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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 555 $ 570
Receivables (net of allowance for doubtful accounts of $87 and $86, respectively) 900 810
Other current assets 684 506
Total current assets 2,139 1,886
Property and equipment, net 719 594
Operating lease right-of-use assets 2,654 2,405
Deferred income taxes 1,868 1,379
Goodwill 1,099 1,070
Other intangibles, net 670 666
Other non-current assets 441 499
Total assets exclusive of assets under vehicle programs 9,590 8,499
Assets under vehicle programs:    
Program cash 85 70
Vehicles, net 21,240 15,961
Receivables from vehicle manufacturers and other 443 421
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party 1,211 976
Total assets under vehicle programs 22,979 17,428
Total assets 32,569 25,927
Current liabilities:    
Accounts payable and other current liabilities 2,627 2,547
Short-term debt and current portion of long-term debt 32 27
Total current liabilities 2,659 2,574
Long-term debt 4,791 4,644
Long-term operating lease liabilities 2,117 1,884
Other non-current liabilities 528 554
Total liabilities exclusive of liabilities under vehicle programs 10,095 9,656
Liabilities under vehicle programs:    
Debt 3,496 2,534
Debt due to Avis Budget Rental Car Funding (AESOP) LLC—related party 15,441 11,275
Deferred income taxes 3,418 2,754
Other 462 408
Total Liabilities under vehicle programs 22,817 16,971
Commitments and contingencies (Note 15)
Stockholders’ equity:    
Preferred stock, $.01 par value—authorized 10 shares; none issued and outstanding 0 0
Common stock, $.01 par value—authorized 250 shares; issued 137 shares, respectively 1 1
Additional paid-in capital 6,634 6,666
Retained earnings 3,854 2,579
Accumulated other comprehensive loss (96) (101)
Treasury stock, at cost 102 and 98 shares, respectively (10,742) (9,848)
Stockholders’ equity attributable to Avis Budget Group, Inc. (349) (703)
Non-controlling interests 6 3
Total stockholders’ equity (343) (700)
Total liabilities and stockholders’ equity $ 32,569 $ 25,927