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Property and Equipment, net | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Property and Equipment, net | Vehicle Rental Activities The components of vehicles, net within assets under vehicle programs are as follows:
| As of December 31,
| 2023 |  | 2022
Rental vehicles | $ | 23,114 |  |  | $ | 17,819 |
Less: Accumulated depreciation | (2,639) |  |  | (2,211) |
| 20,475 |  |  | 15,608 |
Vehicles held for sale | 734 |  |  | 317 |
Vehicles, net investment in lease(a) | 31 |  |  | 36 |
Vehicles, net | $ | 21,240 |  |  | $ | 15,961 |
_________ (a) See Note 17 – Related Party Transactions. The components of vehicle depreciation and lease charges, net are summarized below:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Depreciation expense | $ | 2,228 |  |  | $ | 1,709 |  |  | $ | 1,402 |
Lease charges | 167 |  |  | 138 |  |  | 156 |
(Gain) loss on sale of vehicles, net | (656) |  |  | (1,019) |  |  | (361) |
Vehicle depreciation and lease charges, net | $ | 1,739 |  |  | $ | 828 |  |  | $ | 1,197 |
At December 31, 2023, 2022 and 2021, we had payables related to vehicle purchases included in liabilities under vehicle programs - other o f $287 million, $265 million, and $142 million, respectively, and receivables related to vehicle sales included in assets under vehicle programs - receivables from vehicle manufacturers and other of $237 million, $212 million, and $134 million, respectively. Property and Equipment, net Property and equipment, net consisted of:
| As of December 31,
| 2023 |  | 2022
Land | $ | 61 |  |  | $ | 59 |
Buildings and leasehold improvements | 574 |  |  | 507 |
Capitalized software | 957 |  |  | 906 |
Furniture, fixtures and equipment | 440 |  |  | 382 |
Projects in process | 154 |  |  | 89 |
Buses and support vehicles | 94 |  |  | 90 |
| 2,280 |  |  | 2,033 |
Less: Accumulated depreciation and amortization | (1,561) |  |  | (1,439) |
Property and equipment, net | $ | 719 |  |  | $ | 594 |
Depreciation and amortization expense relating to property and equipment during 2023, 2022 and 2021 was $187 million, $181 million, and $205 million, respectively (including $101 million, $115 million, and $105 million, respectively, of amortization expense relating to capitalized software). At December 31, 2023, we had payables related to property and equipment included in accounts payable and other current liabilities and in other non-current liabilities of $18 million and $6 million, respectively. At December 31, 2022, we had payables related to property and equipment included in accounts payable and other current liabilities and in other non-current liabilities of $19 million and $1 million, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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