12.

Other Non-Current Assets

Other non-current assets consisted of:


	As of December 31,
	2012		2011
Deferred financing costs	$	127	$	138
Receivables from Realogy ^(a)		62		67
Investments ^(b)		41		38
Receivables from Wyndham ^(a)		37		41
Other		53		20

	$	320	$	304

^(a)

Represents amounts due for certain contingent, tax and other corporate liabilities assumed by Realogy and Wyndham in connection with the Separation. These amounts are due from Realogy and Wyndham on demand upon the Company’s settlement of the related liability. At December 31, 2012 and 2011, there are corresponding liabilities recorded within other non-current liabilities. Realogy has posted a letter of credit for the benefit of the Company with respect to these obligations, as more fully described under Note 16—Commitments and Contingencies.

^(b)

Includes the Company’s (i) 50% ownership of Anji Car Rental and Leasing Company Limited, a joint venture that has a license agreement for the Avis brand in China, and (ii) 33% ownership of Mercury Car Rentals Limited, a joint venture that has a license agreement for the Avis brand in India.