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v3.23.2

Vehicle Rental Activities | 6 Months Ended
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Jun. 30, 2023
Property, Plant and Equipment [Abstract] |
Vehicle Rental Activities | Vehicle Rental Activities The components of vehicles, net within assets under vehicle programs are as follows:
| As of |  | As of
| June 30, |  | December 31,
| 2023 |  | 2022
Rental vehicles | $ | 22,725 |  |  | $ | 17,819 |
Less: Accumulated depreciation | (2,407) |  |  | (2,211) |
| 20,318 |  |  | 15,608 |
Vehicles held for sale | 276 |  |  | 317 |
Vehicles, net investment in lease (a) | 31 |  |  | 36 |
Vehicles, net | $ | 20,625 |  |  | $ | 15,961 |
________ (a) See Note 15 – Related Party Transactions. The components of vehicle depreciation and lease charges, net are summarized below:
| Three Months Ended June 30, |  | Six Months Ended June 30, |
| 2023 |  | 2022 |  | 2023 |  | 2022 |
Depreciation expense | $ | 540 |  |  | $ | 396 |  |  | $ | 1,017 |  |  | $ | 777 |  |
Lease charges | 40 |  |  | 32 |  |  | 78 |  |  | 65 |  |
(Gain) loss on sale of vehicles, net | (205) |  |  | (194) |  |  | (455) |  |  | (497) |  |
Vehicle depreciation and lease charges, net | $ | 375 |  |  | $ | 234 |  |  | $ | 640 |  |  | $ | 345 |  |
At June 30, 2023 and 2022, we had payables related to vehicle purchases included in liabilities under vehicle programs - other of $443 million and $249 million, respectively, and receivables related to vehicle sales included in assets under vehicle programs - receivables from vehicle manufacturers and other of $140 million and $74 million, respectively.

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