Avis 2013 Annual Report Download - page 118

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F-46
Consolidating Condensed Statements of Operations
For the Year Ended December 31, 2013
Parent
Subsidiary
Issuers
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Total
Revenues
Vehicle rental $ — $ — $ 3,786 $1,921 $—$
5,707
Other — — 1,098 3,086 (1,954)2,230
Net revenues — — 4,884 5,007 (1,954)7,937
Expenses
Operating 7 15 2,425 1,627 —4,074
Vehicle depreciation and lease charges,
net — — 1,776 1,806 (1,771)1,811
Selling, general and administrative 35 6 591 387 —1,019
Vehicle interest, net — — 182 265 (183)264
Non-vehicle related depreciation and
amortization — 2 97 53 — 152
Interest expense related to corporate
debt, net:
Interest expense 3 196 —29—
228
Intercompany interest expense
(income) (12) (30)636——
Early extinguishment of debt 53 94 — — — 147
Restructuring expense — — 25 36 — 61
Transaction-related costs 1 24 3 23 — 51
Impairment — 33 — — — 33
Total expenses 87 340 5,105 4,262 (1,954)7,840
Income (loss) before income taxes and
equity in earnings of subsidiaries (87) (340)(221)745 —97
Provision for (benefit from) income taxes (14) (124)156 63 — 81
Equity in earnings of subsidiaries 89 305 682 —(1,076)—
Net income $16$ 89$
305 $682 $(1,076)$ 16
Comprehensive income $23$ 96$
310 $657 $(1,063)$ 23