|
Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
| Operating activities of continuing operations |
|
|
|
| Net (loss) income |
$ (189) |
$ (236) |
$ 172 |
| Income from discontinued operations (including gain from disposal), net of tax |
(4) |
(7) |
(306) |
| Net loss from continuing operations |
(193) |
(243) |
(134) |
| Adjustments to reconcile net loss from continuing operations to net cash provided by operating activities of continuing operations: |
|
|
|
| Depreciation and amortization |
206 |
227 |
227 |
| Amortization of customer loyalty payments |
63 |
62 |
74 |
| Amortization of debt finance costs |
24 |
37 |
23 |
| Non-cash accrual of repayment fee and amortization of debt discount |
7 |
|
|
| Loss (gain) on early extinguishment of debt |
49 |
(6) |
|
| Payment-in-kind interest |
22 |
14 |
3 |
| Gain on interest rate derivative instruments |
(3) |
(1) |
(22) |
| Loss (gain) on foreign exchange derivative instruments |
1 |
|
(1) |
| Equity in (earnings) losses of investment in Orbitz Worldwide |
(10) |
74 |
18 |
| Equity-based compensation |
6 |
2 |
5 |
| Deferred income taxes |
(1) |
4 |
3 |
| Customer loyalty payments |
(78) |
(47) |
(65) |
| Defined benefit pension plan funding |
(3) |
(27) |
(17) |
| FASA liability |
|
(7) |
(16) |
| Changes in assets and liabilities: |
|
|
|
| Accounts receivable |
(27) |
22 |
(20) |
| Other current assets |
5 |
(3) |
4 |
| Accounts payable, accrued expenses and other current liabilities |
5 |
37 |
9 |
| Other |
27 |
36 |
33 |
| Net cash provided by operating activities of continuing operations |
100 |
181 |
124 |
| Net cash used in operating activities of discontinued operations |
|
|
(12) |
| Investing activities |
|
|
|
| Property and equipment additions |
(107) |
(92) |
(77) |
| Proceeds from the sale of GTA business, net of cash disposed of $7 million |
|
|
628 |
| Proceeds from sale of assets held for sale |
17 |
|
|
| Other |
(6) |
3 |
5 |
| Net cash (used in) provided by investing activities |
(96) |
(89) |
556 |
| Financing activities |
|
|
|
| Proceeds from new term loans |
2,169 |
170 |
|
| Proceeds from revolver borrowings |
73 |
80 |
35 |
| Repayment of term loans |
(1,667) |
(165) |
(658) |
| Repayment of revolver borrowings |
(93) |
(95) |
|
| Repurchase of Senior Notes |
(413) |
(20) |
|
| Repayment of capital lease obligations |
(20) |
(16) |
(14) |
| Debt finance costs |
(55) |
(20) |
(100) |
| Release of cash provided as collateral |
137 |
|
|
| Cash provided as collateral |
(79) |
|
|
| Payments on settlement of foreign exchange derivative contracts |
(8) |
(51) |
|
| Proceeds from settlement of foreign exchange derivative contracts |
4 |
9 |
34 |
| Distribution to a parent company |
(6) |
|
(89) |
| Other |
(2) |
2 |
1 |
| Net cash provided by (used in) financing activities |
40 |
(106) |
(791) |
| Effect of changes in exchange rates on cash and cash equivalents |
|
|
5 |
| Net increase (decrease) in cash and cash equivalents |
44 |
(14) |
(118) |
| Cash and cash equivalents at beginning of year |
110 |
124 |
242 |
| Cash and cash equivalents at end of year |
154 |
110 |
124 |
| Supplemental disclosure of cash flow information of continuing operations |
|
|
|
| Interest payments |
273 |
232 |
267 |
| Income tax payments, net |
29 |
16 |
22 |
| Non-cash capital lease additions |
32 |
63 |
28 |
| Non-cash capital distribution to a parent company |
25 |
|
208 |
| Exchange of Second Priority Secured Notes for Tranche 2 Loans (see Note 10) |
229 |
|
|
| Exchange of Senior Notes due 2014 and 2016 for new Senior Notes due 2016 (see Note 10) |
$ 591 |
|
|