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Short And Long-Term Debt Indebtedness Table (Details)
£ in Millions, $ in Millions
9 Months Ended
Sep. 30, 2019
USD ($)
Nov. 05, 2019
USD ($)
Sep. 30, 2019
GBP (£)
Mar. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Feb. 28, 2018
USD ($)
Jan. 31, 2017
USD ($)
Principal Amount              
Long-term debt principal amount [1] $ 3,783            
Securitization obligations outstanding 228       $ 231    
Unamortized Discount and Debt Issuance Costs              
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net [1] 30            
Net Amount              
Outstanding borrowings, long-term debt [1] 3,753            
Securitization obligations outstanding 228       231    
Letter of Credit, borrowing capacity $ 125            
LIBOR              
Net Amount              
Description of variable interest rate basis LIBOR            
ABR              
Net Amount              
Description of variable interest rate basis ABR            
Term Loan B | LIBOR              
Net Amount              
Debt Instrument, Basis Spread on Variable Rate 2.25%            
Debt Instrument, Basis Spread on Variable Rate, Floor 0.75%   0.75%        
Term Loan B | ABR              
Net Amount              
Debt Instrument, Basis Spread on Variable Rate 1.25%            
Debt Instrument, Basis Spread on Variable Rate, Floor 1.75%   1.75%        
Unsecured Letter of Credit Facility              
Net Amount              
Interest Rate 3.33%   3.33%        
Letter of Credit, borrowing capacity $ 66       66    
Outstanding letters of credit 56       63    
Secured Debt | Term Loan B              
Principal Amount              
Long-term debt principal amount 1,061 [2]       1,069 $ 1,080  
Unamortized Discount and Debt Issuance Costs              
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net [2] 14            
Net Amount              
Outstanding borrowings, long-term debt $ 1,047 [2]       1,053    
Annual percentage of original principal amount for quarterly amortization payments 1.00%   1.00%        
Secured Debt | Term Loan A              
Principal Amount              
Long-term debt principal amount $ 722 [3]       736 750  
Unamortized Discount and Debt Issuance Costs              
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net [3] 4            
Net Amount              
Outstanding borrowings, long-term debt $ 718 [3]       732    
Secured Debt | 2018 | Term Loan A              
Net Amount              
Annual percentage of original principal amount for quarterly amortization payments 2.50%   2.50%        
Secured Debt | 2019 | Term Loan A              
Net Amount              
Annual percentage of original principal amount for quarterly amortization payments 2.50%   2.50%        
Secured Debt | 2020 | Term Loan A              
Net Amount              
Annual percentage of original principal amount for quarterly amortization payments 5.00%   5.00%        
Secured Debt | 2021 | Term Loan A              
Net Amount              
Annual percentage of original principal amount for quarterly amortization payments 7.50%   7.50%        
Secured Debt | 2022 | Term Loan A              
Net Amount              
Annual percentage of original principal amount for quarterly amortization payments 10.00%   10.00%        
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 | 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 | ABR              
Net Amount              
Debt Instrument, Basis Spread on Variable Rate 1.25%            
Senior Notes | 5.25% Senior Notes              
Principal Amount              
Long-term debt principal amount $ 550       550    
Unamortized Discount and Debt Issuance Costs              
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net 2            
Net Amount              
Outstanding borrowings, long-term debt $ 548       547    
Interest Rate 5.25%   5.25%        
Senior Notes | 4.875% Senior Notes              
Principal Amount              
Long-term debt principal amount $ 407       500    
Unamortized Discount and Debt Issuance Costs              
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net 2            
Net Amount              
Outstanding borrowings, long-term debt $ 405       497    
Interest Rate 4.875%   4.875%        
Senior Notes | 9.375% Senior Notes              
Principal Amount              
Long-term debt principal amount $ 550     $ 550 0    
Unamortized Discount and Debt Issuance Costs              
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net 8            
Net Amount              
Outstanding borrowings, long-term debt $ 542       0    
Interest Rate 9.375%   9.375%        
Line of Credit | Revolving Credit Facility              
Principal Amount              
Line of credit facility outstanding $ 265 [4],[5]       270    
Net Amount              
Outstanding borrowings, short-term debt, line of credit facility 265 [4],[5]       270    
Total capacity, short-term debt, line of credit facility $ 1,425 [4],[5]         $ 1,400 $ 1,050
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%            
Securitization obligations              
Principal Amount              
Securitization obligations outstanding $ 228       231    
Net Amount              
Securitization obligations outstanding 228       231    
Securitization obligations | Apple Ridge Funding LLC              
Principal Amount              
Securitization obligations outstanding 216 [6],[7]       218    
Net Amount              
Securitization obligations outstanding 216 [6],[7]       218    
Total capacity, securitization obligations [3],[7] 250            
Debt Instrument, Unused Borrowing Capacity, Amount 34            
Securitization obligations | Cartus Financing Limited              
Principal Amount              
Securitization obligations outstanding 12 [7],[8]       13    
Net Amount              
Securitization obligations outstanding 12 [7],[8]       $ 13    
Total capacity, securitization obligations [3],[7] 18            
Debt Instrument, Unused Borrowing Capacity, Amount $ 6            
Securitization obligations | Revolving Credit Facility | Cartus Financing Limited              
Net Amount              
Total capacity, securitization obligations | £     £ 10        
Securitization obligations | Working Capital Facility | Cartus Financing Limited              
Net Amount              
Total capacity, securitization obligations | £     £ 5        
Subsequent Event | Line of Credit | Revolving Credit Facility              
Principal Amount              
Line of credit facility outstanding [4],[5]   $ 255          
Net Amount              
Outstanding borrowings, short-term debt, line of credit facility [4],[5]   255          
Subsequent Event | Letter of Credit | Revolving Credit Facility              
Principal Amount              
Line of credit facility outstanding   27          
Net Amount              
Outstanding borrowings, short-term debt, line of credit facility   $ 27          
[1] Not included in this table is the Company's Unsecured Letter of Credit Facility which had a capacity of $66 million with $56 million utilized at a weighted average rate of 3.33% at September 30, 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 September 30, 2019.
[4] As of September 30, 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. On November 5, 2019, the Company had $255 million in outstanding borrowings under the Revolving Credit Facility and $27 million of outstanding letters of credit.
[5] Interest rates with respect to revolving loans under the Senior Secured Credit Facility at September 30, 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 September 30, 2019.
[6] As of September 30, 2019, the Company had $250 million of borrowing capacity under the Apple Ridge Funding LLC securitization program leaving $34 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 September 30, 2019, the Company had $18 million of borrowing capacity under the Cartus Financing Limited securitization program leaving $6 million of available capacity. In August 2019, Realogy Group extended the existing Cartus Financing Limited securitization program to August 2020.