XML 131 R111.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidating Condensed Balance Sheets (Detail) - USD ($)
$ in Millions
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Current assets:        
Cash and cash equivalents $ 490 $ 452 $ 624 $ 693
Receivables, net 808 668    
Other current assets 519 507    
Total current assets 1,817 1,627    
Property and equipment, net 685 681    
Deferred income taxes 1,493 1,488    
Goodwill 1,007 973 842  
Other intangibles, net 870 917    
Other non-current assets 193 232    
Intercompany receivables (payables) 0 0    
Investment in subsidiaries 0 0    
Total assets exclusive of assets under vehicle programs 6,065 5,918    
Assets under vehicle programs:        
Program cash 225 258    
Vehicles, net 10,464 10,658    
Receivables from vehicle manufacturers and other 527 438    
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party 362 362    
Assets under vehicle programs 11,578 11,716 11,058  
Total assets 17,643 17,634    
Current liabilities:        
Short-term debt and current portion of long-term debt 279 26    
Accounts payable and other current liabilities 1,488 1,485    
Total current liabilities 1,767 1,511    
Long-term debt 3,244 3,435    
Due to Related Parties, Noncurrent 0 0    
Deferred Income Taxes 2,429 2,367    
Other non-current liabilities 764 734    
Total liabilities exclusive of liabilities under vehicle programs 5,775 5,680    
Liabilities under vehicle programs:        
Debt 2,183 2,064    
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party 6,695 6,796    
Other 340 288    
Total Liabilities under vehicle programs 11,647 11,515    
Total stockholders’ equity 221 439 665 771
Total liabilities and stockholders’ equity 17,643 17,634    
Parent Company        
Current assets:        
Cash and cash equivalents 3 4 2 14
Receivables, net 0 0    
Other current assets 2 2    
Total current assets 5 6    
Property and equipment, net 0 0    
Deferred income taxes 20 20    
Goodwill 0 0    
Other intangibles, net 0 0    
Other non-current assets 75 93    
Intercompany receivables (payables) 171 160    
Investment in subsidiaries 42 272    
Total assets exclusive of assets under vehicle programs 313 551    
Assets under vehicle programs:        
Program cash 0 0    
Vehicles, net 0 0    
Receivables from vehicle manufacturers and other 0 0    
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party 0 0    
Assets under vehicle programs 0 0    
Total assets 313 551    
Current liabilities:        
Short-term debt and current portion of long-term debt 0 0    
Accounts payable and other current liabilities 23 24    
Total current liabilities 23 24    
Long-term debt 0 0    
Due to Related Parties, Noncurrent 0 0    
Deferred Income Taxes 0 0    
Other non-current liabilities 69 88    
Total liabilities exclusive of liabilities under vehicle programs 92 112    
Liabilities under vehicle programs:        
Debt 0 0    
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party 0 0    
Other 0 0    
Total Liabilities under vehicle programs 0 0    
Total stockholders’ equity 221 439    
Total liabilities and stockholders’ equity 313 551    
Subsidiary Issuers        
Current assets:        
Cash and cash equivalents 12 70 210 242
Receivables, net 0 0    
Other current assets 101 78    
Total current assets 113 148    
Property and equipment, net 148 134    
Deferred income taxes 1,219 1,246    
Goodwill 0 0    
Other intangibles, net 28 30    
Other non-current assets 24 15    
Intercompany receivables (payables) 359 367    
Investment in subsidiaries 3,717 3,426    
Total assets exclusive of assets under vehicle programs 5,608 5,366    
Assets under vehicle programs:        
Program cash 0 0    
Vehicles, net 24 18    
Receivables from vehicle manufacturers and other 1 0    
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party 0 0    
Assets under vehicle programs 25 18    
Total assets 5,633 5,384    
Current liabilities:        
Short-term debt and current portion of long-term debt 264 14    
Accounts payable and other current liabilities 189 180    
Total current liabilities 453 194    
Long-term debt 2,730 2,932    
Due to Related Parties, Noncurrent 2,306 1,897    
Deferred Income Taxes 0 0    
Other non-current liabilities 88 85    
Total liabilities exclusive of liabilities under vehicle programs 5,577 5,108    
Liabilities under vehicle programs:        
Debt 14 4    
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party 0 0    
Other 0 0    
Total Liabilities under vehicle programs 14 4    
Total stockholders’ equity 42 272    
Total liabilities and stockholders’ equity 5,633 5,384    
Guarantor Subsidiaries        
Current assets:        
Cash and cash equivalents 0 0 0 12
Receivables, net 231 212    
Other current assets 90 83    
Total current assets 321 295    
Property and equipment, net 341 345    
Deferred income taxes 268 253    
Goodwill 489 487    
Other intangibles, net 502 525    
Other non-current assets 16 17    
Intercompany receivables (payables) 1,466 1,070    
Investment in subsidiaries 3,698 3,680    
Total assets exclusive of assets under vehicle programs 7,101 6,672    
Assets under vehicle programs:        
Program cash 0 0    
Vehicles, net 70 78    
Receivables from vehicle manufacturers and other 0 0    
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party 0 0    
Assets under vehicle programs 70 78    
Total assets 7,171 6,750    
Current liabilities:        
Short-term debt and current portion of long-term debt 3 5    
Accounts payable and other current liabilities 512 471    
Total current liabilities 515 476    
Long-term debt 3 2    
Due to Related Parties, Noncurrent 359 336    
Deferred Income Taxes 2,258 2,199    
Other non-current liabilities 253 237    
Total liabilities exclusive of liabilities under vehicle programs 1,130 1,051    
Liabilities under vehicle programs:        
Debt 66 74    
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party 0 0    
Other 0 0    
Total Liabilities under vehicle programs 2,324 2,273    
Total stockholders’ equity 3,717 3,426    
Total liabilities and stockholders’ equity 7,171 6,750    
Non-Guarantor Subsidiaries        
Current assets:        
Cash and cash equivalents 475 378 412 425
Receivables, net 577 456    
Other current assets 326 344    
Total current assets 1,378 1,178    
Property and equipment, net 196 202    
Deferred income taxes 0 0    
Goodwill 518 486    
Other intangibles, net 340 362    
Other non-current assets 78 107    
Intercompany receivables (payables) 670 696    
Investment in subsidiaries 0 0    
Total assets exclusive of assets under vehicle programs 3,180 3,031    
Assets under vehicle programs:        
Program cash 225 258    
Vehicles, net 10,370 10,562    
Receivables from vehicle manufacturers and other 526 438    
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party 362 362    
Assets under vehicle programs 11,483 11,620    
Total assets 14,663 14,651    
Current liabilities:        
Short-term debt and current portion of long-term debt 12 7    
Accounts payable and other current liabilities 764 810    
Total current liabilities 776 817    
Long-term debt 511 501    
Due to Related Parties, Noncurrent 1 60    
Deferred Income Taxes 171 168    
Other non-current liabilities 368 355    
Total liabilities exclusive of liabilities under vehicle programs 1,656 1,733    
Liabilities under vehicle programs:        
Debt 2,103 1,986    
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party 6,695 6,796    
Other 340 288    
Total Liabilities under vehicle programs 9,309 9,238    
Total stockholders’ equity 3,698 3,680    
Total liabilities and stockholders’ equity 14,663 14,651    
Eliminations        
Current assets:        
Cash and cash equivalents 0 0 $ 0 $ 0
Receivables, net 0 0    
Other current assets 0 0    
Total current assets 0 0    
Property and equipment, net 0 0    
Deferred income taxes (14) (31)    
Goodwill 0 0    
Other intangibles, net 0 0    
Other non-current assets 0 0    
Intercompany receivables (payables) (2,666) (2,293)    
Investment in subsidiaries (7,457) (7,378)    
Total assets exclusive of assets under vehicle programs (10,137) (9,702)    
Assets under vehicle programs:        
Program cash 0 0    
Vehicles, net 0 0    
Receivables from vehicle manufacturers and other 0 0    
Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party 0 0    
Assets under vehicle programs 0 0    
Total assets (10,137) (9,702)    
Current liabilities:        
Short-term debt and current portion of long-term debt 0 0    
Accounts payable and other current liabilities 0 0    
Total current liabilities 0 0    
Long-term debt 0 0    
Due to Related Parties, Noncurrent (2,666) (2,293)    
Deferred Income Taxes 0 0    
Other non-current liabilities (14) (31)    
Total liabilities exclusive of liabilities under vehicle programs (2,680) (2,324)    
Liabilities under vehicle programs:        
Debt 0 0    
Due to Avis Budget Rental Car Funding (AESOP) LLC-related party 0 0    
Other 0 0    
Total Liabilities under vehicle programs 0 0    
Total stockholders’ equity (7,457) (7,378)    
Total liabilities and stockholders’ equity $ (10,137) $ (9,702)