Avis 2009 Annual Report Download - page 67

Table of Contents
Avis Budget Group, Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
F
-
5
Year Ended December 31,
2009
2008
2007
Operating activities
Net loss
$
(47
)
$
(1,124
)
$
(916
)
Adjustments to arrive at loss from continuing operations
-
-
(31
)
Loss from continuing operations
(47
)
(1,124
)
(947
)
Adjustments to reconcile loss from continuing operations to net cash provided by operating
activities exclusive of vehicle programs:
Non
-
vehicle related depreciation and amortization
96
88
84
Deferred income taxes
(60
)
(241
)
(57
)
Impairment
33
1,262
1,195
Net change in assets and liabilities, excluding the impact of acquisitions and dispositions:
Receivables
52
50
(6
)
Income taxes
10
7
38
Accounts payable and other current liabilities
(19
)
(40
)
(120
)
Other, net
35
63
(38
)
Net cash provided by operating activities exclusive of vehicle programs
100
65
149
Vehicle programs:
Vehicle depreciation
1,391
1,639
1,565
1,391
1,639
1,565
Net cash provided by operating activities
1,491
1,704
1,714
Investing activities
Property and equipment additions
(39
)
(83
)
(94
)
Proceeds received on asset sales
14
17
19
Payments received from (made to) Realogy and Wyndham, net
2
(3
)
(108
)
Net assets acquired (net of cash acquired) and acquisition
-
related payments
-
(88
)
(11
)
Proceeds from sale of investment
-
-
106
Purchase of equity investment
-
-
(60
)
Other, net
(2
)
(14
)
(13
)
Net cash used in investing activities exclusive of vehicle programs
(25
)
(171
)
(161
)
Vehicle programs:
Decrease (increase) in program cash
(145
)
(11
)
13
Investment in vehicles
(6,775
)
(8,608
)
(10,633
)
Proceeds received on disposition of vehicles
7,144
6,722
8,864
Other, net
(33
)
(28
)
-
191
(1,925
)
(1,756
)
Net cash provided by (used in) investing activities
166
(2,096
)
(1,917
)