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Short And Long-Term Debt Schedule of Total Indebtedness (Details) - USD ($)
$ in Millions
Jun. 30, 2017
Dec. 31, 2016
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Outstanding borrowings, long-term debt [1] $ 3,706  
Debt, Long-term and Short-term, Combined Amount 3,483 $ 3,507
Securitization obligations 223 205
Secured Debt | Term Loan B    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Outstanding borrowings, long-term debt 1,067 [2] 1,069
Secured Debt | Term Loan A    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Outstanding borrowings, long-term debt 401 [3] 411
Secured Debt | Term Loan A-1    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Outstanding borrowings, long-term debt [4] 343 347
Senior Notes | 4.50% Senior Notes    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Outstanding borrowings, long-term debt 441 439
Senior Notes | 5.25% Senior Notes    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Outstanding borrowings, long-term debt 545 545
Senior Notes | 4.875% Senior Notes    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Outstanding borrowings, long-term debt 496 496
Line of Credit | Revolving Credit Facility    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Line of credit facility outstanding 190 [5],[6] 200
Securitization obligations    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Securitization obligations 223 205
Securitization obligations | Apple Ridge Funding LLC    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Securitization obligations 211 [7],[8] 192
Securitization obligations | Cartus Financing Limited    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Securitization obligations $ 12 [7],[9] $ 13
[1] Not included in this table, the Company had $124 million of outstanding letters of credit at June 30, 2017 under the Unsecured Letter of Credit Facility with a weighted average rate of 2.93%. At June 30, 2017, the capacity of the facility was $131 million.
[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 term loans under the Term Loan B is based on, at the Company’s option, (a) adjusted LIBOR plus 2.25% (with a LIBOR floor of 0.75%) or (b) JPMorgan Chase Bank, N.A.’s prime rate ("ABR") plus 1.25% (with an ABR floor of 1.75%).
[3] The Term Loan A 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 in 2016, 2017, 2018, 2019 and 2020, respectively. The interest rates with respect to term loans under the Term Loan A 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 previous quarter senior secured leverage ratio, the LIBOR margin was 2.00% and the ABR margin was 1.00% for the three months ended June 30, 2017.
[4] The Term Loan A-1 provides for quarterly amortization payments, which commenced on September 30, 2016, totaling per annum 2.5%, 2.5%, 5%, 7.5% and 10.0% of the original principal amount of the Term Loan A-1, with the last amortization payment made on June 30, 2021. The interest rates with respect to term loans under the Term Loan A-1 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 previous quarter senior secured leverage ratio, the LIBOR margin was 2.00% and the ABR margin was 1.00% for the three months ended June 30, 2017.
[5] As of June 30, 2017, the Company had $1,050 million of borrowing capacity under its Revolving Credit Facility, leaving $860 million of available capacity. The revolving credit facility expires in October 2020, but is classified on the balance sheet as current due to the revolving nature of the facility. On August 1, 2017, the Company had $140 million in outstanding borrowings under the Revolving Credit Facility, leaving $910 million of available capacity.
[6] Interest rates with respect to revolving loans under the Senior Secured Credit Facility at June 30, 2017 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 previous quarter senior secured leverage ratio, the LIBOR margin was 2.00% and the ABR margin was 1.00% for the three months ended June 30, 2017.
[7] Available capacity is subject to maintaining sufficient relocation related assets to collateralize these securitization obligations.
[8] In June 2017, Realogy Group extended the existing Apple Ridge Funding LLC securitization program utilized by Cartus until June 2018. As of June 30, 2017, the Company had $325 million of borrowing capacity under the Apple Ridge Funding LLC securitization program leaving $114 million of available capacity.
[9] Consists of a £10 million revolving loan facility and a £5 million working capital facility. As of June 30, 2017, the Company had $20 million of borrowing capacity under the Cartus Financing Limited securitization program leaving $8 million of available capacity.