Avis budget group, inc. (CAR)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08
Operating activities
Net loss

302

165

361

163

313

245

16

290

-29

54

-47

-1,124

Adjustments to reconcile net loss to net cash provided by operating activities:
Vehicle depreciation

1,890

1,974

1,947

1,877

1,837

1,840

1,678

1,438

1,395

1,277

1,391

1,639

Amortization of right-of-use assets

989

0

0

-

-

-

-

-

-

-

-

-

(Gain) loss on sale of vehicles, net

82

48

-52

10

60

7

6

97

234

24

-30

-

Non-vehicle related depreciation and amortization

263

256

259

253

218

180

152

125

95

90

96

88

Deferred income taxes

-103

14

-192

51

58

65

37

128

32

-20

-60

-241

Stock-based compensation

22

24

13

27

28

25

20

-

-

-

-

-

Amortization of debt financing fees

31

28

34

37

42

41

41

57

78

50

-

-

Gain (Loss) on Extinguishment of Debt

12

19

3

27

23

56

147

-

-

-

-

-

Impairment

-

-

-

-

-

-

33

0

0

-

33

1,262

Non-cash charge on unfavorable license rights reacquired with the acquisition of Avis Europe plc

-

-

-

-

-

-

-

-

117

-

-

-

Net change in assets and liabilities:
Receivables

-10

44

59

65

42

60

66

65

-29

20

-52

50

Income taxes and deferred income taxes

5

-35

16

-5

18

-37

14

183

18

104

-10

7

Accounts payable and other current liabilities

84

48

49

2

-36

-3

-28

-28

20

108

-19

-40

Increase (Decrease) in Operating Liabilities

-981

0

0

-

-

-

-

-

-

-

-

-

Reimbursement from Realogy and Wyndham for taxes paid

-

-

-

-

-

-

-

-

-

114

-

0

Reimbursement from Wyndham for tax attributes

-

-

-

-

-

-

-

-

-

89

-

0

Other, net

-154

-138

-197

-273

-264

-160

-243

-224

-93

-26

65

63

Net cash provided by operating activities exclusive of vehicle programs

-

-

-

-

-

-

-

-

-

-

-

65

Net cash provided by operating activities of vehicle programs

-

-

-

-

-

-

-

-

-

-

-

1,639

Net cash provided by operating activities

2,586

2,609

2,648

2,640

2,627

2,579

2,253

1,889

1,578

1,640

1,491

1,704

Investing activities
Property and equipment additions

250

231

197

190

199

182

152

132

65

61

39

-83

Proceeds received on asset sales

11

17

8

19

15

21

22

21

14

14

14

17

Payments to Acquire Businesses, Net of Cash Acquired

77

91

21

55

256

416

537

69

841

2

-

-88

Other, net

-81

44

-5

-1

-3

11

-2

9

7

6

-

-17

Net cash used in investing activities exclusive of vehicle programs

-235

-349

-205

-225

-437

-588

-665

-189

-899

-55

-25

-171

Vehicle programs:
Decrease in program cash

-

-

-

-

-

10

79

13

11

-162

-145

-11

Investment in vehicles

12,887

12,589

11,538

12,461

11,928

11,875

10,899

11,067

8,659

8,031

6,775

-8,608

Proceeds received on disposition of vehicles

10,460

9,648

9,600

10,504

9,680

9,666

9,409

9,196

7,196

6,319

7,144

6,722

Investment in debt securities of Avis Budget Rental Car Funding (AESOP) LLC—related party

251

188

61

0

0

-

-

-

400

570

-

0

Proceeds from debt securities of Avis Budget Rental Car Funding (AESOP) LLC—related party

161

52

0

0

-

-

-

-

400

570

-

0

Other, net

-

-

-

-

-

-

-

-

-

-2

33

-28

Net cash used in investing activities of vehicle programs

2,517

3,077

1,999

1,957

2,248

2,219

1,569

1,884

1,474

1,548

191

-1,925

Net cash used in investing activities

-2,752

-3,426

-2,204

-2,182

-2,685

-2,807

-2,234

-2,073

-2,373

-1,603

166

-2,096

Financing activities
Proceeds from long-term borrowings

402

485

589

894

377

871

2,972

1,152

682

1,046

445

0

Payments on long-term borrowings

509

515

602

847

301

762

2,608

1,501

668

688

111

-10

Purchases of warrants

-

-

-

-

-

-

78

29

0

-

-

-

Proceeds from sale of call options

-

-

-

-

-

-

104

43

0

-

-

-

Repurchases of common stock

67

216

210

398

436

297

48

0

0

-

-

33

Proceeds from (Repayments of) Short-term Debt

-1

-4

-4

4

-22

5

-36

10

-97

-

-

-

Proceeds from warrant issuance

-

-

-

-

-

-

-

-

-

-

62

0

Purchase of call options

-

-

-

-

-

-

-

-

-

-

95

0

Debt financing fees

7

15

9

20

7

17

37

16

78

46

11

29

Other, net

0

3

1

0

-7

0

3

1

1

10

-2

1

Net cash used in financing activities exclusive of vehicle programs

-182

-262

-235

-367

-396

-200

272

-340

-160

322

288

-71

Vehicle programs:
Proceeds from borrowings

19,869

17,339

17,212

15,769

14,138

14,373

12,953

12,108

10,534

9,355

7,527

8,476

Payments on borrowings

19,346

16,385

17,269

15,826

13,648

13,963

13,115

11,490

9,917

9,152

9,147

-8,060

Net change in short-term borrowings

-

-

-

-

-

-

-

-

-

110

107

152

Debt financing fees

23

25

16

25

22

28

34

28

33

35

26

-34

Net cash provided by financing activities of vehicle programs

500

929

-73

-82

468

382

-196

590

584

58

-1,753

534

Net cash provided by financing activities

318

667

-308

-449

72

182

76

250

424

380

-1,465

463

Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash

13

-16

45

-6

-50

-23

-8

6

-6

12

32

-27

Net decrease in cash and cash equivalents, program and restricted cash

165

-166

181

3

-36

-69

87

72

-377

429

224

44

Supplemental Disclosure
Interest Paid, Including Capitalized Interest, Operating and Investing Activities [Abstract]
Interest Paid, Excluding Capitalized Interest, Operating Activities

509

497

460

-

-

-

-

-

-

-

-

-

Income Taxes Paid, Net [Abstract]
Interest payments

-

-

-

461

454

474

457

552

465

483

461

468

Income tax payments, net

93

53

58

60

29

45

58

65

51

142

20

15