Guarantor and Non-Guarantor Consolidating Condensed Financial Statements (Tables)

3 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Consolidating Condensed Statements of Comprehensive Income

Consolidating Condensed Statements of Comprehensive Income

Three Months Ended September 30, 2013

			Parent			Subsidiary Issuers			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Total
Revenues
	Vehicle rental		$	—		$	—		$	1,100	$	634	$	—		$	1,734
	Other		—			—			308		740		(387		)	661
Net revenues			—			—			1,408		1,374		(387		)	2,395
Expenses
	Operating		2			5			672		463		—			1,142
	Vehicle depreciation and lease charges, net		—			—			338		382		(196		)	524
	Selling, general and administrative		9			1			155		109		—			274
	Vehicle interest, net		—			—			48		74		(50		)	72
	Non-vehicle related depreciation and amortization		—			—			25		14		—			39
	Interest expense related to corporate debt, net:
		Interest expense	1			49			—		7		—			57
		Intercompany interest expense (income)	(3		)	(7		)	1		9		—			—
	Transaction-related costs		—			8			—		2		—			10
	Restructuring expense		—			—			7		7		—			14
	Impairment		—			33			—		—		—			33
Total expenses			9			89			1,246		1,067		(246		)	2,165
Income (loss) before income taxes and equity in earnings of subsidiaries			(9		)	(89		)	162		307		(141		)	230
Provision for (benefit from) income taxes			(2		)	(21		)	93		42		—			112
Equity in earnings of subsidiaries			125			193			124		—		(442		)	—
Net income			$	118		$	125		$	193	$	265	$	(583	)	$	118
Comprehensive income			$	178		$	183		$	250	$	303	$	(736	)	$	178

			Parent			Subsidiary Issuers			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Total
Revenues
	Vehicle rental		$	—		$	—		$	1,007	$	575	$	—		$	1,582
	Other		—			—			294		616		(322		)	588
Net revenues			—			—			1,301		1,191		(322		)	2,170
Expenses
	Operating		—			—			612		424		—			1,036
	Vehicle depreciation and lease charges, net		—			—			267		312		(143		)	436
	Selling, general and administrative		5			—			153		86		—			244
	Vehicle interest, net		—			—			60		77		(60		)	77
	Non-vehicle related depreciation and amortization		—			—			18		12		—			30
	Interest expense related to corporate debt, net:
		Interest expense	2			62			—		3		—			67
		Intercompany interest expense (income)	(3		)	(75		)	64		14		—			—
		Early extinguishment of debt	—			2			—		—		—			2
	Transaction-related costs		(3		)	—			—		14		—			11
	Restructuring expenses		—			—			—		7		—			7
Total expenses			1			(11		)	1,174		949		(203		)	1,910
Income (loss) before income taxes and equity in earnings of subsidiaries			(1		)	11			127		242		(119		)	260
Provision for (benefit from) income taxes			—			(124		)	61		43		—			(20		)
Equity in earnings of subsidiaries			281			146			80		—		(507		)	—
Net income			$	280		$	281		$	146	$	199	$	(626	)	$	280
Comprehensive income			$	308		$	307		$	172	$	225	$	(704	)	$	308

			Parent			Subsidiary Issuers			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Total
Revenues
	Vehicle rental		$	—		$	—		$	2,909	$	1,479	$	—		$	4,388
	Other		—			—			842		1,910		(1,053		)	1,699
Net revenues			—			—			3,751		3,389		(1,053		)	6,087
Expenses
	Operating		6			8			1,843		1,223		—			3,080
	Vehicle depreciation and lease charges, net		—			—			924		949		(486		)	1,387
	Selling, general and administrative		25			4			450		292		—			771
	Vehicle interest, net		—			—			136		195		(136		)	195
	Non-vehicle related depreciation and amortization		—			1			71		37		—			109
	Interest expense related to corporate debt, net:
		Interest expense	3			147			—		20		—			170
		Intercompany interest expense (income)	(9		)	(23		)	5		27		—			—
		Early extinguishment of debt	41			90			—		—		—			131
	Transaction-related costs		1			21			1		14		—			37
	Restructuring expense		—			—			23		16		—			39
	Impairment		—			33			—		—		—			33
Total expenses			67			281			3,453		2,773		(622		)	5,952
Income (loss) before income taxes and equity in earnings of subsidiaries			(67		)	(281		)	298		616		(431		)	135
Provision for (benefit from) income taxes			(9		)	(96		)	141		55		—			91
Equity in earnings of subsidiaries			102			287			130		—		(519		)	—
Net income			$	44		$	102		$	287	$	561	$	(950	)	$	44
Comprehensive income			$	44		$	101		$	285	$	542	$	(928	)	$	44

			Parent			Subsidiary Issuers			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Total
Revenues
	Vehicle rental		$	—		$	—		$	2,684	$	1,400	$	—		$	4,084
	Other		1			—			806		1,593		(825		)	1,575
Net revenues			1			—			3,490		2,993		(825		)	5,659
Expenses
	Operating		—			3			1,739		1,140		—			2,882
	Vehicle depreciation and lease charges, net		—			—			650		736		(298		)	1,088
	Selling, general and administrative		16			—			433		247		—			696
	Vehicle interest, net		—			—			185		232		(186		)	231
	Non-vehicle related depreciation and amortization		—			1			56		35		—			92
	Interest expense related to corporate debt, net:
		Interest expense	7			192			—		9		—			208
		Intercompany interest expense (income)	(15		)	(231		)	205		41		—			—
		Early extinguishment of debt	39			13			—		—		—			52
	Transaction-related costs		—			—			1		20		—			21
	Restructuring expenses		—			—			1		25		—			26
Total expenses			47			(22		)	3,270		2,485		(484		)	5,296
Income (loss) before income taxes and equity in earnings of subsidiaries			(46		)	22			220		508		(341		)	363
Provision for (benefit from) income taxes			(4		)	(118		)	96		53		—			27
Equity in earnings of subsidiaries			378			238			114		—		(730		)	—
Net income			$	336		$	378		$	238	$	455	$	(1,071	)	$	336
Comprehensive income			$	361		$	403		$	262	$	483	$	(1,148	)	$	361

Schedule Of Condensed Consolidating Balance Sheet Table [Text Block]

Consolidating Condensed Balance Sheets

As of September 30, 2013

		Parent		Subsidiary Issuers			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Total
Assets
Current assets:
	Cash and cash equivalents	$	7	$	34		$	10	$	538		$	—		$	589
	Receivables, net	—		—			181		500			—			681
	Deferred income taxes	3		1			142		17			—			163
	Other current assets	4		84			86		401			—			575
Total current assets		14		119			419		1,456			—			2,008
Property and equipment, net		—		96			307		167			—			570
Deferred income taxes		19		1,200			139		—			(7		)	1,351
Goodwill		—		—			349		340			—			689
Other intangibles, net		—		42			522		364			—			928
Other non-current assets		106		101			19		149			—			375
Intercompany receivables (payables)		144		(442		)	522		(224		)	—			—
Investment in subsidiaries		716		2,871			3,427		—			(7,014		)	—
Total assets exclusive of assets under vehicle programs		999		3,987			5,704		2,252			(7,021		)	5,921
Assets under vehicle programs:
	Program cash	—		—			—		210			—			210
	Vehicles, net	—		23			10		10,772			—			10,805
	Receivables from vehicle manufacturers and other	—		2			—		504			—			506
	Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—			—		362			—			362
		—		25			10		11,848			—			11,883
Total assets		$	999	$	4,012		$	5,714	$	14,100		$	(7,021	)	$	17,804
Liabilities and stockholders’ equity
Current liabilities:
	Accounts payable and other current liabilities	$	22	$	253		$	595	$	810		$	—		$	1,680
	Short-term debt and current portion of long-term debt	—		167			3		11			—			181
Total current liabilities		22		420			598		821			—			1,861
Long-term debt		75		2,783			7		338			—			3,203
Other non-current liabilities		98		89			252		446			(7		)	878
Total liabilities exclusive of liabilities under vehicle programs		195		3,292			857		1,605			(7		)	5,942
Liabilities under vehicle programs:
	Debt	—		4			—		2,504			—			2,508
	Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—			—		6,128			—			6,128
Deferred income taxes		—		—			1,986		204			—			2,190
Other		—		—			—		232			—			232
		—		4			1,986		9,068			—			11,058
Total stockholders’ equity		804		716			2,871		3,427			(7,014		)	804
Total liabilities and stockholders’ equity		$	999	$	4,012		$	5,714	$	14,100		$	(7,021	)	$	17,804

Consolidating Condensed Balance Sheets

As of September 30, 2013

		Parent		Subsidiary Issuers			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Total
Assets
Current assets:
	Cash and cash equivalents	$	7	$	34		$	10	$	538		$	—		$	589
	Receivables, net	—		—			181		500			—			681
	Deferred income taxes	3		1			142		17			—			163
	Other current assets	4		84			86		401			—			575
Total current assets		14		119			419		1,456			—			2,008
Property and equipment, net		—		96			307		167			—			570
Deferred income taxes		19		1,200			139		—			(7		)	1,351
Goodwill		—		—			349		340			—			689
Other intangibles, net		—		42			522		364			—			928
Other non-current assets		106		101			19		149			—			375
Intercompany receivables (payables)		144		(442		)	522		(224		)	—			—
Investment in subsidiaries		716		2,871			3,427		—			(7,014		)	—
Total assets exclusive of assets under vehicle programs		999		3,987			5,704		2,252			(7,021		)	5,921
Assets under vehicle programs:
	Program cash	—		—			—		210			—			210
	Vehicles, net	—		23			10		10,772			—			10,805
	Receivables from vehicle manufacturers and other	—		2			—		504			—			506
	Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—			—		362			—			362
		—		25			10		11,848			—			11,883
Total assets		$	999	$	4,012		$	5,714	$	14,100		$	(7,021	)	$	17,804
Liabilities and stockholders’ equity
Current liabilities:
	Accounts payable and other current liabilities	$	22	$	253		$	595	$	810		$	—		$	1,680
	Short-term debt and current portion of long-term debt	—		167			3		11			—			181
Total current liabilities		22		420			598		821			—			1,861
Long-term debt		75		2,783			7		338			—			3,203
Other non-current liabilities		98		89			252		446			(7		)	878
Total liabilities exclusive of liabilities under vehicle programs		195		3,292			857		1,605			(7		)	5,942
Liabilities under vehicle programs:
	Debt	—		4			—		2,504			—			2,508
	Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—			—		6,128			—			6,128
Deferred income taxes		—		—			1,986		204			—			2,190
Other		—		—			—		232			—			232
		—		4			1,986		9,068			—			11,058
Total stockholders’ equity		804		716			2,871		3,427			(7,014		)	804
Total liabilities and stockholders’ equity		$	999	$	4,012		$	5,714	$	14,100		$	(7,021	)	$	17,804

		Parent		Subsidiary Issuers		Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Total
Assets
Current assets:
	Cash and cash equivalents	$	5	$	102	$	—	$	499		$	—		$	606
	Receivables, net	—		—		156		397			—			553
	Deferred income taxes	3		1		138		4			—			146
	Other current assets	5		73		81		246			—			405
Total current assets		13		176		375		1,146			—			1,710
Property and equipment, net		—		90		276		163			—			529
Deferred income taxes		23		1,216		223		—			(8		)	1,454
Goodwill		—		—		74		301			—			375
Other intangibles, net		—		43		341		347			—			731
Other non-current assets		109		80		14		117			—			320
Intercompany receivables (payables)		142		141		174		(457		)	—			—
Investment in subsidiaries		723		2,030		3,293		—			(6,046		)	—
Total assets exclusive of assets under vehicle programs		1,010		3,776		4,770		1,617			(6,054		)	5,119
Assets under vehicle programs:
	Program cash	—		—		—		24			—			24
	Vehicles, net	—		7		13		9,254			—			9,274
	Receivables from vehicle manufacturers and other	—		—		—		439			—			439
	Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		362			—			362
		—		7		13		10,079			—			10,099
Total assets		$	1,010	$	3,783	$	4,783	$	11,696		$	(6,054	)	$	15,218
Liabilities and stockholders’ equity
Current liabilities:
	Accounts payable and other current liabilities	$	22	$	250	$	490	$	659		$	—		$	1,421
	Short-term debt and current portion of long-term debt	—		13		3		41			—			57
Total current liabilities		22		263		493		700			—			1,478
Long-term debt		128		2,712		8		—			—			2,848
Other non-current liabilities		103		79		277		420			(8		)	871
Total liabilities exclusive of liabilities under vehicle programs		253		3,054		778		1,120			(8		)	5,197
Liabilities under vehicle programs:
	Debt	—		4		—		1,599			—			1,603
	Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		5,203			—			5,203
	Deferred income taxes	—		—		1,975		188			—			2,163
	Other	—		2		—		293			—			295
		—		6		1,975		7,283			—			9,264
Total stockholders’ equity		757		723		2,030		3,293			(6,046		)	757
Total liabilities and stockholders’ equity		$	1,010	$	3,783	$	4,783	$	11,696		$	(6,054	)	$	15,218

Consolidating Condensed Statements Of Cash Flows

	Parent			Subsidiary Issuers			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
Net cash provided by (used in) operating activities	$	(4	)	$	448		$	2		$	1,300		$	(3	)	$	1,743
Investing activities
Property and equipment additions	—			(17		)	(43		)	(32		)	—			(92		)
Proceeds received on asset sales	—			4			—			9			—			13
Net assets acquired, net of cash acquired	—			(563		)	8			24			—			(531		)
Other, net	—			(13		)	47			3			—			37
Net cash provided by (used in) investing activities exclusive of vehicle programs	—			(589		)	12			4			—			(573		)
Vehicle programs:
Increase in program cash	—			—			—			(173		)	—			(173		)
Investment in vehicles	—			(40		)	(2		)	(8,823		)	—			(8,865		)
Proceeds received on disposition of vehicles	—			22			—			6,371			—			6,393
	—			(18		)	(2		)	(2,625		)	—			(2,645		)
Net cash provided by (used in) investing activities	—			(607		)	10			(2,621		)	—			(3,218		)
Financing activities
Proceeds from long-term borrowings	—			2,400			—			325			—			2,725
Payments on long-term borrowings	(94		)	(2,248		)	(2		)	—			—			(2,344		)
Net change in short-term borrowings	—			—			—			(32		)	—			(32		)
Purchase of warrants	(30		)	—			—			—			—			(30		)
Proceeds from sale of call options	41			—			—			—			—			41
Repurchases of common stock	(21		)	—			—			—			—			(21		)
Net intercompany transactions	108			(32		)	—			(79		)	3			—
Debt financing fees	—			(29		)	—			(7		)	—			(36		)
Other, net	2			—			—			—			—			2
Net cash provided by (used in) financing activities exclusive of vehicle programs	6			91			(2		)	207			3			305
Vehicle programs:
Proceeds from borrowings	—			—			—			10,266			—			10,266
Payments on borrowings	—			—			—			(9,079		)	—			(9,079		)
Debt financing fees	—			—			—			(26		)	—			(26		)
	—			—			—			1,161			—			1,161
Net cash provided by (used in) financing activities	6			91			(2		)	1,368			3			1,466
Effect of changes in exchange rates on cash and cash equivalents	—			—			—			(8		)	—			(8		)
Net increase (decrease) in cash and cash equivalents	2			(68		)	10			39			—			(17		)
Cash and cash equivalents, beginning of period	5			102			—			499			—			606
Cash and cash equivalents, end of period	$	7		$	34		$	10		$	538		$	—		$	589

	Parent			Subsidiary Issuers			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Total
Net cash provided by (used in) operating activities	$	(48	)	$	128		$	42		$	1,402		$	—	$	1,524
Investing activities
Property and equipment additions	—			(19		)	(26		)	(37		)	—		(82		)
Proceeds received on asset sales	—			5			3			8			—		16
Net assets acquired, net of cash acquired	—			—			—			(5		)	—		(5		)
Other, net	4			(3		)	(1		)	(25		)	—		(25		)
Net cash provided by (used in) investing activities exclusive of vehicle programs	4			(17		)	(24		)	(59		)	—		(96		)
Vehicle programs:
Increase in program cash	—			—			—			(90		)	—		(90		)
Investment in vehicles	—			(2		)	(19		)	(8,941		)	—		(8,962		)
Proceeds received on disposition of vehicles	—			4			2			6,130			—		6,136
	—			2			(17		)	(2,901		)	—		(2,916		)
Net cash provided by (used in) investing activities	4			(15		)	(41		)	(2,960		)	—		(3,012		)
Financing activities
Proceeds from long-term borrowings	—			654			—			—			—		654
Payments on long-term borrowings	(201		)	(704		)	(2		)	—			—		(907		)
Net change in short-term borrowings	—			—			—			1			—		1
Purchase of warrants	(26		)	—			—			—			—		(26		)
Proceeds from sale of call options	38			—			—			—			—		38
Net intercompany transactions	234			(234		)	—			—			—		—
Debt financing fees	—			(11		)	—			—			—		(11		)
Other, net	1			—			—			—			—		1
Net cash provided by (used in) financing activities exclusive of vehicle programs	46			(295		)	(2		)	1			—		(250		)
Vehicle programs:
Proceeds from borrowings	—			—			—			9,238			—		9,238
Payments on borrowings	—			—			—			(7,467		)	—		(7,467		)
Debt financing fees	—			—			—			(18		)	—		(18		)
	—			—			—			1,753			—		1,753
Net cash provided by (used in) financing activities	46			(295		)	(2		)	1,754			—		1,503
Effect of changes in exchange rates on cash and cash equivalents	—			—			—			5			—		5
Net increase (decrease) in cash and cash equivalents	2			(182		)	(1		)	201			—		20
Cash and cash equivalents, beginning of period	2			234			1			297			—		534
Cash and cash equivalents, end of period	$	4		$	52		$	—		$	498		$	—	$	554