Rendering
| Component: (Network and Table) |
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| Network | 2314301 - Disclosure - Long-term Debt and Borrowing Arrangements (Tables) (http://www.avis.com/role/LongTermDebtAndBorrowingArrangementsTables) |
| Table | (Implied) |
Slicers (applies to each fact value in each table cell)
| Reporting Entity [Axis] | 0000723612 (http://www.sec.gov/CIK) |
| Debt Disclosure [Abstract] | Period [Axis] |
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2016-01-01 - 2016-12-31 |
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Debt Disclosure [Abstract] | |
Schedule of Long-Term Debt | Long-term debt and other borrowing arrangements consisted of: | | | | | | | | | | | | Maturity
Date | | As of December 31, | | 2016 | | 2015 | 4⅞% Senior Notes | November 2017 | | $ | — |
| | $ | 300 |
| Floating Rate Senior Notes | December 2017 | | 249 |
| | 249 |
| Floating Rate Term Loan (a) | March 2019 | | 144 |
| | 970 |
| 6% Euro-denominated Senior Notes | March 2021 | | 194 |
| | 502 |
| Floating Rate Term Loan | March 2022 | | 816 |
| | — |
| 5⅛% Senior Notes | June 2022 | | 400 |
| | 400 |
| 5½% Senior Notes | April 2023 | | 675 |
| | 674 |
| 6⅜% Senior Notes | April 2024 | | 350 |
| | — |
| 4⅛% Euro-denominated Senior Notes | November 2024 | | 316 |
| | — |
| 5¼% Senior Notes | March 2025 | | 375 |
| | 375 |
| Other (b) | | | 57 |
| | 46 |
| Deferred financing fees | | | (53 | ) | | (55 | ) | Total | | | 3,523 |
| | 3,461 |
| Less: Short-term debt and current portion of long-term debt | | | 279 |
| | 26 |
| Long-term debt | | | $ | 3,244 |
| | $ | 3,435 |
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__________ | | (a) | The floating rate term loan is part of the Company’s senior revolving credit facility, which is secured by pledges of capital stock of certain subsidiaries of the Company, and liens on substantially all of the Company’s intellectual property and certain other real and personal property. |
| | (b) | Primarily includes capital leases which are secured by liens on the related assets. |
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Contractual Maturities of Company's Corporate Debt | The following table provides contractual maturities of the Company’s corporate debt at December 31, 2016: | | | | | Year | Amount | 2017 | $ | 279 |
| 2018 | 17 |
| 2019 | 158 |
| 2020 | 12 |
| 2021 | 205 |
| Thereafter | 2,905 |
| | $ | 3,576 |
|
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Schedule of Committed Credit Facilities | At December 31, 2016, the committed corporate credit facilities available to the Company and/or its subsidiaries were as follows: | | | | | | | | | | | | | | | | | | Total Capacity | | Outstanding Borrowings | | Letters of Credit Issued | | Available Capacity | Senior revolving credit facility maturing 2021 (a) | $ | 1,800 |
| | $ | — |
| | $ | 753 |
| | $ | 1,047 |
| Other facilities (b) | 5 |
| | 5 |
| | — |
| | — |
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__________ | | (a) | The senior revolving credit facility bears interest at one-month LIBOR plus 200 basis points and is part of the Company’s senior credit facility, which is secured by pledges of capital stock of certain subsidiaries of the Company, and liens on substantially all of the Company’s intellectual property and certain other real and personal property. |
| | (b) | These facilities encompass bank overdraft lines of credit, bearing interest of 1.50% to 3.10% as of December 31, 2016. |
|