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REVENUE EARNING EQUIPMENT, NET (Tables) | 6 Months Ended
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Jun. 30, 2025
Revenue Earning Equipment [Abstract] |
Schedule of Revenue Earning Equipment |
|  | Estimated Useful Lives (In Years) |  | June 30, 2025 |  | December 31, 2024
(Dollars in millions) |  |  | Cost |  | Accumulated Depreciation |  | Net |  | Cost |  | Accumulated Depreciation |  | Net
Held for use: |  |  |  |
Trucks |  | 3 — 7 |  | $ | 6,264 |  |  | $ | (2,165) |  |  | $ | 4,099 |  |  | $ | 6,252 |  |  | $ | (2,210) |  |  | $ | 4,042 |
Tractors |  | 4 — 7.5 |  | 6,734 |  |  | (2,792) |  |  | 3,942 |  |  | 6,721 |  |  | (2,739) |  |  | 3,982 |
Trailers and other |  | 9.5 — 12 |  | 1,675 |  |  | (674) |  |  | 1,001 |  |  | 1,695 |  |  | (671) |  |  | 1,024 |
Held for sale |  |  |  | 814 |  |  | (637) |  |  | 177 |  |  | 781 |  |  | (623) |  |  | 158 |
Total |  |  |  | $ | 15,487 |  |  | $ | (6,268) |  |  | $ | 9,219 |  |  | $ | 15,449 |  |  | $ | (6,243) |  |  | $ | 9,206 |
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:
|  |  |  | Losses from Valuation Adjustments
|  | June 30, 2025 |  | December 31, 2024 |  | Three months ended June 30, |  | Six months ended June 30,
(In millions) |  |  |  | 2025 |  | 2024 |  | 2025 |  | 2024
Revenue earning equipment held for sale: |  |  |  |  |  |  |  |  |  |  |  |
Trucks |  | $ | 21 |  |  | $ | 10 |  |  | $ | 8 |  |  | $ | 3 |  |  | $ | 13 |  |  | $ | 6 |
Tractors |  | 20 |  |  | 27 |  |  | 6 |  |  | 3 |  |  | 12 |  |  | 9 |
Trailers and other |  | 6 |  |  | 3 |  |  | 3 |  |  | 1 |  |  | 5 |  |  | 2 |
Total assets at fair value |  | $ | 47 |  |  | $ | 40 |  |  | $ | 17 |  |  | $ | 7 |  |  | $ | 30 |  |  | $ | 17 |
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 millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Gains on used vehicle sales, net |  | $ | (15) |  |  | $ | (26) |  |  | $ | (37) |  |  | $ | (56) |
Losses from valuation adjustments |  | 17 |  |  | 7 |  |  | 30 |  |  | 17 |
Used vehicle sales, net |  | $ | 2 |  |  | $ | (19) |  |  | $ | (7) |  |  | $ | (39) |

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