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Revenue Earning Equipment (Tables)
 12 Months Ended
Dec. 31, 2016
Revenue Earning Equipment [Abstract]  
Summary of revenue earning equipment
 
 
Estimated
Useful
Lives
 
December 31, 2016
 
December 31, 2015
Cost
 
Accumulated
Depreciation
 
Net (1)
 
Cost
 
Accumulated
Depreciation
 
Net (1)
(In years)
 
(In thousands)
Held for use:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Full service lease
 
3 — 12
 
$
9,486,977

 
(3,031,937
)
 
6,455,040

 
8,839,941

 
(2,723,605
)
 
6,116,336

Commercial rental
 
4.5 — 12
 
2,499,010

 
(935,346
)
 
1,563,664

 
2,811,715

 
(907,412
)
 
1,904,303

Held for sale
 
 
 
494,355

 
(365,337
)
 
129,018

 
496,634

 
(332,538
)
 
164,096

Total
 
 
 
$
12,480,342

 
(4,332,620
)
 
8,147,722

 
12,148,290

 
(3,963,555
)
 
8,184,735

_______________ 
(1)
Revenue earning equipment, net includes vehicles under capital leases of $43 million, less accumulated depreciation of $22 million, at December 31, 2016 and $47 million, less accumulated depreciation of $22 million, at December 31, 2015.
Fair value, assets measured on recurring and nonrecurring basis
The following table presents our assets that are measured at fair value on a nonrecurring basis and considered a Level 3 fair value measurement:
 
 
 
 
 
 
Total Losses (2)
 
 
December 31,
 
Year ended December 31,
 
 
2016
 
2015
 
2016
 
2015
Assets held for sale:
 
 
 
 
 
 
 
 
Revenue earning equipment: (1)
 
 
 
 
 
 
 
 
Trucks
 
$
28,638

 
11,469

 
$
14,645

 
7,660

Tractors
 
82,576

 
19,479

 
47,597

 
7,620

Trailers
 
2,839

 
2,475

 
5,173

 
2,676

Total assets at fair value
 
$
114,053

 
33,423

 
$
67,415

 
17,956

______________
(1)
Assets held for sale in the above table only include the portion of revenue earning equipment held for sale where net book values exceeded fair values and fair value adjustments were recorded. The net book value of assets held for sale not exceeding fair value was $15 million and $131 million as of December 31, 2016 and 2015, respectively.
(2)
Total losses represent fair value adjustments for all vehicles held for sale throughout the period for which fair value less costs to sell was less than carrying value.
Gain and losses revenue earning equipment
For the twelve months ended December 31, 2016, the components of used vehicle sales, net were as follows:
 
Twelve months ended December 31,
 
2016
 
2015
 
2014
 
(In thousands)
Gains on vehicle sales, net
$
(68,387
)
 
(117,809
)
 
(126,824
)
Losses from fair value adjustments
67,415

 
17,956

 
10,764

Used vehicle sales, net
$
(972
)
 
(99,853
)
 
(116,060
)