Avis Budget (CAR) 10-Q 2009 Q3 Quarterly report

Exhibit 12

Avis Budget Group, Inc.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

	Nine Months Ended September 30,
	2009		2008
Earnings before fixed charges:
Income (loss) before income taxes	$	11	$	(1,179	)
Plus: Fixed charges		299		339
Earnings available to cover fixed charges	$	310	$	(840	)
Fixed charges(a):
Interest, including amortization of deferred financing costs	$	250	$	293
Interest portion of rental payment		49		46
Total fixed charges	$	299	$	339
Ratio of earnings to fixed charges(b)		1.04x		—

^(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:

	Nine Months Ended September 30,
	2009		2008
Related to debt under vehicle programs	$	134	$	194
All other		116		99
	$	250	$	293

^(b) Earnings were not sufficient to cover fixed charges for the nine months ended September 30, 2008.

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