XML 64 R65.htm IDEA: XBRL DOCUMENT v2.4.0.8
Financial Instruments (Narrative) (Detail) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Schedule of Cost-method Investments [Line Items]        
Net unrealized gain (loss) on cash flow hedges     $ 2  
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net 7   7  
Derivative Instruments, Gain (Loss) Recognized in Income, Net (13) [1] 37 [1] (30) [1] 43 [1]
Interest Rate Caps [Member]
       
Schedule of Cost-method Investments [Line Items]        
Absolute notional values of derivative instruments 12,275 [2]   12,275 [2]  
Interest Rate Caps [Member] | Interest Rate Caps Purchased [Member]
       
Schedule of Cost-method Investments [Line Items]        
Absolute notional values of derivative instruments 2,400   2,400  
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 7,500   7,500  
Interest Rate Caps [Member] | Interest Rate Caps Sold [Member]
       
Schedule of Cost-method Investments [Line Items]        
Absolute notional values of derivative instruments 9,900   9,900  
Interest Rate Swaps [Member]
       
Schedule of Cost-method Investments [Line Items]        
Absolute notional values of derivative instruments 1,501   1,501  
Commodity Contracts [Member]
       
Schedule of Cost-method Investments [Line Items]        
Units Of Gasoline 10,000,000   10,000,000  
Currency Swap [Member]
       
Schedule of Cost-method Investments [Line Items]        
Absolute notional values of derivative instruments 642   642  
Not Designated As Hedging Instruments [Member] | Commodity Contracts [Member]
       
Schedule of Cost-method Investments [Line Items]        
Derivative Instruments, Gain (Loss) Recognized in Income, Net 1 [3] (2) [3] (29) [4] 35 [4]
Foreign Exchange Contract [Member]
       
Schedule of Cost-method Investments [Line Items]        
Derivative Instruments, Gain (Loss) Recognized in Income, Net 11 30 26 29
Operating Expense [Member]
       
Schedule of Cost-method Investments [Line Items]        
Derivative Instruments, Gain (Loss) Recognized in Income, Net   $ 4 $ 3 $ 6
[1] Gains (losses) related to derivative instruments are expected to be largely offset by (losses) gains on the underlying exposures being hedged.
[2] Represents $9.9 billion of interest rate caps sold, partially offset by approximately $2.4 billion of interest rate caps purchased. These amounts exclude $7.5 billion of interest rate caps purchased by the Company’s Avis Budget Rental Car Funding subsidiary as it is not consolidated by the Company.
[3] Included in operating expenses.
[4] For the three months ended June 30, 2014, included a $11 million loss in interest expense and for the six months ended June 30, 2014, included a $26 million loss in interest expense and a $3 million loss in operating expense. For the three months ended June 30, 2013 included a $30 million gain in interest expense and a $4 million gain in operating expense and for the six months ended June 30, 2013, included a $29 million gain in interest expense and a $6 million gain in operating expenses.