REVENUE EARNING EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2023

Revenue Earning Equipment [Abstract]

Schedule of Revenue Earning Equipment

(In millions)	Estimated Useful Lives	December 31, 2023						December 31, 2022
		Cost		Accumulated Depreciation		Net		Cost		Accumulated Depreciation		Net
Held for use:	(In years)
Trucks	3 — 7	$	5,630	$	(2,192)	$	3,438	$	5,282	$	(2,114)	$	3,168
Tractors	4 — 7.5	6,995		(2,712)		4,283		7,153		(3,153)		4,000
Trailers and other	9.5 — 12	1,686		(683)		1,003		1,610		(690)		920
Held for sale (1)		732		(564)		168		388		(286)		102
Total		$	15,043	$	(6,151)	$	8,892	$	14,433	$	(6,243)	$	8,190

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(1)Revenue earning equipment held for sale, where net book values exceed fair values, are adjusted to fair value on a nonrecurring basis and these adjustments are considered Level 3 fair value measurements. Revenue earning equipment held for sale adjusted with Level 3 fair value measurements was $47 million and $3 million as of December 31, 2023 and December 31, 2022, respectively. The net book value of all other assets held for sale were below fair value.

Schedule of Components of Used Vehicle Sales

The components of Used vehicle sales, net were as follows:

	Years ended December 31,
(In millions)	2023		2022		2021
Gains on vehicle sales, net (1)	$	(216)	$	(459)	$	(271)
Losses from valuation adjustments	20		9		14
Used vehicle sales, net	$	(196)	$	(450)	$	(257)

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(1)2023 and 2022 includes gains on used vehicles sold as part of the exit of the FMS U.K business of $2 million and $49 million, respectively.