Attached files

file filename
EX-31.2 - EXHIBIT - AVIS BUDGET GROUP, INC.exhibit312car-20140930.htm
EX-32 - EXHIBIT - AVIS BUDGET GROUP, INC.exhibit32car-20140930.htm
EX-31.1 - EXHIBIT - AVIS BUDGET GROUP, INC.exhibit311car-20140930.htm
EXCEL - IDEA: XBRL DOCUMENT - AVIS BUDGET GROUP, INC.Financial_Report.xls
10-Q - 10-Q - AVIS BUDGET GROUP, INC.car-20140930x10q.htm


Exhibit 12

Avis Budget Group, Inc.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)

 
Nine Months Ended 
 September 30,
 
2014
 
2013
Earnings available to cover fixed charges:
 
 
 
Income from continuing operations before income taxes
$
359

 
$
135

Plus: Fixed charges
505

 
575

Earnings available to cover fixed charges
$
864

 
$
710

 
 
 
 
Fixed charges (a):
 
 
 
Interest, including amortization of deferred financing costs
$
429

 
$
502

Interest portion of rental payment
76

 
73

Total fixed charges
$
505

 
$
575

 
 
 
 
Ratio of earnings to fixed charges
1.71
x
 
1.23
x
__________
(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,
 
2014
 
2013
Related to debt under vehicle programs
$
218

 
$
202

All other
211

 
300

 
$
429

 
$
502