REVENUE EARNING EQUIPMENT, NET (Tables)

3 Months Ended

Mar. 31, 2024

Revenue Earning Equipment [Abstract]

Schedule of Revenue Earning Equipment

	Estimated Useful Lives (In Years)	March 31, 2024						December 31, 2023
(Dollars in millions)		Cost		Accumulated Depreciation		Net		Cost		Accumulated Depreciation		Net
Held for use:
Trucks	3 — 7	$	5,705	$	(2,183)	$	3,522	$	5,630	$	(2,192)	$	3,438
Tractors	4 — 7.5	6,862		(2,638)		4,224		6,995		(2,712)		4,283
Trailers and other	9.5 — 12	1,725		(675)		1,050		1,686		(683)		1,003
Held for sale		805		(624)		181		732		(564)		168
Total		$	15,097	$	(6,120)	$	8,977	$	15,043	$	(6,151)	$	8,892

Schedule of 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:

					Valuation Adjustments
	March 31, 2024		December 31, 2023		Three months ended March 31,
(In millions)					2024		2023
Revenue earning equipment held for sale:
Trucks	$	7	$	5	$	3	$	1
Tractors	36		38		6		1
Trailers and other	4		4		1		1
Total assets at fair value	$	47	$	47	$	10	$	3

Schedule of Gain and Losses Revenue Earning Equipment

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

	Three months ended March 31,
(In millions)	2024		2023
Gains on used vehicle sales, net	$	(30)	$	(75)
Losses from valuation adjustments	10		3
Used vehicle sales, net	$	(20)	$	(72)