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Filing tables
Filing exhibits
- 10-Q Quarterly report
- 10.2 Amending Agreement No. 8
- 10.3 Amendment No. 3 to the Series 2006-1 Supplement
- 10.4 Amendment to the Tax Sharing Agreement
- 12 Statement Re: Computation of Ratio of Earnings to Fixed Charges
- 31.1 Certification of Chief Executive Officer
- 31.2 Certification of Chief Financial Officer
- 32 Certification Pursuant to 18 U.s.c. Section 1350
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Exhibit 12
Avis Budget Group, Inc.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
Six Months Ended June 30, | ||||||
2008 | 2007 | |||||
Earnings before fixed charges: | ||||||
Income from continuing operations before income taxes | $ | 7 | $ | 47 | ||
Plus: Fixed charges | 228 | 262 | ||||
Earnings available to cover fixed charges | $ | 235 | $ | 309 | ||
Fixed charges: | ||||||
Interest, including amortization of deferred financing costs (a) | $ | 197 | $ | 233 | ||
Interest portion of rental payment | 31 | 29 | ||||
Total fixed charges | $ | 228 | $ | 262 | ||
Ratio of earnings to fixed charges | 1.03x | 1.18x | ||||
__________
(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: | ||||||
Six Months Ended June 30, | ||||||
2008 | 2007 | |||||
Related to debt under vehicle programs | $ | 131 | $ | 162 | ||
All other | 66 | 71 | ||||
$ | 197 | $ | 233 | |||
***
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