Leasing (Tables)

12 Months Ended

Dec. 31, 2023

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 December 31, 2023, and that have noncancelable lease terms expiring after December 31, 2023.

Year ended December 31, ($ in millions)
2024	$	34
2025	29
2026	22
2027	17
2028	15
2029 and thereafter	3
Total undiscounted cash flows	120
Difference between undiscounted cash flows and discounted cash flows	(7)
Total lease liability	$	113

Schedule of Lease, Cost

The following table details the components of total net operating lease expense.

Year ended December 31, ($ in millions)	2023		2022		2021
Operating lease expense	$	29	$	33	$	46
Variable lease expense	5		4		7
Total lease expense, net (a)	$	34	$	37	$	53

(a)Included in other operating expenses in our Consolidated Statement of Income.

Schedule of Property Subject to or Available for Operating Lease

The following table details our investment in operating leases.

Year ended December 31, ($ in millions)	2023		2022
Vehicles	$	11,101	$	12,304
Accumulated depreciation	(1,930)		(1,860)
Investment in operating leases, net	$	9,171	$	10,444

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 December 31, 2023.

Year ended December 31, ($ in millions)
2024	$	1,304
2025	820
2026	382
2027	70
2028	4
Total lease payments from operating leases	$	2,580

Schedule of Depreciation Expense on Operating Lease Assets

The following table summarizes the components of depreciation expense on operating lease assets.

Year ended December 31, ($ in millions)	2023		2022		2021
Depreciation expense on operating lease assets (excluding remarketing gains) (a)	$	1,071	$	1,084	$	914
Remarketing gains, net	(211)		(170)		(344)
Net depreciation expense on operating lease assets	$	860	$	914	$	570

(a)Includes variable lease payments related to excess mileage and excessive wear and tear on vehicles of $9 million during the year ended December 31, 2023, $7 million during the year ended December 31, 2022, and $16 million during the year ended December 31, 2021.

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 December 31, 2023.

Year ended December 31, ($ in millions)
2024	$	193
2025	163
2026	140
2027	73
2028	33
2029 and thereafter	11
Total undiscounted cash flows	613
Difference between undiscounted cash flows and discounted cash flows	(82)
Present value of lease payments recorded as lease receivable	$	531