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Short And Long-Term Debt Schedule of Debt (Details)
£ in Millions, $ in Millions
3 Months Ended
Mar. 31, 2016
GBP (£)
May. 03, 2016
USD ($)
Mar. 31, 2016
USD ($)
Mar. 01, 2016
USD ($)
Dec. 31, 2015
USD ($)
Oct. 23, 2015
USD ($)
Mar. 10, 2014
USD ($)
Mar. 05, 2013
USD ($)
Principal Amount                
Long-Term Debt, Gross [1]     $ 4,013          
Outstanding borrowings, securitization obligations     220   $ 247      
Unamortized Discount and Debt Issuance Costs                
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net [1]     49          
Net Amount                
Outstanding borrowings, long-term debt [1]     3,964          
Outstanding borrowings, securitization obligations     220   247      
Outstanding letters of credit     133          
LIBOR                
Net Amount                
Description of variable interest rate basis LIBOR              
ABR                
Net Amount                
Description of variable interest rate basis ABR              
Revolving Credit Facility                
Net Amount                
Outstanding letters of credit     $ 0          
Term Loan B Facility | LIBOR                
Net Amount                
Debt Instrument, Basis Spread on Variable Rate 3.00%              
Debt Instrument, Basis Spread on Variable Rate, Floor 0.75%   0.75%          
Term Loan B Facility | ABR                
Net Amount                
Debt Instrument, Basis Spread on Variable Rate 2.00%              
Debt Instrument, Basis Spread on Variable Rate, Floor 1.75%   1.75%          
Unsecured Letter of Credit Facility                
Net Amount                
Interest Rate 2.98%   2.98%          
Outstanding letters of credit     $ 80          
Synthetic Letter of Credit Facility                
Net Amount                
Interest Rate 4.25%   4.25%          
Outstanding letters of credit     $ 53   53      
Annual percentage of original principal amount for quarterly amortization payments 1.00%   1.00%          
Secured Debt | Term Loan B Facility                
Principal Amount                
Long-Term Debt, Gross     $ 1,863 [2]   1,867   $ 1,905  
Unamortized Discount and Debt Issuance Costs                
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net [2]     26          
Net Amount                
Outstanding borrowings, long-term debt     $ 1,837 [2]   1,839      
Annual percentage of original principal amount for quarterly amortization payments 1.00%   1.00%          
Secured Debt | Term Loan A Facility                
Principal Amount                
Long-Term Debt, Gross     $ 430 [3]   435 $ 435    
Unamortized Discount and Debt Issuance Costs                
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net [3]     2          
Net Amount                
Outstanding borrowings, long-term debt     $ 428 [3]   433      
Secured Debt | 2016 | Term Loan A Facility                
Net Amount                
Annual percentage of original principal amount for quarterly amortization payments 5.00%   5.00%          
Secured Debt | 2017 | Term Loan A Facility                
Net Amount                
Annual percentage of original principal amount for quarterly amortization payments 5.00%   5.00%          
Secured Debt | 2018 | Term Loan A Facility                
Net Amount                
Annual percentage of original principal amount for quarterly amortization payments 7.50%   7.50%          
Secured Debt | 2019 | Term Loan A Facility                
Net Amount                
Annual percentage of original principal amount for quarterly amortization payments 10.00%   10.00%          
Secured Debt | 2020 | Term Loan A Facility                
Net Amount                
Annual percentage of original principal amount for quarterly amortization payments 12.50%   12.50%          
Secured Debt | Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00 | Term Loan A Facility | LIBOR                
Net Amount                
Debt Instrument, Basis Spread on Variable Rate 2.25%              
Secured Debt | Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00 | Term Loan A Facility | ABR                
Net Amount                
Debt Instrument, Basis Spread on Variable Rate 1.25%              
Senior Notes | 3.375% Senior Notes                
Principal Amount                
Long-Term Debt, Gross     $ 500   500      
Unamortized Discount and Debt Issuance Costs                
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net     0          
Net Amount                
Outstanding borrowings, long-term debt     $ 500   499      
Interest Rate 3.375%   3.375%          
Senior Notes | 4.50% Senior Notes                
Principal Amount                
Long-Term Debt, Gross     $ 450   450      
Unamortized Discount and Debt Issuance Costs                
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net     15          
Net Amount                
Outstanding borrowings, long-term debt     $ 435   434      
Interest Rate 4.50%   4.50%          
Senior Notes | 5.25% Senior Notes                
Principal Amount                
Long-Term Debt, Gross     $ 550 $ 300 300      
Unamortized Discount and Debt Issuance Costs                
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net     6          
Net Amount                
Outstanding borrowings, long-term debt     $ 544   297      
Interest Rate 5.25%   5.25%          
Line of Credit | Revolving Credit Facility                
Principal Amount                
Outstanding borrowings, short-term debt, line of credit facility     $ 0 [4],[5]   200      
Net Amount                
Outstanding borrowings, short-term debt, line of credit facility     0 [4],[5]   200      
Total capacity, short-term debt, line of credit facility     815 [4],[5]     $ 815 [4],[5]   $ 475
Line of Credit Facility, Remaining Borrowing Capacity     815          
Line of Credit | Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00 | Revolving Credit Facility | LIBOR                
Net Amount                
Debt Instrument, Basis Spread on Variable Rate 2.25%              
Line of Credit | Less than or equal to 3.50 to 1.00 but greater than or equal to 2.50 to 1.00 | Revolving Credit Facility | ABR                
Net Amount                
Debt Instrument, Basis Spread on Variable Rate 1.25%              
Line of Credit | Subsequent Event | Revolving Credit Facility                
Principal Amount                
Outstanding borrowings, short-term debt, line of credit facility   $ 400            
Net Amount                
Outstanding borrowings, short-term debt, line of credit facility   400            
Line of Credit Facility, Remaining Borrowing Capacity   $ 415            
Securitization obligations                
Principal Amount                
Outstanding borrowings, securitization obligations     220   247      
Net Amount                
Outstanding borrowings, securitization obligations     220   247      
Securitization obligations | Apple Ridge Funding LLC                
Principal Amount                
Outstanding borrowings, securitization obligations     209 [6],[7]   238      
Net Amount                
Outstanding borrowings, securitization obligations     209 [6],[7]   238      
Total capacity, securitization obligations [3],[7]     325          
Debt Instrument, Unused Borrowing Capacity, Amount     116          
Securitization obligations | Cartus Financing Limited                
Principal Amount                
Outstanding borrowings, securitization obligations     11 [7],[8]   9      
Net Amount                
Outstanding borrowings, securitization obligations     11 [7],[8]   $ 9      
Total capacity, securitization obligations [3],[7]     36          
Debt Instrument, Unused Borrowing Capacity, Amount     $ 25          
Securitization obligations | Revolving Credit Facility | Cartus Financing Limited                
Net Amount                
Total capacity, securitization obligations | £ £ 20              
Securitization obligations | Working Capital Facility | Cartus Financing Limited                
Net Amount                
Total capacity, securitization obligations | £ £ 5              
[1] Not included in this table, the Company had $133 million of outstanding letters of credit at March 31, 2016, of which $53 million was under the synthetic letter of credit facility with a rate of 4.25% and $80 million was under the unsecured letter of credit facility with a rate of 2.98%.
[2] The Term Loan B provides for quarterly amortization payments totaling 1% per annum of the original principal amount. The interest rate with respect to the Term Loan B Facility is based on, at the Company’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%).
[3] The Term Loan A Facility provides for quarterly amortization payments, which commenced March 31, 2016, totaling per annum 5%, 5%, 7.5%, 10.0% and 12.5% of the original principal amount of the Term Loan A Facility in 2016, 2017, 2018, 2019 and 2020, respectively. The interest rates with respect to term loans under the new Term Loan A Facility are based on, at the Company's option, (a) adjusted LIBOR plus an additional margin or (b) ABR plus an additional margin, in each case subject to adjustment based on the then current senior secured leverage ratio. Based on the December 31, 2015 senior secured leverage ratio, the LIBOR margin was 2.25% and the ABR margin was 1.25%.
[4] As of March 31, 2016, the Company had $815 million of borrowing capacity under its Revolving Credit Facility leaving $815 million of available capacity. On May 3, 2016, the Company had $400 million outstanding borrowings on the Revolving Credit Facility and no outstanding letters of credit on such facility, leaving $415 million of available capacity. The increase in outstanding borrowings compared to March 31, 2016 was a result of the repayment of the 3.375% Senior Notes at maturity on May 2, 2016.
[5] Interest rates with respect to revolving loans under the Term Loan A Facility at March 31, 2016 were based on, at the Company's option, (a) adjusted LIBOR plus an additional margin or (b) ABR plus an additional margin, in each case subject to adjustment based on the then current senior secured leverage ratio. Based on the December 31, 2015 senior secured leverage ratio, the LIBOR margin was 2.25% and the ABR margin was 1.25%.
[6] As of March 31, 2016, the Company had $325 million of borrowing capacity under the Apple Ridge Funding LLC securitization program leaving $116 million of available capacity.
[7] Available capacity is subject to maintaining sufficient relocation related assets to collateralize these securitization obligations.
[8] Consists of a £20 million revolving loan facility and a £5 million working capital facility. As of March 31, 2016, the Company had $36 million of borrowing capacity under the Cartus Financing Limited securitization program leaving $25 million of available capacity.