XML 137 R74.htm IDEA: XBRL DOCUMENT v2.4.0.8
Guarantor And Non-Guarantor Consolidating Condensed Financial Statements (Consolidating Condensed Statements Of Comprehensive Income) (Detail) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenues        
Vehicle rental $ 1,438 $ 1,334 $ 2,654 $ 2,502
Other 564 532 1,039 987
Net revenues 2,002 1,866 3,693 3,489
Expenses        
Operating 1,007 953 1,937 1,847
Vehicle depreciation and lease charges, net 476 334 863 652
Selling, general and administrative 274 233 498 452
Vehicle interest, net 66 80 123 153
Non-vehicle related depreciation and amortization 37 29 71 62
Interest expense 55 69 114 142
Intercompany Interest Expense Income 0 0 0 0
Early extinguishment of debt 91 23 131 50
Restructuring expense 15 12 25 19
Transaction-related costs 19 [1] 4 [1] 26 [2] 10 [2]
Total expenses 2,040 1,737 3,788 3,387
Interest expense related to corporate debt, net:        
Loss before income taxes (38) 129 (95) 102
Provision for (benefit from) income taxes 10 (50) 21 (46)
Equity in earnings (loss) of subsidiaries 0 0 0 0
Net loss (28) 79 (74) 56
Comprehensive income (loss) (65) 32 (134) 53
Parent Company [Member]
       
Revenues        
Vehicle rental 0 0 0 0
Other 0 0 0 1
Net revenues 0 0 0 1
Expenses        
Operating 2 1 3 0
Vehicle depreciation and lease charges, net 0 0 0 0
Selling, general and administrative 8 5 17 10
Vehicle interest, net 0 0 0 0
Non-vehicle related depreciation and amortization 0 0 0 0
Interest expense 1 2 2 5
Intercompany Interest Expense Income (3) (5) (6) (12)
Early extinguishment of debt 2 20 41 39
Restructuring expense 0 0 0 0
Transaction-related costs 1 0 1 3
Total expenses 11 23 58 45
Interest expense related to corporate debt, net:        
Loss before income taxes (11) (23) (58) (44)
Provision for (benefit from) income taxes 3 2 7 4
Equity in earnings (loss) of subsidiaries (20) 100 (23) 96
Net loss (28) 79 (74) 56
Subsidiary Issuers [Member]
       
Revenues        
Vehicle rental 0 0 0 0
Other 0 0 0 0
Net revenues 0 0 0 0
Expenses        
Operating 2 (4) 3 3
Vehicle depreciation and lease charges, net 0 0 0 0
Selling, general and administrative 1 0 2 0
Vehicle interest, net 0 0 0 0
Non-vehicle related depreciation and amortization 0 0 1 1
Interest expense 52 64 106 128
Intercompany Interest Expense Income (6) (74) (17) (155)
Early extinguishment of debt 89 3 90 11
Restructuring expense 0 0 0 0
Transaction-related costs 9 0 13 0
Total expenses 147 (11) 198 (12)
Interest expense related to corporate debt, net:        
Loss before income taxes (147) 11 (198) 12
Provision for (benefit from) income taxes 55 (3) 75 (6)
Equity in earnings (loss) of subsidiaries 72 92 100 90
Net loss (20) 100 (23) 96
Comprehensive income (loss) (56) 55 (82) 95
Guarantor Subsidiaries [Member]
       
Revenues        
Vehicle rental 972 890 1,809 1,677
Other 288 278 535 512
Net revenues 1,260 1,168 2,344 2,189
Expenses        
Operating 613 591 1,171 1,128
Vehicle depreciation and lease charges, net 327 185 587 383
Selling, general and administrative 165 145 296 282
Vehicle interest, net 46 64 88 125
Non-vehicle related depreciation and amortization 25 18 45 37
Interest expense 0 0 0 0
Intercompany Interest Expense Income 1 66 4 140
Early extinguishment of debt 0 0 0 0
Restructuring expense 9 0 16 0
Transaction-related costs 1 0 1 0
Total expenses 1,187 1,069 2,208 2,095
Interest expense related to corporate debt, net:        
Loss before income taxes 73 99 136 94
Provision for (benefit from) income taxes (34) (36) (48) (34)
Equity in earnings (loss) of subsidiaries 33 29 12 30
Net loss 72 92 100 90
Comprehensive income (loss) 39 46 41 88
Non-Guarantor Subsidiaries [Member]
       
Revenues        
Vehicle rental 466 444 845 825
Other 643 501 1,170 976
Net revenues 1,109 945 2,015 1,801
Expenses        
Operating 390 365 760 716
Vehicle depreciation and lease charges, net 323 211 566 423
Selling, general and administrative 100 83 183 160
Vehicle interest, net 63 80 121 154
Non-vehicle related depreciation and amortization 12 11 25 24
Interest expense 2 3 6 9
Intercompany Interest Expense Income 8 13 19 27
Early extinguishment of debt 0 0 0 0
Restructuring expense 6 12 9 19
Transaction-related costs 8 4 11 7
Total expenses 912 782 1,700 1,539
Interest expense related to corporate debt, net:        
Loss before income taxes 197 163 315 262
Provision for (benefit from) income taxes (14) (13) (13) (10)
Equity in earnings (loss) of subsidiaries 0 0 0 0
Net loss 183 150 302 252
Comprehensive income (loss) 151 107 245 254
Eliminations [Member]
       
Revenues        
Vehicle rental 0 0 0 0
Other (367) (247) (666) (502)
Net revenues (367) (247) (666) (502)
Expenses        
Operating 0 0 0 0
Vehicle depreciation and lease charges, net (174) (62) (290) (154)
Selling, general and administrative 0 0 0 0
Vehicle interest, net (43) (64) (86) (126)
Non-vehicle related depreciation and amortization 0 0 0 0
Interest expense 0 0 0 0
Intercompany Interest Expense Income 0 0 0 0
Early extinguishment of debt 0 0 0 0
Restructuring expense 0 0 0 0
Transaction-related costs 0 0 0 0
Total expenses (217) (126) (376) (280)
Interest expense related to corporate debt, net:        
Loss before income taxes (150) (121) (290) (222)
Provision for (benefit from) income taxes 0 0 0 0
Equity in earnings (loss) of subsidiaries (85) (221) (89) (216)
Net loss (235) (342) (379) (438)
Comprehensive income (loss) $ (134) $ (208) $ (204) $ (437)
[1] During the three months ended June 30, 2013, the Company incurred $19 million in transaction-related costs related to the integration of the operations of Avis Europe and costs related to the acquisition and integration of Zipcar. During the three months ended June 30, 2012, the Company incurred $4 million in transaction-related costs related to the integration of the operations of Avis Europe.
[2] During the six months ended June 30, 2013, the Company incurred $26 million in transaction-related costs related to the integration of the operations of Avis Europe and costs related to the acquisition and integration of Zipcar. During the six months ended June 30, 2012, the Company incurred $10 million in transaction-related costs related to the integration of the operations of Avis Europe.