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Table of Contents
Avis Budget Group, Inc.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(In millions)
F
-
7
Common Stock
Additional
Paid-in
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Income
Treasury Stock
Total
Stockholders’
Equity
Shares
Amount
Shares
Amount
Balance at January 1, 2005
133.3
$
1
$
11,802
$
5,948
$
274
(28.2
)
$
(5,561
)
$ 12,464
Comprehensive income:
Net income
-
-
-
1,618
-
-
-
Currency translation adjustment, net of tax of $(20)
-
-
-
-
(219
)
-
-
Unrealized gains on cash flow hedges, net of tax of $26
-
-
-
-
39
-
-
Reclassification for gains on cash flow hedges, net of tax of $(8)
-
-
-
-
(11
)
-
-
Unrealized loss on available
-
for
-
sale securities, net of tax of $1
-
-
-
-
(2
)
-
-
Reclassification for realized holding gains on available-for- sale
securities, net of tax of $(10)
-
-
-
-
(13
)
-
-
Minimum pension liability adjustment, net of tax of $(12)
-
-
-
-
(17
)
-
-
Total comprehensive income
1,395
Net activity related to restricted stock units
-
-
14
-
-
0.3
63
77
Exercise of stock options
1.7
-
135
-
-
0.8
133
268
Tax benefit from exercise of stock options
-
-
79
-
-
-
-
79
Repurchases of common stock
-
-
-
-
-
(6.8
)
(1,349
)
(1,349
)
Payment of dividends
-
-
-
(423
)
-
-
-
(423
)
Dividend of PHH Corporation
-
-
-
(1,427
)
(11
)
-
-
(1,438
)
Adjustment to offset PHH valuation charge included in net
income
-
-
-
281
-
-
-
281
Other
0.1
-
(8
)
-
-
-
(4
)
(12
)
Balance at December 31, 2005
135.1
$
1
$
12,022
$
5,997
$
40
(33.9
)
$
(6,718
)
$
11,342