Vehicle Rental Activities

3 Months Ended

Mar. 31, 2019

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,
	2019			2018
Rental vehicles	$	13,601		$	12,548
Less: Accumulated depreciation	(1,480		)	(1,670		)
	12,121			10,878
Vehicles held for sale	464			596
Vehicles, net	$	12,585		$	11,474

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

	Three Months Ended   March 31,
	2019			2018
Depreciation expense	$	436		$	460
Lease charges	57			56
(Gain) loss on sale of vehicles, net	(8		)	(1		)
Vehicle depreciation and lease charges, net	$	485		$	515

At March 31, 2019 and 2018, the Company had payables related to vehicle purchases included in liabilities under vehicle programs - other of $632 million and $641 million, respectively, and receivables related to vehicle sales included in assets under vehicle programs - receivables from vehicle manufacturers and other of $474 million and $329 million, respectively.