Thrifty Car Rental 2010 Annual Report Download - page 89

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16. BUSINESS SEGMENTS
The Company’s corporate operating structure is based on a functional structure and combines
the management of operations and administrative functions for both the Dollar and Thrifty
brands. Consistent with this structure, management makes business and operating decisions
on an overall company basis.
Included in the consolidated financial statements are the following amounts relating to
geographic locations:
Year Ended December 31,
2010 2009 2008
(In Thousands)
Revenues:
United States 1,455,958$ 1,466,508$ 1,594,283$
Foreign countries 81,202 79,741 103,710
1,537,160$ 1,546,249$ 1,697,993$
Long-lived assets:
United States 88,433$ 94,606$ 103,260$
Foreign countries 1,795 1,592 1,182
90,228$ 96,198$ 104,442$
Revenues are attributed to geographic regions based on the location of the transaction.
Long-lived assets represent property and equipment.
17. SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
A summary of the quarterly operating results during 2010 and 2009 follows:
Year Ended First Second Third Fourth 2010
De cem ber 31, 2010 Quarter Quarter Quarter Quarter Total
Revenues 348,330$ 396,227$ 443,544$ 349,059$ 1,537,160$
Operating income (a) 61,088$ 84,436$ 94,246$ 43,314$ 283,084$
Net income 27,292$ 42,263$ 49,165$ 12,496$ 131,216$
Earnings per share: (b)
Basic 0.96$ 1.48$ 1.72$ 0.44$ 4.58$
Diluted 0.91$ 1.40$ 1.62$ 0.41$ 4.34$
Year Ended First Second Third Fourth 2009
De cem ber 31, 2009 Quarter Quarter Quarter Quarter Total
Revenues 362,422$ 399,613$ 438,892$ 345,322$ 1,546,249$
Operating income (a) 10,535$ 33,567$ 67,766$ 39,444$ 151,312$
Net income (loss) (8,940)$ 12,404$ 30,094$ 11,464$ 45,022$
Earnings (loss) per share: (b)
Basic (0.42)$ 0.58$ 1.38$ 0.44$ 1.98$
Diluted (0.42)$ 0.55$ 1.29$ 0.42$ 1.88$
(In Thousands Except Per Share Amounts)
(In Thousands Except Per Share Amounts)
(a) Operating income represents pretax income before interest, long-lived asset impairment and (increase)
decrease in fair value of derivatives.
(b) The earnings (loss) per share is calculated from the weighted average common and common stock
equivalents outstanding during each quarter, which may fluctuate based on quarterly income levels and
market prices. Therefore, the sum of earnings per share information for each quarter may not equal the
total year amounts.
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