Thrifty Car Rental 2008 Annual Report Download - page 30

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ITEM 6. SELECTED FINANCIAL DATA
Selected Consolidated Financial Data of the Company
The selected consolidated financial data was derived from the audited consolidated financial statements
of the Company. The system-wide data and company-owned stores data were derived from Company
records.
2008 2007 2006 2005 2004
Statements of Operations:
(in thousands except per share amounts)
Revenues:
Vehicle rentals 1,616,153$ 1,676,349$ 1,538,673$ 1,380,172$ 1,255,890$
Other 81,840 84,442 122,004 127,382 147,957
Total revenues 1,697,993 1,760,791 1,660,677 1,507,554 1,403,847
Costs and expenses:
Direct vehicle and operating 888,294 887,178 827,440 787,714 692,803
Vehicle depreciation and lease
charges, net 539,406 477,853 380,005 294,757 316,199
Selling, general and
administrative 213,734 230,515 259,474 236,055 223,109
Interest expense, net 110,424 109,728 95,974 88,208 90,868
Goodwill and long-lived asset impairment 366,822 3,719 - - -
Total costs and expenses 2,118,680 1,708,993 1,562,893 1,406,734 1,322,979
(Increase) decrease in fair value of derivatives 36,114 38,990 9,363 (29,725) (24,265)
Income (loss) before income taxes (456,801) 12,808 88,421 130,545 105,133
Income tax expense (benefit) (116,379) 11,593 36,729 54,190 42,390
Income (loss) before cumulative effect of
a change in accounting principle (340,422) 1,215 51,692 76,355 62,743
Cumulative effect of a change in
accounting principle - - - - 3,730
Net income (loss) (340,422)$ 1,215$ 51,692$ 76,355$ 66,473$
BASIC EARNINGS (LOSS) PER SHARE:
Income (loss) before cumulative effect of a change
in accounting principle (15.93)$ 0.05$ 2.14$ 3.04$ 2.51$
Cumulative effect of a change in accounting
principle - - - - 0.15
Net income (loss) (15.93)$ 0.05$ 2.14$ 3.04$ 2.66$
DILUTED EARNINGS (LOSS) PER SHARE:
Income (loss) before cumulative effect of a change
in accounting principle (15.93)$ 0.05$ 2.04$ 2.89$ 2.39$
Cumulative effect of a change in accounting
principle - - - - 0.14
Net income (loss) (15.93)$ 0.05$ 2.04$ 2.89$ 2.53$
Balance Sheet Data:
(in thousands)
Cash and cash equivalents 229,636$ 101,025$ 191,981$ 274,299$ 204,453$
Restricted cash and investments 596,588$ 132,945$ 389,794$ 785,290$ 455,215$
Revenue-earning vehicles, net 1,946,079$ 2,808,354$ 2,623,719$ 2,202,890$ 2,256,905$
Total assets 3,238,181$ 3,891,452$ 4,011,498$ 3,986,784$ 3,604,977$
Total debt 2,488,245$ 2,656,562$ 2,744,284$ 2,724,952$ 2,500,426$
Stockholders' equity 214,716$ 578,865$ 647,700$ 690,428$ 608,743$
Note: Certain reclassifications have been made to the 2007 financial information to conform to the classification used in 2008.
Year Ended December 31,
28