v3.26.1
Leasing (Tables)
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Schedule of Lessee, Operating Lease, Liability, Maturity
The following table presents future minimum rental payments we are required to make under operating leases that have commenced as of March 31, 2026, and that have noncancelable lease terms expiring after March 31, 2026.
($ in millions)
2026$29 
202733 
202828 
202910 
20309 
2031 and thereafter24 
Total undiscounted cash flows133 
Difference between undiscounted cash flows and discounted cash flows(12)
Total lease liability$121 
Schedule of Lease, Cost
The following table details the components of total net operating lease expense.
Three months ended March 31,
($ in millions)20262025
Operating lease expense$8 $8 
Variable lease expense2 1 
Total lease expense, net (a)$10 $9 
(a)Included in other operating expenses in our Condensed Consolidated Statement of Comprehensive Income.
Schedule of Property Subject to or Available for Operating Lease
The following table details our investment in operating leases.
($ in millions)March 31, 2026December 31, 2025
Vehicles$10,131 $10,163 
Accumulated depreciation(1,432)(1,391)
Investment in operating leases, net$8,699 $8,772 
Schedule of Lessor, Operating Lease, Payments to be Received, Maturity
The following table presents future minimum rental payments we have the right to receive under operating leases with noncancelable lease terms expiring after March 31, 2026.
($ in millions)
2026$1,118 
20271,041 
2028460 
202975 
20303 
Total lease payments from operating leases$2,697 
Schedule of Depreciation Expense on Operating Lease Assets The following table summarizes the components of depreciation expense on operating lease assets.
Three months ended March 31,
($ in millions)20262025
Depreciation expense on operating lease assets (excluding remarketing losses) (a)$258 $221 
Remarketing losses, net10 19 
Net depreciation expense on operating lease assets$268 $240 
(a)Includes variable lease payments related to excess mileage and excessive wear and tear on vehicles of $5 million and $6 million during the three months ended March 31, 2026, and 2025, respectively.
Schedule of Finance Lease, Liability, Maturity
The following table presents future minimum rental payments we have the right to receive under finance leases with noncancelable lease terms expiring after March 31, 2026.
($ in millions)
2026$102 
2027123 
202895 
202966 
203038 
2031 and thereafter15 
Total undiscounted cash flows439 
Difference between undiscounted cash flows and discounted cash flows(64)
Present value of lease payments recorded as lease receivable$375