Avis 2010 Annual Report Download - page 87

Table of Contents
Other current assets consisted of:
Property and equipment, net consisted of:
Depreciation and amortization expense relating to property and equipment during 2010, 2009, and 2008 was $87 million, $93 million and
$85 million, respectively (including $28 million, $26 million and $26 million, respectively, of amortization expense relating to capitalized
computer software).
F
-
23
9.
Other Current Assets
As of December 31,
2010
2009
Prepaid expenses
$
140
$
127
Receivables from Wyndham
26
249
Receivables from Realogy
25
410
Other
91
65
$
282
$
851
Represents amounts due for certain contingent, tax and other corporate liabilities assumed by Realogy and Wyndham in connection
with the Separation. These amounts are due from Realogy and Wyndham on demand upon the Company’s settlement of the related
liability. At December 31, 2010 and 2009, there are corresponding liabilities recorded within accounts payable and other current
liabilities. 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 16—Commitments and Contingencies. During 2010, in connection with the
conclusion of the IRS audit, the Company reduced its income taxes payable and the related receivables from Realogy and Wyndham
(see Note 8
—
Income Taxes).
10.
Property and Equipment, net
As of December 31,
2010
2009
Land
$
48
$
48
Buildings and leasehold improvements
412
423
Capitalized software
346
328
Furniture, fixtures and equipment
182
176
Buses and support vehicles
53
47
Projects in process
30
22
1,071
1,044
Less: Accumulated depreciation and amortization
(646
)
(602
)
$
425
$
442
(a)
(a)
(a)