CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities
Net income	$ 748	$ 1,301
Adjustments to reconcile net income to net cash provided by operating activities:
Vehicle depreciation	1,017	777
Amortization of right-of-use assets	503	414
(Gain) loss on sale of vehicles, net	(455)	(497)
Non-vehicle related depreciation and amortization	108	109
Stock-based compensation	16	12
Amortization of debt financing fees	19	16
Net change in assets and liabilities:
Receivables	(52)	(139)
Income taxes and deferred income taxes	150	373
Accounts payable and other current liabilities	108	434
Operating lease liabilities	(500)	(415)
Other, net	120	(14)
Net cash provided by operating activities	1,782	2,371
Investing activities
Property and equipment additions	(105)	(76)
Proceeds received on asset sales	0	2
Net assets acquired (net of cash acquired)	(33)	(1)
Other, net	0	23
Net cash used in investing activities exclusive of vehicle programs	(138)	(52)
Vehicle programs:
Investment in vehicles	(8,881)	(6,269)
Proceeds received on disposition of vehicles	3,977	2,594
Investment in debt securities of Avis Budget Rental Car Funding (AESOP) LLC—related party	(329)	(210)
Proceeds from debt securities of Avis Budget Rental Car Funding (AESOP) LLC—related party	157	67
Net cash used in investing activities of vehicle programs	(5,076)	(3,818)
Net cash used in investing activities	(5,214)	(3,870)
Financing activities
Proceeds from long-term borrowings	0	729
Payments on long-term borrowings	(15)	(11)
Net change in short-term borrowings	3	0
Repurchases of common stock	(200)	(1,748)
Debt financing fees	(2)	(6)
Net cash used in financing activities exclusive of vehicle programs	(214)	(1,036)
Vehicle programs:
Proceeds from borrowings	11,866	8,921
Payments on borrowings	(8,158)	(6,289)
Debt financing fees	(28)	(14)
Net cash provided by financing activities of vehicle programs	3,680	2,618
Net cash provided by financing activities	3,466	1,582
Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash	6	(25)
Net increase in cash and cash equivalents, program and restricted cash	40	58
Cash and cash equivalents, program and restricted cash, beginning of period	642	626
Cash and cash equivalents, program and restricted cash, end of period	$ 682	$ 684