Avis 2009 Annual Report Download - page 116

Table of Contents
For the Year Ended December 31, 2008
F
-
54
Parent
Subsidiary
Issuers
Guarantor
Subsidiaries
Non
-
Guarantor
Subsidiaries
Eliminations
Total
Revenues
Vehicle rental
$
-
$
-
$
3,941
$
623
$
-
$
4,564
Other
3
-
1,044
2,038
(1,665
)
1,420
Net revenues
3
-
4,985
2,661
(1,665
)
5,984
Expenses
Operating
3
12
2,629
503
-
3,147
Vehicle depreciation and
lease charges, net
-
-
1,486
1,276
(1,065
)
1,697
Selling, general and
administrative
15
-
563
77
-
655
Vehicle interest, net
-
-
295
207
(181
)
321
Non-vehicle related
depreciation and
amortization
-
-
80
8
-
88
Interest expense related to
corporate debt, net:
Interest expense
(1
)
133
-
(3
)
-
129
Intercompany interest
expense (income)
-
(133
)
133
-
-
-
Restructuring charges
-
-
25
3
-
28
Impairment
18
12
1,214
18
-
1,262
Separation costs
(2
)
2
-
-
-
-
Total expenses
33
26
6,425
2,089
(1,246
)
7,327
Income (loss) before income
taxes and equity in
earnings of subsidiaries
(30
)
(26
)
(1,440
)
572
(419
)
(1,343
)
Provision (benefit) for income
taxes
(14
)
2
(272
)
65
-
(219
)
Equity in earnings (loss) of
subsidiaries
(1,108
)
(1,080
)
88
-
2,100
-
Net income (loss)
$
(1,124
)
$
(1,108
)
$
(1,080
)
$
507
$
1,681
$
(1,124
)