v3.25.2
Related Party Transactions
 6 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
Avis Mobility Ventures LLC

Avis Mobility Ventures LLC (“AMV”) is our former subsidiary. We ceased to have a controlling interest in AMV in 2022, and as a result we deconsolidated AMV from our financial statements. Our proportional share of AMV’s income or loss is included within other (income) expense, net in our Condensed Consolidated Statements of Comprehensive Income. As of June 30, 2025, we own approximately 35% of AMV. We continue to provide vehicles, related fleet services, and certain administrative services to AMV to support their operations. The following tables provide amounts reported within our financial statements related to our equity method investment in AMV and these services.

The components of other (income) expense, net are summarized below:

 
Three Months Ended 
June 30,
Six Months Ended
June 30,
2025202420252024
(Income) expense for services to AMV, net$4 $— $8 $(2)
(Income) loss on equity method investment in AMV, net1 2 3 5 
Other (income) expense, net$5 $2 $11 $3 

The following table provides amounts reported within our Condensed Consolidated Balance Sheets related to AMV:
As ofAs of
June 30,December 31,
20252024
Receivables from AMV (a)
$7 $3 
Equity method investment in AMV (b)
25 28 
Vehicles, net investment in lease with AMV (c)
92 74 
__________
(a)Included within other current assets.
(b)Included within other non-current assets.
(c)Included within vehicles, net. See Note 7 – Vehicle Rental Activities.

SRS Mobility Ventures, LLC

SRS Mobility Ventures, LLC is an affiliate of our largest shareholder, SRS Investment Management, LLC. SRS Mobility Ventures, LLC obtained a controlling interest in AMV in 2022. As of June 30, 2025, they own approximately 65% of AMV.