Leasing (Tables)

3 Months Ended

Mar. 31, 2025

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 March 31, 2025, and that have noncancelable lease terms expiring after March 31, 2025.

($ in millions)
2025	$	28
2026	35
2027	27
2028	19
2029	2
2030 and thereafter	1
Total undiscounted cash flows	112
Difference between undiscounted cash flows and discounted cash flows	(6)
Total lease liability	$	106

Schedule of Lease, Cost

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

	Three months ended March 31,
($ in millions)	2025		2024
Operating lease expense	$	8	$	7
Variable lease expense	1		1
Total lease expense, net (a)	$	9	$	8

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

Schedule of Property Subject to or Available for Operating Lease

The following table details our investment in operating leases.

($ in millions)	March 31, 2025		December 31, 2024
Vehicles	$	9,361	$	9,519
Accumulated depreciation	(1,482)		(1,528)
Investment in operating leases, net	$	7,879	$	7,991

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 March 31, 2025.

($ in millions)
2025	$	985
2026	985
2027	476
2028	56
2029	5
Total lease payments from operating leases	$	2,507

Schedule of Depreciation Expense on Operating Lease Assets

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

	Three months ended March 31,
($ in millions)	2025		2024
Depreciation expense on operating lease assets (excluding remarketing losses (gains)) (a)	$	221	$	238
Remarketing losses (gains), net	19		(46)
Net depreciation expense on operating lease assets	$	240	$	192

(a)Includes variable lease payments related to excess mileage and excessive wear and tear on vehicles of $6 million and $4 million during the three months ended March 31, 2025, and 2024, respectively.

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 March 31, 2025.

($ in millions)
2025	$	141
2026	162
2027	127
2028	73
2029	38
2030 and thereafter	15
Total undiscounted cash flows	556
Difference between undiscounted cash flows and discounted cash flows	(74)
Present value of lease payments recorded as lease receivable	$	482