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Property and Equipment, net | 12 Months Ended
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Dec. 31, 2024
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,
| 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 |
At December 31, 2024, 2023 and 2022, we had payables related to vehicle purchases included in liabilities under vehicle programs - other of $203 million, $287 million, and $265 million, respectively, and receivables related to vehicle sales included in assets under vehicle programs - receivables from vehicle manufacturers and other of $287 million, $237 million, and $212 million, respectively. Property and Equipment, net 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 |
Depreciation and amortization expense relating to property and equipment during 2024, 2023 and 2022 was $207 million, $187 million, and $181 million, respectively (including $102 million, $101 million, and $115 million, respectively, of amortization expense relating to capitalized software). At December 31, 2024, we had payables related to property and equipment included in accounts payable and other current liabilities of $10 million. 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.

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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/1943274/2147477798/958-360-50-6 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/1943274/2147477798/958-360-50-1 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/1943274/2147477798/958-360-50-7 + Details
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