$CAR
AVIS BUDGET GROUP, INC.

2011 Q4 Form 10-K Financial Statement

#000119312513068169 Filed on February 21, 2013

View on sec.gov

Income Statement

Concept 2011 Q4 2011 Q3 2011 Q2
Revenue $1.630B $1.623B $1.412B
YoY Change 32.95% 7.34% 9.12%
Cost Of Revenue $858.0M $783.0M $725.0M
YoY Change 30.0% 11.06% 13.46%
Gross Profit $772.0M $840.0M $687.0M
YoY Change 36.4% 4.09% 4.89%
Gross Profit Margin 47.36% 51.76% 48.65%
Selling, General & Admin $243.0M $190.0M $169.0M
YoY Change 74.82% 21.79% 16.55%
% of Gross Profit 31.48% 22.62% 24.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization -$1.004B $392.0M $379.0M
YoY Change 4.47% 3.43% 5.57%
% of Gross Profit -130.05% 46.67% 55.17%
Operating Expenses $666.0M $190.0M $169.0M
YoY Change 43.53% -64.88% -66.73%
Operating Profit $106.0M $650.0M $518.0M
YoY Change 3.92% 144.36% 252.38%
Interest Expense -$158.0M $48.00M $7.000M
YoY Change 29.51% -140.0% -105.98%
% of Operating Profit -149.06% 7.38% 1.35%
Other Income/Expense, Net
YoY Change
Pretax Income -$200.0M $136.0M $89.00M
YoY Change 471.43% -5.56% 206.9%
Income Tax -$30.00M $54.00M $37.00M
% Of Pretax Income 39.71% 41.57%
Net Earnings -$170.0M $82.00M $52.00M
YoY Change 608.33% -8.89% 100.0%
Net Earnings / Revenue -10.43% 5.05% 3.68%
Basic Earnings Per Share -$1.62 $0.78 $0.49
Diluted Earnings Per Share -$1.62 $0.65 $0.42
COMMON SHARES
Basic Shares Outstanding 105.5M shares 105.4M shares 105.4M shares
Diluted Shares Outstanding 105.5M shares 128.9M shares 129.0M shares

Balance Sheet

Concept 2011 Q4 2011 Q3 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $534.0M $1.002B $645.0M
YoY Change -41.38% 60.83% 40.83%
Cash & Equivalents $534.0M $1.002B $645.0M
Short-Term Investments
Other Short-Term Assets $380.0M $784.0M $844.0M
YoY Change -7.77% 139.02% -16.6%
Inventory
Prepaid Expenses $179.0M
Receivables $507.0M $370.0M $417.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.541B $2.156B $1.906B
YoY Change -5.92% 60.06% 7.44%
LONG-TERM ASSETS
Property, Plant & Equipment $493.0M $8.186B $8.590B
YoY Change 16.0% 9.34% 6.33%
Goodwill $353.0M
YoY Change 364.47%
Intangibles $713.0M
YoY Change
Long-Term Investments $343.0M $329.0M $316.0M
YoY Change 18.28% 21.85% 23.44%
Other Assets $304.0M $922.0M $990.0M
YoY Change -64.07% 10.95% 8.79%
Total Long-Term Assets $11.40B $10.16B $10.54B
YoY Change 31.17% 8.56% 6.16%
TOTAL ASSETS
Total Short-Term Assets $1.541B $2.156B $1.906B
Total Long-Term Assets $11.40B $10.16B $10.54B
Total Assets $12.94B $12.31B $12.44B
YoY Change 25.28% 15.05% 6.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $312.0M $218.0M $237.0M
YoY Change 49.28% 14.74% 21.54%
Accrued Expenses $450.0M $228.0M $209.0M
YoY Change 116.35% 39.88% -12.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $37.00M $6.000M $6.000M
YoY Change 362.5% -33.33% -25.0%
Total Short-Term Liabilities $1.470B $1.059B $1.012B
YoY Change 57.56% 13.02% -26.24%
LONG-TERM LIABILITIES
Long-Term Debt $3.168B $8.625B $8.779B
YoY Change -54.8% 16.62% 8.61%
Other Long-Term Liabilities $960.0M $614.0M $688.0M
YoY Change 49.53% -13.28% -8.14%
Total Long-Term Liabilities $4.128B $9.239B $9.467B
YoY Change -46.05% 14.01% 7.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.470B $1.059B $1.012B
Total Long-Term Liabilities $4.128B $9.239B $9.467B
Total Liabilities $5.598B $11.76B $11.91B
YoY Change -43.55% 13.86% 3.8%
SHAREHOLDERS EQUITY
Retained Earnings -$2.666B
YoY Change
Common Stock $1.000M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.533B
YoY Change
Treasury Stock Shares 31.55M shares
Shareholders Equity $412.0M $552.0M $532.0M
YoY Change
Total Liabilities & Shareholders Equity $12.94B $12.31B $12.44B
YoY Change 25.28% 15.05% 6.35%

Cashflow Statement

Concept 2011 Q4 2011 Q3 2011 Q2
OPERATING ACTIVITIES
Net Income -$170.0M $82.00M $52.00M
YoY Change 608.33% -8.89% 100.0%
Depreciation, Depletion And Amortization -$1.004B $392.0M $379.0M
YoY Change 4.47% 3.43% 5.57%
Cash From Operating Activities $306.0M $570.0M $425.0M
YoY Change 1.32% -15.93% 11.84%
INVESTING ACTIVITIES
Capital Expenditures -$1.993B -$1.472B -$2.930B
YoY Change 17.65% 20.95% -10.04%
Acquisitions
YoY Change
Other Investing Activities $2.394B $1.387B $1.101B
YoY Change 13.62% -2.87% -27.8%
Cash From Investing Activities $401.0M -$85.00M -$1.829B
YoY Change -2.91% -140.28% 5.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.185B -107.0M 1.130B
YoY Change 173.67% -85.44% -16.17%
NET CHANGE
Cash From Operating Activities 306.0M 570.0M 425.0M
Cash From Investing Activities 401.0M -85.00M -1.829B
Cash From Financing Activities -1.185B -107.0M 1.130B
Net Change In Cash -478.0M 378.0M -274.0M
YoY Change -269.5% 145.45% 6750.0%
FREE CASH FLOW
Cash From Operating Activities $306.0M $570.0M $425.0M
Capital Expenditures -$1.993B -$1.472B -$2.930B
Free Cash Flow $2.299B $2.042B $3.355B
YoY Change 15.18% 7.76% -7.75%

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AVIS BUDGET GROUP, INC.
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CY2011Q3 us-gaap Earnings Per Share Diluted
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BusinessCombinationAcquisitionRelatedCostsNetOfTax
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