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 June 1, to June 30, 2002
Current Period Activity Activity - Filing Period to Date
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ACTUAL PROJECTED ACTUAL PROJECTED
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Cash - Beginning of Period $ 140,406,446 $ 40,149,000 $ 101,226,814 $ 99,778,000
Receipts:
Credit Card and Local Deposits $ 169,997,952 $ 164,973,000 $1,309,049,493 $1,151,965,000
Collections of Accounts Receivable 74,692,388 29,113,000 384,256,661 218,161,000
Other Receipts 18,645,046 36,271,000 135,286,217 131,178,000
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Total Receipts $ 263,335,386 $ 230,357,000 $1,828,592,371 $1,501,304,000
Disbursements:
US Trustee Fees Paid $ -- $ -- $ 147,500 $ --
4 Fleet Operating Expenses 16,719,210 16,943,000 98,616,139 110,680,000
5a Personnel - Net Cash Payroll 20,762,081 18,474,307 163,925,102 157,311,521
5b Personnel - Payroll Taxes Paid 7,809,521 6,948,989 61,078,690 55,694,098
5c Personnel - Benefits Payments 5,814,382 5,173,695 43,729,072 40,035,795
5d Personnel - Payments of Garnishments Withheld 164,090 146,009 1,378,078 1,325,831
6 Travel Expenses Paid 319,514 368,000 1,844,647 2,397,000
7 Fuel Payments For Rental Fleet 4,486,031 4,760,000 28,429,988 32,016,000
8 Airport - Agency - Concession Fees Paid 18,899,359 5,076,000 122,613,092 41,658,000
9 Insurance Payments Auto Liability 488,456 9,026,000 7,945,921 39,366,000
10 Insurance - Other 4,733,277 1,575,000 20,796,894 11,160,000
11 Facility and Other Fixed Operating Expenses Paid 14,785,232 9,131,000 120,510,999 93,226,000
12 Other Miscellaneous Operating Expenses Paid 2,339,370 3,000,000 7,147,625 17,586,000
13 Travel Agency Tour Operator Commission Payments 11,268,636 8,035,000 61,667,633 52,007,000
14 Advertising Payments 2,831,222 4,221,000 20,190,803 39,585,000
15 IT Consulting Payments 5,711,214 4,031,000 31,722,307 27,874,000
16 IT Other Cash Payments 2,419,106 5,850,000 16,827,273 41,102,000
17 Sales Taxes and Other Taxes Paid 16,582,494 26,155,000 157,455,506 184,451,000
18 Professional Fees Paid - Ordinary Course 1,590,253 212,000 8,487,106 4,358,000
19 Professional Fees Paid - Bankruptcy Professionals 1,446,554 2,970,000 7,012,524 15,080,000
20 Other Miscellaneous Non-Operating Expenses Paid 9,973,555 1,544,000 54,733,196 13,078,000
22 Liability Insurance Payments - Self Insured Program 2,054,634 1,276,000 28,284,824 30,838,000
23 Capital Expenditures 870,901 10,325,000 2,775,701 38,090,000
24 Interest and Financing Fees Paid 624,688 990,000 17,852,946 7,250,000
25 Vehicle Holding Costs Paid 102,759,247 98,103,000 550,733,963 572,692,000
25.1 Fleet Purchase Payments and Financing Enhancements 1,951,746 8,700,000 143,574,592 61,300,000
26 Working Capital Fundings to Subsidiaries -- -- 4,000,000 6,000,000
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Total Disbursements $ 257,404,772 $ 253,034,000 $1,783,482,124 $1,696,161,245
Net Cash Flow $ 5,930,614 $ (22,677,000) $ 45,110,247 $ (194,857,245)
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Cash at End of Period $ 146,337,061 $ 17,472,000 $ 146,337,061 $ (95,079,245)
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Note: A revised cash budget was released on February 15, 2002.
"Projected" amounts for the month of June 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
June 30, 2002
Assets
Cash & Cash Equivalents $ 146,301,890
Restricted Cash 35,171
Receivables, net 148,859,747
Prepaid Expenses 44,821,271
Revenue Earning Vehicles, net 12,701,462
Property Plant & Equip, net 287,827,763
Intangible Assets, net 127,131,913
Investment in Subsidiaries 3,730,795,380
Other Assets 30,949,465
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Total Assets $4,529,424,062
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Liabilities & Shareholders' Equity
Accounts Payable $ 149,940,441
Estimated Debt - Vehicle Rental 46,226,139
Accrued Liabilities 246,736,673
Insurance Reserves 288,038,885
Other Debt 285,746,178
Deferred Income Taxes 253,710,734
Interest rate hedges at fmv 82,260,000
Due to Affiliates 673,744,551
Other Liabilities 93,522,551
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Total Liabilities 2,119,926,152
Shareholders' equity 2,409,497,910
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Total Liabilities & Shareholders' Equity $4,529,424,062
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ANC Rental Corporation, et al.,
Case Number 01-11200 Jointly Administered
Summary Income Statement
For the Month of June 2002
For the Period
For the One November 13,
Month Ended 2001 to June 30,
June 30, 2002 2002
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Total Revenue 186,526,730 1,324,632,031
Direct Operating Costs 83,533,651 652,915,375
Vehicle Depreciation, net 74,426,586 540,807,789
SGA 36,935,328 305,663,780
Amortization of Intangibles 420 290,750
Transition Cost 22,097,963 113,556,055
Interest Income (203,649) (2,165,367)
Interest Expense 2,310,956 41,751,523
FMV Stand Alone Caps 3,135,355 23,985,881
Other (income) / expense net 2,556,565 52,229,793
Loss on Sale and Leaseback Transaction
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Income / (Loss) Before Tax (38,266,445) (404,403,548)
Income Taxes -- --
Extraordinary Gains/(Losses) -- --
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Net Income after Tax, before adoption (38,266,445) (404,403,548)
Cumm effect of chg in acct p,net of tax -- --
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Net Income (38,266,445) (404,403,548)
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Note: Obligations incurred by ANC Management Services, Inc., Republic Guy
Salmon, Inc., and certain other subsidiaries are settled by ANC Rental
Corporation then charged to the respective subsidiary by way of an
intercompany charge.