View Filing Data

Print Document View Excel Document

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	Apr. 30, 2019
Document Documentand Entity Information [Abstract]
Document Period End Date	Mar. 31, 2019
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	CAR
Entity Registrant Name	AVIS BUDGET GROUP, INC.
Entity Central Index Key	0000723612
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		75,912,038

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues
Revenues	$ 1,920	$ 1,968
Expenses
Operating	1,071	1,092
Vehicle depreciation and lease charges, net	485	515
Selling, general and administrative	284	296
Vehicle interest, net	81	72
Non-vehicle related depreciation and amortization	67	61
Interest expense	42	46
Early extinguishment of debt	0	5
Restructuring and other related charges	21	6
Transaction-related costs, net	5	4
Total expenses	2,056	2,097
Loss before income taxes	(136)	(129)
Benefit from income taxes	(45)	(42)
Net loss	(91)	(87)
Comprehensive loss	$ (96)	$ (79)
Loss per share
Basic	$ (1.20)	$ (1.08)
Diluted	$ (1.20)	$ (1.08)

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 540	$ 615
Receivables, net	915	955
Other current assets	682	604
Total current assets	2,137	2,174
Property and equipment, net	737	736
Operating lease right-of-use assets	2,506	0
Deferred income taxes	1,389	1,301
Goodwill	1,086	1,092
Other intangibles, net	809	825
Other non-current assets	258	242
Total assets exclusive of assets under vehicle programs	8,922	6,370
Assets under vehicle programs:
Program cash	131	115
Vehicles, net	12,585	11,474
Receivables from vehicle manufacturers and other	627	631
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party	637	559
Total assets under vehicle programs:	13,980	12,779
Total assets	22,902	19,149
Current liabilities:
Accounts payable and other current liabilities	2,235	1,693
Short-term debt and current portion of long-term debt	23	23
Total current liabilities	2,258	1,716
Long-term debt	3,501	3,528
Long-term operating lease liabilities	2,046	0
Other non-current liabilities	739	767
Total liabilities exclusive of liabilities under vehicle programs	8,544	6,011
Liabilities under vehicle programs:
Debt	2,665	2,874
Debt due to Avis Budget Rental Car Funding (AESOP) LLC—related party	8,540	7,358
Deferred income taxes	1,995	1,961
Other	834	531
Total Liabilities under vehicle programs	14,034	12,724
Commitments and contingencies (Note 12)
Stockholders’ equity:
Preferred stock, $0.01 par value—authorized 10 shares; none issued and outstanding, respectively	0	0
Common stock, $0.01 par value—authorized 250 shares; issued 137 shares, respectively	1	1
Additional paid-in capital	6,737	6,771
Accumulated deficit	(1,178)	(1,091)
Accumulated other comprehensive loss	(137)	(133)
Treasury stock, at cost—61 shares, respectively	(5,099)	(5,134)
Total stockholders’ equity	324	414
Total liabilities and stockholders’ equity	$ 22,902	$ 19,149

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10	10
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	250	250
Common stock, shares issued	137	137
Treasury stock, shares	61	61

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Cash Flows [Abstract]
Document Fiscal Year Focus	2019
Operating activities
Net loss	$ (91)	$ (87)
Adjustments to reconcile net loss to net cash provided by operating activities:
Vehicle depreciation	436	460
Amortization of right-of-use assets	215	0
(Gain) loss on sale of vehicles, net	(8)	(1)
Non-vehicle related depreciation and amortization	67	61
Stock-based compensation	5	5
Amortization of debt financing fees	8	8
Early extinguishment of debt	0	5
Net change in assets and liabilities:
Receivables	2	16
Income taxes and deferred income taxes	(51)	(44)
Accounts payable and other current liabilities	97	109
Operating lease liabilities	(216)	0
Other, net	(24)	(29)
Net cash provided by operating activities	440	503
Investing activities
Property and equipment additions	(57)	(57)
Proceeds received on asset sales	2	4
Net assets acquired (net of cash acquired)	5	10
Other, net	(3)	(19)
Net cash used in investing activities exclusive of vehicle programs	(63)	(82)
Vehicle programs:
Investment in vehicles	(4,376)	(4,226)
Proceeds received on disposition of vehicles	3,083	2,572
Repayments of Related Party Debt	(78)	0
Net cash used in investing activities of vehicle programs	1,371	1,654
Net cash used in investing activities	(1,434)	(1,736)
Financing activities
Proceeds from long-term borrowings	0	81
Payments on long-term borrowings	(5)	(89)
Proceeds from (Repayments of) Short-term Debt	0	(1)
Repurchases of common stock	(4)	(14)
Debt financing fees	0	(8)
Other, net	0	1
Net cash used in financing activities exclusive of vehicle programs	(9)	(30)
Vehicle programs:
Proceeds from borrowings	5,989	5,100
Payments on borrowings	(5,038)	(4,045)
Debt financing fees	(5)	(1)
Net cash provided by financing activities of vehicle programs	946	1,054
Net cash provided by financing activities	937	1,024
Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash	(2)	9
Net decrease in cash and cash equivalents, program and restricted cash	(59)	(200)
Cash and cash equivalents, program and restricted cash, beginning of period	735	901
Cash and cash equivalents, program and restricted cash, end of period	$ 676	$ 701

CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY Statement - USD ($) shares in Thousands, $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]
Stockholders Equity [Line Items]
Shares, Issued		(137,100)				56,300
Total stockholders’ equity	$ 573	$ 1	$ 6,820	$ (1,222)	$ (24)	$ (5,002)
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	(41)			(35)	(6)
Net loss	(87)
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	(79)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period			(27)			$ 27
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period						200
Stock Issued During Period, Value, Stock Options Exercised	2		(13)			$ 15
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period						200
Other Comprehensive Income (Loss), Net of Tax					8
Shares, Issued		(137,100)				(55,900)
Total stockholders’ equity	455	$ 1	6,780	(1,344)	(22)	$ (4,960)
Shares, Issued		(137,100)				(61,500)
Total stockholders’ equity	414	$ 1	6,771	(1,091)	(133)	$ (5,134)
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	5			4	1
Net loss	(91)
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	(96)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	$ 1		(29)			$ (30)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period						300
Stock Issued During Period, Value, Stock Options Exercised			(5)			$ 5
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	57					100
Other Comprehensive Income (Loss), Net of Tax					(5)
Shares, Issued		(137,100)				61,100
Total stockholders’ equity	$ 324	$ 1	$ 6,737	$ (1,178)	$ (137)	$ (5,099)

Basis of Presentation Basis of Presentation (Notes)

3 Months Ended

Mar. 31, 2019

Basis of Presentation [Abstract]

Basis of Presentation and Significant Accounting Policies [Text Block]

Basis of Presentation

Avis Budget Group, Inc. provides mobility solutions to businesses and consumers worldwide. The accompanying unaudited Consolidated Condensed Financial Statements include the accounts and transactions of Avis Budget Group, Inc. and its subsidiaries, as well as entities in which Avis Budget Group, Inc. directly or indirectly has a controlling financial interest (collectively, the “Company”), and have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission for interim financial reporting.

The Company operates the following reportable business segments:


•	Americas—consisting primarily of (i) vehicle rental operations in North America, South America, Central America and the Caribbean, (ii) car sharing operations in certain of these markets, and (iii) licensees in the areas in which the Company does not operate directly.


•	International—consisting primarily of (i) vehicle rental operations in Europe, the Middle East, Africa, Asia and Australasia, (ii) car sharing operations in certain of these markets, and (iii) licensees in the areas in which the Company does not operate directly.

The operating results of acquired businesses are included in the accompanying Consolidated Condensed Financial Statements from the dates of acquisition. The fair value of the assets acquired and liabilities assumed in connection with the Company’s 2018 acquisitions of Turiscar Group, Morini S.p.A and various licensees in Europe and North America have not yet been finalized; however, there have been no significant changes to the preliminary allocation of the purchase price during the three months ended March 31, 2019.

In presenting the Consolidated Condensed Financial Statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”), management makes estimates and assumptions that affect the amounts reported and related disclosures. Estimates, by their nature, are based on judgment and available information. Accordingly, actual results could differ from those estimates. In management’s opinion, the Consolidated Condensed Financial Statements contain all adjustments necessary for a fair presentation of interim results reported. The results of operations reported for interim periods are not necessarily indicative of the results of operations for the entire year or any subsequent interim period. These financial statements should be read in conjunction with the Company’s 2018 Form 10-K.

Summary of Significant Accounting Policies

The Company’s significant accounting policies are fully described in Note 2, “Summary of Significant Accounting Policies,” in the Company’s Annual Report on Form 10-K for fiscal year 2018.

Cash and cash equivalents, Program cash and Restricted cash. The following table provides a detail of cash and cash equivalents, program and restricted cash reported within the Consolidated Condensed Balance Sheets to the amounts shown in the Consolidated Condensed Statements of Cash Flows.



	As of March 31,
	2019		2018
Cash and cash equivalents	$	540	$	544
Program cash	131		147
Restricted cash ^(a)	5		10
Total cash and cash equivalents, program and restricted cash	$	676	$	701

________


^(a)	Included within other current assets.

Vehicle Programs. The Company presents separately the financial data of its vehicle programs. These programs are distinct from the Company’s other activities since the assets under vehicle programs are generally funded through the issuance of debt that is collateralized by such assets. The income generated by these assets is used, in part, to repay the principal and interest associated with the debt. Cash inflows and outflows relating to the acquisition of such assets and the principal debt repayment or financing of such assets are classified as activities of the Company’s vehicle programs. The Company believes it is appropriate to segregate the financial data of its vehicle programs because, ultimately, the source of repayment of such debt is the realization of such assets.

Transaction-related costs, net. Transaction-related costs, net are classified separately in the Consolidated Condensed Statements of Comprehensive Income. These costs are comprised of expenses related to acquisition-related activities such as due diligence and other advisory costs, expenses related to the integration of the acquiree’s operations with those of the Company, including the implementation of best practices and process improvements, non-cash gains and losses related to re-acquired rights, expenses related to pre-acquisition contingencies and contingent consideration related to acquisitions.

Currency Transactions. The Company records the gain or loss on foreign-currency transactions on certain intercompany loans and the gain or loss on intercompany loan hedges within interest expense related to corporate debt, net. During the three months ended March 31, 2019 and 2018, the Company recorded a gain of $5 million and $1 million, respectively, related to such items.

Divestitures. During 2018, the Company, entered into a definitive stock purchase agreement “Purchase Agreement” to sell the Company’s 50% equity method investment in Anji Car Rental & Leasing Company Limited (“Anji”), located in China, to Shanghai Automotive Industry Sales Company, Ltd., a 50% owner of Anji. Anji’s operations are reported within the Company’s International segment. The sale closed in the second quarter of 2019 upon receiving clearance from applicable regulatory authorities in China (see Note 18 - Subsequent Events). As of March 31, 2019 and December 31, 2018, the carrying value of the Company’s 50% equity method investment in Anji was $24 million and $25 million, respectively, and is recorded as assets held for sale, which is included in other non-current assets on the Consolidated Condensed Balance Sheets.

Other Investments. In March 2018, the Company made an initial equity investment of $20 million in its licensee in Greece (“Greece”), for a 20% ownership stake. In June 2018, the Company purchased an additional 20% ownership stake for $19 million, including an acceleration premium. The Company’s equity investment is recorded within other non-current assets. The Company’s share of Greece’s results are reported within operating expenses and were not material for the three months ended March 31, 2019 and 2018.

Nonmarketable Equity Securities. As of March 31, 2019 and December 31, 2018, the Company’s carrying amount of nonmarketable equity securities was $20 million and $8 million, respectively, and are recorded within other non-current assets. During the three months ended March 31, 2019, the Company recorded a $12 million favorable adjustment to the carrying amount of nonmarketable equity securities within operating expenses. No adjustments were made to the carrying amount during the three months ended March 31, 2018.

Revenues. From January 1, 2018 through December 31, 2018, the Company’s revenues were recognized in accordance with ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. Effective January 1, 2019, revenues are recognized under ASU 2016-02, “Leases (Topic 842)” with the exception of royalty fee revenue derived from the Company’s licensees and revenue related to the Company’s customer loyalty program, which was approximately $30 million during the three months ended March 31, 2019. The following table presents the Company’s revenues disaggregated by geography.



	Three Months Ended March 31,
	2019		2018
Americas	$	1,327	$	1,348
Europe, Middle East and Africa	433		447
Asia and Australasia	160		173
Total revenues	$	1,920	$	1,968

The following table presents the Company’s revenues disaggregated by brand.



	Three Months Ended March 31,
	2019		2018
Avis	$	1,100	$	1,145
Budget	651		642
Other	169		181
Total revenues	$	1,920	$	1,968

________

Other includes Zipcar and other operating brands.

Deferred Revenue. The following table presents changes in deferred revenue associated with the Company’s customer loyalty program.



	Three Months Ended March 31,
	2019			2018
Balance, January 1	$	64		$	69
Revenue deferred	5			7
Revenue recognized	(6		)	(4		)
Balance, March 31	$	63		$	72

_______

At March 31, 2019 and 2018, $18 million was included in accounts payable and other current liabilities, in each period, and $45 million and $54 million, respectively, in other non-current liabilities. Non-current amounts are expected to be recognized as revenue within two to three years.

At January 1, 2018, the Company’s prepaid rentals and membership fees related to its car sharing business were $125 million. During the three months ended March 31, 2018, additional revenues of $412 million were deferred and revenues of $359 million were recognized. At March 31, 2018, the ending prepaid rentals and car sharing membership fees were $178 million, of which $176 million was included in accounts payable and other current liabilities and $2 million was included in other non-current liabilities.

Adoption of New Accounting Pronouncements

Nonemployee Share-Based Payment Accounting

On January 1, 2019, as a result of a new accounting pronouncement, the Company adopted Accounting Standards Update (“ASU”) 2018-02, “Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting,” which simplifies the accounting for share-based payments granted to nonemployees for goods and services and aligns most of the guidance on such payments to nonemployees with the requirements for share-based payments granted to employees. The adoption of this accounting pronouncement did not have an impact on the Company's Consolidated Condensed Financial Statements.

Accounting for Hedging Activities

On January 1, 2019, as the result of a new accounting pronouncement, the Company adopted ASU 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,” which amends the existing guidance to allow companies to more accurately present the economic results of an entity’s risk management activities in the financial statements. The adoption of this standard did not have a material impact on the Company’s Consolidated Condensed Financial Statements.

Leases

On January 1, 2019, as the result of a new accounting pronouncement, the Company adopted Topic 842 along with related updates, which require a lessee to recognize all long-term leases on its balance sheet as a liability for its lease obligation, measured at the present value of lease payments not yet paid, and a corresponding asset representing its right to use the underlying asset over the lease term and expands disclosure of key information about leasing arrangements. Topic 842 does not significantly change a lessee’s recognition, measurement and presentation of expenses and cash flows. Additionally, Topic 842 aligns key aspects of lessor accounting with the revenue recognition guidance in Topic 606.

The Company elected available practical expedients for existing or expired contracts of lessees and lessors wherein the Company is not required to reassess whether such contracts contain leases, the lease classification or the initial direct costs. The Company is not utilizing the practical expedient which allows the use of hindsight by lessees and lessors in determining the lease term and in assessing impairment of its right-of-use (“ROU”) assets. Additionally, the Company elected as accounting policies to not recognize ROU assets or lease liabilities for short-term leases (i.e. those with a term of 12 months or less at lease commencement) and, by class of underlying asset, to combine lease and nonlease components in the contract. The Company utilized the transition method allowing entities to only apply the new lease standard in the year of adoption.

Lessor

The Company has determined that revenues derived by providing vehicle rentals and other related products and mobility services to customers are within the scope of the accounting guidance contained in Topic 842 with the exception of royalty fee revenue derived from the Company’s licensees and revenue related to the Company’s customer loyalty program. The Company’s rental related revenues have been accounted for under the revenue accounting standard Topic 606, until the adoption of Topic 842.

The Company excludes from the measurement of its lease revenues any tax assessed by a governmental authority that is both imposed on and concurrent with a specific revenue-producing transaction and collected from a customer. As a result, lease revenues exclude such taxes collected. Fees collected from customers for which the Company is the primary obligor such as airport concessions and vehicle licensing are recorded within revenues and corresponding remittances of these fees by the Company are recorded within operating expenses.

Lessee

The Company determines if an arrangement is a lease at inception. Operating leases, other than those associated with the Company’s vehicle rental programs, are included in operating lease ROU assets, accounts payable and other current liabilities, and long-term operating lease liabilities in the Company’s Consolidated Condensed Balance Sheets. Finance leases, other than those associated with the Company’s vehicle rental programs, are included in property and equipment, net, short-term debt and current portion of long-term debt, and long-term debt in the Company’s Consolidated Condensed Balance Sheets.

ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the expected lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on information available at commencement date in determining the present value of lease payments. The operating lease ROU assets are reduced by any lease incentives. The Company’s lease terms may include options to extend or terminate the lease, which are included in the calculation of ROU assets when it is reasonably certain that the Company will exercise those options. Lease expense for lease payments is usually recognized on a straight-line basis over the lease term.

The Company has lease agreements with lease and non-lease components, which are generally not accounted for separately. Additionally, for certain leases, the Company applies a portfolio approach to account for the operating lease ROU assets and liabilities as the leases are similar in nature and have nearly identical contract provisions.

Adoption of this standard resulted in most of the Company’s operating lease commitments being recognized as operating lease liabilities and right-of-use assets, which increased total assets and total liabilities by approximately $2,811 million related to property operating leases and $183 million related to vehicle operating leases. The Company recorded a beginning accumulated deficit adjustment of $5 million, net of tax, related to the adoption of this standard.

Recently Issued Accounting Pronouncements

Intangibles—Goodwill and Other—Internal—Use Software

In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-15 “Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement That Is a Service Contract”, which provides guidance for determining when the arrangement includes a software license. The amendments align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal use software (and hosting arrangements that include an internal use software license). The amendments in this update also require the entity to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement, to present the expense in the same line in its statement of income as the fees associated with the hosting element (service) of the arrangement and classify payments for capitalized implementation costs in its statement of cash flows in the same manner as payments made for fees associated with the hosting element. The entity is also required to present the capitalized implementation costs in its balance sheet in the same line that a prepayment for the fees of the associated hosting arrangement would be presented. ASU 2018-15 becomes effective for the Company on January 1, 2020. Early adoption is permitted. The Company is currently evaluating the impact of adopting this accounting pronouncement on its Consolidated Condensed Financial Statements.

Compensation—Retirement Benefits—Defined Benefit Plans

In August 2018, the FASB issued ASU 2018-14, “Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans,” which adds, removes, and clarifies disclosure requirements related to defined benefit pension and other postretirement plans. These changes are part of the FASB’s disclosure framework project, which the Board launched in 2014 to improve the effectiveness of disclosures in notes to financial statements. ASU 2018-14 becomes effective for the Company on January 1, 2021. Early adoption is permitted. The adoption of this accounting pronouncement is not expected to have a material impact on the Company's Consolidated Condensed Financial Statements.

Fair Value Measurement

In August 2018, the FASB issued ASU 2018-13, “Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement,” which adds, removes, and modifies disclosure requirements related to fair value measurements. ASU 2018-13 becomes effective for the Company on January 1, 2020. Early adoption is permitted. The adoption of this accounting pronouncement is not expected to have a material impact on the Company's Consolidated Condensed Financial Statements.

Measurement of Credit Losses on Financial Instruments

In June 2016, the FASB issued ASU 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” which sets forth a current expected credit loss impairment model for financial assets that replaces the current incurred loss model. This model requires a financial asset (or group of financial assets), including trade receivables, measured at amortized cost to be presented at the net amount expected to be collected with an allowance for credit losses deducted from the amortized cost basis. The allowance for credit losses should reflect management’s current estimate of credit losses that are expected to occur over the remaining life of a financial asset. ASU 2016-13 becomes effective for the Company on January 1, 2020. Early adoption is permitted as of January 1, 2019. The adoption of this accounting pronouncement is not expected to have a material impact on the Company's Consolidated Condensed Financial Statements.

Leases (Notes)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Leases [Text Block]


2.	Leases

Lessor

For periods after January 1, 2019, the Company combines all lease and nonlease components of its vehicle rental contracts for which the timing and pattern of transfer are the same and the lease component meets the classification of an operating lease, and accounts for them in accordance with Topic 842. The Company derives revenues primarily by providing vehicle rentals and other related products and mobility services to commercial and leisure customers. Other related products and mobility services include sales of collision and loss damage waivers under which a customer is relieved from financial responsibility arising from vehicle damage incurred during the rental; products and services for driving convenience such as fuel service options, chauffeur drive services, roadside safety net, electronic toll collection, tablet rentals, access to satellite radio, portable navigation units and child safety seat rentals; and rentals of other supplemental items including automobile towing equipment and other moving accessories and supplies. The Company also receives payment from customers for certain operating expenses that it incurs, including airport concession fees that are paid by the Company in exchange for the right to operate at airports and other locations, as well as vehicle licensing fees. Vehicle rentals and other related products and mobility services are recognized evenly over the period of rental, which is on average four days. In addition, the Company collects membership leasing fees in connection with its car sharing business. Membership leasing fees are generally nonrefundable, are deferred and recognized ratably over the period of membership.

The following table presents the Company’s lease revenues disaggregated by geography.



	Three Months Ended March 31, 2019
Americas	$	1,319
Europe, Middle East and Africa	414
Asia and Australasia	157
Total lease revenues	$	1,890

The following table presents the Company’s lease revenues disaggregated by brand.



	Three Months Ended March 31, 2019
Avis	$	1,083
Budget	640
Other	167
Total lease revenues	$	1,890

________

Other includes Zipcar and other operating brands.

Lessee

The Company has operating and finance leases for rental locations, corporate offices, vehicle rental fleet and equipment. Many of the Company’s operating leases for rental locations contain concession agreements with various airport authorities that allow the Company to conduct its vehicle rental operations on site. In general, concession fees for airport locations are based on a percentage of total commissionable revenue (as defined by each airport authority), some of which are subject to minimum annual guaranteed amounts. Concession fees other than minimum annual guaranteed amounts are not included in the measurement of operating lease ROU assets and operating lease liabilities, and are recorded as variable lease expense as incurred. The Company’s operating leases for rental locations often also require the Company to pay or reimburse operating expenses.

The Company leases a portion of its vehicles under operating leases, some of which extend through 2025. As of March 31, 2019, the Company has guaranteed up to $292 million of residual values for these vehicles at the end of their respective lease terms. The Company believes that, based on current market conditions, the net proceeds from the sale of these vehicles at the end of their lease terms will equal or exceed their net book values and therefore has not recorded a liability related to guaranteed residual values.

The components of lease expense are as follows:



	Three Months Ended March 31, 2019
Property leases ^(a)
Operating lease expense	$	177
Variable lease expense	51
Total property lease expense	$	228

Vehicle leases
Finance lease expense:
Amortization of ROU assets ^(b)	$	11
Interest on lease liabilities ^(c)	1
Operating lease expense ^(b)	57
Total vehicle lease expense	$	69

__________


^(a)	Primarily included in operating expense.


^(b)	Included in vehicle depreciation and lease charges, net.


^(c)	Included in vehicle interest, net.

Supplemental balance sheet information related to leases is as follows:



	As of March 31, 2019
Property leases
Operating lease ROU assets	$	2,506

Short-term operating lease liabilities ^(a)	$	474
Long-term operating lease liabilities	2,046
Operating lease liabilities	$	2,520

Weighted average remaining lease term	9.5 years
Weighted average discount rate	4.58		%

Vehicle leases
Finance
Finance lease ROU assets, gross	$	282
Accumulated amortization	(50		)
Finance lease ROU assets, net ^(b)	$	232

Short-term vehicle finance lease liabilities	$	82
Long-term vehicle finance lease liabilities	117
Vehicle finance lease liabilities^(c)	$	199

Weighted average remaining lease term	1.8 years
Weighted average discount rate	1.40		%

Operating
Vehicle operating lease ROU assets ^(d)	$	147

Short-term vehicle operating lease liabilities	$	82
Long-term vehicle operating lease liabilities	65
Vehicle operating lease liabilities ^(e)	$	147

Weighted average remaining lease term	2.8 years
Weighted average discount rate	3.09		%

Other leases
Finance property and equipment lease ROU assets, gross	$	25
Accumulated amortization	(2		)
Finance property and equipment lease ROU assets, net ^(f)	$	23

Short-term finance lease liabilities ^(g)	$	8
Long-term finance lease liabilities ^(h)	15
Finance lease liabilities	$	23

Weighted average remaining lease term	4.0 years
Weighted average discount rate	5.86		%

_________


^(a)	Included in Accounts payable and other current liabilities.


^(b)	Included in Vehicles, net within Assets under vehicle programs.


^(c)	Included in Debt within Liabilities under vehicle programs.


^(d)	Included in Receivables from vehicle manufacturers and other within Assets under vehicle programs.


^(e)	Included in Other within Liabilities under vehicle programs.


^(f)	Included in Property and equipment, net.


^(g)	Included in Short-term debt and current portion of long-term debt.


^(h)	Included in Long-term debt.

Supplemental cash flow information related to leases is as follows:



	Three Months Ended March 31, 2019
Cash payments for lease liabilities within operating activities:
Property operating leases	$	189
Vehicle operating leases	27
Vehicle finance leases	1
Cash payments for lease liabilities within financing activities:
Vehicle finance leases	38
Non-cash activities - increase (decrease) in ROU assets in exchange for lease liabilities:
Property operating leases ^(a)	(113		)
Vehicle operating leases ^(a)	(8		)
Vehicle finance leases	35

_________


^(a)	ROU assets obtained in exchange for lease liabilities from initial recognition.

Maturities of lease liabilities as of March 31, 2019 are as follows:



	Property Operating leases			Vehicle Finance leases		Vehicle Operating leases			Other Finance leases
Within 1 year	$	615		$	82	$	87		$	9
Between 1 and 2 years	404			12		43			6
Between 2 and 3 years	359			100		16			3
Between 3 and 4 years	304			5		6			3
Between 4 and 5 years	252			—		—			2
Thereafter	1,220			—		—			3
Total lease payments	3,154			199		152			26
Less: imputed interest	(634		)	—		(5		)	(3		)
Total	$	2,520		$	199	$	147		$	23

Future minimum lease payments required under noncancelable operating leases, including minimum concession fees charged by airport authorities, which in many locations are recoverable from vehicle rental customers, as of December 31, 2018, were as follows:



	Amount
2019	$	835
2020	476
2021	345
2022	253
2023	162
Thereafter	590
	$	2,661

Restructuring

3 Months Ended

Mar. 31, 2019

Restructuring and Related Activities [Abstract]

Restructuring Activities


3.	Restructuring and Other Related Charges

Restructuring

During first quarter 2019, the Company initiated a restructuring plan to drive global efficiency by improving processes and consolidating functions, and to create new objectives and strategies for its U.S. truck rental operations by reducing headcount, large vehicles and rental locations (“T19”). During the three months ended March 31, 2019, as part of this process, the Company formally communicated the termination of employment to approximately 160 employees, and as of March 31, 2019, the Company had terminated approximately 130 of these employees. The Company expects further restructuring expense of approximately $40 million related to this initiative to be incurred in 2019.

During first quarter 2018, the Company initiated a strategic restructuring plan to improve processes and reduce headcount in response to its new workforce planning technology that allows more effective management of staff levels (“Workforce planning”). The costs associated with this initiative primarily represent severance, outplacement services and other costs associated with employee terminations, the majority of which have been settled in cash. This initiative is complete.

The following tables summarize the changes to our restructuring-related liabilities and identify the amounts recorded within the Company’s reporting segments for restructuring charges and corresponding payments and utilizations:



		Americas			International			Total
Balance as of January 1, 2019		$	—		$	2		$	2
	Restructuring expense:
	T19	14			4			18
	Restructuring payment/utilization:
	T19	(14		)	(2		)	(16		)
	Workforce planning	—			(1		)	(1		)
Balance as of March 31, 2019		$	—		$	3		$	3

		Personnel Related			Other ^(a)			Total
Balance as of January 1, 2019		$	1		$	1		$	2
	Restructuring expense:
	T19	8			10			18
	Restructuring payment/utilization:
	T19	(7		)	(9		)	(16		)
	Workforce planning	(1		)	—			(1		)
Balance as of March 31, 2019		$	1		$	2		$	3

__________


^(a)	Includes expenses primarily related to the disposition of vehicles.

Other Related Charges

Officer Separation Costs

On March 18, 2019, the Company announced the resignation of Mark J. Servodidio as the Company’s President, International effective June 14, 2019. In connection with Mr. Servodidio’s departure, the Company recorded other related charges of approximately $3 million, inclusive of accelerated stock-based compensation expense.

Earnings Per Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (“EPS”) (shares in millions):



		Three Months Ended March 31,
		2019			2018
Net loss for basic and diluted EPS		$	(91	)	$	(87	)

Basic and diluted weighted average shares outstanding ^(a)		75.8			81.0

Loss per share:
	Basic and diluted	$	(1.20	)	$	(1.08	)

__________

^(a)

For the three months ended March 31, 2019 and 2018, 1.3 million and 1.5 million non-vested stock awards, respectively, have an anti-dilutive effect and therefore are excluded from the computation of diluted weighted average shares outstanding. For the three months ended March 31, 2018, 0.1 million outstanding options have an anti-dilutive effect and therefore are excluded from the computation of diluted weighted average shares outstanding.

Other Current Assets

3 Months Ended

Mar. 31, 2019

Other Current Assets Disclosure [Abstract]

Other Current Assets [Text Block]

Other Current Assets

Other current assets consisted of:



	As of March 31, 2019		As of December 31, 2018
Prepaid expenses	$	257	$	241
Sales and use taxes	228		180
Other	197		183
Other current assets	$	682	$	604

Intangible Assets

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets consisted of:



	As of March 31, 2019						As of December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized Intangible Assets
License agreements	$	306	$	177	$	129	$	305	$	168	$	137
Customer relationships	248		145		103		251		141		110
Other	51		22		29		52		21		31
Total	$	605	$	344	$	261	$	608	$	330	$	278

Unamortized Intangible Assets
Goodwill ^(a)	$	1,086					$	1,092
Trademarks	$	548					$	547

__________


^(a)	The change in the carrying amount since December 31, 2018, primarily reflects currency translation.

For the three months ended March 31, 2019 and 2018, amortization expense related to amortizable intangible assets was approximately $17 million and $14 million, respectively. Based on the Company’s amortizable intangible assets at March 31, 2019, the Company expects amortization expense of approximately $41 million for the remainder of 2019, $48 million for 2020, $34 million for 2021, $25 million for 2022, $22 million for 2023 and $20 million for 2024, excluding effects of currency exchange rates.

Vehicle Rental Activities

3 Months Ended

Mar. 31, 2019

Vehicle Rental Activities [Abstract]

Vehicle Rental Activities

The components of vehicles, net within assets under vehicle programs were as follows:



	As of			As of
	March 31,			December 31,
	2019			2018
Rental vehicles	$	13,601		$	12,548
Less: Accumulated depreciation	(1,480		)	(1,670		)
	12,121			10,878
Vehicles held for sale	464			596
Vehicles, net	$	12,585		$	11,474

The components of vehicle depreciation and lease charges, net are summarized below:



	Three Months Ended March 31,
	2019			2018
Depreciation expense	$	436		$	460
Lease charges	57			56
(Gain) loss on sale of vehicles, net	(8		)	(1		)
Vehicle depreciation and lease charges, net	$	485		$	515

At March 31, 2019 and 2018, the Company had payables related to vehicle purchases included in liabilities under vehicle programs - other of $632 million and $641 million, respectively, and receivables related to vehicle sales included in assets under vehicle programs - receivables from vehicle manufacturers and other of $474 million and $329 million, respectively.

Income Taxes

3 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]


8.	Income Taxes

The Company’s effective tax rate for the three months ended March 31, 2019 was a benefit of 33.1%. Such rate differed from the Federal statutory rate of 21.0% primarily due to foreign taxes on our international operations and state taxes.

The Company’s effective tax rate for the three months ended March 31, 2018 was a benefit of 32.6%. Such rate differed from the Federal statutory rate of 21.0% primarily due to U.S. and foreign taxes on our international operations and state taxes. Tax benefits associated with stock-based compensation increased the benefit for income taxes recorded in the period.

Accounts Payable and Other Current Liabilities

3 Months Ended

Mar. 31, 2019

Accounts Payable and Other Current Liabilities [Abstract]

Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]

Accounts Payable and Other Current Liabilities

Accounts payable and other current liabilities consisted of:



	As of		As of
	March 31,		December 31,
	2019		2018
Short-term operating lease liabilities	$	474	$	—
Accounts payable	415		371
Accrued sales and use taxes	234		208
Accrued advertising and marketing	194		192
Deferred lease revenues – current	176		140
Public liability and property damage insurance liabilities – current	149		149
Accrued payroll and related	148		200
Other	445		433
Accounts payable and other current liabilities	$	2,235	$	1,693

Long-term Debt and Borrowing Arrangements

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Long-term Debt and Borrowing Arrangements

Long-term Corporate Debt and Borrowing Arrangements

Long-term corporate debt and borrowing arrangements consisted of:



		As of			As of
	Maturity Dates	March 31,			December 31,
	Maturity Dates	2019			2018
5½% Senior Notes	April 2023	$	675		$	675
6⅜% Senior Notes	April 2024	350			350
4⅛% euro-denominated Senior Notes	November 2024	337			344
Floating Rate Term Loan ^(a)	February 2025	1,120			1,123
5¼% Senior Notes	March 2025	375			375
4½% euro-denominated Senior Notes	May 2025	280			287
4¾% euro-denominated Senior Notes	January 2026	393			401
Other ^(b)		36			41
Deferred financing fees		(42		)	(45		)
Total		3,524			3,551
Less: Short-term debt and current portion of long-term debt		23			23
Long-term debt		$	3,501		$	3,528

__________

^(a)

The floating rate term loan is part of the Company’s senior revolving credit facility, which is secured by pledges of capital stock of certain subsidiaries of the Company, and liens on substantially all of the Company’s intellectual property and certain other real and personal property. As of March 31, 2019, the floating rate term loan due 2025 bears interest at one-month LIBOR plus 200 basis points, for an aggregate rate of 4.50%. The Company has entered into a swap to hedge $700 million of its interest rate exposure related to the floating rate term loan at an aggregate rate of 3.67%.


^(b)	Primarily includes finance leases which are secured by liens on the related assets.

Committed Credit Facilities and Available Funding Arrangements

At March 31, 2019, the committed corporate credit facilities available to the Company and/or its subsidiaries were as follows:



	Total Capacity		Outstanding Borrowings		Letters of Credit Issued		Available Capacity
Senior revolving credit facility maturing 2023 ^(a)	$	1,800	$	—	$	1,163	$	637

__________


^(a)	The senior revolving credit facility bears interest at one-month LIBOR plus 200 basis points and is part of the Company’s senior credit facility, which is secured by pledges of capital stock of certain subsidiaries of the Company, and liens on substantially all of the Company’s intellectual property and certain other real and personal property.

At March 31, 2019, the Company had various uncommitted credit facilities available, under which it had drawn approximately $1 million, which bear interest at rates between 0.73% and 1.53%.

Debt Covenants

The agreements governing the Company’s indebtedness contain restrictive covenants, including restrictions on dividends paid to the Company by certain of its subsidiaries, the incurrence of additional indebtedness by the Company and certain of its subsidiaries, acquisitions, mergers, liquidations, and sale and leaseback transactions. The Company’s senior credit facility also contains a consolidated first lien leverage ratio requirement. As of March 31, 2019, the Company was in compliance with the financial covenants governing its indebtedness.

Debt Under Vehicle Programs and Borrowing Arrangements

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Debt Under Vehicle Programs and Borrowing Arrangements

Debt under vehicle programs, including related party debt due to Avis Budget Rental Car Funding (AESOP) LLC (“Avis Budget Rental Car Funding”), consisted of:



	As of			As of
	March 31,			December 31,
	2019			2018
Americas - Debt due to Avis Budget Rental Car Funding ^(a)	$	8,576		$	7,393
Americas - Debt borrowings	655			635
International - Debt borrowings	1,835			2,060
International - Finance leases	186			191
Other	1			2
Deferred financing fees ^(b)	(48		)	(49		)
Total	$	11,205		$	10,232

__________


^(a)	The increase reflects additional borrowings principally to fund increases in the Company’s car rental fleet.


^(b)	Deferred financing fees related to Debt due to Avis Budget Rental Car Funding as of March 31, 2019 and December 31, 2018 was $36 million and $35 million, respectively.

In February 2019, the Company’s Avis Budget Rental Car Funding subsidiary issued approximately $600 million in asset-backed notes with an expected final payment date of March 2022 incurring interest at a weighted average rate of 3.56%.

Debt Maturities

The following table provides the contractual maturities of the Company’s debt under vehicle programs, including related party debt due to Avis Budget Rental Car Funding, at March 31, 2019.



	Debt under Vehicle Programs ^(a)
Within 1 year	$	1,559
Between 1 and 2 years ^(b)	4,430
Between 2 and 3 years ^(c)	2,693
Between 3 and 4 years	1,264
Between 4 and 5 years	1,078
Thereafter	229
Total	$	11,253

__________


^(a)	Vehicle-backed debt primarily represents asset-backed securities.


^(b)	Includes $3.0 billion of bank and bank-sponsored facilities.


^(c)	Includes $1.3 billion of bank and bank-sponsored facilities.

Committed Credit Facilities and Available Funding Arrangements

As of March 31, 2019, available funding under the Company’s vehicle programs, including related party debt due to Avis Budget Rental Car Funding, consisted of:



	Total Capacity ^(a)		Outstanding Borrowings ^(b)		Available Capacity
Americas - Debt due to Avis Budget Rental Car Funding	$	9,236	$	8,576	$	660
Americas - Debt borrowings	926		655		271
International - Debt borrowings	2,985		1,835		1,150
International - Finance leases	207		186		21
Other	1		1		—
Total	$	13,355	$	11,253	$	2,102

__________


^(a)	Capacity is subject to maintaining sufficient assets to collateralize debt.


^(b)	The outstanding debt is collateralized by vehicles and related assets of $9.9 billion for Americas - Debt due to Avis Budget Rental Car Funding; $0.7 billion for Americas - Debt borrowings; $2.0 billion for International - Debt borrowings; and $0.2 billion for International - Finance leases.

Debt Covenants

The agreements under the Company’s vehicle-backed funding programs contain restrictive covenants, including restrictions on dividends paid to the Company by certain of its subsidiaries and restrictions on indebtedness, mergers, liens, liquidations, and sale and leaseback transactions and in some cases also require compliance with certain financial requirements. As of March 31, 2019, the Company is not aware of any instances of non-compliance with any of the financial covenants contained in the debt agreements under its vehicle-backed funding programs.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contingencies In 2006, the Company completed the spin-offs of its Realogy and Wyndham subsidiaries. The Company does not believe that the impact of any resolution of pre-existing contingent liabilities in connection with the spin-offs should result in a material liability to the Company in relation to its consolidated financial position or liquidity, as Realogy and Wyndham each have agreed to assume responsibility for these liabilities. The Company is also named in litigation that is primarily related to the businesses of its former subsidiaries, including Realogy and Wyndham. The Company is entitled to indemnification from such entities for any liability resulting from such litigation. In February 2017, following a state court trial in Georgia, a jury found the Company liable for damages in a case brought by a plaintiff who was injured in a vehicle accident allegedly caused by an employee of an independent contractor of the Company who was acting outside of the scope of employment. In March 2017, the Company was also found liable for damages in a companion case arising from the same incident. The Company is appealing both verdicts and considers the attribution of liability to the Company, and the amount of damages awarded, to be unsupported by the facts of these cases. The Company has recognized a liability for the expected loss related to these cases, net of recoverable insurance proceeds, of approximately $12 million. The Company is involved in claims, legal proceedings and governmental inquiries that are incidental to its vehicle rental and car sharing operations, including, among others, contract and licensee disputes, competition matters, employment and wage-and-hour claims, insurance and liability claims, intellectual property claims, business practice disputes and other regulatory, environmental, commercial and tax matters. Litigation is inherently unpredictable and, although the Company believes that its accruals are adequate and/or that it has valid defenses in these matters, unfavorable resolutions could occur. The Company estimates that the potential exposure resulting from adverse outcomes of legal proceedings in which it is reasonably possible that a loss may be incurred could, in the aggregate, be up to approximately $45 million in excess of amounts accrued as of March 31, 2019. The Company does not believe that the impact should result in a material liability to the Company in relation to its consolidated financial condition or results of operations. Commitments to Purchase Vehicles The Company maintains agreements with vehicle manufacturers under which the Company has agreed to purchase approximately $6.0 billion of vehicles from manufacturers over the next 12 months financed primarily through the issuance of vehicle-backed debt and cash received upon the disposition of vehicles. Certain of these commitments are subject to the vehicle manufacturers satisfying their obligations under their respective repurchase and guaranteed depreciation agreements. Concentrations Concentrations of credit risk at March 31, 2019 include (i) risks related to the Company’s repurchase and guaranteed depreciation agreements with domestic and foreign car manufacturers, primarily with respect to receivables for program cars that have been disposed but for which the Company has not yet received payment from the manufacturers and (ii) risks related to Realogy and Wyndham, including receivables of $29 million and $18 million, respectively, related to certain contingent, income tax and other corporate liabilities assumed by Realogy and Wyndham in connection with their disposition.

Stockholders' Equity

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

Share Repurchases

The Company’s Board of Directors has authorized the repurchase of up to $1.7 billion of its common stock under a plan originally approved in 2013 and subsequently expanded, most recently in August 2018. During the three months ended March 31, 2019 and 2018, the Company did not repurchase any shares of common stock under the program. As of March 31, 2019, approximately $150 million of authorization remains available to repurchase common stock under this plan.

Total Comprehensive Income (Loss)

Comprehensive income (loss) consists of net income (loss) and other gains and losses affecting stockholders’ equity that, under GAAP, are excluded from net income (loss).

The components of other comprehensive income (loss) were as follows:



		Three Months Ended March 31,
		2019			2018
Net loss		$	(91	)	$	(87	)
Other comprehensive income (loss):
	Currency translation adjustments (net of tax of $(6) and $5, respectively)	1			1
	Net unrealized gain (loss) on cash flow hedges (net of tax of $3 and $(2), respectively)	(8		)	6
	Minimum pension liability adjustment (net of tax of $0 and $(1), respectively)	2			1
		(5		)	8
Comprehensive loss		$	(96	)	$	(79	)

__________

Currency translation adjustments exclude income taxes related to indefinite investments in foreign subsidiaries.

Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) were as follows:



		Currency Translation Adjustments			Net Unrealized Gains (Losses) on Cash Flow Hedges^(a)			Net Unrealized Gains (Losses) on Available-for Sale Securities			Minimum Pension Liability Adjustment^(b)			Accumulated Other Comprehensive Income (Loss)
Balance, December 31, 2018		$	(3	)	$	2		$	—		$	(132	)	$	(133	)
	Cumulative effect of accounting change ^(c)	—			1			—			—			1
Balance, January 1, 2019		$	(3	)	$	3		$	—		$	(132	)	$	(132	)
	Other comprehensive income (loss) before reclassifications	1			(7		)	—			1			(5		)
	Amounts reclassified from accumulated other comprehensive income (loss)	—			(1		)	—			1			—
Net current-period other comprehensive income (loss)		1			(8		)	—			2			(5		)
Balance, March 31, 2019		$	(2	)	$	(5	)	$	—		$	(130	)	$	(137	)

Balance, December 31, 2017		$	71		$	5		$	2		$	(102	)	$	(24	)
	Cumulative effect of accounting change	7			1			(2		)	(12		)	(6		)
Balance, January 1, 2018		$	78		$	6		$	—		$	(114	)	$	(30	)
	Other comprehensive income (loss) before reclassifications	1			6			—			—			7
	Amounts reclassified from accumulated other comprehensive income (loss)	—			—			—			1			1
Net current-period other comprehensive income (loss)		1			6			—			1			8
Balance, March 31, 2018		$	79		$	12		$	—		$	(113	)	$	(22	)

__________

All components of accumulated other comprehensive income (loss) are net of tax, except currency translation adjustments, which exclude income taxes related to indefinite investments in foreign subsidiaries and include a $80 million gain, net of tax, as of March 31, 2019 related to the Company’s hedge of its net investment in euro-denominated foreign operations (see Note 15-Financial Instruments).


^(a)	For the three months ended March 31, 2019, the amount reclassified from accumulated other comprehensive income (loss) into corporate interest expense was $2 million ($1 million, net of tax).


^(b)	For the three months ended March 31, 2019 and 2018, amounts reclassified from accumulated other comprehensive income (loss) into selling, general and administrative expenses were $2 million ($1 million, net of tax) and $2 million ($1 million, net of tax), respectively.


^(c)	See Note 1-Basis of Presentation for the impact of adoption of ASU 2017-12.

Stock-Based Compensation

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

The Company recorded stock-based compensation expense of $5 million ($4 million, net of tax) during the three months ended March 31, 2019 and 2018.

The activity related to restricted stock units (“RSUs”) consisted of (in thousands of shares):



			Number of Shares		Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in millions)
Time-based RSUs
	Outstanding at January 1, 2019		838		$	38.67
		Granted ^(a)	422		34.82
		Vested ^(b)	(336	)	35.56
		Forfeited	(27	)	39.40
	Outstanding and expected to vest at March 31, 2019 ^(c)		897		$	38.01	1.4	$	31
Performance-based and market-based RSUs
	Outstanding at January 1, 2019		1,169		$	35.14
		Granted ^(a)	480		34.82
		Vested	—		—
		Forfeited	(413	)	24.23
	Outstanding at March 31, 2019		1,236		$	38.66	2.0	$	43
	Outstanding and expected to vest at March 31, 2019 ^(c)		487		$	39.81	2.3	$	17

__________


^(a)	Reflects the maximum number of stock units assuming achievement of all performance-, market- and time-vesting criteria and does not include those for non-employee directors. The weighted-average fair value of time-based RSUs and performance-based RSUs granted during the three months ended March 31, 2018 was $48.66 and $48.72 respectively.


^(b)	The total fair value of RSUs vested during March 31, 2019 and 2018 was $12 million and $13 million, respectively.


^(c)	Aggregate unrecognized compensation expense related to time-based RSUs and performance-based RSUs amounted to $45 million and will be recognized over a weighted average vesting period of 1.7 years.

The stock option activity consisted of (in thousands of shares):



		Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in millions)
Outstanding at January 1, 2019		57		$	0.79	0.1	$	1
	Granted	—		—			—
	Exercised ^(a)	(57	)	0.79			1
	Forfeited/expired	—		—			—
Outstanding and exercisable at March 31, 2019		—		$	—	—	$	—

__________


^(a)	Stock options exercised during the three months ended March 31, 2018 had an intrinsic value of $6 million and the cash received was $2 million.

Financial Instruments

3 Months Ended

Mar. 31, 2019

Investments, All Other Investments [Abstract]

Financial Instruments

Derivative Instruments and Hedging Activities

Currency Risk. The Company uses currency exchange contracts to manage its exposure to changes in currency exchange rates associated with certain of its non-U.S.-dollar denominated receivables and forecasted royalties, forecasted earnings of non-U.S. subsidiaries and forecasted non-U.S.-dollar denominated acquisitions. The Company primarily hedges a portion of its current-year currency exposure to the Australian, Canadian and New Zealand dollars, the euro and the British pound sterling. The majority of forward contracts do not qualify for hedge accounting treatment. The fluctuations in the value of these forward contracts do, however, largely offset the impact of changes in the value of the underlying risk they economically hedge. Forward contracts used to hedge forecasted third-party receipts and disbursements up to 12 months are designated and do qualify as cash flow hedges. The Company has designated its euro-denominated notes as a hedge of its investment in euro-denominated foreign operations.

The estimated net amount of existing gains or losses the Company expects to reclassify from accumulated other comprehensive income (loss) to earnings for cash flow and net investment hedges over the next 12 months is not material.

Interest Rate Risk. The Company uses various hedging strategies including interest rate swaps and interest rate caps to create what it deems an appropriate mix of fixed and floating rate assets and liabilities. The Company uses interest rate swaps and interest rate caps to manage the risk related to its floating rate corporate debt and its floating rate vehicle-backed debt. The Company records the changes in the fair value of its cash flow hedges to other comprehensive income (loss), net of tax, and subsequently reclassifies these amounts into earnings in the period during which the hedged transaction affects earnings and is presented in the same income statement line item as the earnings effect of the hedged item. The Company records the gains or losses related to freestanding derivatives, which are not designated as a hedge for accounting purposes, currently in earnings and are presented in the same line of the income statement expected for the hedged item. The Company estimates that $5 million of gains currently recorded in accumulated other comprehensive income (loss) will be recognized in earnings over the next 12 months.

Commodity Risk. The Company periodically enters into derivative commodity contracts to manage its exposure to changes in the price of gasoline. These instruments were designated as freestanding derivatives and the changes in fair value are recorded in earnings and are presented in the same line of the income statement expected for the hedged item.

The Company held derivative instruments with absolute notional values as follows:



	As of March 31, 2019
Foreign exchange contracts	$	1,839
Interest rate caps ^(a)	8,335
Interest rate swaps	1,500

Commodity contracts (millions of gallons of unleaded gasoline)	14

__________


^(a)	Represents $5.7 billion of interest rate caps sold, partially offset by approximately $2.7 billion of interest rate caps purchased. These amounts exclude $3.0 billion of interest rate caps purchased by the Company’s Avis Budget Rental Car Funding subsidiary as it is not consolidated by the Company.

Estimated fair values (Level 2) of derivative instruments were as follows:



		As of March 31, 2019				As of December 31, 2018
		Fair Value, Derivative Assets		Fair Value, Derivative Liabilities		Fair Value, Derivative Assets		Fair Value, Derivative Liabilities
Derivatives designated as hedging instruments
	Interest rate swaps ^(a)	$	7	$	15	$	12	$	8

Derivatives not designated as hedging instruments
	Foreign exchange contracts ^(b)	16		4		5		11
	Interest rate caps ^(c)	—		—		—		2
	Commodity contracts ^(b)	3		—		—		1
	Total	$	26	$	19	$	17	$	22

__________

Amounts in this table exclude derivatives issued by Avis Budget Rental Car Funding, as it is not consolidated by the Company; however, certain amounts related to the derivatives held by Avis Budget Rental Car Funding are included within accumulated other comprehensive income (loss), as discussed in Note 13-Stockholders’ Equity.


^(a)	Included in other non-current assets or other non-current liabilities.


^(b)	Included in other current assets or other current liabilities.


^(c)	Included in assets under vehicle programs or liabilities under vehicle programs.

The effects of derivatives recognized in the Company’s Consolidated Condensed Financial Statements were as follows:



		Three Months Ended March 31,
		2019			2018
Derivatives designated as hedging instruments ^(a)
	Interest rate swaps^(b)	$	(8	)	$	6
	Euro-denominated notes^(c)	16			(13		)
Derivatives not designated as hedging instruments ^(d)
	Foreign exchange contracts^(e)	1			(9		)
	Commodity contracts ^(f)	3			—
	Total	$	12		$	(16	)

__________


^(a)	Recognized, net of tax, as a component of other comprehensive income (loss) within stockholders’ equity.


^(b)	Classified as a net unrealized gain (loss) on cash flow hedges in accumulated other comprehensive income (loss). Refer to Note 13-Stockholders’ Equity for amounts reclassified from accumulated other comprehensive income into earnings.


^(c)	Classified as a net investment hedge within currency translation adjustment in accumulated other comprehensive income (loss).


^(d)	Gains (losses) related to derivative instruments are expected to be largely offset by (losses) gains on the underlying exposures being hedged.


^(e)	For the three months ended March 31, 2019, included a $4 million loss in interest expense and a $5 million gain in operating expense. For the three months ended March 31, 2018, included a $13 million loss in interest expense and a $4 million gain in operating expense.


^(f)	Included in operating expense.

Debt Instruments

The carrying amounts and estimated fair values (Level 2) of debt instruments were as follows:



		As of March 31, 2019				As of December 31, 2018
		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Corporate debt
	Short-term debt and current portion of long-term debt	$	23	$	23	$	23	$	23
	Long-term debt	3,501		3,561		3,528		3,462

Debt under vehicle programs
	Vehicle-backed debt due to Avis Budget Rental Car Funding	$	8,540	$	8,607	$	7,358	$	7,383
	Vehicle-backed debt	2,663		2,677		2,871		2,881
	Interest rate swaps and interest rate caps ^(a)	2		2		3		3

__________


^(a)	Derivatives in a liability position.

Segment Information

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Segment Information

The Company’s chief operating decision-maker assesses performance and allocates resources based upon the separate financial information from each of the Company’s operating segments. In identifying its reportable segments, the Company considered the nature of services provided, the geographical areas in which the segments operated and other relevant factors. The Company aggregates certain of its operating segments into its reportable segments.

Management evaluates the operating results of each of its reportable segments based upon revenues and “Adjusted EBITDA,” which the Company defines as income (loss) from continuing operations before non-vehicle related depreciation and amortization, any impairment charges, restructuring and other related charges, early extinguishment of debt costs, non-vehicle related interest, transaction-related costs, net charges for unprecedented personal-injury legal matters, non-operational charges related to shareholder activist activity and income taxes. Net charges for unprecedented personal-injury legal matters are recorded within operating expenses in the Company’s Consolidated Condensed Statement of Comprehensive Income. Non-operational charges related to shareholder activist activity include third party advisory, legal and other professional service fees and are recorded within selling, general and administrative expenses in the Company’s Consolidated Condensed Statement of Comprehensive Income. The Company’s presentation of Adjusted EBITDA may not be comparable to similarly-titled measures used by other companies.



			Three Months Ended March 31,
			2019					2018
			Revenues		Adjusted EBITDA			Revenues		Adjusted EBITDA
Americas			$	1,327	$	35		$	1,348	$	15
International			593		(21		)	620		3
Corporate and Other ^(a)			—		(15		)	—		(16		)
	Total Company		$	1,920	$	(1	)	$	1,968	$	2

Reconciliation of Adjusted EBITDA to loss before income taxes
					2019					2018
Adjusted EBITDA					$	(1	)			$	2
Less:		Non-vehicle related depreciation and amortization			67					61
		Interest expense related to corporate debt, net:
		Interest expense			42					46
		Early extinguishment of debt			—					5
		Restructuring and other related charges			21					6
		Transaction-related costs, net			5					4
		Non-operational charges related to shareholder activist activity			—					9
Loss before income taxes					$	(136	)			$	(129	)

__________


^(a)	Includes unallocated corporate overhead which is not attributable to a particular segment.

As of March 31, 2019 and December 31, 2018, Americas’ segment assets exclusive of assets under vehicle programs were approximately $5.8 billion and $3.8 billion, respectively, and International segment assets exclusive of assets under vehicle programs were approximately $3.0 billion and $2.5 billion, respectively. The increases in assets exclusive of assets under vehicle programs is due to the adoption of ASU 2016-02 (see Note 1-Basis of Presentation).

As of March 31, 2019 and December 31, 2018, Americas’ assets under vehicle programs were approximately $11.0 billion and $9.7 billion, due to seasonality. Since December 31, 2018, there have been no significant changes in International segment assets under vehicle programs.

Guarantor and Non-Guarantor Consolidating Condensed Financial Statements	3 Months Ended
	Mar. 31, 2019
Condensed Financial Information Disclosure [Abstract]
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	Guarantor and Non-Guarantor Consolidating Condensed Financial Statements The following consolidating financial information presents Consolidating Condensed Statements of Comprehensive Income for the three months ended March 31, 2019 and 2018, Consolidating Condensed Balance Sheets as of March 31, 2019 and December 31, 2018, and Consolidating Condensed Statements of Cash Flows for the three months ended March 31, 2019 and 2018 for: (i) Avis Budget Group, Inc. (the “Parent”); (ii) ABCR and Avis Budget Finance, Inc. (the “Subsidiary Issuers”); (iii) the guarantor subsidiaries; (iv) the non-guarantor subsidiaries; (v) elimination entries necessary to consolidate the Parent with the Subsidiary Issuers, and the guarantor and non-guarantor subsidiaries; and (vi) the Company on a consolidated basis. The Subsidiary Issuers and the guarantor and non-guarantor subsidiaries are 100% owned by the Parent, either directly or indirectly. All guarantees are full and unconditional and joint and several. This financial information is being presented in relation to the Company’s guarantee of the payment of principal, premium (if any) and interest on the notes issued by the Subsidiary Issuers. See Note 10 - Long-term Corporate Debt and Borrowing Arrangements for additional description of these guaranteed notes. The Senior Notes are guaranteed by the Parent and certain subsidiaries. Investments in subsidiaries are accounted for using the equity method of accounting for purposes of the consolidating presentation. The principal elimination entries relate to investments in subsidiaries and intercompany balances and transactions. For purposes of the accompanying Consolidating Condensed Statements of Comprehensive Income, certain expenses incurred by the Subsidiary Issuers are allocated to the guarantor and non-guarantor subsidiaries.

Subsequent Events

3 Months Ended

Mar. 31, 2019

Subsequent Event [Line Items]

Subsequent Events [Text Block]


18.	Subsequent Events

In April 2019, the Company’s Avis Budget Rental Car Funding subsidiary issued approximately $650 million in asset-backed notes with an expected final payment date of September 2024 incurring interest at a weighted average rate of 3.44%.

In April 2019, the Company completed the sale of its 50% investment in Anji to Shanghai Automotive Industry Sales Company, Ltd. for $64 million, net of cross-border withholding taxes.

* * * *

Basis of Presentation Basis of Presentation (Policies)

3 Months Ended

Mar. 31, 2019

Basis of Presentation [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation

The Company operates the following reportable business segments:


•	Americas—consisting primarily of (i) vehicle rental operations in North America, South America, Central America and the Caribbean, (ii) car sharing operations in certain of these markets, and (iii) licensees in the areas in which the Company does not operate directly.


•	International—consisting primarily of (i) vehicle rental operations in Europe, the Middle East, Africa, Asia and Australasia, (ii) car sharing operations in certain of these markets, and (iii) licensees in the areas in which the Company does not operate directly.

Vehicle Program Policy [Policy Text Block]

Foreign Currency Transactions and Translations Policy [Policy Text Block]

New Accounting Pronouncements, Policy [Policy Text Block]

Adoption of New Accounting Pronouncements

Nonemployee Share-Based Payment Accounting

Accounting for Hedging Activities

Leases

Lessor

Lessee

Recently Issued Accounting Pronouncements

Intangibles—Goodwill and Other—Internal—Use Software

Compensation—Retirement Benefits—Defined Benefit Plans

Fair Value Measurement

Measurement of Credit Losses on Financial Instruments

Leases (Policies)	3 Months Ended
Leases (Policies)	Mar. 31, 2019
Leases [Abstract]
Lessee, Leases [Policy Text Block]	Lessee The Company has operating and finance leases for rental locations, corporate offices, vehicle rental fleet and equipment. Many of the Company’s operating leases for rental locations contain concession agreements with various airport authorities that allow the Company to conduct its vehicle rental operations on site. In general, concession fees for airport locations are based on a percentage of total commissionable revenue (as defined by each airport authority), some of which are subject to minimum annual guaranteed amounts. Concession fees other than minimum annual guaranteed amounts are not included in the measurement of operating lease ROU assets and operating lease liabilities, and are recorded as variable lease expense as incurred. The Company’s operating leases for rental locations often also require the Company to pay or reimburse operating expenses.
Lessor, Leases [Policy Text Block]	Lessor For periods after January 1, 2019, the Company combines all lease and nonlease components of its vehicle rental contracts for which the timing and pattern of transfer are the same and the lease component meets the classification of an operating lease, and accounts for them in accordance with Topic 842. The Company derives revenues primarily by providing vehicle rentals and other related products and mobility services to commercial and leisure customers. Other related products and mobility services include sales of collision and loss damage waivers under which a customer is relieved from financial responsibility arising from vehicle damage incurred during the rental; products and services for driving convenience such as fuel service options, chauffeur drive services, roadside safety net, electronic toll collection, tablet rentals, access to satellite radio, portable navigation units and child safety seat rentals; and rentals of other supplemental items including automobile towing equipment and other moving accessories and supplies. The Company also receives payment from customers for certain operating expenses that it incurs, including airport concession fees that are paid by the Company in exchange for the right to operate at airports and other locations, as well as vehicle licensing fees. Vehicle rentals and other related products and mobility services are recognized evenly over the period of rental, which is on average four days. In addition, the Company collects membership leasing fees in connection with its car sharing business. Membership leasing fees are generally nonrefundable, are deferred and recognized ratably over the period of membership.

Basis of Presentation Basis of Presentation (Tables)

3 Months Ended

Mar. 31, 2019

Basis of Presentation [Abstract]

Reconciliation of cash and cash equivalents (2016-18) [Table Text Block]



	As of March 31,
	2019		2018
Cash and cash equivalents	$	540	$	544
Program cash	131		147
Restricted cash ^(a)	5		10
Total cash and cash equivalents, program and restricted cash	$	676	$	701

________


^(a)	Included within other current assets.

Disaggregation of Revenue [Table Text Block]

The following table presents the Company’s revenues disaggregated by geography.



	Three Months Ended March 31,
	2019		2018
Americas	$	1,327	$	1,348
Europe, Middle East and Africa	433		447
Asia and Australasia	160		173
Total revenues	$	1,920	$	1,968

Disaggregation of Revenue by Brand [Table Text Block]

The following table presents the Company’s revenues disaggregated by brand.



	Three Months Ended March 31,
	2019		2018
Avis	$	1,100	$	1,145
Budget	651		642
Other	169		181
Total revenues	$	1,920	$	1,968

________

Other includes Zipcar and other operating brands.

Deferred Revenue Rollforward [Table Text Block]

Deferred Revenue. The following table presents changes in deferred revenue associated with the Company’s customer loyalty program.



	Three Months Ended March 31,
	2019			2018
Balance, January 1	$	64		$	69
Revenue deferred	5			7
Revenue recognized	(6		)	(4		)
Balance, March 31	$	63		$	72

_______

Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Lease Revenues Disaggregated by Geography [Table Text Block]

The following table presents the Company’s lease revenues disaggregated by geography.



	Three Months Ended March 31, 2019
Americas	$	1,319
Europe, Middle East and Africa	414
Asia and Australasia	157
Total lease revenues	$	1,890

Lease Revenues Disaggregated by Brand [Table Text Block]

The following table presents the Company’s lease revenues disaggregated by brand.



	Three Months Ended March 31, 2019
Avis	$	1,083
Budget	640
Other	167
Total lease revenues	$	1,890

________

Other includes Zipcar and other operating brands.

Lease, Cost [Table Text Block]

The components of lease expense are as follows:



	Three Months Ended March 31, 2019
Property leases ^(a)
Operating lease expense	$	177
Variable lease expense	51
Total property lease expense	$	228

Vehicle leases
Finance lease expense:
Amortization of ROU assets ^(b)	$	11
Interest on lease liabilities ^(c)	1
Operating lease expense ^(b)	57
Total vehicle lease expense	$	69

__________


^(a)	Primarily included in operating expense.


^(b)	Included in vehicle depreciation and lease charges, net.

Supplemental Balance Sheet Information related to Leases [Table Text Block]

Supplemental balance sheet information related to leases is as follows:



	As of March 31, 2019
Property leases
Operating lease ROU assets	$	2,506

Short-term operating lease liabilities ^(a)	$	474
Long-term operating lease liabilities	2,046
Operating lease liabilities	$	2,520

Weighted average remaining lease term	9.5 years
Weighted average discount rate	4.58		%

Vehicle leases
Finance
Finance lease ROU assets, gross	$	282
Accumulated amortization	(50		)
Finance lease ROU assets, net ^(b)	$	232

Short-term vehicle finance lease liabilities	$	82
Long-term vehicle finance lease liabilities	117
Vehicle finance lease liabilities^(c)	$	199

Weighted average remaining lease term	1.8 years
Weighted average discount rate	1.40		%

Operating
Vehicle operating lease ROU assets ^(d)	$	147

Short-term vehicle operating lease liabilities	$	82
Long-term vehicle operating lease liabilities	65
Vehicle operating lease liabilities ^(e)	$	147

Weighted average remaining lease term	2.8 years
Weighted average discount rate	3.09		%

Other leases
Finance property and equipment lease ROU assets, gross	$	25
Accumulated amortization	(2		)
Finance property and equipment lease ROU assets, net ^(f)	$	23

Short-term finance lease liabilities ^(g)	$	8
Long-term finance lease liabilities ^(h)	15
Finance lease liabilities	$	23

Weighted average remaining lease term	4.0 years
Weighted average discount rate	5.86		%

_________


^(a)	Included in Accounts payable and other current liabilities.


^(b)	Included in Vehicles, net within Assets under vehicle programs.


^(c)	Included in Debt within Liabilities under vehicle programs.


^(d)	Included in Receivables from vehicle manufacturers and other within Assets under vehicle programs.


^(e)	Included in Other within Liabilities under vehicle programs.


^(f)	Included in Property and equipment, net.


^(g)	Included in Short-term debt and current portion of long-term debt.


^(h)	Included in Long-term debt.

Supplemental Cash Flow Information related to Leases [Table Text Block]

Supplemental cash flow information related to leases is as follows:



	Three Months Ended March 31, 2019
Cash payments for lease liabilities within operating activities:
Property operating leases	$	189
Vehicle operating leases	27
Vehicle finance leases	1
Cash payments for lease liabilities within financing activities:
Vehicle finance leases	38
Non-cash activities - increase (decrease) in ROU assets in exchange for lease liabilities:
Property operating leases ^(a)	(113		)
Vehicle operating leases ^(a)	(8		)
Vehicle finance leases	35

_________


^(a)	ROU assets obtained in exchange for lease liabilities from initial recognition.

Finance and Operating, Liability, Maturity [Table Text Block]

Maturities of lease liabilities as of March 31, 2019 are as follows:



	Property Operating leases			Vehicle Finance leases		Vehicle Operating leases			Other Finance leases
Within 1 year	$	615		$	82	$	87		$	9
Between 1 and 2 years	404			12		43			6
Between 2 and 3 years	359			100		16			3
Between 3 and 4 years	304			5		6			3
Between 4 and 5 years	252			—		—			2
Thereafter	1,220			—		—			3
Total lease payments	3,154			199		152			26
Less: imputed interest	(634		)	—		(5		)	(3		)
Total	$	2,520		$	199	$	147		$	23

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]



	Amount
2019	$	835
2020	476
2021	345
2022	253
2023	162
Thereafter	590
	$	2,661

Restructuring (Tables)

3 Months Ended

Mar. 31, 2019

Restructuring and Related Activities [Abstract]

Summary Of Changes To Restructuring-Related Liabilities



		Americas			International			Total
Balance as of January 1, 2019		$	—		$	2		$	2
	Restructuring expense:
	T19	14			4			18
	Restructuring payment/utilization:
	T19	(14		)	(2		)	(16		)
	Workforce planning	—			(1		)	(1		)
Balance as of March 31, 2019		$	—		$	3		$	3

		Personnel Related			Other ^(a)			Total
Balance as of January 1, 2019		$	1		$	1		$	2
	Restructuring expense:
	T19	8			10			18
	Restructuring payment/utilization:
	T19	(7		)	(9		)	(16		)
	Workforce planning	(1		)	—			(1		)
Balance as of March 31, 2019		$	1		$	2		$	3

__________


^(a)	Includes expenses primarily related to the disposition of vehicles.

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Computation Of Basic And Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (“EPS”) (shares in millions):



		Three Months Ended March 31,
		2019			2018
Net loss for basic and diluted EPS		$	(91	)	$	(87	)

Basic and diluted weighted average shares outstanding ^(a)		75.8			81.0

Loss per share:
	Basic and diluted	$	(1.20	)	$	(1.08	)

__________


^(a)	For the three months ended March 31, 2019 and 2018, 1.3 million and 1.5 million non-vested stock awards, respectively, have an anti-dilutive effect and therefore are excluded from the computation of diluted weighted average shares outstanding.

Other Current Assets (Tables)

3 Months Ended

Mar. 31, 2019

Other Current Assets Disclosure [Abstract]

Schedule of Other Current Assets [Table Text Block]



	As of March 31, 2019		As of December 31, 2018
Prepaid expenses	$	257	$	241
Sales and use taxes	228		180
Other	197		183
Other current assets	$	682	$	604

Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule Of Intangible Assets

Intangible assets consisted of:



	As of March 31, 2019						As of December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized Intangible Assets
License agreements	$	306	$	177	$	129	$	305	$	168	$	137
Customer relationships	248		145		103		251		141		110
Other	51		22		29		52		21		31
Total	$	605	$	344	$	261	$	608	$	330	$	278

Unamortized Intangible Assets
Goodwill ^(a)	$	1,086					$	1,092
Trademarks	$	548					$	547

__________


^(a)	The change in the carrying amount since December 31, 2018, primarily reflects currency translation.

Vehicle Rental Activities (Tables)

3 Months Ended

Mar. 31, 2019

Vehicle Rental Activities [Abstract]

Components Of The Company's Vehicles

The components of vehicles, net within assets under vehicle programs were as follows:



	As of			As of
	March 31,			December 31,
	2019			2018
Rental vehicles	$	13,601		$	12,548
Less: Accumulated depreciation	(1,480		)	(1,670		)
	12,121			10,878
Vehicles held for sale	464			596
Vehicles, net	$	12,585		$	11,474

Components Of Vehicle Depreciation And Lease Charges

The components of vehicle depreciation and lease charges, net are summarized below:



	Three Months Ended March 31,
	2019			2018
Depreciation expense	$	436		$	460
Lease charges	57			56
(Gain) loss on sale of vehicles, net	(8		)	(1		)
Vehicle depreciation and lease charges, net	$	485		$	515

Accounts Payable and Other Current Liabilities (Tables)

3 Months Ended

Mar. 31, 2019

Accounts Payable and Other Current Liabilities [Abstract]

Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]

Accounts payable and other current liabilities consisted of:



	As of		As of
	March 31,		December 31,
	2019		2018
Short-term operating lease liabilities	$	474	$	—
Accounts payable	415		371
Accrued sales and use taxes	234		208
Accrued advertising and marketing	194		192
Deferred lease revenues – current	176		140
Public liability and property damage insurance liabilities – current	149		149
Accrued payroll and related	148		200
Other	445		433
Accounts payable and other current liabilities	$	2,235	$	1,693

Long-term Debt and Borrowing Arrangements (Tables)

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Schedule Of Long-Term Debt

Long-term corporate debt and borrowing arrangements consisted of:



		As of			As of
	Maturity Dates	March 31,			December 31,
	Maturity Dates	2019			2018
5½% Senior Notes	April 2023	$	675		$	675
6⅜% Senior Notes	April 2024	350			350
4⅛% euro-denominated Senior Notes	November 2024	337			344
Floating Rate Term Loan ^(a)	February 2025	1,120			1,123
5¼% Senior Notes	March 2025	375			375
4½% euro-denominated Senior Notes	May 2025	280			287
4¾% euro-denominated Senior Notes	January 2026	393			401
Other ^(b)		36			41
Deferred financing fees		(42		)	(45		)
Total		3,524			3,551
Less: Short-term debt and current portion of long-term debt		23			23
Long-term debt		$	3,501		$	3,528

__________

^(a)


^(b)	Primarily includes finance leases which are secured by liens on the related assets.

Schedule Of Committed Credit Facilities

At March 31, 2019, the committed corporate credit facilities available to the Company and/or its subsidiaries were as follows:



	Total Capacity		Outstanding Borrowings		Letters of Credit Issued		Available Capacity
Senior revolving credit facility maturing 2023 ^(a)	$	1,800	$	—	$	1,163	$	637

__________


^(a)	The senior revolving credit facility bears interest at one-month LIBOR plus 200 basis points and is part of the Company’s senior credit facility, which is secured by pledges of capital stock of certain subsidiaries of the Company, and liens on substantially all of the Company’s intellectual property and certain other real and personal property.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Debt Under Vehicle Programs and Borrowing Arrangements (Tables)

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Schedule Of Debt Under Vehicle Programs

Debt under vehicle programs, including related party debt due to Avis Budget Rental Car Funding (AESOP) LLC (“Avis Budget Rental Car Funding”), consisted of:



	As of			As of
	March 31,			December 31,
	2019			2018
Americas - Debt due to Avis Budget Rental Car Funding ^(a)	$	8,576		$	7,393
Americas - Debt borrowings	655			635
International - Debt borrowings	1,835			2,060
International - Finance leases	186			191
Other	1			2
Deferred financing fees ^(b)	(48		)	(49		)
Total	$	11,205		$	10,232

__________


^(a)	The increase reflects additional borrowings principally to fund increases in the Company’s car rental fleet.


^(b)	Deferred financing fees related to Debt due to Avis Budget Rental Car Funding as of March 31, 2019 and December 31, 2018 was $36 million and $35 million, respectively.

Schedule Of Contractual Maturities

The following table provides the contractual maturities of the Company’s debt under vehicle programs, including related party debt due to Avis Budget Rental Car Funding, at March 31, 2019.



	Debt under Vehicle Programs ^(a)
Within 1 year	$	1,559
Between 1 and 2 years ^(b)	4,430
Between 2 and 3 years ^(c)	2,693
Between 3 and 4 years	1,264
Between 4 and 5 years	1,078
Thereafter	229
Total	$	11,253

Schedule Of Available Funding Under The Vehicle Programs

As of March 31, 2019, available funding under the Company’s vehicle programs, including related party debt due to Avis Budget Rental Car Funding, consisted of:



	Total Capacity ^(a)		Outstanding Borrowings ^(b)		Available Capacity
Americas - Debt due to Avis Budget Rental Car Funding	$	9,236	$	8,576	$	660
Americas - Debt borrowings	926		655		271
International - Debt borrowings	2,985		1,835		1,150
International - Finance leases	207		186		21
Other	1		1		—
Total	$	13,355	$	11,253	$	2,102

__________


^(a)	Capacity is subject to maintaining sufficient assets to collateralize debt.


^(b)	The outstanding debt is collateralized by vehicles and related assets of $9.9 billion for Americas - Debt due to Avis Budget Rental Car Funding; $0.7 billion for Americas - Debt borrowings; $2.0 billion for International - Debt borrowings; and $0.2 billion for International - Finance leases.

Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Accumulated Other Comprehensive Income

The components of accumulated other comprehensive income (loss) were as follows:



		Currency Translation Adjustments			Net Unrealized Gains (Losses) on Cash Flow Hedges^(a)			Net Unrealized Gains (Losses) on Available-for Sale Securities			Minimum Pension Liability Adjustment^(b)			Accumulated Other Comprehensive Income (Loss)
Balance, December 31, 2018		$	(3	)	$	2		$	—		$	(132	)	$	(133	)
	Cumulative effect of accounting change ^(c)	—			1			—			—			1
Balance, January 1, 2019		$	(3	)	$	3		$	—		$	(132	)	$	(132	)
	Other comprehensive income (loss) before reclassifications	1			(7		)	—			1			(5		)
	Amounts reclassified from accumulated other comprehensive income (loss)	—			(1		)	—			1			—
Net current-period other comprehensive income (loss)		1			(8		)	—			2			(5		)
Balance, March 31, 2019		$	(2	)	$	(5	)	$	—		$	(130	)	$	(137	)

Balance, December 31, 2017		$	71		$	5		$	2		$	(102	)	$	(24	)
	Cumulative effect of accounting change	7			1			(2		)	(12		)	(6		)
Balance, January 1, 2018		$	78		$	6		$	—		$	(114	)	$	(30	)
	Other comprehensive income (loss) before reclassifications	1			6			—			—			7
	Amounts reclassified from accumulated other comprehensive income (loss)	—			—			—			1			1
Net current-period other comprehensive income (loss)		1			6			—			1			8
Balance, March 31, 2018		$	79		$	12		$	—		$	(113	)	$	(22	)

__________


^(a)	For the three months ended March 31, 2019, the amount reclassified from accumulated other comprehensive income (loss) into corporate interest expense was $2 million ($1 million, net of tax).


^(b)	For the three months ended March 31, 2019 and 2018, amounts reclassified from accumulated other comprehensive income (loss) into selling, general and administrative expenses were $2 million ($1 million, net of tax) and $2 million ($1 million, net of tax), respectively.


^(c)	See Note 1-Basis of Presentation for the impact of adoption of ASU 2017-12.

Components Of Other Comprehensive Income

The components of other comprehensive income (loss) were as follows:



		Three Months Ended March 31,
		2019			2018
Net loss		$	(91	)	$	(87	)
Other comprehensive income (loss):
	Currency translation adjustments (net of tax of $(6) and $5, respectively)	1			1
	Net unrealized gain (loss) on cash flow hedges (net of tax of $3 and $(2), respectively)	(8		)	6
	Minimum pension liability adjustment (net of tax of $0 and $(1), respectively)	2			1
		(5		)	8
Comprehensive loss		$	(96	)	$	(79	)

__________

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Based Compensation Activity

The Company recorded stock-based compensation expense of $5 million ($4 million, net of tax) during the three months ended March 31, 2019 and 2018.

The activity related to restricted stock units (“RSUs”) consisted of (in thousands of shares):



			Number of Shares		Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in millions)
Time-based RSUs
	Outstanding at January 1, 2019		838		$	38.67
		Granted ^(a)	422		34.82
		Vested ^(b)	(336	)	35.56
		Forfeited	(27	)	39.40
	Outstanding and expected to vest at March 31, 2019 ^(c)		897		$	38.01	1.4	$	31
Performance-based and market-based RSUs
	Outstanding at January 1, 2019		1,169		$	35.14
		Granted ^(a)	480		34.82
		Vested	—		—
		Forfeited	(413	)	24.23
	Outstanding at March 31, 2019		1,236		$	38.66	2.0	$	43
	Outstanding and expected to vest at March 31, 2019 ^(c)		487		$	39.81	2.3	$	17

__________


^(a)	Reflects the maximum number of stock units assuming achievement of all performance-, market- and time-vesting criteria and does not include those for non-employee directors. The weighted-average fair value of time-based RSUs and performance-based RSUs granted during the three months ended March 31, 2018 was $48.66 and $48.72 respectively.


^(b)	The total fair value of RSUs vested during March 31, 2019 and 2018 was $12 million and $13 million, respectively.


^(c)	Aggregate unrecognized compensation expense related to time-based RSUs and performance-based RSUs amounted to $45 million and will be recognized over a weighted average vesting period of 1.7 years.

Summary Of Share Based Compensation Shares Authorized Under Stock Option Plans By Exercise Price Range

The stock option activity consisted of (in thousands of shares):



		Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in millions)
Outstanding at January 1, 2019		57		$	0.79	0.1	$	1
	Granted	—		—			—
	Exercised ^(a)	(57	)	0.79			1
	Forfeited/expired	—		—			—
Outstanding and exercisable at March 31, 2019		—		$	—	—	$	—

Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2019

Investments, All Other Investments [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The Company held derivative instruments with absolute notional values as follows:



	As of March 31, 2019
Foreign exchange contracts	$	1,839
Interest rate caps ^(a)	8,335
Interest rate swaps	1,500

Commodity contracts (millions of gallons of unleaded gasoline)	14

__________


^(a)	Represents $5.7 billion of interest rate caps sold, partially offset by approximately $2.7 billion of interest rate caps purchased. These amounts exclude $3.0 billion of interest rate caps purchased by the Company’s Avis Budget Rental Car Funding subsidiary as it is not consolidated by the Company.

Fair Value Of Derivative Instruments

Estimated fair values (Level 2) of derivative instruments were as follows:



		As of March 31, 2019				As of December 31, 2018
		Fair Value, Derivative Assets		Fair Value, Derivative Liabilities		Fair Value, Derivative Assets		Fair Value, Derivative Liabilities
Derivatives designated as hedging instruments
	Interest rate swaps ^(a)	$	7	$	15	$	12	$	8

Derivatives not designated as hedging instruments
	Foreign exchange contracts ^(b)	16		4		5		11
	Interest rate caps ^(c)	—		—		—		2
	Commodity contracts ^(b)	3		—		—		1
	Total	$	26	$	19	$	17	$	22

__________


^(a)	Included in other non-current assets or other non-current liabilities.


^(b)	Included in other current assets or other current liabilities.


^(c)	Included in assets under vehicle programs or liabilities under vehicle programs.

Derivative Instruments, Gain (Loss) [Table Text Block]

The effects of derivatives recognized in the Company’s Consolidated Condensed Financial Statements were as follows:



		Three Months Ended March 31,
		2019			2018
Derivatives designated as hedging instruments ^(a)
	Interest rate swaps^(b)	$	(8	)	$	6
	Euro-denominated notes^(c)	16			(13		)
Derivatives not designated as hedging instruments ^(d)
	Foreign exchange contracts^(e)	1			(9		)
	Commodity contracts ^(f)	3			—
	Total	$	12		$	(16	)

__________


^(a)	Recognized, net of tax, as a component of other comprehensive income (loss) within stockholders’ equity.


^(b)	Classified as a net unrealized gain (loss) on cash flow hedges in accumulated other comprehensive income (loss). Refer to Note 13-Stockholders’ Equity for amounts reclassified from accumulated other comprehensive income into earnings.


^(c)	Classified as a net investment hedge within currency translation adjustment in accumulated other comprehensive income (loss).


^(d)	Gains (losses) related to derivative instruments are expected to be largely offset by (losses) gains on the underlying exposures being hedged.


^(e)	For the three months ended March 31, 2019, included a $4 million loss in interest expense and a $5 million gain in operating expense. For the three months ended March 31, 2018, included a $13 million loss in interest expense and a $4 million gain in operating expense.


^(f)	Included in operating expense.

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]

The carrying amounts and estimated fair values (Level 2) of debt instruments were as follows:



		As of March 31, 2019				As of December 31, 2018
		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Corporate debt
	Short-term debt and current portion of long-term debt	$	23	$	23	$	23	$	23
	Long-term debt	3,501		3,561		3,528		3,462

Debt under vehicle programs
	Vehicle-backed debt due to Avis Budget Rental Car Funding	$	8,540	$	8,607	$	7,358	$	7,383
	Vehicle-backed debt	2,663		2,677		2,871		2,881
	Interest rate swaps and interest rate caps ^(a)	2		2		3		3

__________


^(a)	Derivatives in a liability position.

Segment Information (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Summary Of Segments Information



			Three Months Ended March 31,
			2019					2018
			Revenues		Adjusted EBITDA			Revenues		Adjusted EBITDA
Americas			$	1,327	$	35		$	1,348	$	15
International			593		(21		)	620		3
Corporate and Other ^(a)			—		(15		)	—		(16		)
	Total Company		$	1,920	$	(1	)	$	1,968	$	2

Reconciliation of Adjusted EBITDA to loss before income taxes
					2019					2018
Adjusted EBITDA					$	(1	)			$	2
Less:		Non-vehicle related depreciation and amortization			67					61
		Interest expense related to corporate debt, net:
		Interest expense			42					46
		Early extinguishment of debt			—					5
		Restructuring and other related charges			21					6
		Transaction-related costs, net			5					4
		Non-operational charges related to shareholder activist activity			—					9
Loss before income taxes					$	(136	)			$	(129	)

__________


^(a)	Includes unallocated corporate overhead which is not attributable to a particular segment.

Guarantor and Non-Guarantor Consolidating Condensed Financial Statements (Tables)

3 Months Ended

Mar. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Reconciliation of cash and cash equivalents GNG (2016-18) [Table Text Block]

The following table provides a reconciliation of the cash and cash equivalents, program and restricted cash reported within the Consolidating Condensed Balance Sheets to the amounts shown in the Consolidating Condensed Statements of Cash Flows.



	As of March 31,
	2019						2018
	Subsidiary Issuers		Non-Guarantor		Total		Non-Guarantor		Total
Cash and cash equivalents	$	7	$	529	$	540	$	518	$	544
Program cash	—		131		131		147		147
Restricted cash ^(a)	1		4		5		10		10
Total cash and cash equivalents, program and restricted cash	$	8	$	664	$	676	$	675	$	701

_________


^(a)	Included within other current assets.

Consolidating Condensed Statements of Comprehensive Income

Three Months Ended March 31, 2019



			Parent			Subsidiary Issuers			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Total
Revenues			$	—		$	—		$	1,188		$	1,304		$	(572	)	$	1,920

Expenses
	Operating		—			—			614			457			—			1,071
	Vehicle depreciation and lease charges, net		—			—			529			464			(508		)	485
	Selling, general and administrative		11			2			163			108			—			284
	Vehicle interest, net		—			—			63			82			(64		)	81
	Non-vehicle related depreciation and amortization		—			—			38			29			—			67
	Interest expense related to corporate debt, net:
		Interest expense	—			34			—			8			—			42
		Intercompany interest expense (income)	(3		)	(14		)	7			10			—			—
		Early extinguishment of debt	—			—			—			—			—			—
	Restructuring and other related charges		3			—			14			4			—			21
	Transaction-related costs, net		—			—			1			4			—			5
Total expenses			11			22			1,429			1,166			(572		)	2,056
Income (loss) before income taxes and equity in earnings of subsidiaries			(11		)	(22		)	(241		)	138			—			(136		)
Provision for (benefit from) income taxes			(4		)	(8		)	(15		)	(18		)	—			(45		)
Equity in earnings (loss) of subsidiaries			(84		)	(70		)	156			—			(2		)	—
Net income (loss)			$	(91	)	$	(84	)	$	(70	)	$	156		$	(2	)	$	(91	)

Comprehensive income (loss)			$	(96	)	$	(89	)	$	(68	)	$	158		$	(1	)	$	(96	)

Three Months Ended March 31, 2018



			Parent			Subsidiary Issuers			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Total
Revenues			$	—		$	—		$	1,184		$	1,359		$	(575	)	$	1,968

Expenses
	Operating		1			4			621			466			—			1,092
	Vehicle depreciation and lease charges, net		—			—			536			504			(525		)	515
	Selling, general and administrative		18			3			155			120			—			296
	Vehicle interest, net		—			—			52			70			(50		)	72
	Non-vehicle related depreciation and amortization		—			—			36			25			—			61
	Interest expense related to corporate debt, net:
		Interest expense	—			39			1			6			—			46
		Intercompany interest expense (income)	(3		)	22			6			(25		)	—			—
		Early extinguishment of debt	—			5			—			—			—			5
	Restructuring and other related charges		—			—			3			3			—			6
	Transaction-related costs, net		—			—			—			4			—			4
Total expenses			16			73			1,410			1,173			(575		)	2,097
Income (loss) before income taxes and equity in earnings of subsidiaries			(16		)	(73		)	(226		)	186			—			(129		)
Provision for (benefit from) income taxes			(6		)	(19		)	(19		)	2			—			(42		)
Equity in earnings (loss) of subsidiaries			(77		)	(23		)	184			—			(84		)	—
Net income (loss)			$	(87	)	$	(77	)	$	(23	)	$	184		$	(84	)	$	(87	)

Comprehensive income (loss)			$	(79	)	$	(69	)	$	(21	)	$	184		$	(94	)	$	(79	)

Schedule Of Condensed Consolidating Balance Sheet Table

As of March 31, 2019



		Parent		Subsidiary Issuers		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Total
Assets
Current assets:
	Cash and cash equivalents	$	1	$	7	$	3	$	529	$	—		$	540
	Receivables, net	—		—		238		677		—			915
	Other current assets	8		130		134		410		—			682
Total current assets		9		137		375		1,616		—			2,137

Property and equipment, net		—		206		317		214		—			737
Operating lease right-of-use assets		—		722		1,148		636		—			2,506
Deferred income taxes		14		1,095		206		74		—			1,389
Goodwill		—		—		470		616		—			1,086
Other intangibles, net		—		25		475		309		—			809
Other non-current assets		48		38		28		144		—			258
Intercompany receivables		162		410		2,157		1,382		(4,111		)	—
Investment in subsidiaries		148		4,722		3,814		—		(8,684		)	—
Total assets exclusive of assets under vehicle programs		381		7,355		8,990		4,991		(12,795		)	8,922

Assets under vehicle programs:
	Program cash	—		—		—		131		—			131
	Vehicles, net	—		60		52		12,473		—			12,585
	Receivables from vehicle manufacturers and other	—		1		82		544		—			627
	Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		637		—			637
		—		61		134		13,785		—			13,980
Total assets		$	381	$	7,416	$	9,124	$	18,776	$	(12,795	)	$	22,902

Liabilities and stockholders’ equity
Current liabilities:
	Accounts payable and other current liabilities	$	16	$	308	$	850	$	1,061	$	—		$	2,235
	Short-term debt and current portion of long-term debt	—		18		2		3		—			23
Total current liabilities		16		326		852		1,064		—			2,258

Long-term debt		—		2,498		3		1,000		—			3,501
Long-term operating lease liabilities		—		629		960		457		—			2,046
Other non-current liabilities		41		90		242		366		—			739
Intercompany payables		—		3,700		410		1		(4,111		)	—
Total liabilities exclusive of liabilities under vehicle programs		57		7,243		2,467		2,888		(4,111		)	8,544

Liabilities under vehicle programs:
	Debt	—		25		47		2,593		—			2,665
	Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		8,540		—			8,540
Deferred income taxes		—		—		1,802		193		—			1,995
Other		—		—		86		748		—			834
		—		25		1,935		12,074		—			14,034
Total stockholders’ equity		324		148		4,722		3,814		(8,684		)	324
Total liabilities and stockholders’ equity		$	381	$	7,416	$	9,124	$	18,776	$	(12,795	)	$	22,902

As of December 31, 2018



		Parent		Subsidiary Issuers		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Total
Assets
Current assets:
	Cash and cash equivalents	$	1	$	12	$	1	$	601	$	—		$	615
	Receivables, net	—		—		239		716		—			955
	Other current assets	5		112		116		371		—			604
Total current assets		6		124		356		1,688		—			2,174

Property and equipment, net		—		199		319		218		—			736
Deferred income taxes		13		1,015		207		66		—			1,301
Goodwill		—		—		471		621		—			1,092
Other intangibles, net		—		26		475		324		—			825
Other non-current assets		47		39		16		140		—			242
Intercompany receivables		159		404		2,104		1,262		(3,929		)	—
Investment in subsidiaries		246		4,786		3,852		—		(8,884		)	—
Total assets exclusive of assets under vehicle programs		471		6,593		7,800		4,319		(12,813		)	6,370

Assets under vehicle programs:
	Program cash	—		—		—		115		—			115
	Vehicles, net	—		55		54		11,365		—			11,474
	Receivables from vehicle manufacturers and other	—		2		—		629		—			631
	Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		559		—			559
		—		57		54		12,668		—			12,779
Total assets		$	471	$	6,650	$	7,854	$	16,987	$	(12,813	)	$	19,149

Liabilities and stockholders’ equity
Current liabilities:
	Accounts payable and other current liabilities	$	16	$	246	$	582	$	849	$	—		$	1,693
	Short-term debt and current portion of long-term debt	—		18		3		2		—			23
Total current liabilities		16		264		585		851		—			1,716

Long-term debt		—		2,501		3		1,024		—			3,528
Other non-current liabilities		41		87		257		382		—			767
Intercompany payables		—		3,524		404		1		(3,929		)	—
Total liabilities exclusive of liabilities under vehicle programs		57		6,376		1,249		2,258		(3,929		)	6,011

Liabilities under vehicle programs:
	Debt	—		28		49		2,797		—			2,874
	Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		7,358		—			7,358
	Deferred income taxes	—		—		1,770		191		—			1,961
	Other	—		—		—		531		—			531
		—		28		1,819		10,877		—			12,724
Total stockholders’ equity		414		246		4,786		3,852		(8,884		)	414
Total liabilities and stockholders’ equity		$	471	$	6,650	$	7,854	$	16,987	$	(12,813	)	$	19,149

Consolidating Condensed Statements Of Cash Flows

Three Months Ended March 31, 2019



	Parent			Subsidiary Issuers			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Total
Net cash provided by (used in) operating activities	$	4		$	5		$	34		$	397		$	—	$	440

Investing activities
Property and equipment additions	—			(16		)	(25		)	(16		)	—		(57		)
Proceeds received on asset sales	—			—			—			2			—		2
Net assets acquired (net of cash acquired)	—			—			(4		)	(1		)	—		(5		)
Other, net	—			—			—			(3		)	—		(3		)
Net cash provided by (used in) investing activities exclusive of vehicle programs	—			(16		)	(29		)	(18		)	—		(63		)

Vehicle programs:
Investment in vehicles	—			(1		)	—			(4,375		)	—		(4,376		)
Proceeds received on disposition of vehicles	—			13			—			3,070			—		3,083
Investment in debt securities of Avis Budget Rental Car Funding (AESOP) LLC—related party	—			—			—			(78		)	—		(78		)
	—			12			—			(1,383		)	—		(1,371		)
Net cash provided by (used in) investing activities	—			(4		)	(29		)	(1,401		)	—		(1,434		)

Financing activities
Payments on long-term borrowings	—			(4		)	—			(1		)	—		(5		)
Repurchases of common stock	(4		)	—			—			—			—		(4		)
Net cash provided by (used in) financing activities exclusive of vehicle programs	(4		)	(4		)	—			(1		)	—		(9		)

Vehicle programs:
Proceeds from borrowings	—			—			—			5,989			—		5,989
Payments on borrowings	—			(1		)	(3		)	(5,034		)	—		(5,038		)
Debt financing fees	—			—			—			(5		)	—		(5		)
	—			(1		)	(3		)	950			—		946
Net cash provided by (used in) financing activities	(4		)	(5		)	(3		)	949			—		937

Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash	—			—			—			(2		)	—		(2		)

Net increase (decrease) in cash and cash equivalents, program and restricted cash	—			(4		)	2			(57		)	—		(59		)
Cash and cash equivalents, program and restricted cash, beginning of period	1			12			1			721			—		735
Cash and cash equivalents, program and restricted cash, end of period	$	1		$	8		$	3		$	664		$	—	$	676

Three Months Ended March 31, 2018



	Parent			Subsidiary Issuers			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
Net cash provided by (used-in) operating activities	$	12		$	41		$	30		$	427		$	(7	)	$	503

Investing activities
Property and equipment additions	—			(15		)	(23		)	(19		)	—			(57		)
Proceeds received on asset sales	—			2			—			2			—			4
Net assets acquired (net of cash acquired)	—			(3		)	(3		)	(4		)	—			(10		)
Other, net	—			—			—			(19		)	—			(19		)
Net cash provided by (used in) investing activities exclusive of vehicle programs	—			(16		)	(26		)	(40		)	—			(82		)

Vehicle programs:
Investment in vehicles	—			—			(1		)	(4,225		)	—			(4,226		)
Proceeds received on disposition of vehicles	—			7			—			2,565			—			2,572
	—			7			(1		)	(1,660		)	—			(1,654		)
Net cash provided by (used in) investing activities	—			(9		)	(27		)	(1,700		)	—			(1,736		)

Financing activities
Proceeds from long-term borrowings	—			81			—			—			—			81
Payments on long-term borrowings	—			(88		)	(1		)	—			—			(89		)
Net change in short-term borrowings	—			—			—			(1		)	—			(1		)
Repurchases of common stock	(14		)	—			—			—			—			(14		)
Debt financing fees	—			(8		)	—			—			—			(8		)
Other, net	1			(7		)	—			—			7			1
Net cash provided by (used in) financing activities exclusive of vehicle programs	(13		)	(22		)	(1		)	(1		)	7			(30		)

Vehicle programs:
Proceeds from borrowings	—			—			—			5,100			—			5,100
Payments on borrowings	—			(1		)	(2		)	(4,042		)	—			(4,045		)
Debt financing fees	—			—			—			(1		)	—			(1		)
	—			(1		)	(2		)	1,057			—			1,054
Net cash provided by (used in) financing activities	(13		)	(23		)	(3		)	1,056			7			1,024

Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash	—			—			—			9			—			9

Net increase (decrease) in cash and cash equivalents, program and restricted cash	(1		)	9			—			(208		)	—			(200		)
Cash and cash equivalents, program and restricted cash, beginning of period	4			14			—			883			—			901
Cash and cash equivalents, program and restricted cash, end of period	$	3		$	23		$	—		$	675		$	—		$	701

Basis of Presentation Basis of Presentation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Jun. 01, 2018	Mar. 01, 2018	Dec. 31, 2017
Basis of Presentation [Abstract]
Document Fiscal Year Focus	2019
Cash and Cash Equivalents, at Carrying Value	$ 540	$ 544	$ 615
Program cash	131	147	115
Restricted Cash and Cash Equivalents	5	10
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	676	701	735			$ 901
Net Unrealized Gain Or Loss Of Foreign Currency Transactions On Intercompany Loan Hedges	5	$ 1
Assets Held-for-sale, Not Part of Disposal Group	24		25
Equity Method Investments	0		0	$ 19	$ 20
Equity Securities without Readily Determinable Fair Value, Amount	20		8
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Cumulative Amount	12
Other related Revenue	30
Adjustments related to New Accounting Pronouncements [Line Items]
Operating Lease, Right-of-Use Asset	2,506		0
Accounting Standards Update 2016-02 [Member]
Adjustments related to New Accounting Pronouncements [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption			5
Property leases [Member]
Adjustments related to New Accounting Pronouncements [Line Items]
Operating Lease, Right-of-Use Asset	2,506
Property leases [Member] \| Accounting Standards Update 2016-02 [Member]
Adjustments related to New Accounting Pronouncements [Line Items]
Operating Lease, Right-of-Use Asset			2,811
Vehicle leases [Member]
Adjustments related to New Accounting Pronouncements [Line Items]
Operating Lease, Right-of-Use Asset	$ 147
Vehicle leases [Member] \| Accounting Standards Update 2016-02 [Member]
Adjustments related to New Accounting Pronouncements [Line Items]
Operating Lease, Right-of-Use Asset			$ 183

Basis of Presentation Disaggregated Revenue in Basis of Presentation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 1,920	$ 1,968
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,327	1,348
EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues	433	447
Asia and Australasia [Member]
Disaggregation of Revenue [Line Items]
Revenues	160	173
Avis [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,100	1,145
Budget [Member]
Disaggregation of Revenue [Line Items]
Revenues	651	642
Other Brands [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 169	$ 181

Basis of Presentation Deferred Revenue Rollforward in Basis of Presentation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Deferred Revenue Rollforward [Line Items]
Document Period End Date	Mar. 31, 2019
Deferred Revenue	$ 63	$ 72	$ 64	$ 69
Deferred Revenue, Additions	5	7
Deferred Revenue, Revenue Recognized	(6)	(4)
Accounts Payable and Accrued Liabilities [Member]
Deferred Revenue Rollforward [Line Items]
Deferred Revenue	18	18
Other Noncurrent Liabilities [Member]
Deferred Revenue Rollforward [Line Items]
Deferred Revenue	$ 45	54
Prepaid Rentals and Membership Fees [Member]
Deferred Revenue Rollforward [Line Items]
Deferred Revenue		178		$ 125
Deferred Revenue, Additions		412
Deferred Revenue, Revenue Recognized		(359)
Prepaid Rentals and Membership Fees [Member] \| Accounts Payable and Accrued Liabilities [Member]
Deferred Revenue Rollforward [Line Items]
Deferred Revenue		176
Prepaid Rentals and Membership Fees [Member] \| Other Noncurrent Liabilities [Member]
Deferred Revenue Rollforward [Line Items]
Deferred Revenue		$ 2

Leases Lessor (Details) $ in Millions	3 Months Ended
Leases Lessor (Details) $ in Millions	Mar. 31, 2019 USD ($)
Lessor, Lease, Description [Line Items]
Operating Lease, Lease Income	$ 1,890
Americas [Member]
Lessor, Lease, Description [Line Items]
Operating Lease, Lease Income	1,319
EMEA [Member]
Lessor, Lease, Description [Line Items]
Operating Lease, Lease Income	414
Asia and Australasia [Member]
Lessor, Lease, Description [Line Items]
Operating Lease, Lease Income	157
Avis [Member]
Lessor, Lease, Description [Line Items]
Operating Lease, Lease Income	1,083
Budget [Member]
Lessor, Lease, Description [Line Items]
Operating Lease, Lease Income	640
Other Brands [Member]
Lessor, Lease, Description [Line Items]
Operating Lease, Lease Income	$ 167

Leases Lessee (Details) - USD ($) $ in Millions	3 Months Ended
Leases Lessee (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Operating Lease, Residual Value of Leased Asset	$ 292
Operating lease right-of-use assets	2,506	$ 0
Operating Lease, Liability, Current	474
Long-term operating lease liabilities	2,046	0
Operating Leases, Future Minimum Payments Due, Next Twelve Months		835
Operating Leases, Future Minimum Payments, Due in Two Years		476
Operating Leases, Future Minimum Payments, Due in Three Years		345
Operating Leases, Future Minimum Payments, Due in Four Years		253
Operating Leases, Future Minimum Payments, Due in Five Years		162
Operating Leases, Future Minimum Payments, Due Thereafter		590
Operating Leases, Future Minimum Payments Due		$ 2,661
Property leases [Member]
Lessee, Lease, Description [Line Items]
Operating Lease, Cost	177
Variable Lease, Cost	51
Lease, Cost	228
Operating lease right-of-use assets	2,506
Long-term operating lease liabilities	2,046
Operating Lease, Liability	$ 2,520
Operating Lease, Weighted Average Remaining Lease Term	9 years 6 months
Operating Lease, Weighted Average Discount Rate, Percent	4.58%
Operating Lease, Payments	$ 189
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	(113)
Lessee, Operating Lease, Liability, Payments, Due Next Rolling Twelve Months	615
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Two	404
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Three	359
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Four	304
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Five	252
Lessee, Operating Lease, Liability, Payments, Due after Rolling Year Five	1,220
Lessee, Operating Lease, Liability, Payments, Due	3,154
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(634)
Vehicle leases [Member]
Lessee, Lease, Description [Line Items]
Lease, Cost	69
Finance Lease, Right-of-Use Asset, Amortization	11
Finance Lease, Interest Expense	1
Operating lease right-of-use assets	147
Operating Lease, Liability, Current	82
Long-term operating lease liabilities	65
Operating Lease, Liability	$ 147
Operating Lease, Weighted Average Remaining Lease Term	2 years 10 months
Operating Lease, Weighted Average Discount Rate, Percent	3.09%
Finance Lease, Right-of-Use Asset, Gross	$ 282
Finance Lease, Right-of-Use Asset, Accumulated Amortization	(50)
Finance Lease, Right-of-Use Asset	232
Finance Lease, Liability, Current	82
Finance Lease, Liability, Noncurrent	117
Finance Lease, Liability	$ 199
Finance Lease, Weighted Average Remaining Lease Term	1 year 10 months
Finance Lease, Weighted Average Discount Rate, Percent	1.40%
Operating Lease, Payments	$ 27
Finance Lease, Interest Payment on Liability	1
Finance Lease, Principal Payments	38
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	(8)
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	35
Lessee, Operating Lease, Liability, Payments, Due Next Rolling Twelve Months	87
Finance Lease, Liability, Payments, Due in Next Rolling Twelve Months	82
Finance Lease, Liability, Payments, Due in Rolling Year Two	12
Finance Lease, Liability, Payments, Due in Rolling Year Three	100
Finance Lease, Liability, Payments, Due in Rolling Year Four	5
Finance Lease, Liability, Payments, Due in Rolling Year Five	0
Finance Lease, Liability, Payments, Due in Rolling after Year Five	0
Finance Lease, Liability, Payments, Due	199
Finance Lease, Liability, Undiscounted Excess Amount	0
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Two	43
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Three	16
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Four	6
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Five	0
Lessee, Operating Lease, Liability, Payments, Due after Rolling Year Five	0
Lessee, Operating Lease, Liability, Payments, Due	152
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(5)
Property, Plant and Equipment, Other Types [Member]
Lessee, Lease, Description [Line Items]
Finance Lease, Right-of-Use Asset, Gross	25
Finance Lease, Right-of-Use Asset, Accumulated Amortization	(2)
Finance Lease, Right-of-Use Asset	23
Finance Lease, Liability, Current	8
Finance Lease, Liability, Noncurrent	15
Finance Lease, Liability	$ 23
Finance Lease, Weighted Average Remaining Lease Term	4 years
Finance Lease, Weighted Average Discount Rate, Percent	5.86%
Finance Lease, Liability, Payments, Due in Next Rolling Twelve Months	$ 9
Finance Lease, Liability, Payments, Due in Rolling Year Two	6
Finance Lease, Liability, Payments, Due in Rolling Year Three	3
Finance Lease, Liability, Payments, Due in Rolling Year Four	3
Finance Lease, Liability, Payments, Due in Rolling Year Five	2
Finance Lease, Liability, Payments, Due in Rolling after Year Five	3
Finance Lease, Liability, Payments, Due	26
Finance Lease, Liability, Undiscounted Excess Amount	$ (3)

Restructuring (Narrative) (Detail) - T19 Restructuring [Member] $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($) Employee
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Number of Positions Eliminated	160
Restructuring and Related Cost, Number of Positions Eliminated	130
Restructuring and Related Cost, Expected Cost Remaining \| $	$ 40

Restructuring (Summary Of Changes To Restructuring-Related Liabilities) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Restructuring Reserve [Roll Forward]
Balance as of January 1, 2016	$ 2
Restructuring expense	(21)	$ (6)
Balance as of March 31, 2019	3
Americas
Restructuring Reserve [Roll Forward]
Balance as of January 1, 2016	0
Balance as of March 31, 2019	0
International [Member]
Restructuring Reserve [Roll Forward]
Balance as of January 1, 2016	2
Balance as of March 31, 2019	3
Workforce Restructuring [Member]
Restructuring Reserve [Roll Forward]
Payment for Restructuring	(1)
Workforce Restructuring [Member] \| Americas
Restructuring Reserve [Roll Forward]
Payment for Restructuring	0
Workforce Restructuring [Member] \| International [Member]
Restructuring Reserve [Roll Forward]
Payment for Restructuring	(1)
T19 Restructuring [Member]
Restructuring Reserve [Roll Forward]
Restructuring expense	(18)
Payment for Restructuring	(16)
T19 Restructuring [Member] \| Americas
Restructuring Reserve [Roll Forward]
Restructuring expense	(14)
Payment for Restructuring	(14)
T19 Restructuring [Member] \| International [Member]
Restructuring Reserve [Roll Forward]
Restructuring expense	(4)
Payment for Restructuring	(2)
Personnel Related
Restructuring Reserve [Roll Forward]
Balance as of January 1, 2016	1
Balance as of March 31, 2019	1
Personnel Related \| Workforce Restructuring [Member]
Restructuring Reserve [Roll Forward]
Payment for Restructuring	(1)
Personnel Related \| T19 Restructuring [Member]
Restructuring Reserve [Roll Forward]
Restructuring expense	(8)
Payment for Restructuring	(7)
Other Restructuring [Member]
Restructuring Reserve [Roll Forward]
Balance as of January 1, 2016	1
Balance as of March 31, 2019	2
Other Restructuring [Member] \| Workforce Restructuring [Member]
Restructuring Reserve [Roll Forward]
Payment for Restructuring	0
Other Restructuring [Member] \| T19 Restructuring [Member]
Restructuring Reserve [Roll Forward]
Restructuring expense	(10)
Payment for Restructuring	$ (9)

Restructuring Other Related Charges (Details) $ in Millions	3 Months Ended
Restructuring Other Related Charges (Details) $ in Millions	Mar. 31, 2019 USD ($)
Other Related Charges [Abstract]
Other Nonrecurring Expense	$ 3

Earnings Per Share (Computation Of Basic And Diluted Earnings Per Share) (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Net loss	$ (91)	$ (87)
Basic and diluted weighted average shares outstanding (a)	75.8	81.0
Basic	$ (1.20)	$ (1.08)
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1.3	1.5

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1337-109256

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=109256448&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1252-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=114873765&loc=SL114874048-224260

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109260490&loc=SL5780133-109256

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Earnings Per Share Earnings Per Share (Details) - $ / shares shares in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Document Period End Date	Mar. 31, 2019
Basic and diluted weighted average shares outstanding (a)	75.8	81.0
Basic	$ (1.20)	$ (1.08)
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		0.1
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1.3	1.5

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

Other Current Assets (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Other Current Assets Disclosure [Abstract]
Prepaid expenses	$ 228	$ 180
Sales and use taxes	257	241
Other	197	183
Other current assets	$ 682	$ 604

Intangible Assets (Schedule Of Intangible Assets) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Finite And Indefinite Lived Intangible Assets [Line Items]
Document Fiscal Year Focus	2019
Amortized Intangible Assets, Gross Carrying Amount	$ 605	$ 608
Amortized Intangible Assets, Accumulated Amortization	344	330
Amortized Intangible Assets, Net Carrying Amount	261	278
Unamortized Intangible Assets, Goodwill, Gross Carrying Amount	1,086	1,092
License agreements
Finite And Indefinite Lived Intangible Assets [Line Items]
Amortized Intangible Assets, Gross Carrying Amount	306	305
Amortized Intangible Assets, Accumulated Amortization	177	168
Amortized Intangible Assets, Net Carrying Amount	129	137
Customer relationships
Finite And Indefinite Lived Intangible Assets [Line Items]
Amortized Intangible Assets, Gross Carrying Amount	248	251
Amortized Intangible Assets, Accumulated Amortization	145	141
Amortized Intangible Assets, Net Carrying Amount	103	110
Other
Finite And Indefinite Lived Intangible Assets [Line Items]
Amortized Intangible Assets, Gross Carrying Amount	51	52
Amortized Intangible Assets, Accumulated Amortization	22	21
Amortized Intangible Assets, Net Carrying Amount	29	31
Goodwill (a)
Finite And Indefinite Lived Intangible Assets [Line Items]
Unamortized Intangible Assets, Goodwill, Gross Carrying Amount	1,086	1,092
Trademarks
Finite And Indefinite Lived Intangible Assets [Line Items]
Unamortized Intangible Assets, Trademarks, Gross Carrying Amount	$ 548	$ 547

Intangible Assets (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Amortization expense relating to all intangible assets	$ 17	$ 14
Amortization expense for remainder of the year	$ 41
Document Fiscal Year Focus	2019
Intangible assets amortization expense, year one	$ 48
Intangible assets amortization expense, year two	34
Intangible assets amortization expense, year three	25
Intangible assets amortization expense, year four	22
Intangible assets amortization expense, year five	$ 20

Vehicle Rental Activities (Components Of The Company's Vehicles) (Detail) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018
Vehicle Rental Activities [Abstract]
Rental vehicles	$ 13,601	$ 12,548
Less: Accumulated depreciation	(1,480)	(1,670)
Rental Vehicles Net, Total	12,121	10,878
Vehicles held for sale	464	596
Vehicles, net	12,585	$ 11,474
Accounts Payable, Other, Current	632		$ 641
Other Receivables	$ 474		$ 329

Vehicle Rental Activities (Components Of Vehicle Depreciation And Lease Charges) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Vehicle Rental Activities [Abstract]
Depreciation expense	$ 436	$ 460
Lease charges	57	56
(Gain) loss on sale of vehicles, net	(8)	(1)
Vehicle depreciation and lease charges, net	$ 485	$ 515

Income Taxes Income Taxes (Narrative) (Details)	3 Months Ended
Income Taxes Income Taxes (Narrative) (Details)	Mar. 31, 2019	Mar. 31, 2018
Income Taxes [Abstract]
Effective Income Tax Rate Reconciliation, Percent	33.10%	32.60%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%

Accounts Payable and Other Current Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Accounts Payable and Other Current Liabilities [Abstract]
Short-term Lease Commitment, Amount	$ 474	$ 0
Short-term operating lease liabilities	415	371
Accounts payable	234	208
Accrued marketing and commissions, current	194	192
Employee-related Liabilities, Current	148	200
Deferred Revenue, Current	176	140
Public liability and property damage insurance liabilities, current	149	149
Other	445	433
Accounts payable and other current liabilities	$ 2,235	$ 1,693

Long-Term Debt And Borrowing Arrangements (Schedule Of Long-Term Debt) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Document Fiscal Year Focus	2019
Other	$ 36	$ 41
Short-term debt and current portion of long-term debt	23	23
Long-term debt	$ 3,501	3,528
Five And One Over Two Senior Notes [Member] \| Long Term Borrowings [Member]
Debt Instrument [Line Items]
Debt instrument stated interest percentage	5.50%
Six And Three Over Eight Senior Notes [Member] \| Long Term Borrowings [Member]
Debt Instrument [Line Items]
Debt instrument stated interest percentage	6.375%
Four and One over Eight Euro-Denominated Senior Notes [Member] \| Long Term Borrowings [Member]
Debt Instrument [Line Items]
Debt instrument stated interest percentage	4.125%
Five And One Over Four Senior Notes [Member] \| Long Term Borrowings [Member]
Debt Instrument [Line Items]
Debt instrument stated interest percentage	5.25%
Four and One over Two Euro-Denominated Senior Notes [Member] \| Long Term Borrowings [Member]
Debt Instrument [Line Items]
Debt instrument stated interest percentage	4.50%
Four and three over four Euro-Denominated Senior Notes [Member] \| Long Term Borrowings [Member]
Debt Instrument [Line Items]
Debt instrument stated interest percentage	4.75%
Senior Notes [Member] \| Five And One Over Two Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt	$ 675	675
Debt Instrument, Maturity Date, Description	April 2023
Senior Notes [Member] \| Six And Three Over Eight Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt	$ 350	350
Debt Instrument, Maturity Date, Description	April 2024
Senior Notes [Member] \| Four and One over Eight Euro-Denominated Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt	$ 337	344
Debt Instrument, Maturity Date, Description	November 2024
Senior Notes [Member] \| Five And One Over Four Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt	$ 375	375
Debt Instrument, Maturity Date, Description	March 2025
Senior Notes [Member] \| Four and One over Two Euro-Denominated Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt	$ 280	287
Debt Instrument, Maturity Date, Description	May 2025
Senior Notes [Member] \| Four and three over four Euro-Denominated Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt	$ 393	401
Debt Instrument, Maturity Date, Description	January 2026
Loans Payable [Member] \| Floating Rate Term Loan Due February Two Thousand Twenty Five [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.67%
Long-term debt	$ 1,120	1,123
Debt Instrument, Maturity Date, Description	February 2025
Debt Instrument, Description of Variable Rate Basis	200 basis points
Percentage Of Margin Aggregate Interest Rate	4.50%
Senior Notes and Loans Payable [Member]
Debt Instrument [Line Items]
Deferred Finance Costs, Net	$ (42)	(45)
Long-term Debt	$ 3,524	$ 3,551

Long-Term Debt And Borrowing Arrangements (Schedule Of Long-Term Debt) (Detail Section)	3 Months Ended
	Mar. 31, 2019 USD ($)
Floating Rate Term Loan Due March Two Thousand Nineteen [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis	200 basis points
Long Term Borrowings [Member] \| Five And One Over Four Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.25%
Long Term Borrowings [Member] \| Five And One Over Two Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.50%
Long Term Borrowings [Member] \| Six And Three Over Eight Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.375%
Loans Payable [Member] \| Floating Rate Term Loan Due February Two Thousand Twenty Five [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis	200 basis points
Percentage Of Margin Aggregate Interest Rate	4.50%
Debt Instrument, Basis Spread on Variable Rate	3.67%
Derivative, Amount of Hedged Item	$ 700,000,000
Bank Overdraft [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period	3.22%

Long-Term Debt And Borrowing Arrangements (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Document Period End Date	Mar. 31, 2019
Other Long-term Debt	$ 36	$ 41
Uncommitted Credit Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period	0.73%
Uncommitted Credit Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period	1.53%
Four and One over Two Euro-Denominated Senior Notes [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date, Description	May 2025
Long-term Debt, Gross	$ 280	287
Six And Three Over Eight Senior Notes [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date, Description	April 2024
Long-term Debt, Gross	$ 350	350
Five And One Over Two Senior Notes [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date, Description	April 2023
Long-term Debt, Gross	$ 675	675
Four and One over Eight Euro-Denominated Senior Notes [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date, Description	November 2024
Long-term Debt, Gross	$ 337	$ 344

Long-Term Debt And Borrowing Arrangements (Schedule Of Committed Credit Facilities) (Detail) - Revolving Credit Facility Maturing Two Thousand Sixteen [Member] $ in Millions	Mar. 31, 2019 USD ($)
Line of Credit Facility [Line Items]
Total Capacity	$ 1,800
Outstanding Borrowings	0
Letters of Credit Issued	1,163
Available Capacity	$ 637

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Long-Term Debt And Borrowing Arrangements (Schedule Of Committed Credit Facilities) (Detail Section) $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($)
Line of Credit Facility [Line Items]
Amounts drawn under uncommitted credit facilities	$ 1
Bank Overdraft [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate During Period	3.22%
Minimum [Member] \| Uncommitted Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate During Period	0.73%
Maximum [Member] \| Uncommitted Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate During Period	1.53%

Debt Under Vehicle Programs And Borrowing Arrangements (Schedule Of Debt Under Vehicle Programs) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]
Document Period End Date	Mar. 31, 2019
Debt under vehicle programs	$ 11,205	$ 10,232
Debt Due To Avis Budget Rental Car Funding (Member)
Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]
Leasing Vehicles And Related Assets Pledged As Collateralized Debt	9,900
Debt under vehicle programs	8,576	7,393
Deferred Finance Costs, Net	(36)	(35)
Americas Debt Borrowings [Member]
Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]
Leasing Vehicles And Related Assets Pledged As Collateralized Debt	700
Debt under vehicle programs	655	635
International Debt Borrowings [Domain]
Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]
Leasing Vehicles And Related Assets Pledged As Collateralized Debt	2,000
Debt under vehicle programs	1,835	2,060
International Capital Leases [Domain]
Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]
Leasing Vehicles And Related Assets Pledged As Collateralized Debt	200
Debt under vehicle programs	186	191
Other (Member)
Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]
Debt under vehicle programs	1	2
Debt Under Vehicle Programs [Member]
Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]
Deferred Finance Costs, Net	$ (48)	$ (49)

Debt Under Vehicle Programs And Borrowing Arrangements (Schedule Of Contractual Maturities) (Detail) $ in Millions	Mar. 31, 2019 USD ($)
Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]
Vehicle Program Debt Amount Outstanding	$ 11,253
Vehicle backed debt [Member]
Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]
Within 1 year	1,559
Between 1 and 2 years (b)	4,430
Between 2 and 3 years (c)	2,693
Between 3 and 4 years	1,264
Between 4 and 5 years	1,078
Thereafter	229
Vehicle Program Debt Amount Outstanding	$ 11,253

Debt Under Vehicle Programs And Borrowing Arrangements (Schedule Of Available Funding Under The Vehicle Programs) (Detail) $ in Millions	Mar. 31, 2019 USD ($)
Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]
Total Capacity (a)	$ 13,355
Outstanding Borrowings (b)	11,253
Available Capacity	2,102
Debt Due To Avis Budget Rental Car Funding (Member)
Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]
Total Capacity (a)	9,236
Outstanding Borrowings (b)	8,576
Available Capacity	660
Leasing Vehicles And Related Assets Pledged As Collateralized Debt	9,900
Americas Debt Borrowings [Member]
Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]
Total Capacity (a)	926
Outstanding Borrowings (b)	655
Available Capacity	271
Leasing Vehicles And Related Assets Pledged As Collateralized Debt	700
International Debt Borrowings [Domain]
Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]
Total Capacity (a)	2,985
Outstanding Borrowings (b)	1,835
Available Capacity	1,150
Leasing Vehicles And Related Assets Pledged As Collateralized Debt	2,000
International Capital Leases [Domain]
Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]
Total Capacity (a)	207
Outstanding Borrowings (b)	186
Available Capacity	21
Leasing Vehicles And Related Assets Pledged As Collateralized Debt	200
Other (Member)
Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]
Total Capacity (a)	1
Outstanding Borrowings (b)	1
Available Capacity	$ 0

Commitments And Contingencies (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Schedule Of Commitments And Contingencies [Line Items]
Loss Contingency Accrual	$ 12
Loss Contingency, Range of Possible Loss, Portion Not Accrued	$ 45
Document Period End Date	Mar. 31, 2019
Purchase obligation over the next twelve months	$ 6,000
Other Receivables	474	$ 329
Realogy [Member]
Schedule Of Commitments And Contingencies [Line Items]
Other Receivables	29
Wyndham [Member]
Schedule Of Commitments And Contingencies [Line Items]
Other Receivables	$ 18

Stockholders' Equity (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Stockholders Equity [Line Items]
Currency translation adjustments (net of tax of $(6) and $5, respectively)	$ 1	$ 1
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Other Comprehensive Income Unrealized Gain Loss On Cash Flow Hedges Arising During Period Net Of Tax	$ (7)	6
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	(1)	0
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	(8)	$ 6
Stock Repurchase Program, Authorized Amount	1,700
Stock Repurchase Program, Remaining Authorized Repurchase Amount	150
Selling, General and Administrative Expenses [Member]
Stockholders Equity [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax	2
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	$ 1

Stockholders' Equity (Accumulated Other Comprehensive Income) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Stockholders Equity [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets			$ (5)	$ 41
Document Period End Date	Mar. 31, 2019
Currency Translation Adjustments, Balance	$ (3)	$ 71
Net Unrealized Gains (Losses) on Cash Flow Hedges, Balance	(5)	12
Net Unrealized Gains on Available- For-Sale Securities, Balance	0	2
Currency Translation Adjustments, Balance	(132)	(102)
Accumulated Other Comprehensive Income, Balance	(133)	(24)
Currency Translation Adjustments, Current period change	1	1
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	(8)	6
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	(2)	(1)
Other comprehensive income (loss)	(5)	8
Currency Translation Adjustments, Balance	(2)	79
Net Unrealized Gains (Losses) on Cash Flow Hedges, Balance	2	5
Net Unrealized Gains on Available- For-Sale Securities, Balance	0	0
Currency Translation Adjustments, Balance	(130)	(113)
Accumulated Other Comprehensive Income, Balance	(137)	(22)
Derivatives used in Net Investment Hedge, Net of Tax	80
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent	1	1
Other Comprehensive Income Unrealized Gain Loss On Cash Flow Hedges Arising During Period Net Of Tax	(7)	6
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	(8)	6
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax	0	0
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net (Gain) Loss, Net of Tax	1	1
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(5)	7
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	1
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	0	0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	1	0
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, before Reclassification Adjustments, after Tax	0	0
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax	1	0
Corporate Interest Expense [Member]
Stockholders Equity [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	2
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	(1)
Selling, General and Administrative Expenses [Member]
Stockholders Equity [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax	2
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	1
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Stockholders Equity [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets				(7)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Stockholders Equity [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets			(1)	(1)
AOCI Attributable to Parent [Member]
Stockholders Equity [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets			$ (1)	6
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Stockholders Equity [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets				2
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Stockholders Equity [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets				$ 12
Adjustments for New Accounting Pronouncement [Member]
Stockholders Equity [Line Items]
Currency Translation Adjustments, Balance	(3)	78
Net Unrealized Gains on Available- For-Sale Securities, Balance	0	0
Currency Translation Adjustments, Balance	(132)	(114)
Accumulated Other Comprehensive Income, Balance	(132)	(30)
Net Unrealized Gains (Losses) on Cash Flow Hedges, Balance	$ 3	$ 6

Stockholders' Equity (Components Of Other Comprehensive Income) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Equity [Abstract]
Net loss	$ (91)	$ (87)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Document Fiscal Year Focus	2019
Currency translation adjustments (net of tax of $(6) and $5, respectively)	$ 1	1
Net unrealized gain (loss) on available-for-sale securities (net of tax of $0 and $0, respectively)	0	0
Net unrealized gain (loss) on cash flow hedges (net of tax of $3 and $(2), respectively)	(8)	6
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	2	1
Other comprehensive income (loss)	(5)	8
Total comprehensive income (loss)	$ (96)	(79)
Document Period End Date	Mar. 31, 2019
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	$ (1)	0
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	(6)	5
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax	3	(2)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax	0	$ (1)
Corporate Interest Expense [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	2
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	1
Selling, General and Administrative Expenses [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax	2
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	$ 1

Stock-Based Compensation (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 5	$ 5
Stock-based compensation expense (net of tax)	$ 4	$ 4
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019

Stock-Based Compensation (Stock Based Compensation Activity) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Document Period End Date	Mar. 31, 2019
Number of Options, Balance	0
Stock Issued During Period, Value, Restricted Stock Award, Gross	$ 12	$ 13
Options outstanding, intrinsic value	0		$ 1
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 45
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term		1 month
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expected to Vest, Weighted Average Remaining Contractual Term	1 year 8 months
Performance-Based and Market-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms	2 years
Weighted Average Grant Price, Balance	$ 35.14
Weighted Average Grant Price, Granted at fair market value	34.82
Weighted Average Grant Price, Vested/exercised	0.00
Weighted Average Grant Price, Canceled	24.23
Weighted Average Grant Price, Balance	$ 38.66
Number of RSUs, Balance	1,169
Number of RSUs, Granted at fair market value	480
Number of RSUs, Vested/exercised	0
Number of RSUs, Canceled	(413)
Number of RSUs, Balance	1,236
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding	$ 43
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expected to Vest, Number of Shares Outstanding	487
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expected to Vest, Weighted Average Grant Date Fair Value	$ 39.81
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expected to Vest, Weighted Average Remaining Contractual Term	2 years 3 months
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Expected to Vest	$ 17
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Grant Price, Balance	$ 38.67
Weighted Average Grant Price, Granted at fair market value	34.82	$ 48.66
Weighted Average Grant Price, Vested/exercised	35.56
Weighted Average Grant Price, Canceled	$ 39.40
Number of RSUs, Balance	838
Number of RSUs, Granted at fair market value	422
Number of RSUs, Vested/exercised	(336)
Number of RSUs, Canceled	(27)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expected to Vest, Number of Shares Outstanding	897
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expected to Vest, Weighted Average Grant Date Fair Value	$ 38.01
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expected to Vest, Weighted Average Remaining Contractual Term	1 year 5 months
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Expected to Vest	$ 31

Stock-Based Compensation (Summary Of Share Based Compensation Shares Authorized Under Stock Option Plans By Exercise Price Range) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 0.00
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	0		57
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.00		$ 0.79
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price	$ 0.00
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 1	$ 6
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	(57)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 0.79
Options outstanding, intrinsic value	$ 0		$ 1
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term		1 month
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	0
Proceeds from Stock Options Exercised		$ 2

Financial Instruments (Schedule Of Carrying Amounts And Estimated Fair Values) (Detail) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term debt and current portion of long-term debt	$ 23	$ 23
Long-term Debt, Excluding Current Maturities	3,501	3,528
Debt due to Avis Budget Rental Car Funding (AESOP) LLC—related party	8,540	7,358
Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term debt and current portion of long-term debt		23
Long-term Debt, Excluding Current Maturities		3,528
Debt due to Avis Budget Rental Car Funding (AESOP) LLC—related party		7,358
Vehicle Backed Debt	2,663	2,871
Debt Under Vehicle Programs Interest Rate Swaps And Interest Rate Contracts	2	3
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term debt and current portion of long-term debt	23	23
Long-term Debt, Excluding Current Maturities	3,561	3,462
Debt due to Avis Budget Rental Car Funding (AESOP) LLC—related party	8,607	7,383
Vehicle Backed Debt	2,677	2,881
Debt Under Vehicle Programs Interest Rate Swaps And Interest Rate Contracts	$ 2	$ 3

Financial Instruments (Narrative) (Detail) gal in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($) gal	Mar. 31, 2018 USD ($)
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Document Period End Date	Mar. 31, 2019
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	$ 5
Derivative Instruments, Gain (Loss) Recognized in Income, Net	12	$ (16)
Interest Rate Caps [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Absolute notional values of derivative instruments	8,335
Interest Rate Caps [Member] \| Subsidiaries [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Absolute notional values of derivative instruments	3,000
Interest Rate Swaps [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Absolute notional values of derivative instruments	1,500
Currency Swap [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Absolute notional values of derivative instruments	$ 1,839
Commodity Contracts [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Units Of Gasoline \| gal	14
Purchase [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Absolute notional values of derivative instruments	$ 2,700
Sold [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Absolute notional values of derivative instruments	5,700
Not Designated As Hedging Instruments [Member] \| Commodity Contracts [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Derivative Instruments, Gain (Loss) Recognized in Income, Net	3	0
Interest Expense [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Derivative Instruments, Gain (Loss) Recognized in Income, Net	4	13
Operating Expense [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Derivative Instruments, Gain (Loss) Recognized in Income, Net	$ 5	$ 4

Financial Instruments (Fair Values Of Derivatives Instruments) (Detail) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Fair Value, Asset Derivatives	$ 26	$ 17
Fair Value, Liability Derivatives	19	22
Designated As Hedging Instruments [Member] \| Interest Rate Swaps [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Fair Value, Asset Derivatives	7	12
Fair Value, Liability Derivatives	15	8
Not Designated As Hedging Instruments [Member] \| Foreign Exchange Contract [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Fair Value, Asset Derivatives	16	5
Fair Value, Liability Derivatives	4	11
Not Designated As Hedging Instruments [Member] \| Interest Rate Contracts [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Fair Value, Asset Derivatives	0	0
Fair Value, Liability Derivatives	0	2
Not Designated As Hedging Instruments [Member] \| Commodity Contracts [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Fair Value, Asset Derivatives	3	0
Fair Value, Liability Derivatives	$ 0	$ 1

Financial Instruments (Schedule Of Effect Of Derivatives Recognized) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Short-term debt and current portion of long-term debt	$ 23		$ 23
Derivatives not designated as hedging instruments	12	$ (16)
Debt due to Avis Budget Rental Car Funding (AESOP) LLC—related party	8,540		$ 7,358
Interest Rate Swaps [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Derivative, Notional Amount	1,500
Designated As Hedging Instruments [Member] \| Interest Rate Swaps [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Interest rate swaps	(8)	6
Designated As Hedging Instruments [Member] \| Foreign Exchange Contracts [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Interest rate swaps	16	(13)
Not Designated As Hedging Instruments [Member] \| Foreign Exchange Contracts [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Derivatives not designated as hedging instruments	1	(9)
Not Designated As Hedging Instruments [Member] \| Commodity Contracts [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Derivatives not designated as hedging instruments	3	0
Operating Expense [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Derivatives not designated as hedging instruments	5	4
Interest Expense [Member]
Schedule of Cost-method Investments [Line Items] (Deprecated 2018-01-31)
Derivatives not designated as hedging instruments	$ 4	$ 13

Segment Information (Summary Of Segments Information) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Assets Under Vehicle Programs	$ 13,980		$ 12,779
Document Fiscal Year Focus	2019
Revenues	$ 1,920	$ 1,968
Adjusted EBITDA	(1)	2
Non-vehicle related depreciation and amortization	67	61
Interest expense	42	46
Early extinguishment of debt	0	(5)
Non-operational charges related to shareholder activist activity	0	9
Transaction-related costs, net	5	4
Restructuring and other related charges	21	6
Income before income taxes	(136)	(129)
Americas [Member]
Segment Reporting Information [Line Items]
Assets Under Vehicle Programs	11,000		$ 9,700
Adjusted EBITDA	35	15
International [Member]
Segment Reporting Information [Line Items]
Revenues	593	620
Adjusted EBITDA	(21)	3
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenues	0	0
Adjusted EBITDA	(15)	(16)
Americas [Member]
Segment Reporting Information [Line Items]
Revenues	$ 1,327	$ 1,348

Segment Information (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Revenues	$ 1,920	$ 1,968
Document Period End Date	Mar. 31, 2019
Adjusted EBITDA	$ (1)	2
Non Vehicle Related Depreciation And Amortization	67	61
Restructuring and other related charges	21	6
Loss before income taxes	(136)	(129)
Assets Under Vehicle Programs	13,980		$ 12,779
Total assets exclusive of assets under vehicle programs	8,922		6,370
Americas [Member]
Segment Reporting Information [Line Items]
Segment Assets Exclusive Of Assets Under Vehicle Program	5,800		3,800
Adjusted EBITDA	35	15
Assets Under Vehicle Programs	11,000		9,700
International [Member]
Segment Reporting Information [Line Items]
Segment Assets Exclusive Of Assets Under Vehicle Program	3,000		$ 2,500
Revenues	593	620
Adjusted EBITDA	(21)	3
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenues	0	0
Adjusted EBITDA	$ (15)	$ (16)

Guarantor And Non-Guarantor Consolidating Condensed Financial Statements (Consolidating Condensed Statements Of Comprehensive Income) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues
Revenues	$ 1,920	$ 1,968
Expenses
Operating	1,071	1,092
Vehicle depreciation and lease charges, net		515
Vehicle depreciation and lease charges, net	485	515
Selling, general and administrative	284	296
Vehicle interest, net	81	72
Non-vehicle related depreciation and amortization	67	61
Interest expense	42	46
Intercompany interest expense (income)	0	0
Early extinguishment of debt	0	5
Restructuring and other related charges	21	6
Transaction-related costs, net	5	4
Total expenses	2,056	2,097
Income (loss) before income taxes and equity in earnings of subsidiaries	(136)	(129)
Provision for (benefit from) income taxes	45	42
Equity in earnings (loss) of subsidiaries	0	0
Net income (loss)	(91)	(87)
Comprehensive income (loss)	96	79
Eliminations [Member]
Revenues
Revenues	(572)	(575)
Expenses
Operating	0	0
Vehicle depreciation and lease charges, net		(525)
Vehicle depreciation and lease charges, net	(508)
Selling, general and administrative	0	0
Vehicle interest, net	(64)	(50)
Non-vehicle related depreciation and amortization	0	0
Interest expense	0	0
Intercompany interest expense (income)	0	0
Early extinguishment of debt	0
Restructuring and other related charges	0	0
Transaction-related costs, net	0	0
Total expenses	(572)	(575)
Income (loss) before income taxes and equity in earnings of subsidiaries	0	0
Provision for (benefit from) income taxes	0	0
Equity in earnings (loss) of subsidiaries	(2)	(84)
Net income (loss)	(2)	(84)
Comprehensive income (loss)	1	94
Parent Company [Member]
Revenues
Revenues	0	0
Expenses
Operating	0	1
Vehicle depreciation and lease charges, net		0
Vehicle depreciation and lease charges, net	0
Selling, general and administrative	11	18
Vehicle interest, net	0	0
Non-vehicle related depreciation and amortization	0	0
Interest expense	0	0
Intercompany interest expense (income)	(3)	(3)
Early extinguishment of debt	0
Restructuring and other related charges	3	0
Transaction-related costs, net	0	0
Total expenses	11	16
Income (loss) before income taxes and equity in earnings of subsidiaries	(11)	(16)
Provision for (benefit from) income taxes	4	6
Equity in earnings (loss) of subsidiaries	(84)	(77)
Net income (loss)	(91)	(87)
Comprehensive income (loss)	96	79
Subsidiaries [Member]
Revenues
Revenues	0	0
Expenses
Operating	0	4
Vehicle depreciation and lease charges, net		0
Vehicle depreciation and lease charges, net	0
Selling, general and administrative	2	3
Vehicle interest, net	0	0
Non-vehicle related depreciation and amortization	0	0
Interest expense	34	39
Intercompany interest expense (income)	(14)	22
Early extinguishment of debt	0	5
Restructuring and other related charges	0	0
Transaction-related costs, net	0	0
Total expenses	22	73
Income (loss) before income taxes and equity in earnings of subsidiaries	(22)	(73)
Provision for (benefit from) income taxes	8	19
Equity in earnings (loss) of subsidiaries	(70)	(23)
Net income (loss)	(84)	(77)
Comprehensive income (loss)	89	69
Guarantor Subsidiaries [Member]
Revenues
Revenues	1,188	1,184
Expenses
Operating	614	621
Vehicle depreciation and lease charges, net		536
Vehicle depreciation and lease charges, net	529
Selling, general and administrative	163	155
Vehicle interest, net	63	52
Non-vehicle related depreciation and amortization	38	36
Interest expense	0	1
Intercompany interest expense (income)	7	6
Early extinguishment of debt	0
Restructuring and other related charges	14	3
Transaction-related costs, net	1	0
Total expenses	1,429	1,410
Income (loss) before income taxes and equity in earnings of subsidiaries	(241)	(226)
Provision for (benefit from) income taxes	15	19
Equity in earnings (loss) of subsidiaries	156	184
Net income (loss)	(70)	(23)
Comprehensive income (loss)	68	21
Non-Guarantor Subsidiaries [Member]
Revenues
Revenues	1,304	1,359
Expenses
Operating	457	466
Vehicle depreciation and lease charges, net		504
Vehicle depreciation and lease charges, net	464
Selling, general and administrative	108	120
Vehicle interest, net	82	70
Non-vehicle related depreciation and amortization	29	25
Interest expense	8	6
Intercompany interest expense (income)	10	(25)
Early extinguishment of debt	0
Restructuring and other related charges	4	3
Transaction-related costs, net	4	4
Total expenses	1,166	1,173
Income (loss) before income taxes and equity in earnings of subsidiaries	138	186
Provision for (benefit from) income taxes	18	(2)
Equity in earnings (loss) of subsidiaries	0	0
Net income (loss)	156	184
Comprehensive income (loss)	$ (158)	$ (184)

Guarantor And Non-Guarantor Consolidating Condensed Financial Statements (Consolidating Condensed Balance Sheets) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Jun. 01, 2018	Mar. 31, 2018	Mar. 01, 2018	Dec. 31, 2017
Supplemental Guarantor Financial Information [Line Items]
Document Fiscal Year Focus	2019
Current assets:
Cash and cash equivalents	$ 540	$ 615		$ 544
Receivables, net	915	955
Other current assets	682	604
Total current assets	2,137	2,174
Property and equipment, net	737	736
Operating lease right-of-use assets	2,506	0
Deferred income taxes	1,389	1,301
Goodwill	1,086	1,092
Other intangibles, net	809	825
Other non-current assets	258	242
Intercompany receivables	0	0
Investment in subsidiaries	0	0	$ 19		$ 20
Total assets exclusive of assets under vehicle programs	8,922	6,370
Assets under vehicle programs:
Program cash	131	115		147
Vehicles, net	12,585	11,474
Receivables from vehicle manufacturers and other	627	631
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party	637	559
Total Assets under vehicle programs	13,980	12,779
Total assets	22,902	19,149
Current liabilities:
Accounts payable and other current liabilities	2,235	1,693
Short-term debt and current portion of long-term debt	23	23
Total current liabilities	2,258	1,716
Long-term debt	3,501	3,528
Long-term operating lease liabilities	2,046	0
Other non-current liabilities	739	767
Intercompany payables	0	0
Total liabilities exclusive of liabilities under vehicle programs	8,544	6,011
Liabilities under vehicle programs:
Debt	2,665	2,874
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	8,540	7,358
Deferred income taxes	1,995	1,961
Other	834	531
Total Liabilities under vehicle programs	14,034	12,724
Total stockholders’ equity	324	414		455		$ 573
Total liabilities and stockholders’ equity	22,902	19,149
Restricted Cash and Cash Equivalents	5			10
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	676	735		701		901
Non-Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents				518
Assets under vehicle programs:
Program cash				147
Liabilities under vehicle programs:
Restricted Cash and Cash Equivalents	4			10
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	664			675
Parent Company [Member]
Current assets:
Cash and cash equivalents	1	1
Receivables, net	0	0
Other current assets	8	5
Total current assets	9	6
Property and equipment, net	0	0
Operating lease right-of-use assets	0
Deferred income taxes	14	13
Goodwill	0	0
Other intangibles, net	0	0
Other non-current assets	48	47
Intercompany receivables	162	159
Investment in subsidiaries	148	246
Total assets exclusive of assets under vehicle programs	381	471
Assets under vehicle programs:
Program cash	0	0
Vehicles, net	0	0
Receivables from vehicle manufacturers and other	0	0
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party	0	0
Total Assets under vehicle programs	0	0
Total assets	381	471
Current liabilities:
Accounts payable and other current liabilities	16	16
Short-term debt and current portion of long-term debt	0	0
Total current liabilities	16	16
Long-term debt	0	0
Long-term operating lease liabilities	0
Other non-current liabilities	41	41
Intercompany payables	0	0
Total liabilities exclusive of liabilities under vehicle programs	57	57
Liabilities under vehicle programs:
Debt	0	0
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	0	0
Deferred income taxes	0	0
Other	0	0
Total Liabilities under vehicle programs	0	0
Total stockholders’ equity	324	414
Total liabilities and stockholders’ equity	381	471
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	1	1		3		4
Subsidiaries [Member]
Current assets:
Cash and cash equivalents	7	12
Receivables, net	0	0
Other current assets	130	112
Total current assets	137	124
Property and equipment, net	206	199
Operating lease right-of-use assets	722
Deferred income taxes	1,095	1,015
Goodwill	0	0
Other intangibles, net	25	26
Other non-current assets	38	39
Intercompany receivables	410	404
Investment in subsidiaries	4,722	4,786
Total assets exclusive of assets under vehicle programs	7,355	6,593
Assets under vehicle programs:
Program cash	0	0
Vehicles, net	60	55
Receivables from vehicle manufacturers and other	1	2
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party	0	0
Total Assets under vehicle programs	61	57
Total assets	7,416	6,650
Current liabilities:
Accounts payable and other current liabilities	308	246
Short-term debt and current portion of long-term debt	18	18
Total current liabilities	326	264
Long-term debt	2,498	2,501
Long-term operating lease liabilities	629
Other non-current liabilities	90	87
Intercompany payables	3,700	3,524
Total liabilities exclusive of liabilities under vehicle programs	7,243	6,376
Liabilities under vehicle programs:
Debt	25	28
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	0	0
Deferred income taxes	0	0
Other	0	0
Total Liabilities under vehicle programs	25	28
Total stockholders’ equity	148	246
Total liabilities and stockholders’ equity	7,416	6,650
Restricted Cash and Cash Equivalents	1
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	8	12		23		14
Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	3	1
Receivables, net	238	239
Other current assets	134	116
Total current assets	375	356
Property and equipment, net	317	319
Operating lease right-of-use assets	1,148
Deferred income taxes	206	207
Goodwill	470	471
Other intangibles, net	475	475
Other non-current assets	28	16
Intercompany receivables	2,157	2,104
Investment in subsidiaries	3,814	3,852
Total assets exclusive of assets under vehicle programs	8,990	7,800
Assets under vehicle programs:
Program cash	0	0
Vehicles, net	52	54
Receivables from vehicle manufacturers and other	82	0
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party	0	0
Total Assets under vehicle programs	134	54
Total assets	9,124	7,854
Current liabilities:
Accounts payable and other current liabilities	850	582
Short-term debt and current portion of long-term debt	2	3
Total current liabilities	852	585
Long-term debt	3	3
Long-term operating lease liabilities	960
Other non-current liabilities	242	257
Intercompany payables	410	404
Total liabilities exclusive of liabilities under vehicle programs	2,467	1,249
Liabilities under vehicle programs:
Debt	47	49
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	0	0
Deferred income taxes	1,802	1,770
Other	86	0
Total Liabilities under vehicle programs	1,935	1,819
Total stockholders’ equity	4,722	4,786
Total liabilities and stockholders’ equity	9,124	7,854
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	3	1		0		0
Subsidiaries Non Guarantor [Member]
Current assets:
Cash and cash equivalents	529	601
Receivables, net	677	716
Other current assets	410	371
Total current assets	1,616	1,688
Property and equipment, net	214	218
Operating lease right-of-use assets	636
Deferred income taxes	74	66
Goodwill	616	621
Other intangibles, net	309	324
Other non-current assets	144	140
Intercompany receivables	1,382	1,262
Investment in subsidiaries	0	0
Total assets exclusive of assets under vehicle programs	4,991	4,319
Assets under vehicle programs:
Program cash	131	115
Vehicles, net	12,473	11,365
Receivables from vehicle manufacturers and other	544	629
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party	637	559
Total Assets under vehicle programs	13,785	12,668
Total assets	18,776	16,987
Current liabilities:
Accounts payable and other current liabilities	1,061	849
Short-term debt and current portion of long-term debt	3	2
Total current liabilities	1,064	851
Long-term debt	1,000	1,024
Long-term operating lease liabilities	457
Other non-current liabilities	366	382
Intercompany payables	1	1
Total liabilities exclusive of liabilities under vehicle programs	2,888	2,258
Liabilities under vehicle programs:
Debt	2,593	2,797
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	8,540	7,358
Deferred income taxes	193	191
Other	748	531
Total Liabilities under vehicle programs	12,074	10,877
Total stockholders’ equity	3,814	3,852
Total liabilities and stockholders’ equity	18,776	16,987
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	664	721		675		883
Eliminations [Member]
Current assets:
Cash and cash equivalents	0	0
Receivables, net	0	0
Other current assets	0	0
Total current assets	0	0
Property and equipment, net	0	0
Operating lease right-of-use assets	0
Deferred income taxes	0	0
Goodwill	0	0
Other intangibles, net	0	0
Other non-current assets	0	0
Intercompany receivables	(4,111)	(3,929)
Investment in subsidiaries	(8,684)	(8,884)
Total assets exclusive of assets under vehicle programs	(12,795)	(12,813)
Assets under vehicle programs:
Program cash	0	0
Vehicles, net	0	0
Receivables from vehicle manufacturers and other	0	0
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party	0	0
Total Assets under vehicle programs	0	0
Total assets	(12,795)	(12,813)
Current liabilities:
Accounts payable and other current liabilities	0	0
Short-term debt and current portion of long-term debt	0	0
Total current liabilities	0	0
Long-term debt	0	0
Long-term operating lease liabilities	0
Other non-current liabilities	0	0
Intercompany payables	(4,111)	(3,929)
Total liabilities exclusive of liabilities under vehicle programs	(4,111)	(3,929)
Liabilities under vehicle programs:
Debt	0	0
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	0	0
Deferred income taxes	0	0
Other	0	0
Total Liabilities under vehicle programs	0	0
Total stockholders’ equity	(8,684)	(8,884)
Total liabilities and stockholders’ equity	(12,795)	(12,813)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 0	$ 0		$ 0		$ 0

Guarantor And Non-Guarantor Consolidating Condensed Financial Statements (Consolidating Condensed Statements Of Cash Flows) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Supplemental Guarantor Financial Information [Line Items]
Net cash provided by (used in) operating activities	$ 440	$ 503
Property and equipment additions	(57)	(57)
Proceeds received on asset sales	2	4
Payments to Acquire Restricted Investments	(5)	(10)
Other, net	(3)	(19)
Net cash used in investing activities exclusive of vehicle programs	(63)	(82)
Investment in vehicles	(4,376)	(4,226)
Proceeds received on disposition of vehicles	3,083	2,572
Repayments of Related Party Debt	(78)	0
Net cash used in investing activities of vehicle programs	(1,371)	(1,654)
Net cash used in investing activities	(1,434)	(1,736)
Proceeds from long-term borrowings	0	81
Principal payments on borrowings	(5)	(89)
Proceeds from (Repayments of) Short-term Debt	0	(1)
Repurchases of common stock	(4)	(14)
Debt financing fees	0	(8)
Other, net	0	1
Net cash provided by financing activities exclusive of vehicle programs	(9)	(30)
Proceeds from borrowings	5,989	5,100
Principal payments on borrowings	(5,038)	(4,045)
Debt financing fees	(5)	(1)
Net cash provided by financing activities of vehicle programs	946	1,054
Net cash provided by financing activities	937	1,024
Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash	(2)	9
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(59)	(200)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	676	701	$ 735	$ 901
Eliminations [Member]
Supplemental Guarantor Financial Information [Line Items]
Net cash provided by (used in) operating activities	0	(7)
Property and equipment additions	0	0
Proceeds received on asset sales	0	0
Payments to Acquire Restricted Investments	0	0
Other, net	0	0
Net cash used in investing activities exclusive of vehicle programs	0	0
Investment in vehicles	0	0
Proceeds received on disposition of vehicles	0	0
Repayments of Related Party Debt	0
Net cash used in investing activities of vehicle programs	0	0
Net cash used in investing activities	0	0
Proceeds from long-term borrowings		0
Principal payments on borrowings	0	0
Proceeds from (Repayments of) Short-term Debt		0
Repurchases of common stock	0	0
Debt financing fees		0
Other, net		7
Net cash provided by financing activities exclusive of vehicle programs	0	7
Proceeds from borrowings	0	0
Principal payments on borrowings	0	0
Debt financing fees	0	0
Net cash provided by financing activities of vehicle programs	0	0
Net cash provided by financing activities	0	7
Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	0	0	0	0
Non-Guarantor Subsidiaries [Member]
Supplemental Guarantor Financial Information [Line Items]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	664	675
Parent Company [Member]
Supplemental Guarantor Financial Information [Line Items]
Net cash provided by (used in) operating activities	4	12
Property and equipment additions	0	0
Proceeds received on asset sales	0	0
Payments to Acquire Restricted Investments	0	0
Other, net	0	0
Net cash used in investing activities exclusive of vehicle programs	0	0
Investment in vehicles	0	0
Proceeds received on disposition of vehicles	0	0
Repayments of Related Party Debt	0
Net cash used in investing activities of vehicle programs	0	0
Net cash used in investing activities	0	0
Proceeds from long-term borrowings		0
Principal payments on borrowings	0	0
Proceeds from (Repayments of) Short-term Debt		0
Repurchases of common stock	(4)	(14)
Debt financing fees		0
Other, net		1
Net cash provided by financing activities exclusive of vehicle programs	(4)	(13)
Proceeds from borrowings	0	0
Principal payments on borrowings	0	0
Debt financing fees	0	0
Net cash provided by financing activities of vehicle programs	0	0
Net cash provided by financing activities	(4)	(13)
Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	0	(1)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	1	3	1	4
Subsidiaries [Member]
Supplemental Guarantor Financial Information [Line Items]
Net cash provided by (used in) operating activities	5	41
Property and equipment additions	(16)	(15)
Proceeds received on asset sales	0	2
Payments to Acquire Restricted Investments	0	(3)
Other, net	0	0
Net cash used in investing activities exclusive of vehicle programs	(16)	(16)
Investment in vehicles	(1)	0
Proceeds received on disposition of vehicles	13	7
Repayments of Related Party Debt	0
Net cash used in investing activities of vehicle programs	12	7
Net cash used in investing activities	(4)	(9)
Proceeds from long-term borrowings		81
Principal payments on borrowings	(4)	(88)
Proceeds from (Repayments of) Short-term Debt		0
Repurchases of common stock	0	0
Debt financing fees		(8)
Other, net		(7)
Net cash provided by financing activities exclusive of vehicle programs	(4)	(22)
Proceeds from borrowings	0	0
Principal payments on borrowings	(1)	(1)
Debt financing fees	0	0
Net cash provided by financing activities of vehicle programs	(1)	(1)
Net cash provided by financing activities	(5)	(23)
Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(4)	9
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	8	23	12	14
Guarantor Subsidiaries [Member]
Supplemental Guarantor Financial Information [Line Items]
Net cash provided by (used in) operating activities	34	30
Property and equipment additions	(25)	(23)
Proceeds received on asset sales	0	0
Payments to Acquire Restricted Investments	(4)	(3)
Other, net	0	0
Net cash used in investing activities exclusive of vehicle programs	(29)	(26)
Investment in vehicles	0	(1)
Proceeds received on disposition of vehicles	0	0
Repayments of Related Party Debt	0
Net cash used in investing activities of vehicle programs	0	(1)
Net cash used in investing activities	(29)	(27)
Proceeds from long-term borrowings		0
Principal payments on borrowings	0	(1)
Proceeds from (Repayments of) Short-term Debt		0
Repurchases of common stock	0	0
Debt financing fees		0
Other, net		0
Net cash provided by financing activities exclusive of vehicle programs	0	(1)
Proceeds from borrowings	0	0
Principal payments on borrowings	(3)	(2)
Debt financing fees	0	0
Net cash provided by financing activities of vehicle programs	(3)	(2)
Net cash provided by financing activities	(3)	(3)
Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	2	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	3	0	1	0
Subsidiaries Non Guarantor [Member]
Supplemental Guarantor Financial Information [Line Items]
Net cash provided by (used in) operating activities	397	427
Property and equipment additions	(16)	(19)
Proceeds received on asset sales	2	2
Payments to Acquire Restricted Investments	(1)	(4)
Other, net	(3)	(19)
Net cash used in investing activities exclusive of vehicle programs	(18)	(40)
Investment in vehicles	(4,375)	(4,225)
Proceeds received on disposition of vehicles	3,070	2,565
Repayments of Related Party Debt	(78)
Net cash used in investing activities of vehicle programs	(1,383)	(1,660)
Net cash used in investing activities	(1,401)	(1,700)
Proceeds from long-term borrowings		0
Principal payments on borrowings	(1)	0
Proceeds from (Repayments of) Short-term Debt		(1)
Repurchases of common stock	0	0
Debt financing fees		0
Other, net		0
Net cash provided by financing activities exclusive of vehicle programs	(1)	(1)
Proceeds from borrowings	5,989	5,100
Principal payments on borrowings	(5,034)	(4,042)
Debt financing fees	(5)	(1)
Net cash provided by financing activities of vehicle programs	950	1,057
Net cash provided by financing activities	949	1,056
Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash	(2)	9
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(57)	(208)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 664	$ 675	$ 721	$ 883

Subsequent Events (Details) - Subsequent Event [Member] - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2019	Apr. 01, 2019
Subsequent Event [Line Items]
Proceeds from Sale of Equity Method Investments	$ 64
Debt Due To Avis Budget Rental Car Funding (Member)
Subsequent Event [Line Items]
Asset-Backed Securities, at Carrying Value		$ 650
Debt Instrument, Maturity Date	Sep. 01, 2024
Debt, Weighted Average Interest Rate		3.44%