Avis 2013 Annual Report Download - page 75

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F-3
Avis Budget Group, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
Year Ended December 31,
2013 2012 2011
Revenues
Vehicle rental $ 5,707 $ 5,297 $ 4,338
Other 2,230 2,060 1,562
Net revenues 7,937 7,357 5,900
Expenses
Operating 4,074 3,824 3,025
Vehicle depreciation and lease charges, net 1,811 1,471 1,223
Selling, general and administrative 1,019 925 756
Vehicle interest, net 264 297 286
Non-vehicle related depreciation and amortization 152 125 95
Interest expense related to corporate debt, net:
Interest expense 228 268 219
Early extinguishment of debt 147 75 —
Restructuring expense 61 38 5
Transaction-related costs 51 34 255
Impairment 33 — —
Total expenses 7,840 7,057 5,864
Income before income taxes 97 300 36
Provision for income taxes 81 10 65
Net income (loss) $ 16 $ 290 $ (29)
Earnings (loss) per share
Basic $ 0.15 $ 2.72 $ (0.28)
Diluted $ 0.15 $ 2.42 $ (0.28)
See Notes to Consolidated Financial Statements.