Thrifty Car Rental 2006 Annual Report Download - page 46

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Fair Value
Expected Maturity Dates December 31,
as of December 31, 2005 2006 2007 2008 2009 2010 Total 2005
(in thousands)
Debt:
Vehicle debt and obligations-
floating rates (1) 1,400,725$ 312,500$ 500,000$ -$ 290,000$ 2,503,225$ 2,500,671$
Weighted average interest rates 4.87% 5.66% 5.41% - 5.14%
Vehicle debt and obligations-
fixed rates -$ -$ -$ -$ 110,000$ 110,000$ 108,687$
Weighted average interest rates - - - - 4.59%
Vehicle debt and obligations-
Canadian dollar denominated 114,322$ -$ -$ -$ -$ 114,322$ 114,322$
Weighted average interest rates 3.48% - - - -
Interest Rate Swaps:
Variable to Fixed 295,833$ 312,500$ 500,000$ -$ 190,000$ 1,298,333$ 1,277,430$
Average pay rate 5.53% 3.64% 4.20% - 4.58%
Average receive rate 4.98% 4.98% 4.94% - 4.97%
(1) Floating rate vehicle debt and obligations include $233 million relating to the Series 2001 Notes, the $375 million Series 2003 Notes, the
$500 million Series 2004 Notes and $190 million relating to the Series 2005 Notes swapped from floating interest rates to fixed interest rates.
Interest rate sensitivity – Based on the Company’s level of floating rate debt (excluding notes with floating
interest rates swapped to effectively fixed interest rates) at December 31, 2006, a 50 basis point
fluctuation in short-term interest rates would have an approximate $5 million impact on the Company’s
expected pretax income.
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