CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Millions, unless otherwise specified	Mar. 31, 2014		Dec. 31, 2013
ASSETS
Cash and cash equivalents	$ 1,155		$ 1,245
Restricted cash	336		234
Mortgage loans held for sale	605		834
Accounts receivable, net	1,000		981
Net investment in fleet leases	3,619		3,653
Mortgage servicing rights	1,224		1,279
Property and equipment, net	69		75
Goodwill	25		25
Other assets	509		522
Total assets	8,542	[1]	8,848	[1]
LIABILITIES AND EQUITY
Accounts payable and accrued expenses	763		803
Debt	5,334		5,505
Deferred taxes	661		685
Other liabilities	140		165
Total liabilities	6,898	[1]	7,158	[1]
Commitments and contingencies (Note 12)
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; 57,379,112 shares issued and outstanding at March 31, 2014; 57,265,517 shares issued and outstanding at December 31, 2013	1		1
Additional paid-in capital	1,147		1,142
Retained earnings	465		507
Accumulated other comprehensive income	9		16
Total PHH Corporation stockholders' equity	1,622		1,666
Noncontrolling interest	22		24
Total equity	1,644		1,690
Total liabilities and equity	$ 8,542		$ 8,848

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