CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating activities
Net loss	$ (170)	$ (158)
Adjustments to reconcile net loss to net cash provided by operating activities:
Vehicle depreciation	259	414
Amortization of right-of-use assets	236	231
(Gain) loss on sale of vehicles, net	(49)	(11)
Non-vehicle related depreciation and amortization	68	69
Stock-based compensation	4	(2)
Amortization of debt financing fees	8	8
Early extinguishment of debt	129	4
Net change in assets and liabilities:
Receivables	24	163
Income taxes and deferred income taxes	(80)	(112)
Accounts payable and other current liabilities	181	(96)
Operating lease liabilities	(234)	(230)
Other, net	(40)	90
Net cash provided by operating activities	336	370
Investing activities
Property and equipment additions	(12)	(43)
Proceeds received on asset sales	2	2
Net assets acquired (net of cash acquired)	(4)	(51)
Net cash used in investing activities exclusive of vehicle programs	(14)	(92)
Vehicle programs:
Investment in vehicles	(3,032)	(3,751)
Proceeds received on disposition of vehicles	1,679	2,497
Investment in debt securities of Avis Budget Rental Car Funding (AESOP) LLC—related party	(24)	(175)
Proceeds from debt securities of Avis Budget Rental Car Funding (AESOP) LLC—related party	25	39
Net cash used in investing activities of vehicle programs	(1,352)	(1,390)
Net cash used in investing activities	(1,366)	(1,482)
Financing activities
Proceeds from long-term borrowings	1,100	184
Payments on long-term borrowings	(1,101)	(92)
Issuance of common stock	0	15
Repurchases of common stock	(19)	(118)
Debt financing fees	(12)	(3)
Net cash used in financing activities exclusive of vehicle programs	(32)	(14)
Vehicle programs:
Proceeds from borrowings	3,481	5,461
Payments on borrowings	(2,535)	(4,479)
Debt financing fees	0	(6)
Net cash provided by financing activities of vehicle programs	946	976
Net cash provided by financing activities	914	962
Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash	(10)	(29)
Net decrease in cash and cash equivalents, program and restricted cash	(126)	(179)
Cash and cash equivalents, program and restricted cash, beginning of period	765	900
Cash and cash equivalents, program and restricted cash, end of period	$ 639	$ 721