Thrifty Car Rental 2007 Annual Report Download - page 83

Download and view the complete annual report

Please find page 83 of the 2007 Thrifty Car Rental annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 114

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114

hardware maintenance agreements which require annual payments totaling approximately
$1,000,000 for 2008.
In addition to the letters of credit described in Note 10, the Company had letters of credit totaling
$12,936,000 and $10,992,000 at December 31, 2007 and 2006, respectively, which are primarily
used to support its insurance programs and airport concession obligations in Canada. The
Company may also provide guarantees on behalf of franchisees to support compliance with airport
concession bids. Non-performance of the obligation by the franchisee would trigger the obligation of
the Company. At December 31, 2007, there were no such guarantees on behalf of franchisees.
At December 31, 2007, the Company had outstanding vehicle purchase commitments of
approximately $843,848,000.
18. BUSINESS SEGMENTS
The Company’s corporate operating structure, is based on a functional structure and combines the
management of operations and administrative functions for both the Dollar and Thrifty brands.
Consistent with this structure, management makes business and operating decisions on an overall
company basis. The Company no longer reports Dollar and Thrifty as operating segments. Financial
results are not available by brand.
Included in the consolidated financial statements are the following amounts relating to geographic
locations:
Year Ended December 31,
2007 2006 2005
(In Thousands)
Revenues:
United States 1,646,420$ 1,552,902$ 1,413,541$
Foreign countries 114,371 107,775 94,013
1,760,791$ 1,660,677$ 1,507,554$
Long-lived assets:
United States 115,654$ 111,134$ 103,686$
Foreign countries 6,649 5,653 4,376
122,303$ 116,787$ 108,062$
Revenues are attributed to geographic regions based on the location of the transaction. Long-lived
assets represent property and equipment.
75