Avis 2007 Annual Report Download - page 119

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Table of Contents
For the Year Ended December 31, 2005
F
-
56
Parent
Subsidiary
Issuers
Guarantor
Subsidiaries
Non
-
Guarantor
Subsidiaries
Eliminations
Total
Revenues
Vehicle rental
$
-
$
-
$
3,824
$
478
$
-
$
4,302
Other
63
-
746
1,925
(1,636
)
1,098
Net revenues
63
-
4,570
2,403
(1,636
)
5,400
Expenses
Operating
7
-
2,340
383
(1
)
2,729
Vehicle depreciation and lease
charges, net
-
-
1,096
1,498
(1,356
)
1,238
Selling, general and administrative
182
-
547
93
35
857
Vehicle interest, net
-
-
300
255
(246
)
309
Non-vehicle related depreciation
and amortization
17
-
75
24
-
116
Interest expense related to
corporate debt, net:
Interest expense
197
-
(17
)
1
(9
)
172
Separation costs, net
15
-
-
-
15
Restructuring charges
19
-
7
-
-
26
Total expenses
437
-
4,348
2,254
(1,577
)
5,462
Income (loss) before income taxes
and equity in earnings of
subsidiaries
(374
)
-
222
149
(59
)
(62
)
Provision (benefit) for income taxes
(188
)
-
80
42
15
(51
)
Equity in earnings of subsidiaries
175
261
119
-
(555
)
-
Income (loss) from continuing
operations
(11
)
261
261
107
(629
)
(11
)
Income (loss) from discontinued
operations, net of tax
1,637
-
-
1,088
(1,088
)
1,637
Income (loss) before cumulative
effect of accounting changes
1,626
261
261
1,195
(1,717
)
1,626
Cumulative effect of accounting
changes, net of tax
(8
)
(8
)
(8
)
-
16
(8
)
Net income (loss)
$
1,618
$
253
$
253
$
1,195
$
(1,701
)
$
1,618