v3.26.1
Divestitures (Tables)
 6 Months Ended
Jun. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Sale Leaseback Transactions The table below reflects the results of these transactions ($ in millions), in which a total pre-tax gain of $64 million was recognized on the sales and is included in the (Gain) on sale of non-vehicle capital assets in the accompanying unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2026.
Period of SaleLocation TypeLease ClassificationLease Terms
Pre-tax Gain(1)
Financial Liability
April 2026Operating site
Operating lease(2)
18 years$9 $— 
June 2026Operating site
Operating lease(2)
< one year
15 — 
June 2026Operating sites
Operating lease(2)
13 years14 — 
June 2026Operating site
Operating lease(2)
15 years7 — 
June 2026
Various(3)
Various(4)
15 years4 3 
June 2026Operating sites
Operating lease(2)
20 years10 — 
June 2026Operating site
Various(4)
20 years5 3 
$64 $6 
(1)    Recorded in (Gain) on sale of non-vehicle capital assets in the accompanying unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2026.
(2)    The sale qualified for sale-leaseback accounting and is accounted for as an operating lease.
(3)    Includes the sales of an airport rental location and operating sites.
(4)    The land portions of the sales qualified for sale-leaseback accounting and are accounted for as operating leases. The buildings portions of the sales, inclusive of site improvements, did not meet the criteria for a sale and are considered financial liabilities. The financial liabilities are classified as other non-vehicle debt and recorded in Non-vehicle debt in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2026.
The table below reflects certain results of these transactions ($ in millions). See Note 3, "Divestitures," for additional information.
Period of SaleLocation TypeLease ClassificationLease TermsFuture Minimum Payments
April 2026Operating site
Operating lease(1)
18 years$19 
June 2026Operating site
Operating lease(1)
< one year
— 
June 2026Operating sites
Operating lease(1)
13 years22 
June 2026Operating site
Operating lease(1)
15 years12 
June 2026
Various(2)
Various(3)
15 years29 
June 2026Operating sites
Operating lease(1)
20 years43 
June 2026Operating site
Various(3)
20 years24 
$149 
(1)    The sale qualified for sale-leaseback accounting and is accounted for as an operating lease.
(2)    Includes the sales of an airport rental location and operating sites.
(3)    The land portions of the sales qualified for sale-leaseback accounting and are accounted for as operating leases. The buildings portions of the sales, inclusive of site improvements, did not meet the criteria for a sale and are considered financial liabilities. The financial liabilities are classified as other non-vehicle debt and recorded in Non-vehicle debt in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2026.