Thrifty Car Rental 2008 Annual Report Download - page 83

Download and view the complete annual report

Please find page 83 of the 2008 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 115

  • 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
  • 115

In addition to the letters of credit described in Note 10, the Company had letters of credit totaling
$8.5 million and $12.9 million at December 31, 2008 and 2007, 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, 2008, there were no such guarantees on behalf of franchisees.
At December 31, 2008, the Company had outstanding vehicle purchase commitments of
approximately $68.1 million.
19. BUSINESS SEGMENTS
The Company’s corporate operating structure, is based on a functional structure and combines the
management of operations and administrative functions for both the Dollar and Thrifty brands.
Consistent with this structure, management makes business and operating decisions on an overall
company basis.
Included in the consolidated financial statements are the following amounts relating to geographic
locations:
Year Ended December 31,
2008 2007 2006
(In Thousands)
Revenues:
United States 1,594,283$ 1,646,420$ 1,552,902$
Foreign countries 103,710 114,371 107,775
1,697,993$ 1,760,791$ 1,660,677$
Long-lived assets:
United States 103,260$ 115,654$ 111,134$
Foreign countries 1,182 6,649 5,653
104,442$ 122,303$ 116,787$
Revenues are attributed to geographic regions based on the location of the transaction. Long-lived
assets represent property and equipment.
81