Vehicle Rental Activities

3 Months Ended

Mar. 31, 2015

Vehicle Rental Activities [Abstract]

Vehicle Rental Activities

Vehicle Rental Activities

The components of vehicles, net within assets under vehicle programs were as follows:

	As of			As of
	March 31,			December 31,
	2015			2014
Rental vehicles	$	11,661		$	11,006
Less: Accumulated depreciation	(1,335		)	(1,465		)
	10,326			9,541
Vehicles held for sale	451			674
Vehicles, net	$	10,777		$	10,215

The components of vehicle depreciation and lease charges, net are summarized below:

	Three Months Ended   March 31,
	2015			2014
Depreciation expense	$	423		$	407
Lease charges	33			37
Gain on sales of vehicles, net	(24		)	(11		)
Vehicle depreciation and lease charges, net	$	432		$	433

At March 31, 2015 and 2014, the Company had purchases of vehicles included in liabilities under vehicle programs - other of $428 million and $498 million, respectively, and sales of vehicles included in assets under vehicle programs - receivables from vehicle manufacturers and other of $246 million and $231 million, respectively.