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REVENUE EARNING EQUIPMENT, NET (Tables) | 12 Months Ended
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Dec. 31, 2024
Revenue Earning Equipment [Abstract] |
Schedule of Revenue Earning Equipment |
(In millions) |  | Estimated Useful Lives |  | December 31, 2024 |  | December 31, 2023
Cost |  | Accumulated Depreciation |  | Net |  | Cost |  | Accumulated Depreciation |  | Net
Held for use: |  | (In years) |  |  |  |  |  |  |  |  |  |  |  |
Trucks |  | 3 — 7 |  | $ | 6,252 |  |  | $ | (2,210) |  |  | $ | 4,042 |  |  | $ | 5,630 |  |  | $ | (2,192) |  |  | $ | 3,438 |
Tractors |  | 4 — 7.5 |  | 6,721 |  |  | (2,739) |  |  | 3,982 |  |  | 6,995 |  |  | (2,712) |  |  | 4,283 |
Trailers and other |  | 9.5 — 12 |  | 1,695 |  |  | (671) |  |  | 1,024 |  |  | 1,686 |  |  | (683) |  |  | 1,003 |
Held for sale |  |  |  | 781 |  |  | (623) |  |  | 158 |  |  | 732 |  |  | (564) |  |  | 168 |
Total |  |  |  | $ | 15,449 |  |  | $ | (6,243) |  |  | $ | 9,206 |  |  | $ | 15,043 |  |  | $ | (6,151) |  |  | $ | 8,892 |
Schedule of Fair Value, Assets | The following table presents our assets held for sale that are measured at fair value on a nonrecurring basis and considered a Level 3 fair value measurement:
|  | December 31, |  | Losses from Valuation Adjustments
(In millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2022
Revenue earning equipment held for sale: |  |  |  |  |  |  |  |  |  |
Trucks |  | $ | 10 |  |  | $ | 5 |  |  | $ | 14 |  |  | $ | 6 |  |  | $ | 3 |
Tractors |  | 27 |  |  | 38 |  |  | 12 |  |  | 9 |  |  | 5 |
Trailers and other |  | 3 |  |  | 4 |  |  | 5 |  |  | 5 |  |  | 1 |
Total assets at fair value |  | $ | 40 |  |  | $ | 47 |  |  | $ | 31 |  |  | $ | 20 |  |  | $ | 9 |
Schedule of Components of Used Vehicle Sales | The components of Used vehicle sales, net were as follows:
(In millions) |  | 2024 |  | 2023 |  | 2022
Gains on vehicle sales, net (1) |  | $ | (103) |  |  | $ | (216) |  |  | $ | (459) |
Losses from valuation adjustments |  | 31 |  |  | 20 |  |  | 9 |
Used vehicle sales, net |  | $ | (72) |  |  | $ | (196) |  |  | $ | (450) |
_______________ (1)2023 and 2022 includes gains on used vehicles sold as part of the exit of the FMS U.K business of $2 million and $49 million, respectively.

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