Avis 2015 Annual Report Download - page 112

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F-43
Consolidating Condensed Statements of Operations
For the Year Ended December 31, 2015
Parent Subsidiary
Issuers Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Total
Revenues
Vehicle rental $ — $ — $ 4,124 $1,902 $ — $ 6,026
Other — — 1,181 3,335 (2,040)2,476
Net revenues — — 5,305 5,237 (2,040)8,502
Expenses
Operating 2 17 2,587 1,678 —4,284
Vehicle depreciation and lease charges,
net — 1 1,819 1,936 (1,823)1,933
Selling, general and administrative 32 15 619 427 —1,093
Vehicle interest, net — — 204 302 (217)289
Non-vehicle related depreciation and
amortization — 1 133 84 — 218
Interest expense related to corporate
debt, net:
Interest expense — 159 (5) 40 — 194
Intercompany interest expense
(income) (12) (11) 16 7 — —
Early extinguishment of debt — 23 — — — 23
Transaction-related costs, net — 22 6 40 — 68
Restructuring expense — — 6 12 — 18
Total expenses 22 227 5,385 4,526 (2,040)8,120
Income (loss) before income taxes and
equity in earnings of subsidiaries (22) (227)(80)711 —382
Provision for (benefit from) income taxes (9) (178)170 86 — 69
Equity in earnings of subsidiaries 326 375 625 —(1,326) —
Net income $ 313 $ 326 $375 $625 $(1,326) $ 313
Comprehensive income $ 188 $ 203 $253 $504 $(960) $ 188