CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities
Net income	$ 2,332	$ 902
Adjustments to reconcile net income to net cash provided by operating activities:
Vehicle depreciation	1,232	981
Amortization of right-of-use assets	637	562
(Gain) loss on sale of vehicles, net	(856)	(241)
Non-vehicle related depreciation and amortization	168	199
Stock-based compensation	19	25
Amortization of debt financing fees	25	25
Early extinguishment of debt costs	0	136
Net change in assets and liabilities:
Receivables	(194)	(175)
Income taxes and deferred income taxes	640	200
Accounts payable and other current liabilities	415	435
Operating lease liabilities	(639)	(558)
Other, net	83	57
Net cash provided by operating activities	3,862	2,548
Investing activities
Property and equipment additions	(120)	(57)
Proceeds received on asset sales	2	3
Net assets acquired (net of cash acquired)	(1)	(17)
Cash disposed upon deconsolidation of subsidiary	(55)	0
Other, net	22	(3)
Net cash used in investing activities exclusive of vehicle programs	(152)	(74)
Vehicle programs:
Investment in vehicles	(7,946)	(8,041)
Proceeds received on disposition of vehicles	4,608	3,310
Investment in debt securities of Avis Budget Rental Car Funding (AESOP) LLC—related party	(351)	(260)
Proceeds from debt securities of Avis Budget Rental Car Funding (AESOP) LLC—related party	265	134
Net cash used in investing activities of vehicle programs	(3,424)	(4,857)
Net cash used in investing activities	(3,576)	(4,931)
Financing activities
Proceeds from long-term borrowings	729	1,100
Payments on long-term borrowings	(17)	(1,350)
Net change in short-term borrowings	(1)	0
Repurchases of common stock	(2,574)	(997)
Debt financing fees	(7)	(21)
Contributions from non-controlling interests	40	38
Net cash used in financing activities exclusive of vehicle programs	(1,830)	(1,230)
Vehicle programs:
Proceeds from borrowings	13,075	11,612
Payments on borrowings	(11,360)	(7,790)
Debt financing fees	(23)	(14)
Net cash provided by financing activities of vehicle programs	1,692	3,808
Net cash (used in) provided by financing activities	(138)	2,578
Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash	(53)	(15)
Net increase in cash and cash equivalents, program and restricted cash	95	180
Cash and cash equivalents, program and restricted cash, beginning of period	626	765
Cash and cash equivalents, program and restricted cash, end of period	$ 721	$ 945