Debt Under Vehicle Programs and Borrowing Arrangements (Tables)

6 Months Ended

Jun. 30, 2017

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,
	2017			2016
Americas - Debt due to Avis Budget Rental Car Funding ^(a)	$	7,912		$	6,733
Americas - Debt borrowings ^(a)	924			577
International - Debt borrowings ^(a)	2,410			1,449
International - Capital leases	161			162
Other	2			7
Deferred financing fees ^(b)	(47		)	(50		)
Total	$	11,362		$	8,878

__________


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


^(b)	Deferred financing fees related to Debt due to Avis Budget Rental Car Funding as of June 30, 2017 and December 31, 2016 were $35 million and $38 million, respectively.

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, 2017.



	Debt under Vehicle Programs
Within 1 year ^(a)	$	1,311
Between 1 and 2 years	5,655
Between 2 and 3 years	1,996
Between 3 and 4 years	1,310
Between 4 and 5 years	716
Thereafter	421
Total	$	11,409

__________


^(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, 2017, 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
Americas - Debt due to Avis Budget Rental Car Funding ^(b)	$	9,057	$	7,912	$	1,145
Americas - Debt borrowings ^(c)	947		924		23
International - Debt borrowings ^(d)	2,806		2,410		396
International - Capital leases ^(e)	188		161		27
Other	2		2		—
Total	$	13,000	$	11,409	$	1,591

__________


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


^(b)	The outstanding debt is collateralized by approximately $9.4 billion of underlying vehicles and related assets.


^(c)	The outstanding debt is collateralized by approximately $1.2 billion of underlying vehicles and related assets.


^(d)	The outstanding debt is collateralized by approximately $2.7 billion of underlying vehicles and related assets.


^(e)	The outstanding debt is collateralized by approximately $0.2 billion of underlying vehicles and related assets.