vehicle related depreciation and amortization (a) | 263 |  |  | 256 |  |  | 259 |
| Interest expense related to corporate debt, net | 178 |  |  | 188 |  |  | 188 |
| Early extinguishment of corporate debt | 12 |  |  | 19 |  |  | 3 |
| Restructuring and other related charges | 80 |  |  | 22 |  |  | 63 |
| Transaction-related costs, net | 10 |  |  | 20 |  |  | 23 |
| Non-operational charges related to shareholder activist activity (b) | 2 |  |  | 9 |  |  | — |
| Impairment | — |  |  | — |  |  | 2 |
| Charges for legal matter, net (c) | — |  |  | — |  |  | (14 | )
| Gain on sale of equity method investment in China (c) | (44 | ) |  | — |  |  | — |
Income before income taxes | $ | 287 |  |  | $ | 267 |  |  | $ | 211 |
__________
(a) | Inc ludes amortization of intangible assets recognized in purchase accounting of $56 million in 2019, $61 million in 2018 and $58 million in 2017.
(b) | Reported within selling, general and administrative expenses in our Consolidated Statements of Operations.
(c) | Reported within operating expenses in our Consolidated Statements of Operations.
The geographic segment information provided below is classified based on the geographic location of the Company’s subsidiaries.
| United States |  | All Other Countries |  | Total
2019 |  |  |  |  |
Revenues | $ | 5,867 |  |  | $ | 3,305 |  |  | $ | 9,172 |
Assets exclusive of assets under vehicle programs | 5,830 |  |  | 3,481 |  |  | 9,311 |
Assets under vehicle programs | 9,824 |  |  | 3,991 |  |  | 13,815 |
Net long-lived assets | 1,536 |  |  | 1,155 |  |  | 2,691 |
2018 |  |  |  |  |
Revenues | $ | 5,708 |  |  | $ | 3,416 |  |  | $ | 9,124 |
Assets exclusive of assets under vehicle programs | 3,494 |  |  | 2,876 |  |  | 6,370 |
Assets under vehicle programs | 9,021 |  |  | 3,758 |  |  | 12,779 |
Net long-lived assets | 1,476 |  |  | 1,177 |  |  | 2,653 |
2017 |  |  |  |  |
Revenues | $ | 5,629 |  |  | $ | 3,219 |  |  | $ | 8,848 |
Assets exclusive of assets under vehicle programs | 3,069 |  |  | 2,751 |  |  | 5,820 |
Assets under vehicle programs | 8,192 |  |  | 3,687 |  |  | 11,879 |
Net long-lived assets | 1,451 |  |  | 1,176 |  |  | 2,627 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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