Avis 2013 Annual Report Download - page 124
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F-52
For the Year Ended December 31, 2012
Parent
Subsidiary
Issuers
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Total
Net cash provided by (used in)
operating activities $(43)$
272 $70$
1,650 $(60)$ 1,889
Investing activities
Property and equipment additions — (26)(43)(63)—
(132)
Proceeds received on asset sales — 8 3 10 — 21
Net assets acquired, (net of cash acquired) — — (1) (68)—(69)
Intercompany loan receipts 224 — — — (224)—
Other, net 29 (4) (1) (8) (25)(9)
Net cash provided by (used in)
investing activities exclusive of
vehicle programs 253 (22)(42)(129)(249)(189)
Vehicle programs:
Increase in program cash — — — (13)—(13)
Investment in vehicles — (4) (20) (11,043) — (11,067)
Proceeds received on disposition of
vehicles —32
9,191 —9,196
—(1)
(18) (1,865) — (1,884)
Net cash provided by (used in)
investing activities 253 (23)(60) (1,994) (249)(2,073)
Financing activities
Proceeds from long-term borrowings — 1,152 ———
1,152
Payments on long-term borrowings (222)(1,268)(11)— —
(1,501)
Net change in short term borrowings — — — 10 — 10
Debt financing fees — (16)— — —(16)
Purchases of warrants (29) — — — — (29)
Proceeds from sale of call options 43 — — — — 43
Intercompany loan payments — (224)— —
224 —
Other, net 1 (25)—(60)85 1
Net cash provided by (used in)
financing activities exclusive of
vehicle programs (207)(381)(11)(50)309 (340)
Vehicle programs:
Proceeds from borrowings — — — 12,108 —12,108
Payments on borrowings — — — (11,490) — (11,490)
Debt financing fees — — — (28)—(28)
———
590 —590
Net cash provided by (used in)
financing activities (207)(381)(11)540 309 250
Effect of changes in exchange rates on
cash and cash equivalents ——— 6— 6
Net increase (decrease) in cash and cash
equivalents 3(132)(1)
202 —72
Cash and cash equivalents, beginning of
period 2234 1297 —534
Cash and cash equivalents, end of
period $5$
102 $—$
499 $—$
606