Equity

9 Months Ended

Sep. 30, 2011

Equity [Abstract]

Equity

13.  Equity

Description of Capital Stock

The Company has authorized share capital of $12,000 and has issued 12,000 shares, with a par value of $1 per share. The share capital of the Company is divided into shares of a single class the holders of which, subject to the provisions of the bye-laws, are (i) entitled to one vote per share; (ii) entitled to such dividends as the Board may from time to time declare; (iii) in the event of a winding-up or dissolution of the Company, whether voluntary or involuntary or for the purpose of a reorganization or otherwise or upon any distribution of capital, entitled to the surplus assets of the Company; and (iv) generally entitled to enjoy all of the rights attaching to shares.

The Board may, subject to the bye-laws and in accordance with Bermudan legislation, declare a dividend to be paid to the shareholders, in proportion to the number of shares held by them. Such dividend may be paid in cash and/or in kind. No unpaid dividend bears interest.

The Board may elect any date as the record date for determining the shareholders entitled to receive any dividend. The Board may declare and make such other distributions to the members as may be lawfully made out of the assets of the Company. No unpaid distribution bears interest.

Shareholders’ Agreement

In connection with a restructuring (the “Restructuring”) with respect to the Company’s direct parent holding company, Holdings, senior unsecured PIK term loans, on October 3, 2011, the Company and its direct and indirect parent companies entered into a shareholders’ agreement (the “Shareholders’ Agreement”) with the PIK term loan lenders (the “New Shareholders”). Pursuant to the Shareholders’ Agreement, as partial consideration for the Restructuring, the New Shareholders received, among other things, their pro rata share of 40% of the fully diluted issued and outstanding equity of Travelport Worldwide Limited (“Worldwide”), the direct parent of Holdings.

Subject to certain conditions, additional equity securities may be issued to the New Shareholders, which would bring the total equity held by the New Shareholders to 44% of Worldwide.

The Shareholders’ Agreement, among other things: (i) allows the New Shareholders to appoint two directors to the Company’s board of directors as well as the boards of directors of Holdings and Worldwide, subject to certain conditions; (ii) restricts the Company’s ability to enter into certain affiliate transactions, authorize or issue new equity securities and amend the Company’s organizational documents without the consent of the New Shareholders; and (iii) allows holders of 2% or more of the outstanding equity of Worldwide to obtain additional information about the Company and certain of its parent companies.

Distributions to Parent

On September 30, 2011, the Company made distributions to Holdings of $297 million, comprising $89 million of cash and $208 million of second lien term loans.

Other Comprehensive Income (Loss)

Other comprehensive income (loss) represents certain components of revenues, expenses, gains and losses that are included in comprehensive income (loss), but are excluded from net (loss) income. Other comprehensive income (loss) amounts are recorded directly as an adjustment to total equity, net of tax, and were as follows:

	Three Months					Nine Months
	Ended September 30,					Ended September 30,
(in $ million)	2011			2010		2011			2010
Net (loss) income		(26	)		24		256			25
Other comprehensive income (loss)
Currency translation adjustments, net of tax of $0		(8	)		54		(80	)		(16	)
Cash flow hedge adjustments, net of tax of $0		2			14		7			5
Unrealized actuarial losses on defined benefit plans, net of tax of $0		(1	)		—		(3	)		—
Unrealized gains on equity investments and other, net of tax of $0		5			1		6			7
Comprehensive (loss) income		(28	)		93		186			21