2020 Q2 Form 10-Q Financial Statement

#000072361220000083 Filed on July 29, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $760.0M $2.337B
YoY Change -67.48% 0.39%
Cost Of Revenue $549.0M $1.172B
YoY Change -53.16% -0.26%
Gross Profit $211.0M $1.165B
YoY Change -81.89% 1.04%
Gross Profit Margin 27.76% 49.85%
Selling, General & Admin $132.0M $313.0M
YoY Change -57.83% -2.49%
% of Gross Profit 62.56% 26.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $405.0M $571.0M
YoY Change -29.07% -5.31%
% of Gross Profit 191.94% 49.01%
Operating Expenses $72.00M $313.0M
YoY Change -77.0% -2.49%
Operating Profit $139.0M $852.0M
YoY Change -83.69% 2.4%
Interest Expense $51.00M $48.00M
YoY Change 6.25% -2.04%
% of Operating Profit 36.69% 5.63%
Other Income/Expense, Net
YoY Change
Pretax Income -$609.0M $81.00M
YoY Change -851.85% 113.16%
Income Tax -$128.0M $19.00M
% Of Pretax Income 23.46%
Net Earnings -$481.0M $62.00M
YoY Change -875.81% 138.46%
Net Earnings / Revenue -63.29% 2.65%
Basic Earnings Per Share -$6.91 $0.81
Diluted Earnings Per Share -$6.91 $0.81
COMMON SHARES
Basic Shares Outstanding 69.60M shares 76.00M shares
Diluted Shares Outstanding 69.60M shares 76.40M shares

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.258B $534.0M
YoY Change 135.58% 9.2%
Cash & Equivalents $1.258B $534.0M
Short-Term Investments
Other Short-Term Assets $445.0M $832.0M
YoY Change -46.51% 0.0%
Inventory
Prepaid Expenses $165.0M $281.0M
Receivables $537.0M $920.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.240B $2.286B
YoY Change -2.01% 2.83%
LONG-TERM ASSETS
Property, Plant & Equipment $729.0M $749.0M
YoY Change -2.67% 4.76%
Goodwill $1.077B $1.107B
YoY Change -2.71% 5.53%
Intangibles $790.0M $806.0M
YoY Change -1.99% -4.39%
Long-Term Investments $725.0M $0.00
YoY Change -100.0%
Other Assets $227.0M $223.0M
YoY Change 1.79% -8.23%
Total Long-Term Assets $19.45B $22.17B
YoY Change -12.26% 18.58%
TOTAL ASSETS
Total Short-Term Assets $2.240B $2.286B
Total Long-Term Assets $19.45B $22.17B
Total Assets $21.69B $24.46B
YoY Change -11.31% 16.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $389.0M $400.0M
YoY Change -2.75% -2.91%
Accrued Expenses $974.0M $1.026B
YoY Change -5.07% 39.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $19.00M $420.0M
YoY Change -95.48% 1650.0%
Total Short-Term Liabilities $2.103B $2.669B
YoY Change -21.21% 43.8%
LONG-TERM LIABILITIES
Long-Term Debt $3.884B $3.115B
YoY Change 24.69% -12.1%
Other Long-Term Liabilities $735.0M $752.0M
YoY Change -2.26% 0.94%
Total Long-Term Liabilities $4.619B $3.867B
YoY Change 19.45% -9.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.103B $2.669B
Total Long-Term Liabilities $4.619B $3.867B
Total Liabilities $6.722B $6.536B
YoY Change 2.85% 6.36%
SHAREHOLDERS EQUITY
Retained Earnings -$1.425B -$1.116B
YoY Change 27.69% -15.2%
Common Stock $1.000M $1.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.176B $5.093B
YoY Change 1.63% 1.45%
Treasury Stock Shares 61.00M shares 61.00M shares
Shareholders Equity -$153.0M $376.0M
YoY Change
Total Liabilities & Shareholders Equity $21.69B $24.46B
YoY Change -11.31% 16.9%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$481.0M $62.00M
YoY Change -875.81% 138.46%
Depreciation, Depletion And Amortization $405.0M $571.0M
YoY Change -29.07% -5.31%
Cash From Operating Activities -$20.00M $525.0M
YoY Change -103.81% -15.05%
INVESTING ACTIVITIES
Capital Expenditures -$466.0M -$4.399B
YoY Change -89.41% 4.96%
Acquisitions
YoY Change
Other Investing Activities $2.265B $2.687B
YoY Change -15.71% 23.31%
Cash From Investing Activities $1.799B -$1.712B
YoY Change -205.08% -14.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.186B 1.090B
YoY Change -208.81% -20.15%
NET CHANGE
Cash From Operating Activities -20.00M 525.0M
Cash From Investing Activities 1.799B -1.712B
Cash From Financing Activities -1.186B 1.090B
Net Change In Cash 593.0M -97.00M
YoY Change -711.34% 234.48%
FREE CASH FLOW
Cash From Operating Activities -$20.00M $525.0M
Capital Expenditures -$466.0M -$4.399B
Free Cash Flow $446.0M $4.924B
YoY Change -90.94% 2.39%

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GainLossOnSaleOfVehicles
13000000 USD
car Gain Loss On Sale Of Vehicles
GainLossOnSaleOfVehicles
32000000 USD
car Non Vehicle Related Depreciation And Amortization
NonVehicleRelatedDepreciationAndAmortization
140000000 USD
car Non Vehicle Related Depreciation And Amortization
NonVehicleRelatedDepreciationAndAmortization
133000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
12000000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
16000000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
16000000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
6000000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-7000000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-243000000 USD
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
77000000 USD
car Increase Decrease In Income Taxes And Deferred Income Taxes
IncreaseDecreaseInIncomeTaxesAndDeferredIncomeTaxes
-240000000 USD
car Increase Decrease In Income Taxes And Deferred Income Taxes
IncreaseDecreaseInIncomeTaxesAndDeferredIncomeTaxes
-77000000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-98000000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
72000000 USD
car Increase Decreasein Operating Lease Liabilities
IncreaseDecreaseinOperatingLeaseLiabilities
-422000000 USD
car Increase Decreasein Operating Lease Liabilities
IncreaseDecreaseinOperatingLeaseLiabilities
-483000000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-182000000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-3000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
350000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
965000000 USD
car Property And Equipment Additions
PropertyAndEquipmentAdditions
64000000 USD
car Property And Equipment Additions
PropertyAndEquipmentAdditions
117000000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
4000000 USD
us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
60000000 USD
us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
54000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-81000000 USD
car Net Cash Used In Investing Activities Exclusive Of Vehicle Programs
NetCashUsedInInvestingActivitiesExclusiveOfVehiclePrograms
-120000000 USD
car Net Cash Used In Investing Activities Exclusive Of Vehicle Programs
NetCashUsedInInvestingActivitiesExclusiveOfVehiclePrograms
-84000000 USD
car Investment In Vehicles
InvestmentInVehicles
4196000000 USD
car Investment In Vehicles
InvestmentInVehicles
8715000000 USD
car Proceeds Received On Disposition Of Vehicles
ProceedsReceivedOnDispositionOfVehicles
4709000000 USD
car Proceeds Received On Disposition Of Vehicles
ProceedsReceivedOnDispositionOfVehicles
5773000000 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
175000000 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
167000000 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
99000000 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
47000000 USD
car Net Cash Used In Investing Activities Of Vehicle Programs
NetCashUsedInInvestingActivitiesOfVehiclePrograms
-437000000 USD
car Net Cash Used In Investing Activities Of Vehicle Programs
NetCashUsedInInvestingActivitiesOfVehiclePrograms
3062000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
317000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3146000000 USD
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
car Proceeds From Long Term Borrowings
ProceedsFromLongTermBorrowings
669000000 USD
car Proceeds From Long Term Borrowings
ProceedsFromLongTermBorrowings
2000000 USD
car Principal Payments On Long Term Borrowings
PrincipalPaymentsOnLongTermBorrowings
198000000 USD
car Principal Payments On Long Term Borrowings
PrincipalPaymentsOnLongTermBorrowings
12000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
15000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
118000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4000000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
17000000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
17000000 USD
car Net Cash Provided By Used In Financing Activities Exclusive Of Vehicle Programs
NetCashProvidedByUsedInFinancingActivitiesExclusiveOfVehiclePrograms
351000000 USD
car Net Cash Provided By Used In Financing Activities Exclusive Of Vehicle Programs
NetCashProvidedByUsedInFinancingActivitiesExclusiveOfVehiclePrograms
-31000000 USD
car Proceeds From Borrowings From Financing Activities Within Vehicle Programs
ProceedsFromBorrowingsFromFinancingActivitiesWithinVehiclePrograms
9042000000 USD
car Principal Payments On Borrowings From Financing Activities Within Vehicle Programs
PrincipalPaymentsOnBorrowingsFromFinancingActivitiesWithinVehiclePrograms
9610000000 USD
car Principal Payments On Borrowings From Financing Activities Within Vehicle Programs
PrincipalPaymentsOnBorrowingsFromFinancingActivitiesWithinVehiclePrograms
9688000000 USD
car Vehicle Programs Payments Of Financing Costs
VehicleProgramsPaymentsOfFinancingCosts
7000000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
292000000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-481000000 USD
car Proceeds From Borrowings From Financing Activities Within Vehicle Programs
ProceedsFromBorrowingsFromFinancingActivitiesWithinVehiclePrograms
11758000000 USD
car Vehicle Programs Payments Of Financing Costs
VehicleProgramsPaymentsOfFinancingCosts
12000000 USD
car Net Cash Provided By Used In Financing Activities Of Vehicle Programs
NetCashProvidedByUsedInFinancingActivitiesOfVehiclePrograms
-575000000 USD
car Net Cash Provided By Used In Financing Activities Of Vehicle Programs
NetCashProvidedByUsedInFinancingActivitiesOfVehiclePrograms
2058000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-224000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2027000000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-4000000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4000000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
439000000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-150000000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
900000000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
735000000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1339000000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
585000000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
33000000 USD
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-448000000 USD
CY2020Q2 us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
2000000 USD
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
5000000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-153000000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
324000000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
62000000 USD
CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2000000 USD
CY2019Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
60000000 USD
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
8000000 USD
CY2019Q2 car Option Premiums Paid
OptionPremiumsPaid
-16000000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
376000000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
656000000 USD
car Cumulative Effect Of Accounting
CumulativeEffectOfAccounting
-1000000 USD
us-gaap Net Income Loss
NetIncomeLoss
-639000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-66000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-705000000 USD
us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
2000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
3000000 USD
us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
15000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
113000000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-153000000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
414000000 USD
car Cumulative Effect Of Accounting
CumulativeEffectOfAccounting
5000000 USD
us-gaap Net Income Loss
NetIncomeLoss
-29000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-7000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-36000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
9000000 USD
car Option Premiums Paid
OptionPremiumsPaid
-16000000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
376000000 USD
CY2020Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1200000000 USD
CY2020Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
1800000000 USD
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1258000000 USD
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
534000000 USD
CY2020Q2 car Program Cash
ProgramCash
79000000 USD
CY2019Q2 car Program Cash
ProgramCash
48000000 USD
CY2020Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2000000 USD
CY2019Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3000000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1339000000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
585000000 USD
car Net Unrealized Gain Or Loss Of Foreign Currency Transactions On Intercompany Loan Hedges
NetUnrealizedGainOrLossOfForeignCurrencyTransactionsOnIntercompanyLoanHedges
6000000 USD
car Net Unrealized Gain Or Loss Of Foreign Currency Transactions On Intercompany Loan Hedges
NetUnrealizedGainOrLossOfForeignCurrencyTransactionsOnIntercompanyLoanHedges
3000000 USD
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
64000000 USD
us-gaap Gain Loss On Sale Of Equity Investments
GainLossOnSaleOfEquityInvestments
44000000 USD
CY2020Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
53000000 USD
CY2019Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
56000000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
1000000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
4000000 USD
CY2019Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
8000000 USD
CY2020Q2 us-gaap Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Cumulative Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueUpwardPriceAdjustmentCumulativeAmount
12000000 USD
CY2020Q2 car Otherrelated Revenue
OtherrelatedRevenue
22000000 USD
CY2019Q2 car Otherrelated Revenue
OtherrelatedRevenue
33000000 USD
car Otherrelated Revenue
OtherrelatedRevenue
54000000 USD
car Otherrelated Revenue
OtherrelatedRevenue
63000000 USD
CY2020Q2 us-gaap Revenues
Revenues
760000000 USD
CY2019Q2 us-gaap Revenues
Revenues
2337000000 USD
us-gaap Revenues
Revenues
2513000000 USD
us-gaap Revenues
Revenues
4257000000 USD
CY2020Q2 us-gaap Revenues
Revenues
760000000 USD
CY2019Q2 us-gaap Revenues
Revenues
2337000000 USD
us-gaap Revenues
Revenues
2513000000 USD
us-gaap Revenues
Revenues
4257000000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
4194000000 USD
CY2020Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
738000000 USD
CY2019Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
2304000000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
2459000000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
4194000000 USD
CY2020Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
738000000 USD
CY2019Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
2304000000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
2459000000 USD
us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
30000000 USD
CY2020Q2 us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
30000000 USD
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
513000000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
479000000 USD
CY2019Q4 us-gaap Restructuring Reserve
RestructuringReserve
6000000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-481000000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
62000000 USD
car Chargesrelatedtovoluntaryterminationprogram
Chargesrelatedtovoluntaryterminationprogram
18000000 USD
car Chargesrelatedtovoluntaryterminationprogram Numberof Positions Eliminated
ChargesrelatedtovoluntaryterminationprogramNumberofPositionsEliminated
400 Employee
us-gaap Net Income Loss
NetIncomeLoss
-639000000 USD
us-gaap Net Income Loss
NetIncomeLoss
-29000000 USD
CY2020Q2 us-gaap Restructuring Reserve
RestructuringReserve
11000000 USD
CY2019Q4 us-gaap Restructuring Reserve
RestructuringReserve
6000000 USD
CY2020Q2 us-gaap Restructuring Reserve
RestructuringReserve
11000000 USD
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69600000 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76000000.0 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71300000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
75900000 shares
CY2020Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2019Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
400000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69600000 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
71300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
75900000 shares
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-6.91
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.81
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-8.96
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.39
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-6.91
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.81
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-8.96
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.39
CY2020Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
165000000 USD
CY2019Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
234000000 USD
CY2020Q2 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
134000000 USD
CY2019Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
173000000 USD
CY2020Q2 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
146000000 USD
CY2019Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
141000000 USD
CY2020Q2 us-gaap Other Assets Current
OtherAssetsCurrent
445000000 USD
CY2019Q4 us-gaap Other Assets Current
OtherAssetsCurrent
548000000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
571000000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
328000000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
243000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
546000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
298000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
248000000 USD
CY2020Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
16000000 USD
CY2019Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
14000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
29000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
31000000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
35000000 USD
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
CY2020Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
63000000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
32000000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
24000000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
21000000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
16000000 USD
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
CY2020Q2 car Rental Vehicles
RentalVehicles
11964000000 USD
CY2019Q4 car Rental Vehicles
RentalVehicles
13461000000 USD
CY2020Q2 car Accumulated Depreciation
AccumulatedDepreciation
1525000000 USD
CY2019Q4 car Accumulated Depreciation
AccumulatedDepreciation
1621000000 USD
CY2020Q2 car Rental Vehicles Net
RentalVehiclesNet
10439000000 USD
CY2019Q4 car Rental Vehicles Net
RentalVehiclesNet
11840000000 USD
CY2020Q2 car Vehicles Held For Sale
VehiclesHeldForSale
371000000 USD
CY2019Q4 car Vehicles Held For Sale
VehiclesHeldForSale
337000000 USD
CY2020Q2 car Vehicles Net
VehiclesNet
10810000000 USD
CY2019Q4 car Vehicles Net
VehiclesNet
12177000000 USD
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
CY2020Q2 car Vehicle Depreciation Expense
VehicleDepreciationExpense
334000000 USD
CY2020Q2 car Vehicle Depreciation Expense
VehicleDepreciationExpense
334000000 USD
CY2019Q2 car Vehicle Depreciation Expense
VehicleDepreciationExpense
505000000 USD
car Vehicle Depreciation Expense
VehicleDepreciationExpense
748000000 USD
car Vehicle Depreciation Expense
VehicleDepreciationExpense
941000000 USD
CY2020Q2 car Vehicle Lease Charges
VehicleLeaseCharges
42000000 USD
CY2020Q2 car Vehicle Lease Charges
VehicleLeaseCharges
42000000 USD
CY2019Q2 car Vehicle Lease Charges
VehicleLeaseCharges
62000000 USD
car Vehicle Lease Charges
VehicleLeaseCharges
98000000 USD
car Vehicle Lease Charges
VehicleLeaseCharges
119000000 USD
CY2020Q2 car Gain Loss On Sale Of Vehicles Net And Cost Of Vehicle Disposition
GainLossOnSaleOfVehiclesNetAndCostOfVehicleDisposition
2000000 USD
CY2020Q2 car Gain Loss On Sale Of Vehicles Net And Cost Of Vehicle Disposition
GainLossOnSaleOfVehiclesNetAndCostOfVehicleDisposition
2000000 USD
CY2019Q2 car Gain Loss On Sale Of Vehicles Net And Cost Of Vehicle Disposition
GainLossOnSaleOfVehiclesNetAndCostOfVehicleDisposition
24000000 USD
car Gain Loss On Sale Of Vehicles Net And Cost Of Vehicle Disposition
GainLossOnSaleOfVehiclesNetAndCostOfVehicleDisposition
13000000 USD
car Gain Loss On Sale Of Vehicles Net And Cost Of Vehicle Disposition
GainLossOnSaleOfVehiclesNetAndCostOfVehicleDisposition
32000000 USD
CY2020Q2 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
374000000 USD
CY2019Q2 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
543000000 USD
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
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dei Document Fiscal Year Focus
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dei Document Fiscal Year Focus
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dei Document Fiscal Year Focus
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2020
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P1Y6M
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dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
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us-gaap Derivative Gain Loss On Derivative Net
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dei Document Fiscal Year Focus
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2020
CY2020Q2 us-gaap Revenues
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CY2019Q2 us-gaap Revenues
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175000000 USD
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
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175000000 USD
CY2020Q2 car Covid19 Charges
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73000000 USD
CY2020Q2 car Non Vehicle Related Depreciation And Amortization
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71000000 USD
CY2019Q2 car Non Vehicle Related Depreciation And Amortization
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CY2020Q2 us-gaap Interest Expense
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CY2019Q2 us-gaap Interest Expense
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CY2019Q2 us-gaap Gains Losses On Extinguishment Of Debt
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28000000 USD
CY2019Q2 us-gaap Restructuring Charges
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23000000 USD
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CY2019Q2 car Transactionrelatedcostsnet
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1000000 USD
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0 USD
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81000000 USD
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30000000 USD
CY2020Q2 us-gaap Unusual Or Infrequent Item Net Gain Loss
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28000000 USD
CY2020Q2 us-gaap Supplies Expense
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us-gaap Revenues
Revenues
2513000000 USD
car Adjusted Earnings Before Income Depreciation And Amortization
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us-gaap Revenues
Revenues
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car Adjusted Earnings Before Income Depreciation And Amortization
AdjustedEarningsBeforeIncomeDepreciationAndAmortization
174000000 USD
car Adjusted Earnings Before Income Depreciation And Amortization
AdjustedEarningsBeforeIncomeDepreciationAndAmortization
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car Adjusted Earnings Before Income Depreciation And Amortization
AdjustedEarningsBeforeIncomeDepreciationAndAmortization
174000000 USD
car Non Vehicle Related Depreciation And Amortization
NonVehicleRelatedDepreciationAndAmortization
140000000 USD
car Non Vehicle Related Depreciation And Amortization
NonVehicleRelatedDepreciationAndAmortization
140000000 USD
car Non Vehicle Related Depreciation And Amortization
NonVehicleRelatedDepreciationAndAmortization
133000000 USD
us-gaap Interest Expense
InterestExpense
99000000 USD
us-gaap Interest Expense
InterestExpense
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
car Covid19 Charges
COVID19Charges
80000000 USD
car Covid19 Charges
COVID19Charges
0 USD
us-gaap Restructuring Charges
RestructuringCharges
72000000 USD
us-gaap Restructuring Charges
RestructuringCharges
44000000 USD
car Nonoperationalchargesrelatedtoshareholderactivistactivity
Nonoperationalchargesrelatedtoshareholderactivistactivity
4000000 USD
car Nonoperationalchargesrelatedtoshareholderactivistactivity
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0 USD
car Transactionrelatedcostsnet
Transactionrelatedcostsnet
3000000 USD
car Transactionrelatedcostsnet
Transactionrelatedcostsnet
6000000 USD
us-gaap Equity Method Investment Realized Gain Loss On Disposal
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us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Operating Expenses
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79000000 USD
us-gaap Unusual Or Infrequent Item Net Gain Loss
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33000000 USD
us-gaap Operating Leases Rent Expense Minimum Rentals
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30000000 USD
us-gaap Supplies Expense
SuppliesExpense
17000000 USD

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