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Property and Equipment, net
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, net Vehicle Rental Activities
The components of vehicles, net within assets under vehicle programs are as follows: 
As of December 31,
20242023
Rental vehicles (a)
$20,094 $23,114 
Less: Accumulated depreciation(3,143)(2,639)
16,951 20,475 
Vehicles held for sale (a)
594 734 
Vehicles, net investment in lease (b)
74 31 
Vehicles, net$17,619 $21,240 
_________
(a)    For the year ended December 31, 2024, reflects long-lived asset impairment and other related charges, which reduced the carrying value of our rental vehicles and vehicles held for sale to fair value. See Note 2 – Summary of Significant Accounting Policies.
(b)    See Note 17 – Related Party Transactions.
The components of vehicle depreciation and lease charges, net are summarized below:
Year Ended December 31,
202420232022
Depreciation expense$2,658 $2,228 $1,709 
Lease charges151 167 138 
(Gain) loss on sale of vehicles, net167 (656)(1,019)
Vehicle depreciation and lease charges, net$2,976 $1,739 $828 
At December 31, 2024, 2023 and 2022, we had payables related to vehicle purchases included in liabilities under vehicle programs - other of $203 million, $287 million, and $265 million, respectively, and receivables related to vehicle sales included in assets under vehicle programs - receivables from vehicle manufacturers and other of $287 million, $237 million, and $212 million, respectively.
Property and Equipment, net
Property and equipment, net consisted of:
As of December 31,
20242023
Land$61 $61 
Buildings and leasehold improvements616 574 
Capitalized software981 957 
Furniture, fixtures and equipment484 440 
Projects in process92 154 
Buses and support vehicles94 94 
2,328 2,280 
Less: Accumulated depreciation and amortization(1,631)(1,561)
Property and equipment, net$697 $719 
Depreciation and amortization expense relating to property and equipment during 2024, 2023 and 2022 was $207 million, $187 million, and $181 million, respectively (including $102 million, $101 million, and $115 million, respectively, of amortization expense relating to capitalized software). At December 31, 2024, we had payables related to property and equipment included in accounts payable and other current liabilities of $10 million. At December 31, 2023, we had payables related to property and equipment included in accounts payable and other current liabilities and in other non-current liabilities of $18 million and $6 million, respectively.