View Filing Data

$ 1,438

$ 1,334

$ 2,654

$ 2,502

564

532

1,039

987

2,002

1,866

3,693

3,489

Expenses

1,007

953

1,937

1,847

476

334

863

652

274

233

498

452

Interest expense related to corporate debt, net:

123

153

Early Debt Extinguishment

114

142

131

^[1]

^[2]

2,040

1,737

3,788

3,387

Benefit from income taxes

(38)

129

(95)

102

(10)

(21)

(28)

(74)

$ (65)

$ 32

$ (134)

$ 53

Earnings (loss) per share

Basic (US$ per share)

$ (0.26)

$ 0.74

$ (0.69)

$ 0.52

Diluted (US$ per share)

$ (0.26)

$ 0.66

$ (0.69)

$ 0.47

Parent Company [Member]

Revenues

$ 0

Expenses

Interest expense related to corporate debt, net:

Early Debt Extinguishment

Benefit from income taxes

(11)

(23)

(58)

(44)

(3)

(2)

(7)

(4)

Basis Of Presentation And Recently Issued Accounting Pronouncements [Abstract]

$ (28)

$ 79

$ (74)

$ 56

[1]	During the three months ended June 30, 2013, the Company incurred $19 million in transaction-related costs related to the integration of the operations of Avis Europe and costs related to the acquisition and integration of Zipcar. During the three months ended June 30, 2012, the Company incurred $4 million in transaction-related costs related to the integration of the operations of Avis Europe.
[2]	During the six months ended June 30, 2013, the Company incurred $26 million in transaction-related costs related to the integration of the operations of Avis Europe and costs related to the acquisition and integration of Zipcar. During the six months ended June 30, 2012, the Company incurred $10 million in transaction-related costs related to the integration of the operations of Avis Europe.

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2013	Dec. 31, 2012
Current assets:
Cash and cash equivalents	$ 503	$ 606
Receivables, net	691	553
Deferred income taxes	153	146
Other current assets	599	405
Total current assets	1,946	1,710
Property and equipment, net	560	529
Deferred income taxes	1,329	1,454
Goodwill	652	375
Other intangibles, net	902	731
Other non-current assets	345	320
Total assets exclusive of assets under vehicle programs	5,734	5,119
Assets under vehicle programs:
Program cash	139	24
Vehicles, net	12,099	9,274
Receivables from vehicle manufacturers and other	162	439
Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	362	362
Assets under vehicle programs	12,762	10,099
Total assets	18,496	15,218
Current liabilities:
Accounts payable and other current liabilities	1,601	1,421
Short-term debt and current portion of long-term debt	221	57
Total current liabilities	1,822	1,478
Long-term debt	3,195	2,848
Other non-current liabilities	875	871
Total liabilities exclusive of liabilities under vehicle programs	5,892	5,197
Liabilities under vehicle programs:
Debt	2,371	1,603
Debt due to Avis Budget Rental Car Funding (AESOP) LLC-related party	6,986	5,203
Deferred income taxes	2,074	2,163
Other	527	295
Total Liabilities under vehicle programs	11,958	9,264
Commitments and contingencies (Note 13)
Stockholders' equity:
Preferred stock, $0.01 par value-authorized 10 million shares; none issued and outstanding	0	0
Common stock, $0.01 par value-authorized 250 million shares; issued 137,081,056 and 137,081,056 shares	1	1
Additional paid-in capital	7,912	8,211
Accumulated deficit	(2,450)	(2,376)
Accumulated other comprehensive income	50	110
Treasury stock, at cost - 28,943,192 and 30,027,146 shares	(4,867)	(5,189)
Total stockholders' equity	646	757
Total liabilities and stockholders' equity	18,496	15,218
Parent Company [Member]
Current assets:
Cash and cash equivalents	7	5
Receivables, net	0	0
Deferred income taxes	3	3
Other current assets	4	5
Total current assets	14	13
Property and equipment, net	0	0
Deferred income taxes	19	23
Goodwill	0	0
Other intangibles, net	0	0
Other non-current assets	103	109
Total assets exclusive of assets under vehicle programs	833	1,010
Assets under vehicle programs:
Program cash	0	0
Vehicles, net	0	0
Receivables from vehicle manufacturers and other	0	0
Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	0	0
Assets under vehicle programs	0	0
Total assets	833	1,010
Current liabilities:
Accounts payable and other current liabilities	15	22
Short-term debt and current portion of long-term debt	0	0
Total current liabilities	15	22
Long-term debt	75	128
Other non-current liabilities	97	103
Total liabilities exclusive of liabilities under vehicle programs	187	253
Liabilities under vehicle programs:
Debt	0	0
Debt due to Avis Budget Rental Car Funding (AESOP) LLC-related party	0	0
Deferred income taxes	0	0
Other	0	0
Total Liabilities under vehicle programs	0	0
Stockholders' equity:
Total stockholders' equity	646	757
Total liabilities and stockholders' equity	$ 833	$ 1,010

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2013	Dec. 31, 2012
Statement of Financial Position [Abstract]
Preferred stock,par value	$ 0.01	$ 0.01
Preferred stock,shares authorized	10,000,000	10,000,000
Preferred stock,shares issued	0	0
Preferred stock,shares outstanding	0	0
Common stock,par value	$ 0.01	$ 0.01
Common stock,shares authorized	250,000,000	250,000,000
Common stock,shares issued	137,081,056	137,081,056
Treasury stock,shares	28,579,218	30,027,146

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Operating activities
Net loss	$ (74)	$ 56
Adjustments to reconcile net income to net cash provided by operating activities:
Vehicle depreciation	808	694
Gain on sale of vehicles, net	(2)	(99)
Non-vehicle related depreciation and amortization	71	62
Amortization of debt financing fees	22	31
Net change in assets and liabilities, excluding the impact of acquisitions and dispositions:
Receivables	(113)	(83)
Income taxes and deferred income taxes	(44)	18
Accounts payable and other current liabilities	31	(9)
Other, net	175	52
Net cash provided by operating activities	874	722
Investing activities
Property and equipment additions	(56)	(49)
Proceeds received on asset sales	7	13
Net assets acquired, net of cash acquired	(476)	(5)
Other, net	50	(2)
Net cash used in investing activities exclusive of vehicle programs	(475)	(43)
Vehicle programs:
Increase in program cash	(111)	(61)
Investment in vehicles	(7,306)	(6,938)
Proceeds received on disposition of vehicles	4,434	4,077
Net cash used in investing activities of vehicle programs	(2,983)	(2,922)
Net cash used in investing activities	(3,458)	(2,965)
Financing activities
Proceeds from long-term borrowings	2,725	654
Principal payments on long-term borrowings	(2,338)	(853)
Net change in short-term borrowings	10	(1)
Purchases of warrants	(29)	(26)
Proceeds from sale of call options	40	38
Debt financing fees	(28)	(9)
Other, net	2	0
Net cash provided by financing activities exclusive of vehicle programs	382	(197)
Vehicle programs:
Proceeds from borrowings	8,191	7,172
Payments on borrowings	(6,055)	(4,802)
Debt financing fees	(20)	(11)
Net cash provided by financing activities of vehicle programs	2,116	2,359
Net cash provided by financing activities	2,498	2,162
Effect of changes in exchange rates on cash and cash equivalents	(17)	1
Net increase (decrease) in cash and cash equivalents	(103)	(80)
Cash and cash equivalents, beginning of period	606	534
Cash and cash equivalents, end of period	503	454
Parent Company [Member]
Operating activities
Net loss	(74)	56
Adjustments to reconcile net income to net cash provided by operating activities:
Non-vehicle related depreciation and amortization	0	0
Net change in assets and liabilities, excluding the impact of acquisitions and dispositions:
Net cash provided by operating activities	(2)	(45)
Investing activities
Property and equipment additions	0	0
Proceeds received on asset sales	0	0
Other, net	0	4
Net cash used in investing activities exclusive of vehicle programs	0	4
Vehicle programs:
Increase in program cash	0	0
Investment in vehicles	0	0
Proceeds received on disposition of vehicles	0	0
Net cash used in investing activities of vehicle programs	0	0
Net cash used in investing activities	0	4
Financing activities
Proceeds from long-term borrowings	0	0
Principal payments on long-term borrowings	(93)	(201)
Net change in short-term borrowings	0	0
Purchases of warrants	(29)	(26)
Proceeds from sale of call options	40	38
Debt financing fees	0	0
Other, net	2
Net cash provided by financing activities exclusive of vehicle programs	4	42
Vehicle programs:
Proceeds from borrowings	0	0
Payments on borrowings	0	0
Debt financing fees	0	0
Net cash provided by financing activities of vehicle programs	0	0
Net cash provided by financing activities	4	42
Effect of changes in exchange rates on cash and cash equivalents	0	0
Net increase (decrease) in cash and cash equivalents	2	1
Cash and cash equivalents, beginning of period	5	2
Cash and cash equivalents, end of period	$ 7	$ 3

Basis of Presentation and Recently Issued Accounting Pronouncements

6 Months Ended

Jun. 30, 2013

Basis of Presentation and Recently Issued Accounting Pronouncements

Basis of Presentation

Avis Budget Group, Inc. provides car and truck rentals and ancillary services to businesses and consumers worldwide. The accompanying unaudited Consolidated Condensed Financial Statements include the accounts and transactions of Avis Budget Group, Inc. and its subsidiaries (“Avis Budget”), as well as entities in which Avis Budget directly or indirectly has a controlling financial interest (collectively, the “Company”), and have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission for interim financial reporting.

The Company operates the following business segments:


•	North America—provides car rentals in the United States and vehicle rentals in Canada, as well as ancillary products and services, and operates the Company’s Zipcar car sharing business.


•	International—provides, and licenses the Company’s brands to third parties for, vehicle rentals and ancillary products and services primarily in Europe, the Middle East, Asia, Africa, South America, Central America, the Caribbean, Australia and New Zealand.


•	Truck Rental—provides truck rentals and ancillary products and services to consumers and commercial users in the United States.

In presenting the Consolidated Condensed Financial Statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”), management makes estimates and assumptions that affect the amounts reported and related disclosures. Estimates, by their nature, are based on judgment and available information. Accordingly, actual results could differ from those estimates. In management’s opinion, the Consolidated Condensed Financial Statements contain all normal recurring adjustments necessary for a fair presentation of interim results reported. The results of operations reported for interim periods are not necessarily indicative of the results of operations for the entire year or any subsequent interim period. These financial statements should be read in conjunction with the Company’s 2012 Annual Report on Form 10-K and Form 10-K/A.

Vehicle Programs. The Company presents separately the financial data of its vehicle programs. These programs are distinct from the Company’s other activities since the assets under vehicle programs are generally funded through the issuance of debt that is collateralized by such assets. The income generated by these assets is used, in part, to repay the principal and interest associated with the debt. Cash inflows and outflows relating to the acquisition of such assets and the principal debt repayment or financing of such assets are classified as activities of the Company’s vehicle programs. The Company believes it is appropriate to segregate the financial data of its vehicle programs because, ultimately, the source of repayment of such debt is the realization of such assets.

Transaction-related Costs. The Company completed the acquisition of Zipcar on March 14, 2013. During the three and six months ended June 30, 2013, transaction-related costs primarily include expenses related to the integration of Avis Europe’s operations with the Company’s and costs related to the acquisition and integration of Zipcar. In the three and six months ended June 30, 2012, transaction-related costs primarily included expenses related to the integration of Avis Europe’s operations with the Company’s.

Currency Transactions. The Company records the gain or loss of foreign-currency transactions on certain intercompany loans and gain or loss on intercompany loan hedges within interest expense related to corporate debt, net. During the three and six months ended June 30, 2013, the Company recorded losses of $3 million and $7 million, respectively, on such items. In the three and six months ended June 30, 2012, the Company recorded losses of $3 million and $9 million, respectively, on such items.

Adoption of New Accounting Standards

On January 1, 2013, as a result of the issuance of a new accounting pronouncement, the Company adopted, as required, Accounting Standards Update No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income,” which requires companies to disclose additional information about amounts reclassified out of accumulated other comprehensive income by component. The adoption of this pronouncement resulted in incremental disclosure about activity and amounts reclassified out of accumulated other comprehensive income.

Restructuring

6 Months Ended

Jun. 30, 2013

Restructuring and Related Activities [Abstract]

Restructuring

Restructuring Activities

During fourth quarter 2012, the Company initiated a strategic restructuring initiative to better position the business of its Truck Rental segment, in which it will close certain rental locations and decrease the size of the rental fleet, which the Company believes will increase fleet utilization and reduce costs. During the six months ended June 30, 2013, as part of this process, the Company recorded restructuring expense of $13 million. The Company expects further restructuring expenses of approximately $9 million to be incurred in 2013 related to this initiative.

In 2011, the Company implemented a restructuring initiative to identify synergies across the Company, enhance organizational efficiencies and consolidate and rationalize processes and facilities. During the six months ended June 30, 2013, as part of this process, the Company formally communicated the termination of employment to approximately 240 employees and recorded $12 million of expense in connection with these initiatives. These expenses primarily represent severance, outplacement services and other costs associated with employee terminations. As of June 30, 2013, the Company has terminated approximately 150 of these employees. The Company expects further restructuring expenses of approximately $22 million to be incurred in 2013.

The following tables summarize the changes to our restructuring-related liabilities and identify the amounts recorded within the Company’s reportable segments, and by category, for restructuring expenses and corresponding payments and utilizations:



		North America			International			Truck Rental			Total
Balance as of January 1, 2013		$	1		$	12		$	—		$	13
	Restructuring expense	3			9			13			25
	Cash payment/utilization	(2		)	(13		)	(13		)	(28		)
Balance as of June 30, 2013		$	2		$	8		$	—		$	10

		Personnel Related			Facility Related			Other ^(a)			Total
Balance as of January 1, 2013		$	12		$	1		$	—		$	13
	Restructuring expense	11			1			13			25
	Cash payment/utilization	(15		)	—			(13		)	(28		)
Balance as of June 30, 2013		$	8		$	2		$	—		$	10

__________


^(a)	Includes expenses related to the disposition of vehicles.

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

Earnings Per Share Earnings Per Share (Notes)

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (“EPS”) (shares in millions):



		Three Months Ended June 30,					Six Months Ended June 30,
		2013			2012		2013			2012
Net income (loss) for basic EPS		$	(28	)	$	79	$	(74	)	$	56
Convertible note interest, net of tax		—			1		—			3
Net income (loss) for diluted EPS		$	(28	)	$	80	$	(74	)	$	59

Basic weighted average shares outstanding		108.4			106.7		108.0			106.3
Options, warrants and non-vested stock ^{(a) (b)}		—			1.8		—			1.9
Convertible debt ^(c)		—			13.4		—			16.6
Diluted weighted average shares outstanding		108.4			121.9		108.0			124.8

Earnings (loss) per share:
	Basic	$	(0.26	)	$	0.74	$	(0.69	)	$	0.52
	Diluted	$	(0.26	)	$	0.66	$	(0.69	)	$	0.47

__________


^(a)	As the Company incurred a net loss for the three and six months ended June 30, 2013, 1.2 million outstanding options, 4.6 million warrants and 3.5 million non-vested stock awards have an anti-dilutive effect and therefore are excluded from the computation of diluted weighted average shares outstanding.


^(b)	For the three and six months ended June 30, 2012, 0.2 million outstanding options, 8.9 million warrants and 1.2 million non-vested stock awards have an anti-dilutive effect and therefore are excluded from the computation of diluted weighted average shares outstanding.


^(c)	As the Company incurred a net loss for the three and six months ended June 30, 2013, 4.6 million issuable shares underlying the 3½% convertible notes due 2014 have an anti-dilutive effect and therefore are excluded from the computation of diluted weighted average shares outstanding.

Acquisitions	6 Months Ended
Acquisitions	Jun. 30, 2013
Business Combinations [Abstract]
Acquisitions	Acquisitions Zipcar On March 14, 2013, the Company completed the acquisition of the entire issued share capital of Zipcar, the leading car sharing company, for $473 million, net of acquired cash. The acquisition increased the Company’s growth potential and its ability to better serve a greater variety of customer transportation needs. The excess of the purchase price over preliminary fair value of net assets acquired was allocated to goodwill, which was assigned to the Company’s North America segment. The goodwill is not expected to be deductible for tax purposes. The fair value of the assets acquired and liabilities assumed has not yet been finalized and is therefore subject to change (for up to one year from the acquisition date). In connection with this acquisition, $190 million was recorded in identifiable intangible assets (consisting of $112 million related to trademarks and $78 million related to customer relationships) and $275 million was recorded in goodwill. The trademark assets are indefinite-lived and the customer relationship intangibles will be amortized over an estimated life of 8 years. Zipcar’s historical revenues and earnings would not have been material to the Company’s results. Apex Car Rentals In October 2012, the Company completed the acquisition of the assets of Apex Car Rentals (“Apex”), a leading deep-value car rental company in New Zealand and Australia, operating a fleet of approximately 4,000 rental vehicles. In conjunction with the acquisition, the Company paid $63 million in cash (including the acquisition of fleet) and agreed to the payment of contingent consideration with an estimated acquisition date fair value of $9 million. The contingent consideration consists of a maximum of $26 million in additional payments that are contingent on Apex’ future financial performance, and the fair value of the contingent consideration at the acquisition date was estimated by utilizing a Monte Carlo simulation technique, based on a range of possible future results. The preliminary allocation of the purchase price of Apex principally includes vehicles of $33 million, trademarks of $21 million and goodwill of $16 million, which were allocated to the Company’s International segment. The goodwill is not expected to be deductible for tax purposes. The fair values of certain tangible assets acquired, identifiable intangible assets, and goodwill are not yet finalized and are subject to change. Apex’ historical revenues and earnings would not have been material to the Company’s results.

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 88-16
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph F4
-Subparagraph e
-Appendix F

Reference 18: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 141
-Paragraph 51, 52
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 67-73
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Current Assets

6 Months Ended

Jun. 30, 2013

Other Current Assets

Other current assets consisted of:



	As of		As of
	June 30,		December 31,
	2013		2012
Sales and use taxes	$	246	$	108
Prepaid expenses	199		174
Other	154		123
Other current assets	$	599	$	405

Intangible Assets

6 Months Ended

Jun. 30, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets consisted of:



	As of June 30, 2013						As of December 31, 2012
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized Intangible Assets
License agreements	$	254	$	45	$	209	$	257	$	39	$	218
Customer relationships ^(a)	164		26		138		86		19		67
Other	2		1		1		2		1		1
Total	$	420	$	72	$	348	$	345	$	59	$	286

Unamortized Intangible Assets
Goodwill ^(a)	$	652					$	375
Trademarks ^(a)	$	554					$	445

__________


^(a)	The increases in carrying amounts primarily relate to the acquisition of Zipcar.

Amortization expense relating to all intangible assets was approximately $7 million and $4 million during second quarter 2013 and 2012, respectively. For the six months ended June 30, 2013 and 2012, amortization expense was approximately $12 million and $10 million, respectively. Based on the Company’s amortizable assets at June 30, 2013, the Company expects amortization expense of approximately $14 million for the remainder of 2013 and approximately $28 million for each of the five fiscal years thereafter.

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

Investments, All Other Investments [Abstract]

Financial Instruments

6 Months Ended

Jun. 30, 2013

Financial Instruments

The fair value of the Company’s financial instruments is generally determined by reference to market values resulting from trading on a national securities exchange or in an over-the-counter market. In some cases where quoted market prices are not available, prices are derived by considering the yield of the benchmark security that was issued to initially price the instruments and adjusting this rate by the credit spread that market participants would demand for the instruments as of the measurement date. The carrying amounts of cash and cash equivalents, accounts receivable, program cash and accounts payable and accrued liabilities approximate fair value due to the short-term maturities of these assets and liabilities.

Debt Instruments

The carrying amounts and estimated fair values of debt instruments were as follows:



		As of June 30, 2013				As of December 31, 2012
		Carrying Amount		Estimated Fair Value ^(a)		Carrying Amount		Estimated Fair Value^(a)
Corporate debt
	Short-term debt and current portion of long-term debt	$	221	$	221	$	57	$	58
	Long-term debt, excluding convertible debt	3,120		3,193		2,720		2,903
	Convertible debt	75		138		128		171

Debt under vehicle programs
	Vehicle-backed debt due to Avis Budget Rental Car Funding (AESOP) LLC	$	6,986	$	7,085	$	5,203	$	5,391
	Vehicle-backed debt	2,363		2,370		1,599		1,613
	Interest rate swaps and interest rate contracts ^(b)	8		8		4		4

__________


^(a)	The fair value measurements are based on significant observable inputs (Level 2).


^(b)	Derivatives in a liability position.

Net Investment Hedge

The Company has designated its 6% Euro-denominated notes issued March 2013 as a hedge of its net investment in Euro-denominated foreign operations. The Company records the effective portion of the gain or loss on this net investment hedge, net of taxes, in accumulated other comprehensive income as part of currency translation adjustments. For the three months ended June 30, 2013, the Company has recorded a $3 million loss, net of tax, in accumulated other comprehensive income and for the six months ended June 30, 2013, this amount was not material. Any ineffective portion of the net investment hedge is immediately reclassified from accumulated other comprehensive income into earnings. There was no ineffectiveness during the three and six months ended June 30, 2013 and the Company does not expect to reclassify any amounts from accumulated other comprehensive income into earnings over the next 12 months.

Derivative Instruments and Hedging Activities

The Company uses foreign exchange contracts to manage its exposure to changes in currency exchange rates associated with its foreign currency denominated receivables and forecasted royalties, forecasted earnings of foreign subsidiaries and forecasted foreign currency denominated acquisitions. The Company primarily hedges its foreign currency exposure to the Australian, Canadian and New Zealand dollars, the Euro and the British pound sterling. These forward contracts do not qualify for hedge accounting treatment; however, the fluctuations in the value of these forward contracts largely offset the impact of changes in the value of the underlying risk they economically hedge.

The Company uses various hedging strategies including interest rate swaps and interest rate caps to create an appropriate mix of fixed and floating rate assets and liabilities. The Company uses interest rate swaps to manage the risk related to its floating rate corporate debt and its floating rate vehicle-backed debt. The Company records the effective portion of changes in the fair value of its cash flow hedges to other comprehensive income, net of tax, and subsequently reclassifies these amounts into earnings in the period during which the hedged transaction is recognized. The Company records the gains or losses related to freestanding derivatives, which are not designated as a hedge for accounting purposes, in its consolidated results of operations. The changes in fair values of hedges that are determined to be ineffective are immediately reclassified from accumulated other comprehensive income into earnings. The Company estimates that the amount of gains or losses currently recorded in accumulated other comprehensive income which will be recognized in earnings over the next 12 months is not material.

From time to time, the Company enters into derivative commodity contracts to manage its exposure to changes in the price of unleaded gasoline. Changes in the fair value of these derivatives are recorded within operating expenses.

Certain of the Company’s derivative instruments contain collateral support provisions that require the Company to post cash collateral to the extent that such derivatives are in a liability position. The aggregate fair value of such derivatives and the aggregate fair value of assets needed to settle these derivatives as of June 30, 2013 was approximately $5 million, for which the Company has posted cash collateral in the normal course of business.

As of June 30, 2013, the Company held derivative instruments with absolute notional values as follows:



	As of
	June 30, 2013
Interest rate caps ^(a)	$	6,798
Interest rate swaps	793
Foreign exchange forward contracts	554
Foreign exchange swaps	492

__________


^(a)	Represents $4.6 billion of interest rate caps sold, partially offset by approximately $2.2 billion of interest rate caps purchased, which amount excludes $2.4 billion of interest rate caps purchased by the Company’s Avis Budget Rental Car Funding (AESOP) LLC (“Avis Budget Rental Car Funding”) subsidiary.

As of June 30, 2013, the Company also had commodity contracts for the purchase of 6 million gallons of unleaded gasoline.

The Company used significant observable inputs (Level 2 inputs) to determine the fair value of its derivative assets and liabilities. Derivatives entered into by the Company are typically executed over-the-counter and are valued using various valuation techniques, as no quoted market prices exist for such instruments. The valuation technique and inputs depend on the type of derivative and the nature of the underlying exposure. The principal techniques used to value these instruments are discounted cash flows and Black-Scholes option valuation models. These models take into account a variety of factors including, where applicable, maturity, commodity prices, interest rate yield curves of the Company and counterparties, credit curves, counterparty creditworthiness and currency exchange rates. These factors are applied on a consistent basis and are based upon observable inputs.

Fair values of derivative instruments were as follows:



		As of June 30, 2013				As of December 31, 2012
		Fair Value, Asset Derivatives		Fair Value, Liability Derivatives		Fair Value, Asset Derivatives		Fair Value, Liability Derivatives
Derivatives designated as hedging instruments
	Interest rate swaps ^(a)	$	—	$	—	$	—	$	1

Derivatives not designated as hedging instruments
	Currency exchange contracts ^(b)	24		5		3		8
	Interest rate contracts ^(c)	3		8		—		4
	Interest rate swaps ^(a)	—		5		—		12
	Commodity contracts	—		—		—		—
	Total	$	27	$	18	$	3	$	25

__________

Amounts in this table exclude derivatives issued by Avis Budget Rental Car Funding, as it is not consolidated by the Company; however, certain amounts related to the derivatives held by Avis Budget Rental Car Funding are included within accumulated other comprehensive income, as discussed in Note 14—Stockholders’ Equity.


^(a)	Included in other non-current liabilities.


^(b)	Included in other current assets and other current liabilities.


^(c)	Included in assets under vehicle programs and liabilities under vehicle programs.

The effects of derivatives recognized in the Company’s Consolidated Condensed Financial Statements were as follows:



		Three Months Ended June 30,						Six Months Ended June 30,
		2013			2012			2013		2012
Derivatives designated as hedging instruments
	Interest rate swaps ^(a)	$	1		$	4		$	1	$	11

Derivatives not designated as hedging instruments ^(b)
	Currency exchange contracts ^(c)	34			6			35		2
	Commodity contracts ^(d)	(2		)	(5		)	—		1
	Interest rate contracts ^(e)	4			(3		)	7		(8		)
	Total	$	37		$	2		$	43	$	6

__________


^(a)	Recognized, net of tax, as a component of other comprehensive income within stockholders’ equity.


^(b)	Gains (losses) related to derivative instruments are expected to be largely offset by (losses) gains on the underlying exposures being hedged.


^(c)	For the three months ended June 30, 2013, included a $30 million gain in interest expense and a $4 million gain in operating expenses. For the six months ended June 30, 2013, included a $29 million gain in interest expense and a $6 million gain in operating expenses. For the three and six months ended June 30, 2012, amounts were included in operating expenses.


^(d)	Included in operating expense.


^(e)	Included in interest expense.

Vehicle Rental Activities

6 Months Ended

Jun. 30, 2013

Vehicle Rental Activities [Abstract]

Vehicle Rental Activities

The components of the Company’s vehicles, net within assets under vehicle programs were as follows:



	As of			As of
	June 30,			December 31,
	2013			2012
Rental vehicles	$	13,263		$	10,000
Less: Accumulated depreciation	(1,381		)	(1,345		)
	11,882			8,655
Vehicles held for sale	217			619
Vehicles, net	$	12,099		$	9,274

The components of vehicle depreciation and lease charges, net are summarized below:



	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Depreciation expense	$	455		$	363		$	808		$	694
Lease charges	23			30			57			57
Gain on sales of vehicles, net	(2		)	(59		)	(2		)	(99		)
Vehicle depreciation and lease charges, net	$	476		$	334		$	863		$	652

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2013
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate for the six months ended June 30, 2013 is a benefit of 22.1%. Such rate differs from the Federal statutory rate of 35.0% primarily due to the treatment of a portion of the expenses for the early extinguishment of corporate debt and certain transaction-related costs. The Company’s effective tax rate for the six months ended June 30, 2012 was a provision of 45.1%. Such rate differed from the Federal statutory rate of 35.0% primarily due to the treatment of a portion of the expenses for the early extinguishment of corporate debt.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Accounts Payable and Other Current Liabilities

Accounts Payable and Other Current Liabilities

6 Months Ended

Jun. 30, 2013

Payables and Accruals [Abstract]

Accounts payable and other current liabilities consisted of:



	As of		As of
	June 30,		December 31,
	2013		2012
Accounts payable	$	376	$	309
Accrued payroll and related	179		198
Accrued sales and use taxes	171		148
Deferred income - current	138		60
Public liability and property damage insurance liabilities – current	129		132
Advertising and marketing	88		82
Income taxes payable – current	47		58
Other	473		434
Accounts payable and other current liabilities	$	1,601	$	1,421

Long-term Debt and Borrowing Arrangements

6 Months Ended

Jun. 30, 2013

Long-term Debt and Borrowing Arrangements

Long-term and other borrowing arrangements consisted of:



		As of		As of
	Maturity Dates	June 30,		December 31,
	Maturity Dates	2013		2012
Floating rate notes ^(a)	May 2014	$	150	$	250
3½% convertible notes ^(c)	October 2014	75		128
Floating rate term loan ^{(b) (d)}	May 2016	47		49
4⅞% notes	November 2017	300		300
9⅝% notes	March 2018	—		446
8¼% notes	January 2019	730		730
Floating rate term loan ^{(b) (e)}	March 2019	994		689
9¾% notes	March 2020	224		250
6% Euro-denominated notes	March 2021	325		—
5½% notes	April 2023	500		—
		3,345		2,842
Other		71		63
Total		3,416		2,905
Less: Short-term debt and current portion of long-term debt		221		57
Long-term debt		$	3,195	$	2,848

__________


^(a)	As of June 30, 2013, the floating rate notes due 2014 bear interest at three-month LIBOR, plus 250 basis points, for an aggregate rate of 2.78%.

^(b)

The floating rate term loans are part of the Company’s senior credit facility, which also includes its revolving credit facility maturing 2016, and are secured by pledges of all of the capital stock of all of the Company’s direct or indirect domestic subsidiaries and 65% of the capital stock of each direct foreign subsidiary, subject to certain exceptions, and liens on substantially all of the Company’s intellectual property and certain other real and personal property.


^(c)	As of June 30, 2013, the 3½% convertible notes are convertible by the holders into approximately 5 million shares of the Company’s common stock.


^(d)	As of June 30, 2013, the floating rate term loan due 2016 bears interest at three-month LIBOR, plus 300 basis points, for an aggregate rate of 3.28%.


^(e)	As of June 30, 2013, the floating term rate loan due 2019 bears interest at the greater of three-month LIBOR or 0.75%, plus 225 basis points, for an aggregate rate of 3.00%.

In March 2013, the Company issued €250 million of 6% senior notes due 2021, at face value. The notes pay interest semi-annually on March 1 and September 1 of each year, beginning in September 2013. The notes are unsecured obligations of the Company’s Avis Budget Finance plc subsidiary, are guaranteed on a senior basis by the Company and certain of its domestic subsidiaries and rank equally with all of the Company’s existing senior unsecured debt. The Company has the right to redeem these notes in whole or in part on or after April 1, 2016 at specified redemption prices, plus any accrued and unpaid interest. The Company used the proceeds from the issuance to partially fund the acquisition of Zipcar.

In April 2013, the Company completed an offering of $500 million of 5½% senior notes due 2023. The notes were issued at par and pay interest semi-annually on April 1 and October 1 of each year, beginning on October 1, 2013. The notes are unsecured obligations of the Company’s Avis Budget Car Rental, LLC (“ABCR”) subsidiary are guaranteed on a senior basis by the Company and certain of its domestic subsidiaries and rank equally with all of the Company’s existing senior unsecured debt. The Company has the right to redeem these notes in whole or in part on or after April 1, 2018 at specified redemption prices, plus any accrued and unpaid interest.

In connection with the issuance of the 5½% senior notes due 2023, the Company completed a cash tender offer to purchase any and all of the outstanding $450 million 9⅝% notes due 2018 and a portion of its outstanding 9¾% notes due 2020. The tender offer expired in April 2013 and approximately $326 million in aggregate principal amount of the 9⅝% notes due 2018 and approximately $26 million of the aggregate principal amount of the 9¾% notes due 2020 were purchased by the Company for $398 million plus accrued interest. In June 2013, the Company redeemed the remaining $124 million principal amount of the 9⅝% notes due 2018 for $139 million plus accrued interest.

During the six months ended June 30, 2013, the Company twice amended its Amended and Restated Credit Agreement, dated as of May 3, 2011 (the “Credit Agreement”) to issue, in aggregate, an additional $300 million of term loan due 2019 (the “New Term Loan”). A portion of the proceeds were used to partially fund the acquisition of Zipcar. The New Term Loan has a committed aggregate principal amount of $1.0 billion and bears interest at the greater of three-month LIBOR or 0.75%, plus 225 basis points.

During the six months ended June 30, 2013, the Company repurchased approximately $53 million of its 3½% convertible notes for approximately $93 million, plus accrued interest, and repaid $100 million of its floating rate notes due 2014 at face value plus accrued interest.

In connection with debt amendments and repayments during the six months ended June 30, 2013, the Company recorded $131 million in debt extinguishment costs.

Committed Credit Facilities and Available Funding Arrangements

At June 30, 2013, the committed credit facilities available to the Company and/or its subsidiaries included:



	Total Capacity		Outstanding Borrowings		Letters of Credit Issued		Available Capacity
Revolving credit facility maturing 2016 ^(a)	$	1,500	$	—	$	1,069	$	431
Other facilities^(b)	12		2		—		10

__________

^(a)

This revolving credit facility matures in 2016 and bears interest of one-month LIBOR, plus 300 basis points. The Company’s senior credit facility, which encompasses the floating rate term loans due 2016 and 2019 and the revolving credit facility, is secured by pledges of all of the capital stock of all of the Company’s domestic subsidiaries and 65% of the capital stock of each direct foreign subsidiary, subject to certain exceptions, 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 4.50% to 5.80% as of June 30, 2013.

At June 30, 2013, the Company had various uncommitted credit facilities available, under which it had drawn approximately $50 million, which bear interest at rates between 0.44% and 8.22%.

The agreements governing the Company’s indebtedness contain restrictive covenants, including restrictions on dividends paid to the Company by certain of its subsidiaries, the incurrence of additional indebtedness by the Company and certain of its subsidiaries, acquisitions, mergers, liquidations, and sale and leaseback transactions. The Company’s senior credit facility contains maximum leverage and minimum interest coverage ratio requirements. As of June 30, 2013, the Company was in compliance with the financial covenants of its senior credit facility.

Debt Under Vehicle Programs and Borrowing Arrangements

6 Months Ended

Jun. 30, 2013

Debt Under Vehicle Programs and Borrowing Arrangements

Debt under vehicle programs (including related party debt due to Avis Budget Rental Car Funding) consisted of:



	As of		As of
	June 30,		December 31,
	2013		2012
North America - Debt due to Avis Budget Rental Car Funding ^(a)	$	6,986	$	5,203
North America - Canadian borrowings ^(a)	631		353
International - Debt borrowings ^(a)	912		679
International - Capital leases ^(a)	455		315
Truck Rental - Debt borrowings	257		253
Other	116		3
Total	$	9,357	$	6,806

__________


^(a)	The increase principally reflects increased borrowing to fund a seasonal increase in the size of the Company’s car rental fleet.

The following table provides the contractual maturities of the Company’s debt under vehicle programs (including related party debt due to Avis Budget Rental Car Funding) at June 30, 2013:



	Vehicle- Backed Debt
Within 1 year ^(a)	$	942
Between 1 and 2 years	4,081
Between 2 and 3 years	1,367
Between 3 and 4 years	1,406
Between 4 and 5 years	1,076
Thereafter	485
Total	$	9,357

__________


^(a)	Vehicle-backed debt maturing within one year includes term asset-backed securities of approximately $545 million and bank and bank-sponsored borrowings of $397 million.

As of June 30, 2013, available funding under the Company’s vehicle programs (including related party debt due to Avis Budget Rental Car Funding) consisted of:



	Total Capacity ^(a)		Outstanding Borrowings		Available Capacity
North America - Debt due to Avis Budget Rental Car Funding ^(b)	$	7,291	$	6,986	$	305
North America - Canadian borrowings ^(c)	727		631		96
International - Debt borrowings ^(d)	1,321		912		409
International - Capital leases	527		455		72
Truck Rental - Debt borrowings ^(e)	259		257		2
Other ^(f)	135		116		19
Total	$	10,260	$	9,357	$	903

__________


^(a)	Capacity is subject to maintaining sufficient assets to collateralize debt.


^(b)	The outstanding debt is collateralized by approximately $8.7 billion of underlying vehicles and related assets.


^(c)	The outstanding debt is collateralized by $833 million of underlying vehicles and related assets.


^(d)	The outstanding debt is collateralized by approximately $1.3 billion of underlying vehicles and related assets.


^(e)	The outstanding debt is collateralized by $432 million of underlying vehicles and related assets.


^(f)	The outstanding debt is collateralized by $182 million of underlying vehicles and related assets.

In March 2013, the Company entered into a three-year, €500 million (approximately $650 million) European rental fleet securitization program, which matures in 2016 and will be used to finance fleet purchases for certain of the Company’s European operations.

Debt agreements under the Company’s vehicle-backed funding programs contain restrictive covenants, including restrictions on dividends paid to the Company by certain of its subsidiaries and restrictions on indebtedness, mergers, liens, liquidations and sale and leaseback transactions and in some cases also require compliance with certain financial requirements. As of June 30, 2013, the Company is not aware of any instances of non-compliance with any of the financial or restrictive covenants contained in the debt agreements under its vehicle-backed funding programs.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2013
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contingencies In connection with the Company’s 2006 separation into four independent companies (the “Separation”), the Company completed the spin-offs of Realogy Corporation (“Realogy”) and Wyndham Worldwide Corporation (“Wyndham”) on July 31, 2006 and completed the sale of Travelport, Inc. (“Travelport”) on August 23, 2006. In connection with the spin-offs of Realogy and Wyndham, the Company entered into a Separation Agreement, pursuant to which Realogy assumed 62.5% and Wyndham assumed 37.5% of certain contingent and other corporate liabilities of the Company or its subsidiaries, which are not primarily related to any of the respective businesses of Realogy, Wyndham, Travelport and/or the Company’s vehicle rental operations, and in each case incurred or allegedly incurred on or prior to the Separation (“Assumed Liabilities”). Realogy is entitled to receive 62.5% and Wyndham is entitled to receive 37.5% of the proceeds from certain contingent corporate assets of the Company, which are not primarily related to any of the respective businesses of Realogy, Wyndham, Travelport and/or the Company’s vehicle rental operations, arising or accrued on or prior to the Separation (“Assumed Assets”). Additionally, if Realogy or Wyndham were to default on its payment of costs or expenses to the Company related to any Assumed Liabilities, the Company would be responsible for 50% of the defaulting party’s obligation. In such event, the Company would be allowed to use the defaulting party’s share of the proceeds of any Assumed Assets as a right of offset. The Company does not believe that the impact of any resolution of contingent liabilities constituting Assumed Liabilities should result in a material liability to the Company in relation to its consolidated financial position or liquidity, as Realogy and Wyndham each have agreed to assume responsibility for these liabilities. The Company is also named in various litigation that is primarily related to the businesses of its former subsidiaries, including Realogy, Wyndham and Travelport and their current or former subsidiaries. The Company is entitled to indemnification from such entities under the Separation Agreement for any liability resulting from such litigation. In accordance with the terms of the Separation Agreement, Realogy posted a letter of credit in April 2007 for the benefit of the Company to cover its estimated share of the Assumed Liabilities discussed above, subject to adjustment, although there can be no assurance that such letter of credit will be sufficient or effective to cover Realogy’s actual obligations if and when they arise. In October 2009, a judgment was entered against the Company in the amount of $16 million following the completion of a jury trial for damages related to breach of contract in the United States District Court for the District of Alaska. The lawsuit, which was filed in 2003, involved breach of contract and other claims by one of the Company’s licensees related to the Company’s acquisition of its Budget vehicle rental business in 2002. The Company believes the verdict in this case is unsupported by the evidence. In addition to the judgment for damages, in June 2010, the district court also entered an order against the Company in the amount of $3 million, in favor of the plaintiff’s motions for pre-judgment interest and attorneys’ fees. The Company filed an appeal of the judgment and attorneys’ fees awarded with the United States Court of Appeals for the Ninth Circuit. In March 2013, the Court of Appeals issued an opinion affirming the ruling of the district court. The Company is continuing to pursue its appeal. Additionally, the Company is also involved in claims, legal proceedings and governmental inquiries related to its vehicle rental operations, including, among others, contract and licensee disputes, wage-and-hour claims, competition matters, insurance claims, intellectual property claims and other regulatory, environmental, commercial and tax matters. Litigation is inherently unpredictable and, although the Company believes that its accruals are adequate and/or that it has valid defenses in these matters, unfavorable resolutions could occur, which could materially impact the Company’s financial position, results of operations or cash flows. Commitments to Purchase Vehicles The Company maintains agreements with vehicle manufacturers under which the Company has agreed to purchase approximately $2.5 billion of vehicles from manufacturers over the next 12 months. The majority of these commitments are subject to the vehicle manufacturers’ satisfying their obligations under their respective repurchase and guaranteed depreciation agreements. The purchase of such vehicles is financed primarily through the issuance of vehicle-backed debt and cash received upon the disposition of vehicles. Other Purchase Commitments In the normal course of business, the Company makes various commitments to purchase other goods or services from specific suppliers, including those related to capital expenditures. The purchase commitments made by the Company as of June 30, 2013 aggregate approximately $177 million. These purchase obligations extend through 2018. Concentrations Concentrations of credit risk at June 30, 2013 include (i) risks related to the Company’s repurchase and guaranteed depreciation agreements with car manufacturers, including Ford Motor Company, General Motors Company, Chrysler Group LLC, PSA Peugeot Citroën, Volkswagen Group, Kia Motors America, Fiat Group Automobiles S.p.A., BMW Group, Subaru of America, Inc., Toyota Motor Corporation, Volvo Group and Daimler AG, and primarily with respect to receivables for program cars that have been disposed but for which the Company has not yet received payment from the manufacturers and (ii) risks related to Realogy and Wyndham, including receivables of $61 million and $38 million, respectively, related to certain contingent, income tax and other corporate liabilities assumed by Realogy and Wyndham in connection with the Separation. Other Guarantees The Company has provided certain guarantees to, or for the benefit of, subsidiaries of Realogy, Wyndham and Travelport, which, as previously discussed, were disposed in 2006. These guarantees relate primarily to various real estate operating leases. The maximum potential amount of future payments that the Company may be required to make under the guarantees relating to these leases is estimated to be approximately $68 million, the majority of which expire by the end of 2014. At June 30, 2013, the liability recorded by the Company in connection with these guarantees was approximately $2 million. To the extent that the Company would be required to perform under any of these guarantees, the Company is entitled to indemnification by Realogy, Wyndham and Travelport, as applicable. The Company monitors the credit ratings and other relevant information for Realogy, Wyndham and Travelport’s parent company in order to assess the status of the payment/performance risk of these guarantees.

The entire disclosure for commitments and contingencies.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Stockholders' Equity

6 Months Ended

Jun. 30, 2013

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

During the six months ended June 30, 2013, concurrently with the Company’s repurchase of a portion of its 3½% convertible notes, the Company repurchased warrants for the purchase of the Company’s common stock for $29 million and sold an equal portion of its convertible note hedge for $40 million, reducing the number of shares related to each of the hedge and warrant by approximately 3 million.

Accumulated Other Comprehensive Income

The components of accumulated other comprehensive income were as follows:



		Currency Translation Adjustments			Net Unrealized Gains on Cash Flow Hedges		Net Unrealized Gains (Losses) on Available-for Sale Securities			Minimum Pension Liability Adjustment			Accumulated Other Comprehensive Income (Loss)
Balance, January 1, 2013		$	193		$	—	$	2		$	(85	)	$	110
	Other comprehensive income (loss) before reclassifications	(60		)	1		(1		)	—			(60		)
	Amounts reclassified from accumulated other comprehensive income ^(a)	—			—		—			—			—
Net current-period other comprehensive income (loss)		(60		)	1		(1		)	—			(60		)
Balance, June 30, 2013		$	133		$	1	$	1		$	(85	)	$	50

__________

All components of accumulated other comprehensive income are net of tax, except currency translation adjustments, which exclude income taxes related to indefinite investments in foreign subsidiaries.


^(a)	For the three months ended June 30, 2013, there were no amounts reclassified from accumulated other comprehensive income.

Total Comprehensive Income

Comprehensive income consists of net income (loss) and other gains and losses affecting stockholders’ equity that, under GAAP, are excluded from net income (loss).

The components of other comprehensive income (loss) were as follows:



		Three Months Ended June 30,						Six Months Ended June 30,
		2013			2012			2013			2012
Net income (loss)		$	(28	)	$	79		$	(74	)	$	56
Other comprehensive income (loss):
	Currency translation adjustments	(37		)	(49		)	(60		)	(12		)
	Net unrealized losses on available-for-sale securities, net of tax	(1		)	(2		)	(1		)	(2		)
	Net unrealized gains on cash flow hedges, net of tax	1			4			1			11
		(37		)	(47		)	(60		)	(3		)
Total comprehensive income (loss)		$	(65	)	$	32		$	(134	)	$	53

During both the three and six month periods ended June 30, 2013, the Company’s net unrealized gains on cash flow hedges were $1 million ($1 million, net of tax). During the three and six months ended June 30, 2012, the Company’s net unrealized losses on cash flow hedges decreased by $7 million and $19 million ($4 million and $11 million, net of tax), respectively, primarily due to the realization of losses in income. Such decreases during the three and six months ended June 30, 2012 were principally related to the Company’s vehicle-backed debt and were offset by a corresponding change in the Company’s investment in Avis Budget Rental Car Funding on the Consolidated Condensed Balance Sheet.

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 2
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 210
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-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

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Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section B
-Paragraph 7, 11A
-Chapter 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30, 31
-Article 5

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 20: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Article 4

Reference 21: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

Reference 22: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 2, 3, 4, 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 23: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

6 Months Ended

Jun. 30, 2013

Stock-Based Compensation

The Company records compensation expense for all stock-based awards based on the estimated fair value of the award at the grant date, which is recognized over the vesting period. The Company recorded stock-based compensation expense of $5 million and $4 million ($3 million and $2 million, net of tax) during the three months ended June 30, 2013 and 2012, respectively, and $9 million and $8 million ($6 million and $5 million, net of tax), during the six months ended June 30, 2013 and 2012, respectively, related to stock-based awards that were granted by the Company.

The Company applies the direct method and tax law ordering approach to calculate the tax effects of stock-based compensation. In jurisdictions with net operating loss carryforwards, tax deductions for exercises of stock options and vesting of restricted stock units in 2013 and 2012 did not generate a cash benefit. Approximately $12 million of incremental tax benefits will be recorded in additional paid-in capital when realized in these jurisdictions.

During the six months ended June 30, 2013, the Company granted the following stock-based awards under the Amended and Restated 2007 Equity and Incentive Plan:


•	25,000 time-based restricted cash units (“RCUs”) and 87,000 market-vesting restricted cash units (“MCUs”); and


•	635,000 time-based restricted stock units (“RSUs”), 395,000 performance-based restricted stock units (“PSUs”), and 87,000 market-vesting restricted stock units (“MSUs”).

Restricted Cash Unit Awards

The terms of the RCUs generally provide for vesting on the second anniversary of the grant date, subject to continued employment, and for settlement on the third anniversary of the grant date. The fair value of the RCUs was based on the Company’s stock price of $21.20 on the grant date.

The terms of the MCUs generally provide for vesting of all or a portion of such units on the third anniversary of the grant date, subject to the attainment of performance goals based on total shareholder return over the vesting period in comparison to a specified market index (“TSR”). On the grant date, these units had a fair market value of $17.14, which was calculated using a Monte Carlo simulation model, based on the expected cash payout.

The amount payable in respect of the RCUs and MCUs will be based on the Company’s average closing stock price over a specified number of trading days at the time of settlement. At June 30, 2013, the Company had 268,000 time-based and market-vesting restricted cash units outstanding with a weighted average contractual life of 1.9 years.

Restricted Stock Unit Awards

The terms of substantially all of the RSUs provide for vesting ratably on the first three anniversaries of the grant date, subject to continued employment. The weighted-average fair value of the RSUs of $21.73 was based on the Company’s closing stock price on the date of grant.

The terms of the PSUs generally provide for vesting of a substantial majority of such units (or a portion thereof) on the third anniversary of the grant date, subject to attainment of certain performance goals based on Adjusted EBITDA, subject to certain further adjustments, with full vesting permitted on such anniversary if goals based on TSR are also achieved.

The terms of the MSUs generally provide for vesting of all or a portion of such units on the third anniversary of the grant date, subject to the attainment of performance goals based on TSR.

The Company determined the weighted-average fair value of performance-based and market-vesting restricted stock units granted in the six months ended June 30, 2013 and 2012 using a Monte Carlo simulation model. The weighted-average fair value of the PSUs and MSUs granted in the six months ended June 30, 2013, was estimated to be $20.64 and $17.14, respectively. The weighted-average fair value of the Company’s market-vesting restricted stock units issued in the six months ended June 30, 2012 was estimated to be $10.59. The assumptions used to estimate the weighted-average fair value of the performance-based and market-vesting awards issued during the six months ended June 30, 2013 and the market-vesting awards issued in the six months ended June 30, 2012 were as follows:



	Six Months Ended June 30,
	2013	2012
Expected volatility of stock price	43%	49%
Risk-free interest rate	0.39%	0.38% - 0.42%
Expected term of awards	3 years	3 years
Dividend yield	0.0%	0.0%

The activity related to the Company’s time-based, performance-based and market-vesting restricted stock units (collectively, solely for purposes of the table below, “RSUs”), and stock options consisted of:



		RSUs				Options
		Number of RSUs (in 000s)		Weighted Average Fair Value		Number of Options (in 000s)		Weighted Average Exercise Price
Balance at January 1, 2013		3,497		$	13.64	1,901		$	2.89
	Granted at fair market value	1,117		20.99		—		—
	Vested/exercised ^(a)	(1,104	)	12.72		(717	)	3.45
	Canceled	(47	)	14.12		(3	)	27.40
Balance at June 30, 2013 ^(b) (c)		3,463		$	16.30	1,181		$	2.49

__________


^(a)	During the six months ended June 30, 2013, 436,000 market-vesting restricted stock units vested. Stock options exercised during the six months ended June 30, 2013 had an intrinsic value of $17 million.

^(b)

As of June 30, 2013, the Company’s outstanding RSUs had an aggregate intrinsic value of $100 million; aggregate unrecognized compensation expense related to RSUs amounted to $37 million; and the balance of RSUs at June 30, 2013, consists of 1,374,000 related to time-based awards and 2,089,000 related to market-vesting and performance-based awards. Approximately 9,000 time-based restricted stock units and 3,000 market-vesting restricted stock units are eligible to vest in 2013, if applicable service criteria are satisfied.


^(c)	As of June 30, 2013, the Company’s outstanding stock options had aggregate intrinsic value of $31 million; there were 1,172,000 “in-the-money” stock options; and aggregate unrecognized compensation expense related to unvested stock options was immaterial. 1,117,000 stock options are exercisable as of June 30, 2013.

The table below summarizes information regarding the Company’s outstanding stock options as of June 30, 2013 (in thousands of shares):



Range of Exercise Prices	Weighted Average Contractual Life (years)	Number of Options
Less than $5.00	5.6	1,012
$5.01 to $10.00	0	—
$10.01 to $15.00	6.6	160
$15.01 to $20.00	0	—
$20.01 and above	1.3	9
Total	5.7	1,181

As of June 30, 2013, all of the stock appreciation rights outstanding at December 31, 2012 had been exercised.

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Segment Information

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Segment Information

The reportable segments presented below represent the Company’s operating segments for which separate financial information is available and is utilized on a regular basis by its chief operating decision maker, the Company’s chief executive officer, to assess performance and to allocate resources. In identifying its reportable segments, the Company also considers the nature of services provided by its operating segments, the geographical areas in which the segments operate and other relevant factors. The Company aggregates certain operating segments into its reportable segments. Management evaluates the operating results of each of its reportable segments based upon revenue and “Adjusted EBITDA”, which is defined as income from continuing operations before non-vehicle related depreciation and amortization, any impairment charge, transaction-related costs, non-vehicle related interest and income taxes. The Company’s presentation of Adjusted EBITDA may not be comparable to similarly-titled measures used by other companies.



				Three Months Ended June 30,
				2013					2012
				Revenues		Adjusted EBITDA			Revenues		Adjusted EBITDA
North America				$	1,292	$	114		$	1,184	$	184
International				608		53			579		59
Truck Rental				102		8			103		17
Corporate and Other ^(a)				—		(11		)	—		(6		)
	Total Company ^(b)			$	2,002	164			$	1,866	254

Less:		Non-vehicle related depreciation and amortization				37					29
		Interest expense related to corporate debt, net:
			Interest expense			55					69
			Early extinguishment of debt			91					23
		Transaction-related costs ^(c)				19					4
Income (loss) before income taxes						$	(38	)			$	129

__________


^(a)	Includes unallocated corporate overhead and the elimination of transactions between segments.


^(b)	Adjusted EBITDA for the three months ended June 30, 2013 and 2012, includes $15 million and $12 million, respectively, of restructuring expense.


^(c)	During the three months ended June 30, 2013, the Company incurred $19 million in transaction-related costs related to the integration of the operations of Avis Europe and costs related to the acquisition and integration of Zipcar. During the three months ended June 30, 2012, the Company incurred $4 million in transaction-related costs related to the integration of the operations of Avis Europe.



				Six Months Ended June 30,
				2013					2012
				Revenues		Adjusted EBITDA			Revenues		Adjusted EBITDA
North America				$	2,392	$	205		$	2,222	$	277
International				1,123		67			1,089		81
Truck Rental				178		(2		)	177		18
Corporate and Other ^(a)				—		(23		)	1		(10		)
	Total Company ^(b)			$	3,693	247			$	3,489	366

Less:		Non-vehicle related depreciation and amortization				71					62
		Interest expense related to corporate debt, net:
			Interest expense			114					142
			Early extinguishment of debt			131					50
		Transaction-related costs ^(c)				26					10
Income (loss) before income taxes						$	(95	)			$	102

__________


^(a)	Includes unallocated corporate overhead and the elimination of transactions between segments.


^(b)	Adjusted EBITDA for the six months ended June 30, 2013 and 2012, includes $25 million and $19 million, respectively, of restructuring expense.


^(c)	During the six months ended June 30, 2013, the Company incurred $26 million in transaction-related costs related to the integration of the operations of Avis Europe and costs related to the acquisition and integration of Zipcar. During the six months ended June 30, 2012, the Company incurred $10 million in transaction-related costs related to the integration of the operations of Avis Europe.

Since December 31, 2012, there have been no significant changes in segment assets other than in the Company’s North America segment. As of June 30, 2013 and December 31, 2012, North America segment assets under vehicle programs were approximately $9.8 billion and $7.4 billion, respectively, and assets exclusive of assets under vehicle programs were approximately $3.6 billion and $3.1 billion, respectively.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 34
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Basis Of Presentation And Recently Issued Accounting Pronouncements [Abstract]

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2013
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events During July 2013, the Company acquired Payless Car Rental for approximately $50 million in cash. The addition of the Payless brand positions the Company to participate in the fast-growing deep-value segment of the car rental industry. In August 2013, the Company’s Board of Directors authorized a new share repurchase program that will enable the Company to purchase up to $200 million of its common stock. In August, the Company amended its principal corporate revolving credit facility extending its maturity from 2016 to 2018, expanding its size from $1.5 billion to $1.65 billion, and reducing the interest rate under the facility by 75 basis points.

Basis of Presentation and Recently Issued Accounting Pronouncements (Policies)

6 Months Ended

Jun. 30, 2013

Basis of Presentation

The Company operates the following business segments:


•	North America—provides car rentals in the United States and vehicle rentals in Canada, as well as ancillary products and services, and operates the Company’s Zipcar car sharing business.


•	International—provides, and licenses the Company’s brands to third parties for, vehicle rentals and ancillary products and services primarily in Europe, the Middle East, Asia, Africa, South America, Central America, the Caribbean, Australia and New Zealand.


•	Truck Rental—provides truck rentals and ancillary products and services to consumers and commercial users in the United States.

Vehicle Programs

Transaction-related Costs

Foreign-currency Transactions

New Accounting Pronouncements, Policy [Policy Text Block]

Adoption of New Accounting Standards

Restructuring (Tables)

6 Months Ended

Jun. 30, 2013

Restructuring and Related Activities [Abstract]

Summary Of Changes To Restructuring-Related Liabilities



		North America			International			Truck Rental			Total
Balance as of January 1, 2013		$	1		$	12		$	—		$	13
	Restructuring expense	3			9			13			25
	Cash payment/utilization	(2		)	(13		)	(13		)	(28		)
Balance as of June 30, 2013		$	2		$	8		$	—		$	10

		Personnel Related			Facility Related			Other ^(a)			Total
Balance as of January 1, 2013		$	12		$	1		$	—		$	13
	Restructuring expense	11			1			13			25
	Cash payment/utilization	(15		)	—			(13		)	(28		)
Balance as of June 30, 2013		$	8		$	2		$	—		$	10

__________


^(a)	Includes expenses related to the disposition of vehicles.

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Computation Of Basic And Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (“EPS”) (shares in millions):



		Three Months Ended June 30,					Six Months Ended June 30,
		2013			2012		2013			2012
Net income (loss) for basic EPS		$	(28	)	$	79	$	(74	)	$	56
Convertible note interest, net of tax		—			1		—			3
Net income (loss) for diluted EPS		$	(28	)	$	80	$	(74	)	$	59

Basic weighted average shares outstanding		108.4			106.7		108.0			106.3
Options, warrants and non-vested stock ^{(a) (b)}		—			1.8		—			1.9
Convertible debt ^(c)		—			13.4		—			16.6
Diluted weighted average shares outstanding		108.4			121.9		108.0			124.8

Earnings (loss) per share:
	Basic	$	(0.26	)	$	0.74	$	(0.69	)	$	0.52
	Diluted	$	(0.26	)	$	0.66	$	(0.69	)	$	0.47

__________

Other Current Assets (Tables)

6 Months Ended

Jun. 30, 2013

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Current Assets

Other current assets consisted of:



	As of		As of
	June 30,		December 31,
	2013		2012
Sales and use taxes	$	246	$	108
Prepaid expenses	199		174
Other	154		123
Other current assets	$	599	$	405

Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule Of Intangible Assets

Intangible assets consisted of:



	As of June 30, 2013						As of December 31, 2012
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized Intangible Assets
License agreements	$	254	$	45	$	209	$	257	$	39	$	218
Customer relationships ^(a)	164		26		138		86		19		67
Other	2		1		1		2		1		1
Total	$	420	$	72	$	348	$	345	$	59	$	286

Unamortized Intangible Assets
Goodwill ^(a)	$	652					$	375
Trademarks ^(a)	$	554					$	445

__________


^(a)	The increases in carrying amounts primarily relate to the acquisition of Zipcar.

Financial Instruments (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2013

Investments, All Other Investments [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

As of June 30, 2013, the Company held derivative instruments with absolute notional values as follows:



	As of
	June 30, 2013
Interest rate caps ^(a)	$	6,798
Interest rate swaps	793
Foreign exchange forward contracts	554
Foreign exchange swaps	492

__________


^(a)	Represents $4.6 billion of interest rate caps sold, partially offset by approximately $2.2 billion of interest rate caps purchased, which amount excludes $2.4 billion of interest rate caps purchased by the Company’s Avis Budget Rental Car Funding (AESOP) LLC (“Avis Budget Rental Car Funding”) subsidiary.

Schedule Of Carrying Amounts And Estimated Fair Values

The carrying amounts and estimated fair values of debt instruments were as follows:



		As of June 30, 2013				As of December 31, 2012
		Carrying Amount		Estimated Fair Value ^(a)		Carrying Amount		Estimated Fair Value^(a)
Corporate debt
	Short-term debt and current portion of long-term debt	$	221	$	221	$	57	$	58
	Long-term debt, excluding convertible debt	3,120		3,193		2,720		2,903
	Convertible debt	75		138		128		171

Debt under vehicle programs
	Vehicle-backed debt due to Avis Budget Rental Car Funding (AESOP) LLC	$	6,986	$	7,085	$	5,203	$	5,391
	Vehicle-backed debt	2,363		2,370		1,599		1,613
	Interest rate swaps and interest rate contracts ^(b)	8		8		4		4

__________


^(a)	The fair value measurements are based on significant observable inputs (Level 2).


^(b)	Derivatives in a liability position.

Fair Value Of Derivative Instruments

Fair values of derivative instruments were as follows:



		As of June 30, 2013				As of December 31, 2012
		Fair Value, Asset Derivatives		Fair Value, Liability Derivatives		Fair Value, Asset Derivatives		Fair Value, Liability Derivatives
Derivatives designated as hedging instruments
	Interest rate swaps ^(a)	$	—	$	—	$	—	$	1

Derivatives not designated as hedging instruments
	Currency exchange contracts ^(b)	24		5		3		8
	Interest rate contracts ^(c)	3		8		—		4
	Interest rate swaps ^(a)	—		5		—		12
	Commodity contracts	—		—		—		—
	Total	$	27	$	18	$	3	$	25

__________


^(a)	Included in other non-current liabilities.


^(b)	Included in other current assets and other current liabilities.


^(c)	Included in assets under vehicle programs and liabilities under vehicle programs

Schedule Of Effect Of Derivatives Recognized

The effects of derivatives recognized in the Company’s Consolidated Condensed Financial Statements were as follows:



		Three Months Ended June 30,						Six Months Ended June 30,
		2013			2012			2013		2012
Derivatives designated as hedging instruments
	Interest rate swaps ^(a)	$	1		$	4		$	1	$	11

Derivatives not designated as hedging instruments ^(b)
	Currency exchange contracts ^(c)	34			6			35		2
	Commodity contracts ^(d)	(2		)	(5		)	—		1
	Interest rate contracts ^(e)	4			(3		)	7		(8		)
	Total	$	37		$	2		$	43	$	6

__________


^(a)	Recognized, net of tax, as a component of other comprehensive income within stockholders’ equity.


^(b)	Gains (losses) related to derivative instruments are expected to be largely offset by (losses) gains on the underlying exposures being hedged.


^(c)	For the three months ended June 30, 2013, included a $30 million gain in interest expense and a $4 million gain in operating expenses. For the six months ended June 30, 2013, included a $29 million gain in interest expense and a $6 million gain in operating expenses. For the three and six months ended June 30, 2012, amounts were included in operating expenses.


^(d)	Included in operating expense.


^(e)	Included in interest expense.

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

Vehicle Rental Activities [Abstract]

Vehicle Rental Activities (Tables)

6 Months Ended

Jun. 30, 2013

Components Of The Company's Vehicles

The components of the Company’s vehicles, net within assets under vehicle programs were as follows:



	As of			As of
	June 30,			December 31,
	2013			2012
Rental vehicles	$	13,263		$	10,000
Less: Accumulated depreciation	(1,381		)	(1,345		)
	11,882			8,655
Vehicles held for sale	217			619
Vehicles, net	$	12,099		$	9,274

Components Of Vehicle Depreciation And Lease Charges

The components of vehicle depreciation and lease charges, net are summarized below:



	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Depreciation expense	$	455		$	363		$	808		$	694
Lease charges	23			30			57			57
Gain on sales of vehicles, net	(2		)	(59		)	(2		)	(99		)
Vehicle depreciation and lease charges, net	$	476		$	334		$	863		$	652

Accounts Payable and Other Current Liabilities (Tables)

6 Months Ended

Jun. 30, 2013

Payables and Accruals [Abstract]

Schedule Of Accounts Payable And Other Current Liabilities

Accounts payable and other current liabilities consisted of:



	As of		As of
	June 30,		December 31,
	2013		2012
Accounts payable	$	376	$	309
Accrued payroll and related	179		198
Accrued sales and use taxes	171		148
Deferred income - current	138		60
Public liability and property damage insurance liabilities – current	129		132
Advertising and marketing	88		82
Income taxes payable – current	47		58
Other	473		434
Accounts payable and other current liabilities	$	1,601	$	1,421

Long-term Debt and Borrowing Arrangements (Tables)

6 Months Ended

Jun. 30, 2013

Schedule Of Long-Term Debt

Long-term and other borrowing arrangements consisted of:



		As of		As of
	Maturity Dates	June 30,		December 31,
	Maturity Dates	2013		2012
Floating rate notes ^(a)	May 2014	$	150	$	250
3½% convertible notes ^(c)	October 2014	75		128
Floating rate term loan ^{(b) (d)}	May 2016	47		49
4⅞% notes	November 2017	300		300
9⅝% notes	March 2018	—		446
8¼% notes	January 2019	730		730
Floating rate term loan ^{(b) (e)}	March 2019	994		689
9¾% notes	March 2020	224		250
6% Euro-denominated notes	March 2021	325		—
5½% notes	April 2023	500		—
		3,345		2,842
Other		71		63
Total		3,416		2,905
Less: Short-term debt and current portion of long-term debt		221		57
Long-term debt		$	3,195	$	2,848

__________


^(a)	As of June 30, 2013, the floating rate notes due 2014 bear interest at three-month LIBOR, plus 250 basis points, for an aggregate rate of 2.78%.

^(b)


^(c)	As of June 30, 2013, the 3½% convertible notes are convertible by the holders into approximately 5 million shares of the Company’s common stock.


^(d)	As of June 30, 2013, the floating rate term loan due 2016 bears interest at three-month LIBOR, plus 300 basis points, for an aggregate rate of 3.28%.


^(e)	As of June 30, 2013, the floating term rate loan due 2019 bears interest at the greater of three-month LIBOR or 0.75%, plus 225 basis points, for an aggregate rate of 3.00%.

Schedule Of Committed Credit Facilities

At June 30, 2013, the committed credit facilities available to the Company and/or its subsidiaries included:



	Total Capacity		Outstanding Borrowings		Letters of Credit Issued		Available Capacity
Revolving credit facility maturing 2016 ^(a)	$	1,500	$	—	$	1,069	$	431
Other facilities^(b)	12		2		—		10

__________

^(a)


^(b)	These facilities encompass bank overdraft lines of credit, bearing interest of 4.50% to 5.80% as of June 30, 2013.

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

Debt Under Vehicle Programs and Borrowing Arrangements (Tables)

6 Months Ended

Jun. 30, 2013

Schedule Of Debt Under Vehicle Programs

Debt under vehicle programs (including related party debt due to Avis Budget Rental Car Funding) consisted of:



	As of		As of
	June 30,		December 31,
	2013		2012
North America - Debt due to Avis Budget Rental Car Funding ^(a)	$	6,986	$	5,203
North America - Canadian borrowings ^(a)	631		353
International - Debt borrowings ^(a)	912		679
International - Capital leases ^(a)	455		315
Truck Rental - Debt borrowings	257		253
Other	116		3
Total	$	9,357	$	6,806

__________


^(a)	The increase principally reflects increased borrowing to fund a seasonal increase in the size of the Company’s car rental fleet.

Schedule Of Contractual Maturities

The following table provides the contractual maturities of the Company’s debt under vehicle programs (including related party debt due to Avis Budget Rental Car Funding) at June 30, 2013:



	Vehicle- Backed Debt
Within 1 year ^(a)	$	942
Between 1 and 2 years	4,081
Between 2 and 3 years	1,367
Between 3 and 4 years	1,406
Between 4 and 5 years	1,076
Thereafter	485
Total	$	9,357

__________


^(a)	Vehicle-backed debt maturing within one year includes term asset-backed securities of approximately $545 million and bank and bank-sponsored borrowings of $397 million.

Schedule Of Available Funding Under The Vehicle Programs

As of June 30, 2013, available funding under the Company’s vehicle programs (including related party debt due to Avis Budget Rental Car Funding) consisted of:



	Total Capacity ^(a)		Outstanding Borrowings		Available Capacity
North America - Debt due to Avis Budget Rental Car Funding ^(b)	$	7,291	$	6,986	$	305
North America - Canadian borrowings ^(c)	727		631		96
International - Debt borrowings ^(d)	1,321		912		409
International - Capital leases	527		455		72
Truck Rental - Debt borrowings ^(e)	259		257		2
Other ^(f)	135		116		19
Total	$	10,260	$	9,357	$	903

__________


^(a)	Capacity is subject to maintaining sufficient assets to collateralize debt.


^(b)	The outstanding debt is collateralized by approximately $8.7 billion of underlying vehicles and related assets.


^(c)	The outstanding debt is collateralized by $833 million of underlying vehicles and related assets.


^(d)	The outstanding debt is collateralized by approximately $1.3 billion of underlying vehicles and related assets.


^(e)	The outstanding debt is collateralized by $432 million of underlying vehicles and related assets.


^(f)	The outstanding debt is collateralized by $182 million of underlying vehicles and related assets.

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2013

Equity [Abstract]

Accumulated Other Comprehensive Income

The components of accumulated other comprehensive income were as follows:



		Currency Translation Adjustments			Net Unrealized Gains on Cash Flow Hedges		Net Unrealized Gains (Losses) on Available-for Sale Securities			Minimum Pension Liability Adjustment			Accumulated Other Comprehensive Income (Loss)
Balance, January 1, 2013		$	193		$	—	$	2		$	(85	)	$	110
	Other comprehensive income (loss) before reclassifications	(60		)	1		(1		)	—			(60		)
	Amounts reclassified from accumulated other comprehensive income ^(a)	—			—		—			—			—
Net current-period other comprehensive income (loss)		(60		)	1		(1		)	—			(60		)
Balance, June 30, 2013		$	133		$	1	$	1		$	(85	)	$	50

__________

All components of accumulated other comprehensive income are net of tax, except currency translation adjustments, which exclude income taxes related to indefinite investments in foreign subsidiaries.


^(a)	For the three months ended June 30, 2013, there were no amounts reclassified from accumulated other comprehensive income.

Components Of Other Comprehensive Income

The components of other comprehensive income (loss) were as follows:



		Three Months Ended June 30,						Six Months Ended June 30,
		2013			2012			2013			2012
Net income (loss)		$	(28	)	$	79		$	(74	)	$	56
Other comprehensive income (loss):
	Currency translation adjustments	(37		)	(49		)	(60		)	(12		)
	Net unrealized losses on available-for-sale securities, net of tax	(1		)	(2		)	(1		)	(2		)
	Net unrealized gains on cash flow hedges, net of tax	1			4			1			11
		(37		)	(47		)	(60		)	(3		)
Total comprehensive income (loss)		$	(65	)	$	32		$	(134	)	$	53

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary Of Share Based Payment Other Than Options Valuation Assumptions

The assumptions used to estimate the weighted-average fair value of the performance-based and market-vesting awards issued during the six months ended June 30, 2013 and the market-vesting awards issued in the six months ended June 30, 2012 were as follows:



	Six Months Ended June 30,
	2013	2012
Expected volatility of stock price	43%	49%
Risk-free interest rate	0.39%	0.38% - 0.42%
Expected term of awards	3 years	3 years
Dividend yield	0.0%	0.0%

Stock Based Compensation Activity



		RSUs				Options
		Number of RSUs (in 000s)		Weighted Average Fair Value		Number of Options (in 000s)		Weighted Average Exercise Price
Balance at January 1, 2013		3,497		$	13.64	1,901		$	2.89
	Granted at fair market value	1,117		20.99		—		—
	Vested/exercised ^(a)	(1,104	)	12.72		(717	)	3.45
	Canceled	(47	)	14.12		(3	)	27.40
Balance at June 30, 2013 ^(b) (c)		3,463		$	16.30	1,181		$	2.49

__________


^(a)	During the six months ended June 30, 2013, 436,000 market-vesting restricted stock units vested. Stock options exercised during the six months ended June 30, 2013 had an intrinsic value of $17 million.

^(b)


^(c)	As of June 30, 2013, the Company’s outstanding stock options had aggregate intrinsic value of $31 million; there were 1,172,000 “in-the-money” stock options; and aggregate unrecognized compensation expense related to unvested stock options was immaterial. 1,117,000 stock options are exercisable as of June 30, 2013.

Summary Of Share Based Compensation Shares Authorized Under Stock Option Plans By Exercise Price Range

The table below summarizes information regarding the Company’s outstanding stock options as of June 30, 2013 (in thousands of shares):



Range of Exercise Prices	Weighted Average Contractual Life (years)	Number of Options
Less than $5.00	5.6	1,012
$5.01 to $10.00	0	—
$10.01 to $15.00	6.6	160
$15.01 to $20.00	0	—
$20.01 and above	1.3	9
Total	5.7	1,181

Segment Information (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Summary Of Segments Information



				Three Months Ended June 30,
				2013					2012
				Revenues		Adjusted EBITDA			Revenues		Adjusted EBITDA
North America				$	1,292	$	114		$	1,184	$	184
International				608		53			579		59
Truck Rental				102		8			103		17
Corporate and Other ^(a)				—		(11		)	—		(6		)
	Total Company ^(b)			$	2,002	164			$	1,866	254

Less:		Non-vehicle related depreciation and amortization				37					29
		Interest expense related to corporate debt, net:
			Interest expense			55					69
			Early extinguishment of debt			91					23
		Transaction-related costs ^(c)				19					4
Income (loss) before income taxes						$	(38	)			$	129

__________


^(a)	Includes unallocated corporate overhead and the elimination of transactions between segments.


^(b)	Adjusted EBITDA for the three months ended June 30, 2013 and 2012, includes $15 million and $12 million, respectively, of restructuring expense.


^(c)	During the three months ended June 30, 2013, the Company incurred $19 million in transaction-related costs related to the integration of the operations of Avis Europe and costs related to the acquisition and integration of Zipcar. During the three months ended June 30, 2012, the Company incurred $4 million in transaction-related costs related to the integration of the operations of Avis Europe.



				Six Months Ended June 30,
				2013					2012
				Revenues		Adjusted EBITDA			Revenues		Adjusted EBITDA
North America				$	2,392	$	205		$	2,222	$	277
International				1,123		67			1,089		81
Truck Rental				178		(2		)	177		18
Corporate and Other ^(a)				—		(23		)	1		(10		)
	Total Company ^(b)			$	3,693	247			$	3,489	366

Less:		Non-vehicle related depreciation and amortization				71					62
		Interest expense related to corporate debt, net:
			Interest expense			114					142
			Early extinguishment of debt			131					50
		Transaction-related costs ^(c)				26					10
Income (loss) before income taxes						$	(95	)			$	102

__________


^(a)	Includes unallocated corporate overhead and the elimination of transactions between segments.


^(b)	Adjusted EBITDA for the six months ended June 30, 2013 and 2012, includes $25 million and $19 million, respectively, of restructuring expense.


^(c)	During the six months ended June 30, 2013, the Company incurred $26 million in transaction-related costs related to the integration of the operations of Avis Europe and costs related to the acquisition and integration of Zipcar. During the six months ended June 30, 2012, the Company incurred $10 million in transaction-related costs related to the integration of the operations of Avis Europe.

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Guarantor and Non-Guarantor Consolidating Condensed Financial Statements (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2012

Consolidating Condensed Statements of Comprehensive Income

Three Months Ended June 30, 2013



			Parent			Subsidiary Issuers			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Total
Revenues
	Vehicle rental		$	—		$	—		$	972	$	466	$	—		$	1,438
	Other		—			—			288		643		(367		)	564
Net revenues			—			—			1,260		1,109		(367		)	2,002

Expenses
	Operating		2			2			613		390		—			1,007
	Vehicle depreciation and lease charges, net		—			—			327		323		(174		)	476
	Selling, general and administrative		8			1			165		100		—			274
	Vehicle interest, net		—			—			46		63		(43		)	66
	Non-vehicle related depreciation and amortization		—			—			25		12		—			37
	Interest expense related to corporate debt, net:
		Interest expense	1			52			—		2		—			55
		Intercompany interest expense (income)	(3		)	(6		)	1		8		—			—
		Early extinguishment of debt	2			89			—		—		—			91
	Transaction-related costs		1			9			1		8		—			19
	Restructuring expense		—			—			9		6		—			15
Total expenses			11			147			1,187		912		(217		)	2,040
Income (loss) before income taxes and equity in earnings of subsidiaries			(11		)	(147		)	73		197		(150		)	(38		)
Provision for (benefit from) income taxes			(3		)	(55		)	34		14		—			(10		)
Equity in earnings (loss) of subsidiaries			(20		)	72			33		—		(85		)	—
Net income (loss)			$	(28	)	$	(20	)	$	72	$	183	$	(235	)	$	(28	)

Comprehensive income (loss)			$	(65	)	$	(56	)	$	39	$	151	$	(134	)	$	(65	)



			Parent			Subsidiary Issuers			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Total
Revenues
	Vehicle rental		$	—		$	—		$	890	$	444	$	—		$	1,334
	Other		—			—			278		501		(247		)	532
Net revenues			—			—			1,168		945		(247		)	1,866

Expenses
	Operating		1			(4		)	591		365		—			953
	Vehicle depreciation and lease charges, net		—			—			185		211		(62		)	334
	Selling, general and administrative		5			—			145		83		—			233
	Vehicle interest, net		—			—			64		80		(64		)	80
	Non-vehicle related depreciation and amortization		—			—			18		11		—			29
	Interest expense related to corporate debt, net:
		Interest expense	2			64			—		3		—			69
		Intercompany interest expense (income)	(5		)	(74		)	66		13		—			—
		Early extinguishment of debt	20			3			—		—		—			23
	Transaction-related costs		—			—			—		4		—			4
	Restructuring expenses		—			—			—		12		—			12
Total expenses			23			(11		)	1,069		782		(126		)	1,737
Income (loss) before income taxes and equity in earnings of subsidiaries			(23		)	11			99		163		(121		)	129
Provision for (benefit from) income taxes			(2		)	3			36		13		—			50
Equity in earnings of subsidiaries			100			92			29		—		(221		)	—
Net income (loss)			$	79		$	100		$	92	$	150	$	(342	)	$	79

Comprehensive income			$	32		$	55		$	46	$	107	$	(208	)	$	32



			Parent			Subsidiary Issuers			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Total
Revenues
	Vehicle rental		$	—		$	—		$	1,809	$	845	$	—		$	2,654
	Other		—			—			535		1,170		(666		)	1,039
Net revenues			—			—			2,344		2,015		(666		)	3,693

Expenses
	Operating		3			3			1,171		760		—			1,937
	Vehicle depreciation and lease charges, net		—			—			587		566		(290		)	863
	Selling, general and administrative		17			2			296		183		—			498
	Vehicle interest, net		—			—			88		121		(86		)	123
	Non-vehicle related depreciation and amortization		—			1			45		25		—			71
	Interest expense related to corporate debt, net:
		Interest expense	2			106			—		6		—			114
		Intercompany interest expense (income)	(6		)	(17		)	4		19		—			—
		Early extinguishment of debt	41			90			—		—		—			131
	Transaction-related costs		1			13			1		11		—			26
	Restructuring expense		—			—			16		9		—			25
Total expenses			58			198			2,208		1,700		(376		)	3,788
Income (loss) before income taxes and equity in earnings of subsidiaries			(58		)	(198		)	136		315		(290		)	(95		)
Provision for (benefit from) income taxes			(7		)	(75		)	48		13		—			(21		)
Equity in earnings (loss) of subsidiaries			(23		)	100			12		—		(89		)	—
Net income (loss)			$	(74	)	$	(23	)	$	100	$	302	$	(379	)	$	(74	)

Comprehensive income (loss)			$	(134	)	$	(82	)	$	41	$	245	$	(204	)	$	(134	)



			Parent			Subsidiary Issuers			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Total
Revenues
	Vehicle rental		$	—		$	—		$	1,677	$	825	$	—		$	2,502
	Other		1			—			512		976		(502		)	987
Net revenues			1			—			2,189		1,801		(502		)	3,489

Expenses
	Operating		—			3			1,128		716		—			1,847
	Vehicle depreciation and lease charges, net		—			—			383		423		(154		)	652
	Selling, general and administrative		10			—			282		160		—			452
	Vehicle interest, net		—			—			125		154		(126		)	153
	Non-vehicle related depreciation and amortization		—			1			37		24		—			62
	Interest expense related to corporate debt, net:
		Interest expense	5			128			—		9		—			142
		Intercompany interest expense (income)	(12		)	(155		)	140		27		—			—
		Early extinguishment of debt	39			11			—		—		—			50
	Transaction-related costs		3			—			—		7		—			10
	Restructuring expenses		—			—			—		19		—			19
Total expenses			45			(12		)	2,095		1,539		(280		)	3,387
Income (loss) before income taxes and equity in earnings of subsidiaries			(44		)	12			94		262		(222		)	102
Provision for (benefit from) income taxes			(4		)	6			34		10		—			46
Equity in earnings of subsidiaries			96			90			30		—		(216		)	—
Net income (loss)			$	56		$	96		$	90	$	252	$	(438	)	$	56

Comprehensive income			$	53		$	95		$	88	$	254	$	(437	)	$	53

Schedule Of Condensed Consolidating Balance Sheet Table [Text Block]

Consolidating Condensed Balance Sheets

As of June 30, 2013



		Parent		Subsidiary Issuers		Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Total
Assets
Current assets:
	Cash and cash equivalents	$	7	$	64	$	—	$	432		$	—		$	503
	Receivables, net	—		—		207		484			—			691
	Deferred income taxes	3		—		142		10			(2		)	153
	Other current assets	4		97		94		404			—			599
Total current assets		14		161		443		1,330			(2		)	1,946

Property and equipment, net		—		97		306		157			—			560
Deferred income taxes		19		1,161		156		—			(7		)	1,329
Goodwill		—		—		348		304			—			652
Other intangibles, net		—		42		527		333			—			902
Other non-current assets		103		83		19		140			—			345
Intercompany receivables (payables)		140		54		344		(538		)	—			—
Investment in subsidiaries		557		2,582		3,220		—			(6,359		)	—
Total assets exclusive of assets under vehicle programs		833		4,180		5,363		1,726			(6,368		)	5,734

Assets under vehicle programs:
	Program cash	—		—		—		139			—			139
	Vehicles, net	—		6		10		12,083			—			12,099
	Receivables from vehicle manufacturers and other	—		—		—		162			—			162
	Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		362			—			362
		—		6		10		12,746			—			12,762
Total assets		$	833	$	4,186	$	5,373	$	14,472		$	(6,368	)	$	18,496

Liabilities and stockholders’ equity
Current liabilities:
	Accounts payable and other current liabilities	$	15	$	251	$	611	$	726		$	(2	)	$	1,601
	Short-term debt and current portion of long-term debt	—		166		3		52			—			221
Total current liabilities		15		417		614		778			(2		)	1,822

Long-term debt		75		3,113		7		—			—			3,195
Other non-current liabilities		97		93		275		417			(7		)	875
Total liabilities exclusive of liabilities under vehicle programs		187		3,623		896		1,195			(9		)	5,892

Liabilities under vehicle programs:
	Debt	—		6		—		2,365			—			2,371
	Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		6,986			—			6,986
Deferred income taxes		—		—		1,895		179			—			2,074
Other		—		—		—		527			—			527
		—		6		1,895		10,057			—			11,958
Total stockholders’ equity		646		557		2,582		3,220			(6,359		)	646
Total liabilities and stockholders’ equity		$	833	$	4,186	$	5,373	$	14,472		$	(6,368	)	$	18,496

Consolidating Condensed Balance Sheets

As of June 30, 2013



		Parent		Subsidiary Issuers		Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Total
Assets
Current assets:
	Cash and cash equivalents	$	7	$	64	$	—	$	432		$	—		$	503
	Receivables, net	—		—		207		484			—			691
	Deferred income taxes	3		—		142		10			(2		)	153
	Other current assets	4		97		94		404			—			599
Total current assets		14		161		443		1,330			(2		)	1,946

Property and equipment, net		—		97		306		157			—			560
Deferred income taxes		19		1,161		156		—			(7		)	1,329
Goodwill		—		—		348		304			—			652
Other intangibles, net		—		42		527		333			—			902
Other non-current assets		103		83		19		140			—			345
Intercompany receivables (payables)		140		54		344		(538		)	—			—
Investment in subsidiaries		557		2,582		3,220		—			(6,359		)	—
Total assets exclusive of assets under vehicle programs		833		4,180		5,363		1,726			(6,368		)	5,734

Assets under vehicle programs:
	Program cash	—		—		—		139			—			139
	Vehicles, net	—		6		10		12,083			—			12,099
	Receivables from vehicle manufacturers and other	—		—		—		162			—			162
	Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		362			—			362
		—		6		10		12,746			—			12,762
Total assets		$	833	$	4,186	$	5,373	$	14,472		$	(6,368	)	$	18,496

Liabilities and stockholders’ equity
Current liabilities:
	Accounts payable and other current liabilities	$	15	$	251	$	611	$	726		$	(2	)	$	1,601
	Short-term debt and current portion of long-term debt	—		166		3		52			—			221
Total current liabilities		15		417		614		778			(2		)	1,822

Long-term debt		75		3,113		7		—			—			3,195
Other non-current liabilities		97		93		275		417			(7		)	875
Total liabilities exclusive of liabilities under vehicle programs		187		3,623		896		1,195			(9		)	5,892

Liabilities under vehicle programs:
	Debt	—		6		—		2,365			—			2,371
	Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		6,986			—			6,986
Deferred income taxes		—		—		1,895		179			—			2,074
Other		—		—		—		527			—			527
		—		6		1,895		10,057			—			11,958
Total stockholders’ equity		646		557		2,582		3,220			(6,359		)	646
Total liabilities and stockholders’ equity		$	833	$	4,186	$	5,373	$	14,472		$	(6,368	)	$	18,496



		Parent		Subsidiary Issuers		Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Total
Assets
Current assets:
	Cash and cash equivalents	$	5	$	102	$	—	$	499		$	—		$	606
	Receivables, net	—		—		156		397			—			553
	Deferred income taxes	3		1		138		4			—			146
	Other current assets	5		73		81		246			—			405
Total current assets		13		176		375		1,146			—			1,710

Property and equipment, net		—		90		276		163			—			529
Deferred income taxes		23		1,216		223		—			(8		)	1,454
Goodwill		—		—		74		301			—			375
Other intangibles, net		—		43		341		347			—			731
Other non-current assets		109		80		14		117			—			320
Intercompany receivables (payables)		142		141		174		(457		)	—			—
Investment in subsidiaries		723		2,030		3,293		—			(6,046		)	—
Total assets exclusive of assets under vehicle programs		1,010		3,776		4,770		1,617			(6,054		)	5,119

Assets under vehicle programs:
	Program cash	—		—		—		24			—			24
	Vehicles, net	—		7		13		9,254			—			9,274
	Receivables from vehicle manufacturers and other	—		—		—		439			—			439
	Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		362			—			362
		—		7		13		10,079			—			10,099
Total assets		$	1,010	$	3,783	$	4,783	$	11,696		$	(6,054	)	$	15,218

Liabilities and stockholders’ equity
Current liabilities:
	Accounts payable and other current liabilities	$	22	$	250	$	490	$	659		$	—		$	1,421
	Short-term debt and current portion of long-term debt	—		13		3		41			—			57
Total current liabilities		22		263		493		700			—			1,478

Long-term debt		128		2,712		8		—			—			2,848
Other non-current liabilities		103		79		277		420			(8		)	871
Total liabilities exclusive of liabilities under vehicle programs		253		3,054		778		1,120			(8		)	5,197

Liabilities under vehicle programs:
	Debt	—		4		—		1,599			—			1,603
	Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		5,203			—			5,203
	Deferred income taxes	—		—		1,975		188			—			2,163
	Other	—		2		—		293			—			295
		—		6		1,975		7,283			—			9,264
Total stockholders’ equity		757		723		2,030		3,293			(6,046		)	757
Total liabilities and stockholders’ equity		$	1,010	$	3,783	$	4,783	$	11,696		$	(6,054	)	$	15,218

Consolidating Condensed Statements Of Cash Flows



	Parent			Subsidiary Issuers			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
Net cash provided by (used in) operating activities	$	(2	)	$	45		$	(32	)	$	867		$	(4	)	$	874

Investing activities
Property and equipment additions	—			(11		)	(24		)	(21		)	—			(56		)
Proceeds received on asset sales	—			3			—			4			—			7
Net assets acquired, net of cash acquired	—			(513		)	16			21			—			(476		)
Other, net	—			(1		)	43			8			—			50
Net cash provided by (used in) investing activities exclusive of vehicle programs	—			(522		)	35			12			—			(475		)

Vehicle programs:
Increase in program cash	—			—			—			(111		)	—			(111		)
Investment in vehicles	—			(3		)	(1		)	(7,302		)	—			(7,306		)
Proceeds received on disposition of vehicles	—			2			—			4,432			—			4,434
	—			(1		)	(1		)	(2,981		)	—			(2,983		)
Net cash provided by (used in) investing activities	—			(523		)	34			(2,969		)	—			(3,458		)

Financing activities
Proceeds from long-term borrowings	—			2,725			—			—			—			2,725
Payments on long-term borrowings	(93		)	(2,243		)	(2		)	—			—			(2,338		)
Net change in short-term borrowings	—			—			—			10			—			10
Purchase of warrants	(29		)	—			—			—			—			(29		)
Proceeds from sale of call options	40			—			—			—			—			40
Net intercompany transactions	84			(14		)	—			(74		)	4			—
Debt financing fees	—			(28		)	—			—			—			(28		)
Other, net	2			—			—			—			—			2
Net cash provided by (used in) financing activities exclusive of vehicle programs	4			440			(2		)	(64		)	4			382

Vehicle programs:
Proceeds from borrowings	—			—			—			8,191			—			8,191
Payments on borrowings	—			—			—			(6,055		)	—			(6,055		)
Debt financing fees	—			—			—			(20		)	—			(20		)
	—			—			—			2,116			—			2,116
Net cash provided by (used in) financing activities	4			440			(2		)	2,052			4			2,498
Effect of changes in exchange rates on cash and cash equivalents	—			—			—			(17		)	—			(17		)
Net increase (decrease) in cash and cash equivalents	2			(38		)	—			(67		)	—			(103		)
Cash and cash equivalents, beginning of period	5			102			—			499			—			606
Cash and cash equivalents, end of period	$	7		$	64		$	—		$	432		$	—		$	503



	Parent			Subsidiary Issuers			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
Net cash provided by (used in) operating activities	$	(45	)	$	52		$	27		$	689		$	(1	)	$	722

Investing activities
Property and equipment additions	—			(13		)	(16		)	(20		)	—			(49		)
Proceeds received on asset sales	—			4			3			6			—			13
Net assets acquired, net of cash acquired	—			—			—			(5		)	—			(5		)
Other, net	4			(2		)	(1		)	(3		)	—			(2		)
Net cash provided by (used in) investing activities exclusive of vehicle programs	4			(11		)	(14		)	(22		)	—			(43		)

Vehicle programs:
Increase in program cash	—			—			—			(61		)	—			(61		)
Investment in vehicles	—			(1		)	(11		)	(6,926		)	—			(6,938		)
Proceeds received on disposition of vehicles	—			3			1			4,073			—			4,077
	—			2			(10		)	(2,914		)	—			(2,922		)
Net cash provided by (used in) investing activities	4			(9		)	(24		)	(2,936		)	—			(2,965		)

Financing activities
Proceeds from long-term borrowings	—			654			—			—			—			654
Payments on long-term borrowings	(201		)	(651		)	(1		)	—			—			(853		)
Net change in short-term borrowings	—			—			—			(1		)	—			(1		)
Purchase of warrants	(26		)	—			—			—			—			(26		)
Proceeds from sale of call options	38			—			—			—			—			38
Net intercompany transactions	231			(232		)	(1		)	1			1			—
Debt financing fees	—			(9		)	—			—			—			(9		)
Net cash provided by (used in) financing activities exclusive of vehicle programs	42			(238		)	(2		)	—			1			(197		)

Vehicle programs:
Proceeds from borrowings	—			—			—			7,172			—			7,172
Payments on borrowings	—			—			—			(4,802		)	—			(4,802		)
Debt financing fees	—			—			—			(11		)	—			(11		)
	—			—			—			2,359			—			2,359
Net cash provided by (used in) financing activities	42			(238		)	(2		)	2,359			1			2,162
Effect of changes in exchange rates on cash and cash equivalents	—			—			—			1			—			1
Net increase (decrease) in cash and cash equivalents	1			(195		)	1			113			—			(80		)
Cash and cash equivalents, beginning of period	2			234			1			297			—			534
Cash and cash equivalents, end of period	$	3		$	39		$	2		$	410		$	—		$	454

Basis Of Presentation And Recently Issued Accounting Pronouncements (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Organization And Summary Of Significant Accounting Policies [Line Items]
Net unrealized gain or loss on foreign-currency transactions of intercompany loan hedges	$ 3	$ 3	$ 7	$ 9

Restructuring (Narrative) (Detail) $ in Millions	3 Months Ended		6 Months Ended
Restructuring (Narrative) (Detail) $ in Millions	Jun. 30, 2013 USD ($)	Jun. 30, 2012 USD ($)	Jun. 30, 2013 USD ($)	Jun. 30, 2012 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 15	$ 12	$ 25	$ 19
Number of employees terminated during the period			150
Truck Rental [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			$ 13
Restructuring and Related Cost, Expected Cost	9
Worldwide Restructuring Initiative [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			$ 12
Restructuring and Related Cost, Expected Cost	$ 22
Number of employees terminated during the period			240

Restructuring (Summary Of Changes To Restructuring-Related Liabilities) (Detail) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

$ 13

$ 15

$ 12

$ 19

North America [Member]

(2)

International [Member]

(13)

Truck Rental [Member]

^[1]

(13)

Personnel Related [Member]

^[1]

Facility Related [Member]

Other Restructuring [Member]

$ 2

^[1]

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

^[1]

$ (13)

[1]	(a) Includes expenses related to the disposition of vehicles.

Earnings Per Share (Computation Of Basic And Diluted Earnings Per Share) (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

$ (28)

$ 79

$ (74)

$ 56

Interest on Convertible Debt, Net of Tax

Net Income (Loss) Available to Common Stockholders, Diluted

$ (28)

$ 80

$ (74)

$ 59

Weighted Average Number of Shares Outstanding, Basic

108.4

106.7

108.0

106.3

Weighted Average Number Diluted Shares Outstanding Adjustment

^[1],[2]

0.0

1.8

0.0

1.9

Incremental Common Shares Attributable to Conversion of Debt Securities

^[3]

0.0

13.4

0.0

16.6

Weighted Average Number of Shares Outstanding, Diluted

108.4

121.9

108.0

124.8

Basic (US$ per share)

$ (0.26)

$ 0.74

$ (0.69)

$ 0.52

Diluted (US$ per share)

$ (0.26)

$ 0.66

$ (0.69)

$ 0.47

Warrants [Member]

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

Shares Underlying 3 1/2% Convertible Notes [Member]

4.6

8.9

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

Restricted Stock Units (RSUs) [Member]

4.6

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

3.5

1.2

Options [Member]

1.2

0.2

[1]	As the Company incurred a net loss for the three and six months ended June 30, 2013, 1.2 million outstanding options, 4.6 million warrants and 3.5 million non-vested stock awards have an anti-dilutive effect and therefore are excluded from the computation of diluted weighted average shares outstanding.
[2]	For the three and six months ended June 30, 2012, 0.2 million outstanding options, 8.9 million warrants and 1.2 million non-vested stock awards have an anti-dilutive effect and therefore are excluded from the computation of diluted weighted average shares outstanding.
[3]	As the Company incurred a net loss for the three and six months ended June 30, 2013, 4.6 million issuable shares underlying the 3½% convertible notes due 2014 have an anti-dilutive effect and therefore are excluded from the computation of diluted weighted average shares outstanding.

Earnings Per Share (Outstanding Common Stock Equivalents That Were Anti-Dilutive) (Detail) - shares shares in Millions	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares	1.2	0.2
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares	4.6	8.9
Shares Underlying 3 1/2% Convertible Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares	4.6

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Finite And Indefinite Lived Intangible Assets [Line Items]

Earnings Per Share (Outstanding Common Stock Equivalents That Were Anti-Dilutive) (Parenthetical) (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Exercise price for warrants outstanding	$ 22.5	$ 22.5
3 1/2% Convertible Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Convertible senior notes interest percentage	3.50%	3.50%

Acquisitions (Narrative) (Detail) $ in Millions	3 Months Ended	6 Months Ended
Acquisitions (Narrative) (Detail) $ in Millions	Jun. 30, 2013 USD ($)	Jun. 30, 2013 USD ($)
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Business Acquisition, Purchase Price Allocation, Intangible Assets Other than Goodwill	$ 190	$ 190
Customer Relationships	$ 78	78
Zipcar [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Date of acquisition	Mar. 14, 2013
Acquisition purchase price	$ 473	473
Business Acquisition, Purchase Price Allocation, Intangible Assets Other than Goodwill	112	112
Business Acquisition, Purchase Price Allocation, Goodwill Amount	$ 275	$ 275
Other intangibles, useful life, in years		8 years
Apex [Member]
Business Acquisition, Equity Interests Issued or Issuable [Line Items]
Date of acquisition	Oct. 01, 2012
Business Acquisition, Purchase Price Allocation, Intangible Assets Other than Goodwill	$ 21	$ 21
Business Acquisition, Purchase Price Allocation, Goodwill Amount	$ 16	$ 16
Number Of Vehicles	4,000	4,000
Business Acquisition, Cost of Acquired Entity, Cash Paid	$ 63	$ 63
Business Acquisition, Contingent Consideration, Potential Cash Payment	9	9
Business Acquisition, Contingent Consideration, Potential Cash Payment	26	26
Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment	$ 33	$ 33

Other Current Assets - (Schedule of Other Current Assets) (Detail) - USD ($) $ in Millions	Jun. 30, 2013	Dec. 31, 2012
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Sales and use tax	$ 246	$ 108
Prepaid expenses	199	174
Other	154	123
Total other current assets	$ 599	$ 405

Intangible Assets (Schedule Of Intangible Assets) (Detail) - USD ($)
$ in Millions

Jun. 30, 2013

Dec. 31, 2012

Amortized Intangible Assets, Accumulated Amortization

$ 420

$ 345

Unamortized Intangible Assets, Goodwill, Gross Carrying Amount

348

286

652

375

License Agreements [Member]

Finite And Indefinite Lived Intangible Assets [Line Items]

Amortized Intangible Assets, Accumulated Amortization

254

257

Customer Relationships [Member]

209

218

Finite And Indefinite Lived Intangible Assets [Line Items]

Amortized Intangible Assets, Accumulated Amortization

^[1]

164

^[1]

Other Intangible Assets [Member]

^[1]

138

Finite And Indefinite Lived Intangible Assets [Line Items]

Amortized Intangible Assets, Accumulated Amortization

Finite And Indefinite Lived Intangible Assets [Line Items]

Goodwill [Member]

Unamortized Intangible Assets, Goodwill, Gross Carrying Amount

^[1]

652

375

Trademarks [Member]

Finite And Indefinite Lived Intangible Assets [Line Items]

Unamortized Intangible Assets, Trademarks, Gross Carrying Amount

^[1]

$ 554

$ 445

[1]	The increases in carrying amounts primarily relate to the acquisition of Zipcar.

Intangible Assets (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Finite-Lived Intangible Assets [Line Items]
Amortization expense relating to all intangible assets	$ 7	$ 4	$ 12	$ 10
Amortization expense for remainder of the year	14		14
Intangible assets amortization expense, year one	28		28
Intangible assets amortization expense, year two	28		28
Intangible assets amortization expense, year three	28		28
Intangible assets amortization expense, year four	28		28
Intangible assets amortization expense, year five	$ 28		$ 28

Financial Instruments (Schedule Of Carrying Amounts And Estimated Fair Values) (Detail) - USD ($)
$ in Millions

Jun. 30, 2013

Dec. 31, 2012

Short-term debt and current portion of long-term debt

$ 221

$ 57

Carrying (Reported) Amount, Fair Value Disclosure [Member]

Short-term debt and current portion of long-term debt

221

Long-term debt, excluding convertible debt

3,120

2,720

Convertible debt

128

Debt under vehicle programs Vehicle-backed debt due to Avis Budget Rental Car Funding (AESOP) LLC

6,986

5,203

Vehicle-backed debt

2,363

1,599

Interest rate swaps and interest rate contracts

^[1]

Estimate Of Fair Value, Fair Value Disclosure [Member]

Short-term debt and current portion of long-term debt

^[2]

221

Long-term debt, excluding convertible debt

^[2]

3,193

2,903

Convertible debt

^[2]

138

171

Debt under vehicle programs Vehicle-backed debt due to Avis Budget Rental Car Funding (AESOP) LLC

^[2]

7,085

5,391

Vehicle-backed debt

^[2]

2,370

1,613

Interest rate swaps and interest rate contracts

^[1],[2]

$ 8

$ 4

[1]	Derivatives in a liability position.
[2]	The fair value measurements are based on significant observable inputs (Level 2).

Financial Instruments (Narrative) (Detail)
gal in Millions, $ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2013

USD ($)

gal

Jun. 30, 2012

USD ($)

Jun. 30, 2013

USD ($)

gal

Jun. 30, 2012

USD ($)

Schedule of Cost-method Investments [Line Items]

Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax

$ 3

Cash posted as collateral for derivatives in a liability position

$ 5

Derivative Instruments, Gain (Loss) Recognized in Income, Net

^[1]

$ 2

$ 6

Interest Rate Caps [Member]

Schedule of Cost-method Investments [Line Items]

Interest Rate Caps [Member] | Interest Rate Caps Purchased [Member]

^[2]

6,798

Schedule of Cost-method Investments [Line Items]

Interest Rate Caps [Member] | Interest Rate Caps Purchased [Member] | Subsidiary Issuers [Member]

2,200

Schedule of Cost-method Investments [Line Items]

Interest Rate Caps [Member] | Interest Rate Caps Sold [Member]

2,400

Schedule of Cost-method Investments [Line Items]

Interest Rate Swaps [Member]

4,600

Schedule of Cost-method Investments [Line Items]

Foreign Exchange Contracts [Member]

793

Schedule of Cost-method Investments [Line Items]

Commodity Contracts [Member]

$ 554

Schedule of Cost-method Investments [Line Items]

Units Of Gasoline | gal

Foreign Exchange Contract [Member]

Schedule of Cost-method Investments [Line Items]

Not Designated As Hedging Instruments [Member] | Foreign Exchange Contracts [Member]

$ 492

Schedule of Cost-method Investments [Line Items]

Derivative Instruments, Gain (Loss) Recognized in Income, Net

^[3]

Not Designated As Hedging Instruments [Member] | Commodity Contracts [Member]

Schedule of Cost-method Investments [Line Items]

Derivative Instruments, Gain (Loss) Recognized in Income, Net

^[4]

(2)

$ (5)

$ 1

Interest Expense [Member] | Not Designated As Hedging Instruments [Member] | Foreign Exchange Contracts [Member]

Schedule of Cost-method Investments [Line Items]

Derivative Instruments, Gain (Loss) Recognized in Income, Net

Operating Expense [Member] | Not Designated As Hedging Instruments [Member] | Foreign Exchange Contracts [Member]

Schedule of Cost-method Investments [Line Items]

Derivative Instruments Gain Loss Recognized In Operations

$ 4

$ 6

[1]	Gains (losses) related to derivative instruments are expected to be largely offset by (losses) gains on the underlying exposures being hedged.
[2]	Represents $4.6 billion of interest rate caps sold, partially offset by approximately $2.2 billion of interest rate caps purchased, which amount excludes $2.4 billion of interest rate caps purchased by the Company’s Avis Budget Rental Car Funding (AESOP) LLC (“Avis Budget Rental Car Funding”) subsidiary.
[3]	For the three months ended June 30, 2013, included a $30 million gain in interest expense and a $4 million gain in operating expenses. For the six months ended June 30, 2013, included a $29 million gain in interest expense and a $6 million gain in operating expenses. For the three and six months ended June 30, 2012, amounts were included in operating expenses.
[4]	Included in operating expense.

Financial Instruments (Fair Values Of Derivatives Instruments) (Detail) - USD ($)
$ in Millions

Jun. 30, 2013

Dec. 31, 2012

Schedule of Cost-method Investments [Line Items]

$ 27

$ 3

Designated As Hedging Instruments [Member] | Interest Rate Swaps [Member]

Schedule of Cost-method Investments [Line Items]

^[1]

Not Designated As Hedging Instruments [Member] | Interest Rate Swaps [Member]

^[1]

Schedule of Cost-method Investments [Line Items]

^[1]

Not Designated As Hedging Instruments [Member] | Foreign Exchange Contracts [Member]

^[1]

Schedule of Cost-method Investments [Line Items]

^[2]

Not Designated As Hedging Instruments [Member] | Interest Rate Contracts [Member]

^[2]

Schedule of Cost-method Investments [Line Items]

^[3]

Not Designated As Hedging Instruments [Member] | Commodity Contracts [Member]

^[3]

Schedule of Cost-method Investments [Line Items]

Schedule of Cost-method Investments [Line Items]

$ 0

[1]	Included in other non-current liabilities.
[2]	Included in other current assets and other current liabilities.
[3]	Included in assets under vehicle programs and liabilities under vehicle programs.

Financial Instruments (Schedule Of Effect Of Derivatives Recognized) (Detail) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Designated As Hedging Instruments [Member] | Interest Rate Swaps [Member]

^[1]

$ 37

$ 2

$ 43

$ 6

Schedule of Cost-method Investments [Line Items]

Interest rate swaps

^[2]

Not Designated As Hedging Instruments [Member] | Foreign Exchange Contracts [Member]

Schedule of Cost-method Investments [Line Items]

Not Designated As Hedging Instruments [Member] | Commodity Contracts [Member]

^[3]

Schedule of Cost-method Investments [Line Items]

Not Designated As Hedging Instruments [Member] | Interest Rate Contracts [Member]

^[4]

(2)

(5)

Schedule of Cost-method Investments [Line Items]

Interest Expense [Member] | Not Designated As Hedging Instruments [Member] | Foreign Exchange Contracts [Member]

^[5]

$ (3)

$ (8)

Schedule of Cost-method Investments [Line Items]

Operating Expense [Member] | Not Designated As Hedging Instruments [Member] | Foreign Exchange Contracts [Member]

Schedule of Cost-method Investments [Line Items]

Derivative Instruments Gain Loss Recognized In Operations

$ 4

$ 6

[1]	Gains (losses) related to derivative instruments are expected to be largely offset by (losses) gains on the underlying exposures being hedged.
[2]	Recognized, net of tax, as a component of other comprehensive income within stockholders’ equity.
[3]	For the three months ended June 30, 2013, included a $30 million gain in interest expense and a $4 million gain in operating expenses. For the six months ended June 30, 2013, included a $29 million gain in interest expense and a $6 million gain in operating expenses. For the three and six months ended June 30, 2012, amounts were included in operating expenses.
[4]	Included in operating expense.
[5]	Included in interest expense.

Vehicle Rental Activities (Components Of The Company's Vehicles) (Detail) - USD ($) $ in Millions	Jun. 30, 2013	Dec. 31, 2012
Vehicle Rental Activities [Abstract]
Rental vehicles	$ 13,263	$ 10,000
Less: Accumulated depreciation	(1,381)	(1,345)
Rental Vehicles Net, Total	11,882	8,655
Vehicles held for sale	217	619
Vehicles, net	$ 12,099	$ 9,274

Vehicle Rental Activities (Components Of Vehicle Depreciation And Lease Charges) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Vehicle Rental Activities [Abstract]
Depreciation expense	$ 455	$ 363	$ 808	$ 694
Lease charges	23	30	57	57
Gain on sales of vehicles, net and cost of vehicle disposition	(2)	(59)	(2)	(99)
Vehicle Depreciation And Lease Charges Net			863	652
Cost of Services, Depreciation	$ 476	$ 334	$ 863	$ 652

Income Taxes (Narrative) (Detail)	6 Months Ended
Income Taxes (Narrative) (Detail)	Jun. 30, 2013	Jun. 30, 2012
Income Tax Disclosure [Abstract]
Effective tax benefit rate	22.10%	45.10%
Federal statutory rate	35.00%	35.00%

Accounts Payable And Other Current Liabilities (Schedule Of Accounts Payable And Other Current Liabilities) (Detail) - USD ($) $ in Millions	Jun. 30, 2013	Dec. 31, 2012
Payables and Accruals [Abstract]
Accounts payable	$ 376	$ 309
Accrued sales and use taxes	171	148
Accrued payroll and related	179	198
Public liability and property damage insurance liabilities - current	138	60
Deferred income - current	129	132
Advertising and marketing	88	82
Income taxes payable - current	47	58
Other	473	434
Accounts payable and other current liabilities	$ 1,601	$ 1,421

Long-Term Debt And Borrowing Arrangements (Schedule Of Long-Term Debt) (Detail) - USD ($)
$ in Millions

3 Months Ended

Jun. 30, 2013

Dec. 31, 2012

Jun. 30, 2012

Long-term Debt, Current Maturities

$ 71

$ 63

Long-term Debt

3,416

2,905

221

Floating Rate Notes [Member]

$ 3,195

2,848

2.78%

$ 150

^[1]

250

3 1/2% Convertible Notes [Member]

May 2014

$ 75

^[2]

128

3.50%

3 1/2% Convertible Notes [Member] | Long Term Borrowings [Member] | Convertible Note [Member]

October 2014

Floating Rate Term Loan Due May Two Thousand Sixteen [Member]

3.50%

3.28%

$ 47

^[3],[4]

Four And Seven Over Eight Senior Notes [Member]

May 2016

$ 300

300

Four And Seven Over Eight Senior Notes [Member] | Long Term Borrowings [Member]

November 2017

4.875%

9 5/8% Notes [Member]

$ 0

446

9 5/8% Notes [Member] | Long Term Borrowings [Member]

March 2018

9.625%

8 1/4% Notes [Member]

$ 730

730

8 1/4% Notes [Member] | Long Term Borrowings [Member]

January 2019

Floating Rate Term Loan Due March Two Thousand Nineteen [Member]

8.25%

30.00%

$ 994

^[4],[5]

689

March 2019

9 3/4% Notes [Member]

$ 224

250

9 3/4% Notes [Member] | Long Term Borrowings [Member]

March 2020

Six Euro-Denominated Senior Notes [Member]

9.75%

$ 325

Six Euro-Denominated Senior Notes [Member] | Long Term Borrowings [Member]

March 2021

Five And One Over Two Senior Notes [Member]

6.00%

$ 500

$ 0

April 2023

Long-term Debt [Member]

Revolving Credit Facility Maturing Two Thousand Sixteen [Member]

$ 3,345

$ 2,842

Revolving Credit Facility Maturing Two Thousand Sixteen [Member]

3.00%

[1]	As of June 30, 2013, the floating rate notes due 2014 bear interest at three-month LIBOR, plus 250 basis points, for an aggregate rate of 2.78%.
[2]	As of June 30, 2013, the 3½% convertible notes are convertible by the holders into approximately 5 million shares of the Company’s common stock.
[3]	As of June 30, 2013, the floating rate term loan due 2016 bears interest at three-month LIBOR, plus 300 basis points, for an aggregate rate of 3.28%.
[4]	The floating rate term loans are part of the Company’s senior credit facility, which also includes its revolving credit facility maturing 2016, and are secured by pledges of all of the capital stock of all of the Company’s direct or indirect domestic subsidiaries and 65% of the capital stock of each direct foreign subsidiary, subject to certain exceptions, and liens on substantially all of the Company’s intellectual property and certain other real and personal property.
[5]	As of June 30, 2013, the floating term rate loan due 2019 bears interest at the greater of three-month LIBOR or 0.75%, plus 225 basis points, for an aggregate rate of 3.00%.

Long-Term Debt And Borrowing Arrangements (Schedule Of Long-Term Debt) (Parenthetical) (Detail) shares in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2013 shares	Jun. 30, 2013 shares
Debt Instrument [Line Items]
Revolving credit facility, maturity period	2016	2016
Convertible number of common stock shares	5	5
Floating Rate Notes [Member]
Debt Instrument [Line Items]
Basis spread over variable rate	2.78%	2.78%
Floating Rate Term Loan Due May Two Thousand Sixteen [Member]
Debt Instrument [Line Items]
Basis spread over variable rate	3.28%	3.28%
Floating Rate Term Loan Due March Two Thousand Nineteen [Member]
Debt Instrument [Line Items]
Basis spread over variable rate	30.00%	30.00%
Floating rate		0.75%
Long Term Borrowings [Member]
Debt Instrument [Line Items]
Percentage Of Capital Stock Of Direct Foreign Subsidiary Secured By Pledges	65.00%

Long-Term Debt And Borrowing Arrangements (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Apr. 30, 2013
Debt Instrument [Line Items]
Proceeds from issue of senior notes			$ 250
Convertible senior note principal amount			53
Convertible notes purchase price			93
Tender Offer Paid on Notes					$ 398
Redemption of 9.625% Notes	$ 139		139
Early Debt Extinguishment	$ 91	$ 23	131	$ 50
Five And One Over Two Senior Notes [Member]
Debt Instrument [Line Items]
Proceeds from issue of senior notes			$ 500
Uncommitted Credit Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Credit facilities bearing interest			0.44%
Uncommitted Credit Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Credit facilities bearing interest			8.22%
9 5/8% Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Decrease, Repayments			$ 450
9 3/4% Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Decrease, Repayments			26
Floating Rate Term Loan Due March Two Thousand Nineteen [Member]
Debt Instrument [Line Items]
Increase in borrowing through the term loan			300
Floating Rate Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Decrease, Repayments			$ 100

Long-Term Debt And Borrowing Arrangements (Schedule Of Committed Credit Facilities) (Detail)
$ in Millions

Jun. 30, 2013

USD ($)

Line of Credit Facility [Line Items]

$ 1,500

^[1]

^[1]

Letters of Credit Issued

1,069

^[1]

Other Facilities [Member]

431

^[1]

Line of Credit Facility [Line Items]

^[2]

^[2]

Letters of Credit Issued

^[2]

Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]

$ 10

^[2]

[1]

[2]

These facilities encompass bank overdraft lines of credit, bearing interest of 4.50% to 5.80% as of June 30, 2013.

Long-Term Debt And Borrowing Arrangements (Schedule Of Committed Credit Facilities) (Parenthetical) (Detail) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2013 USD ($)	Jun. 30, 2013 USD ($)
Uncommitted Credit Facility [Member]
Line of Credit Facility [Line Items]
Amounts drawn under uncommitted credit facilities	$ 50	$ 50
Minimum [Member] \| Bank Overdraft [Member]
Line of Credit Facility [Line Items]
Credit facilities bearing interest		4.50%
Minimum [Member] \| Uncommitted Credit Facility [Member]
Line of Credit Facility [Line Items]
Credit facilities bearing interest		0.44%
Maximum [Member] \| Bank Overdraft [Member]
Line of Credit Facility [Line Items]
Credit facilities bearing interest		5.80%
Maximum [Member] \| Uncommitted Credit Facility [Member]
Line of Credit Facility [Line Items]
Credit facilities bearing interest		8.22%
Long Term Borrowings [Member]
Line of Credit Facility [Line Items]
Percentage Of Capital Stock Of Direct Foreign Subsidiary Secured By Pledges	65.00%
Long Term Borrowings [Member] \| Revolving Credit Facility Maturing Two Thousand Sixteen [Member]
Line of Credit Facility [Line Items]
Percentage Of Capital Stock Of Direct Foreign Subsidiary Secured By Pledges	65.00%

Debt Under Vehicle Programs And Borrowing Arrangements (Narrative) (Detail) - 6 months ended Jun. 30, 2013 € in Millions, $ in Millions	EUR (€)	USD ($)
Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]
Newly Issued European Credit Facility	€ 650	$ 500

Debt Under Vehicle Programs And Borrowing Arrangements (Schedule Of Debt Under Vehicle Programs) (Detail) - USD ($)
$ in Millions

Jun. 30, 2013

Dec. 31, 2012

Debt Due To Avis Budget Rental Car Funding (Member)

$ 9,357

$ 6,806

Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]

Canada Debt Borrowings [Member] [Domain]

^[1]

6,986

5,203

Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]

International Debt Borrowings [Domain]

^[1]

631

^[2]

353

Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]

International Capital Leases [Domain]

^[1]

912

^[3]

679

Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]

Budget Truck Financing (Member)

^[1]

455

315

Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]

Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]

257

253

Other (Member)

Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]

$ 116

$ 3

[1]	The increase principally reflects increased borrowing to fund a seasonal increase in the size of the Company’s car rental fleet.
[2]	The outstanding debt is collateralized by $833 million of underlying vehicles and related assets.
[3]	The outstanding debt is collateralized by approximately $1.3 billion of underlying vehicles and related assets.

Debt Under Vehicle Programs And Borrowing Arrangements (Schedule Of Contractual Maturities) (Detail)
$ in Millions

Jun. 30, 2013

USD ($)

Vehicle Program Debt Amount Outstanding

$ 9,357

Vehicle backed debt [Member]

Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]

Within 1 year

942

^[1]

Between 1 and 2 years

4,081

Between 2 and 3 years

1,367

Between 3 and 4 years

1,406

Between 4 and 5 years

1,076

Thereafter

485

Vehicle Program Debt Amount Outstanding

9,357

Asset-Backed Securities, at Carrying Value

545

Bank-sponsored borrowings

$ 397

[1]	Vehicle-backed debt maturing within one year includes term asset-backed securities of approximately $545 million and bank and bank-sponsored borrowings of $397 million.

Debt Under Vehicle Programs And Borrowing Arrangements (Schedule Of Available Funding Under The Vehicle Programs) (Detail) - USD ($)
$ in Millions

Jun. 30, 2013

Dec. 31, 2012

Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]

^[1]

$ 10,260

9,357

903

Debt Due To Avis Budget Rental Car Funding (Member)

9,357

$ 6,806

Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]

^[1],[2]

7,291

^[2]

6,986

^[2]

305

Leasing vehicles and related assets, pledged as collateralized debt

^[3]

6,986

5,203

8,700

Canada Debt Borrowings [Member] [Domain]

Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]

^[1],[4]

727

^[4]

Leasing vehicles and related assets, pledged as collateralized debt

^[3]

631

^[4]

353

833

International Debt Borrowings [Domain]

Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]

^[1],[5]

1,321

^[5]

409

Leasing vehicles and related assets, pledged as collateralized debt

^[3]

912

^[5]

679

1,300

International Capital Leases [Domain]

Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]

^[1]

527

Budget Truck Financing (Member)

^[3]

455

315

Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]

^[1],[6]

259

^[6]

257

^[6]

Leasing vehicles and related assets, pledged as collateralized debt

257

253

432

European Rental Fleet Securitization [Member]

Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]

Leasing vehicles and related assets, pledged as collateralized debt

182

Other (Member)

Debt Under Vehicle Programs And Borrowing Arrangements [Line Items]

^[1],[7]

135

^[7]

116

^[7]

$ 116

$ 3

[1]	Capacity is subject to maintaining sufficient assets to collateralize debt.
[2]	The outstanding debt is collateralized by approximately $8.7 billion of underlying vehicles and related assets.
[3]	The increase principally reflects increased borrowing to fund a seasonal increase in the size of the Company’s car rental fleet.
[4]	The outstanding debt is collateralized by $833 million of underlying vehicles and related assets.
[5]	The outstanding debt is collateralized by approximately $1.3 billion of underlying vehicles and related assets.
[6]	The outstanding debt is collateralized by $432 million of underlying vehicles and related assets.
[7]	The outstanding debt is collateralized by $182 million of underlying vehicles and related assets.

Commitments And Contingencies (Narrative) (Detail) - USD ($) $ in Millions	1 Months Ended		3 Months Ended
	Jun. 30, 2010	Oct. 31, 2009	Mar. 31, 2013	Jun. 30, 2013
Schedule Of Commitments And Contingencies [Line Items]
Percentage of payment on defaulting party's obligation on assumed liabilities			50.00%
Claims paid on breach of contract	$ 3	$ 16
Lawsuit, filed year		2003
Purchase obligation over the next twelve months				$ 2,500
Aggregate purchase obligations				177
Realogy [Member]
Schedule Of Commitments And Contingencies [Line Items]
Percentage of assumption of contingent and other corporate liabilities			62.50%
Receivables due from former subsidiaries				61
Wyndham [Member]
Schedule Of Commitments And Contingencies [Line Items]
Percentage of assumption of contingent and other corporate liabilities			37.50%
Receivables due from former subsidiaries				38
Realogy, Wyndham And Travelport [Member] \| Real Estate Leases [Member]
Schedule Of Commitments And Contingencies [Line Items]
Maximum potential amount of future payments under guarantees				68
Liability recorded in connection with guarantees				$ 2

Stockholders' Equity (Narrative) (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Stockholders Equity [Line Items]
Repurchased warrants for the purchase of the Company's common stock			$ 29	$ 26
Proceeds from sale of convertible note hedge			40	38
Net unrealized gains (losses) on cash flow hedges	$ 1		1		$ 0
Company's Vehicle-Backed Debt And Floating Rate Debt [Member]
Stockholders Equity [Line Items]
Net unrealized gain (losses) on cash flow hedges, before tax		$ 4	1	11
Floating rate vehicle-backed and corporate debt [Member]
Stockholders Equity [Line Items]
Net unrealized gain (losses) on cash flow hedges, before tax	$ 7		$ 1	$ 19
3 1/2% Convertible Notes [Member]
Stockholders Equity [Line Items]
Senior notes interest percentage	3.50%	3.50%	3.50%	3.50%
Change in net purchase and issuance of shares			3
Convertible Notes [Member] \| 3 1/2% Convertible Notes [Member]
Stockholders Equity [Line Items]
Senior notes interest percentage	3.50%		3.50%

Stockholders' Equity (Accumulated Other Comprehensive Income) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Currency Translation Adjustments, Balance			$ 193
Net Unrealized Gains (Losses) on Cash Flow Hedges, Balance			0
Net Unrealized Gains on Available- For-Sale Securities, Balance			2
Currency Translation Adjustments, Balance			(85)
Accumulated Other Comprehensive Income, Balance			110
Currency Translation Adjustments, Current period change	$ (37)	$ (49)	(60)	$ (12)
Net Unrealized Gains (Losses) on Cash Flow Hedges, Current period change	1	4	1	11
Available-for-sale Securities, Gross Realized Gain (Loss)				(1)
Net unrealized gains on available-for-sale securities, net of tax	(1)	(2)	(1)	(2)
Accumulated Other Comprehensive Income, Current period change	(37)	$ (47)	(60)	$ (3)
Currency Translation Adjustments, Balance	133		133
Net Unrealized Gains (Losses) on Cash Flow Hedges, Balance	1		1
Net Unrealized Gains on Available- For-Sale Securities, Balance	1		1
Currency Translation Adjustments, Balance	(85)		(85)
Accumulated Other Comprehensive Income, Balance	$ 50		$ 50

Stockholders' Equity (Components Of Other Comprehensive Income) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Equity [Abstract]
Net loss	$ (28)	$ 79	$ (74)	$ 56
Currency translation adjustment	(37)	(49)	(60)	(12)
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax	(1)	(2)	(1)	(2)
Net unrealized gains on cash flow hedges, net of tax	1	4	1	11
Accumulated Other Comprehensive Income, Current period change	(37)	(47)	(60)	(3)
Total comprehensive income	$ (65)	$ 32	$ (134)	$ 53

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

Before tax and net of reclassification adjustments of the change in the balance sheet adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity. Also includes the following: gain (loss) on foreign currency forward exchange contracts; foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; and gain (loss) on a derivative instrument or nonderivative financial instrument that may give rise to a foreign currency transaction gain (loss) that has been designated and qualified as a hedging instrument for hedging of the foreign currency exposure of a net investment in a foreign operation.

Net of tax amount of other comprehensive income (loss) attributable to the parent entity.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(3)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 30
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 29
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Net of tax amount, before reclassification adjustments, of the change in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Also includes an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss).

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
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-Paragraph 10A
-Subparagraph (d)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Topic 815
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Paragraph 4C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 121
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 46
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 24
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
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-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591551-111686

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 29
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A1, A4, A5
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-Based Compensation (Narrative) (Detail) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013 USD ($) $ / shares shares	Jun. 30, 2012 USD ($)	Jun. 30, 2013 USD ($) $ / shares shares	Jun. 30, 2012 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Business Acquisition, Purchase Price Allocation, Intangible Assets Other than Goodwill	$ 190		$ 190
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate			43.00%	49.00%
Risk Free Interest Rate, Minimum			0.39%
Risk Free Interest Rate, Maximum				0.42%
Valuation Period Range Maximum In Years			3 years	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate			0.00%	0.00%
Stock-based compensation expense	5	$ 4	$ 9	$ 8
Stock-based compensation expense (net of tax)	3	$ 2	6	$ 5
Employee service share based compensation incremental tax benefit to be realized from exercise of stock awards	$ 12		$ 12
Restricted Cash Units Outstanding \| shares	268,000		268,000
Customer Relationships	$ 78		$ 78
Time-based vesting schedule [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of restricted stock units which contain three-year vesting periods \| $ / shares			$ 21.73
Market-based vesting schedule [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of restricted stock units which contain three-year vesting periods \| $ / shares	$ 17.14			$ 10.59
Performance-Based Vesting Schedule [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of restricted stock units which contain three-year vesting periods \| $ / shares	$ 20.64
Restricted Cash Units (RCUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining contractual life (in years)	1 year 10 months 24 days
Restricted Cash Units (RCUs) [Member] \| Time-based vesting schedule [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted at fair market value (in number of RSUs) \| shares			25,000
Fair Value of Time-Based Restricted Cash Units \| $ / shares			$ 21.20
Restricted Cash Units (RCUs) [Member] \| Market-based vesting schedule [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted at fair market value (in number of RSUs) \| shares			87,000
Fair Value of Market-Vesting Restricted Cash Units \| $ / shares			$ 17.14
Restricted Stock Units (RSUs) [Member] \| Time-based vesting schedule [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted at fair market value (in number of RSUs) \| shares			635,000
Restricted Stock Units (RSUs) [Member] \| Market-based vesting schedule [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted at fair market value (in number of RSUs) \| shares			87,000
Restricted Stock Units (RSUs) [Member] \| Performance-Based Vesting Schedule [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted at fair market value (in number of RSUs) \| shares			395,000
Zipcar [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Business Acquisition, Purchase Price Allocation, Intangible Assets Other than Goodwill	$ 112		$ 112
Business Acquisition, Purchase Price Allocation, Goodwill Amount	$ 275		$ 275
Finite-Lived Intangible Asset, Useful Life			8 years
Business Acquisition, Effective Date of Acquisition	Mar. 14, 2013
Apex [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Business Acquisition, Purchase Price Allocation, Intangible Assets Other than Goodwill	$ 21		$ 21
Business Acquisition, Purchase Price Allocation, Goodwill Amount	$ 16		$ 16
Business Acquisition, Effective Date of Acquisition	Oct. 01, 2012
Number Of Vehicles	4,000		4,000
Business Acquisition, Cost of Acquired Entity, Cash Paid	$ 63		$ 63
Business Acquisition, Contingent Consideration, at Fair Value	9		9
Business Acquisition, Contingent Consideration, Potential Cash Payment	26		26
Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment	33		33
Business Acquisition, Contingent Consideration, Potential Cash Payment	26		26
Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment	$ 33		$ 33

Stock-Based Compensation (Summary Of Share Based Payment Other Than Options Valuation Assumptions) (Detail)	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected volatility of stock price	43.00%	49.00%
Risk Free Interest Rate, Minimum		0.38%
Risk Free Interest Rate, Maximum		0.42%

Stock-Based Compensation (Stock Based Compensation Activity) (Detail)
$ / shares in Units, $ in Millions

6 Months Ended

Jun. 30, 2013

USD ($)

$ / shares

Options [Member]

Granted at fair market value | $ / shares

$ 0

Weighted Average Exercise Price, Vested/exercised | $ / shares

3.45

Weighted Average Exercise Price, Canceled | $ / shares

27.40

Weighted Average Exercise Price, Balance at March 31, 2012 | $ / shares

$ 2.49

Number of Options, Vested/exercised

717,000

^[1]

Number of Options, Canceled

3,000

Number of Options, Balance

1,181,000

^[2],[3]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures

Options outstanding, intrinsic value | $

$ 31

In-the-money' stock options (in number of options)

1,172,000

Stock options exercisable

1,117,000

RSU [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted Average Grant Price, Granted at fair market value | $ / shares

$ 20.99

Weighted Average Grant Price, Vested/exercised | $ / shares

12.72

Weighted Average Grant Price, Canceled | $ / shares

14.12

Weighted Average Grant Price, Balance | $ / shares

$ 16.30

Number of RSUs, Vested/exercised

1,117,000

1,104,000

^[1]

Number of RSUs, Canceled

47,000

Number of RSUs, Balance

3,463,000

^[2],[3]

Restricted Stock Units (RSUs) [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of performance based stock vested

436,000

Number of performance based stock vested, intrinsic value | $

$ 17

Options outstanding, intrinsic value | $

100

Aggregate unrecognized compensation expense related to awards | $

$ 37

Time-based restricted stock units outstanding

1,374,000

Number of performance-based and market-based stock units outstanding

2,089,000

Restricted Stock Units (RSUs) [Member] | Time-based vesting schedule [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based compensation,RSUs eligible to vest

635,000

9,000

Restricted Stock Units (RSUs) [Member] | Performance-Based Vesting Schedule [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Restricted Stock Units (RSUs) [Member] | Market-based vesting schedule [Member]

395,000

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based compensation,RSUs eligible to vest

87,000

3,000

[1]	During the six months ended June 30, 2013, 436,000 market-vesting restricted stock units vested. Stock options exercised during the six months ended June 30, 2013 had an intrinsic value of $17 million.
[2]	As of June 30, 2013, the Company’s outstanding RSUs had an aggregate intrinsic value of $100 million; aggregate unrecognized compensation expense related to RSUs amounted to $37 million; and the balance of RSUs at June 30, 2013, consists of 1,374,000 related to time-based awards and 2,089,000 related to market-vesting and performance-based awards. Approximately 9,000 time-based restricted stock units and 3,000 market-vesting restricted stock units are eligible to vest in 2013, if applicable service criteria are satisfied.
[3]	As of June 30, 2013, the Company’s outstanding stock options had aggregate intrinsic value of $31 million; there were 1,172,000 “in-the-money” stock options; and aggregate unrecognized compensation expense related to unvested stock options was immaterial. 1,117,000 stock options are exercisable as of June 30, 2013.

Stock-Based Compensation (Summary Of Share Based Compensation Shares Authorized Under Stock Option Plans By Exercise Price Range) (Detail)	6 Months Ended
	Jun. 30, 2013 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average contractual life	5 years 8 months 12 days
Number of Options \| shares	1,181,000
Less Than $5.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices	$ 5
Weighted average contractual life	5 years 7 months 6 days
Number of Options \| shares	1,012,000
$5.01 To $10.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices	$ 5.01
Range of Exercise Prices	$ 10
Weighted average contractual life	0 years
Number of Options \| shares	0
$10.01 To $15.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices	$ 10.01
Range of Exercise Prices	$ 15
Weighted average contractual life	6 years 7 months 6 days
Number of Options \| shares	160,000
$15.01 To $20.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices	$ 15.01
Range of Exercise Prices	$ 20
Weighted average contractual life	0 years
Number of Options \| shares	0
Twenty Point Zero One and Above [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices	$ 20.01
Weighted average contractual life	1 year 3 months 18 days
Number of Options \| shares	9,000

Segment Information (Summary Of Segments Information) (Detail) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

$ 15

$ 12

$ 25

$ 19

2,002

1,866

3,693

3,489

164

^[1]

254

^[1]

247

^[2]

366

^[2]

114

142

131

(38)

129

(95)

102

^[3]

^[4]

North America [Member]

1,292

1,184

2,392

2,222

114

184

205

277

International [Member]

608

579

1,123

1,089

Truck Rental [Member]

102

103

178

177

Corporate and Other [Member]

(2)

^[5]

^[6]

$ (11)

^[5]

$ (6)

^[5]

$ (23)

^[6]

$ (10)

^[6]

[1]	Adjusted EBITDA for the three months ended June 30, 2013 and 2012, includes $15 million and $12 million, respectively, of restructuring expense.
[2]	Adjusted EBITDA for the six months ended June 30, 2013 and 2012, includes $25 million and $19 million, respectively, of restructuring expense.
[3]	During the three months ended June 30, 2013, the Company incurred $19 million in transaction-related costs related to the integration of the operations of Avis Europe and costs related to the acquisition and integration of Zipcar. During the three months ended June 30, 2012, the Company incurred $4 million in transaction-related costs related to the integration of the operations of Avis Europe.
[4]	During the six months ended June 30, 2013, the Company incurred $26 million in transaction-related costs related to the integration of the operations of Avis Europe and costs related to the acquisition and integration of Zipcar. During the six months ended June 30, 2012, the Company incurred $10 million in transaction-related costs related to the integration of the operations of Avis Europe.
[5]	Includes unallocated corporate overhead and the elimination of transactions between segments.
[6]	Includes unallocated corporate overhead and the elimination of transactions between segments.

Segment Information (Narrative) (Detail) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2012

$ 2,002

$ 1,866

$ 3,693

$ 3,489

164

^[1]

254

^[1]

247

^[2]

366

^[2]

Early Debt Extinguishment

114

142

131

^[3]

^[4]

Assets under vehicle programs

12,762

$ 10,099

Non current deferred tax assets

1,329

$ 1,454

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

(38)

129

(95)

102

North America [Member]

1,292

1,184

2,392

2,222

114

184

205

277

Assets under vehicle programs

9,800

7,400

9,800

7,400

Segment Assets Exclusive Of Assets Under Vehicle Program

3,600

3,100

3,600

3,100

International [Member]

608

579

1,123

1,089

Truck Rental [Member]

102

103

178

177

(2)

Corporate and Other [Member]

^[5]

^[6]

$ (11)

^[5]

$ (6)

^[5]

$ (23)

^[6]

$ (10)

^[6]

[1]	Adjusted EBITDA for the three months ended June 30, 2013 and 2012, includes $15 million and $12 million, respectively, of restructuring expense.
[2]	Adjusted EBITDA for the six months ended June 30, 2013 and 2012, includes $25 million and $19 million, respectively, of restructuring expense.
[3]	During the three months ended June 30, 2013, the Company incurred $19 million in transaction-related costs related to the integration of the operations of Avis Europe and costs related to the acquisition and integration of Zipcar. During the three months ended June 30, 2012, the Company incurred $4 million in transaction-related costs related to the integration of the operations of Avis Europe.
[4]	During the six months ended June 30, 2013, the Company incurred $26 million in transaction-related costs related to the integration of the operations of Avis Europe and costs related to the acquisition and integration of Zipcar. During the six months ended June 30, 2012, the Company incurred $10 million in transaction-related costs related to the integration of the operations of Avis Europe.
[5]	Includes unallocated corporate overhead and the elimination of transactions between segments.
[6]	Includes unallocated corporate overhead and the elimination of transactions between segments.

Guarantor And Non-Guarantor Consolidating Condensed Financial Statements (Consolidating Condensed Statements Of Comprehensive Income) (Detail) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Revenues

$ 1,438

$ 1,334

$ 2,654

$ 2,502

564

532

1,039

987

2,002

1,866

3,693

3,489

Expenses

1,007

953

1,937

1,847

476

334

863

652

274

233

498

452

123

153

114

142

131

^[1]

^[2]

Interest expense related to corporate debt, net:

2,040

1,737

3,788

3,387

(38)

129

(95)

102

(50)

(46)

(28)

(74)

(65)

(134)

Parent Company [Member]

Revenues

Expenses

(3)

(5)

(6)

(12)

Interest expense related to corporate debt, net:

(11)

(23)

(58)

(44)

(20)

100

(23)

Subsidiary Issuers [Member]

(28)

(74)

Revenues

Expenses

(4)

106

128

(6)

(74)

(17)

(155)

Interest expense related to corporate debt, net:

147

(11)

198

(12)

(147)

(198)

(3)

(6)

100

(20)

100

(23)

Guarantor Subsidiaries [Member]

(56)

(82)

Revenues

972

890

1,809

1,677

288

278

535

512

1,260

1,168

2,344

2,189

Expenses

613

591

1,171

1,128

327

185

587

383

165

145

296

282

125

140

Interest expense related to corporate debt, net:

1,187

1,069

2,208

2,095

136

(34)

(36)

(48)

(34)

100

Non-Guarantor Subsidiaries [Member]

Revenues

466

444

845

825

643

501

1,170

976

1,109

945

2,015

1,801

Expenses

390

365

760

716

323

211

566

423

100

183

160

121

154

Interest expense related to corporate debt, net:

912

782

1,700

1,539

197

163

315

262

(14)

(13)

(10)

183

150

302

252

151

107

245

254

Eliminations [Member]

Revenues

(367)

(247)

(666)

(502)

(367)

(247)

(666)

(502)

Expenses

(174)

(62)

(290)

(154)

(43)

(64)

(86)

(126)

Interest expense related to corporate debt, net:

(217)

(126)

(376)

(280)

(150)

(121)

(290)

(222)

(85)

(221)

(89)

(216)

(235)

(342)

(379)

(438)

$ (134)

$ (208)

$ (204)

$ (437)

[1]	During the three months ended June 30, 2013, the Company incurred $19 million in transaction-related costs related to the integration of the operations of Avis Europe and costs related to the acquisition and integration of Zipcar. During the three months ended June 30, 2012, the Company incurred $4 million in transaction-related costs related to the integration of the operations of Avis Europe.
[2]	During the six months ended June 30, 2013, the Company incurred $26 million in transaction-related costs related to the integration of the operations of Avis Europe and costs related to the acquisition and integration of Zipcar. During the six months ended June 30, 2012, the Company incurred $10 million in transaction-related costs related to the integration of the operations of Avis Europe.

Guarantor And Non-Guarantor Consolidating Condensed Financial Statements (Consolidating Condensed Balance Sheets) (Detail) - USD ($) $ in Millions	Jun. 30, 2013	Dec. 31, 2012	Jun. 30, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 503	$ 606	$ 454	$ 534
Receivables, net	691	553
Deferred income taxes	153	146
Other current assets	599	405
Total current assets	1,946	1,710
Property and equipment, net	560	529
Deferred income taxes	1,329	1,454
Goodwill	652	375
Other intangibles, net	902	731
Other non-current assets	345	320
Intercompany receivables (payables)	0	0
Investment in subsidiaries	0	0
Total assets exclusive of assets under vehicle programs	5,734	5,119
Assets under vehicle programs:
Program cash	139	24
Vehicles, net	12,099	9,274
Receivables from vehicle manufacturers and other	162	439
Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	362	362
Total Assets under vehicle programs	12,762	10,099
Total assets	18,496	15,218
Current liabilities:
Accounts payable and other current liabilities	1,601	1,421
Long-term Debt, Current Maturities	221	57
Total current liabilities	1,822	1,478
Long-term debt	3,195	2,848
Other non-current liabilities	875	871
Total liabilities exclusive of liabilities under vehicle programs	5,892	5,197
Liabilities under vehicle programs:
Debt	2,371	1,603
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	6,986	5,203
Deferred income taxes	2,074	2,163
Other	527	295
Total Liabilities under vehicle programs	11,958	9,264
Total stockholders' equity	646	757
Total liabilities and stockholders' equity	18,496	15,218
Parent [Member]
Current assets:
Cash and cash equivalents	7	5	3	2
Receivables, net	0	0
Deferred income taxes	3	3
Other current assets	4	5
Total current assets	14	13
Property and equipment, net	0	0
Deferred income taxes	19	23
Goodwill	0	0
Other intangibles, net	0	0
Other non-current assets	103	109
Intercompany receivables (payables)	140	142
Investment in subsidiaries	557	723
Total assets exclusive of assets under vehicle programs	833	1,010
Assets under vehicle programs:
Program cash	0	0
Vehicles, net	0	0
Receivables from vehicle manufacturers and other	0	0
Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	0	0
Total Assets under vehicle programs	0	0
Total assets	833	1,010
Current liabilities:
Accounts payable and other current liabilities	15	22
Long-term Debt, Current Maturities	0	0
Total current liabilities	15	22
Long-term debt	75	128
Other non-current liabilities	97	103
Total liabilities exclusive of liabilities under vehicle programs	187	253
Liabilities under vehicle programs:
Debt	0	0
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	0	0
Deferred income taxes	0	0
Other	0	0
Total Liabilities under vehicle programs	0	0
Total stockholders' equity	646	757
Total liabilities and stockholders' equity	833	1,010
Subsidiary Issuers [Member]
Current assets:
Cash and cash equivalents	64	102	39	234
Receivables, net	0	0
Deferred income taxes	0	1
Other current assets	97	73
Total current assets	161	176
Property and equipment, net	97	90
Deferred income taxes	1,161	1,216
Goodwill	0	0
Other intangibles, net	42	43
Other non-current assets	83	80
Intercompany receivables (payables)	54	141
Investment in subsidiaries	2,582	2,030
Total assets exclusive of assets under vehicle programs	4,180	3,776
Assets under vehicle programs:
Program cash	0	0
Vehicles, net	6	7
Receivables from vehicle manufacturers and other	0	0
Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	0	0
Total Assets under vehicle programs	6	7
Total assets	4,186	3,783
Current liabilities:
Accounts payable and other current liabilities	251	250
Long-term Debt, Current Maturities	166	13
Total current liabilities	417	263
Long-term debt	3,113	2,712
Other non-current liabilities	93	79
Total liabilities exclusive of liabilities under vehicle programs	3,623	3,054
Liabilities under vehicle programs:
Debt	6	4
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	0	0
Deferred income taxes	0	0
Other	0	2
Total Liabilities under vehicle programs	6	6
Total stockholders' equity	557	723
Total liabilities and stockholders' equity	4,186	3,783
Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	0	0	2	1
Receivables, net	207	156
Deferred income taxes	142	138
Other current assets	94	81
Total current assets	443	375
Property and equipment, net	306	276
Deferred income taxes	156	223
Goodwill	348	74
Other intangibles, net	527	341
Other non-current assets	19	14
Intercompany receivables (payables)	344	174
Investment in subsidiaries	3,220	3,293
Total assets exclusive of assets under vehicle programs	5,363	4,770
Assets under vehicle programs:
Program cash	0	0
Vehicles, net	10	13
Receivables from vehicle manufacturers and other	0	0
Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	0	0
Total Assets under vehicle programs	10	13
Total assets	5,373	4,783
Current liabilities:
Accounts payable and other current liabilities	611	490
Long-term Debt, Current Maturities	3	3
Total current liabilities	614	493
Long-term debt	7	8
Other non-current liabilities	275	277
Total liabilities exclusive of liabilities under vehicle programs	896	778
Liabilities under vehicle programs:
Debt	0	0
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	0	0
Deferred income taxes	1,895	1,975
Other	0	0
Total Liabilities under vehicle programs	1,895	1,975
Total stockholders' equity	2,582	2,030
Total liabilities and stockholders' equity	5,373	4,783
Non-Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	432	499	410	297
Receivables, net	484	397
Deferred income taxes	10	4
Other current assets	404	246
Total current assets	1,330	1,146
Property and equipment, net	157	163
Deferred income taxes	0	0
Goodwill	304	301
Other intangibles, net	333	347
Other non-current assets	140	117
Intercompany receivables (payables)	(538)	(457)
Investment in subsidiaries	0	0
Total assets exclusive of assets under vehicle programs	1,726	1,617
Assets under vehicle programs:
Program cash	139	24
Vehicles, net	12,083	9,254
Receivables from vehicle manufacturers and other	162	439
Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	362	362
Total Assets under vehicle programs	12,746	10,079
Total assets	14,472	11,696
Current liabilities:
Accounts payable and other current liabilities	726	659
Long-term Debt, Current Maturities	52	41
Total current liabilities	778	700
Long-term debt	0	0
Other non-current liabilities	417	420
Total liabilities exclusive of liabilities under vehicle programs	1,195	1,120
Liabilities under vehicle programs:
Debt	2,365	1,599
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	6,986	5,203
Deferred income taxes	179	188
Other	527	293
Total Liabilities under vehicle programs	10,057	7,283
Total stockholders' equity	3,220	3,293
Total liabilities and stockholders' equity	14,472	11,696
Eliminations [Member]
Current assets:
Cash and cash equivalents	0	0	$ 0	$ 0
Receivables, net	0	0
Deferred income taxes	(2)	0
Other current assets	0	0
Total current assets	(2)	0
Property and equipment, net	0	0
Deferred income taxes	(7)	(8)
Goodwill	0	0
Other intangibles, net	0	0
Other non-current assets	0	0
Intercompany receivables (payables)	0	0
Investment in subsidiaries	(6,359)	(6,046)
Total assets exclusive of assets under vehicle programs	(6,368)	(6,054)
Assets under vehicle programs:
Program cash	0	0
Vehicles, net	0	0
Receivables from vehicle manufacturers and other	0	0
Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	0	0
Total Assets under vehicle programs	0	0
Total assets	(6,368)	(6,054)
Current liabilities:
Accounts payable and other current liabilities	(2)	0
Long-term Debt, Current Maturities	0	0
Total current liabilities	(2)	0
Long-term debt	0	0
Other non-current liabilities	(7)	(8)
Total liabilities exclusive of liabilities under vehicle programs	(9)	(8)
Liabilities under vehicle programs:
Debt	0	0
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	0	0
Deferred income taxes	0	0
Other	0	0
Total Liabilities under vehicle programs	0	0
Total stockholders' equity	(6,359)	(6,046)
Total liabilities and stockholders' equity	$ (6,368)	$ (6,054)

Guarantor And Non-Guarantor Consolidating Condensed Financial Statements (Consolidating Condensed Statements Of Cash Flows) (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Supplemental Guarantor Financial Information [Line Items]
Net cash provided by (used in) operating activities		$ 874	$ 722
Property and equipment additions		(56)	(49)
Proceeds received on asset sales		7	13
Payments to Acquire Restricted Investments		(476)	(5)
Other, net		50	(2)
Net cash used in investing activities exclusive of vehicle programs		(475)	(43)
Decrease (increase) in program cash		(111)	(61)
Investment in vehicles		(7,306)	(6,938)
Proceeds received on disposition of vehicles		4,434	4,077
Net cash used in investing activities of vehicle programs		(2,983)	(2,922)
Net cash used in investing activities		(3,458)	(2,965)
Proceeds from long-term borrowings		2,725	654
Principal payments on borrowings		(2,338)	(853)
Net change in short-term borrowings		10	(1)
Purchase of warrants		(29)	(26)
Proceeds from sale of call options		40	38
Net intercompany transactions		0	0
Debt financing fees		(28)	(9)
Other, net		2	0
Net cash provided by financing activities exclusive of vehicle programs		382	(197)
Proceeds from borrowings		8,191	7,172
Principal payments on borrowings		(6,055)	(4,802)
Debt financing fees		(20)	(11)
Net cash provided by financing activities of vehicle programs		2,116	2,359
Net cash provided by financing activities		2,498	2,162
Effect of changes in exchange rates on cash and cash equivalents		(17)	1
Net increase (decrease) in cash and cash equivalents		(103)	(80)
Cash and cash equivalents, beginning of period		606	534
Cash and cash equivalents, end of period	$ 454	503	454
Parent [Member]
Supplemental Guarantor Financial Information [Line Items]
Net cash provided by (used in) operating activities		(2)	(45)
Property and equipment additions		0	0
Proceeds received on asset sales		0	0
Other, net		0	4
Net cash used in investing activities exclusive of vehicle programs		0	4
Decrease (increase) in program cash		0	0
Investment in vehicles		0	0
Proceeds received on disposition of vehicles		0	0
Net cash used in investing activities of vehicle programs		0	0
Net cash used in investing activities		0	4
Proceeds from long-term borrowings		0	0
Principal payments on borrowings		(93)	(201)
Net change in short-term borrowings		0	0
Purchase of warrants		(29)	(26)
Proceeds from sale of call options		40	38
Net intercompany transactions		84	231
Debt financing fees		0	0
Other, net		2
Net cash provided by financing activities exclusive of vehicle programs		4	42
Proceeds from borrowings		0	0
Principal payments on borrowings		0	0
Debt financing fees		0	0
Net cash provided by financing activities of vehicle programs		0	0
Net cash provided by financing activities		4	42
Effect of changes in exchange rates on cash and cash equivalents		0	0
Net increase (decrease) in cash and cash equivalents		2	1
Cash and cash equivalents, beginning of period		5	2
Cash and cash equivalents, end of period	3	7	3
Subsidiary Issuers [Member]
Supplemental Guarantor Financial Information [Line Items]
Net cash provided by (used in) operating activities		45	52
Property and equipment additions		(11)	(13)
Proceeds received on asset sales		3	4
Payments to Acquire Restricted Investments		(513)	0
Other, net		(1)	(2)
Net cash used in investing activities exclusive of vehicle programs		(522)	(11)
Decrease (increase) in program cash		0	0
Investment in vehicles		(3)	(1)
Proceeds received on disposition of vehicles		2	3
Net cash used in investing activities of vehicle programs		(1)	2
Net cash used in investing activities		(523)	(9)
Proceeds from long-term borrowings		2,725	654
Principal payments on borrowings		(2,243)	(651)
Net change in short-term borrowings		0	0
Purchase of warrants		0	0
Proceeds from sale of call options		0	0
Net intercompany transactions		(14)	(232)
Debt financing fees		(28)	(9)
Other, net		0
Net cash provided by financing activities exclusive of vehicle programs		440	(238)
Proceeds from borrowings		0	0
Principal payments on borrowings		0	0
Debt financing fees		0	0
Net cash provided by financing activities of vehicle programs		0	0
Net cash provided by financing activities		440	(238)
Effect of changes in exchange rates on cash and cash equivalents		0	0
Net increase (decrease) in cash and cash equivalents		(38)	(195)
Cash and cash equivalents, beginning of period		102	234
Cash and cash equivalents, end of period	39	64	39
Guarantor Subsidiaries [Member]
Supplemental Guarantor Financial Information [Line Items]
Net cash provided by (used in) operating activities		(32)	27
Property and equipment additions		(24)	(16)
Proceeds received on asset sales		0	3
Payments to Acquire Restricted Investments		16	0
Other, net		43	(1)
Net cash used in investing activities exclusive of vehicle programs		35	(14)
Decrease (increase) in program cash		0	0
Investment in vehicles		(1)	(11)
Proceeds received on disposition of vehicles		0	1
Net cash used in investing activities of vehicle programs		(1)	(10)
Net cash used in investing activities		34	(24)
Proceeds from long-term borrowings		0	0
Principal payments on borrowings		(2)	(1)
Net change in short-term borrowings		0	0
Purchase of warrants		0	0
Proceeds from sale of call options	0	0
Net intercompany transactions		0	(1)
Debt financing fees		0	0
Other, net		0
Net cash provided by financing activities exclusive of vehicle programs		(2)	(2)
Proceeds from borrowings		0	0
Principal payments on borrowings		0	0
Debt financing fees		0	0
Net cash provided by financing activities of vehicle programs		0	0
Net cash provided by financing activities		(2)	(2)
Effect of changes in exchange rates on cash and cash equivalents		0	0
Net increase (decrease) in cash and cash equivalents		0	1
Cash and cash equivalents, beginning of period		0	1
Cash and cash equivalents, end of period	2	0	2
Non-Guarantor Subsidiaries [Member]
Supplemental Guarantor Financial Information [Line Items]
Net cash used in investing activities		2,969
Net increase (decrease) in cash and cash equivalents		(67)
Non-Guarantor Subsidiaries [Member]
Supplemental Guarantor Financial Information [Line Items]
Net cash provided by (used in) operating activities		867	689
Property and equipment additions		(21)	(20)
Proceeds received on asset sales		4	6
Payments to Acquire Restricted Investments		21	(5)
Other, net		8	(3)
Net cash used in investing activities exclusive of vehicle programs		12	(22)
Decrease (increase) in program cash		111	(61)
Investment in vehicles		7,302	(6,926)
Proceeds received on disposition of vehicles		(4,432)	4,073
Net cash used in investing activities of vehicle programs		2,981	(2,914)
Net cash used in investing activities			(2,936)
Proceeds from long-term borrowings		0	0
Principal payments on borrowings		0	0
Net change in short-term borrowings		10	(1)
Purchase of warrants		0	0
Proceeds from sale of call options	0	0
Net intercompany transactions		(74)	1
Debt financing fees		0	0
Other, net		0
Net cash provided by financing activities exclusive of vehicle programs		(64)	0
Proceeds from borrowings		8,191	7,172
Principal payments on borrowings		(6,055)	(4,802)
Debt financing fees		(20)	(11)
Net cash provided by financing activities of vehicle programs		2,116	2,359
Net cash provided by financing activities		2,052	2,359
Effect of changes in exchange rates on cash and cash equivalents		(17)	1
Net increase (decrease) in cash and cash equivalents			113
Cash and cash equivalents, beginning of period		499	297
Cash and cash equivalents, end of period	410	432	410
Eliminations [Member]
Supplemental Guarantor Financial Information [Line Items]
Net cash provided by (used in) operating activities		(4)	(1)
Property and equipment additions		0	0
Proceeds received on asset sales		0	0
Payments to Acquire Restricted Investments		0	0
Other, net		0	0
Net cash used in investing activities exclusive of vehicle programs		0	0
Decrease (increase) in program cash		0	0
Investment in vehicles		0	0
Proceeds received on disposition of vehicles		0	0
Net cash used in investing activities of vehicle programs		0	0
Net cash used in investing activities		0	0
Proceeds from long-term borrowings		0	0
Principal payments on borrowings		0	0
Net change in short-term borrowings		0	0
Purchase of warrants		0	0
Proceeds from sale of call options		0	0
Net intercompany transactions		4	1
Debt financing fees		0	0
Other, net		0
Net cash provided by financing activities exclusive of vehicle programs		4	1
Proceeds from borrowings		0	0
Principal payments on borrowings		0	0
Debt financing fees		0	0
Net cash provided by financing activities of vehicle programs		0	0
Net cash provided by financing activities		4	1
Effect of changes in exchange rates on cash and cash equivalents		0	0
Net increase (decrease) in cash and cash equivalents		0	0
Cash and cash equivalents, beginning of period		0	0
Cash and cash equivalents, end of period	$ 0	0	0
Parent [Member]
Supplemental Guarantor Financial Information [Line Items]
Payments to Acquire Restricted Investments		$ 0	$ 0

Subsequent Events (Narrative) (Detail)
$ in Millions

3 Months Ended

Aug. 06, 2013

USD ($)

Jun. 30, 2013

USD ($)

Jul. 31, 2013

USD ($)

Apr. 30, 2013

USD ($)

Tender Offer Paid on Notes

$ 398

Subsequent Event [Member]

Stock Repurchase Program, Authorized Amount

$ 200

Subsequent Event [Member] | 9 5/8% Notes [Member]

Convertible senior notes interest percentage

0.00750

9 5/8% Notes [Member]

March 2018

9 3/4% Notes [Member]

Payless [Member] | Subsequent Event [Member]

March 2020

Acquisition purchase price

$ 50

Revolving Credit Facility Maturing Two Thousand Sixteen [Member]

Basis spread over variable rate

3.00%

Line of Credit Facility, Current Borrowing Capacity

^[1]

$ 1,500

Revolving Credit Facility Maturing Two Thousand Sixteen [Member] | Subsequent Event [Member]

Line of Credit Facility, Current Borrowing Capacity

^[1]

$ 1,650

$ 1,500

[1]

Label	Element	Value
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	1,901,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	$ 2.89
Rsu [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue	$ 13.64
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber	3,497,000

The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.