Debt Under Vehicle Programs and Borrowing Arrangements (Tables)

6 Months Ended

Jun. 30, 2014

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



	As of		As of
	June 30,		December 31,
	2014		2013
North America - Debt due to Avis Budget Rental Car Funding ^(a)	$	8,101	$	5,656
North America - Canadian borrowings ^(a)(b)	744		400
International - Debt borrowings ^(a)	1,290		731
International - Capital leases ^(a)	444		289
Truck Rental - Debt borrowings ^(c)	264		226
Other	5		35
Total	$	10,848	$	7,337

__________


^(a)	The increase reflects additional borrowings principally to fund a seasonal increase in the Company’s car rental fleet.


^(b)	The increase includes additional borrowings to fund an increase in the Company’s fleet driven by the acquisition of its Budget licensee for Edmonton.


^(c)	The increase reflects additional borrowings to acquire 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, 2014.



	Debt Under Vehicle Programs
Within 1 year ^(a)	$	1,251
Between 1 and 2 years	4,871
Between 2 and 3 years	1,485
Between 3 and 4 years	1,156
Between 4 and 5 years	1,714
Thereafter	371
Total	$	10,848

__________


^(a)	Vehicle-backed debt maturing within one year primarily represents term asset-backed securities.

Schedule Of Available Funding Under The Vehicle Programs

As of June 30, 2014, 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)	$	8,516	$	8,101	$	415
North America - Canadian borrowings ^(c)	961		744		217
International - Debt borrowings ^(d)	1,650		1,290		360
International - Capital leases ^(e)	554		444		110
Truck Rental - Debt borrowings ^(f)	283		264		19
Other	5		5		—
Total	$	11,969	$	10,848	$	1,121

__________


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


^(b)	The outstanding debt is collateralized by approximately $9.7 billion of underlying vehicles and related assets.


^(c)	The outstanding debt is collateralized by $919 million of underlying vehicles and related assets.


^(d)	The outstanding debt is collateralized by approximately $1.6 billion of underlying vehicles and related assets.


^(e)	The outstanding debt is collateralized by $450 million of underlying vehicles and related assets.


^(f)	The outstanding debt is collateralized by $406 million of underlying vehicles and related assets.