Segment Information (Tables)

3 Months Ended

Mar. 31, 2021

The Company’s presentation of Adjusted EBITDA may not be comparable to similarly-titled measures used by other companies.


			Three Months Ended March 31,
			2021				2020
			Revenues		Adjusted EBITDA		Revenues		Adjusted EBITDA
Americas			$	1,080	$	108	$	1,257	$	(30)
International			292		(50)		496		(40)
Corporate and Other (a)			—		(11)		—		(17)
	Total Company		$	1,372	$	47	$	1,753	$	(87)

Reconciliation of Adjusted EBITDA to income (loss) before income taxes
					2021				2020
Adjusted EBITDA					$	47			$	(87)
Less:		Non-vehicle related depreciation and amortization			68				69
		Interest expense related to corporate debt, net:
		Interest expense			61				48
		Early extinguishment of debt			129				4
		Restructuring and other related charges			20				44
		COVID-19 charges (b)			18				7
		Transaction-related costs, net			1				2
		Non-operational charges related to shareholder activist activity (c)			—				4


Loss before income taxes					$	(250)			$	(265)

__________

(a)Includes unallocated corporate overhead which is not attributable to a particular segment.

(b)For three months ended March 31, 2021 consists of $17 million within operating expenses and $1 million within selling, general and administrative expenses, primarily consisting of $19 million of minimum annual guaranteed rent in excess of concession fees, $5 million of other charges and $(6) million associated with vehicles damaged in overflow parking lots, net of insurance proceeds. For the three months ended March 31, 2020, consists of $7 million within operating expenses, primarily consisting of $5 million associated with vehicles damaged in overflow parking lots, net of insurance proceeds and $2 million of incremental cleaning supplies to sanitize vehicles and facilities, and over flow parking.

(c)Reported within selling, general and administrative expenses.