Intangible Assets

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets consisted of:


	As of March 31, 2026						As of December 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized Intangible Assets
License agreements	$	337	$	246	$	91	$	296	$	243	$	53
Customer relationships	254		240		14		257		240		17
Other	55		50		5		56		51		5
Total	$	646	$	536	$	110	$	609	$	534	$	75
Unamortized Intangible Assets
Goodwill	$	1,120					$	1,129
Trademarks	$	514					$	514

For the three months ended March 31, 2026 and 2025, amortization expense related to amortizable intangible assets was approximately $7 million and $6 million, respectively.

Based on our amortizable intangible assets as of March 31, 2026, we expect amortization expense of approximately $23 million for the remainder of 2026, $24 million for 2027, $19 million for 2028, $16 million for 2029, $16 million for 2030 and $7 million for 2031, excluding effects of currency exchange rates.

AVIS BUDGET GROUP, INC. 10-Q