v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 198 $ 154
Receivables, net 1,897 1,861
Prepaid expenses and other current assets 378 448
Total current assets 2,473 2,463
Revenue earning equipment, net 8,898 9,206
Operating property and equipment, net 1,268 1,184
Goodwill 1,152 1,158
Intangible assets, net 412 457
Operating lease right-of-use assets 1,000 1,055
Sales-type leases and other assets 1,184 1,149
Total assets 16,387 16,672
Current liabilities:    
Short-term debt and current portion of long-term debt 819 1,120
Accounts payable 689 828
Accrued expenses and other current liabilities 1,270 1,323
Total current liabilities 2,778 3,271
Long-term debt 6,826 6,659
Other non-current liabilities 1,923 1,954
Deferred income taxes 1,808 1,671
Total liabilities 13,335 13,555
Commitments and contingencies (Note 21)
Shareholders’ equity:    
Preferred stock, no par value per share — authorized, 3,800,917; none outstanding, December 31, 2025 and 2024 0 0
Common stock, $0.50 par value per share — authorized, 400,000,000; outstanding, December 31, 2025 — 39,417,224 and December 31, 2024 — 42,080,039 20 21
Additional paid-in capital 1,083 1,144
Retained earnings 2,569 2,644
Accumulated other comprehensive loss (620) (692)
Total shareholders’ equity 3,052 3,117
Total liabilities and shareholders’ equity $ 16,387 $ 16,672