Avis 2007 Annual Report Download - page 114
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Table of Contents
The reportable segments presented below represent the Company’s operating segments for which separate financial information is
available and is utilized on a regular basis by its chief operating decision maker to assess performance and to allocate resources. In
identifying its reportable segments, the Company also considers the nature of services provided by its operating segments. Management
evaluates the operating results of each of its reportable segments based upon revenue and “EBITDA,” which is defined as income from
continuing operations before non-vehicle related depreciation and amortization, any goodwill impairment charge, non-vehicle interest and
income taxes. The Company’s presentation of EBITDA may not be comparable to similarly-titled measures used by other companies.
Year Ended December 31, 2007
During 2007 a $1,195 million charge was recorded for the impairment of goodwill (see Note 2—Summary of Significant Accounting
Policies).
Year Ended December 31, 2006
F
-
51
23.
Segment Information
Domestic
Car Rental
International
Car Rental
Truck
Rental
Corporate
and Other
(c)
Total
Net revenues
(a)
$
4,679
$
873
$
416
$
18
$
5,986
Vehicle depreciation and lease charges, net
1,270
205
96
-
1,571
Vehicle interest, net
259
28
28
-
315
EBITDA
265
131
17
1
414
Non
-
vehicle depreciation and amortization
74
7
2
1
84
Segment assets exclusive of assets under vehicle
programs
2,528
717
192
1,056
4,493
Assets under vehicle programs
6,421
1,043
517
-
7,981
Capital expenditures (excluding vehicles)
79
12
3
-
94
Domestic
Car Rental
International
Car Rental
Truck
Rental
Corporate
and Other
(c)
Total
Net revenues
(a)
$
4,395
$
761
$
472
$
61
$
5,689
Vehicle depreciation and lease charges, net
1,145
178
93
-
1,416
Vehicle interest, net
272
22
26
-
320
EBITDA
214
111
45
(393
)
(23
)
Non
-
vehicle depreciation and amortization
78
6
2
19
105
Segment assets exclusive of assets under vehicle
programs
3,096
919
314
1,242
5,571
Assets under vehicle programs
6,400
798
502
-
7,700
Capital expenditures (excluding vehicles)
63
18
2
12
95