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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 234 $ 204
Receivables, net 1,814 1,714
Prepaid expenses and other current assets 358 347
Total current assets 2,406 2,265
Revenue earning equipment, net 8,977 8,892
Operating property and equipment, net of accumulated depreciation of $1,554 and $1,511 1,232 1,217
Goodwill 1,017 940
Intangible assets, net 569 396
Operating lease right-of-use assets 1,190 1,016
Sales-type leases and other assets 1,090 1,052
Total assets 16,481 15,778
Current liabilities:    
Short-term debt and current portion of long-term debt 741 1,583
Accounts payable 854 833
Accrued expenses and other current liabilities 1,323 1,233
Total current liabilities 2,918 3,649
Long-term debt 6,802 5,531
Other non-current liabilities 2,063 1,871
Deferred income taxes 1,633 1,658
Total liabilities 13,416 12,709
Commitments and contingencies (Note 15)
Shareholders' equity:    
Preferred stock, no par value per share — authorized, 3,800,917; none outstanding, March 31, 2024 and December 31, 2023 0 0
Common stock, $0.50 par value per share — authorized, 400,000,000; outstanding, March 31, 2024 — 43,828,793 and December 31, 2023 — 43,902,065 22 22
Additional paid-in capital 1,129 1,148
Retained earnings 2,568 2,554
Accumulated other comprehensive loss (654) (655)
Total shareholders' equity 3,065 3,069
Total liabilities and shareholders' equity $ 16,481 $ 15,778