Avis 2011 Annual Report Download - page 57

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F-3
Avis Budget Group, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
Year Ended December 31,
2011 2010 2009
Revenues
Vehicle rental $ 4,338 $ 3,882 $ 3,906
Other 1,562 1,303 1,225
Net revenues 5,900 5,185 5,131
Expenses
Operating 3,025 2,616 2,636
Vehicle depreciation and lease charges, net 1,223 1,287 1,425
Selling, general and administrative 756 569 551
Vehicle interest, net 286 304 294
Non-vehicle related depreciation and amortization 95 90 96
Interest expense related to corporate debt, net:
Interest expense 219 170 153
Early extinguishment of debt - 52 -
Restructuring charges 5 11 20
Transaction-related costs 255 14 -
Impairment - - 33
Total expenses 5,864 5,113 5,208
Income (loss) before income taxes 36 72 (77)
Provision for (benefit from) income taxes 65 18 (30)
Net income (loss) $ (29) $ 54 $ (47)
Earnings (loss) per share
Basic $ (0.28) $ 0.53 $ (0.46)
Diluted $ (0.28) $ 0.49 $ (0.46)
See Notes to Consolidated Financial Statements.