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&lt;p style="FONT-FAMILY: times;"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Revenue-Earning Vehicles and Related Vehicle Depreciation Expense&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;font size="2"&gt;&amp;#8212;Revenue-earning vehicles are stated at cost, net of related discounts. At December&amp;#160;31, 2011, Non-Program Vehicles accounted for approximately 96% of the Company's total fleet.&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: times;"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The Company must estimate the expected residual values of Non-Program Vehicles at the expected time of disposal to determine monthly depreciation rates. The estimation of residual values requires the Company to make assumptions regarding the age and mileage of the car at the time of disposal, as well as the general used vehicle market conditions at the time of sale, including the impact of seasonality on vehicle residuals. The Company evaluates estimated residual values at least quarterly, and adjusts depreciation rates accordingly, on a prospective basis. Differences between actual residual values and those estimated by the Company result in a gain or loss on disposal and are recorded as an adjustment to depreciation expense. Actual timing of disposal either shorter or longer than the life used for depreciation purposes could result in a loss or gain on sale. Vehicle rental companies bear residual value risk for these vehicles, which are referred to as "Non-Program Vehicles". Generally, the average holding term for Non-Program Vehicles is approximately 18 to 22&amp;#160;months.&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: times;"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The Company is required to depreciate the vehicle according to the terms of the guaranteed depreciation or repurchase program ("Program Vehicles") and in doing so is guaranteed to receive the full net book value in proceeds upon the sale of the vehicle. In some cases, the sales proceeds are received directly from auctions, with any shortfall in value being paid by the vehicle manufacturer. With certain other vehicle manufacturers, the entire balance of proceeds from vehicle sales comes directly from the manufacturer. In either case, the Company bears the risk of collectability on the receivable from the vehicle manufacturer. The Company monitors its vehicle manufacturer receivables based on time outstanding, manufacturer strength and length of the relationship. Generally, the average holding term for Program Vehicles is approximately six to eight months.&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy for revenue earning vehicles and related vehicle depreciation expense.</ElementDefenition><ElementReferences>No definition available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Revenue-Earning Vehicles and Related Vehicle Depreciation Expense</Label></Row><Row FlagID="0"><Id>10</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

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We also estimate the residual value of the applicable revenue earning equipment at the expected time of disposal. The residual values for rental vehicles are affected by many factors, including make, model and options, age, physical condition, mileage, sale location, time of the year and channel of disposition (e.g.,&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;auction, retail, dealer direct). The residual value for rental equipment is affected by factors which include equipment age and amount of usage. Depreciation is recorded on a straight-line basis over the estimated holding period. Depreciation rates are reviewed on a quarterly basis based on management's ongoing assessment of present and estimated future market conditions, their effect on residual values at the time of disposal and the estimated holding periods. Market conditions for used vehicle and equipment sales can also be affected by external factors such as the economy, natural disasters, fuel prices and incentives offered by manufacturers of new cars. These key factors are considered when estimating future residual values and assessing depreciation rates. As a result of this ongoing assessment, we make periodic adjustments to depreciation rates of revenue earning equipment in response to changed market conditions. Upon disposal of revenue earning equipment, depreciation expense is adjusted for the difference between the net proceeds received and the remaining net book value.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;Within Donlen, revenue earning equipment is under longer term lease agreements with our customers. These leases contain provisions whereby we have a contracted residual value guaranteed to us by the lessee, such that we do not experience any gains or losses on the disposal of these vehicles. Therefore depreciation rates on these vehicles are not adjusted at any point in time per the associated lease contract.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;"&gt;Property and Equipment &lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;Property and equipment are stated at cost and are depreciated utilizing the straight-line method over the estimated useful lives of the related assets. Leasehold improvements are amortized over the estimated useful lives of the related assets or leases, whichever is shorter. Useful lives are as follows:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="2" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="49%" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td width="51%" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;Buildings&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;3 to 50&amp;#160;years&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;Furniture and fixtures&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;1 to 15&amp;#160;years&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;Capitalized internal use software&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;1 to 15&amp;#160;years&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;Service cars and service equipment&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;1 to 13&amp;#160;years&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;Other intangible assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;3 to 20&amp;#160;years&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td 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&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Long-Lived Assets&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;font size="2"&gt;&amp;#8212;The Company reviews the value of long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable based upon estimated future cash flows and records an impairment charge, equaling the excess of the carrying value over the estimated fair value, if the carrying value exceeds estimated future cash flows.&lt;/font&gt;
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&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Accounts Payable&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;font size="2"&gt;&amp;#8212;Book overdrafts of $19.0&amp;#160;million and $17.0&amp;#160;million, which represent outstanding checks not yet presented to the bank, are included in accounts payable to reflect the Company's outstanding obligations at December&amp;#160;31, 2011 and 2010, respectively. These amounts do not represent bank overdrafts, which would constitute checks presented in excess of cash on hand, and would be effectively a loan to the Company.&lt;/font&gt;
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&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Vehicle Insurance Reserves&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;font size="2"&gt;&amp;#8212;Provisions for public liability and property damage and supplemental liability insurance ("SLI") on self-insured claims are made by charges to direct vehicle and operating expense. Accruals for such charges are based upon actuarially determined evaluations of estimated ultimate liabilities on reported and unreported claims, prepared on a semi-annual basis. Historical data related to the amount and timing of payments for self-insured claims is utilized in preparing the actuarial evaluations. The accrual for public liability and property damage claims is discounted based upon the actuarially determined estimated timing of payments to be made in the future. The Company records expense related to public liability and property damage and SLI on a monthly basis based on rental volume and projections of ultimate losses, expenses, premiums and administrative costs that are derived from historical accident claim experience and trends. Management reviews the actual timing of payments as compared with the semi-annual actuarial estimate of timing of payments and has determined that there has been no material differences in the timing of payments for each of the three years in the period ended December&amp;#160;31, 2011. Because of less predictability in the estimated timing of payments, self-insured reserves for SLI are not discounted.&lt;/font&gt;
&lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy for vehicle insurance reserves.</ElementDefenition><ElementReferences>No definition available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Vehicle Insurance Reserves</Label></Row><Row FlagID="0"><Id>17</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

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&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Foreign Currency Translation&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;font size="2"&gt;&amp;#8212;Foreign assets and liabilities are translated using the exchange rate in effect at the balance sheet date, and results of operations are translated using an average rate for the period. Translation adjustments are accumulated and reported as a component of accumulated other comprehensive loss.&lt;/font&gt;
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 -Publisher FASB

 -Name Accounting Standards Codification

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 -Publisher FASB

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 -Publisher FASB

 -Name Statement of Financial Accounting Standard (FAS)

 -Number 52

 -Paragraph 5, 7-20, 80

 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Revenue Recognition&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;font size="2"&gt;&amp;#8212;Revenues from vehicle rentals are recognized as earned on a daily basis under the related rental contracts with customers. Revenues from leasing vehicles to franchisees are principally under operating leases with fixed monthly payments and are recognized ratably as earned over the lease terms. Revenues from fees and services include providing sales and marketing, reservations, information systems and other services to franchisees. Revenues from these services are generally based on a percentage of franchisee rental revenue or upon providing reservations and are recognized as earned on a monthly basis. Initial franchise fees are recognized upon substantial completion of all material services and conditions of the franchise sale, which coincides with the date of sale and commencement of operations by the franchisee.&lt;/font&gt;
&lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

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 -Publisher SEC

 -Name Staff Accounting Bulletin (SAB)

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 -Publisher FASB

 -Name Accounting Standards Codification

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 -Publisher AICPA

 -Name Accounting Principles Board Opinion (APB)

 -Number 22

 -Paragraph 8, 12, 13

 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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</LabelSeparator><Level>4</Level><ElementName>us-gaap_AdvertisingCostPolicyExpensedAdvertisingCost</ElementName><ElementPrefix>us-gaap_</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboseLabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="D2012Q4YTD" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;"&gt;Advertising&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;Advertising and sales promotion costs are expensed the first time the advertising or sales promotion takes place.  Advertising costs are reflected as a component of &amp;#8220;Selling, general and administrative&amp;#8221; in our consolidated statements of operations and for the years ended December&amp;#160;31, 2012, 2011 and 2010 were &lt;/font&gt;&lt;font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;"&gt;$158.0 million&lt;/font&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;"&gt;$145.8 million&lt;/font&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;"&gt;$133.8 million&lt;/font&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell><Cell FlagID="0" ContextID="D2011_DollarThriftyAutomotiveGroupIncMember" UnitID=""><Id>2</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;div style="font-size:10.0pt;font-family:Times New Roman;"&gt;
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&lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy for advertising costs that are expensed, indicating whether such costs are expensed as incurred or the first period in which the advertising takes place.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

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 -Publisher AICPA

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 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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</LabelSeparator><Level>4</Level><ElementName>us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock</ElementName><ElementPrefix>us-gaap_</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboseLabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="D2012Q4YTD" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:8px;padding-top:10px;text-align:justify;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;"&gt;Recently Issued Accounting Pronouncements&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;In December 2011, the FASB issued Accounting Standards Update, or "ASU," No. 2011-11, "Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities," or "ASU 2011-11" to amend the requirement for an entity to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented. ASU 2011-11 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. We plan to adopt ASU 2011-11 on January 1, 2013, as required, but do not believe this guidance will have a significant impact on our consolidated financial statements or financial statement disclosures.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;In July 2012, the FASB issued ASU No. 2012-02, "Intangibles&amp;#8212;Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment," or "ASU 2012-02" which states that an entity has the option first to assess qualitative factors to determine whether the existence of events and circumstances indicates that it is more likely than not that an indefinite-lived intangible asset is impaired. If, after assessing the totality of events and circumstances, an entity concludes that it is not more likely than not that the indefinite-lived intangible asset is impaired, then the entity is not required to take further action. However, if an entity concludes otherwise, then it is required to determine the fair value of the indefinite-lived intangible asset and perform the quantitative impairment test by comparing the fair value with the carrying amount. This provision is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. This accounting guidance is not expected to have a material impact on our consolidated financial statements or financial statement disclosures.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;In February 2013, &lt;/font&gt;&lt;font style="font-family:Arial;font-size:10pt;color:#212100;"&gt;the FASB issued ASU No. 2013-02, "Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income," &lt;/font&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;or "ASU 2013-02" which requires disclosure of significant amounts reclassified out of accumulated other comprehensive income by component and their corresponding effect on the respective line items of net income. This guidance is effective for &lt;/font&gt;&lt;font style="font-family:Arial;font-size:10pt;color:#212100;"&gt;reporting periods beginning after December 15, 2012 and is n&lt;/font&gt;&lt;font style="font-family:Arial;font-size:10pt;"&gt;ot expected to have a material impact on our consolidated financial statements or financial statement disclosures.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell><Cell FlagID="0" ContextID="D2011_DollarThriftyAutomotiveGroupIncMember" UnitID=""><Id>2</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;div style="font-size:10.0pt;font-family:Times New Roman;"&gt;
&lt;p style="FONT-FAMILY: times;"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;New Accounting Standards&amp;#8212;&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: times;"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;In January 2010, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") ASU 2010-06, "Fair Value Measurements and Disclosures (ASC Topic 820): Improving Disclosures about Fair Value Measurements" which amends Accounting Standards Codification ("ASC") Subtopic 820, "Fair Value Measurements and Disclosures" ("ASU 2010-06") to add new requirements for disclosures about transfers into and out of Levels&amp;#160;1 and 2 and separate disclosures about purchases, sales, issuances, and settlements relating to Level&amp;#160;3 measurements. ASU 2010-06 also clarifies existing fair value disclosures about the level of disaggregation and about inputs and valuation techniques used to measure fair value. The Company adopted the provisions of ASU 2010-06 regarding disclosures about transfers into and out of Levels&amp;#160;1 and 2 as required on January&amp;#160;1, 2010 and adopted the remaining provisions of ASU 2010-06 regarding separate disclosures about purchases, sales, issuances, and settlements relating to Level&amp;#160;3 measurements as required on January&amp;#160;1, 2011. The adoption of this latest provision had no impact on the Company's financial statements as the Company has no Level&amp;#160;3 measurements.&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: times;"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;In May 2011, the FASB issued ASU 2011-04, "Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S.&amp;#160;GAAP and IFRS" ("ASU 2011-04"), which amends U.S.&amp;#160;GAAP to converge U.S.&amp;#160;GAAP and International Financial Reporting Standards ("IFRS") by changing the wording used to describe many of the requirements in U.S.&amp;#160;GAAP for measuring fair value and for disclosing information about fair value measurements. ASU 2011-04 is effective for interim and annual periods beginning after December&amp;#160;15, 2011; early adoption is not permitted. The Company adopted ASU 2011-04 on January&amp;#160;1, 2012, as required, but does not believe this guidance will have a significant impact on the Company's consolidated financial statements.&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: times;"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;In June 2011, the FASB issued ASU 2011-05, "Comprehensive Income&amp;#8212;Presentation of Comprehensive Income" ("ASU 2011-05"). ASU 2011-05 eliminates the option to present the components of other comprehensive income as part of the statement of stockholders' equity. It requires an entity to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In December 2011, the FASB issued ASU&amp;#160;2011-12, "Comprehensive Income&amp;#8212;Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in ASU&amp;#160;2011-05," to defer the effective date of the specific requirement to present items that are reclassified out of accumulated other comprehensive income to net income alongside their respective components of net income and other comprehensive income. All other provisions of this update, which are to be applied retrospectively, are effective for fiscal years, and interim periods within those years, beginning after December&amp;#160;15, 2011. The Company adopted ASU 2011-05 and ASU 2011-12 on January&amp;#160;1, 2012, as required.&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: times;"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;In December 2011, the FASB issued ASU 2011-11, "Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities" ("ASU&amp;#160;2011-11") to amend the requirement for an entity to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented. ASU&amp;#160;2011-11 is effective for annual reporting periods beginning on or after January&amp;#160;1, 2013, and interim periods within those annual periods. The Company plans to adopt ASU&amp;#160;2011-11 on January&amp;#160;1, 2013, as required, but does not believe this guidance will have a significant impact on the Company's consolidated financial statements.&lt;/font&gt;&lt;/p&gt;
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