Basis of Presentation Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 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 September 30,
	2019		2018
Cash and cash equivalents	$	615	$	605
Program cash	89		151
Restricted cash ^(a)	4		12
Total cash and cash equivalents, program and restricted cash	$	708	$	768

________

^(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 September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Americas	$	1,868	$	1,844	$	4,822	$	4,782
Europe, Middle East and Africa	742		784		1,747		1,830
Asia and Australasia	143		150		441		462
Total revenues	$	2,753	$	2,778	$	7,010	$	7,074

Disaggregation of Revenue by Brand [Table Text Block]

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



	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Avis	$	1,580	$	1,599	$	4,008	$	4,095
Budget	950		953		2,417		2,372
Other	223		226		585		607
Total revenues	$	2,753	$	2,778	$	7,010	$	7,074

________

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.



	Nine Months Ended September 30,
	2019			2018
Balance, January 1	$	64		$	69
Revenue deferred	19			12
Revenue recognized	(16		)	(9		)
Balance, September 30	$	67		$	72

_______

At September 30, 2019 and 2018, $24 million and $19 million was included in accounts payable and other current liabilities, respectively, and $43 million and $53 million, respectively, in other non-current liabilities. Non-current amounts are expected to be recognized as revenue within two to three years.

At January 1, 2018, the Company’s prepaid rentals and membership fees related to its car sharing business were $125 million. During the nine months ended September 30, 2018, additional revenues of $1,561 million were deferred and revenues of $1,542 million were recognized. At September 30, 2018, the ending prepaid rentals and car sharing membership fees were $144 million, of which $142 million was included in accounts payable and other current liabilities and $2 million was included in other non-current liabilities.