Avis 2012 Annual Report Download - page 61

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F-5
Avis Budget Group, Inc.
CONSOLIDATED BALANCE SHEETS
(In millions, except share data)
December 31,
2012
2011
Assets
Current assets:
Cash and cash equivalents
$
606
$
534
Receivables (net of allowance for doubtful accounts of $40 and $21)
553
507
Deferred income taxes
146
120
Other current assets
405
380
Total current assets
1,710
1,541
Property and equipment, net
529
493
Deferred income taxes
1,454
444
Goodwill
375
353
Other intangibles, net
731
713
Other non-current assets
320
304
Total assets exclusive of assets under vehicle programs
5,119
3,848
Assets under vehicle programs:
Program cash
24
11
Vehicles, net
9,274
8,356
Receivables from vehicle manufacturers and other
439
380
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party
362
343
10,099
9,090
Total assets
$
15,218
$
12,938
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable and other current liabilities
$
1,421
$
1,433
Short-term debt and current portion of long-term debt
57
37
Total current liabilities
1,478
1,470
Long-term debt
2,848
3,168
Other non-current liabilities
871
960
Total liabilities exclusive of liabilities under vehicle programs
5,197
5,598
Liabilities under vehicle programs:
Debt
1,603
990
Debt due to Avis Budget Rental Car Funding (AESOP) LLC—related party
5,203
4,574
Deferred income taxes
2,163
982
Other
295
382
9,264
6,928
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 137,081,056
and 137,028,464 shares
1
1
Additional paid-in capital
8,211
8,532
Accumulated deficit
(2,376)
(2,666)
Accumulated other comprehensive income
110
78
Treasury stock, at cost—30,027,146 and 31,551,170 shares
(5,189)
(5,533)
Total stockholders’ equity
757
412
Total liabilities and stockholders’ equity
$
15,218
$
12,938
See Notes to Consolidated Financial Statements.