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REVENUE EARNING EQUIPMENT, NET (Tables) | 12 Months Ended
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Dec. 31, 2022
Revenue Earning Equipment [Abstract] |
Schedule of Revenue Earning Equipment |
(In millions) |  | Estimated Useful Lives |  | December 31, 2022 |  | December 31, 2021
Cost |  | Accumulated Depreciation |  | Net |  | Cost |  | Accumulated Depreciation |  | Net
Held for use: |  | (In years) |  |  |  |  |  |  |  |  |  |  |  |
Trucks |  | 3 — 7 |  | $ | 5,282 |  |  | $ | (2,114) |  |  | $ | 3,168 |  |  | $ | 5,223 |  |  | $ | (2,055) |  |  | $ | 3,168 |
Tractors |  | 4 — 7.5 |  | 7,153 |  |  | (3,153) |  |  | 4,000 |  |  | 7,256 |  |  | (3,059) |  |  | 4,197 |
Trailers and other |  | 9.5 — 12 |  | 1,610 |  |  | (690) |  |  | 920 |  |  | 1,780 |  |  | (869) |  |  | 911 |
Held for sale |  |  |  | 388 |  |  | (286) |  |  | 102 |  |  | 210 |  |  | (163) |  |  | 47 |
Total |  |  |  | $ | 14,433 |  |  | $ | (6,243) |  |  | $ | 8,190 |  |  | $ | 14,469 |  |  | $ | (6,146) |  |  | $ | 8,323 |
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 residual value estimate changes since 2019, as well as used vehicle sales results (rounded to the closest million):
|  | Years ended December31,
(In millions) |  | 2022 |  | 2021 |  | 2020
Depreciation expense related to estimate changes |  | $ | 193 |  |  | $ | 309 |  |  | $ | 491 |
Used vehicle sales, net |  | (450) |  |  | (257) |  |  | — |
Schedule of Fair Value of 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
|  | December 31, |  | Years ended December 31,
(In millions) |  | 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2020
Revenue earning equipment held for sale (1): |  |  |  |  |  |  |  |  |  |
Trucks |  | $ | 1 |  |  | $ | 1 |  |  | $ | 3 |  |  | $ | 4 |  |  | $ | 18 |
Tractors |  | 2 |  |  | 2 |  |  | 5 |  |  | 4 |  |  | 12 |
Trailers and other |  | — |  |  | 1 |  |  | 1 |  |  | 6 |  |  | 7 |
Total assets at fair value |  | $ | 3 |  |  | $ | 4 |  |  | $ | 9 |  |  | $ | 14 |  |  | $ | 37 |
_______________ (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 $99 million and $43 million as of December 31, 2022 and 2021, respectively.
Schedule of Components of Used Vehicle Sales | The components of used vehicle sales, net were as follows:
|  | Years ended December 31,
(In millions) |  | 2022 |  | 2021 |  | 2020
Gains on vehicle sales, net (1) |  | $ | (459) |  |  | $ | (271) |  |  | $ | (37) |
Losses from valuation adjustments |  | 9 |  |  | 14 |  |  | 37 |
Used vehicle sales, net |  | $ | (450) |  |  | $ | (257) |  |  | $ | — |
_______________ (1) In 2022, Gains on vehicle sales, net includes $49 million related to the exit of the FMS U.K.business.

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