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Short And Long-Term Debt Indebtedness Table (Details) - USD ($)
3 Months Ended
Mar. 31, 2021
May 03, 2021
Apr. 28, 2021
Feb. 05, 2021
Jan. 27, 2021
Jan. 11, 2021
Dec. 31, 2020
Feb. 28, 2018
Principal Amount                
Long-term debt principal amount $ 3,231,000,000              
Securitization obligations 100,000,000           $ 106,000,000  
Unamortized Discount (Premium) and Debt Issuance Costs                
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net 24,000,000              
Net Amount                
Outstanding borrowings, long-term debt 3,207,000,000              
Securitization obligations $ 100,000,000           106,000,000  
LIBOR                
Net Amount                
Description of variable interest rate basis LIBOR              
ABR                
Net Amount                
Description of variable interest rate basis ABR              
Term Loan B                
Net Amount                
Debt Instrument, Repurchase Amount       $ (655,000,000)        
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%              
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%              
Secured Debt | Term Loan B                
Principal Amount                
Long-term debt principal amount $ 390,000,000 [1]           1,048,000,000 $ 1,080,000,000
Unamortized Discount (Premium) and Debt Issuance Costs                
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net [1] 4,000,000              
Net Amount                
Outstanding borrowings, long-term debt $ 386,000,000 [1]           1,036,000,000  
Annual percentage of original principal amount for quarterly amortization payments 1.00%              
Secured Debt | Non-extended Term Loan A                
Principal Amount                
Long-term debt principal amount $ 197,000,000 [2],[3]           684,000,000  
Unamortized Discount (Premium) and Debt Issuance Costs                
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net [2],[3] 1,000,000              
Net Amount                
Outstanding borrowings, long-term debt 196,000,000 [2],[3]           681,000,000  
Secured Debt | Extended Term Loan A                
Principal Amount                
Long-term debt principal amount 237,000,000 [2],[4]       $ 237,000,000   0  
Unamortized Discount (Premium) and Debt Issuance Costs                
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net [2],[4] 1,000,000              
Net Amount                
Outstanding borrowings, long-term debt $ 236,000,000 [2],[4]           0  
Secured Debt | Extended Term Loan A | June 2021 to March 2022                
Net Amount                
Quarterly percentage of original principal amount for quarterly amortization payments 0.625%              
Secured Debt | Extended Term Loan A | June 2022 to March 2023                
Net Amount                
Quarterly percentage of original principal amount for quarterly amortization payments 1.25%              
Secured Debt | Extended Term Loan A | June 2023 to March 2024                
Net Amount                
Quarterly percentage of original principal amount for quarterly amortization payments 1.875%              
Secured Debt | Extended Term Loan A | June 2024 and thereafter                
Net Amount                
Quarterly percentage of original principal amount for quarterly amortization payments 2.50%              
Secured Debt | 7.625% Senior Secured Second Lien Notes                
Principal Amount                
Long-term debt principal amount $ 550,000,000           550,000,000  
Unamortized Discount (Premium) and Debt Issuance Costs                
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net 9,000,000              
Net Amount                
Outstanding borrowings, long-term debt $ 541,000,000           540,000,000  
Interest Rate 7.625%              
Secured Debt | Term Loan A                
Principal Amount                
Long-term debt principal amount           $ 434,000,000   $ 750,000,000
Net Amount                
Debt Instrument, Repurchase Amount       (250,000,000)        
Secured Debt | Less than 2.00 to 1.00 | Term Loan A | LIBOR                
Net Amount                
Debt Instrument, Basis Spread on Variable Rate 1.75%              
Secured Debt | Less than 2.00 to 1.00 | Term Loan A | ABR                
Net Amount                
Debt Instrument, Basis Spread on Variable Rate 0.75%              
Senior Notes | 4.875% Senior Notes                
Principal Amount                
Long-term debt principal amount $ 407,000,000           407,000,000  
Unamortized Discount (Premium) and Debt Issuance Costs                
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net 1,000,000              
Net Amount                
Outstanding borrowings, long-term debt $ 406,000,000           406,000,000  
Interest Rate 4.875%              
Senior Notes | 9.375% Senior Notes                
Principal Amount                
Long-term debt principal amount $ 550,000,000           550,000,000  
Unamortized Discount (Premium) and Debt Issuance Costs                
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net 6,000,000              
Net Amount                
Outstanding borrowings, long-term debt $ 544,000,000           544,000,000  
Interest Rate 9.375%              
Senior Notes | 5.75% Senior Notes                
Principal Amount                
Long-term debt principal amount $ 900,000,000     $ 900,000,000     0  
Unamortized Discount (Premium) and Debt Issuance Costs                
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net 2,000,000              
Net Amount                
Outstanding borrowings, long-term debt $ 898,000,000           0  
Interest Rate 5.75%              
Line of Credit | Non-extended Revolving Credit Commitment                
Principal Amount                
Line of credit facility outstanding $ 0 [5],[6]           0  
Net Amount                
Outstanding borrowings, short-term debt, line of credit facility 0 [5],[6]           0  
Total capacity, short-term debt, line of credit facility [5] 477,000,000              
Line of credit facility outstanding 0 [5],[6]           0  
Line of Credit | Extended Revolving Credit Commitment                
Principal Amount                
Line of credit facility outstanding 0 [5],[6],[7]           0  
Net Amount                
Outstanding borrowings, short-term debt, line of credit facility 0 [5],[6],[7]           0  
Total capacity, short-term debt, line of credit facility 948,000,000       $ 948,000,000      
Line of credit facility outstanding 0 [5],[6],[7]           0  
Line of Credit | Revolving Credit Facility                
Net Amount                
Total capacity, short-term debt, line of credit facility $ 1,425,000,000              
Line of Credit | Less than 2.00 to 1.00 | Revolving Credit Facility | LIBOR                
Net Amount                
Debt Instrument, Basis Spread on Variable Rate 1.75%              
Line of Credit | Less than 2.00 to 1.00 | Revolving Credit Facility | ABR                
Net Amount                
Debt Instrument, Basis Spread on Variable Rate 0.75%              
Letter of Credit | Revolving Credit Facility                
Principal Amount                
Line of credit facility outstanding $ 43,000,000              
Net Amount                
Outstanding borrowings, short-term debt, line of credit facility 43,000,000              
Line of credit facility outstanding 43,000,000              
Securitization obligation                
Unamortized Discount (Premium) and Debt Issuance Costs                
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net 0              
Securitization obligation | Apple Ridge Funding LLC                
Principal Amount                
Securitization obligations 97,000,000 [8],[9]           102,000,000  
Net Amount                
Securitization obligations 97,000,000 [8],[9]           102,000,000  
Total capacity, securitization obligations 200,000,000              
Debt Instrument, Unused Borrowing Capacity, Amount 103,000,000              
Securitization obligation | Cartus Financing Limited                
Principal Amount                
Securitization obligations 3,000,000 [9],[10]           4,000,000  
Net Amount                
Securitization obligations 3,000,000 [9],[10]           $ 4,000,000  
Total capacity, securitization obligations 21,000,000              
Debt Instrument, Unused Borrowing Capacity, Amount $ 18,000,000              
Subsequent Event | Term Loan B                
Net Amount                
Debt Instrument, Repurchase Amount     $ (150)          
Subsequent Event | Line of Credit | Revolving Credit Facility                
Principal Amount                
Line of credit facility outstanding [5]   $ 0            
Net Amount                
Outstanding borrowings, short-term debt, line of credit facility [5]   0            
Line of credit facility outstanding [5]   0            
Subsequent Event | Letter of Credit | Revolving Credit Facility                
Principal Amount                
Line of credit facility outstanding   43,000,000            
Net Amount                
Outstanding borrowings, short-term debt, line of credit facility   43,000,000            
Line of credit facility outstanding   $ 43,000,000            
[1] In January and February 2021, we used a portion of the proceeds from the issuance of 5.75% Senior Notes to pay down $655 million of outstanding borrowings under the Term Loan B Facility. The Term Loan B Facility provides for quarterly amortization payments totaling 1% per annum of the $1,080 million original principal amount. The interest rate with respect to term loans under the Term Loan B Facility 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%). On April 28, 2021, the Company used cash on hand to pay down $150 million of the Term Loan B Facility.
[2] In January 2021, prior to the effective date of the 2021 Amendments, we used a portion of the proceeds from the issuance of 5.75% Senior Notes to pay down $250 million of outstanding borrowings under the Term Loan A Facility. The interest rates with respect to each of the Non-extended Term Loan A and Extended 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 1.75% and the ABR margin was 0.75% for the three months ended March 31, 2021.
[3] The Company is not required to make amortization payments on the Non-extended Term Loan A. The balance of the Non-Extended Term Loan A is due at maturity on February 8, 2023.
[4] The Extended Term Loan A has quarterly amortization payments, commencing with the quarter ending June 30, 2021, equal to a percentage per quarter of the $237 million principal amount of the Extended Term Loan A outstanding on January 27, 2021 (the effective date of the 2021 Amendments), as follows: 0.625% per quarter from June 30, 2021 to March 31, 2022; 1.25% per quarter from June 30, 2022 to March 31, 2023; 1.875% per quarter from June 30, 2023 to March 31, 2024; and 2.50% per quarter for periods ending on or after June 30, 2024, with the balance of the Extended Term Loan A due at maturity on February 8, 2025.
[5] Interest rates with respect to revolving loans under the Senior Secured Credit Facility at March 31, 2021 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 1.75% and the ABR margin was 0.75% for the three months ended March 31, 2021.
[6] The available capacity under the Non-extended Revolving Credit Commitment is $477 million, while the available capacity under the Extended Revolving Credit Commitment is $948 million. As of March 31, 2021, there were no outstanding borrowings under either the Non-extended Revolving Credit Commitment or Extended Revolving Credit Commitment and $43 million of outstanding undrawn letters of credit. The Non-extended Revolving Credit Commitment expires in February 2023 and, subject to earlier spring maturity described in footnote (3), the Extended Revolving Credit Commitment expires in February 2025, but in each instance, amounts outstanding would be classified on the balance sheet as current due to the revolving nature and terms and conditions of the facilities. On May 3, 2021, the Company had no outstanding borrowings under the Revolving Credit Facility and $43 million of outstanding undrawn letters of credit
[7] The maturity date of each of the Extended Revolving Credit Commitment and Extended Term Loan A may spring forward to a date prior to February 2025 as follows: (i) if on or before March 2, 2023, the 4.875% Senior Notes have not been extended, refinanced or replaced to have a maturity date after May 10, 2025 (or are not otherwise discharged, defeased or repaid by March 2, 2023), the maturity date of the Extended Revolving Credit Commitment and Extended Term Loan A Facility will be March 2, 2023; and (ii) if on or before November 9, 2024, the Term Loan B Facility under the Senior Secured Credit Agreement is not extended, refinanced or replaced to have a maturity date after May 10, 2025 (or otherwise repaid prior to November 9, 2024), the maturity date of the Extended Revolving Credit Commitment and Extended Term Loan A Facility will be November 9, 2024
[8] As of March 31, 2021, the Company had $200 million of borrowing capacity under the Apple Ridge Funding LLC securitization program leaving $103 million of available capacity.
[9] Available capacity is subject to maintaining sufficient relocation related assets to collateralize these securitization obligations.
[10] Consists of a £10 million revolving loan facility and a £5 million working capital facility. As of March 31, 2021, the Company had $21 million of borrowing capacity under the Cartus Financing Limited securitization program leaving $18 million of available capacity