Exhibit 99.1
ANC Rental Corporation, et al. Case No. 01-11200 Jointly Administered
COMBINED SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS - SUBSTITUTE MOR-1
For the Period July 1, to July 31, 2002
Current Period Activity Activity - Filing Period to Date
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Actual Projected Actual Projected
------------- ------------ ------------- ------------
Cash - Beginning of Period $ 146,337,061 $ 17,472,000 $ 101,226,814 $ 99,778,000
Receipts:
Credit Card and Local Deposits $ 212,936,208 $ 186,678,000 $1,521,985,701 $1,338,643,000
Collections of Accounts Receivable 65,872,980 42,208,000 450,129,641 260,369,000
Other Receipts 31,407,463 56,230,000 166,693,679 187,408,000
============= ============ ============= =============
Total Receipts $ 310,216,651 $ 285,116,000 $2,138,809,021 $1,786,420,000
Disbursements:
US Trustee Fees Paid $ 78,250 $ - $ 225,750 $ -
4 Fleet Operating Expenses 15,813,737 16,060,000 114,429,876 126,740,000
5a Personnel - Net Cash Payroll 22,918,419 18,814,018 186,843,521 176,125,539
5b Personnel - Payroll Taxes Paid 8,640,752 7,093,302 69,719,442 62,787,399
5c Personnel - Benefits Payments 7,476,721 6,137,734 51,205,793 46,173,529
5d Personnel - Payments of
Garnishments Withheld 204,585 167,947 1,582,663 1,493,778
6 Travel Expenses Paid 651,825 276,000 2,496,472 2,673,000
7 Fuel Payments For Rental Fleet 4,221,608 4,733,000 32,651,595 36,749,000
8 Airport - Agency - Concession
Fees Paid 18,422,605 6,492,000 141,035,697 48,150,000
9 Insurance Payments Auto Liability 4,872,690 10,061,000 12,818,611 49,427,000
10 Insurance - Other 542,545 1,860,000 21,339,439 13,020,000
11 Facility and Other Fixed Operating
Expenses Paid 18,221,281 8,160,000 138,732,280 101,386,000
12 Other Miscellaneous Operating
Expenses Paid - - - -
13 Travel Agency Tour Operator
Commission Payments 6,487,436 8,374,000 68,155,069 60,381,000
14 Advertising Payments 4,093,263 3,961,000 24,284,066 43,546,000
15 IT Consulting Payments 5,269,121 3,757,000 36,991,429 31,631,000
16 IT Other Cash Payments 1,036,914 5,839,000 17,864,188 46,941,000
17 Sales Taxes and Other Taxes Paid 24,155,315 25,231,000 181,610,821 209,682,000
18 Professional Fees Paid - Ordinary
Course 2,362,259 172,000 10,849,365 4,530,000
19 Professional Fees Paid - Bankruptcy
Professionals 3,603,719 1,680,000 10,616,242 16,760,000
20 Other Miscellaneous Operating
Expenses Paid 8,412,558 4,096,000 70,293,380 34,760,000
22 Liability Insurance Payments -
Self Insured Program 4,012,404 1,276,000 32,297,228 32,114,000
23 Capital Expenditures 1,492,238 5,787,000 4,267,939 43,877,000
24 Interest and Financing Fees Paid 752,168 540,000 18,605,114 7,790,000
25 Vehicle Holding Costs Paid 66,377,030 2,700,000 617,110,993 575,392,000
25.1 Fleet Purchase Payments and
Financing Enhancements 95,600,178 102,326,000 239,174,771 163,626,000
26 Working Capital Fundings to
Subsidiaries - - 4,000,000 6,000,000
============= ============ ============= =============
Total Disbursements $ 325,719,621 $ 245,594,000 $2,109,201,745 $1,941,755,245
Net Cash Flow $ (15,502,970) $ 39,522,000 $ 29,607,277 $ (155,335,245)
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Cash at End of Period $ 130,834,091 $ 56,994,000 $ 130,834,091 $ (55,557,245)
============= ============ ============= =============
Notes: 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.
Effective July 2002 and for future periods, category 12 "Other" has
been combined with Category 20 "Other"
ANC Rental Corporation et al.,
Case No. 01-11200 Jointly Administered
Summary Combined Balance Sheet
July 31, 2002
Assets
Cash & Cash Equivalents $ 130,760,052
Restricted Cash 74,039
Receivables, net 120,926,401
Prepaid Expenses 47,867,919
Revenue Earning Vehicles, net (24,049,854)
Property Plant & Equip, net 269,455,763
Intangible Assets, net 127,131,913
Investment in Subsidiaries 3,786,633,047
Other Assets 30,923,858
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Total Assets $ 4,489,723,138
===============
Liabilities & Shareholders' Equity
Accounts Payable $ 149,686,629
Estimated Debt - Vehicle Rental -
Accrued Liabilities 254,703,915
Insurance Reserves 291,053,150
Other Debt 286,572,426
Deferred Income Taxes 253,710,734
Interest rate hedges at fmv 82,260,000
Due to Affiliates 700,295,348
Other Liabilities 85,688,913
---------------
Total Liabilities 2,103,971,115
Shareholders' equity 2,385,752,023
---------------
Total Liabilities & Shareholders' Equity $ 4,489,723,138
===============
ANC Rental Corporation, et al.,
Case Number 01-11200 Jointly Administered
Summary Statement of Operations
For the Periods as Indicated
For the One For the Period
Month Ended Nov. 13, 2001 to
July 31, 2002 July 31, 2002
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Total Revenue 206,872,763 1,531,504,794
Direct Operating Costs 86,838,022 739,753,397
Vehicle Depreciation, net 82,498,883 623,306,672
SGA 39,798,525 345,462,305
Amortization of Intangibles -- 290,750
Transition Cost 18,882,363 132,438,418
Interest Income (213,210) (2,378,577)
Interest Expense 4,415,250 46,166,773
FMV Stand Alone Caps 3,092,737 27,078,618
Other (income) / expense net (21,671) 52,208,122
Loss on Sale and Leaseback Transaction
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Income / (Loss) Before Tax (28,418,136) (432,821,684)
Income Taxes -- --
Extraordinary Gains/(Losses) -- --
Net Income after Tax, before adoption (28,418,136) (432,821,684)
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Cumm effect of chg in acct p,net of tax -- --
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Net Income (28,418,136) (432,821,684)
=========== =============
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.