XML 60 R37.htm IDEA: XBRL DOCUMENT v3.20.2
Discontinued Operations and Disposal Groups (Details)
£ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2020
USD ($)
Sep. 30, 2019
USD ($)
Sep. 30, 2020
USD ($)
Sep. 30, 2019
USD ($)
Sep. 30, 2020
GBP (£)
May 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]              
Net revenues $ 52,000,000 $ 79,000,000 $ 152,000,000 $ 210,000,000      
Total expenses 57,000,000 69,000,000 176,000,000 216,000,000      
(Loss) income from discontinued operations (5,000,000) 10,000,000 (24,000,000) (6,000,000)      
Estimated loss on the sale of discontinued operations (a) [1] (59,000,000) 0 (133,000,000) 0      
Income tax (benefit) expense from discontinued operations (18,000,000) 2,000,000 (43,000,000) (1,000,000)      
Net (loss) income from discontinued operations [2] (46,000,000) 8,000,000 (114,000,000) (5,000,000)      
ASSETS              
Cash and cash equivalents 13,000,000   13,000,000       $ 28,000,000
Restricted cash 4,000,000   4,000,000       3,000,000
Trade receivables 40,000,000   40,000,000       46,000,000
Relocation receivables 200,000,000   200,000,000       203,000,000
Other current assets 10,000,000   10,000,000       12,000,000
Property and equipment, net 42,000,000   42,000,000       36,000,000
Operating lease assets, net 21,000,000   21,000,000       36,000,000
Goodwill 176,000,000   176,000,000       176,000,000
Trademarks 76,000,000   76,000,000       76,000,000
Other intangibles, net 156,000,000   156,000,000       156,000,000
Allowance for reduction of assets held for sale (a) [3] (155,000,000)   (155,000,000)       (22,000,000)
Total assets classified as held for sale 583,000,000   583,000,000       750,000,000
Liabilities [Abstract]              
Accounts payable 45,000,000   45,000,000       53,000,000
Securitization obligations 143,000,000   143,000,000       206,000,000
Current portion of operating lease liabilities 6,000,000   6,000,000       6,000,000
Accrued expenses and other current liabilities 78,000,000   78,000,000       62,000,000
Long-term operating lease liabilities 25,000,000   25,000,000       29,000,000
Total liabilities classified as held for sale 297,000,000   297,000,000       356,000,000
Securitization obligation | Cartus Relocation Services              
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]              
Other Secured Financings 143,000,000   143,000,000       206,000,000
Relocation receivables and other related relocation assets that collateralize securitization obligations 193,000,000   193,000,000       200,000,000
Interest Expense, Debt $ 1,000,000 $ 2,000,000 $ 4,000,000 $ 6,000,000      
Weighted average interest rate, securitization obligations 3.60% 4.30% 3.60% 4.30% 3.60%    
Apple Ridge Funding LLC | Securitization obligation | Cartus Relocation Services              
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]              
Other Secured Financings $ 137,000,000   $ 137,000,000       195,000,000
Total capacity, securitization obligations 200,000,000   200,000,000     $ 250,000,000  
Debt Instrument, Unused Borrowing Capacity, Amount 63,000,000   63,000,000        
Cartus Financing Limited | Securitization obligation | Cartus Relocation Services              
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]              
Other Secured Financings 6,000,000   6,000,000       $ 11,000,000
Debt Instrument, Unused Borrowing Capacity, Amount $ 13,000,000   $ 13,000,000        
Cartus Financing Limited | Securitization obligation | Working Capital Facility | Cartus Relocation Services              
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]              
Total capacity, securitization obligations | £         £ 5    
Cartus Financing Limited | Securitization obligation | Revolving Credit Facility | Cartus Relocation Services              
Disposal Group, Including Discontinued Operation, Additional Disclosures [Abstract]              
Total capacity, securitization obligations | £         £ 10    
[1] Adjustment to record assets and liabilities held for sale at the lower of carrying value or fair value less any costs to sell based on a market price that is reasonable in relation to fair value.
[2] Includes estimated loss on the sale of discontinued operations, net of tax of $43 million and $97 million for the three and nine months ended September 30, 2020, respectively.
[3] Adjustment to record assets and liabilities held for sale at the lower of carrying value or fair value less any costs to sell based on a market price that is reasonable in relation to fair value.