Travelport Worldwide (TVPT) Inactive 10-Q2 Nov 152015 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2015	Nov. 02, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	Travelport Worldwide LTD
Entity Central Index Key	1,424,755
Trading Symbol	tvpt
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		122,653,593
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Net revenue	$ 560	$ 529	$ 1,686	$ 1,652
Costs and expenses
Cost of revenue	336	320	1,020	1,010
Selling, general and administrative	114	130	340	315
Depreciation and amortization	56	58	175	171
Total costs and expenses	506	508	1,535	1,496
Operating income	54	21	151	156
Interest expense, net	(40)	(67)	(118)	(237)
Loss on early extinguishment of debt		(94)		(108)
Gain on sale of shares of Orbitz Worldwide		304	6	356
Income before income taxes and share of (losses) earnings in equity method investments	14	164	39	167
Provision for income taxes	(8)	(11)	(24)	(33)
Share of (losses) earnings in equity method investments	(1)	2	(1)	(1)
Net income	5	155	14	133
Net income attributable to non-controlling interest in subsidiaries	(1)	(1)	(3)	(4)
Net income attributable to the Company	$ 4	$ 154	$ 11	$ 129
Income per share - Basic:
Income per share (in dollars per share)	$ 0.03	$ 1.75	$ 0.09	$ 1.75
Weighted average common shares outstanding - Basic (in shares)	122,495,392	88,254,078	122,062,715	73,701,371
Income per share - Diluted:
Income per share (in dollars per share)	$ 0.03	$ 1.71	$ 0.09	$ 1.70
Weighted average common shares outstanding - Diluted (in shares)	122,724,141	90,464,651	122,563,359	76,073,381
Cash dividends declared per Common Share (in dollars per share)	$ 0.075		$ 0.225

CONSOLIDATED CONDENSED STATEME3

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 5	$ 155	$ 14	$ 133
Other comprehensive loss, net of tax:
Currency translation adjustment, net of tax	(3)	(7)	(9)	(5)
Changes in gain on available-for-sale securities, net of tax		6	(6)	6
Changes in loss on cash flow hedges, net of tax				4
Changes in loss on equity investment, net of tax		(3)		(7)
Other comprehensive loss, net of tax	(3)	(4)	(15)	(2)
Comprehensive income (loss)	2	151	(1)	131
Comprehensive income attributable to non-controlling interest in subsidiaries	(1)	(1)	(3)	(4)
Comprehensive income (loss) attributable to the Company	$ 1	$ 150	$ (4)	$ 127

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS (unaudited) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 101	$ 139
Accounts receivable (net of allowances for doubtful accounts of $14 and $14)	237	184
Deferred income taxes	3	5
Other current assets	116	84
Total current assets	457	412
Property and equipment, net	449	414
Goodwill	1,055	997
Trademarks and tradenames	314	314
Other intangible assets, net	564	619
Cash held as collateral		26
Deferred income taxes	9	9
Other non-current assets	90	101
Total assets	2,938	2,892
Current liabilities:
Accounts payable	64	73
Accrued expenses and other current liabilities	463	426
Current portion of long-term debt	67	56
Total current liabilities	594	555
Long-term debt	2,405	2,384
Deferred income taxes	57	54
Other non-current liabilities	241	237
Total liabilities	$ 3,297	$ 3,230
Commitments and contingencies (Note 9)
Shareholders' equity (deficit):
Preference shares ($0.0025 par value; 225,000,000 shares authorized; no shares issued and outstanding as of both September 30, 2015 and December 31, 2014)
Common shares ($0.0025 par value; 560,000,000 shares authorized; 124,262,703 shares and 122,505,599 shares issued; 122,500,140 shares and 121,411,360 shares outstanding as of September 30, 2015 and December 31, 2014, respectively)
Additional paid in capital	$ 2,724	$ 2,715
Treasury shares, at cost (1,762,563 shares and 1,094,239 shares as of September 30, 2015 and December 31, 2014, respectively)	(28)
Accumulated deficit	(2,887)	(2,898)
Accumulated other comprehensive loss	(189)	(174)
Total shareholders' equity (deficit)	(380)	(357)
Equity attributable to non-controlling interest in subsidiaries	21	19
Total equity (deficit)	(359)	(338)
Total liabilities and equity	$ 2,938	$ 2,892

CONSOLIDATED CONDENSED BALANCE5

CONSOLIDATED CONDENSED BALANCE SHEETS (unaudited) (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Allowances for doubtful accounts receivable (in dollars)	$ 14	$ 14
Preferred stock, par value (in dollars per share)	$ 0.0025	$ 0.0025
Preferred stock, share authorized	225,000,000	225,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.0025	$ 0.0025
Common stock, shares authorized	560,000,000	560,000,000
Common stock, shares issued	124,262,703	122,505,599
Common stock, shares outstanding	122,500,140	121,411,360
Treasury stock, shares	1,762,563	1,094,239

CONSOLIDATED CONDENSED STATEME6

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities
Net income	$ 14	$ 133
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	175	171
Amortization of customer loyalty payments	51	56
Gain on sale of shares of Orbitz Worldwide	(6)	(356)
Amortization of debt finance costs	5	8
Accrual of repayment fee and amortization of debt discount	3	7
Loss on early extinguishment of debt		108
(Gain) loss on foreign exchange derivative instruments	(7)	10
Payment-in-kind interest		17
Share of losses in equity method investments	1	1
Equity-based compensation	25	30
Deferred income taxes	4	9
Customer loyalty payments	(56)	(66)
Pension liability contribution	(2)	(5)
Changes in assets and liabilities:
Accounts receivable	(49)	(51)
Other current assets	(39)	(1)
Accounts payable, accrued expenses and other current liabilities	32	(88)
Other	3	6
Net cash provided by (used in) operating activities	154	(11)
Investing activities
Property and equipment additions	(76)	(83)
Proceeds from sale of shares of Orbitz Worldwide	6	366
Business acquired, net of cash	(61)	(10)
Purchase of equity method investment		(10)
Net cash (used in) provided by investing activities	(131)	263
Financing activities
Proceeds from issuance of common shares in initial public offering		445
Proceeds from term loans		2,345
Proceeds from bridge loans		425
Repayment of term loans under senior secured credit agreement	(18)	(1,477)
Repayment of bridge loans		(425)
Repayment of term loans under second lien credit agreement		(863)
Repurchase / repayment of senior notes and senior subordinated notes		(588)
Proceeds from revolver borrowings	30	75
Repayment of revolver borrowings	(30)	(75)
Repayment of capital lease obligations and other indebtedness	(26)	(23)
Release of cash provided as collateral	26	29
Payment related to early extinguishment of debt		(46)
Purchase of non-controlling interest in subsidiary		(65)
Debt finance costs		(37)
Dividend to shareholders	(28)	(2)
Tax withholding for equity awards (Note 1)	(1)	(5)
Treasury share purchase related to vesting of equity awards (Note 1)	(13)
Proceeds from settlement of derivative instruments		3
Other		4
Net cash used in financing activities	(60)	(280)
Effect of changes in exchange rate on cash and cash equivalents	(1)	(1)
Net decrease in cash and cash equivalents	(38)	(29)
Cash and cash equivalents at beginning of period	139	154
Cash and cash equivalents at end of period	101	125
Supplementary disclosures of cash flow information
Interest payments	109	263
Income tax payments, net	18	19
Non-cash exchange of debt for equity		571
Non-cash capital leases additions (Note 4)	86	$ 14
Non-cash purchase of property and equipment	$ 34

CONSOLIDATED CONDENSED STATEME7

CONSOLIDATED CONDENSED STATEMENT OF CHANGES IN TOTAL EQUITY (DEFICIT) (unaudited) - 9 months ended Sep. 30, 2015 - USD ($) $ in Millions	Common Stock	Additional Paid in Capital	Treasury Shares	Accumulated Deficit	Accumulated Other Comprehensive Loss	Non- Controlling Interest in Subsidiaries	Total
Balance at Dec. 31, 2014		$ 2,715		$ (2,898)	$ (174)	$ 19	$ (338)
Balance (in shares) at Dec. 31, 2014	122,505,599
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Change in accounting policy for treasury shares (Note 1)		17	$ (17)
Change in accounting policy for treasury shares (Note 1) (in shares)			1,094,239
Dividend to shareholders		(28)				(1)	(29)
Equity-based compensation		20					20
Equity-based compensation (in shares)	1,757,104
Treasury shares activity related to vesting of equity awards			$ (11)				(11)
Treasury shares activity related to vesting of equity awards (in shares)			668,324
Comprehensive income (loss), net of tax				11	(15)	3	(1)
Balance at Sep. 30, 2015		$ 2,724	$ (28)	$ (2,887)	$ (189)	$ 21	$ (359)
Balance (in shares) at Sep. 30, 2015	124,262,703		1,762,563

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	1. Basis of Presentation Basis of Presentation Travelport Worldwide Limited (the “Company” or “Travelport”) is a travel commerce platform providing distribution, technology, payment and other solutions for the global travel and tourism industry. With a presence in approximately 170 countries, the Travelport business is comprised of: The Travel Commerce Platform, through which the Company facilitates travel commerce by connecting the world’s leading travel providers, such as airlines and hotel chains, with online and offline travel buyers in the Company’s proprietary business to business (“B2B”) travel commerce platform. As travel industry needs evolve, Travelport is utilizing its Travel Commerce Platform to redefine the electronic distribution and merchandising of airline core and ancillary products, as well as extending its reach into the growing world of travel commerce beyond air, including to hotel, car rental, rail, cruise-line and tour operators. In addition, Travelport has leveraged its domain expertise in the travel industry to design a pioneering B2B payment solution that addresses the needs of travel agencies to efficiently and securely make payments to travel providers globally. The Company also provides travel companies with a mobile travel platform and digital product set that allows airlines, hotels, corporate travel management companies and travel agencies to engage with their customers through mobile services including apps, mobile web and mobile messaging. Travelport utilizes the extensive data managed by its platform to provide an array of additional services, such as advertising solutions, subscription services, business intelligence data services, and marketing-oriented analytical tools to travel agencies, travel providers and other travel data users. Through its Technology Services, Travelport provides critical hosting solutions to airlines, such as pricing, shopping, ticketing, ground handling and other solutions, enabling them to focus on their core business competencies and reduce costs. The Company hosts reservations, inventory management and other related critical systems for Delta Air Lines Inc. These financial statements and other financial information included in this Quarterly Report on Form 10-Q are unaudited, with the exception of the December 31, 2014 balance sheet which was derived from audited financial statements. These consolidated condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. Certain disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. In presenting the consolidated condensed financial statements in accordance with U.S. GAAP, management makes estimates and assumptions that affect the amounts reported and related disclosures. Estimates, by their nature, are based on judgments and available information. Accordingly, actual results could differ from those estimates. In management’s opinion, the consolidated condensed financial statements contain all normal recurring adjustments necessary for a fair presentation of interim results reported. The results of operations reported for interim periods are not necessarily indicative of the results of operations for the entire year or any subsequent interim period. These financial statements should be read in conjunction with the Company’s 2014 Annual Report on Form 10-K filed with the SEC on February 27, 2015. Accounting for Treasury Shares The Company believes that its new accounting method is preferable as it more closely depicts the underlying intent of the shares withheld. In addition, the Company believes that the new presentation in shareholders’ equity provides greater visibility of treasury share activity. The Company’s new method of accounting will present treasury shares as a separate component of shareholders’ equity. This change is limited to reclassifications within shareholders’ equity and has no effect on operating income, net income, total assets or cash flows. The adoption of this new accounting policy did not have any material impact on the financial statements for prior periods.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	9 Months Ended
Recently Issued Accounting Pronouncements	Sep. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recently Issued Accounting Pronouncements	2. Recently Issued Accounting Pronouncements Business Combination In September 2015, the Financial Accounting Standards Board (the “FASB”) issued guidance on accounting for measurement-period adjustments following a business combination. Under previous guidance, when an acquirer identified an adjustment to provisional amounts during the measurement period, the acquirer was required to revise comparative information for prior periods, including making any change in depreciation, amortization, or other income effects recognized in completing the initial accounting, as if the accounting for the business combination had been completed as of the acquisition date. Under the new guidance, an acquirer must recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined, rather than retrospectively. The guidance is applicable to the Company for interim and annual reporting periods beginning after December 15, 2015, and must be applied prospectively to adjustments to provisional amounts that occur after the effective date. Early adoption is permitted for financial statements that have not been previously issued. The Company does not anticipate any significant impact on the consolidated condensed financial statements resulting from the adoption of this guidance. Revenue Recognition In May 2014, the FASB issued guidance on revenue from contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of the time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. In August 2015, the FASB decided to delay the effective date of the new revenue guidance issued in May 2014 by one year but allowed companies a choice to adopt the guidance as of the original effective date that was set out in May 2014. The Company has decided to defer the application date and, consequently, the May 2014 revenue recognition guidance will be applicable to the Company for interim and annual reporting periods beginning after December 15, 2017. The guidance permits the use of either a retrospective or cumulative effect transition method. The Company has not yet selected a transition method and is currently evaluating the impact of the amended guidance on the consolidated condensed financial statements. Simplifying the Presentation of Debt Issuance Costs In April 2015, the FASB issued new guidance which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. The guidance does not affect the recognition and measurement of debt issuance costs which would continue to be calculated using the interest method and be reported as interest expense. Additionally, the other areas of U.S. GAAP that prescribe the accounting treatment for third-party debt issuance costs will not be affected. In August 2015, the FASB issued further guidance to clarify SEC staff position on presenting and measuring debt issuance costs incurred in connection with line-of-credit arrangements whereby such costs could be presented as an asset and subsequently amortized ratably over the term of the line-of-credit arrangement. These guidance are applicable to the Company for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted for financial statements that have not been previously issued. The new guidance will be applied on a retrospective basis when applicable. The Company had unamortized debt issuance costs in relation to its term loans of $25 million and $28 million as of September 30, 2015 and December 31, 2014, respectively. These costs will be reclassified from other non-current assets to long-term debt upon adoption of the guidance. Consolidation—Amendments to the Consolidation Analysis In February 2015, the FASB issued an update to the consolidation analysis under U.S. GAAP. This update changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The guidance is applicable to the Company for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted and may be applied retrospectively. The Company does not anticipate an impact on the consolidated condensed financial statements resulting from the adoption of this guidance. Income Statement—Extraordinary and Unusual Items In January 2015, the FASB issued an update as an initiative to reduce complexity in accounting standards by eliminating the concept of extraordinary items from U.S. GAAP. This update eliminates the requirements to consider whether an underlying event or transaction is extraordinary. However, the presentation and disclosure guidance for items that are unusual in nature or occur infrequently are retained and are expanded to include items that are both unusual in nature and infrequently occurring. The guidance is applicable to the Company for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted and may be applied retrospectively or prospectively. The Company does not anticipate an impact on the consolidated condensed financial statements resulting from the adoption of this guidance. Going Concern In August 2014, the FASB issued guidance on disclosures of uncertainties about an entity’s ability to continue as a going concern. The guidance requires management to assess a company’s ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. Disclosures are required when conditions give rise to substantial doubt about the Company’s ability to continue as a going concern within one year from the financial statements issuance date. The guidance is applicable to the Company for the annual period ending December 31, 2016 and all annual and interim periods thereafter. The Company does not anticipate an impact on the consolidated condensed financial statements resulting from the adoption of this guidance. Compensation—Stock Compensation In June 2014, the FASB issued guidance on accounting for stock compensation where share-based payment awards granted to employees require specific performance targets to be achieved in order for employees to become eligible to vest in the awards and such performance targets could be achieved after an employee completes the requisite service period. The amendment in this update requires a performance target that affects vesting and that could be achieved after the requisite service period to be treated as a performance condition. The guidance is applicable to the Company for interim and annual reporting periods beginning after December 15, 2015, although earlier adoption is permitted. The Company does not anticipate an impact on the consolidated condensed financial statements resulting from the adoption of this guidance. Discontinued Operations In April 2014, the FASB issued guidance on discontinued operations that increased the threshold for a disposal to qualify as a discontinued operation and requires new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. The Company adopted the provisions of this guidance effective January 1, 2015, as required. There was no impact on the consolidated condensed financial statements resulting from the adoption of this guidance. Accounting for Cumulative Translation Adjustment In March 2013, the FASB issued guidance on a parent company’s accounting for the cumulative translation adjustment upon derecognition of certain subsidiaries or groups of assets within a foreign entity. The guidance provides the cumulative translation adjustment should be released into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided, or, if a controlling financial interest is no longer held. The Company adopted the provisions of this guidance effective January 1, 2015, as required. There was no impact on the consolidated condensed financial statements resulting from the adoption of this guidance.

Other Current Assets

Other Current Assets	9 Months Ended
Other Current Assets	Sep. 30, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Current Assets	3. Other Current Assets Other current assets consisted of: (in $ millions) September 30, 2015 December 31, 2014 Prepaid incentives $ 30 $ 13 Prepaid expenses 29 20 Sales and use tax receivables 27 28 Restricted cash 14 9 Derivative assets 1 — Available-for-sale securities — 6 Other 15 8 $ 116 $ 84 Restricted cash represents cash held on behalf of clients for a short period of time before being transferred to travel industry partners. A compensating balance is held in accrued expenses and other current liabilities as customer prepayments. In February 2015, the Company sold all of its available-for-sale securities, which represented shares of common stock of Orbitz Worldwide, Inc. (“Orbitz Worldwide”), realizing a gain of $6 million, all of which was included in and reclassified from accumulated other comprehensive loss.

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
Property and Equipment, Net	Sep. 30, 2015
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	4. Property and Equipment, Net Property and equipment, net, consisted of: September 30, 2015 December 31, 2014 (in $ millions) Cost Accumulated depreciation Net Cost Accumulated depreciation Net Capitalized software $ 833 $ (604 ) $ 229 $ 772 $ (554 ) $ 218 Computer equipment 297 (156 ) 141 297 (175 ) 122 Building and leasehold improvements 23 (8 ) 15 24 (9 ) 15 Construction in progress 64 — 64 59 — 59 $ 1,217 $ (768 ) $ 449 $ 1,152 $ (738 ) $ 414 The Company recorded depreciation expense (including depreciation on assets under capital leases) of $38 million and $39 million during the three months ended September 30, 2015 and 2014, respectively. The Company recorded depreciation expense of $119 million and $113 million during the nine months ended September 30, 2015 and 2014, respectively. As of September 30, 2015 and December 31, 2014, the Company had capital lease assets of $170 million and $152 million, respectively, with accumulated depreciation of $58 million and $63 million, respectively, included within computer equipment. During the nine months ended September 30, 2015, the Company terminated certain of its capital lease arrangements retiring $40 million of assets and simultaneously acquiring $86 million of similar assets under capital leases. During the same period, the Company also purchased $34 million of software in a non-cash transaction, partially financing it through a third-party. The amount of interest on capital projects capitalized was $1 million and $2 million for the three months ended September 30, 2015 and 2014, respectively. The amount of interest on capital projects capitalized was $2 million and $7 million for the nine months ended September 30, 2015 and 2014, respectively.

Intangible Assets

Intangible Assets	9 Months Ended
Intangible Assets	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	5. Intangible Assets The changes in the carrying amount of goodwill and intangible assets for the Company between January 1, 2015 and September 30, 2015 are as follows: (in $ millions) January 1, 2015 Additions Retirements Foreign Exchange September 30, 2015 Non-Amortizable Assets: Goodwill $ 997 $ 58 $ — $ — $ 1,055 Trademarks and tradenames 314 — — — 314 Other Intangible Assets: Acquired intangible assets 1,129 — (3 ) 1 1,127 Accumulated amortization (687 ) (56 ) 3 (1 ) (741 ) Acquired intangible assets, net 442 (56 ) — — 386 Customer loyalty payments 334 58 (75 ) (6 ) 311 Accumulated amortization (157 ) (51 ) 75 — (133 ) Customer loyalty payments, net 177 7 — (6 ) 178 Other intangible assets, net $ 619 $ (49 ) $ — $ (6 ) $ 564 The changes in the carrying amount of goodwill and intangible assets for the Company between January 1, 2014 and September 30, 2014 are as follows: (in $ millions) January 1, 2014 Additions Retirements Foreign Exchange September 30, 2014 Non-Amortizable Assets: Goodwill $ 986 $ 14 $ — $ — $ 1,000 Trademarks and tradenames 314 — — — 314 Other Intangible Assets: Acquired intangible assets 1,129 — — — 1,129 Accumulated amortization (610 ) (58 ) — — (668 ) Acquired intangible assets, net 519 (58 ) — — 461 Customer loyalty payments 306 86 (52 ) (2 ) 338 Accumulated amortization (154 ) (56 ) 52 — (158 ) Customer loyalty payments, net 152 30 — (2 ) 180 Other intangible assets, net $ 671 $ (28 ) $ — $ (2 ) $ 641 On July 3, 2015, the Company completed the cash acquisition of Mobile Travel Technologies Ltd. (“MTT”), a private company based in Dublin, Ireland. MTT is a mobile travel platform and mobile technology provider for global airlines and travel companies. The purchase price was €55 million ($61 million), net of cash acquired. The preliminary fair values of the net tangible assets acquired and liabilities assumed in connection with the purchase of MTT have been recognized in the consolidated condensed balance sheet based upon their preliminary values at July 3, 2015. The excess of the purchase price over the preliminary fair values of the net tangible assets was recorded as goodwill. The preliminary fair values recorded were based upon a preliminary valuation and the estimates and assumptions used in such valuation are subject to change, which could be significant, within the measurement period (up to one year from the acquisition date). The Company expects to continue to obtain information to assist it in determining the fair values of the net assets acquired at the acquisition date during the measurement period. The Company is in the process of allocating the purchase consideration to acquired identifiable assets and liabilities in respect of an acquisition made in December 2014 for total cash consideration of $5 million. The Company paid cash of $56 million and $66 million for customer loyalty payments during the nine months ended September 30, 2015 and 2014, respectively. Further, as of September 30, 2015 and December 31, 2014, the Company had balances payable of $59 million and $52 million, respectively, for customer loyalty payments (see Note 6—Accrued Expenses and Other Current Liabilities). Amortization expense for acquired intangible assets, which consists of customer relationships, was $18 million and $19 million for the three months ended September 30, 2015 and 2014, respectively, and $56 million and $58 million for the nine months ended September 30, 2015 and 2014, respectively, and is included as a component of depreciation and amortization on the Company’s consolidated condensed statements of operations. Amortization expense for customer loyalty payments was $15 million and $19 million for the three months ended September 30, 2015 and 2014, respectively, and $51 million and $56 million for the nine months ended September 30, 2015 and 2014, respectively, and is included within cost of revenue or revenue in the Company’s consolidated condensed statements of operations.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
Accrued Expenses and Other Current Liabilities	Sep. 30, 2015
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	6. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of: (in $ millions) September 30, 2015 December 31, 2014 Accrued commissions and incentives $ 280 $ 260 Accrued payroll and related 68 59 Deferred revenue 36 27 Accrued interest expense 18 18 Customer prepayments 14 9 Income tax payable 17 16 Derivative contracts 9 16 Pension and post-retirement benefit liabilities 1 2 Other 20 19 $ 463 $ 426 Included in accrued commissions and incentives are $59 million and $52 million of accrued customer loyalty payments as of September 30, 2015 and December 31, 2014, respectively.

Long-Term Debt

Long-Term Debt	9 Months Ended
Long-Term Debt	Sep. 30, 2015
Debt Disclosure [Abstract]
Long-Term Debt	7. Long-Term Debt Long-term debt consisted of: (in $ millions) Interest rate Maturity September 30, 2015 December 31, 2014 Senior Secured Credit Agreement Term loans Dollar denominated (1) L+4.75% September 2021 $ 2,332 $ 2,347 Revolver borrowings Dollar denominated L+5.00% September 2019 — — Capital leases and other indebtedness 140 93 Total debt 2,472 2,440 Less: current portion 67 56 Long-term debt $ 2,405 $ 2,384 (1) Minimum LIBOR floor of 1.00% During the nine months ended September 30, 2015, the Company (i) repaid $18 million of its quarterly installments of term loans as required under the senior secured credit agreement, (ii) amortized $5 million of debt finance costs and $3 million of debt discount, (iii) repaid $25 million and terminated $40 million of its capital leases and entered into $86 million of new capital leases for information technology assets and (iv) incurred $27 million of other indebtedness of which $1 million was repaid. In March 2015, the Company’s credit rating improved and, under the terms of the senior secured credit agreement, the applicable rate in respect of its term loans was reduced by 0.25%, with immediate effect. The interest rate applicable to the term loans is currently based on, at the Company’s election, (i) LIBOR plus 4.75% or (ii) base rate (as defined in the agreement) plus 3.75%. The term loans are subject to a LIBOR floor of 1.00% and a base rate floor of 2.00%. The Company expects to pay interest based on LIBOR plus 4.75% for the term loans. Under the senior secured credit agreement, the Company has a $125 million revolving credit facility with a consortium of banks, which contains a letter of credit sub-limit up to a maximum of $50 million. During the three months ended September 30, 2015, the Company borrowed and repaid $30 million under this facility. As of September 30, 2015, the Company had no outstanding borrowings under its revolving credit facility and utilized $24 million for the issuance of letters of credit, with a balance of $101 million remaining. The senior secured credit agreement also permits the issuance of certain cash collateralized letters of credit in addition to those that can be issued under the revolving credit facility, whereby 103% of cash collateral is to be maintained for outstanding letters of credit. In July 2015, all cash collateralized letters of credit were terminated and the Company received the outstanding balance of cash provided as collateral. As of September 30, 2015, there were no outstanding cash collateralized letters of credit. As of September 30, 2015, the Company was in compliance with all debt covenants under the senior secured credit agreement.

Financial Instruments

Financial Instruments	9 Months Ended
Financial Instruments	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	8. Financial Instruments The Company uses derivative financial instruments as part of its overall strategy to manage its exposure to market risks primarily associated with fluctuations in foreign currency exchange rates. The Company does not use derivatives for trading or speculative purposes. During the nine months ended September 30, 2015, there was no material change in the Company’s foreign currency risk management policies or in its fair value methodology. As of September 30, 2015, the Company had a net liability position of $9 million related to derivative financial instruments associated with its foreign currency denominated receivables and payables, and forecasted earnings of its foreign subsidiaries. The primary interest rate risk exposure as of September 30, 2015 was the impact of LIBOR interest rates on the Company’s dollar denominated variable rate term loan borrowings. The term loans have a 1.00% LIBOR floor. During the nine months ended September 30, 2015, LIBOR rates were below 1.00%. Presented below is a summary of the fair value of the Company’s derivative contracts, which have not been designated as hedging instruments, recorded on the consolidated condensed balance sheets at fair value. Fair Value Asset Fair Value (Liability) (in $ millions) Balance Sheet Location September 30, 2015 December 31, 2014 Balance Sheet Location September 30, 2015 December 31, 2014 Foreign currency forward contracts Other current $ 1 — Accrued expenses $ (9 ) $ (16 ) Foreign currency forward contracts — — Other non-current (1 ) — $ 1 $ — $ (10 ) $ (16 ) As of September 30, 2015, the notional amounts of foreign currency forward contracts were $275 million. These derivative contracts cover transactions for a period that does not exceed two years. The following table provides a reconciliation of the movement in the net carrying amount of derivative financial instruments, during the nine months ended September 30, 2015. (in $ millions) Nine Months Ended September 30, 2015 Nine Months Ended September 30, 2014 Net derivative (liability) asset opening balance $ (16 ) $ 10 Total loss for the period included in net income (15 ) (9 ) Total loss for the period accounted through other comprehensive loss — (4 ) Payments on (proceeds from) settlement of foreign currency derivative contracts 22 (6 ) Net derivative liability closing balance $ (9 ) $ (9 ) The significant unobservable inputs used to fair value the Company’s derivative financial instruments are probability of default of approximately 6% and a recovery rate of 20% which are applied to the Company’s credit default swap adjustments. As the credit valuation adjustment applied to arrive at the fair value of derivatives is less than 15% of the unadjusted fair value of derivative instruments for two consecutive quarters, the Company has categorized derivative fair valuations at Level 2 of the fair value hierarchy. A 10% change in the significant unobservable inputs will not have a material impact on the fair value of the derivative financial instruments as of September 30, 2015. The table below presents the impact of changes in fair values of derivatives designated as hedges on other comprehensive loss and the impact derivatives not designated as hedges had on net income during the three and nine months ended September 30, 2015: Amount of Gain Recognized in Other Comprehensive Loss Statement of Operations Location Amount of Loss Recorded in Net Income Three Months Ended September 30, Nine Months Ended September 30, Three Months Ended September 30, Nine Months Ended September 30, (in $ millions) 2015 2014 2015 2014 2015 2014 2015 2014 Derivatives designated as hedging instruments: Interest rate caps $ — $ — $ — $ 4 Interest expense, net $ — $ — $ — $ — Derivatives not designated as hedging instruments: Interest rate caps N/A N/A N/A N/A Interest expense, net — (1 ) — (9 ) Foreign currency forward contracts N/A N/A N/A N/A Selling, general and administrative (10 ) (9 ) (15 ) (7 ) $ (10 ) $ (10 ) $ (15 ) $ (16 ) Fair Value Disclosures for All Financial Instruments The carrying amounts of cash and cash equivalents, accounts receivable, other current assets, accounts payable, and accrued expenses and other current liabilities approximate fair value due to the short-term maturities of these assets and liabilities. The fair values of the Company’s other financial instruments are as follows: September 30, 2015 December 31, 2014 (in $ millions) Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value Asset (liability) Available-for-sale securities Level 1 $ — $ — $ 6 $ 6 Derivative assets Level 2 1 1 — — Derivative liabilities Level 2 (10 ) (10 ) (16 ) (16 ) Total debt Level 2 (2,472 ) (2,489 ) (2,440 ) (2,461 ) The fair value of the Company’s term loans has been determined based on quoted prices obtained from independent brokers for identical debt instruments when traded as an asset and is categorized within Level 2 of the fair value hierarchy.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies Purchase Commitments In the ordinary course of business, the Company makes various commitments to purchase goods and services from specific suppliers, including those related to capital expenditures. As of September 30, 2015, the Company had approximately $76 million of outstanding purchase commitments, primarily relating to service contracts for information technology, of which $48 million relates to the twelve months ending September 30, 2016. These purchase obligations extend through 2019. Contingencies Company Litigation The Company is involved in various claims, legal proceedings and governmental inquiries related to contract disputes, business practices, intellectual property and other commercial, employment and tax matters. The Company believes it has adequately accrued for such matters as appropriate or, for matters not requiring accrual, believes they will not have a material adverse effect on its results of operations, financial position or cash flows based on information currently available. However, litigation is inherently unpredictable and although the Company believes its accruals are adequate and/or that it has valid defenses in these matters, unfavorable resolutions could occur, which could have a material effect on the Company’s results of operations or cash flows in a particular reporting period. Standard Guarantees/Indemnification In the ordinary course of business, the Company enters into numerous agreements that contain standard guarantees and indemnities whereby the Company indemnifies another party for breaches of representations and warranties. In addition, many of these parties are also indemnified against any third-party claim resulting from the transaction that is contemplated in the underlying agreement. Such guarantees or indemnifications are granted under various agreements, including those governing (i) purchases, sales or outsourcing of assets or businesses, (ii) leases of real estate, (iii) licensing of trademarks, (iv) use of derivatives, and (v) issuances of debt. The guarantees or indemnifications issued are for the benefit of the (i) buyers in sale agreements and sellers in purchase agreements, (ii) landlords in lease contracts, (iii) licensees of the Company’s trademarks, (iv) financial institutions in derivative contracts, and (v) underwriters or lenders in debt issuances. While some of these guarantees extend only for the duration of the underlying agreement, many survive the expiration of the term of the agreement or extend into perpetuity (unless subject to a legal statute of limitations). There are no specific limitations on the maximum potential amount of future payments the Company could be required to make under these guarantees, nor is the Company able to develop an estimate of the maximum potential amount of future payments to be made under these guarantees, as the triggering events are not subject to predictability and there is little or no history of claims against the Company under such arrangements. With respect to certain of the aforementioned guarantees, such as indemnifications of landlords against third-party claims for the use of real estate property leased by the Company, the Company maintains insurance coverage that mitigates any potential payments to be made.

Equity

Equity	9 Months Ended
Equity	Sep. 30, 2015
Equity [Abstract]
Equity	10. Equity Dividends on Common Shares The Company’s Board of Directors declared the following cash dividends during the three and nine months ended September 30, 2015: Declaration Date Dividend Per Share Record Date Payment Date Amount (in $ million) February 19, 2015 $ 0.075 March 5, 2015 March 19, 2015 9 May 1, 2015 $ 0.075 June 5, 2015 June 18, 2015 10 July 31, 2015 $ 0.075 September 3, 2015 September 17, 2015 9 On October 28, 2015, the Company’s Board of Directors declared a cash dividend of $0.075 per common share (see Note 13—Subsequent Events).

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
Equity-Based Compensation	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity-Based Compensation	11. Equity-Based Compensation In connection with the acquisition of MTT on July 3, 2015, the Company granted equity awards to MTT executives to be delivered at a future date in the Company’s common shares, based on performance targets and other terms and conditions set forth in the awards. The table below presents the activity of the Company’s restricted share units (“RSUs”) and stock options for the nine months ended September 30, 2015: Restricted Share Units (in dollars, except number of RSUs) Number Weighted Average Grant Date Fair Value Balance as of January 1, 2015 3,196,422 $ 18.68 Granted at fair market value 133,501 $ 14.89 Vested (1) (1,800,857 ) $ 19.81 Forfeited (9,000 ) $ 16.00 Balance as of September 30, 2015 1,520,066 $ 16.91 (1) Primarily relates to the vesting of substantially all of the outstanding performance-based restricted share units (“PRSUs”) under the 2013 equity-based long-term incentive program upon satisfaction of the performance criteria in April 2015. Stock Options (in dollars, except number of stock options) Number Weighted Average Grant Date Fair Value Balance as of January 1, 2015 1,270,871 $ 6.72 Granted at fair market value 121,117 $ 5.37 Forfeited — — Balance as of September 30, 2015 1,391,988 $ 6.61 Of the above outstanding 1,391,988 stock options, 160,000 options have vested and are exercisable as of September 30, 2015. The weighted-average exercise price of options granted during the nine months ended September 30, 2015 was $14.47 per option, with the remaining weighted average contractual term as of September 30, 2015 of 9.65 years. Compensation expense for the nine months ended September 30, 2015 and 2014 resulted in a credit to equity on the Company’s consolidated condensed balance sheets of $20 million and $30 million, respectively. The Company expects the future equity-based compensation expense in relation to awards recognized for accounting purposes as being granted as of September 30, 2015 will be approximately $33 million based on the fair value of the equity awards on the grant date.

Income Per Share

Income Per Share	9 Months Ended
Income Per Share	Sep. 30, 2015
Earnings Per Share [Abstract]
Income Per Share	12. Income Per Share The following table reconciles the numerators and denominators used in the computation of basic and diluted income per share: Three Months Ended September 30, Nine Months Ended September 30, (in $ million, except share data) 2015 2014 2015 2014 Numerator – Basic and Diluted EPS: Net income attributable to the Company $ 4 $ 154 $ 11 $ 129 Denominator – Basic EPS: Weighted average common shares outstanding 122,495,392 88,254,078 122,062,715 73,701,371 Income per share – Basic $ 0.03 $ 1.75 $ 0.09 $ 1.75 Denominator – Diluted EPS: Number of shares used for Basic EPS 122,495,392 88,254,078 122,062,715 73,701,371 Weighted average effect of dilutive securities RSUs 161,744 2,119,936 447,081 2,327,658 Stock Options 67,005 90,637 53,563 44,352 Weighted average common shares outstanding – Diluted 122,724,141 90,464,651 122,563,359 76,073,381 Income per share – Diluted $ 0.03 $ 1.71 $ 0.09 $ 1.70 Basic income per share is based on the weighted average number of common shares outstanding during each period. Diluted income per share is based on the weighted average number of common shares outstanding and the effect of all dilutive common share equivalents during each period. For each of the three and nine months ended September 30, 2015, the Company had 1.1 million of weighted-average common share equivalents, primarily associated with the Company’s stock options that were excluded from the calculation of diluted income per share as their inclusion would have been antidilutive as the common shares repurchased from the total assumed proceeds applying the treasury stock method exceed the common shares that would have been issued. The increase in the weighted average number of common shares outstanding for the three and nine months ended September 30, 2015 compared to the three and nine months ended September 30, 2014 is a result of several debt-for-equity exchanges and the initial public offering of the Company’s common shares during 2014.

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events On October 8, 2015, the Company increased its shareholding in Locomote Holdings Pty Ltd from 49% to a majority ownership stake of 55% and Locomote’s results will be consolidated with the Company from this date. The Company is in the process of allocating the purchase consideration to acquired identifiable assets and liabilities in respect of this step-up acquisition. On October 28, 2015, the Company’s Board of Directors declared a cash dividend of $0.075 per common share for the third quarter of 2015, which is payable on December 17, 2015 to shareholders of record on December 4, 2015.

Accounting Policies (Policies)

Accounting Policies (Policies)	9 Months Ended
Accounting Policies (Policies)	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Travelport Worldwide Limited (the “Company” or “Travelport”) is a travel commerce platform providing distribution, technology, payment and other solutions for the global travel and tourism industry. With a presence in approximately 170 countries, the Travelport business is comprised of: The Travel Commerce Platform, through which the Company facilitates travel commerce by connecting the world’s leading travel providers, such as airlines and hotel chains, with online and offline travel buyers in the Company’s proprietary business to business (“B2B”) travel commerce platform. As travel industry needs evolve, Travelport is utilizing its Travel Commerce Platform to redefine the electronic distribution and merchandising of airline core and ancillary products, as well as extending its reach into the growing world of travel commerce beyond air, including to hotel, car rental, rail, cruise-line and tour operators. In addition, Travelport has leveraged its domain expertise in the travel industry to design a pioneering B2B payment solution that addresses the needs of travel agencies to efficiently and securely make payments to travel providers globally. The Company also provides travel companies with a mobile travel platform and digital product set that allows airlines, hotels, corporate travel management companies and travel agencies to engage with their customers through mobile services including apps, mobile web and mobile messaging. Travelport utilizes the extensive data managed by its platform to provide an array of additional services, such as advertising solutions, subscription services, business intelligence data services, and marketing-oriented analytical tools to travel agencies, travel providers and other travel data users. Through its Technology Services, Travelport provides critical hosting solutions to airlines, such as pricing, shopping, ticketing, ground handling and other solutions, enabling them to focus on their core business competencies and reduce costs. The Company hosts reservations, inventory management and other related critical systems for Delta Air Lines Inc. These financial statements and other financial information included in this Quarterly Report on Form 10-Q are unaudited, with the exception of the December 31, 2014 balance sheet which was derived from audited financial statements. These consolidated condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. Certain disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. In presenting the consolidated condensed financial statements in accordance with U.S. GAAP, management makes estimates and assumptions that affect the amounts reported and related disclosures. Estimates, by their nature, are based on judgments and available information. Accordingly, actual results could differ from those estimates. In management’s opinion, the consolidated condensed financial statements contain all normal recurring adjustments necessary for a fair presentation of interim results reported. The results of operations reported for interim periods are not necessarily indicative of the results of operations for the entire year or any subsequent interim period. These financial statements should be read in conjunction with the Company’s 2014 Annual Report on Form 10-K filed with the SEC on February 27, 2015. Accounting for Treasury Shares The Company believes that its new accounting method is preferable as it more closely depicts the underlying intent of the shares withheld. In addition, the Company believes that the new presentation in shareholders’ equity provides greater visibility of treasury share activity. The Company’s new method of accounting will present treasury shares as a separate component of shareholders’ equity. This change is limited to reclassifications within shareholders’ equity and has no effect on operating income, net income, total assets or cash flows. The adoption of this new accounting policy did not have any material impact on the financial statements for prior periods.
Recently Issued Accounting Pronouncements	Business Combination In September 2015, the Financial Accounting Standards Board (the “FASB”) issued guidance on accounting for measurement-period adjustments following a business combination. Under previous guidance, when an acquirer identified an adjustment to provisional amounts during the measurement period, the acquirer was required to revise comparative information for prior periods, including making any change in depreciation, amortization, or other income effects recognized in completing the initial accounting, as if the accounting for the business combination had been completed as of the acquisition date. Under the new guidance, an acquirer must recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined, rather than retrospectively. The guidance is applicable to the Company for interim and annual reporting periods beginning after December 15, 2015, and must be applied prospectively to adjustments to provisional amounts that occur after the effective date. Early adoption is permitted for financial statements that have not been previously issued. The Company does not anticipate any significant impact on the consolidated condensed financial statements resulting from the adoption of this guidance. Revenue Recognition In May 2014, the FASB issued guidance on revenue from contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of the time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. In August 2015, the FASB decided to delay the effective date of the new revenue guidance issued in May 2014 by one year but allowed companies a choice to adopt the guidance as of the original effective date that was set out in May 2014. The Company has decided to defer the application date and, consequently, the May 2014 revenue recognition guidance will be applicable to the Company for interim and annual reporting periods beginning after December 15, 2017. The guidance permits the use of either a retrospective or cumulative effect transition method. The Company has not yet selected a transition method and is currently evaluating the impact of the amended guidance on the consolidated condensed financial statements. Simplifying the Presentation of Debt Issuance Costs In April 2015, the FASB issued new guidance which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. The guidance does not affect the recognition and measurement of debt issuance costs which would continue to be calculated using the interest method and be reported as interest expense. Additionally, the other areas of U.S. GAAP that prescribe the accounting treatment for third-party debt issuance costs will not be affected. In August 2015, the FASB issued further guidance to clarify SEC staff position on presenting and measuring debt issuance costs incurred in connection with line-of-credit arrangements whereby such costs could be presented as an asset and subsequently amortized ratably over the term of the line-of-credit arrangement. These guidance are applicable to the Company for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted for financial statements that have not been previously issued. The new guidance will be applied on a retrospective basis when applicable. The Company had unamortized debt issuance costs in relation to its term loans of $25 million and $28 million as of September 30, 2015 and December 31, 2014, respectively. These costs will be reclassified from other non-current assets to long-term debt upon adoption of the guidance. Consolidation—Amendments to the Consolidation Analysis In February 2015, the FASB issued an update to the consolidation analysis under U.S. GAAP. This update changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The guidance is applicable to the Company for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted and may be applied retrospectively. The Company does not anticipate an impact on the consolidated condensed financial statements resulting from the adoption of this guidance. Income Statement—Extraordinary and Unusual Items In January 2015, the FASB issued an update as an initiative to reduce complexity in accounting standards by eliminating the concept of extraordinary items from U.S. GAAP. This update eliminates the requirements to consider whether an underlying event or transaction is extraordinary. However, the presentation and disclosure guidance for items that are unusual in nature or occur infrequently are retained and are expanded to include items that are both unusual in nature and infrequently occurring. The guidance is applicable to the Company for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted and may be applied retrospectively or prospectively. The Company does not anticipate an impact on the consolidated condensed financial statements resulting from the adoption of this guidance. Going Concern In August 2014, the FASB issued guidance on disclosures of uncertainties about an entity’s ability to continue as a going concern. The guidance requires management to assess a company’s ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. Disclosures are required when conditions give rise to substantial doubt about the Company’s ability to continue as a going concern within one year from the financial statements issuance date. The guidance is applicable to the Company for the annual period ending December 31, 2016 and all annual and interim periods thereafter. The Company does not anticipate an impact on the consolidated condensed financial statements resulting from the adoption of this guidance. Compensation—Stock Compensation In June 2014, the FASB issued guidance on accounting for stock compensation where share-based payment awards granted to employees require specific performance targets to be achieved in order for employees to become eligible to vest in the awards and such performance targets could be achieved after an employee completes the requisite service period. The amendment in this update requires a performance target that affects vesting and that could be achieved after the requisite service period to be treated as a performance condition. The guidance is applicable to the Company for interim and annual reporting periods beginning after December 15, 2015, although earlier adoption is permitted. The Company does not anticipate an impact on the consolidated condensed financial statements resulting from the adoption of this guidance. Discontinued Operations In April 2014, the FASB issued guidance on discontinued operations that increased the threshold for a disposal to qualify as a discontinued operation and requires new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. The Company adopted the provisions of this guidance effective January 1, 2015, as required. There was no impact on the consolidated condensed financial statements resulting from the adoption of this guidance. Accounting for Cumulative Translation Adjustment In March 2013, the FASB issued guidance on a parent company’s accounting for the cumulative translation adjustment upon derecognition of certain subsidiaries or groups of assets within a foreign entity. The guidance provides the cumulative translation adjustment should be released into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided, or, if a controlling financial interest is no longer held. The Company adopted the provisions of this guidance effective January 1, 2015, as required. There was no impact on the consolidated condensed financial statements resulting from the adoption of this guidance.

Other Current Assets (Tables)

Other Current Assets (Tables)	9 Months Ended
Other Current Assets (Tables)	Sep. 30, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of summary of other current assets	(in $ millions) September 30, 2015 December 31, 2014 Prepaid incentives $ 30 $ 13 Prepaid expenses 29 20 Sales and use tax receivables 27 28 Restricted cash 14 9 Derivative assets 1 — Available-for-sale securities — 6 Other 15 8 $ 116 $ 84

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
Property and Equipment, Net (Tables)	Sep. 30, 2015
Property, Plant and Equipment [Abstract]
Schedule of summary of property and equipment, net	September 30, 2015 December 31, 2014 (in $ millions) Cost Accumulated depreciation Net Cost Accumulated depreciation Net Capitalized software $ 833 $ (604 ) $ 229 $ 772 $ (554 ) $ 218 Computer equipment 297 (156 ) 141 297 (175 ) 122 Building and leasehold improvements 23 (8 ) 15 24 (9 ) 15 Construction in progress 64 — 64 59 — 59 $ 1,217 $ (768 ) $ 449 $ 1,152 $ (738 ) $ 414

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
Intangible Assets (Tables)	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of carrying amount of goodwill and intangible assets	(in $ millions) January 1, 2015 Additions Retirements Foreign Exchange September 30, 2015 Non-Amortizable Assets: Goodwill $ 997 $ 58 $ — $ — $ 1,055 Trademarks and tradenames 314 — — — 314 Other Intangible Assets: Acquired intangible assets 1,129 — (3 ) 1 1,127 Accumulated amortization (687 ) (56 ) 3 (1 ) (741 ) Acquired intangible assets, net 442 (56 ) — — 386 Customer loyalty payments 334 58 (75 ) (6 ) 311 Accumulated amortization (157 ) (51 ) 75 — (133 ) Customer loyalty payments, net 177 7 — (6 ) 178 Other intangible assets, net $ 619 $ (49 ) $ — $ (6 ) $ 564 (in $ millions) January 1, 2014 Additions Retirements Foreign Exchange September 30, 2014 Non-Amortizable Assets: Goodwill $ 986 $ 14 $ — $ — $ 1,000 Trademarks and tradenames 314 — — — 314 Other Intangible Assets: Acquired intangible assets 1,129 — — — 1,129 Accumulated amortization (610 ) (58 ) — — (668 ) Acquired intangible assets, net 519 (58 ) — — 461 Customer loyalty payments 306 86 (52 ) (2 ) 338 Accumulated amortization (154 ) (56 ) 52 — (158 ) Customer loyalty payments, net 152 30 — (2 ) 180 Other intangible assets, net $ 671 $ (28 ) $ — $ (2 ) $ 641

Accrued Expenses and Other Cu25

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
Accrued Expenses and Other Current Liabilities (Tables)	Sep. 30, 2015
Payables and Accruals [Abstract]
Schedule of summary of accrued expenses and other current liabilities	(in $ millions) September 30, 2015 December 31, 2014 Accrued commissions and incentives $ 280 $ 260 Accrued payroll and related 68 59 Deferred revenue 36 27 Accrued interest expense 18 18 Customer prepayments 14 9 Income tax payable 17 16 Derivative contracts 9 16 Pension and post-retirement benefit liabilities 1 2 Other 20 19 $ 463 $ 426

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
Long-Term Debt (Tables)	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of summary of long-term debt	(in $ millions) Interest rate Maturity September 30, 2015 December 31, 2014 Senior Secured Credit Agreement Term loans Dollar denominated (1) L+4.75% September 2021 $ 2,332 $ 2,347 Revolver borrowings Dollar denominated L+5.00% September 2019 — — Capital leases and other indebtedness 140 93 Total debt 2,472 2,440 Less: current portion 67 56 Long-term debt $ 2,405 $ 2,384 (1) Minimum LIBOR floor of 1.00%

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
Financial Instruments (Tables)	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of summary of fair value of company's derivative contracts	Fair Value Asset Fair Value (Liability) (in $ millions) Balance Sheet Location September 30, 2015 December 31, 2014 Balance Sheet Location September 30, 2015 December 31, 2014 Foreign currency forward contracts Other current $ 1 — Accrued expenses $ (9 ) $ (16 ) Foreign currency forward contracts — — Other non-current (1 ) — $ 1 $ — $ (10 ) $ (16 )
Schedule of summary of reconciliation of net carrying amount of derivative financial instruments	(in $ millions) Nine Months Ended September 30, 2015 Nine Months Ended September 30, 2014 Net derivative (liability) asset opening balance $ (16 ) $ 10 Total loss for the period included in net income (15 ) (9 ) Total loss for the period accounted through other comprehensive loss — (4 ) Payments on (proceeds from) settlement of foreign currency derivative contracts 22 (6 ) Net derivative liability closing balance $ (9 ) $ (9 )
Schedule of impact of changes in fair values of derivatives	Amount of Gain Statement of Operations Location Amount of Loss Three Months Nine Months Three Months Nine Months (in $ millions) 2015 2014 2015 2014 2015 2014 2015 2014 Derivatives designated as hedging Interest rate caps $ — $ — $ — $ 4 Interest expense, net $ — $ — $ — $ — Derivatives not designated as hedging instruments: Interest rate caps N/A N/A N/A N/A Interest expense, net — (1 ) — (9 ) Foreign currency forward contracts N/A N/A N/A N/A Selling, general and administrative (10 ) (9 ) (15 ) (7 ) $ (10 ) $ (10 ) $ (15 ) $ (16 )
Schedule of fair values of company's other financial instruments	September 30, 2015 December 31, 2014 (in $ millions) Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value Asset (liability) Available-for-sale securities Level 1 $ — $ — $ 6 $ 6 Derivative assets Level 2 1 1 — — Derivative liabilities Level 2 (10 ) (10 ) (16 ) (16 ) Total debt Level 2 (2,472 ) (2,489 ) (2,440 ) (2,461 )

Equity (Tables)

Equity (Tables)	9 Months Ended
Equity (Tables)	Sep. 30, 2015
Equity [Abstract]
Schedule of cash dividend declared	Declaration Date Dividend Record Payment Amount February 19, 2015 $ 0.075 March 5, 2015 March 19, 2015 9 May 1, 2015 $ 0.075 June 5, 2015 June 18, 2015 10 July 31, 2015 $ 0.075 September 3, 2015 September 17, 2015 9

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
Equity-Based Compensation (Tables)	Sep. 30, 2015
Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of activity of restricted share units ("RSUs") and stock options	Restricted Share Units (in dollars, except number of RSUs) Number Weighted Fair Value Balance as of January 1, 2015 3,196,422 $ 18.68 Granted at fair market value 133,501 $ 14.89 Vested (1) (1,800,857 ) $ 19.81 Forfeited (9,000 ) $ 16.00 Balance as of September 30, 2015 1,520,066 $ 16.91 (1) Primarily relates to the vesting of substantially all of the outstanding performance-based restricted share units (“PRSUs”) under the 2013 equity-based long-term incentive program upon satisfaction of the performance criteria in April 2015.
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of activity of restricted share units ("RSUs") and stock options	Stock Options (in dollars, except number of stock options) Number Weighted Fair Value Balance as of January 1, 2015 1,270,871 $ 6.72 Granted at fair market value 121,117 $ 5.37 Forfeited — — Balance as of September 30, 2015 1,391,988 $ 6.61

Income Per Share (Tables)

Income Per Share (Tables)	9 Months Ended
Income Per Share (Tables)	Sep. 30, 2015
Earnings Per Share [Abstract]
Computation of Basic and Diluted income per share	Three Months Ended Nine Months Ended (in $ million, except share data) 2015 2014 2015 2014 Numerator – Basic and Diluted EPS: Net income attributable to the Company $ 4 $ 154 $ 11 $ 129 Denominator – Basic EPS: Weighted average common shares outstanding 122,495,392 88,254,078 122,062,715 73,701,371 Income per share – Basic $ 0.03 $ 1.75 $ 0.09 $ 1.75 Denominator – Diluted EPS: Number of shares used for Basic EPS 122,495,392 88,254,078 122,062,715 73,701,371 Weighted average effect of dilutive securities RSUs 161,744 2,119,936 447,081 2,327,658 Stock Options 67,005 90,637 53,563 44,352 Weighted average common shares outstanding – Diluted 122,724,141 90,464,651 122,563,359 76,073,381 Income per share – Diluted $ 0.03 $ 1.71 $ 0.09 $ 1.70

Basis of Presentation (Detail T

Basis of Presentation (Detail Textuals)	Sep. 30, 2015Country
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of countries in which company operates	170

Recently Issued Accounting Pr32

Recently Issued Accounting Pronouncements (Detail Textuals) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Unamortized debt issuance cost	$ 25	$ 28

Other Current Assets - Summary

Other Current Assets - Summary of Other Current Assets (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid incentives	$ 30	$ 13
Prepaid expenses	29	20
Sales and use tax receivables	27	28
Restricted cash	14	9
Derivative assets	1
Available-for-sale securities		6
Other	15	8
Other current assets, Total	$ 116	$ 84

Other Current Assets (Detail Te

Other Current Assets (Detail Textuals) $ in Millions	1 Months Ended
Other Current Assets (Detail Textuals) $ in Millions	Feb. 28, 2015USD ($)
Orbitz Worldwide
Other Current Assets [Line Items]
Gain on sale of available-for-sale securities reclassified from accumulated other comprehensive loss	$ 6

Property and Equipment, Net - S

Property and Equipment, Net - Summary of Property and equipment, Net (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Cost	$ 1,217	$ 1,152
Accumulated depreciation	(768)	(738)
Net	449	414
Capitalized software
Property, Plant and Equipment [Line Items]
Cost	833	772
Accumulated depreciation	(604)	(554)
Net	229	218
Computer equipment
Property, Plant and Equipment [Line Items]
Cost	297	297
Accumulated depreciation	(156)	(175)
Net	141	122
Building and leasehold improvements
Property, Plant and Equipment [Line Items]
Cost	23	24
Accumulated depreciation	(8)	(9)
Net	15	15
Construction in progress
Property, Plant and Equipment [Line Items]
Cost	$ 64	$ 59
Accumulated depreciation
Net	$ 64	$ 59

Property and Equipment, Net - (

Property and Equipment, Net - (Detail Textuals) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Depreciation expense (including depreciation on assets under capital leases)	$ 38	$ 39	$ 119	$ 113
Capital lease assets	170		170		$ 152
Capital lease assets, accumulated depreciation	58		58		$ 63
Capital lease assets retired on termination			40
Assets acquired under capital lease			86
Non-cash purchase of software			34
Interest on capital projects capitalized	$ 1	$ 2	2	$ 7
Software
Property, Plant and Equipment [Line Items]
Non-cash purchase of software			$ 34

Intangible Assets - Changes in

Intangible Assets - Changes in the carrying amount of goodwill and intangible assets (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 997	$ 986
Goodwill, Additions	$ 58	$ 14
Goodwill, Retirements
Goodwill, Foreign Exchange
Goodwill, Ending Balance	$ 1,055	$ 1,000
Indefinite-lived Intangible Assets [Roll Forward]
Trademarks and tradenames, Beginning Balance	314
Trademarks and tradenames, Ending Balance	314
Other Intangible Assets:
Other intangible assets, net, Beginning Balance	619	671
Other intangible assets, net, Additions	$ (49)	$ (28)
Other Intangible Assets, Retirements
Other intangible assets, net, Foreign Exchange	$ (6)	$ (2)
Other intangible assets, net, Ending Balance	564	641
Trademarks and tradenames
Indefinite-lived Intangible Assets [Roll Forward]
Trademarks and tradenames, Beginning Balance	$ 314	$ 314
Trademarks and tradenames, Additions
Trademarks and tradenames, Retirements
Trademarks and tradenames, Foreign Exchange
Trademarks and tradenames, Ending Balance	$ 314	$ 314
Customer relationships
Other Intangible Assets:
Total other intangible assets, Beginning Balance	$ 1,129	$ 1,129
Total other intangible assets, Additions
Total other intangible assets, Retirements	$ (3)
Total other intangible assets, Foreign Exchange	1
Total other intangible assets, Ending Balance	1,127	$ 1,129
Accumulated amortization, Beginning Balance	(687)	(610)
Accumulated amortization, Additions	(56)	$ (58)
Accumulated amortization, Retirements	3
Accumulated amortization, Foreign Exchange	(1)
Accumulated amortization, Ending Balance	(741)	$ (668)
Other intangible assets, net, Beginning Balance	442	519
Other intangible assets, net, Additions	$ (56)	$ (58)
Other Intangible Assets, Retirements
Other intangible assets, net, Foreign Exchange
Other intangible assets, net, Ending Balance	$ 386	$ 461
Customer Loyalty Payments
Other Intangible Assets:
Total other intangible assets, Beginning Balance	334	306
Total other intangible assets, Additions	58	86
Total other intangible assets, Retirements	(75)	(52)
Total other intangible assets, Foreign Exchange	(6)	(2)
Total other intangible assets, Ending Balance	311	338
Accumulated amortization, Beginning Balance	(157)	(154)
Accumulated amortization, Additions	(51)	(56)
Accumulated amortization, Retirements	$ 75	$ 52
Accumulated amortization, Foreign Exchange
Accumulated amortization, Ending Balance	$ (133)	$ (158)
Other intangible assets, net, Beginning Balance	177	152
Other intangible assets, net, Additions	$ 7	$ 30
Other Intangible Assets, Retirements
Other intangible assets, net, Foreign Exchange	$ (6)	$ (2)
Other intangible assets, net, Ending Balance	$ 178	$ 180

Intangible Assets - (Detail Tex

Intangible Assets - (Detail Textuals) € in Millions, $ in Millions	Jul. 03, 2015USD ($)	Jul. 03, 2015EUR (€)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Schedule Of Goodwill And Other Intangible Assets [Line Items]
Cash consideration							$ 5
Customer loyalty payments in cash					$ 56	$ 66
Mobile Travel Technologies Ltd.
Schedule Of Goodwill And Other Intangible Assets [Line Items]
Cash consideration	$ 61	€ 55
Customer Loyalty Payments
Schedule Of Goodwill And Other Intangible Assets [Line Items]
Amount payable for customer loyalty payments			$ 59		59		$ 52
Amortization expense			15	$ 19	51	56
Customer relationships
Schedule Of Goodwill And Other Intangible Assets [Line Items]
Amortization expense			$ 18	$ 19	$ 56	$ 58

Accrued Expenses and Other Cu39

Accrued Expenses and Other Current Liabilities - Summary of Accrued expenses and other current liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Accrued commissions and incentives	$ 280	$ 260
Accrued payroll and related	68	59
Deferred revenue	36	27
Accrued interest expense	18	18
Customer prepayments	14	9
Income tax payable	17	16
Derivative contracts	9	16
Pension and post-retirement benefit liabilities	1	2
Other	20	19
Accrued expenses and other current liabilities	$ 463	$ 426

Accrued Expenses and Other Cu40

Accrued Expenses and Other Current Liabilities - (Detail Textuals) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Accrued Expenses And Other Current Liabilities [Line Items]
Accrued commissions and incentives	$ 280	$ 260
Customer Loyalty Payments \| Accrued commissions and incentives
Accrued Expenses And Other Current Liabilities [Line Items]
Accrued commissions and incentives	$ 59	$ 52

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-term debt (Details) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Capital leases and other indebtedness		$ 140	$ 93
Total debt		2,472	2,440
Less: current portion		67	56
Long-term debt		$ 2,405	2,384
Senior Secured Credit Agreement \| Term loans \| Dollar denominated
Debt Instrument [Line Items]
Variable interest rate percentage	[1]	4.75%
Interest rate description on variable rate	[1]	L+4.75%
Maturity	[1]	Sep. 30, 2021
Long-term debt	[1]	$ 2,332	$ 2,347
Senior Secured Credit Agreement \| Revolver borrowings \| Dollar denominated
Debt Instrument [Line Items]
Variable interest rate percentage		5.00%
Interest rate description on variable rate		L+5.00%
Maturity		Sep. 30, 2019
Long-term debt

[1]	Minimum LIBOR floor of 1.00%

Long-Term Debt - Summary of L42

Long-Term Debt - Summary of Long-term debt (Parentheticals) (Details)	Sep. 30, 2015
Senior Secured Credit Agreement \| Term loans \| Dollar denominated
Debt Instrument [Line Items]
LIBOR floor rate	1.00%

Long-Term Debt - (Detail Textua

Long-Term Debt - (Detail Textuals) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended
Long-Term Debt - (Detail Textuals) - USD ($) $ in Millions	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2015
Debt Instrument [Line Items]
Repayment of term loans			$ 18
Amortization of debt finance cost			5
Debt discount amortized			3
Termination of capital lease obligations			$ 40
Variable interest rate description			LIBOR
Assets acquired under capital lease			$ 86
Amount of other indebtedness			27
Amount of other indebtedness repaid			$ 1
Terms of cash collateral			The senior secured credit agreement also permits the issuance of certain cash collateralized letters of credit in addition to those that can be issued under the revolving credit facility, whereby 103% of cash collateral is to be maintained for outstanding letters of credit.
Cash collateral percent of letters of credit			103.00%
Repayment of capital lease			$ 25
Term loans
Debt Instrument [Line Items]
Variable interest rate description	The Company’s credit rating improved and, under the terms of the senior secured credit agreement, the applicable rate in respect of its term loans was reduced by 0.25%, with immediate effect. The interest rate applicable to the term loans is currently based on, at the Company’s election, (i) LIBOR plus 4.75% or (ii) base rate (as defined in the agreement) plus 3.75%.
Reduction in term loan rate	0.25%
Term loans \| LIBOR
Debt Instrument [Line Items]
Variable interest rate	4.75%
Term loans \| Base Rate
Debt Instrument [Line Items]
Variable interest rate	3.75%
Term loans \| FLOOR Rate
Debt Instrument [Line Items]
Base floor rate	2.00%
Revolver borrowings
Debt Instrument [Line Items]
LIBOR floor rate	1.00%
Revolver borrowings \| Senior Secured Credit Agreement
Debt Instrument [Line Items]
Repayment of term loans		$ 30
Borrowed under credit facility		30	30
Line of credit facility, maximum borrowing capacity		125	125
Utilized letter of credit facility		24	24
Remaining capacity under revolving credit facility		101	101
Sublimit Letter of credit \| Senior Secured Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 50	$ 50

Financial Instruments - Summary

Financial Instruments - Summary of fair value of company's derivative contracts (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Derivative assets	$ 1
Fair Value (Liability)	(9)	$ (16)
Foreign currency forward contracts \| Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Derivative assets	1
Fair Value (Liability)	(10)	$ (16)
Foreign currency forward contracts \| Derivatives not designated as hedging instruments \| Other current assets
Derivatives, Fair Value [Line Items]
Derivative assets	1
Foreign currency forward contracts \| Derivatives not designated as hedging instruments \| Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Fair Value (Liability)	(9)	$ (16)
Foreign currency forward contracts \| Derivatives not designated as hedging instruments \| Other non-current liabilities
Derivatives, Fair Value [Line Items]
Fair Value (Liability)	$ (1)

Financial Instruments - Summa45

Financial Instruments - Summary of reconciliation of net carrying amount of derivative financial instruments (Details 1) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net derivative (liability) asset opening balance	$ (16)	$ 10
Total loss for the period included in net income (loss)	(15)	(9)
Total loss for the period accounted through other comprehensive loss		(4)
Payments on (proceeds from) settlement of foreign currency derivative contracts	22	(6)
Net derivative liability closing balance	$ (9)	$ (9)

Financial Instruments - Impact

Financial Instruments - Impact of changes in fair values of derivatives (Details 2) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivatives designated as hedging instruments: \| Interest rate caps \| Interest expense, net
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss)				$ 4
Amount of Gain (Loss) Recorded in Net Income (Loss)
Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recorded in Net Income (Loss)	$ (10)	$ (10)	$ (15)	$ (16)
Derivatives not designated as hedging instruments \| Interest rate caps \| Interest expense, net
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recorded in Net Income (Loss)		(1)		(9)
Derivatives not designated as hedging instruments \| Foreign currency forward contracts \| Selling, general and administrative
Derivatives, Fair Value [Line Items]
Amount of Gain (Loss) Recorded in Net Income (Loss)	$ (10)	$ (9)	$ (15)	$ (7)

Financial Instruments - Fair va

Financial Instruments - Fair values of company's other financial instruments (Details 3) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value Of Financial Instruments [Line Items]
Derivative assets	$ 1
Derivative liabilities	(9)	$ (16)
Total debt, Carrying Amount	$ 2,472	2,440
Carrying Amount \| Level 1
Fair Value Of Financial Instruments [Line Items]
Available-for-sale securities		$ 6
Carrying Amount \| Level 2
Fair Value Of Financial Instruments [Line Items]
Derivative assets	$ 1
Derivative liabilities	(10)	$ (16)
Total debt, Carrying Amount	$ (2,472)	(2,440)
Fair Value \| Level 1
Fair Value Of Financial Instruments [Line Items]
Available-for-sale securities		$ 6
Fair Value \| Level 2
Fair Value Of Financial Instruments [Line Items]
Derivative assets	$ 1
Derivative liabilities	(10)	$ (16)
Total debt, Fair Value	$ (2,489)	$ (2,461)

Financial Instruments - (Detail

Financial Instruments - (Detail Textuals) $ in Millions	9 Months Ended
Financial Instruments - (Detail Textuals) $ in Millions	Sep. 30, 2015USD ($)
Derivatives, Fair Value [Line Items]
Net liability position related to derivative financial instruments	$ (9)
Floor rate for LIBOR	1.00%
Term loan, variable basis rate description	LIBOR
Probability of default percentage	6.00%
Credit default recovery rate percentage	20.00%
Credit risk fair value adjustments	15.00%
Change in unobservable inputs percentage	10.00%
Maximum
Derivatives, Fair Value [Line Items]
Transactions period of derivative contracts	2 years
Foreign Currency Forward Contracts
Derivatives, Fair Value [Line Items]
Derivative contracts, notional amounts	$ 275

Commitments and Contingencies -

Commitments and Contingencies - (Detail Textuals) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
Outstanding purchase commitments	$ 76
Future purchase obligation	$ 48
Purchase obligations maturity period	2,019

Equity - Summary of declared ca

Equity - Summary of declared cash dividends (Details) - USD ($) $ / shares in Units, $ in Millions	May. 01, 2015	Jul. 31, 2015	Feb. 19, 2015	Sep. 30, 2015	Sep. 30, 2015
Dividends Payable [Line Items]
Dividend Per Share				$ 0.075	$ 0.225
Common Stock
Dividends Payable [Line Items]
Dividend Per Share	$ 0.075	$ 0.075	$ 0.075
Declaration Date	May 1, 2015	Jul. 31, 2015	Feb. 19, 2015
Record Date	Jun. 5, 2015	Sep. 3, 2015	Mar. 5, 2015
Payment Date	Jun. 18, 2015	Sep. 17, 2015	Mar. 19, 2015
Amount	$ 10	$ 9	$ 9

Equity (Detail Textuals)

Equity (Detail Textuals) - $ / shares	1 Months Ended	3 Months Ended	9 Months Ended
Equity (Detail Textuals) - $ / shares	Oct. 28, 2015	Sep. 30, 2015	Sep. 30, 2015
Equity [Line Items]
Dividend declared		$ 0.075	$ 0.225
Subsequent Event
Equity [Line Items]
Dividend declared	$ 0.075
Dividend declared date	Oct. 28, 2015

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary of restricted share units (RSUs) (Details) - Restricted Share Units	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Restricted Share Units, Number
Balance as of January 1, 2015 \| shares	3,196,422
Granted at fair market value \| shares	133,501
Vested \| shares	(1,800,857)	[1]
Forfeited \| shares	(9,000)
Balance as of September 30, 2015 \| shares	1,520,066
Restricted Share Units, Weighted Average Grant Date Fair Value
Balance as of January 1, 2015	$ 18.68
Granted at fair market value	14.89
Vested	19.81	[1]
Forfeited	16
Balance as of September 30, 2015	$ 16.91

[1]	Primarily relates to the vesting of substantially all of the outstanding performance-based restricted share units ("PRSUs") under the 2013 equity-based long-term incentive program upon satisfaction of the performance criteria in April 2015.

Equity-Based Compensation - Act

Equity-Based Compensation - Activity of stock option (Details 1) - Stock Options	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Stock Options, Number
Balance as of January 1, 2015 \| shares	1,270,871
Granted at fair market value \| shares	121,117
Forfeited \| shares
Balance as of September 30, 2015 \| shares	1,391,988
Stock Options, Weighted Average Grant Date Fair Value
Balance as of January 1, 2015	$ 6.72
Granted at fair market value	$ 5.37
Forfeited
Balance as of September 30, 2015	$ 6.61

Equity-Based Compensation - (De

Equity-Based Compensation - (Detail Textuals) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense credit to equity (deficit)	$ 20	$ 30
Future equity-based compensation expense	$ 33
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of option outstanding (in shares)	1,391,988		1,270,871
Number of stock options vested and exercisable	160,000
Weighted-average exercise price of options granted	$ 14.47
Remaining weighted average contractual term	9 years 7 months 24 days

Income Per Share - Summary of r

Income Per Share - Summary of reconciles numerators and denominators used in the computation of basic and diluted income per share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Numerator - Basic and Diluted EPS:
Net income attributable to the Company (in dollars)	$ 4	$ 154	$ 11	$ 129
Denominator - Basic EPS:
Weighted average common shares outstanding	122,495,392	88,254,078	122,062,715	73,701,371
Income per share - Basic (in dollars per share)	$ 0.03	$ 1.75	$ 0.09	$ 1.75
Denominator - Diluted EPS:
Number of shares used for Basic EPS	122,495,392	88,254,078	122,062,715	73,701,371
Weighted average effect of dilutive securities
RSUs	161,744	2,119,936	447,081	2,327,658
Stock Options	67,005	90,637	53,563	44,352
Weighted average common shares outstanding - Diluted	122,724,141	90,464,651	122,563,359	76,073,381
Income per share - Diluted (in dollars per share)	$ 0.03	$ 1.71	$ 0.09	$ 1.70

Income Per Share - (Detail Text

Income Per Share - (Detail Textuals) - shares shares in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common share equivalents excluded from the calculation of diluted income per share	1.1	1.1

Subsequent Events - (Detail Tex

Subsequent Events - (Detail Textuals) - $ / shares	1 Months Ended	3 Months Ended	9 Months Ended
Subsequent Events - (Detail Textuals) - $ / shares	Oct. 28, 2015	Sep. 30, 2015	Sep. 30, 2015	Oct. 08, 2015	Oct. 07, 2015
Subsequent Event [Line Items]
Dividend declared		$ 0.075	$ 0.225
Subsequent Event
Subsequent Event [Line Items]
Dividend declared	$ 0.075
Dividend declared date	Oct. 28, 2015
Dividend payable date	Dec. 17, 2015
Dividend payable record date	Dec. 4, 2015
Subsequent Event \| Locomote Holdings Pty Ltd
Subsequent Event [Line Items]
Percentage of ownership stake				55.00%	49.00%