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Vehicle Rental Activities (Tables) | 12 Months Ended
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Dec. 31, 2024
Property, Plant and Equipment [Abstract] |
Schedule of Property and Equipment, Net | Useful lives are as follows:
Buildings | 30 years
Furniture, fixtures & equipment | 3 to 10 years
Capitalized software | 3 to 7 years
Buses and support vehicles | 4 to 15 years
The components of vehicles, net within assets under vehicle programs are as follows:
| As of December 31,
| 2024 |  | 2023
Rental vehicles (a) | $ | 20,094 |  |  | $ | 23,114 |
Less: Accumulated depreciation | (3,143) |  |  | (2,639) |
| 16,951 |  |  | 20,475 |
Vehicles held for sale (a) | 594 |  |  | 734 |
Vehicles, net investment in lease (b) | 74 |  |  | 31 |
Vehicles, net | $ | 17,619 |  |  | $ | 21,240 |
_________ (a) For the year ended December 31, 2024, reflects long-lived asset impairment and other related charges, which reduced the carrying value of our rental vehicles and vehicles held for sale to fair value. See Note 2 – Summary of Significant Accounting Policies. (b) See Note 17 – Related Party Transactions. The components of vehicle depreciation and lease charges, net are summarized below:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Depreciation expense | $ | 2,658 |  |  | $ | 2,228 |  |  | $ | 1,709 |
Lease charges | 151 |  |  | 167 |  |  | 138 |
(Gain) loss on sale of vehicles, net | 167 |  |  | (656) |  |  | (1,019) |
Vehicle depreciation and lease charges, net | $ | 2,976 |  |  | $ | 1,739 |  |  | $ | 828 |
Property and equipment, net consisted of:
| As of December 31,
| 2024 |  | 2023
Land | $ | 61 |  |  | $ | 61 |
Buildings and leasehold improvements | 616 |  |  | 574 |
Capitalized software | 981 |  |  | 957 |
Furniture, fixtures and equipment | 484 |  |  | 440 |
Projects in process | 92 |  |  | 154 |
Buses and support vehicles | 94 |  |  | 94 |
| 2,328 |  |  | 2,280 |
Less: Accumulated depreciation and amortization | (1,631) |  |  | (1,561) |
Property and equipment, net | $ | 697 |  |  | $ | 719 |

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1 + Details
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