Avis 2006 Annual Report Download - page 76

Table of Contents
Summarized statement of operations data for discontinued operations are as follows:
Year Ended December 31, 2006
Wright
Express
(a)
Marketing
Services
Division
(b)
Realogy
(c)
Net revenues
$
-
$
-
$
3,856
Income before income taxes
$
-
$
-
$
445
Provision for income taxes
-
-
172
Income from discontinued operations, net of tax
$
-
$
-
$
273
Gain (loss) on disposal of discontinued operations
$
9
$
(15
)
$
(76
)
Provision (benefit) for income taxes
3
27
(22
)
Gain (loss) on disposal of discontinued operations, net of tax
$
6
$
(42
)
$
(54
)
Wyndham
(c)(d)
Travelport
(c)
Total
Net revenues
$
2,052
$
1,859
$
7,767
Income before income taxes
$
377
$
170
$
992
Provision for income taxes
288
54
514
Income from discontinued operations, net of tax
$
89
$
116
$
478
Gain (loss) on disposal of discontinued operations
$
(83
)
$
(1,464
)
$
(1,629
)
Provision (benefit) for income taxes
(25
)
345
328
Gain (loss) on disposal of discontinued operations, net of tax
$
(58
)
$
(1,809
)
$
(1,957
)
(a)
Gain on disposal includes payments received from Wright Express in connection with the tax receivable agreement discussed above.
(b)
Represents payments in connection with a guarantee obligation made to the Company’
s former Marketing Services division and a tax
charge primarily related to state taxes prior to the date of disposition.
(c)
Results are through the date of disposition.
F
-
19
(d)
The provision for income taxes reflects a $158 million charge associated with separating the vacation ownership business from the
Company in connection with the spin-off of Wyndham.