Avis Budget (CAR) 10-K 2007 FY Annual report

Exhibit 12

Avis Budget Group, Inc.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

	Year Ended December 31,
	2007			2006			2005			2004		2003
Earnings available to cover fixed charges:
Income (loss) from continuing operations before income taxes	$	(992	)	$	(677	)	$	(62	)	$	7	$	(263	)
Plus: Fixed charges		556			693			569			607		644
Earnings available to cover fixed charges	$	(436	)	$	16		$	507		$	614	$	381
Fixed charges:
Interest, including amortization of deferred financing costs(a)	$	497		$	632		$	512		$	553	$	595
Interest portion of rental payment		59			61			57			54		49
Total fixed charges	$	556		$	693		$	569			607	$	644
Ratio of earnings to fixed charges(b)		-			-			-			1.01x		-

^(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:

	Year Ended December 31,
	2007		2006		2005		2004		2003
Related to the debt under vehicle programs	$	356	$	361	$	313	$	263	$	270
All other		141		271		199		290		325
	$	497	$	632	$	512	$	553	$	595

Does not include interest expense from discontinued operations of $87 million, $163 million, $371 million and $268 million for the years ended December 31, 2006, 2005, 2004 and 2003, respectively.

^(b) Earnings were not sufficient to cover fixed charges in 2007, 2006, 2005 and 2003.

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