CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities
Net income	$ 1,301	$ 228
Adjustments to reconcile net income to net cash provided by operating activities:
Vehicle depreciation	777	595
Amortization of right-of-use assets	414	492
(Gain) loss on sale of vehicles, net	(497)	(89)
Non-vehicle related depreciation and amortization	109	130
Stock-based compensation	12	14
Amortization of debt financing fees	16	17
Early extinguishment of debt costs	0	129
Net change in assets and liabilities:
Receivables	(139)	(117)
Income taxes and deferred income taxes	373	(42)
Accounts payable and other current liabilities	434	428
Operating lease liabilities	(415)	(489)
Other, net	(14)	(41)
Net cash provided by operating activities	2,371	1,255
Investing activities
Property and equipment additions	(76)	(30)
Proceeds received on asset sales	2	2
Net assets acquired (net of cash acquired)	(1)	(5)
Other, net	23	(5)
Net cash used in investing activities exclusive of vehicle programs	(52)	(38)
Vehicle programs:
Investment in vehicles	(6,269)	(6,203)
Proceeds received on disposition of vehicles	2,594	2,308
Investment in debt securities of Avis Budget Rental Car Funding (AESOP) LLC—related party	(210)	(163)
Proceeds from debt securities of Avis Budget Rental Car Funding (AESOP) LLC—related party	67	61
Net cash used in investing activities of vehicle programs	(3,818)	(3,997)
Net cash used in investing activities	(3,870)	(4,035)
Financing activities
Proceeds from long-term borrowings	729	1,100
Payments on long-term borrowings	(11)	(1,105)
Net change in short-term borrowings	0	2
Repurchases of common stock	(1,748)	(22)
Debt financing fees	(6)	(14)
Net cash used in financing activities exclusive of vehicle programs	(1,036)	(39)
Vehicle programs:
Proceeds from borrowings	8,921	8,200
Payments on borrowings	(6,289)	(4,718)
Debt financing fees	(14)	(13)
Net cash provided by financing activities of vehicle programs	2,618	3,469
Net cash provided by financing activities	1,582	3,430
Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash	(25)	(4)
Net increase in cash and cash equivalents, program and restricted cash	58	646
Cash and cash equivalents, program and restricted cash, beginning of period	626	765
Cash and cash equivalents, program and restricted cash, end of period	$ 684	$ 1,411