Avis 2009 Annual Report Download - page 89

Table of Contents
Other current assets consisted of:
Property and equipment, net consisted of:
Depreciation and amortization expense relating to property and equipment during 2009, 2008 and 2007 was $93 million, $85 million and
$81 million, respectively (including $26 million, $26 million and $21 million, respectively, of amortization expense relating to capitalized
computer software).
F
-
27
11.
Other Current Assets
As of December 31,
2009
2008
Receivables from Realogy
$
410
$
112
Receivables from Wyndham
249
70
Prepaid expenses
127
127
Other
65
71
$
851
$
380
Represents amounts due for certain contingent, tax and other corporate liabilities assumed by Realogy and Wyndham in connection
with the Cendant Separation. These amounts are due from Realogy and Wyndham on demand upon the Company’s settlement of the
related liability. At December 31, 2009 and 2008, there are corresponding liabilities recorded within accounts payable and other
current liabilities. During 2009, $573 million of receivables from Realogy and Wyndham, and a corresponding amount of liabilities,
were reclassified from non-current to current, primarily related to tax matters. Realogy has posted a letter of credit for the benefit of
the Company to cover Realogy’s performance in respect of these receivables, as more fully described under Note—19 Commitments
and Contingencies.
12.
Property and Equipment, net
As of December 31,
2009
2008
Land
$
48
$
48
Buildings and leasehold improvements
423
368
Capitalized software
328
307
Furniture, fixtures and equipment
176
139
Buses and support vehicles
47
53
Projects in process
22
74
1,044
989
Less: Accumulated depreciation and amortization
(602
)
(504
)
$
442
$
485
(a)
(a)
(a)