Avis 2015 Annual Report Download - page 74
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F-5
Avis Budget Group, Inc.
CONSOLIDATED BALANCE SHEETS
(In millions, except par value)
December 31,
2015 2014
Assets
Current assets:
Cash and cash equivalents $ 452 $ 624
Receivables (net of allowance for doubtful accounts of $34, respectively) 668 599
Other current assets 507 456
Total current assets 1,627 1,679
Property and equipment, net 681 638
Deferred income taxes 1,488 1,511
Goodwill 973 842
Other intangibles, net 917 886
Other non-current assets 232 228
Total assets exclusive of assets under vehicle programs 5,918 5,784
Assets under vehicle programs:
Program cash 258 119
Vehicles, net 10,658 10,215
Receivables from vehicle manufacturers and other 438 362
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party 362 362
11,716 11,058
Total assets $ 17,634 $ 16,842
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable and other current liabilities $ 1,485 $ 1,491
Short-term debt and current portion of long-term debt 26 28
Total current liabilities 1,511 1,519
Long-term debt 3,435 3,325
Other non-current liabilities 734 766
Total liabilities exclusive of liabilities under vehicle programs 5,680 5,610
Liabilities under vehicle programs:
Debt 2,064 1,760
Debt due to Avis Budget Rental Car Funding (AESOP) LLC—related party 6,796 6,296
Deferred income taxes 2,367 2,267
Other 288 244
11,515 10,567
Commitments and contingencies (Note 14)
Stockholders’ equity:
Preferred stock, $.01 par value—authorized 10 shares; none issued and outstanding — —
Common stock, $.01 par value—authorized 250 shares; issued 137 shares, respectively 1 1
Additional paid-in capital 7,010 7,212
Accumulated deficit (1,802) (2,115)
Accumulated other comprehensive loss (147) (22)
Treasury stock, at cost—39 and 31 shares, respectively (4,623) (4,411)
Total stockholders’ equity 439 665
Total liabilities and stockholders’ equity $ 17,634 $ 16,842
See Notes to Consolidated Financial Statements.