Basis of Presentation Basis of Presentation (Tables)

3 Months Ended

Mar. 31, 2019

Reconciliation of cash and cash equivalents (2016-18) [Table Text Block]

Cash and cash equivalents, Program cash and Restricted cash. The following table provides a detail of cash and cash equivalents, program and restricted cash reported within the Consolidated Condensed Balance Sheets to the amounts shown in the Consolidated Condensed Statements of Cash Flows.



	As of March 31,
	2019		2018
Cash and cash equivalents	$	540	$	544
Program cash	131		147
Restricted cash ^(a)	5		10
Total cash and cash equivalents, program and restricted cash	$	676	$	701

________


^(a)	Included within other current assets.

Disaggregation of Revenue [Table Text Block]

The following table presents the Company’s revenues disaggregated by geography.



	Three Months Ended March 31,
	2019		2018
Americas	$	1,327	$	1,348
Europe, Middle East and Africa	433		447
Asia and Australasia	160		173
Total revenues	$	1,920	$	1,968

Disaggregation of Revenue by Brand [Table Text Block]

The following table presents the Company’s revenues disaggregated by brand.



	Three Months Ended March 31,
	2019		2018
Avis	$	1,100	$	1,145
Budget	651		642
Other	169		181
Total revenues	$	1,920	$	1,968

________

Other includes Zipcar and other operating brands.

Deferred Revenue Rollforward [Table Text Block]

Deferred Revenue. The following table presents changes in deferred revenue associated with the Company’s customer loyalty program.



	Three Months Ended March 31,
	2019			2018
Balance, January 1	$	64		$	69
Revenue deferred	5			7
Revenue recognized	(6		)	(4		)
Balance, March 31	$	63		$	72

_______

At March 31, 2019 and 2018, $18 million was included in accounts payable and other current liabilities, in each period, and $45 million and $54 million, respectively, in other non-current liabilities. Non-current amounts are expected to be recognized as revenue within two to three years.