Leases (Tables)

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Schedule of Operating Lease, Lease Income

The following table presents our lease revenues disaggregated by geography:

	Three Months Ended  June 30,				Six Months Ended  June 30,
	2023		2022		2023		2022
Americas	$	2,410	$	2,549	$	4,405	$	4,534
Europe, Middle East and Africa	523		505		872		814
Asia and Australasia	148		148		317		252
Total lease revenues	$	3,081	$	3,202	$	5,594	$	5,600

The following table presents our lease revenues disaggregated by brand:

	Three Months Ended  June 30,				Six Months Ended  June 30,
	2023		2022		2023		2022
Avis	$	1,721	$	1,728	$	3,109	$	2,989
Budget	1,168		1,270		2,132		2,242
Other	192		204		353		369
Total lease revenues	$	3,081	$	3,202	$	5,594	$	5,600

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Other includes Zipcar and other operating brands.

Schedule of the Components of Lease Expense

The components of lease expense are as follows:

	Three Months Ended  June 30,				Six Months Ended  June 30,
	2023		2022		2023		2022
Property leases (a)
Operating lease expense	$	214	$	168	$	419	$	329
Variable lease expense	108		152		191		254
Total property lease expense	$	322	$	320	$	610	$	583

__________

(a)    Primarily within operating expenses.

Supplemental cash flow information related to leases is as follows:

	Six Months Ended  June 30,
	2023		2022
Cash payments for lease liabilities within operating activities:
Property operating leases	$	431	$	354
Non-cash activities - increase (decrease) in ROU assets in exchange for lease liabilities:
Property operating leases	$	572	$	311

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:

	As of  June 30, 2023			As of  December 31, 2022
Property leases
Operating lease ROU assets	$	2,547		$	2,405
Short-term operating lease liabilities (a)	$	506		$	555
Long-term operating lease liabilities	2,079			1,884
Operating lease liabilities	$	2,585		$	2,439
Weighted average remaining lease term	8.6 years			8.2 years
Weighted average discount rate	4.54		%	4.30		%

_________

(a)    Included in accounts payable and other current liabilities.