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Leases (Tables) | 9 Months Ended
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Sep. 30, 2021
Leases [Abstract] |
Operating Lease, Lease Income | The following table presents the Company’s lease revenues disaggregated by geography:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Americas | $ | 2,391 |  |  | $ | 1,099 |  |  | $ | 5,417 |  |  | $ | 2,896 |
Europe, Middle East and Africa | 508 |  |  | 350 |  |  | 968 |  |  | 843 |
Asia and Australasia | 68 |  |  | 55 |  |  | 266 |  |  | 224 |
Total lease revenues | $ | 2,967 |  |  | $ | 1,504 |  |  | $ | 6,651 |  |  | $ | 3,963 |
The following table presents the Company’s lease revenues disaggregated by brand:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Avis | $ | 1,573 |  |  | $ | 824 |  |  | $ | 3,464 |  |  | $ | 2,181 |
Budget | 1,185 |  |  | 532 |  |  | 2,676 |  |  | 1,401 |
Other | 209 |  |  | 148 |  |  | 511 |  |  | 381 |
Total lease revenues | $ | 2,967 |  |  | $ | 1,504 |  |  | $ | 6,651 |  |  | $ | 3,963 |
_______ Other includes Zipcar and other operating brands.
The Components of Lease Expense | The components of lease expense are as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Property leases (a) |  |  |  |  |  |  |
Operating lease expense | $ | 146 |  |  | $ | 130 |  |  | $ | 419 |  |  | $ | 443 |
Variable lease expense | 152 |  |  | 51 |  |  | 318 |  |  | 107 |
Total property lease expense | $ | 298 |  |  | $ | 181 |  |  | $ | 737 |  |  | $ | 550 |
__________ (a) Primarily within operating expense and includes $(4) million and $11 million for the three months ended September 30, 2021 and 2020, respectively, and $12 million and $41 million for the nine months ended September 30, 2021 and 2020, respectively, of minimum annual guaranteed rent in excess of concession fees, net, as defined in our rental concession agreements. Supplemental cash flow information related to leases is as follows:
| Nine Months Ended September 30,
| 2021 |  | 2020
Cash payments for lease liabilities within operating activities: |  |  |
Property operating leases | $ | 445 |  |  | $ | 554 |
Non-cash activities - increase (decrease) in ROU assets in exchange for lease liabilities: |  |  |
Property operating leases | $ | 226 |  |  | $ | 588 |
Supplemental Balance Sheet Information related to Leases | Supplemental balance sheet information related to leases is as follows:
| As of September 30, 2021 |  | As of December 31, 2020
Property leases |  |  |
Operating lease ROU assets | $ | 2,309 |  |  | $ | 2,560 |
Short-term operating lease liabilities (a) | $ | 484 |  |  | $ | 514 |
Long-term operating lease liabilities | 1,862 |  |  | 2,078 |
Operating lease liabilities | $ | 2,346 |  |  | $ | 2,592 |
Weighted average remaining lease term | 8.2 years |  | 8.4 years
Weighted average discount rate | 3.86 | % |  | 3.86 | %
_________ (a) Included in Accounts payable and other current liabilities.

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of components of income from operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=124258985&loc=SL77919372-209981 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 6A -URI http://asc.fasb.org/extlink&oid=124502072&loc=SL77927221-108306 + Details
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