CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating activities
Net income	$ 134	$ 30
Adjustments to reconcile net income to net cash provided by operating activities:
Vehicle depreciation	913	898
Gain on sale of vehicles, net	(51)	(24)
Non-vehicle related depreciation and amortization	105	86
Amortization of debt financing fees	23	20
Net change in assets and liabilities, excluding the impact of acquisitions and dispositions:
Receivables	(68)	(131)
Income taxes and deferred income taxes	(72)	5
Accounts payable and other current liabilities	(72)	20
Other, net	115	107
Net cash provided by operating activities	1,027	1,011
Investing activities
Property and equipment additions	(80)	(80)
Proceeds received on asset sales	6	6
Net assets acquired (net of cash acquired)	(222)	(125)
Other, net	(1)	(8)
Net cash used in investing activities exclusive of vehicle programs	(297)	(207)
Vehicle programs:
Increase in program cash	(30)	(29)
Investment in vehicles	(7,939)	(8,214)
Proceeds received on disposition of vehicles	4,549	4,382
Net cash used in investing activities of vehicle programs	(3,420)	(3,861)
Net cash used in investing activities	(3,717)	(4,068)
Financing activities
Proceeds from long-term borrowings	376	695
Payments on long-term borrowings	(281)	(747)
Net change in short-term borrowings	(13)	0
Repurchases of common stock	(114)	(146)
Debt financing fees	(7)	(11)
Other, net	0	(1)
Net cash used in financing activities exclusive of vehicle programs	(39)	(210)
Vehicle programs:
Proceeds from borrowings	9,018	9,536
Payments on borrowings	(6,347)	(6,417)
Debt financing fees	(17)	(10)
Net cash provided by financing activities of vehicle programs	2,654	3,109
Net cash provided by financing activities	2,615	2,899
Effect of changes in exchange rates on cash and cash equivalents	(20)	2
Net decrease in cash and cash equivalents	(95)	(156)
Cash and cash equivalents, beginning of period	624	693
Cash and cash equivalents, end of period	$ 529	$ 537