XML 89 R47.htm IDEA: XBRL DOCUMENT v2.4.0.8
Financial Instruments (Narrative) (Detail) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Schedule of Cost-method Investments [Line Items]        
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax $ 8      
Cash posted as collateral for derivatives in a liability position 3   3  
Derivative Instruments, Gain (Loss) Recognized in Income, Net (15) [1] (4) [1] 28 [1] 2 [1]
Interest Rate Caps [Member]
       
Schedule of Cost-method Investments [Line Items]        
Absolute notional values of derivative instruments 6,959 [2]   6,959 [2]  
Interest Rate Caps [Member] | Interest Rate Caps Purchased [Member]
       
Schedule of Cost-method Investments [Line Items]        
Absolute notional values of derivative instruments 2,200   2,200  
Interest Rate Caps [Member] | Interest Rate Caps Purchased [Member] | Subsidiary Issuers [Member]
       
Schedule of Cost-method Investments [Line Items]        
Absolute notional values of derivative instruments 2,500   2,500  
Interest Rate Caps [Member] | Interest Rate Caps Sold [Member]
       
Schedule of Cost-method Investments [Line Items]        
Absolute notional values of derivative instruments 4,700   4,700  
Interest Rate Swaps [Member]
       
Schedule of Cost-method Investments [Line Items]        
Absolute notional values of derivative instruments 904   904  
Foreign Exchange Contracts [Member]
       
Schedule of Cost-method Investments [Line Items]        
Absolute notional values of derivative instruments 77   77  
Commodity Contracts [Member]
       
Schedule of Cost-method Investments [Line Items]        
Units Of Gasoline 11,000,000   11,000,000  
Foreign Exchange Contract [Member]
       
Schedule of Cost-method Investments [Line Items]        
Absolute notional values of derivative instruments 704   704  
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 (13) [3] (2) [3] 22 [3] 0 [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 0 [4] 3 [4] 0 [4] 4 [4]
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 16   13  
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 $ 3   $ 9  
[1] Gains (losses) related to derivative instruments are expected to be largely offset by (losses) gains on the underlying exposures being hedged.
[2] Represents $4.7 billion of interest rate caps sold and approximately $2.2 billion of interest rate caps purchased. These amounts exclude $2.5 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 September 30, 2013, included a $16 million loss in interest expense and a $3 million gain in operating expenses. For the nine months ended September 30, 2013, included a $13 million gain in interest expense and a $9 million gain in operating expenses. For the three and nine months ended September 30, 2012, amounts were included in operating expenses.
[4] Included in operating expense.