Attached files

file filename
10-Q - FORM 10-Q - AVIS BUDGET GROUP, INC.d10q.htm
EX-10.2 - THIRD AMENDMENT, DATED AS OF AUGUST 27, 2009, TO THE SERIES 2005-1 SUPPLEMENT - AVIS BUDGET GROUP, INC.dex102.htm
EX-10.1 - SECOND AMENDMENT, DATED AS OF AUGUST 27, 2009, TO THE SERIES 2006-1 SUPPLEMENT - AVIS BUDGET GROUP, INC.dex101.htm
EX-32 - CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 - AVIS BUDGET GROUP, INC.dex32.htm
EX-10.4 - SUPPLY AND FEATURE AGREEMENT DATED OCTOBER 30, 2007 - AVIS BUDGET GROUP, INC.dex104.htm
EX-31.2 - CERTIFICATION OF CFO PURSUANT TO RULES 13(A)-14(A) AND 15(D)-14(A) - AVIS BUDGET GROUP, INC.dex312.htm
EX-10.3 - AMENDMENT NO. 5 TO THE SERIES 2006-1 SUPPLEMENT - AVIS BUDGET GROUP, INC.dex103.htm
EX-31.1 - CERTIFICATION OF CEO PURSUANT TO RULES 13(A)-14(A) AND 15(D)-14(A) - AVIS BUDGET GROUP, INC.dex311.htm

Exhibit 12

Avis Budget Group, Inc.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

     Nine Months Ended
September 30,
 
     2009    2008  

Earnings before fixed charges:

     

Income (loss) before income taxes

   $ 11    $ (1,179

Plus: Fixed charges

     299      339   
               

Earnings available to cover fixed charges

   $ 310    $ (840
               

Fixed charges(a):

     

Interest, including amortization of deferred financing costs

   $ 250    $ 293   

Interest portion of rental payment

     49      46   
               

Total fixed charges

   $ 299    $ 339   
               

Ratio of earnings to fixed charges (b)

     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,
     2009    2008

Related to debt under vehicle programs

   $ 134    $ 194

All other

     116      99
             
   $ 250    $ 293
             

 

(b)

Earnings were not sufficient to cover fixed charges for the nine months ended September 30, 2008.

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