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REVENUE EARNING EQUIPMENT, NET (Tables)
 6 Months Ended
Jun. 30, 2022
Revenue Earning Equipment [Abstract]  
Schedule of Revenue Earning Equipment
 
Estimated Useful Lives (In Years)
June 30, 2022December 31, 2021
(Dollars in thousands)CostAccumulated
Depreciation
Net
CostAccumulated
Depreciation
Net
Held for use:
Trucks
3 — 7
$5,380,625 $(2,167,247)$3,213,378 $5,223,127 $(2,055,135)$3,167,992 
Tractors
   4 — 7.5
7,264,179 (3,144,334)4,119,845 7,256,002 (3,059,206)4,196,796 
Trailers and other
9.5 — 12
1,555,425 (663,521)891,904 1,780,487 (868,820)911,667 
Held for sale362,028 (268,018)94,010 209,506 (162,922)46,584 
Total$14,562,257 $(6,243,120)$8,319,137 $14,469,122 $(6,146,083)$8,323,039 
Summary of Amounts that have been Recorded for Accelerated and Policy Depreciation related to our Residual Value Estimate Changes The following table provides a summary of incremental depreciation expense that has been recorded related to our previous residual value estimate changes as well as used vehicle sales results (rounded to the closest million):
Three months ended June 30,Six months ended June 30,
2022202120222021
Depreciation expense related to estimate changes$49 $75 $97 $163 
Used vehicle sales, net (1)
(130)(52)(243)(80)
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(1)Used vehicle sales, net for the second quarter and six months ended June 30, 2022, included $20 million and $28 million, respectively, of gains on sales of vehicles in the U.K. Refer to Note 14, "Other Items Impacting Comparability"
Schedule of Fair Value, Assets
The following table presents revenue earning equipment held for sale that are measured at fair value on a nonrecurring basis and considered a Level 3 fair value measurement:
Losses from Valuation Adjustments
 Three months ended June 30,Six months ended June 30,
(In thousands)June 30, 2022December 31, 20212022202120222021
Revenue earning equipment held for sale (1):
Trucks$383 $931 $461 $684 $987 $1,574 
Tractors1,113 1,485 1,762 575 2,452 659 
Trailers and other332 1,309 205 1,828 485 3,875 
Total assets at fair value$1,828 $3,725 $2,428 $3,087 $3,924 $6,108 
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(1)Reflects only the portion where net book values exceeded fair values and valuation adjustments were recorded. The net book value of assets held for sale that were less than fair value was $92 million and $43 million as of June 30, 2022 and December 31, 2021, respectively.
Schedule of Gain and Losses Revenue Earning Equipment
The components of used vehicle sales, net were as follows:
 Three months ended June 30,Six months ended June 30,
(In thousands)2022202120222021
Gains on vehicle sales, net$(131,994)$(54,721)$(246,484)$(86,593)
Losses from valuation adjustments2,428 3,087 3,924 6,108 
Used vehicle sales, net$(129,566)$(51,634)$(242,560)$(80,485)