Avis 2012 Annual Report Download - page 101

Download and view the complete annual report

Please find page 101 of the 2012 Avis annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 129

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129

F-45
Consolidating Condensed Statements of Operations
For the Year Ended December 31, 2012
Parent
Subsidiary
Issuers
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries
Eliminations
Total
Revenues
Vehicle rental
$
-
$
-
$
3,491
$
1,806
$
-
$
5,297
Other
1
-
1,052
2,130
(1,123)
2,060
Net revenues
1
-
4,543
3,936
(1,123)
7,357
Expenses
Operating
-
5
2,305
1,514
-
3,824
Vehicle depreciation and lease
charges, net
-
-
902
996
(427)
1,471
Selling, general and administrative
21
-
573
331
-
925
Vehicle interest, net
-
-
234
300
(237)
297
Non-vehicle related depreciation and
amortization
-
2
75
48
-
125
Interest expense related to corporate
debt, net:
Interest expense
9
246
-
13
-
268
Intercompany interest expense
(income)
(18)
(314)
277
55
-
-
Early extinguishment of debt
44
31
-
-
-
75
Transaction-related costs
4
1
1
28
-
34
Restructuring charges
-
-
3
35
-
38
Total expenses
60
(29)
4,370
3,320
(664)
7,057
Income (loss) before income taxes
and equity in earnings of
subsidiaries
(59)
29
173
616
(459)
300
Provision for (benefit) from income
taxes
(8)
(106)
72
52
-
10
Equity in earnings (loss) of subsidiaries
341
206
105
-
(652)
-
Net income (loss)
$
290
$
341
$
206
$
564
$
(1,111)
$
290
Comprehensive income
$
322
$
373
$
237
$
594
$
(1,204)
$
322