Revenue Earning Vehicles

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

The components of revenue earning vehicles, net are as follows:


(In millions)	June 30, 2026		December 31, 2025
Revenue earning vehicles	$	15,138	$	13,848
Less accumulated depreciation	(1,569)		(1,513)
	13,569		12,335
Revenue earning vehicles held for sale, net(1)	111		191
Revenue earning vehicles, net	$	13,680	$	12,526

(1) Represents the carrying amount of non-program vehicles classified as held for sale as of the respective balance sheet date.

Depreciation of revenue earning vehicles and lease charges, net includes the following:


	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2026		2025		2026		2025
Depreciation of revenue earning vehicles	$	453	$	431	$	889	$	897
(Gain) loss on disposal of revenue earning vehicles(1)	5		(38)		28		21
Rents paid for vehicles leased	29		22		51		32
Depreciation of revenue earning vehicles and lease charges, net	$	487	$	415	$	968	$	950

(1) Includes costs associated with the sales of vehicles of $50 million and $102 million for the three and six months ended June 30, 2026, respectively. Includes costs associated with the sales of vehicles of $72 million and $154 million for the three and six months ended June 30, 2025, respectively.