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Debt Under Vehicle Programs and Borrowing Arrangements (Tables)
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Debt Under Vehicle Programs
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,
20202019
Americas – Debt due to Avis Budget Rental Car Funding (a)
$5,116 $7,975 
Americas – Debt borrowings (a)
509 827 
International – Debt borrowings (a)
1,115 2,100 
International – Finance leases162 215 
Deferred financing fees (b)
(45)(49)
Total$6,857 $11,068 
__________ 
(a)Decreases reflect reduced borrowings resulting from reductions in the Company's global rental fleet.
(b)Deferred financing fees related to Debt due to Avis Budget Rental Car Funding as of December 31, 2020 and 2019 were $36 million and $40 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, 2020:
Debt under Vehicle Programs (a)
2021 (b)
$1,626 
2022 (c)
2,444 
2023 (d)
1,224 
2024885 
2025621 
Thereafter102 
$6,902 
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, 2020:
Total Capacity (a)
Outstanding
Borrowings (b)
Available Capacity
Americas – Debt due to Avis Budget Rental Car Funding
$7,921 $5,116 $2,805 
Americas – Debt borrowings
759 509 250 
International – Debt borrowings
2,884 1,115 1,769 
International – Finance leases 221 162 59 
Total$11,785 $6,902 $4,883 
__________
(a)Capacity is subject to maintaining sufficient assets to collateralize debt.
(b)The outstanding debt is collateralized by vehicles and related assets of $6.3 billion for Americas - Debt due to Avis Budget Rental Car Funding; $0.7 billion for Americas - Debt borrowings; $1.4 billion for International - Debt borrowings; and $0.2 billion for International - Finance leases.