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Content analysis
?Filing tables
Filing exhibits
- 10-Q Quarterly report
- 10.2 Third Amendment to the Amended and Restated Credit Agreement Dated May 25, 2012
- 10.3 Incremental Commitment Agreement, Dated As of June 1, 2012
- 10.4 Second Amendment and Restatement Agreement, Dated May 18, 2012
- 10.5 Amendment No. 1 to Series 2012-1 Supplement, Dated May 14, 2012
- 10.6 Amendment No. 2 to Series 2012-1 Supplement, Dated July 31, 2012
- 12 Statement Re: Computation of Ratio of Earnings to Fixed Charges
- 31.1 Certification of CEO Pursuant to Rules 13(A)-14(A) and 15(D)-14(A)
- 31.2 Certification of CFO Pursuant to Rules 13(A)-14(A) and 15(D)-14(A)
- 32 Certification Pursuant to 18 U.s.c. Section 1350 Pursuant to Section 906
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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, | ||||||||
2012 | 2011 | |||||||
Earnings before fixed charges: | ||||||||
Income before income taxes | $ | 102 | $ | 100 | ||||
Plus: Fixed charges | 382 | 270 | ||||||
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Earnings available to cover fixed charges | $ | 484 | $ | 370 | ||||
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Fixed charges(a): | ||||||||
Interest, including amortization of deferred financing costs | $ | 341 | $ | 236 | ||||
Interest portion of rental payments | 41 | 34 | ||||||
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Total fixed charges | $ | 382 | $ | 270 | ||||
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Ratio of earnings to fixed charges | 1.3x | 1.4x | ||||||
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(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, | ||||||||
2012 | 2011 | |||||||
Related to debt under vehicle programs | $ | 156 | $ | 135 | ||||
All other | 185 | 101 | ||||||
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$ | 341 | $ | 236 | |||||
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