XML 57 R3.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED CONDENSED BALANCE SHEETS (USD $)
In Millions, unless otherwise specified
Mar. 31, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 841 $ 693
Receivables, net 646 619
Deferred income taxes 174 177
Other current assets 501 455
Total current assets 2,162 1,944
Property and equipment, net 613 614
Deferred income taxes 1,264 1,299
Goodwill 713 691
Other intangibles, net 932 923
Other non-current assets 362 361
Total assets exclusive of assets under vehicle programs 6,046 5,832
Assets under vehicle programs:    
Program cash 104 116
Vehicles, net 10,617 9,582
Receivables from vehicle manufacturers and other 240 391
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party 362 363
Total assets under vehicle programs: 11,323 10,452
Total assets 17,369 16,284
Current liabilities:    
Accounts payable and other current liabilities 1,474 1,479
Short-term debt and current portion of long-term debt 393 89
Total current liabilities 1,867 1,568
Long-term debt 3,303 3,305
Other non-current liabilities 840 847
Total liabilities exclusive of liabilities under vehicle programs 6,010 5,720
Liabilities under vehicle programs:    
Debt 1,640 1,681
Debt due to Avis Budget Rental Car Funding (AESOP) LLC—related party 6,359 5,656
Deferred income taxes 2,141 2,177
Other 516 279
Total Liabilities under vehicle programs 10,656 9,793
Commitments and contingencies (Note 10)      
Stockholders’ equity:    
Preferred stock, $0.01 par value—authorized 10 million shares; none issued and outstanding 0 0
Common stock, $0.01 par value—authorized 250 million shares; issued 137,081,117 and 137,081,056 shares 1 1
Additional paid-in capital 7,729 7,893
Accumulated deficit (2,356) (2,360)
Accumulated other comprehensive income 120 117
Treasury stock, at cost—31,457,613 and 30,515,721 shares (4,791) (4,880)
Total stockholders’ equity 703 771
Total liabilities and stockholders’ equity $ 17,369 $ 16,284