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Note 8. Short And Long-Term Debt Schedule of Total Indebtedness (Details) - USD ($)
$ in Millions
Dec. 31, 2017
Dec. 31, 2016
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Long-term Debt [1] $ 3,542  
Total Short-Term & Long-Term Debt 3,348 $ 3,507
Securitization obligations 194 205
Line of Credit | Revolving Credit Facility    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Long-term Line of Credit 70 [2],[3] 200
Securitization obligations    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Securitization obligations 194 205
Securitization obligations | Apple Ridge Funding LLC    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Securitization obligations 181 [4],[5] 192
Securitization obligations | Cartus Financing Limited    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Securitization obligations 13 [4],[6] 13
Secured Debt | Term Loan B    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Long-term Debt 1,063 [7] 1,069
Secured Debt | Term Loan A    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Long-term Debt 390 [8] 411
Secured Debt | Term Loan A-1    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Long-term Debt 339 [9] 347
Senior Notes | 4.50% Senior Notes    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Long-term Debt 444 439
Senior Notes | 5.25% Senior Notes    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Long-term Debt 546 545
Senior Notes | 4.875% Senior Notes    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Long-term Debt $ 496 $ 496
[1] Not included in this table is the Company's Unsecured Letter of Credit Facility which had a capacity of $74 million with $69 million utilized at a weighted average rate of 3.24% at December 31, 2017.
[2] As of December 31, 2017, the Company had $1,050 million of borrowing capacity under its Revolving Credit Facility, leaving $980 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 February 23, 2018, the Company had $242 million in outstanding borrowings under the New Revolving Credit Facility, leaving $1,158 million of available capacity. See Note 19, "Subsequent Events" for a description of the February 2018 refinancing.
[3] Interest rates with respect to revolving loans under the Senior Secured Credit Facility at December 31, 2017 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 previous quarter senior secured leverage ratio, the LIBOR margin was 2.00% and the ABR margin was 1.00% for the three months ended December 31, 2017.
[4] Available capacity is subject to maintaining sufficient relocation related assets to collateralize these securitization obligations.
[5] In November 2017, the capacity of the Apple Ridge facility was reduced from $325 million to $250 million. As of December 31, 2017, the Company had $250 million of borrowing capacity under the Apple Ridge Funding LLC securitization program leaving $69 million of available capacity.
[6] Consists of a £10 million revolving loan facility and a £5 million working capital facility. As of December 31, 2017, the Company had $20 million of borrowing capacity under the Cartus Financing Limited securitization program leaving $7 million of available capacity.
[7] The Term Loan B provided 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 was 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%). See Note 19, "Subsequent Events" for a description of the February 2018 refinancing.
[8] The Term Loan A provided 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 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 previous quarter senior secured leverage ratio, the LIBOR margin was 2.00% and the ABR margin was 1.00% for the three months ended December 31, 2017. See Note 19, "Subsequent Events" for a description of the February 2018 refinancing.
[9] The Term Loan A-1 provided 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 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 previous quarter senior secured leverage ratio, the LIBOR margin was 2.00% and the ABR margin was 1.00% for the three months ended December 31, 2017. See Note 19, "Subsequent Events" for a description of the February 2018 refinancing.