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Revenue Earning Equipment, Net (Tables) | 12 Months Ended
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Dec. 31, 2019
Revenue Earning Equipment [Abstract] |
Schedule of Revenue Earning Equipment |
|  | Estimated Useful Lives |  | December 31, 2019 |  | December 31, 2018
Cost |  | Accumulated Depreciation |  | Net (1) |  | Cost |  | Accumulated Depreciation |  | Net (1)
(In years) |  | (In thousands)
Held for use: |  |  |  |  |  |  |  |  |  |  |  |  |  |
ChoiceLease |  | 3 — 12 |  | $ | 12,223,179 |  |  | $ | (4,125,342 | ) |  | $ | 8,097,837 |  |  | $ | 10,824,819 |  |  | $ | (3,645,485 | ) |  | $ | 7,179,334 |
Commercial rental |  | 4.5 — 12 |  | 3,200,403 |  |  | (1,049,850 | ) |  | 2,150,553 |  |  | 3,152,908 |  |  | (1,047,346 | ) |  | 2,105,562 |
Held for sale |  |  |  | 748,435 |  |  | (569,161 | ) |  | 179,274 |  |  | 467,093 |  |  | (336,028 | ) |  | 131,065 |
Total |  |  |  | $ | 16,172,017 |  |  | $ | (5,744,353 | ) |  | $ | 10,427,664 |  |  | $ | 14,444,820 |  |  | $ | (5,028,859 | ) |  | $ | 9,415,961 |
_______________ (1) Revenue earning equipment, net includes vehicles under finance leases of $12 million, less accumulated depreciation of $8 million, at December 31, 2019 and $23 million, less accumulated depreciation of $13 million, at December 31, 2018.
Schedule of Fair Value of Assets | The following table presents the revenue earning equipment held for sale that are measured at fair value on a nonrecurring basis and considered a Level 3 fair value measurement:
|  |  |  |  |  | Total Losses (2)
|  | December 31, |  | Years ended December 31,
|  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2017
Assets held for sale: |  | (In thousands) |  | (In thousands)
Revenue earning equipment: (1) |  |  |  |  |  |  |  |  |  |
Trucks |  | $ | 39,009 |  |  | $ | 44,325 |  |  | $ | 38,701 |  |  | $ | 40,220 |  |  | $ | 30,812 |
Tractors |  | 73,359 |  |  | 35,397 |  |  | 40,213 |  |  | 9,030 |  |  | 21,261 |
Trailers |  | 2,206 |  |  | 1,507 |  |  | 4,224 |  |  | 4,478 |  |  | 5,992 |
Total assets at fair value |  | $ | 114,574 |  |  | $ | 81,229 |  |  | $ | 83,138 |  |  | $ | 53,728 |  |  | $ | 58,065 |
______________
(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. Assets held for sale where fair value was higher than net book value were $65 million and $50 million as of December 31, 2019 and 2018, respectively.
(2) Total losses represent fair value adjustments for all vehicles held for sale throughout the period for which fair value was less than net book value.
Schedule of Components of Used Vehicle Sales | The components of used vehicle sales, net were as follows:
|  | Years ended December 31,
|  | 2019 |  | 2018 |  | 2017
|  | (In thousands)
Losses (gains) on vehicle sales, net |  | $ | (24,432 | ) |  | $ | (31,403 | ) |  | $ | (41,076 | )
Losses from fair value adjustments |  | 83,138 |  |  | 53,728 |  |  | 58,065 |
Used vehicle sales, net |  | $ | 58,706 |  |  | $ | 22,325 |  |  | $ | 16,989 |

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