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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Statement of Cash Flows [Abstract]    
Document Fiscal Year Focus 2018  
Operating activities    
Net income $ 152 $ 141
Adjustments to reconcile net income to net cash provided by operating activities:    
Vehicle depreciation 1,536 1,500
(Gain) loss on sale of vehicles, net (35) 53
Non-vehicle related depreciation and amortization 190 194
Stock-based compensation 18 8
Amortization of debt financing fees 21 25
Early extinguishment of debt 5 3
Net changes in assets and liabilities:    
Receivables (140) (112)
Income taxes and deferred income taxes 78 16
Accounts payable and other current liabilities 138 74
Other, net 132 139
Net cash provided by operating activities 2,095 2,041
Investing activities    
Property and equipment additions (157) (138)
Proceeds received on asset sales 9 6
Net assets acquired (net of cash acquired) (64) (17)
Other, net (44) 6
Net cash used in investing activities exclusive of vehicle programs (256) (143)
Vehicle programs:    
Investment in vehicles (10,079) (9,672)
Proceeds received on disposition of vehicles 6,752 6,872
Investment in debt securities of Avis Budget Rental Car Funding (AESOP) LLC—related party (116) (33)
Proceeds from debt securities of Avis Budget Rental Car Funding (AESOP) LLC—related party 22 0
Net cash used in investing activities of vehicle programs (3,421) (2,833)
Net cash used in investing activities (3,677) (2,976)
Financing activities    
Proceeds from long-term borrowings 81 589
Payments on long-term borrowings (99) (596)
Proceeds from (Repayments of) Short-term Debt (4) (3)
Repurchases of common stock (143) (144)
Debt financing fees (9) (9)
Other, net 3 0
Net cash used in financing activities exclusive of vehicle programs (171) (163)
Vehicle programs:    
Proceeds from borrowings 13,371 14,276
Payments on borrowings (11,727) (12,930)
Debt financing fees (19) (8)
Net cash provided by financing activities of vehicle programs 1,625 1,338
Net cash provided by financing activities 1,454 1,175
Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash (5) 41
Net (decrease) increase in cash and cash equivalents, program and restricted cash (133) 281
Cash and cash equivalents, program and restricted cash, beginning of period 901 720
Cash and cash equivalents, program and restricted cash, end of period $ 768 $ 1,001