v3.26.1
Leasing (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2026, and that have noncancelable lease terms expiring after June 30, 2026.
($ in millions)
2026$19 
202734 
202829 
202911 
20309 
2031 and thereafter24 
Total undiscounted cash flows126 
Difference between undiscounted cash flows and discounted cash flows(12)
Total lease liability$114 
Schedule of Lease, Cost
The following table details the components of total net operating lease expense.
Three months ended June 30,Six months ended June 30,
($ in millions)2026202520262025
Operating lease expense$10 $8 $18 $16 
Variable lease expense1 13 2
Total lease expense, net (a)$11 $9 $21 $18 
(a)Included in other operating expenses in our Condensed Consolidated Statement of Comprehensive Income.
Schedule of Property Subject to or Available for Operating Lease
The following table details our investment in operating leases.
($ in millions)June 30, 2026December 31, 2025
Vehicles$10,018 $10,163 
Accumulated depreciation(1,433)(1,391)
Investment in operating leases, net$8,585 $8,772 
Schedule of Lessor, Operating Lease, Payments to be Received, Maturity
The following table presents future minimum rental payments we have the right to receive under operating leases with noncancelable lease terms expiring after June 30, 2026.
($ in millions)
2026$769 
20271,142 
2028573 
2029129 
203010 
Total lease payments from operating leases$2,623 
Schedule of Depreciation Expense on Operating Lease Assets The following table summarizes the components of depreciation expense on operating lease assets.
Three months ended June 30,Six months ended June 30,
($ in millions)2026202520262025
Depreciation expense on operating lease assets (excluding remarketing losses) (a)$267 $216 $525 $437 
Remarketing losses, net2 — 12 19 
Net depreciation expense on operating lease assets$269 $216 $537 $456 
(a)Includes variable lease payments related to excess mileage and excessive wear and tear on vehicles of $6 million and $11 million for the three months and six months ended June 30, 2026, respectively, and $6 million and $12 million for the three months and six months ended June 30, 2025.
Schedule of Finance Lease, Liability, Maturity
The following table presents future minimum rental payments we have the right to receive under finance leases with noncancelable lease terms expiring after June 30, 2026.
($ in millions)
2026$68 
2027126 
2028102 
202976 
203047 
2031 and thereafter24 
Total undiscounted cash flows443 
Difference between undiscounted cash flows and discounted cash flows(65)
Present value of lease payments recorded as lease receivable$378