CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 519	$ 534
Receivables (net of allowance for doubtful accounts of $78 and $96, respectively)	878	838
Other current assets	696	662
Total current assets	2,093	2,034
Property and equipment, net	748	697
Operating lease right-of-use assets	3,239	3,057
Deferred income taxes	2,105	1,786
Goodwill	1,129	1,071
Other intangibles, net	589	601
Other non-current assets	403	422
Total assets exclusive of assets under vehicle programs	10,306	9,668
Assets under vehicle programs:
Program cash	94	60
Vehicles, net	18,720	17,619
Receivables from vehicle manufacturers and other	540	386
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party	1,597	1,308
Total assets under vehicle programs	20,951	19,373
Total assets	31,257	29,041
Current liabilities:
Accounts payable and other current liabilities	2,865	2,700
Short-term debt and current portion of long-term debt	24	20
Total current liabilities	2,889	2,720
Long-term debt	6,049	5,373
Long-term operating lease liabilities	2,614	2,484
Other non-current liabilities	495	470
Total liabilities exclusive of liabilities under vehicle programs	12,047	11,047
Liabilities under vehicle programs:
Debt	4,792	3,453
Debt due to Avis Budget Rental Car Funding (AESOP) LLC—related party	14,396	14,083
Deferred income taxes	2,677	2,442
Other	387	333
Total Liabilities under vehicle programs	22,252	20,311
Commitments and contingencies (Note 15)
Mezzanine equity:
Redeemable non-controlling interests	74	0
Stockholders’ equity:
Preferred stock, $0.01 par value—authorized 10 shares; none issued and outstanding, in each period	0	0
Common stock, $0.01 par value—authorized 250 shares; issued 137 shares, in each period	1	1
Additional paid-in capital	6,622	6,620
Retained earnings	1,139	2,029
Accumulated other comprehensive loss	(138)	(210)
Treasury stock, at cost—102 shares, in each period	(10,753)	(10,767)
Stockholders’ equity attributable to Avis Budget Group, Inc.	(3,129)	(2,327)
Non-controlling interests	13	10
Total stockholders’ equity	(3,116)	(2,317)
Total liabilities, redeemable non-controlling interests and stockholders’ equity	$ 31,257	$ 29,041