EX-12 2 dex12.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement re: Computation of Ratio of Earnings to Fixed Charges

Exhibit 12

Avis Budget Group, Inc.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

     Six Months Ended
June 30,		  
     2010     2009  

Earnings before fixed charges:

     

Loss before income taxes

    $ (37 )    $ (72 ) 

Plus: Fixed charges

      224        200   
                

Earnings available to cover fixed charges

    $ 187      $ 128   
                

Fixed charges (a):

     

Interest, including amortization of deferred financing costs

    $ 191      $ 168   

Interest portion of rental payments

      33        32   
                

Total fixed charges

    $ 224      $ 200   
                

Ratio of earnings to fixed charges (b)

      —          —     
                

 

(a)

Consists of interest expense on all indebtedness (including amortization of deferred financing costs) and the portion of operating lease rental expense that is representative of the interest factor. Interest expense on all indebtedness is detailed as follows:

 

     Six Months Ended
June 30,
         2010            2009    

Related to debt under vehicle programs

    $ 107    $ 90

All other

      84      78
             
   $ 191    $ 168
             

 

(b)

Earnings were not sufficient to cover fixed charges for the six months ended June 30, 2010 and 2009.

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