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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating activities    
Net loss $ (51) $ (9)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Vehicle depreciation 432 423
Gain on sale of vehicles, net (3) (24)
Non-vehicle related depreciation and amortization 61 49
Share-based Compensation 7 6
Amortization of debt financing fees 10 11
Net change in assets and liabilities, excluding the impact of acquisitions and dispositions:    
Receivables (11) 0
Income taxes and deferred income taxes (45) (15)
Accounts payable and other current liabilities 5 (20)
Other, net 58 82
Net cash provided by operating activities 463 503
Investing activities    
Property and equipment additions (40) (41)
Proceeds received on asset sales 3 3
Net assets acquired (net of cash acquired) (1) (36)
Other, net 0 0
Net cash used in investing activities exclusive of vehicle programs (38) (74)
Vehicle programs:    
Decrease in program cash 198 51
Investment in vehicles (4,140) (3,195)
Proceeds received on disposition of vehicles 2,776 2,444
Net cash used in investing activities of vehicle programs 1,166 700
Net cash used in investing activities (1,204) (774)
Financing activities    
Proceeds from long-term borrowings 350 376
Payments on long-term borrowings (5) (6)
Net change in short-term borrowings 1 (7)
Repurchases of common stock (86) (33)
Debt financing fees (5) (6)
Other, net 0 0
Net cash provided by financing activities exclusive of vehicle programs 255 324
Vehicle programs:    
Proceeds from borrowings 4,694 3,667
Payments on borrowings (3,796) (3,458)
Debt financing fees (6) (6)
Net cash provided by financing activities of vehicle programs 892 203
Net cash provided by financing activities 1,147 527
Effect of changes in exchange rates on cash and cash equivalents 18 (26)
Net increase in cash and cash equivalents 424 230
Cash and cash equivalents, beginning of period 452 624
Cash and cash equivalents, end of period $ 876 $ 854