Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Components of Other Comprehensive Income (Loss)

The components of other comprehensive income (loss) were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net income (loss)	$	63	$	5	$	(171)	$	(499)
Less: Net income attributable to non-controlling interests	28		1		77		2
Net income (loss) attributable to Avis Budget Group, Inc.	35		4		(248)		(501)

Other comprehensive income (loss), net of tax
Currency translation adjustments, net of tax of $(4), $30, $(10) and $44, respectively (a)	(13)		71		(7)		84
Net unrealized gain (loss) on cash flow hedges, net of tax of $0, $1, $1 and $4, respectively	(2)		(5)		(3)		(11)
Minimum pension liability adjustment, net of tax of $1, $0, $1 and $0, respectively	2		1		(1)		2
	(13)		67		(11)		75
Total comprehensive income (loss) attributable to Avis Budget Group, Inc.	$	22	$	71	$	(259)	$	(426)

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(a)Currency translation adjustments exclude income taxes related to indefinite investments in foreign subsidiaries.

Schedule of Components of Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) were as follows:



	Currency Translation Adjustments		Net Unrealized Gains (Losses) on Cash Flow Hedges (a)		Minimum Pension Liability Adjustment (b)		Accumulated Other Comprehensive Income (Loss)
Balance as of April 1, 2026	$	(42)	$	13	$	(107)	$	(136)
Other comprehensive income (loss) before reclassifications	(13)		1		1		(11)
Gross (gains) losses reclassified			(4)		2		(2)
Tax on (gains) losses reclassified			1		(1)		—
(Gains) losses reclassified from accumulated other comprehensive income (loss), net of tax	—		(3)		1		(2)
Net current-period other comprehensive income (loss)	(13)		(2)		2		(13)
Balance as of June 30, 2026	$	(55)	$	11	$	(105)	$	(149)

Balance as of April 1, 2025	$	(112)	$	25	$	(115)	$	(202)
Other comprehensive income (loss) before reclassifications	71		(1)		—		70
Gross (gains) losses reclassified			(6)		2		(4)
Tax on (gains) losses reclassified			2		(1)		1
(Gains) losses reclassified from accumulated other comprehensive income (loss), net of tax	—		(4)		1		(3)
Net current-period other comprehensive income (loss)	71		(5)		1		67
Balance as of June 30, 2025	$	(41)	$	20	$	(114)	$	(135)


	Currency Translation Adjustments		Net Unrealized Gains (Losses) on Cash Flow Hedges (a)		Minimum Pension Liability Adjustment (b)		Accumulated Other Comprehensive Income (Loss)
Balance as of January 1, 2026	$	(48)	$	14	$	(104)	$	(138)
Other comprehensive income (loss) before reclassifications	(7)		3		(3)		(7)
Gross (gains) losses reclassified			(8)		3		(5)
Tax on (gains) losses reclassified			2		(1)		1
(Gains) losses reclassified from accumulated other comprehensive income (loss), net of tax	—		(6)		2		(4)
Net current-period other comprehensive income (loss)	(7)		(3)		(1)		(11)
Balance as of June 30, 2026	$	(55)	$	11	$	(105)	$	(149)

Balance as of January 1, 2025	$	(125)	$	31	$	(116)	$	(210)
Other comprehensive income (loss) before reclassifications	84		(3)		—		81
Gross (gains) losses reclassified			(11)		3		(8)
Tax on (gains) losses reclassified			3		(1)		2
(Gains) losses reclassified from accumulated other comprehensive income (loss), net of tax	—		(8)		2		(6)
Net current-period other comprehensive income (loss)	84		(11)		2		75
Balance as of June 30, 2025	$	(41)	$	20	$	(114)	$	(135)

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All components of accumulated other comprehensive income (loss) are net of tax, except currency translation adjustments, which exclude income taxes related to indefinite investments in foreign subsidiaries and include $53 million gain, net of tax, as of June 30, 2026 related to our hedge of our investment in euro-denominated foreign operations (See Note 17 – Financial Instruments).

(a)Amounts reclassified to interest expense.

(b)Amounts reclassified to selling, general and administrative expenses.

Schedule of Redeemable Noncontrolling Interest

The following tables present changes in our redeemable non-controlling interests:


	2026
Balance as of April 1	$	120
Net income (loss) (a)	27
Distributions	—
Balance as of June 30	$	147


	2026
Balance as of January 1	$	74
Net income (loss) (a)	75
Distributions	(2)
Balance as of June 30	$	147

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(a) Represents the allocation of net income (loss) to the redeemable non-controlling interest holders under the HLBV method. See Note 1 – Basis of Presentation - Variable Interest Entities (“VIE”) and Non-Controlling Interests.