Avis 2010 Annual Report Download - page 68

Table of Contents
Avis Budget Group, Inc.
CONSOLIDATED BALANCE SHEETS
(In millions, except share data)
See Notes to Consolidated Financial Statements.
F
-
4
December 31,
2010
2009
Assets
Current assets:
Cash and cash equivalents
$
911
$
482
Receivables (net of allowance for doubtful accounts of $16 and $14)
315
290
Deferred income taxes
130
107
Other current assets
282
851
Total current assets
1,638
1,730
Property and equipment, net
425
442
Deferred income taxes
587
597
Goodwill
76
76
Other intangibles, net
481
478
Other non
-
current assets
255
248
Total assets exclusive of assets under vehicle programs
3,462
3,571
Assets under vehicle programs:
Program cash
4
157
Vehicles, net
6,422
5,967
Receivables from vehicle manufacturers and other
149
170
Investment in Avis Budget Rental Car Funding (AESOP) LLC
—
related party
290
228
6,865
6,522
Total assets
$
10,327
$
10,093
Liabilities and stockholders
’
equity
Current liabilities:
Accounts payable and other current liabilities
$
925
$
1,272
Current portion of long
-
term debt
8
12
Total current liabilities
933
1,284
Long
-
term debt
2,494
2,119
Other non
-
current liabilities
535
630
Total liabilities exclusive of liabilities under vehicle programs
3,962
4,033
Liabilities under vehicle programs:
Debt
528
714
Debt due to Avis Budget Rental Car Funding (AESOP) LLC
—
related party
3,987
3,660
Deferred income taxes
1,333
1,267
Other
107
197
5,955
5,838
Commitments and contingencies (Note 16)
Stockholders
’
equity:
Preferred stock, $.01 par value
—
authorized 10 million shares; none issued and outstanding
-
-
Common stock, $.01 par value
—
authorized 250 million shares; issued 136,982,068 and 136,931,540 shares
1
1
Additional paid
-
in capital
8,828
9,098
Accumulated deficit
(2,637
)
(2,691
)
Accumulated other comprehensive income (loss)
92
(37
)
Treasury stock, at cost
—
33,247,139 and 34,612,016 shares
(5,874
)
(6,149
)
Total stockholders
’
equity
410
222
Total liabilities and stockholders
’
equity
$
10,327
$
10,093