CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 528	$ 519
Receivables, net	832	878
Other current assets	819	696
Total current assets	2,179	2,093
Property and equipment, net	737	748
Operating lease right-of-use assets	3,182	3,239
Deferred income taxes	2,240	2,105
Goodwill	1,120	1,129
Other intangibles, net	624	589
Other non-current assets	382	403
Total assets exclusive of assets under vehicle programs	10,464	10,306
Assets under vehicle programs:
Program cash	118	94
Vehicles, net	18,093	18,720
Receivables from vehicle manufacturers and other	503	540
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party	1,425	1,597
Total assets under vehicle programs	20,139	20,951
Total assets	30,603	31,257
Current liabilities:
Accounts payable and other current liabilities	2,926	2,865
Short-term debt and current portion of long-term debt	23	24
Total current liabilities	2,949	2,889
Long-term debt	6,021	6,049
Long-term operating lease liabilities	2,594	2,614
Other non-current liabilities	486	495
Total liabilities exclusive of liabilities under vehicle programs	12,050	12,047
Liabilities under vehicle programs:
Debt	4,788	4,792
Debt due to Avis Budget Rental Car Funding (AESOP) LLC—related party	13,603	14,396
Deferred income taxes	2,697	2,677
Other	747	387
Total liabilities under vehicle programs	21,835	22,252
Commitments and contingencies (Note 13)
Redeemable non-controlling interests	120	74
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	6,607	6,622
Retained earnings	856	1,139
Accumulated other comprehensive loss	(136)	(138)
Treasury stock, at cost—102 shares, in each period	(10,743)	(10,753)
Stockholders’ equity attributable to Avis Budget Group, Inc.	(3,415)	(3,129)
Non-controlling interests	13	13
Total stockholders’ equity	(3,402)	(3,116)
Total liabilities, redeemable non-controlling interests and stockholders’ equity	$ 30,603	$ 31,257