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Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2016
Investments, All Other Investments [Abstract] |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block] | The carrying amounts and estimated fair values (Level 2) of debt instruments were as follows:
|  | As of June 30, 2016 |  | As of December 31, 2015
|  | Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value
Corporate debt |  |  |  |  |  |  |
| Short-term debt and current portion of long-term debt | $ | 28 |  |  | $ | 28 |  |  | $ | 26 |  |  | $ | 26 |
| Long-term debt | 3,502 |  |  | 3,478 |  |  | 3,435 |  |  | 3,478 |
Debt under vehicle programs |  |  |  |  |  |  |
| Vehicle-backed debt due to Avis Budget Rental Car Funding | $ | 7,987 |  |  | $ | 8,070 |  |  | $ | 6,796 |  |  | $ | 6,836 |
| Vehicle-backed debt | 3,176 |  |  | 3,193 |  |  | 2,060 |  |  | 2,071 |
| Interest rate swaps and interest rate caps (a) | 2 |  |  | 2 |  |  | 4 |  |  | 4 |
__________
(a) | Derivatives in a liability position.
Schedule of Notional Amounts of Outstanding Derivative Positions | The Company held derivative instruments with absolute notional values as follows:
| As of June 30, 2016
Interest rate caps (a) | $ | 9,608 |
Interest rate swaps | 2,400 |
Foreign exchange contracts | 993 |
Commodity contracts (millions of gallons of unleaded gasoline) | 10 |
__________
(a) | Represents $7.3 billion of interest rate caps sold, partially offset by approximately $2.3 billion of interest rate caps purchased. These amounts exclude $5.0 billion of interest rate caps purchased by the Company’s Avis Budget Rental Car Funding subsidiary as it is not consolidated by the Company.
Fair Value Of Derivative Instruments | air values (Level 2) of derivative instruments were as follows:
|  | As of June 30, 2016 |  | As of December 31, 2015
|  | Fair Value, Asset Derivatives |  | Fair Value, Liability Derivatives |  | Fair Value, Asset Derivatives |  | Fair Value, Liability Derivatives
Derivatives designated as hedging instruments |  |  |  |  |  |  |
| Interest rate swaps (a) | $ | — |  |  | $ | 15 |  |  | $ | 1 |  |  | $ | 5 |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |
| Interest rate caps (b) | — |  |  | 2 |  |  | 1 |  |  | 5 |
| Foreign exchange contracts (c) | 19 |  |  | 17 |  |  | 16 |  |  | 2 |
| Commodity contracts (c) | — |  |  | — |  |  | — |  |  | 1 |
| Total | $ | 19 |  |  | $ | 34 |  |  | $ | 18 |  |  | $ | 13 |
__________ Amounts in this table exclude derivatives issued by Avis Budget Rental Car Funding; however, certain amounts related to the derivatives held by Avis Budget Rental Car Funding are included within accumulated other comprehensive income (loss).
(a) | Included in other non-current assets or other non-current liabilities.
(b) | Included in assets under vehicle programs or liabilities under vehicle programs.
(c) | Included in other current assets or other current liabilities.
Derivative Instruments, Gain (Loss) [Table Text Block] | The effects of derivatives recognized in the Company’s Consolidated Condensed Financial Statements were as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2016 |  | 2015 |  | 2016 |  | 2015
Derivatives designated as hedging instruments (a) |  |  |  |  |  |  |
| Interest rate swaps | $ | (5 | ) |  | $ | — |  |  | $ | (8 | ) |  | $ | (3 | )
| Euro-denominated notes | 7 |  |  | (11 | ) |  | (7 | ) |  | 26 |
Derivatives not designated as hedging instruments (b) |  |  |  |  |  |  |
| Interest rate caps (c) | (1 | ) |  | — |  |  | (1 | ) |  | — |
| Foreign exchange contracts (d) | 22 |  |  | (19 | ) |  | 12 |  |  | 16 |
| Commodity contracts (e) | 2 |  |  | 4 |  |  | — |  |  | 4 |
| Total | $ | 25 |  |  | $ | (26 | ) |  | $ | (4 | ) |  | $ | 43 |
__________
(a) | Recognized, net of tax, as a component of other comprehensive income (loss) within stockholders’ equity.
(b) | Gains (losses) related to derivative instruments are expected to be largely offset by (losses) gains on the underlying exposures being hedged.
(c) | For the three and six months ended June 30, 2016, included in operating expense.
(d) | For the three months ended June 30, 2016, included a $26 million gain in interest expense and a $4 million loss in operating expense and for the six months ended June 30, 2016, included a $35 million gain in interest expense and a $23 million loss in operating expense. For the three months ended June 30, 2015, included a $19 million loss in interest expense and for the six months ended June 30, 2015, included a $2 million gain in interest expense and a $14 million gain in operating expense.
(e) | Included in operating expense.

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5618551-113959 + Details
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