XML 82 R50.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Segment Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Segment Reporting [Abstract] |
Summary of Operating Segments | Year Ended December 31, 2021
| Americas |  | International |  | Corporate and Other (a) |  | Total
Revenues | $ | 7,557 |  |  | $ | 1,756 |  |  | $ | — |  |  | $ | 9,313 |
Vehicle depreciation and lease charges, net | 851 |  |  | 346 |  |  | — |  |  | 1,197 |
Vehicle interest, net | 258 |  |  | 55 |  |  | — |  |  | 313 |
Adjusted EBITDA | 2,364 |  |  | 118 |  |  | (71) |  |  | 2,411 |
Non-vehicle depreciation and amortization | 178 |  |  | 84 |  |  | 10 |  |  | 272 |
Assets exclusive of assets under vehicle programs | 5,746 |  |  | 2,716 |  |  | 119 |  |  | 8,581 |
Assets under vehicle programs | 11,437 |  |  | 2,582 |  |  | — |  |  | 14,019 |
Capital expenditures (excluding vehicles) | 74 |  |  | 26 |  |  | 8 |  |  | 108 |
__________ (a)Primarily represents unallocated corporate expenses and receivables from our former subsidiaries. Year Ended December 31, 2020
| Americas |  | International |  | Corporate and Other (a) |  | Total
Revenues | $ | 3,965 |  |  | $ | 1,437 |  |  | $ | — |  |  | $ | 5,402 |
Vehicle depreciation and lease charges, net | 968 |  |  | 400 |  |  | — |  |  | 1,368 |
Vehicle interest, net | 274 |  |  | 44 |  |  | — |  |  | 318 |
Adjusted EBITDA | 72 |  |  | (202) |  |  | (45) |  |  | (175) |
Non-vehicle depreciation and amortization | 185 |  |  | 91 |  |  | 10 |  |  | 286 |
Assets exclusive of assets under vehicle programs | 5,510 |  |  | 2,754 |  |  | 101 |  |  | 8,365 |
Assets under vehicle programs | 7,155 |  |  | 2,018 |  |  | — |  |  | 9,173 |
Capital expenditures (excluding vehicles) | 65 |  |  | 29 |  |  | — |  |  | 94 |
__________ (a)Primarily represents unallocated corporate expenses and receivables from our former subsidiaries. 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.
Reconciliation of Adjusted EBITDA to Income (Loss) | Provided below is a reconciliation of Adjusted EBITDA to income (loss) before income taxes.
|  | For the Year Ended December 31,
|  | 2021 |  | 2020 |  | 2019
Adjusted EBITDA | $ | 2,411 |  |  | $ | (175) |  |  | $ | 788 |
Less: |  |  |  |  |
| Non-vehicle related depreciation and amortization (a) | 279 |  |  | 286 |  |  | 263 |
| Interest expense related to corporate debt, net |  |  |  |  |
| Interest expense | 218 |  |  | 231 |  |  | 178 |
| Early extinguishment of debt | 136 |  |  | 9 |  |  | 12 |
| COVID-19 charges (b) | (2) |  |  | 122 |  |  | — |
| Restructuring and other related charges | 64 |  |  | 118 |  |  | 80 |
| Unprecedented personal-injury and other legal matters, net (c) | 3 |  |  | 8 |  |  | — |
| Non-operational charges related to shareholder activist activity (d) | — |  |  | 4 |  |  | 2 |
| Transaction-related costs, net | 5 |  |  | 3 |  |  | 10 |
| Gain on sale of equity method investment in China (c) | — |  |  | — |  |  | (44) |
Income (loss) before income taxes | $ | 1,708 |  |  | $ | (956) |  |  | $ | 287 |
__________ (a) Inc ludes amortization of intangible assets recognized in purchase accounting of $66 million in 2021, $66 million in 2020 and $56 million in 2019. Includes operating expenses in our Consolidated Statement of Operations related to cloud computing costs of $7 million in 2021. (b) The following table presents the unusual, direct and incremental costs due to the COVID-19 pandemic:
| 2021 |  | 2020
Minimum annual guaranteed rent in excess of concession fees, net | $ | (2) |  |  | $ | 60 |
Vehicles damaged in overflow parking lots, net of insurance proceeds | (7) |  |  | 14 |
Incremental cleaning supplies to sanitize vehicles and facilities, and over flow parking for idle vehicles | — |  |  | 48 |
Other charges | 7 |  |  | — |
Operating expenses | $ | (3) |  |  | $ | 116 |
Vehicle depreciation and lease charges | — |  |  | 1 |
Selling, general and administrative expenses | 1 |  |  | 5 |
COVID-19 charges, net | $ | (2) |  |  | $ | 122 |
(c) Reported within operating expenses in our Consolidated Statements of Operations. (d) Reported within selling, general and administrative expenses in our Consolidated Statements of Operations.
Summary of Geographic Segment Information | The geographic segment information provided below is classified based on the geographic location of our subsidiaries.
| United States |  | All Other Countries |  | Total
2021 |  |  |  |  |
Revenues | $ | 7,254 |  |  | $ | 2,059 |  |  | $ | 9,313 |
Assets exclusive of assets under vehicle programs | 5,575 |  |  | 3,006 |  |  | 8,581 |
Assets under vehicle programs | 10,915 |  |  | 3,104 |  |  | 14,019 |
Net long-lived assets | 1,328 |  |  | 1,041 |  |  | 2,369 |
2020 |  |  |  |  |
Revenues | $ | 3,758 |  |  | $ | 1,644 |  |  | $ | 5,402 |
Assets exclusive of assets under vehicle programs | 5,262 |  |  | 3,103 |  |  | 8,365 |
Assets under vehicle programs | 6,797 |  |  | 2,376 |  |  | 9,173 |
Net long-lived assets | 1,421 |  |  | 1,147 |  |  | 2,568 |
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 |

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the names of foreign countries from which revenue is material and the amount of revenue from external customers attributed to those countries. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 + Details
Name: | us-gaap_ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration