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Short And Long-Term Debt Schedule of Total Indebtedness (Details) - USD ($)
$ in Millions
Mar. 31, 2019
Dec. 31, 2018
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Outstanding borrowings, long-term debt [1] $ 3,962  
Total Short-Term & Long-Term Debt 3,775 $ 3,548
Securitization obligations 187 231
Secured Debt | Term Loan B    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Outstanding borrowings, long-term debt 1,052 [2] 1,053
Secured Debt | Term Loan A    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Outstanding borrowings, long-term debt 727 [3] 732
Senior Notes | 4.50% Senior Notes    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Outstanding borrowings, long-term debt 0 449
Senior Notes | 5.25% Senior Notes    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Outstanding borrowings, long-term debt 547 547
Senior Notes | 4.875% Senior Notes    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Outstanding borrowings, long-term debt 497 497
Senior Notes | 9.375% Senior Notes    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Outstanding borrowings, long-term debt 542 0
Line of Credit | Revolving Credit Facility    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Line of credit facility outstanding 410 [4],[5] 270
Securitization obligations    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Securitization obligations 187 231
Securitization obligations | Apple Ridge Funding LLC    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Securitization obligations 171 [6],[7] 218
Securitization obligations | Cartus Financing Limited    
Schedule of Long-term and Short-term Debt Instruments [Line Items]    
Securitization obligations $ 16 [7],[8] $ 13
[1] Not included in this table is the Company's Unsecured Letter of Credit Facility which had a capacity of $66 million with $59 million utilized at a weighted average rate of 3.33% at March 31, 2019.
[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) ABR plus 1.25% (with an ABR floor of 1.75%).
[3] The Term Loan A provides for quarterly amortization payments, which commenced on June 30, 2018, totaling per annum 2.5%, 2.5%, 5.0%, 7.5% and 10.0% of the original principal amount of the Term Loan A, with the balance of the Term Loan A due at maturity on February 8, 2023. The interest rates with respect to 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's senior secured leverage ratio, the LIBOR margin was 2.25% and the ABR margin was 1.25% for the three months ended March 31, 2019.
[4] As of March 31, 2019, the Company had $1,425 million of borrowing capacity under its Revolving Credit Facility. The Revolving Credit Facility expires in February 2023 but is classified on the balance sheet as current due to the revolving nature and terms and conditions of the facility. In March 2019, the Company increased the borrowing capacity under its Revolving Credit Facility to $1,425 million from $1,400 million. On April 30, 2019, the Company had $470 million in outstanding borrowings under the Revolving Credit Facility.
[5] Interest rates with respect to revolving loans under the Senior Secured Credit Facility at March 31, 2019 were based on, at the Company's option, (a) adjusted London Interbank Offering Rate ("LIBOR") plus an additional margin or (b) JP Morgan Chase Bank, N.A.'s prime rate ("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's senior secured leverage ratio, the LIBOR margin was 2.25% and the ABR margin was 1.25% for the three months ended March 31, 2019.
[6] As of March 31, 2019, the Company had $250 million of borrowing capacity under the Apple Ridge Funding LLC securitization program leaving $79 million of available capacity.
[7] Available capacity is subject to maintaining sufficient relocation related assets to collateralize these securitization obligations.
[8] Consists of a £10 million revolving loan facility and a £5 million working capital facility. As of March 31, 2019, the Company had $20 million of borrowing capacity under the Cartus Financing Limited securitization program leaving $4 million of available capacity.