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Short And Long-Term Debt (Tables) | 9 Months Ended
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Sep. 30, 2015
Debt Disclosure [Abstract] |
Schedule of Total Indebtedness | Total indebtedness is as follows:
| September 30, 2015 |  | December 31, 2014
Senior Secured Credit Facility: |  |  |
Revolving Credit Facility | $ | — |  |  | $ | — |
Term Loan B Facility | 1,858 |  |  | 1,871 |
7.625% First Lien Notes | 593 |  |  | 593 |
9.00% First and a Half Lien Notes | 196 |  |  | 196 |
3.375% Senior Notes | 500 |  |  | 500 |
4.50% Senior Notes | 450 |  |  | 450 |
5.25% Senior Notes | 300 |  |  | 300 |
Total Short & Long-Term Debt | $ | 3,897 |  |  | $ | 3,910 |
Securitization Obligations: |  |  |
Apple Ridge Funding LLC | $ | 325 |  |  | $ | 255 |
Cartus Financing Limited | 10 |  |  | 14 |
Total Securitization Obligations | $ | 335 |  |  | $ | 269 |
Schedule of Debt | As of September 30, 2015, the total capacity, outstanding borrowings and available capacity under the Company’s borrowing arrangements were as follows:
| Interest Rate |  | Expiration Date |  | Total Capacity |  | Outstanding Borrowings |  | Available Capacity
Senior Secured Credit Facility: |  |  |  |  |  |  |  |  |
Revolving Credit Facility (1) | (2) |  | March 2018 |  | $ | 475 |  |  | $ | — |  |  | $ | 475 |
Term Loan B Facility | (3) |  | March 2020 |  | 1,872 |  |  | 1,858 |  |  | — |
First Lien Notes (1) | 7.625% |  | January 2020 |  | 593 |  |  | 593 |  |  | — |
First and a Half Lien Notes | 9.00% |  | January 2020 |  | 196 |  |  | 196 |  |  | — |
Senior Notes | 3.375% |  | May 2016 |  | 500 |  |  | 500 |  |  | — |
Senior Notes | 4.50% |  | April 2019 |  | 450 |  |  | 450 |  |  | — |
Senior Notes | 5.25% |  | December 2021 |  | 300 |  |  | 300 |  |  | — |
Securitization obligations: (4) |  |  |  |  |  |  |  |  |
Apple Ridge Funding LLC (5) |  |  | June 2016 |  | 375 |  |  | 325 |  |  | 50 |
Cartus Financing Limited (6) |  |  | August 2016 |  | 38 |  |  | 10 |  |  | 28 |
Total (7) | $ | 4,799 |  |  | $ | 4,232 |  |  | $ | 553 |
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(1) | See Note 11, "Subsequent Events" for a description of the October 2015 amendment of the Senior Secured Revolving Credit Facility and entry into a new Senior Secured Term Loan A Facility. The net proceeds of the Term Loan A Facility together with revolver borrowings were used to discharge the First Lien Notes in October 2015. As of November 3, 2015, after giving effect to the amendment of the facility, the Company had no outstanding borrowings on the Revolving Credit Facility, leaving $815 million of available capacity.
(2) | Interest rates with respect to revolving loans under the Senior Secured Credit Facility at September 30, 2015 were based on, at Realogy Group’s option, (a) adjusted LIBOR plus 2.75% or (b) JPMorgan Chase Bank, N.A.'s prime rate ("ABR") plus 1.75%.
(3) | Consists of a $1,872 million Term Loan B, less a discount of $14 million. There is 1% per annum amortization of principal. The interest rate with respect to the Term Loan B Facility is based on, at Realogy Group’s option, (a) adjusted LIBOR plus 3.00% (with a LIBOR floor of 0.75%) or (b) JPMorgan Chase Bank, N.A.’s prime rate ("ABR") plus 2.00% (with an ABR floor of 1.75%).
(4) | Available capacity is subject to maintaining sufficient relocation related assets to collateralize these securitization obligations.
(5) | In June 2015, Realogy Group amended the existing Apple Ridge Funding LLC securitization program utilized by Cartus. The capacity under the facility was temporarily increased from $325 million to $375 million from June 2015 until October 2015, at which time the capacity was reduced to $325 million.
(6) | Consists of a £20 million revolving loan facility and a £5 million working capital facility.
(7) | Not included in this table, the Company had $135 million of outstanding letters of credit at September 30, 2015, of which $53 million was under the synthetic letter of credit facility with a rate of 4.25% and $82 million was under the unsecured letter of credit facility with a rate of 2.98%.
Schedule of Maturities of Long-term Debt [Table Text Block] |
Year |  | Amount
Remaining 2015 |  | $ | 5 |
2016 |  | 519 |
2017 |  | 19 |
2018 |  | 19 |
2019 |  | 469 |

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