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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Operating activities    
Net income $ 336 $ 141
Adjustments to reconcile net income to net cash provided by operating activities:    
Vehicle depreciation 1,100 1,034
Gain on sale of vehicles, net (107) (224)
Non-vehicle related depreciation and amortization 92 65
Amortization of debt financing fees 43 67
Net change in assets and liabilities, excluding the impact of acquisitions and dispositions:    
Receivables (146) (36)
Income taxes and deferred income taxes (12) 58
Accounts payable and other current liabilities 28 83
Other, net 190 84
Net cash provided by operating activities 1,524 1,272
Investing activities    
Property and equipment additions (82) (30)
Proceeds received on asset sales 16 9
Acquisition-related restricted cash   (401)
Other, net (30) (11)
Net cash provided by (used in) investing activities exclusive of vehicle programs (96) (433)
Vehicle programs:    
Increase in program cash (90) (19)
Investment in vehicles (8,962) (6,701)
Proceeds received on disposition of vehicles 6,136 4,379
Investment in debt securities of Avis Budget Rental Car Funding (AESOP) LLC-related party   (400)
Proceeds from debt securities of Avis Budget Rental Car Funding (AESOP) LLC-related party   400
Net cash used in investing activities of vehicle programs (2,916) (2,341)
Net cash used in investing activities (3,012) (2,774)
Financing activities    
Proceeds from long-term borrowings 654  
Principal payments on long-term borrowings (907) (6)
Net change in short-term borrowings 1  
Purchases of warrants (26)  
Proceeds from sale of call options 38  
Debt financing fees (11) (33)
Other, net 1 1
Net cash provided by (used in) financing activities exclusive of vehicle programs (250) (38)
Vehicle programs:    
Proceeds from borrowings 9,238 8,235
Principal payments on borrowings (7,467) (6,568)
Debt financing fees (18) (20)
Net cash provided by financing activities of vehicle programs 1,753 1,647
Net cash provided by financing activities 1,503 1,609
Effect of changes in exchange rates on cash and cash equivalents 5 (16)
Net increase in cash and cash equivalents 20 91
Cash and cash equivalents, beginning of period 534 911
Cash and cash equivalents, end of period $ 554 $ 1,002