Exhibit 99.1
ANC RENTAL CORPORATION, ET AL. CASE NO. 01-11200 JOINTLY ADMINISTERED
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS - SUBSTITUTE MOR-1
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For the Period February 1, 2002 to February 28, 2002
Acitivity - Filing
Current Period Activity Period to Date
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Actual Projected Actual Projected
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Cash - Beginning of Period $ 250,146,910 $ 235,921,000 $ 101,226,814 $ 99,778,000
Receipts:
Credit Card and Local Deposits $ 145,839,396 $ 136,979,000 $ 597,088,477 $ 492,727,000
Collections of Accounts Receivable 49,306,552 24,173,000 137,757,112 93,919,000
Other Receipts 8,279,600 5,757,000 43,261,272 63,957,000
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Total Receipts $ 203,425,548 $ 166,909,000 $ 778,106,861 $ 650,603,000
Disbursements:
US Trustee Fees Paid $ -- $ -- $ 67,500.00 $ --
4 Fleet Operating Expenses 11,420,968 16,917,000 32,157,496 42,713,000
5a Personnel - Net Cash Payroll 20,805,441 17,526,669 77,425,031 78,384,078
5b Personnel - Payroll Taxes Paid 8,327,950 7,015,531 31,048,309 28,895,245
5c Personnel - Benefits Payments 6,505,330 5,480,142 15,300,660 13,763,678
5d Personnel - Payments of Garnishments Withheld 185,965 156,658 702,033 711,245
6 Travel Expenses Paid 156,731 331,000 760,381 1,017,000
7 Fuel Payments For Rental Fleet 3,472,618 3,825,000 10,666,643 13,178,000
8 Airport - Agency - Concession Fees Paid 13,622,388 5,422,000 43,072,916 24,894,000
9 Insurance Payments Auto Liability 1,676,453 6,847,000 3,339,101 19,140,000
10 Insurance - Other 3,981,662 1,018,000 6,566,400 1,704,000
11 Facility and Other Fixed Operating Expenses Paid 15,634,118 12,397,000 50,086,655 49,448,000
12 Other Miscellaneous Operating Expenses Paid 383,371 2,584,000 1,294,817 6,767,000
13 Travel Agency Tour Operator Commission Payments 7,687,642 6,355,000 21,487,668 20,772,000
14 Advertising Payments 3,095,974 4,909,000 7,363,193 15,577,000
15 IT Consulting Payments 3,935,569 3,998,000 9,313,083 11,827,000
16 IT Other Cash Payments 2,750,289 6,733,000 7,821,068 17,816,000
17 Sales Taxes and Other Taxes Paid 22,719,164 23,294,000 80,253,134 89,016,000
18 Professional Fees Paid - Ordinary Course 2,250,517 212,000 4,911,174 3,510,000
19 Professional Fees Paid - Bankruptcy Professionals 566,206 3,280,000 566,206 5,560,000
20 Other Miscellaneous Non-Operating Expenses Paid 4,183,399 1,903,000 12,816,959 5,775,000
22 Liability Insurance Payments - Self Insured Program 1,834,690 1,278,000 14,244,898 14,968,000
23 Capital Expenditures 252,262 4,285,000 659,299 8,215,000
24 Interest and Financing Fees Paid 3,293,875 2,740,000 8,624,430 2,990,000
25 Vehicle Holding Costs Paid 95,265,661 91,026,000 198,822,557 194,794,000
25.1 Fleet Purchase Payments Made 1,685,697 1,900,000 22,083,545 20,100,000
26 Working Capital Fundings to Subsidiaries -- -- -- --
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Total Disbursements $ 235,693,940 $ 231,433,000 $ 661,455,156 $ 691,535,245
Net Cash Flow $ (32,268,392) $ (64,524,000) $ 116,651,705 $ (40,932,245)
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Cash at End of Period $ 217,878,518 $ 171,397,000 $ 217,878,519 $ 58,845,755
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Note: A revised cash budget was released on February 15, 2002. "Projected"
amounts for the month of February reflect the revised budget.
ANC Rental Corporation et al.,
Case No. 01-11200 Jointly Administered
Summary Combined Balance Sheet
28-Feb-02
ASSETS
Cash & Cash Equivalents $ 217,878,518
Restricted Cash 35,000
Receivables, net 147,908,226
Prepaid Expenses 40,172,859
Revenue Earning Vehicles, net 28,289,122
Property Plant & Equip, net 394,005,017
Intangible Assets, net (8,160,131)
Investment in Subsidiaries 3,647,770,233
Other Assets 20,004,234
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TOTAL ASSETS $ 4,487,903,078
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LIABILITIES & SHAREHOLDERS' EQUITY
Accounts Payable $ 140,551,341
Accrued Liabilities 233,330,949
Insurance Reserves 276,722,716
Other Debt 264,913,646
Deferred Income Taxes 253,710,734
Interest rate hedges at fmv 82,260,000
Intercompany 695,478,590
Other Liabilities 87,121,684
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TOTAL LIABILITIES 2,034,089,660
Shareholders' equity 2,453,814,218
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TOTAL LIABILITIES & SHAREHOLDERS' EQUITY $ 4,487,903,878
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ANC Rental Corporation, et al,
Case No. 01-11200 Jointly Administered
Summary Income Statement
For the Periods as Indicated
Commencement
Calendar Month of Case to
of February 2002 February 28, 2002
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Total Revenue 159,881,315 579,683,878
Direct Operating Costs 76,659,700 309,764,994
Vehicle Depreciation, net 65,035,070 260,184,516
SGA 38,608,870 144,630,327
Amortization of Intangibles 840 1,240,717
Transition Cost 10,862,082 350,409,428
Interest Income (216,279) (1,296,595)
Interest Expense 4,600,600 19,468,785
FMV Stand Alone Caps -- (393,268)
Other (income) / expense net 7,777,420 34,439,215
Loss on Sale and Leaseback Transaction -- --
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Income / (Loss) Before Tax (43,446,988) (538,764,241)
Income Taxes --
Extraordinary Gains/(Losses) --
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Net Income after Tax, before adoption (43,446,988) (538,764,241)
Cumm effect of chg in acct p,net of tax --
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Net Income (43,446,988) (538,764,241)
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