Avis 2013 Annual Report Download - page 12

• our failure or inability to comply with laws, regulations or contractual obligations or any changes in laws,
regulations or contractual obligations, including with respect to personally identifiable information and
taxes;
• any impact on us from the actions of our licensees, dealers and independent contractors;
• any substantial changes in the cost or supply of fuel, vehicle parts, energy, labor or other resources on
which we depend to operate our business;
• risks related to our indebtedness, including our substantial outstanding debt obligations and our ability to
incur substantially more debt;
• our ability to meet the financial and other covenants contained in the agreements governing our
indebtedness;
• the terms of agreements among us and our former real estate, hospitality and travel distribution
businesses following the separation of those businesses from us in 2006, particularly with respect to the
allocation of assets and liabilities, including contingent liabilities and guarantees, the ability of each of the
separated companies to perform its obligations, including indemnification obligations, under these
agreements, and the right of our former real estate business to control the process for resolving disputes
related to contingent liabilities and assets;
• risks associated with litigation or governmental or regulatory inquiries or investigations involving our
Company;
• risks related to tax obligations and the effect of future changes in accounting standards;
• risks related to our October 2011 acquisition of Avis Europe plc (“Avis Europe”), including our ability to
realize the synergies contemplated by the transaction;
• risks related to completed or future acquisitions or investments that we may pursue, including any
incurrence of incremental indebtedness to help fund such transactions and our ability to promptly and
effectively integrate any acquired businesses; and
• other business, economic, competitive, governmental, regulatory, political or technological factors
affecting our operations, pricing or services.
We operate in a continuously changing business environment and new risk factors emerge from time to time. New
risk factors, factors beyond our control, or changes in the impact of identified risk factors may cause actual results
to differ materially from those set forth in any forward-looking statements. Accordingly, forward-looking statements
should not be relied upon as a prediction of actual results. Moreover, we do not assume responsibility for the
accuracy and completeness of those statements. Other factors and assumptions not identified above, including
those discussed in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” set
forth in Item 7, in “Risk Factors” set forth in Item 1A and other portions of this Annual Report on Form 10-K may
contain forward-looking statements and involve uncertainties that could cause actual results to differ materially
from those projected in such statements. Such statements are based upon assumptions and known risks and
uncertainties.
Although we believe that our assumptions are reasonable, any or all of our forward-looking statements may prove
to be inaccurate and we can make no guarantees about our future performance. Should unknown risks or
uncertainties materialize or underlying assumptions prove inaccurate, actual results could differ materially from
past results and/or those anticipated, estimated or projected. Except to the extent of our obligations under the
federal securities laws, we undertake no obligation to release any revisions to any forward-looking statements, to
report events or to report the occurrence of unanticipated events. For any forward-looking statements contained in
any document, we claim the protection of the safe harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995.