Avis 2012 Annual Report Download - page 59

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F-3
Avis Budget Group, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
Year Ended December 31,
2012
2011
2010
Revenues
Vehicle rental
$
5,297
$
4,338
$
3,882
Other
2,060
1,562
1,303
Net revenues
7,357
5,900
5,185
Expenses
Operating
3,824
3,025
2,616
Vehicle depreciation and lease charges, net
1,471
1,223
1,287
Selling, general and administrative
925
756
569
Vehicle interest, net
297
286
304
Non-vehicle related depreciation and amortization
125
95
90
Interest expense related to corporate debt, net:
Interest expense
268
219
170
Early extinguishment of debt
75
-
52
Transaction-related costs
34
255
14
Restructuring charges
38
5
11
Total expenses
7,057
5,864
5,113
Income before income taxes
300
36
72
Provision for income taxes
10
65
18
Net income (loss)
$
290
$
(29)
$
54
Earnings (loss) per share
Basic
$
2.72
$$
(0.28)
$
0.53
Diluted
$
2.42
$$
(0.28)
$
0.49
See Notes to Consolidated Financial Statements.