Avis 2007 Annual Report Download - page 85

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Table of Contents
Year Ended December 31, 2005
Wright
Express
(a)(b)
PHH
(a)(c)
Marketing
Services
Division
(a)
Realogy
Net revenues
$
29
$
179
$
1,066
$
7,139
Income (loss) before income taxes
$
(7
)
$
1
$
90
$
1,065
Provision (benefit) for income taxes
(3
)
25
37
414
Income (loss) from discontinued operations, net of tax
$
(4
)
$
(24
)
$
53
$
651
Gain (loss) on disposal of discontinued operations
$
585
$
(285
)
$
1,146
$
-
Provision for income taxes
332
-
565
-
Gain (loss) on disposal of discontinued operations, net of
tax
$
253
$
(285
)
$
581
$
-
Wyndham
Travelport
(d)
Total
Net revenues
$
3,252
$
2,400
$
14,065
Income (loss) before income taxes
$
643
$
(118
)
$
1,674
Provision (benefit) for income taxes
187
(74
)
586
Income (loss) from discontinued operations, net of tax
$
456
$
(44
)
$
1,088
Gain (loss) on disposal of discontinued operations
$
-
$
-
$
1,446
Provision for income taxes
-
-
897
Gain (loss) on disposal of discontinued operations, net of tax
$
-
$
-
$
549
(a)
Results are through the date of disposition.
(b)
Gain on disposal includes payments received from Wright Express in connection with the tax receivable agreement discussed above.
(c)
The provision for income taxes reflects a $24 million charge associated with separating the appraisal business from the Company in
connection with the PHH spin-off.
F
-
22
(d)
Results include a pretax impairment charge of $425 million. (See Note 2—Summary of Significant Accounting Policies.)