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Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2012

Financial Instruments [Abstract]

Summary of the fair value of the Company's derivative contracts


				Fair Value Asset										Fair Value Liability
(in $ millions)		Balance Sheet Location		June 30, 2012				December 31, 2011				Balance Sheet Location		June 30, 2012				December 31, 2011

Interest rate swaps		Other current assets			—				—			Accrued expenses and other current liabilities			(4	)			(4	)

Interest rate swaps		Other non-current assets			—				—			Other non-current liabilities			(1	)			(2	)

Foreign currency forward contracts		Other current assets			8				2			Accrued expenses and other current liabilities			(25	)			(33	)

Total fair value of derivative assets (liabilities)					8				2						(30	)			(39	)

Summary of reconciliation of the carrying amount of derivative financial instruments, net liability position


(in $ millions)

Balance as of January 1, 2012			(37	)
Total losses for the period included in net loss			(12	)
Net settlement of foreign exchange derivative contracts related to euro denominated debt			16
Termination of foreign exchange derivative contracts (settlement pending)			9
Settlement of interest rate derivative contracts			2

Balance as of June 30, 2012			(22	)

Schedule of impact that changes in fair values of derivatives


				Amount of Gain (Loss) Recorded into Income (Loss)
		Location of Gain (Loss) Recorded in Income (Loss)		Three Months Ended June 30,								Six Months Ended June 30,
(in $ millions)		Location of Gain (Loss) Recorded in Income (Loss)		2012				2011				2012				2011
Derivatives designated as hedging instruments:

Interest rate swaps		Interest expense, net			—				(3	)			—				(5	)

Derivatives not designated as hedging instruments:
Interest rate swaps		Interest expense, net			(2	)			(3	)			(1	)			(11	)
Foreign exchange impact of cross currency swaps		Selling, general and administrative			—				4				—				15
Foreign exchange forward contracts		Selling, general and administrative			(25	)			21				(11	)			66

					(27	)			19				(12	)			65

Fair values of the Company's other financial instruments


		June 30, 2012								December 31, 2011
(in $ millions)		Carrying Amount				Fair Value				Carrying Amount				Fair Value

Asset (liability)
Investment in Orbitz Worldwide			75				178				77				184
Derivative assets (see table above)			8				8				2				2
Derivative liabilities (see table above)			(30	)			(30	)			(39	)			(39	)
Total debt			(3,366	)			(2,622	)			(3,407	)			(2,353	)

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.

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details