Guarantor and Non-Guarantor Consolidating Condensed Financial Statements (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Dec. 31, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Consolidating Condensed Statements of Comprehensive Income

Consolidating Condensed Statements of Comprehensive Income

Three Months Ended June 30, 2013

			Parent			Subsidiary Issuers			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Total
Revenues
	Vehicle rental		$	—		$	—		$	972	$	466	$	—		$	1,438
	Other		—			—			288		643		(367		)	564
Net revenues			—			—			1,260		1,109		(367		)	2,002
Expenses
	Operating		2			2			613		390		—			1,007
	Vehicle depreciation and lease charges, net		—			—			327		323		(174		)	476
	Selling, general and administrative		8			1			165		100		—			274
	Vehicle interest, net		—			—			46		63		(43		)	66
	Non-vehicle related depreciation and amortization		—			—			25		12		—			37
	Interest expense related to corporate debt, net:
		Interest expense	1			52			—		2		—			55
		Intercompany interest expense (income)	(3		)	(6		)	1		8		—			—
		Early extinguishment of debt	2			89			—		—		—			91
	Transaction-related costs		1			9			1		8		—			19
	Restructuring expense		—			—			9		6		—			15
Total expenses			11			147			1,187		912		(217		)	2,040
Income (loss) before income taxes and equity in earnings of subsidiaries			(11		)	(147		)	73		197		(150		)	(38		)
Provision for (benefit from) income taxes			(3		)	(55		)	34		14		—			(10		)
Equity in earnings (loss) of subsidiaries			(20		)	72			33		—		(85		)	—
Net income (loss)			$	(28	)	$	(20	)	$	72	$	183	$	(235	)	$	(28	)
Comprehensive income (loss)			$	(65	)	$	(56	)	$	39	$	151	$	(134	)	$	(65	)

			Parent			Subsidiary Issuers			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Total
Revenues
	Vehicle rental		$	—		$	—		$	890	$	444	$	—		$	1,334
	Other		—			—			278		501		(247		)	532
Net revenues			—			—			1,168		945		(247		)	1,866
Expenses
	Operating		1			(4		)	591		365		—			953
	Vehicle depreciation and lease charges, net		—			—			185		211		(62		)	334
	Selling, general and administrative		5			—			145		83		—			233
	Vehicle interest, net		—			—			64		80		(64		)	80
	Non-vehicle related depreciation and amortization		—			—			18		11		—			29
	Interest expense related to corporate debt, net:
		Interest expense	2			64			—		3		—			69
		Intercompany interest expense (income)	(5		)	(74		)	66		13		—			—
		Early extinguishment of debt	20			3			—		—		—			23
	Transaction-related costs		—			—			—		4		—			4
	Restructuring expenses		—			—			—		12		—			12
Total expenses			23			(11		)	1,069		782		(126		)	1,737
Income (loss) before income taxes and equity in earnings of subsidiaries			(23		)	11			99		163		(121		)	129
Provision for (benefit from) income taxes			(2		)	3			36		13		—			50
Equity in earnings of subsidiaries			100			92			29		—		(221		)	—
Net income (loss)			$	79		$	100		$	92	$	150	$	(342	)	$	79
Comprehensive income			$	32		$	55		$	46	$	107	$	(208	)	$	32

			Parent			Subsidiary Issuers			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Total
Revenues
	Vehicle rental		$	—		$	—		$	1,809	$	845	$	—		$	2,654
	Other		—			—			535		1,170		(666		)	1,039
Net revenues			—			—			2,344		2,015		(666		)	3,693
Expenses
	Operating		3			3			1,171		760		—			1,937
	Vehicle depreciation and lease charges, net		—			—			587		566		(290		)	863
	Selling, general and administrative		17			2			296		183		—			498
	Vehicle interest, net		—			—			88		121		(86		)	123
	Non-vehicle related depreciation and amortization		—			1			45		25		—			71
	Interest expense related to corporate debt, net:
		Interest expense	2			106			—		6		—			114
		Intercompany interest expense (income)	(6		)	(17		)	4		19		—			—
		Early extinguishment of debt	41			90			—		—		—			131
	Transaction-related costs		1			13			1		11		—			26
	Restructuring expense		—			—			16		9		—			25
Total expenses			58			198			2,208		1,700		(376		)	3,788
Income (loss) before income taxes and equity in earnings of subsidiaries			(58		)	(198		)	136		315		(290		)	(95		)
Provision for (benefit from) income taxes			(7		)	(75		)	48		13		—			(21		)
Equity in earnings (loss) of subsidiaries			(23		)	100			12		—		(89		)	—
Net income (loss)			$	(74	)	$	(23	)	$	100	$	302	$	(379	)	$	(74	)
Comprehensive income (loss)			$	(134	)	$	(82	)	$	41	$	245	$	(204	)	$	(134	)

			Parent			Subsidiary Issuers			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Total
Revenues
	Vehicle rental		$	—		$	—		$	1,677	$	825	$	—		$	2,502
	Other		1			—			512		976		(502		)	987
Net revenues			1			—			2,189		1,801		(502		)	3,489
Expenses
	Operating		—			3			1,128		716		—			1,847
	Vehicle depreciation and lease charges, net		—			—			383		423		(154		)	652
	Selling, general and administrative		10			—			282		160		—			452
	Vehicle interest, net		—			—			125		154		(126		)	153
	Non-vehicle related depreciation and amortization		—			1			37		24		—			62
	Interest expense related to corporate debt, net:
		Interest expense	5			128			—		9		—			142
		Intercompany interest expense (income)	(12		)	(155		)	140		27		—			—
		Early extinguishment of debt	39			11			—		—		—			50
	Transaction-related costs		3			—			—		7		—			10
	Restructuring expenses		—			—			—		19		—			19
Total expenses			45			(12		)	2,095		1,539		(280		)	3,387
Income (loss) before income taxes and equity in earnings of subsidiaries			(44		)	12			94		262		(222		)	102
Provision for (benefit from) income taxes			(4		)	6			34		10		—			46
Equity in earnings of subsidiaries			96			90			30		—		(216		)	—
Net income (loss)			$	56		$	96		$	90	$	252	$	(438	)	$	56
Comprehensive income			$	53		$	95		$	88	$	254	$	(437	)	$	53

Schedule Of Condensed Consolidating Balance Sheet Table [Text Block]

Consolidating Condensed Balance Sheets

As of June 30, 2013

		Parent		Subsidiary Issuers		Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Total
Assets
Current assets:
	Cash and cash equivalents	$	7	$	64	$	—	$	432		$	—		$	503
	Receivables, net	—		—		207		484			—			691
	Deferred income taxes	3		—		142		10			(2		)	153
	Other current assets	4		97		94		404			—			599
Total current assets		14		161		443		1,330			(2		)	1,946
Property and equipment, net		—		97		306		157			—			560
Deferred income taxes		19		1,161		156		—			(7		)	1,329
Goodwill		—		—		348		304			—			652
Other intangibles, net		—		42		527		333			—			902
Other non-current assets		103		83		19		140			—			345
Intercompany receivables (payables)		140		54		344		(538		)	—			—
Investment in subsidiaries		557		2,582		3,220		—			(6,359		)	—
Total assets exclusive of assets under vehicle programs		833		4,180		5,363		1,726			(6,368		)	5,734
Assets under vehicle programs:
	Program cash	—		—		—		139			—			139
	Vehicles, net	—		6		10		12,083			—			12,099
	Receivables from vehicle manufacturers and other	—		—		—		162			—			162
	Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		362			—			362
		—		6		10		12,746			—			12,762
Total assets		$	833	$	4,186	$	5,373	$	14,472		$	(6,368	)	$	18,496
Liabilities and stockholders’ equity
Current liabilities:
	Accounts payable and other current liabilities	$	15	$	251	$	611	$	726		$	(2	)	$	1,601
	Short-term debt and current portion of long-term debt	—		166		3		52			—			221
Total current liabilities		15		417		614		778			(2		)	1,822
Long-term debt		75		3,113		7		—			—			3,195
Other non-current liabilities		97		93		275		417			(7		)	875
Total liabilities exclusive of liabilities under vehicle programs		187		3,623		896		1,195			(9		)	5,892
Liabilities under vehicle programs:
	Debt	—		6		—		2,365			—			2,371
	Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		6,986			—			6,986
Deferred income taxes		—		—		1,895		179			—			2,074
Other		—		—		—		527			—			527
		—		6		1,895		10,057			—			11,958
Total stockholders’ equity		646		557		2,582		3,220			(6,359		)	646
Total liabilities and stockholders’ equity		$	833	$	4,186	$	5,373	$	14,472		$	(6,368	)	$	18,496

Consolidating Condensed Balance Sheets

As of June 30, 2013

		Parent		Subsidiary Issuers		Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Total
Assets
Current assets:
	Cash and cash equivalents	$	7	$	64	$	—	$	432		$	—		$	503
	Receivables, net	—		—		207		484			—			691
	Deferred income taxes	3		—		142		10			(2		)	153
	Other current assets	4		97		94		404			—			599
Total current assets		14		161		443		1,330			(2		)	1,946
Property and equipment, net		—		97		306		157			—			560
Deferred income taxes		19		1,161		156		—			(7		)	1,329
Goodwill		—		—		348		304			—			652
Other intangibles, net		—		42		527		333			—			902
Other non-current assets		103		83		19		140			—			345
Intercompany receivables (payables)		140		54		344		(538		)	—			—
Investment in subsidiaries		557		2,582		3,220		—			(6,359		)	—
Total assets exclusive of assets under vehicle programs		833		4,180		5,363		1,726			(6,368		)	5,734
Assets under vehicle programs:
	Program cash	—		—		—		139			—			139
	Vehicles, net	—		6		10		12,083			—			12,099
	Receivables from vehicle manufacturers and other	—		—		—		162			—			162
	Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		362			—			362
		—		6		10		12,746			—			12,762
Total assets		$	833	$	4,186	$	5,373	$	14,472		$	(6,368	)	$	18,496
Liabilities and stockholders’ equity
Current liabilities:
	Accounts payable and other current liabilities	$	15	$	251	$	611	$	726		$	(2	)	$	1,601
	Short-term debt and current portion of long-term debt	—		166		3		52			—			221
Total current liabilities		15		417		614		778			(2		)	1,822
Long-term debt		75		3,113		7		—			—			3,195
Other non-current liabilities		97		93		275		417			(7		)	875
Total liabilities exclusive of liabilities under vehicle programs		187		3,623		896		1,195			(9		)	5,892
Liabilities under vehicle programs:
	Debt	—		6		—		2,365			—			2,371
	Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		6,986			—			6,986
Deferred income taxes		—		—		1,895		179			—			2,074
Other		—		—		—		527			—			527
		—		6		1,895		10,057			—			11,958
Total stockholders’ equity		646		557		2,582		3,220			(6,359		)	646
Total liabilities and stockholders’ equity		$	833	$	4,186	$	5,373	$	14,472		$	(6,368	)	$	18,496

		Parent		Subsidiary Issuers		Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Total
Assets
Current assets:
	Cash and cash equivalents	$	5	$	102	$	—	$	499		$	—		$	606
	Receivables, net	—		—		156		397			—			553
	Deferred income taxes	3		1		138		4			—			146
	Other current assets	5		73		81		246			—			405
Total current assets		13		176		375		1,146			—			1,710
Property and equipment, net		—		90		276		163			—			529
Deferred income taxes		23		1,216		223		—			(8		)	1,454
Goodwill		—		—		74		301			—			375
Other intangibles, net		—		43		341		347			—			731
Other non-current assets		109		80		14		117			—			320
Intercompany receivables (payables)		142		141		174		(457		)	—			—
Investment in subsidiaries		723		2,030		3,293		—			(6,046		)	—
Total assets exclusive of assets under vehicle programs		1,010		3,776		4,770		1,617			(6,054		)	5,119
Assets under vehicle programs:
	Program cash	—		—		—		24			—			24
	Vehicles, net	—		7		13		9,254			—			9,274
	Receivables from vehicle manufacturers and other	—		—		—		439			—			439
	Investment in Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		362			—			362
		—		7		13		10,079			—			10,099
Total assets		$	1,010	$	3,783	$	4,783	$	11,696		$	(6,054	)	$	15,218
Liabilities and stockholders’ equity
Current liabilities:
	Accounts payable and other current liabilities	$	22	$	250	$	490	$	659		$	—		$	1,421
	Short-term debt and current portion of long-term debt	—		13		3		41			—			57
Total current liabilities		22		263		493		700			—			1,478
Long-term debt		128		2,712		8		—			—			2,848
Other non-current liabilities		103		79		277		420			(8		)	871
Total liabilities exclusive of liabilities under vehicle programs		253		3,054		778		1,120			(8		)	5,197
Liabilities under vehicle programs:
	Debt	—		4		—		1,599			—			1,603
	Due to Avis Budget Rental Car Funding (AESOP) LLC-related party	—		—		—		5,203			—			5,203
	Deferred income taxes	—		—		1,975		188			—			2,163
	Other	—		2		—		293			—			295
		—		6		1,975		7,283			—			9,264
Total stockholders’ equity		757		723		2,030		3,293			(6,046		)	757
Total liabilities and stockholders’ equity		$	1,010	$	3,783	$	4,783	$	11,696		$	(6,054	)	$	15,218

Consolidating Condensed Statements Of Cash Flows

	Parent			Subsidiary Issuers			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
Net cash provided by (used in) operating activities	$	(2	)	$	45		$	(32	)	$	867		$	(4	)	$	874
Investing activities
Property and equipment additions	—			(11		)	(24		)	(21		)	—			(56		)
Proceeds received on asset sales	—			3			—			4			—			7
Net assets acquired, net of cash acquired	—			(513		)	16			21			—			(476		)
Other, net	—			(1		)	43			8			—			50
Net cash provided by (used in) investing activities exclusive of vehicle programs	—			(522		)	35			12			—			(475		)
Vehicle programs:
Increase in program cash	—			—			—			(111		)	—			(111		)
Investment in vehicles	—			(3		)	(1		)	(7,302		)	—			(7,306		)
Proceeds received on disposition of vehicles	—			2			—			4,432			—			4,434
	—			(1		)	(1		)	(2,981		)	—			(2,983		)
Net cash provided by (used in) investing activities	—			(523		)	34			(2,969		)	—			(3,458		)
Financing activities
Proceeds from long-term borrowings	—			2,725			—			—			—			2,725
Payments on long-term borrowings	(93		)	(2,243		)	(2		)	—			—			(2,338		)
Net change in short-term borrowings	—			—			—			10			—			10
Purchase of warrants	(29		)	—			—			—			—			(29		)
Proceeds from sale of call options	40			—			—			—			—			40
Net intercompany transactions	84			(14		)	—			(74		)	4			—
Debt financing fees	—			(28		)	—			—			—			(28		)
Other, net	2			—			—			—			—			2
Net cash provided by (used in) financing activities exclusive of vehicle programs	4			440			(2		)	(64		)	4			382
Vehicle programs:
Proceeds from borrowings	—			—			—			8,191			—			8,191
Payments on borrowings	—			—			—			(6,055		)	—			(6,055		)
Debt financing fees	—			—			—			(20		)	—			(20		)
	—			—			—			2,116			—			2,116
Net cash provided by (used in) financing activities	4			440			(2		)	2,052			4			2,498
Effect of changes in exchange rates on cash and cash equivalents	—			—			—			(17		)	—			(17		)
Net increase (decrease) in cash and cash equivalents	2			(38		)	—			(67		)	—			(103		)
Cash and cash equivalents, beginning of period	5			102			—			499			—			606
Cash and cash equivalents, end of period	$	7		$	64		$	—		$	432		$	—		$	503

	Parent			Subsidiary Issuers			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Total
Net cash provided by (used in) operating activities	$	(45	)	$	52		$	27		$	689		$	(1	)	$	722
Investing activities
Property and equipment additions	—			(13		)	(16		)	(20		)	—			(49		)
Proceeds received on asset sales	—			4			3			6			—			13
Net assets acquired, net of cash acquired	—			—			—			(5		)	—			(5		)
Other, net	4			(2		)	(1		)	(3		)	—			(2		)
Net cash provided by (used in) investing activities exclusive of vehicle programs	4			(11		)	(14		)	(22		)	—			(43		)
Vehicle programs:
Increase in program cash	—			—			—			(61		)	—			(61		)
Investment in vehicles	—			(1		)	(11		)	(6,926		)	—			(6,938		)
Proceeds received on disposition of vehicles	—			3			1			4,073			—			4,077
	—			2			(10		)	(2,914		)	—			(2,922		)
Net cash provided by (used in) investing activities	4			(9		)	(24		)	(2,936		)	—			(2,965		)
Financing activities
Proceeds from long-term borrowings	—			654			—			—			—			654
Payments on long-term borrowings	(201		)	(651		)	(1		)	—			—			(853		)
Net change in short-term borrowings	—			—			—			(1		)	—			(1		)
Purchase of warrants	(26		)	—			—			—			—			(26		)
Proceeds from sale of call options	38			—			—			—			—			38
Net intercompany transactions	231			(232		)	(1		)	1			1			—
Debt financing fees	—			(9		)	—			—			—			(9		)
Net cash provided by (used in) financing activities exclusive of vehicle programs	42			(238		)	(2		)	—			1			(197		)
Vehicle programs:
Proceeds from borrowings	—			—			—			7,172			—			7,172
Payments on borrowings	—			—			—			(4,802		)	—			(4,802		)
Debt financing fees	—			—			—			(11		)	—			(11		)
	—			—			—			2,359			—			2,359
Net cash provided by (used in) financing activities	42			(238		)	(2		)	2,359			1			2,162
Effect of changes in exchange rates on cash and cash equivalents	—			—			—			1			—			1
Net increase (decrease) in cash and cash equivalents	1			(195		)	1			113			—			(80		)
Cash and cash equivalents, beginning of period	2			234			1			297			—			534
Cash and cash equivalents, end of period	$	3		$	39		$	2		$	410		$	—		$	454