Avis 2014 Annual Report Download - page 111

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F-44
Consolidating Condensed Statements of Operations
For the Year Ended December 31, 2014
Parent
Subsidiary
Issuers
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Total
Revenues
Vehicle rental $ — $ — $ 4,038 $1,988 $—$
6,026
Other — — 1,167 3,426 (2,134)2,459
Net revenues — — 5,205 5,414 (2,134)8,485
Expenses
Operating 10 13 2,525 1,703 —4,251
Vehicle depreciation and lease charges,
net — 1 1,920 1,996 (1,921)1,996
Selling, general and administrative 27 23 602 428 —1,080
Vehicle interest, net — — 200 295 (213)282
Non-vehicle related depreciation and
amortization — 2 111 67 — 180
Interest expense related to corporate
debt, net:
Interest expense 2 163 242—
209
Intercompany interest expense
(income) (13) (11)123——
Early extinguishment of debt — 56 — — — 56
Restructuring expense — — 7 19 — 26
Transaction-related costs, net 1 8 (20)24 — 13
Total expenses 27 255 5,348 4,597 (2,134)8,093
Income (loss) before income taxes and
equity in earnings of subsidiaries (27) (255)(143)817 —392
Provision for (benefit from) income taxes (10) (108)186 79 — 147
Equity in earnings of subsidiaries 262 409 738 —(1,409)—
Net income $ 245 $ 262 $409 $738 $(1,409)$ 245
Comprehensive income $ 106 $ 123 $273 $624 $(1,020)$ 106