Are the notional values of Budget's derivative instruments absolute or relative?

According to Budget's 2025 Franchise Disclosure Document, the company holds derivative instruments with absolute notional values. These instruments primarily consist of currency exchange contracts, interest rate swaps, interest rate caps, and commodity contracts. Budget uses these derivatives as part of its strategy to manage exposure to market risks associated with fluctuations in currency exchange rates, interest rates, and fuel costs. As a matter of policy, Budget does not use derivatives for trading or speculative purposes. All derivatives are recorded at fair value either as assets or liabilities. Changes in fair value of derivatives not designated as hedging instruments are recognized currently in earnings within the same line item as the hedged item. The changes in fair value of a derivative that is designated as either a cash flow or net investment hedge is recorded as a component of accumulated other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transcript affects earnings and is presented in the same income statement line item as the earnings effect of the hedged item. Amounts related to our derivative instruments are recognized in the Consolidated Statements of Cash Flows consistent with the nature of the hedged item (principally operating activities).