CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) In Millions, except Share data, unless otherwise specified	Sep. 30, 2013		Dec. 31, 2012
ASSETS
Cash and cash equivalents	$ 1,155		$ 829
Restricted cash, cash equivalents and investments	254		425
Mortgage loans held for sale	1,155		2,174
Accounts receivable, net	939		797
Net investment in fleet leases	3,701		3,636
Property, plant and equipment, net	73		79
Other assets	560		616
Total assets (1)	9,099	[1]	9,603	[1]
Restricted investments, at fair value	0		121
LIABILITIES
Accounts payable and accrued expenses	750		586
Debt	5,808		6,554
Other liabilities	225		279
Total liabilities (1)	7,456	[1]	8,041	[1]
EQUITY
Preferred stock, par value (in dollars per share)	$ 0.01		$ 0.01
Preferred stock, shares authorized (in shares)	1,090,000		1,090,000
Preferred stock, shares issued (in shares)	0		0
Preferred stock, shares outstanding (in shares)	0		0
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01
Common stock, shares authorized (in shares)	273,910,000		273,910,000
Common stock, shares issued (in shares)	57,232,456		56,975,991
Common stock, shares outstanding (in shares)	57,232,456		56,975,991
Variable Interest Entity
ASSETS
Cash and cash equivalents	91		66
Restricted cash, cash equivalents and investments	215		249
Mortgage loans held for sale	386		730
Accounts receivable, net	64		90
Net investment in fleet leases	3,629		3,531
Property, plant and equipment, net	2		2
Other assets	35		39
Total assets (1)	4,422		4,707
LIABILITIES
Accounts payable and accrued expenses	26		36
Debt	3,847		4,074
Other liabilities	18		13
Total liabilities (1)	$ 3,891		$ 4,123

[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: