Ryder System (R) 10-Q 28 Jul 21 2021 Q2 Quarterly report Financial data

Cover

Cover	6 Months Ended
	Jun. 30, 2021shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	1-4364
Entity Registrant Name	RYDER SYSTEM, INC.
Entity Incorporation, State or Country Code	FL
Entity Tax Identification Number	59-0739250
Entity Address, Address Line One	11690 N.W. 105th Street
Entity Address, City or Town	Miami,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33178
City Area Code	(305)
Local Phone Number	500-3726
Title of 12(b) Security	Ryder System, Inc. Common Stock ($0.50 par value)
Trading Symbol	R
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	53,773,599
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000085961

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Lease & related maintenance and rental revenues	$ 986,694	$ 868,660	$ 1,927,116	$ 1,796,416
Total revenues	2,382,237	1,895,282	4,603,859	4,056,588
Other operating expenses	33,481	29,849	67,381	63,414
Selling, general and administrative expenses	269,268	208,564	511,010	432,683
Non-operating pension costs, net	(373)	936	(382)	2,157
Used vehicle sales, net	(51,634)	9,488	(80,485)	30,172
Interest expense	54,155	67,285	108,861	129,851
Miscellaneous (income) loss, net	(43,812)	(9,946)	(49,246)	(1,278)
Restructuring and other items, net	7,667	37,200	18,326	68,147
Total expenses	2,178,664	1,990,059	4,330,019	4,264,999
Earnings (loss) from continuing operations before income taxes	203,573	(94,777)	273,840	(208,411)
Provision for (benefit from) income taxes	54,005	(21,072)	72,688	(25,577)
Earnings (loss) from continuing operations	149,568	(73,705)	201,152	(182,834)
Earnings (loss) from discontinued operations, net of tax	(463)	(394)	(1,222)	(878)
Net earnings (loss)	$ 149,105	$ (74,099)	$ 199,930	$ (183,712)
Earnings (loss) per common share — Basic
Continuing operations (in dollars per share)	$ 2.84	$ (1.41)	$ 3.83	$ (3.50)
Discontinued operations (in dollars per share)	(0.01)	(0.01)	(0.02)	(0.02)
Net earnings (loss) (in dollars per share)	2.83	(1.42)	3.80	(3.52)
Earnings (loss) per common share — Diluted
Continuing operations (in dollars per share)	2.78	(1.41)	3.75	(3.50)
Discontinued operations (in dollars per share)	(0.01)	(0.01)	(0.02)	(0.02)
Net earnings (loss) (in dollars per share)	$ 2.77	$ (1.42)	$ 3.73	$ (3.52)
Cost of lease & related maintenance and rental
Cost of services sold	$ 708,737	$ 775,350	$ 1,438,881	$ 1,593,642
Services revenue
Revenue	1,276,140	942,267	2,441,628	2,054,455
Cost of services sold	1,091,725	793,353	2,091,517	1,747,782
Fuel services revenue
Revenue	119,403	84,355	235,115	205,717
Cost of services sold	$ 109,450	$ 77,980	$ 224,156	$ 198,429

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 149,105	$ (74,099)	$ 199,930	$ (183,712)
Other comprehensive income (loss):
Changes in cumulative translation adjustment and unrealized losses from cash flow hedges	9,551	7,878	18,491	(76,742)
Amortization of pension and postretirement items	6,951	7,371	13,967	15,150
Income tax expense related to amortization of pension and postretirement items	(1,453)	(1,492)	(2,971)	(3,105)
Amortization of pension and postretirement items, net of taxes	5,498	5,879	10,996	12,045
Change in net actuarial loss and prior service cost	116	(4,539)	116	(4,539)
Income tax (expense) benefit related to change in net actuarial loss and prior service cost	(80)	1,087	(80)	1,087
Change in net actuarial loss and prior service cost, net of taxes	36	(3,452)	36	(3,452)
Other comprehensive income (loss), net of taxes	15,085	10,305	29,523	(68,149)
Comprehensive income (loss)	$ 164,190	$ (63,794)	$ 229,453	$ (251,861)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 267,992	$ 151,294
Receivables, net	1,298,905	1,182,350
Inventories	62,707	61,191
Prepaid expenses and other current assets	159,260	200,694
Total current assets	1,788,864	1,595,529
Revenue earning equipment, net	8,531,099	8,777,015
Operating property and equipment, net of accumulated depreciation of $1,240,575 and $1,212,164	932,549	927,058
Goodwill	475,553	475,245
Intangible assets, net	39,814	43,216
Sales-type leases and other assets	1,135,157	1,113,891
Total assets	12,903,036	12,931,954
Current liabilities:
Short-term debt and current portion of long-term debt	1,362,669	516,581
Accounts payable	672,553	547,389
Accrued expenses and other current liabilities	1,020,832	989,178
Total current liabilities	3,056,054	2,053,148
Long-term debt	4,873,002	6,093,655
Other non-current liabilities	1,371,053	1,403,861
Deferred income taxes	1,184,713	1,125,733
Total liabilities	10,484,822	10,676,397
Commitments and Contingencies
Shareholders’ equity:
Preferred stock, no par value per share — authorized, 3,800,917; none outstanding, June 30, 2021 and December 31, 2020	0	0
Common stock, $0.50 par value per share — authorized, 400,000,000; outstanding, June 30, 2021 — 53,773,599 and December 31, 2020 — 53,732,033	26,886	26,866
Additional paid-in capital	1,163,267	1,132,954
Retained earnings	2,015,743	1,912,942
Accumulated other comprehensive loss	(787,682)	(817,205)
Total shareholders’ equity	2,418,214	2,255,557
Total liabilities and shareholders’ equity	$ 12,903,036	$ 12,931,954

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accumulated depreciation	$ 1,240,575	$ 1,212,164
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	3,800,917	3,800,917
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares outstanding (in shares)	53,773,599	53,732,033

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities from continuing operations:
Net earnings (loss)	$ 199,930	$ (183,712)
Less: Loss from discontinued operations, net of tax	(1,222)	(878)
Earnings (loss) from continuing operations	201,152	(182,834)
Depreciation expense	905,420	1,056,171
Used vehicle sales, net	(80,485)	30,172
Amortization expense and other non-cash charges, net	26	74,854
Non-cash lease expense	46,599	45,055
Non-operating pension costs, net and share-based compensation expense	22,912	12,787
Deferred income tax expense (benefit)	56,397	(36,148)
Collections on sales-type leases	62,778	54,724
Changes in operating assets and liabilities:
Receivables	(105,319)	69,212
Inventories	(1,422)	18,680
Prepaid expenses and other assets	945	(7,338)
Accounts payable	65,771	(54,434)
Accrued expenses and other non-current liabilities	(43,541)	17,884
Net cash provided by operating activities from continuing operations	1,131,233	1,098,785
Cash flows from investing activities from continuing operations:
Purchases of property and revenue earning equipment	(904,399)	(704,930)
Sales of revenue earning equipment	330,277	214,189
Sales of operating property and equipment	44,409	4,231
Other	(3,695)	(5,756)
Net cash used in investing activities from continuing operations	(533,408)	(492,266)
Cash flows from financing activities from continuing operations:
Net repayments of commercial paper and other	(198,560)	(603,086)
Debt proceeds	0	2,074,189
Debt repayments	(189,699)	(1,236,255)
Dividends on common stock	(60,826)	(60,155)
Common stock issued	20,552	1,240
Common stock repurchased	(48,978)	(11,924)
Other	(1,460)	(9,277)
Net cash provided by (used in) financing activities from continuing operations	(478,971)	154,732
Effect of exchange rate changes on cash and cash equivalents	(2,369)	(3,022)
Increase (decrease) in cash and cash equivalents from continuing operations	116,485	758,229
Increase (decrease) in cash and cash equivalents from discontinued operations	213	(344)
Increase (decrease) in cash and cash equivalents	116,698	757,885
Cash and cash equivalents at beginning of year	151,294	73,584
Cash and cash equivalents at end of period	$ 267,992	$ 831,469

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss
Beginning balance at Dec. 31, 2019	$ 2,476,310	$ (5,077)	$ 0	$ 26,639	$ 1,108,649	$ 2,177,513	$ (5,077)	$ (836,491)
Beginning balance (in shares) at Dec. 31, 2019				53,278,316
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	(251,861)					(183,712)		(68,149)
Common stock dividends declared	(60,226)					(60,226)
Common stock issued under employee stock award and stock purchase plans and other (in shares)				843,623
Common stock issued under employee stock award and stock purchase plans and other	1,240			$ 422	818
Common stock repurchases (in shares)				(303,098)
Common stock repurchases	(11,924)			$ (152)	(6,214)	(5,558)
Share-based compensation	10,630				10,630
Ending balance at Jun. 30, 2020	2,159,092		0	$ 26,909	1,113,883	1,922,940		(904,640)
Ending balance (in shares) at Jun. 30, 2020				53,818,841
Beginning balance at Mar. 31, 2020	2,242,736		0	$ 26,867	1,103,928	2,026,886		(914,945)
Beginning balance (in shares) at Mar. 31, 2020				53,735,964
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	(63,794)					(74,099)		10,305
Common stock dividends declared	(29,847)					(29,847)
Common stock issued under employee stock award and stock purchase plans and other (in shares)				82,877
Common stock issued under employee stock award and stock purchase plans and other	2,458			$ 42	2,416
Share-based compensation	7,539				7,539
Ending balance at Jun. 30, 2020	2,159,092		0	$ 26,909	1,113,883	1,922,940		(904,640)
Ending balance (in shares) at Jun. 30, 2020				53,818,841
Beginning balance at Dec. 31, 2020	$ 2,255,557		0	$ 26,866	1,132,954	1,912,942		(817,205)
Beginning balance (in shares) at Dec. 31, 2020	53,732,033			53,732,033
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	$ 229,453					199,930		29,523
Common stock dividends declared	(61,664)					(61,664)
Common stock issued under employee stock award and stock purchase plans and other (in shares)				679,567
Common stock issued under employee stock award and stock purchase plans and other	20,552			$ 339	20,213
Common stock repurchases (in shares)				(638,001)
Common stock repurchases	(48,978)			$ (319)	(13,194)	(35,465)
Share-based compensation	23,294				23,294
Ending balance at Jun. 30, 2021	$ 2,418,214		0	$ 26,886	1,163,267	2,015,743		(787,682)
Ending balance (in shares) at Jun. 30, 2021	53,773,599			53,773,599
Beginning balance at Mar. 31, 2021	$ 2,279,687		0	$ 26,935	1,135,644	1,919,875		(802,767)
Beginning balance (in shares) at Mar. 31, 2021				53,870,387
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	164,190					149,105		15,085
Common stock dividends declared	(31,095)					(31,095)
Common stock issued under employee stock award and stock purchase plans and other (in shares)				253,256
Common stock issued under employee stock award and stock purchase plans and other	22,349			$ 126	22,223
Common stock repurchases (in shares)				(350,044)
Common stock repurchases	(29,534)			$ (175)	(7,217)	(22,142)
Share-based compensation	12,617				12,617
Ending balance at Jun. 30, 2021	$ 2,418,214		$ 0	$ 26,886	$ 1,163,267	$ 2,015,743		$ (787,682)
Ending balance (in shares) at Jun. 30, 2021	53,773,599			53,773,599

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per common share (in dollars per share)	$ 0.56	$ 0.56	$ 1.12	$ 1.12

GENERAL

GENERAL	6 Months Ended
	Jun. 30, 2021
Accounting Changes and Error Corrections [Abstract]
GENERAL	GENERAL Interim Financial Statements The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of Ryder System, Inc. (Ryder) and all entities in which Ryder has a controlling voting interest (subsidiaries) and variable interest entities (VIE) required to be consolidated in accordance with generally accepted accounting principles in the United States (GAAP). The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with the accounting policies described in our 2020 Annual Report on Form 10-K and should be read in conjunction with the Consolidated Financial Statements and notes thereto. The year-end condensed balance sheet data was derived from our audited financial statements, but does not include all disclosures required by GAAP. In the opinion of management, all adjustments, including normal recurring accruals, considered necessary for a fair statement have been included and the disclosures herein are adequate. The operating results for interim periods are not necessarily indicative of the results that can be expected for a full year. We adjusted our presentation of the revolving credit facility proceeds and repayments in the Condensed Consolidated Statements of Cash Flows for 2020 from a net basis to reflect a gross basis. We report our financial performance based on three business segments: (1) Fleet Management Solutions (FMS), which provides full service leasing and leasing with flexible maintenance options, commercial rental and maintenance services of trucks, tractors and trailers to customers principally in the United States (U.S.), Canada and the United Kingdom (U.K.); (2) Supply Chain Solutions (SCS), which provides integrated logistics solutions, including distribution management, dedicated transportation, transportation management, last mile and professional services in North America; and (3) Dedicated Transportation Solutions (DTS), which provides turnkey transportation solutions in the U.S. that includes dedicated vehicles, drivers, management, and administrative support. Dedicated transportation services provided as part of an operationally integrated, multi-service, supply chain solution to SCS customers are primarily reported in the SCS business segment. The COVID-19 effects negatively impacted several areas of our businesses, particularly in the first half of 2020. While we are experiencing positive momentum in our businesses, any additional negative effects of the pandemic may have a further impact on our business and financial results, as well as on significant judgments and estimates, including those related to goodwill and other asset impairments, residual values and other depreciation assumptions, deferred income taxes and annual effective tax rates, variable revenue considerations, the valuation of our pension plans, and allowance for credit losses.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jun. 30, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Reference Rate Reform In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2020-04, Reference Rate Reform (Topic 848). This update provides optional expedients for applying GAAP to contracts, hedging relationships, and other transactions that reference LIBOR or another rate expected to be discontinued at the end of 2021 because of reference rate reform. The update is effective for all transactions between March 12, 2020 through December 31, 2022. We continuously evaluate the impact on our consolidated financial position, results of operations, and cash flows. Leases

REVENUE

REVENUE	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Disaggregation of Revenue The following tables disaggregate our revenue recognized by primary geographical market by our reportable business segments and by industry for SCS. Refer to Note 18, "Segment Reporting," for the disaggregation of our revenue by major products/service lines. Primary Geographical Markets Three months ended June 30, 2021 FMS SCS DTS Eliminations Total (In thousands) United States $ 1,263,250 $ 661,715 $ 354,711 $ (148,052) $ 2,131,624 Canada 76,849 58,735 — (8,293) 127,291 Europe 68,142 — — — 68,142 Mexico — 55,180 — — 55,180 Total revenues $ 1,408,241 $ 775,630 $ 354,711 $ (156,345) $ 2,382,237 Three months ended June 30, 2020 FMS SCS DTS Eliminations Total (In thousands) United States $ 1,081,448 $ 441,332 $ 293,944 $ (112,925) $ 1,703,799 Canada 60,480 40,288 — (3,232) 97,536 Europe 56,249 — — — 56,249 Mexico — 37,698 — — 37,698 Total revenues $ 1,198,177 $ 519,318 $ 293,944 $ (116,157) $ 1,895,282 Six months ended June 30, 2021 FMS SCS DTS Eliminations Total (In thousands) United States $ 2,461,234 $ 1,263,013 $ 675,218 $ (284,779) $ 4,114,686 Canada 147,262 114,823 — (12,636) 249,449 Europe 135,230 — — — 135,230 Mexico — 104,494 — — 104,494 Total revenues $ 2,743,726 $ 1,482,330 $ 675,218 $ (297,415) $ 4,603,859 Six months ended June 30, 2020 FMS SCS DTS Eliminations Total (In thousands) United States $ 2,278,969 $ 963,857 $ 628,832 $ (250,220) $ 3,621,438 Canada 131,245 93,840 — (8,203) 216,882 Europe 128,200 — — — 128,200 Mexico — 90,068 — — 90,068 Total revenues $ 2,538,414 $ 1,147,765 $ 628,832 $ (258,423) $ 4,056,588 Industry Our SCS business segment included revenue from the below industries: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Automotive $ 307,499 $ 147,749 $ 579,054 $ 397,674 Technology and healthcare 109,950 84,766 207,035 175,899 Consumer packaged goods and retail 286,262 236,499 559,486 466,431 Industrial and other 71,919 50,304 136,755 107,761 Total SCS revenues $ 775,630 $ 519,318 $ 1,482,330 $ 1,147,765 Lease & Related Maintenance and Rental Revenues The non-lease revenue from maintenance services related to our FMS business is recognized in "Lease & related maintenance and rental revenues" in the Condensed Consolidated Statements of Earnings. For the three months ended June 30, 2021 and 2020, we recognized $260 million and $238 million, respectively. For the six months ended June 30, 2021 and 2020, we recognized $510 million and $478 million, respectively. Deferred Revenue The following table includes the changes in deferred revenue due to the collection and deferral of cash or the satisfaction of our performance obligation under the contract: Six months ended June 30, 2021 2020 (In thousands) Balance as of beginning of period $ 629,739 $ 603,687 Recognized as revenue during period from beginning balance (109,558) (103,089) Consideration deferred during period, net 91,456 116,524 Foreign currency translation adjustment and other 1,499 (3,150) Balance as of end of period $ 613,136 $ 613,972 Contracted Not Recognized Revenue

RECEIVABLES, NET

RECEIVABLES, NET	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
RECEIVABLES, NET	RECEIVABLES, NET June 30, 2021 December 31, 2020 (In thousands) Trade $ 1,160,076 $ 1,051,618 Sales-type leases 137,535 132,003 Other, primarily warranty and insurance 41,926 41,753 1,339,537 1,225,374 Allowance for credit losses and other (40,632) (43,024) Total $ 1,298,905 $ 1,182,350 The following table provides a reconciliation of our allowance for credit losses and other: Six months ended June 30, 2021 2020 (In thousands) Balance as of beginning of period $ 43,024 $ 22,761 Changes to provisions for credit losses (1,076) 32,600 Impact of adoption of new accounting standard, write-offs, and other (1,316) (10,453) Balance as of end of period $ 40,632 $ 44,908

REVENUE EARNING EQUIPMENT, NET

REVENUE EARNING EQUIPMENT, NET	6 Months Ended
	Jun. 30, 2021
Revenue Earning Equipment [Abstract]
REVENUE EARNING EQUIPMENT, NET	REVENUE EARNING EQUIPMENT, NET Estimated Useful Lives June 30, 2021 December 31, 2020 Cost Accumulated Net Cost Accumulated Net (In years) (In thousands) Held for use: Trucks 3 — 7 $ 5,195,420 $ (1,945,096) $ 3,250,324 $ 5,061,266 $ (1,818,594) $ 3,242,672 Tractors 4 — 7.5 7,247,325 (3,040,912) 4,206,413 7,013,595 (2,853,591) 4,160,004 Trailers and other 9.5 — 12 1,765,247 (768,590) 996,657 2,046,768 (804,006) 1,242,762 Held for sale 370,339 (292,634) 77,705 644,132 (512,555) 131,577 Total $ 14,578,331 $ (6,047,232) $ 8,531,099 $ 14,765,761 $ (5,988,746) $ 8,777,015 Policy and Accelerated Depreciation We periodically review and adjust, as appropriate, the estimated residual values and useful lives of existing revenue earning equipment for the purposes of recording depreciation expense. A reduction in estimated residual values or useful lives will result in an increase in depreciation expense over the remaining life of the vehicle. Our review of the estimated residual values and useful lives of revenue earning equipment is established with a long-term view, which we refer to as "policy depreciation." Our policy depreciation is based on a variety of factors, including vehicle class, generally subcategories of trucks, tractors and trailers, by weight, usage and other factors; historical, current, and internal and third-party expected future market prices; expected lives of vehicles; and expected sales of used vehicles in the wholesale and retail markets. Factors that could cause actual results to materially differ from estimates, include changes in technology; changes in supply and demand; competitor pricing; regulatory requirements; driver shortages, requirements and preferences; and changes in underlying assumption factors. We have disciplines related to the management and maintenance of our vehicles designed to manage the risk associated with the residual values of our revenue earning equipment. We also assess estimates of residual values of vehicles expected to be made available for sale in the near-term (generally 12 to 24 months) based on near-term market rates and conditions and may adjust estimates of residual values for these vehicles, which we refer to as "accelerated depreciation." During the second quarter of 2021, we completed a review of the residual values and useful lives of revenue earning equipment. Based on the results of our analysis, we primarily adjusted our residual value estimates for certain tractors and useful lives of certain classes of our revenue earning equipment, which impacted approximately 15% of our total fleet. The increase in depreciation expense in the second quarter of 2021 was not material to our results of operations. The following table provides a summary of amounts that have been recorded for accelerated and policy depreciation related to our residual value and useful life estimate changes since 2019, as well as used vehicle sales results (rounded to the closest million): Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Accelerated depreciation $ 12,000 $ 77,000 $ 42,000 $ 156,000 Policy depreciation 63,000 68,000 121,000 119,000 Used vehicle sales, net (52,000) 9,000 (80,000) 30,000 Used Vehicle Sales and Valuation Adjustments Revenue earning equipment held for sale is stated at the lower of carrying amount or fair value less costs to sell. Losses on vehicles held for sale for which carrying values exceeded fair value, which we refer to as "valuation adjustments," are recognized at the time they are deemed to meet the held for sale criteria and are presented within “Used vehicle sales, net” in the Condensed Consolidated Statements of Earnings. For revenue earning equipment held for sale, we stratify our fleet by vehicle type (trucks, tractors and trailers), weight class, age and other relevant characteristics and create classes of similar assets for analysis purposes. For revenue earning equipment held for sale, fair value was determined based upon recent market prices obtained from our own sales experience for each class of similar assets and vehicle condition. In addition, we also consider expected declines in market prices when valuing the vehicles held for sale, as well as the forecasted sales channel mix (retail/wholesale). The following table presents our assets held for sale that are measured at fair value on a nonrecurring basis and considered a Level 3 fair value measurement: Valuation Adjustments Three months ended June 30, Six months ended June 30, June 30, 2021 December 31, 2020 (2) 2021 2020 2021 2020 (In thousands) Revenue earning equipment held for sale (1) : Trucks $ 2,209 $ 3,848 $ 684 $ 5,389 $ 1,574 $ 16,451 Tractors 1,383 2,211 575 3,035 659 11,488 Trailers and other 2,176 4,092 1,828 2,592 3,875 4,585 Total assets at fair value $ 5,768 $ 10,151 $ 3,087 $ 11,016 $ 6,108 $ 32,524 ———————————— (1) Revenue earning equipment held for sale in the table above only includes the portion where net book values exceeded fair values and valuation adjustments were recorded. The net book value of assets held for sale that were less than fair value was $72 million and $121 million as of June 30, 2021 and December 31, 2020, respectively. (2) Adjusted the presentation of the vehicles held for sale that were recorded to fair value to now exclude vehicles that previously recognized accumulated accelerated depreciation. The components of used vehicle sales, net were as follows: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Gains on vehicle sales, net $ (54,721) $ (1,528) $ (86,593) $ (2,352) Losses from valuation adjustments 3,087 11,016 6,108 32,524 Used vehicle sales, net $ (51,634) $ 9,488 $ (80,485) $ 30,172

ACCRUED EXPENSES AND OTHER LIAB

ACCRUED EXPENSES AND OTHER LIABILITIES	6 Months Ended
	Jun. 30, 2021
Accrued Liabilities and Other Liabilities [Abstract]
ACCRUED EXPENSES AND OTHER LIABILITIES	ACCRUED EXPENSES AND OTHER LIABILITIES June 30, 2021 December 31, 2020 Accrued Non-Current Total Accrued Non-Current Total (In thousands) Salaries and wages $ 167,568 $ — $ 167,568 $ 158,122 $ — $ 158,122 Deferred compensation 5,613 84,975 90,588 5,117 77,823 82,940 Pension benefits 3,787 258,341 262,128 3,776 265,178 268,954 Other postretirement benefits 1,386 17,490 18,876 1,381 20,245 21,626 Other employee benefits 13,755 — 13,755 20,599 — 20,599 Insurance obligations (1) 174,582 300,086 474,668 169,936 292,298 462,234 Operating taxes (2) 174,058 41,683 215,741 164,293 41,687 205,980 Income taxes 3,133 16,326 19,459 4,588 15,598 20,186 Interest 38,129 — 38,129 38,887 — 38,887 Deposits, mainly from customers 90,349 3,014 93,363 79,840 3,014 82,854 Operating lease liabilities 80,657 172,377 253,034 78,785 186,429 265,214 Deferred revenue (3) 187,467 425,669 613,136 183,474 446,265 629,739 Restructuring liabilities 3,293 — 3,293 7,683 — 7,683 Other 77,055 51,092 128,147 72,697 55,324 128,021 Total $ 1,020,832 $ 1,371,053 $ 2,391,885 $ 989,178 $ 1,403,861 $ 2,393,039 ———————————— (1) Insurance obligations are primarily comprised of self-insured claim liabilities. (2) Operating taxes included the deferral of certain payroll taxes in current and non-current liabilities allowed under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESEffective Tax RateOur effective income tax rate from continuing operations for the second quarter of 2021 was an expense of 26.5% as compared to a benefit of 22.2% in the second quarter of 2020 and an expense of 26.5% in the six months ended June 30, 2021 as compared to a benefit of 12.3% in the six months ended June 30, 2020. For the three and six months ended June 30, 2020, the tax rate was impacted by a reduction in earnings due to accelerated depreciation charges and additional negative economic impacts caused by the COVID-19 effects. For the six months ended June 30, 2020, the tax rate was also impacted by the recognition of a valuation allowance of $13 million related to our U.K. deferred tax assets and a charge of $7 million related to expiring state net operating losses.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
LEASES	LEASES The components of lease income were as follows: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Operating leases Lease income related to ChoiceLease $ 386,650 $ 385,639 $ 776,261 $ 785,227 Lease income related to commercial rental (1) 255,098 161,220 465,382 356,915 Sales-type leases Interest income related to net investment in leases $ 11,040 $ 12,080 $ 25,455 $ 23,724 Variable lease income excluding commercial rental (1) $ 72,129 $ 58,882 $ 144,122 $ 124,389 ———————————— (1) Lease income related to commercial rental includes both fixed and variable lease income. Variable lease income is approximately 15% to 25% of total commercial rental income based on management's internal estimates. The components of net investment in sales-type leases, which are included in "Receivables, net" and "Sales-type leases and other assets" in the Condensed Consolidated Balance Sheets, were as follows: June 30, 2021 December 31, 2020 (In thousands) Net investment in the lease — lease payment receivable $ 589,935 $ 589,120 Net investment in the lease — unguaranteed residual value in assets 46,034 44,704 635,969 633,824 Estimated loss allowance (4,066) (4,025) Total $ 631,903 $ 629,799
LEASES	LEASES The components of lease income were as follows: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Operating leases Lease income related to ChoiceLease $ 386,650 $ 385,639 $ 776,261 $ 785,227 Lease income related to commercial rental (1) 255,098 161,220 465,382 356,915 Sales-type leases Interest income related to net investment in leases $ 11,040 $ 12,080 $ 25,455 $ 23,724 Variable lease income excluding commercial rental (1) $ 72,129 $ 58,882 $ 144,122 $ 124,389 ———————————— (1) Lease income related to commercial rental includes both fixed and variable lease income. Variable lease income is approximately 15% to 25% of total commercial rental income based on management's internal estimates. The components of net investment in sales-type leases, which are included in "Receivables, net" and "Sales-type leases and other assets" in the Condensed Consolidated Balance Sheets, were as follows: June 30, 2021 December 31, 2020 (In thousands) Net investment in the lease — lease payment receivable $ 589,935 $ 589,120 Net investment in the lease — unguaranteed residual value in assets 46,034 44,704 635,969 633,824 Estimated loss allowance (4,066) (4,025) Total $ 631,903 $ 629,799

DEBT

DEBT	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
DEBT	DEBT Weighted Average Interest Rate June 30, 2021 Maturities June 30, December 31, (In thousands) Debt: U.S. commercial paper 0.19% 2023 $ 55,522 $ 214,375 Canadian commercial paper 0.30% 2023 25,004 62,800 Trade receivables program —% 2022 — — Global revolving credit facility —% 2023 — 200 Unsecured U.S. obligations 3.47% 2024 200,000 200,000 Unsecured U.S. notes — Medium-term notes (1) 3.41% 2021-2026 5,152,922 5,174,180 Unsecured foreign obligations 1.87% 2022-2024 167,182 254,259 Asset-backed U.S. obligations (2) 2.56% 2021-2026 611,275 682,383 Finance lease obligations and other 2021-2073 45,762 48,418 6,257,667 6,636,615 Debt issuance costs and original issue discounts (21,996) (26,379) Total debt 6,235,671 6,610,236 Short-term debt and current portion of long-term debt (1,362,669) (516,581) Long-term debt $ 4,873,002 $ 6,093,655 ———————————— (1) Included the impact from the fair market values of hedging instruments on our notes, which were not material as of June 30, 2021 and December 31, 2020. The notional amount of interest rate swaps designated as fair value hedges was $150 million as of June 30, 2021 and December 31, 2020. (2) Asset-backed U.S. obligations are related to financing transactions backed by a portion of our revenue earning equipment. The fair value of total debt (excluding finance lease and asset-backed U.S. obligations) was approximately $5.9 billion and $6.3 billion as of June 30, 2021 and December 31, 2020, respectively. For publicly-traded debt, estimates of fair value were based on market prices. For other debt, fair value was estimated based on a model-driven approach using rates currently available to us for debt with similar terms and remaining maturities. The fair value measurements of our publicly-traded debt and other debt were classified within Level 2 of the fair value hierarchy. As of June 30, 2021, there was $1.3 billion available under the global credit facility. In order to maintain availability of funding, we must maintain a ratio of debt to consolidated net worth of less than or equal to 300%. As of June 30, 2021, the ratio was 177%. We had letters of credit and surety bonds outstanding of $458 million and $519 million as of June 30, 2021 and December 31, 2020, respectively, which primarily guarantee the payment of insurance claims. In April 2021, we extended the maturity of the trade receivables program to April 2022. As of June 30, 2021, the available proceeds under the program were $300 million. In August 2021, we will early redeem a $300 million aggregate principal amount outstanding of our 3.450% Medium Term Notes due November 15, 2021. The impact of this redemption is not expected to be material to our results of operations.

SHARE REPURCHASE PROGRAMS

SHARE REPURCHASE PROGRAMS	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
SHARE REPURCHASE PROGRAMS	SHARE REPURCHASE PROGRAMS In December 2019, our Board of Directors authorized a share repurchase program intended to mitigate the dilutive impact of shares issued under our employee stock plans (the 2019 program). Under the 2019 program, we are authorized to repurchase up to 1.5 million shares of common stock, the sum of which will not exceed the number of shares issued to employees under our employee stock plans from December 1, 2019 to December 11, 2021. Share repurchases of common stock are made periodically in open-market transactions and are subject to market conditions, legal requirements, and other factors. We may establish prearranged written plans under Rule 10b5-1 of the Securities Exchange Act of 1934 as part of the program, which allow for share repurchases during our quarterly blackout periods as set forth in the trading plan.During the six months ended June 30, 2021 and June 30, 2020, we repurchased approximately 638,001 shares for $49 million and 303,098 shares for $12 million, respectively.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS Comprehensive income (loss) presents a measure of all changes in shareholders’ equity except for changes resulting from transactions with shareholders in their capacity as shareholders. The following summary sets forth the components of accumulated other comprehensive loss, net of tax: Six months ended June 30, 2021 2020 (In thousands) Cumulative translation adjustments $ (132,115) $ (228,121) Net actuarial loss and prior service cost (644,008) (658,866) Unrealized gain (loss) from cash flow hedges (11,559) (17,653) Accumulated other comprehensive loss $ (787,682) $ (904,640)

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table presents the calculation of basic and diluted earnings per common share from continuing operations: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands, except per share amounts) Earnings (loss) from continuing operations $ 149,568 $ (73,705) $ 201,152 $ (182,834) Less: Distributed and undistributed earnings allocated to unvested stock (703) (130) (940) (248) Earnings (loss) from continuing operations available to common shareholders $ 148,865 $ (73,835) $ 200,212 $ (183,082) Weighted average common shares outstanding — Basic 52,378 52,355 52,333 52,320 Effect of dilutive equity awards 1,213 — 1,039 — Weighted average common shares outstanding — Diluted 53,591 52,355 53,372 52,320 Earnings (loss) from continuing operations per common share — Basic $ 2.84 $ (1.41) $ 3.83 $ (3.50) Earnings (loss) from continuing operations per common share — Diluted $ 2.78 $ (1.41) $ 3.75 $ (3.50) Anti-dilutive equity awards not included in diluted EPS 417 3,612 958 3,498

SHARE-BASED COMPENSATION PLANS

SHARE-BASED COMPENSATION PLANS	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION PLANS	SHARE-BASED COMPENSATION PLANS The following table provides information on share-based compensation expense and income tax benefit recognized: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Stock option and stock purchase plans $ 636 $ 1,052 $ 1,637 $ 2,409 Unvested stock awards 11,981 6,487 21,657 8,221 Share-based compensation expense 12,617 7,539 23,294 10,630 Income tax benefit (1,981) (1,307) (3,513) (1,485) Share-based compensation expense, net of tax $ 10,636 $ 6,232 $ 19,781 $ 9,145 Total unrecognized pre-tax compensation expense related to all share-based compensation arrangements at June 30, 2021 was $64 million and is expected to be recognized over a weighted-average period of 2.1 years. We generally grant share-based awards in the first quarter of each year during our annual equity award process. The following table is a summary of the awards granted in the annual equity award process in the first quarter of 2021: Shares Granted Weighted-Average (Shares in thousands) Time-vested restricted stock rights 391 $ 64.89 Performance-based restricted stock rights 119 67.11 Total 510 $ 65.41 Restricted stock awards are unvested stock rights granted to employees that entitle the holder to shares of common stock as the award vests. Time-vested restricted stock rights typically vest ratably over three years regardless of company performance. The fair value of the time-vested awards is determined and fixed based on Ryder’s stock price on the date of grant. Performance-based restricted stock rights (PBRSRs) are generally granted to executive management and include a performance-based vesting condition. PBRSRs are awarded based on various revenue, return-based and cash flow performance targets and may include a total shareholder return (TSR) modifier for certain members of management. The fair values of PBRSRs that include a TSR modifier are estimated using a lattice-based option-pricing valuation model that incorporates a Monte-Carlo simulation. The fair value of PBRSRs that do not include a TSR modifier is determined and fixed on the grant date based on our stock price on the date of grant. Share-based compensation expense for PBRSRs is recognized on a straight-line basis over the vesting period, based upon the probability that the performance target will be met. PBRSRs awarded in the first quarter of 2021 contained vesting conditions based on return on equity, strategic revenue growth and free cash flow.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	6 Months Ended
	Jun. 30, 2021
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Components of net pension expense were as follows: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Company-administered plans: Service cost $ 180 $ 2,741 $ 548 $ 5,954 Interest cost 14,483 17,353 29,018 34,885 Expected return on plan assets (21,791) (23,948) (43,485) (48,211) Amortization of net actuarial loss and prior service cost 7,031 7,622 14,128 15,524 (97) 3,768 209 8,152 Multi-employer plans 2,539 2,798 5,180 5,577 Net pension expense $ 2,442 $ 6,566 $ 5,389 $ 13,729 Company-administered plans: U.S. $ 2,090 $ 6,055 $ 4,453 $ 12,833 Non-U.S. (2,187) (2,287) (4,244) (4,681) (97) 3,768 209 8,152 Multi-employer plans 2,539 2,798 5,180 5,577 Net pension expense $ 2,442 $ 6,566 $ 5,389 $ 13,729

OTHER ITEMS IMPACTING COMPARABI

OTHER ITEMS IMPACTING COMPARABILITY	6 Months Ended
	Jun. 30, 2021
Other Income and Expenses [Abstract]
OTHER ITEMS IMPACTING COMPARABILITY	OTHER ITEMS IMPACTING COMPARABILITY Our primary measure of segment performance as shown in Note 18, "Segment Reporting," excludes certain items we do not believe are representative of the ongoing operations of the segment. Excluding these items from our segment measure of performance allows for better year over year comparison: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Restructuring and other, net $ 2,577 $ 26,168 $ 5,605 $ 46,789 ERP implementation costs 5,090 11,032 12,721 21,358 Restructuring and other items, net 7,667 37,200 18,326 68,147 Gains on sale of properties (35,263) — (36,768) — ChoiceLease liability insurance revenue (1) — (7,409) (777) (16,767) Other items impacting comparability, net $ (27,596) $ 29,792 $ (19,219) $ 51,381 ———————————— (1) Refer to Note 18, "Segment Reporting," for additional information. Note: Amounts may not be additive due to rounding. During the six months ended June 30, 2021 and 2020, other items impacting comparability included: • Restructuring and other, net — For the three and six months ended June 30, 2021 , this item primarily included professional fees related to the pursuit of a discrete commercial claim. For the three and six months ended June 30, 2020, this item primarily included expenses of $9 million and $24 million, respecti vely, related to our ChoiceLease liability insurance program which was discontinued in January 2020 and exited in the first quarter of 2021. The prior year, also included severance costs of $13 million for planned actions to reduce headcount primarily in our North American and U.K. FMS operations. • ERP implementation costs — This item includes costs associated with the implementation of an Enterprise Resource Planning (ERP) system. In July 2020, we went live with the first module of our ERP system for human resources. In April 2021, we went live with the financial module to replace existing core financial systems. • Gains of sale of properties

CONTINGENCIES AND OTHER MATTERS

CONTINGENCIES AND OTHER MATTERS	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES AND OTHER MATTERS	CONTINGENCIES AND OTHER MATTERS We are a party to various claims, complaints and proceedings arising in the ordinary course of our continuing business operations including those relating to commercial and employment claims, environmental matters, risk management matters (e.g., vehicle liability, workers’ compensation, etc.) and administrative assessments primarily associated with operating taxes. We have established loss provisions for matters in which losses are probable and can be reasonably estimated. We believe that the resolution of these claims, complaints and legal proceedings will not have a material effect on our Condensed Consolidated Financial Statements. Our estimates regarding potential losses and materiality are based on our judgment and assessment of the claims utilizing currently available information. Although we will continue to reassess our reserves and estimates based on future developments, our objective assessment of the legal merits of such claims may not always be predictive of the outcome and actual results may vary from our current estimates. Securities Litigation Relating to Residual Value Estimates On May 20, 2020, a putative class action on behalf of purchasers of our securities who purchased or otherwise acquired their securities between July 23, 2015 and February 13, 2020, inclusive (Class Period), was commenced against Ryder and certain of our current and former officers in the U.S. District Court for the Southern District of Florida, captioned Key West Policy & Fire Pension Fund v. Ryder System, Inc., et al. The complaint alleges, among other things, that the defendants misrepresented Ryder’s depreciation policy and residual value estimates for its vehicles during the Class Period in violation of Section 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, and seeks to recover, among other things, unspecified compensatory damages and attorneys' fees and costs. On August 3, 2020, the State of Alaska, Alaska Permanent Fund, the City of Fort Lauderdale General Employees’ Retirement System, and the City of Plantation Police Officers Pension Fund were appointed lead plaintiffs. On October 5, 2020, the lead plaintiffs filed an amended complaint. On December 4, 2020, Ryder and the other named defendants in the case filed a Motion to Dismiss the amended complaint. On April 7, 2021, the court held a hearing on defendants’ Motion to Dismiss, and reserved decision. On June 26, 2020, August 6, 2020, and February 2, 2021, three shareholder derivative complaints purportedly on behalf of Ryder were filed in the Circuit Court of the 11th Judicial Circuit in and for Miami-Dade County, Florida, against us as nominal defendant and certain of our current and former officers and our current directors. The complaints allege breach of fiduciary duties, unjust enrichment, and waste of corporate assets. The complaints are based on the allegation set forth in the securities class action complaint. The plaintiffs, on our behalf, are seeking an award of monetary damages and restitution to us, improvements in our corporate governance and internal procedures, and legal fees. These derivative cases have all been consolidated and stayed (stopped) until the Motion to Dismiss in the securities class action described above is resolved. Also, on January 19, 2021 (as amended on March 26, 2021), and February 8, 2021, two shareholder derivative complaints purportedly on behalf of Ryder were filed in U.S. District Court for the Southern District of Florida against us as nominal defendant and certain of our current and former officers and directors. The complaints allege breach of fiduciary duties, unjust enrichment, and waste of corporate assets. Both complaints are based on the allegation set forth in the securities class action complaint, seek similar relief on our behalf to that sought in the derivative complaints that were filed in Florida state court, and have been stayed (stopped) until the Motion to Dismiss in the securities class action is resolved. We believe the claims asserted in the complaints are without merit and intend to defend against them vigorously.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION Six months ended June 30, 2021 2020 (In thousands) Interest paid $ 104,417 $ 123,258 Income taxes paid 15,812 4,997 Right-of-use assets obtained in exchange for lease obligations: Finance leases $ 5,622 $ 5,511 Operating leases 30,274 52,640 Capital expenditures acquired but not yet paid $ 167,587 $ 75,576

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING Our primary measurement of segment financial performance, defined as segment “Earnings (loss) from continuing operations before taxes” (EBT), includes an allocation of Central Support Services (CSS) and excludes non-operating pension costs, net and certain other items as discussed in Note 15, “Other Items Impacting Comparability.” Segment results are not necessarily indicative of the results of operations that would have occurred had each segment been an independent, stand-alone entity during the periods presented. The following table sets forth financial information for each of our segments and provides a reconciliation between segment EBT and earnings (loss) from continuing operations before income taxes: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Revenue: Fleet Management Solutions: ChoiceLease $ 802,832 $ 766,161 $ 1,599,920 $ 1,558,367 SelectCare 136,503 125,851 267,171 261,997 Commercial rental 266,969 169,171 489,978 374,937 Other 18,369 12,332 35,717 35,758 Fuel services revenue 183,568 117,253 350,163 290,588 ChoiceLease liability insurance revenue (1) — 7,409 777 16,767 Fleet Management Solutions 1,408,241 1,198,177 2,743,726 2,538,414 Supply Chain Solutions 775,630 519,318 1,482,330 1,147,765 Dedicated Transportation Solutions 354,711 293,944 675,218 628,832 Eliminations (2) (156,345) (116,157) (297,415) (258,423) Total revenue $ 2,382,237 $ 1,895,282 $ 4,603,859 $ 4,056,588 Earnings (loss) from continuing operations before taxes: Fleet Management Solutions $ 158,451 $ (103,735) $ 221,853 $ (218,309) Supply Chain Solutions 41,041 36,916 73,998 67,941 Dedicated Transportation Solutions 13,162 21,233 26,144 33,413 Eliminations (19,186) (7,745) (31,460) (17,814) 193,468 (53,331) 290,535 (134,769) Unallocated Central Support Services (17,864) (10,718) (36,296) (20,104) Non-operating pension costs, net (3) 373 (936) 382 (2,157) Other items impacting comparability, net (4) 27,596 (29,792) 19,219 (51,381) Earnings (loss) from continuing operations before income taxes $ 203,573 $ (94,777) $ 273,840 $ (208,411) ———————————— (1) In the first quarter of 2020, we announced our plan to exit the extension of our liability insurance coverage for ChoiceLease customers. The exit of this program was completed in the first quarter of 2021. (2) Represents the elimination of intercompany revenues in our FMS business segment. (3) Refer to Note 14, "Employee Benefit Plans," for a discussion on this item. (4) Refer to Note 15, “Other Items Impacting Comparability,” for a discussion of items excluded from our primary measure of segment performance. The following table sets forth the capital expenditures paid for each of our segments: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Fleet Management Solutions $ 503,874 $ 256,216 $ 871,582 $ 679,332 Supply Chain Solutions 14,450 13,868 22,980 19,874 Dedicated Transportation Solutions 256 339 562 763 Central Support Services 4,768 3,547 9,275 4,961 Purchases of property and revenue earning equipment $ 523,348 $ 273,970 $ 904,399 $ 704,930

RECENT ACCOUNTING PRONOUNCEME_2

RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS Reference Rate Reform In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2020-04, Reference Rate Reform (Topic 848). This update provides optional expedients for applying GAAP to contracts, hedging relationships, and other transactions that reference LIBOR or another rate expected to be discontinued at the end of 2021 because of reference rate reform. The update is effective for all transactions between March 12, 2020 through December 31, 2022. We continuously evaluate the impact on our consolidated financial position, results of operations, and cash flows. Leases

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Revenue From External Customers by Geographic Areas	The following tables disaggregate our revenue recognized by primary geographical market by our reportable business segments and by industry for SCS. Refer to Note 18, "Segment Reporting," for the disaggregation of our revenue by major products/service lines. Primary Geographical Markets Three months ended June 30, 2021 FMS SCS DTS Eliminations Total (In thousands) United States $ 1,263,250 $ 661,715 $ 354,711 $ (148,052) $ 2,131,624 Canada 76,849 58,735 — (8,293) 127,291 Europe 68,142 — — — 68,142 Mexico — 55,180 — — 55,180 Total revenues $ 1,408,241 $ 775,630 $ 354,711 $ (156,345) $ 2,382,237 Three months ended June 30, 2020 FMS SCS DTS Eliminations Total (In thousands) United States $ 1,081,448 $ 441,332 $ 293,944 $ (112,925) $ 1,703,799 Canada 60,480 40,288 — (3,232) 97,536 Europe 56,249 — — — 56,249 Mexico — 37,698 — — 37,698 Total revenues $ 1,198,177 $ 519,318 $ 293,944 $ (116,157) $ 1,895,282 Six months ended June 30, 2021 FMS SCS DTS Eliminations Total (In thousands) United States $ 2,461,234 $ 1,263,013 $ 675,218 $ (284,779) $ 4,114,686 Canada 147,262 114,823 — (12,636) 249,449 Europe 135,230 — — — 135,230 Mexico — 104,494 — — 104,494 Total revenues $ 2,743,726 $ 1,482,330 $ 675,218 $ (297,415) $ 4,603,859 Six months ended June 30, 2020 FMS SCS DTS Eliminations Total (In thousands) United States $ 2,278,969 $ 963,857 $ 628,832 $ (250,220) $ 3,621,438 Canada 131,245 93,840 — (8,203) 216,882 Europe 128,200 — — — 128,200 Mexico — 90,068 — — 90,068 Total revenues $ 2,538,414 $ 1,147,765 $ 628,832 $ (258,423) $ 4,056,588
Schedule of Disaggregation of Revenue	Our SCS business segment included revenue from the below industries: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Automotive $ 307,499 $ 147,749 $ 579,054 $ 397,674 Technology and healthcare 109,950 84,766 207,035 175,899 Consumer packaged goods and retail 286,262 236,499 559,486 466,431 Industrial and other 71,919 50,304 136,755 107,761 Total SCS revenues $ 775,630 $ 519,318 $ 1,482,330 $ 1,147,765
Schedule of Changes in Contract Liability	The following table includes the changes in deferred revenue due to the collection and deferral of cash or the satisfaction of our performance obligation under the contract: Six months ended June 30, 2021 2020 (In thousands) Balance as of beginning of period $ 629,739 $ 603,687 Recognized as revenue during period from beginning balance (109,558) (103,089) Consideration deferred during period, net 91,456 116,524 Foreign currency translation adjustment and other 1,499 (3,150) Balance as of end of period $ 613,136 $ 613,972

RECEIVABLES, NET (Tables)

RECEIVABLES, NET (Tables)	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Schedule of Receivables, Net	June 30, 2021 December 31, 2020 (In thousands) Trade $ 1,160,076 $ 1,051,618 Sales-type leases 137,535 132,003 Other, primarily warranty and insurance 41,926 41,753 1,339,537 1,225,374 Allowance for credit losses and other (40,632) (43,024) Total $ 1,298,905 $ 1,182,350
Schedule of Allowance for Credit Loss	The following table provides a reconciliation of our allowance for credit losses and other: Six months ended June 30, 2021 2020 (In thousands) Balance as of beginning of period $ 43,024 $ 22,761 Changes to provisions for credit losses (1,076) 32,600 Impact of adoption of new accounting standard, write-offs, and other (1,316) (10,453) Balance as of end of period $ 40,632 $ 44,908

REVENUE EARNING EQUIPMENT, NET

REVENUE EARNING EQUIPMENT, NET (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue Earning Equipment [Abstract]
Schedule of Revenue Earning Equipment	Estimated Useful Lives June 30, 2021 December 31, 2020 Cost Accumulated Net Cost Accumulated Net (In years) (In thousands) Held for use: Trucks 3 — 7 $ 5,195,420 $ (1,945,096) $ 3,250,324 $ 5,061,266 $ (1,818,594) $ 3,242,672 Tractors 4 — 7.5 7,247,325 (3,040,912) 4,206,413 7,013,595 (2,853,591) 4,160,004 Trailers and other 9.5 — 12 1,765,247 (768,590) 996,657 2,046,768 (804,006) 1,242,762 Held for sale 370,339 (292,634) 77,705 644,132 (512,555) 131,577 Total $ 14,578,331 $ (6,047,232) $ 8,531,099 $ 14,765,761 $ (5,988,746) $ 8,777,015
Summary of Amounts that have been Recorded for Accelerated and Policy Depreciation related to our Residual Value Estimate Changes	The following table provides a summary of amounts that have been recorded for accelerated and policy depreciation related to our residual value and useful life estimate changes since 2019, as well as used vehicle sales results (rounded to the closest million): Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Accelerated depreciation $ 12,000 $ 77,000 $ 42,000 $ 156,000 Policy depreciation 63,000 68,000 121,000 119,000 Used vehicle sales, net (52,000) 9,000 (80,000) 30,000
Schedule of Fair Value, Assets	The following table presents our assets held for sale that are measured at fair value on a nonrecurring basis and considered a Level 3 fair value measurement: Valuation Adjustments Three months ended June 30, Six months ended June 30, June 30, 2021 December 31, 2020 (2) 2021 2020 2021 2020 (In thousands) Revenue earning equipment held for sale (1) : Trucks $ 2,209 $ 3,848 $ 684 $ 5,389 $ 1,574 $ 16,451 Tractors 1,383 2,211 575 3,035 659 11,488 Trailers and other 2,176 4,092 1,828 2,592 3,875 4,585 Total assets at fair value $ 5,768 $ 10,151 $ 3,087 $ 11,016 $ 6,108 $ 32,524 ———————————— (1) Revenue earning equipment held for sale in the table above only includes the portion where net book values exceeded fair values and valuation adjustments were recorded. The net book value of assets held for sale that were less than fair value was $72 million and $121 million as of June 30, 2021 and December 31, 2020, respectively. (2) Adjusted the presentation of the vehicles held for sale that were recorded to fair value to now exclude vehicles that previously recognized accumulated accelerated depreciation.
Schedule of Gain and Losses Revenue Earning Equipment	The components of used vehicle sales, net were as follows: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Gains on vehicle sales, net $ (54,721) $ (1,528) $ (86,593) $ (2,352) Losses from valuation adjustments 3,087 11,016 6,108 32,524 Used vehicle sales, net $ (51,634) $ 9,488 $ (80,485) $ 30,172

ACCRUED EXPENSES AND OTHER LI_2

ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2021
Accrued Liabilities and Other Liabilities [Abstract]
Schedule of Accrued Expenses and Other Liabilities	June 30, 2021 December 31, 2020 Accrued Non-Current Total Accrued Non-Current Total (In thousands) Salaries and wages $ 167,568 $ — $ 167,568 $ 158,122 $ — $ 158,122 Deferred compensation 5,613 84,975 90,588 5,117 77,823 82,940 Pension benefits 3,787 258,341 262,128 3,776 265,178 268,954 Other postretirement benefits 1,386 17,490 18,876 1,381 20,245 21,626 Other employee benefits 13,755 — 13,755 20,599 — 20,599 Insurance obligations (1) 174,582 300,086 474,668 169,936 292,298 462,234 Operating taxes (2) 174,058 41,683 215,741 164,293 41,687 205,980 Income taxes 3,133 16,326 19,459 4,588 15,598 20,186 Interest 38,129 — 38,129 38,887 — 38,887 Deposits, mainly from customers 90,349 3,014 93,363 79,840 3,014 82,854 Operating lease liabilities 80,657 172,377 253,034 78,785 186,429 265,214 Deferred revenue (3) 187,467 425,669 613,136 183,474 446,265 629,739 Restructuring liabilities 3,293 — 3,293 7,683 — 7,683 Other 77,055 51,092 128,147 72,697 55,324 128,021 Total $ 1,020,832 $ 1,371,053 $ 2,391,885 $ 989,178 $ 1,403,861 $ 2,393,039 ———————————— (1) Insurance obligations are primarily comprised of self-insured claim liabilities. (2) Operating taxes included the deferral of certain payroll taxes in current and non-current liabilities allowed under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Schedule of Lease Income - Operating	The components of lease income were as follows: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Operating leases Lease income related to ChoiceLease $ 386,650 $ 385,639 $ 776,261 $ 785,227 Lease income related to commercial rental (1) 255,098 161,220 465,382 356,915 Sales-type leases Interest income related to net investment in leases $ 11,040 $ 12,080 $ 25,455 $ 23,724 Variable lease income excluding commercial rental (1) $ 72,129 $ 58,882 $ 144,122 $ 124,389 ———————————— (1) Lease income related to commercial rental includes both fixed and variable lease income. Variable lease income is approximately 15% to 25% of total commercial rental income based on management's internal estimates.
Schedule of Lease Income - Sales Type	The components of net investment in sales-type leases, which are included in "Receivables, net" and "Sales-type leases and other assets" in the Condensed Consolidated Balance Sheets, were as follows: June 30, 2021 December 31, 2020 (In thousands) Net investment in the lease — lease payment receivable $ 589,935 $ 589,120 Net investment in the lease — unguaranteed residual value in assets 46,034 44,704 635,969 633,824 Estimated loss allowance (4,066) (4,025) Total $ 631,903 $ 629,799

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Debt	Weighted Average Interest Rate June 30, 2021 Maturities June 30, December 31, (In thousands) Debt: U.S. commercial paper 0.19% 2023 $ 55,522 $ 214,375 Canadian commercial paper 0.30% 2023 25,004 62,800 Trade receivables program —% 2022 — — Global revolving credit facility —% 2023 — 200 Unsecured U.S. obligations 3.47% 2024 200,000 200,000 Unsecured U.S. notes — Medium-term notes (1) 3.41% 2021-2026 5,152,922 5,174,180 Unsecured foreign obligations 1.87% 2022-2024 167,182 254,259 Asset-backed U.S. obligations (2) 2.56% 2021-2026 611,275 682,383 Finance lease obligations and other 2021-2073 45,762 48,418 6,257,667 6,636,615 Debt issuance costs and original issue discounts (21,996) (26,379) Total debt 6,235,671 6,610,236 Short-term debt and current portion of long-term debt (1,362,669) (516,581) Long-term debt $ 4,873,002 $ 6,093,655 ———————————— (1) Included the impact from the fair market values of hedging instruments on our notes, which were not material as of June 30, 2021 and December 31, 2020. The notional amount of interest rate swaps designated as fair value hedges was $150 million as of June 30, 2021 and December 31, 2020. (2) Asset-backed U.S. obligations are related to financing transactions backed by a portion of our revenue earning equipment.

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss, Net of Tax	The following summary sets forth the components of accumulated other comprehensive loss, net of tax: Six months ended June 30, 2021 2020 (In thousands) Cumulative translation adjustments $ (132,115) $ (228,121) Net actuarial loss and prior service cost (644,008) (658,866) Unrealized gain (loss) from cash flow hedges (11,559) (17,653) Accumulated other comprehensive loss $ (787,682) $ (904,640)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Common Share From Continuing Operations	The following table presents the calculation of basic and diluted earnings per common share from continuing operations: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands, except per share amounts) Earnings (loss) from continuing operations $ 149,568 $ (73,705) $ 201,152 $ (182,834) Less: Distributed and undistributed earnings allocated to unvested stock (703) (130) (940) (248) Earnings (loss) from continuing operations available to common shareholders $ 148,865 $ (73,835) $ 200,212 $ (183,082) Weighted average common shares outstanding — Basic 52,378 52,355 52,333 52,320 Effect of dilutive equity awards 1,213 — 1,039 — Weighted average common shares outstanding — Diluted 53,591 52,355 53,372 52,320 Earnings (loss) from continuing operations per common share — Basic $ 2.84 $ (1.41) $ 3.83 $ (3.50) Earnings (loss) from continuing operations per common share — Diluted $ 2.78 $ (1.41) $ 3.75 $ (3.50) Anti-dilutive equity awards not included in diluted EPS 417 3,612 958 3,498

SHARE-BASED COMPENSATION PLANS

SHARE-BASED COMPENSATION PLANS (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense and Income Tax Benefits Recognized During the Periods	The following table provides information on share-based compensation expense and income tax benefit recognized: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Stock option and stock purchase plans $ 636 $ 1,052 $ 1,637 $ 2,409 Unvested stock awards 11,981 6,487 21,657 8,221 Share-based compensation expense 12,617 7,539 23,294 10,630 Income tax benefit (1,981) (1,307) (3,513) (1,485) Share-based compensation expense, net of tax $ 10,636 $ 6,232 $ 19,781 $ 9,145
Schedule of Share-based Compensation, Activity	The following table is a summary of the awards granted in the annual equity award process in the first quarter of 2021: Shares Granted Weighted-Average (Shares in thousands) Time-vested restricted stock rights 391 $ 64.89 Performance-based restricted stock rights 119 67.11 Total 510 $ 65.41

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	6 Months Ended
	Jun. 30, 2021
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Benefit Cost	Components of net pension expense were as follows: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Company-administered plans: Service cost $ 180 $ 2,741 $ 548 $ 5,954 Interest cost 14,483 17,353 29,018 34,885 Expected return on plan assets (21,791) (23,948) (43,485) (48,211) Amortization of net actuarial loss and prior service cost 7,031 7,622 14,128 15,524 (97) 3,768 209 8,152 Multi-employer plans 2,539 2,798 5,180 5,577 Net pension expense $ 2,442 $ 6,566 $ 5,389 $ 13,729 Company-administered plans: U.S. $ 2,090 $ 6,055 $ 4,453 $ 12,833 Non-U.S. (2,187) (2,287) (4,244) (4,681) (97) 3,768 209 8,152 Multi-employer plans 2,539 2,798 5,180 5,577 Net pension expense $ 2,442 $ 6,566 $ 5,389 $ 13,729

OTHER ITEMS IMPACTING COMPARA_2

OTHER ITEMS IMPACTING COMPARABILITY (Tables)	6 Months Ended
	Jun. 30, 2021
Other Income and Expenses [Abstract]
Schedule of Other Items Impacting Comparability	Excluding these items from our segment measure of performance allows for better year over year comparison: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Restructuring and other, net $ 2,577 $ 26,168 $ 5,605 $ 46,789 ERP implementation costs 5,090 11,032 12,721 21,358 Restructuring and other items, net 7,667 37,200 18,326 68,147 Gains on sale of properties (35,263) — (36,768) — ChoiceLease liability insurance revenue (1) — (7,409) (777) (16,767) Other items impacting comparability, net $ (27,596) $ 29,792 $ (19,219) $ 51,381 ———————————— (1) Refer to Note 18, "Segment Reporting," for additional information. Note: Amounts may not be additive due to rounding.

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	Six months ended June 30, 2021 2020 (In thousands) Interest paid $ 104,417 $ 123,258 Income taxes paid 15,812 4,997 Right-of-use assets obtained in exchange for lease obligations: Finance leases $ 5,622 $ 5,511 Operating leases 30,274 52,640 Capital expenditures acquired but not yet paid $ 167,587 $ 75,576

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of Financial Information of Business Segments	The following table sets forth financial information for each of our segments and provides a reconciliation between segment EBT and earnings (loss) from continuing operations before income taxes: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Revenue: Fleet Management Solutions: ChoiceLease $ 802,832 $ 766,161 $ 1,599,920 $ 1,558,367 SelectCare 136,503 125,851 267,171 261,997 Commercial rental 266,969 169,171 489,978 374,937 Other 18,369 12,332 35,717 35,758 Fuel services revenue 183,568 117,253 350,163 290,588 ChoiceLease liability insurance revenue (1) — 7,409 777 16,767 Fleet Management Solutions 1,408,241 1,198,177 2,743,726 2,538,414 Supply Chain Solutions 775,630 519,318 1,482,330 1,147,765 Dedicated Transportation Solutions 354,711 293,944 675,218 628,832 Eliminations (2) (156,345) (116,157) (297,415) (258,423) Total revenue $ 2,382,237 $ 1,895,282 $ 4,603,859 $ 4,056,588 Earnings (loss) from continuing operations before taxes: Fleet Management Solutions $ 158,451 $ (103,735) $ 221,853 $ (218,309) Supply Chain Solutions 41,041 36,916 73,998 67,941 Dedicated Transportation Solutions 13,162 21,233 26,144 33,413 Eliminations (19,186) (7,745) (31,460) (17,814) 193,468 (53,331) 290,535 (134,769) Unallocated Central Support Services (17,864) (10,718) (36,296) (20,104) Non-operating pension costs, net (3) 373 (936) 382 (2,157) Other items impacting comparability, net (4) 27,596 (29,792) 19,219 (51,381) Earnings (loss) from continuing operations before income taxes $ 203,573 $ (94,777) $ 273,840 $ (208,411) ———————————— (1) In the first quarter of 2020, we announced our plan to exit the extension of our liability insurance coverage for ChoiceLease customers. The exit of this program was completed in the first quarter of 2021. (2) Represents the elimination of intercompany revenues in our FMS business segment. (3) Refer to Note 14, "Employee Benefit Plans," for a discussion on this item. (4) Refer to Note 15, “Other Items Impacting Comparability,” for a discussion of items excluded from our primary measure of segment performance. The following table sets forth the capital expenditures paid for each of our segments: Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (In thousands) Fleet Management Solutions $ 503,874 $ 256,216 $ 871,582 $ 679,332 Supply Chain Solutions 14,450 13,868 22,980 19,874 Dedicated Transportation Solutions 256 339 562 763 Central Support Services 4,768 3,547 9,275 4,961 Purchases of property and revenue earning equipment $ 523,348 $ 273,970 $ 904,399 $ 704,930

GENERAL (Details)

GENERAL (Details)	6 Months Ended
	Jun. 30, 2021segment
Accounting Changes and Error Corrections [Abstract]
Number of segments	3

REVENUE Disaggregation of Reven

REVENUE Disaggregation of Revenue - Geographical (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 2,382,237	$ 1,895,282	$ 4,603,859	$ 4,056,588
United States
Disaggregation of Revenue [Line Items]
Revenues	2,131,624	1,703,799	4,114,686	3,621,438
Canada
Disaggregation of Revenue [Line Items]
Revenues	127,291	97,536	249,449	216,882
Europe
Disaggregation of Revenue [Line Items]
Revenues	68,142	56,249	135,230	128,200
Mexico
Disaggregation of Revenue [Line Items]
Revenues	55,180	37,698	104,494	90,068
SCS
Disaggregation of Revenue [Line Items]
Revenues	775,630	519,318	1,482,330	1,147,765
Operating Segments | FMS
Disaggregation of Revenue [Line Items]
Revenues	1,408,241	1,198,177	2,743,726	2,538,414
Operating Segments | FMS | United States
Disaggregation of Revenue [Line Items]
Revenues	1,263,250	1,081,448	2,461,234	2,278,969
Operating Segments | FMS | Canada
Disaggregation of Revenue [Line Items]
Revenues	76,849	60,480	147,262	131,245
Operating Segments | FMS | Europe
Disaggregation of Revenue [Line Items]
Revenues	68,142	56,249	135,230	128,200
Operating Segments | FMS | Mexico
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating Segments | SCS
Disaggregation of Revenue [Line Items]
Revenues	775,630	519,318	1,482,330	1,147,765
Operating Segments | SCS | United States
Disaggregation of Revenue [Line Items]
Revenues	661,715	441,332	1,263,013	963,857
Operating Segments | SCS | Canada
Disaggregation of Revenue [Line Items]
Revenues	58,735	40,288	114,823	93,840
Operating Segments | SCS | Europe
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating Segments | SCS | Mexico
Disaggregation of Revenue [Line Items]
Revenues	55,180	37,698	104,494	90,068
Operating Segments | DTS
Disaggregation of Revenue [Line Items]
Revenues	354,711	293,944	675,218	628,832
Operating Segments | DTS | United States
Disaggregation of Revenue [Line Items]
Revenues	354,711	293,944	675,218	628,832
Operating Segments | DTS | Canada
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating Segments | DTS | Europe
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating Segments | DTS | Mexico
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Eliminations
Disaggregation of Revenue [Line Items]
Revenues	(156,345)	(116,157)	(297,415)	(258,423)
Eliminations | United States
Disaggregation of Revenue [Line Items]
Revenues	(148,052)	(112,925)	(284,779)	(250,220)
Eliminations | Canada
Disaggregation of Revenue [Line Items]
Revenues	(8,293)	(3,232)	(12,636)	(8,203)
Eliminations | Europe
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Eliminations | Mexico
Disaggregation of Revenue [Line Items]
Revenues	$ 0	$ 0	$ 0	$ 0

REVENUE Disaggregation of Rev_2

REVENUE Disaggregation of Revenue - Industry (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 2,382,237	$ 1,895,282	$ 4,603,859	$ 4,056,588
SCS
Disaggregation of Revenue [Line Items]
Revenues	775,630	519,318	1,482,330	1,147,765
Automotive | SCS
Disaggregation of Revenue [Line Items]
Revenues	307,499	147,749	579,054	397,674
Technology and healthcare | SCS
Disaggregation of Revenue [Line Items]
Revenues	109,950	84,766	207,035	175,899
Consumer packaged goods and retail | SCS
Disaggregation of Revenue [Line Items]
Revenues	286,262	236,499	559,486	466,431
Industrial and other | SCS
Disaggregation of Revenue [Line Items]
Revenues	$ 71,919	$ 50,304	$ 136,755	$ 107,761

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Lease & related maintenance and rental revenues	$ 986,694	$ 868,660	$ 1,927,116	$ 1,796,416
Contracted not recognized revenue	2,500,000		2,500,000
Maintenance Services
Disaggregation of Revenue [Line Items]
Lease & related maintenance and rental revenues	$ 260,000	$ 238,000	$ 510,000	$ 478,000

REVENUE - Changes in Contract L

REVENUE - Changes in Contract Liability (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Balance as of beginning of period	$ 629,739	$ 603,687
Recognized as revenue during period from beginning balance	(109,558)	(103,089)
Consideration deferred during period, net	91,456	116,524
Foreign currency translation adjustment and other	1,499	(3,150)
Balance as of end of period	$ 613,136	$ 613,972

RECEIVABLES, NET - Summary (Det

RECEIVABLES, NET - Summary (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Receivables [Abstract]
Trade	$ 1,160,076	$ 1,051,618
Sales-type leases	137,535	132,003
Other, primarily warranty and insurance	41,926	41,753
Receivables, gross	1,339,537	1,225,374
Allowance for credit losses and other	(40,632)	(43,024)
Total	$ 1,298,905	$ 1,182,350

RECEIVABLES, NET - Allowance fo

RECEIVABLES, NET - Allowance for Credit Loss (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of beginning of period	$ 43,024	$ 22,761
Changes to provisions for credit losses	(1,076)	32,600
Impact of adoption of new accounting standard, write-offs, and other	(1,316)	(10,453)
Balance as of end of period	$ 40,632	$ 44,908

REVENUE EARNING EQUIPMENT, NE_2

REVENUE EARNING EQUIPMENT, NET - Schedule of Revenue Earning Equipment (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Revenue Earning Equipment [Line Items]
Cost	$ 14,578,331	$ 14,765,761
Accumulated Depreciation	(6,047,232)	(5,988,746)
Net Book Value	$ 8,531,099	8,777,015
Trucks
Revenue Earning Equipment [Line Items]
Estimated useful life, minimum	3 years
Estimated useful life, maximum	7 years
Cost	$ 5,195,420	5,061,266
Accumulated Depreciation	(1,945,096)	(1,818,594)
Net Book Value	$ 3,250,324	3,242,672
Tractors
Revenue Earning Equipment [Line Items]
Estimated useful life, minimum	4 years
Estimated useful life, maximum	7 years 6 months
Cost	$ 7,247,325	7,013,595
Accumulated Depreciation	(3,040,912)	(2,853,591)
Net Book Value	$ 4,206,413	4,160,004
Trailers and other
Revenue Earning Equipment [Line Items]
Estimated useful life, minimum	9 years 6 months
Estimated useful life, maximum	12 years
Cost	$ 1,765,247	2,046,768
Accumulated Depreciation	(768,590)	(804,006)
Net Book Value	996,657	1,242,762
Held for sale
Revenue Earning Equipment [Line Items]
Cost	370,339	644,132
Accumulated Depreciation	(292,634)	(512,555)
Net Book Value	$ 77,705	$ 131,577

REVENUE EARNING EQUIPMENT, NE_3

REVENUE EARNING EQUIPMENT, NET - Narrative (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Revenue Earning Equipment [Line Items]
Percentage of impacted on fleet by adjusted of residual values and useful lives, revenue earning equipment	15.00%
Minimum
Revenue Earning Equipment [Line Items]
Revenue earning equipment, residual value life		12 months
Maximum
Revenue Earning Equipment [Line Items]
Revenue earning equipment, residual value life		24 months

REVENUE EARNING EQUIPMENT, NE_4

REVENUE EARNING EQUIPMENT, NET - Summary of Accelerated and Policy Depreciation, Residual Value Estimate Changes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue Earning Equipment [Abstract]
Accelerated depreciation	$ 12,000	$ 77,000	$ 42,000	$ 156,000
Policy depreciation	63,000	68,000	121,000	119,000
Used vehicle sales, net	$ (51,634)	$ 9,488	$ (80,485)	$ 30,172

REVENUE EARNING EQUIPMENT, NE_5

REVENUE EARNING EQUIPMENT, NET - Level 3 Fair Value Measurement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Revenue Earning Equipment [Line Items]
Valuation adjustments	$ 3,087	$ 11,016	$ 6,108	$ 32,524
Net book value of assets held for sale	72,000		72,000		$ 121,000
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring
Revenue Earning Equipment [Line Items]
Assets held for sale	5,768		5,768		10,151
Valuation adjustments	3,087	11,016	6,108	32,524
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring | Trucks
Revenue Earning Equipment [Line Items]
Assets held for sale	2,209		2,209		3,848
Valuation adjustments	684	5,389	1,574	16,451
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring | Tractors
Revenue Earning Equipment [Line Items]
Assets held for sale	1,383		1,383		2,211
Valuation adjustments	575	3,035	659	11,488
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring | Trailers and other
Revenue Earning Equipment [Line Items]
Assets held for sale	2,176		2,176		$ 4,092
Valuation adjustments	$ 1,828	$ 2,592	$ 3,875	$ 4,585

REVENUE EARNING EQUIPMENT, NE_6

REVENUE EARNING EQUIPMENT, NET - Recognized Gains on Used Vehicles (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue Earning Equipment [Abstract]
Gains on vehicle sales, net	$ (54,721)	$ (1,528)	$ (86,593)	$ (2,352)
Losses from valuation adjustments	3,087	11,016	6,108	32,524
Used vehicle sales, net	$ (51,634)	$ 9,488	$ (80,485)	$ 30,172

ACCRUED EXPENSES AND OTHER LI_3

ACCRUED EXPENSES AND OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Accrued Expenses
Salaries and wages	$ 167,568	$ 158,122
Deferred compensation	5,613	5,117
Pension benefits	3,787	3,776
Other postretirement benefits	1,386	1,381
Other employee benefits	13,755	20,599
Insurance obligations	174,582	169,936
Operating taxes	174,058	164,293
Income taxes	3,133	4,588
Interest	38,129	38,887
Deposits, mainly from customers	90,349	79,840
Operating lease liabilities	80,657	78,785
Deferred revenue	187,467	183,474
Restructuring liabilities	3,293	7,683
Other	77,055	72,697
Total	1,020,832	989,178
Non-Current Liabilities
Salaries and wages	0	0
Deferred compensation	84,975	77,823
Pension benefits	258,341	265,178
Other postretirement benefits	17,490	20,245
Other employee benefits	0	0
Insurance obligations	300,086	292,298
Operating taxes	41,683	41,687
Income taxes	16,326	15,598
Interest	0	0
Deposits, mainly from customers	3,014	3,014
Operating lease liabilities	172,377	186,429
Deferred revenue	425,669	446,265
Restructuring liabilities	0	0
Other	51,092	55,324
Total	1,371,053	1,403,861
Total
Salaries and wages	167,568	158,122
Deferred compensation	90,588	82,940
Pension benefits	262,128	268,954
Other postretirement benefits	18,876	21,626
Other employee benefits	13,755	20,599
Insurance obligations	474,668	462,234
Operating taxes	215,741	205,980
Income taxes	19,459	20,186
Interest	38,129	38,887
Deposits, mainly from customers	93,363	82,854
Operating lease liabilities	253,034	265,214
Deferred revenue	613,136	629,739	$ 613,972	$ 603,687
Restructuring liabilities	3,293	7,683
Other	128,147	128,021
Total	$ 2,391,885	$ 2,393,039

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Contingency [Line Items]
Effective income tax rate from continuing operations, expense (benefit)	26.50%	22.20%	26.50%	12.30%
Charge related to expiring state net operating losses				$ 7
Foreign Tax Authority
Income Tax Contingency [Line Items]
Valuation allowance recorded				$ 13

LEASES - Lease Income (Details)

LEASES - Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Operating leases
Lease income related to ChoiceLease	$ 386,650	$ 385,639	$ 776,261	$ 785,227
Lease income related to commercial rental	255,098	161,220	465,382	356,915
Sales-type leases
Interest income related to net investment in leases	11,040	12,080	25,455	23,724
Variable lease income excluding commercial rental	$ 72,129	$ 58,882	$ 144,122	$ 124,389
Minimum
Sales-type leases
Variable lease income as a percent of commercial rental income			15.00%
Maximum
Sales-type leases
Variable lease income as a percent of commercial rental income			25.00%

LEASES - Components of Net Inve

LEASES - Components of Net Investment in Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Net investment in the lease — lease payment receivable	$ 589,935	$ 589,120
Net investment in the lease — unguaranteed residual value in assets	46,034	44,704
Net investment in the lease, gross	635,969	633,824
Estimated loss allowance	(4,066)	(4,025)
Total	$ 631,903	$ 629,799

DEBT - Schedule of Debt (Detail

DEBT - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt:
Debt, gross	$ 6,257,667	$ 6,636,615
Debt issuance costs and original issue discounts	(21,996)	(26,379)
Total debt	6,235,671	6,610,236
Short-term debt and current portion of long-term debt	(1,362,669)	(516,581)
Long-term debt	4,873,002	6,093,655
Interest Rate Swap | Fair Value Hedging | Designated as Hedging Instrument
Debt:
Aggregate notional amount of interest rate swaps	$ 150,000	150,000
U.S. commercial paper
Debt:
Weighted Average Interest Rate	0.19%
Debt, gross	$ 55,522	214,375
Canadian commercial paper
Debt:
Weighted Average Interest Rate	0.30%
Debt, gross	$ 25,004	62,800
Trade receivables program
Debt:
Weighted Average Interest Rate	0.00%
Debt, gross	$ 0	0
Global revolving credit facility
Debt:
Weighted Average Interest Rate	0.00%
Debt, gross	$ 0	200
Unsecured U.S. obligations
Debt:
Weighted Average Interest Rate	3.47%
Debt, gross	$ 200,000	200,000
Unsecured U.S. notes — Medium-term notes
Debt:
Weighted Average Interest Rate	3.41%
Debt, gross	$ 5,152,922	5,174,180
Unsecured foreign obligations
Debt:
Weighted Average Interest Rate	1.87%
Debt, gross	$ 167,182	254,259
Asset-backed U.S. obligations
Debt:
Weighted Average Interest Rate	2.56%
Debt, gross	$ 611,275	682,383
Finance lease obligations and other
Debt:
Debt, gross	$ 45,762	$ 48,418

DEBT - Narrative (Details)

DEBT - Narrative (Details)	Jul. 28, 2021USD ($)	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Fair value of total debt		$ 5,900,000,000	$ 6,300,000,000
Available proceeds under program		300,000,000
Letters of credit and surety bonds outstanding		$ 458,000,000	$ 519,000,000
Maximum
Debt Instrument [Line Items]
Ratio of debt to consolidated net worth		3
Global revolving credit facility
Debt Instrument [Line Items]
Debt to consolidated tangible net worth ratio		1.77
Global revolving credit facility | Letter of Credit
Debt Instrument [Line Items]
Line of credit remaining capacity		$ 1,300,000,000
Medium Term Notes due November 15, 2021 | Subsequent Event
Debt Instrument [Line Items]
Debt issued	$ 300,000,000
Debt percentage of principal amount	3.45%

SHARE REPURCHASE PROGRAMS (Deta

SHARE REPURCHASE PROGRAMS (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2019
Accelerated Share Repurchases [Line Items]
Common stock repurchases	$ 29,534	$ 48,978	$ 11,924
Common Stock
Accelerated Share Repurchases [Line Items]
Repurchased and retired shares (in shares)	350,044	638,001	303,098
Common stock repurchases	$ 175	$ 319	$ 152
2019 Share Repurchase Program | Common Stock
Accelerated Share Repurchases [Line Items]
Maximum number of share repurchases authorization (in shares)				1,500,000

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Shareholders' equity	$ 2,418,214	$ 2,279,687	$ 2,255,557	$ 2,159,092	$ 2,242,736	$ 2,476,310
Cumulative translation adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Shareholders' equity	(132,115)			(228,121)
Net actuarial loss and prior service cost
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Shareholders' equity	(644,008)			(658,866)
Unrealized gain (loss) from cash flow hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Shareholders' equity	(11,559)			(17,653)
Accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Shareholders' equity	$ (787,682)	$ (802,767)	$ (817,205)	$ (904,640)	$ (914,945)	$ (836,491)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Calculation of basic and diluted earnings per common share from continuing operations
Earnings (loss) from continuing operations	$ 149,568	$ (73,705)	$ 201,152	$ (182,834)
Less: Distributed and undistributed earnings allocated to unvested stock	(703)	(130)	(940)	(248)
Earnings (loss) from continuing operations available to common shareholders	$ 148,865	$ (73,835)	$ 200,212	$ (183,082)
Weighted average common shares outstanding - Basic (in shares)	52,378	52,355	52,333	52,320
Effect of dilutive equity awards (in shares)	1,213	0	1,039	0
Weighted average common shares outstanding — Diluted (in shares)	53,591	52,355	53,372	52,320
Earnings (loss) from continuing operations per common share — Basic (in dollars per share)	$ 2.84	$ (1.41)	$ 3.83	$ (3.50)
Earnings (loss) from continuing operations per common share - Diluted (in dollars per share)	$ 2.78	$ (1.41)	$ 3.75	$ (3.50)
Anti-dilutive equity awards not included in diluted EPS (in shares)	417	3,612	958	3,498

SHARE-BASED COMPENSATION PLAN_2

SHARE-BASED COMPENSATION PLANS - Share-Based Compensation Expense and Income Tax Benefits Recognized During the Periods (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 12,617	$ 7,539	$ 23,294	$ 10,630
Income tax benefit	(1,981)	(1,307)	(3,513)	(1,485)
Share-based compensation expense, net of tax	10,636	6,232	19,781	9,145
Stock option and stock purchase plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	636	1,052	1,637	2,409
Unvested stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 11,981	$ 6,487	$ 21,657	$ 8,221

SHARE-BASED COMPENSATION PLAN_3

SHARE-BASED COMPENSATION PLANS - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Share-based Payment Arrangement [Abstract]
Compensation cost not yet recognized	$ 64
Compensation cost not yet recognized, period for recognition	2 years 1 month 6 days
Vesting period	3 years

SHARE-BASED COMPENSATION PLAN_4

SHARE-BASED COMPENSATION PLANS - Summary of Awards Granted in Period (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Granted (in shares) | shares	510
Weighted-Average Fair Market Value (in dollars per share) | $ / shares	$ 65.41
Time-vested restricted stock rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Granted (in shares) | shares	391
Weighted-Average Fair Market Value (in dollars per share) | $ / shares	$ 64.89
Performance-based restricted stock rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Granted (in shares) | shares	119
Weighted-Average Fair Market Value (in dollars per share) | $ / shares	$ 67.11

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Contribution to pension plans			$ 2,000
Expected plan contributions	$ 7,000		7,000
Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total	2,442	$ 6,566	5,389	$ 13,729
Pension Plan | Company-administered plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	180	2,741	548	5,954
Interest cost	14,483	17,353	29,018	34,885
Expected return on plan assets	(21,791)	(23,948)	(43,485)	(48,211)
Amortization of net actuarial loss and prior service cost	7,031	7,622	14,128	15,524
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total	(97)	3,768	209	8,152
Pension Plan | Company-administered plans | U.S.
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total	2,090	6,055	4,453	12,833
Pension Plan | Company-administered plans | Non-U.S.
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total	(2,187)	(2,287)	(4,244)	(4,681)
Pension Plan | Multi-employer plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total	$ 2,539	$ 2,798	$ 5,180	$ 5,577

OTHER ITEMS IMPACTING COMPARA_3

OTHER ITEMS IMPACTING COMPARABILITY - Schedule of Other Items Impacting Comparability (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Other Income and Expenses [Abstract]
Restructuring and other, net	$ 2,577	$ 26,168	$ 5,605	$ 46,789
ERP implementation costs	5,090	11,032	12,721	21,358
Restructuring and other items, net	7,667	37,200	18,326	68,147
Gains on sale of properties	(35,263)	0	(36,768)	0
Choice lease liability insurance revenue	0	(7,409)	(777)	(16,767)
Other items impacting comparability, net	$ (27,596)	$ 29,792	$ (19,219)	$ 51,381

OTHER ITEMS IMPACTING COMPARA_4

OTHER ITEMS IMPACTING COMPARABILITY - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring and other, net	$ 2,577	$ 26,168	$ 5,605	$ 46,789
Discontinued Insurance Liability Program and Shutdown of Leased Locations
Restructuring Cost and Reserve [Line Items]
Restructuring and other, net		$ 9,000		$ 24,000
Severance
Restructuring Cost and Reserve [Line Items]
Restructuring and other, net			$ 13,000

CONTINGENCIES AND OTHER MATTE_2

CONTINGENCIES AND OTHER MATTERS (Details) - complaint	Feb. 08, 2021	Feb. 02, 2021	Jan. 19, 2021	Aug. 06, 2020	Jun. 26, 2020
Commitments and Contingencies Disclosure [Abstract]
Number of shareholder derivative complaints	2	3	2	3	3

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 104,417	$ 123,258
Income taxes paid	15,812	4,997
Right-of-use assets obtained in exchange for lease obligations:
Finance leases	5,622	5,511
Operating leases	30,274	52,640
Capital expenditures acquired but not yet paid	$ 167,587	$ 75,576

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Lease & related maintenance and rental revenues	$ 986,694	$ 868,660	$ 1,927,116	$ 1,796,416
Revenues	2,382,237	1,895,282	4,603,859	4,056,588
Earnings (loss) from continuing operations before taxes	193,468	(53,331)	290,535	(134,769)
Non-operating pension costs	373	(936)	382	(2,157)
Other items impacting comparability, net	(7,667)	(37,200)	(18,326)	(68,147)
Earnings (loss) from continuing operations before income taxes	203,573	(94,777)	273,840	(208,411)
Capital expenditures paid	523,348	273,970	904,399	704,930
Supply Chain Solutions
Segment Reporting Information [Line Items]
Revenues	775,630	519,318	1,482,330	1,147,765
Operating Segments | Fleet Management Solutions
Segment Reporting Information [Line Items]
Revenues	1,408,241	1,198,177	2,743,726	2,538,414
Earnings (loss) from continuing operations before taxes	158,451	(103,735)	221,853	(218,309)
Capital expenditures paid	503,874	256,216	871,582	679,332
Operating Segments | Fleet Management Solutions | ChoiceLease
Segment Reporting Information [Line Items]
Lease & related maintenance and rental revenues	802,832	766,161	1,599,920	1,558,367
Operating Segments | Fleet Management Solutions | SelectCare
Segment Reporting Information [Line Items]
Lease & related maintenance and rental revenues	136,503	125,851	267,171	261,997
Operating Segments | Fleet Management Solutions | Commercial rental
Segment Reporting Information [Line Items]
Lease & related maintenance and rental revenues	266,969	169,171	489,978	374,937
Operating Segments | Fleet Management Solutions | Other
Segment Reporting Information [Line Items]
Lease & related maintenance and rental revenues	18,369	12,332	35,717	35,758
Operating Segments | Fleet Management Solutions | Fuel services revenue
Segment Reporting Information [Line Items]
Revenues	183,568	117,253	350,163	290,588
Operating Segments | Fleet Management Solutions | Choice lease liability insurance revenue
Segment Reporting Information [Line Items]
Revenues	0	7,409	777	16,767
Operating Segments | Supply Chain Solutions
Segment Reporting Information [Line Items]
Revenues	775,630	519,318	1,482,330	1,147,765
Earnings (loss) from continuing operations before taxes	41,041	36,916	73,998	67,941
Capital expenditures paid	14,450	13,868	22,980	19,874
Operating Segments | Dedicated Transportation Solutions
Segment Reporting Information [Line Items]
Revenues	354,711	293,944	675,218	628,832
Earnings (loss) from continuing operations before taxes	13,162	21,233	26,144	33,413
Capital expenditures paid	256	339	562	763
Eliminations
Segment Reporting Information [Line Items]
Revenues	(156,345)	(116,157)	(297,415)	(258,423)
Earnings (loss) from continuing operations before taxes	(19,186)	(7,745)	(31,460)	(17,814)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Unallocated Central Support Services	(17,864)	(10,718)	(36,296)	(20,104)
Non-operating pension costs	373	(936)	382	(2,157)
Other items impacting comparability, net	27,596	(29,792)	19,219	(51,381)
Capital expenditures paid	$ 4,768	$ 3,547	$ 9,275	$ 4,961

Uncategorized Items - r-2021063

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2018-02 [Member]