Avis 2006 Annual Report Download - page 106

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Table of Contents
22. Selected Quarterly Financial Data—(unaudited)
Provided below are selected unaudited quarterly financial data for 2006 and 2005.
The underlying diluted per share information is calculated from the weighted average common and common stock equivalents outstanding
during each quarter, which may fluctuate based on quarterly income levels, market prices and share repurchases. Therefore, the sum of the
quarters’ per share information may not equal the total year amounts presented on the Consolidated Statements of Operations.
F
-
49
2006
(a)
First
Second
(b)
Third
Fourth
Net revenues
Domestic Car Rental
$
1,044
$
1,132
$
1,190
$
1,029
International Car Rental
174
178
222
187
Truck Rental
101
129
141
101
Corporate and Other
18
15
13
15
$
1,337
$
1,454
$
1,566
$
1,332
EBITDA
Domestic Car Rental
$
31
$
74
$
57
$
52
International Car Rental
23
19
44
25
Truck Rental
1
18
20
6
Corporate and Other
(66
)
(96
)
(194
)
(37
)
(11
)
15
(73
)
46
Less: Non
-
vehicle related depreciation and amortization
27
28
25
25
Interest expense related to corporate debt, net
60
97
363
29
Loss before income taxes
$
(98
)
$
(110
)
$
(461
)
$
(8
)
Income (loss) from continuing operations
$
(66
)
$
(64
)
$
(325
)
$
4
Income (loss) from discontinued operations, net of tax
215
317
(54
)
-
Loss on disposal of discontinued operations, net of tax
(15
)
(1,307
)
(634
)
(1
)
Cumulative effect of accounting change, net of tax
(64
)
-
-
-
Net income (loss)
$
70
$
(1,054
)
$
(1,013
)
$
3
Per share information:
Basic
Income (loss) from continuing operations
$
(0.66
)
$
(0.64
)
$
(3.23
)
$
0.04
Income (loss) from discontinued operations
2.14
3.17
(0.54
)
-
Loss on disposal of discontinued operations
(0.15
)
(13.05
)
(6.30
)
(0.02
)
Cumulative effect of accounting change, net of tax
(0.63
)
-
-
-
Net income (loss)
$
0.70
$
(10.52
)
$
(10.07
)
$
0.02
Weighted average shares
100.6
100.1
100.6
101.1
Diluted
Income (loss) from continuing operations
$
(0.66
)
$
(0.64
)
$
(3.23
)
$
0.04
Income (loss) from discontinued operations
2.14
3.17
(0.54
)
-
Loss on disposal of discontinued operations
(0.15
)
(13.05
)
(6.30
)
(0.02
)
Cumulative effect of accounting change, net of tax
(0.63
)
-
-
-
Net income (loss)
$
0.70
$
(10.52
)
$
(10.07
)
$
0.02
Weighted average shares
100.6
100.1
100.6
101.6
Avis Budget common stock market prices:
High
$
23.36
$
23.71
$
24.40
$
22.62
Low
$
20.29
$
20.45
$
17.30
$
18.59