Debt Under Vehicle Programs and Borrowing Arrangements (Tables)

6 Months Ended

Jun. 30, 2013

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.