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)

 

     Nine Months Ended
September 30,		  
     2010      2009  

Earnings before fixed charges:

      

Income before income taxes

    $ 106       $ 11   

Plus: Fixed charges

      341         299   
                 

Earnings available to cover fixed charges

    $ 447       $ 310   
                 

Fixed charges(a):

      

Interest, including amortization of deferred financing costs

    $ 292       $ 250   

Interest portion of rental payments

      49         49   
                 

Total fixed charges

    $ 341       $ 299   
                 

Ratio of earnings to fixed charges

      1.31x         1.04x   
                 

 

(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:

 

     Nine Months Ended
September 30,		  
         2010              2009      

Related to debt under vehicle programs

    $ 165       $ 134   

All other

      127         116   
                 
   $ 292       $ 250   
                 

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