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Revenue Earning Equipment (Tables)
 6 Months Ended
Jun. 30, 2016
Revenue Earning Equipment [Abstract]  
Summary of revenue earning equipment
 
June 30, 2016
 
December 31, 2015
 
Cost
 
Accumulated
Depreciation
 
Net  Book
Value(1)
 
Cost
 
Accumulated
Depreciation
 
Net  Book
Value(1)
 
(In thousands)
Held for use:
 
Full service lease
$
9,239,442

 
(2,838,897
)
 
6,400,545

 
$
8,839,941

 
(2,723,605
)
 
6,116,336

Commercial rental
2,589,646

 
(874,713
)
 
1,714,933

 
2,811,715

 
(907,412
)
 
1,904,303

Held for sale
576,449

 
(391,819
)
 
184,630

 
496,634

 
(332,538
)
 
164,096

Total
$
12,405,537

 
(4,105,429
)
 
8,300,108

 
$
12,148,290

 
(3,963,555
)
 
8,184,735

 
————————————
(1)
Revenue earning equipment, net includes vehicles acquired under capital leases of $43.9 million, less accumulated depreciation of $21.1 million, at June 30, 2016, and $47.5 million, less accumulated depreciation of $22.2 million, at December 31, 2015.

Fair value, assets
The following table presents our assets held for sale that are measured at fair value on a nonrecurring basis and considered a Level 3 fair value measurement:

 
 
 
Total Losses (2)
 
June 30,
 
Three months ended June 30,
 
Six months ended June 30,
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
 
(In thousands)
Assets held for sale:
 
 
 
 
 
 
 
 
 
 
 
Revenue earning equipment (1):
 
 
 
 
 
 
 
 
 
 
 
Trucks
$
13,749

 
6,805

 
$
2,570

 
1,515

 
$
4,314

 
2,743

Tractors
51,795

 
7,389

 
9,206

 
1,081

 
14,088

 
1,908

Trailers
3,015

 
1,625

 
775

 
656

 
1,437

 
972

 
 
 
 
 
 
 
 
 
 
 
 
Total assets at fair value
$
68,559

 
15,819

 
$
12,551

 
3,252

 
$
19,839

 
5,623

 ————————————
(1)
Assets held for sale in the above table only include the portion of revenue earning equipment held for sale where carrying value exceeded fair value.
(2)
Total losses represent fair value adjustments for all vehicles reclassified to held for sale throughout the period for which fair value was less than carrying value.
Gain and Losses Revenue Earning Equipment
For the three and six months ended June 30, 2016 and 2015, the components of gains on used vehicles, net were as follows:
 
Three months ended June 30,
 
Six months ended June 30,
 
2016
 
2015
 
2016
 
2015
 
(In thousands)
 
 
 
 
Gains on vehicle sales, net
$
(24,551
)
 
(33,237
)
 
$
(50,968
)
 
(62,816
)
Losses from fair value adjustments
12,551

 
3,252

 
19,839

 
5,623

Gains on used vehicles, net
$
(12,000
)
 
(29,985
)
 
$
(31,129
)
 
(57,193
)