[x]
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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[ ]
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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A.
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Full title of the plan and the address of the plan, if different from that of the issuer named below:
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B.
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Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM —
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HOGANTAYLOR LLP
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4 |
FINANCIAL STATEMENTS AS OF DECEMBER 31, 2011 AND 2010 AND FOR THE
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YEAR ENDED DECEMBER 31, 2011:
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Statements of Net Assets Available for Benefits
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5 |
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Statement of Changes in Net Assets Available for Benefits
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6 |
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Notes to Financial Statements
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7 - 13 |
SUPPLEMENTAL SCHEDULE AS OF DECEMBER 31, 2011:
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Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
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14 |
SIGNATURES
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15 |
INDEX TO EXHIBITS
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16 |
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NOTE:
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The accompanying financial statements have been prepared for the purpose of filing with the United States Department of Labor’s Form 5500. Supplemental schedules required by 29 CFR 2520.103-10 of the United States Department of Labor’s (“DOL”) Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, other than the schedule listed above, are omitted because of absence of the conditions under which they are required.
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DOLLAR THRIFTY AUTOMOTIVE GROUP, INC.
RETIREMENT SAVINGS PLAN
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STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
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DECEMBER 31, 2011 AND 2010
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ASSETS:
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2011
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2010
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INVESTMENTS, at fair value
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$ | 95,848,113 | $ | 94,284,400 | ||||
RECEIVABLES:
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Notes receivable - participants
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5,310,909 | 5,102,533 | ||||||
Accrued investment income
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20,689 | 17,852 | ||||||
Other receivables | 2 | 40 | ||||||
Total receivables
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5,331,600 | 5,120,425 | ||||||
TOTAL ASSETS
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101,179,713 | 99,404,825 | ||||||
LIABILITIES:
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Due to brokers for securities purchased
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- | 1 | ||||||
NET ASSETS AVAILABLE FOR BENEFITS
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$ | 101,179,713 | $ | 99,404,824 | ||||
See notes to financial statements.
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DOLLAR THRIFTY AUTOMOTIVE GROUP, INC.
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RETIREMENT SAVINGS PLAN
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STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
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YEAR ENDED DECEMBER 31, 2011
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INVESTMENT INCOME:
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Net appreciation in fair value of investments
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$ | 1,965,648 | ||
Dividend income
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859,552 | |||
Total investment income
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2,825,200 | |||
Interest on notes receivable - participants | 172,216 | |||
CONTRIBUTIONS:
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Participants
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6,024,568 | |||
Employers
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1,809,546 | |||
Rollovers
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141,147 | |||
Total contributions
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7,975,261 | |||
Total additions | 10,972,677 | |||
DEDUCTIONS FROM NET ASSETS:
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Distributions to participants
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9,061,927 | |||
Administrative expenses
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135,861 | |||
Total deductions
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9,197,788 | |||
NET INCREASE
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1,774,889 | |||
NET ASSETS AVAILABLE FOR BENEFITS:
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Beginning of year
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99,404,824 | |||
End of year
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$ | 101,179,713 | ||
See notes to financial statements.
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DOLLAR THRIFTY AUTOMOTIVE GROUP, INC.
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RETIREMENT SAVINGS PLAN
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NOTES TO FINANCIAL STATEMENTS
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AS OF DECEMBER 31, 2011 AND 2010, AND FOR THE YEAR ENDED DECEMBER 31, 2011
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1.
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PLAN DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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2.
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INVESTMENTS
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December 31, 2011
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December 31, 2010
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Units, Shares
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Units, Shares
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or Principal
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Fair
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or Principal
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Fair
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Amount
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Value
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Amount
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Value
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Vanguard Prime Money Market
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Institutional Fund
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16,331,826 | $ | 16,331,826 | 15,425,749 | $ | 15,425,749 | |||||||||||||
Vanguard Institutional Index Fund
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126,876 | 14,595,778 | 117,691 | 13,535,650 | |||||||||||||||
T. Rowe Price New Horizons Fund
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386,683 | 11,998,758 | 314,435 | 10,530,422 | |||||||||||||||
Vanguard Total Bond Market Index
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999,051 | 10,989,557 | 501,400 | 5,314,837 | |||||||||||||||
Lord Abbett Fundamental Equity Fund | 876,547 | 10,641,278 | *** | *** | |||||||||||||||
American Funds EuroPacific
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Growth Fund
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241,256 | 8,465,657 | 186,425 | 7,701,222 | |||||||||||||||
DTAG Stock Fund** | 110,556 | 7,767,665 | 127,570 | 6,028,958 | |||||||||||||||
T. Rowe Price Growth Stock Fund
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233,982 | 7,447,656 | 189,194 | 6,082,594 | |||||||||||||||
American Beacon Small Cap Value Fund | 271,259 | 5,156,629 | * | * | |||||||||||||||
Dodge & Cox Balanced Fund
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**** | **** | 150,878 | 10,594,635 | |||||||||||||||
Dodge & Cox Stock Fund | **** | **** | 89,798 | 9,676,610 | |||||||||||||||
* |
Did not represent 5% or more of the Plan's net assets at the date indicated
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** | Party-in-interest to the Plan | ||||||||||||||||||
*** | New investments for 2011, no value for 2010 | ||||||||||||||||||
**** | Old investments for 2010, no value in 2011 |
Year Ended
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December 31,
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2011
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Registered investment companies
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$ | (909,158 | ) | |
DTG common stock
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2,874,806 | |||
Net appreciation in fair value of investments
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$ | 1,965,648 |
Fair Value Measurements
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Total Fair
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at December 31, 2011 Using:
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Value as of
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Description
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December 31, 2011
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Level 1
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Level 2
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Level 3
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Mutual funds:
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Blended fund
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$ | 10,641,278 | $ | 10,641,278 | $ |
—
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$ | — | ||||||||
Fixed income funds | 13,258,221 | 13,258,221 |
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—
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Growth funds | 27,912,072 | 27,912,072 |
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—
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Index fund | 14,595,777 | 14,595,777 |
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—
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Value fund | 5,156,629 | 5,156,629 |
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—
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Money market funds | 16,369,093 | 16,369,093 | — | — | ||||||||||||
DTG stock fund
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7,915,043 | 7,915,043 | — | — | ||||||||||||
$ | 95,848,113 | $ | 95,848,113 | $ | — | $ | — | |||||||||
Note: DTG stock fund includes DTG common stock with a fair value of $7,767,665 and $147,378 in cash.
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Fair Value Measurements
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Total Fair
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at December 31, 2010 Using:
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Value as of
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Description
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December 31, 2010
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Level 1
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Level 2
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Level 3
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Mutual funds:
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Balanced funds | $ | 15,520,764 | $ | 15,520,764 | $ | — | $ | — | ||||||||
Blended fund | 9,676,610 | 9,676,610 | — | — | ||||||||||||
Fixed income funds | 5,314,837 | 5,314,837 | — | — | ||||||||||||
Growth funds | 24,314,238 | 24,314,238 | — | — | ||||||||||||
Index fund | 13,535,650 | 13,535,650 | — | — | ||||||||||||
Value fund | 4,345,459 | 4,345,459 | — | — | ||||||||||||
Money market funds
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15,435,087 | 15,435,087 | — | — | ||||||||||||
DTG stock fund
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6,141,755 | 6,141,755 | — | — | ||||||||||||
$ | 94,284,400 | $ | 94,284,400 | $ | — | $ | — | |||||||||
Note: DTG stock fund includes DTG common stock with a fair value of $6,028,958 and $112,797 in cash.
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3.
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TAX STATUS
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4.
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PLAN TERMINATION
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5.
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RELATED PARTY TRANSACTIONS
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6.
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SUBSEQUENT EVENTS
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DOLLAR THRIFTY AUTOMOTIVE GROUP, INC.
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RETIREMENT SAVINGS PLAN
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SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
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EIN: 73-1356520
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PLAN: 002
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AS OF DECEMBER 31, 2011
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(c)
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(b)
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Description of Investment Including
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(e)
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Identity of Issuer, Borrower,
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Maturity Date, Rate of Interest, Collateral,
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(d)
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Current
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(a)
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Lessor or Similar Party
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Par or Maturity Value
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Cost (1)
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Value
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* |
Bank of Oklahoma, N.A.
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Cavanal Hill Cash Management Fund,
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184,645 units
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$ | 184,645 | |||||||||
Vanguard Group
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Vanguard Prime Money Market Institutional Fund,
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16,331,826 units
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16,331,826 | ||||||||||
Vanguard Group
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Vanguard Institutional Index Fund, 126,876 units
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14,595,778 | |||||||||
Vanguard Group
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Vanguard Total Bond Market Index, 999,051 units
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10,989,557 | |||||||||
Vanguard Group
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Vanguard Short Term Treasury Fund, 210,756 units
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2,268,664 | |||||||||
T. Rowe Price Investment Services, Inc.
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T. Rowe Price New Horizons Fund, 386,683 units
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11,998,758 | |||||||||
T. Rowe Price Investment Services, Inc.
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T. Rowe Price Growth Stock Fund, 233,982 units
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7,447,656 | |||||||||
Lord Abbett and Company
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Lord Abbett Fundamental Equity Fund, 876,547 units
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10,641,278 | |||||||||
American Funds Distributors, Inc. | American Funds EuroPacific Growth Fund, 241,256 units | 8,465,657 | |||||||||
* |
Dollar Thrifty Automotive Group, Inc.
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Dollar Thrifty Automotive Group, Inc. Stock Fund,
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110,556 shares
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7,767,665 | ||||||||||
AMR Investment Services
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American Beacon Small Cap Value Fund, 271,259 units
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5,156,629 | |||||||||
Total investments
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$ | 95,848,113 | |||||||||
* | Notes receivable - participants | Various maturity dates through December 2026 with rates | |||||||||
ranging from 2.8% to 9.1% | $ | 5,310,909 | |||||||||
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* |
Issuer is a party-in-interest to the Plan.
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(1) |
Column (d) cost information is not presented as all investments are participant-directed.
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By:
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401(k) Administrative Committee, as Plan
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administrator
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Date: June 25, 2012
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By:
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/s/ MICHAEL H. MCMAHON
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Michael H. McMahon
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Committee Chairman
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Exhibit No.
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Description
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23.47
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Consent of HoganTaylor LLP regarding Registration Statement on Form S-8, Registration No. 333-89189
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