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REVENUE EARNING EQUIPMENT, NET (Tables)
 3 Months Ended
Mar. 31, 2023
Revenue Earning Equipment [Abstract]  
Schedule of Revenue Earning Equipment
 
Estimated Useful Lives (In Years)
March 31, 2023December 31, 2022
(Dollars in millions)CostAccumulated
Depreciation
Net
CostAccumulated
Depreciation
Net
Held for use:
Trucks
3 — 7
$5,303 $(2,133)$3,170 $5,282 $(2,114)$3,168 
Tractors
   4 — 7.5
7,142 (3,096)4,046 7,153 (3,153)4,000 
Trailers and other
9.5 — 12
1,615 (693)922 1,610 (690)920 
Held for sale (1)
463 (348)115 388 (286)102 
Total$14,523 $(6,270)$8,253 $14,433 $(6,243)$8,190 
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(1)Revenue earning equipment held for sale where net book values exceed fair values are adjusted to fair value on a nonrecurring basis and these adjustments are considered Level 3 fair value measurements. The fair value of revenue earning equipment held for sale adjusted with Level 3 fair value measurements were $4 million and $3 million as of March 31, 2023, and December 31, 2022, respectively. The net book value of all other assets held for sale were below fair value.
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)20232022
Gains on vehicle sales, net (1)
$(75)$(115)
Losses from valuation adjustments3 2 
Used vehicle sales, net$(72)$(113)
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(1)For the three months ended March 31, 2023 and 2022, gains on vehicle sales, net includes $2 million and $8 million, respectively, related to the exit of the FMS U.K.business.