Avis 2009 Annual Report Download - page 113

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Table of Contents
Year Ended December 31, 2008
In 2008, a $1,262 million charge was recorded for the impairment of goodwill, intangible assets and investments (see Note 2—Summary of
Significant Accounting Policies).
Year Ended December 31, 2007
In 2007, a $1,195 million charge was recorded for the impairment of goodwill (see Note 2—Summary of Significant Accounting Policies).
Provided below is a reconciliation of EBITDA to loss before income taxes.
F
-
51
Domestic
Car Rental
International
Car Rental
Truck
Rental
Corporate
and Other
Total
Net revenues
$
4,695
$
904
$
382
$
3
$
5,984
Vehicle depreciation and lease charges, net
1,403
211
-
1,697
Vehicle interest, net
262
-
321
EBITDA
141
(4
)
(13
)
136
Non
-
vehicle depreciation and amortization
8
3
-
Segment assets exclusive of assets under
vehicle programs
1,928
485
106
973
3,492
Assets under vehicle programs
6,538
780
508
-
7,826
Capital expenditures (excluding vehicles)
1
-
Includes the results of operations of the Company
’
s investments, unallocated corporate overhead and the elimination of transactions
between segments.
Domestic
Car Rental
International
Car Rental
Truck
Rental
Corporate
and Other
Total
Net revenues
$
4,679
$
873
$
416
$
18
$
5,986
Vehicle depreciation and lease charges, net
1,270
205
96
-
1,571
Vehicle interest, net
259
28
-
315
EBITDA
265
131
17
1
414
Non
-
vehicle depreciation and amortization
74
7
2
1
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
3
-
Includes the results of operations of the Company’s investments, unallocated corporate overhead and the elimination of transactions
between segments.
Year Ended December 31,
2009
2008
2007
EBITDA
$
205
$
136
$
414
Less: Non
-
vehicle related depreciation and amortization
96
88
84
Interest expense related to corporate debt, net
153
129
127
Impairment
33
1,262
1,195
Loss before income taxes
$
(77
)
$
(1,343
)
$
(992
)
(a)
(a)
(a)
(a)