CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Millions, unless otherwise specified	Jun. 30, 2013		Dec. 31, 2012
ASSETS
Cash and cash equivalents	$ 1,044		$ 829
Restricted cash, cash equivalents and investments (including $0 and $121 of available-for-sale securities at fair value)	349		425
Mortgage loans held for sale	1,751		2,174
Accounts receivable, net	972		797
Net investment in fleet leases	3,736		3,636
Mortgage servicing rights	1,247		1,022
Property, plant and equipment, net	76		79
Goodwill	25		25
Other assets	571		616
Total assets	9,771	[1]	9,603	[1]
LIABILITIES AND EQUITY
Accounts payable and accrued expenses	782		586
Debt	6,323		6,554
Deferred taxes	705		622
Other liabilities	274		279
Total liabilities	8,084	[1]	8,041	[1]
Commitments and contingencies (Note 13)
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; 57,105,651 shares issued and outstanding at June 30, 2013; 56,975,991 shares issued and outstanding at December 31, 2012	1		1
Additional paid-in capital	1,133		1,127
Retained earnings	514		372
Accumulated other comprehensive income	14		26
Total PHH Corporation stockholders' equity	1,662		1,526
Noncontrolling interest	25		36
Total equity	1,687		1,562
Total liabilities and equity	$ 9,771		$ 9,603

[1] The Condensed Consolidated Balance Sheets include assets of variable interest entities which can be used only to settle their obligations and liabilities of variable interest entities which creditors or beneficial interest holders do not have recourse to PHH Corporation and subsidiaries as follows: