INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]


	December 31, 2025
(In millions)	FMS		SCS		DTS		CSS		Total
Indefinite lived intangible assets — Trade name	$	—	$	—	$	—	$	9	$	9

Finite lived intangible assets, primarily customer relationships (1)	58		495		92		—		645

Accumulated amortization	(48)		(164)		(30)		—		(242)


Total	$	10	$	331	$	62	$	9	$	412

	December 31, 2024
(In millions)	FMS		SCS		DTS		CSS		Total
Indefinite lived intangible assets — Trade name	$	—	$	—	$	—	$	9	$	9
Finite lived intangible assets, primarily customer relationships (1)	49		495		92		—		636
Accumulated amortization	(47)		(123)		(18)		—		(188)
Total	$	2	$	372	$	74	$	9	$	457

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(1)Includes $116 million of customer relationships related to the acquisition of CLH Parent Corporation (Cardinal Logistics) in 2024. Refer to Note 23, "Acquisitions," for additional information.

The Ryder trade name has been identified as having an indefinite useful life. We recognized intangible asset amortization expense of $52 million in 2025, of which $53 million is associated with finite lived intangible assets, partially offset by $1 million relating to the amortization of unfavorable lease assets recorded in Operating lease right-of-use assets in the

Consolidated Balance Sheets. In 2024, we recognized intangible assets amortization expense of $53 million, of which $51 million is associated with finite lived intangible assets and $2 million relates to favorable lease asset amortization. The future amortization expense for each of the five succeeding years related to all intangible assets that are currently reported in the Consolidated Balance Sheets is estimated to range from $45 - $52 million per year for 2026 - 2030.