Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - AVIS BUDGET GROUP, INC. | Financial_Report.xls |
| EX-32 - EXHIBIT 32 - AVIS BUDGET GROUP, INC. | exhibit32car-20150331.htm |
| EX-31.1 - EXHIBIT 31.1 - AVIS BUDGET GROUP, INC. | exhibit311car-20150331.htm |
| EX-31.2 - EXHIBIT 31.2 - AVIS BUDGET GROUP, INC. | exhibit312car-20150331.htm |
| 10-Q - 10-Q - AVIS BUDGET GROUP, INC. | car-20150331x10q.htm |
Exhibit 12
Avis Budget Group, Inc.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
Three Months Ended March 31, | |||||||
2015 | 2014 | ||||||
Earnings available to cover fixed charges: | |||||||
Income (loss) from continuing operations before income taxes | $ | (16 | ) | $ | 5 | ||
Plus: Fixed charges | 148 | 147 | |||||
Earnings available to cover fixed charges | $ | 132 | $ | 152 | |||
Fixed charges (a): | |||||||
Interest, including amortization of deferred financing costs | $ | 121 | $ | 122 | |||
Interest portion of rental payment | 27 | 25 | |||||
Total fixed charges | $ | 148 | $ | 147 | |||
Ratio of earnings to fixed charges (b) | — | 1.03 | 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: | |||||||||
Three Months Ended March 31, | |||||||
2015 | 2014 | ||||||
Related to debt under vehicle programs | $ | 72 | $ | 66 | |||
All other | 49 | 56 | |||||
$ | 121 | $ | 122 | ||||
(b) Earnings were not sufficient to cover fixed charges for the three months ended March 31, 2015 by $16 million. | |||||||||