CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Millions	Sep. 30, 2011	Dec. 31, 2010
ASSETS
Cash and cash equivalents	$ 84	$ 195
Restricted cash, cash equivalents and investments (including $237 and $254 of available-for-sale securities at fair value)	528	531
Mortgage loans held for sale	2,699	4,329
Accounts receivable, net	729	573
Net investment in fleet leases	3,414	3,492
Mortgage servicing rights	1,198	1,442
Property, plant and equipment, net	59	46
Goodwill	25	25
Other assets	599	637
Total assets	9,335	11,270
LIABILITIES AND EQUITY
Accounts payable and accrued expenses	437	521
Debt	6,561	8,085
Deferred taxes	621	728
Other liabilities	274	358
Total liabilities	7,893	9,692
Commitments and contingencies (Note 10)
EQUITY
Preferred stock, $0.01 par value; 1,090,000 shares authorized; none issued or outstanding
Common stock, $0.01 par value; 273,910,000 shares authorized; 56,340,713 shares issued and outstanding at September 30, 2011; 55,699,218 shares issued and outstanding at December 31, 2010	1	1
Additional paid-in capital	1,080	1,069
Retained earnings	325	465
Accumulated other comprehensive income	21	29
Total PHH Corporation stockholders' equity	1,427	1,564
Noncontrolling interest	15	14
Total equity	1,442	1,578
Total liabilities and equity	$ 9,335	$ 11,270