CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) In Millions, except Share data, 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
Property and equipment, net	69		75
Other assets	509		522
Total assets	8,542	[1]	8,848	[1]
LIABILITIES
Accounts payable and accrued expenses	763		803
Debt	5,334		5,505
Other liabilities	140		165
Total liabilities	6,898	[1]	7,158	[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)	57,379,112		57,265,517
Common stock, shares outstanding (in shares)	57,379,112		57,265,517
Variable Interest Entity
ASSETS
Cash and cash equivalents	94		99
Restricted cash	304		206
Mortgage loans held for sale	274		318
Accounts receivable, net	154		53
Net investment in fleet leases	3,556		3,581
Property and equipment, net	2		2
Other assets	30		25
Total assets	4,414		4,284
LIABILITIES
Accounts payable and accrued expenses	21		23
Debt	3,807		3,753
Other liabilities	13		12
Total liabilities	$ 3,841		$ 3,788

[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: