Attached files
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| 8-K/A - 8-K/A - AVIS BUDGET GROUP, INC. | a8-kxfebruary2018q4amended.htm |
Table 7
Avis Budget Group, Inc.
SEGMENT PER-UNIT FLEET COST RECONCILATION
(In millions, except as noted)
Effective January 1, 2018, management will begin measuring per-unit fleet cost as vehicle depreciation and lease charges, net divided by average fleet. We believe this is meaningful to investors as it represents a measurement of underlying depreciation and lease charges, net per vehicle per month in our business. Our calculation of per-unit fleet cost may not be comparable to the calculation of similarly-titled statistics by other companies. Currency exchange rate effects are calculated by translating the current-year results at the prior-period average exchange rate. The table below illustrates the reconciliation of per-unit fleet cost.
FOR THE YEAR ENDED DECEMBER 31, 2017 | |||||||||||||||||||
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Full Year | |||||||||||||||
Americas | |||||||||||||||||||
Vehicle depreciation and lease charges, net | $ | 396 | $ | 461 | $ | 445 | $ | 369 | $ | 1,671 | |||||||||
Currency exchange rate effects | (1 | ) | 1 | (1 | ) | (1 | ) | (2 | ) | ||||||||||
Vehicle depreciation and lease charges, net excluding exchange rate effects | $ | 395 | $ | 462 | $ | 444 | $ | 368 | $ | 1,669 | |||||||||
Average fleet (in units) | 394,712 | 446,104 | 451,817 | 393,509 | 421,536 | ||||||||||||||
Per-unit fleet cost (in $'s) | $ | 1,005 | $ | 1,034 | $ | 985 | $ | 937 | $ | 3,965 | |||||||||
Number of months in period | 3 | 3 | 3 | 3 | 12 | ||||||||||||||
Per-unit fleet cost per month (in $'s) | $ | 335 | $ | 345 | $ | 328 | $ | 312 | $ | 330 | |||||||||
Per-unit fleet cost per month excluding exchange rate effects (in $'s) | $ | 334 | $ | 345 | $ | 327 | $ | 312 | $ | 330 | |||||||||
International | |||||||||||||||||||
Vehicle depreciation and lease charges, net | $ | 108 | $ | 136 | $ | 171 | $ | 135 | $ | 550 | |||||||||
Currency exchange rate effects | 3 | 3 | (7 | ) | (8 | ) | (9 | ) | |||||||||||
Vehicle depreciation and lease charges, net excluding exchange rate effects | $ | 111 | $ | 139 | $ | 164 | $ | 127 | $ | 541 | |||||||||
Average fleet (in units) | 170,535 | 210,734 | 247,743 | 193,297 | 205,577 | ||||||||||||||
Per-unit fleet cost (in $'s) | $ | 628 | $ | 648 | $ | 691 | $ | 697 | $ | 2,672 | |||||||||
Number of months in period | 3 | 3 | 3 | 3 | 12 | ||||||||||||||
Per-unit fleet cost per month (in $'s) | $ | 209 | $ | 216 | $ | 230 | $ | 232 | $ | 223 | |||||||||
Per-unit fleet cost per month excluding exchange rate effects (in $'s) | $ | 214 | $ | 221 | $ | 221 | $ | 218 | $ | 219 | |||||||||
Total | |||||||||||||||||||
Vehicle depreciation and lease charges, net | $ | 504 | $ | 597 | $ | 616 | $ | 504 | $ | 2,221 | |||||||||
Currency exchange rate effects | 2 | 4 | (8 | ) | (9 | ) | (11 | ) | |||||||||||
Vehicle depreciation and lease charges, net excluding exchange rate effects | $ | 506 | $ | 601 | $ | 608 | $ | 495 | $ | 2,210 | |||||||||
Average fleet (in units) | 565,247 | 656,838 | 699,560 | 586,806 | 627,113 | ||||||||||||||
Per-unit fleet cost (in $'s) | $ | 891 | $ | 910 | $ | 881 | $ | 858 | $ | 3,541 | |||||||||
Number of months in period | 3 | 3 | 3 | 3 | 12 | ||||||||||||||
Per-unit fleet cost per month (in $'s) | $ | 297 | $ | 303 | $ | 294 | $ | 286 | $ | 295 | |||||||||
Per-unit fleet cost per month excluding exchange rate effects (in $'s) | $ | 298 | $ | 305 | $ | 290 | $ | 281 | $ | 294 | |||||||||
FOR THE YEAR ENDED DECEMBER 31, 2016 | |||||||||||||||||||
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Full Year | |||||||||||||||
Americas | |||||||||||||||||||
Vehicle depreciation and lease charges, net | $ | 363 | $ | 413 | $ | 424 | $ | 359 | $ | 1,559 | |||||||||
Average fleet (in units) | 387,874 | 437,024 | 454,618 | 385,662 | 416,295 | ||||||||||||||
Per-unit fleet cost (in $'s) | $ | 936 | $ | 944 | $ | 933 | $ | 931 | $ | 3,745 | |||||||||
Number of months in period | 3 | 3 | 3 | 3 | 12 | ||||||||||||||
Per-unit fleet cost per month (in $'s) | $ | 312 | $ | 315 | $ | 311 | $ | 310 | $ | 312 | |||||||||
International | |||||||||||||||||||
Vehicle depreciation and lease charges, net | $ | 100 | $ | 119 | $ | 152 | $ | 117 | $ | 488 | |||||||||
Average fleet (in units) | 154,844 | 189,176 | 219,195 | 170,006 | 183,305 | ||||||||||||||
Per-unit fleet cost (in $'s) | $ | 647 | $ | 633 | $ | 692 | $ | 689 | $ | 2,666 | |||||||||
Number of months in period | 3 | 3 | 3 | 3 | 12 | ||||||||||||||
Per-unit fleet cost per month (in $'s) | $ | 216 | $ | 211 | $ | 231 | $ | 230 | $ | 222 | |||||||||
Total | |||||||||||||||||||
Vehicle depreciation and lease charges, net | $ | 463 | $ | 532 | $ | 576 | $ | 476 | $ | 2,047 | |||||||||
Average fleet (in units) | 542,718 | 626,200 | 673,813 | 555,668 | 599,600 | ||||||||||||||
Per-unit fleet cost (in $'s) | $ | 853 | $ | 850 | $ | 855 | $ | 857 | $ | 3,415 | |||||||||
Number of months in period | 3 | 3 | 3 | 3 | 12 | ||||||||||||||
Per-unit fleet cost per month (in $'s) | $ | 284 | $ | 283 | $ | 285 | $ | 286 | $ | 285 | |||||||||