XML 45 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $)
In Millions, except Per Share data, unless otherwise specified
1 Months Ended 3 Months Ended
Apr. 30, 2014
Mar. 31, 2014
Mar. 31, 2013
Income Statement [Abstract]      
Vehicle Depreciation And Lease Charges Net   $ 433 $ 386
Revenues      
Vehicle rental   1,329 1,217
Other   533 474
Net revenues   1,862 1,691
Expenses      
Operating   1,000 931
Vehicle depreciation and lease charges, net   433 386
Selling, general and administrative   248 224
Vehicle interest, net   64 57
Non-vehicle related depreciation and amortization   41 34
Interest expense related to corporate debt, net:      
Interest expense   56 58
Early extinguishment of debt 26 0 40
Transaction-related costs   8 8
Restructuring expense   7 [1] 10 [2]
Total expenses   1,857 1,748
Income (loss) before income taxes   5 (57)
Provision for (benefit from) income taxes   1 (11)
Net income (loss)   4 (46)
Comprehensive income (loss)   $ 7 $ (69)
Earnings (loss) per share      
Basic (US$ per share)   $ 0.03 $ (0.43)
Diluted (US$ per share)   $ 0.03 $ (0.43)
[1] (d) During the three months ended March 31, 2014, transaction-related costs primarily comprised of a non-cash charge for re-acquired license rights and acquisition integration expenses. During the three months ended March 31, 2013, transaction-related costs primarily related to the integration of Avis Europe and the acquisition of Zipcar.
[2] (c) Includes unallocated corporate overhead which is not attributable to a particular segment.