Debt Under Vehicle Programs and Borrowing Arrangements (Tables)

12 Months Ended

Dec. 31, 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 December 31,
	2017			2016
Americas – Debt due to Avis Budget Rental Car Funding	$	6,516		$	6,733
Americas – Debt borrowings	660			577
International – Debt borrowings ^(a)	1,942			1,449
International – Capital leases	146			162
Other	1			7
Deferred financing fees ^(b)	(44		)	(50		)
Total	$	9,221		$	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 December 31, 2017 and 2016 were $36 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 December 31, 2017:



	Debt under Vehicle Programs
2018^(a)	$	1,886
2019	3,170
2020	1,868
2021	1,019
2022	883
Thereafter	439
	$	9,265

__________


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

Schedule Of Available Funding Under Vehicle Program

The following table presents available funding under the Company’s debt arrangements related to its vehicle programs, including related party debt due to Avis Budget Rental Car Funding, at December 31, 2017:



	Total Capacity ^(a)		Outstanding Borrowings		Available Capacity
Americas – Debt due to Avis Budget Rental Car Funding^(b)	$	9,296	$	6,516	$	2,780
Americas – Debt borrowings^(c)	924		660		264
International – Debt borrowings^(d)	2,942		1,942		1,000
International – Capital leases ^(e)	169		146		23
Other	1		1		—
Total	$	13,332	$	9,265	$	4,067

__________


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


^(b)	The outstanding debt is collateralized by $8.0 billion of underlying vehicles and related assets.


^(c)	The outstanding debt is collateralized by $0.9 billion of underlying vehicles and related assets.


^(d)	The outstanding debt is collateralized by $2.3 billion of underlying vehicles and related assets.


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