Avis 2009 Annual Report Download - page 68

Table of Contents
Avis Budget Group, Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
(In millions)
See Notes to Consolidated Financial Statements.
F
-
6
Year Ended December 31,
2009
2008
2007
Financing activities
Proceeds from borrowings
445
-
-
Principal payments on borrowings
(111
)
(10
)
(45
)
Proceeds from warrant issuance
62
-
-
Purchase of call options
(95
)
-
-
Repurchases of common stock
-
(33
)
-
Issuances of common stock
-
-
50
Other, net
(13
)
(28
)
(1
)
Net cash provided by (used in) financing activities exclusive of vehicle programs
288
(71
)
4
Vehicle programs:
Proceeds from borrowings
7,527
8,476
10,565
Principal payments on borrowings
(9,147
)
(8,060
)
(10,236
)
Net change in short
-
term borrowings
(107
)
152
(86
)
Other, net
(26
)
(34
)
(8
)
(1,753
)
534
235
Net cash provided by (used in) financing activities
(1,465
)
463
239
Effect of changes in exchange rates on cash and cash equivalents
32
(27
)
6
Net increase in cash and cash equivalents
224
44
42
Cash and cash equivalents, beginning of period
258
214
172
Cash and cash equivalents, end of period
$
482
$
258
$
214
Supplemental Disclosure
Interest payments
$
461
$
468
$
461
Income tax payments (refunds), net
$
20
$
15
$
(26
)