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 May 1, to May 31, 2002
Current Period Activity Acitivity - Filing Period to Date
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Actual Projected Actual Projected
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Cash - Beginning of Period $178,887,927 $ 74,454,000 $ 101,226,814 $ 99,778,000
Receipts:
Credit Card and Local Deposits $176,627,432 $171,014,000 $1,139,051,541 $ 986,992,000
Collections of Accounts Receivable 75,864,542 39,364,000 309,564,273 189,048,000
Other Receipts 52,662,889 8,543,000 116,641,171 94,907,000
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Total Receipts $305,154,863 $218,921,000 $1,565,256,985 $1,270,947,000
Disbursements:
US Trustee Fees Paid $ 80,000 $ -- $ 147,500 $ --
4 Fleet Operating Expenses 18,726,184 16,804,000 81,896,929 93,737,000
5a Personnel - Net Cash Payroll 21,799,050 18,083,571 143,163,021 138,837,214
5b Personnel - Payroll Taxes Paid 9,799,125 8,128,940 53,269,170 48,745,108
5c Personnel - Benefits Payments 7,637,952 6,336,122 37,914,690 34,862,100
5d Personnel - Payments of Garnishments Withheld 200,548 166,366 1,213,988 1,179,822
6 Travel Expenses Paid 274,935 308,000 1,525,133 2,029,000
7 Fuel Payments For Rental Fleet 4,380,844 4,877,000 23,943,956 27,256,000
8 Airport - Agency - Concession Fees Paid 25,516,348 5,102,000 103,713,733 36,582,000
9 Insurance Payments Auto Liability 397,135 1,451,000 7,457,465 30,340,000
10 Insurance - Other 4,937,922 5,002,000 16,063,617 9,585,000
11 Facility and Other Fixed Operating Expenses Paid 15,342,125 10,336,000 105,725,767 84,095,000
12 Other Miscellaneous Operating Expenses Paid 2,524,147 2,581,000 4,808,255 14,586,000
13 Travel Agency Tour Operator Commission Payments 10,545,541 7,886,000 50,398,998 43,972,000
14 Advertising Payments 2,581,395 7,381,000 17,359,581 35,364,000
15 IT Consulting Payments 5,920,390 4,026,000 26,011,093 23,843,000
16 IT Other Cash Payments 2,224,258 5,811,000 14,408,167 35,252,000
17 Sales Taxes and Other Taxes Paid 20,869,607 25,429,000 140,873,012 158,296,000
18 Professional Fees Paid - Ordinary Course 829,160 212,000 6,896,854 4,146,000
19 Professional Fees Paid - Bankruptcy Professionals 1,446,783 1,680,000 5,565,970 12,110,000
20 Other Miscellaneous Non-Operating Expenses Paid 14,051,043 1,888,000 44,759,642 11,534,000
22 Liability Insurance Payments - Self Insured Program 4,569,095 5,004,000 26,230,190 29,562,000
23 Capital Expenditures 393,682 2,137,000 1,904,801 27,765,000
24 Interest and Financing Fees Paid 649,378 940,000 17,228,259 6,260,000
25 Vehicle Holding Costs Paid 64,552,478 96,956,000 447,974,716 474,589,000
25.1 Fleet Purchase Payments and Financing Enhancements 99,387,218 14,700,000 141,622,846 52,600,000
26 Working Capital Fundings to Subsidiaries 4,000,000 -- 4,000,000 6,000,000
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Total Disbursements $343,636,344 $253,226,000 $1,526,077,352 $1,443,127,245
Net Cash Flow $(38,481,481) $(34,305,000) $ 39,179,633 $ (172,180,245)
Cash at End of Period $140,406,446 $ 40,149,000 $ 140,406,447 $ (72,402,245)
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Note: A revised cash budget was released on February 15, 2002. "Projected"
amounts for the month of April posted from the revised budget.
"Projected" amounts for the Filing Period to Date reflect a combination
of the original budget and the revised budget.
ANC Rental Corporation et al.,
Case No. 01-11200 Jointly Administered
Summary Combined Balance Sheet
May 31, 2002
Assets
Cash & Cash Equivalents $ 140,371,275
Restricted Cash 35,171
Receivables, net 151,532,636
Prepaid Expenses 39,400,768
Revenue Earning Vehicles, net 152,031
Property Plant & Equip, net 309,252,469
Intangible Assets, net 127,131,913
Investment in Subsidiaries 3,729,223,003
Other Assets 25,863,714
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Total Assets $4,522,962,980
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Liabilities & Shareholders' Equity
Accounts Payable $ 151,679,621
Accrued Liabilities 232,971,722
Insurance Reserves 284,228,959
Other Debt 273,891,567
Deferred Income Taxes 253,710,734
Interest rate hedges at fmv 82,260,000
Due to Affiliates 715,515,146
Other Liabilities 86,370,170
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Total Liabilities 2,080,627,919
Shareholders' equity 2,442,335,061
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Total Liabilities & Shareholders' Equity $4,522,962,980
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ANC Rental Corporation, et al.
Case Number 01-11200
Combined Income Statement
For the Periods as Indicated
One Month Ended November 13, 2001
May 31, 2002 to May 31, 2002
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Total Revenue 183,806,805 1,138,105,301
Direct Operating Costs 84,116,200 569,381,724
Vehicle Depreciation, net 71,810,351 466,381,203
SGA 40,687,106 268,728,452
Amortization of Intangibles 420 290,330
Transition Cost 22,058,894 91,458,092
Interest Income (219,833) (1,961,718)
Interest Expense 6,218,118 39,440,567
FMV Stand Alone Caps 2,828,541 20,850,526
Other (income) / expense net (108,306) 49,673,228
Loss on Sale and Leaseback Transaction
Income / (Loss) Before Tax (43,584,686) (366,137,103)
Income Taxes -- --
Extraordinary Gains/(Losses) -- --
Net Income after Tax, before adoption (43,584,686) (366,137,103)
Cumm effect of chg in acct p,net of tax -- --
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Net Income (43,584,686) (366,137,103)
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